N-Q

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

 

FORM N-Q

 

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

INVESTMENT COMPANY

Investment Company Act file number 811-03170

 

 

THE MEXICO FUND, INC.

(Exact name of Registrant as specified in charter)

 

 

1775 I Street, NW, Suite 1100

Washington, DC 20006

(Address of principal executive offices) (Zip code)

Sander M. Bieber

Dechert LLP

1775 I Street, NW, Suite 1100

Washington, DC 20006

(Name and Address of Agent for Service)

Registrant’s telephone number, including area code: (202) 261-7941

Date of fiscal year end: October 31

Date of reporting period: July 31, 2009

 

 

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

 

 

 

Item 1. Schedule of Investments.

 

LOGO  

The Mexico Fund, Inc.

Schedule of Investments as of July 31, 2009 (Unaudited)

 

Shares
Held		         Value
(Note 1)		    Percent
of Net
Assets		  
  

COMMON STOCK - 90.57%

      
  

Airports

      
2,530,748   

Grupo Aeroportuario del Centro Norte, S.A.B de C.V. Series B

    $ 3,424,415    0.93 % 
1,000,000   

Grupo Aeroportuario del Sureste, S.A.B. de C.V. Series B

      4,477,816    1.22   
                
        7,902,231    2.15   
                
  

Beverages

      
2,800,000   

Fomento Económico Mexicano, S.A.B. de C.V. Series UBD

      10,827,111    2.95   
2,896,000   

Grupo Modelo, S.A.B. de C.V. Series C (a)

      11,387,124    3.11   
                
        22,214,235    6.06   
                
  

Building Materials

      
2,968,300   

Grupo Cementos de Chihuahua, S.A.B. de C.V. Series *

      8,089,206    2.21   
1,384,400   

Grupo Lamosa, S.A.B. de C.V. Series * (a)

      844,805    0.23   
                
        8,934,011    2.44   
                
  

Chemical Products

      
8,058,972   

Mexichem, S.A.B. de C.V. Series *

      10,727,620    2.93   
            
  

Commercial Banks

      
1,775,600   

Banco Compartamos, S.A., Institución de Banca Múltiple Series O

      5,882,011    1.60   
            
  

Construction and Infrastructure

      
6,949,533   

Empresas ICA, S.A.B. de C.V. Series * (a)

      12,775,167    3.48   
            
  

Consumer Products

      
3,181,280   

Kimberly-Clark de México, S.A.B. de C.V. Series A

      13,256,439    3.62   
            
  

Financial Groups

      
4,598,000   

Grupo Financiero Banorte, S.A.B. de C.V. Series O

      11,352,355    3.10   
            
  

Food

      
2,715,000   

Grupo Bimbo, S.A.B. de C.V. Series A

      15,205,334    4.15   
            
  

Holding Companies

      
3,163,100   

Alfa, S.A.B. de C.V. Series A

      11,938,624    3.26   
            
  

Housing

      
3,364,900   

Corporación Geo, S.A.B. de C.V. Series B (a)

      7,165,114    1.95   
2,544,700   

Urbi Desarrollos Urbanos, S.A.B. de C.V. Series * (a)

      4,411,659    1.20   
                
        11,576,773    3.15   
                
  

Media

      
4,752,400   

Grupo Televisa, S.A.B. Series CPO

      17,123,007    4.67   
2,734,500   

Megacable Holdings S.A.B. de C.V. Series CPO (a)

      3,948,864    1.08   
                
        21,071,871    5.75   
                
  

Mining

      
16,146,600   

Grupo México, S.A.B. de C.V. Series B

      22,876,502    6.24   
            
  

Retail

      
7,163,108   

Grupo Famsa, S.A.B. de C.V. Series A (a)

      9,502,520    2.59   
16,024,093   

Wal-Mart de México, S.A.B. de C.V. Series V

      54,601,225    14.89   
                
        64,103,745    17.48   
                

Shares
Held		         Value
(Note 1)		    Percent
of Net
Assets		  
  

Steel

      
1,646,500   

Industrias CH, S.A.B. de C.V. Series B (a)

      5,802,572    1.58   
            
  

Stock Exchange

      
7,158,533   

Bolsa Mexicana de Valores, S.A.B. de C.V. Series A (a)

      7,168,463    1.96   
            
  

Telecommunications Services

      
33,103,366   

América Móvil, S.A.B. de C.V. Series L

      71,041,359    19.38   
5,073,500   

Axtel, S.A.B. de C.V. Series CPO (a)

      2,749,875    0.75   
238,000   

NII Holdings, Inc. Series * (a)

      5,478,707    1.49   
                
        79,269,941    21.62   
                
  

Total Common Stock (Identified cost - $324,223,051)

    $ 332,057,894    90.57 % 
Securities    SHORT-TERM SECURITIES - 8.80%            
Principal
Amount		                 
  

Repurchase Agreements

      
31,510,794   

BBVA Bancomer, S.A., 4.20%, dated 07/31/09, due 08/03/09 repurchase price $31,521,823, collateralized by Bonos del Gobierno Federal. Value of collateral $31,806,822.

    $ 31,510,794    8.59 % 
                
  

Time Deposits

      
  

Comerica Bank., 0.11%, dated 07/31/09, due 08/03/09

      770,429    0.21   
                
        32,281,223    8.80   
                
  

Total Short-Term Securities (Identified cost - $32,281,223)

      32,281,223    8.80   
                
  

Total Investments (Identified cost $356,504,274)

      364,339,117    99.37   
  

Other Assets in Excess of Liabilities

      2,313,421    0.63   
                
  

Net Assets Equivalent to $21.33 per share on 17,191,278 shares of capital stock outstanding

    $ 366,652,538    100.00 % 
                

 

(a) Shares of these securities are currently non-income producing. Equity investments that have not paid dividends within the last twelve months are considered to be non-income producing.

 

Item 2. Controls and Procedures.

(a) Based on an evaluation of Registrant’s Disclosure Controls and Procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) (the “Disclosure Controls”), as of a date within 90 days prior to the filing date (the “Filing Date”) of this Form N-Q (the “Report”), the Registrant’s Principal Executive Officer and Principal Financial Officer have concluded that the Disclosure Controls are effectively designed to ensure that information required to be disclosed by the Registrant in the Report is recorded, processed, summarized and reported by the Filing Date, including ensuring that information required to be disclosed in the Report is accumulated and communicated to the Registrant’s management, including the Registrant’s Principal Executive Officer and Principal Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.

(b) There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the Registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3. Exhibits.

Filed as exhibits herewith are separate certifications for Registrant’s Principal Executive Officer and Principal Financial Officer of the registrant as required by Rule 30a-2(a) under Investment Company Act of 1940.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

By:   /S/    JOSÉ LUIS GÓMEZ PIMIENTA      
  José Luis Gómez Pimienta
  President and Principal Executive Officer
  September 30, 2009

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:   /S/    JOSÉ LUIS GÓMEZ PIMIENTA      
  José Luis Gómez Pimienta
  President and Principal Executive Officer
  September 30, 2009
By:   /S/    ALBERTO OSORIO      
  Alberto Osorio
  Senior Vice President, Treasurer and Principal Financial Officer
  September 30, 2009