Corporate GovernanceJul 26, 2026, 08:34 AM
XFLT Urges Shareholder Vote 'FOR' King Street Sub-Advisory Agreement
AI Summary
XAI Octagon Floating Rate & Alternative Income Trust (XFLT) is urging shareholders to vote 'FOR' the King Street Sub-Advisory Agreement at its Special Meeting on July 30, 2026. The Board unanimously recommends approval, citing King Street's strong CLO platform, 30-year track record, and expanded investment capabilities. Leading independent proxy advisors ISS and Glass Lewis also recommend approving the agreement, which is expected to lead to increased distributions and improved performance for XFLT shareholders without new fees.
Key Highlights
- Shareholders to vote on King Street Sub-Advisory Agreement at Special Meeting on July 30, 2026.
- Board unanimously recommends voting 'FOR' the King Street Sub-Advisory Agreement.
- Leading proxy advisors ISS and Glass Lewis both recommend approving the agreement.
- King Street Capital Management has a 30-year track record and $30 billion in AUM.
- New sub-adviser aims for increased distributions and improved performance with no new fees.
- Young Choi, King Street veteran, will be the primary portfolio manager for XFLT.
Price Impact
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