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Touchstone Balanced Fund

Touchstone Balanced Fund

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

Morningstar

Overall Morningstar Rating™ is calculated against 690 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. 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 such as futures contracts, options and swap agreements. 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 03/31/2019
Total Fund Net Assets as of 03/31/2019 $321,239,500
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 04/30/2019
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 4.05% 9.48% 18.25% 13.49% 14.87% 11.63% 15.32% --
Bloomberg Barclays U.S. Aggregate Bond Index 0.03% 1.89% 2.97% 5.29% 1.90% 2.57% 3.72% --
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 03/31/2019
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 9.50% 13.51% 10.91% 15.92% --
Bloomberg Barclays U.S. Aggregate Bond Index 4.48% 2.03% 2.74% 3.77% --
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 03/31/2019
Number of Holdings
251
Weighted Average Market Capitalization
$244.6 B
Median Market Capitalization
$99.5 B
as of 03/31/2019
Composition % of Portfolio
Domestic Equity 64.1
U.S. Government Bonds 16.7
Corporate Bonds 12.7
Foreign Equity 2.7
Emerging Market Bonds 2.4
Cash Equivalents 1.4
Miscellaneous 0.0
Data may not total due to rounding.
For the data illustrated for Touchstone Domestic Equity Funds, Morningstar is the source. For the data illustrated for Touchstone Fixed Income Funds,  International/Global Equity Funds and Multi-Asset & Alternative Funds, the fund’s sub-advisor is the source. All holdings data is sourced from BNY Mellon Asset Servicing.
as of 04/30/2019
Security Description % of Portfolio
MICROSOFT CORP 5.0
APPLE INC 3.0
VISA INC-CLASS A SHARES 2.7
US TREASURY N/B 2.50% 03/31/2023 2.6
BOEING CO/THE 2.3
ALPHABET INC-CL C 2.2
TEXAS INSTRUMENTS INC 2.2
MCDONALD'S CORP 2.0
HONEYWELL INTERNATIONAL INC 1.9
BERKSHIRE HATHAWAY INC-CL B 1.9
There is no guarantee that the Fund will continue to hold any one particular security or stay invested in any one particular sector. Holdings are subject to change. Calculations for sectors and top holdings exclude cash equivalents. Data may not total due to rounding. 
For the data illustrated for Touchstone Domestic Equity Funds, Morningstar is the source. For the data illustrated for Touchstone Fixed Income Funds,  International/Global Equity Funds and Multi-Asset & Alternative Funds, the fund’s sub-advisor is the source. All holdings data is sourced from BNY Mellon Asset Servicing.
