ISS backs XFLT vote to approve King Street as sub-adviser ahead of July 30 shareholder meeting
XFLT•ISS recommends shareholders approve King Street sub-advisory agreement
ISS urged XAI Floating Rate & Alternative Income Trust shareholders to vote for a new sub-advisory agreement with King Street.
The recommendation targets the July 30 special shareholder meeting on the proposed King Street Sub-Advisory Agreement.
ISS cited board diligence on King Street’s capabilities, fees, and track record in comparable strategies.
The proxy adviser also flagged NAV erosion since inception, backing the switch to avoid disruption from rejecting the proposal.
