# EDGAR Filing Document

**Accession Number:** 0001352280
**File Stem:** 0001193125-23-050041
**Filing Date:** 2023-2
**Character Count:** 38610
**Document Hash:** de8f18405bff5bd43fb24cc0decf38a4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-050041.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001193125-23-050041

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 5

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**EFFECTIVENESS DATE**: 20230227

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Columbia Funds Series Trust II
- **CENTRAL INDEX KEY:** 0001352280
- **IRS NUMBER:** 204384176
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-131683
- **FILM NUMBER:** 23670650

**BUSINESS ADDRESS:**
- **STREET 1:** 290 CONGRESS STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210
- **BUSINESS PHONE:** 800-345-6611

**MAIL ADDRESS:**
- **STREET 1:** 290 CONGRESS STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** RIVERSOURCE SERIES TRUST
- **DATE OF NAME CHANGE:** 20070928

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** RIVERSOURCE RETIREMENT SERIES TRUST
- **DATE OF NAME CHANGE:** 20060801

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** RiverSource Retirement Series Trust
- **DATE OF NAME CHANGE:** 20060206

## Series and Classes Contracts Data

### Columbia Select Global Equity Fund (Series ID: S000030660)

| Class ID   | Class Name                                               | Ticker Symbol   |
|:---|:---|:---|
| C000095017 | Columbia Select Global Equity Fund Class A               | IGLGX           |
| C000095019 | Columbia Select Global Equity Fund Class C               | RGCEX           |
| C000095021 | Columbia Select Global Equity Fund Class R               | CGERX           |
| C000095023 | Columbia Select Global Equity Fund Institutional Class   | CGEZX           |
| C000097634 | Columbia Select Global Equity Fund Institutional 2 Class | RGERX           |
| C000184719 | Columbia Select Global Equity Fund Institutional 3 Class | CSEYX           |
| C000200532 | Columbia Select Global Equity Fund Advisor Class         | CSGVX           |

![](g606781cyanblocks.gif)

![](g606781coltnlogospot.gif)

#### Summary Prospectus
March 1, 2023<br>

Columbia Select Global Equity Fund

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>

---

| | |
|:---|:---|
| **Class** | &nbsp;&nbsp;&nbsp;&nbsp;**Ticker Symbol** |
| A | &nbsp;&nbsp;&nbsp;&nbsp;IGLGX |
| Advisor (Class Adv) | &nbsp;&nbsp;&nbsp;&nbsp;CSGVX |
| C | &nbsp;&nbsp;&nbsp;&nbsp;RGCEX |
| Institutional (Class Inst) | &nbsp;&nbsp;&nbsp;&nbsp;CGEZX |
| Institutional 2 (Class Inst2) | &nbsp;&nbsp;&nbsp;&nbsp;RGERX |
| Institutional 3 (Class Inst3) | &nbsp;&nbsp;&nbsp;&nbsp;CSEYX |
| R | &nbsp;&nbsp;&nbsp;&nbsp;CGERX |

---

Before you invest, you may want to review the Fund's prospectus, which contains more information about the Fund and its risks. You can find the Fund's prospectus, reports to shareholders, statement of additional information and other information about the Fund online at https://www.columbiathreadneedleus.com/resources/literature. If you hold your Fund shares through a financial intermediary (such as a broker-dealer or bank), you can get this information at no cost by contacting that financial intermediary. If you hold your Fund shares directly with the Fund, you can get this information at no cost by calling 800.345.6611 or by sending an email to serviceinquiries@columbiathreadneedle.com. This Summary Prospectus incorporates by reference the Fund's prospectus, dated March 1, 2023, and current Statement of Additional Information.

As with all mutual funds, the Securities and Exchange Commission has not approved or disapproved these securities or passed upon the adequacy of this prospectus. Any representation to the contrary is a criminal offense.

![](g606781imgf9817d881.gif)

------

#### Investment Objective
Columbia Select Global Equity Fund (the Fund) seeks to provide shareholders with long-term capital growth.

#### Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. **You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.** You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the *Choosing a Share Class* section beginning on page 23 of the Fund's prospectus, in *Appendix A* to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under *Sales Charge Waivers* beginning on page S-1.

