UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-03651
Touchstone Strategic Trust-March Funds
(Exact name of registrant as specified in charter)
303 Broadway, Suite 1100
Cincinnati, Ohio 45202-4203
(Address of principal executive offices) (Zip code)
E. Blake Moore, Jr.
303 Broadway, Suite 1100
Cincinnati, Ohio 45202-4203
(Name and address of agent for service)
Registrant's telephone number, including area code: 800-638-8194
Date of fiscal year end: March 31
Date of reporting period: March 31, 2022
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Reports to Stockholders.
(a) | The Report to Shareholders is attached herewith. |
Touchstone Strategic Trust |
Touchstone Flexible Income Fund |
Touchstone Focused Fund |
Touchstone Global ESG Equity Fund |
Touchstone Growth Opportunities Fund |
Touchstone Mid Cap Growth Fund |
Touchstone Sands Capital Emerging Markets Growth Fund |
Touchstone Strategic Income Opportunities Fund |
President
Touchstone Strategic Trust
Average Annual Total Returns** | |||
Touchstone Flexible Income Fund | 1 Year | 5 Years | 10 Years |
Class A | -4.93% | 2.12% | 3.14% |
Class C | -3.47% | 2.55% | 3.13% |
Class Y | -1.61% | 3.56% | 4.02% |
Institutional Class* | -1.45% | 3.68% | 4.11% |
Bloomberg U.S. Aggregate Bond Index | -4.15% | 2.14% | 2.24% |
* | The chart above represents performance of Class A shares only, which will vary from the performance of Class C shares, Class Y shares and Institutional Class shares based on the differences in sales loads and fees paid by shareholders in the different classes. The inception date of Institutional Class shares was September 10, 2012. Institutional Class shares performance information was calculated using the historical performance of Class Y shares for the periods prior to September 10, 2012. The returns have been restated for sales loads and fees applicable to Institutional Class shares. |
** | The average annual total returns shown above are adjusted for maximum sales loads and fees, if applicable. The maximum offering price per share of Class A shares is equal to the net asset value (“NAV”) per share plus a sales load equal to 3.36% of the NAV (or 3.25% of the offering price). Class C shares are subject to a contingent deferred sales charge (“CDSC”) of 1.00%. The CDSC will be assessed on an amount equal to the lesser of (1) the NAV at the time of purchase of the shares being redeemed or (2) the NAV of such shares being redeemed, if redeemed within a one-year period from the date of purchase. Class Y shares and Institutional Class shares are not subject to sales charges. |
Average Annual Total Returns** | |||
Touchstone Focused Fund | 1 Year | 5 Years | 10 Years |
Class A | 3.91% | 12.65% | 12.88% |
Class C* | 7.58% | 13.15% | 13.09% |
Class Y | 9.71% | 14.33% | 13.87% |
Institutional Class | 9.75% | 14.41% | 13.98% |
Russell 3000® Index | 11.92% | 15.40% | 14.28% |
S&P 500® Index | 15.65% | 15.99% | 14.64% |
* | The chart above represents performance of Class A shares only, which will vary from the performance of Class C shares, Class Y shares and Institutional Class shares based on the differences in sales loads and fees paid by shareholders in the different classes. The inception date of Class C shares was April 12, 2012. Class C shares performance information was calculated using the historical performance of Class Y shares for the periods prior to April 12, 2012. The returns have been restated for sales loads and fees applicable to Class C shares. |
** | The average annual total returns shown above are adjusted for maximum sales loads and fees, if applicable. The maximum offering price per share of Class A shares is equal to the net asset value (“NAV”) per share plus a sales load equal to 5.26% of the NAV (or 5.00% of the offering price). Class C shares are subject to a contingent deferred sales charge (“CDSC”) of 1.00%. The CDSC will be assessed on an amount equal to the lesser of (1) the NAV at the time of purchase of the shares being redeemed or (2) the NAV of such shares being redeemed, if redeemed within a one-year period from the date of purchase. Class Y shares and Institutional Class shares are not subject to sales charges. |
Average Annual Total Returns** | |||
Touchstone Global ESG Equity Fund | 1 Year | 5 Years | 10 Years |
Class A | -5.94% | 7.68% | 8.33% |
Class C | -2.71% | 8.05% | 8.30% |
Class Y | -0.74% | 9.23% | 9.25% |
Institutional Class* | -0.74% | 9.25% | 9.28% |
MSCI All Country World Index | 7.28% | 11.64% | 10.00% |
* | The chart above represents performance of Class A shares only, which will vary from the performance of Class C shares, Class Y shares and Institutional Class shares based on the differences in sales loads and fees paid by shareholders in the different classes. The inception date of Institutional Class shares was May 4, 2015. Institutional Class shares performance information was calculated using the historical performance of Class A shares for periods prior to May 4, 2015. The returns have been restated for sales loads and fees applicable to Institutional Class shares. |
** | The average annual total returns shown above are adjusted for maximum sales loads and fees, if applicable. The maximum offering price per share of Class A shares is equal to the net asset value (“NAV”) per share plus a sales load equal to 5.26% of the NAV (or 5.00% of the offering price). Class C shares are subject to a contingent deferred sales charge (“CDSC”) of 1.00%. The CDSC will be assessed on an amount equal to the lesser of (1) the NAV at the time of purchase of the shares being redeemed or (2) the NAV of such shares being redeemed, if redeemed within a one-year period from the date of purchase. Class Y shares and Institutional Class shares are not subject to sales charges. |
Average Annual Total Returns** | |||
Touchstone Growth Opportunities Fund | 1 Year | 5 Years | 10 Years |
Class A | 4.96% | 17.58% | 14.45% |
Class C | 8.77% | 18.09% | 14.44% |
Class Y | 10.75% | 19.28% | 15.43% |
Institutional Class | 10.84% | 19.40% | 15.54% |
Russell 3000® Growth Index | 12.86% | 20.16% | 16.64% |
* | The chart above represents performance of Class A shares only, which will vary from the performance of Class C shares, Class Y shares and Institutional Class shares based on the differences in sales loads and fees paid by shareholders in the different classes. |
** | The average annual total returns shown above are adjusted for maximum sales loads and fees, if applicable. The maximum offering price per share of Class A shares is equal to the net asset value (“NAV”) per share plus a sales load equal to 5.26% of the NAV (or 5.00% of the offering price). Class C shares are subject to a contingent deferred sales charge (“CDSC”) of 1.00%. The CDSC will be assessed on an amount equal to the lesser of (1) the NAV at the time of purchase of the shares being redeemed or (2) the NAV of such shares being redeemed, if redeemed within a one-year period from the date of purchase. Class Y shares and Institutional Class shares are not subject to sales charges. |
Average Annual Total Returns** | |||
Touchstone Mid Cap Growth Fund | 1 Year | 5 Years | 10 Years |
Class A | 2.08% | 15.02% | 13.42% |
Class C | 5.76% | 15.45% | 13.40% |
Class Y | 7.65% | 16.66% | 14.38% |
Class R6* | 7.89% | 16.78% | 14.50% |
Institutional Class | 7.79% | 16.74% | 14.48% |
Russell Midcap® Growth Index | -0.89% | 15.10% | 13.52% |
* | The chart above represents performance of Class A shares only, which will vary from the performance of Class C shares, Class Y shares, Class R6 shares and Institutional Class shares based on the differences in sales loads and fees paid by shareholders in the different classes. The inception date of Class R6 shares was February 10, 2020. Class R6 shares performance information was calculated using the historical performance of Institutional Class shares for periods prior to February 10, 2020. The returns have been restated for fees applicable to Class R6 shares. |
** | The average annual total returns shown above are adjusted for maximum sales loads and fees, if applicable. The maximum offering price per share of Class A shares is equal to the net asset value (“NAV”) per share plus a sales load equal to 5.26% of the NAV (or 5.00% of the offering price). Class C shares are subject to a contingent deferred sales charge (“CDSC”) of 1.00%. The CDSC will be assessed on an amount equal to the lesser of (1) the NAV at the time of purchase of the shares being redeemed or (2) the NAV of such shares being redeemed, if redeemed within a one-year period from the date of purchase. Class Y shares, Class R6 shares and Institutional Class shares are not subject to sales charges. |
Average Annual Total Returns** | |||
Touchstone Sands Capital Emerging Markets Growth Fund | 1 Year | 5 Years | Since Inception* |
Class A* | -28.91% | 7.17% | 5.28% |
Class C* | -26.42% | 7.47% | 5.19% |
Class Y* | -24.89% | 8.57% | 6.25% |
Class R6* | -24.80% | 8.59% | 6.27% |
Institutional Class* | -24.81% | 8.66% | 6.34% |
MSCI Emerging Markets Index | -11.37% | 5.98% | 4.00% |
* | The chart above represents performance of Class A shares only, which will vary from the performance of Class C shares, Class Y shares, Class R6 shares and Institutional Class shares based on the differences in sales loads and fees paid by shareholders in the different classes. The inception date of Class A shares, Class C shares, Class Y shares, Class R6 shares and Institutional Class shares was November 16, 2018, November 16, 2018, May 9, 2014, April 26, 2021 and May 9, 2014, respectively. Class A shares and Class C shares performance information was calculated using the historical performance of Class Y shares for periods prior to November 16, 2018. Class R6 shares performance information was calculated using the historical performance of Class Y shares for periods prior to April 26, 2021. The returns have been restated for sales loads and fees applicable to Class A shares, Class C shares and Class R6 shares. The returns of the index listed above are based on the inception date of the Fund. |
** | The average annual total returns shown above are adjusted for maximum sales loads and fees, if applicable. The maximum offering price per share of Class A shares is equal to the net asset value (“NAV”) per share plus a sales load equal to 5.26% of the NAV (or 5.00% of the offering price). Class C shares are subject to a contingent deferred sales charge (“CDSC”) of 1.00%. The CDSC will be assessed on an amount equal to the lesser of (1) the NAV at the time of purchase of the shares being redeemed or (2) the NAV of such shares being redeemed, if redeemed within a one-year period from the date of purchase. Class Y shares, Class R6 shares and Institutional Class shares are not subject to sales charges. |
Average Annual Total Returns** | ||||
Touchstone Strategic Income Opportunities Fund* | 1 Year | 5 Years | 10 Years | Since Inception |
Class A | -7.75% | 1.75% | 2.71% | 5.46% |
Class C | -4.97% | 2.03% | 2.49% | 5.22% |
Class Y* | -2.97% | 2.98% | — | 2.90% |
Institutional Class* | — | — | — | -4.94% |
Bloomberg U.S. Aggregate Bond Index | -4.15% | 2.14% | 2.24% | 4.76% |
* | The chart above represents performance of Class A shares only, which will vary from the performance of Class C shares, Class Y shares and Institutional Class shares based on the differences in sales loads and fees paid by shareholders in the different classes. The inception date of Class Y shares and Institutional Class shares was January 29, 2015 and July 19, 2021, respectively. The returns of the Index are based on the inception date of the Predecessor Fund. |
** | The average annual total returns shown above are adjusted for maximum sales loads and fees, if applicable. Effective July 17, 2021, the maximum offering price per share of Class A shares is equal to the net assets value (“NAV”) per share plus a sales load equal to 3.36% of the NAV (or 3.25% of the offering price). Prior to July 17, 2021, the maximum offering price per share of Class A shares was equal to the NAV per share plus a sales load equal to 3.90% of the NAV (or 3.75% of the offering price).Class C shares are subject to a contingent deferred sales charge (“CDSC”) of 1.00%. The CDSC will be assessed on an amount equal to the lesser of (1) the NAV at the time of purchase of the shares being redeemed or (2) the NAV of such shares being redeemed, if redeemed within a one-year period from the date of purchase. Class Y shares and Institutional Class shares are not subject to sales charges. |
Credit Quality*(% of Fixed Income Securities) | |
AAA/Aaa | 37.6% |
AA/Aa | 1.0 |
A/A | 4.4 |
BBB/Baa | 12.8 |
BB/Ba | 4.6 |
B/B | 2.8 |
Not Rated | 36.8 |
Total | 100.0% |
Credit Quality*(% of Preferred Stocks) | |
A/A | 4.1% |
BBB/Baa | 58.1 |
BB/Ba | 31.4 |
B/B | 6.4 |
Total | 100.0% |
Sector Allocation**(% of Net Assets) | |
Fixed Income Securities | 63.6% |
Preferred Stocks | |
Financials | 7.6 |
Utilities | 2.1 |
Energy | 0.4 |
Communication Services | 0.2 |
Investment Funds | 8.2 |
Short-Term U.S. Treasury Obligations | 13.0 |
Short-Term Investment Funds | 4.5 |
Exchange-Traded Fund | (2.7) |
Other Assets/Liabilities (Net) | 3.1 |
Total | 100.0% |
Sector Allocation**(% of Net Assets) | |
Information Technology | 26.2% |
Health Care | 13.4 |
Consumer Discretionary | 13.1 |
Communication Services | 12.5 |
Financials | 12.2 |
Industrials | 9.1 |
Consumer Staples | 4.7 |
Real Estate | 3.1 |
Energy | 1.7 |
Materials | 1.4 |
Short-Term Investment Fund | 2.7 |
Other Assets/Liabilities (Net) | (0.1) |
Total | 100.0% |
Geographic Allocation(% of Net Assets) | |
Common Stocks | |
United States | 55.0% |
Japan | 8.6 |
France | 5.7 |
Sweden | 4.5 |
South Korea | 4.4 |
Germany | 4.0 |
United Kingdom | 3.9 |
Singapore | 2.5 |
China | 2.1 |
Switzerland | 1.9 |
India | 1.7 |
Italy | 1.7 |
Netherlands | 1.4 |
Denmark | 0.7 |
Thailand | 0.7 |
Short-Term Investment Funds | 3.9 |
Other Assets/Liabilities (Net) | (2.7) |
Total | 100.0% |
Sector Allocation*(% of Net Assets) | |
Information Technology | 42.8% |
Communication Services | 13.5 |
Consumer Discretionary | 11.5 |
Industrials | 10.1 |
Health Care | 10.1 |
Financials | 4.6 |
Consumer Staples | 2.4 |
Real Estate | 1.5 |
Materials | 1.5 |
Energy | 1.1 |
Short-Term Investment Fund | 1.0 |
Other Assets/Liabilities (Net) | (0.1) |
Total | 100.0% |
Sector Allocation*(% of Net Assets) | |
Information Technology | 35.2% |
Health Care | 18.1 |
Industrials | 15.2 |
Consumer Discretionary | 11.0 |
Financials | 8.1 |
Communication Services | 3.9 |
Real Estate | 3.2 |
Energy | 1.9 |
Materials | 1.3 |
Short-Term Investment Fund | 1.9 |
Other Assets/Liabilities (Net) | 0.2 |
Total | 100.0% |
Geographic Allocation(% of Net Assets) | |
Common Stocks | |
India | 29.6% |
China | 22.6 |
Taiwan | 13.3 |
Argentina | 10.3 |
Brazil | 8.1 |
Hong Kong | 3.8 |
South Korea | 3.2 |
Indonesia | 2.6 |
Thailand | 1.5 |
Kazakhstan | 1.0 |
Short-Term Investment Funds | 6.4 |
Other Assets/Liabilities (Net) | (2.4) |
Total | 100.0% |
Opportunities Fund
Credit Quality*(% of Fixed Income Securities) | |
AAA/Aaa | 9.9% |
A/A | 12.4 |
BBB/Baa | 48.1 |
BB/Ba | 15.3 |
B/B | 12.0 |
CCC | 1.7 |
Not Rated | 0.6 |
Total | 100.0% |
Sector Allocation**(% of Net Assets) | |
Corporate Bonds | 53.1% |
Asset-Backed Securities | 18.9 |
U.S. Treasury Obligations | 9.3 |
Common Stocks | |
Industrials | 1.0 |
Information Technology | 0.9 |
Health Care | 0.9 |
Financials | 0.9 |
Energy | 0.5 |
Materials | 0.4 |
Consumer Staples | 0.4 |
Communication Services | 0.4 |
Sovereign Government Obligations | 4.4 |
Commercial Mortgage-Backed Securities | 4.1 |
Preferred Stocks | |
Financials | 1.8 |
Real Estate | 0.3 |
Agency Collateralized Mortgage Obligations | 0.5 |
Rights | 0.0 |
Short-Term Investment Fund | 1.3 |
Other Assets/Liabilities (Net) | 0.9 |
Total | 100.0% |
Principal Amount | Market Value | |||
Agency Collateralized Mortgage Obligations — 30.8% | ||||
$ 47,369,327 | FHLMC Multifamily Structured Pass Through Certificates, Ser K109, Class X1, 1.582%, 4/25/30(A)(B)(C) | $ 4,890,272 | ||
34,511,276 | FHLMC Multifamily Structured Pass Through Certificates, Ser K110, Class X1, 1.697%, 4/25/30(A)(B)(C) | 3,766,895 | ||
7,005,157 | FHLMC Multifamily Structured Pass Through Certificates, Ser K110, Class X3, 3.404%, 6/25/48(A)(B)(C) | 1,551,303 | ||
28,800,000 | FHLMC Multifamily Structured Pass Through Certificates, Ser K110, Class XAM, 1.868%, 4/25/30(A)(B)(C) | 3,714,653 | ||
34,710,202 | FHLMC Multifamily Structured Pass Through Certificates, Ser K111, Class X1, 1.571%, 5/25/30(A)(B)(C) | 3,630,986 | ||
19,436,545 | FHLMC Multifamily Structured Pass Through Certificates, Ser K111, Class X3, 3.177%, 4/25/48(A)(B)(C) | 3,993,950 | ||
35,663,000 | FHLMC Multifamily Structured Pass Through Certificates, Ser K111, Class XAM, 1.797%, 5/25/30(A)(B)(C) | 4,482,293 | ||
66,877,526 | FHLMC Multifamily Structured Pass Through Certificates, Ser K112, Class X1, 1.432%, 5/25/30(A)(B)(C) | 6,449,655 | ||
15,300,000 | FHLMC Multifamily Structured Pass Through Certificates, Ser K112, Class X3, 3.002%, 7/25/48(A)(B)(C) | 3,046,206 | ||
10,630,000 | FHLMC Multifamily Structured Pass Through Certificates, Ser K112, Class XAM, 1.663%, 5/25/30(A)(B)(C) | 1,240,377 | ||
10,743,000 | FHLMC Multifamily Structured Pass Through Certificates, Ser K113, Class XAM, 1.590%, 6/25/30(A)(B)(C) | 1,202,525 | ||
19,500,000 | FHLMC Multifamily Structured Pass Through Certificates, Ser K114, Class X3, 2.736%, 8/25/48(A)(B)(C) | 3,503,352 | ||
21,702,896 | FHLMC Multifamily Structured Pass Through Certificates, Ser K115, Class X3, 2.958%, 9/25/48(A)(B)(C) | 4,249,920 | ||
26,000,000 | FHLMC Multifamily Structured Pass Through Certificates, Ser K116, Class X3, 3.021%, 9/25/47(A)(B)(C) | 5,259,998 | ||
39,700,000 | FHLMC Multifamily Structured Pass Through Certificates, Ser K117, Class XAM, 1.434%, 9/25/30(A)(B)(C) | 4,082,939 | ||
24,368,853 | FHLMC Multifamily Structured Pass Through Certificates, Ser K118, Class X3, 2.693%, 10/25/48(A)(B)(C) | 4,436,396 | ||
4,900,000 | FHLMC Multifamily Structured Pass Through Certificates, Ser K119, Class X3, 2.727%, 9/25/48(A)(B)(C) | 897,097 | ||
11,576,808 | FHLMC Multifamily Structured Pass Through Certificates, Ser K120, Class X3, 2.740%, 11/25/48(A)(B)(C) | 2,161,874 | ||
16,073,000 | FHLMC Multifamily Structured Pass Through Certificates, Ser K121, Class X3, 2.772%, 11/25/48(A)(B)(C) | 3,042,500 | ||
9,700,000 | FHLMC Multifamily Structured Pass Through Certificates, Ser K122, Class X3, 2.631%, 1/25/49(A)(B)(C) | 1,748,875 | ||
7,569,056 | FHLMC Multifamily Structured Pass Through Certificates, Ser K123, Class X3, 2.628%, 2/25/49(A)(B)(C) | 1,375,335 |
Principal Amount | Market Value | |||
Agency Collateralized Mortgage Obligations — 30.8% (Continued) | ||||
$ 9,255,000 | FHLMC Multifamily Structured Pass Through Certificates, Ser K124, Class X3, 2.620%, 2/25/49(A)(B)(C) | $ 1,689,119 | ||
16,150,000 | FHLMC Multifamily Structured Pass Through Certificates, Ser K125, Class X3, 2.654%, 2/25/49(A)(B)(C) | 2,994,643 | ||
38,058,448 | FHLMC Multifamily Structured Pass Through Certificates, Ser K127, Class X3, 2.654%, 3/25/49(A)(B)(C) | 7,111,385 | ||
18,230,000 | FHLMC Multifamily Structured Pass Through Certificates, Ser K128, Class X3, 2.789%, 4/25/31(A)(B)(C) | 3,584,565 | ||
10,595,456 | FHLMC Multifamily Structured Pass Through Certificates, Ser K130, Class X3, 3.096%, 8/25/48(A)(B)(C) | 2,398,504 | ||
41,864,611 | FHLMC Multifamily Structured Pass Through Certificates, Ser K130, Class XAM, 1.214%, 7/25/31(A)(B)(C) | 4,041,463 | ||
10,451,281 | FHLMC Multifamily Structured Pass Through Certificates, Ser K131, Class X3, 2.947%, 9/25/31(A)(B)(C) | 2,261,917 | ||
29,501,666 | FHLMC Multifamily Structured Pass Through Certificates, Ser K132, Class X3, 2.888%, 8/25/31(A)(B)(C) | 6,267,756 | ||
9,413,138 | FHLMC Multifamily Structured Pass Through Certificates, Ser K134, Class X3, 2.661%, 10/25/49(A)(B)(C) | 1,849,812 | ||
219,974,616 | FHLMC Multifamily Structured Pass Through Certificates, Ser K136, Class X1, 0.398%, 12/25/31(A)(B)(C) | 6,552,098 | ||
21,000,000 | FHLMC Multifamily Structured Pass Through Certificates, Ser K136, Class X3, 2.825%, 12/25/31(A)(B)(C) | 4,434,278 | ||
96,675,000 | FHLMC Multifamily Structured Pass Through Certificates, Ser K136, Class XAM, 0.567%, 12/25/31(A)(B)(C) | 4,493,802 | ||
19,801,000 | FHLMC Multifamily Structured Pass Through Certificates, Ser K137, Class X3, 2.780%, 1/25/49(A)(B)(C) | 4,257,015 | ||
31,585,759 | FHLMC Multifamily Structured Pass Through Certificates, Ser K139, Class X3, 3.140%, 2/25/49(A)(B)(C) | 7,195,002 | ||
97,300,000 | FHLMC Multifamily Structured Pass Through Certificates, Ser K139, Class XAM, 0.871%, 2/25/32(A)(B)(C) | 6,237,815 | ||
31,370,856 | FHLMC Multifamily Structured Pass Through Certificates, Ser K140, Class X3, 3.047%, 2/25/32(A)(B)(C) | 6,890,110 | ||
5,835,659 | FHLMC Multifamily Structured Pass Through Certificates, Ser K-1515, Class X3, 3.680%, 3/25/38(A)(B)(C) | 1,988,431 | ||
18,435,033 | FHLMC Multifamily Structured Pass Through Certificates, Ser K-1516, Class X3, 3.456%, 10/25/38(A)(B)(C) | 6,045,489 | ||
34,948,066 | FHLMC Multifamily Structured Pass Through Certificates, Ser K-1517, Class X1, 1.330%, 7/25/35(A)(B)(C) | 4,649,379 | ||
52,485,811 | FHLMC Multifamily Structured Pass Through Certificates, Ser K-1517, Class X3, 3.281%, 8/25/38(A)(B)(C) | 16,280,558 | ||
11,201,391 | FHLMC Multifamily Structured Pass Through Certificates, Ser K-1519, Class X3, 2.800%, 12/25/38(A)(B)(C) | 3,055,150 |
Principal Amount | Market Value | |||
Agency Collateralized Mortgage Obligations — 30.8% (Continued) | ||||
$ 54,937,438 | FHLMC Multifamily Structured Pass Through Certificates, Ser K-1520, Class X1, 0.472%, 2/25/36(A)(B)(C) | $ 2,644,254 | ||
5,000,000 | FHLMC Multifamily Structured Pass Through Certificates, Ser K-1520, Class X3, 3.092%, 4/25/39(A)(B)(C) | 1,457,401 | ||
54,072,888 | FHLMC Multifamily Structured Pass Through Certificates, Ser K-1521, Class X1, 0.981%, 8/25/36(A)(B)(C) | 5,437,499 | ||
15,100,238 | FHLMC Multifamily Structured Pass Through Certificates, Ser K739, Class X3, 2.811%, 11/25/48(A)(B)(C) | 1,928,832 | ||
16,196,664 | FHLMC Multifamily Structured Pass Through Certificates, Ser K741, Class X3, 2.448%, 3/25/49(A)(B)(C) | 1,909,666 | ||
16,000,000 | FHLMC Multifamily Structured Pass Through Certificates, Ser K742, Class X3, 2.595%, 4/25/28(A)(B)(C) | 2,115,920 | ||
9,500,000 | FHLMC Multifamily Structured Pass Through Certificates, Ser K743, Class X3, 2.955%, 6/25/49(A)(B)(C) | 1,443,710 | ||
39,018,396 | FHLMC Multifamily Structured Pass Through Certificates, Ser K744, Class X3, 2.967%, 8/25/49(A)(B)(C) | 6,181,255 | ||
47,774,075 | FHLMC Multifamily Structured Pass Through Certificates, Ser K745, Class X3, 2.674%, 9/25/49(A)(B)(C) | 6,969,038 | ||
146,903,000 | FHLMC Multifamily Structured Pass Through Certificates, Ser K745, Class XAM, 1.011%, 9/25/28(A)(B)(C) | 8,398,944 | ||
155,000,000 | FHLMC Multifamily Structured Pass Through Certificates, Ser K746, Class XAM, 0.586%, 10/25/28(A)(B)(C) | 5,330,543 | ||
52,159,495 | FHLMC Multifamily Structured Pass Through Certificates, Ser K747, Class X3, 2.550%, 12/25/49(A)(B)(C) | 7,541,501 | ||
31,882,039 | FRESB Mortgage Trust, Ser 2020-SB79, Class X1, 1.102%, 7/25/40(A)(B)(C) | 1,931,800 | ||
51,386,292 | FRESB Mortgage Trust, Ser 2020-SB81, Class X1, 1.062%, 10/25/40(A)(B)(C) | 3,253,795 | ||
42,195,992 | FRESB Mortgage Trust, Ser 2021-SB82, Class X1, 1.115%, 10/25/40(A)(B)(C) | 2,148,911 | ||
55,119,260 | FRESB Mortgage Trust, Ser 2021-SB83, Class X1, 0.876%, 1/25/41(A)(B)(C) | 2,674,337 | ||
33,213,530 | FRESB Mortgage Trust, Ser 2021-SB84, Class X1, 0.562%, 1/25/41(A)(B)(C) | 1,278,020 | ||
76,844,479 | FRESB Mortgage Trust, Ser 2021-SB85, Class X1, 0.407%, 3/25/41(A)(B)(C) | 2,654,808 | ||
92,288,227 | FRESB Mortgage Trust, Ser 2021-SB87, Class X1, 0.675%, 4/25/41(A)(B)(C) | 3,969,713 | ||
89,074,243 | FRESB Mortgage Trust, Ser 2021-SB88, Class X1, 0.726%, 5/25/41(A)(B)(C) | 3,705,489 | ||
133,398,666 | FRESB Mortgage Trust, Ser 2022-SB94, Class X1, 0.059%, 11/25/41(A)(B)(C) | 2,866,457 | ||
147,466,339 | FRESB Multifamily Structured Pass Through Certificates, Ser 2021-SB86, Class X1, 0.360%, 3/25/41(A)(B)(C) | 5,286,536 | ||
67,409,613 | FRESB Multifamily Structured Pass Through Certificates, Ser 2021-SB89, Class X1, 0.614%, 6/25/41(A)(B)(C) | 2,719,803 | ||
4,051,996 | GNMA, Ser 2012-147, Class IO, 0.559%, 4/16/54(A)(B)(C) | 61,795 |
Principal Amount | Market Value | |||
Agency Collateralized Mortgage Obligations — 30.8% (Continued) | ||||
$ 13,026,675 | GNMA, Ser 2016-110, Class IO, 0.948%, 5/16/58(A)(B)(C) | $ 620,549 | ||
21,878,728 | GNMA, Ser 2016-158, Class IO, 0.758%, 6/16/58(A)(B)(C) | 892,285 | ||
15,304,772 | GNMA, Ser 2016-52, Class IO, 0.752%, 3/16/58(A)(B)(C) | 585,844 | ||
21,130,827 | GNMA, Ser 2017-76, Class IO, 0.821%, 12/16/56(A)(B)(C) | 1,012,534 | ||
