Fund Description

The fund was incepted in November 1985 and is managed by Columbia Management Advisors, Inc. The fund seeks significant capital appreciation. The fund invests at least 80% of its net assets in stocks of companies with a market capitalization, at the time of initial purchase, equal to or less than the largest stock in the Russell Midcap Index. The fund may invest up to 20% of its net assets in small-cap and large-cap companies. The fund may also invest in securities convertible into or exercisable for stock (including preferred stock, warrants and debentures), and certain options and financial futures contracts (derivatives). The fund may invest, to a limited extent, in foreign securities, including American Depository Receipts. The fund distributes dividends and capital gains annually.