A closed-end fund is a pool of money collected from many investors to buy a diversified mix of stocks, bonds, or other assets, and it is managed by professionals. Unlike some investment options, its shares are bought and sold on stock exchanges at prices determined by supply and demand, which can be above or below the fund's actual value. This structure allows investors to buy or sell shares easily, but the value may fluctuate based on market conditions.
secondary marketfinancial
The secondary market is where investors buy and sell financial assets, such as stocks or bonds, after they have been initially issued. It functions like a marketplace where ownership changes hands, allowing investors to cash out or acquire investments more easily. This market provides liquidity, making it easier for people to turn their investments into cash or find new opportunities.
net assetsfinancial
Net assets represent the total value of what an organization owns minus what it owes. Think of it like a person’s belongings after paying off any debts—what remains is their net worth. For investors, net assets indicate the overall financial strength of a company or fund, showing how much value is available to shareholders.
FINRAregulatory
FINRA is the U.S. self‑regulatory organization that oversees brokerage firms and individual brokers, setting and enforcing rules to protect investors and keep markets orderly. Think of it as a referee and rulebook keeper for the broker industry: it licenses brokers, monitors their behavior, enforces standards, and runs complaint and arbitration systems, so investors can check records and have a path to resolve disputes.
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BOSTON--(BUSINESS WIRE)--
The Board of Trustees of Liberty All-Star Equity Fund (NYSE: USA) has appointed Loomis, Sayles & Company, L.P. (“Loomis Sayles”) as one of the Fund’s five investment managers effective June 15, 2026 replacing Sustainable Growth Advisers, LP.
The investment team at Loomis Sayles, led by Aziz Hamzaogullari, CFA, practices a large capitalization growth investment style which seeks to invest in high-quality businesses with sustainable competitive advantages and profitable growth when they trade at a significant discount to intrinsic value. Liberty All-Star Equity Fund’s other managers are Aristotle Capital Management, LLC, Fiduciary Management, Inc., Pzena Investment Management, LLC 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 $2.0 billion in net assets as of June 11, 2026.
Past performance cannot predict future results.
An investment in the Fund involves risk, including loss of principal.
Secondary market support provided to the Fund by ALPS Fund Services, Inc.’s affiliate ALPS Portfolio Solutions Distributor, Inc., a FINRA Member.
ALPS Fund Services, Inc., ALPS Advisors, Inc. and ALPS Portfolio Solutions Distributor, Inc. are affiliated entities.
