As filed with the SEC on May 18, 2006

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM N-1A

             REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
                            Registration No. 33-2659

                         Pre-Effective Amendment No.___
                         Post-Effective Amendment No. 78
                                     and/or

         REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
                           1940 Act File No. 811-4556

                                Amendment No. 79

                         TRANSAMERICA IDEX MUTUAL FUNDS
               (Exact Name of Registrant as Specified in Charter)

               570 Carillon Parkway, St. Petersburg, Florida 33716
               (Address of Principal Executive Offices) (Zip Code)

       Registrant's Telephone Number, including Area Code: (727) 299-1800

       John K. Carter, Esq. P.O. Box 9012, Clearwater, Florida 33758-5068
                     (Name and Address of Agent for Service)

Approximate date of proposed public offering:

It is proposed that this filing will become effective:

[ ]  60 days after filing pursuant to paragraph (a) (1) of Rule 485.

[ ]  75 days after filing pursuant to paragraph (a) (2) of Rule 485.

[X]  On August 1, 2006 pursuant to paragraph (a) (1) of Rule 485.

[ ]  On (Date) pursuant to paragraph (a) (2) of Rule 485.

[ ]  Immediately upon filing pursuant to paragraph (b) of Rule 485.

[ ]  On (Date) pursuant to paragraph (b) of Rule 485.

If appropriate, check the following box:

[ ]  This post-effective amendment designates a new effective date for a
     previously filed post-effective amendment.



This Amendment to the Registration Statement of Transamerica IDEX Mutual Funds
relates only to TA IDEX Bjurman, Barry Micro Emerging Growth and TA IDEX
Oppenheimer Small- & Mid-Cap Value. The prospectus and statement of additional
information for the other series of Transamerica IDEX Mutual Funds, as
previously filed with the Securities and Exchange Commission, are incorporated
herein by reference.

[TRANSAMERICA IDEX MUTUAL FUNDS GRAPHIC]                           Prospectus
                                                                 August 1, 2006


       Neither the U.S. Securities and Exchange Commission nor any state
       securities commission has approved or disapproved these securities
          or passed upon the adequacy or accuracy of this prospectus.
           Any representation to the contrary is a criminal offense.


- --------------------------------------------------------------------------------
Not insured by FDIC or any federal government agency.   May lose value.

Not a deposit of or guaranteed by any bank, bank affiliate, or credit union.
- --------------------------------------------------------------------------------




TABLE OF CONTENTS

                                                   
SECTION A -- FUND DESCRIPTIONS.........................    2
         TA IDEX Oppenheimer Small- & Mid-Cap Value....    2
         TA IDEX Bjurman, Barry Micro Emerging Growth..    5

SECTION B -- SHAREHOLDER INFORMATION...................    8
         Regulatory Proceedings........................    8
         Investment Adviser............................    8
         Class I Shares................................    8
         Features and Policies.........................    8
         Distribution of Shares........................   10
         Other Distribution or Service Arrangements....   10
         Distributions and Taxes.......................   10

- -    APPENDIX A -- EXPLANATION OF STRATEGIES AND
     RISKS.............................................  A-1



Transamerica IDEX Mutual Funds (TA IDEX) consists of several individual funds.
Each fund invests in a range of securities, such as stocks and/or bonds. Please
read this prospectus carefully before you invest or send money. It has been
written to provide information and assist you in making an informed decision.
This prospectus includes only the funds listed above. If you would like
additional information, please request a copy of the Statement of Additional
Information (SAI).

In addition, we suggest you contact your financial professional or a TA IDEX
customer service representative, who will assist you.

PLEASE NOTE:

THIS PROSPECTUS INCLUDES CLASS I SHARES ONLY. CLASS I SHARES OF THE TA IDEX
FUNDS LISTED IN THIS PROSPECTUS ARE CURRENTLY ONLY OFFERED FOR INVESTMENT TO
CERTAIN FUNDS OF FUNDS OF AEGON/TRANSAMERICA SERIES TRUST (ATST): ATST ASSET
ALLOCATION -- CONSERVATIVE PORTFOLIO, ATST ASSET ALLOCATION -- GROWTH PORTFOLIO,
ATST ASSET ALLOCATION -- MODERATE GROWTH PORTFOLIO, ATST ASSET ALLOCATION --
MODERATE PORTFOLIO AND ATST INTERNATIONAL MODERATE GROWTH FUND AND THE FOLLOWING
TA IDEX FUNDS OF FUNDS: TA IDEX ASSET ALLOCATION -- CONSERVATIVE PORTFOLIO, TA
IDEX ASSET ALLOCATION -- GROWTH PORTFOLIO, TA IDEX ASSET ALLOCATION -- MODERATE
GROWTH PORTFOLIO, TA IDEX ASSET ALLOCATION -- MODERATE PORTFOLIO AND TA IDEX
MULTI-MANAGER INTERNATIONAL FUND.

TO HELP YOU UNDERSTAND . . .

In this prospectus, you'll see symbols like the ones below. These are "icons,"
graphic road signs that let you know at a glance the subject of the nearby
paragraphs. The icons serve as tools for your convenience as you read this
prospectus.

(CHECK MARK ICON)
OBJECTIVE
What is the fund's investment objective? Learn about your fund's goal or
objective.

(CIRCLE I ICON)
PRINCIPAL STRATEGIES AND POLICIES
How does the fund go about trying to meet its goal? Read about the types of
investments each fund contains and what style of investment philosophy it
employs.

(EXCLAMATION ICON)
PRINCIPAL RISKS
What are the specific risks for an investor in the fund? Find out what types of
risks are associated with each fund.

(PERCENTAGE ICON)
PAST PERFORMANCE
What is the investment performance of the fund? See how well each fund has
performed in the past year, five years, ten years or since its inception.

(DOLLAR ICON)
FEES AND EXPENSES
How much does it cost to invest in the fund? Learn about each fund's fees and
expenses.

(QUESTION MARK ICON)
ADDITIONAL INFORMATION
Who manages the fund and how much are they paid? See information about each
fund's advisers, as well as the fees paid to them.

AN INVESTMENT IN A TA IDEX FUND IS NOT A DEPOSIT OF A BANK AND IS NOT INSURED OR
GUARANTEED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENT
AGENCY.

                                        1


SECTION A -- FUND DESCRIPTIONS
- --------------------------------------------------------------------------------

TA IDEX OPPENHEIMER SMALL- & MID-CAP VALUE
- --------------------------------------------------------------------------------

SUMMARY OF RISKS AND RETURNS

(CHECK MARK ICON)
OBJECTIVE
- ---------------------------------------------------------
The objective of TA IDEX Oppenheimer Small- & Mid-Cap Value is to seek capital
appreciation.

