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Touchstone Emerging Markets Small Cap Fund

Touchstone Emerging Markets Small Cap Fund

Daily NAV
$
Overall Morningstar Rating™
Diversified Emerging Mkts

Morningstar

Overall Morningstar Rating™ is calculated against 708 funds in the Diversified Emerging Mkts 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.

Active Share
94 %

Active Share

Active Share measures the percentage of the Fund’s holdings that differ from those of the benchmark. It is calculated by taking the sum of the absolute difference between all of the holdings and weights in the portfolio and those of the benchmark holdings and weights and dividing the results by two.

Active
Closet Index
Passive
 100%-80%  80%-60%  60%-40% 40%-20%   20%-0%
Generally, a Fund with an active share of more than 60% is considered actively managed. Active Share is not a performance measurement. A high degree of Active Share does not assure outperformance of a fund relative to its benchmark index. 
 

Overview

Overview

Actively Managed and Sub-Advised by Copper Rock Capital Partners LLC

Objective

The fund seeks capital appreciation by investing primarily in equity securities of small-cap companies located in emerging market countries.

Emerging Market Small Cap Fund Commentary

Investment Style

  • Applies a blend of fundamental and quantitative analyses to generate initial investment ideas
  • Seeks to add value through bottom-up stock selection and in-depth fundamental research
  • Examines a company's financial condition, management team, business prospects, competitive position and overall business strategy
  • Looks for companies believed to have strong management, superior earnings growth prospects, and attractive relative valuations
A WORD ABOUT RISK

The Fund invests in equities which are subject to market volatility and loss. 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 stocks of small- and mid-cap companies, which may be subject to more erratic market movements than stocks of larger, more established companies. 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 $7,627,523
Asset Class International / Global Equity
Morningstar Category Diversified Emerging Mkts
Benchmark MSCI Emerging Markets Small Cap Index
Distribution Frequency Annually
Portfolio Turnover Rate
Fiscal Year End
Prospectus Date 01/30/2019

Performance

Daily Returns as of
NAV NAV $ Change
Touchstone Emerging Markets Small Cap 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 Emerging Markets Small Cap Fund -
Including Sales Charge
Touchstone Emerging Markets Small Cap Fund -
Excluding Sales Charge
MSCI Emerging Markets Small Cap Index 1.30% 5.03% 6.75% -14.34% 9.03% 2.00% 11.74% --
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.
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 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.
as of 12/31/2018 1 Year 3 Year 5 Year 10 Year Since Inception
Touchstone Emerging Markets Small Cap Fund -
Including Sales Charge
Touchstone Emerging Markets Small Cap Fund -
Excluding Sales Charge
MSCI Emerging Markets Small Cap Index -18.59% 3.68% 0.95% 9.87% --
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.
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 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.

Consider Touchstone Emerging Markets Small Cap Fund for Your Portfolio

Touchstone Emerging Markets Small Cap Fund invests primarily in equity securities of small-cap companies located in emerging market countries. It seeks to provide capital appreciation.
Contact Us Now

Portfolio

as of 12/31/2018
Number of Holdings
89
Active Share
94%

Active Share

Active Share measures the percentage of the Fund’s holdings that differ from those of the benchmark. It is calculated by taking the sum of the absolute difference between all of the holdings and weights in the portfolio and those of the benchmark holdings and weights and dividing the results by two.

Active
Closet Index
Passive
 100%-80%  80%-60%  60%-40% 40%-20%   20%-0%
Generally, a Fund with an active share of more than 60% is considered actively managed. Active Share is not a performance measurement. A high degree of Active Share does not assure outperformance of a fund relative to its benchmark index. 
 
