A press release titled, "Columbia Ultra Short Term Bond Fund Celebrates 20-Year Anniversary" tells us, "Columbia Threadneedle Investments ... announced that the Columbia Ultra Short Term Bond Fund is celebrating its 20-year anniversary. Since inception, the fund has generated consistent long-term performance and provided daily NAV stability with minimal total return volatility. Ron Stahl, head of Columbia Threadneedle's $8.4 billion short duration and stable value team, has been co-portfolio manager of the fund since 2015, while Gregory Liechty has been co-manager since 2016. They have a long tenure at the firm, having worked together for 15 years." It says, "The team seeks to capitalize on pricing anomalies at the short end of the yield curve using high quality issues and diverse fixed income assets consistent with preserving capital, diversifying risk and meeting cash flow needs. Stahl and Liechty leverage the firm's more than 80 credit analysts globally who have provided the research intensity needed to deliver attractive returns in this strategy for two decades. The team helps inform bottom-up security selection, with a focus on credits that stand to benefit from multiple economic outcomes." Stahl comments, "While cash can offer relative stability and capital preservation, bonds have the potential for price appreciation while cash does not.... Columbia Ultra Short Term Bond Fund offers a potentially attractive alternative for investors who seek liquidity and capital preservation by providing exposure to higher-yielding, high-quality bonds at the short end of the curve with low volatility relative to its benchmark."