John Neuhauser
About John J. Neuhauser
Independent Trustee/Director of Liberty All-Star Equity Fund (ticker: USA) and Liberty All-Star Growth Fund since 1998; year of birth 1943; currently retired after serving as President of St. Michael’s College (2007–2018) and previously holding senior academic leadership roles at Boston College (University Professor 2005–2007; Academic Vice President and Dean of Faculties 1999–2005) . He is recognized in the proxy as having extensive investment management experience as an investment company trustee and executive management experience in higher education . In 2025, he is nominated for re‑election to the Equity Fund Board for a term ending in 2028 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| St. Michael’s College | President | 2007–2018 | Led a private college; executive leadership experience |
| Boston College | University Professor | 2005–2007 | Senior academic leadership |
| Boston College | Academic Vice President and Dean of Faculties | 1999–2005 | Oversight of academic operations |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| None disclosed | — | — | Proxy lists no other public company directorships for Neuhauser |
Board Governance
- Independence: All Trustees/Directors of both Funds are independent under the 1940 Act and NYSE standards; the Board Chair (Thomas W. Brock) is also independent .
- Committees: Member, Audit Committee (both Funds) . Chair, Nominating & Governance Committee (both Funds) .
- Meeting cadence and attendance: In FY2024, each Board held four meetings and the Audit Committees held four meetings; Neuhauser attended all meetings (only the Chair, Mr. Brock, missed one Audit Committee meeting in August 2024). None of the Trustees/Directors attended the 2024 annual shareholder meetings (no formal policy to do so) .
- Nominating & Governance Committee activity: Met twice in FY2024; charter last reviewed December 5, 2024 .
- Executive sessions: Independent Trustees/Directors hold at least one in‑person meeting annually with a portion without management present .
- Tenure: Trustee/Director since 1998 (Equity Fund term expiring 2025; Growth Fund term expiring 2027; nominee for new Equity Fund term to 2028) .
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Aggregate Compensation from Equity Fund ($) | $64,720 | $74,076 |
| Aggregate Compensation from Growth Fund ($) | $24,280 | $26,924 |
| Total Compensation from Fund Complex ($) | $89,000 | $101,000 |
Notes: The proxy states neither Fund has a bonus, profit sharing or retirement plan .
Performance Compensation
- No performance-based director compensation is disclosed; the proxy notes neither Fund has a bonus, profit sharing or retirement plan, and no equity or option awards are shown for directors .
Other Directorships & Interlocks
| Category | Details |
|---|---|
| Current public company boards | None disclosed for Neuhauser |
| Interlocks/overlaps with competitors/suppliers/customers | None disclosed |
| Prior public company boards | Not disclosed in the proxy |
Expertise & Qualifications
- The Board cites Neuhauser’s extensive investment management experience as an investment company trustee and executive management experience as a university president, vice president, dean, and professor .
- Financial literacy: All Audit Committee members (including Neuhauser) are deemed financially literate; Ms. Usifer designated Audit Committee financial expert .
Equity Ownership
| Metric | 2023 | 2024 |
|---|---|---|
| Equity Fund shares owned (count) | 18,448 | 20,841 |
| Growth Fund shares owned (count) | 3,057 | 3,345 |
| Dollar range owned – Equity Fund | $100,001–$500,000 | $100,001–$500,000 |
| Dollar range owned – Growth Fund | $10,001–$50,000 | $10,001–$50,000 |
| Aggregate dollar range across Funds | $100,001–$500,000 | $100,001–$500,000 |
Additional ownership/compliance context:
- Each Trustee/Director and all Trustees/Directors as a group owned less than 1% of outstanding shares of each Fund as of 12/31/2024 .
- As of 12/31/2024, no Independent Trustee/Director or their immediate family owned any class of securities of the Funds’ investment adviser or Portfolio Managers (or their parents/subsidiaries) .
- Section 16(a) reporting: All required filings for officers, Trustees/Directors, advisers/sub-advisers, affiliates, and >10% holders were in compliance as of 12/31/2024 .
Governance Assessment
- Positives
- Independence and oversight: Fully independent Board with an independent Chair; Neuhauser serves on the Audit Committee and chairs the Nominating & Governance Committee, indicating central involvement in audit oversight and board refreshment .
- Attendance and engagement: Full attendance in FY2024 across Board and Audit Committee meetings (only the Chair missed one Audit Committee session), suggesting strong director engagement; N&G met twice in FY2024 .
- Ownership alignment: Meaningful personal holdings in both Funds with a six-figure dollar range in the Equity Fund; incremental share accumulation versus 2023 .
- Conflict checks: No ownership of adviser/sub-adviser securities by independents; Section 16 compliance reported in order .
- Watch items / potential red flags
- Very long tenure (since 1998) can raise questions about ongoing independence and refreshment; however, he actively chairs the Nominating & Governance Committee, which partially mitigates refreshment concerns .
- No disclosure of equity-based or at‑risk director compensation; director pay appears predominantly cash-based, which may limit direct alignment with long-term shareholder outcomes, though this is common in closed‑end fund governance .
- None of the Trustees/Directors attended the 2024 annual shareholder meetings (no formal policy), a minor engagement optics issue .