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)
THREE WORLD FINANCIAL CENTER, 200 VESEY STREET, 10TH FLOOR
NEW YORK, NEW YORK 10281-1010
(Address of principal executive offices) (Zip code)
CLIFFORD E. LAI, PRESIDENT
THE HYPERION TOTAL RETURN FUND, INC.
THREE WORLD FINANCIAL CENTER, 200 VESEY STREET, 10TH FLOOR
NEW YORK, NEW YORK 10281-1010
(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, 2005 through June 30, 2006
Item 1. Proxy Voting Record.
Vote Summary Report
July 01, 2005 - June 30, 2006
Ballot Management Management
Name Ticker Security Meeting Item Item or Vote Vote
ID Date Number Description Shareholder Rec Cast
---- ------ -------- -------- ------- ----------- ----------- ----- ------
Duke Realty DREXP 264411885 4/26/2006 1 Elect Directors Management For None
Corporation
Ratify reappointment
of independent public Management For None
2 accountant
Ballot Management Management
Name Ticker Security Meeting Item Item or Vote Vote
ID Date Number Description Shareholder Rec Cast
---- ------ -------- -------- ------- ----------- ----------- ----- ------
MFA Mortgage MFA 55272X201 5/25/2006 1 Elect Directors Management For None
Investments, Inc.
Ratify appointment of
independent public Management For None
2 accountant
Ballot Management Management
Name Ticker Security Meeting Item Item or Vote Vote
ID Date Number Description Shareholder Rec Cast
---- ------ -------- -------- ------- ----------- ----------- ----- ------
Opteum Inc. OPX 68384A100 4/28/2006 1 Elect Directors Management For None
Ratify appointment of
2 independent public Management For None
accountant
Convert shares of
Class A
3(a) Preferred into Class A Management For None
Common Stock
(b) Authorize the issuance
of shares of Class
A Common Stock in
lieu of any shares
of Class B Redeemable Management For None
Preferred Stock,
relating to the
acquisition of its
subsidiary
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 31, 2006