Touchstone to liquidate Ohio, national municipal funds in March

By Toni Weeks

San Luis Obispo, Calif., Nov. 21 – The board of trustees of Touchstone Tax-Free Trust approved at a meeting on Nov. 20 a plan to close and liquidate the Touchstone Ohio Tax-Free Money Market Fund and the Touchstone Tax-Free Money Market Fund, according to a 497 filing with the Securities and Exchange Commission.

The liquidation of each fund is subject to approval by a majority of each fund’s shareholders. A combined meeting of shareholders is expected to be held on Feb. 20. If approved, the liquidation will occur March 20.

The Ohio fund seeks the highest level of current income exempt from federal income tax and Ohio personal income tax, consistent with liquidity and stability of principal, and invests primarily in high-quality, short-term Ohio municipal obligations issued by the state of Ohio, its agencies and municipalities that pay interest that is exempt from both federal income tax and Ohio personal income tax.

The second fund seeks the highest level of interest income exempt from federal income tax, consistent with the protection of capital. It invests primarily in high-quality, short-term municipal obligations that pay interest that is exempt from federal income tax.

Hartford-based Touchstone Advisors, Inc. is the investment adviser to the funds.

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