<PAGE> PAGE 1
000 B000000 12/31/97
000 C000000 0000786035
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 LIBERTY ALL-STAR GROWTH FUND
001 B000000 811-4537
001 C000000 6177226000
002 A000000 600 ATLANTIC AVENUE
002 B000000 BOSTON
002 C000000 MA
002 D010000 02210
002 D020000 2214
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 LIBERTY ASSET MANAGEMENT CO
008 B000001 A
008 C000001 801-26296
008 D010001 BOSTON
008 D020001 MA
008 D030001 02210
008 D040001 2214
008 A000002 MISSISSIPPI VALLEY ADVISORS
008 B000002 S
008 C000002 801-28897
008 D010002 ST. LOUIS
008 D020002 MO
008 D030002 61366
008 A000003 OPPENHEIMER CAPITAL CORP.
008 B000003 S
008 C000003 801-10708
008 D010003 NEW YORK
008 D020003 NY
<PAGE> PAGE 2
008 D030003 10281
008 A000004 PROVIDENT INVESTMENT COUNSEL, INC.
008 B000004 S
008 C000004 801-8811
008 D010004 PASADENA
008 D020004 CA
008 D030004 91101
008 A000005 WILLIAM BLAIRE & CO., INC.
008 B000005 S
008 C000005 801-688
008 D010005 CHICAGO
008 D020005 IL
008 D030005 60606
010 A000001 COLONIAL MANAGEMENT ASSOCIATES, INC
010 B000001 801-2019
010 C010001 BOSTON
010 C020001 MA
010 C030001 02111
010 C040001 2214
010 A000002 LIBERTY ASSET MANAGEMENT CO.
010 B000002 801-26296
010 C010002 BOSTON
010 C020002 MA
010 C030002 02111
012 A000001 STATE STREET BANK AND TRUST CO
012 B000001 84-1867445
012 C010001 BOSTON
012 C020001 MA
012 C030001 02105
013 A000001 KPMG PEAT MARWICK LLP
013 B010001 BOSTON
013 B020001 MA
013 B030001 02108
014 A000001 LIBERTY SECURITIES CORP
014 B000001 8-30670
014 A000002 KEYPORT FINANCIAL SERVICES CORP
014 B000002 8-24435
014 A000003 COLONIAL INVESTMENT SERVICES, INC.
014 B000003 8-44998
014 A000004 OPPENHEIMER & CO., INC.
014 B000004 8-18333
014 A000005 OPPENHEIMER GOVERNMENT SECURITIES, INC.
014 B000005 8-38045
014 A000006 MERCANTILE INVESTMENT SERVICES, INC.
014 B000006 8-37913
014 A000007 INDEPENDENT FINANCIAL SECURITIES, INC.
014 B000007 8-00000
014 A000008 RFI DISTRIBUTORS, INC.
014 B000008 8--41126
014 A000009 WILLIAM BLAIRE & CO. LLC
014 B000009 8-2698
<PAGE> PAGE 3
015 A000001 BOSTON SAFE DEPOSIT AND TRUST COMPANY
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02108
015 E010001 X
018 000000 Y
019 A000000 N
019 B000000 0
020 A000001 MERRILL LYNCH/CITATION
020 B000001 13-5674085
020 C000001 90
020 A000002 SMITH BARNEY SHEARSON
020 B000002 13-1912900
020 C000002 4
020 A000003 PAINE WEBBER
020 B000003 13-2638166
020 C000003 3
020 A000004 DEUTSCHE - MORGAN GRENFELL
020 C000004 3
020 A000005 DONALDSON, LUFKIN & JENRETTE
020 B000005 13-2741729
020 C000005 3
020 A000006 SANFORD C. BERNSTEIN & CO.
020 B000006 13-2625874
020 C000006 2
020 A000007 SCHRODER WERTHEIM
020 C000007 2
020 A000008 KEEFE BRUYETTE & WOODS
020 B000008 23-1944376
020 C000008 2
020 A000009 BEAR STEARNS
020 B000009 13-4946705
020 C000009 2
020 A000010 LEHMAN BROTHERS
020 B000010 13-2518466
020 C000010 2
021 000000 134
022 A000001 LEHMAN BROTHERS
022 B000001 13-2518466
022 C000001 803121
022 D000001 1387
022 A000002 BANKERS TRUST CO.
022 B000002 13-4941247
022 C000002 161544
022 D000002 0
022 A000003 GREENWICH CAPITAL MARKETS
