MXE - Mexico Equity & Income Fund
A closed-end fund run by Pichardo Asset Management SA de CV. Invests in shares. Listed on the New York Stock Exchange.
Is anyone targeting this fund?
Yes - 2 large investors hold a stake, but none of them has asked for changes.
- City of London owns 27.9% as a passive investor. On file since Feb 9, 2024.
- Matisse owns 5.4% as a passive investor. On file since Nov 12, 2024.
Is the fund doing anything you need to act on?
Nothing right now.
What this means for you
One or more large investors own more than 5% of this fund but have told the regulator they are not seeking changes. That is common for banks, brokers and index funds that hold shares for their clients.
Nothing is required of you. If an investor changes its mind, it must file a new notice within days, and it will show up here.
What happened, and when
-
May 15, 2026
City of London raised its stake to 27.9% (from 26%), as a passive investor.
Original document → -
Jan 8, 2026
City of London raised its stake to 26% (from 20.9%), as a passive investor.
Original document → -
Aug 7, 2025
City of London raised its stake to 20.9% (from 14.2%), as a passive investor.
Original document → -
Feb 7, 2025
City of London raised its stake to 14.2% (from 8.1%), as a passive investor.
Original document → -
Nov 14, 2024
City of London raised its stake to 8.1% (from 6.2%), as a passive investor.
Original document →
Show all 7 events
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Nov 12, 2024
Matisse now owns 5.4%, as a passive investor.
Original document → -
Feb 9, 2024
City of London now owns 6.2%, as a passive investor.
Original document →
About this fund
- Run by Pichardo Asset Management SA de CV. As of July 31, 2025, from the fund's yearly report. Original document →
- Size: about $70.5 million of holdings, as of April 30, 2026. As of April 30, 2026, from the fund's quarterly holdings report. Original document →
- Borrowing: the fund does not borrow. As of April 30, 2026, from the fund's quarterly holdings report. Original document →
- Costs: 0.9% a year in management fees; 2.1% a year in total, including interest on borrowed money. Fiscal year ended July 31, 2025. As of July 31, 2025, from the fund's yearly report. Original document →
- Payouts: last fiscal year the fund told the regulator that all of what it paid out came from income. As of July 31, 2025, from the fund's yearly report. Original document →
- Value of holdings per share at the last fiscal year end (July 31, 2025): $13.21. The shares traded at $10.67, about 19.2% below that. As of July 31, 2025, from the fund's yearly report. Original document →
- How the holdings did: up 0.7% over the last three months we have (Feb-April 2026), before the share price is taken into account. Over the last 12 months: +44%. As of April 30, 2026, from the fund's quarterly holdings report. Original document →
- First reported to the regulator in 1994.
What the fund holds
Mostly shares (95%), the rest preferred shares. About 2% issued in the U.S.
- Grupo Mexico S.A.B. de C.V. - 11.9%
- Grupo Financiero Banorte S.A.B. de C.V. - 11.8%
- Fomento Economico Mexicano Sab de Cv, Fomento Economico Mexicano de C.V. Series UBD - 10.6%
- BBB Foods, Inc. - 6.7%
- Gentera S.A.B. de C.V. - 5.4%
- Arca Continental Sab de Cv, Arca Continental COM NPV - 4.8%
- Esentia Energy Development S.A.B. de C.V. - 4.6%
- Cemex-Cementos Mexicanos Sab de Cv, Cemex S.A.B. de C.V. - 4.3%
- Industrias Penoles S.A.B. de C.V. - 4%
- Corporacion Inmobiliaria Vesta Sab de Cv, Corp Inmobiliaria Vesta S.A.B. de C.V. - 3.9%
Show all 25
- Grupo Aeroportuario Del Sureste Sab/De/Cv, Grupo Aeropotuario del Sureste - 3.6%
- Wal-Mart de Mexico Sab de Cv (Wal-Mart de Mexico SA de Cv) - 3.5%
- GCC S.A.B. de C.V. - 3.3%
- Promotora y Operadora de Infraestructura S.A.B. de C.V. - 2.8%
- America Movil SAB de C.V. - 2.7%
- Banco Del Bajio SA - 2.1%
- Grupo Bimbo S.A.B. de C.V. - 2%
- Nemak S.A.B. de C.V. - 2%
- Controladora Vuela Compania de Aviacion Sab de Cv, Controladora Vuela Cia de Aviacion S.A.B. de C.V. - 1.9%
- La Comer S.A.B. de C.V. - 1.5%
- Grupo Aeroportuario Del Centro Sab de Cv - 1.5%
- (unnamed), HSBC Discovery Mexico - 1.5%
- Gruma S.A.B. de C.V. - 1.4%
- Grupo Aeroportuario Del Pacifico SA de Cv, Grupo Aerportuario Del Pacifico SAB de CV - 0.9%
- Cash and short-term - 0.9%
As of April 30, 2026, from the fund's quarterly holdings report. Original document →
Details: all notices, events and fund facts
| Date | Investor | Stake | Type of notice |
|---|---|---|---|
| May 15, 2026 | City of London | 27.9% | Updated notice |
| Jan 8, 2026 | City of London | 26% | Updated notice |
| Aug 7, 2025 | City of London | 20.9% | Updated notice |
| Feb 7, 2025 | City of London | 14.2% | Updated notice |
| Nov 14, 2024 | City of London | 8.1% | Updated notice |
| Nov 12, 2024 | Matisse | 5.4% | Passive investor |
| Feb 9, 2024 | City of London | 6.2% | Updated notice |
No announcements from the fund on file.
- Run by
- Pichardo Asset Management SA de CV
- Fund family
- Pichardo Asset Management SA de CV
- Exchange
- New York Stock Exchange
- Regulator's file number
- 811-06111
- Auditor
- Tait Weller and Baker LLP
- Fiscal year end
- July 31, 2025
- Number of holdings
- 27
- Preferred share classes
- none
Email me when something new is filed for MXE
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