Touchstone Emerging Markets Small Cap Fund Sub-Advised by: Copper Rock Capital Partners LLC*

Portfolio Characteristics as of 12/31/2017
Market Capitalization $2.6 Billion
Price Earnings Ratio114.1
Number of Holdings ^88

^ Total number of holdings includes cash equivalents

Top Country Allocation as of 12/31/2017(% of Portfolio)
China17.2
Taiwan15.8
Korea14.2
India13.9
Brazil8.8
Thailand5.6
Mexico3.9
South Africa3.5
Malaysia2.6
Russia2.5
Full Holdings as of 12/31/2017
Security DescriptionCountryShares Par
Value
Current
Price ($)
Market
Value ($)
% of
Portfolio
AIRASIA BHDMY202,900.83167,9551.24
ALSEA SAB DE CVMX42,7003.27139,7241.03
AVI LTDZA16,5558.94147,9351.09
BANK TABUNGAN NEGARA PERSEROID677,700.26178,3221.32
BIZLINK HLDGS INC RTS 1/9/TW3122.307180.01
BIZLINK HOLDING INCUS15,0319.29139,6621.03
CAPITAL FIRST LTDIN10,37110.82112,2640.83
CEAT LTDIN5,77230.56176,4181.30
CHINA GENERAL PLASTICSTW170,2891.09185,4051.37
CHINA RESOURCES CEMENTHK310,000.66203,9461.51
CHINA YONGDA AUTOMOBILES SERCN129,5001.15148,7181.10
DOUZONE BIZON CO LTDKR6,13431.04190,3691.41
DREYFUS-GOV C-INUS67,4661.0067,4660.50
E INK HOLDINGS INCTW106,0001.60169,9541.26
EDELWEISS FINANCIAL SERVICESIN28,9584.65134,7461.00
ELITE ADVANCED LASER CORPTW31,4004.33136,0561.01
EVRAZ PLCRU46,8884.59215,2391.59
EXIDE INDUSTRIES LTDIN51,1903.49178,7171.32
FLEURY SABR19,3008.93172,2811.27
FU SHOU YUAN INTERNATIONALCN129,000.85110,1300.81
GOURMET MASTER CO LTDTW15,47014.62226,1351.67
GRAPE KING BIO LTDTW16,0006.99111,8340.83
GRUPO AEROPORTUARIO DEL CENTMX22,4005.18116,0980.86
GUANGZHOU R&F PROPERTIES - HCN84,4002.25189,7561.40
HAITIAN INTERNATIONAL HLDGSCN58,0003.01174,4561.29
HANA MICROELECTRONICS PCTH97,0001.37132,4490.98
HYPERMARCAS SABR13,90010.85150,8551.11
HYUNDAI ENGINEERING & CONSTKR4,42833.91150,1441.11
IGUATEMI EMP DE SHOPPINGBR16,00011.87189,9971.40
INDRAPRASTHA GAS LTDIN37,8105.26198,9201.47
INNOCEAN WORLDWIDE INCKR2,29468.38156,8551.16
INTL CONTAINER TERM SVCS INCPH64,2202.11135,7211.00
INVENTEC CORPTW243,000.80193,3881.43
IOCHPE-MAXION S.A.BR20,2006.93140,0621.03
ISHARES MSCI EMERGING MKT SMUS1,27453.1167,6620.50
JAIN IRRIGATION SYSTEMS LTDIN88,4691.97173,9231.29
JUMBO SAGR9,33617.88166,9061.23
JUSUNG ENGINEERING CO LTDKR14,07412.64177,9301.31
KARNATAKA BANK LTDIN61,2352.37145,0481.07
KING YUAN ELECTRONICS CO LTDTW145,0001.01146,8921.09
KIWOOM SECURITIES CO LTDKR2,03381.75166,1901.23
KOH YOUNG TECHNOLOGY INCKR1,64877.06127,0000.94
KOREA PETRO CHEMICAL INDKR793246.15195,2011.44
KRUK SAPL1,93475.12145,2881.07
KRUNGTHAI CARD PCL-FOREIGNTH24,2005.71138,1161.02
L&T FINANCE HOLDINGS LTDIN61,7042.72167,8091.24
LOCALIZA RENT A CARBR16,1656.65107,5040.79
LOEN ENTERTAINMENT INCKR1,533105.09161,0971.19
LONKING HOLDINGS LTDCN440,000.44192,4631.42
MAGAZINE LUIZA SABR6,20024.18149,9391.11
MAGYAR TELEKOM TELECOMMUNICAHU55,6451.7798,4150.73
MALAYSIA AIRPORTS HLDGS BHDMY85,4002.17185,4871.37
METRO PACIFIC INVESTMENTS COPH1,139,500.14156,3621.16
MICRO-STAR INTERNATIONAL COTW60,0002.57153,9781.14
MODETOUR NETWORK INCKR4,48528.49127,7780.94
MUANGTHAI LEASING PCLTH108,7001.19129,2460.95
NATIONAL ALUMINIUM CO LTDIN82,8721.35111,6600.83
NMC HEALTH PLCAE2,49138.9597,0290.72
