TRANSAMERICA ASSET
ALLOCATION VARIABLE FUNDS

Supplement to the Currently
Effective Prospectus

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The following replaces the existing "Legal Proceedings"
disclosure in the "Transamerica Asset Allocation Variable
Funds" section of the Prospectus:

Legal Proceedings

On August 27, 2018, Transamerica Asset Management, Inc.
("TAM"), Aegon USA Investment Management, LLC
("AUIM") and Transamerica Capital, Inc. ("TCI") reached a
settlement with the Securities and Exchange Commission (the
"SEC") that resolved an investigation into asset allocation
models and volatility overlays utilized by AUIM when it served
as sub-adviser to certain Transamerica-sponsored mutual funds,
and related disclosures. TAM and TCI serve as investment
manager and principal underwriter, respectively, to
Transamerica-sponsored mutual funds. TCI also serves as the
principal underwriter to the variable life insurance and annuity
products  through which certain Transamerica-sponsored
mutual funds are offered. AUIM, an affiliate of TAM and TCI,
serves as sub-adviser to a number of Transamerica-sponsored
mutual funds.

The SEC's order instituting administrative and cease-and-desist
proceedings (the "Order") pertains to events that occurred
during the period between July 2011 and June 2015, and,
among other things, the operation and/or implementation of an
asset allocation model utilized by AUIM when it served as sub-
adviser to  certain  Transamerica tactical funds and asset
allocation funds, the designation of the portfolio manager for
certain of these funds as well as the operation and/or
implementation of volatility overlays utilized by AUIM when it
served as sub- adviser to the asset allocation funds. The Order
also states that the parties failed to make appropriate disclosures
regarding these matters, including in marketing materials, and
failed to have adequate compliance policies and procedures.
The tactical funds are Transamerica Dynamic Income
(formerly, Transamerica Tactical Income), Transamerica
Dynamic Allocation (formerly, Transamerica Tactical Rotation)
and Transamerica Dynamic Allocation II (formerly,
Transamerica Tactical Allocation, and now reorganized into
Transamerica Dynamic Allocation). The asset allocation funds
are Transamerica Managed Risk - Conservative ETF VP
(formerly, Transamerica Vanguard ETF Portfolio -
Conservative VP and Transamerica Index 35 VP), Transamerica
Managed Risk - Balanced ETF VP (formerly, Transamerica
Vanguard ETF Portfolio - Balanced VP and Transamerica
Index 50 VP), Transamerica Managed Risk - Growth ETF VP
(formerly, Transamerica Vanguard ETF Portfolio - Growth VP
and Transamerica Index 75 VP), Transamerica QS Investors
Active Asset Allocation - Conservative VP (formerly,
Transamerica Aegon Active Asset Allocation - Conservative
VP), Transamerica QS Investors Active Asset Allocation -
Moderate VP (formerly, Transamerica Aegon Active Asset
Allocation - Moderate VP) and Transamerica QS Investors
Active Asset Allocation - Moderate Growth VP (formerly,
Transamerica Aegon Active Asset Allocation - Moderate
Growth VP). AUIM ceased to serve as sub-adviser to the
Transamerica tactical funds on April 30, 2015 and to the
Transamerica asset allocation funds on June 30, 2015.

Under the terms of the Order, AUIM, TAM and TCI were
censured, and agreed, without admitting or denying the findings
in the Order, to cease and desist from committing or causing
any violations of certain statutory provisions and SEC rules.
AUIM agreed to pay civil penalties of $21,000,000,
$24,599,896 in disgorgement and $3,682,195 in prejudgment
interest.    TAM  agreed  to  pay  civil  penalties  of
$10,500,000,  $15,000,000  in  disgorgement  and
$2,235,765 in prejudgment interest. TCI agreed to pay civil
penalties of $4,000,000, $12,000,000 in disgorgement and
$1,826,022 in prejudgment interest. The amounts paid in
disgorgement, prejudgment interest and civil penalties will be
deposited into a Fair Fund for distribution to affected investors.
Affected investors are those who purchased or held the relevant
mutual funds, variable life insurance and annuity investment
portfolios and separately managed account strategies during the
period between July 2011 and June 2015. The Order states that
these investors are to receive from the Fair Fund the pro rata
fees and commissions paid by them during that period, subject
to any de minimis threshold.

In accepting the settlement, the SEC considered the substantial
cooperation and remedial efforts of AUIM, TAM  and TCI.
In the Order, the SEC acknowledged that, after the start of the
SEC staff's investigation but before the


settlement, AUIM, TAM and TCI had voluntarily retained an
independent compliance consultant to conduct a comprehensive
review of certain compliance policies and procedures, internal
controls and related procedures, and that AUIM, TAM and TCI
had received the consultant's written findings and implemented
the  consultant's proposed changes. The SEC also
acknowledged that, in advance of receiving written findings and
recommendations from the independent compliance consultant,
AUIM, TAM and TCI had already begun making revisions and
improvements to their compliance policies and procedures. The
SEC also considered that AUIM, TAM and TCI have retained
the independent compliance consultant for further reviews
through the completion of the consultant's follow-up review for
fiscal year 2019.

The settlement does not impose any restrictions on the business
or continued ability of AUIM, TAM or TCI to serve the funds.

Transamerica Financial Advisors, LLC ("TFA"), which serves
as an intermediary for the Transamerica-sponsored mutual
funds, also was a party to the settlement. The findings in the
Order with respect to TFA are unrelated to the mutual funds.

The foregoing is only a brief summary of the Order. A copy of
the Order is available on the SEC's website at
https://www.sec.gov.

The funds are affected by many factors and risks: for example,
the risk that the sub-advisers' judgments and investment
decisions, and methods, tools, resources, information, models
and analyses utilized in making investment decisions, are
incorrect or flawed, do not produce the desired results, and
cause the funds to lose value. See "Principal Risks" in the
prospectus.

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Investors Should Retain this
Supplement for Future Reference

August 27, 2018




























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Information Classification: Limited Access





Information Classification: Limited Access

Information Classification: Limited Access