CINCINNATI, June 10, 2016 /PRNewswire/ -- Touchstone Advisors Inc. has entered into an agreement to acquire the assets of U.S. mutual funds managed by DSM Capital Partners LLC (DSM). As part of the agreement, Touchstone, a wholly owned subsidiary of Western & Southern Financial Group, will acquire roughly $208 million in assets and add DSM as its newest sub-advisor.
The DSM Large Cap Growth Fund will be reorganized into the Touchstone Large Company Growth Fund. The DSM Global Growth Fund and the DSM Global Growth & Income Fund will be reorganized into the Touchstone Global Growth Fund. The new funds will adhere to similar investment goals and strategies, while retaining the investment team of DSM with Daniel Strickberger, co-managing partner and chief investment officer of DSM, as the portfolio manager. The reorganizations are contingent upon DSM shareholder approval.
"We were determined to make this acquisition a reality because these funds offer expert management and strong, long-term performance records. The DSM investment team relies on extensive experience to combine intensive fundamental research with a rigorous valuation methodology to seek long-term returns with reduced risk," said Steven M. Graziano, president of Touchstone Investments. "The firm has also played a critical role in running actively managed, concentrated portfolios for investors and will boost our lineup of highly active strategies with holdings that are differentiated from their benchmarks."
The changes will include the creation of new share classes for the funds, which currently only offer an institutional share class. The reorganization, contingent upon shareholder approval, is expected to be completed later this summer.
"We look for companies with growing businesses, attractive returns, solid business fundamentals and intelligent management. We believe the research and stock selection process must be fast, flexible, and opportunistic," Strickberger said. "With this acquisition, our shareholders will gain access to Touchstone's larger distribution platform, which could lead to more growth opportunities, greater economies of scale and lower overall costs."
Touchstone Advisors had roughly $15.8 billion in assets under management as of March 31, 2016.
About Touchstone Investments
Touchstone Investments is a mutual fund company committed to providing investors with access to institutional asset managers who act in a sub-advisory capacity. Managed by sub-advisors with high conviction, concentrated portfolios, Touchstone's entire equity fund lineup is composed of high Active Share funds which means their holdings are highly differentiated from their benchmarks. Touchstone's sub-advisor selection and monitoring approach is built upon the conviction that an asset manager's organizational stability, quality of its personnel, adherence to its investment discipline and infrastructure represent the elements of repeatable, value-added performance results over time. This philosophy has resulted in a diverse but focused product offering that gives investors a full breadth of investment options across styles and asset classes. The Touchstone Funds are advised by Touchstone Advisors, Inc., a registered investment advisor, and are distributed nationally through intermediaries including broker-dealers, financial planners and institutions by Touchstone Securities, Inc., a registered broker-dealer and member FINRA/SIPC. Touchstone, Touchstone Funds and Touchstone Investments are federal service mark registrations and applications owned by IFS Financial Services, Inc. Touchstone Securities, Inc., Touchstone Advisors, Inc. and IFS Financial Services, Inc. are members of Western & Southern Financial Group. For more information, please visit www.TouchstoneInvestments.com.
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/literature-center or call Touchstone at 800.638.8194. Please read the prospectus and/or summary prospectus carefully before investing.
About DSM Capital Partners
The Palm Beach Gardens, Florida-based DSM Capital Partners LLC (DSM) has over $7 billion in assets under management and focuses on managing highly active, high conviction growth strategies for a diverse group of institutional and high-net-worth clients. The DSM family of funds includes the DSM Large Cap Growth Fund (DSMLX) and the DSM Global Growth Fund (DSMGX), each having an objective of long-term capital appreciation, and the DSM Global Growth & Income Fund (DSMYX), having the dual objective of long-term capital appreciation and current income. DSM is the investment adviser to the funds. Please refer to the prospectus for each fund for important information including objectives, risks, charges, and expenses. Read and consider the prospectus carefully before investing. You may also obtain a hard copy of the prospectus by calling 877.862.9555.The DSM Mutual Funds are distributed by Quasar Distributors, LLC. DSM employs a bottom-up, growth stock process with an intermediate- to long-term investment horizon. The firm's ten-person investment team specializes in proprietary fundamental research to identify and model reliable growth companies, complemented by a rigorous valuation discipline used for both buying and selling positions. The valuation discipline makes DSM a growth firm with a value backbone. DSM was founded in 2001 and serves as investment adviser to corporations, endowments and foundations, pension plans, family offices, high-net-worth individual investors and registered advisors. The employee-owned firm is located at 7111 Fairway Drive, Suite 350, Palm Beach Gardens, Florida 33418. For complete information, see http://www.dsmfunds.com/index.html.
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SOURCE Touchstone Investments