TORONTO, April 16, 2014 /CNW/ - Middlefield Mutual Funds Limited (the "Mutual Fund") is pleased to announce that it has completed the
rollover of MRF 2012 Resource Limited Partnership (the "Partnership") into the Groppe Tactical Energy Class (MID125)
mutual fund. The Partnership was dissolved on April 15, 2014, at which time the net
asset value was $20.08 per unit. As a result, the after-tax total
return on money at risk for the life of the Partnership was
approximately 23.4% for an Ontario investor subject to the highest
marginal tax rate.
For those investors looking for tax shelter in 2014, please be advised
that MRF 2014 Resource Limited Partnership is currently available for
Partnership investors can determine their Groppe Tactical Energy
shareholdings by multiplying the number of units they held in the
Partnership by 1.03380744. Shares of Groppe Tactical Energy have now
been credited to the accounts of beneficial holders of Partnership
units. There are no fees charged on the rollover into the Mutual Fund,
nor on redemptions of Mutual Fund shares.
The objective of Groppe Tactical Energy is to maximize long-term return
by investing in equity and fixed income securities of issuers that
operate in or have exposure to the oil and gas industry. As at March 31, 2014, Groppe Tactical Energy (MID 125) generated
annualized total returns for the year-to-date, one and three year
periods of 20.7%, 39.1% and 6.2%, respectively as well as an annualized
total return of 13.6% since inception in July 2009.
The transfer to the Mutual Fund was a tax-free exchange which means that
no disposition occurred and therefore no capital gains tax is payable
as a result of the rollover. Investors can continue to defer the capital gains tax liability that
arises upon disposition of their investment by retaining the shares of
the Mutual Fund, which currently offers nine asset classes into which
they can switch tax-free. These asset classes provide significant flexibility to suit numerous
investment objectives including income, growth and safety of capital.
In addition to Groppe Tactical Energy, the other classes currently
offered are Income Plus, 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.
SOURCE: MRF 2012 Resource Limited Partnership
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.
Calgary: 812 Memorial Drive NW, Calgary, Alberta T2N 3C8
Toronto: First Canadian Place, 58th Floor, P.O. Box 192, Toronto, Ontario M5X 1A6