497 1 c63079ve497.htm 497 e497
(COLUMBIAMANAGEMENT LOGO)
Prospectus Supplement — February 17, 2011
to the Prospectus, as supplemented, of each of the following funds:
     
Fund   Prospectus Dated
Disciplined Asset Allocation Portfolios — Aggressive
   04/30/2010
Disciplined Asset Allocation Portfolios — Conservative
   04/30/2010
Disciplined Asset Allocation Portfolios — Moderate
   04/30/2010
Disciplined Asset Allocation Portfolios — Moderately Aggressive
   04/30/2010
Disciplined Asset Allocation Portfolios — Moderately Conservative
   04/30/2010
RiverSource Variable Portfolio — Balanced Fund
   04/30/2010
RiverSource Variable Portfolio — Cash Management Fund
   04/30/2010
RiverSource Variable Portfolio — Core Equity Fund
   04/30/2010
RiverSource Variable Portfolio — Diversified Bond Fund
   04/30/2010
RiverSource Variable Portfolio — Diversified Equity Income Fund
   04/30/2010
RiverSource Variable Portfolio — Dynamic Equity Fund
   04/30/2010
RiverSource Variable Portfolio — Global Bond Fund
   04/30/2010
RiverSource Variable Portfolio — Global Inflation Protected Securities Fund
   04/30/2010
RiverSource Variable Portfolio — High Yield Bond Fund
   04/30/2010
RiverSource Variable Portfolio — Income Opportunities Fund
   04/30/2010
RiverSource Variable Portfolio — Limited Duration Bond Fund
   04/14/2010
RiverSource Variable Portfolio — Mid Cap Growth Fund
   04/30/2010
RiverSource Variable Portfolio — Mid Cap Value Fund
   04/30/2010
RiverSource Variable Portfolio — S&P 500 Index Fund
   04/30/2010
RiverSource Variable Portfolio — Short Duration U.S. Government Fund
   04/30/2010
RiverSource Variable Portfolio — Strategic Income Fund
   04/14/2010
Seligman Capital Portfolio
   04/30/2010
Seligman Communications and Information Portfolio
   04/30/2010
Seligman Global Technology Portfolio
   04/30/2010
Seligman Large-Cap Value Portfolio
   04/30/2010
Seligman Smaller-Cap Value Portfolio
   04/30/2010
Seligman Variable Portfolio — Growth Fund
   04/30/2010
Seligman Variable Portfolio — Larger-Cap Value Fund
   04/30/2010
Seligman Variable Portfolio — Smaller-Cap Value Fund
   04/30/2010
Threadneedle Variable Portfolio — Emerging Markets Fund
   04/30/2010
Threadneedle Variable Portfolio — International Opportunity Fund
   04/30/2010
Variable Portfolio — Aggressive Portfolio
   04/14/2010
Variable Portfolio — AllianceBernstein International Value Fund
   04/14/2010
Variable Portfolio — American Century Diversified Bond Fund
   04/14/2010
Variable Portfolio — American Century Growth Fund
   04/14/2010
Variable Portfolio — Columbia Wanger International Equities Fund
   04/14/2010
Variable Portfolio — Columbia Wanger U.S. Equities Fund
   04/14/2010
Variable Portfolio — Conservative Portfolio
   04/14/2010
Variable Portfolio — Davis New York Venture Fund
   04/30/2010
Variable Portfolio — Eaton Vance Floating-Rate Income Fund
   04/14/2010
Variable Portfolio — Goldman Sachs Mid Cap Value Fund
   04/30/2010
Variable Portfolio — Invesco International Growth Fund
   04/14/2010
Variable Portfolio — J.P. Morgan Core Bond Fund
   04/14/2010
Variable Portfolio — Jennison Mid Cap Growth Fund
   04/14/2010
Variable Portfolio — Marsico Growth Fund
   04/14/2010
Variable Portfolio — MFS Value Fund
   04/14/2010
Variable Portfolio — Moderate Portfolio
   04/14/2010
Variable Portfolio — Moderately Aggressive Portfolio
   04/14/2010
Variable Portfolio — Moderately Conservative Portfolio
   04/14/2010
Variable Portfolio — Mondrian International Small Cap Fund
   04/14/2010
Variable Portfolio — Morgan Stanley Global Real Estate Fund
   04/14/2010
Variable Portfolio — NFJ Dividend Value Fund
   04/14/2010
Variable Portfolio — Nuveen Winslow Large Cap Growth Fund
   04/14/2010
Variable Portfolio — Partners Small Cap Growth Fund
   04/14/2010
Variable Portfolio — Partners Small Cap Value Fund
   04/30/2010
Variable Portfolio — PIMCO Mortgage-Backed Securities Fund
   04/14/2010
Variable Portfolio — Pyramis® International Equity Fund
   04/14/2010
Variable Portfolio — Wells Fargo Short Duration Government Fund
   04/14/2010

