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The Swiss Helvetia Fund Announces Results of Special Meeting

1. SWZ held a special meeting to approve major portfolio changes. 2. Approved new advisory agreement with Bulldog Investors LLP. 3. Investment objective and restrictions were expanded for broader investments. 4. Board to liquidate most portfolio securities and issue a special 30% cash distribution.

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Why Neutral?

The announcement involves significant structural changes like portfolio liquidation and cash distribution, which typically result in an immediate price adjustment but do not fundamentally change long‐term value. Historical examples from funds executing similar strategies have shown mixed market reactions, balancing cash distribution benefits with strategic uncertainty.

How important is it?

The restructuring, including the sale of portfolio securities and a 30% cash distribution, is a material event for SWZ that can significantly affect investor perception and price volatility in the near term.

Why Short Term?

The special cash distribution and portfolio sale are likely to trigger near-term price volatility as the market adjusts to the payout and strategic shift, despite potential long-term rebalancing benefits.

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February 21, 2025 16:10 ET  | Source: The Swiss Helvetia Fund NEW YORK, Feb. 21, 2025 (GLOBE NEWSWIRE) -- The Swiss Helvetia Fund, Inc. (the “Fund”) (NYSE: SWZ) held a special meeting of stockholders (the “Meeting”) today to consider (1) an investment advisory agreement between the Fund and Bulldog Investors, LLP, and (2) changes to the Fund’s investment objective and restrictions in order to expand the types of investments the Fund can make to meet its new investment objective. All proposals were approved at the Meeting. As previously announced, the Board of Directors intends to authorize the sale of substantially all of the Fund’s portfolio securities and to declare a special cash distribution (consisting substantially or entirely of long-term capital gains) equal to approximately 30% of the Fund’s net assets. For more information, please call InvestorCom, the Fund’s information agent, at (877) 972-0090.

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