-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, UnrK07dCIuzYL8LEX+aPXntLyaZeXDiQbCLMfnZUWmaD8CvwcN9UvGzQJFizl17v CCuMrVMTSqmLuOUdEc7V+w== 0000891804-05-000973.txt : 20050318 0000891804-05-000973.hdr.sgml : 20050318 20050318120300 ACCESSION NUMBER: 0000891804-05-000973 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20050318 DATE AS OF CHANGE: 20050318 EFFECTIVENESS DATE: 20050318 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WANGER ADVISORS TRUST CENTRAL INDEX KEY: 0000929521 IRS NUMBER: 362692100 STATE OF INCORPORATION: IL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-83548 FILM NUMBER: 05690873 BUSINESS ADDRESS: STREET 1: 227 WEST MONROE STREET STE 3000 CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 3126349200 MAIL ADDRESS: STREET 1: 227 WEST MONROE STREET STE 3000 CITY: CHICAGO STATE: IL ZIP: 60606-5016 497 1 file002.txt WANGER ADVISORS TRUST WANGER ADVISORS TRUST WANGER INTERNATIONAL SMALL CAP Supplement dated March 18, 2005 to the Prospectus dated May 1, 2004 Effective immediately, the information in the charts under the heading "The Fund--Fees and Expenses" is being replaced in its entirety with the following: FEES AND EXPENSES - ------------------------------------------------------------------------------- This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund, not including fees and expenses of your VA contract, VLI policy or Retirement Plan. SHAREHOLDER TRANSACTION EXPENSES Fees paid directly from your investment: Maximum sales charge None Deferred sales charge None ANNUAL FUND OPERATING EXPENSES Expenses that are deducted from Fund assets: Management fees(1) 1.01% 12b-1 fee None Other expenses 0.19% - ------------------------------------------------------------ Total annual Fund operating expenses 1.20% (1) Management fees have been restated to reflect contractual changes to the management fee for the Fund as of February 10, 2005. Previously, the Adviser had waived a portion of its fees so that those fees were retained at the following rates: 1.15% of net assets up to $100 million; 1.00% of the next $150 million; and 0.95% of net assets in excess of $250 million. The fee waiver was effective as of February 10, 2005 but applied as if it had gone into effect on December 1, 2004. If the fee waiver had not been implemented as noted above, actual expenses of the Fund would be as follows: management fee, 1.17%; other expenses, 0.19%; and total operating expenses, 1.36%. EXAMPLE This example is intended to help you compare the cost of investment in the Fund with the cost of investing in other mutual funds. It assumes a $10,000 investment in Wanger International Small Cap for the time periods indicated, a 5% total return each year, reinvestment of all dividends and distributions, and that operating expenses remain the same. Your actual returns and costs may be higher or lower. 1 Year $122 3 Years $381 5 Years $660 10 Years $1,455 ACN-36/869U-0305 WANGER ADVISORS TRUST WANGER SELECT Supplement dated March 18, 2005 to the Prospectus dated May 1, 2004 Effective immediately, the information in the charts under the heading "The Fund--Fees and Expenses" is being replaced in its entirety with the following: FEES AND EXPENSES - ------------------------------------------------------------------------------- This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund, not including fees and expenses of your VA contract, VLI policy or Retirement Plan. SHAREHOLDER TRANSACTION EXPENSES Fees paid directly from your investment: Maximum sales charge None Deferred sales charge None ANNUAL FUND OPERATING EXPENSES Expenses that are deducted from Fund assets: Management fees(1) 0.85% 12b-1 fee None Other expenses 0.15% - ------------------------------------------------------------ Total annual Fund operating expenses(2) 1.00% (1) Management fees have been restated to reflect contractual changes to the management fee for the Fund as of February 10, 2005. Previously, the Adviser had waived a portion of its fees so that those fees were retained at the following rate: 0.85%. The fee waiver was effective as of February 10, 2005 but applied as if it had gone into effect on December 1, 2004. If the fee waiver had not been implemented as noted above, actual expenses of the Fund would be as follows: management fee, 0.95%; other expenses, 0.15%; and total operating expenses, 1.10%. (2) CWAM has undertaken to limit Wanger Select's annual expenses to 1.35% of its average net assets. This expense limitation is contractual and will terminate on April 30, 2006. EXAMPLE This example is intended to help you compare the cost of investment in the Fund with the cost of investing in other mutual funds. It assumes a $10,000 investment in Wanger Select for the time periods indicated, a 5% total return each year, reinvestment of all dividends and distributions, and that operating expenses remain the same. Your actual returns and costs may be higher or lower. This example does not include the effect of CWAM's undertaking to limit the Fund's expenses. 1 Year $102 3 Years $381 5 Years $552 10 Years $1,225 ACN-36/870U-0305 WANGER ADVISORS TRUST WANGER U.S. SMALLER COMPANIES WANGER INTERNATIONAL SMALL CAP WANGER SELECT WANGER INTERNATIONAL SELECT Supplement dated March 18, 2005 to the Statement of Additional Information dated May 1, 2004 The Trust's Amended and Restated Investment Advisory Agreement with Columbia Wanger Asset Management, L.P. ("CWAM") has been amended so that, as of February 10, 2005, the fees payable thereunder are paid at the following reduced rates:
- ----------------------------------------------- -------------------- ----------------------------------------------- NAME OF FUND ANNUAL FEE RATE NET ASSETS - ----------------------------------------------- -------------------- ----------------------------------------------- Wanger U.S. Smaller Companies 0.990% Up to $100 million 0.940% $100 million to $250 million 0.890% $250 million and over - ----------------------------------------------- -------------------- ----------------------------------------------- Wanger International 1.150% Up to $100 million Small Cap 1.000% $100 million to $250 million 0.950% $250 million and over - ----------------------------------------------- -------------------- ----------------------------------------------- Wanger Select 0.850% All - ----------------------------------------------- -------------------- ----------------------------------------------- Wanger International Select 0.990% All - ----------------------------------------------- -------------------- -----------------------------------------------
Previously, CWAM had waived a portion of its fees, so that it retained fees at the rates shown above. This fee waiver was effective as of February 10, 2005 but applied as if the fee waiver had gone into effect on December 1, 2004. ACN-35/871U-0305 -----END PRIVACY-ENHANCED MESSAGE-----