COLUMBIA, Md., June 25,
2024 /PRNewswire/ -- The Mexico Fund, Inc. (NYSE:
MXF), today issued its fiscal 2024 Semi-Annual Report for the
period ended April 30, 2024.
A full version of the report is available at the company's
website – www.themexicofund.com
Semi-Annual Report 2024 Highlights
During the first half of fiscal year 2024, the Fund's NAV per
share registered a total return of 21.62%, compared with a return
of 21.58% registered by its benchmark, the Morgan Stanley Capital
International ("MSCI") Mexico Index, while the Fund´s market price
registered a total return of 22.06%. The Fund´s NAV per share has
outperformed its benchmark during the one-, five-, ten- and
fifteen-year periods ended on April 30,
2024, as shown in the table below:
|
|
Annualized % Return
in USD
|
|
1-year
|
3-years
|
5-years
|
10-years
|
15-years
|
|
MXF Market Price
|
13.20
|
12.67
|
9.36
|
1.85
|
8.89
|
|
MXF NAV
|
11.38
|
14.93
|
10.91
|
3.35
|
9.00
|
|
MSCI Mexico
Index
|
9.55
|
15.06
|
9.78
|
2.56
|
7.16
|
|
|
|
|
|
|
|
As of April 30, 2024, the Fund's
market price and NAV per share were $17.99 and $22.62,
respectively, reflecting a discount of 20.47%, compared with a
discount of 20.40% at the end of fiscal year 2023.
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, of 1.40%,
so long as Fund net assets remain greater than $260 million. The Fund's ordinary expense ratio
during the first half of fiscal year 2024 was 1.34%, below the
limit of 1.40%.
The Board of Directors of the Fund has ratified the continuation
of the Fund's quarterly distributions under its MDP during 2024. As
a result, it declared a distribution of $0.22 per share to be paid on July 25, 2024, to stockholders of record as of
July 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
View original
content:https://www.prnewswire.com/news-releases/the-mexico-fund-inc-issues-its-2024-semi-annual-report-302181865.html
SOURCE The Mexico Fund, Inc.