TRANSAMERICA MULTI-MANAGER ALTERNATIVE STRATEGIES PORTFOLIO R6 (TAMAX) Exchange: NMFQS

DELISTED - The fund’s sub-adviser, Goldman Sachs Asset Management, L.P. (the “sub-adviser”), seeks to achieve the fund’s investment objective by investing its assets primarily in underlying Transamerica funds (“underlying Transamerica funds”).Under normal circumstances, the fund expects to invest primarily in underlying Transamerica funds that use alternative investment strategies as their principal investment strategies and/or invest primarily in alternative asset classes which may include, but are not limited to: Long-short and market-neutral strategies; Tactical, strategic or dynamic investment strategies (bond and/or equity); Arbitrage strategies; Event driven strategies; Real estate strategies; Managed futures strategies; Global macro strategies; Commodities and/or natural resources and/or precious metals; Foreign currency trading strategies; and/or Non-core investments (such as micro-cap stocks, international small cap stocks, high yield credit, emerging markets equities and debt, Treasury Inflation-Protected Securities (TIPS), master limited partnerships (MLPs) and foreign bonds). The fund may invest from time to time in underlying Transamerica funds that use traditional core investment strategies (e.g., invest in developed market equity securities or U.S. investment grade fixed income securities). The fund may also invest directly in U.S. government securities, short-term commercial paper and/or repurchase agreements.In managing the fund’s portfolio of investments, the sub-adviser will develop a target asset allocation for the fund using quantitative and qualitative techniques and factors. The sub-adviser’s approach to asset allocation seeks to budget the fund’s long term investment risk exposure across risk factors, such as equity risk, interest rate risk, convexity/credit risk, emerging markets risk, commodities risk, equity style factor risk, time series momentum risk and active risk. An important component of the sub-adviser’s process is allocating risk across asset classes and strategies to increase diversification and, potentially, reduce volatility.The sub-adviser may change the fund’s asset allocation at any time without notice to shareholders. The sub-adviser normally adjusts the fund’s strategic asset allocation as part of its tactical investment process in order to react to changes in the markets, the economic cycle and the macroeconomic environment. The fund’s portfolio positioning may therefore change over time based on the sub-adviser’s short- to medium-term market views on dislocations and attractive investment opportunities.The fund’s investment manager, Transamerica Asset Management, Inc. (the “manager”) will, among other things, oversee and monitor the sub-adviser and will be solely responsible for selecting the underlying Transamerica funds among which the sub-adviser may allocate the fund’s assets and overseeing the management of the underlying Transamerica funds. Each underlying Transamerica fund has its own investment objective, principal investment strategies and investment risks. The sub-adviser for each underlying Transamerica fund decides which securities to purchase and sell for that underlying Transamerica fund. The fund’s ability to achieve its investment objective depends largely on the performance of the underlying Transamerica funds.The sub-adviser may determine (in its sole discretion) that there are multiple Transamerica funds pursuing an investment strategy or investing principally in an asset class represented in the sub-adviser’s target asset allocation; in those cases, the sub-adviser may allocate the portion of the fund’s assets allocated to that strategy or asset class equally among those Transamerica funds using the risk budgeting approach described above.The “Underlying Funds” section of the prospectus lists the Transamerica funds currently available for investment by the fund and provides a summary of their respective investment objectives and principal investment strategies, and identifies certain risks of the Transamerica funds. It is not possible to predict the extent to which the fund will be invested in a particular Transamerica fund at any time, and the fund may be a significant shareholder in certain Transamerica funds.The sub-adviser may invest in index-based underlying exchange-traded funds (“underlying ETFs”) that it selects to gain exposure to asset classes, regions, countries, strategies or sectors that are a part of the sub-adviser’s asset allocation for the fund, but not otherwise accessible through available Transamerica funds.The fund may, but is not required to, invest directly in futures contracts as part of the sub-adviser’s tactical asset allocation and to express the sub-adviser’s short or medium-term investment views. The use of futures would generally be limited to exchange-traded developed market equity index and U.S. Treasury futures. The fund may also have exposure to derivatives instruments, such as options, futures or forward contracts and swaps through its investments in the Transamerica funds and underlying ETFs.The fund may invest without restriction as to issuer capitalization, country, market, currency, maturity or credit rating.