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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 697 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 ADRs, GDRs and EDRs, 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 and 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

Symbol
CUSIP
Share Class Inception Date
Total Share Class Net Assets as of 12/31/2018
Total Fund Net Assets as of 12/31/2018 $305,658,973
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 02/28/2019 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 3.21% 1.42% 11.48% 4.68% 15.28% 10.67% 16.67% --
Bloomberg Barclays U.S. Aggregate Bond Index -0.06% 2.86% 1.00% 3.17% 1.69% 2.32% 3.71% --
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 12/31/2018 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 -4.38% 9.26% 8.49% 13.12% --
Bloomberg Barclays U.S. Aggregate Bond Index 0.01% 2.06% 2.52% 3.48% --
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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Portfolio

as of 12/31/2018
Number of Holdings
253
Weighted Average Market Capitalization
$213.4 B
Median Market Capitalization
$86.4 B
as of 12/31/2018
Composition % of Portfolio
Domestic Equity 60.2
U.S. Government Bonds 21.4
Corporate Bonds 13.0
Emerging Market Bonds 2.5
Foreign Equity 2.4
Cash Equivalents 0.5
Miscellaneous 0.0
Data may not total due to rounding.
For the data illustrated for Touchstone Domestic Equity Funds, Morningstar is the source. For the data illustrated for Touchstone Fixed Income Funds,  International/Global Equity Funds and Multi-Asset & Alternative Funds, the fund’s sub-advisor is the source. All holdings data is sourced from BNY Mellon Asset Servicing.
as of 02/28/2019
Security Description % of Portfolio
MICROSOFT CORP 4.4
BOEING CO/THE 2.8
US TREASURY N/B 2.50% 03/31/2023 2.7
APPLE INC 2.7
VISA INC-CLASS A SHARES 2.5
ALPHABET INC-CL C 2.2
TEXAS INSTRUMENTS INC 2.0
MCDONALD'S CORP 1.9
MERCK & CO. INC. 1.8
BERKSHIRE HATHAWAY INC-CL B 1.8
There is no guarantee that the Fund will continue to hold any one particular security or stay invested in any one particular sector. Holdings are subject to change. Calculations for sectors and top holdings exclude cash equivalents. Data may not total due to rounding. 
For the data illustrated for Touchstone Domestic Equity Funds, Morningstar is the source. For the data illustrated for Touchstone Fixed Income Funds,  International/Global Equity Funds and Multi-Asset & Alternative Funds, the fund’s sub-advisor is the source. All holdings data is sourced from BNY Mellon Asset Servicing.
