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, Inc. (NYSE: MXF) held its 2023 Annual Meeting of Stockholders on March 10, 2023, where stockholders re-elected Jonathan Davis Arzac and Emilio Carrillo Gamboa as Class III Directors for a three-year term expiring in 2026. The voting results for Arzac showed 11,817,049 votes (96.84% of those voted), representing 78.75% of outstanding shares. Carrillo Gamboa received 11,337,886 votes (92.92% of those voted) with 75.56% of outstanding shares. There were no abstentions or broker non-votes during the election. The Fund focuses on long-term capital appreciation through investments in Mexican equities.
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?
