Middlefield Mutual Funds

Mutual Funds

Overview

Middlefield Mutual Funds Limited

We are pleased to announce the following Middlefield mutual funds have been awarded a 5-star rating by Globefund (February 29, 2008): Middlefield Canadian Balanced Class (since 2007, this Fund has been a 1st quartile performer), Middlefield Enhanced Yield Fund, Middlefield Income Plus Class (this Fund has been a consistent 1st quartile performer over the past 7 years, with the exception of 2006) and Middlefield U.S. Growth Class (since 2007, this Fund has been a 1st quartile performer).

Middlefield Canadian Balanced Class FUND SYMBOL: MID 300 / MID 350

	The Fund's objective is to maximize long-term total return. The Fund invests primarily in equities, equity-related securities and fixed income securities of Canadian issuers. The mix can vary according to market conditions and expected returns for each asset class.
	Five-Star Rating (Globefund, February 29, 2008)

Middlefield Canadian Growth Class FUND SYMBOL: MID 148 / MID 450

	The Fund's objective is long-term growth of capital through investment in equity and some debt securities and investment in derivative products. Investments will be in equity securities of issuers with high growth potential operating primarily in the Canadian resource sectors and may, from time to time, hold securities of other issuers operating in other industry sectors.

Middlefield Commodities & Agriculture Class FUND SYMBOL: MID 160 / MID 165

	The Fund’s objective is to provide long-term growth of capital. The Fund invests primarily in equity securities of issuers with high growth potential operating in the agriculture and commodities sectors.

Middlefield Equity Index Class FUND SYMBOL: MID 700 / MID 750

	The Fund's objective is to provide long-term growth of capital. The Fund invests primarily in iUnits S&P/TSX 60 Index Fund ("I60's") and may invest up to 70% of the net assets in I60's. The Fund may actively manage up to 30% of the net assets to enhance diversification. The active component of the Fund may be comprised of common stocks and convertible debentures of large capitalization Canadian and international companies, and index units of U.S. and other foreign stock exchanges.

Middlefield Income Plus Class FUND SYMBOL: MID 800 / MID 850

	The Fund's objective is to provide a stable level of income while emphasizing capital preservation. The Fund invests in a diversified portfolio of fixed income and equity securities which may include income trusts.
	Five-Star Rating (Globefund, February 29, 2008)

Middlefield Precious Metals Class FUND SYMBOL: MID 170 / MID 175

	The Fund’s objective is to provide long-term growth of capital. The Fund invests primarily in equity and equity-related securities of issuers that are engaged in the exploration and production of precious metals and minerals such as gold, silver, platinum, palladium, diamonds and other precious metals, minerals and gems, and will be supplemented by the securities of issuers operating in the base metals and resource sectors.

Middlefield Resource Class FUND SYMBOL: MID 525 / MID 575

	The Fund's objective is to provide long-term growth of capital. The Fund invests in equity and equity-related securities primarily of Canadian companies participating in the natural resource, commodity and energy industries as well as suppliers to these industries.

Middlefield Short-Term Income Class FUND SYMBOL: MID 400 / MID 425

	The Fund's objective is to provide a high level of interest income, while emphasizing capital preservation and liquidity. The Fund invests in high quality fixed income securities, with maturities of generally not more than three years, including treasury bills and other short-term debt instruments. Investments are predominantly issued or guaranteed by federal or provincial governments, banks, or trust and loan companies, and may also include high grade commercial paper issued by corporations.

Uranium Focused Metals Class FUND SYMBOL: MID 210 / MID 220

	The Fund’s objective is to provide long-term growth of capital. The Fund invests in equity and equity-related securities that are engaged in the exploration and production of metals and minerals including uranium, molybdenum, nickel, copper, lead, gold, diamonds, zinc and other base and precious metals and minerals, supplemented by the securities of resource service companies.

Middlefield U.S. Growth Class FUND SYMBOL: MID 725 / MID 775

	The Fund's objective is to maximize long-term capital growth by investing primarily in U.S. equity securities. The Fund may also invest in index units of U.S. stock exchanges.
	Five-Star Rating (Globefund, February 29, 2008)



Middlefield Enhanced Yield Fund ^* FUND SYMBOL: MID 600 / MID 650

	The Fund's objective is to earn a high level of monthly income on a tax-efficient basis and capital preservation. The Fund invests in a diversified portfolio of fixed income and equity securities which may include income trusts.
	Five-Star Rating (Globefund, February 29, 2008)

Middlefield Money Market Fund ^* FUND SYMBOL: MID 200 / MID 250

	The Fund's objective is to invest in low-risk, high-quality short-term debt instruments issued or guaranteed by Canadian financial institutions, governments and corporations.

	* Middlefield Mutual Funds outside of the Corporate Class Structure


	Simplified Prospectus (May 26, 2008)

	Trade-Matching Statement