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|                                                                                  |
|----------------------------------------------------------------------------------|
|                                                                                  |  |  |
| HOW TO USE THIS CODE                                                             | 2 |  |
|                                                                             |   |
| 1.0 OVERVIEW                                                                     | 4 |  |
|   1.1   Required Standards of Business Conduct                         | 4 |  |
|   1.2   Fiduciary Principles                                           | 4 |  |
|   1.3   Basis of Rules                                                 | 5 |  |
|   1.4   Applicability of Rules                                         | 5 |  |
|   1.5   Entities Adopting Code                                         | 5 |  |
|   1.6   Additional Policies                                            | 5 |  |
|                                                                             |   |
| 2.0 GENERAL RULES AND REPORTING REQUIREMENTS                                     | 6 |  |
| 2.1   General Rules for All Covered Persons                                      | 6 |  |
| 2.2   Reporting Requirements                                                     | 7 |  |
| 2.3   Gifting Securities                                                         | 7 |  |
| 2.4   Unusual Trading Activity                                                   | 7 |  |
| 2.5   Violations or Suspected Violations                                         | 8 |  |
| 2.6   Sanctions                                                                  | 8 |  |
| 2.7   Recordkeeping Requirements                                                 | 8 |  |
|                                                                             |   |
| 3.0 SPECIFIC TRADING RULES FOR ALL COVERED PERSONS                               | 9 |  |
| 3.1   Covered Persons Definition                                                 | 9 |  |
| 3.2   Preclearance of Security Trades                                            | 9 |  |
| 3.3   Limited Offerings (Private Placement) Preclearance                         | 10 |  |
| 3.4   30 Day Holding Period for Individual Securities at a Profit                | 10 |  |
| 3.5   30 Day Holding Period for Covered Funds including Covered Closed-End Funds | 11 |  |
| 3.6   Additional Rules for Certain Personnel                                     | 11 |  |
|                                                                             |   |
| 4.0 RULES BY ROLE: PORTFOLIO MANAGERS                                            | 12 |  |
| 4.1   Portfolio Managers Definition                                              | 12 |  |
| 4.2   14 Day Blackout Period                                                     | 12 |  |
| 4.3   Personal Trading Contrary to Client Account Holdings                       | 12 |  |
|                                                                             |   |
| 5.0 RULES BY ROLE: RESEARCH ANALYSTS                                             | 13 |  |
| 5.1   Research Analyst Definition                                                | 13 |  |
| 5.2   Prohibitions on Coverage List Securities                                   | 13 |  |
|                                                                             |   |
| 6.0 AMERIPRISE FINANCIAL INSIDER TRADING POLICY SUMMARY                          | 14 |  |
|                                                                             |   |
| 7.0 AMERIPRISE FINANCIAL LIMITED CHOICE POLICY                                   | 15 |  |
|                                                                             |   |
| Definitions                                                                      | 16 |  |
| APPENDICIES                                                                      | 17 |  |

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|         |                                                                                                  |
|---------|--------------------------------------------------------------------------------------------------|
| • | You must comply with all applicable laws and regulations, including the federal securities laws; |

|         |                                                     |
|---------|-----------------------------------------------------|
| • | You must comply with our fiduciary obligations; and |

|         |                                 |
|---------|---------------------------------|
| • | You must comply with this Code. |

|         |                                                                                                  |
|---------|--------------------------------------------------------------------------------------------------|
| • | The interests of our advised and sub-advised account clients  must be placed first at all times; |

|         |                                                                                                                                                                                                                                                                |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | All personal trading transactions must be conducted consistent with the rules contained in this Code and in such a manner as to avoid any actual or potential conflict of interest or any abuse of an individual’s position of trust and responsibility; |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | You should never use your position with the company, or information acquired during your employment, in your personal trading in a manner that may create a conflict – or the appearance of a conflict – between your personal interests and the interest of the company or its customers and clients.  If such a conflict or potential conflict arises, you must report it immediately to Personal Trade Compliance either through the hotline or email inbox. |

|         |                                  |
|---------|----------------------------------|
| • | Defrauds a client in any manner; |

|         |                                                                       |
|---------|-----------------------------------------------------------------------|
| • | Misleads a client, including any statement that omits material facts; |

|         |                                                             |
|---------|-------------------------------------------------------------|
| • | Operates or would operate as a fraud or deceit on a client; |

|         |                                                                    |
|---------|--------------------------------------------------------------------|
| • | Functions as a manipulative practice with respect to a client; and |

|         |                                                                  |
|---------|------------------------------------------------------------------|
| • | Functions as a manipulative practice with respect to securities. |

