Touchstone Small Cap Institutional TSFIX

The fund invests at least 80% of its net assets (including borrowings for investment purposes) in common stocks of small capitalization U.S. companies. A small capitalization company has a market capitalization within the range of market capitalization represented in the Russell 2000 ® Index, the S&P SmallCap 600 Index, or the Dow Jones U.S. Small Cap Total Stock Market Index at the time of purchase. The size of the companies in these indices will change with market conditions. The fund will hold securities of approximately 30 to 40 companies. It is non-diversified.