(CIRCLE I ICON)
PRINCIPAL STRATEGIES AND POLICIES
- ---------------------------------------------------------
The fund's sub-adviser, OppenheimerFunds, Inc. (Oppenheimer) seeks to achieve
this objective by investing mainly in stocks of U.S. issuers having a market
capitalization up to $13 billion. That includes both small cap stocks (stocks of
issuers having a market capitalization under $3 billion) and mid cap stocks
(stocks of issuers having a market capitalization between $3 billion and $13
billion). The fund has no fixed ratio for small cap and mid cap stocks in its
portfolio, and while its focus is on stocks of U.S. companies, it may invest in
stocks of small and mid cap foreign issuers as well. Under normal market
conditions the fund will invest at least 80% of its assets in equity securities
of small-cap and mid-cap domestic and foreign issuers. The fund emphasizes
investment in equity securities of companies that Oppenheimer believes are
undervalued in the marketplace.

In selecting securities for purchase or sale by the fund, Oppenheimer uses a
"value" approach to investing. The fund's portfolio managers search for
securities of companies believed to be undervalued in the marketplace, in
relation to factors such as a company's book value, sales, earnings, growth
potential and cash flows. The portfolio managers select securities one at a
time. This is called a "bottom up" approach, and the portfolio managers use
fundamental company analysis to focus on particular companies before considering
industry trends. The portfolio managers consider the following factors in
assessing a company's prospects: favorable supply/demand conditions for key
products; development of new products or businesses; quality of management;
competitive position in the marketplace; and allocation of capital.

WHAT IS "BOTTOM UP" ANALYSIS?
When a sub-adviser uses a "bottom up" approach, it looks primarily at individual
companies against the context of broad market factors. It seeks to identify
individual companies with earnings growth potential that may not be recognized
by the market at large.

While the fund invests primarily in common stocks, it may also invest in
preferred stocks and securities convertible into common stocks. Although they
are debt securities, the sub-adviser considers some convertible securities to be
"equity equivalents" because of the conversion feature, and their credit rating
has less impact on the investment decision than in the case of other debt
securities. Nevertheless, convertible securities are subject to both credit risk
and interest rate risk. To the extent that the fund buys convertible securities
(or other debt securities), it will focus primarily on investment grade
securities, which pose less credit risk than other lower-grade securities.

At times, the fund may increase the relative emphasis of its investments in a
particular industry or industrial sector and it will then be subject to industry
focus risk. To some extent, this risk may be limited by the fund's policy of not
concentrating its assets in investments in any one industry.

Under adverse or unstable market conditions, the fund could invest some or all
of its assets in cash, repurchase agreements and money market instruments.
Although the fund would do this only in seeking to avoid losses, the fund may be
unable to pursue its investment objective during that time, and it could reduce
the benefit from any upswing in the market.

(EXCLAMATION ICON)
PRINCIPAL RISKS
- ---------------------------------------------------------
The fund is subject to the following principal investment risks:

- - STOCKS
While stocks have historically outperformed other investments over the long
term, their prices tend to go up and down more dramatically over the shorter
term. These price movements may result from factors affecting individual
companies, industries or the securities markets as a whole.

Because the stocks the fund holds fluctuate in price, the value of your
investment in the fund will go up and down.

- - SMALL- OR MEDIUM-SIZED COMPANIES
Investing in small- and medium-sized companies involves greater risk than is
customarily associated with more established companies. Stocks of such companies
may be subject to more volatility in price than larger company securities. Among
the reasons for the greater price volatility are the less certain growth
prospects of smaller companies, the lower degree of liquidity in the markets for
such securities, and the greater sensitivity of smaller companies to changing
economic conditions. Small companies often have limited product lines, markets,
or financial resources and their management may lack depth and experience. Such
companies usually do not pay significant dividends that could cushion returns in
a falling market.

- - VALUE
The value approach carries the risk that the market will not recognize a
security's intrinsic value for a long time, or that a stock considered to be
undervalued may actually be appropriately priced.

- - FOREIGN SECURITIES
Investments in foreign securities, including American Depositary Receipts
(ADRs), Global Depositary Receipts (GDRs) and European Depositary Receipts
(EDRs), involve risks relating to political, social and economic developments
abroad, as well as risks resulting from the difference between the regulations
to which U.S. and foreign issuer markets are subject. These risks may include,
without limitation:

- - Changes in currency values

- - Currency speculation

- - Currency trading costs

- - Different accounting and reporting practices

- - Less information available to the public

- - Less (or different) regulation of securities markets

- - More complex business negotiations

- - Less liquidity

- - More fluctuations in prices

                                        2

TA IDEX OPPENHEIMER SMALL- & MID-CAP VALUE
- --------------------------------------------------------------------------------

- - Delays in settling foreign securities transactions

- - Higher costs for holding shares (custodial fees)

- - Higher transaction costs

- - Vulnerability to seizure and taxes

- - Political instability and small markets

- - Different market trading days

- - PREFERRED STOCKS
Preferred stocks may include the obligation to pay a stated dividend. Their
price could depend more on the size of the dividend than on the company's
performance. If a company fails to pay the dividend, its preferred stock is
likely to drop in price. Changes in interest rates can also affect their price.

- - FIXED-INCOME SECURITIES
The value of these securities may change daily based on changes in interest
rates, and other market conditions and factors, risks include, without
limitation:

- - fluctuation in market value

- - changes in interest rates: the value of a fixed-income security generally
  decreases as interest rates rise

- - length of time to maturity: the longer the duration, the more vulnerable the
  value of a fixed-income security is to fluctuations in interest rates

- - issuers defaulting on their obligations to pay interest or return principal.

- - CONVERTIBLE SECURITIES
Convertible securities may include corporate notes or preferred stock, but
ordinarily are a long-term debt obligation of the issuer convertible at a stated
exchange rate into common stock of the issuer. As with all debt securities, the
market value of convertible securities tends to decline as interest rates
increase. Convertible securities generally offer lower interest or dividend
yields than non-convertible securities of similar quality. However, when the
market price of the common stock underlying a convertible security exceeds the
conversion price, the price of the convertible security tends to reflect the
value of the underlying common stock.

- - CREDIT
The fund could lose money if the issuer or guarantor of a fixed-income security,
or the counterparty to a derivative contract, is unable or unwilling to meet its
financial obligations.

- - INTEREST RATES
The interest rates on short-term obligations held in the fund will vary, rising
or falling with short-term interest rates generally. The fund's yield will tend
to lag behind general changes in interest rate.