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|         |     |
|---------|-----|
| • | You |

|         |                     |
|---------|---------------------|
| • | Your spouse/partner |

|         |                           |
|---------|---------------------------|
| • | Your financial dependants |

|         |                                 |
|---------|---------------------------------|
| • | Other members of your household |

|         |                                                                           |
|---------|---------------------------------------------------------------------------|
| • | Certain entities over which you exercise investment discretion or control |

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|    |                                                                                                                                                                                                                                                                               |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 1. | No misuse of material non-public information relating to any securities including information relating to portfolio holdings or pricing of Covered Funds, including Covered Closed-End Funds, and RiverSource Private Funds. Refer to Section 6.0 for additional information. |

|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 2. | No front-running. This involves an individual taking advantage of non-public information about imminent trading activity in advised accounts (Covered Funds, Covered Closed-End Funds, Private Funds and other client accounts) by trading in a security before an account of a CMIA client does. You are not allowed to trade in a particular security ahead of, or at the same time as, accounts of Columbia clients if you have knowledge of a pending transaction. |

|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3. | No market timing (short-term trading) in shares of Mutual Funds or other pooled vehicles. This prohibition applies across all accounts in which you have a beneficial interest. Market timing practices are frequent trading practices by certain shareholders intended to profit at the expense of other shareholders by selling shares of a fund shortly after purchase. Market timing may adversely impact a fund’s performance by preventing the investment manager from fully investing the assets of the fund, diluting the value of shares held by long-term shareholders, or increasing the fund’s transaction costs. |

|    |                                                                                                                                                                                                                                                                      |
|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 1. | No purchasing of Initial Public Offerings (“IPOs”) of equity securities, other than IPOs of Closed-End Funds.  Initial offerings of other types of securities may be acceptable; contact Personal Trade Compliance for preclearance of these issues. |

|    |                                                                                                      |
|----|------------------------------------------------------------------------------------------------------|
| 2. | No direct trades with broker/dealers' trading desks or non-retail relationships with broker/dealers. |

|    |                                                                                                                                                                                                                                                                                                                                                                                                      |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3. | No speculative trading of Ameriprise Financial stock, which is characterized by multiple transactions in a short period of time, transactions in “put” or “call” options, short sales or similar derivative transactions. This includes soliciting speculative trades in Ameriprise Financial securities or offering or soliciting an opinion on Ameriprise Financial stock. |

|    |                                                                                                                                                                                       |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4. | Certain Covered Persons are prohibited from joining or being a member of an investment club. If you wish to participate in an investment club, contact Personal Trade Compliance. |

|    |                                                                                                                                                             |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 1. | No preferential treatment from other brokerage firms due to the Covered Person’s employment by or association with Ameriprise Financial and CMIA. |

|    |                                                                                                                                                                                 |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 2. | No use of Ameriprise Financial’s name (or the name of any of its subsidiaries) to obtain a better price from a broker who is a market maker in the security being traded. |

|    |                                                                                                                                                                                                                                                                                                                                                                                                             |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3. | When engaging in a personal securities transaction, a Covered Person shall always place the interests of clients first and avoid any actual or potential conflict of interest or abuse of his or her position. This includes using best judgment in giving investment advice to clients and not taking into consideration the Covered Person’s own personal financial situation or interests. |

|    |                                                                                                                                                                                                                                                                 |
|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 1. | Additional rules are applicable to Covered Persons who fall within one or more of the following categories of personnel: Portfolio Managers or Research Analysts. These rules will be described in the “Rules by Role” in Sections 4.0 and 5.0. |

