Columbia Multi-Advisor Small Cap Value Fund | Class A, B, C, I, R, R3, R4 and R5 Shares

Summary of the Fund

INVESTMENT OBJECTIVE

Columbia Multi-Advisor Small Cap Value Fund (the Fund) seeks to provide shareholders with long-term capital appreciation.

FEES AND EXPENSES OF THE FUND

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on Class A shares of the Fund if you and members of your immediate family (that share the same mailing address) agree to invest in the future at least $50,000 in any of the Columbia, Columbia Acorn or RiverSource funds (the Fund Family). More information about these and other discounts is available from your financial intermediary and under “Reductions/Waivers of Sales Charges — Front-End Sales Charge Reductions” on page S.17 of this prospectus and on page D.1 of Appendix D in the Fund’s Statement of Additional Information (SAI).

Shareholder Fees (fees paid directly from your investment)

Shareholder Fees Columbia Multi-Advisor Small Cap Value Fund Class A, B, C, I, R, R3, R4 and R5 Shares	Class A	Class B	Class C	Class I	Class R	Class R3	Class R4	Class R5
Shareholder Fees Column [Text]	Class A	Class B	Class C	Class I	Class R	Class R3	Class R4	Class R5
Maximum sales charge (load) imposed on purchases (as a percentage of offering price)	5.75%	none	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	none

Annual Fund Operating Expenses Columbia Multi-Advisor Small Cap Value Fund		Class A, B, C, I, R, R3, R4 and R5 Shares	Class A, B, C, I, R, R3, R4 and R5 Shares Class A	Class A, B, C, I, R, R3, R4 and R5 Shares Class B	Class A, B, C, I, R, R3, R4 and R5 Shares Class C	Class A, B, C, I, R, R3, R4 and R5 Shares Class I	Class A, B, C, I, R, R3, R4 and R5 Shares Class R	Class A, B, C, I, R, R3, R4 and R5 Shares Class R3	Class A, B, C, I, R, R3, R4 and R5 Shares Class R4	Class A, B, C, I, R, R3, R4 and R5 Shares Class R5
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 R	Class R3	Class R4	Class R5
Management fees			0.96%	0.96%	0.96%	0.96%	0.96%	0.96%	0.96%	0.96%
Distribution and/or service (12b-1) fees			0.25%	1.00%	1.00%	none	0.50%	0.25%	none	none
Other expenses			0.43%	0.43%	0.43%	0.16%	0.43%	0.45%	0.45%	0.20%
Acquired fund fees and expenses			0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%
Total annual fund operating expenses			1.66%	2.41%	2.41%	1.14%	1.91%	1.68%	1.43%	1.18%
Less: Fee waiver/expense reimbursement	[2]		(0.14%)	(0.14%)	(0.14%)	(0.02%)	(0.14%)	(0.02%)	(0.02%)	(0.02%)
Total annual fund operating expenses after fee waiver/expense reimbursement	[2]		1.52%	2.27%	2.27%	1.12%	1.77%	1.66%	1.41%	1.16%

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. The Example includes contractual commitments to waive fees and reimburse expenses expiring as indicated in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Expense Example Columbia Multi-Advisor Small Cap Value Fund Class A, B, C, I, R, R3, R4 and R5 Shares (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)	721	1,056	1,414	2,421
Class B	Class B (if shares are redeemed)	730	1,038	1,474	2,554
Class C	Class C (if shares are redeemed)	330	738	1,274	2,740
Class I	Class I (whether or not shares are redeemed)	114	361	627	1,389
Class R	Class R (whether or not shares are redeemed)	180	587	1,020	2,226
Class R3	Class R3 (whether or not shares are redeemed)	169	528	912	1,990
Class R4	Class R4 (whether or not shares are redeemed)	144	451	781	1,716
Class R5	Class R5 (whether or not shares are redeemed)	118	373	648	1,435

Expense Example, No Redemption Columbia Multi-Advisor Small Cap Value Fund Class A, B, C, I, R, R3, R4 and R5 Shares (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)	230	738	1,274	2,554
Class C	Class C (if shares are not redeemed)	230	738	1,274	2,740

Portfolio Turnover

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 54% of the average value of its portfolio.

