Tri-Continental Corporation on December 19, 2017, held a meeting at which its members considered and, thereafter, unanimously elected Edward J. Boudreau and George S. Batejan to the Corporation’s Board. Their service with the Board will commence on January 1, 2018, at which time Mr. Boudreau will also serve as chairman of the Board, per action at the meeting by the Board’s existing members. Each of Messrs. Batejan and Boudreau currently serve on the mutual fund board of the Columbia Funds and, as of January 1, 2018, on the board of one other closed-end fund (additional biographical information for each of Messrs. Batejan and Boudreau is included below). Mr. William A. Hawkins, the Board’s current chairman, and Ms. Alison Taunton-Rigby are retiring from the Corporation’s and the other closed-end fund’s Board effective December 31, 2017, and from the Columbia Funds Board effective January 1, 2018. Mr. Boudreau will also serve on the Board’s Contracts Committee, Board Governance Committee, Executive Committee, Compliance Committee, and Investment Review Committee. Mr. Batejan will also serve on the Board’s Contracts Committee, Compliance Committee, and Investment Review Committee.
Tri-Continental Corporation (the Fund) is a diversified, closed-end management investment company. The Fund's investment objective is to produce future growth of both capital and income while providing reasonable current income. It invests primarily for the longer term and has no charter restrictions with respect to its investments. With respect to the Fund's investments, assets may be held in cash or invested in all types of securities, that is, in common stocks, bonds, convertible bonds, debentures, notes, preferred and convertible preferred stocks, rights, and other securities or instruments. It may invest in debt/fixed income instruments and convertible securities that, at the time of purchase, are rated below investment grade or are unrated but determined to be of comparable quality. The Fund may invest in derivatives, such as futures contracts (including equity futures and index futures), to equitize cash. The Fund's manager is Columbia Management Investment Advisers, LLC.