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Shareholder Fees (fees paid directly from your investment)** | &nbsp;&nbsp;**Shareholder Fees (fees paid directly from your investment)** | &nbsp;&nbsp;**Shareholder Fees (fees paid directly from your investment)** | &nbsp;&nbsp;**Shareholder Fees (fees paid directly from your investment)** |
| | &nbsp;&nbsp;**Class A** | &nbsp;&nbsp;**Class C** | &nbsp;&nbsp;**Classes <br> Adv, Inst, Inst2,<br> Inst3 and R** |
| &nbsp;&nbsp;Maximum sales charge (load) imposed on purchases (as a % of offering price) | &nbsp;&nbsp;5.75% |  |  |
| &nbsp;&nbsp;Maximum deferred sales charge (load) imposed on redemptions (as a % of the lower of the original purchase price or current net asset value) | &nbsp;&nbsp;1.00% <sup>(a)</sup> | &nbsp;&nbsp;&nbsp;1.00% <sup>(b)</sup> |  |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)** | &nbsp;&nbsp;**Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)** | &nbsp;&nbsp;**Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)** | &nbsp;&nbsp;**Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)** | &nbsp;&nbsp;**Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)** | &nbsp;&nbsp;**Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)** | &nbsp;&nbsp;**Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)** | &nbsp;&nbsp;**Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)** |
| | &nbsp;&nbsp;**Class A** | &nbsp;&nbsp;**Class Adv** | &nbsp;&nbsp;**Class C** | &nbsp;&nbsp;**Class Inst** | &nbsp;&nbsp;**Class Inst2** | &nbsp;&nbsp;**Class Inst3** | &nbsp;&nbsp;**Class R** |
| &nbsp;&nbsp;Management fees | &nbsp;&nbsp;0.85% | &nbsp;&nbsp;0.85% | &nbsp;&nbsp;0.85% | &nbsp;&nbsp;0.85% | &nbsp;&nbsp;&nbsp;&nbsp;0.85% | &nbsp;&nbsp;&nbsp;&nbsp;0.85% | &nbsp;&nbsp;0.85% |
| &nbsp;&nbsp;Distribution and/or service (12b-1) fees | &nbsp;&nbsp;0.25% | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;1.00% | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;&nbsp;&nbsp;0.00% | &nbsp;&nbsp;&nbsp;&nbsp;0.00% | &nbsp;&nbsp;0.50% |
| &nbsp;&nbsp;Other expenses | &nbsp;&nbsp;0.15% | &nbsp;&nbsp;0.15% | &nbsp;&nbsp;0.15% | &nbsp;&nbsp;0.15% | &nbsp;&nbsp;&nbsp;&nbsp;0.10% | &nbsp;&nbsp;&nbsp;&nbsp;0.06% | &nbsp;&nbsp;0.15% |
| &nbsp;&nbsp;**Total annual Fund operating expenses** | &nbsp;&nbsp;1.25% | &nbsp;&nbsp;1.00% | &nbsp;&nbsp;2.00% | &nbsp;&nbsp;1.00% | &nbsp;&nbsp;&nbsp;&nbsp;0.95% | &nbsp;&nbsp;&nbsp;&nbsp;0.91% | &nbsp;&nbsp;1.50% |
| &nbsp;&nbsp;Less: Fee waivers and/or expense reimbursements<sup>(c)</sup> | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;(0.01%) | &nbsp;&nbsp;(0.02%) | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;**Total annual Fund operating expenses after fee waivers and/or expense reimbursements** | &nbsp;&nbsp;1.25% | &nbsp;&nbsp;1.00% | &nbsp;&nbsp;2.00% | &nbsp;&nbsp;1.00% | &nbsp;&nbsp;&nbsp;&nbsp;0.94% | &nbsp;&nbsp;&nbsp;&nbsp;0.89% | &nbsp;&nbsp;1.50% |

---

(a) This charge is imposed on
certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with
certain limited exceptions.

(b) This charge applies to
redemptions within 12 months after purchase, with certain limited exceptions.

(c) Columbia
Management Investment Advisers, LLC and certain of its affiliates have contractually agreed to waive fees and/or to reimburse expenses (excluding transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees
and expenses, and infrequent and/or unusual expenses) through February 29, 2024, unless sooner terminated at the sole discretion of the Fund's Board of Trustees (the Board). Under this agreement, the Fund's net operating expenses,
subject to applicable exclusions, will not exceed the annual rates of 1.25% for Class A, 1.00% for Class Adv, 2.00% for Class C, 1.00% for Class Inst, 0.94% for Class Inst2, 0.89% for Class Inst3 and 1.50% for Class R.

