Touchstone Investments is closing one fund and transferring its assets into another fund that, essentially, does the same thing.
Specifically, shareholder of the Touchstone Focused Equity Fund (TFEIX), will see their fund merged into the Touchstone Focused Fund (TFFYX) as of May 17. The Focused Equity fund launched in December 2009 and managed $158 million as of April 24. Its larger sister fund launched in February 1999 and managed some $587 million. Both funds are managed by James Wilhelm.
The Cincinnati-based firm has been busy as of late rejiggering its fund lineup. Last month, it closed its Touchstone Sands Capital Select Growth Fund, Touchstone Sands Capital Institutional Growth Fund, and Touchstone Merger Arbitrage Fund to new investors, and swapped out subadvisors for its Touchstone Global Real Estate Fund.