0001193125-19-146443.txt : 20190514 0001193125-19-146443.hdr.sgml : 20190514 20190514151902 ACCESSION NUMBER: 0001193125-19-146443 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 37 FILED AS OF DATE: 20190514 DATE AS OF CHANGE: 20190514 EFFECTIVENESS DATE: 20190514 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: 19822378 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: 1940 Act SEC FILE NUMBER: 811-01829 FILM NUMBER: 19822377 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 S000009184 Columbia Acorn Fund C000024954 Columbia Acorn Fund Class A LACAX C000024956 Columbia Acorn Fund Class C LIACX C000024957 Columbia Acorn Fund Institutional Class ACRNX C000122735 Columbia Acorn Fund Advisor Class CEARX C000122736 Columbia Acorn Fund Institutional 2 Class CRBRX C000122737 Columbia Acorn Fund Institutional 3 Class CRBYX 0000002110 S000009185 Columbia Acorn International C000024958 Columbia Acorn International Class A LAIAX C000024960 Columbia Acorn International Class C LAICX C000024961 Columbia Acorn International Institutional Class ACINX C000097732 Columbia Acorn International Class R CACRX C000097733 Columbia Acorn International Institutional 2 Class CAIRX C000122738 Columbia Acorn International Advisor Class CCIRX C000122739 Columbia Acorn International Institutional 3 Class CCYIX 0000002110 S000009186 Columbia Acorn USA C000024962 Columbia Acorn USA Class A LAUAX C000024964 Columbia Acorn USA Class C LAUCX C000024965 Columbia Acorn USA Institutional Class AUSAX C000122740 Columbia Acorn USA Advisor Class CUSAX C000122741 Columbia Acorn USA Institutional 2 Class CYSRX C000122742 Columbia Acorn USA Institutional 3 Class CUSYX 0000002110 S000009187 Columbia Acorn Select C000024966 Columbia Acorn Select Class A LTFAX C000024968 Columbia Acorn Select Class C LTFCX C000024969 Columbia Acorn Select Institutional Class ACTWX C000122743 Columbia Acorn Select Advisor Class CSSRX C000122744 Columbia Acorn Select Institutional 2 Class CSLRX C000122745 Columbia Acorn Select Institutional 3 Class CSLYX 0000002110 S000009188 Columbia Acorn International Select C000024970 Columbia Acorn International Select Class A LAFAX C000024972 Columbia Acorn International Select Class C LFFCX C000024973 Columbia Acorn International Select Institutional Class ACFFX C000122746 Columbia Acorn International Select Institutional 2 Class CRIRX C000122747 Columbia Acorn International Select Institutional 3 Class CSIRX C000122748 Columbia Acorn International Select Advisor Class CILRX 0000002110 S000009189 Columbia Thermostat Fund C000024974 Columbia Thermostat Fund Class A CTFAX C000024976 Columbia Thermostat Fund Class C CTFDX C000024977 Columbia Thermostat Fund Institutional Class COTZX C000122749 Columbia Thermostat Fund Advisor Class CTORX C000122750 Columbia Thermostat Fund Institutional 2 Class CQTRX C000122751 Columbia Thermostat Fund Institutional 3 Class CYYYX 0000002110 S000033621 Columbia Acorn European Fund C000103324 Columbia Acorn European Fund Class A CAEAX C000103325 Columbia Acorn European Fund Class C CAECX C000103327 Columbia Acorn European Fund Institutional Class CAEZX C000122752 Columbia Acorn European Fund Institutional 2 Class CAEEX C000144049 Columbia Acorn European Fund Advisor Class CLOFX C000171393 Columbia Acorn European Fund Institutional 3 Class CAEYX 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 C000103331 Columbia Acorn Emerging Markets Fund Institutional Class CEFZX C000122753 Columbia Acorn Emerging Markets Fund Advisor Class CAERX C000122754 Columbia Acorn Emerging Markets Fund Institutional 2 Class CANRX C000128887 Columbia Acorn Emerging Markets Fund Institutional 3 Class CPHRX 485BPOS 1 d720365d485bpos.htm COLUMBIA ACORN TRUST Columbia Acorn Trust

As filed with the Securities and Exchange Commission on May 14, 2019

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. 111

and

REGISTRATION STATEMENT

UNDER

THE INVESTMENT COMPANY ACT OF 1940

Amendment No. 86

 

 

COLUMBIA ACORN TRUST

227 West Monroe Street, Suite 3000

Chicago, Illinois 60606

Telephone number: 312.634.9200

 

 

 

Ryan C. Larrenaga

c/o Columbia Management
Investment Advisers, LLC

225 Franklin Street

Boston, MA 02110

 

Matthew A. Litfin

Louis J. Mendes

Columbia Acorn Trust

227 West Monroe Street,

Suite 3000

Chicago, Illinois 60606

 

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:

 

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 May 14, 2019.

 

COLUMBIA ACORN TRUST

By:

 

/S/    MATTHEW A. LITFIN        

  Matthew A. Litfin, Co-President

By:

 

/S/    LOUIS J. MENDES        

  Louis J. Mendes, Co-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/    MAUREEN M. CULHANE        

  Trustee     )    
Maureen M. Culhane       )    
      )    

/S/    MARGARET M. EISEN        

  Trustee     )    
Margaret M. Eisen       )    
      )    

/S/    ERIC FELDSTEIN        

  Trustee     )    
Eric Feldstein       )    
      )    

/S/    JOHN C. HEATON        

  Trustee     )    
John C. Heaton       )    
      )    

/S/    CHARLES R. PHILLIPS        

  Trustee     )    
Charles R. Phillips       )    
      )    

/S/    DAVID J. RUDIS        

  Trustee     )     May 14, 2019
David J. Rudis       )    
      )    

/S/    LOUIS J. MENDES        

  Co-President and Principal Executive     )    
Louis J. Mendes   Officer     )    
      )    

/S/    JOHN M. KUNKA        

  Vice President and Treasurer (Principal Financial Officer)    

)

)

 

 

 
John M. Kunka       )    


Exhibit Index

 

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

 

