SCHEDULE
13D/A
DATE OF EVENT
WHICH REQUIRES FILING OF THIS STATEMENT
7/13/2022
1. NAME OF REPORTING PERSON
Bulldog Investors, LLP
2. CHECK THE BOX IF MEMBER OF A GROUP a[]
b[]
3. SEC USE ONLY
4. SOURCE OF FUNDS WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e) []
6. CITIZENSHIP OR PLACE OF ORGANIZATION DE
7. SOLE VOTING POWER 3,315
8. SHARED VOTING POWER 324,662
9. SOLE DISPOSITIVE POWER 3,315
10. SHARED DISPOSITIVE POWER 324,662
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON 327,977
(Footnote 1)
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES
[]
13. PERCENT OF CLASS REPRESENTED BY ROW 11 4.39%
14. TYPE OF REPORTING PERSON
IA
1. NAME OF REPORTING PERSON
Phillip Goldstein
2. CHECK THE BOX IF MEMBER OF A GROUP a[]
b[]
3. SEC USE ONLY
4. SOURCE OF FUNDS WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e) []
6. CITIZENSHIP OR PLACE OF ORGANIZATION USA
7. SOLE VOTING POWER 3,315
8. SHARED VOTING POWER 324,662
9. SOLE DISPOSITIVE POWER 3,315
10. SHARED DISPOSITIVE POWER 324,662
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON 327,977
(Footnote 1)
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES
[]
13. PERCENT OF CLASS REPRESENTED BY ROW 11
4.39%
14. TYPE OF REPORTING PERSON
IN
1. NAME OF REPORTING PERSON
Andrew Dakos
2. CHECK THE BOX IF MEMBER OF A GROUP a[]
b[]
3. SEC USE ONLY
4. SOURCE OF FUNDS WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e) []
6. CITIZENSHIP OR PLACE OF ORGANIZATION USA
7. SOLE VOTING POWER 3,315
8. SHARED VOTING POWER 324,662
9. SOLE DISPOSITIVE POWER 3,315
10. SHARED DISPOSITIVE POWER 324,662
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON 327,977
(Footnote 1)
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES
[]
13. PERCENT OF CLASS REPRESENTED BY ROW 11
4.39%
14. TYPE OF REPORTING PERSON
IN
Item 1. SECURITY AND
ISSUER
This statement constitutes Amendment #1 to the schedule 13d
filed July 6, 2022. Except as specifically set forth herein, the
Schedule 13d remains unmodified.
ITEM 4. PURPOSE OF
TRANSACTION
See exhibit A. Letter to the Board of
Directors.
ITEM 5. INTEREST IN SECURITIES
OF THE ISSUER
c) Since the last filing on July 6, 2022 no shares of TWN were
traded.
ITEM 6.
CONTRACTS,ARRANGEMENTS,UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
N/A
ITEM 7. MATERIAL TO BE FILED AS
EXHIBITS
Exhibit A
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement
is true, complete and correct.
Dated: 7/13/2022
By: /S/ Phillip Goldstein
Name: Phillip Goldstein
By: /S/ Andrew Dakos
Name: Andrew Dakos
Bulldog Investors, LLP
By: /s/ Andrew Dakos
Andrew Dakos, Partner
Footnote 1: The reporting persons disclaim beneficial ownership except
to the extent of any pecuniary interest therein.
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Exhibit A:
Bulldog Investors, LLP , 250 Pehle Avenue, Suite 708, Saddle
Brook, NJ 07663
(201) 881-7111 // Fax: (201) 556-0097 //
pgoldstein@bulldoginvestors.com
July 13, 2022
The Board of Directors
The Taiwan Fund, Inc.
c/o State Street Bank & Trust Company
One Lincoln Street
P.O. Box 5049
Boston, MA 02110.
Dear Board Members:
Our clients own about 325,000 shares of The Taiwan Fund.
According to a press release issued on July 8, 2022, "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."
The Fund's shares currently trade at a discount of about 16%. We
believe that it connection with a change of advisers, the Board
should consider affording stockholders an opportunity to monetize a
portion of their shares at a price close to net asset value via a
self-tender offer.
We would like to have a discussion with a representative of the
Board as to how to strike a balance between the desire of those
shareholders that would like to sell some of their shares at a
price higher than the market price and those that want the Fund to
continue as a viable long-term vehicle for investing in Taiwan. If
the proper balance can be achieved, it should be relatively easy
and inexpensive to get stockholder approval for a new advisory
agreement. Please let us know if such a discussion can be arranged.
Thank you.
Sincerely yours,
/S/ Phillip Goldstein
Phillip Goldstein
Managing Partner
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