PRINCIPAL INVESTMENT STRATEGIES OF THE FUND

Under normal market conditions, at least 80% of the Fund’s net assets (including the amount of any borrowings for investment purposes) are invested in small cap companies. For these purposes, small cap companies are those that have a market capitalization, at the time of investment, of up to $2.5 billion or that fall within the range of the Russell 2000^® Value Index (Index). The market capitalization range of the companies included within the Index was $26.9 million to $5.4 billion as of May 31, 2011. Over time, the market capitalizations of the companies in the Index will change. As they do, the size of the companies in which the Fund invests may change. The Fund may invest in any types of securities, including common stocks and depository receipts. The Fund may invest up to 25% of its net assets in foreign investments. The Fund will provide shareholders with at least 60 days’ written notice of any change in the 80% policy.

Columbia Management Investment Advisers, LLC (Columbia Management or the investment manager) serves as the investment manager to the Fund and is responsible for the oversight of the Fund’s subadvisers, Barrow, Hanley, Mewhinney & Strauss, LLC (Barrow Hanley), Donald Smith & Co., Inc. (Donald Smith), Metropolitan West Capital Management, LLC (MetWest Capital) and Turner Investment Partners, Inc. (Turner) (collectively, the Subadvisers), which provide day-to-day portfolio management for the Fund. Columbia Management, subject to the oversight of the Fund’s Board of Trustees (Board), decides the proportion of the Fund’s assets to be managed by each Subadviser, and may change these proportions at any time. Each of the Subadvisers acts independently of the others and uses its own methodology for selecting investments. Each of the Subadvisers employs an active investment strategy that focuses on small companies in an attempt to take advantage of what are believed to be undervalued securities. Although this strategy seeks to identify companies with market capitalizations in the range of the Index, the Fund may hold or buy stock in a company that is not included in the Index.

PRINCIPAL RISKS OF INVESTING IN THE FUND

Please remember that with any mutual fund investment you may lose money. Principal risks associated with an investment in the Fund include:

Active Management Risk. Due to its active management, the Fund could underperform other mutual funds with similar investment objectives.

Focused Portfolio Risk. Because the Fund may hold a limited number of securities, the Fund as a whole is subject to greater risk of loss if any of those securities declines in price.

Issuer Risk. An issuer may perform poorly, and therefore, the value of its securities may decline, which would negatively affect the Fund’s performance.

Market Risk. The market value of securities may fall or fail to rise. Market risk may affect a single issuer, sector of the economy, industry, or the market as a whole. The market value of securities may fluctuate, sometimes rapidly and unpredictably.

Multi-Adviser Risk. The Fund has multiple subadvisers. Each subadviser makes investment decisions independently from the other subadviser(s). It is possible that the security selection process of one subadviser will not complement that of the other subadviser(s). As a result, the Fund’s exposure to a given security, industry, sector or market capitalization could be smaller or larger than if the Fund were managed by a single subadviser, which could affect the Fund’s performance.

Quantitative Model Risk. Securities selected using quantitative methods may perform differently from the market as a whole. There can be no assurance that these methodologies will enable the Fund to achieve its objective.

Risks of Foreign Investing. Investments in foreign securities involve certain risks not associated with investments in U.S. companies. Foreign securities in the Fund’s portfolio subject the Fund to the risks associated with investing in the particular country, including the political, regulatory, economic, social and other conditions or events occurring in the country, as well as fluctuations in its currency and the risks associated with less developed custody and settlement practices.

Small Company Risk. Investments in small companies often involve greater risks than investments in larger, more established companies, including less predictable earnings and lack of experienced management, financial resources, product diversification and competitive strengths.

Value Securities Risk. Value securities involve the risk that they may never reach what the portfolio managers believe is their full market value either because the market fails to recognize the stock’s intrinsic worth or the portfolio managers misgauged that worth. They also may decline in price, even though in theory they are already undervalued. Because different types of stocks tend to shift in and out of favor depending on market and economic conditions, the Fund’s performance may sometimes be lower or higher than that of other types of funds (such as those emphasizing growth stocks).

PAST PERFORMANCE

The following bar chart and table provide some illustration of the risks of investing in the Fund by showing, respectively:

• how the Fund’s Class A performance has varied for each full calendar year shown on the bar chart; and

• how the Fund’s average annual total returns compare to recognized measures of market performance shown on the table.

How the Fund has performed in the past (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information can be obtained by calling toll-free 800.345.6611 or visiting columbiamanagement.com.

Class A share information is shown in the bar chart; the sales charge for Class A shares is not reflected in the bar chart. If the sales charge was reflected, returns would be lower than those shown.

After-tax returns are shown only for Class A shares. After-tax returns for the other classes will vary. After-tax returns are calculated using the highest historical individual federal marginal income tax rate and do not reflect the impact of state and local taxes. Actual after-tax returns will depend on your tax situation and most likely will differ from the returns shown in the table. If you hold your shares in a tax-deferred account, such as a 401(k) plan or an IRA, the after-tax returns do not apply to you since you will not incur taxes until you begin to withdraw from your account.

