X0101 EFFECT 33 LIVE 2015-10-27 11:30:00

N-14

0000920547 TOUCHSTONE VARIABLE SERIES TRUST 333-207102 0000920547 TOUCHSTONE VARIABLE SERIES TRUST S000003147 Active Bond Fund C000008521 Active Bond Fund 0000920547 TOUCHSTONE VARIABLE SERIES TRUST S000003140 High Yield Fund C000008513 High Yield Fund