SOURCE: ALPS Advisors, Inc.

ALPS Advisors, Inc.

October 17, 2013 15:40 ET

Liberty All-Star® Equity Fund September 2013 Monthly Update

BOSTON, MA--(Marketwired - Oct 17, 2013) - Below is the September 2013 Monthly Update for the Liberty All-Star® Equity Fund. (NYSE: USA)

Liberty All-Star Equity Fund Monthly Update
Ticker: USA September, 2013
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      
    (31.9% of equity portfolio)      
    (Rank from previous month)      
1   QUALCOMM, Inc. (1)   2.6%  
2   Google, Inc., Class A (2)   2.5%  
3   JPMorgan Chase & Co. (3)   2.2%  
4   Schlumberger Ltd. (4)   2.1%  
5, Inc. (5)   1.8%  
6   Citigroup, Inc. (6)   1.7%  
7   Bank of America Corp. (7)   1.5%  
8   MetLife, Inc. (8)   1.5%  
9   Morgan Stanley (9)   1.5%  
10   Starbucks Corp. (20)   1.5%  
11   Devon Energy Corp. (11)   1.4%  
12   SunTrust Banks, Inc. (10)   1.4%  
13, Inc. (15)   1.4%  
14   Microsoft Corp. (13)   1.4%  
15   Visa, Inc., Class A (16)   1.3%  
16   American International Group, Inc. (12)   1.3%  
17   Hewlett-Packard Co. (19)   1.3%  
18   Chesapeake Energy Corp. (14)   1.3%  
19   TE Connectivity Ltd. (17)   1.1%  
20   State Street Corp. (18)   1.1%  
    Holdings are subject to change.      
Monthly Performance  
Performance NAV Market Price Discount
Beginning of month value $5.97 $5.38 9.9%
Distributions - -  
End of month value $6.20 $5.41 12.7%
Performance for month 3.85% 0.56%  
Performance year-to-date 21.52% 18.93%  
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 and exercised all primary rights in the Fund's rights offerings. 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 $1,080.9    
Equities $1,050.1    
Percent Invested 97.2%    
Sector Breakdown (% of equity portfolio)*   
    Financials   24.3%  
    Information Technology   20.1%  
    Energy   14.6%  
    Consumer Discretionary   14.1%  
    Health Care   10.1%  
    Industrials   7.9%  
    Consumer Staples   4.9%  
    Materials   2.5%  
    Telecommunication Services   0.9%  
    Utilities   0.6%  
    Total Market Value   100.0%  
*Based on Standard & Poor's and MSCI Barra Global Industry Classification Standard (GICS). 
New Holdings   Holdings Liquidated
  Rackspace Hosting, Inc.     Burberry Group PLC
        Micron Technology, Inc.
        The Mosaic Co.
        Onyx Pharmaceuticals, Inc.

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