Touchstone International Value Fund

Daily NAV
$
Overall Morningstar RatingTM
Foreign Large Value

Morningstar

Overall Morningstar RatingTM is calculated against 271 funds in the Foreign Large Value category.

The Morningstar RatingTM 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 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.

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
91 %

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 Barrow, Hanley, Mewhinney & Strauss, LLC

Objective

The fund seeks long-term capital growth by investing primarily in equity securities of non-U.S. companies.

International Value Fund Commentary

Investment Style

  • Stock selection is driven by fundamental securities analysis on individual companies rather than by broad market themes
  • Utilizes traditional methods of stock selection, research and analysis, to identify and search for companies that have price-to-earnings, price-to-book  and enterprise value free cash flow ratios at or below the market, and dividend yields at or above the market
  • Focuses on companies that are out of favor due to internal or external challenges judged to be short-term in nature
  • Seeks to identify the reasons for a temporary undervaluation of a company's shares and believes that value can be added through individual stock selection
  • Utilizes risk management tools in an effort to prevent overexposure to particular market segment
A WORD ABOUT RISK

The Fund invests in equities which are subject to market volatility and loss. The Fund invests in foreign securities, 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 large-cap companies which may be unable to respond quickly to new competitive challenges. 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 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 value stocks which may not appreciate in value as anticipated or may experience a decline in value. 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. Dividend issuing companies may choose not to pay a dividend or the dividend may be less than anticipated. Current and future portfolio holdings are subject to risk. The advisor engages the sub-advisor to manage the Fund's portfolio; the sub-advisor's judgment may impact the Fund's performance.

Fund Facts

Symbol
CUSIP
Share Class Inception Date
Total Share Class Net Assets as of 06/30/2018
Total Fund Net Assets as of 06/30/2018 $19,646,083
Asset Class International / Global Equity
Morningstar Category Foreign Large Value
Benchmark MSCI EAFE Value Index
Distribution Frequency Quarterly
Portfolio Turnover Rate
Fiscal Year End
Prospectus Date 07/30/2018

Performance

Daily Returns as of
NAV NAV $ Change
Touchstone International Value Fund -
HISTORICAL DAILY NAV
as of 07/31/2018 1 Month 3 Month YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Touchstone International Value Fund -
Including Sales Charge
Touchstone International Value Fund -
Excluding Sales Charge
MSCI EAFE Value Index 2.87% -2.84% -1.87% 3.78% 3.68% 4.77% 2.77% --
as of 06/30/2018 1 Year 3 Year 5 Year 10 Year Since Inception
Touchstone International Value Fund -
Including Sales Charge
Touchstone International Value Fund -
Excluding Sales Charge
MSCI EAFE Value Index 4.25% 3.30% 5.37% 2.17% --
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 Funds will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. 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 Equity Funds is 5.75%.
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 Funds will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. 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 in effect at the end of the specified period. The contingent deferred sales charge 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 Funds will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. 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 NAV, without an initial sales charge and are not subject to a 12b-1 fee or CDSC, but may be subject to higher initial investment requirements than other classes of shares of a Fund.
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 Funds 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, may lower performance. Returns are not annualized for periods of less than one year. Assumes reinvestment of all dividends and capital gains.
The performance presented for Class C, Y, and INST Shares combines the performance of an older class of shares (A Shares) from the Fund's inception, 08/18/94, with the performance since the inception date of each share class.

Consider Touchstone International Value Fund for Your Portfolio

Touchstone International Value Fund invests primarily in equity securities of non-U.S. companies believed to be undervalued. It seeks long-term capital growth for its investors.
Contact Us Now

