Company: SWZ
Filing Date: 2025-11-14
Form Type: 424B2
Source: 0001999371-25-017927
Chunk: 93

Company: Total Return Securities Fund
Filing Date: 2025-11-14
Form: 424B2
Chunk 93
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CHASE, OWNERSHIP AND DISPOSITION OF THE SHARES, INCLUDING THE APPLICATION AND EFFECT OF U.S. FEDERAL, STATE, LOCAL, FOREIGN AND OTHER TAX LAWS (INCLUDING ESTATE AND GIFT TAX RULES) AND THE POSSIBLE EFFECTS OF CHANGES IN U.S. FEDERAL OR OTHER TAX LAWS.

<div align='center'>B-24

FINANCIAL STATEMENTS</div>

The financial statements included in the Fund’s Annual Report for the year ended December 31, 2024 filed with the SEC on March 11, 2025 (File No. 811- 05128), are herein incorporated by reference. The financial statements included in the Fund’s Semi-Annual Report for the six-month period ended June 30, 2025 filed with the SEC on September 8, 2025 (File No. 811-05128), are herein incorporated by reference.

<div align='center'>OTHER INFORMATION</div>

The Fund is incorporated in Delaware.Pursuant to the Fund’s By-Laws, the Fund will indemnify each of its Directors, officers and employees (including persons who serve at the Fund’s request as directors, officers or employees of another organization) to the full extent authorized by law.

The Fund’s Prospectus and this SAI do not contain all of the information set forth in the Registration Statement that the Fund has filed with the SEC. The complete Registration Statement may be obtained as described on the cover page of this SAI.

<div align='center'>INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</div>

Tait, Weller & Baker LLPis the independent registered public accounting firm for the Fund and provides audit services, tax return preparation and assistance with respect to the preparation of filings with the SEC.

<div align='center'>B-25</div>