Touchstone Ohio Tax-Free Money Market Fund Sub-Advised by: Fort Washington Investment Advisors Inc.

Objective

The Fund seeks the highest level of current income exempt from federal income tax and Ohio personal income tax, consistent with liquidity and stability of principal by investing primarily in high-quality, short-term Ohio municipal obligations. The Fund is a money market fund, which seeks to maintain a constant share price of $1.00 per share.

Investment Style

    The Fund invests in high-quality, short-term Ohio municipal obligations issued by the State of Ohio, its agencies and municipalities that pay interest that is exempt from both federal income tax and Ohio personal income tax. The Fund's investments may include:

  • Tax-exempt bonds, including general obligation bonds, revenue bonds and industrial development bonds
  • Tax-exempt notes
  • Tax-exempt commercial paper
  • Floating and variable rate municipal obligations

An investment in the Fund is neither insured nor guaranteed by the Federal Deposit Insurance Corporation, the U.S. Treasury or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, there is no guarantee it will be able to do so. It is possible to lose money by investing in the Fund. There is also no guarantee that the Fund will be able to avoid a negative yield.

The yield of the Fund will vary day to day due to changes in interest rates. Adverse developments affecting an issuer or deterioration in the financial condition of an issuer and/or general economic conditions can cause the issuer to not make timely payments of principal and interest also causing the securities to decline in value. The Fund invests inmunicipal securities which may be affected by uncertainties in themunicipal market related to legislation or litigation involving the taxation ofmunicipal securities or the rights ofmunicipal security holders in the event of bankruptcy and may not be able tomeet their obligations. Political and economic conditions in the State of Ohio may impact the value of Ohiomunicipal obligations which may lose value due to decreased economic growth, increased unemployment and decreased tax revenue. The Fund may focus its investments in the securities of a particular bond market sector which will have a greater impact on the Fund than a fund that does not focus its investments. 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. The advisor engages the sub-advisor tomanage the Fund's portfolio; the sub-advisor's judgment may impact the Fund's performance.

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Select Share Class:A INST

Fund Facts as of 9/30/2014

Inception Date9/22/1987
NASDAQ SymbolTOHXX
CUSIP89154V207
Prospectus Date10/30/2013

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 at TouchstoneInvestments.com/literature-center 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.