Company: SWZ
Filing Date: 2025-10-23
Form Type: N-2/A
Source: 0001999371-25-015937
Chunk: 70

Company: Total Return Securities Fund
Filing Date: 2025-10-23
Form: N-2/A
Chunk 70
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 |
| Andrew Dakos**      | Interested Director                                 
 and Chairman, President and Chief Executive Officer | $10,001-$50,000        | $10,001-$50,000          |
| Phillip Goldstein** | Interested Director                                 | Over $100,000          | Over $100,000            |
| Thomas Antonucci**  | Chief Financial Officer                             | None                   | None                     |
| Stephanie Darling** | Chief Compliance                                    
 Officer                                             | None                   | None                     |
| Rajeev Das**        | Secretary                                           | $1-$10,000             | $1-$10,000               |

| * | The                                                                                                              
 Family of Investment Companies consists of the Fund, Special Opportunities Fund and High Income Securities Fund. |

| ** | Messrs.                                                                                                              
 Dakos, Goldstein, Antonucci and Das and Ms. Darling each may be considered an “interested person” of the Fund within 
 the meaning of the 1940 Act.                                                                                         |

Additional Information about the Board

Board Meetings and Committees.

During the fiscal year ended December 31, 2024, the Board met four (4) times. During the fiscal year ended December 31, 2024, each present Director attended at least 75% of the meetings of the Board and of the Committees of which he is a member, held since his respective election.

Audit and Valuation Committee

At a meeting of the Board held on September 12, 2025, the Board determined to combine the Audit Committee and the Valuation Committee (which had previously been established on March 21, 2025). The Audit and Valuation Committee's responsibilities include: (i) the integrity of the Fund’s financial statements; (ii) the Fund’s compliance with legal and regulatory requirements; (iii) the independent registered public accounting firm’s qualifications, independence and performance and (iv) overseeing the implementation and operation of the Fund's security valuation procedures applicable to the Fund's portfolio assets. The Audit and Valuation Committee has direct responsibility to appoint, retain, determine the compensation of, evaluate and terminate the Fund’s independent registered public accounting firm, including sole authority to approve all audit engagement fees and terms, and in connection therewith, to review and evaluate matters potentially affecting the independence and capabilities of the independent registered public accounting firm. The Audit and Valuation Committee also oversees the accounting and financial reporting processes of the Fund and the audits of the Fund’s financial statements as well as the administration of the Fund.

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