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

Portfolio Characteristics as of 12/31/2014
Market Capitalization $30.3 Billion
Price Earnings Ratio13.9
Beta(vs Benchmark)10.92
Number of Holdings69
Active Share80

1Beta measures a fund’s market-rated risk. By definition, the market beta is 1.00.

Top Country Allocation as of 12/31/2014(% of Portfolio)
China / Hong Kong18.4
India13.6
South Korea13.1
Brazil10.4
Taiwan7.3
Mexico7.2
Thailand4.6
South Africa4.1
United Kingdom3.9
Peru3.1
Full Holdings as of 12/31/2014
TickerSecurity DescriptionCountryShares Par
Value
Current
Price ($)
Market
Value ($)
% of
Portfolio
AMXAMERICA MOVIL-SPN ADR CL LMX182,31222.184,043,6801.26
522ASM PACIFIC TECHNOLOGYHK83,9449.52799,2680.25
BBDC4BANCO BRADESCO SA-PREFBR444,55813.195,863,4431.83
BMRIBANK MANDIRI PERSERO TBK PTID3,861,993.873,358,5371.05
NBHFCBHARAT FORGE LIMITEDIN486,17114.877,227,9312.25
NBHARTIBHARTI AIRTEL LIMITEDIN515,9045.562,868,6440.89
ROTHBRITISH AMERICAN TOBACCO BHDMY333,92618.526,184,5951.93
138930BS FINANCIAL GROUP INCKR495,79913.176,527,5482.03
3983CHINA BLUECHEMICAL LTD - HCN6,529,778.352,309,4410.72
688CHINA OVERSEAS LAND & INVESTHK2,247,4702.966,648,5362.07
883CNOOC LTDCN3,980,7811.355,382,6901.68
BAPCREDICORP LTDPE50,551160.188,097,2592.52
210DAPHNE INTERNATIONAL HOLDINGCN10,290,591.363,748,1341.17
2308DELTA ELECTRONICS INCTW304,0615.911,796,7690.56
1476ECLAT TEXTILE COMPANY LTDTW302,13810.053,036,6110.95
ENERSISENERSIS SACL14,541,439.334,762,3271.48
142FIRST PACIFIC COHK3,662,006.993,616,2321.13
FMXFOMENTO ECONOMICO MEX-SP ADRMX53,06788.034,671,4881.45
GGBR4GERDAU SA-PREFBR467,3863.601,684,4320.52
9921GIANT MANUFACTURINGTW956,7398.848,454,7732.63
GFNORTEOGRUPO FINANCIERO BANORTE-OMX1,325,5325.507,295,3112.27
161390HANKOOK TIRE CO LTDKR144,38247.526,861,2612.14
HCLTHCL TECHNOLOGIES LTDIN206,86125.265,224,3671.63
1398IND & COMM BK OF CHINA-HCN12,260,314.738,952,3872.79
ITCITC LTDIN1,116,0095.836,501,1632.02
KBANK/FKASIKORNBANK PCL-FOREIGNTH517,5166.923,582,3851.12
KPLDKEPPEL LAND LTDSG1,259,8592.583,245,5551.01
270KIA MOTORS CORPKR120,33747.525,717,9311.78
KIMBERAKIMBERLY-CLARK DE MEXICO-AMX1,401,4722.183,048,2580.95
KOMBKOMERCNI BANKA ASCZ30,878205.806,354,7291.98
RENT3LOCALIZA RENT A CARBR408,41713.435,486,6341.71
LAME4LOJAS AMERICANAS SA-PREFBR745,9846.494,838,1481.51
LPCLUPIN LTDIN235,78023.765,602,9151.74
MMMAHINDRA & MAHINDRA LTDIN222,25019.474,326,9411.35
MTNMTN GROUP LTDZA194,39519.023,697,8851.15
ODPV3ODONTOPREV S.A.BR1,584,3073.715,876,6331.83
NONGCOIL & NATURAL GAS CORP LTDIN747,6115.384,023,2571.25
PETR4PETROBRAS - PETROLEO BRAS-PRBR515,2293.771,942,1390.60
