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, 2011.
On April 30, 2011, total net assets of the Fund were $92,295,533 and the net asset value (“NAV”) for the common and preferred stock was $13.30 per share, based on 6,880,949 and 57,639 shares outstanding, respectively. The Fund’s common and preferred stock closed on the New York Stock Exchange on that date at $11.71 and $11.70 respectively.
For the nine month period ended April 30, 2011, the Fund’s net realized and unrealized gains totaled $19,806,270 and the Fund’s net investment loss was $(154,086).
On April 30, 2011, the Fund’s investments in equity and fixed income securities of Mexican companies totaled $91,904,152 (or 99.6% of the Fund’s net assets), while cash and cash equivalents (excluding foreign currency) totaled $471,505 (or 0.5% of the Fund’s net assets). Other liabilities in excess of assets totaled $(80,124) (or 0.1% of the Fund’s net assets).As of April 30, 2011, the Fund’s 10 largest equity investments represented 61.2% of the Fund’s net assets and are listed below in descending order:
|1. America Movil, S.A. de C.V. – Class – L||16.9%|
|2. Grupo Mexico, S.A. – Series B||9.3%|
|3. Wal-Mart de Mexico||6.2%|
|4. Genomma Lab Internacional S.A.||4.6%|
|5. Grupe, S.A. de C.V.||4.2%|
|6. Industrias Penoles S.A.B. de C.V||4.1%|
|7. Fibra Uno Administracion S.A. de C.V.||4.1%|
|8. Promotora y Operadora de Infraestructura, S.A. de C.V.||4.1%|
|9. Kimberly-Clark MXC||3.9%|
|10. Mexichem S.A.B. de C.V.||3.8%|