TOUCHSTONE
STRATEGIC TRUST
Touchstone Dynamic Large Cap
Growth Fund (the “Target Fund”)
Supplement dated September 21, 2026 to the Prospectus, Summary Prospectus,
and Statement of Additional Information dated July
29, 2026
IMPORTANT NOTICE REGARDING
CHANGES TO THE TARGET FUND
In a supplement dated August 20, 2026, the proposed conversion of the Target Fund, a mutual fund series of Touchstone Strategic Trust
(the “Trust”), from a mutual fund to an exchange-traded fund (an “ETF”) through the reorganization of the Target Fund into a newly
created ETF series of Touchstone ETF Trust (the “Reorganization”), was announced. The newly created ETF will serve as the acquiring fund in the Reorganization (the “Acquiring ETF” and together with the Target Fund, the “Funds”). The Reorganization does not require shareholder approval and is expected to be tax-free for U.S. federal income tax purposes.
Under the terms of the Agreement and Plan of Reorganization, the
Target Fund would transfer all of its assets to the Acquiring ETF in exchange for shares of the Acquiring ETF. The Acquiring ETF would also assume all of
the Target Fund's liabilities. The shares of the Acquiring ETF would then be distributed to the Target Fund's shareholders, and the Target Fund would be
terminated.
Prior to the Reorganization, any dividends paid by the Target Fund will be paid in accordance with the current dividend option of an account; accounts in which the dividend reinvestment option has been chosen will receive any dividends in the form of additional shares of the Target Fund.
A Prospectus/Information Statement containing more information regarding the Reorganization will be filed with the Securities and Exchange Commission (the “SEC”), and once effective, will be mailed to Target Fund shareholders on or about December 23, 2026. Shareholders of the Target Fund will not pay any sales load, commission, or other similar fee in connection with the Acquiring ETF shares received in the Reorganization. The Reorganization is expected to be completed on or about January 22, 2027, or as soon as practicable thereafter. Expenses associated with the Reorganization will be borne by Touchstone Advisors, Inc. (“Touchstone”).
In connection with the Reorganization, it is expected that the
Target Fund will close to new fund direct shareholders on or about October 21, 2026. Current Target Fund shareholders or those purchasing through a
brokerage account at a financial intermediary may continue to purchase shares of the Target Fund until December 31, 2026.
After the Reorganization, shareholders may only purchase or sell
shares of the Acquiring ETF on a national securities exchange at prevailing market prices through a brokerage account at a financial intermediary.
More Information About the
Funds
Touchstone serves as the investment
adviser to the Target Fund and will also serve as the investment adviser to the Acquiring ETF. The Target Fund’s sub-adviser, Los Angeles Capital
Management, LLC, will serve as sub-adviser to the Acquiring ETF. The Acquiring ETF’s investment goal and principal investment strategies and risks
will be identical to the Target Fund’s investment goal and principal investment strategies and risks. The Acquiring ETF, however, will be subject to certain risks
unique to operating as an ETF.
You can obtain a copy of the prospectus or SAI for the Acquiring ETF, once available, by visiting the website at TouchstoneInvestments.com/ETFs, by calling (833) 368-7383, or by contacting your financial adviser.