# EDGAR Filing Document

**Accession Number:** 0000914243
**File Stem:** 0001193125-26-026277
**Filing Date:** 2026-1
**Character Count:** 34652
**Document Hash:** 2aef66f318b45a693f7dd4a7f300a311
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-026277.hdr.sgml**: 20260128

**ACCESSION NUMBER**: 0001193125-26-026277

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20260128

**DATE AS OF CHANGE**: 20260128

**EFFECTIVENESS DATE**: 20260128

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TOUCHSTONE FUNDS GROUP TRUST
- **CENTRAL INDEX KEY:** 0000914243

**ORGANIZATION NAME:**
- **EIN:** 680325521
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-70958
- **FILM NUMBER:** 26569074

**BUSINESS ADDRESS:**
- **STREET 1:** 303 BROADWAY
- **STREET 2:** SUITE 1100
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45202
- **BUSINESS PHONE:** 5133628000

**MAIL ADDRESS:**
- **STREET 1:** 303 BROADWAY
- **STREET 2:** SUITE 1100
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CONSTELLATION FUNDS
- **DATE OF NAME CHANGE:** 20040412

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ALPHA SELECT FUNDS
- **DATE OF NAME CHANGE:** 19981216

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TIP INSTITUTIONAL FUNDS
- **DATE OF NAME CHANGE:** 19971205

## Series and Classes Contracts Data

### TOUCHSTONE SANDS CAPITAL INTERNATIONAL GROWTH EQUITY FUND (Series ID: S000019681)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000055086 | CLASS A             | TPYAX           |
| C000055087 | CLASS C             | TPYCX           |
| C000067757 | Class Y             | TPYYX           |
| C000214318 | Institutional Class | TPYIX           |
| C000244703 | Class R6            | TPYRX           |

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

![](g586521touchstone_smblk.gif)

Summary Prospectus

Touchstone Sands Capital International Growth Equity FundJanuary 28, 2026

**Class A Ticker: TPYAX Class C Ticker: TPYCX**

**Class Y Ticker: TPYYX Institutional Class Ticker: TPYIX Class R6 Ticker: TPYRX**

Before you invest, you may want to review the Fund's prospectus, which contains information about the Fund and its risks. The Fund's prospectus and Statement of Additional Information, both dated January 28, 2026, as amended from time to time, are incorporated by reference into this summary prospectus. For free paper or electronic copies of the Fund's prospectus and other information about the Fund, go to TouchstoneInvestments.com/Resources, call 1.800.543.0407, or ask any financial adviser, bank, or broker-dealer who offers shares of the Fund.

**Touchstone Sands Capital International Growth Equity Fund Summary**

**<u>The Fund's Investment Goal</u>**

The Touchstone Sands Capital International Growth Equity Fund (the "Fund") seeks long-term capital appreciation.

**<u>The Fund's Fees and Expenses</u>**

This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. **You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.** You may qualify for sales charge discounts for Class A shares of Touchstone equity funds and Touchstone fixed income funds if you and your family invest, or agree to invest in the future, at least $25,000 or $50,000, respectively, in Touchstone funds. More information about these and other discounts is available from your financial professional, in the section titled "Choosing a Class of Shares" in the Fund's prospectus and Statement of Additional Information on pages 96 and 97, respectively, and in *Appendix A–Intermediary-Specific Sales Charge Waivers and Discounts* to the Fund's prospectus. **An investor transacting in Class R6 shares, which do not have any front-end sales charge, contingent deferred sales charge, or other asset-based fee for sales or distribution, may be required to pay a commission to a broker for effecting such transactions on an agency basis. Such commissions are not reflected in the table or in the "Example" below.** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class A** | **Class C** | **Class Y** | **Institutional** <br> **Class**<br>| **Class R6** |
| **Shareholder Fees (fees paid directly from your investment)** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Maximum Sales Charge (Load) Imposed on Purchases (as a <br> percentage of offering price)<br>| 5.00% |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Maximum Deferred Sales Charge (Load) (as a percentage of original <br> purchase price or the amount redeemed, whichever is less)<br>|  | 1.00% |  |  |  |
| Wire Redemption Fee | $15 | $15 | $15 | $15 | $15 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Annual Fund Operating Expenses (expenses that you pay each** <br> **year as a percentage of the value of your investment)**<br>|  |  |  |  |  |
| Management Fees | 0.65% | 0.65% | 0.65% | 0.65% | 0.65% |
| Distribution and/or Shareholder Service (12b-1) Fees | 0.25% | 1.00% |  |  |  |
| Other Expenses | 0.57% | 1.61% | 0.46% | 0.71% | 0.35% |
| Acquired Fund Fees and Expenses (AFFE) | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% |
| Total Annual Fund Operating Expenses<sup>(1)</sup> <br>| 1.48% | 3.27% | 1.12% | 1.37% | 1.01% |

