Touchstone Sands Capital Emerging Markets Growth Fund
Sub-Advised by: Sands Capital Management LLC

Portfolio Characteristics as of 3/31/2018
Market Capitalization $87.9 Billion
Price Earnings Ratio135.2
Number of Holdings ^50

1 The Price Earnings Ratio (P/E ratio) is the ratio for valuing a company that measures its current share price relative to its per-share earnings.

^ Total number of holdings includes cash equivalents

Sector Allocation as of 3/31/2018(% of Portfolio)
Consumer Discretionary28.8
Information Technology28.7
Financials11.4
Consumer Staples11.1
Industrials9.0
Health Care8.7
Real Estate1.2
Materials1.2
Full Holdings as of 12/31/17
Security DescriptionCountryShares Par
Value
Current
Price ($)
Market
Value ($)
% of
Portfolio
ALIBABA GROUP HOLDING-SP ADRCN179,469172.4330,945,8406.33
AMOREPACIFIC CORPKR32,500284.439,244,0801.89
ANTA SPORTS PRODUCTS LTDCN3,010,0004.5413,657,5642.79
APOLLO HOSPITALS ENTERPRISEIN556,30018.8510,485,3832.14
ASIAN PAINTS LTDIN335,85018.136,087,5501.24
AVENUE SUPERMARTS LTDIN199,29918.463,679,9000.75
BAIDU INC - SPON ADRCN95,631234.2122,397,7374.58
BANK RAKYAT INDONESIA PERSERID39,819,900.2710,683,2092.18
BRAZIL REALBR1.300.00
BRITANNIA INDUSTRIES LTDIN77,90073.785,747,5321.18
CP ALL PCLTH5,441,8002.3612,857,2752.63
CREDICORP LTDPE37,064207.437,688,1861.57
CTRIP.COM INTERNATIONAL-ADRCN379,90044.1016,753,5903.43
DREYFUS-GOV C-INUS10,636,7551.0010,636,7552.17
EICHER MOTORS LTDIN20,885474.219,903,8642.02
EUROPEAN CURRENCYEU1.200.00
GRUPO AEROPORTUARIO SUR-ADRMX35,095182.516,405,1881.31
HDFC BANK LIMITEDIN396,40029.3511,633,9402.38
HONG KONG DOLLARHK31.1340.00
HOUSING DEVELOPMENT FINANCEIN766,90026.7820,536,5454.20
IHH HEALTHCARE BHDMY3,553,3001.455,145,1291.05
INDIA RUPEEIN117,763,260.021,845,0240.38
INDUSIND BANK LTDIN379,71925.839,809,5442.01
INTL CONTAINER TERM SVCS INCPH3,247,4202.116,863,0371.40
ITC LTDIN1,267,3004.125,226,8491.07
JUBILANT FOODWORKS LTDIN504,60027.5913,922,6992.85
LARSEN & TOUBRO LTDIN469,80019.699,250,7121.89
MAGNIT PJSC-SPON GDR REGSRU203,80027.355,573,9301.14
MAIL.RU GROUP-GDR REGSRU249,60028.907,213,4401.47
MAKEMYTRIP LTDIN364,60029.8510,883,3102.23
MARUTI SUZUKI INDIA LTDIN55,250152.278,412,8851.72
MEDY-TOX INCKR33,675452.9415,252,9143.12
MERCADOLIBRE INCAR51,300314.6616,142,0583.30
MUNDRA PORT AND SEZ LIMITEDIN3,045,6006.3419,311,3703.95
NAGACORP LTDKH8,194,000.776,328,3811.29
NASPERS LTD-N SHSZA130,800277.0536,238,5767.41
NETSHOES CAYMANBR226,6007.901,790,1400.37
NOVUS HOLDINGS LTDZA1.480.00
RAIA DROGASIL SABR477,20027.6713,206,4032.70
SANDS CHINA LTDMO2,377,0005.1512,234,9972.50
SEA LTD-ADRSG328,70013.334,381,5710.90
SILOAM INTERNATIONAL HOSPITAID6,971,618.714,920,0841.01
SM PRIME HOLDINGS INCPH9,329,200.757,008,1131.43
SOUTH AFRICA RANDZA6,263.085060.00
SUNNY OPTICAL TECHCN289,00012.703,669,5070.75
TAIWAN SEMICONDUCTOR-SP ADRTW307,94039.6512,209,8212.50
TENCENT HOLDINGS LTDCN257,80051.7613,343,2012.73
UNITED KINGDOM POGB41.3550.00
YANDEX NV-ANL525,30032.7517,203,5753.52
ZEE ENTERTAINMENT ENTERPRISEIN1,356,4009.1212,363,8482.53
Top 10 Equity Holdings as of 3/31/2018
Security Description
% of
Portfolio
1. ALIBABA GROUP HOLDING LTD.6.7
2. NASPERS LTD.6.5
3. MEDY TOX INC.4.9
4. BAIDU INC.4.8
5. YANDEX NV4.7

Data may not total due to rounding.

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.