17,533,206 | GNMA, Ser 2017-94, Class IO, 0.584%, 2/16/59(A)(B)(C) | 698,334 | ||
Total Agency Collateralized Mortgage Obligations | $260,725,265 | |||
Corporate Bonds — 25.5% | ||||
Financials — 11.7% | ||||
10,242,000 | Ally Financial, Inc., Ser B, 4.700%(D) | 9,589,124 | ||
17,433,000 | Ally Financial, Inc., Ser C, 4.700%(D) | 15,864,030 | ||
3,378,000 | Bank of New York Mellon Corp. (The), Ser G, 4.700%(D) | 3,459,072 | ||
20,978,000 | Charles Schwab Corp. (The), Ser G, 5.375%(D)(E) | 21,607,340 | ||
6,485,000 | Citigroup, Inc., Ser W, 4.000%(D) | 6,241,812 | ||
12,391,000 | Citizens Financial Group, Inc., Ser F, 5.650%(D) | 12,887,260 | ||
6,506,000 | Fifth Third Bancorp, Ser L, 4.500%(D) | 6,392,145 | ||
7,844,000 | FS KKR Capital Corp., 2.625%, 1/15/27 | 7,193,733 | ||
13,936,000 | Regions Financial Corp., Ser D, 5.750%(D) | 14,510,860 | ||
1,559,000 | Truist Financial Corp., Ser Q, 5.100%(D) | 1,580,826 | ||
99,326,202 | ||||
Utilities — 6.7% | ||||
15,427,000 | Edison International, Ser A, 5.375%(D) | 14,883,198 | ||
14,958,000 | Pacific Gas and Electric Co., 3.250%, 2/16/24 | 14,898,610 | ||
26,867,000 | Sempra Energy, 4.875%(D)(E) | 27,001,335 | ||
56,783,143 | ||||
Energy — 5.1% | ||||
26,892,000 | BP Capital Markets PLC (United Kingdom), 4.875%(D) | 26,959,230 | ||
4,124,000 | Enbridge, Inc. (Canada), 2.150%, 2/16/24 | 4,073,480 | ||
4,302,000 | Energy Transfer LP, (3M LIBOR +3.018%), 3.334%, 11/1/66(B) | 3,577,543 | ||
5,566,000 | Energy Transfer LP, Ser G, 7.125%(D) | 5,454,680 | ||
3,352,000 | Energy Transfer LP, Ser H, 6.500%(D) | 3,294,346 | ||
43,359,279 | ||||
Consumer Discretionary — 2.0% | ||||
3,679,000 | Macy's Retail Holdings LLC, 144a, 5.875%, 3/15/30 | 3,640,241 | ||
4,176,000 | Macy's Retail Holdings LLC, 144a, 6.125%, 3/15/32 | 4,123,800 | ||
3,304,000 | Magallanes, Inc., 144a, 3.428%, 3/15/24 | 3,325,355 | ||
5,184,000 | Marriott Ownership Resorts, Inc., 144a, 6.125%, 9/15/25 | 5,313,600 | ||
16,402,996 | ||||
Total Corporate Bonds | $215,871,620 |
Shares | ||||
Preferred Stocks — 10.3% | ||||
Financials — 7.6% | ||||
648,929 | AGNC Investment Corp. REIT, Ser F, 6.125%(D)(E) | 15,139,513 | ||
526,082 | Annaly Capital Management, Inc. REIT, Ser I, 6.750%(D) | 13,004,747 | ||
128,065 | Bank of America Corp., Ser GG, 6.000%(D) | 3,334,813 | ||
118,512 | Hartford Financial Services Group, Inc. (The), 7.875%, 4/15/42 | 2,959,245 | ||
62,822 | JPMorgan Chase & Co., Ser LL, 4.625%(D) | 1,382,712 | ||
254,594 | National Rural Utilities Cooperative Finance Corp., Ser US, 5.500%, 5/15/64 | 6,588,893 | ||
290,000 | New Residential Investment Corp. REIT, Ser D, 7.000%(D) | 7,015,100 |
Shares | MarketValue | |||
Preferred Stocks — 10.3% (Continued) | ||||
Financials — (Continued) | ||||
190,088 | Reinsurance Group of America, Inc., 6.200%, 9/15/42 | $ 4,828,235 | ||
136,380 | Stifel Financial Corp., 5.200%, 10/15/47 | 3,391,771 | ||
190,829 | Virtus AllianzGI Convertible & Income Fund, Ser A, 5.625%(D) | 4,801,258 | ||
70,650 | Wells Fargo & Co., Ser Z, 4.750%(D)† | 1,566,310 | ||
64,012,597 | ||||
Utilities — 2.1% | ||||
349,698 | Brookfield Renewable Partners LP (Canada), Ser 17, 5.250%(D)† | 7,924,157 | ||
241,181 | Duke Energy Corp., Ser A, 5.750%(D) | 6,251,412 | ||
��� 129,791 | Entergy Louisiana LLC, 4.875%, 9/1/66 | 3,281,116 | ||
670 | Entergy New Orleans LLC, 5.000%, 12/1/52 | 16,790 | ||
17,473,475 | ||||
Energy — 0.4% | ||||
87,656 | Enbridge, Inc. (Canada), Ser 5, 5.375%(D) | 1,884,604 | ||
46,849 | Enbridge, Inc. (Canada), Ser J, 4.887%(D) | 1,040,048 | ||
32,865 | Enbridge, Inc. (Canada), Ser L, 4.959%(D) | 741,105 | ||
3,665,757 | ||||
Communication Services — 0.2% | ||||
69,235 | AT&T, Inc., 5.350%, 11/1/66 | 1,748,876 | ||
Total Preferred Stocks | $86,900,705 | |||
Investment Funds — 8.2% | ||||
243,314 | Allspring Income Opportunities± | 1,922,181 | ||
632,004 | BlackRock Corporate High Yield Fund, Inc.± | 6,806,683 | ||
67,704 | BlackRock Credit Allocation Income Trust± | 850,362 | ||
79,468 | BlackRock Debt Strategies Fund, Inc.± | 828,057 | ||
85,539 | BlackRock Ltd. Duration Income Trust± | 1,226,629 | ||
106,398 | BlackRock MuniHoldings Fund, Inc.± | 1,514,043 | ||
508,210 | BlackRock MuniVest Fund, Inc.±† | 4,146,994 | ||
172,804 | BlackRock MuniYield Quality Fund III, Inc.± | 2,168,690 | ||
57,063 | Cohen & Steers Ltd. Duration Preferred & Income Fund, Inc.± | 1,307,884 | ||
189,904 | Eaton Vance Municipal Bond Fund± | 2,183,896 | ||
88,974 | First Trust High Income Long/Short Fund± | 1,197,590 | ||
2,215 | First Trust Intermediate Duration Preferred & Income Fund± | 48,708 | ||
508,571 | Invesco Municipal Opportunity Trust± | 5,823,138 | ||
218,213 | Invesco Municipal Trust± | 2,511,632 | ||
1,496,043 | Invesco Senior Income Trust±† | 6,373,143 | ||
403,563 | Invesco Trust for Investment Grade Municipals± | 4,689,402 | ||
3,041 | Neuberger Berman High Yield Strategies Fund, Inc.± | 34,728 | ||
410,295 | Nuveen AMT-Free Quality Municipal Income Fund±† | 5,391,276 | ||
1,022,301 | Nuveen Credit Strategies Income Fund± | 6,317,820 | ||
271,927 | Nuveen Preferred & Income Opportunities Fund± | 2,333,134 | ||
136,877 | Nuveen Preferred & Income Securities Fund± | 1,149,767 | ||
348,195 | Nuveen Quality Municipal Income Fund± | 4,651,885 | ||
880,136 | Western Asset High Income Opportunity Fund, Inc.± | 3,934,208 | ||
126,382 | Western Asset High Yield Defined Opportunity Fund, Inc.± | 1,754,182 | ||
Total Investment Funds | $69,166,032 |
Principal Amount | ||||
Asset-Backed Securities — 6.0% | ||||
$ 830,236 | American Credit Acceptance Receivables Trust, Ser 2020-3, Class B, 144a, 1.150%, 8/13/24 | 829,979 | ||
283,010 | American Credit Acceptance Receivables Trust, Ser 2021-1, Class A, 144a, 0.350%, 5/13/24 | 282,895 | ||
652,000 | ARI Fleet Lease Trust, Ser 2018-B, Class A3, 144a, 3.430%, 8/16/27 | 648,954 |
Principal Amount | MarketValue | |||
Asset-Backed Securities — 6.0% (Continued) | ||||
$ 91,674 | Arivo Acceptance Auto Loan Receivables Trust, Ser 2019-1, Class A, 144a, 2.990%, 7/15/24 | $ 91,864 | ||
550,000 | Carmax Auto Owner Trust, Ser 2021-1, Class A3, 0.340%, 12/15/25 | 536,748 | ||
3,214,306 | Credit Acceptance Auto Loan Trust, Ser 2019-1A, Class C, 144a, 3.940%, 6/15/28 | 3,220,684 | ||
443,582 | Dell Equipment Finance Trust, Ser 2019-2, Class A3, 144a, 1.910%, 10/22/24 | 444,072 | ||
727,527 | Dell Equipment Finance Trust, Ser 2021-1, Class A2, 144a, 0.330%, 5/22/26 | 723,659 | ||
1,217,186 | Drive Auto Receivables Trust, Ser 2021-1, Class A3, 0.440%, 11/15/24 | 1,215,484 | ||
1,713,558 | DT Auto Owner Trust, Ser 2019-3A, Class C, 144a, 2.740%, 4/15/25 | 1,715,602 | ||
1,158,435 | Exeter Automobile Receivables Trust, Ser 2020-2A, Class B, 144a, 2.080%, 7/15/24 | 1,158,857 | ||
83,334 | Flagship Credit Auto Trust, Ser 2021-1, Class A, 144a, 0.310%, 6/16/25 | 82,739 | ||
735,865 | Freed ABS Trust, Ser 2020-FP1, Class B, 144a, 3.060%, 3/18/27 | 735,821 | ||
705,000 | GLS Auto Receivables Trust, Ser 2021-2A, Class C, 144a, 1.080%, 6/15/26 | 676,044 | ||
673,329 | Hyundai Auto Receivables Trust, Ser 2018-A, Class B, 3.140%, 6/17/24 | 673,752 | ||
812,454 | Hyundai Auto Receivables Trust, Ser 2018-B, Class A4, 3.290%, 1/15/25 | 815,025 | ||
3,500,000 | Mercedes-Benz Master Owner Trust, Ser 2019-BA, Class A, 144a, 2.610%, 5/15/24 | 3,505,732 | ||
276,531 | Mid-State Capital Corp. Trust, Ser 2005-1, Class M2, 7.079%, 1/15/40 | 284,881 | ||
6,567,816 | Mountain View CLO X Ltd. (Cayman Islands), Ser 2015-10A, Class AR, 144a, (3M LIBOR +0.820%), 1.064%, 10/13/27(B) | 6,562,713 | ||
969,582 | Palmer Square Loan Funding Ltd. (Cayman Islands), Ser 2019-1A, Class A1, 144a, (3M LIBOR +1.050%), 1.304%, 4/20/27(B) | 969,580 | ||
1,100,000 | Palmer Square Loan Funding Ltd. (Cayman Islands), Ser 2019-2A, Class C, 144a, (3M LIBOR +3.250%), 3.504%, 4/20/27(B) | 1,096,411 | ||
491,318 | Palmer Square Loan Funding Ltd. (Cayman Islands), Ser 2019-3A, Class A1, 144a, (3M LIBOR +0.850%), 1.330%, 8/20/27(B) | 490,850 | ||
1,190,418 | Palmer Square Loan Funding Ltd. (Cayman Islands), Ser 2019-4A, Class A1, 144a, (3M LIBOR +0.900%), 1.159%, 10/24/27(B) | 1,189,836 | ||
750,000 | Palmer Square Loan Funding Ltd. (Cayman Islands), Ser 2021-1A, Class B, 144a, (3M LIBOR +1.800%), 2.054%, 4/20/29(B) | 750,121 | ||
3,000,000 | Palmer Square Loan Funding Ltd. (Cayman Islands), Ser 2021-1A, Class D, 144a, (3M LIBOR +6.000%), 6.254%, 4/20/29(B) | 3,000,528 | ||
355,080 | Palmer Square Loan Funding Ltd. (Cayman Islands), Ser 2021-3A, Class A1, 144a, (3M LIBOR +0.800%), 1.054%, 7/20/29(B) | 353,966 | ||
3,799,899 | Pawneee Equipment Receivables LLC, Ser 2021-1, Class A1, 144a, 0.302%, 10/17/22 | 3,793,429 | ||
316,367 | Santander Drive Auto Receivables Trust, Ser 2020-4, Class A3, 0.480%, 7/15/24 | 316,268 | ||
100,000 | Santander Retail Auto Lease Trust, Ser 2019-B, Class C, 144a, 2.770%, 8/21/23 | 100,145 | ||
5,180,000 | Tesla Auto Lease Trust, Ser 2019-A, Class A4, 144a, 2.200%, 11/21/22 | 5,188,661 | ||
65,000 | Tesla Auto Lease Trust, Ser 2020-A, Class A4, 144a, 0.780%, 12/20/23 | 64,302 |
Principal Amount | MarketValue | |||
Asset-Backed Securities — 6.0% (Continued) | ||||
$ 1,024,166 | Verizon Owner Trust, Ser 2019-A, Class A1A, 2.930%, 9/20/23 | $ 1,027,264 | ||
3,613,381 | Verizon Owner Trust, Ser 2020-A, Class A1A, 1.850%, 7/22/24 | 3,614,426 | ||
857,185 | Welk Resorts LLC, Ser 2017-AA, Class A, 144a, 2.820%, 6/15/33 | 845,765 | ||
3,708,512 | Westlake Automobile Receivables Trust, Ser 2021-2A, 144a, 0.320%, 4/15/25 | 3,677,264 | ||
Total Asset-Backed Securities | $50,684,321 | |||
Non-Agency Collateralized Mortgage Obligations — 1.0% | ||||
60,697 | Bear Stearns Asset Backed Securities Trust, Ser 2003-AC7, Class A2, 5.750%, 1/25/34(B)(C) | 59,375 | ||
5,171 | Merrill Lynch Mortgage Investors Trust, Ser 2003-A1, Class 2A, (12M LIBOR +1.625%), 2.956%, 12/25/32(B) | 5,116 | ||
120,289 | Morgan Stanley Mortgage Loan Trust, Ser 2004-7AR, Class 2A6, 2.474%, 9/25/34(B)(C) | 123,438 | ||
9,757 | RALI Series Trust, Ser 2004-QS6, Class A1, 5.000%, 5/25/19 | 9,146 | ||
8,087,678 | Redwood Funding Trust, Ser 2020-1, Class A, 144a, 4.750%, 7/27/59(B)(C) | 8,079,353 | ||
Total Non-Agency Collateralized Mortgage Obligations | $8,276,428 | |||
Commercial Mortgage-Backed Securities — 0.3% | ||||
29,766,116 | BANK, Ser 2020-BN26, Class XA, 1.230%, 3/15/63(A)(B)(C) | 2,201,931 | ||
749,941 | VCC Trust, Ser 2020-MC1, Class A, 144a, 4.500%, 6/25/45(B)(C) | 749,941 | ||
Total Commercial Mortgage-Backed Securities | $2,951,872 | |||
Short-Term U.S. Treasury Obligations — 13.0% | ||||
20,000,000 | U.S. Treasury Bills, 0.260%, 5/10/22# | 19,995,667 | ||
40,000,000 | U.S. Treasury Bills, 0.513%, 8/4/22# | 39,889,097 | ||
25,000,000 | U.S. Treasury Bills, 0.730%, 9/8/22# | 24,899,611 | ||
25,000,000 | U.S. Treasury Bills, 1.144%, 2/23/23(E)# | 24,678,833 | ||
Total Short-Term U.S. Treasury Obligations | $109,463,208 |
Shares | ||||
Short-Term Investment Funds — 4.5% | ||||
37,937,720 | Dreyfus Government Cash Management, Institutional Shares, 0.19%∞Ω | 37,937,720 | ||
354,825 | Invesco Government & Agency Portfolio, Institutional Class, 0.25%∞Ω** | 354,825 | ||
Total Short-Term Investment Funds | $38,292,545 | |||
Total Short-Term Securities | $147,755,753 | |||
Total Long Positions—99.6% (Cost $872,546,389) | $842,331,996 | |||
Securities Sold Short — (2.7)% | ||||
Exchange-Traded Fund — (2.7)% | ||||
(50,000) | SPDR S&P 500 ETF Trust | (22,582,000) | ||
Total Securities Sold Short (Proceeds $21,817,364) | $(22,582,000) | |||
Total Investment Securities—96.9% | $819,749,996 | |||
Other Assets in Excess of Liabilities — 3.1% | 26,660,572 | |||
Net Assets — 100.0% | $846,410,568 |
(A) | Interest only security - This type of security represents the right to receive the monthly interest payments on an underlying pool of mortgages. Payments of principal on the pool reduce the value of the “interest only” holding. |
(B) | Variable rate security - Rate reflected is the rate in effect as of March 31, 2022. |
(C) | Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description. |
(D) | Perpetual Bond - A bond or preferred stock with no definite maturity date. |
(E) | All or a portion of these securities are pledged as collateral for securities sold short. The total value of the securities pledged as collateral as of March 31, 2022 was $88,427,022. |
± | Closed-end Fund. |
** | Represents collateral for securities loaned. |
† | All or a portion of the security is on loan. The total market value of the securities on loan as of March 31, 2022 was $348,419. |
# | Zero coupon bond - Rate shown reflects effective yield to maturity at time of purchase. |
∞ | Open-End Fund. |
Ω | Represents the 7-Day SEC yield as of March 31, 2022. |
Portfolio Abbreviations: |
ABS – Asset-Backed Security |
CLO – Collateralized Loan Obligation |
ETF – Exchange-Traded Fund |
FHLMC – Federal Home Loan Mortgage Corporation |
FRESB – Freddie Mac Multifamily Securitization Small Balance Loan |
GNMA – Government National Mortgage Association |
IO – Interest Only |
LIBOR – London Interbank Offered Rate |
LLC – Limited Liability Company |
LP – Limited Partnership |
PLC – Public Limited Company |
REIT – Real Estate Investment Trust |
S&P – Standard & Poor's |
SPDR – Standard & Poor's Depositary Receipt |
144a - This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144a of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At March 31, 2022, these securities were valued at $67,432,763 or 8.0% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees. |
Valuation Inputs at Reporting Date: | ||||
Description | Level 1 | Level 2 | Level 3 | Total |
Assets: | ||||
Agency Collateralized Mortgage Obligations | $— | $260,725,265 | $— | $260,725,265 |
Corporate Bonds | — | 215,871,620 | — | 215,871,620 |
Preferred Stocks | 86,900,705 | — | — | 86,900,705 |
Investment Funds | 69,166,032 | — | — | 69,166,032 |
Asset-Backed Securities | — | 50,684,321 | — | 50,684,321 |
Non-Agency Collateralized Mortgage Obligations | — | 8,276,428 | — | 8,276,428 |
Commercial Mortgage-Backed Securities | — | 2,951,872 | — | 2,951,872 |
Short-Term U.S. Treasury Obligations | — | 109,463,208 | — | 109,463,208 |
Short-Term Investment Funds | 38,292,545 | — | — | 38,292,545 |
Total Assets | $194,359,282 | $647,972,714 | $— | $842,331,996 |
Liabilities: | ||||
Securities Sold Short | ||||
Exchange-Traded Fund | $(22,582,000) | $— | $— | $(22,582,000) |
Total Liabilities | $(22,582,000) | $— | $— | $(22,582,000) |
Total | $171,777,282 | $647,972,714 | $— | $819,749,996 |
Shares | Market Value | |||
Common Stocks — 97.4% | ||||
Information Technology — 26.2% | ||||
433,946 | Apple, Inc. | $ 75,771,311 | ||
293,550 | Microsoft Corp. | 90,504,401 | ||
257,624 | Oracle Corp. | 21,313,234 | ||
96,771 | PayPal Holdings, Inc.* | 11,191,566 | ||
129,288 | salesforce, Inc.* | 27,450,428 | ||
268,610 | Smartsheet, Inc. - Class A* | 14,714,456 | ||
183,412 | SS&C Technologies Holdings, Inc. | 13,759,568 | ||
114,131 | Texas Instruments, Inc. | 20,940,756 | ||
100,160 | Visa, Inc. - Class A | 22,212,483 | ||
67,768 | Workday, Inc. - Class A* | 16,227,725 | ||
314,085,928 | ||||
Health Care — 13.4% | ||||
136,341 | AmerisourceBergen Corp. | 21,093,316 | ||
196,209 | BioMarin Pharmaceutical, Inc.* | 15,127,714 | ||
456,188 | Bristol-Myers Squibb Co. | 33,315,410 | ||
85,360 | HCA Healthcare, Inc. | 21,392,923 | ||
191,981 | Johnson & Johnson | 34,024,792 | ||
71,297 | UnitedHealth Group, Inc. | 36,359,331 | ||
161,313,486 | ||||
Consumer Discretionary — 13.1% | ||||
77,543 | Airbnb, Inc. - Class A* | 13,318,786 | ||
81,610 | Alibaba Group Holding Ltd. (China) ADR* | 8,879,168 | ||
15,555 | Amazon.com, Inc.* | 50,708,522 | ||
206,190 | Choice Hotels International, Inc. | 29,229,494 | ||
101,262 | Cracker Barrel Old Country Store, Inc. | 12,022,837 | ||
99,985 | Floor & Decor Holdings, Inc. - Class A* | 8,098,785 | ||
339,477 | Frontdoor, Inc.* | 10,133,389 | ||
166,942 | Hilton Worldwide Holdings, Inc.* | 25,331,779 | ||
157,722,760 | ||||
Communication Services — 12.5% | ||||
24,246 | Alphabet, Inc. - Class C* | 67,718,836 | ||
428,212 | Comcast Corp. - Class A | 20,048,886 | ||
289,405 | Fox Corp. - Class A | 11,417,027 | ||
173,061 | Meta Platforms, Inc. - Class A* | 38,481,844 | ||
34,417 | Netflix, Inc.* | 12,892,264 | ||
150,558,857 | ||||
Financials — 12.2% | ||||
748,902 | Bank of America Corp. | 30,869,741 | ||
156,397 | Berkshire Hathaway, Inc. - Class B* | 55,194,065 | ||
87,331 | Goldman Sachs Group, Inc. (The) | 28,827,963 | ||
88,194 | LPL Financial Holdings, Inc. | 16,111,280 | ||
10,242 | Markel Corp.* | 15,109,408 | ||
146,112,457 | ||||
Industrials — 9.1% | ||||
134,971 | Allegiant Travel Co.* | 21,917,941 | ||
26,978 | Deere & Co. | 11,208,280 | ||
223,158 | Hexcel Corp. | 13,271,206 | ||
119,016 | Hubbell, Inc. | 21,871,570 |
Shares | Market Value | |||
Industrials — (Continued) | ||||
29,879 | Parker-Hannifin Corp. | $ 8,478,465 | ||
320,900 | Raytheon Technologies Corp. | 31,791,563 | ||
108,539,025 | ||||
Consumer Staples — 4.7% | ||||
326,549 | Coca-Cola Femsa SAB de CV (Mexico) ADR | 17,943,868 | ||
223,361 | Monster Beverage Corp.* | 17,846,544 | ||
213,062 | Philip Morris International, Inc. | 20,015,044 | ||
55,805,456 | ||||
Real Estate — 3.1% | ||||
426,011 | Americold Realty Trust REIT | 11,877,186 | ||
107,719 | Jones Lang LaSalle, Inc.* | 25,794,392 | ||
37,671,578 | ||||
Energy — 1.7% | ||||
251,542 | Exxon Mobil Corp. | 20,774,854 | ||
Materials — 1.4% | ||||
227,014 | DuPont de Nemours, Inc. | 16,703,690 | ||
Total Common Stocks | $1,169,288,091 | |||
Short-Term Investment Fund — 2.7% | ||||
32,203,893 | Dreyfus Government Cash Management, Institutional Shares, 0.19%∞Ω | 32,203,893 | ||
Total Investment Securities—100.1% (Cost $664,454,397) | $1,201,491,984 | |||
Liabilities in Excess of Other Assets — (0.1%) | (609,074) | |||
Net Assets — 100.0% | $1,200,882,910 |
* | Non-income producing security. |
∞ | Open-End Fund. |
Ω | Represents the 7-Day SEC yield as of March 31, 2022. |
Portfolio Abbreviations: |
ADR – American Depositary Receipt |
REIT – Real Estate Investment Trust |
Valuation Inputs at Reporting Date: | ||||
Description | Level 1 | Level 2 | Level 3 | Total |
Common Stocks | $1,169,288,091 | $— | $— | $1,169,288,091 |
Short-Term Investment Fund | 32,203,893 | — | — | 32,203,893 |
Total | $1,201,491,984 | $— | $— | $1,201,491,984 |
Shares | Market Value | |||
Common Stocks — 98.8% | ||||
United States — 55.0% | ||||
Communication Services — 3.5% | ||||
98,517 | Meta Platforms, Inc. - Class A* | $ 21,906,240 | ||
Consumer Discretionary — 2.0% | ||||
2,028 | Amazon.com, Inc.* | 6,611,178 | ||
49,434 | Ralph Lauren Corp. | 5,607,793 | ||
Financials — 13.0% | ||||
99,281 | Arch Capital Group Ltd.* | 4,807,186 | ||
195,270 | Discover Financial Services | 21,516,802 | ||
119,992 | Globe Life, Inc. | 12,071,195 | ||
170,681 | OneMain Holdings, Inc. | 8,091,986 | ||
137,785 | Reinsurance Group of America, Inc. | 15,081,946 | ||
57,843 | The Allstate Corp. | 8,011,834 | ||
52,464 | Willis Towers Watson PLC | 12,393,046 | ||
Health Care — 10.0% | ||||
30,580 | Alnylam Pharmaceuticals, Inc.* | 4,993,408 | ||
17,238 | Becton Dickinson & Co. | 4,585,308 | ||
79,879 | BioMarin Pharmaceutical, Inc.* | 6,158,671 | ||
169,862 | Centene Corp.* | 14,300,682 | ||
296,928 | Elanco Animal Health, Inc.* | 7,746,852 | ||
48,685 | Eli Lilly & Co. | 13,941,923 | ||
102,053 | Medtronic PLC | 11,322,780 | ||
Industrials — 3.6% | ||||
208,023 | Carrier Global Corp. | 9,542,015 | ||
15,348 | Deere & Co. | 6,376,480 | ||
18,787 | United Rentals, Inc.* | 6,673,330 | ||
Information Technology — 21.5% | ||||
87,104 | Apple, Inc. | 15,209,229 | ||
94,736 | Applied Materials, Inc. | 12,486,205 | ||
87,230 | Fidelity National Information Services, Inc. | 8,759,637 | ||
49,083 | First Solar, Inc.* | 4,110,210 | ||
92,675 | II-VI, Inc.* | 6,718,011 | ||
49,410 | Keysight Technologies, Inc.* | 7,805,298 | ||
150,375 | Micron Technology, Inc. | 11,712,709 | ||
116,434 | Microsoft Corp. | 35,897,767 | ||
60,558 | New Relic, Inc.* | 4,050,119 | ||
66,546 | TE Connectivity Ltd. | 8,716,195 | ||
41,394 | Visa, Inc. - Class A | 9,179,947 | ||
60,038 | WEX, Inc.* | 10,713,781 | ||
Materials — 1.4% | ||||
22,821 | Martin Marietta Materials, Inc. | 8,783,575 | ||
Total United States | 345,883,338 | |||
Japan — 8.6% | ||||
Communication Services — 1.8% | ||||
22,800 | Nintendo Co. Ltd. | 11,508,575 | ||
Consumer Discretionary — 5.1% | ||||
128,400 | Denso Corp. | 8,191,935 | ||
927,900 | Panasonic Corp. | 9,011,839 | ||
140,300 | Sony Group Corp. | 14,433,463 | ||
Industrials — 1.7% | ||||
213,800 | Hitachi Ltd. | 10,699,450 | ||
Total Japan | 53,845,262 | |||
France — 5.7% | ||||
Industrials — 3.8% | ||||
188,521 | Cie de Saint-Gobain | 11,217,074 | ||
76,184 | Schneider Electric SE | 12,790,559 |
Shares | Market Value | |||
France — (Continued) | ||||
Materials — 1.9% | ||||
68,219 | Air Liquide SA | $ 11,934,500 | ||
Total France | 35,942,133 | |||
Sweden — 4.5% | ||||
Financials — 3.3% | ||||
1,009,441 | Svenska Handelsbanken AB - Class A† | 9,282,257 | ||
758,652 | Swedbank AB - Class A† | 11,330,954 | ||
Industrials — 1.2% | ||||
369,402 | Epiroc AB - Class A | 7,901,089 | ||
Total Sweden | 28,514,300 | |||
South Korea — 4.4% | ||||
Communication Services — 2.0% | ||||
403,182 | KT Corp. ADR* | 5,781,630 | ||
236,001 | KT Corp. | 6,912,582 | ||
Consumer Staples — 0.4% | ||||
23,170 | E-MART, Inc. | 2,675,958 | ||
Financials — 2.0% | ||||
242,053 | KB Financial Group, Inc. | 12,130,222 | ||
Total South Korea | 27,500,392 | |||
Germany — 4.0% | ||||
Consumer Discretionary — 0.8% | ||||
67,563 | Continental AG* | 4,843,337 | ||
Industrials — 1.2% | ||||
160,644 | Deutsche Post AG | 7,671,054 | ||
Materials — 0.7% | ||||
77,020 | HeidelbergCement AG | 4,365,046 | ||
Real Estate — 1.3% | ||||
180,498 | Vonovia SE | 8,413,088 | ||
Total Germany | 25,292,525 | |||
United Kingdom — 3.9% | ||||
Financials — 2.6% | ||||
26,914,045 | Lloyds Banking Group PLC | 16,389,777 | ||
Industrials — 1.3% | ||||
254,862 | RELX PLC | 7,930,733 | ||
Total United Kingdom | 24,320,510 | |||
Singapore — 2.5% | ||||
Financials — 1.7% | ||||
1,174,300 | Oversea-Chinese Banking Corp. Ltd. | 10,653,081 | ||
Real Estate — 0.8% | ||||
2,927,900 | CapitaLand Integrated Commercial Trust REIT | 4,843,743 | ||
Total Singapore | 15,496,824 | |||
China — 2.1% | ||||
Communication Services — 1.1% | ||||
143,200 | Tencent Holdings Ltd. | 6,600,710 | ||
Consumer Discretionary — 1.0% | ||||
56,489 | Alibaba Group Holding Ltd. ADR* | 6,146,003 | ||
6,819 | JD.com, Inc.* | 193,761 | ||
Total China | 12,940,474 | |||
Switzerland — 1.9% | ||||
Health Care — 1.9% | ||||
30,267 | Roche Holding AG | 11,975,498 |
Shares | Market Value | |||
Common Stocks — 98.8% (Continued) | ||||
India — 1.7% | ||||
Financials — 1.7% | ||||
571,920 | ICICI Bank Ltd. ADR | $ 10,832,165 | ||
Italy — 1.7% | ||||
Utilities — 1.7% | ||||
1,572,415 | Enel SpA | 10,498,630 | ||
Netherlands — 1.4% | ||||
Health Care — 1.4% | ||||
291,243 | Koninklijke Philips NV | 8,881,075 | ||
Denmark — 0.7% | ||||
Industrials — 0.7% | ||||
162,498 | Vestas Wind Systems A/S | 4,766,850 | ||
Thailand — 0.7% | ||||
Industrials — 0.7% | ||||
2,149,400 | Airports of Thailand PCL* | 4,262,446 | ||
Total Common Stocks | $620,952,422 | |||
Short-Term Investment Funds — 3.9% | ||||
2,942,399 | Dreyfus Government Cash Management, Institutional Shares, 0.19%∞Ω | 2,942,400 | ||
21,634,913 | Invesco Government & Agency Portfolio, Institutional Class, 0.25%∞Ω** | 21,634,913 | ||
Total Short-Term Investment Funds | $24,577,313 | |||
Total Investment Securities — 102.7% (Cost $512,792,535) | $645,529,735 | |||
Liabilities in Excess of Other Assets — (2.7)% | (16,802,945) | |||
Net Assets — 100.0% | $628,726,790 |
* | Non-income producing security. |
** | Represents collateral for securities loaned. |
† | All or a portion of the security is on loan. The total market value of the securities on loan as of March 31, 2022 was $18,547,086. |
∞ | Open-End Fund. |
Ω | Represents the 7-Day SEC yield as of March 31, 2022. |
Portfolio Abbreviations: |
ADR – American Depositary Receipt |
PCL – Public Company Limited |
PLC – Public Limited Company |
REIT – Real Estate Investment Trust |
Valuation inputs at Reporting Date: | ||||
Description | Level 1 | Level 2 | Level 3 | Total |
Common Stocks | ||||
United States | $345,883,338 | $— | $— | $345,883,338 |
Japan | — | 53,845,262 | — | 53,845,262 |
France | — | 35,942,133 | — | 35,942,133 |
Sweden | — | 28,514,300 | — | 28,514,300 |
South Korea | 5,781,630 | 21,718,762 | — | 27,500,392 |
Germany | — | 25,292,525 | — | 25,292,525 |
United Kingdom | — | 24,320,510 | — | 24,320,510 |
Singapore | — | 15,496,824 | — | 15,496,824 |
China | 6,146,003 | 6,794,471 | — | 12,940,474 |
Switzerland | — | 11,975,498 | — | 11,975,498 |
India | 10,832,165 | — | — | 10,832,165 |