---

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Touchstone Sands Capital International Growth Equity FundJanuary 28, 2026

---

| | | | |
|:---|:---|:---|:---|
| Fee Waiver and/or Expense Reimbursement<sup>(2)</sup> <br>| (0.30)% | (0.21)% | (0.22)% |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Annual Fund Operating Expenses After Fee Waiver and/or <br> Expense Reimbursement<sup>(1)</sup><sup>(2)</sup> <br>| 1.18%<br>1.92%<sup>(3)</sup> <br>| 0.91%<br>0.85%<sup>(3)</sup> <br>| 0.79% |

---

<sup>(1)</sup>

*Total Annual Fund Operating Expenses include Acquired Fund Fees and Expenses and will differ from the ratios of expenses to average net assets that are included in the Fund's Form N-CSR filing for the fiscal year ended September 30, 2025.*

<sup>(2)</sup>

*Touchstone Advisors, Inc. (the "Adviser" or "Touchstone Advisors") and Touchstone Funds Group Trust (the "Trust") have entered into a contractual expense limitation agreement whereby Touchstone Advisors will waive a portion of its fees or reimburse certain Fund expenses (excluding dividend and interest expenses relating to short sales; interest; taxes; brokerage commissions and other transaction costs; portfolio transaction and investment related expenses, including expenses associated with the Fund's liquidity providers; other expenditures which are capitalized in accordance with U.S. generally accepted accounting principles; the cost of "Acquired Fund Fees and Expenses", if any; and other extraordinary expenses not incurred in the ordinary course of business) in order to limit annual Fund operating expenses to 1.17%, 1.91%, 0.90%, 0.84% and 0.78% of average daily net assets for Classes A, C, Y, Institutional Class and Class R6 shares, respectively. This contractual expense limitation is effective through January 28, 2027, but can be terminated by a vote of the Board of Trustees of the Trust (the "Board") if it deems the termination to be beneficial to the Fund's shareholders. The terms of the contractual expense limitation agreement provide that Touchstone Advisors is entitled to recoup, subject to approval by the Board, such amounts waived or reimbursed for a period of up to three years from the date on which the Adviser reduced its compensation or assumed expenses for the Fund. The Fund will make repayments to the Adviser only if such repayment does not cause the annual Fund operating expenses (after the repayment is taken into account) to exceed both (1) the expense cap in place when such amounts were waived or reimbursed and (2) the Fund's current expense limitation.*

<sup>(3)</sup>

*Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement will differ from the ratio of net expenses to average net assets that is included in the Fund's Form N-CSR filing for the fiscal year ended September 30, 2025 due to contractual changes in the Fund's expense limitation agreement effective January 29, 2025 and January 28, 2026.*

**Example.** This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then, except as indicated, redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year, that the Fund's operating expenses remain the same and that all fee waivers or expense limits for the Fund will expire after one year. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Assuming Redemption at End of Period** | **Assuming Redemption at End of Period** | **Assuming Redemption at End of Period** | **Assuming Redemption at End of Period** | **Assuming Redemption at End of Period** | **Assuming**<br> **No Redemption**<br>|
|  | **Class A** | **Class C** | **Class Y** | **Institutional**<br> **Class**<br>| **Class R6** | **Class C** |
| 1 Year | &nbsp;&nbsp; $614 | &nbsp;&nbsp; $295 | &nbsp;&nbsp; $93 | &nbsp;&nbsp; $87 | &nbsp;&nbsp; $81 | &nbsp;&nbsp; $195 |
| 3 Years | &nbsp;&nbsp; $917 | &nbsp;&nbsp; $881 | &nbsp;&nbsp; $335 | &nbsp;&nbsp; $383 | &nbsp;&nbsp; $300 | &nbsp;&nbsp; $881 |
| 5 Years | &nbsp;&nbsp; $1241 | &nbsp;&nbsp; $1591 | &nbsp;&nbsp; $597 | &nbsp;&nbsp; $700 | &nbsp;&nbsp; $536 | &nbsp;&nbsp; $1591 |
| 10 Years | &nbsp;&nbsp; $2156 | &nbsp;&nbsp; $3475 | &nbsp;&nbsp; $1344 | &nbsp;&nbsp; $1601 | &nbsp;&nbsp; $1216 | &nbsp;&nbsp; $3475 |

