Touchstone Total Return Bond Fund
Sub-Advised by: EARNEST Partners LLC


The Fund seeks current income by investing primarily in fixed income securities.

Investment Style

  • Seeks to maximize duration-adjusted total return by investing in market sectors or securities that are considered undervalued for their risk characteristics
  • Employs a bottom-up, three-step investment process: 'GAP' Framework analysis, fundamental security review, and portfolio risk management
  • Prefers to invest in securities of government programs and companies that have sustainable operating models by assessing an issue's sustainability profile including, but not limited to, support for economic development, home ownership and job creation
  • Seeks to be diversified according to issuer, sector and industry
  • Makes tactical allocations in an effort to enhance returns and diversification
  • Constructs a portfolio that strives to maximize yield while minimizing the risks inherent in fixed income investing
The Fund invests in debt securities which can lose their value as interest rates rise and are subject to credit risk which is the risk of deterioration in the financial condition of an issuer and/or general economic conditions that can cause the issuer to not make timely payments of principal and interest also causing the securities to decline in value and an investor can lose principal. When interest rates rise, the price of debt securities generally falls. Longer term securities are generally more volatile. The Fund invests in investment grade debt securities which may be downgraded by a Nationally Recognized Statistical Rating Organization (NRSRO) to below investment grade status. 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 and principal, may lack liquidity and has had more frequent and larger price changes than other debt securities. The Fund invests in U.S. government and agency securities which are neither issued nor guaranteed by the U.S. Treasury and are not guaranteed against price movements due to changing interest rates. The Fund invests in mortgage-backed securities and asset-backed securities which are subject to the risks of prepayment, defaults, changing interest rates and at times, the financial condition of the issuer. The Fund invests in mortgage dollar rolls which involve increased risk and volatility, as the securities the Fund is required to repurchase may be worth less than the securities that the Fund originally held. 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

INST Shares
Portfolio Turnover Rate118%
Total Annual Fund Operating Expense Ratio20.61%
Net Annual Fund Operating Expense Ratio20.51%
Total Net Assets as of 6/30/2018 $221,774,353
Inception Date8/1/2011
Fiscal Year EndSeptember 30th
BenchmarkBloomberg Barclays U.S. Aggregate Bond Index3
Prospectus Date1/30/2018

1 Annualized as of 9/30/2017

2 Touchstone Advisors has contractually agreed to waive a portion of its fees and/or reimburse certain Fund expenses in order to limit certain annual fund operating expenses (excluding Acquired Fund Fees and Expenses “AFFE,” and other expenses, if any) to 0.85% for Class A Shares, 1.60% for Class C Shares, 0.60% for Class Y Shares and 0.50% for Class INST Shares. These expense limitations will remain in effect until at least 01/29/19.

3 The Bloomberg Barclays U.S. Aggregate Bond Index is an unmanaged index comprised of U.S. investment grade, fixed rate bond market securities, including government, government agency, corporate and mortgage-backed securities between one and ten years.

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 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.