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» 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 Growth Allocation Fund


The Fund seeks to provide investors with capital appreciation by investing primarily in a diversified portfolio of affiliated underlying equity and fixed income funds.

Investment Style

  • This fund of funds primarily invests in a diversified portfolio of underlying equity and fixed income funds. The underlying funds, in turn, invest in a variety of U.S. and foreign equity and fixed income securities and may hold cash, cash equivalents and money market funds.
  • Seeks to develop an optimal model allocation among underlying funds using an analysis that looks at forecasted returns, standard deviations in historical returns, and the correlation of the performance of different market sectors.
  • The underlying funds are selected and weighted based on historical returns-based style analysis, holdings-based style analysis, manager interviews, relative and absolute performance, including correlations with other underlying funds as well as corresponding benchmarks, and historical volatility (the variability of returns from one period to the next).
  • Under normal circumstances, the Fund expects to allocate its assets among equity and fixed income funds as follows: Equity Fund Allocation: 90-100%; Fixed Income Fund Allocation: 0-10%.
A Word About Risk
The value of an investment in the Fund is based on the performance of the underlying funds in which it invests and the allocation of its assets among those funds. The Fund bears a proportionate amount of the expenses charged by the underlying funds. The Fund's ability to achieve its investment goal depends upon Ibbotson's skill in selecting the best mix of underlying funds. The principal risks of an investment in the Fund include the principal risks of investing in the underlying funds in addition to those of the Fund. The Fund invests in equities which are subject to market volatility and loss. The Fund invests in foreign and emerging market securities, and ADRs which carry the associated risks of economic and political instability, market liquidity, currency volatility and differences in accounting standards. The Fund invests in companies that are or expected to be the subject of a publicly announced transaction that may not be completed or may be completed on less favorable terms than originally expected. The Fund invests in debt securities which can lose their value as interest rates rise and are subject to the possibility of an issuer failing to make timely payments of principal or interest including the possibility of prepayment and an investor can lose principal. The Fund invests in non-investment grade debt securities which are considered speculative with respect to the issuers' ability to make timely payments of interest or principal and has in the past, had more frequent and larger price changes than other debt securities. The Fund invests in derivatives which are often more volatile than other investments and may magnify the Fund's gains or losses. 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
CUSIP 89154Q703
Touchstone Fund Number 3069
Portfolio Turnover Rate1 50%
Total Annual Fund Operating Expense Ratio2 2.04%
Net Annual Fund Operating Expense Ratio2 1.41%
Total Net Assets as of 3/31/2014 $28,932,319
Inception Date 9/30/2004

Fiscal Year End December 31st
Benchmark S&P 15003
Prospectus Date 4/30/2013

1 Annualized as of 12/31/2013

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 0.41% for Class A Shares, 1.16% for Class C Shares, 0.16% for Class Y Shares and 0.16% for Class INST Shares. These expense limitations will remain in effect until at least 04/29/14.

3 The Standard & Poor's Composite 1500 Index is an unmanaged, broad market index representing the large-cap, mid-cap, and small-cap segments of the U.S. equity market.

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.