EXPENSE LIMITATION AGREEMENT
TOUCHSTONE FUNDS GROUP TRUST
EXPENSE LIMITATION AGREEMENT, effective as of October 1, 2009 by and
between Touchstone Advisors, Inc. (the "Advisor") and Touchstone Funds Group
Trust (the "Trust"), on behalf of certain series of the Trust set forth in
Schedule A attached hereto (each a "Fund," and collectively, the "Funds").
WHEREAS, the Trust is a Delaware business trust organized under a
Declaration of Trust ("Declaration of Trust"), and is registered under the
Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end
management company of the series type, and each Fund is a series of the Trust;
and
WHEREAS, the Trust and the Advisor have entered into an Investment
Advisory Agreement dated February 17, 2006 (the "Advisory Agreement"), pursuant
to which the Advisor provides investment advisory and other management services
to each series of the Trust for compensation based on the value of the average
daily net assets of each series; and
WHEREAS, the Trust and the Advisor have determined that it is appropriate
and in the best interests of shareholders to maintain the expenses of the Funds,
and, therefore, have entered into this Expense Limitation Agreement (the
"Agreement"), in order to maintain the expense ratios of the Funds at the levels
specified in Schedule A attached hereto; and
NOW THEREFORE, the parties hereto agree that the Agreement provides as
follows:
1. Expense Limitation.
1.1 Applicable Expense Limit. To the extent that the aggregate expenses of
every character incurred by a Fund in any fiscal year, including but not limited
to advisory fees of the Advisor (but excluding interest, taxes, brokerage
commissions, dividend expenses on securities sold short, other expenditures
which are capitalized in accordance with generally accepted accounting
principles, other extraordinary expenses not incurred in the ordinary course of
such Fund's business, and amounts, if any, payable pursuant to a plan adopted in
accordance with Rule 12b-1 under the 1940 Act, if any) ("Fund Operating
Expenses"), exceed the Operating Expense Limit, as defined in Section 1.2 below,
such excess amount (the "Excess Amount") shall be the liability of the Advisor.
1.2 Operating Expense Limit. The maximum expense ratio in any year with
respect to a class of a Fund shall be the amount specified in Schedule A based
on a percentage of the average daily net assets of the Fund (the "Maximum
Operating Expense Limit"). The Maximum Operating Expense Limit reflects the
Operating Expense Limit for a class of the Fund, plus amounts, if any, payable
by such class of a Fund pursuant to a plan adopted in accordance with Rule 12b-1
under the 1940 Act.
1.3 Method of Computation. To determine the Advisor's liability with
respect to the Excess Amount, each month the Fund Operating Expenses for each
Fund shall be annualized as of the last day of the month. If, for any month, a
Fund's annualized Fund Operating Expenses exceed the Operating Expense Limit of
such Fund, the Advisor shall waive or reduce its advisory fee for such month by
an amount, or remit an amount to the appropriate Fund, sufficient to reduce the
annualized Fund Operating Expenses to an amount no higher than the Operating
Expense Limit; provided, however, that any waiver or reduction of the advisory
fee is applied equally across the classes, if any, of the Fund.
1.4 Year-End Adjustment. If necessary, on or before the last day of the
first month of each fiscal year, an adjustment payment shall be made by the
appropriate party in order that the amount of the advisory fees waived or
reduced and other payments remitted by the Advisor to the Fund or Funds with
respect to the previous fiscal year shall equal the Excess Amount.
2. Term and Termination of Agreement.
This Agreement shall continue in effect through the dates listed in
Schedule A, and from year to year thereafter provided each such continuance is
specifically approved by a majority of the Trustees of the Trust. This Agreement
shall terminate automatically upon the termination of the Investment Advisory
Agreement with respect to the applicable Fund.
3. Miscellaneous.
3.1 Captions. The captions in this Agreement are included for convenience
of reference only and in no other way define or delineate any of the provisions
hereof or otherwise affect their construction or effect.
3.2 Interpretation. Nothing herein contained shall be deemed to require
the Trust or the Funds to take any action contrary to the Trust's Declaration of
Trust or Bylaws, or any applicable statutory or regulatory requirement to which
it is subject or by which it is bound, or to relieve or deprive the Trust's
Board of Trustees of its responsibility for and control of the conduct of the
affairs of the Trust or the Funds.
3.3 Definitions. Any question of interpretation of any term or provision
of this Agreement, including but not limited to the advisory fee, the
computations of net asset values, and the allocation of expenses, having a
counterpart in or otherwise derived from the terms and provisions of the
Investment Advisory Agreement or the 1940 Act, shall have the same meaning as
and be resolved by reference to such Investment Advisory Agreement or the 1940
Act.
2
IN WITNESS WHEREOF, the parties have caused this Agreement to be signed by
their respective officers thereunto duly, as of the day and year first above
written.
TOUCHSTONE FUNDS GROUP TRUST
By:
------------------------------
Xxxx X. XxXxxxxx
President
TOUCHSTONE ADVISORS, INC.
