Mexico Fund (NYSE: MXF) posts May performance and maintains $0.35 distribution

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

The Mexico Fund, Inc., a NYSE-listed closed-end fund focused on Mexican equities, reports updated portfolio metrics and market commentary for May 2026. The Board has authorized ongoing quarterly distributions of $0.35 per share under its Managed Distribution Plan, which it may amend or terminate at any time.

The fund’s net asset value was $25.32 per share with total net assets of $365.16M, while the market price was $22.26, a 12.09% discount to NAV. One-year market-price return was 41.80% and one-year NAV return was 29.89%, compared with the MSCI Mexico Index at 39.64%. Top holdings include Grupo México, Fomento Económico Mexicano, and Grupo Financiero Banorte, together with other large Mexican corporates.

Management notes the fund modestly lagged its benchmark in May as its NAV rose 2.7% versus a 3.2% gain for the MSCI Mexico Index. The update highlights supportive but mixed macro conditions, including a Bank of Mexico rate cut, modest GDP growth, and rating-agency actions that still leave Mexico at investment-grade status, alongside reminders of the fund’s risks and potential NAV discount volatility.

Key Figures

Total net assets: $365.16M NAV per share: $25.32 Closing market price: $22.26 +5 more

8 metrics

Total net assets $365.16M Fund net assets

NAV per share $25.32 Net asset value per share

Closing market price $22.26 Share closing price

Market discount to NAV 12.09% Share price vs NAV

Expense ratio 1.36% As of 10/31/2025

Portfolio turnover 13.14% As of 10/31/2025

Quarterly distribution $0.35 per share Managed Distribution Plan

1-year NAV return 29.89% Cumulative performance

Key Terms

Managed Distribution Plan, net asset value, expense ratio, portfolio turnover, +1 more

5 terms

Managed Distribution Plan financial

"The Board of Directors of the Fund has authorized quarterly distributions of $0.35 per share under the MDP."

A managed distribution plan is a company’s program to pay regular, predictable cash amounts to shareholders by setting a fixed schedule and target payout, often funded from operating cash, reserves, or return of capital. Think of it like a household budget that guarantees a monthly allowance: it provides steady income for investors but can mask when distributions exceed sustainable earnings, which may reduce the company’s capital over time and affect long‑term value.

net asset value financial

"The NAV is the value of an entity’s assets less the value of its liabilities."

Net asset value is the total value of an investment fund's assets minus any liabilities, divided by the number of shares or units outstanding. It represents the per-share worth of the fund, similar to how the value of a house is determined by its total worth after debts are subtracted. Investors use it to gauge the true value of their holdings and to compare different investment options.

expense ratio financial

"Expense Ratio (10/31/2025) | 1.36%"

The expense ratio is the annual fee a mutual fund or exchange-traded fund charges to cover its operating costs, shown as a percentage of the fund’s assets. Think of it like a yearly maintenance or subscription fee that quietly reduces your investment’s returns; even small differences matter over time because the fee compounds against your gains. Investors compare expense ratios to judge how much of their returns will be eaten by fund costs.

portfolio turnover financial

"Portfolio Turnover (10/31/2025) | 13.14%"

Portfolio turnover measures how much of an investment portfolio’s holdings are bought and sold over a set period, usually a year, expressed as a percentage of the total assets. Think of it like how often you swap items in a pantry: higher turnover means frequent trading, which can signal an active strategy but also raises trading costs and taxable events that can lower an investor’s net returns; lower turnover suggests a buy-and-hold approach with fewer transaction-related expenses.

investment-grade status financial

"Despite these actions, Mexico continues to maintain its investment-grade status."

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06/05/2026 - 08:16 AM

EXHIBIT 99.1

The Mexico Fund, Inc.

Monthly Summary Report | May 31, 2026

Description

The Mexico Fund, Inc. (the “Fund”) 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 Exchanges. 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. The Fund’s shares are listed and traded on the New York Stock Exchange (“NYSE”) under the symbol “MXF.”

Managed Distribution Plan (“MDP”)

The Board of Directors of the Fund has authorized quarterly distributions of $0.35 per share under the MDP. With each distribution, the Fund will issue a notice to stockholders and an accompanying press release, which will provide detailed information regarding the amount and composition of the distribution and other information required by the Fund’s MDP exemptive order. The Fund’s Board of Directors may amend or terminate the MDP at any time without prior notice to stockholders. You should not draw any conclusions about the Fund’s investment performance from the amount of distributions or from the terms of the Fund’s MDP.

Highlights

Total Net Assets (million)^¹	$365.16	Daily Average Number of Shares Traded^²	58,378
NAV per share¹	$25.32	Outstanding Shares^³	14,420,065
Closing price²	$22.26	Expense Ratio (10/31/2025)	1.36%
Discount	12.09%	Portfolio Turnover (10/31/2025)	13.14%

Performance¹	Cumulative			Annualized
Performance¹	1 Month	YTD	1 Year	3 Years	5 Years	10 Years	Dec – 08⁴
MXF Market Price	5.30%	14.12%	41.80%	17.53%	13.71%	8.27%	9.48%
MXF NAV	2.73%	12.70%	29.89%	12.22%	12.03%	7.46%	8.91%
MSCI Mexico Index	3.19%	14.49%	39.64%	14.94%	13.75%	7.97%	7.92%

These figures represent past performance. Past performance does not guarantee future results. The Fund’s investment return and principal value will fluctuate so that an investor’s shares, at the time of sale, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted above.

¹Source: Impulsora del Fondo México, S.C. Performance figures take into account reinvestments of distributions.

