Columbia Management Launches Emerging Market and European Funds
August 22 2011 - 11:01AM
Business Wire
Columbia Management today announced the launch of two
international equity funds: Columbia Acorn Emerging Markets
Fund (CAGAX) and Columbia Acorn European Fund (CAEAX).
The open-end mutual funds invest in companies with market caps
under $5 billion. They are managed by Columbia Wanger Asset
Management, which also manages Columbia Acorn International Fund
(LAIAX) and Columbia Acorn International Select Fund (LAFAX).
Columbia Acorn Emerging Markets Fund invests at least 80% of its
assets in companies located in or primarily exporting to China,
Brazil, India, and other emerging or frontier markets. Lead
managers for the fund are Fritz Kaegi and Stephen Kusmierczak, and
co-managers are Zach Egan and Louis Mendes.
“While most emerging markets funds invest in large cap stocks
that are dependent on world macroeconomics, Columbia Acorn Emerging
Markets Fund is focused on smaller, more innovative companies,
often serving local consumers,” said Chuck McQuaid, chief
investment officer at Columbia Wanger Asset Management. “We look
for niche businesses that are more nimble and possess solid,
long-term growth prospects.”
Columbia Acorn European Fund invests at least 70% of its assets
in Western European countries. Up to 30% of assets may be invested
in emerging Central and Eastern European countries such as Poland
and the Czech Republic, including up to 10% in companies in Russia
and the Ukraine. Lead manager for the Fund is Andreas
Waldburg-Wolfegg and co-manager is Stephen Kusmierczak.
“Many smaller European companies enjoy dominant global positions
in highly profitable niche markets. This fund will seek out these
and other exciting opportunities,” said Zach Egan, also director of
international research for Columbia Wanger. “Our international team
of nine portfolio managers and analysts has extensive experience,”
added McQuaid. “The team performs rigorous research to uncover new
investment ideas through a research-driven and
fundamentally-focused stock selection process.”
About Columbia Management:Columbia Management is the
seventh largest manager of long-term mutual fund assets with $362
billion under management as of June 30, 2011. Columbia Management
is a subsidiary of Ameriprise Financial, Inc. (NYSE: AMP).
About Columbia Wanger Asset Management:Columbia Wanger
Asset Management has $35.7 billion in assets under management as of
June 30, 2011 including $11.3 billion of international assets.
Columbia Wanger Asset Management is based in Chicago and is a
subsidiary of Columbia Management.
For more information, please visit columbiamangement.com.
Investors should consider the investment objectives, risks,
charges and expenses of a mutual fund carefully before investing.
For a free prospectus, which contains this and other important
information about the funds, visit ColumbiaManagement.com. The
prospectus should be read carefully before investing.
The market value of securities and currencies may fall or fail
to rise. Market risk may affect a single issuer, sector of the
economy, industry, or the market as a whole. Investments in foreign
securities involve certain risks not associated with investments in
U.S. companies, due to political, regulatory, economic, social and
other conditions or events occurring in the country, as well as
fluctuations in currency and the risks associated with less
developed custody and settlement practices. Risks are particularly
significant in emerging markets.
Investments in small-capitalization companies involve greater
risks and volatility than investments in larger, more established
companies. See the prospectus for more information on these and
other risks associated with the Fund.
Investment products are not federally or FDIC-insured, are not
deposits or obligations of, or guaranteed by any financial
institution, and involve investment risks including possible loss
of principal and fluctuation in value.
Columbia Funds and Columbia Acorn Funds are distributed by
Columbia Management Investment Distributors, Inc., member FINRA.
Columbia Funds are managed by Columbia Management Investment
Advisers, LLC and Columbia Acorn Funds are managed by Columbia
Wanger Asset Management, LLC, a subsidiary of Columbia Management
Investment Advisers, LLC.
© 2011 Columbia Management Investment Advisers, LLC. All rights
reserved.
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