Italy | — | 10,498,630 | — | 10,498,630 |
Netherlands | — | 8,881,075 | — | 8,881,075 |
Denmark | — | 4,766,850 | — | 4,766,850 |
Thailand | — | 4,262,446 | — | 4,262,446 |
Short-Term Investment Funds | 24,577,313 | — | — | 24,577,313 |
Total | $393,220,449 | $252,309,286 | $— | $645,529,735 |
Shares | Market Value | |||
Common Stocks — 99.1% | ||||
Information Technology — 42.8% | ||||
97,822 | Apple, Inc. | $ 17,080,699 | ||
19,115 | Applied Materials, Inc. | 2,519,357 | ||
25,561 | Fidelity National Information Services, Inc. | 2,566,836 | ||
27,386 | Global Payments, Inc. | 3,747,500 | ||
4,858 | HubSpot, Inc.* | 2,307,258 | ||
28,051 | Lumentum Holdings, Inc.* | 2,737,778 | ||
35,860 | Marvell Technology, Inc. | 2,571,521 | ||
30,798 | Microsoft Corp. | 9,495,331 | ||
13,622 | NVIDIA Corp. | 3,716,899 | ||
25,349 | QUALCOMM, Inc. | 3,873,834 | ||
15,818 | salesforce, Inc.* | 3,358,478 | ||
7,073 | ServiceNow, Inc.* | 3,938,883 | ||
20,615 | Visa, Inc. - Class A | 4,571,789 | ||
13,309 | Workday, Inc. - Class A* | 3,186,973 | ||
30,998 | Zendesk, Inc.* | 3,728,749 | ||
69,401,885 | ||||
Communication Services — 13.5% | ||||
4,236 | Alphabet, Inc. - Class A* | 11,781,799 | ||
25,111 | Live Nation Entertainment, Inc.* | 2,954,058 | ||
22,904 | Meta Platforms, Inc. - Class A* | 5,092,933 | ||
35,742 | ZoomInfo Technologies, Inc.* | 2,135,227 | ||
21,964,017 | ||||
Consumer Discretionary — 11.5% | ||||
2,833 | Amazon.com, Inc.* | 9,235,438 | ||
8,805 | Home Depot, Inc. (The) | 2,635,601 | ||
63,307 | MGM Resorts International | 2,655,095 | ||
54,478 | Tapestry, Inc. | 2,023,858 | ||
2,045 | Tesla, Inc.* | 2,203,692 | ||
18,753,684 | ||||
Industrials — 10.1% | ||||
24,804 | Advanced Drainage Systems, Inc. | 2,946,963 | ||
19,862 | AMETEK, Inc. | 2,645,221 | ||
16,546 | Encore Wire Corp. | 1,887,402 | ||
21,723 | ITT, Inc. | 1,633,787 | ||
5,075 | TransDigm Group, Inc.* | 3,306,566 | ||
14,770 | Union Pacific Corp. | 4,035,312 | ||
16,455,251 | ||||
Health Care — 10.1% | ||||
23,896 | Ascendis Pharma A/S (Denmark) ADR* | 2,804,435 | ||
4,800 | Bio-Rad Laboratories, Inc. - Class A* | 2,703,504 | ||
15,258 | Elanco Animal Health, Inc.* | 398,081 | ||
25,783 | Horizon Therapeutics PLC* | 2,712,630 | ||
12,278 | ICON PLC (Ireland)* | 2,986,255 | ||
3,000 | IDEXX Laboratories, Inc.* | 1,641,180 | ||
5,388 | Thermo Fisher Scientific, Inc. | 3,182,422 | ||
16,428,507 |
Shares | Market Value | |||
Financials — 4.6% | ||||
11,811 | American Financial Group, Inc. | $ 1,719,918 | ||
14,615 | Arthur J Gallagher & Co. | 2,551,779 | ||
17,045 | Morgan Stanley | 1,489,733 | ||
4,000 | S&P Global, Inc. | 1,640,720 | ||
7,402,150 | ||||
Consumer Staples — 2.4% | ||||
6,677 | Costco Wholesale Corp. | 3,844,950 | ||
Real Estate — 1.5% | ||||
52,328 | Spirit Realty Capital, Inc. REIT | 2,408,135 | ||
Materials — 1.5% | ||||
12,995 | Vulcan Materials Co. | 2,387,181 | ||
Energy — 1.1% | ||||
29,420 | Devon Energy Corp. | 1,739,605 | ||
Total Common Stocks | $160,785,365 | |||
Short-Term Investment Fund — 1.0% | ||||
1,655,135 | Dreyfus Government Cash Management, Institutional Shares, 0.19%∞Ω | 1,655,135 | ||
Total Investment Securities—100.1% (Cost $94,170,392) | $162,440,500 | |||
Liabilities in Excess of Other Assets — (0.1%) | (190,491) | |||
Net Assets — 100.0% | $162,250,009 |
* | Non-income producing security. |
∞ | Open-End Fund. |
Ω | Represents the 7-Day SEC yield as of March 31, 2022. |
Portfolio Abbreviations: |
ADR – American Depositary Receipt |
PLC – Public Limited Company |
REIT – Real Estate Investment Trust |
Valuation Inputs at Reporting Date: | ||||
Description | Level 1 | Level 2 | Level 3 | Total |
Common Stocks | $160,785,365 | $— | $— | $160,785,365 |
Short-Term Investment Fund | 1,655,135 | — | — | 1,655,135 |
Total | $162,440,500 | $— | $— | $162,440,500 |
Shares | Market Value | |||
Common Stocks — 97.9% | ||||
Information Technology — 35.2% | ||||
165,684 | Advanced Micro Devices, Inc.* | $ 18,115,888 | ||
256,006 | Ciena Corp.* | 15,521,644 | ||
139,543 | Cognizant Technology Solutions Corp. - Class A | 12,512,821 | ||
14,120 | EPAM Systems, Inc.* | 4,188,133 | ||
136,239 | Fortinet, Inc.* | 46,558,316 | ||
210,477 | Global Payments, Inc. | 28,801,673 | ||
42,262 | HubSpot, Inc.* | 20,071,914 | ||
756,316 | Lightspeed Commerce, Inc. (Canada)* | 23,044,948 | ||
377,386 | Microchip Technology, Inc. | 28,356,784 | ||
53,519 | MongoDB, Inc.* | 23,740,493 | ||
268,520 | NetApp, Inc. | 22,287,160 | ||
98,850 | Nice Ltd. (Israel) ADR* | 21,648,150 | ||
648,124 | Nutanix, Inc. - Class A* | 17,382,686 | ||
274,852 | ON Semiconductor Corp.* | 17,208,484 | ||
69,966 | Palo Alto Networks, Inc.* | 43,554,535 | ||
159,742 | Splunk, Inc.* | 23,739,258 | ||
48,181 | Teledyne Technologies, Inc.* | 22,771,786 | ||
156,152 | Teradyne, Inc. | 18,461,851 | ||
296,959 | Zendesk, Inc.* | 35,721,198 | ||
79,813 | Zscaler, Inc.* | 19,257,281 | ||
462,945,003 | ||||
Health Care — 18.1% | ||||
185,043 | Ascendis Pharma A/S (Denmark) ADR* | 21,716,646 | ||
498,681 | Avantor, Inc.* | 16,865,391 | ||
59,027 | Cooper Cos., Inc. (The) | 24,649,085 | ||
65,548 | DexCom, Inc.* | 33,534,357 | ||
240,797 | Horizon Therapeutics PLC* | 25,334,252 | ||
157,930 | ICON PLC (Ireland)* | 38,411,735 | ||
60,527 | IDEXX Laboratories, Inc.* | 33,111,901 | ||
70,294 | Insulet Corp.* | 18,725,619 | ||
153,758 | Quest Diagnostics, Inc. | 21,043,320 | ||
254,824 | Rocket Pharmaceuticals, Inc.* | 4,041,509 | ||
237,433,815 | ||||
Industrials — 15.2% | ||||
161,264 | AMETEK, Inc. | 21,477,140 | ||
198,384 | Copart, Inc. * | 24,891,240 | ||
89,674 | IDEX Corp. | 17,193,196 | ||
92,733 | Rockwell Automation, Inc. | 25,968,022 | ||
43,656 | TransDigm Group, Inc.* | 28,443,630 | ||
295,761 | TransUnion | 30,563,942 | ||
152,785 | Waste Connections, Inc. | 21,344,064 | ||
230,461 | WESCO International, Inc.* | 29,992,195 | ||
199,873,429 | ||||
Consumer Discretionary — 11.0% | ||||
136,480 | Etsy, Inc.* | 16,961,735 | ||
81,911 | Expedia Group, Inc.* | 16,027,525 | ||
150,447 | Hilton Worldwide Holdings, Inc.* | 22,828,828 | ||
51,635 | Lululemon Athletica, Inc.* | 18,858,651 | ||
671,899 | Tapestry, Inc. | 24,961,048 | ||
72,179 | Ulta Beauty, Inc.* | 28,743,121 | ||
63,257 | Vail Resorts, Inc. | 16,463,899 | ||
144,844,807 |
Shares | Market Value | |||
Financials — 8.1% | ||||
143,287 | Arthur J Gallagher & Co. | $ 25,017,910 | ||
125,317 | First Republic Bank | 20,313,886 | ||
135,728 | LPL Financial Holdings, Inc. | 24,794,791 | ||
38,768 | MSCI, Inc. | 19,495,652 | ||
185,561 | Tradeweb Markets, Inc. - Class A | 16,305,245 | ||
105,927,484 | ||||
Communication Services — 3.9% | ||||
199,991 | Live Nation Entertainment, Inc.* | 23,526,941 | ||
468,920 | ZoomInfo Technologies, Inc.* | 28,013,281 | ||
51,540,222 | ||||
Real Estate — 3.2% | ||||
409,074 | Douglas Emmett, Inc. REIT | 13,671,253 | ||
83,750 | Essex Property Trust, Inc. REIT | 28,933,950 | ||
42,605,203 | ||||
Energy — 1.9% | ||||
425,869 | Devon Energy Corp. | 25,181,634 | ||
Materials — 1.3% | ||||
119,418 | Celanese Corp. | 17,061,250 | ||
Total Common Stocks | $1,287,412,847 | |||
Short-Term Investment Fund — 1.9% | ||||
24,971,844 | Dreyfus Government Cash Management, Institutional Shares, 0.19%∞Ω | 24,971,844 | ||
Total Investment Securities—99.8% (Cost $998,832,415) | $1,312,384,691 | |||
Other Assets in Excess of Liabilities — 0.2% | 3,067,902 | |||
Net Assets — 100.0% | $1,315,452,593 |
* | Non-income producing security. |
∞ | Open-End Fund. |
Ω | Represents the 7-Day SEC yield as of March 31, 2022. |
Portfolio Abbreviations: |
ADR – American Depositary Receipt |
PLC – Public Limited Company |
REIT – Real Estate Investment Trust |
Valuation Inputs at Reporting Date: | ||||
Description | Level 1 | Level 2 | Level 3 | Total |
Common Stocks | $1,287,412,847 | $— | $— | $1,287,412,847 |
Short-Term Investment Fund | 24,971,844 | — | — | 24,971,844 |
Total | $1,312,384,691 | $— | $— | $1,312,384,691 |
Shares | Market Value | |||
Common Stocks — 96.0% | ||||
India — 29.6% | ||||
Consumer Discretionary — 4.9% | ||||
2,184,002 | Jubilant Foodworks Ltd. | $ 75,470,926 | ||
2,935,284 | Titan Co. Ltd. | 97,784,222 | ||
Consumer Staples — 2.6% | ||||
2,226,113 | Britannia Industries Ltd. | 93,862,039 | ||
Energy — 1.6% | ||||
1,638,309 | Reliance Industries Ltd. | 56,665,137 | ||
Financials — 13.0% | ||||
1,996,308 | Bajaj Finance Ltd. | 189,585,976 | ||
11,695,459 | Bandhan Bank Ltd., 144a | 47,109,665 | ||
7,021,565 | HDFC Bank Ltd. | 135,234,127 | ||
14,297,279 | ICICI Prudential Life Insurance Co. Ltd., 144a | 93,981,135 | ||
Health Care — 4.7% | ||||
2,808,904 | Apollo Hospitals Enterprise Ltd. | 166,701,302 | ||
Information Technology — 0.9% | ||||
674,489 | Tata Consultancy Services Ltd. | 33,148,029 | ||
Materials — 1.9% | ||||
1,714,383 | Asian Paints Ltd. | 69,371,161 | ||
Total India | 1,058,913,719 | |||
China — 22.6% | ||||
Communication Services — 6.1% | ||||
1,454,526 | Kanzhun Ltd. ADR* | 36,232,243 | ||
3,912,506 | Tencent Holdings Ltd. | 180,344,394 | ||
Consumer Discretionary — 9.1% | ||||
9,262,292 | Alibaba Group Holding Ltd.* | 126,399,838 | ||
9,041,502 | ANTA Sports Products Ltd. | 112,159,855 | ||
17,783,929 | Haidilao International Holding Ltd., 144a† | 34,217,262 | ||
2,297,382 | JD Health International, Inc., 144a* | 13,755,807 | ||
1,817,771 | NIO, Inc. ADR* | 38,264,080 | ||
Consumer Staples — 2.2% | ||||
5,862,979 | Foshan Haitian Flavouring & Food Co. Ltd. - Class A | 80,522,615 | ||
Health Care — 4.1% | ||||
5,003,830 | Hangzhou Tigermed Consulting Co. Ltd. Class H, 144a | 60,348,929 | ||
10,851,458 | Wuxi Biologics Cayman, Inc., 144a* | 86,167,115 | ||
Real Estate — 1.1% | ||||
9,721,447 | Country Garden Services Holdings Co., Ltd. | 40,952,780 | ||
Total China | 809,364,918 | |||
Taiwan — 13.3% | ||||
Communication Services — 5.6% | ||||
1,681,207 | Sea Ltd. ADR* | 201,391,787 | ||
Information Technology — 7.7% | ||||
2,637,620 | Taiwan Semiconductor Manufacturing Co. Ltd. ADR | 274,998,261 | ||
Total Taiwan | 476,390,048 | |||
Argentina — 10.3% | ||||
Consumer Discretionary — 7.1% | ||||
214,337 | MercadoLibre, Inc.* | 254,949,575 | ||
Information Technology — 3.2% | ||||
435,000 | Globant SA* | 114,000,450 | ||
Total Argentina | 368,950,025 | |||
Brazil — 8.1% | ||||
Consumer Staples — 1.8% | ||||
12,611,000 | Raia Drogasil SA | 63,411,924 |
Shares | Market Value | |||
Brazil — (Continued) | ||||
Financials — 3.4% | ||||
4,550,137 | NU Holdings Ltd. - Class A*† | $ 35,127,058 | ||
2,816,619 | XP, Inc. - Class A* | 84,780,232 | ||
Industrials — 1.8% | ||||
5,059,415 | Localiza Rent a Car SA | 65,045,902 | ||
Information Technology — 1.1% | ||||
2,038,743 | Pagseguro Digital Ltd. - Class A* | 40,876,797 | ||
Total Brazil | 289,241,913 | |||
Hong Kong — 3.8% | ||||
Financials — 3.1% | ||||
10,354,259 | AIA Group Ltd. | 108,117,990 | ||
Health Care — 0.7% | ||||
1,355,921 | Hutchison China Ltd. ADR* | 25,654,025 | ||
Total Hong Kong | 133,772,015 | |||
South Korea — 3.2% | ||||
Communication Services — 2.6% | ||||
341,797 | NAVER Corp. | 94,995,315 | ||
Information Technology — 0.6% | ||||
168,661 | Kakaopay Corp.*† | 20,557,346 | ||
Total South Korea | 115,552,661 | |||
Indonesia — 2.6% | ||||
Financials — 2.6% | ||||
168,751,800 | Bank Central Asia Tbk PT | 93,702,044 | ||
Thailand — 1.5% | ||||
Consumer Staples — 1.5% | ||||
27,744,900 | CP ALL PCL | 54,053,214 | ||
Kazakhstan — 1.0% | ||||
Financials — 1.0% | ||||
721,915 | Kaspi.KZ JSC GDR | 35,809,005 | ||
Total Common Stocks | $3,435,749,562 | |||
Short-Term Investment Funds — 6.4% | ||||
147,920,444 | Dreyfus Government Cash Management, Institutional Shares, 0.19%∞Ω | 147,920,444 | ||
81,188,062 | Invesco Government & Agency Portfolio, Institutional Class, 0.25%∞Ω** | 81,188,062 | ||
Total Short-Term Investment Funds | $229,108,506 | |||
Total Investment Securities — 102.4% (Cost $3,413,254,410) | $3,664,858,068 | |||
Liabilities in Excess of Other Assets — (2.4)% | (86,833,319) | |||
Net Assets — 100.0% | $3,578,024,749 |
* | Non-income producing security. |
** | Represents collateral for securities loaned. |
† | All or a portion of the security is on loan. The total market value of the securities on loan as of March 31, 2022 was $75,956,336. |
∞ | Open-End Fund. |
Ω | Represents the 7-Day SEC yield as of March 31, 2022. |
Portfolio Abbreviations: |
ADR – American Depositary Receipt |
GDR – Global Depositary Receipt |
JSC – Joint Stock Company |
PCL – Public Company Limited |
144a - This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144a of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At March 31, 2022, these securities were valued at $335,579,913 or 9.4% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees. |
Valuation inputs at Reporting Date: | ||||
Description | Level 1 | Level 2 | Level 3 | Total |
Common Stocks | ||||
India | $— | $1,058,913,719 | $— | $1,058,913,719 |
China | 74,496,323 | 734,868,595 | — | 809,364,918 |
Taiwan | 476,390,048 | — | — | 476,390,048 |
Argentina | 368,950,025 | — | — | 368,950,025 |
Brazil | 289,241,913 | — | — | 289,241,913 |
Hong Kong | 25,654,025 | 108,117,990 | — | 133,772,015 |
South Korea | — | 115,552,661 | — | 115,552,661 |
Indonesia | 93,702,044 | — | — | 93,702,044 |
Thailand | — | 54,053,214 | — | 54,053,214 |
Kazakhstan | — | 35,809,005 | — | 35,809,005 |
Short-Term Investment Funds | 229,108,506 | — | — | 229,108,506 |
Total | $1,557,542,884 | $2,107,315,184 | $— | $3,664,858,068 |
Principal Amount | Market Value | |||
Corporate Bonds — 53.1% | ||||
Financials — 12.1% | ||||
$ 2,232,000 | Ares Capital Corp., 4.250%, 3/1/25 | $ 2,233,231 | ||
2,605,000 | Bank of Nova Scotia (The) (Canada), Ser 2, 3.625%, 10/27/81 | 2,244,106 | ||
2,350,000 | Barclays PLC (United Kingdom), 2.894%, 11/24/32 | 2,131,846 | ||
1,234,000 | BNP Paribas SA (France), 144a, 4.625%, 3/13/27 | 1,263,878 | ||
975,000 | Charles Schwab Corp. (The), 4.000%(A) | 875,667 | ||
975,000 | Charles Schwab Corp. (The), 5.000%(A) | 971,344 | ||
1,309,000 | Citigroup, Inc., Ser W, 4.000%(A) | 1,259,913 | ||
2,000,000 | Corestates Capital III, 144a, (3M LIBOR +0.570%), 1.076%, 2/15/27(B) | 1,920,108 | ||
1,260,000 | Credit Acceptance Corp., 6.625%, 3/15/26 | 1,285,200 | ||
2,026,000 | First Maryland Capital II, (3M LIBOR +0.850%), 1.167%, 2/1/27(B) | 1,942,548 | ||
502,000 | FirstCash, Inc., 144a, 4.625%, 9/1/28 | 467,488 | ||
3,330,000 | Goldman Sachs Group, Inc. (The), 3.615%, 3/15/28 | 3,328,430 | ||
2,165,000 | Golub Capital BDC, Inc., 2.050%, 2/15/27 | 1,920,074 | ||
1,487,000 | Icahn Enterprises LP / Icahn Enterprises Finance Corp., 5.250%, 5/15/27 | 1,459,379 | ||
1,677,000 | Navient Corp., 6.750%, 6/15/26 | 1,710,540 | ||
3,248,000 | PNC Capital Trust, (3M LIBOR +0.570%), 1.093%, 6/1/28(B) | 3,037,176 | ||
1,625,000 | Prudential Financial, Inc., 5.125%, 3/1/52 | 1,642,712 | ||
1,650,000 | Sabra Health Care LP REIT, 3.900%, 10/15/29 | 1,585,741 | ||
2,145,000 | Sixth Street Specialty Lending, Inc., 2.500%, 8/1/26 | 1,980,060 | ||
2,000,000 | STORE Capital Corp. REIT, 2.750%, 11/18/30 | 1,810,004 | ||
3,059,000 | Truist Bank, Ser A, (3M LIBOR +0.670%), 1.180%, 5/15/27(B) | 2,917,183 | ||
1,625,000 | Truist Financial Corp., Ser Q, 5.100%(A) | 1,647,750 | ||
39,634,378 | ||||
Energy — 7.1% | ||||
1,706,000 | Cenovus Energy, Inc. (Canada), 5.250%, 6/15/37 | 1,848,434 | ||
1,432,000 | Cheniere Energy, Inc., 4.625%, 10/15/28 | 1,442,754 | ||
1,260,000 | CQP Holdco LP / BIP-V Chinook Holdco LLC, 144a, 5.500%, 6/15/31 | 1,239,761 | ||
2,350,000 | Energy Transfer LP, 5.250%, 4/15/29 | 2,507,961 | ||
795,000 | FS Luxembourg Sarl (Brazil), 144a, 10.000%, 12/15/25 | 833,232 | ||
762,000 | Genesis Energy LP / Genesis Energy Finance Corp., 5.625%, 6/15/24 | 757,253 | ||
250,000 | Genesis Energy LP / Genesis Energy Finance Corp., 6.500%, 10/1/25 | 246,575 | ||
293,000 | Genesis Energy LP / Genesis Energy Finance Corp., 8.000%, 1/15/27 | 299,669 | ||
218,000 | Hilcorp Energy I LP / Hilcorp Finance Co., 144a, 5.750%, 2/1/29 | 218,131 | ||
1,323,000 | Hilcorp Energy I LP / Hilcorp Finance Co., 144a, 6.000%, 2/1/31 | 1,326,307 | ||
750,000 | KazMunayGas National Co. JSC (Kazakhstan), 144a, 5.750%, 4/19/47 | 662,985 | ||
1,124,000 | MC Brazil Downstream Trading SARL (Brazil), 144a, 7.250%, 6/30/31 | 1,032,619 | ||
405,000 | Mesquite Energy, Inc., 144a, 7.250%, 2/15/23 | 4,050 | ||
1,922,000 | Murphy Oil Corp., 6.375%, 7/15/28 | 2,001,282 | ||
1,604,000 | NGPL PipeCo LLC, 144a, 7.768%, 12/15/37 | 2,013,422 | ||
1,149,000 | Parkland Corp. (Canada), 144a, 4.500%, 10/1/29 | 1,065,290 | ||
350,000 | Petroleos Mexicanos (Mexico), 6.375%, 1/23/45 | 279,926 | ||
750,000 | Petroleos Mexicanos (Mexico), 6.625%, 6/15/35 | 672,195 | ||
1,810,000 | Petroleos Mexicanos (Mexico), 6.750%, 9/21/47 | 1,471,349 | ||
1,324,000 | Precision Drilling Corp. (Canada), 144a, 6.875%, 1/15/29 | 1,343,860 | ||
922,000 | Southwestern Energy Co., 8.375%, 9/15/28 | 1,014,200 | ||
1,200,000 | YPF SA (Argentina), 144a, 8.500%, 7/28/25 | 1,026,600 | ||
23,307,855 |
Principal Amount | Market Value | |||
Communication Services — 6.7% | ||||
$ 1,386,000 | Arches Buyer, Inc., 144a, 4.250%, 6/1/28 | $ 1,292,944 | ||
2,995,000 | British Telecommunications PLC (United Kingdom), 5.125%, 12/4/28 | 3,140,923 | ||
1,160,000 | Cars.com, Inc., 144a, 6.375%, 11/1/28 | 1,151,729 | ||
1,689,000 | Charter Communications Operating LLC / Charter Communications Operating Capital, 6.484%, 10/23/45 | 1,924,483 | ||
1,255,000 | Connect Finco SARL / Connect US Finco LLC (United Kingdom), 144a, 6.750%, 10/1/26 | 1,276,824 | ||
1,485,000 | CSC Holdings LLC, 144a, 4.625%, 12/1/30 | 1,241,891 | ||
1,460,000 | Directv Financing LLC / Directv Financing Co-Obligor, Inc., 144a, 5.875%, 8/15/27 | 1,437,078 | ||
1,260,000 | Gray Escrow II, Inc., 144a, 5.375%, 11/15/31 | 1,204,831 | ||
2,074,000 | Netflix, Inc., 6.375%, 5/15/29 | 2,345,238 | ||
1,525,000 | Paramount Global, 4.200%, 5/19/32 | 1,527,390 | ||
916,000 | Photo Holdings Merger Sub, Inc., 144a, 8.500%, 10/1/26 | 872,893 | ||
2,309,000 | Stagwell Global, 144a, 5.625%, 8/15/29 | 2,188,309 | ||
2,228,000 | T-Mobile USA, Inc., 3.875%, 4/15/30 | 2,236,825 | ||
21,841,358 | ||||
Industrials — 5.5% | ||||
1,175,000 | ADT Security Corp. (The), 144a, 4.875%, 7/15/32 | 1,081,000 | ||
1,260,000 | Amsted Industries, Inc., 144a, 4.625%, 5/15/30 | 1,194,140 | ||
922,000 | Boeing Co. (The), 5.805%, 5/1/50 | 1,064,164 | ||
1,440,000 | Cimpress PLC (Ireland), 144a, 7.000%, 6/15/26 | 1,379,232 | ||
1,745,000 | Fortress Transportation & Infrastructure Investors LLC, 144a, 6.500%, 10/1/25 | 1,727,550 | ||
2,026,000 | General Electric Co., 4.156%(A) | 1,944,960 | ||
1,330,000 | Meritor, Inc., 144a, 4.500%, 12/15/28 | 1,331,729 | ||
2,103,000 | Oshkosh Corp., 3.100%, 3/1/30 | 1,955,914 | ||
1,269,000 | Pactiv Evergreen Group Issuer Inc / Pactiv Evergreen Group Issuer LLC, 144a, 4.000%, 10/15/27 | 1,176,997 | ||
1,337,000 | Seaspan Corp. (Hong Kong), 144a, 5.500%, 8/1/29 | 1,250,095 | ||
1,274,000 | Stericycle, Inc., 144a, 3.875%, 1/15/29 | 1,184,820 | ||
878,000 | TransDigm, Inc., 144a, 6.250%, 3/15/26 | 902,694 | ||
2,045,000 | Weir Group PLC (The) (United Kingdom), 144a, 2.200%, 5/13/26 | 1,912,296 | ||
18,105,591 | ||||
Consumer Discretionary — 5.1% | ||||
2,001,000 | Brunswick Corp., 4.400%, 9/15/32 | 1,978,569 | ||
1,375,000 | Carriage Services, Inc., 144a, 4.250%, 5/15/29 | 1,284,250 | ||
1,458,000 | Churchill Downs, Inc., 144a, 4.750%, 1/15/28 | 1,414,260 | ||
462,000 | Ford Motor Co., 4.750%, 1/15/43 | 417,606 | ||
860,000 | Ford Motor Credit Co. LLC, 4.125%, 8/17/27 | 842,301 | ||
3,330,000 | General Motors Financial Co., Inc., 3.100%, 1/12/32 | 2,993,504 | ||
2,825,000 | Imperial Brands Finance PLC (United Kingdom), 144a, 3.500%, 7/26/26 | 2,766,781 | ||
1,950,000 | Magallanes, Inc., 144a, 5.141%, 3/15/52 | 1,995,523 | ||
1,440,000 | Royal Caribbean Cruises Ltd., 144a, 5.375%, 7/15/27 | 1,383,523 | ||
975,000 | Toll Brothers Finance Corp., 3.800%, 11/1/29 | 942,814 | ||
577,000 | Wynn Macau Ltd. (Macao), 144a, 4.875%, 10/1/24 | 540,493 | ||
16,559,624 | ||||
Consumer Staples — 4.6% | ||||
1,552,000 | Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC, 144a, 5.875%, 2/15/28 | 1,552,000 | ||
1,911,000 | Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc. (Belgium), 4.900%, 2/1/46 | 2,124,322 | ||
1,177,000 | BellRing Brands, Inc., 144a, 7.000%, 3/15/30 | 1,203,753 | ||
1,591,000 | Chobani LLC / Chobani Finance Corp., Inc., 144a, 4.625%, 11/15/28 | 1,467,697 |
Principal Amount | Market Value | |||
Corporate Bonds — 53.1% (Continued) | ||||
Consumer Staples — (Continued) | ||||
$ 1,968,000 | JBS Finance Luxembourg Sarl, 144a, 2.500%, 1/15/27 | $ 1,827,800 | ||
982,000 | Performance Food Group, Inc., 144a, 4.250%, 8/1/29 | 894,848 | ||
1,469,000 | QVC, Inc., 4.375%, 9/1/28 | 1,340,276 | ||
1,652,000 | Turning Point Brands, Inc., 144a, 5.625%, 2/15/26 | 1,602,440 | ||
1,500,000 | Ulker Biskuvi Sanayi AS (Turkey), 144a, 6.950%, 10/30/25 | 1,309,920 | ||
1,752,000 | United Rentals North America, Inc., 3.750%, 1/15/32 | 1,633,740 | ||
14,956,796 | ||||
Utilities — 4.3% | ||||
1,950,000 | CMS Energy Corp., 4.750%, 6/1/50 | 1,930,500 | ||
2,145,000 | Edison International, 4.125%, 3/15/28 | 2,130,808 | ||
850,000 | Eskom Holdings SOC Ltd. (South Africa), 144a, 8.450%, 8/10/28 | 827,060 | ||
1,498,000 | FirstEnergy Transmission LLC, 144a, 5.450%, 7/15/44 | 1,634,668 | ||
812,000 | Genneia SA (Argentina), 144a, 8.750%, 9/2/27 | 764,295 | ||
2,145,000 | Pacific Gas & Electric Co., 2.500%, 2/1/31 | 1,849,241 | ||
1,200,000 | PPL Capital Funding, Inc., Ser A, (3M LIBOR +2.665%), 3.661%, 3/30/67(B) | 1,053,000 | ||
1,600,000 | Southern Co. (The), 4.456%, 3/15/57(B) | 1,592,659 | ||
2,720,000 | WEC Energy Group, Inc., (3M LIBOR +2.112%), 2.619%, 5/15/67(B) | 2,306,560 | ||
14,088,791 | ||||
Materials — 3.2% | ||||
2,602,000 | Braskem Netherlands Finance BV (Brazil), 144a, 5.875%, 1/31/50 | 2,581,184 | ||
2,500,000 | Cemex SAB de CV (Mexico), 144a, 3.875%, 7/11/31 | 2,281,275 | ||
332,000 | Hudbay Minerals, Inc. (Canada), 144a, 4.500%, 4/1/26 | 323,700 | ||
1,018,000 | Hudbay Minerals, Inc. (Canada), 144a, 6.125%, 4/1/29 | 1,048,540 | ||
400,000 | Indonesia Asahan Aluminium Persero PT (Indonesia), 6.530%, 11/15/28 | 444,444 | ||
1,700,000 | Indonesia Asahan Aluminium Persero PT (Indonesia), 144a, 5.450%, 5/15/30 | 1,773,950 | ||
2,200,000 | Metinvest BV (Ukraine), 144a, 7.750%, 10/17/29 | 924,000 | ||
1,400,000 | OCP SA (Morocco), 144a, 5.125%, 6/23/51 | 1,162,000 | ||
10,539,093 | ||||
Health Care — 2.4% | ||||
1,770,000 | CVS Health Corp., 5.050%, 3/25/48 | 2,008,614 | ||
1,264,000 | MEDNAX, Inc., 144a, 5.375%, 2/15/30 | 1,221,694 | ||
1,260,000 | Mozart Debt Merger Sub, Inc., 144a, 3.875%, 4/1/29 | 1,163,925 | ||
2,102,000 | Mylan, Inc., 4.550%, 4/15/28 | 2,128,702 | ||
1,260,000 | US Acute Care Solutions LLC, 144a, 6.375%, 3/1/26 | 1,244,250 | ||
7,767,185 | ||||
Real Estate — 1.7% | ||||
1,320,000 | Diversified Healthcare Trust REIT, 9.750%, 6/15/25 | 1,389,300 | ||
1,260,000 | Howard Hughes Corp. (The), 144a, 4.375%, 2/1/31 | 1,185,030 | ||
1,260,000 | Iron Mountain, Inc. REIT, 144a, 4.875%, 9/15/27 | 1,246,203 | ||
1,000,000 | Logan Group Co. Ltd. (China), 7.500%, 8/25/22 | 260,000 | ||
1,455,000 | RHP Hotel Properties LP / RHP Finance Corp. REIT, 144a, 4.500%, 2/15/29 | 1,367,700 | ||
5,448,233 | ||||
Information Technology — 0.4% | ||||
1,326,000 | Clarivate Science Holdings Corp., 144a, 4.875%, 7/1/29 | 1,247,514 | ||
Total Corporate Bonds | $173,496,418 | |||
Asset-Backed Securities — 18.9% | ||||
2,000,000 | AB BSL CLO 3, Ltd. (Cayman Islands), Ser 2021-3A, Class D, 144a, (3M LIBOR +3.200%), 3.389%, 10/20/34(B) | 1,907,882 | ||
5,970,000 | AB Issuer LLC, Ser 2021-1, Class A2, 144a, 3.734%, 7/30/51 | 5,430,342 |
Principal Amount | Market Value | |||
Asset-Backed Securities — 18.9% (Continued) | ||||
$ 5,000,000 | Birch Grove CLO 2, Ltd. (Cayman Islands), Ser 2021-2A, Class C, 144a, (3M LIBOR +2.250%), 2.498%, 10/19/34(B) | $ 4,903,855 | ||
5,000,000 | BSPRT Issuer, Ltd. (Cayman Islands), Ser 2018-FL4, Class E, 144a, (1M LIBOR +3.050%), 3.447%, 9/15/35(B) | 4,934,765 | ||
4,948,052 | FOCUS Brands Funding LLC, Ser 2017-1A, Class A2IB, 144a, 3.857%, 4/30/47 | 4,872,817 | ||
4,962,500 | Hardee's Funding LLC, Ser 2021-1A, Class A2, 144a, 2.865%, 6/20/51 | 4,511,950 | ||
2,100,000 | Medalist Partners Corporate Finance CLO VI, Ltd. (Cayman Islands), Ser 2020-1A, Class B, 144a, (3M LIBOR +2.700%), 2.941%, 4/17/33(B) | 2,024,045 | ||
5,000,000 | Mill City Mortgage Loan Trust, Ser 2017-2, Class B2, 144a, 3.545%, 7/25/59(B)(C) | 4,835,716 | ||
4,962,500 | Neighborly Issuer LLC, Ser 2021-1A, Class A2, 144a, 3.584%, 4/30/51 | 4,657,202 | ||
5,000,000 | New Mountain CLO 3, Ltd. (Cayman Islands), Ser CLO-3A, Class C, 144a, (3M LIBOR +2.100%), 2.231%, 10/20/34(B) | 4,892,160 | ||
2,250,000 | Palmer Square CLO, Ltd. (Cayman Islands), Ser 2021-4A, Class D, 144a, (3M LIBOR +2.950%), 3.133%, 10/15/34(B) | 2,206,937 | ||
