Welcome to our dedicated page for MEXICO FUND news (Ticker: MXF), a resource for investors and traders seeking the latest updates and insights on MEXICO FUND stock.
Mexico Fund, Inc. (NYSE: MXF) is a United States-based non-diversified, closed-end management investment company. The primary objective of the fund is to achieve long-term capital appreciation through investments in securities, mainly equity, listed on the Mexican Stock Exchange. The fund's portfolio spans various sectors including auto parts, airports, building materials, chemical products, consumer products, energy, and food, providing a comprehensive vehicle for investors interested in Mexican markets.
In fiscal year 2023, the Fund has shown remarkable performance metrics. The Net Asset Value (NAV) per share registered a total return of 22.17% for the first half of the year, outperforming its benchmark, the Morgan Stanley Capital International (MSCI) Mexico Index, which increased by 21.95%. The Fund’s market price also displayed robust growth, registering a total return of 20.83%. Over three-, five-, and ten-year periods ending April 30, 2023, the Fund’s NAV per share has consistently outperformed the benchmark.
At the end of fiscal year 2023, the Fund's market price and NAV per share were $16.68 and $21.11, respectively, reflecting a 20.99% discount. The expense ratio for the first half of 2023 was capped at 1.40%, with the actual ratio at 1.38%, ensuring cost-efficiency for investors.
The Board of Directors has ratified the continuation of the Fund's Managed Distribution Plan (MDP) with quarterly distributions. Most recently, the quarterly distribution increased from $0.20 to $0.22 per share, a 10.0% increase, reflecting a 5.0% annualized distribution rate relative to the market price as of November 30, 2023. This distribution is payable on January 25, 2024, to shareholders on record as of January 17, 2024.
The Fund continues to offer a compelling investment opportunity by maintaining a managed, non-diversified portfolio that focuses exclusively on the Mexican market. Investors benefit from a strategic allocation across multiple sectors, aiming for capital growth and diversification within the dynamic landscape of Mexican equities.
The company's recent reports and publications can be accessed on its official website, providing transparency and detailed insights into its financial performance and future outlooks.
The Mexico Fund (NYSE: MXF) has declared a distribution of $0.22 per share to stockholders of record on January 22, 2025, payable on January 30, 2025. The Board approved continuing the Fund's Managed Distribution Plan (MDP) for 2025. The distribution breakdown includes: 45.52% from net investment income, 4.41% from short-term capital gains, 13.93% from long-term capital gains, and 36.14% as return of capital.
Since implementing the MDP in September 2008, the Fund has distributed $27.04 per share. The Fund's 5-year average annual total return through November 30, 2024, was 6.99%, with a current fiscal year cumulative total return of 0.45% from November 1, 2024, through November 30, 2024.
The Mexico Fund (NYSE: MXF) announced a cash distribution of $0.22 per share to stockholders of record as of October 22, 2024. The distribution breakdown includes: 44.07% from net investment income, 6.03% from short-term capital gains, 40.90% from long-term capital gains, and 9.00% from return of capital. The fund reported a 5-year average annual total return of 10.98%, current annualized distribution rate of 3.82%, and fiscal year cumulative total return of 2.46%.
The Mexico Fund, Inc. (NYSE: MXF) has announced a cash distribution of $0.22 per share to stockholders of record on October 22, 2024, payable on October 30, 2024. The Board has approved the continuation of the Fund's Managed Distribution Plan (MDP) for 2024. Since the MDP's implementation in 2008, the Fund has paid $26.82 per share in total cash distributions.
The distribution's estimated sources are: 42.53% from net investment income, 47.13% from capital gains, and 10.34% from return of capital. The Fund's 5-year average annual total return as of August 31, 2024, is 12.56%, with a current annualized distribution rate of 4.28% for the fiscal year. The Fund's fiscal year-to-date cumulative total return is 0.45%, with a cumulative distribution rate of 3.57%.
The Mexico Fund (NYSE: MXF) announced a distribution of $0.22 per share to stockholders of record as of July 17, 2024, payable on July 25, 2024. The distribution breakdown is as follows:
- 56.82% from Net Investment Income
- 7.64% from Net Realized Short-Term Capital Gains
- 15.54% from Net Realized Long-Term Capital Gains
- 20.00% from Return of Capital
The Fund's performance metrics include an Average Annual Total Return of 12.30% for the 5-year period ended June 30, 2024, and a Current Annualized Distribution Rate of 3.33% for the current fiscal year. The Fund's fiscal year began on November 1, 2023, with a Current Fiscal Year Cumulative Total Return of 7.10% and a Cumulative Distribution Rate of 2.21% as of June 30, 2024.
The Mexico Fund (NYSE: MXF) has released its fiscal 2024 Semi-Annual Report for the period ending April 30, 2024. The Fund's NAV per share achieved a total return of 21.62%, slightly outperforming its benchmark, the MSCI Mexico Index, which returned 21.58%. The Fund's market price saw a total return of 22.06%. Over one, five, ten, and fifteen-year periods, the Fund's NAV per share outperformed the benchmark. As of April 30, 2024, the Fund's market price was $17.99, with an NAV per share of $22.62, reflecting a 20.47% discount.
The Expense Limitation Agreement was renewed, capping the ordinary expense ratio at 1.40%, provided net assets remain over $260 million. The Fund's ordinary expense ratio was 1.34% in the first half of 2024. The Board of Directors confirmed the continuation of quarterly distributions, declaring a $0.22 per share distribution to be paid on July 25, 2024, to shareholders on record as of July 17, 2024.
The Mexico Fund (NYSE: MXF) has announced a distribution of $0.22 per share, payable on July 25, 2024, to stockholders of record as of July 17, 2024. This distribution continues the Fund's Managed Distribution Plan (MDP), which has been in place since September 2008. To date, the Fund has paid $26.60 per share in cash distributions. The distribution sources include net investment income (56.82%), short-term capital gains (7.64%), long-term capital gains (15.54%), and return of capital (20.00%). The Fund's five-year average annual total return is 15.06%, with a current annualized distribution rate of 3.38% and a cumulative total return of 20.22% for the fiscal year starting November 1, 2023. The actual tax reporting of these distributions will be detailed in Form 1099-DIV sent to stockholders.
FAQ
What is the current stock price of MEXICO FUND (MXF)?
What is the market cap of MEXICO FUND (MXF)?
What is the primary investment objective of Mexico Fund, Inc.?
What sectors does Mexico Fund, Inc.'s portfolio cover?
How did the Mexico Fund perform in the first half of fiscal year 2023?
What is the current quarterly distribution rate for Mexico Fund, Inc.?
How does the Fund manage its expense ratio?
What is a Closed-End Management Investment Company?
What is the Managed Distribution Plan (MDP) of Mexico Fund, Inc.?
Where can I access the latest financial reports of Mexico Fund, Inc.?
Has Mexico Fund, Inc. outperformed its benchmark over the long term?
What is the significance of the Fund's discount to NAV?
