THE MEXICO FUND, INC. ISSUES ITS 2023 SEMI-ANNUAL REPORT

COLUMBIA, Md., June 27, 2023 /PRNewswire/ -- The Mexico Fund, Inc. (NYSE: MXF), today issued its fiscal 2023 Semi-Annual Report for the period ended April 30, 2023.

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

Semi-Annual Report 2023 Highlights

During the first half of fiscal year 2023, the Fund's NAV per share registered a total return of 22.17%, outperforming the Fund´s benchmark, the Morgan Stanley Capital International ("MSCI") Mexico Index, which increased 21.95%, while the Fund´s market price registered a total return of 20.83%. In addition, the Fund´s NAV per share has outperformed its benchmark during the three-, five- and ten-year periods ended on April 30, 2023, as shown in the table below:

	Annualized % Return in USD
	1-year	3-years	5-years	10-years
MXF Market Price	16.34	29.03	5.18	-1.44
MXF NAV	25.25	31.67	6.55	1.25
MSCI Mexico Index	25.54	30.01	5.77	0.76

As of April 30, 2023, the Fund's market price and NAV per share were $16.68 and $21.11, respectively, reflecting a discount of 20.99%, compared with a discount of 19.75% at the end of fiscal year 2022.

The Fund's Expense Limitation Agreement was renewed for fiscal year 2023, 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 2023 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 2023. As a result, it declared a distribution of $0.20 per share to be paid on July 27, 2023, to stockholders of record as of July 19, 2023.

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.