By:
------------------------------
Xxxxxx X. Xxxxxxxx
President
3
SCHEDULE A
MAXIMUM OPERATING EXPENSE LIMITS
OCTOBER 1, 2009
--------------------------------------------------------------------------------
FUND LENGTH/TYPE OF MAXIMUM OPERATING EXPENSE
LIMITATION LIMITS
--------------------------------------------------------------------------------
Touchstone Mid Cap Fund Class A Contractual 1.15%
waiver through
1/31/2010
--------------------------------------------------------------------------------
Touchstone Mid Cap Fund Class C Contractual 1.90%
waiver through
1/31/2010
--------------------------------------------------------------------------------
Touchstone Mid Cap Fund Contractual 0.90%
Institutional Shares waiver through
1/31/2010
--------------------------------------------------------------------------------
Touchstone Mid Cap Fund Class Z Contractual 1.15%
waiver through
1/31/2010
--------------------------------------------------------------------------------
Touchstone Short Duration Fixed Contractual 0.74%
Income Fund Class Z waiver through
1/31/2010
--------------------------------------------------------------------------------
Touchstone Short Duration Fixed Contractual 0.49%
Income Fund Class Y waiver through
5/04/2010
--------------------------------------------------------------------------------
Touchstone Ultra Short Duration Contractual 0.69%
Fixed Income Fund Class Z waiver through
1/31/2010
--------------------------------------------------------------------------------
Touchstone Small Cap Value Contractual 1.50%
Opportunities Fund Class Z waiver through
1/31/2010
--------------------------------------------------------------------------------
Touchstone Healthcare and Contractual 1.55%
Biotechnology Fund Class A waiver through
1/31/2010
--------------------------------------------------------------------------------
Touchstone Healthcare and Contractual 2.30%
Biotechnology Fund Class C waiver through
1/31/2010
--------------------------------------------------------------------------------
Touchstone Intermediate Fixed Contractual 0.40%
Income Fund Institutional Shares waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Premium Yield Equity Contractual 1.20%
Fund Class A waiver through
1/31/2010
--------------------------------------------------------------------------------
Touchstone Premium Yield Equity Contractual 1.95%
Fund Class C waiver through
1/31/2010
--------------------------------------------------------------------------------
Touchstone Premium Yield Equity Contractual 0.95%
Fund Class Y waiver through
1/31/2010
--------------------------------------------------------------------------------
Touchstone International Growth Contractual 1.35%
Fund Class A waiver through
1/31/2010
--------------------------------------------------------------------------------
Touchstone International Growth Contractual 2.10%
Fund Class C waiver through
1/31/2010
--------------------------------------------------------------------------------
Touchstone International Growth Contractual 1.10%
Fund Class Y waiver through
1/31/2010
--------------------------------------------------------------------------------
Touchstone Capital Appreciation Contractual 1.19%
Fund Class A waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Capital Appreciation Contractual 1.94%
Fund Class C waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Capital Appreciation Contractual 0.94%
Fund Class Y waiver through
1/31/2011
--------------------------------------------------------------------------------
4
--------------------------------------------------------------------------------
Touchstone Capital Appreciation Contractual 0.79%
Fund Institutional Shares waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Mid Cap Value Fund Contractual 1.29%
Class A waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Mid Cap Value Fund Contractual 2.04%
Class C waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Mid Cap Value Fund Contractual 1.04%
Class Y waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Mid Cap Value Fund Contractual 0.89%
Institutional Shares waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Global Real Estate Contractual 1.39%
Fund Class A waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Global Real Estate Contractual 2.14%
Fund Class C waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Global Real Estate Contractual 1.14%
Fund Class Y waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Global Real Estate Contractual 0.99%
Fund Institutional Shares waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Large Cap Relative Contractual 1.19%
Value Fund Class A waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Large Cap Relative Contractual 1.94%
Value Fund Class C waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Large Cap Relative Contractual 0.94%
Value Fund Class Y waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Large Cap Relative Contractual 0.79%
Value Fund Institutional Shares waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Small Cap Core Fund Contractual 1.34%
Class A waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Small Cap Core Fund Contractual 2.09%
Class C waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Small Cap Core Fund Contractual 1.09%
Class Y waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Small Cap Core Fund Contractual 0.94%
Institutional Shares waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Global Equity Fund Contractual 1.34%
Class A waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Global Equity Fund Contractual 2.09%
Class C waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Global Equity Fund Contractual 1.09%
Class Y waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Global Equity Fund Contractual 0.94%
Institutional Shares waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Long/Short Equity Fund Contractual 1.75%
Class A waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Long/Short Equity Fund Contractual 2.50%
Class C waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Long/Short Equity Fund Contractual 1.50%
Class Y waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Core Plus Fixed Income Contractual 0.95%
Fund Class A waiver through
1/31/2011
--------------------------------------------------------------------------------
5
--------------------------------------------------------------------------------
Touchstone Core Plus Fixed Income Contractual 1.70%
Fund Class C waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Core Plus Fixed Income Contractual 0.70%
Fund Class Y waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Core Plus Fixed Income Contractual 0.50%
Fund Institutional Shares waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone International Fixed Contractual 1.09%
Income Fund Class A waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone International Fixed Contractual 1.84%
Income Fund Class C waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone International Fixed Contractual 0.84%
Income Fund Class Y waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone International Fixed Contractual 0.69%
Income Fund Institutional Shares waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 1.74%
Equity Fund Class A waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 2.49%
Equity Fund Class C waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 1.49%
Equity Fund Class Y waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 1.34%
Equity Fund Institutional Shares waiver through
1/31/2011
--------------------------------------------------------------------------------
6
SCHEDULE A
MAXIMUM OPERATING EXPENSE LIMITS
AMENDED DECEMBER 29, 2009
--------------------------------------------------------------------------------
FUND LENGTH/TYPE OF MAXIMUM OPERATING EXPENSE
LIMITATION LIMITS
--------------------------------------------------------------------------------
Touchstone Mid Cap Fund Class A Contractual 1.15%
waiver through
1/31/2010
--------------------------------------------------------------------------------
Touchstone Mid Cap Fund Class C Contractual 1.90%
