TRANSAMERICA FUNDS
Supplement to the Currently Effective Prospectuses
and Statements of Additional Information
Transamerica Balanced II
Transamerica Bond
Transamerica Core Bond
Transamerica Long Credit
Transamerica Multi-Managed Balanced
* * *
Bradley D. Doyle, CFA, Portfolio Manager of Transamerica Balanced II, Transamerica Bond, Transamerica Core Bond, Transamerica Long Credit and Transamerica Multi-Managed Balanced (together, the “funds”), has announced his plan to retire from Aegon USA Investment Management, LLC (“AUIM”) and effective July 1, 2025, he will no longer serve as a portfolio manager of the funds. Effective immediately, Daniel Belton, CFA, is added to the portfolio management team of Transamerica Balanced II, Transamerica Core Bond and Transamerica Multi-Managed Balanced, and Norbert King is added to the portfolio management team of Transamerica Bond.
* * *
Transamerica Balanced II
Effective immediately, the following will replace the corresponding information in the Prospectus for Transamerica Balanced II under the section entitled “Management”:
| Management: | ||||
| Investment Manager: Transamerica Asset Management, Inc. | ||||
| Sub-Adviser: Aegon USA Investment Management, LLC | ||||
| Portfolio Managers: | ||||
| Daniel Belton, CFA |
Portfolio Manager | since March 2025 | ||
| Bradley D. Doyle, CFA* |
Portfolio Manager | since November 20161 | ||
| Tyler A. Knight, CFA |
Portfolio Manager | since November 20161 | ||
| Brian W. Westhoff, CFA |
Portfolio Manager | since November 20162 | ||
| Sivakumar N. Rajan |
Portfolio Manager | since May 2017 | ||
* Effective July 1, 2025, Mr. Doyle will no longer serve as a Portfolio Manager of the fund.
1 Portfolio Manager of the predecessor fund since October 2015.
2 Portfolio Manager of the predecessor fund since May 2014.
Effective immediately, the following will replace the corresponding information in the Prospectus for Transamerica Balanced II under the section entitled “Shareholder Information – Portfolio Manager(s)”:
| Name |
Sub-Adviser | Positions Over Past Five Years | ||
|
Daniel Belton, CFA |
Aegon USA Investment Management, LLC | Portfolio Manager of the fund since 2025; Portfolio Manager with Aegon USA Investment Management, LLC since 2023; Vice President of investment grade credit strategy at BMO Capital Markets from 2018 to 2023 | ||
|
Bradley D. Doyle, CFA* |
Aegon USA Investment Management, LLC | Portfolio Manager of the fund since 2016; Portfolio Manager of the predecessor fund since 2015; Portfolio Manager with Aegon USA Investment Management, LLC since 2004 | ||
|
Tyler A. Knight, CFA |
Aegon USA Investment Management, LLC | Portfolio Manager of the fund since 2016; Portfolio Manager of the predecessor fund since 2015; Portfolio Manager with Aegon USA Investment Management, LLC since 2008; Head of U.S. Public Structured Finance since 2018 | ||
|
Brian W. Westhoff, CFA |
Aegon USA Investment Management, LLC | Portfolio Manager of the fund since 2016; Portfolio Manager of the predecessor fund since 2014; Portfolio Manager with Aegon USA Investment Management, LLC since 2011; Head of Multi-Sector Portfolio Management from 2018 – 2022; Head of Core U.S. Fixed Income since 2022 | ||
|
Sivakumar N. Rajan |
Aegon USA Investment Management, LLC | Portfolio Manager of the fund since 2022; Portfolio Manager with Aegon USA Investment Management, LLC since 2015 |
* Effective July 1, 2025, Mr. Doyle will no longer serve as a Portfolio Manager of the fund.
