Michael Marsico
About Michael Marsico
Michael Marsico is a Vice President of The India Fund, Inc. (IFN) and has served as an officer of the Fund since 2022. He was born in 1980 and, in his principal capacity, is Senior Product Manager—US at abrdn Inc.; he joined abrdn in 2014 as a Fund Administrator . The Fund’s proxy does not disclose individual officer compensation or performance targets for officers, and officers do not receive compensation directly from the Fund . On his initial Section 16 filing as an officer (Form 3, 03/10/2022), Marsico reported no beneficial ownership of IFN shares ; as of April 1, 2025, no director or executive officer individually owned more than 1% of the Fund’s common stock (individual officer holdings not itemized) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| abrdn Inc. | Fund Administrator | 2014– (start year disclosed) | Not disclosed in Fund filings |
| abrdn Inc. | Senior Product Manager—US | Current (year not specified; disclosed as “Currently”) | Not disclosed in Fund filings |
| The India Fund, Inc. (IFN) | Vice President (Fund Officer) | Since 2022 | Officer role for the Fund; functional details not disclosed |
External Roles
No external public company board roles or committee positions are disclosed for Marsico in IFN’s proxy statements; officer biographies list abrdn Inc. positions and do not indicate external directorships for him .
Fixed Compensation
| Element | Disclosure | Notes |
|---|---|---|
| Base salary | Not disclosed | Officers of the Fund do not receive compensation directly from the Fund . |
| Target bonus % | Not disclosed | Not disclosed in proxy . |
| Actual bonus | Not disclosed | Not disclosed in proxy . |
| Perquisites | Not disclosed | Not disclosed in proxy . |
Officers are employed by service providers (e.g., abrdn Inc.) and not compensated by IFN directly; the Fund does not provide officer compensation tables in its DEF 14A .
Performance Compensation
| Incentive Type | Metric(s) | Weighting | Target | Actual | Payout | Vesting/Terms |
|---|---|---|---|---|---|---|
| Annual cash incentive | Not disclosed | N/A | N/A | N/A | N/A | Not disclosed |
| Equity awards (RSUs/PSUs) | Not applicable at Fund level | N/A | N/A | N/A | N/A | The Fund does not grant equity to officers; no officer compensation paid by IFN |
| Options | Not applicable at Fund level | N/A | N/A | N/A | N/A | Not applicable |
No performance metrics, targets, or payout outcomes for Marsico are disclosed by the Fund. Officers’ pay practices (if any) are determined by their employer (abrdn Inc.) and are not reported by IFN .
Equity Ownership & Alignment
| As-of Date | Filing/Source | Direct Shares | Indirect Shares | Derivatives | Notes |
|---|---|---|---|---|---|
| 03/10/2022 | Form 3 (initial officer filing) | 0 | 0 | 0 | “No securities are beneficially owned.” Filed for role: Vice President . |
| 04/01/2025 | DEF 14A (narrative) | — | — | — | The proxy states that no director or executive officer, individually, owned more than 1% of the Fund’s common stock; individual officer holdings are not itemized . |
Additional alignment and trading policies:
- Section 16 compliance: The Fund reports all “Reporting Persons” (officers/directors/10% owners) timely filed required reports for FY 2024 .
- Personal trading/code of ethics: The Fund has a Rule 17j-1 personal trading Code of Ethics and Access Person Code emphasizing fiduciary duty, blackout periods, and reporting of personal securities transactions; violations can result in disciplinary action. These codes apply to officers and Board members (or to service providers’ personnel under their own codes) .
- Hedging/pledging: The Fund’s filings reviewed do not disclose a specific anti-pledging policy for officers. Personal trading restrictions and blackout periods are disclosed in the codes of ethics .
Sourcing note: We identified Marsico’s Form 3 (03/10/2022) and reviewed IFN DEF 14A disclosures in 2024 and 2025; no Form 4 by Marsico was located in the IFN filings returned by the tool. The 2025 proxy provides only aggregate statements (no >1% holdings by any director or executive officer) without officer-level counts .
Employment Terms
| Term | Disclosure |
|---|---|
| Employment start date with IFN (officer) | Officer since 2022 . |
| Contract term/expiration | Not disclosed in Fund filings. No Item 5.02 8-K regarding Marsico’s appointment was found in the IFN set queried. |
| Severance / change-of-control | Not disclosed in Fund filings. |
| Non-compete / non-solicit | Not disclosed in Fund filings. |
| Clawback | Not disclosed for compensation; separate personal trading codes include disciplinary sanctions for violations . |
| Garden leave / consulting | Not disclosed. |
Sourcing note: We searched IFN proxies and 8-Ks (including Item 5.02) for officer appointment or employment agreements for Marsico and did not identify such disclosures; officer biographies and code-of-ethics materials provide role and conduct standards but no employment economics .
Investment Implications
- Alignment and selling pressure: Marsico reported no IFN share ownership at appointment (Form 3), and IFN’s 2025 proxy indicates no director or executive officer individually exceeds 1% ownership; there is no evidence of equity awards from the Fund. This suggests limited direct, reportable exposure to IFN shares and low insider selling pressure tied to vesting events .
- Pay-for-performance visibility: The Fund does not disclose officer compensation (cash or equity), metrics, or payout outcomes; thus, there is no Fund-level line of sight into Marsico’s incentive levers or vesting schedules (any such incentives would sit within abrdn Inc.) .
- Retention risk: Retention terms (severance, change-in-control protection, non-compete) are not disclosed for Fund officers. Retention dynamics likely hinge on abrdn Inc. employment arrangements, which are not reported by IFN .
- Governance and trading signals: IFN maintains personal trading codes of ethics with blackout periods and reporting/discipline, and the Fund reports timely Section 16 filings for FY 2024—factors that reduce the likelihood of opportunistic insider trading signals from officers .
References
- Officer biography and tenure; year of birth: “Michael Marsico … Vice President since 2022 … Senior Product Manager—US … Year of Birth: 1980 … joined abrdn in 2014” .
- Officer compensation at Fund level not paid/disclosed: “Officers … do not receive any compensation directly from the Fund” .
- Ownership: Form 3 reports “No securities are beneficially owned” (03/10/2022) ; 2025 proxy notes no director or executive officer individually >1% ownership (as of Apr 1, 2025) .
- Codes of Ethics (personal trading): Rule 17j-1 code and Access Person conduct/blackout/reporting provisions .
- Section 16 filings compliance for FY 2024: “timely filed all reports” .