GlobeNewswire·Jul 21, 2026, 7:45 AM ET

XA Investments President Kimberly Flynn Dispels Misinformation Ahead of XFLT Proxy Vote

XFLT

XA Investments LLC addressed XFLT shareholders via video to counter misleading statements made by terminated sub-adviser Octagon Credit Investors ahead of the July 30, 2026 special meeting.
The Fund's Board removed Octagon due to poor performance, citing a 54.40% decline in net asset value per share since the fund's 2017 inception, representing approximately $406.7 million in NAV erosion as of March 31, 2026.
S&P Global Ratings reported on June 16, 2026, that Octagon CLOs defaulted on seven debt tranches across five CLOs, a figure exceeding the combined global defaults for all of 2024 2025.
The Board unanimously selected Rockford Tower Asset Management, L.L.C. (King Street Sub-Adviser) following a competitive process, citing its depth of talent, expanded investment capabilities, and robust CLO platform.
King Street manages over $30 billion in assets, employs twice as many credit professionals as Octagon, 20 U.S. CLOs, 9 European CLOs, 20 U.S. CLOs, 9 European CLOs, 20 U.S. CLOs, 9 European CLOs, 20 U.S. CLOs, 9 European CLOs, and 9 European CLOs.
Rockford Tower plans to execute XFLT's strategy dynamically, including income-focused investments in European CLOs, bank loans, 20 U.S. CLOs, 9 European CLOs, 20 U.S. CLOs, 9 European CLOs, 20 U.S. CLOs, 9 European CLOs, and European asset-backed securities.
XFLT shareholders are urged to vote "FOR" the King Street Sub-Advisory Agreement on the WHITE proxy card at the special meeting on July 30, 2026.
Shareholders may vote by internet, phone, or mail using the control number on their WHITE proxy card, or contact Okapi Partners LLC for assistance at (855) 305-0855.