The Taiwan Fund, Inc. Announces 1st Quarter Earnings - Revised

NEW YORK, Jan. 11, 2013 /PRNewswire/ -- This revised press release corrects the return information in the press release issued by The Taiwan Fund, Inc. (the "Fund") (NYSE: TWN) earlier today.

The Fund reported a net asset value per share of $17.36 as of the close of business on November 30, 2012.  This represents an increase of $0.15 per share from the net asset value per share of $17.21 reported on August 31, 2012.  The Fund's share price as traded on the New York Stock Exchange on November 30, 2012 was $15.61, representing a discount to net asset value of 10.08%.  This represents an increase of $0.03 per share from the share price of $15.58 on August 31, 2012, which represented a discount to net asset value of 9.47%.  The Fund had a total return of 0.87% for the three months ended November 30, 2012, based on the change in its net asset value.  For the same period the Taiwan Stock Exchange Index, a price index and not a total return index, returned 5.64% (in US$ terms).

For the three month period ended November 30, 2012, the Fund had net realized loss of $364,808 on investment transactions and a change in net unrealized gain of $1,999,760 on investments held.  The Fund's net investment loss (consisting of dividend and interest income less operating expenses) for the same period was $676,496.

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 1-877-864-5056.

 


Quarter Ended

November 30,

2012

Year Ended

August 31,

2012

Quarter Ended

November 30,

2011





Total Net Assets

$151,349,804

$154,594,073

$300,375,409





Gross Investment Income

$229,548

$6,182,915

$459,750

Per Share

$0.03


$0.02





Net Investment Income (Loss)

$(676,496)

$350,564

$(1,005,536)

Per Share

$(0.08)


$(0.05)





Net Realized Gain (Loss) on Investments and Foreign Currency Transactions

$(364,808)

$(8,619,477)

$(2,957,443)





Change in Net Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations

$1,999,760

$(52,890,945)

$(70,833,208)





Total Realized and Unrealized Gain (Loss) on Investments

$1,634,952

$(61,510,422)

$(73,790,651)

Per Share

$0.19


$(3.97)





Net Increase (Decrease) in Net Assets Resulting from Operations

$958,456

$(61,159,858)

$(74,796,187)

Per Share

$0.11


$(4.03)

 

SOURCE The Taiwan Fund, Inc.



RELATED LINKS
http://www.thetaiwanfund.com

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