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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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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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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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 7.01
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Regulation FD Disclosure
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Pursuant to Regulation FD Rules 100-103, The Mexico Fund, Inc. (the "Fund") furnishes the Monthly Summary Report of the Fund's Investment Adviser.
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Item 9.01
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Financial Statements and Exhibits
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(d)
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Exhibits
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The following exhibit is filed as part of this report:
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(i)
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March 2016 Monthly Summary Report
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The Mexico Fund, Inc.
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Date: April 7, 2016
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By:
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/s/ Douglas P. Dick
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Douglas P. Dick
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Assistant Secretary
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The Mexico Fund, Inc.
Monthly Summary Report ¦ March 31, 2016
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Description
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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."
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Managed Distribution Plan ("MDP")
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The Board of Directors of the Fund has authorized quarterly distributions under the MDP at an annual rate of 6% 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.
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Highlights
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Total Net Assets (million)1
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$304.46
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Daily Average Number of Shares Traded2
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17,611
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NAV per share1
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$20.24
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Outstanding Shares3
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15,043,836
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Closing price4
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$17.95
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Expense Ratio (10/31/2015)
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1.59%
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Premium (Discount)
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-11.31%
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Portfolio Turnover (10/31/2015)
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16.52%
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Performance5
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Cumulative
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Annualized
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1 Month
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YTD
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1 Year
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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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11.91%
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8.00%
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-8.28%
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-12.63%
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0.85%
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6.53%
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NAV per share
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10.54%
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7.26%
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-1.44%
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-6.70%
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1.13%
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5.82%
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MSCI Mexico Index
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10.63%
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7.21%
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-5.70%
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-7.51%
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-1.10%
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4.87%
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Bolsa IPC Index
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10.26%
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6.52%
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-5.50%
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-7.86%
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-1.68%
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5.99%
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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.
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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 March 2016, the Fund repurchased noshares.
4 Source: NYSE.
5 Source: Impulsora. All figures take into account reinvestment of distributions
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www.themexicofund.com
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The Mexico Fund, Inc.
Monthly Summary Report ¦ March 31, 2016
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Top Ten Holdings (57.86% of Net Assets)
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1 América Móvil
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11.49%
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6 Cemex
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4.53%
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2 Fomento Económico Mexicano
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8.56%
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7 Grupo Aeropurtuario del Centro Norte
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4.03%
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3 Wal-Mart de México
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7.79%
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8 Kimberly-Clark de México
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3.71%
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4 Grupo Financiero Banorte
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6.02%
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9 Grupo Televisa
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3.62%
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5 Alfa
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4.62%
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10 Promotora y Operadora de Infraestructura
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3.49%
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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.
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Fund Manager´s Comments
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During March 2016 global equity markets increased sharply, led by a 13.0% increase in the MSCI Emerging Markets Index. The DJIA and the S&P 500 increased 7.1% and 6.6%, respectively, during the month, while the yield on the U.S. 10-year Treasury note increased 4 basis points to 1.77%. The U.S. Federal Reserve maintained the overnight interest rate at the current rate of between 0.25% and 0.50%. The European Central Bank increased further its monetary stimulus program by reducing its main refinancing rate by 5 basis points to 0.0% and increasing its bond buying program by €20 billion per month to €80 billion. The U.S. dollar depreciated 3.7% (measured by the DXY Index6) in March and oil prices recovered to $38.3 USD/bbl (measured by West Texas Intermediate), an increase of 7.8% during the month.
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In Mexico, the equity market and the exchange rate were positively impacted by global financial market optimism and announcements made during February by Mexico´s Central Bank ("Banxico") and the Ministry of Finance. As a result, the MSCI Mexico Index increased 10.6% during March, while the Mexican peso appreciated 5.0% to Ps $17.28. In addition, during its March meeting, Banxico maintained its overnight interest rate unchanged at 3.75%.
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In addition, Mexico held its first wholesale electricity auction, in which 11 companies won 18 long-term contracts to supply renewable energy to Mexico´s state-owned power company Comisión Federal de Electricidad, with an expected investment of around $2.6 billion during the next three years. The auction outcome marks another step forward on the implementation of Mexico´s energy reform.
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
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All performance shown is historical. Closed-end funds are traded on the secondary market through one of the stock exchanges. 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.
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6 DXY Index computes the value of the U.S. dollar relative to a basket of foreign currencies.
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www.themexicofund.com |
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