-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001029869-97-000205.txt : 19970222
<SEC-HEADER>0001029869-97-000205.hdr.sgml : 19970222
ACCESSION NUMBER:		0001029869-97-000205
CONFORMED SUBMISSION TYPE:	SC 13G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		19970214
SROS:			NONE

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MEXICO EQUITY & INCOME FUND INC
		CENTRAL INDEX KEY:			0000863900
		STANDARD INDUSTRIAL CLASSIFICATION:	 []
		IRS NUMBER:				133576061
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0731

	FILING VALUES:
		FORM TYPE:		SC 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-41350
		FILM NUMBER:		97534476

	BUSINESS ADDRESS:	
		STREET 1:		WORLD FINANCIAL CTR
		STREET 2:		200 LIBERTY ST
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10281
		BUSINESS PHONE:		2126675000

	MAIL ADDRESS:	
		STREET 1:		OPPENHEIMER TOWER
		STREET 2:		200 LIBERTY STREET, 38TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10281

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MEXICO CONVERTIBLE ADVANTAGE FUND INC
		DATE OF NAME CHANGE:	19900807

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MEXICO ADVANTAGE FUND INC
		DATE OF NAME CHANGE:	19900805

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PRESIDENT & FELLOWS OF HARVARD COLLEGE
		CENTRAL INDEX KEY:			0000315016
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				042103580
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G

	BUSINESS ADDRESS:	
		STREET 1:		C/O HARVARD MANAGEMENT COMPANY INC
		STREET 2:		600 ATLANTIC AVENUE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02210
		BUSINESS PHONE:		6175234400
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G
<SEQUENCE>1
<TEXT>

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                  SCHEDULE 13G
                                 (Rule 13d-102)

             Information Statement Pursuant to Rules 13d-1 and 13d-2
                    Under the Securities Exchange Act of 1934
                            (Amendment No. _______)*

                        Mexico Equity & Income Fund, Inc.
         ---------------------------------------------------------------
                                (Name of Issuer)


                                  Common Stock
        ----------------------------------------------------------------
                         (Title of Class of Securities)


                                    592834105
                          -----------------------------
                                 (CUSIP Number)


*The remainder of this cover page shall be filled out for a reporting person's
initial f ling on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).



                                Page 1 of 7 Pages

<PAGE>
- -------------------------                           ---------------------------
|CUSIP NO. 592834105    |           13G            |   Page  2  of   7  Pages |
|          -----------  |                          |        ---     ---       |
- -------------------------                           ---------------------------

|--------|---------------------------------------------------------------------|
|  1     |  NAME OF REPORTING PERSON                                           |
|        |  S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON                  |
|        |                                                                     |
|        |  President and Fellows of Harvard College                           |
|--------|---------------------------------------------------------------------|
|  2     |  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*         (a) [X]  |
|        |                                                            (b) [ ]  |
|        |                                                                     |
|--------|---------------------------------------------------------------------|
|  3     |  SEC USE ONLY                                                       |
|        |                                                                     |
|--------|---------------------------------------------------------------------|
|  4     |  CITIZENSHIP OR PLACE OF ORGANIZATION                               |
|        |                                                                     |
|        |  Massachusetts                                                      |
|--------|-----------------|--------|------------------------------------------|
|                          |   5    | SOLE VOTING POWER                        |
|                          |        | 745,390 shares                           |
|        NUMBER OF         |--------| -----------------------------------------|
|         SHARES           |   6    | SHARED VOTING POWER                      |
|      BENEFICIALLY        |        | --                                       |
|        OWNED BY          ----------------------------------------------------|
|          EACH            |   7    | SOLE DISPOSITIVE POWER                   |
|       REPORTING          |        | 745,3990 shares                          |
|         PERSON           ----------------------------------------------------|
|          WITH            |   8    | SHARED DISPOSITIVE POWER                 |
|                          |        | --                                       |
|--------|---------------------------------------------------------------------|
|  9     | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON        |
|        |                                                                     |
|        | 745,390 shares                                                      |
|--------|- -------------------------------------------------------------------|
|  10    | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN  [ ]  |
|        | SHARES*                                                             |
|        |                                                                     |
|--------|- -------------------------------------------------------------------|
|  11    | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)                   |
|        | 6.3%                                                                |
|--------|- -------------------------------------------------------------------|
|  12    | TYPE OF REPORTING PERSON *                                          |
|        | EP                                                                  |
- --------------------------------------------------------------------------------
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!                    


                                Page 2 of 7 Pages

<PAGE>
- -------------------------                           ---------------------------
|CUSIP NO. 592834105    |           13G            |   Page  3  of   7  Pages |
|          -----------  |                          |        ---     ---       |
- -------------------------                           ---------------------------