The ability of the fund's yield to reflect current market rates will depend on
how quickly the obligations in its portfolio mature and how much money is
available for investment at current market rates.

- - ILLIQUID AND RESTRICTED SECURITIES
Liquidity risk exists when a particular security is difficult to purchase or
sell. The fund's investment in illiquid or restricted securities may reduce the
returns of the fund because it may be unable to sell the illiquid or restrictive
securities at an advantageous time or price.

- - INDUSTRY FOCUS
Stocks of issuers in a particular industry may be affected by changes in
economic conditions, government regulations, availability of basic resources or
supplies, or other events that affect the industry more than others. To the
extent that the fund is emphasizing investments in a particular industry, its
share values may fluctuate in response to events affecting that industry.

- - MARKET
The value of securities owned by the fund may go up or down, sometimes rapidly
or unpredictably. Securities may decline in value due to factors affecting
securities markets generally or particular industries.

YOU MAY LOSE MONEY IF YOU INVEST IN THIS FUND.

These and other risks are fully described in the section entitled "Explanation
of Strategies and Risks" in Appendix A of this prospectus.

DISCLOSURE OF PORTFOLIO HOLDINGS
A detailed description of the fund's policies and procedures with respect to the
disclosure of the fund's portfolio securities is available in the Statement of
Additional Information. In addition, investors should note that the fund
publishes its holdings on its website at www.transamericaidex.com 30 days after
the end of each calendar quarter. Such information will generally remain online
for six months or as otherwise consistent with applicable regulations.

- - INVESTOR PROFILE

The fund may be appropriate for long-term investors who are able to tolerate the
volatility that exists when investing in small/ mid-sized company stocks.

(PERCENTAGE ICON)
PAST PERFORMANCE
- ---------------------------------------------------------
No performance is shown for the fund as it did not commence operations until
August 1, 2006. Performance information for the fund will appear in a future
version of this prospectus once the fund has a full calendar year of performance
information to report to investors.

(DOLLAR ICON)
FEES AND EXPENSES
- ---------------------------------------------------------

There are no sales charges (load) or other transaction fees. Class I shares for
this fund are offered for investment by strategic asset allocation funds only.

                                        3

TA IDEX OPPENHEIMER SMALL- & MID-CAP VALUE
- --------------------------------------------------------------------------------

The following table describes the fees and expenses that you may pay if you buy
and hold shares of the fund.



- -----------------------------------------------------------------------------
ANNUAL FUND OPERATING EXPENSES (expenses that are deducted
from fund assets, expressed as a % of average daily net assets)(a)
                                                             CLASS I SHARES
- -----------------------------------------------------------------------------
                                                         
 Management fees                                                  0.95%
 Distribution and service (12b-1) fees                             N/A
 Other expenses                                                     %
- -----------------------------------------------------------------------------
                                                            -----------------
 TOTAL ANNUAL FUND OPERATING EXPENSES                               %
 EXPENSE REDUCTIONS(b)                                              %
                                                            -----------------
 NET OPERATING EXPENSES                                             %
- -----------------------------------------------------------------------------


(a) Annual fund operating expenses are based on estimates.
(b) Contractual arrangements have been made with the fund's investment adviser,
    Transamerica Fund Advisors, Inc. (TFAI), through August 1, 2007, to waive
    fees and/or reimburse fund expenses to the extent that the fund's total
    operating expenses exceed 1.15%. TFAI is entitled to reimbursement by the
    fund of fees waived or expenses reduced during any of the previous 36 months
    beginning on the date of the expense limitation agreement if on any day the
    estimated annualized fund operating expenses are less than 1.15%.

EXAMPLE
This example is here to help you compare the cost of investing in this fund with
the cost of investing in other mutual funds. It shows the cumulative expenses
you would pay if you invested $10,000 and held your shares for various time
periods, with a 5% annual return and fund operating expenses remaining the same.
This return is for illustrative purposes and is not guaranteed. Actual costs may
be higher or lower.



- ----------------------------------
 SHARE CLASS    1 YEAR    3 YEARS
- ----------------------------------
                   
      I          $         $
- ----------------------------------


(QUESTION MARK ICON)
ADDITIONAL INFORMATION
- ---------------------------------------------------------

MANAGEMENT

INVESTMENT ADVISER:

   Transamerica Fund Advisors, Inc. (TFAI)
   570 Carillon Parkway
   St. Petersburg, Florida 33716-1202

ADVISORY FEE:

TFAI receives compensation, calculated daily and paid monthly, from the fund at
the indicated annual rate (expressed as a specified percentage of the fund's
average daily net assets):



AVERAGE DAILY NET ASSETS
                                                 
First $100 million..............................     0.95%
Over $100 million up to $250 million............     0.90%
Over $250 million up to $500 million............     0.85%
Over $500 million...............................    0.825%


For additional information about TFAI, see the section entitled "Shareholder
Information - Investment Adviser" of this prospectus.

SUB-ADVISER:

   OppenheimerFunds, Inc.
   Two World Financial Center
   225 Liberty Street, 11th Floor
   New York, NY 10281-1008

SUB-ADVISORY FEE:

The sub-adviser receives monthly compensation from the investment adviser at the
annual rate of a specified percentage of the fund's average daily net assets.
The percentage for the fund is as follows:

                                                 
First $250 million..............................     0.40%
Over $250 million up to $500 million............    0.375%
Over $500 million...............................     0.35%



PORTFOLIO MANAGERS:

JOHN DAMIAN and CHRIS LEAVY, CFA, serve as portfolio managers of this portfolio.

Mr. Damian, lead Portfolio Manager, is a vice president at Oppenheimer. Before
joining Oppenheimer in September 2001, he was a senior equity analyst at
Citigroup Asset Management from November 1999 through September 2001. Prior to
that, from October 1997 through November 1999, he was a senior research analyst
at Pzena Investment Management. Mr. Damian received his M.B.A., with
distinction, from the Wharton School of the University of Pennsylvania in 1995.

Mr. Leavy is Co-Portfolio Manager and senior vice president, Head of the Value
Equity Team at Oppenheimer and joined Oppenheimer in September 2000. He was
previously a vice president and portfolio manager at Morgan Stanley Investment
Management from 1997 through September 2000. Prior to that, he served as a
portfolio manager and equity analyst at Crestar Asset Management. Mr. Leavy
graduated magna cum laude from Trinity University with a B.A. in economics.

The SAI provides additional information about the portfolio managers'
compensation, other accounts managed by the portfolio managers, and the
portfolio managers' ownership of securities in the fund.

A discussion regarding the basis of TA IDEX's Board of Trustees' approval of the
fund's advisory arrangements will be available in TA IDEX's annual report for
the fiscal period ending October 31, 2006.

