2014

The Taiwan Fund, Inc. Announces 1st Quarter Earnings

NEW YORK, Jan. 14, 2014 /PRNewswire/ -- The Taiwan Fund, Inc. (the "Fund") (NYSE: TWN) announced today details regarding its investment performance for the three month period ended November 30, 2013.

The Fund reported a net asset value per share of $21.30 as of the close of business on November 30, 2013.  This represents an increase of $2.00 per share from the net asset value per share of $19.30 reported on August 31, 2013.  The Fund's share price as traded on the New York Stock Exchange on November 30, 2013 was $19.01, representing a discount to net asset value of 10.75%.  This represents an increase of $1.68 per share from the share price of $17.33 on August 31, 2013, which represented a discount to net asset value of 10.21%.  The Fund had a total return of 10.4% for the three months ended November 30, 2013, based on the change in its net asset value.  For the same period the Taiwan Stock Exchange Total Return Index returned 6.1% (in US$ terms).

For the three month period ended November 30, 2013, the Fund had net realized gain of $4,399,192 on investment transactions and a change in net unrealized gain of $12,616,205 on investments held.  The Fund's net investment loss (consisting of dividend and interest income less operating expenses) for the same period was $564,389.

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,

2013

Year Ended

August 31,

2013

Quarter Ended

November 30,

2012





Total Net Assets

$175,140,635

$158,689,627

$151,349,804





Gross Investment Income

$182,894

$5,188,589

$229,548

Per Share

$0.02


$0.03





Net Investment Income (Loss)

$(564,389)

$1,118,186

$(676,496)

Per Share

$(0.07)


$(0.08)





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

$4,399,192

$3,909,519

$(364,808)





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

$12,616,205

$11,425,018

$1,999,760





Total Realized and Unrealized Gain (Loss) on Investments

$17,015,397

$15,334,537

$1,634,952

Per Share

$2.07


$0.19





Net Increase (Decrease) in Net Assets Resulting from Operations

$16,451,008


$958,456

Per Share

$2.00

$16,452,723

$0.11

SOURCE The Taiwan Fund, Inc.



RELATED LINKS
http://www.thetaiwanfund.com

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