Strategy And Objective

The Tocqueville Opportunity Fund s (the Opportunity Fund ) investment objective is long-term capital appreciation.The Opportunity Fund seeks to achieve its investment objective by investing primarily in the common stocks of small and mid cap companies which have the potential to deliver above-average long-term earnings growth. Such companies may include, but not limited to, information technology, and health care companies. The Opportunity Fund defines small cap companies as companies with a market capitalization of less than $3 billion and mid cap companies as companies with a market capitalization greater than $3 billion but less than the largest stock by market capitalization in the Russell Midcap Index. As of January 31, 2021, the largest stock by market capitalization in the Russell Midcap Index had a market capitalization of $68.327 billion.