FINANCIAL HIGHLIGHTS:

Financial Highlights for this fund are not included in this prospectus because
the fund commenced operations on August 1, 2006.

                                        4


TA IDEX BJURMAN, BARRY MICRO EMERGING GROWTH
- --------------------------------------------------------------------------------

SUMMARY OF RISKS AND RETURNS

(CHECK MARK ICON)
OBJECTIVE
- ---------------------------------------------------------
The objective of TA IDEX Bjurman, Barry Micro Emerging Growth is to seek capital
appreciation.

(CIRCLE I ICON)
PRINCIPAL STRATEGIES AND POLICIES
- ---------------------------------------------------------
The fund's sub-adviser, Bjurman, Barry & Associates (Bjurman, Barry), will
invest under normal market conditions, at least 80% of its assets in the common
stocks of emerging growth U.S. companies whose total market capitalization at
the time of investment is generally between $30 million and $1 billion, and
which, in the opinion of Bjurman, Barry, have superior earnings growth
characteristics.

Bjurman, Barry uses five quantitative models that emphasize both growth and
value attributes, including earnings growth, earnings strength, earnings
revision, price/earnings to growth ratio, and cash flow to price. This procedure
identifies approximately 230 attractively priced stocks with the best growth
prospects, which are further screened based on a top-down economic analysis
designed to identify what the manager believes are the most promising industries
over the next 12 to 18 months. Company fundamental analysis is then employed to
produce a portfolio of stocks in the most promising sectors of the economy.

- - WHAT IS A "TOP-DOWN" APPROACH?
When using a "top-down" approach, the fund manager looks first at broad market
factors, and on the basis of those market factors, chooses certain sectors, or
industries within the overall market. The manager then looks at individual
companies within those sectors or industries.

To ensure a well diversified portfolio, assets in any one issue or industry are
generally limited to 5% and 15%, respectively, of total assets. The Investment
Policy Committee reviews investment alternatives and implements portfolio
changes as attractive investment opportunities become available. The closing
prices of portfolio issues are reviewed daily. Any position that has declined
15% from its cost or from its recent high is re-examined as a potential sale
candidate. Additionally, securities of companies that the Committee determines
are overvalued or have lost earnings momentum, or are in industries no longer
expected to perform well, are continually evaluated for sale.

Under adverse or unstable market conditions, the fund could invest some or all
of its assets in cash, repurchase agreements and money market instruments.
Although the fund would do this only in seeking to avoid losses, the fund may be
unable to pursue its investment objective during that time, and it could reduce
the benefit from any upswing in the market.

(EXCLAMATION ICON)
PRINCIPAL RISKS
- ---------------------------------------------------------
The fund is subject to the following principal investment risks:

- - STOCKS
While stocks have historically outperformed other investments over the long
term, their prices tend to go up and down more dramatically over the shorter
term. These price movements may result from factors affecting individual
companies, industries or the securities market as a whole.

Because the stocks the fund holds may fluctuate in price, the value of your
investment in the fund will go up and down.

- - SMALL- AND MICRO-SIZED COMPANIES

Investing in small companies involves substantial risks and should be considered
speculative. Historically, smaller company securities have been more volatile in
price than larger company securities, especially over the short term. Among the
reasons for the greater price volatility are the less certain growth prospects
of smaller companies, the lower degree of liquidity in the markets for such
securities, and the greater sensitivity of smaller companies to changing
economic conditions. Such companies usually do not pay significant dividends
that could cushion returns in a falling market.

Investing in micro-sized companies involves even more risks than investing in
other small companies. Micro-sized companies sometimes are not well-known to
investors and may not have significant institutional and long-term investors.
They tend to have small revenues, product lines, markets and financial
resources, and their securities may trade less frequently and in more limited
volume (and may thus be less liquid) than other larger companies. They may be
engaged in activities for which the market is developing or may never develop.
If adverse developments occur, the value of their securities may lose
substantial value and be very volatile. They often require a long-term
investment view and are not appropriate for all investors.

- - GROWTH STOCKS
Growth stocks can be volatile for several reasons. Since growth companies
usually reinvest a high proportion of their earnings in their own business, they
may lack the dividends often associated with the value stocks that could cushion
their decline in a falling market. Also, since investors buy growth stocks
because of their expected superior earnings growth, earnings disappointments
often result in sharp price declines. Certain types of growth stocks,
particularly technology stocks, can be extremely volatile and subject to greater
price swings than the broader market.

- - VALUE
The value approach carries the risk that the market will not recognize a
security's intrinsic value for a long time, or that a stock considered to be
undervalued may actually be appropriately priced.

- - INDUSTRY FOCUS
Stocks of issuers in a particular industry may be affected by changes in
economic conditions, government regulations, availability of basic resources or
supplies, or other events that affect the industry more than others. To the
extent that the fund is emphasizing investments in a particular industry, its
share values may fluctuate in response to events affecting that industry.

- - INVESTING AGGRESSIVELY

- - The value of developing-company stocks may be vary volatile, and can drop
  significantly in a short period of time.

- - Rights, options and futures contracts may not be exercised and may expire
  worthless.

- - Warrants and rights may be less liquid than stocks.

- - Use of futures and other derivatives may make the portfolio more volatile.

                                        5

TA IDEX BJURMAN, BARRY MICRO EMERGING GROWTH
- --------------------------------------------------------------------------------

- - EMERGING GROWTH COMPANIES
Companies that Bjurman, Barry believes are emerging growth companies are often
companies with accelerating or higher than average rates of earnings growth, or
companies with new or limited products, services, markets, distribution channels
or financial resources, or the management of such companies may be dependent
upon one or a few key people, or the companies have other special circumstances.
The stocks of emerging growth companies can be subject to more abrupt or erratic
market movements than the stock market in general.

- - MARKET
The value of securities owned by the fund may go up or down, sometimes rapidly
or unpredictably. Securities may decline in value due to factors affecting
securities markets generally or particular industries.

YOU MAY LOSE MONEY IF YOU INVEST IN THIS FUND.

These and other risks are fully described in the section entitled "Explanation
of Strategies and Risks" in Appendix A of this prospectus.

DISCLOSURE OF PORTFOLIO HOLDINGS
A detailed description of the fund's policies and procedures with respect to the
disclosure of the fund's portfolio securities is available in the Statement of
Additional Information. In addition, investors should note that the fund
publishes its holdings on its website at www.transamericaidex.com 30 days after
the end of each calendar quarter. Such information will generally remain online
for six months or as otherwise consistent with applicable regulations.

