I hereby represent that I:

» am an institutional investor that is a "qualified client" as that term is defined in Rule 205-3(d)(1) under the Investment Advisers Act of 1040, as amended; and

» have such knowledge and experience in financial and business matters that I am capable of evaluating the merits and risks of the investments that may be presented to me by Touchstone Investments.

Close I agree

Monthly Performance

Select Share Class:  A  |  C  |  Y  |  INST

Alternative Investment Funds Excluding Maximum Sales Charge

as of 3/31/2014

Total Returns
as of 3/31/2014
Average Annual Total Returns
as of 3/31/2014
Touchstone Funds 1
Month
3
Month
YTD 1
Year
3
Year
5
Year
10
Year
Since
Inception
Cumulative
Total
Arbitrage Fund - Y Inception 9/30/2013 -0.40% -0.20% -0.20% -- -- -- -- 0.10% 0.10%
Dynamic Equity Fund - Y Inception 7/1/1978 1.34% 1.80% 1.80% 13.17% 9.87% 10.74% 3.26% 8.67% 1,851.98%
Global Real Estate Fund - Y Inception 9/30/2009 0.31% 4.33% 4.33% 1.94% 7.94% -- -- 11.42% 62.64%
Merger Arbitrage Fund - Y Inception 8/9/2011 -0.28% -0.37% -0.37% 2.39% -- -- -- 4.64% 12.74%

Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The investment return and principal value of an investment in the Funds will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Returns are not annualized for periods of less than one year. Assumes reinvestment of all dividends and capital gains. Class Y shares are sold at NAV, without an initial sales charge and are not subject to a 12b-1 fee or CDSC, but may be subject to higher initial investment requirements than other classes of shares of a Fund.

Performance for all share classes will differ due to difference in sales charges and class expenses. Some performance does not include sales charges which, if imposed, would lower performance. From time to time, the investment advisor may waive some fees or reimburse expenses, which if not waived or reimbursed, would lower returns.

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/home/formslit/ or call Touchstone at 800.638.8194. Please read the prospectus and/or summary prospectus carefully before investing.