---

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Touchstone Sands Capital International Growth Equity FundJanuary 28, 2026

**Portfolio Turnover.** The Fund pays transaction costs, such as brokerage commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in total annual Fund operating expenses or in the example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 19% of the average value of the Fund's portfolio.

**<u>The Fund's Principal Investment Strategies</u>**

The Fund invests, under normal market conditions, at least 80% of its assets (including borrowings for investment purposes) in equity and equity-related securities issued by companies in foreign countries. The Fund's 80% policy is a non-fundamental investment policy that can be changed by the Fund upon 60 days' prior notice to shareholders. The Fund invests primarily in a portfolio of equity securities such as common stock, preferred stock, and depositary receipts. The Fund will generally consider qualifying investments to be in companies of any size that are organized under the laws of, or maintain their principal place of business in a foreign country; have securities that are principally traded in such countries; or derive at least 50% of revenues or profits from, or have at least 50% of their productive assets, as determined by the Fund's sub-adviser, Sands Capital Management, LLC ("Sands Capital"), in such countries. The Fund generally invests in a concentrated portfolio of 25 to 40 issuers, with position sizes weighted by the conviction Sands Capital has in the investment opportunity. Issuers are selected through fundamental research undertaken by Sands Capital.

The Fund may also invest up to 30% of its assets in issuers in emerging market or frontier market countries. The Fund classifies emerging markets countries as those countries not included in the MSCI World Index, a developed market index. As of December 31, 2024, the countries in the MSCI World Index included: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, the United Kingdom, and the United States. The country composition of the MSCI World Index can change over time. Frontier markets are those emerging market countries that have the smallest, least mature economies and least developed capital markets.

In selecting securities for the Fund, Sands Capital utilizes proprietary, fundamental, business-focused research to identify companies for investment that it believes have the capacity to generate sustainable, above-average growth over a five-year time horizon. This "bottom-up" approach to investment selection focuses on a company's long-term business fundamentals, as opposed to sector or regional allocations. Therefore, the Fund may overweight certain geographies or sectors and may underweight other geographies or sectors relative to the stated benchmark. Sands Capital seeks to identify leading growth businesses that meet the following criteria:

<sup>●</sup>

Sustainable above-average earnings growth

<sup>●</sup>

Leadership position in a promising business space

<sup>●</sup>

Significant competitive advantage/unique business franchise

<sup>●</sup>

Clear mission and value-added focus

<sup>●</sup>

Financial strength

<sup>●</sup>

Rational valuation relative to the market and business prospects

As part of the evaluation of a company, Sands Capital may consider corporate governance, social, and environmental practices (collectively, "ESG") when it believes such practices may be material to the long-term shareowner value-creation potential of the company. Sands Capital utilizes proprietary ESG-related research to enhance its evaluation of portfolio businesses. The relevance and materiality of ESG practices vary and are highly dependent on the region, country, industry, and company. Sands Capital's analysis of these practices is integrated into the investment decision making process to the extent it believes they may affect a company's value creation potential.

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Touchstone Sands Capital International Growth Equity FundJanuary 28, 2026

Sands Capital generally intends for the Fund's investments to be held for an average term of three to five years, although the Fund may hold any investment for any length of time. Sands Capital generally considers selling a security when it no longer meets the investment criteria outlined above, for risk management purposes, or if a more attractive investment opportunity presents itself.

