Dissolution Date March 12, 2013
CALGARY, Feb. 25, 2013 /CNW/ - Middlefield Mutual Funds Limited
announced today that, in connection with the planned dissolution of MRF
2011 Resource Limited Partnership ("MRF 2011" or the "Partnership",
CUSIP: 55347L109) on March 12, 2013, it is proposing to transfer all of
the assets of MRF 2011 to the Income Plus Class (MID 800) of
Middlefield Mutual Funds Limited in exchange for mutual fund shares
having the same aggregate net asset value as that of the Partnership.
Appropriate elections under applicable income tax legislation will be
made to effect the transfer on a tax-deferred basis.
Upon dissolution, investors will be able to redeem their Income Plus
Class (MID 800) shares, retain them for longer-term growth or switch
tax-free into any of the other Middlefield Mutual Fund classes.
Remaining invested in the mutual fund avoids incurring the capital
gains tax liability that arises upon redemption of the mutual fund
The objective of Income Plus is to provide a stable level of income
while emphasizing capital preservation. The Fund invests in a
diversified portfolio of fixed-income and dividend paying equity
securities. As at January 31, 2013, Income Plus (MID 800) generated annualized total
returns for the one, three, five and ten year periods of 3.4%, 7.3%,
7.8% and 9.5%, respectively as well as an annualized total return of
9.8% since inception in September 2000. In addition, Income Plus
received the 2012 Lipper Fund Award for the #1 balanced mutual fund
over the three and ten year periods.
The dissolution will provide investors in the Partnership with liquidity
and the ability to diversify their holdings by participating in a
large, multi-class mutual fund family. There are nine available asset
classes providing significant flexibility to suit numerous investment
objectives including income, growth and safety of capital. In addition
to Income Plus, the other classes currently offered are Groppe Tactical
Energy, ActiveIndex REIT, Precious Metals, Canadian High Yield,
Canadian Dividend Growth, Global Agriculture, Uranium Focused Metals
and Short-Term Income. Investors should consult their advisors to
determine the strategy that is most suitable for them for the
achievement of their own personal needs and objectives.
In addition, Middlefield Group is pleased to announce that it has filed
a prospectus relating to the initial public offering of MRF 2013
Resource Limited Partnership units. The offering is being made in each
of the provinces and territories of Canada and is expected to close in
The indicated returns are annualized compound total returns based on net
asset value for the periods ended January 31, 2013 and are unaudited.
Commissions, trailing commissions, management fees and expenses all may
be associated with mutual fund investments. Please read the prospectus
before investing. Mutual funds are not guaranteed, their values change
frequently and past performance may not be repeated.
Certain statements included in this press release constitute
forward-looking statements. The forward-looking statements are not
historical facts but reflect Middlefield's current expectations
regarding future results or events. These forward-looking statements
are subject to a number of risks and uncertainties that could cause
actual results or events to differ materially from current
expectations. Forward-looking statements are not guarantees of future
performance and, accordingly, readers are cautioned not to place undue
reliance on such statements due to the inherent uncertainty therein.
SOURCE: MRF 2011 Resource Limited Partnership
For further information:
For further information, please visit our website at www.middlefield.com or contact Nancy Tham, Managing Director, Sales and Marketing, at 416.847.5349 or 1.888.890.1868.