NEW YORK, July 27, 2017 /PRNewswire/ -- The Taiwan
Fund, Inc. (the "Fund") (NYSE: TWN) announced today details
regarding its investment performance for the three month period
ended May 31, 2017.
The Fund reported a net asset value per share of $21.54 as of the close of business on
May 31, 2017. This represents
an increase of $1.30 per share from
the net asset value per share of $20.24 reported on February 28, 2017. The Fund's share price,
as traded on the New York Stock Exchange (the "NYSE") on
May 31, 2017, was $19.29, representing a discount to net asset
value of 10.45%. This represents an increase of $1.91 per share from the share price of
$17.38 on February 28, 2017, which represented a discount
to net asset value of 14.13%. The Fund had a total return of
6.42% for the three months ended May 31,
2017 based on the change in its net asset value. For
the same period the Taiwan Stock Exchange Total Return Index
returned 4.90% (in US$ terms).
For the nine month period ended May 31,
2017, the Fund's net asset value per share increased
$1.74 per share from the net asset
value per share of $19.80 reported on
August 31, 2016. For the nine
month period ended May 31, 2017, the
share price, as traded on the NYSE, increased $2.33 per share from the share price of
$16.96 reported on August 31, 2016. The Fund had a total
return of 8.79% for the nine month period ended May 31, 2017 based on the change of its net asset
value. For the same period the Taiwan Stock Exchange Total Return
Index returned 18.01% (in US$ terms).
For the three month period ended May 31,
2017, the Fund had a net realized gain of $8,162,427 on investments and foreign currency
transactions and an increase in a net unrealized gain of
$3,196,527 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 $753,824.
|
Quarter
Ended
|
Nine
Months
|
|
Quarter
Ended
|
Nine
Months
|
|
May 31,
|
Ended May
31,
|
|
May 31,
|
Ended May
31,
|
|
2017
|
2017
|
|
2016
|
2016
|
|
|
|
|
|
|
|
Total Net
Assets
|
176,794,846
|
176,794,846
|
|
141,710,745
|
141,710,745
|
|
|
|
|
|
|
|
Gross Investment
Income
|
4
|
390,665
|
|
13,348
|
441,029
|
|
Per
Share
|
$-
|
$0.05
|
|
$-
|
$0.05
|
|
|
|
|
|
|
|
Net Investment Income
(Loss)
|
(753,824)
|
(1,870,197)
|
|
(682,956)
|
(1,771,211)
|
|
Per
Share
|
($0.09)
|
($0.23)
|
|
($0.08)
|
($0.22)
|
|
|
|
|
|
|
|
Net Realized Gain
(Loss) on Investments
|
|
|
|
|
|
|
and Foreign
Currency Transactions
|
8,162,427
|
7,479,185
|
|
(1,327,529)
|
(10,093,755)
|
|
|
|
|
|
|
|
Change in Net
Unrealized
|
|
|
|
|
|
|
Appreciation
(Depreciation) on Investments
|
3,196,527
|
8,607,818
|
|
5,564,962
|
18,920,234
|
|
and Foreign Currency
Translations
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Realized and
Unrealized
|
|
|
|
|
|
|
Gain (Loss) on
Investments
|
11,358,954
|
16,087,003
|
|
4,237,433
|
8,826,479
|
|
Per
Share
|
$1.38
|
$1.96
|
|
$0.52
|
$1.07
|
|
|
|
|
|
|
|
Net Increase
(Decrease) in Net
|
|
|
|
|
|
|
Assets Resulting from
Operations
|
10,605,130
|
14,216,806
|
|
3,554,478
|
7,055,268
|
|
Per
Share
|
$1.29
|
$1.73
|
|
$0.43
|
$0.86
|
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.
(End)
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SOURCE The Taiwan Fund, Inc.