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|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 1. | Initial Holdings Report and Certification: Upon becoming a Covered Person under this Code, one must disclose all Brokerage Accounts with certain securities holdings (as indicated in the Individual Securities Requirements List – Appendix A) in which they have Beneficial Ownership. All Covered Persons are notified of this requirement and are provided with a copy of the Code when they first become subject to the Code. This initial certification must be completed within 10 days of becoming a Covered Person. This information must be current as of the date no more than 45 days prior to the date the person becomes a Covered Person. |

|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 2. | Annual Certification: Covered Persons are also required to complete an annual accounts and holdings certification. This certification allows the individual to validate the Brokerage Accounts and certain securities holdings in which they have Beneficial Ownership. Covered Persons also certify that they have received, read and understand the Code.  This information must be current as of a date no more than 45 days prior to the date the report was submitted. |

|    |                                                                                                                                                                                                                                                                                                |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3. | Quarterly Certification: On a quarterly basis, Covered Persons must also certify to securities transactions outside of a previously reported and approved Brokerage Account. The quarterly certification must be completed within 30 calendar days of the last day of the quarter. |

|         |                                                                    |
|---------|--------------------------------------------------------------------|
| • | the day you intend to buy the security (if not already owned); and |

|         |                                                                                                                                             |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------|
| • | the day you intend to give the securities (if the gift was not actually given on the day intended, please inform Personal Trade Compliance) |

|         |                                       |
|---------|---------------------------------------|
| • | violations of personal trading rules; |

|         |                                                                                                  |
|---------|--------------------------------------------------------------------------------------------------|
| • | trades in a security shortly before trades in the same security made on behalf of  CMIA clients; |

|         |                                                                               |
|---------|-------------------------------------------------------------------------------|
| • | patterns of personal trading that are similar to your clients’ trading; |

|         |                                                                    |
|---------|--------------------------------------------------------------------|
| • | significant changes in trading volume or excessive trading volume; |

|         |                                 |
|---------|---------------------------------|
| • | patterns of short-term trading; |

|         |                                                   |
|---------|---------------------------------------------------|
| • | significant positions in illiquid securities; and |

|         |                                                                                         |
|---------|-----------------------------------------------------------------------------------------|
| • | a number of Covered Persons trading in the same security in the same timeframe. |

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|         |                                                                                      |
|---------|--------------------------------------------------------------------------------------|
| • | a written reminder about the rules  (with a copy to the individual’s manager); |

|         |                                                                                                                         |
|---------|-------------------------------------------------------------------------------------------------------------------------|
| • | notification to your broker to freeze your account from any buy-side trading, allowing only transfers and liquidations; |

|         |                                                                   |
|---------|-------------------------------------------------------------------|
| • | suspension of all personal trading for a specific period of time; |

|         |                        |
|---------|------------------------|
| • | forfeiture of profits; |

|         |                |
|---------|----------------|
| • | monetary fine; |

|         |                                                                                                      |
|---------|------------------------------------------------------------------------------------------------------|
| • | negative impact on the individual’s bonus or other compensation and or performance rating; and |

|         |             |
|---------|-------------|
| • | termination |

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|    |                                                                                                                                     |
|----|-------------------------------------------------------------------------------------------------------------------------------------|
| 1. | Have access to information regarding impending purchases or sales of portfolio securities for any account owned or managed by CMIA. |

|    |                                                                                                                                                                                                                            |
|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 2. | Have access to nonpublic information on the holdings or transactions of (i) Covered Funds advised by or sub-advised by CMIA, or for which an affiliate of CMIA serves as principal underwriter, or (ii) Private Funds. |

|    |                                                                                                                                                                                                                                                                                                                                                                                      |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3. | Have access to investment research and recommendations of CMIA.  However, investment research of CMIA may be shared with employees of certain approved affiliates of CMIA who are not subject to this Code, provided that they are subject to other policies and controls that seek to ensure that CMIA clients are treated fairly with respect to this sharing of research. |

