Liberty All-Star(R) Equity Fund October 2015 Update
Nov 11, 2015 09:57:00 (ET)
Liberty All-Star(R) Equity Fund October 2015 Update
BOSTON, MA--(Marketwired - Nov 11, 2015) - Below is the October 2015 Monthly Update for the Liberty All-Star(R) Equity Fund. (NYSE: USA)
Liberty All-Star Equity Fund Monthly Update
Ticker: USA October, 2015
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:
Delaware Investments
Matrix Asset Advisors, Inc.
Pzena Investment Management, LLC
Growth Managers:
Cornerstone Capital Management LLC
TCW Investment Management Company
Top 20 Holdings at Month-End
---------------------------------------- ----
(28.6% of equity portfolio)
(Rank from previous month)
---------------------------------- ----
1 Alphabet, Inc., Class A & C (1) 2.5%
---------------------------------- ----
2 Salesforce.com, Inc. (3) 1.9%
---------------------------------- ----
3 Facebook, Inc., Class A (2) 1.7%
---------------------------------- ----
4 Amazon.com, Inc. (4) 1.7%
---------------------------------- ----
5 Microsoft Corp. (7) 1.6%
---------------------------------- ----
6 Visa, Inc., Class A (5) 1.5%
---------------------------------- ----
7 Apple, Inc. (29) 1.5%
---------------------------------- ----
8 CVS Health Corp. (6) 1.4%
---------------------------------- ----
9 JPMorgan Chase & Co. ( 1.3%
---------------------------------- ----
10 Metlife, Inc. (9) 1.3%
---------------------------------- ----
11 Alexion Pharmaceuticals, Inc. (11) 1.3%
---------------------------------- ----
12 Cisco Systems, Inc. (10) 1.3%
---------------------------------- ----
13 Intel Corp. (14) 1.3%
---------------------------------- ----
14 Johnson Controls, Inc. (13) 1.2%
---------------------------------- ----
15 Hewlett-Packard Co. (1 1.2%
---------------------------------- ----
16 BB&T Corp. (12) 1.2%
---------------------------------- ----
17 Johnson & Johnson (15) 1.2%
---------------------------------- ----
18 Gilead Sciences, Inc. (19) 1.2%
---------------------------------- ----
19 Occidental Petroleum Corp. (16) 1.2%
---------------------------------- ----
20 EI du Pont de Nemours & Co. (30) 1.1%
---------------------------------- ----
Holdings are subject to change.
Monthly Performance
------------------------------------ -----------------------------
Performance NAV Market Price Discount
------------------------------------ ----- ------------ --------
Beginning of month value $5.91 $5.08 14.0%
----------------------------------- ----- ------------ --------
Distributions (Ex-Date October 2 $0.13 $0.13
----------------------------------- ----- ------------ --------
End of month value $6.29 $5.37 14.6%
----------------------------------- ----- ------------ --------
Performance for month 9.01% 8.27%
----------------------------------- ----- ------------ --------
Performance year-to-date 0.64% -1.72%
----------------------------------- ----- ------------ --------
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.
Performance returns for the Fund are total returns, which includes dividends, and are net of management fees and other 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.
Sources of distributions to shareholders may include ordinary dividends, long-term capital gains and return of capital. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during its fiscal year and may be subject to changes based on tax regulations. If a distribution includes anything other than net investment income, the fund provides a Section 19(a) notice of the best estimate of its distribution sources at that time, available at www.all-starfunds.com. These estimates may not match the final tax characterization (for the full year's distributions) contained in shareholders' 1099-DIV forms after the end of the year.
Net Assets at Month-End ($millions)
----------------------------------------
Total $1,150.2
-------------------------- -----------
Equities $1,154.0
-------------------------- -----------
Percent Invested 100.3%
-------------------------- -----------
Sector Breakdown (% of equity portfolio)*
------------------------------------------------
Financials 22.1%
-------------------------- ----------- ------
Information Technology 21.4%
-------------------------- ----------- ------
Health Care 17.2%
-------------------------- ----------- ------
Consumer Discretionary 14.3%
-------------------------- ----------- ------
Energy 8.6%
-------------------------- ----------- ------
Consumer Staples 7.2%
-------------------------- ----------- ------
Industrials 6.1%
-------------------------- ----------- ------
Materials 1.3%
-------------------------- ----------- ------
Telecommunication Services 1.2%
-------------------------- ----------- ------
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
--------------------------- --------------------------
WABCO Holdings, Inc. Dollar General Corp.
Laboratory Corp. of
America Holdings
Mercadolibre, Inc.
Royal Caribbean Cruises
Ltd.
Time Warner, Inc.
Liberty All-Star(R) Equity Fund Declares Distribution
Oct 19, 2015 09:00:00 (ET)
BOSTON--(BUSINESS WIRE)--October 19, 2015--
The Board of Trustees of Liberty All-Star Equity Fund (NYSE: USA) has declared a distribution of $0.13 per share payable on January 4, 2016 to shareholders of record on October 30, 2015 (ex-dividend date of October 28, 2015). This distribution is in accordance with the Fund's current distribution policy of paying distributions on its shares totaling approximately 8 percent of its net asset value per year, payable in four quarterly installments of 2 percent. A portion of the distribution may be treated as paid from sources other than net income, including but not limited to short-term capital gain, long-term capital gain and return of capital. The final determination of the source of all distributions in 2015 for tax reporting purposes, including the percentage of qualified dividend income, will be made after year-end.
