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Touchstone Sands Capital Emerging Markets Growth Fund

Daily NAV
$
Overall Morningstar Rating™
Diversified Emerging Mkts
Active Share
85 %

Overview

Overview

Actively Managed and Sub-Advised by Sands Capital Management, LLC

Objective

The fund seeks long-term capital appreciation by investing primarily in companies located in emerging market countries and opportunistically, in frontier market countries.

Sands Capital Emerging Markets Growth Fund Commentary

Investment Style

  • Seeks to identify leading growth businesses that meet the following criteria:
    - Sustainable, above-average earnings growth
    - Leadership position in a promising business space
    - Significant competitive advantages / distinctive business franchise
    - Clear mission and value-added focus
    - Financial strength
    - Rational valuation relative to the market and business prospects
  • Concentrated, conviction-weighted portfolio typically holds 30-50 companies within global emerging markets
  • Country and sector exposures are primarily a by-product of individual stock selection
A WORD ABOUT RISK

The Fund invests in equities which are subject to market volatility and loss. The Fund invests in foreign, emerging and frontier market securities, 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 risks associated with investing in foreign markets are magnified in emerging markets and further magnified in frontier markets due to their smaller economies. 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 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 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 derivatives including options and equity-related securities such as in low-exercise-price options (“LEPOs”), low exercise price warrants (“LEPWs”) and participatory notes (“P-notes”) which are offshore derivative instruments used to gain exposure to issuers in certain emerging and frontier market countries. The risks of investing in LEPOs, LEPWs and P-notes are similar to the risks of investing in foreign securities and depositary receipts. These securities may lack a liquid market, are subject to correlation, liquidity, counterparty and leverage risks which could result in increased volatility of returns as well as losses. The Fund invests in options which can be highly volatile, may lack liquidity and may result in losses. 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

Fund Facts for Share Class
Symbol
CUSIP
Share Class Inception Date
Total Share Class Net Assets as of 06/30/2019
Total Fund Net Assets as of 06/30/2019 $1,048,041,412
Asset Class International / Global Equity
Morningstar Category Diversified Emerging Mkts
Benchmark MSCI Emerging Markets Index
Distribution Frequency Annually
Portfolio Turnover Rate
Fiscal Year End
Prospectus Date 07/30/2019
The prospectus date for Class A Shares and Class C Shares is 11/16/2018.  The prospectus date for Class Y Shares and Class INST Shares is 07/30/2018.

Performance

Daily Returns as of
NAV NAV $ Change
Touchstone Sands Capital Emerging Markets Growth Fund -
HISTORICAL DAILY NAV
as of 07/31/2019
1 Month 3 Month YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Touchstone Sands Capital Emerging Markets Growth Fund -
Including Sales Charge
Touchstone Sands Capital Emerging Markets Growth Fund -
Excluding Sales Charge
MSCI Emerging Markets Index -1.22% -2.67% 9.23% -2.18% 8.42% 1.84% 4.56% --
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 06/30/2019
1 Year 3 Year 5 Year 10 Year Since Inception
Touchstone Sands Capital Emerging Markets Growth Fund -
Including Sales Charge
Touchstone Sands Capital Emerging Markets Growth Fund -
Excluding Sales Charge
MSCI Emerging Markets Index 1.21% 10.66% 2.49% 5.81% --
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. 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.
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.

Consider Touchstone Sands Capital Emerging Markets Growth Fund for Your Portfolio

Touchstone Sands Capital Emerging Markets Growth Fund primarily invests in what are believed to be leading growth businesses in emerging market countries, and opportunistically, in frontier market countries. The fund seeks long-term capital appreciation through a concentrated, conviction-weighted portfolio. 
Contact Us Now

