SOURCE: ALPS Advisors, Inc.

ALPS Advisors, Inc.

March 11, 2014 15:34 ET

Liberty All-Star® Equity Fund February 2014 Monthly Update

BOSTON, MA--(Marketwired - Mar 11, 2014) - Below is the February 2014 Monthly Update for the Liberty All-Star® Equity Fund. (NYSE: USA)

   
Liberty All-Star Equity Fund Monthly Update
    Ticker: USA February, 2014
Investment Approach  
       
Fund Style: Large-Cap Core  
       
Fund Strategy: Combines three value-style and two growth-style investment managers. Those selected demonstrate a consistent investment philosophy, decision making process, continuity of key people and above-average long-term results compared to managers with similar styles.
       
Investment Managers:  
Value Managers:  
Matrix Asset Advisors, Inc.  
Pzena Investment Management, LLC  
Schneider Capital Management Corporation  
       
Growth Managers:  
Cornerstone Capital Management LLC  
TCW Investment Management Company  
       
Top 20 Holdings at Month-End  
    (30.5% of equity portfolio)  
    (Rank from previous month)  
1   Google, Inc., Class A (1) 2.5%
2   JPMorgan Chase & Co. (3) 2.1%
3   Schlumberger Ltd. (4) 2.1%
4   Salesforce.com, Inc. (2) 2.0%
5   Bank of America Corp. (5) 1.7%
6   Amazon.com, Inc. (7) 1.6%
7   Hewlett-Packard Co. (6) 1.6%
8   Citigroup, Inc. (8) 1.5%
9   SunTrust Banks, Inc. (9) 1.5%
10   Visa, Inc., Class A (11) 1.4%
11   MetLife, Inc. (13) 1.4%
12   QUALCOMM, Inc. (12) 1.4%
13   Starbucks Corp. (14) 1.4%
14   Morgan Stanley (10) 1.3%
15   Devon Energy Corp. (16) 1.3%
16   American International Group, Inc. (15) 1.2%
17   Weatherford International Ltd. (28) 1.2%
18   Microsoft Corp. (18) 1.1%
19   Toll Brothers, Inc. (21) 1.1%
20   TE Connectivity Ltd. (19) 1.1%
    Holdings are subject to change.  
       
   
Monthly Performance  
Performance NAV Market Price Discount
  Beginning of month value $6.39 $5.63 11.9%
  Distributions - -  
  End of month value $6.70 $5.99 10.6%
  Performance for month 4.85% 6.39%  
  Performance year-to-date 1.57% 2.06%  
         
The net asset value (NAV) of a closed-end fund is the market value of the underlying investments (i.e., stocks and bonds) in the Fund's portfolio, minus liabilities, divided by the total number of Fund shares outstanding. However, the Fund also has a market price; the value at which it trades on an exchange. If the market price is above the NAV the Fund is trading at a premium. If the market price is below the NAV the Fund is trading at a discount.

Returns for the Fund are total returns, which include dividends, after deducting Fund expenses. The Fund's performance is calculated assuming that a shareholder reinvested all distributions. Past performance cannot predict future investment results.

Performance will fluctuate with changes in market conditions. Current performance may be lower or higher than the performance data shown. Performance information shown does not reflect the deduction of taxes that shareholders would pay on Fund distributions or the sale of Fund shares. Shareholders must be willing to tolerate significant fluctuations in the value of their investment. An investment in the Fund involves risk, including loss of principal.
       
Past performance cannot predict future results      
Returns calculated assuming distributions reinvested
       
Net Assets at Month-End ($millions)    
  Total $1,175.9    
  Equities $1,160.9    
  Percent Invested 98.7%    
     
Sector Breakdown (% of equity portfolio)*      
  Financials   26.7%  
  Information Technology   18.7%  
  Consumer Discretionary   15.8%  
  Energy   14.1%  
  Health Care   10.5%  
  Industrials   6.7%  
  Consumer Staples   4.9%  
  Materials   2.1%  
  Utilities   0.5%  
Total Market Value   100.0%  
*Based on Standard & Poor's and MSCI Barra Global Industry Classification Standard (GICS).      
       
     
New Holdings   Holdings
Liquidated
Eaton Corp. PLC    
The Estee Lauder Cos., Inc., Class A   Camden Property Trust
Lululemon Athletica, Inc.   Dick's Sporting Goods, Inc.
ServiceNow, Inc.   Express Scripts Holding Co.
Tesla Motors, Inc.   Philip Morris International, Inc.
WellPoint, Inc.   Ralph Lauren Corp.
WhiteWave Foods Co., Class A   WR Berkley Corp.
     

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