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Touchstone International Value Fund

Touchstone International Value Fund

Daily NAV
$
Overall Morningstar Rating™
Foreign Large Value

Morningstar

Overall Morningstar Rating™ is calculated against 273 funds in the Foreign Large Value 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
93 %

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 securities of 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 segments
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 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 $18,110,350
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 02/28/2019 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 1.66% 3.16% 8.47% -7.92% 9.38% 0.65% 8.92% --
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 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.
as of 12/31/2018 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 -14.78% 2.82% -0.61% 5.50% --
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 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 12/31/2018
Number of Holdings
51
Active Share
93%

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
$24.4 B
Median Market Capitalization
$12.0 B
Price To Earnings Ratio
(Weighted Harmonic Average)
13.2x
Price to Book Ratio
(Weighted Harmonic Average)
1.3x
as of 12/31/2018
Composition % of Portfolio
Equities Non-U.S. Developed Markets 85.3
Equities Emerging Markets 6.8
Cash Equivalents 4.1
Equities U.S. 3.9
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
Japan 21.5
United Kingdom 18.7
France 12.4
Germany 8.6
Netherlands 8.1
Italy 6.7
United States 3.1
Singapore 3.0
Malaysia 2.2
Switzerland 2.2
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
Industrials 24.2
Financials 19.5
Energy 13.2
Consumer Discretionary 9.1
Consumer Staples 8.0
Materials 7.9
Utilities 6.5
Information Technology 4.2
Health Care 3.7
Communication Services 3.6
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 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
AIRBUS SE 4.7
COBHAM PLC 3.9
VOPAK 2.9
UNITED OVERSEAS BANK LTD 2.8
COCA-COLA EUROPEAN PARTNERS 2.8
TRAVIS PERKINS PLC 2.7
LINDE PLC 2.7
ELIOR GROUP 2.6
JAPAN TOBACCO INC 2.6
IMPERIAL BRANDS PLC 2.6
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
AIR LIQUIDE SA FR 3,528 124.18 438,092 2.43
AIRBUS SE FR 7,623 95.34 726,776 4.03
ARION BANKI HF-SDR IS 257,756 0.58 150,618 0.84
BANK OF IRELAND GROUP PLC IE 47,531 5.56 264,355 1.47
CGG SA FR 77,564 1.32 102,349 0.57
CI FINANCIAL CORP CA 12,700 12.66 160,750 0.89
CIMB GROUP HOLDINGS BHD MY 277,000 1.38 382,481 2.12
CNH INDUSTRIAL NV GB 39,234 9.04 354,491 1.97
COBHAM PLC GB 466,663 1.25 581,839 3.23
COCA-COLA EUROPEAN PARTNERS GB 10,955 45.85 502,287 2.78
CREDIT SUISSE GROUP AG-REG CH 34,914 10.93 381,669 2.12
DEUTSCHE TELEKOM AG-REG DE 19,620 17.00 333,476 1.85
DREYFUS-GOV C-IN US 654,606 1.00 654,606 3.63
ECOPETROL SA-SPONSORED ADR CO 16,593 15.88 263,497 1.46
ELIOR GROUP FR 33,876 14.96 506,892 2.81
ENAGAS SA ES 6,213 27.03 167,950 0.93
ENEL SPA IT 66,658 5.80 386,433 2.14
ENGIE FR 27,067 14.37 388,897 2.16
ENI SPA IT 11,726 15.80 185,238 1.03
FORTUM OYJ FI 16,596 21.89 363,276 2.01
FUJI ELECTRIC CO LTD JP 5,653 29.45 166,495 0.92
GEA GROUP AG DE 13,695 25.75 352,587 1.95
GLAXOSMITHKLINE PLC GB 12,555 19.06 239,273 1.33
GREENE KING PLC GB 52,149 6.73 351,055 1.95
HITACHI LTD JP 13,544 26.51 359,055 1.99
HUGO BOSS AG -ORD DE 5,488 61.64 338,304 1.88
IMPERIAL BRANDS PLC GB 14,401 30.35 437,095 2.42
INPEX CORP JP 31,600 8.86 280,002 1.55
ITV PLC GB 189,254 1.59 301,229 1.67
JAPAN TOBACCO INC JP 19,000 23.76 451,461 2.50
KONINKLIJKE PHILIPS NV NL 11,602 35.06 406,761 2.26
LINDE PLC DE 2,881 158.74 457,341 2.54
MEDIATEK INC TW 50,100 7.44 372,869 2.07
NABTESCO CORP JP 12,100 21.65 261,976 1.45
OCEANEERING INTL INC US 22,780 12.10 275,638 1.53
ORIX CORP JP 24,500 14.61 357,992 1.98
RESONA HOLDINGS INC JP 65,500 4.80 314,170 1.74
RPC GROUP PLC GB 30,385 8.31 252,601 1.40
SAMSUNG SECURITIES CO LTD KR 7,422 28.28 209,892 1.16
SCHLUMBERGER LTD US 7,369 36.08 265,874 1.47
SEIBU HOLDINGS INC JP 26,700 17.39 464,406 2.57
SEVEN BANK LTD JP 132,200 2.85 377,384 2.09
SIEMENS AG-REG DE 4,248 111.60 474,084 2.63
SJM HOLDINGS LTD HK 409,000 0.93 380,007 2.11
SNAM SPA IT 56,660 4.38 248,078 1.38
STANDARD LIFE ABERDEEN PLC GB 83,351 3.27 272,920 1.51
SUMITOMO CORP JP 32,330 14.19 458,723 2.54
SUMITOMO OSAKA CEMENT CO LTD JP 5,601 41.04 229,876 1.27
TRAVIS PERKINS PLC GB 26,772 13.63 364,988 2.02
UNITED OVERSEAS BANK LTD SG 28,570 18.09 516,831 2.87
VOPAK NL 11,043 45.35 500,782 2.78
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 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

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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