Octagon urges XFLT shareholders to vote against new sub-adviser appointment
XFLT•Octagon pitches alternative plan
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. It said the proposed shift would increase XA Investments’ share of management fees, calling it misaligned with shareholder interests.
Octagon urges vote against sub-adviser change
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.
