Seligman Asset Allocation Aggressive Growth Fund
(Formerly Seligman Time Horizon 30 Fund)
FUND OBJECTIVE AND STRATEGY:

Seeks long-term capital appreciation by allocating its assets among select Seligman Mutual Funds (Underlying Seligman Funds) that invest in aggressive growth-oriented domestic and international equity securities, with a weighting toward small- and medium-capitalization companies.

Intended for investors with long-term financial goals (i.e., approximately 30 years away)

PORTFOLIO MANAGEMENT
Portfolio Manager:
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 January 10, 2000
Total Net Assets $17 million




ASSET ALLOCATION
As of September 30, 2008
US Large-Cap Domestic Equity
10.3%
US Mid-Cap Domestic Equity
29.3%
US Small-Cap Domestic Equity
28.2%
International Small-Cap/Emerging Markets International Equity
22.0%
International Large-Cap International Equity
4.7%
Real Estate Securities
5.5%
Asset allocations are shown as a percentage of the Fund’s portfolio.

UNDERLYING FUND ALLOCATION
As of September 30, 2008
Each Underlying Seligman Fund is shown with its actual allocation as a percentage of the Fund's assets as of 9/30/08.
Seligman Capital Fund
21.5%
Seligman Global Smaller Companies Fund
20.2
Seligman Communications and Information Fund
16.4
Seligman Smaller-Cap Value Fund
13.3
Seligman Emerging Markets Fund
10.1
Seligman LaSalle Global Real Estate Fund
5.6
Seligman International Growth Fund
4.8
Seligman Large-Cap Value Fund
3.3
Seligman Frontier Fund
3.1
Seligman Growth Fund
3.0



AVERAGE ANNUAL TOTAL RETURNS
As of September 30, 2008

  1 Year
%
3 Year
%
5 Year
%
Since Inception*
%
CLASS A without sales charges (29.20) (0.22) 7.09 0.39
CLASS A with sales charges (33.24) (2.16) 5.85 (0.30)
 
*Inception: 1/10/00.



GROWTH of $10,000
(Class A Without Sales Charges: 1/10/00 (Inception) - 9/30/08)


The chart does not reflect the performance of Class B or C shares, which would differ due to different sales charges, fees and expenses. See Important Performance Information below.


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

(As of percent of Net Assets) Class A
Shares
Class B/C
Shares
Total Gross Operating Expenses1 2.30% 3.05%
Less: Contractual Fee Waiver/Expense Reimbursement2 0.20 0.20
Net Operating Expenses(after Fee Waiver/Expense Reimbursement)1 2.10 2.85
 
1Includes 1.70% for Underlying Fund fees and expenses.

2From April 1, 2005, through April 30, 2009, Seligman has contractually undertaken to waive its management fee and/or to reimburse the Fund’s expenses to the extent that the sum of the “management fee” plus “other expenses” (but not including any 12b-1 fees or Underlying Fund fees and expenses) exceeds 0.40% per annum of the Fund’s average daily net assets. From May 1, 2009, through December 31, 2010, Seligman has contractually undertaken to waive its management fee and/or reimburse the Fund’s expenses to the extent that the sum of the “management fee” plus “other expenses” (but not including any 12b-1 fees or Underlying Fund fees and expenses) exceeds 0.75% per annum of the Fund’s average daily net assets. Other waiver/reimbursement arrangements were in effect since inception of the Fund. Absent these reimbursements and fee waivers, the Fund’s returns would have been lower.




A WORD ABOUT THE UNDERLYING FUNDS

Underlying Fund Allocations above are the Fund’s actual allocations (shown as a percentage of the Fund’s portfolio) as of September 30, 2008. Such allocations may or may not represent the target allocations contained in the prospectus, and are subject to change. Actual allocations have historically varied and will vary in the future.

The Fund may change its target allocations for each Underlying Seligman Fund at any time if Seligman believes that doing so will better enable the Fund to pursue its investment objective. The Fund may also change the Underlying Seligman Funds to which it will allocate its assets depending on Seligman’s outlook on the economy, financial markets in general, and factors related to the asset classes in which each Underlying Seligman Fund invests.

Investments by the Fund in the Underlying Seligman Funds involve risk, including the risk of loss of principal. An investor in the Fund will indirectly bear the operating expenses of the Underlying Seligman Funds in which the Fund invests. Thus, the expenses borne by the investor will be higher than if he or she invested directly in the Underlying Seligman Funds, and the returns may therefore be lower.

Seligman is waiving all or part of its investment management fee and/or reimbursing Fund expenses for Seligman LaSalle Global Real Estate Fund, Seligman Frontier Fund, Seligman Emerging Markets Fund, and Seligman International Growth Fund. In addition, from time to time, Seligman has made payments to, or reimbursed expenses or waived investment management fees of, other Seligman Mutual Funds. Seligman may implement or discontinue voluntary expense reimbursements of fee waivers at any time. Absent such reimbursements, payments, or waivers, returns would have been lower.

NOT FDIC INSURED NOT BANK GUARANTEED MAY LOSE VALUE