Summary

• The Touchstone Value Fund underperformed its benchmark, the Russell 1000 Value Index, for the quarter ended March 31, 2026.
• Vertiv Holdings Co. was a notable contributor, reflecting continued strong demand for data center infrastructure tied to AI and cloud adoption trends.
• Holdings in Energy, such as Halliburton Co. and Exxon Mobil Corp., benefited from rising commodity prices and favorable supply dynamics.
• Western Alliance Bancorporation lagged as macro uncertainty and interest rate concerns weighed on sentiment during the first quarter of 2026.
• The Touchstone Value Fund continues to exhibit below-market valuation multiples and above-average profitability and earnings growth potential.

Fund Highlights

• Employs a process that is focused on long-only, bottom-up value management

• Uses traditional methods of stock selection, research and analysis, to identify securities believed to be undervalued, and searches for companies that have price-to-earnings