0001193125-11-238788.txt : 20110901 0001193125-11-238788.hdr.sgml : 20110901 20110901114506 ACCESSION NUMBER: 0001193125-11-238788 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20110901 DATE AS OF CHANGE: 20110901 EFFECTIVENESS DATE: 20110901 FILER: COMPANY DATA: COMPANY CONFORMED NAME: COLUMBIA ACORN TRUST CENTRAL INDEX KEY: 0000002110 IRS NUMBER: 362692100 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-01829 FILM NUMBER: 111070122 BUSINESS ADDRESS: STREET 1: 227 W MONROE STE 3000 CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 3126349200 MAIL ADDRESS: STREET 1: 227 W MONROE STE 3000 CITY: CHICAGO STATE: IL ZIP: 60606 FORMER COMPANY: FORMER CONFORMED NAME: LIBERTY ACORN TRUST DATE OF NAME CHANGE: 20010424 FORMER COMPANY: FORMER CONFORMED NAME: ACORN INVESTMENT TRUST DATE OF NAME CHANGE: 19940204 FORMER COMPANY: FORMER CONFORMED NAME: ACORN FUND INC DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: COLUMBIA ACORN TRUST CENTRAL INDEX KEY: 0000002110 IRS NUMBER: 362692100 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 002-34223 FILM NUMBER: 111070123 BUSINESS ADDRESS: STREET 1: 227 W MONROE STE 3000 CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 3126349200 MAIL ADDRESS: STREET 1: 227 W MONROE STE 3000 CITY: CHICAGO STATE: IL ZIP: 60606 FORMER COMPANY: FORMER CONFORMED NAME: LIBERTY ACORN TRUST DATE OF NAME CHANGE: 20010424 FORMER COMPANY: FORMER CONFORMED NAME: ACORN INVESTMENT TRUST DATE OF NAME CHANGE: 19940204 FORMER COMPANY: FORMER CONFORMED NAME: ACORN FUND INC DATE OF NAME CHANGE: 19920703 0000002110 S000033621 Columbia Acorn European Fund C000103324 Columbia Acorn European Fund Class A CAEAX C000103325 Columbia Acorn European Fund Class C CAECX C000103326 Columbia Acorn European Fund Class I CAFIX C000103327 Columbia Acorn European Fund Class Z CAEZX 0000002110 S000033622 Columbia Acorn Emerging Markets Fund C000103328 Columbia Acorn Emerging Markets Fund Class A CAGAX C000103329 Columbia Acorn Emerging Markets Fund Class C CGMCX C000103330 Columbia Acorn Emerging Markets Fund Class I CATIX C000103331 Columbia Acorn Emerging Markets Fund Class Z CEFZX 485BPOS 1 d485bpos.htm COLUMBIA ACORN TRUST Columbia Acorn Trust

As filed with the Securities and Exchange Commission on September 1, 2011

Securities Act Registration No. 2-34223

Investment Company Act File No. 811-1829

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM N-1A

REGISTRATION STATEMENT

UNDER

THE SECURITIES ACT OF 1933

Post-Effective Amendment No. 92

and

REGISTRATION STATEMENT

UNDER

THE INVESTMENT COMPANY ACT OF 1940

Amendment No. 67

 

 

COLUMBIA ACORN TRUST

227 West Monroe Street, Suite 3000

Chicago, Illinois 60606

Telephone number: 312.634.9200

 

 

 

Charles P. McQuaid

Columbia Acorn Trust

227 West Monroe Street,

Suite 3000 Chicago,

Illinois 60606

 

Scott R. Plummer

c/o Columbia Management
Investment Advisers, LLC

225 Franklin Street

Boston, MA 02110

 

Mary C. Moynihan

Perkins Coie LLP

700 13th Street, N.W.,

Suite 600

Washington, D.C. 20005

(Agents for service)

 

 

It is proposed that this filing will become effective:

  x immediately upon filing pursuant to rule 485(b)
  ¨ on                      pursuant to rule 485(b)
  ¨ 60 days after filing pursuant to rule 485(a)(1)
  ¨ on                      pursuant to rule 485(a)(l)
  ¨ 75 days after filing pursuant to rule 485(a)(2)
  ¨ on                      pursuant to rule 485(a)(2).

 

 

 


SIGNATURES

Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets all the requirements for effectiveness of this post-effective amendment pursuant to Rule 485(b) under the Securities Act of 1933 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Chicago and State of Illinois on this 1st day of September, 2011.

 

COLUMBIA ACORN TRUST

By

 

/S/    CHARLES P. MCQUAID        

  Charles P. McQuaid, President

Pursuant to the requirements of the Securities Act of 1933, this amendment to the registration statement has been signed below by the following persons in the capacities and on the dates indicated.

 

Name

 

Title

   

Date

/S/    LAURA M. BORN        

  Trustee and Chair     )     
Laura M. Born       )     
      )     

/S/    MICHELLE L. COLLINS        

  Trustee     )     
Michelle L. Collins       )     
      )     

/S/    MAUREEN M. CULHANE        

  Trustee     )     
Maureen M. Culhane       )     
      )     

/S/    MARGARET M. EISEN        

  Trustee     )     
Margaret M. Eisen       )     
      )     

/S/    JOHN C. HEATON        

  Trustee     )     
John C. Heaton       )     
      )     

/S/    STEVEN N. KAPLAN        

  Trustee     )     
Steven N. Kaplan       )     
      )     

/S/    ALLAN B. MUCHIN        

  Trustee     )      September 1, 2011
Allan B. Muchin       )     
      )     

/S/    DAVID B. SMALL        

  Trustee     )     
David B. Small       )     
      )     

/S/    DAVID J. RUDIS        

  Trustee     )     
David J. Rudis       )     
      )     

/S/    CHARLES P. MCQUAID        

  Trustee and President (principal executive     )     
Charles P. McQuaid   officer)     )     
      )     

/S/    BRUCE H. LAUER        

  Treasurer (principal financial and     )     
Bruce H. Lauer   accounting officer)     )     


Index of Exhibits Filed with this Amendment

 

Exhibit No.

    

