Welcome!

Log Management Authors: Dana Gardner, Pat Romanski, Elizabeth White, David H Deans, Carmen Gonzalez

News Feed Item

Liberty All-Star(R) Equity Fund May 2014 Monthly Update

BOSTON, MA -- (Marketwired) -- 06/13/14 -- Below is the May 2014 Monthly Update for the Liberty All-Star® Equity Fund. (NYSE: USA)

Liberty All-Star Equity Fund                                  Monthly Update
  Ticker: USA                                                      May, 2014

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

Top 20 Holdings at Month-End
---------------------------------------------------------------
     (31.6% of equity portfolio)
                   (Rank from previous month)
---------------------------------------------------------------
  1  Google, Inc., Class A (3)                             2.4%
  2  Schlumberger Ltd. (1)                                 2.2%
  3  JPMorgan Chase & Co. (2)                              2.2%
  4  Salesforce.com, Inc. (4)                              1.9%
  5  Citigroup, Inc. (6)                                   1.7%
  6  Bank of America Corp. (7)                             1.7%
  7  Hewlett-Packard Co. (5)                               1.7%
  8  Visa, Inc., Class A (9)                               1.6%
  9  Weatherford International Ltd. (10)                   1.5%
 10  SunTrust Banks, Inc. (8)                              1.5%
 11  QUALCOMM, Inc. (12)                                   1.4%
 12  Starbucks Corp. (13)                                  1.4%
 13  American International Group, Inc. (15)               1.4%
 14  MetLife, Inc. (11)                                    1.4%
 15  Devon Energy Corp. (16)                               1.4%
 16  Precision Castparts Corp. (18)                        1.3%
 17  State Street Corp. (17)                               1.3%
 18  Amazon.com, Inc. (14)                                 1.3%
 19  Microsoft Corp. (19)                                  1.2%
 20  Chesapeake Energy Corp. (22)                          1.1%
---------------------------------------------------------------
     Holdings are subject to change.


Monthly Performance
----------------------------------------------------------------------------
Performance                                      NAV   Market Price Discount
----------------------------------------------------------------------------
  Beginning of month value                      $6.52      $5.76      11.7%
  Distributions                                   -          -
  End of month value                            $6.65      $5.88      11.6%
  Performance for month                         1.99%      2.08%
  Performance year-to-date                      2.52%      1.89%
----------------------------------------------------------------------------

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. 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 net investment income, net realized short-term capital gains, net realized 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 the remainder of 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, available at http://www.all-starfunds.com/. 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                                     $1,173.7
  Equities                                  $1,150.9
  Percent Invested                          98.1%
----------------------------------------------------


Sector Breakdown (% of equity portfolio)*
------------------------------------------------------------------
  Financials                                              27.5%
  Information Technology                                  17.9%
  Consumer Discretionary                                  16.3%
  Energy                                                  14.9%
  Health Care                                             10.8%
  Industrials                                             6.6%
  Consumer Staples                                        4.4%
  Materials                                               1.3%
  Utilities                                               0.3%
Total Market Value                                        100.0%
------------------------------------------------------------------
*Based on Standard & Poor's and MSCI Barra Global Industry
Classification Standard (GICS).


New Holdings                         Holdings Liquidated
------------------------------------------------------------------------
Ameriprise Financial, Inc.           Invesco Ltd.
Trimble Navigation Ltd.              Lululemon Athletica, Inc.
                                     Orient-Express Hotels Ltd., Class A
                                     Whole Foods Market, Inc.

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

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

IoT & Smart Cities Stories
Bill Schmarzo, author of "Big Data: Understanding How Data Powers Big Business" and "Big Data MBA: Driving Business Strategies with Data Science," is responsible for setting the strategy and defining the Big Data service offerings and capabilities for EMC Global Services Big Data Practice. As the CTO for the Big Data Practice, he is responsible for working with organizations to help them identify where and how to start their big data journeys. He's written several white papers, is an avid blogge...
Nicolas Fierro is CEO of MIMIR Blockchain Solutions. He is a programmer, technologist, and operations dev who has worked with Ethereum and blockchain since 2014. His knowledge in blockchain dates to when he performed dev ops services to the Ethereum Foundation as one the privileged few developers to work with the original core team in Switzerland.
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereal. Andrew's role at ConsenSys Enterprise is a mul...
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
Dynatrace is an application performance management software company with products for the information technology departments and digital business owners of medium and large businesses. Building the Future of Monitoring with Artificial Intelligence. Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more busine...
Whenever a new technology hits the high points of hype, everyone starts talking about it like it will solve all their business problems. Blockchain is one of those technologies. According to Gartner's latest report on the hype cycle of emerging technologies, blockchain has just passed the peak of their hype cycle curve. If you read the news articles about it, one would think it has taken over the technology world. No disruptive technology is without its challenges and potential impediments t...
If a machine can invent, does this mean the end of the patent system as we know it? The patent system, both in the US and Europe, allows companies to protect their inventions and helps foster innovation. However, Artificial Intelligence (AI) could be set to disrupt the patent system as we know it. This talk will examine how AI may change the patent landscape in the years to come. Furthermore, ways in which companies can best protect their AI related inventions will be examined from both a US and...
Bill Schmarzo, Tech Chair of "Big Data | Analytics" of upcoming CloudEXPO | DXWorldEXPO New York (November 12-13, 2018, New York City) today announced the outline and schedule of the track. "The track has been designed in experience/degree order," said Schmarzo. "So, that folks who attend the entire track can leave the conference with some of the skills necessary to get their work done when they get back to their offices. It actually ties back to some work that I'm doing at the University of San...
When talking IoT we often focus on the devices, the sensors, the hardware itself. The new smart appliances, the new smart or self-driving cars (which are amalgamations of many ‘things'). When we are looking at the world of IoT, we should take a step back, look at the big picture. What value are these devices providing. IoT is not about the devices, its about the data consumed and generated. The devices are tools, mechanisms, conduits. This paper discusses the considerations when dealing with the...