The
Board believes that each Trustee’s experience, qualifications, attributes, or skills on an individual basis and in combination with
those of other Trustees lead to the conclusion that each Trustee should serve in such capacity. Among the attributes or skills common
to all Trustees are their ability to review critically and to evaluate, question, and discuss information provided to them, to interact
effectively with the other Trustees, the Adviser, the sub-administrator, other service providers, counsel, and the Fund’s independent
registered public accounting firm, and to exercise effective and independent business judgment in the performance of their duties as Trustees.
Each Trustee’s ability to perform his or her duties effectively has been attained in large part through the Trustee’s business,
consulting, or public service positions and through experience from service as a member of the Board and one or more of the other funds
in the Fund Complex, public companies, non-profit entities, or other organizations as set forth above and below. Each Trustee’s
ability to perform his or her duties effectively also has been enhanced by education, professional training, and other experience.
Independent
Trustees/Nominees
Calgary
Avansino. Ms. Avansino was CEO of Glamcam from 2018-2020, a social commerce app focusing on the Gen
Z market. She also began serving on the Boards of Trustees of the Cate School in 2017 and the E.L. Wiegand Foundation in 2018, and is
a member of the Common Sense Media Advisory Council beginning in 2019. Previously, beginning in 2014, she was a Contributing Vogue Editor
in order to launch her eponymous wellness company, and in 2016, she published the nutrition book entitled Keep It Real,
launched a website, and was a prolific public speaker on wellness trends. From 2009-2013, Ms. Avansino was Executive Fashion Director
and Digital Project Director at British Vogue. Ms. Avansino is a graduate of Cate Preparatory School ’93 and Georgetown University
’98, with a major in English Literature and a minor in Women’s Studies.
James
P. Conn. Mr. Conn is the Lead Independent Trustee of the Fund and a member of the Fund’s ad
hoc Proxy Voting and ad hoc Pricing Committees. He serves on
comparable or other board committees with respect to other funds in the Fund Complex on whose boards he sits. He was a senior business
executive of Transamerica Corp., an insurance holding company, for much of his career, including service as Chief Investment Officer.
Mr. Conn has been a director of several public companies in banking and other industries, and was lead director and/or chair of various
committees. He received his Bachelor’s degree in Business Administration from Santa Clara University.
Vincent
D. Enright. Mr. Enright is Chairman of the Fund’s Audit and Nominating Committees, a member of
the Fund’s ad hoc Proxy Voting Committee, and a member of both multi-fund ad hoc
Compensation Committees. He has been designated as the Fund’s Audit Committee Financial Expert.
He serves on comparable or other board committees with respect to other funds in the Fund Complex on whose boards he sits. Mr. Enright
was a senior executive and Chief Financial Officer of KeySpan Corp., an energy public utility, for four years. Mr. Enright is a former
director of a therapeutic and diagnostic company and served as Chairman of its compensation committee and as a member of its audit committee.
He is a former director of a pharmaceutical company and a diversified manufacturing company. Mr. Enright received his Bachelor’s
degree from Fordham University and completed the Advanced Management Program at Harvard University.
Leslie
F. Foley. Ms. Foley is an attorney currently serving on the Boards of the Addison Gallery of American
Art at Phillips Academy Andover. She serves on the boards of other funds in the Gabelli Fund Complex. Ms. Foley was previously Vice
President, Global Ethics & Compliance and Associate General Counsel for News Corporation. She also served in the White House Counsel’s
Office as Associate Counsel to President George W. Bush. Earlier in her career, Ms. Foley served as Counsel for O’Melveny and Myers
LLP; Managing Director of Fixed Income Legal at Bear, Stearns & Co. Inc.; associate at Dewey Ballantine LLP; and law clerk to Judge
Diarmuid F. O’Scannlain of the United States Court of Appeals for the Ninth Circuit. She graduated from Yale University magna
cum laude and from the University of Virginia School of Law where she was an editor of the Virginia
Law Review.
Michael
J. Melarkey, Esq. Mr. Melarkey, after more than forty years of experience as an attorney specializing
in business, estate planning, and gaming regulatory work, retired from the active practice of law. He was Chairman of the board of Southwest
Gas Corporation and serves on its Nominating and Audit, Corporate Governance, and Compensation Committees. Mr. Melarkey acts as a trustee
and officer for several private charitable organizations including as a trustee of La Chiave Foundation and The E. L. Wiegand Foundation.
Mr. Melarkey received his Bachelor’s degree from the University of Nevada, Reno, Juris Doctor from the University of San Francisco
School of Law and Masters of Law in Taxation from New York University School of Law.
Eileen
Cheigh Nakamura Ms. Nakamura is a retired executive with more than 30 years of experience in the
finance and health care industries. Ms. Nakamura held senior management positions at Pfizer, Inc., most recently serving as
