Declares capital gains distribution
THE SWISS HELVETIA FUND, INC. DECLARES CAPITAL GAINS DISTRIBUTION
NEW YORK, Dec. 3, 2014
The Board of Directors of The Swiss Helvetia Fund, Inc., a closed-end investment company, announced today the declaration of a long-term capital gain distribution in the amount of $2.195 per share. The distribution will be paid on January 23, 2015, in the form of stock, with an option to take cash, to stockholders of record on December 17, 2014. The Fund's shares will trade "ex-dividend" on December 15, 2014. For federal income tax purposes, this distribution will be treated as paid on December 31, 2014, as it was declared by the Fund in December 2014 with a record date in the same month, although the distribution will be paid during January of 2015. The Fund will send stockholders a Form 1099-DIV for calendar year 2014 in early 2015 informing them of how to report this distribution for federal income tax purposes.
The Fund's Board of Directors also announced that it is reviewing various matters in conjunction with the transition efforts of the Fund's new investment adviser and its ongoing repositioning of the Fund's portfolio, including expense reductions and other benefits to the Fund and its stockholders. In light of these matters, as well as the capital gain distribution referred to above, the Board continues to consider additional actions the Fund could take to enhance stockholder value and address the discount at which the Fund's shares have traded. Any further actions by the Board would be announced to stockholders, as appropriate.
As a reminder, the Fund's web domain name and contact information changed as of July 1, 2014 when Schroder Investment Management North America Inc. commenced serving as the Fund's investment adviser. For information on the Fund, please visit www.swzfund.com, call (800) 730-2932 or email email@example.com.
About The Swiss Helvetia Fund, Inc.
The Fund (www.swzfund.com) is a non-diversified, closed-end investment company seeking long-term capital appreciation through investment in equity and equity-linked securities of Swiss companies. Its shares are listed on the NYSE under the symbol "SWZ." The Fund seeks to achieve its investment objective by investing generally in Swiss equity and equity-linked securities that are traded on a Swiss stock exchange, traded at the pre-bourse level of one or more Swiss stock exchanges, traded through a market maker or traded over the counter in Switzerland. The Fund also may invest in Swiss equity and equity-linked securities of Swiss companies that are traded on other major European stock exchanges.
Closed-end funds, unlike open-end funds, are not continuously offered. Typically, shares of closed-end funds are sold in the open market through a stock exchange. Shares of closed-end funds frequently trade at a discount to net asset value. The price of the Fund's shares is determined by a number of factors, several of which are beyond the control of the Fund. Therefore, the Fund cannot predict whether its shares will trade at, below or above net asset value.
The Fund is managed by Schroder Investment Management North America Inc.
About Schroder Investment Management North America Inc.
Schroder Investment Management North America Inc. is a unit of Schroders plc (SDR.L), a global asset management company with approximately $447.7 billion under management as of September 30, 2014. Schroder's clients include major financial institutions including banks and insurance companies, as well as local and public authorities, public and private pension funds, endowments and foundations, intermediaries and advisors, as well as high net worth individuals and retail investors. The firm has built one of the largest networks of offices of any dedicated asset management company with more than 400 portfolio managers and analysts covering the world's investment markets, offering a comprehensive range of products and services.
Schroder Investment Management North America Inc. is an investment advisor registered with the U.S. SEC. It provides asset management products and services to clients in the U.S. and Canada. Schroder Investment Management North America Inc. is an indirect, wholly-owned subsidiary of Schroders plc, a U.K. public company with shares listed on the London Stock Exchange.
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of the Fund's shares in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.