The Taiwan Fund, Inc. Announces 3rd Quarter Earnings

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Rhea-AI Summary

The Taiwan Fund, Inc. (NYSE: TWN) reported its Q3 2024 earnings, showing positive performance. The fund's net asset value increased to $49.64 per share, up $1.26 from the previous quarter. The share price rose to $39.84, representing a 19.74% discount to NAV. For the three-month period, TWN had a total return of 2.60% based on NAV change, underperforming the TAIEX Total Return Index's 9.46% return.

Over the nine-month period, TWN's NAV increased by $9.91 per share, with a total return of 26.56%, slightly outperforming the benchmark's 26.08%. The fund reported net realized gains of $18,996,701 and a decrease in unrealized appreciation of $13,057,608. Net investment income for the quarter was $946,970.

Positive

Net asset value per share increased by $1.26 to $49.64
Share price rose by $1.02 to $39.84
Total return of 26.56% for the nine-month period, outperforming the benchmark
Net realized gains of $18,996,701 on investments and foreign currency transactions
Net investment income of $946,970 for the quarter

Negative

Fund underperformed the TAIEX Total Return Index in the three-month period (2.60% vs 9.46%)
Decrease in net unrealized appreciation of $13,057,608 on investments and foreign currency transactions

News Market Reaction – TWN

-2.70%

1 alert

-2.70% News Effect

On the day this news was published, TWN declined 2.70%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

07/19/2024 - 06:39 PM

BOSTON, July 19, 2024 /PRNewswire/ -- The Taiwan Fund, Inc. (the "Fund") (NYSE: TWN) announced today details regarding its investment performance for the three month period ended May 31, 2024.

The Fund reported a net asset value per share of $49.64 as of the close of business on May 31, 2024. This represents an increase of $1.26 per share from the net asset value per share of $48.38 reported on Feb 29, 2024. The Fund's share price, as traded on the New York Stock Exchange on May 31, 2024, was $39.84, representing a discount to net asset value of 19.74%. This represents an increase of $1.02 per share from the share price of $38.82 on February 29, 2024, which represented a discount to net asset value of 19.76%. The Fund had a total return of 2.60% for the three months ended May 31, 2024 based on the change in its net asset value. For the same period the TAIEX Total Return Index returned 9.46% (in US$ terms).

For the nine month period ended May 31, 2024, the Fund's net asset value per share increased $9.91 per share from the net asset value per share of $39.73 reported on August 31, 2023. For the nine month period ended May 31, 2024, the share price, as traded on the NYSE, increased $8.74 per share from the share price of $31.10 reported on August 31, 2023. The Fund had a total return of 26.56% for the nine month period ended May 31, 2024 based on the change in its net asset value. For the same period the TAIEX Total Return Index returned 26.08% (in US$ terms).

For the three month period ended May 31, 2024, the Fund had net realized gains of $18,996,701 on investments and foreign currency transactions and a decrease in net unrealized appreciation of $13,057,608 on investments and foreign currency transactions. The Fund's net investment income (consisting of dividend and interest income less operating expenses) for the same period was $946,970.

	Quarter Ended	Nine Months Ended	Quarter Ended	Nine Months Ended
	May 31,	May 31,	May 31,	May 31,
	2024	2024	2023	2023

Total Net Assets	$345,529,574	$345,529,574	$266,972,230	$266,972,230

Gross Investment Income	$1,194,955	$2,864,649	$781,065	$1,648,946
Per Share	$0.16	$0.40	$0.10	$0.22

Net Investment Income (Loss)	$946,970	$655,782	$(65,714)	$(730,041)
Per Share	$0.13	$0.09	$(0.01)	$(0.10)

Net Realized Gain (Loss) on Investments
and Foreign Currency Transactions	$18,996,701	$34,938,340	$1,210,255	$(3,465,932)

Change in Net Unrealized
Appreciation (Depreciation) on Investments	$(13,057,608)	$35,385,682	$24,413,350	$47,352,607
and Foreign Currency Translations

Total Realized and Unrealized
Gain (Loss) on Investments	$5,939,093	$70,324,022	$25,623,605	$42,886,675
Per Share	$0.82	$9.70	$3.43	$5.87

Net Increase (Decrease) in Net
Assets Resulting from Operations	$6,886,063	$70,979,804	$25,557,891	$43,156,634
Per Share	$0.95	$9.79	$3.42	$5.78

*****

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.

CONTACT:
Brian F. Link, Secretary
1-800-426-5523
www.thetaiwanfund.com

View original content:https://www.prnewswire.com/news-releases/the-taiwan-fund-inc-announces-3rd-quarter-earnings-302201958.html

SOURCE The Taiwan Fund, Inc.

FAQ

What was The Taiwan Fund's (TWN) net asset value per share as of May 31, 2024?

The Taiwan Fund's net asset value per share was $49.64 as of May 31, 2024, representing an increase of $1.26 from the previous quarter.

How did The Taiwan Fund (TWN) perform compared to its benchmark index in Q3 2024?

The Taiwan Fund had a total return of 2.60% for the three months ended May 31, 2024, while the TAIEX Total Return Index returned 9.46% in US$ terms, indicating underperformance by the fund.

What were The Taiwan Fund's (TWN) net realized gains for the quarter ended May 31, 2024?

The Taiwan Fund reported net realized gains of $18,996,701 on investments and foreign currency transactions for the quarter ended May 31, 2024.

What was The Taiwan Fund's (TWN) total return for the nine-month period ended May 31, 2024?

The Taiwan Fund had a total return of 26.56% for the nine-month period ended May 31, 2024, based on the change in its net asset value.

The Taiwan Fund, Inc. Announces 3rd Quarter Earnings