XAI Floating Rate & Alternative Income Trust delays shareholder vote on sub-adviser transition
XFLT•Board adjourns special shareholder meeting
XAI Floating Rate & Alternative Income Trust’s board adjourned a special shareholder meeting, delaying a vote on a proposed sub-adviser transition.
Octagon Credit Investors criticized the delay, citing heavy solicitation efforts by the board and adviser XA Investments.
Octagon says delay suggests limited support
Octagon said the adjournment signals insufficient shareholder support for the new sub-adviser proposal.
Octagon urged shareholders to vote against the proposal, backing steps to narrow the discount to NAV and cut fees.
