Columbia Management Launches Mortgage Opportunities Fund

New fund takes a flexible approach designed to generate attractive risk-adjusted total returns

Business Wire


Columbia Management today announced the launch of the Columbia Mortgage Opportunities Fund (CLMZX), an open-end fund which will invest across a full range of mortgage-related and other structured securities. The fund is managed by Jason Callan, head of structured assets, and Tom Heuer, portfolio manager for structured assets.

The Columbia Mortgage Opportunities Fund offers investors a top-performing management team that has the flexibility to navigate a variety of interest rate, economic and market environments.

“Columbia Management is fortunate to have one of the industry’s leading mortgage-backed investment teams, led by Jason and Tom,” said Colin Lundgren, Head of U.S. Fixed Income. “With this new fund, we have provided the team with greater flexibility to implement its best ideas with the goal of generating attractive risk-adjusted total returns for investors.”

The fund’s managers have the ability to invest across the entire mortgage-backed securities market, including agency, non-agency and commercial mortgage-backed securities (MBS) in order to provide investors with their best absolute and relative value investment ideas. This approach provides the investment team with greater flexibility to actively manage for duration, interest rate and credit risk, and changes in the credit cycle and housing market.

Callan and Heuer manage $17.1 billion in mortgage-related assets, as of December 31, 2013.

About the portfolio managers:
Jason Callan is a senior portfolio manager and head of structured assets at Columbia Management. He joined the firm in 2007 and has been a member of the financial services community since 2003. He earned a B.S. in economics from the University of Minnesota and an M.B.A. from University of Minnesota’s Carlson School of Management.

Tom Heuer is a portfolio manager for structured assets at Columbia Management. Mr. Heuer joined the firm in 1993 and has been a member of the investment community since 1993. He earned a B.A. in accounting from the University of Wisconsin and an M.B.A. with a concentration in finance from the University of Minnesota. He holds the Chartered Financial Analyst designation.

About Columbia Management:
Columbia Management is a leading manager of long-term mutual fund assets with $358 billion under management as of March 31, 2014. Columbia Management is a subsidiary of Ameriprise Financial, Inc. (AMP).

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Investors should consider the investment objectives, risks, charges and expenses of the fund carefully before investing. The prospectus and if available, a summary prospectus, which contains this and other information about the fund, should be read carefully before investing. Please visit for a free prospectus.

Class R4, R5 and Z shares are sold at net asset value and have limited eligibility. Columbia Management offers multiple share classes, not all necessarily available through all firms, and the share class rating may vary. Contact us for details.

Funds that seek to generate absolute returns are generally not designed to outperform stocks and bonds in strong markets. Market risk may affect a single issuer, sector of the economy, industry or the market as a whole. Mortgage- and asset-backed securities are affected by interest rates, financial health of issuers, creditworthiness of guarantors and the value of underlying assets. Non-governmental issues may entail greater risk. Investing in derivatives is a specialized activity that involves special risks, which may result in significant losses or limited gains. The fund’s use of leverage subjects additional fund assets to the risk of loss. Fixed-income securities present issuer default risk. A rise in interest rates may result in a price decline of fixed-income securities held by the fund. Falling rates may result in the fund investing in lower yielding securities, lowering the fund’s income and yield. Non-investment-grade securities (high-yield or junk bonds) are volatile and carry more risk to principal and income than investment-grade securities. Prepayment of a security may result in a reduced yield to the fund. As a non-diversified fund, fewer investments could have a greater effect on performance.

Columbia Funds are distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.

© 2014 Columbia Management Investment Advisers, LLC. All rights reserved.

Columbia Management Investment Distributors, Inc.
225 Franklin Street, Boston, MA 02110

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Columbia Management
Carlos Melville, 617-897-9384


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