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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) announced a cash distribution of $0.20 per share to stockholders of record as of January 18, 2023, per its Managed Distribution Plan. The distribution's source includes $0.0916 from net investment income (45.81%), $0.0208 from net realized short-term capital gains (10.41%), $0.0625 from net realized long-term capital gains (31.24%), and $0.0251 as return of capital (12.54%). The average annual total return was 4.03% over five years. The current fiscal year's cumulative total return stands at 0.51% as of December 31, 2022.
The Mexico Fund, Inc. (NYSE: MXF) released its fiscal 2022 Annual Report, revealing a 5.55% total return on NAV per share, while its market price experienced a -0.79% return compared to a 5.87% increase in the MSCI Mexico Index. As of October 31, 2022, the Fund's market price was $14.14 with a NAV of $17.62, marking a 19.75% discount. The Fund renewed its Expense Limitation Agreement with a 1.40% cap on ordinary expenses. A distribution of $0.20 per share is scheduled for January 26, 2023.
The Mexico Fund, Inc. (NYSE: MXF) announced an increase in its quarterly distribution from $0.18 to $0.20 per share, an 11.1% rise. This new distribution represents a 5.1% annualized rate based on market price as of November 30, 2022. The distribution, approved by the Board, is for stockholders of record on January 18, 2023, and will be payable on January 26, 2023. Since the implementation of its Managed Distribution Plan (MDP) in September 2008, the Fund has distributed $25.36 per share. The Fund's performance includes a 5.49% average annual return over five years.
The Mexico Fund, Inc. (NYSE: MXF) has renewed its Expense Limitation Agreement (ELA) with Impulsora del Fondo México, S.C. The renewed ELA will maintain a 1.40% ordinary expense ratio for fiscal year 2023, effective from November 1, 2022, to October 31, 2023, provided Fund net assets stay above $260 million. If assets dip below this threshold, Impulsora will ensure a 1.20% ratio in addition to waiving $520,000 in fixed expenses. This agreement aims to support the Fund's long-term performance and benefit stockholders.
The Mexico Fund, Inc. (NYSE: MXF) has declared a cash distribution of $0.18 per share to stockholders, effective October 27, 2022. This payment is based on the Fund's Managed Distribution Plan (MDP) and is distributed to those on record as of October 19, 2022. The distribution will derive from net investment income, net realized short-term, and long-term capital gains. Notably, the Fund's average annual total return for the 5-year period ending September 30, 2022, was 1.51%, while the current annualized distribution rate stands at 3.76%.
The Mexico Fund, Inc. (NYSE: MXF) declared a cash distribution of $0.18 per share for stockholders of record on October 19, 2022, payable on October 27, 2022. The Fund's Managed Distribution Plan (MDP) continues, having distributed a total of $25.18 per share since its inception in September 2008.
Distribution sources for October 2022 include net investment income ($0.1297, 72.06%) and realized capital gains. The Fund's current annualized distribution rate is 3.76%, with a cumulative total return of (6.99)% for the fiscal year.
The Mexico Fund, Inc. (NYSE: MXF) has declared a cash distribution of $0.18 per share on July 28, 2022, payable to shareholders of record as of July 20, 2022. This payment adheres to the Fund’s Managed Distribution Plan. The distribution includes $0.1035 from net investment income (57.5%), $0.0500 from net realized long-term capital gains (27.78%), and $0.0098 as a return of capital (5.44%). For the current fiscal year, the cumulative total return is at (1.15)%, with an average annual total return of 3.67% for the past 5 years.
The Mexico Fund, Inc. (NYSE: MXF) released its fiscal 2022 Semi-Annual Report for the period ended April 30, 2022. The Fund achieved a total return of 2.95% for NAV per share and 3.04% for market price, outperforming the MSCI Mexico Index, which gained 2.84%. As of April 30, the Fund's market price and NAV were $15.06 and $17.57, respectively, reflecting a 14.29% discount. The Fund's expense ratio was 1.38%, below the new cap of 1.40%. Quarterly distributions of $0.18 per share were declared for July 28, 2022.
The Mexico Fund, Inc. (NYSE: MXF) declared a cash distribution of $0.18 per share for stockholders on record as of July 20, 2022, payable on July 28, 2022. This marks a continuation of the Fund's Managed Distribution Policy (MDP), which has paid out a total of $25.00 per share since September 2008. The distribution sources for July 2022 include $0.1035 from net investment income and $0.0500 from net realized long-term capital gains. The current annualized distribution rate is 3.34% with a cumulative total return of 8.87% for the fiscal year.
The Mexico Fund, Inc. (NYSE: MXF) announced a cash distribution of $0.18 per share to stockholders of record as of April 20, 2022, as part of its Managed Distribution Plan. The distribution consists of $0.0626 (34.78%) from net investment income and $0.1174 (65.22%) as a return of capital. The Fund reports an average annual total return of 10.94% over the past five years and a current annualized distribution rate of 2.22%. The current fiscal year began on November 1, 2021.
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