• XAI is seeking shareholder backing on July 30, 2026 to install King Street as sub-adviser, replacing terminated sub-adviser Octagon.
• XAI says the change will not raise management fees or fund expenses for shareholders.
• The manager cites a roughly 54% NAV decline since inception under Octagon, implying $406.7 million of NAV erosion.
• XAI also points to benchmark underperformance of 19.09% over one year as of March 31, 2026.
• XAI says Octagon’s own CLO portfolio had seven CLO defaults in 2026, framing the switch as a performance-driven governance decision.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. XAI Floating Rate & Alternative Income Trust published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202607180830PRIMZONEFULLFEED9764340) on July 18, 2026, and is solely responsible for the information contained therein.