LIBERTY ALL STAR EQUITY FUND

Liberty All-Star Equity Fund is a diversified, closed-end equity fund designed to pursue total investment return, comprised of both long-term capital appreciation and current income. Structured as a multi-managed fund, it allocates its portfolio nearly equally among several independent investment management organizations, each employing distinct investment styles. This unique structure blends contributions from three value managers focused on undervalued companies with strong fundamentals, and two growth managers who target firms with superior growth prospects and market leadership. The fund primarily invests in the equity securities of large-cap U.S. companies, spanning diverse sectors and industries, with a mandate to hold at least 80% of its assets in equities under normal market conditions. By balancing value and growth strategies, the fund seeks to deliver steady returns while mitigating risk through diversification. Managed by ALPS Advisors, Inc., with oversight from five sub-advisors, Liberty All-Star Equity Fund is recognized for its quarterly distributions and actively managed investment approach. Its portfolio is frequently benchmarked against major indices such as the S&P 500, reflecting its broad role in providing core equity exposure within the U.S. market.