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Touchstone Balanced Fund

Daily NAV
$
Overall Morningstar Rating™
Allocation--50% to 70% Equity

Morningstar

Overall Morningstar Rating™ is calculated against 679 funds in the Allocation--50% to 70% Equity category.

The Morningstar Rating™ for funds, or “star rating,” is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds and separate accounts) with at least a 3-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating™ does not include any adjustment for sales load. The top 10% of products in each product category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the bottom 10% receive one star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% 3-year rating for 36-59 months of total returns, 60% 5-year rating/40% 3-year rating for 60-119 months of total returns, and 50% 10-year rating/30% 5-year rating/20% 3-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent 3-year period actually has the greatest impact because it is included in all three rating periods.
©2018 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
Class A Shares star ratings do not include any front-end sales load and are intended for those investors who have access to such purchase terms.

Overview

Overview

Actively Managed and Sub-Advised by Fort Washington Investment Advisors, Inc.

Objective

The fund seeks to provide investors with capital appreciation and current income.

Balanced Fund Commentary

Investment Style

  • Primarily invests in a diversified portfolio of fixed-income and equity securities. Under normal circumstances, the fund generally expects to allocate its assets as follows:
    - 60% equity securities
    - 40% fixed-income securities
  • Allocates assets based on relative attractiveness
    - Equity/fixed income weights
    - Sector/industry weights
    - Active duration management and yield curve positioning
  • Fundamentally driven equity and credit analysis
  • Strategic long-term execution of asset class allocation
A WORD ABOUT RISK

The Fund invests in equities which are subject to market volatility and loss. The Fund invests in stocks of large-cap companies which may be unable to respond quickly to new competitive challenges. The Fund invests in foreign securities, including depositary receipts, such as American Depositary Receipts, Global Depositary Receipts, and European Depositary Receipts, which carry the associated risks of economic and political instability, market liquidity, currency volatility and differences in accounting standards including those of certain European countries that may have the potential to leave the European Union. The Fund invests in emerging markets securities which are more likely to experience turmoil or rapid changes in market or economic conditions than developed countries. The Fund invests in debt securities which can lose their value as interest rates rise and are subject to the risk of deterioration in the financial condition of an issuer and/or general economic conditions that can cause the issuer to not make timely payments of principal and interest also causing the securities to decline in value and an investor can lose principal. The Fund invests in investment grade debt securities which may be downgraded by a Nationally Recognized Statistical Rating Organization (NRSRO) to below investment grade status. The Fund invests in non-investment grade debt securities which are considered speculative with respect to the issuers' ability to make timely payments of interest and principal, may lack liquidity and has had more frequent and larger price changes than other debt securities. The Fund invests in U.S. government agency securities which are neither issued nor guaranteed by the U.S. Treasury and are not guaranteed against price movements due to changing interest rates. The Fund invests in mortgage-backed securities and asset-backed securities which are subject to the risks of prepayment, defaults, changing interest rates and at times, the financial condition of the issuer. The Fund invests in derivatives and securities such as futures contracts, options and swap agreements including those based on the London Interbank Offered Rate (LIBOR). Derivatives can be highly volatile, illiquid and difficult to value, subject to counterparty and leverage risks and there is risk that changes in the value of a derivative held by the Fund will not correlate with the Fund’s other investments. Leverage can create an interest expense that may lower the Fund's overall returns. There can be no guarantee that a leveraging strategy will be successful. Gains or losses from speculative positions in a derivative may be much greater than the original cost and potential losses may be substantial. The Fund invests in mortgage dollar rolls which involve increased risk and volatility, as the securities the Fund is required to repurchase may be worth less than the securities that the Fund originally held. The Fund may experience higher portfolio turnover which may lead to increased fund expenses, lower investment returns and higher short-term capital gains taxable to shareholders. Current and future portfolio holdings are subject to risk. The Advisor engages a sub-advisor to make investment decisions for the Fund’s portfolio; it may be unable to identify and retain a sub-advisor who achieves superior investment returns relative to other similar sub-advisors.

Fund Facts

Fund Facts for Share Class
Symbol
CUSIP
Share Class Inception Date
Total Share Class Net Assets as of 06/30/2019
Total Fund Net Assets as of 06/30/2019 $338,545,364
Asset Class Multi-Asset / Alternative
Morningstar Category Allocation--50% to 70% Equity
Benchmark S&P 500 Index
Benchmark 2 Bloomberg Barclays U.S. Aggregate Bond Index
Distribution Frequency Quarterly
Portfolio Turnover Rate
Fiscal Year End
Prospectus Date 10/30/2018

