Calgary Avansino
About Calgary Avansino
Independent Trustee of The Gabelli Global Utility & Income Trust (GLU) since 2021; born 1975; Georgetown University ’98 (English Literature, minor in Women’s Studies) and Cate Preparatory School ’93. Prior roles include CEO of Glamcam (2018–2020), Executive Fashion Director and Digital Project Director at British Vogue (2009–2013), launch of a wellness company beginning in 2014, and author of “Keep It Real” (2016). She oversees 5 portfolios in the Gabelli Fund Complex and is classified by the Fund as an Independent Trustee, with her current term running to the 2027 Annual Meeting.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Glamcam (social commerce app) | Chief Executive Officer | 2018–2020 | CEO leadership in Gen Z-focused social commerce |
| British Vogue | Executive Fashion Director; Digital Project Director | 2009–2013 | Executive leadership in fashion media and digital initiatives |
| Vogue (Contributing Editor) | Contributing Editor; wellness company launch | Began 2014 | Built wellness brand; speaking on wellness trends |
| Self | Author, “Keep It Real” (nutrition book) | 2016 | Published wellness/nutrition content |
External Roles
| Organization | Role | Tenure |
|---|---|---|
| Cate School | Trustee | Since 2017 |
| The E.L. Wiegand Foundation | Trustee | Since 2018 |
| Common Sense Media | Advisory Council Member | Since 2019 |
Board Governance
- Board composition: nine trustees; GLU divides into three classes; Avansino serves in the class whose term continues until the 2027 Annual Meeting. All Trustees are designated “Independent” under the 1940 Act (with possible exceptions noted in proxy).
- Committee assignments: Audit Committee (Enright, Melarkey, Salibello, Zizza); Nominating Committee (Enright, Melarkey, Zizza); Lead Independent Trustee is James P. Conn; Avansino is not listed as a committee member.
- Board leadership: Board has no Chair; Lead Independent Trustee presides over executive sessions; Independent Trustees meet regularly in executive session.
- Attendance: Board met 4 times in 2024; each Trustee attended at least 75% of Board and applicable committee meetings.
- Annual meeting participation: “The Fund does not expect Trustees or nominees to attend”; none attended the 2024 annual meeting.
Fixed Compensation
| Component | GLU Fee Schedule | Notes |
|---|---|---|
| Annual retainer (Independent Trustee) | $3,000 | Per year |
| Board meeting fee | $1,000 per meeting | 4 meetings in 2024 |
| Committee meeting fee | $500 per meeting | Applies to committee members |
| Audit Committee Chair fee | $3,000 annually | Enright (Chair) |
| Nominating Committee Chair fee | $2,000 annually | Enright (Chair) |
| Lead Independent Trustee fee | $1,000 annually | Conn (Lead Independent) |
| Aggregate trustee remuneration paid by GLU (FY2024) | $66,646 | Excludes out-of-pocket expenses |
| Person | Aggregate Compensation from GLU (FY2024) | Aggregate Compensation from Fund Complex (FY2024) | Number of Funds/Portfolios |
|---|---|---|---|
| Calgary Avansino (Trustee) | $7,000 | $52,000 | (5) |
Performance Compensation
| Performance-Linked Elements | Disclosure |
|---|---|
| Equity awards (RSUs/PSUs), options, performance metrics, vesting schedules | None disclosed for Independent Trustees; compensation table lists cash-based fees only. |
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards | None disclosed (outside of other funds managed by the Adviser). |
| Familial/related-party interlocks | Avansino is the daughter of Raymond C. Avansino, Jr., a Director of GAMCO Investors, Inc., the parent of GLU’s Adviser (Gabelli Funds, LLC). Potential related-party exposure noted. |
| Portfolios overseen in Fund Complex | 5 portfolios overseen by Avansino. |
Expertise & Qualifications
- Media and digital commerce: Senior roles at British Vogue (2009–2013) and CEO of Glamcam (2018–2020), bringing consumer engagement, brand, and digital product experience.
- Wellness, content, and public speaking: Founded wellness company beginning in 2014 and published “Keep It Real” (2016).
- Education: Georgetown University (B.A. English Literature; minor Women’s Studies) and Cate Preparatory School.
Equity Ownership
| Holder | Dollar Range of GLU Equity | Aggregate Dollar Range in Fund Complex | Shares Held (GLU) | Ownership % (GLU) |
|---|---|---|---|---|
| Calgary Avansino | A (None) | A (None) | 0 | <1% (asterisk notation) |
Note: GLU had 5,978,272 Common Shares, 18,314 Series A Preferred, and 505,014 Series B Preferred outstanding on the record date.
Governance Assessment
- Positives:
- Classified as Independent Trustee; attendance threshold met (≥75%); Independent Trustees meet in executive session, and Board maintains structured Audit and Nominating oversight.
- Compensation appears modest and standardized across trustees (cash-based retainer/meeting fees), limiting pay-related conflicts.
- Watch items / RED FLAGS:
- Related-party exposure: familial tie to a Director of GAMCO Investors, Inc. (Adviser’s parent). While the Fund still designates her as “Independent,” investors may view this as a potential conflict that could affect perceived independence.
- Ownership alignment: Avansino holds no GLU shares (Dollar Range A, 0 shares), offering limited “skin-in-the-game.”
- Engagement optics: Trustees did not attend the 2024 annual meeting and are not expected to attend; some investors may prefer visible shareholder-meeting engagement.
- Committee influence: Avansino is not listed on Audit or Nominating Committees; fewer formal committee roles may reduce direct governance influence relative to peers.
Overall implication for investor confidence: Governance structure is conventional for a closed-end fund, but zero ownership and familial linkage to the Adviser’s parent company warrant ongoing monitoring of independence safeguards, disclosures, and any related-party transactions involving affiliates.