Octagon urges XFLT shareholders to reject board-backed sub-adviser change - XFLT News | RalliesOctagon urges XFLT shareholders to reject board-backed sub-adviser change
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XFLT• Octagon challenges proposed sub-adviser change
- Octagon challenged the board’s push to replace it as sub-adviser, ahead of a July 30, 2026 shareholder vote on a new sub-advisory agreement.
- Octagon argued its asset-level returns have matched or beaten benchmarks, blaming the fund’s discount to NAV on board decisions.
- It cited an “excessively high” fee structure, distribution cuts, and a “risky” capital structure as key drivers of weak shareholder outcomes.
- Octagon urged shareholders to vote against the new sub-adviser proposal, framing the move as benefiting adviser XA Investments.
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