Performance

Daily Returns as of
NAV NAV $ Change
Touchstone Balanced Fund -
HISTORICAL DAILY NAV
as of 06/30/2019
1 Month 3 Month YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Touchstone Balanced Fund -
Including Sales Charge
Touchstone Balanced Fund -
Excluding Sales Charge
S&P 500 Index 7.05% 4.30% 18.54% 10.42% 14.19% 10.71% 14.70% --
Bloomberg Barclays U.S. Aggregate Bond Index 1.26% 3.08% 6.11% 7.87% 2.31% 2.95% 3.90% --
Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. From time to time, the investment advisor may waive some fees and/or reimburse expenses, which if not waived or reimbursed, will lower performance. Returns are not annualized for periods of less than one year. Assumes reinvestment of all dividends and capital gains. The maximum front-end sales charge for Class A Shares of Touchstone U.S. Equity, International/Global Equity and Multi-Asset/Alternative Investment Funds excluding Touchstone Flexible Income Fund is 5.00%.
Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. From time to time, the investment advisor may waive some fees and/or reimburse expenses, which if not waived or reimbursed, will lower performance. Returns are not annualized for periods of less than one year. Assumes reinvestment of all dividends and capital gains. Performance for Class C Shares is adjusted for the contingent deferred sales charges (CDSC) in effect at the end of the specified period. The CDSC for Class C Shares is 1.00% the first year you hold the shares and declines to 0% after the first year.
Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. From time to time, the investment advisor may waive some fees and/or reimburse expenses, which if not waived or reimbursed, will lower performance. Returns are not annualized for periods of less than one year. Assumes reinvestment of all dividends and capital gains. Class Y Shares are sold at net asset value (NAV), without an initial sales charge and are not subject to a 12b-1 fee or contingent deferred sales charges.
The performance presented for Class C and Y Shares combines the performance of an older class of shares (A Shares) from the Fund's inception, 11/15/38, with the performance since the inception date of each share class.
Prior to October 30, 2017, the performance, rating and ranking history is that of the Sentinel Balanced Fund.
as of 06/30/2019
1 Year 3 Year 5 Year 10 Year Since Inception
Touchstone Balanced Fund -
Including Sales Charge
Touchstone Balanced Fund -
Excluding Sales Charge
S&P 500 Index 10.42% 14.19% 10.71% 14.70% --
Bloomberg Barclays U.S. Aggregate Bond Index 7.87% 2.31% 2.95% 3.90% --
Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. From time to time, the investment advisor may waive some fees and/or reimburse expenses, which if not waived or reimbursed, will lower performance. Returns are not annualized for periods of less than one year. Assumes reinvestment of all dividends and capital gains. The maximum front-end sales charge for Class A Shares of Touchstone U.S. Equity, International/Global Equity and Multi-Asset/Alternative Investment Funds excluding Touchstone Flexible Income Fund is 5.00%.
Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. From time to time, the investment advisor may waive some fees and/or reimburse expenses, which if not waived or reimbursed, will lower performance. Returns are not annualized for periods of less than one year. Assumes reinvestment of all dividends and capital gains. Performance for Class C Shares is adjusted for the contingent deferred sales charges (CDSC) in effect at the end of the specified period. The CDSC for Class C Shares is 1.00% the first year you hold the shares and declines to 0% after the first year.
Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. From time to time, the investment advisor may waive some fees and/or reimburse expenses, which if not waived or reimbursed, will lower performance. Returns are not annualized for periods of less than one year. Assumes reinvestment of all dividends and capital gains. Class Y Shares are sold at net asset value (NAV), without an initial sales charge and are not subject to a 12b-1 fee or contingent deferred sales charges.
The performance presented for Class C and Y Shares combines the performance of an older class of shares (A Shares) from the Fund's inception, 11/15/38, with the performance since the inception date of each share class.
Prior to October 30, 2017, the performance, rating and ranking history is that of the Sentinel Balanced Fund.

Consider Touchstone Balanced Fund for Your Portfolio

Touchstone Balanced Fund primarily invests in fixed-income and equity securities. It seeks to provide investors with capital appreciation and current income.
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Morningstar Rating™