waiver through
1/31/2010
--------------------------------------------------------------------------------
Touchstone Mid Cap Fund Contractual 0.90%
Institutional Shares waiver through
1/31/2010
--------------------------------------------------------------------------------
Touchstone Mid Cap Fund Class Z Contractual 1.15%
waiver through
1/31/2010
--------------------------------------------------------------------------------
Touchstone Short Duration Fixed Contractual 0.74%
Income Fund Class Z waiver through
1/31/2010
--------------------------------------------------------------------------------
Touchstone Short Duration Fixed Contractual 0.49%
Income Fund Class Y waiver through
5/04/2010
--------------------------------------------------------------------------------
Touchstone Ultra Short Duration Contractual 0.69%
Fixed Income Fund Class Z waiver through
1/31/2010
--------------------------------------------------------------------------------
Touchstone Small Cap Value Contractual 1.50%
Opportunities Fund Class Z waiver through
1/31/2010
--------------------------------------------------------------------------------
Touchstone Healthcare and Contractual 1.55%
Biotechnology Fund Class A waiver through
1/31/2010
--------------------------------------------------------------------------------
Touchstone Healthcare and Contractual 2.30%
Biotechnology Fund Class C waiver through
1/31/2010
--------------------------------------------------------------------------------
Touchstone Intermediate Fixed Contractual 0.40%
Income Fund Institutional Shares waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Premium Yield Equity Contractual 1.20%
Fund Class A waiver through
1/31/2010
--------------------------------------------------------------------------------
Touchstone Premium Yield Equity Contractual 1.95%
Fund Class C waiver through
1/31/2010
--------------------------------------------------------------------------------
Touchstone Premium Yield Equity Contractual 0.95%
Fund Class Y waiver through
1/31/2010
--------------------------------------------------------------------------------
Touchstone International Growth Contractual 1.35%
Fund Class A waiver through
1/31/2010
--------------------------------------------------------------------------------
Touchstone International Growth Contractual 2.10%
Fund Class C waiver through
1/31/2010
--------------------------------------------------------------------------------
Touchstone International Growth Contractual 1.10%
Fund Class Y waiver through
1/31/2010
--------------------------------------------------------------------------------
Touchstone Capital Appreciation Contractual 1.19%
Fund Class A waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Capital Appreciation Contractual 1.94%
Fund Class C waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Capital Appreciation Contractual 0.94%
Fund Class Y waiver through
1/31/2011
--------------------------------------------------------------------------------
7
--------------------------------------------------------------------------------
Touchstone Capital Appreciation Contractual 0.79%
Fund Institutional Shares waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Mid Cap Value Fund Contractual 1.29%
Class A waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Mid Cap Value Fund Contractual 2.04%
Class C waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Mid Cap Value Fund Contractual 1.04%
Class Y waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Mid Cap Value Fund Contractual 0.89%
Institutional Shares waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Global Real Estate Contractual 1.39%
Fund Class A waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Global Real Estate Contractual 2.14%
Fund Class C waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Global Real Estate Contractual 1.14%
Fund Class Y waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Global Real Estate Contractual 0.99%
Fund Institutional Shares waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Large Cap Relative Contractual 1.19%
Value Fund Class A waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Large Cap Relative Contractual 1.94%
Value Fund Class C waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Large Cap Relative Contractual 0.94%
Value Fund Class Y waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Large Cap Relative Contractual 0.79%
Value Fund Institutional Shares waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Small Cap Core Fund Contractual 1.34%
Class A waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Small Cap Core Fund Contractual 2.09%
Class C waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Small Cap Core Fund Contractual 1.09%
Class Y waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Small Cap Core Fund Contractual 0.94%
Institutional Shares waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Global Equity Fund Contractual 1.34%
Class A waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Global Equity Fund Contractual 2.09%
Class C waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Global Equity Fund Contractual 1.09%
Class Y waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Global Equity Fund Contractual 0.94%
Institutional Shares waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Long/Short Equity Fund Contractual 1.75%
Class A waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Long/Short Equity Fund Contractual 2.50%
Class C waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Long/Short Equity Fund Contractual 1.50%
Class Y waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Core Plus Fixed Income Contractual 0.95%
Fund Class A waiver through
1/31/2011
--------------------------------------------------------------------------------
8
--------------------------------------------------------------------------------
Touchstone Core Plus Fixed Income Contractual 1.70%
Fund Class C waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Core Plus Fixed Income Contractual 0.70%
Fund Class Y waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Core Plus Fixed Income Contractual 0.50%
Fund Institutional Shares waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone International Fixed Contractual 1.09%
Income Fund Class A waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone International Fixed Contractual 1.84%
Income Fund Class C waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone International Fixed Contractual 0.84%
Income Fund Class Y waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone International Fixed Contractual 0.69%
Income Fund Institutional Shares waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 1.74%
Equity Fund Class A waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 2.49%
Equity Fund Class C waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 1.49%
Equity Fund Class Y waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 1.34%
Equity Fund Institutional Shares waiver through
1/31/2011
--------------------------------------------------------------------------------
Touchstone Focused Equity Fund Contractual 1.20%
Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Focused Equity Fund Contractual 1.95%
Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Focused Equity Fund Contractual 0.95%
Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Focused Equity Fund Contractual 0.80%
Institutional Shares waiver through
1/27/2011
--------------------------------------------------------------------------------
9
SCHEDULE A
MAXIMUM OPERATING EXPENSE LIMITS
AMENDED JANUARY 28, 2010
--------------------------------------------------------------------------------
FUND LENGTH/TYPE OF MAXIMUM OPERATING EXPENSE
LIMITATION LIMITS
--------------------------------------------------------------------------------
Touchstone Mid Cap Fund Class A Contractual 1.21%
waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Mid Cap Fund Class C Contractual 1.96%
waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Mid Cap Fund Class Y Contractual 0.96%
waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Mid Cap Fund Class Z Contractual 1.21%
waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Short Duration Fixed Contractual 0.74%
Income Fund Class Z waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Short Duration Fixed Contractual 0.49%
Income Fund Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Ultra Short Duration Contractual 0.69%
Fixed Income Fund Class Z waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Small Cap Value Contractual 1.50%
Opportunities Fund Class Z waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Healthcare and Contractual 1.55%
Biotechnology Fund Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Healthcare and Contractual 2.30%
Biotechnology Fund Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Intermediate Fixed Contractual 0.40%
Income Fund Institutional Shares waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Premium Yield Equity Contractual 1.20%
Fund Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Premium Yield Equity Contractual 1.95%
Fund Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Premium Yield Equity Contractual 0.95%
Fund Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone International Growth Contractual 1.35%
Fund Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone International Growth Contractual 2.10%
Fund Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone International Growth Contractual 1.10%
Fund Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Capital Appreciation Contractual 1.19%
Fund Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Capital Appreciation Contractual 1.94%
Fund Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Capital Appreciation Contractual 0.94%
Fund Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
10
--------------------------------------------------------------------------------
Touchstone Capital Appreciation Contractual 0.79%
Fund Institutional Shares waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Mid Cap Value Fund Contractual 1.29%
Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Mid Cap Value Fund Contractual 2.04%
Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Mid Cap Value Fund Contractual 1.04%
Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Mid Cap Value Fund Contractual 0.89%
Institutional Shares waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Global Real Estate Contractual 1.39%
Fund Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Global Real Estate Contractual 2.14%
Fund Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Global Real Estate Contractual 1.14%
Fund Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Global Real Estate Contractual 0.99%
Fund Institutional Shares waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Large Cap Relative Contractual 1.19%
Value Fund Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Large Cap Relative Contractual 1.94%
Value Fund Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Large Cap Relative Contractual 0.94%
Value Fund Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Large Cap Relative Contractual 0.79%
Value Fund Institutional Shares waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Small Cap Core Fund Contractual 1.34%
Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Small Cap Core Fund Contractual 2.09%
Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Small Cap Core Fund Contractual 1.09%
Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Small Cap Core Fund Contractual 0.94%
Institutional Shares waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Global Equity Fund Contractual 1.34%
Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Global Equity Fund Contractual 2.09%
Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Global Equity Fund Contractual 1.09%
Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Global Equity Fund Contractual 0.94%
Institutional Shares waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Long/Short Equity Fund Contractual 1.75%
Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Long/Short Equity Fund Contractual 2.50%
Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Long/Short Equity Fund Contractual 1.50%
Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Core Plus Fixed Income Contractual 0.95%
Fund Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
11
--------------------------------------------------------------------------------
Touchstone Core Plus Fixed Income Contractual 1.70%
Fund Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Core Plus Fixed Income Contractual 0.70%
Fund Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Core Plus Fixed Income Contractual 0.50%
Fund Institutional Shares waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone International Fixed Contractual 1.09%
Income Fund Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone International Fixed Contractual 1.84%
Income Fund Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone International Fixed Contractual 0.84%
Income Fund Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone International Fixed Contractual 0.69%
Income Fund Institutional Shares waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 1.74%
Equity Fund Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 2.49%
Equity Fund Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 1.49%
Equity Fund Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 1.34%
Equity Fund Institutional Shares waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Focused Equity Fund Contractual 1.20%
Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Focused Equity Fund Contractual 1.95%
Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Focused Equity Fund Contractual 0.95%
Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Focused Equity Fund Contractual 0.80%
Institutional Shares waiver through
1/27/2011
--------------------------------------------------------------------------------
12
SCHEDULE A
MAXIMUM OPERATING EXPENSE LIMITS
AMENDED APRIL 1, 2010
--------------------------------------------------------------------------------
FUND LENGTH/TYPE OF MAXIMUM OPERATING EXPENSE
LIMITATION LIMITS
--------------------------------------------------------------------------------
Touchstone Mid Cap Fund Class A Contractual 1.21%
waiver through
1/27/2011
-------------------------------------------------------------------------------
Touchstone Mid Cap Fund Class C Contractual 1.96%
waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Mid Cap Fund Class Y Contractual 0.96%
waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Mid Cap Fund Class Z Contractual 1.21%
waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Short Duration Fixed Contractual 0.74%
Income Fund Class Z waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Short Duration Fixed Contractual 0.49%
Income Fund Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Ultra Short Duration Contractual 0.69%
Fixed Income Fund Class Z waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Small Cap Value Contractual 1.50%
Opportunities Fund Class Z waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Healthcare and Contractual 1.55%
Biotechnology Fund Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Healthcare and Contractual 2.30%
Biotechnology Fund Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Intermediate Fixed Contractual 0.40%
Income Fund Institutional Shares waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Premium Yield Equity Contractual 1.20%
Fund Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Premium Yield Equity Contractual 1.95%
Fund Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Premium Yield Equity Contractual 0.95%
Fund Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone International Growth Contractual 1.35%
Fund Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone International Growth Contractual 2.10%
Fund Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone International Growth Contractual 1.10%
Fund Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Capital Appreciation Contractual 1.19%
Fund Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Capital Appreciation Contractual 1.94%
Fund Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Capital Appreciation Contractual 0.94%
