XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) announced that its Board has approved, subject to shareholder approval, the appointment of Rockford Tower Asset Management, an affiliate of King Street Capital Management, as the new investment sub-adviser.
Personnel responsible for day-to-day portfolio management will be Young Choi and Terry Ing of King Street.
Current sub-adviser Octagon Credit Investors will resign on or about July 30, 2026, which is also the expected date for a special shareholder meeting.
The investment adviser XA Investments remains and the fee stays at 1.70%. No incentive fees will be paid.
Investment objectives remain unchanged, focusing on total return with income emphasis. At least 80% of assets will be invested in floating rate instruments.
The trust's name will be updated to XAI Floating Rate & Alternative Income Trust.
This report is not a proxy solicitation. Shareholders should read the forthcoming proxy statement.
This article was published by Bond.az.
