Summary

• The Touchstone Strategic Income Fund underperformed its benchmark, the Bloomberg U.S. Aggregate Bond Index, for the quarter ended March 31, 2026.
• Security selection was a positive contributor to relative performance, led by strong results across corporates, securitized assets, and emerging markets.
• Within corporates, an overweight to Energy, particularly Midstream, was the primary contributor to the Touchstone Strategic Income Fund's returns.
• Sector allocation modestly detracted from performance, primarily due to an overweight to high yield corporates as credit spreads widened.
• The Touchstone Strategic Income Fund is currently targeting a 5.50–5.75 year duration range with a bias toward longer real yields.

Fund Highlights

• Primarily invests in income producing securities including corporate debt securities, mortgage-related securities, asset backed securities, government securities ((both U.S. government securities and foreign sovereign debt)), public equities and preferred stocks

• Invests at least 50% of