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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000950159-02-000140.txt : 20020415
<SEC-HEADER>0000950159-02-000140.hdr.sgml : 20020415
ACCESSION NUMBER:		0000950159-02-000140
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20020301
FILED AS OF DATE:		20020306

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LIBERTY ALL STAR EQUITY FUND
		CENTRAL INDEX KEY:			0000799195
		IRS NUMBER:				042935840
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-04809
		FILM NUMBER:		02567963

	BUSINESS ADDRESS:	
		STREET 1:		FEDERAL RESERVE PLZ
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02210
		BUSINESS PHONE:		6177226000
<REPORTING-OWNER>

COMPANY DATA:	
	COMPANY CONFORMED NAME:			SCHNEIDER CAPITAL MANAGEMENT LP
	CENTRAL INDEX KEY:			0001037584
<RELATIONSHIP>OTHER
	IRS NUMBER:				232856392
	STATE OF INCORPORATION:			PA

FILING VALUES:
	FORM TYPE:		3

BUSINESS ADDRESS:	
	STREET 1:		460 EAST SWEDESFORD ROAD
	STREET 2:		SUITE 1080
	CITY:			WAYNE
	STATE:			PA
	ZIP:			19087
	BUSINESS PHONE:		2156878080

MAIL ADDRESS:	
	STREET 1:		460 EAST SWEDESFORD RD
	STREET 2:		SUITE 1080
	CITY:			WAYNE
	STATE:			PA
	ZIP:			19087
</REPORTING-OWNER>
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>schneidercap3.txt
<TEXT>


                     U.S. SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                     FORM 3

            INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

    Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
       Section 17(a) of the Public Utility Holding Company Act of 1935 or
               Section 30(f) of the Investment Company Act of 1940

________________________________________________________________________________
1.   Name and Address of Reporting Person*

                          Schneider Capital Management
- --------------------------------------------------------------------------------
   (Last)                      (First)              (Middle)

                     460 East Swedesford Road - Suite 1080
- --------------------------------------------------------------------------------
                                    (Street)

   Wayne                              PA                    19087
- --------------------------------------------------------------------------------
   (City)                            (State)                (Zip)

________________________________________________________________________________
2.   Date of Event Requiring Statement (Month/Day/Year)

        March 1, 2002
________________________________________________________________________________
3.   IRS Identification Number of Reporting Person, if an Entity (Voluntary)


________________________________________________________________________________
4.   Issuer Name and Ticker or Trading Symbol

        Liberty All-Star Equity Fund
        Ticker Symbol - USA
________________________________________________________________________________
5.   Relationship of Reporting Person to Issuer
     (Check all applicable)

     [_]  Director                             [_]  10% Owner
     [_]  Officer (give title below)           [X]  Other (specify below)

     Investment Adviser to Issuer
________________________________________________________________________________
6.   If Amendment, Date of Original (Month/Day/Year)

     N/A
________________________________________________________________________________
7.   Individual or Joint/Group Filing  (Check applicable line)

     [X]  Form Filed by One Reporting Person

     [_]  Form Filed by More than One Reporting Person

================================================================================
             Table I -- Non-Derivative Securities Beneficially Owned
================================================================================
<TABLE>
<CAPTION>
                                                                 3. Ownership Form:
                                      2. Amount of Securities       Direct (D) or
1. Title of Security                     Beneficially Owned         Indirect (I)       4. Nature of Indirect Beneficial Ownership
   (Instr. 4)                            (Instr. 4)                 (Instr. 5)            (Instr. 4)
- ------------------------------------------------------------------------------------------------------------------------------------
   <S>                                   <C>                         <C>                  <C>

   Common Stock                         None                         N/A                  N/A
- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

====================================================================================================================================
</TABLE>

*    If the Form is filed by more than one  Reporting  Person,  see  Instruction
     5(b)(v).

Reminder: Report on a separate line for each class of securities beneficially
          owned directly or indirectly.

                            (Print of Type Responses)

                                                                          (Over)

<PAGE>


FORM 3 (continued)

              Table II -- Derivative Securities Beneficially Owned
         (e.g., puts, calls, warrants, options, convertible securities)

================================================================================
<TABLE>
<CAPTION>
                                                                                                        5. Owner-
                                                    3. Title and Amount of Securities                      ship
                                                       Underlying Derivative Security                      Form of
                         2. Date Exercisable           (Instr. 4)                                          Derivative
                            and Expiration Date     ---------------------------------    4. Conver-        Security:
                            (Month/Day/Year)                               Amount           sion or        Direct      6. Nature of
                         ----------------------                            or               Exercise       (D) or         Indirect
                         Date       Expira-                                Number           Price of       Indirect       Beneficial
1. Title of Derivative   Exer-      tion                                   of               Derivative     (I)            Ownership
   Security (Instr. 4)   cisable    Date            Title                  Shares           Security       (Instr. 5)     (Instr. 5)
- ------------------------------------------------------------------------------------------------------------------------------------
<S>                      <C>        <C>             <C>                    <C>           <C>            <C>            <C>

        N/A               N/A                           N/A                                  N/A           N/A              N/A
- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

====================================================================================================================================
</TABLE>
Explanation of Responses:




 /s/ Gary P. Soura, Jr.                                       March 4, 2002
- ---------------------------------------------            -----------------------
      **Signature of Reporting Person                             Date

Gary P. Soura, Jr.
Senior Vice President

**   Intentional misstatements or omissions of facts constitute Federal Criminal
     Violations.

     See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note:  File three copies of this Form, one of which must be manually signed.
       If space provided is insufficient, see Instruction 6 for procedure.

                            (Print of Type Responses)

                                                                          Page 2



</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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