497 1 c63213ce497.htm 497 e497
 
         
 
Prospectus and Statement of Additional Information (SAI) Supplement — Dated Feb. 28, 2011*
         
Fund Name
  Prospectus Form # (date)   SAI Dated
Seligman Communications and Information Portfolio
  SL-9915-99 A (April 30, 2010)   April 30, 2010
 
 
The information under the caption “Fund Management” in the Summary of the Fund section has been superseded and replaced with the following:
 
         
Portfolio Manager
 
Title
 
Managed Fund Since
 
Paul H. Wick
  Portfolio Manager   1994
Richard M. Parower
  Co-Portfolio Manager   2005
Sangeeth Peruri
  Technology Team member   2008
Vishal Saluja
  Technology Team member   2011
Sushil Wagle
  Technology Team member   2011
 
The rest of this section remains the same.
 
The portfolio manager information under the caption “Fund Management and Compensation” in the More Information about the Fund section has been superseded and replaced with the following:
 
Portfolio Manager(s).  The Fund is managed by the Columbia Seligman Technology Team at Columbia Management. The portfolio managers responsible for the day-to-day management of the Fund are:
 
Paul H. Wick, Portfolio Manager
 
•  Managed the Fund since 1994.
 
•  Prior to the investment manager’s acquisition of J. & W. Seligman & Co. Incorporated (Seligman) in Nov. 2008, Mr. Wick was a Managing Director of Seligman.
 
•  Joined Seligman in 1987.
 
•  Began investment career in 1987.
 
•  BA, Duke; MBA, Duke/Fuqua.
 
Richard M. Parower, CFA, Co-Portfolio Manager
 
•  Managed the Fund since 2005.
 
•  Mr. Parower provides assistance to Mr. Wick in managing the Fund through his research and contributions to the investment decisions with respect to companies in the application software, information technology services and international sectors.
 
•  Prior to the investment manager’s acquisition of Seligman in Nov. 2008, Mr. Parower was a Managing Director of Seligman.
 
•  Joined Seligman in 2000.
 
•  Began investment career in 1988.
 
•  BA, Washington University; MBA, Columbia University.
 
Sangeeth Peruri, Technology Team member
 
•  Management responsibilities for the Fund since 2008.
 
•  Mr. Peruri provides assistance to Mr. Wick in managing the Fund through his research and contributions to the investment decisions with respect to companies in the analog and communications ICs, as well as other subsectors of the semiconductor sector.
 
•  Prior to the investment manager’s acquisition of Seligman in Nov. 2008, Mr. Peruri was a Managing Director of Seligman.
 
•  Joined Seligman in 2000.
 
•  Began investment career in 1999.
 
•  BA, Brown University.
 
SL-9915-2 A (2/11)6
 
* Valid until next prospectus update.

 

Vishal Saluja, Technology Team member
 
•  Management responsibilities for the Fund since 2011.
 
•  Mr. Saluja provides assistance to Mr. Wick in managing the Fund through his research and contributions to the investment decisions with respect to companies in the life science technology and electronic design software sectors.
 
•  Prior to the investment manager’s acquisition of Seligman in Nov. 2008, Mr. Saluja was a Managing Director of Seligman.
 
•  Joined Seligman in 2000.
 
•  Began investment career in 1990.
 
•  B.S. and Bachelor of Applied Science, Wharton School, University of Pennsylvania; MBA, Stanford University.
 
Sushil Wagle, Technology Team member
 
•  Management responsibilities for the Fund since 2011.
 
•  Mr. Wagle provides assistance to Mr. Wick in managing the Fund through his research and contributions to the investment decisions with respect to companies in the enterprise hardware and storage, and telecommunications services sectors.
 
•  Prior to the investment manager’s acquisition of Seligman in Nov. 2008, Mr. Wagle was Vice President of Information Technology at Seligman.
 
•  Joined Seligman in 1998.
 
•  Began investment career in 2000.
 
•  B.S. and M.S., Stevens Institute of Technology.
 
The rest of this section remains the same.
 
The portfolio manager reporting for the Fund under the caption “Portfolio Managers” in the Fund’s SAI is superseded and replaced with the following:
 
                             
        Other Accounts Managed (excluding the fund)            
            Approximate
 		      Ownership
 		  Potential
 		   
        Number and type
 		  Total
 		  Performance Based
 		  of Fund
 		  Conflicts
 		  Structure of
Fund   Portfolio Manager   of account(a)   Net Assets   Accounts(b)   Shares(c)   of Interest   Compensation
 
For funds with fiscal period ending December 31
                             
 
 
Columbia Seligman
Communications and
Information 		  Paul H. Wick   4 RICs
5 PIVs
6 other accounts 		  $4.48 billion
$1.82 billion
$266.43 million 		  None   None        
                             
             
             
    Richard M. Parower   3 RICs
5 PIVs
8 other accounts 		  $4.19 billion
$1.82 billion
$265.53 million 		  None   None        
                             
             
             
    Sangeeth Peruri   1 RIC
12 PIVs 		  $3.68 billion
$891.27 million 		  None   None   (3)   (7)
                             
             
             
    Vishal Saluja(d)   6 PIVs
4 other accounts 		  $773.62 million
$15.36 million 		  None   None        
                             
             
             
    Sushil Wagle(d)   None   N/A   N/A   None        
                             
 
 
(a) RIC refers to a Registered Investment Company (each series or portfolio of a RIC is treated as a separate RIC); PIV refers to a Pooled Investment Vehicle.
 
(b) Number of accounts for which the advisory fee paid is based in part or wholly on performance and the aggregate net assets in those accounts.
 
(c) All shares of the Variable Portfolio funds are owned by life insurance companies and are not available for purchase by individuals. Consequently no portfolio manager owns any shares of Variable Portfolio funds.
 
(d) The portfolio manager began managing the fund after its fiscal year end. Information is provided as of Dec. 31, 2010.
 
SL-9915-2 A (2/11)6