TRANSAMERICA FUNDS
Supplement to the Currently Effective
Prospectuses

The following replaces the existing "Legal Proceedings"
disclosure in the "Shareholder Information" section of the
Prospectuses:
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.

Investors Should Retain this Supplement for
Future Reference
August 27, 2018