Albin F. Moschner

About Albin F. Moschner

Independent Trustee of Nuveen Real Asset Income and Growth Fund (JRI) since 2016; telecom/technology operating executive and founder/CEO of Northcroft Partners, LLC (management consulting) since 2012. Born 1952; core credentials include senior operating roles at Leap Wireless (CMO, COO), Verizon Card Services (President), One Point Communications (President), and CEO of Zenith Electronics, with engineering degrees (B.E. Electrical Engineering, City College of New York; M.S. Electrical Engineering, Syracuse University). Designated an audit committee financial expert by the Board .

Past Roles

External Roles

Board Governance

• Independence: Not an “interested person” of the Funds or Nuveen/TIAA; never an employee/director of TIAA, Nuveen, or affiliates. Classified as an Independent Board Member .
• Election status for JRI: Nominee as Class III Trustee at 2025 Annual Meeting, for a term expiring at the 2027 annual meeting (subject to election) .
• Committee assignments:
  • Closed-End Fund Committee – Chair
  • Compliance, Risk Management and Regulatory Oversight Committee – Member
  • Nominating & Governance Committee – Member
  • Investment Committee – Member
  • Audit Committee – Not listed as a current member; designated as an “audit committee financial expert” by the Board
• Attendance: Each Board Member attended at least 75% of Board and committee meetings during the last fiscal year
• Board structure context: Unitary independent board across the Nuveen fund complex (enhances cross-fund oversight); Independent Chair: Robert L. Young .

JRI board and committee activity (last fiscal year):

Fixed Compensation

• Compensation structure (Independent Trustees):
  • 2023: $210,000 annual retainer plus per-meeting fees; committee chair retainers of $20,000; Board Chair $140,000
  • Effective Jan 1, 2024: $350,000 annual retainer; annual retainers for committee memberships ($30k Audit and Compliance, $20k Investment, $20k Dividend/Nominating/Closed-End), increasing again Jan 1, 2025 ($35k Audit/Compliance; $30k Investment; $25k Dividend/Nominating/Closed-End). Board Chair $150,000; committee chair retainers $25k–$35k depending on committee; ad hoc meeting fees $1,000–$2,500
  • No retirement/pension plans; optional deferred compensation plan available; distributions mirror selected Nuveen funds
• Actual fees paid (last fiscal year):
  • JRI (Real Asset) paid to A.F. Moschner: $1,475
  • Total compensation from funds in the Fund Complex to A.F. Moschner: $481,250
  • Deferred compensation: No deferred fees reported for A.F. Moschner in the plan table (blank entries for him)

Performance Compensation

• None. Independent Board Members do not receive performance-based bonuses, option/stock awards, or performance-linked metrics; compensation is retainer- and role-based (cash) per the fee schedules .

Other Directorships & Interlocks

• Current public company directorships: None disclosed in the past five years for A.F. Moschner (the “Other Directorships Held … During the Past Five Years” column lists only former roles) .
• Interlocks/conflicts: Appendix A list of board members with holdings in adviser-affiliated private vehicles lists only another trustee; no such affiliated-company holdings are shown for A.F. Moschner .

Expertise & Qualifications

• Designated audit committee financial expert (as defined by SEC) .
• Deep telecom/tech operating experience (Leap Wireless COO/CMO; Verizon Card Services President; Zenith Electronics CEO) .
• Engineering background (B.E. EE – City College of New York; M.S. EE – Syracuse University) .
• Oversees 218 portfolios in the fund complex, indicating broad closed-end fund governance exposure .

Equity Ownership

Board policy expects each Independent Board Member to invest at least the equivalent of one year of compensation in funds within the complex (direct or deferred) .

Additional complex-level context:

• Significant personal holdings in another Nuveen fund: Nuveen Floating Rate Income (JFR) – 34,519 shares; dollar range “Over $100,000” .

Governance Assessment

• Strengths:
  • Independent trustee with no TIAA/Nuveen affiliation; designated audit committee financial expert .
  • Committee leadership as Chair of the Closed-End Fund Committee (focus on discounts, leverage, issuance/repurchases) .
  • Active committee participation across Compliance/Risk, Nominating & Governance, and Investment committees; attendance ≥75% .
  • Section 16(a) compliance: Funds report Board Members complied with filing requirements in last fiscal year .
• Watch items / potential investor perception issues:
  • JRI-specific alignment: $0 ownership and 0 shares in JRI as of 12/31/2024, despite a board guideline to hold at least one year of compensation in the fund complex overall; while he holds meaningful stakes in other Nuveen funds, the absence of JRI shares may be viewed as weaker fund-level alignment .
  • Board workload/unitary structure: Oversees 218 portfolios; while providing cross-fund expertise, it can raise “board busyness” concerns; however, the unitary board is designed for efficiency and consistent oversight across shared service providers .

Overall: Experienced independent director and committee chair with strong financial and operating credentials and robust fund governance involvement; primary alignment gap is lack of direct JRI ownership, partially mitigated by policy emphasizing complex-level holdings .