<SEC-DOCUMENT>0001298812-12-000001.txt : 20120207
<SEC-HEADER>0001298812-12-000001.hdr.sgml : 20120207
<ACCEPTANCE-DATETIME>20120207133249
ACCESSION NUMBER:		0001298812-12-000001
CONFORMED SUBMISSION TYPE:	5
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20111231
FILED AS OF DATE:		20120207
DATE AS OF CHANGE:		20120207

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Rantzow Richard Carl
		CENTRAL INDEX KEY:			0001298812

	FILING VALUES:
		FORM TYPE:		5
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-04809
		FILM NUMBER:		12576858

	MAIL ADDRESS:	
		STREET 1:		503 SILVER SPUR
		CITY:			HORSESHOE BAY
		STATE:			TX
		ZIP:			78657

ISSUER:		

	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

	BUSINESS ADDRESS:	
		STREET 1:		C/O ALPS FUND SERVICES, INC.
		STREET 2:		P.O. BOX 328
		CITY:			DENVER
		STATE:			CO
		ZIP:			80201-0328
		BUSINESS PHONE:		303.623.2577

	MAIL ADDRESS:	
		STREET 1:		C/O ALPS FUND SERVICES, INC.
		STREET 2:		P.O. BOX 328
		CITY:			DENVER
		STATE:			CO
		ZIP:			80201-0328
</SEC-HEADER>
<DOCUMENT>
<TYPE>5
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0304</schemaVersion>

    <documentType>5</documentType>

    <periodOfReport>2011-12-31</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <form3HoldingsReported>0</form3HoldingsReported>

    <form4TransactionsReported>0</form4TransactionsReported>

    <issuer>
        <issuerCik>0000799195</issuerCik>
        <issuerName>LIBERTY ALL STAR EQUITY FUND</issuerName>
        <issuerTradingSymbol>USA</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001298812</rptOwnerCik>
            <rptOwnerName>Rantzow Richard Carl</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>503 SILVER SPUR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>HORSESHOE BAY</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>78657</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <otherText>Trustee</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Shares of Beneficial Interest</value>
            </securityTitle>
            <transactionCoding>
                <transactionFormType></transactionFormType>
            </transactionCoding>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2955.7007</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Trust</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <ownerSignature>
        <signatureName>/s/ Richard Carl Rantzow</signatureName>
        <signatureDate>2012-02-07</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