The distribution will be paid in newly issued shares to all shareholders except those who are not participating in Liberty All-Star Equity Fund's Dividend Reinvestment Plan and who elect to receive the distribution in cash. Shares will be issued at the lower of the December 11, 2015 net asset value per share or market value per share (but not less than 95% of market value). The market value of the Fund's shares for this purpose will be the last sales price on the New York Stock Exchange.
ALPS Advisors, Inc. is the investment advisor of the Liberty All-Star Equity Fund, a multi-managed, closed-end investment company with more than $1.1 billion in net assets. The Fund's shares are listed on the New York Stock Exchange under the symbol USA.
The Liberty All-Star Equity Fund is a closed-end fund and does not continuously offer shares. The Fund trades in the secondary market, investors wishing to buy or sell shares need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market's value.
Liberty All-Star(R) Equity Fund August 2015 Update
Sep 16, 2015 12:58:00 (ET)
Liberty All-Star(R) Equity Fund August 2015 Update
BOSTON, MA--(Marketwired - Sep 16, 2015) - Below is the August 2015 Monthly Update for the Liberty All-Star(R) Equity Fund. (NYSE: USA)
Liberty All-Star Equity Fund Monthly Update
Ticker: USA August, 2015
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
--------------------------------------------- ----
(31.6% of equity portfolio)
(Rank from previous month)
--------------------------------------- ----
1 Google, Inc., Class A & C (2) 2.5%
2 JPMorgan Chase & Co. (1) 2.5%
3 State Street Corp. (3) 2.2%
4 Facebook, Inc., Class A (4) 2.0%
5 Citigroup, Inc. (5) 1.8%
6 Salesforce.com, Inc. (6) 1.8%
7 Amazon.com, Inc. (7) 1.7%
8 PulteGroup, Inc. (9) 1.6%
9 Visa, Inc., Class A (10) 1.5%
10 Microsoft Corp. (11) 1.5%
11 SunTrust Banks, Inc. ( 1.5%
12 Regions Financial Corp. (15) 1.4%
13 Metlife, Inc. (12) 1.4%
14 American International Group, Inc. (13) 1.3%
15 Alexion Pharmaceuticals, Inc. (14) 1.3%
16 Hewlett-Packard Co. (16) 1.2%
17 The Walt Disney Co. (1 1.1%
18 American Tower Corp. (21) 1.1%
19 Morgan Stanley (17) 1.1%
20 Gilead Sciences, Inc. (19) 1.1%
--------------------------------------- ----
Holdings are subject to change.
Monthly Performance
-------------------------- ------------------------------
Performance NAV Market Price Discount
-------------------------- ------ ------------ --------
Beginning of month value $6.60 $5.74 13.0%
Distributions - -
End of month value $6.18 $5.31 14.1%
Performance for month -6.36% -7.49%
Performance year-to-date -3.46% -5.12%
-------------------------- ------ ------------ --------
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 includes dividends, and are net of management fees and other 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.
Sources of distributions to shareholders may include ordinary dividends, long-term capital gains and return of capital. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. If a distribution includes anything other than net investment income, the fund provides a Section 19(a) notice of the best estimate of its distribution sources at that time, available at www.all-starfunds.com. These estimates may not match the final tax characterization (for the full year's distributions) contained in shareholders' 1099-DIV forms after the end of the year.
Net Assets at Month-End ($millions)
--------------------------------------------------------------
Total $1,120.4
Equities $1,116.0
Percent Invested 99.6%
--------------------------------------------------- --------
Sector Breakdown (% of equity portfolio)*
--------------------------------------------------- -------- ------
Financials 30.0%
Information Technology 19.2%
Consumer Discretionary 17.9%
Health Care 13.1%
Energy 9.4%
Consumer Staples 5.1%
Industrials 4.5%
Materials 0.8%
Total Market Value 100.0%
--------------------------------------------------- -------- ------
*Based on Standard & Poor's and MSCI Barra Global
Industry Classification Standard (GICS).
New Holdings Holdings Liquidated
------------------------------- ------------------------------------
Avis Budget Group, Inc. Diageo PLC
HD Supply Holdings, Inc. The Estee Lauder Cos., Inc., Class A
Imperva, Inc. Fastenal Co.
Polaris Industries, Inc. Rackspace Hosting, Inc.
Tableau Software, Inc., Class A SM Energy Co.
Teradata Corp.
Liberty All-Star(R) Equity Fund Announces New Portfolio Manager
Sep 11, 2015 16:15:00 (ET)
BOSTON--(BUSINESS WIRE)--September 11, 2015--
The Board of Trustees of Liberty All-Star Equity Fund (NYSE: USA) has appointed Delaware Investments Fund Advisers ("Delaware") as one of the Fund's five investment managers effective September 14, 2015 replacing Schneider Capital Management Corporation.
