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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 HCVDas8JuahGWdmwg7FthpRPx3wyLV8+gb8TpE3+Rypz5jLHWXxIkQZVp2wyYeAw
 n48rbH7Uoa8UWI4DYsrIcQ==

<SEC-DOCUMENT>0000898432-06-000968.txt : 20061215
<SEC-HEADER>0000898432-06-000968.hdr.sgml : 20061215
<ACCEPTANCE-DATETIME>20061215180351
ACCESSION NUMBER:		0000898432-06-000968
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20061215
FILED AS OF DATE:		20061215
DATE AS OF CHANGE:		20061215

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:		FEDERAL RESERVE PLZ
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02210
		BUSINESS PHONE:		6177226000

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Vallan Barry S
		CENTRAL INDEX KEY:			0001353065

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-04809
		FILM NUMBER:		061281621

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		617 772-3743

	MAIL ADDRESS:	
		STREET 1:		C/O BANC OF AMERICA INVESTMENT ADVISORS
		STREET 2:		100 FEDERAL STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>vallan_form-4ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2006-12-15</periodOfReport>

    <notSubjectToSection16>1</notSubjectToSection16>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001353065</rptOwnerCik>
            <rptOwnerName>Vallan Barry S</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O BANK OF AMERICA INVESTMENT ADVISERS</rptOwnerStreet1>
            <rptOwnerStreet2>100 FEDERAL STREET</rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02110</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Controller</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <ownerSignature>
        <signatureName>/s/ Barry S. Vallan by his Attorney-in-Fact Clifford J. Alexander</signatureName>
        <signatureDate>2006-12-15</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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