-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, KMtn+a9zCjMOq7PsB4iczTh265EB2p+JIsDfPl8GcATMbxqhED/jcOmWo+IjZbMT nBm98mSyDIiSSY6M6weH7Q== 0000894189-04-002699.txt : 20041222 0000894189-04-002699.hdr.sgml : 20041222 20041222140338 ACCESSION NUMBER: 0000894189-04-002699 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20041031 FILED AS OF DATE: 20041222 DATE AS OF CHANGE: 20041222 EFFECTIVENESS DATE: 20041222 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MEXICO EQUITY & INCOME FUND INC CENTRAL INDEX KEY: 0000863900 IRS NUMBER: 133576061 STATE OF INCORPORATION: MD FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-06111 FILM NUMBER: 041220164 BUSINESS ADDRESS: STREET 1: U.S. BANCORP FUND SERVICES, LLC STREET 2: 615 EAST MICHIGAN STREET, LC-2 CITY: MILWAUKEE STATE: WI ZIP: 53202 BUSINESS PHONE: 4147655307 MAIL ADDRESS: STREET 1: U.S. BANCORP FUND SERVICES, LLC STREET 2: 615 EAST MICHIGAN STREET, LC-2 CITY: MILWAUKEE STATE: WI ZIP: 53202 FORMER COMPANY: FORMER CONFORMED NAME: MEXICO CONVERTIBLE ADVANTAGE FUND INC DATE OF NAME CHANGE: 19900807 FORMER COMPANY: FORMER CONFORMED NAME: MEXICO ADVANTAGE FUND INC DATE OF NAME CHANGE: 19900805 N-Q 1 mexicoequitynq.htm MEXICO EQUITY AND INCOME FUNDS Mexico Equity and Income Funds




UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


 
FORM N-Q
 
 
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY
 




Investment Company Act file number 811-06111



The Mexico Equity and Income Fund, Inc.
(Exact name of registrant as specified in charter)



615 East Michigan Street
Milwaukee, WI 53202
(Address of principal executive offices) (Zip code)



Mr. Gerald Hellerman
C/O U.S. Bancorp Fund Services, LLC
615 E. Michigan Street
Milwaukee, WI 53202
(Name and address of agent for service)



866-700-6104
Registrant's telephone number, including area code



Date of fiscal year end: 7/31/2004



Date of reporting period: 10/31/2004



 
     
 


 
Item 1. Schedule of Investments.
 
 

 
THE MEXICO EQUITY AND INCOME FUND, INC.
      
 
 
      
 
Schedule of Investments (unaudited)
    
October 31, 2004
   
 
    
 
MEXICO - 97.14%
Shares
  
Value
         
 
COMMON STOCKS - 90.80%
     
         
 
Communications - 15.83%
      
 
America Movil, S.A. de C.V. - Class L
1,173,300
 
$ 2,591,225
 
America Movil, S.A. de C.V. - Class L ADR
42,300
 
1,861,200
 
Telefonos de Mexico, S.A. de C.V. - Class L
640,300
 
1,098,744
 
Telefonos de Mexico, S.A. de C.V. - Class L ADR
18,302
 
626,660
       
6,177,829
         
 
Cement - 3.91%
      
 
Cemex, S.A. de C.V. CPO
264,042
 
1,526,637
         
 
Construction - 8.63%
      
 
Empresas ICA Sociedad Controladora, S.A. de C.V.*
4,193,200
 
1,465,270
 
SARE Holding, S.A. de C.V. - Class B*
610,900
 
375,034
 
Urbi, Desarrollos Urbanos, S.A. de C.V.*
410,200
 
1,529,080
       
3,369,384
         
 
Financial Groups - 4.76%
      
 
Grupo Financiero Banorte, S.A. de C.V. - Class O
395,300
 
1,857,775
         
 
Food, Beverage, and Tobacco - 17.53%
      
 
Alsea, S.A. de C.V.
795,150
 
1,539,589
 
Fomento Economico Mexicano, S.A. de C.V. ADR
4,550
 
200,655
 
Fomento Economico Mexicano, S.A. de C.V. UBD
157,000
 
694,011
 
Gruma S.A. - Class B
1,378,500
 
2,749,171
 
Grupo Embotelladoras Unidas, S.A. de C.V. - Class B
381,900
 
1,655,720
       
6,839,146
         
 
Industrial Conglomerates - 8.08%
      
 
Alfa, S.A. - Class A
486,800
 
1,893,129
 
Grupo IMSA, S.A. de C.V. UBC
30,000
 
72,940
 
Hylsamex, S.A. de C.V. - Class B*
89,900
 
196,751
 
Hylsamex, S.A. de C.V. - Class L*
376,479
 
824,270
 
Industrias CH, S.A. - Class B*
25,900
 
167,310
       
3,154,400
         
 
 

 
     
 

 
 
THE MEXICO EQUITY AND INCOME FUND, INC. 
      