The investment team at Delaware, led by D. Tysen Nutt, Jr., practices a large capitalization value investment style which will be used to manage their portion of the Fund's assets. Liberty All-Star Equity Fund's other managers are Cornerstone Capital Management LLC, Matrix Asset Advisors, Inc., Pzena Investment Management, LLC, and TCW Investment Management Company.
ALPS Advisors, Inc. is the investment advisor of the Liberty All-Star Equity Fund, a multi-managed, closed-end investment company with $1.1 billion in net assets. The Fund's shares are listed on the New York Stock Exchange under the symbol USA.
The Liberty All-Star Equity Fund is a closed-end fund and does not continuously offer shares. The Fund trades in the secondary market, investors wishing to buy or sell shares need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market's value.
BOSTON, MA--(Marketwired - Aug 17, 2015) - Below is the July 2015 Monthly Update for the Liberty All-Star(R) Equity Fund. (NYSE: USA)
Liberty All-Star Equity Fund Monthly Update
Ticker: USA July, 2015
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
--------------------------------------------- ----
(31.6% of equity portfolio)
(Rank from previous month)
--------------------------------------- ----
1 JPMorgan Chase & Co. (1) 2.5%
2 Google, Inc., Class A & C (3) 2.4%
3 State Street Corp. (2) 2.2%
4 Facebook, Inc., Class A (5) 1.9%
5 Citigroup, Inc. (4) 1.9%
6 Salesforce.com, Inc. (6) 1.8%
7 Amazon.com, Inc. (12) 1.6%
8 SunTrust Banks, Inc. (7) 1.5%
9 PulteGroup, Inc. (10) 1.5%
10 Visa, Inc., Class A (11) 1.5%
11 Microsoft Corp. (9) 1.5%
12 Metlife, Inc. ( 1.4%
13 American International Group, Inc. (14) 1.4%
14 Alexion Pharmaceuticals, Inc. (13) 1.3%
15 Regions Financial Corp. (26) 1.3%
16 Hewlett-Packard Co. (16) 1.2%
17 Morgan Stanley (17) 1.2%
18 The Walt Disney Co. (15) 1.2%
19 Gilead Sciences, Inc. (19) 1.2%
20 Carnival Corp. (23) 1.1%
--------------------------------------- ----
Holdings are subject to change.
Monthly Performance
-----------------------------------------------------------------
Performance NAV Market Price Discount
--------------------------------- ----- ------------ --------
Beginning of month value $6.65 $5.75 13.5%
Distributions (Ex-Date July 29) $0.14 $0.14
End of month value $6.60 $5.74 13.0%
Performance for month 1.67% 2.26%
Performance year-to-date 2.91% 2.37%
--------------------------------- ----- ------------ --------
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 includes dividends, and are net of 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.
Sources of distributions to shareholders may include ordinary dividends, long-term capital gains and return of capital. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. If a distribution includes anything other than net investment income, the fund provides a Section 19(a) notice of the best estimate of its distribution sources at that time, available at http://www.all-starfunds.com/. These estimates may not match the final tax characterization (for the full year's distributions) contained in shareholders' 1099-DIV forms after the end of the year.
Net Assets at Month-End ($millions)
-----------------------------------------
Total $1,197.4
Equities $1,182.3
Percent Invested 98.7%
------------------------------ --------
Sector Breakdown (% of equity portfolio)*
-------------------------------------------------
Financials 30.2%
Information Technology 20.1%
Consumer Discretionary 16.9%
Health Care 12.9%
Energy 8.9%
Consumer Staples 5.5%
Industrials 4.8%
Materials 0.7%
Total Market Value 100.0%
------------------------------ -------- ------
*Based on Standard & Poor's and MSCI Barra Global
Industry Classification Standard (GICS).
New Holdings Holdings Liquidated
------------------------------ -------------------
Baxalta, Inc The Boeing Co.
The Chemours Co. Comerica, Inc.
Humana, Inc. Stratasys Ltd.
J.B. Hunt Transport Services, Toll Brothers, Inc.
Inc.
Liberty All-Star(R) Equity Fund Declares Distribution
Jul 20, 2015 09:15:00 (ET)
BOSTON--(BUSINESS WIRE)--July 20, 2015--
The Board of Trustees of Liberty All-Star Equity Fund (NYSE: USA) has declared a distribution of $0.14 per share payable on September 14, 2015 to shareholders of record on July 31, 2015 (ex-dividend date of July 29, 2015). This distribution is in accordance with the Fund's current distribution policy of paying distributions on its shares totaling approximately 8 percent of its net asset value per year, payable in four quarterly installments of 2.0 percent. A portion of the distribution may be treated as paid from sources other than net income, including but not limited to short-term capital gain, long-term capital gain and return of capital. The final determination of the source of all distributions in 2015 for tax reporting purposes, including the percentage of qualified dividend income, will be made after year-end.
