Liberty All-Star(R) Equity Fund January 2014 Monthly Update
Feb 12, 2014 15:23:00 (ET)
Liberty All-Star(R) Equity Fund January 2014 Monthly Update
BOSTON, MA--(Marketwired - Feb 12, 2014) - Below is the January 2014 Monthly Update for the Liberty All-Star(R) 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
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(31.0% of equity portfolio)
(Rank from previous month)
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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. (
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. (1 1.1%
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Holdings are subject to change.
Monthly Performance
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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 $5.63 11.9%
Performance for month -3.08% -4.02%
Performance year-to-date -3.08% -4.02%
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The net asset value (NAV) of a closed-end fund is
the market value of the underlying investments (i.e.,
stocks and bonds) in the Fund's portfolio, minus liabilities,
divided by the total number of Fund shares outstanding.
However, the Fund also has a market price; the value
at which it trades on an exchange. If the market price
is above the NAV the Fund is trading at a premium.
If the market price is below the NAV the Fund is trading
at a discount.
Returns for the Fund are total returns, which include
dividends, after deducting Fund expenses. The Fund's
performance is calculated assuming that a shareholder
reinvested all distributions. Past performance cannot
predict future investment results.
Performance will fluctuate with changes in market
conditions. Current performance may be lower or higher
than the performance data shown. Performance information
shown does not reflect the deduction of taxes that
shareholders would pay on Fund distributions or the
sale of Fund shares. Shareholders must be willing
to tolerate significant fluctuations in the value
of their investment. An investment in the Fund involves
risk, including loss of principal.
Net Assets at Month-End ($millions)
---------------------------------------
Total $1,121.3
Equities $1,109.3
Percent Invested 98.9%
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Sector Breakdown (% of equity portfolio)*
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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.
Contact Information:
Liberty All-Star Equity Fund
1-800-241-1850
www.all-starfunds.com
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