Touchstone Dynamic Large Cap Growth Fund (TGVFX, TGVCX, TGVYX, TGVVX, TGVLX)

Overview

Actively Managed and Sub-Advised by Los Angeles Capital Management LLC

Objective

The Fund seeks long-term capital appreciation.

Investment Style

Invests primarily in U.S. equity securities of large capitalization companies.
Employs an adaptive quantitative investment process, the Dynamic Alpha Stock Model® to build equity portfolios that adapt to market conditions.
Seeks to generate incremental returns above the benchmark while attempting to control investment risk.
Fund's portfolio will typically hold 80 - 120 securities.

Fund Facts

Fund Facts for Share Class
Symbol
CUSIP
Inception Date
Total Share Class Net Assets as of 03/31/2025
Total Fund Net Assets as of 03/31/2025	$142,995,775
Asset Class	US Equity
Benchmark	Russell 1000® Growth Index
Distribution Frequency	Annually
Portfolio Turnover Rate
Fiscal Year End
Prospectus Date	05/09/2025

Performance

Daily

as of
	NAV	NAV $ Change
Touchstone Dynamic Large Cap Growth Fund -

HISTORICAL DAILY NAV

Date*

Historical Daily NAV on
	NAV	POP
Touchstone Dynamic Large Cap Growth Fund -

as of 04/30/2025
	1 Month	3 Month	YTD	1 Year	3 Year	5 Year	10 Year	Since Inception
Touchstone Dynamic Large Cap Growth Fund - Including Sales Charge
Touchstone Dynamic Large Cap Growth Fund - Excluding Sales Charge
Russell 1000® Growth Index	1.77%	-10.15%	-8.37%	14.53%	15.60%	17.23%	15.27%	--

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 adviser 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 Equity, and Multi-Asset Funds 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 adviser 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 adviser 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.

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 adviser 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 INST 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.

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 adviser 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 R6 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, Y, INST, and R6 Shares combines the performance of an older class of shares (A Shares) from the Fund's inception, 09/29/95, with the performance since the inception date of each share class.

as of 03/31/2025
	3 Month	1 Year	3 Year	5 Year	10 Year	Since Inception
Touchstone Dynamic Large Cap Growth Fund - Including Sales Charge
Touchstone Dynamic Large Cap Growth Fund - Excluding Sales Charge
Russell 1000® Growth Index	-9.97%	7.76%	10.10%	20.09%	15.12%	--

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 adviser 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 Equity, and Multi-Asset Funds 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 adviser 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 adviser 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.

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 adviser 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 INST 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.

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 adviser 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 R6 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, Y, INST, and R6 Shares combines the performance of an older class of shares (A Shares) from the Fund's inception, 09/29/95, with the performance since the inception date of each share class.

Consider Touchstone Dynamic Large Cap Growth Fund for Your Portfolio

Touchstone Dynamic Large Cap Growth Fund invests in U.S. equity securities of large capitalization companies selected considering a range of valuation, earnings and management characteristics.

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Morningstar Rating™

Morningstar risk adjusted return as of 03/31/2025
	Overall	3 Year	5 Year	10 Year
Touchstone Dynamic Large Cap Growth Fund - Shares
Funds in Large Growth Category	1027	1027	949	745

Portfolio

Active Share

43%

Portfolio Composition

as of 03/31/2025
Composition	% of Portfolio
Equities	95.7
Cash Equivalents	4.3

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 Equity Funds and Multi-Asset Funds, the fund’s sub-adviser is the source. All holdings data is sourced from BNY Mellon Asset Servicing.

as of 03/31/2025
Sector	% of Portfolio
Information Technology	43.2
Communication Services	15.6
Health Care	11.9
Consumer Discretionary	11.1
Industrials	8.7
Financials	7.4
Consumer Staples	2.1
Energy	0.0
Materials	0.0
Utilities	0.0
Real Estate	0.0

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 details regarding country code abbreviations, please visit this page.

For the data illustrated for Touchstone Domestic Equity Funds, Morningstar is the source. For the data illustrated for Touchstone Fixed Income Funds, International Equity Funds and Multi-Asset Funds, the fund’s sub-adviser is the source. All holdings data is sourced from BNY Mellon Asset Servicing.

as of 04/30/2025
Security Description	% of Portfolio
NVIDIA Corp.	9.3
Microsoft Corp.	8.6
Apple Inc.	7.8
Amazon.com Inc.	7.2
Alphabet Inc.	7.0
Meta Platforms Inc.	4.8
Visa Inc.	4.3
Ascendis Pharma A/S	3.9
Netflix Inc.	3.4
Broadcam Inc.	2.9

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 details regarding country code abbreviations, please visit this page.

