Printer Friendly

THE EMERGING MEXICO FUND REPORT'S EARNINGS

 THE EMERGING MEXICO FUND REPORT'S EARNINGS
 NEW YORK, Sept. 1 /PRNewswire/ -- The Emerging Mexico Fund, Inc.


(NYSE: MEF), is a closed-end, non-diversified management investment company seeking long-term capital appreciation through investments primarily in equity securities of Mexican companies. Today, the fund announced its performance for the quarter and year ended June 30, 1992.
 During the quarter ended June 30, 1992, the fund had a realized and unrealized net loss of $20,335,696, or $4.06 per share. Net investment income for the period was $867,224, equal to $0,17 per share. For the year ended June 30, 1992, the fund had a realized and unrealized net gain of $26,260,835, or $5.24 per share. Net investment income for the year was $987,867, or $0.19 per share.
 During the quarter ended June 30, 1991, the fund had a realized and unrealized net gain of $16,541,002, or $3.30 per share. Net investment income for the period was $1,188,653 equal to $0.24 per share. There is no comparable period in the fund's prior fiscal year for the 12 month figures since the fund did not commence investment operations until Oct. 11, 1990.
 On June 30, 1992, total net assets of the fund were $99,890,347, and the net asset value per share was $19.94 based on 5,009,000 shares outstanding. For the quarter and the year ended June 30, 1992, the fund's not asset value per share decreased 16.3 percent, and increased 15.7 percent, respectively, from the net asset value per share of $23.83 at March 31, 1992 and $17.23 at June 30, 1991. After adjusting for the dividend of $2.723 per share that was paid on Jan. 10, 1992, to shareholders of record on Dec. 27, 1991, the fund's net asset value per share increased by 31.5 percent for the year ended June 30, 1992.
 Of the fund's $99.9 million in net assets, 93.3 percent was invested in Mexican equity securities and 6.4 percent in Mexican government short-term obligations. Other assets in excess of liabilities accounted for the remaining 0.3 percent of total net assets.
 The fund's equity investments at June 30, 1992, were in the following industries: Communications (20.7 percent of net assets); Retail (18.1 percent); Construction (17.1 percent); Financial Services (15.3 percent); Industrial Conglomerates (10.4 percent); Food, Beverages, Tobacco (9.1 percent); Paper (2.5 percent); and Hotel & Tourism (0.1 percent).
 As of June 30, 1992, the fund's ten largest Mexican equity holdings representing 72.3 percent of net assets, were in:
 Telefonos de Mexico, S.A. de C.V.
 Cifra, S.A. de C.V.
 Grupo Financiero Banamex S.N.C
 Grupo Carso, S.A. de C.V.
 Cementos Mexicanos, S.A. de C.V.
 Empresa Tolteca de Mexico, S.A. de C.V.
 Grupo Financiero Bancomer S.N.C.
 Grupo Industrial Bimbo, S.A. de C.V.
 Fomento Economico Mexicano, S.A. de C.V.
 Controladora Comercial Mexicana, S.A. de C.V.
 The fund's investment adviser is Santander Management Inc., a wholly owned subsidiary of Banco Santander, S.A. To receive a copy of the fund's prospectus and/or annual report, please call 800-852-4750.
 -0- 9/1/92
 /CONTACT: Bruce D. Katz, treasurer of the Emerging Mexico Fund, 212-713-2928, or Marissa Moretti of Dewe Rogerson, 212-688-6840, for the Emerging Mexico Fund/
 (MEF) CO: Emerging Mexico Fund, Inc. ST: New York IN: FIN SU: ERN


AH-PS -- NY077 -- 5653 09/01/92 17:53 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 1, 1992
Words:597
Previous Article:CHESAPEAKE CONSORTIUM SELECTED TO RECEIVE ELECTRIC VEHICLE GRANT FROM DOT
Next Article:GERIATRIC & MEDICAL CENTERS DENIES ALLEGATIONS
Topics:


Related Articles
THE EMERGING MEXICO FUND REPORTS EARNINGS
EMERGING MEXICO FUND REPORTS EARNINGS
THE EMERGING MEXICO FUND, INC. REPORTS EARNINGS
THE EMERGING MEXICO FUND, INC. REPORTS EARNINGS
THE EMERGING MEXICO FUND, INC. REPORTS EARNINGS
THE EMERGING MEXICO FUND, INC. REPORTS EARNINGS
THE EMERGING MEXICO FUND, INC. REPORTS EARNINGS
THE EMERGING MEXICO FUND, INC. REPORTS EARNINGS
THE EMERGING MEXICO FUND, INC. REPORTS EARNINGS
THE EMERGING MEXICO FUND, INC. REPORTS EARNINGS

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters