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<PAGE> PAGE 2
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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070 C020400 Y
070 D010400 Y
070 D020400 N
070 E010400 N
070 E020400 N
070 F010400 Y
070 F020400 N
070 G010400 Y
070 G020400 N
070 H010400 Y
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 Y
070 K010400 Y
070 K020400 N
070 L010400 Y
070 L020400 Y
070 M010400 Y
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 Y
070 P020400 N
070 Q010400 N
<PAGE> PAGE 21
070 Q020400 N
070 R010400 N
070 R020400 N
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071 B000400 55046
071 C000400 31417
071 D000400 175
072 A000400 12
072 B000400 3758
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072CC020400 4419
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074 B000400 0
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<PAGE> PAGE 22
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074 S000400 0
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008 A000501 TOUCHSTONE ADVISORS, INC.
008 B000501 A
008 C000501 801-45963
008 D010501 CINCINNATI
008 D020501 OH
008 D030501 45202
008 A000502 FORT WASHINGTON INVESTMENT ADVISORS, INC.
008 B000502 S
008 C000502 801-37235
008 D010502 CINCINNATI
008 D020502 OH
008 D030502 45202
015 A000501 INVESTORS BANK & TRUST COMPANY
015 B000501 C
015 C010501 BOSTON
015 C020501 MA
015 C030501 02116
015 E010501 X
028 A010500 1162
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<PAGE> PAGE 23
028 B040500 950
028 C010500 4344
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045 000500 Y
046 000500 N
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062 A000500 Y
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<PAGE> PAGE 24
062 D000500 0.0
062 E000500 0.0
062 F000500 0.0
062 G000500 0.0
062 H000500 0.0
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062 O000500 0.0
062 P000500 6.8
062 Q000500 36.1
062 R000500 0.0
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063 B000500 0.0
064 A000500 N
064 B000500 N
066 A000500 N
067 000500 N
068 A000500 N
068 B000500 N
069 000500 N
070 A010500 Y
070 A020500 N
070 B010500 Y
070 B020500 N
070 C010500 Y
070 C020500 N
070 D010500 Y
070 D020500 N
070 E010500 N
070 E020500 N
070 F010500 Y
070 F020500 N
070 G010500 Y
070 G020500 N
070 H010500 Y
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 Y
070 J020500 N
070 K010500 Y
070 K020500 N
070 L010500 Y
070 L020500 N
070 M010500 Y
070 M020500 N
070 N010500 Y
<PAGE> PAGE 25
070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 Y
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
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071 B000500 21482
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<PAGE> PAGE 26
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076 000500 0.00
008 A000601 TOUCHSTONE ADVISORS, INC
008 B000601 A
008 C000601 801-45963
008 D010601 CINCINNATI
008 D020601 OH
008 D030601 45202
008 A000602 FORT WASHINGTON INVESTMENT ADVISORS, INC
008 B000602 S
008 C000602 801-37235
008 D010602 CINCINNATI
008 D020602 OH
008 D030602 45202
015 A000601 INVESTORS BANK & TRUST COMPANY
015 B000601 C
015 C010601 BOSTON
015 C020601 MA
015 C030601 02116
015 E010601 X
028 A010600 631
<PAGE> PAGE 27
028 A020600 0
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045 000600 Y
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<PAGE> PAGE 28
048 J020600 0.000
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066 A000600 Y
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070 B020600 N
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070 D020600 N
070 E010600 N
070 E020600 N
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070 F020600 N
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070 G020600 N
070 H010600 Y
070 H020600 N
070 I010600 N
070 I020600 N
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070 J020600 N
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070 K020600 N
<PAGE> PAGE 29
070 L010600 Y
070 L020600 N
070 M010600 Y
070 M020600 N
