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The offering of MRF 2002 was completed in July
2002 raising $30,000,000 at an issue price of $25.00 per unit. These funds were
fully invested prior to 2003. On April 12, 2004, the assets of MRF 2002 were
exchanged for shares of the Growth Class of the Mutual Fund. On May 18, 2004,
MRF 2002 was dissolved and the shares of the Growth Class of the Mutual Fund
were distributed to partners of MRF 2002. The net asset value of MRF 2002 on
dissolution was $24.35 per unit. An investor in MRF 2002 who was an individual
resident in Ontario and who was subject to the highest marginal tax rate would
have had an after-tax cumulative return of 46% on money at risk if the Growth
Class Shares were redeemed immediately upon dissolution of the
partnership. |
