Brandi Sinkovich
About Brandi Sinkovich
Brandi Sinkovich is the Fund’s Chief Compliance Officer (CCO), serving since 2023; she was named an Executive Director of UBS Asset Management (Americas) LLC in May 2024 and is based at Eleven Madison Avenue, New York . She was born in 1979, and her recent experience includes Director at Credit Suisse (Jan 2023–May 2024), Vice President and Regulatory Counsel at Exos Financial (2022–2023), and prior compliance roles at Neuberger Berman (2019–2022) and Goldman Sachs (2017–2019) . The Fund’s proxy does not disclose CCO compensation or Fund performance metrics (TSR, revenue/EBITDA); it notes that officers are employed and compensated by UBS AM (Americas) and not by the Fund, and the Annual Report with performance is furnished separately . A Section 16 note indicates a Form 3 for Ms. Sinkovich’s appointment was inadvertently filed late and subsequently corrected .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| UBS Asset Management (Americas) LLC | Executive Director | Since May 2024 | Not disclosed in proxy |
| Credit Suisse | Director | Jan 2023–May 2024 | Not disclosed in proxy |
| Exos Financial | Vice President and Regulatory Counsel | 2022–2023 | Not disclosed in proxy |
| Neuberger Berman | Vice President and Compliance Officer | 2019–2022 | Not disclosed in proxy |
| Goldman Sachs | Vice President, Compliance | 2017–2019 | Not disclosed in proxy |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| — | None disclosed in Fund proxy | — | — |
Fixed Compensation
All Fund officers are employees of and compensated by UBS AM (Americas); the Fund does not pay executive officer compensation and discloses no officer salary or bonus details.
| Component | FY 2023 | FY 2024 | Notes |
|---|---|---|---|
| Base Salary | Not disclosed | Not disclosed | Officers are employed and paid by UBS AM (Americas) |
| Target Bonus % | Not disclosed | Not disclosed | Not disclosed in Fund proxy |
| Actual Bonus Paid | Not disclosed | Not disclosed | Not disclosed in Fund proxy |
| Perquisites | Not disclosed | Not disclosed | Not disclosed in Fund proxy |
Performance Compensation
The Fund does not have a Compensation Committee and provides no disclosure on officer incentive metrics or equity awards.
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed in proxy | — | — | — | — | — |
The Fund states it “does not have a Compensation Committee,” and officers receive no compensation from the Fund; no incentive plan details are provided .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Individual beneficial ownership (Brandi Sinkovich) | Not disclosed in proxy (beneficial ownership table covers Directors; officers disclosed only in aggregate) |
| Officers and Directors – aggregate ownership | Less than 1% of outstanding Shares as of February 28, 2025 |
| Shares pledged/hedged | Not disclosed in proxy |
| Stock ownership guidelines (officers) | Not disclosed in proxy |
Employment Terms
| Term | Disclosure |
|---|---|
| Employment start (Fund role) | CCO since 2023 |
| Affiliation with adviser | Associated with Credit Suisse/UBS AM since January 2023; Executive Director at UBS AM (Americas) since May 2024 |
| Contract term/auto-renewal | Not disclosed in proxy |
| Severance multiple | Not disclosed in proxy |
| Change-of-control provisions | Not disclosed in proxy |
| Equity vesting (acceleration) | Not disclosed in proxy |
| Non-compete / Non-solicit | Not disclosed in proxy |
| Clawback policy | Not disclosed in proxy |
| Hedging/Pledging policy | Not disclosed in proxy |
| Section 16 compliance note | A Form 3 for Ms. Sinkovich’s appointment as CCO was inadvertently not filed timely; subsequently filed |
Investment Implications
- Visibility into pay-for-performance alignment is limited: the Fund has no Compensation Committee, and officers (including the CCO) are employed and compensated by UBS AM (Americas), with no salary/bonus/equity details disclosed at the Fund level .
- Insider selling pressure from management appears structurally low at the Fund level given aggregate officer/director ownership under 1% (individual officer holdings not disclosed) .
- A late Form 3 at appointment suggests a minor governance/process lapse, since corrected; monitor for any future Section 16 timeliness issues .
- Shareholder influence: First Trust Portfolios L.P. and affiliates reported 22.21% ownership as of January 17, 2025, which can affect fund governance and engagement dynamics .
- For performance-context testing of alignment (TSR, NAV total return), rely on the Fund’s Annual Report; the proxy explicitly notes the Annual Report (with audited financials) is furnished separately .