Company: SWZ
Filing Date: 2025-10-23
Form Type: N-2/A
Source: 0001999371-25-015937
Chunk: 62

Company: Total Return Securities Fund
Filing Date: 2025-10-23
Form: N-2/A
Chunk 62
---
1-800-937-5449OR BY VISITING THE FUND’S WEBSITE AT WWW.TOTALRETURNSECURITIESFUND.COM. THE REGISTRATION STATEMENT OF WHICH THE PROSPECTUS IS A PART CAN BE REVIEWED AND COPIED AT THE PUBLIC REFERENCE ROOM OF THE SECURITIES AND EXCHANGE COMMISSION (THE “SEC”) AT 100 F STREET NE, WASHINGTON, D.C. 20549-0102. YOU MAY OBTAIN INFORMATION ON THE OPERATION OF THE PUBLIC REFERENCE ROOM BY CALLING THE SEC AT (800) SEC-0330. THE FUND’S FILINGS WITH THE SEC ARE ALSO AVAILABLE TO THE PUBLIC ON THE SEC’S WEBSITE AT WWW.SEC.GOV. COPIES OF THESE FILINGS MAY BE OBTAINED, AFTER PAYING A DUPLICATING FEE, BY ELECTRONIC REQUEST AT THE FOLLOWING E-MAIL ADDRESS: PUBLICINFO@SEC.GOV, OR BY WRITING THE SEC’S PUBLIC REFERENCE SECTION, 100 F STREET NE, WASHINGTON, D.C. 20549-0102.

<div align='center'>TABLE OF CONTENTS OF THE STATEMENT OF ADDITIONAL INFORMATION</div>

|                                                                | Page |
| FORWARD-LOOKING STATEMENTS                                     | B-1  |
| GENERAL INFORMATION AND HISTORY                                | B-1  |
| INVESTMENT RESTRICTIONS                                        | B-2  |
| MANAGEMENT                                                     | B-3  |
| CODE OF ETHICS                                                 | B-14 |
| PROXY VOTING PROCEDURES                                        | B-14 |
| ADMINISTRATIVE SERVICES, CUSTODIAN, TRANSFER AGENT             | B-15 |
| PORTFOLIO MANAGERS                                             | B-16 |
| ALLOCATION OF BROKERAGE                                        | B-17 |
| CERTAIN MATERIAL UNITED STATES FEDERAL INCOME TAX CONSEQUENCES | B-18 |
| FINANCIAL STATEMENTS                                           | B-25 |
| OTHER INFORMATION                                              | B-25 |
| INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM                  | B-25 |

<div align='center'>FORWARD-LOOKING STATEMENTS</div>

This SAI contains or incorporates by reference “forward-looking statements” (within the meaning of the federal securities laws) that involve risks and uncertainties. Forward-looking statements are excluded from the safe harbor protection provided by Section 27A of the Securities Act of 1933, as amended. These statements describe the Fund’s