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Touchstone International Growth Opportunities Fund

(formerly the Global Growth Fund)

Daily NAV
$
Overall Morningstar Rating™
Foreign Large Growth

Morningstar

Overall Morningstar Rating™ is calculated against 373 funds in the Foreign Large Growth 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
96 %

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 DSM Capital Partners LLC

Objective

The fund seeks long-term capital appreciation.

International Growth Opportunities Fund Commentary

Investment Style

  • Invests primarily in international equity securities of large capitalization companies believed to offer the best opportunity for reliable growth at attractive stock valuations
  • Utilizes a bottom-up idea-driven growth style with a long-term investment horizon, coupled with a distinct valuation discipline
  • Seeks to identify companies which are believed to exhibit certain quality characteristics, including:
    - Predictable growth
    - Solid fundamentals
    - Attractive profitability
    - Successful managements
A WORD ABOUT RISK

The Fund invests in equities which are subject to market volatility and loss. 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 Fund invests in convertible securities which are subject to the risks of both debt securities and equity securities. The Fund invests in preferred stocks which are relegated below bonds for payment should the issuer be liquidated. The fixed dividend may be less attractive in a rising interest rate market. The Fund invests in foreign securities, including depositary receipts, such as American Depositary Receipts, Global Depositary Receipts, and European Depositary Receipts, which carry the associated risks of economic and political instability, market liquidity, currency volatility and differences in accounting standards including those of certain European countries that may have the potential to leave the European Union. The Fund invests in foreign securities, including depositary receipts, such as American Depositary Receipts, Global Depositary Receipts, and European Depositary Receipts, which carry the associated risks of economic and political instability, market liquidity, currency volatility and differences in accounting standards including those of certain European countries that may have the potential to leave the European Union. The Fund may focus its investments in specific sectors and therefore be susceptible to positive or negative developments in the sector which may increase the Fund’s volatility and magnify its effects on total return. 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 than a diversified fund and may be subject to greater risks. 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 $34,580,072
Asset Class International / Global Equity
Morningstar Category Foreign Large Growth
Benchmark MSCI All Country World Ex-U.S. Index
Distribution Frequency Annually
Portfolio Turnover Rate
Fiscal Year End
Prospectus Date 10/30/2018

Performance

Daily Returns as of
NAV NAV $ Change
Touchstone International Growth Opportunities Fund -
HISTORICAL DAILY NAV
as of 05/31/2019
1 Month 3 Month YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Touchstone International Growth Opportunities Fund -
Including Sales Charge
Touchstone International Growth Opportunities Fund -
Excluding Sales Charge
MSCI All Country World Ex-U.S. Index -5.37% -2.29% 7.15% -6.26% 6.72% 1.31% 5.80% --
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.
The performance presented for Class A, C and Y Shares combines the performance of an older class of shares (INST Shares) from the Fund's inception, 03/28/12, with the performance since the inception date of each share class.
as of 03/31/2019
1 Year 3 Year 5 Year 10 Year Since Inception
Touchstone International Growth Opportunities Fund -
Including Sales Charge
Touchstone International Growth Opportunities Fund -
Excluding Sales Charge
MSCI All Country World Ex-U.S. Index -4.22% 8.09% 2.57% 8.85% --
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.
The performance presented for Class A, C and Y Shares combines the performance of an older class of shares (INST Shares) from the Fund's inception, 03/28/12, with the performance since the inception date of each share class.

Consider Touchstone International Growth Opportunities Fund for Your Portfolio

Touchstone International Growth Opportunities Fund seeks to provide long-term capital appreciation by investing primarily in international equity securities of large capitalization companies believed to offer the best opportunity for reliable growth at attractive stock valuations.
Contact Us Now

