Company: SWZ
Filing Date: 2025-10-23
Form Type: N-2/A
Source: 0001999371-25-015937
Chunk: 67

Company: Total Return Securities Fund
Filing Date: 2025-10-23
Form: N-2/A
Chunk 67
---
 Executive Officer of the Fund since 2019 and has served as a Director (since 2017) and Chairman of the Board (since 2018). Mr. Dakos has over 20 years of investment management experience. He is currently a Partner in Bulldog and Ryan Heritage, LLP, each an investment adviser registered with the SEC. He is also a principal of the former general partner of several private investment partnerships in the Bulldog group of private funds. Mr. Dakos is also a director/trustee of two other closed-end funds, one subsidiary of a large commercial real estate company, and one real estate development company.

Phillip Goldstein. Mr. Goldstein has been a Director of the Fund since 2018. Mr. Goldstein has over 30 years of investment management experience. He is currently a Partner in Bulldog and Ryan Heritage, LLP, each an investment adviser registered with the SEC. He is also a principal of the former general partner of several private investment partnerships in the Bulldog group of private funds. Mr. Goldstein is also a director of three (3) other closed-end funds and one subsidiary of a large commercial real estate company.

Richard Dayan. Mr. Dayan has been a Director of the Fund since 2018. Mr. Dayan has been the President and owner of Cactus Trading, an importer and exporter of clothing and accessories since 1990. Mr. Dayan 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.

<div align='center'>B-9</div>

Gerald Hellerman. Mr. Hellerman has been a Director of the Fund since 2018. Mr. Hellerman has more than