Lucia Sitar
About Lucia Sitar
Lucia Sitar (Year of Birth: 1971) serves as Vice President of abrdn World Healthcare Fund (THW) and the affiliated healthcare funds; she has been Vice President since 2023 and is Vice President and Head of Product Management and Governance for abrdn Inc. since 2020, previously serving as Managing U.S. Counsel and joining abrdn in July 2007 . She is frequently designated as attorney-in-fact on Section 16 filings for fund officers, evidencing a compliance and governance role within the fund complex . Fund-level performance metrics (TSR, revenue/EBITDA growth) are not attributed to individual officers in THW proxies or filings; the funds disclose shares outstanding and governance matters but not officer-specific performance results .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| abrdn Inc. | Head of Product Management & Governance (U.S.) | 2020–present | Leads product management and governance across registered investment companies in the U.S. . |
| abrdn Inc. | Managing U.S. Counsel | Pre-2020 | Senior legal leadership for U.S. operations . |
| abrdn Inc. | U.S. Counsel | Joined July 2007 | Legal counsel for abrdn’s U.S. business . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| THW and affiliated abrdn funds | Vice President of the Funds | Since 2023 | Officer role across multiple abrdn funds in the complex . |
| THW and affiliated abrdn funds | Attorney-in-Fact on Section 16 filings | 2023–2025 | Executes Forms 3/4/5 for reporting persons across the fund complex, enhancing compliance efficiency . |
| abrdn funds (multiple) | Authorized Representative on Joint Fidelity Bond agreement | 2025 | Executed Rule 17g-1 fidelity bond agreement for multiple funds, supporting governance and risk controls . |
| HQH/HQL/THQ/THW | Named proxy holder in joint proxy statements | 2025 | Appointed to vote shares at annual meetings, evidencing operational trust and governance involvement . |
Fixed Compensation
THW (and the affiliated healthcare funds) do not pay cash or equity compensation to fund officers; officers are employees of and compensated by abrdn Inc. or affiliates.
| Component (THW fund-paid) | FY 2023 | FY 2024 |
|---|---|---|
| Base Salary (fund-paid) | $0 | $0 |
| Bonus (fund-paid) | $0 | $0 |
| Equity/Option Awards (fund-paid) | $0 | $0 |
| Pension/Retirement Plans (fund level) | None | None |
Notes: “All officers of the Funds are employees of and are compensated by abrdn Inc., the Funds’ administrator, or an affiliate. None of the Funds’ executive officers…received any compensation from any Fund.” and “None of the Funds have any bonus, profit sharing, pension or retirement plans.” .
Performance Compensation
THW does not disclose fund-paid performance incentives for officers; there are no fund-level RSU/PSU/option programs or performance metric weightings tied to officer pay.
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| None (no fund-based incentive program for officers) | N/A | N/A | N/A | N/A | N/A |
Equity Ownership & Alignment
Officer-specific beneficial ownership for Lucia Sitar in THW is not disclosed in the proxy or Section 16 filings; she appears as attorney-in-fact signing others’ filings rather than as a reporting person herself . Aggregate insider ownership is de minimis, which indicates limited direct officer alignment via THW equity at the fund level.
| Metric | As of Apr 1, 2024 | As of Apr 1, 2025 |
|---|---|---|
| Trustees and officers aggregate ownership (% of outstanding) | <1% | <1% |
| THW shares outstanding (record date context) | — | 39,849,957.6 |
Additional observations:
- Multiple officer Form 3s filed in March 2025 (Hasson, Gebauer, Taggart) show “No securities are beneficially owned,” signed “/s/ Lucia Sitar by POA,” reinforcing low officer holdings and Sitar’s compliance role .
- No pledging/hedging disclosures for officers are provided in the proxy materials .
Employment Terms
- Officers hold their positions until a successor is duly elected and qualified; officers are appointed annually at a meeting of the Fund Board .
- Compensation, employment contracts, severance, change-of-control, non-compete, non-solicit, garden leave, consulting arrangements, clawbacks, and tax gross-ups for officers are not disclosed by THW because officers are compensated by abrdn Inc. rather than the fund .
- Sitar’s power-of-attorney role enables execution and filing of Forms 3/4/5 for Section 16 reporting persons across the fund complex, evidencing governance/compliance authority .
Additional Governance and Compliance Context
- Delinquent Section 16(a) reports: The funds reported a late Form 4 for officer Alan Goodson (open-market purchase of HQH) and a one-day late Form 4 for trustee Kathleen Goetz (open-market purchases in HQH/HQL/THQ/THW) due to an adviser administrative oversight, indicating generally strong but not perfect compliance processes .
- abrdn assumed responsibility for management of the funds on October 27, 2023 (transition from Tekla), with board refresh and governance updates documented in the proxies .
- Sitar executed the 17g-1 joint fidelity bond agreement for numerous funds, supporting risk management and controls at the fund complex .
Investment Implications
- Pay-for-performance alignment at the fund level is minimal for officers, as THW does not pay officer cash/equity compensation or operate fund-based incentive programs; this limits direct alignment through fund compensation levers .
- Insider selling pressure appears negligible: recent Form 3s for multiple officers list no beneficial ownership, and Sitar is an attorney-in-fact on these filings rather than a reporting person; aggregate insider ownership is <1% as of April 1, 2024 and April 1, 2025 .
- Retention risk for Sitar is not quantifiable from fund filings; however, her tenure at abrdn (since 2007) and expanded governance responsibilities (Head of Product Management & Governance since 2020, VP across funds since 2023, POA and fidelity bond signatory) suggest institutional continuity and reliance on her compliance/product governance expertise, rather than incentive-linked fund outperformance .
- Trading signals tied to individual executive incentives are limited: absence of officer fund-based compensation and lack of disclosed personal THW holdings reduce the probability of compensation-driven equity sales or buy signals in THW tied to Sitar’s activities .