 

 

References to “Fund” throughout this supplement refer to the foregoing individual funds, singularly or collectively as the context requires.
SHAREHOLDER MEETINGS
At a Joint Special Meeting of Shareholders held on February 15, 2011, shareholders of the Funds listed in Table 1 below approved the corresponding proposals indicated by an “X” in the table. Not all proposals apply to all Funds (a shaded box indicates that the particular proposal does not apply to the particular Fund). Following Table 1 is a brief discussion of each of the Fund proposals that were approved by shareholders.
Table 1. Shareholder Meeting Approvals
                             
        2. Investment        
        Management        
        Services        
        Agreement        
    1. Board Election   Proposal   3. Manager of   4. Reorganization
Fund   Proposal   2a   2b   2c   2d   Managers Proposal   Proposal
Disciplined Asset Allocation Portfolios — Aggressive
   X                       X
Disciplined Asset Allocation Portfolios — Conservative
   X                       X
Disciplined Asset Allocation Portfolios — Moderate
   X                       X
Disciplined Asset Allocation Portfolios — Moderately Aggressive
   X                       X
Disciplined Asset Allocation Portfolios — Moderately Conservative
   X                       X
RiverSource Variable Portfolio — Balanced Fund
   X               X        
RiverSource Variable Portfolio — Cash Management Fund
   X   X                    
RiverSource Variable Portfolio — Core Equity Fund
   X   X                    
RiverSource Variable Portfolio — Diversified Bond Fund
   X       X                
RiverSource Variable Portfolio — Diversified Equity Income Fund
   X               X        
RiverSource Variable Portfolio — Dynamic Equity Fund
   X               X        
RiverSource Variable Portfolio — Global Bond Fund
   X   X                    
RiverSource Variable Portfolio — Global Inflation Protected Securities Fund
   X   X                    
RiverSource Variable Portfolio — High Yield Bond Fund
   X   X                    
RiverSource Variable Portfolio — Income Opportunities Fund
   X   X                    
RiverSource Variable Portfolio — Limited Duration Bond Fund
   X   X                    
RiverSource Variable Portfolio — Mid Cap Growth Fund
   X               X        
RiverSource Variable Portfolio — Mid Cap Value Fund
   X               X        
RiverSource Variable Portfolio — S&P 500 Index Fund
   X   X                    
RiverSource Variable Portfolio — Short Duration U.S. Government Fund
   X   X                    
RiverSource Variable Portfolio — Strategic Income Fund
   X                       X
Seligman Capital Portfolio
   X                       X
Seligman Communications and Information Portfolio
   X                       X
Seligman Global Technology Portfolio
   X   X               X    
Seligman Large-Cap Value Portfolio
   X                       X
Seligman Smaller-Cap Value Portfolio
   X                       X
Seligman Variable Portfolio — Growth Fund
   X               X        
Seligman Variable Portfolio — Larger-Cap Value Fund
   X               X        
Seligman Variable Portfolio — Smaller-Cap Value Fund
   X               X        
Threadneedle Variable Portfolio — Emerging Markets Fund
   X           X            
Threadneedle Variable Portfolio — International Opportunity Fund
   X           X            
Variable Portfolio — Aggressive Portfolio
   X   X                    
Variable Portfolio — AllianceBernstein International Value Fund
   X   X                    
Variable Portfolio — American Century Diversified Bond Fund
   X   X                    
Variable Portfolio — American Century Growth Fund
   X   X                    
Variable Portfolio — Columbia Wanger International Equities Fund
   X   X                    
Variable Portfolio — Columbia Wanger U.S. Equities Fund
   X   X                    
Variable Portfolio — Conservative Portfolio
   X   X                    
Variable Portfolio — Davis New York Venture Fund
   X           X            
Variable Portfolio — Eaton Vance Floating-Rate Income Fund
   X   X                    
Variable Portfolio — Goldman Sachs Mid Cap Value Fund
   X           X            
Variable Portfolio — Invesco International Growth Fund
   X   X                    