- - INVESTOR PROFILE
This fund may be appropriate for investors who seeks capital appreciation over
the long term; is willing to assume the increased risks of investing in very
small-sized, less established companies in exchange for potentially higher
capital appreciation, can withstand substantial volatility in the value of his
shares of the fund; and wishes to add to his personal holdings a fund that
invests primarily in common stocks of emerging growth companies.

(PERCENTAGE ICON)
PAST PERFORMANCE
- ---------------------------------------------------------
No performance is shown for the fund as it did not start operations until August
1, 2006. Performance information for the fund will appear in a future version of
this prospectus once the fund has a full calendar year of performance
information to report to investors.

(DOLLAR ICON)
FEES AND EXPENSES
- ---------------------------------------------------------
There is no sales charge (load) or 12b-1 distribution and service fee on Class I
shares, which are currently being offered for sale only to certain asset
allocation funds.

The following table describes the fees and expenses that you may pay if you buy
and hold shares of the fund.



- ----------------------------------------------------------------------------
ANNUAL FUND OPERATING EXPENSES (expenses that are deducted
from fund assets, expressed as a % of average daily net assets)(a)
                                                            CLASS I SHARES
- ----------------------------------------------------------------------------
                                                        
 Management fees                                                 1.05%
 Distribution and service (12b-1) fees                            N/A
 Other expenses                                                    %
- ----------------------------------------------------------------------------
                                                           -----------------
 TOTAL ANNUAL FUND OPERATING EXPENSES                              %
 EXPENSE REDUCTION(b)                                            0.00%
                                                           -----------------
 NET OPERATING EXPENSES                                            %
- ----------------------------------------------------------------------------


(a) Annual fund operating expenses are based on estimates.
(b) Contractual arrangements have been made with the fund's investment adviser,
    Transamerica Fund Advisors, Inc. (TFAI), through August 1, 2007, to waive
    fees and/or reimburse fund expenses to the extent that the fund's total
    expenses exceed 1.25%. TFAI is entitled to reimbursement by the fund of fees
    waived or expenses reduced during any of the previous 36 months beginning on
    the date of the expense limitation agreement if on any day the estimated
    annualized fund operating expenses are less than 1.25%.

EXAMPLE
This example is here to help you compare the cost of investing in this fund with
the cost of investing in other mutual funds. It shows the cumulative expenses
you would pay if you invested $10,000 and held your shares for various time
periods, with a 5% annual return and fund operating expenses remaining the same.
This return is for illustrative purposes and is not guaranteed. Actual costs may
be higher or lower.



- ----------------------------------
SHARE CLASS    1 YEAR     3 YEARS
- ----------------------------------
                   
      I         $          $
- ----------------------------------


(QUESTION MARK ICON)
ADDITIONAL INFORMATION
- ---------------------------------------------------------

MANAGEMENT

INVESTMENT ADVISER:

   Transamerica Fund Advisors, Inc. (TFAI)
   570 Carillon Parkway
   St. Petersburg, Florida 33716-1202

ADVISORY FEE:

TFAI receives compensation, calculated daily and paid monthly, from the fund at
the indicated annual rate (expressed as a specified percentage of the fund's
average daily net assets):



AVERAGE DAILY NET ASSETS
                                                 
First $250 million..............................     1.05%
Over $250 million up to $500 million............     1.00%
Over $500 million...............................    0.975%


For additional information about TFAI, see the section entitled "Shareholder
Information - Investment Adviser" of this prospectus.

SUB-ADVISER:

   Bjurman, Barry & Associates
   10100 Santa Monica Blvd.
   Suite 1200
   Los Angeles, CA 90067-4103

SUB-ADVISORY FEE:

The sub-adviser receives monthly compensation from the investment adviser at the
annual rate of a specified percentage of the fund's average daily net assets.
The percentage for the fund is as follows: 0.55%

                                        6

TA IDEX BJURMAN, BARRY MICRO EMERGING GROWTH
- --------------------------------------------------------------------------------

PORTFOLIO MANAGER:

O. THOMAS BARRY, III, CFA, CIC, serves as portfolio manager of this portfolio.
Mr. Barry is Chief Investment Officer and Senior Executive Vice President of
Bjurman, Barry & Associates. He serves as a Senior Portfolio Manager, member of
the Board of Directors, and a Principal Member of the Investment Policy
Committee. Prior to joining the firm in 1978, he was the Senior Investment
Officer and Portfolio Manager at Security National Pacific Bank. Mr. Barry
earned a B.A. majoring in Economics at the University of Iowa and his M.B.A. in
Corporate Finance and Accounting at California State University, Long Beach.

The SAI provides additional information about the portfolio manager's
compensation, other accounts managed by the portfolio manager, and the portfolio
manager's ownership of securities in the fund.

A discussion regarding the basis of TA IDEX's Board of Trustees' approval of the
fund's advisory arrangements will be available in TA IDEX's annual report for
the fiscal period ending October 31, 2006.

FINANCIAL HIGHLIGHTS:

Financial Highlights for this fund are not included in this prospectus because
the portfolio commenced operations August 1, 2006.

                                        7


SECTION B -- SHAREHOLDER INFORMATION
- --------------------------------------------------------------------------------

REGULATORY PROCEEDINGS

There continues to be significant federal and state regulatory activity relating
to financial services companies, particularly mutual fund companies and their
investment advisers. As part of an ongoing investigation regarding potential
market timing, recordkeeping and trading compliance issues and matters affecting
Transamerica Fund Advisors, Inc. (TFAI), the investment adviser for TA IDEX and
certain affiliates and former employees of TFAI, the Securities and Exchange
Commission (SEC) staff has indicated that it is likely to take some action
against TFAI and certain of its affiliates at the conclusion of the
investigation. The potential timing and the scope of any such action is
difficult to predict. Although the impact of any action brought against TFAI
and/or its affiliates is difficult to assess at the present time, the funds
currently believe that the likelihood that it will have a material adverse
impact on them is remote. It is important to note that the funds are not aware
of any allegation of wrongdoing against them and their board at the time this
prospectus is printed. Although it is not anticipated that these developments
will have an adverse impact on the funds, there can be no assurance at this
time. TFAI and its affiliates are actively working with the SEC in regard to
this matter; however, the exact resolution cannot be determined at this time.
TFAI will take such actions that it deems necessary or appropriate to continue
providing management services to the funds and to bring all matters to an
appropriate conclusion.

TFAI and/or its affiliates, and not the funds, will bear the costs regarding
these regulatory matters.

INVESTMENT ADVISER

TA IDEX's Board of Trustees is responsible for managing the business affairs of
TA IDEX. The Board oversees the operation of TA IDEX by its officers. It also
reviews the management of each fund's assets by TFAI and investment
sub-advisers. You can find additional information about the TA IDEX Trustees and
officers in the SAI.

