XAI Floating Rate & Alternative Income Trust names King Street as new sub-adviser
The trust replaced its previous sub-adviser, Octagon Credit Investors, with King Street's Rockford Tower unit under an interim agreement effective July 30, 2026, while a shareholder vote on a permanent agreement was adjourned to August 6, 2026. The adviser, investment objective, and 1.70% advisory fee are unchanged, and the new sub-adviser's fee is 52% of that advisory fee.
Key points
- Special Meeting to approve the New Sub-Advisory Agreement adjourned to August 6, 2026 to solicit more proxies
- Interim Sub-Advisory Agreement with Rockford Tower Asset Management effective July 30, 2026, replacing Octagon Credit Investors
- Sub-advisory fee set at 52% of the 1.70% annual advisory fee; reimbursable expenses capped at 0.07% per annum of average daily net assets
- Mr. Young Choi became lead portfolio manager and Mr. Terry Ing became a portfolio manager
The filing
Written by AI on Nov 9, 2026, 8:53 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 30, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.