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

Quarterly Performance

Select Share Class:  A  |  B  |  C  |  Y  |  Z  |  INST

U.S. Equity Funds Excluding Maximum Sales Charge

as of 3/31/2014

  Average Annual Total Returns Annual Fund Operating Expenses  
Touchstone Funds 1
Year
3
Year
5
Year
10
Year
Since
Inception
Total Net Prospectus
Date
Capital Growth Fund - Y Inception Date 11/29/1996 21.89% 12.48% 19.75% 6.18% 8.00% 1.14% 1.00% 10/30/2013
Focused Fund - Y Inception Date 2/12/1999 27.95% 17.85% 21.94% 9.38% 10.47% 1.06% 0.97% 7/30/2013
* Growth Opportunities Fund - Y Inception Date 2/2/2009 26.23% 13.64% 21.09% 7.58% 9.05% 1.16% 0.99% 7/30/2013
* Large Cap Growth Fund - Y Inception Date 11/10/2004 21.62% 12.25% 19.27% 7.58% 8.19% 1.08% 0.99% 7/30/2013
Mid Cap Fund - Y Inception Date 1/2/2003 16.54% 14.80% 21.91% 9.10% 11.74% 1.10% 1.00% 1/30/2014
* Mid Cap Growth Fund - Y Inception Date 2/2/2009 25.17% 10.97% 21.44% 8.44% 12.31% 1.17% 1.17% 7/30/2013
Mid Cap Value Fund - Y Inception Date 9/30/2009 20.34% 12.14% -- -- 17.00% 1.05% 1.05% 1/30/2014
* Premium Yield Equity Fund - Y Inception Date 8/12/2008 13.07% 13.54% 18.99% -- 2.89% 1.05% 0.96% 1/30/2014
* Sands Capital Select Growth Fund - Y Inception Date 8/27/2004 32.36% 19.47% 29.49% 10.35% 4.45% 1.06% 1.03% 1/30/2014
Small Cap Core Fund - Y Inception Date 9/30/2009 15.71% 17.32% -- -- 19.88% 1.14% 1.13% 1/30/2014
Small Cap Growth Fund - Y Inception Date 2/1/1998 22.88% 12.36% 25.05% 7.61% 11.13% 1.78% 1.20% 7/30/2013
* Small Cap Value Fund - Y Inception Date 3/1/2011 22.70% 14.53% 22.02% 7.89% 10.83% 3.42% 1.13% 1/30/2014
Small Cap Value Opportunities Fund - Y Inception Date 7/25/2003 39.42% 17.55% 23.03% 10.38% 13.50% 1.30% 1.26% 10/30/2013
Value Fund - Y Inception Date 9/10/1998 23.79% 15.42% 21.64% 6.36% 8.85% 0.99% 0.83% 10/30/2013

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.

* The performance presented for Class Y shares combines the performance of an older class of shares from the Fund's inception with the performance of this class of shares from its inception. The Touchstone Growth Opportunities Fund combines the performance of Class A shares from 9/29/95 to 8/1/99 with this class of shares from 8/2/99. The Touchstone Large Cap Growth Fund combines the performance of Class A shares from 12/19/97 to 11/9/04 with this class of shares from 11/10/04. The Touchstone Mid Cap Growth Fund combines the performance of Class A shares from 10/3/94 to 2/1/09 with this class of shares from 2/2/09. The Touchstone Mid Cap Value Opportunities Fund combines the performance of Class Y Shares, which were originally Class Z Shares, from the Fund's inception, 6/4/2007 to 12/8/2008, with the performance of this class of shares from its inception on 12/9/2008. The Touchstone Premium Yield Equity Fund combines the performance of Class A shares from 12/3/07 to 8/11/08 with this class of shares from 8/12/08. The Touchstone Sands Capital Select Growth Fund combines the performance of Class Z Shares from the Fund's inception, 8/11/00, with the performance of this class of shares from its inception on 11/15/10. The Touchstone Small Cap Value Fund combines the performance of Class Z Shares from 3/4/02 to 2/28/11 with this class of shares from its inception on 3/1/11.

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.

Touchstone Capital Growth Fund - 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 to 1.25% for Class A Shares, 2.00% for Class C Shares, 1.00% for Class Y Shares and 0.90% for Class INST Shares. These expense limitations will remain in effect until at least 10/29/14.

Touchstone Focused Fund - 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 1.20% for Class A Shares, 1.95% for Class C Shares, 0.95% for Class Y Shares and 0.80% for Class INST Shares. These expense limitations will remain in effect until at least 07/29/14.

Touchstone Growth Opportunities Fund - 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 to 1.24% for Class A Shares, 1.99% for Class C Shares, 0.99% for Class Y Shares and 0.84% for Class INST Shares. These expense limitations will remain in effect until at least 07/29/14.

Touchstone Large Cap Growth Fund - 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 to 1.25% for Class A Shares, 2.00% for Class C Shares and 0.99% for Class Y Shares. These expense limitations will remain in effect until at least 07/29/14.

Touchstone Mid Cap Fund - 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 to 1.24% for Class A Shares, 1.99% for Class C Shares, 0.99% for Class Y Shares, 1.24% for Class Z Shares and 0.92% for Class INST Shares. These expense limitations will remain in effect until at least 01/29/15.

Touchstone Mid Cap Growth Fund - 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 to 1.43% for Class A Shares, 2.18% for Class C Shares, 1.18% for Class Y Shares and 1.03% for Class INST Shares. These expense limitations will remain in effect until at least 07/29/14.

Touchstone Mid Cap Value Fund - 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 1.29% for Class A Shares, 2.04% for Class C Shares, 1.04% for Class Y Shares and 0.89% for Class INST Shares. These expense limitations will remain in effect until at least 03/23/15.

Touchstone Premium Yield Equity Fund - 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 1.20% for Class A Shares, 1.95% for Class C Shares and 0.95% for Class Y Shares. These expense limitations will remain in effect until at least 01/29/15.

Touchstone Small Cap Core Fund - 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 to 1.38% for Class A Shares, 2.13% for Class C Shares, 1.13% for Class Y Shares and 1.05% for Class INST Shares. These expense limitations will remain in effect until at least 01/29/15.

Touchstone Small Cap Growth Fund - 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 to 1.44% for Class A Shares, 2.19% for Class C Shares, 1.19% for Class Y Shares and 1.04% for Class INST Shares. These expense limitations will remain in effect until at least 08/31/14.

Touchstone Small Cap Value Fund - 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 1.38% for Class A Shares, 2.13% for Class C Shares, 1.13% for Class Y Shares and 0.98% for Class INST Shares. These expense limitations will remain in effect until at least 03/23/15.

Touchstone Small Cap Value Opportunities Fund - 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 1.50% for Class A Shares, 2.25% for Class C Shares, 1.25% for Class Y Shares and 1.10% for Class INST Shares. These expense limitations will remain in effect until at least 10/29/14.

Touchstone Value Fund - 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 1.08% for Class A Shares, 1.83% for Class C Shares, 0.83% for Class Y Shares and 0.68% for Class INST Shares. These expense limitations will remain in effect until at least 10/29/14.