Sharon Ferrari
About Sharon Ferrari
Sharon Ferrari is Treasurer and Chief Financial Officer of The India Fund, Inc. (NYSE: IFN). She was appointed CFO/Treasurer effective February 28, 2023, after serving as a Fund officer since 2013; she is currently Director, Product Management at abrdn Inc. and joined abrdn as a Senior Fund Administrator in 2008 . Year of birth: 1977 . For compensation and performance alignment, IFN’s proxy states officers do not receive compensation directly from the Fund; detailed salary/bonus/equity metrics are not disclosed at the Fund level .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| The India Fund, Inc. (IFN) | Assistant Treasurer | Since 2013 | Operational fund administration support; officer elected annually |
| The India Fund, Inc. (IFN) | Vice President | Since 2013 (as of 2022 AR) | Product governance/administration; officer elected annually |
| The India Fund, Inc. (IFN) | Treasurer & Chief Financial Officer | Since 2023 | Principal Financial Officer oversight of financial reporting and controls |
| abrdn Inc. | Senior Fund Administrator | Joined 2008 | Fund operations and administration for US closed-end funds |
| abrdn Inc. | Senior Fund Administration Manager | As of 2018 | Expanded oversight within fund administration |
| abrdn Inc. | Senior Product Manager – US | As of 2022 | Product management for registered investment companies |
| abrdn Inc. | Director, Product Management | As of 2025 | Leads product management and governance initiatives across US funds |
External Roles
| Registrant | Role | Since | Notes |
|---|---|---|---|
| abrdn Healthcare Investors | Treasurer and Chief Financial Officer | 2023 | Also Principal Financial Officer; signs N-CSR as PFO |
| abrdn Global Infrastructure Income Fund | Treasurer and Chief Financial Officer | 2023 (Fund Officer since 2020) | Agent for service; signs N-CSR as PFO |
| Multiple abrdn funds (Fund Complex) | Officer across fund complex | Various | IFN proxy notes officers may hold positions in one or more funds in the complex |
Fixed Compensation
- Officers (including Treasurer/CFO) “do not receive any compensation directly from the Fund” (no base salary, bonus, or equity paid by IFN; reimbursements limited to reasonable out-of-pocket travel expenses) .
- As a result, the proxy does not disclose base salary, target bonus, actual bonus, or Fund-paid perquisites for Ms. Ferrari .
Performance Compensation
- No equity awards (RSUs/PSUs/options) or Fund-specific performance-based compensation are disclosed or paid by IFN to officers; compensation is paid by abrdn Inc., not the Fund .
- Vesting schedules, performance metric weighting, targets, payouts, clawbacks, tax gross-ups, and severance/change-of-control terms tied to IFN are not disclosed in IFN’s proxy for officers .
Equity Ownership & Alignment
| Metric | Value | Notes |
|---|---|---|
| Officer share ownership disclosure | Not individually disclosed | IFN proxy provides director ownership ranges but does not tabulate officer-level holdings individually |
| Directors and executive officers as a group | Less than 1% of outstanding shares | “No Director or executive officer… nor the Directors and executive officers as a group, represented more than 1%” as of April 1, 2025 |
| 5%+ beneficial owners | None as of April 1, 2025 | No persons deemed beneficial owners of 5%+ at that date |
- Pledging/hedging: No pledging or hedging disclosures for Ms. Ferrari appear in IFN proxy; not disclosed .
- Ownership guidelines: Not disclosed for officers in IFN proxy .
Employment Terms
- Appointment and tenure: Executive officers, including Treasurer/CFO, are chosen annually and hold office until the next year and until successors are chosen and qualified; Ms. Ferrari has served as a Fund officer since 2013 and Treasurer/CFO since 2023 .
- Effective date of CFO/Treasurer appointment: February 28, 2023 (upon prior CFO/Treasurer’s retirement) .
- Contracts, severance, and change-of-control: No employment agreement terms, severance multiples, or change-of-control provisions are disclosed at the Fund level for officers .
- Non-compete/non-solicit/garden leave/consulting: Not disclosed in IFN proxy for officers .
- Section 16 reporting: Fund indicates all Reporting Persons timely filed required ownership reports during fiscal year ended December 31, 2024 .
Governance Context Relevant to Role
- Board meetings and oversight: The Board held five regular and two special meetings in FY2024; Directors attended at least 75% of meetings, and the Audit Committee convened five times (Mr. Porter designated “audit committee financial expert”)—context for CFO reporting cadence and audit interaction .
- Auditors and independence: KPMG as independent auditor; audit fees and non-audit services reviewed under pre-approval policies, implying established audit controls CFO must coordinate .
Investment Implications
- Pay-for-performance alignment: Because IFN does not compensate officers directly, traditional corporate pay-for-performance levers (cash/equity mix, PSUs, option grants, vesting gates) do not signal alignment or pressure at the Fund level; insider selling pressure via Fund equity awards is not a factor for Ms. Ferrari .
- Retention risk: Role stability appears high—continuous Fund officer tenure since 2013, broader cross-fund CFO responsibilities since 2023, and abrdn employment since 2008—suggesting institutional continuity rather than near-term turnover risk .
- Trading signals: Lack of Fund-level officer equity grants and absence of disclosed pledging/hedging reduce typical insider-driven signals; monitor Section 16 filings and 8-K Item 5.02 for any future changes in officer appointments, but current filings show timely reporting and no 5% beneficial owners as of April 1, 2025 .
- Execution risk: CFO responsibilities span multiple abrdn closed-end funds, implying standardized controls and reporting processes; audit committee engagement and KPMG oversight further mitigate reporting risk, though detailed compensation incentives that could bias reporting are not Fund-level features .