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Touchstone Small Cap Fund

Daily NAV
$
Overall Morningstar Rating™
Small Blend

Morningstar

Overall Morningstar Rating™ is calculated against 633 funds in the Small Blend 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
98 %

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 The London Company

Objective

The fund seeks long-term capital appreciation by investing primarily in stocks of small-cap U.S. companies.

Small Cap Fund Commentary

Investment Style

  • Emphasizes investments in small-cap companies
  • Utilizes a bottom-up security selection process that screens potential investments against a proprietary quantitative model for return on capital, earnings to value ratio, free cash flow and return on equity
  • Looks at a company's corporate governance structure and management incentives to try to ascertain whether or not management's interests are aligned with shareholder interests
  • Seeks to identify the sources of a company's competitive advantage as well as what levers management has at its disposal to increase shareholder value
  • Seeks to purchase generally profitable, financially stable companies that consistently generate high returns on unleveraged operating capital, are run by shareholder-oriented management, and are trading at a discount to their private market value
A WORD ABOUT RISK

The Fund invests in equities which are subject to market volatility and loss. The Fund invests in stocks of small-cap companies, which may be subject to more erratic market movements than stocks of larger, more established companies. 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 $79,183,703
Asset Class US Equity
Morningstar Category Small Blend
Benchmark Russell 2000® Index
Distribution Frequency Annually
Portfolio Turnover Rate
Fiscal Year End
Prospectus Date 01/30/2019

Performance

Daily Returns as of
NAV NAV $ Change
Touchstone Small Cap Fund -
HISTORICAL DAILY NAV
as of 06/30/2019
1 Month 3 Month YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Touchstone Small Cap Fund -
Including Sales Charge
Touchstone Small Cap Fund -
Excluding Sales Charge
Russell 2000® Index 7.07% 2.10% 16.98% -3.31% 12.30% 7.06% 13.45% --
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 Small Cap Fund -
Including Sales Charge
Touchstone Small Cap Fund -
Excluding Sales Charge
Russell 2000® Index -3.31% 12.30% 7.06% 13.45% --
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 Small Cap Fund for Your Portfolio

Investing primarily in stocks of small-cap U.S. companies, Touchstone Small Cap Fund utilizes a bottom-up security selection process to purchase generally profitable, financially stable companies. It seeks to build a small-cap core portfolio that may provide long-term capital appreciation.
Contact Us Now