Weighted Average Market Capitalization
$2.0 B
Median Market Capitalization
$1.7 B
Price To Earnings Ratio
(Weighted Harmonic Average)
10.5x
Price to Book Ratio
(Weighted Harmonic Average)
1.9x
as of 12/31/2018
Composition % of Portfolio
Equities Emerging Markets 97.7
Cash Equivalents 2.3
Equities U.S. 0.0
Equities Non-U.S. Developed Markets 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 12/31/2018
Country % of Portfolio
India 19.5
Taiwan 19.1
Korea 18.4
China 13.9
Brazil 7.4
South Africa 4.9
Thailand 4.2
Malaysia 3.0
Mexico 2.7
Hungary 1.5
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
Sector % of Portfolio
Consumer Discretionary 17.7
Information Technology 15.4
Financials 13.7
Health Care 13.1
Materials 12.2
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 02/28/2019
Security Description % of Portfolio
CHAILEASE HOLDING CO LTD 1.8
NIIT TECHNOLOGIES LTD 1.6
BANCO ESTADO RIO GRAN-PREF B 1.6
BATA INDIA LTD 1.6
AFRICAN RAINBOW MINERALS LTD 1.6
ASIA CEMENT CORP 1.6
TISCO FINANCIAL-FOREIGN 1.6
MPHASIS LTD 1.5
DINO POLSKA SA 1.5
LONKING HOLDINGS LTD 1.5
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
AFRICAN RAINBOW MINERALS LTD ZA 11,869 9.89 117,432 1.51
AIRASIA BHD MY 159,500 0.72 114,337 1.47
ALSEA SAB DE CV MX 26,300 2.61 68,575 0.88
ANTON OILFIELD SERVICES GP CN 712,000 0.10 70,954 0.91
ASIA CEMENT CORP TW 96,000 1.11 106,171 1.36
AVI LTD ZA 8,770 7.07 61,974 0.80
BAJAJ ELECTRICALS LTD IN 8,498 7.21 61,303 0.79
BANCO DEL BAJIO SA MX 27,800 1.95 54,096 0.69
BANCO ESTADO RIO GRAN-PREF B BR 19,300 5.72 110,449 1.42
BAOZUN INC-SPN ADR CN 1,797 29.21 52,490 0.67
BATA INDIA LTD IN 7,617 16.24 123,664 1.59
BIM BIRLESIK MAGAZALAR AS TR 5,063 16.44 83,227 1.07
BIOTEQUE CORPORATION TW 33,000 3.08 101,694 1.31
CHAILEASE HOLDING CO LTD TW 41,000 3.15 129,321 1.66
CHINA GENERAL PLASTICS TW 110,828 0.72 79,433 1.02
CHINA ORIENTAL GROUP CO LTD CN 104,000 0.60 61,989 0.80
CHINASOFT INTERNATIONAL LTD CN 130,000 0.50 64,725 0.83
CHOLAMANDALAM INVESTMENT AND IN 3,437 18.03 61,974 0.80
COM2US CORP KR 771 116.08 89,495 1.15
DINO POLSKA SA PL 3,620 25.68 92,962 1.19
DOUZONE BIZON CO LTD KR 1,850 46.60 86,211 1.11
DREYFUS-GOV C-IN US 69,229 1.00 69,229 0.89
ECLAT TEXTILE COMPANY LTD TW 7,000 11.31 79,161 1.02
ESCORTS LTD IN 11,354 10.10 114,724 1.47
FILA KOREA LTD KR 2,862 48.30 138,240 1.78
FLEURY SA BR 18,000 5.10 91,864 1.18
FU SHOU YUAN INTERNATIONAL CN 83,000 0.75 62,613 0.80
GOURMET MASTER CO LTD TW 1 6.70 6 0.00
GRAPE KING BIO LTD TW 15,000 6.20 92,963 1.19
GRUPO AEROPORTUARIO DEL CENT MX 17,300 4.77 82,566 1.06
GUANGZHOU R&F PROPERTIES - H CN 69,200 1.51 104,715 1.34
HEG LTD IN 1,855 52.93 98,193 1.26
HOLLYSYS AUTOMAT CN 5,428 17.51 95,044 1.22
HUNG SHENG CONSTRUCTION LTD TW 110,800 0.83 92,185 1.18
HYUNDAI MARINE & FIRE INS CO KR 1,717 36.79 63,168 0.81
INDRAPRASTHA GAS LTD IN 17,299 3.82 66,152 0.85
IOCHPE-MAXION S.A. BR 13,400 6.14 82,321 1.06
IRB BRASIL RESSEGUROS SA BR 5,400 21.53 116,283 1.49
JUBILANT FOODWORKS LTD IN 5,891 17.92 105,552 1.36
JUBILANT LIFE SCIENCES LTD IN 9,756 10.17 99,223 1.27
JUMBO SA GR 6,909 14.57 100,691 1.29
KGINICIS CO LTD KR 5,528 13.83 76,451 0.98
KIWOOM SECURITIES CO LTD KR 1,680 70.33 118,160 1.52
KOH YOUNG TECHNOLOGY INC KR 1,357 74.03 100,463 1.29
KOREA PETRO CHEMICAL IND KR 626 137.89 86,316 1.11
KRUNGTHAI CARD PCL-FOREIGN TH 131,800 0.94 123,679 1.59
L&T FINANCE HOLDINGS LTD IN 40,118 2.18 87,582 1.12
