Liberty All-Star® Equity Fund Announces New Portfolio Manager

BOSTON, June 5, 2020 /PRNewswire/ -- The Board of Trustees of Liberty All-Star Equity Fund USA has appointed Fiduciary Management, Inc. ("Fiduciary") as one of the Fund's five investment managers effective June 15, 2020 replacing Macquarie Investment Management.

The investment team at Fiduciary, led by Patrick English, CFA, and Jonathan Bloom, CFA, practices a large capitalization value investment style which will be used to manage their portion of the Fund's assets.  Liberty All-Star Equity Fund's other managers are Aristotle Capital Management, LLC, Pzena Investment Management, LLC, Sustainable Growth Advisers, LP and TCW Investment Management Company.

The Fund does not continuously issue shares and trades in the secondary market, investors wishing to buy or sell shares need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market's value. The Fund's shares are listed on the New York Stock Exchange under the symbol USA. ALPS Advisors, Inc. is the investment advisor of the Fund, a multi-managed, closed-end investment company with more than $1.3 billion in net assets as of June 4, 2020.

Past performance cannot predict future results.
An investment in the Fund involves risk, including loss of principal.
ALPS Portfolio Solutions Distributor, Inc. – FINRA Member Firm

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

SOURCE Liberty All-Star Funds