TFAI, located at 570 Carillon Parkway, St. Petersburg, Florida 33716, serves as
investment adviser for TA IDEX. The investment adviser hires investment
sub-advisers to furnish investment advice and recommendations and has entered
into sub-advisory agreements with each fund's sub-adviser. The investment
adviser also monitors the sub-adviser's buying and selling of portfolio
securities and administration of the funds. For these services, TFAI is paid an
investment advisory fee. This fee is calculated on the average daily net assets
of each fund, and is paid at the rate previously shown in this prospectus.

TFAI is directly-owned by Western Reserve Life Assurance Co. of Ohio (77%)
(Western Reserve) and AUSA Holding Company (23%) (AUSA), both of which are
indirect, wholly-owned subsidiaries of AEGON N.V. AUSA is wholly-owned by
Transamerica Holding Company, which is wholly-owned by AEGON USA, Inc. (AEGON
USA), a financial services holding company whose primary emphasis is on life and
health insurance, and annuity and investment products. AEGON USA, is a wholly-
owned indirect subsidiary of AEGON N.V., a Netherlands corporation and publicly
traded international insurance group. Great Companies, L.L.C., AEGON USA
Investment Management, LLC and Transamerica Investment Management, LLC (TIM) are
affiliates of TFAI and TA IDEX.

TFAI and/or its affiliates may pay, out of its own resources and not out of Fund
assets, for distribution and/or administrative services provided by broker-
dealers and other financial intermediaries. See the section titled "Other
Distribution or Service Arrangements" in this prospectus.

TA IDEX may rely on an Order from the Securities and Exchange Commission
(Release IC-23379 dated August 5, 1998) that permits TA IDEX and its investment
adviser, TFAI subject to certain conditions, and without the approval of
shareholders to:

(1) employ a new unaffiliated sub-adviser for a fund pursuant to the terms of a
    new investment sub-advisory agreement, either as a replacement for an
    existing sub-adviser or as an additional sub-adviser;

(2) materially change the terms of any sub-advisory agreement; and

(3) continue the employment of an existing sub-adviser on sub-advisory contract
    terms where a contract has been assigned because of a change of control of
    the sub-adviser.

In such circumstances, shareholders would receive notice and information about
the new sub-adviser within ninety (90) days after the hiring of any new
sub-adviser.

CLASS I SHARES

PURCHASE AND REDEMPTION OF SHARES

Class I shares of the funds in this prospectus are currently offered for
investment only to the following TA IDEX fund of funds: TA IDEX Asset
Allocation - Conservative Portfolio; TA IDEX Asset Allocation - Growth
Portfolio; TA IDEX Asset Allocation - Moderate Growth Portfolio; TA IDEX Asset
Allocation - Moderate Portfolio and TA IDEX Multi-Manager International Fund,
and the following fund of funds of AEGON/Transamerica Series Trust (ATST): ATST
Asset Allocation - Conservative Portfolio; ATST Asset Allocation - Growth
Portfolio; ATST Asset Allocation - Moderate Growth Portfolio, ATST Asset
Allocation - Moderate Portfolio and ATST International Moderate Growth Fund.
Shares of the funds may be made available to other investors in the future.

FEATURES AND POLICIES

HOW SHARE PRICE IS DETERMINED

The price at which shares are purchased or redeemed is the net asset value per
share ("NAV") that is next calculated following receipt and acceptance of a
purchase order in good order or receipt of a redemption order in good order by a
fund or an authorized intermediary.

WHEN SHARE PRICE IS DETERMINED

The NAV of all funds is determined on each day the New York Stock Exchange
("NYSE") is open for business. The NAV is not determined on days when the NYSE
is closed (generally New Year's Day, Martin Luther King Jr. Day, President's
Day, Good

                                        8

SECTION B -- SHAREHOLDER INFORMATION
- --------------------------------------------------------------------------------

Friday, Memorial Day, Independence Day, Labor Day, Thanksgiving and Christmas).
Foreign securities may trade in their primary markets on weekends or other days
when a fund does not price its shares (therefore, the NAV of a fund holding
foreign securities may change on days when shareholders will not be able to buy
or sell shares of the funds).

Purchase orders received in good order and accepted, and redemption orders
received in good order, before the close of business on the NYSE, usually 4:00
p.m. Eastern Time, receive the NAV determined as of the close of the NYSE that
day. Purchase and redemption requests received after the NYSE is closed receive
the NAV determined as of the close of the NYSE the next day the NYSE is open.

Orders for shares of the asset allocation funds mentioned above that invest in
Class I shares of the funds and corresponding orders for the Class I shares of
the funds are priced on the same day when orders for shares of the asset
allocation funds are received. Consequently, receipt in good order and
acceptance of a purchase request or receipt in good order of a redemption
request for shares of the asset allocation funds before the close of business on
the NYSE is deemed to constitute receipt of a proportional order for the
corresponding Class I shares of the funds on the same day, so that both orders
generally will receive that day's NAV.

HOW NAV IS CALCULATED

The NAV of each fund (or class thereof) is calculated by taking the value of its
assets, less liabilities, and dividing by the number of shares of the fund (or
class) that are then outstanding.

In general, securities and other investments are valued at market value when
market quotations are readily available. Fund securities listed or traded on
domestic securities exchanges or the NASDAQ/NMS, including dollar-denominated
foreign securities or ADRs, are valued at the closing price on the exchange or
system where the security is principally traded. With respect to securities
traded on the NASDAQ/NMS, such closing price may be the last reported sale price
or the NASDAQ Official Closing Price ("NOCP"). If there have been no sales for
that day on the exchange or system where the security is principally traded,
then the value should be determined with reference to the last sale price, or
the NOCP, if applicable, on any other exchange or system. If there have been no
sales for that day on any exchange or system, a security is valued at the
closing bid quotes on the exchange or system where the security is principally
traded, or at the NOCP, if applicable. Foreign securities traded on U.S.
exchanges are generally priced using last sale price regardless of trading
activity. Securities traded over-the-counter are valued at the mean of the last
bid and asked prices. Investments in securities maturing in 60 days or less may
be valued at amortized cost. Foreign securities generally are valued based on
quotations from the primary market in which they are traded, and are converted
from the local currency into U.S. dollars using current exchange rates. Market
quotations for securities prices may be obtained from automated pricing
services. Shares of open-end investment companies are generally valued at the
net asset value per share reported by that investment company.