022 B000003 13-3172275
022 C000003 146161
022 D000003 0
022 A000004 ABN AMRO
<PAGE> PAGE 4
022 B000004 13-3227945
022 C000004 60868
022 D000004 0
022 A000005 CHASE SECURITIES
022 C000005 57609
022 D000005 0
022 A000006 GOLDMAN SACHS & CO.
022 B000006 13-5108880
022 C000006 3453
022 D000006 4741
022 A000007 PAINE WEBBER INC.
022 B000007 13-2638166
022 C000007 18149
022 D000007 1237
022 A000008 MORGAN STANLEY & CO.
022 B000008 13-2655998
022 C000008 779
022 D000008 1308
022 A000009 CANTOR FITZGERALD & CO.
022 B000009 95-1786286
022 C000009 894
022 D000009 1665
022 A000010 DONALDSON, LUFKIN & JENRETTE
022 B000010 13-2741729
022 C000010 3375
022 D000010 1218
023 C000000 1294220
023 D000000 25794
024 000000 Y
025 A000001 MORGAN STANLEY, DEAN WITTER, DISCOVER & CO.
025 B000001 13-2655998
025 C000001 E
025 D000001 2439
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<PAGE> PAGE 5
028 A020000 0
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
070 J020000 N
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<PAGE> PAGE 9
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<PAGE> PAGE 10
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 N
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078 000000 N
080 A000000 ICI MUTUAL INSURANCE COMPANY
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SIGNATURE GAIL KNUDSEN
TITLE ASSISTANT CONTROLLER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FINANCIAL
STATEMENTS OF LIBERTY ALL-STAR EQUITY FUND YEAR END DEC-31-1997 AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS OF LIBERTY ALL-STAR
GROWTH FUND YEAR END DEC-31-1997.
</LEGEND>
<CIK> 0000786035
<NAME> LIBERTY ALL STAR GROWTH FUND, INC
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 122555
<INVESTMENTS-AT-VALUE> 167769
<RECEIVABLES> 1140
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 1
<TOTAL-ASSETS> 168910
<PAYABLE-FOR-SECURITIES> 79
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2094
<TOTAL-LIABILITIES> 2173
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 122876
<SHARES-COMMON-STOCK> 12938
<SHARES-COMMON-PRIOR> 12119
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1647
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 42214
<NET-ASSETS> 166737
<DIVIDEND-INCOME> 1266
<INTEREST-INCOME> 293
<OTHER-INCOME> 0
<EXPENSES-NET> 1832
<NET-INVESTMENT-INCOME> (273)
<REALIZED-GAINS-CURRENT> 16539
<APPREC-INCREASE-CURRENT> 19867
<NET-CHANGE-FROM-OPS> 36134
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 35
<DISTRIBUTIONS-OF-GAINS> 15386
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 819
<NET-CHANGE-IN-ASSETS> 30100
<ACCUMULATED-NII-PRIOR> 35
<ACCUMULATED-GAINS-PRIOR> 765
<OVERDISTRIB-NII-PRIOR> 0
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<GROSS-EXPENSE> 1832
<AVERAGE-NET-ASSETS> 153066
<PER-SHARE-NAV-BEGIN> 11.270
<PER-SHARE-NII> (0.020)
<PER-SHARE-GAIN-APPREC> 2.880
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (1.240)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.890
<EXPENSE-RATIO> 1.20
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
