Touchstone Balanced Allocation Fund (Prospectus Summary) | Touchstone Balanced Allocation Fund

TOUCHSTONE BALANCED ALLOCATION FUND SUMMARY

The Fund's Investment Goal

The Fund seeks to provide investors with capital appreciation and current
income.

The Fund's Fees and Expenses

This table describes the fees and expenses that you may pay if you buy and hold
shares of the Fund.  You may qualify for sales charge discounts for Class A
shares if you and your family invest, or agree to invest in the future, at least
$50,000 or more in the Touchstone Funds. More information about these and other
discounts is available from your financial professional and in the section
entitled "Choosing a Class of Shares" in the Fund's prospectus on page 81 and in
the section entitled "Choosing a Share Class" in the Fund's Statement of
Additional Information on page 89.

Shareholder Fees (fees paid directly from your investment)

Shareholder Fees Touchstone Balanced Allocation Fund (USD $)	Class A	Class C	Class Y	Institutional
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)	5.75%	none	none	none
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or the amount redeemed, whichever is less)	none	1.00%	none	none
Wire Redemption Fee	15	15	15	15

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Annual Fund Operating Expenses Touchstone Balanced Allocation Fund		Class A	Class C	Class Y	Institutional
Management Fees		0.20%	0.20%	0.20%	0.20%
Distribution and/or Service (12b-1) Fees		0.25%	1.00%	none	none
Other Expenses	[1]	0.49%	0.44%	0.82%	3.55%
Acquired Fund Fees and Expenses	[1]	0.74%	0.74%	0.74%	0.74%
Total Annual Fund Operating Expenses		1.68%	2.39%	1.76%	4.49%
Fee Waivers and/or Expense Reimbursement	[2]	(0.30%)	(0.25%)	(0.63%)	(3.36%)
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursement		1.38%	2.13%	1.13%	1.13%

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 and that the
Fund's operating expenses remain the same (reflecting the contractual fee
waiver).  Although your actual costs may be higher or lower, based on these
assumptions your costs would be:

Assuming Redemption at End of Period

Expense Example Touchstone Balanced Allocation Fund (USD $)	Class A	Class C	Class Y	Institutional
Expense Example, With Redemption, 1 Year	708	317	116	116
Expense Example, With Redemption, 3 Years	1,019	696	429	722
Expense Example, With Redemption, 5 Years	1,383	1,229	834	1,701
Expense Example, With Redemption, 10 Years	2,404	2,687	1,969	4,192

Assuming No Redemption

Expense Example, No Redemption (USD $)	Touchstone Balanced Allocation Fund Class C
Expense Example, No Redemption, 1 Year	217
Expense Example, No Redemption, 3 Years	696
Expense Example, No Redemption, 5 Years	1,229
Expense Example, No Redemption, 10 Years	2,687

Portfolio Turnover.

The Fund pays transaction costs, such as commissions, when it buys and sells
securities (or "turns over" its portfolio). A higher portfolio turnover 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 annual fund operating expenses or in the example, affect the Fund's
performance. During the most recent fiscal year, the portfolio turnover
rate of the Fund was 5.65% of the average value of its portfolio.

The Fund's Principal Investment Strategies

The Fund is a "fund of funds," which seeks to achieve its investment goal by
primarily investing in a diversified portfolio of affiliated underlying equity
and fixed-income funds (although a portion of its assets may be invested in
cash, cash equivalents, or in money market funds).  These affiliated underlying
funds, in turn, invest in a variety of U.S. and foreign equity and fixed-income
securities.

The following table details, under normal circumstances, how the Fund expects to
allocate its assets among equity and fixed-income funds.

Equity Fund Allocation   Fixed-Income Fund Allocation
                                                     
        50-70%                      30-50%           

The Fund's sub-advisor, Ibbotson Associates, Inc. ("Ibbotson"), seeks to develop
an optimal model allocation among underlying funds using an analysis that looks
at forecasted returns, standard deviations in historical returns, and the
correlation of the performance of different market sectors.  The Fund may invest
between 0-45% of its assets in any individual underlying fund.

