Summary

• Columbia Select Short Corporate Income Fund Institutional Class shares returned 0.11% for the three months ending March 31, 2026.
• The first quarter of 2026 was dominated by the outbreak of armed conflict between the United States/Israel and Iran, which effectively disrupted transit through the Strait of Hormuz.
• There was $720 billion of U.S. dollar-denominated investment-grade corporate and noncorporate issuance over the quarter, which was the busiest first quarter of issuance ever.
• Security selection had a positive impact on performance over the quarter, with the largest contribution coming from an allocation to a pharmaceutical technology company.
• Columbia Select Short Corporate Income Fund upgraded the quality of the fund, as prior to the war-induced volatility, spreads were tight and dispersion across ratings was low.

Fund performance

• Columbia Select Short Corporate Income Fund Institutional Class shares returned 0.11% for the three months ending March 31, 2026.
• The fund's primary benchmark, the Bloomberg U.S. 1–5 Year Corporate Index, returned 0.09% for the same period.

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