<SEC-DOCUMENT>0001144204-12-057015.txt : 20121019
<SEC-HEADER>0001144204-12-057015.hdr.sgml : 20121019
<ACCEPTANCE-DATETIME>20121019162104
ACCESSION NUMBER:		0001144204-12-057015
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20120315
FILED AS OF DATE:		20121019
DATE AS OF CHANGE:		20121019

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Dakos Andrew
		CENTRAL INDEX KEY:			0001341021

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-06111
		FILM NUMBER:		121152611

	MAIL ADDRESS:	
		STREET 1:		C/O IMPERIAL HOLDINGS, INC.
		STREET 2:		701 PARK OF COMMERCE BLVD., SUITE 301
		CITY:			BOCA RATON
		STATE:			FL
		ZIP:			33487

ISSUER:		

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

	BUSINESS ADDRESS:	
		STREET 1:		U.S. BANCORP FUND SERVICES, LLC
		STREET 2:		615 EAST MICHIGAN STREET, LC-2
		CITY:			MILWAUKEE
		STATE:			WI
		ZIP:			53202
		BUSINESS PHONE:		4147654499

	MAIL ADDRESS:	
		STREET 1:		U.S. BANCORP FUND SERVICES, LLC
		STREET 2:		615 EAST MICHIGAN STREET, LC-2
		CITY:			MILWAUKEE
		STATE:			WI
		ZIP:			53202

	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>v326246_4.xml
<DESCRIPTION>OWNERSHIP DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2012-03-15</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000863900</issuerCik>
        <issuerName>MEXICO EQUITY &amp; INCOME FUND INC</issuerName>
        <issuerTradingSymbol>MXE</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001341021</rptOwnerCik>
            <rptOwnerName>Dakos Andrew</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O MEXICO EQUITY AND INCOME FUND, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>615 EAST MICHIGAN STREET, 4TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>MILWAUKEE</rptOwnerCity>
            <rptOwnerState>WI</rptOwnerState>
            <rptOwnerZipCode>53202</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2012-03-15</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>13888</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>13888</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>43145</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>35042</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>8021</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F4"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>10323</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F5"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The reported securities are held by Calapasas West Partners, LP (&quot;Calapasas West&quot;).  Calapasas Investment Partnership, LP was dissolved on March 15, 2012 and the reported securities were transferred to Calapasas West.  The Reporting Person is a managing member of Bulldog Holdings, LLC, the sole member of Full Value Advisors, LLC, which is the general partner of Calapasas West.  The Reporting Person is also a managing member of Brooklyn Capital Management, LLC, the investment adviser to Calapasas West (&quot;BCM&quot;).  BCM has sole voting and dispositive power over the reported securities.  The Reporting Person disclaims beneficial ownership of the reported securities.</footnote>
        <footnote id="F2">The reported securities are held by Opportunity Partners, LP (&quot;Opportunity Partners&quot;).  The Reporting Person is a limited partner of Opportunity Partners.  The Reporting Person is also a managing member of Bulldog Holdings, LLC, the sole member of Kimball &amp; Winthrop, LLC, which is the general partner of Opportunity Partners.  In addition, the Reporting Person is a managing member of Brooklyn Capital Management, LLC, the investment adviser to Opportunity Partners (&quot;BCM&quot;).  BCM has sole voting and dispositive power over the reported securities.  The Reporting Person disclaims beneficial ownership of the reported securities.</footnote>
        <footnote id="F3">The reported securities are held by Full Value Partners, LP (&quot;Full Value&quot;).  The Reporting Person is a limited partner of Full Value.  The Reporting Person is also a managing member of Bulldog Holdings, LLC, the sole member of Full Value Advisors, LLC, which is the general partner of Full Value.  In addition, the Reporting Person is a managing member of Brooklyn Capital Management, LLC, the investment adviser to Full Value (&quot;BCM&quot;).  BCM has sole voting and dispositive power over the reported securities.  The Reporting Person disclaims beneficial ownership of the reported securities.</footnote>
        <footnote id="F4">The reported securities are held by Opportunity Income Plus, LP (&quot;Opportunity Income&quot;).  The Reporting Person is a limited partner of Opportunity Income.  The Reporting Person is also a managing member of Bulldog Holdings, LLC, the sole member of SPAR Advisors LLC, which is the general partner of Opportunity Income.  In addition, the Reporting Person is a managing member of Brooklyn Capital Management, LLC, the investment adviser to Opportunity Income (&quot;BCM&quot;).  BCM has sole voting and dispositive power over the reported securities.  The Reporting Person disclaims beneficial ownership of the reported securities.</footnote>
        <footnote id="F5">The reported securities are held by Steady Gain Partners, LP (&quot;Steady Gain&quot;).  The Reporting Person is a managing member of Brooklyn Capital Management, LLC, the investment adviser to Steady Gain (&quot;BCM&quot;).  BCM has sole voting and dispositive power over the reported securities.  The Reporting Person disclaims beneficial ownership of the reported securities.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Andrew Dakos</signatureName>
        <signatureDate>2012-10-19</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
