Staying invested could help avoid missed opportunities. Stocks historically have posted strong results following past recessionary periods often within the first three months. While past performance is no guarantee of future results and no one can predict the magnitude of any impending recovery, history shows that being invested before the market turns can yield sizable long-term benefits.

Investing involves risks, including the loss of principal invested. Risks include stock market fluctuations due to business and economic developments. Share prices of small-capitalization companies tend to be more volatile because small companies often have narrower markets, limited financial resources and stocks that are not as actively traded as large-company stocks. Investing in large-cap stocks incurs the possibility of losses because their prices are sensitive to changes in current or expected earnings. Dividend payments are not guaranteed. The amount of a dividend payment, if any, can vary over time.

You should consider your own goals, time horizon and tolerance for risk before making an investment decision.

¹ This chart is for illustration purposes only and is not intended to represent the performance of any specific investment. Index returns assume the reinvestment of all distributions unless otherwise indicated. Low dates used for the S&P 500 Index during recessions were defined by the National Bureau of Economic Research (NBER). The Standard & Poor’s (S&P) 500 Index tracks the performance of 500 widely held, large-capitalization U.S. stocks. Unlike mutual funds, indices are not managed and do not incur fees or expenses. It is not possible to invest directly in an index.

^* The benefit of spreading out your payments is you’ll end up buying more shares when the market price is low and fewer shares when the market price is high. In the long run, you could accumulate more shares at a lower cost per share. Dollar cost averaging does not assure a profit and does not protect against loss in declining markets. Investors should consider their financial ability to continue their purchases through periods of fluctuating price levels.

Please read and consider the investment objectives, risks, charges and expenses for any fund carefully before investing. For a prospectus which contains this and other important information about the fund, contact your Columbia Management representative or financial advisor.

Columbia Management Group, LLC ("Columbia Management") is the investment management division of Bank of America Corporation. Columbia Management entities furnish investment management services and products for institutional and individual investors. Columbia Funds are distributed by Columbia Management Distributors, Inc., member FINRA and SIPC. Columbia Management Distributors, Inc. is part of Columbia Management and an affiliate of Bank of America Corporation.