Liberty All-Star Equity Fund December 2020 Monthly Update

Rhea-AI Summary

The Liberty All-Star Equity Fund (NYSE: USA) has released its December 2020 Monthly Update. The fund, employing a large-cap core strategy, works with a blend of five experienced investment managers. As of December 31, 2020, the net assets totaled $1,599.1 million with 97.8% invested in equities. The fund's monthly performance recorded a 3.66% increase in NAV, leading to a year-to-date performance of 18.03%. The top holdings include Amazon, PayPal, and Adobe. New investments included Amdocs and Walt Disney, while Becton Dickinson was liquidated.

Positive

• Monthly NAV performance increased by 3.66%.
• Year-to-date performance reached 18.03%.
• Total net assets at month-end were $1,599.1 million.

Negative

• Equity holdings showed a discount of -6.4% compared to the NAV.
• Market price decreased by -7.6% at the beginning of the month.

BOSTON, Jan. 14, 2021 /PRNewswire/ -- Below is the December 2020 Monthly Update for the Liberty All-Star Equity Fund. (NYSE: USA)

Liberty All-Star Equity Fund
Ticker: USA               
Monthly Update, December, 2020

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 Capital Management, LLC  
            Fiduciary Management, Inc.               
            Pzena Investment Management, LLC                       
Growth Managers:
            Sustainable Growth Advisers, LP      
            TCW Investment Management Company

Top 20 Holdings at Month-End
	(31.5% of equity portfolio)
1	Amazon.com, Inc.	2.5%
2	PayPal Holdings, Inc.	2.5%
3	Adobe, Inc.	2.1%
4	Visa, Inc.	2.0%
5	Microsoft Corp.	1.8%
6	Facebook, Inc.	1.8%
7	Alphabet, Inc.	1.8%
8	UnitedHealth Group, Inc.	1.7%
9	salesforce.com, Inc.	1.6%
10	JPMorgan Chase & Co.	1.6%
11	Sony Corp.	1.5%
12	Danaher Corp.	1.4%
13	ServiceNow, Inc.	1.3%
14	Berkshire Hathaway, Inc.	1.2%
15	General Electric Co.	1.2%
16	Capital One Financial Corp.	1.2%
17	Equinix, Inc.	1.1%
18	Chubb, Ltd.	1.1%
19	IHS Markit, Ltd.	1.1%
20	Charles Schwab Corp.	1.0%
Holdings are subject to change.

 

Monthly Performance:
Performance	NAV	Market Price	Discount
Beginning of month value	$7.11	$6.57	-7.6%
End of month value	$7.37	$6.90	-6.4%
Performance for month	3.66%	5.02%
Performance year-to-date	18.03%	12.63%

           

Net Assets at Month-End ($millions)
Total	$1,599.1
Equities	$1,563.9
Percent Invested	97.8%

 

Sector Breakdown (% of equity portfolio)*
Information Technology	21.8%
Financials	17.4%
Consumer Discretionary	14.8%
Health Care	13.6%
Industrials	11.4%
Communication Services	6.3%
Materials	3.9%
Energy	3.8%
Consumer Staples	3.5%
Real Estate	2.3%
Utilities	1.2%
Total Market Value	100.0%

*Based on Standard & Poor's and MSCI Barra Global Industry Classification Standard (GICS).

New Holdings
Amdocs, Ltd.
American Express Co.
Walt Disney Co.

Holdings Liquidated
Becton Dickinson and Co.
Ecolab, Inc.
HD Supply Holdings, 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. 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 a 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 December 31, 2020 unless otherwise noted.                       

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

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SOURCE Liberty All-Star Funds

FAQ

What was the performance of the Liberty All-Star Equity Fund (USA) in December 2020?

The fund recorded a monthly performance increase of 3.66%.

What were the total net assets of the Liberty All-Star Equity Fund (USA) at the end of December 2020?

The total net assets were $1,599.1 million.

Who are the investment managers for the Liberty All-Star Equity Fund (USA)?

The fund is managed by Aristotle Capital, Fiduciary Management, Pzena Investment Management, Sustainable Growth Advisers, and TCW Investment Management.

What changes were made to the holdings of the Liberty All-Star Equity Fund (USA) in December 2020?

New holdings included Amdocs and Walt Disney, while holdings in Becton Dickinson were liquidated.

What percentage of the Liberty All-Star Equity Fund (USA) is invested in equities?

97.8% of the fund's total assets are invested in equities.