XAI Octagon Floating Rate & Alternative Income Term Trust Announces Portfolio Management Change
03 Enero 2024 - 3:15PM
Business Wire
XAI Octagon Floating Rate & Alternative Income Term Trust
(the "Trust") (NYSE: XFLT), a diversified, closed-end management
investment company with an investment objective to seek attractive
total return with an emphasis on income generation across multiple
stages of the credit cycle, has announced today portfolio
management changes.
Effective January 1, 2024, Lauren Law, CFA, Senior Portfolio
Manager at Octagon Credit Investors (“Octagon”), and a member of
the firm's Investment Committee, assumed the position of lead
portfolio manager of the Trust. Ms. Law has been a member of the
Trust’s portfolio management team since its inception in 2017.
Gretchen Lam previously served as lead portfolio manager of the
Trust; effective January 1, 2024, Ms. Lam succeeded Andrew Gordon
as Chief Executive Officer of Octagon.
Ms. Law is supported by a team of Octagon investment
professionals in the day-to-day management of the Trust's
portfolio, including Ms. Lam who will continue to serve on the
firm’s Investment Committee alongside Mr. Gordon (Executive Chair),
Michael Nechamkin (Chief Investment Officer and Senior Portfolio
Manager), Sean Gleason (Portfolio Manager) and Maegan Gallagher
(Head of Trading and Capital Markets, and Head of Strategic
Initiatives).
* * *
The investment objective of the Trust is to seek attractive
total return with an emphasis on income generation across multiple
stages of the credit cycle. The Trust seeks to achieve its
investment objective by investing in a dynamically managed
portfolio of opportunities primarily within the private credit
markets. Under normal market conditions, the Trust will invest at
least 80% of its Managed Assets in floating rate credit instruments
and other structured credit investments. There can be no assurance
that the Trust will achieve its investment objective.
The Trust’s common shares are traded on the New York Stock
Exchange under the symbol "XFLT," and the Trust’s 6.50% Series 2026
Term Preferred Shares are traded on the New York Stock Exchange
under the symbol "XFLTPRA".
* * *
About XA Investments
XA Investments LLC (“XAI”) serves as the Trust’s investment
adviser. XAI is a Chicago-based firm founded by XMS Capital
Partners in April, 2016. In addition to investment advisory
services, the firm also provides investment fund structuring and
consulting services focused on registered closed-end funds to meet
institutional client needs. XAI offers custom product build and
consulting services, including development and market research,
sales, marketing, fund management and administration. XAI believes
that the investing public can benefit from new vehicles to access a
broad range of alternative investment strategies and managers. XAI
provides individual investors with access to institutional-caliber
alternative managers. For more information, please visit
www.xainvestments.com.
About XMS Capital Partners
XMS Capital Partners, LLC, established in 2006, is a global,
independent, financial services firm providing M&A, corporate
advisory and asset management services to clients. It has offices
in Chicago, Boston and London. For more information, please visit
www.xmscapital.com.
About Octagon Credit Investors
Octagon Credit Investors, LLC (“Octagon”) serves as the Trust’s
investment sub-adviser. Octagon is a 29-year old, $34.9B
below-investment grade corporate credit investment adviser focused
on leveraged loan, high yield bond and structured credit (CLO debt
and equity) investments. Through fundamental credit analysis and
active portfolio management, Octagon’s investment team identifies
attractive relative value opportunities across below-investment
grade asset classes, sectors, and issuers. Octagon’s investment
philosophy and methodology encourage and rely upon dynamic internal
communication to manage portfolio risk. Over its history, the firm
has applied a disciplined, repeatable, and scalable approach in its
effort to generate attractive risk-adjusted returns for its
investors. For more information, please visit
www.octagoncredit.com.
* * *
XAI does not provide tax advice; please consult a professional
tax advisor regarding your specific tax situation. Income may be
subject to state and local taxes, as well as the federal
alternative minimum tax.
Investors should consider the investment objectives and
policies, risk considerations, charges and expenses of the Trust
carefully before investing. For more information on the Trust,
please visit the Trust’s webpage at
www.xainvestments.com.
This press release shall not constitute an offer to sell or a
solicitation to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer or
solicitation or sale would be unlawful prior to registration or
qualification under the laws of such state or jurisdiction.
NOT FDIC INSURED
NO BANK GUARANTEE
MAY LOSE VALUE
* * *
Foreside Fund Services, LLC - Distributor
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version on businesswire.com: https://www.businesswire.com/news/home/20240103915667/en/
Kimberly Flynn, Managing Director XA Investments LLC Phone:
888-903-3358 Email: KFlynn@XAInvestments.com
www.xainvestments.com
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