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070 N020600 N
070 O010600 Y
070 O020600 N
070 P010600 Y
070 P020600 N
070 Q010600 N
070 Q020600 N
070 R010600 N
070 R020600 N
071 A000600 4708
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<PAGE> PAGE 30
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SIGNATURE TIMOTHY F. OSBORNE
TITLE ASST. TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from Touchstone Variable Insuran
financial statements at December 31, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 011
<NAME> Touchstone Emerging Growth Portfolio
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 26,231,211
<INVESTMENTS-AT-VALUE> 28,754,795
<RECEIVABLES> 2,828,468
<ASSETS-OTHER> 3,467
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 31,586,730
<PAYABLE-FOR-SECURITIES> 127,890
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 194,937
<TOTAL-LIABILITIES> 322,827
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 28,584,379
<SHARES-COMMON-STOCK> 2,038,737
<SHARES-COMMON-PRIOR> 1,260,959
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 155,940
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,523,584
<NET-ASSETS> 31,263,903
<DIVIDEND-INCOME> 195,612
<INTEREST-INCOME> 133,513
<OTHER-INCOME> 0
<EXPENSES-NET> 293,949
<NET-INVESTMENT-INCOME> 35,176
<REALIZED-GAINS-CURRENT> 993,434
<APPREC-INCREASE-CURRENT> (296,091)
<NET-CHANGE-FROM-OPS> 697,343
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 49,174
<DISTRIBUTIONS-OF-GAINS> 1,035,008
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 892,493
<NUMBER-OF-SHARES-REDEEMED> 188,219
<SHARES-REINVESTED> 73,504
<NET-CHANGE-IN-ASSETS> 11,846,953
<ACCUMULATED-NII-PRIOR> 3,217
<ACCUMULATED-GAINS-PRIOR> 208,293
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 204
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 380,695
<AVERAGE-NET-ASSETS> 25,560,764
<PER-SHARE-NAV-BEGIN> 15.40
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 0.46
<PER-SHARE-DIVIDEND> 0.03
<PER-SHARE-DISTRIBUTIONS> 0.52
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.33
<EXPENSE-RATIO> 1.15
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from Touchstone Variable Insuran
financial statements at December 31, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 012
<NAME> Touchstone International Equity Portfolio
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 26,545,659
<INVESTMENTS-AT-VALUE> 31,344,325
<RECEIVABLES> 2,625,978
<ASSETS-OTHER> 3,467
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 33,973,770
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 160,744
<TOTAL-LIABILITIES> 160,744
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 29,242,515
<SHARES-COMMON-STOCK> 2,421,891
<SHARES-COMMON-PRIOR> 1,640,973
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 186,882
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 39,788
<ACCUM-APPREC-OR-DEPREC> 4,797,181
<NET-ASSETS> 33,813,026
<DIVIDEND-INCOME> 387,564
<INTEREST-INCOME> 106,869
<OTHER-INCOME> 0
<EXPENSES-NET> 355,395
<NET-INVESTMENT-INCOME> 139,038
<REALIZED-GAINS-CURRENT> 748,210
<APPREC-INCREASE-CURRENT> 3,381,779
<NET-CHANGE-FROM-OPS> 4,269,027
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 270,954
<DISTRIBUTIONS-OF-GAINS> 845,182
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 869,535
<NUMBER-OF-SHARES-REDEEMED> 168,341
<SHARES-REINVESTED> 79,724
<NET-CHANGE-IN-ASSETS> 14,110,295
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 58,471
<OVERDISTRIB-NII-PRIOR> 56,246
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 270,100
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 554,966
<AVERAGE-NET-ASSETS> 28,431,588
<PER-SHARE-NAV-BEGIN> 12.01
<PER-SHARE-NII> 0.06
<PER-SHARE-GAIN-APPREC> 2.37
<PER-SHARE-DIVIDEND> 0.10
<PER-SHARE-DISTRIBUTIONS> 0.38
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.96
<EXPENSE-RATIO> 1.25
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from Touchstone Variable Insuran
financial statements at December 31, 1997
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 013
<NAME> Touchstone Balanced Portfolio
