Summary Prospectus
January 1, 2025
Columbia Integrated Small Cap Growth Fund
| Class |
Ticker Symbol |
| A |
ISGDX |
| Institutional (Class Inst) |
ISGNX |
Before you invest, you may
want to review the Fund’s prospectus, which contains more information about the Fund and its risks. You can find the Fund’s prospectus, reports to shareholders,
statement of additional information and other information about the Fund online at https://www.columbiathreadneedleus.com/resources/literature. If you hold your Fund shares through a financial intermediary (such as a broker-dealer or bank), you can get this information
at no cost by contacting that financial intermediary. If you hold your Fund shares directly with the Fund, you can get this information at no cost by calling 800.345.6611 or by sending an email to serviceinquiries@columbiathreadneedle.com.
This Summary Prospectus incorporates by reference the Fund’s prospectus, dated January 1, 2025, and current Statement of Additional Information.
As with all mutual funds, the Securities and Exchange Commission has not approved or
disapproved these securities or passed upon the adequacy of this prospectus. Any representation to the contrary is a criminal offense.
Investment
Objective
Columbia Integrated Small Cap Growth Fund (the Fund) seeks to provide shareholders with capital appreciation.
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund.
You may pay other fees, such as brokerage commissions and other fees to
financial intermediaries, which are not reflected in the tables and examples below. You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds
distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 19 of the Fund’s prospectus, in Appendix A to the prospectus
beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page
S-1.
| Shareholder Fees (fees paid directly from your
investment) | ||
| |
Class A |
Class Inst |
| Maximum sales charge (load) imposed on purchases (as a % of offering
price) |
5.75 % |
None |
| Maximum deferred sales charge (load) imposed on redemptions (as a % of the lower of the original purchase price or
current net asset value) |
1.00
%(a) |
None |
| Annual Fund Operating Expenses (expenses that you
pay each year as a percentage of the value of your investment) | ||
| |
Class A |
Class Inst |
| Management fees |
0.85 % |
0.85 % |
| Distribution and/or service (12b-1) fees |
0.25 % |
0.00 % |
| Other expenses(b) |
0.49 % |
0.49 % |
| Total annual Fund operating expenses(c) |
1.59 % |
1.34 % |
| Less: Fee waivers and/or expense reimbursements(d) |
(0.35 %) |
(0.35 %) |
| Total annual Fund operating expenses after fee waivers and/or expense reimbursements |
1.24 % |
0.99 % |
(a)
This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions.
(b)
Other expenses have been restated to reflect current fees paid by the Fund.
(c)
“Total annual Fund operating expenses” include acquired fund fees and expenses
(expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the
Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses.
(d)
Columbia Management Investment Advisers, LLC and certain of its affiliates have
contractually agreed to waive fees and/or to reimburse expenses (excluding transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees
and expenses, and infrequent and/or unusual expenses) through December 31, 2025, unless sooner terminated at the sole discretion of the Fund’s Board of Trustees. Under this agreement, the Fund’s net operating expenses, subject to applicable exclusions, will not exceed the annual rates of 1.24% for Class A and 0.99% for Class Inst. Any difference in these annual rates relative to the annual rates noted in the last row of the above table (e.g., net expense ratios) are due to applicable exclusions under the agreement.
Example
The following example is intended to help you compare the cost of
investing in the Fund with the cost of investing in other mutual funds. The example illustrates the hypothetical expenses that you would incur over the time periods indicated, and assumes that:
■
you invest $10,000 in the applicable class of Fund shares for the periods
indicated,
■
your investment has a 5% return each year, and
■
the Fund’s total annual operating expenses remain the same as shown in the Annual Fund Operating
Expenses table above.
1
Columbia Integrated Small Cap Growth Fund
Since the waivers and/or
reimbursements shown in the Annual Fund Operating Expenses table above expire as indicated in the preceding table, they are only reflected in the 1 year example and the first year of the other
examples. Although your actual costs may be higher or lower, based on the assumptions listed above, your costs would be:
| |
1 year |
3 years |
5 years |
10 years |
| Class A (whether or not shares are redeemed) |
$694 |
$1,016 |
$1,360 |
$2,328 |
| Class Inst (whether or not shares are redeemed) |
$101 |
$390 |
$701 |
$1,582 |
Portfolio Turnover
The Fund may pay transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in
the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 58% of the average value of its
portfolio.
