Maryland
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811-02409
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13 306 9854
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(State or other
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(Commission
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(I.R.S. Employer
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jurisdiction
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File Number)
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Identification No.)
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of incorporation)
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¨
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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¨
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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¨
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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¨
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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The Mexico Fund, Inc.
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||
Date: May 7, 2013 | By: |
/s/ Sander M. Bieber
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Sander M. Bieber
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Assistant Secretary
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I. The Mexico Fund Data
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End of Month
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One Month Earlier
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One Year Earlier
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Total Net Assets1 (million US$)
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$437.60
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$450.89
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$362.15
|
NAV per share
|
$32.64
|
$33.69
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$27.10
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Closing price NYSE2
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$35.77
|
$36.60
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$24.58
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% Premium (Discount)
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9.59%
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8.64%
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(9.30%)
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Shares traded per month2 (composite figures)
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2,160,545
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2,886,724
|
685,805
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Outstanding shares3
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13,408,785
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13,381,884
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13,362,856
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Shares on Short Interest Position2
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255,654
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338,861
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7,602
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Note: Past performance is no guarantee of future results.
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II. Performance4
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1 Month
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3 Months
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6 Months
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1 Year
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Market price
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-0.07%
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13.11%
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35.64%
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59.22%
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NAV per share
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-0.87%
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3.27%
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18.94%
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31.11%
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Bolsa Index
|
-2.52%
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-2.24%
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9.59%
|
14.86%
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MSCI Mexico Index
|
-2.15%
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-1.74%
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9.63%
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15.26%
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2 Years
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3 Years
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5 Years
|
10 Years
|
|
Market price
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55.21%
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98.39%
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93.00%
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702.12%
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NAV per share
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25.65%
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55.84%
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37.72%
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538.28%
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Bolsa Index
|
8.33%
|
31.18%
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20.88%
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451.09%
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MSCI Mexico Index
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11.60%
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34.15%
|
19.73%
|
376.92%
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III. The Mexican Stock Exchange
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End of Month
|
One Month Earlier
|
One Year Earlier
|
Bolsa Index5
|
42,263.48
|
44,077.09
|
39,461.00
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Daily avg. of million shares traded
|
387.4
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508.1
|
279.6
|
Valuation Ratios6: P/E
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21.05
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20.02
|
20.77
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P/BV
|
3.07
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3.07
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2.95
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EV/EBITDA
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9.76
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9.65
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8.84
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Market capitalization (billion US$)
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$608.75
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$598.17
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$505.18
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IV. The Mexican Economy.
|
|||
End of Month
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One Month Earlier
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One Year Earlier
|
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Treasury Bills7
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|||
One month
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3.82%
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3.98%
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4.29%
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Six months
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3.97%
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4.09%
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4.40%
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One year
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4.10%
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4.22%
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4.57%
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Long-term Bonds
|
|||
Three years
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4.27%
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4.44%
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4.89%
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Five years
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4.15%
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4.63%
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5.04%
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Ten years
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5.00%
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N.A.
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N.A.
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20 years
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5.37%
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5.69%
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7.16%
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30 years
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N.A.
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5.88%
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N.A.
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Currency Market8
|
|||
Exchange Rate (Ps/US$)
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Ps. 12.1340
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Ps. 12.3360
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Ps. 13.0127
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Month
|
Year to Date
|
Last 12 Months
|
|
Inflation Rates on Previous Month
|
|||
Consumer Price Index9 (CPI)
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0.73%
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1.64%
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4.25%
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Shares
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Percent of
|
|||
Held
|
COMMON STOCK - 91.92%
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Value
|
Net Assets
|
|
Airports
|
||||
700,000
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Grupo Aeroportuario del Sureste, S.A.B. de C.V. Series B
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$8,693,176
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1.99%
|
|
Beverages
|
||||
1,500,000
|
Arca Continental, S.A.B. de C.V.
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12,379,265
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2.83
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300,000
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Coca-Cola Femsa, S.A.B. de C.V. Series L
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4,849,102
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1.11
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3,100,000
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Fomento Económico Mexicano, S.A.B. de C.V. Series UBD
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35,279,298
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8.06
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1,285,000
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Organización Cultiba, S.A.B. de C.V. Series B
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3,801,838
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0.87
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56,309,503
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12.87
|
|||
Building Materials
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||||
26,020,800
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Cemex, S.A.B. de C.V. Series CPO
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29,357,570
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6.71
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Chemical Products
|
||||
2,800,000
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Alpek, S.A.B. de C.V. Series A
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6,687,325
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1.53
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|
2,690,000
|
Mexichem, S.A.B. de C.V.
|
13,720,463
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3.13
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20,407,788
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4.66
|
|||
Construction and Infrastructure
|
||||
2,300,000
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Empresas ICA, S.A.B. de C.V.
