Mexico Fund reports 13.31% October discount to NAV
The Fund's ten largest holdings represented 67.52% of net assets, with Grupo México the largest at 15.46%.
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Rhea-AI Filing Summary
The Mexico Fund, Inc. (MXF) reported October 2026 portfolio data, including $335.9 million in total net assets, a $23.29 NAV per share and a $20.19 closing share price, at a reported 13.31% discount to NAV. The Fund’s NAV return was 3.31% for the month, compared with a 5.12% gain for the MSCI Mexico Index; its market-price return was 0.74%.
The Board has authorized quarterly distributions of $0.35 per share under the Managed Distribution Plan. It may amend or terminate the plan at any time without prior notice to stockholders. Past performance does not guarantee future results.
Filing Explained
The report also shows portfolio concentration: its ten largest holdings represented
Key Figures
Key Terms
Managed Distribution Plan financial
non-diversified financial
Portfolio Turnover financial
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EXHIBIT 99.1
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 | $335.9 | Daily Average Number of Shares Traded2 | 45,612 |
| NAV per share1 | $23.29 | Outstanding Shares3 | 14,420,065 |
| Closing price2 | $20.19 | Expense Ratio (4/30/2026) | 1.18% |
| Discount | 13.31% | Portfolio Turnover (4/30/2026) | 8.06% |
| Performance1 | Cumulative | Annualized | |||||
| 1 Month | YTD | 1 Year | 3 Years | 5 Years | 10 Years | Dec – 084 | |
| MXF Market Price | 0.74% | 7.01% | 11.15% | 16.81% | 12.13% | 7.42% | 8.85% |
| MXF NAV | 3.31% | 6.68% | 11.95% | 12.46% | 10.93% | 6.58% | 8.36% |
| MSCI Mexico Index | 5.12% | 10.37% | 17.07% | 16.59% | 13.02% | 7.17% | 7.50% |
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.
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1Source: Impulsora del Fondo México, S.C. Performance figures take into account reinvestments of distributions.
2 Source: NYSE. Shares traded figure represents average volume traded on U.S. consolidated markets during the month.
3 During October 2026, the Fund repurchased no shares.
4 On January 1, 2009, the current portfolio management team began managing the Fund´s portfolio.
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| Top Ten Holdings (67.52% of Net Assets) | |||
| 1 Grupo México | 15.46% | 6 América Móvil | 4.75% |
| 2 Grupo Financiero Banorte | 10.77% | 7 Grupo Aeroportuario del Pacífico | 4.13% |
| 3 Fomento Económico Mexicano | 10.12% | 8 Arca Continental | 3.51% |
| 4 Cemex | 7.37% | 9 Industrias Peñoles | 3.38% |
| 5 Wal-Mart de México | 5.19% | 10 Grupo Aeroportuario del Sureste | 2.84% |
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 negative returns during October 2026. The MSCI World Index and the MSCI Emerging Markets Index decreased 0.8% and 8.1%, respectively, during the month. On global monetary policy, the Federal Reserve and the European Central Bank maintained their target interest rate and main refinancing rate at a range of 3.75%-4.00% and at 2.65%, respectively. The DJIA increased 1.7%, while the S&P 500 decreased 0.9%; the yield on the 10-year Treasury note decreased 36 basis points to 4.93% and the U.S. dollar appreciated 0.4% (measured by the DXY Index5) during October 2026. In Mexico, the MSCI Mexico Index increased 5.1% and the Mexican peso depreciated 3.8% during the month, to Ps. $18.79, whereas the Fund’s NAV increased 3.3%, underperforming its benchmark.
In local news, the strong Mexican equity market performance was supported by positive developments: Mexico’s preliminary GDP6 for the third quarter of 2026 reported an annual increase of 3.2%, while Mexican-listed companies reported encouraging financial results for the third quarter of 2026, highlighted by an increase in profitability margins, with sales and EBITDA rising 6.4% and 10.0%, respectively, in local currency, compared to the third quarter of 2025.
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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.
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5 DXY Index computes the value of the U.S. dollar relative to a basket of foreign currencies.
6 Figures for preliminary GDP are seasonally adjusted.
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