other material
confidence high
sentiment negative
materiality 0.55
MXF August NAV falls 6.1%; discount widens to 19.69% on peso weakness, reform risks
MEXICO FUND INC
- NAV per share $18.49; closing price $14.85 (discount 19.69%); YTD NAV -18.98%.
- MSCI Mexico Index dropped 5.7% in August; peso depreciated 5.6% to Ps. 19.73/$.
- Fund repurchased no shares in August; quarterly MDP unchanged at $0.22/share.
- Manager flags risk from proposed constitutional reforms to judicial appointments.
- Banxico cut reference rate 25 bps to 10.75%; Q2 Mexico GDP grew 2.1% YoY.