9-16-13 10:48 AM EDT | Email Article
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BOSTON, MA -- (Marketwired) -- 09/16/13 -- Below is the August 2013 Monthly Update for the Liberty All-Star® Equity Fund. (NYSE: USA)


  Liberty All-Star Equity Fund                                Monthly Update
  Ticker: USA                                                   August, 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


Monthly Performance
----------------------------------------------------------------------------
Performance                        NAV      Market Price      Discount
----------------------------------------------------------------------------
  Beginning of month value        $6.11        $5.52            9.7%
----------------------------------------------------------------------------
  Distributions                     -            -
----------------------------------------------------------------------------
  End of month value              $5.97        $5.38            9.9%
----------------------------------------------------------------------------
  Performance for month           -2.29%       -2.54%
----------------------------------------------------------------------------
  Performance year-to-date        17.01%       18.27%
----------------------------------------------------------------------------

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                       $1,119.8
-------------------------------------------
  Equities                    $1,101.9
-------------------------------------------
  Percent Invested            98.4%
-------------------------------------------


Top 20 Holdings at Month-End
----------------------------------------------------------------------------
        (31.9% of equity portfolio)
                                    (Rank from previous month)
----------------------------------------------------------------------------
1       QUALCOMM, Inc. (2)                                              2.6%
----------------------------------------------------------------------------
2       Google, Inc., Class A (1)                                       2.5%
----------------------------------------------------------------------------
3       JPMorgan Chase & Co. (3)                                        2.2%
----------------------------------------------------------------------------
4       Schlumberger Ltd. (4)                                           2.0%
----------------------------------------------------------------------------
5       Salesforce.com, Inc. (10)                                       1.8%
----------------------------------------------------------------------------
6       Citigroup, Inc. (5)                                             1.7%
----------------------------------------------------------------------------
7       Bank of America Corp. (6)                                       1.6%
----------------------------------------------------------------------------
8       MetLife, Inc. (9)                                               1.5%
----------------------------------------------------------------------------
9       Morgan Stanley (11)                                             1.5%
----------------------------------------------------------------------------
10      SunTrust Banks, Inc. (8)                                        1.5%
----------------------------------------------------------------------------
11      Devon Energy Corp. (15)                                         1.4%
----------------------------------------------------------------------------
12      American International Group, Inc. (13)                         1.4%
----------------------------------------------------------------------------
13      Microsoft Corp. (16)                                            1.4%
----------------------------------------------------------------------------
14      Chesapeake Energy Corp. (19)                                    1.3%
----------------------------------------------------------------------------
15      Amazon.com, Inc. (17)                                           1.3%
----------------------------------------------------------------------------
16      Visa, Inc., Class A (14)                                        1.3%
----------------------------------------------------------------------------
17      TE Connectivity Ltd. (7)                                        1.3%
----------------------------------------------------------------------------
18      State Street Corp. (18)                                         1.2%
----------------------------------------------------------------------------
19      Hewlett-Packard Co. (12)                                        1.2%
----------------------------------------------------------------------------
20      Starbucks Corp. (23)                                            1.2%
----------------------------------------------------------------------------
        Holdings are subject to change.


Sector Breakdown (% of equity portfolio)*
----------------------------------------------------------------------------
  Financials                                                    24.8%
----------------------------------------------------------------------------
  Information Technology                                        20.3%
----------------------------------------------------------------------------
  Energy                                                        14.5%


----------------------------------------------------------------------------
  Consumer Discretionary                                        13.7%
----------------------------------------------------------------------------
  Health Care                                                   9.3%
----------------------------------------------------------------------------
  Industrials                                                   7.3%
----------------------------------------------------------------------------
  Consumer Staples                                              6.0%
----------------------------------------------------------------------------
  Materials                                                     2.6%
----------------------------------------------------------------------------
  Telecommunication Services                                    0.8%
----------------------------------------------------------------------------
  Utilities                                                     0.7%
----------------------------------------------------------------------------
Total Market Value                                              100.0%
----------------------------------------------------------------------------
*Based on Standard & Poor's and MSCI Barra Global Industry
Classification Standard (GICS).


New Holdings                            Holdings Liquidated
----------------------------------------------------------------------------
Capital One Financial Corp.             Aetna, Inc.
Dril-Quip, Inc.                         Dollar General Corp.
First Republic Bank                     Molson Coors Brewing Co.
McDonald's Corp.                        NetApp, Inc.
News Corp.                              Rockwell Automation, Inc.
Onyx Pharmaceuticals, Inc.
PulteGroup, Inc.
PVH Corp.
TRW Automotive Holdings Corp.

Contact Information:
Liberty All-Star Equity Fund
1-800-241-1850
www.all-starfunds.com

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Morningstar - 2013/9/16 - Liberty All-Star(R) Equity Fund August 2013 Monthly Update
Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol |  Title Star Rating |  Category |  Total Assets |  Top Holdings |  Top Sectors |  Symbol |  Name Topic |  Sector |  Key Indicators |  User Interest |  Market Cap |  Industry Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol / Ticker |  Title Star Rating |  Category |  Total Assets |  Symbol / Ticker |  Name Title |  Date |  Author |  Collection |  Popularity |  Interest Title |  Date |  Company |  Symbol |  Interest |  Popularity Title |  Date |  Company |  Symbol |  Interest |  Popularity Title |  Date |  Author |  Collection |  Interest |  Popularity

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