Randi Roessler
About Randi Roessler
Randi Roessler (Year of Birth: 1981) serves as Chief Compliance Officer (CCO) of XAI Madison Equity Premium Income Fund (NYSE: MCN) since 2024 via a services arrangement with PINE Advisors; the Board, including a majority of Independent Trustees, approved her CCO designation and officers serve at the pleasure of the Board . She is a career compliance executive: Director at PINE Advisor Solutions since 2023 and former CCO at Davis Selected Advisers covering Davis Funds, Selected Funds, Clipper Fund Trust, the Davis Fundamental ETF Trust and Davis Distributors (2018–2023) . As context, MCN’s long-term total return track record to 5/31/2024: 10-year annualized NAV 6.46% and Price 8.39%; 5-year NAV 10.99% and Price 13.99%; 3-year NAV 6.08% and Price 6.02%; 1-year NAV 10.62% and Price 8.22%; inception-to-date annualized NAV 5.47% and Price 6.08% .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Davis Selected Advisers; Davis Funds, Selected Funds, Clipper Fund Trust, Davis Fundamental ETF Trust, Davis Distributors, LLC | Chief Compliance Officer | 2018–2023 | Led compliance programs across mutual funds and ETFs; oversight of policies, examinations, and regulatory reporting |
| PINE Advisor Solutions | Director | 2023–present | Provides outsourced fund compliance leadership; serves multiple registered funds as CCO |
External Roles
| Organization | Role | Years | Scope |
|---|---|---|---|
| Destra Investment Trust (2 portfolios) | Chief Compliance Officer | 2023–present | Fund-level compliance oversight |
| BlueBay Destra International & Event-Driven Credit Fund | Chief Compliance Officer | 2023–present | Fund-level compliance oversight |
| Destra Multi-Alternative Fund | Chief Compliance Officer | 2023–present | Fund-level compliance oversight |
| ONEFUND Trust | Chief Compliance Officer | 2023–present | Trust-level compliance oversight |
| Boston Trust Walden Funds (10 portfolios) | Chief Compliance Officer | 2023–present | Complex-wide compliance oversight |
| IDX Funds (2 portfolios) | Chief Compliance Officer | 2023–present | Fund-level compliance oversight |
Fixed Compensation
- Fund officers receive no compensation from the Fund; trustee fees are disclosed separately, but officer cash compensation is not paid by MCN . The CCO role is delivered via PINE Advisors under a Services Agreement; PINE receives an annual fee and reimbursement of out-of-pocket expenses, approved by the Board (CCO designation requires Board approval including a majority of Independent Trustees) .
Performance Compensation
- No equity grants (RSUs/PSUs), option awards, or performance-based incentive structures are disclosed for Fund officers; compensation is via the PINE Services Agreement rather than MCN equity/cash programs .
Equity Ownership & Alignment
| Metric | Value |
|---|---|
| Total beneficial ownership (MCN common shares) | None (0 shares) as of 12/31/2024 |
| Ownership as % of shares outstanding | Not disclosed for individuals; Trustees and officers as a group owned <1% as of 12/31/2024 (individual ownership “None”) |
| Vested vs. unvested shares | Not disclosed |
| Options (exercisable/unexercisable) | Not disclosed |
| Shares pledged as collateral | Not disclosed; ownership “None” |
| Stock ownership guidelines | Not disclosed |
Employment Terms
| Provision | Detail |
|---|---|
| Role and start | Chief Compliance Officer since 2024 |
| Engagement structure | Provided through PINE Advisors Services Agreement; PINE is paid an annual fee and expenses by the Fund |
| Appointment/approval | CCO designation must be approved by the Board, including a majority of Independent Trustees |
| Term/renewal | Officers serve at the pleasure of the Board until successors are appointed; specific term/auto-renewal not disclosed |
| Severance / Change-of-control | Not disclosed for officers in proxies reviewed |
| Non-compete / Non-solicit / Garden leave | Not disclosed |
| Clawbacks / Tax gross-ups / Perquisites | Not disclosed |
Performance & Track Record (Fund Context)
| Metric | 10-Year Annualized | 5-Year Annualized | 3-Year Annualized | 1-Year Annualized | Inception-to-Date Annualized |
|---|---|---|---|---|---|
| NAV Total Return | 6.46% | 10.99% | 6.08% | 10.62% | 5.47% |
| Price Total Return | 8.39% | 13.99% | 6.02% | 8.22% | 6.08% |
Additional trading context:
- Average daily trading volume over the last 12 months: 54,206 shares as of 5/31/2024 .
Board Governance (Fund-level Context)
- The Board appointed an independent chair (Gregory G. Dingens) and operates with Audit and Governance Committees composed solely of Independent Trustees; the CCO reports to the Independent Trustees and presents quarterly and annual compliance reports .
Investment Implications
- Alignment: No disclosed MCN share ownership by Roessler as of 12/31/2024, limiting direct equity alignment and implying minimal insider selling pressure from her position at that time .
- Pay-for-performance leverage: Officer compensation is not paid by MCN and is delivered through PINE’s Services Agreement; there are no disclosed MCN-linked equity awards or performance metrics for the CCO role, reducing traditional pay-for-performance levers at the Fund level for this officer .
- Retention and continuity: The CCO is designated via PINE and approved by the Board (majority Independent Trustees), suggesting continuity depends on the PINE engagement and Board oversight rather than individual employment contracts; no severance/change-of-control terms are disclosed for officers .
- Monitoring: Track future proxies for any change in officer ownership, modifications to the PINE Services Agreement, or any introduction of officer-level compensation disclosures, as these would affect alignment and retention risk .