Michael Marsico
About Michael Marsico
Michael Marsico is Vice President of abrdn World Healthcare Fund (THW) and an officer of the abrdn Healthcare closed‑end fund complex. He has served as Vice President of the Funds since 2025 and is currently Senior Product Manager—US at abrdn; he joined abrdn Inc. in 2014 (Year of Birth: 1980) . As an officer, he is employed by abrdn (the Investment Adviser/Administrator), and the Funds disclose that officers are compensated by abrdn or an affiliate rather than by the Funds themselves; no officer‑level performance metrics or pay details are provided in the proxy . Initial Forms 3 filed March 20, 2025 report no beneficial ownership of THW (and the related funds HQH/HQL/THQ) by Marsico .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| abrdn Inc. | Senior Product Manager—US | 2014–present | Product management and governance for U.S. funds within abrdn’s fund complex . |
| abrdn World Healthcare Fund (THW) | Vice President (Fund officer) | 2025–present | Fund officer role across the abrdn Healthcare funds complex (HQH/HQL/THQ/THW) . |
| abrdn Japan Equity Fund (JEQ) | Vice President (Fund officer) | 2022–present | Officer role supporting governance and product oversight for JEQ . |
External Roles
- No external public company directorships or committee roles are disclosed for Marsico in the THW proxy’s Officers section .
Fixed Compensation
| Component | Fund-Level Disclosure | Notes |
|---|---|---|
| Base Salary | Not disclosed by THW | All officers are employees of and compensated by abrdn Inc. or an affiliate; no compensation is paid by the Funds to executive officers who are also officers/directors of abrdn . |
| Target/Actual Bonus | Not disclosed by THW | The Funds state they have no bonus, profit sharing, pension, or retirement plans (context applies to Fund-level programs; officer compensation is at abrdn) . |
| Pension/Retirement | None at Fund level | “None of the Funds have any bonus, profit sharing, pension or retirement plans” . |
| Perquisites/Other | Not disclosed | No officer perquisite detail is provided in the proxy . |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed in Fund filings | N/A | N/A | N/A | N/A | N/A |
- The proxy provides no officer performance metric framework (e.g., revenue/EBITDA/TSR) or award outcomes for Marsico; officer compensation resides with abrdn, not the Funds .
Equity Ownership & Alignment
| Entity | Security | Beneficial Ownership | Source |
|---|---|---|---|
| abrdn World Healthcare Fund (THW) | Common Shares | None (Form 3 filed 03/20/2025) | SEC Form 3 shows “No securities are beneficially owned” . |
| abrdn Healthcare Investors (HQH) | Common Shares | None (Form 3 filed 03/20/2025) | SEC Form 3 shows “No securities are beneficially owned” . |
| abrdn Life Sciences Investors (HQL) | Common Shares | None (Form 3 filed 03/20/2025) | SEC Form 3 shows “No securities are beneficially owned” . |
| abrdn Healthcare Opportunities Fund (THQ) | Common Shares | None (Form 3 filed 03/20/2025) | SEC Form 3 shows “No securities are beneficially owned” . |
- As of April 1, 2025, each Fund’s Trustees and officers, in aggregate, owned less than 1% of that Fund’s outstanding equity securities .
- Pledging/Hedging: With no beneficial ownership reported on initial Forms 3, there is no indication of pledged or hedged shares for Marsico in THW or related funds .
Employment Terms
| Term | Disclosure |
|---|---|
| Employer/Status | Officer employed by abrdn Inc. (Investment Adviser/Administrator), not by the Fund; officers receive no compensation from the Funds . |
| Current Fund Role Start | Vice President of the Funds since 2025 . |
| Prior abrdn Tenure | Joined abrdn Inc. in 2014 . |
| Officer Term | Officers hold positions until a successor has been duly elected and qualifies; officers are appointed annually at a Fund Board meeting . |
| Non‑compete/Non‑solicit | Not disclosed in Fund filings . |
| Severance/Change‑of‑Control | Not disclosed in Fund filings; such terms, if any, would be at the abrdn employment level, not the Fund . |
| Clawback/Tax Gross‑ups | Not disclosed in Fund filings . |
| Section 16 Compliance | Power of Attorney executed (01/24/2022) authorizing EDGAR Section 16 filings on his behalf for affiliated funds . |
Investment Implications
- Direct alignment via THW equity appears limited: Marsico reported no beneficial ownership of THW (and HQH/HQL/THQ) on initial Forms 3, and aggregate officer/trustee ownership across each Fund is under 1%, reducing direct share‑price alignment from personal holdings .
- Insider selling pressure risk is low near‑term: With no beneficial ownership reported, there is no current overhang from potential insider sales by Marsico in THW absent future acquisitions .
- Pay‑for‑performance analysis is not possible at the Fund level: Officer pay is set and paid by abrdn, and the proxy does not provide base/bonus/equity structure, metrics, targets, or outcomes; investors cannot assess incentive alignment or retention hooks from Fund filings alone .
- Role continuity tied to adviser: Officers are abrdn employees appointed annually by the Board; changes in adviser arrangements or abrdn organizational shifts could affect roles more than Fund‑level governance would (abrdn became adviser in Oct 2023) .