PR Newswire | Jan 15, 2021 01:58PM EST

01/15 12:57 CST

The Taiwan Fund, Inc. Announces 1st Quarter Earnings NEW YORK, Jan. 15, 2021

NEW YORK, Jan. 15, 2021 /PRNewswire/ -- The Taiwan Fund, Inc. (the "Fund") (NYSE: TWN) announced today details regarding its investment performance for the three month period ended November 30, 2020.

The Fund reported a net asset value per share of $31.51 as of the close of business on November 30, 2020. This represents an increase of $2.72 per share from the net asset value per share of $28.79 reported on August 31, 2020. The Fund had a total return of 9.45% for the three months ended November 30, 2020 based on the change in its net asset value. For the same period the TAIEX Total Return Index returned 12.49% (in US$ terms).

The Fund's share price, as traded on the New York Stock Exchange on November 30, 2020, was $27.19, representing an increase of $3.54 per share from the share price of $23.65 on August 31, 2020. The Fund's discount to net asset value per share remained relatively constant moving from 17.85% on August 31, 2020 to 13.70% on November 30, 2020.

For the three month period ended November 30, 2020, the Fund had net realized gains of $5,809,570 on investments and foreign currency transactions and an increase in net unrealized appreciation of $14,588,248 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 $ 64,324.

Quarter Ended Year Ended Quarter Ended

November 30, August 31, November 30,

2020 2020 2019

Total Net Assets $ 235,289,653 $ 214,956,160 $ 182,899,879

Gross Investment Income $494,721 $ 3,486,531 $270,208

Per Share $0.07 $0.04

Net Investment Income (Loss) $ (64,324) $ 418,067 $ (441,120)

Per Share $(0.01) $(0.06)

Net Realized Gain (Loss) onInvestments and Foreign Currency $ 5,809,570 $ 45,393,478 $ 11,297,555Transactions

Change in Net Unrealized Appreciation(Depreciation) on Investments and $ 14,588,248 $ 26,693,663 $ 13,731,171Foreign Currency Translations

Total Realized and Unrealized Gain $ 20,397,818 $ 72,087,141 $ 25,028,726(Loss) on Investments $2.73 $3.29Per Share

Net Increase (Decrease) in Net Assets $ 20,333,494 $ 24,587,606Resulting from Operations $ 72,505,208 $2.72 $3.23Per Share

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.