Business & Finance
Business and Finance
Business and Finance
Thu, July 1, 2010 The Mexico Equity and Income Fund, Inc. Announces Earnings for the Nine Month Period Ended April 30, 2010.
NEW YORK--([ BUSINESS WIRE ])--The Mexico Equity and Income Fund, Inc. (the aFunda) (NYSE: MXE) (NYSE: MXEPR), today announced unaudited results for the nine month period ended April 30, 2010.
On April 30, 2010, total net assets of the Fund were $81,073,588 and the net asset value (aNAVa) for the common and preferred stock was $10.79 per share, based on 7,434,004 and 82,773 shares outstanding, respectively. The Funda™s common stock closed on the New York Stock Exchange on that date at $9.68.
For the nine month period ended April 30, 2010, the Funda™s net realized and unrealized gains totaled $26,092,679 and the Funda™s net investment loss was $(54,995).
On April 30, 2010, the Funda™s investments in equity and fixed income securities of Mexican companies totaled $80,709,317 (or 99.56% of the Funda™s net assets), while cash and cash equivalents (excluding foreign currency) totaled $3,413,618 (or 4.20% of the Funda™s net assets) and other liabilities in excess of assets totaled $(3,051,857) (or (3.76)% of the Funda™s net assets).
As of April 30, 2010, the Funda™s 10 largest equity investments represented 69.0% of the Funda™s net assets and are listed below in descending order:
| 1. | America Movil, S.A. de C.V. a" Class a" L | 17.2% | ||
| 2. | Genomma Lab Internacional S.A. | 13.4% | ||
| 3. | Grupo Mexico, S.A. a" Series B | 8.4% | ||
| 4. | Grupe, S.A. de C.V. | 5.8% | ||
| 5. | Wal-Mart de Mexico | 4.9% | ||
| 6. | Promotora y Operadora de Infraestructura, S.A. de C.V. | 4.9% | ||
| 7. | Alfa, S.A. a" Class A | 4.1% | ||
| 8. | Grupo Financiero Banorte, S.A. de C.V. a" Class O | 3.7% | ||
| 9. | Impulsora del Desarrollo y el Empleo en America Latina, S.A. de C.V. | 3.5% | ||
| 10. | Fomento Economico Mexicano, S.A.B. de C.V. | 3.1% |
The Fund is a closed-end management investment company that seeks high total return through capital appreciation and current income by investing primarily in equity and convertible debt securities issued by Mexican companies and debt securities of Mexican issuers. Pichardo Asset Management, S.A. de C.V. is the investment adviser to the Fund. The Funda™s common and preferred stocks are traded on the New York Stock Exchange under the trading symbol aMXEa and aMXEPRa, respectively.
Periodically updated information on the Fund can be obtained by calling the Funda™s dedicated telephone line or by visiting the Funda™s website at [ www.mxefund.com ]. Information includes a recorded update providing the Funda™s net asset value. The Funda™s toll free number is (866) 700-6104. Inquiries regarding change of address, transfer of shares, lost certificates, and non-receipt of dividend checks or reinvestment statements should be directed to Computershare Investor Services, P.O. Box A35014, Chicago, IL 60690-3504; (888) 294-8217.
