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: April 10, 2012
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By:
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Sander M. Bieber
/s/ Sander M. Bieber
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Assistant Secretary
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March 31, 2012
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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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$370.39
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$354.16
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$424.16
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NAV per share
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$27.72
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$26.50
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$31.68
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Closing price NYSE2
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$25.25
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$24.60
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$29.00
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% Premium (Discount)
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(8.91%)
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(7.17%)
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(8.46%)
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Shares traded per month2 (composite figures)
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978,547
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802,241
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414,448
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Outstanding shares3
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13,362,856
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13,362,856
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13,388,976
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Shares on Short Interest Position2
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23,335
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22,345
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11,458
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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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2.64%
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15.56%
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25.32%
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-0.85%
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NAV per share
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4.60%
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16.28%
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26.15%
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-1.42%
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Bolsa Index
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4.93%
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15.95%
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27.97%
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-1.91%
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MSCI Mexico Index
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4.96%
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15.22%
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26.40%
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-0.66%
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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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23.89%
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173.45%
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22.44%
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269.87%
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NAV per share
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18.31%
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150.40%
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11.17%
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292.56%
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Bolsa Index
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14.67%
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122.44%
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18.39%
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277.82%
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MSCI Mexico Index
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17.17%
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124.75%
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11.60%
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225.23%
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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 Index5
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39,521.24
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37,816.69
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37,440.51
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Daily avg. of million shares traded
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381.7
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434.0
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226.1
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Valuation Ratios6: P/E
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19.79
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19.28
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19.16
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P/BV
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2.77
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2.69
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3.06
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EV/EBITDA
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8.51
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8.31
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9.19
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Market capitalization (billion US$)
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$518.82
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$501.43
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$496.51
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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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4.24%
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4.32%
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4.27%
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Six months
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4.51%
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4.48%
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4.57%
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One year
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4.63%
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4.60%
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4.75%
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Long-term Bonds
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Three years
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4.99%
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4.92%
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5.90%
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Five years
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5.29%
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5.00%
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6.73%
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Ten years
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N.A.
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N.A.
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N.A.
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20 years
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N.A.
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7.24%
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8.30%
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30 years
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7.67%
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N.A.
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N.A.
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Currency Market8
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Exchange Rate (Ps/US$)
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Ps. 12.8107
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Ps. 12.8624
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Ps. 11.9048
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Month
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Year to Date
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Last 12 Months
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Inflation Rates on Previous Month
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|||
Consumer Price Index9 (CPI)
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Percent of
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|||||
Shares Held
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COMMON STOCK - 90.72%
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Value
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Net Assets
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Airports
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||||
1,000,000
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Grupo Aeroportuario del Sureste, S.A.B. de C.V. Series B
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$6,875,503
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1.85%
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Beverages
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1,865,000
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Arca Continental, S.A.B. de C.V.
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8,887,746
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2.40
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540,000
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Coca-Cola Femsa, S.A.B. de C.V. Series L
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5,729,336
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1.55
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3,850,000
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Fomento Económico Mexicano, S.A.B. de C.V. Series UBD
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31,654,828
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8.54
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700,000
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Grupo Modelo, S.A.B. de C.V. Series C
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4,874,597
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1.31
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51,146,507
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13.80
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Building Materials
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18,000,000
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Cemex, S.A.B. de C.V. Series CPO
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13,854,044
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3.74
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Chemical Products
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3,500,000
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Mexichem, S.A.B. de C.V.
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13,477,406
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3.64
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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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5,704,606
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1.54
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Consumer Products
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6,600,000
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Kimberly-Clark de México, S.A.B. de C.V. Series A
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14,636,671
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3.95
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Financial Groups
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1,470,000
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Banregio Grupo Financiero, S.A.B. de C.V. Series O
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4,003,552
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1.08
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4,200,000
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Grupo Financiero Banorte, S.A.B. de C.V. Series O
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18,680,946
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5.04
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22,684,498
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6.12
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Food
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4,820,000
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Grupo Bimbo, S.A.B. de C.V. Series A
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11,227,240
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3.03
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1,500,000
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Grupo Herdez, S.A.B. de C.V.
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3,101,704
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0.84
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14,328,944
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3.87
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Health Care
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3,600,000
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Genomma Lab Internacional, S.A.B. de C.V. Series B
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6,553,272
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1.77
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Holding Companies
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1,000,000
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Alfa, S.A.B. de C.V. Series A
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14,364,555
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3.88
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1,620,000
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Grupo Carso, S.A.B. de C.V. Series A1
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5,072,182
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1.37
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19,436,737
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5.25
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Housing
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1,300,000
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Urbi Desarrollos Urbanos, S.A.B. de C.V.
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1,554,638
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0.42
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Media
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4,500,000
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Grupo Televisa, S.A.B. Series CPO
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19,014,183
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5.13
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Mining
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6,711,782
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Grupo México, S.A.B. de C.V. Series B
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21,145,411
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5.71
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105,500
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Industrias Peñoles, S.A.B. de C.V.
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5,109,265
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1.38
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26,254,676
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7.09
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Percent of
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Shares Held
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COMMON STOCK
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Value
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Net Assets
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Retail
|
||||
104,500
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First Cash Financial Services, Inc.
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4,481,997
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1.21
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2,000,000
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Grupo Comercial Chedraui, S.A.B. de C.V. Series B
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5,209,708
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1.41
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1,620,000
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El Puerto de Liverpool, S.A.B. de C.V. Series C-1
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13,304,519
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3.59
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10,830,000
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Wal-Mart de México, S.A.B. de C.V. Series V
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36,402,367
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9.83
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59,398,591
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16.04
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||||
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Steel
|
||||
315,400
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Ternium, S.A.
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7,468,737
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2.02
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Stock Exchange
|
||||
3,200,000
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Bolsa Mexicana de Valores, S.A.B. de C.V. Series A
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6,452,106
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1.74
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Telecommunications Services
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34,268,000
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América Móvil, S.A.B. de C.V. Series L
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42,611,976
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11.50
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250,000
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NII Holdings, Inc.
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4,577,424
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1.24
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47,189,400
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12.74
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||||
Total Common Stock
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$336,030,519
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90.72%
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Securities
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SHORT-TERM SECURITIES – 13.39%
|
||||
Principal
Amount
|
|||||
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Repurchase Agreements
|
||||
$33,546,304
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BBVA Bancomer, S.A., 4.47%, dated 03/31/12, due 04/02/12 repurchase
price $33,554,635 collateralized by Bonos del Gobierno Federal.
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$33,546,304
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9.06%
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Time Deposits
|
|||||
Comerica Bank, 0.06%, dated 03/31/12, due 04/02/12
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16,029,042
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4.33
|
|||
Total Short-Term Securities
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49,575,346
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13.39
|
|||
Total Investments
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385,605,865
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104.11
|
|||
Liabilities in Excess of Other Assets
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(15,218,750)
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(4.11)
|
|||
Net Assets Equivalent to $27.72 per share on 13,362,856 shares of capital stock outstanding
|
$370,387,115
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100.00%
|
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