Columbia Emerging Markets Bond Fund

Prospectus Supplement – July 1, 2011

to the Prospectuses, as supplemented, of the following fund:

Fund	Prospectuses Dated
Columbia Emerging Markets Bond Fund	12/30/2010

Fees and Expenses of the Fund

The fee and expense table in the section entitled “Fees and Expenses of the Fund” is hereby replaced with the following:

Shareholder Fees (fees paid directly from your investment)

Shareholder Fees Columbia Emerging Markets Bond Fund	Class A	Class B	Class C	Class I	Class R4	Class W	Class Z
Shareholder Fees Column [Text]	Class A	Class B	Class C	Class I	Class R4	Class W	Class Z
Maximum sales charge (load) imposed on purchases (as a percentage of offering price)	4.75%	none	none	none	none	none	none
Maximum deferred sales charge (load) imposed on redemptions (as a percentage of offering price at the time of purchase, or current net asset value, whichever is less)	1.00%	5.00%	1.00%	none	none	none	none

Annual Fund Operating Expenses		Columbia Emerging Markets Bond Fund	Columbia Emerging Markets Bond Fund Class A	Columbia Emerging Markets Bond Fund Class B	Columbia Emerging Markets Bond Fund Class C	Columbia Emerging Markets Bond Fund Class I	Columbia Emerging Markets Bond Fund Class R4	Columbia Emerging Markets Bond Fund Class W	Columbia Emerging Markets Bond Fund Class Z
Operating Expenses Caption [Text]	[1]	Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Operating Expenses Column [Text]			Class A	Class B	Class C	Class I	Class R4	Class W	Class Z
Management fees			0.53%	0.53%	0.53%	0.53%	0.53%	0.53%	0.53%
Distribution and/or service (12b-1) fees			0.25%	1.00%	1.00%	none	none	0.25%	none
Other expenses			0.43%	0.43%	0.43%	0.15%	0.45%	0.43%	0.43%
Total annual fund operating expenses			1.21%	1.96%	1.96%	0.68%	0.98%	1.21%	0.96%

The Example in the section entitled “Fees and Expenses of the Fund” is hereby replaced with the following:

Example

The Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem your shares at the end of those periods (unless otherwise noted). The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Expense Example Columbia Emerging Markets Bond Fund (USD $)	Expense Example, By Year, Column [Text]	1 year	3 years	5 years	10 years
Class A	Class A (whether or not shares are redeemed)	592	841	1,109	1,876
Class B	Class B (if shares are redeemed)	699	916	1,258	2,095
Class C	Class C (if shares are redeemed)	299	616	1,058	2,290
Class I	Class I (whether or not shares are redeemed)	69	218	379	850
Class R4	Class R4 (whether or not shares are redeemed)	100	312	543	1,206
Class W	Class W (whether or not shares are redeemed)	123	384	666	1,471
Class Z	Class Z (whether or not shares are redeemed)	98	306	532	1,183

Expense Example, No Redemption Columbia Emerging Markets Bond Fund (USD $)	Expense Example, No Redemption, By Year, Column [Text]	1 year	3 years	5 years	10 years
Class B	Class B (if shares are not redeemed)	199	616	1,058	2,095
Class C	Class C (if shares are not redeemed)	199	616	1,058	2,290

[1] Expense ratios have been adjusted to reflect current fees.