Edmund J. Burke
About Edmund J. Burke
Edmund J. Burke (born 1961) is an Independent Trustee of Clough Global Opportunities Fund (GLO) who has served on the Boards of the Clough closed‑end funds since 2006. He retired from ALPS Holdings, Inc. in 2019 and transitioned from “Interested Trustee” to “Independent Trustee” effective November 1, 2021, reflecting independence under NYSE American standards and the Investment Company Act of 1940 . His background spans fund administration, distribution, and ETF platforms across multiple ALPS entities, bringing operational depth to closed‑end fund governance .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| ALPS Holdings, Inc. | President and Director | 1991–2019 | Led operational requirements for investment companies; multi-entity oversight |
| ALPS Fund Services, Inc. | Director | Through 2019 | Oversight of fund services operations |
| ALPS Advisors, Inc. | President and Director | Through 2019 | Oversight of advisory activities |
| ALPS Distributors, Inc. | Director | Through 2019 | Distribution governance for registered funds |
| ALPS Portfolio Solutions Distributor, Inc. | Director | Through 2019 | ETF/portfolio solutions distribution oversight |
External Roles
| Organization | Role | Status/Start | Notes |
|---|---|---|---|
| ALPS ETF Trust | Trustee | Current | Open‑end investment company trustee role |
| Financial Investors Trust | Trustee | Current | Open‑end investment company trustee role |
| Liberty All‑Star Equity Fund, Inc. | Trustee | Current | Closed‑end fund trustee role |
| Liberty All‑Star Growth Fund, Inc. | Director | Current | Closed‑end fund director role |
| ETF Action | Passive Partner | Since 2020 | Data/analytics for RIAs; non‑operating partner |
| Alliance Bioenergy Plus, Inc. | Director | Since 2020 | Tech company focused on renewable/bioplastics |
| BlueBiofuels Inc | Director | Since 2020 | Public alt‑energy company board seat |
Board Governance
- Independence: Independent Trustee since 11/1/2021; independent under NYSE American listing standards and 1940 Act .
- Committee memberships FY2024:
- Audit Committee: Member; committee met 2 times; Chair and financial expert: Karen DiGravio .
- Governance & Nominating Committee: Member; committee met 2 times; Chair: Adam D. Crescenzi .
- Executive Committee: Member alongside Weber and McNally (as of FY2023 committee slate) .
- Qualified Legal Compliance Committee (QLCC): Exists; chaired by Hon. Vincent W. Versaci since 2017 (Burke not identified as chair) .
- Attendance: Each Trustee attended at least 75% of Board and any committee meetings in FY2024 and FY2023 .
- Annual Shareholder Meeting attendance: Funds do not require attendance; no Trustees attended the Annual Meeting in 2024 and 2023 .
- Board leadership: Independent Chairman (Clifford J. Weber) structure to mitigate conflicts; independent executive sessions held quarterly .
Fixed Compensation
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Total Compensation Paid from Fund Complex (GLV+GLQ+GLO) | $61,500 | $63,000 |
| Fund | FY 2024 Compensation |
|---|---|
| Clough Global Dividend & Income Fund (GLV) | $21,000 |
| Clough Global Equity Fund (GLQ) | $21,000 |
| Clough Global Opportunities Fund (GLO) | $21,000 |
- Fee policy (per Fund): Annual retainer $14,000 for Independent Trustees; $1,500 per Board meeting; telephonic meeting fee $500. Chairman: $16,800 retainer + $1,800 per Board meeting + $600 telephonic; Audit Committee Chair: $15,400 retainer + $1,650 per Board meeting + $550 telephonic. No additional fees for committee meetings; out‑of‑pocket expenses reimbursed .
Performance Compensation
- No equity awards or options; director compensation is cash retainer/meeting fees only; the Funds do not have a compensation committee . | Performance‑Linked Elements | Detail | |---|---| | Equity awards (RSUs/PSUs), options, performance metrics | None disclosed for Trustees; pay not tied to TSR/EBITDA/ESG metrics |
Other Directorships & Interlocks
| Company | Board/Role | Potential Interlock/Exposure |
|---|---|---|
| Liberty All‑Star Equity Fund, Inc. | Trustee | Closed‑end fund; common governance skillset; no related‑party transactions >$120k with Clough/adviser affiliates disclosed |
| Liberty All‑Star Growth Fund, Inc. | Director | Closed‑end fund; same as above |
| ALPS ETF Trust | Trustee | ETF trust; industry overlap; independence maintained per trustee transactions disclosure |
| Financial Investors Trust | Trustee | Open‑end funds; independence maintained per disclosure |
| ETF Action (private) | Passive Partner | Data/analytics; no Fund‑adviser relationship disclosed |
| Alliance Bioenergy Plus, Inc.; BlueBiofuels Inc | Director | Renewable/alt‑energy boards; no Fund‑adviser transactions disclosed |
Expertise & Qualifications
- Operational leadership across fund administration, distribution, and ETF platforms (ALPS), with decades of experience in the day‑to‑day operations of registered funds, ETFs, and hedge funds .
- Ongoing oversight across multiple investment company boards/trusts (Liberty All‑Star funds; ALPS ETF Trust; Financial Investors Trust), aligning with audit, compliance, and governance responsibilities at GLO .
Equity Ownership
| Holder | GLO Shares | % of Class | Notes |
|---|---|---|---|
| Edmund J. Burke | 0 | 0% | Reported “none” dollar range and 0 shares across GLV/GLQ/GLO as of April/May 2025 |
- Aggregate dollar range across the Clough fund family: “none” as of April 28, 2025 .
- Section 16(a) reporting compliance: Funds believe all Reporting Persons timely filed required reports in FY2024 .
Governance Assessment
- Independence: Burke has been an Independent Trustee since 11/1/2021; the proxy notes no ownership of adviser/affiliate securities and no transactions >$120,000 involving the adviser/affiliates in the last five years for Independent Trustees and immediate families .
- Committee effectiveness: Active on Audit and Governance & Nominating; Audit chaired by a designated financial expert (DiGravio) and met 2 times in FY2024; Governance & Nominating met 2 times in FY2024, supporting board refresh and qualification standards .
- Engagement: Met the minimum 75% attendance threshold in FY2024 and FY2023; however, Trustees did not attend the Annual Shareholder Meetings in 2024/2023 (policy does not require attendance) .
- Compensation alignment: Compensation is modest and cash‑based (no equity or performance pay), consistent with closed‑end fund norms; total rose from $61,500 (FY2023) to $63,000 (FY2024) across the three funds .
- Ownership alignment RED FLAG: Reported no share ownership in GLO (0 shares, 0%) and “none” dollar range across the fund family—limited “skin‑in‑the‑game” alignment for a long‑tenured director .
- Shareholder rights RED FLAG: 2025 Amended and Restated By‑Laws tightened forum selection (Delaware courts/federal courts for 1933 Act/1940 Act claims), imposed waiver of jury trial, and heightened derivative/direct action prerequisites—features commonly viewed as shareholder‑unfriendly and potentially reducing litigation leverage .
- Conflicts: No related‑party transactions or adviser/affiliate interests >$120,000 disclosed for Independent Trustees; committee structure includes independent executive sessions quarterly and independent Chair to mitigate conflicts .