CINCINNATI, Aug. 27, 2012 /PRNewswire/ -- Touchstone Investments announced today the Touchstone Small Cap Core Fund will close to new purchasers effective as of the close of business on September 21, 2012. The Fund will not accept additional investments after that date with a few exceptions. The purchasing rights of existing shareholders will not change after that date. Please see the prospectus supplement for more details.
The $450 million Fund, which has been sub-advised by Richmond, Va.-based The London Company ("TLC") since its inception in September 2009, seeks long-term capital appreciation by investing primarily in stocks of U.S. companies with small market capitalizations.
"The significant growth of the Touchstone Small Cap Core Fund's assets is a testament to the success of the long-term, strategic investment approach applied by its portfolio management team," said Steven M. Graziano, President of Touchstone Investments. "Reflecting our commitment to shareholders, we decided to close the Fund to new investors to enhance The London Company's ability to continue delivering strong results. We are grateful to The London Company for the outstanding job it has done with this Fund."
TLC's portfolio management team, led by Stephen M. Goddard, CFA, evaluates potential investments using a methodology practiced by private-equity investors. TLC focuses on businesses which are financially stable, run by shareholder-friendly management teams and consistently generate high returns on unleveraged capital. In order to mitigate downside risk, the team invests in companies that trade at 30 percent to 40 percent below their private market values. Their concentrated, high-conviction portfolios generally consist of 30 to 40 companies.
Investors who are interested in another Touchstone Fund that utilizes TLC's strategy may want to consider the Touchstone Mid Cap Fund, which invests primarily in stocks of U.S. companies with medium market capitalizations. TLC was appointed as sub-advisor to the Touchstone Mid Cap Fund in December 2011. The Mid Cap strategy is an extension of the discipline TLC applies to managing Small and Small-Mid (SMID) Cap strategies.
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. While its sub-advisors are held to strict performance standards, they work with a large measure of independence and operate within their own demonstrated areas of expertise. Touchstone's rigorous asset manager evaluation process and robust oversight approach are designed to ensure delivery on Touchstone's commitment of achieving competitive long-term results. 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.
Please consider the investment objectives, risks, charges and expenses of a 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.
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 TouchstoneInvestments.com.
The London Company
Founded in 1994, the Richmond, Virginia-based company provides portfolio management services to a mix of corporations, trusts, foundations, endowments, pensions, banks, individuals, and mutual fund accounts. The firm's seasoned investment committee has 21 years average experience.
The London Company views equity ownership in the same pragmatic manner in which a conservative, rational businessman would, if he was buying the entire company. Its approach seeks to consistently outperform over full market cycles by looking beyond the "Street's" near term horizon with a long-term owner's mindset.
SOURCE Touchstone Investments