UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-PX
ANNUAL REPORT OF PROXY VOTING RECORD OF
REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number 811-05820
THE HYPERION TOTAL RETURN FUND, INC.
(Exact name of registrant as specified in charter)
ONE LIBERTY PLAZA, 165 BROADWAY, 36TH FLOOR
NEW YORK, NEW YORK 10006-1404
(Address of principal executive offices) (Zip code)
CLIFFORD E. LAI, PRESIDENT
THE HYPERION TOTAL RETURN FUND, INC.
ONE LIBERTY PLAZA, 165 BROADWAY, 36TH FLOOR
NEW YORK, NEW YORK, 10006-1404
(Name and address of agent for service)
Registrant's telephone number, including area code: 1 (800) Hyperion
Date of fiscal year end: November 30
Date of reporting period: July 1, 2004 through June 30, 2005
Item 1. Proxy Voting Record.
Vote Summary Report
July 01, 2004 - June 30, 2005
Ballot Item Description Management Management Vote
Meeting Item or Vote Rec Cast
Name Ticker Security ID Date Number Shareholder
McMorgan
High Yield MCMHX 582452868 8/24/2004 1 Elect Trustees Management For None
Fund
2(a) Amend investment Management For None
restriction on
lending
(b) Amend investment Management For None
restriction on
borrowing
(c) Amend investment
restriction on Management For None
commodities
(d) Amend investment
restriction on senior Management For None
securities
(e) Amend investment
restriction on real Management For None
estate
(f) Amend investment
restriction on Management For None
concentration
(g) Amend investment
restriction on Management For None
underwriting
Approve elimination of
certain fundamental Management For None
3 investment restrictions
Ballot Item Description Management Management Vote
Meeting Item or Vote Rec Cast
Name Ticker Security ID Date Number Shareholder
Seix High SAMHX 78476A843 9/23/2004 1 Approve new Agreement and Management For None
Yield Fund Plan of Reorganization
2 Approve new investment Management For None
advisory agreement
SIGNATURES
Pursuant to the requirements of the Investment Company Act of 1940, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
THE HYPERION TOTAL RETURN FUND, INC.
By: /s/ Clifford E. Lai
-------------------------
Clifford E. Lai
Principal Executive Officer
Date: August 30, 2005