1Effective June 1, 2021, this strategy is generally closed to investors.
2LDI is offered through Intermediaries via a direct client IMA agreement with CMIA.
Investing involves risk including the risk of loss of principal. There is no guarantee that investment objectives will be achieved or that any particular investment will be profitable.
Market risk may affect a single issuer, sector of the economy, industry or the market as a whole. Investments in small & mid-cap companies involve risks and volatility greater than investments in larger, more established companies. Generally, large-cap companies are more mature and have limited growth potential compared to smaller companies. In addition, large companies may not be able to adapt as easily to changing market conditions, potentially resulting in lower overall performance compared to the broader securities markets during different market cycles. Growth securities, at times, may not perform as well as value securities or the stock market in general and may be out of favor with investors. Value securities may be unprofitable if the market fails to recognize their intrinsic worth or the portfolio manager misgauged that worth. International investing involves certain risks and volatility due to potential political, economic or currency instabilities and different financial and accounting standards. There are risks associated with fixed-income investments, including credit risk, interest rate risk, and prepayment and extension risk. In general, bond prices rise when interest rates fall and vice versa. This effect is usually more pronounced for longer term securities. A rise in interest rates may result in a price decline of fixed-income instruments, negatively impacting performance. Falling rates may result in investing in lower yielding debt instruments, lowering the income and yield. These risks may be heightened for longer maturity and duration securities. Non-investment grade securities have greater credit risk and volatility. Investments in municipal securities will be affected by tax, legislative, regulatory, demographic or political changes, as well as changes impacting a state's financial, economic or other conditions. Income from tax-exempt municipal bonds may be subject to state and local taxes, and a portion of income may be subject to the federal and/or state alternative minimum tax for certain investors. Federal income tax rules will apply to any capital gains. Columbia Management Investment Advisers, LLC and its affiliates do not offer tax or legal advice. Consumers should consult with their tax advisor or attorney regarding their specific situation. Investments may not keep pace with inflation, which may result in losses. A portfolio may be more volatile due to concentrated investments in similar industries, sectors or geographical regions. Asset allocation & diversification does not assure a profit or protect against loss. Dividend payments are not guaranteed and the amount, if any, can vary over time.
Advisory services provided by Columbia Management Capital Advisers, an operating division of Columbia Management Investment Advisers, LLC (“CMIA”) that offers investment management and related services to clients participating in various types of wrap programs.