Touchstone Merger Arbitrage Fund

Touchstone Merger Arbitrage Fund

Daily NAV
$
Overall Morningstar RatingTM
Market Neutral

Morningstar

Overall Morningstar RatingTM is calculated against 122 funds in the Market Neutral 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 Morningstar RatingTM 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.

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.

Overview

Overview

Actively Managed and Sub-Advised by Longfellow Investment Management Co., LLC 

Objective

The fund seeks to achieve positive absolute returns regardless of market conditions over the long-term by investing primarily in securities of companies that are involved in publicly announced mergers and other corporate reorganizations.

Touchstone Merger Arbitrage Fund Commentary

Investment Style

  • Primarily buys securities of companies being acquired in publicly announced transactions where the terms of the transaction have been defined and disclosed
  • Seeks to capture the arbitrage spread represented by the difference in the market price of the securities of the target company and the value that is offered for these securities by the acquiring company
  • Analyzes a number of factors when selecting securities including proposed financing terms, the size of the transaction, anti-trust concerns, regulatory approvals, and shareholder voting requirements
  • Invests across the entire market-capitalization spectrum with an emphasis on small- and mid-cap companies
  • May invest in a variety of fixed-income securities dependent upon the level of corporate restructuring activity, the market or other conditions
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 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 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 companies that are or expected to be the subject of a publicly announced transaction that may not be completed or may be completed on less favorable terms than originally expected. 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 convertible securities which are subject to the risks of both debt securities and equity securities. The Fund invests in debt securities which can lose their value as interest rates rise and are subject to credit risk which is the risk of deterioration in the financial condition of an issuer and/or general economic conditions that can cause the issuer to not make timely payments of principal and interest also causing the securities to decline in value and an investor can lose principal. When interest rates rise, the price of debt securities generally falls. Longer term securities are generally more volatile. The Fund invests in non-investment grade debt securities which are considered speculative with respect to the issuers' ability to make timely payments of interest and principal, may lack liquidity and has had more frequent and larger price changes than other debt securities. The Fund invests in other investment companies such as closed-end funds and ETFs which are subject to substantially the same risks as those associated with the direct ownership of the securities comprising the portfolios; however, the price movements of the investment companies may not track the underlying securities or market index; the value of their shares may be lower than the value of the portfolio securities, and may be illiquid and shareholders will bear, indirectly, the additional expenses of investing in other investment companies. The Fund is involved in short selling which may result in additional costs associated with covering short positions and a possibility of unlimited loss. The Fund invests in restricted securities which may have reduced liquidity and prices that reflect a discount from the market price of comparable securities for which a liquid trading market exists. 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 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. 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 $73,700,226
Asset Class Multi-Asset / Alternative
Morningstar Category Market Neutral
Benchmark ICE BofA Merrill Lynch 3-Month U.S. Treasury Bill Index
Distribution Frequency Annually
Portfolio Turnover Rate
Fiscal Year End
Prospectus Date 01/30/2019

Performance

Daily Returns as of
NAV NAV $ Change
Touchstone Merger Arbitrage Fund -
HISTORICAL DAILY NAV
as of 01/31/2019 1 Month 3 Month YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Touchstone Merger Arbitrage Fund -
Including Sales Charge
Touchstone Merger Arbitrage Fund -
Excluding Sales Charge
ICE BofA Merrill Lynch 3-Month U.S. Treasury Bill Index 0.20% 0.59% 0.20% 1.95% 1.08% 0.67% 0.40% --
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 Merger Arbitrage Fund -
Including Sales Charge
Touchstone Merger Arbitrage Fund -
Excluding Sales Charge
ICE BofA Merrill Lynch 3-Month U.S. Treasury Bill Index 1.87% 1.02% 0.63% 0.38% --
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 Merger Arbitrage Fund For Your Portfolio

Touchstones Merger Arbitrage Fund seeks to achieve positive absolute returns regardless of market conditions over the long-term by investing primarily in securities of companies that are involved in publicly announced mergers and other corporate reorganizations.
Contact Us Now