as of 12/31/2018
Security Description
Country
Shares Par Value
Current Price ($)
Market Value ($)
% of Portfolio
ABBOTT LABS 3.75% 11/30/2026 US 114,000 98.76 112,586 0.04
ABBVIE INC 4.45% 05/14/2046 US 365,000 87.47 319,280 0.10
ACCENTURE PLC-CL A IE 30,000 141.01 4,230,300 1.39
ACTAVIS FUNDING 3.80% 03/15/2025 LU 260,000 97.62 253,818 0.08
ACTIVISION BLIZZ 4.50% 06/15/2047 US 254,000 89.71 227,861 0.07
ADAMS OUTDOOR ADVERTISING 4.81% 11/15/2048 US 399,523 102.85 410,897 0.13
AGATE BAY MORTGAGE LOAN TRUST 3.76% 10/25/2045 US 777,523 100.84 784,077 0.26
AIR CAN 2015-1A 3.60% 03/15/2027 CA 103,649 96.12 99,629 0.03
ALBERTA PROVINCE 2.20% 07/26/2022 CA 359,000 97.76 350,961 0.12
ALLERGAN SALES 5.00% 12/15/2021 US 322,000 102.89 331,306 0.11
ALLSTATE CORP 5.75% 08/15/2053 US 78,000 97.50 76,050 0.02
ALPHABET INC-CL C US 6,000 1,035.61 6,213,660 2.04
AMAZON.COM INC US 1,301 1,501.97 1,954,063 0.64
AMERICAN EXPRESS 3.00% 10/30/2024 US 440,000 95.69 421,054 0.14
AMERICAN EXPRESS CO US 25,000 95.32 2,383,000 0.78
AMERISOURCEBERGEN CORP US 23,954 74.40 1,782,178 0.58
AMGEN INC US 15,000 194.67 2,920,050 0.96
ANHEUSER-BUSCH 4.90% 02/01/2046 US 379,620 92.74 352,054 0.12
APPLE INC US 48,000 157.74 7,571,520 2.48
APPLE INC 2.75% 01/13/2025 US 899,000 96.43 866,869 0.28
APPLE INC 4.65% 02/23/2046 US 110,000 105.85 116,439 0.04
APTIV PLC 3.15% 11/19/2020 IE 105,000 99.00 103,950 0.03
ARC PROPERTIES 4.60% 02/06/2024 US 795,000 101.10 803,744 0.26
ASHTEAD CAPITAL 4.38% 08/15/2027 US 242,000 90.00 217,800 0.07
AT&T INC US 28,740 28.54 820,240 0.27
AT&T INC 3.80% 03/15/2022 US 552,000 100.44 554,407 0.18
AT&T INC 4.35% 06/15/2045 US 88,000 84.51 74,366 0.02
AUTONATION INC 5.50% 02/01/2020 US 89,000 102.18 90,940 0.03
BAHIA SUL HLDGS 5.75% 07/14/2026 AT 470,000 102.00 479,400 0.16
BANK OF AMER CRP 3.71% 04/24/2028 US 355,000 95.93 340,540 0.11
BANK OF AMER CRP 4.00% 01/22/2025 US 535,000 97.41 521,168 0.17
BANK OF MONTREAL 3.80% 12/15/2032 CA 390,000 92.60 361,140 0.12
BANK OF NY MELLO 2.95% 01/29/2023 US 449,000 98.43 441,933 0.14
BARCLAYS PLC 4.61% 02/15/2023 GB 435,000 99.16 431,329 0.14
BB&T CORPORATION 2.85% 10/26/2024 US 380,000 96.08 365,091 0.12
BECTON DICKINSON AND CO US 13,000 225.32 2,929,160 0.96
BERKSHIRE HATHAWAY INC-CL B US 27,693 204.18 5,654,357 1.85
BIOGEN INC US 5,000 300.92 1,504,600 0.49
BMW US CAP LLC 3.10% 04/12/2021 US 658,000 99.04 651,676 0.21
BOARDWALK PIPELI 4.45% 07/15/2027 US 224,000 92.33 206,820 0.07
BOEING CO/THE US 20,000 322.50 6,450,000 2.11
