XFLT is asking shareholders to focus on an ongoing proxy contest that centers on the fund’s sub-advisory relationship and competing messages tied to former sub-adviser Octagon. According to the announcement, XFLT says investors should understand the issues clearly as they prepare to vote.
The company’s position is that Octagon, described in the release as the terminated sub-adviser, is attempting to create confusion around the shareholder vote. XFLT is urging investors to support the WHITE proxy card and vote in favor of the King Street sub-advisory arrangement.
The dispute appears to be framed around governance, shareholder communication and the future direction of portfolio oversight. While the trimmed release does not include the full set of arguments from either side, XFLT’s message is that shareholders should rely on what it presents as the facts when reviewing the proxy materials.
For shareholders, the central issue is the proxy vote itself and whether to back the recommendation supported by XFLT. The company is positioning the decision as an important one for investors seeking clarity on management and sub-advisory leadership during the contest.
