Company: SWZ
Filing Date: 2025-03-11
Form Type: N-CSR
Source: 0001839882-25-014961
Chunk: 19

Company: Total Return Securities Fund
Filing Date: 2025-03-11
Form: N-CSR
Chunk 19
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 pledged to secure its obligations under the credit agreement. As of December 31, 2024, the amount of total outstanding borrowings under the credit agreement was $0. For the year ended December 31, 2024, the Fund’s activity under the credit facility activity was as follows:

| Maximum Amount | Average Daily | Maximum Amount | Interest | Commitment | Weighted Average |
| Available      |    Borrowings |    Outstanding |  Expense |        Fee | Interest Rate    |
| $15,000,000    |        $4,615 |     $1,678,000 |     $281 |    $53,359 | 6.10%            |

Note 10—New Accounting Pronouncement In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”). ASU 2023-07 is intended to improve reportable 35 THE SWISS HELVETIA FUND, INC. Notes to Financial Statements (concluded) segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses, allowing financial statement users to better understand the components of a segment’s profit or loss and assess potential future cash flows for each reportable segment and the entity as a whole. The amendments expand a public entity’s segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker, clarifying when an entity may report one or more additional measures to assess segment performance, requiring enhanced interim disclosures and providing new disclosure requirements for entities with a single reportable segment, among other new disclosure requirements. Management has evaluated the impact of adopting ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures with respect to the financial statements and disclosures and determined there is no material impact for the Fund(s). The Fund operates as a single segment entity. The Fund’s income, expenses, assets, and performance are regularly monitored and assessed by the Adviser, who serves as the chief operating decision maker, using the information presented in the financial statements and financial highlights. Note 11—Subsequent Events The Fund has evaluated the need for disclosures and/or adjustments resulting from subsequent events through the date financial statements were available to be issued. Based on this evaluation, except as disclosed below, no adjustments or additional disclosures were deemed to be required to the financial statements as of December 31, 2024. On February