- Total Return Securities Fund (SWZ, Financial) has shifted its investment focus to long-term total return following stockholder approval in February 2025.
- Effective March 31, 2025, Bulldog Investors, LLP, became the Fund's new investment advisor.
- The Fund announced a special cash distribution of $3.00 per share, payable to shareholders of record as of April 3, 2025.
The Total Return Securities Fund (SWZ) has made significant changes to its investment strategy following its stockholders' approval on February 21, 2025. Notably, the Fund adopted a new investment advisory agreement with Bulldog Investors, LLP, which took effect on March 31, 2025. This agreement marks a shift from the Fund's previous focus on Swiss equity to a broader objective of achieving long-term total return.
As part of this strategic realignment, the Fund's board authorized a comprehensive restructuring of its portfolio. A special cash distribution of $3.00 per share has been announced for shareholders recorded by April 3, 2025, and is set to be distributed on April 14, 2025.
As of April 17, 2025, the Total Return Securities Fund's portfolio is composed as follows: 31.4% in Swiss Public Securities, 2.1% in Swiss Non-Public Securities, 7.5% in U.S. Public Securities, and a substantial 59.0% held in Cash and Cash Equivalents. The Fund's total net assets amount to $90.4 million.
