SOURCE: ALPS Advisors, Inc.

ALPS Advisors, Inc.

February 12, 2014 15:22 ET

Liberty All-Star® Equity Fund January 2014 Monthly Update

BOSTON, MA--(Marketwired - Feb 12, 2014) - Below is the January 2014 Monthly Update for the Liberty All-Star® Equity Fund. (NYSE: USA)

Liberty All-Star Equity Fund Monthly Update
  Ticker: USA January, 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    
    (31.0% of equity portfolio)    
      (Rank from previous month)    
1   Google, Inc., Class A (1)   2.6%
2   Salesforce.com, Inc. (4)   2.2%
3   JPMorgan Chase & Co. (2)   2.1%
4   Schlumberger Ltd. (3)   2.0%
5   Bank of America Corp. (8)   1.8%
6   Hewlett-Packard Co. (7)   1.7%
7   Amazon.com, Inc. (5)   1.7%
8   Citigroup, Inc. (6)   1.6%
9   SunTrust Banks, Inc. (12)   1.5%
10   Morgan Stanley (9)   1.4%
11   Visa, Inc., Class A (13)   1.4%
12   QUALCOMM, Inc. (10)   1.4%
13   MetLife, Inc. (11)   1.4%
14   Starbucks Corp. (15)   1.2%
15   American International Group, Inc. (14)   1.2%
16   Devon Energy Corp. (17)   1.2%
17   Chesapeake Energy Corp. (16)   1.2%
18   Microsoft Corp. (19)   1.2%
19   TE Connectivity Ltd. (22)   1.1%
20   Precision Castparts Corp. (18)   1.1%
    Holdings are subject to change.    
         
     
Monthly Performance    
Performance   NAV   Market Price   Discount
  Beginning of month value   $6.71   $5.97   11.0%
  Distributions (Ex-Date January 22)   $0.10   $0.10    
  End of month value   $6.39   $5.63   11.9%
  Performance for month   -3.08%   -4.02%    
  Performance year-to-date   -3.08%   -4.02%    
               
 
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.
 
 
Net Assets at Month-End ($millions)
  Total   $1,121.3
  Equities   $1,109.3
  Percent Invested   98.9%
 
     
Sector Breakdown (% of equity portfolio)*    
  Financials   27.0%
  Information Technology   18.9%
  Consumer Discretionary   15.8%
  Energy   13.7%
  Health Care   10.7%
  Industrials   6.5%
  Consumer Staples   4.7%
  Materials   2.2%
  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
Bombardier Inc., Class B   Delphi Automotive PLC
Columbia Property Trust, Inc.   eBay, Inc.
Facebook, Inc.   L-3 Communications Holdings, Inc.
Triumph Group, Inc.   National-Oilwell Varco, Inc.
     

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