0001193125-22-036120.txt : 20220211 0001193125-22-036120.hdr.sgml : 20220211 20220211103253 ACCESSION NUMBER: 0001193125-22-036120 CONFORMED SUBMISSION TYPE: 497K PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20220211 DATE AS OF CHANGE: 20220211 EFFECTIVENESS DATE: 20220211 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: 497K SEC ACT: 1933 Act SEC FILE NUMBER: 002-34223 FILM NUMBER: 22617514 BUSINESS ADDRESS: STREET 1: 71 S. WACKER DRIVE, SUITE 2500 CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 3126349200 MAIL ADDRESS: STREET 1: 71 S. WACKER DRIVE, SUITE 2500 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 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 497K 1 d243005d497k.htm COLUMBIA ACORN TRUST Columbia Acorn Trust
Supplement dated February 11, 2022
to the Prospectus and Summary Prospectus, as supplemented, of the following Fund:
Fund Prospectus and Summary Prospectus Dated
Columbia Acorn Trust  
 Columbia Acorn USA May 1, 2021
In February 2022, the Fund's Board of Trustees approved certain Fund changes to become effective May 1, 2022 (the Effective Date), including an increase in the market capitalization range of the companies in which the Fund invests a majority of its assets and a corresponding change in the Fund's primary benchmark. Accordingly, on the Effective Date, the Fund's Prospectus and Summary Prospectus will be revised as described below. The changes are being made in advance of a likely future proposal to merge the Fund with and into Columbia Acorn Fund. Portfolio trading to implement the Fund changes beginning on or about the Effective Date may result in higher portfolio turnover, which could have tax implications for shareholders holding Fund shares in a taxable account.
1. The second and third paragraphs under the heading "Principal Investment Strategies" in the Summary Prospectus and in the "Summary of the Fund" and "More Information About the Fund" sections of the Prospectus will be superseded and replaced with the following: 
Under normal circumstances, the Fund invests a majority of its net assets in the common stock of small- and mid-sized companies with market capitalizations generally in the range of market capitalizations in the Russell 2500 Growth Index, the Fund's benchmark, (the Index) at the time of purchase (between $31.6 million and $35.3 billion as of December 31, 2021). The market capitalization range and composition of companies in the Index are subject to change. As such, the size of the companies in which the Fund invests may change. The Fund determines a company’s market capitalization at the time of investment. The Fund may continue to hold and make new investments in a security even if the company’s market capitalization grows beyond the market capitalization of the largest company within the Index or falls below the market capitalization of the smallest company within the Index.
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) and in emerging markets (for example, China, India and Brazil). The Investment Manager from time to time emphasizes one or more sectors in selecting the Fund’s investments.
The rest of each section will remain unchanged.
2. The information under the heading "Principal Risks" in the Summary Prospectus and in the "Summary of the Fund" and "More Information About the Fund" sections of the Prospectus will be revised to delete Depositary Receipts Risk. The rest of each section will remain unchanged. 
3. The information under the heading "Performance Information" in the Summary Prospectus and in the "Summary of the Fund" section of the Prospectus will be revised to add the following: 
Effective May 1, 2022, the Fund compares its performance to that of the Russell 2500 Growth Index (the New Index). Prior to this date, the Fund compared its performance to that of the Russell 2000 Growth Index (the Former Index). The Fund changed its primary benchmark in connection with Board-approved changes to its principal investment strategies that became effective May 1, 2022.  The Investment Manager believes that the New Index provides a more appropriate comparison than the Former Index for investors measuring the Fund's relative performance. Information on the Former Index also will be shown for a one-year transition period.
The Fund’s performance prior to May 1, 2022 reflects returns achieved pursuant to a strategy with a different market capitalization limit on the companies in which the Fund invests a majority of its assets. If the Fund's current strategies had been in place for the prior periods, results shown would have been different.
The rest of the section will remain unchanged.
4. The portfolio manager information under the heading "Fund Management" in the Summary Prospectus and in the "Summary of the Fund" section of the Prospectus will be revised to add the following: 
    
Portfolio Manager   Title   Role with Fund   Service with the Fund Since
Daniel Cole, CFA   Senior Portfolio Manager of Columbia Management Investment Advisers, LLC and Vice President of the Investment Manager   Co-Portfolio Manager since May 2022   May 2022
The rest of the section will remain unchanged.
SUP115_12_008_(02/22)

 

5. The information under the heading “Primary Service Providers – The Investment Manager” in the “More Information About the Fund" section of the Prospectus will be revised to add the following:
In February 2022, the Board approved a reduction in the advisory fee rates payable to the Investment Manager by the Fund. The new advisory fee, which is effective May 1, 2022, is equal to a percentage of the Fund’s average daily net assets equal to 0.740% on the first $700 million, 0.690% from $700 million to $2 billion, 0.640% from $2 billion to $6 billion, and 0.630% for $6 billion and over.
The Investment Manager and its investment advisory affiliates, including Columbia Management (Affiliates), around the world may coordinate in providing services to their clients. From time to time, the Investment Manager may engage its Affiliates to provide a variety of services such as investment research, investment monitoring, trading, and discretionary investment management (including portfolio management) to certain accounts managed by the Investment Manager, including the Fund. These Affiliates will provide services to these accounts of the Investment Manager either pursuant to delegation agreements, personnel-sharing agreements or similar inter-company or other arrangements or relationships and the Fund will pay no additional fees and expenses as a result of any such arrangements or relationships. These Affiliates, like the Investment Manager, are direct or indirect subsidiaries of Ameriprise Financial and are registered with the appropriate respective regulators and, where required, the SEC and the Commodity Futures Trading Commission in the United States.
Pursuant to some of these arrangements or relationships, certain personnel of Columbia Management and other Affiliates may serve as “associated persons” or officers of the Investment Manager and, in this capacity, subject to the oversight and supervision of the Investment Manager and consistent with the investment objectives, policies and limitations set forth in this prospectus and the Fund's SAI, and with the Investment Manager’s and the Funds’ compliance policies and procedures, may provide such services to the Fund.
The rest of the section will remain unchanged.
6. The information about the portfolio managers under the heading “Primary Service Providers - Portfolio Managers” in the “More Information About the Fund" section of the Prospectus will be revised to add the following:
    
Portfolio Manager   Title   Role with Fund   Service with the Fund Since
Daniel Cole, CFA   Senior Portfolio Manager of Columbia Management Investment Advisers, LLC and Vice President of the Investment Manager   Co-Portfolio Manager since May 2022   May 2022
Mr. Cole joined Columbia Management, an affiliate of the Investment Manager, in 2014 and has served as a Vice President of the Investment Manager since April 2021. Mr. Cole began his investment career in 1993 and earned a B.S. from Guilford College and an M.B.A. in finance from Virginia Polytechnic Institute and State University.
The rest of the section will remain unchanged.
Shareholders should retain this Supplement for future reference.
2
SUP115_12_008_(02/22)