| TRANSAMERICA FUNDS Transamerica Mid Cap Growth |
Supplement to the Currently Effective Prospectuses, Summary Prospectuses and Statements of Additional Information
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Effective on or about December 1, 2018, Transamerica AssetManagement, Inc. (“TAM”) will terminate its investment sub-advisory agreement withQuantum Capital Management, LLC (“Quantum”)with respect to Transamerica Mid Cap Growth(the “fund”) and willenter into a new investment sub-advisory agreement with Wellington Management Company, LLP (“Wellington”)with respect to the fund. An information statement will be made available to fund shareholders which will provide certain information about the new sub-adviser and the terms of the new sub-advisory agreement.
In connection with the change in sub-adviser: (i)the fund’s principal investment strategies will change;and (ii) the fund will have lower management fee and sub-advisory fee schedules. These changes are described below.
TAM will continue to serve as the fund’s investment manager.
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Effective on or about December 1, 2018, the following information will supplement and supersede any contrary information contained in the Prospectuses, Summary Prospectuses and Statements of Additional Information concerning Transamerica Mid Cap Growth:
PRINCIPAL INVESTMENT STRATEGIES:
The “Principal Investment Strategies” section included ineach of the Prospectuses and Summary Prospectuses is deleted in its entirety and replaced with the following:
The fund normally invests primarily in stocks of medium sized companieswhich the fund’ssub-adviser believes will earn high returns on invested capital, benefit from long term secular growth trends, and meet long term valuation criteria. Under normal circumstances, the fund’s sub-adviser, Wellington Management Company, LLP (the“sub-adviser”), invests at least 80% of the fund’s net assets (plus the amountof borrowings, if any, for investment purposes) in securities of medium sized (or mid-cap) companies and other investments with similar economic characteristics. The sub-adviser considers mid-cap companies to be companies with market capitalizations that, at the time of initial purchase, are within the range of capitalization of the companies that are included in the Russell Midcap® Growth Index. As of July 31, 2018, the market capitalizations of companies in the Russell Midcap® Growth Index ranged from approximately $1.9 billion to $36.3 billion. Over time, the capitalizations of the companies in the Russell Midcap® Growth Index will change. As they do, the size of the companies in which the fund invests may change.
The fund’s equity securities mayinclude common stocks and preferred stocks listed on the New York Stock Exchange and on other national securities exchanges and, to a lesser extent, stocks that are traded over-the-counter. The fund emphasizes common stocks. The fund may also invest in foreign securities.
The fund may also invest its assets in cash, cash equivalent securities or short-term debt securities, repurchase agreements and money market instruments. Generally, 5% or less of fund assets will be invested in cash and cash equivalents.
SUB-ADVISER:
The fund’s sub-adviser will be as follows:
Wellington Management Company, LLP has been a registered investment adviser since 1928. As of June 30, 2018, Wellington Management Company, LLP had approximately $1.07 trillion in total assets under management. Wellington Management Company, LLP’sprincipal business address is 280 Congress Street, Boston, MA 02210.
| PORTFOLIO MANAGER: | ||
| The fund’s portfolio manager will be as follows: | ||
| Name | Sub-Adviser | Positions Over Past Five Years |
| Timothy N. Manning | Wellington Management Company, LLP | Portfolio Manager of the fund since 2018; Portfolio |
| Manager with Wellington Management Company, LLP | ||
| and Leader of the Mid Cap Growth Team; joined the firm | ||
| in 2007 | ||
MANAGEMENT FEES:
TAM will receive compensation from the fund, calculated daily and paid monthly, at the annual rates (expressed as a percentage of the fund’s average daily net assets)indicated below:
| First $200 million | 0.705 | % |
| Over $200 million up to $1 billion | 0.685 | % |
| In excess of $1 billion | 0.670 | % |
SUB-ADVISORY FEES:
Wellingtonwill receive monthly compensation from TAM at the annual rate of a specified percentage, indicated below, of the fund’saverage daily net assets:
| Fund | Sub-Adviser | Sub-Advisory Fees |
| Transamerica Mid Cap Growth | Wellington Management Company, LLP | 0.33% of the first $200 million |
| 0.31% in excess of $200 million | ||
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| Investors Should Retain this Supplement for Future Reference |
September 21, 2018