Description

EX-101.INS

     XBRL Instance Document

EX-101.SCH

     XBRL Taxonomy Extension Schema Document

EX-101.CAL

     XBRL Taxonomy Extension Calculation Linkbase

EX-101.DEF

     XBRL Taxonomy Extension Definition Linkbase

EX-101.LAB

     XBRL Taxonomy Extension Labels Linkbase

EX-101.PRE

     XBRL Taxonomy Extension Presentation Linkbase
EX-101.INS 2 cik0000002110-20110817.xml XBRL INSTANCE DOCUMENT 0000002110 2011-08-19 2011-08-19 0000002110 columbia:S000033621Member columbia:AAAAMember 2011-08-19 2011-08-19 0000002110 columbia:S000033621Member columbia:C000103324Member columbia:AAAAMember 2011-08-19 2011-08-19 0000002110 columbia:S000033621Member columbia:C000103325Member columbia:AAAAMember 2011-08-19 2011-08-19 0000002110 columbia:S000033621Member columbia:C000103326Member columbia:AAAAMember 2011-08-19 2011-08-19 0000002110 columbia:S000033621Member columbia:BBBBMember 2011-08-19 2011-08-19 0000002110 columbia:S000033621Member columbia:C000103327Member columbia:BBBBMember 2011-08-19 2011-08-19 0000002110 columbia:S000033622Member columbia:CCCCMember 2011-08-19 2011-08-19 0000002110 columbia:S000033622Member columbia:C000103328Member columbia:CCCCMember 2011-08-19 2011-08-19 0000002110 columbia:S000033622Member columbia:C000103329Member columbia:CCCCMember 2011-08-19 2011-08-19 0000002110 columbia:S000033622Member columbia:C000103330Member columbia:CCCCMember 2011-08-19 2011-08-19 0000002110 columbia:S000033622Member columbia:DDDDMember 2011-08-19 2011-08-19 0000002110 columbia:S000033622Member columbia:C000103331Member columbia:DDDDMember 2011-08-19 2011-08-19 xbrli:pure iso4217:USD xbrli:shares iso4217:USD xbrli:shares 485BPOS 2011-08-19 COLUMBIA ACORN TRUST 0000002110 false 2011-08-19 <div style="display: none">~ http://xbrl.sec.gov/rr/role/RiskReturnDetailData column period compact * row dei_DocumentInformationDocumentAxis compact * row dei_LegalEntityAxis compact * row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * row primary compact * ~</div> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Investment Objective</b></p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"> The Fund seeks long-term capital appreciation. </p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Fees and Expenses of the Fund</b></p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Class A shares of eligible Columbia funds within the Columbia family of mutual funds. More information about these and other discounts is available from your financial advisor, in the <i>Choosing a Share Class</i> section beginning on page 17 of this prospectus and in Appendix D to the Statement of Additional Information under <i>Sales Charge Waivers</i> beginning on page D-1.</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Shareholder Fees (fees paid directly from your investment) </b></p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) </b></p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Example </b></p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">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. </p><p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"> The example illustrates the hypothetical expenses that you would incur over the time periods indicated, and assumes that:</p> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;">you invest $10,000 in Class A, Class C or Class I shares of the Fund for the periods indicated,</p> </li><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;">your investment has a 5% return each year, and</p> </li><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;">the Fund's total annual operating expenses remain the same as shown in the table above. </p> </li></ul> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">The waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire on April 30, 2013 and are only reflected in the 1 year example and the first year of the 3 year example.</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">Based on the assumptions listed above, your costs would be:</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"> <b>Remember this is an example only.</b> Your actual costs may be higher or lower. </p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Portfolio Turnover </b></p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">The Fund pays 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.</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Principal Investment Strategies </b></p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowing for investment purposes) in European companies. Under normal circumstances, the Fund invests at least 70% of its total assets in companies in Western European countries (for example, the United Kingdom, Germany, France and Italy), but also may invest up to 30% of its total assets in companies in emerging Central and Eastern European countries (for example, Poland, the Czech Republic, Turkey and Cyprus), including up to 10% of its total assets in companies in Russia and the Ukraine. For purposes of the Fund's policies, the Fund may invest in a company if (i) it is domiciled in, or the principal trading market for its securities is in, a European country, (ii) it derives 50% or more of its economic value from goods produced, sales made or services performed or has at least 50% of its assets in a European country or (iii) it is a holding company that predominantly holds shares in such companies. The Fund may invest in a variety of countries, industries and sectors and does not attempt to invest a specific percentage of its assets in any given country, industry or sector.</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">Under normal circumstances, the Fund invests a majority of its net assets in the common stock of small- and mid-sized companies with market capitalizations under $5 billion at the time of investment. However, if the Fund's investments in such companies represent less than a majority of its net assets, the Fund may continue to hold and to make additional investments in an existing company in its portfolio even if that company's capitalization has grown to exceed $5 billion. Except as noted above, under normal circumstances, the Fund may invest in other companies with market capitalizations above $5 billion, provided that immediately after that investment a majority of its net assets would be invested in companies with market capitalizations under $5 billion.</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Adviser), believes that stocks of companies with market capitalizations under $5 billion, which generally are not as well known by financial analysts as larger companies, may offer higher return potential than stocks of larger companies.</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">The Fund takes advantage of the Adviser's research and stock-picking capabilities to initially invest in a limited number of companies (generally under 100), offering the potential to provide above-average growth over time.</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">The Adviser typically seeks companies with:</p> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;">A strong business franchise that offers growth potential.</p> </li><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;">Products and services that give the company a competitive advantage.</p> </li><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;">A stock price the Adviser believes is reasonable relative to the assets and earning power of the company.</p> </li></ul> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">The Adviser may sell a portfolio holding if the security reaches the Adviser's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Adviser believes other securities are more attractive. The Adviser also may sell a portfolio holding to fund redemptions.</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Principal Risks</b></p> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;"> <b>Investment Strategy Risk --</b> The Adviser uses the principal investment strategies and other investment strategies to seek to achieve the Fund's investment objective. There is no assurance that the Fund will achieve its investment objective. Investment decisions made by the Adviser in using these strategies may not produce the returns expected by the Adviser, may cause the Fund's shares to lose value or may cause the Fund to underperform other funds with similar investment objectives.</p> </li></ul> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;"> <b>Market Risk</b> <b>--</b> Market risk refers to the possibility that the market values of securities that the Fund holds will fall, sometimes rapidly or unpredictably. Security values may fall because of factors affecting individual companies, industries or sectors, or the markets as a whole, reducing the value of an investment in the Fund. Accordingly, an investment in the Fund could lose money over short or even long periods. The market values of the securities the Fund holds also can be affected by changes or perceived changes in U.S. or foreign economies and financial markets, and the liquidity of these securities, among other factors. In general, equity securities tend to have greater price volatility than debt securities.</p> </li></ul> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;"> <b>Foreign Securities Risk --</b> Foreign securities are subject to special risks as compared to securities of U.S. issuers. For example, foreign markets can be extremely volatile. Fluctuations in currency exchange rates may impact the value of foreign securities denominated in foreign currencies or in U.S. dollars, without a change in the intrinsic value of those securities. Foreign securities may be less liquid than domestic securities so that the Fund may, at times, be unable to sell foreign securities at desirable times or prices. Brokerage commissions, custodial fees and other fees are also generally higher for foreign securities. The Fund may have limited or no legal recourse in the event of default with respect to certain foreign securities, including those issued by foreign governments. In addition, foreign governments may impose potentially confiscatory withholding or other taxes, which could reduce the amount of income and capital gains available to distribute to s hareholders. Other risks include possible delays in the settlement of transactions or in the payment of income; generally less publicly available information about companies; the impact of political, social or diplomatic events; possible seizure, expropriation or nationalization of a company or its assets; possible imposition of currency exchange controls; and accounting, auditing and financial reporting standards that may be less comprehensive and stringent than those applicable to domestic companies.</p> </li></ul> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;"> <b>Emerging Market Securities Risk</b> <b>--</b> Securities issued by foreign governments or companies in emerging market countries, like those in Eastern Europe, the Middle East, Asia, Latin America or Africa, are more likely to have greater exposure to the risks of investing in foreign securities that are described in <i>Foreign Securities Risk</i>. In addition, emerging market countries are more likely to experience instability resulting, for example, from rapid social, political and economic development. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity than more developed countries. Emerging market securities tend to be more volatile than securities in more developed markets. Many emerging market countries are heavily dependent on international trade, which makes them more sensitive to world commodity prices and economic downturns in other countries. Some emerging market countries have a higher risk of currency de valuations, and some of these countries may experience periods of high inflation or rapid changes in inflation rates.</p> </li></ul> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;"> <b>Smaller Company Securities Risk --</b> Securities of small- or mid-capitalization companies ("smaller companies") can, in certain circumstances, have a higher potential for gains than securities of large-capitalization companies but may also have more risk. For example, smaller companies may be more vulnerable to market downturns and adverse business or economic events than larger, more established companies because they may have more limited financial resources and business operations. These companies are also more likely than large-capitalization companies ("larger companies") to have more limited product lines and operating histories and to depend on smaller management teams. Their securities may trade less frequently and in smaller volumes and may be less liquid and fluctuate more sharply in value than securities of larger companies. In cases where the Fund takes significant positions in smaller companies with limited trading volumes, the liquidation of those position s, particularly in a distressed market, could be prolonged and result in investment losses. In addition, some smaller companies may not be widely followed by the investment community, which can lower the demand for their stocks.</p> </li></ul> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;"> <b>Currency Risk --</b> Securities denominated in different currencies are subject to the risk that, for example, if the value of a foreign currency were to decline against the U.S. dollar, such decline would reduce the U.S. dollar value of any securities held by the Fund denominated in that currency.</p> </li></ul> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;"> <b>Sector Risk --</b> At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business in a broadly related group of industries within an economic sector. Companies in the same economic sector may be similarly affected by economic or market events, making the Fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly.</p> </li></ul> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;"> <b>Special Situations Risk --</b> Securities of companies that are involved in an initial public offering or a major corporate event, such as a business consolidation or restructuring, may present special risk because of the high degree of uncertainty that can be associated with such events. Securities issued in initial public offerings often are issued by companies that are in the early stages of development, have a history of little or no revenues and may operate at a loss following the offering. It is possible that there will be no active trading market for the securities after the offering, and that the market price of the securities may be subject to significant and unpredictable fluctuations. Investing in special situations may have a magnified effect on the performance of funds with small amounts of assets.</p> </li></ul> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Performance Information </b></p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">Because the Fund commenced investment operations on or about August 19, 2011, no year-by-year total return bar chart or average annual total return table is being presented. The year-by year-total return bar chart and the average annual total return table will be provided after the Fund has annual returns for at least one calendar year.</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">More recent performance information will be available on the Columbia Funds' website at www.columbiamanagement.com or by calling 800.345.6611.</p> <div style="display:none">~http://columbia/role/ShareholderFeesDataAAAA column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact columbia_S000033621Member ~</div> 0.0575 0.01 0.01 <div style="display:none">~ http://columbia/role/OperatingExpensesDataAAAA column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact columbia_S000033621Member ~</div> 0.0119 0.0025 0.0045 0.0189 -0.0014 0.0175 0.0119 0.01 0.0047 0.0266 -0.0016 0.025 0.0119 0 0.0026 0.0145 -0.0014 0.0131 <div style="display:none">~ http://columbia/role/ExpenseExampleAAAA column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact columbia_S000033621Member ~</div> 743 353 133 1122 811 445 <div style="display:none">~ http://columbia/role/ExpenseExampleNoRedemptionAAAA column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact columbia_S000033621Member ~</div> 253 811 <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Investment Objective</b></p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"> The Fund seeks long-term capital appreciation. </p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Fees and Expenses of the Fund</b></p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Shareholder Fees (fees paid directly from your investment) </b></p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) </b></p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Example </b></p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">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. </p><p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"> The example illustrates the hypothetical expenses that you would incur over the time periods indicated, and assumes that:</p> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;">you invest $10,000 in Class Z shares of the Fund for the periods indicated,</p> </li><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;">your investment has a 5% return each year, and</p> </li><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;">the Fund's total annual operating expenses remain the same as shown in the table above. </p> </li></ul> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">The waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire on April 30, 2013 and are only reflected in the 1 year example and the first year of the 3 year example.</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">Based on the assumptions listed above, your costs would be:</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"> <b>Remember this is an example only.</b> Your actual costs may be higher or lower. </p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Portfolio Turnover </b></p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">The Fund pays 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.</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Principal Investment Strategies </b></p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowing for investment purposes) in European companies. Under normal circumstances, the Fund invests at least 70% of its total assets in companies in Western European countries (for example, the United Kingdom, Germany, France and Italy), but also may invest up to 30% of its total assets in companies in emerging Central and Eastern European countries (for example, Poland, the Czech Republic, Turkey and Cyprus), including up to 10% of its total assets in companies in Russia and the Ukraine. For purposes of the Fund's policies, the Fund may invest in a company if (i) it is domiciled in, or the principal trading market for its securities is in, a European country, (ii) it derives 50% or more of its economic value from goods produced, sales made or services performed or has at least 50% of its assets in a European country or (iii) it is a holding company that predominantly holds shares in such companies. The Fund may invest in a variety of countries, industries and sectors and does not attempt to invest a specific percentage of its assets in any given country, industry or sector.</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">Under normal circumstances, the Fund invests a majority of its net assets in the common stock of small- and mid-sized companies with market capitalizations under $5 billion at the time of investment. However, if the Fund's investments in such companies represent less than a majority of its net assets, the Fund may continue to hold and to make additional investments in an existing company in its portfolio even if that company's capitalization has grown to exceed $5 billion. Except as noted above, under normal circumstances, the Fund may invest in other companies with market capitalizations above $5 billion, provided that immediately after that investment a majority of its net assets would be invested in companies with market capitalizations under $5 billion.</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Adviser), believes that stocks of companies with market capitalizations under $5 billion, which generally are not as well known by financial analysts as larger companies, may offer higher return potential than stocks of larger companies.</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">The Fund takes advantage of the Adviser's research and stock-picking capabilities to initially invest in a limited number of companies (generally under 100), offering the potential to provide above-average growth over time.</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">The Adviser typically seeks companies with:</p> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;">A strong business franchise that offers growth potential.</p> </li><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;">Products and services that give the company a competitive advantage.</p> </li><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;">A stock price the Adviser believes is reasonable relative to the assets and earning power of the company.</p> </li></ul> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">The Adviser may sell a portfolio holding if the security reaches the Adviser's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Adviser believes other securities are more attractive. The Adviser also may sell a portfolio holding to fund redemptions.</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Principal Risks</b></p> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;"> <b>Investment Strategy Risk --</b> The Adviser uses the principal investment strategies and other investment strategies to seek to achieve the Fund's investment objective. There is no assurance that the Fund will achieve its investment objective. Investment decisions made by the Adviser in using these strategies may not produce the returns expected by the Adviser, may cause the Fund's shares to lose value or may cause the Fund to underperform other funds with similar investment objectives.</p> </li></ul> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;"> <b>Market Risk</b> <b>--</b> Market risk refers to the possibility that the market values of securities that the Fund holds will fall, sometimes rapidly or unpredictably. Security values may fall because of factors affecting individual companies, industries or sectors, or the markets as a whole, reducing the value of an investment in the Fund. Accordingly, an investment in the Fund could lose money over short or even long periods. The market values of the securities the Fund holds also can be affected by changes or perceived changes in U.S. or foreign economies and financial markets, and the liquidity of these securities, among other factors. In general, equity securities tend to have greater price volatility than debt securities.</p> </li></ul> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;"> <b>Foreign Securities Risk --</b> Foreign securities are subject to special risks as compared to securities of U.S. issuers. For example, foreign markets can be extremely volatile. Fluctuations in currency exchange rates may impact the value of foreign securities denominated in foreign currencies or in U.S. dollars, without a change in the intrinsic value of those securities. Foreign securities may be less liquid than domestic securities so that the Fund may, at times, be unable to sell foreign securities at desirable times or prices. Brokerage commissions, custodial fees and other fees are also generally higher for foreign securities. The Fund may have limited or no legal recourse in the event of default with respect to certain foreign securities, including those issued by foreign governments. In addition, foreign governments may impose potentially confiscatory withholding or other taxes, which could reduce the amount of income and capital gains available to distribute to s hareholders. Other risks include possible delays in the settlement of transactions or in the payment of income; generally less publicly available information about companies; the impact of political, social or diplomatic events; possible seizure, expropriation or nationalization of a company or its assets; possible imposition of currency exchange controls; and accounting, auditing and financial reporting standards that may be less comprehensive and stringent than those applicable to domestic companies.</p> </li></ul> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;"> <b>Emerging Market Securities Risk</b> <b>--</b> Securities issued by foreign governments or companies in emerging market countries, like those in Eastern Europe, the Middle East, Asia, Latin America or Africa, are more likely to have greater exposure to the risks of investing in foreign securities that are described in <i>Foreign Securities Risk</i>. In addition, emerging market countries are more likely to experience instability resulting, for example, from rapid social, political and economic development. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity than more developed countries. Emerging market securities tend to be more volatile than securities in more developed markets. Many emerging market countries are heavily dependent on international trade, which makes them more sensitive to world commodity prices and economic downturns in other countries. Some emerging market countries have a higher risk of currency de valuations, and some of these countries may experience periods of high inflation or rapid changes in inflation rates.</p> </li></ul> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;"> <b>Smaller Company Securities Risk --</b> Securities of small- or mid-capitalization companies ("smaller companies") can, in certain circumstances, have a higher potential for gains than securities of large-capitalization companies but may also have more risk. For example, smaller companies may be more vulnerable to market downturns and adverse business or economic events than larger, more established companies because they may have more limited financial resources and business operations. These companies are also more likely than large-capitalization companies ("larger companies") to have more limited product lines and operating histories and to depend on smaller management teams. Their securities may trade less frequently and in smaller volumes and may be less liquid and fluctuate more sharply in value than securities of larger companies. In cases where the Fund takes significant positions in smaller companies with limited trading volumes, the liquidation of those position s, particularly in a distressed market, could be prolonged and result in investment losses. In addition, some smaller companies may not be widely followed by the investment community, which can lower the demand for their stocks.</p> </li></ul> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;"> <b>Currency Risk --</b> Securities denominated in different currencies are subject to the risk that, for example, if the value of a foreign currency were to decline against the U.S. dollar, such decline would reduce the U.S. dollar value of any securities held by the Fund denominated in that currency.</p> </li></ul> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;"> <b>Sector Risk --</b> At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business in a broadly related group of industries within an economic sector. Companies in the same economic sector may be similarly affected by economic or market events, making the Fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly.</p> </li></ul> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;"> <b>Special Situations Risk --</b> Securities of companies that are involved in an initial public offering or a major corporate event, such as a business consolidation or restructuring, may present special risk because of the high degree of uncertainty that can be associated with such events. Securities issued in initial public offerings often are issued by companies that are in the early stages of development, have a history of little or no revenues and may operate at a loss following the offering. It is possible that there will be no active trading market for the securities after the offering, and that the market price of the securities may be subject to significant and unpredictable fluctuations. Investing in special situations may have a magnified effect on the performance of funds with small amounts of assets.</p> </li></ul> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Performance Information </b></p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">Because the Fund commenced investment operations on or about August 19, 2011, no year-by-year total return bar chart or average annual total return table is being presented. The year-by year-total return bar chart and the average annual total return table will be provided after the Fund has annual returns for at least one calendar year.</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">More recent performance information will be available on the Columbia Funds' website at www.columbiamanagement.com or by calling 800.345.6611.</p> <div style="display:none">~http://columbia/role/ShareholderFeesDataBBBB column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact columbia_S000033621Member ~</div> 0 0 <div style="display:none">~ http://columbia/role/OperatingExpensesDataBBBB column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact columbia_S000033621Member ~</div> 0.0119 0 0.0032 0.0151 -0.0001 0.015 <div style="display:none">~ http://columbia/role/ExpenseExampleBBBB column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact columbia_S000033621Member ~</div> 153 476 <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Investment Objective</b></p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"> The Fund seeks long-term capital appreciation. </p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Fees and Expenses of the Fund</b></p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Class A shares of eligible Columbia funds within the Columbia family of mutual funds. More information about these and other discounts is available from your financial advisor, in the <i>Choosing a Share Class</i> section beginning on page 17 of this prospectus and in Appendix D to the Statement of Additional Information under <i>Sales Charge Waivers</i> beginning on page D-1.</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Shareholder Fees (fees paid directly from your investment) </b></p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) </b></p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Example </b></p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">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. </p><p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"> The example illustrates the hypothetical expenses that you would incur over the time periods indicated, and assumes that:</p> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;">you invest $10,000 in Class A, Class C or Class I shares of the Fund for the periods indicated,</p> </li><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;">your investment has a 5% return each year, and</p> </li><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;">the Fund's total annual operating expenses remain the same as shown in the table above. </p> </li></ul> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">The waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire on April 30, 2013 and are only reflected in the 1 year example and the first year of the 3 year example.</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">Based on the assumptions listed above, your costs would be:</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"> <b>Remember this is an example only.</b> Your actual costs may be higher or lower. </p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Portfolio Turnover </b></p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">The Fund pays 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.</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Principal Investment Strategies </b></p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowing for investment purposes) in companies located in emerging market countries, including frontier market countries. Emerging market countries are those countries whose economies are developing or emerging from underdevelopment (for example, China, India, Poland and Turkey). Frontier market countries generally have smaller economies and even less developed capital markets than traditional emerging market countries (for example, Vietnam, Colombia, Nigeria and Kazakhstan). For purposes of the Fund's policies, the Fund may invest in a company if (i) it is domiciled in, or the principal trading market for its securities is in, an emerging market country, (ii) it derives 50% or more of its economic value from goods produced, sales made or services performed or has at least 50% of its assets in an emerging market country or countries or (iii) it is a holding company that predominantly holds shares in such companies. The Fund may invest in a variety of countries, industries and sectors and does not attempt to invest a specific percentage of its assets in any given country, industry or sector.</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">Under normal circumstances, the Fund invests a majority of its net assets in the common stock of small- and mid-sized companies with market capitalizations under $5 billion at the time of investment. However, if the Fund's investments in such companies represent less than a majority of its net assets, the Fund may continue to hold and to make additional investments in an existing company in its portfolio even if that company's capitalization has grown to exceed $5 billion. Except as noted above, under normal circumstances, the Fund may invest in other companies with market capitalizations above $5 billion, provided that immediately after that investment a majority of its net assets would be invested in companies with market capitalizations under $5 billion. Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Adviser), believes that stocks of companies with market capitalizations under $5 billion, wh ich generally are not as well known by financial analysts as larger companies, may offer higher return potential than stocks of larger companies.</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">The Fund takes advantage of the Adviser's research and stock-picking capabilities to initially invest in a limited number of companies (generally under 100), offering the potential to provide above-average growth over time.</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">Generally, the Adviser will determine which countries are emerging market countries by reference to the countries included in the S&amp;P Emerging Markets Broad Market Index (BMI), and will determine which countries are frontier market countries by reference to the countries included in the S&amp;P Frontier BMI. In addition, the Fund may invest in certain developing market countries that are not included in either the S&amp;P Emerging Markets BMI or the S&amp;P Frontier BMI (for example, Iceland and Senegal), but which are included on another independent third-party listing of emerging market and/or frontier market countries. The Adviser will make all determinations as to whether a company is an emerging market company at the time of investment. The countries that comprise emerging market countries, including frontier market countries, may change from time to time.</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">The Adviser typically seeks companies with:</p> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;">A strong business franchise that offers growth potential.</p> </li><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;">Products and services that give the company a competitive advantage.</p> </li><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;">A stock price the Adviser believes is reasonable relative to the assets and earning power of the company.</p> </li></ul> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">The Adviser may sell a portfolio holding if the security reaches the Adviser's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Adviser believes other securities are more attractive. The Adviser also may sell a portfolio holding to fund redemptions.</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Principal Risks</b></p> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;"> <b>Investment Strategy Risk --</b> The Adviser uses the principal investment strategies and other investment strategies to seek to achieve the Fund's investment objective. There is no assurance that the Fund will achieve its investment objective. Investment decisions made by the Adviser in using these strategies may not produce the returns expected by the Adviser, may cause the Fund's shares to lose value or may cause the Fund to underperform other funds with similar investment objectives.</p> </li></ul> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;"> <b>Market Risk</b> <b>--</b> Market risk refers to the possibility that the market values of securities that the Fund holds will fall, sometimes rapidly or unpredictably. Security values may fall because of factors affecting individual companies, industries or sectors, or the markets as a whole, reducing the value of an investment in the Fund. Accordingly, an investment in the Fund could lose money over short or even long periods. The market values of the securities the Fund holds also can be affected by changes or perceived changes in U.S. or foreign economies and financial markets, and the liquidity of these securities, among other factors. In general, equity securities tend to have greater price volatility than debt securities.</p> </li></ul> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;"> <b>Foreign Securities Risk --</b> Foreign securities are subject to special risks as compared to securities of U.S. issuers. For example, foreign markets can be extremely volatile. Fluctuations in currency exchange rates may impact the value of foreign securities denominated in foreign currencies or in U.S. dollars, without a change in the intrinsic value of those securities. Foreign securities may be less liquid than domestic securities so that the Fund may, at times, be unable to sell foreign securities at desirable times or prices. Brokerage commissions, custodial fees and other fees are also generally higher for foreign securities. The Fund may have limited or no legal recourse in the event of default with respect to certain foreign securities, including those issued by foreign governments. In addition, foreign governments may impose potentially confiscatory withholding or other taxes, which could reduce the amount of income and capital gains available to distribute to s hareholders. Other risks include possible delays in the settlement of transactions or in the payment of income; generally less publicly available information about companies; the impact of political, social or diplomatic events; possible seizure, expropriation or nationalization of a company or its assets; possible imposition of currency exchange controls; and accounting, auditing and financial reporting standards that may be less comprehensive and stringent than those applicable to domestic companies.</p> </li></ul> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;"> <b>Emerging Market Securities Risk</b> <b>--</b> Securities issued by foreign governments or companies in emerging market countries, like those in Eastern Europe, the Middle East, Asia, Latin America or Africa, are more likely to have greater exposure to the risks of investing in foreign securities that are described in <i>Foreign Securities Risk</i>. In addition, emerging market countries are more likely to experience instability resulting, for example, from rapid social, political and economic development. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity than more developed countries. Emerging market securities tend to be more volatile than securities in more developed markets. Many emerging market countries are heavily dependent on international trade, which makes them more sensitive to world commodity prices and economic downturns in other countries. Some emerging market countries have a higher risk of currency de valuations, and some of these countries may experience periods of high inflation or rapid changes in inflation rates.</p> </li></ul> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;"> <b>Frontier Market Risk</b> -- Frontier market countries generally have smaller economies and even less developed capital markets than traditional emerging market countries and, as a result, the risks of investing in emerging market countries are magnified in frontier market countries. The magnification of risks are the result of: potential for extreme price volatility and illiquidity in frontier market countries; government ownership or control of parts of private sector and of certain companies; trade barriers, exchange controls, managed adjustments in relative currency values and other protectionist measures imposed or negotiated by the countries with which frontier market countries trade; and the relatively new and unsettled securities laws in many frontier market countries.</p> </li></ul> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;"> <b>Smaller Company Securities Risk --</b> Securities of small- or mid-capitalization companies ("smaller companies") can, in certain circumstances, have a higher potential for gains than securities of large-capitalization companies but may also have more risk. For example, smaller companies may be more vulnerable to market downturns and adverse business or economic events than larger, more established companies because they may have more limited financial resources and business operations. These companies are also more likely than large-capitalization companies ("larger companies") to have more limited product lines and operating histories and to depend on smaller management teams. Their securities may trade less frequently and in smaller volumes and may be less liquid and fluctuate more sharply in value than securities of larger companies. In cases where the Fund takes significant positions in smaller companies with limited trading volumes, the liquidation of those position s, particularly in a distressed market, could be prolonged and result in investment losses. In addition, some smaller companies may not be widely followed by the investment community, which can lower the demand for their stocks.</p> </li></ul> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;"> <b>Currency Risk --</b> Securities denominated in different currencies are subject to the risk that, for example, if the value of a foreign currency were to decline against the U.S. dollar, such decline would reduce the U.S. dollar value of any securities held by the Fund denominated in that currency.</p> </li></ul> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;"> <b>Sector Risk --</b> At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business in a broadly related group of industries within an economic sector. Companies in the same economic sector may be similarly affected by economic or market events, making the Fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly.</p> </li></ul> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;"> <b>Special Situations Risk --</b> Securities of companies that are involved in an initial public offering or a major corporate event, such as a business consolidation or restructuring, may present special risk because of the high degree of uncertainty that can be associated with such events. Securities issued in initial public offerings often are issued by companies that are in the early stages of development, have a history of little or no revenues and may operate at a loss following the offering. It is possible that there will be no active trading market for the securities after the offering, and that the market price of the securities may be subject to significant and unpredictable fluctuations. Investing in special situations may have a magnified effect on the performance of funds with small amounts of assets.</p> </li></ul> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Performance Information </b></p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">Because the Fund commenced investment operations on or about August 19, 2011, no year-by-year total return bar chart or average annual total return table is being presented. The year-by year-total return bar chart and the average annual total return table will be provided after the Fund has annual returns for at least one calendar year.</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">More recent performance information will be available on the Columbia Funds' website at www.columbiamanagement.com or by calling 800.345.6611.</p> <div style="display:none">~http://columbia/role/ShareholderFeesDataCCCC column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact columbia_S000033622Member ~</div> 0.0575 0.01 0.01 <div style="display:none">~ http://columbia/role/OperatingExpensesDataCCCC column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact columbia_S000033622Member ~</div> 0.0125 0.0025 0.0046 0.0196 -0.0011 0.0185 0.0125 0.01 0.0048 0.0273 -0.0013 0.026 0.0125 0 0.0027 0.0152 -0.0011 0.0141 <div style="display:none">~ http://columbia/role/ExpenseExampleCCCC column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact columbia_S000033622Member ~</div> 752 363 144 1145 835 470 <div style="display:none">~ http://columbia/role/ExpenseExampleNoRedemptionCCCC column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact columbia_S000033622Member ~</div> 263 835 <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Investment Objective</b></p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"> The Fund seeks long-term capital appreciation. </p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Fees and Expenses of the Fund</b></p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Shareholder Fees (fees paid directly from your investment) </b></p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) </b></p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Example </b></p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">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. </p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"> The example illustrates the hypothetical expenses that you would incur over the time periods indicated, and assumes that:</p> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;">you invest $10,000 in Class Z shares of the Fund for the periods indicated,</p> </li><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;">your investment has a 5% return each year, and</p> </li><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;">the Fund's total annual operating expenses remain the same as shown in the table above.</p> </li></ul> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"> Based on the assumptions listed above, your costs would be:</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"> <b>Remember this is an example only.</b> Your actual costs may be higher or lower. </p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Portfolio Turnover </b></p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">The Fund pays 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.</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Principal Investment Strategies </b></p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowing for investment purposes) in companies located in emerging market countries, including frontier market countries. Emerging market countries are those countries whose economies are developing or emerging from underdevelopment (for example, China, India, Poland and Turkey). Frontier market countries generally have smaller economies and even less developed capital markets than traditional emerging market countries (for example, Vietnam, Colombia, Nigeria and Kazakhstan). For purposes of the Fund's policies, the Fund may invest in a company if (i) it is domiciled in, or the principal trading market for its securities is in, an emerging market country, (ii) it derives 50% or more of its economic value from goods produced, sales made or services performed or has at least 50% of its assets in an emerging market country or countries or (iii) it is a holding company that predominantly holds shares in such companies. The Fund may invest in a variety of countries, industries and sectors and does not attempt to invest a specific percentage of its assets in any given country, industry or sector.</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">Under normal circumstances, the Fund invests a majority of its net assets in the common stock of small- and mid-sized companies with market capitalizations under $5 billion at the time of investment. However, if the Fund's investments in such companies represent less than a majority of its net assets, the Fund may continue to hold and to make additional investments in an existing company in its portfolio even if that company's capitalization has grown to exceed $5 billion. Except as noted above, under normal circumstances, the Fund may invest in other companies with market capitalizations above $5 billion, provided that immediately after that investment a majority of its net assets would be invested in companies with market capitalizations under $5 billion. Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Adviser), believes that stocks of companies with market capitalizations under $5 billion, wh ich generally are not as well known by financial analysts as larger companies, may offer higher return potential than stocks of larger companies.</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">The Fund takes advantage of the Adviser's research and stock-picking capabilities to initially invest in a limited number of companies (generally under 100), offering the potential to provide above-average growth over time.</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">Generally, the Adviser will determine which countries are emerging market countries by reference to the countries included in the S&amp;P Emerging Markets Broad Market Index (BMI), and will determine which countries are frontier market countries by reference to the countries included in the S&amp;P Frontier BMI. In addition, the Fund may invest in certain developing market countries that are not included in either the S&amp;P Emerging Markets BMI or the S&amp;P Frontier BMI (for example, Iceland and Senegal), but which are included on another independent third-party listing of emerging market and/or frontier market countries. The Adviser will make all determinations as to whether a company is an emerging market company at the time of investment. The countries that comprise emerging market countries, including frontier market countries, may change from time to time.</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">The Adviser typically seeks companies with:</p> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;">A strong business franchise that offers growth potential.</p> </li><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;">Products and services that give the company a competitive advantage.</p> </li><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;">A stock price the Adviser believes is reasonable relative to the assets and earning power of the company.</p> </li></ul> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">The Adviser may sell a portfolio holding if the security reaches the Adviser's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Adviser believes other securities are more attractive. The Adviser also may sell a portfolio holding to fund redemptions.</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Principal Risks</b></p> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;"> <b>Investment Strategy Risk --</b> The Adviser uses the principal investment strategies and other investment strategies to seek to achieve the Fund's investment objective. There is no assurance that the Fund will achieve its investment objective. Investment decisions made by the Adviser in using these strategies may not produce the returns expected by the Adviser, may cause the Fund's shares to lose value or may cause the Fund to underperform other funds with similar investment objectives.</p> </li></ul> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;"> <b>Market Risk</b> <b>--</b> Market risk refers to the possibility that the market values of securities that the Fund holds will fall, sometimes rapidly or unpredictably. Security values may fall because of factors affecting individual companies, industries or sectors, or the markets as a whole, reducing the value of an investment in the Fund. Accordingly, an investment in the Fund could lose money over short or even long periods. The market values of the securities the Fund holds also can be affected by changes or perceived changes in U.S. or foreign economies and financial markets, and the liquidity of these securities, among other factors. In general, equity securities tend to have greater price volatility than debt securities.</p> </li></ul> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;"> <b>Foreign Securities Risk --</b> Foreign securities are subject to special risks as compared to securities of U.S. issuers. For example, foreign markets can be extremely volatile. Fluctuations in currency exchange rates may impact the value of foreign securities denominated in foreign currencies or in U.S. dollars, without a change in the intrinsic value of those securities. Foreign securities may be less liquid than domestic securities so that the Fund may, at times, be unable to sell foreign securities at desirable times or prices. Brokerage commissions, custodial fees and other fees are also generally higher for foreign securities. The Fund may have limited or no legal recourse in the event of default with respect to certain foreign securities, including those issued by foreign governments. In addition, foreign governments may impose potentially confiscatory withholding or other taxes, which could reduce the amount of income and capital gains available to distribute to s hareholders. Other risks include possible delays in the settlement of transactions or in the payment of income; generally less publicly available information about companies; the impact of political, social or diplomatic events; possible seizure, expropriation or nationalization of a company or its assets; possible imposition of currency exchange controls; and accounting, auditing and financial reporting standards that may be less comprehensive and stringent than those applicable to domestic companies.</p> </li></ul> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;"> <b>Emerging Market Securities Risk</b> <b>--</b> Securities issued by foreign governments or companies in emerging market countries, like those in Eastern Europe, the Middle East, Asia, Latin America or Africa, are more likely to have greater exposure to the risks of investing in foreign securities that are described in <i>Foreign Securities Risk</i>. In addition, emerging market countries are more likely to experience instability resulting, for example, from rapid social, political and economic development. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity than more developed countries. Emerging market securities tend to be more volatile than securities in more developed markets. Many emerging market countries are heavily dependent on international trade, which makes them more sensitive to world commodity prices and economic downturns in other countries. Some emerging market countries have a higher risk of currency de valuations, and some of these countries may experience periods of high inflation or rapid changes in inflation rates.</p> </li></ul> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;"> <b>Frontier Market Risk</b> -- Frontier market countries generally have smaller economies and even less developed capital markets than traditional emerging market countries and, as a result, the risks of investing in emerging market countries are magnified in frontier market countries. The magnification of risks are the result of: potential for extreme price volatility and illiquidity in frontier market countries; government ownership or control of parts of private sector and of certain companies; trade barriers, exchange controls, managed adjustments in relative currency values and other protectionist measures imposed or negotiated by the countries with which frontier market countries trade; and the relatively new and unsettled securities laws in many frontier market countries.</p> </li></ul> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;"> <b>Smaller Company Securities Risk --</b> Securities of small- or mid-capitalization companies ("smaller companies") can, in certain circumstances, have a higher potential for gains than securities of large-capitalization companies but may also have more risk. For example, smaller companies may be more vulnerable to market downturns and adverse business or economic events than larger, more established companies because they may have more limited financial resources and business operations. These companies are also more likely than large-capitalization companies ("larger companies") to have more limited product lines and operating histories and to depend on smaller management teams. Their securities may trade less frequently and in smaller volumes and may be less liquid and fluctuate more sharply in value than securities of larger companies. In cases where the Fund takes significant positions in smaller companies with limited trading volumes, the liquidation of those position s, particularly in a distressed market, could be prolonged and result in investment losses. In addition, some smaller companies may not be widely followed by the investment community, which can lower the demand for their stocks.</p> </li></ul> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;"> <b>Currency Risk --</b> Securities denominated in different currencies are subject to the risk that, for example, if the value of a foreign currency were to decline against the U.S. dollar, such decline would reduce the U.S. dollar value of any securities held by the Fund denominated in that currency.</p> </li></ul> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;"> <b>Sector Risk --</b> At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business in a broadly related group of industries within an economic sector. Companies in the same economic sector may be similarly affected by economic or market events, making the Fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly.</p> </li></ul> <ul><li> <p style="font-size:12;padding-top:0;padding-bottom:0;padding-left:0;"> <b>Special Situations Risk --</b> Securities of companies that are involved in an initial public offering or a major corporate event, such as a business consolidation or restructuring, may present special risk because of the high degree of uncertainty that can be associated with such events. Securities issued in initial public offerings often are issued by companies that are in the early stages of development, have a history of little or no revenues and may operate at a loss following the offering. It is possible that there will be no active trading market for the securities after the offering, and that the market price of the securities may be subject to significant and unpredictable fluctuations. Investing in special situations may have a magnified effect on the performance of funds with small amounts of assets.</p> </li></ul> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;"><b> Performance Information </b></p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">Because the Fund commenced investment operations on or about August 19, 2011, no year-by-year total return bar chart or average annual total return table is being presented. The year-by year-total return bar chart and the average annual total return table will be provided after the Fund has annual returns for at least one calendar year.</p> <p style="font-size:12;padding-top:2;padding-bottom:0;padding-left:0;">More recent performance information will be available on the Columbia Funds' website at www.columbiamanagement.com or by calling 800.345.6611.</p> <div style="display:none">~http://columbia/role/ShareholderFeesDataDDDD column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact columbia_S000033622Member ~</div> 0 <div style="display:none">~ http://columbia/role/OperatingExpensesDataDDDD column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact columbia_S000033622Member ~</div> 0.0125 0 0.0033 0.0158 <div style="display:none">~ http://columbia/role/ExpenseExampleDDDD column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact columbia_S000033622Member ~</div> 161 499 You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Class A shares of eligible Columbia funds within the Columbia family of mutual funds. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Class A shares of eligible Columbia funds within the Columbia family of mutual funds. 50000 50000 More recent performance information will be available on the Columbia Funds' website at www.columbiamanagement.com More recent performance information will be available on the Columbia Funds' website at www.columbiamanagement.com More recent performance information will be available on the Columbia Funds' website at www.columbiamanagement.com More recent performance information will be available on the Columbia Funds' website at www.columbiamanagement.com 800.345.6611 800.345.6611 800.345.6611 800.345.6611 0 2011-08-17 2011-08-17 Contingent deferred sales charges (CDSC) on certain investments of between $1 million and $50 million redeemed within 18 months of purchase, charged as follows: 1.00% CDSC if redeemed within 12 months of purchase, and 0.50% CDSC if redeemed more than 12, but less than 18, months of purchase, with certain limited exceptions. Other expenses are based on estimated amounts for the current fiscal year. This charge applies to investors who buy Class C shares and redeem them within one year of purchase, with certain limited exceptions. Columbia Wanger Asset Management, LLC (the Adviser) has contractually agreed to waive fees and reimburse certain expenses of the Fund so that the ordinary operating expenses (excluding interest and fees on borrowings and expenses associated with the Fund's investment in other investment companies, if any) do not exceed the annual rates of 1.85%, 2.60% and 1.41% of the Fund's average daily net assets attributable to Class A, Class C and Class I shares, respectively, through April 30, 2013. The Adviser may recoup any fees waived and/or expenses reimbursed with respect to any share class of the Fund for a one-year period following the date of such fee waiver and/or reimbursement if such recovery does not cause the Fund's ordinary operating expenses (excluding interest and fees on borrowings and expenses associated with the Fund's investment in other investment companies, if any) to exceed the annual rates set forth in this prospectus, or to exceed such annual rate as may be in place at the time of t he recoupment, whichever is less. This expense arrangement may only be modified or amended with approval from all parties to such arrangements, including the Fund and the Adviser. Contingent deferred sales charges (CDSC) on certain investments of between $1 million and $50 million redeemed within 18 months of purchase, charged as follows: 1.00% CDSC if redeemed within 12 months of purchase, and 0.50% CDSC if redeemed more than 12, but less than 18, months of purchase, with certain limited exceptions. Columbia Wanger Asset Management, LLC (the Adviser) has contractually agreed to waive fees and reimburse certain expenses of the Fund so that the ordinary operating expenses (excluding interest and fees on borrowings and expenses associated with the Fund's investment in other investment companies, if any) do not exceed the annual rates of 1.75%, 2.50% and 1.31% of the Fund's average daily net assets attributable to Class A, Class C and Class I shares, respectively, through April 30, 2013. The Adviser may recoup any fees waived and/or expenses reimbursed with respect to any share class of the Fund for a one-year period following the date of such fee waiver and/or reimbursement if such recovery does not cause the Fund's ordinary operating expenses (excluding interest and fees on borrowings and expenses associated with the Fund's investment in other investment companies, if any) to exceed the annual rates set forth in this prospectus, or to exceed such annual rate as may be in place at the time of t he recoupment, whichever is less. This expense arrangement may only be modified or amended with approval from all parties to such arrangements, including the Fund and the Adviser. Other expenses are based on estimated amounts for the current fiscal year. This charge applies to investors who buy Class C shares and redeem them within one year of purchase, with certain limited exceptions. Other expenses are based on estimated amounts for the current fiscal year. Columbia Wanger Asset Management, LLC (the Adviser) has contractually agreed to waive fees and reimburse certain expenses of the Fund so that the ordinary operating expenses (excluding interest and fees on borrowings and expenses associated with the Fund's investment in other investment companies, if any) do not exceed the annual rate of 1.50% of the Fund's average daily net assets attributable to Class Z, through April 30, 2013. The Adviser may recoup any fees waived and/or expenses reimbursed with respect to any share class of the Fund for a one-year period following the date of such fee waiver and/or reimbursement if such recovery does not cause the Fund's ordinary operating expenses (excluding interest and fees on borrowings and expenses associated with the Fund's investment in other investment companies, if any) to exceed the annual rates set forth in this prospectus, or to exceed such annual rate as may be in place at the time of the recoupment, whichever is less. This expense arrangement m ay only be modified or amended with approval from all parties to such arrangements, including the Fund and the Adviser. Other expenses are based on estimated amounts for the current fiscal year. 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Year, Caption [Text] Expense Example, No Redemption, By Year, Column [Text] Column Expense Example, No Redemption, 1 Year 1 Year Expense Example, No Redemption, 3 Years 3 Years Expense Example, No Redemption, 5 Years 5 Years Expense Example, No Redemption, 10 Years 10 Years Expense Example Closing [Text Block] Prospectus Date Prospectus: Share Class [Axis] Share Classes Prospectus [Line Items] Form N-1A: Risk/Return: Portfolio Turnover [Heading] Portfolio Turnover [Text Block] Bar Chart and Performance Table Section: Bar Chart Narrative: Bar Chart Table: Bar Chart Closing: Average Annual Return: DEPRECATED AverageAnnualReturnAfterTaxesOnDistributionsAbstract DEPRECATED AverageAnnualReturnAfterTaxesOnDistributionsAndSalesAbstract Market Index Return: Performance Narrative: Performance Table Section: Performance Table Closing: Expenses: Shareholder Fees: Operating Expenses: Net Expenses (as a percentage of Assets): Expenses (as a percentage of Assets): Other Expenses over Assets: Expense Footnotes: Expense Footnotes [Text Block] Expense Example Narrative: Expense Example: Expense Example Closing: Expense Example Footnotes [Text Block] Portfolio Turnover: Fee Waiver or Reimbursement over Assets, Date of Termination Portfolio Turnover, Rate Expense Breakpoint, Minimum Investment Required [Amount] Performance Table Footnotes, Reason Performance Information for Class Different from Immediately Preceding Period [Text] Bar Chart Footnotes [Text Block] Performance Table One Class of after Tax Shown [Text] Other Expenses, New Fund, Based on Estimates [Text] Acquired Fund Fees and Expenses, Based on Estimates [Text] Expenses Deferred Charges [Text Block] Expenses Range of Exchange Fees [Text Block] Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] Expenses Explanation of Nonrecurring Account Fee [Text] Index No Deduction for Fees, Expenses, Taxes [Text] Annual Return 2013 Annual Return 2014 Performance Availability Website Address [Text] Performance Availability Phone [Text] S000033622 Member (Columbia Acorn Emerging Markets Fund) S000033621 Member (Columbia Acorn European Fund) AAAA Member (Columbia Acorn European Fund - Classes A, C & I) BBBB Member (Columbia Acorn European Fund - Class Z) CCCC Member (Columbia Acorn Emerging Markets Fund Classes A, C & I) DDDD Member (Columbia Acorn Emerging Markets Fund - Class Z) C000103328 Member Class A Shares C000103329 Member Class C Shares C000103330 Member Class I Shares C000103331 Member Class Z Shares C000103324 Member Class A Shares C000103325 Member Class C Shares C000103326 Member Class I Shares C000103327 Member Class Z Shares EX-101.PRE 7 cik0000002110-20110817_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE XML 8 R3.htm IDEA: XBRL DOCUMENT  v2.3.0.11
(Columbia Acorn European Fund - Class Z) | (Columbia Acorn European Fund)