The distribution will be paid in newly issued shares to all shareholders except those who are not participating in Liberty All-Star Equity Fund's Dividend Reinvestment Plan and who elect to receive the distribution in cash. Shares will be issued at the lower of the August 28, 2015 net asset value per share or market value per share (but not less than 95% of market value). The market value of the Fund's shares for this purpose will be the last sales price on the New York Stock Exchange.
ALPS Advisors, Inc. is the investment advisor of the Liberty All-Star Equity Fund, a multi-managed, closed-end investment company with more than $1.2 billion in net assets. The Fund's shares are listed on the New York Stock Exchange under the symbol USA.
The Liberty All-Star Equity Fund is a closed-end fund and does not continuously offer shares. The Fund trades in the secondary market, investors wishing to buy or sell shares need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market's value.
Past performance cannot predict future results.
An investment in the Fund involves risk, including loss of principal.
BOSTON, MA--(Marketwired - Jun 11, 2015) - Below is the May 2015 Monthly Update for the Liberty All-Star(R) Equity Fund. (NYSE: USA)
Liberty All-Star Equity Fund Monthly Update
Ticker: USA May, 2015
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
---------------------------------------------------------- ----
(29.6% of equity portfolio)
(Rank from previous month)
--- --------------------------------------------------- ----
1 JPMorgan Chase & Co. (1) 2.4%
2 State Street Corp. (2) 2.3%
3 Citigroup, Inc. (4) 1.7%
4 Salesforce.com, Inc. (3) 1.7%
5 Facebook, Inc., Class A (7) 1.6%
6 Google, Inc., Class A & C (5) 1.6%
7 SunTrust Banks, Inc. ( 1.5%
8 Microsoft Corp. (6) 1.5%
9 Apple, Inc. (10) 1.5%
10 Visa, Inc., Class A (9) 1.4%
11 MetLife, Inc. (12) 1.3%
12 Amazon.com, Inc. (11) 1.3%
13 Hewlett-Packard Co. (13) 1.3%
14 PulteGroup, Inc. (15) 1.3%
15 Alexion Pharmaceuticals, Inc. (23) 1.3%
16 American International Group, Inc. (1 1.2%
17 Marriott International, Inc., Class A (14) 1.2%
18 The Walt Disney Co. (17) 1.2%
19 Gilead Sciences, Inc. (27) 1.2%
20 Weatherford International Ltd. (16) 1.1%
--- --------------------------------------------------- ----
Holdings are subject to change.
Monthly Performance
-------------------------- -----------------------------
Performance NAV Market Price Discount
-------------------------- ----- ------------ --------
Beginning of month value $6.70 $5.84 12.8%
Distributions - -
End of month value $6.74 $5.87 12.9%
Performance for month 0.60% 0.51%
Performance year-to-date 2.59% 2.19%
------------------------- ----- ------------ --------
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 includes dividends, and are net of 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.
Sources of distributions to shareholders may include ordinary dividends, long-term capital gains and return of capital. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. If a distribution includes anything other than net investment income, the fund provides a Section 19(a) notice of the best estimate of its distribution sources at that time, available at www.all-starfunds.com. These estimates may not match the final tax characterization (for the full year's distributions) contained in shareholders' 1099-DIV forms after the end of the year.
Net Assets at Month-End ($millions)
---------------------------------------
Total $1,212.0
Equities $1,201.4
Percent Invested 99.1%
------------------------- -----------
Sector Breakdown (% of equity portfolio)*
--------------------------------------------- ------
Financials 28.9%
Information Technology 21.1%
Consumer Discretionary 16.8%
Health Care 11.7%
Energy 10.5%
Consumer Staples 5.5%
Industrials 4.7%
Materials 0.8%
Total Market Value 100.0%
--------------------------------------------- ------
*Based on Standard & Poor's and MSCI Barra Global
Industry Classification Standard (GICS).
New Holdings Holdings Liquidated
----------------------- --------------------------------
Harley-Davidson, Inc. Avnet, Inc.
HMS Holdings Corp. Hologic, Inc.
Viacom, Inc., Class B Micron Technology, Inc.
Virtu Financial, Inc., Class A
BOSTON, MA--(Marketwired - May 15, 2015) - Below is the April 2015 Monthly Update for the Liberty All-Star(R) Equity Fund. (NYSE: USA)
Liberty All-Star Equity Fund Monthly Update
Ticker: USA April, 2015
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
------------------------------------------------ ----
(29.3% of equity portfolio)
(Rank from previous month)
------------------------------------------ ----
1 JPMorgan Chase & Co. (2) 2.3%
2 State Street Corp. (1) 2.3%
3 Salesforce.com, Inc. (3) 2.1%
4 Citigroup, Inc. (4) 1.7%
5 Google, Inc., Class A & C (5) 1.6%
6 Microsoft Corp. (13) 1.5%
7 Facebook, Inc., Class A (6) 1.5%
8 SunTrust Banks, Inc. (7) 1.5%
9 Visa, Inc., Class A ( 1.3%
10 Apple, Inc. (15 1.3%
11 Amazon.com, Inc. (15) 1.3%
12 MetLife, Inc. (10) 1.3%
13 Hewlett-Packard Co. (12) 1.3%
14 Marriott International, Inc., Class A (11) 1.2%
15 PulteGroup, Inc. (3 1.2%
16 Weatherford International Ltd. (21) 1.2%
17 The Walt Disney Co. (34) 1.2%
18 American International Group, Inc. (14) 1.2%
19 QUALCOMM, Inc. (16) 1.2%
20 Chesapeake Energy Corp. (22) 1.1%
------------------------------------------ ----
Holdings are subject to change.
