The Taiwan Fund, Inc. Announces 3rd Quarter Earnings

15 Jul, 2011, 09:42 ET from The Taiwan Fund, Inc.

NEW YORK, July 15, 2011 /PRNewswire/ -- The Taiwan Fund, Inc. (the "Fund") (NYSE: TWN) announced today details regarding its investment performance for the three month period ended May 31, 2011.

The Fund reported a net asset value per share of $21.46 as of the close of business on May 31, 2011.  This represents an increase of $1.86 per share from the net asset value per share of $19.60 reported on February 28, 2011.  The Fund's share price, as traded on the New York Stock Exchange on May 31, 2011, was $19.54, representing a discount to net asset value of 8.95%.  This represents an increase of $1.65 per share from the share price of $17.89 on February 28, 2011, which represented a discount to net asset value of 8.72%.  The Fund had a total return of 9.49% for the three months ended May 31, 2011 based on the change in its net asset value.  For the same period the Taiwan Stock Exchange Index, a price index and not a total return index, returned 8.50% (in US$ terms).

For the nine month period ended May 31, 2011, the Fund's net asset value per share increased $5.13 per share from the net asset value per share of $16.33 reported on August 31, 2010.  For the nine month period ended May 31, 2011, the share price, as traded on the New York Stock Exchange, increased $4.87 per share from the share price of $14.67 reported on August 31, 2010.  The Fund had a total return of 31.96% for the nine month period ended May 31, 2011 based on the change of its net asset value.  For the same period the Taiwan Stock Exchange Index, a price index and not a total return index, returned 31.93% (in US$ terms).

For the three month period ended May 31, 2011, the Fund had net realized gains of $13,216,991 on investments and foreign currency transactions and a change in net unrealized gains of $22,618,215 on investments and foreign currency translations.  The Fund's net investment loss (consisting of dividend and interest income less operating expenses) for the same period was $1,147,657.

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

Nine Months

Quarter Ended

Nine Months

May 31,

Ended May 31,

May 31,

Ended May 31,

2011

2011

2010

2010

Total Net Assets

398,696,246

398,696,246

276,367,775

276,367,775

Gross Investment Income

63,352

658,911

4,833

269,904

Per Share

$            0.00

$              0.04

$               0.00

$               0.01

Net Investment Income (Loss)

(1,147,657)

(3,022,987)

(985,683)

(2,676,335)

Per Share

$           (0.06)

$             (0.16)

$              (0.05)

$              (0.14)

Net Realized Gain (Loss) on

 Investments and Foreign Currency

13,216,991

46,523,736

14,236,572

27,210,258

Transactions

Change in Net Unrealized

Appreciation (Depreciation)

22,618,215

53,294,626

(15,976,621)

(3,917,941)

on Investments and Foreign

Currency Translations

Total Realized and Unrealized

Gain (Loss) on Investments

35,835,206

99,818,362

(1,740,049)

23,292,317

Per Share

$            1.93

$              5.37

$              (0.09)

1.25

Net Increase (Decrease) in Net

Assets Resulting from Operations

34,687,549

96,795,375

(2,725,732)

20,615,982

Per Share

$            1.87

$              5.21

$              (0.15)

$               1.11

SOURCE The Taiwan Fund, Inc.



RELATED LINKS

http://www.thetaiwanfund.com