Company: SWZ
Filing Date: 2025-11-14
Form Type: 424B2
Source: 0001999371-25-017927
Chunk: 70

Company: Total Return Securities Fund
Filing Date: 2025-11-14
Form: 424B2
Chunk 70
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 formerly served for 15 years as controller for Biltmore Textiles, a major textile company. Prior to that, he was an auditor for a public accounting firm.

Moritz Sell. Mr. Sell has been a Director of the Fund since 2017. Mr. Sell currently serves as Principal of Edison Holdings GmbH, a commercial real estate and venture capital firm. From 1996 to 2013, he served as a Director, Market Strategist and Head of Proprietary Trading (London Branch) of Landesbank Berlin AG and its predecessor, Landesbank Berlin Holding AG (formerly named Bankgesellschaft Berlin AG). Mr. Sell currently serves as a director of Aberdeen Australia Equity Fund, Aberdeen Global Income Fund, Aberdeen Asia Pacific Income Fund, trustee of High Income Securities Fund and previously served as a director of Aberdeen Singapore Fund (including as chairman of the board) and Aberdeen Greater China Fund.

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Gerald Hellerman. Mr. Hellerman has been a Director of the Fund since 2018. Mr. Hellerman has more than 40 years of financial experience, including serving as a Financial Analyst and Branch Chief at the SEC, Special Adviser to the U.S. Senate Antitrust and Monopoly Subcommittee and as Chief Financial Analyst at the Antitrust Division of the U.S. Department of Justice for 17 years. He has served as a director of a number of public companies, including registered investment companies, and as a financial and corporate consultant during the period from 1993 to 2014.

Specific details regarding each Director’s principal occupations during the past five years are included above. The summaries set forth above as to the experience, qualifications, attributes and/or skills of the Directors do not constitute holding out the Board or any Director as having any special expertise or experience, and do not impose any greater responsibility or liability on any such person or on the Board as a whole than would otherwise be the case.

Board Composition and Leadership Structure

The Board currently consists of five (5) individuals, two (2) of whom are Interested Directors of the Fund. The Chairman of the Board, Mr. Dakos, is an Interested Director and is the President and Chief Executive Officer of the Fund. Mr. Sell serves as the Board’s lead independent director.

The Board believes that its structure facilitates the orderly and efficient flow of information to the Directors from the service providers with respect to services provided to the Fund, potential conflicts of interest that could arise from these relationships and other risks that the