Monthly Performance
--------------------------------------- -----------------------------------
Performance NAV Market Price Discount
--------------------------------------- ------- --------------- ---------
Beginning of month value $6.72 $5.84 13.1%
Distributions (Ex-Date April 29) $0.14 $0.14
End of month value $6.70 $5.84 12.8%
Performance for month 2.09% 2.40%
Performance year-to-date 1.99% 1.68%
-------------------------------------- ------- --------------- ---------
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 includes
dividends, and are net of management fees and other
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.
Sources of distributions to shareholders may include
ordinary dividends, long-term capital gains and return
of capital. The actual amounts and sources of the
amounts for tax reporting purposes will depend upon
the Fund's investment experience during the remainder
of its fiscal year and may be subject to changes based
on tax regulations. If a distribution includes anything
other than net investment income, the fund provides
a Section 19(a) notice of the best estimate of its
distribution sources at that time, available at www.all-starfunds.com.
These estimates may not match the final tax characterization
(for the full year's distributions) contained in shareholders'
1099-DIV forms after the end of the year.
Net Assets at Month-End ($millions)
-------------------------------------------------------------
Total $1,205.2
Equities $1,200.5
Percent Invested 99.6%
-------------------------------------------------- --------
Sector Breakdown (% of equity portfolio)*
--------------------------------------------------- -------- ------
Financials 28.1%
Information Technology 21.7%
Consumer Discretionary 16.9%
Health Care 11.5%
Energy 11.2%
Consumer Staples 5.1%
Industrials 4.7%
Materials 0.8%
Total Market Value 100.0%
--------------------------------------------------- -------- ------
*Based on Standard & Poor's and MSCI Barra Global
Industry Classification Standard (GICS).
New Holdings Holdings Liquidated
----------------------- ------------------------
The Coca-Cola Company Comcast Corp., Class A
Wal-Mart Stores, Inc.
Liberty All-Star(R) Equity Fund Declares Distribution
Apr 20, 2015 08:00:00 (ET)
BOSTON--(BUSINESS WIRE)--April 20, 2015--
The Board of Trustees of Liberty All-Star Equity Fund (NYSE: USA) has declared a distribution of $0.14 per share payable on June 15, 2015 to shareholders of record on May 1, 2015 (ex-dividend date of April 29, 2015). This distribution reflects the Board of Trustees decision to change the Fund's distribution policy from an annual rate of approximately 6 percent (1.5 percent quarterly) of net asset value to approximately 8 percent (2.0 percent quarterly). A portion of the distribution may be treated as paid from sources other than net income, including but not limited to short-term capital gain, long-term capital gain and return of capital. The final determination of the source of all distributions in 2015 for tax reporting purposes, including the percentage of qualified dividend income, will be made after year-end.
The distribution will be paid in newly issued shares to all shareholders except those who are not participating in Liberty All-Star Equity Fund's Dividend Reinvestment Plan and who elect to receive the distribution in cash. Shares will be issued at the lower of the May 29, 2015 net asset value per share or market value per share (but not less than 95% of market value). The market value of the Fund's shares for this purpose will be the last sales price on the New York Stock Exchange.
ALPS Advisors, Inc. is the investment advisor of the Liberty All-Star Equity Fund, a multi-managed, closed-end investment company with more than $1.2 billion in net assets. The Fund's shares are listed on the New York Stock Exchange under the symbol USA.
The Liberty All-Star Equity Fund is a closed-end fund and does not continuously offer shares. The Fund trades in the secondary market, investors wishing to buy or sell shares need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market's value.
BOSTON, MA--(Marketwired - Apr 10, 2015) - Below is the March 2015 Monthly Update for the Liberty All-Star(R) Equity Fund. (NYSE: USA)
Liberty All-Star Equity Fund Monthly Update
Ticker: USA March, 2015
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
------------------------------------------------ ----
(28.5% of equity portfolio)
(Rank from previous month)
------------------------------------------ ----
1 State Street Corp. (1) 2.2%
2 JPMorgan Chase & Co. (3) 2.2%
3 Salesforce.com, Inc. (2) 2.2%
4 Citigroup, Inc. (4) 1.8%
5 Google, Inc., Class A & C (6) 1.6%
6 Facebook, Inc., Class A (7) 1.6%
7 SunTrust Banks, Inc. ( 1.5%
8 Visa, Inc., Class A (9) 1.5%
9 Starbucks Corp. (5) 1.4%
10 MetLife, Inc. (12) 1.3%
11 Marriott International, Inc., Class A (10) 1.3%
12 Hewlett-Packard Co. (11) 1.2%
13 Microsoft Corp. (14) 1.2%
14 American International Group, Inc. (15) 1.2%
15 Amazon.com, Inc. (19) 1.1%
16 QUALCOMM, Inc. (16) 1.1%
17 Morgan Stanley (17) 1.1%
18 Alexion Pharmaceuticals, Inc. (21) 1.0%
19 American Tower Corp. (20) 1.0%
20 Cerner Corp. (23) 1.0%
------------------------------------------ ----
Holdings are subject to change.
