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OMB
APPROVAL
OMB
Number: 3235-0145
Expires:
December 31, 2005
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
SCHEDULE
13G/A*
(*Amendment
No. 2)
Under
the Securities Exchange Act of 1934
MEXICO
EQUITY & INCOME FUND
Common
Shares
CUSIP
Number 592834 10 5
Richard
J. Shaker
D.B.A.
Shaker Financial Services
1094
Magothy Circle
Annapolis,
Maryland 21401
December
30, 2005
(Date
of
Event Which Requires Filing of this Statement)
Check
the
appropriate box to designate the rule pursuant to which this Schedule is
filed:
{ x } Rule
13d-1(b)
{ } Rule
13d-1(c)
{ } Rule
13d-1(d)
CUSIP
No.: 46062H
10
0
1.
Names
of
Reporting Persons.
I.R.S.
Identification Nos. of above persons (entities only).
Richard
J. Shaker, DBA Shaker Financial Services
IRS
TIN
51-0434319
2.
Check
the
Appropriate Box if a Member of a Group (See Instructions)
(a)
(Not
Applicable)
(b)
(Not
Applicable)
3.
SEC Use Only
4.
Citizenship
or Place of Organization
Richard
J. Shaker is a U.S. citizen.
|
Number
of shares Beneficially by Owned by Each Reporting Person
with:
|
5.
Sole
Voting
Power:
7,100
6.
Shared
Voting
Power:
0
7.
Sole
Dispositive
Power: 7,100
8.Shared
Dispositive
Power:
0
|
9.
Aggregate
Amount Beneficially Owned by Each Reporting Person.
Accounts
managed by Richard J. Shaker, doing business as Shaker Financial Services,
own
7,100 shares, 0.3% of the outstanding shares of the company. No additional
shares are beneficially owned by Mr. Shaker, his relatives, or, to his
knowledge, by any of his clients.
10.
Check
if
the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
11.
Percent
of Class Represented by Amount in Row (9): (Not Applicable)
12.
Type
of
Reporting Person (See Instructions)
Richard
J. Shaker D.B.A. Shaker Financial Services is an investment adviser
(IA)
Item
1.
(a)
Name
of
Issuer:
MEXICO
EQUITY & INCOME FUND
(b)
Address
of Issuer’s Principal Executive Office:
622
Third
Avenue
New
York,
NY 10017
Item
2.
(a)
Name
of
Person Filing:
Richard
J. Shaker, DBA Shaker Financial Services
(b)
Address
of Person
Filing
1094
Magothy Circle
Annapolis, MD 21401
Item
3. If
this state is filed pursuant to §§240.13d-1(b) or 24013d-2(b) or (c), check
whether the person filing is a:
(e) [x] person
registered as an investment advisor under Section 203 of the Investment Advisers
Act of 1940 or under the laws of any state
Item
4. Ownership.
(a) Amount
Beneficially Owned: Accounts managed by Richard J. Shaker, doing business as
Shaker Financial Services, owns 7,100 shares.
(b) Percent
of Class: 0.3%
(c) Number
of
Shares to which such person has
(i)
sole
power to vote or to direct the
vote:
7,100
(ii)
shared
power to vote or to direct the
vote:
0
(iii)
sole
power to dispose or to direct the disposition
of: 7,100
(iv)
shared
power to dispose or to direct the disposition of:
0
Item
5. Ownership
of Five Percent or Less of a Class. This
statement is being filed to report the fact that as of the date hereof the
reporting person has ceased to be the beneficial owner of more than five percent
of this class of securities.
Item
6. Owners
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. (Not
Applicable)
Item
9. Notice
of Dissolution of Group. (Not
Applicable)
Item
10. Certification.
By
signing below I certify that, to the best of my 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 transactions having
such
purpose or effect.
Signature
After
reasonable inquiry and to the best of my knowledge and belief, I certify that
the information set forth in this statement is true, complete and
correct.
Date:
January 3,
2006
By:
/s/ Richard J.
Shaker
Richard J. Shaker, Investment Manager