* * *
Transamerica Bond
Effective immediately, the following will replace the corresponding information in the Prospectuses for Transamerica Bond under the section entitled “Management”:
| Management: | ||||
| Investment Manager: Transamerica Asset Management, Inc. | ||||
| Sub-Adviser: Aegon USA Investment Management, LLC | ||||
| Portfolio Managers: | ||||
| Bradley D. Doyle, CFA* |
Portfolio Manager | since October 2015 | ||
| Tyler A. Knight, CFA |
Portfolio Manager | since April 2021 | ||
| Brian W. Westhoff, CFA |
Portfolio Manager | since August 2005 | ||
| Norbert King |
Portfolio Manager | since March 2025 | ||
| Sivakumar N. Rajan |
Portfolio Manager | since December 2022 | ||
* Effective July 1, 2025, Mr. Doyle will no longer serve as a Portfolio Manager of the fund.
Effective immediately, the following will replace the corresponding information in the Prospectuses for Transamerica Bond under the section entitled “Shareholder Information – Portfolio Manager(s)”:
| Name |
Sub-Adviser | Positions Over Past Five Years | ||
|
Bradley D. Doyle, CFA* |
Aegon USA Investment Management, LLC | Portfolio Manager of the fund since 2015; Portfolio Manager with Aegon USA Investment Management, LLC since 2004 | ||
|
Tyler A. Knight, CFA |
Aegon USA Investment Management, LLC | Portfolio Manager of the fund since 2021; Portfolio Manager with Aegon USA Investment Management, LLC since 2008; Head of U.S. Public Structured Finance since 2018 | ||
|
Brian W. Westhoff, CFA |
Aegon USA Investment Management, LLC | Portfolio Manager of the fund since 2005; Portfolio Manager with Aegon USA Investment Management, LLC since 2011; Head of Multi-Sector Portfolio Management from 2018 – 2022; Head of Core U.S. Fixed Income since 2022 | ||
|
Norbert King |
Aegon USA Investment Management, LLC | Portfolio Manager of the fund since 2025; Portfolio Manager with Aegon USA Investment Management, LLC since 2017 | ||
|
Sivakumar N. Rajan |
Aegon USA Investment Management, LLC | Portfolio Manager of the fund since 2022; Portfolio Manager with Aegon USA Investment Management, LLC since 2015 |
* Effective July 1, 2025, Mr. Doyle will no longer serve as a Portfolio Manager of the fund.
* * *
Transamerica Core Bond
Effective immediately, the following will replace the corresponding information in the Prospectuses for Transamerica Core Bond under the section entitled “Management”:
| Management: | ||||
| Investment Manager: Transamerica Asset Management, Inc. | ||||
| Sub-Adviser: Aegon USA Investment Management, LLC | ||||
| Portfolio Managers: | ||||
| Daniel Belton, CFA |
Portfolio Manager | since March 2025 | ||
| Bradley D. Doyle, CFA* |
Portfolio Manager | since October 2015 | ||
| Tyler A. Knight, CFA |
Portfolio Manager | since October 2015 | ||
| Brian W. Westhoff, CFA |
Portfolio Manager | since March 2014 | ||
| Sivakumar N. Rajan |
Portfolio Manager | since May 2017 | ||
* Effective July 1, 2025, Mr. Doyle will no longer serve as a Portfolio Manager of the fund.
Effective immediately, the following will replace the corresponding information in the Prospectuses for Transamerica Core Bond under the section entitled “Shareholder Information – Portfolio Manager(s)”:
| Name |
Sub-Adviser | Positions Over Past Five Years | ||
|
Daniel Belton, CFA |
Aegon USA Investment Management, LLC | Portfolio Manager of the fund since 2025; Portfolio Manager with Aegon USA Investment Management, LLC since 2023; Vice President of investment grade credit strategy at BMO Capital Markets from 2018 to 2023 | ||
|
Bradley D. Doyle, CFA* |
Aegon USA Investment Management, LLC | Portfolio Manager of the fund since 2015; Portfolio Manager with Aegon USA Investment Management, LLC since 2004 | ||
|
Tyler A. Knight, CFA |
Aegon USA Investment Management, LLC | Portfolio Manager of the fund since 2015; Portfolio Manager with Aegon USA Investment Management, LLC |
| since 2008; Head of U.S. Public Structured Finance since 2018 | ||||
|
Brian W. Westhoff, CFA |
Aegon USA Investment Management, LLC | Portfolio Manager of the fund since 2014; Portfolio Manager with Aegon USA Investment Management, LLC since 2011; Head of Multi-Sector Portfolio Management from 2018 – 2022; Head of Core U.S. Fixed Income since 2022 | ||
|
Sivakumar N. Rajan |
Aegon USA Investment Management, LLC | Portfolio Manager of the fund since 2017; Portfolio Manager with Aegon USA Investment Management, LLC since 2015 |
* Effective July 1, 2025, Mr. Doyle will no longer serve as a Portfolio Manager of the fund.