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 39,439,057
<INVESTMENTS-AT-VALUE> 39,514,246
<RECEIVABLES> 1,937,678
<ASSETS-OTHER> 3,467
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 41,455,391
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 205,672
<TOTAL-LIABILITIES> 205,672
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 40,767,171
<SHARES-COMMON-STOCK> 2,955,100
<SHARES-COMMON-PRIOR> 1,592,899
<ACCUMULATED-NII-CURRENT> 20,627
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 394,283
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 67,638
<NET-ASSETS> 41,249,719
<DIVIDEND-INCOME> 241,554
<INTEREST-INCOME> 957,009
<OTHER-INCOME> 0
<EXPENSES-NET> 301,413
<NET-INVESTMENT-INCOME> 897,150
<REALIZED-GAINS-CURRENT> 1,451,424
<APPREC-INCREASE-CURRENT> (1,134,565)
<NET-CHANGE-FROM-OPS> 1,214,009
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 933,379
<DISTRIBUTIONS-OF-GAINS> 1,163,140
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,468,902
<NUMBER-OF-SHARES-REDEEMED> 257,510
<SHARES-REINVESTED> 150,809
<NET-CHANGE-IN-ASSETS> 18,962,652
<ACCUMULATED-NII-PRIOR> 14,838
<ACCUMULATED-GAINS-PRIOR> 148,018
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 267,938
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 460,471
<AVERAGE-NET-ASSETS> 33,492,273
<PER-SHARE-NAV-BEGIN> 13.99
<PER-SHARE-NII> 0.35
<PER-SHARE-GAIN-APPREC> 0.40
<PER-SHARE-DIVIDEND> 0.37
<PER-SHARE-DISTRIBUTIONS> 0.41
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.96
<EXPENSE-RATIO> 0.90
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from Touchstone Variable Insuran
financial statements at December 31, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 014
<NAME> Touchstone Income Opportunity Portfolio
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 37,422,665
<INVESTMENTS-AT-VALUE> 32,773,952
<RECEIVABLES> 1,894,900
<ASSETS-OTHER> 3,467
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 34,672,319
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 178,306
<TOTAL-LIABILITIES> 178,306
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 43,631,963
<SHARES-COMMON-STOCK> 3,971,175
<SHARES-COMMON-PRIOR> 2,439,073
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 4,489,001
<ACCUM-APPREC-OR-DEPREC> (4,648,949)
<NET-ASSETS> 34,494,013
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3,762,184
<OTHER-INCOME> 0
<EXPENSES-NET> 283,893
<NET-INVESTMENT-INCOME> 3,478,291
<REALIZED-GAINS-CURRENT> (4,004,977)
<APPREC-INCREASE-CURRENT> (4,418,973)
<NET-CHANGE-FROM-OPS> (4,945,659)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 3,478,834
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 96,964
<NUMBER-OF-SHARES-SOLD> 1,636,452
<NUMBER-OF-SHARES-REDEEMED> 474,021
<SHARES-REINVESTED> 369,671
<NET-CHANGE-IN-ASSETS> 7,614,602
<ACCUMULATED-NII-PRIOR> 543
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 484,024
<GROSS-ADVISORY-FEES> 217,105
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 417,711
<AVERAGE-NET-ASSETS> 33,400,798
<PER-SHARE-NAV-BEGIN> 11.02
<PER-SHARE-NII> 1.02
<PER-SHARE-GAIN-APPREC> (2.30)
<PER-SHARE-DIVIDEND> 1.02
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 8.69
<EXPENSE-RATIO> 0.85
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from Touchstone Variable Insuran
financial statements at December 31, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 015
<NAME> Touchstone Standby Income Portfolio
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 26,248,751
<INVESTMENTS-AT-VALUE> 26,254,883
<RECEIVABLES> 307,927
<ASSETS-OTHER> 3,496
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 26,566,306
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 116,366
<TOTAL-LIABILITIES> 116,366
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 26,440,029
<SHARES-COMMON-STOCK> 2,642,337
<SHARES-COMMON-PRIOR> 1,755,724
<ACCUMULATED-NII-CURRENT> 3,709
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 70
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 6,132
<NET-ASSETS> 26,449,940
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,358,522
