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Pichardo Asset Management

Consistency

As portfolio manager of the Mexico Equity and Income Fund (MXE), PAM has a 27-year track record in Mexican securities and has granted shareholders an annual average 12% dollar return (with dividends reinvested) since 1990, through April 2017. (Source: Thomson).

MXE Returns

MXE’s Net Asset Value per Share Dollar Return with Reinvested Dividends. As of April 30, 2017.

RETURNS

Source: U.S. Bancorp1; Thomson 2; PAM3, Bloomberg.
*The NAV accretion that resulted from share repurchases, for the 1, 3, and 5-year period ended April 30, 2017, was 0.04, 0.04, and 0.16 respectively. For the purpose of performance calculation, U.S. Bancorp assumes that MXE´s dividends and distributions are reinvested at the closing market price on the dividend ex-date and takes into account the dilution effect resulting from fund´s stock dividend. This calculation of MXE´s peformance figures may differ from other financial sources, such as Bloomberg.
MXE’s ratio of expenses to average net assets=1.89% for the annual period ended July 31, 2016.
MXF’s ratio of expenses to average net assets=1.74% for the year ended October 31, 2016.
Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted.