Taiwan Fund:TWN

    Manage Alerts

    Overview

    As of 2/23/2024. NAV as of 2/22/2024.

     Share
    Price
    NAVPremium/
    Discount
    Current$38.91$48.15-18.98%
    52 Wk Avg$30.86$38.53-19.87%
    52 Wk High$39.66$49.61-14.92%
    52 Wk Low$25.22$31.53-24.41%
    Regular Distribution TypeIncome Only
    Distribution Rate1.12%
    Distribution Amount$0.4365
    Distribution FrequencyAnnually
    Past performance is no guarantee of future results.

    Basic Information

    Investment Objective

    The Fund’s investment objective is long-term capital appreciation. The Fund seeks to achieve its investment objective through investments primarily in equity securities listed on the Taiwan Stock Exchange in the Republic of China. At least 80% of the Fund’s assets must be invested in Taiwan securities or securities of companies more than 50% of whose assets are based inTaiwan or more than 50% of whose revenue is derived from Taiwan. The Fund’s investment objective and the requirement to invest at least 80% of the Fund’s assets in Taiwan securities may not be changed without the approval of a majority of the Fund’s outstanding voting securities.

    Capital Structure

    As of 2/23/2024

    Total Investment Exposure:$357.628M
    Total Common Assets:$357.628M
    Common Shares Outstanding:7,427,371
    Annual Expense Ratios

    As of 8/31/2023

      Per Common Share
    Management FeesN/A
    Other Expenses:N/A
    Baseline Expense: N/A
    Interest Expense:N/A
    Total: 1.40%
    Fund Management

    Fund Sponsor
    Nomura Asset Management USA Inc

    Portfolio Managers
    Sky Chen, George Hsieh

    Basics
    Category: Equity-Asia Equity
    Ticker: TWN
    NAV Ticker: XXTWNXX
    Average Daily Volume (shares): 15,007
    Average Daily Volume (USD): $0.466M
    Inception Date: 12/23/1986
    Inception Share Price: $22.42
    Inception NAV: $0.00
    Tender Offer: No
    Term: No
    Fiscal Year End: August 31
    Third Party Links & Reports

    Distributions

    As of 2/23/2024

    Past performance is no guarantee of future results.
    Distribution History

    Enter declared start and end dates to display distribution history below. Income, Long Gain, Short Gain and ROC breakdowns will only be shown for the past year.

    Declared Date Payable Date Ex Date Distrib Amount Income Long Gain Short Gain ROC

    *Indicates a Special Distribution: A distribution disbursed in addition to the normal distributions paid out by the company.

    Key Information Regarding Distributions
    Avg. Earnings Per Share:
    As of 8/31/2023
    $0.5049
    Annualized Distribution Rate on NAV:
    As of 2/23/2024
    0.91%
    Total Return on NAV (12 months):
    As of 2/23/2024
    48.54%
    Total % Portfolio Effectively Leveraged:
    As of 2/23/2024
    0.00%

    Pricing Information

    Premium/Discount Information
    Past performance is no guarantee of future results.
    Premium/Discount Information

    As of 2/23/2024

    PeriodAvg Discount
    6 Month-20.98%
    1 Year-19.87%
    3 Year-17.37%
    5 Year-16.35%
    Z-Score

    As of 2/23/2024

    PeriodZStat
    3 Month1.23
    6 Month1.61
    1 Year0.52
    Pricing History
    Date NAV Premium / Discount

    Performance

    Calendar Year Total Returns

    As of 1/31/2024
    Category: Morningstar US CEF Asia Equity

    Past 20 Years

    Return YearPriceNAVCategory - PriceCategory - NAV
    YTD4.54%4.64%-1.98%-2.48%
    202351.71%57.68%10.74%9.26%
    2022-38.54%-36.27%-23.26%-21.26%
    202158.05%53.24%5.48%3.84%
    202040.77%40.41%22.86%21.82%
    201947.03%45.71%19.77%17.57%
    2018-19.10%-16.20%-13.67%-15.54%
    201733.75%28.18%41.49%33.70%
    201610.05%11.17%4.08%4.04%
    2015-10.52%-6.43%-6.16%-4.97%
    2014-1.69%-3.68%9.13%9.11%
    201318.24%19.34%3.25%9.20%
    201212.77%12.23%25.05%20.66%
    2011-21.75%-20.82%  
    201035.14%27.04%  
    200957.07%65.75%  
    2008-47.29%-46.65%  
    200714.09%15.54%  
    200623.42%14.74%  
    200513.53%18.72%  
    200411.60%9.01%  
    Past performance is no guarantee of future results.
    Annualized Total Returns

    Returns for periods less than one year are cumulative rather than annualized

    As of 1/31/2024
    Category: Morningstar US CEF Asia Equity

    Past performance is no guarantee of future results.

    Portfolio Characteristics

    Portfolio Characteristics
    Number of Holdings:
    As of 11/30/2023
    40
    Annual Portfolio Turnover:
    As of 8/31/2023
    70.00%
    Asset Allocation

    As of 11/30/2023

    Top Sectors

    As of 11/30/2023

    Sector%Portfolio
    Sensitive (Super Sector)83.73%
    Technology70.79%
    Industrials11.33%
    Cyclical (Super Sector)7.30%
    Consumer Cyclical6.73%
    Cash Equivalents6.51%
    Cash Equivalents (Super Sector)6.51%
    Consumer Defensive2.45%
    Defensive (Super Sector)2.45%
    Communication Services1.61%
    Top Holdings

    As of 11/30/2023

    HoldingValue% Portfolio
    Taiwan Semiconductor Manufacturing Co Ltd$59.75M19.52%
    eMemory Technology Inc$14.01M4.58%
    Fortune Electric Co Ltd$13.79M4.51%
    MediaTek Inc$12.95M4.23%
    Global Unichip Corp$12.73M4.16%
    Asia Vital Components Co Ltd$12.47M4.07%
    Quanta Computer Inc$12.34M4.03%
    Faraday Technology Corp$12.04M3.93%
    Alchip Technologies Ltd$11.25M3.67%
    Gigabyte Technology Co Ltd$10.46M3.42%
    Country Allocation

    As of 11/30/2023

    Country% Portfolio
    Taiwan - Equity89.26%
    United States - Equity3.67%
    China - Equity0.55%

    Closed-end fund historical distribution sources have included net investment income, realized gains, and return of capital. For more detailed information on the distributions of a specific fund, please visit the sponsor's website.

    NOTES:

    Distribution type sourced from Morningstar. For specific information about a fund's distribution sources, visit the fund sponsor's website.

    The following information applies to closed-end funds in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

    E-2949862P-E0623W