Radhika Ajmera
About Radhika Ajmera
Independent Director of abrdn Global Income Fund, Inc. (NYSE MKT: FCO); year of birth 1964; Class III Director with current FCO term expiring in 2025 and nominated for a new three-year term ending 2028; director of FCO since 2021. Background: over 20 years of fund management experience (predominantly emerging markets), Chair of abrdn Japan Equity Fund Inc. since 2017 (director since 2014), and a graduate of the London School of Economics. She is classified as an Independent Director under NYSE MKT listing standards and serves on committees composed entirely of Independent Directors.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| abrdn Japan Equity Fund Inc. | Chair; Director | Chair since 2017; Director since 2014 | Board leadership; closed-end fund governance |
| Fund management (sector) | Investment professional | 20+ years | Emerging markets focus; financial background in fund management |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Aberdeen Asia-Pacific Income Investment Co Ltd | Independent non-executive director | Since 2015 | abrdn-related registrant |
| Aberdeen Funds | Independent non-executive director | Since 2020 | Open-end fund complex (multi-portfolios) |
| Aberdeen Global Income Fund Inc | Independent non-executive director | Since 2021 | Registrant within abrdn fund complex |
| Aberdeen Asia-Pacific Income Fund Inc | Independent non-executive director | Since 2021 | Registrant within abrdn fund complex |
| Aberdeen Australia Equity Fund Inc (IAF) | Independent non-executive director | Since 2021 | Registrant within abrdn fund complex |
| Fund complex oversight | Director oversight count | 5 registrants; 22 portfolios | Breadth of responsibilities across the complex |
Board Governance
- Committee memberships: Audit Committee; Nominating and Corporate Governance Committee; both committees are entirely Independent Directors under NYSE MKT standards. Members include P. Gerald Malone, Rahn Porter, Moritz Sell, and Radhika Ajmera.
- FCO board structure: super-majority of Independent Directors; Independent Director as Chair (Mr. Malone).
- Meetings and attendance: FY ended Oct 31, 2024 — Board held five regular meetings; Audit Committee held four; Nominating and Corporate Governance Committee held one. Each incumbent Director attended at least 75% of the aggregate Board and committee meetings on which they served.
- Executive sessions: Independent Directors meet in executive session at least quarterly; independent legal counsel engaged.
- Director attendance at shareholder meetings policy: None established.
| Committee | Role | Independence | Source |
|---|---|---|---|
| Audit Committee | Member | Committee entirely Independent Directors | |
| Nominating & Corporate Governance | Member | Committee entirely Independent Directors |
Fixed Compensation
| Metric | FY Ended Oct 31, 2024 | Source |
|---|---|---|
| Aggregate compensation from FCO ($) | $49,005 | |
| Aggregate compensation from FAX ($) | $54,798 | |
| Aggregate compensation from IAF ($) | $50,855 | |
| Total compensation from fund complex ($) | $340,958 |
Note: Proxy discloses aggregate compensation by fund and complex; no per-element (retainer, committee chair/membership fees, meeting fees) breakdown provided.
Performance Compensation
- The proxy presents aggregate director compensation; it does not disclose any stock awards, option awards, or performance-based metrics tied to compensation for Directors.
Other Directorships & Interlocks
| Company | Relationship to FCO | Role | Potential Interlock/Conflict Considerations |
|---|---|---|---|
| abrdn Japan Equity Fund Inc | Same sponsor complex | Chair/Director | Same sponsor; committee independence maintained |
| Aberdeen Funds (open-end) | Same sponsor complex | Independent director | Same sponsor; no ownership in manager/sub-adviser reported |
| Aberdeen Global/Asia-Pacific/Australia Equity Funds | Same sponsor complex | Independent director | Same sponsor; breadth of oversight across registrants |
Expertise & Qualifications
- Financial background in fund management with emerging markets focus; closed-end fund governance experience; LSE graduate.
- Board skills noted by the Board include ability to critically review information and exercise effective business judgment; Ms. Ajmera specifically recognized for financial background in fund management.
Equity Ownership
| Holding | Dollar Range | As-of Date | Source |
|---|---|---|---|
| FCO shares | $1 — $10,000 | April 1, 2025 (furnished as of Oct 31, 2024) | |
| FAX shares | $1 — $10,000 | April 1, 2025 (furnished as of Oct 31, 2024) | |
| IAF shares | $1 — $10,000 | April 1, 2025 (furnished as of Oct 31, 2024) | |
| Aggregate across abrdn Family of Investment Companies | $10,001 — $50,000 | April 1, 2025 | |
| Directors/officers aggregate ownership of FCO | Less than 1% of outstanding equity | April 1, 2025 | |
| Independent Directors’ and immediate family ownership in Investment Manager/Sub-Adviser | None | April 1, 2025 |
Share ownership guidelines, pledging/hedging, and ownership guideline compliance are not disclosed in the proxy.
Governance Assessment
- Independence and committee effectiveness: Ajmera serves on both Audit and Nominating & Governance Committees comprised solely of independent directors, with board leadership under an Independent Chair — a positive oversight structure for investor confidence.
- Attendance and engagement: Each incumbent met at least 75% attendance across Board and committees; regular quarterly Board meetings and quarterly executive sessions indicate ongoing engagement and oversight.
- Alignment and incentives: Ajmera’s disclosed FCO share ownership is modest ($1–$10K), and the proxy provides only aggregate cash compensation figures without equity or performance-linked components; this suggests limited “at-risk” alignment via fund equity, but is typical for registered investment company boards.
- Conflicts and related-party exposure: Independent status affirmed; no ownership by Independent Directors or immediate family in the Investment Manager or Sub-Adviser; committees pre-approve auditor services and review independence, mitigating principal-agent concerns.
- Workload/overboarding signal: Oversight responsibility spans 5 registrants and 22 portfolios across the fund complex, indicating substantial governance workload; balanced by institutional support (independent counsel, chartered committees) and structured meeting cadence.
Red Flags to monitor
- Low absolute FCO share ownership (alignment signal).
- Extensive multi-fund responsibilities (capacity/attention risk).
- Lack of disclosed performance-based compensation metrics for directors (pay-for-performance linkage absent in proxy).
Positive signals
- Strong independence posture; independent chair; quarterly executive sessions; independent legal counsel to the Independent Directors.
- Committee roles (Audit; Nominating & Governance) directly tied to financial reporting integrity and board refreshment.
- Auditor independence oversight and clear fee disclosure; KPMG selected and independence discussed with Audit Committee.