BOSTON PROP LP 3.20% 01/15/2025 US 390,000 95.49 372,401 0.12
BRASKEM AMERICA 7.13% 07/22/2041 US 250,000 108.45 271,125 0.09
BRISTOL-MYERS SQUIBB CO US 45,000 51.98 2,339,100 0.77
BURLINGTON NORTH 5.75% 05/01/2040 US 418,000 117.11 489,506 0.16
CANADIAN NATL RAILWAY CO CA 32,000 74.11 2,371,520 0.78
CARE CAPITAL 5.13% 08/15/2026 US 149,000 92.68 138,089 0.05
CARGILL INC 3.05% 04/19/2021 US 438,000 99.90 437,566 0.14
CARNIVAL CORP US 18,121 49.30 893,365 0.29
CELGENE CORP 5.00% 08/15/2045 US 299,000 92.47 276,480 0.09
CENOVUS ENERGY 4.25% 04/15/2027 CA 333,000 91.08 303,304 0.10
CHARTER COMM OPT 6.48% 10/23/2045 US 368,000 102.79 378,281 0.12
CHENIERE CORP CH 7.00% 06/30/2024 US 350,000 105.50 369,250 0.12
CHEVRON CORP US 20,000 108.79 2,175,800 0.71
CITIGROUP INC 3.30% 04/27/2025 US 330,000 94.97 313,387 0.10
CITIGROUP INC 4.75% 05/18/2046 US 197,000 92.45 182,118 0.06
CME GROUP INC US 18,000 188.12 3,386,160 1.11
COLOMBIA REP OF 5.00% 06/15/2045 CO 238,000 95.20 226,576 0.07
COLUMBIA PIPELIN 4.50% 06/01/2025 US 301,000 100.72 303,168 0.10
COMCAST CORP 4.00% 03/01/2048 US 232,000 91.12 211,405 0.07
COMCAST CORP-CLASS A US 120,000 34.05 4,086,000 1.34
CONAGRA BRANDS 4.85% 11/01/2028 US 336,000 98.34 330,413 0.11
COX COMMUN INC 3.35% 09/15/2026 US 267,000 92.26 246,334 0.08
CRED SUIS NY 3.63% 09/09/2024 CH 305,000 98.12 299,263 0.10
CREDIT SUISSE MORTAGE TRUST 3.85% 09/25/2057 US 828,171 101.22 838,236 0.27
CREDIT SUISSE MORTGAGE TRUST 3.86% 12/25/2044 US 883,908 99.56 880,012 0.29
CREDIT SUISSE MORTGAGE TRUST 3.94% 01/25/2045 US 778,521 97.80 761,383 0.25
CRH AMERICA FIN 4.50% 04/04/2048 US 370,000 88.89 328,882 0.11
CROWN CASTLE INT 3.65% 09/01/2027 US 403,000 92.70 373,597 0.12
CVS HEALTH CORP US 10,000 65.52 655,200 0.21
CVS HEALTH CORP 4.30% 03/25/2028 US 475,000 97.76 464,364 0.15
CVS HEALTH CORP 5.13% 07/20/2045 US 230,000 97.34 223,884 0.07
DIAMOND 1 FIN/DI 6.02% 06/15/2026 US 235,000 100.45 236,063 0.08
DOLLAR TREE 3.15% 04/17/2020 US 434,000 99.36 431,232 0.14
DOWDUPONT 4.49% 11/15/2025 US 520,000 102.96 535,380 0.18
DOWDUPONT INC US 38,460 53.48 2,056,841 0.67
DREYFUS-GOV C-IN US 1,526,163 1.00 1,526,163 0.50
DTE ENERGY CO 3.70% 08/01/2023 US 105,000 99.30 104,265 0.03
DUKE ENERGY PROG 4.15% 12/01/2044 US 237,000 97.08 230,083 0.08
EAGLE MATERIALS 4.50% 08/01/2026 US 377,000 99.29 374,308 0.12
ELEC DE FRANCE 4.50% 09/21/2028 FR 329,000 96.92 318,879 0.10
EMBRAER NL FINAN 5.05% 06/15/2025 NL 166,000 101.13 167,869 0.06
EMBRAER NL FINAN 5.40% 02/01/2027 NL 167,000 103.25 172,429 0.06
ENBRIDGE INC 3.04% 06/15/2020 CA 418,000 99.65 416,554 0.14
