Touchstone International Small Cap Fund (Prospectus Summary) | Touchstone International Small Cap Fund

TOUCHSTONE INTERNATIONAL SMALL CAP FUND SUMMARY

The Fund's Investment Goal

The Fund seeks to provide investors with capital appreciation.

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 58 and
in the section entitled "Choosing a Share Class" in the Fund's Statement of
Additional Information on page 86.

Shareholder Fees (fees paid directly from your investment)

Shareholder Fees Touchstone International Small Cap 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 International Small Cap Fund		Class A	Class C	Class Y	Institutional
Management Fees		0.95%	0.95%	0.95%	0.95%
Distribution and/or Service (12b-1) Fees		0.25%	1.00%	none	none
Other Expenses	[1]	1.45%	0.63%	0.66%	0.96%
Total Annual Fund Operating Expenses		2.65%	2.58%	1.61%	1.91%
Fee Waivers and/or Expense Reimbursement	[2]	(1.10%)	(0.28%)	(0.31%)	(0.86%)
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursement		1.55%	2.30%	1.30%	1.05%

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 International Small Cap Fund (USD $)	Class A	Class C	Class Y	Institutional
Expense Example, With Redemption, 1 Year	724	333	132	107
Expense Example, With Redemption, 3 Years	1,148	747	446	427
Expense Example, With Redemption, 5 Years	1,708	1,318	818	865
Expense Example, With Redemption, 10 Years	3,228	2,870	1,863	2,084

Assuming No Redemption

Expense Example, No Redemption (USD $)	Touchstone International Small Cap Fund Class C
Expense Example, No Redemption, 1 Year	233
Expense Example, No Redemption, 3 Years	747
Expense Example, No Redemption, 5 Years	1,318
Expense Example, No Redemption, 10 Years	2,870

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 fiscal year ended March 31, 2011,
the portfolio turnover rate of the Fund was 151.76% of the
average value of its portfolio.

The Fund's Principal Investment Strategies

The Fund normally invests at least 80% of its assets in equity securities of
non-U.S. small-cap companies, including companies located in countries with
emerging markets.  This is a non-fundamental investment policy that can be
changed by the Fund upon 60 days' prior notice to shareholders.  For purposes of
this Fund, small cap companies are those companies with market capitalizations
at the time of investment similar to the market capitalizations of companies in
the S&P Developed ex-U.S. SmallCap Index (between approximately $6.4 million and
$11.2 billion as of its most recent reconstitution on September 19, 2011).  The
size of the companies in the S&P Developed ex-U.S. SmallCap Index will change
with market conditions.  Equity securities include common and preferred stocks
and American Depositary Receipts ("ADRs").
  
The Fund's sub-advisor, Copper Rock Capital Partners LLC ("Copper Rock"),
applies a blend of fundamental and quantitative analyses to generate the initial
investment ideas.  Copper Rock's investment process seeks to add value through
bottom-up stock selection and in-depth fundamental research.  When identifying
potential investments, Copper Rock will typically examine a company's financial
condition, management team, business prospects, competitive position and overall
business strategy.  Copper Rock looks for companies it believes have strong
management, superior earnings growth prospects and attractive relative
valuations.  Copper Rock typically sells or reduces a position when the target
price for a stock is attained, there is a change in the company's management
team or business objectives, or when there is deterioration in a company's
fundamentals.  Copper Rock seeks to construct a portfolio that is diversified
across sectors and industries.

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.
  
ADR Risk: The risks of ADRs 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.
  
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.  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.
  
Market Risk: Market risk is the risk that the market value of a security may
fluctuate, sometimes rapidly and unpredictably.
  
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.
  
Small Cap Risk:  The 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.

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 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.

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 Fund's investments in emerging market countries,
which may be magnified by currency fluctuations relative to the U.S. dollar.

Portfolio Turnover Risk: The risk that high portfolio turnover is likely to lead
to increased Fund expenses that may result in lower investment returns. High
portfolio turnover is also likely to result in higher short-term capital gains
taxable to shareholders.

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

^[1]

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 10 years compare with the
S&P Developed ex-U.S. SmallCap Index.  The bar chart does not reflect any sales
charges, which would reduce your return.  Effective May 23, 2011, the Fund's
investment strategy changed from a domestic small cap strategy to an
international small cap strategy.  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 International Small Cap Fund -Class Y shares Total Return as of December 31

Best Quarter:                Worst Quarter:       
Second Quarter 2003 +25.57%   Fourth Quarter 2008 -22.50%

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
Class Y shares and after-tax returns for other Classes will vary.
  
Class Y shares began operations on December 31, 1996, Class A shares began
operations on July 31, 2003 and Institutional shares began operations on
December 20, 2006.  Class A shares and Institutional shares performance was
calculated using the historical performance of Class Y shares for the periods
prior to July 31, 2003 and December 20, 2006, respectively.  The Class A shares
performance for this period has been restated to reflect the impact of Class A
shares fees and expenses.

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

Average Annual Total Returns Touchstone International Small Cap Fund	Average Annual Returns, Label	Average Annual Returns, 1 Year	Average Annual Returns, 5 Years	Average Annual Returns, 10 Years
Class A	Class A Return Before Taxes	(12.82%)	(2.02%)	1.99%
Class Y	Class Y Return Before Taxes	(7.35%)	(0.64%)	2.23%
Class Y After Taxes on Distributions	Class Y Return After Taxes on Distributions	(8.02%)	(1.90%)	1.16%
Class Y After Taxes on Distributions and Sales	Class Y Return After Taxes on Distributions and Sale of Fund Shares	(4.78%)	(1.09%)	1.62%
Institutional	Institutional Return Before Taxes	(7.02%)	(0.45%)	2.33%
S&P Developed ex-U.S. SmallCap Index	S&P Developed ex-U.S. SmallCap Index (reflects no deduction for fees, expenses or taxes)	(14.49%)	(3.21%)	9.43%

[1] "Other 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 1.55%, 2.30%, 1.30% and 1.05% 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.

[1] Class C shares have not been operational and offered prior to the date of this prospectus. Class C shares would have had substantially similar annual returns because the shares are invested in the same portfolio. Annual returns would differ only to the extent that the Classes have different expenses.