Liberty All-Star® Equity Fund January 2018 Update

BOSTON, Feb. 16, 2018 (GLOBE NEWSWIRE) -- Below is the January 2018 Monthly Update for the Liberty All-Star® Equity Fund. (NYSE:USA)
Liberty All-Star Equity Fund      Monthly Update
Ticker: USA      January, 2018
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  
  (30.1% of equity portfolio)  
     
1 Alphabet, Inc., Class C 2.1 %
2 Amazon.com, Inc. 2.1 %
3 Visa, Inc., Class A 2.1 %
4 Adobe Systems, Inc. 2.0 %
5 Salesforce.com, Inc. 2.0 %
6 Facebook, Inc., Class A 1.9 %
7 Mondelez International, Inc., Class A 1.6 %
8 Bank of America Corp. 1.6 %
9 Halliburton Co. 1.5 %
10 PayPal Holdings, Inc. 1.4 %
11 Equinix, Inc. 1.3 %          
12 Lowe's Companies, Inc. 1.3 %
13 Oracle Corp. 1.3 %
14 Chubb Ltd. 1.2 %
15 The Home Depot, Inc. 1.2 %
16 DowDuPont, Inc. 1.1 %
17 The Priceline Group, Inc. 1.1 %
18 Starbucks Corp. 1.1 %
19 Capital One Financial Corp. 1.1 %
20 JPMorgan Chase & Co. 1.1 %
  Holdings are subject to change.  

Monthly Performance    
Performance NAV Market Price Discount  
Beginning of month value $6.87  $6.30  -8.3%  
Distributions (Ex-Date January 25) $0.18  $0.18     
End of month value $7.12  $6.54  -8.1%  
Performance for month  6.49%  6.67%    
Performance year-to-date  6.49%  6.67%    
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   $1,378.9        
Equities   $1,385.2        
Percent Invested   100.5%        
       
Sector Breakdown (% of equity portfolio)*        
Information Technology     24.4%    
Financials     17.3%    
Health Care     14.5%    
Consumer Discretionary     14.3%    
Energy     8.6%    
Consumer Staples     6.4%    
Industrials     6.0%    
Materials     3.3%    
Real Estate     2.8%    
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  
None     Cigna Corp.  
      Parker-Hannifin Corp.  
      Seagate Technology PLC  

Liberty All-Star® Equity Fund1-800-241-1850www.all-starfunds.com

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