Monthly Performance
------------------------------------------ --------------------------------
Performance NAV Market Price Discount
------------------------------------------ -------- ------------ --------
Beginning of month value $6.84 $5.93 13.3%
Distributions - -
End of month value $6.72 $5.84 13.1%
Performance for month -1.75% -1.52%
Performance year-to-date -0.10% -0.70%
----------------------------------------- -------- ------------ --------
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 inlcudes dividends,
and are net of 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. Sources of distributions to
shareholders may include ordinary dividends, long-term capital gains and
return of capital. The actual amounts and sources of the amounts for tax
reporting purposes will depend upon the Fund's investment experience during
the remainder of its fiscal year and may be subject to changes based on tax
regulations. If a distribution includes anything other than net investment
income, the fund provides a Section 19(a) notice of the best estimate of its
distribution sources at that time, available at http://www.all-starfunds.com/. These estimates may not match the final tax
characterization (for the full year's distributions) contained in
shareholders' 1099-DIV forms after the end of the year.
Net Assets at Month-End ($millions)
----------------------------------------------------
Total $1,209.8
Equities $1,180.8
Percent Invested 97.6%
----------------------------------------- --------
Sector Breakdown (% of equity portfolio)*
------------------------------------------ -------- ------------
Financials 28.2%
Information Technology 20.6%
Consumer Discretionary 17.9%
Health Care 13.2%
Energy 10.3%
Industrials 4.8%
Consumer Staples 4.1%
Materials 0.8%
Utilities 0.1%
Total Market Value 100.0%
----------------------------------------- -------- ------------
*Based on Standard & Poor's and MSCI Barra
Global Industry Classification Standard
(GICS).
New Holdings Holdings Liquidated
------------------------------------ -------------------------
Ecolab, Inc. Arch Coal, Inc.
HD Supply Holdings, Inc. Church & Dwight Co. Inc
Pandora Media, Inc.
Piedmont Office Realty Trust, Inc.
Royal Caribbean Cruises Ltd.
Liberty All-Star(R) Equity Fund Increases Its Annual Distribution Rate
Mar 30, 2015 09:31:00 (ET)
BOSTON--(BUSINESS WIRE)--March 30, 2015--
The Board of Trustees of Liberty All-Star Equity Fund (NYSE: USA) has approved an increase in the Fund's distribution policy from an annual rate of approximately 6 percent (1.5 percent quarterly) of net asset value to approximately 8 percent (2.0 percent quarterly). The increase was adopted primarily to better align the Fund's distribution rate with historical equity market returns.
The first distribution under the new rate is expected to be declared payable on or about April 20, 2015 to shareholders of record on or about May 1, 2015.
A portion of the Fund's distributions may be treated as paid from sources other than net income, including but not limited to short-term capital gain, long-term capital gain and return of capital. The final determination of the source of all distributions in 2015 for tax reporting purposes, including the percentage of qualified dividend income, will be made after year-end. If the Fund's net investment income and net realized capital gains for any year exceed the amount distributed under the distribution policy, the Fund may, in its discretion, retain and not distribute capital gains and pay income tax thereon to the extent of such excess.
ALPS Advisors, Inc. is the investment advisor of the Liberty All-Star Equity Fund, a multi-managed, closed-end investment company with more than $1.2 billion in net assets. The Fund's shares are listed on the New York Stock Exchange under the symbol USA.
The Liberty All-Star Equity Fund is a closed-end fund and does not continuously offer shares. The Fund trades in the secondary market, investors wishing to buy or sell shares need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market's value.
Past performance cannot predict future results.
An investment in the Fund involves risk, including loss of principal.
CONTACT: Liberty All-Star Equity Fund, Inc.
Bill Parmentier, 1-800-241-1850
www.all-starfunds.com
SOURCE: Liberty All-Star Equity Fund, Inc.
Copyright Business Wire 2015
Liberty All-Star(R) Equity Fund February 2015 Update
BOSTON, MA--(Marketwired - Mar 10, 2015) - Below is the February 2015 Monthly Update for the Liberty All-Star(R) Equity Fund. (NYSE: USA)
Liberty All-Star Equity Fund Monthly Update
Ticker: USA February 2015
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
------------------------------------------------------------ -----
(29.0% of equity portfolio)
(Rank from previous month)
--- ----------------------------------------------------- -----
1 State Street Corp. (1) 2.2%
2 Salesforce.com, Inc. (2) 2.2%
3 JPMorgan Chase & Co. (3) 2.1%
4 Citigroup, Inc. (5) 1.8%
5 Starbucks Corp. (4) 1.8%
6 Google, Inc., Class A & C (6) 1.7%
7 Facebook, Inc., Class A (10) 1.5%
8 SunTrust Banks, Inc. ( 1.5%
9 Visa, Inc., Class A (7) 1.5%
10 Marriott International, Inc., Class A (12) 1.3%
11 Hewlett-Packard Co. (9) 1.3%
12 MetLife, Inc. (13) 1.3%
13 Schlumberger Ltd. (11) 1.2%
14 Microsoft Corp. (16) 1.2%
15 American International Group, Inc. (14) 1.2%
16 QUALCOMM, Inc. (15) 1.1%
17 Morgan Stanley (1 1.1%
18 Weatherford International Ltd. (29) 1.0%
19 Amazon.com, Inc. (17) 1.0%
20 American Tower Corp. (19) 1.0%
--- ----------------------------------------------------- -----
Holdings are subject to change.
