The Taiwan Fund, Inc. Announces 3rd Quarter Earnings

NEW YORK, July 20, 2021 /PRNewswire/ — The Taiwan Fund, Inc. (the “Fund”) (NYSE: TWN) announced today details regarding its investment performance for the three-month period ended May 31, 2021.

The Fund reported a net asset value per share of $37.00 as of the close of business on May 28, 2021. This represents an increase of $3.91 per share from the net asset value per share of $33.09 reported on Feb 26, 2021. The Fund’s share price, as traded on the New York Stock Exchange on May 28, 2021, was $31.55, representing a discount to net asset value of 14.73%. This represents an increase of $3.03 per share from the share price of $28.52 on February 26, 2021, which represented a discount to net asset value of 13.81%. The Fund had a total return of 11.82% for the three months ended May 31, 2021 based on the change in its net asset value. For the same period the TAIEX Total Return Index returned 8.16% (in US$ terms).

For the nine month period, the Fund’s net asset value per share increased $8.21 per share from the net asset value per share of $28.79 reported on August 31, 2020.  For the nine month period ended May 31, 2021, the share price, as traded on the NYSE, increased $7.90 per share from the share price of $23.65 reported on August 31, 2020.  The Fund had a total return of 42.63% for the nine month period ended May 31, 2021 based on the change of its net asset value. For the same period the TAIEX Total Return Index returned 42.89% (in US$ terms).

For the three month period ended May 31, 2021, the Fund had net realized gain of $16,522,829 on investments and foreign currency transactions and an increase in net unrealized appreciation of $13,090,266 on investments and foreign currency transactions. The Fund’s net investment loss (consisting of dividend and interest income less operating expenses) for the same period was $620,273.


Quarter Ended

Nine Months


Quarter Ended

Nine Months


May 31,

Ended May 31,


May 31,

Ended May 31,


2021

2021


2020

2020







Total Net Assets

$276,327,832

$276,327,832


$174,844,066

$174,844,066







Gross Investment Income

$361,700

$1,310,785


$290,113

$805,948

Per Share

$0.05

$0.18


$0.04

$0.11







Net Investment Income (Loss)

$(620,273)

$(804,802)


$(444,671)

$(1,378,672)

Per Share

$(0.08)

$(0.11)


$(0.06)

$(0.18)







Net Realized Gain (Loss) on Investments






 and Foreign Currency Transactions

$16,522,829

$43,694,624


$(4,317,876)

$19,210,922







Change in Net Unrealized






Appreciation (Depreciation) on Investments

$13,090,266

$43,152,613


$10,240,044

$13,821,366

and Foreign Currency Translations












Total Realized and Unrealized






Gain (Loss) on Investments

$29,613,094

$86,847,237


$5,922,168

$33,032,287

Per Share

$3.96

$11.63


$0.79

$4.42







Net Increase (Decrease) in Net






Assets Resulting from Operations

$28,992,882

$86,042,435


$5,477,497

$31,653,615

Per Share

$3.88

$11.52


$0.73

$4.24

*****

The Fund is a diversified closed-end investment company, which seeks long term capital appreciation primarily through investments in equity securities listed on the Taiwan Stock Exchange.  Shares of the Fund are listed on the New York Stock Exchange under the ticker symbol “TWN.”

For additional information on the Fund, including information on the Fund’s holdings, visit the Fund’s website at www.thetaiwanfund.com or call 1-800-426-5523.     

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SOURCE The Taiwan Fund, Inc.

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