BOSTON – April 4, 2011 – Columbia Management today announced the launch of two open-end mutual funds: The Columbia Absolute Return Multi-Strategy Fund (CMSAX) and the Columbia Absolute Return Multi-Strategy Enhanced Fund (CEMAX). The funds employ multiple strategies designed to help reduce overall portfolio volatility and generate positive (absolute) returns.
“We believe these funds represent a different approach to absolute return investing,” said Todd White, head of alternatives and absolute return investments at Columbia Management. “While many absolute return funds focus on a single strategy, we carefully balance numerous independent strategies.”
Columbia Absolute Return Multi-Strategy Fund (CMSAX)
Columbia Absolute Return Multi-Strategy Fund targets long-term returns similar to historical returns of investment-grade bonds, but with lower volatility and low correlation to the Barclays Capital U.S. Aggregate Bond Index.
Columbia Absolute Return Multi-Strategy Enhanced Fund (CEMAX)
Columbia Absolute Return Enhanced Multi-Strategy Fund targets long-term returns similar to historical returns of equities, but with lower volatility and low correlation to the S&P 500 Index.
“Our Absolute Return Multi-Strategy Funds combine the investment experience of many teams at Columbia Management to build innovative solutions,” said Christopher Thompson, head of product and marketing at Columbia Management. “These funds provide advisors and their clients with an opportunity to enhance their portfolio diversification while seeking positive returns.”
About the portfolio managers:
Todd White is head of alternatives and absolute return investments at Columbia Management. He joined Columbia Management in 2008 and has 25 years of industry experience including positions at HSBC, as global head of asset-backed and mortgage-backed securities, and at Lehman Brothers. Mr. White received a B.S. in finance from Indiana University.
Kent Peterson is a senior portfolio manager with the asset allocation team at Columbia Management. Dr. Peterson joined the firm in 2006 and has 12 years of industry experience. Prior to joining Columbia Management he was with Bridgewater Associates. He earned a B.A. from Cornell University and a Ph.D. from Princeton University.
For more information on the funds, visit columbiaARfunds.com.
About Columbia Management:
Columbia Management is the seventh largest manager of long-term mutual fund assets with $355 billion under management as of December 31, 2010. Columbia Management is a subsidiary of Ameriprise Financial, Inc. (NYSE: AMP). For more information, please visit columbiamangement.com.
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