#### Example
The following example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example illustrates the hypothetical expenses that you would incur over the time periods indicated, and assumes that:

■ you invest $10,000 in the
applicable class of Fund shares for the periods indicated,

■ your investment has a 5%
return each year, and

■ the
Fund's total annual operating expenses remain the same as shown in the *Annual Fund Operating Expenses* table above.

1 Columbia Select Global Equity Fund

------

*Class C shares' 10-year cost examples below reflect the Class C Shares 8-Year Conversion Policy.* 

<br> Since the waivers and/or reimbursements shown in the *Annual Fund Operating Expenses* table above expire as indicated in the preceding table, they are only reflected in the 1 year example and the first year of the other examples. Although your actual costs may be higher or lower, based on the assumptions listed above, your costs would be:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;**1 year** | &nbsp;&nbsp;&nbsp;&nbsp;**3 years** | &nbsp;&nbsp;&nbsp;&nbsp;**5 years** | &nbsp;&nbsp;&nbsp;&nbsp;**10 years** |
| &nbsp;&nbsp;**Class A (whether or not shares are redeemed)** | &nbsp;&nbsp;&nbsp;&nbsp;$695 | &nbsp;&nbsp;&nbsp;&nbsp;$949 | &nbsp;&nbsp;&nbsp;&nbsp;$1222 | &nbsp;&nbsp;&nbsp;&nbsp;$1999 |
| &nbsp;&nbsp;**Class Adv (whether or not shares are redeemed)** | &nbsp;&nbsp;&nbsp;&nbsp;$102 | &nbsp;&nbsp;&nbsp;&nbsp;$318 | &nbsp;&nbsp;&nbsp;&nbsp;$552 | &nbsp;&nbsp;&nbsp;&nbsp;$1225 |
| &nbsp;&nbsp;**Class C (assuming redemption of all shares at the end of the period)** | &nbsp;&nbsp;&nbsp;&nbsp;$303 | &nbsp;&nbsp;&nbsp;&nbsp;$627 | &nbsp;&nbsp;&nbsp;&nbsp;$1078 | &nbsp;&nbsp;&nbsp;&nbsp;$2134 |
| &nbsp;&nbsp;**Class C (assuming no redemption of shares)** | &nbsp;&nbsp;&nbsp;&nbsp;$203 | &nbsp;&nbsp;&nbsp;&nbsp;$627 | &nbsp;&nbsp;&nbsp;&nbsp;$1078 | &nbsp;&nbsp;&nbsp;&nbsp;$2134 |
| &nbsp;&nbsp;**Class Inst (whether or not shares are redeemed)** | &nbsp;&nbsp;&nbsp;&nbsp;$102 | &nbsp;&nbsp;&nbsp;&nbsp;$318 | &nbsp;&nbsp;&nbsp;&nbsp;$552 | &nbsp;&nbsp;&nbsp;&nbsp;$1225 |
| &nbsp;&nbsp;**Class Inst2 (whether or not shares are redeemed)** | &nbsp;&nbsp;&nbsp;&nbsp;$96 | &nbsp;&nbsp;&nbsp;&nbsp;$302 | &nbsp;&nbsp;&nbsp;&nbsp;$525 | &nbsp;&nbsp;&nbsp;&nbsp;$1165 |
| &nbsp;&nbsp;**Class Inst3 (whether or not shares are redeemed)** | &nbsp;&nbsp;&nbsp;&nbsp;$91 | &nbsp;&nbsp;&nbsp;&nbsp;$288 | &nbsp;&nbsp;&nbsp;&nbsp;$502 | &nbsp;&nbsp;&nbsp;&nbsp;$1118 |
| &nbsp;&nbsp;**Class R (whether or not shares are redeemed)** | &nbsp;&nbsp;&nbsp;&nbsp;$153 | &nbsp;&nbsp;&nbsp;&nbsp;$474 | &nbsp;&nbsp;&nbsp;&nbsp;$818 | &nbsp;&nbsp;&nbsp;&nbsp;$1791 |

---

#### Portfolio Turnover
The Fund may pay transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 61% of the average value of its portfolio.