**<u>The Fund's Principal Risks</u>**

The Fund's share price will fluctuate. You could lose money on your investment in the Fund and the Fund could also return less than other investments. Investments in the Fund are not bank guaranteed, are not deposits, and are not insured by the Federal Deposit Insurance Corporation or any other federal government agency. As with any mutual fund, there is no guarantee that the Fund will achieve its investment goal. You can find more information about the Fund's investments and risks under the "Principal Investment Strategies and Risks" section of the Fund's prospectus. The Fund is subject to the principal risks summarized below.

**Equity Securities Risk:** The Fund is subject to the risk that stock prices will fall over short or extended periods of time. Individual companies may report poor results or be negatively affected by industry and/or economic trends and developments, or as a result of irregular and/or unexpected trading activity among retail investors. The prices of securities issued by these companies may decline in response to such developments, which could result in a decline in the value of the Fund's shares.

<sup>●</sup>

**Large-Cap Risk:** The Fund is subject to the risk that stocks of larger companies may underperform relative to those of small and mid-sized companies. Large-cap companies may be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes, and also may not be able to attain the high growth rate of successful smaller companies, especially during extended periods of economic expansion.

<sup>●</sup>

**Mid-Cap Risk:** The Fund is subject to the risk that medium capitalization stocks may underperform other types of stocks or the equity markets as a whole. Stocks of mid-sized companies may be subject to more abrupt or erratic market movements than stocks of larger, more established companies. Mid-sized companies may have limited product lines or financial resources, and may be dependent upon a particular niche of the market.

<sup>●</sup>

**Preferred Stock Risk:** In the event an issuer is liquidated or declares bankruptcy, the claims of owners of bonds take precedence over the claims of those who own preferred and common stock. If interest rates rise, the fixed dividend on preferred stocks may be less attractive, causing the price of preferred stocks to decline.

<sup>●</sup>

**Small-Cap Risk:** Stocks of smaller companies may be subject to more abrupt or erratic market movements than stocks of larger, more established companies. Small companies may have limited product lines or financial resources and may be dependent upon a small or inexperienced management group.

<sup>●</sup>

**Equity-Related Securities Risk:** The Fund may invest in equity-related securities, including low-exercise-price options ("LEPOs"), low-exercise-price-warrants ("LEPWs"), and participatory notes ("P-notes") to gain exposure to issuers in certain emerging or frontier market countries. LEPOs, LEPWs, and P-notes are offshore derivative instruments issued to foreign institutional investors and their sub-accounts against underlying securities traded in emerging or frontier markets. These securities may be listed on an exchange or traded over-the-counter, and are similar to ADRs. As a result, the risks of investing in LEPOs, LEPWs, and P-notes are similar to depositary receipts risk and foreign securities risk in general. Specifically these securities entail both counterparty risk—the risk that the issuer of the LEPO, LEPW, or P-Note may not be able to fulfill its obligations or that the holder and counterparty or issuer may disagree as to the meaning or application of contractual terms—and liquidity risk—the risk that a liquid market may not exist for such securities.

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Touchstone Sands Capital International Growth Equity FundJanuary 28, 2026

**Foreign Securities Risk:** Investing in foreign securities poses additional risks since political and economic events unique in a country or region will affect those markets and their issuers, while such events may not necessarily affect the U.S. economy or issuers located in the United States. In addition, investments in foreign securities are generally denominated in foreign currency. As a result, changes in the value of those currencies compared to the U.S. dollar may affect (positively or negatively) the value of the Fund's investments. There are also risks associated with foreign accounting standards, government regulation, market information, and clearance and settlement procedures. To the extent that the securities held by the Fund trade on foreign exchanges or in foreign markets that may be closed when the U.S. market is open, there are likely to be deviations between the current price of the securities held by the Fund and their last quoted price or the securities' quote from the closed foreign market. Foreign markets may be less liquid and more volatile than U.S. markets and offer less protection to investors. To the extent a Fund focuses its investments in a single country or only a few countries in a particular geographic region, economic, political, regulatory or other conditions affecting such country or region may have a greater impact on Fund performance relative to a more geographically diversified fund.

<sup>●</sup>

**Depositary Receipts Risk:** Foreign receipts, which include American Depositary Receipts, Global Depositary Receipts, and European Depositary Receipts, are securities that evidence ownership interests in a security or a pool of securities issued by a foreign issuer. The risks of depositary receipts include many risks associated with investing directly in foreign securities.

