Group 1: Fund Overview - The XAI Madison Equity Premium Income Fund (NYSE: MCN) aims to provide a high level of current income and gains, with a secondary objective of capital appreciation [3] - The Fund invests primarily in high quality, large and mid-capitalization stocks that are considered reasonably priced relative to their long-term earnings growth rates [3] - The Fund employs a strategy of selling covered call options on its portfolio stocks to generate current earnings from option premiums [3] Group 2: Upcoming Webinar - The Fund will host its Quarterly Webinar on February 3, 2026, at 11:00 am (Eastern Time), moderated by Kimberly Flynn, President at XA Investments [1] - Portfolio Managers Ray Di Bernardo and Drew Justman from Madison Investments will participate in the Q&A style webinar [1] Group 3: Company Background - XA Investments LLC, founded in 2016, serves as the investment adviser for multiple closed-end funds and provides investment fund structuring and consulting services [4] - Madison Investments, established in 1974, manages approximately $29.3 billion in assets as of December 31, 2025, and has extensive experience in covered call strategies [6]

Core Insights - The interval and tender offer fund market has reached a new peak with 308 funds and $233 billion in net assets, indicating a growing popularity in recent years [2][4] - The market is expected to maintain strong growth into 2026, driven by increased demand for evergreen products and greater investor accessibility [4] Market Overview - The non-listed closed-end fund (CEF) market includes 158 interval funds, which account for 57% of total managed assets at $156.1 billion, and 150 tender offer funds, comprising 43% with $119.9 billion in total managed assets [4] - In 2025, 67 new funds entered the market, an increase of 17 compared to 50 funds launched in 2024, with market-wide net assets rising by $61 billion [4][5] Fund Sponsorship and Diversity - There are 159 unique fund sponsors in the interval and tender offer fund space, an increase of 13 from 146 at the end of 2024, with 36% of the funds launched in 2025 sponsored by new entrants [5] - The number of funds in the SEC registration process decreased from 53 at the end of 2024 to 50 at the end of 2025, indicating consistent market momentum [6] Fund Performance and Recognition - Many interval and tender offer funds showed strong results in 2025, with notable net flows and asset growth, including the Cliffwater Corporate Lending Fund and the StepStone Private Credit Income Fund [8] - The new XAI Interval Fund Awards recognized innovative offerings and top-performing funds, providing valuable insights into the growth and performance of the interval fund market [9][8]

Core Points - XAI Madison Equity Premium Income Fund has changed its fiscal year end to September 30 from December 31 to align with other funds in its complex [1] - The Fund will file a Transition Report on Form N-CSR for the nine-month period from January 1, 2025, to September 30, 2025 [2] Company Overview - XA Investments LLC serves as the investment adviser for the Fund and was founded in 2016 by XMS Capital Partners [3] - XA Investments manages two listed closed-end funds and one interval closed-end fund, all of which are available on the New York Stock Exchange [3] - The firm also provides investment fund structuring and consulting services focused on registered closed-end funds [4] - XA Investments aims to provide individual investors access to institutional-caliber alternative investment strategies [5] Additional Company Information - XMS Capital Partners, established in 2006, offers M&A, corporate advisory, and asset management services with offices in Chicago, Boston, and London [6] - Madison Investments, founded in 1974, manages approximately $29.6 billion in assets as of September 30, 2025, and is recognized as a top investment firm [7] - Madison Investments offers a variety of investment management strategies, including domestic fixed income and international equity [7]

Group 1 - The XAI Madison Equity Premium Income Fund (NYSE: MCN) is a closed-end fund that appeals to income-seeking investors due to its high yield and equity portfolio [1] - The fund aims to generate a yield of over 7% by investing in energy stocks while minimizing principal loss risk [1] - A two-week free trial is currently being offered for the investment service, providing access to exclusive research and investment ideas [1]

Group 1 - The XAI Madison Equity Premium Income Fund plans to host a Quarterly Webinar on August 7, 2025, at 11:00 am (Eastern Time) [1] - The webinar will be moderated by Jared Hagen, with participation from Kimberly Flynn and Ray Di Bernardo [1] - A replay of the webinar will be available in the Knowledge Bank section of xainvestments.com [2] Group 2 - The Fund's primary investment objective is to provide a high level of current income and gains, with a secondary objective of capital appreciation [3] - The Fund invests primarily in high quality, large and mid-capitalization stocks that are considered reasonably priced relative to their long-term earnings growth rates [3] - The Fund employs a strategy of selling covered call options on its portfolio stocks to generate current earnings from option premiums [3] Group 3 - XA Investments LLC, founded in 2016, serves as the investment adviser for multiple closed-end funds and provides investment fund structuring and consulting services [4] - XMS Capital Partners, established in 2006, offers M&A, corporate advisory, and asset management services with offices in Chicago, Boston, and London [5] - Madison Investments, founded in 1974, manages approximately $28 billion in assets and has expertise in covered call strategies [6]