Investment Objective

The Fund seeks long-term capital appreciation.

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees (fees paid directly from your investment)

Shareholder Fees (Columbia Acorn European Fund)
Class Z Shares
(Columbia Acorn European Fund - Class Z)
Maximum sales charge (load) imposed on purchases, as a % of offering price none
Maximum deferred sales charge (load) imposed on redemptions, as a % of the lower of the original purchase price or net asset value none

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Annual Fund Operating Expenses (Columbia Acorn European Fund)
Class Z Shares
(Columbia Acorn European Fund - Class Z)
Management fees 1.19%
Distribution and/or service (Rule 12b-1) fees none
Other expenses [1] 0.32%
Total annual Fund operating expenses 1.51%
Fee waivers and/or reimbursements [2] (0.01%)
Total annual Fund operating expenses after the fee waivers and/or reimbursements 1.50%
[1] Other expenses are based on estimated amounts for the current fiscal year.
[2] Columbia Wanger Asset Management, LLC (the Adviser) has contractually agreed to waive fees and reimburse certain expenses of the Fund so that the ordinary operating expenses (excluding interest and fees on borrowings and expenses associated with the Fund's investment in other investment companies, if any) do not exceed the annual rate of 1.50% of the Fund's average daily net assets attributable to Class Z, through April 30, 2013. The Adviser may recoup any fees waived and/or expenses reimbursed with respect to any share class of the Fund for a one-year period following the date of such fee waiver and/or reimbursement if such recovery does not cause the Fund's ordinary operating expenses (excluding interest and fees on borrowings and expenses associated with the Fund's investment in other investment companies, if any) to exceed the annual rates set forth in this prospectus, or to exceed such annual rate as may be in place at the time of the recoupment, whichever is less. This expense arrangement m ay only be modified or amended with approval from all parties to such arrangements, including the Fund and the Adviser.

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 Class Z shares of the Fund 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 table above.

The waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire on April 30, 2013 and are only reflected in the 1 year example and the first year of the 3 year example.

Based on the assumptions listed above, your costs would be:

Expense Example (Columbia Acorn European Fund) (USD $)
1 Year
3 Years
Class Z Shares (Columbia Acorn European Fund - Class Z)
153 476

Remember this is an example only. Your actual costs may be higher or lower.

Portfolio Turnover

The Fund pays 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.

Principal Investment Strategies

Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowing for investment purposes) in European companies. Under normal circumstances, the Fund invests at least 70% of its total assets in companies in Western European countries (for example, the United Kingdom, Germany, France and Italy), but also may invest up to 30% of its total assets in companies in emerging Central and Eastern European countries (for example, Poland, the Czech Republic, Turkey and Cyprus), including up to 10% of its total assets in companies in Russia and the Ukraine. For purposes of the Fund's policies, the Fund may invest in a company if (i) it is domiciled in, or the principal trading market for its securities is in, a European country, (ii) it derives 50% or more of its economic value from goods produced, sales made or services performed or has at least 50% of its assets in a European country or (iii) it is a holding company that predominantly holds shares in such companies. The Fund may invest in a variety of countries, industries and sectors and does not attempt to invest a specific percentage of its assets in any given country, industry or sector.

Under normal circumstances, the Fund invests a majority of its net assets in the common stock of small- and mid-sized companies with market capitalizations under $5 billion at the time of investment. However, if the Fund's investments in such companies represent less than a majority of its net assets, the Fund may continue to hold and to make additional investments in an existing company in its portfolio even if that company's capitalization has grown to exceed $5 billion. Except as noted above, under normal circumstances, the Fund may invest in other companies with market capitalizations above $5 billion, provided that immediately after that investment a majority of its net assets would be invested in companies with market capitalizations under $5 billion.

Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Adviser), believes that stocks of companies with market capitalizations under $5 billion, which generally are not as well known by financial analysts as larger companies, may offer higher return potential than stocks of larger companies.

The Fund takes advantage of the Adviser's research and stock-picking capabilities to initially invest in a limited number of companies (generally under 100), offering the potential to provide above-average growth over time.

The Adviser typically seeks companies with:

  • A strong business franchise that offers growth potential.

  • Products and services that give the company a competitive advantage.

  • A stock price the Adviser believes is reasonable relative to the assets and earning power of the company.

The Adviser may sell a portfolio holding if the security reaches the Adviser's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Adviser believes other securities are more attractive. The Adviser also may sell a portfolio holding to fund redemptions.

Principal Risks

  • Investment Strategy Risk -- The Adviser uses the principal investment strategies and other investment strategies to seek to achieve the Fund's investment objective. There is no assurance that the Fund will achieve its investment objective. Investment decisions made by the Adviser in using these strategies may not produce the returns expected by the Adviser, may cause the Fund's shares to lose value or may cause the Fund to underperform other funds with similar investment objectives.

  • Market Risk -- Market risk refers to the possibility that the market values of securities that the Fund holds will fall, sometimes rapidly or unpredictably. Security values may fall because of factors affecting individual companies, industries or sectors, or the markets as a whole, reducing the value of an investment in the Fund. Accordingly, an investment in the Fund could lose money over short or even long periods. The market values of the securities the Fund holds also can be affected by changes or perceived changes in U.S. or foreign economies and financial markets, and the liquidity of these securities, among other factors. In general, equity securities tend to have greater price volatility than debt securities.

  • Foreign Securities Risk -- Foreign securities are subject to special risks as compared to securities of U.S. issuers. For example, foreign markets can be extremely volatile. Fluctuations in currency exchange rates may impact the value of foreign securities denominated in foreign currencies or in U.S. dollars, without a change in the intrinsic value of those securities. Foreign securities may be less liquid than domestic securities so that the Fund may, at times, be unable to sell foreign securities at desirable times or prices. Brokerage commissions, custodial fees and other fees are also generally higher for foreign securities. The Fund may have limited or no legal recourse in the event of default with respect to certain foreign securities, including those issued by foreign governments. In addition, foreign governments may impose potentially confiscatory withholding or other taxes, which could reduce the amount of income and capital gains available to distribute to s hareholders. Other risks include possible delays in the settlement of transactions or in the payment of income; generally less publicly available information about companies; the impact of political, social or diplomatic events; possible seizure, expropriation or nationalization of a company or its assets; possible imposition of currency exchange controls; and accounting, auditing and financial reporting standards that may be less comprehensive and stringent than those applicable to domestic companies.

  • Emerging Market Securities Risk -- Securities issued by foreign governments or companies in emerging market countries, like those in Eastern Europe, the Middle East, Asia, Latin America or Africa, are more likely to have greater exposure to the risks of investing in foreign securities that are described in Foreign Securities Risk. In addition, emerging market countries are more likely to experience instability resulting, for example, from rapid social, political and economic development. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity than more developed countries. Emerging market securities tend to be more volatile than securities in more developed markets. Many emerging market countries are heavily dependent on international trade, which makes them more sensitive to world commodity prices and economic downturns in other countries. Some emerging market countries have a higher risk of currency de valuations, and some of these countries may experience periods of high inflation or rapid changes in inflation rates.

  • Smaller Company Securities Risk -- Securities of small- or mid-capitalization companies ("smaller companies") can, in certain circumstances, have a higher potential for gains than securities of large-capitalization companies but may also have more risk. For example, smaller companies may be more vulnerable to market downturns and adverse business or economic events than larger, more established companies because they may have more limited financial resources and business operations. These companies are also more likely than large-capitalization companies ("larger companies") to have more limited product lines and operating histories and to depend on smaller management teams. Their securities may trade less frequently and in smaller volumes and may be less liquid and fluctuate more sharply in value than securities of larger companies. In cases where the Fund takes significant positions in smaller companies with limited trading volumes, the liquidation of those position s, particularly in a distressed market, could be prolonged and result in investment losses. In addition, some smaller companies may not be widely followed by the investment community, which can lower the demand for their stocks.

  • Currency Risk -- Securities denominated in different currencies are subject to the risk that, for example, if the value of a foreign currency were to decline against the U.S. dollar, such decline would reduce the U.S. dollar value of any securities held by the Fund denominated in that currency.

  • Sector Risk -- At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business in a broadly related group of industries within an economic sector. Companies in the same economic sector may be similarly affected by economic or market events, making the Fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly.

  • Special Situations Risk -- Securities of companies that are involved in an initial public offering or a major corporate event, such as a business consolidation or restructuring, may present special risk because of the high degree of uncertainty that can be associated with such events. Securities issued in initial public offerings often are issued by companies that are in the early stages of development, have a history of little or no revenues and may operate at a loss following the offering. It is possible that there will be no active trading market for the securities after the offering, and that the market price of the securities may be subject to significant and unpredictable fluctuations. Investing in special situations may have a magnified effect on the performance of funds with small amounts of assets.

Performance Information

Because the Fund commenced investment operations on or about August 19, 2011, no year-by-year total return bar chart or average annual total return table is being presented. The year-by year-total return bar chart and the average annual total return table will be provided after the Fund has annual returns for at least one calendar year.

More recent performance information will be available on the Columbia Funds' website at www.columbiamanagement.com or by calling 800.345.6611.

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(Columbia Acorn Emerging Markets Fund Classes A, C & I) | (Columbia Acorn Emerging Markets Fund)

Investment Objective

The Fund seeks long-term capital appreciation.

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Class A shares of eligible Columbia funds within the Columbia family of mutual funds. More information about these and other discounts is available from your financial advisor, in the Choosing a Share Class section beginning on page 17 of this prospectus and in Appendix D to the Statement of Additional Information under Sales Charge Waivers beginning on page D-1.

Shareholder Fees (fees paid directly from your investment)

Shareholder Fees (Columbia Acorn Emerging Markets Fund Classes A, C & I) (Columbia Acorn Emerging Markets Fund)
Class A Shares
Class C Shares
Class I Shares
Maximum sales charge (load) imposed on purchases, as a % of offering price 5.75%    
Maximum deferred sales charge (load) imposed on redemptions, as a % of the lower of the original purchase price or net asset value 1.00% [1] 1.00% [2]  
[1] Contingent deferred sales charges (CDSC) on certain investments of between $1 million and $50 million redeemed within 18 months of purchase, charged as follows: 1.00% CDSC if redeemed within 12 months of purchase, and 0.50% CDSC if redeemed more than 12, but less than 18, months of purchase, with certain limited exceptions.
[2] This charge applies to investors who buy Class C shares and redeem them within one year of purchase, with certain limited exceptions.

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Annual Fund Operating Expenses (Columbia Acorn Emerging Markets Fund Classes A, C & I) (Columbia Acorn Emerging Markets Fund)
Class A Shares
Class C Shares
Class I Shares
Management fees 1.25% 1.25% 1.25%
Distribution and/or service (Rule 12b-1) fees 0.25% 1.00% none
Other expenses [1] 0.46% 0.48% 0.27%
Total annual Fund operating expenses 1.96% 2.73% 1.52%
Fee waivers and/or reimbursements [2] (0.11%) (0.13%) (0.11%)
Total annual Fund operating expenses after the fee waivers and/or reimbursements 1.85% 2.60% 1.41%
[1] Other expenses are based on estimated amounts for the current fiscal year.
[2] Columbia Wanger Asset Management, LLC (the Adviser) has contractually agreed to waive fees and reimburse certain expenses of the Fund so that the ordinary operating expenses (excluding interest and fees on borrowings and expenses associated with the Fund's investment in other investment companies, if any) do not exceed the annual rates of 1.85%, 2.60% and 1.41% of the Fund's average daily net assets attributable to Class A, Class C and Class I shares, respectively, through April 30, 2013. The Adviser may recoup any fees waived and/or expenses reimbursed with respect to any share class of the Fund for a one-year period following the date of such fee waiver and/or reimbursement if such recovery does not cause the Fund's ordinary operating expenses (excluding interest and fees on borrowings and expenses associated with the Fund's investment in other investment companies, if any) to exceed the annual rates set forth in this prospectus, or to exceed such annual rate as may be in place at the time of t he recoupment, whichever is less. This expense arrangement may only be modified or amended with approval from all parties to such arrangements, including the Fund and the Adviser.

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 Class A, Class C or Class I shares of the Fund 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 table above.

The waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire on April 30, 2013 and are only reflected in the 1 year example and the first year of the 3 year example.

Based on the assumptions listed above, your costs would be:

Expense Example (Columbia Acorn Emerging Markets Fund) (Columbia Acorn Emerging Markets Fund Classes A, C & I) (USD $)
1 Year
3 Years
Class A Shares
752 1,145
Class C Shares
363 835
Class I Shares
144 470
Expense Example, No Redemption (Columbia Acorn Emerging Markets Fund) (USD $)
1 Year
3 Years
Class C Shares (Columbia Acorn Emerging Markets Fund Classes A, C & I)
263 835

Remember this is an example only. Your actual costs may be higher or lower.

Portfolio Turnover

The Fund pays 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.

Principal Investment Strategies

Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowing for investment purposes) in companies located in emerging market countries, including frontier market countries. Emerging market countries are those countries whose economies are developing or emerging from underdevelopment (for example, China, India, Poland and Turkey). Frontier market countries generally have smaller economies and even less developed capital markets than traditional emerging market countries (for example, Vietnam, Colombia, Nigeria and Kazakhstan). For purposes of the Fund's policies, the Fund may invest in a company if (i) it is domiciled in, or the principal trading market for its securities is in, an emerging market country, (ii) it derives 50% or more of its economic value from goods produced, sales made or services performed or has at least 50% of its assets in an emerging market country or countries or (iii) it is a holding company that predominantly holds shares in such companies. The Fund may invest in a variety of countries, industries and sectors and does not attempt to invest a specific percentage of its assets in any given country, industry or sector.

Under normal circumstances, the Fund invests a majority of its net assets in the common stock of small- and mid-sized companies with market capitalizations under $5 billion at the time of investment. However, if the Fund's investments in such companies represent less than a majority of its net assets, the Fund may continue to hold and to make additional investments in an existing company in its portfolio even if that company's capitalization has grown to exceed $5 billion. Except as noted above, under normal circumstances, the Fund may invest in other companies with market capitalizations above $5 billion, provided that immediately after that investment a majority of its net assets would be invested in companies with market capitalizations under $5 billion. Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Adviser), believes that stocks of companies with market capitalizations under $5 billion, wh ich generally are not as well known by financial analysts as larger companies, may offer higher return potential than stocks of larger companies.

The Fund takes advantage of the Adviser's research and stock-picking capabilities to initially invest in a limited number of companies (generally under 100), offering the potential to provide above-average growth over time.

Generally, the Adviser will determine which countries are emerging market countries by reference to the countries included in the S&P Emerging Markets Broad Market Index (BMI), and will determine which countries are frontier market countries by reference to the countries included in the S&P Frontier BMI. In addition, the Fund may invest in certain developing market countries that are not included in either the S&P Emerging Markets BMI or the S&P Frontier BMI (for example, Iceland and Senegal), but which are included on another independent third-party listing of emerging market and/or frontier market countries. The Adviser will make all determinations as to whether a company is an emerging market company at the time of investment. The countries that comprise emerging market countries, including frontier market countries, may change from time to time.

The Adviser typically seeks companies with:

  • A strong business franchise that offers growth potential.

  • Products and services that give the company a competitive advantage.

  • A stock price the Adviser believes is reasonable relative to the assets and earning power of the company.

The Adviser may sell a portfolio holding if the security reaches the Adviser's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Adviser believes other securities are more attractive. The Adviser also may sell a portfolio holding to fund redemptions.

Principal Risks

  • Investment Strategy Risk -- The Adviser uses the principal investment strategies and other investment strategies to seek to achieve the Fund's investment objective. There is no assurance that the Fund will achieve its investment objective. Investment decisions made by the Adviser in using these strategies may not produce the returns expected by the Adviser, may cause the Fund's shares to lose value or may cause the Fund to underperform other funds with similar investment objectives.

  • Market Risk -- Market risk refers to the possibility that the market values of securities that the Fund holds will fall, sometimes rapidly or unpredictably. Security values may fall because of factors affecting individual companies, industries or sectors, or the markets as a whole, reducing the value of an investment in the Fund. Accordingly, an investment in the Fund could lose money over short or even long periods. The market values of the securities the Fund holds also can be affected by changes or perceived changes in U.S. or foreign economies and financial markets, and the liquidity of these securities, among other factors. In general, equity securities tend to have greater price volatility than debt securities.

  • Foreign Securities Risk -- Foreign securities are subject to special risks as compared to securities of U.S. issuers. For example, foreign markets can be extremely volatile. Fluctuations in currency exchange rates may impact the value of foreign securities denominated in foreign currencies or in U.S. dollars, without a change in the intrinsic value of those securities. Foreign securities may be less liquid than domestic securities so that the Fund may, at times, be unable to sell foreign securities at desirable times or prices. Brokerage commissions, custodial fees and other fees are also generally higher for foreign securities. The Fund may have limited or no legal recourse in the event of default with respect to certain foreign securities, including those issued by foreign governments. In addition, foreign governments may impose potentially confiscatory withholding or other taxes, which could reduce the amount of income and capital gains available to distribute to s hareholders. Other risks include possible delays in the settlement of transactions or in the payment of income; generally less publicly available information about companies; the impact of political, social or diplomatic events; possible seizure, expropriation or nationalization of a company or its assets; possible imposition of currency exchange controls; and accounting, auditing and financial reporting standards that may be less comprehensive and stringent than those applicable to domestic companies.

