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

Portfolio Characteristics as of 3/31/2015
Market Capitalization $32.3 Billion
Price Earnings Ratio113.4
Number of Holdings ^72
Active Share81

1 Price Earnings Ratio is calculated using the weighted harmonic average which reduces the impact of extreme observations on the aggregate calculation by weighting them based on their size in the portfolio.

^ Number of holdings may include cash equivalents.

Top Country Allocation as of 3/31/2015(% of Portfolio)
China / Hong Kong16.9
India15.7
South Korea13.0
Taiwan9.1
Mexico8.0
Brazil7.6
Thailand4.9
South Africa4.4
United Kingdom3.5
Peru3.3
Full Holdings as of 3/31/2015
Security DescriptionCountryShares Par
Value
Current
Price ($)
Market
Value ($)
% of
Portfolio
ALPHA BANK A.E.GR3,917,300.301,160,3600.36
AMERICA MOVIL-SPN ADR CL LMX181,83220.463,720,2831.14
ASM PACIFIC TECHNOLOGYHK82,74810.41861,2900.26
BANCO BRADESCO SA-PREFBR679,1569.286,305,2061.93
BANK MANDIRI PERSERO TBK PTID3,890,573.953,710,3211.14
BHARAT FORGE LIMITEDIN482,53820.419,850,2583.01
BHARTI AIRTEL LIMITEDIN512,8056.283,220,4040.99
BRITISH AMERICAN TOBACCO BHDMY331,45918.546,144,2561.88
BS FINANCIAL GROUP INCKR488,48713.686,680,1932.04
CHINA BLUECHEMICAL LTD - HCN4,042,731.381,542,8380.47
CHINA OVERSEAS LAND & INVESTHK2,218,7073.237,165,0852.19
CNOOC LTDCN3,952,7921.415,578,6761.71
CREDICORP LTDPE50,290140.637,072,2832.16
DAPHNE INTERNATIONAL HOLDINGCN4,699,954.341,576,2200.48
DELTA ELECTRONICS INCTW645,9086.304,070,1501.25
ECLAT TEXTILE COMPANY LTDTW303,93813.103,982,7281.22
ELDORADO GOLD CORPCA334,9054.591,536,2980.47
ENERSIS SACL14,406,206.334,713,3321.44
FIRST PACIFIC COHK3,640,9921.003,635,0511.11
FOMENTO ECONOMICO MEX-SP ADRMX52,97093.504,952,6951.52
GENOMMA LAB INTERNACIONAL-BMX1,779,300.931,662,2430.51
GERDAU SA-PREFBR462,3133.191,473,1790.45
GIANT MANUFACTURINGTW767,0919.657,400,1782.26
GRUPO FINANCIERO BANORTE-OMX1,306,1705.807,573,1912.32
HANKOOK TIRE CO LTDKR142,88240.805,829,8971.78
HCL TECHNOLOGIES LTDIN410,06615.626,405,9311.96
HERMES MICROVISION INCTW48,40057.532,784,5500.85
IND & COMM BK OF CHINA-HCN9,952,230.747,361,4882.25
ITC LTDIN1,107,7705.205,758,8271.76
KASIKORNBANK PCL-FOREIGNTH520,3927.073,677,7891.13
KIA MOTORS CORPKR119,17740.644,843,1061.48
KIMBERLY-CLARK DE MEXICO-AMX1,399,0622.092,923,1390.89
KOMERCNI BANKA ASCZ30,578215.706,595,6302.02
LOCALIZA RENT A CARBR410,36011.464,703,3481.44
LOJAS AMERICANAS SA-PREFBR739,6495.173,823,9131.17
LUPIN LTDIN233,26732.097,486,1632.29
MAHINDRA & MAHINDRA LTDIN220,69618.984,189,0801.28
MTN GROUP LTDZA193,72816.863,265,7031.00
ODONTOPREV S.A.BR1,571,4333.435,391,4841.65
OIL & NATURAL GAS CORP LTDIN742,8374.893,636,1161.11
PETROCHINA CO LTD-HCN2,996,1371.113,327,2081.02
POSCOKR11,207218.572,449,4910.75
PTT EXPLORATION & PROD-FORTH1,726,1923.355,780,1711.77
RANDGOLD RESOURCES LTD-ADRJE40,97369.272,838,2000.87
RELIANCE INDUSTRIES LTDIN325,79013.214,302,7021.32
SABMILLER PLCGB159,53352.388,356,5832.56
SAMSUNG ELECTRONICS CO LTDKR11,6481296.7515,104,5834.62
SHINHAN FINANCIAL GROUP LTDKR180,00537.576,762,7562.07
SIAM CEMENT PCL-NVDRTH105,72315.731,663,2720.51
SIAM CEMENT PUB CO-FOR REGTH98,96015.671,551,0330.47
SOUTHERN COPPER CORPUS125,07929.183,649,8051.12
TAIWAN SEMICONDUCTOR MANUFACTW2,338,1134.6510,866,5243.32
TELEKOMUNIKASI INDONESIA PERID22,334,294.224,924,6201.51
TENARIS SA-ADRLU168,15328.004,708,2841.44
TENCENT HOLDINGS LTDCN224,19118.994,257,3691.30
TEVA PHARMACEUTICAL-SP ADRIL56,62162.303,527,4881.08
THAI OIL PCL-NVDRTH1,825,3621.602,913,3870.89
THE FOSCHINI GROUP LTDZA276,79214.874,115,3241.26
TINGYI (CAYMAN ISLN) HLDG COCN1,160,3002.152,498,1320.76
TOTVS SABR149,46611.481,716,3850.53
TOUCHSTONE-I MMUS6,121,4601.006,121,4601.87
TUPRAS-TURKIYE PETROL RAFINETR58,09523.691,376,3660.42
TURKCELL ILETISIM HIZMET ASTR615,9565.133,159,2890.97
TURKIYE GARANTI BANKASITR655,9363.262,139,0640.65
UNITED PHOSPHORUS LTDIN765,2487.075,406,6421.65
VALE SA-PREFBR67,4634.85327,2160.10
VALE SA-SP ADRBR139,7515.65789,5930.24
VTECH HOLDINGS LTDHK326,15214.254,647,6731.42
WALMART DE MEXICO SAB DE CVMX1,941,0792.494,836,9501.48
WEICHAI POWER CO LTD-HCN1,647,9973.866,353,8891.94
WHARF HOLDINGS LTDHK774,5256.985,406,8401.65
WOOLWORTHS HOLDINGS LTDZA946,2797.096,708,8592.05
Top 10 Holdings as of 4/30/2015
Security Description
% of
Portfolio
1. SAMSUNG ELECTRONICS CO LTD4.6
2. IND & COMM BK OF CHINA-H3.7
3. TAIWAN SEMICONDUCTOR MANUFAC3.4
4. BHARAT FORGE LIMITED2.9
5. SABMILLER PLC2.5
6. CREDICORP LTD2.3
7. GRUPO FINANCIERO BANORTE-O2.3
8. SHINHAN FINANCIAL GROUP LTD2.2
9. BANCO BRADESCO SA-PREF2.2
10. BNK FINANCIAL GROUP INC2.2

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.