857PETROCHINA CO LTD-HCN2,999,4611.113,329,6621.04
5490POSCOKR11,424251.892,877,6470.90
PTTEP/FPTT EXPLORATION & PROD-FORTH1,743,9083.395,905,5431.84
GOLDRANDGOLD RESOURCES LTD-ADRJE61,72767.414,161,0171.30
RILRELIANCE INDUSTRIES LTDIN327,04214.064,598,8771.43
SABSABMILLER PLCGB160,00152.138,341,0532.60
5930SAMSUNG ELECTRONICS CO LTDKR11,7731202.2414,154,0244.41
55550SHINHAN FINANCIAL GROUP LTDKR142,44740.205,725,6731.78
SCCRSIAM CEMENT PCL-NVDRTH105,97813.571,438,5020.45
SCC/FSIAM CEMENT PUB CO-FOR REGTH99,61213.641,359,1780.42
SCCOSOUTHERN COPPER CORPUS65,36828.201,843,3780.57
2330TAIWAN SEMICONDUCTOR MANUFACTW2,336,0524.4110,291,4103.20
TLKMTELEKOMUNIKASI INDONESIA PERID22,385,830.235,144,9071.60
TSTENARIS SA-ADRLU169,75830.215,128,3891.60
700TENCENT HOLDINGS LTDCN225,80014.473,267,0851.02
TEVATEVA PHARMACEUTICAL-SP ADRIL57,08857.513,283,1311.02
TOPRTHAI OIL PCL-NVDRTH1,827,8081.272,325,8670.72
TFGTHE FOSCHINI GROUP LTDZA277,07211.483,180,9070.99
322TINGYI (CAYMAN ISLN) HLDG COCN1,158,3912.272,632,4860.82
TOTS3TOTVS SABR334,06213.174,398,5291.37
TUPRSTUPRAS-TURKIYE PETROL RAFINETR59,01623.661,396,3080.43
TCELLTURKCELL ILETISIM HIZMET ASTR617,4246.103,767,8251.17
GARANTURKIYE GARANTI BANKASITR911,5684.023,661,8931.14
NUNTPUNITED PHOSPHORUS LTDIN518,6805.492,847,6150.89
VALE5VALE SA-PREFBR290,9697.232,104,9330.66
VALEVALE SA-SP ADRBR140,4228.181,148,6520.36
303VTECH HOLDINGS LTDHK434,31314.346,227,9541.94
WALMEXVWALMART DE MEXICO-SER VMX1,956,9762.154,207,4241.31
2338WEICHAI POWER CO LTD-HCN1,665,3314.196,980,7772.17
4WHARF HOLDINGS LTDHK773,7137.185,554,5561.73
WHLWOOLWORTHS HOLDINGS LTDZA950,6576.636,304,5061.96
Top 10 Holdings as of 1/31/2015
Security Description
% of
Portfolio
1. SAMSUNG ELECTRONICS CO LTD4.5
2. TAIWAN SEMICONDUCTOR MANUFAC3.2
3. IND & COMM BK OF CHINA-H2.7
4. SABMILLER PLC2.7
5. BHARAT FORGE LIMITED2.5
6. SHINHAN FINANCIAL GROUP LTD2.3
7. CREDICORP LTD2.3
8. WOOLWORTHS HOLDINGS LTD2.2
9. HANKOOK TIRE CO LTD2.2
10. GRUPO FINANCIERO BANORTE-O2.1

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 Fund Characteristics, Holdings, Sector Allocation, Industries, Regional Exposure, and Credit Quality is as follows: For Touchstone Domestic Equity Funds – Morningstar is the source. For Russell index information – the Frank Russell Company is the source and owner. For Touchstone Fixed Income Funds, Diversified Income Funds, Alternative Investment Funds and International Equity Funds – the fund’s sub-advisor (as well as BondEdge for Fixed Income Funds) is the source. Calculations for sectors and holdings include cash equivalents.