Columbia Management

In our white papers, Columbia Management senior investment professionals put some perspective around current financial and economic issues and how they may impact investment opportunities.

State Oversight a Key Factor in Assessing Local Municipality Credit Quality

January 2012

During the ongoing period of unprecedented fiscal strain, we believe that states will be increasingly called upon to intervene in the financial operations of distressed local governments. However, states have different legal and moral obligations concerning whether or not they should step in and assist localities and, if they do step in, the level and timing of support varies.

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Costs of Sovereign Debt Defaults

September 2011

The distressed euro economies that frequent today's headlines and the recent U.S. debt ceiling crisis have made debt defaults with global consequences a very concerning reality. Through exacting research and case studies of past defaults, this paper analyzes the actual costs of sovereign debt defaults.

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An Investment in Infrastructure

June 2011

Neglecting infrastructure can have tragic consequences. Think about the I-35 bridge collapse in Minneapolis, levees breaking in Missouri or the San Bruno gas pipeline explosion. These and many other examples illustrate the type of destruction that can occur if the country’s aging infrastructure is not addressed. At the same time, demand for new infrastructure is growing exponentially in emerging markets. Data highlighting the scale of construction, transport, logistics and communications development are so large they render relevant context difficult to comprehend. Suffice to say that the investment opportunity in global infrastructure over the next decade may represent the most substantial in a generation.

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The views expressed are as of the date given, may change as market or other conditions change, and may differ from views expressed by other Columbia Management Investment Advisers, LLC (CMIA) associates or affiliates. Actual investments or investment decisions made by CMIA and its affiliates, whether for its own account or on behalf of clients, will not necessarily reflect the views expressed. This information is not intended to provide investment advice and does not account for individual investor circumstances. Investment decisions should always be made based on an investor's specific financial needs, objectives, goals, time horizon, and risk tolerance. Asset classes described may not be suitable for all investors. Past performance does not guarantee future results and no forecast should be considered a guarantee either. Since economic and market conditions change frequently, there can be no assurance that the trends described here will continue or that any forecasts are accurate.

Diversification does not assure a profit or protect against loss.

Columbia Management Investment Advisers, LLC and its affiliates do not offer tax or legal advice. Consumers should consult with their tax advisor or attorney regarding their specific situation.