6,242,000 | STWD, Ltd. (Cayman Islands), Ser 2021-FL2, Class D, 144a, (1M LIBOR +2.800%), 3.268%, 4/18/38(B) | 6,164,539 | ||
5,500,000 | TRTX Issuer, Ltd. (Cayman Islands), Ser 2019-FL3, Class C, 144a, (SOFR30A +2.214%), 2.264%, 10/15/34(B) | 5,475,019 | ||
5,000,000 | Whitebox CLO I, Ltd. (Cayman Islands), Ser 2019-1A, Class BR, 144a, (3M LIBOR +2.050%), 2.309%, 7/24/32(B) | 4,959,565 | ||
Total Asset-Backed Securities | $61,776,794 | |||
U.S. Treasury Obligations — 9.3% | ||||
5,800,000 | U.S. Treasury Bond, 1.875%, 2/15/51 | 5,070,469 | ||
27,000,000 | U.S. Treasury Note, 0.750%, 5/31/26 | 25,141,641 | ||
Total U.S. Treasury Obligations | $30,212,110 |
Shares | ||||
Common Stocks — 5.4% | ||||
Industrials — 1.0% | ||||
39,560 | Covia | 484,610 | ||
3,131 | Lockheed Martin Corp. | 1,382,024 | ||
14,248 | Raytheon Technologies Corp. | 1,411,549 | ||
3,278,183 | ||||
Information Technology — 0.9% | ||||
11,323 | International Business Machines Corp. | 1,472,217 | ||
8,328 | Texas Instruments, Inc. | 1,528,021 | ||
3,000,238 | ||||
Health Care — 0.9% | ||||
20,366 | Bristol-Myers Squibb Co. | 1,487,329 | ||
8,008 | Johnson & Johnson | 1,419,258 | ||
2,906,587 | ||||
Financials — 0.9% | ||||
33,406 | Bank of America Corp. | 1,376,994 | ||
4,198 | Goldman Sachs Group, Inc. (The) | 1,385,760 | ||
2,762,754 | ||||
Energy — 0.5% | ||||
18,042 | Exxon Mobil Corp. | 1,490,089 | ||
2,237,868 | Hi-Crush, Inc.(D) | 22,379 | ||
1,512,468 |
Shares | MarketValue | |||
Common Stocks — 5.4% (Continued) | ||||
Materials — 0.4% | ||||
19,412 | DuPont de Nemours, Inc. | $ 1,428,335 | ||
Consumer Staples — 0.4% | ||||
15,196 | Philip Morris International, Inc. | 1,427,512 | ||
Communication Services — 0.4% | ||||
58,809 | AT&T, Inc. | 1,389,657 | ||
Total Common Stocks | $17,705,734 |
Principal Amount | ||||
Sovereign Government Obligations — 4.4% | ||||
$ 1,350,000 | Angolan Government International Bond, 144a, 8.000%, 11/26/29 | 1,354,887 | ||
1,222,000 | Bahamas Government International Bond, 144a, 6.000%, 11/21/28 | 945,535 | ||
1,177,000 | Chile Government International Bond, 3.100%, 5/7/41 | 1,039,138 | ||
1,295,000 | Colombia Government International Bond, 3.125%, 4/15/31 | 1,096,541 | ||
400,000 | Colombia Government International Bond, 7.375%, 9/18/37 | 449,000 | ||
320,000 | Colombia Government International Bond, 10.375%, 1/28/33 | 432,403 | ||
1,350,000 | Dominican Republic International Bond, 4.875%, 9/23/32 | 1,221,763 | ||
1,530,000 | Ecuador Government International Bond, 144a, 1.000%, 7/31/35 | 1,000,635 | ||
657,000 | Ecuador Government International Bond, 144a, 5.000%, 7/31/30 | 548,602 | ||
1,350,000 | Egypt Government International Bond, 8.500%, 1/31/47 | 1,148,553 | ||
955,000 | Gabon Government International Bond, 144a, 6.625%, 2/6/31 | 904,099 | ||
1,350,000 | Ghana Government International Bond, 144a, 8.627%, 6/16/49 | 938,088 | ||
1,192,000 | Mexico Government International Bond, 2.659%, 5/24/31 | 1,084,350 | ||
1,000,000 | Nigeria Government International Bond, 144a, 7.625%, 11/28/47 | 830,900 | ||
985,000 | Republic of Uzbekistan International Bond, 144a, 3.700%, 11/25/30 | 849,563 | ||
200,000 | Ukraine Government International Bond, 144a, 7.253%, 3/15/33 | 82,950 | ||
1,020,000 | Ukraine Government International Bond, 7.253%, 3/15/33 | 423,045 | ||
Total Sovereign Government Obligations | $14,350,052 | |||
Commercial Mortgage-Backed Securities — 4.1% | ||||
5,000,000 | BX Commercial Mortgage Trust, Ser 2020-VIV2, Class C, 144a, 3.542%, 3/9/44(B)(C) | 4,576,078 | ||
5,000,000 | CGMS Commercial Mortgage Trust, Ser 2017-B1, Class D, 144a, 3.000%, 8/15/50 | 4,176,120 | ||
2,202,000 | GS Mortgage Securities Corp. Trust, Ser 2017-SLP, Class E, 144a, 4.591%, 10/10/32(B)(C) | 2,158,620 | ||
2,530,000 | Wells Fargo Re-REMIC Trust, Ser 2013-FRR1, Class BK26, 144a, 1/27/45# | 2,410,694 | ||
Total Commercial Mortgage-Backed Securities | $13,321,512 |
Shares | ||||
Preferred Stocks — 2.1% | ||||
Financials — 1.8% | ||||
95,203 | First Republic Bank, Ser K, 4.125%(A) | 1,963,086 | ||
32,500 | JPMorgan Chase & Co., Ser JJ, 4.550%(A) | 710,450 |
Shares | MarketValue | |||
Financials — (Continued) | ||||
48,750 | JPMorgan Chase & Co., Ser MM, 4.200%(A) | $ 1,027,650 | ||
69,778 | Morgan Stanley, Ser DMT1, 4.250%(A) | 1,500,925 | ||
36,977 | US Bancorp, Ser L, 3.750%(A) | 728,816 | ||
5,930,927 | ||||
Real Estate — 0.3% | ||||
12,224 | Public Storage REIT, 4.000%(A) | 252,181 | ||
36,304 | Public Storage REIT, 3.900%(A) | 728,259 | ||
980,440 | ||||
Total Preferred Stocks | $6,911,367 |
Principal Amount | ||||
Agency Collateralized Mortgage Obligations — 0.5% | ||||
$26,566,657 | FRESB Mortgage Trust, Ser 2020-SB78, Class X1, 1.158%, 6/25/40(B)(C)(E) | 1,735,353 | ||
Rights — 0.0% | ||||
27,942 | Vistra Energy Corp. Tax Return Rights, 0.000%, 12/6/26 | 36,045 |
Shares | ||||
Short-Term Investment Fund — 1.3% | ||||
4,136,088 | Dreyfus Government Cash Management, Institutional Shares, 0.19%∞Ω | 4,136,087 | ||
Total Investment Securities—99.1% (Cost $345,305,920) | $323,681,472 | |||
Other Assets in Excess of Liabilities — 0.9% | 2,851,072 | |||
Net Assets — 100.0% | $326,532,544 |
(A) | Perpetual Bond - A bond or preferred stock with no definite maturity date. |
(B) | Variable rate security - Rate reflected is the rate in effect as of March 31, 2022. |
(C) | Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description. |
(D) | Level 3- For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Financial Statements. |
(E) | Interest only security - This type of security represents the right to receive the monthly interest payments on an underlying pool of mortgages. Payments of principal on the pool reduce the value of the “interest only” holding. |
# | Zero coupon bond - Rate shown reflects effective yield to maturity at time of purchase. |
∞ | Open-End Fund. |
Ω | Represents the 7-Day SEC yield as of March 31, 2022. |
Portfolio Abbreviations: |
CLO – Collateralized Loan Obligation |
FRESB – Freddie Mac Multifamily Securitization Small Balance Loan |
JSC – Joint Stock Company |
LIBOR – London Interbank Offered Rate |
LLC – Limited Liability Company |
LP – Limited Partnership |
PLC – Public Limited Company |
REIT – Real Estate Investment Trust |
REMIC – Real Estate Mortgage Investment Conduit |
SOC – State-Owned Company |
SOFR30A – Secured Overnight Financing Rate 30 Day Average |
144a - This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144a of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At March 31, 2022, these securities were valued at $162,018,624 or 49.6% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees. |
Valuation Inputs at Reporting Date: | ||||
Description | Level 1 | Level 2 | Level 3 | Total |
Assets: | ||||
Corporate Bonds | $— | $173,496,418 | $— | $173,496,418 |
Asset-Backed Securities | — | 61,776,794 | — | 61,776,794 |
U.S. Treasury Obligations | — | 30,212,110 | — | 30,212,110 |
Common Stocks | 17,198,745 | 484,610 | 22,379 | 17,705,734 |
Sovereign Government Obligations | — | 14,350,052 | — | 14,350,052 |
Commercial Mortgage-Backed Securities | — | 13,321,512 | — | 13,321,512 |
Preferred Stocks | 6,911,367 | — | — | 6,911,367 |
Agency Collateralized Mortgage Obligations | — | 1,735,353 | — | 1,735,353 |
Rights | — | 36,045 | — | 36,045 |
Short-Term Investment Fund | 4,136,087 | — | — | 4,136,087 |
Other Financial Instruments* | ||||
Futures | ||||
Interest rate contracts | 136,488 | — | — | 136,488 |
Total Assets | $28,382,687 | $295,412,894 | $22,379 | $323,817,960 |
Liabilities: | ||||
Other Financial Instruments* | ||||
Futures | ||||
Interest rate contracts | $(344,149) | $— | $— | $(344,149) |
Total Liabilities | $(344,149) | $— | $— | $(344,149) |
Total | $28,038,538 | $295,412,894 | $22,379 | $323,473,811 |
* | Other Financial Instruments are derivative instruments not reflected in total investments. Amounts shown represent unrealized appreciation (depreciation) on futures contracts and is included in Payable for variation margin on futures contracts on the Statement of Assets and Liabilities. |
Measurements Using Unobservable Inputs (Level 3) | |
Assets | Common Stocks and Corporate Bonds |
Beginning balance, March 31, 2021 | $509,081 |
Purchases and Sales | (1,349,026) |
Accrued discounts (premiums) | 2,981 |
Net realized gain (loss) | (2,048,301) |
Change in unrealized appreciation (depreciation) | 2,907,644 |
Ending balance, March 31, 2022 | $22,379 |
Net Change in Unrealized Appreciation/Depreciation for Investments in Securities still held at March 31, 2022 | $38,740 |
Common Stocks | Fair Value | Valuation Technique | Unobservable Input |
Hi-Crush, Inc. | $22,379 | Market Value | N/A |
Description | Expiration Date | Number of Contracts | Notional Value | Unrealized Appreciation/ (Depreciation) |
Short Futures: | ||||
10-Year Ultra Long U.S. Treasury Bond | 6/21/2022 | 202 | $27,501,175 | $136,488 |
Long Futures: | ||||
5-Year U.S. Treasury Note | 6/30/2022 | 494 | 56,999,774 | (344,149) |
$(207,661) |
Touchstone Flexible Income Fund | Touchstone Focused Fund | Touchstone Global ESG Equity Fund | Touchstone Growth Opportunities Fund | Touchstone Mid Cap Growth Fund | Touchstone Sands Capital Emerging Markets Growth Fund | Touchstone Strategic Income Opportunities Fund | |
Assets | |||||||
Investments, at cost | $872,546,389 | $664,454,397 | $512,792,535 | $94,170,392 | $998,832,415 | $3,413,254,410 | $345,305,920 |
Investments, at market value * | $842,331,996 | $1,201,491,984 | $645,529,735 | $162,440,500 | $1,312,384,691 | $3,664,858,068 | $323,681,472 |
Cash | — | — | — | — | — | 2,125,362 | 3,026 |
Cash deposits held at prime broker (A) | 22,565,042 | — | — | — | — | — | 197,015 |
Foreign currency † | 3 | — | 456,152 | — | — | 2,569,098 | — |
Dividends and interest receivable | 5,882,312 | 683,689 | 2,070,663 | 41,344 | 420,218 | 2,575,166 | 2,811,379 |
Receivable for capital shares sold | 832,118 | 99,439 | 272,302 | 26,582 | 5,824,943 | 14,931,792 | 63,171 |
Receivable for investments sold | 19,999,100 | 364,479 | 2,534,684 | 3,323,954 | — | 13,926,829 | 915,895 |
Receivable for securities lending income | 5,396 | — | 19,550 | — | — | 188,542 | 37 |
Tax reclaim receivable | — | — | 323,965 | — | 3,913 | 73,623 | 5,936 |
Other assets | 41,690 | 44,003 | 29,001 | 20,907 | 65,150 | 104,028 | 34,216 |
Total Assets | 891,657,657 | 1,202,683,594 | 651,236,052 | 165,853,287 | 1,318,698,915 | 3,701,352,508 | 327,712,147 |
Liabilities | |||||||
Bank overdrafts | 19,797,632 | — | — | — | — | — | — |
Due to prime broker | — | — | — | — | — | — | 17 |
Dividends payable | 136,601 | — | — | — | — | — | — |
Securities sold short** | 22,582,000 | — | — | — | — | — | — |
Payable for return of collateral for securities on loan | 354,825 | — | 21,634,913 | — | — | 81,188,062 | — |
Deferred foreign capital gains tax | — | — | — | — | — | 26,240,983 | — |
Payable for capital shares redeemed | 1,559,008 | 674,089 | 214,137 | 72,186 | 1,823,705 | 11,500,441 | 758,329 |
Payable for investments purchased | — | — | — | 3,331,633 | — | — | — |
Payable to Investment Advisor | 368,628 | 621,910 | 335,235 | 87,114 | 733,399 | 2,994,352 | 159,137 |
Payable to other affiliates | 147,132 | 163,793 | 83,648 | 24,664 | 219,714 | 407,264 | 98,212 |
Payable to Trustees | 14,289 | 14,289 | 14,289 | 14,289 | 14,289 | 14,289 | 14,289 |
Payable for professional services | 35,420 | 28,692 | 36,447 | 24,619 | 32,653 | 73,142 | 29,586 |
Payable for reports to shareholders | 14,781 | 19,109 | 11,827 | 4,080 | 49,580 | 64,258 | 10,113 |
Payable for transfer agent services | 226,731 | 267,400 | 169,846 | 35,905 | 353,853 | 748,287 | 93,100 |
Payable for variation margin on futures contracts | — | — | — | — | — | — | 12,596 |
Other accrued expenses and liabilities | 10,042 | 11,402 | 8,920 | 8,788 | 19,129 | 96,681 | 4,224 |
Total Liabilities | 45,247,089 | 1,800,684 | 22,509,262 | 3,603,278 | 3,246,322 | 123,327,759 | 1,179,603 |
Net Assets | $846,410,568 | $1,200,882,910 | $628,726,790 | $162,250,009 | $1,315,452,593 | $3,578,024,749 | $326,532,544 |
Net assets consist of: | |||||||
Paid-in capital | 877,588,247 | 632,240,254 | 471,883,261 | 92,694,550 | 977,463,306 | 3,770,094,643 | 393,924,913 |
Distributable earnings (deficit) | (31,177,679) | 568,642,656 | 156,843,529 | 69,555,459 | 337,989,287 | (192,069,894) | (67,392,369) |
Net Assets | $846,410,568 | $1,200,882,910 | $628,726,790 | $162,250,009 | $1,315,452,593 | $3,578,024,749 | $326,532,544 |
*Includes market value of securities on loan of: | $348,419 | $— | $18,547,086 | $— | $— | $75,956,336 | $— |
†Cost of foreign currency: | $3 | $— | $461,498 | $— | $— | $2,563,348 | $— |
**Proceeds received for securities sold short: | $21,817,364 | $— | $— | $— | $— | $— | $— |
(A) | Represents segregated cash for securities sold short, futures contracts and swap agreements. |
Touchstone Flexible Income Fund | Touchstone Focused Fund | Touchstone Global ESG Equity Fund | Touchstone Growth Opportunities Fund | Touchstone Mid Cap Growth Fund | Touchstone Sands Capital Emerging Markets Growth Fund | Touchstone Strategic Income Opportunities Fund | |
Pricing of Class A Shares | |||||||
Net assets applicable to Class A shares | $113,880,493 | $53,027,554 | $457,749,962 | $61,006,472 | $299,763,007 | $19,693,819 | $177,573,583 |
Shares of beneficial interest outstanding (unlimited number of shares authorized, no par value) | 10,777,185 | 878,186 | 19,847,470 | 1,579,037 | 8,684,924 | 1,258,251 | 54,289,821 |
Net asset value price per share* | $10.57 | $60.38 | $23.06 | $38.64 | $34.52 | $15.65 | $3.27 |
Maximum sales charge - Class A shares | 3.25% | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | 3.25% |
Maximum offering price per share (100%/(100%-maximum sales charge) of net asset value adjusted to the nearest cent) - Class A shares | $10.93 | $63.56 | $24.27 | $40.67 | $36.34 | $16.47 | $3.38 |
Pricing of Class C Shares | |||||||
Net assets applicable to Class C shares | $37,087,115 | $20,147,368 | $5,565,431 | $1,769,074 | $17,918,035 | $9,107,496 | $42,045,885 |
Shares of beneficial interest outstanding (unlimited number of shares authorized, no par value) | 3,567,464 | 365,657 | 300,110 | 68,048 | 1,108,136 | 592,398 | 12,805,706 |
Net asset value and offering price per share** | $10.40 | $55.10 | $18.54 | $26.00 | $16.17 | $15.37 | $3.28 |
Pricing of Class Y Shares | |||||||
Net assets applicable to Class Y shares | $661,265,641 | $1,108,883,265 | $155,663,978 | $25,850,758 | $657,182,254 | $1,186,957,229 | $106,650,162 |
Shares of beneficial interest outstanding (unlimited number of shares authorized, no par value) | 62,368,999 | 18,114,192 | 6,468,113 | 631,004 | 17,896,583 | 75,423,491 | 32,687,745 |
Net asset value, offering price and redemption price per share | $10.60 | $61.22 | $24.07 | $40.97 | $36.72 | $15.74 | $3.26 |
Pricing of Institutional Class Shares | |||||||
Net assets applicable to Institutional Class shares | $34,177,319 | $18,824,723 | $9,747,419 | $73,623,705 | $229,027,898 | $1,252,461,045 | $262,914 |
Shares of beneficial interest outstanding (unlimited number of shares authorized, no par value) | 3,224,216 | 305,909 | 404,324 | 1,756,398 | 6,142,310 | 79,138,214 | 80,690 |
Net asset value, offering price and redemption price per share | $10.60 | $61.54 | $24.11 | $41.92 | $37.29 | $15.83 | $3.26 |
Pricing of Class R6 Shares | |||||||
Net assets applicable to Class R6 shares | $— | $— | $— | $— | $111,561,399 | $1,109,805,160 | $— |
Shares of beneficial interest outstanding (unlimited number of shares authorized, no par value) | — | — | — | — | 2,986,861 | 70,123,375 | — |
Net asset value, offering price and redemption price per share | $— | $— | $— | $— | $37.35 | $15.83 | $— |
* | There is no sales load on subscriptions of $1 million or more for all funds except for Flexible Income Fund and Strategic Income Opportunities Fund. There is no sales load on subscriptions of $500,000 or more for Flexible Income Fund and Strategic Income Opportunities Fund. Redemptions that were part of a $500,000 or $1 million or more subscription, as applicable, may be subject to a contingent deferred sales load if redeemed within a one-year period from the date of purchase. |
** | Redemption price per share varies by length of time shares are held due to the terms of the contingent deferred sales charge. |
Touchstone Flexible Income Fund | Touchstone Focused Fund | Touchstone Global ESG Equity Fund | Touchstone Growth Opportunities Fund | Touchstone Mid Cap Growth Fund | Touchstone Sands Capital Emerging Markets Growth Fund | Touchstone Strategic Income Opportunities Fund | |
Investment Income | |||||||
Dividends* | $7,211,289 | $12,276,115 | $12,606,317 | $1,330,284 | $7,921,327 | $25,954,826 | $580,805 |
Interest** | 28,266,848 | — | — | — | — | 8,753 | 12,562,468 |
Income from securities loaned | 281,571 | — | 82,044 | 83 | 971 | 572,709 | 37 |
Total Investment Income | 35,759,708 | 12,276,115 | 12,688,361 | 1,330,367 | 7,922,298 | 26,536,288 | 13,143,310 |
Expenses | |||||||
Investment advisory fees | 4,817,788 | 7,758,320 | 4,515,162 | 1,290,098 | 9,836,332 | 46,158,304 | 2,171,582 |
Administration fees | 1,119,727 | 1,611,946 | 901,274 | 223,043 | 1,834,265 | 5,979,730 | 358,258 |
Compliance fees and expenses | 3,073 | 3,073 | 3,073 | 3,073 | 3,073 | 3,073 | 2,312 |
Custody fees | 62,112 | 18,625 | 60,943 | 16,062 | 28,320 | 1,082,119 | 61,363 |
Professional fees | 53,694 | 52,822 | 51,927 | 28,472 | 62,379 | 168,555 | 72,338 |
Transfer Agent fees, Class A(A) | 91,011 | 42,788 | 322,672 | 48,358 | 275,293 | 24,152 | 254,443 |
Transfer Agent fees, Class C | 25,648 | 16,348 | 5,748 | 1,480 | 16,320 | 13,982 | 54,892 |
Transfer Agent fees, Class Y | 519,548 | 755,480 | 115,521 | 29,448 | 753,189 | 1,750,866 | 157,868 |
Transfer Agent fees, Institutional Class | 21,527 | 11,006 | 3,406 | 29,455 | 129,007 | 688,720 | 36 |
Transfer Agent fees, Class R6 | — | — | — | — | 308 | 278 | — |
Registration Fees, Class A(A) | 16,566 | 13,984 | 22,583 | 14,330 | 17,928 | 17,377 | 20,403 |
Registration Fees, Class C | 13,597 | 10,770 | 9,788 | 9,597 | 12,609 | 12,899 | 18,054 |
Registration Fees, Class Y | 39,347 | 30,991 | 16,817 | 10,767 | 25,115 | 125,357 | 27,763 |
Registration Fees, Institutional Class | 8,369 | 9,266 | 7,705 | 16,909 | 22,787 | 62,207 | 2,699 |
Registration Fees, Class R6 | — | — | — | — | 6,252 | 4,807 | — |
Dividend expense on securities sold short | 373,514 | — | — | — | — | — | — |
Interest expense on securities sold short | 98,250 | — | — | — | — | — | — |
Reports to Shareholders, Class A(A) | 9,208 | 4,092 | 21,013 | 4,157 | 15,509 | 7,116 | 31,698 |
Reports to Shareholders, Class C | 4,041 | 2,405 | 3,098 | 1,626 | 3,094 | 6,831 | 8,060 |
Reports to Shareholders, Class Y | 22,428 | 46,293 | 8,680 | 2,343 | 79,668 | 127,258 | 22,754 |
Reports to Shareholders, Institutional Class | 3,103 | 2,169 | 3,207 | 1,892 | 27,055 | 42,899 | 1,947 |
Reports to Shareholders, Class R6 | — | — | — | — | 1,016 | 2,078 | — |
Shareholder servicing fees, Class Y | — | — | — | — | — | — | 58,213 |
Distribution and shareholder servicing expenses, Class A(A) | 305,319 | 134,735 | 959,860 | 156,795 | 800,853 | 64,150 | 576,891 |
Distribution and shareholder servicing expenses, Class C | 412,490 | 242,401 | 67,981 | 18,561 | 185,743 | 113,654 | 501,776 |
Trustee fees | 26,076 | 26,076 | 26,076 | 26,076 | 26,076 | 26,076 | 27,813 |
Other expenses | 98,948 | 358,101 | 156,907 | 68,683 | 488,936 | 298,979 | 77,122 |
Total Expenses | 8,145,384 | 11,151,691 | 7,283,441 | 2,001,225 | 14,651,127 | 56,781,467 | 4,508,285 |
Fees waived and/or reimbursed by the Advisor and/or Affiliates(B) | (179,442) | (10,171) | (19,880) | (174,803) | (155,930) | (13,312) | (467,674) |
Net Expenses | 7,965,942 | 11,141,520 | 7,263,561 | 1,826,422 | 14,495,197 | 56,768,155 | 4,040,611 |
Net Investment Income (Loss) | 27,793,766 | 1,134,595 | 5,424,800 | (496,055) | (6,572,899) | (30,231,867) | 9,102,699 |
Realized and Unrealized Gains (Losses) on Investments | |||||||
Net realized gains (losses) on investments(C)(D) | (2,361,762) | 105,788,449 | 60,530,953 | 19,382,164 | 231,808,914 | (237,687,034) | 7,665,701 |
Net realized gains on securities sold short | 6,896,005 | — | — | — | — | — | — |
Net realized gains on written options | 520,097 | — | — | — | — | — | — |
Net realized gains on futures contracts | — | — | — | — | — | — | 101,305 |
Net realized gains on swap agreements | 1,989 | — | — | — | — | — | — |
Net realized gains on forward foreign currency contracts | — | — | — | — | — | — | 289,517 |
Net realized gains (losses) on foreign currency transactions | — | — | 65,036 | — | — | (292,401) | 10,916 |
Capital gain distributions | 22,470 | — | — | — | — | — | — |
Net change in unrealized appreciation (depreciation) on investments†(E) | (49,222,327) | 6,341,938 | (68,875,694) | (1,297,245) | (115,521,773) | (971,046,589) | (28,336,933) |
Net change in unrealized appreciation (depreciation) on securities sold short | (764,636) | — | — | — | — | — | — |
Net change in unrealized appreciation (depreciation) on futures contracts | — | — | — | — | — | — | (207,661) |
Net change in unrealized appreciation (depreciation) on forward foreign currency contracts | — | — | — | — | — | — | (564,784) |
Net change in unrealized appreciation (depreciation) on foreign currency transactions | — | — | (17,358) | — | — | 81,354 | 2,132 |
Net Realized and Unrealized Gains (Losses) on Investments | (44,908,164) | 112,130,387 | (8,297,063) | 18,084,919 | 116,287,141 | (1,208,944,670) | (21,039,807) |
Change in Net Assets Resulting from Operations | $(17,114,398) | $113,264,982 | $(2,872,263) | $17,588,864 | $109,714,242 | $(1,239,176,537) | $(11,937,108) |
*Net of foreign tax withholding of: | $36,692 | $— | $1,287,727 | $— | $22,225 | $3,210,177 | $— |
**Net of foreign tax withholding of: | $— | $— | $— | $— | $— | $— | $29,465 |
†Includes increase in deferred foreign capital gains tax of: | $— | $— | $— | $— | $— | $671,126 | $— |
(A) | Transfer Agent Fees, Registration Fees, Reports to Shareholders and Distribution and Shareholder Servicing Expenses for the Strategic Income Opportunities Fund include amounts for Class B shares of $10,630, $3,948, $1,619, and $39,904, respectively. Class B shares merged into Class A shares on July 16, 2021. |
(B) | See Note 4 in Notes to Financial Statements. |
(C) | Includes foreign capital gains taxes paid of $13,435,009 for the Sands Capital Emerging Markets Growth Fund. |
(D) | For the year ended March 31, 2022, the Focused Fund, the Growth Opportunities Fund, the Mid Cap Growth Fund and the Sands Capital Emerging Markets Growth Fund had a redemption-in-kind of securities in the amount of $49,584,624, $10,433,824, $152,205,388 and $50,688,037, respectively. Net realized gains (losses) on investments includes the realized gain on the transaction of $29,739,350, $5,504,973, $60,289,147 and $29,697,936, respectively, which will not be recognized by the Fund for tax purposes. |
(E) | Change in unrealized appreciation (depreciation) does not include net appreciation of $4,299,043, for the Strategic Income Opportunities Fund in connection with the Fund's reorganization. See Note 9 in the Notes to Financial Statements. |
Touchstone Flexible Income Fund | Touchstone Focused Fund | Touchstone Global ESG Equity Fund | ||||
For the Year Ended March 31, 2022 | For the Year Ended March 31, 2021 | For the Year Ended March 31, 2022 | For the Year Ended March 31, 2021 | For the Year Ended March 31, 2022 | For the Year Ended March 31, 2021 | |
From Operations | ||||||
Net investment income (loss) | $27,793,766 | $28,534,916 | $1,134,595 | $2,222,448 | $5,424,800 | $4,274,188 |
Net realized gains (losses) on investments, securities sold short, written options, futures contracts, swap agreements, forward foreign currency contracts, foreign currency transactions and capital gain distributions received | 5,078,799 | (3,408,359) | 105,788,449 | 113,770,654 | 60,595,989 | 66,392,214 |
Net change in unrealized appreciation (depreciation) on investments, securities sold short, futures contracts, forward foreign currency contracts and foreign currency transactions | (49,986,963) | 76,082,971 | 6,341,938 | 380,150,794 | (68,893,052) | 198,003,928 |
Change in Net Assets from Operations | (17,114,398) | 101,209,528 | 113,264,982 | 496,143,896 | (2,872,263) | 268,670,330 |
Distributions to Shareholders: | ||||||
Distributed earnings, Class A | (3,914,740) | (5,278,794) | (2,981,004) | (2,153,855) | (55,428,678) | (1,587,449) |
Distributed earnings, Class B | — | — | — | — | — | — |
Distributed earnings, Class C | (1,030,204) | (1,865,099) | (1,434,791) | (1,430,957) | (801,994) | — |
Distributed earnings, Class Y | (22,656,138) | (26,122,141) | (65,864,852) | (53,264,171) | (18,663,839) | (940,684) |
Distributed earnings, Institutional Class | (1,622,568) | (1,479,966) | (1,697,569) | (817,067) | (1,214,241) | (65,145) |
