CHICAGO, January 03, 2024--(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).

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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".

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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.