TORONTO, Feb. 7, 2012 /CNW/ - Middlefield Mutual Funds Limited (the "Mutual Fund") is pleased to announce that it has completed the rollover of MRF 2010 Resource Limited Partnership (the "Partnership") into the Groppe Tactical Energy Class (MID125) mutual fund. The Partnership was dissolved on February 6, 2012 at which time the net asset value was $20.39 per unit. The after-tax total return on money at risk for the life of the Partnership was therefore approximately 25% for an Ontario investor subject to the highest marginal tax rate.
Partnership investors can determine their Groppe Tactical Energy Class shareholdings by multiplying the number of units they held in the Partnership by 1.46747461. Shares of Groppe Tactical Energy Class have now been credited to the accounts of beneficial holders of Partnership units. The adjusted cost base of the shares of the Groppe Tactical Energy Class distributed to Partnership investors is $7.10253515 per share. 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 2012, please be advised that MRF 2012 Resource Limited Partnership is currently available for investment.
The transfer 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. In addition to the Groppe Tactical Energy Class, also offered are Precious Metals, Income Plus, ActiveIndex REIT, Income and Growth, Canadian Growth, Global Agriculture, Uranium Focused Metals and Short-Term Income.
Investors should consult with their advisors to determine the strategy that is most suitable for achievement of their own personal needs and objectives.
For further information:
For further information visit our website at www.middlefield.com or contact the undersigned:
Managing Director, Sales and Marketing