Wanger Select loses non-diversified status after three years of diversified investments

By Toni Weeks

San Diego, Jan. 24 - Wanger Advisors Trust announced that the Wanger Select will no longer be classified as a non-diversified investment company, effective Jan. 31.

According to a 497 filing with the Securities and Exchange Commission, the fund's investments remained diversified for a period of about three years, resulting in its loss of ability to invest in a non-diversified manner.

The fund is now considered a diversified investment company and, unless it seeks and obtains the approval of shareholders, it will not be able to become a non-diversified investment company within the meaning of Section 5(b) of the Investment Company Act of 1940.

The fund's investment adviser is Chicago-based Columbia Wanger Asset Management, LLC.

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