Octagon urges XFLT shareholders to reject sub-adviser switch, calls for management fee cut to 1.3%

• Octagon escalated its campaign against XAI Floating Rate & Alternative Income Trust’s board over a proposed sub-adviser change.
• Octagon argued the fund has delivered about 40% total NAV return since inception, criticizing the board’s focus on a NAV measure excluding distributions.
• It said ISS called the board’s process “not unreasonable” and “not indefensible,” without backing the adviser switch as a value-creation step.
• Octagon proposed cutting the management fee to 1.3% from 1.7%, paired with actions to narrow the discount to NAV.
• It urged shareholders to vote against the new sub-adviser, pushing Octagon as primary adviser to reduce disruption.

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: 20260722780892) on July 22, 2026, and is solely responsible for the information contained therein.