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Liberty All-Star Equity Fund: November 2024 Monthly Update

The Liberty All-Star Equity Fund (NYSE: USA) has released its monthly update for November 2024, shedding light on its performance and investment strategy. The fund, which focuses on large-cap equities, employs a blend of both value and growth investment managers, ensuring a diversified approach to achieve superior long-term results.

Investment Philosophy

The fund's investment strategy effectively combines insights from three value-focused and two growth-oriented management firms. Each manager is chosen based on their consistent investment philosophy, decision-making process, and historical performance, relative to peers within similar investment styles. The selected managers for the Liberty All-Star Equity Fund include:

1. Value Managers:
- Aristotle Capital Management, LLC
- Fiduciary Management, Inc.
- Pzena Investment Management, LLC

2. Growth Managers:
- Sustainable Growth Advisers, LP
- TCW Investment Management Company

Portfolio Holdings and Performance

As of the end of November 2024, the Liberty All-Star Equity Fund showcased a concentrated portfolio, with its top 20 holdings accounting for 34.5% of its equity investments. Key holdings included major tech companies and conglomerates, such as:

• - Microsoft Corp. (4.0%)
• - NVIDIA Corp. (3.7%)
• - Amazon.com, Inc. (2.7%)
• - Alphabet, Inc. (2.6%)
• - UnitedHealth Group, Inc. (2.3%)

Monthly Performance Analysis

For November, the fund reported a notable monthly increase. The net asset value (NAV) rose from $7.07 to $7.34, translating to a 6.38% monthly performance. Year-to-date, the fund has delivered an impressive 20.39% increase, while the market price appreciated by 26.68% during the same timeframe. Such performance underscores the effectiveness of the fund's management strategies amid a fluctuating market environment.

Sector Allocation

The fund's investments are diversified across various sectors, highlighting its balanced investment approach:

• - Information Technology: 22.5%
• - Financials: 21.3%
• - Health Care: 14.5%
• - Consumer Discretionary: 12.5%
• - Industrials: 9.2%
• - Communication Services: 7.1%
• - Consumer Staples: 4.6%
• - Materials: 4.4%
• - Energy: 1.8%
• - Utilities: 1.5%
• - Real Estate: 0.6%

This allocation reflects a strategic positioning in sectors poised for growth, particularly in technology and healthcare, which have shown resilience even in volatile market conditions.

Conclusion

The Liberty All-Star Equity Fund continues to demonstrate a robust performance trajectory, backed by its disciplined investment approach and a carefully curated portfolio. Investors can look forward to the fund's adaptability in evolving market scenarios, with management's expertise in navigating various economic landscapes. As always, potential investors should remain aware of the inherent risks associated with market fluctuations and investment performance.

For further details regarding the Liberty All-Star Equity Fund and its performance, interested parties can visit the official website.