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Fund) seeks long-term capital appreciation. <b>Fees and Expenses of the Fund </b> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. An investor transacting in a class of Fund shares without any front-end sales charge, contingent deferred sales charge, or other asset-based fee for sales or distribution may be required to pay a commission to the financial intermediary for effecting such transactions. Such commission rates are set by the financial intermediary and are not reflected in the tables or the example below. You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 25 of the Fund&#8217;s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1. <b>Shareholder Fees (fees paid directly from your investment) </b> <b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) </b> <b>Example </b> 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:<ul type ="square"><li>you invest $10,000 in the applicable class of Fund shares for the periods indicated,</li></ul><ul type ="square"><li> your investment has a 5% return each year, and</li></ul><ul type ="square"><li>the Fund&#8217;s total annual operating expenses remain the same as shown in the Annual Fund Operating Expenses table above.</li></ul>Since the waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire as indicated in the preceding table, they are only reflected in the 1 year example and the first year of the other examples. Although your actual costs may be higher or lower, based on the assumptions listed above, your costs would be: <b>Portfolio Turnover </b> The Fund may pay transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; 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&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 53% of the average value of its portfolio. <b>Principal Investment Strategies </b> 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.<br/><br/>Under normal circumstances, the Fund (i) invests a majority of its net assets in the common stock of small- and mid-sized companies with market capitalizations under $10 billion at the time of initial investment (&#8220;Focus Stocks&#8221;) and (ii) may also invest in companies with market capitalizations above $10 billion, provided that immediately after that investment a majority of the Fund&#8217;s net assets would be invested in Focus Stocks. The Fund may continue to hold, and make additional investments in, Focus Stocks whose market capitalizations have grown to exceed $10 billion, regardless of whether the Fund&#8217;s investments in Focus Stocks are a majority of the Fund&#8217;s net assets.<br/><br/>Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Investment Manager), believes that stocks of small- and mid-sized companies, which generally are not as well known by financial analysts as larger companies, may offer higher return potential than stocks of larger companies.<br/><br/>The Fund takes advantage of the Investment Manager'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.<br/><br/>Generally, the Investment Manager will determine which countries are emerging market countries by reference to the countries included in the MSCI Emerging Markets SMID Cap Index (Net). In addition, the Fund may invest in certain developing market countries that are not included in the MSCI Emerging Markets SMID Cap Index (Net), but which are included on another independent third-party listing of emerging market and/or frontier market countries. The Investment Manager will make all determinations as to whether a company is an emerging market company at the time of investment.<br/><br/>The Investment Manager typically seeks companies with:<ul type ="square"><li>A strong business franchise that offers growth potential.</li></ul><ul type ="square"><li>Products and services in which the company has a competitive advantage.</li></ul><ul type ="square"><li>A stock price the Investment Manager believes is reasonable relative to the assets and earning power of the company.</li></ul>The Investment Manager may sell a portfolio holding if the security reaches the Investment Manager's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Investment Manager believes other securities are more attractive. The Investment Manager also may sell a portfolio holding to fund redemptions. <b>Principal Risks </b> An investment in the Fund involves risks, including those described below. There is no assurance that the Fund will achieve its investment objective and you may lose money. The value of the Fund&#8217;s holdings may decline, and the Fund&#8217;s net asset value (NAV) and share price may go down. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.<br/><br/><b>Active Management Risk.</b> The Investment Manager&#8217;s active management of the Fund could cause the Fund to underperform its benchmark index and/or other funds with similar investment objectives and/or strategies.<br/><br/><b>Liquidity and Trading Volume Risk.</b> Due to market conditions, including uncertainty regarding the price of a security, it may be difficult for the Fund to buy or sell portfolio securities at a desirable time or price, which could result in investment losses. This risk of portfolio illiquidity is heightened with respect to small- and mid-cap securities, generally, and foreign small- and mid-cap securities in particular. The Fund may have to lower the selling price, liquidate other investments, or forego another, more appealing investment opportunity as a result of illiquidity in the markets. The Fund may also be limited in its ability to execute favorable trades in portfolio securities in response to changes in share prices and fundamentals, and may be forced to dispose of securities under disadvantageous circumstances and at a loss. As the Fund grows in size or, conversely, if it faces significant redemption pressure, these considerations take on increasing significance and may adversely impact performance.<br/><br/><b>Foreign Securities Risk.</b> Investments in or exposure to foreign securities involve certain risks not associated with investments in or exposure to securities of U.S. companies. Foreign securities subject the Fund to the risks associated with investing in the particular country of an issuer, including political, regulatory, economic, social, diplomatic and other conditions or events (including, for example, military confrontations, war and terrorism), occurring in the country or region, as well as risks associated with less developed custody and settlement practices. Foreign securities may be more volatile and less liquid than securities of U.S. companies, and are subject to the risks associated with potential imposition of economic and other sanctions against a particular foreign country, its nationals or industries or businesses within the country. In addition, foreign governments may impose withholding or other taxes on the Fund&#8217;s income, capital gains or proceeds from the disposition of foreign securities, which could reduce the Fund&#8217;s return on such securities.<br/><br/>Operational and Settlement Risks of Foreign Securities. The Fund&#8217;s foreign securities are generally held outside the United States in the primary market for the securities in the custody of foreign sub-custodians. Some countries have limited governmental oversight and regulation, which increases the risk of corruption and fraud and the possibility of losses to the Fund. In particular, under certain circumstances, foreign securities may settle on a delayed delivery basis, meaning that the Fund may be required to make payment for securities before the Fund has actually received delivery of the securities or deliver securities prior to the receipt of payment. As a result, there is a risk that the security will not be delivered to the Fund or that payment will not be received. Losses can also result from lost, stolen or counterfeit securities; defaults by brokers and banks; failures or defects of the settlement system; or poor and improper record keeping by registrars and issuers.<br/><br/>Share Blocking. In certain non-U.S. markets, an issuer&#8217;s securities are blocked from trading for a specified number of days before and, in certain instances, after a shareholder meeting. The blocking period can last up to several weeks. Share blocking may prevent the Fund from buying or selling securities during this period. As a consequence of these restrictions, the Investment Manager, on behalf of the Fund, may abstain from voting proxies in markets that require share blocking.<br/><br/><b>Emerging Market Securities Risk.</b> Securities issued by foreign governments or companies in emerging market countries, such as China, Russia and certain countries 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 changes or developments in social, political, economic or other conditions. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity (i.e., lower trading volumes and less liquidity) 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 and have fewer trading partners, which makes them more sensitive to world commodity prices and economic downturns in other countries, and some have a higher risk of currency devaluations.<br/><br/>Operational and Settlement Risks of Securities in Emerging Markets. Foreign sub-custodians in emerging markets may be recently organized, lack extensive operating experience or lack effective government oversight or regulation. In addition, there may be legal restrictions or limitations on the ability of the Fund to recover assets held in custody by a foreign sub-custodian in the event of the bankruptcy of the sub-custodian. There may also be a greater risk that settlement may be delayed and that cash or securities of the Fund may be lost because of failures of or defects in the system, including fraud or corruption. Settlement systems in emerging markets also have a higher risk of failed trades.<br/><br/>Risks Related to Currencies and Corporate Actions in Emerging Markets. Risks related to currencies and corporate actions are also greater in emerging market countries than in developed countries. Emerging market currencies may not have an active trading market and are subject to a higher risk of currency devaluations.<br/><br/>Risks Related to Corporate and Securities Laws in Emerging Markets. Securities laws in emerging markets may be relatively new and unsettled and, consequently, there is a risk of rapid and unpredictable change in laws regarding foreign investment, securities regulation, title to securities and shareholder rights.<br/><br/><b>Frontier Market Risk.</b> Frontier market countries generally have smaller economies and even less developed capital markets than traditional emerging market countries (which themselves have increased investment risk relative to more developed market countries) and, as a result, the Fund&#8217;s exposure to the risks associated with investing in emerging market countries are magnified when the Fund invests in frontier market countries. Increased risks include: the potential for extreme price volatility and illiquidity in frontier market countries; government ownership or control of parts of the private sector and of certain companies; trade barriers, exchange controls, managed adjustments in relative currency values and other protectionist and similar 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.<br/><br/><b>Foreign Currency Risk.</b> The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar, particularly if the Fund invests a significant percentage of its assets in foreign securities or other assets denominated in currencies other than the U.S. dollar.<br/><br/><b>Geographic Focus Risk.</b> The Fund may be particularly susceptible to economic, political, regulatory or other events or conditions affecting issuers and countries within the specific geographic regions in which the Fund invests. The Fund&#8217;s NAV may be more volatile than the NAV of a more geographically diversified fund.<br/><br/>Asia Pacific Region. Many of the countries in the Asia Pacific region are considered underdeveloped or developing, including from a political, economic and/or social perspective, and may have relatively unstable governments and economies based on limited business, industries and/or natural resources or commodities. Events in any one country within the region may impact other countries in the region or the region as a whole. As a result, events in the region will generally have a greater effect on the Fund than if the Fund were more geographically diversified. This could result in increased volatility in the value of the Fund&#8217;s investments and losses for the Fund. Also, securities of some companies in the region can be less liquid than U.S. or other foreign securities, potentially making it difficult for the Fund to sell such securities at a desirable time and price.<br/><br/><b>Growth Securities Risk.</b> Growth securities typically trade at a higher multiple of earnings than other types of equity securities. Accordingly, the market values of growth securities may never reach their expected market value and may decline in price. In addition, growth securities, at times, may not perform as well as value securities or the stock market in general, and may be out of favor with investors for varying periods of time.<br/><br/><b>Small- and Mid-Cap Company Securities Risk.</b> Investments in small- and mid-cap companies often involve greater risks than investments in larger, more established companies because small- and mid-cap companies tend to have less predictable earnings and may lack the management experience, financial resources, product diversification and competitive strengths of larger companies. Securities of small- and mid-cap companies may be less liquid and more volatile than the securities of larger companies.<br/><br/><b>Sector Risk.</b> At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business within one or more economic sectors. Companies in the same sector may be similarly affected by economic, regulatory, political or market events or conditions, which may make the Fund more vulnerable to unfavorable developments in that sector than funds that invest more broadly. Generally, the more the Fund diversifies its investments, the more it spreads risk and potentially reduces the risks of loss and volatility.<br/><br/>Financial Services Sector. The Fund may be more susceptible to the particular risks that may affect companies in the financial services sector than if it were invested in a wider variety of companies in unrelated sectors. Companies in the financial services sector are subject to certain risks, including the risk of regulatory change, decreased liquidity in credit markets and unstable interest rates. Such companies may have concentrated portfolios, such as a high level of loans to real estate developers, which makes them vulnerable to economic conditions that affect that industry. Performance of such companies may be affected by competitive pressures and exposure to investments or agreements that, under certain circumstances, may lead to losses (e.g., subprime loans). Companies in the financial services sector are subject to extensive governmental regulation that may limit the amount and types of loans and other financial commitments they can make, and interest rates and fees that they may charge. In addition, profitability of such companies is largely dependent upon the availability and the cost of capital.<br/><br/><b>Issuer Risk.</b> An issuer in which the Fund invests may perform poorly, and the value of its securities may therefore decline, which may negatively affect the Fund&#8217;s performance. Underperformance may be caused by poor management decisions, competitive pressures, breakthroughs in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent disclosures, natural disasters or other events, conditions or factors.<br/><br/> <b>Market Risk.</b> The market values of securities or other investments that the Fund holds will fall, sometimes rapidly or unpredictably, or fail to rise. An investment in the Fund could lose money over short or long periods. <b>Performance Information </b> The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund&#8217;s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund&#8217;s returns for the periods shown with the MSCI Emerging Markets SMID Cap Index (Net). The MSCI Emerging Markets SMID Cap Index (Net) captures mid- and small-cap representation across 24 emerging market countries. It has 1,949 constituents (as of March 31, 2019) and covers approximately 29% of the free float adjusted market capitalization in each country.<br/><br/>The performance of one or more share classes shown in the Average Annual Total Returns table below includes the Fund&#8217;s Class Inst share returns (adjusted to reflect the higher class-related operating expenses of such classes, where applicable) for periods prior to the indicated inception date of such share classes. Except for differences in fees and expenses, all share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities.<br/><br/>The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. Your actual after-tax returns will depend on your personal tax situation and may differ from those shown in the table. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class Inst shares and will vary for other share classes. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares.<br/><br/><b>The Fund&#8217;s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future.</b> Updated performance information can be obtained by calling toll-free 800.345.6611 or visiting columbiathreadneedleus.com. <b>Best and Worst Quarterly Returns<br/>During the Period Shown in the Bar Chart</b><br/><br/>Best&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1st Quarter 2012 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.00%<br/><br/>Worst&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3rd Quarter 2015&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-17.21% <b>Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2018)</b> You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 25 of the Fund&#8217;s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1. Other expenses have been restated to reflect current transfer agency fees paid by the Fund. &#8220;Total annual Fund operating expenses&#8221; include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses. April 30, 2020 There is no assurance that the Fund will achieve its investment objective and you may lose money. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund&#8217;s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund&#8217;s returns for the periods shown with the MSCI Emerging Markets SMID Cap Index (Net). The MSCI Emerging Markets SMID Cap Index (Net) captures mid- and small-cap representation across 24 emerging market countries. It has 1,949 constituents (as of March 31, 2019) and covers approximately 29% of the free float adjusted market capitalization in each country. The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class Inst shares and will vary for other share classes. <b>The Fund&#8217;s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future.</b> 800.345.6611 columbiathreadneedleus.com <b>Year by Year Total Return (%)<br/>as of December 31 Each Year</b> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleAnnualFundOperatingExpenses000013 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleExpenseExampleNoRedemptionTransposed000015 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleExpenseExampleTransposed000014 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleAverageAnnualTotalReturnsTransposed000017 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleShareholderFees000012 column period compact * ~</div> SUMMARY OF THE FUND <b>Investment Objective </b> Columbia Acorn European Fund<sup>SM</sup> (the Fund) seeks long-term capital appreciation. <b>Fees and Expenses of the Fund </b> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. An investor transacting in a class of Fund shares without any front-end sales charge, contingent deferred sales charge, or other asset-based fee for sales or distribution may be required to pay a commission to the financial intermediary for effecting such transactions. Such commission rates are set by the financial intermediary and are not reflected in the tables or the example below. You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 23 of the Fund&#8217;s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1. <b>Shareholder Fees (fees paid directly from your investment)</b> <b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</b> <b>Example </b> 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:<ul type ="square"><li>you invest $10,000 in the applicable class of Fund shares for the periods indicated,</li></ul><ul type ="square"><li> your investment has a 5% return each year, and</li></ul><ul type ="square"><li>the Fund&#8217;s total annual operating expenses remain the same as shown in the Annual Fund Operating Expenses table above.</li></ul>Since the waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire as indicated in the preceding table, they are only reflected in the 1 year example and the first year of the other examples. Although your actual costs may be higher or lower, based on the assumptions listed above, your costs would be: <b>Portfolio Turnover </b> The Fund may pay transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs&nbsp;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&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 39% of the average value of its portfolio. <b>Principal Investment Strategies </b> 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 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.<br/><br/>Under normal circumstances, the Fund (i) 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 initial investment (&#8220;Focus Stocks&#8221;) and (ii) may also invest in companies with market capitalizations above $5 billion, provided that immediately after that investment a majority of the Fund&#8217;s net assets would be invested in Focus Stocks. The Fund may continue to hold, and make additional investments in, Focus Stocks whose market capitalizations have grown to exceed $5 billion, regardless of whether the Fund&#8217;s investments in Focus Stocks are a majority of the Fund&#8217;s net assets.<br/><br/>Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Investment Manager), believes that stocks of small- and mid-sized companies, which generally are not as well known by financial analysts as larger companies, may offer higher return potential than stocks of larger companies.<br/><br/>The Fund takes advantage of the Investment Manager'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.<br/><br/>The Investment Manager typically seeks companies with:<ul type ="square"><li>A strong business franchise that offers growth potential.</li></ul><ul type ="square"><li>Products and services in which the company has a competitive advantage.</li></ul><ul type ="square"><li>A stock price the Investment Manager believes is reasonable relative to the assets and earning power of the company.</li></ul>The Investment Manager may sell a portfolio holding if the security reaches the Investment Manager's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Investment Manager believes other securities are more attractive. The Investment Manager also may sell a portfolio holding to fund redemptions. <b>Principal Risks </b> An investment in the Fund involves risks, including those described below. There is no assurance that the Fund will achieve its investment objective and you may lose money. The value of the Fund&#8217;s holdings may decline, and the Fund&#8217;s net asset value (NAV) and share price may go down. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.<br/><br/><b>Active Management Risk.</b> The Investment Manager&#8217;s active management of the Fund could cause the Fund to underperform its benchmark index and/or other funds with similar investment objectives and/or strategies.<br/><br/><b>Liquidity and Trading Volume Risk. </b>Due to market conditions, including uncertainty regarding the price of a security, it may be difficult for the Fund to buy or sell portfolio securities at a desirable time or price, which could result in investment losses. This risk of portfolio illiquidity is heightened with respect to small- and mid-cap securities, generally, and foreign small- and mid-cap securities in particular. The Fund may have to lower the selling price, liquidate other investments, or forego another, more appealing investment opportunity as a result of illiquidity in the markets. The Fund may also be limited in its ability to execute favorable trades in portfolio securities in response to changes in share prices and fundamentals, and may be forced to dispose of securities under disadvantageous circumstances and at a loss. As the Fund grows in size or, conversely, if it faces significant redemption pressure, these considerations take on increasing significance and may adversely impact performance.<br/><br/><b>Small- and Mid-Cap Company Securities Risk.</b> Investments in small- and mid-cap companies often involve greater risks than investments in larger, more established companies because small- and mid-cap companies tend to have less predictable earnings and may lack the management experience, financial resources, product diversification and competitive strengths of larger companies. Securities of small- and mid-cap companies may be less liquid and more volatile than the securities of larger companies.<br/><br/><b>Sector Risk.</b> At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business within one or more economic sectors. Companies in the same sector may be similarly affected by economic, regulatory, political or market events or conditions, which may make the Fund more vulnerable to unfavorable developments in that sector than funds that invest more broadly. Generally, the more the Fund diversifies its investments, the more it spreads risk and potentially reduces the risks of loss and volatility.<br/><br/> Industrials Sector. The Fund may be more susceptible to the particular risks that may affect companies in the industrials sector than if it were invested in a wider variety of companies in unrelated sectors. Companies in the industrials sector are subject to certain risks, including changes in supply and demand for their specific product or service and for industrial sector products in general, including decline in demand for such products due to rapid technological developments and frequent new product introduction. Performance of such companies may be affected by factors including government regulation, world events and economic conditions and risks for environmental damage and product liability claims.<br/><br/><b>Foreign Securities Risk.</b> Investments in or exposure to foreign securities involve certain risks not associated with investments in or exposure to securities of U.S. companies. Foreign securities subject the Fund to the risks associated with investing in the particular country of an issuer, including political, regulatory, economic, social, diplomatic and other conditions or events (including, for example, military confrontations, war and terrorism), occurring in the country or region, as well as risks associated with less developed custody and settlement practices. Foreign securities may be more volatile and less liquid than securities of U.S. companies, and are subject to the risks associated with potential imposition of economic and other sanctions against a particular foreign country, its nationals or industries or businesses within the country. In addition, foreign governments may impose withholding or other taxes on the Fund&#8217;s income, capital gains or proceeds from the disposition of foreign securities, which could reduce the Fund&#8217;s return on such securities.<br/><br/>Operational and Settlement Risks of Foreign Securities. The Fund&#8217;s foreign securities are generally held outside the United States in the primary market for the securities in the custody of foreign sub-custodians. Some countries have limited governmental oversight and regulation, which increases the risk of corruption and fraud and the possibility of losses to the Fund. In particular, under certain circumstances, foreign securities may settle on a delayed delivery basis, meaning that the Fund may be required to make payment for securities before the Fund has actually received delivery of the securities or deliver securities prior to the receipt of payment. As a result, there is a risk that the security will not be delivered to the Fund or that payment will not be received. Losses can also result from lost, stolen or counterfeit securities; defaults by brokers and banks; failures or defects of the settlement system; or poor and improper record keeping by registrars and issuers.<br/><br/>Share Blocking. In certain non-U.S. markets, an issuer&#8217;s securities are blocked from trading for a specified number of days before and, in certain instances, after a shareholder meeting. The blocking period can last up to several weeks. Share blocking may prevent the Fund from buying or selling securities during this period. As a consequence of these restrictions, the Investment Manager, on behalf of the Fund, may abstain from voting proxies in markets that require share blocking.<br/><br/><b>Emerging Market Securities Risk.</b> Securities issued by foreign governments or companies in emerging market countries, such as China, Russia and certain countries 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 changes or developments in social, political, economic or other conditions. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity (i.e., lower trading volumes and less liquidity) 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 and have fewer trading partners, which makes them more sensitive to world commodity prices and economic downturns in other countries, and some have a higher risk of currency devaluations.<br/><br/>Operational and Settlement Risks of Securities in Emerging Markets. Foreign sub-custodians in emerging markets may be recently organized, lack extensive operating experience or lack effective government oversight or regulation. In addition, there may be legal restrictions or limitations on the ability of the Fund to recover assets held in custody by a foreign sub-custodian in the event of the bankruptcy of the sub-custodian. There may also be a greater risk that settlement may be delayed and that cash or securities of the Fund may be lost because of failures of or defects in the system, including fraud or corruption. Settlement systems in emerging markets also have a higher risk of failed trades.<br/><br/>Risks Related to Currencies and Corporate Actions in Emerging Markets. Risks related to currencies and corporate actions are also greater in emerging market countries than in developed countries. Emerging market currencies may not have an active trading market and are subject to a higher risk of currency devaluations.<br/><br/>Risks Related to Corporate and Securities Laws in Emerging Markets. Securities laws in emerging markets may be relatively new and unsettled and, consequently, there is a risk of rapid and unpredictable change in laws regarding foreign investment, securities regulation, title to securities and shareholder rights.<br/><br/><b>Foreign Currency Risk.</b> The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar, particularly if the Fund invests a significant percentage of its assets in foreign securities or other assets denominated in currencies other than the U.S. dollar.<br/><br/><b>Market Risk.</b> The market values of securities or other investments that the Fund holds will fall, sometimes rapidly or unpredictably, or fail to rise. An investment in the Fund could lose money over short or long periods.<br/><br/><b>Issuer Risk.</b> An issuer in which the Fund invests may perform poorly, and the value of its securities may therefore decline, which may negatively affect the Fund&#8217;s performance. Underperformance may be caused by poor management decisions, competitive pressures, breakthroughs in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent disclosures, natural disasters or other events, conditions or factors.<br/><br/><b>Geographic Focus Risk.</b> The Fund may be particularly susceptible to economic, political, regulatory or other events or conditions affecting issuers and countries within the specific geographic regions in which the Fund invests. The Fund&#8217;s NAV may be more volatile than the NAV of a more geographically diversified fund.<br/><br/>Europe. The Fund is particularly susceptible to economic, political, regulatory or other events or conditions affecting issuers and countries in Europe. In addition, the private and public sectors&#8217; debt problems of a single European Union (EU) country can pose significant economic risks to the EU as a whole. As a result, the Fund&#8217;s NAV may be more volatile than the NAV of a more geographically diversified fund. If securities of issuers in Europe fall out of favor, it may cause the Fund to underperform other funds that do not focus their investments in this region of the world. The United Kingdom (UK) was scheduled to give notice of its plans to leave the EU (commonly known as "Brexit") effective March 30, 2019, but that deadline was extended by the EU while the British Parliament considers ratification of the withdrawal agreement, and the future and full impact of Brexit remain uncertain. During this period and beyond, the impact of any partial or complete dissolution of the EU on the UK and European economies and the broader global economy could be significant, resulting in negative impacts on currency and financial markets generally, such as increased volatility and illiquidity, and potentially lower economic growth in markets in Europe, which may adversely affect the value of your investment in the Fund.<br/><br/><b>Growth Securities Risk.</b> Growth securities typically trade at a higher multiple of earnings than other types of equity securities. Accordingly, the market values of growth securities may never reach their expected market value and may decline in price. In addition, growth securities, at times, may not perform as well as value securities or the stock market in general, and may be out of favor with investors for varying periods of time. <b>Performance Information </b> The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund&#8217;s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund&#8217;s returns for the periods shown with the MSCI AC Europe Small Cap Index (Net). The MSCI AC Europe Small Cap Index (Net) captures small-cap representation across 21 countries in Europe. It has 1,075&nbsp;constituents (as of March 31, 2019) and covers approximately 14% of the free float adjusted market capitalization across each country in Europe. <br/><br/>The performance of one or more share classes shown in the Average Annual Total Returns table below includes the Fund&#8217;s Class Inst share returns (adjusted to reflect the higher class-related operating expenses of such classes, where applicable) for periods prior to the indicated inception date of such share classes. Except for differences in fees and expenses, all share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities.<br/><br/>The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. Your actual after-tax returns will depend on your personal tax situation and may differ from those shown in the table. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class Inst shares and will vary for other share classes. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares.<br/><br/><b>The Fund&#8217;s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future.</b> Updated performance information can be obtained by calling toll-free 800.345.6611 or visiting columbiathreadneedleus.com. <b>Year by Year Total Return (%)<br/>as of December 31 Each Year</b> <b>Best and Worst Quarterly Returns<br/>During the Period Shown in the Bar Chart</b><br/><br/>Best&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1st Quarter 2012&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.69% <br/><br/>Worst&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4th Quarter 2018&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.05% <b>Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2018)</b> You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 23 of the Fund&#8217;s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1. &#8220;Total annual Fund operating expenses&#8221; include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses. April 30, 2020 There is no assurance that the Fund will achieve its investment objective and you may lose money. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund&#8217;s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund&#8217;s returns for the periods shown with the MSCI AC Europe Small Cap Index (Net). The MSCI AC Europe Small Cap Index (Net) captures small-cap representation across 21 countries in Europe. It has 1,075&nbsp;constituents (as of March 31, 2019) and covers approximately 14% of the free float adjusted market capitalization across each country in Europe. The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class Inst shares and will vary for other share classes. <b>The Fund&#8217;s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future.</b> 800.345.6611 columbiathreadneedleus.com 2011-08-19 2011-08-19 2011-08-19 2011-08-19 2012-11-08 2011-08-19 2012-11-08 2013-06-13 <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleAnnualFundOperatingExpenses000023 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleExpenseExampleNoRedemptionTransposed000025 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleExpenseExampleTransposed000024 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleShareholderFees000022 column period compact * ~</div> SUMMARY OF THE FUND <b>Investment Objective</b> Columbia Acorn<sup>&#174;</sup> Fund (the Fund) seeks long-term capital appreciation. <b>Fees and Expenses of the Fund</b> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. An investor transacting in a class of Fund shares without any front-end sales charge, contingent deferred sales charge, or other asset-based fee for sales or distribution may be required to pay a commission to the financial intermediary for effecting such transactions. Such commission rates are set by the financial intermediary and are not reflected in the tables or the example below. You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 23 of the Fund&#8217;s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1. <b>Shareholder Fees (fees paid directly from your investment) </b> <b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) </b> <b>Example</b> 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:<ul type ="square"><li>you invest $10,000 in the applicable class of Fund shares for the periods indicated,</li></ul><ul type ="square"><li> your investment has a 5% return each year, and</li></ul><ul type ="square"><li>the Fund&#8217;s total annual operating expenses remain the same as shown in the Annual Fund Operating Expenses table above.</li></ul>Since the waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire as indicated in the preceding table, they are only reflected in the 1 year example and the first year of the other examples. Although your actual costs may be higher or lower, based on the assumptions listed above, your costs would be: <b>Portfolio Turnover</b> The Fund may pay transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs&nbsp;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&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 66% of the average value of its portfolio. <b>Principal Investment Strategies</b> Under normal circumstances, the Fund (i) 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 initial investment (&#8220;Focus Stocks&#8221;) and (ii) may also invest in companies with market capitalizations above $5 billion, provided that immediately after that investment a majority of the Fund&#8217;s net assets would be invested in Focus Stocks. The Fund may continue to hold, and make additional investments in, Focus Stocks whose market capitalizations have grown to exceed $5 billion, regardless of whether the Fund&#8217;s investments in Focus Stocks are a majority of the Fund&#8217;s net assets.<br/><br/>Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Investment Manager), believes that stocks of small- and mid-sized companies, which generally are not as well known by financial analysts as larger companies, may offer higher return potential than stocks of larger companies.<br/><br/>The Fund invests the majority of its assets in U.S. companies, but also may invest up to 33% of its total assets in foreign companies in developed markets (for example, Japan, Canada and the United Kingdom) and in emerging markets (for example, China, India and Brazil).<br/><br/>The Investment Manager typically seeks companies with:<ul type ="square"><li>A strong business franchise that offers growth potential.</li></ul><ul type ="square"><li>Products and services in which the company has a competitive advantage.</li></ul><ul type ="square"><li>A stock price the Investment Manager believes is reasonable relative to the assets and earning power of the company.</li></ul>The Investment Manager may sell a portfolio holding if the security reaches the Investment Manager's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Investment Manager believes other securities are more attractive. The Investment Manager also may sell a portfolio holding to fund redemptions. <b>Principal Risks</b> An investment in the Fund involves risks, including those described below. There is no assurance that the Fund will achieve its investment objective and you may lose money. The value of the Fund&#8217;s holdings may decline, and the Fund&#8217;s net asset value (NAV) and share price may go down. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.<br/><br/><b>Active Management Risk.</b> The Investment Manager&#8217;s active management of the Fund could cause the Fund to underperform its benchmark index and/or other funds with similar investment objectives and/or strategies.<br/><br/><b>Small- and Mid-Cap Company Securities Risk.</b> Investments in small- and mid-cap companies often involve greater risks than investments in larger, more established companies because small- and mid-cap companies tend to have less predictable earnings and may lack the management experience, financial resources, product diversification and competitive strengths of larger companies. Securities of small- and mid-cap companies may be less liquid and more volatile than the securities of larger companies.<br/><br/> <b>Issuer Risk.</b> An issuer in which the Fund invests may perform poorly, and the value of its securities may therefore decline, which may negatively affect the Fund&#8217;s performance. Underperformance may be caused by poor management decisions, competitive pressures, breakthroughs in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent disclosures, natural disasters or other events, conditions or factors.<br/><br/> <b>Market Risk.</b> The market values of securities or other investments that the Fund holds will fall, sometimes rapidly or unpredictably, or fail to rise. An investment in the Fund could lose money over short or long periods.<br/><br/> <b>Growth Securities Risk.</b> Growth securities typically trade at a higher multiple of earnings than other types of equity securities. Accordingly, the&nbsp;market&nbsp;values&nbsp;of growth securities may never reach their expected market value and may decline in price. In addition, growth securities, at times, may not perform as well as value securities or the stock market in general, and may be out of favor with investors for varying periods of time.<br/><br/> <b>Foreign Securities Risk.</b> Investments in or exposure to foreign securities involve certain risks not associated with investments in or exposure to securities of U.S. companies. Foreign securities subject the Fund to the risks associated with investing in the particular country of an issuer, including political, regulatory, economic, social, diplomatic and other conditions or events (including, for example, military confrontations, war and terrorism), occurring in the country or region, as well as risks associated with less developed custody and settlement practices. Foreign securities may be more volatile and less liquid than securities of U.S. companies, and are subject to the risks associated with potential imposition of economic and other sanctions against a particular foreign country, its nationals or industries or businesses within the country. In addition, foreign governments may impose withholding or other taxes on the Fund&#8217;s income, capital gains or proceeds from the disposition of foreign securities, which could reduce the Fund&#8217;s return on such securities.<br/><br/>Operational and Settlement Risks of Foreign Securities. The Fund&#8217;s foreign securities are generally held outside the United States in the primary market for the securities in the custody of foreign sub-custodians. Some countries have limited governmental oversight and regulation, which increases the risk of corruption and fraud and the possibility of losses to the Fund. In particular, under certain circumstances, foreign securities may settle on a delayed delivery basis, meaning that the Fund may be required to make payment for securities before the Fund has actually received delivery of the securities or deliver securities prior to the receipt of payment. As a result, there is a risk that the security will not be delivered to the Fund or that payment will not be received. Losses can also result from lost, stolen or counterfeit securities; defaults by brokers and banks; failures or defects of the settlement system; or poor and improper record keeping by registrars and issuers.<br/><br/>Share Blocking. In certain non-U.S. markets, an issuer&#8217;s securities are blocked from trading for a specified number of days before and, in certain instances, after a shareholder meeting. The blocking period can last up to several weeks. Share blocking may prevent the Fund from buying or selling securities during this period. As a consequence of these restrictions, the Investment Manager, on behalf of the Fund, may abstain from voting proxies in markets that require share blocking.<br/><br/><b>Emerging Market Securities Risk.</b> Securities issued by foreign governments or companies in emerging market countries, such as China, Russia and certain countries 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 changes or developments in social, political, economic or other conditions. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity (i.e., lower trading volumes and less liquidity) 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 and have fewer trading partners, which makes them more sensitive to world commodity prices and economic downturns in other countries, and some have a higher risk of currency devaluations.<br/><br/>Operational and Settlement Risks of Securities in Emerging Markets. Foreign sub-custodians in emerging markets may be recently organized, lack extensive operating experience or lack effective government oversight or regulation. In addition, there may be legal restrictions or limitations on the ability of the Fund to recover assets held in custody by a foreign sub-custodian in the event of the bankruptcy of the sub-custodian. There may also be a greater risk that settlement may be delayed and that cash or securities of the Fund may be lost because of failures of or defects in the system, including fraud or corruption. Settlement systems in emerging markets also have a higher risk of failed trades.<br/><br/>Risks Related to Currencies and Corporate Actions in Emerging Markets. Risks related to currencies and corporate actions are also greater in emerging market countries than in developed countries. Emerging market currencies may not have an active trading market and are subject to a higher risk of currency devaluations.<br/><br/>Risks Related to Corporate and Securities Laws in Emerging Markets. Securities laws in emerging markets may be relatively new and unsettled and, consequently, there is a risk of rapid and unpredictable change in laws regarding foreign investment, securities regulation, title to securities and shareholder rights.<br/><br/><b>Liquidity and Trading Volume Risk. </b> Because the Fund may invest a percentage of its assets in foreign securities, it may be subject to the liquidity and trading volume risks associated with international investing. Due to market conditions, including uncertainty regarding the price of a security, it may be difficult for the Fund to buy or sell foreign portfolio securities at a desirable time or price, which could result in investment losses and may affect the value of your investment in the Fund. This risk of portfolio illiquidity is heightened with respect to small- and mid-cap securities, generally, and foreign small- and mid-cap securities in particular. The Fund may have to lower the selling price, liquidate other investments, or forego another, more appealing investment opportunity as a result of illiquidity in the markets. The Fund may also be limited in its ability to execute favorable trades in foreign portfolio securities in response to changes in share prices and fundamentals, and may be forced to dispose of securities under disadvantageous circumstances and at a loss. As the Fund grows in size or, conversely, if it faces significant redemption pressure, these considerations take on increasing significance and may adversely impact performance.<br/><br/><b>Foreign Currency Risk.</b> The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar, particularly if the Fund invests a significant percentage of its assets in foreign securities or other assets denominated in currencies other than the U.S. dollar.<br/><br/><b>Sector Risk.</b> At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business within one or more economic sectors. Companies in the&nbsp;same sector may be similarly affected by economic, regulatory, political or market events or conditions, which may make the Fund more vulnerable to unfavorable developments in that sector than funds that invest more broadly. Generally, the more the Fund diversifies its investments, the more it spreads risk and potentially reduces the risks of loss and volatility. <b>Performance Information</b> The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund&#8217;s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund&#8217;s returns for the periods shown with the Russell 2500 Growth Index. <br/><br/> The performance of one or more share classes shown in the Average Annual Total Returns table below includes the Fund&#8217;s Class Inst share returns (adjusted to reflect the higher class-related operating expenses of such classes, where applicable) for periods prior to the indicated inception date of such share classes. Except for differences in fees and expenses, all share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities. <br/><br/>The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. Your actual after-tax returns will depend on your personal tax situation and may differ from those shown in the table. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class Inst shares and will vary for other share classes. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares. <br/><br/><b>The Fund&#8217;s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future.</b> Updated performance information can be obtained by calling toll-free 800.345.6611 or visiting columbiathreadneedleus.com. <b>Year by Year Total Return (%)<br/> as of December 31 Each Year <b>Best and Worst Quarterly Returns<br/>During the Period Shown in the Bar Chart</b><br/><br/>Best&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2nd Quarter 2009&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20.90%<br/><br/>Worst&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4th Quarter 2018 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.76% <b>Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2018)</b> You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 23 of the Fund&#8217;s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1. This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. Other expenses have been restated to reflect current transfer agency fees paid by the Fund. &#8220;Total annual Fund operating expenses&#8221; include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses. April 30, 2020 There is no assurance that the Fund will achieve its investment objective and you may lose money. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund&#8217;s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund&#8217;s returns for the periods shown with the Russell 2500 Growth Index. The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class Inst shares and will vary for other share classes. <b>The Fund&#8217;s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future.</b> 800.345.6611 columbiathreadneedleus.com This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. Best 2012-03-31 Worst 2015-09-30 Year to Date return 2019-03-31 2011-08-19 2011-08-19 2014-06-25 2011-08-19 2012-11-08 2017-03-01 Best 1970-06-10 <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleAnnualFundOperatingExpenses000033 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleExpenseExampleNoRedemptionTransposed000035 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleExpenseExampleTransposed000034 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleAverageAnnualTotalReturnsTransposed000037 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleShareholderFees000032 column period compact * ~</div> SUMMARY OF THE FUND <b>Investment Objective </b> Columbia Acorn International<sup>&#174;</sup> (the Fund) seeks long-term capital appreciation. <b>Fees and Expenses of the Fund </b> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. An investor transacting in a class of Fund shares without any front-end sales charge, contingent deferred sales charge, or other asset-based fee for sales or distribution may be required to pay a commission to the financial intermediary for effecting such transactions. Such commission rates are set by the financial intermediary and are not reflected in the tables or the example below. You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 24 of the Fund&#8217;s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1. <b>Shareholder Fees (fees paid directly from your investment) </b> <b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) </b> <b>Example </b> 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:<ul type ="square"><li>you invest $10,000 in the applicable class of Fund shares for the periods indicated,</li></ul><ul type ="square"><li> your investment has a 5% return each year, and</li></ul><ul type ="square"><li>the Fund&#8217;s total annual operating expenses remain the same as shown in the Annual Fund Operating Expenses table above.</li></ul>Since the waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire as indicated in the preceding table, they are only reflected in the 1 year example and the first year of the other examples. Although your actual costs may be higher or lower, based on the assumptions listed above, your costs would be: <b>Portfolio Turnover </b> The Fund may pay transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs&nbsp;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&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 32% of the average value of its portfolio. <b>Principal Investment Strategies </b> Under normal circumstances, the Fund invests at least 75% of its net assets in foreign companies in developed markets (for example, Japan, Canada and the United Kingdom) and in emerging markets (for example, China, India and Brazil).<br /><br />Under normal circumstances, the Fund (i) invests a majority of its net assets in the common stock of small- and mid-sized companies with market capitalizations under $10 billion at the time of initial investment (&#8220;Focus Stocks&#8221;) and (ii) may also invest in companies with market capitalizations above $10 billion, provided that immediately after that investment a majority of the Fund&#8217;s net assets would be invested in Focus Stocks. The Fund may continue to hold, and make additional investments in, Focus Stocks whose market capitalizations have grown to exceed $10 billion, regardless of whether the Fund&#8217;s investments in Focus Stocks are a majority of the Fund&#8217;s net assets. The Fund may from time to time emphasize one or more sectors in selecting its investments.<br /><br />Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Investment Manager), believes that stocks of small- and mid-sized companies, 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 also may invest in larger-sized companies.<br /><br />The Investment Manager typically seeks companies with:<ul type="square"><li>A strong business franchise that offers growth potential.</li></ul><ul type="square"><li>Products and services in which the company has a competitive advantage.</li></ul><ul type="square"><li>A stock price the Investment Manager believes is reasonable relative to the assets and earning power of the company.</li></ul>The Investment Manager may sell a portfolio holding if the security reaches the Investment Manager's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Investment Manager believes other securities are more attractive. The Investment Manager also may sell a portfolio holding to fund redemptions. <b>Principal Risks </b> An investment in the Fund involves risks, including those described below. There is no assurance that the Fund will achieve its investment objective and you may lose money. The value of the Fund&#8217;s holdings may decline, and the Fund&#8217;s net asset value (NAV) and share price may go down. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.<br/><br/> <b>Active Management Risk.</b> The Investment Manager&#8217;s active management of the Fund could cause the Fund to underperform its benchmark index and/or other funds with similar investment objectives and/or strategies.<br/><br/> <b>Small- and Mid-Cap Company Securities Risk.</b> Investments in small- and mid-cap companies often involve greater risks than investments in larger, more established companies because small- and mid-cap companies tend to have less predictable earnings and may lack the management experience, financial resources, product diversification and competitive strengths of larger companies. Securities of small- and mid-cap companies may be less liquid and more volatile than the securities of larger companies.<br/><br/> <b>Market Risk.</b> The market values of securities or other investments that the Fund holds will fall, sometimes rapidly or unpredictably, or fail to rise. An investment in the Fund could lose money over short or long periods.<br/><br/> <b>Foreign Securities Risk.</b> Investments in or exposure to foreign securities involve certain risks not associated with investments in or exposure to securities of U.S. companies. Foreign securities subject the Fund to the risks associated with investing in the particular country of an issuer, including political, regulatory, economic, social, diplomatic and other conditions or events (including, for example, military confrontations, war and terrorism), occurring in the country or region, as well as risks associated with less developed custody and settlement practices. Foreign securities may be more volatile and less liquid than securities of U.S. companies, and are subject to the risks associated with potential imposition of economic and other sanctions against a particular foreign country, its nationals or industries or businesses within the country. In addition, foreign governments may impose withholding or other taxes on the Fund&#8217;s income, capital gains or proceeds from the disposition of foreign securities, which could reduce the Fund&#8217;s return on such securities.<br/><br/> Operational and Settlement Risks of Foreign Securities. The Fund&#8217;s foreign securities are generally held outside the United States in the primary market for the securities in the custody of foreign sub-custodians. Some countries have limited governmental oversight and regulation, which increases the risk of corruption and fraud and the possibility of losses to the Fund. In particular, under certain circumstances, foreign securities may settle on a delayed delivery basis, meaning that the Fund may be required to make payment for securities before the Fund has actually received delivery of the securities or deliver securities prior to the receipt of payment. As a result, there is a risk that the security will not be delivered to the Fund or that payment will not be received. Losses can also result from lost, stolen or counterfeit securities; defaults by brokers and banks; failures or defects of the settlement system; or poor and improper record keeping by registrars and issuers.<br/><br/> Share Blocking. In certain non-U.S. markets, an issuer&#8217;s securities are blocked from trading for a specified number of days before and, in certain instances, after a shareholder meeting. The blocking period can last up to several weeks. Share blocking may prevent the Fund from buying or selling securities during this period. As a consequence of these restrictions, the Investment Manager, on behalf of the Fund, may abstain from voting proxies in markets that require share blocking.<br/><br/> <b>Emerging Market Securities Risk.</b> Securities issued by foreign governments or companies in emerging market countries,&nbsp;such as&nbsp;China, Russia and certain countries 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 changes or developments in social, political, economic or other conditions. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity (i.e., lower trading volumes and less liquidity) 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 and have fewer trading partners, which makes them more sensitive to world commodity prices and economic downturns in other countries, and some have a higher risk of currency devaluations.<br/><br/> Operational and Settlement Risks of Securities in Emerging Markets. Foreign sub-custodians in emerging markets may be recently organized, lack extensive operating experience or lack effective government oversight or regulation. In addition, there may be legal restrictions or limitations on the ability of the Fund to recover assets held in custody by a foreign sub-custodian in the event of the bankruptcy of the sub-custodian. There may also be a greater risk that settlement may be delayed and that cash or securities of the Fund may be lost because of failures of or defects in the system, including fraud or corruption. Settlement systems in emerging markets also have a higher risk of failed trades.<br/><br/> Risks Related to Currencies and Corporate Actions in Emerging Markets. Risks related to currencies and corporate actions are also greater in emerging market countries than in developed countries. Emerging market currencies may not have an active trading market and are subject to a higher risk of currency devaluations.<br/><br/> Risks Related to Corporate and Securities Laws in Emerging Markets. Securities laws in emerging markets may be relatively new and unsettled and, consequently, there is a risk of rapid and unpredictable change in laws regarding foreign investment, securities regulation, title to securities and shareholder rights.<br/><br/> <b>Liquidity and Trading Volume Risk. </b> Due to market conditions, including uncertainty regarding the price of a security, it may be difficult for the Fund to buy or sell portfolio securities at a desirable time or price, which could result in investment losses. This risk of portfolio illiquidity is heightened with respect to small- and mid-cap securities, generally, and foreign small- and mid-cap securities in particular. The Fund may have to lower the selling price, liquidate other investments, or forego another, more appealing investment opportunity as a result of illiquidity in the markets. The Fund may also be limited in its ability to execute favorable trades in portfolio securities in response to changes in share prices and fundamentals, and may be forced to dispose of securities under disadvantageous circumstances and at a loss. As the Fund grows in size or, conversely, if it faces significant redemption pressure, these considerations take on increasing significance and may adversely impact performance.<br/><br/> <b>Sector Risk.</b> At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business within one or more economic sectors. Companies in the&nbsp;same sector may be similarly affected by economic, regulatory, political or market events or conditions, which may make the Fund more vulnerable to unfavorable developments in that sector than funds that invest more broadly. Generally, the more the Fund diversifies its investments, the more it spreads risk and potentially reduces the risks of loss and volatility.<br/><br/> Industrials Sector. The Fund may be more susceptible to the particular risks that may affect companies in the industrials sector than if it were invested in a wider variety of companies in unrelated sectors. Companies in the industrials sector are subject to certain risks, including changes in supply and demand for their specific product or service and for industrial sector products in general, including decline in demand for such products due to rapid technological developments and frequent new product introduction. Performance of such companies may be affected by factors including government regulation, world events and economic conditions and risks for environmental damage and product liability claims.<br/><br/> <b>Foreign Currency Risk.</b> The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar, particularly if the Fund invests a significant percentage of its assets in foreign securities or other assets denominated in currencies other than the U.S. dollar.<br/><br/> <b>Issuer Risk.</b> An issuer in which the Fund invests may perform poorly, and the value of its securities may therefore decline, which may negatively affect the Fund&#8217;s performance. Underperformance may be caused by poor management decisions, competitive pressures, breakthroughs in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent disclosures, natural disasters or other events, conditions or factors.<br/><br/> <b>Geographic Focus Risk.</b> The Fund may be particularly susceptible to economic, political, regulatory or other events or conditions affecting issuers and countries within the specific geographic regions in which the Fund invests. The Fund&#8217;s NAV may be more volatile than the NAV of a more geographically diversified fund.<br/><br/> Asia Pacific Region. Many of the countries in the Asia Pacific region are considered underdeveloped or developing, including from a political, economic and/or social perspective, and may have relatively unstable governments and economies based on limited business, industries and/or natural resources or commodities. Events in any one country within the region may impact other countries in the region or the region as a whole. As a result, events in the region will generally have a greater effect on the Fund than if the Fund were more geographically diversified. This could result in increased volatility in the value of the Fund&#8217;s investments and losses for the Fund. Also, securities of some companies in the region can be less liquid than U.S. or other foreign securities, potentially making it difficult for the Fund to sell such securities at a desirable time and price.<br/><br/> Europe. The Fund is particularly susceptible to economic, political, regulatory or other events or conditions affecting issuers and countries in Europe. In addition, the private and public sectors&#8217; debt problems of a single European Union (EU) country can pose significant economic risks to the EU as a whole. As a result, the Fund&#8217;s NAV may be more volatile than the NAV of a more geographically diversified fund. If securities of issuers in Europe fall out of favor, it may cause the Fund to underperform other funds that do not focus their investments in this region of the world. The United Kingdom (UK) was scheduled to give notice of its plans to leave the EU (commonly known as "Brexit") effective March 30, 2019, but that deadline was extended by the EU while the British Parliament considers ratification of the withdrawal agreement, and the future and full impact of Brexit remain uncertain. During this period and beyond, the impact of any partial or complete dissolution of the EU on the UK and European economies and the broader global economy could be significant, resulting in negative impacts on currency and financial markets generally, such as increased volatility and illiquidity, and potentially lower economic growth in markets in Europe, which may adversely affect the value of your investment in the Fund.<br/><br/> <b>Growth Securities Risk.</b> Growth securities typically trade at a higher multiple of earnings than other types of equity securities. Accordingly, the&nbsp;market&nbsp;values&nbsp;of growth securities may never reach their expected market value and may decline in price. In addition, growth securities, at times, may not perform as well as value securities or the stock market in general, and may be out of favor with investors for varying periods of time. <b>Performance Information </b> The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund&#8217;s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund&#8217;s returns for the periods shown with those of the MSCI ACWI ex USA SMID Cap Growth Index (Net), the Fund's primary benchmark, and those of the MSCI ACWI ex USA SMID Cap Index (Net), the Fund's secondary benchmark. The MSCI ACWI ex USA SMID Cap Growth Index (Net) captures mid- and small-cap securities exhibiting overall growth style characteristics across 22&nbsp;developed markets countries and 24 emerging markets countries. The MSCI ACWI ex USA SMID Cap Index (Net) captures mid- and small-cap representation across 22 of 23 developed markets countries (excluding the United States) and 24 emerging market countries. As of March 31, 2019, the MSCI ACWI ex USA SMID Cap Index (Net) had 5,063 constituents and covered approximately 28% of the free float-adjusted market capitalization in each country. Effective May 1, 2019, the MSCI ACWI ex USA SMID Cap Growth Index (Net) became the Fund&#8217;s primary benchmark; prior to May 1, 2019, this index was the Fund&#8217;s secondary benchmark. Also effective May 1, 2019, the MSCI ACWI ex USA SMID Cap Index (Net) became the Fund&#8217;s secondary benchmark; prior to May 1, 2019 this index was the Fund&#8217;s primary benchmark. The Investment Manager switched the Fund&#8217;s primary and secondary benchmarks because the Investment Manager believes that the Fund&#8217;s portfolio more closely aligns with the MSCI ACWI ex USA SMID Cap Growth Index (Net). The Investment Manager believes that the MSCI ACWI ex USA SMID Cap Index (Net) continues to provide a meaningful additional basis for comparing the Fund's performance because the Fund&#8217;s portfolio will generally be closely aligned with the index from an investment style perspective. <br/><br/>The performance of one or more share classes shown in the Average Annual Total Returns table below includes the Fund&#8217;s Class Inst share returns (adjusted to reflect the higher class-related operating expenses of such classes, where applicable) for periods prior to the indicated inception date of such share classes. Except for differences in fees and expenses, all share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities. <br/><br/>The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. Your actual after-tax returns will depend on your personal tax situation and may differ from those shown in the table. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class Inst shares and will vary for other share classes. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares. <br/><br/><b>The Fund&#8217;s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future.</b> Updated performance information can be obtained by calling toll-free 800.345.6611 or visiting columbiathreadneedleus.com. <b>Year by Year Total Return (%)<br/> as of December 31 Each Year</b> <b>Best and Worst Quarterly Returns</b><br/><b>During the Period Shown in the Bar Chart</b><br/><br/>Best &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2nd Quarter 2009&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33.30%<br/><br/>Worst&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3rd Quarter 2011&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp; -18.23% <b>Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2018)</b> You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 24 of the Fund&#8217;s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1. This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. Other expenses have been restated to reflect current transfer agency fees paid by the Fund. &#8220;Total annual Fund operating expenses&#8221; include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses. April 30, 2020 There is no assurance that the Fund will achieve its investment objective and you may lose money. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund&#8217;s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund&#8217;s returns for the periods shown with those of the MSCI ACWI ex USA SMID Cap Growth Index (Net), the Fund's primary benchmark, and those of the MSCI ACWI ex USA SMID Cap Index (Net), the Fund's secondary benchmark. The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class Inst shares and will vary for other share classes. <b>The Fund&#8217;s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future.</b> 800.345.6611 columbiathreadneedleus.com 1970-06-10 1970-06-10 2000-10-16 2012-11-08 2000-10-16 2012-11-08 2012-11-08 Best 2009-06-30 Worst 2018-12-31 1992-09-23 <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleAnnualFundOperatingExpenses000043 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleExpenseExampleNoRedemptionTransposed000045 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleExpenseExampleTransposed000044 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleAverageAnnualTotalReturnsTransposed000047 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleShareholderFees000042 column period compact * ~</div> SUMMARY OF THE FUND <b>Investment Objective </b> Columbia Acorn International Select<sup>SM</sup> (the Fund) seeks long-term capital appreciation. <b>Fees and Expenses of the Fund </b> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. An investor transacting in a class of Fund shares without any front-end sales charge, contingent deferred sales charge, or other asset-based fee for sales or distribution may be required to pay a commission to the financial intermediary for effecting such transactions. Such commission rates are set by the financial intermediary and are not reflected in the tables or the example below. You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 26 of the Fund&#8217;s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1. <b>Shareholder Fees (fees paid directly from your investment) </b> <b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) </b> <b>Example </b> 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:<ul type ="square"><li>you invest $10,000 in the applicable class of Fund shares for the periods indicated,</li></ul><ul type ="square"><li> your investment has a 5% return each year, and</li></ul><ul type ="square"><li>the Fund&#8217;s total annual operating expenses remain the same as shown in the Annual Fund Operating Expenses table above.</li></ul>Since the waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire as indicated in the preceding table, they are only reflected in the 1 year example and the first year of the other examples. Although your actual costs may be higher or lower, based on the assumptions listed above, your costs would be: <b>Portfolio Turnover </b> The Fund may pay transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs&nbsp;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&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 48% of the average value of its portfolio. <b>Principal Investment Strategies </b> Under normal circumstances, the Fund invests at least 65% of its net assets in foreign companies in developed markets (for example, Japan, Canada and the United Kingdom).<br /><br />The Fund also may invest up to 35% of its total assets in companies in emerging markets (for example, China, India and Brazil). The Fund generally invests in at least three countries other than the United States but may invest up to 25% of its total assets in securities of U.S. issuers.<br /><br />Under normal circumstances, the Fund (i) invests a majority of its net assets in the common stock of small- and mid-sized companies with market capitalizations under $25 billion at the time of initial investment (&#8220;Focus Stocks&#8221;) and (ii) may also invest in companies with market capitalizations above $25 billion, provided that immediately after that investment a majority of the Fund&#8217;s net assets would be invested in Focus Stocks. The Fund may continue to hold, and make additional investments in, Focus Stocks whose market capitalizations have grown to exceed $25 billion, regardless of whether the Fund&#8217;s investments in Focus Stocks are a majority of the Fund&#8217;s net assets.<br /><br />Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Investment Manager), believes that stocks of small- and mid-sized companies, 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 also may invest in larger-sized companies. The Fund may from time to time emphasize one or more sectors in selecting its investments.<br /><br />The Fund invests in a limited number of foreign companies (generally between 30-60), offering the potential to provide above-average growth over time. In pursuit of the Fund&#8217;s objective, the portfolio managers will take advantage of the research and stock-picking capabilities of the Investment Manager and will generally concentrate the Fund&#8217;s investments in those sectors, companies, geographic regions or industries that the portfolio managers believe offer the best investment return potential.<br /><br />The Investment Manager typically seeks companies with:<ul type="square"><li>A strong business franchise that offers growth potential.</li></ul><ul type="square"><li>Products and services in which the company has a competitive advantage.</li></ul><ul type="square"><li>A stock price the Investment Manager believes is reasonable relative to the assets and earning power of the company.</li></ul>The Investment Manager may sell a portfolio holding if the security reaches the Investment Manager's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Investment Manager believes other securities are more attractive. The Investment Manager also may sell a portfolio holding to fund redemptions. <b>Principal Risks </b> An investment in the Fund involves risks, including those described below. There is no assurance that the Fund will achieve its investment objective and you may lose money. The value of the Fund&#8217;s holdings may decline, and the Fund&#8217;s net asset value (NAV) and share price may go down. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. <br/><br/> <b>Active Management Risk.</b> The Investment Manager&#8217;s active management of the Fund could cause the Fund to underperform its benchmark index and/or other funds with similar investment objectives and/or strategies.<br/><br/> <b>Sector Risk.</b> At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business within one or more economic sectors. Companies in the&nbsp;same sector may be similarly affected by economic, regulatory, political or market events or conditions, which may make the Fund more vulnerable to unfavorable developments in that sector than funds that invest more broadly. Generally, the more the Fund diversifies its investments, the more it spreads risk and potentially reduces the risks of loss and volatility.<br/><br/> Financial Services Sector. The Fund may be more susceptible to the particular risks that may affect companies in the financial services sector than if it were invested in a wider variety of companies in unrelated sectors. Companies in the financial services sector are subject to certain risks, including the risk of regulatory change, decreased liquidity in credit markets and unstable interest rates. Such companies may have concentrated portfolios, such as a high level of loans to real estate developers, which makes them vulnerable to economic conditions that affect that industry. Performance of such companies may be affected by competitive pressures and exposure to investments or agreements that, under certain circumstances, may lead to losses (e.g., subprime loans). Companies in the financial services sector are subject to extensive governmental regulation that may limit the amount and types of loans and other financial commitments they can make, and interest rates and fees that they may charge. In addition, profitability of such companies is largely dependent upon the availability and the cost of capital.<br/><br/> Industrials Sector. The Fund may be more susceptible to the particular risks that may affect companies in the industrials sector than if it were invested in a wider variety of companies in unrelated sectors. Companies in the industrials sector are subject to certain risks, including changes in supply and demand for their specific product or service and for industrial sector products in general, including decline in demand for such products due to rapid technological developments and frequent new product introduction. Performance of such companies may be affected by factors including government regulation, world events and economic conditions and risks for environmental damage and product liability claims.<br/><br/> <b>Select Portfolio Risk. </b> Because the Fund may invest in a limited number of companies, the Fund as a whole is subject to greater risk of loss if any of its portfolio securities decline in price. The Fund accordingly may be more susceptible to economic, political and regulatory developments than a fund that invests in a greater number of companies. In addition, the Fund&#8217;s holdings and weightings will diverge significantly from its primary benchmark&#8217;s holdings and weightings and the Fund may therefore experience greater risk and volatility relative to the benchmark. Because the Fund may invest in more than one company concentrated in a similar industry, sector or geographic region, the Fund may be even more concentrated than the number of companies it may hold would suggest. <br/><br/> <b>Liquidity and Trading Volume Risk. </b> Due to market conditions, including uncertainty regarding the price of a security, it may be difficult for the Fund to buy or sell portfolio securities at a desirable time or price, which could result in investment losses. This risk of portfolio illiquidity is heightened with respect to small- and mid-cap securities, generally, and foreign small- and mid-cap securities in particular. The Fund may have to lower the selling price, liquidate other investments, or forego another, more appealing investment opportunity as a result of illiquidity in the markets. The Fund may also be limited in its ability to execute favorable trades in portfolio securities in response to changes in share prices and fundamentals, and may be forced to dispose of securities under disadvantageous circumstances and at a loss. As the Fund grows in size or, conversely, if it faces significant redemption pressure, these considerations take on increasing significance and may adversely impact performance.<br/><br/> <b>Foreign Securities Risk.</b> Investments in or exposure to foreign securities involve certain risks not associated with investments in or exposure to securities of U.S. companies. Foreign securities subject the Fund to the risks associated with investing in the particular country of an issuer, including political, regulatory, economic, social, diplomatic and other conditions or events (including, for example, military confrontations, war and terrorism), occurring in the country or region, as well as risks associated with less developed custody and settlement practices. Foreign securities may be more volatile and less liquid than securities of U.S. companies, and are subject to the risks associated with potential imposition of economic and other sanctions against a particular foreign country, its nationals or industries or businesses within the country. In addition, foreign governments may impose withholding or other taxes on the Fund&#8217;s income, capital gains or proceeds from the disposition of foreign securities, which could reduce the Fund&#8217;s return on such securities.<br/><br/> Operational and Settlement Risks of Foreign Securities. The Fund&#8217;s foreign securities are generally held outside the United States in the primary market for the securities in the custody of foreign sub-custodians. Some countries have limited governmental oversight and regulation, which increases the risk of corruption and fraud and the possibility of losses to the Fund. In particular, under certain circumstances, foreign securities may settle on a delayed delivery basis, meaning that the Fund may be required to make payment for securities before the Fund has actually received delivery of the securities or deliver securities prior to the receipt of payment. As a result, there is a risk that the security will not be delivered to the Fund or that payment will not be received. Losses can also result from lost, stolen or counterfeit securities; defaults by brokers and banks; failures or defects of the settlement system; or poor and improper record keeping by registrars and issuers.<br/><br/> Share Blocking. In certain non-U.S. markets, an issuer&#8217;s securities are blocked from trading for a specified number of days before and, in certain instances, after a shareholder meeting. The blocking period can last up to several weeks. Share blocking may prevent the Fund from buying or selling securities during this period. As a consequence of these restrictions, the Investment Manager, on behalf of the Fund, may abstain from voting proxies in markets that require share blocking.<br/><br/> <b>Emerging Market Securities Risk.</b> Securities issued by foreign governments or companies in emerging market countries,&nbsp;such as&nbsp;China, Russia and certain countries 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 changes or developments in social, political, economic or other conditions. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity (i.e., lower trading volumes and less liquidity) 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 and have fewer trading partners, which makes them more sensitive to world commodity prices and economic downturns in other countries, and some have a higher risk of currency devaluations.<br/><br/> Operational and Settlement Risks of Securities in Emerging Markets. Foreign sub-custodians in emerging markets may be recently organized, lack extensive operating experience or lack effective government oversight or regulation. In addition, there may be legal restrictions or limitations on the ability of the Fund to recover assets held in custody by a foreign sub-custodian in the event of the bankruptcy of the sub-custodian. There may also be a greater risk that settlement may be delayed and that cash or securities of the Fund may be lost because of failures of or defects in the system, including fraud or corruption. Settlement systems in emerging markets also have a higher risk of failed trades. <br/><br/> Risks Related to Currencies and Corporate Actions in Emerging Markets. Risks related to currencies and corporate actions are also greater in emerging market countries than in developed countries. Emerging market currencies may not have an active trading market and are subject to a higher risk of currency devaluations.<br/><br/> Risks Related to Corporate and Securities Laws in Emerging Markets. Securities laws in emerging markets may be relatively new and unsettled and, consequently, there is a risk of rapid and unpredictable change in laws regarding foreign investment, securities regulation, title to securities and shareholder rights.<br/><br/> <b>Small- and Mid-Cap Company Securities Risk.</b> Investments in small- and mid-cap companies often involve greater risks than investments in larger, more established companies because small- and mid-cap companies tend to have less predictable earnings and may lack the management experience, financial resources, product diversification and competitive strengths of larger companies. Securities of small- and mid-cap companies may be less liquid and more volatile than the securities of larger companies.<br/><br/> <b>Large-Cap Company Securities Risk</b>. Larger, more established companies may be unable to respond quickly to new competitive challenges, such as changes in consumer tastes or innovative smaller competitors. Also, large-cap companies are sometimes unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion.<br/><br/> <b>Issuer Risk.</b> An issuer in which the Fund invests may perform poorly, and the value of its securities may therefore decline, which may negatively affect the Fund&#8217;s performance. Underperformance may be caused by poor management decisions, competitive pressures, breakthroughs in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent disclosures, natural disasters or other events, conditions or factors.<br/><br/> <b>Market Risk.</b> The market values of securities or other investments that the Fund holds will fall, sometimes rapidly or unpredictably, or fail to rise. An investment in the Fund could lose money over short or long periods.<br/><br/> <b>Foreign Currency Risk.</b> The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar, particularly if the Fund invests a significant percentage of its assets in foreign securities or other assets denominated in currencies other than the U.S. dollar.<br/><br/> <b>Geographic Focus Risk.</b> The Fund may be particularly susceptible to economic, political, regulatory or other events or conditions affecting issuers and countries within the specific geographic regions in which the Fund invests. The Fund&#8217;s NAV may be more volatile than the NAV of a more geographically diversified fund.<br/><br/> Asia Pacific Region. Many of the countries in the Asia Pacific region are considered underdeveloped or developing, including from a political, economic and/or social perspective, and may have relatively unstable governments and economies based on limited business, industries and/or natural resources or commodities. Events in any one country within the region may impact other countries in the region or the region as a whole. As a result, events in the region will generally have a greater effect on the Fund than if the Fund were more geographically diversified. This could result in increased volatility in the value of the Fund&#8217;s investments and losses for the Fund. Also, securities of some companies in the region can be less liquid than U.S. or other foreign securities, potentially making it difficult for the Fund to sell such securities at a desirable time and price.<br/><br/> Europe. The Fund is particularly susceptible to economic, political, regulatory or other events or conditions affecting issuers and countries in Europe. In addition, the private and public sectors&#8217; debt problems of a single European Union (EU) country can pose significant economic risks to the EU as a whole. As a result, the Fund&#8217;s NAV may be more volatile than the NAV of a more geographically diversified fund. If securities of issuers in Europe fall out of favor, it may cause the Fund to underperform other funds that do not focus their investments in this region of the world. The United Kingdom (UK) was scheduled to give notice of its plans to leave the EU (commonly known as "Brexit") effective March 30, 2019, but that deadline was extended by the EU while the British Parliament considers ratification of the withdrawal agreement, and the future and full impact of Brexit remain uncertain. During this period and beyond, the impact of any partial or complete dissolution of the EU on the UK and European economies and the broader global economy could be significant, resulting in negative impacts on currency and financial markets generally, such as increased volatility and illiquidity, and potentially lower economic growth in markets in Europe, which may adversely affect the value of your investment in the Fund. <br/><br/> <b>Growth Securities Risk.</b> Growth securities typically trade at a higher multiple of earnings than other types of equity securities. Accordingly, the&nbsp;market&nbsp;values&nbsp;of growth securities may never reach their expected market value and may decline in price. In addition, growth securities, at times, may not perform as well as value securities or the stock market in general, and may be out of favor with investors for varying periods of time. <b>Performance Information </b> The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund&#8217;s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund&#8217;s returns for the periods shown with those of the MSCI ACWI ex USA Growth Index (Net), the Fund's primary benchmark, and those of the MSCI ACWI ex USA Index (Net), the Fund's secondary benchmark. The MSCI ACWI ex USA Growth Index (Net) captures large- and mid-cap securities exhibiting overall growth style characteristics across 22 developed markets countries and 24 emerging markets countries. The MSCI ACWI ex USA Index (Net) captures large- and mid-cap representation across 22 of 23 developed market countries (excluding the United States) and 24 emerging markets countries. As of March 31, 2019, the MSCI ACWI ex USA Index (Net) had 2,184 constituents and covered approximately 85% of the global equity opportunity set outside the United States. Effective May 1, 2019, the MSCI ACWI ex USA Growth Index (Net) became the Fund&#8217;s primary benchmark; prior to May 1, 2019, this index was the Fund&#8217;s secondary benchmark. Also effective May 1, 2019, the MSCI ACWI ex USA Index (Net) became the Fund&#8217;s secondary benchmark; prior to May 1, 2019 this index was the Fund&#8217;s primary benchmark. The Investment Manager switched the Fund&#8217;s primary and secondary benchmarks because the Investment Manager believes that the Fund&#8217;s portfolio more closely aligns with the MSCI ACWI ex USA Growth Index (Net). The Investment Manager believes that the MSCI ACWI ex USA Index (Net) continues to provide a meaningful additional basis for comparing the Fund's performance because the Fund&#8217;s portfolio will generally be closely aligned with the index from an investment style perspective. <br/><br/> The performance of one or more share classes shown in the Average Annual Total Returns table below includes the Fund&#8217;s Class Inst share returns (adjusted to reflect the higher class-related operating expenses of such classes, where applicable) for periods prior to the indicated inception date of such share classes. Except for differences in fees and expenses, all share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities. <br/><br/> The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. Your actual after-tax returns will depend on your personal tax situation and may differ from those shown in the table. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class Inst shares and will vary for other share classes. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares. <br/><br/> <b>The Fund&#8217;s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future.</b> Updated performance information can be obtained by calling toll-free 800.345.6611 or visiting columbiathreadneedleus.com. <b>Year by Year Total Return (%)<br/>as of December 31 Each Year</b> <b>Best and Worst Quarterly Returns</b><br/><b>During the Period Shown in the Bar Chart</b><br/><br/>Best &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2nd Quarter 2009&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23.44%<br/><br/>Worst&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4th Quarter 2018&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp; -15.84% <b>Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2018)</b> You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 26 of the Fund&#8217;s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1. This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. Other expenses have been restated to reflect current transfer agency fees paid by the Fund. "Total annual Fund operating expenses" include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses. April 30, 2020 There is no assurance that the Fund will achieve its investment objective and you may lose money. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund&#8217;s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund&#8217;s returns for the periods shown with those of the MSCI ACWI ex USA Growth Index (Net), the Fund's primary benchmark, and those of the MSCI ACWI ex USA Index (Net), the Fund's secondary benchmark. The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class Inst shares and will vary for other share classes. <b>The Fund&#8217;s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future.</b> 800.345.6611 columbiathreadneedleus.com 2000-10-16 2012-11-08 2000-10-16 2011-08-02 2011-08-02 2012-11-08 Year to Date return 2019-03-31 Best 2009-06-30 Worst 2011-09-30 1998-11-23 1998-11-23 1998-11-23 <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleAnnualFundOperatingExpenses000053 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleExpenseExampleNoRedemptionTransposed000055 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleExpenseExampleTransposed000054 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleAverageAnnualTotalReturnsTransposed000057 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleShareholderFees000052 column period compact * ~</div> SUMMARY OF THE FUND <b>Investment Objective </b> Columbia Acorn Select<sup>SM</sup> (the Fund) seeks long-term capital appreciation. <b>Fees and Expenses of the Fund </b> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. An investor transacting in a class of Fund shares without any front-end sales charge, contingent deferred sales charge, or other asset-based fee for sales or distribution may be required to pay a commission to the financial intermediary for effecting such transactions. Such commission rates are set by the financial intermediary and are not reflected in the tables or the example below. You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 24 of the Fund&#8217;s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1. <b>Shareholder Fees (fees paid directly from your investment) </b> <b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) </b> <b>Example </b> 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:<ul type ="square"><li>you invest $10,000 in the applicable class of Fund shares for the periods indicated,</li></ul><ul type ="square"><li> your investment has a 5% return each year, and</li></ul><ul type ="square"><li>the Fund&#8217;s total annual operating expenses remain the same as shown in the Annual Fund Operating Expenses table above.</li></ul>Since the waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire as indicated in the preceding table, they are only reflected in the 1 year example and the first year of the other examples. Although your actual costs may be higher or lower, based on the assumptions listed above, your costs would be: <b>Portfolio Turnover </b> The Fund may pay transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs&nbsp;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&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 60% of the average value of its portfolio. <b>Principal Investment Strategies </b> Under normal circumstances, the Fund (i) invests a majority of its net assets in the common stock of small- and mid-sized companies with market capitalizations under $20 billion at the time of initial investment (&#8220;Focus Stocks&#8221;) and (ii) may also invest in companies with market capitalizations above $20 billion, provided that immediately after that investment a majority of the Fund&#8217;s net assets would be invested in Focus Stocks. The Fund may continue to hold, and make additional investments in, Focus Stocks whose market capitalizations have grown to exceed $20 billion, regardless of whether the Fund&#8217;s investments in Focus Stocks are a majority of the Fund&#8217;s net assets.<br /><br />Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Investment Manager), believes that stocks of small- and mid-sized companies, which generally are not as well known by financial analysts as larger companies, may offer higher return potential than stocks of larger companies.<br /><br />The Fund invests the majority of its assets in U.S. companies, but also may invest up to 20% of its total assets in foreign companies in developed markets (for example, Japan, Canada and the United Kingdom). A portion of the Fund&#8217;s foreign exposure may also include companies in emerging markets (for example, China, India and Colombia).<br /><br />The Fund also may invest up to 20% of its net assets in real estate investment trusts.<br /><br />The Fund invests in a limited number of companies (generally between 20-40), offering the potential to provide above-average appreciation over time. In pursuit of the Fund's objective, the portfolio managers take advantage of the research and stock-picking capabilities of the Investment Manager. The Investment Manager seeks to select investments which offer the best combination of risk and return. The Investment Manager's efforts are generally focused on sectors, industries and companies which provide higher expected growth than the overall U.S. economy. <br /><br />The Investment Manager typically seeks companies with:<ul type="square"><li>A strong business franchise that offers growth potential.</li></ul><ul type="square"><li>Products and services in which the company has a competitive advantage.</li></ul><ul type="square"><li>A stock price the Investment Manager believes is reasonable relative to the assets and earning power of the company.</li></ul>The Investment Manager may sell a portfolio holding if the security reaches the Investment Manager's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Investment Manager believes other securities are more attractive. The Investment Manager also may sell a portfolio holding to fund redemptions. <b>Principal Risks </b> An investment in the Fund involves risks, including those described below. There is no assurance that the Fund will achieve its investment objective and you may lose money. The value of the Fund&#8217;s holdings may decline, and the Fund&#8217;s net asset value (NAV) and share price may go down. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. <br/><br/> <b>Select Portfolio Risk. </b> Because the Fund may invest in a limited number of companies, the Fund as a whole is subject to greater risk of loss if any of its portfolio securities decline in price. The Fund accordingly may be more susceptible to economic, political and regulatory developments than a fund that invests in a greater number of companies. In addition, the Fund&#8217;s holdings and weightings will diverge significantly from its primary benchmark&#8217;s holdings and weightings and the Fund may therefore experience greater risk and volatility relative to the benchmark. Because the Fund may invest in more than one company concentrated in a similar industry, sector or geographic region, the Fund may be even more concentrated than the number of companies it may hold would suggest.<br/><br/> <b>Active Management Risk.</b> The Investment Manager&#8217;s active management of the Fund could cause the Fund to underperform its benchmark index and/or other funds with similar investment objectives and/or strategies.<br/><br/> <b>Market Risk.</b> The market values of securities or other investments that the Fund holds will fall, sometimes rapidly or unpredictably, or fail to rise. An investment in the Fund could lose money over short or long periods.<br/><br/> <b>Small- and Mid-Cap Company Securities Risk.</b> Investments in small- and mid-cap companies often involve greater risks than investments in larger, more established companies because small- and mid-cap companies tend to have less predictable earnings and may lack the management experience, financial resources, product diversification and competitive strengths of larger companies. Securities of small- and mid-cap companies may be less liquid and more volatile than the securities of larger companies.<br/><br/> <b>Issuer Risk.</b> An issuer in which the Fund invests may perform poorly, and the value of its securities may therefore decline, which may negatively affect the Fund&#8217;s performance. Underperformance may be caused by poor management decisions, competitive pressures, breakthroughs in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent disclosures, natural disasters or other events, conditions or factors.<br/><br/> <b>Growth Securities Risk.</b> Growth securities typically trade at a higher multiple of earnings than other types of equity securities. Accordingly, the&nbsp;market&nbsp;values&nbsp;of growth securities may never reach their expected market value and may decline in price. In addition, growth securities, at times, may not perform as well as value securities or the stock market in general, and may be out of favor with investors for varying periods of time.<br/><br/> <b>Sector Risk.</b> At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business within one or more economic sectors. Companies in the&nbsp;same sector may be similarly affected by economic, regulatory, political or market events or conditions, which may make the Fund more vulnerable to unfavorable developments in that sector than funds that invest more broadly. Generally, the more the Fund diversifies its investments, the more it spreads risk and potentially reduces the risks of loss and volatility.<br/><br/> Information Technology and Technology-Related Sectors. The Fund may be more susceptible to the particular risks that may affect companies in the information technology sector, as well as other technology-related sectors (collectively, the technology sectors) than if it were invested in a wider variety of companies in unrelated sectors. Companies in the technology sectors are subject to certain risks, including the risk that new services, equipment or technologies will not be accepted by consumers and businesses or will become rapidly obsolete. Performance of such companies may be affected by factors including obtaining and protecting patents (or the failure to do so) and significant competitive pressures, including aggressive pricing of their products or services, new market entrants, competition for market share and short product cycles due to an accelerated rate of technological developments.<br/><br/> Such competitive pressures may lead to limited earnings and/or falling profit margins. As a result, the value of their securities may fall or fail to rise. In addition, many technology sector companies have limited operating histories and prices of these companies&#8217; securities historically have been more volatile than other securities, especially over the short term. <br/><br/> Health Care Sector. The Fund may be more susceptible to the particular risks that may affect companies in the health care sector than if it were invested in a wider variety of companies in unrelated sectors. Companies in the health care sector are subject to certain risks, including restrictions on government reimbursement for medical expenses, government approval of medical products and services, competitive pricing pressures, and the rising cost of medical products and services (especially for companies dependent upon a relatively limited number of products or services). Performance of such companies may be affected by factors including, government regulation, obtaining and protecting patents (or the failure to do so), product liability and other similar litigation as well as product obsolescence.<br/><br/> Consumer Discretionary Sector. The Fund may be more susceptible to the particular risks that may affect companies in the consumer discretionary sector than if it were invested in a wider variety of companies in unrelated sectors. Companies in the consumer discretionary sector are subject to certain risks, including fluctuations in the performance of the overall domestic and international economy, interest rate changes, increased competition and consumer confidence. Performance of such companies may be affected by factors including reduced disposable household income, reduced consumer spending, changing demographics and consumer tastes.<br/><br/> <b>Foreign Securities Risk.</b> Investments in or exposure to foreign securities involve certain risks not associated with investments in or exposure to securities of U.S. companies. Foreign securities subject the Fund to the risks associated with investing in the particular country of an issuer, including political, regulatory, economic, social, diplomatic and other conditions or events (including, for example, military confrontations, war and terrorism), occurring in the country or region, as well as risks associated with less developed custody and settlement practices. Foreign securities may be more volatile and less liquid than securities of U.S. companies, and are subject to the risks associated with potential imposition of economic and other sanctions against a particular foreign country, its nationals or industries or businesses within the country. In addition, foreign governments may impose withholding or other taxes on the Fund&#8217;s income, capital gains or proceeds from the disposition of foreign securities, which could reduce the Fund&#8217;s return on such securities.<br/><br/> Operational and Settlement Risks of Foreign Securities. The Fund&#8217;s foreign securities are generally held outside the United States in the primary market for the securities in the custody of foreign sub-custodians. Some countries have limited governmental oversight and regulation, which increases the risk of corruption and fraud and the possibility of losses to the Fund. In particular, under certain circumstances, foreign securities may settle on a delayed delivery basis, meaning that the Fund may be required to make payment for securities before the Fund has actually received delivery of the securities or deliver securities prior to the receipt of payment. As a result, there is a risk that the security will not be delivered to the Fund or that payment will not be received. Losses can also result from lost, stolen or counterfeit securities; defaults by brokers and banks; failures or defects of the settlement system; or poor and improper record keeping by registrars and issuers.<br/><br/> Share Blocking. In certain non-U.S. markets, an issuer&#8217;s securities are blocked from trading for a specified number of days before and, in certain instances, after a shareholder meeting. The blocking period can last up to several weeks. Share blocking may prevent the Fund from buying or selling securities during this period. As a consequence of these restrictions, the Investment Manager, on behalf of the Fund, may abstain from voting proxies in markets that require share blocking.<br/><br/> <b>Emerging Market Securities Risk.</b> Securities issued by foreign governments or companies in emerging market countries,&nbsp;such as&nbsp;China, Russia and certain countries 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 changes or developments in social, political, economic or other conditions. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity (i.e., lower trading volumes and less liquidity) 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 and have fewer trading partners, which makes them more sensitive to world commodity prices and economic downturns in other countries, and some have a higher risk of currency devaluations. <br/><br/>Operational and Settlement Risks of Securities in Emerging Markets. Foreign sub-custodians in emerging markets may be recently organized, lack extensive operating experience or lack effective government oversight or regulation. In addition, there may be legal restrictions or limitations on the ability of the Fund to recover assets held in custody by a foreign sub-custodian in the event of the bankruptcy of the sub-custodian. There may also be a greater risk that settlement may be delayed and that cash or securities of the Fund may be lost because of failures of or defects in the system, including fraud or corruption. Settlement systems in emerging markets also have a higher risk of failed trades.<br/><br/> Risks Related to Currencies and Corporate Actions in Emerging Markets. Risks related to currencies and corporate actions are also greater in emerging market countries than in developed countries. Emerging market currencies may not have an active trading market and are subject to a higher risk of currency devaluations.<br/><br/> Risks Related to Corporate and Securities Laws in Emerging Markets. Securities laws in emerging markets may be relatively new and unsettled and, consequently, there is a risk of rapid and unpredictable change in laws regarding foreign investment, securities regulation, title to securities and shareholder rights.<br/><br/> <b>Liquidity and Trading Volume Risk. </b> Because the Fund may invest a percentage of its assets in foreign securities, it may be subject to the liquidity and trading volume risks associated with international investing. Due to market conditions, including uncertainty regarding the price of a security, it may be difficult for the Fund to buy or sell foreign portfolio securities at a desirable time or price, which could result in investment losses and may affect the value of your investment in the Fund. This risk of portfolio illiquidity is heightened with respect to small- and mid-cap securities, generally, and foreign small- and mid-cap securities in particular. The Fund may have to lower the selling price, liquidate other investments, or forego another, more appealing investment opportunity as a result of illiquidity in the markets. The Fund may also be limited in its ability to execute favorable trades in foreign portfolio securities in response to changes in share prices and fundamentals, and may be forced to dispose of securities under disadvantageous circumstances and at a loss. As the Fund grows in size or, conversely, if it faces significant redemption pressure, these considerations take on increasing significance and may adversely impact performance.<br/><br/> <b>Foreign Currency Risk.</b> The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar, particularly if the Fund invests a significant percentage of its assets in foreign securities or other assets denominated in currencies other than the U.S. dollar.<br/><br/> <b>Real Estate-Related Investment Risk.</b> Investments in real estate investment trusts (REITs) and in securities of other companies (wherever organized) principally engaged in the real estate industry subject the Fund to, among other things, risks similar to those of direct investments in real estate and the real estate industry in general. These include risks related to general and local economic conditions, possible lack of availability of financing and changes in interest rates or property values. The value of interests in a REIT may be affected by, among other factors, changes in the value of the underlying properties owned by the REIT, changes in the prospect for earnings and/or cash flow growth of the REIT itself, defaults by borrowers or tenants, market saturation, decreases in market rates for rents, and other economic, political, or regulatory matters affecting the real estate industry, including REITs. REITs may be subject to more abrupt or erratic price movements than the overall securities markets. REITs are also subject to the risk of failing to qualify for favorable tax treatment under the Internal Revenue Code of 1986, as amended. The failure of a REIT to continue to qualify as a REIT for tax purposes can materially and adversely affect its value. Some REITs (especially mortgage REITs) are affected by risks similar to those associated with investments in debt securities including changes in interest rates and the quality of credit extended. <b>Performance Information </b> The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund&#8217;s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund&#8217;s returns for the periods shown with the Russell 2500 Growth Index. <br/><br/> The performance of one or more share classes shown in the Average Annual Total Returns table below includes the Fund&#8217;s Class Inst share returns (adjusted to reflect the higher class-related operating expenses of such classes, where applicable) for periods prior to the indicated inception date of such share classes. Except for differences in fees and expenses, all share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities. <br/><br/> The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. Your actual after-tax returns will depend on your personal tax situation and may differ from those shown in the table. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class Inst shares and will vary for other share classes. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares. <br/><br/> <b>The Fund&#8217;s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future.</b> Updated performance information can be obtained by calling toll-free 800.345.6611 or visiting columbiathreadneedleus.com. <b>Year by Year Total Return (%)<br/>as of December 31 Each Year</b> <b>Best and Worst Quarterly Returns<br/>During the Period Shown in the Bar Chart</b><br/><br/>Best&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2nd Quarter 2009 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.11%<br/><br/>Worst&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3rd Quarter 2011&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-23.54% <b>Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2018)</b> You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 24 of the Fund&#8217;s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1. This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. Other expenses have been restated to reflect current transfer agency fees paid by the Fund. &#8220;Total annual Fund operating expenses&#8221; include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses. April 30, 2020 There is no assurance that the Fund will achieve its investment objective and you may lose money. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund&#8217;s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund&#8217;s returns for the periods shown with the Russell 2500 Growth Index. The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class Inst shares and will vary for other share classes. <b>The Fund&#8217;s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future.</b> 800.345.6611 columbiathreadneedleus.com 2000-10-16 2012-11-08 2000-10-16 2012-11-08 2012-11-08 Year to Date return 2019-03-31 Best 2009-06-30 Worst 2018-12-31 1998-11-23 1998-11-23 1998-11-23 2000-10-16 <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleAnnualFundOperatingExpenses000063 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleExpenseExampleNoRedemptionTransposed000065 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleExpenseExampleTransposed000064 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleAverageAnnualTotalReturnsTransposed000067 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleShareholderFees000062 column period compact * ~</div> SUMMARY OF THE FUND <b>Investment Objective </b> Columbia Acorn USA<sup>&#174;</sup> (the Fund) seeks long-term capital appreciation. <b>Fees and Expenses of the Fund </b> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. An investor transacting in a class of Fund shares without any front-end sales charge, contingent deferred sales charge, or other asset-based fee for sales or distribution may be required to pay a commission to the financial intermediary for effecting such transactions. Such commission rates are set by the financial intermediary and are not reflected in the tables or the example below. You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 19 of the Fund&#8217;s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1. <b>Shareholder Fees (fees paid directly from your investment) </b> <b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) </b> <b>Example </b> 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:<ul type="square"><li>you invest $10,000 in the applicable class of Fund shares for the periods indicated,</li></ul><ul type="square"><li>your investment has a 5% return each year, and</li></ul><ul type="square"><li>the Fund&#8217;s total annual operating expenses remain the same as shown in the Annual Fund Operating Expenses table above.</li></ul>Since the waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire as indicated in the preceding table, they are only reflected in the 1 year example and the first year of the other examples. Although your actual costs may be higher or lower, based on the assumptions listed above, your costs would be: <b>Portfolio Turnover </b> The Fund may pay transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs&nbsp;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&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 86% of the average value of its portfolio. <b>Principal Investment Strategies </b> Under normal circumstances, the Fund invests at least 80% of its net assets (including the amount of any borrowings for investment purposes) in U.S. companies. <br /><br />Under normal circumstances, the Fund (i) 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 initial investment (&#8220;Focus Stocks&#8221;) and (ii) may also invest in companies with market capitalizations above $5 billion, provided that immediately after that investment a majority of the Fund&#8217;s net assets would be invested in Focus Stocks. The Fund may continue to hold, and make additional investments in, Focus Stocks whose market capitalizations have grown to exceed $5 billion, regardless of whether the Fund&#8217;s investments in Focus Stocks are a majority of the Fund&#8217;s net assets. <br /><br />Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Investment Manager), believes that stocks of small- and mid-sized companies, which generally are not as well known by financial analysts as larger companies, may offer higher return potential than stocks of larger companies. <br /><br />The Investment Manager typically seeks companies with:<ul type="square"><li>A strong business franchise that offers growth potential.</li></ul><ul type="square"><li>Products and services in which the company has a competitive advantage.</li></ul><ul type="square"><li>A stock price the Investment Manager believes is reasonable relative to the assets and earning power of the company.</li></ul>The Investment Manager may sell a portfolio holding if the security reaches the Investment Manager's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Investment Manager believes other securities are more attractive. The Investment Manager also may sell a portfolio holding to fund redemptions. <b>Principal Risks </b> An investment in the Fund involves risks, including those described below. There is no assurance that the Fund will achieve its investment objective and you may lose money. The value of the Fund&#8217;s holdings may decline, and the Fund&#8217;s net asset value (NAV) and share price may go down. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. <br/><br/> <b>Active Management Risk.</b> The Investment Manager&#8217;s active management of the Fund could cause the Fund to underperform its benchmark index and/or other funds with similar investment objectives and/or strategies.<br/><br/> <b>Market Risk.</b> The market values of securities or other investments that the Fund holds will fall, sometimes rapidly or unpredictably, or fail to rise. An investment in the Fund could lose money over short or long periods.<br/><br/> <b>Small- and Mid-Cap Company Securities Risk.</b> Investments in small- and mid-cap companies often involve greater risks than investments in larger, more established companies because small- and mid-cap companies tend to have less predictable earnings and may lack the management experience, financial resources, product diversification and competitive strengths of larger companies. Securities of small- and mid-cap companies may be less liquid and more volatile than the securities of larger companies.<br/><br/> <b>Issuer Risk.</b> An issuer in which the Fund invests may perform poorly, and the value of its securities may therefore decline, which may negatively affect the Fund&#8217;s performance. Underperformance may be caused by poor management decisions, competitive pressures, breakthroughs in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent disclosures, natural disasters or other events, conditions or factors.<br/><br/> <b>Growth Securities Risk.</b> Growth securities typically trade at a higher multiple of earnings than other types of equity securities. Accordingly, the&nbsp;market&nbsp;values&nbsp;of growth securities may never reach their expected market value and may decline in price. In addition, growth securities, at times, may not perform as well as value securities or the stock market in general, and may be out of favor with investors for varying periods of time.<br/><br/> <b>Sector Risk.</b> At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business within one or more economic sectors. Companies in the&nbsp;same sector may be similarly affected by economic, regulatory, political or market events or conditions, which may make the Fund more vulnerable to unfavorable developments in that sector than funds that invest more broadly. Generally, the more the Fund diversifies its investments, the more it spreads risk and potentially reduces the risks of loss and volatility.<br/><br/> Information Technology and Technology-Related Sectors. The Fund may be more susceptible to the particular risks that may affect companies in the information technology sector, as well as other technology-related sectors (collectively, the technology sectors) than if it were invested in a wider variety of companies in unrelated sectors. Companies in the technology sectors are subject to certain risks, including the risk that new services, equipment or technologies will not be accepted by consumers and businesses or will become rapidly obsolete. Performance of such companies may be affected by factors including obtaining and protecting patents (or the failure to do so) and significant competitive pressures, including aggressive pricing of their products or services, new market entrants, competition for market share and short product cycles due to an accelerated rate of technological developments. Such competitive pressures may lead to limited earnings and/or falling profit margins. As a result, the value of their securities may fall or fail to rise. In addition, many technology sector companies have limited operating histories and prices of these companies&#8217; securities historically have been more volatile than other securities, especially over the short term.<br/><br/> Health Care Sector. The Fund may be more susceptible to the particular risks that may affect companies in the health care sector than if it were invested in a wider variety of companies in unrelated sectors. Companies in the health care sector are subject to certain risks, including restrictions on government reimbursement for medical expenses, government approval of medical products and services, competitive pricing pressures, and the rising cost of medical products and services (especially for companies dependent upon a relatively limited number of products or services). Performance of such companies may be affected by factors including, government regulation, obtaining and protecting patents (or the failure to do so), product liability and other similar litigation as well as product obsolescence. <b>Performance Information </b> The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund&#8217;s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund&#8217;s returns for the periods shown with the Russell 2000 Growth Index. <br/><br/> The performance of one or more share classes shown in the Average Annual Total Returns table below includes the Fund&#8217;s Class Inst share returns (adjusted to reflect the higher class-related operating expenses of such classes, where applicable) for periods prior to the indicated inception date of such share classes. Except for differences in fees and expenses, all share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities. <br/><br/> The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. Your actual after-tax returns will depend on your personal tax situation and may differ from those shown in the table. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class Inst shares and will vary for other share classes. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares. <br/><br/> <b>The Fund&#8217;s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future.</b> Updated performance information can be obtained by calling toll-free 800.345.6611 or visiting columbiathreadneedleus.com. <b>Year by Year Total Return (%) <br/>as of December 31 Each Year</b> <b>Best and Worst Quarterly Returns<br/>During the Period Shown in the Bar Chart</b><br/><br/>Best&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3rd Quarter 2009 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.55%<br/><br/>Worst&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3rd Quarter 2011&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-22.20% <b>Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2018) </b> You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 19 of the Fund&#8217;s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1. This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. Other expenses have been restated to reflect current transfer agency fees paid by the Fund. April 30, 2020 There is no assurance that the Fund will achieve its investment objective and you may lose money. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund&#8217;s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund&#8217;s returns for the periods shown with the Russell 2000 Growth Index. The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class Inst shares and will vary for other share classes. <b>The Fund&#8217;s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future.</b> 800.345.6611 columbiathreadneedleus.com 2012-11-08 2000-10-16 2012-11-08 2012-11-08 Year to Date return 2019-03-31 Best 2009-06-30 Worst 2011-09-30 1996-09-04 1996-09-04 1996-09-04 2000-10-16 2012-11-08 2000-10-16 <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleAnnualFundOperatingExpenses000073 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleExpenseExampleNoRedemptionTransposed000075 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleExpenseExampleTransposed000074 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleAverageAnnualTotalReturnsTransposed000077 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleShareholderFees000072 column period compact * ~</div> SUMMARY OF THE FUND <b>Investment Objective </b> Columbia&nbsp;Thermostat Fund<sup>SM</sup> (the Fund) seeks long-term capital appreciation. <b>Fees and Expenses of the Fund </b> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. An investor transacting in a class of Fund shares without any front-end sales charge, contingent deferred sales charge, or other asset-based fee for sales or distribution may be required to pay a commission to the financial intermediary for effecting such transactions. Such commission rates are set by the financial intermediary and are not reflected in the tables or the example below. You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 55 of the Fund&#8217;s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1. <b>Shareholder Fees (fees paid directly from your investment) </b> <b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) </b> <b>Example </b> 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:<ul type="square"><li>you invest $10,000 in the applicable class of Fund shares for the periods indicated,</li></ul><ul type="square"><li>your investment has a 5% return each year, and</li></ul><ul type="square"><li>the Fund&#8217;s total annual operating expenses remain the same as shown in the Annual Fund Operating Expenses table above.</li></ul>Since the waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire as indicated in the preceding table, they are only reflected in the 1 year example and the first year of the other examples. Although your actual costs may be higher or lower, based on the assumptions listed above, your costs would be: <b>Portfolio Turnover </b> The Fund will indirectly bear the expenses associated with portfolio turnover of the underlying Portfolio Funds in which the Fund invests. Each Portfolio Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A Portfolio Fund&#8217;s higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when its 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&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 122% of the average value of its portfolio. <b>Principal Investment Strategies </b> The Fund is primarily managed as a fund that invests in other funds (i.e., a "fund-of-funds") that seeks to achieve its investment objective by investing its assets among a selected group of underlying stock and bond mutual funds and exchanged-traded funds (ETFs) for which Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Investment Manager) or its affiliates, including Columbia Management Investment Advisers, LLC (Columbia Management), serves as investment adviser or principal underwriter (the Portfolio Funds). Under normal circumstances, the Fund allocates at least 95% of its net assets (stock/bond assets) among the Portfolio Funds according to an asset allocation table based on the current level of Standard &amp; Poor's (S&amp;P) 500<sup>&#174;</sup> Index. <br/><br/> Generally, the Fund's allocation to stock funds increases as the S&amp;P 500<sup>&#174;</sup> Index declines and decreases as the S&amp;P 500<sup>&#174;</sup> Index rises. When the S&amp;P 500<sup>&#174;</sup> Index goes up in relation to trading range bands that are predetermined by the Investment Manager, the Fund sells a portion of its stock Portfolio Funds and invests more in the bond Portfolio Funds, and when the S&amp;P 500<sup>&#174;</sup> Index goes down in relation to the predetermined bands, the Fund increases its investment in the stock Portfolio Funds. Under normal circumstances, the Fund may invest up to 5% of net assets plus any cash received that day in cash, high quality short-term paper and government securities. <br/><br/> Although many asset allocation funds follow a basic approach of moving assets from stocks to bonds when the equity market goes up, and from bonds to stocks when the equity market goes down, some are run by investment managers who allocate fund assets by making subjective decisions based on complicated economic and financial models and complex graphs of market behavior. By contrast, the day-to-day investment decisions for the Fund are made according to a single predetermined allocation table set forth below. The temperature in your house is run by a single rule: your thermostat turns on the furnace if your house is too cold or turns on the air conditioner if your house is too warm. This Fund works the same way, so it is named Columbia Thermostat Fund.<br/><br/> Just as a thermostat may be set at different ranges for different seasons, the structure and allocation ranges of the Fund's asset allocation table may be changed from time to time between two forms, based on the Investment Manager's determination of whether it expects the equity market to be moving over the next year in a side-ways or non-directional pattern, which the Investment Manager terms an "expensive" market, or to be trending upward, which the Investment Manager terms a "normal" market. The Investment Manager's process and methodology for determining whether the current market is "expensive" or "normal" and the structure of each form of allocation table are described in more detail below under Determination of Current Market State. Such determination will be made on at least an annual basis and will be reflected in the asset allocation table disclosed in this prospectus. In general, the two different forms of allocation table are intended to maximize the capture of value under the two different sets of market conditions.<br/><br/> The Fund's current asset allocation table, which is set forth below, reflects the Investment Manager's determination that the equity market is currently "expensive." The structure of the Fund's current allocation table reflects the same form that has been in place since the Fund's inception in 2002. <br /><br /><table style="border-collapse:collapse;empty-cells:show;margin-top:5pt;width:98.84%;" cellpadding="0" cellspacing="0"> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:bold;line-height:11pt;padding-bottom:5pt;padding-left:6pt;padding-right:12pt;padding-top:3pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:98.82%;" colspan="3">Stock/Bond Allocation Table </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;padding-bottom:4.5pt;padding-right:6pt;padding-top:4.5pt;text-align:left;vertical-align:bottom;width:77.95%;">&nbsp; </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:bold;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:20.87%;" colspan="2">How the Fund will Invest<br/> the Stock/Bond Assets </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:bold;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;">Level of the<br/> S&amp;P 500<sup>&#174;</sup> Index </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:bold;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:10.44%;">Stock <br/> Percentage </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:bold;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:10.44%;">Bond <br/> Percentage </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >over 3487 </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >10% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >90% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >over 3353 &#150; 3487 </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >15% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >85% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >over 3224 &#150; 3353 </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >20% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >80% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >over 3100 &#150; 3224 </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >25% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >75% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >over 2981 &#150; 3100 </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >30% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >70% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >over 2866 &#150; 2981 </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >35% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >65% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >over 2756 &#150; 2866 </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >40% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >60% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >over 2650 &#150; 2756 </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >45% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >55% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >over 2546 &#150; 2650 </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >50% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >50% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >over 2444 &#150; 2546 </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >55% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >45% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >over 2346 &#150; 2444 </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >60% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >40% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >over 2252 &#150; 2346 </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >65% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >35% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >over 2162 &#150; 2252 </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >70% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >30% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >over 2076 &#150; 2162 </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >75% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >25% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >over 1993 &#150; 2076 </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >80% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >20% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >over 1913 &#150; 1993 </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >85% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >15% </td></tr> <tr> <td style="font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:77.95%;" >1913 and under </td> <td style="font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >90% </td> <td style="font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >10% </td></tr></table><br /><br />When the S&amp;P 500<sup>&#174;</sup> Index moves into a new band on the table, the Fund will rebalance the stock/bond mix to reflect the new S&amp;P 500<sup>&#174;</sup> Index price level by redeeming shares of some Portfolio Funds and purchasing shares of other Portfolio Funds. Any such rebalancing typically will be implemented promptly. However, there are two circumstances when a rebalancing may be implemented over a longer timeline. First, when a rebalancing or allocation table change would trigger a 10% point or greater change in stock and bond allocations or individual Portfolio Funds, the rebalancing may be implemented over a period of up to two weeks, if deemed by the Investment Manager to be in the best interest of shareholders. The second exception is a "31-day Rule;" in order to reduce taxable events and minimize short-term trading if the S&amp;P 500<sup>&#174;</sup> Index price moves back and forth across a band in the allocation table, after the Fund has increased its percentage allocation to either stock funds or bond funds, it will not decrease that allocation for at least 31 days. Following a change in the Fund&#8217;s stock/bond mix, if the S&amp;P 500<sup>&#174;</sup> Index remains within the same band for a while, normal market fluctuations will change the values of the Fund&#8217;s holdings of stock Portfolio Funds and bond Portfolio Funds. The Investment Manager will invest cash flows from sales (or redemptions) of Fund shares to bring the stock/bond mix back toward the allocation percentages for that S&amp;P 500<sup>&#174;</sup> Index band. For example, if the S&amp;P 500<sup>&#174;</sup> Index is in the 2162 band, and the value of the holdings of the stock Portfolio Funds has dropped to 68% of the value of the holdings of all Portfolio Funds, the Investment Manager would invest new cash in the stock Portfolio Funds (or cash for redemptions would come from the bond Portfolio Funds) to restore the 70% stock allocation. If the 31-day Rule is in effect, the Investment Manager will invest new cash at the stock/bond percentage allocation as of the latest rebalancing.<br/><br/>As another illustrative example, suppose the following:<br /><br /> <table style="border-collapse:collapse;empty-cells:show;margin-top:5pt;width:99.39%;" cellpadding="0" cellspacing="0"> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:bold;line-height:11pt;padding-bottom:5pt;padding-left:6pt;padding-right:9pt;padding-top:3pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:6.99%;">Date </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:bold;line-height:11pt;padding-bottom:5pt;padding-left:9pt;padding-right:9pt;padding-top:3pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:46.21%;">Level of the<br/> S&amp;P 500<sup>&#174;</sup> Index </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:bold;line-height:11pt;padding-bottom:5pt;padding-left:9pt;padding-right:6pt;padding-top:3pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:46.21%;">How the Fund will<br/> invest the Stock/<br/> Bond Assets(1) </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:9pt;padding-top:5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.99%;" >Nov. 1 </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:9pt;padding-right:9pt;padding-top:5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:46.21%;" >We begin when the market is 2600 </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:9pt;padding-right:6pt;padding-top:5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:46.21%;" >50% stocks, 50% bonds </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:9pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.99%;" >Dec. 1 </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:9pt;padding-right:9pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:46.21%;" >The S&amp;P 500<sup>&#174;</sup> goes to 2705 </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:9pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:46.21%;" >rebalance 45% stocks, 55% bonds </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:9pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.99%;" >Dec. 6 </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:9pt;padding-right:9pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:46.21%;" >The S&amp;P 500<sup>&#174;</sup> drops back to 2590 </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:9pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:46.21%;" >no reversal for 31 days </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:9pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.99%;" >Jan. 2 </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:9pt;padding-right:9pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:46.21%;" >The S&amp;P 500<sup>&#174;</sup> is at 2600 </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:9pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:46.21%;" >rebalance 50% stocks, 50% bonds </td></tr> <tr> <td style="font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2pt;padding-left:6pt;padding-right:9pt;padding-top:4.5pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.99%;" >Jan. 20 </td> <td style="font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2pt;padding-left:9pt;padding-right:9pt;padding-top:4.5pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:46.21%;" >The S&amp;P 500 drops to 2460 </td> <td style="font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2pt;padding-left:9pt;padding-right:6pt;padding-top:4.5pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:46.21%;" >Rebalance 55% stocks, 45% bonds(2)</td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:9pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:6.99%;" >Jan. 30 </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:9pt;padding-right:9pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:46.21%;" >The S&amp;P 500<sup>&#174;</sup> goes to 2575 </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:9pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:46.21%;" >no reversal for 31 days </td></tr> <tr> <td style="font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4pt;padding-left:6pt;padding-right:9pt;padding-top:4.5pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:6.99%;" >Feb. 20 </td> <td style="font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4pt;padding-left:9pt;padding-right:9pt;padding-top:4.5pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:46.21%;" >The S&amp;P 500<sup>&#174;</sup> is at 2565 </td> <td style="font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4pt;padding-left:9pt;padding-right:6pt;padding-top:4.5pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;width:46.21%;" >rebalance 50% stocks, 50% bonds </td></tr></table><div style="font-style:normal;font-weight:normal;line-height:9pt;margin-top:4pt;text-align:left;text-decoration:none;text-transform:none;"><sup>(1)</sup> For each rebalancing the Fund will trade the underlying stock and bond Portfolio Funds on the next business day.</div><div style="font-style:normal;font-weight:normal;line-height:9pt;margin-top:2pt;text-align:left;text-decoration:none;text-transform:none;"><sup>(2)</sup> The market has made a continuation move by going through a second action level, not a reversal move, so the 31-day Rule does not apply in this case.</div><br/>The Investment Manager chooses the Portfolio Funds to be generally consistent with the composition of the Fund&#8217;s primary stock and bond benchmarks and to allow the Fund to participate in strategies the Investment Manager believes can provide additional return due to active management.<br /><br />The following table shows the stock and bond Portfolio Funds that the Fund currently uses in its "fund-of-funds" structure and the current target percentage for each Portfolio Fund within the stock or bond asset class. As described more fully below, the Investment Manager may substitute or add additional Portfolio Funds at any time, including funds introduced after the date of this prospectus. The target percentage within each asset class category is achieved by rebalancing the investments within the asset class whenever the S&amp;P 500<sup>&#174;</sup> Index moves into a new band on the allocation table, subject to the 31-day Rule described above. The Fund will not liquidate its investment in one Portfolio Fund in order to invest in another Portfolio Fund except in connection with a rebalancing due to a move of the S&amp;P 500<sup>&#174;</sup> Index into a new band (or due to a change by the Investment Manager in the Portfolio Funds or to the relative target percentages among them). Until a subsequent rebalancing, the Fund's cash flows are invested in, or redeemed from, the Portfolio Funds in a manner that will reduce any deviation of the relative values of the Fund's holdings of the Portfolio Funds from the percentages shown below. <br /><br /> <table style="border-collapse:collapse;empty-cells:show;margin-top:5pt;width:98.84%;" cellpadding="0" cellspacing="0"> <tr style="page-break-inside:avoid;"> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:bold;line-height:11pt;padding-bottom:2.5pt;padding-left:6pt;padding-right:12pt;padding-top:3pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:98.82%;" colspan="3">Allocation of Stock/Bond Asset Within Asset Classes </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:2pt solid #ffffff;line-height:8pt;padding-bottom:2.5pt;padding-right:6pt;padding-top:2.5pt;text-align:left;vertical-align:bottom;width:44.12%;">&nbsp; </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:bold;line-height:11pt;padding-bottom:2.5pt;padding-left:6pt;padding-right:6pt;padding-top:2.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:45.30%;">Type of Fund </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:bold;line-height:11pt;padding-bottom:2.5pt;padding-left:6pt;padding-right:12pt;padding-top:2.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:9.41%;">Allocation </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:bold;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:6pt;padding-top:2.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:44.12%;">Stock Funds </td> <td style="border-bottom:2pt solid #ffffff;line-height:0pt;padding-bottom:2.25pt;padding-right:6pt;padding-top:2.5pt;text-align:left;vertical-align:bottom;width:45.30%;">&nbsp; </td> <td style="border-bottom:2pt solid #ffffff;line-height:0pt;padding-bottom:2.25pt;padding-right:12pt;padding-top:2.5pt;text-align:center;vertical-align:bottom;width:9.41%;">&nbsp; </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:6pt;padding-top:2.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:44.12%;" >Columbia Acorn<sup>&#174;</sup> Fund </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:6pt;padding-top:2.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:45.30%;" >Small/Mid-cap growth </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:12pt;padding-top:2.25pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:9.41%;" >10% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:6pt;padding-top:2.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:44.12%;" >Columbia Acorn International<sup>&#174;</sup> </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:6pt;padding-top:2.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:45.30%;" >Small/Mid-cap international growth </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:12pt;padding-top:2.25pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:9.41%;" >10% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:6pt;padding-top:2.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:44.12%;" >Columbia Acorn Select<sup>SM</sup> </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:6pt;padding-top:2.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:45.30%;" >Mid-cap growth </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:12pt;padding-top:2.25pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:9.41%;" >10% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:6pt;padding-top:2.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:44.12%;" >Columbia Contrarian Core Fund </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:6pt;padding-top:2.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:45.30%;" >Large-cap blend </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:12pt;padding-top:2.25pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:9.41%;" >10% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:6pt;padding-top:2.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:44.12%;" >Columbia Dividend Income Fund </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:6pt;padding-top:2.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:45.30%;" >Large-cap value </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:12pt;padding-top:2.25pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:9.41%;" >10% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:6pt;padding-top:2.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:44.12%;" >Columbia Large Cap Enhanced Core Fund </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:6pt;padding-top:2.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:45.30%;" >Large-cap blend </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:12pt;padding-top:2.25pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:9.41%;" >10% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:6pt;padding-top:2.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:44.12%;" >Columbia Large Cap Index Fund </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:6pt;padding-top:2.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:45.30%;" >Large-cap blend </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:12pt;padding-top:2.25pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:9.41%;" >40% </td> </tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:bold;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:6pt;padding-top:2.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:44.12%;" >Total </td> <td style="border-bottom:2pt solid #ffffff;line-height:0pt;padding-bottom:2.25pt;padding-right:6pt;padding-top:2.25pt;text-align:left;vertical-align:bottom;width:45.30%;" >&nbsp; </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:bold;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:12pt;padding-top:2.25pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:9.41%;" >100% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:2pt solid #ffffff;line-height:0pt;padding-bottom:2.25pt;padding-right:6pt;padding-top:2.25pt;text-align:left;vertical-align:bottom;width:44.12%;">&nbsp; </td> <td style="border-bottom:2pt solid #ffffff;line-height:0pt;padding-bottom:2.25pt;padding-right:6pt;padding-top:2.25pt;text-align:left;vertical-align:bottom;width:45.30%;">&nbsp; </td> <td style="border-bottom:2pt solid #ffffff;line-height:0pt;padding-bottom:2.25pt;padding-right:12pt;padding-top:2.25pt;text-align:center;vertical-align:bottom;width:9.41%;">&nbsp; </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:bold;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:6pt;padding-top:2.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:44.12%;">Bond Funds </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:bold;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:6pt;padding-top:2.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:45.30%;">Type of Fund </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:bold;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:12pt;padding-top:2.25pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:9.41%;">Allocation </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:6pt;padding-top:2.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:44.12%;" >Columbia Corporate Income Fund </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:6pt;padding-top:2.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:45.30%;" >Corporate bond </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:12pt;padding-top:2.25pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:9.41%;" >10% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:6pt;padding-top:2.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:44.12%;" >Columbia Diversified Fixed Income Allocation ETF </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:6pt;padding-top:2.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:45.30%;" >Beta advantage multi-sector bond </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:12pt;padding-top:2.25pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:9.41%;" >10% </td></tr><tr style="page-break-inside:avoid;"> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:6pt;padding-top:2.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:44.12%;" >Columbia Inflation Protected Securities Fund </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:6pt;padding-top:2.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:45.30%;" >Inflation-protected bond </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:12pt;padding-top:2.25pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:9.41%;" >10% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:6pt;padding-top:2.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:44.12%;" >Columbia Quality Income Fund </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:6pt;padding-top:2.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:45.30%;" >Government bond </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:12pt;padding-top:2.25pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:9.41%;" >20% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:6pt;padding-top:2.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:44.12%;" >Columbia Short Term Bond Fund </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:6pt;padding-top:2.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:45.30%;" >Short term bond </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:12pt;padding-top:2.25pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:9.41%;" >15% </td></tr> <tr style="page-break-inside:avoid;"> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:6pt;padding-top:2.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:44.12%;" >Columbia U.S. Treasury Index Fund </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:6pt;padding-top:2.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:45.30%;" >U.S. Treasury notes/bonds </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:2.25pt;padding-left:6pt;padding-right:12pt;padding-top:2.25pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:9.41%;" >35% </td></tr> <tr style="page-break-inside:avoid;"> <td style="font-style:normal;font-weight:bold;line-height:11pt;padding-bottom:4pt;padding-left:6pt;padding-right:6pt;padding-top:2.25pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:44.12%;" >Total </td> <td style="line-height:0pt;padding-bottom:4pt;padding-right:6pt;padding-top:2.25pt;text-align:left;vertical-align:bottom;width:45.30%;" >&nbsp; </td> <td style="font-style:normal;font-weight:bold;line-height:11pt;padding-bottom:4pt;padding-left:6pt;padding-right:12pt;padding-top:2.25pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:9.41%;" >100% </td></tr></table><br/>See the Portfolio Funds Summary section of this prospectus for information about the Portfolio Funds' investment objectives and principal investment strategies. Each of the Portfolio Funds is managed by the Investment Manager or its affiliates. The Fund does not pay any sales load on its purchases of shares of the Portfolio Funds. <br/><br/>The Investment Manager has the authority to review the Portfolio Funds and to change the relative percentages among them or to add or eliminate funds. Such review will occur on at least an annual basis and will be reflected in the Portfolio Funds table disclosed in this prospectus. <br/><br/>Determination of Market State<br/><br/>Just as a thermostat may be set at different ranges for different seasons, the Fund&#8217;s allocation of assets between stock and bond funds is expected to be set at different range bands depending principally on the Investment Manager&#8217;s view of how expensive the equity market is compared to historical levels.<br/><br/>At least annually, the Investment Manager will conduct a review of the current equity market price levels compared to historical price levels, and will determine if the equity market is in an &#8220;expensive&#8221; state, or a &#8220;normal&#8221; state. This review will begin with a comparison of the S&amp;P 500<sup>&#174;</sup> Index&#8217;s cyclically adjusted price-to-earnings ratio for the prior seven years against a 40-year history, but the Investment Manager will also take into account additional quantitative or qualitative market factors, including for example, trends in equity price measures and comparisons of equity prices against prices for other asset classes. Based on its determination of the current market state, the Investment Manager will select the form of allocation table to be effective in the Fund&#8217;s current prospectus. Also as part of this review, the Investment Manager will update the median historical information used in the table, and the resulting S&amp;P 500<sup>&#174;</sup> Index levels used to create the bands around the median, regardless of the market state.<br/><br/>As noted below, the form of table used for an &#8220;expensive&#8221; market is expected to be different from that used for a &#8220;normal&#8221; market.<br/><br/>Generally, the Investment Manager will determine the current state of the equity market to be &#8220;expensive&#8221; when its analysis of the S&amp;P 500<sup>&#174;</sup> Index&#8217;s cyclically adjusted price-to-earnings ratio for the prior seven years is within the top quartile of ratio observations over a 40-year history. The &#8220;expensive&#8221; equity market form of allocation table for the Fund is structured around an implied S&amp;P 500<sup>&#174;</sup> Index trading range median of 50% stocks/50% bonds (the 50/50 Band), with allocations to bonds decreasing through stratified range bands below the 50/50 Band and allocations to bonds increasing through stratified range bands above the 50/50 Band, as shown by the following example:<br/><br/> <table style="border-collapse:collapse;empty-cells:show;margin-top:5pt;width:98.84%;" cellpadding="0" cellspacing="0"> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:bold;line-height:11pt;padding-bottom:5pt;padding-left:6pt;padding-right:12pt;padding-top:3pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:98.82%;" colspan="3">&#8220;Expensive&#8221; Equity Market Form of Stock/Bond Allocation Table</td></tr><tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:bold;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;">Level of the S&amp;P 500<sup>&#174;</sup> Index</td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:bold;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:10.44%;">Stock <br/> Percentage </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:bold;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:10.44%;">Bond <br/> Percentage </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >above top of trading range below </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >10% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >90% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >4% trading range above top of range below</td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >15% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >85% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >4% trading range above top of range below </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >20% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >80% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >4% trading range above top of range below </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >25% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >75% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >4% trading range above top of range below </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >30% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >70% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >4% trading range above top of range below </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >35% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >65% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >4% trading range above top of range below </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >40% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >60% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >4% trading range above top of range below </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >45% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >55% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >4% trading range centered on implied median (50/50 Band)*</td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >50% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >50% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >4% trading range below bottom of range above</td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >55% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >45% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >4% trading range below bottom of range above</td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >60% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >40% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >4% trading range below bottom of range above</td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >65% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >35% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >4% trading range below bottom of range above</td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >70% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >30% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >4% trading range below bottom of range above</td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >75% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >25% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >4% trading range below bottom of range above</td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >80% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >20% </td></tr><tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >4% trading range below bottom of range above</td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >85% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >15% </td></tr><tr> <td style="font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:77.95%;" >below bottom of trading range above</td> <td style="font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >90% </td> <td style="font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt;text-align:center;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >10% </td></tr></table> <br/>*Implied median price level as calculated by the Investment Manager.<br/><br/>The &#8220;expensive&#8221; form of table has been in place since the Fund&#8217;s inception in 2002.<br/><br/>Generally, the Investment Manager will determine the current state of the equity market to be &#8220;normal&#8221; when its analysis of the S&amp;P 500<sup>&#174;</sup> Index&#8217;s cyclically adjusted price-to-earnings ratio for the prior seven years is outside the top quartile of ratio observations over a 40-year history. The &#8220;normal&#8221; equity market form allocation table for the Fund is also structured around the 50/50 Band, with allocations to bonds decreasing through stratified range bands below the 50/50 Band, and allocations to stocks and bonds set at 50% stocks/50% bonds for all trading levels above the 50/50 Band, as shown by the following example:<br/><br/><table style="border-collapse:collapse;empty-cells:show;margin-top:5pt;width:98.84%;" cellpadding="0" cellspacing="0"> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:bold;line-height:11pt;padding-bottom:5pt;padding-left:6pt;padding-right:12pt;padding-top:3pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:98.82%;" colspan="3">&#8220;Normal&#8221; Equity Market Form of Stock/Bond Allocation Table </td></tr><tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:bold;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;">Level of the S&amp;P 500<sup>&#174;</sup> Index</td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:bold;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:10.44%;">Stock <br/> Percentage </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:bold;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;width:10.44%;">Bond <br/> Percentage </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >above trading range that is 2% below implied median (50/50 Band)*</td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >50% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >50% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >4% trading range below bottom of range above</td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >55% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >45% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >4% trading range below bottom of range above</td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >60% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >40% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >4% trading range below bottom of range above</td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >65% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >35% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >4% trading range below bottom of range above</td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >70% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >30% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >4% trading range below bottom of range above</td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >75% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >25% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >4% trading range below bottom of range above</td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >80% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >20% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >4% trading range below bottom of range above</td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >85% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >15% </td></tr> <tr> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:77.95%;" >below bottom of trading range above </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:6pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >90% </td> <td style="border-bottom:2pt solid #ffffff;font-style:normal;font-weight:normal;line-height:11pt;padding-bottom:4.5pt;padding-left:6pt;padding-right:12pt;padding-top:4.5pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:;width:10.44%;" >10% </td></tr></table><br/>*Implied median price level as calculated by the Investment Manager.<br/><br/>The Investment Manager will conduct the market state review at least annually prior to the annual updating of this prospectus, and may, in its discretion, assess the market state on an "emergency" basis and make any changes deemed necessary to reflect, for example, a very significant move in market levels or a structural change affecting the markets.<br/><br/>Any such "emergency" changes by the Investment Manager, which are expected to be infrequent, would be disclosed in this prospectus. <b>Principal Risks </b> An investment in the Fund involves risks, including specific risks relating to the investment in the Fund based on its investment process and its "fund-of-funds" structure, as well as specific risks related to the individual Portfolio Funds in which it invests that in the aggregate are principal risks to the Fund, including among others, those described below. More information about the Portfolio Funds, including their principal risks, is available in their prospectuses. This prospectus is not an offer for any of the Portfolio Funds. There is no assurance that the Fund will achieve its investment objective and you may lose money. The value of the Fund&#8217;s holdings may decline, and the Fund&#8217;s net asset value (NAV) and share price may go down. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. <br/><br/> <b>Allocation&nbsp;Risk.</b> The Investment Manager uses an asset allocation strategy in pursuit of its investment objective, there is a risk that the Fund's allocation among asset classes or&nbsp;investments will cause the Fund's shares to lose value or cause the Fund to underperform other funds with similar investment objectives and/or strategies, or that the investments themselves will not produce the returns expected.<br/><br/> <b>Fund-of-Funds Risk.</b> Determinations regarding asset classes or underlying funds and the Fund&#8217;s allocations thereto may not successfully achieve the Fund&#8217;s investment objective, in whole or in part. The ability of the Fund to realize its investment objective will depend, in large part, on the extent to which the underlying funds realize their investment objective. There is no guarantee that the underlying funds will achieve their respective investment objectives. The Fund is exposed to the same risks as the underlying funds in direct proportion to the allocation of its assets among the underlying funds. By investing in a combination of underlying funds, the Fund has exposure to the risks of many areas of the market. The performance of underlying funds could be adversely affected if other entities that invest in the same underlying funds make relatively large investments or redemptions in such underlying funds. The Fund, and its shareholders, indirectly bear a portion of the expenses of any funds in which the Fund invests. Because the expenses and costs of each underlying fund are shared by its investors, redemptions by other investors in an underlying fund could result in decreased economies of scale and increased operating expenses for such fund. The Investment Manager may have potential conflicts of interest in selecting affiliated funds over unaffiliated funds for investment by the Fund, and may also face potential conflicts of interest in selecting affiliated funds, because the fees the Investment Manager receives from some underlying funds may be higher than the fees paid by other underlying funds. Further, because of the Investment Manager&#8217;s confidence in its own strategies, investment philosophy and capacities, it will, in selecting underlying funds, at times prefer a fund in the Columbia Acorn Family of Funds over alternative investments. There can be no assurance, however, that a fund in the Columbia Acorn Family of Funds selected for inclusion in Columbia Thermostat Fund&#8217;s portfolio will, in fact, outperform similar funds managed by the Investment Manager&#8217;s affiliates.<br/><br/> <b>The Fund is subject indirectly to the risks of the Portfolio Funds described below. </b> Please see the Portfolio Funds Summary for information about which risks apply to which Portfolio Funds.<br/><br/> <b>Market Risk.</b> The market values of securities or other investments that the Fund holds will fall, sometimes rapidly or unpredictably, or fail to rise. An investment in the Fund could lose money over short or long periods.<br/><br/> <b>Interest Rate Risk.</b> Interest rate risk is the risk of losses attributable to changes in interest rates. In general, if prevailing interest rates rise, the values of loans and other debt instruments tend to fall, and if interest rates fall, the values of loans and other debt instruments tend to rise. Changes in the value of a debt instrument usually will not affect the amount of income the Fund receives from it but will generally affect the value of your investment in the Fund. Changes in interest rates may also affect the liquidity of the Fund&#8217;s investments in debt instruments. In general, the longer the maturity or duration of a debt instrument, the greater its sensitivity to changes in interest rates. Interest rate declines also may increase prepayments of debt obligations, which, in turn, would increase prepayment risk. Similarly, a period of rising interest rates may negatively impact the Fund&#8217;s performance. Actions by governments and central banking authorities can result in increases in interest rates. Such actions may negatively affect the value of debt instruments held by the Fund, resulting in a negative impact on the Fund's performance and NAV. Securities with floating interest rates are typically less sensitive to interest rate changes, but may decline in value if their interest rates do not rise as much as interest rates in general. Because rates on certain floating rate loans and other debt securities reset only periodically, changes in prevailing interest rates (and particularly sudden and significant changes) can be expected to cause fluctuations in the Fund&#8217;s NAV. Any interest rate increases could cause the value of the Fund&#8217;s investments in debt instruments to decrease. Rising interest rates may prompt redemptions from the Fund, which may force the Fund to sell investments at a time when it is not advantageous to do so, which could result in losses. <br/><br/> <b>Credit Risk. </b> Credit risk is the risk that the value of loans or other debt instruments may decline if the issuer thereof defaults or otherwise becomes unable or unwilling, or is perceived to be unable or unwilling, to honor its financial obligations, such as making payments to the Fund when due. Rating agencies assign credit ratings to certain debt instruments to indicate their credit risk. Unless otherwise provided in the Fund&#8217;s Principal Investment Strategies, investment grade debt instruments are those rated at or above BBB- by S&amp;P Global Ratings, or equivalently rated by Moody&#8217;s Investors Service, Inc. or Fitch, Inc., or, if unrated, determined by the management team to be of comparable quality. Conversely, below investment grade (commonly called &#8220;high-yield&#8221; or &#8220;junk&#8221;) debt instruments are those rated below BBB- by S&amp;P Global Ratings, or equivalently rated by Moody&#8217;s Investors Service, Inc. or Fitch, Inc., or, if unrated, determined by the management team to be of comparable quality. A rating downgrade by such agencies can negatively impact the value of such instruments. Lower quality or unrated instruments held by the Fund may present increased credit risk as compared to higher-rated instruments. Non-investment grade debt instruments may be subject to greater price fluctuations and are more likely to experience a default than investment grade debt instruments and therefore may expose the Fund to increased credit risk. If the Fund purchases unrated instruments, or if the ratings of instruments held by the Fund are lowered after purchase, the Fund will depend on analysis of credit risk more heavily than usual.<br/><br/> <b>High-Yield Investments Risk. </b> Securities and other debt instruments held by the Fund that are rated below investment grade (commonly called &#8220;high-yield&#8221; or &#8220;junk&#8221; bonds) and unrated debt instruments of comparable quality expose the Fund to a greater risk of loss of principal and income than a fund that invests solely or primarily in investment grade debt instruments. In addition, these investments have greater price fluctuations, are less liquid and are more likely to experience a default than higher-rated debt instruments. High-yield debt instruments are considered to be predominantly speculative with respect to the issuer&#8217;s capacity to pay interest and repay principal.<br/><br/> <b>Value Securities&nbsp;Risk.</b> Value securities are securities of companies that may have experienced, for example, adverse business, industry or other developments or may be subject to special risks that have caused the securities to be out of favor and, in turn, potentially undervalued. The market value of a portfolio security may not meet the Portfolio Fund&#8217;s Investment Manager&#8217;s perceived value assessment of that security, or may decline in price, even though the Portfolio Fund&#8217;s Investment Manager believes the securities are already undervalued. There is also a risk that it may take longer than expected for the value of these investments to rise to the portfolio manager&#8217;s perceived value. In addition, value securities, at times, may not perform as well as growth securities or the stock market in general, and may be out of favor with investors for varying periods of time.<br/><br/> <b>Growth Securities Risk.</b> Growth securities typically trade at a higher multiple of earnings than other types of equity securities. Accordingly, the&nbsp;market&nbsp;values&nbsp;of growth securities may never reach their expected market value and may decline in price. In addition, growth securities, at times, may not perform as well as value securities or the stock market in general, and may be out of favor with investors for varying periods of time.<br/><br/> <b>Sector Risk.</b> At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business within one or more economic sectors. Companies in the&nbsp;same sector may be similarly affected by economic, regulatory, political or market events or conditions, which may make the Fund more vulnerable to unfavorable developments in that sector than funds that invest more broadly. Generally, the more the Fund diversifies its investments, the more it spreads risk and potentially reduces the risks of loss and volatility.<br/><br/> <b>Foreign Securities Risk.</b> Investments in or exposure to foreign securities involve certain risks not associated with investments in or exposure to securities of U.S. companies. Foreign securities subject the Fund to the risks associated with investing in the particular country of an issuer, including political, regulatory, economic, social, diplomatic and other conditions or events (including, for example, military confrontations, war and terrorism), occurring in the country or region, as well as risks associated with less developed custody and settlement practices. Foreign securities may be more volatile and less liquid than securities of U.S. companies, and are subject to the risks associated with potential imposition of economic and other sanctions against a particular foreign country, its nationals or industries or businesses within the country. In addition, foreign governments may impose withholding or other taxes on the Fund&#8217;s income, capital gains or proceeds from the disposition of foreign securities, which could reduce the Fund&#8217;s return on such securities. <br/><br/> Operational and Settlement Risks of Foreign Securities. The Fund&#8217;s foreign securities are generally held outside the United States in the primary market for the securities in the custody of foreign sub-custodians. Some countries have limited governmental oversight and regulation, which increases the risk of corruption and fraud and the possibility of losses to the Fund. In particular, under certain circumstances, foreign securities may settle on a delayed delivery basis, meaning that the Fund may be required to make payment for securities before the Fund has actually received delivery of the securities or deliver securities prior to the receipt of payment. As a result, there is a risk that the security will not be delivered to the Fund or that payment will not be received. Losses can also result from lost, stolen or counterfeit securities; defaults by brokers and banks; failures or defects of the settlement system; or poor and improper record keeping by registrars and issuers.<br/><br/> Share Blocking. In certain non-U.S. markets, an issuer&#8217;s securities are blocked from trading for a specified number of days before and, in certain instances, after a shareholder meeting. The blocking period can last up to several weeks. Share blocking may prevent the Fund from buying or selling securities during this period. As a consequence of these restrictions, the Portfolio Fund's Investment Manager, on behalf of the Fund, may abstain from voting proxies in markets that require share blocking.<br/><br/> <b>Emerging Market Securities Risk.</b> Securities issued by foreign governments or companies in emerging market countries,&nbsp;such as&nbsp;China, Russia and certain countries 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 changes or developments in social, political, economic or other conditions. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity (i.e., lower trading volumes and less liquidity) 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 and have fewer trading partners, which makes them more sensitive to world commodity prices and economic downturns in other countries, and some have a higher risk of currency devaluations.<br/><br/> Operational and Settlement Risks of Securities in Emerging Markets. Foreign sub-custodians in emerging markets may be recently organized, lack extensive operating experience or lack effective government oversight or regulation. In addition, there may be legal restrictions or limitations on the ability of the Fund to recover assets held in custody by a foreign sub-custodian in the event of the bankruptcy of the sub-custodian. There may also be a greater risk that settlement may be delayed and that cash or securities of the Fund may be lost because of failures of or defects in the system, including fraud or corruption. Settlement systems in emerging markets also have a higher risk of failed trades.<br/><br/> Risks Related to Currencies and Corporate Actions in Emerging Markets. Risks related to currencies and corporate actions are also greater in emerging market countries than in developed countries. Emerging market currencies may not have an active trading market and are subject to a higher risk of currency devaluations.<br/><br/> Risks Related to Corporate and Securities Laws in Emerging Markets. Securities laws in emerging markets may be relatively new and unsettled and, consequently, there is a risk of rapid and unpredictable change in laws regarding foreign investment, securities regulation, title to securities and shareholder rights.<br/><br/> <b>Liquidity and Trading Volume Risk. </b> Due to market conditions, including uncertainty regarding the price of a security, it may be difficult for the Fund to buy or sell portfolio securities at a desirable time or price, which could result in investment losses. This risk of portfolio illiquidity is heightened with respect to small- and mid-cap securities, generally, and foreign small- and mid-cap securities in particular. The Fund may have to lower the selling price, liquidate other investments, or forego another, more appealing investment opportunity as a result of illiquidity in the markets. The Fund may also be limited in its ability to execute favorable trades in portfolio securities in response to changes in share prices and fundamentals, and may be forced to dispose of securities under disadvantageous circumstances and at a loss. As the Fund grows in size or, conversely, if it faces significant redemption pressure, these considerations take on increasing significance and may adversely impact performance.<br/><br/> <b>Foreign Currency Risk.</b> The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar, particularly if the Fund invests a significant percentage of its assets in foreign securities or other assets denominated in currencies other than the U.S. dollar.<br/><br/> <b>Issuer Risk.</b> An issuer in which the Fund invests or to which it has exposure may perform poorly, and the value of its securities may therefore decline, which may negatively affect the Fund&#8217;s performance. Underperformance may be caused by poor management decisions, competitive pressures, breakthroughs in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent disclosures, natural disasters or other events, conditions or factors.<br/><br/> Investments in larger, more established companies may involve certain risks associated with their larger size. For instance, larger, more established companies may be less able to respond quickly to new competitive challenges, such as changes in consumer tastes or innovation from smaller competitors. Also, larger companies are sometimes less able to attain the high growth rates of successful smaller companies, especially during extended periods of economic expansion. <br/><br/> <b>Small- and Mid-Cap Company Securities Risk.</b> Investments in small- and mid-cap companies often involve greater risks than investments in larger, more established companies because small- and mid-cap companies tend to have less predictable earnings and may lack the management experience, financial resources, product diversification and competitive strengths of larger companies. Securities of small- and mid-cap companies may be less liquid and more volatile than the securities of larger companies.<br/><br/> <b>U.S. Government Obligations Risk.</b> While U.S. Treasury obligations are backed by the &#8220;full faith and credit&#8221; of the U.S. Government, such securities are nonetheless subject to credit risk (i.e., the risk that the U.S. Government may be, or be perceived to be, unable or unwilling to honor its financial obligations, such as making payments). Securities issued or guaranteed by federal agencies or authorities and U.S. Government-sponsored instrumentalities or enterprises may or may not be backed by the full faith and credit of the U.S. Government.<br/><br/> <b>Derivatives Risk. </b> Derivatives may involve significant risks. Derivatives are financial instruments with a value in relation to, or derived from, the value of an underlying asset(s) or other reference, such as an index, rate or other economic indicator (each an underlying reference). Derivatives may include those that are privately placed or otherwise exempt from SEC registration, including certain Rule 144A eligible securities. Derivatives could result in Fund losses if the underlying reference does not perform as anticipated. Use of derivatives is a highly specialized activity that can involve investment techniques, risks, and tax planning different from those associated with more traditional investment instruments. The Fund&#8217;s derivatives strategy may not be successful and use of certain derivatives could result in substantial, potentially unlimited, losses to the Fund regardless of the Fund&#8217;s actual investment. A relatively small movement in the price, rate or other economic indicator associated with the underlying reference may result in substantial loss for the Fund. Derivatives may be more volatile than other types of investments. The value of derivatives may be influenced by a variety of factors, including national and international political and economic developments. Potential changes to the regulation of the derivatives markets may make derivatives more costly, may limit the market for derivatives, or may otherwise adversely affect the value or performance of derivatives. Derivatives can increase the Fund&#8217;s risk exposure to underlying references and their attendant risks, such as credit risk, market risk, foreign currency risk and interest rate risk, while exposing the Fund to correlation risk, counterparty risk, hedging risk, inflation risk, leverage risk, liquidity risk, pricing risk and volatility risk.<br/><br/> <b>Convertible Securities Risk.</b> Convertible securities are subject to the usual risks associated with debt instruments, such as interest rate risk and credit risk. Convertible securities also react to changes in the value of the common stock into which they convert, and are thus subject to market risk. The Fund may also be forced to convert a convertible security at an inopportune time, which may decrease the Fund&#8217;s return.<br/><br/> <b>Forward Commitments on Mortgage-Backed Securities (including Dollar Rolls) Risk.</b> When purchasing mortgage-backed securities in the &#8220;to be announced&#8221; (TBA) market (MBS TBAs), the seller agrees to deliver mortgage-backed securities for an agreed upon price on an agreed upon date, but may make no guarantee as to the specific securities to be delivered. In lieu of taking delivery of mortgage-backed securities, the Fund could enter into dollar rolls, which are transactions in which the Fund sells securities to a counterparty and simultaneously agrees to purchase those or similar securities in the future at a predetermined price. Dollar rolls involve the risk that the market value of the securities the Fund is obligated to repurchase may decline below the repurchase price, or that the counterparty may default on its obligations. These transactions may also increase the Fund&#8217;s portfolio turnover rate. If the Fund reinvests the proceeds of the security sold, the Fund will also be subject to the risk that the investments purchased with such proceeds will decline in value (a form of leverage risk). MBS TBAs and dollar rolls are subject to the risk that the counterparty to the transaction may not perform or be unable to perform in accordance with the terms of the instrument. <br/><br/> <b>Mortgage-&nbsp;and Other Asset-Backed Securities Risk. </b> The value of any mortgage-backed and other asset-backed securities held by the Fund may be affected by, among other things, changes or perceived changes in: interest rates; factors concerning the interests in and structure of the issuer or the originator of the mortgages&nbsp;or other assets; the creditworthiness of the entities that provide any supporting letters of credit, surety bonds or other credit enhancements; or the market's assessment of the quality of underlying assets. Payment of principal and interest on some mortgage-backed securities (but not the market value of the securities themselves) may be guaranteed by the full faith and credit of a particular U.S. Government agency, authority, enterprise or instrumentality, and some, but not all, are also insured or guaranteed by the U.S. Government. Mortgage-backed securities issued by non-governmental issuers (such as commercial banks, savings and loan institutions, private mortgage insurance companies, mortgage bankers and other secondary market issuers) may entail greater risk than obligations guaranteed by the U.S. Government. Mortgage-&nbsp;and other asset-backed securities are subject to liquidity risk and prepayment risk. A decline or flattening of housing values may cause delinquencies in the mortgages (especially sub-prime or non-prime mortgages) underlying mortgage-backed securities and thereby adversely affect the ability of the mortgage-backed securities issuer to make principal and/or interest payments to mortgage-backed securities holders, including the Fund. Rising or high interest rates tend to extend the duration of mortgage-&nbsp;and other asset-backed securities, making their prices more volatile and more sensitive to changes in interest rates.<br/><br/> <b>Stripped Securities Risk.</b> Stripped securities are the separate income or principal components of debt securities. These securities are particularly sensitive to changes in interest rates, and therefore subject to greater fluctuations in price than typical interest bearing debt securities.<br/><br/> <b>Prepayment and Extension Risk.</b> Prepayment and extension risk is the risk that a bond or other security or investment might, in the case of prepayment risk, be called or otherwise converted, prepaid or redeemed before maturity and, in the case of extension risk, that the investment might not be called as expected. In the case of prepayment risk, if the investment is converted, prepaid or redeemed before maturity, the portfolio managers may not be able to invest the proceeds in other investments providing as high a level of income, resulting in a reduced yield to the Fund. In the case of mortgage- or other asset-backed securities, as interest rates decrease or spreads narrow, the likelihood of prepayment increases. Conversely, extension risk is the risk that an unexpected rise in interest rates will extend the life of a mortgage- or other asset-backed security beyond the prepayment time. If the Fund&#8217;s investments are locked in at a lower interest rate for a longer period of time, the portfolio managers may be unable to capitalize on securities with higher interest rates or wider spreads.<br/><br/> <b>Reinvestment&nbsp;Risk.</b> Reinvestment risk arises when the Fund is unable to reinvest income or principal at the same return it is currently earning.<br/><br/> <b>Depositary Receipts Risk. </b> Depositary receipts are receipts issued by a bank or trust company reflecting ownership of underlying securities issued by foreign companies. Some foreign securities are traded in the form of American Depositary Receipts and/or Global Depositary Receipts. Depositary receipts involve risks similar to the risks associated with investments in foreign securities, including those associated with investing in the particular country of an issuer, which may be related to the particular political, regulatory, economic, social and other conditions or events, including, for example, military confrontations, war and terrorism, occurring in the country and fluctuations in such country&#8217;s currency, as well as market risk tied to the underlying foreign company. In addition, holders of depositary receipts may have limited voting rights, may not have the same rights afforded to stockholders of a typical domestic company in the event of a corporate action, such as an acquisition, merger or rights offering, and may experience difficulty in receiving company stockholder communications. There is no guarantee that a financial institution will continue to sponsor a depositary receipt, or that a depositary receipt will continue to trade on an exchange, either of which could adversely affect the liquidity, availability and pricing of the depositary receipt. Changes in foreign currency exchange rates will affect the value of depositary receipts and, therefore, may affect the value of your investment in the Fund. <br/><br/> <b>Derivatives Risk &#8211; Futures Contracts Risk.</b> A futures contract is an exchange-traded derivative transaction between two parties in which a buyer (holding the &#8220;long&#8221; position) agrees to pay a fixed price (or rate) at a specified future date for delivery of an underlying reference from a seller (holding the &#8220;short&#8221; position). The seller hopes that the market price on the delivery date is less than the agreed upon price, while the buyer hopes for the contrary. Certain futures contract markets are highly volatile, and futures contracts may be illiquid. Futures exchanges may limit fluctuations in futures contract prices by imposing a maximum permissible daily price movement. The Fund may be disadvantaged if it is prohibited from executing a trade outside the daily permissible price movement. At or prior to maturity of a futures contract, the Fund may enter into an offsetting contract and may incur a loss to the extent there has been adverse movement in futures contract prices. The liquidity of the futures markets depends on participants entering into offsetting transactions rather than making or taking delivery. To the extent participants make or take delivery, liquidity in the futures market could be reduced. Because of the low margin deposits normally required in futures trading, it is possible that the Fund may employ a high degree of leverage in the portfolio. As a result, a relatively small price movement in a futures contract may result in substantial losses to the Fund, exceeding the amount of the margin paid. For certain types of futures contracts, losses are potentially unlimited. Futures markets are highly volatile and the use of futures may increase the volatility of the Fund&#8217;s NAV. Futures contracts executed (if any) on foreign exchanges may not provide the same protection as U.S. exchanges. Futures contracts can increase the Fund&#8217;s risk exposure to underlying references and their attendant risks, such as credit risk, market risk, foreign currency risk and interest rate risk, while also exposing the Fund to correlation risk, counterparty risk, hedging risk, inflation risk, leverage risk, liquidity risk, pricing risk and volatility risk.<br/><br/> <b>Changing Distribution Level Risk.</b> The Fund will normally receive income which may include interest, dividends and/or capital gains, depending upon its investments. The distribution amount paid by the Fund will vary and generally depends on the amount of income the Fund earns (less expenses) on its portfolio holdings, and capital gains or losses it recognizes. A decline in the Fund&#8217;s income or net capital gains arising from its investments may reduce its distribution level.<br/><br/> <b>Rule 144A and Other Exempted Securities Risk.</b> The Fund may invest in privately placed and other securities or instruments exempt from SEC registration (collectively &#8220;private placements&#8221;), subject to liquidity and other regulatory restrictions. In the U.S. market, private placements are typically sold only to qualified institutional buyers, or qualified purchasers, as applicable. An insufficient number of buyers interested in purchasing private placements at a particular time could adversely affect the marketability of such investments and the Fund might be unable to dispose of them promptly or at reasonable prices, subjecting the Fund to liquidity risk. The Fund may invest in private placements determined to be liquid as well as those determined to be illiquid. Even if determined to be liquid, the Fund&#8217;s holdings of private placements may increase the level of Fund illiquidity if eligible buyers are unable or unwilling to purchase them at a particular time. Issuers of Rule 144A eligible securities are required to furnish information to potential investors upon request. However, the required disclosure is much less extensive than that required of public companies and is not publicly available since the offering is not filed with the SEC. Further, issuers of Rule 144A eligible securities can require recipients of the offering information (such as the Fund) to agree contractually to keep the information confidential, which could also adversely affect the Fund&#8217;s ability to dispose of the security.<br/><br/> <b>Select Portfolio Risk. </b> Because the Fund may invest in a limited number of companies, the Fund as a whole is subject to greater risk of loss if any of its portfolio securities decline in price. The Fund accordingly may be more susceptible to economic, political and regulatory developments than a fund that invests in a greater number of companies. In addition, the Fund&#8217;s holdings and weightings will diverge significantly from its primary benchmark&#8217;s holdings and weightings and the Fund may therefore experience greater risk and volatility relative to the benchmark. Because the Fund may invest in more than one company concentrated in a similar industry, sector or geographic region, the Fund may be even more concentrated than the number of companies it may hold would suggest.<br/><br/> <b>Derivatives Risk &#8211; Swaps Risk. </b> In a typical swap transaction, two parties agree to exchange the return earned on a specified underlying reference for a fixed return or the return from another underlying reference during a specified period of time. Swaps may be difficult to value and may be illiquid. Swaps could result in Fund losses if the underlying asset or reference does not perform as anticipated. Swaps create significant investment leverage such that a relatively small price movement in a swap may result in immediate and substantial losses to the Fund. The Fund may only close out a swap with its particular counterparty, and may only transfer a position with the consent of that counterparty. Certain swaps, such as short swap transactions and total return swaps, have the potential for unlimited losses, regardless of the size of the initial investment. Swaps can increase the Fund&#8217;s risk exposure to underlying references and their attendant risks, such as credit risk, market risk, foreign currency risk and interest rate risk, while also exposing the Fund to correlation risk, counterparty risk, hedging risk, inflation risk, leverage risk, liquidity risk, pricing risk and volatility risk.<br/><br/> <b>Highly Leveraged Transactions Risk.</b> The loans or other debt instruments in which the Fund invests may include highly leveraged transactions whereby the borrower assumes large amounts of debt in order to have the financial resources to attempt to achieve its business objectives. Loans or other debt instruments that are part of highly leveraged transactions involve a greater risk (including default and bankruptcy) than other investments.<br/><br/> <b>Counterparty Risk.</b> Counterparty risk is the risk that a counterparty to a transaction in a financial instrument held by the Fund or by a special purpose or structured vehicle invested in by the Fund may become insolvent or otherwise fail to perform its obligations. As a result, the Fund may obtain no or limited recovery of its investment, and any recovery may be significantly delayed.<br/><br/> <b>Exchange-Traded Fund (ETF) Risk.</b> ETFs are subject to, among other risks, tracking risk and passive and, in some cases, active investment risk. An ETF&#8217;s share price may not track its specified market index (if any) and may trade below its NAV. Certain ETFs use a &#8220;passive&#8221; investment strategy and do not take defensive positions in volatile or declining markets. Other ETFs are actively managed ETFs (i.e., they do not track a particular benchmark), which are subject to active management risk. An active secondary market in ETF shares may not develop or be maintained and may be halted or interrupted due to actions by its listing exchange, unusual market conditions or other reasons. There can be no assurance that an ETF&#8217;s shares will continue to be listed on an active exchange. In addition, shareholders bear expenses incurred through ownership of the ETF. There is a risk that ETFs may terminate due to extraordinary events. For example, any of the service providers to ETFs, such as the trustee or sponsor, may close or otherwise fail to perform their obligations to the ETF, and the ETF may not be able to find a substitute service provider. Also, certain ETFs may be dependent upon licenses to use various indexes as a basis for determining their compositions and/or otherwise to use certain trade names. If these licenses are terminated, the ETFs may also terminate. In addition, an ETF may terminate if its net assets fall below a certain amount.<br/><br/> <b>Liquidity Risk.</b> Liquidity risk is the risk associated with any event, circumstance, or characteristic of an investment or market that negatively impacts the Fund&#8217;s ability to sell, or realize the proceeds from the sale of, an investment at a desirable time or price. Liquidity risk may arise because of, for example, a lack of marketability of the investment, which means that when seeking to sell its portfolio investments, the Fund could find that selling is more difficult than anticipated, especially during times of high market volatility. Decreases in the number of financial institutions, including banks and broker-dealers, willing to make markets (match up sellers and buyers) in the Fund&#8217;s investments or decreases in their capacity or willingness to trade such investments may increase the Fund&#8217;s exposure to this risk. The debt market has experienced considerable growth, and financial institutions making markets in instruments purchased and sold by the Fund (e.g., bond dealers) have been subject to increased regulation. The impact of that growth and regulation on the ability and willingness of financial institutions to engage in trading or &#8220;making a market&#8221; in such instruments remains unsettled. Certain types of investments, such as lower-rated securities or those that are purchased and sold in over-the-counter markets, may be especially subject to liquidity risk. Securities or other assets in which the Fund invests may be traded in the over-the-counter market rather than on an exchange and therefore may be more difficult to purchase or sell at a fair price, which may have a negative impact on the Fund&#8217;s performance. Market participants attempting to sell the same or a similar instrument at the same time as the Fund could exacerbate the Fund&#8217;s exposure to liquidity risk. The Fund may have to accept a lower selling price for the holding, sell other liquid or more liquid investments that it might otherwise prefer to hold (thereby increasing the proportion of the Fund&#8217;s investments in less liquid or illiquid securities), or forego another more appealing investment opportunity.<br/><br/> Certain investments that were liquid when purchased by the Fund may later become illiquid, particularly in times of overall economic distress. Changing regulatory, market or other conditions or environments (for example, the interest rate or credit environments) may also adversely affect the liquidity and the price of the Fund's investments. Judgment plays a larger role in valuing illiquid or less liquid investments as compared to valuing liquid or more liquid investments. Price volatility may be higher for illiquid or less liquid investments as a result of, for example, the relatively less frequent pricing of such securities (as compared to liquid or more liquid investments). Generally, the less liquid the market at the time the Fund sells a portfolio investment, the greater the risk of loss or decline of value to the Fund. Overall market liquidity and other factors can lead to an increase in redemptions, which may negatively impact Fund performance and NAV, including, for example, if the Fund is forced to sell investments in a down market. <br/><br/> <b>Derivatives Risk &#8211; Forward Contracts Risk. </b> A forward contract is an over-the-counter derivative transaction between two parties to buy or sell a specified amount of an underlying reference at a specified price (or rate) on a specified date in the future. Forward contracts are negotiated on an individual basis and are not standardized or traded on exchanges. The market for forward contracts is substantially unregulated and can experience lengthy periods of illiquidity, unusually high trading volume and other negative impacts, such as political intervention, which may result in volatility or disruptions in such markets. A relatively small price movement in a forward contract may result in substantial losses to the Fund, exceeding the amount of the margin paid. Forward contracts can increase the Fund&#8217;s risk exposure to underlying references and their attendant risks, such as credit risk, market risk, foreign currency risk and interest rate risk, while also exposing the Fund to correlation risk, counterparty risk, hedging risk, inflation risk, leverage risk, liquidity risk, pricing risk and volatility risk.<br/><br/> <b>Frequent Trading&nbsp;Risk.</b>&nbsp;The portfolio managers may actively and frequently trade investments in the Fund's portfolio to carry out its investment strategies. Frequent trading of investments increases the possibility that the Fund, as relevant, will realize taxable capital gains (including short-term capital gains, which are generally taxable to shareholders at higher rates than long-term capital gains for U.S. federal income tax purposes), which could reduce the Fund's after-tax return. Frequent trading can also mean higher brokerage and other transaction costs, which could reduce the Fund's return. The trading costs and tax effects associated with portfolio turnover may adversely affect the Fund&#8217;s performance.<br/><br/> <b>Inflation-Protected Securities Risk.</b> Inflation-protected debt securities tend to react to changes in real interest rates (i.e., nominal interest rates minus the expected impact of inflation). In general, the price of such securities falls when real interest rates rise, and rises when real interest rates fall. Interest payments on these securities will vary and may be more volatile than interest paid on ordinary bonds. In periods of deflation, the Fund may have no income at all from such investments.<br/><br/> <b>Leverage Risk.</b> Leverage occurs when the Fund increases its assets available for investment using borrowings, derivatives, or similar instruments or techniques. Use of leverage can produce volatility and may exaggerate changes in the NAV of Fund shares and in the return on the Fund&#8217;s portfolio, which may increase the risk that the Fund will lose more than it has invested. If the Fund uses leverage, through the purchase of particular instruments such as derivatives, the Fund may experience capital losses that exceed the net assets of the Fund. Leverage can create an interest expense that may lower the Fund's overall returns. Leverage presents the opportunity for increased net income and capital gains, but may also exaggerate the Fund&#8217;s volatility and risk of loss. There can be no guarantee that a leveraging strategy will be successful.<br/><br/> <b>Sovereign Debt Risk.</b> A sovereign debtor&#8217;s willingness or ability to repay principal and pay interest in a timely manner may be affected by a variety of factors, including its cash flow situation, the extent of its reserves, the availability of sufficient foreign exchange on the date a payment is due, the relative size of the debt service burden to the economy as a whole, the sovereign debtor&#8217;s policy toward international lenders, and the political constraints to which a sovereign debtor may be subject.<br/><br/> <b>The Fund is subject indirectly to the following risks of Portfolio Funds seeking returns that correspond to a stated market index (the Index). </b><br/><br/><b>Passive Investment Risk. </b> The Fund is not &#8220;actively&#8221; managed and may be affected by a general decline in market segments related to its underlying index. The Fund invests in securities or instruments included in, or believed by the Portfolio Fund&#8217;s Investment Manager to be representative of, its underlying index, regardless of their investment merits. The Fund does not seek temporary defensive positions when markets decline or appear overvalued.<br/><br/> <b>Index Fund Risk. </b> An index fund seeks to track the performance of the Index by using indexing strategies and, therefore, would not necessarily sell a security because the security&#8217;s issuer was in financial trouble or defaulted, or whose credit rating was downgraded, unless that security was removed from the Index. The decision of whether to remove a security from an index is made by an independent index provider who is not affiliated with the Fund or the Investment Manager or its affiliates.<br/><br/> <b>Index Methodology Risk.</b> An index fund seeks performance that corresponds to the performance of the Index. There is no guarantee or assurance that the Index will achieve high, or even positive, returns. The Index may underperform more traditional indices. The Fund could lose value while other indices or measures of market performance increase in value or performance. In addition, the Fund may be subject to the risk that the index provider may not follow its stated methodology for construction of the Index and/or achieve the index provider&#8217;s intended performance objective. Errors may result in a negative performance impact to the Fund and its shareholders.<br/><br/> <b>Correlation/Tracking Error Risk.</b> An index fund&#8217;s value will generally decline when the performance of the Index declines. A number of factors may affect the Fund&#8217;s ability to achieve a high degree of correlation with the Index, and there is no guarantee that the Fund will achieve a high degree of correlation. Failure to achieve such degree of correlation may prevent the Fund from achieving its investment objective. The factors that may adversely affect the Fund&#8217;s correlation with the Index include the size of the Fund&#8217;s portfolio, fees, expenses, transaction costs, income items, valuation methodology, accounting standards, the effectiveness of sampling techniques (if applicable), changes in the Index and disruptions or illiquidity in the markets for the securities in which the Fund invests. While the Fund typically attempts to track the performance of the Index by investing all, or substantially all, of its assets in the securities that make up the Index in approximately the same proportion as their weighting in the Index, at times, the Fund may not have investment exposure to all securities in the Index, or its weighting of investment exposure to securities may be different from that of the Index. In addition, the Fund may invest in securities not included in the Index. The Fund may take or refrain from taking investment positions for various reasons, such as tax efficiency purposes, or to comply with regulatory restrictions, which may negatively affect the Fund&#8217;s correlation with the Index. The Fund may also be subject to large movements of assets into and out of the Fund, potentially resulting in the Fund being over- or under-exposed to certain securities comprising the Index and may be impacted by Index reconstitutions and Index rebalancing events. Holding cash balances may detract from the Fund&#8217;s ability to track the Index. In addition, the Fund&#8217;s NAV may deviate from the Index if the Fund fair values a portfolio security at a price other than the price used by the Index for that security. The Fund also bears management and other expenses and transaction costs in trading securities, which the Index does not bear. Accordingly, the Fund&#8217;s performance will likely fail to match the performance of the Index, after taking expenses into account. Any of these factors could decrease correlation between the performance of the Fund and the Index and may hinder the Fund&#8217;s ability to meet its investment objective. It is not possible to invest directly in an index.<br/><br/> <b>New Fund Risk.</b> Columbia Diversified Fixed Income Allocation ETF is a recently-formed Fund. Accordingly, investors in the Fund bear the risk that the Fund may not be successful in implementing its investment strategy of replicating the Index, which could result in the Fund being liquidated at any time without shareholder approval and/or at a time that may not be favorable for shareholders. Such a liquidation could have negative tax consequences for shareholders. <b>Performance Information </b> The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund&#8217;s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund&#8217;s returns for the periods shown with those of two broad-based indexes: the S&amp;P 500<sup>&#174;</sup> Index, the Fund&#8217;s primary benchmark for equity securities, and the Bloomberg Barclays U.S. Aggregate Bond Index, the Fund&#8217;s primary benchmark for debt securities. The table below also compares the Fund's returns with a secondary, custom index, the Blended Benchmark. The S&amp;P 500<sup>&#174;</sup> Index tracks the performance of 500 widely held, large-capitalization U.S. stocks. The Bloomberg Barclays U.S. Aggregate Bond Index is a market value-weighted index that tracks the daily price, coupon, pay-downs, and total return performance of fixed-rate, publicly placed, dollar-denominated, and non-convertible investment grade debt issues with at least $250 million par amount outstanding and with at least one year to final maturity.&nbsp; The Blended Benchmark was established by the Investment Manager to show how the Fund&#8217;s performance compares to an equally weighted custom composite of the Fund&#8217;s primary equity and primary debt benchmarks, the S&amp;P 500<sup>&#174;</sup> Index and the Bloomberg Barclays U.S. Aggregate Bond Index, respectively. The percentage of the Fund&#8217;s assets allocated to underlying stock and bond Portfolio Funds will vary, and accordingly the composition of the Fund&#8217;s portfolio will not always reflect the composition of the Blended Benchmark. <br/><br/> The performance of one or more share classes shown in the Average Annual Total Returns table below includes the Fund&#8217;s Class Inst share returns (adjusted to reflect the higher class-related operating expenses of such classes, where applicable) for periods prior to the indicated inception date of such share classes. Except for differences in fees and expenses, all share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities. <br/><br/> The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. Your actual after-tax returns will depend on your personal tax situation and may differ from those shown in the table. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class Inst shares and will vary for other share classes. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares. <br/><br/> The Fund&#8217;s performance prior to May 2018 reflects returns achieved following a principal&nbsp;investment strategy with a single form of allocation table. While the Fund now follows a principal&nbsp;investment strategy with two potential&nbsp;forms of allocation table, as described above in the Principal Investment Strategies section, the form&nbsp;of the Fund&#8217;s currently effective allocation table has been in place since the Fund&#8217;s inception in 2002.&nbsp;The Fund's performance prior to May 2018 reflects the current form of allocation table. <br/><br/> <b>The Fund&#8217;s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future.</b> Updated performance information can be obtained by calling toll-free 800.345.6611 or visiting columbiathreadneedleus.com. <b>Year by Year Total Return (%)<br/> as of December 31 Each Year</b> <b>Best and Worst Quarterly Returns<br/>During the Period Shown in the Bar Chart</b><br/><br/>Best&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2nd Quarter 2009 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.33%<br/><br/>Worst&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1st Quarter 2009&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-9.77% <b>Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2018) </b> You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 55 of the Fund&#8217;s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1. This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. Other expenses have been restated to reflect current transfer agency fees paid by the Fund. &#8220;Total annual Fund operating expenses&#8221; include acquired fund (Portfolio Fund) fees and expenses (expenses the Fund incurs indirectly through its investments in other funds) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include Portfolio Fund (acquired fund) fees and expenses. April 30, 2020 There is no assurance that the Fund will achieve its investment objective and you may lose money. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund&#8217;s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund&#8217;s returns for the periods shown with those of two broad-based indexes: the S&amp;P 500<sup>&#174;</sup> Index, the Fund&#8217;s primary benchmark for equity securities, and the Bloomberg Barclays U.S. Aggregate Bond Index, the Fund&#8217;s primary benchmark for debt securities. The table below also compares the Fund's returns with a secondary, custom index, the Blended Benchmark. The Blended Benchmark was established by the Investment Manager to show how the Fund&#8217;s performance compares to an equally weighted custom composite of the Fund&#8217;s primary equity and primary debt benchmarks, the S&P 500<sup>&#174;</sup> Index and the Bloomberg Barclays U.S. Aggregate Bond Index, respectively. The percentage of the Fund&#8217;s assets allocated to underlying stock and bond Portfolio Funds will vary, and accordingly the composition of the Fund&#8217;s portfolio will not always reflect the composition of the Blended Benchmark. The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class Inst shares and will vary for other share classes. <b>The Fund&#8217;s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future.</b> 800.345.6611 columbiathreadneedleus.com 2012-11-08 2012-11-08 Year to Date return 2019-03-31 Best 2009-09-30 Worst 2011-09-30 2002-09-25 2002-09-25 2002-09-25 2003-03-03 2012-11-08 2003-03-03 2012-11-08 2012-11-08 Year to Date return 2019-03-31 Best 2009-06-30 Worst 2009-03-31 Year to Date return 2019-03-31 <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleAnnualFundOperatingExpenses000083 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleExpenseExampleNoRedemptionTransposed000085 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleExpenseExampleTransposed000084 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleAverageAnnualTotalReturnsTransposed000087 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleShareholderFees000082 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleAnnualTotalReturnsBarChart000016 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleAnnualTotalReturnsBarChart000036 column period compact * ~</div> N-1A 2012-03-31 2018-12-31 Worst This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleAverageAnnualTotalReturnsTransposed000027 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleAnnualTotalReturnsBarChart000026 column period compact * ~</div> 2011-08-19 2011-08-19 "Total annual Fund operating expenses" include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses. 1992-09-23 1992-09-23 <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleAnnualTotalReturnsBarChart000046 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleAnnualTotalReturnsBarChart000076 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleAnnualTotalReturnsBarChart000086 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleAnnualTotalReturnsBarChart000056 column period compact * ~</div> <div style="display:none">~ http://www.columbiathreadneedleus.com/role/ScheduleAnnualTotalReturnsBarChart000066 column period compact * ~</div> Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares. Effective May 1, 2019, the MSCI ACWI ex USA Growth Index (Net) became the Fund&#8217;s primary benchmark; prior to May 1, 2019, this index was the Fund&#8217;s secondary benchmark. Also effective May 1, 2019, the MSCI ACWI ex USA Index (Net) became the Fund&#8217;s secondary benchmark; prior to May 1, 2019 this index was the Fund&#8217;s primary benchmark. The Investment Manager switched the Fund&#8217;s primary and secondary benchmarks because the Investment Manager believes that the Fund&#8217;s portfolio more closely aligns with the MSCI ACWI ex USA Growth Index (Net). The Investment Manager believes that the MSCI ACWI ex USA Index (Net) continues to provide a meaningful additional basis for comparing the Fund's performance because the Fund&#8217;s portfolio will generally be closely aligned with the index from an investment style perspective. Effective May 1, 2019, the MSCI ACWI ex USA SMID Cap Growth Index (Net) became the Fund&#8217;s primary benchmark; prior to May 1, 2019, this index was the Fund&#8217;s secondary benchmark. Also effective May 1, 2019, the MSCI ACWI ex USA SMID Cap Index (Net) became the Fund&#8217;s secondary benchmark; prior to May 1, 2019 this index was the Fund&#8217;s primary benchmark. The Investment Manager switched the Fund&#8217;s primary and secondary benchmarks because the Investment Manager believes that the Fund&#8217;s portfolio more closely aligns with the MSCI ACWI ex USA SMID Cap Growth Index (Net). The Investment Manager believes that the MSCI ACWI ex USA SMID Cap Index (Net) continues to provide a meaningful additional basis for comparing the Fund's performance because the Fund&#8217;s portfolio will generally be closely aligned with the index from an investment style perspective. Year to Date return 2019-03-31 50000 687 94 94 86 81 967 338 338 313 298 1268 602 602 559 532 2120 1356 1356 1264 1206 441 711 119 119 110 106 1002 376 376 352 337 1315 652 652 613 587 2198 1441 1441 1360 1303 709 117 117 108 103 1019 393 393 367 351 662 66 66 62 58 1350 690 690 646 619 858 221 221 208 196 2283 1534 1534 1442 1385 1070 389 389 367 345 1680 877 877 829 781 481 714 122 122 116 111 1079 457 457 441 428 1467 816 816 789 767 2551 1826 1826 1770 1725 694 101 101 94 92 152 950 320 320 298 287 475 1225 556 556 518 498 822 2008 1234 1234 1153 1108 1800 682 88 88 84 80 910 277 277 264 251 1156 481 481 460 438 1859 1072 1072 1024 977 1127 509 509 491 475 1556 911 911 880 854 2744 2035 2035 1970 1916 724 132 132 126 121 50000 50000 662 858 1070 1680 66 221 389 877 268 533 923 2014 66 221 389 877 62 208 367 829 58 196 345 781 168 533 923 2014 50000 711 1002 1315 2198 119 376 652 1441 320 683 1173 2522 119 376 652 1441 110 352 613 1360 106 337 587 1303 220 683 1173 2522 687 967 1268 2120 94 338 602 1356 295 647 1125 2446 94 338 602 1356 86 313 559 1264 81 298 532 1206 195 647 1125 2446 50000 709 1019 1350 2283 117 393 690 1534 318 700 1208 2605 117 393 690 1534 108 367 646 1442 103 351 619 1385 218 700 1208 2605 50000 694 950 1225 2008 101 320 556 1234 302 629 1081 2336 101 320 556 1234 94 298 518 1153 92 287 498 1108 152 475 822 1800 202 629 1081 2336 50000 50000 682 910 1156 1859 88 277 481 1072 289 587 1010 2190 88 277 1072 84 264 460 1024 80 251 438 977 189 587 1010 2190 714 1079 1467 2551 122 457 816 1826 323 762 1328 2868 122 457 816 1826 116 789 1770 111 428 767 1725 223 762 1328 2868 724 1127 1556 2744 132 509 911 2035 333 813 1419 3056 132 509 911 2035 126 491 880 1970 121 475 854 1916 233 813 1419 3056 -0.1739 -0.0318 0.0207 -0.2233 -0.0457 0.0095 -0.1757 -0.033 0.0192 -0.099 -0.0226 0.017 -0.1728 -0.0317 0.0205 -0.1727 -0.0306 0.0215 -0.1583 0.0087 0.0083 0.53 -0.1724 -0.031 0.0212 -0.1901 -0.0415 0.0102 0.0575 0 0 0.01 0.01 0 0.0067 0.0067 0.0067 0.0067 0.0067 0.0067 0.0025 0 0.01 0 0 0 0.0018 0.0018 0.0018 0.0018 0.0014 0.001 0.0002 0.0002 0.0002 0.0002 0.0002 0.0002 0.0112 0.0087 0.0187 0.0087 0.0083 0.0079 -0.0001 -0.0001 -0.0001 -0.0001 -0.0001 -0.0001 0.0111 0.0086 0.0186 0.0086 0.0082 0.0078 0.0575 0 0 0.01 0.01 0 0.0116 0.0116 0.0116 0.0116 0.0116 0.0116 0.0025 0 0.01 0 0 0 0.004 0.004 0.004 0.004 0.0035 0.0031 0.0181 0.0156 0.0256 0.0156 0.0151 0.0147 -0.0036 -0.0036 -0.0036 -0.0036 -0.0037 -0.0038 0.0145 0.012 0.022 0.012 0.0114 0.0109 0.0575 0 0 0.01 0.01 0 0.0124 0.0124 0.0124 0.0124 0.0124 0.0124 0.0025 0 0.01 0 0 0 0.0052 0.0052 0.0052 0.0052 0.0046 0.0041 0.0201 0.0176 0.0276 0.0176 0.017 0.0165 -0.0046 -0.0046 -0.0046 -0.0046 -0.0046 -0.0046 0.0155 0.013 0.023 0.013 0.0124 0.0119 0.1769 -0.1905 -0.0509 0.0542 0.1293 -0.1851 0.0105 0.0737 -0.201 0.0183 0.0835 0.39 -0.1844 0.0107 0.0738 -0.2015 0.0004 0.063 -0.1853 0.0104 0.0737 -0.2346 -0.0043 0.0622 -0.1857 0.0102 0.0735 -0.1857 0.009 0.0722 -0.1076 0.0094 0.0601 0.0871 -0.1721 0.18 0.0575 0 0 0.01 0.01 0 0.0077 0.0077 0.0077 0.0077 0.0077 0.0077 0.0077 0.0025 0 0.01 0 0 0 0.005 0.0023 0.0023 0.0023 0.0023 0.0016 0.0012 0.0023 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001 0.0126 0.0101 0.0201 0.0101 0.0094 0.009 0.0151 -0.0002 -0.0002 -0.0002 -0.0002 -0.0002 -0.0002 -0.0002 0.0124 0.0099 0.0199 0.0099 0.0092 0.0088 0.0149 -0.1593 0.0052 0.0928 -0.2084 -0.0151 0.0784 -0.0549 0.0061 0.0774 -0.1976 0.209 -0.0498 0.0551 -0.0747 0.0619 0.1476 0.66 -0.05 0.0545 -0.0658 0.0439 -0.05 0.0538 -0.1068 0.0392 -0.0095 0.0355 0.1043 -0.0776 -0.0055 0.0929 0.0575 0 0 0.01 0.01 0 0.0089 0.0089 0.0089 0.0089 0.0089 0.0089 0.0025 0 0.01 0 0 0 0.0039 0.0039 0.0039 0.0039 0.0031 0.0026 0.0153 0.0128 0.0228 0.0128 0.012 0.0115 -0.0013 -0.0013 -0.0013 -0.0013 -0.0014 -0.0014 0.014 0.0115 0.0215 0.0115 0.0106 0.0101 0.32 0.1656 -0.1582 0.0062 0.0935 -0.1632 -0.0006 0.0862 -0.1728 0.0209 0.0872 -0.1706 0.0175 0.0884 -0.1585 0.0057 0.0931 -0.1738 -0.0049 0.0813 -0.159 0.0047 0.0926 -0.2096 -0.0092 0.0831 -0.0613 0.0164 0.0694 -0.1372 0.011 0.0732 -0.1228 0.0213 0.0849 -0.1823 0.333 0.0575 0 0 0.01 0.01 0 0.0085 0.0085 0.0085 0.0085 0.0085 0.0085 0.0025 0 0.01 0 0 0 0.0028 0.0028 0.0028 0.0028 0.002 0.0015 0.0138 0.0113 0.0213 0.0113 0.0105 0.01 -0.0021 -0.0021 -0.0021 -0.0021 -0.0021 -0.0021 0.0117 0.0092 0.0192 0.0092 0.0084 0.0079 0.48 0.125 -0.1584 0.2344 -0.1214 0.0225 0.0855 -0.1443 0.0169 0.0715 -0.142 0.0068 0.0657 -0.1216 0.022 0.0852 -0.1391 0.0109 0.0732 -0.1226 0.0212 0.0847 -0.1749 0.0066 0.0751 -0.1772 0.0331 0.1202 -0.0433 0.0331 0.1051 -0.1628 -0.0011 0.0951 -0.1245 0.0482 0.13 0.0575 0 0 0.01 0.01 0 0.0092 0.0092 0.0092 0.0092 0.0092 0.0092 0.0025 0 0.01 0 0 0 0.0027 0.0027 0.0027 0.0027 0.002 0.0015 0.0144 0.0119 0.0219 0.0119 0.0112 0.0107 -0.0002 -0.0002 -0.0002 -0.0002 -0.0004 -0.0003 0.0142 0.0117 0.0217 0.0117 0.0108 0.0104 -0.1231 0.0493 0.1308 -0.0747 0.0619 0.1476 -0.1246 0.0486 0.1303 -0.1394 0.0376 0.1183 -0.125 0.0478 0.1298 0.6 0.1567 -0.2354 0.2811 -0.0523 0.0007 0.0977 -0.0198 0.0622 0.1346 -0.0361 0.0522 0.1235 -0.0191 0.0622 0.1347 -0.0777 0.0472 0.125 0.0141 0.0416 0.1088 0.0575 0 0 0.01 0.01 0 0.001 0.001 0.001 0.001 0.001 0.001 0.0025 0 0.01 0 0 0 0.0021 0.0021 0.0021 0.0021 0.0017 0.0013 0.004 0.004 0.004 0.004 0.004 0.004 0.0096 0.0071 0.0171 0.0071 0.0067 0.0063 -0.0006 -0.0006 -0.0006 -0.0006 -0.0006 -0.0006 0.009 0.0065 0.0165 0.0065 0.0061 0.0057 0.1322 -0.0189 0.0632 0.1352 -0.0186 0.0637 0.1356 -0.0931 0.0513 0.1352 0.86 0.0016 0.0325 0.0905 -0.0183 0.0219 0.0795 0.0012 0.0322 0.0903 -0.0586 0.0174 0.0812 0.0053 0.02 0.0702 -0.0169 0.0174 0.0784 0.0012 0.0322 0.0904 -0.222 0.2355 0 0 0 0 0 0 0.0601 -0.0977 0.1933 0.169 0.0021 0.0329 0.0908 -0.019 0.0565 0.0846 -0.0438 0.0849 0.1312 0.0001 0.0252 0.0348 1.22 0 0 0 0 0 0 0.3135 0.1192 -0.0412 -0.1798 -0.0304 0.3492 -0.1728 0.3965 0.26 -0.0461 0.1793 0.309 0.0082 -0.0157 0.1039 0.2524 -0.0509 0.5097 0.227 -0.1406 0.216 0.2233 -0.0428 -0.0133 -0.0228 0.3224 -0.1593 0.2566 0.3398 -0.0752 0.0443 -0.0329 0.3835 -0.1857 0 0 0 0 0 0 0.1196 0.129 0.1179 0.1295 0.1299 0.3229 0.1758 0.0485 0.1369 0.093 0.0557 0.0033 0.0472 0.0552 0.0012 0.3152 0.2189 -0.0976 0.2242 0.1475 -0.0679 -0.0103 0.0118 0.357 -0.1228 0.4149 0.2316 -0.0495 0.1898 0.3272 0.0361 -0.0136 0.13 0.1944 -0.0198 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.6617 0.2288 -0.1637 0.1715 0.3416 0.0247 -0.0044 0.1188 0.2659 -0.1245 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.1647 This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. Other expenses have been restated to reflect current transfer agency fees paid by the Fund. “Total annual Fund operating expenses” include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses. Columbia Wanger Asset Management, LLC (the Investment Manager) has contractually agreed to waive fees and reimburse certain expenses of the Fund, through April 30, 2020, so that ordinary operating expenses (excluding transaction costs and certain other investment-related expenses, 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 1.55% for Class A shares, 1.30% for Class Adv shares, 2.30% for Class C shares, 1.30% for Class Inst shares, 1.24% for Class Inst2 shares and 1.19% for Class Inst3 shares. This arrangement may only be amended or terminated with approval from the Fund’s Board of Trustees and the Investment Manager. Year to Date return as of March 31, 2019: 16.47% Year to Date return as of March 31, 2019: 16.90% Year to Date return as of March 31, 2019: 16.56% This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. “Total annual Fund operating expenses” include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses. This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. Other expenses have been restated to reflect current transfer agency fees paid by the Fund. “Total annual Fund operating expenses” include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses. Columbia Wanger Asset Management, LLC (the Investment Manager) has contractually agreed to waive 0.21% of the advisory fee otherwise payable to it by the Fund through April 30, 2020. This arrangement may only be amended or terminated with approval from the Fund's Board of Trustees and the Investment Manager. This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. Other expenses have been restated to reflect current transfer agency fees paid by the Fund. “Total annual Fund operating expenses” include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses. Columbia Wanger Asset Management, LLC (the Investment Manager) has contractually agreed to waive fees and reimburse certain expenses of the Fund, through April 30, 2020, so that ordinary operating expenses (excluding transaction costs and certain other investment-related expenses, interest and fees on borrowings, if any) do not exceed the annual rates of 1.11% for Class A shares, 0.86% for Class Adv shares, 1.86% for Class C shares, 0.86% for Class Inst shares, 0.82% for Class Inst2 shares and 0.78% for Class Inst3 shares. This arrangement may only be amended or terminated with approval from the Fund’s Board of Trustees and the Investment Manager. This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. Other expenses have been restated to reflect current transfer agency fees paid by the Fund. “Total annual Fund operating expenses” include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses. Columbia Wanger Asset Management, LLC (the Investment Manager) has contractually agreed to waive fees and reimburse certain expenses of the Fund, through April 30, 2020, so that ordinary operating expenses (excluding transaction costs and certain other investment-related expenses, 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 1.42% for Class A shares, 1.17% for Class Adv shares, 2.17% for Class C shares, 1.17% for Class Inst shares, 1.08% for Class Inst2 shares and 1.04% for Class Inst3 shares. This arrangement may only be amended or terminated with approval from the Fund’s Board of Trustees and the Investment Manager. The fee waivers and/or expense reimbursements shown in the table also reflect the contractual agreement of the Fund’s transfer agent, Columbia Management Investment Services Corp. (the Transfer Agent), to waive a portion of its fees through April 30, 2020, such that the Fund’s transfer agency fees do not exceed the annual rates of 0.04% of the average daily net assets of Class Inst2 shares and 0.00% of the average daily net assets of Class Inst3 shares. This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. Other expenses have been restated to reflect current transfer agency fees paid by the Fund. This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. “Total annual Fund operating expenses” include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses. Other expenses have been restated to reflect current transfer agency fees paid by the Fund. “Total annual Fund operating expenses” include acquired fund (Portfolio Fund) fees and expenses (expenses the Fund incurs indirectly through its investments in other funds) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include Portfolio Fund (acquired fund) fees and expenses. Columbia Wanger Asset Management, LLC (the Investment Manager) has contractually agreed to waive fees and reimburse certain expenses of the Fund, through April 30, 2020, so that ordinary operating expenses (excluding transaction costs and certain other investment-related expenses, interest and fees on borrowings and expenses associated with the Fund’s investment in other investment companies, including the Portfolio Funds) do not exceed the annual rates of 0.50% for Class A shares, 0.25% for Class Adv shares, 1.25% for Class C shares, 0.25% for Class Inst shares, 0.21% for Class Inst2 shares and 0.17% for Class Inst3 shares. This arrangement may only be amended or terminated with approval from the Fund's Board of Trustees and the Investment Manager. Columbia Wanger Asset Management, LLC (the Investment Manager) has contractually agreed to waive fees and reimburse certain expenses of the Fund, through April 30, 2020, so that ordinary operating expenses (excluding transaction costs and certain other investment-related expenses, interest and fees on borrowings, if any) do not exceed the annual rates of 1.24% for Class A shares, 0.99% for Class Adv shares, 1.99% for Class C shares, 0.99% for Class Inst shares, 0.92% for Class Inst2 shares, 0.88% for Class Inst3 shares and 1.49% for Class R shares. This arrangement may only be amended or terminated with approval from the Fund’s Board of Trustees and the Investment Manager. Year to Date return as of March 31, 2019: 8.71% Columbia Wanger Asset Management, LLC (the Investment Manager) has contractually agreed to waive fees and reimburse certain expenses of the Fund, through April 30, 2020, so that ordinary operating expenses (excluding transaction costs and certain other investment-related expenses, 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 1.45% for Class A shares, 1.20% for Class Adv shares, 2.20% for Class C shares, 1.20% for Class Inst shares, 1.14% for Class Inst2 shares and 1.09% for Class Inst3 shares. This arrangement may only be amended or terminated with approval from the Fund's Board of Trustees and the Investment Manager. The fee waivers and/or expense reimbursements shown in the table also reflect the contractual agreement of the Fund's transfer agent, Columbia Management Investment Services Corp. (the Transfer Agent), to waive a portion of its fees through April 30, 2020, such that the Fund's transfer agency fees do not exceed the annual rates of 0.05% of the average daily net assets of Class Inst2 shares and 0.00% of the average daily net assets of Class Inst3 shares. Year to Date return as of March 31, 2019: 12.50% Year to Date return as of March 31, 2019: 6.01% Year to Date return as of March 31, 2019: 15.67% Year to Date return as of March 31, 2019: 13.22% This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. Other expenses have been restated to reflect current transfer agency fees paid by the Fund. Columbia Wanger Asset Management, LLC (the Investment Manager) has contractually agreed to waive fees and reimburse certain expenses of the Fund, through April 30, 2020, so that ordinary operating expenses (excluding transaction costs and certain other investment-related expenses, 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 1.40% for Class A shares, 1.15% for Class Adv shares, 2.15% for Class C shares, 1.15% for Class Inst shares, 1.06% for Class Inst2 shares and 1.01% for Class Inst3 shares. This arrangement may only be amended or terminated with approval from the Fund’s Board of Trustees and the Investment Manager. The fee waivers and/or expense reimbursements shown in the table also reflect the contractual agreement of the Fund’s transfer agent, Columbia Management Investment Services Corp. (the Transfer Agent), to waive a portion of its fees through April 30, 2020, such that the Fund’s transfer agency fees do not exceed the annual rates of 0.05% of the average daily net assets of Class Inst2 shares and 0.00% of the average daily net assets of Class Inst3 shares. "Total annual Fund operating expenses" include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses. 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Document Period End Date dei_DocumentPeriodEndDate Dec. 31, 2018
Registrant Name dei_EntityRegistrantName COLUMBIA ACORN TRUST
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Document Creation Date dei_DocumentCreationDate Apr. 30, 2019
Document Effective Date dei_DocumentEffectiveDate May 01, 2019
Prospectus Date rr_ProspectusDate May 01, 2019
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Columbia Acorn Emerging Markets Fund
SUMMARY OF THE FUND
<b>Investment Objective </b>
Columbia Acorn Emerging Markets FundSM (the Fund) seeks long-term capital appreciation.
<b>Fees and Expenses of the Fund </b>
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. An investor transacting in a class of Fund shares without any front-end sales charge, contingent deferred sales charge, or other asset-based fee for sales or distribution may be required to pay a commission to the financial intermediary for effecting such transactions. Such commission rates are set by the financial intermediary and are not reflected in the tables or the example below. You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 25 of the Fund’s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1.
<b>Shareholder Fees (fees paid directly from your investment) </b>
Shareholder Fees - Columbia Acorn Emerging Markets Fund
Class A
Class C
Class Adv
Class Inst
Class Inst2
Class Inst3
Maximum sales charge (load) imposed on purchases (as a % of offering price) 5.75% none none none none none
Maximum deferred sales charge (load) imposed on redemptions (as a % of the lower of the original purchase price or current net asset value) 1.00% [1] 1.00% [2] none none none none
[1] This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions.
[2] This charge applies to redemptions within 12 months after purchase, with certain limited exceptions.
<b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) </b>
Annual Fund Operating Expenses - Columbia Acorn Emerging Markets Fund
Class A
Class Adv
Class C
Class Inst
Class Inst2
Class Inst3
Management fees 1.24% 1.24% 1.24% 1.24% 1.24% 1.24%
Distribution and/or service (12b-1) fees 0.25% none 1.00% none none none
Other expenses [1] 0.52% 0.52% 0.52% 0.52% 0.46% 0.41%
Total annual Fund operating expenses [2] 2.01% 1.76% 2.76% 1.76% 1.70% 1.65%
Fee waivers and/or expense reimbursements [3] (0.46%) (0.46%) (0.46%) (0.46%) (0.46%) (0.46%)
Total annual Fund operating expenses after fee waivers and/or expense reimbursements 1.55% 1.30% 2.30% 1.30% 1.24% 1.19%
[1] Other expenses have been restated to reflect current transfer agency fees paid by the Fund.
[2] “Total annual Fund operating expenses” include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses.
[3] Columbia Wanger Asset Management, LLC (the Investment Manager) has contractually agreed to waive fees and reimburse certain expenses of the Fund, through April 30, 2020, so that ordinary operating expenses (excluding transaction costs and certain other investment-related expenses, 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 1.55% for Class A shares, 1.30% for Class Adv shares, 2.30% for Class C shares, 1.30% for Class Inst shares, 1.24% for Class Inst2 shares and 1.19% for Class Inst3 shares. This arrangement may only be amended or terminated with approval from the Fund’s Board of Trustees and the Investment Manager.
<b>Example </b>
The following example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example illustrates the hypothetical expenses that you would incur over the time periods indicated, and assumes that:
  • you invest $10,000 in the applicable class of Fund shares for the periods indicated,
  • your investment has a 5% return each year, and
  • the Fund’s total annual operating expenses remain the same as shown in the Annual Fund Operating Expenses table above.
Since the waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire as indicated in the preceding table, they are only reflected in the 1 year example and the first year of the other examples. Although your actual costs may be higher or lower, based on the assumptions listed above, your costs would be:
Expense Example - Columbia Acorn Emerging Markets Fund - USD ($)
1 year
3 years
5 years
10 years
Class A 724 1,127 1,556 2,744
Class Adv 132 509 911 2,035
Class C 333 813 1,419 3,056
Class Inst 132 509 911 2,035
Class Inst2 126 491 880 1,970
Class Inst3 121 475 854 1,916
Expense Example, No Redemption - Columbia Acorn Emerging Markets Fund - USD ($)
1 year
3 years
5 years
10 years
Class A 724 1,127 1,556 2,744
Class Adv 132 509 911 2,035
Class C 233 813 1,419 3,056
Class Inst 132 509 911 2,035
Class Inst2 126 491 880 1,970
Class Inst3 121 475 854 1,916
<b>Portfolio Turnover </b>
The Fund may pay transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 53% of the average value of its portfolio.
<b>Principal Investment Strategies </b>
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 (i) invests a majority of its net assets in the common stock of small- and mid-sized companies with market capitalizations under $10 billion at the time of initial investment (“Focus Stocks”) and (ii) may also invest in companies with market capitalizations above $10 billion, provided that immediately after that investment a majority of the Fund’s net assets would be invested in Focus Stocks. The Fund may continue to hold, and make additional investments in, Focus Stocks whose market capitalizations have grown to exceed $10 billion, regardless of whether the Fund’s investments in Focus Stocks are a majority of the Fund’s net assets.

Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Investment Manager), believes that stocks of small- and mid-sized companies, 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 Investment Manager'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 Investment Manager will determine which countries are emerging market countries by reference to the countries included in the MSCI Emerging Markets SMID Cap Index (Net). In addition, the Fund may invest in certain developing market countries that are not included in the MSCI Emerging Markets SMID Cap Index (Net), but which are included on another independent third-party listing of emerging market and/or frontier market countries. The Investment Manager will make all determinations as to whether a company is an emerging market company at the time of investment.

The Investment Manager typically seeks companies with:
  • A strong business franchise that offers growth potential.
  • Products and services in which the company has a competitive advantage.
  • A stock price the Investment Manager believes is reasonable relative to the assets and earning power of the company.
The Investment Manager may sell a portfolio holding if the security reaches the Investment Manager's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Investment Manager believes other securities are more attractive. The Investment Manager also may sell a portfolio holding to fund redemptions.
<b>Principal Risks </b>
An investment in the Fund involves risks, including those described below. There is no assurance that the Fund will achieve its investment objective and you may lose money. The value of the Fund’s holdings may decline, and the Fund’s net asset value (NAV) and share price may go down. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

Active Management Risk. The Investment Manager’s active management of the Fund could cause the Fund to underperform its benchmark index and/or other funds with similar investment objectives and/or strategies.

Liquidity and Trading Volume Risk. Due to market conditions, including uncertainty regarding the price of a security, it may be difficult for the Fund to buy or sell portfolio securities at a desirable time or price, which could result in investment losses. This risk of portfolio illiquidity is heightened with respect to small- and mid-cap securities, generally, and foreign small- and mid-cap securities in particular. The Fund may have to lower the selling price, liquidate other investments, or forego another, more appealing investment opportunity as a result of illiquidity in the markets. The Fund may also be limited in its ability to execute favorable trades in portfolio securities in response to changes in share prices and fundamentals, and may be forced to dispose of securities under disadvantageous circumstances and at a loss. As the Fund grows in size or, conversely, if it faces significant redemption pressure, these considerations take on increasing significance and may adversely impact performance.

Foreign Securities Risk. Investments in or exposure to foreign securities involve certain risks not associated with investments in or exposure to securities of U.S. companies. Foreign securities subject the Fund to the risks associated with investing in the particular country of an issuer, including political, regulatory, economic, social, diplomatic and other conditions or events (including, for example, military confrontations, war and terrorism), occurring in the country or region, as well as risks associated with less developed custody and settlement practices. Foreign securities may be more volatile and less liquid than securities of U.S. companies, and are subject to the risks associated with potential imposition of economic and other sanctions against a particular foreign country, its nationals or industries or businesses within the country. In addition, foreign governments may impose withholding or other taxes on the Fund’s income, capital gains or proceeds from the disposition of foreign securities, which could reduce the Fund’s return on such securities.

Operational and Settlement Risks of Foreign Securities. The Fund’s foreign securities are generally held outside the United States in the primary market for the securities in the custody of foreign sub-custodians. Some countries have limited governmental oversight and regulation, which increases the risk of corruption and fraud and the possibility of losses to the Fund. In particular, under certain circumstances, foreign securities may settle on a delayed delivery basis, meaning that the Fund may be required to make payment for securities before the Fund has actually received delivery of the securities or deliver securities prior to the receipt of payment. As a result, there is a risk that the security will not be delivered to the Fund or that payment will not be received. Losses can also result from lost, stolen or counterfeit securities; defaults by brokers and banks; failures or defects of the settlement system; or poor and improper record keeping by registrars and issuers.

Share Blocking. In certain non-U.S. markets, an issuer’s securities are blocked from trading for a specified number of days before and, in certain instances, after a shareholder meeting. The blocking period can last up to several weeks. Share blocking may prevent the Fund from buying or selling securities during this period. As a consequence of these restrictions, the Investment Manager, on behalf of the Fund, may abstain from voting proxies in markets that require share blocking.

Emerging Market Securities Risk. Securities issued by foreign governments or companies in emerging market countries, such as China, Russia and certain countries 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 changes or developments in social, political, economic or other conditions. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity (i.e., lower trading volumes and less liquidity) 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 and have fewer trading partners, which makes them more sensitive to world commodity prices and economic downturns in other countries, and some have a higher risk of currency devaluations.

Operational and Settlement Risks of Securities in Emerging Markets. Foreign sub-custodians in emerging markets may be recently organized, lack extensive operating experience or lack effective government oversight or regulation. In addition, there may be legal restrictions or limitations on the ability of the Fund to recover assets held in custody by a foreign sub-custodian in the event of the bankruptcy of the sub-custodian. There may also be a greater risk that settlement may be delayed and that cash or securities of the Fund may be lost because of failures of or defects in the system, including fraud or corruption. Settlement systems in emerging markets also have a higher risk of failed trades.

Risks Related to Currencies and Corporate Actions in Emerging Markets. Risks related to currencies and corporate actions are also greater in emerging market countries than in developed countries. Emerging market currencies may not have an active trading market and are subject to a higher risk of currency devaluations.

Risks Related to Corporate and Securities Laws in Emerging Markets. Securities laws in emerging markets may be relatively new and unsettled and, consequently, there is a risk of rapid and unpredictable change in laws regarding foreign investment, securities regulation, title to securities and shareholder rights.

Frontier Market Risk. Frontier market countries generally have smaller economies and even less developed capital markets than traditional emerging market countries (which themselves have increased investment risk relative to more developed market countries) and, as a result, the Fund’s exposure to the risks associated with investing in emerging market countries are magnified when the Fund invests in frontier market countries. Increased risks include: the potential for extreme price volatility and illiquidity in frontier market countries; government ownership or control of parts of the private sector and of certain companies; trade barriers, exchange controls, managed adjustments in relative currency values and other protectionist and similar 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.

Foreign Currency Risk. The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar, particularly if the Fund invests a significant percentage of its assets in foreign securities or other assets denominated in currencies other than the U.S. dollar.

Geographic Focus Risk. The Fund may be particularly susceptible to economic, political, regulatory or other events or conditions affecting issuers and countries within the specific geographic regions in which the Fund invests. The Fund’s NAV may be more volatile than the NAV of a more geographically diversified fund.

Asia Pacific Region. Many of the countries in the Asia Pacific region are considered underdeveloped or developing, including from a political, economic and/or social perspective, and may have relatively unstable governments and economies based on limited business, industries and/or natural resources or commodities. Events in any one country within the region may impact other countries in the region or the region as a whole. As a result, events in the region will generally have a greater effect on the Fund than if the Fund were more geographically diversified. This could result in increased volatility in the value of the Fund’s investments and losses for the Fund. Also, securities of some companies in the region can be less liquid than U.S. or other foreign securities, potentially making it difficult for the Fund to sell such securities at a desirable time and price.

Growth Securities Risk. Growth securities typically trade at a higher multiple of earnings than other types of equity securities. Accordingly, the market values of growth securities may never reach their expected market value and may decline in price. In addition, growth securities, at times, may not perform as well as value securities or the stock market in general, and may be out of favor with investors for varying periods of time.

Small- and Mid-Cap Company Securities Risk. Investments in small- and mid-cap companies often involve greater risks than investments in larger, more established companies because small- and mid-cap companies tend to have less predictable earnings and may lack the management experience, financial resources, product diversification and competitive strengths of larger companies. Securities of small- and mid-cap companies may be less liquid and more volatile than the securities of larger companies.

Sector Risk. At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business within one or more economic sectors. Companies in the same sector may be similarly affected by economic, regulatory, political or market events or conditions, which may make the Fund more vulnerable to unfavorable developments in that sector than funds that invest more broadly. Generally, the more the Fund diversifies its investments, the more it spreads risk and potentially reduces the risks of loss and volatility.

Financial Services Sector. The Fund may be more susceptible to the particular risks that may affect companies in the financial services sector than if it were invested in a wider variety of companies in unrelated sectors. Companies in the financial services sector are subject to certain risks, including the risk of regulatory change, decreased liquidity in credit markets and unstable interest rates. Such companies may have concentrated portfolios, such as a high level of loans to real estate developers, which makes them vulnerable to economic conditions that affect that industry. Performance of such companies may be affected by competitive pressures and exposure to investments or agreements that, under certain circumstances, may lead to losses (e.g., subprime loans). Companies in the financial services sector are subject to extensive governmental regulation that may limit the amount and types of loans and other financial commitments they can make, and interest rates and fees that they may charge. In addition, profitability of such companies is largely dependent upon the availability and the cost of capital.

Issuer Risk. An issuer in which the Fund invests may perform poorly, and the value of its securities may therefore decline, which may negatively affect the Fund’s performance. Underperformance may be caused by poor management decisions, competitive pressures, breakthroughs in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent disclosures, natural disasters or other events, conditions or factors.

Market Risk. The market values of securities or other investments that the Fund holds will fall, sometimes rapidly or unpredictably, or fail to rise. An investment in the Fund could lose money over short or long periods.
<b>Performance Information </b>
The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund’s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund’s returns for the periods shown with the MSCI Emerging Markets SMID Cap Index (Net). The MSCI Emerging Markets SMID Cap Index (Net) captures mid- and small-cap representation across 24 emerging market countries. It has 1,949 constituents (as of March 31, 2019) and covers approximately 29% of the free float adjusted market capitalization in each country.

The performance of one or more share classes shown in the Average Annual Total Returns table below includes the Fund’s Class Inst share returns (adjusted to reflect the higher class-related operating expenses of such classes, where applicable) for periods prior to the indicated inception date of such share classes. Except for differences in fees and expenses, all share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities.

The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. Your actual after-tax returns will depend on your personal tax situation and may differ from those shown in the table. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class Inst shares and will vary for other share classes. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares.

The Fund’s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future. Updated performance information can be obtained by calling toll-free 800.345.6611 or visiting columbiathreadneedleus.com.
<b>Year by Year Total Return (%)<br/>as of December 31 Each Year</b>
Bar Chart
[1] Year to Date return as of March 31, 2019: 8.71%
Best and Worst Quarterly Returns
During the Period Shown in the Bar Chart


Best                                                      1st Quarter 2012                                                      18.00%

Worst                                                   3rd Quarter 2015                                                     -17.21%
<b>Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2018)</b>
Average Annual Total Returns - Columbia Acorn Emerging Markets Fund
Share Class Inception Date
1 Year
5 Years
Life of Fund
Class Inst Aug. 19, 2011 (17.28%) (3.17%) 2.05%
Class Inst | returns after taxes on distributions Aug. 19, 2011 (17.57%) (3.30%) 1.92%
Class Inst | returns after taxes on distributions and sale of Fund shares Aug. 19, 2011 (9.90%) (2.26%) 1.70%
Class A Aug. 19, 2011 (22.33%) (4.57%) 0.95%
Class Adv Nov. 08, 2012 (17.39%) (3.18%) 2.07%
Class C Aug. 19, 2011 (19.01%) (4.15%) 1.02%
Class Inst2 Nov. 08, 2012 (17.24%) (3.10%) 2.12%
Class Inst3 Jun. 13, 2013 (17.27%) (3.06%) 2.15%
MSCI Emerging Markets SMID Cap Index (Net) (reflects reinvested dividends net of withholding taxes but reflects no deductions for fees, expenses or other taxes)   (15.83%) 0.87% 0.83%
XML 12 R9.htm IDEA: XBRL DOCUMENT v3.19.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName COLUMBIA ACORN TRUST
Prospectus Date rr_ProspectusDate May 01, 2019
Columbia Acorn Emerging Markets Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading SUMMARY OF THE FUND
Objective [Heading] rr_ObjectiveHeading <b>Investment Objective </b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock Columbia Acorn Emerging Markets FundSM (the Fund) seeks long-term capital appreciation.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund </b>
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. An investor transacting in a class of Fund shares without any front-end sales charge, contingent deferred sales charge, or other asset-based fee for sales or distribution may be required to pay a commission to the financial intermediary for effecting such transactions. Such commission rates are set by the financial intermediary and are not reflected in the tables or the example below. You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 25 of the Fund’s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <b>Shareholder Fees (fees paid directly from your investment) </b>
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) </b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination April 30, 2020
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover </b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund may pay transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 53% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 53.00%
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 25 of the Fund’s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 50,000
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent Other expenses have been restated to reflect current transfer agency fees paid by the Fund.
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees “Total annual Fund operating expenses” include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
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 the applicable class of Fund shares for the periods indicated,
  • your investment has a 5% return each year, and
  • the Fund’s total annual operating expenses remain the same as shown in the Annual Fund Operating Expenses table above.
Since the waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire as indicated in the preceding table, they are only reflected in the 1 year example and the first year of the other examples. Although your actual costs may be higher or lower, based on the assumptions listed above, your costs would be:
Strategy [Heading] rr_StrategyHeading <b>Principal Investment Strategies </b>
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 (i) invests a majority of its net assets in the common stock of small- and mid-sized companies with market capitalizations under $10 billion at the time of initial investment (“Focus Stocks”) and (ii) may also invest in companies with market capitalizations above $10 billion, provided that immediately after that investment a majority of the Fund’s net assets would be invested in Focus Stocks. The Fund may continue to hold, and make additional investments in, Focus Stocks whose market capitalizations have grown to exceed $10 billion, regardless of whether the Fund’s investments in Focus Stocks are a majority of the Fund’s net assets.

Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Investment Manager), believes that stocks of small- and mid-sized companies, 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 Investment Manager'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 Investment Manager will determine which countries are emerging market countries by reference to the countries included in the MSCI Emerging Markets SMID Cap Index (Net). In addition, the Fund may invest in certain developing market countries that are not included in the MSCI Emerging Markets SMID Cap Index (Net), but which are included on another independent third-party listing of emerging market and/or frontier market countries. The Investment Manager will make all determinations as to whether a company is an emerging market company at the time of investment.

The Investment Manager typically seeks companies with:
  • A strong business franchise that offers growth potential.
  • Products and services in which the company has a competitive advantage.
  • A stock price the Investment Manager believes is reasonable relative to the assets and earning power of the company.
The Investment Manager may sell a portfolio holding if the security reaches the Investment Manager's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Investment Manager believes other securities are more attractive. The Investment Manager also may sell a portfolio holding to fund redemptions.
Risk [Heading] rr_RiskHeading <b>Principal Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock An investment in the Fund involves risks, including those described below. There is no assurance that the Fund will achieve its investment objective and you may lose money. The value of the Fund’s holdings may decline, and the Fund’s net asset value (NAV) and share price may go down. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

Active Management Risk. The Investment Manager’s active management of the Fund could cause the Fund to underperform its benchmark index and/or other funds with similar investment objectives and/or strategies.

Liquidity and Trading Volume Risk. Due to market conditions, including uncertainty regarding the price of a security, it may be difficult for the Fund to buy or sell portfolio securities at a desirable time or price, which could result in investment losses. This risk of portfolio illiquidity is heightened with respect to small- and mid-cap securities, generally, and foreign small- and mid-cap securities in particular. The Fund may have to lower the selling price, liquidate other investments, or forego another, more appealing investment opportunity as a result of illiquidity in the markets. The Fund may also be limited in its ability to execute favorable trades in portfolio securities in response to changes in share prices and fundamentals, and may be forced to dispose of securities under disadvantageous circumstances and at a loss. As the Fund grows in size or, conversely, if it faces significant redemption pressure, these considerations take on increasing significance and may adversely impact performance.

Foreign Securities Risk. Investments in or exposure to foreign securities involve certain risks not associated with investments in or exposure to securities of U.S. companies. Foreign securities subject the Fund to the risks associated with investing in the particular country of an issuer, including political, regulatory, economic, social, diplomatic and other conditions or events (including, for example, military confrontations, war and terrorism), occurring in the country or region, as well as risks associated with less developed custody and settlement practices. Foreign securities may be more volatile and less liquid than securities of U.S. companies, and are subject to the risks associated with potential imposition of economic and other sanctions against a particular foreign country, its nationals or industries or businesses within the country. In addition, foreign governments may impose withholding or other taxes on the Fund’s income, capital gains or proceeds from the disposition of foreign securities, which could reduce the Fund’s return on such securities.

Operational and Settlement Risks of Foreign Securities. The Fund’s foreign securities are generally held outside the United States in the primary market for the securities in the custody of foreign sub-custodians. Some countries have limited governmental oversight and regulation, which increases the risk of corruption and fraud and the possibility of losses to the Fund. In particular, under certain circumstances, foreign securities may settle on a delayed delivery basis, meaning that the Fund may be required to make payment for securities before the Fund has actually received delivery of the securities or deliver securities prior to the receipt of payment. As a result, there is a risk that the security will not be delivered to the Fund or that payment will not be received. Losses can also result from lost, stolen or counterfeit securities; defaults by brokers and banks; failures or defects of the settlement system; or poor and improper record keeping by registrars and issuers.

Share Blocking. In certain non-U.S. markets, an issuer’s securities are blocked from trading for a specified number of days before and, in certain instances, after a shareholder meeting. The blocking period can last up to several weeks. Share blocking may prevent the Fund from buying or selling securities during this period. As a consequence of these restrictions, the Investment Manager, on behalf of the Fund, may abstain from voting proxies in markets that require share blocking.

Emerging Market Securities Risk. Securities issued by foreign governments or companies in emerging market countries, such as China, Russia and certain countries 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 changes or developments in social, political, economic or other conditions. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity (i.e., lower trading volumes and less liquidity) 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 and have fewer trading partners, which makes them more sensitive to world commodity prices and economic downturns in other countries, and some have a higher risk of currency devaluations.

Operational and Settlement Risks of Securities in Emerging Markets. Foreign sub-custodians in emerging markets may be recently organized, lack extensive operating experience or lack effective government oversight or regulation. In addition, there may be legal restrictions or limitations on the ability of the Fund to recover assets held in custody by a foreign sub-custodian in the event of the bankruptcy of the sub-custodian. There may also be a greater risk that settlement may be delayed and that cash or securities of the Fund may be lost because of failures of or defects in the system, including fraud or corruption. Settlement systems in emerging markets also have a higher risk of failed trades.