2

 

                             
        2. Investment        
        Management        
        Services        
        Agreement        
    1. Board Election   Proposal   3. Manager of   4. Reorganization
Fund   Proposal   2a   2b   2c   2d   Managers Proposal   Proposal
Variable Portfolio — J.P. Morgan Core Bond Fund
   X   X                    
Variable Portfolio — Jennison Mid Cap Growth Fund
   X   X                    
Variable Portfolio — Marsico Growth Fund
   X   X                    
Variable Portfolio — MFS Value Fund
   X   X                    
Variable Portfolio — Moderate Portfolio
   X   X                    
Variable Portfolio — Moderately Aggressive Portfolio
   X   X                    
Variable Portfolio — Moderately Conservative Portfolio
   X   X                    
Variable Portfolio — Mondrian International Small Cap Fund
   X   X                    
Variable Portfolio — Morgan Stanley Global Real Estate Fund
   X   X                    
Variable Portfolio — NFJ Dividend Value Fund
   X   X                    
Variable Portfolio — Nuveen Winslow Large Cap Growth Fund
   X   X                    
Variable Portfolio — Partners Small Cap Growth Fund
   X   X                    
Variable Portfolio — Partners Small Cap Value Fund
   X           X            
Variable Portfolio — PIMCO Mortgage-Backed Securities Fund
   X   X                    
Variable Portfolio — Pyramis® International Equity Fund
   X   X                    
Variable Portfolio — Wells Fargo Short Duration Government Fund
   X   X                    
1. Board Election Proposal. Shareholders of the Funds indicated in Table 1 voted to elect all directors/trustees nominated for election (“Board members”). It is expected that, effective June 1, 2011, the Funds will have a Board comprised of 16 members.
2. Investment Management Services Agreement (“IMS Agreement”) Proposal. Shareholders of the Funds indicated in Table 1 approved a new IMS Agreement between either (i) RiverSource Variable Series Trust or (ii) Seligman Portfolios, Inc. (each, a “Company”), on behalf of the Fund, and Columbia Management Investment Advisers, LLC (“Columbia Management”). The IMS Agreements are designed to achieve consistent investment management service and fee structures across all funds managed by Columbia Management and distributed by Columbia Management Investment Distributors, Inc. (the “Columbia Family of Funds”). Specifically, as further described below, the IMS Agreement approval affects different Funds in different ways:
2a. Terms and Conditions. For the Funds indicated in Column 2a of Table 1, the approved IMS Agreement includes changes to the terms and conditions of the Fund’s IMS Agreement, but neither increases the investment advisory fee rates nor eliminates a performance incentive adjustment (“PIA”) because a PIA does not currently exist for such Funds (“Non-Fee Changes”).
2b. Terms and Conditions / Change in Fee Schedule. For the Fund indicated in Column 2b of Table 1 (RiverSource Variable Portfolio — Diversified Bond Fund), the approved IMS Agreement includes (i) the Non-Fee Changes and (ii) an increase to the investment advisory fee rates payable to Columbia Management at certain asset levels. Table 2 below outlines the current IMS fee schedule, the new approved IMS fee schedule and the anticipated date on which the new IMS fee schedule will be implemented for the Fund.
2c. Terms and Conditions / Removal of PIA. For the Funds indicated in Column 2c of Table 1, the approved IMS Agreement includes (i) the Non-Fee Changes and (ii) the elimination of the PIA.
2d. Terms and Conditions / Change in Fee Schedule / Removal of PIA. For the Funds indicated in Column 2d of Table 1, the approved IMS Agreement includes (i) the Non-Fee Changes, (ii) an increase to the investment advisory fee rates payable to Columbia Management at all or most asset levels and (iii) the elimination of the PIA. Table 2 below outlines the current IMS fee schedule, the new approved IMS fee schedule and the anticipated date on which the new IMS fee schedule will be implemented for these Funds.

