X.O.F.R+A.I.T.T.PFDS.26 Aktie

Bulldog Investors, a shareholder with 310,000 XFLT shares, says it will vote at the extraordinary shareholders' meeting on July 30, 2026, in favor of a new sub-advisory agreement with Rockford Tower Asset Management. The agreement, which the fund nominated after a selection process, would give shareholders the option to sell at least part of their holdings at a price near net asset value. Bulldog Investors recommends that shareholders use the white proxy card issued by the board. » Mere på de.investing.com

The board of the XAI Floating Rate & Alternative Income Trust (XFLT) approved a liquidity plan that includes an initial buyback offer for up to 12.5% of outstanding common shares at 98% of NAV, plus two subsequent conditional offers for up to 7.5% and 5.0% respectively on the same terms. Implementation depends on shareholder approval of a sub-advisory agreement with XAI and Rockford Tower (a subsidiary of King Street); Bulldog Investors has given its consent and agreed to a two-year lock-up. The first offer is expected to start about 45 days after approval; the later offers are staggered and tied to discount and NAV-performance thresholds; oversubscriptions will be prorated. No buybacks have been initiated so far. » Mere på de.investing.com

Egan-Jones recommends voting against the proposal to replace Octagon Credit Investors as sub‑adviser to the XAI fund (XFLT) with a subsidiary of King Street. The proxy advisor cites doubts that King Street’s trading strategy will deliver higher returns for shareholders, an inappropriate performance comparison made by the board, and concerns about the fee allocation that would raise XA Investments’ share of management fees from about 41% to 48%. Egan-Jones also points to potential conflicts of interest involving two trustees. Octagon continues to argue it offers a better path with lower fees and a simplified structure for the fund; the special shareholders meeting is scheduled for July 30, 2026. » Mere på de.investing.com