After months of battling a well-known, closed-end shareholder activist to keep the Mexico Equity and Income Fund open and then finally acquiescing to his desires, the fund is facing an ironic twist of fate.

Advantage Advisers, the fund's U.S. adviser and a subsidiary of CIBC World Markets Corp., both of New York, is now imploring investors of the 10-year-old, closed-end fund to vote to liquidate the fund - but can't get a quorum.

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