• Octagon, XFLT’s long-time sub-adviser since 2017, urged shareholders to vote against replacing it with Rockford Tower at a July 30, 2026 special meeting.
• Octagon argued Rockford Tower lacks closed-end fund experience; cited instability at parent King Street, including senior partner departures and investor withdrawals.
• Octagon said the proposed change would shift more fee economics to adviser XA Investments via a discounted sub-advisory fee.
• Octagon pushed an alternative plan centered on a management fee cut to 1.3% from 1.7% and steps to narrow the fund’s discount to NAV.
• Octagon sought to replace the current structure by becoming the adviser, removing the sub-adviser role, alongside board changes.

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 Business Wire (Ref. ID: 20260720229052) on July 20, 2026, and is solely responsible for the information contained therein.