The Mexico Fund, Inc. Issues Its Fiscal 2020 Annual Report

COLUMBIA, Maryland, Dec. 22, 2020 /PRNewswire/ -- The Mexico Fund, Inc. MXF, today issued its fiscal 2020 annual report for the period ended October 31, 2020.

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

Fiscal 2020 Highlights

During fiscal year 2020, the Fund's NAV per share registered a total return of -14.68%, significantly outperforming its benchmark, the Morgan Stanley Capital International ("MSCI") Mexico Index, which registered a total return of -20.75%. In addition, the Fund has outperformed its benchmark during all periods shown in the table below:

As of October 31, 2020, the Fund's market price and NAV per share were $10.49 and $12.66, respectively, reflecting a discount of 17.14%, compared with a discount of 12.63% at the end of fiscal year 2019.

During fiscal year 2020, the Fund and Impulsora had in place an Expense Limitation Agreement, in which the Fund's ordinary annual expense ratio was limited to 1.50% through October 31, 2020, as long as Fund net assets remained greater than $200 million. The agreement was reinforced for fiscal year 2021, as the Fund announced on November 3, 2020, a further reduction in some expenses. In addition, the commitment to limit the ordinary expense ratio at 1.50% was maintained for fiscal year 2021, but with a lower threshold for Fund net assets of $180 million, instead of the prior threshold of $200 million.

At its June 2020 meeting, the Board decided to temporarily suspend the Fund´s MDP. The Board will continue to review market and economic conditions regularly in order to reinstate it as soon as deemed advisable by the Board.

During these difficult times, the Fund and its Investment Adviser, Impulsora del Fondo México, S.C. ("Impulsora"), have been able to successfully implement all appropriate and recommended measures in order to ensure their employees' safety and to prevent further contagions, while performing all of the Fund's activities in an efficient and timely manner.

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.

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.