* * *
Transamerica Long Credit
Effective immediately, the following will replace the corresponding information in the Prospectuses for Transamerica Long Credit under the section entitled “Management”:
| Management: | ||||
| Investment Manager: Transamerica Asset Management, Inc. | ||||
| Sub-Adviser: Aegon USA Investment Management, LLC | ||||
| Portfolio Managers: | ||||
| Bradley D. Doyle, CFA* |
Portfolio Manager | since March 2023 | ||
| Norbert King |
Portfolio Manager | since December 2023 | ||
| Sivakumar N. Rajan |
Portfolio Manager | since March 2023 | ||
* Effective July 1, 2025, Mr. Doyle will no longer serve as a Portfolio Manager of the fund.
Effective immediately, the following will replace the corresponding information in the Prospectuses for Transamerica Long Credit under the section entitled “Shareholder Information – Portfolio Manager(s)”:
| Name |
Sub-Adviser | Positions Over Past Five Years | ||
|
Bradley D. Doyle, CFA* |
Aegon USA Investment Management, LLC | Portfolio Manager of the fund since 2023; Portfolio Manager with Aegon USA Investment Management, LLC since 2004 | ||
|
Norbert King |
Aegon USA Investment Management, LLC | Portfolio Manager of the fund since 2023; Portfolio Manager with Aegon USA Investment Management, LLC since 2017 | ||
|
Sivakumar N. Rajan |
Aegon USA Investment Management, LLC | Portfolio Manager of the fund since 2023; Portfolio Manager with Aegon USA Investment Management, LLC since 2015 |
* Effective July 1, 2025, Mr. Doyle will no longer serve as a Portfolio Manager of the fund.
* * *
Transamerica Multi-Managed Balanced
Effective immediately, the following will replace the corresponding information in the Prospectuses for Transamerica Multi-Managed Balanced under the section entitled “Management”:
| Management: | ||||
| Investment Manager: Transamerica Asset Management, Inc. | ||||
| Sub-Adviser: Aegon USA Investment Management, LLC | ||||
| Portfolio Managers: | ||||
| Daniel Belton, CFA |
Portfolio Manager | since March 2025 | ||
| Bradley D. Doyle, CFA* |
Portfolio Manager | since October 2015 | ||
| Tyler A. Knight, CFA |
Portfolio Manager | since October 2015 | ||
| Brian W. Westhoff, CFA |
Portfolio Manager | since May 2014 | ||
| Sivakumar N. Rajan |
Portfolio Manager | since May 2017 | ||
* Effective July 1, 2025, Mr. Doyle will no longer serve as a Portfolio Manager of the fund.
Effective immediately, the following will replace the corresponding information in the Prospectuses for Transamerica Multi-Managed Balanced under the section entitled “Shareholder Information – Portfolio Manager(s)”:
| Name |
Sub-Adviser | Positions Over Past Five Years | ||
|
Daniel Belton, CFA |
Aegon USA Investment Management, LLC | Portfolio Manager of the fund since 2025; Portfolio Manager with Aegon USA Investment Management, LLC since 2023; Vice President of investment grade credit strategy at BMO Capital Markets from 2018 to 2023 | ||
|
Bradley D. Doyle, CFA* |
Aegon USA Investment Management, LLC | Portfolio Manager of the fund since 2015; Portfolio Manager with Aegon USA Investment Management, LLC since 2004 |
|
Tyler A. Knight, CFA |
Aegon USA Investment Management, LLC | Portfolio Manager of the fund since 2015; Portfolio Manager with Aegon USA Investment Management, LLC since 2008; Head of U.S. Public Structured Finance since 2018 | ||
|
Brian W. Westhoff, CFA |
Aegon USA Investment Management, LLC | Portfolio Manager of the fund since 2014; Portfolio Manager with Aegon USA Investment Management, LLC since 2011; Head of Multi-Sector Portfolio Management from 2018 – 2022; Head of Core U.S. Fixed Income since 2022 | ||
| Sivakumar N. Rajan |
Aegon USA Investment Management, LLC | Portfolio Manager of the fund since 2017; Portfolio Manager with Aegon USA Investment Management, LLC since 2015 |
* Effective July 1, 2025, Mr. Doyle will no longer serve as a Portfolio Manager of the fund.
