The Taiwan Fund, Inc. (the Fund) is a diversified, closed-end management investment company. The Fund's investment objective is to seek long-term capital appreciation through investment primarily in equity securities listed on the Taiwan Stock Exchange (TSE) in the Republic of China. At least 75% of the Fund’s assets will be invested in equity securities listed on the TSE. At least 90% of its total assets will be invested in initial public offerings and secondary public offerings of equity securities. The Fund invests in industries, such as financial services, semiconductor manufacturing, personal computer and peripherals, telecommunications, electronic components, rubber, food and textiles, among others. The Fund’s investment advisor is HSBC Global Asset Management (Taiwan) Limited.