  • Emerging Market Securities Risk -- Securities issued by foreign governments or companies in emerging market countries, like those in Eastern Europe, the Middle East, Asia, Latin America or Africa, are more likely to have greater exposure to the risks of investing in foreign securities that are described in Foreign Securities Risk. In addition, emerging market countries are more likely to experience instability resulting, for example, from rapid social, political and economic development. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity than more developed countries. Emerging market securities tend to be more volatile than securities in more developed markets. Many emerging market countries are heavily dependent on international trade, which makes them more sensitive to world commodity prices and economic downturns in other countries. Some emerging market countries have a higher risk of currency de valuations, and some of these countries may experience periods of high inflation or rapid changes in inflation rates.

  • Frontier Market Risk -- Frontier market countries generally have smaller economies and even less developed capital markets than traditional emerging market countries and, as a result, the risks of investing in emerging market countries are magnified in frontier market countries. The magnification of risks are the result of: potential for extreme price volatility and illiquidity in frontier market countries; government ownership or control of parts of private sector and of certain companies; trade barriers, exchange controls, managed adjustments in relative currency values and other protectionist measures imposed or negotiated by the countries with which frontier market countries trade; and the relatively new and unsettled securities laws in many frontier market countries.

  • Smaller Company Securities Risk -- Securities of small- or mid-capitalization companies ("smaller companies") can, in certain circumstances, have a higher potential for gains than securities of large-capitalization companies but may also have more risk. For example, smaller companies may be more vulnerable to market downturns and adverse business or economic events than larger, more established companies because they may have more limited financial resources and business operations. These companies are also more likely than large-capitalization companies ("larger companies") to have more limited product lines and operating histories and to depend on smaller management teams. Their securities may trade less frequently and in smaller volumes and may be less liquid and fluctuate more sharply in value than securities of larger companies. In cases where the Fund takes significant positions in smaller companies with limited trading volumes, the liquidation of those position s, particularly in a distressed market, could be prolonged and result in investment losses. In addition, some smaller companies may not be widely followed by the investment community, which can lower the demand for their stocks.

  • Currency Risk -- Securities denominated in different currencies are subject to the risk that, for example, if the value of a foreign currency were to decline against the U.S. dollar, such decline would reduce the U.S. dollar value of any securities held by the Fund denominated in that currency.

  • Sector Risk -- At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business in a broadly related group of industries within an economic sector. Companies in the same economic sector may be similarly affected by economic or market events, making the Fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly.

  • Special Situations Risk -- Securities of companies that are involved in an initial public offering or a major corporate event, such as a business consolidation or restructuring, may present special risk because of the high degree of uncertainty that can be associated with such events. Securities issued in initial public offerings often are issued by companies that are in the early stages of development, have a history of little or no revenues and may operate at a loss following the offering. It is possible that there will be no active trading market for the securities after the offering, and that the market price of the securities may be subject to significant and unpredictable fluctuations. Investing in special situations may have a magnified effect on the performance of funds with small amounts of assets.

Performance Information

Because the Fund commenced investment operations on or about August 19, 2011, no year-by-year total return bar chart or average annual total return table is being presented. The year-by year-total return bar chart and the average annual total return table will be provided after the Fund has annual returns for at least one calendar year.

More recent performance information will be available on the Columbia Funds' website at www.columbiamanagement.com or by calling 800.345.6611.

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(Columbia Acorn European Fund - Classes A, C & I) | (Columbia Acorn European Fund)

Investment Objective

The Fund seeks long-term capital appreciation.

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Class A shares of eligible Columbia funds within the Columbia family of mutual funds. More information about these and other discounts is available from your financial advisor, in the Choosing a Share Class section beginning on page 17 of this prospectus and in Appendix D to the Statement of Additional Information under Sales Charge Waivers beginning on page D-1.

Shareholder Fees (fees paid directly from your investment)

Shareholder Fees (Columbia Acorn European Fund - Classes A, C & I) (Columbia Acorn European Fund)
Class A Shares
Class C Shares
Class I Shares
Maximum sales charge (load) imposed on purchases, as a % of offering price 5.75%    
Maximum deferred sales charge (load) imposed on redemptions, as a % of the lower of the original purchase price or net asset value 1.00% [1] 1.00% [2]  
[1] Contingent deferred sales charges (CDSC) on certain investments of between $1 million and $50 million redeemed within 18 months of purchase, charged as follows: 1.00% CDSC if redeemed within 12 months of purchase, and 0.50% CDSC if redeemed more than 12, but less than 18, months of purchase, with certain limited exceptions.
[2] This charge applies to investors who buy Class C shares and redeem them within one year of purchase, with certain limited exceptions.

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Annual Fund Operating Expenses (Columbia Acorn European Fund - Classes A, C & I) (Columbia Acorn European Fund)
Class A Shares
Class C Shares
Class I Shares
Management fees 1.19% 1.19% 1.19%
Distribution and/or service (Rule 12b-1) fees 0.25% 1.00% none
Other expenses [1] 0.45% 0.47% 0.26%
Total annual Fund operating expenses 1.89% 2.66% 1.45%
Fee waivers and/or reimbursements [2] (0.14%) (0.16%) (0.14%)
Total annual Fund operating expenses after the fee waivers and/or reimbursements 1.75% 2.50% 1.31%
[1] Other expenses are based on estimated amounts for the current fiscal year.
[2] Columbia Wanger Asset Management, LLC (the Adviser) has contractually agreed to waive fees and reimburse certain expenses of the Fund so that the ordinary operating expenses (excluding interest and fees on borrowings and expenses associated with the Fund's investment in other investment companies, if any) do not exceed the annual rates of 1.75%, 2.50% and 1.31% of the Fund's average daily net assets attributable to Class A, Class C and Class I shares, respectively, through April 30, 2013. The Adviser may recoup any fees waived and/or expenses reimbursed with respect to any share class of the Fund for a one-year period following the date of such fee waiver and/or reimbursement if such recovery does not cause the Fund's ordinary operating expenses (excluding interest and fees on borrowings and expenses associated with the Fund's investment in other investment companies, if any) to exceed the annual rates set forth in this prospectus, or to exceed such annual rate as may be in place at the time of t he recoupment, whichever is less. This expense arrangement may only be modified or amended with approval from all parties to such arrangements, including the Fund and the Adviser.

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 Class A, Class C or Class I shares of the Fund 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 table above.

The waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire on April 30, 2013 and are only reflected in the 1 year example and the first year of the 3 year example.

Based on the assumptions listed above, your costs would be:

Expense Example (Columbia Acorn European Fund) (Columbia Acorn European Fund - Classes A, C & I) (USD $)
1 Year
3 Years
Class A Shares
743 1,122
Class C Shares
353 811
Class I Shares
133 445
Expense Example, No Redemption (Columbia Acorn European Fund) (USD $)
1 Year
3 Years
Class C Shares (Columbia Acorn European Fund - Classes A, C & I)
253 811

Remember this is an example only. Your actual costs may be higher or lower.

Portfolio Turnover

The Fund pays 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.

Principal Investment Strategies

Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowing for investment purposes) in European companies. Under normal circumstances, the Fund invests at least 70% of its total assets in companies in Western European countries (for example, the United Kingdom, Germany, France and Italy), but also may invest up to 30% of its total assets in companies in emerging Central and Eastern European countries (for example, Poland, the Czech Republic, Turkey and Cyprus), including up to 10% of its total assets in companies in Russia and the Ukraine. For purposes of the Fund's policies, the Fund may invest in a company if (i) it is domiciled in, or the principal trading market for its securities is in, a European country, (ii) it derives 50% or more of its economic value from goods produced, sales made or services performed or has at least 50% of its assets in a European country or (iii) it is a holding company that predominantly holds shares in such companies. The Fund may invest in a variety of countries, industries and sectors and does not attempt to invest a specific percentage of its assets in any given country, industry or sector.

Under normal circumstances, the Fund invests a majority of its net assets in the common stock of small- and mid-sized companies with market capitalizations under $5 billion at the time of investment. However, if the Fund's investments in such companies represent less than a majority of its net assets, the Fund may continue to hold and to make additional investments in an existing company in its portfolio even if that company's capitalization has grown to exceed $5 billion. Except as noted above, under normal circumstances, the Fund may invest in other companies with market capitalizations above $5 billion, provided that immediately after that investment a majority of its net assets would be invested in companies with market capitalizations under $5 billion.

Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Adviser), believes that stocks of companies with market capitalizations under $5 billion, which generally are not as well known by financial analysts as larger companies, may offer higher return potential than stocks of larger companies.

The Fund takes advantage of the Adviser's research and stock-picking capabilities to initially invest in a limited number of companies (generally under 100), offering the potential to provide above-average growth over time.

The Adviser typically seeks companies with:

  • A strong business franchise that offers growth potential.

  • Products and services that give the company a competitive advantage.

  • A stock price the Adviser believes is reasonable relative to the assets and earning power of the company.

The Adviser may sell a portfolio holding if the security reaches the Adviser's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Adviser believes other securities are more attractive. The Adviser also may sell a portfolio holding to fund redemptions.

Principal Risks

  • Investment Strategy Risk -- The Adviser uses the principal investment strategies and other investment strategies to seek to achieve the Fund's investment objective. There is no assurance that the Fund will achieve its investment objective. Investment decisions made by the Adviser in using these strategies may not produce the returns expected by the Adviser, may cause the Fund's shares to lose value or may cause the Fund to underperform other funds with similar investment objectives.

  • Market Risk -- Market risk refers to the possibility that the market values of securities that the Fund holds will fall, sometimes rapidly or unpredictably. Security values may fall because of factors affecting individual companies, industries or sectors, or the markets as a whole, reducing the value of an investment in the Fund. Accordingly, an investment in the Fund could lose money over short or even long periods. The market values of the securities the Fund holds also can be affected by changes or perceived changes in U.S. or foreign economies and financial markets, and the liquidity of these securities, among other factors. In general, equity securities tend to have greater price volatility than debt securities.

  • Foreign Securities Risk -- Foreign securities are subject to special risks as compared to securities of U.S. issuers. For example, foreign markets can be extremely volatile. Fluctuations in currency exchange rates may impact the value of foreign securities denominated in foreign currencies or in U.S. dollars, without a change in the intrinsic value of those securities. Foreign securities may be less liquid than domestic securities so that the Fund may, at times, be unable to sell foreign securities at desirable times or prices. Brokerage commissions, custodial fees and other fees are also generally higher for foreign securities. The Fund may have limited or no legal recourse in the event of default with respect to certain foreign securities, including those issued by foreign governments. In addition, foreign governments may impose potentially confiscatory withholding or other taxes, which could reduce the amount of income and capital gains available to distribute to s hareholders. Other risks include possible delays in the settlement of transactions or in the payment of income; generally less publicly available information about companies; the impact of political, social or diplomatic events; possible seizure, expropriation or nationalization of a company or its assets; possible imposition of currency exchange controls; and accounting, auditing and financial reporting standards that may be less comprehensive and stringent than those applicable to domestic companies.

  • Emerging Market Securities Risk -- Securities issued by foreign governments or companies in emerging market countries, like those in Eastern Europe, the Middle East, Asia, Latin America or Africa, are more likely to have greater exposure to the risks of investing in foreign securities that are described in Foreign Securities Risk. In addition, emerging market countries are more likely to experience instability resulting, for example, from rapid social, political and economic development. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity than more developed countries. Emerging market securities tend to be more volatile than securities in more developed markets. Many emerging market countries are heavily dependent on international trade, which makes them more sensitive to world commodity prices and economic downturns in other countries. Some emerging market countries have a higher risk of currency de valuations, and some of these countries may experience periods of high inflation or rapid changes in inflation rates.

  • Smaller Company Securities Risk -- Securities of small- or mid-capitalization companies ("smaller companies") can, in certain circumstances, have a higher potential for gains than securities of large-capitalization companies but may also have more risk. For example, smaller companies may be more vulnerable to market downturns and adverse business or economic events than larger, more established companies because they may have more limited financial resources and business operations. These companies are also more likely than large-capitalization companies ("larger companies") to have more limited product lines and operating histories and to depend on smaller management teams. Their securities may trade less frequently and in smaller volumes and may be less liquid and fluctuate more sharply in value than securities of larger companies. In cases where the Fund takes significant positions in smaller companies with limited trading volumes, the liquidation of those position s, particularly in a distressed market, could be prolonged and result in investment losses. In addition, some smaller companies may not be widely followed by the investment community, which can lower the demand for their stocks.

  • Currency Risk -- Securities denominated in different currencies are subject to the risk that, for example, if the value of a foreign currency were to decline against the U.S. dollar, such decline would reduce the U.S. dollar value of any securities held by the Fund denominated in that currency.

  • Sector Risk -- At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business in a broadly related group of industries within an economic sector. Companies in the same economic sector may be similarly affected by economic or market events, making the Fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly.

  • Special Situations Risk -- Securities of companies that are involved in an initial public offering or a major corporate event, such as a business consolidation or restructuring, may present special risk because of the high degree of uncertainty that can be associated with such events. Securities issued in initial public offerings often are issued by companies that are in the early stages of development, have a history of little or no revenues and may operate at a loss following the offering. It is possible that there will be no active trading market for the securities after the offering, and that the market price of the securities may be subject to significant and unpredictable fluctuations. Investing in special situations may have a magnified effect on the performance of funds with small amounts of assets.

Performance Information

Because the Fund commenced investment operations on or about August 19, 2011, no year-by-year total return bar chart or average annual total return table is being presented. The year-by year-total return bar chart and the average annual total return table will be provided after the Fund has annual returns for at least one calendar year.

More recent performance information will be available on the Columbia Funds' website at www.columbiamanagement.com or by calling 800.345.6611.

(Columbia Acorn European Fund - Class Z) | (Columbia Acorn European Fund)

Investment Objective

The Fund seeks long-term capital appreciation.

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees (fees paid directly from your investment)

Shareholder Fees (Columbia Acorn European Fund)
Class Z Shares
(Columbia Acorn European Fund - Class Z)
Maximum sales charge (load) imposed on purchases, as a % of offering price none
Maximum deferred sales charge (load) imposed on redemptions, as a % of the lower of the original purchase price or net asset value none

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Annual Fund Operating Expenses (Columbia Acorn European Fund)
Class Z Shares
(Columbia Acorn European Fund - Class Z)
Management fees 1.19%
Distribution and/or service (Rule 12b-1) fees none
Other expenses [1] 0.32%
Total annual Fund operating expenses 1.51%
Fee waivers and/or reimbursements [2] (0.01%)
Total annual Fund operating expenses after the fee waivers and/or reimbursements 1.50%
[1] Other expenses are based on estimated amounts for the current fiscal year.
[2] Columbia Wanger Asset Management, LLC (the Adviser) has contractually agreed to waive fees and reimburse certain expenses of the Fund so that the ordinary operating expenses (excluding interest and fees on borrowings and expenses associated with the Fund's investment in other investment companies, if any) do not exceed the annual rate of 1.50% of the Fund's average daily net assets attributable to Class Z, through April 30, 2013. The Adviser may recoup any fees waived and/or expenses reimbursed with respect to any share class of the Fund for a one-year period following the date of such fee waiver and/or reimbursement if such recovery does not cause the Fund's ordinary operating expenses (excluding interest and fees on borrowings and expenses associated with the Fund's investment in other investment companies, if any) to exceed the annual rates set forth in this prospectus, or to exceed such annual rate as may be in place at the time of the recoupment, whichever is less. This expense arrangement m ay only be modified or amended with approval from all parties to such arrangements, including the Fund and the Adviser.

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 Class Z shares of the Fund 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 table above.

The waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire on April 30, 2013 and are only reflected in the 1 year example and the first year of the 3 year example.

Based on the assumptions listed above, your costs would be:

Expense Example (Columbia Acorn European Fund) (USD $)
1 Year
3 Years
Class Z Shares (Columbia Acorn European Fund - Class Z)
153 476

Remember this is an example only. Your actual costs may be higher or lower.

Portfolio Turnover

The Fund pays 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.

Principal Investment Strategies

Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowing for investment purposes) in European companies. Under normal circumstances, the Fund invests at least 70% of its total assets in companies in Western European countries (for example, the United Kingdom, Germany, France and Italy), but also may invest up to 30% of its total assets in companies in emerging Central and Eastern European countries (for example, Poland, the Czech Republic, Turkey and Cyprus), including up to 10% of its total assets in companies in Russia and the Ukraine. For purposes of the Fund's policies, the Fund may invest in a company if (i) it is domiciled in, or the principal trading market for its securities is in, a European country, (ii) it derives 50% or more of its economic value from goods produced, sales made or services performed or has at least 50% of its assets in a European country or (iii) it is a holding company that predominantly holds shares in such companies. The Fund may invest in a variety of countries, industries and sectors and does not attempt to invest a specific percentage of its assets in any given country, industry or sector.

Under normal circumstances, the Fund invests a majority of its net assets in the common stock of small- and mid-sized companies with market capitalizations under $5 billion at the time of investment. However, if the Fund's investments in such companies represent less than a majority of its net assets, the Fund may continue to hold and to make additional investments in an existing company in its portfolio even if that company's capitalization has grown to exceed $5 billion. Except as noted above, under normal circumstances, the Fund may invest in other companies with market capitalizations above $5 billion, provided that immediately after that investment a majority of its net assets would be invested in companies with market capitalizations under $5 billion.

Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Adviser), believes that stocks of companies with market capitalizations under $5 billion, which generally are not as well known by financial analysts as larger companies, may offer higher return potential than stocks of larger companies.

The Fund takes advantage of the Adviser's research and stock-picking capabilities to initially invest in a limited number of companies (generally under 100), offering the potential to provide above-average growth over time.

The Adviser typically seeks companies with:

  • A strong business franchise that offers growth potential.

  • Products and services that give the company a competitive advantage.

  • A stock price the Adviser believes is reasonable relative to the assets and earning power of the company.

The Adviser may sell a portfolio holding if the security reaches the Adviser's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Adviser believes other securities are more attractive. The Adviser also may sell a portfolio holding to fund redemptions.

Principal Risks

  • Investment Strategy Risk -- The Adviser uses the principal investment strategies and other investment strategies to seek to achieve the Fund's investment objective. There is no assurance that the Fund will achieve its investment objective. Investment decisions made by the Adviser in using these strategies may not produce the returns expected by the Adviser, may cause the Fund's shares to lose value or may cause the Fund to underperform other funds with similar investment objectives.

  • Market Risk -- Market risk refers to the possibility that the market values of securities that the Fund holds will fall, sometimes rapidly or unpredictably. Security values may fall because of factors affecting individual companies, industries or sectors, or the markets as a whole, reducing the value of an investment in the Fund. Accordingly, an investment in the Fund could lose money over short or even long periods. The market values of the securities the Fund holds also can be affected by changes or perceived changes in U.S. or foreign economies and financial markets, and the liquidity of these securities, among other factors. In general, equity securities tend to have greater price volatility than debt securities.

  • Foreign Securities Risk -- Foreign securities are subject to special risks as compared to securities of U.S. issuers. For example, foreign markets can be extremely volatile. Fluctuations in currency exchange rates may impact the value of foreign securities denominated in foreign currencies or in U.S. dollars, without a change in the intrinsic value of those securities. Foreign securities may be less liquid than domestic securities so that the Fund may, at times, be unable to sell foreign securities at desirable times or prices. Brokerage commissions, custodial fees and other fees are also generally higher for foreign securities. The Fund may have limited or no legal recourse in the event of default with respect to certain foreign securities, including those issued by foreign governments. In addition, foreign governments may impose potentially confiscatory withholding or other taxes, which could reduce the amount of income and capital gains available to distribute to s hareholders. Other risks include possible delays in the settlement of transactions or in the payment of income; generally less publicly available information about companies; the impact of political, social or diplomatic events; possible seizure, expropriation or nationalization of a company or its assets; possible imposition of currency exchange controls; and accounting, auditing and financial reporting standards that may be less comprehensive and stringent than those applicable to domestic companies.

  • Emerging Market Securities Risk -- Securities issued by foreign governments or companies in emerging market countries, like those in Eastern Europe, the Middle East, Asia, Latin America or Africa, are more likely to have greater exposure to the risks of investing in foreign securities that are described in Foreign Securities Risk. In addition, emerging market countries are more likely to experience instability resulting, for example, from rapid social, political and economic development. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity than more developed countries. Emerging market securities tend to be more volatile than securities in more developed markets. Many emerging market countries are heavily dependent on international trade, which makes them more sensitive to world commodity prices and economic downturns in other countries. Some emerging market countries have a higher risk of currency de valuations, and some of these countries may experience periods of high inflation or rapid changes in inflation rates.

  • Smaller Company Securities Risk -- Securities of small- or mid-capitalization companies ("smaller companies") can, in certain circumstances, have a higher potential for gains than securities of large-capitalization companies but may also have more risk. For example, smaller companies may be more vulnerable to market downturns and adverse business or economic events than larger, more established companies because they may have more limited financial resources and business operations. These companies are also more likely than large-capitalization companies ("larger companies") to have more limited product lines and operating histories and to depend on smaller management teams. Their securities may trade less frequently and in smaller volumes and may be less liquid and fluctuate more sharply in value than securities of larger companies. In cases where the Fund takes significant positions in smaller companies with limited trading volumes, the liquidation of those position s, particularly in a distressed market, could be prolonged and result in investment losses. In addition, some smaller companies may not be widely followed by the investment community, which can lower the demand for their stocks.

  • Currency Risk -- Securities denominated in different currencies are subject to the risk that, for example, if the value of a foreign currency were to decline against the U.S. dollar, such decline would reduce the U.S. dollar value of any securities held by the Fund denominated in that currency.

  • Sector Risk -- At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business in a broadly related group of industries within an economic sector. Companies in the same economic sector may be similarly affected by economic or market events, making the Fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly.

  • Special Situations Risk -- Securities of companies that are involved in an initial public offering or a major corporate event, such as a business consolidation or restructuring, may present special risk because of the high degree of uncertainty that can be associated with such events. Securities issued in initial public offerings often are issued by companies that are in the early stages of development, have a history of little or no revenues and may operate at a loss following the offering. It is possible that there will be no active trading market for the securities after the offering, and that the market price of the securities may be subject to significant and unpredictable fluctuations. Investing in special situations may have a magnified effect on the performance of funds with small amounts of assets.

Performance Information

Because the Fund commenced investment operations on or about August 19, 2011, no year-by-year total return bar chart or average annual total return table is being presented. The year-by year-total return bar chart and the average annual total return table will be provided after the Fund has annual returns for at least one calendar year.

More recent performance information will be available on the Columbia Funds' website at www.columbiamanagement.com or by calling 800.345.6611.

(Columbia Acorn Emerging Markets Fund Classes A, C & I) | (Columbia Acorn Emerging Markets Fund)

Investment Objective

The Fund seeks long-term capital appreciation.

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Class A shares of eligible Columbia funds within the Columbia family of mutual funds. More information about these and other discounts is available from your financial advisor, in the Choosing a Share Class section beginning on page 17 of this prospectus and in Appendix D to the Statement of Additional Information under Sales Charge Waivers beginning on page D-1.

