The Mexico Equity and Income Fund, Inc. (the “Fund”) (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 (“NAV”) for the common and preferred stock was $10.79 per share, based on 7,434,004 and 82,773 shares outstanding, respectively. The Fund’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 Fund’s net realized and unrealized gains totaled $26,092,679 and the Fund’s net investment loss was $(54,995).
On April 30, 2010, the Fund’s investments in equity and fixed income securities of Mexican companies totaled $80,709,317 (or 99.56% of the Fund’s net assets), while cash and cash equivalents (excluding foreign currency) totaled $3,413,618 (or 4.20% of the Fund’s net assets) and other liabilities in excess of assets totaled $(3,051,857) (or (3.76)% of the Fund’s net assets).As of April 30, 2010, the Fund’s 10 largest equity investments represented 69.0% of the Fund’s net assets and are listed below in descending order:
|1.||America Movil, S.A. de C.V. – Class – L||17.2%|
|2.||Genomma Lab Internacional S.A.||13.4%|
|3.||Grupo Mexico, S.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. – Class A||4.1%|
|8.||Grupo Financiero Banorte, S.A. de C.V. – 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%|