Risks Related to Currencies and Corporate Actions in Emerging Markets. Risks related to currencies and corporate actions are also greater in emerging market countries than in developed countries. Emerging market currencies may not have an active trading market and are subject to a higher risk of currency devaluations.

Risks Related to Corporate and Securities Laws in Emerging Markets. Securities laws in emerging markets may be relatively new and unsettled and, consequently, there is a risk of rapid and unpredictable change in laws regarding foreign investment, securities regulation, title to securities and shareholder rights.

Frontier Market Risk. Frontier market countries generally have smaller economies and even less developed capital markets than traditional emerging market countries (which themselves have increased investment risk relative to more developed market countries) and, as a result, the Fund’s exposure to the risks associated with investing in emerging market countries are magnified when the Fund invests in frontier market countries. Increased risks include: the potential for extreme price volatility and illiquidity in frontier market countries; government ownership or control of parts of the private sector and of certain companies; trade barriers, exchange controls, managed adjustments in relative currency values and other protectionist and similar 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.

Foreign Currency Risk. The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar, particularly if the Fund invests a significant percentage of its assets in foreign securities or other assets denominated in currencies other than the U.S. dollar.

Geographic Focus Risk. The Fund may be particularly susceptible to economic, political, regulatory or other events or conditions affecting issuers and countries within the specific geographic regions in which the Fund invests. The Fund’s NAV may be more volatile than the NAV of a more geographically diversified fund.

Asia Pacific Region. Many of the countries in the Asia Pacific region are considered underdeveloped or developing, including from a political, economic and/or social perspective, and may have relatively unstable governments and economies based on limited business, industries and/or natural resources or commodities. Events in any one country within the region may impact other countries in the region or the region as a whole. As a result, events in the region will generally have a greater effect on the Fund than if the Fund were more geographically diversified. This could result in increased volatility in the value of the Fund’s investments and losses for the Fund. Also, securities of some companies in the region can be less liquid than U.S. or other foreign securities, potentially making it difficult for the Fund to sell such securities at a desirable time and price.

Growth Securities Risk. Growth securities typically trade at a higher multiple of earnings than other types of equity securities. Accordingly, the market values of growth securities may never reach their expected market value and may decline in price. In addition, growth securities, at times, may not perform as well as value securities or the stock market in general, and may be out of favor with investors for varying periods of time.

Small- and Mid-Cap Company Securities Risk. Investments in small- and mid-cap companies often involve greater risks than investments in larger, more established companies because small- and mid-cap companies tend to have less predictable earnings and may lack the management experience, financial resources, product diversification and competitive strengths of larger companies. Securities of small- and mid-cap companies may be less liquid and more volatile than the securities of larger companies.

Sector Risk. At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business within one or more economic sectors. Companies in the same sector may be similarly affected by economic, regulatory, political or market events or conditions, which may make the Fund more vulnerable to unfavorable developments in that sector than funds that invest more broadly. Generally, the more the Fund diversifies its investments, the more it spreads risk and potentially reduces the risks of loss and volatility.

Financial Services Sector. The Fund may be more susceptible to the particular risks that may affect companies in the financial services sector than if it were invested in a wider variety of companies in unrelated sectors. Companies in the financial services sector are subject to certain risks, including the risk of regulatory change, decreased liquidity in credit markets and unstable interest rates. Such companies may have concentrated portfolios, such as a high level of loans to real estate developers, which makes them vulnerable to economic conditions that affect that industry. Performance of such companies may be affected by competitive pressures and exposure to investments or agreements that, under certain circumstances, may lead to losses (e.g., subprime loans). Companies in the financial services sector are subject to extensive governmental regulation that may limit the amount and types of loans and other financial commitments they can make, and interest rates and fees that they may charge. In addition, profitability of such companies is largely dependent upon the availability and the cost of capital.

Issuer Risk. An issuer in which the Fund invests may perform poorly, and the value of its securities may therefore decline, which may negatively affect the Fund’s performance. Underperformance may be caused by poor management decisions, competitive pressures, breakthroughs in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent disclosures, natural disasters or other events, conditions or factors.

Market Risk. The market values of securities or other investments that the Fund holds will fall, sometimes rapidly or unpredictably, or fail to rise. An investment in the Fund could lose money over short or long periods.
Risk Lose Money [Text] rr_RiskLoseMoney There is no assurance that the Fund will achieve its investment objective and you may lose money.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>Performance Information </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund’s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund’s returns for the periods shown with the MSCI Emerging Markets SMID Cap Index (Net). The MSCI Emerging Markets SMID Cap Index (Net) captures mid- and small-cap representation across 24 emerging market countries. It has 1,949 constituents (as of March 31, 2019) and covers approximately 29% of the free float adjusted market capitalization in each country.

The performance of one or more share classes shown in the Average Annual Total Returns table below includes the Fund’s Class Inst share returns (adjusted to reflect the higher class-related operating expenses of such classes, where applicable) for periods prior to the indicated inception date of such share classes. Except for differences in fees and expenses, all share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities.

The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. Your actual after-tax returns will depend on your personal tax situation and may differ from those shown in the table. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class Inst shares and will vary for other share classes. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares.

The Fund’s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future. Updated performance information can be obtained by calling toll-free 800.345.6611 or visiting columbiathreadneedleus.com.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund’s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund’s returns for the periods shown with the MSCI Emerging Markets SMID Cap Index (Net). The MSCI Emerging Markets SMID Cap Index (Net) captures mid- and small-cap representation across 24 emerging market countries. It has 1,949 constituents (as of March 31, 2019) and covers approximately 29% of the free float adjusted market capitalization in each country.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800.345.6611
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress columbiathreadneedleus.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture <b>The Fund’s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future.</b>
Bar Chart [Heading] rr_BarChartHeading <b>Year by Year Total Return (%)<br/>as of December 31 Each Year</b>
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock Best and Worst Quarterly Returns
During the Period Shown in the Bar Chart


Best                                                      1st Quarter 2012                                                      18.00%

Worst                                                   3rd Quarter 2015                                                     -17.21%
Performance Table Heading rr_PerformanceTableHeading <b>Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2018)</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs).
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown The after-tax returns are shown only for Class Inst shares and will vary for other share classes.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares.
Columbia Acorn Emerging Markets Fund | Class A  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther 1.00% [1]
Management fees rr_ManagementFeesOverAssets 1.24%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other expenses rr_OtherExpensesOverAssets 0.52% [2]
Total annual Fund operating expenses rr_ExpensesOverAssets 2.01% [3]
Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.46%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 1.55%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions.
1 year rr_ExpenseExampleYear01 $ 724
3 years rr_ExpenseExampleYear03 1,127
5 years rr_ExpenseExampleYear05 1,556
10 years rr_ExpenseExampleYear10 2,744
1 year rr_ExpenseExampleNoRedemptionYear01 724
3 years rr_ExpenseExampleNoRedemptionYear03 1,127
5 years rr_ExpenseExampleNoRedemptionYear05 1,556
10 years rr_ExpenseExampleNoRedemptionYear10 $ 2,744
1 Year rr_AverageAnnualReturnYear01 (22.33%)
5 Years rr_AverageAnnualReturnYear05 (4.57%)
Life of Fund rr_AverageAnnualReturnSinceInception 0.95%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Aug. 19, 2011
Columbia Acorn Emerging Markets Fund | Class Adv  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 1.24%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.52% [2]
Total annual Fund operating expenses rr_ExpensesOverAssets 1.76% [3]
Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.46%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 1.30%
1 year rr_ExpenseExampleYear01 $ 132
3 years rr_ExpenseExampleYear03 509
5 years rr_ExpenseExampleYear05 911
10 years rr_ExpenseExampleYear10 2,035
1 year rr_ExpenseExampleNoRedemptionYear01 132
3 years rr_ExpenseExampleNoRedemptionYear03 509
5 years rr_ExpenseExampleNoRedemptionYear05 911
10 years rr_ExpenseExampleNoRedemptionYear10 $ 2,035
1 Year rr_AverageAnnualReturnYear01 (17.39%)
5 Years rr_AverageAnnualReturnYear05 (3.18%)
Life of Fund rr_AverageAnnualReturnSinceInception 2.07%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Nov. 08, 2012
Columbia Acorn Emerging Markets Fund | Class C  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther 1.00% [5]
Management fees rr_ManagementFeesOverAssets 1.24%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other expenses rr_OtherExpensesOverAssets 0.52% [2]
Total annual Fund operating expenses rr_ExpensesOverAssets 2.76% [3]
Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.46%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 2.30%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock This charge applies to redemptions within 12 months after purchase, with certain limited exceptions.
1 year rr_ExpenseExampleYear01 $ 333
3 years rr_ExpenseExampleYear03 813
5 years rr_ExpenseExampleYear05 1,419
10 years rr_ExpenseExampleYear10 3,056
1 year rr_ExpenseExampleNoRedemptionYear01 233
3 years rr_ExpenseExampleNoRedemptionYear03 813
5 years rr_ExpenseExampleNoRedemptionYear05 1,419
10 years rr_ExpenseExampleNoRedemptionYear10 $ 3,056
1 Year rr_AverageAnnualReturnYear01 (19.01%)
5 Years rr_AverageAnnualReturnYear05 (4.15%)
Life of Fund rr_AverageAnnualReturnSinceInception 1.02%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Aug. 19, 2011
Columbia Acorn Emerging Markets Fund | Class Inst  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 1.24%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.52% [2]
Total annual Fund operating expenses rr_ExpensesOverAssets 1.76% [3]
Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.46%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 1.30%
1 year rr_ExpenseExampleYear01 $ 132
3 years rr_ExpenseExampleYear03 509
5 years rr_ExpenseExampleYear05 911
10 years rr_ExpenseExampleYear10 2,035
1 year rr_ExpenseExampleNoRedemptionYear01 132
3 years rr_ExpenseExampleNoRedemptionYear03 509
5 years rr_ExpenseExampleNoRedemptionYear05 911
10 years rr_ExpenseExampleNoRedemptionYear10 $ 2,035
2012 rr_AnnualReturn2012 31.35% [6]
2013 rr_AnnualReturn2013 11.92% [6]
2014 rr_AnnualReturn2014 (4.12%) [6]
2015 rr_AnnualReturn2015 (17.98%) [6]
2016 rr_AnnualReturn2016 (3.04%) [6]
2017 rr_AnnualReturn2017 34.92% [6]
2018 rr_AnnualReturn2018 (17.28%) [6]
Year to Date Return, Label rr_YearToDateReturnLabel Year to Date return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2019
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 8.71%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Mar. 31, 2012
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 18.00%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2015
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (17.21%)
1 Year rr_AverageAnnualReturnYear01 (17.28%)
5 Years rr_AverageAnnualReturnYear05 (3.17%)
Life of Fund rr_AverageAnnualReturnSinceInception 2.05%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Aug. 19, 2011
Columbia Acorn Emerging Markets Fund | Class Inst2  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 1.24%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.46% [2]
Total annual Fund operating expenses rr_ExpensesOverAssets 1.70% [3]
Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.46%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 1.24%
1 year rr_ExpenseExampleYear01 $ 126
3 years rr_ExpenseExampleYear03 491
5 years rr_ExpenseExampleYear05 880
10 years rr_ExpenseExampleYear10 1,970
1 year rr_ExpenseExampleNoRedemptionYear01 126
3 years rr_ExpenseExampleNoRedemptionYear03 491
5 years rr_ExpenseExampleNoRedemptionYear05 880
10 years rr_ExpenseExampleNoRedemptionYear10 $ 1,970
1 Year rr_AverageAnnualReturnYear01 (17.24%)
5 Years rr_AverageAnnualReturnYear05 (3.10%)
Life of Fund rr_AverageAnnualReturnSinceInception 2.12%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Nov. 08, 2012
Columbia Acorn Emerging Markets Fund | Class Inst3  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 1.24%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.41% [2]
Total annual Fund operating expenses rr_ExpensesOverAssets 1.65% [3]
Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.46%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 1.19%
1 year rr_ExpenseExampleYear01 $ 121
3 years rr_ExpenseExampleYear03 475
5 years rr_ExpenseExampleYear05 854
10 years rr_ExpenseExampleYear10 1,916
1 year rr_ExpenseExampleNoRedemptionYear01 121
3 years rr_ExpenseExampleNoRedemptionYear03 475
5 years rr_ExpenseExampleNoRedemptionYear05 854
10 years rr_ExpenseExampleNoRedemptionYear10 $ 1,916
1 Year rr_AverageAnnualReturnYear01 (17.27%)
5 Years rr_AverageAnnualReturnYear05 (3.06%)
Life of Fund rr_AverageAnnualReturnSinceInception 2.15%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Jun. 13, 2013
Columbia Acorn Emerging Markets Fund | returns after taxes on distributions | Class Inst  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (17.57%)
5 Years rr_AverageAnnualReturnYear05 (3.30%)
Life of Fund rr_AverageAnnualReturnSinceInception 1.92%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Aug. 19, 2011
Columbia Acorn Emerging Markets Fund | returns after taxes on distributions and sale of Fund shares | Class Inst  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (9.90%)
5 Years rr_AverageAnnualReturnYear05 (2.26%)
Life of Fund rr_AverageAnnualReturnSinceInception 1.70%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Aug. 19, 2011
Columbia Acorn Emerging Markets Fund | MSCI Emerging Markets SMID Cap Index (Net) (reflects reinvested dividends net of withholding taxes but reflects no deductions for fees, expenses or other taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (15.83%)
5 Years rr_AverageAnnualReturnYear05 0.87%
Life of Fund rr_AverageAnnualReturnSinceInception 0.83%
[1] This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions.
[2] Other expenses have been restated to reflect current transfer agency fees paid by the Fund.
[3] “Total annual Fund operating expenses” include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses.
[4] Columbia Wanger Asset Management, LLC (the Investment Manager) has contractually agreed to waive fees and reimburse certain expenses of the Fund, through April 30, 2020, so that ordinary operating expenses (excluding transaction costs and certain other investment-related expenses, 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 1.55% for Class A shares, 1.30% for Class Adv shares, 2.30% for Class C shares, 1.30% for Class Inst shares, 1.24% for Class Inst2 shares and 1.19% for Class Inst3 shares. This arrangement may only be amended or terminated with approval from the Fund’s Board of Trustees and the Investment Manager.
[5] This charge applies to redemptions within 12 months after purchase, with certain limited exceptions.
[6] Year to Date return as of March 31, 2019: 8.71%
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Columbia Acorn European Fund
SUMMARY OF THE FUND
<b>Investment Objective </b>
Columbia Acorn European FundSM (the Fund) seeks long-term capital appreciation.
<b>Fees and Expenses of the Fund </b>
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. An investor transacting in a class of Fund shares without any front-end sales charge, contingent deferred sales charge, or other asset-based fee for sales or distribution may be required to pay a commission to the financial intermediary for effecting such transactions. Such commission rates are set by the financial intermediary and are not reflected in the tables or the example below. You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 23 of the Fund’s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1.
<b>Shareholder Fees (fees paid directly from your investment)</b>
Shareholder Fees - Columbia Acorn European Fund
Class A
Class C
Class Adv
Class Inst
Class Inst2
Class Inst3
Maximum sales charge (load) imposed on purchases (as a % of offering price) 5.75% none none none none none
Maximum deferred sales charge (load) imposed on redemptions (as a % of the lower of the original purchase price or current net asset value) 1.00% [1] 1.00% [2] none none none none
[1] This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions.
[2] This charge applies to redemptions within 12 months after purchase, with certain limited exceptions.
<b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</b>
Annual Fund Operating Expenses - Columbia Acorn European Fund
Class A
Class Adv
Class C
Class Inst
Class Inst2
Class Inst3
Management fees 1.16% 1.16% 1.16% 1.16% 1.16% 1.16%
Distribution and/or service (12b-1) fees 0.25% none 1.00% none none none
Other expenses 0.40% 0.40% 0.40% 0.40% 0.35% 0.31%
Total annual Fund operating expenses [1] 1.81% 1.56% 2.56% 1.56% 1.51% 1.47%
Fee waivers and/or expense reimbursements [2] (0.36%) (0.36%) (0.36%) (0.36%) (0.37%) (0.38%)
Total annual Fund operating expenses after fee waivers and/or expense reimbursements 1.45% 1.20% 2.20% 1.20% 1.14% 1.09%
[1] “Total annual Fund operating expenses” include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses.
[2] Columbia Wanger Asset Management, LLC (the Investment Manager) has contractually agreed to waive fees and reimburse certain expenses of the Fund, through April 30, 2020, so that ordinary operating expenses (excluding transaction costs and certain other investment-related expenses, 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 1.45% for Class A shares, 1.20% for Class Adv shares, 2.20% for Class C shares, 1.20% for Class Inst shares, 1.14% for Class Inst2 shares and 1.09% for Class Inst3 shares. This arrangement may only be amended or terminated with approval from the Fund's Board of Trustees and the Investment Manager. The fee waivers and/or expense reimbursements shown in the table also reflect the contractual agreement of the Fund's transfer agent, Columbia Management Investment Services Corp. (the Transfer Agent), to waive a portion of its fees through April 30, 2020, such that the Fund's transfer agency fees do not exceed the annual rates of 0.05% of the average daily net assets of Class Inst2 shares and 0.00% of the average daily net assets of Class Inst3 shares.
<b>Example </b>
The following example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example illustrates the hypothetical expenses that you would incur over the time periods indicated, and assumes that:
  • you invest $10,000 in the applicable class of Fund shares for the periods indicated,
  • your investment has a 5% return each year, and
  • the Fund’s total annual operating expenses remain the same as shown in the Annual Fund Operating Expenses table above.
Since the waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire as indicated in the preceding table, they are only reflected in the 1 year example and the first year of the other examples. Although your actual costs may be higher or lower, based on the assumptions listed above, your costs would be:
Expense Example - Columbia Acorn European Fund - USD ($)
1 year
3 years
5 years
10 years
Class A 714 1,079 1,467 2,551
Class Adv 122 457 816 1,826
Class C 323 762 1,328 2,868
Class Inst 122 457 816 1,826
Class Inst2 116 441 789 1,770
Class Inst3 111 428 767 1,725
Expense Example, No Redemption - Columbia Acorn European Fund - USD ($)
1 year
3 years
5 years
10 years
Class A 714 1,079 1,467 2,551
Class Adv 122 457 816 1,826
Class C 223 762 1,328 2,868
Class Inst 122 457 816 1,826
Class Inst2 116 441 789 1,770
Class Inst3 111 428 767 1,725
<b>Portfolio Turnover </b>
The Fund may pay transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 39% of the average value of its portfolio.
<b>Principal Investment Strategies </b>
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 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 (i) 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 initial investment (“Focus Stocks”) and (ii) may also invest in companies with market capitalizations above $5 billion, provided that immediately after that investment a majority of the Fund’s net assets would be invested in Focus Stocks. The Fund may continue to hold, and make additional investments in, Focus Stocks whose market capitalizations have grown to exceed $5 billion, regardless of whether the Fund’s investments in Focus Stocks are a majority of the Fund’s net assets.

Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Investment Manager), believes that stocks of small- and mid-sized companies, 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 Investment Manager'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 Investment Manager typically seeks companies with:
  • A strong business franchise that offers growth potential.
  • Products and services in which the company has a competitive advantage.
  • A stock price the Investment Manager believes is reasonable relative to the assets and earning power of the company.
The Investment Manager may sell a portfolio holding if the security reaches the Investment Manager's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Investment Manager believes other securities are more attractive. The Investment Manager also may sell a portfolio holding to fund redemptions.
<b>Principal Risks </b>
An investment in the Fund involves risks, including those described below. There is no assurance that the Fund will achieve its investment objective and you may lose money. The value of the Fund’s holdings may decline, and the Fund’s net asset value (NAV) and share price may go down. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

Active Management Risk. The Investment Manager’s active management of the Fund could cause the Fund to underperform its benchmark index and/or other funds with similar investment objectives and/or strategies.

Liquidity and Trading Volume Risk. Due to market conditions, including uncertainty regarding the price of a security, it may be difficult for the Fund to buy or sell portfolio securities at a desirable time or price, which could result in investment losses. This risk of portfolio illiquidity is heightened with respect to small- and mid-cap securities, generally, and foreign small- and mid-cap securities in particular. The Fund may have to lower the selling price, liquidate other investments, or forego another, more appealing investment opportunity as a result of illiquidity in the markets. The Fund may also be limited in its ability to execute favorable trades in portfolio securities in response to changes in share prices and fundamentals, and may be forced to dispose of securities under disadvantageous circumstances and at a loss. As the Fund grows in size or, conversely, if it faces significant redemption pressure, these considerations take on increasing significance and may adversely impact performance.

Small- and Mid-Cap Company Securities Risk. Investments in small- and mid-cap companies often involve greater risks than investments in larger, more established companies because small- and mid-cap companies tend to have less predictable earnings and may lack the management experience, financial resources, product diversification and competitive strengths of larger companies. Securities of small- and mid-cap companies may be less liquid and more volatile than the securities of larger companies.

Sector Risk. At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business within one or more economic sectors. Companies in the same sector may be similarly affected by economic, regulatory, political or market events or conditions, which may make the Fund more vulnerable to unfavorable developments in that sector than funds that invest more broadly. Generally, the more the Fund diversifies its investments, the more it spreads risk and potentially reduces the risks of loss and volatility.

Industrials Sector. The Fund may be more susceptible to the particular risks that may affect companies in the industrials sector than if it were invested in a wider variety of companies in unrelated sectors. Companies in the industrials sector are subject to certain risks, including changes in supply and demand for their specific product or service and for industrial sector products in general, including decline in demand for such products due to rapid technological developments and frequent new product introduction. Performance of such companies may be affected by factors including government regulation, world events and economic conditions and risks for environmental damage and product liability claims.

Foreign Securities Risk. Investments in or exposure to foreign securities involve certain risks not associated with investments in or exposure to securities of U.S. companies. Foreign securities subject the Fund to the risks associated with investing in the particular country of an issuer, including political, regulatory, economic, social, diplomatic and other conditions or events (including, for example, military confrontations, war and terrorism), occurring in the country or region, as well as risks associated with less developed custody and settlement practices. Foreign securities may be more volatile and less liquid than securities of U.S. companies, and are subject to the risks associated with potential imposition of economic and other sanctions against a particular foreign country, its nationals or industries or businesses within the country. In addition, foreign governments may impose withholding or other taxes on the Fund’s income, capital gains or proceeds from the disposition of foreign securities, which could reduce the Fund’s return on such securities.

Operational and Settlement Risks of Foreign Securities. The Fund’s foreign securities are generally held outside the United States in the primary market for the securities in the custody of foreign sub-custodians. Some countries have limited governmental oversight and regulation, which increases the risk of corruption and fraud and the possibility of losses to the Fund. In particular, under certain circumstances, foreign securities may settle on a delayed delivery basis, meaning that the Fund may be required to make payment for securities before the Fund has actually received delivery of the securities or deliver securities prior to the receipt of payment. As a result, there is a risk that the security will not be delivered to the Fund or that payment will not be received. Losses can also result from lost, stolen or counterfeit securities; defaults by brokers and banks; failures or defects of the settlement system; or poor and improper record keeping by registrars and issuers.

Share Blocking. In certain non-U.S. markets, an issuer’s securities are blocked from trading for a specified number of days before and, in certain instances, after a shareholder meeting. The blocking period can last up to several weeks. Share blocking may prevent the Fund from buying or selling securities during this period. As a consequence of these restrictions, the Investment Manager, on behalf of the Fund, may abstain from voting proxies in markets that require share blocking.

Emerging Market Securities Risk. Securities issued by foreign governments or companies in emerging market countries, such as China, Russia and certain countries 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 changes or developments in social, political, economic or other conditions. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity (i.e., lower trading volumes and less liquidity) 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 and have fewer trading partners, which makes them more sensitive to world commodity prices and economic downturns in other countries, and some have a higher risk of currency devaluations.

Operational and Settlement Risks of Securities in Emerging Markets. Foreign sub-custodians in emerging markets may be recently organized, lack extensive operating experience or lack effective government oversight or regulation. In addition, there may be legal restrictions or limitations on the ability of the Fund to recover assets held in custody by a foreign sub-custodian in the event of the bankruptcy of the sub-custodian. There may also be a greater risk that settlement may be delayed and that cash or securities of the Fund may be lost because of failures of or defects in the system, including fraud or corruption. Settlement systems in emerging markets also have a higher risk of failed trades.

Risks Related to Currencies and Corporate Actions in Emerging Markets. Risks related to currencies and corporate actions are also greater in emerging market countries than in developed countries. Emerging market currencies may not have an active trading market and are subject to a higher risk of currency devaluations.

Risks Related to Corporate and Securities Laws in Emerging Markets. Securities laws in emerging markets may be relatively new and unsettled and, consequently, there is a risk of rapid and unpredictable change in laws regarding foreign investment, securities regulation, title to securities and shareholder rights.

Foreign Currency Risk. The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar, particularly if the Fund invests a significant percentage of its assets in foreign securities or other assets denominated in currencies other than the U.S. dollar.

Market Risk. The market values of securities or other investments that the Fund holds will fall, sometimes rapidly or unpredictably, or fail to rise. An investment in the Fund could lose money over short or long periods.

Issuer Risk. An issuer in which the Fund invests may perform poorly, and the value of its securities may therefore decline, which may negatively affect the Fund’s performance. Underperformance may be caused by poor management decisions, competitive pressures, breakthroughs in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent disclosures, natural disasters or other events, conditions or factors.

Geographic Focus Risk. The Fund may be particularly susceptible to economic, political, regulatory or other events or conditions affecting issuers and countries within the specific geographic regions in which the Fund invests. The Fund’s NAV may be more volatile than the NAV of a more geographically diversified fund.

Europe. The Fund is particularly susceptible to economic, political, regulatory or other events or conditions affecting issuers and countries in Europe. In addition, the private and public sectors’ debt problems of a single European Union (EU) country can pose significant economic risks to the EU as a whole. As a result, the Fund’s NAV may be more volatile than the NAV of a more geographically diversified fund. If securities of issuers in Europe fall out of favor, it may cause the Fund to underperform other funds that do not focus their investments in this region of the world. The United Kingdom (UK) was scheduled to give notice of its plans to leave the EU (commonly known as "Brexit") effective March 30, 2019, but that deadline was extended by the EU while the British Parliament considers ratification of the withdrawal agreement, and the future and full impact of Brexit remain uncertain. During this period and beyond, the impact of any partial or complete dissolution of the EU on the UK and European economies and the broader global economy could be significant, resulting in negative impacts on currency and financial markets generally, such as increased volatility and illiquidity, and potentially lower economic growth in markets in Europe, which may adversely affect the value of your investment in the Fund.

Growth Securities Risk. Growth securities typically trade at a higher multiple of earnings than other types of equity securities. Accordingly, the market values of growth securities may never reach their expected market value and may decline in price. In addition, growth securities, at times, may not perform as well as value securities or the stock market in general, and may be out of favor with investors for varying periods of time.
<b>Performance Information </b>
The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund’s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund’s returns for the periods shown with the MSCI AC Europe Small Cap Index (Net). The MSCI AC Europe Small Cap Index (Net) captures small-cap representation across 21 countries in Europe. It has 1,075 constituents (as of March 31, 2019) and covers approximately 14% of the free float adjusted market capitalization across each country in Europe.

The performance of one or more share classes shown in the Average Annual Total Returns table below includes the Fund’s Class Inst share returns (adjusted to reflect the higher class-related operating expenses of such classes, where applicable) for periods prior to the indicated inception date of such share classes. Except for differences in fees and expenses, all share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities.

The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. Your actual after-tax returns will depend on your personal tax situation and may differ from those shown in the table. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class Inst shares and will vary for other share classes. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares.

The Fund’s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future. Updated performance information can be obtained by calling toll-free 800.345.6611 or visiting columbiathreadneedleus.com.
<b>Year by Year Total Return (%)<br/>as of December 31 Each Year</b>
Bar Chart
[1] Year to Date return as of March 31, 2019: 16.47%
Best and Worst Quarterly Returns
During the Period Shown in the Bar Chart


Best                                                        1st Quarter 2012                                                     17.69%

Worst                                                     4th Quarter 2018                                                     -19.05%
<b>Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2018)</b>
Average Annual Total Returns - Columbia Acorn European Fund
Share Class Inception Date
1 Year
5 Years
Life of Fund
Class Inst Aug. 19, 2011 (18.57%) 1.02% 7.35%
Class Inst | returns after taxes on distributions Aug. 19, 2011 (18.57%) 0.90% 7.22%
Class Inst | returns after taxes on distributions and sale of Fund shares Aug. 19, 2011 (10.76%) 0.94% 6.01%
Class A Aug. 19, 2011 (23.46%) (0.43%) 6.22%
Class Adv Jun. 25, 2014 (18.53%) 1.04% 7.37%
Class C Aug. 19, 2011 (20.15%) 0.04% 6.30%
Class Inst2 Nov. 08, 2012 (18.44%) 1.07% 7.38%
Class Inst3 Mar. 01, 2017 (18.51%) 1.05% 7.37%
MSCI AC Europe Small Cap Index (Net) (reflects reinvested dividends net of withholding taxes but reflects no deductions for fees, expenses or other taxes)   (20.10%) 1.83% 8.35%

XML 15 R17.htm IDEA: XBRL DOCUMENT v3.19.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName COLUMBIA ACORN TRUST
Prospectus Date rr_ProspectusDate May 01, 2019
Columbia Acorn European Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading SUMMARY OF THE FUND
Objective [Heading] rr_ObjectiveHeading <b>Investment Objective </b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock Columbia Acorn European FundSM (the Fund) seeks long-term capital appreciation.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund </b>
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. An investor transacting in a class of Fund shares without any front-end sales charge, contingent deferred sales charge, or other asset-based fee for sales or distribution may be required to pay a commission to the financial intermediary for effecting such transactions. Such commission rates are set by the financial intermediary and are not reflected in the tables or the example below. You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 23 of the Fund’s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <b>Shareholder Fees (fees paid directly from your investment)</b>
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination April 30, 2020
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover </b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund may pay transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 39% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 39.00%
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 23 of the Fund’s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 50,000
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees “Total annual Fund operating expenses” include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
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 the applicable class of Fund shares for the periods indicated,
  • your investment has a 5% return each year, and
  • the Fund’s total annual operating expenses remain the same as shown in the Annual Fund Operating Expenses table above.
Since the waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire as indicated in the preceding table, they are only reflected in the 1 year example and the first year of the other examples. Although your actual costs may be higher or lower, based on the assumptions listed above, your costs would be:
Strategy [Heading] rr_StrategyHeading <b>Principal Investment Strategies </b>
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 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 (i) 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 initial investment (“Focus Stocks”) and (ii) may also invest in companies with market capitalizations above $5 billion, provided that immediately after that investment a majority of the Fund’s net assets would be invested in Focus Stocks. The Fund may continue to hold, and make additional investments in, Focus Stocks whose market capitalizations have grown to exceed $5 billion, regardless of whether the Fund’s investments in Focus Stocks are a majority of the Fund’s net assets.

Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Investment Manager), believes that stocks of small- and mid-sized companies, 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 Investment Manager'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 Investment Manager typically seeks companies with:
  • A strong business franchise that offers growth potential.
  • Products and services in which the company has a competitive advantage.
  • A stock price the Investment Manager believes is reasonable relative to the assets and earning power of the company.
The Investment Manager may sell a portfolio holding if the security reaches the Investment Manager's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Investment Manager believes other securities are more attractive. The Investment Manager also may sell a portfolio holding to fund redemptions.
Risk [Heading] rr_RiskHeading <b>Principal Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock An investment in the Fund involves risks, including those described below. There is no assurance that the Fund will achieve its investment objective and you may lose money. The value of the Fund’s holdings may decline, and the Fund’s net asset value (NAV) and share price may go down. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

Active Management Risk. The Investment Manager’s active management of the Fund could cause the Fund to underperform its benchmark index and/or other funds with similar investment objectives and/or strategies.

Liquidity and Trading Volume Risk. Due to market conditions, including uncertainty regarding the price of a security, it may be difficult for the Fund to buy or sell portfolio securities at a desirable time or price, which could result in investment losses. This risk of portfolio illiquidity is heightened with respect to small- and mid-cap securities, generally, and foreign small- and mid-cap securities in particular. The Fund may have to lower the selling price, liquidate other investments, or forego another, more appealing investment opportunity as a result of illiquidity in the markets. The Fund may also be limited in its ability to execute favorable trades in portfolio securities in response to changes in share prices and fundamentals, and may be forced to dispose of securities under disadvantageous circumstances and at a loss. As the Fund grows in size or, conversely, if it faces significant redemption pressure, these considerations take on increasing significance and may adversely impact performance.

Small- and Mid-Cap Company Securities Risk. Investments in small- and mid-cap companies often involve greater risks than investments in larger, more established companies because small- and mid-cap companies tend to have less predictable earnings and may lack the management experience, financial resources, product diversification and competitive strengths of larger companies. Securities of small- and mid-cap companies may be less liquid and more volatile than the securities of larger companies.

Sector Risk. At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business within one or more economic sectors. Companies in the same sector may be similarly affected by economic, regulatory, political or market events or conditions, which may make the Fund more vulnerable to unfavorable developments in that sector than funds that invest more broadly. Generally, the more the Fund diversifies its investments, the more it spreads risk and potentially reduces the risks of loss and volatility.

Industrials Sector. The Fund may be more susceptible to the particular risks that may affect companies in the industrials sector than if it were invested in a wider variety of companies in unrelated sectors. Companies in the industrials sector are subject to certain risks, including changes in supply and demand for their specific product or service and for industrial sector products in general, including decline in demand for such products due to rapid technological developments and frequent new product introduction. Performance of such companies may be affected by factors including government regulation, world events and economic conditions and risks for environmental damage and product liability claims.

Foreign Securities Risk. Investments in or exposure to foreign securities involve certain risks not associated with investments in or exposure to securities of U.S. companies. Foreign securities subject the Fund to the risks associated with investing in the particular country of an issuer, including political, regulatory, economic, social, diplomatic and other conditions or events (including, for example, military confrontations, war and terrorism), occurring in the country or region, as well as risks associated with less developed custody and settlement practices. Foreign securities may be more volatile and less liquid than securities of U.S. companies, and are subject to the risks associated with potential imposition of economic and other sanctions against a particular foreign country, its nationals or industries or businesses within the country. In addition, foreign governments may impose withholding or other taxes on the Fund’s income, capital gains or proceeds from the disposition of foreign securities, which could reduce the Fund’s return on such securities.

Operational and Settlement Risks of Foreign Securities. The Fund’s foreign securities are generally held outside the United States in the primary market for the securities in the custody of foreign sub-custodians. Some countries have limited governmental oversight and regulation, which increases the risk of corruption and fraud and the possibility of losses to the Fund. In particular, under certain circumstances, foreign securities may settle on a delayed delivery basis, meaning that the Fund may be required to make payment for securities before the Fund has actually received delivery of the securities or deliver securities prior to the receipt of payment. As a result, there is a risk that the security will not be delivered to the Fund or that payment will not be received. Losses can also result from lost, stolen or counterfeit securities; defaults by brokers and banks; failures or defects of the settlement system; or poor and improper record keeping by registrars and issuers.

Share Blocking. In certain non-U.S. markets, an issuer’s securities are blocked from trading for a specified number of days before and, in certain instances, after a shareholder meeting. The blocking period can last up to several weeks. Share blocking may prevent the Fund from buying or selling securities during this period. As a consequence of these restrictions, the Investment Manager, on behalf of the Fund, may abstain from voting proxies in markets that require share blocking.

Emerging Market Securities Risk. Securities issued by foreign governments or companies in emerging market countries, such as China, Russia and certain countries 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 changes or developments in social, political, economic or other conditions. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity (i.e., lower trading volumes and less liquidity) 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 and have fewer trading partners, which makes them more sensitive to world commodity prices and economic downturns in other countries, and some have a higher risk of currency devaluations.

Operational and Settlement Risks of Securities in Emerging Markets. Foreign sub-custodians in emerging markets may be recently organized, lack extensive operating experience or lack effective government oversight or regulation. In addition, there may be legal restrictions or limitations on the ability of the Fund to recover assets held in custody by a foreign sub-custodian in the event of the bankruptcy of the sub-custodian. There may also be a greater risk that settlement may be delayed and that cash or securities of the Fund may be lost because of failures of or defects in the system, including fraud or corruption. Settlement systems in emerging markets also have a higher risk of failed trades.

Risks Related to Currencies and Corporate Actions in Emerging Markets. Risks related to currencies and corporate actions are also greater in emerging market countries than in developed countries. Emerging market currencies may not have an active trading market and are subject to a higher risk of currency devaluations.

Risks Related to Corporate and Securities Laws in Emerging Markets. Securities laws in emerging markets may be relatively new and unsettled and, consequently, there is a risk of rapid and unpredictable change in laws regarding foreign investment, securities regulation, title to securities and shareholder rights.

Foreign Currency Risk. The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar, particularly if the Fund invests a significant percentage of its assets in foreign securities or other assets denominated in currencies other than the U.S. dollar.

Market Risk. The market values of securities or other investments that the Fund holds will fall, sometimes rapidly or unpredictably, or fail to rise. An investment in the Fund could lose money over short or long periods.

Issuer Risk. An issuer in which the Fund invests may perform poorly, and the value of its securities may therefore decline, which may negatively affect the Fund’s performance. Underperformance may be caused by poor management decisions, competitive pressures, breakthroughs in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent disclosures, natural disasters or other events, conditions or factors.

Geographic Focus Risk. The Fund may be particularly susceptible to economic, political, regulatory or other events or conditions affecting issuers and countries within the specific geographic regions in which the Fund invests. The Fund’s NAV may be more volatile than the NAV of a more geographically diversified fund.

Europe. The Fund is particularly susceptible to economic, political, regulatory or other events or conditions affecting issuers and countries in Europe. In addition, the private and public sectors’ debt problems of a single European Union (EU) country can pose significant economic risks to the EU as a whole. As a result, the Fund’s NAV may be more volatile than the NAV of a more geographically diversified fund. If securities of issuers in Europe fall out of favor, it may cause the Fund to underperform other funds that do not focus their investments in this region of the world. The United Kingdom (UK) was scheduled to give notice of its plans to leave the EU (commonly known as "Brexit") effective March 30, 2019, but that deadline was extended by the EU while the British Parliament considers ratification of the withdrawal agreement, and the future and full impact of Brexit remain uncertain. During this period and beyond, the impact of any partial or complete dissolution of the EU on the UK and European economies and the broader global economy could be significant, resulting in negative impacts on currency and financial markets generally, such as increased volatility and illiquidity, and potentially lower economic growth in markets in Europe, which may adversely affect the value of your investment in the Fund.

Growth Securities Risk. Growth securities typically trade at a higher multiple of earnings than other types of equity securities. Accordingly, the market values of growth securities may never reach their expected market value and may decline in price. In addition, growth securities, at times, may not perform as well as value securities or the stock market in general, and may be out of favor with investors for varying periods of time.
Risk Lose Money [Text] rr_RiskLoseMoney There is no assurance that the Fund will achieve its investment objective and you may lose money.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>Performance Information </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund’s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund’s returns for the periods shown with the MSCI AC Europe Small Cap Index (Net). The MSCI AC Europe Small Cap Index (Net) captures small-cap representation across 21 countries in Europe. It has 1,075 constituents (as of March 31, 2019) and covers approximately 14% of the free float adjusted market capitalization across each country in Europe.

The performance of one or more share classes shown in the Average Annual Total Returns table below includes the Fund’s Class Inst share returns (adjusted to reflect the higher class-related operating expenses of such classes, where applicable) for periods prior to the indicated inception date of such share classes. Except for differences in fees and expenses, all share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities.

The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. Your actual after-tax returns will depend on your personal tax situation and may differ from those shown in the table. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class Inst shares and will vary for other share classes. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares.

The Fund’s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future. Updated performance information can be obtained by calling toll-free 800.345.6611 or visiting columbiathreadneedleus.com.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund’s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund’s returns for the periods shown with the MSCI AC Europe Small Cap Index (Net). The MSCI AC Europe Small Cap Index (Net) captures small-cap representation across 21 countries in Europe. It has 1,075 constituents (as of March 31, 2019) and covers approximately 14% of the free float adjusted market capitalization across each country in Europe.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800.345.6611
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress columbiathreadneedleus.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture <b>The Fund’s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future.</b>
Bar Chart [Heading] rr_BarChartHeading <b>Year by Year Total Return (%)<br/>as of December 31 Each Year</b>
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock Best and Worst Quarterly Returns
During the Period Shown in the Bar Chart


Best                                                        1st Quarter 2012                                                     17.69%

Worst                                                     4th Quarter 2018                                                     -19.05%
Performance Table Heading rr_PerformanceTableHeading <b>Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2018)</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs).
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown The after-tax returns are shown only for Class Inst shares and will vary for other share classes.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares.
Columbia Acorn European Fund | Class A  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther 1.00% [1]
Management fees rr_ManagementFeesOverAssets 1.16%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other expenses rr_OtherExpensesOverAssets 0.40%
Total annual Fund operating expenses rr_ExpensesOverAssets 1.81% [2]
Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.36%) [3]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 1.45%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions.
1 year rr_ExpenseExampleYear01 $ 714
3 years rr_ExpenseExampleYear03 1,079
5 years rr_ExpenseExampleYear05 1,467
10 years rr_ExpenseExampleYear10 2,551
1 year rr_ExpenseExampleNoRedemptionYear01 714
3 years rr_ExpenseExampleNoRedemptionYear03 1,079
5 years rr_ExpenseExampleNoRedemptionYear05 1,467
10 years rr_ExpenseExampleNoRedemptionYear10 $ 2,551
1 Year rr_AverageAnnualReturnYear01 (23.46%)
5 Years rr_AverageAnnualReturnYear05 (0.43%)
Life of Fund rr_AverageAnnualReturnSinceInception 6.22%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Aug. 19, 2011
Columbia Acorn European Fund | Class Adv  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 1.16%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.40%
Total annual Fund operating expenses rr_ExpensesOverAssets 1.56% [2]
Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.36%) [3]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 1.20%
1 year rr_ExpenseExampleYear01 $ 122
3 years rr_ExpenseExampleYear03 457
5 years rr_ExpenseExampleYear05 816
10 years rr_ExpenseExampleYear10 1,826
1 year rr_ExpenseExampleNoRedemptionYear01 122
3 years rr_ExpenseExampleNoRedemptionYear03 457
5 years rr_ExpenseExampleNoRedemptionYear05 816
10 years rr_ExpenseExampleNoRedemptionYear10 $ 1,826
1 Year rr_AverageAnnualReturnYear01 (18.53%)
5 Years rr_AverageAnnualReturnYear05 1.04%
Life of Fund rr_AverageAnnualReturnSinceInception 7.37%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Jun. 25, 2014
Columbia Acorn European Fund | Class C  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther 1.00% [4]
Management fees rr_ManagementFeesOverAssets 1.16%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other expenses rr_OtherExpensesOverAssets 0.40%
Total annual Fund operating expenses rr_ExpensesOverAssets 2.56% [2]
Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.36%) [3]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 2.20%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock This charge applies to redemptions within 12 months after purchase, with certain limited exceptions.
1 year rr_ExpenseExampleYear01 $ 323
3 years rr_ExpenseExampleYear03 762
5 years rr_ExpenseExampleYear05 1,328
10 years rr_ExpenseExampleYear10 2,868
1 year rr_ExpenseExampleNoRedemptionYear01 223
3 years rr_ExpenseExampleNoRedemptionYear03 762
5 years rr_ExpenseExampleNoRedemptionYear05 1,328
10 years rr_ExpenseExampleNoRedemptionYear10 $ 2,868
1 Year rr_AverageAnnualReturnYear01 (20.15%)
5 Years rr_AverageAnnualReturnYear05 0.04%
Life of Fund rr_AverageAnnualReturnSinceInception 6.30%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Aug. 19, 2011
Columbia Acorn European Fund | Class Inst  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 1.16%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.40%
Total annual Fund operating expenses rr_ExpensesOverAssets 1.56% [2]
Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.36%) [3]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 1.20%
1 year rr_ExpenseExampleYear01 $ 122
3 years rr_ExpenseExampleYear03 457
5 years rr_ExpenseExampleYear05 816
10 years rr_ExpenseExampleYear10 1,826
1 year rr_ExpenseExampleNoRedemptionYear01 122
3 years rr_ExpenseExampleNoRedemptionYear03 457
5 years rr_ExpenseExampleNoRedemptionYear05 816
10 years rr_ExpenseExampleNoRedemptionYear10 $ 1,826
2012 rr_AnnualReturn2012 25.66% [5]
2013 rr_AnnualReturn2013 33.98% [5]
2014 rr_AnnualReturn2014 (7.52%) [5]
2015 rr_AnnualReturn2015 4.43% [5]
2016 rr_AnnualReturn2016 (3.29%) [5]
2017 rr_AnnualReturn2017 38.35% [5]
2018 rr_AnnualReturn2018 (18.57%) [5]
Year to Date Return, Label rr_YearToDateReturnLabel Year to Date return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2019
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 16.47%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Mar. 31, 2012
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 17.69%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2018
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (19.05%)
1 Year rr_AverageAnnualReturnYear01 (18.57%)
5 Years rr_AverageAnnualReturnYear05 1.02%
Life of Fund rr_AverageAnnualReturnSinceInception 7.35%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Aug. 19, 2011
Columbia Acorn European Fund | Class Inst2  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 1.16%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.35%
Total annual Fund operating expenses rr_ExpensesOverAssets 1.51% [2]
Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.37%) [3]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 1.14%
1 year rr_ExpenseExampleYear01 $ 116
3 years rr_ExpenseExampleYear03 441
5 years rr_ExpenseExampleYear05 789
10 years rr_ExpenseExampleYear10 1,770
1 year rr_ExpenseExampleNoRedemptionYear01 116
3 years rr_ExpenseExampleNoRedemptionYear03 441
5 years rr_ExpenseExampleNoRedemptionYear05 789
10 years rr_ExpenseExampleNoRedemptionYear10 $ 1,770
1 Year rr_AverageAnnualReturnYear01 (18.44%)
5 Years rr_AverageAnnualReturnYear05 1.07%
Life of Fund rr_AverageAnnualReturnSinceInception 7.38%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Nov. 08, 2012
Columbia Acorn European Fund | Class Inst3  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 1.16%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.31%
Total annual Fund operating expenses rr_ExpensesOverAssets 1.47% [2]
Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.38%) [3]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 1.09%
1 year rr_ExpenseExampleYear01 $ 111
3 years rr_ExpenseExampleYear03 428
5 years rr_ExpenseExampleYear05 767
10 years rr_ExpenseExampleYear10 1,725
1 year rr_ExpenseExampleNoRedemptionYear01 111
3 years rr_ExpenseExampleNoRedemptionYear03 428
5 years rr_ExpenseExampleNoRedemptionYear05 767
10 years rr_ExpenseExampleNoRedemptionYear10 $ 1,725
1 Year rr_AverageAnnualReturnYear01 (18.51%)
5 Years rr_AverageAnnualReturnYear05 1.05%
Life of Fund rr_AverageAnnualReturnSinceInception 7.37%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Mar. 01, 2017
Columbia Acorn European Fund | returns after taxes on distributions | Class Inst  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (18.57%)
5 Years rr_AverageAnnualReturnYear05 0.90%
Life of Fund rr_AverageAnnualReturnSinceInception 7.22%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Aug. 19, 2011
Columbia Acorn European Fund | returns after taxes on distributions and sale of Fund shares | Class Inst  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (10.76%)
5 Years rr_AverageAnnualReturnYear05 0.94%
Life of Fund rr_AverageAnnualReturnSinceInception 6.01%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Aug. 19, 2011
Columbia Acorn European Fund | MSCI AC Europe Small Cap Index (Net) (reflects reinvested dividends net of withholding taxes but reflects no deductions for fees, expenses or other taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (20.10%)
5 Years rr_AverageAnnualReturnYear05 1.83%
Life of Fund rr_AverageAnnualReturnSinceInception 8.35%
[1] This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions.
[2] “Total annual Fund operating expenses” include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses.
[3] Columbia Wanger Asset Management, LLC (the Investment Manager) has contractually agreed to waive fees and reimburse certain expenses of the Fund, through April 30, 2020, so that ordinary operating expenses (excluding transaction costs and certain other investment-related expenses, 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 1.45% for Class A shares, 1.20% for Class Adv shares, 2.20% for Class C shares, 1.20% for Class Inst shares, 1.14% for Class Inst2 shares and 1.09% for Class Inst3 shares. This arrangement may only be amended or terminated with approval from the Fund's Board of Trustees and the Investment Manager. The fee waivers and/or expense reimbursements shown in the table also reflect the contractual agreement of the Fund's transfer agent, Columbia Management Investment Services Corp. (the Transfer Agent), to waive a portion of its fees through April 30, 2020, such that the Fund's transfer agency fees do not exceed the annual rates of 0.05% of the average daily net assets of Class Inst2 shares and 0.00% of the average daily net assets of Class Inst3 shares.
[4] This charge applies to redemptions within 12 months after purchase, with certain limited exceptions.
[5] Year to Date return as of March 31, 2019: 16.47%
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Columbia Acorn Fund
SUMMARY OF THE FUND
<b>Investment Objective</b>
Columbia Acorn® Fund (the Fund) seeks long-term capital appreciation.
<b>Fees and Expenses of the Fund</b>
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. An investor transacting in a class of Fund shares without any front-end sales charge, contingent deferred sales charge, or other asset-based fee for sales or distribution may be required to pay a commission to the financial intermediary for effecting such transactions. Such commission rates are set by the financial intermediary and are not reflected in the tables or the example below. You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 23 of the Fund’s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1.
<b>Shareholder Fees (fees paid directly from your investment) </b>
Shareholder Fees - Columbia Acorn Fund
Class A
Class C
Class Adv
Class Inst
Class Inst2
Class Inst3
Maximum sales charge (load) imposed on purchases (as a % of offering price) 5.75% none none none none none
Maximum deferred sales charge (load) imposed on redemptions (as a % of the lower of the original purchase price or current net asset value) 1.00% [1] 1.00% [2] none none none none
[1] This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions.
[2] This charge applies to redemptions within 12 months after purchase, with certain limited exceptions.
<b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) </b>
Annual Fund Operating Expenses - Columbia Acorn Fund
Class A
Class Adv
Class C
Class Inst
Class Inst2
Class Inst3
Management fees 0.67% 0.67% 0.67% 0.67% 0.67% 0.67%
Distribution and/or service (12b-1) fees 0.25% none 1.00% none none none
Other expenses [1] 0.18% 0.18% 0.18% 0.18% 0.14% 0.10%
Acquired fund fees and expenses 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
Total annual Fund operating expenses [2] 1.12% 0.87% 1.87% 0.87% 0.83% 0.79%
Less: Fee waivers and/or expense reimbursements [3] (0.01%) (0.01%) (0.01%) (0.01%) (0.01%) (0.01%)
Total annual Fund operating expenses after fee waivers and/or expense reimbursements 1.11% 0.86% 1.86% 0.86% 0.82% 0.78%
[1] Other expenses have been restated to reflect current transfer agency fees paid by the Fund.
[2] “Total annual Fund operating expenses” include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses.
[3] Columbia Wanger Asset Management, LLC (the Investment Manager) has contractually agreed to waive fees and reimburse certain expenses of the Fund, through April 30, 2020, so that ordinary operating expenses (excluding transaction costs and certain other investment-related expenses, interest and fees on borrowings, if any) do not exceed the annual rates of 1.11% for Class A shares, 0.86% for Class Adv shares, 1.86% for Class C shares, 0.86% for Class Inst shares, 0.82% for Class Inst2 shares and 0.78% for Class Inst3 shares. This arrangement may only be amended or terminated with approval from the Fund’s Board of Trustees and the Investment Manager.
<b>Example</b>
The following example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example illustrates the hypothetical expenses that you would incur over the time periods indicated, and assumes that:
  • you invest $10,000 in the applicable class of Fund shares for the periods indicated,
  • your investment has a 5% return each year, and
  • the Fund’s total annual operating expenses remain the same as shown in the Annual Fund Operating Expenses table above.
Since the waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire as indicated in the preceding table, they are only reflected in the 1 year example and the first year of the other examples. Although your actual costs may be higher or lower, based on the assumptions listed above, your costs would be:
Expense Example - Columbia Acorn Fund - USD ($)
1 year
3 years
5 years
10 years
Class A 682 910 1,156 1,859
Class Adv 88 277 481 1,072
Class C 289 587 1,010 2,190
Class Inst 88 277 481 1,072
Class Inst2 84 264 460 1,024
Class Inst3 80 251 438 977
Expense Example, No Redemption - Columbia Acorn Fund - USD ($)
1 year
3 years
5 years
10 years
Class A 682 910 1,156 1,859
Class Adv 88 277 481 1,072
Class C 189 587 1,010 2,190
Class Inst 88 277 481 1,072
Class Inst2 84 264 460 1,024
Class Inst3 80 251 438 977
<b>Portfolio Turnover</b>
The Fund may pay transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 66% of the average value of its portfolio.
<b>Principal Investment Strategies</b>
Under normal circumstances, the Fund (i) 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 initial investment (“Focus Stocks”) and (ii) may also invest in companies with market capitalizations above $5 billion, provided that immediately after that investment a majority of the Fund’s net assets would be invested in Focus Stocks. The Fund may continue to hold, and make additional investments in, Focus Stocks whose market capitalizations have grown to exceed $5 billion, regardless of whether the Fund’s investments in Focus Stocks are a majority of the Fund’s net assets.

Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Investment Manager), believes that stocks of small- and mid-sized companies, 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 invests the majority of its assets in U.S. companies, but also may invest up to 33% of its total assets in foreign companies in developed markets (for example, Japan, Canada and the United Kingdom) and in emerging markets (for example, China, India and Brazil).

The Investment Manager typically seeks companies with:
  • A strong business franchise that offers growth potential.
  • Products and services in which the company has a competitive advantage.
  • A stock price the Investment Manager believes is reasonable relative to the assets and earning power of the company.
The Investment Manager may sell a portfolio holding if the security reaches the Investment Manager's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Investment Manager believes other securities are more attractive. The Investment Manager also may sell a portfolio holding to fund redemptions.
<b>Principal Risks</b>
An investment in the Fund involves risks, including those described below. There is no assurance that the Fund will achieve its investment objective and you may lose money. The value of the Fund’s holdings may decline, and the Fund’s net asset value (NAV) and share price may go down. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

Active Management Risk. The Investment Manager’s active management of the Fund could cause the Fund to underperform its benchmark index and/or other funds with similar investment objectives and/or strategies.

Small- and Mid-Cap Company Securities Risk. Investments in small- and mid-cap companies often involve greater risks than investments in larger, more established companies because small- and mid-cap companies tend to have less predictable earnings and may lack the management experience, financial resources, product diversification and competitive strengths of larger companies. Securities of small- and mid-cap companies may be less liquid and more volatile than the securities of larger companies.

Issuer Risk. An issuer in which the Fund invests may perform poorly, and the value of its securities may therefore decline, which may negatively affect the Fund’s performance. Underperformance may be caused by poor management decisions, competitive pressures, breakthroughs in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent disclosures, natural disasters or other events, conditions or factors.

Market Risk. The market values of securities or other investments that the Fund holds will fall, sometimes rapidly or unpredictably, or fail to rise. An investment in the Fund could lose money over short or long periods.

Growth Securities Risk. Growth securities typically trade at a higher multiple of earnings than other types of equity securities. Accordingly, the market values of growth securities may never reach their expected market value and may decline in price. In addition, growth securities, at times, may not perform as well as value securities or the stock market in general, and may be out of favor with investors for varying periods of time.

Foreign Securities Risk. Investments in or exposure to foreign securities involve certain risks not associated with investments in or exposure to securities of U.S. companies. Foreign securities subject the Fund to the risks associated with investing in the particular country of an issuer, including political, regulatory, economic, social, diplomatic and other conditions or events (including, for example, military confrontations, war and terrorism), occurring in the country or region, as well as risks associated with less developed custody and settlement practices. Foreign securities may be more volatile and less liquid than securities of U.S. companies, and are subject to the risks associated with potential imposition of economic and other sanctions against a particular foreign country, its nationals or industries or businesses within the country. In addition, foreign governments may impose withholding or other taxes on the Fund’s income, capital gains or proceeds from the disposition of foreign securities, which could reduce the Fund’s return on such securities.

Operational and Settlement Risks of Foreign Securities. The Fund’s foreign securities are generally held outside the United States in the primary market for the securities in the custody of foreign sub-custodians. Some countries have limited governmental oversight and regulation, which increases the risk of corruption and fraud and the possibility of losses to the Fund. In particular, under certain circumstances, foreign securities may settle on a delayed delivery basis, meaning that the Fund may be required to make payment for securities before the Fund has actually received delivery of the securities or deliver securities prior to the receipt of payment. As a result, there is a risk that the security will not be delivered to the Fund or that payment will not be received. Losses can also result from lost, stolen or counterfeit securities; defaults by brokers and banks; failures or defects of the settlement system; or poor and improper record keeping by registrars and issuers.

Share Blocking. In certain non-U.S. markets, an issuer’s securities are blocked from trading for a specified number of days before and, in certain instances, after a shareholder meeting. The blocking period can last up to several weeks. Share blocking may prevent the Fund from buying or selling securities during this period. As a consequence of these restrictions, the Investment Manager, on behalf of the Fund, may abstain from voting proxies in markets that require share blocking.

Emerging Market Securities Risk. Securities issued by foreign governments or companies in emerging market countries, such as China, Russia and certain countries 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 changes or developments in social, political, economic or other conditions. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity (i.e., lower trading volumes and less liquidity) 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 and have fewer trading partners, which makes them more sensitive to world commodity prices and economic downturns in other countries, and some have a higher risk of currency devaluations.

Operational and Settlement Risks of Securities in Emerging Markets. Foreign sub-custodians in emerging markets may be recently organized, lack extensive operating experience or lack effective government oversight or regulation. In addition, there may be legal restrictions or limitations on the ability of the Fund to recover assets held in custody by a foreign sub-custodian in the event of the bankruptcy of the sub-custodian. There may also be a greater risk that settlement may be delayed and that cash or securities of the Fund may be lost because of failures of or defects in the system, including fraud or corruption. Settlement systems in emerging markets also have a higher risk of failed trades.

Risks Related to Currencies and Corporate Actions in Emerging Markets. Risks related to currencies and corporate actions are also greater in emerging market countries than in developed countries. Emerging market currencies may not have an active trading market and are subject to a higher risk of currency devaluations.

Risks Related to Corporate and Securities Laws in Emerging Markets. Securities laws in emerging markets may be relatively new and unsettled and, consequently, there is a risk of rapid and unpredictable change in laws regarding foreign investment, securities regulation, title to securities and shareholder rights.

Liquidity and Trading Volume Risk. Because the Fund may invest a percentage of its assets in foreign securities, it may be subject to the liquidity and trading volume risks associated with international investing. Due to market conditions, including uncertainty regarding the price of a security, it may be difficult for the Fund to buy or sell foreign portfolio securities at a desirable time or price, which could result in investment losses and may affect the value of your investment in the Fund. This risk of portfolio illiquidity is heightened with respect to small- and mid-cap securities, generally, and foreign small- and mid-cap securities in particular. The Fund may have to lower the selling price, liquidate other investments, or forego another, more appealing investment opportunity as a result of illiquidity in the markets. The Fund may also be limited in its ability to execute favorable trades in foreign portfolio securities in response to changes in share prices and fundamentals, and may be forced to dispose of securities under disadvantageous circumstances and at a loss. As the Fund grows in size or, conversely, if it faces significant redemption pressure, these considerations take on increasing significance and may adversely impact performance.

Foreign Currency Risk. The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar, particularly if the Fund invests a significant percentage of its assets in foreign securities or other assets denominated in currencies other than the U.S. dollar.

Sector Risk. At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business within one or more economic sectors. Companies in the same sector may be similarly affected by economic, regulatory, political or market events or conditions, which may make the Fund more vulnerable to unfavorable developments in that sector than funds that invest more broadly. Generally, the more the Fund diversifies its investments, the more it spreads risk and potentially reduces the risks of loss and volatility.
<b>Performance Information</b>
The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund’s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund’s returns for the periods shown with the Russell 2500 Growth Index.

The performance of one or more share classes shown in the Average Annual Total Returns table below includes the Fund’s Class Inst share returns (adjusted to reflect the higher class-related operating expenses of such classes, where applicable) for periods prior to the indicated inception date of such share classes. Except for differences in fees and expenses, all share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities.

The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. Your actual after-tax returns will depend on your personal tax situation and may differ from those shown in the table. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class Inst shares and will vary for other share classes. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares.

The Fund’s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future. Updated performance information can be obtained by calling toll-free 800.345.6611 or visiting columbiathreadneedleus.com.
<b>Year by Year Total Return (%)<br/> as of December 31 Each Year
Bar Chart
[1] Year to Date return as of March 31, 2019: 16.56%
Best and Worst Quarterly Returns
During the Period Shown in the Bar Chart


Best                                                        2nd Quarter 2009                                                      20.90%

Worst                                                     4th Quarter 2018                                                      -19.76%
<b>Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2018)</b>
Average Annual Total Returns - Columbia Acorn Fund
Share Class Inception Date
1 Year
5 Years
10 Years
Class Inst Jun. 10, 1970 (5.09%) 5.42% 12.93%
Class Inst | returns after taxes on distributions Jun. 10, 1970 (7.76%) (0.55%) 9.29%
Class Inst | returns after taxes on distributions and sale of Fund shares Jun. 10, 1970 (0.95%) 3.55% 10.43%
Class A Oct. 16, 2000 (10.68%) 3.92% 11.96%
Class Adv Nov. 08, 2012 (5.00%) 5.38% 12.90%
Class C Oct. 16, 2000 (6.58%) 4.39% 11.79%
Class Inst2 Nov. 08, 2012 (5.00%) 5.45% 12.95%
Class Inst3 Nov. 08, 2012 (4.98%) 5.51% 12.99%
Russell 2500 Growth Index (reflects no deductions for fees, expenses or taxes)   (7.47%) 6.19% 14.76%

XML 18 R25.htm IDEA: XBRL DOCUMENT v3.19.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName COLUMBIA ACORN TRUST
Prospectus Date rr_ProspectusDate May 01, 2019
Columbia Acorn Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading SUMMARY OF THE FUND
Objective [Heading] rr_ObjectiveHeading <b>Investment Objective</b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock Columbia Acorn® Fund (the Fund) seeks long-term capital appreciation.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund</b>
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. An investor transacting in a class of Fund shares without any front-end sales charge, contingent deferred sales charge, or other asset-based fee for sales or distribution may be required to pay a commission to the financial intermediary for effecting such transactions. Such commission rates are set by the financial intermediary and are not reflected in the tables or the example below. You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 23 of the Fund’s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <b>Shareholder Fees (fees paid directly from your investment) </b>
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) </b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination April 30, 2020
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover</b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund may pay transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 66% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 66.00%
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 23 of the Fund’s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 50,000
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent Other expenses have been restated to reflect current transfer agency fees paid by the Fund.
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees “Total annual Fund operating expenses” include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example</b>
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 the applicable class of Fund shares for the periods indicated,
  • your investment has a 5% return each year, and
  • the Fund’s total annual operating expenses remain the same as shown in the Annual Fund Operating Expenses table above.
Since the waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire as indicated in the preceding table, they are only reflected in the 1 year example and the first year of the other examples. Although your actual costs may be higher or lower, based on the assumptions listed above, your costs would be:
Strategy [Heading] rr_StrategyHeading <b>Principal Investment Strategies</b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock Under normal circumstances, the Fund (i) 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 initial investment (“Focus Stocks”) and (ii) may also invest in companies with market capitalizations above $5 billion, provided that immediately after that investment a majority of the Fund’s net assets would be invested in Focus Stocks. The Fund may continue to hold, and make additional investments in, Focus Stocks whose market capitalizations have grown to exceed $5 billion, regardless of whether the Fund’s investments in Focus Stocks are a majority of the Fund’s net assets.

Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Investment Manager), believes that stocks of small- and mid-sized companies, 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 invests the majority of its assets in U.S. companies, but also may invest up to 33% of its total assets in foreign companies in developed markets (for example, Japan, Canada and the United Kingdom) and in emerging markets (for example, China, India and Brazil).

The Investment Manager typically seeks companies with:
  • A strong business franchise that offers growth potential.
  • Products and services in which the company has a competitive advantage.
  • A stock price the Investment Manager believes is reasonable relative to the assets and earning power of the company.
The Investment Manager may sell a portfolio holding if the security reaches the Investment Manager's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Investment Manager believes other securities are more attractive. The Investment Manager also may sell a portfolio holding to fund redemptions.
Risk [Heading] rr_RiskHeading <b>Principal Risks</b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock An investment in the Fund involves risks, including those described below. There is no assurance that the Fund will achieve its investment objective and you may lose money. The value of the Fund’s holdings may decline, and the Fund’s net asset value (NAV) and share price may go down. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

Active Management Risk. The Investment Manager’s active management of the Fund could cause the Fund to underperform its benchmark index and/or other funds with similar investment objectives and/or strategies.

Small- and Mid-Cap Company Securities Risk. Investments in small- and mid-cap companies often involve greater risks than investments in larger, more established companies because small- and mid-cap companies tend to have less predictable earnings and may lack the management experience, financial resources, product diversification and competitive strengths of larger companies. Securities of small- and mid-cap companies may be less liquid and more volatile than the securities of larger companies.

Issuer Risk. An issuer in which the Fund invests may perform poorly, and the value of its securities may therefore decline, which may negatively affect the Fund’s performance. Underperformance may be caused by poor management decisions, competitive pressures, breakthroughs in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent disclosures, natural disasters or other events, conditions or factors.

Market Risk. The market values of securities or other investments that the Fund holds will fall, sometimes rapidly or unpredictably, or fail to rise. An investment in the Fund could lose money over short or long periods.

Growth Securities Risk. Growth securities typically trade at a higher multiple of earnings than other types of equity securities. Accordingly, the market values of growth securities may never reach their expected market value and may decline in price. In addition, growth securities, at times, may not perform as well as value securities or the stock market in general, and may be out of favor with investors for varying periods of time.

Foreign Securities Risk. Investments in or exposure to foreign securities involve certain risks not associated with investments in or exposure to securities of U.S. companies. Foreign securities subject the Fund to the risks associated with investing in the particular country of an issuer, including political, regulatory, economic, social, diplomatic and other conditions or events (including, for example, military confrontations, war and terrorism), occurring in the country or region, as well as risks associated with less developed custody and settlement practices. Foreign securities may be more volatile and less liquid than securities of U.S. companies, and are subject to the risks associated with potential imposition of economic and other sanctions against a particular foreign country, its nationals or industries or businesses within the country. In addition, foreign governments may impose withholding or other taxes on the Fund’s income, capital gains or proceeds from the disposition of foreign securities, which could reduce the Fund’s return on such securities.

Operational and Settlement Risks of Foreign Securities. The Fund’s foreign securities are generally held outside the United States in the primary market for the securities in the custody of foreign sub-custodians. Some countries have limited governmental oversight and regulation, which increases the risk of corruption and fraud and the possibility of losses to the Fund. In particular, under certain circumstances, foreign securities may settle on a delayed delivery basis, meaning that the Fund may be required to make payment for securities before the Fund has actually received delivery of the securities or deliver securities prior to the receipt of payment. As a result, there is a risk that the security will not be delivered to the Fund or that payment will not be received. Losses can also result from lost, stolen or counterfeit securities; defaults by brokers and banks; failures or defects of the settlement system; or poor and improper record keeping by registrars and issuers.

Share Blocking. In certain non-U.S. markets, an issuer’s securities are blocked from trading for a specified number of days before and, in certain instances, after a shareholder meeting. The blocking period can last up to several weeks. Share blocking may prevent the Fund from buying or selling securities during this period. As a consequence of these restrictions, the Investment Manager, on behalf of the Fund, may abstain from voting proxies in markets that require share blocking.

Emerging Market Securities Risk. Securities issued by foreign governments or companies in emerging market countries, such as China, Russia and certain countries 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 changes or developments in social, political, economic or other conditions. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity (i.e., lower trading volumes and less liquidity) 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 and have fewer trading partners, which makes them more sensitive to world commodity prices and economic downturns in other countries, and some have a higher risk of currency devaluations.

Operational and Settlement Risks of Securities in Emerging Markets. Foreign sub-custodians in emerging markets may be recently organized, lack extensive operating experience or lack effective government oversight or regulation. In addition, there may be legal restrictions or limitations on the ability of the Fund to recover assets held in custody by a foreign sub-custodian in the event of the bankruptcy of the sub-custodian. There may also be a greater risk that settlement may be delayed and that cash or securities of the Fund may be lost because of failures of or defects in the system, including fraud or corruption. Settlement systems in emerging markets also have a higher risk of failed trades.

Risks Related to Currencies and Corporate Actions in Emerging Markets. Risks related to currencies and corporate actions are also greater in emerging market countries than in developed countries. Emerging market currencies may not have an active trading market and are subject to a higher risk of currency devaluations.