<sup>●</sup>

**Emerging Markets Risk:** Emerging markets may be more likely to experience political turmoil or rapid changes in market or economic conditions than more developed countries. In addition, the financial stability of issuers (including governments) in emerging market countries may be more precarious than that of issuers in other countries.

<sup>●</sup>

**Frontier Markets Risk:** Frontier markets have similar risks to emerging markets, except that these risks are often magnified in a frontier market due to its smaller and less developed economy. As a result, frontier markets may experience greater changes in market or economic conditions, financial stability, price volatility, currency fluctuations, and other risks inherent in foreign securities.

**Growth-Investing Risk:** Growth-oriented funds may underperform when value investing is in favor, and growth stocks may be more volatile than other stocks because they are more sensitive to investor perceptions of the issuing company's growth of earnings potential.

**Management Risk:** In managing the Fund's portfolio, the Adviser engages one or more sub-advisers to make investment decisions for a portion of or the entire portfolio. There is a risk that the Adviser may be unable to identify and retain sub-advisers who achieve superior investment returns relative to other similar sub-advisers.

**Economic and Market Events Risk:** Events in the U.S. and global financial markets, including actions taken by the U.S. Federal Reserve or foreign central banks to stimulate or stabilize economic growth, may at times, and for varying periods of time, result in unusually high market volatility, which could negatively impact the Fund's performance and cause the Fund to experience illiquidity, shareholder redemptions, or other potentially adverse effects. Reduced liquidity in credit and fixed-income markets could negatively affect issuers worldwide. Financial institutions could suffer losses as interest rates rise or economic conditions deteriorate. In addition, the Fund's service providers are susceptible to operational and information or cyber security risks that could result in losses to a Fund and its shareholders.

**Sector and Industry Focus Risk:** The Fund may invest a high percentage of its assets in specific sectors and/or industries of the market in order to achieve a potentially greater investment return. As a result, the Fund may be more susceptible to economic, political, and regulatory developments in a particular sector or industry of the market, positive or negative, than a fund that does not invest a high percentage of its assets in specific sectors or industries.

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Touchstone Sands Capital International Growth Equity FundJanuary 28, 2026

**ESG Investing Risk:** The Fund's sub-adviser may consider ESG factors that it deems relevant or additive, along with other material factors and analysis, when selecting investments for the Fund. The Fund's ESG criteria may cause the Fund to forgo opportunities to buy certain securities, or forgo opportunities to gain exposure to certain industries, sectors, regions and countries. In addition, the Fund may be required to sell a security when it might otherwise be disadvantageous for it to do so.

**Cybersecurity Risk:** Cyber security breaches are either intentional or unintentional events that allow an unauthorized party to gain access to Fund assets, customer data, or proprietary information, or cause a Fund or Fund service provider to suffer data corruption or lose operational functionality. A cyber security breach could result in the loss or theft of customer data or funds, loss or theft of proprietary information or corporate data, physical damage to a computer or network system, or costs associated with system repairs, any of which could have a substantial impact on the Fund. Such incidents could affect issuers in which a Fund invests, thereby causing the Fund's investments to lose value. The Fund has established risk management systems reasonably designed to seek to reduce the risks associated with cyber-events. However, there is no guarantee that the Fund will be able to prevent or mitigate the impact of any or all cyber-events.

**<u>The Fund's Performance</u>**

The bar chart and performance table below illustrate some indication of the risks and volatility of an investment in the Fund by showing changes in the Fund's performance from calendar year to calendar year and by showing how the Fund's average annual total returns for one year, five years, and ten years compare with the MSCI All Country World ex-USA Index. The bar chart does not reflect any sales charges, which would reduce your return. The performance table reflects any applicable sales charges. Past performance (before and after taxes) does not necessarily indicate how the Fund will perform in the future. More recent performance information is available at no cost by visiting TouchstoneInvestments.com or by calling 1.800.543.0407.

On August 31, 2023, the Fund changed its name from the Touchstone International ESG Equity Fund to the Touchstone Sands Capital International Growth Equity Fund. The Fund also changed its principal investment strategies and its sub-adviser from Rockefeller & Co. LLC ("Rockefeller") to Sands Capital, the Fund's current sub-adviser, on August 31, 2023. The Fund's performance shown below might have differed materially if Sands Capital had managed the Fund pursuant to its current principal investment strategies prior to August 31, 2023. In addition, on August 23, 2019, the Fund changed its sub-adviser from Miller/Howard Investments, Inc. ("Miller/Howard") to Rockefeller. Performance presented prior to August 23, 2019 is attributable to Miller/Howard.

