DCW Total Return Fund (the Fund), formerly Dividend Capital Global Realty Exposure Fund, is a non-diversified, closed-end management investment company. The Fund’s investment objective is total return. The Fund’s investments are concentrated in the real estate industry. It also invests in a universe of securities and industries. It may invest a portion of its assets in foreign securities. It may also invest in repurchase agreements. The Fund’s investment advisor and administrator is Dividend Capital Investments LLC. Calamos Advisors LLC serves as sub-advisor for the non-real estate portion of the Fund’s assets.