Monthly Performance
-------------------- -------------------------------------------
Performance NAV Market Price Discount
-------------------- --------- ------------------ ------------
Beginning of month
value $6.41 $5.57 13.1%
Distributions - -
End of month value $6.84 $5.93 13.3%
Performance for
month 6.71% 6.46%
Performance
year-to-date 1.68% 0.83%
-------------------- --------- ------------------ ------------
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 and are net of
management fees and other 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.
Sources of distributions to shareholders may include net investment
income, net realized short-term capital gains, net realized
long-term capital gains and return of capital. The actual amounts
and sources of the amounts for tax reporting purposes will depend
upon the Fund's investment experience during the remainder of its
fiscal year and may be subject to changes based on tax regulations.
If a distribution includes anything other than net investment
income, the fund provides a Section 19(a) notice of the best
estimate of its distribution sources at that time, available at http://www.all-starfunds.com/. These estimates may not match the
final tax characterization (for the full year's distributions)
contained in shareholders' 1099-DIV forms after the end of the
year.
Net Assets at Month-End ($millions)
-------------------------------------------------------------
Total $1,224.6
Equities $1,205.0
Percent Invested 98.4%
-------------------------------------------------- --------
Sector Breakdown (% of equity portfolio)*
--------------------------------------------------- -------- ------
Financials 28.3%
Information Technology 21.2%
Consumer Discretionary 17.6%
Health Care 12.9%
Energy 10.6%
Industrials 4.8%
Consumer Staples 3.9%
Materials 0.6%
Utilities 0.1%
Total Market Value 100.0%
--------------------------------------------------- -------- ------
*Based on Standard & Poor's and MSCI Barra Global
Industry Classification Standard (GICS).
New Holdings Holdings Liquidated
---------------------- -------------------------------
Apple, Inc. Oceaneering International, Inc.
FireEye, Inc. Pharmacyclics, Inc.
Monster Beverage Corp. SABMiller PLC
Yelp, Inc. Trimble Navigation Ltd.
Liberty All-Star(R) Equity Fund January 2015 Update
Feb 19, 2015 09:45:00 (ET)
Liberty All-Star(R) Equity Fund January 2015 Update
BOSTON, MA--(Marketwired - Feb 19, 2015) - Below is the January 2015 Monthly Update for the Liberty All-Star(R) Equity Fund. (NYSE: USA)
Liberty All-Star Equity Fund Monthly Update
Ticker: USA January, 2015
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
------------------------------------------------ ----
(29.1% of equity portfolio)
(Rank from previous month)
--------------------------------------------------------
1 State Street Corp. (3) 2.2%
2 Salesforce.com, Inc. (2) 2.1%
3 JPMorgan Chase & Co. (1) 2.1%
4 Starbucks Corp. (7) 1.8%
5 Citigroup, Inc. (4) 1.7%
6 Google, Inc., Class A & C (5) 1.7%
7 Visa, Inc., Class A (6) 1.6%
8 SunTrust Banks, Inc. ( 1.5%
9 Hewlett-Packard Co. (9) 1.4%
10 Facebook, Inc., Class A (14) 1.4%
11 Schlumberger Ltd. (19) 1.4%
12 Marriott International, Inc., Class A (15) 1.3%
13 MetLife, Inc. (11) 1.3%
14 American International Group, Inc. (10) 1.2%
15 QUALCOMM, Inc. (13) 1.1%
16 Microsoft Corp. (16) 1.1%
17 Amazon.com, Inc. (20) 1.1%
18 Morgan Stanley (1 1.1%
19 American Tower Corp. (21) 1.0%
20 Cerner Corp. (25) 1.0%
------------------------------------------ ----
Holdings are subject to change.
Monthly Performance
----------------------------------- ------------------------------
Performance NAV Market Price Discount
----------------------------------- ------ ------------ --------
Beginning of month value $6.84 $5.98 12.6%
----------------------------------- ------ ------------ --------
Distributions (Ex-Date January 21) $0.10 $0.10
----------------------------------- ------ ------------ --------
End of month value $6.41 $5.57 13.1%
----------------------------------- ------ ------------ --------
Performance for month -4.60% -5.18%
----------------------------------- ------ ------------ --------
Performance year-to-date -4.60% -5.18%
----------------------------------- ------ ------------ --------
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.
