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

Rhea-AI Summary

The Liberty All-Star Equity Fund (NYSE: USA) released its monthly update for November 2020, highlighting its large-cap core investment strategy that utilizes both value and growth managers. The fund's net assets reached $1,528.8 million, with a 99.5% investment rate. November performance showed a 13.27% increase in NAV, while market price increased by 16.03%, although the fund traded at a -7.6% discount. Top holdings included Amazon.com, PayPal, and Adobe. A distribution of $0.16 per share was declared on November 12, 2020.

Positive

• November NAV increased by 13.27%.
• Market price rose by 16.03%.
• Total net assets reached $1,528.8 million.
• 99.5% of assets are invested, indicating active management.

Negative

• Fund traded at a -7.6% discount to NAV.
• Performance fluctuations in market conditions could impact future results.

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

Liberty All-Star Equity Fund
Ticker: USA               
Monthly Update, November, 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
	(31.7% of equity portfolio)
1	Amazon.com, Inc.	2.5%
2	PayPal Holdings, Inc.	2.4%
3	Adobe, Inc.	2.1%
4	Visa, Inc.	2.0%
5	Facebook, Inc.	1.9%
6	Alphabet, Inc.	1.8%
7	Microsoft Corp.	1.8%
8	salesforce.com, Inc.	1.7%
9	UnitedHealth Group, Inc.	1.6%
10	Danaher Corp.	1.5%
11	JPMorgan Chase & Co.	1.5%
12	Sony Corp.	1.5%
13	ServiceNow, Inc.	1.3%
14	IHS Markit, Ltd.	1.3%
15	Berkshire Hathaway, Inc.	1.3%
16	General Electric Co.	1.2%
17	Equinix, Inc.	1.1%
18	Chubb, Ltd.	1.1%
19	Capital One Financial Corp.	1.1%
20	American International Group, Inc.	1.0%

Holdings are subject to change.

Monthly Performance:
Performance	NAV	Market Price	Discount
Beginning of month value	$6.43	$5.80	-9.8%
Distributions (Ex-Date November 12th)	$0.16	$0.16
End of month value	$7.11	$6.57	-7.6%
Performance for month	13.27%	16.03%
Performance year-to-date	13.92%	7.29%

           

Net Assets at Month-End ($millions)
Total	$1,528.8
Equities	$1,520.7
Percent Invested	99.5%

 

Sector Breakdown (% of equity portfolio)*
Information Technology	21.9%
Financials	16.8%
Consumer Discretionary	14.4%
Health Care	13.8%
Industrials	12.3%
Communication Services	6.0%
Materials	4.4%
Energy	3.6%
Consumer Staples	3.5%
Real Estate	2.3%
Utilities	1.0%
Total Market Value	100.0%

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

New Holdings
Cie Generale des Etablissements Michelin SCA
MSCI, Inc.

Holdings Liquidated
Carnival Corp.
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. 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 November 30, 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 is the performance of the Liberty All-Star Equity Fund (USA) for November 2020?

The fund experienced a NAV increase of 13.27% and a market price increase of 16.03% for November 2020.

How did the net assets of the Liberty All-Star Equity Fund (USA) change in November 2020?

Net assets reached $1,528.8 million by the end of November 2020.

What was the distribution declared by the Liberty All-Star Equity Fund (USA) in November 2020?

The fund declared a distribution of $0.16 per share on November 12, 2020.

What was the discount rate for the Liberty All-Star Equity Fund (USA) at the end of November 2020?

The fund traded at a -7.6% discount to its NAV at the end of November 2020.

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

The fund is managed by value and growth managers, including Aristotle Capital Management and Sustainable Growth Advisers.