THE MEXICO FUND, INC. ISSUES ITS 2022 ANNUAL REPORT

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Dec 22, 2022, 15:00 ET

COLUMBIA, Md., Dec. 22, 2022 /PRNewswire/ -- The Mexico Fund, Inc. (NYSE: MXF), today issued its fiscal 2022 Annual Report for the period ended October 31, 2022.

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

Annual Report 2022 Highlights

During fiscal year 2022, the Fund's NAV per share and market price registered a total return of 5.55% and -0.79%, respectively, while the Morgan Stanley Capital International ("MSCI") Mexico Index, increased 5.87%. The Fund´s NAV has outperformed its benchmark during the three-, five-, ten- and fifteen- year periods ended on October 31, 2022.

	Annualized % Return in USD
	1-year	3-years	5-years	10-years	15-years
MXF Market Price	-0.79	5.57	2.27	-0.31	1.41
MXF NAV	5.55	8.09	3.52	0.97	1.05
MSCI Mexico Index	5.87	7.13	2.27	-0.24	0.72

As of October 31, 2022, the Fund's market price and NAV per share were $14.14 and $17.62, respectively, reflecting a discount of 19.75%, compared with a discount of 13.97% at the end of fiscal year 2021.

The Fund´s Expense Limitation Agreement was renewed for fiscal year 2023 with a cap on the ordinary expense ratio (which excludes the performance component of the Investment Advisory fee, among other extraordinary expenses) of 1.40%, so long as Fund net assets remain greater than $260 million. The Fund's ordinary expense ratio during the fiscal year 2022 was 1.39%, below the limit of 1.40%.

The Fund has declared a distribution of $0.20 per share to be paid on January 26, 2023 to stockholders of record as of January 18, 2023.

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.

CONTACT:

Tofi Dayan

+5255-9138-3350

Email: [email protected]

SOURCE THE MEXICO FUND INC