FormStartPosition.CenterParent does not work

In the following code, only the second method works for me (.NET 4.0). FormStartPosition.CenterParent does not center the child form over its parent. Why?

Source: this SO question

using System;
using System.Drawing;
using System.Windows.Forms;

class Program
{
  private static Form f1;

  public static void Main()
  {
    f1 = new Form() { Width = 640, Height = 480 };
    f1.MouseClick += f1_MouseClick; 
    Application.Run(f1);
  }

  static void f1_MouseClick(object sender, MouseEventArgs e)
  {
    Form f2 = new Form() { Width = 400, Height = 300 };
    switch (e.Button)
    {
      case MouseButtons.Left:
      {
        // 1st method
        f2.StartPosition = FormStartPosition.CenterParent;
        break;
      }
      case MouseButtons.Right:
      {
        // 2nd method
        f2.StartPosition = FormStartPosition.Manual;
        f2.Location = new Point(
          f1.Location.X + (f1.Width - f2.Width) / 2, 
          f1.Location.Y + (f1.Height - f2.Height) / 2
        );
        break;
      }
    }
    f2.Show(f1); 
  }
}