BOSTON, MA--(Marketwired - Jul 16, 2013) - Below is the June 2013 Monthly Update for the Liberty All-Star® Equity Fund. (NYSE: USA)
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| Liberty All-Star Equity Fund |
Monthly Update |
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Ticker: USA |
June, 2013 |
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| Investment Approach |
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| Fund Style: Large-Cap Core |
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| 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. |
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| Investment |
| Managers: Value Managers: |
| Matrix Asset Advisors, Inc. |
| Pzena Investment Management, LLC |
| Schneider Capital Management Corporation |
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| Growth Managers: |
| Cornerstone Capital Management LLC |
| TCW Investment Management Company |
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| Monthly Performance |
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| Performance |
NAV |
Market Price |
Discount |
| Beginning of month value |
$5.99 |
$5.30 |
11.5% |
| Distributions |
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| End of month value |
$5.86 |
$5.20 |
11.3% |
| Performance for month |
-2.17% |
-1.89% |
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| Performance year-to-date |
12.97% |
12.43% |
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The net asset value (NAV) of a closed-end fund is the market value of the underlying investments (i.e., stocks and bonds) in the Fund's portfolio, minus liabilities, divided by the total number of Fund shares outstanding. However, the Fund also has a market price; the value at which it trades on an exchange. If the market price is above the NAV the Fund is trading at a premium. If the market price is below the NAV the Fund is trading at a discount.
Returns for the Fund are total returns, which include dividends, after deducting Fund expenses. The Fund's performance is calculated assuming that a shareholder reinvested all distributions. Past performance cannot predict future investment results.
Performance will fluctuate with changes in market conditions. Current performance may be lower or higher than the performance data shown. Performance information shown does not reflect the deduction of taxes that shareholders would pay on Fund distributions or the sale of Fund shares. Shareholders must be willing to tolerate significant fluctuations in the value of their investment. An investment in the Fund involves risk, including loss of principal. |
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| Net Assets at Month-End ($millions) |
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| Total |
$1,098.7 |
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| Equities |
$1,072.9 |
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| Percent Invested |
97.7% |
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| Top 20 Holdings at Month-End |
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(31.2% of equity portfolio) |
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(Rank from previous month) |
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| 1 |
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Google, Inc., Class A (1) |
2.6% |
| 2 |
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JPMorgan Chase & Co. (2) |
2.4% |
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QUALCOMM, Inc. (3) |
2.0% |
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Citigroup, Inc. (4) |
1.9% |
| 5 |
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Schlumberger Ltd. (5) |
1.8% |
| 6 |
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MetLife, Inc. (9) |
1.6% |
| 7 |
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TE Connectivity Ltd. (12) |
1.5% |
| 8 |
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SunTrust Banks, Inc. (10) |
1.5% |
| 9 |
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Bank of America Corp. (8) |
1.5% |
| 10 |
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Visa, Inc., Class A (14) |
1.5% |
| 11 |
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Hewlett-Packard Co. (13) |
1.4% |
| 12 |
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State Street Corp. (7) |
1.4% |
| 13 |
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Morgan Stanley (16) |
1.4% |
| 14 |
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Microsoft Corp. (11) |
1.4% |
| 15 |
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American International Group, Inc. (19) |
1.3% |
| 16 |
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Devon Energy Corp. (15) |
1.3% |
| 17 |
| Salesforce.com, Inc. (17) |
1.2% |
| 18 |
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Amazon.com, Inc. (21) |
1.2% |
| 19 |
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The Charles Schwab Corp. (18) |
1.2% |
| 20 |
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Toll Brothers, Inc. (22) |
1.1% |
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Holdings are subject to change. |
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| Sector Breakdown (% of equity portfolio)* |
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| Financials |
25.8% |
| Information Technology |
20.0% |
| Energy |
14.1% |
| Consumer Discretionary |
12.8% |
| Health Care |
9.9% |
| Industrials |
7.7% |
| Consumer Staples |
5.4% |
| Materials |
2.6% |
| Telecommunication Services |
0.9% |
| Utilities |
0.8% |
| Total Market Value |
100.0% |
| *Based on Standard & Poor's and MSCI Barra Global Industry Classification Standard (GICS). |
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| New Holdings |
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Holdings Liquidated |
| Catamaran Corp. |
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Apollo Group, Inc., Class A |
| Caterpillar, Inc. |
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Cognizant Technology Solutions Corp., Class A |
| CME Group, Inc. |
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Comcast Corp., Special Class A |
| E.I. du Pont de Nemours & Co. |
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CSX Corp. |
| Lennar Corp., Class A |
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Panera Bread Co., Class A |
| LG Display Co. Ltd. |
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| Parker Hannifin Corp. |
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| United Rentals, Inc. |
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Contact Information:
Contact Information:
Liberty All-Star Equity Fund
1-800-241-1850
www.all-starfunds.com