RULE 497(e)
REGISTRATION NO.: 33-8746
THE TOCQUEVILLE FUND
THE TOCQUEVILLE ASIA-PACIFIC FUND
THE TOCQUEVILLE EUROPE FUND
THE TOCQUEVILLE SMALL CAP VALUE FUND
THE TOCQUEVILLE GOVERNMENT FUND
SUPPLEMENT DATED JUNE 20, 1996
TO
THE PROSPECTUS DATED FEBRUARY 28, 1996
I. FOR VERMONT RESIDENTS ONLY
This prospectus as it relates to The Tocqueville Government Fund shall
not constitute an offer to sell or the solicitation of an offer to buy
Class A or Class B shares in Vermont.
The offer, solicitation or sale of Class A or Class B shares of The
Tocqueville Government Fund in this state would be unlawful prior to
registration or qualification under the securities laws of such state.
II. NON-FUNDAMENTAL INVESTMENT POLICIES OF THE TOCQUEVILLE GOVERNMENT FUND
The Board of Trustees of The Tocqueville Trust approved at a meeting
held on June 13, 1996 the following amendments to the non-fundamental
investment policies of The Tocqueville Government Fund that replace the
limitations disclosed on pages 3, 22 and 23 of the prospectus:
In pursuit of its objective, the Fund intends to invest at least
65% of its assets in short and intermediate-term securities backed
by the full faith and credit of the U.S. Government. Also, at
least 50% of the Fund's assets will be invested in U.S. Treasury
bills, notes and bonds.
The Fund may invest up to 35% of its assets in Government National
Mortgage Association pass-through certificates. The Fund also may
invest up to 35% of its assets in: (i) fixed rate or adjustable
rate mortgage-backed securities issued or guaranteed by the
Federal National Mortgage Association ("FNMA") and the Federal
Home Loan Mortgage Corporation ("FHLMC"), and (ii) collateralized
mortgage obligations ("CMOs"). The Fund will limit investments in
CMOs to 10% of its portfolio.
<PAGE>
RULE 497(E)
REGISTRATION NO.: 33-8746
Consistent with the above amendments, the Board of Trustees has decided
to delete the following sentence from page 23 of the prospectus: "The
investment policies of the Fund would allow up to 35% of its net assets
to be invested in mortgage backed securities, such as GNMA
certificates, FNMA mortgage securities, FHLMC mortgage securities and
CMOs."
III. PURCHASES AT NET ASSET VALUE
A. Purchases through Certain Brokerage Accounts
Class A shares of The Tocqueville Fund, The Tocqueville Asia-Pacific
Fund, The Tocqueville Europe Fund, The Tocqueville Small Cap Value Fund
and The Tocqueville Government Fund may be purchased at net asset value
through brokerage accounts with Tocqueville Securities L.P. This
disclosure supplements the pertinent disclosure found on page 33 of the
prospectus.
B. Qualified and Other Retirement Plans
In addition, Class A shares of The Tocqueville Fund, The Tocqueville
Asia-Pacific Fund, The Tocqueville Europe Fund, The Tocqueville Small
Cap Value Fund and The Tocqueville Government Fund may be purchased at
net asset value through an Individual Retirement Account ("IRA")
sponsored by the Funds' custodian, a 401(k) Plan, 403(b) Plan or 457
(state deferred compensation) Plan. This disclosure supplements the
pertinent disclosure found on page 33 of the prospectus.
IV. MINIMUM INITIAL AND SUBSEQUENT INVESTMENTS
The minimum initial investment in The Tocqueville Trust is $5,000
except for 401(k), IRA, Keogh and other pension and profit sharing plan
accounts where the minimum is $2,000. For example, an investor may
choose to make an initial investment in a Fund equal to an amount which
is less than $5,000 so long as such investor's total initial investment
in the Funds of The Tocqueville Trust is equal to $5,000. The minimum
subsequent investment in the Trust is $1,000. This disclosure replaces
the pertinent disclosure found on page 31 of the prospectus.
<PAGE>
RULE 497(E)
REGISTRATION NO.: 33-8746
THE TOCQUEVILLE FUND
THE TOCQUEVILLE ASIA-PACIFIC FUND
THE TOCQUEVILLE EUROPE FUND
THE TOCQUEVILLE SMALL CAP VALUE FUND
THE TOCQUEVILLE GOVERNMENT FUND
SUPPLEMENT DATED JUNE 20, 1996
TO
STATEMENT OF ADDITIONAL INFORMATION DATED FEBRUARY 28, 1996
I. FOR VERMONT RESIDENTS ONLY
This statement of additional information as it relates to The
Tocqueville Government Fund shall not constitute an offer to sell or
the solicitation of an offer to buy Class A or Class B shares in
Vermont.
The offer, solicitation or sale of Class A or Class B shares of The
Tocqueville Government Fund in this state would be unlawful prior to
registration or qualification under the securities laws of such state.
II. NON-FUNDAMENTAL INVESTMENT POLICIES OF THE TOCQUEVILLE GOVERNMENT FUND
The Board of Trustees of The Tocqueville Trust approved at a meeting
held on June 13, 1996 the following amendments to the non-fundamental
investment policies of The Tocqueville Government Fund that replace the
limitations disclosed on pages 4 of the statement of additional
information:
In pursuit of its objective, the Fund intends to invest at
least 65% of its assets in short and intermediate-term
securities backed by the full faith and credit of the U.S.
Government. Also, at least 50% of the Fund's assets will be
invested in U.S. Treasury bills, notes and bonds.
The Fund may invest up to 35% of its assets in Government
National Mortgage Association pass-through certificates. The
Fund also may invest up to 35% of its assets in: (i) fixed
rate or adjustable rate mortgage-backed securities issued or
guaranteed by the Federal National Mortgage Association
("FNMA") and the Federal Home Loan Mortgage Corporation
("FHLMC"), and (ii) collateralized mortgage obligations
("CMOs"). The Fund will limit investments in CMOs to 10% of
its portfolio.