ORION CORP/REPUBLIC OF KOREAKR1,48297.61144,6631.07
POWERTECH TECHNOLOGY INCTW55,0002.95161,9781.20
PRIMAX ELECTRONICS LTDTW72,0002.64190,2641.41
PROMOTORA Y OPERADORA DE INFMX9,6909.8895,7390.71
QUALICORP SABR14,7009.35137,3791.02
RELIANCE CAPITAL LTDIN21,2889.05192,7021.42
RICHTER GEDEON NYRTHU7,31026.18191,3901.41
SANSIRI PCLTH2,803,700.07187,5441.39
SAPPI LIMITEDZA28,0537.23202,9291.50
SER EDUCACIONAL SABR15,0009.44141,5391.05
SHENZHEN INVESTMENT LTDHK346,000.41143,4871.06
SILICON WORKS CO LTDKR3,30349.22162,5651.20
STAR PETROLEUM REFININGTH333,200.52174,8301.29
SUNNY FRIEND ENVIRONMENTAL TTW19,0008.57162,8111.20
SUPER GROUP LTDZA38,0353.34127,1160.94
TARENA INTERNATIONAL INC-ADRCN9,99614.99149,8401.11
TCI CO LTDTW16,0009.64154,3091.14
TCS GROUP HOLDING -REG SCY6,77718.85127,7460.94
TEKFEN HOLDING ASTR42,8864.48192,3391.42
TERNIUM SA-SPONSORED ADRLU5,59131.59176,6201.30
TIANNENG POWER INTL LTDCN188,0001.04195,3911.44
TONGDA GROUP HOLDINGS LTDHK510,000.25129,9860.96
VALUE ADDED TECHNOLOGY CO LTKR5,09131.81161,9251.20
VIDEOCON D2H LTD -ADRIN11,3079.51107,5300.79
VOLTAS LTDIN17,09210.25175,2661.29
WASKITA KARYA PERSERO TBK PTID723,900.16117,9160.87
WEST CHINA CEMENT LTDCN1,256,000.15188,0901.39
XINYI GLASS HOLDINGS LTDHK164,0001.30213,1771.58
YANLORD LAND GROUP LTDSG157,1001.21190,2891.41
ZHEJIANG EXPRESSWAY CO-HCN96,0001.10105,5490.78
Top 10 Equity Holdings as of 12/31/2017
Security Description
% of
Portfolio
1. GOURMET MASTER CO. LTD.1.7
2. EVRAZ PLC1.6
3. XINYI GLASS HOLDINGS LTD.1.6
4. CHINA RESOURCES CEMENT HOLDINGS LTD.1.5
5. SAPPI LTD.1.5
6. INDRAPRASTHA GAS LTD.1.5
7. TIANNENG POWER INTERNATIONAL LTD.1.5
8. KOREA PETRO CHEMICAL IND. CO. LTD.1.5
9. INVENTEC CORP.1.4
10. RELIANCE CAPITAL LTD.1.4

Data may not total due to rounding.

Active Share measures the percentage of the Fund's holdings that differ from those of the benchmark. It is calculated by taking the sum of the absolute difference between all of the holdings and weights in the portfolio and those of the benchmark holdings and weights and dividing the results by two.

There is no guarantee that the Fund will continue to hold any one particular security or stay invested in any one particular sector. Holdings are subject to change.

The data illustrated for Touchstone Domestic Equity Funds – Morningstar is the source. For Russell index information – the Frank Russell Company is the source and owner. For MSCI index information- the MSCI is the source and owner. The data illustrated for Touchstone Fixed Income Funds, Diversified Income Funds, Alternative Investment Funds, International Equity Funds, Asset Allocation Funds and Money Market Funds – the fund’s sub-advisor is the source. Calculations for sectors and top holdings exclude cash equivalents. All holdings data is sourced from BNY Mellon Asset Servicing.

*Effective April 19, 2016, Copper Rock was appointed sub-advisor to the Touchstone Emerging Markets Equity Fund. Concurrent with this change, the Fund was renamed the Touchstone Emerging Markets Small Cap Fund and its Principal Investment Strategies, Principal Risks, and benchmark index have changed to reflect those of Touchstone Emerging Markets Small Cap Fund’s investment strategy.