CLASS A ANNUAL TOTAL RETURNS (BEFORE SALES CHARGE)

(calendar year)

During the periods shown:

• Highest return for a calendar quarter was +26.55% (quarter ended Sept. 30, 2009).

• Lowest return for a calendar quarter was –25.30% (quarter ended Dec. 31, 2008).

• Class A year-to-date return was +3.97% at June 30, 2011.

Average Annual Total Returns (after applicable sales charges) (for periods ended Dec. 31, 2010)

Average Annual Total Returns Columbia Multi-Advisor Small Cap Value Fund Class A, B, C, I, R, R3, R4 and R5 Shares	Column	Label	Index No Deduction for Fees, Expenses, Taxes [Text]	1 year	5 years	Since inception	Inception date
before taxes Class A	Columbia Multi-Advisor Small Cap Value Fund:	Class A — before taxes		19.16%	4.85%	8.15%	Jun. 18, 2001
before taxes Class B	Columbia Multi-Advisor Small Cap Value Fund:	Class B — before taxes		20.41%	5.11%	8.18%	Jun. 18, 2001
before taxes Class C	Columbia Multi-Advisor Small Cap Value Fund:	Class C — before taxes		24.59%	5.43%	8.19%	Jun. 18, 2001
before taxes Class I	Columbia Multi-Advisor Small Cap Value Fund:	Class I — before taxes		26.95%	6.54%	7.43%	Mar. 04, 2004
before taxes Class R	Columbia Multi-Advisor Small Cap Value Fund:	Class R — before taxes		25.98%		3.08%	Dec. 11, 2006
before taxes Class R3	Columbia Multi-Advisor Small Cap Value Fund:	Class R3 — before taxes		26.51%		3.50%	Dec. 11, 2006
before taxes Class R4	Columbia Multi-Advisor Small Cap Value Fund:	Class R4 — before taxes		26.77%	6.35%	9.02%	Jun. 18, 2001
before taxes Class R5	Columbia Multi-Advisor Small Cap Value Fund:	Class R5 — before taxes		27.08%		3.87%	Dec. 11, 2006
after taxes on distributions Class A	Columbia Multi-Advisor Small Cap Value Fund:	Class A — after taxes on distributions		19.16%	3.36%	6.79%	Jun. 18, 2001
after taxes on distributions and redemption of fund shares Class A	Columbia Multi-Advisor Small Cap Value Fund:	Class A — after taxes on distributions and redemption of fund shares		12.45%	3.60%	6.68%	Jun. 18, 2001
Russell 2000® Value Index		Russell 2000® Value Index	(reflects no deduction for fees, expenses or taxes)	24.50%	3.52%
Russell 2000® Value Index Class A, B, C and R4 Since inception, 2001-06-18						7.89%	Jun. 18, 2001
Russell 2000® Value Index Class I Since inception, 2004-03-04						5.20%	Mar. 04, 2004
Russell 2000® Value Index Class R, R3 and R5 Since inception, 2006-12-11						(0.90%)	Dec. 11, 2006
Lipper Small-Cap Value Funds Index		Lipper Small-Cap Value Funds Index	(reflects no deduction for fees or taxes)	25.74%	4.66%
Lipper Small-Cap Value Funds Index Class A, B, C and R4 Since inception, 2001-06-18						8.81%	Jun. 18, 2001
Lipper Small-Cap Value Funds Index Class I Since inception, 2004-03-04						6.34%	Mar. 04, 2004
Lipper Small-Cap Value Funds Index Class R, R3 and R5 Since inception, 2006-12-11						1.67%	Dec. 11, 2006

Fund performance information prior to March 7, 2011 represents that of the Fund as a series of RiverSource Managers Series, Inc., a Minnesota corporation. The Fund was reorganized into a series of Columbia Funds Series Trust II, a Massachusetts business trust, on that date.

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

[2] Columbia Management Investment Advisers, LLC and certain of its affiliates have contractually agreed to waive fees and/or to reimburse expenses (excluding certain fees and expenses, such as transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees and expenses, and extraordinary expenses) until July 31, 2012, unless sooner terminated at the sole discretion of the Fund's Board of Trustees. Under this agreement, the Fund's net operating expenses will not exceed 1.50% for Class A, 2.25% for Class B, 2.25% for Class C, 1.10% for Class I, 1.75% for Class R, 1.65% for Class R3, 1.40% for Class R4 and 1.15% for Class R5.