XAI Floating Rate & Alternative Income Trust seeks shareholder approval to replace terminated sub-adviser with King Street unit
XFLT•Shareholder vote set for July 30, 2026
XA Investments is seeking shareholder approval to replace terminated sub-adviser Octagon with King Street’s Rockford Tower at a July 30, 2026 meeting.
- The manager blamed Octagon’s investment decisions for a 54% decline in net asset value since inception.
- The board said King Street could lift distributions and performance within the fund’s mandate, with no increase in fees.
- The manager warned a vote against the proposal would not reinstate Octagon, leaving the fund without a permanent sub-adviser.