as of 03/31/2019
Security Description
Country
Shares Par Value
Current Price ($)
Market Value ($)
% of Portfolio
ABBOTT LABS 3.75% 11/30/2026 US 114,000 103.95 118,506 0.04
ABBVIE INC 4.45% 05/14/2046 US 365,000 92.72 338,434 0.11
ACCENTURE PLC-CL A IE 30,000 176.02 5,280,600 1.65
ACTAVIS FUNDING 3.80% 03/15/2025 LU 260,000 101.30 263,389 0.08
ACTIVISION BLIZZ 4.50% 06/15/2047 US 254,000 94.05 238,888 0.07
ADAMS OUTDOOR ADVERTISING 4.81% 11/15/2048 US 398,091 104.37 415,499 0.13
AGATE BAY MORTGAGE LOAN TRUST 3.77% 10/25/2045 US 772,135 102.23 789,347 0.25
AIR CAN 2015-1A 3.60% 03/15/2027 CA 100,755 99.41 100,160 0.03
ALBERTA PROVINCE 2.20% 07/26/2022 CA 359,000 98.63 354,064 0.11
ALLERGAN SALES 5.00% 12/15/2021 US 322,000 104.07 335,106 0.10
ALLSTATE CORP 5.75% 08/15/2053 US 144,000 101.00 145,440 0.05
ALPHABET INC-CL C US 6,000 1,173.31 7,039,860 2.20
AMAZON.COM INC US 1,301 1,780.75 2,316,756 0.72
AMERICAN EXPRESS 3.00% 10/30/2024 US 440,000 99.50 437,803 0.14
AMERICAN EXPRESS CO US 25,000 109.30 2,732,500 0.85
AMERICAN WATER 6.59% 10/15/2037 US 98,000 133.45 130,777 0.04
AMERISOURCEBERGEN CORP US 23,954 79.52 1,904,822 0.59
AMGEN INC US 15,000 189.98 2,849,700 0.89
ANHEUSER-BUSCH 4.90% 02/01/2046 US 380,000 100.44 381,666 0.12
APPLE INC US 48,000 189.95 9,117,600 2.85
APPLE INC 2.75% 01/13/2025 US 899,000 99.59 895,327 0.28
APPLE INC 4.65% 02/23/2046 US 110,000 112.98 124,280 0.04
ARC PROPERTIES 4.60% 02/06/2024 US 795,000 102.90 818,071 0.26
ASHTEAD CAPITAL 4.38% 08/15/2027 US 242,000 96.50 233,530 0.07
AT&T INC US 28,740 31.36 901,286 0.28
AT&T INC 3.80% 03/15/2022 US 552,000 102.55 566,093 0.18
AT&T INC 4.35% 06/15/2045 US 88,000 91.76 80,745 0.03
AUTONATION INC 5.50% 02/01/2020 US 89,000 101.97 90,756 0.03
BAHIA SUL HLDGS 5.75% 07/14/2026 AT 470,000 106.56 500,832 0.16
BANK OF AMER CRP 3.71% 04/24/2028 US 355,000 100.45 356,590 0.11
BANK OF AMER CRP 4.00% 01/22/2025 US 535,000 101.98 545,611 0.17
BANK OF MONTREAL 3.80% 12/15/2032 CA 390,000 96.70 377,130 0.12
BANK OF NY MELLO 2.95% 01/29/2023 US 449,000 100.53 451,365 0.14
BARCLAYS PLC 4.61% 02/15/2023 GB 435,000 102.06 443,972 0.14
BB&T CORPORATION 2.85% 10/26/2024 US 380,000 99.39 377,674 0.12
BECTON DICKINSON AND CO US 13,000 249.73 3,246,490 1.01
BERKSHIRE HATHAWAY INC-CL B US 27,693 200.89 5,563,247 1.74
BIOGEN INC US 5,000 236.38 1,181,900 0.37
BMW US CAP LLC 3.10% 04/12/2021 US 658,000 100.62 662,103 0.21
BOARDWALK PIPELI 4.45% 07/15/2027 US 224,000 97.53 218,457 0.07
BOEING CO/THE US 20,000 381.42 7,628,400 2.38
