Touchstone Advisors has adopted the US mutual funds managed by DSM Capital Partners, gaining roughly USD202 million in assets and a new growth stock sub-adviser with strong, long-term performance records in US large cap growth and global growth equities.
Touchstone, a wholly owned subsidiary of Western & Southern Financial Group, now has roughly USD16 billion in assets under management (as of 15 August), and an expanded line-up of 35 mutual funds, managed by Touchstone Advisors and sub-advised by 18 institutional investment managers.
As part of the adoption, the DSM Large Cap Growth Fund was reorganised into the Touchstone Large Company Growth Fund. The DSM Global Growth Fund and the DSM Global Growth & Income Fund were reorganised into the Touchstone Global Growth Fund. The new funds retain DSM as sub-adviser and will continue to benefit from the 10-person strong DSM investment team led by Daniel Strickberger, chief investment officer of DSM.
With the adoption, Touchstone created new share classes for the funds, which previously only offered an institutional share class.
"We are elated to join together with DSM to offer such accomplished strategies to Touchstone's advisers and shareholders," says Steven M Graziano (pictured), president of Touchstone Investments. "DSM is perfectly reflective of the institutional investment boutiques, highly active strategies and demonstrated performance success that investors have come to expect from Touchstone sub-advisers and funds."
"Our partnership with Touchstone allows DSM to continue to serve fund shareholders by sub-advising the funds while leveraging Touchstone's product, marketing and distribution expertise. It was important to us to partner with a firm like Touchstone whose philosophy regarding active equity management is so much like our own," says Strickberger.