The Taiwan Fund, Inc. Announces 3rd Quarter Earnings

NEW YORK, July 13, 2012 /PRNewswire/ -- The Taiwan Fund, Inc. (the "Fund") (NYSE: TWN) announced today details regarding its investment performance for the three month period ended May 31, 2012.

The Fund reported a net asset value per share of $16.43 as of the close of business on May 31, 2012.  This represents a decrease of $2.08 per share from the net asset value per share of $18.51 reported on February 29, 2012.  The Fund's share price, as traded on the New York Stock Exchange on May 31, 2012, was $15.53, representing a discount to net asset value of 5.48%.  This represents a decrease of $1.65 per share from the share price of $17.18 on February 29, 2012, which represented a discount to net asset value of 7.19%.  The Fund had a total return of -11.18% for the three months ended May 31, 2012 based on the change in its net asset value.  For the same period the Taiwan Stock Exchange Index, a price index and not a total return index, returned -11.46% (in US$ terms).

For the nine month period ended May 31, 2012, the Fund's net asset value per share decreased $3.77 per share from the net asset value per share of $20.20 reported on August 31, 2011.  For the nine month period ended May 31, 2012, the share price, as traded on the New York Stock Exchange, decreased $2.56 per share from the share price of $18.09 reported on August 31, 2011.  The Fund had a total return of -15.50% for the nine month period ended May 31, 2012 based on the change of its net asset value.  For the same period the Taiwan Stock Exchange Index, a price index and not a total return index, returned -8.33% (in US$ terms).

For the three month period ended May 31, 2012, the Fund had net realized gains of $15,078,101 on investments and foreign currency transactions and a change in net unrealized loss of $52,524,554 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 $1,127,771.

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,


2012

2012


2011

2011







Total Net Assets

305,259,107

305,259,107


398,696,246

398,696,246







Gross Investment Income

-

459,770


63,352

658,911

Per Share

$                  -

$              0.02


$               0.00

$               0.04







Net Investment Income (Loss)

(1,127,771)

(3,191,036)


(1,147,657)

(3,022,987)

Per Share

$           (0.06)

$             (0.17)


$              (0.06)

$              (0.16)







Net Realized Gain (Loss) on






  Investments and Foreign Currency

15,078,101

6,059,109


13,216,991

46,523,736

 Transactions












Change in Net Unrealized 






Appreciation (Depreciation) 

(52,524,554)

(62,379,779)


22,618,215

53,294,626

on Investments and Foreign 






Currency Translations












Total Realized and Unrealized 






Gain (Loss) on Investments

(37,446,453)

(56,320,670)


35,835,206

99,818,362

Per Share

$           (2.02)

$             (3.03)


$               1.93

5.37







Net Increase (Decrease) in Net 






Assets Resulting from Operations

(38,574,224)

(59,511,706)


34,687,549

96,795,375

Per Share

$           (2.08)

$             (3.20)


$               1.87

$               5.21

 

SOURCE The Taiwan Fund, Inc.



RELATED LINKS
http://www.thetaiwanfund.com

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