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TOTAL RETURN SECURITIES FUND PORTFOLIO SNAPSHOT

1. SWZ approved an advisory agreement with Bulldog Investors effective March 31, 2025. 2. SWZ's objective shifted to long-term total return from capital appreciation. 3. Board of Directors authorized the sale of most portfolio securities. 4. A special cash distribution of $3.00 per share is scheduled for April 14, 2025. 5. Current portfolio: 31.4% Swiss public, 59% cash, reflecting conservative strategy.

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FAQ

Why Bullish?

The shift to long-term total return with a significant cash distribution enhances appeal, similar to past successful fund restructurings that led to price increases.

How important is it?

The strategic changes and upcoming cash distribution are significant, likely to impact investor sentiment and trading volume positively.

Why Short Term?

The announcement of a cash distribution is immediate, likely encouraging buying interest shortly before the distribution date.

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SPYSCHFVTI
, /PRNewswire/ -- As previously announced, on February 21, 2025, stockholders of Total Return Securities Fund (f/k/a The Swiss Helvetia Fund, Inc.) (the "Fund") (NYSE: SWZ) approved the following: (1) an investment advisory agreement between the Fund and Bulldog Investors, LLP (which was effective on March 31, 2025); (2) replacement of the Fund's fundamental investment objective of capital appreciation by investing in equity and equity-linked securities of Swiss companies with a non-fundamental investment objective of providing long-term total return; and (3) changes to the Fund's fundamental investment restrictions in order to expand the types of investments the Fund can make to meet its new investment objective. Also, as previously announced, the Fund's Board of Directors subsequently authorized (1) the sale of substantially all of the Fund's portfolio securities, and (2) a special cash distribution (consisting substantially or entirely of long-term capital gains) of $3.00 per share on April 14, 2025 to record holders as of April 3, 2025. In response to requests from several shareholders to provide information about the Fund's current portfolio, the Fund has elected to provide the following breakdown of its portfolio as of Thursday, April 17, 2025. Swiss Public Securities = 31.4%Swiss Non-Public Securities = 2.1%U.S. Public Securities = 7.5%Cash and Cash Equivalents = 59.0% Total Net Assets = $90.4 million Contact: Thomas Antonucci, 201-881-7102, [email protected] SOURCE Total Return Securities Fund WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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