Columbia Threadneedle Investments today announced that the Columbia Select Mid Cap Value Fund has reached its 20-year anniversary. The five-star Morningstar-rated fund is ranked in the top quartile for the three-, five- and 10-year time periods, ending November 30, 2021. Additionally, the Columbia Select Mid Cap Value Fund received a Lipper Fund Award for its three-year performance, ending December 31, 2020. ¹

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Kari Montanus, Lead Portfolio Manager, Columbia Select Mid Cap Value Fund (Photo: Business Wire)

The Columbia Select Mid Cap Value Fund aims to deliver long-term outperformance by investing in underappreciated companies that can show accelerating earnings growth. With three decades of investment management experience each, lead portfolio manager Kari Montanus and co-portfolio manager Jonas Patrikson use a high-conviction, bottom-up approach when selecting securities for the fund. They look for cheap, out-of-favor companies in which they can identify a catalyst for change. Montanus has been lead portfolio manager of the Columbia Select Mid Cap Value Fund since May 2018.

“We believe that mid cap value is the ‘sweet spot’ of the market currently. This overlooked asset class can be a source of diversification for investors, as it offers exposure to areas of the economy likely to benefit from more persistent inflation and the reopening of the economy. Currently, we are finding opportunities in energy, consumer discretionary, technology and real estate sectors which we feel will benefit from the current economic backdrop,” said Montanus.

Despite the strong historical outperformance of the asset class, mid cap value funds have a small market share according to Morningstar (less than 1.5 percent of U.S. mutual fund AUM), so many investors may be missing out on the return potential of the asset class.

The fund holds 40 to 50 stocks, the team’s best ideas, and is constructed with a balanced exposure to stocks at different stages in their investment lifecycles. “Fundamental research is at the heart of our process. Over the years, we’ve proven that we can identify companies early on that are poised for positive change. We are patient investors that are willing to give companies the time needed to turn things around and become better companies,” said lead manager Montanus.

To round out their approach, the portfolio management team leverages the comprehensive fundamental, quantitative, and responsible investing research capabilities of the firm, including 160 analysts and research associates with deep industry knowledge who provide comprehensive sector coverage.

Morningstar ratings and rankings

Category: US Fund Mid-Cap Value as of November 30, 2021

Ratings and rankings shown for Institutional Share Class. Other classes may have different performance characteristics and may have different ratings. Morningstar Star Ratings are based on a Morningstar Risk-Adjusted Return measure. Morningstar Percentile Rankings are based on annualized total returns.

About Columbia Threadneedle Investments

Columbia Threadneedle Investments is a leading global asset manager that provides a broad range of investment strategies and solutions for individual, institutional and corporate clients around the world. With more than 2,500 people, including over 650 investment professionals based in North America, Europe and Asia², we manage $714 billion of assets across developed and emerging market equities, fixed income, asset allocation solutions and alternatives.³

Columbia Threadneedle Investments is the global asset management group of Ameriprise Financial, Inc. (NYSE: AMP). For more information, please visit columbiathreadneedleus.com. Follow us on Twitter.

Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies.

¹ Source: Refinitiv. A Lipper Fund Award is awarded to one fund in each Lipper classification for achieving the strongest trend of consistent risk-adjusted performance against its classification peers over the three- five- or 10-year periods ending December 31, 2020. Awards are based on the fund’s performance for the prior calendar year and do not reflect the inclusion of sales charges. Columbia Select Mid Cap Value Inst 3 was awarded a Lipper Fund Award for the 3-year period ending December 31, 2020, in the Mid-Cap Value Funds category of 34 funds.

² As of November 8, 2021, Columbia Threadneedle Investments including BMO GAM (EMEA)

³ As of September 30, 2021. Includes all assets managed by entities in the Columbia and Threadneedle group of companies.

Investors should consider the investment objectives, risks, charges and expenses of a mutual fund carefully before investing. For a free prospectus or a summary prospectus, which contains this and other important information about the funds, visit www.columbiathreadneedleus.com/investor/. Read the prospectus carefully before investing.

Morningstar Percentile Rankings are based on the average annual total returns of the funds in the category for the periods stated. They do not include sales charges or redemption fees but do include operating expenses and the reinvestment of dividends and capital gains distributions. Share class rankings vary due to different expenses. If sales charges or redemption fees were included, total returns would be lower.

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ used to rank the fund against other funds in the same category. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly excess performance, without any adjustments for loads (front-end, deferred, or redemption fees), placing more emphasis on downward variations and rewarding consistent performance. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics.

©2021 Morningstar, Inc. All rights reserved. The Morningstar information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

The Refinitiv Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. Lipper Leaders fund ratings do not constitute and are not intended to constitute investment advice or an offer to sell or the solicitation of an offer to buy any security of any entity in any jurisdiction. For more information, see lipperfundawards.com.

Columbia Funds are distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.

© 2021 Columbia Management Investment Advisers, LLC. All rights reserved.

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