Liberty All-Star Growth Fund (ASG) Stock

The Liberty All-Star Growth Fund offers diversified exposure to small, medium, and large-cap growth stocks, with a strong focus on tech and healthcare sectors. ASG provides an attractive 8.5% yield, with quarterly distributions tied to its NAV, and a five-year average dividend growth rate of 6.78%. Despite recent performance challenges, ASG is rated a speculative Buy due to its 7.3% discount to NAV and potential for mean reversion.

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ASG Vs. USA: Equity Funds Paying Higher Distributions Through Managed Plans

Closed-end funds (CEFs) are my No. 1 income plays for a reason that goes beyond their huge dividends: We can tap these off-the-radar (for now!

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Liberty All-Star Growth is a closed-end fund that invests in the equities of growth-oriented stocks. The ASG CEF uses zero leverage, which can be beneficial in a down market and high-interest environment. While ASG's performance is decent, it lags its sister fund, Liberty All-Star Equity, which has a different focus.

The Liberty All-Star Growth Fund offers investors a high level of income while still providing exposure to equity securities. The fund has delivered a respectable performance, with a 6.40% total return over three months, although it underperformed the S&P 500 Index. The fund's distribution policy and focus on capital gains rather than dividend income may not appeal to all investors, but it has a solid track record of outperforming the S&P 500 Index over the long term.

The multi-cap Liberty All-Star Growth Fund is positioned to do well if a soft landing broadens stock performance beyond the Magnificent 7. ASG trades at over a 6% discount to NAV, which provides a tailwind if it goes to a premium as it has in other cycles. The more active management and better discount make ASG a better pick than its bigger brother USA.

The Liberty All-Star Growth Fund focuses on long-term capital growth and has an 8.02% current yield. The fund's share price has declined by 43.23% since June 2021, underperforming the S&P 500 Index. The fund offers exposure to small-cap stocks, providing diversification for investors seeking a variety of company sizes.