Distributed earnings, Class R6 | — | — | — | — | — | — |
Total Distributions | (29,223,650) | (34,746,000) | (71,978,216) | (57,666,050) | (76,108,752) | (2,593,278) |
Change in Net Assets from Share Transactions(B) | 103,096,464 | 82,253,829 | 11,900,180 | (36,832,260) | 7,273,709 | (78,741,029) |
Total Increase (Decrease) in Net Assets | 56,758,416 | 148,717,357 | 53,186,946 | 401,645,586 | (71,707,306) | 187,336,023 |
Net Assets | ||||||
Beginning of period | 789,652,152 | 640,934,795 | 1,147,695,964 | 746,050,378 | 700,434,096 | 513,098,073 |
End of period | $846,410,568 | $789,652,152 | $1,200,882,910 | $1,147,695,964 | $628,726,790 | $700,434,096 |
(A) | See Note 9 in Notes to Financial Statements. |
(B) | For details on share transactions by class, see Statements of Changes in Net Assets - Capital Stock Activity in pages 52-55. |
Touchstone Growth Opportunities Fund | Touchstone Mid Cap Growth Fund | Touchstone Sands Capital Emerging Markets Growth Fund | Touchstone Strategic Income Opportunities Fund | ||||
For the Year Ended March 31, 2022 | For the Year Ended March 31, 2021 | For the Year Ended March 31, 2022 | For the Year Ended March 31, 2021 | For the Year Ended March 31, 2022 | For the Year Ended March 31, 2021 | For the Year Ended March 31, 2022(A) | For the Year Ended March 31, 2021 |
$(496,055) | $(557,556) | $(6,572,899) | $(7,641,364) | $(30,231,867) | $(22,877,687) | $9,102,699 | $9,833,238 |
19,382,164 | 33,445,786 | 231,808,914 | 272,551,221 | (237,979,435) | 34,300,447 | 8,067,439 | 9,010,153 |
(1,297,245) | 49,085,637 | (115,521,773) | 354,354,600 | (970,965,235) | 1,243,531,916 | (29,107,246) | 21,780,178 |
17,588,864 | 81,973,867 | 109,714,242 | 619,264,457 | (1,239,176,537) | 1,254,954,676 | (11,937,108) | 40,623,569 |
(10,095,137) | (5,299,262) | (48,088,579) | (21,913,745) | (393,240) | — | (5,076,894) | (5,433,173) |
— | — | — | — | — | — | (92,062) | (385,245) |
(389,665) | (276,553) | (5,041,824) | (2,351,555) | (119,388) | — | (846,395) | (1,251,979) |
(4,474,202) | (2,983,605) | (98,678,809) | (39,864,933) | (29,163,383) | — | (3,939,569) | (4,228,308) |
(11,185,510) | (6,264,896) | (50,376,807) | (28,507,143) | (41,115,494) | — | (4,036) | — |
— | — | (5,039,178) | (111,845) | (13,193,519) | — | — | — |
(26,144,514) | (14,824,316) | (207,225,197) | (92,749,221) | (83,985,024) | — | (9,958,956) | (11,298,705) |
9,872,785 | (69,060,834) | 44,308,317 | (195,258,516) | 543,334,433 | 1,791,364,885 | (18,679,977) | 41,008,916 |
1,317,135 | (1,911,283) | (53,202,638) | 331,256,720 | (779,827,128) | 3,046,319,561 | (40,576,041) | 70,333,780 |
160,932,874 | 162,844,157 | 1,368,655,231 | 1,037,398,511 | 4,357,851,877 | 1,311,532,316 | 367,108,585 | 296,774,805 |
$162,250,009 | $160,932,874 | $1,315,452,593 | $1,368,655,231 | $3,578,024,749 | $4,357,851,877 | $326,532,544 | $367,108,585 |
Touchstone Flexible Income Fund | Touchstone Focused Fund | |||||||
For the Year Ended March 31, 2022 | For the Year Ended March 31, 2021 | For the Year Ended March 31, 2022 | For the Year Ended March 31, 2021 | |||||
Shares | Dollars | Shares | Dollars | Shares | Dollars | Shares | Dollars | |
Class A | ||||||||
Proceeds from Shares issued | 1,667,801 | $18,708,179 | 2,840,796 | $31,345,303 | 251,214 | $15,729,509 | 251,563 | $12,943,588 |
Reinvestment of distributions | 287,086 | 3,194,417 | 403,612 | 4,461,293 | 40,130 | 2,514,954 | 35,107 | 1,821,706 |
Cost of Shares redeemed | (2,092,760) | (23,321,227) | (2,228,003) | (24,536,572) | (241,848) | (15,316,752) | (223,201) | (10,767,368) |
Change from Class A Share Transactions | (137,873) | (1,418,631) | 1,016,405 | 11,270,024 | 49,496 | 2,927,711 | 63,469 | 3,997,926 |
Class C | ||||||||
Proceeds from Shares issued | 570,123 | 6,275,318 | 735,883 | 7,973,288 | 13,299 | 768,119 | 11,317 | 524,313 |
Reinvestment of distributions | 84,578 | 926,694 | 146,221 | 1,591,133 | 24,476 | 1,402,008 | 28,001 | 1,345,159 |
Cost of Shares redeemed | (1,144,286) | (12,561,013) | (1,954,282) | (21,048,203) | (139,769) | (8,043,500) | (216,361) | (9,639,449) |
Change from Class C Share Transactions | (489,585) | (5,359,001) | (1,072,178) | (11,483,782) | (101,994) | (5,873,373) | (177,043) | (7,769,977) |
Class Y | ||||||||
Proceeds from Shares issued | 22,477,042 | 252,114,312 | 19,864,583 | 220,062,508 | 491,672 | 30,921,050 | 396,405 | 19,966,667 |
Reinvestment of distributions | 1,864,466 | 20,791,361 | 2,171,185 | 24,083,355 | 998,513 | 63,493,935 | 975,935 | 51,346,021 |
Cost of Shares redeemed | (14,691,501) | (163,062,234) | (15,443,838) | (169,306,158) | (1,290,574) | (81,764,429) | (1,950,332) | (95,698,599) |
Change from Class Y Share Transactions | 9,650,007 | 109,843,439 | 6,591,930 | 74,839,705 | 199,611 | 12,650,556 | (577,992) | (24,385,911) |
Institutional Class | ||||||||
Proceeds from Shares issued | 4,586,557 | 51,827,041 | 1,396,030 | 15,517,816 | 1,139,671 | 73,216,877 | 1,838,766 | 89,867,250 |
Reinvestment of distributions | 102,953 | 1,154,181 | 93,094 | 1,031,402 | 26,163 | 1,671,930 | 14,676 | 776,182 |
Cost of Shares redeemed | (4,708,529) | (52,950,565) | (806,241) | (8,921,336) | (1,117,980) | (72,693,521) | (2,008,192) | (99,317,730) |
Change from Institutional Class Share Transactions | (19,019) | 30,657 | 682,883 | 7,627,882 | 47,854 | 2,195,286 | (154,750) | (8,674,298) |
Change from Share Transactions | 9,003,530 | $103,096,464 | 7,219,040 | $82,253,829 | 194,967 | $11,900,180 | (846,316) | $(36,832,260) |
Touchstone Global ESG Equity Fund | Touchstone Growth Opportunities Fund | ||||||
For the Year Ended March 31, 2022 | For the Year Ended March 31, 2021 | For the Year Ended March 31, 2022 | For the Year Ended March 31, 2021 | ||||
Shares | Dollars | Shares | Dollars | Shares | Dollars | Shares | Dollars |
432,087 | $11,322,133 | 396,735 | $8,721,587 | 116,102 | $5,145,067 | 87,918 | $3,266,253 |
2,136,876 | 52,709,823 | 60,977 | 1,507,353 | 235,351 | 9,694,083 | 130,107 | 5,057,274 |
(1,705,650) | (44,459,413) | (2,085,406) | (46,097,121) | (157,163) | (6,656,749) | (162,699) | (6,232,248) |
863,313 | 19,572,543 | (1,627,694) | (35,868,181) | 194,290 | 8,182,401 | 55,326 | 2,091,279 |
24,229 | 516,469 | 26,993 | 529,386 | 5,591 | 158,216 | 2,453 | 68,989 |
38,229 | 754,402 | — | — | 13,708 | 380,795 | 9,531 | 269,741 |
(122,724) | (2,672,085) | (246,181) | (4,330,629) | (13,344) | (417,551) | (78,433) | (2,196,413) |
(60,266) | (1,401,214) | (219,188) | (3,801,243) | 5,955 | 121,460 | (66,449) | (1,857,683) |
1,119,047 | 30,099,850 | 1,187,900 | 26,934,242 | 62,537 | 2,694,760 | 225,691 | 7,953,280 |
684,123 | 17,627,865 | 34,565 | 886,951 | 100,436 | 4,383,031 | 71,950 | 2,931,242 |
(2,065,129) | (56,169,100) | (2,286,476) | (50,260,030) | (245,530) | (10,959,478) | (498,231) | (18,257,698) |
(261,959) | (8,441,385) | (1,064,011) | (22,438,837) | (82,557) | (3,881,687) | (200,590) | (7,373,176) |
55,768 | 1,586,151 | 219,555 | 5,270,130 | 418,535 | 18,866,379 | 290,108 | 10,798,698 |
36,893 | 951,899 | 1,577 | 40,541 | 250,571 | 11,185,510 | 150,998 | 6,264,896 |
(176,204) | (4,994,285) | (975,584) | (21,943,439) | (540,597) | (24,601,278) | (2,070,981) | (78,984,848) |
(83,543) | (2,456,235) | (754,452) | (16,632,768) | 128,509 | 5,450,611 | (1,629,875) | (61,921,254) |
457,545 | $7,273,709 | (3,665,345) | $(78,741,029) | 246,197 | $9,872,785 | (1,841,588) | $(69,060,834) |
Touchstone Mid Cap Growth Fund | Touchstone Sands Capital Emerging Markets Growth Fund | |||||||
For the Year Ended March 31, 2022 | For the Year Ended March 31, 2021 | For the Year Ended March 31, 2022(A) | For the Year Ended March 31, 2021 | |||||
Shares | Dollars | Shares | Dollars | Shares | Dollars | Shares | Dollars | |
Class A(D) | ||||||||
Proceeds from Shares issued | 609,620 | $22,987,724 | 1,067,011 | $34,084,944 | 932,246 | $19,378,943 | 1,005,659 | $20,130,781 |
Proceeds from Shares issued in connection with reorganization(C) | — | — | — | — | — | — | — | — |
Reinvestment of distributions | 1,172,612 | 43,046,572 | 541,386 | 19,879,699 | 18,043 | 338,842 | — | — |
Cost of Shares redeemed | (1,648,188) | (65,483,714) | (2,471,731) | (85,865,487) | (650,702) | (13,094,200) | (302,118) | (5,795,374) |
Shares issued (reacquired) upon automatic conversion | — | — | — | — | — | — | — | — |
Change from Class A Share Transactions | 134,044 | 550,582 | (863,334) | (31,900,844) | 299,587 | 6,623,585 | 703,541 | 14,335,407 |
Class B(D) | ||||||||
Proceeds from Shares issued | — | — | — | — | — | — | — | — |
Reinvestment of distributions | — | — | — | — | — | — | — | — |
Share conversion in connection with reorganization(C) | — | — | — | — | — | — | — | — |
Cost of Shares redeemed | — | — | — | — | — | — | — | — |
Shares issued (reacquired) upon automatic conversion | — | — | — | — | — | — | — | — |
Change from Class B Share Transactions | — | — | — | — | — | — | — | — |
Class C | ||||||||
Proceeds from Shares issued | 256,212 | 4,681,124 | 76,143 | 1,468,504 | 247,366 | 5,076,527 | 392,695 | 8,087,311 |
Proceeds from Shares issued in connection with reorganization(C) | — | — | — | — | — | — | — | — |
Reinvestment of distributions | 284,933 | 4,912,253 | 111,664 | 2,265,668 | 5,585 | 103,264 | — | — |
Cost of Shares redeemed | (344,107) | (6,896,222) | (713,332) | (13,647,825) | (121,471) | (2,287,859) | (32,579) | (574,799) |
Shares issued (reacquired) upon automatic conversion | — | — | — | — | — | — | — | — |
Change from Class C Share Transactions | 197,038 | 2,697,155 | (525,525) | (9,913,653) | 131,480 | 2,891,932 | 360,116 | 7,512,512 |
Class Y(E) | ||||||||
Proceeds from Shares issued | 3,105,793 | 124,588,934 | 3,838,529 | 135,254,385 | 48,172,669 | 986,485,910 | 49,959,576 | 1,004,168,771 |
Proceeds from Shares issued in connection with reorganization(C) | — | — | — | — | — | — | — | — |
Reinvestment of distributions | 2,372,638 | 92,627,783 | 967,681 | 37,362,145 | 1,333,117 | 25,169,244 | — | — |
Cost of Shares redeemed | (3,743,224) | (153,939,239) | (4,940,786) | (175,997,171) | (42,471,629) | (813,009,608) | (18,838,544) | (356,921,406) |
Change from Class Y Share Transactions | 1,735,207 | 63,277,478 | (134,576) | (3,380,641) | 7,034,157 | 198,645,546 | 31,121,032 | 647,247,365 |
Institutional Class | ||||||||
Proceeds from Shares issued | 5,904,177 | 248,082,533 | 7,022,230 | 257,938,408 | 43,802,336 | 910,162,747 | 76,112,190 | 1,483,255,179 |
Reinvestment of distributions | 946,844 | 37,513,952 | 513,798 | 20,068,967 | 1,433,905 | 27,215,524 | — | — |
Cost of Shares redeemed | (10,207,590) | (421,663,326) | (11,629,901) | (432,407,355) | (99,672,313) | (2,063,656,334) | (19,830,368) | (360,985,578) |
Change from Institutional Class Share Transactions | (3,356,569) | (136,066,841) | (4,093,873) | (154,399,980) | (54,436,072) | (1,126,278,063) | 56,281,822 | 1,122,269,601 |
Class R6 | ||||||||
Proceeds from Shares issued | 3,279,068 | 128,766,328 | 120,268 | 4,562,600 | 81,005,724 | 1,661,844,627 | — | — |
Reinvestment of distributions | 103,297 | 4,098,831 | 2,862 | 111,845 | 131,400 | 2,492,653 | — | — |
Cost of Shares redeemed | (510,052) | (19,015,216) | (8,652) | (337,843) | (11,013,749) | (202,885,847) | — | — |
Change from Class R6 Share Transactions | 2,872,313 | 113,849,943 | 114,478 | 4,336,602 | 70,123,375 | 1,461,451,433 | — | — |
Change from Share Transactions | 1,582,033 | $44,308,317 | (5,502,830) | $(195,258,516) | 23,152,527 | $543,334,433 | 88,466,511 | $1,791,364,885 |
(A) | Represents the period from commencement of operations (April 26, 2021) through March 31, 2022 for Class R6. |
(B) | Represents the period from commencement of operations (July 19, 2021) through March 31, 2022 for Institutional Class. |
(C) | See Note 9 in Notes to Financial Statements |
(D) | Effective July 16, 2021, Class B shares of the AIG Strategic Bond Fund were reorganized into Class A shares of the Touchstone Strategic Income Opportunities Fund. |
(E) | Effective July 16, 2021, Class W shares of the AIG Strategic Bond Fund were reorganized into Class Y shares of the Touchstone Strategic Income Opportunities Fund. |
Touchstone Strategic Income Opportunities Fund | |||
For the Year Ended March 31, 2022(B) (C) | For the Year Ended March 31, 2021 | ||
Shares | Dollars | Shares | Dollars |
4,815,857 | $16,755,101 | 11,723,775 | $40,489,625 |
26,968,139 | 94,970,590 | — | — |
1,239,383 | 4,277,504 | 1,375,200 | 4,733,156 |
(28,766,399) | (100,196,298) | (10,140,821) | (35,002,379) |
— | — | 1,474,886 | 5,083,563 |
4,256,980 | 15,806,897 | 4,433,040 | 15,303,965 |
27,227 | 94,973 | 2,206,559 | 7,531,595 |
22,614 | 79,292 | 99,176 | 340,859 |
(3,685,534) | (12,956,491) | — | — |
(423,691) | (1,483,312) | (2,218,556) | (7,622,904) |
— | — | (287,296) | (976,210) |
(4,059,384) | (14,265,538) | (200,117) | (726,660) |
394,276 | 1,380,604 | 3,688,032 | 12,667,482 |
9,310,842 | 32,869,573 | — | — |
183,496 | 634,467 | 278,824 | 960,806 |
(8,410,971) | (29,216,271) | (7,168,100) | (24,718,370) |
— | — | (1,184,165) | (4,107,353) |
1,477,643 | 5,668,373 | (4,385,409) | (15,197,435) |
7,611,638 | 26,407,679 | 34,392,953 | 118,154,325 |
26,820,573 | 94,266,176 | — | — |
794,450 | 2,740,342 | 939,055 | 3,234,705 |
(42,985,020) | (149,585,379) | (23,435,348) | (79,759,984) |
(7,758,359) | (26,171,182) | 11,896,660 | 41,629,046 |
84,145 | 293,419 | — | — |
1,194 | 4,036 | — | — |
(4,649) | (15,982) | — | — |
80,690 | 281,473 | — | — |
— | — | — | — |
— | — | — | — |
— | — | — | — |
— | — | — | — |
(6,002,430) | $(18,679,977) | 11,744,174 | $41,008,916 |
Touchstone Flexible Income Fund—Class A | |||||
Selected Data for a Share Outstanding Throughout Each Period | |||||
Year Ended March 31, | |||||
2022 | 2021 | 2020 | 2019 | 2018 | |
Net asset value at beginning of period | $11.11 | $10.05 | $10.75 | $10.81 | $10.71 |
Income (loss) from investment operations: | |||||
Net investment income | 0.34 | 0.41 | 0.34 | 0.39 | 0.26 |
Net realized and unrealized gains (losses) on investments | (0.52) | 1.16 | (0.68) | (0.01) | 0.11 |
Total from investment operations | (0.18) | 1.57 | (0.34) | 0.38 | 0.37 |
Distributions from: | |||||
Net investment income | (0.36) | (0.41) | (0.36) | (0.38) | (0.27) |
Realized capital gains | — | (0.10) | — | (0.06) | — |
Total distributions | (0.36) | (0.51) | (0.36) | (0.44) | (0.27) |
Net asset value at end of period | $10.57 | $11.11 | $10.05 | $10.75 | $10.81 |
Total return(A) | (1.76%) | 15.72% | (3.33%) | 3.59% | 3.46% |
Ratios and supplemental data: | |||||
Net assets at end of period (000's) | $113,880 | $121,317 | $99,460 | $110,460 | $136,609 |
Ratio to average net assets: | |||||
Net expenses (including dividend and interest expense on securities sold short) | 1.09%(B) | 1.04% | 1.05%(B) | 1.04% | 1.06%(B) |
Gross expenses (including dividend and interest expense on securities sold short) | 1.11%(C) | 1.09% | 1.14%(C) | 1.11% | 1.14%(C) |
Net investment income | 3.05% | 3.79% | 3.12% | 3.50% | 2.60% |
Portfolio turnover rate | 61% | 103% | 136% | 171% | 100%(D) |
Touchstone Flexible Income Fund—Class C | |||||
Selected Data for a Share Outstanding Throughout Each Period | |||||
Year Ended March 31, | |||||
2022 | 2021 | 2020 | 2019 | 2018 | |
Net asset value at beginning of period | $10.94 | $9.90 | $10.60 | $10.67 | $10.57 |
Income (loss) from investment operations: | |||||
Net investment income | 0.25 | 0.32 | 0.24 | 0.30 | 0.20 |
Net realized and unrealized gains (losses) on investments | (0.51) | 1.15 | (0.66) | (0.01) | 0.09 |
Total from investment operations | (0.26) | 1.47 | (0.42) | 0.29 | 0.29 |
Distributions from: | |||||
Net investment income | (0.28) | (0.33) | (0.28) | (0.30) | (0.19) |
Realized capital gains | — | (0.10) | — | (0.06) | — |
Total distributions | (0.28) | (0.43) | (0.28) | (0.36) | (0.19) |
Net asset value at end of period | $10.40 | $10.94 | $9.90 | $10.60 | $10.67 |
Total return(A) | (2.52%) | 14.89% | (4.09%) | 2.77% | 2.73% |
Ratios and supplemental data: | |||||
Net assets at end of period (000's) | $37,087 | $44,389 | $50,767 | $66,926 | $100,800 |
Ratio to average net assets: | |||||
Net expenses (including dividend and interest expense on securities sold short) | 1.84%(B) | 1.79% | 1.80%(B) | 1.79% | 1.81%(B) |
Gross expenses (including dividend and interest expense on securities sold short) | 1.87%(C) | 1.85% | 1.91%(C) | 1.86% | 1.89%(C) |
Net investment income | 2.30% | 3.04% | 2.37% | 2.75% | 1.85% |
Portfolio turnover rate | 61% | 103% | 136% | 171% | 100%(D) |
(A) | Total returns shown exclude the effect of applicable sales loads and fees. If these charges were included, the returns would be lower. |
(B) | The ratio of net expenses to average net assets excluding dividend and interest expense on securities sold short for Class A was 1.04%, 1.04% and 1.06% and for Class C was 1.79%, 1.79% and 1.81% for the years ended March 31, 2022, 2020, and 2018, respectively. |
(C) | The ratio of gross expenses to average net assets excluding dividend and interest expense on securities sold short for Class A was 1.06%, 1.13% and 1.14% and for Class C was 1.82%, 1.90% and 1.89% for the years ended March 31, 2022, 2020 and 2018, respectively. |
(D) | Portfolio turnover excludes the purchases and sales of securities of the Sentinel Multi-Asset Income Fund acquired on October 27, 2017. If these transactions were included, portfolio turnover would have been higher. |
Touchstone Flexible Income Fund—Class Y | |||||
Selected Data for a Share Outstanding Throughout Each Period | |||||
Year Ended March 31, | |||||
2022 | 2021 | 2020 | 2019 | 2018 | |
Net asset value at beginning of period | $11.15 | $10.08 | $10.78 | $10.85 | $10.75 |
Income (loss) from investment operations: | |||||
Net investment income | 0.36 | 0.44 | 0.37 | 0.42 | 0.31 |
Net realized and unrealized gains (losses) on investments | (0.53) | 1.17 | (0.68) | (0.02) | 0.09 |
Total from investment operations | (0.17) | 1.61 | (0.31) | 0.40 | 0.40 |
Distributions from: | |||||
Net investment income | (0.38) | (0.44) | (0.39) | (0.41) | (0.30) |
Realized capital gains | — | (0.10) | — | (0.06) | — |
Total distributions | (0.38) | (0.54) | (0.39) | (0.47) | (0.30) |
Net asset value at end of period | $10.60 | $11.15 | $10.08 | $10.78 | $10.85 |
Total return | (1.61%) | 16.07% | (3.07%) | 3.75% | 3.71% |
Ratios and supplemental data: | |||||
Net assets at end of period (000's) | $661,266 | $587,810 | $464,910 | $459,861 | $628,693 |
Ratio to average net assets: | |||||
Net expenses (including dividend and interest expense on securities sold short) | 0.84%(A) | 0.79% | 0.80%(A) | 0.79% | 0.82%(A) |
Gross expenses (including dividend and interest expense on securities sold short) | 0.85%(B) | 0.83% | 0.87%(B) | 0.84% | 0.90%(B) |
Net investment income | 3.30% | 4.04% | 3.37% | 3.75% | 2.84% |
Portfolio turnover rate | 61% | 103% | 136% | 171% | 100%(C) |
Touchstone Flexible Income Fund—Institutional Class | |||||
Selected Data for a Share Outstanding Throughout Each Period | |||||
Year Ended March 31, | |||||
2022 | 2021 | 2020 | 2019 | 2018 | |
Net asset value at beginning of period | $11.14 | $10.08 | $10.78 | $10.84 | $10.74 |
Income (loss) from investment operations: | |||||
Net investment income | 0.37 | 0.45 | 0.40 | 0.44 | 0.33 |
Net realized and unrealized gains (losses) on investments | (0.52) | 1.16 | (0.70) | (0.02) | 0.08 |
Total from investment operations | (0.15) | 1.61 | (0.30) | 0.42 | 0.41 |
Distributions from: | |||||
Net investment income | (0.39) | (0.45) | (0.40) | (0.42) | (0.31) |
Realized capital gains | — | (0.10) | — | (0.06) | — |
Total distributions | (0.39) | (0.55) | (0.40) | (0.48) | (0.31) |
Net asset value at end of period | $10.60 | $11.14 | $10.08 | $10.78 | $10.84 |
Total return | (1.45%) | 16.19% | (3.02%) | 3.95% | 3.81% |
Ratios and supplemental data: | |||||
Net assets at end of period (000's) | $34,177 | $36,136 | $25,798 | $59,138 | $86,578 |
Ratio to average net assets: | |||||
Net expenses (including dividend and interest expense on securities sold short) | 0.74%(A) | 0.69% | 0.70%(A) | 0.69% | 0.72%(A) |
Gross expenses (including dividend and interest expense on securities sold short) | 0.84%(B) | 0.84% | 0.88%(B) | 0.82% | 0.86%(B) |
Net investment income | 3.40% | 4.14% | 3.47% | 3.85% | 2.94% |
Portfolio turnover rate | 61% | 103% | 136% | 171% | 100%(C) |
(A) | The ratio of net expenses to average net assets excluding dividend and interest expense on securities sold short for Class Y was 0.79%, 0.79% and 0.82% and for Institutional Class was 0.69%, 0.69% and 0.72% for the years ended March 31, 2022, 2020 and 2018, respectively. |
(B) | The ratio of gross expenses to average net assets excluding dividend and interest expense on securities sold short for Class Y was 0.80%, 0.86% and 0.90% and for Institutional Class was 0.79%, 0.87% and 0.86% for the years ended March 31, 2022, 2020 and 2018, respectively. |
(C) | Portfolio turnover excludes the purchases and sales of securities of the Sentinel Multi-Asset Income Fund acquired on October 27, 2017. If these transactions were included, portfolio turnover would have been higher. |
Touchstone Focused Fund—Class A | |||||
Selected Data for a Share Outstanding Throughout Each Period | |||||
Year Ended March 31, | |||||
2022 | 2021 | 2020 | 2019 | 2018 | |
Net asset value at beginning of period | $58.43 | $36.45 | $42.68 | $42.93 | $41.47 |
Income (loss) from investment operations: | |||||
Net investment income (loss)(A) | (0.10) | (0.02) | 0.14 | 0.14 | 0.17 |
Net realized and unrealized gains (losses) on investments | 5.72 | 24.92 | (3.56) | 1.39 | 4.02 |
Total from investment operations | 5.62 | 24.90 | (3.42) | 1.53 | 4.19 |
Distributions from: | |||||
Net investment income | (0.03) | — | (0.10) | (0.01) | — |
Realized capital gains | (3.64) | (2.92) | (2.71) | (1.77) | (2.73) |
Total distributions | (3.67) | (2.92) | (2.81) | (1.78) | (2.73) |
Net asset value at end of period | $60.38 | $58.43 | $36.45 | $42.68 | $42.93 |
Total return(B) | 9.38% | 69.38% | (9.14%) | 3.82% | 10.13% |
Ratios and supplemental data: | |||||
Net assets at end of period (000's) | $53,028 | $48,419 | $27,889 | $55,399 | $167,354 |
Ratio to average net assets: | |||||
Net expenses (including liquidity provider expenses) | 1.15%(C) | 1.22%(C) | 1.20%(D) | 1.20% | 1.20% |
Gross expenses (including liquidity provider expenses) | 1.15%(E) | 1.22%(E) | 1.19% | 1.32% | 1.29% |
Net investment income (loss) | (0.17%) | (0.05%) | 0.31% | 0.32% | 0.40% |
Portfolio turnover rate | 14%(F) | 18%(F) | 13% | 12% | 8%(F) |
Touchstone Focused Fund—Class C | |||||
Selected Data for a Share Outstanding Throughout Each Period | |||||
Year Ended March 31, | |||||
2022 | 2021 | 2020 | 2019 | 2018 | |
Net asset value at beginning of period | $53.97 | $34.06 | $40.26 | $40.89 | $39.90 |
Income (loss) from investment operations: | |||||
Net investment loss(A) | (0.53) | (0.36) | (0.18) | (0.18) | (0.14) |
Net realized and unrealized gains (losses) on investments | 5.30 | 23.19 | (3.31) | 1.32 | 3.86 |
Total from investment operations | 4.77 | 22.83 | (3.49) | 1.14 | 3.72 |
Distributions from: | |||||
Realized capital gains | (3.64) | (2.92) | (2.71) | (1.77) | (2.73) |
Net asset value at end of period | $55.10 | $53.97 | $34.06 | $40.26 | $40.89 |
Total return(B) | 8.58% | 68.10% | (9.80%) | 3.03% | 9.34% |
Ratios and supplemental data: | |||||
Net assets at end of period (000's) | $20,147 | $25,241 | $21,961 | $33,875 | $41,635 |
Ratio to average net assets: | |||||
Net expenses (including liquidity provider expenses) | 1.91%(C) | 1.96%(C) | 1.95% | 1.95% | 1.94% |
Gross expenses (including liquidity provider expenses) | 1.91%(E) | 1.96%(E) | 1.98% | 1.95% | 1.94% |
Net investment loss | (0.92%) | (0.79%) | (0.44%) | (0.43%) | (0.34%) |
Portfolio turnover rate | 14%(F) | 18%(F) | 13% | 12% | 8%(F) |
(A) | The net investment income (loss) per share was based on average shares outstanding for the period. |
(B) | Total returns shown exclude the effect of applicable sales loads and fees. If these charges were included, the returns would be lower. |
(C) | The ratio of net expenses to average net assets excluding liquidity provider expenses for Class A was 1.14% and 1.20% and for Class C was 1.90% and 1.94%, for the years ended March 31, 2022 and 2021, respectively. |
(D) | Net expenses include amounts recouped by the Advisor. |
(E) | The ratio of gross expenses to average net assets excluding liquidity provider expenses for Class A was 1.14% and 1.20% and for Class C was 1.90% and 1.94% for the years ended March 31, 2022 and 2021, respectively. |
(F) | Portfolio turnover excludes securities delivered from processing redemptions-in-kind. |
Touchstone Focused Fund—Class Y | |||||
Selected Data for a Share Outstanding Throughout Each Period | |||||
Year Ended March 31, | |||||
2022 | 2021 | 2020 | 2019 | 2018 | |
Net asset value at beginning of period | $59.10 | $36.82 | $43.12 | $43.50 | $42.21 |