Principal Investment
Strategies
Under normal circumstances, the Fund invests at least 80%
of its net assets (including the amount of any borrowings for investment purposes) in equity securities of small capitalization companies. These companies have market
capitalizations in the range of companies in the Russell 2000® Growth Index (the Index) at the time of purchase (between $12.5 million and $17.3 billion as of November 30,
2024). The market capitalization range and composition of companies in the Index are subject to change.
The Fund invests substantially in securities of U.S. issuers. The Fund generally invests in common stocks. The Fund may at times
emphasize one or more sectors in selecting its investments, including the health care, industrials, and information technology sectors.
The Fund invests substantially in “growth” stocks, which are stocks of
companies with long-term earnings growth potential. The Fund’s portfolio managers seek to invest in growth companies that are undervalued relative to their fundamentals and exhibit improving investor interest, such as positive price momentum, believing that such investments
can outperform the equity market over a full market cycle, which can be measured from market peak to peak or from market trough to trough.
Principal Risks
An investment in the Fund involves risks, including Market Risk,
Small-Cap Stock Risk and Growth Securities Risk, among
others. Descriptions of these and other principal risks of investing in the Fund are provided below. There is no assurance that the Fund will achieve its investment objective and you may lose money. The value of the
Fund’s holdings may decline, and the Fund’s net asset value (NAV) and share price may go down. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other
government agency. The significance of any specific risk to an investment in the Fund will vary over time depending on the composition of the Fund's portfolio, market conditions, and other factors. You should read all of the risk
information below carefully, because any one or more of these risks may result in losses to the Fund.
Active Management Risk. Due to its active management, the Fund could underperform its benchmark index and/or other funds with similar
investment objectives and/or strategies.
Growth Securities Risk. Growth securities typically trade at a higher multiple of earnings than other
types of equity securities. Accordingly, the market values of growth securities may never reach their expected market value and may decline in price. In addition, growth securities, at times, may not perform as well as value securities or the stock
market in general, and may be out of favor with investors for varying periods of time. Growth securities may also be sensitive to movements in interest rates.
Issuer Risk. An issuer in which the Fund invests or to which it has exposure may perform poorly or
below expectations, and the value of its securities may therefore decline, which may negatively affect the Fund’s performance. Underperformance of an issuer may be caused by poor management decisions, competitive pressures,
breakthroughs in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent disclosures, natural disasters, military confrontations and actions, war, other conflicts, terrorism, disease/virus
outbreaks, epidemics or other events, conditions and factors which may impair the value of your investment in the Fund.
■
Small-Cap Stock Risk. Investments in small-capitalization companies (small-cap companies) often involve greater risks than investments in
larger, more established companies (larger companies) because small-cap companies
Columbia Integrated Small Cap Growth Fund
2
tend to have less predictable
earnings and may lack the management experience, financial resources, product diversification and competitive strengths of larger companies, and securities of small-cap companies
may be less liquid and more volatile than the securities of larger companies.
Market Risk. The Fund may incur losses due to declines in the value
of one or more securities in which it invests. These declines may be due to factors affecting a particular issuer, or the result of, among other things, political, regulatory, market, economic or social developments affecting the relevant market(s) more generally. In addition,
turbulence in financial markets and reduced liquidity in equity, credit and/or fixed income markets may negatively affect many issuers, which could adversely affect the Fund’s ability to price or value hard-to-value assets in thinly traded and closed markets and could cause significant redemptions and operational challenges. Global economies and
financial markets are increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country,
region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such
risks might affect companies worldwide. As a result, local, regional or global events such as terrorism, war, other conflicts, natural disasters, disease/virus outbreaks and epidemics or other public health issues, recessions,
depressions or other events – or the potential for such events – could have a significant negative impact on global economic and market conditions.
Sector Risk. At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business
in a related group of industries within one or more economic sectors, including the health care, industrials, and information technology sectors. Companies in the same sector may
be similarly affected by economic, regulatory, political or market events or conditions, which may make the Fund vulnerable to unfavorable developments in that group of industries or economic sector.