Morningstar Rating™

Portfolio

as of 03/31/2019
Number of Holdings
32
Active Share
96%

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
$109.2 B
Median Market Capitalization
$14.8 B
Price To Earnings Ratio
(Weighted Harmonic Average)
28.7x
Price to Book Ratio
(Weighted Harmonic Average)
4.4x
as of 03/31/2019
Composition % of Portfolio
Equities Emerging Markets 63.5
Equities Non-U.S. Developed Markets 36.0
Cash Equivalents 0.5
Equities U.S. 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 03/31/2019
Country % of Portfolio
China 49.5
France 11.2
Switzerland 5.8
Japan 5.6
India 5.2
Singapore 4.5
Israel 3.5
Germany 3.4
Brazil 3.0
Russia 2.8
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
Sector % of Portfolio
Communication Services 26.5
Consumer Discretionary 17.6
Information Technology 16.9
Consumer Staples 13.2
Industrials 12.8
Financials 9.4
Health Care 3.0
Real Estate 0.0
Utilities 0.0
Energy 0.0
Materials 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 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 05/31/2019
Security Description % of Portfolio
ALIBABA GROUP HOLDING-SP ADR 8.5
TENCENT HOLDINGS LTD 7.1
HDFC BANK LTD-ADR 5.9
NEW ORIENTAL EDUCATIO-SP ADR 5.3
RECRUIT HOLDINGS CO LTD 4.7
NICE LTD - SPON ADR 4.3
DBS GROUP HOLDINGS LTD 4.2
WULIANGYE YIBIN CO LTD-A 4.1
SAFRAN SA 3.8
SONOVA HOLDING AG-REG 3.7
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
51JOB INC-ADR CN 5,160 77.88 401,861 1.08
58.COM INC-ADR CN 8,600 65.68 564,848 1.52
ALIBABA GROUP HOLDING-SP ADR CN 19,970 182.45 3,643,527 9.84
AUTOHOME INC-ADR CN 14,425 105.12 1,516,356 4.09
BAIDU INC - SPON ADR CN 6,080 164.85 1,002,288 2.71
CAPGEMINI SE FR 10,825 121.34 1,313,531 3.55
COCA-COLA HBC AG-DI CH 29,700 34.10 1,012,751 2.73
DALI FOODS GROUP CO LTD CN 1,290,500 0.75 965,004 2.61
DBS GROUP HOLDINGS LTD SG 83,800 18.67 1,564,284 4.22
GLOBANT SA LU 13,605 71.40 971,397 2.62
HDFC BANK LTD-ADR IN 16,670 115.91 1,932,220 5.22
HEXAGON AB-B SHS SE 18,685 52.26 976,527 2.64
KWEICHOW MOUTAI CO LTD-A CN 7,000 126.83 887,817 2.40
MAGAZINE LUIZA SA BR 13,900 43.87 609,735 1.65
MAIL.RU GROUP-GDR REGS RU 21,245 24.76 526,026 1.42
NEW ORIENTAL EDUCATIO-SP ADR CN 21,670 90.09 1,952,250 5.27
NEXON CO LTD JP 28,100 15.73 441,910 1.19
NICE LTD - SPON ADR IL 10,665 122.51 1,306,569 3.53
PAGSEGURO DIGITAL LTD-CL A BR 16,355 29.85 488,197 1.32
RECRUIT HOLDINGS CO LTD JP 51,600 28.67 1,479,396 3.99
SAFRAN SA FR 13,530 137.06 1,854,440 5.01
SAP SE DE 6,710 115.61 775,710 2.09
SONOVA HOLDING AG-REG CH 5,825 198.17 1,154,339 3.12
TENCENT HOLDINGS LTD CN 59,825 45.99 2,751,220 7.43
TENCENT MUSIC ENTERTAINM-ADR CN 35,685 18.10 645,899 1.74
THAI BEVERAGE PCL TH 1,014,700 0.62 633,236 1.71
THALES SA FR 8,625 119.81 1,033,367 2.79
TONGCHENG-ELONG HOLDINGS LTD CN 206,800 2.22 459,888 1.24
WEIBO CORP-SPON ADR CN 28,045 61.99 1,738,510 4.69
WIRECARD AG DE 4,060 125.62 510,031 1.38
WULIANGYE YIBIN CO LTD-A CN 99,328 14.12 1,402,267 3.79
YANDEX NV-A NL 15,255 34.34 523,857 1.41
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 DSM Capital Partners LLC
Daniel Strickberger

Daniel Strickberger

Investment Experience since 1982

Career Summary 
DSM Capital Partners LLC
W.P. Stewart & Co.
Lazard Freres & Co.
Oppenheimer & Co.
Bank of Tokyo
Morgan Guaranty 

Education 
MBA - Finance & International Business, New York University
BS - Business Administration & Finance, University of Delaware

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 1.24% for Class A Shares, 1.99% for Class C Shares, 0.99% for Class Y Shares and 0.89% for Class INST Shares. These expense limitations will remain in effect until at least 10/29/2019.

Distribution

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 International Growth Opportunities Fund for Your Portfolio

Touchstone International Growth Opportunities Fund seeks to provide long-term capital appreciation by investing primarily in international equity securities of large capitalization companies believed to offer the best opportunity for reliable growth at attractive stock valuations.
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 on the resources section or call Touchstone at 800-638-8194. Please read the prospectus and/or summary prospectus carefully before investing.

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

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

Not FDIC Insured | No Bank Guarantee | May Lose Value

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