U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 24F-2
Annual Notice of Securities Sold
Pursuant to Rule 24f-2
1. Name and address of issuer:
The Tocqueville Trust
1675 Broadway
New York, New York 10018
2. Name of each series or class of funds for which this notice is filed:
The Tocqueville Fund - Class A and Class B shares
The Tocqueville Asia-Pacific Fund - Class A and Class B shares
The Tocqueville Europe Fund - Class A and Class B shares
The Tocqueville Small Cap Value Fund - Class A and Class B shares
The Tocqueville Government Fund - Class A and Class B shares
3. Investment Company Act File Number: 811-4840
Securities Act File Number: 33-8746
4. Last day of fiscal year for which this notice is filed: October 31, 1995
5. Check box if this notice is being filed more than 180 days after the
close of the issuer's fiscal year for purposes of reporting securities
sold after the close of the fiscal year but before termination of the
issuer's 24f-2 declaration:
NOT APPLICABLE [ ]
<PAGE>
6. Date of termination of issuer's declaration under rule 24f-2(a)(1), if
applicable (see instruction A.6):
NOT APPLICABLE
7. Number and amount of securities of the same class or series which had
been registered under the Securities Act of 1933 other than pursuant to
rule 24f-2 in a prior fiscal year, but which remained unsold at the
beginning of the fiscal year:
NONE
8. Number and amount of securities registered during the fiscal year other
than pursuant to rule 24f-2:
NONE
9. Number and aggregate sale price of securities sold during the fiscal year:
Number of securities sold during the fiscal year: 1,727,890
Aggregate sale price of securities sold during the
fiscal year: $18,708,157
10. Number and aggregate sale price of securities sold during the fiscal year
in reliance upon registration pursuant to rule 24f-2:
Number of securities sold during the fiscal year: 1,727,890
Aggregate sale price of securities sold during the
fiscal year: $18,708,157
11. Number and aggregate sale price of securities issued during the fiscal
year in connection with dividend reinvestment plans, if applicable (see
Instruction B.7):
Number of DRIP securities sold during the fiscal year: 293,827
Aggregate sale price of DRIP securities sold during the
fiscal year: $3,221,203
<PAGE>
12. Calculation of registration fee:
(i) Aggregate sale price of securities sold during the fiscal
year in reliance on rule 24f-2 (from item 10): $18,708,157
(ii) Aggregate price of shares issued in connection with
dividend reinvestment plans, (from item 11, if
applicable): 3,221,203
(iii) Aggregate price of shares redeemed or repurchased during
the fiscal year (if applicable): 7,199,829
(iv) Aggregate price of shares redeemed or repurchased and
previously applied as a reduction to filing fees pursuant
to rule 24e-2 (if applicable): N/A
(v) Net aggregate price of securities sold and issued during
the fiscal year in reliance on rule 24e-2 [line (i), plus
line (ii), less line (iii), plus line (iv) (if
applicable): $14,729,531
(vi) Multiplier prescribed by Section 6(b) of the Securities
Act of 1933 or other applicable law or regulation (see
Instruction C.6): x 1/2900
(vii) Fee due [line (i) or line (v) multiplied by line (vi)]:
$5,078.74
13. Check box if fees are being remitted to the Commission's lockbox depository
as described in section 3a of the Commission's Rules of Informal and Other
Procedures (17 CFR 202.3a) [ X ]
Dates of mailings or wire transfers of filing fees to the Commission's
lockbox depository: December 22, 1995
SIGNATURES
This report has been signed below by the following persons on behalf of
the issuer and in the capacities and on the dates indicated.
By (Signature and Title)
/s/ Kieran Lyons
Kieran Lyons, Treasurer
Date: December 22, 1995
Kramer, Levin, Naftalis, Nessen, Kamin & Frankel
9 1 9 T H I R D A V E N U E
NEW YORK, N.Y. 10022 3852
(212) 715 9100
FAX
(212) 715-8000
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WRITER'S DIRECT NUMBER
(212) 715-9100
December 21, 1995
The Tocqueville Trust
1675 Broadway
New York, New York 10019
Re: The Tocqueville Trust
Registration No. 33-8746
Gentlemen:
We have acted as counsel to The Tocqueville Trust, a Massachusetts
business trust (the "Trust"), in connection with the public offering of the
Trust's shares of beneficial interest on behalf of its series, The Tocqueville
Fund, The Tocqueville Asia-Pacific Fund, The Tocqueville Europe Fund, The
Tocqueville Small Cap Value Fund, and The Tocqueville Government Fund, $.01 par
value, and on various other securities and general matters. We understand that,
pursuant to Rule 24f-2 under the Investment Company Act of 1940, the Trust has
registered an indefinite number of shares of beneficial interest under the
Securities Act of 1933. We further understand that, pursuant to the provisions
of Rule 24f-2, the Trust is filing with the Securities and Exchange Commission
the Notice attached hereto making definite the registration of shares of
beneficial interest, (the "Shares") sold in reliance upon Rule 24f-2 during the
fiscal year ended October 31, 1995.
We have reviewed, insofar as they relate or pertain to the Trust, the
Trust's Registration Statement on Form N-lA filed with the Securities and
Exchange Commission under the Securities Act of 1933 and the Investment Company
Act of 1940, as amended to the date hereof, pursuant to which Shares were sold
(the "Registration Statement"). We have also examined originals or copies
certified or otherwise identified to our satisfaction of such documents, records
and other instruments we have deemed necessary or appropriate for the purpose of
this opinion. For purposes of such examination, we have assumed the genuineness
of all signatures and original documents and the conformity to the original
documents of all copies submitted.
We are members only of the New York Bar and do not purport to be
experts on the laws of any other state. Our opinion herein as to Massachusetts
law is based upon a limited inquiry thereof that we have deemed appropriate
under the circumstances.
Based upon the foregoing, we are of the opinion that the Shares have
been duly and validly authorized and, assuming that the Shares have been issued
and sold in accordance with the Trust's Declaration of Trust and Registration
Statement, and that the consideration received therefor was not less than the
par value thereof, the Shares which the Rule 24f-2 Notice attached hereto makes
definite in number were legally issued, fully paid and non-assessable.
We consent to the filing of this opinion with the Rule 24f-2 Notice
attached hereto.
Very truly yours,
/s/ Kramer, Levin, Naftalis, Nessen,
Kamin & Frankel
