Important Notice from Touchstone Funds
Reverse Stock Split of Certain Touchstone Fund’s Class C Shares
Effective Date – after close of business October 14, 2022
During their August 18th meeting, the Touchstone Board of Trustees approved a Reverse Stock Split for Class C shares of five Touchstone Funds. The Reverse Stock Split will be completed as outlined in the table below after the close of business on or about October 14, 2022 (the “Effective Date”). Shareholders who own Class C shares of these Funds will receive a proportional number of Class C shares as of the Effective Date. The total dollar value of a shareholder’s investment in the Fund will be unchanged and each shareholder will continue to own the same percentage (by value) of the Fund immediately following the Reverse Stock Split as the shareholder did immediately prior to the Reverse Stock Split.
The Reverse Stock Split will not be a taxable event, nor does it have an impact on the Fund’s holdings or its performance. The Board approved the Reverse Stock Split in order to bring the NAV of the Fund’s Class C shares into better alignment with the NAVs of the Fund’s other share classes. For additional information, Touchtone is providing copies of the prospectus supplements related to this corporate action.
This is the first of several Touchstone communications as the operational details for this Reverse Stock Split will be provided in future communications.
The Reverse Stock Split Ratios for the impacted Touchstone Funds are in the table below which are based on the NAV of the Fund’s Class C shares as of August 17, 2022.
| TA # | CUSIP | TICKER | SHARE CLASS | TOUCHSTONE FUND NAME | Reverse Stock Split Ratio (old to new) |
| 90 | 89154X807 | TGVCX | C | Growth Opportunities Fund | 1 : 0.670946 |
| 43 | 89154X872 | TOECX | C | Mid Cap Growth Fund | 1 : 0.466797 |
| 28 | 89154X401 | TEQCX | C | Non-US ESG Equity Fund | 1 : 0.801806 |
| 461 | 89155T839 | TSNCX | C | Sands Capital Select Growth Fund | 1 : 0.796098 |
| 6501 | 89154Q240 | SSCOX | C | Small Company Fund | 1 : 0.379048 |
Should you have any questions, DTCC participant firms are invited to call BNY Mellon Broker Dealer Services at 1-877-332-2371. For any fund direct business or fund related inquiries, please contact Touchstone Shareholder Services at 1-800-543-0407.
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TOUCHSTONE STRATEGIC TRUST
Touchstone Growth Opportunities Fund
Touchstone Mid Cap Growth Fund
Touchstone Non-US ESG Equity Fund
Touchstone Small Company Fund
(each, a “Fund” and together, the “Funds”)
Supplement dated August 19, 2022 to the current Prospectus, Summary Prospectus, and Statement of Additional Information for the Funds, as may be amended or supplemented from time to time
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Notice of Reverse Stock Split of Class C Shares
The following change applies to the current Prospectus, Summary Prospectus, and Statement of Additional Information for Touchstone Growth Opportunities Fund, Touchstone Mid Cap Growth Fund, Touchstone Non-US ESG Equity Fund and Touchstone Small Company Fund (each, a “Fund” and together, the “Funds”).
At a meeting of the Board of Trustees (the “Board”) of Touchstone Strategic Trust (the “Trust”) held on August 18, 2022, Touchstone Advisors, Inc. (“Touchstone”) proposed, and the Board approved, a reverse stock split of the Funds’ issued and outstanding Class C shares (collectively, the “Reverse Stock Split”). The Reverse Stock Split will be completed as outlined in the table below after the close of business on or about October 14, 2022 (the “Effective Date”). As a result of the Reverse Stock Split, for each Class C share of the Funds that a shareholder owns as of the Effective Date, the shareholder will receive a proportional number of Class C shares of the respective Fund with the same aggregate dollar value. Thus, the total dollar value of an investment in a Fund will be unchanged and each shareholder will
continue to own the same percentage (by value) of the Fund immediately following the Reverse Stock Split as the shareholder did immediately prior to the Reverse Stock Split. The Reverse Stock Split will not be a taxable event, nor does it have an impact on a Fund’s holdings or its performance. No changes are contemplated at this time for the other share classes offered by the Funds.