Portfolio

as of 06/30/2019
Number of Holdings
241
Weighted Average Market Capitalization
$262.1 B
Median Market Capitalization
$93.0 B
as of 06/30/2019
Composition % of Portfolio
Domestic Equity 63.8
U.S. Government Bonds 16.5
Corporate Bonds 13.0
Foreign Equity 2.6
Emerging Market Bonds 2.2
Cash Equivalents 2.0
Miscellaneous 0.0
Data may not total due to rounding.
For the data illustrated for Touchstone Domestic Equity Funds, Morningstar is the source. For the data illustrated for Touchstone Fixed Income Funds,  International/Global Equity Funds and Multi-Asset & Alternative Funds, the fund’s sub-advisor is the source. All holdings data is sourced from BNY Mellon Asset Servicing.
as of 06/30/2019
Security Description % of Portfolio
Microsoft Corp. 5.0
Apple, Inc. 2.9
Visa Inc. 2.8
Boeing Co. 2.2
Texas Instruments Inc. 2.1
McDonald's Corp. 2.1
Alphabet Inc. 2.0
There is no guarantee that the Fund will continue to hold any one particular security or stay invested in any one particular sector. Holdings are subject to change. Calculations for sectors and top holdings exclude cash equivalents. Data may not total due to rounding. 
For the data illustrated for Touchstone Domestic Equity Funds, Morningstar is the source. For the data illustrated for Touchstone Fixed Income Funds,  International/Global Equity Funds and Multi-Asset & Alternative Funds, the fund’s sub-advisor is the source. All holdings data is sourced from BNY Mellon Asset Servicing.
as of 06/30/2019
Security Description
Country
Shares Par Value
Current Price ($)
Market Value ($)
% of Portfolio
ABBOTT LABORATORIES 3.75% 11/30/2026 US 114,000 108.12 123,256 0.04
ABBVIE INC 4.45% 05/14/2046 US 365,000 98.21 358,463 0.11
ACCENTURE PLC IE 30,000 184.77 5,543,100 1.64
ACTIVISION BLIZZARD INC 4.50% 06/15/2047 US 205,000 103.59 212,351 0.06
ADAMS OUTDOOR ADVERTISING LP 4.81% 11/15/2048 US 396,660 106.40 422,032 0.12
AGATE BAY MORTGAGE TRUST 2013- 3.61% 07/01/2043 US 447,059 100.46 449,115 0.13
AGATE BAY MORTGAGE TRUST 2015- 3.76% 10/01/2045 US 766,669 103.98 797,204 0.24
AIR CANADA 2015-1 CLASS A PASS 3.60% 03/15/2027 CA 100,755 102.99 103,767 0.03
ALCON INC CH 5,751 62.05 356,850 0.11
ALLERGAN FUNDING SCS 3.80% 03/15/2025 LU 260,000 103.78 269,821 0.08
ALLERGAN SALES LLC 5.00% 12/15/2021 US 322,000 104.57 336,724 0.10
ALLSTATE CORP/THE 5.75% 08/15/2053 US 207,000 104.82 216,979 0.06
ALPHABET INC US 6,000 1,080.91 6,485,460 1.92
AMAZON.COM INC US 1,301 1,893.63 2,463,613 0.73
AMERICAN EXPRESS CO US 25,000 123.44 3,086,000 0.91
AMERICAN EXPRESS CO 3.00% 10/30/2024 US 440,000 102.51 451,031 0.13
AMERICAN WATER CAPITAL CORP 6.59% 10/15/2037 US 98,000 136.78 134,044 0.04
AMERISOURCEBERGEN CORP US 23,954 85.26 2,042,318 0.60
AMGEN INC US 15,000 184.28 2,764,200 0.82
ANHEUSER-BUSCH COS LLC / ANHEU 4.90% 02/01/2046 US 380,000 111.34 423,104 0.13
APIDOS CLO XVIII 3.73% 10/22/2030 KY 450,000 99.95 449,754 0.13
APPLE INC US 48,000 197.92 9,500,160 2.81
APPLE INC 2.75% 01/13/2025 US 899,000 102.23 919,065 0.27
APPLE INC 4.65% 02/23/2046 US 110,000 118.61 130,469 0.04
ASHTEAD CAPITAL INC 4.38% 08/15/2027 US 242,000 100.13 242,303 0.07
AT&T INC US 28,740 33.51 963,077 0.28
AT&T INC 3.80% 03/15/2022 US 552,000 103.74 572,665 0.17
AT&T INC 4.35% 06/15/2045 US 88,000 99.97 87,971 0.03
AT&T INC 4.50% 05/15/2035 US 18,000 104.68 18,843 0.01
AUTONATION INC 5.50% 02/01/2020 US 89,000 101.45 90,290 0.03
AVOLON HOLDINGS FUNDING LTD 3.63% 05/01/2022 KY 402,000 101.36 407,467 0.12
BANK OF AMERICA CORP 3.71% 04/24/2028 US 355,000 105.07 372,999 0.11
