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: March 7, 2011
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By:
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/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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$413.28
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$413.41
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$364.97
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|||
NAV per share
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$30.87
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$30.86
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$26.26
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|||
Closing price NYSE2
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$27.68
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$27.99
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$23.03
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|||
% Premium (Discount)
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(10.33%)
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(9.30%)
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(12.30%)
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|||
Shares traded per month2 (composite figures)
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313,688
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456,872
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552,419
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|||
Outstanding shares3
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13,389,176
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13,398,345
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13,899,364
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|||
Shares on Short Interest Position2
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12,171
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19,704
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6,255
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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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-1.11%
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3.18%
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29.14%
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33.04%
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|||
NAV per share
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0.03%
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3.90%
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27.54%
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28.66%
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|||
Bolsa Index
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0.27%
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3.76%
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27.51%
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23.50%
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|||
MSCI Mexico Index
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0.13%
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3.26%
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26.17%
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25.81%
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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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198.87%
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20.61%
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67.87%
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419.83%
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|||
NAV per share
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169.98%
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7.01%
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61.08%
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385.66%
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|||
Bolsa Index
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159.68%
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8.44%
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70.99%
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391.67%
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|||
MSCI Mexico Index
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148.52%
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1.22%
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50.09%
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303.29%
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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
|
|||
Bolsa Index5
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37,019.70
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36,982.24
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31,634.54
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|||
Daily avg. of million shares traded
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252.7
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232.6
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295.5
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|||
Valuation Ratios6: P/E
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19.08
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21.36
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19.69
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|||
P/BV
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2.95
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3.01
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2.68
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EV/EBITDA
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8.56
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9.58
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8.43
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Market capitalization (billion US$)
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$512.94
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$509.65
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$392.15
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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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4.04%
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4.14%
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4.49%
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|||
Six months
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4.58%
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4.55%
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4.74%
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|||
One year
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4.81%
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4.76%
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5.00%
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|||
Long-term Bonds
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||||||
Three years
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5.87%
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5.89%
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6.10%
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|||
Five years
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N.A.
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6.27%
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7.05%
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|||
Ten years
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N.A.
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N.A.
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N.A.
|
|||
20 years
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8.18%
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N.A.
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N.A.
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|||
30 years
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8.31%
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8.18%
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8.49%
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|||
Currency Market8
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||||||
Exchange Rate (Ps/US$)
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Ps. 12.1016
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Ps. 12.1219
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Ps. 12.7719
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|||
Month
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Year to Date
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Last 12 Months |
||||
Inflation Rates on Previous Month
|
||||||
Consumer Price Index9 (CPI)
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0.49%
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0.49%
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3.78%
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Shares Held
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Percent of
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||||||||||
COMMON STOCK - 98.20%
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Value
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Net Assets
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|||||||||
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Airports
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||||||||||
800,500
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Grupo Aeroportuario del Sureste, S.A.B. de C.V. Series B
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$4,364,463
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1.06%
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||||||||
2,000,000
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Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. Series B
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3,551,596
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0.86
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||||||||
7,916,059
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1.92
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||||||||||
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Beverages
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||||||||||
2,985,100
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Fomento Económico Mexicano, S.A.B. de C.V. Series UBD
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16,780,951
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4.06
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||||||||
700,000
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Grupo Modelo, S.A.B. de C.V. Series C
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4,235,308
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1.02
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||||||||
21,016,259
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5.08
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||||||||||
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Building Materials
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||||||||||
20,085,000
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Cemex, S.A.B. de C.V. Series CPO
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18,057,513
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4.37
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||||||||
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Chemical Products
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||||||||||
4,140,000
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Mexichem, S.A.B. de C.V.
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14,881,503
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3.60
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||||||||
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Commercial Banks
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||||||||||
4,150,000
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Compartamos, S.A.B. de C.V.
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8,000,554
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1.94
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||||||||
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Construction and Infrastructure
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||||||||||
3,000,000
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Empresas ICA, S.A.B. de C.V.
