Total Return Securities Fund — Director's Dealing 2007

Jul 3, 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 RODOLPHE (President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-06-22	Common Stock	X	3884	$16.6	Acquired	21678	Direct
2007-06-22	Common Stock	X	83	$16.6	Acquired	3967	Indirect
2007-06-22	Common Stock	X	82	$16.6	Acquired	4049	Indirect
2007-06-22	Common Stock	X	82	$16.6	Acquired	4131	Indirect
2007-06-22	Common stock	X	566	$16.6	Acquired	4697	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	11652	Disposed	2007-06-22	Common Stock (3884)	Direct
2007-06-22	Subscription Rights (right to buy)	$16.6	X	249	Disposed	2007-06-22	Common Stock (83)	Indirect
2007-06-22	Subscription Rights ( right to buy)	$16.6	X	246	Disposed	2007-06-22	Common Stock (82)	Indirect
2007-06-22	Subscription Rights (right to buy)	$16.6	X	246	Disposed	2007-06-22	Common Stock (82)	Indirect

Footnotes

F1: Subscription price determined by 92.5% of the average of the last reported sales price per share on teh NYSE for the five trading days ended June 22, 2007 (the Expiration Date).

F2: Henri Hottinger is the son of Rodolphe Hottinger. Prior to the rights offering he owned 247 shares and purchased two additional rights for a total of 249 rights. He exercised 249 rights to purchase 83 additional shares.

F3: Richard Hottinger is the son of Rodolphe Hottinger. Prior to the rights offering he owned 246 shares. He exercised 246 right to purchase 82 shares.

F4: Peter Hottinger is the son of Rodolphe Hottinger. Prior to the rights offering he owned 246 shares. He exercised 246 rights to purchase 82 shares.

F5: Record date stockholders who fully exercised their rights were entitled to an over-subscription privilege under which they were permitted to subscribe for additioanl shares of common stock at the subcription price.

F6: The shares of common stock under item 4 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: 11652 rights issued to Rodolphe Hottinger, 249 rights issued to Henri hottinger, 246 rights issued to Richard Hottinger and 246 rights issued to Peter Hottinger. these rights were acquired on June 29, 2007.