Morningstar Rating™

Portfolio

as of 06/30/2019
Number of Holdings
32
Active Share
98%

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
$3.3 B
Median Market Capitalization
$2.8 B
Price To Earnings Ratio
(Weighted Harmonic Average)
19.5x
Price to Book Ratio
(Weighted Harmonic Average)
2.6x
as of 06/30/2019
Composition % of Portfolio
Equities 96.5
Cash Equivalents 3.5
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
Sector % of Portfolio
Industrials 28.3
Consumer Discretionary 15.8
Materials 15.1
Financials 14.9
Real Estate 9.2
Consumer Staples 4.1
Information Technology 3.8
Communication Services 3.3
Energy 2.5
Healthcare 2.3
Utilities 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 06/30/2019
Security Description % of Portfolio
Landstar System, Inc. 5.6
Ingevity Corp. 5.4
NewMarket Corp. 5.3
First Industrial Realty Trust 4.7
Armstrong World Industries Inc. 4.5
Churchill Downs Inc. 4.4
Kaman Corp. 4.2
White Mountains Insurance Group 4.1
GATX Corp. 4.0
Penske Automotive Group, Inc. 3.9
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 06/30/2019
Security Description
Country
Shares Par Value
Current Price ($)
Market Value ($)
% of Portfolio
ALEXANDER & BALDWIN INC US 124,657 23.10 2,879,577 3.62
ARMSTRONG WORLD INDUSTRIES INC US 35,271 97.20 3,428,341 4.31
ATLANTIC UNION BANKSHARES CORP US 72,103 35.33 2,547,399 3.20
BRUKER CORP US 38,969 49.95 1,946,502 2.44
CHURCHILL DOWNS INC US 29,339 115.07 3,376,039 4.24
DREYFUS GOVERNMENT CASH MANAGE 12/01/2099 US 2,751,087 1.00 2,751,087 3.46
DRIL-QUIP INC US 44,174 48.00 2,120,352 2.66
EATON VANCE CORP US 45,884 43.13 1,978,977 2.49
ENERGIZER HOLDINGS INC US 34,819 38.64 1,345,406 1.69
ENTEGRIS INC US 64,204 37.32 2,396,093 3.01
FIRST INDUSTRIAL REALTY TRUST US 97,338 36.74 3,576,198 4.49
GATX CORP US 39,161 79.29 3,105,076 3.90
GCP APPLIED TECHNOLOGIES INC US 100,945 22.64 2,285,395 2.87
INGEVITY CORP US 39,365 105.17 4,140,017 5.20
KAMAN CORP US 50,301 63.69 3,203,671 4.02
LANDSTAR SYSTEM INC US 39,984 107.99 4,317,872 5.42
LCI INDS COM US 17,087 90.00 1,537,830 1.93
MASONITE INTERNATIONAL CORP CA 34,672 52.68 1,826,521 2.29
MATSON INC US 47,792 38.85 1,856,719 2.33
MBIA INC US 143,920 9.31 1,339,895 1.68
MOELIS & CO US 72,232 34.95 2,524,508 3.17
MSG NETWORKS INC US 121,406 20.74 2,517,960 3.16
NEWMARKET CORP US 10,245 400.94 4,107,630 5.16
PENSKE AUTOMOTIVE GROUP INC US 63,413 47.30 2,999,435 3.77
PRICESMART INC US 29,806 51.12 1,523,683 1.91
STURM RUGER & CO INC US 35,606 54.48 1,939,815 2.44
TEJON RANCH CO US 33,060 16.59 548,465 0.69
TEMPUR SEALY INTERNATIONAL INC US 33,485 73.37 2,456,794 3.09
TREDEGAR CORP US 42,777 16.62 710,954 0.89
UNIFIRST CORP/MA US 12,526 188.57 2,362,028 2.97
VERSUM MATERIALS INC US 55,174 51.58 2,845,875 3.57
WHITE MOUNTAINS INSURANCE GROU BM 3,063 1,021.46 3,128,732 3.93
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 The London Company
Stephen M. Goddard, CFA

Stephen M. Goddard, CFA

Investment Experience since 1985 

Career Summary 
The London Company
Flippin, Bruce & Porter
CFB Advisory
Scott & Stringfellow 

Education 
MBA - University of Richmond
BA - Virginia Military Institute
Jonathan Moody

Jonathan T. Moody, CFA

Investment Experience since 1987 

Career Summary 
The London Company
Primary Research Group
BB&T Capital Markets
Crestar Asset Management
Piedmont Capital
Woodward and Associates


Education 
BS -Virginia Military Institute

J Bryan Campbell

J. Brian Campbell, CFA

Investment Experience since 2000 

Career Summary 
The London Company
Hilliard Lyons Capital Management
INVESCO-National Asset Management

Education 
MBA - Indiana University
BBA in Finance (with Honors) -University of Kentucky
Mark Devauls

Mark E. DeVaul, CFA, CPA

Investment Experience since 1998 

Career Summary 
The London Company
Nuveen Investments
Salomon Smith Barney
First Union Securities

Education 
MBA - University of Notre Dame
BS in Accounting -Liberty University

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 1.24% for Class A Shares, 1.99% for Class C Shares, 0.99% for Class Y Shares and 0.91% for Class INST Shares. These expense limitations will remain in effect until at least 05/30/2020.

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 Small Cap Fund for Your Portfolio

Investing primarily in stocks of small-cap U.S. companies, Touchstone Small Cap Fund utilizes a bottom-up security selection process to purchase generally profitable, financially stable companies. It seeks to build a small-cap core portfolio that may provide long-term capital appreciation.
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.

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