InvestmentMay 19, 2026, 05:02 PM
XAI Madison Fund to Add PineBridge as Sub-Adviser; Changes Name
AI Summary
XAI Madison Equity Premium Income Fund's Board of Trustees has approved PineBridge Investments, LLC as an additional investment sub-adviser, subject to shareholder approval. This move will optimize the fund's strategy, with PineBridge managing 20-30% of assets in preferred equity and Madison Asset Management continuing to manage 70-80% in covered call equities. The fund's investment objective will remain focused on providing a high level of current income and gains, and its name will change to XAI Equity Premium Income Fund upon shareholder approval.
Key Highlights
- Board approved PineBridge Investments as an additional sub-adviser, pending shareholder vote.
- PineBridge will manage 20-30% of fund assets in a preferred equity strategy.
- Madison Asset Management will continue managing 70-80% of assets in a covered call equity strategy.
- The Fund's investment objective remains unchanged: high current income and gains.
- New PineBridge portfolio managers for preferred equity: Vladimir Karloz and Danny Zoba.
- Fund name to change to "XAI Equity Premium Income Fund" upon approval.
- Shareholder meeting for approval of the sub-advisory agreement scheduled around July 30, 2026.
Price Impact
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