Portfolio

as of 12/31/2018
New Deals for the Quarter
22
Closed Deals for the Quarter
17
Number of Long Holdings
114
Number of Short Holdings
16
as of 01/31/2019
Security Description % of Portfolio
COLLIER CREEK HOLDINGS 4.0
GORES HOLDINGS III INC 3.5
PURE ACQUISITION CORP 3.5
CAPITOL INVESTMENT CORP IV 3.1
SPARTAN ENERGY ACQUISITION C 3.0
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 01/31/2019
Security Description % of Portfolio
SIRIUS XM HOLDINGS INC -1.8
CIGNA CORP -1.5
UNITED TECHNOLOGIES CORP -1.3
CVS HEALTH CORP -1.1
SPDR S&P OIL & GAS EXP & PR -0.9
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 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
ALLEGRO MERGER CORP US 56,865 10.10 574,337 0.78
ALTA MESA HLDGS 7.88% 12/15/2024 US 450,000 62.00 279,000 0.38
ALTA MESA RESOURCES INC-A US 164,499 0.08 13,900 0.02
ALTUS MIDS-CW23 US 162,015 0.66 106,930 0.15
ALTUS MIDSTREAM CO -A US 62,852 7.73 485,846 0.66
AMCI ACQUISITION CORP US 157,500 9.95 1,567,125 2.13
APPTIO INC - CLASS A US 18,000 37.96 683,280 0.93
ARRIS INTERNATIONAL PLC US 40,400 30.57 1,235,028 1.68
ARYA SCIENCES ACQUISITION CO US 34,103 10.10 344,440 0.47
ATHENAHEALTH INC US 8,500 131.93 1,121,405 1.52
AVISTA HE-CW21 US 304,682 0.15 45,702 0.06
BIG ROCK PA-CW22 US 45,200 0.38 17,370 0.02
BIG ROCK PARTNERS ACQUIS-RTS US 88,400 0.36 31,824 0.04
BLACK RIDGE ACQU CORP-RTS US 68,895 0.39 26,869 0.04
BLACK RIDGE-CW US 109,420 0.30 32,826 0.04
CAPITOL INVESTMENT CORP IV US 205,043 10.32 2,116,044 2.87
CF FINANCE ACQUISITION CORP US 168,789 10.00 1,687,890 2.29
CHASERG TECHNOLOGY ACQUISITI US 82,815 9.93 822,353 1.12
CHURCHILL CAPITAL CORP US 250,600 10.12 2,536,072 3.44
CIGNA (NEW) US 5,355 189.92 1,016,984 1.38
COLLIER CREEK HOLDINGS US 277,000 10.00 2,770,000 3.76
CONCRETE PUMPING WTS US 44,551 0.78 34,750 0.05
CONSTEL ALP-CW22 US 399,207 0.11 41,917 0.06
CONSTELLATION ALP CAPIT - R US 180,707 0.17 31,082 0.04
CONSUMER DISCRETIONARY SELT US 420 99.01 41,584 0.06
CORESTATES CAPTL 3.19% 02/15/2027 US 500,000 87.00 435,000 0.59
DD3 ACQUISITION CORP MX 63,524 10.02 636,510 0.86
DFB HEALTHCARE ACQUISITIONS US 82,695 10.10 835,220 1.13
DREYFUS-GOV C-IN US 3,880 1.00 3,880 0.01
FAR POINT ACQUISITION CORP US 204,641 10.05 2,056,642 2.79
FEDERAL ACQ-CW22 US 197,185 0.61 120,086 0.16
FINTECH ACQUISITION CORP III US 100,179 10.03 1,004,795 1.36
FORUM MERGER II CORP US 43,664 10.08 440,133 0.60
GIGCAPITAL INC-UNIT US 102,975 10.57 1,088,446 1.48
GORES HOLDINGS III INC US 249,990 10.00 2,499,900 3.39
GORES HOLDINGS WTS EXP 3/6 US 64,482 1.85 119,292 0.16
GRAF INDUSTRIAL CORP US 150,917 9.95 1,501,624 2.04
GS ACQUISITION HOLDINGS- A US 54,922 9.80 538,236 0.73
GS ACQUISITION HOLDINGS CORP US 135,609 10.25 1,389,992 1.89
GTY TECHNO US 88,638 0.78 69,049 0.09
GTY TECHNOLOGY HOLDINGS IN-A US 56,067 9.95 557,867 0.76
HAYMAKER ACQUISITION CORP US 311,147 10.55 3,282,601 4.45
HEALTH CARE SELECT SECTOR US 423 86.51 36,594 0.05
INDUSTRIAL SELECT SECT SPDR US 156 64.41 10,048 0.01
INTL SPEEDWAY CORP-CL A US 6,349 43.86 278,467 0.38
JPMORGAN CHASE 3.75% 09/30/2034 US 500,000 88.00 440,000 0.60
LEGACY ACQU-CW22 US 117,836 0.33 39,004 0.05
LEGACY ACQUISITION CORP US 222,218 10.18 2,262,179 3.07
LEISURE ACQUISITION CORP US 60,000 10.10 606,000 0.82
LENNAR CORP - B SHS US 607 31.33 19,017 0.03
LEO HOLDINGS CORP GB 125,411 10.19 1,277,938 1.73
MAGNOLIA OIL & GAS CORP US 100,648 11.21 1,128,264 1.53
MAGNOLIA OIL & GAS CORP US 47,131 3.03 142,807 0.19
MAGNOLIA OIL 6.00% 08/01/2026 US 2,000,000 96.50 1,930,000 2.62
MATLIN AND -CW21 US 131,683 0.60 79,010 0.11
MEDIA GENERAL INC CVR US 208,090 0.10 20,809 0.03
MODERN MEDIA ACQUISITION COR US 81,915 10.40 851,916 1.16
MOSAIC ACQUISITION CORP US 399,268 10.12 4,040,592 5.48
MUDRICK CAPITAL ACQUISITION US 110,386 10.10 1,114,899 1.51
NEBULA ACQUISITION CORP US 152,009 10.02 1,523,130 2.07
NRC GROUP HLDGS US 19,200 100.00 1,920,000 2.61
NRC GROUP HOLDINGS CORP US 62,965 7.65 481,682 0.65
NRC GROUP HOLDINGS CORP US 159,597 0.81 129,274 0.18
ONE MADISON CORP US 180,888 10.38 1,877,617 2.55
PANDORA MEDIA INC US 146,439 8.09 1,184,692 1.61
