The fund reported a net asset value per share of $116.90 by the close of May, a substantial jump from the $79.33 recorded on February 28. Market enthusiasm pushed the NYSE-listed shares to $99.15, narrowing the discount to net asset value to 15.18%. This performance reflects a broader nine-month trend where the fund achieved a total return of 119.94%, outpacing the TAIEX index’s 81.28% gain during that same span.

Financial statements for the quarter reveal net realized gains on investments and foreign currency transactions totaling $53,155,005, bolstered by $155,581,464 in unrealized appreciation. Despite these gains, the fund recorded a net investment loss of $373,401, a figure attributed to operating expenses exceeding dividend and interest income. As a non-diversified entity, the fund continues to focus on long-term capital appreciation by targeting companies listed in Taiwan.