		The Mexico Fund, Inc. Monthly Summary Report ¦ March 31, 2016

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 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.

Highlights

Total Net Assets (million)¹	$304.46	Daily Average Number of Shares Traded²	17,611
NAV per share¹	$20.24	Outstanding Shares³	15,043,836
Closing price⁴	$17.95	Expense Ratio (10/31/2015)	1.59%
Premium (Discount)	-11.31%	Portfolio Turnover (10/31/2015)	16.52%

Performance⁵	Cumulative			Annualized
Performance⁵	1 Month	YTD	1 Year	3 Years	5 Years	10 Years
Market Price	11.91%	8.00%	-8.28%	-12.63%	0.85%	6.53%
NAV per share	10.54%	7.26%	-1.44%	-6.70%	1.13%	5.82%
MSCI Mexico Index	10.63%	7.21%	-5.70%	-7.51%	-1.10%	4.87%
Bolsa IPC Index	10.26%	6.52%	-5.50%	-7.86%	-1.68%	5.99%

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. ³During March 2016, the Fund repurchased noshares. ⁴ Source: NYSE. ⁵ Source: Impulsora. All figures take into account reinvestment of distributions
www.themexicofund.com	1

The Mexico Fund, Inc.

Monthly Summary Report ¦ March 31, 2016

Top Ten Holdings (57.86% of Net Assets)
1 América Móvil	11.49%	6 Cemex	4.53%
2 Fomento Económico Mexicano	8.56%	7 Grupo Aeropurtuario del Centro Norte	4.03%
3 Wal-Mart de México	7.79%	8 Kimberly-Clark de México	3.71%
4 Grupo Financiero Banorte	6.02%	9 Grupo Televisa	3.62%
5 Alfa	4.62%	10 Promotora y Operadora de Infraestructura	3.49%

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

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.

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%.

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

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.

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.

⁶DXY Index computes the value of the U.S. dollar relative to a basket of foreign currencies.