Columbia Income Builder Fund Institutional Class CBUZX Fund Analysis

Columbia Income Builder’s well-established managers implement a straightforward approach using mediocre building blocks. Despite impressive results and a higher yield compared with peers, investors have had to stomach higher volatility over the past decade. Gene Tannuzzo, Columbia Threadneedle’s global head of fixed income, leads this strategy. A named manager since 2010, he took the reins as a lead in 2021 when longtime manager Colin Lundgren retired. Lundgren’s retirement also coincided with the promotion of Alex Christensen to portfolio manager after working on this strategy since 2018. The comanagers have access to the firm’s broad resources, including the global fixed-income, equity, and asset-allocation teams. While the two are accomplished multisector bond managers, their expertise is somewhat diluted by the nature of this strategy’s fund-of-funds structure, which has an average lineup of underlying funds. Just 14% of assets resided in funds under full analyst coverage.