The Taiwan Fund, Inc. Announces 3rd Quarter Earnings

Rhea-AI Summary

The Taiwan Fund, Inc. (NYSE: TWN) reported a net asset value per share of $37.00 as of May 28, 2021, marking an increase from $33.09 as of February 26, 2021. The Fund's share price was $31.55, with a discount of 14.73% to the net asset value. The Fund delivered a total return of 11.82% over the three months and 42.63% over nine months. Notably, net realized gains on investments totaled $16.52 million. However, net investment loss was $(620,273) for the quarter.

Positive

• Net asset value per share increased to $37.00, up $3.91 since February 26, 2021.
• Total return of 11.82% for the last three months outperformed the TAIEX Total Return Index (8.16%).
• Net realized gains from investments reached $16.52 million during the quarter.

Negative

• Net investment loss of $(620,273) raises concerns about income generation.
• Share price discount to net asset value increased to 14.73%, which may indicate weakness in market perception.

NEW YORK, July 20, 2021 /PRNewswire/ -- The Taiwan Fund, Inc. (the "Fund") (NYSE: TWN) announced today details regarding its investment performance for the three-month period ended May 31, 2021.

The Fund reported a net asset value per share of $37.00 as of the close of business on May 28, 2021. This represents an increase of $3.91 per share from the net asset value per share of $33.09 reported on Feb 26, 2021. The Fund's share price, as traded on the New York Stock Exchange on May 28, 2021, was $31.55, representing a discount to net asset value of 14.73%. This represents an increase of $3.03 per share from the share price of $28.52 on February 26, 2021, which represented a discount to net asset value of 13.81%. The Fund had a total return of 11.82% for the three months ended May 31, 2021 based on the change in its net asset value. For the same period the TAIEX Total Return Index returned 8.16% (in US$ terms).

For the nine month period, the Fund's net asset value per share increased $8.21 per share from the net asset value per share of $28.79 reported on August 31, 2020.  For the nine month period ended May 31, 2021, the share price, as traded on the NYSE, increased $7.90 per share from the share price of $23.65 reported on August 31, 2020.  The Fund had a total return of 42.63% for the nine month period ended May 31, 2021 based on the change of its net asset value. For the same period the TAIEX Total Return Index returned 42.89% (in US$ terms).

For the three month period ended May 31, 2021, the Fund had net realized gain of $16,522,829 on investments and foreign currency transactions and an increase in net unrealized appreciation of $13,090,266 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 $620,273.

	Quarter Ended	Nine Months		Quarter Ended	Nine Months
	May 31,	Ended May 31,		May 31,	Ended May 31,
	2021	2021		2020	2020
Total Net Assets	$276,327,832	$276,327,832		$174,844,066	$174,844,066
Gross Investment Income	$361,700	$1,310,785		$290,113	$805,948
Per Share	$0.05	$0.18		$0.04	$0.11
Net Investment Income (Loss)	$(620,273)	$(804,802)		$(444,671)	$(1,378,672)
Per Share	$(0.08)	$(0.11)		$(0.06)	$(0.18)
Net Realized Gain (Loss) on Investments
and Foreign Currency Transactions	$16,522,829	$43,694,624		$(4,317,876)	$19,210,922
Change in Net Unrealized
Appreciation (Depreciation) on Investments	$13,090,266	$43,152,613		$10,240,044	$13,821,366
and Foreign Currency Translations
Total Realized and Unrealized
Gain (Loss) on Investments	$29,613,094	$86,847,237		$5,922,168	$33,032,287
Per Share	$3.96	$11.63		$0.79	$4.42
Net Increase (Decrease) in Net
Assets Resulting from Operations	$28,992,882	$86,042,435		$5,477,497	$31,653,615
Per Share	$3.88	$11.52		$0.73	$4.24

*****

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 1-800-426-5523.     

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SOURCE The Taiwan Fund, Inc.

FAQ

What was the net asset value per share of TWN as of May 28, 2021?

The net asset value per share of TWN was $37.00.

How did TWN perform in the last quarter?

TWN reported a total return of 11.82% for the three months ended May 31, 2021.

What were the recent gains reported by TWN?

TWN reported net realized gains of $16.52 million on investments and foreign currency transactions.

Did TWN incur any investment losses?

Yes, TWN reported a net investment loss of $(620,273) for the three months ended May 31, 2021.

How does TWN's performance compare to the TAIEX Total Return Index?

TWN's total return of 11.82% exceeded the TAIEX Total Return Index's return of 8.16% for the same period.