Seligman TargETFund 2035 SM
FUND OBJECTIVE AND STRATEGY:
Seeks capital appreciation until the year 2015, and thereafter capital appreciation consistent with a strategy of steadily decreasing emphasis on capital appreciation and steadily increasing emphasis on capital preservation and current income as 2035 approaches. The Fund seeks its objective by investing at least 80% of its net assets in ETFs, using allocations suggested by Seligman’s Time Horizon Matrix® strategy.
PORTFOLIO MANAGEMENT
Portfolio Managers:
Charles W. Kadlec
Charles W. Kadlec
Managing Director of J. & W. Seligman & Co Incorporated

President, Seligman Advisors, Inc. and Seligman Services, Inc.

Joined Seligman: 1985
Industry Experience: 30 Years

Mr. Kadlec serves as Portfolio Manager for the following:

Education:

BA (Political Science and English) - University of Illinois
MBA (International Finance and Economics) - University of Chicago




FUND STATISTICS
As of September 30, 2008
Inception October 2, 2006
Total Net Assets $7 million



TARGET ASSET ALLOCATION1
As of September 30, 2008
US Mid-Cap Equity
25.0%
US Small-Cap Equity
25.0%
US Large-Cap Equity
15.0%
International Equity
30.0%
Fixed-Income
5.0%
HOLDINGS2
As of September 30, 2008
iShares Russell 2000 Index Fund
25.0%
iShares Russell Midcap Index Fund
24.5
SPDR Trust Series 1
14.8
Vanguard Emerging Markets ETF Fund
10.1
Vanguard Europe Pacific ETF Fund
9.9
WisdomTree International SmallCap Dividend Fund
9.8
Vanguard Total Bond Market ETF Fund
5.2


SELIGMAN TARGETFund 2035SM

  • Is intended for investors with a goal in or near the year 2035
  • Is a Target-Date Fund — it will, in time, changes its allocations to historically less-volatile investments as you get closer to your goal*
  • Invests in ETFs — “exchange-traded funds” that seek to track a specific securities index or basket of securities**
  • Provides investors with a sophisticated risk-management strategy and cost-effective diversification†

* The Fund maintains approximately its initial allocation until 2015 and then migrates periodically in accordance with Seligman’s Time Horizon® Matrix methodology.

**Underlying ETFs generally will not be able to duplicate exactly the performance of the underlying indexes they seek to track, which can be due to, among other factors, the expenses that the Underlying ETF pays, regulatory constraints, investment strategies or techniques undertaken by an Underlying ETF (e.g., options and futures) and changes to an underlying index. In addition, there may exist a lack of correlation between the securities in an index and those actually held by an Underlying ETF, as well as a lack of correlation between the asset classes used to develop Seligman’s asset allocation methodology and the Underlying ETFs.

† Diversification does not assure a profit or protect against loss in a declining market. A typical investor would incur lower costs through an investment in Seligman TargETFunds (which includes professional portfolio management based on Seligman’s proprietary Time Horizon Matrix research) as compared to a direct investment (without professional portfolio management) in the same ETFs held by the Seligman TargETFunds. Such cost comparison takes into consideration transaction costs, sales charges, and expenses, as applicable.

AVERAGE ANNUAL TOTAL RETURNS
As of September 30, 2008

  1 Year
%		 Since Inception*
%
Class A without sales charges (22.78) (3.34)
Class A with sales charges (27.19) (6.13)
 
*Since 10/2/06.


GROWTH OF $10,000
(Class A Without Sales Charges: 10/2/06 (Inception) - 9/30/08)


Annual Fund Operating Expenses**
(Expenses that are deducted from Fund assets)

(As of percent of Net Assets) Class A
Shares		 Class C/D
Shares		 Class R
Shares
Total Gross Operating Expenses3 2.82% 3.57% 3.07%
Less: Contractual Fee Waiver/Expense Reimbursement4 1.57 1.57 1.57
Net Operating Expenses (after Fee Waiver/Expense Reimbursement)3 1.25 2.00 1.50
 

**As of 3/31/08

3Includes 0.27% for Underlying ETF fees and expenses.

4Through at least January 31, 2015, Seligman has contractually agreed to waive its management fee and/or to reimburse the Fund’s expenses to the extent that the Fund’s “other expenses” (i.e., those expenses other than management fees, 12b-1 fees, interest on borrowings, and extraordinary expenses, including litigation expenses) exceed 0.23% per annum of the Fund’s average daily net assets (excluding the assets in Class I shares, shares of which are not offered herein). This waiver/ reimbursement arrangement also excludes Underlying ETF fees and expenses. For the fiscal year ended September 30, 2007, Seligman voluntarily reimbursed certain additional class-specific expenses. This voluntarily reimbursement is not reflected above.


NOT FDIC INSURED . NOT BANK GUARANTEED . MAY LOSE VALUE
This information is authorized for use only in the case of concurrent or prior delivery of the offering prospectus of the Fund. You should consider the investment objectives, risks, charges, and expenses of a Fund carefully before investing. A prospectus containing information about a Fund (including its investment objectives, risks, charges, expenses, and other information about the Fund) may be obtained here. The prospectus should be read carefully before investing in a Fund.

Effective November 7, 2008, J. & W. Seligman Co. Incorporated ("Seligman") was acquired by and became a wholly-owned subsidiary of RiverSource Investments, LLC, which is a subsidiary of Ameriprise Financial, Inc. As a result of the acquisition, Seligman's investment advisory contracts were transferred to RiverSource Investments and Seligman Advisors, Inc., a subsidiary of Seligman, was added as a principal underwriter and distributor of the RiverSource mutual funds.

Seligman mutual funds are distributed by Seligman Advisors, Inc., member FINRA, and managed by RiverSource Investments, LLC. Seligman Services, Inc. provides services to fund shareholders. Seligman Advisors, Inc. and Seligman Services, Inc. are wholly-owned subsidiaries of RiverSource Investments, LLC. These companies are part of Ameriprise Financial, Inc.