
Touchstone Sands Capital International Growth Equity Fund Q3 2025 Portfolio Update
The Touchstone Sands Capital International Growth Fund (Class A Shares, Load Waived) underperformed the MSCI ACWI ex-U.S. Index for the quarter ended September 30, 2025. The top absolute contributors to investment results during the quarter were Shopify, Taiwan Semiconductor, and Sea Ltd. The top absolute detractors to investment results were Constellation Software, CTS Eventim AG, and MercadoLibre.

















