Touchstone Mid Cap Value Institutional Class Fonds

The investment seeks capital appreciation. The fund invests, under normal conditions, at least 80% of its net assets (including borrowings for investment purposes) in common stocks of companies with medium market capitalizations. For purposes of the fund, a medium capitalization company has a market capitalization within the range of market capitalization represented in the Russell Midcap ® Index at the time of purchase. The size of the companies in the Russell Midcap Value Index will change with market conditions. The fund will hold approximately 60 to 80 securities.