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: June 6, 2014 | 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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$415.32
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$396.61
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$414.86
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NAV per share
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$27.78
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$26.53
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$30.94
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Closing price NYSE2
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$27.68
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$26.22
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$32.12
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% Premium (Discount)
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(0.36%)
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(1.17%)
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3.81%
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Shares traded per month2 (composite figures)
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835,906
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1,179,235
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1,257,662
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Outstanding shares3
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14,949,038
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14,949,038
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13,408,785
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Shares on Short Interest Position2
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3,846
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23,826
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74,526
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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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5.57%
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9.57%
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1.11%
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-3.87%
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NAV per share
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4.71%
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10.61%
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1.76%
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0.16%
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Bolsa IPC Index
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3.55%
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10.26%
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0.21%
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0.89%
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MSCI Mexico Index
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3.09%
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9.26%
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-0.44%
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0.64%
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2 Years
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3 Years
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5 Years
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10 Years
|
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Market price
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53.08%
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37.39%
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175.83%
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347.81%
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NAV per share
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39.05%
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22.06%
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135.25%
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317.63%
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Bolsa IPC Index
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26.04%
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9.29%
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89.14%
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338.41%
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MSCI Mexico Index
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25.89%
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12.77%
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93.38%
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297.12%
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III. The Mexican Stock Exchange
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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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Bolsa IPC Index5
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41,362.51
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40,711.56
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41,588.32
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Daily avg. of million shares traded
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293.7
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294.9
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408.6
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Valuation Ratios6: P/E
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20.54
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20.54
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20.72
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P/BV
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2.70
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2.79
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3.02
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EV/EBITDA
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10.22
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9.29
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9.58
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Market capitalization (billion US$)
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$535.16
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$507.71
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$578.98
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IV. The Mexican Economy.
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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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Treasury Bills7
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|||
One month
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3.28%
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3.23%
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3.72%
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Six months
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3.51%
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3.49%
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3.80%
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One year
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3.61%
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3.66%
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3.98%
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Long-term Bonds
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|||
Three years
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4.70%
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4.72%
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4.00%
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Five years
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4.80%
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5.07%
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4.14%
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Ten years
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5.87%
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6.15%
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4.64%
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20 years
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N.A.
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7.12%
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5.88%
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30 years
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6.94%
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7.20%
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5.32%
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Currency Market8
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|||
Exchange Rate (Ps/US$)
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Ps. 12.8580
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Ps. 13.0793
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Ps. 12.8089
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Month
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Year to Date
|
Last 12
Months |
|
Inflation Rates on Previous Month
|
|||
Consumer Price Index9 (CPI)
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-0.19%
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1.24%
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3.50%
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Shares
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Percent of
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||||
Held
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COMMON STOCK - 92.94%
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Value
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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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$9,021,387
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2.17%
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||
1,500,000
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Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. Series B
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5,629,958
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1.36
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14,651,345
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3.53
|
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Beverages
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1,500,000
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Arca Continental, S.A.B. de C.V.
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9,765,516
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2.35
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3,500,000
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Fomento Económico Mexicano, S.A.B. de C.V. Series UBD
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33,219,785
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8.00
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2,215,000
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Organización Cultiba, S.A.B. de C.V. Series B
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4,242,919
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1.02
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47,228,220
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11.37
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Building Materials
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|||||
28,600,000
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Cemex, S.A.B. de C.V. Series CPO
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36,834,344
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8.87
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Chemical Products
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|||||
4,800,000
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Alpek, S.A.B. de C.V. Series A
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9,179,655
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2.21
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3,970,000
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Mexichem, S.A.B. de C.V.
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15,774,405
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3.80
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24,954,060
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6.01
|
||||
Construction and Infrastructure
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|||||
708,000
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Promotora y Operadora de Infraestructura, S.A.B. de C.V.
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9,899,776
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2.38
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Consumer Products
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7,000,000
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Kimberly-Clark de México, S.A.B. de C.V. Series A
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18,711,308
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4.51
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Energy
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|||||
1,240,000
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Infraestructura Energética Nova, S.A.B. de C.V.
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6,827,811
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1.64
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Financial Groups
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|||||
1,200,000
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Banregio Grupo Financiero, S.A.B. de C.V. Series O
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6,992,067
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1.68
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||
4,100,000
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Grupo Financiero Banorte, S.A.B. de C.V. Series O
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29,648,312
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7.14
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5,500,000
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Grupo Financiero Santander Mexicano, S.A.B. de C.V. Series B
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14,624,747
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3.52
|
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51,265,126
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12.34
|
||||
Food
|
|||||
1,360,000
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Gruma, S.A.B. de C.V. Series B
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14,312,895
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3.45
|
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3,000,000
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Grupo Bimbo, S.A.B. de C.V. Series A
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8,679,421
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2.09
|
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4,000,000
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Grupo Lala, S.A.B. de C.V. Series B
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10,069,995
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2.42
|
||
33,062,311
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7.96
|
||||
Holding Companies
|
|||||
7,250,000
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Alfa, S.A.B. de C.V. Series A
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20,287,370
|
4.88
|
||
790,000
|
Grupo Carso, S.A.B. de C.V. Series A1
|
4,099,914
|
0.99
|
||
24,387,284
|
5.87
|
||||
Mining
|
|||||
10,000,000
|
Grupo México, S.A.B. de C.V. Series B
|
32,928,916
|
7.93
|
||
Restaurants
|
|||||
2,500,000
|
Alsea, S.A.B. de C.V.
|
8,521,932
|
2.05
|
||
Shares
|
Percent of
|
||||
Held
|
COMMON STOCK
|
Value
|
Net Assets
|
||
|
Retail
|
||||
1,440,000
|
El Puerto de Liverpool, S.A.B. de C.V. Series C-1
|
16,273,635
|
3.92
|
||
9,000,000
|
Wal-Mart de México, S.A.B. de C.V. Series V
|
22,923,472
|
5.52
|
||
39,197,107
|
9.44
|
||||
|
Steel
|
||||
198,000
|
Ternium, S.A.
|
5,629,095
|
1.36
|
||
|
Telecommunications Services
|
||||
33,000,000
|
América Móvil, S.A.B. de C.V. Series L
|
31,901,540
|
7.68
|
||
Total Common Stock
|
$386,000,175
|
92.94%
|
|||
SHORT-TERM SECURITIES – 3.44% |
Principal
Amount
|
|||||
Repurchase Agreements
|
|||||
$8,498,102
|
BBVA Bancomer, S.A., 3.47%, dated 05/30/14, due 06/02/14 repurchase price $8,500,559 collateralized by Bonos del Gobierno Federal.
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8,498,102
|
2.05%
|
||
Time Deposits
|
|||||
$5,795,870
|
Comerica Bank, 0.02%, dated 05/30/14, due 06/02/14
|
5,795,870
|
1.39
|
||
Total Short-Term Securities
|
14,293,972
|
3.44
|
|||
Total Investments
|
400,294,147
|
96.38
|
|||
Other Assets in Excess of Liabilities
|
15,023,140
|
3.62
|
|||
Net Assets Equivalent to $27.78 per share on 14,949,038 shares of capital stock outstanding
|
$415,317,287
|
100.00%
|
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