BANK OF AMERICA CORP 4.00% 01/22/2025 US 535,000 105.18 562,717 0.17
BANK OF MONTREAL 3.80% 12/15/2032 CA 390,000 101.41 395,503 0.12
BANK OF NEW YORK MELLON CORP/T 2.95% 01/29/2023 US 449,000 102.09 458,400 0.14
BARCLAYS PLC 4.61% 02/15/2023 GB 435,000 103.47 450,085 0.13
BB&T CORP 2.85% 10/26/2024 US 380,000 102.50 389,497 0.12
BECTON DICKINSON AND CO US 13,000 252.01 3,276,130 0.97
BERKSHIRE HATHAWAY INC US 27,693 213.17 5,903,317 1.74
BIOGEN INC US 5,000 233.87 1,169,350 0.35
BOARDWALK PIPELINES LP 4.45% 07/15/2027 US 224,000 102.25 229,041 0.07
BOEING CO/THE US 20,000 364.01 7,280,200 2.15
BOSTON PROPERTIES LP 3.20% 01/15/2025 US 390,000 102.08 398,124 0.12
BRASKEM AMERICA FINANCE CO 7.13% 07/22/2041 US 250,000 117.87 294,675 0.09
BRISTOL-MYERS SQUIBB CO US 45,000 45.35 2,040,750 0.60
BROADCOM INC 3.13% 04/15/2021 US 400,000 100.65 402,590 0.12
BUCKEYE PARTNERS LP 3.95% 12/01/2026 US 331,000 88.62 293,344 0.09
BURLINGTON NORTHERN SANTA FE L 5.75% 05/01/2040 US 418,000 131.81 550,962 0.16
CANADIAN NATIONAL RAILWAY CO CA 32,000 92.48 2,959,360 0.87
CANADIAN NATURAL RESOURCES LTD 6.25% 03/15/2038 CA 270,000 123.47 333,372 0.10
CARNIVAL CORP PA 18,121 46.55 843,533 0.25
CELGENE CORP 5.00% 08/15/2045 US 299,000 118.68 354,848 0.10
CENOVUS ENERGY INC 4.25% 04/15/2027 CA 333,000 103.59 344,946 0.10
CHARTER COMMUNICATIONS OPERATI 6.48% 10/23/2045 US 155,000 117.83 182,638 0.05
CHENIERE CORPUS CHRISTI HOLDIN 7.00% 06/30/2024 US 350,000 115.01 402,535 0.12
CHEVRON CORP US 20,000 124.44 2,488,800 0.74
CIGNA CORP 4.38% 10/15/2028 US 312,000 107.89 336,606 0.10
CITIGROUP INC 3.20% 10/21/2026 US 330,000 101.98 336,548 0.10
CITIGROUP INC 4.75% 05/18/2046 US 197,000 113.11 222,819 0.07
CME GROUP INC US 18,000 194.11 3,493,980 1.03
COLOMBIA GOVERNMENT INTERNATIO 5.00% 06/15/2045 CO 238,000 110.35 262,633 0.08
COLUMBIA PIPELINE GROUP INC 4.50% 06/01/2025 US 301,000 107.62 323,939 0.10
COMCAST CORP US 120,000 42.28 5,073,600 1.50
COMCAST CORP 4.00% 03/01/2048 US 257,000 105.78 271,858 0.08
CORTEVA INC US 12,820 29.57 379,087 0.11
COX COMMUNICATIONS INC 3.35% 09/15/2026 US 267,000 100.98 269,615 0.08
CREDIT SUISSE AG/NEW YORK NY 3.63% 09/09/2024 CH 305,000 105.34 321,276 0.09
CRH AMERICA FINANCE INC 4.50% 04/04/2048 US 370,000 98.62 364,884 0.11
CROWN CASTLE INTERNATIONAL COR 3.65% 09/01/2027 US 403,000 102.98 415,007 0.12
CSMC 2018-RPL9 TRUST 3.85% 09/01/2057 US 774,800 103.36 800,842 0.24
CSMC TRUST 2015-1 3.94% 01/01/2045 US 767,976 100.93 775,150 0.23
CSMC TRUST 2015-WIN1 3.86% 12/01/2044 US 870,902 102.46 892,314 0.26
CVS HEALTH CORP US 10,000 54.49 544,900 0.16
CVS HEALTH CORP 4.30% 03/25/2028 US 475,000 105.45 500,877 0.15
CVS HEALTH CORP 5.13% 07/20/2045 US 230,000 106.64 245,275 0.07
DEUTSCHE TELEKOM INTERNATIONAL 8.75% 06/15/2030 NL 148,000 144.00 213,116 0.06
DOLLAR GENERAL CORP 3.25% 04/15/2023 US 406,000 102.72 417,045 0.12
DOW INC US 12,820 49.31 632,154 0.19
DREYFUS GOVERNMENT CASH MANAGE 12/01/2099 US 6,935,885 1.00 6,935,885 2.05
DTE ENERGY CO 3.70% 08/01/2023 US 105,000 104.35 109,564 0.03
DUKE ENERGY PROGRESS LLC 4.15% 12/01/2044 US 237,000 108.24 256,527 0.08
DUPONT DE NEMOURS INC US 12,820 75.07 962,397 0.28
EAGLE MATERIALS INC 4.50% 08/01/2026 US 377,000 102.12 384,975 0.11
ELECTRICITE DE FRANCE SA 4.50% 09/21/2028 FR 372,000 109.67 407,964 0.12
EMBRAER NETHERLANDS FINANCE BV 5.05% 06/15/2025 NL 166,000 107.88 179,074 0.05
EMBRAER NETHERLANDS FINANCE BV 5.40% 02/01/2027 NL 167,000 110.90 185,205 0.05