Ibbotson and the Fund's investment advisor agree from time to time upon the
universe of underlying funds that Ibbotson may consider when making allocation
decisions.  Ibbotson's analysis in selecting and weighting the underlying funds
from that universe includes historical returns-based style analysis,
holdings-based style analysis, manager interviews, relative and absolute
performance, including correlations with other underlying funds as well as
corresponding benchmarks, and historical volatility (the variability of returns
from one period to the next).  When considering equity funds, Ibbotson focuses
on the underlying funds' foreign and domestic exposure, market capitalization
ranges, use of derivative strategies, and investment style (growth vs. value).
When considering fixed-income funds, Ibbotson's primary focus is the overall
level of risk in the type of fixed income securities in which the underlying
funds invest and on maximizing current income and long-term capital growth.
  
Ibbotson, subject to approval by the Fund's investment advisor, may change the
Fund's target allocation to each asset class, the underlying funds in each asset
class (including adding or deleting underlying funds), or target allocations to
each underlying fund without prior approval from or notice to shareholders.

Decisions to sell shares of the underlying funds are made to adjust an
underlying fund's target allocation based on Ibbotson's view of the Fund's
characteristics and other allocation criteria, for cash flow resulting from
redemptions, or as a result of periodic rebalancing of the Fund's holdings.  For
information on the underlying funds, please see the section entitled "Additional
Information Regarding the Underlying Funds" under "Investment Strategies and
Risks" in the Fund's prospectus.

The Principal Risks

The Fund's shares will fluctuate.  You could lose money on your investment in
the Fund and the Fund could return less than other investments.  The Fund is
subject to the principal risks summarized below.

Risks of Fund of Funds Structure: The value of an investment in the Fund is
based on the performance of the underlying funds in which it invests and the
allocation of its assets among those funds. The underlying funds may change
their investment goals, policies or practices and there can be no assurance that
the underlying funds will achieve their respective investment goals. Because the
Fund invests in mutual funds, it bears a proportionate share of the expenses
charged by the underlying funds in which it invests. The principal risks of an
investment in the Fund include the principal risks of investing in the
underlying funds.

The more the Fund allocates to equity funds, the greater the expected risk.  To
the extent that the Fund invests more of its assets in one underlying fund than
another, the Fund will have greater exposure to the risks of that underlying
fund.  One underlying fund may buy the same security that another underlying
fund is selling.  You would indirectly bear the costs of both trades.  In
addition, you may receive taxable gains from portfolio transactions by the
underlying funds, as well as taxable gains from the Fund's transactions in
shares of the underlying funds.  The Fund's ability to achieve its investment
goal depends upon Ibbotson's skill in selecting the best mix of underlying
funds.  There is the risk that Ibbotson's evaluations and assumptions regarding
the underlying funds may be incorrect in view of actual market conditions.

Conflicts of Interest:  Touchstone Advisors may be subject to potential
conflicts of interest in supervising Ibbotson's selection of underlying funds
because Touchstone Advisors may receive higher fees from certain underlying
funds than others. However, Touchstone Advisors is a fiduciary to the Fund and
is required to act in the Fund's best interest.

The underlying funds are expected to be subject to the following principal
risks:

o  Call Risk:  During periods of falling interest rates, an issuer may prepay
(or "call") certain debt obligations with high coupon rates prior to maturity.
This may cause an underlying fund's average weighted maturity to fluctuate,
and may require an underlying fund to invest the resulting proceeds at lower
interest rates. The types of securities that are subject to call risk include
mortgage-backed securities and municipal bonds with a term of longer than ten
years.

o  Rating Agency Risk:  Ratings represent a nationally recognized statistical
rating organization's ("NRSRO") opinion regarding the quality of the security
and are not a guarantee of quality. NRSROs may fail to timely update credit
ratings in response to subsequent events. In addition,  NRSROs are subject to
an inherent conflict of interest because they are often compensated by the same
issuers whose securities they grade.

o  Credit Risk:  An issuer may be unable to make timely payments of either
principal or interest. This may cause the issuer's securities to decline in
value. Credit risk is particularly relevant to those portfolios that invest a
significant amount of their assets in junk bonds or lower-rated securities.

o  Debt Securities Risk:  The prices of an underlying fund's fixed income
securities respond to economic developments, particularly interest rate changes,
as well as to perceptions about the creditworthiness of individual issuers,
including governments.

o  ADR Risk: The risks of (ADRs) American Depositary Receipts include many
risks associated with investing directly in foreign securities, such as
individual country risk and liquidity risk. Unsponsored ADRs involve additional
risks because U.S. reporting requirements do not apply and the issuing bank
will recover shareholder distribution costs from movement of share prices and
payment of dividends.

