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 (Including Maximum Sales Charge)

Select Share Class:  A  |  B  |  C  |  Y  |  Z  |  INST
Average Annual Total Returns: Excluding Sales Charge | Including Sales Charge

U.S. Equity Funds Including 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 - A Inception Date 9/30/2003 14.60% 10.01% 18.06% 5.27% 7.35% 3.43% 1.25% 10/30/2013
* Focused Fund - A Inception Date 9/30/2003 20.33% 15.29% 20.21% 8.46% 9.76% 1.91% 1.22% 7/30/2013
Growth Opportunities Fund - A Inception Date 9/29/1995 18.60% 11.14% 19.34% 6.81% 8.62% 1.37% 1.24% 7/30/2013
Large Cap Growth Fund - A Inception Date 12/19/1997 14.31% 9.76% 17.56% 6.69% 7.65% 1.32% 1.25% 7/30/2013
* Mid Cap Fund - A Inception Date 5/14/2007 9.57% 12.24% 20.24% 8.24% 10.93% 1.51% 1.25% 1/30/2014
Mid Cap Growth Fund - A Inception Date 10/3/1994 17.64% 8.50% 19.70% 7.64% 11.89% 1.41% 1.41% 7/30/2013
Mid Cap Value Fund - A Inception Date 9/30/2009 13.15% 9.68% -- -- 15.17% 1.30% 1.30% 1/30/2014
Premium Yield Equity Fund - A Inception Date 12/3/2007 6.31% 10.98% 17.31% -- 1.72% 1.30% 1.21% 1/30/2014
* Sands Capital Select Growth Fund - A Inception Date 11/15/2010 24.37% 16.84% 27.67% 9.44% 3.82% 1.37% 1.28% 1/30/2014
Small Cap Core Fund - A Inception Date 9/30/2009 8.73% 14.67% -- -- 17.94% 1.53% 1.38% 1/30/2014
Small Cap Growth Fund - A Inception Date 8/13/2001 15.48% 9.89% 23.21% 6.72% 10.45% 2.14% 1.45% 7/30/2013
* Small Cap Value Fund - A Inception Date 3/1/2011 15.38% 11.96% 20.35% 7.15% 10.21% 1.75% 1.38% 1/30/2014
Small Cap Value Opportunities Fund - A Inception Date 7/31/2003 31.01% 14.93% 21.24% 9.43% 12.71% 2.47% 1.51% 10/30/2013
* Value Fund - A Inception Date 7/31/2003 16.36% 12.84% 19.88% 5.46% 8.17% 1.41% 1.08% 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. The maximum front-end sales charge for Class A shares of Touchstone Equity Funds is 5.75%.

* The performance presented for Class A 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 Capital Growth Fund combines the performance of Class Y Shares, which were originally Class Z Shares, from the Fund's inception, 11/29/1996 to 9/22/2003, with the performance of this class of shares from its inception on 9/23/2003. The Touchstone Focused Fund combines the performance of Class Y Shares, which were originally Class Z Shares, from the Fund's inception, 2/12/1999 to 9/29/2003, with the performance of this class of shares from its inception on 9/30/2003. The Touchstone Mid Cap Fund combines the performance of Class Y shares from 1/2/03 to 5/13/07 with this class of shares from 5/14/07. 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. The Touchstone Value Fund combines the performance of Class Y Shares, which were originally Class Z Shares, from the Fund's inception, from the Fund's inception, 9/10/1998 to 6/30/2003, with the performance of this class of shares from its inception on 7/01/2003.

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 Sands Capital Select Growth Fund - Touchstone Advisors has contractually agreed to waive a portion of its fees and/or reimburse certain Fund expenses in order to limit other expenses to 0.25% for each Class of shares. This expense limitation 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.