Company: GLU-PB
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0001133228-25-002915
Chunk: 13

Company: GABELLI GLOBAL UTILITY & INCOME TRUST
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 13
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 different from other Trustees. The Board has established a Nominating Committee and an Audit Committee to assist the
Board in the oversight of the management and affairs of the Fund. The Board also has an ad hocProxy Voting Committee that exercises
beneficial ownership responsibilities on behalf of the Fund in selected situations. From time to time, the Board establishes additional
committees or informal working groups, such as an ad hocPricing Committee related to securities offerings by the Fund to address
specific matters, or assigns one of its members to work with trustees or directors of other funds in the Fund Complex on special committees
or working groups that address fund

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complex-wide
matters, such as the multi-fund ad hocCompensation Committee relating to the compensation of the Chief Compliance Officer for
all the funds in the Fund Complex, and a separate multi-fund ad hocCompensation Committee relating to the compensation of certain
other officers of the closed-end funds in the Fund Complex.

All
of the Fund’s Trustees are Independent Trustees and the Board believes it is able to provide effective oversight of the Fund’s
service providers. In addition to providing feedback and direction during Board meetings, the Independent Trustees meet regularly in
executive session and chair all committees of the Board.

The
Fund’s operations entail a variety of risks, including investment, administration, valuation, and a range of compliance matters.
Although the Adviser, the sub-administrator, and the officers of the Fund are responsible for managing these risks on a day-to-day basis
within the framework of their established risk management functions, the Board also addresses risk management of the Fund through its
meetings and those of the committees and working groups. As part of its general oversight, the Board reviews with the Adviser at Board
meetings the levels and types of risks being undertaken by the Fund, and the Audit Committee discusses the Fund’s risk management
and controls with the independent registered public accounting firm engaged by the Fund. The Board reviews valuation policies and procedures
and the valuations of specific illiquid securities. The Board also receives periodic reports from the Fund’s Chief Compliance Officer
regarding compliance matters relating to the Fund and its major service providers, including results of the implementation and testing
of the Fund’s and such providers’ compliance programs. The Board’s oversight function is facilitated by management
reporting processes designed to provide visibility to the Board regarding the identification, assessment, and management of critical
risks, and the controls and policies and procedures used to mitigate those risks.