Fund Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
13
--------------------------------------------------------------------------------
Touchstone Capital Appreciation Contractual 0.79%
Fund Institutional Shares waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Mid Cap Value Fund Contractual 1.29%
Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Mid Cap Value Fund Contractual 2.04%
Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Mid Cap Value Fund Contractual 1.04%
Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Mid Cap Value Fund Contractual 0.89%
Institutional Shares waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Global Real Estate Contractual 1.39%
Fund Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Global Real Estate Contractual 2.14%
Fund Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Global Real Estate Contractual 1.14%
Fund Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Global Real Estate Contractual 0.99%
Fund Institutional Shares waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Large Cap Relative Contractual 1.19%
Value Fund Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Large Cap Relative Contractual 1.94%
Value Fund Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Large Cap Relative Contractual 0.94%
Value Fund Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Large Cap Relative Contractual 0.79%
Value Fund Institutional Shares waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Small Cap Core Fund Contractual 1.34%
Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Small Cap Core Fund Contractual 2.09%
Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Small Cap Core Fund Contractual 1.09%
Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Small Cap Core Fund Contractual 0.94%
Institutional Shares waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Global Equity Fund Contractual 1.34%
Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Global Equity Fund Contractual 2.09%
Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Global Equity Fund Contractual 1.09%
Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Global Equity Fund Contractual 0.94%
Institutional Shares waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Market Neutral Equity Contractual 1.50%
Fund Class A waiver through
4/1/2011
--------------------------------------------------------------------------------
Touchstone Market Neutral Equity Contractual 2.25%
Fund Class C waiver through
4/1/2011
--------------------------------------------------------------------------------
Touchstone Market Neutral Equity Contractual 1.25%
Fund Class Y waiver through
4/1/2011
--------------------------------------------------------------------------------
Touchstone Core Plus Fixed Income Contractual 0.95%
Fund Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
14
--------------------------------------------------------------------------------
Touchstone Core Plus Fixed Income Contractual 1.70%
Fund Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Core Plus Fixed Income Contractual 0.70%
Fund Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Core Plus Fixed Income Contractual 0.50%
Fund Institutional Shares waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone International Fixed Contractual 1.09%
Income Fund Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone International Fixed Contractual 1.84%
Income Fund Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone International Fixed Contractual 0.84%
Income Fund Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone International Fixed Contractual 0.69%
Income Fund Institutional Shares waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 1.74%
Equity Fund Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 2.49%
Equity Fund Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 1.49%
Equity Fund Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 1.34%
Equity Fund Institutional Shares waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Focused Equity Fund Contractual 1.20%
Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Focused Equity Fund Contractual 1.95%
Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Focused Equity Fund Contractual 0.95%
Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Focused Equity Fund Contractual 0.80%
Institutional Shares waiver through
1/27/2011
--------------------------------------------------------------------------------
15
SCHEDULE A
MAXIMUM OPERATING EXPENSE LIMITS
AMENDED SEPTEMBER 27, 2010
--------------------------------------------------------------------------------
FUND LENGTH/TYPE OF MAXIMUM OPERATING EXPENSE
LIMITATION LIMITS
--------------------------------------------------------------------------------
Touchstone Mid Cap Fund Class A Contractual 1.21%
waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Mid Cap Fund Class C Contractual 1.96%
waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Mid Cap Fund Class Y Contractual 0.96%
waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Mid Cap Fund Class Z Contractual 1.21%
waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Short Duration Fixed Contractual 0.74%
Income Fund Class Z waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Short Duration Fixed Contractual 0.49%
Income Fund Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Ultra Short Duration Contractual 0.69%
Fixed Income Fund Class Z waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Small Cap Value Contractual 1.50%
Opportunities Fund Class Z waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Healthcare and Contractual 1.55%
Biotechnology Fund Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Healthcare and Contractual 2.30%
Biotechnology Fund Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Intermediate Fixed Contractual 0.40%
Income Fund Institutional Shares waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Premium Yield Equity Contractual 1.20%
Fund Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Premium Yield Equity Contractual 1.95%
Fund Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Premium Yield Equity Contractual 0.95%
Fund Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Capital Appreciation Contractual 1.19%
Fund Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Capital Appreciation Contractual 1.94%
Fund Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Capital Appreciation Contractual 0.94%
Fund Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Capital Appreciation Contractual 0.79%
Fund Institutional Shares waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Mid Cap Value Fund Contractual 1.29%
Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Mid Cap Value Fund Contractual 2.04%
Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Mid Cap Value Fund Contractual 1.04%
Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
16
--------------------------------------------------------------------------------
Touchstone Mid Cap Value Fund Contractual 0.89%
Institutional Shares waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Global Real Estate Contractual 1.39%
Fund Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Global Real Estate Contractual 2.14%
Fund Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Global Real Estate Contractual 1.14%
Fund Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Global Real Estate Contractual 0.99%
Fund Institutional Shares waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Large Cap Relative Contractual 1.19%
Value Fund Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Large Cap Relative Contractual 1.94%
Value Fund Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Large Cap Relative Contractual 0.94%
Value Fund Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Large Cap Relative Contractual 0.79%
Value Fund Institutional Shares waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Small Cap Core Fund Contractual 1.34%
Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Small Cap Core Fund Contractual 2.09%
Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Small Cap Core Fund Contractual 1.09%
Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Small Cap Core Fund Contractual 0.94%
Institutional Shares waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Global Equity Fund Contractual 1.34%
Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Global Equity Fund Contractual 2.09%
Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Global Equity Fund Contractual 1.09%
Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Global Equity Fund Contractual 0.94%
Institutional Shares waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Market Neutral Equity Contractual 1.50%
Fund Class A waiver through
4/1/2011
--------------------------------------------------------------------------------
Touchstone Market Neutral Equity Contractual 2.25%
Fund Class C waiver through
4/1/2011
--------------------------------------------------------------------------------
Touchstone Market Neutral Equity Contractual 1.25%
Fund Class Y waiver through
4/1/2011
--------------------------------------------------------------------------------
Touchstone Core Plus Fixed Income Contractual 0.95%
Fund Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Core Plus Fixed Income Contractual 1.70%
Fund Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Core Plus Fixed Income Contractual 0.70%
Fund Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Core Plus Fixed Income Contractual 0.50%
Fund Institutional Shares waiver through
1/27/2011
--------------------------------------------------------------------------------
17
--------------------------------------------------------------------------------
Touchstone International Fixed Contractual 1.09%
Income Fund Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone International Fixed Contractual 1.84%
Income Fund Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone International Fixed Contractual 0.84%
Income Fund Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone International Fixed Contractual 0.69%
Income Fund Institutional Shares waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 1.74%
Equity Fund Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 2.49%
Equity Fund Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 1.49%
Equity Fund Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 1.34%
Equity Fund Institutional Shares waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Focused Equity Fund Contractual 1.20%
Class A waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Focused Equity Fund Contractual 1.95%
Class C waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Focused Equity Fund Contractual 0.95%
Class Y waiver through
1/27/2011
--------------------------------------------------------------------------------
Touchstone Focused Equity Fund Contractual 0.80%
Institutional Shares waiver through
1/27/2011
--------------------------------------------------------------------------------
18
SCHEDULE A
MAXIMUM OPERATING EXPENSE LIMITS
AMENDED JANUARY 28, 2011
--------------------------------------------------------------------------------
FUND LENGTH/TYPE OF MAXIMUM OPERATING EXPENSE
LIMITATION LIMITS
--------------------------------------------------------------------------------
Touchstone Mid Cap Fund Class A Contractual 1.21%
waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Mid Cap Fund Class C Contractual 1.96%
waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Mid Cap Fund Class Y Contractual 0.96%
waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Mid Cap Fund Class Z Contractual 1.21%
waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Short Duration Fixed Contractual 0.74%
Income Fund Class Z waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Short Duration Fixed Contractual 0.49%
Income Fund Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Ultra Short Duration Contractual 0.69%
Fixed Income Fund Class Z waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Small Cap Value Fund Contractual 1.50%
Class Z waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Small Cap Value Fund Contractual 1.43%
Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Small Cap Value Fund Contractual 2.18%
Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Small Cap Value Fund Contractual 1.18%
Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Small Cap Value Fund Contractual 1.03%
Institutional Shares waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Healthcare and Contractual 1.55%
Biotechnology Fund Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Healthcare and Contractual 2.30%
Biotechnology Fund Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Intermediate Fixed Contractual 0.40%
Income Fund Institutional Shares waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Premium Yield Equity Contractual 1.20%
Fund Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Premium Yield Equity Contractual 1.95%
Fund Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Premium Yield Equity Contractual 0.95%
Fund Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Capital Appreciation Contractual 1.19%
Fund Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Capital Appreciation Contractual 1.94%
Fund Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
19
--------------------------------------------------------------------------------
Touchstone Capital Appreciation Contractual 0.94%
Fund Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Capital Appreciation Contractual 0.79%
Fund Institutional Shares waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Mid Cap Value Fund Contractual 1.29%
Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Mid Cap Value Fund Contractual 2.04%
Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Mid Cap Value Fund Contractual 1.04%
Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Mid Cap Value Fund Contractual 0.89%
Institutional Shares waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Global Real Estate Contractual 1.39%
Fund Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Global Real Estate Contractual 2.14%
Fund Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Global Real Estate Contractual 1.14%
Fund Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Global Real Estate Contractual 0.99%
Fund Institutional Shares waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Large Cap Relative Contractual 1.19%
Value Fund Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Large Cap Relative Contractual 1.94%
Value Fund Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Large Cap Relative Contractual 0.94%
Value Fund Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Large Cap Relative Contractual 0.79%
Value Fund Institutional Shares waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Small Cap Core Fund Contractual 1.34%
Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Small Cap Core Fund Contractual 2.09%
Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Small Cap Core Fund Contractual 1.09%
Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Small Cap Core Fund Contractual 0.94%
Institutional Shares waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Global Equity Fund Contractual 1.34%
Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Global Equity Fund Contractual 2.09%
Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Global Equity Fund Contractual 1.09%
Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Global Equity Fund Contractual 0.94%
Institutional Shares waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Market Neutral Equity Contractual 1.50%
Fund Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Market Neutral Equity Contractual 2.25%
Fund Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Market Neutral Equity Contractual 1.25%
Fund Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
20
--------------------------------------------------------------------------------
Touchstone Core Plus Fixed Income Contractual 0.95%
Fund Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Core Plus Fixed Income Contractual 1.70%
Fund Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Core Plus Fixed Income Contractual 0.70%
Fund Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Core Plus Fixed Income Contractual 0.50%
