Megan Kennedy

About Megan Kennedy

Megan Kennedy serves as Vice President and Secretary of abrdn Global Infrastructure Income Fund (ASGI). Disclosures list her year of birth as 1974 and note she is currently Senior Director, Product Governance at abrdn Inc., having joined abrdn in 2005 . Fund proxies state she has served as a Fund officer since 2020, while an N‑14 registration statement indicates “Since 2012” for her officer tenure, reflecting a long-standing governance role in the abrdn fund complex . For performance context during her officer tenure, ASGI reported since‑inception (7/29/2020) NAV total return of 8.33% and market price total return of 4.06% as of March 31, 2024; the S&P Global Infrastructure Index (Net TR) delivered 7.68% over the same horizon .

Past Roles

External Roles

Fixed Compensation

• Officers of the Fund are employees of, and are compensated by, the Adviser (abrdn Inc.) or its affiliates; the Fund does not pay compensation to its executive officers. No base salary, bonus, or perquisite detail for officers is disclosed in ASGI’s proxy; only Trustee compensation is presented .

Performance Compensation

• Equity or cash incentive plans for Fund officers are not disclosed by ASGI; as a registered investment company, officer compensation is paid by the Adviser and not reported at the Fund level. No targets, weightings, or payout formulas are provided for Fund officers in the proxy .

Equity Ownership & Alignment

• Officer beneficial ownership tables are not provided in the proxy (Trustee ownership is disclosed; officers are excluded) .
• Multiple Form 3 filings for other reporting persons appoint Ms. Kennedy as an attorney‑in‑fact for Section 16/13 filings across the abrdn U.S. closed‑end funds complex (administrative/compliance capacity), indicating her role in governance rather than personal trading activity disclosure in these items .
• No pledging or hedging disclosures for officers are provided in ASGI’s proxy; no officer equity guidelines for ASGI are disclosed in the proxy (Trustee compensation/ownership only) .

Employment Terms

• Officers are elected annually by the Board and serve until successors are duly elected and qualified, consistent with standard U.S. registered fund governance .
• The Fund does not disclose individual officer employment agreements, severance, or change‑of‑control terms; officers are employees of abrdn Inc., and such arrangements (if any) would be at the Adviser level and not reported by the Fund .
• Ms. Kennedy signs ASGI proxy materials as Secretary and is named among authorized proxyholders, reflecting ongoing corporate secretary responsibilities for shareholder meetings .

Performance Context (Fund Returns)

Additional NAV context (average annual figures reported during her tenure):

• Average annual total return on NAV for the 5‑year period ending 11/30/2024: 8.79% (ASGI); Fund launched 7/29/2020, data presented from inception through 11/30/2024 .
• Average annual total return on NAV for the 5‑year period ending 2/28/2025: 8.10% (ASGI); presented from inception through 2/28/2025 .

Governance/Section 16 Administration Signals

• Ms. Kennedy is repeatedly designated as attorney‑in‑fact on Form 3 power‑of‑attorney exhibits across abrdn funds, alongside other abrdn officers. This underscores her operational authority in regulatory filings rather than indicating trading activity of her own .
• Proxies list her as Secretary in charge of corporate secretary functions and proxy execution logistics for ASGI shareholder meetings .

Items Not Disclosed (and therefore omitted)

• Base salary, target/actual bonus, incentive metrics or curves, equity award sizes/vesting, severance/CoC terms, clawbacks, tax gross‑ups, deferred compensation, pensions/SERP, perquisites (officers compensated by Adviser; not reported by Fund) .
• Officer beneficial share ownership, pledging/hedging, ownership guidelines compliance (not reported in proxy; Trustee ownership only) .
• Board committee memberships or director compensation for Ms. Kennedy (she is an officer, not a Trustee) .

Investment Implications

• Pay‑for‑performance alignment: ASGI does not compensate officers; they are paid by abrdn Inc., so no Fund‑level equity or bonus disclosures tie Ms. Kennedy’s compensation to ASGI NAV/TSR. This limits direct insight into incentive alignment at the Fund level, though it is typical for 1940‑Act funds .
• Insider selling pressure: Absence of Fund‑level equity awards to officers and lack of officer ownership disclosure in the proxy suggest limited direct selling pressure vectors tied to Fund stock for officers; Ms. Kennedy’s recurring POA role is administrative rather than indicative of personal trading .
• Retention/continuity: Long tenure at abrdn (joined 2005) and multi‑year officer service at ASGI indicate low near‑term retention risk in her governance role, which supports operational stability in proxy, Section 16, and product governance processes .
• Trading signals: Officer governance roles (Secretary/POA) rarely serve as trading signals. For performance orientation, investors should focus on portfolio performance and distribution sustainability; since‑inception NAV total return has modestly exceeded the infrastructure benchmark while market price returns lag NAV, implying discount dynamics rather than officer‑linked drivers .