PENSARE ACQUI-CW US 127,703 0.20 25,541 0.03
PENSARE ACQUISITION CORP US 6 10.13 61 0.00
PENSARE ACQUISITION CORP-RTS US 215,786 0.29 62,578 0.08
PLATINUM EAGLE A US 8,037 1.30 10,448 0.01
PLATINUM EAGLE ACQUISITION C US 107,729 10.28 1,107,454 1.50
PURE ACQUISITION CORP US 284,527 10.30 2,930,628 3.98
REAL ESTATE SELECT SECT SPDR US 1,115 31.00 34,565 0.05
REEBONZ HOLDING LTD US 6,232 2.08 12,962 0.02
REEBONZ WT EXP: 2023 US 36,171 0.19 6,836 0.01
REGALWOOD -CW22 US 48,790 1.00 48,790 0.07
REGALWOOD GLOBAL ENERGY LTD US 111,423 10.18 1,134,286 1.54
RHT1/25C1850US 01/25/2019 US 140 0.00 0 0.00
SABAN CAPITAL ACQUISITION US 192,917 0.60 115,750 0.16
SABAN CAPITAL ACQUISITION-A US 50,241 10.09 506,932 0.69
SCHULTZE SPECIAL PURPOSE ACQ US 125,000 9.95 1,243,750 1.69
SENTINEL EN-CW22 US 106,096 0.83 88,060 0.12
SENTINEL ENERGY SERVICE-CL A US 1 10.02 10 0.00
SOCIAL CAPI-CW22 US 109,863 0.66 72,510 0.10
SOCIAL CAPITAL HEDOSOPHIA HO US 192,344 10.23 1,967,679 2.67
SPARTAN ENERGY ACQUISITION C US 214,170 10.00 2,141,700 2.91
SPARTON CORP US 44,003 18.19 800,415 1.09
SPDR S&P 500 ETF TRUST US 17,900 249.92 4,473,568 6.07
SPY12/31P2550US 01/03/2019 US 90 6.50 58,500 0.08
SPY12/31P2770US 01/03/2019 US 90 28.01 252,090 0.34
TECHNOLOGY SELECT SECT SPDR US 1,947 61.98 120,675 0.16
TESARO INC US 17,310 74.25 1,285,268 1.74
THUNDER BRIDGE A US 176,334 0.35 61,717 0.08
TIBERIUS ACQUISITION CORP US 34,683 10.00 346,830 0.47
TKK SYMPHONY ACQUISITION COR HK 84,317 10.00 843,170 1.14
TPG PACE HOLD-CW US 165,461 1.04 172,079 0.23
TPG PACE HOLDINGS CORP US 19,500 10.42 203,190 0.28
TPG PACE HOLDINGS CORP-CL A US 162,270 10.00 1,622,700 2.20
TRIBUNE MEDIA CO - A US 47,979 45.38 2,177,287 2.95
TRINITY MER-CW23 US 186,000 0.40 73,470 0.10
TWELVE SEAS INVESTMENT CO GB 73,758 10.05 741,268 1.01
TWENTY-FIRST CENTURY FOX - B US 37,013 47.78 1,768,481 2.40
UNIVERSAL HOSP 7.63% 08/15/2020 US 729,000 99.25 723,533 0.98
USG CORP US 11,990 42.66 511,493 0.69
USG CORP 4.88% 06/01/2027 US 648,000 100.75 652,860 0.89
VANTAGE ENE-CW24 US 164,570 0.47 77,348 0.10
VANTAGE ENERGY ACQUISITION C US 59,800 10.20 609,960 0.83
VECTOIQ AC-CW23 US 99,739 0.43 42,888 0.06
VERRA MOBILITY CORP US 176,429 9.76 1,721,947 2.34
WAITR HOLDINGS INC US 151,004 11.15 1,683,695 2.28
WAITR HOLDINGS INC US 95,764 1.45 138,858 0.19
WILLIAMS SCOTSMA 6.88% 08/15/2023 US 1,250,000 96.00 1,200,000 1.63
WILLIAMS SCOTSMA 7.88% 12/15/2022 US 900,000 97.75 879,750 1.19
CIGNA CORP US -5,354 189.92 -1,016,832 -1.38
CONSUMER STAPLES SPDR US -223 50.78 -11,324 -0.02
ENERGY SELECT SECTOR SPDR US -1,974 57.35 -113,209 -0.15
FINANCIAL SELECT SECTOR SPDR US -233 23.82 -5,550 -0.01
ISHARES US TELECOMMUNICATION US -1,813 26.35 -47,773 -0.06
LENNAR CORP - B SHS US -607 31.33 -19,017 -0.03
MATERIALS SELECT SECTOR SPDR US -364 50.52 -18,389 -0.02
RHT1/25P1725US 01/25/2019 US -70 0.85 -5,950 -0.01
SIRIUS XM HOLDINGS INC US -210,871 5.71 -1,204,073 -1.63
SPDR S&P OIL & GAS EXP & PR US -42,000 26.53 -1,114,260 -1.51
SPY12/31C2820US 01/03/2019 US -90 0.00 0 0.00
SPY12/31P2650US 01/03/2019 US -1 15.98 -1,598 0.00
UTILITIES SELECT SECTOR SPDR US -540 52.92 -28,577 -0.04
WALT DISNEY CO/THE US -5,888 109.65 -645,619 -0.88
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
CIGNA CORP US -5,354 189.92 -1,016,832 -1.38
CONSUMER STAPLES SPDR US -223 50.78 -11,324 -0.02
ENERGY SELECT SECTOR SPDR US -1,974 57.35 -113,209 -0.15
FINANCIAL SELECT SECTOR SPDR US -233 23.82 -5,550 -0.01
ISHARES US TELECOMMUNICATION US -1,813 26.35 -47,773 -0.06
LENNAR CORP - B SHS US -607 31.33 -19,017 -0.03
MATERIALS SELECT SECTOR SPDR US -364 50.52 -18,389 -0.02
RHT1/25P1725US 01/25/2019 US -70 0.85 -5,950 -0.01
SIRIUS XM HOLDINGS INC US -210,871 5.71 -1,204,073 -1.63
SPDR S&P OIL & GAS EXP & PR US -42,000 26.53 -1,114,260 -1.51
SPY12/31C2820US 01/03/2019 US -90 0.00 0 0.00
SPY12/31P2650US 01/03/2019 US -1 15.98 -1,598 0.00
UTILITIES SELECT SECTOR SPDR US -540 52.92 -28,577 -0.04
WALT DISNEY CO/THE US -5,888 109.65 -645,619 -0.88
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 Longfellow Investment Management Co., LLC
Barbara McKenna