<OTHER-INCOME> 0
<EXPENSES-NET> 113,683
<NET-INVESTMENT-INCOME> 1,244,839
<REALIZED-GAINS-CURRENT> 12,585
<APPREC-INCREASE-CURRENT> 6,334
<NET-CHANGE-FROM-OPS> 1,263,758
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,244,085
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,223,752
<NUMBER-OF-SHARES-REDEEMED> 1,461,706
<SHARES-REINVESTED> 124,567
<NET-CHANGE-IN-ASSETS> 8,887,739
<ACCUMULATED-NII-PRIOR> 1,366
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 10,925
<GROSS-ADVISORY-FEES> 56,841
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 215,670
<AVERAGE-NET-ASSETS> 22,736,577
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.55
<PER-SHARE-GAIN-APPREC> 0.01
<PER-SHARE-DIVIDEND> 0.55
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.01
<EXPENSE-RATIO> 0.50
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from Touchstone Variable Insuran
financial statements at December 31, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 016
<NAME> Touchstone Value Plus Portfolio
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 2,591,965
<INVESTMENTS-AT-VALUE> 2,847,922
<RECEIVABLES> 274,938
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 66,315
<TOTAL-ASSETS> 3,189,175
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 21,501
<TOTAL-LIABILITIES> 21,501
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,151,602
<SHARES-COMMON-STOCK> 311,304
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 239,885
<ACCUM-APPREC-OR-DEPREC> 255,957
<NET-ASSETS> 3,167,674
<DIVIDEND-INCOME> 16,202
<INTEREST-INCOME> 5,934
<OTHER-INCOME> 0
<EXPENSES-NET> 14,143
<NET-INVESTMENT-INCOME> 7,993
<REALIZED-GAINS-CURRENT> (239,885)
<APPREC-INCREASE-CURRENT> 255,957
<NET-CHANGE-FROM-OPS> 24,065
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 8,332
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 563,284
<NUMBER-OF-SHARES-REDEEMED> 252,832
<SHARES-REINVESTED> 852
<NET-CHANGE-IN-ASSETS> 3,167,674
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 9,223
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 92,141
<AVERAGE-NET-ASSETS> 1,832,090
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.03
<PER-SHARE-GAIN-APPREC> 0.18
<PER-SHARE-DIVIDEND> 0.03
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.18
<EXPENSE-RATIO> 1.15
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
TOUCHSTONE FUNDS
Transactions Pursuant to Rule 10f-3 of ICA
Touchstone Variable Insurance Trust
Income Opportunity Portfolio
<TABLE>
<S> <C>
Name of Issuer: Bell Sports
Name of Security: Bell Sports 11% due 08/15/08 , cusip#07814PAA3
- -----------------
Years of Issuers Operations: 44 years
Date of Purchase: 08/17/98
Number of Units Purchased: 450,000
Price Per Unit: $100.00
Total Price Paid: $450,000.00
Portfolio Assets on Trade Date: $33,194,403
% Gross Underwriting Spread: 3%
Underwriting Type: Firm
Total Offering: 110,000,000
25% of Offering: 27,500,000 Par value
3% of Total Assets: $995,832.09
Underwriter : Donaldson, Lufkin, Jenrette, Merrill Lynch, Barclays
Broker from whom Portfolio purchased: Nationsbank
</TABLE>
TOUCHSTONE FUNDS
Transactions Pursuant to Rule 10f-3 of ICA
Touchstone Variable Insurance Trust
Income Opportunity Portfolio
<TABLE>
<S> <C>
Name of Issuer: Evenflo
Name of Security: Evenflo 11.75% due 08/15/06 , cusip#29975PAA2
- -----------------
Years of Issuers Operations: 78 years
Date of Purchase: 08/20/98
Number of Units Purchased: 450,000
Price Per Unit: $100.00
Total Price Paid: $450,000.00
Portfolio Assets on Trade Date: $33,194,403
% Gross Underwriting Spread: 3%
Underwriting Type: Firm
Total Offering: 110,000,000
25% of Offering: 27,500,000 Par value
3% of Total Assets: $995,832.09
Underwriter : Donaldson, Lufkin, Jenrette, Nationsbank
Broker from whom Portfolio purchased: Merrill Lynch
</TABLE>
TOUCHSTONE FUNDS
Transactions Pursuant to Rule 10f-3 of ICA
Touchstone Variable Insurance Trust
Income Opportunity Portfolio
<TABLE>
<S> <C>
Name of Issuer: Metro Media
Name of Security: Metro Media, 10% due 11/15/08
- -----------------
Years of Issuers Operations: 5 years