The Reverse Stock Split will be carried out in accordance with a stock split ratio calculated to result in net asset values per share (“NAVs”) that better align the share class prices of the respective Funds. The ratios, which are based on the NAVs of each respective Fund’s Class C shares as of August 17, 2022, are shown in the table below.
| Fund | Reverse Stock Split Ratio (Old to New) |
| Touchstone Growth Opportunities Fund – Class C | 1 : 0.670946 |
| Touchstone Mid Cap Growth Fund – Class C | 1 : 0.466797 |
| Touchstone Non-US ESG Equity Fund – Class C | 1 : 0.801806 |
| Touchstone Small Company Fund – Class C | 1 : 0.379048 |
The Class C shares of each Fund will be offered, sold, and redeemed on a Reverse Stock Split-adjusted basis beginning on the first business day following the Effective Date. Each shareholder’s next account statement after the Reverse Stock Split is completed will reflect the Reverse Stock Split.
Reason for the Class C Shares Reverse Stock Split
The Board approved the Reverse Stock Split in order to bring the NAVs of eachFund’s Class C shares into better alignment with the NAVs of the Fund’s other share classes. The Reverse Stock Split is designed to reduce the variance between the NAVs of Class C shares and the other share classes of each respective Fund. This is intended to reduce marketplace confusion and bring greater uniformity to the ratio of capital gains to the NAVs across the classes of each Fund.
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TOUCHSTONE FUNDS GROUP TRUST
Touchstone Sands Capital Select Growth Fund (the “Fund”)
Supplement dated August 19, 2022 to the current Prospectus, Summary Prospectus, and Statement of Additional Information for the Fund, as may be amended or supplemented from time to time
Notice of Reverse Stock Split of Class C Shares
The following change applies to the current Prospectus, Summary Prospectus, and Statement of Additional Information, each dated January 28, 2022, for Touchstone Sands Capital Select Growth Fund (the “Fund”).
At a meeting of the Board of Trustees (the “Board”) of Touchstone Funds Group Trust (the “Trust”) held on August 18, 2022, Touchstone Advisors, Inc. (“Touchstone”) proposed, and the Board approved, a reverse stock split of the Fund’s issued and outstanding Class C shares (the “Reverse Stock Split”). The Reverse Stock Split will be completed as outlined in the table below after the close of business on or about October 14, 2022 (the “Effective Date”). As a result of the Reverse Stock Split, for the Class C shares of the Fund that a shareholder owns as of the Effective Date, the shareholder will receive a proportional number of Class C shares of the Fund with the same aggregate dollar value. Thus, the total dollar value of an investment in the Fund will be unchanged and each shareholder will continue to own the same percentage (by value) of the Fund immediately following the Reverse Stock Split as the shareholder did immediately prior to the Reverse Stock Split. The Reverse Stock Split will not be a taxable event, nor does it have an impact on the Fund’s holdings or its performance. No changes are contemplated at this time for the other share classes offered by the Fund.
The Reverse Stock Split will be carried out in accordance with a stock split ratio calculated to result in a net asset value per share (“NAV”) that better aligns the share class prices of the Fund. The ratio, which is based on the NAV of the Fund’s Class C shares as of August 17, 2022, is shown in the table below.
| Fund | Reverse Stock Split Ratio (Old to New) |
| Touchstone Sands Capital Select Growth Fund – Class C | 1 : 0.796098 |
The Class C shares of the Fund will be offered, sold, and redeemed on a Reverse Stock Split-adjusted basis beginning on the first business day following the Effective Date. Each shareholder’s next account statement after the Reverse Stock Split is completed will reflect the Reverse Stock Split.
Reason for the Class C Shares Reverse Stock Split
The Board approved the Reverse Stock Split in order to bring the NAV of the Fund’s Class C shares into better alignment with the NAVs of the Fund’s other share classes. The Reverse Stock Split is designed to reduce the variance between the NAVs of the Class C shares and the other share classes of the Fund. This is intended to reduce marketplace confusion and bring greater uniformity to the ratio of capital gains to the NAVs across the classes of the Fund.
Please contact your financial advisor or Touchstone at 800.543.0407 if you have any questions.
FOR BROKER DEALER USE ONLY
TC128570(0922)1