-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000810891-02-000001.txt : 20020414
<SEC-HEADER>0000810891-02-000001.hdr.sgml : 20020414
ACCESSION NUMBER:		0000810891-02-000001
CONFORMED SUBMISSION TYPE:	NSAR-B
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20011231
FILED AS OF DATE:		20020228

FILER:

	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:		NSAR-B
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-04809
		FILM NUMBER:		02562223

	BUSINESS ADDRESS:	
		STREET 1:		FEDERAL RESERVE PLZ
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02210
		BUSINESS PHONE:		6177226000
</SEC-HEADER>
<DOCUMENT>
<TYPE>NSAR-B
<SEQUENCE>1
<FILENAME>answer.fil
<TEXT>
<PAGE>      PAGE  1
000 B000000 12/31/2001
000 C000000 0000799195
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 LIBERTY ALL STAR EQUITY FUND
001 B000000 811-4809
001 C000000 6177226000
002 A000000 600 ATLANTIC AVENUE
002 B000000 BOSTON
002 C000000 MA
002 D010000 02210
003  000000 N
004  000000 N
005  000000 N
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008 A000001 LIBERTY ASSET MANAGEMENT CO
008 B000001 A
008 C000001 801-26296
008 D010001 BOSTON
008 D020001 MA
008 D030001 02210
008 D040001 2214
010 A000001 LIBERTY ASSET MANAGEMENT COMPANY
010 B000001 801-2019
010 C010001 BOSTON
010 C020001 MA
010 C030001 02110
012 A000001 EQUISERVE TRUST COMPANY
012 B000001 84-999
012 C010001 PROVIDENCE
012 C020001 RI
012 C030001 02940
012 C040001 3011
013 A000001 PRICEWATERHOUSECOOPERS LLP
<PAGE>      PAGE  2
013 B010001 BOSTON
013 B020001 MA
013 B030001 02110
014 A000001 LIBERTY SECURITIES CORP
014 B000001 8-30670
014 A000002 KEYPORT FINANCIAL SERVICES CORP
014 B000002 8-24435
015 A000001 STATE STREET BANK & TRUST
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02110
015 E010001 X
018  000000 Y
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020 A000001 MERRILL LYNCH, PIERCE, FENNER & SMITH
020 B000001 13-5674085
020 C000001    239
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020 B000002      -
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020 A000003 LYNCH JONES & RYAN
020 B000003 13-2563801
020 C000003    160
020 A000004 DONALDSON LUFKIN & JENRETTE
020 B000004 13-2741729
020 C000004    133
020 A000005 UBS WARBURG
020 B000005 13-3340045
020 C000005     99
020 A000006 BEAR STEARNS & CO.
020 B000006 13-4946705
020 C000006     91
020 A000007 FIRST BOSTON CORP.
020 B000007 13-5659485
020 C000007     79
020 A000008 INSTINET DIRECT
020 C000008     64
020 A000009 CIBC WORLD MARKETS
020 B000009 13-2798343
020 C000009     63
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022 A000002 UBS WARBURG
<PAGE>      PAGE  3
022 B000002 13-3340045
022 C000002   2348890
022 D000002         0
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022 B000003 13-4941247
022 C000003     97884
022 D000003         0
022 A000004 CITIBANK
022 B000004      -
022 C000004     96896
022 D000004         0
022 A000005 DONALDSON, LUFKIN & JENRETTE
022 B000005 13-2741729
022 C000005     43549
022 D000005      4798
022 A000006 HOUSEHOLD FINANCE CORP.
022 B000006      -
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022 D000006         0
022 A000007 BANC ONE
022 B000007      -
022 C000007     45443
022 D000007         0
022 A000008 MERRILL LYNCH, PIERCE, FENNER & SMITH
022 B000008 13-5674085
022 C000008     26786
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022 A000009 AMERICAN EXPRESS
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022 B000010 13-5108880
022 C000010     13026
022 D000010      9049
023 C000000    5413825
023 D000000      60432
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025 A000001 THE CHARLES SCHWAB CORP.
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025 C000001 E
025 D000001    6484
025 A000002 CITIGROUP, INC.
025 B000002     -
025 C000002 E
025 D000002   31386
025 A000003 MERRILL LYNCH & CO., INC.
025 B000003     -
025 C000003 E
025 D000003    4690
025 A000004 MORGAN STANLEY DEAN WITTER & CO.
<PAGE>      PAGE  4
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025 D000004    2797
025 A000005 PRUDENTIAL FINANCIAL, INC.
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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078  000000 N
080 A000000 ICI MUTUAL INSURANCE COMPANY
080 B000000 N/A
080 C000000    35000
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<PAGE>      PAGE  10
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087 A020000 530158104
087 A030000 USA
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SIGNATURE   DOUGLAS RODES
TITLE       VICE PRESIDENT


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>exh.txt
<TEXT>
Liberty All-Star Equity Fund

(a) On September 26, 2001, a Special Meeting of Shareholders of Liberty All-Star
Equity Fund (Fund) was held to approve the following items, as described in the
Proxy Statement for the Meeting. On July 16, 2001, the record date for the
Meeting, the Fund had 103,077,108.000 outstanding shares of beneficial interest.
The votes cast at the Meeting were as follows:

(b)   not applicable

(c)1 To approve a new Investment Advisory Agreement.