ENERGY TRANSFER 4.95% 06/15/2028 US 243,000 97.84 237,754 0.08
EOG RESOURCES IN 3.90% 04/01/2035 US 264,000 94.41 249,244 0.08
EOG RESOURCES INC US 25,000 87.21 2,180,250 0.71
EXPRESS SCRIPTS 3.30% 02/25/2021 US 327,000 99.63 325,800 0.11
EXXON MOBIL CORP US 38,000 68.19 2,591,220 0.85
FACEBOOK INC-CLASS A US 22,420 131.09 2,939,038 0.96
FANNIE MAE 2.50% 02/01/2032 US 1,455,886 97.70 1,422,374 0.47
FANNIE MAE 3.00% 03/01/2043 US 620,201 98.33 609,832 0.20
FANNIE MAE 3.00% 11/01/2045 US 1,850,385 97.78 1,809,238 0.59
FANNIE MAE 3.00% 11/25/2033 US 900,000 98.01 882,075 0.29
FANNIE MAE 3.00% 12/01/2042 US 957,880 98.36 942,187 0.31
FANNIE MAE 3.50% 04/01/2045 US 1,184,654 100.38 1,189,133 0.39
FANNIE MAE 3.50% 05/01/2046 US 1,953,691 100.30 1,959,566 0.64
FANNIE MAE 3.50% 09/01/2044 US 423,023 100.47 425,014 0.14
FANNIE MAE 4.50% 03/01/2041 US 750,857 104.65 785,785 0.26
FANNIE MAE 4.50% 06/01/2019 US 380 101.85 387 0.00
FANNIE MAE 5.00% 09/01/2019 US 156 101.74 159 0.00
FANNIE MAE 5.00% 09/01/2040 US 345,660 106.15 366,912 0.12
FANNIE MAE 5.50% 03/01/2033 US 1,220 105.80 1,290 0.00
FANNIE MAE 5.50% 05/01/2034 US 672,461 107.68 724,075 0.24
FANNIE MAE 5.50% 07/01/2034 US 634,408 107.70 683,272 0.22
FANNIE MAE 6.00% 11/01/2032 US 32 107.31 34 0.00
FANNIE MAE 6.00% 12/01/2033 US 68,523 103.62 71,006 0.02
FEDEX CORP 5.10% 01/15/2044 US 280,000 98.45 275,649 0.09
FIFTH THIRD BANK 2.88% 07/27/2020 US 345,000 99.42 343,010 0.11
FORD MOTOR CO 4.75% 01/15/2043 US 118,000 77.12 91,000 0.03
FORD MOTOR CRED 4.14% 02/15/2023 US 217,000 95.05 206,261 0.07
FREDDIE MAC 4.00% 04/01/2045 US 565,242 102.18 577,577 0.19
FREDDIE MAC 4.00% 10/01/2044 US 1,595,616 102.21 1,630,889 0.53
FREDDIE MAC 4.00% 10/01/2044 US 3,366,093 102.21 3,440,371 1.13
FREDDIE MAC 4.50% 08/01/2041 US 2,401,183 104.70 2,514,157 0.82
FREDDIE MAC 5.00% 05/15/2041 US 1,181,402 105.91 1,251,181 0.41
FREDDIE MAC 5.00% 06/01/2035 US 3,591 106.16 3,813 0.00
FREDDIE MAC 6.00% 12/01/2020 US 532 101.13 538 0.00
FREDDIE MAC 6.50% 10/01/2022 US 7,470 99.97 7,468 0.00
GARRETT MOTION INC US 3,500 12.34 43,190 0.01
GEN ELECTRIC CO 4.13% 10/09/2042 US 500,000 78.13 390,671 0.13
GEN MOTORS FIN 3.20% 07/13/2020 US 385,000 98.76 380,221 0.12
GEN MOTORS FIN 3.95% 04/13/2024 US 150,000 94.97 142,456 0.05
GEN MOTORS FIN 4.35% 04/09/2025 US 279,000 94.75 264,340 0.09
GENERAL DYNAMICS CORP US 14,000 157.21 2,200,940 0.72
GENERAL MILLS IN 3.20% 04/16/2021 US 205,000 99.45 203,874 0.07
GNR 2012-147 IO 0.56% 04/16/2054 US 7,420,103 3.44 255,276 0.08
