0000894579-14-000171.txt : 20141205 0000894579-14-000171.hdr.sgml : 20141205 20141205141433 ACCESSION NUMBER: 0000894579-14-000171 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20141130 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20141205 DATE AS OF CHANGE: 20141205 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MEXICO FUND INC CENTRAL INDEX KEY: 0000065433 IRS NUMBER: 133069854 STATE OF INCORPORATION: MD FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 811-02409 FILM NUMBER: 141268939 BUSINESS ADDRESS: STREET 1: 1900 K STREET NW CITY: WASHINGTON STATE: DC ZIP: 20006 BUSINESS PHONE: 2026263300 MAIL ADDRESS: STREET 1: 77 ARISTOTELES STREET 3RD FLOOR CITY: POLANCO D F STATE: O5 ZIP: 11560 8-K 1 mf8k120414.htm FORM 8-K mf8k120414.htm
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 
Washington, D.C. 20549
 
FORM 8-K
 
 
Current Report Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): November 30, 2014
 
The Mexico Fund, Inc.
(Exact name of registrant as specified in its charter)
 
 
 
Maryland
811-02409
13 306 9854
 
(State or other
(Commission
(I.R.S. Employer
 
jurisdiction
File Number)
Identification No.)
 
of incorporation)
   
       
 
1900 K Street, NW
Washington, DC 20006
(Address of principal executive offices) (Zip Code)
 
Registrant's telephone number, including area code:
(202) 261-7941
 
(none)
(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
 
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
     
 
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
     
 
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
     
 
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 
 
 

 
 
 
 
 
 

 
 
 
 
 
Item 7.01 Regulation FD Disclosure
 
Pursuant to Regulation FD Rules 100-103, The Mexico Fund, Inc. (the “Fund”) furnishes the Monthly Summary Report of the Fund’s Investment Adviser.
Item 9.01 Financial Statements and Exhibits

(d)            Exhibits

The following exhibit is filed as part of this report:

(i)          November 2014 Monthly Summary Report


 
 

 
 
SIGNATURE
 
    Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

   
The Mexico Fund, Inc.
     
     
Date: December 5, 2014 By:
/s/ Lisa R. Price
 
 
Lisa R. Price
   
Assistant Secretary

EX-99.1 2 mfexh120414.htm MONTHLY SUMMARY REPORT mfexh120414.htm
 
 Monthly Summary Report    November 30, 2014
     
 
 
 

Description
 
The Mexico Fund, Inc. (the “Fund”) 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. The Fund’s shares are listed and traded on the New York Stock Exchange (“NYSE”) under the symbol “MXF.”
 
Managed Distribution Plan (“MDP”)
 
The Board of Directors of the Fund has authorized quarterly distributions under the MDP at an annual rate of 10% of the Fund’s net asset value (“NAV”) per share recorded on the last business day of the previous calendar year. With each distribution, the Fund will issue a notice to stockholders and an accompanying press release, which will provide detailed information regarding the amount and composition of the distribution and other information required by the Fund’s MDP exemptive order. The Fund’s Board of Directors may amend or terminate the MDP at any time without prior notice to stockholders; however, at this time, there are no reasonably foreseeable circumstances that might cause the termination of the MDP. You should not draw any conclusions about the Fund’s investment performance from the amount of distributions or from the terms of the Fund’s MDP.
 
 
Highlights
       
         
Total Net Assets (million)1
$382.58
 
Daily Average Number of Shares Traded2
47,053
NAV per share1
$25.34
 
Outstanding Shares3
15,097,256
Closing price NYSE4
$24.83
 
Expense Ratio (4/30/2014)
1.68%
Premium (Discount)
(2.01%)
 
Portfolio Turnover (4/30/2014)
16.89%
 
 
Performance5
Cumulative
Annualized
 
1 Month
YTD
1 Year
3 Years
5 Years
10 Years
Market Price
-7.76%
-8.36%
-4.58%
13.85%
13.56%
14.32%
NAV per share
-4.99%
-4.11%
-2.17%
11.00%
10.53%
12.40%
MSCI Mexico Index
-4.71%
-2.35%
-0.69%
7.66%
7.95%
12.54%
Bolsa IPC Index
-4.79%
-2.29%
-0.61%
7.17%
7.56%
13.45%
 
 

These figures represent past performance. Past performance does not guarantee future results. The Fund's investment return and principal value will fluctuate so that an investor's shares, at the time of sale, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted above.
 