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6,906,525
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1.67
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||||||||
3,160,000
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OHL México, S.A.B. de C.V.
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5,744,695
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1.39
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||||||||
12,651,220
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3.06
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||||||||||
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Consumer Products
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||||||||||
2,200,000
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Kimberly-Clark de México, S.A.B. de C.V. Series A
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12,807,397
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3.10
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||||||||
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Financial Groups
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||||||||||
3,920,000
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Grupo Financiero Banorte, S.A.B. de C.V. Series O
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17,802,869
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4.31
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||||||||
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Food
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||||||||||
1,800,000
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Grupo Bimbo, S.A.B. de C.V. Series A
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14,012,858
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3.39
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||||||||
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Health Care
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||||||||||
4,000,000
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Genomma Lab Internacional, S.A.B. de C.V. Series B
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8,841,806
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2.14
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||||||||
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Holding Companies
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||||||||||
2,000,000
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Alfa, S.A.B. de C.V. Series A
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24,909,103
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6.03
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||||||||
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Media
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||||||||||
6,325,000
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Grupo Televisa, S.A.B. Series CPO
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29,869,914
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7.23
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||||||||
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Mining
|
||||||||||
10,000,000
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Grupo México, S.A.B. de C.V. Series B
|
37,970,186
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9.19
|
||||||||
350,000
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Industrias Peñoles, S.A.B. de C.V.
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12,173,762
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2.95
|
||||||||
50,143,948
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12.13 |
Shares Held
|
Percent of
|
|||||
COMMON STOCK
|
Value
|
Net Assets
|
||||
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Retail
|
|||||
140,000
|
First Cash Financial Services, Inc.
|
4,583,642
|
1.11
|
|||
2,000,000
|
Grupo Comercial Chedraui, S.A.B. de C.V. Series B
|
6,151,253
|
1.49
|
|||
1,671,000
|
Grupo Famsa, S.A.B. de C.V. Series A
|
3,022,591
|
0.73
|
|||
1,347,000
|
Organización Soriana, S.A.B. de C.V. Series B
|
4,454,530
|
1.08
|
|||
1,620,000
|
El Puerto de Liverpool, S.A.B. de C.V. Series C-1
|
11,737,423
|
2.84
|
|||
12,780,000
|
Wal-Mart de México, S.A.B. de C.V. Series V
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36,560,752
|
8.84
|
|||
66,510,191
|
16.09
|
|||||
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Steel
|
|||||
905,100
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Industrias CH, S.A.B. de C.V. Series B
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3,551,113
|
0.86
|
|||
|
Stock Exchange
|
|||||
6,000,000
|
Bolsa Mexicana de Valores, S.A.B. de C.V. Series A
|
11,824,883
|
2.86
|
|||
|
Telecommunications Services
|
|||||
27,690,000
|
América Móvil, S.A.B. de C.V. Series L
|
79,352,251
|
19.20
|
|||
90,000
|
NII Holdings, Inc.
|
3,686,389
|
0.89
|
|||
83,038,640
|
20.09
|
|||||
Total Common Stock
|
$405,835,830
|
98.20%
|
Securities
|
SHORT-TERM SECURITIES – 1.93%
|
||||
Principal
Amount
|
|||||
|
Repurchase Agreements
|
||||
$1,428,041
|
BBVA Bancomer, S.A., 4.24%, dated 02/28/11, due 03/01/11 repurchase price $1,428,209 collateralized by Bonos del Gobierno Federal.
|
$1,428,041
|
0.34%
|
||
Time Deposits
|
|||||
Comerica Bank, 0.12%, dated 02/28/11, due 03/0/11
|
6,569,685
|
1.59
|
|||
Total Short-Term Securities
|
7,997,726
|
1.93
|
|||
Total Investments
|
413,833,556
|
100.13
|
|||
Liabilities in Excess of Other Assets
|
(555,144)
|
(0.13)
|
|||
Net Assets Equivalent to $30.87 per share on 13,389,176 shares of capital stock outstanding
|
$413,278,412
|
100.00%
|
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