TWN Taiwan Fund Inc

EDISON EQUITY RESEARCH: THE TAIWAN FUND - GROWTH-BIASED WITH AN EMPHASIS ON TECHNOLOGY

The Taiwan Fund, Inc. (TWN) seeks long-term capital appreciation, primarily through equity investments listed in Taiwan. It is a closed-end company listed on the New York Stock Exchange. The current investment adviser took over portfolio management in July last year and the profile of the fund has changed noticeably with the move to an overweight position in technology sectors and a doubling in the number of holdings. This, signs of stabilisation in performance following a soft period and a resumption of a discount management programme suggest TWN may now attract broader interest among investors looking for managed exposure to the Taiwan market.

The Taiwan Fund seeks long-term capital appreciation, primarily through equity investments listed in Taiwan. Launched in 1986, the fund has changed asset manager on four occasions from 2010, with the latest change taking place on 22 July 2014 when the current investment adviser, JF International Management Inc. (part of J.P. Morgan Asset Management) was appointed. The portfolio is diversified and the intention is to maintain exposure to a broad spectrum of Taiwan’s economy.

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