COLUMBIA, Md., Dec. 28,
2023 /PRNewswire/ -- The Mexico Fund, Inc. (NYSE:
MXF), today issued its fiscal 2023 Annual Report for the period
ended October 31, 2023.
A full version of the report is available at the company´s
website – www.themexicofund.com
Annual Report 2023 Highlights
During fiscal year 2023, the Fund's NAV per share and market
price registered a total return of 11.92% and 12.10%, respectively,
while the Morgan Stanley Capital International ("MSCI") Mexico
Index, increased 9.91%. The Fund´s NAV has outperformed its
benchmark during the one-, five-, ten- and fifteen- year periods
ended on October 31, 2023.
|
Annualized % Return
in USD
|
|
1-year
|
3-years
|
5-years
|
10-years
|
15-years
|
|
MXF Market Price
|
12.10
|
17.56
|
7.03
|
-0.54
|
7.66
|
|
MXF NAV
|
11.92
|
18.33
|
8.28
|
1.27
|
7.39
|
|
MSCI Mexico
Index
|
9.91
|
19.48
|
7.62
|
0.51
|
5.78
|
As of October 31, 2023, the Fund's
market price and NAV per share were $15.10 and $18.97,
respectively, reflecting a discount of 20.40%, compared with a
discount of 19.75% at the end of fiscal year 2022.
The Fund´s Expense Limitation Agreement was renewed for fiscal
year 2024 with a cap on the ordinary expense ratio (which excludes
the performance component of the Investment Advisory fee, among
other extraordinary expenses) of 1.40%, so long as Fund net
assets remain greater than $260
million. The Fund's ordinary expense ratio during the fiscal
year 2023 was 1.35%, below the limit of 1.40%.
The Fund has declared a distribution of $0.22 per share to be paid on January 25, 2024 to stockholders of record as of
January 17, 2024.
About The Mexico Fund, Inc.
The Mexico Fund, Inc. is a non-diversified closed-end
management investment company with the investment objective of
long-term capital appreciation through investments in securities,
primarily equity, listed on the Mexican Stock Exchange. The Fund
provides a vehicle to investors who wish to invest in Mexican
companies through a managed non-diversified portfolio as part of
their overall investment program.
This release may contain certain forward-looking statements
regarding future circumstances. These forward-looking statements
are based upon the Fund's current expectations and assumptions and
are subject to various risks and uncertainties that could cause
actual results to differ materially from those contemplated in such
forward-looking statements including, in particular, the risks and
uncertainties described in the Fund's filings with the Securities
and Exchange Commission. Actual results, events, and performance
may differ. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date
hereof. The Fund undertakes no obligation to release publicly any
revisions to these forward looking statements that may be made to
reflect events or circumstances after the date hereof or to reflect
the occurrence of unanticipated events. The inclusion of any
statement in this release does not constitute an admission by The
Mexico Fund or any other person that the events or circumstances
described in such statement are material.
CONTACT:
Tofi Dayan
+5255-9138-3350
Email: investor-relations@themexicofund.com
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SOURCE The Mexico Fund, Inc.