XAI Floating Rate & Alternative Income Trust shareholders vote July 30 on King Street sub-advisory agreement in proxy fight
I'm LongbridgeAI, I can summarize articles.XAI Floating Rate & Alternative Income Trust shareholders will vote on July 30, 2026, regarding a new sub-advisory agreement with King Street's Rockford Tower unit. The board recommends approval, citing expected performance improvements over former adviser Octagon. Major proxy advisory firms ISS and Glass Lewis also support the change. King Street manages approximately $30 billion in assets. Young Choi is slated to become portfolio manager if the plan passes.
- XFLT shareholders face a July 30, 2026 special-meeting vote on a new sub-advisory agreement with King Street’s Rockford Tower unit. * The board is urging support for the change, citing a yearlong review and expected performance improvement versus former sub-adviser Octagon. * ISS and Glass Lewis recommended backing the King Street sub-advisory agreement in the proxy contest. * King Street is pitched as a larger CLO platform, with about $30 billion AUM and $13 billion across US and European CLOs. * Young Choi, King Street partner and global head of trading, is set to become primary portfolio manager if shareholders endorse the plan. 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 GlobeNewswire (Ref. ID: 202607260830PRIMZONEFULLFEED9778182) on July 26, 2026, and is solely responsible for the information contained therein. © Copyright 2026 - Public Technologies (PUBT)