Jeffrey R. Holland

About Jeffrey R. Holland

Jeffrey R. Holland is an Independent Director (Class One) whose term expires in 2028; he was appointed effective January 1, 2025 and had two months of service at the time of the 2025 proxy filing . Age 59, he is a private investor with prior senior experience at Brown Brothers Harriman & Co. (General Partner 2006–2013; Limited Partner 2014–2018) and has chaired audit committees at affiliated fund boards (SCB Funds and AB Multi-Manager Alternative Fund) . He oversees 95 portfolios across 28 investment companies in the AB Funds Complex, and is designated as an Independent Director under the 1940 Act framework applied by the Board .

Past Roles

External Roles

Board Governance

• Appointment and tenure: Appointed as an Independent Director of each Fund effective January 1, 2025; Class One term runs to 2028; service at filing was two months .
• Independence and committee structure: The Board has three standing committees—Audit; Governance and Nominating; and Independent Directors—each composed exclusively of Independent Directors; independent sessions are held regularly .
• Committee expertise signal: Holland previously chaired audit committees at SCB Funds and AMMAF (Jul 2023–Dec 2024), demonstrating relevant oversight expertise for financial reporting and auditor independence .
• Meetings and attendance disclosure: In fiscal 2024 the AGHIF Board met 4 times and the ANMIF Board met 4 times; Audit Committees met 4 times (AGHIF) and 3 times (ANMIF). Individual attendance rates are not disclosed; the Governance and Nominating Committee annually reviews attendance and engagement .
• Current Audit Committee membership context: The Audit Committee report for 2024 was submitted by members listed (Bermudez, Loeb, Downey*, McMullen, Moody, Turner*, Jacklin*), reflecting the committee composition prior to Jan 1, 2025; Holland, appointed effective Jan 1, 2025, is not listed for the 2024 report .

Fixed Compensation

The proxy does not break out cash retainer vs. meeting/committee fees for Holland; only complex-wide totals and Fund-level totals are disclosed for 2024 .

Performance Compensation

• No equity, options, performance-based metrics, vesting schedules, severance, change-of-control, clawback, gross-ups, deferred comp, or pension/SERP benefits for directors are disclosed for Holland in the proxy; skip items not disclosed .

Other Directorships & Interlocks

Expertise & Qualifications

• Financial and operational oversight: Senior executive background at Brown Brothers Harriman with experience providing custody and services to investment funds globally .
• Governance specialization: Prior Audit Committee Chair roles at SCB Funds and AMMAF; aligns with audit oversight, auditor independence, and internal controls competencies .
• Portfolio oversight scale: Oversees 95 portfolios across 28 investment companies, signaling broad fund governance exposure .

Equity Ownership

Alignment signal: No AWF fund holdings as of Dec 31, 2024, but over $100,000 aggregated across the AB Funds Complex; the Adviser is an affiliate of the Funds, underscoring the importance of independent oversight .

Governance Assessment

• Strengths

  • Independent status, with prior Audit Committee chair experience, supports board effectiveness in financial reporting and auditor independence oversight .
  • Board and committee structures composed exclusively of Independent Directors; independent legal counsel engaged; regular independent sessions—positive governance architecture for closed-end funds .
  • Audit Committee pre-approves 100% of audit, audit-related, and tax services; explicitly evaluates auditor independence including non-audit services to the Adviser and service affiliates—strong independence controls .

• Watch items / potential red flags

  • No AWF-specific fund holdings disclosed for Holland as of year-end 2024 may indicate weaker direct alignment with AWF stockholders, though he holds over $100,000 aggregated across the complex .
  • Committee assignments for Holland at AWF are not explicitly disclosed in the proxy excerpts; clarity on his specific committee membership post-appointment would enhance assessment of engagement and influence .
  • The Adviser is an affiliate of each Fund; ongoing vigilance around non-audit services and related-party dynamics remains essential despite existing pre-approval and independence safeguards .

• Independence and engagement signals

  • Designation as Independent Director and prior audit committee leadership indicate readiness for oversight roles; the Governance and Nominating Committee’s annual reviews emphasize attendance and preparation standards, though individual attendance percentages are not disclosed .

Overall, Holland’s audit governance pedigree and independent status are positives for investor confidence. The absence of AWF-specific holdings and limited disclosure on his current committee assignments warrant monitoring, particularly given the adviser-affiliate context that depends on robust Audit Committee controls .