#### Principal Investment Strategies
Under normal market conditions, at least 80% of the Fund's net assets (including the amount of any borrowings for investment purposes) are invested in equity securities, including securities of companies located in developed and emerging countries. These equity securities generally include common stocks.

The Fund typically employs a focused portfolio investing style, which results in fewer holdings than a fund that seeks to achieve its investment objective by investing in a greater number of issuers.

Under normal circumstances, the Fund generally invests at least 40% of its net assets in companies that maintain their principal place of business or conduct their principal business activities outside the U.S., have their securities traded on non-U.S. exchanges or have been formed under the laws of non-U.S. countries. This 40% minimum investment amount may be reduced to 30% if market conditions for these investments or specific foreign markets are deemed unfavorable. The Fund considers a company to conduct its principal business activities outside the U.S. if it derives at least 50% of its revenue from business outside the U.S. or has at least 50% of its assets outside the U.S.

From time to time, the Fund may focus its investments in certain countries or geographic areas, including Europe.

The Fund may at times emphasize one or more sectors in selecting its investments, including the health care and the information technology sectors.

#### Principal Risks
An investment in the Fund involves risks, including **Market Risk**, **Foreign Securities Risk**, **Focused Portfolio Risk** and **Sector Risk**, among others. Descriptions of these and other principal risks of investing in the Fund are provided below. *There is no assurance that the Fund will achieve its investment objective and you may lose money*. The value of the Fund's holdings may decline, and the Fund's net asset value (NAV) and share price may go down. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The significance of any specific risk to an investment in the Fund will vary over time depending on the composition of the Fund's portfolio, market conditions, and other factors. You should read all of the risk information below carefully, because any one or more of these risks may result in losses to the Fund.

#### Active Management Risk. Due to its active management, the Fund could underperform its benchmark index and/or other funds with similar investment objectives and/or strategies.
**Emerging Market Securities Risk. Securities issued by foreign governments or companies in emerging market countries, such as China, Russia and certain countries in Eastern Europe, the Middle East, Asia, Latin America or Africa, are more likely to have greater exposure to the risks of investing in foreign securities that are described in Foreign Securities Risk. In addition, emerging market countries are more likely to experience instability resulting, for example, from rapid changes or developments in social, political, economic or other conditions. Their economies are**

Columbia Select Global Equity Fund 2

------

usually less mature and their securities markets are typically less developed with more limited trading activity (i.e., lower trading volumes and less liquidity) than more developed countries. Emerging market securities tend to be more volatile, and may be more susceptible to market manipulation, than securities in more developed markets. Many emerging market countries are heavily dependent on international trade and have fewer trading partners, which makes them more sensitive to world commodity prices and economic downturns in other countries, and some have a higher risk of currency devaluations. Due to the differences in the nature and quality of financial information of issuers of emerging market securities, including auditing and financial reporting standards, financial information and disclosures about such issuers may be unavailable or, if made available, may be considerably less reliable than publicly available information about other foreign securities.

**Focused Portfolio Risk. Because the Fund may invest in a limited number of companies, the Fund as a whole is subject to greater risk of loss if any of those securities decline in price.**

**Foreign Securities Risk. Investments in or exposure to securities of foreign companies may involve heightened risks relative to investments in or exposure to securities of U.S. companies. Investing in securities of foreign companies subjects the Fund to the risks associated with an issuer's (and any of its related companies') country of organization and places of business operations, including risks related to political, regulatory, economic, social, diplomatic and other conditions or events (including, for example, military confrontations and actions, war, other conflicts, terrorism and disease/virus outbreaks and epidemics) occurring in the country or region, as well as risks associated with less developed custody and settlement practices. Foreign securities may be more volatile and less liquid than securities of U.S. companies, and are subject to the risks associated with potential imposition of economic and other sanctions against a particular foreign country, its nationals or industries or businesses within the country. In addition, foreign governments may impose withholding or other taxes on the Fund's income, capital gains or proceeds from the disposition of foreign securities, which could reduce the Fund's return on such securities. The performance of the Fund may also be negatively affected by fluctuations in a foreign currency's strength or weakness relative to the U.S. dollar, particularly to the extent the Fund invests a significant percentage of its assets in foreign securities or other assets denominated in currencies other than the U.S. dollar.**