Date of Purchase: 11/20/98
Number of Units Purchased: 250,000
Price Per Unit: $100.00
Total Price Paid: $250,000.00
Portfolio Assets on Trade Date: $9,829,024
% Gross Underwriting Spread: 2.5%
Underwriting Type: Firm
Total Offering: 650,000,000
25% of Offering: 162,500,000 Par value
3% of Total Assets: $294,871
Underwriter : Donaldson, Lufkin, Jenrette
Broker from whom Portfolio purchased: Salomon Smith Barney
</TABLE>
Touchstone Select Variable Insurance Trust
Form: N-SAR December 31, 1998
Item 77Q1(e) Incorporated by Reference
- ------------------------------------------------------------------------------
Item 77-Q1 Exhibits
The following exhibits were included in PEA #9 to the registration statement of
Touchstone Select Variable Insurance Trust as filed with the SEC on 12/31/98 and
are being incorporated by reference:
List of Exhibits
(d1) Investment Advisory Agreement
(d2) Sub-Advisory Agreement with respect to Value Plus Fund
(d3) Sub-Advisory Agreement with respect to Emerging Growth Fund
(David L. Babson & Company, Inc.)
(d4) Sub-Advisory Agreement with respect to International Equity Fund
(d5) Sub-Advisory Agreement with respect to Balanced Fund (d6) Sub-Advisory
Agreement with respect to Income Opportunity Fund (d7) Sub-Advisory Agreement
with respect to Standby Income Fund (d8) Sub-Advisory Agreement with respect to
Bond Fund (d9) Sub-Advisory Agreement with respect to Growth & Income Fund
(d10) Sub-Advisory Agreement with respect to Emerging Growth Fund
(Westfield Capital Management)
To Trustees of Select Advisors Variable Insurance Trust:
In planning and performing our audit of the financial statements and financial
highlights of Touchstone Emerging Growth Portfolio, Touchstone International
Equity Portfolio, Touchstone Income Opportunity Portfolio, Touchstone Value Plus
Portfolio Touchstone Standby Income Portfolio and Touchstone Balanced Portfolio
(hereinafter referred to as "financial statements") of Select Advisors Variable
Insurance Trust for the year ended December 31, 1998, we considered its internal
control, including control activities for safeguarding securities, in order to
determine our auditing procedures for the purpose of expressing our opinion on
the financial statements and to comply with the requirements of Form N-SAR, not
to provide assurance on internal control.
The management of the Portfolios is responsible for establishing and maintaining
internal control. In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an audit pertain to the
entity's objective of preparing financial statements for external purposes that
are fairly presented in conformity with generally accepted accounting
principles. Those controls include the safeguarding of assets against
unauthorized acquisition, use, or disposition.
Because of inherent limitations in internal control, error or fraud may occur
and not be detected. Also, projection of any evaluation of internal control to
future periods is subject to the risk that it may become inadequate because of
changes in conditions or that the effectiveness of the design and operation may
deteriorate.
Our consideration of internal control would not necessarily disclose all matters
in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of one or more
of the internal control components does not reduce to a relatively low level the
risk that misstatements caused by error or fraud in amounts that would be
material in relation to the financial statements being audited may occur and not
be detected within a timely period by employees in the normal course of
performing their assigned functions. However, we noted no matters involving
internal control and its operation, including controls for safeguarding
securities, that we consider to be material weaknesses as defined above as of
December 31, 1998.
This report is intended solely for the information and use of management, the
Board of Trustees of Select Advisors Variable Insurance Trust and the Securities
and Exchange Commission.
PricewaterhouseCoopers LLP
Boston, Massachusetts
February 18, 1999
