THE TAIWAN FUND, INC. REPORTS RESULTS
THE TAIWAN FUND, INC. REPORTS RESULTS BOSTON, April 29 /PRNewswire/ -- The Taiwan Fund, Inc.
(NYSE: TWN) announced today details regarding its investment performance for the three month period ended Feb. 29, 1992 and for the six months ended Feb. 29, 1992.
The Fund reported a net asset value as of the close of business on Feb. 29, 1992 of $23.03. This is an increase of $2.78 from the $20.25 net asset value reported on Nov. 29, 1991. For the six months ended Feb. 29, 1992, the Fund's net asset value increased $3.36 from the $19.67 reported on Aug. 31, 1991. During the quarter ended Feb. 29, 1992, the Fund had net realized gains on investment transactions of $8,555,213 and net unrealized appreciation of investments of $21,841,126. Net investment loss (consisting of interest income less operating expenses) for the quarter was $(537,215). For the six months ended Feb. 29, 1992, the Fund had net realized gains on investment transactions of $7,497,950 and net unrealized appreciation of investments of $18,955,345. Net investment loss for the period was $(594,547). At Feb. 29, 1992, approximately 60 percent of the Fund's $185 million in net assets was invested in equity securities listed on the Taiwan Stock Exchange, with the balance invested in cash, government obligations and short-term investments. The Taiwan Fund, Inc. is a diversified closed-end investment company which seeks long-term capital appreciation primarily through investments in equity securities listed in the Taiwan Stock Exchange. Shares of the Fund are listed on the New York Stock Exchange. THE TAIWAN FUND INC. Financial Highlights Quarter ended Six months ended 2/29/92 2/29/92 Total income $1,328,862 $1,783,094 Net investment income (loss) $(537,215) $(594,547) Per share $(0.07) per share $(0.08) per share Net realized and unrealized gain on investments $30,396,339 $26,453,295 Per share $3.78 per share $3.43 per share Net increase in net assets resulting from operations $29,859,124 $25,858,748 Per share $3.72 per share $3.35 per share Share price High $30.875 $30.875 Low $24.375 $21.25 -0- 4/29/92 /CONTACT: Gary French of The Taiwan Fund, Inc., 617-570-6286/ (TWN) CO: The Taiwan Fund, Inc. ST: Massachusetts IN: FIN SU: ERN
PB -- NE006 -- 4394 04/29/92 12:42 EDT
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|Date:||Apr 29, 1992|
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