Shareholder Fees (fees paid directly from your investment)

Shareholder Fees (Columbia Acorn Emerging Markets Fund Classes A, C & I) (Columbia Acorn Emerging Markets Fund)
Class A Shares
Class C Shares
Class I Shares
Maximum sales charge (load) imposed on purchases, as a % of offering price 5.75%    
Maximum deferred sales charge (load) imposed on redemptions, as a % of the lower of the original purchase price or net asset value 1.00% [1] 1.00% [2]  
[1] Contingent deferred sales charges (CDSC) on certain investments of between $1 million and $50 million redeemed within 18 months of purchase, charged as follows: 1.00% CDSC if redeemed within 12 months of purchase, and 0.50% CDSC if redeemed more than 12, but less than 18, months of purchase, with certain limited exceptions.
[2] This charge applies to investors who buy Class C shares and redeem them within one year of purchase, with certain limited exceptions.

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Annual Fund Operating Expenses (Columbia Acorn Emerging Markets Fund Classes A, C & I) (Columbia Acorn Emerging Markets Fund)
Class A Shares
Class C Shares
Class I Shares
Management fees 1.25% 1.25% 1.25%
Distribution and/or service (Rule 12b-1) fees 0.25% 1.00% none
Other expenses [1] 0.46% 0.48% 0.27%
Total annual Fund operating expenses 1.96% 2.73% 1.52%
Fee waivers and/or reimbursements [2] (0.11%) (0.13%) (0.11%)
Total annual Fund operating expenses after the fee waivers and/or reimbursements 1.85% 2.60% 1.41%
[1] Other expenses are based on estimated amounts for the current fiscal year.
[2] Columbia Wanger Asset Management, LLC (the Adviser) has contractually agreed to waive fees and reimburse certain expenses of the Fund so that the ordinary operating expenses (excluding interest and fees on borrowings and expenses associated with the Fund's investment in other investment companies, if any) do not exceed the annual rates of 1.85%, 2.60% and 1.41% of the Fund's average daily net assets attributable to Class A, Class C and Class I shares, respectively, through April 30, 2013. The Adviser may recoup any fees waived and/or expenses reimbursed with respect to any share class of the Fund for a one-year period following the date of such fee waiver and/or reimbursement if such recovery does not cause the Fund's ordinary operating expenses (excluding interest and fees on borrowings and expenses associated with the Fund's investment in other investment companies, if any) to exceed the annual rates set forth in this prospectus, or to exceed such annual rate as may be in place at the time of t he recoupment, whichever is less. This expense arrangement may only be modified or amended with approval from all parties to such arrangements, including the Fund and the Adviser.

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 Class A, Class C or Class I shares of the Fund 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 table above.

The waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire on April 30, 2013 and are only reflected in the 1 year example and the first year of the 3 year example.

Based on the assumptions listed above, your costs would be:

Expense Example (Columbia Acorn Emerging Markets Fund) (Columbia Acorn Emerging Markets Fund Classes A, C & I) (USD $)
1 Year
3 Years
Class A Shares
752 1,145
Class C Shares
363 835
Class I Shares
144 470
Expense Example, No Redemption (Columbia Acorn Emerging Markets Fund) (USD $)
1 Year
3 Years
Class C Shares (Columbia Acorn Emerging Markets Fund Classes A, C & I)
263 835

Remember this is an example only. Your actual costs may be higher or lower.

Portfolio Turnover

The Fund pays 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.

Principal Investment Strategies

Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowing for investment purposes) in companies located in emerging market countries, including frontier market countries. Emerging market countries are those countries whose economies are developing or emerging from underdevelopment (for example, China, India, Poland and Turkey). Frontier market countries generally have smaller economies and even less developed capital markets than traditional emerging market countries (for example, Vietnam, Colombia, Nigeria and Kazakhstan). For purposes of the Fund's policies, the Fund may invest in a company if (i) it is domiciled in, or the principal trading market for its securities is in, an emerging market country, (ii) it derives 50% or more of its economic value from goods produced, sales made or services performed or has at least 50% of its assets in an emerging market country or countries or (iii) it is a holding company that predominantly holds shares in such companies. The Fund may invest in a variety of countries, industries and sectors and does not attempt to invest a specific percentage of its assets in any given country, industry or sector.

Under normal circumstances, the Fund invests a majority of its net assets in the common stock of small- and mid-sized companies with market capitalizations under $5 billion at the time of investment. However, if the Fund's investments in such companies represent less than a majority of its net assets, the Fund may continue to hold and to make additional investments in an existing company in its portfolio even if that company's capitalization has grown to exceed $5 billion. Except as noted above, under normal circumstances, the Fund may invest in other companies with market capitalizations above $5 billion, provided that immediately after that investment a majority of its net assets would be invested in companies with market capitalizations under $5 billion. Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Adviser), believes that stocks of companies with market capitalizations under $5 billion, wh ich generally are not as well known by financial analysts as larger companies, may offer higher return potential than stocks of larger companies.

The Fund takes advantage of the Adviser's research and stock-picking capabilities to initially invest in a limited number of companies (generally under 100), offering the potential to provide above-average growth over time.

Generally, the Adviser will determine which countries are emerging market countries by reference to the countries included in the S&P Emerging Markets Broad Market Index (BMI), and will determine which countries are frontier market countries by reference to the countries included in the S&P Frontier BMI. In addition, the Fund may invest in certain developing market countries that are not included in either the S&P Emerging Markets BMI or the S&P Frontier BMI (for example, Iceland and Senegal), but which are included on another independent third-party listing of emerging market and/or frontier market countries. The Adviser will make all determinations as to whether a company is an emerging market company at the time of investment. The countries that comprise emerging market countries, including frontier market countries, may change from time to time.

The Adviser typically seeks companies with:

  • A strong business franchise that offers growth potential.

  • Products and services that give the company a competitive advantage.

  • A stock price the Adviser believes is reasonable relative to the assets and earning power of the company.

The Adviser may sell a portfolio holding if the security reaches the Adviser's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Adviser believes other securities are more attractive. The Adviser also may sell a portfolio holding to fund redemptions.

Principal Risks

  • Investment Strategy Risk -- The Adviser uses the principal investment strategies and other investment strategies to seek to achieve the Fund's investment objective. There is no assurance that the Fund will achieve its investment objective. Investment decisions made by the Adviser in using these strategies may not produce the returns expected by the Adviser, may cause the Fund's shares to lose value or may cause the Fund to underperform other funds with similar investment objectives.

  • Market Risk -- Market risk refers to the possibility that the market values of securities that the Fund holds will fall, sometimes rapidly or unpredictably. Security values may fall because of factors affecting individual companies, industries or sectors, or the markets as a whole, reducing the value of an investment in the Fund. Accordingly, an investment in the Fund could lose money over short or even long periods. The market values of the securities the Fund holds also can be affected by changes or perceived changes in U.S. or foreign economies and financial markets, and the liquidity of these securities, among other factors. In general, equity securities tend to have greater price volatility than debt securities.

  • Foreign Securities Risk -- Foreign securities are subject to special risks as compared to securities of U.S. issuers. For example, foreign markets can be extremely volatile. Fluctuations in currency exchange rates may impact the value of foreign securities denominated in foreign currencies or in U.S. dollars, without a change in the intrinsic value of those securities. Foreign securities may be less liquid than domestic securities so that the Fund may, at times, be unable to sell foreign securities at desirable times or prices. Brokerage commissions, custodial fees and other fees are also generally higher for foreign securities. The Fund may have limited or no legal recourse in the event of default with respect to certain foreign securities, including those issued by foreign governments. In addition, foreign governments may impose potentially confiscatory withholding or other taxes, which could reduce the amount of income and capital gains available to distribute to s hareholders. Other risks include possible delays in the settlement of transactions or in the payment of income; generally less publicly available information about companies; the impact of political, social or diplomatic events; possible seizure, expropriation or nationalization of a company or its assets; possible imposition of currency exchange controls; and accounting, auditing and financial reporting standards that may be less comprehensive and stringent than those applicable to domestic companies.

  • Emerging Market Securities Risk -- Securities issued by foreign governments or companies in emerging market countries, like those in Eastern Europe, the Middle East, Asia, Latin America or Africa, are more likely to have greater exposure to the risks of investing in foreign securities that are described in Foreign Securities Risk. In addition, emerging market countries are more likely to experience instability resulting, for example, from rapid social, political and economic development. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity than more developed countries. Emerging market securities tend to be more volatile than securities in more developed markets. Many emerging market countries are heavily dependent on international trade, which makes them more sensitive to world commodity prices and economic downturns in other countries. Some emerging market countries have a higher risk of currency de valuations, and some of these countries may experience periods of high inflation or rapid changes in inflation rates.

  • Frontier Market Risk -- Frontier market countries generally have smaller economies and even less developed capital markets than traditional emerging market countries and, as a result, the risks of investing in emerging market countries are magnified in frontier market countries. The magnification of risks are the result of: potential for extreme price volatility and illiquidity in frontier market countries; government ownership or control of parts of private sector and of certain companies; trade barriers, exchange controls, managed adjustments in relative currency values and other protectionist measures imposed or negotiated by the countries with which frontier market countries trade; and the relatively new and unsettled securities laws in many frontier market countries.

  • Smaller Company Securities Risk -- Securities of small- or mid-capitalization companies ("smaller companies") can, in certain circumstances, have a higher potential for gains than securities of large-capitalization companies but may also have more risk. For example, smaller companies may be more vulnerable to market downturns and adverse business or economic events than larger, more established companies because they may have more limited financial resources and business operations. These companies are also more likely than large-capitalization companies ("larger companies") to have more limited product lines and operating histories and to depend on smaller management teams. Their securities may trade less frequently and in smaller volumes and may be less liquid and fluctuate more sharply in value than securities of larger companies. In cases where the Fund takes significant positions in smaller companies with limited trading volumes, the liquidation of those position s, particularly in a distressed market, could be prolonged and result in investment losses. In addition, some smaller companies may not be widely followed by the investment community, which can lower the demand for their stocks.

  • Currency Risk -- Securities denominated in different currencies are subject to the risk that, for example, if the value of a foreign currency were to decline against the U.S. dollar, such decline would reduce the U.S. dollar value of any securities held by the Fund denominated in that currency.

  • Sector Risk -- At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business in a broadly related group of industries within an economic sector. Companies in the same economic sector may be similarly affected by economic or market events, making the Fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly.

  • Special Situations Risk -- Securities of companies that are involved in an initial public offering or a major corporate event, such as a business consolidation or restructuring, may present special risk because of the high degree of uncertainty that can be associated with such events. Securities issued in initial public offerings often are issued by companies that are in the early stages of development, have a history of little or no revenues and may operate at a loss following the offering. It is possible that there will be no active trading market for the securities after the offering, and that the market price of the securities may be subject to significant and unpredictable fluctuations. Investing in special situations may have a magnified effect on the performance of funds with small amounts of assets.

Performance Information

Because the Fund commenced investment operations on or about August 19, 2011, no year-by-year total return bar chart or average annual total return table is being presented. The year-by year-total return bar chart and the average annual total return table will be provided after the Fund has annual returns for at least one calendar year.

More recent performance information will be available on the Columbia Funds' website at www.columbiamanagement.com or by calling 800.345.6611.

(Columbia Acorn Emerging Markets Fund - Class Z) | (Columbia Acorn Emerging Markets Fund)

Investment Objective

The Fund seeks long-term capital appreciation.

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees (fees paid directly from your investment)

Shareholder Fees (Columbia Acorn Emerging Markets Fund)
Class Z Shares
(Columbia Acorn Emerging Markets Fund - Class Z)
Maximum sales charge (load) imposed on purchases, as a % of offering price none
Maximum deferred sales charge (load) imposed on redemptions, as a % of the lower of the original purchase price or net asset value none

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Annual Fund Operating Expenses (Columbia Acorn Emerging Markets Fund)
Class Z Shares
(Columbia Acorn Emerging Markets Fund - Class Z)
Management fees 1.25%
Distribution and/or service (Rule 12b-1) fees none
Other expenses [1] 0.33%
Total annual Fund operating expenses 1.58%
[1] Other expenses are based on estimated amounts for the current fiscal year.

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 Class Z shares of the Fund 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 table above.

Based on the assumptions listed above, your costs would be:

Expense Example (Columbia Acorn Emerging Markets Fund) (USD $)
1 Year
3 Years
Class Z Shares (Columbia Acorn Emerging Markets Fund - Class Z)
161 499

Remember this is an example only. Your actual costs may be higher or lower.

Portfolio Turnover

The Fund pays 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.

Principal Investment Strategies

Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowing for investment purposes) in companies located in emerging market countries, including frontier market countries. Emerging market countries are those countries whose economies are developing or emerging from underdevelopment (for example, China, India, Poland and Turkey). Frontier market countries generally have smaller economies and even less developed capital markets than traditional emerging market countries (for example, Vietnam, Colombia, Nigeria and Kazakhstan). For purposes of the Fund's policies, the Fund may invest in a company if (i) it is domiciled in, or the principal trading market for its securities is in, an emerging market country, (ii) it derives 50% or more of its economic value from goods produced, sales made or services performed or has at least 50% of its assets in an emerging market country or countries or (iii) it is a holding company that predominantly holds shares in such companies. The Fund may invest in a variety of countries, industries and sectors and does not attempt to invest a specific percentage of its assets in any given country, industry or sector.

Under normal circumstances, the Fund invests a majority of its net assets in the common stock of small- and mid-sized companies with market capitalizations under $5 billion at the time of investment. However, if the Fund's investments in such companies represent less than a majority of its net assets, the Fund may continue to hold and to make additional investments in an existing company in its portfolio even if that company's capitalization has grown to exceed $5 billion. Except as noted above, under normal circumstances, the Fund may invest in other companies with market capitalizations above $5 billion, provided that immediately after that investment a majority of its net assets would be invested in companies with market capitalizations under $5 billion. Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Adviser), believes that stocks of companies with market capitalizations under $5 billion, wh ich generally are not as well known by financial analysts as larger companies, may offer higher return potential than stocks of larger companies.

The Fund takes advantage of the Adviser's research and stock-picking capabilities to initially invest in a limited number of companies (generally under 100), offering the potential to provide above-average growth over time.

Generally, the Adviser will determine which countries are emerging market countries by reference to the countries included in the S&P Emerging Markets Broad Market Index (BMI), and will determine which countries are frontier market countries by reference to the countries included in the S&P Frontier BMI. In addition, the Fund may invest in certain developing market countries that are not included in either the S&P Emerging Markets BMI or the S&P Frontier BMI (for example, Iceland and Senegal), but which are included on another independent third-party listing of emerging market and/or frontier market countries. The Adviser will make all determinations as to whether a company is an emerging market company at the time of investment. The countries that comprise emerging market countries, including frontier market countries, may change from time to time.

The Adviser typically seeks companies with:

  • A strong business franchise that offers growth potential.

  • Products and services that give the company a competitive advantage.

  • A stock price the Adviser believes is reasonable relative to the assets and earning power of the company.

The Adviser may sell a portfolio holding if the security reaches the Adviser's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Adviser believes other securities are more attractive. The Adviser also may sell a portfolio holding to fund redemptions.

Principal Risks

  • Investment Strategy Risk -- The Adviser uses the principal investment strategies and other investment strategies to seek to achieve the Fund's investment objective. There is no assurance that the Fund will achieve its investment objective. Investment decisions made by the Adviser in using these strategies may not produce the returns expected by the Adviser, may cause the Fund's shares to lose value or may cause the Fund to underperform other funds with similar investment objectives.

  • Market Risk -- Market risk refers to the possibility that the market values of securities that the Fund holds will fall, sometimes rapidly or unpredictably. Security values may fall because of factors affecting individual companies, industries or sectors, or the markets as a whole, reducing the value of an investment in the Fund. Accordingly, an investment in the Fund could lose money over short or even long periods. The market values of the securities the Fund holds also can be affected by changes or perceived changes in U.S. or foreign economies and financial markets, and the liquidity of these securities, among other factors. In general, equity securities tend to have greater price volatility than debt securities.

  • Foreign Securities Risk -- Foreign securities are subject to special risks as compared to securities of U.S. issuers. For example, foreign markets can be extremely volatile. Fluctuations in currency exchange rates may impact the value of foreign securities denominated in foreign currencies or in U.S. dollars, without a change in the intrinsic value of those securities. Foreign securities may be less liquid than domestic securities so that the Fund may, at times, be unable to sell foreign securities at desirable times or prices. Brokerage commissions, custodial fees and other fees are also generally higher for foreign securities. The Fund may have limited or no legal recourse in the event of default with respect to certain foreign securities, including those issued by foreign governments. In addition, foreign governments may impose potentially confiscatory withholding or other taxes, which could reduce the amount of income and capital gains available to distribute to s hareholders. Other risks include possible delays in the settlement of transactions or in the payment of income; generally less publicly available information about companies; the impact of political, social or diplomatic events; possible seizure, expropriation or nationalization of a company or its assets; possible imposition of currency exchange controls; and accounting, auditing and financial reporting standards that may be less comprehensive and stringent than those applicable to domestic companies.

  • Emerging Market Securities Risk -- Securities issued by foreign governments or companies in emerging market countries, like those in Eastern Europe, the Middle East, Asia, Latin America or Africa, are more likely to have greater exposure to the risks of investing in foreign securities that are described in Foreign Securities Risk. In addition, emerging market countries are more likely to experience instability resulting, for example, from rapid social, political and economic development. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity than more developed countries. Emerging market securities tend to be more volatile than securities in more developed markets. Many emerging market countries are heavily dependent on international trade, which makes them more sensitive to world commodity prices and economic downturns in other countries. Some emerging market countries have a higher risk of currency de valuations, and some of these countries may experience periods of high inflation or rapid changes in inflation rates.

  • Frontier Market Risk -- Frontier market countries generally have smaller economies and even less developed capital markets than traditional emerging market countries and, as a result, the risks of investing in emerging market countries are magnified in frontier market countries. The magnification of risks are the result of: potential for extreme price volatility and illiquidity in frontier market countries; government ownership or control of parts of private sector and of certain companies; trade barriers, exchange controls, managed adjustments in relative currency values and other protectionist measures imposed or negotiated by the countries with which frontier market countries trade; and the relatively new and unsettled securities laws in many frontier market countries.

  • Smaller Company Securities Risk -- Securities of small- or mid-capitalization companies ("smaller companies") can, in certain circumstances, have a higher potential for gains than securities of large-capitalization companies but may also have more risk. For example, smaller companies may be more vulnerable to market downturns and adverse business or economic events than larger, more established companies because they may have more limited financial resources and business operations. These companies are also more likely than large-capitalization companies ("larger companies") to have more limited product lines and operating histories and to depend on smaller management teams. Their securities may trade less frequently and in smaller volumes and may be less liquid and fluctuate more sharply in value than securities of larger companies. In cases where the Fund takes significant positions in smaller companies with limited trading volumes, the liquidation of those position s, particularly in a distressed market, could be prolonged and result in investment losses. In addition, some smaller companies may not be widely followed by the investment community, which can lower the demand for their stocks.

  • Currency Risk -- Securities denominated in different currencies are subject to the risk that, for example, if the value of a foreign currency were to decline against the U.S. dollar, such decline would reduce the U.S. dollar value of any securities held by the Fund denominated in that currency.

  • Sector Risk -- At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business in a broadly related group of industries within an economic sector. Companies in the same economic sector may be similarly affected by economic or market events, making the Fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly.

  • Special Situations Risk -- Securities of companies that are involved in an initial public offering or a major corporate event, such as a business consolidation or restructuring, may present special risk because of the high degree of uncertainty that can be associated with such events. Securities issued in initial public offerings often are issued by companies that are in the early stages of development, have a history of little or no revenues and may operate at a loss following the offering. It is possible that there will be no active trading market for the securities after the offering, and that the market price of the securities may be subject to significant and unpredictable fluctuations. Investing in special situations may have a magnified effect on the performance of funds with small amounts of assets.

Performance Information

Because the Fund commenced investment operations on or about August 19, 2011, no year-by-year total return bar chart or average annual total return table is being presented. The year-by year-total return bar chart and the average annual total return table will be provided after the Fund has annual returns for at least one calendar year.

More recent performance information will be available on the Columbia Funds' website at www.columbiamanagement.com or by calling 800.345.6611.

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XML 12 R6.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Shareholder Fees
0 Months Ended
Aug. 19, 2011
(Columbia Acorn European Fund - Classes A, C & I) | (Columbia Acorn European Fund) | Class A Shares
 
Shareholder Fees:  
Maximum sales charge (load) imposed on purchases, as a % of offering price 5.75%
Maximum deferred sales charge (load) imposed on redemptions, as a % of the lower of the original purchase price or net asset value 1.00% [1]
(Columbia Acorn European Fund - Classes A, C & I) | (Columbia Acorn European Fund) | Class C Shares
 
Shareholder Fees:  
Maximum sales charge (load) imposed on purchases, as a % of offering price  
Maximum deferred sales charge (load) imposed on redemptions, as a % of the lower of the original purchase price or net asset value 1.00% [2]
(Columbia Acorn European Fund - Classes A, C & I) | (Columbia Acorn European Fund) | Class I Shares
 
Shareholder Fees:  
Maximum sales charge (load) imposed on purchases, as a % of offering price  
Maximum deferred sales charge (load) imposed on redemptions, as a % of the lower of the original purchase price or net asset value  
(Columbia Acorn European Fund - Class Z) | (Columbia Acorn European Fund) | Class Z Shares
 
Shareholder Fees:  
Maximum sales charge (load) imposed on purchases, as a % of offering price none
Maximum deferred sales charge (load) imposed on redemptions, as a % of the lower of the original purchase price or net asset value none
(Columbia Acorn Emerging Markets Fund Classes A, C & I) | (Columbia Acorn Emerging Markets Fund) | Class A Shares
 
Shareholder Fees:  
Maximum sales charge (load) imposed on purchases, as a % of offering price 5.75%
Maximum deferred sales charge (load) imposed on redemptions, as a % of the lower of the original purchase price or net asset value 1.00% [1]
(Columbia Acorn Emerging Markets Fund Classes A, C & I) | (Columbia Acorn Emerging Markets Fund) | Class C Shares
 
Shareholder Fees:  
Maximum sales charge (load) imposed on purchases, as a % of offering price  
Maximum deferred sales charge (load) imposed on redemptions, as a % of the lower of the original purchase price or net asset value 1.00% [2]
(Columbia Acorn Emerging Markets Fund Classes A, C & I) | (Columbia Acorn Emerging Markets Fund) | Class I Shares
 
Shareholder Fees:  
Maximum sales charge (load) imposed on purchases, as a % of offering price  
Maximum deferred sales charge (load) imposed on redemptions, as a % of the lower of the original purchase price or net asset value  
(Columbia Acorn Emerging Markets Fund - Class Z) | (Columbia Acorn Emerging Markets Fund) | Class Z Shares
 
Shareholder Fees:  
Maximum sales charge (load) imposed on purchases, as a % of offering price none
Maximum deferred sales charge (load) imposed on redemptions, as a % of the lower of the original purchase price or net asset value none
[1] Contingent deferred sales charges (CDSC) on certain investments of between $1 million and $50 million redeemed within 18 months of purchase, charged as follows: 1.00% CDSC if redeemed within 12 months of purchase, and 0.50% CDSC if redeemed more than 12, but less than 18, months of purchase, with certain limited exceptions.
[2] This charge applies to investors who buy Class C shares and redeem them within one year of purchase, with certain limited exceptions.
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Annual Fund Operating Expenses
0 Months Ended
Aug. 19, 2011
(Columbia Acorn European Fund - Classes A, C & I) | (Columbia Acorn European Fund) | Class A Shares
 
