Welcome to our dedicated page for Taiwan Fund news (Ticker: TWN), a resource for investors and traders seeking the latest updates and insights on Taiwan Fund stock.
Taiwan Fund, Inc. (NYSE: TWN) is a diversified closed-end management investment company, specializing in long-term capital appreciation through investments primarily in equity securities listed on the Taiwan Stock Exchange and the Republic of China. The Fund's investment strategy focuses on identifying companies with strong growth prospects, competitive positions, advanced technology, robust research and development, high productivity, healthy profit margins, attractive return on investment, and solid capital resources. Additionally, the Fund takes into account factors such as government regulation and management quality.
As of May 31, 2023, Taiwan Fund, Inc. reported a net asset value (NAV) per share of $35.74, up from $32.32 on February 28, 2023, reflecting an increase of $3.42 per share. The Fund's share price on the New York Stock Exchange was $28.67, compared to $26.71 on February 28, 2023. This indicates a discount to NAV of 19.78%, slightly higher than the previous discount of 17.36%.
The Fund achieved a total return of 10.58% for the three months ended May 31, 2023, outperforming the TAIEX Total Return Index, which posted a return of 6.40% in US dollar terms. Over the nine-month period ended May 31, 2023, the Fund's NAV per share increased by $5.78, from $29.96 on August 31, 2022. During the same period, the share price rose by $3.47, from $25.20 on August 31, 2022. This corresponds to a total return of 19.29%, while the TAIEX Total Return Index returned 17.70% in US dollar terms.
For the three months ended May 31, 2023, the Fund reported net realized gains of $1,210,255 on investments and foreign currency transactions, and an increase in net unrealized appreciation of $24,413,350 on investments and foreign currency transactions. The Fund's net investment income for the same period was $781,065, consisting of dividend and interest income less operating expenses.
Taiwan Fund, Inc. aims to offer investors significant growth potential by leveraging its expertise in the Taiwanese market. The Fund is listed on the New York Stock Exchange under the ticker symbol 'TWN.' For more information about the Fund and its holdings, visit its official website at www.thetaiwanfund.com or call 1-800-426-5523.
The Taiwan Fund, Inc. (TWN) held its Annual Stockholders Meeting on April 25, 2023, where stockholders re-elected five directors for one-year terms. The re-elected directors include William C. Kirby, Shelley E. Rigger, Anthony S. Clark, Thomas G. Kamp, and Warren J. Olsen. The voting results were significant, with Kirby receiving 6,258,565 votes in favor and 453,833 against, while Rigger gained 6,372,981 votes for and 339,418 against. The Fund operates as a diversified closed-end investment company, focusing on long-term capital appreciation through investments in equity securities on the Taiwan Stock Exchange. Shares of the Fund are traded on the New York Stock Exchange under the ticker symbol 'TWN.'
The Taiwan Fund, Inc. (TWN) announced that due to the Taiwanese market closure for the Chinese New Year, it will calculate its net asset value (NAV) from January 18 to January 29, 2023. This calculation will be based on portfolio holdings and their market prices as of the last trading day, January 17, 2023, adjusted for U.S. dollar and Taiwanese dollar exchange rate fluctuations. The Taiwan Stock Exchange will re-open on January 30, 2023. The Fund focuses on long-term capital appreciation through investments in equity securities listed on the Taiwan Stock Exchange.
The Taiwan Fund, Inc. (TWN) announced on September 19, 2022, that Nomura Asset Management U.S.A. Inc. will now manage its portfolio. The Taiwan Fund is a closed-end investment company focusing on long-term capital appreciation through investments primarily in equity securities listed on the Taiwan Stock Exchange. TWN shares are traded on the New York Stock Exchange. For further details about the Fund's holdings, visit www.thetaiwanfund.com.
The Taiwan Fund, Inc. (TWN) held a Special Stockholders Meeting on September 6, 2022, where stockholders approved a new Investment Advisory Agreement with Nomura Asset Management U.S.A. Inc. Nearly 97% of votes were cast in favor, with 5,848,196 shares voting for and only 198,141 against. The Taiwan Fund aims for long-term capital appreciation through investments primarily in equity securities on the Taiwan Stock Exchange, and its shares trade on the New York Stock Exchange under the ticker symbol 'TWN.'
The Taiwan Fund, Inc. (NYSE: TWN) has selected Nomura Asset Management U.S.A. Inc. as its new Investment Adviser, pending stockholder approval at a special meeting on September 6, 2022. Nomura, with total assets under management of US$463.4 billion, aims to enhance the Fund's investment performance through a team-based, growth-oriented strategy. The proposed agreement includes a base fee of 0.60% and a performance adjustment based on returns relative to the TAIEX Total Return Index, aligning interests with shareholders. The Fund focuses on long-term capital appreciation through investments in Taiwan-listed equities.
The Taiwan Fund, Inc. (NYSE: TWN) reported a net asset value of $35.18 per share as of May 31, 2022, down $5.18 from $40.36 on February 28, 2022. The Fund's share price was $28.34, reflecting a 19.44% discount to NAV. Total return for the quarter was -12.83%, compared to a -7.79% return for the TAIEX Total Return Index. For the nine months ended May 31, 2022, NAV per share fell $7.65, and the Fund experienced a net realized loss of $16,177,574 on investments.
The Taiwan Fund, Inc. (NYSE: TWN) announced its plans to select a new investment adviser, replacing Allianz Global Investors US LLC (AGI), after exhausting efforts to secure relief from AGI's SEC-imposed advisory ban. The Fund's Board will announce the new adviser by the end of July 2022 and seek shareholder approval in early September 2022. AGI was barred due to violations of federal securities laws, with a waiver from the SEC valid until September 17, 2022. The Fund focuses on long-term capital appreciation through investments in equity securities on the Taiwan Stock Exchange.
On May 17, 2022, Allianz Global Investors U.S. LLC (AGI US) pled guilty to securities fraud in the U.S. District Court for the Southern District of New York. The U.S. SEC also imposed a cease-and-desist order against AGI US for violations linked to a discontinued offering of private funds. The SEC granted a temporary exemption to allow AGI US to remain an adviser to closed-end investment funds for four months, covering transition costs. The Taiwan Fund, Inc. (TWN) is now assessing options for a replacement adviser, pending stockholder approval.
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