Megan Kennedy
About Megan Kennedy
Megan Kennedy serves as Vice President and Secretary for abrdn Global Income Fund, Inc. (FCO) and sister funds, with tenure since 2008; she is currently Senior Director, Product Governance at abrdn Inc., having joined abrdn in 2005 as a Senior Fund Administrator . She is named as the signatory “By order of the Boards of Directors” in multiple proxy statements and as Vice President and Secretary on regulatory filings, evidencing her core governance and corporate secretary responsibilities . Officers of the Funds (including Kennedy) are employees of abrdn Inc. and do not receive compensation directly from the Funds; personal performance metrics (TSR, revenue, EBITDA) and officer compensation details are not disclosed by FCO .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| abrdn Inc. | Senior Fund Administrator | Since 2005 | Fund administration and product governance support for U.S. registered investment companies as disclosed |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| abrdn Global Income Fund, Inc. (FCO) | Vice President and Secretary | Since 2008 | Corporate secretary; proxy and governance administration; signatory for shareholder materials |
| abrdn Asia-Pacific Income Fund, Inc. (FAX) | Vice President and Secretary | Since 2008 | Corporate secretary; proxy and governance administration; signatory for shareholder materials |
| abrdn Australia Equity Fund, Inc. (IAF) | Vice President and Secretary | Since 2008 | Corporate secretary; proxy and governance administration; signatory for shareholder materials |
Fixed Compensation
Officers of the Funds do not receive compensation directly from the Funds; they are compensated by abrdn Inc., and fund-level details for base salary, bonuses, perquisites, and benefits are not disclosed.
| Component | FCO Disclosure |
|---|---|
| Base Salary | Not disclosed; officers do not receive compensation directly from the Funds |
| Target Bonus % | Not disclosed; officers do not receive compensation directly from the Funds |
| Actual Bonus Paid | Not disclosed; officers do not receive compensation directly from the Funds |
| Perquisites | Not disclosed at the Fund level |
| Pension/SERP | Not disclosed at the Fund level |
Performance Compensation
No fund-level disclosure of officer incentive plan metrics (e.g., revenue growth, EBITDA, TSR, ESG) or payouts; officers are employees of abrdn Inc., and compensation plans are not detailed in the Fund’s proxy statements.
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed | — | — | — | — | — |
Equity Ownership & Alignment
- Officers are employees of abrdn Inc.; proxies present ownership ranges for Directors and nominees, but do not include an officer-specific ownership table for Megan Kennedy .
- Section 16(a) compliance is disclosed at the fund complex level; reporting persons timely filed during FY2023, but the proxy does not provide Kennedy-specific beneficial ownership details; Kennedy appears as an attorney-in-fact within EDGAR-related Power of Attorney schedules for various reporting persons .
| Item | FCO Disclosure |
|---|---|
| Total Beneficial Ownership | Not disclosed for officers in proxy; director ownership ranges are presented separately |
| Ownership as % of Shares Outstanding | Not disclosed |
| Vested vs Unvested Shares | Not disclosed |
| Options (Exercisable vs Unexercisable) | Not disclosed |
| Shares Pledged as Collateral | Not disclosed |
| Stock Ownership Guidelines | Not disclosed at the Fund level for officers |
| Compliance Status | Not disclosed at the Fund level for officers |
| Section 16 Compliance Note | Fund complex reports timely filings; Kennedy is identified in EDGAR POA schedules as attorney-in-fact |
Employment Terms
- Officers serve until successors are duly elected and qualified; specific employment contracts, severance, change-of-control terms, clawbacks, non-compete, and non-solicitation provisions are not disclosed in FCO proxy materials (officers are employees of abrdn Inc.) .
| Term | FCO Disclosure |
|---|---|
| Employment Start (Fund Officer) | Since 2008 |
| Role Tenure | Continuous service as Vice President and Secretary since 2008 |
| Contract Term/Expiration | Officers serve until a successor is elected and qualifies |
| Severance/Change-of-Control | Not disclosed for officers at Fund level |
| Clawback Provisions | Not disclosed for officers at Fund level |
| Non-Compete/Non-Solicit | Not disclosed for officers at Fund level |
| Garden Leave/Consulting | Not disclosed for officers at Fund level |
Additional Role Evidence and Governance Activity
- Kennedy signs proxy solicitations “By order of the Boards of Directors” for FCO and related funds .
- Kennedy signed the Rule 17g-1 Fidelity Bond filing (40-17G) on July 29, 2025 as Vice President and Secretary, reflecting operational responsibility for fund governance and regulatory compliance .
- The proxy clarifies the fund-administrator relationship: abrdn Inc. serves as administrator; Kennedy and certain officers are also directors and/or officers of abrdn Inc. .
Investment Implications
- Compensation alignment: Officer pay is set by abrdn Inc., not FCO; absence of fund-level pay-for-performance disclosure limits direct linkage of Kennedy’s incentives to FCO’s TSR or earnings, shifting alignment to corporate governance duties rather than shareholder-return metrics .
- Insider selling pressure: With no fund-level equity awards or officer ownership disclosed and officers not compensated by the Fund, structural selling pressure from officer equity appears limited based on available disclosures; monitor EDGAR for any future Form 3/4 filings .
- Retention risk: Long tenure since 2008 and repeated governance signatory roles point to institutional continuity; roles span multiple related funds (FAX, FCO, IAF), suggesting established process ownership and cross-fund expertise .
- Trading signals: Watch for Item 5.02 8-Ks signaling officer changes; current disclosures emphasize stable governance and administrator-led staffing rather than fund-level executive incentives; operational filings (e.g., fidelity bond) reinforce steady compliance posture .