Columbia Strategic Municipal Income Fund Q4 2025 Commentary

Columbia Threadneedle Investments1.01K FollowersFollow5ShareSavePlay(9min)CommentsSummaryInstitutional Class shares of Columbia Strategic Municipal Income Fund returned 1.49% for the three months ending December 31, 2025, while the fund's benchmark returned 1.56%.The Fed continued its rate-cutting cycle with two reductions of 25 basis points in the federal funds rate during the quarter, leaving the rate in the 3.50%–3.75% range.New-issue supply reached over $580 billion in 2025, a new annual record, and most new-issue deals continued to be met with strong demand.Performance detractors included security selection in AA rated bonds and an overweight to non-rated bonds, while the fund's exposure to intermediate and longer maturities was additive to returns.We expect another active year in 2026, with elevated but absorbable supply, healthy demand and resilient credit, though performance will hinge on curve and sector selection.

Getty Images Fund performance Institutional Class shares of Columbia Strategic Municipal Income Fund returned 1.49% for the three months ending December 31, 2025. The fund's benchmark, the Bloomberg Municipal Bond Index, returned 1.56% for the same period. The fund This article was written byColumbia Threadneedle Investments1.01K FollowersFollowColumbia Threadneedle Investments is a leading global asset management group that provides a broad range of actively managed investment strategies and solutions for individual, institutional and corporate clients around the world.

Columbia Threadneedle Investments is the global asset management group of Ameriprise Financial, Inc. (NYSE: AMP). For more information please visit columbiathreadneedleus.com.