Liberty All-Star(R) Equity Fund June 2016 Update
/EINPresswire.com/ -- BOSTON, MA -- (Marketwired) -- 07/19/16 -- Below is the June 2016 Monthly Update for the Liberty All-Star® Equity Fund. (NYSE: USA)
Liberty All-Star Equity Fund Monthly Update
Ticker: USA June, 2016
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 Capitol Management, LLC
Delaware Investments
Pzena Investment Management, LLC
Growth Managers:
Sustainable Growth Advisers, LP
TCW Investment Management Company
Top 20 Holdings at Month-End
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(28.9% of equity portfolio)
(Rank from previous month)
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1 Mondelez International, Inc., Class A (14) 2.1%
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2 Alphabet, Inc., Class C (1) 2.0%
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3 Visa, Inc., Class A (11) 1.9%
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4 Salesforce.com, Inc. (4) 1.6%
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5 Lowe's Cos., Inc. (34) 1.6%
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6 The Priceline Group, Inc. (27) 1.6%
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7 Halliburton Co. (6) 1.6%
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8 Cerner Corp. (90) 1.5%
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9 Facebook, Inc., Class A (3) 1.5%
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10 Equinix, Inc. (61) 1.5%
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11 Amazon.com, Inc. (2) 1.4%
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12 Chubb Ltd. (7) 1.4%
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13 CVS Health Corp. (9) 1.4%
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14 Intel Corp. (13) 1.2%
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15 Starbucks Corp. (29) 1.2%
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16 Bank of America Corp. (12) 1.1%
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17 Amgen, Inc. (113) 1.1%
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18 Adobe Systems, Inc. (19) 1.1%
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19 American Tower Corp. (20) 1.1%
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20 Archer-Daniels-Midland Co. (16) 1.0%
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Holdings are subject to change.
Monthly Performance
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Performance NAV Market Price Discount
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Beginning of month value $6.01 $5.05 16.0%
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Distributions - -
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End of month value $5.96 $5.02 15.8%
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Performance for month -0.83% -0.59%
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Performance year-to-date 1.36% -1.38%
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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 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. 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
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)
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Total $1,113.4
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Equities $1,076.4
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Percent Invested 96.7%
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Sector Breakdown (% of equity portfolio)*
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Information Technology 20.4%
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Financials 19.9%
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Health Care 15.8%
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Consumer Discretionary 12.4%
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Consumer Staples 10.8%
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Energy 9.5%
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Industrials 6.5%
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Materials 1.7%
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Telecommunication Services 1.5%
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Utilities 1.5%
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Total Market Value 100.0%
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*Based on Standard & Poor's and MSCI Barra Global
Industry Classification Standard (GICS).
New Holdings** Holdings Liquidated**
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None Baxalta, Inc.
General Electric Co.
** Transactions resulting from the
manager replacement of Cornerstone
Capital Management LLC with Sustainable
Growth Advisers, LP as one of the Fund's
five portfolio managers effective June 6,
2016 are excluded from the New Holdings
and Holdings Liquidated
Liberty All-Star Equity Fund
1-800-241-1850
