Tocqueville Opportunity Fund 

This fund primarily invests in the equity shares of small and medium-sized businesses, seeking those poised to achieve above-average long-term profit expansion. Management classifies small-capitalization companies as those with a market value under $3 billion. Mid-capitalization firms are defined as having a market value greater than $3 billion but not exceeding the largest constituent of the Russell Midcap® Index. Furthermore, the fund has the discretion to invest in large-capitalization companies. The determination of a company's market value is made at the time of the initial investment.