For:                94,393,883.325             shares of beneficial interest
                                               being a majority of the shares
                                               represented at the Meeting
Against:             1,787,502.285             shares of beneficial interest
Abstain:             1,739,889.672             shares of beneficial interest

(c)2. To approve a new Portfolio Management Agreement with Mastrapasqua &
Associates, Inc.

For:                       94,227,400.122      shares of beneficial interest
                                               being a majority of the shares
                                               represented at the Meeting
Against:                    1,801,599.180      shares of beneficial interest
Abstain:                    1,892,275.980      shares of beneficial interest

(c)3. To approve a new Portfolio Management Agreement with Oppenheimer Capital.

For:                      94,532,074.264        shares of beneficial interest
                                                being a majority of the shares
                                                represented at the Meeting
Against:                   1,612,867.026        shares of beneficial interest
Abstain:                   1,776,333.992        shares of beneficial interest

(c)4. To approve a new Portfolio Management Agreement with Boston Partners
Assets Management L.P.

For:                      94,310,3366.508       shares of beneficial interest
                                                being a majority of the shares
                                                represented at the Meeting
Against:                    1,698,865.496       shares of beneficial interest
Abstain:                    1,912,043.278       shares of beneficial interest

(c)5. To approve a new Portfolio Management Agreement with Westwood Management
Corporation.

For:                        94,224,801.755      shares of beneficial interest
                                                being a majority of the shares
                                                represented at the Meeting
Against:                      1,757,307.435     shares of beneficial interest
Abstain:                      1,939,166.092     shares of beneficial interest

(c)6. To approve a new Portfolio Management Agreement with TCW Investment
Management Company.

For:                         94,131,648.139     shares of beneficial interest
                                                being a majority of the shares
                                                represented at the Meeting
Against:                      1,903,587.876     shares of beneficial interest
Abstain:                      1,886,039.267     shares of beneficial interest

 (d) not applicable

(proxy statment incorporated herein by reference to Accession Number
0000950135-01-502259)

77L Changes in accounting principles and practices

Liberty All-Star Equiy Fund (Fund)

     The Fund has proposed to revoke its ss.171(c) election under the Internal
Revenue Code, thus changing its accounting method for premium amortization.

(Advisory and Portfolio Agreements incorporated herein by reference to
Accession Number 0000021847-02-000059)

77Q1 - Exhibits

                        Report of Independent Accountants


To the Board of Trustees and Shareholders of
Liberty All-Star Equity Fund

In planning and performing our audit of the financial statements of Liberty
All-Star Equity Fund (the "Fund") for the year ended December 31, 2001, we
considered its internal control, including control activities for safeguarding
securities, in order to determine our auditing procedures for the purpose of
expressing our opinion on the financial statements and to comply with the
requirements of Form N-SAR, and not to provide assurance on internal control.

The management of the Fund is responsible for establishing and maintaining
internal control. In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an audit pertain to the
entity's objective of preparing financial statements for external purposes that
are fairly presented in conformity with generally accepted accounting
principles. Those controls include the safeguarding of assets against
unauthorized acquisition, use or disposition.

Because of inherent limitations in internal control, errors or fraud may occur
and not be detected. Also, projection of any evaluation of internal control to
future periods is subject to the risk that it may become inadequate because of
changes in conditions or that the effectiveness of the design and operation may
deteriorate.

Our consideration of internal control would not necessarily disclose all matters
in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of one or more
of the internal control components does not reduce to a relatively low level the
risk that misstatements caused by error or fraud in amounts that would be
material in relation to the financial statements being audited may occur and not
be detected within a timely period by employees in the normal course of
performing their assigned functions. However, we noted no matters involving
internal control and its operation, including controls for safeguarding
securities, that we consider to be material weaknesses as defined above as of
December 31, 2001.

This report is intended solely for the information and use of the Board of
Trustees, management and the Securities and Exchange Commission and is not
intended to be and should not be used by anyone other than these specified
parties.



PricewaterhouseCoopers LLP
February 5, 2002



</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