o  Derivatives Risk:  Certain of the underlying funds may invest in derivatives,
such as futures, options or swap contracts, to pursue their investment goals.
The use of such derivatives may expose an underlying fund to additional risks
that it would not be subject to if it invested directly in the securities
underlying those derivatives, including the risk of counterparty default. These
additional risks could cause an underlying fund to experience losses to which
it would otherwise not be subject. An underlying fund may use derivatives to
gain exposure to (or hedge exposure against) a particular market, currency or
instrument, to adjust the underlying fund's duration or attempt to manage
interest rate risk, and for certain other purposes consistent with its
investment strategy.  

o  Equity Securities Risk:  An underlying fund is subject to the risk that
stock prices will fall (or rise with respect to short positions) 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.
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
underlying fund's shares.  Conversely, the risk of price increases with
respect to securities sold short will also cause a decline in the value of the
underlying fund's shares. These factors contribute to price volatility. In
addition, common stocks represent a share of ownership in a company, and rank
after bonds and preferred stock in their claim on the company's assets in the
event of liquidation.

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

o  Mid Cap Risk:  An underlying 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.
  
o  Small Cap Risk:  An underlying fund is subject to the risk that small
    capitalization stocks may underperform other types of stocks or the equity
    markets as a whole. Small cap stock risk is the risk that 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, or may be dependent upon a small or inexperienced
    management group. In addition, small cap stocks typically are traded in lower
    volume, and their issuers typically are subject to greater degrees of changes in
    their earnings and prospects.

o  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. These events will not necessarily
affect the U.S. economy or similar 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 underlying fund's investments. These currency movements may happen
separately from, or in response to, events that do not otherwise affect the
value of the security in the issuer's home country. There is a risk that foreign
securities may not be subject to accounting standards or governmental
supervision comparable to U.S. companies and that less public information about
their operations may exist. There is risk associated with the clearance and
settlement procedures in non-U.S. markets, which may be unable to keep pace with
the volume of securities transactions and may cause delays.  Foreign markets may
be less liquid and more volatile than U.S. markets and offer less protection to
investors. Over-the-counter securities may also be less liquid than
exchange-traded securities.

o  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
    in other countries. As a result, there will tend to be an increased risk of
    price volatility associated with the underlying fund's investments in emerging
    market countries, which may be magnified by currency fluctuations relative to
    the U.S. dollar.

o  High Yield Risk: Non-investment grade debt securities are sometimes referred
to as "junk bonds" and are considered speculative with respect to their issuers'
ability to make payments of interest and principal. There is a high risk that
an underlying fund could suffer a loss from investments in non-investment grade
debt securities caused by the default of an issuer of such securities. Part of
the reason for this high risk is that, in the event of a default or bankruptcy,
holders of non-investment grade debt securities generally will not receive
payments until the holders of all other debt have been paid. In addition, the
market for non-investment grade debt securities has, in the past, had more
frequent and larger price changes than the markets for other securities.
Non-investment grade debt securities can also be more difficult to sell for
good value.

o  Interest Rate Risk:  The market value of fixed income investments changes
in response to interest rate changes and other factors. During periods of
falling interest rates, the values of fixed income securities generally rise
and during periods of rising interest rates, the values of those securities
generally fall.  Longer-term securities are generally more volatile, so the
longer the average maturity or duration of these securities, the greater
their price risk.
  
o  Investment Style Risk: Different investment styles tend to shift in and
out of favor depending upon market and economic conditions as well as investor
sentiment.  Examples of different investment styles include growth and value
investing.  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.  Also, since growth companies usually invest a high
portion of earnings in their business, growth stocks may lack the dividends of
some value stocks that can cushion stock prices in a falling market.  Growth
oriented funds may underperform when value investing is in favor.  Value
stocks are those that are undervalued in comparison to their peers due to
adverse business developments or other factors.  Value investing carries
the risk that the market will not recognize a security's inherent value for a
long time, or that a stock judged to be undervalued may actually be
appropriately priced or overvalued. Value oriented funds may underperform when
growth investing is in favor.

o  Management Risk: The value of your investment may decrease if the sub-advisor's
judgment about the attractiveness, value or market trends affecting a
particular security, issuer, industry or sector or about market movements
is incorrect.

o  Market Risk: Market risk is the risk that the market value of a security
may fluctuate, sometimes rapidly and unpredictably.

o  Merger Arbitrage Risk: Investments in companies that are expected to be,
or already are, the subject of a publicly announced transaction carry the risk
that the proposed or expected transaction may not be completed or may be
completed on less favorable terms than originally expected, which may lower
performance.

