COLUMBIA, Md., June 25, 2021 /PRNewswire/ -- The Mexico Fund, Inc. (NYSE:MXF), today issued its fiscal 2021 semi-annual report for the period ended April 30, 2021.

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

Semi-Annual Report 2021 Highlights

During the first half of fiscal year 2021, the Fund's NAV per share and market price recovered sharply, registering a total return of 32.70% and 38.61%, respectively, while the Fund's benchmark, the Morgan Stanley Capital International ("MSCI") Mexico Index, increased 36.10%. Although the Fund's NAV per share underperformed its benchmark during the period, it has outperformed its benchmark during the one-, three-, five- and ten-year periods ended on April 30, 2021, as shown in the table below:

	Annualized % Return in USD
	1-year	3-years	5-years	10-years
MXF Market Price	70.06	0.63	0.82	0.68
MXF NAV	67.50	0.25	0.22	0.42
MSCI Mexico Index	58.05	-1.62	-0.77	-1.13

As of April 30, 2021, the Fund's market price and NAV per share were $14.54 and $16.80, respectively, reflecting a discount of 13.45%, compared with a discount of 17.14% at the end of fiscal year 2020.

At its June 2021 meeting, the Board of Directors (the "Board") decided to reinstate its Managed Distribution Plan ("MDP"). In June 2020 the Board temporarily suspended the Fund's MDP due to the significant decrease in net assets and uncertainty produced by the COVID-19 pandemic. Notwithstanding, the Board maintained a commitment to reinstate the MDP as soon as it deemed advisable. During the Fund's first half of fiscal year 2021, Fund net assets recovered along with global financial markets, the economic outlook improved, and the Fund experienced a recovery in dividends received from portfolio issuers. Accordingly, the Board has reinstated its MDP, and has declared a distribution of $0.18 per share to be paid on July 29, 2021, to stockholders of record as of July 22, 2021.

The Fund's Expense Limitation Agreement was reinforced for fiscal year 2021. The commitment to limit the ordinary expense ratio at 1.50% (which excludes, among other things, the performance component of the Investment Advisory fee) was maintained for fiscal year 2021, but with a lower threshold for Fund net assets of $180 million, instead of the prior threshold of $200 million. In addition, the Fund announced on November 3, 2020, further reductions in certain operating expenses. The Fund's ordinary expense ratio during the first half of fiscal year 2021 was 1.46%, below the limit of 1.50%.

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.

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SOURCE The Mexico Fund, Inc.

The Mexico Fund, Inc. Issues Its Fiscal 2021 Semi-annual Report