The Swiss Helvetia Fund Announces Results of Special Meeting

The Swiss Helvetia Fund (NYSE: SWZ) announced the results of a special stockholders meeting held on February 21, 2025.

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Rhea-AI Summary

The Swiss Helvetia Fund (NYSE: SWZ) announced the results of a special stockholders meeting held on February 21, 2025. Stockholders approved two key proposals: (1) a new investment advisory agreement with Bulldog Investors, LLP, and (2) changes to the Fund's investment objective and restrictions to broaden its investment capabilities.

The Fund's Board of Directors plans to sell substantially all portfolio securities and declare a special cash distribution, primarily consisting of long-term capital gains, amounting to approximately 30% of the Fund's net assets.

Positive

Special cash distribution of 30% of net assets planned
Expanded investment capabilities approved
New investment advisory agreement secured with Bulldog Investors

Negative

Substantial portfolio liquidation planned
Large capital gains distribution may have tax implications for shareholders

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News Market Reaction – SWZ

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02/21/2025 - 04:10 PM EST

NEW YORK, Feb. 21, 2025 (GLOBE NEWSWIRE) -- The Swiss Helvetia Fund, Inc. (the “Fund”) (NYSE: SWZ) held a special meeting of stockholders (the “Meeting”) today to consider (1) an investment advisory agreement between the Fund and Bulldog Investors, LLP, and (2) changes to the Fund’s investment objective and restrictions in order to expand the types of investments the Fund can make to meet its new investment objective. All proposals were approved at the Meeting. As previously announced, the Board of Directors intends to authorize the sale of substantially all of the Fund’s portfolio securities and to declare a special cash distribution (consisting substantially or entirely of long-term capital gains) equal to approximately 30% of the Fund’s net assets.

For more information, please call InvestorCom, the Fund’s information agent, at (877) 972-0090.

FAQ

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What percentage of net assets will SWZ distribute to shareholders?

The Swiss Helvetia Fund (SWZ) plans to distribute approximately 30% of its net assets as a special cash distribution.

When did SWZ stockholders approve the new investment advisory agreement?

SWZ stockholders approved the new investment advisory agreement with Bulldog Investors, LLP on February 21, 2025.

What major changes were approved at SWZ's special meeting?

Stockholders approved a new investment advisory agreement with Bulldog Investors, LLP and changes to the Fund's investment objective and restrictions to expand investment capabilities.

What type of distribution will SWZ shareholders receive?

SWZ shareholders will receive a special cash distribution consisting substantially or entirely of long-term capital gains.

What major portfolio changes are planned for SWZ?

SWZ plans to sell substantially all of its portfolio securities to facilitate the special cash distribution.

The Swiss Helvetia Fund Announces Results of Special Meeting