o  Mortgage-Backed Securities and Asset-Backed Securities Risk:  Mortgage-backed
securities are fixed income securities representing an interest in a pool
of underlying mortgage loans. They are sensitive to changes in interest rates,
but may respond to these changes differently from other fixed income securities
due to the possibility of prepayment of the underlying mortgage loans. As a
result, it may not be possible to determine in advance the actual maturity date
or average life of a mortgage-backed security. Rising interest rates tend to
discourage refinancings, with the result that the average life and volatility
of a mortgage-backed security will increase and its market price will decrease.
When interest rates fall, however, mortgage-backed securities may not gain as
much in market value because of the expectation of additional mortgage
prepayments that must be reinvested at lower interest rates. Prepayment risk
may make it difficult to calculate the average maturity of a portfolio of
mortgage-backed securities and, therefore, to assess the volatility risk of
that portfolio. In addition, mortgage-backed securities may fluctuate in
price based on deterioration in the perceived or actual of the value of the
collateral underlying the pool of mortgage loans, typically residential or
commercial real estate, which may result in negative amortization or negative
equity meaning that the value of the collateral would be worth less than the
remaining principal amount owed on the mortgages in the pool.  An underlying
fund's investments in other asset-backed securities are subject to risks similar
to those associated with mortgage-backed securities, as well as additional risks
associated with the nature of the assets (credit card receivables, automobile
financing loans, etc.) and the servicing of the assets.

o  Non-Diversification Risk:  Certain of the underlying funds are considered
non-diversified and can invest a greater portion of their assets in securities
of individual issuers than a diversified fund.  As a result, changes in the market
value of a single issuer could cause greater fluctuations in the value of
underlying fund shares than would occur in an underlying diversified fund.
  
o  Real Estate Investment Trust ("REITs") Risk:  REITs are pooled investment
vehicles that primarily invest in commercial real estate or real estate-related
loans. REITs are susceptible to the risks associated with direct ownership of
real estate, such as declines in property values, increases in property taxes,
operating expenses, rising interest rates or competition, overbuilding, zoning
changes, and losses from casualty or condemnation. REITs typically incur fees
that are separate from those of an underlying fund. Accordingly, an underlying
fund's investments in REITs will result in the layering of expenses, such that
shareholders will indirectly bear a proportionate share of the REITs' operating
expenses, in addition to paying fund expenses.

o  Sector Focus Risk:  An underlying fund that focuses its investments in the
securities of a particular market sector is subject to the risk that adverse
circumstances will have a greater impact on that underlying fund than an
underlying fund that does not focus its investments in a particular sector. It
is possible that economic, business or political developments or other changes
affecting one security in the area of focus will affect other securities in that
area of focus in the same manner, thereby increasing the risk of such investments.

o  Short Sales Risk:  When selling a security short, an underlying fund will sell
a security it does not own at the then-current market price.  An underlying fund
borrows the security to deliver to the buyer and is obligated to buy the security
at a later date so it can return the security to the lender.  If a security sold
short increases in price, an underlying fund may have to cover its short position
at a higher price than the short sale price, resulting in a loss.  To borrow the
security, an underlying fund also may be required to pay a premium, which would
increase the cost of the security sold short.  The amount of any gain will be
decreased, and the amount of any loss increased, by the amount of the premium,
dividends, interest or expenses an underlying fund may be required to pay in
connection with the short sale.  In addition, a lender may request, or market
conditions may dictate, that securities sold short be returned to the lender on
short notice, and an underlying fund may have to buy the securities sold short
at an unfavorable price.  If this occurs, any anticipated gain to an underlying
fund may be reduced or eliminated or the short sale may result in a loss.  In
addition, because an underlying fund's loss on a short sale arises from increases
in the value of the security sold short, such loss is theoretically unlimited.  
By contrast, an underlying fund's loss on a long position arises from decreases
in the value of the security and is limited by the fact that a security's value
cannot drop below zero.

o  U.S. Government Securities and U.S. Government Agencies Risk:  U.S. Government
Securities are not guaranteed against price movements due to changing interest
rates. Certain securities issued by agencies and instrumentalities of the U.S.
Government are backed by the full faith and credit of the U.S. Government, such
as securities issued by the Government National Mortgage Association. Others are
not insured or guaranteed by the U.S. Government and may be supported only by
the issuer's right to borrow from the U.S. Treasury, subject to certain limits,
such as securities issued by Federal Home Loan Banks, or by the credit of the
issuing agency and the discretionary authority of the U.S. Government to
purchase certain obligations, such as Freddie Mac, Tennessee Valley Authority
and Student Loan Marketing Association, or only by the credit of the issuing
agency, such as Federal Farm Credit Banks.