Sources of distributions to shareholders may include net investment income,
net realized short-term capital gains, net realized long-term capital gains
and return of capital. The actual amounts and sources of the amounts for tax
reporting purposes will depend upon the Fund's investment experience during
the remainder of its fiscal year and may be subject to changes based on tax
regulations. If a distribution includes anything other than net investment
income, the fund provides a Section 19(a) notice of the best estimate of its
distribution sources at that time, available at http://www.all-starfunds.com/.
These estimates may not match the final tax characterization (for the full
year's distributions) contained in shareholders' 1099-DIV forms after the end
of the year.
Net Assets at Month-End ($millions)
--------------------------------------
Total $1,147.3
------------------------- -----------
Equities $1,126.4
------------------------- -----------
Percent Invested 98.2%
------------------------- -----------
Sector Breakdown (% of equity portfolio)*
---------------------------------------------------------
Financials 28.0%
----------------------------------------- ----------
Information Technology 20.7%
----------------------------------------- ----------
Consumer Discretionary 17.2%
----------------------------------------- ----------
Health Care 13.1%
----------------------------------------- ----------
Energy 10.9%
----------------------------------------- ----------
Industrials 5.4%
----------------------------------------- ----------
Consumer Staples 4.0%
----------------------------------------- ----------
Materials 0.6%
----------------------------------------- ----------
Utilities 0.1%
----------------------------------------- ----------
Total Market Value 100.0%
----------------------------------------- ----------
*Based on Standard & Poor's and MSCI Barra Global
Industry Classification Standard (GICS).
New Holdings Holdings Liquidated
----------------------------- -----------------------------------
Church & Dwight Co., Inc. Cobalt International Energy, Inc.
Mobileye N.V. Delphi Automotive PLC
SM Energy Co. Las Vegas Sands Corp.
Under Armour, Inc., Class A Tesla Motors, Inc.
United Rentals, Inc.
Liberty All-Star(R) Equity Fund 2014 Tax Information
Feb 10, 2015 19:19:00 (ET)
BOSTON--(BUSINESS WIRE)--February 10, 2015--
Liberty All-Star(R) Equity Fund (NYSE: USA) announces the final tax status for its 2014 distributions as follows:
Total Ordinary Dividends
------------------------
Amount Return
per Long-Term of
Payable Capital
Record Date Date Share Qualified Non-Qualified Gains Capital
----------- --------- --------- --------- ------------- --------- -------
01/24/14 03/10/14 $0.10 26.16% 2.20% 69.42% 2.22%
05/02/14 06/16/14 $0.10 26.16% 2.20% 69.42% 2.22%
08/01/14 09/15/14 $0.10 26.16% 2.20% 69.42% 2.22%
10/31/14 01/02/15 $0.027962 26.16% 2.20% 69.42% 2.22%
10/31/14** 01/02/15 $0.062038 -- -- -- --
** Pursuant to Section 852 of the Internal Revenue Code, the taxability of this portion of the distribution will be reported in the Form 1099-DIV for 2015.
The tax designations of the distributions were previously reported to shareholders on a tentative book basis. The final tax designations are based upon tax reporting requirements and should be used by shareholders for tax return preparation.
ALPS Advisors, Inc. is the investment advisor of the Liberty All-Star(R) Equity Fund, a multi-managed, closed-end investment company with more than $1.1 billion in net assets. The Fund's shares are listed on the New York Stock Exchange under the symbol USA.
The Liberty All-Star(R) Equity Fund is a closed-end fund and does not continuously offer shares. The Fund trades in the secondary market, investors wishing to buy or sell shares need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market's value.
Liberty All-Star(R) Equity Fund Declares Distribution
Jan 12, 2015 08:30:00 (ET)
BOSTON--(BUSINESS WIRE)--January 12, 2015--
The Board of Trustees of Liberty All-Star Equity Fund (NYSE: USA) has declared a distribution of $0.10 per share payable on March 9, 2015 to shareholders of record on January 23, 2015 (ex-dividend date of January 21, 2015). This distribution is in accordance with the Fund's current distribution policy of paying distributions on its shares totaling approximately 6 percent of its net asset value per year, payable in four quarterly installments of 1.5 percent. A portion of the distribution may be treated as paid from sources other than net income, including but not limited to short-term capital gain, long-term capital gain and return of capital. The final determination of the source of all distributions in 2015 for tax reporting purposes, including the percentage of qualified dividend income, will be made after year-end.
The distribution will be paid in newly issued shares to all shareholders except those who are not participating in Liberty All-Star Equity Fund's Dividend Reinvestment Plan and who elect to receive the distribution in cash. Shares will be issued at the lower of the February 20, 2015 net asset value per share or market value per share (but not less than 95% of market value). The market value of the Fund's shares for this purpose will be the last sales price on the New York Stock Exchange.
ALPS Advisors, Inc. is the investment advisor of the Liberty All-Star Equity Fund, a multi-managed, closed-end investment company with more than $1.1 billion in net assets. The Fund's shares are listed on the New York Stock Exchange under the symbol USA.
The Liberty All-Star Equity Fund is a closed-end fund and does not continuously offer shares. The Fund trades in the secondary market, investors wishing to buy or sell shares need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market's value.
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