The Columbia Acorn European Fund primarily invests in companies across Europe. Typically, it allocates a minimum of 80% of its net assets (including any funds borrowed for investment purposes) to European businesses. Within this overall European focus, the fund dedicates at least 70% of its total assets to enterprises located in Western European countries, while also retaining the flexibility to invest up to 30% of its total assets in companies operating within the emerging markets of Central and Eastern Europe.