Income (loss) from investment operations: | |||||
Net investment income(A) | 0.08 | 0.13 | 0.26 | 0.27 | 0.31 |
Net realized and unrealized gains (losses) on investments | 5.80 | 25.21 | (3.58) | 1.39 | 4.08 |
Total from investment operations | 5.88 | 25.34 | (3.32) | 1.66 | 4.39 |
Distributions from: | |||||
Net investment income | (0.12) | (0.14) | (0.27) | (0.27) | (0.37) |
Realized capital gains | (3.64) | (2.92) | (2.71) | (1.77) | (2.73) |
Total distributions | (3.76) | (3.06) | (2.98) | (2.04) | (3.10) |
Net asset value at end of period | $61.22 | $59.10 | $36.82 | $43.12 | $43.50 |
Total return | 9.71% | 69.89% | (8.86%) | 4.13% | 10.43% |
Ratios and supplemental data: | |||||
Net assets at end of period (000's) | $1,108,883 | $1,058,713 | $680,934 | $879,704 | $972,273 |
Ratio to average net assets: | |||||
Net expenses (including liquidity provider expenses) | 0.86%(B) | 0.91%(B) | 0.91% | 0.91% | 0.91% |
Gross expenses (including liquidity provider expenses) | 0.86%(C) | 0.91%(C) | 0.91% | 0.91% | 0.91% |
Net investment income | 0.12% | 0.27% | 0.60% | 0.61% | 0.69% |
Portfolio turnover rate | 14%(D) | 18%(D) | 13% | 12% | 8%(D) |
Touchstone Focused Fund—Institutional Class | |||||
Selected Data for a Share Outstanding Throughout Each Period | |||||
Year Ended March 31, | |||||
2022 | 2021 | 2020 | 2019 | 2018 | |
Net asset value at beginning of period | $59.38 | $36.98 | $43.30 | $43.68 | $42.38 |
Income (loss) from investment operations: | |||||
Net investment income(A) | 0.09 | 0.16 | 0.30 | 0.30 | 0.34 |
Net realized and unrealized gains (losses) on investments | 5.84 | 25.33 | (3.60) | 1.39 | 4.11 |
Total from investment operations | 5.93 | 25.49 | (3.30) | 1.69 | 4.45 |
Distributions from: | |||||
Net investment income | (0.13) | (0.17) | (0.31) | (0.30) | (0.42) |
Realized capital gains | (3.64) | (2.92) | (2.71) | (1.77) | (2.73) |
Total distributions | (3.77) | (3.09) | (3.02) | (2.07) | (3.15) |
Net asset value at end of period | $61.54 | $59.38 | $36.98 | $43.30 | $43.68 |
Total return | 9.75% | 70.00% | (8.79%) | 4.20% | 10.54% |
Ratios and supplemental data: | |||||
Net assets at end of period (000's) | $18,825 | $15,323 | $15,267 | $29,382 | $22,556 |
Ratio to average net assets: | |||||
Net expenses (including liquidity provider expenses) | 0.84%(B) | 0.85%(B) | 0.83% | 0.83% | 0.83% |
Gross expenses (including liquidity provider expenses) | 0.88%(C) | 0.94%(C) | 0.92% | 0.92% | 0.92% |
Net investment income | 0.15% | 0.32% | 0.68% | 0.69% | 0.77% |
Portfolio turnover rate | 14%(D) | 18%(D) | 13% | 12% | 8%(D) |
(A) | The net investment income per share was based on average shares outstanding for the period. |
(B) | The ratio of net expenses to average net assets excluding liquidity provider expenses for Class Y was 0.85% and 0.89% and for Institutional Class was 0.83% and 0.83% for the years ended March 31, 2022 and 2021, respectively. |
(C) | The ratio of gross expenses to average net assets excluding liquidity provider expenses for Class Y was 0.85% and 0.89% and for Institutional Class was 0.87% and 0.92% for the years ended March 31, 2022 and 2021, respectively. |
(D) | Portfolio turnover excludes securities delivered from processing redemptions-in-kind. |
Touchstone Global ESG Equity Fund—Class A | |||||
Selected Data for a Share Outstanding Throughout Each Period | |||||
Year Ended March 31, | |||||
2022 | 2021 | 2020 | 2019 | 2018 | |
Net asset value at beginning of period | $26.16 | $16.84 | $19.94 | $22.01 | $21.52 |
Income (loss) from investment operations: | |||||
Net investment income | 0.18 | 0.14(A) | 0.17(A) | 0.15 | 0.03 |
Net realized and unrealized gains (losses) on investments | (0.27) | 9.26 | (2.78) | (0.29) | 3.37 |
Total from investment operations | (0.09) | 9.40 | (2.61) | (0.14) | 3.40 |
Distributions from: | |||||
Net investment income | (0.23) | (0.08) | (0.15) | (0.17) | (0.17) |
Realized capital gains | (2.78) | — | (0.34) | (1.76) | (2.74) |
Total distributions | (3.01) | (0.08) | (0.49) | (1.93) | (2.91) |
Net asset value at end of period | $23.06 | $26.16 | $16.84 | $19.94 | $22.01 |
Total return(B) | (0.98%) | 55.86% | 13.61% | (0.37%) | 15.57% |
Ratios and supplemental data: | |||||
Net assets at end of period (000's) | $457,750 | $496,574 | $347,021 | $445,608 | $485,413 |
Ratio to average net assets: | |||||
Net expenses | 1.09% | 1.12% | 1.17% | 1.17% | 1.19% |
Gross expenses | 1.09% | 1.12% | 1.18% | 1.17% | 1.22% |
Net investment income | 0.74% | 0.63% | 0.84% | 0.70% | 0.58% |
Portfolio turnover rate | 32% | 62% | 60% | 40% | 72%(C) |
Touchstone Global ESG Equity Fund—Class C | |||||
Selected Data for a Share Outstanding Throughout Each Period | |||||
Year Ended March 31, | |||||
2022 | 2021 | 2020 | 2019 | 2018 | |
Net asset value at beginning of period | $21.59 | $13.97 | $16.65 | $18.68 | $18.62 |
Income (loss) from investment operations: | |||||
Net investment loss | (0.03) | (0.04)(A) | —(A)(D) | (0.06) | (0.05) |
Net realized and unrealized gains (losses) on investments | (0.21) | 7.66 | (2.31) | (0.21) | 2.85 |
Total from investment operations | (0.24) | 7.62 | (2.31) | (0.27) | 2.80 |
Distributions from: | |||||
Net investment income | (0.03) | — | (0.03) | — | — |
Realized capital gains | (2.78) | — | (0.34) | (1.76) | (2.74) |
Total distributions | (2.81) | — | (0.37) | (1.76) | (2.74) |
Net asset value at end of period | $18.54 | $21.59 | $13.97 | $16.65 | $18.68 |
Total return(B) | (1.85%) | 54.55% | (14.34%) | (1.18%) | 14.75% |
Ratios and supplemental data: | |||||
Net assets at end of period (000's) | $5,565 | $7,782 | $8,099 | $14,926 | $37,513 |
Ratio to average net assets: | |||||
Net expenses | 1.99% | 1.99% | 1.99% | 1.99% | 1.99% |
Gross expenses | 2.10% | 2.14% | 2.14% | 2.03% | 2.05% |
Net investment income (loss) | (0.16%) | (0.24%) | 0.02% | (0.12%) | (0.23%) |
Portfolio turnover rate | 32% | 62% | 60% | 40% | 72%(C) |
(A) | The net investment income (loss) per share was based on average shares outstanding for the period. |
(B) | Total returns shown exclude the effect of applicable sales loads and fees. If these charges were included, the returns would be lower. |
(C) | Portfolio turnover excludes the purchases and sales of securities of the Sentinel Sustainable Core Opportunities Fund acquired on October 27, 2017. If these transactions were included, portfolio turnover would have been higher. |
(D) | Less than $0.005 per share. |
Touchstone Global ESG Equity Fund—Class Y | |||||
Selected Data for a Share Outstanding Throughout Each Period | |||||
Year Ended March 31, | |||||
2022 | 2021 | 2020 | 2019 | 2018 | |
Net asset value at beginning of period | $27.16 | $17.48 | $20.66 | $22.75 | $22.11 |
Income (loss) from investment operations: | |||||
Net investment income | 0.25 | 0.20(A) | 0.24(A) | 0.21 | 0.16 |
Net realized and unrealized gains (losses) on investments | (0.28) | 9.62 | (2.88) | (0.31) | 3.41 |
Total from investment operations | (0.03) | 9.82 | (2.64) | (0.10) | 3.57 |
Distributions from: | |||||
Net investment income | (0.28) | (0.14) | (0.20) | (0.23) | (0.19) |
Realized capital gains | (2.78) | — | (0.34) | (1.76) | (2.74) |
Total distributions | (3.06) | (0.14) | (0.54) | (1.99) | (2.93) |
Net asset value at end of period | $24.07 | $27.16 | $17.48 | $20.66 | $22.75 |
Total return | (0.74%) | 56.22% | (13.37%) | (0.09%) | 15.90% |
Ratios and supplemental data: | |||||
Net assets at end of period (000's) | $155,664 | $182,806 | $136,239 | $207,080 | $189,837 |
Ratio to average net assets: | |||||
Net expenses | 0.90% | 0.90% | 0.90% | 0.90% | 0.94% |
Gross expenses | 0.90% | 0.93% | 0.94% | 0.93% | 0.99% |
Net investment income | 0.93% | 0.85% | 1.11% | 0.97% | 0.82% |
Portfolio turnover rate | 32% | 62% | 60% | 40% | 72%(B) |
Touchstone Global ESG Equity Fund—Institutional Class | |||||
Selected Data for a Share Outstanding Throughout Each Period | |||||
Year Ended March 31, | |||||
2022 | 2021 | 2020 | 2019 | 2018 | |
Net asset value at beginning of period | $27.20 | $17.50 | $20.68 | $22.77 | $22.13 |
Income (loss) from investment operations: | |||||
Net investment income | 0.29 | 0.19(A) | 0.24(A) | 0.22 | 0.20 |
Net realized and unrealized gains (losses) on investments | (0.32) | 9.64 | (2.88) | (0.32) | 3.38 |
Total from investment operations | (0.03) | 9.83 | (2.64) | (0.10) | 3.58 |
Distributions from: | |||||
Net investment income | (0.28) | (0.13) | (0.20) | (0.23) | (0.20) |
Realized capital gains | (2.78) | — | (0.34) | (1.76) | (2.74) |
Total distributions | (3.06) | (0.13) | (0.54) | (1.99) | (2.94) |
Net asset value at end of period | $24.11 | $27.20 | $17.50 | $20.68 | $22.77 |
Total return | (0.74%) | 56.21% | (13.35%) | (0.10%) | 15.95% |
Ratios and supplemental data: | |||||
Net assets at end of period (000's) | $9,747 | $13,271 | $21,739 | $44,382 | $42,196 |
Ratio to average net assets: | |||||
Net expenses | 0.89% | 0.89% | 0.89% | 0.89% | 0.89% |
Gross expenses | 0.94% | 0.97% | 0.95% | 0.93% | 1.01% |
Net investment income | 0.94% | 0.86% | 1.12% | 0.98% | 0.87% |
Portfolio turnover rate | 32% | 62% | 60% | 40% | 72%(B) |
(A) | The net investment income (loss) per share was based on average shares outstanding for the period. |
(B) | Portfolio turnover excludes the purchases and sales of securities of the Sentinel Sustainable Core Opportunities Fund acquired on October 27, 2017. If these transactions were included, portfolio turnover would have been higher. |
Touchstone Growth Opportunities Fund—Class A | |||||
Selected Data for a Share Outstanding Throughout Each Period | |||||
Year Ended March 31, | |||||
2022 | 2021 | 2020 | 2019 | 2018 | |
Net asset value at beginning of period | $41.07 | $27.94 | $32.71 | $32.79 | $30.20 |
Income (loss) from investment operations: | |||||
Net investment loss | (0.21)(A) | (0.20) | (0.04) | (0.05) | (0.11) |
Net realized and unrealized gains on investments | 4.97 | 17.44 | 0.99 | 3.10 | 5.89 |
Total from investment operations | 4.76 | 17.24 | 0.95 | 3.05 | 5.78 |
Distributions from: | |||||
Realized capital gains | (7.19) | (4.11) | (5.72) | (3.13) | (3.19) |
Net asset value at end of period | $38.64 | $41.07 | $27.94 | $32.71 | $32.79 |
Total return(B) | 10.48% | 62.56% | 0.63% | 10.40% | 19.51% |
Ratios and supplemental data: | |||||
Net assets at end of period (000's) | $61,006 | $56,877 | $37,150 | $42,404 | $39,901 |
Ratio to average net assets: | |||||
Net expenses (including liquidity provider expenses) | 1.25%(C) | 1.24% | 1.25%(C) | 1.24% | 1.24% |
Gross expenses (including liquidity provider expenses) | 1.31%(D) | 1.34% | 1.41%(D) | 1.37% | 1.38% |
Net investment loss | (0.48%) | (0.55%) | (0.12%) | (0.17%) | (0.32%) |
Portfolio turnover rate | 47%(E) | 65% | 101%(E) | 94%(E) | 86% |
Touchstone Growth Opportunities Fund—Class C | |||||
Selected Data for a Share Outstanding Throughout Each Period | |||||
Year Ended March 31, | |||||
2022 | 2021 | 2020 | 2019 | 2018 | |
Net asset value at beginning of period | $29.84 | $21.19 | $26.18 | $27.08 | $25.60 |
Income (loss) from investment operations: | |||||
Net investment loss | (0.38)(A) | (0.77) | (0.23) | (0.49) | (0.29) |
Net realized and unrealized gains on investments | 3.73 | 13.53 | 0.96 | 2.72 | 4.96 |
Total from investment operations | 3.35 | 12.76 | 0.73 | 2.23 | 4.67 |
Distributions from: | |||||
Realized capital gains | (7.19) | (4.11) | (5.72) | (3.13) | (3.19) |
Net asset value at end of period | $26.00 | $29.84 | $21.19 | $26.18 | $27.08 |
Total return(B) | 9.64% | 61.29% | (0.09%) | 9.54% | 18.65% |
Ratios and supplemental data: | |||||
Net assets at end of period (000's) | $1,769 | $1,853 | $2,724 | $3,863 | $8,680 |
Ratio to average net assets: | |||||
Net expenses (including liquidity provider expenses) | 2.00%(C) | 1.99% | 2.00%(C) | 1.99% | 1.99% |
Gross expenses (including liquidity provider expenses) | 2.64%(D) | 2.70% | 2.61%(D) | 2.32% | 2.29% |
Net investment loss | (1.23%) | (1.30%) | (0.87%) | (0.92%) | (1.07%) |
Portfolio turnover rate | 47%(E) | 65% | 101%(E) | 94%(E) | 86% |
(A) | The net investment income (loss) per share was based on average shares outstanding for the period. |
(B) | Total returns shown exclude the effect of applicable sales loads and fees. If these charges were included, the returns would be lower. |
(C) | The ratio of net expenses to average net assets excluding liquidity provider expenses for Class A was 1.24% and 1.24% and for Class C was 1.99% and 1.99% for the years ended March 31, 2022 and 2020, respectively. |
(D) | The ratio of gross expenses to average net assets excluding liquidity provider expenses for Class A was 1.30% and 1.40% and for Class C was 2.63% and 2.60% for the years ended March 31, 2022 and 2020, respectively. |
(E) | Portfolio turnover excludes securities delivered from processing redemptions-in-kind. |
Touchstone Growth Opportunities Fund—Class Y | |||||
Selected Data for a Share Outstanding Throughout Each Period | |||||
Year Ended March 31, | |||||
2022 | 2021 | 2020 | 2019 | 2018 | |
Net asset value at beginning of period | $43.08 | $29.11 | $33.78 | $33.69 | $30.87 |
Income (loss) from investment operations: | |||||
Net investment income (loss) | (0.11)(A) | (0.12) | 0.04 | 0.03 | (0.02) |
Net realized and unrealized gains on investments | 5.19 | 18.20 | 1.01 | 3.19 | 6.03 |
Total from investment operations | 5.08 | 18.08 | 1.05 | 3.22 | 6.01 |
Distributions from: | |||||
Realized capital gains | (7.19) | (4.11) | (5.72) | (3.13) | (3.19) |
Net asset value at end of period | $40.97 | $43.08 | $29.11 | $33.78 | $33.69 |
Total return | 10.75% | 62.93% | 0.92% | 10.67% | 19.80% |
Ratios and supplemental data: | |||||
Net assets at end of period (000's) | $25,851 | $30,742 | $26,610 | $43,703 | $47,554 |
Ratio to average net assets: | |||||
Net expenses (including liquidity provider expenses) | 1.00%(B) | 0.99% | 1.00%(B) | 0.99% | 0.99% |
Gross expenses (including liquidity provider expenses) | 1.10%(C) | 1.13% | 1.14%(C) | 1.08% | 1.07% |
Net investment income (loss) | (0.23%) | (0.30%) | 0.13% | 0.08% | (0.07%) |
Portfolio turnover rate | 47%(D) | 65% | 101%(D) | 94%(D) | 86% |
Touchstone Growth Opportunities Fund—Institutional Class | |||||
Selected Data for a Share Outstanding Throughout Each Period | |||||
Year Ended March 31, | |||||
2022 | 2021 | 2020 | 2019 | 2018 | |
Net asset value at beginning of period | $43.90 | $29.58 | $34.22 | $34.08 | $31.16 |
Income (loss) from investment operations: | |||||
Net investment income (loss) | (0.06)(A) | (0.06) | 0.06 | 0.09 | 0.01 |
Net realized and unrealized gains on investments | 5.27 | 18.49 | 1.02 | 3.21 | 6.10 |
Total from investment operations | 5.21 | 18.43 | 1.08 | 3.30 | 6.11 |
Distributions from: | |||||
Net investment income | — | — | — | (0.03) | — |
Realized capital gains | (7.19) | (4.11) | (5.72) | (3.13) | (3.19) |
Total distributions | (7.19) | (4.11) | (5.72) | (3.16) | (3.19) |
Net asset value at end of period | $41.92 | $43.90 | $29.58 | $34.22 | $34.08 |
Total return | 10.84% | 63.13% | 1.00% | 10.79% | 19.94% |
Ratios and supplemental data: | |||||
Net assets at end of period (000's) | $73,624 | $71,461 | $96,361 | $71,406 | $185,831 |
Ratio to average net assets: | |||||
Net expenses (including liquidity provider expenses) | 0.90%(B) | 0.89% | 0.90%(B) | 0.89% | 0.89% |
Gross expenses (including liquidity provider expenses) | 1.02%(C) | 1.03% | 1.05%(C) | 1.01% | 1.01% |
Net investment income (loss) | (0.13%) | (0.20%) | 0.23% | 0.18% | 0.03% |
Portfolio turnover rate | 47%(D) | 65% | 101%(D) | 94%(D) | 86% |
(A) | The net investment income (loss) per share was based on average shares outstanding for the period. |
(B) | The ratio of net expenses to average net assets excluding liquidity provider expenses for Class Y was 0.99% and 0.99% and for Institutional Class was 0.89% and 0.89% for the years ended March 31, 2022 and 2020, respectively. |
(C) | The ratio of gross expenses to average net assets excluding liquidity provider expenses for Class Y was 1.09% and 1.13% and for Institutional Class was 1.01% and 1.04% for the years ended March 31, 2022 and 2020, respectively. |
(D) | Portfolio turnover excludes securities delivered from processing redemptions-in-kind. |
Touchstone Mid Cap Growth Fund—Class A | |||||
Selected Data for a Share Outstanding Throughout Each Period | |||||
Year Ended March 31, | |||||
2022 | 2021 | 2020 | 2019 | 2018 | |
Net asset value at beginning of period | $37.71 | $24.89 | $29.26 | $28.05 | $25.91 |
Income (loss) from investment operations: | |||||
Net investment loss | (0.26)(A) | (0.28) | (0.07) | (0.09) | (0.08)(A) |
Net realized and unrealized gains (losses) on investments | 3.44 | 15.64 | (2.06) | 3.36 | 4.95 |
Total from investment operations | 3.18 | 15.36 | (2.13) | 3.27 | 4.87 |
Distributions from: | |||||
Net investment income | — | — | (0.01) | — | — |
Realized capital gains | (6.37) | (2.54) | (2.23) | (2.06) | (2.73) |
Total distributions | (6.37) | (2.54) | (2.24) | (2.06) | (2.73) |
Net asset value at end of period | $34.52 | $37.71 | $24.89 | $29.26 | $28.05 |
Total return(B) | 7.43% | 61.98% | (8.78%) | 12.77% | 19.28% |
Ratios and supplemental data: | |||||
Net assets at end of period (000's) | $299,763 | $322,432 | $234,307 | $262,492 | $218,727 |
Ratio to average net assets: | |||||
Net expenses (including liquidity provider expenses) | 1.21%(C) | 1.23%(C) | 1.25% | 1.27% | 1.29% |
Gross expenses (including liquidity provider expenses) | 1.21%(D) | 1.23%(D) | 1.25% | 1.27% | 1.29% |
Net investment loss | (0.65%) | (0.75%) | (0.24%) | (0.35%) | (0.29%) |
Portfolio turnover rate | 60%(E) | 65%(E) | 82% | 71% | 76% |
Touchstone Mid Cap Growth Fund—Class C | |||||
Selected Data for a Share Outstanding Throughout Each Period | |||||
Year Ended March 31, | |||||
2022 | 2021 | 2020 | 2019 | 2018 | |
Net asset value at beginning of period | $20.79 | $14.56 | $18.08 | $18.27 | $17.84 |
Income (loss) from investment operations: | |||||
Net investment loss | (0.30)(A) | (0.78) | (0.32) | (0.49) | (0.20)(A) |
Net realized and unrealized gains (losses) on investments | 2.05 | 9.55 | (0.97) | 2.36 | 3.36 |
Total from investment operations | 1.75 | 8.77 | (1.29) | 1.87 | 3.16 |
Distributions from: | |||||
Realized capital gains | (6.37) | (2.54) | (2.23) | (2.06) | (2.73) |
Net asset value at end of period | $16.17 | $20.79 | $14.56 | $18.08 | $18.27 |
Total return(B) | 6.53% | 60.65% | (9.55%) | 11.91% | 18.38% |
Ratios and supplemental data: | |||||
Net assets at end of period (000's) | $17,918 | $18,939 | $20,918 | $32,831 | $90,502 |
Ratio to average net assets: | |||||
Net expenses (including liquidity provider expenses) | 2.04%(C) | 2.07%(C) | 2.07% | 2.04% | 2.04% |
Gross expenses (including liquidity provider expenses) | 2.04%(D) | 2.07%(D) | 2.07% | 2.04% | 2.04% |
Net investment loss | (1.48%) | (1.59%) | (1.06%) | (1.12%) | (1.04%) |
Portfolio turnover rate | 60%(E) | 65%(E) | 82% | 71% | 76% |
(A) | The net investment loss per share was based on average shares outstanding for the period. |
(B) | Total returns shown exclude the effect of applicable sales loads and fees. If these charges were included, the returns would be lower. |
(C) | The ratio of net expenses to average net assets excluding liquidity provider expenses for Class A were 1.19% and 1.22% and for Class C were 2.02% and 2.06% for the years ended March 31, 2022 and 2021. |
(D) | The ratio of gross expenses to average net assets excluding liquidity provider expenses for Class A were 1.19% and 1.22% and for Class C were 2.02% and 2.06% for the years ended March 31, 2022 and 2021. |
(E) | Portfolio turnover excludes securities delivered from processing redemptions-in-kind. |
Touchstone Mid Cap Growth Fund—Class Y | |||||
Selected Data for a Share Outstanding Throughout Each Period | |||||
Year Ended March 31, | |||||
2022 | 2021 | 2020 | 2019 | 2018 | |
Net asset value at beginning of period | $39.68 | $26.04 | $30.50 | $29.07 | $26.70 |
Income (loss) from investment operations: | |||||
Net investment loss | (0.18)(A) | (0.18) | (—)(B) | (0.03) | (0.01)(A) |
Net realized and unrealized gains (losses) on investments | 3.59 | 16.36 | (2.17) | 3.52 | 5.11 |
Total from investment operations | 3.41 | 16.18 | (2.17) | 3.49 | 5.10 |
Distributions from: | |||||
Net investment income | — | — | (0.06) | — | — |
Realized capital gains | (6.37) | (2.54) | (2.23) | (2.06) | (2.73) |
Total distributions | (6.37) | (2.54) | (2.29) | (2.06) | (2.73) |
Net asset value at end of period | $36.72 | $39.68 | $26.04 | $30.50 | $29.07 |
Total return | 7.65% | 62.40% | (8.58%) | 13.05% | 19.62% |
Ratios and supplemental data: | |||||
Net assets at end of period (000's) | $657,182 | $641,218 | $424,403 | $452,407 | $375,617 |
Ratio to average net assets: | |||||
Net expenses (including liquidity provider expenses) | 0.99%(C) | 0.99%(C) | 1.01% | 1.02% | 1.02% |
Gross expenses (including liquidity provider expenses) | 0.99%(D) | 0.99%(D) | 1.01% | 1.02% | 1.02% |
Net investment loss | (0.43%) | (0.52%) | (—%)(B) | (0.10%) | (0.02%) |
Portfolio turnover rate | 60%(E) | 65%(E) | 82% | 71% | 76% |
Touchstone Mid Cap Growth Fund—Institutional Class | |||||
Selected Data for a Share Outstanding Throughout Each Period | |||||
Year Ended March 31, | |||||
2022 | 2021 | 2020 | 2019 | 2018 | |
Net asset value at beginning of period | $40.16 | $26.32 | $30.79 | $29.32 | $26.90 |
Income (loss) from investment operations: | |||||
Net investment income (loss) | (0.14)(A) | (0.20) | 0.01 | (0.01) | (—)(A)(B) |
Net realized and unrealized gains (losses) on investments | 3.64 | 16.58 | (2.18) | 3.54 | 5.15 |
Total from investment operations | 3.50 | 16.38 | (2.17) | 3.53 | 5.15 |
Distributions from: | |||||
Net investment income | — | — | (0.07) | — | — |
Realized capital gains | (6.37) | (2.54) | (2.23) | (2.06) | (2.73) |
Total distributions | (6.37) | (2.54) | (2.30) | (2.06) | (2.73) |
Net asset value at end of period | $37.29 | $40.16 | $26.32 | $30.79 | $29.32 |
Total return | 7.79% | 62.50% | (8.49%) | 13.10% | 19.62% |
Ratios and supplemental data: | |||||
Net assets at end of period (000's) | $229,028 | $381,463 | $357,769 | $349,865 | $95,176 |
Ratio to average net assets: | |||||
Net expenses (including liquidity provider expenses) | 0.88%(C) | 0.91%(C) | 0.94% | 0.97%(F) | 0.99% |
Gross expenses (including liquidity provider expenses) | 0.91%(D) | 0.92%(D) | 0.94% | 0.97% | 0.99% |
Net investment income (loss) | (0.32%) | (0.44%) | 0.06% | (0.06%) | 0.01% |
Portfolio turnover rate | 60%(E) | 65%(E) | 82% | 71% | 76% |
(A) | The net investment income (loss) per share was based on average shares outstanding for the period. |
(B) | Less than $0.005 per share or 0.005%. |
(C) | The ratio of net expenses to average net assets excluding liquidity provider expenses for Class Y were 0.97% and 0.98% and for Institutional Class were 0.86% and 0.90% for the years ended March 31, 2022 and 2021. |
(D) | The ratio of gross expenses to average net assets excluding liquidity provider expenses for Class Y were 0.97% and 0.98% and for Institutional Class were 0.89% and 0.91% for the years ended March 31, 2022 and 2021. |
(E) | Portfolio turnover excludes securities delivered from processing redemptions-in-kind. |
(F) | Net expenses include amounts recouped by the Advisor. |
Touchstone Mid Cap Growth Fund—Class R6 | |||
Selected Data for a Share Outstanding Throughout Each Period | |||
Year Ended March 31, | Period Ended March 31, 2020(A) | ||
2022 | 2021 | ||
Net asset value at beginning of period | $40.18 | $26.32 | $35.72(B) |
Income (loss) from investment operations: | |||
Net investment loss | (0.09)(C) | (0.11) | (—)(D) |
Net realized and unrealized gains (losses) on investments | 3.63 | 16.51 | (9.40) |
Total from investment operations | 3.54 | 16.40 | (9.40) |
Distributions from: | |||
Realized capital gains | (6.37) | (2.54) | — |
Net asset value at end of period | $37.35 | $40.18 | $26.32 |
Total return | 7.89% | 62.58% | (26.32%)(E) |
Ratios and supplemental data: | |||
Net assets at end of period (000's) | $111,561 | $4,603 | $2 |
Ratio to average net assets: | |||
Net expenses (including liquidity provider expenses) | 0.79%(F) | 0.85%(F) | 0.89%(G) |
Gross expenses (including liquidity provider expenses) | 0.88%(H) | 1.47%(H) | 1,279.20%(G) |
Net investment loss | (0.23%) | (0.37%) | (0.02%)(G) |
Portfolio turnover rate | 60%(I) | 65%(I) | 82% |
(A) | Represents the period from commencement of operations (February 10, 2020) through March 31, 2020. |
(B) | Net asset value at the beginning of period is based on the net asset value of Institutional Class shares on February 10, 2020. |
(C) | The net investment loss per share was based on average shares outstanding for the period. |
(D) | Less than $0.005 per share. |
(E) | Not annualized. |
(F) | The ratio of net expenses to average net assets excluding liquidity provider expenses for Class R6 were 0.77% and 0.84% for the years ended March 31, 2022 and 2021. |
