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.