<SEC-DOCUMENT>0001398344-15-007027.txt : 20151026
<SEC-HEADER>0001398344-15-007027.hdr.sgml : 20151026
<ACCEPTANCE-DATETIME>20151026121516
ACCESSION NUMBER:		0001398344-15-007027
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20151026
DATE AS OF CHANGE:		20151026
EFFECTIVENESS DATE:		20151026

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:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-04809
		FILM NUMBER:		151174562

	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>DEFA14A
<SEQUENCE>1
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; LINE-HEIGHT: 1.15">UNITED STATES</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; LINE-HEIGHT: 1.15">SECRUITIES AND EXCHANGE COMMISSION</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; LINE-HEIGHT: 1.15">Washington, D.C. 20549</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 1.15">SCHEDULE 14A</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; LINE-HEIGHT: 1.15">Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; LINE-HEIGHT: 1.15">(Amendment No.___)</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 1.15">Filed by Registrant [X]</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 1.15">Filed by a Party other than the Registrant [&#160; ]</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 1.15">Check the appropriate box:</div>

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<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">[&#160;&#160; ]</td>
<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Preliminary Proxy Statement</td>
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<table id="38fce04b214e4f16a4d9b9e8376c0d1a" class="DSPFListTable" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">[&#160;&#160; ]</td>
<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Confidential, for Use of the Commission Only (as permitted by Rule14a-6(e)(2))</td>
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<table id="4addf3fe27154df59d720e1c626d173d" class="DSPFListTable" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">[&#160;&#160; ]</td>
<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Definitive Proxy Statement</td>
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<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">[X]</td>
<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Definitive Additional Materials</td>
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<table id="9ce306f6b69848b5a185f0e45a136877" class="DSPFListTable" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">[&#160;&#160; ]</td>
<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Soliciting Material Pursuant to Sec. 240.14a-12</td>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 1.15">&#160;</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; LINE-HEIGHT: 1.15">LIBERTY ALL-STAR EQUITY FUND

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; LINE-HEIGHT: 1.15">(name of Registrant as Specified in its Charter)</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; LINE-HEIGHT: 1.15">ALPS FUND SERVICES, INC.</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; LINE-HEIGHT: 1.15">1290 Broadway, Suite 1100</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; LINE-HEIGHT: 1.15">Denver, Colorado 80203

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; LINE-HEIGHT: 1.15">(Name of Person(s) Filing Proxy Statement, if other than the Registrant)</div>

<div style="LINE-HEIGHT: 1.15">&#160;</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 1.15">Payment of Filing Fee (Check the appropriate box):</div>

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<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">[X]</td>
<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">No fee required</td>
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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.15">
<table id="7dd3b39a19d746e290da65aae7805583" class="DSPFListTable" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">[&#160;&#160; ]</td>
<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Fee computed on table below per Exchange Act Rules&#160; 14a-6(i)(1) and 0-11.</td>
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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.15">&#160;</div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.15">
<table id="35a2a75b852248b59feca87ebbfb1374" class="DSPFListTable" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">1)</td>
<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Title of each class of securities to which transaction applies:</td>
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<table id="47f7491c0f794d4fbfd292182e2c2de8" class="DSPFListTable" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">2)</td>
<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Aggregate number of securities to which transaction applies:</td>
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<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">3)</td>
<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11(set forth the amount on which the filing fee is calculated and state how it was determined):</td>
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<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">4)</td>
<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Proposed maximum aggregate value of transaction:</td>
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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.15">
<table id="a1e29d9e4c3749f9986a86423dcdc9f8" class="DSPFListTable" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">5)</td>
<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Total fee paid:</td>
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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.15">&#160;</div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.15">
<table id="90f2f91bde87419ea0a8e6d0b453e1c1" class="DSPFListTable" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">[&#160;&#160; ]</td>
<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Fee paid previously with preliminary materials.</td>
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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.15">&#160;</div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.15">
<table id="d241cf57c98e41e089b30dfde69f837d" class="DSPFListTable" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">[&#160;&#160; ]</td>
<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Check box if any part of the fee is offset as provided by Exchange&#160; Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously.&#160; Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.</td>
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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.15">&#160;</div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.15">
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<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">1)</td>
<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Amount Previously Paid:</td>
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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.15">
<table id="8bfd86beb1bf4f08ada2cebcbe5c5751" class="DSPFListTable" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">2)</td>
<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Form, Schedule or Registration Statement No.:</td>
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<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">3)</td>
<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">Filing Party:</td>
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<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">4)</td>
<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">Date Filed:</td>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 1.15">LIBERTY ALL-STAR&#174; EQUITY FUND</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; LINE-HEIGHT: 1.15">IMPORTANT INFORMATION FOR SHAREHOLDERS</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">Dear Shareholder:</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">&#160;</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">We recently mailed proxy materials to you for the upcoming Special Meeting of Shareholders that is scheduled for November 19, 2015. The materials describe the proposal and ask for your vote on this important matter.</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">&#160;</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">Shareholders of the Fund are being asked to vote on a proposal to approve a new Portfolio Management Agreement among the Fund, ALPS Advisors, Inc. and Delaware Investments Fund Advisers, a series of Delaware Business Management Trust (&#8220;Delaware&#160; Investments&#8221;).&#160; The terms of the New Agreement with Delaware Investments are materially the same as the terms of the Old Agreement with Schneider Capital Management, Inc. (&#8220;Schneider&#8221;).&#160; The fee rate for Delaware Investments under the New Agreement is the same as the fee rate for Schneider under the Old Agreement.&#160; For more information about the proposal, please refer to the proxy statement which is available at <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-VARIANT: normal; FONT-WEIGHT: normal; FONT-STYLE: normal"><u>www.all-starfunds.com</u></font>.</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">&#160;</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; LINE-HEIGHT: 1.15"><u>Our records indicate that we have not received your vote.&#160; Please vote as soon as possible so your fund can avoid additional costs associated with soliciting your vote either by mail or telephone solicitation.</u></div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">&#160;</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 1.15"><u>The Board of Trustees recommends that you vote FOR the Proposal.</u></div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 1.15">&#160;</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">Voting is quick and easy.&#160; Please vote now using one of these methods:</div>

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<div><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">1. </font><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Vote By Internet</font></div>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">Please visit the website noted on the enclosed proxy voting card and follow the online instructions.</div>
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<div><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">2. </font><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Vote by Mail</font></div>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">Please mail your<font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold"> signed</font> proxy voting card(s) in the postage-paid envelope.</div>
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<div><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">3. </font><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Vote by Touch-Tone Phone</font></div>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">Please call the toll-free number printed on the enclosed proxy voting card and follow the recorded instructions. The service is available 7&#160;days a week, 24 hours a day.</div>
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<div><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">4. </font><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Speak With a Proxy Specialist</font></div>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">Please call 1-844-292-8014 to speak with a Proxy Specialist. Specialists are available Monday through Friday, 9:00 a.m. to 6:00 p.m. Eastern Time, and Saturday from 10:00 a.m. to 6:00 p.m. Eastern Time.</div>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">Your vote is very important and it&#8217;s easy to vote.&#160; We hope you will take a few minutes to vote your shares.</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">As always, thank you for investing with Liberty All-Star Equity Fund.</div>
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