Supplement dated July 8, 2024
to the Prospectus and Summary Prospectus, each as supplemented, of the following fund:
Fund
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Prospectus and Summary Prospectus Dated
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Columbia Funds Series Trust I
|
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Multi-Manager International Equity Strategies Fund
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1/1/2024
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On June 27, 2024, the Fund's Board of Trustees approved the addition of Walter Scott & Partners Limited (Walter Scott) as a subadviser of a portion of the Fund's portfolio, effective on or about August 19, 2024 (the Effective Date). Accordingly, as of the Effective Date, the changes described in this Supplement are hereby made to the Fund's Prospectus and Summary Prospectus.
The second paragraph under the subsection "Principal Investment Strategies" in the Summary Prospectus, in the "Summary of the Fund" section of the Prospectus and in the "More Information About the Fund" section of the Prospectus is hereby superseded and replaced with the following:
Columbia Management is responsible for providing day-to-day portfolio management of a sleeve of the Fund and is also responsible for oversight of the Fund's Subadvisers. The Subadvisers are Arrowstreet Capital, Limited Partnership (Arrowstreet), Baillie Gifford Overseas Limited (Baillie Gifford), Causeway Capital Management LLC (Causeway), and Walter Scott & Partners Limited (Walter Scott). Columbia Management, subject to the oversight of the Fund's Board of Trustees, determines the allocation of the Fund's assets to each sleeve, and may change these allocations at any time. Columbia Management and the Subadvisers act independently of one another and use their own methodologies for selecting investments.
The rest of the section remains the same.
The information under the subsection "Performance Information" in theSummary Prospectus and in the "Summary of the Fund" section of the Prospectus is hereby revised to add the following:
The Fund's performance prior to August 19, 2024 reflects returns achieved by the Investment Manager and all subadvisers other than Walter Scott. Thereafter, the Investment Manager and all subadvisers, including Walter Scott, have each managed a portion of the Fund's portfolio. If the Fund's current Investment Manager and subadvisers had been in place for the prior periods, results shown may have been different.
The rest of the section remains the same.
The information under the subsection "Fund Management" in the Summary Prospectus and in the "Summary of the Fund" section of the Prospectus is hereby revised to add the following:
Subadviser:Walter Scott & Partners Limited (Walter Scott)
Investment decisions for the portion of the Fund subadvised by Walter Scott are made by Walter Scott's investment team and ratified by the Investment Executive (IE). The investment team is overseen by Walter Scott's Investment Management Committee (IMC). The following are members of Walter Scott's IE. The IE ratifies all new purchase decisions and determines portfolio allocations. These individuals also have responsibility with the IMC.
Portfolio Management
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Title
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Role with Fund
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Managed Fund Since
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Roy Leckie
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Executive Director of Walter Scott
and Co-Chair of Walter Scott's IMC
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IE Member (portfolio management)
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August 2024
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Charlie Macquaker
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Executive Director of Walter Scott
and Co-Chair of Walter Scott's IMC
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IE Member (portfolio management)
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August 2024
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Jane Henderson
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Managing Director of Walter Scott
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IE Member (portfolio management)
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August 2024
|
Fraser Fox, CFA
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Investment Manager of Walter
Scott
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IE Member (portfolio management)
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August 2024
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Maxim Skorniakov, CFA
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Investment Manager of Walter
Scott
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IE Member (portfolio management)
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August 2024
|
The rest of the section remains the same.
The information under the subsection "Principal Investment Strategies" in the "More Information About theFund" section of the Prospectus is hereby revised to add the following:
Walter Scott - International Growth Strategy Sleeve
Walter Scott seeks investment opportunities in companies with fundamental strengths that indicate the potential for durable long-term growth, thereby benefitting from the power of compounding. Walter Scott focuses on individual stock selection, building its portion of the Fund's portfolio from the bottom up through extensive fundamental research.
Walter Scott's investment process begins with the screening of reported company financials. Companies that meet certain broad absolute and trend criteria are candidates for more detailed financial analysis. For these companies, Walter Scott restates the company's income statement, flow of funds, and balance sheet to a cash basis. This analysis assists Walter Scott in identifying the nature of the operating margin, working capital management and the