MXF - The Mexico Fund Inc. Issues its Fiscal 2019 Annual Report

COLUMBIA, Maryland, Dec. 18, 2019 /PRNewswire/ -- The Mexico Fund, Inc. (NYSE: MXF), today issued its fiscal 2019 annual report for the period ended October 31, 2019.

A full version of the report is available at the company´s website – www.themexicofund.com

Fiscal 2019 Highlights

During fiscal year 2019, the Fund's NAV per share registered a total return of 5.31%, compared with a return of 6.83% registered by the Fund´s benchmark, the Morgan Stanley Capital International ("MSCI") Mexico Index over the same period. Despite the slight underperformance during fiscal year 2019, the Fund´s NAV per share has outperformed its benchmark during the three-, five- and ten-year periods ended on October 31, 2019, as follows:

As of October 31, 2019, the Fund's market price and NAV per share were $13.42 and $15.36, respectively, reflecting a discount of 12.63%, compared with a discount of 12.81% at the end of fiscal year 2018.

On April 2019, the Fund started an expense reduction program so that the Fund´s ordinary annual expense ratio does not exceed 1.50% from on April 1^st, 2019, through October 31^st, 2020, so long as Fund net assets remain greater than $200 million. As a result, the Fund´s expense ratio was reduced from 1.72% during the first six months of fiscal year 2019 to 1.50% in the second half of the year, for a total expense ratio of 1.61% during fiscal year 2019.

The Fund also declared a distribution of $0.25 per share to be paid on January 30, 2020 to stockholders of record as of January 23, 2020 under its Managed Distribution Plan ("MDP"). Since the implementation of the MDP in September 2008, the Fund has paid a total of $23.85 per share in cash distributions to stockholders.

About The Mexico Fund, Inc.

The Mexico Fund, Inc. 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.

Cautionary Note Regarding Forward-Looking Statements

This release may contain certain forward-looking statements regarding future circumstances. These forward-looking statements are based upon the Fund's current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements including, in particular, the risks and uncertainties described in the Fund's filings with the Securities and Exchange Commission. Actual results, events, and performance may differ. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Fund undertakes no obligation to release publicly any revisions to these forward looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by The Mexico Fund or any other person that the events or circumstances described in such statement are material.

SOURCE The Mexico Fund, Inc.