■
Health Care Sector. The Fund is vulnerable to the particular risks that may affect companies in the health care sector. Companies in the
health care sector are subject to certain risks, including restrictions on government reimbursement for medical expenses, government approval of medical products and services,
competitive pricing pressures, and the rising cost of medical products and services (especially for companies dependent upon a relatively limited number of products or services), among others. Performance of such companies may be affected by
factors including government regulation, obtaining and protecting patents (or the failure to do so), product liability and other similar litigation as well as product
obsolescence.
■
Industrials Sector. The Fund is vulnerable to the particular risks that may affect
companies in the industrials sector. Companies in the industrials sector are subject to certain risks, including changes in supply and demand for their specific product or service and for industrial sector products in general, including decline in demand for
such products due to rapid technological developments and frequent new product introduction. Performance of
such companies may be affected by factors including government regulation, world events, economic conditions
and risks for environmental damage and product liability claims.
■
Information Technology Sector. The Fund is vulnerable to the particular risks that may affect companies in the information technology sector.
Companies in the information technology sector are subject to certain risks, including the risk that new services, equipment or technologies will not be accepted by consumers and
businesses or will become rapidly obsolete. Performance of such companies may be affected by factors including obtaining and protecting patents (or the failure to do so) and significant competitive pressures, including aggressive pricing of
their products or services, new market entrants, competition for market share and short product cycles due to an accelerated rate of technological developments. Such competitive
pressures may lead to limited earnings and/or falling profit margins. As a result, the value of their securities may fall or fail to rise. In addition, many information technology sector companies have limited operating histories and prices of these companies’ securities
historically have been more volatile than other securities, especially over the short term. Some companies in the information technology sector are facing increased government
and regulatory scrutiny and may be subject to adverse government or regulatory action, which could negatively impact the value of their securities.
Performance
Information
The following bar chart and table show you how the Fund
has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund’s Class A share performance (without sales
charges) has varied for each full calendar year shown. If the sales charges were reflected, returns shown would be lower. Class A share performance (without sales charges) is shown in the bar chart because Advisor Class shares
are no longer offered by the Fund and Class A shares are the oldest share class currently offered by the Fund. The table below the bar chart compares the Fund’s returns (after applicable sales charges shown in the Shareholder Fees table in this prospectus) for the periods shown with a broad measure of market performance, as well as another measure
of performance for markets in which the Fund may invest.
3
Columbia Integrated Small Cap Growth Fund
Effective August 1, 2024, the Fund compares its
performance to the Russell 3000® Index, a broad-based performance index, as required by new regulatory requirements. The Fund’s performance also continues to be
compared to its prior benchmark, which management believes more closely represents the market sectors and/or
asset classes in which the Fund primarily invests.
The performance of one or more share classes shown in the table below begins before the indicated inception date for
such share class. The returns shown include the returns of the Fund’s Advisor Class shares (adjusted to reflect the higher class-related operating expenses of each share
class, where applicable) for periods prior to its inception date. Advisor Class shares were offered prior to the inception date of each share class but have since been converted into the Fund’s Class Inst shares.
Except for differences in annual returns resulting from differences in expenses and sales charges (where applicable),
the share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities.
The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect
during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. Your actual after-tax returns will depend on your personal tax situation and may differ from those shown in the table. In addition, the after-tax returns shown in the table do not
apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are
shown only for Class A shares and will vary for other share classes. After-tax returns are shown for Class
A shares because Advisor Class shares are no longer offered by the Fund and Class A shares are the oldest share class currently offered by the Fund.
The Fund’s performance prior to January 21, 2022 reflects returns achieved by BMO
Small-Cap Growth Fund (the Predecessor Fund), a series of BMO Funds, Inc. The Predecessor Fund was managed by BMO Asset Management Corp. (BMO AM) and had the same investment objective and a substantially identical investment strategy to the Fund.
