Liberty All-Star® Equity Fund July 2017 Update

BOSTON, Aug. 15, 2017 (GLOBE NEWSWIRE) -- Below is the July 2017 Monthly Update for the Liberty All-Star® Equity Fund. (NYSE:USA)
             
Liberty All-Star Equity Fund   Monthly Update  
Ticker: USA   July, 2017  
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:      
  Aristotle Capitol Management, LLC      
  Macquarie Investment Management      
  Pzena Investment Management, LLC      
         
Growth Managers:      
  Sustainable Growth Advisers, LP      
  TCW Investment Management Company      
     
Top 20 Holdings at Month-End        
(30.0% of equity portfolio)            
(Rank from previous month)       
1 Facebook, Inc., Class A (2)  2.3 %      
2 Alphabet, Inc., Class C (1)  2.2 %      
3 Visa, Inc., Class A (3)  2.0 %      
4 Salesforce.com, Inc. (4)  1.9 %      
5 Amazon.com, Inc. (5)  1.8 %      
6 Mondelez International, Inc., Class A (6)  1.8 %      
7 The Priceline Group, Inc. (8)  1.7 %      
8 Adobe Systems, Inc. (7)  1.7 %      
9 Oracle Corp. (9)  1.4 %      
10 Equinix, Inc. (13)  1.4 %      
11 Chubb Ltd. (11)  1.4 %      
12 Bank of America Corp. (12)  1.3 %      
13 State Street Corp. (15)  1.3 %      
14 Starbucks Corp. (10)  1.3 %      
15 Lowe's Companies., Inc. (14)  1.3 %      
16 PayPal Holdings, Inc. (17)  1.1 %      
17 American Tower Corp. (16)  1.1 %      
18 Intel Corp. (19)  1.0 %      
19 Celgene Corp. (20)  1.0 %      
20 Acadia Healthcare Co., Inc. (24)  1.0 %      
  Holdings are subject to change.            
     

Monthly Performance                  
Performance NAV Market Price   Discount     
Beginning of month value $6.52 $5.66 -13.2%    
Distributions (Ex-Date July 26) $0.13 $0.13        
End of month value $6.53 $5.72 -12.4%    
Performance for month 2.43% 3.36%        
Performance year-to-date 14.11% 18.74%        
     
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. Returns are 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. 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 $1,245.5          
Equities $1,237.6          
Percent Invested   99.4%          
           
Sector Breakdown (% of equity portfolio)*            
Information Technology   24.0%          
Financials   17.6%          
Health Care   16.1%          
Consumer Discretionary   11.7%          
Energy   8.1%          
Consumer Staples   7.7%          
Industrials   6.0%          
Materials   3.3%          
Real Estate   3.1%          
Utilities   1.3%          
Telecommunication Services   1.1%          
Total Market Value   100.0%          
*Based on Standard & Poor's and MSCI Barra Global Industry Classification Standard (GICS).          
             
New Holdings______________________ Holdings Liquidated______________________  
Ulta Beauty, Inc. Corning, Inc.
West Pharmaceutical Services Time Warner, Inc.
  Whole Foods Market, Inc.
Liberty All-Star Funds 1-800-241-1850

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