**Geographic Focus Risk. The Fund may be particularly susceptible to risks related to economic, political, regulatory or other events or conditions affecting issuers and countries within the specific geographic regions in which the Fund invests. The Fund's NAV may be more volatile than the NAV of a more geographically diversified fund.**

■  ***Europe. The Fund is particularly susceptible to risks related to economic, political, regulatory or other events or conditions, including acts of war or other conflicts in the region, affecting issuers and countries in Europe. Countries in Europe are often closely connected and interdependent, and events in one European country can have an adverse impact on, and potentially spread to, other European countries. In addition, significant private or public debt problems in a single European Union (EU) country can pose economic risks to the EU as a whole. As a result, the Fund's NAV may be more volatile than the NAV of a more geographically diversified fund. If securities of issuers in Europe fall out of favor, it may cause the Fund to underperform other funds that do not focus their investments in this region of the world. Uncertainty caused by the departure of the United Kingdom (UK) from the EU could have negative impacts on the UK and EU as well as other European economies and the broader global economy including by negatively impacting currency and financial markets. Such impacts could result in increased volatility and illiquidity, and potentially lower economic growth in markets in Europe, which may adversely affect the value of your investment in the Fund.*** 

**Growth Securities Risk. Growth securities typically trade at a higher multiple of earnings than other types of equity securities. Accordingly, the market values of growth securities may never reach their expected market value and may decline in price. In addition, growth securities, at times, may not perform as well as value securities or the stock market in general, and may be out of favor with investors for varying periods of time.**

**Issuer Risk. An issuer in which the Fund invests or to which it has exposure may perform poorly or below expectations, and the value of its securities may therefore decline, which may negatively affect the Fund's performance. Underperformance of an issuer may be caused by poor management decisions, competitive pressures, breakthroughs in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent disclosures, natural disasters, military confrontations and actions, war, other conflicts, terrorism, disease/virus outbreaks, epidemics or other events, conditions and factors which may impair the value of an investment in the Fund.**

**Liquidity Risk. Liquidity risk is the risk associated with any event, circumstance, or characteristic of an investment or market that negatively impacts the Fund's ability to sell, or realize the proceeds from the sale of, an investment at a desirable time or price. Liquidity risk may arise because of, for example, a lack of marketability of the investment, which means that when seeking to sell its portfolio investments, the Fund could find that selling is more difficult than anticipated, especially during times of high market volatility. Market participants attempting to sell the same or a similar instrument at the same time as the Fund could exacerbate the Fund's exposure to liquidity risk. The Fund may**

3 Columbia Select Global Equity Fund

------

have to accept a lower selling price for the holding, sell other liquid or more liquid investments that it might otherwise prefer to hold (thereby increasing the proportion of the Fund's investments in less liquid or illiquid securities), or forego another more appealing investment opportunity. The liquidity of Fund investments may change significantly over time and certain investments that were liquid when purchased by the Fund may later become illiquid, particularly in times of overall economic distress. Changing regulatory, market or other conditions or environments (for example, the interest rate or credit environments) may also adversely affect the liquidity and the price of the Fund's investments. Judgment plays a larger role in valuing illiquid or less liquid investments as compared to valuing liquid or more liquid investments. Price volatility may be higher for illiquid or less liquid investments as a result of, for example, the relatively less frequent pricing of such securities (as compared to liquid or more liquid investments). Generally, the less liquid the market at the time the Fund sells a portfolio investment, the greater the risk of loss or decline of value to the Fund. Overall market liquidity and other factors can lead to an increase in redemptions, which may negatively impact Fund performance and NAV, including, for example, if the Fund is forced to sell investments in a down market. Foreign securities can present enhanced liquidity risks, including as a result of less developed custody, settlement or other practices of foreign markets.

**Market Risk. The Fund may incur losses due to declines in the value of one or more securities in which it invests. These declines may be due to factors affecting a particular issuer, or the result of, among other things, political, regulatory, market, economic or social developments affecting the relevant market(s) more generally. In addition, turbulence in financial markets and reduced liquidity in equity, credit and/or fixed income markets may negatively affect many issuers, which could adversely affect the Fund's ability to price or value hard-to-value assets in thinly traded and closed markets and could cause significant redemptions and operational challenges. Global economies and financial markets are increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such risks might affect companies worldwide. As a result, local, regional or global events such as terrorism, war, other conflicts, natural disasters, disease/virus outbreaks and epidemics or other public health issues, recessions, depressions or other events – or the potential for such events – could have a significant negative impact on global economic and market conditions.**