Operating Expenses:  
Management fees 1.19%
Distribution and/or service (Rule 12b-1) fees 0.25%
Other expenses 0.45% [1]
Total annual Fund operating expenses 1.89%
Fee waivers and/or reimbursements (0.14%) [2]
Total annual Fund operating expenses after the fee waivers and/or reimbursements 1.75%
(Columbia Acorn European Fund - Classes A, C & I) | (Columbia Acorn European Fund) | Class C Shares
 
Operating Expenses:  
Management fees 1.19%
Distribution and/or service (Rule 12b-1) fees 1.00%
Other expenses 0.47% [1]
Total annual Fund operating expenses 2.66%
Fee waivers and/or reimbursements (0.16%) [2]
Total annual Fund operating expenses after the fee waivers and/or reimbursements 2.50%
(Columbia Acorn European Fund - Classes A, C & I) | (Columbia Acorn European Fund) | Class I Shares
 
Operating Expenses:  
Management fees 1.19%
Distribution and/or service (Rule 12b-1) fees none
Other expenses 0.26% [1]
Total annual Fund operating expenses 1.45%
Fee waivers and/or reimbursements (0.14%) [2]
Total annual Fund operating expenses after the fee waivers and/or reimbursements 1.31%
(Columbia Acorn European Fund - Class Z) | (Columbia Acorn European Fund) | Class Z Shares
 
Operating Expenses:  
Management fees 1.19%
Distribution and/or service (Rule 12b-1) fees none
Other expenses 0.32% [1]
Total annual Fund operating expenses 1.51%
Fee waivers and/or reimbursements (0.01%) [3]
Total annual Fund operating expenses after the fee waivers and/or reimbursements 1.50%
(Columbia Acorn Emerging Markets Fund Classes A, C & I) | (Columbia Acorn Emerging Markets Fund) | Class A Shares
 
Operating Expenses:  
Management fees 1.25%
Distribution and/or service (Rule 12b-1) fees 0.25%
Other expenses 0.46% [1]
Total annual Fund operating expenses 1.96%
Fee waivers and/or reimbursements (0.11%) [4]
Total annual Fund operating expenses after the fee waivers and/or reimbursements 1.85%
(Columbia Acorn Emerging Markets Fund Classes A, C & I) | (Columbia Acorn Emerging Markets Fund) | Class C Shares
 
Operating Expenses:  
Management fees 1.25%
Distribution and/or service (Rule 12b-1) fees 1.00%
Other expenses 0.48% [1]
Total annual Fund operating expenses 2.73%
Fee waivers and/or reimbursements (0.13%) [4]
Total annual Fund operating expenses after the fee waivers and/or reimbursements 2.60%
(Columbia Acorn Emerging Markets Fund Classes A, C & I) | (Columbia Acorn Emerging Markets Fund) | Class I Shares
 
Operating Expenses:  
Management fees 1.25%
Distribution and/or service (Rule 12b-1) fees none
Other expenses 0.27% [1]
Total annual Fund operating expenses 1.52%
Fee waivers and/or reimbursements (0.11%) [4]
Total annual Fund operating expenses after the fee waivers and/or reimbursements 1.41%
(Columbia Acorn Emerging Markets Fund - Class Z) | (Columbia Acorn Emerging Markets Fund) | Class Z Shares
 
Operating Expenses:  
Management fees 1.25%
Distribution and/or service (Rule 12b-1) fees none
Other expenses 0.33% [1]
Total annual Fund operating expenses 1.58%
[1] Other expenses are based on estimated amounts for the current fiscal year.
[2] Columbia Wanger Asset Management, LLC (the Adviser) has contractually agreed to waive fees and reimburse certain expenses of the Fund so that the ordinary operating expenses (excluding interest and fees on borrowings and expenses associated with the Fund's investment in other investment companies, if any) do not exceed the annual rates of 1.75%, 2.50% and 1.31% of the Fund's average daily net assets attributable to Class A, Class C and Class I shares, respectively, through April 30, 2013. The Adviser may recoup any fees waived and/or expenses reimbursed with respect to any share class of the Fund for a one-year period following the date of such fee waiver and/or reimbursement if such recovery does not cause the Fund's ordinary operating expenses (excluding interest and fees on borrowings and expenses associated with the Fund's investment in other investment companies, if any) to exceed the annual rates set forth in this prospectus, or to exceed such annual rate as may be in place at the time of t he recoupment, whichever is less. This expense arrangement may only be modified or amended with approval from all parties to such arrangements, including the Fund and the Adviser.
[3] Columbia Wanger Asset Management, LLC (the Adviser) has contractually agreed to waive fees and reimburse certain expenses of the Fund so that the ordinary operating expenses (excluding interest and fees on borrowings and expenses associated with the Fund's investment in other investment companies, if any) do not exceed the annual rate of 1.50% of the Fund's average daily net assets attributable to Class Z, through April 30, 2013. The Adviser may recoup any fees waived and/or expenses reimbursed with respect to any share class of the Fund for a one-year period following the date of such fee waiver and/or reimbursement if such recovery does not cause the Fund's ordinary operating expenses (excluding interest and fees on borrowings and expenses associated with the Fund's investment in other investment companies, if any) to exceed the annual rates set forth in this prospectus, or to exceed such annual rate as may be in place at the time of the recoupment, whichever is less. This expense arrangement m ay only be modified or amended with approval from all parties to such arrangements, including the Fund and the Adviser.
[4] Columbia Wanger Asset Management, LLC (the Adviser) has contractually agreed to waive fees and reimburse certain expenses of the Fund so that the ordinary operating expenses (excluding interest and fees on borrowings and expenses associated with the Fund's investment in other investment companies, if any) do not exceed the annual rates of 1.85%, 2.60% and 1.41% of the Fund's average daily net assets attributable to Class A, Class C and Class I shares, respectively, through April 30, 2013. The Adviser may recoup any fees waived and/or expenses reimbursed with respect to any share class of the Fund for a one-year period following the date of such fee waiver and/or reimbursement if such recovery does not cause the Fund's ordinary operating expenses (excluding interest and fees on borrowings and expenses associated with the Fund's investment in other investment companies, if any) to exceed the annual rates set forth in this prospectus, or to exceed such annual rate as may be in place at the time of t he recoupment, whichever is less. This expense arrangement may only be modified or amended with approval from all parties to such arrangements, including the Fund and the Adviser.
XML 15 R5.htm IDEA: XBRL DOCUMENT  v2.3.0.11
(Columbia Acorn Emerging Markets Fund - Class Z) | (Columbia Acorn Emerging Markets Fund)

Investment Objective

The Fund seeks long-term capital appreciation.

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees (fees paid directly from your investment)

Shareholder Fees (Columbia Acorn Emerging Markets Fund)
Class Z Shares
(Columbia Acorn Emerging Markets Fund - Class Z)
Maximum sales charge (load) imposed on purchases, as a % of offering price none
Maximum deferred sales charge (load) imposed on redemptions, as a % of the lower of the original purchase price or net asset value none

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Annual Fund Operating Expenses (Columbia Acorn Emerging Markets Fund)
Class Z Shares
(Columbia Acorn Emerging Markets Fund - Class Z)
Management fees 1.25%
Distribution and/or service (Rule 12b-1) fees none
Other expenses [1] 0.33%
Total annual Fund operating expenses 1.58%
[1] Other expenses are based on estimated amounts for the current fiscal year.

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 Class Z shares of the Fund 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 table above.

Based on the assumptions listed above, your costs would be:

Expense Example (Columbia Acorn Emerging Markets Fund) (USD $)
1 Year
3 Years
Class Z Shares (Columbia Acorn Emerging Markets Fund - Class Z)
161 499

Remember this is an example only. Your actual costs may be higher or lower.

Portfolio Turnover

The Fund pays 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.

Principal Investment Strategies

Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowing for investment purposes) in companies located in emerging market countries, including frontier market countries. Emerging market countries are those countries whose economies are developing or emerging from underdevelopment (for example, China, India, Poland and Turkey). Frontier market countries generally have smaller economies and even less developed capital markets than traditional emerging market countries (for example, Vietnam, Colombia, Nigeria and Kazakhstan). For purposes of the Fund's policies, the Fund may invest in a company if (i) it is domiciled in, or the principal trading market for its securities is in, an emerging market country, (ii) it derives 50% or more of its economic value from goods produced, sales made or services performed or has at least 50% of its assets in an emerging market country or countries or (iii) it is a holding company that predominantly holds shares in such companies. The Fund may invest in a variety of countries, industries and sectors and does not attempt to invest a specific percentage of its assets in any given country, industry or sector.

Under normal circumstances, the Fund invests a majority of its net assets in the common stock of small- and mid-sized companies with market capitalizations under $5 billion at the time of investment. However, if the Fund's investments in such companies represent less than a majority of its net assets, the Fund may continue to hold and to make additional investments in an existing company in its portfolio even if that company's capitalization has grown to exceed $5 billion. Except as noted above, under normal circumstances, the Fund may invest in other companies with market capitalizations above $5 billion, provided that immediately after that investment a majority of its net assets would be invested in companies with market capitalizations under $5 billion. Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Adviser), believes that stocks of companies with market capitalizations under $5 billion, wh ich generally are not as well known by financial analysts as larger companies, may offer higher return potential than stocks of larger companies.

The Fund takes advantage of the Adviser's research and stock-picking capabilities to initially invest in a limited number of companies (generally under 100), offering the potential to provide above-average growth over time.

Generally, the Adviser will determine which countries are emerging market countries by reference to the countries included in the S&P Emerging Markets Broad Market Index (BMI), and will determine which countries are frontier market countries by reference to the countries included in the S&P Frontier BMI. In addition, the Fund may invest in certain developing market countries that are not included in either the S&P Emerging Markets BMI or the S&P Frontier BMI (for example, Iceland and Senegal), but which are included on another independent third-party listing of emerging market and/or frontier market countries. The Adviser will make all determinations as to whether a company is an emerging market company at the time of investment. The countries that comprise emerging market countries, including frontier market countries, may change from time to time.

The Adviser typically seeks companies with:

  • A strong business franchise that offers growth potential.

  • Products and services that give the company a competitive advantage.

  • A stock price the Adviser believes is reasonable relative to the assets and earning power of the company.

The Adviser may sell a portfolio holding if the security reaches the Adviser's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Adviser believes other securities are more attractive. The Adviser also may sell a portfolio holding to fund redemptions.

Principal Risks

  • Investment Strategy Risk -- The Adviser uses the principal investment strategies and other investment strategies to seek to achieve the Fund's investment objective. There is no assurance that the Fund will achieve its investment objective. Investment decisions made by the Adviser in using these strategies may not produce the returns expected by the Adviser, may cause the Fund's shares to lose value or may cause the Fund to underperform other funds with similar investment objectives.

  • Market Risk -- Market risk refers to the possibility that the market values of securities that the Fund holds will fall, sometimes rapidly or unpredictably. Security values may fall because of factors affecting individual companies, industries or sectors, or the markets as a whole, reducing the value of an investment in the Fund. Accordingly, an investment in the Fund could lose money over short or even long periods. The market values of the securities the Fund holds also can be affected by changes or perceived changes in U.S. or foreign economies and financial markets, and the liquidity of these securities, among other factors. In general, equity securities tend to have greater price volatility than debt securities.

  • Foreign Securities Risk -- Foreign securities are subject to special risks as compared to securities of U.S. issuers. For example, foreign markets can be extremely volatile. Fluctuations in currency exchange rates may impact the value of foreign securities denominated in foreign currencies or in U.S. dollars, without a change in the intrinsic value of those securities. Foreign securities may be less liquid than domestic securities so that the Fund may, at times, be unable to sell foreign securities at desirable times or prices. Brokerage commissions, custodial fees and other fees are also generally higher for foreign securities. The Fund may have limited or no legal recourse in the event of default with respect to certain foreign securities, including those issued by foreign governments. In addition, foreign governments may impose potentially confiscatory withholding or other taxes, which could reduce the amount of income and capital gains available to distribute to s hareholders. Other risks include possible delays in the settlement of transactions or in the payment of income; generally less publicly available information about companies; the impact of political, social or diplomatic events; possible seizure, expropriation or nationalization of a company or its assets; possible imposition of currency exchange controls; and accounting, auditing and financial reporting standards that may be less comprehensive and stringent than those applicable to domestic companies.

  • Emerging Market Securities Risk -- Securities issued by foreign governments or companies in emerging market countries, like those in Eastern Europe, the Middle East, Asia, Latin America or Africa, are more likely to have greater exposure to the risks of investing in foreign securities that are described in Foreign Securities Risk. In addition, emerging market countries are more likely to experience instability resulting, for example, from rapid social, political and economic development. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity than more developed countries. Emerging market securities tend to be more volatile than securities in more developed markets. Many emerging market countries are heavily dependent on international trade, which makes them more sensitive to world commodity prices and economic downturns in other countries. Some emerging market countries have a higher risk of currency de valuations, and some of these countries may experience periods of high inflation or rapid changes in inflation rates.

  • Frontier Market Risk -- Frontier market countries generally have smaller economies and even less developed capital markets than traditional emerging market countries and, as a result, the risks of investing in emerging market countries are magnified in frontier market countries. The magnification of risks are the result of: potential for extreme price volatility and illiquidity in frontier market countries; government ownership or control of parts of private sector and of certain companies; trade barriers, exchange controls, managed adjustments in relative currency values and other protectionist measures imposed or negotiated by the countries with which frontier market countries trade; and the relatively new and unsettled securities laws in many frontier market countries.

  • Smaller Company Securities Risk -- Securities of small- or mid-capitalization companies ("smaller companies") can, in certain circumstances, have a higher potential for gains than securities of large-capitalization companies but may also have more risk. For example, smaller companies may be more vulnerable to market downturns and adverse business or economic events than larger, more established companies because they may have more limited financial resources and business operations. These companies are also more likely than large-capitalization companies ("larger companies") to have more limited product lines and operating histories and to depend on smaller management teams. Their securities may trade less frequently and in smaller volumes and may be less liquid and fluctuate more sharply in value than securities of larger companies. In cases where the Fund takes significant positions in smaller companies with limited trading volumes, the liquidation of those position s, particularly in a distressed market, could be prolonged and result in investment losses. In addition, some smaller companies may not be widely followed by the investment community, which can lower the demand for their stocks.

  • Currency Risk -- Securities denominated in different currencies are subject to the risk that, for example, if the value of a foreign currency were to decline against the U.S. dollar, such decline would reduce the U.S. dollar value of any securities held by the Fund denominated in that currency.

  • Sector Risk -- At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business in a broadly related group of industries within an economic sector. Companies in the same economic sector may be similarly affected by economic or market events, making the Fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly.

  • Special Situations Risk -- Securities of companies that are involved in an initial public offering or a major corporate event, such as a business consolidation or restructuring, may present special risk because of the high degree of uncertainty that can be associated with such events. Securities issued in initial public offerings often are issued by companies that are in the early stages of development, have a history of little or no revenues and may operate at a loss following the offering. It is possible that there will be no active trading market for the securities after the offering, and that the market price of the securities may be subject to significant and unpredictable fluctuations. Investing in special situations may have a magnified effect on the performance of funds with small amounts of assets.

Performance Information

Because the Fund commenced investment operations on or about August 19, 2011, no year-by-year total return bar chart or average annual total return table is being presented. The year-by year-total return bar chart and the average annual total return table will be provided after the Fund has annual returns for at least one calendar year.

More recent performance information will be available on the Columbia Funds' website at www.columbiamanagement.com or by calling 800.345.6611.

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Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Document Type dei_DocumentType 485BPOS
Document Period End Date dei_DocumentPeriodEndDate Aug. 19, 2011
Registrant Name dei_EntityRegistrantName COLUMBIA ACORN TRUST
Central Index Key dei_EntityCentralIndexKey 0000002110
Amendment Flag dei_AmendmentFlag false
Document Creation Date dei_DocumentCreationDate Aug. 17, 2011
Document Effective Date dei_DocumentEffectiveDate Aug. 17, 2011
Prospectus Date rr_ProspectusDate Aug. 19, 2011
(Columbia Acorn European Fund - Classes A, C & I) | (Columbia Acorn European Fund)
 
Risk/Return: rr_RiskReturnAbstract  
Objective [Heading] rr_ObjectiveHeading

Investment Objective

Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

The Fund seeks long-term capital appreciation.

Expense [Heading] rr_ExpenseHeading

Fees and Expenses of the Fund

Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Class A shares of eligible Columbia funds within the Columbia family of mutual funds. More information about these and other discounts is available from your financial advisor, in the Choosing a Share Class section beginning on page 17 of this prospectus and in Appendix D to the Statement of Additional Information under Sales Charge Waivers beginning on page D-1.

Shareholder Fees Caption [Text] rr_ShareholderFeesCaption

Shareholder Fees (fees paid directly from your investment)

Operating Expenses Caption [Text] rr_OperatingExpensesCaption

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading

Portfolio Turnover

Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock

The Fund pays 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.

Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Class A shares of eligible Columbia funds within the Columbia family of mutual funds.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount 50,000
Expense Example [Heading] rr_ExpenseExampleHeading

Example

Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock

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 Class A, Class C or Class I shares of the Fund 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 table above.

The waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire on April 30, 2013 and are only reflected in the 1 year example and the first year of the 3 year example.

Based on the assumptions listed above, your costs would be:

Expense Example Closing [Text Block] rr_ExpenseExampleClosingTextBlock

Remember this is an example only. Your actual costs may be higher or lower.

Strategy [Heading] rr_StrategyHeading

Principal Investment Strategies

Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock

Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowing for investment purposes) in European companies. Under normal circumstances, the Fund invests at least 70% of its total assets in companies in Western European countries (for example, the United Kingdom, Germany, France and Italy), but also may invest up to 30% of its total assets in companies in emerging Central and Eastern European countries (for example, Poland, the Czech Republic, Turkey and Cyprus), including up to 10% of its total assets in companies in Russia and the Ukraine. For purposes of the Fund's policies, the Fund may invest in a company if (i) it is domiciled in, or the principal trading market for its securities is in, a European country, (ii) it derives 50% or more of its economic value from goods produced, sales made or services performed or has at least 50% of its assets in a European country or (iii) it is a holding company that predominantly holds shares in such companies. The Fund may invest in a variety of countries, industries and sectors and does not attempt to invest a specific percentage of its assets in any given country, industry or sector.

Under normal circumstances, the Fund invests a majority of its net assets in the common stock of small- and mid-sized companies with market capitalizations under $5 billion at the time of investment. However, if the Fund's investments in such companies represent less than a majority of its net assets, the Fund may continue to hold and to make additional investments in an existing company in its portfolio even if that company's capitalization has grown to exceed $5 billion. Except as noted above, under normal circumstances, the Fund may invest in other companies with market capitalizations above $5 billion, provided that immediately after that investment a majority of its net assets would be invested in companies with market capitalizations under $5 billion.

Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Adviser), believes that stocks of companies with market capitalizations under $5 billion, which generally are not as well known by financial analysts as larger companies, may offer higher return potential than stocks of larger companies.

The Fund takes advantage of the Adviser's research and stock-picking capabilities to initially invest in a limited number of companies (generally under 100), offering the potential to provide above-average growth over time.

The Adviser typically seeks companies with:

  • A strong business franchise that offers growth potential.

  • Products and services that give the company a competitive advantage.

  • A stock price the Adviser believes is reasonable relative to the assets and earning power of the company.

The Adviser may sell a portfolio holding if the security reaches the Adviser's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Adviser believes other securities are more attractive. The Adviser also may sell a portfolio holding to fund redemptions.

Risk [Heading] rr_RiskHeading

Principal Risks

Risk Narrative [Text Block] rr_RiskNarrativeTextBlock
  • Investment Strategy Risk -- The Adviser uses the principal investment strategies and other investment strategies to seek to achieve the Fund's investment objective. There is no assurance that the Fund will achieve its investment objective. Investment decisions made by the Adviser in using these strategies may not produce the returns expected by the Adviser, may cause the Fund's shares to lose value or may cause the Fund to underperform other funds with similar investment objectives.

  • Market Risk -- Market risk refers to the possibility that the market values of securities that the Fund holds will fall, sometimes rapidly or unpredictably. Security values may fall because of factors affecting individual companies, industries or sectors, or the markets as a whole, reducing the value of an investment in the Fund. Accordingly, an investment in the Fund could lose money over short or even long periods. The market values of the securities the Fund holds also can be affected by changes or perceived changes in U.S. or foreign economies and financial markets, and the liquidity of these securities, among other factors. In general, equity securities tend to have greater price volatility than debt securities.

  • Foreign Securities Risk -- Foreign securities are subject to special risks as compared to securities of U.S. issuers. For example, foreign markets can be extremely volatile. Fluctuations in currency exchange rates may impact the value of foreign securities denominated in foreign currencies or in U.S. dollars, without a change in the intrinsic value of those securities. Foreign securities may be less liquid than domestic securities so that the Fund may, at times, be unable to sell foreign securities at desirable times or prices. Brokerage commissions, custodial fees and other fees are also generally higher for foreign securities. The Fund may have limited or no legal recourse in the event of default with respect to certain foreign securities, including those issued by foreign governments. In addition, foreign governments may impose potentially confiscatory withholding or other taxes, which could reduce the amount of income and capital gains available to distribute to s hareholders. Other risks include possible delays in the settlement of transactions or in the payment of income; generally less publicly available information about companies; the impact of political, social or diplomatic events; possible seizure, expropriation or nationalization of a company or its assets; possible imposition of currency exchange controls; and accounting, auditing and financial reporting standards that may be less comprehensive and stringent than those applicable to domestic companies.

  • Emerging Market Securities Risk -- Securities issued by foreign governments or companies in emerging market countries, like those in Eastern Europe, the Middle East, Asia, Latin America or Africa, are more likely to have greater exposure to the risks of investing in foreign securities that are described in Foreign Securities Risk. In addition, emerging market countries are more likely to experience instability resulting, for example, from rapid social, political and economic development. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity than more developed countries. Emerging market securities tend to be more volatile than securities in more developed markets. Many emerging market countries are heavily dependent on international trade, which makes them more sensitive to world commodity prices and economic downturns in other countries. Some emerging market countries have a higher risk of currency de valuations, and some of these countries may experience periods of high inflation or rapid changes in inflation rates.

  • Smaller Company Securities Risk -- Securities of small- or mid-capitalization companies ("smaller companies") can, in certain circumstances, have a higher potential for gains than securities of large-capitalization companies but may also have more risk. For example, smaller companies may be more vulnerable to market downturns and adverse business or economic events than larger, more established companies because they may have more limited financial resources and business operations. These companies are also more likely than large-capitalization companies ("larger companies") to have more limited product lines and operating histories and to depend on smaller management teams. Their securities may trade less frequently and in smaller volumes and may be less liquid and fluctuate more sharply in value than securities of larger companies. In cases where the Fund takes significant positions in smaller companies with limited trading volumes, the liquidation of those position s, particularly in a distressed market, could be prolonged and result in investment losses. In addition, some smaller companies may not be widely followed by the investment community, which can lower the demand for their stocks.

  • Currency Risk -- Securities denominated in different currencies are subject to the risk that, for example, if the value of a foreign currency were to decline against the U.S. dollar, such decline would reduce the U.S. dollar value of any securities held by the Fund denominated in that currency.

  • Sector Risk -- At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business in a broadly related group of industries within an economic sector. Companies in the same economic sector may be similarly affected by economic or market events, making the Fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly.

  • Special Situations Risk -- Securities of companies that are involved in an initial public offering or a major corporate event, such as a business consolidation or restructuring, may present special risk because of the high degree of uncertainty that can be associated with such events. Securities issued in initial public offerings often are issued by companies that are in the early stages of development, have a history of little or no revenues and may operate at a loss following the offering. It is possible that there will be no active trading market for the securities after the offering, and that the market price of the securities may be subject to significant and unpredictable fluctuations. Investing in special situations may have a magnified effect on the performance of funds with small amounts of assets.

Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading

Performance Information

Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock

Because the Fund commenced investment operations on or about August 19, 2011, no year-by-year total return bar chart or average annual total return table is being presented. The year-by year-total return bar chart and the average annual total return table will be provided after the Fund has annual returns for at least one calendar year.

More recent performance information will be available on the Columbia Funds' website at www.columbiamanagement.com or by calling 800.345.6611.

Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800.345.6611
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress More recent performance information will be available on the Columbia Funds' website at www.columbiamanagement.com
(Columbia Acorn European Fund - Classes A, C & I) | (Columbia Acorn European Fund) | Class A Shares
 
Risk/Return: rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases, as a % of offering price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 5.75%
Maximum deferred sales charge (load) imposed on redemptions, as a % of the lower of the original purchase price or net asset value rr_MaximumDeferredSalesChargeOverOther 1.00% [4]
Management fees rr_ManagementFeesOverAssets 1.19%
Distribution and/or service (Rule 12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other expenses rr_OtherExpensesOverAssets 0.45% [5]
Total annual Fund operating expenses rr_ExpensesOverAssets 1.89%
Fee waivers and/or reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.14%) [2]
Total annual Fund operating expenses after the fee waivers and/or reimbursements rr_NetExpensesOverAssets 1.75%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 743
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 1,122
(Columbia Acorn European Fund - Classes A, C & I) | (Columbia Acorn European Fund) | Class C Shares
 
Risk/Return: rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases, as a % of offering price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice  
Maximum deferred sales charge (load) imposed on redemptions, as a % of the lower of the original purchase price or net asset value rr_MaximumDeferredSalesChargeOverOther 1.00% [6]
Management fees rr_ManagementFeesOverAssets 1.19%
Distribution and/or service (Rule 12b-1) fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other expenses rr_OtherExpensesOverAssets 0.47% [5]
Total annual Fund operating expenses rr_ExpensesOverAssets 2.66%
Fee waivers and/or reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.16%) [2]
Total annual Fund operating expenses after the fee waivers and/or reimbursements rr_NetExpensesOverAssets 2.50%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 353
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 811
Expense Example, No Redemption, 1 Year rr_ExpenseExampleNoRedemptionYear01 253
Expense Example, No Redemption, 3 Years rr_ExpenseExampleNoRedemptionYear03 811
(Columbia Acorn European Fund - Classes A, C & I) | (Columbia Acorn European Fund) | Class I Shares
 
Risk/Return: rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases, as a % of offering price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice  
Maximum deferred sales charge (load) imposed on redemptions, as a % of the lower of the original purchase price or net asset value rr_MaximumDeferredSalesChargeOverOther  
Management fees rr_ManagementFeesOverAssets 1.19%
Distribution and/or service (Rule 12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.26% [5]
Total annual Fund operating expenses rr_ExpensesOverAssets 1.45%
Fee waivers and/or reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.14%) [2]
Total annual Fund operating expenses after the fee waivers and/or reimbursements rr_NetExpensesOverAssets 1.31%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 133
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 445
(Columbia Acorn European Fund - Class Z) | (Columbia Acorn European Fund)
 
Risk/Return: rr_RiskReturnAbstract  
Objective [Heading] rr_ObjectiveHeading

Investment Objective

Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

The Fund seeks long-term capital appreciation.

Expense [Heading] rr_ExpenseHeading

Fees and Expenses of the Fund

Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees Caption [Text] rr_ShareholderFeesCaption

Shareholder Fees (fees paid directly from your investment)

Operating Expenses Caption [Text] rr_OperatingExpensesCaption

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading

Portfolio Turnover

Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock

The Fund pays 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.

Expense Example [Heading] rr_ExpenseExampleHeading

Example

Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock

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 Class Z shares of the Fund 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 table above.

The waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire on April 30, 2013 and are only reflected in the 1 year example and the first year of the 3 year example.

Based on the assumptions listed above, your costs would be:

Expense Example Closing [Text Block] rr_ExpenseExampleClosingTextBlock

Remember this is an example only. Your actual costs may be higher or lower.

Strategy [Heading] rr_StrategyHeading

Principal Investment Strategies

Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock

Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowing for investment purposes) in European companies. Under normal circumstances, the Fund invests at least 70% of its total assets in companies in Western European countries (for example, the United Kingdom, Germany, France and Italy), but also may invest up to 30% of its total assets in companies in emerging Central and Eastern European countries (for example, Poland, the Czech Republic, Turkey and Cyprus), including up to 10% of its total assets in companies in Russia and the Ukraine. For purposes of the Fund's policies, the Fund may invest in a company if (i) it is domiciled in, or the principal trading market for its securities is in, a European country, (ii) it derives 50% or more of its economic value from goods produced, sales made or services performed or has at least 50% of its assets in a European country or (iii) it is a holding company that predominantly holds shares in such companies. The Fund may invest in a variety of countries, industries and sectors and does not attempt to invest a specific percentage of its assets in any given country, industry or sector.

Under normal circumstances, the Fund invests a majority of its net assets in the common stock of small- and mid-sized companies with market capitalizations under $5 billion at the time of investment. However, if the Fund's investments in such companies represent less than a majority of its net assets, the Fund may continue to hold and to make additional investments in an existing company in its portfolio even if that company's capitalization has grown to exceed $5 billion. Except as noted above, under normal circumstances, the Fund may invest in other companies with market capitalizations above $5 billion, provided that immediately after that investment a majority of its net assets would be invested in companies with market capitalizations under $5 billion.

Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Adviser), believes that stocks of companies with market capitalizations under $5 billion, which generally are not as well known by financial analysts as larger companies, may offer higher return potential than stocks of larger companies.

The Fund takes advantage of the Adviser's research and stock-picking capabilities to initially invest in a limited number of companies (generally under 100), offering the potential to provide above-average growth over time.

The Adviser typically seeks companies with:

  • A strong business franchise that offers growth potential.

  • Products and services that give the company a competitive advantage.

  • A stock price the Adviser believes is reasonable relative to the assets and earning power of the company.

The Adviser may sell a portfolio holding if the security reaches the Adviser's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Adviser believes other securities are more attractive. The Adviser also may sell a portfolio holding to fund redemptions.

Risk [Heading] rr_RiskHeading

Principal Risks

Risk Narrative [Text Block] rr_RiskNarrativeTextBlock
  • Investment Strategy Risk -- The Adviser uses the principal investment strategies and other investment strategies to seek to achieve the Fund's investment objective. There is no assurance that the Fund will achieve its investment objective. Investment decisions made by the Adviser in using these strategies may not produce the returns expected by the Adviser, may cause the Fund's shares to lose value or may cause the Fund to underperform other funds with similar investment objectives.

  • Market Risk -- Market risk refers to the possibility that the market values of securities that the Fund holds will fall, sometimes rapidly or unpredictably. Security values may fall because of factors affecting individual companies, industries or sectors, or the markets as a whole, reducing the value of an investment in the Fund. Accordingly, an investment in the Fund could lose money over short or even long periods. The market values of the securities the Fund holds also can be affected by changes or perceived changes in U.S. or foreign economies and financial markets, and the liquidity of these securities, among other factors. In general, equity securities tend to have greater price volatility than debt securities.

  • Foreign Securities Risk -- Foreign securities are subject to special risks as compared to securities of U.S. issuers. For example, foreign markets can be extremely volatile. Fluctuations in currency exchange rates may impact the value of foreign securities denominated in foreign currencies or in U.S. dollars, without a change in the intrinsic value of those securities. Foreign securities may be less liquid than domestic securities so that the Fund may, at times, be unable to sell foreign securities at desirable times or prices. Brokerage commissions, custodial fees and other fees are also generally higher for foreign securities. The Fund may have limited or no legal recourse in the event of default with respect to certain foreign securities, including those issued by foreign governments. In addition, foreign governments may impose potentially confiscatory withholding or other taxes, which could reduce the amount of income and capital gains available to distribute to s hareholders. Other risks include possible delays in the settlement of transactions or in the payment of income; generally less publicly available information about companies; the impact of political, social or diplomatic events; possible seizure, expropriation or nationalization of a company or its assets; possible imposition of currency exchange controls; and accounting, auditing and financial reporting standards that may be less comprehensive and stringent than those applicable to domestic companies.

  • Emerging Market Securities Risk -- Securities issued by foreign governments or companies in emerging market countries, like those in Eastern Europe, the Middle East, Asia, Latin America or Africa, are more likely to have greater exposure to the risks of investing in foreign securities that are described in Foreign Securities Risk. In addition, emerging market countries are more likely to experience instability resulting, for example, from rapid social, political and economic development. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity than more developed countries. Emerging market securities tend to be more volatile than securities in more developed markets. Many emerging market countries are heavily dependent on international trade, which makes them more sensitive to world commodity prices and economic downturns in other countries. Some emerging market countries have a higher risk of currency de valuations, and some of these countries may experience periods of high inflation or rapid changes in inflation rates.

  • Smaller Company Securities Risk -- Securities of small- or mid-capitalization companies ("smaller companies") can, in certain circumstances, have a higher potential for gains than securities of large-capitalization companies but may also have more risk. For example, smaller companies may be more vulnerable to market downturns and adverse business or economic events than larger, more established companies because they may have more limited financial resources and business operations. These companies are also more likely than large-capitalization companies ("larger companies") to have more limited product lines and operating histories and to depend on smaller management teams. Their securities may trade less frequently and in smaller volumes and may be less liquid and fluctuate more sharply in value than securities of larger companies. In cases where the Fund takes significant positions in smaller companies with limited trading volumes, the liquidation of those position s, particularly in a distressed market, could be prolonged and result in investment losses. In addition, some smaller companies may not be widely followed by the investment community, which can lower the demand for their stocks.

  • Currency Risk -- Securities denominated in different currencies are subject to the risk that, for example, if the value of a foreign currency were to decline against the U.S. dollar, such decline would reduce the U.S. dollar value of any securities held by the Fund denominated in that currency.

  • Sector Risk -- At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business in a broadly related group of industries within an economic sector. Companies in the same economic sector may be similarly affected by economic or market events, making the Fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly.

  • Special Situations Risk -- Securities of companies that are involved in an initial public offering or a major corporate event, such as a business consolidation or restructuring, may present special risk because of the high degree of uncertainty that can be associated with such events. Securities issued in initial public offerings often are issued by companies that are in the early stages of development, have a history of little or no revenues and may operate at a loss following the offering. It is possible that there will be no active trading market for the securities after the offering, and that the market price of the securities may be subject to significant and unpredictable fluctuations. Investing in special situations may have a magnified effect on the performance of funds with small amounts of assets.

Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading

Performance Information

Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock

Because the Fund commenced investment operations on or about August 19, 2011, no year-by-year total return bar chart or average annual total return table is being presented. The year-by year-total return bar chart and the average annual total return table will be provided after the Fund has annual returns for at least one calendar year.

More recent performance information will be available on the Columbia Funds' website at www.columbiamanagement.com or by calling 800.345.6611.

Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800.345.6611
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress More recent performance information will be available on the Columbia Funds' website at www.columbiamanagement.com
(Columbia Acorn European Fund - Class Z) | (Columbia Acorn European Fund) | Class Z Shares
 
Risk/Return: rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases, as a % of offering price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) imposed on redemptions, as a % of the lower of the original purchase price or net asset value rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 1.19%
Distribution and/or service (Rule 12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.32% [5]
Total annual Fund operating expenses rr_ExpensesOverAssets 1.51%
Fee waivers and/or reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.01%) [1]
Total annual Fund operating expenses after the fee waivers and/or reimbursements rr_NetExpensesOverAssets 1.50%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 153
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 476
(Columbia Acorn Emerging Markets Fund Classes A, C & I) | (Columbia Acorn Emerging Markets Fund)
 
Risk/Return: rr_RiskReturnAbstract  
Objective [Heading] rr_ObjectiveHeading

Investment Objective

Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

The Fund seeks long-term capital appreciation.

Expense [Heading] rr_ExpenseHeading

Fees and Expenses of the Fund

Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Class A shares of eligible Columbia funds within the Columbia family of mutual funds. More information about these and other discounts is available from your financial advisor, in the Choosing a Share Class section beginning on page 17 of this prospectus and in Appendix D to the Statement of Additional Information under Sales Charge Waivers beginning on page D-1.

Shareholder Fees Caption [Text] rr_ShareholderFeesCaption

Shareholder Fees (fees paid directly from your investment)

Operating Expenses Caption [Text] rr_OperatingExpensesCaption

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading

Portfolio Turnover

Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock

The Fund pays 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.

Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Class A shares of eligible Columbia funds within the Columbia family of mutual funds.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount 50,000
Expense Example [Heading] rr_ExpenseExampleHeading

Example

Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock

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 Class A, Class C or Class I shares of the Fund 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 table above.

The waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire on April 30, 2013 and are only reflected in the 1 year example and the first year of the 3 year example.

Based on the assumptions listed above, your costs would be:

Expense Example Closing [Text Block] rr_ExpenseExampleClosingTextBlock

Remember this is an example only. Your actual costs may be higher or lower.

Strategy [Heading] rr_StrategyHeading

Principal Investment Strategies

Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock

Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowing for investment purposes) in companies located in emerging market countries, including frontier market countries. Emerging market countries are those countries whose economies are developing or emerging from underdevelopment (for example, China, India, Poland and Turkey). Frontier market countries generally have smaller economies and even less developed capital markets than traditional emerging market countries (for example, Vietnam, Colombia, Nigeria and Kazakhstan). For purposes of the Fund's policies, the Fund may invest in a company if (i) it is domiciled in, or the principal trading market for its securities is in, an emerging market country, (ii) it derives 50% or more of its economic value from goods produced, sales made or services performed or has at least 50% of its assets in an emerging market country or countries or (iii) it is a holding company that predominantly holds shares in such companies. The Fund may invest in a variety of countries, industries and sectors and does not attempt to invest a specific percentage of its assets in any given country, industry or sector.

Under normal circumstances, the Fund invests a majority of its net assets in the common stock of small- and mid-sized companies with market capitalizations under $5 billion at the time of investment. However, if the Fund's investments in such companies represent less than a majority of its net assets, the Fund may continue to hold and to make additional investments in an existing company in its portfolio even if that company's capitalization has grown to exceed $5 billion. Except as noted above, under normal circumstances, the Fund may invest in other companies with market capitalizations above $5 billion, provided that immediately after that investment a majority of its net assets would be invested in companies with market capitalizations under $5 billion. Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Adviser), believes that stocks of companies with market capitalizations under $5 billion, wh ich generally are not as well known by financial analysts as larger companies, may offer higher return potential than stocks of larger companies.

The Fund takes advantage of the Adviser's research and stock-picking capabilities to initially invest in a limited number of companies (generally under 100), offering the potential to provide above-average growth over time.

Generally, the Adviser will determine which countries are emerging market countries by reference to the countries included in the S&P Emerging Markets Broad Market Index (BMI), and will determine which countries are frontier market countries by reference to the countries included in the S&P Frontier BMI. In addition, the Fund may invest in certain developing market countries that are not included in either the S&P Emerging Markets BMI or the S&P Frontier BMI (for example, Iceland and Senegal), but which are included on another independent third-party listing of emerging market and/or frontier market countries. The Adviser will make all determinations as to whether a company is an emerging market company at the time of investment. The countries that comprise emerging market countries, including frontier market countries, may change from time to time.

The Adviser typically seeks companies with:

  • A strong business franchise that offers growth potential.

  • Products and services that give the company a competitive advantage.

  • A stock price the Adviser believes is reasonable relative to the assets and earning power of the company.

The Adviser may sell a portfolio holding if the security reaches the Adviser's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Adviser believes other securities are more attractive. The Adviser also may sell a portfolio holding to fund redemptions.

Risk [Heading] rr_RiskHeading

Principal Risks

Risk Narrative [Text Block] rr_RiskNarrativeTextBlock
  • Investment Strategy Risk -- The Adviser uses the principal investment strategies and other investment strategies to seek to achieve the Fund's investment objective. There is no assurance that the Fund will achieve its investment objective. Investment decisions made by the Adviser in using these strategies may not produce the returns expected by the Adviser, may cause the Fund's shares to lose value or may cause the Fund to underperform other funds with similar investment objectives.

  • Market Risk -- Market risk refers to the possibility that the market values of securities that the Fund holds will fall, sometimes rapidly or unpredictably. Security values may fall because of factors affecting individual companies, industries or sectors, or the markets as a whole, reducing the value of an investment in the Fund. Accordingly, an investment in the Fund could lose money over short or even long periods. The market values of the securities the Fund holds also can be affected by changes or perceived changes in U.S. or foreign economies and financial markets, and the liquidity of these securities, among other factors. In general, equity securities tend to have greater price volatility than debt securities.

  • Foreign Securities Risk -- Foreign securities are subject to special risks as compared to securities of U.S. issuers. For example, foreign markets can be extremely volatile. Fluctuations in currency exchange rates may impact the value of foreign securities denominated in foreign currencies or in U.S. dollars, without a change in the intrinsic value of those securities. Foreign securities may be less liquid than domestic securities so that the Fund may, at times, be unable to sell foreign securities at desirable times or prices. Brokerage commissions, custodial fees and other fees are also generally higher for foreign securities. The Fund may have limited or no legal recourse in the event of default with respect to certain foreign securities, including those issued by foreign governments. In addition, foreign governments may impose potentially confiscatory withholding or other taxes, which could reduce the amount of income and capital gains available to distribute to s hareholders. Other risks include possible delays in the settlement of transactions or in the payment of income; generally less publicly available information about companies; the impact of political, social or diplomatic events; possible seizure, expropriation or nationalization of a company or its assets; possible imposition of currency exchange controls; and accounting, auditing and financial reporting standards that may be less comprehensive and stringent than those applicable to domestic companies.

  • Emerging Market Securities Risk -- Securities issued by foreign governments or companies in emerging market countries, like those in Eastern Europe, the Middle East, Asia, Latin America or Africa, are more likely to have greater exposure to the risks of investing in foreign securities that are described in Foreign Securities Risk. In addition, emerging market countries are more likely to experience instability resulting, for example, from rapid social, political and economic development. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity than more developed countries. Emerging market securities tend to be more volatile than securities in more developed markets. Many emerging market countries are heavily dependent on international trade, which makes them more sensitive to world commodity prices and economic downturns in other countries. Some emerging market countries have a higher risk of currency de valuations, and some of these countries may experience periods of high inflation or rapid changes in inflation rates.

  • Frontier Market Risk -- Frontier market countries generally have smaller economies and even less developed capital markets than traditional emerging market countries and, as a result, the risks of investing in emerging market countries are magnified in frontier market countries. The magnification of risks are the result of: potential for extreme price volatility and illiquidity in frontier market countries; government ownership or control of parts of private sector and of certain companies; trade barriers, exchange controls, managed adjustments in relative currency values and other protectionist measures imposed or negotiated by the countries with which frontier market countries trade; and the relatively new and unsettled securities laws in many frontier market countries.

  • Smaller Company Securities Risk -- Securities of small- or mid-capitalization companies ("smaller companies") can, in certain circumstances, have a higher potential for gains than securities of large-capitalization companies but may also have more risk. For example, smaller companies may be more vulnerable to market downturns and adverse business or economic events than larger, more established companies because they may have more limited financial resources and business operations. These companies are also more likely than large-capitalization companies ("larger companies") to have more limited product lines and operating histories and to depend on smaller management teams. Their securities may trade less frequently and in smaller volumes and may be less liquid and fluctuate more sharply in value than securities of larger companies. In cases where the Fund takes significant positions in smaller companies with limited trading volumes, the liquidation of those position s, particularly in a distressed market, could be prolonged and result in investment losses. In addition, some smaller companies may not be widely followed by the investment community, which can lower the demand for their stocks.

  • Currency Risk -- Securities denominated in different currencies are subject to the risk that, for example, if the value of a foreign currency were to decline against the U.S. dollar, such decline would reduce the U.S. dollar value of any securities held by the Fund denominated in that currency.

  • Sector Risk -- At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business in a broadly related group of industries within an economic sector. Companies in the same economic sector may be similarly affected by economic or market events, making the Fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly.

  • Special Situations Risk -- Securities of companies that are involved in an initial public offering or a major corporate event, such as a business consolidation or restructuring, may present special risk because of the high degree of uncertainty that can be associated with such events. Securities issued in initial public offerings often are issued by companies that are in the early stages of development, have a history of little or no revenues and may operate at a loss following the offering. It is possible that there will be no active trading market for the securities after the offering, and that the market price of the securities may be subject to significant and unpredictable fluctuations. Investing in special situations may have a magnified effect on the performance of funds with small amounts of assets.

Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading

Performance Information

Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock

Because the Fund commenced investment operations on or about August 19, 2011, no year-by-year total return bar chart or average annual total return table is being presented. The year-by year-total return bar chart and the average annual total return table will be provided after the Fund has annual returns for at least one calendar year.

More recent performance information will be available on the Columbia Funds' website at www.columbiamanagement.com or by calling 800.345.6611.

Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800.345.6611
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress More recent performance information will be available on the Columbia Funds' website at www.columbiamanagement.com
(Columbia Acorn Emerging Markets Fund Classes A, C & I) | (Columbia Acorn Emerging Markets Fund) | Class A Shares
 
Risk/Return: rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases, as a % of offering price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 5.75%
Maximum deferred sales charge (load) imposed on redemptions, as a % of the lower of the original purchase price or net asset value rr_MaximumDeferredSalesChargeOverOther 1.00% [4]
Management fees rr_ManagementFeesOverAssets 1.25%
Distribution and/or service (Rule 12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other expenses rr_OtherExpensesOverAssets 0.46% [5]
Total annual Fund operating expenses rr_ExpensesOverAssets 1.96%
Fee waivers and/or reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.11%) [3]
Total annual Fund operating expenses after the fee waivers and/or reimbursements rr_NetExpensesOverAssets 1.85%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 752
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 1,145
(Columbia Acorn Emerging Markets Fund Classes A, C & I) | (Columbia Acorn Emerging Markets Fund) | Class C Shares
 
Risk/Return: rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases, as a % of offering price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice  
Maximum deferred sales charge (load) imposed on redemptions, as a % of the lower of the original purchase price or net asset value rr_MaximumDeferredSalesChargeOverOther 1.00% [6]
Management fees rr_ManagementFeesOverAssets 1.25%
Distribution and/or service (Rule 12b-1) fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other expenses rr_OtherExpensesOverAssets 0.48% [5]
Total annual Fund operating expenses rr_ExpensesOverAssets 2.73%
Fee waivers and/or reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.13%) [3]
Total annual Fund operating expenses after the fee waivers and/or reimbursements rr_NetExpensesOverAssets 2.60%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 363
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 835
Expense Example, No Redemption, 1 Year rr_ExpenseExampleNoRedemptionYear01 263
Expense Example, No Redemption, 3 Years rr_ExpenseExampleNoRedemptionYear03 835
(Columbia Acorn Emerging Markets Fund Classes A, C & I) | (Columbia Acorn Emerging Markets Fund) | Class I Shares
 
Risk/Return: rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases, as a % of offering price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice  
Maximum deferred sales charge (load) imposed on redemptions, as a % of the lower of the original purchase price or net asset value rr_MaximumDeferredSalesChargeOverOther  
Management fees rr_ManagementFeesOverAssets 1.25%
Distribution and/or service (Rule 12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.27% [5]
Total annual Fund operating expenses rr_ExpensesOverAssets 1.52%
Fee waivers and/or reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.11%) [3]
Total annual Fund operating expenses after the fee waivers and/or reimbursements rr_NetExpensesOverAssets 1.41%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 144
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 470
(Columbia Acorn Emerging Markets Fund - Class Z) | (Columbia Acorn Emerging Markets Fund)
 
Risk/Return: rr_RiskReturnAbstract  
Objective [Heading] rr_ObjectiveHeading

Investment Objective

Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

The Fund seeks long-term capital appreciation.

