Total Return Securities Fund — Director's Dealing 2007

Jul 5, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SWISS HELVETIA FUND, INC. (SWZ)
CIK: 0000813623
Period of Report: 2007-06-29

Reporting Person: HOTTINGER CAPITAL CORP (Investment Advisor)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-06-22	Common Stock	X	42812	$16.6	Acquired	171247	Direct
2007-06-22	Common Stock	X	3761	$16.6	Acquired	186291	Direct
2007-06-22	Common Stock	X	2000	$16.6	Acquired	188291	Direct
2007-06-22	Common Stock	X	196	$16.6	Acquired	189076	Direct
2007-06-22	Common Stock	X	111	$16.6	Acquired	189187	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-06-22	Subscription Rights (right to buy)	$16.6	X	128436	Disposed	2007-06-22	Common Stock (42812)	Direct
2007-06-22	Subscription Rights (right to buy)	$16.6	X	11283	Disposed	2007-06-22	Common Stock (3761)	Direct
2007-06-22	Subscription Rights (right to buy)	$16.6	X	588	Disposed	2007-06-22	Common Stock (196)	Direct

Footnotes

F1: The shares of Common Stock under Item 4 of table I were acquired through subscription in the Fund's 1-for-3 rights offering. Shares of Common Stock issued pursuant to the exercise of 128436 rights issued to Hottinger Capital Corp were acquired on June 29, 2007.

F2: Subscription Price determined by 92.5% of the average of the last reported sales price per share on the NYSE for the five trading days ended June 22, 2007 (the Expiration Date).

F3: Record Date shareholders who fully exercised their rights were entitled to an over-subscription privilege under which they were permitted to subscribe for additional shares of Common Stock at the Subscription Price.