The Taiwan Fund, Inc. Announces 3rd Quarter Earnings - AZTV7/Cable 13, Me-TV 7.2, HSN 7.3, Phoenix-Prescott, AZ

The Taiwan Fund, Inc. Announces 3rd Quarter Earnings

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SOURCE The Taiwan Fund, Inc.

NEW YORK, July 15, 2014 /PRNewswire/ -- The Taiwan Fund, Inc. (the "Fund") (NYSE: TWN) announced today details regarding its investment performance for the three month period ended May 31, 2014.

The Fund reported a net asset value per share of $21.76 as of the close of business on May 31, 2014.  This represents an increase of $0.77 per share from the net asset value per share of $20.99 reported on February 28, 2014.  The Fund's share price, as traded on the New York Stock Exchange on May 31, 2014, was $19.76, representing a discount to net asset value of 9.19%.  This represents an increase of $0.85 per share from the share price of $18.91 on February 28, 2014, which represented a discount to net asset value of 9.91%.  The Fund had a total return of 3.67% for the three months ended May 31, 2014 based on the change in its net asset value.  For the same period the Taiwan Stock Exchange Total Return Index returned 6.16% (in US$ terms).

For the nine month period ended May 31, 2014, the Fund's net asset value per share increased $2.46 per share from the net asset value per share of $19.30 reported on August 31, 2013.  For the nine month period ended May 31, 2014, the share price, as traded on the New York Stock Exchange, increased $2.43 per share from the share price of $17.33 reported on August 31, 2013.  The Fund had a total return of 12.75% for the nine month period ended May 31, 2014 based on the change of its net asset value.  For the same period the Taiwan Stock Exchange Total Return Index returned 13.06% (in US$ terms).

For the three month period ended May 31, 2014, the Fund had net realized gains of $19,105,069 on investments and foreign currency transactions and an increase in net unrealized loss of $12,079,828 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 $715,559.

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.


Quarter Ended 

Nine Months


Quarter Ended 

Nine Months


May 31,

Ended May 31,


May 31,

Ended May 31,


2014

2014


2013

2013







Total Net Assets

178,882,541

178,882,541


157,420,620

157,420,620







Gross Investment Income

-

182,894


-

229,548

Per Share

$                  -

$             0.02


$                  -

$             0.03







Net Investment Income (Loss)

(715,559)

(2,139,092)


(736,267)

(2,094,612)

Per Share

$             (0.09)

$            (0.26)


$             (0.09)

$            (0.25)







Net Realized Gain (Loss) on Investments






 and Foreign Currency Transactions

19,105,069

25,314,706


647,403

1,500,989













Change in Net Unrealized 






Appreciation (Depreciation) on Investments

(12,079,828)

16,139,156


4,286,750

12,609,517

and Foreign Currency Translations


















Total Realized and Unrealized 






Gain (Loss) on Investments

7,025,241

41,453,862


4,934,153

14,110,506

Per Share

$              0.85

$             5.04


$              0.59

$             1.68







Net Increase (Decrease) in Net 






Assets Resulting from Operations

6,309,681

39,314,770


4,197,886

12,015,894

Per Share

$              0.77

$             4.78


$              0.50

$             1.43

 

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