GOLDMAN SACHS GP 3.49% 07/24/2023 US 440,000 97.17 427,543 0.14
GOLDMAN SACHS GP 3.69% 06/05/2028 US 150,000 92.94 139,406 0.05
GOLDMAN SACHS GP 5.25% 07/27/2021 US 350,000 103.81 363,332 0.12
GOVERNMENT NATIONAL MORTGAGE A 4.50% 09/20/2041 US 1,191,863 104.91 1,250,438 0.41
GOVERNMENT NATIONAL MORTGAGE A 4.50% 12/20/2040 US 750,000 104.35 782,615 0.26
GRUPO BIMBO SAB 4.50% 01/25/2022 MX 380,000 101.85 387,031 0.13
GS MORTGAGE SECURITIES TRUST 3.54% 01/10/2043 US 1,400,000 96.94 1,357,132 0.44
HALFMOON PARENT 4.38% 10/15/2028 US 312,000 100.56 313,741 0.10
HERTZ VEHICLE FINANCING LLC 2.65% 07/25/2022 US 1,350,000 97.91 1,321,739 0.43
HOME DEPOT INC US 8,683 171.82 1,491,913 0.49
HOME DEPOT INC 5.95% 04/01/2041 US 285,000 122.71 349,726 0.11
HONEYWELL INTERNATIONAL INC US 35,000 132.12 4,624,200 1.52
HSBC HOLDINGS 3.90% 05/25/2026 GB 335,000 95.82 320,999 0.11
HUNTINGTON BANCS 4.00% 05/15/2025 US 562,000 100.52 564,936 0.19
IMPERIAL BRANDS 4.25% 07/21/2025 GB 475,000 98.36 467,202 0.15
INTEGRYS HLDG US 2,052 23.65 48,530 0.02
INTERPUBLIC GRP 3.75% 10/01/2021 US 267,000 100.62 268,666 0.09
ISHARES JP MORGAN USD EMERGI US 49,202 103.91 5,112,580 1.68
JD.COM INC-ADR CN 59,294 20.93 1,241,023 0.41
JIMMY JOHN'S FUNDING LLC 3.61% 07/30/2047 US 839,375 99.72 837,000 0.27
JOHNSON & JOHNSON US 23,000 129.05 2,968,150 0.97
JONES LANG LASALLE INC US 7,564 126.60 957,602 0.31
JPMORGAN CHASE & CO US 39,000 97.62 3,807,180 1.25
JPMORGAN CHASE 3.21% 04/23/2024 US 350,000 96.61 338,151 0.11
JPMORGAN CHASE 3.25% 09/23/2022 US 270,000 99.21 267,856 0.09
JPMORGAN CHASE 3.51% 01/23/2029 US 425,000 94.69 402,434 0.13
KIMCO REALTY 3.13% 06/01/2023 US 202,000 96.72 195,374 0.06
KINDER MORGAN EN 3.50% 09/01/2023 US 440,000 97.14 427,403 0.14
KRAFT FOODS GROU 6.88% 01/26/2039 US 255,000 111.57 284,512 0.09
KRAFT HEINZ CO/THE US 30,000 43.04 1,291,200 0.42
KROGER CO 5.00% 04/15/2042 US 140,000 95.18 133,256 0.04
LINDE PLC GB 12,000 156.04 1,872,480 0.61
LLOYDS BK GR PLC 3.57% 11/07/2028 GB 416,000 88.95 370,042 0.12
MARATHON PETROLEUM CORP US 40,000 59.01 2,360,400 0.77
MARRIOTT INTERNATIONAL -CL A US 31,100 108.56 3,376,216 1.11
MCDONALD'S CORP US 33,000 177.57 5,859,810 1.92
MERCK & CO. INC. US 70,000 76.41 5,348,700 1.75
MICROSOFT CORP US 123,000 101.57 12,493,110 4.09
MICROSOFT CORP 3.50% 02/12/2035 US 210,000 95.44 200,425 0.07
MID-AMER APT LP 3.75% 06/15/2024 US 288,000 99.06 285,284 0.09
MIDCONTINENT EXP 6.70% 09/15/2019 US 106,000 100.94 106,994 0.04
MONSTER BEVERAGE CORP US 18,792 49.22 924,942 0.30
MOODY'S CORP 2.75% 12/15/2021 US 374,000 98.07 366,781 0.12