**Sector Risk. At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business in a related group of industries within one or more economic sectors, including the health care and the information technology sectors. Companies in the same sector may be similarly affected by economic, regulatory, political or market events or conditions, which may make the Fund more vulnerable to unfavorable developments in that group of industries or economic sector than funds that invest more broadly. Generally, the more broadly the Fund invests, the more it spreads risk and potentially reduces the risks of loss and volatility.**

■  ***Health Care Sector. The Fund is more susceptible to the particular risks that may affect companies in the health care sector than if it were invested in a wider variety of companies in unrelated sectors. Companies in the health care sector are subject to certain risks, including restrictions on government reimbursement for medical expenses, government approval of medical products and services, competitive pricing pressures, and the rising cost of medical products and services (especially for companies dependent upon a relatively limited number of products or services), among others. Performance of such companies may be affected by factors including government regulation, obtaining and protecting patents (or the failure to do so), product liability and other similar litigation as well as product obsolescence.*** 

■  ***Information Technology Sector. The Fund is more susceptible to the particular risks that may affect companies in the information technology sector than if it were invested in a wider variety of companies in unrelated sectors. Companies in the information technology sector are subject to certain risks, including the risk that new services, equipment or technologies will not be accepted by consumers and businesses or will become rapidly obsolete. Performance of such companies may be affected by factors including obtaining and protecting patents (or the failure to do so) and significant competitive pressures, including aggressive pricing of their products or services, new market entrants, competition for market share and short product cycles due to an accelerated rate of technological developments. Such competitive pressures may lead to limited earnings and/or falling profit margins. As a result, the value of their securities may fall or fail to rise. In addition, many information technology sector companies have limited operating histories and prices of these companies' securities historically have been more volatile than other securities, especially over the short term. Some companies in the information technology sector are facing increased government and regulatory scrutiny and may be subject to adverse government or regulatory action, which could negatively impact the value of their securities.*** 

Columbia Select Global Equity Fund 4

------

#### Performance Information
The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund's Class A share performance (without sales charges) has varied for each full calendar year shown. If the sales charges were reflected, returns shown would be lower. The table below the bar chart compares the Fund's returns (after applicable sales charges shown in the *Shareholder Fees* table in this prospectus) for the periods shown with a broad measure of market performance.

The performance of one or more share classes shown in the table below begins before the indicated inception date for such share class. The returns shown for each such share class include the returns of the Fund's Class A shares (without applicable sales charges) for periods prior to its inception date.

Except for differences in annual returns resulting from differences in expenses and sales charges (where applicable), the share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities.

The after-tax returns shown in the *Average Annual Total Returns* table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. Your actual after-tax returns will depend on your personal tax situation and may differ from those shown in the table. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class A shares and will vary for other share classes. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares.

**The Fund's past performance (before and after taxes) is no guarantee of how the Fund will perform in the future. Updated performance information can be obtained by calling toll-free 800.345.6611 or visiting columbiathreadneedleus.com.**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Year by Year Total Return (%)<br> as of December 31 Each Year** | &nbsp;&nbsp;&nbsp;&nbsp;**Best and Worst Quarterly Returns<br> During the Period Shown in the Bar Chart** | &nbsp;&nbsp;&nbsp;&nbsp;**Best and Worst Quarterly Returns<br> During the Period Shown in the Bar Chart** | &nbsp;&nbsp;&nbsp;&nbsp;**Best and Worst Quarterly Returns<br> During the Period Shown in the Bar Chart** |
| ![](g606781bg_32.jpg)  | &nbsp;&nbsp;&nbsp;&nbsp; <sub>Best</sub> | <sub>2nd Quarter 2020</sub> | <sub>20.55%</sub> |
| ![](g606781bg_32.jpg)  | &nbsp;&nbsp; <sub>Worst</sub> | <sub>2nd Quarter 2022</sub> | <sub>-18.06%</sub> |