Fund Institutional Shares waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone International Fixed Contractual 1.09%
Income Fund Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone International Fixed Contractual 1.84%
Income Fund Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone International Fixed Contractual 0.84%
Income Fund Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone International Fixed Contractual 0.69%
Income Fund Institutional Shares waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 1.74%
Equity Fund Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 2.49%
Equity Fund Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 1.49%
Equity Fund Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 1.34%
Equity Fund Institutional Shares waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Focused Equity Fund Contractual 1.20%
Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Focused Equity Fund Contractual 1.95%
Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Focused Equity Fund Contractual 0.95%
Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Focused Equity Fund Contractual 0.80%
Institutional Shares waiver through
1/27/2012
--------------------------------------------------------------------------------
21
SCHEDULE A
MAXIMUM OPERATING EXPENSE LIMITS
AMENDED APRIL 18, 2011
--------------------------------------------------------------------------------
FUND LENGTH/TYPE OF MAXIMUM OPERATING EXPENSE
LIMITATION LIMITS
--------------------------------------------------------------------------------
Touchstone Mid Cap Fund Class A Contractual 1.21%
waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Mid Cap Fund Class C Contractual 1.96%
waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Mid Cap Fund Class Y Contractual 0.96%
waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Mid Cap Fund Class Z Contractual 1.21%
waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Short Duration Fixed Contractual 0.74%
Income Fund Class Z waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Short Duration Fixed Contractual 0.49%
Income Fund Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Ultra Short Duration Contractual 0.69%
Fixed Income Fund Class Z waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Small Cap Value Fund Contractual 1.50%
Class Z waiver through
1/27/2013
--------------------------------------------------------------------------------
Touchstone Small Cap Value Fund Contractual 1.43%
Class A waiver through
1/27/2013
--------------------------------------------------------------------------------
Touchstone Small Cap Value Fund Contractual 2.18%
Class C waiver through
1/27/2013
--------------------------------------------------------------------------------
Touchstone Small Cap Value Fund Contractual 1.18%
Class Y waiver through
1/27/2013
--------------------------------------------------------------------------------
Touchstone Small Cap Value Fund Contractual 1.03%
Institutional Shares waiver through
1/27/2013
--------------------------------------------------------------------------------
Touchstone Healthcare and Contractual 1.55%
Biotechnology Fund Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Healthcare and Contractual 2.30%
Biotechnology Fund Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Intermediate Fixed Contractual 0.40%
Income Fund Institutional Shares waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Premium Yield Equity Contractual 1.20%
Fund Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Premium Yield Equity Contractual 1.95%
Fund Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Premium Yield Equity Contractual 0.95%
Fund Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Capital Appreciation Contractual 1.19%
Fund Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Capital Appreciation Contractual 1.94%
Fund Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
22
--------------------------------------------------------------------------------
Touchstone Capital Appreciation Contractual 0.94%
Fund Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Capital Appreciation Contractual 0.79%
Fund Institutional Shares waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Mid Cap Value Fund Contractual 1.29%
Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Mid Cap Value Fund Contractual 2.04%
Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Mid Cap Value Fund Contractual 1.04%
Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Mid Cap Value Fund Contractual 0.89%
Institutional Shares waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Global Real Estate Contractual 1.39%
Fund Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Global Real Estate Contractual 2.14%
Fund Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Global Real Estate Contractual 1.14%
Fund Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Global Real Estate Contractual 0.99%
Fund Institutional Shares waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Large Cap Relative Contractual 1.19%
Value Fund Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Large Cap Relative Contractual 1.94%
Value Fund Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Large Cap Relative Contractual 0.94%
Value Fund Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Large Cap Relative Contractual 0.79%
Value Fund Institutional Shares waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Small Cap Core Fund Contractual 1.34%
Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Small Cap Core Fund Contractual 2.09%
Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Small Cap Core Fund Contractual 1.09%
Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Small Cap Core Fund Contractual 0.94%
Institutional Shares waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Global Equity Fund Contractual 1.34%
Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Global Equity Fund Contractual 2.09%
Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Global Equity Fund Contractual 1.09%
Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Global Equity Fund Contractual 0.94%
Institutional Shares waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Market Neutral Equity Contractual 1.50%
Fund Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Market Neutral Equity Contractual 2.25%
Fund Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Market Neutral Equity Contractual 1.25%
Fund Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
23
--------------------------------------------------------------------------------
Touchstone Core Plus Fixed Income Contractual 0.95%
Fund Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Core Plus Fixed Income Contractual 1.70%
Fund Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Core Plus Fixed Income Contractual 0.70%
Fund Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Core Plus Fixed Income Contractual 0.50%
Fund Institutional Shares waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone International Fixed Contractual 1.09%
Income Fund Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone International Fixed Contractual 1.84%
Income Fund Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone International Fixed Contractual 0.84%
Income Fund Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone International Fixed Contractual 0.69%
Income Fund Institutional Shares waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 1.74%
Equity Fund Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 2.49%
Equity Fund Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 1.49%
Equity Fund Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 1.34%
Equity Fund Institutional Shares waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Focused Equity Fund Contractual 1.20%
Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Focused Equity Fund Contractual 1.95%
Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Focused Equity Fund Contractual 0.95%
Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Focused Equity Fund Contractual 0.80%
Institutional Shares waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 1.74%