ENERGY TRANSFER OPERATING LP 4.95% 06/15/2028 US 243,000 109.33 265,676 0.08
EOG RESOURCES INC US 25,000 93.16 2,329,000 0.69
EXPRESS SCRIPTS HOLDING CO 3.30% 02/25/2021 US 327,000 101.33 331,341 0.10
EXXON MOBIL CORP US 38,000 76.63 2,911,940 0.86
FACEBOOK INC US 22,420 193.00 4,327,060 1.28
FANNIE MAE POOL 2.50% 02/01/2032 US 1,360,459 100.80 1,371,388 0.41
FANNIE MAE POOL 3.00% 03/01/2043 US 585,913 101.97 597,446 0.18
FANNIE MAE POOL 3.00% 11/01/2045 US 1,747,741 101.43 1,772,793 0.52
FANNIE MAE POOL 3.00% 12/01/2042 US 895,130 101.97 912,758 0.27
FANNIE MAE POOL 3.50% 04/01/2045 US 1,144,917 103.75 1,187,847 0.35
FANNIE MAE POOL 3.50% 05/01/2046 US 1,833,536 103.11 1,890,520 0.56
FANNIE MAE POOL 3.50% 09/01/2044 US 404,680 104.13 421,403 0.12
FANNIE MAE POOL 4.50% 03/01/2041 US 738,230 107.41 792,902 0.23
FANNIE MAE POOL 5.00% 09/01/2019 US 26 102.32 26 0.00
FANNIE MAE POOL 5.00% 09/01/2040 US 334,537 108.67 363,550 0.11
FANNIE MAE POOL 5.50% 03/01/2033 US 1,191 106.65 1,270 0.00
FANNIE MAE POOL 5.50% 05/01/2034 US 619,434 111.07 688,023 0.20
FANNIE MAE POOL 5.50% 07/01/2034 US 592,295 111.08 657,894 0.19
FANNIE MAE POOL 6.00% 11/01/2032 US 31 109.46 34 0.00
FANNIE MAE POOL 6.00% 12/01/2033 US 66,682 105.17 70,131 0.02
FANNIE MAE REMICS 3.00% 11/01/2033 US 900,000 102.88 925,905 0.27
FEDEX CORP 5.10% 01/15/2044 US 280,000 110.02 308,054 0.09
FIFTH THIRD BANCORP 2.88% 07/27/2020 US 345,000 100.46 346,584 0.10
FORD MOTOR CREDIT CO LLC 5.58% 03/18/2024 US 227,000 107.34 243,657 0.07
FREDDIE MAC GOLD POOL 4.00% 04/01/2045 US 517,304 104.66 541,412 0.16
FREDDIE MAC GOLD POOL 4.00% 10/01/2044 US 1,540,619 104.75 1,613,843 0.48
FREDDIE MAC GOLD POOL 4.00% 10/01/2044 US 3,150,604 104.69 3,298,415 0.97
FREDDIE MAC GOLD POOL 4.50% 08/01/2041 US 2,244,869 107.47 2,412,668 0.71
FREDDIE MAC GOLD POOL 5.00% 06/01/2035 US 3,318 109.43 3,630 0.00
FREDDIE MAC GOLD POOL 6.00% 12/01/2020 US 359 101.07 363 0.00
FREDDIE MAC GOLD POOL 6.50% 10/01/2022 US 6,435 100.13 6,444 0.00
FREDDIE MAC REMICS 5.00% 05/01/2041 US 1,093,972 109.82 1,201,444 0.36
GARRETT MOTION INC US 3,500 15.35 53,725 0.02
GENERAL DYNAMICS CORP US 14,000 181.82 2,545,480 0.75
GENERAL ELECTRIC CO 4.13% 10/09/2042 US 212,000 92.10 195,260 0.06
GENERAL MILLS INC 3.20% 04/16/2021 US 205,000 101.52 208,110 0.06
GENERAL MOTORS FINANCIAL CO IN 3.95% 04/13/2024 US 150,000 102.17 153,249 0.05
GENERAL MOTORS FINANCIAL CO IN 4.35% 04/09/2025 US 279,000 103.16 287,812 0.09
GINNIE MAE II POOL 4.50% 09/01/2041 US 1,108,609 106.69 1,182,800 0.35
GOLDMAN SACHS GROUP INC/THE 3.58% 07/24/2023 US 440,000 100.17 440,749 0.13
GOLDMAN SACHS GROUP INC/THE 3.69% 06/05/2028 US 150,000 103.28 154,915 0.05
GOLDMAN SACHS GROUP INC/THE 5.25% 07/27/2021 US 350,000 105.70 369,934 0.11
GOVERNMENT NATIONAL MORTGAGE A 0.56% 04/01/2054 US 7,340,216 3.41 250,033 0.07
GOVERNMENT NATIONAL MORTGAGE A 4.50% 12/01/2040 US 694,347 106.03 736,216 0.22
GRUPO BIMBO SAB DE CV 4.50% 01/25/2022 MX 380,000 103.47 393,169 0.12
GS MORTGAGE SECURITIES TRUST 2 3.66% 01/01/2043 US 1,400,000 103.07 1,442,914 0.43
HERTZ VEHICLE FINANCING II LP 2.65% 07/25/2022 US 1,350,000 100.05 1,350,659 0.40
HOME DEPOT INC/THE US 8,683 207.97 1,805,804 0.53
HOME DEPOT INC/THE 5.95% 04/01/2041 US 285,000 135.58 386,389 0.11
HONEYWELL INTERNATIONAL INC US 35,000 174.59 6,110,650 1.81
HSBC HOLDINGS PLC 3.90% 05/25/2026 GB 335,000 104.46 349,926 0.10
HUNTINGTON BANCSHARES INC/OH 4.00% 05/15/2025 US 562,000 106.69 599,593 0.18
IMPERIAL BRANDS FINANCE PLC 4.25% 07/21/2025 GB 475,000 104.94 498,449 0.15