Risks Related to Corporate and Securities Laws in Emerging Markets. Securities laws in emerging markets may be relatively new and unsettled and, consequently, there is a risk of rapid and unpredictable change in laws regarding foreign investment, securities regulation, title to securities and shareholder rights.

Liquidity and Trading Volume Risk. Because the Fund may invest a percentage of its assets in foreign securities, it may be subject to the liquidity and trading volume risks associated with international investing. Due to market conditions, including uncertainty regarding the price of a security, it may be difficult for the Fund to buy or sell foreign portfolio securities at a desirable time or price, which could result in investment losses and may affect the value of your investment in the Fund. This risk of portfolio illiquidity is heightened with respect to small- and mid-cap securities, generally, and foreign small- and mid-cap securities in particular. The Fund may have to lower the selling price, liquidate other investments, or forego another, more appealing investment opportunity as a result of illiquidity in the markets. The Fund may also be limited in its ability to execute favorable trades in foreign portfolio securities in response to changes in share prices and fundamentals, and may be forced to dispose of securities under disadvantageous circumstances and at a loss. As the Fund grows in size or, conversely, if it faces significant redemption pressure, these considerations take on increasing significance and may adversely impact performance.

Foreign Currency Risk. The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar, particularly if the Fund invests a significant percentage of its assets in foreign securities or other assets denominated in currencies other than the U.S. dollar.

Sector Risk. At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business within one or more economic sectors. Companies in the same sector may be similarly affected by economic, regulatory, political or market events or conditions, which may make the Fund more vulnerable to unfavorable developments in that sector than funds that invest more broadly. Generally, the more the Fund diversifies its investments, the more it spreads risk and potentially reduces the risks of loss and volatility.
Risk Lose Money [Text] rr_RiskLoseMoney There is no assurance that the Fund will achieve its investment objective and you may lose money.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>Performance Information</b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund’s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund’s returns for the periods shown with the Russell 2500 Growth Index.

The performance of one or more share classes shown in the Average Annual Total Returns table below includes the Fund’s Class Inst share returns (adjusted to reflect the higher class-related operating expenses of such classes, where applicable) for periods prior to the indicated inception date of such share classes. Except for differences in fees and expenses, all share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities.

The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. Your actual after-tax returns will depend on your personal tax situation and may differ from those shown in the table. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class Inst shares and will vary for other share classes. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares.

The Fund’s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future. Updated performance information can be obtained by calling toll-free 800.345.6611 or visiting columbiathreadneedleus.com.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund’s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund’s returns for the periods shown with the Russell 2500 Growth Index.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800.345.6611
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress columbiathreadneedleus.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture <b>The Fund’s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future.</b>
Bar Chart [Heading] rr_BarChartHeading <b>Year by Year Total Return (%)<br/> as of December 31 Each Year
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock Best and Worst Quarterly Returns
During the Period Shown in the Bar Chart


Best                                                        2nd Quarter 2009                                                      20.90%

Worst                                                     4th Quarter 2018                                                      -19.76%
Performance Table Heading rr_PerformanceTableHeading <b>Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2018)</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs).
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown The after-tax returns are shown only for Class Inst shares and will vary for other share classes.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares.
Columbia Acorn Fund | Class A  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther 1.00% [1]
Management fees rr_ManagementFeesOverAssets 0.67%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other expenses rr_OtherExpensesOverAssets 0.18% [2]
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.02%
Total annual Fund operating expenses rr_ExpensesOverAssets 1.12% [3]
Less: Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.01%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 1.11%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions.
1 year rr_ExpenseExampleYear01 $ 682
3 years rr_ExpenseExampleYear03 910
5 years rr_ExpenseExampleYear05 1,156
10 years rr_ExpenseExampleYear10 1,859
1 year rr_ExpenseExampleNoRedemptionYear01 682
3 years rr_ExpenseExampleNoRedemptionYear03 910
5 years rr_ExpenseExampleNoRedemptionYear05 1,156
10 years rr_ExpenseExampleNoRedemptionYear10 $ 1,859
1 Year rr_AverageAnnualReturnYear01 (10.68%)
5 Years rr_AverageAnnualReturnYear05 3.92%
10 Years rr_AverageAnnualReturnYear10 11.96%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Oct. 16, 2000
Columbia Acorn Fund | Class Adv  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.67%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.18% [2]
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.02%
Total annual Fund operating expenses rr_ExpensesOverAssets 0.87% [3]
Less: Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.01%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 0.86%
1 year rr_ExpenseExampleYear01 $ 88
3 years rr_ExpenseExampleYear03 277
5 years rr_ExpenseExampleYear05 481
10 years rr_ExpenseExampleYear10 1,072
1 year rr_ExpenseExampleNoRedemptionYear01 88
3 years rr_ExpenseExampleNoRedemptionYear03 277
5 years rr_ExpenseExampleNoRedemptionYear05 481
10 years rr_ExpenseExampleNoRedemptionYear10 $ 1,072
1 Year rr_AverageAnnualReturnYear01 (5.00%)
5 Years rr_AverageAnnualReturnYear05 5.38%
10 Years rr_AverageAnnualReturnYear10 12.90%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Nov. 08, 2012
Columbia Acorn Fund | Class C  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther 1.00% [5]
Management fees rr_ManagementFeesOverAssets 0.67%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other expenses rr_OtherExpensesOverAssets 0.18% [2]
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.02%
Total annual Fund operating expenses rr_ExpensesOverAssets 1.87% [3]
Less: Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.01%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 1.86%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock This charge applies to redemptions within 12 months after purchase, with certain limited exceptions.
1 year rr_ExpenseExampleYear01 $ 289
3 years rr_ExpenseExampleYear03 587
5 years rr_ExpenseExampleYear05 1,010
10 years rr_ExpenseExampleYear10 2,190
1 year rr_ExpenseExampleNoRedemptionYear01 189
3 years rr_ExpenseExampleNoRedemptionYear03 587
5 years rr_ExpenseExampleNoRedemptionYear05 1,010
10 years rr_ExpenseExampleNoRedemptionYear10 $ 2,190
1 Year rr_AverageAnnualReturnYear01 (6.58%)
5 Years rr_AverageAnnualReturnYear05 4.39%
10 Years rr_AverageAnnualReturnYear10 11.79%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Oct. 16, 2000
Columbia Acorn Fund | Class Inst  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.67%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.18% [2]
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.02%
Total annual Fund operating expenses rr_ExpensesOverAssets 0.87% [3]
Less: Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.01%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 0.86%
1 year rr_ExpenseExampleYear01 $ 88
3 years rr_ExpenseExampleYear03 277
5 years rr_ExpenseExampleYear05 481
10 years rr_ExpenseExampleYear10 1,072
1 year rr_ExpenseExampleNoRedemptionYear01 88
3 years rr_ExpenseExampleNoRedemptionYear03 277
5 years rr_ExpenseExampleNoRedemptionYear05 481
10 years rr_ExpenseExampleNoRedemptionYear10 $ 1,072
2009 rr_AnnualReturn2009 39.65% [6]
2010 rr_AnnualReturn2010 26.00% [6]
2011 rr_AnnualReturn2011 (4.61%) [6]
2012 rr_AnnualReturn2012 17.93% [6]
2013 rr_AnnualReturn2013 30.90% [6]
2014 rr_AnnualReturn2014 0.82% [6]
2015 rr_AnnualReturn2015 (1.57%) [6]
2016 rr_AnnualReturn2016 10.39% [6]
2017 rr_AnnualReturn2017 25.24% [6]
2018 rr_AnnualReturn2018 (5.09%) [6]
Year to Date Return, Label rr_YearToDateReturnLabel Year to Date return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2019
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 16.56%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 20.90%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2018
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (19.76%)
1 Year rr_AverageAnnualReturnYear01 (5.09%)
5 Years rr_AverageAnnualReturnYear05 5.42%
10 Years rr_AverageAnnualReturnYear10 12.93%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Jun. 10, 1970
Columbia Acorn Fund | Class Inst2  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.67%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.14% [2]
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.02%
Total annual Fund operating expenses rr_ExpensesOverAssets 0.83% [3]
Less: Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.01%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 0.82%
1 year rr_ExpenseExampleYear01 $ 84
3 years rr_ExpenseExampleYear03 264
5 years rr_ExpenseExampleYear05 460
10 years rr_ExpenseExampleYear10 1,024
1 year rr_ExpenseExampleNoRedemptionYear01 84
3 years rr_ExpenseExampleNoRedemptionYear03 264
5 years rr_ExpenseExampleNoRedemptionYear05 460
10 years rr_ExpenseExampleNoRedemptionYear10 $ 1,024
1 Year rr_AverageAnnualReturnYear01 (5.00%)
5 Years rr_AverageAnnualReturnYear05 5.45%
10 Years rr_AverageAnnualReturnYear10 12.95%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Nov. 08, 2012
Columbia Acorn Fund | Class Inst3  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.67%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.10% [2]
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.02%
Total annual Fund operating expenses rr_ExpensesOverAssets 0.79% [3]
Less: Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.01%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 0.78%
1 year rr_ExpenseExampleYear01 $ 80
3 years rr_ExpenseExampleYear03 251
5 years rr_ExpenseExampleYear05 438
10 years rr_ExpenseExampleYear10 977
1 year rr_ExpenseExampleNoRedemptionYear01 80
3 years rr_ExpenseExampleNoRedemptionYear03 251
5 years rr_ExpenseExampleNoRedemptionYear05 438
10 years rr_ExpenseExampleNoRedemptionYear10 $ 977
1 Year rr_AverageAnnualReturnYear01 (4.98%)
5 Years rr_AverageAnnualReturnYear05 5.51%
10 Years rr_AverageAnnualReturnYear10 12.99%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Nov. 08, 2012
Columbia Acorn Fund | returns after taxes on distributions | Class Inst  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (7.76%)
5 Years rr_AverageAnnualReturnYear05 (0.55%)
10 Years rr_AverageAnnualReturnYear10 9.29%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Jun. 10, 1970
Columbia Acorn Fund | returns after taxes on distributions and sale of Fund shares | Class Inst  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (0.95%)
5 Years rr_AverageAnnualReturnYear05 3.55%
10 Years rr_AverageAnnualReturnYear10 10.43%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Jun. 10, 1970
Columbia Acorn Fund | Russell 2500 Growth Index (reflects no deductions for fees, expenses or taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (7.47%)
5 Years rr_AverageAnnualReturnYear05 6.19%
10 Years rr_AverageAnnualReturnYear10 14.76%
[1] This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions.
[2] Other expenses have been restated to reflect current transfer agency fees paid by the Fund.
[3] “Total annual Fund operating expenses” include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses.
[4] Columbia Wanger Asset Management, LLC (the Investment Manager) has contractually agreed to waive fees and reimburse certain expenses of the Fund, through April 30, 2020, so that ordinary operating expenses (excluding transaction costs and certain other investment-related expenses, interest and fees on borrowings, if any) do not exceed the annual rates of 1.11% for Class A shares, 0.86% for Class Adv shares, 1.86% for Class C shares, 0.86% for Class Inst shares, 0.82% for Class Inst2 shares and 0.78% for Class Inst3 shares. This arrangement may only be amended or terminated with approval from the Fund’s Board of Trustees and the Investment Manager.
[5] This charge applies to redemptions within 12 months after purchase, with certain limited exceptions.
[6] Year to Date return as of March 31, 2019: 16.56%
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Columbia Acorn International
SUMMARY OF THE FUND
<b>Investment Objective </b>
Columbia Acorn International® (the Fund) seeks long-term capital appreciation.
<b>Fees and Expenses of the Fund </b>
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. An investor transacting in a class of Fund shares without any front-end sales charge, contingent deferred sales charge, or other asset-based fee for sales or distribution may be required to pay a commission to the financial intermediary for effecting such transactions. Such commission rates are set by the financial intermediary and are not reflected in the tables or the example below. You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 24 of the Fund’s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1.
<b>Shareholder Fees (fees paid directly from your investment) </b>
Shareholder Fees - Columbia Acorn International
Class A
Class C
Class Adv
Class Inst
Class Inst2
Class Inst3
Class R
Maximum sales charge (load) imposed on purchases (as a % of offering price) 5.75% none none none none none none
Maximum deferred sales charge (load) imposed on redemptions (as a % of the lower of the original purchase price or current net asset value) 1.00% [1] 1.00% [2] none none none none none
[1] This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions.
[2] This charge applies to redemptions within 12 months after purchase, with certain limited exceptions.
<b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) </b>
Annual Fund Operating Expenses - Columbia Acorn International
Class A
Class Adv
Class C
Class Inst
Class Inst2
Class Inst3
Class R
Management fees 0.77% 0.77% 0.77% 0.77% 0.77% 0.77% 0.77%
Distribution and/or service (12b-1) fees 0.25% none 1.00% none none none 0.50%
Other expenses [1] 0.23% 0.23% 0.23% 0.23% 0.16% 0.12% 0.23%
Acquired fund fees and expenses 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
Total annual Fund operating expenses [2] 1.26% 1.01% 2.01% 1.01% 0.94% 0.90% 1.51%
Less: Fee waivers and/or expense reimbursements [3] (0.02%) (0.02%) (0.02%) (0.02%) (0.02%) (0.02%) (0.02%)
Total annual Fund operating expenses after fee waivers and/or expense reimbursements 1.24% 0.99% 1.99% 0.99% 0.92% 0.88% 1.49%
[1] Other expenses have been restated to reflect current transfer agency fees paid by the Fund.
[2] “Total annual Fund operating expenses” include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses.
[3] Columbia Wanger Asset Management, LLC (the Investment Manager) has contractually agreed to waive fees and reimburse certain expenses of the Fund, through April 30, 2020, so that ordinary operating expenses (excluding transaction costs and certain other investment-related expenses, interest and fees on borrowings, if any) do not exceed the annual rates of 1.24% for Class A shares, 0.99% for Class Adv shares, 1.99% for Class C shares, 0.99% for Class Inst shares, 0.92% for Class Inst2 shares, 0.88% for Class Inst3 shares and 1.49% for Class R shares. This arrangement may only be amended or terminated with approval from the Fund’s Board of Trustees and the Investment Manager.
<b>Example </b>
The following example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example illustrates the hypothetical expenses that you would incur over the time periods indicated, and assumes that:
  • you invest $10,000 in the applicable class of Fund shares for the periods indicated,
  • your investment has a 5% return each year, and
  • the Fund’s total annual operating expenses remain the same as shown in the Annual Fund Operating Expenses table above.
Since the waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire as indicated in the preceding table, they are only reflected in the 1 year example and the first year of the other examples. Although your actual costs may be higher or lower, based on the assumptions listed above, your costs would be:
Expense Example - Columbia Acorn International - USD ($)
1 year
3 years
5 years
10 years
Class A 694 950 1,225 2,008
Class Adv 101 320 556 1,234
Class C 302 629 1,081 2,336
Class Inst 101 320 556 1,234
Class Inst2 94 298 518 1,153
Class Inst3 92 287 498 1,108
Class R 152 475 822 1,800
Expense Example, No Redemption - Columbia Acorn International - USD ($)
1 year
3 years
5 years
10 years
Class A 694 950 1,225 2,008
Class Adv 101 320 556 1,234
Class C 202 629 1,081 2,336
Class Inst 101 320 556 1,234
Class Inst2 94 298 518 1,153
Class Inst3 92 287 498 1,108
Class R 152 475 822 1,800
<b>Portfolio Turnover </b>
The Fund may pay transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 32% of the average value of its portfolio.
<b>Principal Investment Strategies </b>
Under normal circumstances, the Fund invests at least 75% of its net assets in foreign companies in developed markets (for example, Japan, Canada and the United Kingdom) and in emerging markets (for example, China, India and Brazil).

Under normal circumstances, the Fund (i) invests a majority of its net assets in the common stock of small- and mid-sized companies with market capitalizations under $10 billion at the time of initial investment (“Focus Stocks”) and (ii) may also invest in companies with market capitalizations above $10 billion, provided that immediately after that investment a majority of the Fund’s net assets would be invested in Focus Stocks. The Fund may continue to hold, and make additional investments in, Focus Stocks whose market capitalizations have grown to exceed $10 billion, regardless of whether the Fund’s investments in Focus Stocks are a majority of the Fund’s net assets. The Fund may from time to time emphasize one or more sectors in selecting its investments.

Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Investment Manager), believes that stocks of small- and mid-sized companies, 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 also may invest in larger-sized companies.

The Investment Manager typically seeks companies with:
  • A strong business franchise that offers growth potential.
  • Products and services in which the company has a competitive advantage.
  • A stock price the Investment Manager believes is reasonable relative to the assets and earning power of the company.
The Investment Manager may sell a portfolio holding if the security reaches the Investment Manager's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Investment Manager believes other securities are more attractive. The Investment Manager also may sell a portfolio holding to fund redemptions.
<b>Principal Risks </b>
An investment in the Fund involves risks, including those described below. There is no assurance that the Fund will achieve its investment objective and you may lose money. The value of the Fund’s holdings may decline, and the Fund’s net asset value (NAV) and share price may go down. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

Active Management Risk. The Investment Manager’s active management of the Fund could cause the Fund to underperform its benchmark index and/or other funds with similar investment objectives and/or strategies.

Small- and Mid-Cap Company Securities Risk. Investments in small- and mid-cap companies often involve greater risks than investments in larger, more established companies because small- and mid-cap companies tend to have less predictable earnings and may lack the management experience, financial resources, product diversification and competitive strengths of larger companies. Securities of small- and mid-cap companies may be less liquid and more volatile than the securities of larger companies.

Market Risk. The market values of securities or other investments that the Fund holds will fall, sometimes rapidly or unpredictably, or fail to rise. An investment in the Fund could lose money over short or long periods.

Foreign Securities Risk. Investments in or exposure to foreign securities involve certain risks not associated with investments in or exposure to securities of U.S. companies. Foreign securities subject the Fund to the risks associated with investing in the particular country of an issuer, including political, regulatory, economic, social, diplomatic and other conditions or events (including, for example, military confrontations, war and terrorism), occurring in the country or region, as well as risks associated with less developed custody and settlement practices. Foreign securities may be more volatile and less liquid than securities of U.S. companies, and are subject to the risks associated with potential imposition of economic and other sanctions against a particular foreign country, its nationals or industries or businesses within the country. In addition, foreign governments may impose withholding or other taxes on the Fund’s income, capital gains or proceeds from the disposition of foreign securities, which could reduce the Fund’s return on such securities.

Operational and Settlement Risks of Foreign Securities. The Fund’s foreign securities are generally held outside the United States in the primary market for the securities in the custody of foreign sub-custodians. Some countries have limited governmental oversight and regulation, which increases the risk of corruption and fraud and the possibility of losses to the Fund. In particular, under certain circumstances, foreign securities may settle on a delayed delivery basis, meaning that the Fund may be required to make payment for securities before the Fund has actually received delivery of the securities or deliver securities prior to the receipt of payment. As a result, there is a risk that the security will not be delivered to the Fund or that payment will not be received. Losses can also result from lost, stolen or counterfeit securities; defaults by brokers and banks; failures or defects of the settlement system; or poor and improper record keeping by registrars and issuers.

Share Blocking. In certain non-U.S. markets, an issuer’s securities are blocked from trading for a specified number of days before and, in certain instances, after a shareholder meeting. The blocking period can last up to several weeks. Share blocking may prevent the Fund from buying or selling securities during this period. As a consequence of these restrictions, the Investment Manager, on behalf of the Fund, may abstain from voting proxies in markets that require share blocking.

Emerging Market Securities Risk. Securities issued by foreign governments or companies in emerging market countries, such as China, Russia and certain countries 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 changes or developments in social, political, economic or other conditions. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity (i.e., lower trading volumes and less liquidity) 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 and have fewer trading partners, which makes them more sensitive to world commodity prices and economic downturns in other countries, and some have a higher risk of currency devaluations.

Operational and Settlement Risks of Securities in Emerging Markets. Foreign sub-custodians in emerging markets may be recently organized, lack extensive operating experience or lack effective government oversight or regulation. In addition, there may be legal restrictions or limitations on the ability of the Fund to recover assets held in custody by a foreign sub-custodian in the event of the bankruptcy of the sub-custodian. There may also be a greater risk that settlement may be delayed and that cash or securities of the Fund may be lost because of failures of or defects in the system, including fraud or corruption. Settlement systems in emerging markets also have a higher risk of failed trades.

Risks Related to Currencies and Corporate Actions in Emerging Markets. Risks related to currencies and corporate actions are also greater in emerging market countries than in developed countries. Emerging market currencies may not have an active trading market and are subject to a higher risk of currency devaluations.

Risks Related to Corporate and Securities Laws in Emerging Markets. Securities laws in emerging markets may be relatively new and unsettled and, consequently, there is a risk of rapid and unpredictable change in laws regarding foreign investment, securities regulation, title to securities and shareholder rights.

Liquidity and Trading Volume Risk. Due to market conditions, including uncertainty regarding the price of a security, it may be difficult for the Fund to buy or sell portfolio securities at a desirable time or price, which could result in investment losses. This risk of portfolio illiquidity is heightened with respect to small- and mid-cap securities, generally, and foreign small- and mid-cap securities in particular. The Fund may have to lower the selling price, liquidate other investments, or forego another, more appealing investment opportunity as a result of illiquidity in the markets. The Fund may also be limited in its ability to execute favorable trades in portfolio securities in response to changes in share prices and fundamentals, and may be forced to dispose of securities under disadvantageous circumstances and at a loss. As the Fund grows in size or, conversely, if it faces significant redemption pressure, these considerations take on increasing significance and may adversely impact performance.

Sector Risk. At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business within one or more economic sectors. Companies in the same sector may be similarly affected by economic, regulatory, political or market events or conditions, which may make the Fund more vulnerable to unfavorable developments in that sector than funds that invest more broadly. Generally, the more the Fund diversifies its investments, the more it spreads risk and potentially reduces the risks of loss and volatility.

Industrials Sector. The Fund may be more susceptible to the particular risks that may affect companies in the industrials sector than if it were invested in a wider variety of companies in unrelated sectors. Companies in the industrials sector are subject to certain risks, including changes in supply and demand for their specific product or service and for industrial sector products in general, including decline in demand for such products due to rapid technological developments and frequent new product introduction. Performance of such companies may be affected by factors including government regulation, world events and economic conditions and risks for environmental damage and product liability claims.

Foreign Currency Risk. The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar, particularly if the Fund invests a significant percentage of its assets in foreign securities or other assets denominated in currencies other than the U.S. dollar.

Issuer Risk. An issuer in which the Fund invests may perform poorly, and the value of its securities may therefore decline, which may negatively affect the Fund’s performance. Underperformance may be caused by poor management decisions, competitive pressures, breakthroughs in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent disclosures, natural disasters or other events, conditions or factors.

Geographic Focus Risk. The Fund may be particularly susceptible to economic, political, regulatory or other events or conditions affecting issuers and countries within the specific geographic regions in which the Fund invests. The Fund’s NAV may be more volatile than the NAV of a more geographically diversified fund.

Asia Pacific Region. Many of the countries in the Asia Pacific region are considered underdeveloped or developing, including from a political, economic and/or social perspective, and may have relatively unstable governments and economies based on limited business, industries and/or natural resources or commodities. Events in any one country within the region may impact other countries in the region or the region as a whole. As a result, events in the region will generally have a greater effect on the Fund than if the Fund were more geographically diversified. This could result in increased volatility in the value of the Fund’s investments and losses for the Fund. Also, securities of some companies in the region can be less liquid than U.S. or other foreign securities, potentially making it difficult for the Fund to sell such securities at a desirable time and price.

Europe. The Fund is particularly susceptible to economic, political, regulatory or other events or conditions affecting issuers and countries in Europe. In addition, the private and public sectors’ debt problems of a single European Union (EU) country can pose significant economic risks to the EU as a whole. As a result, the Fund’s NAV may be more volatile than the NAV of a more geographically diversified fund. If securities of issuers in Europe fall out of favor, it may cause the Fund to underperform other funds that do not focus their investments in this region of the world. The United Kingdom (UK) was scheduled to give notice of its plans to leave the EU (commonly known as "Brexit") effective March 30, 2019, but that deadline was extended by the EU while the British Parliament considers ratification of the withdrawal agreement, and the future and full impact of Brexit remain uncertain. During this period and beyond, the impact of any partial or complete dissolution of the EU on the UK and European economies and the broader global economy could be significant, resulting in negative impacts on currency and financial markets generally, such as increased volatility and illiquidity, and potentially lower economic growth in markets in Europe, which may adversely affect the value of your investment in the Fund.

Growth Securities Risk. Growth securities typically trade at a higher multiple of earnings than other types of equity securities. Accordingly, the market values of growth securities may never reach their expected market value and may decline in price. In addition, growth securities, at times, may not perform as well as value securities or the stock market in general, and may be out of favor with investors for varying periods of time.
<b>Performance Information </b>
The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund’s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund’s returns for the periods shown with those of the MSCI ACWI ex USA SMID Cap Growth Index (Net), the Fund's primary benchmark, and those of the MSCI ACWI ex USA SMID Cap Index (Net), the Fund's secondary benchmark. The MSCI ACWI ex USA SMID Cap Growth Index (Net) captures mid- and small-cap securities exhibiting overall growth style characteristics across 22 developed markets countries and 24 emerging markets countries. The MSCI ACWI ex USA SMID Cap Index (Net) captures mid- and small-cap representation across 22 of 23 developed markets countries (excluding the United States) and 24 emerging market countries. As of March 31, 2019, the MSCI ACWI ex USA SMID Cap Index (Net) had 5,063 constituents and covered approximately 28% of the free float-adjusted market capitalization in each country. Effective May 1, 2019, the MSCI ACWI ex USA SMID Cap Growth Index (Net) became the Fund’s primary benchmark; prior to May 1, 2019, this index was the Fund’s secondary benchmark. Also effective May 1, 2019, the MSCI ACWI ex USA SMID Cap Index (Net) became the Fund’s secondary benchmark; prior to May 1, 2019 this index was the Fund’s primary benchmark. The Investment Manager switched the Fund’s primary and secondary benchmarks because the Investment Manager believes that the Fund’s portfolio more closely aligns with the MSCI ACWI ex USA SMID Cap Growth Index (Net). The Investment Manager believes that the MSCI ACWI ex USA SMID Cap Index (Net) continues to provide a meaningful additional basis for comparing the Fund's performance because the Fund’s portfolio will generally be closely aligned with the index from an investment style perspective.

The performance of one or more share classes shown in the Average Annual Total Returns table below includes the Fund’s Class Inst share returns (adjusted to reflect the higher class-related operating expenses of such classes, where applicable) for periods prior to the indicated inception date of such share classes. Except for differences in fees and expenses, all share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities.

The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. Your actual after-tax returns will depend on your personal tax situation and may differ from those shown in the table. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class Inst shares and will vary for other share classes. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares.

The Fund’s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future. Updated performance information can be obtained by calling toll-free 800.345.6611 or visiting columbiathreadneedleus.com.
<b>Year by Year Total Return (%)<br/> as of December 31 Each Year</b>
Bar Chart
[1] Year to Date return as of March 31, 2019: 12.50%
Best and Worst Quarterly Returns
During the Period Shown in the Bar Chart

Best                                                          2nd Quarter 2009                                                         33.30%

Worst                                                       3rd Quarter 2011                                                         -18.23%
<b>Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2018)</b>
Average Annual Total Returns - Columbia Acorn International
Share Class Inception Date
1 Year
5 Years
10 Years
Class Inst Sep. 23, 1992 (15.93%) 0.52% 9.28%
Class Inst | returns after taxes on distributions Sep. 23, 1992 (20.84%) (1.51%) 7.84%
Class Inst | returns after taxes on distributions and sale of Fund shares Sep. 23, 1992 (5.49%) 0.61% 7.74%
Class A Oct. 16, 2000 (20.96%) (0.92%) 8.31%
Class Adv Nov. 08, 2012 (15.90%) 0.47% 9.26%
Class C Oct. 16, 2000 (17.38%) (0.49%) 8.13%
Class Inst2 Aug. 02, 2011 (15.85%) 0.57% 9.31%
Class Inst3 Nov. 08, 2012 (15.82%) 0.62% 9.35%
Class R Aug. 02, 2011 (16.32%) (0.06%) 8.62%
MSCI ACWI ex USA SMID Cap Growth Index (Net) (reflects reinvested dividends net of withholding taxes but reflects no deductions for fees, expenses or other taxes)   (17.28%) 2.09% 8.72%
MSCI ACWI ex USA SMID Cap Index (Net) (reflects reinvested dividends net of withholding taxes but reflects no deductions for fees, expenses or other taxes)   (17.06%) 1.75% 8.84%
XML 21 R33.htm IDEA: XBRL DOCUMENT v3.19.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName COLUMBIA ACORN TRUST
Prospectus Date rr_ProspectusDate May 01, 2019
Columbia Acorn International  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading SUMMARY OF THE FUND
Objective [Heading] rr_ObjectiveHeading <b>Investment Objective </b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock Columbia Acorn International® (the Fund) seeks long-term capital appreciation.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund </b>
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. An investor transacting in a class of Fund shares without any front-end sales charge, contingent deferred sales charge, or other asset-based fee for sales or distribution may be required to pay a commission to the financial intermediary for effecting such transactions. Such commission rates are set by the financial intermediary and are not reflected in the tables or the example below. You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 24 of the Fund’s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <b>Shareholder Fees (fees paid directly from your investment) </b>
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) </b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination April 30, 2020
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover </b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund may pay transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 32% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 32.00%
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 24 of the Fund’s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 50,000
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent Other expenses have been restated to reflect current transfer agency fees paid by the Fund.
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees “Total annual Fund operating expenses” include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
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 the applicable class of Fund shares for the periods indicated,
  • your investment has a 5% return each year, and
  • the Fund’s total annual operating expenses remain the same as shown in the Annual Fund Operating Expenses table above.
Since the waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire as indicated in the preceding table, they are only reflected in the 1 year example and the first year of the other examples. Although your actual costs may be higher or lower, based on the assumptions listed above, your costs would be:
Strategy [Heading] rr_StrategyHeading <b>Principal Investment Strategies </b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock Under normal circumstances, the Fund invests at least 75% of its net assets in foreign companies in developed markets (for example, Japan, Canada and the United Kingdom) and in emerging markets (for example, China, India and Brazil).

Under normal circumstances, the Fund (i) invests a majority of its net assets in the common stock of small- and mid-sized companies with market capitalizations under $10 billion at the time of initial investment (“Focus Stocks”) and (ii) may also invest in companies with market capitalizations above $10 billion, provided that immediately after that investment a majority of the Fund’s net assets would be invested in Focus Stocks. The Fund may continue to hold, and make additional investments in, Focus Stocks whose market capitalizations have grown to exceed $10 billion, regardless of whether the Fund’s investments in Focus Stocks are a majority of the Fund’s net assets. The Fund may from time to time emphasize one or more sectors in selecting its investments.

Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Investment Manager), believes that stocks of small- and mid-sized companies, 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 also may invest in larger-sized companies.

The Investment Manager typically seeks companies with:
  • A strong business franchise that offers growth potential.
  • Products and services in which the company has a competitive advantage.
  • A stock price the Investment Manager believes is reasonable relative to the assets and earning power of the company.
The Investment Manager may sell a portfolio holding if the security reaches the Investment Manager's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Investment Manager believes other securities are more attractive. The Investment Manager also may sell a portfolio holding to fund redemptions.
Risk [Heading] rr_RiskHeading <b>Principal Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock An investment in the Fund involves risks, including those described below. There is no assurance that the Fund will achieve its investment objective and you may lose money. The value of the Fund’s holdings may decline, and the Fund’s net asset value (NAV) and share price may go down. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

Active Management Risk. The Investment Manager’s active management of the Fund could cause the Fund to underperform its benchmark index and/or other funds with similar investment objectives and/or strategies.

Small- and Mid-Cap Company Securities Risk. Investments in small- and mid-cap companies often involve greater risks than investments in larger, more established companies because small- and mid-cap companies tend to have less predictable earnings and may lack the management experience, financial resources, product diversification and competitive strengths of larger companies. Securities of small- and mid-cap companies may be less liquid and more volatile than the securities of larger companies.

Market Risk. The market values of securities or other investments that the Fund holds will fall, sometimes rapidly or unpredictably, or fail to rise. An investment in the Fund could lose money over short or long periods.

Foreign Securities Risk. Investments in or exposure to foreign securities involve certain risks not associated with investments in or exposure to securities of U.S. companies. Foreign securities subject the Fund to the risks associated with investing in the particular country of an issuer, including political, regulatory, economic, social, diplomatic and other conditions or events (including, for example, military confrontations, war and terrorism), occurring in the country or region, as well as risks associated with less developed custody and settlement practices. Foreign securities may be more volatile and less liquid than securities of U.S. companies, and are subject to the risks associated with potential imposition of economic and other sanctions against a particular foreign country, its nationals or industries or businesses within the country. In addition, foreign governments may impose withholding or other taxes on the Fund’s income, capital gains or proceeds from the disposition of foreign securities, which could reduce the Fund’s return on such securities.

Operational and Settlement Risks of Foreign Securities. The Fund’s foreign securities are generally held outside the United States in the primary market for the securities in the custody of foreign sub-custodians. Some countries have limited governmental oversight and regulation, which increases the risk of corruption and fraud and the possibility of losses to the Fund. In particular, under certain circumstances, foreign securities may settle on a delayed delivery basis, meaning that the Fund may be required to make payment for securities before the Fund has actually received delivery of the securities or deliver securities prior to the receipt of payment. As a result, there is a risk that the security will not be delivered to the Fund or that payment will not be received. Losses can also result from lost, stolen or counterfeit securities; defaults by brokers and banks; failures or defects of the settlement system; or poor and improper record keeping by registrars and issuers.

Share Blocking. In certain non-U.S. markets, an issuer’s securities are blocked from trading for a specified number of days before and, in certain instances, after a shareholder meeting. The blocking period can last up to several weeks. Share blocking may prevent the Fund from buying or selling securities during this period. As a consequence of these restrictions, the Investment Manager, on behalf of the Fund, may abstain from voting proxies in markets that require share blocking.

Emerging Market Securities Risk. Securities issued by foreign governments or companies in emerging market countries, such as China, Russia and certain countries 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 changes or developments in social, political, economic or other conditions. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity (i.e., lower trading volumes and less liquidity) 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 and have fewer trading partners, which makes them more sensitive to world commodity prices and economic downturns in other countries, and some have a higher risk of currency devaluations.

Operational and Settlement Risks of Securities in Emerging Markets. Foreign sub-custodians in emerging markets may be recently organized, lack extensive operating experience or lack effective government oversight or regulation. In addition, there may be legal restrictions or limitations on the ability of the Fund to recover assets held in custody by a foreign sub-custodian in the event of the bankruptcy of the sub-custodian. There may also be a greater risk that settlement may be delayed and that cash or securities of the Fund may be lost because of failures of or defects in the system, including fraud or corruption. Settlement systems in emerging markets also have a higher risk of failed trades.

Risks Related to Currencies and Corporate Actions in Emerging Markets. Risks related to currencies and corporate actions are also greater in emerging market countries than in developed countries. Emerging market currencies may not have an active trading market and are subject to a higher risk of currency devaluations.

Risks Related to Corporate and Securities Laws in Emerging Markets. Securities laws in emerging markets may be relatively new and unsettled and, consequently, there is a risk of rapid and unpredictable change in laws regarding foreign investment, securities regulation, title to securities and shareholder rights.

Liquidity and Trading Volume Risk. Due to market conditions, including uncertainty regarding the price of a security, it may be difficult for the Fund to buy or sell portfolio securities at a desirable time or price, which could result in investment losses. This risk of portfolio illiquidity is heightened with respect to small- and mid-cap securities, generally, and foreign small- and mid-cap securities in particular. The Fund may have to lower the selling price, liquidate other investments, or forego another, more appealing investment opportunity as a result of illiquidity in the markets. The Fund may also be limited in its ability to execute favorable trades in portfolio securities in response to changes in share prices and fundamentals, and may be forced to dispose of securities under disadvantageous circumstances and at a loss. As the Fund grows in size or, conversely, if it faces significant redemption pressure, these considerations take on increasing significance and may adversely impact performance.

Sector Risk. At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business within one or more economic sectors. Companies in the same sector may be similarly affected by economic, regulatory, political or market events or conditions, which may make the Fund more vulnerable to unfavorable developments in that sector than funds that invest more broadly. Generally, the more the Fund diversifies its investments, the more it spreads risk and potentially reduces the risks of loss and volatility.

Industrials Sector. The Fund may be more susceptible to the particular risks that may affect companies in the industrials sector than if it were invested in a wider variety of companies in unrelated sectors. Companies in the industrials sector are subject to certain risks, including changes in supply and demand for their specific product or service and for industrial sector products in general, including decline in demand for such products due to rapid technological developments and frequent new product introduction. Performance of such companies may be affected by factors including government regulation, world events and economic conditions and risks for environmental damage and product liability claims.

Foreign Currency Risk. The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar, particularly if the Fund invests a significant percentage of its assets in foreign securities or other assets denominated in currencies other than the U.S. dollar.

Issuer Risk. An issuer in which the Fund invests may perform poorly, and the value of its securities may therefore decline, which may negatively affect the Fund’s performance. Underperformance may be caused by poor management decisions, competitive pressures, breakthroughs in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent disclosures, natural disasters or other events, conditions or factors.

Geographic Focus Risk. The Fund may be particularly susceptible to economic, political, regulatory or other events or conditions affecting issuers and countries within the specific geographic regions in which the Fund invests. The Fund’s NAV may be more volatile than the NAV of a more geographically diversified fund.

Asia Pacific Region. Many of the countries in the Asia Pacific region are considered underdeveloped or developing, including from a political, economic and/or social perspective, and may have relatively unstable governments and economies based on limited business, industries and/or natural resources or commodities. Events in any one country within the region may impact other countries in the region or the region as a whole. As a result, events in the region will generally have a greater effect on the Fund than if the Fund were more geographically diversified. This could result in increased volatility in the value of the Fund’s investments and losses for the Fund. Also, securities of some companies in the region can be less liquid than U.S. or other foreign securities, potentially making it difficult for the Fund to sell such securities at a desirable time and price.

Europe. The Fund is particularly susceptible to economic, political, regulatory or other events or conditions affecting issuers and countries in Europe. In addition, the private and public sectors’ debt problems of a single European Union (EU) country can pose significant economic risks to the EU as a whole. As a result, the Fund’s NAV may be more volatile than the NAV of a more geographically diversified fund. If securities of issuers in Europe fall out of favor, it may cause the Fund to underperform other funds that do not focus their investments in this region of the world. The United Kingdom (UK) was scheduled to give notice of its plans to leave the EU (commonly known as "Brexit") effective March 30, 2019, but that deadline was extended by the EU while the British Parliament considers ratification of the withdrawal agreement, and the future and full impact of Brexit remain uncertain. During this period and beyond, the impact of any partial or complete dissolution of the EU on the UK and European economies and the broader global economy could be significant, resulting in negative impacts on currency and financial markets generally, such as increased volatility and illiquidity, and potentially lower economic growth in markets in Europe, which may adversely affect the value of your investment in the Fund.

Growth Securities Risk. Growth securities typically trade at a higher multiple of earnings than other types of equity securities. Accordingly, the market values of growth securities may never reach their expected market value and may decline in price. In addition, growth securities, at times, may not perform as well as value securities or the stock market in general, and may be out of favor with investors for varying periods of time.
Risk Lose Money [Text] rr_RiskLoseMoney There is no assurance that the Fund will achieve its investment objective and you may lose money.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>Performance Information </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund’s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund’s returns for the periods shown with those of the MSCI ACWI ex USA SMID Cap Growth Index (Net), the Fund's primary benchmark, and those of the MSCI ACWI ex USA SMID Cap Index (Net), the Fund's secondary benchmark. The MSCI ACWI ex USA SMID Cap Growth Index (Net) captures mid- and small-cap securities exhibiting overall growth style characteristics across 22 developed markets countries and 24 emerging markets countries. The MSCI ACWI ex USA SMID Cap Index (Net) captures mid- and small-cap representation across 22 of 23 developed markets countries (excluding the United States) and 24 emerging market countries. As of March 31, 2019, the MSCI ACWI ex USA SMID Cap Index (Net) had 5,063 constituents and covered approximately 28% of the free float-adjusted market capitalization in each country. Effective May 1, 2019, the MSCI ACWI ex USA SMID Cap Growth Index (Net) became the Fund’s primary benchmark; prior to May 1, 2019, this index was the Fund’s secondary benchmark. Also effective May 1, 2019, the MSCI ACWI ex USA SMID Cap Index (Net) became the Fund’s secondary benchmark; prior to May 1, 2019 this index was the Fund’s primary benchmark. The Investment Manager switched the Fund’s primary and secondary benchmarks because the Investment Manager believes that the Fund’s portfolio more closely aligns with the MSCI ACWI ex USA SMID Cap Growth Index (Net). The Investment Manager believes that the MSCI ACWI ex USA SMID Cap Index (Net) continues to provide a meaningful additional basis for comparing the Fund's performance because the Fund’s portfolio will generally be closely aligned with the index from an investment style perspective.

The performance of one or more share classes shown in the Average Annual Total Returns table below includes the Fund’s Class Inst share returns (adjusted to reflect the higher class-related operating expenses of such classes, where applicable) for periods prior to the indicated inception date of such share classes. Except for differences in fees and expenses, all share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities.

The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. Your actual after-tax returns will depend on your personal tax situation and may differ from those shown in the table. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class Inst shares and will vary for other share classes. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares.

The Fund’s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future. Updated performance information can be obtained by calling toll-free 800.345.6611 or visiting columbiathreadneedleus.com.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund’s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund’s returns for the periods shown with those of the MSCI ACWI ex USA SMID Cap Growth Index (Net), the Fund's primary benchmark, and those of the MSCI ACWI ex USA SMID Cap Index (Net), the Fund's secondary benchmark.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800.345.6611
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress columbiathreadneedleus.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture <b>The Fund’s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future.</b>
Bar Chart [Heading] rr_BarChartHeading <b>Year by Year Total Return (%)<br/> as of December 31 Each Year</b>
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock Best and Worst Quarterly Returns
During the Period Shown in the Bar Chart

Best                                                          2nd Quarter 2009                                                         33.30%

Worst                                                       3rd Quarter 2011                                                         -18.23%
Performance Table Heading rr_PerformanceTableHeading <b>Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2018)</b>
Performance Table Market Index Changed rr_PerformanceTableMarketIndexChanged Effective May 1, 2019, the MSCI ACWI ex USA SMID Cap Growth Index (Net) became the Fund’s primary benchmark; prior to May 1, 2019, this index was the Fund’s secondary benchmark. Also effective May 1, 2019, the MSCI ACWI ex USA SMID Cap Index (Net) became the Fund’s secondary benchmark; prior to May 1, 2019 this index was the Fund’s primary benchmark. The Investment Manager switched the Fund’s primary and secondary benchmarks because the Investment Manager believes that the Fund’s portfolio more closely aligns with the MSCI ACWI ex USA SMID Cap Growth Index (Net). The Investment Manager believes that the MSCI ACWI ex USA SMID Cap Index (Net) continues to provide a meaningful additional basis for comparing the Fund's performance because the Fund’s portfolio will generally be closely aligned with the index from an investment style perspective.
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs).
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown The after-tax returns are shown only for Class Inst shares and will vary for other share classes.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares.
Columbia Acorn International | Class A  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther 1.00% [1]
Management fees rr_ManagementFeesOverAssets 0.77%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other expenses rr_OtherExpensesOverAssets 0.23% [2]
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total annual Fund operating expenses rr_ExpensesOverAssets 1.26% [3]
Less: Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.02%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 1.24%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions.
1 year rr_ExpenseExampleYear01 $ 694
3 years rr_ExpenseExampleYear03 950
5 years rr_ExpenseExampleYear05 1,225
10 years rr_ExpenseExampleYear10 2,008
1 year rr_ExpenseExampleNoRedemptionYear01 694
3 years rr_ExpenseExampleNoRedemptionYear03 950
5 years rr_ExpenseExampleNoRedemptionYear05 1,225
10 years rr_ExpenseExampleNoRedemptionYear10 $ 2,008
1 Year rr_AverageAnnualReturnYear01 (20.96%)
5 Years rr_AverageAnnualReturnYear05 (0.92%)
10 Years rr_AverageAnnualReturnYear10 8.31%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Oct. 16, 2000
Columbia Acorn International | Class Adv  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.77%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.23% [2]
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total annual Fund operating expenses rr_ExpensesOverAssets 1.01% [3]
Less: Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.02%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 0.99%
1 year rr_ExpenseExampleYear01 $ 101
3 years rr_ExpenseExampleYear03 320
5 years rr_ExpenseExampleYear05 556
10 years rr_ExpenseExampleYear10 1,234
1 year rr_ExpenseExampleNoRedemptionYear01 101
3 years rr_ExpenseExampleNoRedemptionYear03 320
5 years rr_ExpenseExampleNoRedemptionYear05 556
10 years rr_ExpenseExampleNoRedemptionYear10 $ 1,234
1 Year rr_AverageAnnualReturnYear01 (15.90%)
5 Years rr_AverageAnnualReturnYear05 0.47%
10 Years rr_AverageAnnualReturnYear10 9.26%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Nov. 08, 2012
Columbia Acorn International | Class C  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther 1.00% [5]
Management fees rr_ManagementFeesOverAssets 0.77%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other expenses rr_OtherExpensesOverAssets 0.23% [2]
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total annual Fund operating expenses rr_ExpensesOverAssets 2.01% [3]
Less: Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.02%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 1.99%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock This charge applies to redemptions within 12 months after purchase, with certain limited exceptions.
1 year rr_ExpenseExampleYear01 $ 302
3 years rr_ExpenseExampleYear03 629
5 years rr_ExpenseExampleYear05 1,081
10 years rr_ExpenseExampleYear10 2,336
1 year rr_ExpenseExampleNoRedemptionYear01 202
3 years rr_ExpenseExampleNoRedemptionYear03 629
5 years rr_ExpenseExampleNoRedemptionYear05 1,081
10 years rr_ExpenseExampleNoRedemptionYear10 $ 2,336
1 Year rr_AverageAnnualReturnYear01 (17.38%)
5 Years rr_AverageAnnualReturnYear05 (0.49%)
10 Years rr_AverageAnnualReturnYear10 8.13%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Oct. 16, 2000
Columbia Acorn International | Class Inst  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.77%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.23% [2]
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total annual Fund operating expenses rr_ExpensesOverAssets 1.01% [3]
Less: Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.02%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 0.99%
1 year rr_ExpenseExampleYear01 $ 101
3 years rr_ExpenseExampleYear03 320
5 years rr_ExpenseExampleYear05 556
10 years rr_ExpenseExampleYear10 1,234
1 year rr_ExpenseExampleNoRedemptionYear01 101
3 years rr_ExpenseExampleNoRedemptionYear03 320
5 years rr_ExpenseExampleNoRedemptionYear05 556
10 years rr_ExpenseExampleNoRedemptionYear10 $ 1,234
2009 rr_AnnualReturn2009 50.97% [6]
2010 rr_AnnualReturn2010 22.70% [6]
2011 rr_AnnualReturn2011 (14.06%) [6]
2012 rr_AnnualReturn2012 21.60% [6]
2013 rr_AnnualReturn2013 22.33% [6]
2014 rr_AnnualReturn2014 (4.28%) [6]
2015 rr_AnnualReturn2015 (1.33%) [6]
2016 rr_AnnualReturn2016 (2.28%) [6]
2017 rr_AnnualReturn2017 32.24% [6]
2018 rr_AnnualReturn2018 (15.93%) [6]
Year to Date Return, Label rr_YearToDateReturnLabel Year to Date return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2019
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 12.50%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 33.30%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (18.23%)
1 Year rr_AverageAnnualReturnYear01 (15.93%)
5 Years rr_AverageAnnualReturnYear05 0.52%
10 Years rr_AverageAnnualReturnYear10 9.28%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Sep. 23, 1992
Columbia Acorn International | Class Inst2  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.77%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.16% [2]
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total annual Fund operating expenses rr_ExpensesOverAssets 0.94% [3]
Less: Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.02%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 0.92%
1 year rr_ExpenseExampleYear01 $ 94
3 years rr_ExpenseExampleYear03 298
5 years rr_ExpenseExampleYear05 518
10 years rr_ExpenseExampleYear10 1,153
1 year rr_ExpenseExampleNoRedemptionYear01 94
3 years rr_ExpenseExampleNoRedemptionYear03 298
5 years rr_ExpenseExampleNoRedemptionYear05 518
10 years rr_ExpenseExampleNoRedemptionYear10 $ 1,153
1 Year rr_AverageAnnualReturnYear01 (15.85%)
5 Years rr_AverageAnnualReturnYear05 0.57%
10 Years rr_AverageAnnualReturnYear10 9.31%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Aug. 02, 2011
Columbia Acorn International | Class Inst3  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.77%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.12% [2]
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total annual Fund operating expenses rr_ExpensesOverAssets 0.90% [3]
Less: Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.02%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 0.88%
1 year rr_ExpenseExampleYear01 $ 92
3 years rr_ExpenseExampleYear03 287
5 years rr_ExpenseExampleYear05 498
10 years rr_ExpenseExampleYear10 1,108
1 year rr_ExpenseExampleNoRedemptionYear01 92
3 years rr_ExpenseExampleNoRedemptionYear03 287
5 years rr_ExpenseExampleNoRedemptionYear05 498
10 years rr_ExpenseExampleNoRedemptionYear10 $ 1,108
1 Year rr_AverageAnnualReturnYear01 (15.82%)
5 Years rr_AverageAnnualReturnYear05 0.62%
10 Years rr_AverageAnnualReturnYear10 9.35%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Nov. 08, 2012
Columbia Acorn International | Class R  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.77%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Other expenses rr_OtherExpensesOverAssets 0.23% [2]
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total annual Fund operating expenses rr_ExpensesOverAssets 1.51% [3]
Less: Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.02%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 1.49%
1 year rr_ExpenseExampleYear01 $ 152
3 years rr_ExpenseExampleYear03 475
5 years rr_ExpenseExampleYear05 822
10 years rr_ExpenseExampleYear10 1,800
1 year rr_ExpenseExampleNoRedemptionYear01 152
3 years rr_ExpenseExampleNoRedemptionYear03 475
5 years rr_ExpenseExampleNoRedemptionYear05 822
10 years rr_ExpenseExampleNoRedemptionYear10 $ 1,800
1 Year rr_AverageAnnualReturnYear01 (16.32%)
5 Years rr_AverageAnnualReturnYear05 (0.06%)
10 Years rr_AverageAnnualReturnYear10 8.62%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Aug. 02, 2011
Columbia Acorn International | returns after taxes on distributions | Class Inst  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (20.84%)
5 Years rr_AverageAnnualReturnYear05 (1.51%)
10 Years rr_AverageAnnualReturnYear10 7.84%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Sep. 23, 1992
Columbia Acorn International | returns after taxes on distributions and sale of Fund shares | Class Inst  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (5.49%)
5 Years rr_AverageAnnualReturnYear05 0.61%
10 Years rr_AverageAnnualReturnYear10 7.74%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Sep. 23, 1992
Columbia Acorn International | MSCI ACWI ex USA SMID Cap Growth Index (Net) (reflects reinvested dividends net of withholding taxes but reflects no deductions for fees, expenses or other taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (17.28%)
5 Years rr_AverageAnnualReturnYear05 2.09%
10 Years rr_AverageAnnualReturnYear10 8.72%
Columbia Acorn International | MSCI ACWI ex USA SMID Cap Index (Net) (reflects reinvested dividends net of withholding taxes but reflects no deductions for fees, expenses or other taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (17.06%)
5 Years rr_AverageAnnualReturnYear05 1.75%
10 Years rr_AverageAnnualReturnYear10 8.84%
[1] This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions.
[2] Other expenses have been restated to reflect current transfer agency fees paid by the Fund.
[3] “Total annual Fund operating expenses” include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses.
[4] Columbia Wanger Asset Management, LLC (the Investment Manager) has contractually agreed to waive fees and reimburse certain expenses of the Fund, through April 30, 2020, so that ordinary operating expenses (excluding transaction costs and certain other investment-related expenses, interest and fees on borrowings, if any) do not exceed the annual rates of 1.24% for Class A shares, 0.99% for Class Adv shares, 1.99% for Class C shares, 0.99% for Class Inst shares, 0.92% for Class Inst2 shares, 0.88% for Class Inst3 shares and 1.49% for Class R shares. This arrangement may only be amended or terminated with approval from the Fund’s Board of Trustees and the Investment Manager.
[5] This charge applies to redemptions within 12 months after purchase, with certain limited exceptions.
[6] Year to Date return as of March 31, 2019: 12.50%
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M'6/]^O5,GCR9=NW:^3E:;9RUK4N7+GSQQ1<<.7*$K5NW$A<71]^^??T v3.19.1
Columbia Acorn International Select
SUMMARY OF THE FUND
<b>Investment Objective </b>
Columbia Acorn International SelectSM (the Fund) seeks long-term capital appreciation.
<b>Fees and Expenses of the Fund </b>
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. An investor transacting in a class of Fund shares without any front-end sales charge, contingent deferred sales charge, or other asset-based fee for sales or distribution may be required to pay a commission to the financial intermediary for effecting such transactions. Such commission rates are set by the financial intermediary and are not reflected in the tables or the example below. You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 26 of the Fund’s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1.
<b>Shareholder Fees (fees paid directly from your investment) </b>
Shareholder Fees - Columbia Acorn International Select
Class A
Class C
Class Adv
Class Inst
Class Inst2
Class Inst3
Maximum sales charge (load) imposed on purchases (as a % of offering price) 5.75% none none none none none
Maximum deferred sales charge (load) imposed on redemptions (as a % of the lower of the original purchase price or current net asset value) 1.00% [1] 1.00% [2] none none none none
[1] This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions.
[2] This charge applies to redemptions within 12 months after purchase, with certain limited exceptions.
<b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) </b>
Annual Fund Operating Expenses - Columbia Acorn International Select
Class A
Class Adv
Class C
Class Inst
Class Inst2
Class Inst3
Management fees 0.89% 0.89% 0.89% 0.89% 0.89% 0.89%
Distribution and/or service (12b-1) fees 0.25% none 1.00% none none none
Other expenses [1] 0.39% 0.39% 0.39% 0.39% 0.31% 0.26%
Total annual Fund operating expenses [2] 1.53% 1.28% 2.28% 1.28% 1.20% 1.15%
Less: Fee waivers and/or expense reimbursements [3] (0.13%) (0.13%) (0.13%) (0.13%) (0.14%) (0.14%)
Total annual Fund operating expenses after fee waivers and/or expense reimbursements 1.40% 1.15% 2.15% 1.15% 1.06% 1.01%
[1] Other expenses have been restated to reflect current transfer agency fees paid by the Fund.
[2] "Total annual Fund operating expenses" include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses.
[3] Columbia Wanger Asset Management, LLC (the Investment Manager) has contractually agreed to waive fees and reimburse certain expenses of the Fund, through April 30, 2020, so that ordinary operating expenses (excluding transaction costs and certain other investment-related expenses, 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 1.40% for Class A shares, 1.15% for Class Adv shares, 2.15% for Class C shares, 1.15% for Class Inst shares, 1.06% for Class Inst2 shares and 1.01% for Class Inst3 shares. This arrangement may only be amended or terminated with approval from the Fund’s Board of Trustees and the Investment Manager. The fee waivers and/or expense reimbursements shown in the table also reflect the contractual agreement of the Fund’s transfer agent, Columbia Management Investment Services Corp. (the Transfer Agent), to waive a portion of its fees through April 30, 2020, such that the Fund’s transfer agency fees do not exceed the annual rates of 0.05% of the average daily net assets of Class Inst2 shares and 0.00% of the average daily net assets of Class Inst3 shares.
<b>Example </b>
The following example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example illustrates the hypothetical expenses that you would incur over the time periods indicated, and assumes that:
  • you invest $10,000 in the applicable class of Fund shares for the periods indicated,
  • your investment has a 5% return each year, and
  • the Fund’s total annual operating expenses remain the same as shown in the Annual Fund Operating Expenses table above.
Since the waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire as indicated in the preceding table, they are only reflected in the 1 year example and the first year of the other examples. Although your actual costs may be higher or lower, based on the assumptions listed above, your costs would be:
Expense Example - Columbia Acorn International Select - USD ($)
1 year
3 years
5 years
10 years
Class A 709 1,019 1,350 2,283
Class Adv 117 393 690 1,534
Class C 318 700 1,208 2,605
Class Inst 117 393 690 1,534
Class Inst2 108 367 646 1,442
Class Inst3 103 351 619 1,385
Expense Example, No Redemption - Columbia Acorn International Select - USD ($)
1 year
3 years
5 years
10 years
Class A 709 1,019 1,350 2,283
Class Adv 117 393 690 1,534
Class C 218 700 1,208 2,605
Class Inst 117 393 690 1,534
Class Inst2 108 367 646 1,442
Class Inst3 103 351 619 1,385
<b>Portfolio Turnover </b>
The Fund may pay transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 48% of the average value of its portfolio.
<b>Principal Investment Strategies </b>
Under normal circumstances, the Fund invests at least 65% of its net assets in foreign companies in developed markets (for example, Japan, Canada and the United Kingdom).

The Fund also may invest up to 35% of its total assets in companies in emerging markets (for example, China, India and Brazil). The Fund generally invests in at least three countries other than the United States but may invest up to 25% of its total assets in securities of U.S. issuers.

Under normal circumstances, the Fund (i) invests a majority of its net assets in the common stock of small- and mid-sized companies with market capitalizations under $25 billion at the time of initial investment (“Focus Stocks”) and (ii) may also invest in companies with market capitalizations above $25 billion, provided that immediately after that investment a majority of the Fund’s net assets would be invested in Focus Stocks. The Fund may continue to hold, and make additional investments in, Focus Stocks whose market capitalizations have grown to exceed $25 billion, regardless of whether the Fund’s investments in Focus Stocks are a majority of the Fund’s net assets.

Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Investment Manager), believes that stocks of small- and mid-sized companies, 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 also may invest in larger-sized companies. The Fund may from time to time emphasize one or more sectors in selecting its investments.

The Fund invests in a limited number of foreign companies (generally between 30-60), offering the potential to provide above-average growth over time. In pursuit of the Fund’s objective, the portfolio managers will take advantage of the research and stock-picking capabilities of the Investment Manager and will generally concentrate the Fund’s investments in those sectors, companies, geographic regions or industries that the portfolio managers believe offer the best investment return potential.

The Investment Manager typically seeks companies with:
  • A strong business franchise that offers growth potential.
  • Products and services in which the company has a competitive advantage.
  • A stock price the Investment Manager believes is reasonable relative to the assets and earning power of the company.
The Investment Manager may sell a portfolio holding if the security reaches the Investment Manager's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Investment Manager believes other securities are more attractive. The Investment Manager also may sell a portfolio holding to fund redemptions.
<b>Principal Risks </b>
An investment in the Fund involves risks, including those described below. There is no assurance that the Fund will achieve its investment objective and you may lose money. The value of the Fund’s holdings may decline, and the Fund’s net asset value (NAV) and share price may go down. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

Active Management Risk. The Investment Manager’s active management of the Fund could cause the Fund to underperform its benchmark index and/or other funds with similar investment objectives and/or strategies.

Sector Risk. At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business within one or more economic sectors. Companies in the same sector may be similarly affected by economic, regulatory, political or market events or conditions, which may make the Fund more vulnerable to unfavorable developments in that sector than funds that invest more broadly. Generally, the more the Fund diversifies its investments, the more it spreads risk and potentially reduces the risks of loss and volatility.

Financial Services Sector. The Fund may be more susceptible to the particular risks that may affect companies in the financial services sector than if it were invested in a wider variety of companies in unrelated sectors. Companies in the financial services sector are subject to certain risks, including the risk of regulatory change, decreased liquidity in credit markets and unstable interest rates. Such companies may have concentrated portfolios, such as a high level of loans to real estate developers, which makes them vulnerable to economic conditions that affect that industry. Performance of such companies may be affected by competitive pressures and exposure to investments or agreements that, under certain circumstances, may lead to losses (e.g., subprime loans). Companies in the financial services sector are subject to extensive governmental regulation that may limit the amount and types of loans and other financial commitments they can make, and interest rates and fees that they may charge. In addition, profitability of such companies is largely dependent upon the availability and the cost of capital.

Industrials Sector. The Fund may be more susceptible to the particular risks that may affect companies in the industrials sector than if it were invested in a wider variety of companies in unrelated sectors. Companies in the industrials sector are subject to certain risks, including changes in supply and demand for their specific product or service and for industrial sector products in general, including decline in demand for such products due to rapid technological developments and frequent new product introduction. Performance of such companies may be affected by factors including government regulation, world events and economic conditions and risks for environmental damage and product liability claims.

Select Portfolio Risk. Because the Fund may invest in a limited number of companies, the Fund as a whole is subject to greater risk of loss if any of its portfolio securities decline in price. The Fund accordingly may be more susceptible to economic, political and regulatory developments than a fund that invests in a greater number of companies. In addition, the Fund’s holdings and weightings will diverge significantly from its primary benchmark’s holdings and weightings and the Fund may therefore experience greater risk and volatility relative to the benchmark. Because the Fund may invest in more than one company concentrated in a similar industry, sector or geographic region, the Fund may be even more concentrated than the number of companies it may hold would suggest.

Liquidity and Trading Volume Risk. Due to market conditions, including uncertainty regarding the price of a security, it may be difficult for the Fund to buy or sell portfolio securities at a desirable time or price, which could result in investment losses. This risk of portfolio illiquidity is heightened with respect to small- and mid-cap securities, generally, and foreign small- and mid-cap securities in particular. The Fund may have to lower the selling price, liquidate other investments, or forego another, more appealing investment opportunity as a result of illiquidity in the markets. The Fund may also be limited in its ability to execute favorable trades in portfolio securities in response to changes in share prices and fundamentals, and may be forced to dispose of securities under disadvantageous circumstances and at a loss. As the Fund grows in size or, conversely, if it faces significant redemption pressure, these considerations take on increasing significance and may adversely impact performance.

Foreign Securities Risk. Investments in or exposure to foreign securities involve certain risks not associated with investments in or exposure to securities of U.S. companies. Foreign securities subject the Fund to the risks associated with investing in the particular country of an issuer, including political, regulatory, economic, social, diplomatic and other conditions or events (including, for example, military confrontations, war and terrorism), occurring in the country or region, as well as risks associated with less developed custody and settlement practices. Foreign securities may be more volatile and less liquid than securities of U.S. companies, and are subject to the risks associated with potential imposition of economic and other sanctions against a particular foreign country, its nationals or industries or businesses within the country. In addition, foreign governments may impose withholding or other taxes on the Fund’s income, capital gains or proceeds from the disposition of foreign securities, which could reduce the Fund’s return on such securities.

Operational and Settlement Risks of Foreign Securities. The Fund’s foreign securities are generally held outside the United States in the primary market for the securities in the custody of foreign sub-custodians. Some countries have limited governmental oversight and regulation, which increases the risk of corruption and fraud and the possibility of losses to the Fund. In particular, under certain circumstances, foreign securities may settle on a delayed delivery basis, meaning that the Fund may be required to make payment for securities before the Fund has actually received delivery of the securities or deliver securities prior to the receipt of payment. As a result, there is a risk that the security will not be delivered to the Fund or that payment will not be received. Losses can also result from lost, stolen or counterfeit securities; defaults by brokers and banks; failures or defects of the settlement system; or poor and improper record keeping by registrars and issuers.

Share Blocking. In certain non-U.S. markets, an issuer’s securities are blocked from trading for a specified number of days before and, in certain instances, after a shareholder meeting. The blocking period can last up to several weeks. Share blocking may prevent the Fund from buying or selling securities during this period. As a consequence of these restrictions, the Investment Manager, on behalf of the Fund, may abstain from voting proxies in markets that require share blocking.

Emerging Market Securities Risk. Securities issued by foreign governments or companies in emerging market countries, such as China, Russia and certain countries 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 changes or developments in social, political, economic or other conditions. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity (i.e., lower trading volumes and less liquidity) 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 and have fewer trading partners, which makes them more sensitive to world commodity prices and economic downturns in other countries, and some have a higher risk of currency devaluations.

Operational and Settlement Risks of Securities in Emerging Markets. Foreign sub-custodians in emerging markets may be recently organized, lack extensive operating experience or lack effective government oversight or regulation. In addition, there may be legal restrictions or limitations on the ability of the Fund to recover assets held in custody by a foreign sub-custodian in the event of the bankruptcy of the sub-custodian. There may also be a greater risk that settlement may be delayed and that cash or securities of the Fund may be lost because of failures of or defects in the system, including fraud or corruption. Settlement systems in emerging markets also have a higher risk of failed trades.

Risks Related to Currencies and Corporate Actions in Emerging Markets. Risks related to currencies and corporate actions are also greater in emerging market countries than in developed countries. Emerging market currencies may not have an active trading market and are subject to a higher risk of currency devaluations.

Risks Related to Corporate and Securities Laws in Emerging Markets. Securities laws in emerging markets may be relatively new and unsettled and, consequently, there is a risk of rapid and unpredictable change in laws regarding foreign investment, securities regulation, title to securities and shareholder rights.

Small- and Mid-Cap Company Securities Risk. Investments in small- and mid-cap companies often involve greater risks than investments in larger, more established companies because small- and mid-cap companies tend to have less predictable earnings and may lack the management experience, financial resources, product diversification and competitive strengths of larger companies. Securities of small- and mid-cap companies may be less liquid and more volatile than the securities of larger companies.

Large-Cap Company Securities Risk. Larger, more established companies may be unable to respond quickly to new competitive challenges, such as changes in consumer tastes or innovative smaller competitors. Also, large-cap companies are sometimes unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion.

Issuer Risk. An issuer in which the Fund invests may perform poorly, and the value of its securities may therefore decline, which may negatively affect the Fund’s performance. Underperformance may be caused by poor management decisions, competitive pressures, breakthroughs in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent disclosures, natural disasters or other events, conditions or factors.

Market Risk. The market values of securities or other investments that the Fund holds will fall, sometimes rapidly or unpredictably, or fail to rise. An investment in the Fund could lose money over short or long periods.

Foreign Currency Risk. The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar, particularly if the Fund invests a significant percentage of its assets in foreign securities or other assets denominated in currencies other than the U.S. dollar.

Geographic Focus Risk. The Fund may be particularly susceptible to economic, political, regulatory or other events or conditions affecting issuers and countries within the specific geographic regions in which the Fund invests. The Fund’s NAV may be more volatile than the NAV of a more geographically diversified fund.

Asia Pacific Region. Many of the countries in the Asia Pacific region are considered underdeveloped or developing, including from a political, economic and/or social perspective, and may have relatively unstable governments and economies based on limited business, industries and/or natural resources or commodities. Events in any one country within the region may impact other countries in the region or the region as a whole. As a result, events in the region will generally have a greater effect on the Fund than if the Fund were more geographically diversified. This could result in increased volatility in the value of the Fund’s investments and losses for the Fund. Also, securities of some companies in the region can be less liquid than U.S. or other foreign securities, potentially making it difficult for the Fund to sell such securities at a desirable time and price.

Europe. The Fund is particularly susceptible to economic, political, regulatory or other events or conditions affecting issuers and countries in Europe. In addition, the private and public sectors’ debt problems of a single European Union (EU) country can pose significant economic risks to the EU as a whole. As a result, the Fund’s NAV may be more volatile than the NAV of a more geographically diversified fund. If securities of issuers in Europe fall out of favor, it may cause the Fund to underperform other funds that do not focus their investments in this region of the world. The United Kingdom (UK) was scheduled to give notice of its plans to leave the EU (commonly known as "Brexit") effective March 30, 2019, but that deadline was extended by the EU while the British Parliament considers ratification of the withdrawal agreement, and the future and full impact of Brexit remain uncertain. During this period and beyond, the impact of any partial or complete dissolution of the EU on the UK and European economies and the broader global economy could be significant, resulting in negative impacts on currency and financial markets generally, such as increased volatility and illiquidity, and potentially lower economic growth in markets in Europe, which may adversely affect the value of your investment in the Fund.

Growth Securities Risk. Growth securities typically trade at a higher multiple of earnings than other types of equity securities. Accordingly, the market values of growth securities may never reach their expected market value and may decline in price. In addition, growth securities, at times, may not perform as well as value securities or the stock market in general, and may be out of favor with investors for varying periods of time.
<b>Performance Information </b>
The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund’s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund’s returns for the periods shown with those of the MSCI ACWI ex USA Growth Index (Net), the Fund's primary benchmark, and those of the MSCI ACWI ex USA Index (Net), the Fund's secondary benchmark. The MSCI ACWI ex USA Growth Index (Net) captures large- and mid-cap securities exhibiting overall growth style characteristics across 22 developed markets countries and 24 emerging markets countries. The MSCI ACWI ex USA Index (Net) captures large- and mid-cap representation across 22 of 23 developed market countries (excluding the United States) and 24 emerging markets countries. As of March 31, 2019, the MSCI ACWI ex USA Index (Net) had 2,184 constituents and covered approximately 85% of the global equity opportunity set outside the United States. Effective May 1, 2019, the MSCI ACWI ex USA Growth Index (Net) became the Fund’s primary benchmark; prior to May 1, 2019, this index was the Fund’s secondary benchmark. Also effective May 1, 2019, the MSCI ACWI ex USA Index (Net) became the Fund’s secondary benchmark; prior to May 1, 2019 this index was the Fund’s primary benchmark. The Investment Manager switched the Fund’s primary and secondary benchmarks because the Investment Manager believes that the Fund’s portfolio more closely aligns with the MSCI ACWI ex USA Growth Index (Net). The Investment Manager believes that the MSCI ACWI ex USA Index (Net) continues to provide a meaningful additional basis for comparing the Fund's performance because the Fund’s portfolio will generally be closely aligned with the index from an investment style perspective.

