Company: SWZ
Filing Date: 2025-10-03
Form Type: N-2
Source: 0001999371-25-014685
Chunk: 96

Company: Total Return Securities Fund
Filing Date: 2025-10-03
Form: N-2
Chunk 96
---
 the Securities Act of 1933 and will be governed by the final adjudication of such issue.

Item 31. Business and Other Connections of Investment Adviser

The descriptions of the Investment Adviser under the caption “Management of the Fund – Investment Adviser and Investment Advisory Agreement” in the Prospectus and “Portfolio Mangers” in the Statement of Additional Information constituting Parts A and B, respectively, of this Registration Statement are incorporated by reference herein. The Registrant is fulling the requirement of this Item 31 to provide a list of officers and directors of Bulldog Investors, LLP, Registrant’s investment adviser (“Bulldog”), together with information as to any other business, profession, vocation or employment of a substantial nature engaged in by Bulldog or those of its officers and partners during the past two (2) years, by incorporating by reference the information contained in the Form ADV filed with the SEC pursuant to the Investment Advisers Act of 1940, as amended by Bulldog (SEC File No. 801-70596).

Item 32. Location of Accounts and Records

All applicable accounts, books and documents required to be maintained by the Registrant by Section 31(a) of the Investment Company Act of 1940 and the rules promulgated thereunder are in the possession and custody of the Registrant’s administrator, U.S. Bancorp Fund Services, LLC, doing business as U.S. Bank Global Fund Services, located at 615 East Michigan Street Milwaukee, WI 53202.

Item 33. Management Services

Not applicable.

Item 34. Undertakings

| 1. | The                                                                                                                            
 Registrant undertakes to suspend the offering of its Rights until the prospectus is amended if (1) subsequent to the effective 
 date of this registration statement, the net asset value declines more than ten percent from its net asset value as of the     
 effective date of the registration statement or (2) the net asset value increases to an amount greater than its net proceeds   
 as stated in the prospectus.                                                                                                   |

| 2. | Not         
 applicable. |

| 3. | Not         
 applicable. |

| 4. | The                         
 Registrant undertakes that: |

| (a) | for                                                                                                                            
 the purpose of determining any liability under the Securities Act of 1933, the information omitted from the form of prospectus 
 filed as part of this registration statement in reliance upon Rule 430A and contained in the form of prospectus filed