INTERNATIONAL BUSINESS MACHINE 2.80% 05/13/2021 US 384,000 101.20 388,623 0.11
ISHARES JP MORGAN USD EMERGING US 49,202 113.29 5,574,095 1.65
JD.COM INC KY 59,294 30.29 1,796,015 0.53
JIMMY JOHNS FUNDING LLC 3.61% 07/30/2047 US 835,125 100.99 843,376 0.25
JOHNSON & JOHNSON US 23,000 139.28 3,203,440 0.95
JONES LANG LASALLE INC US 7,564 140.69 1,064,179 0.31
JPMORGAN CHASE & CO US 39,000 111.80 4,360,200 1.29
JPMORGAN CHASE & CO 3.25% 09/23/2022 US 270,000 102.73 277,379 0.08
JPMORGAN CHASE & CO 3.32% 04/23/2024 US 350,000 99.73 349,068 0.10
JPMORGAN CHASE & CO 3.51% 01/23/2029 US 425,000 103.96 441,845 0.13
KABBAGE FUNDING LLC 3.83% 03/15/2024 US 450,000 101.41 456,345 0.13
KRAFT HEINZ CO/THE US 30,000 31.04 931,200 0.28
KRAFT HEINZ FOODS CO 6.88% 01/26/2039 US 340,000 120.09 408,322 0.12
KROGER CO/THE 5.00% 04/15/2042 US 167,000 104.16 173,941 0.05
LINDE PLC IE 12,000 200.80 2,409,600 0.71
LLOYDS BANKING GROUP PLC 3.57% 11/07/2028 GB 416,000 100.10 416,427 0.12
MADISON PARK FUNDING XXXV LTD 4.17% 04/20/2031 KY 465,000 100.00 464,979 0.14
MARATHON PETROLEUM CORP US 40,000 55.88 2,235,200 0.66
MARRIOTT INTERNATIONAL INC/MD US 31,100 140.29 4,363,019 1.29
MARS INC 3.88% 04/01/2039 US 400,000 105.89 423,551 0.13
MCDONALD'S CORP US 33,000 207.66 6,852,780 2.03
MERCK & CO INC US 70,000 83.85 5,869,500 1.73
MICROSOFT CORP US 123,000 133.96 16,477,080 4.87
MICROSOFT CORP 3.50% 02/12/2035 US 210,000 106.70 224,070 0.07
MID-AMERICA APARTMENTS LP 3.75% 06/15/2024 US 288,000 104.07 299,735 0.09
MIDCONTINENT EXPRESS PIPELINE 6.70% 09/15/2019 US 106,000 100.47 106,493 0.03
MONSTER BEVERAGE CORP US 18,792 63.83 1,199,493 0.35
MORGAN STANLEY US 100,000 43.81 4,381,000 1.29
MORGAN STANLEY 3.95% 04/23/2027 US 470,000 104.60 491,608 0.15
NEW YORK LIFE GLOBAL FUNDING 3.00% 01/10/2028 US 278,000 102.27 284,307 0.08
NEXTERA ENERGY CAPITAL HOLDING 5.65% 05/01/2079 US 298,000 103.15 307,383 0.09
NGPL PIPECO LLC 7.77% 12/15/2037 US 89,000 127.00 113,030 0.03
NORFOLK SOUTHERN CORP 4.84% 10/01/2041 US 210,000 115.80 243,181 0.07
NORTHWESTERN MUTUAL LIFE INSUR 3.85% 09/30/2047 US 300,000 103.23 309,697 0.09
NOVARTIS AG CH 28,756 91.31 2,625,710 0.78
NXP BV / NXP FUNDING LLC 5.35% 03/01/2026 NL 430,000 110.74 476,186 0.14
ONCOR ELECTRIC DELIVERY CO LLC 3.80% 09/30/2047 US 76,000 104.58 79,480 0.02
ORACLE CORP US 11,308 56.97 644,217 0.19
ORACLE CORP 2.65% 07/15/2026 US 351,000 100.46 352,605 0.10
PACIFICORP 5.75% 04/01/2037 US 125,000 127.99 159,990 0.05
PARKER-HANNIFIN CORP 4.00% 06/14/2049 US 408,000 105.81 431,699 0.13
PEPSICO INC US 40,000 131.13 5,245,200 1.55
PETROLEOS MEXICANOS 4.50% 01/23/2026 MX 307,000 91.82 281,881 0.08
PHILIP MORRIS INTERNATIONAL IN US 40,000 78.53 3,141,200 0.93
PMT LOAN TRUST 2013-J1 3.50% 09/01/2043 US 720,173 101.44 730,522 0.22
PNC BANK NA 2.70% 11/01/2022 US 370,000 101.00 373,708 0.11
PNC FINANCIAL SERVICES GROUP I US 27,000 137.28 3,706,560 1.10
PROCTER & GAMBLE CO/THE US 40,000 109.65 4,386,000 1.30
PROVINCE OF ONTARIO CANADA 1.88% 05/21/2020 CA 417,000 99.77 416,025 0.12
RESIDEO TECHNOLOGIES INC US 5,833 21.92 127,859 0.04
REYNOLDS AMERICAN INC 4.45% 06/12/2025 US 351,000 106.04 372,200 0.11
S&P GLOBAL INC US 20,000 227.79 4,555,800 1.35
SABRA HEALTH CARE LP 5.13% 08/15/2026 US 149,000 104.09 155,101 0.05
SALESFORCE.COM INC US 3,733 151.73 566,408 0.17
SCHLUMBERGER LTD CW 37,700 39.74 1,498,198 0.44
SEQUOIA MORTGAGE TRUST 2015-2 3.50% 05/01/2045 US 790,716 99.98 790,564 0.23
SHELL INTERNATIONAL FINANCE BV 1.88% 05/10/2021 NL 100,000 99.56 99,557 0.03