---

5 Columbia Select Global Equity Fund

------

#### Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2022)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;**Share Class <br> Inception Date** | &nbsp;&nbsp;&nbsp;&nbsp;**1 Year** | &nbsp;&nbsp;&nbsp;&nbsp;**5 Years** | &nbsp;&nbsp;&nbsp;&nbsp;**10 Years** |
| &nbsp;&nbsp;**Class A** | &nbsp;&nbsp;&nbsp;&nbsp;05/29/1990 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;returns before taxes |  | &nbsp;&nbsp;&nbsp;&nbsp;-32.28% | &nbsp;&nbsp;&nbsp;&nbsp;7.03% | &nbsp;&nbsp;&nbsp;&nbsp;9.16% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;returns after taxes on distributions |  | &nbsp;&nbsp;&nbsp;&nbsp;-32.28% | &nbsp;&nbsp;&nbsp;&nbsp;5.50% | &nbsp;&nbsp;&nbsp;&nbsp;8.35% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;returns after taxes on distributions and sale of Fund shares |  | &nbsp;&nbsp;&nbsp;&nbsp;-19.11% | &nbsp;&nbsp;&nbsp;&nbsp;5.49% | &nbsp;&nbsp;&nbsp;&nbsp;7.52% |
| &nbsp;&nbsp;**Class Adv returns before taxes** | &nbsp;&nbsp;&nbsp;&nbsp;03/01/2018 | &nbsp;&nbsp;&nbsp;&nbsp;-27.98% | &nbsp;&nbsp;&nbsp;&nbsp;8.59% | &nbsp;&nbsp;&nbsp;&nbsp;9.94% |
| &nbsp;&nbsp;**Class C returns before taxes** | &nbsp;&nbsp;&nbsp;&nbsp;06/26/2000 | &nbsp;&nbsp;&nbsp;&nbsp;-29.39% | &nbsp;&nbsp;&nbsp;&nbsp;7.51% | &nbsp;&nbsp;&nbsp;&nbsp;8.98% |
| &nbsp;&nbsp;**Class Inst returns before taxes** | &nbsp;&nbsp;&nbsp;&nbsp;09/27/2010 | &nbsp;&nbsp;&nbsp;&nbsp;-27.97% | &nbsp;&nbsp;&nbsp;&nbsp;8.59% | &nbsp;&nbsp;&nbsp;&nbsp;10.08% |
| &nbsp;&nbsp;**Class Inst2 returns before taxes** | &nbsp;&nbsp;&nbsp;&nbsp;12/11/2006 | &nbsp;&nbsp;&nbsp;&nbsp;-27.95% | &nbsp;&nbsp;&nbsp;&nbsp;8.65% | &nbsp;&nbsp;&nbsp;&nbsp;10.20% |
| &nbsp;&nbsp;**Class Inst3 returns before taxes** | &nbsp;&nbsp;&nbsp;&nbsp;03/01/2017 | &nbsp;&nbsp;&nbsp;&nbsp;-27.90% | &nbsp;&nbsp;&nbsp;&nbsp;8.69% | &nbsp;&nbsp;&nbsp;&nbsp;10.03% |
| &nbsp;&nbsp;**Class R returns before taxes** | &nbsp;&nbsp;&nbsp;&nbsp;12/11/2006 | &nbsp;&nbsp;&nbsp;&nbsp;-28.35% | &nbsp;&nbsp;&nbsp;&nbsp;8.05% | &nbsp;&nbsp;&nbsp;&nbsp;9.52% |
| &nbsp;&nbsp;**MSCI ACWI (Net) (reflects reinvested dividends net of withholding taxes but reflects no deductions for fees, expenses or other taxes)** |  | &nbsp;&nbsp;&nbsp;&nbsp;-18.36% | &nbsp;&nbsp;&nbsp;&nbsp;5.23% | &nbsp;&nbsp;&nbsp;&nbsp;7.98% |

---

#### Fund Management

#### Investment Manager: Columbia Management Investment Advisers, LLC

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio Management** | &nbsp;&nbsp;&nbsp;&nbsp;**Title** | &nbsp;&nbsp;&nbsp;&nbsp;**Role with Fund** | &nbsp;&nbsp;&nbsp;&nbsp;**Managed Fund Since** |
| David Dudding, CFA | &nbsp;&nbsp;&nbsp;&nbsp;Portfolio Manager | &nbsp;&nbsp;&nbsp;&nbsp;Lead Portfolio Manager | &nbsp;&nbsp;&nbsp;&nbsp;2015 |
| Alex Lee, CFA | &nbsp;&nbsp;&nbsp;&nbsp;Portfolio Manager | &nbsp;&nbsp;&nbsp;&nbsp;Portfolio Manager | &nbsp;&nbsp;&nbsp;&nbsp;2019 |

