All mutual funds
have investment-related expenses. These expenses include the
costs for producing account statements, record keeping, legal
services, printing and mailing of all regulatory documents,
including shareholder reports. To pay for these expenses, all
mutual funds charge fees to their shareholders. Mutual fund
fees also cover the costs of a fund's annual operating
expenses, including a marketing and distribution fee and a
management fee (which is paid to the fund's investment
managing the fund). To find out more about a fund's fees,
check out the fee table in the fund's prospectus.
This table lists in detail the expenses covered by the fund's
fees. Also included in this section is a hypothetical
illustration on the effect of expenses on a $10,000
investment. All fund companies are required to use the same
assumptions for this example. This way, it's easier for
investors to compare the fees of different funds.
Please consider the objectives, risks, charges and expenses of any Columbia fund carefully before investing. Contact your financial advisor for a prospectus, which contains this and other important information about the fund. You should read it carefully before investing.