POWER OF ATTORNEY
                         For Executing Forms 3, 4 and 5

         KNOW ALL BY THESE PRESENTS, that the undersigned hereby constitutes and
appoints each of Clifford J. Alexander,  Kathy Kresch Ingber, David A. Rozenson,
Ryan C.  Larrenaga,  Tim L. Curtin,  Laurie  Russell and  Michelle  Rhee signing
singly, his/her true and lawful attorney-in-fact to:

(1)      execute for and on behalf of the  undersigned  Forms 3, 4 and/or 5, and
         amendments  thereto in accordance  with Section 16(a) of the Securities
         Exchange Act of 1934, as amended, and the rules thereunder;

(2)      do and  perform  any and all acts for and on behalf of the  undersigned
         that may be necessary  or  desirable  to complete the  execution of any
         such Form 3, 4 or 5, or amendment thereto,  and the filing of such form
         with the United States Securities and Exchange Commission and any other
         stock exchange or similar authority, including preparing, executing and
         filing Form ID with the Securities and Exchange Commission; and

(3)      take any other action of any type  whatsoever  in  connection  with the
         foregoing  that,  in the  opinion of such  attorney-in-fact,  may be of
         benefit  to, in the best  interest  of, or  legally  required  by,  the
         undersigned,  it being  understood that the documents  executed by such
         attorney-in-fact on behalf of the undersigned pursuant to this Power of
         Attorney  shall be in such  form  and  shall  contain  such  terms  and
         conditions as such attorney-in-fact may approve in his/her discretion.

         The undersigned hereby grants to each such  attorney-in-fact full power
and  authority  to do and  perform  all  and  every  act  and  thing  whatsoever
requisite,  necessary and proper to be done in the exercise of any of the rights
and  powers  herein  granted,  as  fully  to all  intents  and  purposes  as the
undersigned  might  or  could  do if  personally  present,  with  full  power of
substitution  or  revocation,  hereby  ratifying  and  confirming  all that such
attorney-in-fact,  or his/her  substitute or  substitutes,  shall lawfully do or
cause to be done by virtue of this power of  attorney  and the rights and powers
herein   granted.    The   undersigned    acknowledges    that   the   foregoing
attorneys-in-fact,   in  serving  in  such   capacity  at  the  request  of  the
undersigned,  are not  assuming  any of the  undersigned's  responsibilities  to
comply with Section 16 of the Securities Exchange Act of 1934, as amended.

         The undersigned acknowledges that this Power of Attorney applies to the
filing of Forms 3, 4 or 5 with  respect  to the  undersigned's  holdings  of and
transactions in the following funds:

                                                     
Liberty All-Star Equity Fund                            Liberty All-Star Growth Fund, Inc.
Columbia Multi-Strategy Hedge Fund, LLC                 Colonial High Income Municipal Trust
Colonial Investment Grade Municipal Trust               Colonial Intermediate High Income Fund
Colonial Intermarket Income Trust I                     Colonial California Insurance Municipal Fund
Colonial Insured Municipal Fund                         Colonial Municipal Income Trust
BACAP Alternative Multi-Strategy Fund, LLC







         This  power-of-attorney  shall expire when the undersigned ceases to be
required to file a Form 3, 4 or 5 with the United States Securities and Exchange
Commission or any other authority.

         IN WITNESS  WHEREOF,  the undersigned has caused this Power of Attorney
to be executed as of this 7th day of February, 2006.


                                           /s/ James R. Bordewick, Jr.
                                           ---------------------------
                                           James R. Bordewick, Jr.














                                     - 2 -