         
 
Schedule of Investments - (continued) (unaudited)
    
October 31, 2004
         
   
Shares
  
Value
         
 
Media - 6.42%
      
 
Grupo Televisa, S.A. ADR
13,000
$ 715,000
 
Grupo Televisa, S.A. CPO
650,500
1,791,974
       
2,506,974
         
 
Mining - 7.61%
      
 
Grupo Mexico, S.A. de C.V. - Class B*
718,400
2,968,847
         
 
Paper & Related Products - 1.29%
      
 
Kimberly-Clark de Mexico, S.A. de C.V. - Class A
168,400
504,057
         
 
Retailing - 15.35%
      
 
Controladora Comercial Mexicana S.A. de C.V. UBC
650,000
699,443
 
Grupo Elektra, S.A. de C.V.
236,900
1,867,633
 
Grupo Gigante, S.A. de CV - SER*
916,000
595,695
 
Wal-Mart de Mexico, S.A. de C.V. - Class V
863,984
2,828,067
       
5,990,838
         
 
Specialty Stores - 1.39%
      
 
Corporativo Fragua, S.A. - Class B
173,100
540,339
         
         
 
TOTAL COMMON STOCKS (Cost $29,775,561)
    
35,436,226
 

 
     
 

 
 
THE MEXICO EQUITY AND INCOME FUND, INC. 
      
         
 
Schedule of Investments - (continued) (unaudited)
    
October 31, 2004
         
 
CORPORATE BONDS - 2.20%
Titles
  
Value
         
 
Hylsamex, S.A. de C.V., 8.7500%, 03/08/2009
14,015
 
$ 430,064
 
Hylsamex, S.A. de C.V., 8.7500%, 09/08/2009
14,015
 
430,064
 
TOTAL CORPORATE BONDS (Cost $738,530)
    
860,128
         
 
INVESTMENT COMPANIES - 4.02%
Shares
    
         
 
GBM Fondo Corporativo de Liquidez Inmediata S.A. de C.V.
      
 
SIID para Personas Morales - Class B*
11,459,494
 
1,569,219
 
TOTAL INVESTMENT COMPANIES (Cost $1,572,182)
      
         
 
STRUCTURED EQUITY NOTE - 0.12%
Titles
    
         
 
Mexico Bolsa IPC Index* (Cost $44,271)
50
 
45,894
         
         
 
TOTAL MEXICO
    
37,911,467
         
   
Principal
    
 
UNITED STATES - 2.26%
Amount
  
 
         
 
CORPORATE BOND - 2.06%
      
         
 
Monterrey Power S.A. de C.V., 9.6250%, 11/15/2009
      
 
(Cost $721,217)
$ 675,000
$ 803,149
         
 

 
     
 

 
THE MEXICO EQUITY AND INCOME FUND, INC. 
      
         
 
Schedule of Investments - (concluded) (unaudited)
    
October 31, 2004
         
 
INVESTMENT COMPANY - 0.20%
Shares
  
Value
         
 
First American Treasury Obligations Fund - Class A
      
 
(Cost $79,871)
79,871
 
$ 79,871
         
 
TOTAL UNITED STATES
    
883,020
         
 
TOTAL INVESTMENTS - 99.40% (Cost $32,931,632)
    
38,794,487
         
 
OTHER ASSETS IN EXCESS OF LIABILITIES - 0.60%
    
231,642
         
 
TOTAL NET ASSETS - 100.00%
    
$ 39,026,129
         
 
Footnotes and Abbreviations
      
 
* - Non-Income producing security.
     
 
ADR - American Depository Receipts.
      
         
         



 
     
 

 
Item 2. Controls and Procedures.
 
(a) The Registrant’s President/Chief Executive Officer and Treasurer/Chief Financial Officer have concluded that the Registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “1940 Act”)) are effective as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rules 15d-15(b) under the Securities Exchange Act of 1934, as amended.

(b) There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the Registrant's last fiscal half-year that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting.


 
Item 3. Exhibits.
 
Separate certifications for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2(a)). Filed herewith.
 EX-99.CERT 2 certs.htm CERTS FOR FORM N-Q Certs for Form N-Q

 
CERTIFICATION
 
I, Maria Eugenia Pichardo, certify that:

1. I have reviewed this report on Form N-Q of The Mexico Equity and Income Fund, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) for the registrant and have:

  (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

  (b) [Omit];

  (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and

  (d) [Omit]; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

  (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and
  (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:  12/21/2004
/s/Maria Eugenia Pichardo 
 
Maria Eugenia Pichardo
President

  
    3 
 

 
CERTIFICATION
 
I, Gerald Hellerman, certify that:

1. I have reviewed this report on Form N-Q of The Mexico Equity and Income Fund, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) for the registrant and have:

  (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

  (b) [Omit];

  (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and

  (d) [Omit]; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

  (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

  (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:   12/14/04
/s/ Gerald Hellerman
 
Gerald Hellerman
Treasurer

  
    4 
 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


(Registrant) The Mexico Equity and Income Fund, Inc.

By (Signature and Title) /s/Maria Eugenia Pichardo 
                Maria Eugenia Pichardo, President

Date 12/21/04                    



Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title) /s/Maria Eugenia Pichardo 
                Maria Eugenia Pichardo, President

Date 12/21/04

By (Signature and Title) /s/ Gerald Hellerman
                 Gerald Hellerman, Treasurer
      Date 12/14/04
    
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