Morningstar Rating™

Portfolio

as of 06/30/2019
Number of Holdings
42
Active Share
85%
Weighted Average Market Capitalization
$96.9 B
Median Market Capitalization
$15.3 B
Price To Earnings Ratio
(Weighted Harmonic Average)
29.1x
Price to Book Ratio
(Weighted Harmonic Average)
4.8x
as of 06/30/2019
Composition % of Portfolio
Equity 96.7
Cash Equivalents 3.3
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 06/30/2019
Country % of Portfolio
China 28.3
India 28.0
Russia 6.2
Argentina 4.9
Hong Kong 4.7
South Africa 3.8
Singapore 3.7
Brazil 3.0
Thailand 2.9
Indonesia 2.7
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 06/30/2019
Sector % of Portfolio
Consumer Discretionary 35.2
Communication Services 19.3
Financials 17.9
Health Care 6.2
Industrials 5.2
Information Technology 4.9
Consumer Staples 4.7
Real Estate 2.1
Materials 1.3
Utilities 0.0
Energy 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 07/31/2019
Security Description % of Portfolio
ALIBABA GROUP HOLDING LTD 8.6
TENCENT HOLDINGS LTD 6.9
MERCADOLIBRE INC 5.0
YANDEX NV 4.9
SEA LTD 4.5
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 06/30/2019
Security Description
Country
Shares Par Value
Current Price ($)
Market Value ($)
% of Portfolio
ALIBABA GROUP HOLDING LTD KY 517,134 169.45 87,628,356 8.21
BAIDU INC KY 134,214 117.36 15,751,355 1.48
BEIGENE LTD KY 66,741 123.95 8,272,547 0.78
CTRIP.COM INTERNATIONAL LTD KY 903,000 36.91 33,329,730 3.12
DREYFUS GOVERNMENT CASH MANAGE 12/01/2099 US 68,148,582 1.00 68,148,582 --
GRUPO AEROPORTUARIO DEL SUREST MX 126,948 162.11 20,579,540 1.93
HUTCHISON CHINA MEDITECH LTD KY 226,112 22.00 4,974,464 0.47
MERCADOLIBRE INC US 84,825 611.77 51,893,390 4.86
EICHER MOTORS LTD IN 40,479 277.13 11,217,818 1.05
INDUSIND BANK LTD IN 919,716 20.43 18,793,373 1.76
TITAN CO LTD IN 401,434 19.34 7,764,945 0.73
HOUSING DEVELOPMENT FINANCE CO IN 1,050,860 31.75 33,368,114 3.13
ZEE ENTERTAINMENT ENTERPRISES IN 2,636,946 4.91 12,952,521 1.21
APOLLO HOSPITALS ENTERPRISE LT IN 1,631,448 19.70 32,137,866 3.01
NEW ORIENTAL EDUCATION & TECHN KY 270,077 96.58 26,084,037 2.45
NASPERS LTD ZA 159,800 242.05 38,679,631 3.63
MARUTI SUZUKI INDIA LTD IN 107,904 94.67 10,214,979 0.96
SM PRIME HOLDINGS INC PH 18,374,500 0.72 13,308,052 1.25
SEA LTD KY 1,179,000 33.22 39,166,380 3.67
TAIWAN SEMICONDUCTOR MANUFACTU TW 621,440 39.17 24,341,805 2.28
LARSEN & TOUBRO LTD IN 990,230 22.50 22,279,694 2.09
BANK CENTRAL ASIA TBK PT ID 12,868,400 2.12 27,307,725 2.56
LOCALIZA RENT A CAR SA BR 1,022,800 10.60 10,838,092 1.02
CP ALL PCL TH 10,578,600 2.80 29,619,785 2.78
NAGACORP LTD KY 17,451,000 1.23 21,464,011 2.01
SUNNY OPTICAL TECHNOLOGY GROUP KY 1,461,200 10.35 15,128,225 1.42
ANTA SPORTS PRODUCTS LTD KY 5,147,500 6.90 35,503,339 3.33
JUBILANT FOODWORKS LTD IN 1,324,562 17.86 23,658,977 2.22
AIA GROUP LTD HK 2,794,600 10.80 30,178,614 2.83
MAKEMYTRIP LTD MU 735,600 24.80 18,242,880 1.71
YANDEX NV NL 1,317,100 38.00 50,049,800 4.69
HDFC BANK LTD IN 1,075,250 35.42 38,086,695 3.57
RAIA DROGASIL SA BR 457,000 19.97 9,127,028 0.86
ASIAN PAINTS LTD IN 653,662 19.67 12,856,674 1.21
BAJAJ FINANCE LTD IN 630,069 53.32 33,592,266 3.15
PAGSEGURO DIGITAL LTD KY 301,341 38.97 11,743,259 1.10
BRITANNIA INDUSTRIES LTD IN 243,579 39.75 9,681,152 0.91
HANSOH PHARMACEUTICAL GROUP CO KY 3,713,969 2.64 9,817,768 0.92
TENCENT HOLDINGS LTD KY 1,491,800 45.24 67,488,165 6.33
VINCOM RETAIL JSC VN 5,756,314 1.45 8,362,042 0.78
WUXI BIOLOGICS CAYMAN INC KY 967,500 8.97 8,679,930 0.81
MAIL.RU GROUP LTD VG 566,000 25.52 14,444,320 1.35
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 Sands Capital Management, LLC
Brian A Christiansen

Brian A. Christiansen, CFA

Investment Experience since 2006

Career Summary 
Sands Capital Management, LLC 

Education 
MBA - Yale School of Management
BA - Yale University
Ashraf A. Haque

Ashraf A. Haque

Investment Experience since 2007

Career Summary 
Chesapeake Partners
McKinsey & Company
GH Smart & Company 

Education 
MBA - Harvard Business School
BA - Northwestern University 
 
Neil Kansari

Neil Kansari

Investment Experience since 2008 

Career Summary 
PRTM, part of PricewaterhouseCoopers LLP
University of Virginia Department of Electrical Engineering
Millennium Solutions; Universal Impex
Mahajan & Aibara: Shah Gupta & Co.

Education 
MBA - University of Virginia, Darden School of Business
MS - University of Virginia
BE - University of Mumbai

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 1.60% for Class A Shares, 2.35% for Class C Shares, 1.35% for Class Y Shares and 1.25% for Class INST Shares. These expense limitations will remain in effect until at least 11/16/2019 for Class A Shares and Class C Shares and in effect until at least 7/29/2019 for Class Y Shares and Class INST Shares.

Resources

Consider Touchstone Sands Capital Emerging Markets Growth Fund for Your Portfolio

Touchstone Sands Capital Emerging Markets Growth Fund primarily invests in what are believed to be leading growth businesses in emerging market countries, and opportunistically, in frontier market countries. The fund seeks long-term capital appreciation through a concentrated, conviction-weighted portfolio. 
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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