Company: SWZ
Filing Date: 2025-03-11
Form Type: N-CSR
Source: 0001839882-25-014961
Chunk: 34

Company: Total Return Securities Fund
Filing Date: 2025-03-11
Form: N-CSR
Chunk 34
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 funds relative to competitors and to relevant benchmarks (which may be internally and/or externally-based and are considered over a range of performance periods), the level of funds under management, and the level of performance fees generated, if any. Schroders also reviews “softer” factors such as leadership, contribution to other parts of the business, and an assessment of the employee’s behavior and the extent to which it is in line with our corporate values of excellence, integrity, teamwork, passion and innovation. For those employees receiving significant bonuses, a part may be deferred in the form of Schroders plc stock and fund-based awards of notional cash investments in a range of Schroders Funds. These deferrals vest over a period of three years and are designed to ensure that the interests of the employees are aligned with those of the shareholders of Schroders. For the purposes of determining the portfolio managers’ bonuses, the relevant external benchmarks for performance comparison (including among others the Swiss Performance Index) in conjunction with the Morningstar peer group. Ownership of Securities of Registrant. As of the date of this Report, neither Mr. Frischknecht nor Mr. Lenz beneficially owned shares of common stock of the Registrant. Item 14. Purchases of Equity Securities by Closed‑End Management Investment Company and Affiliated Purchasers.

| Period             | (a)               
 Total Number of   
 Shares (or Units) 
 Purchased         | -b)            
 Average Price  
 Paid per Share 
 (or Unit       | (c)               
 Total Number of   
 Shares (or Units) 
 Purchased as Part 
 of Publicly       
 Announced Plans   
 or Programs       | (d)                    
 Maximum Number (or     
 Approximate Dollar     
 Value) of Shares (or   
 Units) that May Yet Be 
 Purchased Under the    
 Plans or Programs      |
| 7/1/24 – 7/31/24   | N/A               | N/A            | N/A               | N/A                    |
| 8/1/24 – 8/31/24   | N/A               | N/A            | N/A               | N/A                    |
| 9/1/24 – 9/30/24   | N/A               | N/A            | N/A               | N/A                    |
| 10/1/24 – 10/31/24 | N/A               | N/A            | N/A               | N/A                    |
| 11/1/24 – 11/30/24