XAI Floating Rate & Alternative Income Trust terminates Octagon as sub-adviser, backs King Street replacement plan

Reuters2026/07/23 11:45

By:Reuters

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold. Trade now!

A welcome pack worth 6200 USDT for new users! Sign up now!

XAI Floating Rate & Alternative Income Trust’s manager pressed shareholders to back a new King Street sub-advisory agreement ahead of a July 30, 2026 vote.
Octagon Credit Investors was terminated as sub-adviser for poor performance, including seven CLO defaults in 2026 across its portfolio.
XAI cast the proxy fight as an alignment issue, citing zero XFLT shares held by Octagon’s CEO and CIO versus XAI leadership holdings.
The board urged votes in line with ISS support to avoid prolonged uncertainty over the fund’s sub-adviser.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. XAI Floating Rate & Alternative Income Trust published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202607230745PRIMZONEFULLFEED9766936) on July 23, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.

Trade now！

XAI Floating Rate & Alternative Income Trust terminates Octagon as sub-adviser, backs King Street replacement plan

You may also like

Crypto prices