BOSTON PROP LP 3.20% 01/15/2025 US 390,000 99.21 386,923 0.12
BRASKEM AMERICA 7.13% 07/22/2041 US 250,000 115.25 288,125 0.09
BRISTOL-MYERS SQUIBB CO US 45,000 47.71 2,146,950 0.67
BUCKEYE PARTNERS 3.95% 12/01/2026 US 331,000 95.08 314,702 0.10
BURLINGTON NORTH 5.75% 05/01/2040 US 418,000 124.06 518,570 0.16
CANADIAN NATL RAILWAY CO CA 32,000 89.48 2,863,360 0.89
CARE CAPITAL 5.13% 08/15/2026 US 149,000 97.89 145,858 0.05
CARGILL INC 3.05% 04/19/2021 US 438,000 100.61 440,673 0.14
CARNIVAL CORP US 18,121 50.72 919,097 0.29
CELGENE CORP 5.00% 08/15/2045 US 299,000 104.94 313,767 0.10
CENOVUS ENERGY 4.25% 04/15/2027 CA 333,000 98.31 327,356 0.10
CHARTER COMM OPT 6.48% 10/23/2045 US 155,000 112.10 173,755 0.05
CHENIERE CORP CH 7.00% 06/30/2024 US 350,000 112.88 395,080 0.12
CHEVRON CORP US 20,000 123.18 2,463,600 0.77
CITIGROUP INC 3.20% 10/21/2026 US 330,000 97.94 323,213 0.10
CITIGROUP INC 4.75% 05/18/2046 US 197,000 103.61 204,118 0.06
CME GROUP INC US 18,000 164.58 2,962,440 0.92
COLOMBIA REP OF 5.00% 06/15/2045 CO 238,000 104.92 249,710 0.08
COLUMBIA PIPELIN 4.50% 06/01/2025 US 301,000 104.37 314,154 0.10
COMCAST CORP 4.00% 03/01/2048 US 232,000 97.47 226,133 0.07
COMCAST CORP-CLASS A US 120,000 39.98 4,797,600 1.50
COX COMMUN INC 3.35% 09/15/2026 US 267,000 97.45 260,179 0.08
CRED SUIS NY 3.63% 09/09/2024 CH 305,000 101.71 310,201 0.10
CREDIT SUISSE MORTAGE TRUST 3.85% 09/25/2057 US 803,958 101.52 816,182 0.25
CREDIT SUISSE MORTGAGE TRUST 3.86% 12/25/2044 US 877,447 100.85 884,869 0.28
CREDIT SUISSE MORTGAGE TRUST 3.95% 01/25/2045 US 773,281 99.20 767,081 0.24
CRH AMERICA FIN 4.50% 04/04/2048 US 370,000 92.65 342,822 0.11
CROWN CASTLE INT 3.65% 09/01/2027 US 403,000 98.33 396,278 0.12
CVS HEALTH CORP US 10,000 53.93 539,300 0.17
CVS HEALTH CORP 4.30% 03/25/2028 US 475,000 101.33 481,294 0.15
CVS HEALTH CORP 5.13% 07/20/2045 US 230,000 101.63 233,746 0.07
DEUTSCHE TEL FIN 8.75% 06/15/2030 NL 148,000 137.56 203,596 0.06
DIAMOND 1 FIN/DI 6.02% 06/15/2026 US 235,000 107.56 252,754 0.08
DOLLAR GENERAL 3.25% 04/15/2023 US 406,000 100.56 408,288 0.13
DOLLAR TREE 3.47% 04/17/2020 US 434,000 100.02 434,096 0.14
DOWDUPONT INC US 38,460 53.31 2,050,303 0.64
DREYFUS-GOV C-IN US 4,993,479 1.00 4,993,479 1.56
DTE ENERGY CO 3.70% 08/01/2023 US 105,000 102.37 107,491 0.03
DUKE ENERGY PROG 4.15% 12/01/2044 US 237,000 104.13 246,797 0.08
EAGLE MATERIALS 4.50% 08/01/2026 US 377,000 101.22 381,582 0.12
ELEC DE FRANCE 4.50% 09/21/2028 FR 329,000 103.21 339,561 0.11
EMBRAER NL FINAN 5.05% 06/15/2025 NL 166,000 105.50 175,130 0.05
EMBRAER NL FINAN 5.40% 02/01/2027 NL 167,000 107.75 179,943 0.06