For the data illustrated for Touchstone Domestic Equity Funds, Morningstar is the source. For the data illustrated for Touchstone Fixed Income Funds, International Equity Funds and Multi-Asset Funds, the fund’s sub-adviser is the source. All holdings data is sourced from BNY Mellon Asset Servicing.

as of 03/31/2025
Security Description	Country	Shares Par Value	Current Price ($)	Market Value ($)	% of Portfolio
{name}	{country}	{sharesParValue}	{currentPriceBase}	{marketBaseValue}	{percentOfPortfolio}

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 details regarding country code abbreviations, please visit this page.

For the data illustrated for Touchstone Domestic Equity Funds, Morningstar is the source. For the data illustrated for Touchstone Fixed Income Funds, International Equity Funds and Multi-Asset Funds, the fund’s sub-adviser is the source. All holdings data is sourced from BNY Mellon Asset Servicing.

Management

Actively Managed and Sub-Advised by Los Angeles Capital Management LLC

Hal Reynolds, CFA

Investment Experience Since 1982

Career Summary
Los Angeles Capital
Wilshire Asset Management
Wilshire Associates
Mellon Bank

Education
MBA University of Pittsburgh
BA University of Virginia

Edward Rackham, Ph.D.

Investment Experience Since 2005

Career Summary
Los Angeles Capital
Wilshire Associates

Education
PhD University of Oxford
MChem University of Oxford

Daniel Arche, CFA

Investment Experience Since 2006

Career Summary
Los Angeles Capital
City National Bank

Education
BA University of Southern California

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 0.99% for Class A Shares, 1.71% for Class C Shares, 0.66% for Class Y Shares, 0.60% for Class INST Shares and 0.55% for Class R6 Shares. These expense limitations will remain in effect until at least 05/29/2026.

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

Annual Report
Commentary
Fact Sheet

Semi-Annual Report
Statement of Additional Information (SAI)

Statutory Prospectus
Summary Prospectus

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 growth stocks which may be more volatile than investing in other stocks and may underperform when value investing is in favor. The Adviser engages a sub-adviser to make investment decisions for the Fund’s portfolio; it may be unable to identify and retain a sub-adviser who achieves superior investment returns relative to other similar sub-advisers. Events in the U.S. and global financial markets, including actions taken to stimulate or stabilize economic growth may at times result in unusually high market volatility, which could negatively impact Fund performance and cause it to experience illiquidity, shareholder redemptions, or other potentially adverse effects. Banks and financial services companies could suffer losses if interest rates rise or economic conditions deteriorate. The Fund is non-diversified, which means that it may invest a greater percentage of its assets in the securities of a limited number of issuers and may be subject to greater risks. 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. The Fund may focus its investments in a particular industry and/or market sector which may increase the Fund’s volatility and magnify its effects on total return. The Fund uses proprietary statistical analyses and models to construct the portfolio, models can perform differently than the market as a whole. The Fund may be more or less exposed to a risk factor than its individual holdings. Quantitative models are subject to technical issues which could adversely affect their effectiveness or predictive value. Current and future portfolio holdings are subject to change.

Active		Closet Index		Passive
100%-80%	80%-60%	60%-40%	40%-20%	20%-0%

Active		Closet Index		Passive
100%-80%	80%-60%	60%-40%	40%-20%	20%-0%

Touchstone Dynamic Large Cap Growth Fund

Morningstar

Active Share

Active

Closet Index

Passive

Overview

Overview

Objective

Investment Style

Fund Facts

Fund Facts

Performance

Performance

Consider Touchstone Dynamic Large Cap Growth Fund for Your Portfolio

Morningstar Rating™

Morningstar Rating™

Portfolio

Portfolio

Active Share

Active

Closet Index

Passive

Management

Management

Hal Reynolds, CFA

Edward Rackham, Ph.D.

Daniel Arche, CFA

Fees

Fees

Distributions

Distributions

Resources

Resources

Consider Touchstone Dynamic Large Cap Growth Fund for Your Portfolio

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