LOG COMMERCIAL PROPERTIES E BR 1,984 4.65 9,225 0.12
LONKING HOLDINGS LTD CN 379,000 0.26 97,923 1.26
MAANSHAN IRON & STEEL-H CN 154,000 0.44 67,942 0.87
MALAYSIA AIRPORTS HLDGS BHD MY 57,100 2.03 115,666 1.49
MEDY-TOX INC KR 114 519.67 59,413 0.76
MEGA LIFESCIENCES PCL TH 103,100 0.88 91,044 1.17
MICRO-STAR INTERNATIONAL CO TW 40,000 2.49 99,531 1.28
MODETOUR NETWORK INC KR 5,205 21.58 112,345 1.44
MPHASIS LTD IN 8,866 14.58 129,311 1.66
MRV ENGENHARIA BR 27,500 3.19 87,699 1.13
MUANGTHAI CAPITAL PCL TH 87,500 1.51 131,868 1.69
NATIONAL ALUMINIUM CO LTD IN 106,518 0.94 100,313 1.29
NIIT TECHNOLOGIES LTD IN 6,692 16.46 110,127 1.41
NOTRE DAME INTERMED PAR SA BR 8,300 7.50 62,275 0.80
ORION CORP/REPUBLIC OF KOREA KR 935 107.25 100,276 1.29
PHILLIPS CARBON BLACK LTD IN 18,773 2.96 55,523 0.71
POWERTECH TECHNOLOGY INC TW 45,000 2.15 96,742 1.24
QUALITY HOUSES PCL TH 1,172,100 0.08 94,430 1.21
RADIANT OPTO-ELECTRONICS COR TW 31,000 2.76 85,596 1.10
RADICO KHAITAN LTD IN 18,141 5.73 103,894 1.33
RBL BANK LTD IN 12,503 8.24 102,981 1.32
RICHTER GEDEON NYRT HU 5,894 19.37 114,165 1.47
SAPPI LIMITED ZA 21,382 5.68 121,344 1.56
SHINSEGAE INTERNATIONAL INC KR 487 175.03 85,238 1.09
SILICON WORKS CO LTD KR 2,880 30.20 86,989 1.12
SIMPLO TECHNOLOGY CO LTD TW 11,000 6.78 74,584 0.96
SOULBRAIN CO LTD KR 1,274 42.71 54,412 0.70
SSY GROUP LTD HK 100,000 0.74 74,199 0.95
STERLITE TECHNOLOGIES LTD IN 14,855 4.20 62,428 0.80
SUNNY FRIEND ENVIRONMENTAL T TW 8,000 6.59 52,759 0.68
SUNONWEALTH ELECTRIC MACHINE TW 62,000 1.21 75,100 0.96
TAIDOC TECHNOLOGY CORP TW 28,000 5.72 160,201 2.06
TCI CO LTD TW 7,045 16.83 118,556 1.52
TCS GROUP HOLDING -REG S CY 4,232 15.56 65,850 0.85
TIANNENG POWER INTL LTD CN 88,000 0.83 73,378 0.94
TRUWORTHS INTERNATIONAL LTD ZA 11,581 6.12 70,821 0.91
VALUE ADDED TECHNOLOGY CO LT KR 3,989 19.41 77,441 0.99
WEST CHINA CEMENT LTD CN 568,000 0.14 77,037 0.99
XIABUXIABU CATERING MANAGEME CN 42,500 1.56 66,441 0.85
YICHANG HEC CHANGJIANG PHA-H CN 18,600 3.34 62,165 0.80
YOUNGONE CORP KR 1,746 34.37 60,010 0.77
YUZHOU PROPERTIES CO CN 240,000 0.41 99,050 1.27
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 Copper Rock Capital Partners LLC
Stephen Dexter

Stephen Dexter

Investment Experience since 1984 

Career Summary 
Copper Rock Capital Partners LLC
Putnam Investments
Scudder Kemper Investments
Kemper Financial Services
Sears Investment Management 

Education 
MBA - University of Wisconsin
BA - University of Wisconsin
H David Shea

H. David Shea, CFA

Investment Experience since 1989 

Career Summary 
Copper Rock Capital Partners LLC
Putnam Investments
Citigroup Asset Management
Independence Investment Associates
Boston International Advisors Inc
MFS Investment Management 

Education 
BA - Tufts 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 1.69% for Class A Shares, 2.44% for Class C Shares, 1.44% for Class Y Shares and 1.29% for Class INST Shares. These expense limitations will remain in effect until at least 01/29/2020.

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 Emerging Markets Small Cap Fund for Your Portfolio

Touchstone Emerging Markets Small Cap Fund invests primarily in equity securities of small-cap companies located in emerging market countries. It seeks to provide capital appreciation.
Contact Us Now

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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