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 10019
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, 1996
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 [ ]
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:
4,275,369
Aggregate sale price of securities sold during the fiscal
year $47,237,449
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:
4,275,369
Aggregate sale price of securities sold during the fiscal
year $47,237,449
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:
270,568
Aggregate sale price of DRIP securities sold during the fiscal
year: $ 3,462,757
12. Calculation of registration fee: SEE EXHIBIT A FOR DETAIL
(i) Aggregate sale price of securities sold during the fiscal
year in reliance on rule 24f-2 (from Item 10):
$47,237,449
(ii) Aggregate price of shares issued in connection with
dividend reinvestment plans (from Item 11, if applicable):
+$3,462,757
(iii) Aggregate price of shares redeemed or repurchased during
the fiscal year (if applicable):
-$12,871,997
(iv) Aggregate price of shares redeemed or repurchased and
previously applied as a reduction to filing fees pursuant to
rule 24e-2 (if applicable):
+ 0
(v) Net aggregate price of securities sold and issued during
the fiscal year in reliance on rule 24f-2 [line (i), plus line
(ii), less line (iii), plus line (iv)] (if applicable):
$37,828,209
(vi) Multiplier prescribed by Section 6(b) of the Securities Act
of 1933 or other applicable law or regulation (see Instruction
C.6):
x1/3300
(vii) Fee due [line (i) or line (v) multiplied by line (vi)]:
$11,463.09
Instruction: Issuers should complete lines (ii), (iii), (iv),
and (v) only if the form is being filed within 60 days after the
close of the issuer's fiscal year. See Instruction C.3.
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]
Date of mailing or wire transfer of filing fees to the
Commission's lockbox depository:
December 30, 1996
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
Vice President
Date December , 1996
*Please print the name and title of the signing officer below
the signature.
123data/tocqueville/audit96/199624f2
Kramer, Levin, Naftalis & Frankel 919 Third Avenue New York,
N.Y. 10022 - 3852
December 27, 1996
The Tocqueville Trust 1675 Broadway New York, N.Y. 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
Small Cap Value Fund, The Tocqueville Asia-Pacific Fund, The
Tocqueville Europe 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, 1996.
We have reviewed, insofar as they relate or pertain to the
Trust, the Trust's Registration Statement on Form N-1A 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 of the
original documents of all copies submitted.
We are members only of the New York Bar and do not purport of
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 & Frankel
Exhibit A
The Tocqueville Trust
Calculation of Registration Fee
NUMBER OF SHARES SOLD :
Class 1 Common Stock 502,756
Class 2 Common Stock 242,242
Class 3 Common Stock 1,525,330
Class 4 Common Stock 1,332,335
Class 5 Common Stock 672,706
TOTAL = 4,275,369
AGGREGATE SALES PRICE OF PORTFOLIO SECURITIES SOLD IN RELIANCE
UPON 24F-2 (IN DOLLARS) :
Class 1 Common Stock 7,485,410
Class 2 Common Stock 2,947,467
Class 3 Common Stock 14,962,597
Class 4 Common Stock 15,071,859
Class 5 Common Stock 6,770,116
TOTAL SALES PRICE = $47,237,449
SHARES ISSUED IN CONNECTION WITH DIVIDEND REINVESTMENT PLAN:
Class 1 Common Stock 191,070
Class 2 Common Stock 45,104
Class 3 Common Stock 0
Class 4 Common Stock 0
Class 5 Common Stock 34,394
TOTAL SHARES ISSUES FROM DIVIDENDS = 270,568
SALES PRICE OF SECURITIES ISSUED IN CONNECTION WITH DIVIDEND
REINVESTMENT PLAN:
Class 1 Common Stock 2,596,710
Class 2 Common Stock 523,208
Class 3 Common Stock 0
Class 4 Common Stock 0
Class 5 Common Stock 342,839
TOTAL PRICE OF DIVIDENDS REINVESTED = $3,462,757
AGGREGATE REDEMPTION PRICE OF PORTFOLIO SECURITIES REDEEMED
DURING FISCAL YEAR:
Class 1 Common Stock 5,817,820
Class 2 Common Stock 2,643,707
Class 3 Common Stock 420,397
Class 4 Common Stock 88,852
Class 5 Common Stock 3,901,221
TOTAL PRICE OF SECURITIES REDEEMED = $12,871,997
AGGREGATE SALES PRICE OF PORTFOLIO SECURITIES ON WHICH FEE WILL
BE BASED:
Class 1 Common Stock 4,264,300
Class 2 Common Stock 826,968
Class 3 Common Stock 14,542,200
Class 4 Common Stock 14,983,007
Class 5 Common Stock 3,211,734
AGGREGATE SALES PRICE FOR FEE = $37,828,209
