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.
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SOURCE The Taiwan Fund, Inc.