When a market quotation for a security is not readily available (which may
include closing prices deemed to be unreliable because of the occurrence of a
subsequent event), a valuation committee appointed by the Board of Trustees may,
in good faith, establish a fair value for the security in accordance with
valuation procedures adopted by the Board. The types of securities for which
such fair value pricing may be required include, but are not limited to: foreign
securities, where a significant event occurs after the close of the foreign
market on which such security principally trades that is likely to have changed
the value of such security, or the closing value is otherwise deemed unreliable;
securities of an issuer that has entered into a restructuring; securities whose
trading has been halted or suspended; fixed-income securities that have gone
into default and for which there is no current market value quotation; and
securities that are restricted as to transfer or resale.

Valuing securities at fair value involves greater reliance on judgment than
securities that have readily available market quotations. The valuation
committee makes such determinations in good faith in accordance with the funds'
valuation procedures. Fair value determinations can also involve reliance on
quantitative models employed by a fair value pricing service. There can be no
assurance that a fund could obtain the fair value assigned to a security if it
were to sell the security at approximately the time at which the fund determines
its NAV per share.

MARKET TIMING AND DISRUPTIVE TRADING

Some investors try to profit from various short-term or frequent trading
strategies known as market timing and disruptive trading. Examples of market
timing and disruptive trading include switching money into funds when their
share prices are expected to rise and taking money out when their share prices
are expected to fall, and switching from one fund to another and then back again
after a short period of time. Such trading activities may have harmful effects.
For example, as money is shifted in and out, a fund may incur expenses for
buying and selling securities. Excessive purchases, redemptions or exchanges of
fund shares also may have an adverse effect on fund management and performance
by impeding a fund manager's ability to sustain an investment objective, causing
the fund to maintain a higher level of cash than would otherwise be the case, or
causing the fund to liquidate investments prematurely (or otherwise at an
inopportune time) in order to pay redemption proceeds and incur increased
brokerage and administrative expenses. Also, if purchases, redemptions or
transfers in and out of a fund are made at prices that do not reflect an
accurate value for the fund's investments, the interests of long-term investors
could be diluted. These effects are suffered by all investors in the funds, not
just those making the trades, and they may hurt fund performance.

THE TA IDEX BOARD OF TRUSTEES HAS APPROVED POLICIES AND PROCEDURES THAT ARE
DESIGNED TO DISCOURAGE MARKET TIMING AND DISRUPTIVE TRADING.

The funds rely on the insurance companies that offer shares of the funds as
investment options for variable contracts to monitor market timing and
disruptive trading by their customers. The funds seek periodic certifications
from the insurance companies that they have policies and procedures in place
designed to monitor and prevent market timing and disruptive trading activity by
their customers, and that they will use their best efforts to prevent market
timing and disruptive trading activity that appears to be in contravention of
the funds' policies on market timing or disruptive trading as disclosed in this
prospectus. The funds also may instruct from time to time the insurance
companies to

                                        9

SECTION B -- SHAREHOLDER INFORMATION
- --------------------------------------------------------------------------------

scrutinize purchases, including purchases in connection with exchange
transactions, that exceed a certain size. Each fund reserves the right, in its
sole discretion and without prior notice, to reject, delay, restrict or refuse,
in whole or in part, any request to purchase shares, including purchases in
connection with an exchange transaction and orders that have been accepted by an
intermediary, which it reasonably determines to be in connection with market
timing or disruptive trading by a contract or policy owner (a "contract owner")
or by accounts of contract owners under common control (for example, related
contract owners, or a financial adviser with discretionary trading authority
over multiple accounts). The funds apply these policies and procedures to all
investors on a uniform basis and do not make special arrangements or grant
exceptions to accommodate market timing or disruptive trading.

While the funds discourage market timing and disruptive trading, the funds
cannot always recognize or detect such trading, particularly if it is
facilitated by financial intermediaries or done through omnibus account
arrangements (orders through omnibus account arrangements reflect the
aggregation and netting of multiple orders from individual investors). The
omnibus nature of the orders received by the funds from insurance companies
limits the funds' ability to apply their restrictions against market timing and
disruptive trading. In addition, implementation of the funds' restrictions may
require the cooperation of financial intermediaries, which cannot necessarily be
assured, and there is no guarantee that the procedures used by the insurance
companies will be able to curtail all market timing or disruptive trading
activity. For example, shareholders who seek to engage in such activity may use
a variety of strategies to avoid detection, and the insurance companies' ability
to deter such activity may be limited by operational and technological systems
as well as their ability to predict strategies employed by investors (or those
acting on their behalf) to avoid detection. Also, the funds do not expressly
limit the number or size of trades in a given period, and they provide no
assurance that they will be able to detect or deter all market timing or
disruptive trading. It is therefore likely that some level of market timing or
disruptive trading will occur before the insurance companies and/or the funds
are able to detect it and take steps in an attempt to deter it. All shareholders
may thus bear the risks associated with such activity. Moreover, the ability to
discourage and restrict market timing or disruptive trading may be limited by
decisions of state regulatory bodies and court orders that cannot be predicted.
Investors should also review the prospectus that describes the variable
contracts that they are purchasing to learn more about the policies and
procedures used by insurance companies to detect and deter frequent, short-term
trading.

IF YOU INTEND TO CONDUCT MARKET TIMING OR POTENTIALLY DISRUPTIVE TRADING, WE
REQUEST THAT YOU DO NOT INVEST IN SHARES OF ANY OF THE FUNDS.

ASSET ALLOCATION FUNDS

The TA IDEX and ATST funds of funds discussed above that invest in the TA IDEX
funds may own a significant portion of the shares of a TA IDEX fund.
Transactions by a fund of funds may be disruptive to an underlying TA IDEX fund.

INVESTMENT POLICY CHANGES

The funds, as part of their investment policies, invest at least 80% of their
assets (defined as net assets plus the amount of any borrowing for investment
purposes) in certain investments as indicated in this prospectus. Shareholders
will be provided with at least 60 days' prior written notice of any changes in
the 80% investment policy. Such notice will comply with the conditions set forth
in any applicable SEC rules then in effect.

NOTE: Unless expressly designated as fundamental, all policies and procedures of
the funds may be changed at any time by TA IDEX's Board of Trustees without
shareholder approval.

To the extent authorized by law, TA IDEX and the each of the funds reserve the
right to discontinue offering shares at any time, or to cease operations
entirely.

DISTRIBUTION OF SHARES

UNDERWRITING AGREEMENT

TA IDEX has an Underwriting Agreement with AFSG Securities Corporation (AFSG),
located at 4333 Edgewood Road NE, Cedar Rapids, Iowa 52499. AFSG is an affiliate
of TFAI and TA IDEX. Under this agreement, AFSG underwrites and distributes all
classes of fund shares and bears expenses of offering these shares to the
public.

