Welcome to our dedicated page for Total Return Securities Fund news (Ticker: SWZ), a resource for investors and traders seeking the latest updates and insights on Total Return Securities Fund stock.
Total Return Securities Fund (NYSE: SWZ), formerly The Swiss Helvetia Fund, Inc., generates frequent news related to its operations as a non-diversified, closed-end investment company. Company announcements have covered changes to its investment objective, name change, distribution policies, rights offerings, and tender offers. These developments reflect the Fund’s shift from a focus on capital appreciation through Swiss equity and equity-linked securities toward a non-fundamental objective of providing long-term total return with expanded investment flexibility.
News items for SWZ often describe actions taken by the Board of Directors, such as authorizing or affirming self-tender offers to repurchase a portion of the Fund’s outstanding shares at prices tied to net asset value. The Fund has also issued detailed press releases about non-transferable rights offerings, including subscription terms, record and expiration dates, and how rights holders may subscribe for additional shares subject to allotment.
Another recurring theme in the Fund’s news is its managed distribution plan. Press releases outline quarterly distribution amounts, record and payment dates, and explain that distributions may consist of net investment income, realized capital gains, and return of capital. The Fund also provides information on special cash distributions, due bill procedures applied by the NYSE when distributions exceed a certain portion of the share price, and how these events affect trading around record and payment dates.
Investors and observers who follow SWZ’s news can track how the Fund’s Board implements capital management actions, modifies its distribution approach, and executes its transition to the Total Return Securities Fund identity. Regular updates also highlight the Fund’s communications about regulatory filings, emphasizing that official offering and tender documents are available through the U.S. Securities and Exchange Commission.
Total Return Securities Fund (NYSE: SWZ) completed its previously announced tender offer, accepting 4,000,000 shares for payment at $6.81 per share. The tender expired at 5:00 p.m. New York City time on January 20, 2026, and the Fund announced acceptance of the full 4 million shares on January 22, 2026. For tender-offer questions, the Fund listed InvestorCom LLC as its information agent at the provided phone number.
Total Return Securities Fund (NYSE: SWZ) completed a tender offer that expired January 20, 2026 at 5:00 p.m. ET to buy up to 4,000,000 shares for cash. Depositary data show 12,035,603.471 shares were validly tendered, so accepted shares will be prorated. The Fund will pay 98% of per-share net asset value as of the close of trading on the New York Stock Exchange on the expiration date. For inquiries, investors may contact the Fund’s information agent, InvestorCom LLC.
Total Return Securities Fund (NYSE: SWZ) announced a cash tender offer to purchase up to 4,000,000 shares of common stock at 98% of the fund's net asset value per share. The offer expires at 5:00 p.m. ET on January 20, 2026, unless extended, and the purchase price will use the NAV as of the close of the NYSE on the day following the Expiration Date. Under SEC rules the Fund may purchase additional shares not to exceed 2% of outstanding shares without amending the offer. The Fund filed a Schedule TO; shareholders may obtain offer documents from the SEC, the Fund website, or the information agent InvestorCom.
Total Return Securities Fund (NYSE: SWZ) announced its non-transferable rights offering expired on Dec 5, 2025. The offering allowed purchase of up to 12,990,705 additional shares; the Fund expects to issue 3,983,157 shares to subscribing rights holders.
The Subscription Price was $6.07 per share (vs. estimated $6.04), meaning each subscribing rights holder pays an additional $0.03 per share at issuance. After issuing shares, the Board intends to authorize a tender offer to buy up to ~23% of outstanding shares at a price of at least 98% of NAV at tender expiration.
Total Return Securities Fund (NYSE: SWZ) announced a non-transferable rights offering and described a planned subsequent tender offer.
Holders of record on November 14, 2025 will receive one right per share to buy one additional share at 85% of NAV on the expiration date of December 5, 2025 (unless extended). Rights holders who fully exercise may subscribe for additional unsubscribed shares subject to allotment. The Board intends to authorize a tender offer after the rights offering to buy 15%–30% of outstanding shares at a price of at least 98% of NAV. A Form N-2 registration statement has been filed but is not yet effective.
Total Return Securities Fund (NYSE:SWZ) has announced a significant rights offering and subsequent tender offer plan. The Fund will issue non-transferable rights allowing shareholders to purchase additional shares at 85% of NAV on the expiration date.
Following the rights offering, the Fund plans to initiate a tender offer with two scenarios: (1) If 8 million or more shares are issued, the Fund will purchase 30% of outstanding shares, or (2) If less than 8 million shares are issued, the Fund will purchase either 15% of outstanding shares or enough shares to maintain approximately $90 million in net assets, whichever is greater. The tender offer price will be at least 98% of NAV.
Total Return Securities Fund (NYSE:SWZ) has announced plans for significant corporate actions affecting shareholders. The Board of Directors has affirmed its intention to conduct a self-tender offer for at least 15% of outstanding shares at a minimum of 98% of NAV.
Additionally, the Board is considering a rights offering to existing stockholders before the tender offer, primarily to mitigate the impact on the Fund's expense ratio following the tender offer. If implemented, the subsequent tender offer could target between 15% and 25% of post-rights offering outstanding shares.
Total Return Securities Fund (NYSE: SWZ) has undergone significant changes following stockholder approval on February 21, 2025. The fund implemented a new investment advisory agreement with Bulldog Investors, LLP effective March 31, 2025, and transformed its fundamental investment objective from Swiss equity focus to long-term total return.
The Fund's Board authorized a portfolio restructuring and announced a special cash distribution of $3.00 per share for record holders as of April 3, 2025. As of April 17, 2025, the Fund's portfolio composition stands at:
- Swiss Public Securities: 31.4%
- Swiss Non-Public Securities: 2.1%
- U.S. Public Securities: 7.5%
- Cash and Cash Equivalents: 59.0%
The Fund's total net assets amount to $90.4 million.
The Swiss Helvetia Fund (NYSE: SWZ) has announced significant changes following stockholder approval on February 21, 2025. The Fund will implement a new investment advisory agreement with Bulldog Investors, LLP effective March 31, 2025, alongside a shift from its Swiss-focused investment strategy to a broader long-term total return objective.
The Fund declared a special cash distribution of $3.00 per share, representing approximately 30% of its net assets, payable on April 7, 2025, to stockholders of record as of April 3, 2025. Due to the distribution exceeding 25% of the current share price, NYSE will implement 'due bill' procedures for trades settling between April 4-7, 2025.
Additionally, the Fund will suspend its managed distribution plan and rebrand as 'Total Return Securities Fund' effective March 31, 2025. The Board has also authorized the sale of substantially all portfolio securities to align with these strategic changes.
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