3

 

Table 2. IMS Fee Schedules
                             
    Current IMS Fee Schedule     New IMS Fee Schedule     New IMS Fee Schedule
    Net Assets   Annual rate at     Net Assets   Annual rate at     to be implemented on
Fund   (billions)   each asset level     (billions)   each asset level     or about
 
RiverSource Variable
   First $1.0     0.530 %   First $0.5     0.660 %   April 30, 2011
Portfolio — Balanced Fund
   Next $1.0     0.505 %   Next $0.5     0.615 %    
 
   Next $1.0     0.480 %   Next $0.5     0.570 %    
 
   Next $3.0     0.455 %   Next $1.5     0.520 %    
 
   Next $1.5     0.430 %   Next $3.0     0.510 %    
 
   Next $2.5     0.410 %   Over $6.0     0.490 %    
 
   Next $5.0     0.390 %                
 
   Next $9.0     0.370 %                
 
   Over $24.0     0.350 %                
RiverSource Variable
   First $1.0     0.480 %   First $1.0     0.430 %   April 30, 2011
Portfolio — Diversified Bond
   Next $1.0     0.455 %   Next $1.0     0.420 %    
Fund
   Next $1.0     0.430 %   Next $4.0     0.400 %    
 
   Next $3.0     0.405 %   Next $1.5     0.380 %    
 
   Next $1.5     0.380 %   Next $1.5     0.365 %    
 
   Next $1.5     0.365 %   Next $3.0     0.360 %    
 
   Next $1.0     0.360 %   Next $8.0     0.350 %    
 
   Next $5.0     0.350 %   Next $4.0     0.340 %    
 
   Next $5.0     0.340 %   Next $26.0     0.320 %    
 
   Next $4.0     0.330 %   Over $50.0     0.300 %    
 
   Next $26.0     0.310 %                
 
   Over $50.0     0.290 %                
RiverSource Variable
   First $1.0     0.600 %   First $0.5     0.660 %   April 30, 2011
Portfolio — Diversified
   Next $1.0     0.575 %   Next $0.5     0.615 %    
Equity Income Fund
   Next $1.0     0.550 %   Next $0.5     0.570 %    
 
   Next $3.0     0.525 %   Next $1.5     0.520 %    
 
   Next $1.5     0.500 %   Next $3.0     0.510 %    
 
   Next $2.5     0.485 %   Over $6.0     0.490 %    
 
   Next $5.0     0.470 %                
 
   Next $5.0     0.450 %                
 
   Next $4.0     0.425 %                
 
   Next $26.0     0.400 %                
 
   Over $50.0     0.375 %                
RiverSource Variable
   First $1.0     0.600 %   First $0.5     0.710 %   RiverSource Variable
Portfolio — Dynamic Equity
   Next $1.0     0.575 %   Next $0.5     0.660 %   Portfolio - Dynamic
Fund
   Next $1.0     0.550 %   Next $2.0     0.565 %   Equity Fund:
 
   Next $3.0     0.525 %   Next $3.0     0.560 %   April 30, 2011
Seligman Variable Portfolio
   Next $1.5     0.500 %   Over $6.0     0.540 %    
- Larger-Cap Value Fund
   Next $2.5     0.485 %               Seligman Variable
 
   Next $5.0     0.470 %               Portfolio - Larger-Cap
 
   Next $5.0     0.450 %               Value Fund:
 
   Next $4.0     0.425 %               March 1, 2011
 
   Next $26.0     0.400 %                
 
   Over $50.0     0.375 %                

4

 

                             
    Current IMS Fee Schedule     New IMS Fee Schedule     New IMS Fee Schedule
    Net Assets   Annual rate at     Net Assets   Annual rate at     to be implemented on
Fund   (billions)   each asset level     (billions)   each asset level     or about
 
RiverSource Variable
   First $1.0     0.700 %   First $0.5     0.760 %   RiverSource Variable
Portfolio — Mid Cap Growth
   Next $1.0     0.675 %   Next $0.5     0.715 %   Portfolio - Mid Cap
Fund
   Next $1.0     0.650 %   Next $0.5     0.670 %   Growth Fund:
 
