On June 28, 2023, Columbia announced that all share classes of Columbia Small Cap Growth’s U.S. mutual fund will re-open to new investors on or about July 31, 2023. The strategy retains its Morningstar Medalist Ratings of Silver or Bronze, depending on share class fees. The re-opening is reasonable and should not be an issue. Columbia prudently closed the strategy to new investors in June 2021 when it had about $3.5 billion in assets under management. But since then, performance has been disappointing, and assets dwindled to less than $2 billion as of May 2023. Although the strategy has outpaced the Russell 2000 Growth Index since lead manager Dan Cole’s January 2015 start, recent performance showcased its volatile profile, particularly in a rough 2021 and 2022. Year-to-date results have been encouraging, however.
Morningstar’s Analysis CGOAX
Will CGOAX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.