Portfolio

as of 06/30/2018
Number of Holdings
54
Active Share
91%

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
$29.7 B
Median Market Capitalization
$14.4 B
Price Earnings Ratio
(Weighted Harmonic Average)
15.3x
Price to Book Ratio
(Weighted Harmonic Average)
1.6x
as of 06/30/2018
Composition % of Portfolio
Equities Non-U.S. Developed Markets 88.3
Equities Emerging Markets 7.9
Equities U.S. 3.2
Cash Equivalents 0.5
as of 06/30/2018
Country % of Portfolio
United Kingdom 18.7
Japan 18.3
Germany 12.7
France 8.3
Netherlands 6.5
Italy 6.1
United States 4.0
Switzerland 3.2
Colombia 2.8
Singapore 2.6
as of 06/30/2018
Sector % of Portfolio
Industrials 21.3
Financials 20.0
Energy 15.3
Consumer Discretionary 9.9
Materials 8.9
Consumer Staples 7.8
Health Care 6.5
Information Technology 4.9
Utilities 3.7
Telecommunication Services 1.7
Real Estate 0.0
as of 07/31/2018
Security Description % of Portfolio
AIRBUS SE 4.1
ECOPETROL SA-SPONSORED ADR 3.0
OCEANEERING INTL INC 2.9
BAYER AG-REG 2.8
SIEMENS AG-REG 2.7
UNITED OVERSEAS BANK LTD 2.6
COCA-COLA EUROPEAN PARTNERS 2.5
CREDIT SUISSE GROUP AG-REG 2.5
SUMITOMO CORP 2.4
JAPAN TOBACCO INC 2.4
as of 06/30/2018
Security Description
Country
Shares Par Value
Current Price ($)
Market Value ($)
% of Portfolio
AIR LIQUIDE SA FR 3,018 125.35 378,292 1.91
AIRBUS SE FR 6,535 116.69 762,601 3.85
AMP LTD AU 116,326 2.63 305,961 1.54
ARION BANKI HF-SDR IS 217,551 0.82 177,310 0.89
ARYZTA AG CH 12,025 14.96 179,869 0.91
BABCOCK INTL GROUP PLC GB 28,483 10.74 306,034 1.54
BANK OF IRELAND GROUP PLC IE 42,964 7.76 333,410 1.68
BAYER AG-REG DE 4,985 109.82 547,471 2.76
CIELO SA BR 52,660 4.27 224,866 1.13
CIMB GROUP HOLDINGS BHD MY 252,100 1.35 339,891 1.72
CNH INDUSTRIAL NV GB 33,558 10.56 354,490 1.79
COBHAM PLC GB 230,337 1.69 389,482 1.97
COCA-COLA EUROPEAN PARTNERS GB 11,696 40.64 475,325 2.40
CREDIT SUISSE GROUP AG-REG CH 29,914 14.95 447,306 2.26
CRH PLC IE 10,522 35.08 369,083 1.86
DEUTSCHE TELEKOM AG-REG DE 22,516 15.45 347,972 1.76
ECOPETROL SA-SPONSORED ADR CO 27,100 20.55 556,905 2.81
ELIOR GROUP FR 10,109 14.43 145,914 0.74
ENAGAS SA ES 11,054 29.17 322,404 1.63
ENGIE FR 24,238 15.30 370,757 1.87
ENI SPA IT 23,691 18.54 439,264 2.22
ERSTE GROUP BANK AG AT 7,753 41.69 323,222 1.63
FIAT CHRYSLER AUTOMOBILES NV GB 10,482 18.86 197,735 1.00
FORTUM OYJ FI 15,036 23.82 358,145 1.81
FUJI ELECTRIC CO LTD JP 46,480 7.60 353,067 1.78
GEA GROUP AG DE 10,254 33.68 345,337 1.74
GLAXOSMITHKLINE PLC GB 18,185 20.16 366,626 1.85
GREENE KING PLC GB 47,436 7.60 360,346 1.82
HITACHI LTD JP 59,720 7.04 420,726 2.12
HUGO BOSS AG -ORD DE 4,459 90.69 404,383 2.04
IMPERIAL BRANDS PLC GB 11,736 37.14 435,853 2.20
INPEX CORP JP 28,300 10.39 293,920 1.48
ITV PLC GB 172,145 2.29 393,565 1.99
JAPAN TOBACCO INC JP 16,200 27.95 452,732 2.29
KONINKLIJKE PHILIPS NV NL 9,078 42.37 384,617 1.94
LINDE AG - TENDER DE 1,600 237.58 380,127 1.92
MEDIATEK INC TW 33,400 9.82 327,857 1.65
OCEANEERING INTL INC US 20,104 25.46 511,848 2.58
ORIX CORP JP 21,100 15.76 332,580 1.68
RESONA HOLDINGS INC JP 57,600 5.33 306,995 1.55
RPC GROUP PLC GB 41,863 9.85 412,170 2.08
SAMSUNG SECURITIES CO LTD KR 6,751 31.21 210,723 1.06
SCHLUMBERGER LTD US 3,018 67.03 202,297 1.02
SEIBU HOLDINGS INC JP 24,300 16.84 409,205 2.07
SEVEN BANK LTD JP 120,000 3.05 366,431 1.85
SIEMENS AG-REG DE 3,751 131.76 494,217 2.49
SJM HOLDINGS LTD HK 372,000 1.24 461,366 2.33
SNAM SPA IT 51,259 4.17 213,617 1.08
STANDARD LIFE ABERDEEN PLC GB 77,453 4.28 331,666 1.67
SUMITOMO CORP JP 28,530 16.40 467,887 2.36
SUMITOMO OSAKA CEMENT CO LTD JP 50,010 4.68 234,164 1.18
TRAVIS PERKINS PLC GB 18,898 18.74 354,123 1.79
UNITED OVERSEAS BANK LTD SG 25,970 19.60 508,979 2.57
VOPAK NL 9,153 46.09 421,880 2.13
Data may not total due to rounding.
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.
For the data illustrated for Touchstone Domestic Equity Funds,  Morningstar is the source. For Russell index information,  the Frank Russell Company is the source and owner. For MSCI index information, the MSCI is the source and owner. 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. Calculations for sectors and top holdings exclude cash equivalents. All holdings data is sourced from BNY Mellon Asset Servicing.

Management

Management

Actively Managed and Sub-Advised by Barrow, Hanley, Mewhinney & Strauss, LLC
Wrighton

Randolph S. Wrighton, Jr., CFA

Investment Experience since 2002 

Career Summary 
Barrow, Hanley, Mewhinney & Strauss, LLC
University of Texas Investment Management Co.
Perry Capital
Deutsche Bank Securities 

Education 
MBA - University of Texas
BA - Vanderbilt University
TJ Carter

T.J. Carter, CFA, CPA

Investment Experience since 2004 

Career Summary 
Barrow, Hanley, Mewhinney & Strauss, LLC
Kingston Capital Management
Outpoint Capital Management
Highland Capital Management
Deloitte & Touche LLP 

Education 
MBA - Columbia Business School
BSBA - University of Arkansas
Charles Radtke

Charles F. Radtke, CFA

Investment Experience since 1994 

Career Summary 
Barrow, Hanley, Mewhinney & Strauss, LLC
Mercator Asset Management LP
Invesco Global Asset Management
Templeton Worldwilde Inc. 

Education 
MBA - University of Wisconsin-Madison
BS - Marquette 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 1.34% for Class A Shares, 2.09% for Class C Shares, 1.09% for Class Y Shares and 0.99% for Class INST Shares. These expense limitations will remain in effect until at least 07/29/2019.

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 International Value for Your Portfolio

Touchstone International Value Fund invests primarily in equity securities of non-U.S. companies believed to be undervalued. It seeks long-term capital growth for its investors.
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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