Touchstone Investments Names Westfield Capital Management Company Sole Sub-advisor of Touchstone Mid Cap Growth Fund

CINCINNATI, Feb. 23, 2011 /PRNewswire/ -- Touchstone Investments announced today that Westfield Capital Management Company (Westfield), sub-advisor of the Touchstone Mid Cap Growth Fund since its inception in 1994, has been named the sole sub-advisor of the Fund, effective Feb. 23, 2011. Previously, Westfield managed 60 percent of the Fund's assets with the remaining 40 percent managed by TCW Investment Management Company.

By shifting the Fund to a single sub-advisor, Touchstone is able to pass along economy-of-scale benefits to Fund shareholders, resulting in a reduction in Fund expenses (Class A shares: 1.50 percent to 1.43 percent) and management fees (0.80 percent flat fee to breakpoints starting at 0.75 percent of assets under management) effective on March 1, 2011.

"We believe that using a single-sub-advisor for this Fund is in the best long-term interest of shareholders," said Steve Graziano, president of Touchstone Investments.  "Along with the expense reduction, Touchstone believes that this change will potentially result in increased assets, which will provide further economies of scale."  

Shareholders will have full access to Westfield's mid cap growth investment strategy, which applies extensive fundamental research to identify companies that Westfield believes have shown above-average and consistent long-term growth in earnings and have excellent prospects for future growth.

"This decision eliminates some of the concerns and confusion that many of our clients have expressed regarding the appropriateness of this Fund for asset allocation strategies," Graziano said.  "In its reincarnated form, this Fund provides shareholders with greater style purity within the mid cap growth category."

The Fund's daily portfolio decisions will continue to be made by Westfield's Investment Committee chaired by William A. Muggia. The committee divides investment responsibility among a team of seasoned industry/sector specialists who average 20 years of investment experience.  Muggia, who is also president, chief executive officer, and chief investment officer of Westfield, has worked at Westfield since 1994 and has investment experience that dates back to 1984.

About Touchstone Investments

Touchstone Investments is committed to providing access to a distinctive selection of institutional asset managers whose strategies are typically not available to the average investor.  Known and respected for proficiency in their specific area of expertise, Touchstone's sub-advisors have been carefully researched, selected and monitored based on Touchstone's disciplined, five-factor due diligence process. Touchstone believes that this comprehensive approach to selecting and monitoring sub-advisors helps to maximize fund performance over time. The Touchstone Funds are offered nationally through intermediaries, including broker-dealers, financial planners, registered investment advisors and institutions, by Touchstone Securities, Inc.(1) and advised by Touchstone Advisors, Inc.(2) For more information please call 1.800.638.8194 or visit www.touchstoneinvestments.com.  

About Westfield Capital Management

Westfield Capital Management is an SEC-registered investment advisor dedicated to providing quality investment management services to institutions and wealthy individuals. Westfield supervises domestic growth equities, with products focusing on each segment of the capitalization spectrum. Westfield's team of 14 investment professionals employs an in-depth, fundamental research process to uncover growth opportunities not yet fully appreciated by the market. Assets under management as of December 31, 2010 were $15.1 billion.

(1)A registered broker-dealer and member FINRA/SIPC

(2)A registered investment advisor

A Word About Risk

The Fund invests primarily in stocks of mid-cap companies which tend to be more volatile and can be less liquid than stocks of large-cap companies. The Fund's returns may have been impacted by investing in technology stocks, which can be more volatile than other sectors. The Fund may invest in securities of foreign companies and thus carries the associated risks of economic and political instability, market liquidity and currency volatility. Diversification does not guarantee a profit or protect against loss. Current and future portfolio holdings are subject to risk.

Please consider the investment objectives, risks, charges and expenses of the fund carefully before investing. The prospectus and the summary prospectus contain this and other information about the Fund. To obtain a prospectus or a summary prospectus, contact your financial advisor or download and/or request one at TouchstoneInvestments.com/home/formslit/ or call Touchstone at 800.638.8194. Please read the prospectus and/or summary prospectus carefully before investing.

Investment return and principal value of an investment in a Fund will fluctuate so that investor's shares, when redeemed, may be worth more or less than their original cost.

Investment products offered are not FDIC insured, may lose value and have no bank guarantee.

Touchstone Funds are distributed by Touchstone Securities, Inc.*

*A registered broker-dealer and member FINRA/SIPC

Touchstone is a member of Western & Southern Financial Group.

SOURCE Touchstone Investments