---

#### Purchase and Sale of Fund Shares
You may purchase or redeem shares of the Fund on any business day by contacting the Fund in the ways described below:

---

| | | |
|:---|:---|:---|
| **Online** | &nbsp;&nbsp;&nbsp;&nbsp;**Regular Mail** | &nbsp;&nbsp;&nbsp;&nbsp;**By Telephone** |
| columbiathreadneedleus.com/investor/ | &nbsp;&nbsp;&nbsp;&nbsp;Columbia Management<br> Investment Services Corp.<br> P.O. Box 219104<br> Kansas City, MO 64121-9104 &nbsp;&nbsp;&nbsp;&nbsp;Columbia Management<br> Investment Services Corp.<br> c/o SS&C GIDS, Inc.<br> 430 W 7<sup>th</sup> Street, Suite 219104<br> Kansas City, MO 64105-1407 | &nbsp;&nbsp;&nbsp;&nbsp;800.422.3737 |

---

You may purchase shares and receive redemption proceeds by electronic funds transfer, by check or by wire. If you maintain your account with a broker-dealer or other financial intermediary, you must contact that financial intermediary to buy, sell or exchange shares of the Fund through your account with the intermediary.

The minimum initial investment amounts for the share classes offered by the Fund are shown below:

#### Minimum Initial Investment

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Class** | &nbsp;&nbsp;**Category of eligible account** | &nbsp;&nbsp;**For accounts other than<br> Systematic Investment<br> Plan accounts (as described in the Fund's Prospectus)** | &nbsp;&nbsp;**For Systematic Investment<br> Plan accounts** |
| &nbsp;&nbsp;**Classes A & C** | &nbsp;&nbsp;All accounts other than IRAs | &nbsp;&nbsp;$2000 | &nbsp;&nbsp;$100 |
| &nbsp;&nbsp;**Classes A & C** | &nbsp;&nbsp;IRAs | &nbsp;&nbsp;$1000 | &nbsp;&nbsp;$100 |
| &nbsp;&nbsp;**Classes Adv & Inst** | &nbsp;&nbsp;All eligible accounts | &nbsp;&nbsp;$0, $1,000 or $2,000<br> depending upon the category<br> of eligible investor | &nbsp;&nbsp;$100 |
| &nbsp;&nbsp;**Classes Inst2 & R** | &nbsp;&nbsp;All eligible accounts |  | &nbsp;&nbsp;N/A |
| &nbsp;&nbsp;**Class Inst3** | &nbsp;&nbsp;All eligible accounts | &nbsp;&nbsp;$0, $1,000, $2,000<br> or $1 million depending<br> upon the category<br> of eligible investor | &nbsp;&nbsp;$100 (for certain<br> eligible investors) |

---

More information about these minimums can be found in the *Buying, Selling and Exchanging Shares - Buying Shares* section of the prospectus. There is no minimum additional investment for any share class.

Columbia Select Global Equity Fund 6

------

#### Tax Information
The Fund normally distributes net investment income and net realized capital gains, if any, to shareholders. These distributions are generally taxable to you as ordinary income, qualified dividend income or capital gains, unless you are investing through a tax-advantaged account, such as a 401(k) plan or an IRA. If you are investing through a tax-advantaged account, you may be taxed upon withdrawals from that account.

#### Payments to Broker-Dealers and Other Financial Intermediaries
If you purchase the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies — including Columbia Management Investment Advisers, LLC (the Investment Manager), Columbia Management Investment Distributors, Inc. (the Distributor) and Columbia Management Investment Services Corp. (the Transfer Agent) — may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your financial advisor to recommend the Fund over another investment. Ask your financial advisor or visit your financial intermediary's website for more information.

![](g606781coltnlogospot.gif)

Columbia Threadneedle Investments is the global brand name of the Columbia and Threadneedle group of companies.<br> The Fund is distributed by Columbia Management Investment Distributors, Inc., 290 Congress Street, Boston, MA 02210.© 2023 Columbia Management Investment Advisers, LLC. All rights reserved.

---

| | |
|:---|:---|
| **columbiathreadneedleus.com** | SUM155_10_N01_(03/23) |

---