Management Statement Regarding Compliance with Certain Provisions of the Investment Company Act of 1940
June 29, 2023
With respect to securities reflected in the investment account of the fund which are sub-advised by J.P. Morgan Investment Management Inc. (“JPMIM”), we, as members of management of Multi-Manager Directional Alternatives Strategies Fund (the “Fund”), a series of Columbia Funds Series Trust I, are responsible for complying with the requirements of subsections (b) and (c) of Rule 17f-2, Custody of Investments by Registered Management Investment Companies, of the Investment Company Act of 1940. We are also responsible for establishing and maintaining effective internal controls over compliance with those requirements. We have performed an evaluation of the Fund's compliance with the requirements of subsections (b) and (c) of Rule 17f-2 as of March 2, 2023, and from November 1, 2022 through March 2, 2023.
Based on this evaluation, we assert that the Fund was in compliance with the requirements of subsections (b) and (c) of Rule 17f-2 of the Investment Company Act of 1940 as of March 2, 2023, and from November 1, 2022 through March 2, 2023, with respect to securities reflected in the investment account of the Fund which are sub-advised by JPMIM.
Columbia Funds Series Trust I - Multi-Manager Directional Alternatives Strategies Fund
/s/ Daniel J. Beckman |
Daniel J. Beckman President and Principal Executive Officer
/s/ Michael G. Clarke |
Michael G. Clarke Chief Financial Officer, Principal Financial Officer and Senior Vice President
/s/ Joseph Beranek |
Joseph Beranek Treasurer, Chief Accounting Officer and Principal Financial Officer
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Report of Independent Accountants
To the Board of Trustees of Columbia Funds Series Trust I
We have examined management's assertion, included in the accompanying Management Statement Regarding Compliance with Certain Provisions of the Investment Company Act of 1940, that the investment account of Multi-Manager Directional Alternatives Strategies Fund (the “Fund”), a series of Columbia Funds Series Trust I, that is sub-advised by J.P. Morgan Investment Management Inc. complied with the requirements of subsections (b) and (c) of Rule 17f-2 under the Investment Company Act of 1940 (“the Act”) as of March 2, 2023. The Fund’s management is responsible for its assertion and the Fund's compliance with those requirements. Our responsibility is to express an opinion on management's assertion about the Fund's compliance with the specified requirements based on our examination.
Our examination was conducted in accordance with the standards of the Public Company Accounting Oversight Board (United States) and in accordance with attestation standards established by the American Institute of Certified Public Accountants. Those standards require that we plan and perform the examination to obtain reasonable assurance about whether management’s assertion about compliance with the specified requirements is fairly stated, in all material respects, and, accordingly, included examining, on a test basis, evidence about the Fund's compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. Included among our procedures were the following tests performed as of March 2, 2023, and with respect to agreement of security purchases and sales, for the period from November 1, 2022 (the date of our last examination), through March 2, 2023:
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Agreement of 3 security purchases and 3 security sales or maturities since our last report from the books and records of the J.P. Morgan Investment Management Inc. sub-advised investment account of the Fund to broker confirmations or, where broker replies were not received, the application of alternative procedures. |
We believe that our examination provides, and that the evidence we obtained is sufficient and appropriate to provide, a reasonable basis for our opinion. Our examination does not provide a legal determination on the Fund's compliance with the specified requirements.
We are required to be independent and to meet our other ethical responsibilities in accordance with relevant ethical requirements related to the engagement.
In our opinion, management's assertion that the Fund complied with the requirements of subsections (b) and (c) of Rule 17f-2 of the Investment Company Act of 1940 as of March 2, 2023 with respect to securities reflected in the investment account of the Fund which is sub-advised by J.P. Morgan Investment Management Inc. is fairly stated, in all material respects.
This report is intended solely for the information and use of management and the Board of Trustees of Columbia Funds Series Trust I and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than the specified parties.
/s/ PricewaterhouseCoopers LLP
Minneapolis, Minnesota
June 29, 2023
PricewaterhouseCoopers LLP, 45 South 7th Street, Suite 3400, Minneapolis, Minnesota 55402
T: (612) 596 6000; F: (612) 373 7160, www.pwc.com/us