Octagon urges XFLT shareholders to vote against new sub-adviser appointment

Reuters2026/07/27 12:31

By:Reuters

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Octagon Credit Investors urged XAI Floating Rate & Alternative Income Trust shareholders to vote against appointing a new sub-adviser at the July 30, 2026 special meeting.
Octagon, the fund’s investment manager and sub-adviser since 2017, framed the vote as a challenge to replace it despite what it called outperformance.
Octagon pushed a “better path” plan featuring lower management fees, steps to narrow the discount to NAV, and a significant tender offer.
Octagon criticized XA Investments and the board for backing the sub-adviser change while not proposing fee cuts or a tender offer.
Octagon said the proposed shift would increase XA Investments’ share of management fees, calling it misaligned with shareholder interests.

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 Business Wire (Ref. ID: 20260727999811) on July 27, 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.

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Octagon urges XFLT shareholders to vote against new sub-adviser appointment

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