Barbara J. McKenna, CFA 

Investment Experience since 1985 

Career Summary 
Longfellow Investment Management Co., LLC
State Street Research
Standish, Ayer & Wood
BayBank Investment Management
Massachusetts Capital Resource Company 

Education 
MS - Finance, Boston College 
BS - Business Administration, Boston College 
Andrew Bail

Andrew G. Bail

Investment Experience since 2006 

Career Summary 
Longfellow Investment Management Co., LLC
JPMorgan Chase & Co.
Babson Capital Management
The Flatley Co.
Peak6 Investments 

Education 
MBA - Finance, Boston College
BA - John Hopkins University
David Stuehr

David Stuehr, CFA 

Investment Experience since 1986

Career Summary 
Longfellow Investment Management Co., LLC
Hanover Strategic Management
Seneca Capital Management
Standish, Ayer & Wood 

Education 
MS - Finance, Boston College
MA - Economics, Bowling Green State University

Fees

Total Annual Fund Operating Expense Ratio
Net Annual Fund Operating Expense Ratio
Touchstone Advisors, Inc. and the Funds Trust have entered into a contractual expense limitation agreement whereby Touchstone Advisors will waive a portion of its fees or reimburse certain Fund expenses (excluding dividend and interest expenses relating to short sales; interest; taxes; brokerage commissions and other transaction costs; portfolio transactions and investment related expenses; other expenditures which are capitalized in accordance with U.S. generally accepted accounting principles; the costs of “Acquired Fund Fees and Expenses,” if any; and other extraordinary expenses not incurred in the ordinary course of business) in order to limit certain annual Fund operating expenses to 1.68% for Class A Shares, 2.43% for Class C Shares, 1.43% for Class Y Shares and 1.28% for Class INST Shares. This contractual expense limitation is effective through 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 Merger Arbitrage Fund For Your Portfolio

Touchstones Merger Arbitrage Fund seeks to achieve positive absolute returns regardless of market conditions over the long-term by investing primarily in securities of companies that are involved in publicly announced mergers and other corporate reorganizations.
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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