野村资产管理Nomura Asset Management (NMR) 2022年年度报告「NYSE」.pdf

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1、THE TAIWAN FUND,INC.Annual ReportAugust 31,2022THE TAIWAN FUND,INC.WHATS INSIDE.PageChairmans Statement2Report of the Investment Manager3About the Portfolio Manager6Performance7Portfolio Snapshot8Industry Allocation9Schedule of Investments10Financial Statements12Notes To Financial Statements15Report

2、 of Independent Registered Public Accounting Firm22Other Information23Board Deliberations Regarding the Approval of the Investment Advisory Agreement26Summary of Dividend Reinvestment and Cash Purchase Plan32 Investment Objectives and Policies35 Risk Factors and Special Considerations36Directors and

3、 Officers412Chairmans statementDear Stockholders,The TAIEX Total Return Index(in U.S.dollar terms)(“TAIEX”)returned-17.61%during the year ended August 31,2022.The Taiwan equity market was negatively impacted by a number of factors,including regulatory and economic developments in mainland China,COVI

4、D-19 variants,aggressive monetary policy tightening by the United Stated Federal Reserve,and the repercussions from war in Ukraine.The Taiwan Fund,Inc.s(the“Fund”)total return based on net asset value(“NAV”)for the year ended August 31,2022,including reinvestment of the dividend and capital gain pai

5、d on January 10,2022,was-24.42%,an underperformance of 6.81%when compared to its benchmark,the TAIEX.The factors impacting the Funds performance are detailed in the Report of the Investment Manager.The Fund paid a dividend of$2.92 per share on January 10,2022 to stockholders of record on December 28

6、,2021 with an ex-dividend date of December 27,2021.In May,the Fund was informed that the Funds Investment Adviser,Allianz Global Investors US LLC,would be barred from managing the Fund on September 17,2022 as a result of pleading guilty to securities fraud.The Funds Board of Directors commenced a se