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.

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Touchstone International Value Fund

Objective

The Fund seeks long-term capital growth by primarily investing in equity securities of non-U.S. companies.

Investment Style

  • Utilizes traditional methods of stock selection, research and analysis, to identify non-U.S. securities believed to be undervalued and searches for companies that have price-to-earnings and price-to-book ratios below the market, free cash flow ratios at or below the market, and dividend yields above the market
  • Focuses on companies that are out of favor due to internal or external challenges judged to be short-term in nature
  • Seeks to identify the reasons for a temporary undervaluation of a company's shares and believes that value can be added through individual stock selection
  • Utilizes risk management tools in an effort to prevent overexposure to particular market segments
  • Stock selection is driven by fundamental securities analysis on individual companies rather than by broad market themes
A Word About Risk

The Fund invests in equities which are subject to market volatility and loss. The Fund invests in foreign and emerging market securities which carry the associated risks of economic and political instability, market liquidity, currency volatility and differences in accounting standards. The Fund invests in stocks of large-cap companies which may be unable to respond quickly to new competitive challenges. The Fund invests in stocks of small- and mid-cap companies, which may be subject to more erratic market movements than stocks of larger, more established companies. The Fund invests in value stocks which may not appreciate in value as anticipated or experiences a decline in value. The Fund may experience higher portfolio turnover which may lead to increased fund expenses, lower investment returns, and higher short-term capital gains taxable to shareholders. Dividend issuing companies may choose not to pay a dividend or the dividend may be less than anticipated. Current and future portfolio holdings are subject to risk. The advisor engages the sub-advisor to manage the Fund's portfolio; the sub-advisor's judgment may impact the Fund's performance.

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Select Share Class:  A  |  C  |  Y  |  INST

Fund Facts

A Shares
NASDAQ Symbol FSIEX
CUSIP 89154Q661
Touchstone Fund Number 2813
Portfolio Turnover Rate1 133%
Total Annual Fund Operating Expense Ratio2 2.22%
Net Annual Fund Operating Expense Ratio2 1.39%
Total Net Assets as of 3/31/2014 $6,032,148
Inception Date 8/18/1994

Fiscal Year End March 31st
Benchmark MSCI EAFE Index3
Prospectus Date 7/30/2013

1 Annualized as of 3/31/2013

2 Touchstone Advisors has contractually agreed to waive a portion of its fees and/or reimburse certain Fund expenses in order to limit annual fund operating expenses (excluding Acquired Fund Fees and Expenses "AFFE") to 1.39% for Class A Shares, 2.14% for Class C Shares, 1.14% for Class Y Shares and 0.99% for Class INST Shares. These expense limitations will remain in effect until at least 07/29/14.

3 The MSCI EAFE Index is a free float-adjusted market capitalization index that is designed to measure developed market equity performance excluding the U.S. and Canada. Investing in an index is not possible.

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.

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.