MORGAN STANLEY US 100,000 39.65 3,965,000 1.30
MORGAN STANLEY 3.74% 04/24/2024 US 148,000 99.15 146,740 0.05
MORGAN STANLEY 3.95% 04/23/2027 US 470,000 94.28 443,113 0.15
NEWFIELD EXPLOR 5.38% 01/01/2026 US 324,000 98.00 317,520 0.10
NEXTERA ENERGY 2.80% 01/15/2023 US 250,000 96.50 241,259 0.08
NGPL PIPECO LLC 7.77% 12/15/2037 US 89,000 114.00 101,460 0.03
NORTHWESTERN MUT 3.85% 09/30/2047 US 300,000 90.56 271,666 0.09
NOVARTIS AG-SPONSORED ADR CH 28,756 85.81 2,467,552 0.81
NXP BV/NXP FUNDI 5.35% 03/01/2026 NL 430,000 101.70 437,310 0.14
ONCOR ELECTRIC D 3.80% 09/30/2047 US 76,000 94.57 71,871 0.02
ONTARIO PROVINCE 1.88% 05/21/2020 CA 417,000 98.86 412,264 0.14
ORACLE CORP US 11,308 45.15 510,556 0.17
ORACLE CORP 2.65% 07/15/2026 US 351,000 92.68 325,293 0.11
PACIFIC GAS&ELEC 4.65% 08/01/2028 US 125,000 91.68 114,596 0.04
PACIFICORP 5.75% 04/01/2037 US 125,000 119.38 149,222 0.05
PEPSICO INC US 40,000 110.48 4,419,200 1.45
PETROLEOS MEXICA 4.50% 01/23/2026 MX 307,000 86.20 264,634 0.09
PETROLEOS MEXICA 5.35% 02/12/2028 MX 53,000 87.25 46,243 0.02
PHILIP MORRIS INTERNATIONAL US 40,000 66.76 2,670,400 0.88
PMTLT 2013-J1 3.50% 09/25/2043 US 758,232 98.94 750,170 0.25
PNC BANK NA 2.70% 11/01/2022 US 370,000 97.18 359,548 0.12
PNC FINANCIAL SERVICES GROUP US 27,000 116.91 3,156,570 1.03
PRICELINE GROUP 3.60% 06/01/2026 US 410,000 97.15 398,334 0.13
PROCTER & GAMBLE CO/THE US 40,000 91.92 3,676,800 1.20
PRUDENTIAL FIN 5.63% 06/15/2043 US 339,000 97.93 331,993 0.11
QUALCOMM INC 3.45% 05/20/2025 US 340,000 96.21 327,125 0.11
QWEST CORP 6.75% 12/01/2021 US 250,000 102.25 255,613 0.08
RESIDEO TECHNOLOGIES INC US 5,833 20.55 119,868 0.04
REYNOLDS AMERICA 4.45% 06/12/2025 US 351,000 96.42 338,446 0.11
ROYAL BK CANADA 3.20% 04/30/2021 CA 434,000 99.99 433,955 0.14
S&P GLOBAL INC US 20,000 169.94 3,398,800 1.11
SALESFORCE.COM INC US 3,733 136.97 511,309 0.17
SCHLUMBERGER LTD US 37,700 36.08 1,360,216 0.45
SEQUOIA MORTGAGE TRUST 3.50% 05/25/2045 US 853,427 97.53 832,324 0.27
SHELL INTL FIN 1.88% 05/10/2021 NL 100,000 97.40 97,399 0.03
SHERWIN-WILLIAMS 4.50% 06/01/2047 US 398,000 90.18 358,902 0.12
SIGNATURE BANK US 17,239 102.81 1,772,342 0.58
SIMON PROPERTY GROUP INC US 6,587 167.99 1,106,550 0.36
SL GREEN OPERAT 3.25% 10/15/2022 US 110,000 96.62 106,282 0.03
SPIRIT REALTY LP 4.45% 09/15/2026 US 244,000 96.07 234,405 0.08
STARBUCKS CORP US 20,393 64.40 1,313,309 0.43
STARWOOD COMMERCIAL MORTGAGE T 3.61% 05/15/2035 US 800,000 99.19 793,551 0.26
STRYKER CORP US 15,000 156.75 2,351,250 0.77
