Company: SWZ
Filing Date: 2025-01-10
Form Type: PRE 14A
Source: 0000894189-25-000129
Chunk: 14

Company: Total Return Securities Fund
Filing Date: 2025-01-10
Form: PRE 14A
Chunk 14
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 assets as of December 31, 2023, and assuming that the level of average weekly total assets remained constant for a year, under the Proposed Agreement, the annual advisory fee payable by the Fund to Bulldog would be $1,271,858 an increase of $409,886, or 48%, compared to the aggregate fee paid to Schroders during 2023 under the Current Agreements, before giving effect to the offset of the annual advisory fee for compensation paid by the Fund to certain officers and directors of the Fund who are affiliated with Bulldog. After offsetting the annual advisory fee for such compensation, the annual advisory fee received by Bulldog would be $1,087,858 an increase of $225,886, or 26%, compared to the aggregate fee paid to Schroders during 2023. As is the case with SIMNA under the Current Agreement, under the Proposed Agreement, Bulldog will maintain a staff to furnish the services to the Fund under the Proposed Agreement. Bulldog will bear all expenses of its employees in connection with its duties under the Proposed Agreement. However, unlike the Current Agreement, Bulldog will deduct from its advisory fee all officer and director fees paid to those officers and directors of the Fund (other than the Fund’s Chief Compliance Officer) affiliated with Bulldog. The Fund would continue to bear all of its own expenses and liabilities, including but not limited to expenses for legal, accounting and auditing services; taxes and governmental fees; dues and expenses incurred in connection with membership in investment company organizations; fees and expenses incurred in connection with listing the Fund’s shares on any stock exchange; costs of printing and distributing stockholder reports, proxy materials, prospectuses, stock certificates and distribution of dividends; charges of the Fund’s custodians and sub-custodians, administrators and sub-administrators, registrars, transfer agents, dividend disbursing agents and dividend reinvestment plan agents; payment for portfolio pricing services to a pricing agent, if any; registration and filing fees of the Securities and Exchange Commission; expenses of registering or qualifying securities of the Fund for sale in various states; freight and other charges in connection with the shipment of the Fund’s portfolio securities; fees and expenses of Non-Interested Directors or non-interested members of any advisory or investment board, committee or panel of the Fund; fees and expenses of the Fund’s Chief Compliance Officer; fees and expenses of any officers and directors of the Fund who are not affiliated with the Fund’s administrator or its affiliates; travel expenses or an appropriate