The performance of one or more share classes shown in the Average Annual Total Returns table below includes the Fund’s Class Inst share returns (adjusted to reflect the higher class-related operating expenses of such classes, where applicable) for periods prior to the indicated inception date of such share classes. Except for differences in fees and expenses, all share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities.

The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. Your actual after-tax returns will depend on your personal tax situation and may differ from those shown in the table. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class Inst shares and will vary for other share classes. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares.

The Fund’s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future. Updated performance information can be obtained by calling toll-free 800.345.6611 or visiting columbiathreadneedleus.com.
<b>Year by Year Total Return (%)<br/>as of December 31 Each Year</b>
Bar Chart
[1] Year to Date return as of March 31, 2019: 15.67%
Best and Worst Quarterly Returns
During the Period Shown in the Bar Chart

Best                                                          2nd Quarter 2009                                                         23.44%

Worst                                                       4th Quarter 2018                                                         -15.84%
<b>Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2018)</b>
Average Annual Total Returns - Columbia Acorn International Select
Share Class Inception Date
1 Year
5 Years
10 Years
Class Inst Nov. 23, 1998 (12.28%) 2.13% 8.49%
Class Inst | returns after taxes on distributions Nov. 23, 1998 (13.72%) 1.10% 7.32%
Class Inst | returns after taxes on distributions and sale of Fund shares Nov. 23, 1998 (6.13%) 1.64% 6.94%
Class A Oct. 16, 2000 (17.49%) 0.66% 7.51%
Class Adv Nov. 08, 2012 (12.26%) 2.12% 8.47%
Class C Oct. 16, 2000 (13.91%) 1.09% 7.32%
Class Inst2 Nov. 08, 2012 (12.16%) 2.20% 8.52%
Class Inst3 Nov. 08, 2012 (12.14%) 2.25% 8.55%
MSCI ACWI ex USA Growth Index (Net) (reflects reinvested dividends net of withholding taxes but reflects no deductions for fees, expenses or other taxes)   (14.43%) 1.69% 7.15%
MSCI ACWI ex USA Index (Net) (reflects reinvested dividends net of withholding taxes but reflects no deductions for fees, expenses or other taxes)   (14.20%) 0.68% 6.57%
XML 24 R41.htm IDEA: XBRL DOCUMENT v3.19.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName COLUMBIA ACORN TRUST
Prospectus Date rr_ProspectusDate May 01, 2019
Columbia Acorn International Select  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading SUMMARY OF THE FUND
Objective [Heading] rr_ObjectiveHeading <b>Investment Objective </b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock Columbia Acorn International SelectSM (the Fund) seeks long-term capital appreciation.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund </b>
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. An investor transacting in a class of Fund shares without any front-end sales charge, contingent deferred sales charge, or other asset-based fee for sales or distribution may be required to pay a commission to the financial intermediary for effecting such transactions. Such commission rates are set by the financial intermediary and are not reflected in the tables or the example below. You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 26 of the Fund’s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <b>Shareholder Fees (fees paid directly from your investment) </b>
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) </b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination April 30, 2020
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover </b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund may pay transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 48% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 48.00%
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 26 of the Fund’s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 50,000
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent Other expenses have been restated to reflect current transfer agency fees paid by the Fund.
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees "Total annual Fund operating expenses" include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
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 the applicable class of Fund shares for the periods indicated,
  • your investment has a 5% return each year, and
  • the Fund’s total annual operating expenses remain the same as shown in the Annual Fund Operating Expenses table above.
Since the waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire as indicated in the preceding table, they are only reflected in the 1 year example and the first year of the other examples. Although your actual costs may be higher or lower, based on the assumptions listed above, your costs would be:
Strategy [Heading] rr_StrategyHeading <b>Principal Investment Strategies </b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock Under normal circumstances, the Fund invests at least 65% of its net assets in foreign companies in developed markets (for example, Japan, Canada and the United Kingdom).

The Fund also may invest up to 35% of its total assets in companies in emerging markets (for example, China, India and Brazil). The Fund generally invests in at least three countries other than the United States but may invest up to 25% of its total assets in securities of U.S. issuers.

Under normal circumstances, the Fund (i) invests a majority of its net assets in the common stock of small- and mid-sized companies with market capitalizations under $25 billion at the time of initial investment (“Focus Stocks”) and (ii) may also invest in companies with market capitalizations above $25 billion, provided that immediately after that investment a majority of the Fund’s net assets would be invested in Focus Stocks. The Fund may continue to hold, and make additional investments in, Focus Stocks whose market capitalizations have grown to exceed $25 billion, regardless of whether the Fund’s investments in Focus Stocks are a majority of the Fund’s net assets.

Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Investment Manager), believes that stocks of small- and mid-sized companies, 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 also may invest in larger-sized companies. The Fund may from time to time emphasize one or more sectors in selecting its investments.

The Fund invests in a limited number of foreign companies (generally between 30-60), offering the potential to provide above-average growth over time. In pursuit of the Fund’s objective, the portfolio managers will take advantage of the research and stock-picking capabilities of the Investment Manager and will generally concentrate the Fund’s investments in those sectors, companies, geographic regions or industries that the portfolio managers believe offer the best investment return potential.

The Investment Manager typically seeks companies with:
  • A strong business franchise that offers growth potential.
  • Products and services in which the company has a competitive advantage.
  • A stock price the Investment Manager believes is reasonable relative to the assets and earning power of the company.
The Investment Manager may sell a portfolio holding if the security reaches the Investment Manager's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Investment Manager believes other securities are more attractive. The Investment Manager also may sell a portfolio holding to fund redemptions.
Risk [Heading] rr_RiskHeading <b>Principal Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock An investment in the Fund involves risks, including those described below. There is no assurance that the Fund will achieve its investment objective and you may lose money. The value of the Fund’s holdings may decline, and the Fund’s net asset value (NAV) and share price may go down. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

Active Management Risk. The Investment Manager’s active management of the Fund could cause the Fund to underperform its benchmark index and/or other funds with similar investment objectives and/or strategies.

Sector Risk. At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business within one or more economic sectors. Companies in the same sector may be similarly affected by economic, regulatory, political or market events or conditions, which may make the Fund more vulnerable to unfavorable developments in that sector than funds that invest more broadly. Generally, the more the Fund diversifies its investments, the more it spreads risk and potentially reduces the risks of loss and volatility.

Financial Services Sector. The Fund may be more susceptible to the particular risks that may affect companies in the financial services sector than if it were invested in a wider variety of companies in unrelated sectors. Companies in the financial services sector are subject to certain risks, including the risk of regulatory change, decreased liquidity in credit markets and unstable interest rates. Such companies may have concentrated portfolios, such as a high level of loans to real estate developers, which makes them vulnerable to economic conditions that affect that industry. Performance of such companies may be affected by competitive pressures and exposure to investments or agreements that, under certain circumstances, may lead to losses (e.g., subprime loans). Companies in the financial services sector are subject to extensive governmental regulation that may limit the amount and types of loans and other financial commitments they can make, and interest rates and fees that they may charge. In addition, profitability of such companies is largely dependent upon the availability and the cost of capital.

Industrials Sector. The Fund may be more susceptible to the particular risks that may affect companies in the industrials sector than if it were invested in a wider variety of companies in unrelated sectors. Companies in the industrials sector are subject to certain risks, including changes in supply and demand for their specific product or service and for industrial sector products in general, including decline in demand for such products due to rapid technological developments and frequent new product introduction. Performance of such companies may be affected by factors including government regulation, world events and economic conditions and risks for environmental damage and product liability claims.

Select Portfolio Risk. Because the Fund may invest in a limited number of companies, the Fund as a whole is subject to greater risk of loss if any of its portfolio securities decline in price. The Fund accordingly may be more susceptible to economic, political and regulatory developments than a fund that invests in a greater number of companies. In addition, the Fund’s holdings and weightings will diverge significantly from its primary benchmark’s holdings and weightings and the Fund may therefore experience greater risk and volatility relative to the benchmark. Because the Fund may invest in more than one company concentrated in a similar industry, sector or geographic region, the Fund may be even more concentrated than the number of companies it may hold would suggest.

Liquidity and Trading Volume Risk. Due to market conditions, including uncertainty regarding the price of a security, it may be difficult for the Fund to buy or sell portfolio securities at a desirable time or price, which could result in investment losses. This risk of portfolio illiquidity is heightened with respect to small- and mid-cap securities, generally, and foreign small- and mid-cap securities in particular. The Fund may have to lower the selling price, liquidate other investments, or forego another, more appealing investment opportunity as a result of illiquidity in the markets. The Fund may also be limited in its ability to execute favorable trades in portfolio securities in response to changes in share prices and fundamentals, and may be forced to dispose of securities under disadvantageous circumstances and at a loss. As the Fund grows in size or, conversely, if it faces significant redemption pressure, these considerations take on increasing significance and may adversely impact performance.

Foreign Securities Risk. Investments in or exposure to foreign securities involve certain risks not associated with investments in or exposure to securities of U.S. companies. Foreign securities subject the Fund to the risks associated with investing in the particular country of an issuer, including political, regulatory, economic, social, diplomatic and other conditions or events (including, for example, military confrontations, war and terrorism), occurring in the country or region, as well as risks associated with less developed custody and settlement practices. Foreign securities may be more volatile and less liquid than securities of U.S. companies, and are subject to the risks associated with potential imposition of economic and other sanctions against a particular foreign country, its nationals or industries or businesses within the country. In addition, foreign governments may impose withholding or other taxes on the Fund’s income, capital gains or proceeds from the disposition of foreign securities, which could reduce the Fund’s return on such securities.

Operational and Settlement Risks of Foreign Securities. The Fund’s foreign securities are generally held outside the United States in the primary market for the securities in the custody of foreign sub-custodians. Some countries have limited governmental oversight and regulation, which increases the risk of corruption and fraud and the possibility of losses to the Fund. In particular, under certain circumstances, foreign securities may settle on a delayed delivery basis, meaning that the Fund may be required to make payment for securities before the Fund has actually received delivery of the securities or deliver securities prior to the receipt of payment. As a result, there is a risk that the security will not be delivered to the Fund or that payment will not be received. Losses can also result from lost, stolen or counterfeit securities; defaults by brokers and banks; failures or defects of the settlement system; or poor and improper record keeping by registrars and issuers.

Share Blocking. In certain non-U.S. markets, an issuer’s securities are blocked from trading for a specified number of days before and, in certain instances, after a shareholder meeting. The blocking period can last up to several weeks. Share blocking may prevent the Fund from buying or selling securities during this period. As a consequence of these restrictions, the Investment Manager, on behalf of the Fund, may abstain from voting proxies in markets that require share blocking.

Emerging Market Securities Risk. Securities issued by foreign governments or companies in emerging market countries, such as China, Russia and certain countries 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 changes or developments in social, political, economic or other conditions. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity (i.e., lower trading volumes and less liquidity) 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 and have fewer trading partners, which makes them more sensitive to world commodity prices and economic downturns in other countries, and some have a higher risk of currency devaluations.

Operational and Settlement Risks of Securities in Emerging Markets. Foreign sub-custodians in emerging markets may be recently organized, lack extensive operating experience or lack effective government oversight or regulation. In addition, there may be legal restrictions or limitations on the ability of the Fund to recover assets held in custody by a foreign sub-custodian in the event of the bankruptcy of the sub-custodian. There may also be a greater risk that settlement may be delayed and that cash or securities of the Fund may be lost because of failures of or defects in the system, including fraud or corruption. Settlement systems in emerging markets also have a higher risk of failed trades.

Risks Related to Currencies and Corporate Actions in Emerging Markets. Risks related to currencies and corporate actions are also greater in emerging market countries than in developed countries. Emerging market currencies may not have an active trading market and are subject to a higher risk of currency devaluations.

Risks Related to Corporate and Securities Laws in Emerging Markets. Securities laws in emerging markets may be relatively new and unsettled and, consequently, there is a risk of rapid and unpredictable change in laws regarding foreign investment, securities regulation, title to securities and shareholder rights.

Small- and Mid-Cap Company Securities Risk. Investments in small- and mid-cap companies often involve greater risks than investments in larger, more established companies because small- and mid-cap companies tend to have less predictable earnings and may lack the management experience, financial resources, product diversification and competitive strengths of larger companies. Securities of small- and mid-cap companies may be less liquid and more volatile than the securities of larger companies.

Large-Cap Company Securities Risk. Larger, more established companies may be unable to respond quickly to new competitive challenges, such as changes in consumer tastes or innovative smaller competitors. Also, large-cap companies are sometimes unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion.

Issuer Risk. An issuer in which the Fund invests may perform poorly, and the value of its securities may therefore decline, which may negatively affect the Fund’s performance. Underperformance may be caused by poor management decisions, competitive pressures, breakthroughs in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent disclosures, natural disasters or other events, conditions or factors.

Market Risk. The market values of securities or other investments that the Fund holds will fall, sometimes rapidly or unpredictably, or fail to rise. An investment in the Fund could lose money over short or long periods.

Foreign Currency Risk. The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar, particularly if the Fund invests a significant percentage of its assets in foreign securities or other assets denominated in currencies other than the U.S. dollar.

Geographic Focus Risk. The Fund may be particularly susceptible to economic, political, regulatory or other events or conditions affecting issuers and countries within the specific geographic regions in which the Fund invests. The Fund’s NAV may be more volatile than the NAV of a more geographically diversified fund.

Asia Pacific Region. Many of the countries in the Asia Pacific region are considered underdeveloped or developing, including from a political, economic and/or social perspective, and may have relatively unstable governments and economies based on limited business, industries and/or natural resources or commodities. Events in any one country within the region may impact other countries in the region or the region as a whole. As a result, events in the region will generally have a greater effect on the Fund than if the Fund were more geographically diversified. This could result in increased volatility in the value of the Fund’s investments and losses for the Fund. Also, securities of some companies in the region can be less liquid than U.S. or other foreign securities, potentially making it difficult for the Fund to sell such securities at a desirable time and price.

Europe. The Fund is particularly susceptible to economic, political, regulatory or other events or conditions affecting issuers and countries in Europe. In addition, the private and public sectors’ debt problems of a single European Union (EU) country can pose significant economic risks to the EU as a whole. As a result, the Fund’s NAV may be more volatile than the NAV of a more geographically diversified fund. If securities of issuers in Europe fall out of favor, it may cause the Fund to underperform other funds that do not focus their investments in this region of the world. The United Kingdom (UK) was scheduled to give notice of its plans to leave the EU (commonly known as "Brexit") effective March 30, 2019, but that deadline was extended by the EU while the British Parliament considers ratification of the withdrawal agreement, and the future and full impact of Brexit remain uncertain. During this period and beyond, the impact of any partial or complete dissolution of the EU on the UK and European economies and the broader global economy could be significant, resulting in negative impacts on currency and financial markets generally, such as increased volatility and illiquidity, and potentially lower economic growth in markets in Europe, which may adversely affect the value of your investment in the Fund.

Growth Securities Risk. Growth securities typically trade at a higher multiple of earnings than other types of equity securities. Accordingly, the market values of growth securities may never reach their expected market value and may decline in price. In addition, growth securities, at times, may not perform as well as value securities or the stock market in general, and may be out of favor with investors for varying periods of time.
Risk Lose Money [Text] rr_RiskLoseMoney There is no assurance that the Fund will achieve its investment objective and you may lose money.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>Performance Information </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund’s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund’s returns for the periods shown with those of the MSCI ACWI ex USA Growth Index (Net), the Fund's primary benchmark, and those of the MSCI ACWI ex USA Index (Net), the Fund's secondary benchmark. The MSCI ACWI ex USA Growth Index (Net) captures large- and mid-cap securities exhibiting overall growth style characteristics across 22 developed markets countries and 24 emerging markets countries. The MSCI ACWI ex USA Index (Net) captures large- and mid-cap representation across 22 of 23 developed market countries (excluding the United States) and 24 emerging markets countries. As of March 31, 2019, the MSCI ACWI ex USA Index (Net) had 2,184 constituents and covered approximately 85% of the global equity opportunity set outside the United States. Effective May 1, 2019, the MSCI ACWI ex USA Growth Index (Net) became the Fund’s primary benchmark; prior to May 1, 2019, this index was the Fund’s secondary benchmark. Also effective May 1, 2019, the MSCI ACWI ex USA Index (Net) became the Fund’s secondary benchmark; prior to May 1, 2019 this index was the Fund’s primary benchmark. The Investment Manager switched the Fund’s primary and secondary benchmarks because the Investment Manager believes that the Fund’s portfolio more closely aligns with the MSCI ACWI ex USA Growth Index (Net). The Investment Manager believes that the MSCI ACWI ex USA Index (Net) continues to provide a meaningful additional basis for comparing the Fund's performance because the Fund’s portfolio will generally be closely aligned with the index from an investment style perspective.

The performance of one or more share classes shown in the Average Annual Total Returns table below includes the Fund’s Class Inst share returns (adjusted to reflect the higher class-related operating expenses of such classes, where applicable) for periods prior to the indicated inception date of such share classes. Except for differences in fees and expenses, all share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities.

The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. Your actual after-tax returns will depend on your personal tax situation and may differ from those shown in the table. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class Inst shares and will vary for other share classes. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares.

The Fund’s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future. Updated performance information can be obtained by calling toll-free 800.345.6611 or visiting columbiathreadneedleus.com.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund’s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund’s returns for the periods shown with those of the MSCI ACWI ex USA Growth Index (Net), the Fund's primary benchmark, and those of the MSCI ACWI ex USA Index (Net), the Fund's secondary benchmark.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800.345.6611
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress columbiathreadneedleus.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture <b>The Fund’s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future.</b>
Bar Chart [Heading] rr_BarChartHeading <b>Year by Year Total Return (%)<br/>as of December 31 Each Year</b>
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock Best and Worst Quarterly Returns
During the Period Shown in the Bar Chart

Best                                                          2nd Quarter 2009                                                         23.44%

Worst                                                       4th Quarter 2018                                                         -15.84%
Performance Table Heading rr_PerformanceTableHeading <b>Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2018)</b>
Performance Table Market Index Changed rr_PerformanceTableMarketIndexChanged Effective May 1, 2019, the MSCI ACWI ex USA Growth Index (Net) became the Fund’s primary benchmark; prior to May 1, 2019, this index was the Fund’s secondary benchmark. Also effective May 1, 2019, the MSCI ACWI ex USA Index (Net) became the Fund’s secondary benchmark; prior to May 1, 2019 this index was the Fund’s primary benchmark. The Investment Manager switched the Fund’s primary and secondary benchmarks because the Investment Manager believes that the Fund’s portfolio more closely aligns with the MSCI ACWI ex USA Growth Index (Net). The Investment Manager believes that the MSCI ACWI ex USA Index (Net) continues to provide a meaningful additional basis for comparing the Fund's performance because the Fund’s portfolio will generally be closely aligned with the index from an investment style perspective.
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs).
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown The after-tax returns are shown only for Class Inst shares and will vary for other share classes.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares.
Columbia Acorn International Select | Class A  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther 1.00% [1]
Management fees rr_ManagementFeesOverAssets 0.89%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other expenses rr_OtherExpensesOverAssets 0.39% [2]
Total annual Fund operating expenses rr_ExpensesOverAssets 1.53% [3]
Less: Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.13%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 1.40%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions.
1 year rr_ExpenseExampleYear01 $ 709
3 years rr_ExpenseExampleYear03 1,019
5 years rr_ExpenseExampleYear05 1,350
10 years rr_ExpenseExampleYear10 2,283
1 year rr_ExpenseExampleNoRedemptionYear01 709
3 years rr_ExpenseExampleNoRedemptionYear03 1,019
5 years rr_ExpenseExampleNoRedemptionYear05 1,350
10 years rr_ExpenseExampleNoRedemptionYear10 $ 2,283
1 Year rr_AverageAnnualReturnYear01 (17.49%)
5 Years rr_AverageAnnualReturnYear05 0.66%
10 Years rr_AverageAnnualReturnYear10 7.51%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Oct. 16, 2000
Columbia Acorn International Select | Class Adv  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.89%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.39% [2]
Total annual Fund operating expenses rr_ExpensesOverAssets 1.28% [3]
Less: Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.13%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 1.15%
1 year rr_ExpenseExampleYear01 $ 117
3 years rr_ExpenseExampleYear03 393
5 years rr_ExpenseExampleYear05 690
10 years rr_ExpenseExampleYear10 1,534
1 year rr_ExpenseExampleNoRedemptionYear01 117
3 years rr_ExpenseExampleNoRedemptionYear03 393
5 years rr_ExpenseExampleNoRedemptionYear05 690
10 years rr_ExpenseExampleNoRedemptionYear10 $ 1,534
1 Year rr_AverageAnnualReturnYear01 (12.26%)
5 Years rr_AverageAnnualReturnYear05 2.12%
10 Years rr_AverageAnnualReturnYear10 8.47%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Nov. 08, 2012
Columbia Acorn International Select | Class C  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther 1.00% [5]
Management fees rr_ManagementFeesOverAssets 0.89%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other expenses rr_OtherExpensesOverAssets 0.39% [2]
Total annual Fund operating expenses rr_ExpensesOverAssets 2.28% [3]
Less: Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.13%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 2.15%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock This charge applies to redemptions within 12 months after purchase, with certain limited exceptions.
1 year rr_ExpenseExampleYear01 $ 318
3 years rr_ExpenseExampleYear03 700
5 years rr_ExpenseExampleYear05 1,208
10 years rr_ExpenseExampleYear10 2,605
1 year rr_ExpenseExampleNoRedemptionYear01 218
3 years rr_ExpenseExampleNoRedemptionYear03 700
5 years rr_ExpenseExampleNoRedemptionYear05 1,208
10 years rr_ExpenseExampleNoRedemptionYear10 $ 2,605
1 Year rr_AverageAnnualReturnYear01 (13.91%)
5 Years rr_AverageAnnualReturnYear05 1.09%
10 Years rr_AverageAnnualReturnYear10 7.32%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Oct. 16, 2000
Columbia Acorn International Select | Class Inst  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.89%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.39% [2]
Total annual Fund operating expenses rr_ExpensesOverAssets 1.28% [3]
Less: Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.13%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 1.15%
1 year rr_ExpenseExampleYear01 $ 117
3 years rr_ExpenseExampleYear03 393
5 years rr_ExpenseExampleYear05 690
10 years rr_ExpenseExampleYear10 1,534
1 year rr_ExpenseExampleNoRedemptionYear01 117
3 years rr_ExpenseExampleNoRedemptionYear03 393
5 years rr_ExpenseExampleNoRedemptionYear05 690
10 years rr_ExpenseExampleNoRedemptionYear10 $ 1,534
2009 rr_AnnualReturn2009 31.52% [6]
2010 rr_AnnualReturn2010 21.89% [6]
2011 rr_AnnualReturn2011 (9.76%) [6]
2012 rr_AnnualReturn2012 22.42% [6]
2013 rr_AnnualReturn2013 14.75% [6]
2014 rr_AnnualReturn2014 (6.79%) [6]
2015 rr_AnnualReturn2015 (1.03%) [6]
2016 rr_AnnualReturn2016 1.18% [6]
2017 rr_AnnualReturn2017 35.70% [6]
2018 rr_AnnualReturn2018 (12.28%) [6]
Year to Date Return, Label rr_YearToDateReturnLabel Year to Date return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2019
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 15.67%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 23.44%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2018
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (15.84%)
1 Year rr_AverageAnnualReturnYear01 (12.28%)
5 Years rr_AverageAnnualReturnYear05 2.13%
10 Years rr_AverageAnnualReturnYear10 8.49%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Nov. 23, 1998
Columbia Acorn International Select | Class Inst2  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.89%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.31% [2]
Total annual Fund operating expenses rr_ExpensesOverAssets 1.20% [3]
Less: Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.14%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 1.06%
1 year rr_ExpenseExampleYear01 $ 108
3 years rr_ExpenseExampleYear03 367
5 years rr_ExpenseExampleYear05 646
10 years rr_ExpenseExampleYear10 1,442
1 year rr_ExpenseExampleNoRedemptionYear01 108
3 years rr_ExpenseExampleNoRedemptionYear03 367
5 years rr_ExpenseExampleNoRedemptionYear05 646
10 years rr_ExpenseExampleNoRedemptionYear10 $ 1,442
1 Year rr_AverageAnnualReturnYear01 (12.16%)
5 Years rr_AverageAnnualReturnYear05 2.20%
10 Years rr_AverageAnnualReturnYear10 8.52%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Nov. 08, 2012
Columbia Acorn International Select | Class Inst3  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.89%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.26% [2]
Total annual Fund operating expenses rr_ExpensesOverAssets 1.15% [3]
Less: Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.14%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 1.01%
1 year rr_ExpenseExampleYear01 $ 103
3 years rr_ExpenseExampleYear03 351
5 years rr_ExpenseExampleYear05 619
10 years rr_ExpenseExampleYear10 1,385
1 year rr_ExpenseExampleNoRedemptionYear01 103
3 years rr_ExpenseExampleNoRedemptionYear03 351
5 years rr_ExpenseExampleNoRedemptionYear05 619
10 years rr_ExpenseExampleNoRedemptionYear10 $ 1,385
1 Year rr_AverageAnnualReturnYear01 (12.14%)
5 Years rr_AverageAnnualReturnYear05 2.25%
10 Years rr_AverageAnnualReturnYear10 8.55%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Nov. 08, 2012
Columbia Acorn International Select | returns after taxes on distributions | Class Inst  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (13.72%)
5 Years rr_AverageAnnualReturnYear05 1.10%
10 Years rr_AverageAnnualReturnYear10 7.32%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Nov. 23, 1998
Columbia Acorn International Select | returns after taxes on distributions and sale of Fund shares | Class Inst  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (6.13%)
5 Years rr_AverageAnnualReturnYear05 1.64%
10 Years rr_AverageAnnualReturnYear10 6.94%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Nov. 23, 1998
Columbia Acorn International Select | MSCI ACWI ex USA Growth Index (Net) (reflects reinvested dividends net of withholding taxes but reflects no deductions for fees, expenses or other taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (14.43%)
5 Years rr_AverageAnnualReturnYear05 1.69%
10 Years rr_AverageAnnualReturnYear10 7.15%
Columbia Acorn International Select | MSCI ACWI ex USA Index (Net) (reflects reinvested dividends net of withholding taxes but reflects no deductions for fees, expenses or other taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (14.20%)
5 Years rr_AverageAnnualReturnYear05 0.68%
10 Years rr_AverageAnnualReturnYear10 6.57%
[1] This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions.
[2] Other expenses have been restated to reflect current transfer agency fees paid by the Fund.
[3] "Total annual Fund operating expenses" include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses.
[4] Columbia Wanger Asset Management, LLC (the Investment Manager) has contractually agreed to waive fees and reimburse certain expenses of the Fund, through April 30, 2020, so that ordinary operating expenses (excluding transaction costs and certain other investment-related expenses, 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 1.40% for Class A shares, 1.15% for Class Adv shares, 2.15% for Class C shares, 1.15% for Class Inst shares, 1.06% for Class Inst2 shares and 1.01% for Class Inst3 shares. This arrangement may only be amended or terminated with approval from the Fund’s Board of Trustees and the Investment Manager. The fee waivers and/or expense reimbursements shown in the table also reflect the contractual agreement of the Fund’s transfer agent, Columbia Management Investment Services Corp. (the Transfer Agent), to waive a portion of its fees through April 30, 2020, such that the Fund’s transfer agency fees do not exceed the annual rates of 0.05% of the average daily net assets of Class Inst2 shares and 0.00% of the average daily net assets of Class Inst3 shares.
[5] This charge applies to redemptions within 12 months after purchase, with certain limited exceptions.
[6] Year to Date return as of March 31, 2019: 15.67%
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Columbia Acorn Select
SUMMARY OF THE FUND
<b>Investment Objective </b>
Columbia Acorn SelectSM (the Fund) seeks long-term capital appreciation.
<b>Fees and Expenses of the Fund </b>
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. An investor transacting in a class of Fund shares without any front-end sales charge, contingent deferred sales charge, or other asset-based fee for sales or distribution may be required to pay a commission to the financial intermediary for effecting such transactions. Such commission rates are set by the financial intermediary and are not reflected in the tables or the example below. You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 24 of the Fund’s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1.
<b>Shareholder Fees (fees paid directly from your investment) </b>
Shareholder Fees - Columbia Acorn Select
Class A
Class C
Class Adv
Class Inst
Class Inst2
Class Inst3
Maximum sales charge (load) imposed on purchases (as a % of offering price) 5.75% none none none none none
Maximum deferred sales charge (load) imposed on redemptions (as a % of the lower of the original purchase price or current net asset value) 1.00% [1] 1.00% [2] none none none none
[1] This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions.
[2] This charge applies to redemptions within 12 months after purchase, with certain limited exceptions.
<b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) </b>
Annual Fund Operating Expenses - Columbia Acorn Select
Class A
Class Adv
Class C
Class Inst
Class Inst2
Class Inst3
Management fees 0.85% 0.85% 0.85% 0.85% 0.85% 0.85%
Distribution and/or service (12b-1) fees 0.25% none 1.00% none none none
Other expenses [1] 0.28% 0.28% 0.28% 0.28% 0.20% 0.15%
Total annual Fund operating expenses [2] 1.38% 1.13% 2.13% 1.13% 1.05% 1.00%
Less: Fee waivers and/or expense reimbursements [3] (0.21%) (0.21%) (0.21%) (0.21%) (0.21%) (0.21%)
Total annual Fund operating expenses after fee waivers and/or expense reimbursements 1.17% 0.92% 1.92% 0.92% 0.84% 0.79%
[1] Other expenses have been restated to reflect current transfer agency fees paid by the Fund.
[2] “Total annual Fund operating expenses” include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses.
[3] Columbia Wanger Asset Management, LLC (the Investment Manager) has contractually agreed to waive 0.21% of the advisory fee otherwise payable to it by the Fund through April 30, 2020. This arrangement may only be amended or terminated with approval from the Fund's Board of Trustees and the Investment Manager.
<b>Example </b>
The following example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example illustrates the hypothetical expenses that you would incur over the time periods indicated, and assumes that:
  • you invest $10,000 in the applicable class of Fund shares for the periods indicated,
  • your investment has a 5% return each year, and
  • the Fund’s total annual operating expenses remain the same as shown in the Annual Fund Operating Expenses table above.
Since the waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire as indicated in the preceding table, they are only reflected in the 1 year example and the first year of the other examples. Although your actual costs may be higher or lower, based on the assumptions listed above, your costs would be:
Expense Example - Columbia Acorn Select - USD ($)
1 year
3 years
5 years
10 years
Class A 687 967 1,268 2,120
Class Adv 94 338 602 1,356
Class C 295 647 1,125 2,446
Class Inst 94 338 602 1,356
Class Inst2 86 313 559 1,264
Class Inst3 81 298 532 1,206
Expense Example, No Redemption - Columbia Acorn Select - USD ($)
1 year
3 years
5 years
10 years
Class A 687 967 1,268 2,120
Class Adv 94 338 602 1,356
Class C 195 647 1,125 2,446
Class Inst 94 338 602 1,356
Class Inst2 86 313 559 1,264
Class Inst3 81 298 532 1,206
<b>Portfolio Turnover </b>
The Fund may pay transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 60% of the average value of its portfolio.
<b>Principal Investment Strategies </b>
Under normal circumstances, the Fund (i) invests a majority of its net assets in the common stock of small- and mid-sized companies with market capitalizations under $20 billion at the time of initial investment (“Focus Stocks”) and (ii) may also invest in companies with market capitalizations above $20 billion, provided that immediately after that investment a majority of the Fund’s net assets would be invested in Focus Stocks. The Fund may continue to hold, and make additional investments in, Focus Stocks whose market capitalizations have grown to exceed $20 billion, regardless of whether the Fund’s investments in Focus Stocks are a majority of the Fund’s net assets.

Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Investment Manager), believes that stocks of small- and mid-sized companies, 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 invests the majority of its assets in U.S. companies, but also may invest up to 20% of its total assets in foreign companies in developed markets (for example, Japan, Canada and the United Kingdom). A portion of the Fund’s foreign exposure may also include companies in emerging markets (for example, China, India and Colombia).

The Fund also may invest up to 20% of its net assets in real estate investment trusts.

The Fund invests in a limited number of companies (generally between 20-40), offering the potential to provide above-average appreciation over time. In pursuit of the Fund's objective, the portfolio managers take advantage of the research and stock-picking capabilities of the Investment Manager. The Investment Manager seeks to select investments which offer the best combination of risk and return. The Investment Manager's efforts are generally focused on sectors, industries and companies which provide higher expected growth than the overall U.S. economy.

The Investment Manager typically seeks companies with:
  • A strong business franchise that offers growth potential.
  • Products and services in which the company has a competitive advantage.
  • A stock price the Investment Manager believes is reasonable relative to the assets and earning power of the company.
The Investment Manager may sell a portfolio holding if the security reaches the Investment Manager's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Investment Manager believes other securities are more attractive. The Investment Manager also may sell a portfolio holding to fund redemptions.
<b>Principal Risks </b>
An investment in the Fund involves risks, including those described below. There is no assurance that the Fund will achieve its investment objective and you may lose money. The value of the Fund’s holdings may decline, and the Fund’s net asset value (NAV) and share price may go down. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

Select Portfolio Risk. Because the Fund may invest in a limited number of companies, the Fund as a whole is subject to greater risk of loss if any of its portfolio securities decline in price. The Fund accordingly may be more susceptible to economic, political and regulatory developments than a fund that invests in a greater number of companies. In addition, the Fund’s holdings and weightings will diverge significantly from its primary benchmark’s holdings and weightings and the Fund may therefore experience greater risk and volatility relative to the benchmark. Because the Fund may invest in more than one company concentrated in a similar industry, sector or geographic region, the Fund may be even more concentrated than the number of companies it may hold would suggest.

Active Management Risk. The Investment Manager’s active management of the Fund could cause the Fund to underperform its benchmark index and/or other funds with similar investment objectives and/or strategies.

Market Risk. The market values of securities or other investments that the Fund holds will fall, sometimes rapidly or unpredictably, or fail to rise. An investment in the Fund could lose money over short or long periods.

Small- and Mid-Cap Company Securities Risk. Investments in small- and mid-cap companies often involve greater risks than investments in larger, more established companies because small- and mid-cap companies tend to have less predictable earnings and may lack the management experience, financial resources, product diversification and competitive strengths of larger companies. Securities of small- and mid-cap companies may be less liquid and more volatile than the securities of larger companies.

Issuer Risk. An issuer in which the Fund invests may perform poorly, and the value of its securities may therefore decline, which may negatively affect the Fund’s performance. Underperformance may be caused by poor management decisions, competitive pressures, breakthroughs in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent disclosures, natural disasters or other events, conditions or factors.

Growth Securities Risk. Growth securities typically trade at a higher multiple of earnings than other types of equity securities. Accordingly, the market values of growth securities may never reach their expected market value and may decline in price. In addition, growth securities, at times, may not perform as well as value securities or the stock market in general, and may be out of favor with investors for varying periods of time.

Sector Risk. At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business within one or more economic sectors. Companies in the same sector may be similarly affected by economic, regulatory, political or market events or conditions, which may make the Fund more vulnerable to unfavorable developments in that sector than funds that invest more broadly. Generally, the more the Fund diversifies its investments, the more it spreads risk and potentially reduces the risks of loss and volatility.

Information Technology and Technology-Related Sectors. The Fund may be more susceptible to the particular risks that may affect companies in the information technology sector, as well as other technology-related sectors (collectively, the technology sectors) than if it were invested in a wider variety of companies in unrelated sectors. Companies in the technology sectors are subject to certain risks, including the risk that new services, equipment or technologies will not be accepted by consumers and businesses or will become rapidly obsolete. Performance of such companies may be affected by factors including obtaining and protecting patents (or the failure to do so) and significant competitive pressures, including aggressive pricing of their products or services, new market entrants, competition for market share and short product cycles due to an accelerated rate of technological developments.

Such competitive pressures may lead to limited earnings and/or falling profit margins. As a result, the value of their securities may fall or fail to rise. In addition, many technology sector companies have limited operating histories and prices of these companies’ securities historically have been more volatile than other securities, especially over the short term.

Health Care Sector. The Fund may be more susceptible to the particular risks that may affect companies in the health care sector than if it were invested in a wider variety of companies in unrelated sectors. Companies in the health care sector are subject to certain risks, including restrictions on government reimbursement for medical expenses, government approval of medical products and services, competitive pricing pressures, and the rising cost of medical products and services (especially for companies dependent upon a relatively limited number of products or services). Performance of such companies may be affected by factors including, government regulation, obtaining and protecting patents (or the failure to do so), product liability and other similar litigation as well as product obsolescence.

Consumer Discretionary Sector. The Fund may be more susceptible to the particular risks that may affect companies in the consumer discretionary sector than if it were invested in a wider variety of companies in unrelated sectors. Companies in the consumer discretionary sector are subject to certain risks, including fluctuations in the performance of the overall domestic and international economy, interest rate changes, increased competition and consumer confidence. Performance of such companies may be affected by factors including reduced disposable household income, reduced consumer spending, changing demographics and consumer tastes.

Foreign Securities Risk. Investments in or exposure to foreign securities involve certain risks not associated with investments in or exposure to securities of U.S. companies. Foreign securities subject the Fund to the risks associated with investing in the particular country of an issuer, including political, regulatory, economic, social, diplomatic and other conditions or events (including, for example, military confrontations, war and terrorism), occurring in the country or region, as well as risks associated with less developed custody and settlement practices. Foreign securities may be more volatile and less liquid than securities of U.S. companies, and are subject to the risks associated with potential imposition of economic and other sanctions against a particular foreign country, its nationals or industries or businesses within the country. In addition, foreign governments may impose withholding or other taxes on the Fund’s income, capital gains or proceeds from the disposition of foreign securities, which could reduce the Fund’s return on such securities.

Operational and Settlement Risks of Foreign Securities. The Fund’s foreign securities are generally held outside the United States in the primary market for the securities in the custody of foreign sub-custodians. Some countries have limited governmental oversight and regulation, which increases the risk of corruption and fraud and the possibility of losses to the Fund. In particular, under certain circumstances, foreign securities may settle on a delayed delivery basis, meaning that the Fund may be required to make payment for securities before the Fund has actually received delivery of the securities or deliver securities prior to the receipt of payment. As a result, there is a risk that the security will not be delivered to the Fund or that payment will not be received. Losses can also result from lost, stolen or counterfeit securities; defaults by brokers and banks; failures or defects of the settlement system; or poor and improper record keeping by registrars and issuers.

Share Blocking. In certain non-U.S. markets, an issuer’s securities are blocked from trading for a specified number of days before and, in certain instances, after a shareholder meeting. The blocking period can last up to several weeks. Share blocking may prevent the Fund from buying or selling securities during this period. As a consequence of these restrictions, the Investment Manager, on behalf of the Fund, may abstain from voting proxies in markets that require share blocking.

Emerging Market Securities Risk. Securities issued by foreign governments or companies in emerging market countries, such as China, Russia and certain countries 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 changes or developments in social, political, economic or other conditions. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity (i.e., lower trading volumes and less liquidity) 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 and have fewer trading partners, which makes them more sensitive to world commodity prices and economic downturns in other countries, and some have a higher risk of currency devaluations.

Operational and Settlement Risks of Securities in Emerging Markets. Foreign sub-custodians in emerging markets may be recently organized, lack extensive operating experience or lack effective government oversight or regulation. In addition, there may be legal restrictions or limitations on the ability of the Fund to recover assets held in custody by a foreign sub-custodian in the event of the bankruptcy of the sub-custodian. There may also be a greater risk that settlement may be delayed and that cash or securities of the Fund may be lost because of failures of or defects in the system, including fraud or corruption. Settlement systems in emerging markets also have a higher risk of failed trades.

Risks Related to Currencies and Corporate Actions in Emerging Markets. Risks related to currencies and corporate actions are also greater in emerging market countries than in developed countries. Emerging market currencies may not have an active trading market and are subject to a higher risk of currency devaluations.

Risks Related to Corporate and Securities Laws in Emerging Markets. Securities laws in emerging markets may be relatively new and unsettled and, consequently, there is a risk of rapid and unpredictable change in laws regarding foreign investment, securities regulation, title to securities and shareholder rights.

Liquidity and Trading Volume Risk. Because the Fund may invest a percentage of its assets in foreign securities, it may be subject to the liquidity and trading volume risks associated with international investing. Due to market conditions, including uncertainty regarding the price of a security, it may be difficult for the Fund to buy or sell foreign portfolio securities at a desirable time or price, which could result in investment losses and may affect the value of your investment in the Fund. This risk of portfolio illiquidity is heightened with respect to small- and mid-cap securities, generally, and foreign small- and mid-cap securities in particular. The Fund may have to lower the selling price, liquidate other investments, or forego another, more appealing investment opportunity as a result of illiquidity in the markets. The Fund may also be limited in its ability to execute favorable trades in foreign portfolio securities in response to changes in share prices and fundamentals, and may be forced to dispose of securities under disadvantageous circumstances and at a loss. As the Fund grows in size or, conversely, if it faces significant redemption pressure, these considerations take on increasing significance and may adversely impact performance.

Foreign Currency Risk. The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar, particularly if the Fund invests a significant percentage of its assets in foreign securities or other assets denominated in currencies other than the U.S. dollar.

Real Estate-Related Investment Risk. Investments in real estate investment trusts (REITs) and in securities of other companies (wherever organized) principally engaged in the real estate industry subject the Fund to, among other things, risks similar to those of direct investments in real estate and the real estate industry in general. These include risks related to general and local economic conditions, possible lack of availability of financing and changes in interest rates or property values. The value of interests in a REIT may be affected by, among other factors, changes in the value of the underlying properties owned by the REIT, changes in the prospect for earnings and/or cash flow growth of the REIT itself, defaults by borrowers or tenants, market saturation, decreases in market rates for rents, and other economic, political, or regulatory matters affecting the real estate industry, including REITs. REITs may be subject to more abrupt or erratic price movements than the overall securities markets. REITs are also subject to the risk of failing to qualify for favorable tax treatment under the Internal Revenue Code of 1986, as amended. The failure of a REIT to continue to qualify as a REIT for tax purposes can materially and adversely affect its value. Some REITs (especially mortgage REITs) are affected by risks similar to those associated with investments in debt securities including changes in interest rates and the quality of credit extended.
<b>Performance Information </b>
The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund’s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund’s returns for the periods shown with the Russell 2500 Growth Index.

The performance of one or more share classes shown in the Average Annual Total Returns table below includes the Fund’s Class Inst share returns (adjusted to reflect the higher class-related operating expenses of such classes, where applicable) for periods prior to the indicated inception date of such share classes. Except for differences in fees and expenses, all share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities.

The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. Your actual after-tax returns will depend on your personal tax situation and may differ from those shown in the table. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class Inst shares and will vary for other share classes. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares.

The Fund’s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future. Updated performance information can be obtained by calling toll-free 800.345.6611 or visiting columbiathreadneedleus.com.
<b>Year by Year Total Return (%)<br/>as of December 31 Each Year</b>
Bar Chart
[1] Year to Date return as of March 31, 2019: 13.22%
Best and Worst Quarterly Returns
During the Period Shown in the Bar Chart


Best                                                     2nd Quarter 2009                                                      28.11%

Worst                                                   3rd Quarter 2011                                                     -23.54%
<b>Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2018)</b>
Average Annual Total Returns - Columbia Acorn Select
Share Class Inception Date
1 Year
5 Years
10 Years
Class Inst Nov. 23, 1998 (12.45%) 4.82% 13.00%
Class Inst | returns after taxes on distributions Nov. 23, 1998 (16.28%) (0.11%) 9.51%
Class Inst | returns after taxes on distributions and sale of Fund shares Nov. 23, 1998 (4.33%) 3.31% 10.51%
Class A Oct. 16, 2000 (17.72%) 3.31% 12.02%
Class Adv Nov. 08, 2012 (12.50%) 4.78% 12.98%
Class C Oct. 16, 2000 (13.94%) 3.76% 11.83%
Class Inst2 Nov. 08, 2012 (12.46%) 4.86% 13.03%
Class Inst3 Nov. 08, 2012 (12.31%) 4.93% 13.08%
Russell 2500 Growth Index (reflects no deductions for fees, expenses or taxes)   (7.47%) 6.19% 14.76%

XML 27 R49.htm IDEA: XBRL DOCUMENT v3.19.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName COLUMBIA ACORN TRUST
Prospectus Date rr_ProspectusDate May 01, 2019
Columbia Acorn Select  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading SUMMARY OF THE FUND
Objective [Heading] rr_ObjectiveHeading <b>Investment Objective </b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock Columbia Acorn SelectSM (the Fund) seeks long-term capital appreciation.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund </b>
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. An investor transacting in a class of Fund shares without any front-end sales charge, contingent deferred sales charge, or other asset-based fee for sales or distribution may be required to pay a commission to the financial intermediary for effecting such transactions. Such commission rates are set by the financial intermediary and are not reflected in the tables or the example below. You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 24 of the Fund’s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <b>Shareholder Fees (fees paid directly from your investment) </b>
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) </b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination April 30, 2020
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover </b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund may pay transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 60% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 60.00%
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 24 of the Fund’s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 50,000
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent Other expenses have been restated to reflect current transfer agency fees paid by the Fund.
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees “Total annual Fund operating expenses” include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
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 the applicable class of Fund shares for the periods indicated,
  • your investment has a 5% return each year, and
  • the Fund’s total annual operating expenses remain the same as shown in the Annual Fund Operating Expenses table above.
Since the waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire as indicated in the preceding table, they are only reflected in the 1 year example and the first year of the other examples. Although your actual costs may be higher or lower, based on the assumptions listed above, your costs would be:
Strategy [Heading] rr_StrategyHeading <b>Principal Investment Strategies </b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock Under normal circumstances, the Fund (i) invests a majority of its net assets in the common stock of small- and mid-sized companies with market capitalizations under $20 billion at the time of initial investment (“Focus Stocks”) and (ii) may also invest in companies with market capitalizations above $20 billion, provided that immediately after that investment a majority of the Fund’s net assets would be invested in Focus Stocks. The Fund may continue to hold, and make additional investments in, Focus Stocks whose market capitalizations have grown to exceed $20 billion, regardless of whether the Fund’s investments in Focus Stocks are a majority of the Fund’s net assets.

Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Investment Manager), believes that stocks of small- and mid-sized companies, 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 invests the majority of its assets in U.S. companies, but also may invest up to 20% of its total assets in foreign companies in developed markets (for example, Japan, Canada and the United Kingdom). A portion of the Fund’s foreign exposure may also include companies in emerging markets (for example, China, India and Colombia).

The Fund also may invest up to 20% of its net assets in real estate investment trusts.

The Fund invests in a limited number of companies (generally between 20-40), offering the potential to provide above-average appreciation over time. In pursuit of the Fund's objective, the portfolio managers take advantage of the research and stock-picking capabilities of the Investment Manager. The Investment Manager seeks to select investments which offer the best combination of risk and return. The Investment Manager's efforts are generally focused on sectors, industries and companies which provide higher expected growth than the overall U.S. economy.

The Investment Manager typically seeks companies with:
  • A strong business franchise that offers growth potential.
  • Products and services in which the company has a competitive advantage.
  • A stock price the Investment Manager believes is reasonable relative to the assets and earning power of the company.
The Investment Manager may sell a portfolio holding if the security reaches the Investment Manager's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Investment Manager believes other securities are more attractive. The Investment Manager also may sell a portfolio holding to fund redemptions.
Risk [Heading] rr_RiskHeading <b>Principal Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock An investment in the Fund involves risks, including those described below. There is no assurance that the Fund will achieve its investment objective and you may lose money. The value of the Fund’s holdings may decline, and the Fund’s net asset value (NAV) and share price may go down. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

Select Portfolio Risk. Because the Fund may invest in a limited number of companies, the Fund as a whole is subject to greater risk of loss if any of its portfolio securities decline in price. The Fund accordingly may be more susceptible to economic, political and regulatory developments than a fund that invests in a greater number of companies. In addition, the Fund’s holdings and weightings will diverge significantly from its primary benchmark’s holdings and weightings and the Fund may therefore experience greater risk and volatility relative to the benchmark. Because the Fund may invest in more than one company concentrated in a similar industry, sector or geographic region, the Fund may be even more concentrated than the number of companies it may hold would suggest.

Active Management Risk. The Investment Manager’s active management of the Fund could cause the Fund to underperform its benchmark index and/or other funds with similar investment objectives and/or strategies.

Market Risk. The market values of securities or other investments that the Fund holds will fall, sometimes rapidly or unpredictably, or fail to rise. An investment in the Fund could lose money over short or long periods.

Small- and Mid-Cap Company Securities Risk. Investments in small- and mid-cap companies often involve greater risks than investments in larger, more established companies because small- and mid-cap companies tend to have less predictable earnings and may lack the management experience, financial resources, product diversification and competitive strengths of larger companies. Securities of small- and mid-cap companies may be less liquid and more volatile than the securities of larger companies.

Issuer Risk. An issuer in which the Fund invests may perform poorly, and the value of its securities may therefore decline, which may negatively affect the Fund’s performance. Underperformance may be caused by poor management decisions, competitive pressures, breakthroughs in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent disclosures, natural disasters or other events, conditions or factors.

Growth Securities Risk. Growth securities typically trade at a higher multiple of earnings than other types of equity securities. Accordingly, the market values of growth securities may never reach their expected market value and may decline in price. In addition, growth securities, at times, may not perform as well as value securities or the stock market in general, and may be out of favor with investors for varying periods of time.

Sector Risk. At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business within one or more economic sectors. Companies in the same sector may be similarly affected by economic, regulatory, political or market events or conditions, which may make the Fund more vulnerable to unfavorable developments in that sector than funds that invest more broadly. Generally, the more the Fund diversifies its investments, the more it spreads risk and potentially reduces the risks of loss and volatility.

Information Technology and Technology-Related Sectors. The Fund may be more susceptible to the particular risks that may affect companies in the information technology sector, as well as other technology-related sectors (collectively, the technology sectors) than if it were invested in a wider variety of companies in unrelated sectors. Companies in the technology sectors are subject to certain risks, including the risk that new services, equipment or technologies will not be accepted by consumers and businesses or will become rapidly obsolete. Performance of such companies may be affected by factors including obtaining and protecting patents (or the failure to do so) and significant competitive pressures, including aggressive pricing of their products or services, new market entrants, competition for market share and short product cycles due to an accelerated rate of technological developments.

Such competitive pressures may lead to limited earnings and/or falling profit margins. As a result, the value of their securities may fall or fail to rise. In addition, many technology sector companies have limited operating histories and prices of these companies’ securities historically have been more volatile than other securities, especially over the short term.

Health Care Sector. The Fund may be more susceptible to the particular risks that may affect companies in the health care sector than if it were invested in a wider variety of companies in unrelated sectors. Companies in the health care sector are subject to certain risks, including restrictions on government reimbursement for medical expenses, government approval of medical products and services, competitive pricing pressures, and the rising cost of medical products and services (especially for companies dependent upon a relatively limited number of products or services). Performance of such companies may be affected by factors including, government regulation, obtaining and protecting patents (or the failure to do so), product liability and other similar litigation as well as product obsolescence.

Consumer Discretionary Sector. The Fund may be more susceptible to the particular risks that may affect companies in the consumer discretionary sector than if it were invested in a wider variety of companies in unrelated sectors. Companies in the consumer discretionary sector are subject to certain risks, including fluctuations in the performance of the overall domestic and international economy, interest rate changes, increased competition and consumer confidence. Performance of such companies may be affected by factors including reduced disposable household income, reduced consumer spending, changing demographics and consumer tastes.

Foreign Securities Risk. Investments in or exposure to foreign securities involve certain risks not associated with investments in or exposure to securities of U.S. companies. Foreign securities subject the Fund to the risks associated with investing in the particular country of an issuer, including political, regulatory, economic, social, diplomatic and other conditions or events (including, for example, military confrontations, war and terrorism), occurring in the country or region, as well as risks associated with less developed custody and settlement practices. Foreign securities may be more volatile and less liquid than securities of U.S. companies, and are subject to the risks associated with potential imposition of economic and other sanctions against a particular foreign country, its nationals or industries or businesses within the country. In addition, foreign governments may impose withholding or other taxes on the Fund’s income, capital gains or proceeds from the disposition of foreign securities, which could reduce the Fund’s return on such securities.

Operational and Settlement Risks of Foreign Securities. The Fund’s foreign securities are generally held outside the United States in the primary market for the securities in the custody of foreign sub-custodians. Some countries have limited governmental oversight and regulation, which increases the risk of corruption and fraud and the possibility of losses to the Fund. In particular, under certain circumstances, foreign securities may settle on a delayed delivery basis, meaning that the Fund may be required to make payment for securities before the Fund has actually received delivery of the securities or deliver securities prior to the receipt of payment. As a result, there is a risk that the security will not be delivered to the Fund or that payment will not be received. Losses can also result from lost, stolen or counterfeit securities; defaults by brokers and banks; failures or defects of the settlement system; or poor and improper record keeping by registrars and issuers.

Share Blocking. In certain non-U.S. markets, an issuer’s securities are blocked from trading for a specified number of days before and, in certain instances, after a shareholder meeting. The blocking period can last up to several weeks. Share blocking may prevent the Fund from buying or selling securities during this period. As a consequence of these restrictions, the Investment Manager, on behalf of the Fund, may abstain from voting proxies in markets that require share blocking.

Emerging Market Securities Risk. Securities issued by foreign governments or companies in emerging market countries, such as China, Russia and certain countries 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 changes or developments in social, political, economic or other conditions. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity (i.e., lower trading volumes and less liquidity) 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 and have fewer trading partners, which makes them more sensitive to world commodity prices and economic downturns in other countries, and some have a higher risk of currency devaluations.

Operational and Settlement Risks of Securities in Emerging Markets. Foreign sub-custodians in emerging markets may be recently organized, lack extensive operating experience or lack effective government oversight or regulation. In addition, there may be legal restrictions or limitations on the ability of the Fund to recover assets held in custody by a foreign sub-custodian in the event of the bankruptcy of the sub-custodian. There may also be a greater risk that settlement may be delayed and that cash or securities of the Fund may be lost because of failures of or defects in the system, including fraud or corruption. Settlement systems in emerging markets also have a higher risk of failed trades.

Risks Related to Currencies and Corporate Actions in Emerging Markets. Risks related to currencies and corporate actions are also greater in emerging market countries than in developed countries. Emerging market currencies may not have an active trading market and are subject to a higher risk of currency devaluations.

Risks Related to Corporate and Securities Laws in Emerging Markets. Securities laws in emerging markets may be relatively new and unsettled and, consequently, there is a risk of rapid and unpredictable change in laws regarding foreign investment, securities regulation, title to securities and shareholder rights.

Liquidity and Trading Volume Risk. Because the Fund may invest a percentage of its assets in foreign securities, it may be subject to the liquidity and trading volume risks associated with international investing. Due to market conditions, including uncertainty regarding the price of a security, it may be difficult for the Fund to buy or sell foreign portfolio securities at a desirable time or price, which could result in investment losses and may affect the value of your investment in the Fund. This risk of portfolio illiquidity is heightened with respect to small- and mid-cap securities, generally, and foreign small- and mid-cap securities in particular. The Fund may have to lower the selling price, liquidate other investments, or forego another, more appealing investment opportunity as a result of illiquidity in the markets. The Fund may also be limited in its ability to execute favorable trades in foreign portfolio securities in response to changes in share prices and fundamentals, and may be forced to dispose of securities under disadvantageous circumstances and at a loss. As the Fund grows in size or, conversely, if it faces significant redemption pressure, these considerations take on increasing significance and may adversely impact performance.

Foreign Currency Risk. The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar, particularly if the Fund invests a significant percentage of its assets in foreign securities or other assets denominated in currencies other than the U.S. dollar.

Real Estate-Related Investment Risk. Investments in real estate investment trusts (REITs) and in securities of other companies (wherever organized) principally engaged in the real estate industry subject the Fund to, among other things, risks similar to those of direct investments in real estate and the real estate industry in general. These include risks related to general and local economic conditions, possible lack of availability of financing and changes in interest rates or property values. The value of interests in a REIT may be affected by, among other factors, changes in the value of the underlying properties owned by the REIT, changes in the prospect for earnings and/or cash flow growth of the REIT itself, defaults by borrowers or tenants, market saturation, decreases in market rates for rents, and other economic, political, or regulatory matters affecting the real estate industry, including REITs. REITs may be subject to more abrupt or erratic price movements than the overall securities markets. REITs are also subject to the risk of failing to qualify for favorable tax treatment under the Internal Revenue Code of 1986, as amended. The failure of a REIT to continue to qualify as a REIT for tax purposes can materially and adversely affect its value. Some REITs (especially mortgage REITs) are affected by risks similar to those associated with investments in debt securities including changes in interest rates and the quality of credit extended.
Risk Lose Money [Text] rr_RiskLoseMoney There is no assurance that the Fund will achieve its investment objective and you may lose money.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>Performance Information </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund’s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund’s returns for the periods shown with the Russell 2500 Growth Index.

The performance of one or more share classes shown in the Average Annual Total Returns table below includes the Fund’s Class Inst share returns (adjusted to reflect the higher class-related operating expenses of such classes, where applicable) for periods prior to the indicated inception date of such share classes. Except for differences in fees and expenses, all share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities.

The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. Your actual after-tax returns will depend on your personal tax situation and may differ from those shown in the table. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class Inst shares and will vary for other share classes. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares.

The Fund’s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future. Updated performance information can be obtained by calling toll-free 800.345.6611 or visiting columbiathreadneedleus.com.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund’s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund’s returns for the periods shown with the Russell 2500 Growth Index.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800.345.6611
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress columbiathreadneedleus.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture <b>The Fund’s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future.</b>
Bar Chart [Heading] rr_BarChartHeading <b>Year by Year Total Return (%)<br/>as of December 31 Each Year</b>
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock Best and Worst Quarterly Returns
During the Period Shown in the Bar Chart


Best                                                     2nd Quarter 2009                                                      28.11%

Worst                                                   3rd Quarter 2011                                                     -23.54%
Performance Table Heading rr_PerformanceTableHeading <b>Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2018)</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs).
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown The after-tax returns are shown only for Class Inst shares and will vary for other share classes.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares.
Columbia Acorn Select | Class A  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther 1.00% [1]
Management fees rr_ManagementFeesOverAssets 0.85%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other expenses rr_OtherExpensesOverAssets 0.28% [2]
Total annual Fund operating expenses rr_ExpensesOverAssets 1.38% [3]
Less: Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.21%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 1.17%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions.
1 year rr_ExpenseExampleYear01 $ 687
3 years rr_ExpenseExampleYear03 967
5 years rr_ExpenseExampleYear05 1,268
10 years rr_ExpenseExampleYear10 2,120
1 year rr_ExpenseExampleNoRedemptionYear01 687
3 years rr_ExpenseExampleNoRedemptionYear03 967
5 years rr_ExpenseExampleNoRedemptionYear05 1,268
10 years rr_ExpenseExampleNoRedemptionYear10 $ 2,120
1 Year rr_AverageAnnualReturnYear01 (17.72%)
5 Years rr_AverageAnnualReturnYear05 3.31%
10 Years rr_AverageAnnualReturnYear10 12.02%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Oct. 16, 2000
Columbia Acorn Select | Class Adv  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.85%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.28% [2]
Total annual Fund operating expenses rr_ExpensesOverAssets 1.13% [3]
Less: Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.21%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 0.92%
1 year rr_ExpenseExampleYear01 $ 94
3 years rr_ExpenseExampleYear03 338
5 years rr_ExpenseExampleYear05 602
10 years rr_ExpenseExampleYear10 1,356
1 year rr_ExpenseExampleNoRedemptionYear01 94
3 years rr_ExpenseExampleNoRedemptionYear03 338
5 years rr_ExpenseExampleNoRedemptionYear05 602
10 years rr_ExpenseExampleNoRedemptionYear10 $ 1,356
1 Year rr_AverageAnnualReturnYear01 (12.50%)
5 Years rr_AverageAnnualReturnYear05 4.78%
10 Years rr_AverageAnnualReturnYear10 12.98%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Nov. 08, 2012
Columbia Acorn Select | Class C  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther 1.00% [5]
Management fees rr_ManagementFeesOverAssets 0.85%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other expenses rr_OtherExpensesOverAssets 0.28% [2]
Total annual Fund operating expenses rr_ExpensesOverAssets 2.13% [3]
Less: Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.21%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 1.92%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock This charge applies to redemptions within 12 months after purchase, with certain limited exceptions.
1 year rr_ExpenseExampleYear01 $ 295
3 years rr_ExpenseExampleYear03 647
5 years rr_ExpenseExampleYear05 1,125
10 years rr_ExpenseExampleYear10 2,446
1 year rr_ExpenseExampleNoRedemptionYear01 195
3 years rr_ExpenseExampleNoRedemptionYear03 647
5 years rr_ExpenseExampleNoRedemptionYear05 1,125
10 years rr_ExpenseExampleNoRedemptionYear10 $ 2,446
1 Year rr_AverageAnnualReturnYear01 (13.94%)
5 Years rr_AverageAnnualReturnYear05 3.76%
10 Years rr_AverageAnnualReturnYear10 11.83%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Oct. 16, 2000
Columbia Acorn Select | Class Inst  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.85%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.28% [2]
Total annual Fund operating expenses rr_ExpensesOverAssets 1.13% [3]
Less: Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.21%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 0.92%
1 year rr_ExpenseExampleYear01 $ 94
3 years rr_ExpenseExampleYear03 338
5 years rr_ExpenseExampleYear05 602
10 years rr_ExpenseExampleYear10 1,356
1 year rr_ExpenseExampleNoRedemptionYear01 94
3 years rr_ExpenseExampleNoRedemptionYear03 338
5 years rr_ExpenseExampleNoRedemptionYear05 602
10 years rr_ExpenseExampleNoRedemptionYear10 $ 1,356
2009 rr_AnnualReturn2009 66.17% [6]
2010 rr_AnnualReturn2010 22.88% [6]
2011 rr_AnnualReturn2011 (16.37%) [6]
2012 rr_AnnualReturn2012 17.15% [6]
2013 rr_AnnualReturn2013 34.16% [6]
2014 rr_AnnualReturn2014 2.47% [6]
2015 rr_AnnualReturn2015 (0.44%) [6]
2016 rr_AnnualReturn2016 11.88% [6]
2017 rr_AnnualReturn2017 26.59% [6]
2018 rr_AnnualReturn2018 (12.45%) [6]
Year to Date Return, Label rr_YearToDateReturnLabel Year to Date return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2019
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 13.22%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 28.11%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (23.54%)
1 Year rr_AverageAnnualReturnYear01 (12.45%)
5 Years rr_AverageAnnualReturnYear05 4.82%
10 Years rr_AverageAnnualReturnYear10 13.00%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Nov. 23, 1998
Columbia Acorn Select | Class Inst2  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.85%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.20% [2]
Total annual Fund operating expenses rr_ExpensesOverAssets 1.05% [3]
Less: Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.21%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 0.84%
1 year rr_ExpenseExampleYear01 $ 86
3 years rr_ExpenseExampleYear03 313
5 years rr_ExpenseExampleYear05 559
10 years rr_ExpenseExampleYear10 1,264
1 year rr_ExpenseExampleNoRedemptionYear01 86
3 years rr_ExpenseExampleNoRedemptionYear03 313
5 years rr_ExpenseExampleNoRedemptionYear05 559
10 years rr_ExpenseExampleNoRedemptionYear10 $ 1,264
1 Year rr_AverageAnnualReturnYear01 (12.46%)
5 Years rr_AverageAnnualReturnYear05 4.86%
10 Years rr_AverageAnnualReturnYear10 13.03%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Nov. 08, 2012
Columbia Acorn Select | Class Inst3  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.85%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.15% [2]
Total annual Fund operating expenses rr_ExpensesOverAssets 1.00% [3]
Less: Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.21%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 0.79%
1 year rr_ExpenseExampleYear01 $ 81
3 years rr_ExpenseExampleYear03 298
5 years rr_ExpenseExampleYear05 532
10 years rr_ExpenseExampleYear10 1,206
1 year rr_ExpenseExampleNoRedemptionYear01 81
3 years rr_ExpenseExampleNoRedemptionYear03 298
5 years rr_ExpenseExampleNoRedemptionYear05 532
10 years rr_ExpenseExampleNoRedemptionYear10 $ 1,206
1 Year rr_AverageAnnualReturnYear01 (12.31%)
5 Years rr_AverageAnnualReturnYear05 4.93%
10 Years rr_AverageAnnualReturnYear10 13.08%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Nov. 08, 2012
Columbia Acorn Select | returns after taxes on distributions | Class Inst  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (16.28%)
5 Years rr_AverageAnnualReturnYear05 (0.11%)
10 Years rr_AverageAnnualReturnYear10 9.51%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Nov. 23, 1998
Columbia Acorn Select | returns after taxes on distributions and sale of Fund shares | Class Inst  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (4.33%)
5 Years rr_AverageAnnualReturnYear05 3.31%
10 Years rr_AverageAnnualReturnYear10 10.51%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Nov. 23, 1998
Columbia Acorn Select | Russell 2500 Growth Index (reflects no deductions for fees, expenses or taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (7.47%)
5 Years rr_AverageAnnualReturnYear05 6.19%
10 Years rr_AverageAnnualReturnYear10 14.76%
[1] This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions.
[2] Other expenses have been restated to reflect current transfer agency fees paid by the Fund.
[3] “Total annual Fund operating expenses” include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses.
[4] Columbia Wanger Asset Management, LLC (the Investment Manager) has contractually agreed to waive 0.21% of the advisory fee otherwise payable to it by the Fund through April 30, 2020. This arrangement may only be amended or terminated with approval from the Fund's Board of Trustees and the Investment Manager.
[5] This charge applies to redemptions within 12 months after purchase, with certain limited exceptions.
[6] Year to Date return as of March 31, 2019: 13.22%
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Columbia Acorn USA
SUMMARY OF THE FUND
<b>Investment Objective </b>
Columbia Acorn USA® (the Fund) seeks long-term capital appreciation.
<b>Fees and Expenses of the Fund </b>
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. An investor transacting in a class of Fund shares without any front-end sales charge, contingent deferred sales charge, or other asset-based fee for sales or distribution may be required to pay a commission to the financial intermediary for effecting such transactions. Such commission rates are set by the financial intermediary and are not reflected in the tables or the example below. You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 19 of the Fund’s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1.
<b>Shareholder Fees (fees paid directly from your investment) </b>
Shareholder Fees - Columbia Acorn USA
Class A
Class C
Class Adv
Class Inst
Class Inst2
Class Inst3
Maximum sales charge (load) imposed on purchases (as a % of offering price) 5.75% none none none none none
Maximum deferred sales charge (load) imposed on redemptions (as a % of the lower of the original purchase price or current net asset value) 1.00% [1] 1.00% [2] none none none none
[1] This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions.
[2] This charge applies to redemptions within 12 months after purchase, with certain limited exceptions.
<b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) </b>
Annual Fund Operating Expenses - Columbia Acorn USA
Class A
Class Adv
Class C
Class Inst
Class Inst2
Class Inst3
Management fees 0.92% 0.92% 0.92% 0.92% 0.92% 0.92%
Distribution and/or service (12b-1) fees 0.25% none 1.00% none none none
Other expenses [1] 0.27% 0.27% 0.27% 0.27% 0.20% 0.15%
Total annual Fund operating expenses [2] 1.44% 1.19% 2.19% 1.19% 1.12% 1.07%
Less: Fee waivers and/or expense reimbursements [3] (0.02%) (0.02%) (0.02%) (0.02%) (0.04%) (0.03%)
Total annual Fund operating expenses after fee waivers and/or expense reimbursements 1.42% 1.17% 2.17% 1.17% 1.08% 1.04%
[1] Other expenses have been restated to reflect current transfer agency fees paid by the Fund.
[2] “Total annual Fund operating expenses” include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses.
[3] Columbia Wanger Asset Management, LLC (the Investment Manager) has contractually agreed to waive fees and reimburse certain expenses of the Fund, through April 30, 2020, so that ordinary operating expenses (excluding transaction costs and certain other investment-related expenses, 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 1.42% for Class A shares, 1.17% for Class Adv shares, 2.17% for Class C shares, 1.17% for Class Inst shares, 1.08% for Class Inst2 shares and 1.04% for Class Inst3 shares. This arrangement may only be amended or terminated with approval from the Fund’s Board of Trustees and the Investment Manager. The fee waivers and/or expense reimbursements shown in the table also reflect the contractual agreement of the Fund’s transfer agent, Columbia Management Investment Services Corp. (the Transfer Agent), to waive a portion of its fees through April 30, 2020, such that the Fund’s transfer agency fees do not exceed the annual rates of 0.04% of the average daily net assets of Class Inst2 shares and 0.00% of the average daily net assets of Class Inst3 shares.
<b>Example </b>
The following example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example illustrates the hypothetical expenses that you would incur over the time periods indicated, and assumes that:
  • you invest $10,000 in the applicable class of Fund shares for the periods indicated,
  • your investment has a 5% return each year, and
  • the Fund’s total annual operating expenses remain the same as shown in the Annual Fund Operating Expenses table above.
Since the waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire as indicated in the preceding table, they are only reflected in the 1 year example and the first year of the other examples. Although your actual costs may be higher or lower, based on the assumptions listed above, your costs would be:
Expense Example - Columbia Acorn USA - USD ($)
1 year
3 years
5 years
10 years
Class A 711 1,002 1,315 2,198
Class Adv 119 376 652 1,441
Class C 320 683 1,173 2,522
Class Inst 119 376 652 1,441
Class Inst2 110 352 613 1,360
Class Inst3 106 337 587 1,303
Expense Example, No Redemption - Columbia Acorn USA - USD ($)
1 year
3 years
5 years
10 years
Class A 711 1,002 1,315 2,198
Class Adv 119 376 652 1,441
Class C 220 683 1,173 2,522
Class Inst 119 376 652 1,441
Class Inst2 110 352 613 1,360
Class Inst3 106 337 587 1,303
<b>Portfolio Turnover </b>
The Fund may pay transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 86% of the average value of its portfolio.
<b>Principal Investment Strategies </b>
Under normal circumstances, the Fund invests at least 80% of its net assets (including the amount of any borrowings for investment purposes) in U.S. companies.