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 "Investment Strategies and Risks" section of the Fund's
Prospectus.

The Fund's Performance

The bar chart and the performance table below illustrate 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 1 year, 5 years and since inception compare
with the Barclays U.S. Aggregate Bond Index and Standard & Poor's Composite 1500
Index.  The bar chart does not reflect any sales charges, which would reduce
your return.  The returns achieved prior to November 19, 2007 were under a fund
of managers structure.  For more information on the prior history of the Fund,
please see the section entitled "The Trust" in the Fund's Statement of
Additional Information.  Past performance (before and after taxes) does not
necessarily indicate how the Fund will perform in the future.  Updated
performance is available at no cost by visiting www.TouchstoneInvestments.com or
by calling 1.800.543.0407.

Touchstone Balanced Allocation Fund - Institutional shares Total Return as of December 31

Best Quarter:                Worst Quarter:
Second Quarter 2009 +14.93%   Fourth Quarter 2008 -12.37%

After-tax returns are calculated using the historical highest individual federal
marginal income tax rates and do not reflect the impact of state and local taxes.
Your 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 IRA, 401(k) or other
tax-deferred account.  After-tax returns are only shown for Institutional shares
and after-tax returns for other Classes will vary.

Institutional shares, Class A shares and Class C shares began operations on
September 30, 2004 and Class Y shares began operations on December 9, 2005.
Class Y shares performance was calculated using the historical performance of
Institutional shares for the periods prior to December 9, 2005.

Average Annual Total Returns For the periods ended December 31, 2011

Average Annual Total Returns Touchstone Balanced Allocation Fund	Average Annual Returns, Label	Average Annual Returns, 1 Year	Average Annual Returns, 5 Years	Average Annual Returns, Since Inception	Average Annual Returns, Inception Date
Class A	Class A Return Before Taxes	(4.64%)	0.93%	4.01%	Sep. 30, 2004
Class C	Class C Return Before Taxes	(0.57%)	1.38%	4.11%	Sep. 30, 2004
Class Y	Class Y Return Before Taxes	1.35%	2.38%	5.12%	Sep. 30, 2004
Institutional	Institutional Return Before Taxes	1.45%	2.37%	5.12%	Sep. 30, 2004
Institutional After Taxes on Distributions	Institutional Return After Taxes on Distributions	0.68%	0.77%	3.77%	Sep. 30, 2004
Institutional After Taxes on Distributions and Sales	Institutional Return After Taxes on Distributions and Sale of Fund Shares	0.94%	1.13%	3.67%	Sep. 30, 2004
Barclays U.S. Aggregate Bond Index	Barclays U.S. Aggregate Bond Index (reflects no deduction for fees, expenses or taxes)	7.84%	6.50%	5.53%	Sep. 30, 2004
Standard & Poor's Composite 1500 Index	Standard & Poor's Composite 1500 Index (reflects no deduction for fees, expenses or taxes)	1.75%	0.11%	4.16%	Sep. 30, 2004

[1] "Other Expenses" and "Acquired Fund Fees and Expenses" have been restated to reflect estimated amounts for the current fiscal year.

[2] Touchstone Advisors and the Trust have entered into an expense limitation agreement whereby Touchstone Advisors has contractually agreed to waive a portion of its fees and/or reimburse certain Fund expenses in order to limit annual fund operating expenses to 0.64%, 1.39%, 0.39% and 0.39% for Class A shares, Class C shares, Class Y shares and Institutional shares, respectively. This expense limitation will remain in effect until at least April 16, 2014 but can be terminated by a vote of the Board of Trustees of the Fund if they deem the termination to be beneficial to the Fund shareholders. Touchstone Advisors is entitled to recover, subject to approval by the Board of Trustees of the Fund, such amounts reduced or reimbursed for a period of up to three (3) years from the year in which Touchstone Advisors reduced its compensation and/or assumed expenses for the Fund. No recoupment will occur unless the Fund's expenses are below the expense limitation. See the discussion entitled "Contractual Fee Waiver Agreement" under the section entitled "The Funds' Management" in the Fund's prospectus for more information.