ENBRIDGE INC 3.31% 06/15/2020 CA 418,000 99.96 417,845 0.13
ENERGY TRANSFER 4.95% 06/15/2028 US 243,000 104.88 254,869 0.08
EOG RESOURCES IN 3.90% 04/01/2035 US 266,000 101.98 271,263 0.08
EOG RESOURCES INC US 25,000 95.18 2,379,500 0.74
EXPRESS SCRIPTS 3.30% 02/25/2021 US 327,000 100.67 329,201 0.10
EXXON MOBIL CORP US 38,000 80.80 3,070,400 0.96
FACEBOOK INC-CLASS A US 22,420 166.69 3,737,190 1.17
FANNIE MAE 2.50% 02/01/2032 US 1,411,823 99.54 1,405,388 0.44
FANNIE MAE 3.00% 03/01/2043 US 606,936 100.07 607,343 0.19
FANNIE MAE 3.00% 11/01/2045 US 1,811,965 99.80 1,808,409 0.56
FANNIE MAE 3.00% 11/25/2033 US 900,000 99.92 899,243 0.28
FANNIE MAE 3.00% 12/01/2042 US 931,828 100.07 932,452 0.29
FANNIE MAE 3.50% 04/01/2045 US 1,164,486 102.00 1,187,824 0.37
FANNIE MAE 3.50% 05/01/2046 US 1,892,585 101.70 1,924,667 0.60
FANNIE MAE 3.50% 09/01/2044 US 412,189 102.24 421,435 0.13
FANNIE MAE 4.50% 03/01/2041 US 744,953 105.70 787,382 0.25
FANNIE MAE 4.50% 06/01/2019 US 114 101.70 116 0.00
FANNIE MAE 5.00% 09/01/2019 US 82 102.24 84 0.00
FANNIE MAE 5.00% 09/01/2040 US 340,697 107.86 367,487 0.11
FANNIE MAE 5.50% 03/01/2033 US 1,205 106.74 1,287 0.00
FANNIE MAE 5.50% 05/01/2034 US 646,630 110.03 711,474 0.22
FANNIE MAE 5.50% 07/01/2034 US 611,479 110.04 672,893 0.21
FANNIE MAE 6.00% 11/01/2032 US 32 107.70 34 0.00
FANNIE MAE 6.00% 12/01/2033 US 67,585 103.98 70,273 0.02
FEDEX CORP 5.10% 01/15/2044 US 280,000 104.08 291,429 0.09
FIFTH THIRD BANK 2.88% 07/27/2020 US 345,000 100.16 345,538 0.11
FORD MOTOR CO 4.75% 01/15/2043 US 118,000 78.37 92,472 0.03
FORD MOTOR CRED 5.58% 03/18/2024 US 227,000 101.43 230,240 0.07
FREDDIE MAC 4.00% 04/01/2045 US 545,624 103.30 563,641 0.18
FREDDIE MAC 4.00% 10/01/2044 US 1,554,283 103.38 1,606,840 0.50
FREDDIE MAC 4.00% 10/01/2044 US 3,279,543 103.34 3,388,956 1.06
FREDDIE MAC 4.50% 08/01/2041 US 2,342,014 105.90 2,480,102 0.77
FREDDIE MAC 5.00% 05/15/2041 US 1,140,881 109.18 1,245,582 0.39
FREDDIE MAC 5.00% 06/01/2035 US 3,465 107.79 3,735 0.00
FREDDIE MAC 6.00% 12/01/2020 US 452 101.08 457 0.00
FREDDIE MAC 6.50% 10/01/2022 US 6,957 100.09 6,963 0.00
GARRETT MOTION INC US 3,500 14.73 51,555 0.02
GEN ELECTRIC CO 4.13% 10/09/2042 US 500,000 86.78 433,909 0.14
GEN MOTORS FIN 3.20% 07/13/2020 US 385,000 100.17 385,640 0.12
GEN MOTORS FIN 3.95% 04/13/2024 US 150,000 98.97 148,452 0.05
GEN MOTORS FIN 4.35% 04/09/2025 US 279,000 99.57 277,796 0.09
GENERAL DYNAMICS CORP US 14,000 169.28 2,369,920 0.74
GENERAL MILLS IN 3.20% 04/16/2021 US 205,000 100.87 206,778 0.06