Under normal circumstances, the Fund (i) 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 initial investment (“Focus Stocks”) and (ii) may also invest in companies with market capitalizations above $5 billion, provided that immediately after that investment a majority of the Fund’s net assets would be invested in Focus Stocks. The Fund may continue to hold, and make additional investments in, Focus Stocks whose market capitalizations have grown to exceed $5 billion, regardless of whether the Fund’s investments in Focus Stocks are a majority of the Fund’s net assets.

Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Investment Manager), believes that stocks of small- and mid-sized companies, which generally are not as well known by financial analysts as larger companies, may offer higher return potential than stocks of larger companies.

The Investment Manager typically seeks companies with:
  • A strong business franchise that offers growth potential.
  • Products and services in which the company has a competitive advantage.
  • A stock price the Investment Manager believes is reasonable relative to the assets and earning power of the company.
The Investment Manager may sell a portfolio holding if the security reaches the Investment Manager's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Investment Manager believes other securities are more attractive. The Investment Manager also may sell a portfolio holding to fund redemptions.
<b>Principal Risks </b>
An investment in the Fund involves risks, including those described below. There is no assurance that the Fund will achieve its investment objective and you may lose money. The value of the Fund’s holdings may decline, and the Fund’s net asset value (NAV) and share price may go down. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

Active Management Risk. The Investment Manager’s active management of the Fund could cause the Fund to underperform its benchmark index and/or other funds with similar investment objectives and/or strategies.

Market Risk. The market values of securities or other investments that the Fund holds will fall, sometimes rapidly or unpredictably, or fail to rise. An investment in the Fund could lose money over short or long periods.

Small- and Mid-Cap Company Securities Risk. Investments in small- and mid-cap companies often involve greater risks than investments in larger, more established companies because small- and mid-cap companies tend to have less predictable earnings and may lack the management experience, financial resources, product diversification and competitive strengths of larger companies. Securities of small- and mid-cap companies may be less liquid and more volatile than the securities of larger companies.

Issuer Risk. An issuer in which the Fund invests may perform poorly, and the value of its securities may therefore decline, which may negatively affect the Fund’s performance. Underperformance may be caused by poor management decisions, competitive pressures, breakthroughs in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent disclosures, natural disasters or other events, conditions or factors.

Growth Securities Risk. Growth securities typically trade at a higher multiple of earnings than other types of equity securities. Accordingly, the market values of growth securities may never reach their expected market value and may decline in price. In addition, growth securities, at times, may not perform as well as value securities or the stock market in general, and may be out of favor with investors for varying periods of time.

Sector Risk. At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business within one or more economic sectors. Companies in the same sector may be similarly affected by economic, regulatory, political or market events or conditions, which may make the Fund more vulnerable to unfavorable developments in that sector than funds that invest more broadly. Generally, the more the Fund diversifies its investments, the more it spreads risk and potentially reduces the risks of loss and volatility.

Information Technology and Technology-Related Sectors. The Fund may be more susceptible to the particular risks that may affect companies in the information technology sector, as well as other technology-related sectors (collectively, the technology sectors) than if it were invested in a wider variety of companies in unrelated sectors. Companies in the technology sectors are subject to certain risks, including the risk that new services, equipment or technologies will not be accepted by consumers and businesses or will become rapidly obsolete. Performance of such companies may be affected by factors including obtaining and protecting patents (or the failure to do so) and significant competitive pressures, including aggressive pricing of their products or services, new market entrants, competition for market share and short product cycles due to an accelerated rate of technological developments. Such competitive pressures may lead to limited earnings and/or falling profit margins. As a result, the value of their securities may fall or fail to rise. In addition, many technology sector companies have limited operating histories and prices of these companies’ securities historically have been more volatile than other securities, especially over the short term.

Health Care Sector. The Fund may be more susceptible to the particular risks that may affect companies in the health care sector than if it were invested in a wider variety of companies in unrelated sectors. Companies in the health care sector are subject to certain risks, including restrictions on government reimbursement for medical expenses, government approval of medical products and services, competitive pricing pressures, and the rising cost of medical products and services (especially for companies dependent upon a relatively limited number of products or services). Performance of such companies may be affected by factors including, government regulation, obtaining and protecting patents (or the failure to do so), product liability and other similar litigation as well as product obsolescence.
<b>Performance Information </b>
The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund’s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund’s returns for the periods shown with the Russell 2000 Growth Index.

The performance of one or more share classes shown in the Average Annual Total Returns table below includes the Fund’s Class Inst share returns (adjusted to reflect the higher class-related operating expenses of such classes, where applicable) for periods prior to the indicated inception date of such share classes. Except for differences in fees and expenses, all share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities.

The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. Your actual after-tax returns will depend on your personal tax situation and may differ from those shown in the table. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class Inst shares and will vary for other share classes. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares.

The Fund’s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future. Updated performance information can be obtained by calling toll-free 800.345.6611 or visiting columbiathreadneedleus.com.
<b>Year by Year Total Return (%) <br/>as of December 31 Each Year</b>
Bar Chart
[1] Year to Date return as of March 31, 2019: 16.90%
Best and Worst Quarterly Returns
During the Period Shown in the Bar Chart


Best                                                     3rd Quarter 2009                                                      23.55%

Worst                                                   3rd Quarter 2011                                                     -22.20%
<b>Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2018) </b>
Average Annual Total Returns - Columbia Acorn USA
Share Class Inception Date
1 Year
5 Years
10 Years
Class Inst Sep. 04, 1996 (1.98%) 6.22% 13.46%
Class Inst | returns after taxes on distributions Sep. 04, 1996 (5.23%) 0.07% 9.77%
Class Inst | returns after taxes on distributions and sale of Fund shares Sep. 04, 1996 1.41% 4.16% 10.88%
Class A Oct. 16, 2000 (7.77%) 4.72% 12.50%
Class Adv Nov. 08, 2012 (1.91%) 6.22% 13.47%
Class C Oct. 16, 2000 (3.61%) 5.22% 12.35%
Class Inst2 Nov. 08, 2012 (1.89%) 6.32% 13.52%
Class Inst3 Nov. 08, 2012 (1.86%) 6.37% 13.56%
Russell 2000 Growth Index (reflects no deductions for fees, expenses or taxes)   (9.31%) 5.13% 13.52%
XML 30 R57.htm IDEA: XBRL DOCUMENT v3.19.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName COLUMBIA ACORN TRUST
Prospectus Date rr_ProspectusDate May 01, 2019
Columbia Acorn USA  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading SUMMARY OF THE FUND
Objective [Heading] rr_ObjectiveHeading <b>Investment Objective </b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock Columbia Acorn USA® (the Fund) seeks long-term capital appreciation.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund </b>
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. An investor transacting in a class of Fund shares without any front-end sales charge, contingent deferred sales charge, or other asset-based fee for sales or distribution may be required to pay a commission to the financial intermediary for effecting such transactions. Such commission rates are set by the financial intermediary and are not reflected in the tables or the example below. You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 19 of the Fund’s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <b>Shareholder Fees (fees paid directly from your investment) </b>
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) </b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination April 30, 2020
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover </b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund may pay transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 86% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 86.00%
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 19 of the Fund’s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 50,000
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent Other expenses have been restated to reflect current transfer agency fees paid by the Fund.
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees "Total annual Fund operating expenses" include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
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 the applicable class of Fund shares for the periods indicated,
  • your investment has a 5% return each year, and
  • the Fund’s total annual operating expenses remain the same as shown in the Annual Fund Operating Expenses table above.
Since the waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire as indicated in the preceding table, they are only reflected in the 1 year example and the first year of the other examples. Although your actual costs may be higher or lower, based on the assumptions listed above, your costs would be:
Strategy [Heading] rr_StrategyHeading <b>Principal Investment Strategies </b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock Under normal circumstances, the Fund invests at least 80% of its net assets (including the amount of any borrowings for investment purposes) in U.S. companies.

Under normal circumstances, the Fund (i) 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 initial investment (“Focus Stocks”) and (ii) may also invest in companies with market capitalizations above $5 billion, provided that immediately after that investment a majority of the Fund’s net assets would be invested in Focus Stocks. The Fund may continue to hold, and make additional investments in, Focus Stocks whose market capitalizations have grown to exceed $5 billion, regardless of whether the Fund’s investments in Focus Stocks are a majority of the Fund’s net assets.

Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Investment Manager), believes that stocks of small- and mid-sized companies, which generally are not as well known by financial analysts as larger companies, may offer higher return potential than stocks of larger companies.

The Investment Manager typically seeks companies with:
  • A strong business franchise that offers growth potential.
  • Products and services in which the company has a competitive advantage.
  • A stock price the Investment Manager believes is reasonable relative to the assets and earning power of the company.
The Investment Manager may sell a portfolio holding if the security reaches the Investment Manager's price target, if the company has a deterioration of fundamentals, such as failing to meet key operating benchmarks, or if the Investment Manager believes other securities are more attractive. The Investment Manager also may sell a portfolio holding to fund redemptions.
Risk [Heading] rr_RiskHeading <b>Principal Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock An investment in the Fund involves risks, including those described below. There is no assurance that the Fund will achieve its investment objective and you may lose money. The value of the Fund’s holdings may decline, and the Fund’s net asset value (NAV) and share price may go down. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

Active Management Risk. The Investment Manager’s active management of the Fund could cause the Fund to underperform its benchmark index and/or other funds with similar investment objectives and/or strategies.

Market Risk. The market values of securities or other investments that the Fund holds will fall, sometimes rapidly or unpredictably, or fail to rise. An investment in the Fund could lose money over short or long periods.

Small- and Mid-Cap Company Securities Risk. Investments in small- and mid-cap companies often involve greater risks than investments in larger, more established companies because small- and mid-cap companies tend to have less predictable earnings and may lack the management experience, financial resources, product diversification and competitive strengths of larger companies. Securities of small- and mid-cap companies may be less liquid and more volatile than the securities of larger companies.

Issuer Risk. An issuer in which the Fund invests may perform poorly, and the value of its securities may therefore decline, which may negatively affect the Fund’s performance. Underperformance may be caused by poor management decisions, competitive pressures, breakthroughs in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent disclosures, natural disasters or other events, conditions or factors.

Growth Securities Risk. Growth securities typically trade at a higher multiple of earnings than other types of equity securities. Accordingly, the market values of growth securities may never reach their expected market value and may decline in price. In addition, growth securities, at times, may not perform as well as value securities or the stock market in general, and may be out of favor with investors for varying periods of time.

Sector Risk. At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business within one or more economic sectors. Companies in the same sector may be similarly affected by economic, regulatory, political or market events or conditions, which may make the Fund more vulnerable to unfavorable developments in that sector than funds that invest more broadly. Generally, the more the Fund diversifies its investments, the more it spreads risk and potentially reduces the risks of loss and volatility.

Information Technology and Technology-Related Sectors. The Fund may be more susceptible to the particular risks that may affect companies in the information technology sector, as well as other technology-related sectors (collectively, the technology sectors) than if it were invested in a wider variety of companies in unrelated sectors. Companies in the technology sectors are subject to certain risks, including the risk that new services, equipment or technologies will not be accepted by consumers and businesses or will become rapidly obsolete. Performance of such companies may be affected by factors including obtaining and protecting patents (or the failure to do so) and significant competitive pressures, including aggressive pricing of their products or services, new market entrants, competition for market share and short product cycles due to an accelerated rate of technological developments. Such competitive pressures may lead to limited earnings and/or falling profit margins. As a result, the value of their securities may fall or fail to rise. In addition, many technology sector companies have limited operating histories and prices of these companies’ securities historically have been more volatile than other securities, especially over the short term.

Health Care Sector. The Fund may be more susceptible to the particular risks that may affect companies in the health care sector than if it were invested in a wider variety of companies in unrelated sectors. Companies in the health care sector are subject to certain risks, including restrictions on government reimbursement for medical expenses, government approval of medical products and services, competitive pricing pressures, and the rising cost of medical products and services (especially for companies dependent upon a relatively limited number of products or services). Performance of such companies may be affected by factors including, government regulation, obtaining and protecting patents (or the failure to do so), product liability and other similar litigation as well as product obsolescence.
Risk Lose Money [Text] rr_RiskLoseMoney There is no assurance that the Fund will achieve its investment objective and you may lose money.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>Performance Information </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund’s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund’s returns for the periods shown with the Russell 2000 Growth Index.

The performance of one or more share classes shown in the Average Annual Total Returns table below includes the Fund’s Class Inst share returns (adjusted to reflect the higher class-related operating expenses of such classes, where applicable) for periods prior to the indicated inception date of such share classes. Except for differences in fees and expenses, all share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities.

The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. Your actual after-tax returns will depend on your personal tax situation and may differ from those shown in the table. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class Inst shares and will vary for other share classes. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares.

The Fund’s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future. Updated performance information can be obtained by calling toll-free 800.345.6611 or visiting columbiathreadneedleus.com.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund’s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund’s returns for the periods shown with the Russell 2000 Growth Index.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800.345.6611
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress columbiathreadneedleus.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture <b>The Fund’s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future.</b>
Bar Chart [Heading] rr_BarChartHeading <b>Year by Year Total Return (%) <br/>as of December 31 Each Year</b>
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock Best and Worst Quarterly Returns
During the Period Shown in the Bar Chart


Best                                                     3rd Quarter 2009                                                      23.55%

Worst                                                   3rd Quarter 2011                                                     -22.20%
Performance Table Heading rr_PerformanceTableHeading <b>Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2018) </b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs).
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown The after-tax returns are shown only for Class Inst shares and will vary for other share classes.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares.
Columbia Acorn USA | Class A  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther 1.00% [1]
Management fees rr_ManagementFeesOverAssets 0.92%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other expenses rr_OtherExpensesOverAssets 0.27% [2]
Total annual Fund operating expenses rr_ExpensesOverAssets 1.44% [3]
Less: Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.02%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 1.42%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions.
1 year rr_ExpenseExampleYear01 $ 711
3 years rr_ExpenseExampleYear03 1,002
5 years rr_ExpenseExampleYear05 1,315
10 years rr_ExpenseExampleYear10 2,198
1 year rr_ExpenseExampleNoRedemptionYear01 711
3 years rr_ExpenseExampleNoRedemptionYear03 1,002
5 years rr_ExpenseExampleNoRedemptionYear05 1,315
10 years rr_ExpenseExampleNoRedemptionYear10 $ 2,198
1 Year rr_AverageAnnualReturnYear01 (7.77%)
5 Years rr_AverageAnnualReturnYear05 4.72%
10 Years rr_AverageAnnualReturnYear10 12.50%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Oct. 16, 2000
Columbia Acorn USA | Class Adv  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.92%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.27% [2]
Total annual Fund operating expenses rr_ExpensesOverAssets 1.19% [3]
Less: Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.02%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 1.17%
1 year rr_ExpenseExampleYear01 $ 119
3 years rr_ExpenseExampleYear03 376
5 years rr_ExpenseExampleYear05 652
10 years rr_ExpenseExampleYear10 1,441
1 year rr_ExpenseExampleNoRedemptionYear01 119
3 years rr_ExpenseExampleNoRedemptionYear03 376
5 years rr_ExpenseExampleNoRedemptionYear05 652
10 years rr_ExpenseExampleNoRedemptionYear10 $ 1,441
1 Year rr_AverageAnnualReturnYear01 (1.91%)
5 Years rr_AverageAnnualReturnYear05 6.22%
10 Years rr_AverageAnnualReturnYear10 13.47%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Nov. 08, 2012
Columbia Acorn USA | Class C  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther 1.00% [5]
Management fees rr_ManagementFeesOverAssets 0.92%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other expenses rr_OtherExpensesOverAssets 0.27% [2]
Total annual Fund operating expenses rr_ExpensesOverAssets 2.19% [3]
Less: Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.02%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 2.17%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock This charge applies to redemptions within 12 months after purchase, with certain limited exceptions.
1 year rr_ExpenseExampleYear01 $ 320
3 years rr_ExpenseExampleYear03 683
5 years rr_ExpenseExampleYear05 1,173
10 years rr_ExpenseExampleYear10 2,522
1 year rr_ExpenseExampleNoRedemptionYear01 220
3 years rr_ExpenseExampleNoRedemptionYear03 683
5 years rr_ExpenseExampleNoRedemptionYear05 1,173
10 years rr_ExpenseExampleNoRedemptionYear10 $ 2,522
1 Year rr_AverageAnnualReturnYear01 (3.61%)
5 Years rr_AverageAnnualReturnYear05 5.22%
10 Years rr_AverageAnnualReturnYear10 12.35%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Oct. 16, 2000
Columbia Acorn USA | Class Inst  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.92%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.27% [2]
Total annual Fund operating expenses rr_ExpensesOverAssets 1.19% [3]
Less: Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.02%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 1.17%
1 year rr_ExpenseExampleYear01 $ 119
3 years rr_ExpenseExampleYear03 376
5 years rr_ExpenseExampleYear05 652
10 years rr_ExpenseExampleYear10 1,441
1 year rr_ExpenseExampleNoRedemptionYear01 119
3 years rr_ExpenseExampleNoRedemptionYear03 376
5 years rr_ExpenseExampleNoRedemptionYear05 652
10 years rr_ExpenseExampleNoRedemptionYear10 $ 1,441
2009 rr_AnnualReturn2009 41.49% [6]
2010 rr_AnnualReturn2010 23.16% [6]
2011 rr_AnnualReturn2011 (4.95%) [6]
2012 rr_AnnualReturn2012 18.98% [6]
2013 rr_AnnualReturn2013 32.72% [6]
2014 rr_AnnualReturn2014 3.61% [6]
2015 rr_AnnualReturn2015 (1.36%) [6]
2016 rr_AnnualReturn2016 13.00% [6]
2017 rr_AnnualReturn2017 19.44% [6]
2018 rr_AnnualReturn2018 (1.98%) [6]
Year to Date Return, Label rr_YearToDateReturnLabel Year to Date return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2019
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 16.90%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Sep. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 23.55%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (22.20%)
1 Year rr_AverageAnnualReturnYear01 (1.98%)
5 Years rr_AverageAnnualReturnYear05 6.22%
10 Years rr_AverageAnnualReturnYear10 13.46%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Sep. 04, 1996
Columbia Acorn USA | Class Inst2  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.92%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.20% [2]
Total annual Fund operating expenses rr_ExpensesOverAssets 1.12% [3]
Less: Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.04%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 1.08%
1 year rr_ExpenseExampleYear01 $ 110
3 years rr_ExpenseExampleYear03 352
5 years rr_ExpenseExampleYear05 613
10 years rr_ExpenseExampleYear10 1,360
1 year rr_ExpenseExampleNoRedemptionYear01 110
3 years rr_ExpenseExampleNoRedemptionYear03 352
5 years rr_ExpenseExampleNoRedemptionYear05 613
10 years rr_ExpenseExampleNoRedemptionYear10 $ 1,360
1 Year rr_AverageAnnualReturnYear01 (1.89%)
5 Years rr_AverageAnnualReturnYear05 6.32%
10 Years rr_AverageAnnualReturnYear10 13.52%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Nov. 08, 2012
Columbia Acorn USA | Class Inst3  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.92%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.15% [2]
Total annual Fund operating expenses rr_ExpensesOverAssets 1.07% [3]
Less: Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.03%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 1.04%
1 year rr_ExpenseExampleYear01 $ 106
3 years rr_ExpenseExampleYear03 337
5 years rr_ExpenseExampleYear05 587
10 years rr_ExpenseExampleYear10 1,303
1 year rr_ExpenseExampleNoRedemptionYear01 106
3 years rr_ExpenseExampleNoRedemptionYear03 337
5 years rr_ExpenseExampleNoRedemptionYear05 587
10 years rr_ExpenseExampleNoRedemptionYear10 $ 1,303
1 Year rr_AverageAnnualReturnYear01 (1.86%)
5 Years rr_AverageAnnualReturnYear05 6.37%
10 Years rr_AverageAnnualReturnYear10 13.56%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Nov. 08, 2012
Columbia Acorn USA | returns after taxes on distributions | Class Inst  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (5.23%)
5 Years rr_AverageAnnualReturnYear05 0.07%
10 Years rr_AverageAnnualReturnYear10 9.77%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Sep. 04, 1996
Columbia Acorn USA | returns after taxes on distributions and sale of Fund shares | Class Inst  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.41%
5 Years rr_AverageAnnualReturnYear05 4.16%
10 Years rr_AverageAnnualReturnYear10 10.88%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Sep. 04, 1996
Columbia Acorn USA | Russell 2000 Growth Index (reflects no deductions for fees, expenses or taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (9.31%)
5 Years rr_AverageAnnualReturnYear05 5.13%
10 Years rr_AverageAnnualReturnYear10 13.52%
[1] This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions.
[2] Other expenses have been restated to reflect current transfer agency fees paid by the Fund.
[3] “Total annual Fund operating expenses” include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses.
[4] Columbia Wanger Asset Management, LLC (the Investment Manager) has contractually agreed to waive fees and reimburse certain expenses of the Fund, through April 30, 2020, so that ordinary operating expenses (excluding transaction costs and certain other investment-related expenses, 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 1.42% for Class A shares, 1.17% for Class Adv shares, 2.17% for Class C shares, 1.17% for Class Inst shares, 1.08% for Class Inst2 shares and 1.04% for Class Inst3 shares. This arrangement may only be amended or terminated with approval from the Fund’s Board of Trustees and the Investment Manager. The fee waivers and/or expense reimbursements shown in the table also reflect the contractual agreement of the Fund’s transfer agent, Columbia Management Investment Services Corp. (the Transfer Agent), to waive a portion of its fees through April 30, 2020, such that the Fund’s transfer agency fees do not exceed the annual rates of 0.04% of the average daily net assets of Class Inst2 shares and 0.00% of the average daily net assets of Class Inst3 shares.
[5] This charge applies to redemptions within 12 months after purchase, with certain limited exceptions.
[6] Year to Date return as of March 31, 2019: 16.90%
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Columbia Thermostat Fund
SUMMARY OF THE FUND
<b>Investment Objective </b>
Columbia Thermostat FundSM (the Fund) seeks long-term capital appreciation.
<b>Fees and Expenses of the Fund </b>
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. An investor transacting in a class of Fund shares without any front-end sales charge, contingent deferred sales charge, or other asset-based fee for sales or distribution may be required to pay a commission to the financial intermediary for effecting such transactions. Such commission rates are set by the financial intermediary and are not reflected in the tables or the example below. You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 55 of the Fund’s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1.
<b>Shareholder Fees (fees paid directly from your investment) </b>
Shareholder Fees - Columbia Thermostat Fund
Class A
Class C
Class Adv
Class Inst
Class Inst2
Class Inst3
Maximum sales charge (load) imposed on purchases (as a % of offering price) 5.75% none none none none none
Maximum deferred sales charge (load) imposed on redemptions (as a % of the lower of the original purchase price or current net asset value) 1.00% [1] 1.00% [2] none none none none
[1] This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions.
[2] This charge applies to redemptions within 12 months after purchase, with certain limited exceptions.
<b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) </b>
Annual Fund Operating Expenses - Columbia Thermostat Fund
Class A
Class Adv
Class C
Class Inst
Class Inst2
Class Inst3
Management fees 0.10% 0.10% 0.10% 0.10% 0.10% 0.10%
Distribution and/or service (12b-1) fees 0.25% none 1.00% none none none
Other expenses [1] 0.21% 0.21% 0.21% 0.21% 0.17% 0.13%
Acquired fund fees and expenses 0.40% 0.40% 0.40% 0.40% 0.40% 0.40%
Total annual Fund operating expenses [2] 0.96% 0.71% 1.71% 0.71% 0.67% 0.63%
Fee waivers and/or expense reimbursements [3] (0.06%) (0.06%) (0.06%) (0.06%) (0.06%) (0.06%)
Total annual Fund operating expenses after fee waivers and/or expense reimbursements 0.90% 0.65% 1.65% 0.65% 0.61% 0.57%
[1] Other expenses have been restated to reflect current transfer agency fees paid by the Fund.
[2] “Total annual Fund operating expenses” include acquired fund (Portfolio Fund) fees and expenses (expenses the Fund incurs indirectly through its investments in other funds) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include Portfolio Fund (acquired fund) fees and expenses.
[3] Columbia Wanger Asset Management, LLC (the Investment Manager) has contractually agreed to waive fees and reimburse certain expenses of the Fund, through April 30, 2020, so that ordinary operating expenses (excluding transaction costs and certain other investment-related expenses, interest and fees on borrowings and expenses associated with the Fund’s investment in other investment companies, including the Portfolio Funds) do not exceed the annual rates of 0.50% for Class A shares, 0.25% for Class Adv shares, 1.25% for Class C shares, 0.25% for Class Inst shares, 0.21% for Class Inst2 shares and 0.17% for Class Inst3 shares. This arrangement may only be amended or terminated with approval from the Fund's Board of Trustees and the Investment Manager.
<b>Example </b>
The following example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example illustrates the hypothetical expenses that you would incur over the time periods indicated, and assumes that:
  • you invest $10,000 in the applicable class of Fund shares for the periods indicated,
  • your investment has a 5% return each year, and
  • the Fund’s total annual operating expenses remain the same as shown in the Annual Fund Operating Expenses table above.
Since the waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire as indicated in the preceding table, they are only reflected in the 1 year example and the first year of the other examples. Although your actual costs may be higher or lower, based on the assumptions listed above, your costs would be:
Expense Example - Columbia Thermostat Fund - USD ($)
1 year
3 years
5 years
10 years
Class A 662 858 1,070 1,680
Class Adv 66 221 389 877
Class C 268 533 923 2,014
Class Inst 66 221 389 877
Class Inst2 62 208 367 829
Class Inst3 58 196 345 781
Expense Example, No Redemption - Columbia Thermostat Fund - USD ($)
1 year
3 years
5 years
10 years
Class A 662 858 1,070 1,680
Class Adv 66 221 389 877
Class C 168 533 923 2,014
Class Inst 66 221 389 877
Class Inst2 62 208 367 829
Class Inst3 58 196 345 781
<b>Portfolio Turnover </b>
The Fund will indirectly bear the expenses associated with portfolio turnover of the underlying Portfolio Funds in which the Fund invests. Each Portfolio Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A Portfolio Fund’s higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when its shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 122% of the average value of its portfolio.
<b>Principal Investment Strategies </b>
The Fund is primarily managed as a fund that invests in other funds (i.e., a "fund-of-funds") that seeks to achieve its investment objective by investing its assets among a selected group of underlying stock and bond mutual funds and exchanged-traded funds (ETFs) for which Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Investment Manager) or its affiliates, including Columbia Management Investment Advisers, LLC (Columbia Management), serves as investment adviser or principal underwriter (the Portfolio Funds). Under normal circumstances, the Fund allocates at least 95% of its net assets (stock/bond assets) among the Portfolio Funds according to an asset allocation table based on the current level of Standard & Poor's (S&P) 500® Index.

Generally, the Fund's allocation to stock funds increases as the S&P 500® Index declines and decreases as the S&P 500® Index rises. When the S&P 500® Index goes up in relation to trading range bands that are predetermined by the Investment Manager, the Fund sells a portion of its stock Portfolio Funds and invests more in the bond Portfolio Funds, and when the S&P 500® Index goes down in relation to the predetermined bands, the Fund increases its investment in the stock Portfolio Funds. Under normal circumstances, the Fund may invest up to 5% of net assets plus any cash received that day in cash, high quality short-term paper and government securities.

Although many asset allocation funds follow a basic approach of moving assets from stocks to bonds when the equity market goes up, and from bonds to stocks when the equity market goes down, some are run by investment managers who allocate fund assets by making subjective decisions based on complicated economic and financial models and complex graphs of market behavior. By contrast, the day-to-day investment decisions for the Fund are made according to a single predetermined allocation table set forth below. The temperature in your house is run by a single rule: your thermostat turns on the furnace if your house is too cold or turns on the air conditioner if your house is too warm. This Fund works the same way, so it is named Columbia Thermostat Fund.

Just as a thermostat may be set at different ranges for different seasons, the structure and allocation ranges of the Fund's asset allocation table may be changed from time to time between two forms, based on the Investment Manager's determination of whether it expects the equity market to be moving over the next year in a side-ways or non-directional pattern, which the Investment Manager terms an "expensive" market, or to be trending upward, which the Investment Manager terms a "normal" market. The Investment Manager's process and methodology for determining whether the current market is "expensive" or "normal" and the structure of each form of allocation table are described in more detail below under Determination of Current Market State. Such determination will be made on at least an annual basis and will be reflected in the asset allocation table disclosed in this prospectus. In general, the two different forms of allocation table are intended to maximize the capture of value under the two different sets of market conditions.

The Fund's current asset allocation table, which is set forth below, reflects the Investment Manager's determination that the equity market is currently "expensive." The structure of the Fund's current allocation table reflects the same form that has been in place since the Fund's inception in 2002.

Stock/Bond Allocation Table
  How the Fund will Invest
the Stock/Bond Assets
Level of the
S&P 500® Index
Stock
Percentage
Bond
Percentage
over 3487 10% 90%
over 3353 – 3487 15% 85%
over 3224 – 3353 20% 80%
over 3100 – 3224 25% 75%
over 2981 – 3100 30% 70%
over 2866 – 2981 35% 65%
over 2756 – 2866 40% 60%
over 2650 – 2756 45% 55%
over 2546 – 2650 50% 50%
over 2444 – 2546 55% 45%
over 2346 – 2444 60% 40%
over 2252 – 2346 65% 35%
over 2162 – 2252 70% 30%
over 2076 – 2162 75% 25%
over 1993 – 2076 80% 20%
over 1913 – 1993 85% 15%
1913 and under 90% 10%


When the S&P 500® Index moves into a new band on the table, the Fund will rebalance the stock/bond mix to reflect the new S&P 500® Index price level by redeeming shares of some Portfolio Funds and purchasing shares of other Portfolio Funds. Any such rebalancing typically will be implemented promptly. However, there are two circumstances when a rebalancing may be implemented over a longer timeline. First, when a rebalancing or allocation table change would trigger a 10% point or greater change in stock and bond allocations or individual Portfolio Funds, the rebalancing may be implemented over a period of up to two weeks, if deemed by the Investment Manager to be in the best interest of shareholders. The second exception is a "31-day Rule;" in order to reduce taxable events and minimize short-term trading if the S&P 500® Index price moves back and forth across a band in the allocation table, after the Fund has increased its percentage allocation to either stock funds or bond funds, it will not decrease that allocation for at least 31 days. Following a change in the Fund’s stock/bond mix, if the S&P 500® Index remains within the same band for a while, normal market fluctuations will change the values of the Fund’s holdings of stock Portfolio Funds and bond Portfolio Funds. The Investment Manager will invest cash flows from sales (or redemptions) of Fund shares to bring the stock/bond mix back toward the allocation percentages for that S&P 500® Index band. For example, if the S&P 500® Index is in the 2162 band, and the value of the holdings of the stock Portfolio Funds has dropped to 68% of the value of the holdings of all Portfolio Funds, the Investment Manager would invest new cash in the stock Portfolio Funds (or cash for redemptions would come from the bond Portfolio Funds) to restore the 70% stock allocation. If the 31-day Rule is in effect, the Investment Manager will invest new cash at the stock/bond percentage allocation as of the latest rebalancing.

As another illustrative example, suppose the following:

Date Level of the
S&P 500® Index
How the Fund will
invest the Stock/
Bond Assets(1)
Nov. 1 We begin when the market is 2600 50% stocks, 50% bonds
Dec. 1 The S&P 500® goes to 2705 rebalance 45% stocks, 55% bonds
Dec. 6 The S&P 500® drops back to 2590 no reversal for 31 days
Jan. 2 The S&P 500® is at 2600 rebalance 50% stocks, 50% bonds
Jan. 20 The S&P 500 drops to 2460 Rebalance 55% stocks, 45% bonds(2)
Jan. 30 The S&P 500® goes to 2575 no reversal for 31 days
Feb. 20 The S&P 500® is at 2565 rebalance 50% stocks, 50% bonds
(1) For each rebalancing the Fund will trade the underlying stock and bond Portfolio Funds on the next business day.
(2) The market has made a continuation move by going through a second action level, not a reversal move, so the 31-day Rule does not apply in this case.

The Investment Manager chooses the Portfolio Funds to be generally consistent with the composition of the Fund’s primary stock and bond benchmarks and to allow the Fund to participate in strategies the Investment Manager believes can provide additional return due to active management.

The following table shows the stock and bond Portfolio Funds that the Fund currently uses in its "fund-of-funds" structure and the current target percentage for each Portfolio Fund within the stock or bond asset class. As described more fully below, the Investment Manager may substitute or add additional Portfolio Funds at any time, including funds introduced after the date of this prospectus. The target percentage within each asset class category is achieved by rebalancing the investments within the asset class whenever the S&P 500® Index moves into a new band on the allocation table, subject to the 31-day Rule described above. The Fund will not liquidate its investment in one Portfolio Fund in order to invest in another Portfolio Fund except in connection with a rebalancing due to a move of the S&P 500® Index into a new band (or due to a change by the Investment Manager in the Portfolio Funds or to the relative target percentages among them). Until a subsequent rebalancing, the Fund's cash flows are invested in, or redeemed from, the Portfolio Funds in a manner that will reduce any deviation of the relative values of the Fund's holdings of the Portfolio Funds from the percentages shown below.

Allocation of Stock/Bond Asset Within Asset Classes
  Type of Fund Allocation
Stock Funds    
Columbia Acorn® Fund Small/Mid-cap growth 10%
Columbia Acorn International® Small/Mid-cap international growth 10%
Columbia Acorn SelectSM Mid-cap growth 10%
Columbia Contrarian Core Fund Large-cap blend 10%
Columbia Dividend Income Fund Large-cap value 10%
Columbia Large Cap Enhanced Core Fund Large-cap blend 10%
Columbia Large Cap Index Fund Large-cap blend 40%
Total   100%
     
Bond Funds Type of Fund Allocation
Columbia Corporate Income Fund Corporate bond 10%
Columbia Diversified Fixed Income Allocation ETF Beta advantage multi-sector bond 10%
Columbia Inflation Protected Securities Fund Inflation-protected bond 10%
Columbia Quality Income Fund Government bond 20%
Columbia Short Term Bond Fund Short term bond 15%
Columbia U.S. Treasury Index Fund U.S. Treasury notes/bonds 35%
Total   100%

See the Portfolio Funds Summary section of this prospectus for information about the Portfolio Funds' investment objectives and principal investment strategies. Each of the Portfolio Funds is managed by the Investment Manager or its affiliates. The Fund does not pay any sales load on its purchases of shares of the Portfolio Funds.

The Investment Manager has the authority to review the Portfolio Funds and to change the relative percentages among them or to add or eliminate funds. Such review will occur on at least an annual basis and will be reflected in the Portfolio Funds table disclosed in this prospectus.

Determination of Market State

Just as a thermostat may be set at different ranges for different seasons, the Fund’s allocation of assets between stock and bond funds is expected to be set at different range bands depending principally on the Investment Manager’s view of how expensive the equity market is compared to historical levels.

At least annually, the Investment Manager will conduct a review of the current equity market price levels compared to historical price levels, and will determine if the equity market is in an “expensive” state, or a “normal” state. This review will begin with a comparison of the S&P 500® Index’s cyclically adjusted price-to-earnings ratio for the prior seven years against a 40-year history, but the Investment Manager will also take into account additional quantitative or qualitative market factors, including for example, trends in equity price measures and comparisons of equity prices against prices for other asset classes. Based on its determination of the current market state, the Investment Manager will select the form of allocation table to be effective in the Fund’s current prospectus. Also as part of this review, the Investment Manager will update the median historical information used in the table, and the resulting S&P 500® Index levels used to create the bands around the median, regardless of the market state.

As noted below, the form of table used for an “expensive” market is expected to be different from that used for a “normal” market.

Generally, the Investment Manager will determine the current state of the equity market to be “expensive” when its analysis of the S&P 500® Index’s cyclically adjusted price-to-earnings ratio for the prior seven years is within the top quartile of ratio observations over a 40-year history. The “expensive” equity market form of allocation table for the Fund is structured around an implied S&P 500® Index trading range median of 50% stocks/50% bonds (the 50/50 Band), with allocations to bonds decreasing through stratified range bands below the 50/50 Band and allocations to bonds increasing through stratified range bands above the 50/50 Band, as shown by the following example:

“Expensive” Equity Market Form of Stock/Bond Allocation Table
Level of the S&P 500® Index Stock
Percentage
Bond
Percentage
above top of trading range below 10% 90%
4% trading range above top of range below 15% 85%
4% trading range above top of range below 20% 80%
4% trading range above top of range below 25% 75%
4% trading range above top of range below 30% 70%
4% trading range above top of range below 35% 65%
4% trading range above top of range below 40% 60%
4% trading range above top of range below 45% 55%
4% trading range centered on implied median (50/50 Band)* 50% 50%
4% trading range below bottom of range above 55% 45%
4% trading range below bottom of range above 60% 40%
4% trading range below bottom of range above 65% 35%
4% trading range below bottom of range above 70% 30%
4% trading range below bottom of range above 75% 25%
4% trading range below bottom of range above 80% 20%
4% trading range below bottom of range above 85% 15%
below bottom of trading range above 90% 10%

*Implied median price level as calculated by the Investment Manager.

The “expensive” form of table has been in place since the Fund’s inception in 2002.

Generally, the Investment Manager will determine the current state of the equity market to be “normal” when its analysis of the S&P 500® Index’s cyclically adjusted price-to-earnings ratio for the prior seven years is outside the top quartile of ratio observations over a 40-year history. The “normal” equity market form allocation table for the Fund is also structured around the 50/50 Band, with allocations to bonds decreasing through stratified range bands below the 50/50 Band, and allocations to stocks and bonds set at 50% stocks/50% bonds for all trading levels above the 50/50 Band, as shown by the following example:

“Normal” Equity Market Form of Stock/Bond Allocation Table
Level of the S&P 500® Index Stock
Percentage
Bond
Percentage
above trading range that is 2% below implied median (50/50 Band)* 50% 50%
4% trading range below bottom of range above 55% 45%
4% trading range below bottom of range above 60% 40%
4% trading range below bottom of range above 65% 35%
4% trading range below bottom of range above 70% 30%
4% trading range below bottom of range above 75% 25%
4% trading range below bottom of range above 80% 20%
4% trading range below bottom of range above 85% 15%
below bottom of trading range above 90% 10%

*Implied median price level as calculated by the Investment Manager.

The Investment Manager will conduct the market state review at least annually prior to the annual updating of this prospectus, and may, in its discretion, assess the market state on an "emergency" basis and make any changes deemed necessary to reflect, for example, a very significant move in market levels or a structural change affecting the markets.

Any such "emergency" changes by the Investment Manager, which are expected to be infrequent, would be disclosed in this prospectus.
<b>Principal Risks </b>
An investment in the Fund involves risks, including specific risks relating to the investment in the Fund based on its investment process and its "fund-of-funds" structure, as well as specific risks related to the individual Portfolio Funds in which it invests that in the aggregate are principal risks to the Fund, including among others, those described below. More information about the Portfolio Funds, including their principal risks, is available in their prospectuses. This prospectus is not an offer for any of the Portfolio Funds. There is no assurance that the Fund will achieve its investment objective and you may lose money. The value of the Fund’s holdings may decline, and the Fund’s net asset value (NAV) and share price may go down. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

Allocation Risk. The Investment Manager uses an asset allocation strategy in pursuit of its investment objective, there is a risk that the Fund's allocation among asset classes or investments will cause the Fund's shares to lose value or cause the Fund to underperform other funds with similar investment objectives and/or strategies, or that the investments themselves will not produce the returns expected.

Fund-of-Funds Risk. Determinations regarding asset classes or underlying funds and the Fund’s allocations thereto may not successfully achieve the Fund’s investment objective, in whole or in part. The ability of the Fund to realize its investment objective will depend, in large part, on the extent to which the underlying funds realize their investment objective. There is no guarantee that the underlying funds will achieve their respective investment objectives. The Fund is exposed to the same risks as the underlying funds in direct proportion to the allocation of its assets among the underlying funds. By investing in a combination of underlying funds, the Fund has exposure to the risks of many areas of the market. The performance of underlying funds could be adversely affected if other entities that invest in the same underlying funds make relatively large investments or redemptions in such underlying funds. The Fund, and its shareholders, indirectly bear a portion of the expenses of any funds in which the Fund invests. Because the expenses and costs of each underlying fund are shared by its investors, redemptions by other investors in an underlying fund could result in decreased economies of scale and increased operating expenses for such fund. The Investment Manager may have potential conflicts of interest in selecting affiliated funds over unaffiliated funds for investment by the Fund, and may also face potential conflicts of interest in selecting affiliated funds, because the fees the Investment Manager receives from some underlying funds may be higher than the fees paid by other underlying funds. Further, because of the Investment Manager’s confidence in its own strategies, investment philosophy and capacities, it will, in selecting underlying funds, at times prefer a fund in the Columbia Acorn Family of Funds over alternative investments. There can be no assurance, however, that a fund in the Columbia Acorn Family of Funds selected for inclusion in Columbia Thermostat Fund’s portfolio will, in fact, outperform similar funds managed by the Investment Manager’s affiliates.

The Fund is subject indirectly to the risks of the Portfolio Funds described below. Please see the Portfolio Funds Summary for information about which risks apply to which Portfolio Funds.

Market Risk. The market values of securities or other investments that the Fund holds will fall, sometimes rapidly or unpredictably, or fail to rise. An investment in the Fund could lose money over short or long periods.

Interest Rate Risk. Interest rate risk is the risk of losses attributable to changes in interest rates. In general, if prevailing interest rates rise, the values of loans and other debt instruments tend to fall, and if interest rates fall, the values of loans and other debt instruments tend to rise. Changes in the value of a debt instrument usually will not affect the amount of income the Fund receives from it but will generally affect the value of your investment in the Fund. Changes in interest rates may also affect the liquidity of the Fund’s investments in debt instruments. In general, the longer the maturity or duration of a debt instrument, the greater its sensitivity to changes in interest rates. Interest rate declines also may increase prepayments of debt obligations, which, in turn, would increase prepayment risk. Similarly, a period of rising interest rates may negatively impact the Fund’s performance. Actions by governments and central banking authorities can result in increases in interest rates. Such actions may negatively affect the value of debt instruments held by the Fund, resulting in a negative impact on the Fund's performance and NAV. Securities with floating interest rates are typically less sensitive to interest rate changes, but may decline in value if their interest rates do not rise as much as interest rates in general. Because rates on certain floating rate loans and other debt securities reset only periodically, changes in prevailing interest rates (and particularly sudden and significant changes) can be expected to cause fluctuations in the Fund’s NAV. Any interest rate increases could cause the value of the Fund’s investments in debt instruments to decrease. Rising interest rates may prompt redemptions from the Fund, which may force the Fund to sell investments at a time when it is not advantageous to do so, which could result in losses.

Credit Risk. Credit risk is the risk that the value of loans or other debt instruments may decline if the issuer thereof defaults or otherwise becomes unable or unwilling, or is perceived to be unable or unwilling, to honor its financial obligations, such as making payments to the Fund when due. Rating agencies assign credit ratings to certain debt instruments to indicate their credit risk. Unless otherwise provided in the Fund’s Principal Investment Strategies, investment grade debt instruments are those rated at or above BBB- by S&P Global Ratings, or equivalently rated by Moody’s Investors Service, Inc. or Fitch, Inc., or, if unrated, determined by the management team to be of comparable quality. Conversely, below investment grade (commonly called “high-yield” or “junk”) debt instruments are those rated below BBB- by S&P Global Ratings, or equivalently rated by Moody’s Investors Service, Inc. or Fitch, Inc., or, if unrated, determined by the management team to be of comparable quality. A rating downgrade by such agencies can negatively impact the value of such instruments. Lower quality or unrated instruments held by the Fund may present increased credit risk as compared to higher-rated instruments. Non-investment grade debt instruments may be subject to greater price fluctuations and are more likely to experience a default than investment grade debt instruments and therefore may expose the Fund to increased credit risk. If the Fund purchases unrated instruments, or if the ratings of instruments held by the Fund are lowered after purchase, the Fund will depend on analysis of credit risk more heavily than usual.

High-Yield Investments Risk. Securities and other debt instruments held by the Fund that are rated below investment grade (commonly called “high-yield” or “junk” bonds) and unrated debt instruments of comparable quality expose the Fund to a greater risk of loss of principal and income than a fund that invests solely or primarily in investment grade debt instruments. In addition, these investments have greater price fluctuations, are less liquid and are more likely to experience a default than higher-rated debt instruments. High-yield debt instruments are considered to be predominantly speculative with respect to the issuer’s capacity to pay interest and repay principal.

Value Securities Risk. Value securities are securities of companies that may have experienced, for example, adverse business, industry or other developments or may be subject to special risks that have caused the securities to be out of favor and, in turn, potentially undervalued. The market value of a portfolio security may not meet the Portfolio Fund’s Investment Manager’s perceived value assessment of that security, or may decline in price, even though the Portfolio Fund’s Investment Manager believes the securities are already undervalued. There is also a risk that it may take longer than expected for the value of these investments to rise to the portfolio manager’s perceived value. In addition, value securities, at times, may not perform as well as growth securities or the stock market in general, and may be out of favor with investors for varying periods of time.

Growth Securities Risk. Growth securities typically trade at a higher multiple of earnings than other types of equity securities. Accordingly, the market values of growth securities may never reach their expected market value and may decline in price. In addition, growth securities, at times, may not perform as well as value securities or the stock market in general, and may be out of favor with investors for varying periods of time.

Sector Risk. At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business within one or more economic sectors. Companies in the same sector may be similarly affected by economic, regulatory, political or market events or conditions, which may make the Fund more vulnerable to unfavorable developments in that sector than funds that invest more broadly. Generally, the more the Fund diversifies its investments, the more it spreads risk and potentially reduces the risks of loss and volatility.

Foreign Securities Risk. Investments in or exposure to foreign securities involve certain risks not associated with investments in or exposure to securities of U.S. companies. Foreign securities subject the Fund to the risks associated with investing in the particular country of an issuer, including political, regulatory, economic, social, diplomatic and other conditions or events (including, for example, military confrontations, war and terrorism), occurring in the country or region, as well as risks associated with less developed custody and settlement practices. Foreign securities may be more volatile and less liquid than securities of U.S. companies, and are subject to the risks associated with potential imposition of economic and other sanctions against a particular foreign country, its nationals or industries or businesses within the country. In addition, foreign governments may impose withholding or other taxes on the Fund’s income, capital gains or proceeds from the disposition of foreign securities, which could reduce the Fund’s return on such securities.

Operational and Settlement Risks of Foreign Securities. The Fund’s foreign securities are generally held outside the United States in the primary market for the securities in the custody of foreign sub-custodians. Some countries have limited governmental oversight and regulation, which increases the risk of corruption and fraud and the possibility of losses to the Fund. In particular, under certain circumstances, foreign securities may settle on a delayed delivery basis, meaning that the Fund may be required to make payment for securities before the Fund has actually received delivery of the securities or deliver securities prior to the receipt of payment. As a result, there is a risk that the security will not be delivered to the Fund or that payment will not be received. Losses can also result from lost, stolen or counterfeit securities; defaults by brokers and banks; failures or defects of the settlement system; or poor and improper record keeping by registrars and issuers.

Share Blocking. In certain non-U.S. markets, an issuer’s securities are blocked from trading for a specified number of days before and, in certain instances, after a shareholder meeting. The blocking period can last up to several weeks. Share blocking may prevent the Fund from buying or selling securities during this period. As a consequence of these restrictions, the Portfolio Fund's Investment Manager, on behalf of the Fund, may abstain from voting proxies in markets that require share blocking.

Emerging Market Securities Risk. Securities issued by foreign governments or companies in emerging market countries, such as China, Russia and certain countries 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 changes or developments in social, political, economic or other conditions. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity (i.e., lower trading volumes and less liquidity) 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 and have fewer trading partners, which makes them more sensitive to world commodity prices and economic downturns in other countries, and some have a higher risk of currency devaluations.

Operational and Settlement Risks of Securities in Emerging Markets. Foreign sub-custodians in emerging markets may be recently organized, lack extensive operating experience or lack effective government oversight or regulation. In addition, there may be legal restrictions or limitations on the ability of the Fund to recover assets held in custody by a foreign sub-custodian in the event of the bankruptcy of the sub-custodian. There may also be a greater risk that settlement may be delayed and that cash or securities of the Fund may be lost because of failures of or defects in the system, including fraud or corruption. Settlement systems in emerging markets also have a higher risk of failed trades.

Risks Related to Currencies and Corporate Actions in Emerging Markets. Risks related to currencies and corporate actions are also greater in emerging market countries than in developed countries. Emerging market currencies may not have an active trading market and are subject to a higher risk of currency devaluations.

Risks Related to Corporate and Securities Laws in Emerging Markets. Securities laws in emerging markets may be relatively new and unsettled and, consequently, there is a risk of rapid and unpredictable change in laws regarding foreign investment, securities regulation, title to securities and shareholder rights.

Liquidity and Trading Volume Risk. Due to market conditions, including uncertainty regarding the price of a security, it may be difficult for the Fund to buy or sell portfolio securities at a desirable time or price, which could result in investment losses. This risk of portfolio illiquidity is heightened with respect to small- and mid-cap securities, generally, and foreign small- and mid-cap securities in particular. The Fund may have to lower the selling price, liquidate other investments, or forego another, more appealing investment opportunity as a result of illiquidity in the markets. The Fund may also be limited in its ability to execute favorable trades in portfolio securities in response to changes in share prices and fundamentals, and may be forced to dispose of securities under disadvantageous circumstances and at a loss. As the Fund grows in size or, conversely, if it faces significant redemption pressure, these considerations take on increasing significance and may adversely impact performance.

Foreign Currency Risk. The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar, particularly if the Fund invests a significant percentage of its assets in foreign securities or other assets denominated in currencies other than the U.S. dollar.

Issuer Risk. An issuer in which the Fund invests or to which it has exposure may perform poorly, and the value of its securities may therefore decline, which may negatively affect the Fund’s performance. Underperformance may be caused by poor management decisions, competitive pressures, breakthroughs in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent disclosures, natural disasters or other events, conditions or factors.

Investments in larger, more established companies may involve certain risks associated with their larger size. For instance, larger, more established companies may be less able to respond quickly to new competitive challenges, such as changes in consumer tastes or innovation from smaller competitors. Also, larger companies are sometimes less able to attain the high growth rates of successful smaller companies, especially during extended periods of economic expansion.

Small- and Mid-Cap Company Securities Risk. Investments in small- and mid-cap companies often involve greater risks than investments in larger, more established companies because small- and mid-cap companies tend to have less predictable earnings and may lack the management experience, financial resources, product diversification and competitive strengths of larger companies. Securities of small- and mid-cap companies may be less liquid and more volatile than the securities of larger companies.

U.S. Government Obligations Risk. While U.S. Treasury obligations are backed by the “full faith and credit” of the U.S. Government, such securities are nonetheless subject to credit risk (i.e., the risk that the U.S. Government may be, or be perceived to be, unable or unwilling to honor its financial obligations, such as making payments). Securities issued or guaranteed by federal agencies or authorities and U.S. Government-sponsored instrumentalities or enterprises may or may not be backed by the full faith and credit of the U.S. Government.

Derivatives Risk. Derivatives may involve significant risks. Derivatives are financial instruments with a value in relation to, or derived from, the value of an underlying asset(s) or other reference, such as an index, rate or other economic indicator (each an underlying reference). Derivatives may include those that are privately placed or otherwise exempt from SEC registration, including certain Rule 144A eligible securities. Derivatives could result in Fund losses if the underlying reference does not perform as anticipated. Use of derivatives is a highly specialized activity that can involve investment techniques, risks, and tax planning different from those associated with more traditional investment instruments. The Fund’s derivatives strategy may not be successful and use of certain derivatives could result in substantial, potentially unlimited, losses to the Fund regardless of the Fund’s actual investment. A relatively small movement in the price, rate or other economic indicator associated with the underlying reference may result in substantial loss for the Fund. Derivatives may be more volatile than other types of investments. The value of derivatives may be influenced by a variety of factors, including national and international political and economic developments. Potential changes to the regulation of the derivatives markets may make derivatives more costly, may limit the market for derivatives, or may otherwise adversely affect the value or performance of derivatives. Derivatives can increase the Fund’s risk exposure to underlying references and their attendant risks, such as credit risk, market risk, foreign currency risk and interest rate risk, while exposing the Fund to correlation risk, counterparty risk, hedging risk, inflation risk, leverage risk, liquidity risk, pricing risk and volatility risk.

Convertible Securities Risk. Convertible securities are subject to the usual risks associated with debt instruments, such as interest rate risk and credit risk. Convertible securities also react to changes in the value of the common stock into which they convert, and are thus subject to market risk. The Fund may also be forced to convert a convertible security at an inopportune time, which may decrease the Fund’s return.

Forward Commitments on Mortgage-Backed Securities (including Dollar Rolls) Risk. When purchasing mortgage-backed securities in the “to be announced” (TBA) market (MBS TBAs), the seller agrees to deliver mortgage-backed securities for an agreed upon price on an agreed upon date, but may make no guarantee as to the specific securities to be delivered. In lieu of taking delivery of mortgage-backed securities, the Fund could enter into dollar rolls, which are transactions in which the Fund sells securities to a counterparty and simultaneously agrees to purchase those or similar securities in the future at a predetermined price. Dollar rolls involve the risk that the market value of the securities the Fund is obligated to repurchase may decline below the repurchase price, or that the counterparty may default on its obligations. These transactions may also increase the Fund’s portfolio turnover rate. If the Fund reinvests the proceeds of the security sold, the Fund will also be subject to the risk that the investments purchased with such proceeds will decline in value (a form of leverage risk). MBS TBAs and dollar rolls are subject to the risk that the counterparty to the transaction may not perform or be unable to perform in accordance with the terms of the instrument.

Mortgage- and Other Asset-Backed Securities Risk. The value of any mortgage-backed and other asset-backed securities held by the Fund may be affected by, among other things, changes or perceived changes in: interest rates; factors concerning the interests in and structure of the issuer or the originator of the mortgages or other assets; the creditworthiness of the entities that provide any supporting letters of credit, surety bonds or other credit enhancements; or the market's assessment of the quality of underlying assets. Payment of principal and interest on some mortgage-backed securities (but not the market value of the securities themselves) may be guaranteed by the full faith and credit of a particular U.S. Government agency, authority, enterprise or instrumentality, and some, but not all, are also insured or guaranteed by the U.S. Government. Mortgage-backed securities issued by non-governmental issuers (such as commercial banks, savings and loan institutions, private mortgage insurance companies, mortgage bankers and other secondary market issuers) may entail greater risk than obligations guaranteed by the U.S. Government. Mortgage- and other asset-backed securities are subject to liquidity risk and prepayment risk. A decline or flattening of housing values may cause delinquencies in the mortgages (especially sub-prime or non-prime mortgages) underlying mortgage-backed securities and thereby adversely affect the ability of the mortgage-backed securities issuer to make principal and/or interest payments to mortgage-backed securities holders, including the Fund. Rising or high interest rates tend to extend the duration of mortgage- and other asset-backed securities, making their prices more volatile and more sensitive to changes in interest rates.

Stripped Securities Risk. Stripped securities are the separate income or principal components of debt securities. These securities are particularly sensitive to changes in interest rates, and therefore subject to greater fluctuations in price than typical interest bearing debt securities.

Prepayment and Extension Risk. Prepayment and extension risk is the risk that a bond or other security or investment might, in the case of prepayment risk, be called or otherwise converted, prepaid or redeemed before maturity and, in the case of extension risk, that the investment might not be called as expected. In the case of prepayment risk, if the investment is converted, prepaid or redeemed before maturity, the portfolio managers may not be able to invest the proceeds in other investments providing as high a level of income, resulting in a reduced yield to the Fund. In the case of mortgage- or other asset-backed securities, as interest rates decrease or spreads narrow, the likelihood of prepayment increases. Conversely, extension risk is the risk that an unexpected rise in interest rates will extend the life of a mortgage- or other asset-backed security beyond the prepayment time. If the Fund’s investments are locked in at a lower interest rate for a longer period of time, the portfolio managers may be unable to capitalize on securities with higher interest rates or wider spreads.

Reinvestment Risk. Reinvestment risk arises when the Fund is unable to reinvest income or principal at the same return it is currently earning.

Depositary Receipts Risk. Depositary receipts are receipts issued by a bank or trust company reflecting ownership of underlying securities issued by foreign companies. Some foreign securities are traded in the form of American Depositary Receipts and/or Global Depositary Receipts. Depositary receipts involve risks similar to the risks associated with investments in foreign securities, including those associated with investing in the particular country of an issuer, which may be related to the particular political, regulatory, economic, social and other conditions or events, including, for example, military confrontations, war and terrorism, occurring in the country and fluctuations in such country’s currency, as well as market risk tied to the underlying foreign company. In addition, holders of depositary receipts may have limited voting rights, may not have the same rights afforded to stockholders of a typical domestic company in the event of a corporate action, such as an acquisition, merger or rights offering, and may experience difficulty in receiving company stockholder communications. There is no guarantee that a financial institution will continue to sponsor a depositary receipt, or that a depositary receipt will continue to trade on an exchange, either of which could adversely affect the liquidity, availability and pricing of the depositary receipt. Changes in foreign currency exchange rates will affect the value of depositary receipts and, therefore, may affect the value of your investment in the Fund.

Derivatives Risk – Futures Contracts Risk. A futures contract is an exchange-traded derivative transaction between two parties in which a buyer (holding the “long” position) agrees to pay a fixed price (or rate) at a specified future date for delivery of an underlying reference from a seller (holding the “short” position). The seller hopes that the market price on the delivery date is less than the agreed upon price, while the buyer hopes for the contrary. Certain futures contract markets are highly volatile, and futures contracts may be illiquid. Futures exchanges may limit fluctuations in futures contract prices by imposing a maximum permissible daily price movement. The Fund may be disadvantaged if it is prohibited from executing a trade outside the daily permissible price movement. At or prior to maturity of a futures contract, the Fund may enter into an offsetting contract and may incur a loss to the extent there has been adverse movement in futures contract prices. The liquidity of the futures markets depends on participants entering into offsetting transactions rather than making or taking delivery. To the extent participants make or take delivery, liquidity in the futures market could be reduced. Because of the low margin deposits normally required in futures trading, it is possible that the Fund may employ a high degree of leverage in the portfolio. As a result, a relatively small price movement in a futures contract may result in substantial losses to the Fund, exceeding the amount of the margin paid. For certain types of futures contracts, losses are potentially unlimited. Futures markets are highly volatile and the use of futures may increase the volatility of the Fund’s NAV. Futures contracts executed (if any) on foreign exchanges may not provide the same protection as U.S. exchanges. Futures contracts can increase the Fund’s risk exposure to underlying references and their attendant risks, such as credit risk, market risk, foreign currency risk and interest rate risk, while also exposing the Fund to correlation risk, counterparty risk, hedging risk, inflation risk, leverage risk, liquidity risk, pricing risk and volatility risk.

Changing Distribution Level Risk. The Fund will normally receive income which may include interest, dividends and/or capital gains, depending upon its investments. The distribution amount paid by the Fund will vary and generally depends on the amount of income the Fund earns (less expenses) on its portfolio holdings, and capital gains or losses it recognizes. A decline in the Fund’s income or net capital gains arising from its investments may reduce its distribution level.

Rule 144A and Other Exempted Securities Risk. The Fund may invest in privately placed and other securities or instruments exempt from SEC registration (collectively “private placements”), subject to liquidity and other regulatory restrictions. In the U.S. market, private placements are typically sold only to qualified institutional buyers, or qualified purchasers, as applicable. An insufficient number of buyers interested in purchasing private placements at a particular time could adversely affect the marketability of such investments and the Fund might be unable to dispose of them promptly or at reasonable prices, subjecting the Fund to liquidity risk. The Fund may invest in private placements determined to be liquid as well as those determined to be illiquid. Even if determined to be liquid, the Fund’s holdings of private placements may increase the level of Fund illiquidity if eligible buyers are unable or unwilling to purchase them at a particular time. Issuers of Rule 144A eligible securities are required to furnish information to potential investors upon request. However, the required disclosure is much less extensive than that required of public companies and is not publicly available since the offering is not filed with the SEC. Further, issuers of Rule 144A eligible securities can require recipients of the offering information (such as the Fund) to agree contractually to keep the information confidential, which could also adversely affect the Fund’s ability to dispose of the security.

Select Portfolio Risk. Because the Fund may invest in a limited number of companies, the Fund as a whole is subject to greater risk of loss if any of its portfolio securities decline in price. The Fund accordingly may be more susceptible to economic, political and regulatory developments than a fund that invests in a greater number of companies. In addition, the Fund’s holdings and weightings will diverge significantly from its primary benchmark’s holdings and weightings and the Fund may therefore experience greater risk and volatility relative to the benchmark. Because the Fund may invest in more than one company concentrated in a similar industry, sector or geographic region, the Fund may be even more concentrated than the number of companies it may hold would suggest.

Derivatives Risk – Swaps Risk. In a typical swap transaction, two parties agree to exchange the return earned on a specified underlying reference for a fixed return or the return from another underlying reference during a specified period of time. Swaps may be difficult to value and may be illiquid. Swaps could result in Fund losses if the underlying asset or reference does not perform as anticipated. Swaps create significant investment leverage such that a relatively small price movement in a swap may result in immediate and substantial losses to the Fund. The Fund may only close out a swap with its particular counterparty, and may only transfer a position with the consent of that counterparty. Certain swaps, such as short swap transactions and total return swaps, have the potential for unlimited losses, regardless of the size of the initial investment. Swaps can increase the Fund’s risk exposure to underlying references and their attendant risks, such as credit risk, market risk, foreign currency risk and interest rate risk, while also exposing the Fund to correlation risk, counterparty risk, hedging risk, inflation risk, leverage risk, liquidity risk, pricing risk and volatility risk.

Highly Leveraged Transactions Risk. The loans or other debt instruments in which the Fund invests may include highly leveraged transactions whereby the borrower assumes large amounts of debt in order to have the financial resources to attempt to achieve its business objectives. Loans or other debt instruments that are part of highly leveraged transactions involve a greater risk (including default and bankruptcy) than other investments.

Counterparty Risk. Counterparty risk is the risk that a counterparty to a transaction in a financial instrument held by the Fund or by a special purpose or structured vehicle invested in by the Fund may become insolvent or otherwise fail to perform its obligations. As a result, the Fund may obtain no or limited recovery of its investment, and any recovery may be significantly delayed.

Exchange-Traded Fund (ETF) Risk. ETFs are subject to, among other risks, tracking risk and passive and, in some cases, active investment risk. An ETF’s share price may not track its specified market index (if any) and may trade below its NAV. Certain ETFs use a “passive” investment strategy and do not take defensive positions in volatile or declining markets. Other ETFs are actively managed ETFs (i.e., they do not track a particular benchmark), which are subject to active management risk. An active secondary market in ETF shares may not develop or be maintained and may be halted or interrupted due to actions by its listing exchange, unusual market conditions or other reasons. There can be no assurance that an ETF’s shares will continue to be listed on an active exchange. In addition, shareholders bear expenses incurred through ownership of the ETF. There is a risk that ETFs may terminate due to extraordinary events. For example, any of the service providers to ETFs, such as the trustee or sponsor, may close or otherwise fail to perform their obligations to the ETF, and the ETF may not be able to find a substitute service provider. Also, certain ETFs may be dependent upon licenses to use various indexes as a basis for determining their compositions and/or otherwise to use certain trade names. If these licenses are terminated, the ETFs may also terminate. In addition, an ETF may terminate if its net assets fall below a certain amount.

Liquidity Risk. Liquidity risk is the risk associated with any event, circumstance, or characteristic of an investment or market that negatively impacts the Fund’s ability to sell, or realize the proceeds from the sale of, an investment at a desirable time or price. Liquidity risk may arise because of, for example, a lack of marketability of the investment, which means that when seeking to sell its portfolio investments, the Fund could find that selling is more difficult than anticipated, especially during times of high market volatility. Decreases in the number of financial institutions, including banks and broker-dealers, willing to make markets (match up sellers and buyers) in the Fund’s investments or decreases in their capacity or willingness to trade such investments may increase the Fund’s exposure to this risk. The debt market has experienced considerable growth, and financial institutions making markets in instruments purchased and sold by the Fund (e.g., bond dealers) have been subject to increased regulation. The impact of that growth and regulation on the ability and willingness of financial institutions to engage in trading or “making a market” in such instruments remains unsettled. Certain types of investments, such as lower-rated securities or those that are purchased and sold in over-the-counter markets, may be especially subject to liquidity risk. Securities or other assets in which the Fund invests may be traded in the over-the-counter market rather than on an exchange and therefore may be more difficult to purchase or sell at a fair price, which may have a negative impact on the Fund’s performance. Market participants attempting to sell the same or a similar instrument at the same time as the Fund could exacerbate the Fund’s exposure to liquidity risk. The Fund may have to accept a lower selling price for the holding, sell other liquid or more liquid investments that it might otherwise prefer to hold (thereby increasing the proportion of the Fund’s investments in less liquid or illiquid securities), or forego another more appealing investment opportunity.

Certain investments that were liquid when purchased by the Fund may later become illiquid, particularly in times of overall economic distress. Changing regulatory, market or other conditions or environments (for example, the interest rate or credit environments) may also adversely affect the liquidity and the price of the Fund's investments. Judgment plays a larger role in valuing illiquid or less liquid investments as compared to valuing liquid or more liquid investments. Price volatility may be higher for illiquid or less liquid investments as a result of, for example, the relatively less frequent pricing of such securities (as compared to liquid or more liquid investments). Generally, the less liquid the market at the time the Fund sells a portfolio investment, the greater the risk of loss or decline of value to the Fund. Overall market liquidity and other factors can lead to an increase in redemptions, which may negatively impact Fund performance and NAV, including, for example, if the Fund is forced to sell investments in a down market.

Derivatives Risk – Forward Contracts Risk. A forward contract is an over-the-counter derivative transaction between two parties to buy or sell a specified amount of an underlying reference at a specified price (or rate) on a specified date in the future. Forward contracts are negotiated on an individual basis and are not standardized or traded on exchanges. The market for forward contracts is substantially unregulated and can experience lengthy periods of illiquidity, unusually high trading volume and other negative impacts, such as political intervention, which may result in volatility or disruptions in such markets. A relatively small price movement in a forward contract may result in substantial losses to the Fund, exceeding the amount of the margin paid. Forward contracts can increase the Fund’s risk exposure to underlying references and their attendant risks, such as credit risk, market risk, foreign currency risk and interest rate risk, while also exposing the Fund to correlation risk, counterparty risk, hedging risk, inflation risk, leverage risk, liquidity risk, pricing risk and volatility risk.

Frequent Trading Risk. The portfolio managers may actively and frequently trade investments in the Fund's portfolio to carry out its investment strategies. Frequent trading of investments increases the possibility that the Fund, as relevant, will realize taxable capital gains (including short-term capital gains, which are generally taxable to shareholders at higher rates than long-term capital gains for U.S. federal income tax purposes), which could reduce the Fund's after-tax return. Frequent trading can also mean higher brokerage and other transaction costs, which could reduce the Fund's return. The trading costs and tax effects associated with portfolio turnover may adversely affect the Fund’s performance.

Inflation-Protected Securities Risk. Inflation-protected debt securities tend to react to changes in real interest rates (i.e., nominal interest rates minus the expected impact of inflation). In general, the price of such securities falls when real interest rates rise, and rises when real interest rates fall. Interest payments on these securities will vary and may be more volatile than interest paid on ordinary bonds. In periods of deflation, the Fund may have no income at all from such investments.

