Liberty All-Star® Growth Fund, Inc. November 2020 Monthly Update

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The Liberty All-Star Growth Fund (NYSE: ASG) announced its November 2020 update, highlighting a strategic investment approach that incorporates three growth style managers focusing on small, mid, and large-cap stocks. The fund reported a net asset value (NAV) increase for the month to $7.51, reflecting a performance return of 11.73%. Notably, the fund's total assets reached $314.3 million with a percent invested at 101.5%. Top holdings include Chegg, Inc. (2.1%) and Progyny, Inc. (2.0%). The fund aims to deliver significant growth while managing risks associated with market fluctuations.

Positive

• NAV increased to $7.51, representing a 7.2% growth from the previous month.
• Monthly performance return of 11.73%, indicating strong fund performance.
• Total net assets reached $314.3 million.
• The fund has a diverse investment strategy combining small, mid, and large-cap managers.

Negative

• Percent invested exceeds 100% at 101.5%, indicating potential leverage risks.

BOSTON, Dec. 14, 2020 /PRNewswire/ -- Below is the November 2020 Monthly Update for the Liberty All-Star Growth Fund, Inc. (NYSE: ASG)

Liberty All-Star Growth Fund, Inc.
Ticker: ASG
Monthly Update, November, 2020

Investment Approach:
Fund Style: All-Cap Growth
Fund Strategy: Combines three growth style investment managers, each with a distinct capitalization focus (small-, mid- and large-cap) selected and continuously monitored by the Fund's Investment Advisor.

Investment Managers:
	Weatherbie Capital, LLC
	Small-Cap Growth
	Congress Asset Management Company, LLP
	Mid-Cap Growth
	Sustainable Growth Advisers, LP
	Large-Cap Growth

 

Top 20 Holdings at Month-End
(31.4% of equity portfolio)
1	Chegg, Inc.	2.1%
2	Progyny, Inc.	2.0%
3	Paylocity Holding Corp.	1.9%
4	FirstService Corp.	1.9%
5	Nevro Corp.	1.8%
6	Visa, Inc.	1.7%
7	Amazon.com, Inc.	1.6%
8	Microsoft Corp.	1.6%
9	ACADIA Pharmaceuticals, Inc.	1.6%
10	PayPal Holdings, Inc.	1.5%
11	UnitedHealth Group, Inc.	1.5%
12	Natera, Inc.	1.4%
13	Ollie's Bargain Outlet Holdings, Inc.	1.4%
14	Casella Waste Systems, Inc.	1.4%
15	Facebook, Inc.	1.4%
16	Yum! Brands, Inc.	1.4%
17	FleetCor Technologies, Inc.	1.4%
18	Workday, Inc.	1.3%
19	Autodesk, Inc.	1.3%
20	IHS Markit, Ltd.	1.2%
Holdings are subject to change.

 

Monthly Performance
Performance	NAV	Market Price	Premium
Beginning of month value	$6.95	$7.20	3.6%
Distributions (Ex-Date November 12th)*	$0.26	$0.26
End of month value	$7.51	$8.05	7.2%
Performance for month	11.73%	15.61%
Performance year-to-date	33.98%	36.77%
* Includes $0.12 for federal excise tax purposes.

 

Net Assets at Month-End ($millions)
Total	$314.3
Equities	$319.1
Percent Invested	101.5%

 

Sector Breakdown (% of equity portfolio)*
Information Technology	30.5%
Health Care	26.0%
Consumer Discretionary	13.0%
Industrials	12.7%
Financials	5.4%
Communication Services	4.0%
Real Estate	3.4%
Materials	2.7%
Consumer Staples	1.9%
Energy	0.4%
Total Market Value	100.0%
*Based on Standard & Poor's and MSCI Barra Global Industry Classification Standard (GICS).

 

New Holdings
MSCI, Inc.

Holdings Liquidated
Xilinx, Inc.

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 and all primary rights in the Fund's rights offering were exercised. 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 final determination of the source of all distributions in 2020 for tax reporting purposes will be made after year end. 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. Based on current estimates no portion of the distributions consists of a return of capital. These estimates may not match the final tax characterization (for the full year's distributions) contained in shareholder 1099-DIV forms after the end of the year.

All data is as of November 30, 2020 unless otherwise noted.

Liberty All-Star® Growth Fund, Inc.
1-800-241-1850
www.all-starfunds.com
libinfo@alpsinc.com

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SOURCE Liberty All-Star Growth Fund, Inc.