Liberty All-Star Equity Fund (the Fund) is a diversified closed-end management investment company. The Fund seeks total investment return comprising long-term capital appreciation and current income, through investment of at least 80% of its net assets in a diversified portfolio of equity securities. Liberty All-Star Equity Fund invests in various sectors, including financials, information technology, healthcare, consumer discretionary, energy, consumer staples, industrials, utilities and materials. ALPS Fund Services, Inc. (ALPS) provides administrative and other services to the Fund. ALPS Advisers, Inc. (AAI) serves as the investment adviser to the Fund.