MINNEAPOLIS--(BUSINESS WIRE)-- Tri-Continental Corporation (TY) (the Corporation) (NYSE: TY) today held its 82nd Annual Meeting of Stockholders (the Meeting) in Minneapolis, Minnesota. Stockholders voted in accordance with the recommendations of the Corporations Board of Directors on each of the two proposals at the Meeting.
Stockholders re-elected three Directors at the Meeting. The re-elected Directors are Mses. Kathleen Blatz, Pamela Carlton and Alison Taunton-Rigby. The re-elected Directors terms will expire at the Corporations 2015 annual meeting of stockholders. Stockholders also ratified the selection of Ernst & Young LLP as the Corporations independent registered public accounting firm for 2012.
Investors should consider the investment objectives, risks, charges, and expenses of the Corporation carefully before investing. A prospectus containing information about the Fund (including its investment objectives, risks, charges, expenses, and other information about the Fund) may be obtained by contacting your financial advisor or visiting www.columbiamanagement.com. The prospectus should be read carefully before investing in the Fund. For more information, please call 800-TRI-1092 (800-874-1092) or visit columbiamanagement.com.
The net asset value of the Corporations shares may not always correspond to their market price. Shares of closed-end funds frequently trade at a discount from their net asset value. The Corporations performance will reflect, in part, the investment decisions of its portfolio managers. Securities selected using the Corporations quantitative methods may perform differently from the market as a whole and there can be no assurance the Corporations quantitative methodology will enable it to achieve its objective. The Corporations share price may be adversely affected if the market value of its portfolio securities falls, fails to rise, or fluctuates due to factors affecting a single issuer, sector of the economy, industry or the market as a whole.
The Corporations investment in foreign securities introduces risks not associated with investments in U.S. companies, including country risk, currency risk and custody risk which may result from political, regulatory, economic, social, and other conditions or events in a particular country, currency fluctuations and less developed custody and settlement practices. These risks may be more significant in emerging markets countries.
The Corporation's use of leverage may magnify losses and increase volatility of returns. The Corporation's use of derivatives may expose it to greater risks than are associated with investing directly in the investments underlying the derivatives. The Corporations investments in fixed income securities expose it to credit risk, interest rate risk, and prepayment and extension risk. These risks may be more pronounced for longer-term securities and high-yield securities (junk bonds).
The Corporation may invest in convertible securities, including convertible common and preferred stocks and convertible bonds. Convertible securities are subject both to the risks of their security type prior to conversion as well as their security type after conversion. The Corporation may be forced to convert a convertible security at an inopportune time, which may decrease the Corporations return.
There is no guarantee that the Corporations investment objective will be met, and you could lose money.
Tri-Continental is managed by Columbia Management Investment Advisers, LLC. This material is distributed by Columbia Management Investment Distributors, Inc., member FINRA.
Past performance does not guarantee future results.
NOT FDIC INSURED · MAY LOSE VALUE · NO BANK GUARANTEE · NOT A DEPOSIT · NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
© 2012 Columbia Management Investment Advisers, LLC. All rights reserved.
Gary Terpening, 212-850-1533
Charles Keller, 612-678-7786
Source: Tri-Continental CorporationCopyright Business Wire 2012