(G) | Annualized. |
(H) | The ratio of gross expenses to average net assets excluding liquidity provider expenses for Class R6 were 0.86% and 1.46% for the years ended March 31, 2022 and 2021. |
(I) | Portfolio turnover excludes securities delivered from processing redemptions-in-kind. |
Touchstone Sands Capital Emerging Markets Growth Fund—Class A | ||||
Selected Data for a Share Outstanding Throughout Each Period | ||||
Year Ended March 31, | Period Ended March 31, 2019(A) | |||
2022 | 2021 | 2020 | ||
Net asset value at beginning of period | $21.25 | $11.36 | $13.15 | $11.21(B) |
Income (loss) from investment operations: | ||||
Net investment income (loss) | (0.21) | (0.13) | 0.05(C) | (0.01) |
Net realized and unrealized gains (losses) on investments | (5.07) | 10.02 | (1.77) | 1.95 |
Total from investment operations | (5.28) | 9.89 | (1.72) | 1.94 |
Distributions from: | ||||
Net investment income | (0.32) | — | (0.07) | — |
Net asset value at end of period | $15.65 | $21.25 | $11.36 | $13.15 |
Total return(D) | (25.16%) | 87.06% | (13.19%) | 17.31%(E) |
Ratios and supplemental data: | ||||
Net assets at end of period (000's) | $19,694 | $20,369 | $2,897 | $1,349 |
Ratio to average net assets: | ||||
Net expenses | 1.60% | 1.60% | 1.60% | 1.60%(F) |
Gross expenses | 1.60% | 1.77% | 2.62% | 4.89%(F) |
Net investment income (loss) | (1.03%) | (1.22%) | 0.35% | (0.94%)(F) |
Portfolio turnover rate | 28%(G) | 27% | 20% | 31% |
Touchstone Sands Capital Emerging Markets Growth Fund—Class C | ||||
Selected Data for a Share Outstanding Throughout Each Period | ||||
Year Ended March 31, | Period Ended March 31, 2019(A) | |||
2022 | 2021 | 2020 | ||
Net asset value at beginning of period | $20.91 | $11.26 | $13.11 | $11.21(B) |
Income (loss) from investment operations: | ||||
Net investment loss | (0.35) | (0.14) | (0.05)(C) | (0.04) |
Net realized and unrealized gains (losses) on investments | (4.99) | 9.79 | (1.75) | 1.94 |
Total from investment operations | (5.34) | 9.65 | (1.80) | 1.90 |
Distributions from: | ||||
Net investment income | (0.20) | — | (0.05) | — |
Net asset value at end of period | $15.37 | $20.91 | $11.26 | $13.11 |
Total return(D) | (25.69%) | 85.70% | (13.81%) | 16.95%(E) |
Ratios and supplemental data: | ||||
Net assets at end of period (000's) | $9,107 | $9,637 | $1,135 | $59 |
Ratio to average net assets: | ||||
Net expenses | 2.35% | 2.35% | 2.35% | 2.35%(F) |
Gross expenses | 2.46% | 2.82% | 5.24% | 57.88%(F) |
Net investment loss | (1.78%) | (1.97%) | (0.40%) | (1.69%)(F) |
Portfolio turnover rate | 28%(G) | 27% | 20% | 31% |
(A) | Represents the period from commencement of operations (November 16, 2018) through March 31, 2019. |
(B) | Net asset value at the beginning of period is based on the net asset value of Class Y shares on November 16, 2018. |
(C) | The net investment income (loss) per share was based on average shares outstanding for the period. |
(D) | Total returns shown exclude the effect of applicable sales loads and fees. If these charges were included, the returns would be lower. |
(E) | Not annualized. |
(F) | Annualized. |
(G) | Portfolio turnover excludes securities delivered from processing redemptions-in-kind. |
Touchstone Sands Capital Emerging Markets Growth Fund—Class Y | |||||
Selected Data for a Share Outstanding Throughout Each Period | |||||
Year Ended March 31, | |||||
2022 | 2021 | 2020 | 2019 | 2018 | |
Net asset value at beginning of period | $21.36 | $11.38 | $13.16 | $13.56 | $10.70 |
Income (loss) from investment operations: | |||||
Net investment income (loss) | (0.17) | (0.11) | 0.08(A) | (0.03) | (0.06) |
Net realized and unrealized gains (losses) on investments | (5.08) | 10.09 | (1.77) | (0.37) | 2.92 |
Total from investment operations | (5.25) | 9.98 | (1.69) | (0.40) | 2.86 |
Distributions from: | |||||
Net investment income | (0.37) | — | (0.09) | — | — |
Net asset value at end of period | $15.74 | $21.36 | $11.38 | $13.16 | $13.56 |
Total return | (24.89%) | 87.71% | (12.96%) | (3.02%) | 26.82% |
Ratios and supplemental data: | |||||
Net assets at end of period (000's) | $1,186,957 | $1,460,473 | $423,992 | $318,093 | $207,209 |
Ratio to average net assets: | |||||
Net expenses | 1.29% | 1.26% | 1.33%(B) | 1.35%(B) | 1.47% |
Gross expenses | 1.29% | 1.26% | 1.31% | 1.35% | 1.49% |
Net investment income (loss) | (0.71%) | (0.88%) | 0.62% | (0.45%) | (0.73%) |
Portfolio turnover rate | 28%(C) | 27% | 20% | 31% | 27% |
Touchstone Sands Capital Emerging Markets Growth Fund—Institutional Class | |||||
Selected Data for a Share Outstanding Throughout Each Period | |||||
Year Ended March 31, | |||||
2022 | 2021 | 2020 | 2019 | 2018 | |
Net asset value at beginning of period | $21.47 | $11.43 | $13.21 | $13.61 | $10.73 |
Income (loss) from investment operations: | |||||
Net investment income (loss) | (0.29) | (0.11) | 0.09(A) | (0.03) | (0.06) |
Net realized and unrealized gains (losses) on investments | (4.97) | 10.15 | (1.77) | (0.37) | 2.94 |
Total from investment operations | (5.26) | 10.04 | (1.68) | (0.40) | 2.88 |
Distributions from: | |||||
Net investment income | (0.38) | — | (0.10) | — | — |
Net asset value at end of period | $15.83 | $21.47 | $11.43 | $13.21 | $13.61 |
Total return | (24.81%) | 87.79% | (12.87%) | (2.94%) | 26.84% |
Ratios and supplemental data: | |||||
Net assets at end of period (000's) | $1,252,461 | $2,867,373 | $883,508 | $524,670 | $374,452 |
Ratio to average net assets: | |||||
Net expenses | 1.20% | 1.21%(B) | 1.25%(B) | 1.25% | 1.37% |
Gross expenses | 1.20% | 1.20% | 1.24% | 1.27% | 1.41% |
Net investment income (loss) | (0.62%) | (0.83%) | 0.70% | (0.35%) | (0.63%) |
Portfolio turnover rate | 28%(C) | 27% | 20% | 31% | 27% |
(A) | The net investment income (loss) per share was based on average shares outstanding for the period. |
(B) | Net expenses include amounts recouped by the Advisor. |
(C) | Portfolio turnover excludes securities delivered from processing redemptions-in-kind. |
Touchstone Sands Capital Emerging Markets Growth Fund—Class R6 | |
Selected Data for a Share Outstanding Throughout The Period | |
Period Ended March 31, 2022(A) | |
Net asset value at beginning of period | $22.37 |
Income (loss) from investment operations: | |
Net investment income | 0.15 |
Net realized and unrealized losses on investments | (6.31) |
Total from investment operations | (6.16) |
Distributions from: | |
Net investment income | (0.38) |
Net asset value at end of period | $15.83 |
Total return | (27.85%)(B) |
Ratios and supplemental data: | |
Net assets at end of period (000's) | $1,109,805 |
Ratio to average net assets: | |
Net expenses | 1.17%(C) |
Gross expenses | 1.17%(C) |
Net investment loss | (0.59%)(C) |
Portfolio turnover rate | 28%(D) |
(A) | Represents the period from commencement of operations (April 26, 2021) through March 31, 2022. |
(B) | Not annualized. |
(C) | Annualized. |
(D) | Portfolio turnover excludes securities delivered from processing redemptions-in-kind. |
Touchstone Strategic Income Opportunities Fund—Class A | |||||
Selected Data for a Share Outstanding Throughout Each Period | |||||
Year Ended March 31, | |||||
2022 | 2021 | 2020 | 2019 | 2018 | |
Net asset value at beginning of period | $3.47 | $3.15 | $3.31 | $3.38 | $3.40 |
Income (loss) from investment operations: | |||||
Net investment income(A) | 0.08 | 0.10 | 0.11 | 0.13 | 0.11 |
Net realized and unrealized gains (losses) on investments | (0.19) | 0.33 | (0.15) | (0.04) | (0.03) |
Total from investment operations | (0.11) | 0.43 | (0.04) | 0.09 | 0.08 |
Distributions from: | |||||
Net investment income | (0.09) | (0.11) | (0.12) | (0.16) | (0.10) |
Net asset value at end of period | $3.27 | $3.47 | $3.15 | $3.31 | $3.38 |
Total return(B) | (3.22%) | 13.87% | (1.37%) | 2.86% | 2.41% |
Ratios and supplemental data: | |||||
Net assets at end of period (000's) | $177,574 | $173,600 | $143,815 | $153,979 | $196,712 |
Ratio to average net assets: | |||||
Net expenses | 1.03% | 1.10% | 1.10% | 1.14% | 1.33% |
Gross expenses | 1.14% | 1.37% | 1.37% | 1.37% | 1.33% |
Net investment income | 2.38% | 2.91% | 3.14% | 3.89% | 3.15% |
Portfolio turnover rate | 155%(C) | 111% | 85% | 123% | 149% |
Touchstone Strategic Income Opportunities Fund—Class C | |||||
Selected Data for a Share Outstanding Throughout Each Period | |||||
Year Ended March 31, | |||||
2022 | 2021 | 2020 | 2019 | 2018 | |
Net asset value at beginning of period | $3.48 | $3.16 | $3.32 | $3.39 | $3.41 |
Income (loss) from investment operations: | |||||
Net investment income(A) | 0.06 | 0.08 | 0.08 | 0.11 | 0.09 |
Net realized and unrealized gains (losses) on investments | (0.20) | 0.33 | (0.14) | (0.04) | (0.03) |
Total from investment operations | (0.14) | 0.41 | (0.06) | 0.07 | 0.06 |
Distributions from: | |||||
Net investment income | (0.06) | (0.09) | (0.10) | (0.14) | (0.08) |
Net asset value at end of period | $3.28 | $3.48 | $3.16 | $3.32 | $3.39 |
Total return(B) | (4.03%) | 13.11% | (2.04%) | 2.18% | 1.75% |
Ratios and supplemental data: | |||||
Net assets at end of period (000's) | $42,046 | $39,402 | $49,730 | $52,782 | $71,103 |
Ratio to average net assets: | |||||
Net expenses | 1.74% | 1.78% | 1.78% | 1.81% | 1.98% |
Gross expenses | 1.88% | 2.05% | 2.05% | 2.04% | 1.98% |
Net investment income | 1.62% | 2.26% | 2.47% | 3.22% | 2.50% |
Portfolio turnover rate | 155%(C) | 111% | 85% | 123% | 149% |
(A) | The net investment income (loss) per share was based on average shares outstanding for the period. |
(B) | Total returns shown exclude the effect of applicable sales loads and fees. If these charges were included, the returns would be lower. |
(C) | Portfolio turnover excludes the purchases and sales of securities of the AIG Flexible Credit Fund acquired on July 16, 2021 (See Note 9 in the Notes to Financial Statements). If these transactions were included, portfolio turnover would have been higher. |
Touchstone Strategic Income Opportunities Fund—Class Y | |||||
Selected Data for a Share Outstanding Throughout Each Period | |||||
Year Ended March 31, | |||||
2022(A) | 2021 | 2020 | 2019 | 2018 | |
Net asset value at beginning of period | $3.46 | $3.15 | $3.31 | $3.37 | $3.39 |
Income (loss) from investment operations: | |||||
Net investment income(B) | 0.09 | 0.10 | 0.11 | 0.14 | 0.11 |
Net realized and unrealized gains (losses) on investments | (0.19) | 0.33 | (0.14) | (0.03) | (0.02) |
Total from investment operations | (0.10) | 0.43 | (0.03) | 0.11 | 0.09 |
Distributions from: | |||||
Net investment income | (0.10) | (0.12) | (0.13) | (0.17) | (0.11) |
Net asset value at end of period | $3.26 | $3.46 | $3.15 | $3.31 | $3.37 |
Total return | (2.97%) | 13.77% | (1.16%) | 3.38% | 2.65% |
Ratios and supplemental data: | |||||
Net assets at end of period (000's) | $106,650 | $140,047 | $89,806 | $52,676 | $70,239 |
Ratio to average net assets: | |||||
Net expenses | 0.79% | 0.90% | 0.91% | 0.94% | 1.14% |
Gross expenses | 0.91% | 1.17% | 1.18% | 1.17% | 1.14% |
Net investment income | 2.62% | 3.08% | 3.28% | 4.06% | 3.34% |
Portfolio turnover rate | 155%(C) | 111% | 85% | 123% | 149% |
Touchstone Strategic Income Opportunities Fund—Institutional Class | |
Selected Data for a Share Outstanding Throughout The Period | |
Period Ended March 31, 2022(D) | |
Net asset value at beginning of period | $3.50 |
Income (loss) from investment operations: | |
Net investment income(B) | 0.06 |
Net realized and unrealized gains (losses) on investments | (0.23) |
Total from investment operations | (0.17) |
Distributions from: | |
Net investment income | (0.07) |
Net asset value at end of period | $3.26 |
Total return | (4.94%)(E) |
Ratios and supplemental data: | |
Net assets at end of period (000's) | $263 |
Ratio to average net assets: | |
Net expenses | 0.65%(F) |
Gross expenses | 3.91%(F) |
Net investment income | 2.56%(F) |
Portfolio turnover rate | 155%(C) |
(A) | Effective July 16, 2021, Class W shares of the AIG Strategic Bond Fund were reorganized into Class Y shares of the Fund. |
(B) | The net investment income (loss) per share was based on average shares outstanding for the period. |
(C) | Portfolio turnover excludes the purchases and sales of securities of the AIG Flexible Credit Fund acquired on July 16, 2021 (See Note 9 in the Notes to Financial Statements). If these transactions were included, portfolio turnover would have been higher. |
(D) | Represents the period from commencement of operations (July 19, 2021) through March 31, 2022. |
(E) | Not annualized. |
(F) | Annualized. |
Touchstone Flexible Income Fund ("Flexible Income Fund”) |
Touchstone Focused Fund ("Focused Fund”) |
Touchstone Global ESG Equity Fund ("Global ESG Equity Fund”) |
Touchstone Growth Opportunities Fund ("Growth Opportunities Fund”) |
Touchstone Mid Cap Growth Fund ("Mid Cap Growth Fund”) |
Touchstone Sands Capital Emerging Markets Growth Fund ("Sands Capital Emerging Markets Growth Fund”) |
Touchstone Strategic Income Opportunities Fund ("Strategic Income Opportunities Fund”) |
Class A | Class C | Class Y | Institutional Class | Class R6 | |
Flexible Income Fund | X | X | X | X | |
Focused Fund | X | X | X | X | |
Global ESG Equity Fund | X | X | X | X | |
Growth Opportunities Fund | X | X | X | X | |
Mid Cap Growth Fund | X | X | X | X | X |
Sands Capital Emerging Markets Growth Fund | X | X | X | X | X |
Strategic Income Opportunities Fund | X | X | X | X |
(1) | market value of investment securities, assets and liabilities at the current rate of exchange on the valuation date; and |
(2) | purchases and sales of investment securities, income, and expenses at the relevant rates of exchange prevailing on the respective dates of such transactions. |
Fund | Derivatives not accounted for as hedging instruments under ASC 815 | Realized Gains (Losses) on Derivatives | Change in Unrealized Appreciation (Depreciation) on Derivatives |
Flexible Income Fund | Purchased Options - Equity Contracts* | $(6,340,614) | $— |
Written Options - Equity Contracts** | 520,097 | — | |
Swap Agreements - Credit Contracts*** | 1,989 | — | |
Strategic Income Opportunities Fund | Futures - Interest Rate Contracts**** | 101,305 | (207,661) |
Forwards - Foreign Currency Exchange Contracts***** | 289,517 | (564,784) |
* | Statements of Operations Location: Net realized gains (losses) on investments. |
** | Statements of Operations Location: Net realized gains on written options. |
*** | Statements of Operations Location: Net realized gains on swap agreements. |
**** | Statements of Operations Location: Net realized gains on futures contracts and net change in unrealized appreciation (depreciation) on futures contracts, respectively. |
***** | Statements of Operations Location: Net realized gains on forward foreign currency contracts and net change in unrealized appreciation (depreciation) on forward foreign currency contracts, respectively. |
Flexible Income Fund | Strategic Income Opportunities Fund | |
Equity Contracts: | ||
Purchased Options - Cost* | $— | $— |
Written Options - Premiums received* | — | — |
Credit Contracts: | ||
Credit Default Swaps - Notional value* | — | — |
Forward currency exchange contracts: | ||
U.S. dollar amount delivered | — | 3,863,566 |
U.S. dollar amount received | — | 6,059,815 |
Interest Rate Contracts: | ||
Futures Contracts - Notional Value | — | 16,900,190 |
* | The balance at each quarter end was zero. |
Fund | Security Type | Market Value of Securities Loaned* | Market Value of Collateral Received** | Net Amount*** |
Flexible Income Fund | Preferred Stocks and Investment Funds | $348,419 | $354,825 | $6,406 |
Global ESG Equity Fund | Common Stocks | 18,547,086 | 21,634,913 | 3,087,827 |
Sands Capital Emerging Markets Growth Fund | Common Stocks | 75,956,336 | 81,188,062 | 5,231,726 |
* | The remaining contractual maturity is overnight for all securities. |
** | Gross amount of recognized liabilities for securities lending included in the Statements of Assets and Liabilities. |
*** | Net amount represents the net amount payable due to the borrower in the event of default. |
Fund | Days Outstanding | Interest Charge | Average Debt Utilized | Weighted Average Interest |
Strategic Income Opportunities Fund | 2 | $22 | $275,000 | 1.46% |
Flexible Income Fund | Focused Fund* | Global ESG Equity Fund | Growth Opportunities Fund* | Mid Cap Growth Fund* | Sands Capital Emerging Markets Growth Fund* | Strategic Income Opportunities Fund | |
Purchases of investment securities | $305,172,645 | $163,796,905 | $218,747,825 | $80,663,822 | $833,735,608 | $1,700,351,861 | $427,484,236 |
Proceeds from sales and maturities | $335,615,579 | $182,385,469 | $285,268,367 | $87,921,197 | $846,693,464 | $1,255,845,795 | $608,274,800 |
* | Focused Fund, Growth Opportunities Fund, Mid Cap Growth Fund and Sands Capital Emerging Markets Growth Fund had a redemption-in-kind out of the Fund of $57,700,533, $12,728,779, $169,610,090 and $50,688,037, respectively. The redemptions were comprised of securities of $49,584,624, $10,433,824, $152,205,388 and $50,688,037 which are excluded from the proceeds from sales and maturities and cash in the amount of $8,115,909, $2,294,955, $17,404,702 and $0 for the Focused Fund, Growth Opportunities Fund, Mid Cap Growth Fund and Sands Capital Emerging Markets Growth Fund respectively. |
Flexible Income Fund | 0.60% on the first $500 million 0.50% on such assets in excess of $500 million |
Focused Fund | 0.70% on the first $100 million 0.65% on the next $400 million 0.60% on such assets in excess of $500 million |
Global ESG Equity Fund | 0.65% on the first $1 billion 0.60% on such assets in excess of $1 billion |
Growth Opportunities Fund | 0.75% on the first $500 million 0.70% on the next $500 million 0.65% on such assets in excess of $1 billion |
Mid Cap Growth Fund | 0.75% on the first $500 million 0.70% on the next $500 million 0.65% on the next $200 million 0.60% on such assets in excess of $1.2 billion |
Sands Capital Emerging Markets Growth Fund | 1.00% |
Strategic Income Opportunities Fund* | 0.55% on the first $250 million 0.50% on the next $250 million 0.45% on such assets in excess $500 million |
Bramshill Investments, LLC | Sands Capital Management, LLC |
Flexible Income Fund | Sands Capital Emerging Markets Growth Fund |
Fort Washington Investment Advisors, Inc.* | Westfield Capital Management Company, L.P. |
Focused Fund | Growth Opportunities Fund |
Strategic Income Opportunities Fund | Mid Cap Growth Fund |
Rockefeller & Co., LLC | |
Global ESG Equity Fund |
* | Affiliate of the Advisor and wholly-owned subsidiary of Western & Southern. |
Class A | Class C | Class Y | Institutional Class | Class R6 | Termination Date | |
Flexible Income Fund | 1.04% | 1.79% | 0.79% | 0.69% | — | July 29, 2022 |
Focused Fund | 1.20% | 1.95% | 0.95% | 0.83% | — | July 29, 2022 |
Global ESG Equity Fund | 1.17% | 1.99% | 0.90% | 0.89% | — | July 29, 2022 |
Growth Opportunities Fund | 1.24% | 1.99% | 0.99% | 0.89% | — | July 29, 2022 |
Mid Cap Growth Fund | 1.39% | 2.14% | 1.14% | 0.86% | 0.77% | July 29, 2022 |
Sands Capital Emerging Markets Growth Fund | 1.60% | 2.35% | 1.35% | 1.25% | 1.19% | July 29, 2022 |
Strategic Income Opportunities Fund* | 1.00% | 1.71% | 0.75% | 0.65% | — | July 29, 2023 |
* | Effective July 17, 2021. Prior to July 17, 2021, the expense limitation for Class A, B, C and W was 1.40%, 2.05%, 2.05%, and 1.20%, respectively. |
Fund | Investment Advisory Fees Waived | Administration Fees Waived | Other Operating Expenses Reimbursed/ Waived | Total |
Flexible Income Fund | $— | $11,865 | $167,577 | $179,442 |
Focused Fund | — | — | 10,171 | 10,171 |
Global ESG Equity Fund | — | — | 19,880 | 19,880 |
Growth Opportunities Fund | — | 44,586 | 130,217 | 174,803 |
Mid Cap Growth Fund | — | 28,824 | 127,106 | 155,930 |
Sands Capital Emerging Markets Growth Fund | — | — | 13,312 | 13,312 |
Strategic Income Opportunities Fund | — | 83 | 467,591 | 467,674 |
Fund | Expires on or before March 31, 2023 | Expires on or before March 31, 2024 | Expires on or before March 31, 2025 | Total |
Flexible Income Fund | $557,404 | $298,950 | $140,862 | $997,216 |
Focused Fund | 22,297 | 15,681 | 10,171 | 48,149 |
Global ESG Equity Fund | 107,012 | 59,632 | 12,644 | 179,288 |
Growth Opportunities Fund | 198,248 | 167,127 | 122,533 | 487,908 |
Mid Cap Growth Fund | 3,760 | 38,995 | 155,930 | 198,685 |
Sands Capital Emerging Markets Growth Fund | 25,128 | 3,514 | — | 28,642 |
Strategic Income Opportunities Fund | — | — | 62,969 | 62,969 |
Fund | Amount |
Flexible Income Fund | $ 3,602 |
Focused Fund | 6,984 |
Global ESG Equity Fund | 14,431 |
Growth Opportunities Fund | 6,482 |
Mid Cap Growth Fund | 33,296 |
Sands Capital Emerging Markets Growth Fund | 5,728 |
Strategic Income Opportunities Fund* | 1,304 |
* | For the period July 17, 2021 to March 31, 2022. For the period April 1, 2021 to July 16, 2021, the Former Distributor earned $3,942 on the sale of Class A shares. |
Fund | Class A | Class C |
Flexible Income Fund | $ 60 | $ 222 |
Focused Fund | — | 24 |
Global ESG Equity Fund | — | 5 |
Mid Cap Growth Fund | — | 52 |
Strategic Income Opportunities Fund* | — | 89 |
* | For the period July 17, 2021 to March 31, 2022. For the period April 1, 2021 to July 16, 2021, the Former Distributor collected CDSC of $5,156, $6,419, and $566 on the redemption of Class A shares, Class B shares, and Class C shares, respectively. |
Fund | Shares ReFlow Subscribed to | Redemptions-in-kind |
Focused Fund | 910,694 | $ 49,584,624 |
Growth Opportunities Fund | 282,576 | 10,433,824 |
Mid Cap Growth Fund | 4,053,759 | 152,205,388 |
Fund | Daily Average Amount Loaned | Weighted Average Interest Rate | Interest Income* |
Sands Capital Emerging Markets Growth Fund | $ 186,835 | 0.68% | $ 1,279 |
* | Included in Interest in the Statements of Operations. |
Fund | Daily Average Amount Borrowed | Weighted Average Interest Rate | Interest Expense* |
Sands Capital Emerging Markets Growth Fund | $ 306,338 | 0.68% | $ 2,097 |
* | Included in Other expenses in the Statements of Operations. |
Flexible Income Fund | Focused Fund | Global ESG Equity Fund | ||||
Year Ended March 31, 2022 | Year Ended March 31, 2021 | Year Ended March 31, 2022 | Year Ended March 31, 2021 | Year Ended March 31, 2022 | Year Ended March 31, 2021 | |
From ordinary income | $29,223,650 | $34,746,000 | $8,186,308 | $2,666,017 | $13,578,798 | $2,593,278 |
From long-term capital gains | — | — | 63,791,908 | 55,000,033 | 62,529,954 | — |
Total distributions | $29,223,650 | $34,746,000 | $71,978,216 | $57,666,050 | $76,108,752 | $2,593,278 |
Growth Opportunities Fund | Mid Cap Growth Fund | Sands Capital Emerging Markets Growth Fund | ||||
Year Ended March 31, 2022 | Year Ended March 31, 2021 | Year Ended March 31, 2022 | Year Ended March 31, 2021 | Year Ended March 31, 2022 | Year Ended March 31, 2021 | |
From ordinary income | $10,829,312 | $4,515,690 | $63,548,224 | $— | $83,985,024 | $— |
From long-term capital gains | 15,315,202 | 10,308,626 | 143,676,973 | 92,749,221 | — | — |
Total distributions | $26,144,514 | $14,824,316 | $207,225,197 | $92,749,221 | $83,985,024 | $— |
Strategic Income Opportunities Fund | ||
Year Ended March 31, 2022 | Year Ended March 31, 2021 | |
From ordinary income | $9,958,956 | $11,298,705 |
Total distributions | $9,958,956 | $11,298,705 |
Flexible Income Fund | Focused Fund | Global ESG Equity Fund | |
Tax cost of portfolio investments | $874,209,102 | $664,454,397 | $516,510,853 |
Gross unrealized appreciation on investments | 7,384,788 | 555,723,558 | 174,480,499 |
Gross unrealized depreciation on investments | (39,261,894) | (18,685,971) | (45,461,617) |
Net unrealized appreciation (depreciation) on investments | (31,877,106) | 537,037,587 | 129,018,882 |
Gross unrealized appreciation on foreign currency transactions | — | — | 6,485 |
Gross unrealized depreciation on short sales and foreign currency transactions | (764,636) | — | (29,526) |
Net unrealized appreciation (depreciation) on short sales and foreign currency transactions | (764,636) | — | (23,041) |
Undistributed ordinary income | 519,842 | 1,277,609 | 1,533,211 |
Undistributed capital gains | 944,221 | 30,327,460 | 26,314,477 |
Accumulated earnings (deficit) | $(31,177,679) | $568,642,656 | $156,843,529 |
Growth Opportunities Fund | Mid Cap Growth Fund | Sands Capital Emerging Markets Growth Fund | Strategic Income Opportunities Fund | |
Tax cost of portfolio investments | $94,548,982 | $1,001,345,628 | $3,558,757,690 | $345,382,682 |
Gross unrealized appreciation on investments | 69,772,803 | 356,622,195 | 670,209,935 | 2,823,003 |
Gross unrealized depreciation on investments | (1,881,285) | (45,583,132) | (564,109,557) | (24,524,213) |
Net unrealized appreciation (depreciation) on investments | 67,891,518 | 311,039,063 | 106,100,378 | (21,701,210) |
Gross unrealized appreciation on derivatives and foreign currency transactions | — | — | 25,042 | 5 |
