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Fund Details

As of 11/20/2024
Ticker Symbols Market Price: ASG
Net Asset Value: XASGX
Fund Type Closed-end, Exchange-Traded
Fund Style All-Cap Growth
Expense Ratio 1.13%
Shares Outstanding 60,155,589
Inception Date March 14, 1986
Distribution Frequency Quarterly
Tax ID 52-1452208
CUSIP 529900102
NAV $6.14
Prior NAV $6.13
NAV Change 0.16%
YTD NAV Total Return 15.82%
Market Price $5.68
Market Price Change $0.02
Premium/(Discount) -7.49%
Fund Style

All-Cap Growth

Fund Strategy

Multi-managed fund that allocates its portfolio assets on an approximately equal basis among several independent investment organizations (currently three in number) having different investment styles and/or strategies recommended and monitored by ALPS Advisors, Inc., the Fund's investment advisor.

Fund Structure
Small-Cap Growth
  • Weatherbie Capital, LLC | H. George Dai, Ph. D. & Joshua Bennett, CFA
Mid-Cap Growth
  • Congress Asset Management Company, LLP | Todd Solomon, CFA
Large-Cap Growth
  • Westfield Capital Management Company, L.P. | William Muggia, Richard Lee, CFA & Ethan Meyers, CFA

Fund Overview

The Fund’s three growth investment managers and the market capitalization on which each focuses:

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Small-Cap Growth
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Small-Cap Growth

Weatherbie Capital, LLC

Seeks to invest in companies with enduring competitive advantages and high, sustainable earnings growth.

Mid-Cap Growth
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Mid-Cap Growth

Congress Asset Management Company, LLP

Seeks to invest in companies with improving fundamentals, emphasizing earnings growth consistency, free cash flow, and solid balance sheet metrics.

Large-Cap Growth
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Large-Cap Growth

Westfield Capital Management Company, L.P.

Seeks to invest in companies with underappreciated earnings growth trading at reasonable valuations, believing stock prices will ultimately follow earnings growth.

ALPS Advisors, Inc., the investment advisor to the Fund, has the ultimate authority (subject to oversight by the Board of Directors) to oversee the investment managers and recommend their hiring, termination and replacement.

Distribution Policy

The current policy is to pay distributions on its common shares totaling approximately 8 percent of its net asset value per year, payable in four quarterly installments of 2 percent of the Fund's net asset value at the close of the New York Stock Exchange on the Friday prior to each quarterly declaration date. The fixed distributions are not related to the amount of the Fund's net investment income or net realized capital gains or losses and may be taxed as ordinary income up to the amount of the Fund's current and accumulated earnings and profits. If, for any calendar year, the total distributions made under the distribution policy exceed the Fund's net investment income and net realized capital gains, the excess will generally be treated as a non-taxable return of capital, reducing the shareholder's adjusted basis in his or her shares. If the Fund's net investment income and net realized capital gains for any year exceed the amount distributed under the distribution policy, the Fund may, in its discretion, retain and not distribute net realized capital gains and pay income tax thereon to the extent of such excess.

Premium / (Discount) History

Holdings

Top 10 Holdings

As of 10/31/2024
% of net assets
NVIDIA Corp.3.9%
Apple Inc.3.0%
Microsoft Corp.2.8%
Amazon.com Inc.2.7%
Alphabet Inc.2.1%
Meta Platforms Inc.2.0%
Ollie's Bargain Outlet Holdings Inc.1.9%
FirstService Corp.1.9%
SPS Commerce Inc.1.9%
Natera Inc.1.8%
Click to view full holdings

Sector Breakdown

As of 10/31/2024
000.050.10.150.20.250.3
% of equity portfolio
Information Technology29.3%
Health Care17.4%
Industrials17.3%
Financials12.7%
Consumer Discretionary9.7%
Communication Services5.9%
Consumer Staples3.9%
Real Estate2.0%
Materials1.0%
Energy0.8%

Performance

Annualized as of 10/31/2024
YTD*1 Year3 Years5 Years10 Years15 Years20 Years
NAV Return 10.60%30.16%-4.45%10.50%11.31%13.02%9.77%
Market Price Return 12.36%30.89%-7.47%7.69%11.42%13.92%9.00%
Lipper Multi-Cap Growth Average 19.60%42.66%0.04%13.45%11.95%13.70%10.51%

*Cumulative Total Return
Returns for the Fund and the Lipper Average are total returns, which include dividends, after deducting fund expenses. The Fund's performance is calculated assuming that a shareholder reinvested all distributions and exercised all primary rights in the Fund's rights offerings.

Past performance cannot predict future results. Performance will fluctuate with changes in market conditions. Current performance may be lower or higher than the performance data shown. Performance information shown does not reflect the deduction of taxes that shareholders would pay on Fund distributions or the sale of Fund shares. An investment in the Fund involves risk, including loss of principal.

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