SUNTRUST BANKS 4.00% 05/01/2025 US 380,000 100.32 381,221 0.12
TELECOM ITALIA 5.30% 05/30/2024 IT 426,000 95.00 404,700 0.13
TEXAS INSTRUMENTS INC US 60,000 94.50 5,670,000 1.86
THERMO FISHER 3.60% 08/15/2021 US 270,000 100.29 270,794 0.09
TIME WARNER INC 3.80% 02/15/2027 US 287,000 93.83 269,293 0.09
TJX COMPANIES INC US 90,000 44.74 4,026,600 1.32
TOYOTA MTR CRED 2.95% 04/13/2021 US 434,000 100.02 434,065 0.14
TSY INFL IX N/B 0.75% 07/15/2028 US 5,845,000 98.60 5,763,300 1.89
TSY INFL IX N/B 1.00% 02/15/2048 US 4,870,000 97.18 4,732,429 1.55
TYSON FOODS INC 3.90% 09/28/2023 US 200,000 99.86 199,722 0.07
UNILEVER N V -NY SHARES GB 70,000 53.80 3,766,000 1.23
UNITED MEXICAN 4.35% 01/15/2047 MX 345,000 85.70 295,665 0.10
UNITED TECHNOLOGIES CORP US 22,000 106.48 2,342,560 0.77
UNITEDHEALTH GROUP INC US 20,000 249.12 4,982,400 1.63
UNITEDHEALTH GRP 2.38% 10/15/2022 US 442,000 96.93 428,433 0.14
URUGUAY 4.98% 04/20/2055 UY 140,000 95.10 133,141 0.04
US TREASURY N/B 2.50% 03/31/2023 US 14,194,000 100.01 14,195,663 4.65
US TREASURY N/B 2.50% 05/31/2020 US 2,365,000 99.91 2,362,875 0.77
US TREASURY N/B 2.88% 08/15/2028 US 3,500,000 101.55 3,554,141 1.16
US TREASURY N/B 3.00% 08/15/2048 US 164,000 99.53 163,225 0.05
US TREASURY N/B 3.13% 05/15/2048 US 120,000 101.90 122,278 0.04
VALERO ENERGY 4.35% 06/01/2028 US 286,000 99.07 283,329 0.09
VERISK ANALYTICS INC US 20,000 109.04 2,180,800 0.71
VERIZON COMM INC 4.67% 03/15/2055 US 130,000 91.83 119,379 0.04
VERIZON COMM INC 5.01% 04/15/2049 US 285,000 99.64 283,975 0.09
VERIZON COMMUNICATIONS INC US 75,000 56.22 4,216,500 1.38
VISA INC 4.15% 12/14/2035 US 297,000 103.42 307,160 0.10
VISA INC-CLASS A SHARES US 53,000 131.94 6,992,820 2.29
VULCAN MATERIALS 4.50% 04/01/2025 US 330,000 99.34 327,814 0.11
WABTEC 4.70% 09/15/2028 US 400,000 93.79 375,143 0.12
WELLS FARGO CO 2.10% 07/26/2021 US 285,000 96.88 276,102 0.09
WELLS FARGO CO 4.10% 06/03/2026 US 63,000 97.65 61,521 0.02
WELLS FARGO CO 4.13% 08/15/2023 US 270,000 100.59 271,595 0.09
WELLTOWER INC 4.25% 04/01/2026 US 309,000 99.82 308,450 0.10
WENDYS FUNDING LLC 3.57% 03/15/2048 US 1,336,508 95.83 1,280,830 0.42
WESTROCK CO 4.65% 03/15/2026 US 420,000 101.53 426,418 0.14
WISCONSIN ENERGY 4.73% 05/15/2067 US 170,000 81.59 138,705 0.05
ZIMMER HLDGS 3.15% 04/01/2022 US 287,000 97.77 280,603 0.09
ZOETIS INC US 40,000 85.54 3,421,600 1.12
ZOETIS INC 3.25% 02/01/2023 US 139,000 98.49 136,900 0.04
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

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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