Touchstone Investments is no longer using TCW Investment Management as a sub-advisor for its Mid-Cap Growth Fund. The Cincinnati-based mutual fund firm tapped Westfield Capital Management, which has sub-advised the fund since its inception in 1994, as the sole sub-advisor. [SEC filing]

Prior to the change, Westfield managed 60 percent of the fund's assets, while TCW managed 40 percent.

Touchstone officials said the switch to a single sub-advisor structure enables the firm to pass along economy-of-scale benefits to shareholders, thereby resulting in lower fund expenses.

"We believe that using a single-sub-advisor for this fund is in the best long-term interest of shareholders," said Touchstone Investments president Steve Graziano in a press release. "Along with the expense reduction, Touchstone believes that this change will potentially result in increased assets, which will provide further economies of scale."

Company Press Release

Touchstone Investments Names Westfield Capital Management Company Sole Sub-advisor of Touchstone Mid Cap Growth Fund

� Move will reduce fund expenses, management fees �

CINCINNATI � Feb. 23, 2011 � Touchstone Investments announced today that Westfield Capital Management Company (Westfield), sub-advisor of the Touchstone Mid Cap Growth Fund since its inception in 1994, has been named the sole sub-advisor of the Fund, effective Feb. 23, 2011. Previously, Westfield managed 60 percent of the Fund's assets with the remaining 40 percent managed by TCW Investment Management Company.

By shifting the Fund to a single sub-advisor, Touchstone is able to pass along economy-of-scale benefits to Fund shareholders, resulting in a reduction in Fund expenses (Class A shares: 1.50 percent to 1.43 percent) and management fees (0.80 percent flat fee to breakpoints starting at 0.75 percent of assets under management) effective on March 1, 2011.

"We believe that using a single-sub-advisor for this Fund is in the best long-term interest of shareholders," said Steve Graziano, president of Touchstone Investments. "Along with the expense reduction, Touchstone believes that this change will potentially result in increased assets, which will provide further economies of scale."

Shareholders will have full access to Westfield's mid cap growth investment strategy, which applies extensive fundamental research to identify companies that Westfield believes have shown above-average and consistent long-term growth in earnings and have excellent prospects for future growth.

"This decision eliminates some of the concerns and confusion that many of our clients have expressed regarding the appropriateness of this Fund for asset allocation strategies" Graziano said. "In its reincarnated form, this Fund provides shareholders with greater style purity within the mid cap growth category."

The Fund's daily portfolio decisions will continue to be made by Westfield's Investment Committee chaired by William A. Muggia. The committee divides investment responsibility among a team of seasoned industry/sector specialists who average 20 years of investment experience. Muggia, who is also president, chief executive officer, and chief investment officer of Westfield, has worked at Westfield since 1994 and has investment experience that dates back to 1984.

About Touchstone Investments

Touchstone Investments is committed to providing access to a distinctive selection of institutional asset managers whose strategies are typically not available to the average investor. Known and respected for proficiency in their specific area of expertise, Touchstone�s sub-advisors have been carefully researched, selected and monitored based on Touchstone�s disciplined, five-factor due diligence process. Touchstone believes that this comprehensive approach to selecting and monitoring sub-advisors helps to maximize fund performance over time. The Touchstone Funds are offered nationally through intermediaries including broker-dealers, financial planners, registered investment advisors and institutions by Touchstone Securities, Inc.1 and advised by Touchstone Advisors, Inc.2 For more information please call 1.800.638.8194 or visit www.touchstoneinvestments.com.

About Westfield Capital Management
Westfield Capital Management is an SEC-registered investment advisor dedicated to providing quality investment management services to institutions and wealthy individuals. Westfield supervises domestic growth equities, with products focusing on each segment of the capitalization spectrum. Westfield�s team of 14 investment professionals employs an in-depth, fundamental research process to uncover growth opportunities not yet fully appreciated by the market. Assets under management as of December 31, 2010 were $15.1 billion.

Edited by: Armie Margaret Lee

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