The closed-end Mexico Equity and Income Fund has, for the fourth time in less than a year, failed to garner enough votes to liquidate the fund. At the most recent shareholder meeting, March 16, three of the fund's directors, who promised to resign if the required two-thirds of shareholders did not approve the fund's liquidation, did in fact resign, according to Advantage Advisers of New York, the fund's U.S. adviser.

The fund continues as a closed-end fund and has one remaining independent director, Phil Goldstein, the closed-end fund shareholder activist and principal of Opportunity Partners of Pleasantville, NY. Goldstein first won election to the fund's board last year.

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