|    |                                            |
|----|--------------------------------------------|
| 4. | Work in the Investment Department of CMIA. |

|    |                                                        |
|----|--------------------------------------------------------|
| 5. | Participate in the investment decision-making process. |

|    |                                                                                                                                                                                                                      |
|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 6. | Have a specific role which compels Covered Person status, such as the member of a staff group that provides ongoing audit, technology, finance, compliance, or legal support to the asset management businesses. |

|    |                                                                                                                                                              |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 7. | Have been designated as a Covered Person for any other reason, such as working on a project where you have access to proprietary investment information. |

|         |                                                                                              |
|---------|----------------------------------------------------------------------------------------------|
| • | Even if you receive preclearance, you cannot be assured that you have not violated the Code. |

|         |                                                                                                     |
|---------|-----------------------------------------------------------------------------------------------------|
| • | Receiving preclearance does not exempt you from other personal trading rules included in this Code. |

|         |                                                                           |
|---------|---------------------------------------------------------------------------|
| • | In all cases preclearance is good only for the trading day it is granted. |

|         |                                                                                                                                                                                                                                                                                                                      |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Certain transactions are exempt from the preclearance requirement. The following are some common examples – a more detailed list is available in Appendix A:  Opening and subsequent transactions in a 529 Education Plan and transactions that are non-volitional (e.g., stock splits, automatic conversions) |

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|    |                                               |
|----|-----------------------------------------------|
| 1) | Obtain your immediate leader’s approval |

|    |                                                                                                                                                                                                                                                     |
|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 2) | Submit your request and leader’s approval to Hedge Fund Administration as you go through the normal subscription process for that fund. Hedge Fund Administration will grant or deny approval in consultation with Personal Trade Compliance. |

|    |                                                                                                                                                                          |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 1) | Submit your request to Hedge Fund Administration as you go through the normal subscription process for that fund. Hedge Fund Administration will grant or deny approval. |

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|         |                    |
|---------|--------------------|
| • | Portfolio Managers |

|         |                   |
|---------|-------------------|
| • | Research Analysts |

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|         |                                                                                                                                                                                                                                                                            |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Trade Date less 7 calendar days before and Trade Date plus 7 calendar days after a fund or account they manage trades in that same (or equivalent) security.  This means a Portfolio Manager must wait until calendar day 8 to trade the security. |

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|    |                                                                                                                                                                                           |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 1. | Complete the Brokerage Account Notification Form Appendix E and return it to Personal Trade Compliance. Failure to properly carry out this notification process may result in a sanction. |

|    |                                                                                                                                                                                                                                                                                                      |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 2. | Notify your broker of your association with Ameriprise Financial. You are responsible for notifying your broker that you are affiliated with or employed by a broker/dealer and ensuring that Personal Trade Compliance is provided with duplicate statements and confirmations for your account(s). |

|    |                                                                                                   |
|----|---------------------------------------------------------------------------------------------------|
| 1. | You may transfer the subject holdings to a like-ownership account at one of the approved brokers. |

|    |                                                                                                                                                              |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 2. | You may liquidate the subject holdings (subject to the requirements in the Code) and either hold the proceeds as cash or reinvest in non-subject securities. |

|    |                                 |
|----|---------------------------------|
| 3. | You may apply for an exception. |

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|         |                                                                        |
|---------|------------------------------------------------------------------------|
| • | Is a trustee or custodian for an account (e.g., for a child or parent) |

|         |                                                                                                                     |
|---------|---------------------------------------------------------------------------------------------------------------------|
| • | Exercises discretion over an account via a power of attorney arrangement or as an executor of an estate after death |

|         |                                    |
|---------|------------------------------------|
| • | Participates in an investment club |

|         |                                                                                                                                          |
|---------|------------------------------------------------------------------------------------------------------------------------------------------|
| • | Has another arrangement where they give advice and also have a direct or indirect ownership (e.g. treasurer of an outside organization). |

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