Proximity to US is positive for Mexico

By Mark Artherton, a fund manager at F&C Mexico is a long way from the ideal of a free market and disappointment in the reform agenda has impacted upon its financial performance in the past 12 months. The country is positively impacted by its geographic position, however, with the largest single consumer market in the world on its doorstep. The reform programme that sustained Mexican equity performance in 2001 is highly unlikely to be repeated going forward. In 2001, Mexico benefited from sharply falling interest rates and gaining investment grade status from the major rating a...