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Touchstone Sands Capital International Growth Equity FundJanuary 28, 2026

**Touchstone Sands Capital International Growth Equity Fund — Class A Shares Total Return as of December 31**

![](g586521tfgttpyax.jpg)

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| | | |
|:---|:---|:---|
| Best Quarter: | 4th Quarter 2023 | 19.16<br> %<br>|
| Worst Quarter: | 1st Quarter 2020 | &nbsp;&nbsp; (23.44)%<br>|

---

After-tax returns are calculated using the highest individual marginal federal income tax rates in effect on a given distribution reinvestment date and do not reflect the impact of state and local taxes. Your actual after-tax returns may differ from those shown and depend on your tax situation. The after-tax returns do not apply to shares held in an individual retirement account ("IRA"), 401(k), or other tax-advantaged account. The after-tax returns shown in the table are for Class A shares only. The after-tax returns for other classes of shares offered by the Fund will differ from the Class A shares' after-tax returns. The Return After Taxes on Distributions and Sale of Fund Shares may be greater than other returns for the same period due to a tax benefit of realizing a capital loss on the sale of Fund shares.

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Touchstone Sands Capital International Growth Equity FundJanuary 28, 2026

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| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**<br> **For the periods ended December 31, 2025**<br>| **1 Year** | **5 Years** | **10 Years** |
| **Touchstone Sands Capital International Growth Equity Fund - Class A** |  |  |  |
| Return Before Taxes | 4.09<br> %<br>| 4.03<br> %<br>| 7.22<br> %<br>|
| Return After Taxes on Distributions | 3.78<br> %<br>| 2.98<br> %<br>| 5.71<br> %<br>|
| Return After Taxes on Distributions and Sale of Fund Shares | 2.56<br> %<br>| 3.11<br> %<br>| 5.57<br> %<br>|
| **Touchstone Sands Capital International Growth Equity Fund - Class C** |  |  |  |
| Return Before Taxes | 7.91<br> %<br>| 4.35<br> %<br>| 7.23<br> %<br>|
| **Touchstone Sands Capital International Growth Equity Fund - Class Y** |  |  |  |
| Return Before Taxes | 10.01<br> %<br>| 5.42<br> %<br>| 8.16<br> %<br>|
| **Touchstone Sands Capital International Growth Equity Fund -** <br> **Institutional Class**<br>|  |  |  |
| Return Before Taxes<sup>(1)</sup> <br>| 10.18<br> %<br>| 5.46<br> %<br>| 8.18<br> %<br>|
| **Touchstone Sands Capital International Growth Equity Fund - Class** <br> **R6**<br>|  |  |  |
| Return Before Taxes<sup>(2)</sup><sup>(3)</sup> <br>| 10.14<br> %<br>| 5.46<br> %<br>| 8.18<br> %<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; **MSCI All Country World ex-USA Index** (reflects no deductions for fees, <br> expenses or taxes)<br>| 32.39<br> %<br>| 7.91<br> %<br>| 8.41<br> %<br>|

---

<sup>(1)</sup>

*The inception date of Institutional Class shares was August 23, 2019. Institutional Class shares' performance was calculated using the historical performance of Class A shares for the periods prior to August 23, 2019. Performance for these periods has been restated to reflect the impact of the fees and expenses applicable to Institutional Class shares.*

<sup>(2)</sup>

*An investor transacting in Class R6 shares may be required to pay a commission to a broker for effecting such transactions on an agency basis. Such commissions will not be reflected in the table.*

<sup>(3)</sup>

*The inception date of Class R6 shares was August 31, 2023. Class R6 shares' performance was calculated using the historical performance of Institutional Class shares for the periods prior to August 31, 2023. Performance for these periods has been restated to reflect the impact of the fees and expenses applicable to Class R6 shares.*

**<u>The Fund's Management</u>**

**Investment Adviser**

Touchstone Advisors, Inc. serves as the Fund's investment adviser.

