Professor Martijn Cremers

“In order to outperform the benchmark, a fund needs to be different from the benchmark.”

- Professor Martijn Cremers, University of Notre Dame

A high degree of Active Share does not assure outperformance of a fund relative to its benchmark index.

Martijn Cremers joined the University of Notre Dame as Professor of Finance in 2012. Prior to that, he was a faculty member at Yale School of Management from 2002 – 2012 after obtaining his PhD in finance from the Stern School of Business at New York University. Hailing from the Netherlands, his undergraduate degree in Econometrics is from the VU University Amsterdam (1993-1997). Cremers’ research focuses on empirical issues in investments and corporate governance. His academic work has been published in top academic journals such as the Journal of Finance, the Review of Financial Studies and the Journal of Financial Economics.

March 2018
Touchstone Securities, Inc., has partnered with Professor Martijn Cremers to provide consulting services. Touchstone and Professor Martijn Cremers are independent of each other.

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 result by two. Index performance is not indicative of fund performance. Investing in an index is not possible. Active Share is not a performance measurement. There are no assurances that any strategy or investment approach will meet its objectives. This information should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. Past performance is not indicative of future results.

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.

Investment products offered are not FDIC insured, may lose value and have no bank guarantee.

Touchstone Funds are distributed by Touchstone Securities, Inc.*

*A registered broker-dealer and member FINRA/SIPC

Touchstone is a member of Western & Southern Financial Group

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TSF-2000-1803