Equity Fund II Class A waiver through
4/30/2012
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 2.49%
Equity Fund II Class C waiver through
4/30/2012
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 1.49%
Equity Fund II Class Y waiver through
4/30/2012
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 1.34%
Equity Fund II Institutional waiver through
Shares 4/30/2012
--------------------------------------------------------------------------------
24
SCHEDULE A
MAXIMUM OPERATING EXPENSE LIMITS
AMENDED APRIL 19, 2011
--------------------------------------------------------------------------------
FUND LENGTH/TYPE OF MAXIMUM OPERATING EXPENSE
LIMITATION LIMITS
--------------------------------------------------------------------------------
Touchstone Mid Cap Fund Class A Contractual 1.21%
waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Mid Cap Fund Class C Contractual 1.96%
waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Mid Cap Fund Class Y Contractual 0.96%
waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Mid Cap Fund Class Z Contractual 1.21%
waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Short Duration Fixed Contractual 0.74%
Income Fund Class Z waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Short Duration Fixed Contractual 0.49%
Income Fund Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Ultra Short Duration Contractual 0.69%
Fixed Income Fund Class Z waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Small Cap Value Fund Contractual 1.50%
Class Z waiver through
1/27/2013
--------------------------------------------------------------------------------
Touchstone Small Cap Value Fund Contractual 1.43%
Class A waiver through
1/27/2013
--------------------------------------------------------------------------------
Touchstone Small Cap Value Fund Contractual 2.18%
Class C waiver through
1/27/2013
--------------------------------------------------------------------------------
Touchstone Small Cap Value Fund Contractual 1.18%
Class Y waiver through
1/27/2013
--------------------------------------------------------------------------------
Touchstone Small Cap Value Fund Contractual 1.03%
Institutional Shares waiver through
1/27/2013
--------------------------------------------------------------------------------
Touchstone Healthcare and Contractual 1.55%
Biotechnology Fund Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Healthcare and Contractual 2.30%
Biotechnology Fund Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Intermediate Fixed Contractual 0.40%
Income Fund Institutional Shares waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Premium Yield Equity Contractual 1.20%
Fund Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Premium Yield Equity Contractual 1.95%
Fund Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Premium Yield Equity Contractual 0.95%
Fund Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Capital Appreciation Contractual 1.19%
Fund Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Capital Appreciation Contractual 1.94%
Fund Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
25
--------------------------------------------------------------------------------
Touchstone Capital Appreciation Contractual 0.94%
Fund Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Capital Appreciation Contractual 0.79%
Fund Institutional Shares waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Mid Cap Value Fund Contractual 1.29%
Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Mid Cap Value Fund Contractual 2.04%
Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Mid Cap Value Fund Contractual 1.04%
Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Mid Cap Value Fund Contractual 0.89%
Institutional Shares waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Global Real Estate Contractual 1.39%
Fund Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Global Real Estate Contractual 2.14%
Fund Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Global Real Estate Contractual 1.14%
Fund Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Global Real Estate Contractual 0.99%
Fund Institutional Shares waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Large Cap Relative Contractual 1.19%
Value Fund Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Large Cap Relative Contractual 1.94%
Value Fund Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Large Cap Relative Contractual 0.94%
Value Fund Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Large Cap Relative Contractual 0.79%
Value Fund Institutional Shares waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Small Cap Core Fund Contractual 1.34%
Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Small Cap Core Fund Contractual 2.09%
Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Small Cap Core Fund Contractual 1.09%
Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Small Cap Core Fund Contractual 0.94%
Institutional Shares waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Global Equity Fund Contractual 1.34%
Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Global Equity Fund Contractual 2.09%
Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Global Equity Fund Contractual 1.09%
Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Global Equity Fund Contractual 0.94%
Institutional Shares waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Market Neutral Equity Contractual 1.50%
Fund Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Market Neutral Equity Contractual 2.25%
Fund Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Market Neutral Equity Contractual 1.25%
Fund Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
26
--------------------------------------------------------------------------------
Touchstone Total Return Bond Fund Contractual 0.90%
Class A waiver through
1/27/2013
--------------------------------------------------------------------------------
Touchstone Total Return Bond Fund Contractual 1.65%
Class C waiver through
1/27/2013
--------------------------------------------------------------------------------
Touchstone Total Return Bond Fund Contractual 0.65%
Class Y waiver through
1/27/2013
--------------------------------------------------------------------------------
Touchstone Total Return Bond Fund Contractual 0.50%
Institutional Shares waiver through
1/27/2013
--------------------------------------------------------------------------------
Touchstone International Fixed Contractual 1.09%
Income Fund Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone International Fixed Contractual 1.84%
Income Fund Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone International Fixed Contractual 0.84%
Income Fund Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone International Fixed Contractual 0.69%
Income Fund Institutional Shares waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 1.74%
Equity Fund Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 2.49%
Equity Fund Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 1.49%
Equity Fund Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 1.34%
Equity Fund Institutional Shares waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Focused Equity Fund Contractual 1.20%
Class A waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Focused Equity Fund Contractual 1.95%
Class C waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Focused Equity Fund Contractual 0.95%
Class Y waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Focused Equity Fund Contractual 0.80%
Institutional Shares waiver through
1/27/2012
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 1.74%
Equity Fund II Class A waiver through
4/30/2012
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 2.49%
Equity Fund II Class C waiver through
4/30/2012
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 1.49%
Equity Fund II Class Y waiver through
4/30/2012
--------------------------------------------------------------------------------
Touchstone Emerging Markets Contractual 1.34%
Equity Fund II Institutional waiver through
Shares 4/30/2012
--------------------------------------------------------------------------------
27
