LIBERTY ALL STAR EQUITY FUND

Liberty All-Star Equity Fund is a closed-ended equity mutual fund that invests in the public equity markets of the United States. The fund was launched and is managed by ALPS Advisers, Inc. Co-managers include Aristotle Capital Management, LLC, Pzena Investment Management, LLC, Delaware Investments Fund Advisers, Sustainable Growth Advisers, LP, and TCW Investment Management Company. The fund seeks to invest in stocks of companies operating across diversified sectors, primarily focusing on value and growth stocks of large-cap companies. Its performance is benchmarked against the Lipper Large-Cap Core Mutual Fund Average, the Dow Jones Industrial Average, the NASDAQ Composite Index, and the S&P 500 Index. Liberty All-Star Equity Fund was formed on October 31, 1986, and is domiciled in the United States.