Maria Eugenia Pichardo
About Maria Eugenia Pichardo
Maria Eugenia Pichardo serves as President of The Mexico Equity and Income Fund, Inc. (MXE) and is the Fund’s Portfolio Manager since inception. She is also an Interested Director due to her affiliation with the Fund’s investment adviser, Pichardo Asset Management, S.A. de C.V. Her birth year is 1950. As a Class II Director nominee, her board term runs to the 2027 annual meeting, and she currently serves on the Board. The proxy materials do not disclose TSR or financial performance metrics tied to her role.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Acciones y Valores de Mexico, S.A. de C.V. | Managing Director | 1979–2002 | Not disclosed |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Pichardo Asset Management, S.A. de C.V. | President & General Partner | 2003–present | Adviser to MXE; affiliation makes her an Interested Director |
Fixed Compensation
| Item | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Fund-paid director/officer compensation to Maria E. Pichardo ($) | Not applicable (not on Board; all directors were independent) | Not applicable (not on Board; all directors were independent) | None (Interested Director) |
| Fund director cash retainer (Independent Directors) ($) | 30,000 | 30,000 | 30,000 |
| Chairman fee ($) | 3,750 | 3,750 | 3,750 |
| Audit & Valuation Committee Chair fee ($) | 2,250 | 2,250 | 2,250 |
| Nominating Committee Chair fee ($) | 1,500 | 1,500 | 1,500 |
| Special telephonic meeting fee ($ per meeting) | 500 | 500 | 500 |
Notes:
- The Fund does not have a bonus, profit-sharing, pension, or retirement plan for Directors.
- Pichardo’s compensation, if any, from the Adviser is not disclosed in the Fund’s proxy statement.
Performance Compensation
- No performance-based compensation, vesting schedules, options or RSU/PSU awards for Maria Pichardo are disclosed in the Fund’s proxy materials.
Equity Ownership & Alignment
| Metric | 2023 (as of Oct 18, 2023) | 2024 (as of Oct 28, 2024) | 2025 (as of Oct 20, 2025) |
|---|---|---|---|
| Dollar range of MXE equity owned by Maria E. Pichardo | None | None | None |
| Directors & officers group ownership (as % of shares outstanding) | <1% (group) | <1% (group) | <1% (group) |
| Shares outstanding (MXE common) | 4,400,209 | 4,400,209 | 4,400,209 |
| Shares pledged as collateral | Not disclosed | ||
| Ownership guidelines and compliance | Not disclosed |
Employment Terms
| Attribute | Detail |
|---|---|
| Fund Officer Role | President (since 2004); Portfolio Manager since Fund inception |
| Board Role & Class | Interested Director; Class II nominee |
| Board Term | Through 2027 annual meeting if elected |
| Independence Status | Interested Director due to Adviser affiliation |
| Committee Memberships | Not listed on Audit, Nominating, or Valuation (committees comprised of Independent Directors) |
| Board Meeting Attendance | Each Director and nominee attended ≥75% of Board and committee meetings in FY ended Jul 31, 2025 |
Board Governance (Service history, committees, independence)
- Board leadership: Independent Chairman (Phillip Goldstein); Board consists of five individuals including one Interested Director (Pichardo).
- Committees: Audit, Nominating, and Valuation are composed entirely of Independent Directors; Pichardo does not sit on these committees.
- Attendance: Each Director and nominee achieved at least 75% attendance in FY ended Jul 31, 2025.
- Dual-role implications: Pichardo is both President (officer) and Interested Director, with the Independent Chair and independent-only committees providing structural mitigants to independence concerns.
Director Compensation (context for governance)
| Director | Aggregate Compensation from Fund (FY 2025) |
|---|---|
| Phillip Goldstein | 33,750 |
| Rajeev Das | 34,500 |
| Glenn Goodstein | 31,500 |
| Gerald Hellerman | 30,000 |
| Maria Eugenia Pichardo | None |
Other Disclosures Relevant to Trading Signals
- Section 16 filings: No late filings reported for the fiscal year ended Jul 31, 2025.
- 5% holders: City of London (20.86%), CSS LLC (8.97%), Matisse Capital (5.40%) as of Oct 20, 2025. Concentrated holders can influence trading dynamics in closed-end funds.
- Code of Ethics: Both the Fund and Adviser maintain Rule 17j-1/204A codes governing personal securities transactions.
Investment Implications
- Alignment: Pichardo had no disclosed MXE share ownership in 2023–2025 and received no Fund-paid director compensation, limiting direct pay-for-performance or ownership alignment signals; compensation may occur at the Adviser level but is not disclosed in the Fund’s proxy.
- Governance mitigants: Independent Chairman and independent-only committees reduce dual-role independence risk from her officer/director status; she is not on key committees.
- Retention risk: Her tenure as President since 2004 and role as Portfolio Manager since inception suggest continuity; employment contracts, severance, non-compete, and change-of-control terms are not disclosed, so retention economics cannot be assessed from the proxy.
- Trading signals: Insider ownership is de minimis (<1% group) and no insider compensation from the Fund is disclosed; 5% holders are significant and may drive discount/premium dynamics typical of closed-end funds.