Supplement dated
November 12, 2026
to the Prospectus and Summary Prospectus, as supplemented (as applicable), of each of the following funds (the
Funds):
| |
Prospectus/Summary Prospectus Dated |
Columbia Funds Series Trust I |
|
Multi-Manager Directional Alternative Strategies Fund |
|
Multi-Manager Large Cap Growth Strategies Fund |
|
Columbia Funds Series Trust II |
|
Multi-Manager Value Strategies Fund |
|
Effective January 1, 2027 (the Effective Date), the eligible
purchasers of the Funds will be expanded to make the Funds
available through wrap fee programs sponsored and/or managed by
Ameriprise Financial or its affiliates and other accounts maintained by Ameriprise Financial for its clients. Accordingly, on the Effective Date, all applicable
sections of each Fund's Prospectus and Summary Prospectus will be revised to reflect the expanded eligibility.
Shareholders should retain this Supplement for future
reference.