* * *
Effective immediately, the following will replace the corresponding information in the Statements of Additional Information (as applicable) under the section in Appendix B entitled “Portfolio Managers - Aegon USA Investment Management, LLC (“AUIM”)”:
Transamerica Balanced II
| Portfolio Manager | Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts | |||||||||
| Number | Assets Managed |
Number | Assets Managed |
Number | Assets Managed | |||||||
| Daniel Belton, CFA* | 0 | $0 | 0 | $0 | 0 | $0 | ||||||
| Bradley D. Doyle, CFA** | 7 | $8.70 billion | 5 | $1.06 billion | 8 | $27.14 billion | ||||||
| Tyler A. Knight, CFA | 9 | $11.70 billion | 3 | $233 million | 12 | $8.89 billion | ||||||
| Brian W. Westhoff, CFA | 7 | $11.43 billion | 4 | $489 million | 16 | $4.07 billion | ||||||
| Sivakumar N. Rajan | 9 | $12.27 billion | 5 | $1.06 billion | 9 | $27.15 billion | ||||||
|
Fee Based Accounts
| ||||||||||||
| Daniel Belton, CFA* | 0 | $0 | 0 | $0 | 0 | $0 | ||||||
| Bradley D. Doyle, CFA** | 0 | $0 | 0 | $0 | 0 | $0 | ||||||
| Tyler A. Knight, CFA | 0 | $0 | 0 | $0 | 0 | $0 | ||||||
| Brian W. Westhoff, CFA | 0 | $0 | 0 | $0 | 0 | $0 | ||||||
| Sivakumar N. Rajan | 0 | $0 | 0 | $0 | 0 | $0 | ||||||
* As of December 31, 2024
** Effective July 1, 2025, Mr. Doyle will no longer serve as a Portfolio Manager of the fund.
Transamerica Bond
| Portfolio Manager | Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts | |||||||||
| Number | Assets Managed |
Number | Assets Managed |
Number | Assets Managed | |||||||
| Bradley D. Doyle, CFA* | 7 | $6.26 billion | 5 | $1.06 billion | 8 | $27.14 billion | ||||||
| Tyler A. Knight, CFA | 9 | $9.26 billion | 3 | $233 million | 12 | $8.89 billion | ||||||
| Brian W. Westhoff, CFA | 7 | $8.98 billion | 4 | $489 million | 16 | $4.07 billion | ||||||
| Norbert King** | 1 | $3.33 billion | 3 | $906 million | 12 | $28.43 billion | ||||||
| Sivakumar N. Rajan | 9 | $9.83 billion | 5 | $1.06 billion | 9 | $27.15 billion | ||||||
|
Fee Based Accounts
| ||||||||||||
| Bradley D. Doyle, CFA* | 0 | $0 | 0 | $0 | 0 | $0 | ||||||
| Tyler A. Knight, CFA | 0 | $0 | 0 | $0 | 0 | $0 | ||||||
| Brian W. Westhoff, CFA | 0 | $0 | 0 | $0 | 0 | $0 | ||||||
| Norbert King** | 0 | $0 | 0 | $0 | 0 | $0 | ||||||
| Sivakumar N. Rajan | 0 | $0 | 0 | $0 | 0 | $0 | ||||||
* Effective July 1, 2025, Mr. Doyle will no longer serve as a Portfolio Manager of the fund.
