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

Portfolio Characteristics as of 9/30/2014
Market Capitalization $28.9 Billion
Price Earnings Ratio13.0
Beta(vs Benchmark)10.92
Number of Holdings71
Active Share81

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

Top Country Allocation as of 9/30/2014(% of Portfolio)
China / Hong Kong17.6
South Korea13.1
India12.7
Brazil10.4
Mexico7.7
South Africa5.7
Taiwan5.7
Thailand4.7
United Kingdom3.8
Malaysia3.2
Full Holdings as of 9/30/2014
TickerSecurity DescriptionCountryShares Par
Value
Current
Price ($)
Market
Value ($)
% of
Portfolio
AMXAMERICA MOVIL-ADR SERIES LMX184,47525.204,648,7701.34
522ASM PACIFIC TECHNOLOGYHK84,8439.90839,7050.24
AEGAVENG LTDZA1,015,4041.971,999,7140.58
BBDC4BANCO BRADESCO SA-PREFBR449,83014.306,432,0501.85
BMRIBANK MANDIRI PERSERO TBK PTID3,831,520.833,168,0400.91
NBHFCBHARAT FORGE LIMITEDIN491,77113.336,555,6201.89
NBHARTIBHARTI AIRTEL LIMITEDIN522,0956.563,425,4030.99
ROTHBRITISH AMERICAN TOBACCO BHDMY338,00321.497,263,8962.09
138930BS FINANCIAL GROUP INCKR501,72916.028,035,2712.32
3983CHINA BLUECHEMICAL LTD - HCN6,607,931.432,867,8890.83
688CHINA OVERSEAS LAND & INVESTHK2,632,8592.576,774,6991.95
CIMBCIMB GROUP HOLDINGS BHDMY1,750,8932.143,752,1041.08
883CNOOC LTDCN4,028,6771.726,910,8841.99
BAPCREDICORP LTDPE51,108153.397,839,4562.26
210DAPHNE INTERNATIONAL HOLDINGCN7,634,070.513,863,8091.11
1476ECLAT TEXTILE COMPANY LTDTW299,9969.092,726,8330.79
ELDELDORADO GOLD CORPCA272,2026.741,835,0150.53
ENERSISENERSIS SACL18,209,479.325,780,2751.67
142FIRST PACIFIC COHK3,706,4641.043,861,6711.11
FMXFOMENTO ECONOMICO MEX-SP ADRMX53,63292.054,936,8261.42
GGBR4GERDAU SA-PREFBR473,0284.812,274,5540.66
9921GIANT MANUFACTURINGTW981,3307.797,645,5962.20
GFNORTEOGRUPO FINANCIERO BANORTE-OMX1,028,2386.406,584,9191.90
161390HANKOOK TIRE CO LTDKR146,02848.807,126,6922.05
HCLTHCL TECHNOLOGIES LTDIN143,10027.763,973,1341.14
1398IND & COMM BK OF CHINA-HCN14,374,861.628,960,1642.58
ITCITC LTDIN1,129,3515.996,769,5231.95
KBANK/FKASIKORNBANK PCL-FOREIGNTH523,7167.223,779,4771.09
KPLDKEPPEL LAND LTDSG1,275,1892.743,498,5981.01
270KIA MOTORS CORPKR121,70950.896,193,5781.78
KIMBERAKIMBERLY-CLARK DE MEXICO-AMX1,418,0942.363,346,0700.96
KOMBKOMERCNI BANKA ASCZ23,474237.945,585,4141.61
RENT3LOCALIZA RENT A CARBR213,17814.373,063,8760.88
LAME4LOJAS AMERICANAS SA-PREFBR1,059,3855.676,007,2571.73
LPCLUPIN LTDIN238,40823.975,713,5311.65
MMMAHINDRA & MAHINDRA LTDIN224,73722.034,951,7831.43
MTNMTN GROUP LTDZA282,99521.125,977,5651.72
ODPV3ODONTOPREV S.A.BR1,603,2933.625,803,3611.67
NONGCOIL & NATURAL GAS CORP LTDIN756,5176.625,004,4531.44
PETR4PETROBRAS - PETROLEO BRAS-PRBR395,0197.442,937,1240.85
857PETROCHINA CO LTD-HCN3,035,4481.283,889,6701.12
5490POSCOKR11,560311.303,598,6351.04
PTTEP/FPTT EXPLORATION & PROD-FORTH1,304,6694.936,437,8421.85
GOLDRANDGOLD RESOURCES LTD-ADRJE62,31967.594,212,1411.21
RILRELIANCE INDUSTRIES LTDIN330,75115.315,064,6251.46
SABSABMILLER PLCGB161,89555.578,996,9392.59
5930SAMSUNG ELECTRONICS CO LTDKR12,0101122.0113,475,3283.88
55550SHINHAN FINANCIAL GROUP LTDKR144,08746.066,635,9901.91
SCCRSIAM CEMENT PCL-NVDRTH106,92513.881,483,9240.43
SCC/FSIAM CEMENT PUB CO-FOR REGTH100,71213.881,397,6990.40
SCCOSOUTHERN COPPER CORPUS36,67029.651,087,2660.31
2330TAIWAN SEMICONDUCTOR MANUFACTW2,364,0553.949,325,8142.69
TLKMTELEKOMUNIKASI INDONESIA PERID22,653,370.245,419,3331.56
TSTENARIS SA-ADRLU171,68245.557,820,1152.25
TEVATEVA PHARMACEUTICAL-SP ADRIL57,66553.753,099,4940.89
TOPRTHAI OIL PCL-NVDRTH1,849,5511.592,937,6060.85
TFGTHE FOSCHINI GROUP LTDZA561,77510.395,835,4591.68
322TINGYI (CAYMAN ISLN) HLDG COCN1,172,4002.633,080,1570.89
TOTS3TOTVS SABR338,09315.185,131,3061.48
TINXXTOUCHSTONE-I MMUS2,403,5001.002,403,5000.69
TUPRSTUPRAS-TURKIYE PETROL RAFINETR59,49920.101,195,7040.34
TCELLTURKCELL ILETISIM HIZMET ASTR624,6285.233,265,0600.94
GARANTURKIYE GARANTI BANKASITR922,3793.513,241,3220.93
NUNTPUNITED PHOSPHORUS LTDIN447,2925.542,476,9080.71
VALE5VALE SA-PREFBR294,4679.722,860,7600.82
VALEVALE SA-SP ADRBR142,05611.011,564,0370.45
303VTECH HOLDINGS LTDHK580,67712.347,164,1892.06
WALMEXVWALMART DE MEXICO-SER VMX2,764,7552.526,957,9482.00
2338WEICHAI POWER CO LTD-HCN1,878,9463.616,787,5661.96
4WHARF HOLDINGS LTDHK782,9967.115,566,2861.60
WHLWOOLWORTHS HOLDINGS LTDZA961,8896.205,960,0421.72
Top 10 Holdings as of 9/30/2014
Security Description
% of
Portfolio
1. SAMSUNG ELECTRONICS CO. LTD.3.9
2. TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD.2.7
3. SABMILLER PLC2.6
4. INDUSTRIAL & COMMERCIAL BANK OF CHINA LTD.2.6
5. BS FINANCIAL GROUP INC.2.3
6. CREDICORP LTD.2.3
7. TENARIS SA2.3
8. GIANT MANUFACTURING CO., LTD.2.2
9. BRITISH AMERICAN TOBACCO PLC2.1
10. VTECH HOLDINGS LTD.2.1

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.