|--------|---------------------------------------------------------------------|
|  1     |  NAME OF REPORTING PERSON                                           |
|        |  S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON                  |
|        |                                                                     |
|        |  The Harvard University Master Trust Fund                           |
|--------|---------------------------------------------------------------------|
|  2     |  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*         (a) [X]  |
|        |                                                            (b) [ ]  |
|        |                                                                     |
|--------|---------------------------------------------------------------------|
|  3     |  SEC USE ONLY                                                       |
|        |                                                                     |
|--------|---------------------------------------------------------------------|
|  4     |  CITIZENSHIP OR PLACE OF ORGANIZATION                               |
|        |                                                                     |
|        |  Massachusetts                                                      |
|--------|-----------------|--------|------------------------------------------|
|                          |   5    | SOLE VOTING POWER                        |
|                          |        | 5,000 shares                             |
|        NUMBER OF         |--------| -----------------------------------------|
|         SHARES           |   6    | SHARED VOTING POWER                      |
|      BENEFICIALLY        |        | --                                       |
|        OWNED BY          ----------------------------------------------------|
|          EACH            |   7    | SOLE DISPOSITIVE POWER                   |
|       REPORTING          |        | 5,000 shares                             |
|         PERSON           ----------------------------------------------------|
|          WITH            |   8    | SHARED DISPOSITIVE POWER                 |
|                          |        | --                                       |
|--------|---------------------------------------------------------------------|
|  9     | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON        |
|        |                                                                     |
|        | 5,000 shares                                                        |
|--------|- -------------------------------------------------------------------|
|  10    | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN  [ ]  |
|        | SHARES*                                                             |
|        |                                                                     |
|--------|- -------------------------------------------------------------------|
|  11    | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)                   |
|        | 0.1%                                                                |
|--------|- -------------------------------------------------------------------|
|  12    | TYPE OF REPORTING PERSON *                                          |
|        | EP                                                                  |
- --------------------------------------------------------------------------------
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!                    



                                Page 3 of 7 Pages

<PAGE>



                                  SCHEDULE 13G
                                  ------------


Item 1(a) Name of Issuer:
               Mexico Equity & Income Fund, Inc.

     1(b) Address of Issuer's Principal Executive Offices:
               Mexico Equity & Income Fund, Inc.
               World Financial Center
               200 Liberty Street
               New York, New York 10281

Item 2(a) Name of Person Filing:
          (i)  President and Fellows of Harvard College ("P&F")
          (ii) The Harvard University Master Trust Fund ("HUMT")

     2(b) Address of Principal Business Office or, if none, Residence:
          (i)  P&F: c/o Harvard Management Company, Inc.
                    600 Atlantic Avenue
                    Boston, MA 02210

          (ii) HUMT: 1350 Massachusetts Avenue
                    Holyoke Center, Room 340
                    Cambridge, MA 02210

     2(c) Citizenship:
          (i)  P&F: Massachusetts
          (ii) HUMT: Massachusetts

     2(d) Title of Class of Securities:
               Common Stock

     2(e) CUSIP Number:
               592834105

Item 3    If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b):
               The entities filing are a Group in accordance with Rule
               13d-1(b)(l)(ii)(H).

Item 4    Ownership:

     4(a) Amount beneficially owned:
          (i)  P&F: 745,390 shares
          (ii) HUMT: 5,000 shares


                                Page 4 of 7 Pages

<PAGE>



     4(b) Percent of Class:
          (i)  P&F: 6.3%
          (ii) HUMT: 0.1%

     4(c) Number of shares as to which such person has:

          (i)  sole power to vote or to direct the vote:
               (i)  P&F: 745,390 shares
               (ii) HUMT: 5,000 shares

          (ii) shared power to vote or to direct the vote:
               ---------

          (iii) sole power to dispose or to direct the disposition of:
               (i)  P&F: 745,390 shares
               (ii) HUMT: 5,000 shares


          (iv) shared power to dispose or to direct the disposition of:
               --------

Item 5    Ownership of Five Percent or Less of a Class:
               Not Applicable.

Item 6    Ownership of More than Five Percent on Behalf of Another Person:
               Not Applicable.

Item 7    Identification and Classification of the Subsidiary which Acquired the
          Security Being Reported on by the Parent Holding Company:
               Not Applicable.

Item 8    Identification and Classification of Members of the Group:
               See Exhibit A.

Item 9    Notice of Dissolution of Group:
               Not Applicable.

Item 10   Certification:

          By signing below the undersigned certifies that, to the best of its
          knowledge and belief, the securities referred to above were acquired
          in the ordinary course of business and were not acquired for the
          purpose of and do not have the effect of changing or influencing the
          control of the issuer of such securities and were not acquired in
          connection with or as a participant in any transaction having such
          purpose or effect.




                                Page 5 of 7 Pages

<PAGE>



          After reasonable inquiry and to the best of its knowledge and belief,
          the undersigned certifies that the information set forth in this
          statement is true, complete and correct.

                                  PRESIDENT AND FELLOWS OF HARVARD COLLEGE


                                  By: /s/ Verne O. Sedlacek
                                     -------------------------------------
                                     Name:  Verne O. Sedlacek
                                     Title:    Authorized Signatory


                                  THE HARVARD UNIVERSITY MASTER TRUST FUND


                                  By: /s/ Verne O. Sedlacek
                                     -------------------------------------
                                     Name:  Verne O. Sedlacek
                                     Title:    Authorized Signatory



February 12, 1997

                                Page 6 of 7 Pages

<PAGE>


                                    Exhibit A
                                    ---------


       Member of Group                                  Item 3 Classification
       ---------------                                  ---------------------

(1)    President and Fellows of Harvard College                 EP

(2)    The Harvard University Master Trust Fund                 EP


                                Page 7 of 7 Pages

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
