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Touchstone Sands Capital Emerging Markets Growth Fund

Daily NAV
$
as of
Overall Morningstar Rating™
Diversified Emerging Mkts
as of 12/31/2019
Active Share
81 %
as of 12/31/2019
Contact Us
Fact Sheet
Summary Prospectus

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

As active, high-conviction, long-term investors, we know that the Fund's portfolio will look drastically different than its benchmark. However, we believe this differentiation may provide the opportunity to add value over the long term.

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 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. If interest rates rise, the fixed dividend on preferred stocks may be less attractive, causing their price to decline. 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 foreign, emerging and frontier markets securities, and 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 accounting standards that differ from those of U.S. markets and may offer less protection to investors. 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 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 12/31/2019
Total Fund Net Assets as of 12/31/2019 $1,382,945,158
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

HISTORICAL DAILY NAV
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 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.
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 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 12/31/2019
Number of Holdings
39
Benchmark Holdings 1404
Active Share
81%
Weighted Average Market Capitalization
$130.9 B
Median Market Capitalization
$18.8 B
Price To Earnings Ratio
(Weighted Harmonic Average)
33.1x
Price to Book Ratio
(Weighted Harmonic Average)
5.3x
as of 12/31/2019
Composition % of Portfolio
Equity 96.8
Cash Equivalents 3.2
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 Funds, the fund’s sub-advisor is the source. All holdings data is sourced from BNY Mellon Asset Servicing.
as of 12/31/2019
Country % of Portfolio
China 32.9
India 23.9
Russia 5.4
Singapore 5.2
Argentina 4.1
Taiwan 3.9
Brazil 3.8
Hong Kong 3.6
Indonesia 2.7
Cambodia 2.5
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 Funds, the fund’s sub-advisor is the source. All holdings data is sourced from BNY Mellon Asset Servicing.
as of 12/31/2019
Sector % of Portfolio
Consumer Discretionary 34.9
Communication Services 20.1
Financials 17.7
Information Technology 8.0
Health Care 6.0
Industrials 4.9
Consumer Staples 4.4
Real Estate 2.5
Materials 1.5
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 Funds, the fund’s sub-advisor is the source. All holdings data is sourced from BNY Mellon Asset Servicing.
as of 12/31/2019
Security Description % of Portfolio
Alibaba Group Holding Ltd. 10.8
Tencent Holdings Ltd. 7.7
Sea Ltd. 5.4
Yandex NV 4.4
Mercadolibre Inc. 4.3
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 Funds, the fund’s sub-advisor is the source. All holdings data is sourced from BNY Mellon Asset Servicing.
as of 09/30/2019
Security Description
Country
Shares Par Value
Current Price ($)
Market Value ($)
% of Portfolio
{name} {country} {sharesParValue} {currentPriceBase} {marketBaseValue} {percentOfPortfolio}
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 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.

Distribution

Resources

Annual Report
Commentary
Fact Sheet
Semi-Annual Report
Statement of Additional Information (SAI)
Statutory Prospectus
Summary Prospectus

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

All Russell® Indices are trademarks/service marks of the Frank Russell Company. Russell is a trademark of the Frank Russell Company. The Frank Russell Company (FRC) is the source and owner of the data contained or reflected in this material and all trademarks and copyrights related thereto. The material may contain confidential information and unauthorized use, disclosure, copying, dissemination or redistribution is strictly prohibited. This is a Touchstone Investments presentation of the data, and FRC is not responsible for the formatting or configuration of this material or for any inaccuracy in the presentation thereof.

MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used to create indices or financial products. This report is not approved or produced by MSCI.

©2019 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. 

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by Standard & Poor’s Financial Services, LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2011 American Bankers Association. “CUSIP” is a registered trademark of the American Bankers Association.