The Taiwan Fund, Inc. Announces Schedule for Selection and Approval of New Investment Adviser

BOSTON, July 8, 2022 /PRNewswire/ -- The Taiwan Fund, Inc. (NYSE: TWN) (the "Fund"), announced today that, having exhausted efforts to obtain relief from Allianz Global Investors US LLC ("AGI") and the Securities and Exchange Commission (the "SEC") permitting the Fund to continue to receive the services of an Allianz portfolio management team based in Taiwan, the Fund's Board will now focus on selecting a new investment adviser to replace AGI. The Board expects to announce the replacement adviser selected by the Board by the end of July 2022 and to seek stockholder approval of the new adviser at a special meeting of stockholders to be held early in September 2022.

As announced in May by the Fund, AGI was barred from advising the Fund as a result of having plead guilty to violations of the federal security laws, subject to a waiver of the bar by the SEC until September 17, 2022.

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 1-877-217-9502.

SOURCE The Taiwan Fund, Inc.