   Next $3.0     0.625 %   Over $1.5     0.620 %   April 1, 2011
RiverSource Variable
   Next $1.5     0.600 %                
Portfolio — Mid Cap Value
   Next $2.5     0.575 %               RiverSource Variable
Fund
   Next $5.0     0.550 %               Portfolio - Mid Cap
 
   Next $9.0     0.525 %               Value Fund:
 
   Next $26.0     0.500 %               April 30, 2011
 
   Over $50.0     0.475 %                
Seligman Variable Portfolio
   First $1.0     0.600 %   First $0.5     0.710 %   April 30, 2011
- Growth Fund
   Next $1.0     0.575 %   Next $0.5     0.665 %    
 
   Next $1.0     0.550 %   Next $0.5     0.620 %    
 
   Next $3.0     0.525 %   Next $1.5     0.570 %    
 
   Next $1.5     0.500 %   Next $3.0     0.560 %    
 
   Next $2.5     0.485 %   Over $6.0     0.540 %    
 
   Next $5.0     0.470 %                
 
   Next $5.0     0.450 %                
 
   Next $4.0     0.425 %                
 
   Next $26.0     0.400 %                
 
   Over $50.0     0.375 %                
Seligman Variable Portfolio
   First $0.25     0.790 %   First $0.5     0.790 %   March 1, 2011
- Smaller-Cap Value Fund
   Next $0.25     0.765 %   Next $0.5     0.745 %    
 
   Next $0.25     0.740 %   Over $1.0     0.700 %    
 
   Next $0.25     0.715 %                
 
   Next $1.0     0.690 %                
 
   Over $2.0     0.665 %                
3. Manager of Managers Proposal. Shareholders of the Fund indicated in Table 1 (Seligman Global Technology Portfolio) approved a policy authorizing Columbia Management, the Fund’s investment manager, to enter into and materially amend subadvisory agreements in the future, with the approval of the Board, but without obtaining approval from shareholders of such Fund. If there is a hiring of a subadviser in the future for the Fund, within 90 days of such hiring, the Fund will provide shareholders with an information statement that contains substantially the same information about the subadviser, the subadvisory agreement and the subadvisory fee that would otherwise have been required to be sent to shareholders in a proxy statement.
4. Reorganization Proposal. Shareholders of the Funds indicated in Table 1 (each, a “Selling Fund”) approved an Agreement and Plan of Reorganization, which provides for the reorganization of the Selling Fund into another fund in the Columbia Family of Funds (each, a “Buying Fund”). Table 3 below identifies each Selling Fund, its corresponding Buying Fund and the anticipated date on which each reorganization is expected to occur.
Table 3. Reorganizations
         
        Reorganization
        to occur on or
Selling Fund   Buying Fund   about
Disciplined Asset Allocation Portfolios — Aggressive
  Variable Portfolio — Aggressive Portfolio   April 29, 2011
Disciplined Asset Allocation Portfolios — Conservative
  Variable Portfolio — Conservative Portfolio   April 29, 2011
Disciplined Asset Allocation Portfolios — Moderate
  Variable Portfolio — Moderate Portfolio   April 29, 2011
Disciplined Asset Allocation Portfolios — Moderately Aggressive
  Variable Portfolio — Moderately Aggressive Portfolio   April 29, 2011
Disciplined Asset Allocation Portfolios — Moderately Conservative
  Variable Portfolio — Moderately Conservative Portfolio   April 29, 2011
RiverSource Variable Portfolio — Strategic Income Fund
  Columbia Strategic Income Fund, Variable Series   April 29, 2011
Seligman Capital Portfolio
  Columbia Mid Cap Growth Fund, Variable Series   April 29, 2011
Seligman Communications and Information Portfolio
  Seligman Global Technology Portfolio   March 11, 2011
Seligman Large-Cap Value Portfolio
  Seligman Variable Portfolio — Larger-Cap Value Fund   March 11, 2011
Seligman Smaller-Cap Value Portfolio
  Seligman Variable Portfolio — Smaller-Cap Value Fund   March 11, 2011
S-6466-152 A (2/11)

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