²Source: NYSE. Shares traded figure represents average volume traded on U.S. consolidated markets during the month.

³During May 2026, the Fund repurchased no shares.

⁴ On January 1, 2009, the current portfolio management team began managing the Fund´s portfolio.

www.themexicofund.com

The Mexico Fund, Inc.

Monthly Summary Report | May 31, 2026

Top Ten Holdings (67.00% of Net Assets)
1 Grupo México	16.47%	6 América Móvil	4.51%
2 Fomento Económico Mexicano	9.94%	7 Grupo Aeroportuario del Pacífico	3.87%
3 Grupo Financiero Banorte	9.70%	8 Arca Continental	3.37%
4 Cemex	6.84%	9 Gcc	3.33%
5 Wal-Mart de México	5.79%	10 Industrias Peñoles	3.18%

Holdings are subject to change and are provided for informational purposes only and should not be deemed as a recommendation to buy or sell the securities shown.

Fund Manager’s Comments

Global equity markets registered positive returns during May 2026. The MSCI World Index and the MSCI Emerging Markets Index increased 4.4% and 9.5%, respectively, during the month. The DJIA and the S&P 500 increased 2.8% and 5.1%, respectively, while the yield on the 10-year Treasury note increased 7 basis points to 4.44% and the U.S. dollar depreciated 0.9% (measured by the DXY Index⁵) during May 2026. In Mexico, the MSCI Mexico Index increased 3.2% and the Mexican peso appreciated 0.6% during the month, to Ps. $17.36, whereas the Fund’s NAV increased 2.7%, underperforming its benchmark.

In local news, Mexico´s Central Bank decreased its reference interest rate by 25 basis points to 6.50% in May 2026. Mexico´s official GDP^⁶ reported an annual increase of 0.4% during the first quarter of 2026. Regarding sovereign credit ratings, Moody’s downgraded Mexico’s rating from ‘Baa2’ to ‘Baa3’ with a stable outlook, while S&P affirmed Mexico’s ‘BBB’ rating but revised its outlook from stable to negative. Despite these actions, Mexico continues to maintain its investment-grade status.

_________________________________

The information presented in this report has been derived from the sources indicated. Neither The Mexico Fund, Inc. nor its Adviser, Impulsora del Fondo México, S.C., has independently verified or confirmed the information presented herein.

Important Risk Disclosure

All performance shown is historical. Closed-end funds are traded on the secondary market through one of the stock exchanges. Shares of closed-end funds may trade above (premium) or below (discount) the NAV of the fund’s portfolio. The NAV is the value of an entity’s assets less the value of its liabilities. The Market Price is the current price at which an asset can be bought or sold. There is no assurance that the Fund will achieve its investment objective.

An investment in the Fund entails special risk considerations, including among others the risks of foreign investments, Mexican investments, market illiquidity and volatility, market corrections, risks associated with the Mexican economy, political factors and security, currency exchange rate fluctuations, NAV discount risk, foreign custody risk, dollar denominated investments risk and risks associated with the concentration of the Mexican equity market. Investors should consider their investment goals, time horizons and risk tolerance before investing in the Fund. An investment in the Fund is not appropriate for all investors, and the Fund is not intended to be a complete investment program. Investors should carefully review and consider the Fund’s investment objective, risks, charges and expenses before investing.

⁵ DXY Index computes the value of the U.S. dollar relative to a basket of foreign currencies.

⁶ Figures for official GDP are seasonally adjusted.

www.themexicofund.com

Source: View Original Filing on SEC EDGAR

FAQ

What is The Mexico Fund (MXF) and its investment objective?

The Mexico Fund is a non-diversified closed-end fund seeking long-term capital appreciation by investing mainly in Mexican equities listed on local exchanges. It trades on the NYSE under symbol MXF and offers managed exposure to Mexican companies.

How much does The Mexico Fund (MXF) distribute under its Managed Distribution Plan?

The Board has authorized quarterly distributions of $0.35 per share under its Managed Distribution Plan. Each payment is accompanied by a notice explaining the amount and composition, and the Board may amend or terminate the plan without prior stockholder notice.

What are The Mexico Fund’s (MXF) recent NAV and market price metrics?

The fund reports a net asset value of $25.32 per share and a market closing price of $22.26. This represents a 12.09% discount of the share price to NAV, a common feature of closed-end funds trading on exchanges like the NYSE.

How has The Mexico Fund (MXF) performed versus the MSCI Mexico Index?

Over one year, the fund’s market price returned 41.80% and NAV returned 29.89%, compared with 39.64% for the MSCI Mexico Index. In May 2026 alone, NAV rose 2.73%, slightly below the index’s 3.19%–3.2% gain, indicating modest underperformance that month.

What are the top holdings in The Mexico Fund (MXF)?

The top ten holdings, representing 67.00% of net assets, include Grupo México, Fomento Económico Mexicano, Grupo Financiero Banorte, Cemex, Wal-Mart de México, América Móvil, Grupo Aeroportuario del Pacífico, Arca Continental, GCC, and Industrias Peñoles. Holdings may change over time.

What key risks does The Mexico Fund (MXF) highlight for investors?

The fund cites risks linked to foreign and Mexican investments, market illiquidity and volatility, Mexican economic and political conditions, security concerns, currency fluctuations, NAV discounts, foreign custody, dollar-denominated assets, and the concentrated nature of Mexico’s equity market, which can all affect returns.

Filing Exhibits & Attachments

6 documents

Press Releases

EX-99.1 SUMMARY REPORT 39.4 KB