The Fund’s past performance (before and after taxes) is no
guarantee of how the Fund will perform in the future. Updated performance information
can be obtained by calling toll-free 800.345.6611 or visiting
columbiathreadneedleus.com.
| Year by Year Total Return (%) as of December 31 Each Year* |
Best and Worst Quarterly Returns
During the Period Shown in the Bar Chart |
||
 |
Best |
4th Quarter 2020 |
28.99% |
| Worst |
1st Quarter 2020 |
-26.24% | |
*
Year to Date return as of September 30, 2024: 12.61%
Average Annual Total Returns After Applicable Sales Charges
(for periods ended December 31, 2023)
| |
Share Class
Inception Date |
1 Year |
5 Years* |
10 Years* |
| Class A |
05/31/2017 |
|
|
|
| returns before taxes |
|
10.93% |
7.65% |
4.47% |
| returns after taxes on distributions |
|
10.93% |
4.97% |
1.74% |
| returns after taxes on distributions and sale of Fund shares |
|
6.47% |
5.85% |
2.96% |
| Class Inst returns before taxes |
01/26/2022 |
17.93% |
9.18% |
5.35% |
| Russell 2000® Growth
Index (reflects no deductions for fees, expenses or taxes) |
|
18.66% |
9.22% |
7.16% |
| Russell
3000®
Index (reflects no deductions for fees, expenses or taxes) |
|
25.96% |
15.16% |
11.48% |
*
Returns shown for
periods prior to the inception date of a class include the returns of the Fund’s Advisor Class through the inception date of such class (in each case, without applicable
sales charges and adjusted to reflect the higher class-related operating expenses of such share class, where applicable). Advisor Class shares were offered prior to the inception
date of each share class but have since been converted into the Fund’s Class Inst shares.
Columbia Integrated Small Cap Growth Fund
4
Fund Management
Investment Manager: Columbia Management Investment Advisers, LLC
| Portfolio Management |
Title |
Role with Fund |
Managed Fund Since |
| Jason Hans, CFA |
Senior Portfolio Manager |
Co-Portfolio Manager |
2022 |
| Oleg Nusinzon, CFA |
Senior Portfolio Manager |
Co-Portfolio Manager |
2023 |
| Raghavendran Sivaraman, Ph.D., CFA |
Senior Portfolio Manager |
Co-Portfolio Manager |
2023 |
Purchase and Sale of Fund Shares
You may purchase or redeem shares of the Fund on any business day by contacting the Fund in the ways described
below:
| Online |
Regular Mail |
Express Mail |
By Telephone |
| columbiathreadneedleus.com/investor/ |
Columbia Management Investment Services Corp.
P.O. Box 219104
Kansas City, MO 64121-9104 |
Columbia Management Investment Services Corp.
801 Pennsylvania Ave., STE. 219104
Kansas City, MO 64105-1307 |
800.422.3737 |
You may purchase shares and receive redemption proceeds by electronic funds transfer, by check or by wire. If you
maintain your account with a broker-dealer or other financial intermediary, you must contact that financial
intermediary to buy, sell or exchange shares of the Fund through your account with the intermediary.
The minimum initial investment amounts for the share classes offered by the Fund are shown
below:
Minimum Initial Investment
| Class |
Category of eligible
account |
For accounts other than
Systematic Investment
Plan accounts (as described in the Fund’s Prospectus) |
For Systematic Investment
Plan accounts |
| Class A |
All accounts other than
IRAs |
$2,000 |
$100 |
| IRAs |
$1,000 |
$100 | |
| Class Inst |
All eligible accounts |
$0, $1,000 or $2,000
depending upon the category
of eligible investor |
$100 |
More information about these minimums can be found in the Buying,
Selling and Exchanging Shares - Buying Shares section of the prospectus. There is no
minimum additional investment for any share class.
Tax Information
The Fund normally distributes net investment income and net realized capital gains, if any, to shareholders. These
distributions are generally taxable to you as ordinary income, qualified dividend income or capital gains, unless you are investing through a tax-advantaged account, such as a 401(k) plan or an IRA. If you are investing through a tax-advantaged account, you may be taxed upon withdrawals from that account.
Payments to Broker-Dealers and Other Financial Intermediaries
If you purchase the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies — including Columbia Management Investment Advisers, LLC (the Investment Manager), Columbia
Management Investment Distributors, Inc. (the Distributor) and Columbia Management Investment Services Corp.
(the Transfer Agent) — may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your financial advisor to
recommend the Fund over another investment. Ask your financial advisor or visit your financial intermediary’s website for more information.
5
Columbia Integrated Small Cap Growth Fund
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