Supplement dated February 9, 2023
to the Prospectus, Summary Prospectus, and Statement of
Additional Information (SAI), each as supplemented, of
the following
fund (the Fund):
Fund
|
Prospectus,
Summary Prospectus and SAI Dated |
Wanger
Advisors Trust |
|
Wanger
Select |
May 1,
2022 |
Effective February 10, 2023
(the Effective Date), the portfolio manager information under the caption “Fund Management” in the Summary Prospectus and in the "Summary of the Fund" section of the Prospectus is hereby superseded and replaced with
the following:
Portfolio
Management |
|
Title
|
|
Role
with Fund |
|
Service
with the Fund Since |
Erika
K. Maschmeyer, CFA |
|
Director
of Research (U.S.), Portfolio Manager and Analyst |
|
Lead
Portfolio Manager since February 2023 |
|
2016
|
John
L. Emerson, CFA |
|
Portfolio
Manager and Analyst |
|
Portfolio
Manager since April 2021 |
|
2003
|
On the Effective Date, the
information under the "Primary Service Provider Contracts" caption in the "More Information About the Fund" section of the Prospectus is hereby revised to remove the fifth and sixth paragraphs under the sub-caption "The Investment Manager" and is
further revised to supersede and replace the information under the sub-caption "Portfolio Managers" with the following:
Portfolio
Management |
|
Title
|
|
Role
with Fund |
|
Service
with the Fund Since |
Erika
K. Maschmeyer, CFA |
|
Director
of Research (U.S.), Portfolio Manager and Analyst |
|
Lead
Portfolio Manager since February 2023 |
|
2016
|
John
L. Emerson, CFA |
|
Portfolio
Manager and Analyst |
|
Portfolio
Manager since April 2021 |
|
2003
|
Ms. Maschmeyer has been associated with the Investment Manager as an investment professional since 2016. Ms. Maschmeyer heads the Investment Manager's U.S. equity research efforts and has been a Vice President of the Trust since
March 2020. Prior to joining the Investment Manager, Ms. Maschmeyer was a research analyst at an investment advisory firm where she was responsible for U.S. consumer discretionary/staples investments. Ms. Maschmeyer began her investment career in
2001 and earned a B.A. from Denison University and an M.B.A from the University of Chicago.
Mr. Emerson has been
associated with the Investment Manager or its predecessors as an investment professional since 2003 and has been a Vice President of the Trust since March 2020. Prior to joining the Investment Manager, Mr. Emerson was an analyst at an equity
research firm. Mr. Emerson began his investment career in 2002 and earned a B.S. from the University of Missouri and an M.B.A from the University of Chicago.
The rest of the Prospectus and Summary Prospectus remain
unchanged.
On the Effective Date, all references to
Daniel Cole in the SAI are hereby removed. The rest of the SAI remains unchanged.
Shareholders should retain this Supplement for future
reference.