Taiwan Fund Reports Investment Performance for 1st Quarter 2025 with Notable Losses
The Taiwan Fund, Inc., a closed-end investment company trading on the New York Stock Exchange under the ticker symbol TWN, has revealed its financial performance for the first quarter of 2025, concluding a challenging period for investors. The Fund's net asset value (NAV) per share declined to $52.97 by the end of business on November 30, 2024, down from $53.78 on August 31, 2024, marking a decrease of $0.81 per share. This reduction highlights the ongoing volatility in market conditions as the Fund navigates economic fluctuations.
During the three months up to the end of November 2024, the Fund experienced a total return of -1.51%, reflecting the change in NAV. Comparatively, the TAIEX Total Return Index, a benchmark for the Taiwanese stock market, noted a slightly less severe decline of -1.34% in US dollar terms over the same period. Investors have witnessed the share price drop to $42.63, a decline of $2.10 from $44.73 as of August 31, 2024. This represents an increase in the Fund’s discount to NAV per share, which rose significantly from 16.83% to 19.52% within this timeframe.
The detailed financial results revealed that the Fund recorded net realized gains amounting to $3,115,096 derived from both investments and foreign currency transactions. However, this was overshadowed by a notable decrease in net unrealized appreciation, which fell by $9,851,700 during the same period, indicating a challenging landscape for the Fund’s portfolio management.
Despite these pressures, the Fund reported a net investment loss of $27,963 for the quarter, factoring in inherent operating expenses against the gross investment income. This follows a favorable previous year, where the total assets stood at $361,509,514, reflecting a robust performance that has not been sustained in the current economic environment.
When comparing the financial performance year-over-year, total net assets have dipped from $361,509,514 as of August 31, 2024, to $347,890,875. Furthermore, the gross investment income per share has encountered significant fluctuations, declining from $0.14 per share reported previously to just $0.12 per share this quarter, demonstrating the tightening revenue environment facing the Fund.
Looking ahead, The Taiwan Fund, Inc. remains committed to pursuing long-term capital appreciation primarily through investments in the equity securities listed on the Taiwan Stock Exchange. The challenges of 2025, however, underline the necessity for strategic adjustments to adapt to the unpredictable global markets affecting financial outcomes. Investors are encouraged to remain vigilant as the Fund navigates these tumultuous waters.
For additional details regarding the Fund’s strategic positioning, investment holdings, and other inquiries, stakeholders can visit the Fund’s dedicated website at www.thetaiwanfund.com or reach the contact line at 1-800-426-5523. As the market landscape continues to evolve, both current and potential investors should be mindful of the implications of these results on future decisions concerning their investments in the Taiwan Fund.
During the three months up to the end of November 2024, the Fund experienced a total return of -1.51%, reflecting the change in NAV. Comparatively, the TAIEX Total Return Index, a benchmark for the Taiwanese stock market, noted a slightly less severe decline of -1.34% in US dollar terms over the same period. Investors have witnessed the share price drop to $42.63, a decline of $2.10 from $44.73 as of August 31, 2024. This represents an increase in the Fund’s discount to NAV per share, which rose significantly from 16.83% to 19.52% within this timeframe.
The detailed financial results revealed that the Fund recorded net realized gains amounting to $3,115,096 derived from both investments and foreign currency transactions. However, this was overshadowed by a notable decrease in net unrealized appreciation, which fell by $9,851,700 during the same period, indicating a challenging landscape for the Fund’s portfolio management.
Despite these pressures, the Fund reported a net investment loss of $27,963 for the quarter, factoring in inherent operating expenses against the gross investment income. This follows a favorable previous year, where the total assets stood at $361,509,514, reflecting a robust performance that has not been sustained in the current economic environment.
When comparing the financial performance year-over-year, total net assets have dipped from $361,509,514 as of August 31, 2024, to $347,890,875. Furthermore, the gross investment income per share has encountered significant fluctuations, declining from $0.14 per share reported previously to just $0.12 per share this quarter, demonstrating the tightening revenue environment facing the Fund.
Looking ahead, The Taiwan Fund, Inc. remains committed to pursuing long-term capital appreciation primarily through investments in the equity securities listed on the Taiwan Stock Exchange. The challenges of 2025, however, underline the necessity for strategic adjustments to adapt to the unpredictable global markets affecting financial outcomes. Investors are encouraged to remain vigilant as the Fund navigates these tumultuous waters.
For additional details regarding the Fund’s strategic positioning, investment holdings, and other inquiries, stakeholders can visit the Fund’s dedicated website at www.thetaiwanfund.com or reach the contact line at 1-800-426-5523. As the market landscape continues to evolve, both current and potential investors should be mindful of the implications of these results on future decisions concerning their investments in the Taiwan Fund.
Topics Financial Services & Investing）
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