<SEC-DOCUMENT>0001144204-12-003475.txt : 20120522
<SEC-HEADER>0001144204-12-003475.hdr.sgml : 20120522
<ACCEPTANCE-DATETIME>20120123162644
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ACCESSION NUMBER:		0001144204-12-003475
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20120123

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TAIWAN FUND INC
		CENTRAL INDEX KEY:			0000804123
		IRS NUMBER:				042942862
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		TWO AVENUE DE LAFAYETTE
		STREET 2:		PO BOX 5049 (02206-5049)
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02111
		BUSINESS PHONE:		6176622789

	MAIL ADDRESS:	
		STREET 1:		TWO AVENUE DE LAFAYETTE
		STREET 2:		PO BOX 5049 (02206-5049)
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02111
</SEC-HEADER>
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<TYPE>CORRESP
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<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">January 23, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">VIA EDGAR CORRESPONDENCE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">U.S. Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Division of Investment Management</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">100 F Street, N.E.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Attn: Mr. John Grizeskiewicz</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">RE: <U>THE TAIWAN FUND, INC. File No. 811-04893</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Dear Mr. Grizeskiewicz:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">This letter is written
in response to the comments that you provided on January 19, 2012 regarding the preliminary proxy statement for the above-referenced
Registrant (the &ldquo;Proxy Statement&rdquo;), which was filed on Schedule 14A with the Securities and Exchange Commission (&ldquo;SEC&rdquo;)
on January 12, 2012. The comments of the SEC Staff and the Registrant&rsquo;s responses are listed below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: -0.25in"><B>1.</B>&#9;<B>Comment</B>:
With regard to Proposal 2, please describe the history of the management of the Fund by Martin Currie, Inc. (&ldquo;Martin Currie&rdquo;)
and APS Asset Management Pte Ltd (&ldquo;APS&rdquo;) including the length of time served by each.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: -0.25in"><B>&#9;Response</B>:
The Registrant will add the following disclosure as the first paragraph under the heading &ldquo;Proposal 2 &ndash; Approval of
Proposed Investment Advisory and Management Agreement and Sub-Advisory Agreement&rdquo;:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black"><B>In
July 2011, in anticipation of a change in the personnel at Martin Currie, Inc. (&ldquo;Martin Currie&rdquo;) who were managing
the Fund&rsquo;s portfolio (the &ldquo;Former Portfolio Managers&rdquo;) the Board of Directors of the Fund (the &ldquo;Board&rdquo;),
all of whom are Independent Directors, determined that it would be appropriate for the Board to review the arrangements for the
management of the Fund&rsquo;s assets and consider engaging a different investment adviser for the Fund. </B></FONT><B>On November
9, 2011, the change in personnel occurred and the Fund entered into interim arrangements with Martin Currie</B> <B>and APS Asset
Management Pte Ltd (&ldquo;APS&rdquo;) to manage the Fund&rsquo;s portfolio until the Board could complete its review of various
options and permanent management arrangements could be put in place. As further described below, in January 2012, the Board completed
its review of potential candidates for investment adviser and approved the Proposed Agreements under which Martin Currie will continue
to act as the investment adviser, and APS as the sub-adviser, to the Fund. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: -0.25in"><B>2.&#9;Comment</B>:
In the discussion of the approval process for the proposed investment advisory and sub-advisory agreements, please consider including
an explicit statement that the Board has concluded its search for a new manager.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: -0.25in"><B>&#9;Response</B>:
The Registrant will revise the second paragraph under the heading &ldquo;Proposal 2 &ndash; Approval of Proposed Investment Advisory
and Management Agreement and Sub-Advisory Agreement &ndash; Approval Process&rdquo; to read as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">At the Board
meeting on October 26, 2011, with all Directors present, each of the Candidates made a presentation to the Board and responded
to questions from the Board. Following the presentations, the Board discussed the relative merits of each Candidate and determined
that further information should be requested from the candidates. The Board determined that it would be appropriate to enter into
interim arrangements with Martin Currie and APS while the Board continued to consider permanent arrangements for the management
of the Fund. At the Board meeting on October 26, 2011, the Board approved the Current Agreements with Martin Currie and APS <B>on
an interim basis</B>. At the Board meeting held on January 5, 2012, the Board <B>concluded its review of potential candidates
for investment adviser with</B> <STRIKE>approved</STRIKE> the selection of Martin Currie <STRIKE>as the investment adviser for
the Fund with</STRIKE> <B>and </B>APS<B> </B><STRIKE>as the sub-adviser for the Fund</STRIKE>, approved the Proposed Agreements
and agreed to submit the <STRIKE>selection of Martin Currie and APS</STRIKE> <B>Proposed Agreements </B>for approval by the Fund's
stockholders at the next annual stockholders meeting in February 2012.</P>


</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: -0.25in"><B>3.&#9;Comment</B>:
Please clarify the division of duties between Martin Currie and APS.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: -0.25in"><B>&#9;Response</B>:
The Registrant will revise the second paragraph under the heading &ldquo;Proposal 2 &ndash; Approval of Proposed Investment Advisory
and Management Agreement and Sub-Advisory Agreement&rdquo; to read as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">The Proposed
Agreements provide for Martin Currie and APS to provide substantially the same investment advisory and management services as <B>each
of them </B>provide<B>s</B> under the Current Agreements. Martin Currie&rsquo;s and APS&rsquo; duties under the Proposed Agreements
include making investment decisions, supervising the acquisition and disposition of investments and selecting brokers or dealers
to execute these transactions in accordance with the Fund&rsquo;s investment objective and policies and within the guidelines and
directions established by the Fund&rsquo;s Board of Directors.<B> Under the Current Agreements and the Proposed Agreements, Martin
Currie is responsible for overseeing the portfolio management services provided by APS and APS is responsible for determining the
portfolio investments made on behalf of the Fund on a day-to-day basis.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Please contact me at (617) 662-1745 if you have any questions regarding
the Registrant&rsquo;s responses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 50%">Very truly yours,</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-decoration: underline">/s/ Tracie A. Coop</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Tracie A. Coop</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Secretary, The Taiwan Fund, Inc.</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
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