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Portfolio information as of June 30, 2022
  • Summary
  • Performance
  • Overview

Investment Objective

The Fund’s investment objective is long-term capital appreciation.


Actively managed and historically generating high active share, this low-turnover, contrarian and value-oriented approach invests across the capitalization spectrum. The Fund seeks securities that are depressed in price, out of favor with investors and trading at a substantial discount to intrinsic value. Tocqueville emphasizes free cash flow generation, balance sheet quality and the fundamental strength of a business franchise as attributes to identify the most attractive risk/reward proposition across all market capitalizations.

Firm inception: 1985

Portfolio manager:

  • James Hunt; industry since 1984


  • Employ bottom-up, fundamental security analysis to select primarily non-U.S. equities
  • Seek securities that are depressed in price, out of favor with investors and trading at a substantial discount to intrinsic value
  • Identify the most attractive risk/reward propositions across all market capitalizations
  • Target holdings with potential for significant upside over three years with limited downside risk
  • Employ portfolio risk management through qualitative and quantitative processes

Total Fund Assets

$230.7 Million  

Sub-Advisor (%)

Tocqueville Asset Management LP 100%

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Investing in foreign securities including emerging markets may involve heightened risk due to currency fluctuations and economic and political risks. Investing in Japanese securities involves heightened volatility risk due to the Japanese economy’s dependence on international trade and the significant impact from natural disasters. Investing in value stocks may limit downside risk over time; however, the Fund may produce more modest gains than riskier stock funds as a trade-off for this potentially lower risk. The use of futures contracts for cash management may subject the Fund to losing more money than invested. The Fund participates in a securities lending program. Please see the prospectus for a complete discussion of the Fund’s risks. There can be no assurances that the investment objectives of this Fund will be met.

For a prospectus containing more information, including expenses, click here. Read it carefully before you invest or send money. Past performance is no guarantee of future results.

American Beacon is a registered service mark of American Beacon Advisors, Inc. American Beacon Funds and American Beacon Tocqueville International Value Fund are service marks of American Beacon Advisors, Inc.