CALGARY, Jan. 23, 2014 /CNW/ - Middlefield Mutual Funds Limited (the "Mutual Fund") is pleased to announce that it has completed the rollover of Discovery 2011 Flow-Through Limited Partnership (the "Partnership") into the Groppe Tactical Energy Class (MID125) mutual fund. The Partnership was dissolved on January 22, 2014.
Partnership investors can determine their Groppe Tactical Energy Class shareholdings by multiplying the number of units they held in the Partnership by 0.90925873. Shares of Groppe Tactical Energy Class 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. For those investors looking for a tax shelter in 2014, please be advised that MRF 2014 Resource Limited Partnership is currently available for investment.
The Middlefield Groppe Tactical Energy Class, launched in July 2009, actively invests in the oil and gas sector. Groppe is a 4-star rated Fund by both Globefund and Morningstar. As at December 31, 2013, Groppe Tactical Energy has generated annualized total returns for the one and three year periods and since inception of 20.5%, 4.2% and 9.6%, respectively.
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 for the achievement of their own personal needs and objectives.
SOURCE: Discovery 2011 Flow-Through 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.