Banc of America Investment Advisors, the adviser to the Liberty All-Star Funds, has agreed to sell the portfolios to ALPS Advisers.

The portfolios are related closed-end equity funds - the Liberty All-Star Equity Fund, which had $1.2 billion of assets under management at June 30, and Liberty All-Star Growth Fund, which had $150 million under management then. The deal is expected to close by yearend; its price was not disclosed.

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