James Howley
About James Howley
James M. Howley (year of birth: 1972) serves as Chief Accounting Officer, Chief Financial Officer, Principal Financial and Accounting Officer, and Treasurer of the Fund, and is a Managing Director at Guggenheim Investments (2004–present) . He has been in his current officer roles across the Guggenheim fund complex since 2022, following prior service as Assistant Treasurer for certain funds in the complex (2006–2022) and earlier as Manager of Mutual Fund Administration at Van Kampen Investments (1996–2004) . The proxy states fund officers receive no compensation from the Funds (compensation is paid by the Adviser or affiliates), so pay-for-performance details (base, bonus, equity metrics) are not disclosed at the Fund level; officers and trustees as a group owned less than 1% of GOF as of December 31, 2024 . Fund performance data is updated monthly on the Guggenheim Investments website but is not detailed in the proxy; no TSR/EBITDA metrics are tied to officer pay in these materials .
Past Roles
| Organization | Role | Years | Strategic Impact / Notes |
|---|---|---|---|
| Guggenheim Investments | Managing Director | 2004–present | Executive leadership within the adviser to the Funds . |
| Guggenheim Fund Complex | Chief Accounting Officer, Chief Financial Officer, Principal Financial and Accounting Officer, and Treasurer | 2022–present | Senior financial oversight roles across certain funds in the complex, including GOF . |
| Guggenheim Fund Complex | Assistant Treasurer | 2006–2022 | Served across certain funds; operational finance and treasury support . |
| Van Kampen Investments, Inc. | Manager, Mutual Fund Administration | 1996–2004 | Oversight of fund administration functions . |
External Roles
No external directorships or outside board roles for Mr. Howley are disclosed in the proxy materials reviewed .
Fixed Compensation
| Component | Disclosure |
|---|---|
| Compensation paid by GOF to officers | Fund officers receive no compensation from the Funds; they may be compensated by the Adviser, Sub-Adviser, or affiliates (amounts not disclosed in the proxy) . |
Performance Compensation
| Element | Disclosure |
|---|---|
| Annual/long-term incentive design, targets, weightings, payout | Not disclosed at the Fund level; officer compensation is paid by the Adviser/affiliates and not reported in this proxy . |
| Equity awards (RSUs/PSUs/options), grant dates/values, vesting schedules | Not disclosed at the Fund level in the proxy . |
| Clawback/tax gross-up/deferral/pension/SERP/perquisites | Not disclosed at the Fund level in the proxy . |
Equity Ownership & Alignment
| Metric | Disclosure |
|---|---|
| Total beneficial ownership (group) | Trustees and officers of GOF, as a group, owned less than 1% of outstanding shares as of December 31, 2024 . |
| Individual officer ownership (Howley) | Not broken out individually in the proxy; trustee-level ranges are provided, but officer holdings are not detailed . |
| Shares pledged | No pledging by officers disclosed in the proxy . |
| Ownership guidelines | No officer ownership guidelines disclosed in the proxy . |
Employment Terms
| Term | Disclosure |
|---|---|
| Appointment and term | Officers serve at the pleasure of the Board and until a successor is appointed and qualified or upon resignation/removal . |
| Severance / change-in-control | Not disclosed at the Fund level; officer employment contracts, severance multiples, and change-of-control terms are not included in the proxy . |
| Non-compete / non-solicit / garden leave | Not disclosed in the proxy . |
| Compensation committee oversight | The proxy includes Board and committee structure; officer pay is not overseen at the Fund level because officers are not compensated by the Funds . |
Investment Implications
- Pay-for-performance assessment at the Fund level is constrained: fund officers receive no compensation from the Funds, and the proxy does not disclose adviser-level pay elements (base/bonus/equity), targets, or vesting—limiting compensation-alignment analysis and quantitative benchmarking .
- Direct alignment via ownership appears limited at the Fund level: trustees and officers as a group owned less than 1% of GOF as of December 31, 2024; no pledging was disclosed—reducing potential selling/pledging overhang signals from officers .
- Tenure and continuity: Howley has been with Guggenheim since 2004 and in senior finance roles since 2022, indicating long organizational experience in fund finance and administration which can lower operational execution risk; however, explicit performance-linked incentives for the Fund are not disclosed here .
- Monitoring focus: Because Section 16/insider transaction details were not surfaced in the document set, monitor future proxy updates, Form 4s, and any Item 5.02 8‑K events for changes in roles, retention packages, or equity activity; the Fund directs investors to its website for monthly performance updates that may contextualize management execution .
Sources: GOF DEF 14A (Feb 28, 2025) officer biographies and governance disclosures; ownership table and officer compensation statement .