Leverage Risk. Leverage occurs when the Fund increases its assets available for investment using borrowings, derivatives, or similar instruments or techniques. Use of leverage can produce volatility and may exaggerate changes in the NAV of Fund shares and in the return on the Fund’s portfolio, which may increase the risk that the Fund will lose more than it has invested. If the Fund uses leverage, through the purchase of particular instruments such as derivatives, the Fund may experience capital losses that exceed the net assets of the Fund. Leverage can create an interest expense that may lower the Fund's overall returns. Leverage presents the opportunity for increased net income and capital gains, but may also exaggerate the Fund’s volatility and risk of loss. There can be no guarantee that a leveraging strategy will be successful.

Sovereign Debt Risk. A sovereign debtor’s willingness or ability to repay principal and pay interest in a timely manner may be affected by a variety of factors, including its cash flow situation, the extent of its reserves, the availability of sufficient foreign exchange on the date a payment is due, the relative size of the debt service burden to the economy as a whole, the sovereign debtor’s policy toward international lenders, and the political constraints to which a sovereign debtor may be subject.

The Fund is subject indirectly to the following risks of Portfolio Funds seeking returns that correspond to a stated market index (the Index).

Passive Investment Risk. The Fund is not “actively” managed and may be affected by a general decline in market segments related to its underlying index. The Fund invests in securities or instruments included in, or believed by the Portfolio Fund’s Investment Manager to be representative of, its underlying index, regardless of their investment merits. The Fund does not seek temporary defensive positions when markets decline or appear overvalued.

Index Fund Risk. An index fund seeks to track the performance of the Index by using indexing strategies and, therefore, would not necessarily sell a security because the security’s issuer was in financial trouble or defaulted, or whose credit rating was downgraded, unless that security was removed from the Index. The decision of whether to remove a security from an index is made by an independent index provider who is not affiliated with the Fund or the Investment Manager or its affiliates.

Index Methodology Risk. An index fund seeks performance that corresponds to the performance of the Index. There is no guarantee or assurance that the Index will achieve high, or even positive, returns. The Index may underperform more traditional indices. The Fund could lose value while other indices or measures of market performance increase in value or performance. In addition, the Fund may be subject to the risk that the index provider may not follow its stated methodology for construction of the Index and/or achieve the index provider’s intended performance objective. Errors may result in a negative performance impact to the Fund and its shareholders.

Correlation/Tracking Error Risk. An index fund’s value will generally decline when the performance of the Index declines. A number of factors may affect the Fund’s ability to achieve a high degree of correlation with the Index, and there is no guarantee that the Fund will achieve a high degree of correlation. Failure to achieve such degree of correlation may prevent the Fund from achieving its investment objective. The factors that may adversely affect the Fund’s correlation with the Index include the size of the Fund’s portfolio, fees, expenses, transaction costs, income items, valuation methodology, accounting standards, the effectiveness of sampling techniques (if applicable), changes in the Index and disruptions or illiquidity in the markets for the securities in which the Fund invests. While the Fund typically attempts to track the performance of the Index by investing all, or substantially all, of its assets in the securities that make up the Index in approximately the same proportion as their weighting in the Index, at times, the Fund may not have investment exposure to all securities in the Index, or its weighting of investment exposure to securities may be different from that of the Index. In addition, the Fund may invest in securities not included in the Index. The Fund may take or refrain from taking investment positions for various reasons, such as tax efficiency purposes, or to comply with regulatory restrictions, which may negatively affect the Fund’s correlation with the Index. The Fund may also be subject to large movements of assets into and out of the Fund, potentially resulting in the Fund being over- or under-exposed to certain securities comprising the Index and may be impacted by Index reconstitutions and Index rebalancing events. Holding cash balances may detract from the Fund’s ability to track the Index. In addition, the Fund’s NAV may deviate from the Index if the Fund fair values a portfolio security at a price other than the price used by the Index for that security. The Fund also bears management and other expenses and transaction costs in trading securities, which the Index does not bear. Accordingly, the Fund’s performance will likely fail to match the performance of the Index, after taking expenses into account. Any of these factors could decrease correlation between the performance of the Fund and the Index and may hinder the Fund’s ability to meet its investment objective. It is not possible to invest directly in an index.

New Fund Risk. Columbia Diversified Fixed Income Allocation ETF is a recently-formed Fund. Accordingly, investors in the Fund bear the risk that the Fund may not be successful in implementing its investment strategy of replicating the Index, which could result in the Fund being liquidated at any time without shareholder approval and/or at a time that may not be favorable for shareholders. Such a liquidation could have negative tax consequences for shareholders.
<b>Performance Information </b>
The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund’s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund’s returns for the periods shown with those of two broad-based indexes: the S&P 500® Index, the Fund’s primary benchmark for equity securities, and the Bloomberg Barclays U.S. Aggregate Bond Index, the Fund’s primary benchmark for debt securities. The table below also compares the Fund's returns with a secondary, custom index, the Blended Benchmark. The S&P 500® Index tracks the performance of 500 widely held, large-capitalization U.S. stocks. The Bloomberg Barclays U.S. Aggregate Bond Index is a market value-weighted index that tracks the daily price, coupon, pay-downs, and total return performance of fixed-rate, publicly placed, dollar-denominated, and non-convertible investment grade debt issues with at least $250 million par amount outstanding and with at least one year to final maturity.  The Blended Benchmark was established by the Investment Manager to show how the Fund’s performance compares to an equally weighted custom composite of the Fund’s primary equity and primary debt benchmarks, the S&P 500® Index and the Bloomberg Barclays U.S. Aggregate Bond Index, respectively. The percentage of the Fund’s assets allocated to underlying stock and bond Portfolio Funds will vary, and accordingly the composition of the Fund’s portfolio will not always reflect the composition of the Blended Benchmark.

The performance of one or more share classes shown in the Average Annual Total Returns table below includes the Fund’s Class Inst share returns (adjusted to reflect the higher class-related operating expenses of such classes, where applicable) for periods prior to the indicated inception date of such share classes. Except for differences in fees and expenses, all share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities.

The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. Your actual after-tax returns will depend on your personal tax situation and may differ from those shown in the table. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class Inst shares and will vary for other share classes. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares.

The Fund’s performance prior to May 2018 reflects returns achieved following a principal investment strategy with a single form of allocation table. While the Fund now follows a principal investment strategy with two potential forms of allocation table, as described above in the Principal Investment Strategies section, the form of the Fund’s currently effective allocation table has been in place since the Fund’s inception in 2002. The Fund's performance prior to May 2018 reflects the current form of allocation table.

The Fund’s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future. Updated performance information can be obtained by calling toll-free 800.345.6611 or visiting columbiathreadneedleus.com.
<b>Year by Year Total Return (%)<br/> as of December 31 Each Year</b>
Bar Chart
[1] Year to Date return as of March 31, 2019: 6.01%
Best and Worst Quarterly Returns
During the Period Shown in the Bar Chart


Best                                                     2nd Quarter 2009                                                      19.33%

Worst                                                   1st Quarter 2009                                                     -9.77%
<b>Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2018) </b>
Average Annual Total Returns - Columbia Thermostat Fund
Share Class Inception Date
1 Year
5 Years
10 Years
Class Inst Sep. 25, 2002 0.12% 3.22% 9.04%
Class Inst | returns after taxes on distributions Sep. 25, 2002 (1.69%) 1.74% 7.84%
Class Inst | returns after taxes on distributions and sale of Fund shares Sep. 25, 2002 0.53% 2.00% 7.02%
Class A Mar. 03, 2003 (5.86%) 1.74% 8.12%
Class Adv Nov. 08, 2012 0.12% 3.22% 9.03%
Class C Mar. 03, 2003 (1.83%) 2.19% 7.95%
Class Inst2 Nov. 08, 2012 0.16% 3.25% 9.05%
Class Inst3 Nov. 08, 2012 0.21% 3.29% 9.08%
Blended Benchmark (Secondary Benchmark; an equally weighted custom composite of the Fund's primary benchmarks for equity and debt securities, established by the Investment Manager; reflects no deductions for fees, expenses or taxes)   (1.90%) 5.65% 8.46%
S&P 500® Index (Primary Equity Benchmark; reflects no deductions for fees, expenses or taxes)   (4.38%) 8.49% 13.12%
Bloomberg Barclays U.S. Aggregate Bond Index (Primary Debt Benchmark; reflects no deductions for fees, expenses or taxes)   0.01% 2.52% 3.48%

XML 33 R65.htm IDEA: XBRL DOCUMENT v3.19.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName COLUMBIA ACORN TRUST
Prospectus Date rr_ProspectusDate May 01, 2019
Columbia Thermostat Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading SUMMARY OF THE FUND
Objective [Heading] rr_ObjectiveHeading <b>Investment Objective </b>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock Columbia Thermostat FundSM (the Fund) seeks long-term capital appreciation.
Expense [Heading] rr_ExpenseHeading <b>Fees and Expenses of the Fund </b>
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. An investor transacting in a class of Fund shares without any front-end sales charge, contingent deferred sales charge, or other asset-based fee for sales or distribution may be required to pay a commission to the financial intermediary for effecting such transactions. Such commission rates are set by the financial intermediary and are not reflected in the tables or the example below. You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 55 of the Fund’s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <b>Shareholder Fees (fees paid directly from your investment) </b>
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) </b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination April 30, 2020
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <b>Portfolio Turnover </b>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund will indirectly bear the expenses associated with portfolio turnover of the underlying Portfolio Funds in which the Fund invests. Each Portfolio Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A Portfolio Fund’s higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when its shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 122% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 122.00%
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the Choosing a Share Class section beginning on page 55 of the Fund’s prospectus, in Appendix A to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under Sales Charge Waivers beginning on page S-1.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 50,000
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent Other expenses have been restated to reflect current transfer agency fees paid by the Fund.
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees “Total annual Fund operating expenses” include acquired fund (Portfolio Fund) fees and expenses (expenses the Fund incurs indirectly through its investments in other funds) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include Portfolio Fund (acquired fund) fees and expenses.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
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 the applicable class of Fund shares for the periods indicated,
  • your investment has a 5% return each year, and
  • the Fund’s total annual operating expenses remain the same as shown in the Annual Fund Operating Expenses table above.
Since the waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire as indicated in the preceding table, they are only reflected in the 1 year example and the first year of the other examples. Although your actual costs may be higher or lower, based on the assumptions listed above, your costs would be:
Strategy [Heading] rr_StrategyHeading <b>Principal Investment Strategies </b>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund is primarily managed as a fund that invests in other funds (i.e., a "fund-of-funds") that seeks to achieve its investment objective by investing its assets among a selected group of underlying stock and bond mutual funds and exchanged-traded funds (ETFs) for which Columbia Wanger Asset Management, LLC, the Fund's investment adviser (the Investment Manager) or its affiliates, including Columbia Management Investment Advisers, LLC (Columbia Management), serves as investment adviser or principal underwriter (the Portfolio Funds). Under normal circumstances, the Fund allocates at least 95% of its net assets (stock/bond assets) among the Portfolio Funds according to an asset allocation table based on the current level of Standard & Poor's (S&P) 500® Index.

Generally, the Fund's allocation to stock funds increases as the S&P 500® Index declines and decreases as the S&P 500® Index rises. When the S&P 500® Index goes up in relation to trading range bands that are predetermined by the Investment Manager, the Fund sells a portion of its stock Portfolio Funds and invests more in the bond Portfolio Funds, and when the S&P 500® Index goes down in relation to the predetermined bands, the Fund increases its investment in the stock Portfolio Funds. Under normal circumstances, the Fund may invest up to 5% of net assets plus any cash received that day in cash, high quality short-term paper and government securities.

Although many asset allocation funds follow a basic approach of moving assets from stocks to bonds when the equity market goes up, and from bonds to stocks when the equity market goes down, some are run by investment managers who allocate fund assets by making subjective decisions based on complicated economic and financial models and complex graphs of market behavior. By contrast, the day-to-day investment decisions for the Fund are made according to a single predetermined allocation table set forth below. The temperature in your house is run by a single rule: your thermostat turns on the furnace if your house is too cold or turns on the air conditioner if your house is too warm. This Fund works the same way, so it is named Columbia Thermostat Fund.

Just as a thermostat may be set at different ranges for different seasons, the structure and allocation ranges of the Fund's asset allocation table may be changed from time to time between two forms, based on the Investment Manager's determination of whether it expects the equity market to be moving over the next year in a side-ways or non-directional pattern, which the Investment Manager terms an "expensive" market, or to be trending upward, which the Investment Manager terms a "normal" market. The Investment Manager's process and methodology for determining whether the current market is "expensive" or "normal" and the structure of each form of allocation table are described in more detail below under Determination of Current Market State. Such determination will be made on at least an annual basis and will be reflected in the asset allocation table disclosed in this prospectus. In general, the two different forms of allocation table are intended to maximize the capture of value under the two different sets of market conditions.

The Fund's current asset allocation table, which is set forth below, reflects the Investment Manager's determination that the equity market is currently "expensive." The structure of the Fund's current allocation table reflects the same form that has been in place since the Fund's inception in 2002.

Stock/Bond Allocation Table
  How the Fund will Invest
the Stock/Bond Assets
Level of the
S&P 500® Index
Stock
Percentage
Bond
Percentage
over 3487 10% 90%
over 3353 – 3487 15% 85%
over 3224 – 3353 20% 80%
over 3100 – 3224 25% 75%
over 2981 – 3100 30% 70%
over 2866 – 2981 35% 65%
over 2756 – 2866 40% 60%
over 2650 – 2756 45% 55%
over 2546 – 2650 50% 50%
over 2444 – 2546 55% 45%
over 2346 – 2444 60% 40%
over 2252 – 2346 65% 35%
over 2162 – 2252 70% 30%
over 2076 – 2162 75% 25%
over 1993 – 2076 80% 20%
over 1913 – 1993 85% 15%
1913 and under 90% 10%


When the S&P 500® Index moves into a new band on the table, the Fund will rebalance the stock/bond mix to reflect the new S&P 500® Index price level by redeeming shares of some Portfolio Funds and purchasing shares of other Portfolio Funds. Any such rebalancing typically will be implemented promptly. However, there are two circumstances when a rebalancing may be implemented over a longer timeline. First, when a rebalancing or allocation table change would trigger a 10% point or greater change in stock and bond allocations or individual Portfolio Funds, the rebalancing may be implemented over a period of up to two weeks, if deemed by the Investment Manager to be in the best interest of shareholders. The second exception is a "31-day Rule;" in order to reduce taxable events and minimize short-term trading if the S&P 500® Index price moves back and forth across a band in the allocation table, after the Fund has increased its percentage allocation to either stock funds or bond funds, it will not decrease that allocation for at least 31 days. Following a change in the Fund’s stock/bond mix, if the S&P 500® Index remains within the same band for a while, normal market fluctuations will change the values of the Fund’s holdings of stock Portfolio Funds and bond Portfolio Funds. The Investment Manager will invest cash flows from sales (or redemptions) of Fund shares to bring the stock/bond mix back toward the allocation percentages for that S&P 500® Index band. For example, if the S&P 500® Index is in the 2162 band, and the value of the holdings of the stock Portfolio Funds has dropped to 68% of the value of the holdings of all Portfolio Funds, the Investment Manager would invest new cash in the stock Portfolio Funds (or cash for redemptions would come from the bond Portfolio Funds) to restore the 70% stock allocation. If the 31-day Rule is in effect, the Investment Manager will invest new cash at the stock/bond percentage allocation as of the latest rebalancing.

As another illustrative example, suppose the following:

Date Level of the
S&P 500® Index
How the Fund will
invest the Stock/
Bond Assets(1)
Nov. 1 We begin when the market is 2600 50% stocks, 50% bonds
Dec. 1 The S&P 500® goes to 2705 rebalance 45% stocks, 55% bonds
Dec. 6 The S&P 500® drops back to 2590 no reversal for 31 days
Jan. 2 The S&P 500® is at 2600 rebalance 50% stocks, 50% bonds
Jan. 20 The S&P 500 drops to 2460 Rebalance 55% stocks, 45% bonds(2)
Jan. 30 The S&P 500® goes to 2575 no reversal for 31 days
Feb. 20 The S&P 500® is at 2565 rebalance 50% stocks, 50% bonds
(1) For each rebalancing the Fund will trade the underlying stock and bond Portfolio Funds on the next business day.
(2) The market has made a continuation move by going through a second action level, not a reversal move, so the 31-day Rule does not apply in this case.

The Investment Manager chooses the Portfolio Funds to be generally consistent with the composition of the Fund’s primary stock and bond benchmarks and to allow the Fund to participate in strategies the Investment Manager believes can provide additional return due to active management.

The following table shows the stock and bond Portfolio Funds that the Fund currently uses in its "fund-of-funds" structure and the current target percentage for each Portfolio Fund within the stock or bond asset class. As described more fully below, the Investment Manager may substitute or add additional Portfolio Funds at any time, including funds introduced after the date of this prospectus. The target percentage within each asset class category is achieved by rebalancing the investments within the asset class whenever the S&P 500® Index moves into a new band on the allocation table, subject to the 31-day Rule described above. The Fund will not liquidate its investment in one Portfolio Fund in order to invest in another Portfolio Fund except in connection with a rebalancing due to a move of the S&P 500® Index into a new band (or due to a change by the Investment Manager in the Portfolio Funds or to the relative target percentages among them). Until a subsequent rebalancing, the Fund's cash flows are invested in, or redeemed from, the Portfolio Funds in a manner that will reduce any deviation of the relative values of the Fund's holdings of the Portfolio Funds from the percentages shown below.

Allocation of Stock/Bond Asset Within Asset Classes
  Type of Fund Allocation
Stock Funds    
Columbia Acorn® Fund Small/Mid-cap growth 10%
Columbia Acorn International® Small/Mid-cap international growth 10%
Columbia Acorn SelectSM Mid-cap growth 10%
Columbia Contrarian Core Fund Large-cap blend 10%
Columbia Dividend Income Fund Large-cap value 10%
Columbia Large Cap Enhanced Core Fund Large-cap blend 10%
Columbia Large Cap Index Fund Large-cap blend 40%
Total   100%
     
Bond Funds Type of Fund Allocation
Columbia Corporate Income Fund Corporate bond 10%
Columbia Diversified Fixed Income Allocation ETF Beta advantage multi-sector bond 10%
Columbia Inflation Protected Securities Fund Inflation-protected bond 10%
Columbia Quality Income Fund Government bond 20%
Columbia Short Term Bond Fund Short term bond 15%
Columbia U.S. Treasury Index Fund U.S. Treasury notes/bonds 35%
Total   100%

See the Portfolio Funds Summary section of this prospectus for information about the Portfolio Funds' investment objectives and principal investment strategies. Each of the Portfolio Funds is managed by the Investment Manager or its affiliates. The Fund does not pay any sales load on its purchases of shares of the Portfolio Funds.

The Investment Manager has the authority to review the Portfolio Funds and to change the relative percentages among them or to add or eliminate funds. Such review will occur on at least an annual basis and will be reflected in the Portfolio Funds table disclosed in this prospectus.

Determination of Market State

Just as a thermostat may be set at different ranges for different seasons, the Fund’s allocation of assets between stock and bond funds is expected to be set at different range bands depending principally on the Investment Manager’s view of how expensive the equity market is compared to historical levels.

At least annually, the Investment Manager will conduct a review of the current equity market price levels compared to historical price levels, and will determine if the equity market is in an “expensive” state, or a “normal” state. This review will begin with a comparison of the S&P 500® Index’s cyclically adjusted price-to-earnings ratio for the prior seven years against a 40-year history, but the Investment Manager will also take into account additional quantitative or qualitative market factors, including for example, trends in equity price measures and comparisons of equity prices against prices for other asset classes. Based on its determination of the current market state, the Investment Manager will select the form of allocation table to be effective in the Fund’s current prospectus. Also as part of this review, the Investment Manager will update the median historical information used in the table, and the resulting S&P 500® Index levels used to create the bands around the median, regardless of the market state.

As noted below, the form of table used for an “expensive” market is expected to be different from that used for a “normal” market.

Generally, the Investment Manager will determine the current state of the equity market to be “expensive” when its analysis of the S&P 500® Index’s cyclically adjusted price-to-earnings ratio for the prior seven years is within the top quartile of ratio observations over a 40-year history. The “expensive” equity market form of allocation table for the Fund is structured around an implied S&P 500® Index trading range median of 50% stocks/50% bonds (the 50/50 Band), with allocations to bonds decreasing through stratified range bands below the 50/50 Band and allocations to bonds increasing through stratified range bands above the 50/50 Band, as shown by the following example:

“Expensive” Equity Market Form of Stock/Bond Allocation Table
Level of the S&P 500® Index Stock
Percentage
Bond
Percentage
above top of trading range below 10% 90%
4% trading range above top of range below 15% 85%
4% trading range above top of range below 20% 80%
4% trading range above top of range below 25% 75%
4% trading range above top of range below 30% 70%
4% trading range above top of range below 35% 65%
4% trading range above top of range below 40% 60%
4% trading range above top of range below 45% 55%
4% trading range centered on implied median (50/50 Band)* 50% 50%
4% trading range below bottom of range above 55% 45%
4% trading range below bottom of range above 60% 40%
4% trading range below bottom of range above 65% 35%
4% trading range below bottom of range above 70% 30%
4% trading range below bottom of range above 75% 25%
4% trading range below bottom of range above 80% 20%
4% trading range below bottom of range above 85% 15%
below bottom of trading range above 90% 10%

*Implied median price level as calculated by the Investment Manager.

The “expensive” form of table has been in place since the Fund’s inception in 2002.

Generally, the Investment Manager will determine the current state of the equity market to be “normal” when its analysis of the S&P 500® Index’s cyclically adjusted price-to-earnings ratio for the prior seven years is outside the top quartile of ratio observations over a 40-year history. The “normal” equity market form allocation table for the Fund is also structured around the 50/50 Band, with allocations to bonds decreasing through stratified range bands below the 50/50 Band, and allocations to stocks and bonds set at 50% stocks/50% bonds for all trading levels above the 50/50 Band, as shown by the following example:

“Normal” Equity Market Form of Stock/Bond Allocation Table
Level of the S&P 500® Index Stock
Percentage
Bond
Percentage
above trading range that is 2% below implied median (50/50 Band)* 50% 50%
4% trading range below bottom of range above 55% 45%
4% trading range below bottom of range above 60% 40%
4% trading range below bottom of range above 65% 35%
4% trading range below bottom of range above 70% 30%
4% trading range below bottom of range above 75% 25%
4% trading range below bottom of range above 80% 20%
4% trading range below bottom of range above 85% 15%
below bottom of trading range above 90% 10%

*Implied median price level as calculated by the Investment Manager.

The Investment Manager will conduct the market state review at least annually prior to the annual updating of this prospectus, and may, in its discretion, assess the market state on an "emergency" basis and make any changes deemed necessary to reflect, for example, a very significant move in market levels or a structural change affecting the markets.

Any such "emergency" changes by the Investment Manager, which are expected to be infrequent, would be disclosed in this prospectus.
Risk [Heading] rr_RiskHeading <b>Principal Risks </b>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock An investment in the Fund involves risks, including specific risks relating to the investment in the Fund based on its investment process and its "fund-of-funds" structure, as well as specific risks related to the individual Portfolio Funds in which it invests that in the aggregate are principal risks to the Fund, including among others, those described below. More information about the Portfolio Funds, including their principal risks, is available in their prospectuses. This prospectus is not an offer for any of the Portfolio Funds. There is no assurance that the Fund will achieve its investment objective and you may lose money. The value of the Fund’s holdings may decline, and the Fund’s net asset value (NAV) and share price may go down. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

Allocation Risk. The Investment Manager uses an asset allocation strategy in pursuit of its investment objective, there is a risk that the Fund's allocation among asset classes or investments will cause the Fund's shares to lose value or cause the Fund to underperform other funds with similar investment objectives and/or strategies, or that the investments themselves will not produce the returns expected.

Fund-of-Funds Risk. Determinations regarding asset classes or underlying funds and the Fund’s allocations thereto may not successfully achieve the Fund’s investment objective, in whole or in part. The ability of the Fund to realize its investment objective will depend, in large part, on the extent to which the underlying funds realize their investment objective. There is no guarantee that the underlying funds will achieve their respective investment objectives. The Fund is exposed to the same risks as the underlying funds in direct proportion to the allocation of its assets among the underlying funds. By investing in a combination of underlying funds, the Fund has exposure to the risks of many areas of the market. The performance of underlying funds could be adversely affected if other entities that invest in the same underlying funds make relatively large investments or redemptions in such underlying funds. The Fund, and its shareholders, indirectly bear a portion of the expenses of any funds in which the Fund invests. Because the expenses and costs of each underlying fund are shared by its investors, redemptions by other investors in an underlying fund could result in decreased economies of scale and increased operating expenses for such fund. The Investment Manager may have potential conflicts of interest in selecting affiliated funds over unaffiliated funds for investment by the Fund, and may also face potential conflicts of interest in selecting affiliated funds, because the fees the Investment Manager receives from some underlying funds may be higher than the fees paid by other underlying funds. Further, because of the Investment Manager’s confidence in its own strategies, investment philosophy and capacities, it will, in selecting underlying funds, at times prefer a fund in the Columbia Acorn Family of Funds over alternative investments. There can be no assurance, however, that a fund in the Columbia Acorn Family of Funds selected for inclusion in Columbia Thermostat Fund’s portfolio will, in fact, outperform similar funds managed by the Investment Manager’s affiliates.

The Fund is subject indirectly to the risks of the Portfolio Funds described below. Please see the Portfolio Funds Summary for information about which risks apply to which Portfolio Funds.

Market Risk. The market values of securities or other investments that the Fund holds will fall, sometimes rapidly or unpredictably, or fail to rise. An investment in the Fund could lose money over short or long periods.

Interest Rate Risk. Interest rate risk is the risk of losses attributable to changes in interest rates. In general, if prevailing interest rates rise, the values of loans and other debt instruments tend to fall, and if interest rates fall, the values of loans and other debt instruments tend to rise. Changes in the value of a debt instrument usually will not affect the amount of income the Fund receives from it but will generally affect the value of your investment in the Fund. Changes in interest rates may also affect the liquidity of the Fund’s investments in debt instruments. In general, the longer the maturity or duration of a debt instrument, the greater its sensitivity to changes in interest rates. Interest rate declines also may increase prepayments of debt obligations, which, in turn, would increase prepayment risk. Similarly, a period of rising interest rates may negatively impact the Fund’s performance. Actions by governments and central banking authorities can result in increases in interest rates. Such actions may negatively affect the value of debt instruments held by the Fund, resulting in a negative impact on the Fund's performance and NAV. Securities with floating interest rates are typically less sensitive to interest rate changes, but may decline in value if their interest rates do not rise as much as interest rates in general. Because rates on certain floating rate loans and other debt securities reset only periodically, changes in prevailing interest rates (and particularly sudden and significant changes) can be expected to cause fluctuations in the Fund’s NAV. Any interest rate increases could cause the value of the Fund’s investments in debt instruments to decrease. Rising interest rates may prompt redemptions from the Fund, which may force the Fund to sell investments at a time when it is not advantageous to do so, which could result in losses.

Credit Risk. Credit risk is the risk that the value of loans or other debt instruments may decline if the issuer thereof defaults or otherwise becomes unable or unwilling, or is perceived to be unable or unwilling, to honor its financial obligations, such as making payments to the Fund when due. Rating agencies assign credit ratings to certain debt instruments to indicate their credit risk. Unless otherwise provided in the Fund’s Principal Investment Strategies, investment grade debt instruments are those rated at or above BBB- by S&P Global Ratings, or equivalently rated by Moody’s Investors Service, Inc. or Fitch, Inc., or, if unrated, determined by the management team to be of comparable quality. Conversely, below investment grade (commonly called “high-yield” or “junk”) debt instruments are those rated below BBB- by S&P Global Ratings, or equivalently rated by Moody’s Investors Service, Inc. or Fitch, Inc., or, if unrated, determined by the management team to be of comparable quality. A rating downgrade by such agencies can negatively impact the value of such instruments. Lower quality or unrated instruments held by the Fund may present increased credit risk as compared to higher-rated instruments. Non-investment grade debt instruments may be subject to greater price fluctuations and are more likely to experience a default than investment grade debt instruments and therefore may expose the Fund to increased credit risk. If the Fund purchases unrated instruments, or if the ratings of instruments held by the Fund are lowered after purchase, the Fund will depend on analysis of credit risk more heavily than usual.

High-Yield Investments Risk. Securities and other debt instruments held by the Fund that are rated below investment grade (commonly called “high-yield” or “junk” bonds) and unrated debt instruments of comparable quality expose the Fund to a greater risk of loss of principal and income than a fund that invests solely or primarily in investment grade debt instruments. In addition, these investments have greater price fluctuations, are less liquid and are more likely to experience a default than higher-rated debt instruments. High-yield debt instruments are considered to be predominantly speculative with respect to the issuer’s capacity to pay interest and repay principal.

Value Securities Risk. Value securities are securities of companies that may have experienced, for example, adverse business, industry or other developments or may be subject to special risks that have caused the securities to be out of favor and, in turn, potentially undervalued. The market value of a portfolio security may not meet the Portfolio Fund’s Investment Manager’s perceived value assessment of that security, or may decline in price, even though the Portfolio Fund’s Investment Manager believes the securities are already undervalued. There is also a risk that it may take longer than expected for the value of these investments to rise to the portfolio manager’s perceived value. In addition, value securities, at times, may not perform as well as growth securities or the stock market in general, and may be out of favor with investors for varying periods of time.

Growth Securities Risk. Growth securities typically trade at a higher multiple of earnings than other types of equity securities. Accordingly, the market values of growth securities may never reach their expected market value and may decline in price. In addition, growth securities, at times, may not perform as well as value securities or the stock market in general, and may be out of favor with investors for varying periods of time.

Sector Risk. At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business within one or more economic sectors. Companies in the same sector may be similarly affected by economic, regulatory, political or market events or conditions, which may make the Fund more vulnerable to unfavorable developments in that sector than funds that invest more broadly. Generally, the more the Fund diversifies its investments, the more it spreads risk and potentially reduces the risks of loss and volatility.

Foreign Securities Risk. Investments in or exposure to foreign securities involve certain risks not associated with investments in or exposure to securities of U.S. companies. Foreign securities subject the Fund to the risks associated with investing in the particular country of an issuer, including political, regulatory, economic, social, diplomatic and other conditions or events (including, for example, military confrontations, war and terrorism), occurring in the country or region, as well as risks associated with less developed custody and settlement practices. Foreign securities may be more volatile and less liquid than securities of U.S. companies, and are subject to the risks associated with potential imposition of economic and other sanctions against a particular foreign country, its nationals or industries or businesses within the country. In addition, foreign governments may impose withholding or other taxes on the Fund’s income, capital gains or proceeds from the disposition of foreign securities, which could reduce the Fund’s return on such securities.

Operational and Settlement Risks of Foreign Securities. The Fund’s foreign securities are generally held outside the United States in the primary market for the securities in the custody of foreign sub-custodians. Some countries have limited governmental oversight and regulation, which increases the risk of corruption and fraud and the possibility of losses to the Fund. In particular, under certain circumstances, foreign securities may settle on a delayed delivery basis, meaning that the Fund may be required to make payment for securities before the Fund has actually received delivery of the securities or deliver securities prior to the receipt of payment. As a result, there is a risk that the security will not be delivered to the Fund or that payment will not be received. Losses can also result from lost, stolen or counterfeit securities; defaults by brokers and banks; failures or defects of the settlement system; or poor and improper record keeping by registrars and issuers.

Share Blocking. In certain non-U.S. markets, an issuer’s securities are blocked from trading for a specified number of days before and, in certain instances, after a shareholder meeting. The blocking period can last up to several weeks. Share blocking may prevent the Fund from buying or selling securities during this period. As a consequence of these restrictions, the Portfolio Fund's Investment Manager, on behalf of the Fund, may abstain from voting proxies in markets that require share blocking.

Emerging Market Securities Risk. Securities issued by foreign governments or companies in emerging market countries, such as China, Russia and certain countries 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 changes or developments in social, political, economic or other conditions. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity (i.e., lower trading volumes and less liquidity) 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 and have fewer trading partners, which makes them more sensitive to world commodity prices and economic downturns in other countries, and some have a higher risk of currency devaluations.

Operational and Settlement Risks of Securities in Emerging Markets. Foreign sub-custodians in emerging markets may be recently organized, lack extensive operating experience or lack effective government oversight or regulation. In addition, there may be legal restrictions or limitations on the ability of the Fund to recover assets held in custody by a foreign sub-custodian in the event of the bankruptcy of the sub-custodian. There may also be a greater risk that settlement may be delayed and that cash or securities of the Fund may be lost because of failures of or defects in the system, including fraud or corruption. Settlement systems in emerging markets also have a higher risk of failed trades.

Risks Related to Currencies and Corporate Actions in Emerging Markets. Risks related to currencies and corporate actions are also greater in emerging market countries than in developed countries. Emerging market currencies may not have an active trading market and are subject to a higher risk of currency devaluations.

Risks Related to Corporate and Securities Laws in Emerging Markets. Securities laws in emerging markets may be relatively new and unsettled and, consequently, there is a risk of rapid and unpredictable change in laws regarding foreign investment, securities regulation, title to securities and shareholder rights.

Liquidity and Trading Volume Risk. Due to market conditions, including uncertainty regarding the price of a security, it may be difficult for the Fund to buy or sell portfolio securities at a desirable time or price, which could result in investment losses. This risk of portfolio illiquidity is heightened with respect to small- and mid-cap securities, generally, and foreign small- and mid-cap securities in particular. The Fund may have to lower the selling price, liquidate other investments, or forego another, more appealing investment opportunity as a result of illiquidity in the markets. The Fund may also be limited in its ability to execute favorable trades in portfolio securities in response to changes in share prices and fundamentals, and may be forced to dispose of securities under disadvantageous circumstances and at a loss. As the Fund grows in size or, conversely, if it faces significant redemption pressure, these considerations take on increasing significance and may adversely impact performance.

Foreign Currency Risk. The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar, particularly if the Fund invests a significant percentage of its assets in foreign securities or other assets denominated in currencies other than the U.S. dollar.

Issuer Risk. An issuer in which the Fund invests or to which it has exposure may perform poorly, and the value of its securities may therefore decline, which may negatively affect the Fund’s performance. Underperformance may be caused by poor management decisions, competitive pressures, breakthroughs in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent disclosures, natural disasters or other events, conditions or factors.

Investments in larger, more established companies may involve certain risks associated with their larger size. For instance, larger, more established companies may be less able to respond quickly to new competitive challenges, such as changes in consumer tastes or innovation from smaller competitors. Also, larger companies are sometimes less able to attain the high growth rates of successful smaller companies, especially during extended periods of economic expansion.

Small- and Mid-Cap Company Securities Risk. Investments in small- and mid-cap companies often involve greater risks than investments in larger, more established companies because small- and mid-cap companies tend to have less predictable earnings and may lack the management experience, financial resources, product diversification and competitive strengths of larger companies. Securities of small- and mid-cap companies may be less liquid and more volatile than the securities of larger companies.

U.S. Government Obligations Risk. While U.S. Treasury obligations are backed by the “full faith and credit” of the U.S. Government, such securities are nonetheless subject to credit risk (i.e., the risk that the U.S. Government may be, or be perceived to be, unable or unwilling to honor its financial obligations, such as making payments). Securities issued or guaranteed by federal agencies or authorities and U.S. Government-sponsored instrumentalities or enterprises may or may not be backed by the full faith and credit of the U.S. Government.

Derivatives Risk. Derivatives may involve significant risks. Derivatives are financial instruments with a value in relation to, or derived from, the value of an underlying asset(s) or other reference, such as an index, rate or other economic indicator (each an underlying reference). Derivatives may include those that are privately placed or otherwise exempt from SEC registration, including certain Rule 144A eligible securities. Derivatives could result in Fund losses if the underlying reference does not perform as anticipated. Use of derivatives is a highly specialized activity that can involve investment techniques, risks, and tax planning different from those associated with more traditional investment instruments. The Fund’s derivatives strategy may not be successful and use of certain derivatives could result in substantial, potentially unlimited, losses to the Fund regardless of the Fund’s actual investment. A relatively small movement in the price, rate or other economic indicator associated with the underlying reference may result in substantial loss for the Fund. Derivatives may be more volatile than other types of investments. The value of derivatives may be influenced by a variety of factors, including national and international political and economic developments. Potential changes to the regulation of the derivatives markets may make derivatives more costly, may limit the market for derivatives, or may otherwise adversely affect the value or performance of derivatives. Derivatives can increase the Fund’s risk exposure to underlying references and their attendant risks, such as credit risk, market risk, foreign currency risk and interest rate risk, while exposing the Fund to correlation risk, counterparty risk, hedging risk, inflation risk, leverage risk, liquidity risk, pricing risk and volatility risk.

Convertible Securities Risk. Convertible securities are subject to the usual risks associated with debt instruments, such as interest rate risk and credit risk. Convertible securities also react to changes in the value of the common stock into which they convert, and are thus subject to market risk. The Fund may also be forced to convert a convertible security at an inopportune time, which may decrease the Fund’s return.

Forward Commitments on Mortgage-Backed Securities (including Dollar Rolls) Risk. When purchasing mortgage-backed securities in the “to be announced” (TBA) market (MBS TBAs), the seller agrees to deliver mortgage-backed securities for an agreed upon price on an agreed upon date, but may make no guarantee as to the specific securities to be delivered. In lieu of taking delivery of mortgage-backed securities, the Fund could enter into dollar rolls, which are transactions in which the Fund sells securities to a counterparty and simultaneously agrees to purchase those or similar securities in the future at a predetermined price. Dollar rolls involve the risk that the market value of the securities the Fund is obligated to repurchase may decline below the repurchase price, or that the counterparty may default on its obligations. These transactions may also increase the Fund’s portfolio turnover rate. If the Fund reinvests the proceeds of the security sold, the Fund will also be subject to the risk that the investments purchased with such proceeds will decline in value (a form of leverage risk). MBS TBAs and dollar rolls are subject to the risk that the counterparty to the transaction may not perform or be unable to perform in accordance with the terms of the instrument.

Mortgage- and Other Asset-Backed Securities Risk. The value of any mortgage-backed and other asset-backed securities held by the Fund may be affected by, among other things, changes or perceived changes in: interest rates; factors concerning the interests in and structure of the issuer or the originator of the mortgages or other assets; the creditworthiness of the entities that provide any supporting letters of credit, surety bonds or other credit enhancements; or the market's assessment of the quality of underlying assets. Payment of principal and interest on some mortgage-backed securities (but not the market value of the securities themselves) may be guaranteed by the full faith and credit of a particular U.S. Government agency, authority, enterprise or instrumentality, and some, but not all, are also insured or guaranteed by the U.S. Government. Mortgage-backed securities issued by non-governmental issuers (such as commercial banks, savings and loan institutions, private mortgage insurance companies, mortgage bankers and other secondary market issuers) may entail greater risk than obligations guaranteed by the U.S. Government. Mortgage- and other asset-backed securities are subject to liquidity risk and prepayment risk. A decline or flattening of housing values may cause delinquencies in the mortgages (especially sub-prime or non-prime mortgages) underlying mortgage-backed securities and thereby adversely affect the ability of the mortgage-backed securities issuer to make principal and/or interest payments to mortgage-backed securities holders, including the Fund. Rising or high interest rates tend to extend the duration of mortgage- and other asset-backed securities, making their prices more volatile and more sensitive to changes in interest rates.

Stripped Securities Risk. Stripped securities are the separate income or principal components of debt securities. These securities are particularly sensitive to changes in interest rates, and therefore subject to greater fluctuations in price than typical interest bearing debt securities.

Prepayment and Extension Risk. Prepayment and extension risk is the risk that a bond or other security or investment might, in the case of prepayment risk, be called or otherwise converted, prepaid or redeemed before maturity and, in the case of extension risk, that the investment might not be called as expected. In the case of prepayment risk, if the investment is converted, prepaid or redeemed before maturity, the portfolio managers may not be able to invest the proceeds in other investments providing as high a level of income, resulting in a reduced yield to the Fund. In the case of mortgage- or other asset-backed securities, as interest rates decrease or spreads narrow, the likelihood of prepayment increases. Conversely, extension risk is the risk that an unexpected rise in interest rates will extend the life of a mortgage- or other asset-backed security beyond the prepayment time. If the Fund’s investments are locked in at a lower interest rate for a longer period of time, the portfolio managers may be unable to capitalize on securities with higher interest rates or wider spreads.

Reinvestment Risk. Reinvestment risk arises when the Fund is unable to reinvest income or principal at the same return it is currently earning.

Depositary Receipts Risk. Depositary receipts are receipts issued by a bank or trust company reflecting ownership of underlying securities issued by foreign companies. Some foreign securities are traded in the form of American Depositary Receipts and/or Global Depositary Receipts. Depositary receipts involve risks similar to the risks associated with investments in foreign securities, including those associated with investing in the particular country of an issuer, which may be related to the particular political, regulatory, economic, social and other conditions or events, including, for example, military confrontations, war and terrorism, occurring in the country and fluctuations in such country’s currency, as well as market risk tied to the underlying foreign company. In addition, holders of depositary receipts may have limited voting rights, may not have the same rights afforded to stockholders of a typical domestic company in the event of a corporate action, such as an acquisition, merger or rights offering, and may experience difficulty in receiving company stockholder communications. There is no guarantee that a financial institution will continue to sponsor a depositary receipt, or that a depositary receipt will continue to trade on an exchange, either of which could adversely affect the liquidity, availability and pricing of the depositary receipt. Changes in foreign currency exchange rates will affect the value of depositary receipts and, therefore, may affect the value of your investment in the Fund.

Derivatives Risk – Futures Contracts Risk. A futures contract is an exchange-traded derivative transaction between two parties in which a buyer (holding the “long” position) agrees to pay a fixed price (or rate) at a specified future date for delivery of an underlying reference from a seller (holding the “short” position). The seller hopes that the market price on the delivery date is less than the agreed upon price, while the buyer hopes for the contrary. Certain futures contract markets are highly volatile, and futures contracts may be illiquid. Futures exchanges may limit fluctuations in futures contract prices by imposing a maximum permissible daily price movement. The Fund may be disadvantaged if it is prohibited from executing a trade outside the daily permissible price movement. At or prior to maturity of a futures contract, the Fund may enter into an offsetting contract and may incur a loss to the extent there has been adverse movement in futures contract prices. The liquidity of the futures markets depends on participants entering into offsetting transactions rather than making or taking delivery. To the extent participants make or take delivery, liquidity in the futures market could be reduced. Because of the low margin deposits normally required in futures trading, it is possible that the Fund may employ a high degree of leverage in the portfolio. As a result, a relatively small price movement in a futures contract may result in substantial losses to the Fund, exceeding the amount of the margin paid. For certain types of futures contracts, losses are potentially unlimited. Futures markets are highly volatile and the use of futures may increase the volatility of the Fund’s NAV. Futures contracts executed (if any) on foreign exchanges may not provide the same protection as U.S. exchanges. Futures contracts can increase the Fund’s risk exposure to underlying references and their attendant risks, such as credit risk, market risk, foreign currency risk and interest rate risk, while also exposing the Fund to correlation risk, counterparty risk, hedging risk, inflation risk, leverage risk, liquidity risk, pricing risk and volatility risk.

Changing Distribution Level Risk. The Fund will normally receive income which may include interest, dividends and/or capital gains, depending upon its investments. The distribution amount paid by the Fund will vary and generally depends on the amount of income the Fund earns (less expenses) on its portfolio holdings, and capital gains or losses it recognizes. A decline in the Fund’s income or net capital gains arising from its investments may reduce its distribution level.

Rule 144A and Other Exempted Securities Risk. The Fund may invest in privately placed and other securities or instruments exempt from SEC registration (collectively “private placements”), subject to liquidity and other regulatory restrictions. In the U.S. market, private placements are typically sold only to qualified institutional buyers, or qualified purchasers, as applicable. An insufficient number of buyers interested in purchasing private placements at a particular time could adversely affect the marketability of such investments and the Fund might be unable to dispose of them promptly or at reasonable prices, subjecting the Fund to liquidity risk. The Fund may invest in private placements determined to be liquid as well as those determined to be illiquid. Even if determined to be liquid, the Fund’s holdings of private placements may increase the level of Fund illiquidity if eligible buyers are unable or unwilling to purchase them at a particular time. Issuers of Rule 144A eligible securities are required to furnish information to potential investors upon request. However, the required disclosure is much less extensive than that required of public companies and is not publicly available since the offering is not filed with the SEC. Further, issuers of Rule 144A eligible securities can require recipients of the offering information (such as the Fund) to agree contractually to keep the information confidential, which could also adversely affect the Fund’s ability to dispose of the security.

Select Portfolio Risk. Because the Fund may invest in a limited number of companies, the Fund as a whole is subject to greater risk of loss if any of its portfolio securities decline in price. The Fund accordingly may be more susceptible to economic, political and regulatory developments than a fund that invests in a greater number of companies. In addition, the Fund’s holdings and weightings will diverge significantly from its primary benchmark’s holdings and weightings and the Fund may therefore experience greater risk and volatility relative to the benchmark. Because the Fund may invest in more than one company concentrated in a similar industry, sector or geographic region, the Fund may be even more concentrated than the number of companies it may hold would suggest.

Derivatives Risk – Swaps Risk. In a typical swap transaction, two parties agree to exchange the return earned on a specified underlying reference for a fixed return or the return from another underlying reference during a specified period of time. Swaps may be difficult to value and may be illiquid. Swaps could result in Fund losses if the underlying asset or reference does not perform as anticipated. Swaps create significant investment leverage such that a relatively small price movement in a swap may result in immediate and substantial losses to the Fund. The Fund may only close out a swap with its particular counterparty, and may only transfer a position with the consent of that counterparty. Certain swaps, such as short swap transactions and total return swaps, have the potential for unlimited losses, regardless of the size of the initial investment. Swaps can increase the Fund’s risk exposure to underlying references and their attendant risks, such as credit risk, market risk, foreign currency risk and interest rate risk, while also exposing the Fund to correlation risk, counterparty risk, hedging risk, inflation risk, leverage risk, liquidity risk, pricing risk and volatility risk.

Highly Leveraged Transactions Risk. The loans or other debt instruments in which the Fund invests may include highly leveraged transactions whereby the borrower assumes large amounts of debt in order to have the financial resources to attempt to achieve its business objectives. Loans or other debt instruments that are part of highly leveraged transactions involve a greater risk (including default and bankruptcy) than other investments.

Counterparty Risk. Counterparty risk is the risk that a counterparty to a transaction in a financial instrument held by the Fund or by a special purpose or structured vehicle invested in by the Fund may become insolvent or otherwise fail to perform its obligations. As a result, the Fund may obtain no or limited recovery of its investment, and any recovery may be significantly delayed.

Exchange-Traded Fund (ETF) Risk. ETFs are subject to, among other risks, tracking risk and passive and, in some cases, active investment risk. An ETF’s share price may not track its specified market index (if any) and may trade below its NAV. Certain ETFs use a “passive” investment strategy and do not take defensive positions in volatile or declining markets. Other ETFs are actively managed ETFs (i.e., they do not track a particular benchmark), which are subject to active management risk. An active secondary market in ETF shares may not develop or be maintained and may be halted or interrupted due to actions by its listing exchange, unusual market conditions or other reasons. There can be no assurance that an ETF’s shares will continue to be listed on an active exchange. In addition, shareholders bear expenses incurred through ownership of the ETF. There is a risk that ETFs may terminate due to extraordinary events. For example, any of the service providers to ETFs, such as the trustee or sponsor, may close or otherwise fail to perform their obligations to the ETF, and the ETF may not be able to find a substitute service provider. Also, certain ETFs may be dependent upon licenses to use various indexes as a basis for determining their compositions and/or otherwise to use certain trade names. If these licenses are terminated, the ETFs may also terminate. In addition, an ETF may terminate if its net assets fall below a certain amount.

Liquidity Risk. Liquidity risk is the risk associated with any event, circumstance, or characteristic of an investment or market that negatively impacts the Fund’s ability to sell, or realize the proceeds from the sale of, an investment at a desirable time or price. Liquidity risk may arise because of, for example, a lack of marketability of the investment, which means that when seeking to sell its portfolio investments, the Fund could find that selling is more difficult than anticipated, especially during times of high market volatility. Decreases in the number of financial institutions, including banks and broker-dealers, willing to make markets (match up sellers and buyers) in the Fund’s investments or decreases in their capacity or willingness to trade such investments may increase the Fund’s exposure to this risk. The debt market has experienced considerable growth, and financial institutions making markets in instruments purchased and sold by the Fund (e.g., bond dealers) have been subject to increased regulation. The impact of that growth and regulation on the ability and willingness of financial institutions to engage in trading or “making a market” in such instruments remains unsettled. Certain types of investments, such as lower-rated securities or those that are purchased and sold in over-the-counter markets, may be especially subject to liquidity risk. Securities or other assets in which the Fund invests may be traded in the over-the-counter market rather than on an exchange and therefore may be more difficult to purchase or sell at a fair price, which may have a negative impact on the Fund’s performance. Market participants attempting to sell the same or a similar instrument at the same time as the Fund could exacerbate the Fund’s exposure to liquidity risk. The Fund may have to accept a lower selling price for the holding, sell other liquid or more liquid investments that it might otherwise prefer to hold (thereby increasing the proportion of the Fund’s investments in less liquid or illiquid securities), or forego another more appealing investment opportunity.

Certain investments that were liquid when purchased by the Fund may later become illiquid, particularly in times of overall economic distress. Changing regulatory, market or other conditions or environments (for example, the interest rate or credit environments) may also adversely affect the liquidity and the price of the Fund's investments. Judgment plays a larger role in valuing illiquid or less liquid investments as compared to valuing liquid or more liquid investments. Price volatility may be higher for illiquid or less liquid investments as a result of, for example, the relatively less frequent pricing of such securities (as compared to liquid or more liquid investments). Generally, the less liquid the market at the time the Fund sells a portfolio investment, the greater the risk of loss or decline of value to the Fund. Overall market liquidity and other factors can lead to an increase in redemptions, which may negatively impact Fund performance and NAV, including, for example, if the Fund is forced to sell investments in a down market.

Derivatives Risk – Forward Contracts Risk. A forward contract is an over-the-counter derivative transaction between two parties to buy or sell a specified amount of an underlying reference at a specified price (or rate) on a specified date in the future. Forward contracts are negotiated on an individual basis and are not standardized or traded on exchanges. The market for forward contracts is substantially unregulated and can experience lengthy periods of illiquidity, unusually high trading volume and other negative impacts, such as political intervention, which may result in volatility or disruptions in such markets. A relatively small price movement in a forward contract may result in substantial losses to the Fund, exceeding the amount of the margin paid. Forward contracts can increase the Fund’s risk exposure to underlying references and their attendant risks, such as credit risk, market risk, foreign currency risk and interest rate risk, while also exposing the Fund to correlation risk, counterparty risk, hedging risk, inflation risk, leverage risk, liquidity risk, pricing risk and volatility risk.

Frequent Trading Risk. The portfolio managers may actively and frequently trade investments in the Fund's portfolio to carry out its investment strategies. Frequent trading of investments increases the possibility that the Fund, as relevant, will realize taxable capital gains (including short-term capital gains, which are generally taxable to shareholders at higher rates than long-term capital gains for U.S. federal income tax purposes), which could reduce the Fund's after-tax return. Frequent trading can also mean higher brokerage and other transaction costs, which could reduce the Fund's return. The trading costs and tax effects associated with portfolio turnover may adversely affect the Fund’s performance.

Inflation-Protected Securities Risk. Inflation-protected debt securities tend to react to changes in real interest rates (i.e., nominal interest rates minus the expected impact of inflation). In general, the price of such securities falls when real interest rates rise, and rises when real interest rates fall. Interest payments on these securities will vary and may be more volatile than interest paid on ordinary bonds. In periods of deflation, the Fund may have no income at all from such investments.

Leverage Risk. Leverage occurs when the Fund increases its assets available for investment using borrowings, derivatives, or similar instruments or techniques. Use of leverage can produce volatility and may exaggerate changes in the NAV of Fund shares and in the return on the Fund’s portfolio, which may increase the risk that the Fund will lose more than it has invested. If the Fund uses leverage, through the purchase of particular instruments such as derivatives, the Fund may experience capital losses that exceed the net assets of the Fund. Leverage can create an interest expense that may lower the Fund's overall returns. Leverage presents the opportunity for increased net income and capital gains, but may also exaggerate the Fund’s volatility and risk of loss. There can be no guarantee that a leveraging strategy will be successful.

Sovereign Debt Risk. A sovereign debtor’s willingness or ability to repay principal and pay interest in a timely manner may be affected by a variety of factors, including its cash flow situation, the extent of its reserves, the availability of sufficient foreign exchange on the date a payment is due, the relative size of the debt service burden to the economy as a whole, the sovereign debtor’s policy toward international lenders, and the political constraints to which a sovereign debtor may be subject.

The Fund is subject indirectly to the following risks of Portfolio Funds seeking returns that correspond to a stated market index (the Index).

Passive Investment Risk. The Fund is not “actively” managed and may be affected by a general decline in market segments related to its underlying index. The Fund invests in securities or instruments included in, or believed by the Portfolio Fund’s Investment Manager to be representative of, its underlying index, regardless of their investment merits. The Fund does not seek temporary defensive positions when markets decline or appear overvalued.

Index Fund Risk. An index fund seeks to track the performance of the Index by using indexing strategies and, therefore, would not necessarily sell a security because the security’s issuer was in financial trouble or defaulted, or whose credit rating was downgraded, unless that security was removed from the Index. The decision of whether to remove a security from an index is made by an independent index provider who is not affiliated with the Fund or the Investment Manager or its affiliates.

Index Methodology Risk. An index fund seeks performance that corresponds to the performance of the Index. There is no guarantee or assurance that the Index will achieve high, or even positive, returns. The Index may underperform more traditional indices. The Fund could lose value while other indices or measures of market performance increase in value or performance. In addition, the Fund may be subject to the risk that the index provider may not follow its stated methodology for construction of the Index and/or achieve the index provider’s intended performance objective. Errors may result in a negative performance impact to the Fund and its shareholders.

Correlation/Tracking Error Risk. An index fund’s value will generally decline when the performance of the Index declines. A number of factors may affect the Fund’s ability to achieve a high degree of correlation with the Index, and there is no guarantee that the Fund will achieve a high degree of correlation. Failure to achieve such degree of correlation may prevent the Fund from achieving its investment objective. The factors that may adversely affect the Fund’s correlation with the Index include the size of the Fund’s portfolio, fees, expenses, transaction costs, income items, valuation methodology, accounting standards, the effectiveness of sampling techniques (if applicable), changes in the Index and disruptions or illiquidity in the markets for the securities in which the Fund invests. While the Fund typically attempts to track the performance of the Index by investing all, or substantially all, of its assets in the securities that make up the Index in approximately the same proportion as their weighting in the Index, at times, the Fund may not have investment exposure to all securities in the Index, or its weighting of investment exposure to securities may be different from that of the Index. In addition, the Fund may invest in securities not included in the Index. The Fund may take or refrain from taking investment positions for various reasons, such as tax efficiency purposes, or to comply with regulatory restrictions, which may negatively affect the Fund’s correlation with the Index. The Fund may also be subject to large movements of assets into and out of the Fund, potentially resulting in the Fund being over- or under-exposed to certain securities comprising the Index and may be impacted by Index reconstitutions and Index rebalancing events. Holding cash balances may detract from the Fund’s ability to track the Index. In addition, the Fund’s NAV may deviate from the Index if the Fund fair values a portfolio security at a price other than the price used by the Index for that security. The Fund also bears management and other expenses and transaction costs in trading securities, which the Index does not bear. Accordingly, the Fund’s performance will likely fail to match the performance of the Index, after taking expenses into account. Any of these factors could decrease correlation between the performance of the Fund and the Index and may hinder the Fund’s ability to meet its investment objective. It is not possible to invest directly in an index.

New Fund Risk. Columbia Diversified Fixed Income Allocation ETF is a recently-formed Fund. Accordingly, investors in the Fund bear the risk that the Fund may not be successful in implementing its investment strategy of replicating the Index, which could result in the Fund being liquidated at any time without shareholder approval and/or at a time that may not be favorable for shareholders. Such a liquidation could have negative tax consequences for shareholders.
Risk Lose Money [Text] rr_RiskLoseMoney There is no assurance that the Fund will achieve its investment objective and you may lose money.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>Performance Information </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund’s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund’s returns for the periods shown with those of two broad-based indexes: the S&P 500® Index, the Fund’s primary benchmark for equity securities, and the Bloomberg Barclays U.S. Aggregate Bond Index, the Fund’s primary benchmark for debt securities. The table below also compares the Fund's returns with a secondary, custom index, the Blended Benchmark. The S&P 500® Index tracks the performance of 500 widely held, large-capitalization U.S. stocks. The Bloomberg Barclays U.S. Aggregate Bond Index is a market value-weighted index that tracks the daily price, coupon, pay-downs, and total return performance of fixed-rate, publicly placed, dollar-denominated, and non-convertible investment grade debt issues with at least $250 million par amount outstanding and with at least one year to final maturity.  The Blended Benchmark was established by the Investment Manager to show how the Fund’s performance compares to an equally weighted custom composite of the Fund’s primary equity and primary debt benchmarks, the S&P 500® Index and the Bloomberg Barclays U.S. Aggregate Bond Index, respectively. The percentage of the Fund’s assets allocated to underlying stock and bond Portfolio Funds will vary, and accordingly the composition of the Fund’s portfolio will not always reflect the composition of the Blended Benchmark.

The performance of one or more share classes shown in the Average Annual Total Returns table below includes the Fund’s Class Inst share returns (adjusted to reflect the higher class-related operating expenses of such classes, where applicable) for periods prior to the indicated inception date of such share classes. Except for differences in fees and expenses, all share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities.

The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. Your actual after-tax returns will depend on your personal tax situation and may differ from those shown in the table. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class Inst shares and will vary for other share classes. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares.

The Fund’s performance prior to May 2018 reflects returns achieved following a principal investment strategy with a single form of allocation table. While the Fund now follows a principal investment strategy with two potential forms of allocation table, as described above in the Principal Investment Strategies section, the form of the Fund’s currently effective allocation table has been in place since the Fund’s inception in 2002. The Fund's performance prior to May 2018 reflects the current form of allocation table.

The Fund’s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future. Updated performance information can be obtained by calling toll-free 800.345.6611 or visiting columbiathreadneedleus.com.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund’s Class Inst share performance has varied for each full calendar year shown. The table below the bar chart compares the Fund’s returns for the periods shown with those of two broad-based indexes: the S&P 500<sup>®</sup> Index, the Fund’s primary benchmark for equity securities, and the Bloomberg Barclays U.S. Aggregate Bond Index, the Fund’s primary benchmark for debt securities. The table below also compares the Fund's returns with a secondary, custom index, the Blended Benchmark.
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex The Blended Benchmark was established by the Investment Manager to show how the Fund’s performance compares to an equally weighted custom composite of the Fund’s primary equity and primary debt benchmarks, the S&P 500<sup>®</sup> Index and the Bloomberg Barclays U.S. Aggregate Bond Index, respectively. The percentage of the Fund’s assets allocated to underlying stock and bond Portfolio Funds will vary, and accordingly the composition of the Fund’s portfolio will not always reflect the composition of the Blended Benchmark.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800.345.6611
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress columbiathreadneedleus.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture <b>The Fund’s past performance (before and after taxes) is no guarantee of how the Fund will perform in the future.</b>
Bar Chart [Heading] rr_BarChartHeading <b>Year by Year Total Return (%)<br/> as of December 31 Each Year</b>
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock Best and Worst Quarterly Returns
During the Period Shown in the Bar Chart


Best                                                     2nd Quarter 2009                                                      19.33%

Worst                                                   1st Quarter 2009                                                     -9.77%
Performance Table Heading rr_PerformanceTableHeading <b>Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2018) </b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate The after-tax returns shown in the Average Annual Total Returns table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs).
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown The after-tax returns are shown only for Class Inst shares and will vary for other share classes.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares.
Columbia Thermostat Fund | Class A  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther 1.00% [1]
Management fees rr_ManagementFeesOverAssets 0.10%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other expenses rr_OtherExpensesOverAssets 0.21% [2]
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.40%
Total annual Fund operating expenses rr_ExpensesOverAssets 0.96% [3]
Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.06%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 0.90%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions.
1 year rr_ExpenseExampleYear01 $ 662
3 years rr_ExpenseExampleYear03 858
5 years rr_ExpenseExampleYear05 1,070
10 years rr_ExpenseExampleYear10 1,680
1 year rr_ExpenseExampleNoRedemptionYear01 662
3 years rr_ExpenseExampleNoRedemptionYear03 858
5 years rr_ExpenseExampleNoRedemptionYear05 1,070
10 years rr_ExpenseExampleNoRedemptionYear10 $ 1,680
1 Year rr_AverageAnnualReturnYear01 (5.86%)
5 Years rr_AverageAnnualReturnYear05 1.74%
10 Years rr_AverageAnnualReturnYear10 8.12%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Mar. 03, 2003
Columbia Thermostat Fund | Class Adv  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.10%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.21% [2]
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.40%
Total annual Fund operating expenses rr_ExpensesOverAssets 0.71% [3]
Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.06%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 0.65%
1 year rr_ExpenseExampleYear01 $ 66
3 years rr_ExpenseExampleYear03 221
5 years rr_ExpenseExampleYear05 389
10 years rr_ExpenseExampleYear10 877
1 year rr_ExpenseExampleNoRedemptionYear01 66
3 years rr_ExpenseExampleNoRedemptionYear03 221
5 years rr_ExpenseExampleNoRedemptionYear05 389
10 years rr_ExpenseExampleNoRedemptionYear10 $ 877
1 Year rr_AverageAnnualReturnYear01 0.12%
5 Years rr_AverageAnnualReturnYear05 3.22%
10 Years rr_AverageAnnualReturnYear10 9.03%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Nov. 08, 2012
Columbia Thermostat Fund | Class C  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther 1.00% [5]
Management fees rr_ManagementFeesOverAssets 0.10%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other expenses rr_OtherExpensesOverAssets 0.21% [2]
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.40%
Total annual Fund operating expenses rr_ExpensesOverAssets 1.71% [3]
Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.06%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 1.65%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock This charge applies to redemptions within 12 months after purchase, with certain limited exceptions.
1 year rr_ExpenseExampleYear01 $ 268
3 years rr_ExpenseExampleYear03 533
5 years rr_ExpenseExampleYear05 923
10 years rr_ExpenseExampleYear10 2,014
1 year rr_ExpenseExampleNoRedemptionYear01 168
3 years rr_ExpenseExampleNoRedemptionYear03 533
5 years rr_ExpenseExampleNoRedemptionYear05 923
10 years rr_ExpenseExampleNoRedemptionYear10 $ 2,014
1 Year rr_AverageAnnualReturnYear01 (1.83%)
5 Years rr_AverageAnnualReturnYear05 2.19%
10 Years rr_AverageAnnualReturnYear10 7.95%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Mar. 03, 2003
Columbia Thermostat Fund | Class Inst  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.10%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.21% [2]
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.40%
Total annual Fund operating expenses rr_ExpensesOverAssets 0.71% [3]
Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.06%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 0.65%
1 year rr_ExpenseExampleYear01 $ 66
3 years rr_ExpenseExampleYear03 221
5 years rr_ExpenseExampleYear05 389
10 years rr_ExpenseExampleYear10 877
1 year rr_ExpenseExampleNoRedemptionYear01 66
3 years rr_ExpenseExampleNoRedemptionYear03 221
5 years rr_ExpenseExampleNoRedemptionYear05 389
10 years rr_ExpenseExampleNoRedemptionYear10 $ 877
2009 rr_AnnualReturn2009 32.29% [6]
2010 rr_AnnualReturn2010 17.58% [6]
2011 rr_AnnualReturn2011 4.85% [6]
2012 rr_AnnualReturn2012 13.69% [6]
2013 rr_AnnualReturn2013 9.30% [6]
2014 rr_AnnualReturn2014 5.57% [6]
2015 rr_AnnualReturn2015 0.33% [6]
2016 rr_AnnualReturn2016 4.72% [6]
2017 rr_AnnualReturn2017 5.52% [6]
2018 rr_AnnualReturn2018 0.12% [6]
Year to Date Return, Label rr_YearToDateReturnLabel Year to Date return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2019
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 6.01%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 19.33%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Mar. 31, 2009
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (9.77%)
1 Year rr_AverageAnnualReturnYear01 0.12%
5 Years rr_AverageAnnualReturnYear05 3.22%
10 Years rr_AverageAnnualReturnYear10 9.04%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Sep. 25, 2002
Columbia Thermostat Fund | Class Inst2  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.10%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.17% [2]
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.40%
Total annual Fund operating expenses rr_ExpensesOverAssets 0.67% [3]
Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.06%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 0.61%
1 year rr_ExpenseExampleYear01 $ 62
3 years rr_ExpenseExampleYear03 208
5 years rr_ExpenseExampleYear05 367
10 years rr_ExpenseExampleYear10 829
1 year rr_ExpenseExampleNoRedemptionYear01 62
3 years rr_ExpenseExampleNoRedemptionYear03 208
5 years rr_ExpenseExampleNoRedemptionYear05 367
10 years rr_ExpenseExampleNoRedemptionYear10 $ 829
1 Year rr_AverageAnnualReturnYear01 0.16%
5 Years rr_AverageAnnualReturnYear05 3.25%
10 Years rr_AverageAnnualReturnYear10 9.05%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Nov. 08, 2012
Columbia Thermostat Fund | Class Inst3  
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 current net asset value) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.10%
Distribution and/or service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.13% [2]
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.40%
Total annual Fund operating expenses rr_ExpensesOverAssets 0.63% [3]
Fee waivers and/or expense reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.06%) [4]
Total annual Fund operating expenses after fee waivers and/or expense reimbursements rr_NetExpensesOverAssets 0.57%
1 year rr_ExpenseExampleYear01 $ 58
3 years rr_ExpenseExampleYear03 196
5 years rr_ExpenseExampleYear05 345
10 years rr_ExpenseExampleYear10 781
1 year rr_ExpenseExampleNoRedemptionYear01 58
3 years rr_ExpenseExampleNoRedemptionYear03 196
5 years rr_ExpenseExampleNoRedemptionYear05 345
10 years rr_ExpenseExampleNoRedemptionYear10 $ 781
1 Year rr_AverageAnnualReturnYear01 0.21%
5 Years rr_AverageAnnualReturnYear05 3.29%
10 Years rr_AverageAnnualReturnYear10 9.08%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Nov. 08, 2012
Columbia Thermostat Fund | returns after taxes on distributions | Class Inst  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (1.69%)
5 Years rr_AverageAnnualReturnYear05 1.74%
10 Years rr_AverageAnnualReturnYear10 7.84%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Sep. 25, 2002
Columbia Thermostat Fund | returns after taxes on distributions and sale of Fund shares | Class Inst  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.53%
5 Years rr_AverageAnnualReturnYear05 2.00%
10 Years rr_AverageAnnualReturnYear10 7.02%
Share Class Inception Date rr_AverageAnnualReturnInceptionDate Sep. 25, 2002
Columbia Thermostat Fund | Blended Benchmark (Secondary Benchmark; an equally weighted custom composite of the Fund's primary benchmarks for equity and debt securities, established by the Investment Manager; reflects no deductions for fees, expenses or taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (1.90%)
5 Years rr_AverageAnnualReturnYear05 5.65%
10 Years rr_AverageAnnualReturnYear10 8.46%
Columbia Thermostat Fund | S&P 500® Index (Primary Equity Benchmark; reflects no deductions for fees, expenses or taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (4.38%)
5 Years rr_AverageAnnualReturnYear05 8.49%
10 Years rr_AverageAnnualReturnYear10 13.12%
Columbia Thermostat Fund | Bloomberg Barclays U.S. Aggregate Bond Index (Primary Debt Benchmark; reflects no deductions for fees, expenses or taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.01%
5 Years rr_AverageAnnualReturnYear05 2.52%
10 Years rr_AverageAnnualReturnYear10 3.48%
[1] This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions.
[2] Other expenses have been restated to reflect current transfer agency fees paid by the Fund.
[3] “Total annual Fund operating expenses” include acquired fund (Portfolio Fund) fees and expenses (expenses the Fund incurs indirectly through its investments in other funds) and may be higher than the ratio of expenses to average net assets shown in the Financial Highlights section of this prospectus because the ratio of expenses to average net assets does not include Portfolio Fund (acquired fund) fees and expenses.
[4] Columbia Wanger Asset Management, LLC (the Investment Manager) has contractually agreed to waive fees and reimburse certain expenses of the Fund, through April 30, 2020, so that ordinary operating expenses (excluding transaction costs and certain other investment-related expenses, interest and fees on borrowings and expenses associated with the Fund’s investment in other investment companies, including the Portfolio Funds) do not exceed the annual rates of 0.50% for Class A shares, 0.25% for Class Adv shares, 1.25% for Class C shares, 0.25% for Class Inst shares, 0.21% for Class Inst2 shares and 0.17% for Class Inst3 shares. This arrangement may only be amended or terminated with approval from the Fund's Board of Trustees and the Investment Manager.
[5] This charge applies to redemptions within 12 months after purchase, with certain limited exceptions.
[6] Year to Date return as of March 31, 2019: 6.01%
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Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName COLUMBIA ACORN TRUST
Prospectus Date rr_ProspectusDate May 01, 2019
Document Creation Date dei_DocumentCreationDate Apr. 30, 2019
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