SHERWIN-WILLIAMS CO/THE 4.50% 06/01/2047 US 398,000 106.66 424,505 0.13
SIGNATURE BANK/NEW YORK NY US 17,239 120.84 2,083,161 0.62
SIMON PROPERTY GROUP INC US 6,587 159.76 1,052,339 0.31
SL GREEN OPERATING PARTNERSHIP 3.25% 10/15/2022 US 110,000 101.33 111,468 0.03
SPIRIT REALTY LP 4.45% 09/15/2026 US 244,000 104.71 255,491 0.08
STARBUCKS CORP US 20,393 83.83 1,709,545 0.51
STRYKER CORP US 15,000 205.58 3,083,700 0.91
SUNTRUST BANKS INC 4.00% 05/01/2025 US 380,000 107.08 406,896 0.12
SUNTRUST CAPITAL I 3.19% 05/15/2027 US 476,000 91.75 436,730 0.13
TENCENT HOLDINGS LTD 3.98% 04/11/2029 KY 392,000 104.49 409,606 0.12
TEXAS INSTRUMENTS INC US 60,000 114.76 6,885,600 2.03
TJX COS INC/THE US 90,000 52.88 4,759,200 1.41
TOWD POINT MORTGAGE TRUST 2019 3.75% 03/01/2058 US 759,578 104.43 793,211 0.23
UNILEVER NV NL 70,000 60.72 4,250,400 1.26
UNITED STATES TREASURY INFLATI 0.88% 01/15/2029 US 6,745,380 105.26 7,099,924 2.10
UNITED STATES TREASURY NOTE/BO 2.13% 03/31/2024 US 340,000 101.67 345,684 0.10
UNITED STATES TREASURY NOTE/BO 2.13% 05/31/2026 US 397,000 101.67 403,637 0.12
UNITED STATES TREASURY NOTE/BO 2.25% 04/30/2021 US 6,234,000 100.84 6,286,356 1.86
UNITED STATES TREASURY NOTE/BO 2.38% 05/15/2029 US 158,000 103.34 163,277 0.05
UNITED STATES TREASURY NOTE/BO 2.50% 03/31/2023 US 8,296,000 102.79 8,527,381 2.52
UNITED STATES TREASURY NOTE/BO 2.63% 02/15/2029 US 58,000 105.45 61,163 0.02
UNITED STATES TREASURY NOTE/BO 3.00% 02/15/2049 US 3,380,000 109.83 3,712,191 1.10
UNITED STATES TREASURY NOTE/BO 3.00% 08/15/2048 US 351,000 109.67 384,948 0.11
UNITED TECHNOLOGIES CORP US 22,000 130.20 2,864,400 0.85
UNITEDHEALTH GROUP INC US 20,000 244.01 4,880,200 1.44
VEREIT OPERATING PARTNERSHIP L 4.60% 02/06/2024 US 795,000 106.19 844,182 0.25
VERISK ANALYTICS INC US 20,000 146.46 2,929,200 0.87
VERIZON COMMUNICATIONS INC US 75,000 57.13 4,284,750 1.27
VERIZON COMMUNICATIONS INC 4.67% 03/15/2055 US 130,000 113.40 147,417 0.04
VERIZON COMMUNICATIONS INC 5.01% 04/15/2049 US 285,000 119.10 339,432 0.10
VISA INC US 53,000 173.55 9,198,150 2.72
VISA INC 4.15% 12/14/2035 US 297,000 114.92 341,319 0.10
VOYA CLO LTD 07/20/2032 KY 465,000 100.00 465,000 0.14
VULCAN MATERIALS CO 4.50% 04/01/2025 US 330,000 106.60 351,778 0.10
WABTEC CORP 4.95% 09/15/2028 US 400,000 107.22 428,888 0.13
WALMART INC 2.85% 07/08/2024 US 394,000 103.32 407,062 0.12
WARNER MEDIA LLC 3.80% 02/15/2027 US 287,000 99.93 286,809 0.08
WEC ENERGY GROUP INC 4.63% 05/15/2067 US 259,000 82.50 213,675 0.06
WELLS FARGO & CO 2.10% 07/26/2021 US 285,000 99.46 283,455 0.08
WELLS FARGO & CO 4.10% 06/03/2026 US 63,000 106.05 66,813 0.02
WELLS FARGO & CO 4.13% 08/15/2023 US 270,000 105.61 285,146 0.08
WELLTOWER INC 4.25% 04/01/2026 US 309,000 106.57 329,300 0.10
WENDY'S FUNDING LLC 3.57% 03/15/2048 US 1,329,750 100.57 1,337,383 0.40
WOODSIDE FINANCE LTD 4.50% 03/04/2029 AU 309,000 105.67 326,518 0.10
ZOETIS INC US 40,000 113.49 4,539,600 1.34
There is no guarantee that the Fund will continue to hold any one particular security or stay invested in any one particular sector. Holdings are subject to change. Calculations for sectors and top holdings exclude cash equivalents. Data may not total due to rounding. 
For the data illustrated for Touchstone Domestic Equity Funds, Morningstar is the source. For the data illustrated for Touchstone Fixed Income Funds,  International/Global Equity Funds and Multi-Asset & Alternative Funds, the fund’s sub-advisor is the source. All holdings data is sourced from BNY Mellon Asset Servicing.

