Christina A. Peeney
About Christina A. Peeney
Christina A. Peeney (born 1969) serves as a Trustee of Bancroft Fund Ltd. (BCV). She joined the Board on November 15, 2023 and is classified as an “interested person” of the Fund due to a direct or indirect beneficial interest in the Adviser (Gabelli Funds, LLC); her current term runs until the 2027 Annual Meeting . Her background includes an MBA in Finance from Fordham University’s Gabelli School of Business and a BA from Rutgers University; she is an Adjunct Professor in the Business and Computer Science Department at Middlesex County College and an Analyst at Amabile Partners, with prior roles at Ernst & Young and Prudential Investments Retirement Services .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Ernst & Young | Auditor | Not disclosed | Not disclosed |
| Prudential Investments Retirement Services | Senior Account Executive | Not disclosed | Not disclosed |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Middlesex County College (Edison, NJ) | Adjunct Professor, Business & Computer Science | Current | Not disclosed |
| Amabile Partners | Analyst | Current | Not disclosed |
| Other public company directorships | — | — | None disclosed (excluding other funds managed by Adviser) |
Board Governance
- Board class and tenure: Trustee since November 15, 2023; serving in the class through the 2027 Annual Meeting .
- Independence: Classified as an “interested person” of the Fund because of a direct or indirect beneficial interest in the Fund’s Adviser .
- Committee assignments: No committee memberships are disclosed for Peeney; Audit Committee comprises Harding (Chair), Bizzell, Bogan; Nominating Committee comprises Melarkey (Chair), Fahrenkopf, Platt; Lead Independent Trustee is James P. Conn .
- Attendance: Trustees met four times in FY ended September 30, 2024; each Trustee then serving attended at least 75% of Board meetings and of any committee of which he or she is a member .
- Shareholder meeting attendance: The Fund does not expect Trustees or nominees to attend; no Trustee or nominee attended the May 13, 2024 annual meeting .
Fixed Compensation
- Fee schedule: Annual retainer $8,500; $1,000 per Board meeting attended; $500 per committee meeting; Audit Chair $2,000; Nominating Chair $2,000; Lead Independent $1,000 .
- FY2024 aggregate compensation:
- From BCV (Fund): $9,375
- From Fund Complex (calendar 2024): $44,146, with oversight of 3 portfolios
| Component | Amount | Notes |
|---|---|---|
| Annual retainer (cash) | $8,500 | Standard trustee retainer |
| Board meeting fees (cash) | $1,000 per meeting | 4 meetings held in FY2024; individual attendance not itemized |
| Committee meeting fees (cash) | $500 per meeting | Not applicable to Peeney (no committees disclosed) |
| Aggregate compensation from BCV (FY2024) | $9,375 | Total cash paid by Fund |
| Aggregate compensation from Fund Complex (CY2024) | $44,146 | Total across Gabelli fund complex; 3 portfolios overseen |
Performance Compensation
- No equity or performance-based compensation disclosed for Trustees (no RSUs, PSUs, or options; compensation presented is cash-based retainers and meeting fees) .
Other Directorships & Interlocks
| Company | Role | Notes |
|---|---|---|
| Public company boards | — | None disclosed (excluding other funds managed by the Adviser) |
| Gabelli Fund Complex portfolios overseen | 3 | Number of investment companies overseen as Trustee within complex |
Expertise & Qualifications
- Education: BA, Rutgers University; MBA (Finance), Gabelli School of Business at Fordham University .
- Technical/functional experience: Audit (Ernst & Young), retirement services (Prudential), investment analysis (Amabile Partners), and academic teaching in business/computer science .
Equity Ownership
| Metric | Value |
|---|---|
| Dollar range of equity securities in BCV | A (None) |
| Common shares beneficially owned | 0 |
| Ownership % of shares outstanding | Less than 1% (asterisked by Fund) |
| Shares pledged as collateral | Not disclosed |
| Ownership guidelines | Not disclosed |
Governance Assessment
- Independence and potential conflicts: Peeney is an “interested person” due to a beneficial interest in the Adviser, which implies affiliation with management and reduces independence; this is a governance red flag for investors seeking fully independent oversight on a closed-end fund board .
- Alignment: No personal ownership of BCV shares as of December 31, 2024 (Dollar Range “A”; 0 shares), signaling limited direct economic alignment with common shareholders .
- Engagement: Board met quarterly in FY2024 with at least 75% attendance by all Trustees; however, Trustees did not attend the May 13, 2024 annual shareholder meeting (the Fund does not expect attendance), which can be viewed as limited direct shareholder engagement .
- Committee participation: No disclosed committee roles for Peeney; key oversight committees (Audit, Nominating) are chaired and staffed by independent Trustees, which partially mitigates oversight concerns but also limits Peeney’s direct role in core governance functions .
- Compensation: Cash-only structure with modest retainer/meeting fees typical for closed-end funds; no performance-based or equity compensation, reducing pay-for-performance alignment but also avoiding complex incentive conflicts .
- Compliance signals: Section 16(a) ownership filings were in compliance during FY2024, with no delinquent reports noted, which supports baseline governance hygiene .
RED FLAGS
- Interested status (non-independent) due to beneficial interest in the Adviser .
- No BCV share ownership disclosed (Dollar Range “A”; 0 shares), indicating low “skin-in-the-game” .
- No committee roles disclosed, limiting direct involvement in audit/nomination oversight .