GNR 2012-147 IO 0.56% 04/16/2054 US 7,380,293 3.41 251,976 0.08
GOLDMAN SACHS GP 3.69% 06/05/2028 US 150,000 99.05 148,568 0.05
GOLDMAN SACHS GP 3.78% 07/24/2023 US 440,000 99.95 439,770 0.14
GOLDMAN SACHS GP 5.25% 07/27/2021 US 350,000 105.05 367,667 0.11
GOVERNMENT NATIONAL MORTGAGE A 4.50% 09/20/2041 US 1,152,050 105.29 1,212,964 0.38
GOVERNMENT NATIONAL MORTGAGE A 4.50% 12/20/2040 US 738,428 104.84 774,159 0.24
GRUPO BIMBO SAB 4.50% 01/25/2022 MX 380,000 102.96 391,247 0.12
GS MORTGAGE SECURITIES TRUST 3.54% 01/10/2043 US 1,400,000 98.85 1,383,882 0.43
HALFMOON PARENT 4.38% 10/15/2028 US 312,000 103.73 323,628 0.10
HERTZ VEHICLE FINANCING LLC 2.65% 07/25/2022 US 1,350,000 98.77 1,333,370 0.42
HOME DEPOT INC US 8,683 191.89 1,666,181 0.52
HOME DEPOT INC 5.95% 04/01/2041 US 285,000 128.26 365,550 0.11
HONEYWELL INTERNATIONAL INC US 35,000 158.92 5,562,200 1.74
HSBC HOLDINGS 3.90% 05/25/2026 GB 335,000 101.25 339,189 0.11
HUDSON PACIFIC 4.65% 04/01/2029 US 318,000 101.87 323,952 0.10
HUNTINGTON BANCS 4.00% 05/15/2025 US 562,000 104.00 584,457 0.18
IMPERIAL BRANDS 4.25% 07/21/2025 GB 475,000 101.99 484,468 0.15
INTERPUBLIC GRP 3.75% 10/01/2021 US 267,000 101.74 271,640 0.08
ISHARES JP MORGAN USD EMERGI US 49,202 110.06 5,415,172 1.69
JD.COM INC-ADR CN 59,294 30.15 1,787,714 0.56
JIMMY JOHN'S FUNDING LLC 3.61% 07/30/2047 US 837,250 100.05 837,685 0.26
JOHNSON & JOHNSON US 23,000 139.79 3,215,170 1.00
JONES LANG LASALLE INC US 7,564 154.18 1,166,218 0.36
JPMORGAN CHASE & CO US 39,000 101.23 3,947,970 1.23
JPMORGAN CHASE 3.25% 09/23/2022 US 270,000 101.40 273,778 0.09
JPMORGAN CHASE 3.50% 04/23/2024 US 350,000 99.21 347,234 0.11
JPMORGAN CHASE 3.51% 01/23/2029 US 425,000 99.32 422,106 0.13
KABBAGE FUNDING LLC 3.83% 03/15/2024 US 450,000 100.21 450,929 0.14
KIMCO REALTY 3.13% 06/01/2023 US 202,000 99.11 200,212 0.06
KINDER MORGAN EN 3.50% 09/01/2023 US 440,000 101.29 445,689 0.14
KRAFT FOODS GROU 6.88% 01/26/2039 US 255,000 113.10 288,413 0.09
KRAFT HEINZ CO/THE US 30,000 32.65 979,500 0.31
KROGER CO 5.00% 04/15/2042 US 140,000 97.74 136,839 0.04
LINDE PLC GB 12,000 175.93 2,111,160 0.66
LLOYDS BK GR PLC 3.57% 11/07/2028 GB 416,000 96.03 399,466 0.12
MARATHON PETROLEUM CORP US 40,000 59.85 2,394,000 0.75
MARRIOTT INTERNATIONAL -CL A US 31,100 125.09 3,890,299 1.21
MCDONALD'S CORP US 33,000 189.90 6,266,700 1.96
MERCK & CO. INC. US 70,000 83.17 5,821,900 1.82
MICROSOFT CORP US 123,000 117.94 14,506,620 4.53
MICROSOFT CORP 3.50% 02/12/2035 US 210,000 101.35 212,843 0.07
MID-AMER APT LP 3.75% 06/15/2024 US 288,000 101.89 293,429 0.09
