Erich Rettinger
About Erich Rettinger
Erich Rettinger (born 1985) is the Fund’s Principal Financial Officer and has served as Treasurer of Principal Real Estate Income Fund (PGZ) since December 2021; he is a Vice President of ALPS Advisors, Inc. (since 2021) and also serves as President of ALPS Variable Investment Trust, with prior treasury roles across multiple registered funds . PGZ’s proxy does not disclose education, nor individual officer performance metrics (e.g., TSR, revenue/EBITDA growth) tied to compensation; officers employed by ALPS receive no compensation from the Fund .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| ALPS Advisors, Inc. | Vice President | 2021–present | Investment and fund oversight via ALPS; senior finance role supporting Fund operations |
| ALPS Variable Investment Trust | Treasurer | Mar 2021–Mar 2024 | Treasury and financial controls for registered investment company |
| ALPS Variable Investment Trust | President | Current (as of 2025) | Executive oversight of trust operations |
| RiverNorth Opportunities Fund, Inc. | Treasurer | Dec 2021–Oct 2022 | Treasury and financial reporting oversight |
| ALPS Fund Services, Inc. | Vice President & Fund Controller | 2013–2021 | Fund controller responsibilities and financial reporting leadership |
External Roles
| Organization/Fund | Role | Years | Notes |
|---|---|---|---|
| Liberty All-Star Equity Fund | Treasurer | Current | Officer role across affiliated registered fund |
| Liberty All-Star Growth Fund, Inc. | Treasurer | Current | Officer role across affiliated registered fund |
| ALPS Variable Investment Trust | President | Current | Executive role across affiliated registered trust |
| RiverNorth Opportunities Fund, Inc. | Treasurer | Dec 2021–Oct 2022 | Former officer role |
Fixed Compensation
- Officers employed by ALPS or ALPS Advisors “receive no compensation or expense reimbursement from the Fund,” so PGZ does not report base salary, target bonus, or cash compensation for Mr. Rettinger at the Fund level .
- PGZ does not have a compensation committee; officer compensation is not set or overseen at the Fund level .
| Component | Amount/Terms |
|---|---|
| Fund-paid cash compensation | None; officers employed by ALPS/ALPS Advisors receive no compensation from PGZ |
| Base salary (Fund) | Not applicable (paid by employer, not disclosed by PGZ) |
| Target/actual bonus (Fund) | Not applicable (paid by employer, not disclosed by PGZ) |
Performance Compensation
- PGZ’s proxy does not disclose any performance-based compensation design, metrics, weightings, or payouts for Fund officers; compensation, if any, is determined by ALPS Advisors as the employer and not reported by PGZ .
Equity Ownership & Alignment
| As-of Date | Shares Owned | Ownership % of PGZ | Vested vs. Unvested | Options (Exercisable/Unexercisable) | Shares Pledged |
|---|---|---|---|---|---|
| Dec 31, 2024 | None (0) | <1% for officers as a group; Mr. Rettinger individually: None | Not applicable (no holdings) | Not disclosed by PGZ | No pledging disclosed |
- PGZ reports beneficial ownership for Trustees and executive officers; Mr. Rettinger reported “None” and thus has no immediate insider selling pressure or hedging/pledging red flags disclosed at the Fund level .
Employment Terms
| Item | Detail |
|---|---|
| Fund Officer Title | Treasurer; Principal Financial Officer |
| Start Date (Treasurer) | December 2021 |
| Term/Election | Officers are elected annually and serve until a successor is elected |
| Severance / Change-of-Control | Not disclosed by PGZ (Fund-level officer compensation and contracts are not reported) |
| Non-compete / Non-solicit / Garden leave | Not disclosed by PGZ |
| Clawbacks / Tax gross-ups | Not disclosed by PGZ |
Investment Implications
- Alignment: No PGZ share ownership and no Fund-paid compensation for Mr. Rettinger limits direct pay-for-performance alignment signals at the Fund level; any incentives reside with ALPS Advisors and are not disclosed by PGZ .
- Retention risk: Officers are elected annually by the Board; retention and compensation terms are employer-driven at ALPS Advisors, reducing Fund-level visibility into severance/change-of-control protections or lock-in incentives .
- Governance/controls: PGZ does not have a compensation committee, consistent with many closed-end funds; Board oversight occurs via Audit/Nominating/QLCC committees, but officer pay structures are outside Fund governance, minimizing compensation-driven trading signals tied to PGZ filings .
- Trading signals: With no holdings disclosed for Mr. Rettinger and no Form 4 activity reflected in PGZ’s proxy disclosures, there are no executive-specific insider trading pressure indicators; shareholder activism and trustee-level governance tend to be more relevant drivers for PGZ than officer compensation dynamics .