Management

Management

Actively Managed and Sub-Advised by Fort Washington Investment Advisors, Inc.
Timothy Policinski

Timothy J. (Tim) Policinski, CFA 

Investment Experience since 1978

Career Summary 
Fort Washington Investment Advisors, Inc.
Lincoln Investment Management Company

Education 
MBA - Indiana University
BA - Indiana University

Daniel Carter

Daniel Carter, CFA 

Investment Experience since 1996

Career Summary
Fort Washington Investment Advisors, Inc.
Ohio Casualty Corporation
Provident Bank

Education
BS - Miami University

Jaime WIlhelm

James Wilhelm

Investment Experience since 1993 

Career Summary 
Fort Washington Investment Advisors, Inc.
Riggs Investment Management Incorporation
First Union Securities
Evergreen Funds
Salomon Smith Barney 

Education 
MBA - Johns Hopkins University
BS - Wingate University

Fees

Expense Fees for Share Class
Total Annual Fund Operating Expense Ratio
Net Annual Fund Operating Expense Ratio
Touchstone Advisors has contractually agreed to waive a portion of its fees and/or reimburse certain Fund expenses in order to limit certain annual fund operating expenses (excluding Acquired Fund Fees and Expenses “AFFE,” and other expenses, if any) to 1.01% for Class A Shares, 1.78% for Class C Shares and 0.81% for Class Y Shares. These expense limitations will remain in effect until at least 10/29/2019.

Distributions

Capital Gain and Income Distribution as of
Pay Date Income Distribution Short Term Capital Gains Per Share Long Term Capital Gains Per Share Total Capital Gains Per Share

Resources

Consider Touchstone Balanced Fund for Your Portfolio

Touchstone Balanced Fund primarily invests in fixed-income and equity securities. It seeks to provide investors with capital appreciation and current income.
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Please consider the investment objectives, risks, charges and expenses of the fund carefully before investing. The prospectus and the summary prospectus contain this and other information about the Fund. To obtain a prospectus or a summary prospectus, contact your financial advisor or download and/or request one on the resources section or call Touchstone at 800-638-8194. Please read the prospectus and/or summary prospectus carefully before investing.

Investment return and principal value of an investment in a Fund will fluctuate so that investor's shares, when redeemed, may be worth more or less than their original cost. All investing involves risk.

Touchstone Funds are distributed by Touchstone Securities, Inc.*
*A registered broker-dealer and member FINRA/SIPC.

Not FDIC Insured | No Bank Guarantee | May Lose Value

All Russell® Indices are trademarks/service marks of the Frank Russell Company. Russell is a trademark of the Frank Russell Company. The Frank Russell Company (FRC) is the source and owner of the data contained or reflected in this material and all trademarks and copyrights related thereto. The material may contain confidential information and unauthorized use, disclosure, copying, dissemination or redistribution is strictly prohibited. This is a Touchstone Investments presentation of the data, and FRC is not responsible for the formatting or configuration of this material or for any inaccuracy in the presentation thereof.

MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used to create indices or financial products. This report is not approved or produced by MSCI.

©2019 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. 

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by Standard & Poor’s Financial Services, LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2011 American Bankers Association. “CUSIP” is a registered trademark of the American Bankers Association.

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