MIDCONTINENT EXP 6.70% 09/15/2019 US 106,000 100.24 106,259 0.03
MONSTER BEVERAGE CORP US 18,792 54.58 1,025,667 0.32
MOODY'S CORP 2.75% 12/15/2021 US 374,000 99.99 373,955 0.12
MORGAN STANLEY US 100,000 42.20 4,220,000 1.32
MORGAN STANLEY 3.74% 04/24/2024 US 148,000 101.99 150,949 0.05
MORGAN STANLEY 3.95% 04/23/2027 US 470,000 99.97 469,858 0.15
NEXTERA ENERGY 2.80% 01/15/2023 US 250,000 99.26 248,158 0.08
NGPL PIPECO LLC 7.77% 12/15/2037 US 89,000 120.00 106,800 0.03
NORTHWESTERN MUT 3.85% 09/30/2047 US 300,000 97.32 291,970 0.09
NOVARTIS AG-SPONSORED ADR CH 28,756 96.14 2,764,602 0.86
NXP BV/NXP FUNDI 5.35% 03/01/2026 NL 430,000 107.61 462,714 0.14
ONCOR ELECTRIC D 3.80% 09/30/2047 US 76,000 100.68 76,515 0.02
ONTARIO PROVINCE 1.88% 05/21/2020 CA 417,000 99.29 414,046 0.13
ORACLE CORP US 11,308 53.71 607,353 0.19
ORACLE CORP 2.65% 07/15/2026 US 351,000 96.74 339,543 0.11
PACIFICORP 5.75% 04/01/2037 US 125,000 122.35 152,934 0.05
PEPSICO INC US 40,000 122.55 4,902,000 1.53
PETROLEOS MEXICA 4.50% 01/23/2026 MX 307,000 92.98 285,449 0.09
PETROLEOS MEXICA 5.35% 02/12/2028 MX 53,000 92.80 49,184 0.02
PHILIP MORRIS INTERNATIONAL US 40,000 88.39 3,535,600 1.10
PMTLT 2013-J1 3.50% 09/25/2043 US 745,324 100.44 748,610 0.23
PNC BANK NA 2.70% 11/01/2022 US 370,000 99.49 368,095 0.11
PNC FINANCIAL SERVICES GROUP US 27,000 122.66 3,311,820 1.03
PRICELINE GROUP 3.60% 06/01/2026 US 410,000 101.62 416,649 0.13
PROCTER & GAMBLE CO/THE US 40,000 104.05 4,162,000 1.30
QUALCOMM INC 3.45% 05/20/2025 US 340,000 100.74 342,501 0.11
RESIDEO TECHNOLOGIES INC US 5,833 19.29 112,519 0.04
REYNOLDS AMERICA 4.45% 06/12/2025 US 351,000 102.79 360,804 0.11
ROYAL BK CANADA 3.20% 04/30/2021 CA 434,000 101.12 438,849 0.14
S&P GLOBAL INC US 20,000 210.55 4,211,000 1.31
SALESFORCE.COM INC US 3,733 158.37 591,195 0.18
SCHLUMBERGER LTD US 37,700 43.57 1,642,589 0.51
SEQUOIA MORTGAGE TRUST 3.50% 05/25/2045 US 831,708 99.03 823,654 0.26
SHELL INTL FIN 1.88% 05/10/2021 NL 100,000 98.70 98,700 0.03
SHERWIN-WILLIAMS 4.50% 06/01/2047 US 398,000 98.41 391,673 0.12
SIGNATURE BANK US 17,239 128.07 2,207,799 0.69
SIMON PROPERTY GROUP INC US 6,587 182.21 1,200,217 0.37
SL GREEN OPERAT 3.25% 10/15/2022 US 110,000 99.57 109,528 0.03
SPIRIT REALTY LP 4.45% 09/15/2026 US 244,000 99.09 241,787 0.08
STARBUCKS CORP US 20,393 74.34 1,516,016 0.47
STARWOOD COMMERCIAL MORTGAGE T 4.06% 05/15/2035 US 800,000 99.50 795,992 0.25
STRYKER CORP US 15,000 197.52 2,962,800 0.92
SUNTRUST BANKS 3.35% 05/15/2027 US 476,000 93.19 443,575 0.14
SUNTRUST BANKS 4.00% 05/01/2025 US 380,000 104.63 397,580 0.12
