Columbia Select Large Cap Growth Fund overview
The Columbia Select Large Cap Growth Fund invests at least 80% of its assets in common stocks of US-based and foreign companies with market caps in the range of companies in the Russell 1000 Growth Index. The fund is managed by Thomas M. Galvin, who is the lead manager and has been managing the fund since 2003. Galvin had managed other share classes that were launched before Class A. The fund’s co-managers, Todd D. Herget and Richard A. Carter, have been with the fund since 2009.
Fund managers look for companies which, according to them, have a potential for long-term growth. The fund has adopted a focused portfolio style, meaning that it invests in a limited number of stocks.
At a certain time, the fund may focus its investments in certain sectors, including the consumer discretionary, healthcare, and information technology and technology-related sectors.
According to information provided by the fund house, information technology was the single-largest sectoral holding of the fund and formed 40% of the portfolio as of February 2016. The healthcare and consumer discretionary sectors were second and third, forming over one-third and 13.3% of the portfolio, respectively. Consumer staples and financials rounded off the top five invested sectors. The fund is not invested in the telecom services, utilities, and energy sectors.
Compared to the Russell 1000 Growth Index, the Columbia Select Large Cap Growth Fund is overweight in the information technology and healthcare sectors while being underweight in all other sectors.
Illumina (ILMN), Monster Beverage (MNST), Mobileye N.V. (MBLY), Vertex Pharmaceuticals (VRTX), and ServiceNow (NOW) were among the fund’s 34 holdings as of the end of February. As of February 2016, the fund was managing assets worth $5.4 billion.
Fee and minimums
The Columbia Select Large Cap Growth Fund – Class A (ELGAX) was founded in September 2007 and has an expense ratio of 1.1%. The fund requires a minimum investment of $2,000 via Class A shares, and there is no minimum subsequent investment. The fund can charge a maximum sales charge of 5.75% of the offering price on the purchase of Class A shares.
In the next article, we’ll look at some of the key metrics of the fund’s performance in the one-year period ended March 18, 2016.