---
title: "Octagon urges XFLT shareholders to reject sub-adviser switch, calls for management fee cut to 1.3%"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/293490974.md"
description: "Octagon urges XAI Floating Rate & Alternative Income Trust shareholders to reject a proposed sub-adviser switch and vote for Octagon as the primary adviser. The firm criticizes the board's process, citing strong historical NAV returns, and proposes reducing management fees from 1.7% to 1.3% alongside measures to narrow the discount to net asset value."
datetime: "2026-07-22T14:56:19.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/293490974.md)
  - [en](https://longbridge.com/en/news/293490974.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/293490974.md)
generator: "portal-rs"
---

# Octagon urges XFLT shareholders to reject sub-adviser switch, calls for management fee cut to 1.3%

-   Octagon escalated its campaign against XAI Floating Rate & Alternative Income Trust’s board over a proposed sub-adviser change. \* Octagon argued the fund has delivered about 40% total NAV return since inception, criticizing the board’s focus on a NAV measure excluding distributions. \* It said ISS called the board’s process “not unreasonable” and “not indefensible,” without backing the adviser switch as a value-creation step. \* Octagon proposed cutting the management fee to 1.3% from 1.7%, paired with actions to narrow the discount to NAV. \* It urged shareholders to vote against the new sub-adviser, pushing Octagon as primary adviser to reduce disruption. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. XAI Floating Rate & Alternative Income Trust published the original content used to generate this news brief via Business Wire (Ref. ID: 20260722780892) on July 22, 2026, and is solely responsible for the information contained therein. © Copyright 2026 - Public Technologies (PUBT)

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**