THE MEXICO FUND, INC. ISSUES ITS 2022 SEMI-ANNUAL REPORT

Rhea-AI Summary

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.

Positive

• Total return of 2.95% for NAV per share and 3.04% for market price, outperforming MSCI Mexico Index.
• Renewed expense limitation agreement with ordinary expense ratio capped at 1.40%.
• Quarterly distribution of $0.18 per share declared, continuing MDP.

Negative

• Market price discount increased to 14.29% from 13.97% at the end of fiscal year 2021.

COLUMBIA, Maryland, June 24, 2022 /PRNewswire/ -- The Mexico Fund, Inc. (NYSE: MXF), today issued its fiscal 2022 Semi-Annual Report for the period ended April 30, 2022.

A full version of the report is available at the company´s website – www.themexicofund.com

Semi-Annual Report 2022 Highlights

During the first half of fiscal year 2022, the Fund's NAV per share and market price registered a total return of 2.95% and 3.04%, respectively, outperforming the Fund´s benchmark, the Morgan Stanley Capital International ("MSCI") Mexico Index, which increased 2.84%. In addition, the Fund´s NAV per share has outperformed its benchmark during the three-, five- and ten-year periods ended on April 30, 2022, as shown in the table below:

	Annualized % Return in USD
	1-year	3-years	5-years	10-years
MXF Market Price	8.59	5.91	2.33	1.64
MXF NAV	8.82	6.36	2.63	1.71
MSCI Mexico Index	10.76	5.06	1.42	0.05

As of April 30, 2022, the Fund's market price and NAV per share were $15.06 and $17.57, respectively, reflecting a discount of 14.29%, compared with a discount of 13.97% at the end of fiscal year 2021.

The Fund´s Expense Limitation Agreement was renewed and reinforced for fiscal year 2022. The cap on the ordinary expense ratio, which excludes the performance component of the Investment Advisory fee, was reduced from 1.50% to 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 2022 was 1.38%, 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 2022. As a result, it declared a distribution of $0.18 per share to be paid on July 28, 2022, to stockholders of record as of July 20, 2022.

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.

FAQ

What were the highlights of The Mexico Fund's fiscal 2022 Semi-Annual Report?

The Mexico Fund reported a total return of 2.95% for NAV per share and 3.04% for market price, outperforming the MSCI Mexico Index which had a 2.84% increase.

What is the market price of MXF as of April 30, 2022?

As of April 30, 2022, the market price of MXF was $15.06.

What is the NAV per share for The Mexico Fund as of April 30, 2022?

The NAV per share for The Mexico Fund as of April 30, 2022, was $17.57.

What is the declared distribution amount for MXF in July 2022?

The declared distribution amount for MXF in July 2022 is $0.18 per share.

What is the new expense cap for The Mexico Fund?

The new expense cap for The Mexico Fund is 1.40%, reduced from 1.50%.

How does The Mexico Fund's performance compare to its benchmark?

The Mexico Fund's NAV and market price have consistently outperformed the MSCI Mexico Index over three, five, and ten-year periods.