Touchstone Emerging Markets Equity Fund Sub-Advised by: AGF Investments America Inc.

Portfolio Characteristics as of 12/31/2015
Market Capitalization $41.2 Billion
Price Earnings Ratio113.8
Number of Holdings ^71
Active Share80

^ Number of holdings may include cash equivalents.

Top Country Allocation as of 12/31/2015(% of Portfolio)
China / Hong Kong19.9
India13.8
South Korea9.7
Taiwan9.6
Mexico8.1
Thailand5.6
Brazil4.7
United Kingdom4.0
South Africa3.9
Indonesia3.3
Full Holdings as of 12/31/2015
Security DescriptionCountryShares Par
Value
Current
Price ($)
Market
Value ($)
% of
Portfolio
AIA GROUP LTDHK88,1325.98526,5961.63
BANCO BRADESCO PFD RTSBR2,067.521,0820.00
BANCO BRADESCO SA-PREFBR56,2174.87273,9600.85
BANK MANDIRI PERSERO TBK PTID745,512.66495,0501.53
BHARAT FORGE LIMITEDIN45,75813.43614,6561.90
BHARTI AIRTEL LIMITEDIN26,4485.12135,5180.42
BRITISH AMERICAN TOBACCO BHDMY38,60013.06504,1781.56
CHINA BLUECHEMICAL LTD - HCN210,369.2756,9510.18
CHINA OVERSEAS LAND & INVESTHK260,8263.48908,0302.80
CHINA OVERSEAS PROPERTY HOLDHK86,558.1614,1840.04
CNOOC LTDCN603,7021.04628,3191.94
CREDICORP LTDPE6,00997.32584,7961.81
DELTA ELECTRONICS INCTW165,6204.70779,0062.40
ECLAT TEXTILE COMPANY LTDTW36,00413.74494,7391.53
ELDORADO GOLD CORPCA77,1372.96228,5620.71
ENERSIS SACL1,678,409.24405,2241.25
FIRST GULF BANKAE215,6073.44742,5622.29
FOMENTO ECONOMICO MEX-SP ADRMX6,17692.35570,3541.76
GENOMMA LAB INTERNACIONAL-BMX579,927.80466,0411.44
GERDAU SA-PREFBR54,3601.1863,8920.20
GIANT MANUFACTURINGTW66,3026.63439,5161.36
GRUPO FINANCIERO BANORTE-OMX125,7855.51693,2792.14
HANKOOK TIRE CO LTDKR16,52139.89658,9532.03
HCL TECHNOLOGIES LTDIN34,00612.90438,5731.35
HERMES MICROVISION INCTW5,38835.97193,7940.60
IND & COMM BK OF CHINA-HCN1,670,719.601,001,4603.09
ITC LTDIN129,0114.94637,9361.97
KASIKORNBANK PCL-FOREIGNTH99,3174.13410,5111.27
KIA MOTORS CORPKR11,76644.59524,6461.62
KIMBERLY-CLARK DE MEXICO-AMX236,3412.34553,6041.71
KOMERCNI BANKA ASCZ3,587198.53712,1302.20
LOCALIZA RENT A CARBR47,8236.27300,0230.93
LOJAS AMERICANAS SA-PREFBR86,1404.90422,3991.30
LUPIN LTDIN16,37627.77454,7841.40
MAHINDRA & MAHINDRA LTDIN16,29919.20312,8790.97
MTN GROUP LTDZA40,6718.61350,3551.08
ODONTOPREV S.A.BR105,2792.39251,4720.78
OIL & NATURAL GAS CORP LTDIN86,4893.65315,4150.97
PETROCHINA CO LTD-HCN353,431.65231,3700.71
PTT EXPLORATION & PROD-FORTH139,5191.59221,2430.68
RANDGOLD RESOURCES LTD-ADRJE4,77561.93295,7160.91
RELIANCE INDUSTRIES LTDIN37,94715.31581,0221.79
SABMILLER PLCGB16,73759.821,001,2813.09
SAMSUNG ELECTRONICS CO LTDKR1,1461066.581,222,3033.77
SHINHAN FINANCIAL GROUP LTDKR21,29133.59715,2022.21
SIAM CEMENT PCL-NVDRTH12,37912.72157,5200.49
SIAM CEMENT PUB CO-FOR REGTH21,99912.62277,6450.86
SINGAPORE TECH ENGINEERINGSG285,1692.11602,8151.86
SINOPHARM GROUP CO-HCN116,2683.99464,1681.43
SOUTHERN COPPER CORPPE14,55926.12380,2811.17
TAIWAN SEMICONDUCTOR MANUFACTW272,0424.311,173,6553.62
TELEKOMUNIKASI INDONESIA PERID2,577,410.22577,2811.78
TENARIS SA-ADRLU13,20123.80314,1840.97
TENCENT HOLDINGS LTDCN46,30119.58906,5732.80
TEVA PHARMACEUTICAL-SP ADRIL9,53165.64625,6151.93
THAI OIL PCL-NVDRTH399,5411.82728,2492.25
THE FOSCHINI GROUP LTDZA32,8457.86258,0920.80
TINGYI (CAYMAN ISLN) HLDG COCN224,3741.42318,7640.98
TOTVS SABR17,4137.84136,5750.42
TUPRAS-TURKIYE PETROL RAFINETR6,81223.85162,4680.50
TURKCELL ILETISIM HIZMET ASTR71,7173.39243,1040.75
TURKIYE GARANTI BANKASITR76,4442.44186,2300.57
UNITED PHOSPHORUS LTDIN89,1156.62590,1371.82
VALE SA-PREFBR7,9922.5920,7060.06
VALE SA-SP ADRBR16,2913.2953,5970.17
VTECH HOLDINGS LTDHK43,22810.35447,5751.38
WALMART DE MEXICO SAB DE CVMX163,7722.52413,2671.28
WEICHAI POWER CO LTD-HCN508,6651.10560,1721.73
WHARF HOLDINGS LTDHK62,3785.51343,9201.06
WOOLWORTHS HOLDINGS LTDZA98,7666.47638,9441.97
ZEE ENTERTAINMENT ENTERPRISEIN57,3906.59378,3141.17
Top 10 Equity Holdings as of 1/31/2016
Security Description
% of
Portfolio
1. TAIWAN SEMICONDUCTOR MANUFAC3.8
2. SAMSUNG ELECTRONICS CO LTD3.6
3. TENCENT HOLDINGS LTD3.3
4. SABMILLER PLC3.2
5. IND & COMM BK OF CHINA-H2.8
6. CHINA OVERSEAS LAND & INVEST2.4
7. KOMERCNI BANKA AS2.4
8. DELTA ELECTRONICS INC2.4
9. THAI OIL PCL-NVDR2.3
10. AIA GROUP LTD2.3

Data may not total due to rounding.

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.

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.

The data illustrated for Touchstone Domestic Equity Funds – Morningstar is the source. For Russell index information – the Frank Russell Company is the source and owner. For MSCI index information- the MSCI is the source and owner. The data illustrated for Touchstone Fixed Income Funds, Diversified Income Funds, Alternative Investment Funds, International Equity Funds, Asset Allocation Funds and Money Market Funds – the fund’s sub-advisor is the source. Calculations for sectors and top holdings exclude cash equivalents. All holdings data is sourced from BNY Mellon Asset Servicing.