TEXAS INSTRUMENTS INC US 60,000 106.07 6,364,200 1.99
THERMO FISHER 3.60% 08/15/2021 US 270,000 101.64 274,424 0.09
TIME WARNER INC 3.80% 02/15/2027 US 287,000 99.59 285,832 0.09
TJX COMPANIES INC US 90,000 53.21 4,788,900 1.49
TOWD POINT MORTGAGE TRUST 3.75% 03/25/2058 US 783,800 101.54 795,857 0.25
TOYOTA MTR CRED 2.95% 04/13/2021 US 434,000 100.68 436,948 0.14
TSY INFL IX N/B 1.00% 02/15/2048 US 4,630,000 104.14 4,821,768 1.50
TSY INFL IX N/B 1.00% 02/15/2049 US 2,035,000 102.53 2,086,574 0.65
TYSON FOODS INC 3.90% 09/28/2023 US 200,000 103.02 206,035 0.06
UNILEVER N V -NY SHARES GB 70,000 58.29 4,080,300 1.27
UNITED TECHNOLOGIES CORP US 22,000 128.89 2,835,580 0.88
UNITEDHEALTH GROUP INC US 20,000 247.26 4,945,200 1.54
UNITEDHEALTH GRP 2.38% 10/15/2022 US 442,000 98.96 437,414 0.14
URUGUAY 4.98% 04/20/2055 UY 140,000 104.75 146,650 0.05
US 5YR NOTE(CBT) JUN19 07/03/2019 US 109 115.83 -17,322 -0.01
US TREASURY N/B 2.50% 03/31/2023 US 8,796,000 101.01 8,884,647 2.77
US TREASURY N/B 2.50% 05/31/2020 US 865,000 100.13 866,081 0.27
US TREASURY N/B 3.00% 08/15/2048 US 615,000 103.52 636,621 0.20
VERISK ANALYTICS INC US 20,000 133.00 2,660,000 0.83
VERIZON COMM INC 4.67% 03/15/2055 US 130,000 101.88 132,446 0.04
VERIZON COMM INC 5.01% 04/15/2049 US 285,000 109.18 311,160 0.10
VERIZON COMMUNICATIONS INC US 75,000 59.13 4,434,750 1.38
VISA INC 4.15% 12/14/2035 US 297,000 108.99 323,698 0.10
VISA INC-CLASS A SHARES US 53,000 156.19 8,278,070 2.58
VULCAN MATERIALS 4.50% 04/01/2025 US 330,000 103.20 340,569 0.11
WABTEC 4.95% 09/15/2028 US 400,000 101.49 405,943 0.13
WELLS FARGO CO 2.10% 07/26/2021 US 285,000 98.42 280,497 0.09
WELLS FARGO CO 4.10% 06/03/2026 US 63,000 102.23 64,408 0.02
WELLS FARGO CO 4.13% 08/15/2023 US 270,000 103.62 279,776 0.09
WELLTOWER INC 4.25% 04/01/2026 US 309,000 103.23 318,979 0.10
WENDYS FUNDING LLC 3.57% 03/15/2048 US 1,333,125 98.59 1,314,275 0.41
WISCONSIN ENERGY 4.80% 05/15/2067 US 215,000 88.50 190,275 0.06
WOODSIDE FINANCE 4.50% 03/04/2029 AU 309,000 102.24 315,924 0.10
WRKCO INC 4.65% 03/15/2026 US 420,000 105.96 445,040 0.14
ZIMMER HLDGS 3.15% 04/01/2022 US 287,000 100.28 287,792 0.09
ZOETIS INC US 40,000 100.67 4,026,800 1.26
ZOETIS INC 3.25% 02/01/2023 US 139,000 101.07 140,489 0.04
US ULTRA BOND CBT JUN19 06/28/2019 US -18 168.00 -2,302 0.00
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 at Resources & Tools. 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


Investment products offered are not FDIC insured, may lose value and have no bank guarantee.

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