** As of December 31, 2024
Transamerica Core Bond
| Portfolio Manager | Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts | |||||||||
| Number | Assets Managed |
Number | Assets Managed |
Number | Assets Managed | |||||||
| Daniel Belton, CFA* | 0 | $0 | 0 | $0 | 0 | $0 | ||||||
| Bradley D. Doyle, CFA** | 7 | $6.77 billion | 5 | $1.06 billion | 8 | $27.14 billion | ||||||
| Tyler A. Knight, CFA | 9 | $9.77 billion | 3 | $233 million | 12 | $8.89 billion | ||||||
| Brian W. Westhoff, CFA | 7 | $9.49 billion | 4 | $489 million | 16 | $4.07 billion | ||||||
| Sivakumar N. Rajan | 9 | $10.34 billion | 5 | $1.06 billion | 9 | $27.15 billion | ||||||
|
Fee Based Accounts
| ||||||||||||
| Daniel Belton, CFA* | 0 | $0 | 0 | $0 | 0 | $0 | ||||||
| Bradley D. Doyle, CFA** | 0 | $0 | 0 | $0 | 0 | $0 | ||||||
| Tyler A. Knight, CFA | 0 | $0 | 0 | $0 | 0 | $0 | ||||||
| Brian W. Westhoff, CFA | 0 | $0 | 0 | $0 | 0 | $0 | ||||||
| Sivakumar N. Rajan | 0 | $0 | 0 | $0 | 0 | $0 | ||||||
* As of December 31, 2024
** Effective July 1, 2025, Mr. Doyle will no longer serve as a Portfolio Manager of the fund.
Transamerica Long Credit
| Portfolio Manager | Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts | |||||||||
| Number | Assets Managed |
Number | Assets Managed |
Number | Assets Managed | |||||||
| Bradley D. Doyle, CFA* | 7 | $8.14 billion | 5 | $1.06 billion | 8 | $27.14 billion | ||||||
| Norbert King | 1 | $3.33 billion | 3 | $906 million | 12 | $28.43 billion | ||||||
| Sivakumar N. Rajan | 9 | $11.71 billion | 5 | $1.06 billion | 9 | $27.15 billion | ||||||
|
Fee Based Accounts
| ||||||||||||
| Bradley D. Doyle, CFA* | 0 | $0 | 0 | $0 | 0 | $0 | ||||||
| Norbert King | 0 | $0 | 0 | $0 | 0 | $0 | ||||||
| Sivakumar N. Rajan | 0 | $0 | 0 | $0 | 0 | $0 | ||||||
* Effective July 1, 2025, Mr. Doyle will no longer serve as a Portfolio Manager of the fund.
Transamerica Multi-Managed Balanced
| Portfolio Manager | Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts | |||||||||
| Number | Assets Managed |
Number | Assets Managed |
Number | Assets Managed | |||||||
| Daniel Belton, CFA* | 0 | $0 | 0 | $0 | 0 | $0 | ||||||
| Bradley D. Doyle, CFA** | 7 | $8.22 billion | 5 | $1.06 billion | 8 | $27.14 billion | ||||||
| Tyler A. Knight, CFA | 9 | $11.22 billion | 3 | $233 million | 12 | $8.89 billion | ||||||
| Brian W. Westhoff, CFA | 7 | $10.95 billion | 4 | $489 million | 16 | $4.07 billion | ||||||
| Sivakumar N. Rajan | 9 | $11.79 billion | 5 | $1.06 billion | 9 | $27.15 billion | ||||||
|
Fee Based Accounts
| ||||||||||||
| Daniel Belton, CFA* | 0 | $0 | 0 | $0 | 0 | $0 | ||||||
| Bradley D. Doyle, CFA** | 0 | $0 | 0 | $0 | 0 | $0 | ||||||
| Tyler A. Knight, CFA | 0 | $0 | 0 | $0 | 0 | $0 | ||||||
| Brian W. Westhoff, CFA | 0 | $0 | 0 | $0 | 0 | $0 | ||||||
| Sivakumar N. Rajan | 0 | $0 | 0 | $0 | 0 | $0 | ||||||
* As of December 31, 2024
** Effective July 1, 2025, Mr. Doyle will no longer serve as a Portfolio Manager of the fund.
* * *
Investors Should Retain this Supplement for Future Reference
April 4, 2025