Edmund Burke
About Edmund J. Burke
Independent director of Liberty All-Star Growth Fund, Inc. (ASG) since 2006; year of birth 1961. Current roles include partner at ETF Action (since 2020) and director of Alliance Bioenergy Plus, Inc. (since 2020). Formerly President/Director across ALPS Holdings, ALPS Advisors, ALPS Distributors, ALPS Fund Services, and ALPS Portfolio Solutions Distributor; retired from ALPS in June 2019. The Boards state all Trustees/Directors are independent under NYSE standards and the 1940 Act; Chairman of the Boards is independent (Thomas W. Brock) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| ALPS Holdings, Inc.; ALPS Advisors, Inc. | President and Director | Joined 1991; retired June 2019 | Senior leadership across ALPS Companies supporting investment funds |
| ALPS Distributors, Inc.; ALPS Fund Services, Inc.; ALPS Portfolio Solutions Distributor, Inc. | Director | To June 2019 | Oversight of distribution and fund services operations |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| ETF Action | Partner | Since 2020 | Web-based data/analytics for RIAs |
| Alliance Bioenergy Plus, Inc. | Director | Since 2020 | Renewable energy/biofuels/bioplastics technologies |
| ALPS ETF Trust | Trustee | Since 2017 | Other directorships in fund complex |
| Financial Investors Trust | Trustee | Since 2009 | Other directorships in fund complex |
| Clough Global Dividend & Income Fund | Trustee | Since 2004 | Other directorships in fund complex |
| Clough Global Equity Fund | Trustee | Since 2006 | Other directorships in fund complex |
| Clough Global Opportunities Fund | Trustee | Since 2006 | Other directorships in fund complex |
Board Governance
- Independence: All Board members are independent; Brock serves as independent Chairman .
- Committees:
- Audit Committee member; committee chaired by Maureen K. Usifer; all members financially literate; Usifer designated “audit committee financial expert” .
- Nominating & Governance Committee member; committee chaired by John J. Neuhauser; reviewed/approved Charter Dec 5, 2024; met twice in FY2024 .
- Attendance and engagement:
- FY2024 meetings: ASG Board held four; Audit Committees held four; Burke attended all (one absence noted only for Mr. Brock in Aug 2024) .
- FY2023 meetings: Boards and Audit Committees held four each; all Trustees/Directors present at all meetings .
- Annual shareholder meetings: Funds have no formal policy; none of the Trustees/Directors attended 2024 annual meetings .
- Executive sessions: Independent Trustees/Directors hold at least one in-person meeting annually without management .
Fixed Compensation
| Fiscal Year | Equity Fund (Cash) | Growth Fund (Cash) | Total Compensation from Fund Complex (Cash) |
|---|---|---|---|
| 2023 | $60,359 | $22,641 | $435,000 |
| 2024 | $68,208 | $24,792 | $446,000 |
Neither Fund has a bonus, profit sharing or retirement plan for Trustees/Directors .
Performance Compensation
- No director performance-linked plans disclosed; Funds explicitly state no bonus, profit-sharing, or retirement plan for Trustees/Directors .
Other Directorships & Interlocks
| Area | Details |
|---|---|
| Current public company/fund boards | ALPS ETF Trust (Trustee), Financial Investors Trust (Trustee), Clough Global Dividend & Income Fund (Trustee), Clough Global Equity Fund (Trustee), Clough Global Opportunities Fund (Trustee) |
| Prior affiliations with service providers | Former senior executive across ALPS (funds’ investment adviser and affiliates); retired June 2019. Boards state all current Trustees/Directors are independent under NYSE standards and the 1940 Act . |
Expertise & Qualifications
- Extensive management and operational experience in investment management; prior CEO/President of AAI’s parent; leadership across fund complexes; multi‑year Trustee/Director service for Equity and Growth Funds .
- Financial literacy affirmed by Board for Audit Committee members; Audit Committee financial expert designated (Usifer) .
Equity Ownership
| Metric | 2023 | 2024 |
|---|---|---|
| Equity Fund shares owned (#) | 2,500 | 6,500 |
| Growth Fund shares owned (#) | 2,800 | 6,300 |
| Dollar range – Equity Fund | $10,001–$50,000 | $10,001–$50,000 |
| Dollar range – Growth Fund | $10,001–$50,000 | $10,001–$50,000 |
| Aggregate dollar range across both funds | $10,001–$50,000 | $50,001–$100,000 |
- Ownership concentration: Each Trustee/Director and all Trustees/Directors as a group owned less than 1% of outstanding shares of each Fund as of Dec 31, 2024 and Dec 31, 2023 .
Insider Trades and Compliance
| Metric | FY2023 | FY2024 |
|---|---|---|
| Section 16(a)/30(h) compliance (Forms filed) | All required filings complied with | All required filings complied with |
| Director transactions exceeding 1% of any class (Fund adviser/Portfolio Manager affiliates) | None since beginning of fiscal year | None since beginning of fiscal year |
Governance Assessment
- Strengths:
- Clear independence posture; entire Boards independent; independent Chairman .
- High engagement: perfect attendance for Burke at Board/Audit meetings across FY2023–FY2024; active membership on Audit and Nominating & Governance committees .
- Alignment: meaningful personal ownership in both Funds with increased holdings year‑over‑year .
- Watch items / potential conflicts:
- Historical ALPS executive roles (the Funds’ adviser and affiliates) could be perceived as a legacy conflict; however, Board designates current independence under NYSE/1940 Act standards and Burke retired in 2019 .
- Low shareholder‑meeting attendance culture (none attended 2024 annual meetings), which some investors view as a soft engagement signal; Boards hold regular executive sessions without management .
- Compensation signals:
- Director compensation is cash-based with no bonus/retirement plans; YoY increase in fund-level retainers consistent with broader fund-complex compensation trends; no equity grants or performance metrics disclosed for directors .
Election Status
- Nominated for re-election as ASG Director at the 2025 Annual Meeting; proposed term through 2028 (existing term expiring 2025). Boards recommend voting FOR nominees .