 

1 Source: Impulsora del Fondo México, S.C. (“Impulsora”).
2 Source: NYSE. Figure represents average volume traded on all U.S. consolidated markets during the month.
3 During November 2014, the Fund issued 1,700 shares under its Equity Shelf Program.
4 Source: NYSE.
5 Source: Impulsora. All figures take into account reinvestment of distributions.
 
 
 
     
   www.themexicofund.com  1
     
 
 

 
 

 
 
 
The Mexico Fund, Inc.    November 30, 2014
     
 
 

Top Ten Holdings  (67.68% of Net Assets)
1 América Móvil
16.19%
6 Alfa
5.60%
2 Fomento Económico Mexicano
10.18%
7 Wal-Mart de México
4.32%
3 Cemex
9.47%
8 Grupo México
4.06%
4 Grupo Financiero Banorte
5.91%
9 Kimberly-Clark de México
3.31%
5 Grupo Televisa
5.80%
10 Liverpool
2.84%
 

Holdings are subject to change and are provided for informational purposes only and should not be deemed as a recommendation to buy or sell the securities shown.
 
Fund Manager´s Comments
 
Volatility extended throughout November 2014 across international equity markets, with a wide range of variations around the globe. In the United States, the three most important equity indices (DJIA, S&P500 and Nasdaq) registered historical maximum levels during the month, as positive economic figures attracted investors’ attention for U.S. equity securities. Emerging markets registered mixed performances. Investors preferred Asian equity securities over Latin American, which were among the worst performing markets during the month of November. The Mexican equity market declined 4.71% and the peso depreciated 3.2% to Ps. 13.9293. The steep decline of international oil prices and the revaluation of the U.S. dollar were two important factors that drove markets down during this month.
 
In local news, investors’ sentiment towards Mexico continued to be affected by renewed security concerns after the disappearance of 43 students in the southern state of Guerrero and political instability due to corruption scandals. In response, President Enrique Peña Nieto announced a ten-step plan aimed at improving security and the rule of law. Among the changes announced is a new bill aimed at protecting local authorities against organized crime, the reduction of 1,800 municipal police forces to 32 state police corporations and the creation of special economic areas in the states of Guerrero, Michoacán, Oaxaca and Chiapas under which infrastructure activity will be fostered to create jobs and mitigate poverty.
 
____________________________________________________________________________________________
 
The information presented in this report has been derived from the sources indicated. Neither The Mexico Fund, Inc. nor its Adviser, Impulsora del Fondo México, S.C., has independently verified or confirmed the information presented herein.
 
Important Risk Disclosure
 
All performance shown is historical, assumes reinvestment of distributions and does not guarantee future results. Investment return and principal value fluctuate with changing market conditions so when sold, shares may be worth more or less than that of the original cost. Total return based on market price reflects changes in market value. Total return based on net asset value reflects changes in the Fund’s net asset value during each period.
 
Current performance may be lower or higher than the performance data quoted. This commentary is for informational purposes only, and is not intended as an offer or recommendation with respect to the purchase or sale of any security, option, future or other derivatives in such securities.
 
Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund’s investment return and principal value will fluctuate so that an investor’s shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (premium) or below (discount) the NAV of the fund’s portfolio. The NAV is the value of an entity’s assets less the value of its liabilities. The Market Price is the current price at which an asset can be bought or sold. There is no assurance that the Fund will achieve its investment objective. Past performance does not guarantee future results.
 
An investment in the Fund entails special risk considerations, including among others the risks of foreign investments, Mexican investments, market illiquidity and volatility, market corrections, risks associated with the Mexican economy, political factors and security, currency exchange rate fluctuations, NAV discount risk, foreign custody risk, dollar denominated investments risk and risks associated with the concentration of the Mexican equity market. Investors should consider their investment goals, time horizons and risk tolerance before investing in the Fund. An investment in the Fund is not appropriate for all investors, and the Fund is not intended to be a complete investment program. Investors should carefully review and consider the Fund's investment objective, risks, charges and expenses before investing.


   www.themexicofund.com  2
     


 
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