From Touchstone Investments:
As previously announced, on February 16, 2023, the Board of Trustees of the Touchstone Strategic Trust (“Trust”) approved converting the Touchstone Dynamic Allocation Fund (the “Target Fund”) into an exchange-traded fund (“ETF”) by the reorganization of the Fund into a new ETF (“Acquiring Fund”), which upon filing and regulatory approval will be a newly-created fund in the Touchstone family of funds, (the “Reorganization”). The Fund’s shareholders will be required to approve the Reorganization.
In connection with the Reorganization, the Target Fund will close to new shareholders on May 15, 2023.
A Special Meeting of Shareholders is expected to be held in the third quarter of 2023 (the “Special Meeting”), at which shareholders of the Target Fund will be asked to vote on the proposal to approve the Reorganization. The Reorganization is expected to be tax-free for U.S. federal income tax purposes.
Current Target Fund shareholders may continue to purchase shares of the Target Fund until September 29, 2023.
After the Reorganization, shareholders may only purchase or sell shares of the Acquiring ETF on a national securities exchange at prevailing market prices through a broker-dealer.
The Target Fund is sub-advised by Wilshire Associates Incorporated (“Wilshire”). The Acquiring ETF will be sub-advised by Los Angeles Capital Management LLC (“Los Angeles Capital”).
Touchstone will distribute more details on the expected share class collapse and subsequent reorganization and in the coming months ahead of the event.
Should you have any questions, DTCC participant firms are invited to call BNY Mellon Broker Dealer Services at 877-332-2371. For any fund direct business or fund related inquiries, please contact Touchstone Shareholder Services at 800-543-0407.
TC133581(0523)1