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6,363,194
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1.45
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2,200,000
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OHL México, S.A.B. de C.V.
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6,828,086
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1.56
|
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13,191,280
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3.01
|
|||
Consumer Products
|
||||
6,000,000
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Kimberly-Clark de México, S.A.B. de C.V. Series A
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20,827,427
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4.76
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Energy
|
||||
1,200,000
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Infraestructura Energética Nova, S.A.B de C.V.
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4,094,281
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0.94
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Financial Groups
|
||||
1,470,000
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Banregio Grupo Financiero, S.A.B. de C.V. Series O
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8,115,650
|
1.85
|
|
4,320,000
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Grupo Financiero Banorte, S.A.B. de C.V. Series O
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32,597,594
|
7.45
|
|
3,720,000
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Grupo Financiero Santander Mexicano, S.A.B de C.V. Series B
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12,039,262
|
2.75
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52,752,506
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12.05
|
|||
Food
|
||||
3,000,000
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Grupo Bimbo, S.A.B. de C.V. Series A
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9,768,419
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2.23
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|
1,550,000
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Grupo Herdez, S.A.B. de C.V.
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5,648,673
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1.29
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|
15,417,092
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3.52
|
|||
Holding Companies
|
||||
11,140,000
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Alfa, S.A.B. de C.V. Series A
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25,889,896
|
5.92
|
|
1,620,000
|
Grupo Carso, S.A.B. de C.V. Series A1
|
9,253,519
|
2.11
|
|
1,000,000
|
KUO, S.A.B. de C.V. Series B
|
2,494,643
|
0.57
|
|
37,638,058
|
8.60
|
|||
Media
|
||||
3,042,000
|
Grupo Televisa, S.A.B. Series CPO
|
15,455,687
|
3.53
|
|
Mining
|
||||
6,750,000
|
Grupo México, S.A.B. de C.V. Series B
|
24,176,282
|
5.53
|
Shares
|
Percent of
|
|||
Held
|
COMMON STOCK
|
Value
|
Net Assets
|
|
Restaurants
|
||||
2,500,000
|
Alsea, S.A.B. de C.V.
|
7,647,931
|
1.75
|
|
Retail
|
||||
1,500,000
|
El Puerto de Liverpool, S.A.B. de C.V. Series C-1
|
18,981,787
|
4.34
|
|
2,740,000
|
Grupo Comercial Chedraui, S.A.B. de C.V. Series B
|
10,457,343
|
2.39
|
|
8,100,000
|
Wal-Mart de México, S.A.B. de C.V. Series V
|
25,793,967
|
5.89
|
|
55,233,097
|
12.62
|
|||
Stock Exchange
|
||||
3,200,000
|
Bolsa Mexicana de Valores, S.A.B. de C.V. Series A
|
8,723,916
|
1.99
|
|
Telecommunications Services
|
||||
30,000,000
|
América Móvil, S.A.B. de C.V. Series L
|
32,314,159
|
7.39
|
|
Total Common Stock
|
$402,239,753
|
91.92%
|
||
REAL ESTATE INVESTMENT TRUSTS – 2.98%
|
||||
3,985,000
|
Macquaire México Real Estate Management S.A. de C.V. Series 12
|
9,629,158
|
2.20
|
|
1,432,327
|
PLA Administradora Industrial, S. de R.L. de C.V. Series 13
|
3,403,164
|
0.78
|
|
$13,032,322
|
2.98
|
|||
Total Equity Securities
|
$415,272,075
|
94.90%
|
Securities
|
SHORT-TERM SECURITIES – 5.19%
|
|||
Principal
Amount
|
||||
Repurchase Agreements
|
||||
$17,244,213
|
BBVA Bancomer, S.A., 3.96%, dated 04/30/13, due 05/02/13 repurchase price $17,248,007 collateralized by Bonos del Gobierno Federal.
|
$17,244,213 |
3.94% |
|
Time Deposits
|
||||
5,484,852
|
Comerica Bank, 0.07%, dated 04/30/13, due 05/01/13
|
5,484,852
|
1.25
|
|
Total Short-Term Securities
|
22,729,065
|
5.19
|
||
Total Investments
|
438,001,140
|
100.09
|
||
Liabilities in Excess of Other Assets
|
(399,593)
|
(0.09)
|
||
Net Assets Equivalent to $32.64 per share on 13,408,785 shares of capital stock outstanding
|
$437,601,547
|
100.00%
|
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