XAI Trust Shareholders Approve New Sub-Advisory Agreement
Shareholders of XAI Floating Rate & Alternative Income Trust approved a new investment sub-advisory agreement with Rockford Tower Asset Management, L.L.C. The special meeting, initially convened on July 30, 2026, was adjourned and reconvened on August 6, 2026, to secure additional proxies. Following shareholder approval, the Trust, XA Investments, LLC, and Rockford Tower Asset Management, L.L.C. formally entered into the New Sub-Advisory Agreement on August 10, 2026. This agreement has an initial term of two years and includes provisions for annual renewal and termination by either party.
Key Highlights
- Shareholders approved the New Sub-Advisory Agreement at a reconvened Special Meeting on August 6, 2026.
- The Trust, XA Investments, LLC, and Rockford Tower Asset Management, L.L.C. entered the agreement on August 10, 2026.
- The New Sub-Advisory Agreement has an initial term of two years.
- It can be renewed annually by the Board or majority of voting securities and majority of non-interested trustees.
- Either party can terminate the agreement with 60 days' written notice.
- The agreement terminates immediately upon assignment or termination of the Trust's advisory agreement.
Price Impact
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