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| | | | |
|:---|:---|:---|:---|
| **Sub-Adviser** | **Portfolio Managers** | &nbsp;&nbsp; **Investment Experience** <br> **with the Fund** <br>| &nbsp;&nbsp; **Primary Title with** <br> **Sub-Adviser**<br>|
| Sands Capital <br> Management, LLC<br>| David E. Levanson, CFA | &nbsp;&nbsp; Managing the Fund <br> since August 2023<br>| &nbsp;&nbsp; Senior Portfolio <br> Manager, Research <br> Analyst and Executive <br> Managing Director<br>|
|  | &nbsp;&nbsp; Danielle J. Menichella, <br> CFA<br>| &nbsp;&nbsp; Managing the Fund <br> since August 2023<br>| &nbsp;&nbsp; Portfolio Manager and <br> Senior Research Analyst<br>|

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Touchstone Sands Capital International Growth Equity FundJanuary 28, 2026

**<u>Buying and Selling Fund Shares</u>**

Minimum Investment Requirements

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| | | |
|:---|:---|:---|
|  | **Classes A, C, and Y** | **Classes A, C, and Y** |
|  | **Initial** <br> **Investment**<br>| **Additional** <br> **Investment**<br>|
| Regular Account | &nbsp;&nbsp;&nbsp; $2500 | &nbsp;&nbsp;&nbsp; $50 |
| &nbsp;&nbsp;&nbsp;&nbsp; Retirement Account or Custodial Account under the Uniform Gifts/Transfers <br> to Minors Act<br>| &nbsp;&nbsp;&nbsp; $1000 | &nbsp;&nbsp;&nbsp; $50 |
| Investments through the Automatic Investment Plan | &nbsp;&nbsp;&nbsp; $100 | &nbsp;&nbsp;&nbsp; $50 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | |
|:---|:---|:---|
|  | **Institutional Class** | **Institutional Class** |
|  | **Initial**<br> **Investment**<br>| **Additional** <br> **Investment**<br>|
| Regular Account | &nbsp;&nbsp;&nbsp; $500000 | &nbsp;&nbsp;&nbsp; $50 |

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| | | |
|:---|:---|:---|
|  | **Class R6** | **Class R6** |
|  | **Initial**<br> **Investment**<br>| **Additional** <br> **Investment**<br>|
| Regular Account | &nbsp;&nbsp;&nbsp; $50000 | &nbsp;&nbsp;&nbsp; $50 |

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Class R6 shares held through Touchstone Securities require a $50,000 minimum initial investment and have a $50 subsequent investment minimum. Touchstone does not impose a minimum investment requirement on accounts held through a financial intermediary for Class R6 shares. However, financial intermediaries may set different minimum initial and additional investment requirements, may impose other restrictions or may charge you fees for their services.

Fund shares may be purchased and sold on days that the New York Stock Exchange is open for trading. Existing Class A, C, R6 and Institutional Class shareholders may purchase shares directly through Touchstone Funds via the transfer agent, BNY Mellon, or through their financial intermediary. Class Y shares are available only through financial intermediaries who have appropriate selling agreements in place with Touchstone Securities. Class R6 shares may be purchased directly through Touchstone Securities or through your financial intermediary. Shares may be purchased or sold by writing to Touchstone Securities at P.O. Box 534467, Pittsburgh, PA 15253-4467, calling 1.800.543.0407, or visiting the Touchstone Funds' website: TouchstoneInvestments.com. You may only sell shares over the telephone or via the Internet if the value of the shares sold is less than or equal to $100,000. If your shares are held by a processing organization or financial intermediary you will need to follow its purchase and redemption procedures. For more information about buying and selling shares, see the "Investing with Touchstone" section of the Fund's prospectus or call 1.800.543.0407.

**<u>Tax Information</u>**

The Fund intends to make distributions that may be taxed as ordinary income or capital gains except when shares are held through a tax-advantaged account, such as a 401(k) plan or an IRA. Withdrawals from a tax-advantaged account, however, may be taxable.

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Touchstone Sands Capital International Growth Equity FundJanuary 28, 2026

**<u>Financial Intermediary Compensation</u>**

If you purchase shares in the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other financial intermediary and your salesperson to recommend the Fund over another investment. Ask your salesperson or visit your financial intermediary's website for more information.

TSF-TU36000-SUMPRO-2601

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