Columbia Wanger Offshore Funds

Effective 23 March 2012, the Wanger US Smaller Companies UCITS Fund and the Wanger European Smaller Companies UCITS Fund, managed by Columbia Wanger Asset Management, LLC, began trading as sub-funds on the MontLake UCITS Platform plc following the merger of the Wanger Investment Company into the MontLake structure.

For more information about the funds, please visit http://www.montlakeucits.com.

Fund Merger News

In mid-December 2012, we announced that proxy materials were filed with the Securities and Exchange Commission relating to several proposed fund mergers. Shortly thereafter, we began a period of proxy mailings and shareholder vote solicitations that concluded at our shareholder meeting on February 27, 2013.

As voted on and approved by shareholders, the following acquired funds have merged into their corresponding acquiring fund at the close of business on their merger date. We are pleased that these mergers have been approved, as they are expected to benefit fund shareholders through cost savings, focused investment teams and operational efficiencies.

Acquired Fund Acquiring Fund Merger date
(close of business)
Columbia Connecticut Tax–Exempt Fund Columbia Tax–Exempt Fund Merger completed 04/26/2013
Columbia Diversified Bond Fund Columbia Intermediate Bond Fund Merger completed 03/15/2013
Columbia Emerging Markets Opportunity Fund Columbia Emerging Markets Fund Merger completed 03/15/2013
Columbia Frontier Fund Columbia Small Cap Growth Fund I Merger completed 03/15/2013
Columbia Government Money Market Fund Columbia Money Market Fund Merger completed 03/15/2013
Columbia High Yield Opportunity Fund Columbia High Yield Bond Fund Merger completed 04/26/2013
Columbia Large Cap Value Fund Columbia Equity Value Fund Merger completed 04/26/2013
Columbia LifeGoal® Income Portfolio Columbia Capital Allocation Conservative Portfolio (formerly known as Columbia Portfolio Builder Conservative Fund) Merger completed 04/26/2013
Columbia Massachusetts Tax–Exempt Fund Columbia Tax–Exempt Fund Merger completed 04/26/2013
Columbia Mid Cap Growth Opportunity Fund Columbia Mid Cap Growth Fund Merger completed 03/15/2013
Columbia Multi–Advisor International Value Fund Columbia Overseas Value Fund Merger completed 03/15/2013
Columbia Portfolio Builder Moderate Aggressive Fund Columbia Capital Allocation Moderate Aggressive Portfolio (formerly known as Columbia LifeGoal® Balanced Growth Portfolio) Merger completed 03/15/2013
Columbia Portfolio Builder Moderate Conservative Fund Columbia Capital Allocation Moderate Conservative Portfolio (formerly known as Columbia LifeGoal® Income and Growth Portfolio) Merger completed 03/15/2013
Columbia Select Small Cap Fund Columbia Small Cap Growth Fund I Merger completed 03/15/2013
Columbia Small Cap Growth Fund II Columbia Small Cap Growth Fund I Merger completed 03/15/2013
Columbia Variable Portfolio – High Income Fund Columbia Variable Portfolio – Income Opportunities Fund Merger completed 04/26/2013
Columbia Variable Portfolio – Mid Cap Growth Fund Columbia Variable Portfolio – Mid Cap Growth Opportunity Fund Merger completed 04/26/2013
Columbia Variable Portfolio – Money Market Fund Columbia Variable Portfolio – Cash Management Fund Merger completed 04/26/2013
Approved additional proxy proposals

In addition to voting on fund mergers, shareholders of certain funds were asked to vote on other proposals. The funds listed in the table below have had their additional proposals approved by shareholders. For more details, please refer to each fund’s prospectus supplement at columbiamanagement.com.

Fund Proposal
Columbia Absolute Return Currency and Income Fund Change to industry concentration policy
Columbia Capital Allocation Aggressive Portfolio
(formerly known as Columbia Portfolio Builder Aggressive Fund)
Columbia Capital Allocation Conservative Portfolio
(formerly known as Columbia Portfolio Builder Conservative Fund)
Columbia Capital Allocation Moderate Portfolio
(formerly known as Columbia Portfolio Builder Moderate Fund)
Changes to investment management services agreement relating to fees
Columbia Seligman Communications and Information Fund Reclassification to a non-diversified fund
Columbia Seligman Global Technology Fund
Columbia Technology Fund
Columbia Variable Portfolio — Seligman Global Technology Fund
Change to industry concentration policy and reclassification to a non-diversified fund
Columbia Variable Portfolio — Short Duration U.S. Government Fund* Investment objective change, including permitting the fund’s trustees to change the fund's objective without shareholder approval

* In connection with the change to its investment objective, Columbia Variable Portfolio -- Short Duration U.S. Government Fund changed its name to Columbia Variable Portfolio -- U.S. Government Mortgage Fund on May 1, 2013.

Restrictions and policies

Certificates of shares

If you currently hold any shares of an acquired fund in certificate form, those shares will be considered null and void upon completion of the fund merger. Shares will be held in book entry form in the corresponding acquiring fund.

New accounts

New account applications for the purchase of shares of an acquired fund, received in good order, will be accepted through the close of business on that acquired fund’s merger date. After that, any account application for shares of an acquired fund will be rejected.

Purchases, exchanges and redemptions of shares of an acquired fund

Purchases, exchanges and redemptions of an acquired fund will be accepted through the close of business on the acquired fund’s merger date. In addition, requests to purchase, exchange or redeem shares of an acquired fund received in good order within 30 days after the merger date, will automatically be treated as a purchase, exchange or redemption of the corresponding acquiring fund. After this 30-day period, any such requests will be rejected.

Systematic investment plan and systematic withdrawal plan transactions

If you are currently participating in the systematic investment plan or systematic withdrawal plan with an acquired fund, your current systematic transactions will be carried over to its corresponding acquiring fund.

Merger Resources

Merger Questions & Answers
Merger-related distributions