Gross unrealized depreciation on foreign currency transactions and deferred foreign capital gains tax | — | — | (26,240,984) | — |
Net unrealized appreciation (depreciation) on derivatives, foreign currency transactions and deferred foreign capital gains tax | — | — | (26,215,942) | 5 |
Capital loss carryforwards | — | — | (248,815,220) | (45,653,203) |
Late year ordinary losses deferrals | — | — | (23,139,110) | (37,961) |
Undistributed ordinary income | 863,482 | 7,443,814 | — | — |
Undistributed capital gains | 800,459 | 19,506,410 | — | — |
Accumulated earnings (deficit) | $69,555,459 | $337,989,287 | $(192,069,894) | $(67,392,369) |
Fund | No Expiration Short Term | No Expiration Long Term | Total |
Sands Capital Emerging Markets Growth Fund | $ 248,815,220 | $ — | $ 248,815,220 |
Strategic Income Opportunities Fund | 586,141 | 45,067,062 | 45,653,203 |
Fund | Utilized |
Flexible Income Fund | $ 4,468,859 |
Strategic Income Opportunities Fund | 6,200,271 |
Fund | Realized Capital Losses | Ordinary Losses | Total |
Sands Capital Emerging Markets Growth Fund | $ — | $ 23,139,110 | $ 23,139,110 |
Strategic Income Opportunities Fund | — | 37,961 | 37,961 |
Fund | Paid-In Capital | Distributable Earnings |
Focused Fund | $ 40,468,668 | $ (40,468,668) |
Growth Opportunities Fund | 7,939,261 | (7,939,261) |
Mid Cap Growth Fund | 100,236,178 | (100,236,178) |
Sands Capital Emerging Markets Growth Fund | 25,989,606 | (25,989,606) |
Strategic Income Opportunities Fund | 27,948,544 | (27,948,544) |
Before Reorganization | After Reorganization | ||
AIG Flexible Credit Fund | AIG Strategic Bond Fund | Touchstone Strategic Income Opportunities Fund | |
Class A | |||
Shares | 23,288,989(A) | 46,882,190 | 73,850,329 |
Net Assets | $82,014,099 | $165,102,430 | $260,073,020 |
Net Asset Value | $3.52(A) | $3.52 | $3.52 |
Class B* | |||
Shares | — | 3,679,150(D) | $— |
Net Assets | $— | $12,956,491 | $— |
Net Asset Value | $— | $3.52 | $— |
Class C | |||
Shares | 9,310,842(B) | 10,069,753 | 19,380,595 |
Net Assets | $32,869,573 | $35,547,801 | $68,417,374 |
Net Asset Value | $3.53(B) | $3.53 | $3.53 |
Class Y** | |||
Shares | 26,820,573(C) | 29,268,862 | 56,089,435 |
Net Assets | $94,266,176 | $102,869,883 | $197,136,059 |
Net Asset Value | $3.51(C) | $3.51 | $3.51 |
Fund Total | |||
Shares Outstanding | 59,420,404 | 89,899,955 | 149,320,359 |
Net Assets | $209,149,848 | $316,476,605 | $525,626,453 |
Unrealized Appreciation (Depreciation) | $4,299,043 | $8,409,184 | $12,708,227 |
Net investment income | $11,850,858 |
Net realized and unrealized gain(loss) on investments | $(19,331,668) |
Net decrease in net assets resulting from operations | $(7,480,810) |
May 23, 2022
Focused Fund | 100.00 % |
Global ESG Equity Fund | 100.00 % |
Growth Opportunities Fund | 11.10 % |
Mid Cap Growth Fund | 51.10 % |
Sands Capital Emerging Markets Growth Fund | 19.94 % |
Strategic Income Opportunities Fund | 5.98 % |
Focused Fund | 100.00 % |
Global ESG Equity Fund | 43.91 % |
Growth Opportunities Fund | 21.48 % |
Mid Cap Growth Fund | 48.50 % |
Strategic Income Opportunities Fund | 5.36 % |
Flexible Income Fund | $ 944,221 |
Focused Fund | $ 71,604,613 |
Global ESG Equity Fund | $ 62,529,954 |
Growth Opportunities Fund | $ 17,829,107 |
Mid Cap Growth Fund | $ 184,413,772 |
Net Expense Ratio Annualized March 31, 2022 | Beginning Account Value October 1, 2021 | Ending Account Value March 31, 2022 | Expenses Paid During the Six Months Ended March 31, 2022* | ||
Flexible Income Fund | |||||
Class A | Actual | 1.15% | $1,000.00 | $954.50 | $5.60** |
Class A | Hypothetical | 1.15% | $1,000.00 | $1,019.20 | $5.79** |
Class C | Actual | 1.90% | $1,000.00 | $951.10 | $9.24** |
Class C | Hypothetical | 1.90% | $1,000.00 | $1,015.46 | $9.55** |
Class Y | Actual | 0.89% | $1,000.00 | $954.90 | $4.34** |
Class Y | Hypothetical | 0.89% | $1,000.00 | $1,020.49 | $4.48** |
Institutional Class | Actual | 0.82% | $1,000.00 | $955.80 | $4.00** |
Institutional Class | Hypothetical | 0.82% | $1,000.00 | $1,020.84 | $4.13** |
Focused Fund | |||||
Class A | Actual | 1.15% | $1,000.00 | $1,012.70 | $5.77*** |
Class A | Hypothetical | 1.15% | $1,000.00 | $1,019.20 | $5.79*** |
Class C | Actual | 1.91% | $1,000.00 | $1,009.00 | $9.57*** |
Class C | Hypothetical | 1.91% | $1,000.00 | $1,015.41 | $9.60*** |
Class Y | Actual | 0.86% | $1,000.00 | $1,014.30 | $4.32*** |
Class Y | Hypothetical | 0.86% | $1,000.00 | $1,020.64 | $4.33*** |
Institutional Class | Actual | 0.84% | $1,000.00 | $1,014.60 | $4.22*** |
Institutional Class | Hypothetical | 0.84% | $1,000.00 | $1,020.74 | $4.23*** |
Global ESG Equity Fund | |||||
Class A | Actual | 1.02% | $1,000.00 | $968.40 | $5.01 |
Class A | Hypothetical | 1.02% | $1,000.00 | $1,019.85 | $5.14 |
Class C | Actual | 1.99% | $1,000.00 | $963.60 | $9.74 |
Class C | Hypothetical | 1.99% | $1,000.00 | $1,015.01 | $10.00 |
Class Y | Actual | 0.90% | $1,000.00 | $969.40 | $4.42 |
Class Y | Hypothetical | 0.90% | $1,000.00 | $1,020.44 | $4.53 |
Institutional Class | Actual | 0.89% | $1,000.00 | $969.00 | $4.37 |
Institutional Class | Hypothetical | 0.89% | $1,000.00 | $1,020.49 | $4.48 |
Growth Opportunities Fund | |||||
Class A | Actual | 1.27% | $1,000.00 | $1,005.60 | $6.35**** |
Class A | Hypothetical | 1.27% | $1,000.00 | $1,018.60 | $6.39**** |
Class C | Actual | 2.02% | $1,000.00 | $1,001.70 | $10.08**** |
Class C | Hypothetical | 2.02% | $1,000.00 | $1,014.86 | $10.15**** |
Class Y | Actual | 1.02% | $1,000.00 | $1,006.70 | $5.10**** |
Class Y | Hypothetical | 1.02% | $1,000.00 | $1,019.85 | $5.14**** |
Net Expense Ratio Annualized March 31, 2022 | Beginning Account Value October 1, 2021 | Ending Account Value March 31, 2022 | Expenses Paid During the Six Months Ended March 31, 2022* | ||
Institutional Class | Actual | 0.92% | $1,000.00 | $1,007.30 | $4.60**** |
Institutional Class | Hypothetical | 0.92% | $1,000.00 | $1,020.34 | $4.63**** |
Mid Cap Growth Fund | |||||
Class A | Actual | 1.21% | $1,000.00 | $962.10 | $5.92***** |
Class A | Hypothetical | 1.21% | $1,000.00 | $1,018.90 | $6.09***** |
Class C | Actual | 2.04% | $1,000.00 | $958.40 | $9.96***** |
Class C | Hypothetical | 2.04% | $1,000.00 | $1,014.76 | $10.25***** |
Class Y | Actual | 0.99% | $1,000.00 | $962.90 | $4.84***** |
Class Y | Hypothetical | 0.99% | $1,000.00 | $1,020.00 | $4.99***** |
Institutional Class | Actual | 0.88% | $1,000.00 | $963.70 | $4.31***** |
Institutional Class | Hypothetical | 0.88% | $1,000.00 | $1,020.54 | $4.43***** |
Class R6 | Actual | 0.79% | $1,000.00 | $964.00 | $3.87***** |
Class R6 | Hypothetical | 0.79% | $1,000.00 | $1,020.99 | $3.98***** |
Sands Capital Emerging Markets Growth Fund | |||||
Class A | Actual | 1.60% | $1,000.00 | $719.90 | $6.86 |
Class A | Hypothetical | 1.60% | $1,000.00 | $1,016.95 | $8.05 |
Class C | Actual | 2.35% | $1,000.00 | $717.70 | $10.06 |
Class C | Hypothetical | 2.35% | $1,000.00 | $1,013.21 | $11.80 |
Class Y | Actual | 1.33% | $1,000.00 | $721.10 | $5.71 |
Class Y | Hypothetical | 1.33% | $1,000.00 | $1,018.30 | $6.69 |
Institutional Class | Actual | 1.21% | $1,000.00 | $721.70 | $5.19 |
Institutional Class | Hypothetical | 1.21% | $1,000.00 | $1,018.90 | $6.09 |
Class R6 | Actual | 1.16% | $1,000.00 | $721.90 | $4.98 |
Class R6 | Hypothetical | 1.16% | $1,000.00 | $1,019.15 | $5.84 |
Strategic Income Opportunities Fund | |||||
Class A | Actual | 0.93% | $1,000.00 | $948.50 | $4.52 |
Class A | Hypothetical | 0.93% | $1,000.00 | $1,020.29 | $4.68 |
Class C | Actual | 1.69% | $1,000.00 | $945.20 | $8.20 |
Class C | Hypothetical | 1.69% | $1,000.00 | $1,016.50 | $8.50 |
Class Y | Actual | 0.73% | $1,000.00 | $949.60 | $3.55 |
Class Y | Hypothetical | 0.73% | $1,000.00 | $1,021.29 | $3.68 |
Institutional Class | Actual | 0.49% | $1,000.00 | $952.80 | $2.39 |
Institutional Class | Hypothetical | 0.49% | $1,000.00 | $1,022.49 | $2.47 |
* | Expenses are equal to the Fund’s annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/365 (to reflect one-half year period). |
** | Excluding dividend and interest expense on securities sold short, your actual cost of investment in Class A, Class C, Class Y and Institutional Class would be $5.08, $8.72, $3.82 and $3.48, respectively, and your hypothetical cost of investment in Class A, Class C, Class Y and Institutional Class would be $5.25, $9.01, $3.95 and $3.59, respectively. |
*** | Excluding liquidity provider expenses, your actual cost of investment in Class A, Class C, Class Y and Institutional Class would be $5.71, $9.51, $4.26 and $4.16, respectively, and your hypothetical cost of investment in Class A, Class C, Class Y and Institutional Class would be $5.73, $9.54, $4.27 and $4.17, respectively. |
**** | Excluding liquidity provider expenses, your actual cost of investment in Class A, Class C, Class Y and Institutional Class would be $6.22, $9.95, $4.97 and $4.47, respectively, and your hypothetical cost of investment in Class A, Class C, Class Y and Institutional Class would be $6.26, $10.01, $5.00 and $4.50, respectively. |
***** | Excluding liquidity provider expenses, your actual cost of investment in Class A, Class C, Class Y, Institutional Class and Class R6 would be $5.79, $9.84, $4.72, $4.18 and $3.74, respectively, and your hypothetical cost of investment in Class A, Class C, Class Y, Institutional Class and Class R6 would be $5.96, $10.12, $4.86, $4.30 and $3.85, respectively. |
Interested Trustees1: | |||||
Name Address Year of Birth | Position Held with Trust | Term of Office And Length of Time Served | Principal Occupation(s) During Past 5 Years | Number of Funds Overseen in the Touchstone Fund Complex2 | Other Directorships Held During Past 5 Years3 |
Jill T. McGruder Touchstone Advisors, Inc. 303 Broadway Suite 1100 Cincinnati, Ohio 45202 Year of Birth: 1955 | Trustee | Until retirement at age 75 or until she resigns or is removed Trustee since 1999 | President of Touchstone Funds from 1999 to 2020; Director and CEO of IFS Financial Services, Inc. (a holding company) since 1999; and Senior Vice President and Chief Marketing Officer of Western & Southern Financial Group, Inc. (a financial services company) since 2016. | 36 | Director, Integrity Life Insurance Co. and National Integrity Life Insurance Co. since 2005; Director, Touchstone Securities (the Distributor) since 1999; Director, Touchstone Advisors (the Advisor) since 1999; Director, W&S Brokerage Services, Inc. since 1999; Director, W&S Financial Group Distributors, Inc. since 1999; Director, Insurance Profillment Solutions LLC since 2014; Director, Columbus Life Insurance Co. since 2016; Director, The Lafayette Life Insurance Co. since 2016; Director, Gerber Life Insurance Company since 2019; Director, Western & Southern Agency, Inc. since 2018; and Director, LL Global, Inc. (not-for-profit trade organization with operating divisions LIMRA and LOMA) since 2016. |
E. Blake Moore, Jr. Touchstone Advisors, Inc. 303 Broadway Suite 1100 Cincinnati, Ohio 45202 Year of Birth: 1958 | President and Trustee | Until retirement at age 75 or until he resigns or is removed Trustee since 2021 | President, Touchstone Funds since 2021; Chief Executive Officer of Touchstone Advisors, Inc. and Touchstone Securities, Inc. since 2020; President, Foresters Investment Management Company, Inc. from 2018 to 2020; President, North American Asset Management at Foresters Financial from 2018 to 2020; Managing Director, Head of Americas at UBS Asset Management from 2015 to 2017; and Executive Vice President, Head of Distribution at Mackenzie Investments from 2011 to 2014. | 36 | Trustee, College of Wooster since 2008; and Director, UBS Funds from 2015 to 2017. |
Independent Trustees: | |||||
Karen Carnahan c/o Touchstone Advisors, Inc. 303 Broadway Suite 1100 Cincinnati, Ohio 45202 Year of Birth: 1954 | Trustee | Until retirement at age 75 or until she resigns or is removed Trustee since 2019 | Retired; formerly Chief Operating Officer of Shred-it (a business services company) from 2014 to 2015; formerly President & Chief Operating Officer of the document management division of Cintas Corporation (a business services company) from 2008 to 2014. | 36 | Director, Cintas Corporation since 2019; Director, Boys & Girls Club of West Chester/Liberty since 2016; and Board of Advisors, Best Upon Request from 2020 to 2021. |
William C. Gale c/o Touchstone Advisors, Inc. 303 Broadway Suite 1100 Cincinnati, Ohio 45202 Year of Birth: 1952 | Trustee | Until retirement at age 75 or until he resigns or is removed Trustee since 2013 | Retired; formerly Senior Vice President and Chief Financial Officer of Cintas Corporation (a business services company) from 1995 to 2015. | 36 | None. |
Independent Trustees (Continued): | |||||
Name Address Year of Birth | Position Held with Trust | Term of Office And Length of Time Served | Principal Occupation(s) During Past 5 Years | Number of Funds Overseen in the Touchstone Fund Complex2 (Continued) | Other Directorships Held During Past 5 Years3 |
Susan J. Hickenlooper, CFA(4) c/o Touchstone Advisors, Inc. 303 Broadway Suite 1100 Cincinnati, Ohio 45202 Year of Birth: 1946 | Trustee | Until retirement at age 75 or until she resigns or is removed Trustee since 2009 | Retired from investment management. | 36 | Trustee, Episcopal Diocese of Southern Ohio from 2014 to 2018. |
Susan M. King c/o Touchstone Advisors, Inc. 303 Broadway Suite 1100 Cincinnati, Ohio 45202 Year of Birth: 1963 | Trustee | Until retirement at age 75 or until she resigns or is removed Trustee since 2021 | Formerly, Partner of ID Fund LLC (2020 to 2021); formerly, Senior Vice President, Head of Product and Marketing Strategy of Foresters Financial (2018 to 2020); formerly, Managing Director, Head of Sales Strategy and Marketing, Americas of UBS Asset Management (2015 to 2017); formerly, Director, Allianz Funds, Allianz Funds Multi-Strategy Trust and AllianzGI Institutional Multi-Series Trust (2014 to 2015); and formerly, Director, Alliance Capital Cash Management Offshore Funds (2003 to 2005). | 36 | Trustee, Claremont McKenna College since 2017; Trustee, Israel Cancer Research Fund since 2019; and Board Member of WHAM! (Women's Health Access Matters) since 2021. |
Kevin A. Robie c/o Touchstone Advisors, Inc. 303 Broadway Suite 1100 Cincinnati, Ohio 45202 Year of Birth: 1956 | Trustee | Until retirement at age 75 or until he resigns or is removed Trustee since 2013 | Retired; formerly Vice President of Portfolio Management at Soin LLC (private multinational holding company and family office) from 2004 to 2020. | 36 | Director, SaverSystems, Inc. since 2015; Director, Buckeye EcoCare, Inc. from 2013 to 2018; Director, Turner Property Services Group, Inc. since 2017; Trustee, Dayton Region New Market Fund, LLC (private fund) since 2010; and Trustee, Entrepreneurs Center, Inc. (business incubator) since 2006. |
William H. Zimmer III c/o Touchstone Advisors, Inc. 303 Broadway Suite 1100 Cincinnati, Ohio 45202 Year of Birth: 1953 | Trustee | Until retirement at age 75 or until he resigns or is removed Trustee since 2019 | Independent Treasury Consultant since 2014. | 36 | Director, Deaconess Associations, Inc. (healthcare) since 2001; Trustee, Huntington Funds (mutual funds) from 2006 to 2015; and Director, National Association of Corporate Treasurers from 2011 to 2015. |
Principal Officers: | |||
Name Address Year of Birth | Position(s) Held with Trust1 | Term of Office And Length of Time Served | Principal Occupation(s) During Past 5 Years |
E. Blake Moore, Jr. Touchstone Advisors, Inc. 303 Broadway Suite 1100 Cincinnati, Ohio 45202 Year of Birth: 1958 | President and Trustee | Until resignation, removal or disqualification President since January 2021 | See biography above. |
Timothy D. Paulin Touchstone Advisors, Inc. 303 Broadway Suite 1100 Cincinnati, Ohio 45202 Year of Birth: 1963 | Vice President | Until resignation, removal or disqualification Vice President since 2010 | Senior Vice President of Investment Research and Product Management of Touchstone Advisors, Inc. |
Timothy S. Stearns Touchstone Advisors, Inc. 303 Broadway Suite 1100 Cincinnati, Ohio 45202 Year of Birth: 1963 | Chief Compliance Officer | Until resignation, removal or disqualification Chief Compliance Officer since 2013 | Chief Compliance Officer of Touchstone Advisors, Inc. |
Terrie A. Wiedenheft Touchstone Advisors, Inc. 303 Broadway Suite 1100 Cincinnati, Ohio 45202 Year of Birth: 1962 | Controller and Treasurer | Until resignation, removal or disqualification Controller and Treasurer since 2006 | Senior Vice President, Chief Financial Officer and Chief Operations Officer, of IFS Financial Services, Inc. (a holding company) and Senior Vice President and Chief Administration Officer within the Office of the Chief Marketing Officer of Western & Southern Financial Group (2021 to Present). |
Meredyth A. Whitford-Schultz Western & Southern Financial Group 400 Broadway Cincinnati, Ohio 45202 Year of Birth: 1981 | Secretary | Until resignation, removal or disqualification Secretary since 2018 | Senior Counsel - Securities/Mutual Funds of Western & Southern Financial Group (2015 to present); Associate at Morgan Lewis & Bockius LLP (law firm) (2014 to 2015); Associate at Bingham McCutchen LLP (law firm) (2008 to 2014). |
303 Broadway
Cincinnati, Ohio 45202-4203
800.638.8194
www.touchstoneinvestments.com
303 Broadway
Cincinnati, Ohio 45202-4203
4400 Computer Drive
Westborough, Massachusetts 01581
(b) | Not applicable. |
Item 2. Code of Ethics.
(a) | The registrant, as of the end of the period covered by this report, has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party. |
(c) | There have been no amendments, during the period covered by this report, to a provision of the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, and that relates to any element of the code of ethics description. |
(d) | The registrant has not granted any waivers, including an implicit waiver, from a provision of the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, that relates to one or more of the items set forth in paragraph (b) of this item’s instructions. |
(e) | Not applicable. |
(f) | A copy of the code of ethics is attached hereto as Exhibit 13(a)(1). |
Item 3. Audit Committee Financial Expert.
The registrant’s Board of Trustees has determined that the registrant has at least one audit committee financial expert serving on its audit committee. Ms. Karen Carnahan is the registrant’s audit committee financial expert and is an independent trustee within the meaning of the Investment Company Act of 1940, as amended (the “1940 Act”).
Item 4. Principal Accountant Fees and Services.
Audit Fees
(a) | Audit fees for Touchstone Strategic Trust (March Funds) totaled $141,100 and $117,600 for the fiscal years ended March 31, 2022 and March 31, 2021, respectively, including fees associated with the annual audits and filings of Form N-1A and Form N-CEN. |
Audit-Related Fees
(b) | The aggregate fees billed in each of the last two fiscal years for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant's financial statements and are not reported under paragraph (a) of this Item are $6,800 and $5,500 for the fiscal years ended March 31, 2022 and March 31, 2021, respectively. The fees for 2022 relate to the review of Form N-1A filings and the fees for 2021 relate to additional fees for valuation procedures. |
Tax Fees
(c) | The aggregate fees billed in each of the last two fiscal years for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning were $78,690 and $39,555 for the fiscal years ended March 31, 2022 and March 31, 2021, respectively. The fees relate to the preparation of federal income and excise tax returns, review of capital gains distribution calculations and tax agent services. |
All Other Fees
(d) | The aggregate fees billed in each of the last two fiscal years for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) of this Item are $38,186 and $18,354 for the fiscal years ended March 31, 2022 and March 31, 2021, respectively. The fees relate to tax research and the PFIC analyzer and Global Withholding Tax Reporter subscriptions. |
(e)(1) | Disclose the audit committee's pre-approval policies and procedures described in paragraph (c)(7) of Rule 2-01 of Regulation S-X. |
The Audit Committee’s pre-approval policies describe the types of audit, audit-related, tax and other services that have the general pre-approval of the Audit Committee. The pre-approval policies provide that annual audit service fees, tax services not specifically granted pre-approval, services exceeding pre-approved cost levels and other services that have not received general pre-approval will be subject to specific pre-approval by the Audit Committee. The pre-approval policies further provide that the Committee may grant general pre-approval to other audit services (statutory audits and services associated with SEC registration statements, periodic reports and other documents filed with the SEC or other documents issued in connection with securities offerings), audit-related services (accounting consultations related to accounting, financial reporting or disclosure matters not classified as “audit services,” assistance with understanding and implementing new accounting and financial reporting guidance from rulemaking authorities, agreed-upon or expanded audit procedures related to accounting and/or billing records required to respond to or comply with financial, accounting or regulatory reporting matters and assistance with internal control reporting requirements under Form N-CSR), tax services that have historically been provided by the auditor that the Committee believes would not impair the independence of the auditor and are consistent with the SEC’s rules on auditor independence and permissible non-audit services classified as “all other services” that are routine and recurring services.
(e)(2) | All of the services described in paragraphs (b) through (d) of Item 4 were approved by the Audit Committee. |
(f) | The percentage of hours expended on the principal accountant's engagement to audit the registrant's financial statements for the most recent fiscal year that were attributed to work performed by persons other than the principal accountant's full-time, permanent employees was less than fifty percent. |
(g) | The aggregate non-audit fees for Touchstone Strategic Trust (March Funds) and certain entities*, totaled approximately $568,578 and $719,238 for the fiscal years ended March 31, 2022 and March 31, 2021, respectively. |
* These include the advisors (excluding non-affiliated sub-advisors) and any entity controlling, controlled by or under common control with the advisors that provides ongoing services to the registrant (Funds).
(h) | The registrant's audit committee of the Board of Trustees has considered whether the provision of non-audit services that were rendered to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant's independence. |
(i) Not applicable.
(j) Not applicable.
Item 5. Audit Committee of Listed Registrants.
Not applicable.
Item 6. Investments.
(a) | Schedule of Investments in securities of unaffiliated issuers as of the close of the reporting period is included as part of the report to shareholders filed under Item 1(a) of this form. |
(b) | Not applicable. |
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10. Submission of Matters to a Vote of Security Holders.
There have been no material changes to the procedures by which the shareholders may recommend nominees to the registrant’s board of trustees, where those changes were implemented after the registrant last provided disclosure in response to the requirements of Item 407(c)(2)(iv) of Regulation S-K (17 CFR 229.407) (as required by Item 22(b)(15) of Schedule 14A (17 CFR 240.14a-101)), or this Item.
Item 11. Controls and Procedures.
(a) | The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(b)). |
(b) | There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d))) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.
Item 13. Exhibits.
(a)(1) | Code of ethics, and any amendment thereto, that is the subject of disclosure required by Item 2 is attached hereto. |
(a)(2) | Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto. |
(a)(2)(1) | Not applicable. |
(a)(2)(2) | Not applicable. |
(b) | Certifications pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) Touchstone Strategic Trust
By (Signature and Title)* | /s/ E. Blake Moore, Jr. | |
E. Blake Moore, Jr., President | ||
(principal executive officer) |
Date: | June 1, 2022 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title)* | /s/ E. Blake Moore, Jr. | |
E. Blake Moore, Jr., President | ||
(principal executive officer) |
Date: | June 1, 2022 |
By (Signature and Title)* | /s/ Terrie A. Wiedenheft | |
Terrie A. Wiedenheft, Controller and Treasurer | ||
(principal financial officer) |
Date: | June 1, 2022 |
* Print the name and title of each signing officer under his or her signature.