TAIPEI (TVBS News) — The National Development Fund (NDF, 國家發展基金管理會) announced on Thursday (Nov. 21) that its 2023 revenue reached NT$33 billion, with dividends from Taiwan Semiconductor Manufacturing Company (TSMC, 台積電) contributing NT$19 billion, which accounts for about 58%.
In addition to TSMC, the fund reported NT$14 billion in dividend income from other investments, indicating a diversified and effective investment strategy. Despite operational losses in 37 out of 70 directly invested companies, the market value of shares in 14 investment firms exceeded their cost per share, showcasing a certain level of investment performance.
The fund emphasized its commitment to a three-stage investment review mechanism, continuously optimizing pre-investment assessments and post-investment management to ensure effective outcomes. Since its inception in 1973, the fund's assets have grown nearly 52 times, with a net value of NT$1.2998 trillion as of the end of Sept. 2024 and accumulated contributions totaling NT$1.6362 trillion.
From 2016 to 2023, the fund achieved profits of NT$166 billion, marking a 3.5-fold increase compared to the NT$47.1 billion earned between 2008 and 2015. This substantial growth underscores the fund's successful adaptation to evolving market conditions and strategic investment decisions.