The Mexico Fund's Shareholders Approve Two Proposals to Restructure Investment Policies
WASHINGTON, Oct 17, 2000 /PRNewswire via COMTEX/
-- The Mexico Fund, Inc. (NYSE: MXF chart, msgs) held a Special Shareholders' Meeting on October 16, 2000 to consider certain changes to the Fund's investment policies. The proposed changes are intended to provide the Fund with greater flexibility to respond to the globalization of the Mexican economy and the changing nature of its securities markets. Shareholders of the Fund overwhelmingly approved a proposal which would convert the Fund to a non-diversified investment company and a proposal to permit the Fund to concentrate its investments in a particular industry or group of industries based on the representation of that industry or group of industries on a relevant Mexican stock index. Although a majority of the shares of the Fund present at the meeting supported a proposal to amend the Fund's fundamental investment policy to permit it to invest in a broader range of Mexican equity securities, the proposal did not receive the approval of 67% of the shareholder votes present at the shareholders' meeting required to approve the proposal and accordingly was not adopted.
The Board of Directors continues to explore additional options, consistent with the Fund's long-term investment objective, with the goal of enhancing shareholder value while preserving the Fund as an attractive means for a managed investment in the Mexican economy.
For further information, contact Carlos H. Woodworth, Treasurer, or Eduardo Solano, Vice President, Investor Relations, at 011-525-282-8900, or by e-mail at cwoodworth@themexicofund.com or esolano@themexicofund.com.
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.
Source: The Mexico Fund, Inc.
Contact:
Eduardo Solano of The Mexico Fund, Investor Relations Vice
President, 011-525-282-8900, esolano@themexicofund.com; or Investor Relations
- Betsy Brod, or Media - Brian Maddox, both of Morgen-Walke Associates,
212-850-5600, both for The Mexico Fund, Inc.
(MXF) |