Expense [Heading] rr_ExpenseHeading

Fees and Expenses of the Fund

Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees Caption [Text] rr_ShareholderFeesCaption

Shareholder Fees (fees paid directly from your investment)

Operating Expenses Caption [Text] rr_OperatingExpensesCaption

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading

Portfolio Turnover

Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock

The Fund pays 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.

Expense Example [Heading] rr_ExpenseExampleHeading

Example

Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock

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 Class Z shares of the Fund 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 table above.

Based on the assumptions listed above, your costs would be:

Expense Example Closing [Text Block] rr_ExpenseExampleClosingTextBlock

Remember this is an example only. Your actual costs may be higher or lower.

Strategy [Heading] rr_StrategyHeading

Principal Investment Strategies

Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock

Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowing for investment purposes) in companies located in emerging market countries, including frontier market countries. Emerging market countries are those countries whose economies are developing or emerging from underdevelopment (for example, China, India, Poland and Turkey). Frontier market countries generally have smaller economies and even less developed capital markets than traditional emerging market countries (for example, Vietnam, Colombia, Nigeria and Kazakhstan). For purposes of the Fund's policies, the Fund may invest in a company if (i) it is domiciled in, or the principal trading market for its securities is in, an emerging market country, (ii) it derives 50% or more of its economic value from goods produced, sales made or services performed or has at least 50% of its assets in an emerging market country or countries or (iii) it is a holding company that predominantly holds shares in such companies. The Fund may invest in a variety of countries, industries and sectors and does not attempt to invest a specific percentage of its assets in any given country, industry or sector.

Under normal circumstances, the Fund invests a majority of its net assets in the common stock of small- and mid-sized companies with market capitalizations under $5 billion at the time of investment. However, if the Fund's investments in such companies represent less than a majority of its net assets, the Fund may continue to hold and to make additional investments in an existing company in its portfolio even if that company's capitalization has grown to exceed $5 billion. Except as noted above, under normal circumstances, the Fund may invest in other companies with market capitalizations above $5 billion, provided that immediately after that investment a majority of its net assets would be invested in companies with market capitalizations under $5 billion. Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Adviser), believes that stocks of companies with market capitalizations under $5 billion, wh ich generally are not as well known by financial analysts as larger companies, may offer higher return potential than stocks of larger companies.

The Fund takes advantage of the Adviser's research and stock-picking capabilities to initially invest in a limited number of companies (generally under 100), offering the potential to provide above-average growth over time.

Generally, the Adviser will determine which countries are emerging market countries by reference to the countries included in the S&P Emerging Markets Broad Market Index (BMI), and will determine which countries are frontier market countries by reference to the countries included in the S&P Frontier BMI. In addition, the Fund may invest in certain developing market countries that are not included in either the S&P Emerging Markets BMI or the S&P Frontier BMI (for example, Iceland and Senegal), but which are included on another independent third-party listing of emerging market and/or frontier market countries. The Adviser will make all determinations as to whether a company is an emerging market company at the time of investment. The countries that comprise emerging market countries, including frontier market countries, may change from time to time.

The Adviser typically seeks companies with:

  • A strong business franchise that offers growth potential.

  • Products and services that give the company a competitive advantage.

  • A stock price the Adviser believes is reasonable relative to the assets and earning power of the company.

The Adviser may sell a portfolio holding if the security reaches the Adviser's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Adviser believes other securities are more attractive. The Adviser also may sell a portfolio holding to fund redemptions.

Risk [Heading] rr_RiskHeading

Principal Risks

Risk Narrative [Text Block] rr_RiskNarrativeTextBlock
  • Investment Strategy Risk -- The Adviser uses the principal investment strategies and other investment strategies to seek to achieve the Fund's investment objective. There is no assurance that the Fund will achieve its investment objective. Investment decisions made by the Adviser in using these strategies may not produce the returns expected by the Adviser, may cause the Fund's shares to lose value or may cause the Fund to underperform other funds with similar investment objectives.

  • Market Risk -- Market risk refers to the possibility that the market values of securities that the Fund holds will fall, sometimes rapidly or unpredictably. Security values may fall because of factors affecting individual companies, industries or sectors, or the markets as a whole, reducing the value of an investment in the Fund. Accordingly, an investment in the Fund could lose money over short or even long periods. The market values of the securities the Fund holds also can be affected by changes or perceived changes in U.S. or foreign economies and financial markets, and the liquidity of these securities, among other factors. In general, equity securities tend to have greater price volatility than debt securities.

  • Foreign Securities Risk -- Foreign securities are subject to special risks as compared to securities of U.S. issuers. For example, foreign markets can be extremely volatile. Fluctuations in currency exchange rates may impact the value of foreign securities denominated in foreign currencies or in U.S. dollars, without a change in the intrinsic value of those securities. Foreign securities may be less liquid than domestic securities so that the Fund may, at times, be unable to sell foreign securities at desirable times or prices. Brokerage commissions, custodial fees and other fees are also generally higher for foreign securities. The Fund may have limited or no legal recourse in the event of default with respect to certain foreign securities, including those issued by foreign governments. In addition, foreign governments may impose potentially confiscatory withholding or other taxes, which could reduce the amount of income and capital gains available to distribute to s hareholders. Other risks include possible delays in the settlement of transactions or in the payment of income; generally less publicly available information about companies; the impact of political, social or diplomatic events; possible seizure, expropriation or nationalization of a company or its assets; possible imposition of currency exchange controls; and accounting, auditing and financial reporting standards that may be less comprehensive and stringent than those applicable to domestic companies.

  • Emerging Market Securities Risk -- Securities issued by foreign governments or companies in emerging market countries, like those in Eastern Europe, the Middle East, Asia, Latin America or Africa, are more likely to have greater exposure to the risks of investing in foreign securities that are described in Foreign Securities Risk. In addition, emerging market countries are more likely to experience instability resulting, for example, from rapid social, political and economic development. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity than more developed countries. Emerging market securities tend to be more volatile than securities in more developed markets. Many emerging market countries are heavily dependent on international trade, which makes them more sensitive to world commodity prices and economic downturns in other countries. Some emerging market countries have a higher risk of currency de valuations, and some of these countries may experience periods of high inflation or rapid changes in inflation rates.

  • Frontier Market Risk -- Frontier market countries generally have smaller economies and even less developed capital markets than traditional emerging market countries and, as a result, the risks of investing in emerging market countries are magnified in frontier market countries. The magnification of risks are the result of: potential for extreme price volatility and illiquidity in frontier market countries; government ownership or control of parts of private sector and of certain companies; trade barriers, exchange controls, managed adjustments in relative currency values and other protectionist measures imposed or negotiated by the countries with which frontier market countries trade; and the relatively new and unsettled securities laws in many frontier market countries.

  • Smaller Company Securities Risk -- Securities of small- or mid-capitalization companies ("smaller companies") can, in certain circumstances, have a higher potential for gains than securities of large-capitalization companies but may also have more risk. For example, smaller companies may be more vulnerable to market downturns and adverse business or economic events than larger, more established companies because they may have more limited financial resources and business operations. These companies are also more likely than large-capitalization companies ("larger companies") to have more limited product lines and operating histories and to depend on smaller management teams. Their securities may trade less frequently and in smaller volumes and may be less liquid and fluctuate more sharply in value than securities of larger companies. In cases where the Fund takes significant positions in smaller companies with limited trading volumes, the liquidation of those position s, particularly in a distressed market, could be prolonged and result in investment losses. In addition, some smaller companies may not be widely followed by the investment community, which can lower the demand for their stocks.

  • Currency Risk -- Securities denominated in different currencies are subject to the risk that, for example, if the value of a foreign currency were to decline against the U.S. dollar, such decline would reduce the U.S. dollar value of any securities held by the Fund denominated in that currency.

  • Sector Risk -- At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business in a broadly related group of industries within an economic sector. Companies in the same economic sector may be similarly affected by economic or market events, making the Fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly.

  • Special Situations Risk -- Securities of companies that are involved in an initial public offering or a major corporate event, such as a business consolidation or restructuring, may present special risk because of the high degree of uncertainty that can be associated with such events. Securities issued in initial public offerings often are issued by companies that are in the early stages of development, have a history of little or no revenues and may operate at a loss following the offering. It is possible that there will be no active trading market for the securities after the offering, and that the market price of the securities may be subject to significant and unpredictable fluctuations. Investing in special situations may have a magnified effect on the performance of funds with small amounts of assets.

Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading

Performance Information

Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock

Because the Fund commenced investment operations on or about August 19, 2011, no year-by-year total return bar chart or average annual total return table is being presented. The year-by year-total return bar chart and the average annual total return table will be provided after the Fund has annual returns for at least one calendar year.

More recent performance information will be available on the Columbia Funds' website at www.columbiamanagement.com or by calling 800.345.6611.

Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800.345.6611
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress More recent performance information will be available on the Columbia Funds' website at www.columbiamanagement.com
(Columbia Acorn Emerging Markets Fund - Class Z) | (Columbia Acorn Emerging Markets Fund) | Class Z Shares
 
Risk/Return: rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases, as a % of offering price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) imposed on redemptions, as a % of the lower of the original purchase price or net asset value rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 1.25%
Distribution and/or service (Rule 12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.33% [5]
Total annual Fund operating expenses rr_ExpensesOverAssets 1.58%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 161
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 499
[1] Columbia Wanger Asset Management, LLC (the Adviser) has contractually agreed to waive fees and reimburse certain expenses of the Fund so that the ordinary operating expenses (excluding interest and fees on borrowings and expenses associated with the Fund's investment in other investment companies, if any) do not exceed the annual rate of 1.50% of the Fund's average daily net assets attributable to Class Z, through April 30, 2013. The Adviser may recoup any fees waived and/or expenses reimbursed with respect to any share class of the Fund for a one-year period following the date of such fee waiver and/or reimbursement if such recovery does not cause the Fund's ordinary operating expenses (excluding interest and fees on borrowings and expenses associated with the Fund's investment in other investment companies, if any) to exceed the annual rates set forth in this prospectus, or to exceed such annual rate as may be in place at the time of the recoupment, whichever is less. This expense arrangement m ay only be modified or amended with approval from all parties to such arrangements, including the Fund and the Adviser.
[2] Columbia Wanger Asset Management, LLC (the Adviser) has contractually agreed to waive fees and reimburse certain expenses of the Fund so that the ordinary operating expenses (excluding interest and fees on borrowings and expenses associated with the Fund's investment in other investment companies, if any) do not exceed the annual rates of 1.75%, 2.50% and 1.31% of the Fund's average daily net assets attributable to Class A, Class C and Class I shares, respectively, through April 30, 2013. The Adviser may recoup any fees waived and/or expenses reimbursed with respect to any share class of the Fund for a one-year period following the date of such fee waiver and/or reimbursement if such recovery does not cause the Fund's ordinary operating expenses (excluding interest and fees on borrowings and expenses associated with the Fund's investment in other investment companies, if any) to exceed the annual rates set forth in this prospectus, or to exceed such annual rate as may be in place at the time of t he recoupment, whichever is less. This expense arrangement may only be modified or amended with approval from all parties to such arrangements, including the Fund and the Adviser.
[3] Columbia Wanger Asset Management, LLC (the Adviser) has contractually agreed to waive fees and reimburse certain expenses of the Fund so that the ordinary operating expenses (excluding interest and fees on borrowings and expenses associated with the Fund's investment in other investment companies, if any) do not exceed the annual rates of 1.85%, 2.60% and 1.41% of the Fund's average daily net assets attributable to Class A, Class C and Class I shares, respectively, through April 30, 2013. The Adviser may recoup any fees waived and/or expenses reimbursed with respect to any share class of the Fund for a one-year period following the date of such fee waiver and/or reimbursement if such recovery does not cause the Fund's ordinary operating expenses (excluding interest and fees on borrowings and expenses associated with the Fund's investment in other investment companies, if any) to exceed the annual rates set forth in this prospectus, or to exceed such annual rate as may be in place at the time of t he recoupment, whichever is less. This expense arrangement may only be modified or amended with approval from all parties to such arrangements, including the Fund and the Adviser.
[4] Contingent deferred sales charges (CDSC) on certain investments of between $1 million and $50 million redeemed within 18 months of purchase, charged as follows: 1.00% CDSC if redeemed within 12 months of purchase, and 0.50% CDSC if redeemed more than 12, but less than 18, months of purchase, with certain limited exceptions.
[5] Other expenses are based on estimated amounts for the current fiscal year.
[6] This charge applies to investors who buy Class C shares and redeem them within one year of purchase, with certain limited exceptions.
XML 18 R2.htm IDEA: XBRL DOCUMENT  v2.3.0.11
(Columbia Acorn European Fund - Classes A, C & I) | (Columbia Acorn European Fund)

Investment Objective

The Fund seeks long-term capital appreciation.

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Class A shares of eligible Columbia funds within the Columbia family of mutual funds. More information about these and other discounts is available from your financial advisor, in the Choosing a Share Class section beginning on page 17 of this prospectus and in Appendix D to the Statement of Additional Information under Sales Charge Waivers beginning on page D-1.

Shareholder Fees (fees paid directly from your investment)

Shareholder Fees (Columbia Acorn European Fund - Classes A, C & I) (Columbia Acorn European Fund)
Class A Shares
Class C Shares
Class I Shares
Maximum sales charge (load) imposed on purchases, as a % of offering price 5.75%    
Maximum deferred sales charge (load) imposed on redemptions, as a % of the lower of the original purchase price or net asset value 1.00% [1] 1.00% [2]  
[1] Contingent deferred sales charges (CDSC) on certain investments of between $1 million and $50 million redeemed within 18 months of purchase, charged as follows: 1.00% CDSC if redeemed within 12 months of purchase, and 0.50% CDSC if redeemed more than 12, but less than 18, months of purchase, with certain limited exceptions.
[2] This charge applies to investors who buy Class C shares and redeem them within one year of purchase, with certain limited exceptions.

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Annual Fund Operating Expenses (Columbia Acorn European Fund - Classes A, C & I) (Columbia Acorn European Fund)
Class A Shares
Class C Shares
Class I Shares
Management fees 1.19% 1.19% 1.19%
Distribution and/or service (Rule 12b-1) fees 0.25% 1.00% none
Other expenses [1] 0.45% 0.47% 0.26%
Total annual Fund operating expenses 1.89% 2.66% 1.45%
Fee waivers and/or reimbursements [2] (0.14%) (0.16%) (0.14%)
Total annual Fund operating expenses after the fee waivers and/or reimbursements 1.75% 2.50% 1.31%
[1] Other expenses are based on estimated amounts for the current fiscal year.
[2] Columbia Wanger Asset Management, LLC (the Adviser) has contractually agreed to waive fees and reimburse certain expenses of the Fund so that the ordinary operating expenses (excluding interest and fees on borrowings and expenses associated with the Fund's investment in other investment companies, if any) do not exceed the annual rates of 1.75%, 2.50% and 1.31% of the Fund's average daily net assets attributable to Class A, Class C and Class I shares, respectively, through April 30, 2013. The Adviser may recoup any fees waived and/or expenses reimbursed with respect to any share class of the Fund for a one-year period following the date of such fee waiver and/or reimbursement if such recovery does not cause the Fund's ordinary operating expenses (excluding interest and fees on borrowings and expenses associated with the Fund's investment in other investment companies, if any) to exceed the annual rates set forth in this prospectus, or to exceed such annual rate as may be in place at the time of t he recoupment, whichever is less. This expense arrangement may only be modified or amended with approval from all parties to such arrangements, including the Fund and the Adviser.

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 Class A, Class C or Class I shares of the Fund 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 table above.

The waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire on April 30, 2013 and are only reflected in the 1 year example and the first year of the 3 year example.

Based on the assumptions listed above, your costs would be:

Expense Example (Columbia Acorn European Fund) (Columbia Acorn European Fund - Classes A, C & I) (USD $)
1 Year
3 Years
Class A Shares
743 1,122
Class C Shares
353 811
Class I Shares
133 445
Expense Example, No Redemption (Columbia Acorn European Fund) (USD $)
1 Year
3 Years
Class C Shares (Columbia Acorn European Fund - Classes A, C & I)
253 811

Remember this is an example only. Your actual costs may be higher or lower.

Portfolio Turnover

The Fund pays 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.

Principal Investment Strategies

Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowing for investment purposes) in European companies. Under normal circumstances, the Fund invests at least 70% of its total assets in companies in Western European countries (for example, the United Kingdom, Germany, France and Italy), but also may invest up to 30% of its total assets in companies in emerging Central and Eastern European countries (for example, Poland, the Czech Republic, Turkey and Cyprus), including up to 10% of its total assets in companies in Russia and the Ukraine. For purposes of the Fund's policies, the Fund may invest in a company if (i) it is domiciled in, or the principal trading market for its securities is in, a European country, (ii) it derives 50% or more of its economic value from goods produced, sales made or services performed or has at least 50% of its assets in a European country or (iii) it is a holding company that predominantly holds shares in such companies. The Fund may invest in a variety of countries, industries and sectors and does not attempt to invest a specific percentage of its assets in any given country, industry or sector.

Under normal circumstances, the Fund invests a majority of its net assets in the common stock of small- and mid-sized companies with market capitalizations under $5 billion at the time of investment. However, if the Fund's investments in such companies represent less than a majority of its net assets, the Fund may continue to hold and to make additional investments in an existing company in its portfolio even if that company's capitalization has grown to exceed $5 billion. Except as noted above, under normal circumstances, the Fund may invest in other companies with market capitalizations above $5 billion, provided that immediately after that investment a majority of its net assets would be invested in companies with market capitalizations under $5 billion.

Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Adviser), believes that stocks of companies with market capitalizations under $5 billion, which generally are not as well known by financial analysts as larger companies, may offer higher return potential than stocks of larger companies.

The Fund takes advantage of the Adviser's research and stock-picking capabilities to initially invest in a limited number of companies (generally under 100), offering the potential to provide above-average growth over time.

The Adviser typically seeks companies with:

  • A strong business franchise that offers growth potential.

  • Products and services that give the company a competitive advantage.

  • A stock price the Adviser believes is reasonable relative to the assets and earning power of the company.

The Adviser may sell a portfolio holding if the security reaches the Adviser's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Adviser believes other securities are more attractive. The Adviser also may sell a portfolio holding to fund redemptions.

Principal Risks

  • Investment Strategy Risk -- The Adviser uses the principal investment strategies and other investment strategies to seek to achieve the Fund's investment objective. There is no assurance that the Fund will achieve its investment objective. Investment decisions made by the Adviser in using these strategies may not produce the returns expected by the Adviser, may cause the Fund's shares to lose value or may cause the Fund to underperform other funds with similar investment objectives.

  • Market Risk -- Market risk refers to the possibility that the market values of securities that the Fund holds will fall, sometimes rapidly or unpredictably. Security values may fall because of factors affecting individual companies, industries or sectors, or the markets as a whole, reducing the value of an investment in the Fund. Accordingly, an investment in the Fund could lose money over short or even long periods. The market values of the securities the Fund holds also can be affected by changes or perceived changes in U.S. or foreign economies and financial markets, and the liquidity of these securities, among other factors. In general, equity securities tend to have greater price volatility than debt securities.

  • Foreign Securities Risk -- Foreign securities are subject to special risks as compared to securities of U.S. issuers. For example, foreign markets can be extremely volatile. Fluctuations in currency exchange rates may impact the value of foreign securities denominated in foreign currencies or in U.S. dollars, without a change in the intrinsic value of those securities. Foreign securities may be less liquid than domestic securities so that the Fund may, at times, be unable to sell foreign securities at desirable times or prices. Brokerage commissions, custodial fees and other fees are also generally higher for foreign securities. The Fund may have limited or no legal recourse in the event of default with respect to certain foreign securities, including those issued by foreign governments. In addition, foreign governments may impose potentially confiscatory withholding or other taxes, which could reduce the amount of income and capital gains available to distribute to s hareholders. Other risks include possible delays in the settlement of transactions or in the payment of income; generally less publicly available information about companies; the impact of political, social or diplomatic events; possible seizure, expropriation or nationalization of a company or its assets; possible imposition of currency exchange controls; and accounting, auditing and financial reporting standards that may be less comprehensive and stringent than those applicable to domestic companies.

  • Emerging Market Securities Risk -- Securities issued by foreign governments or companies in emerging market countries, like those in Eastern Europe, the Middle East, Asia, Latin America or Africa, are more likely to have greater exposure to the risks of investing in foreign securities that are described in Foreign Securities Risk. In addition, emerging market countries are more likely to experience instability resulting, for example, from rapid social, political and economic development. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity than more developed countries. Emerging market securities tend to be more volatile than securities in more developed markets. Many emerging market countries are heavily dependent on international trade, which makes them more sensitive to world commodity prices and economic downturns in other countries. Some emerging market countries have a higher risk of currency de valuations, and some of these countries may experience periods of high inflation or rapid changes in inflation rates.

  • Smaller Company Securities Risk -- Securities of small- or mid-capitalization companies ("smaller companies") can, in certain circumstances, have a higher potential for gains than securities of large-capitalization companies but may also have more risk. For example, smaller companies may be more vulnerable to market downturns and adverse business or economic events than larger, more established companies because they may have more limited financial resources and business operations. These companies are also more likely than large-capitalization companies ("larger companies") to have more limited product lines and operating histories and to depend on smaller management teams. Their securities may trade less frequently and in smaller volumes and may be less liquid and fluctuate more sharply in value than securities of larger companies. In cases where the Fund takes significant positions in smaller companies with limited trading volumes, the liquidation of those position s, particularly in a distressed market, could be prolonged and result in investment losses. In addition, some smaller companies may not be widely followed by the investment community, which can lower the demand for their stocks.

  • Currency Risk -- Securities denominated in different currencies are subject to the risk that, for example, if the value of a foreign currency were to decline against the U.S. dollar, such decline would reduce the U.S. dollar value of any securities held by the Fund denominated in that currency.

  • Sector Risk -- At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business in a broadly related group of industries within an economic sector. Companies in the same economic sector may be similarly affected by economic or market events, making the Fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly.

  • Special Situations Risk -- Securities of companies that are involved in an initial public offering or a major corporate event, such as a business consolidation or restructuring, may present special risk because of the high degree of uncertainty that can be associated with such events. Securities issued in initial public offerings often are issued by companies that are in the early stages of development, have a history of little or no revenues and may operate at a loss following the offering. It is possible that there will be no active trading market for the securities after the offering, and that the market price of the securities may be subject to significant and unpredictable fluctuations. Investing in special situations may have a magnified effect on the performance of funds with small amounts of assets.

Performance Information

Because the Fund commenced investment operations on or about August 19, 2011, no year-by-year total return bar chart or average annual total return table is being presented. The year-by year-total return bar chart and the average annual total return table will be provided after the Fund has annual returns for at least one calendar year.

More recent performance information will be available on the Columbia Funds' website at www.columbiamanagement.com or by calling 800.345.6611.

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