Madison Covered Call & Equity Strategy Fund Announces Appointment of XA Investments as Investment Adviser and Madison Asset Management as Sub-Adviser; Fund to Rebrand as XAI Madison Equity Premium Income Fund
The appointment of XAI and
The Fund joins the XAI Funds platform and expands the number of closed-end funds currently on the XAI Funds platform to three: the Fund, the XAI Octagon Floating Rate & Alternative Income Trust (NYSE: XFLT), and the Octagon XAI CLO Income Fund (OCTIX). XAI continues to seek additional opportunities consistent with its mission of providing better products with better portfolio outcomes for investors.
Kimberly Flynn, President of XAI, said “We are excited for our partnership with Madison Investments and the MCN management team. Combining their 20 years of covered call expertise with our deep experience in closed-end fund product management, will allow us to serve the shareholders and implement industry best practices for the Fund.”
Portfolio manager Ray Di Bernardo said, “We saw a great opportunity to partner with XAI, which we believe will be important and meaningful to both the Fund and firm. We’re looking forward to benefiting from XAI’s deep expertise managing closed-end funds.”
“Adding MCN and its shareholders to the XAI Funds platform is an exciting evolution for XAI,“ said Kimberly Flynn, President of XAI. “The Fund presents a complementary investment strategy for our other alternative oriented funds. With MCN, we plan to focus on improving the secondary market trading of the Fund and creating scale efficiencies by growing the Fund’s assets.”
About Madison Covered Call & Equity Strategy Fund
Madison Covered Call & Equity Strategy Fund (NYSE: MCN) is an actively-managed closed-end fund that invests in a diversified portfolio of
About XA Investments
XA Investments LLC is a
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 product development and market research, sales, marketing and fund management.
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 Madison Investments
Madison Investments is an independent investment management firm based in
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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 Fund carefully before investing. For more information on the Fund, including shareholder reports, proxy and information statements and other information, please visit the SEC’s website at www.sec.gov.
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.
This press release contains certain statements that may include "forward-looking statements." Forward-looking statements can be identified by the words "may," "will," "intend," "expect," "estimate," "continue," "plan," "anticipate," and similar terms and the negatives of such terms. By their nature, all forward-looking statements involve risks and uncertainties, and actual results could differ materially from those contemplated by the forward-looking statements. Many factors that could materially affect the Fund’s actual results are the performance of the portfolio of securities held by the Fund, the conditions in the
Although the Fund believes that the expectations expressed in such forward-looking statements are reasonable, actual results could differ materially from those expressed or implied in such forward-looking statements. The Fund’s future financial condition and results of operations, as well as any forward-looking statements, are subject to change and are subject to inherent risks and uncertainties. You are cautioned not to place undue reliance on these forward-looking statements, which are made as of the date of this press release. Except for the Fund’s ongoing obligations under the federal securities laws, the Fund does not intend, and the Fund undertakes no obligation, to update any forward-looking statement.
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Kimberly Flynn, President
XA Investments LLC
Phone: 888-903-3358
Email: KFlynn@xainvestments.com
www.xainvestments.com
Source: XA Investments LLC