Fund Description

The fund was incepted in November 2002 and is managed by Columbia Management Advisors, Inc. The fund seeks long-term capital appreciation. Income is a secondary objective. Under normal market conditions, the fund invests at least 80% of its net assets in equity securities, mainly common stocks that the fund's investment advisor believes are undervalued. The fund may invest in companies of all sizes, but invests most of its assets in companies that have a market capitalization of more than $1.5 billion. The fund distributes dividends quarterly and capital gains annually.