Middlefield Mutual Funds Limited has completed the rollover of MRF 2008 Resource Limited Partnership into the Canadian Growth Class mutual fund, Middlefield announced Tuesday.

The partnership was dissolved on March 19, at which time the net asset value was $22.76 per unit. As a result, the after-tax total return on money at risk for the life of the partnership is approximately 31.3% for an Ontario investor subject to the highest marginal tax rate.

Partnership investors can determine their Canadian Growth Class shareholdings by multiplying the number of units they held in the partnership by 2.71491778. Shares of Canadian Growth Class have now been credited to the accounts of beneficial holders of partnership units. The adjusted cost base of the shares of the Canadian Growth Class distributed to investors is $3.26800689 per share.

There are no fees charged on the rollover into the mutual fund, nor on redemptions of mutual fund shares.

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 Canadian Growth Class, also offered are Groppe Tactical Energy, Income Plus, Equity Index, Canadian Balanced, Short-Term Income, Uranium Focused Metals, Global Agriculture and Precious Metals.

IE