OTHER DISTRIBUTION OR SERVICE ARRANGEMENTS

Transamerica Capital, Inc. ("TCI") (an affiliate of TFAI, TIM and AFSG), TFAI,
TIM and other fund sub-advisers, directly or through TCI, out of their own
resources and not out of fund assets (i.e., without additional cost to the funds
or their shareholders), may provide additional cash payments or non-cash
compensation to some, but not all, brokers and other financial intermediaries
who sell shares of the asset allocation funds that invest in the funds or render
investor services to asset allocation fund shareholders. Such payments and
compensation are in addition to the sales charges, Rule 12b-1 plan fees, service
fees and other fees paid, directly or indirectly, by the asset allocation funds
to such brokers and other financial intermediaries. These arrangements are
sometimes referred to as "revenue sharing" arrangements. Revenue sharing
arrangements are not financed by the funds, do not result in increased expenses,
are not reflected in the fees and expenses section of this prospectus and are
described in more detail in the prospectus of the funds of funds.

DISTRIBUTIONS AND TAXES

TAXES ON DISTRIBUTIONS IN GENERAL

The funds will distribute all or substantially all of their net investment
income and net capital gains to their shareholders each year. Although the funds
will not have to pay income tax on amounts they distribute to shareholders, most
shareholders will be taxed on amounts they receive. Shareholders who are not
subject to tax on their income, such as qualified retirement accounts and other
tax-exempt investors, generally will not be required to pay any tax on
distributions. If the funds declare a dividend in October, November, or December
but pay it in January, you will be taxed on the dividend as if you received it
in the previous year.

                                        10

SECTION B -- SHAREHOLDER INFORMATION
- --------------------------------------------------------------------------------

You normally will be taxed on distributions you receive from the funds,
regardless of whether they are paid to you in cash or are reinvested in
additional fund shares. A particular distribution generally will be taxable as
either ordinary income or as long-term capital gain. Distributions that are
derived from net long-term capital gains will typically be taxed as long-term
capital gain. Other distributions will usually be taxable as ordinary income.
Except as described below, the tax consequences of a distribution do not depend
upon how long you held your fund shares.

Current tax law generally provides for a maximum tax rate for individual
taxpayers of 15% on long-term capital gains and from certain qualifying
dividends on corporate stock. These rate reductions do not apply to corporate
taxpayers. The following are guidelines for how certain distributions by a fund
are generally taxed to individual taxpayers:

- - Distributions of earnings from qualifying dividends and qualifying long-term
  capital gains will be taxed at a maximum rate of 15% (5% for individuals in
  the 10% and 15% federal tax rate brackets).

- - Note that distributions of earnings from dividends paid by certain "qualified
  foreign corporations" can also qualify for the lower tax rates on qualifying
  dividends.

- - A shareholder will also have to satisfy a more than 60-day holding period with
  respect to any distributions of qualifying dividends in order to obtain the
  benefit of the lower tax rate.

- - Distributions of earnings from non-qualifying dividends, interest income,
  other types of ordinary income and short-term capital gains will be taxed at
  the ordinary income tax rate applicable to the taxpayer.

The funds will send you a tax report annually summarizing the amount of and the
tax aspects of your distributions.

If you buy shares of the funds before they make a distribution, the distribution
will be taxable to you even though it may actually be a return of a portion of
your investment. This is known as "buying a dividend."

Investors who invest through tax-deferred accounts, such as IRAs, 403(b)
accounts, and qualified retirement plans, will ordinarily not be subject to tax
until a distribution is made, at which time such distribution is generally taxed
as ordinary income. These accounts are subject to complex tax rules and each
tax-deferred account investor should consult their tax advisers regarding their
investments in a tax-deferred account.

TAXES ON THE SALE OF SHARES

If shares of a fund are sold for shares of another fund, you generally will have
a capital gain or loss, which will be long-term capital gain if you held the
shares for more than one year; otherwise it is a short-term capital gain. Such
gain or loss is computed by subtracting your tax basis in the shares from the
redemption proceeds (in the case of a sale) or the value of the shares received
(in the case of an exchange). Because your tax basis depends on the original
purchase price and on the price at which any dividends may have been reinvested,
you should be sure to keep account statements so that you or your tax preparer
will be able to determine whether a sale will result in a taxable gain. If your
tax basis in the shares exceeds your redemption proceeds (or the value of the
shares received in the case of anexchange), you will recognize a taxable loss on
the sale of shares of the fund. Any loss recognized on shares held for six
months or less will be treated as long-term capital loss to the extent of any
long-term capital gain distributions that were received with respect to the
shares. Additionally, any loss realized on a sale of shares of a fund may be
disallowed under "wash sale" rules to the extent the shares disposed of are
replaced with other shares of that fund within a period of 61 days beginning 30
days before and ending 30 days after the shares are disposed of, such as
pursuant to a dividend reinvestment in shares of that fund. If disallowed, the
loss will be reflected in an adjustment to the tax basis of the shares acquired.

If more than 50% of the value of the total assets of a fund consists of stock or
securities of foreign corporations at the close of a taxable year, the fund may
elect to treat certain foreign taxes paid by them as paid by their shareholders.
If a fund makes this election, the amount of the foreign taxes paid by the fund
will be included in its shareholders' income pro rata (in addition to taxable
distributions actually received by them), and its shareholders will be entitled
either (a) to credit their proportionate amounts of the foreign taxes paid by
the fund against their federal income tax liabilities, or (b) to deduct their
proportionate amounts from their federal taxable income under certain
circumstances.

WITHHOLDING TAXES

As with all mutual funds, the funds may be required to withhold U.S. federal
income tax at the fourth lowest tax rate applicable to unmarried individuals
(currently 28%) of all taxable distributions payable to you if you fail to
provide the funds with your correct taxpayer identification number or to make
required certifications, or if you have been notified by the IRS that you are
subject to backup withholding. Backup withholding is not an additional tax, but
is a method by which the IRS ensures that it will collect taxes otherwise due.
Any amounts withheld may be credited against your U.S. federal income tax
liability.

OTHER TAX INFORMATION

This tax discussion is for general information only. In addition to federal
income taxes, you may be subject to state, local or foreign taxes on payments
received from, and investment made in shares of the TA IDEX funds. More
information is provided in the SAI of the funds. You should also consult your
own tax advisor for information regarding all tax consequences applicable to
your investments in the funds.

                                        11


APPENDIX A

EXPLANATION OF STRATEGIES AND RISKS
- --------------------------------------------------------------------------------

HOW TO USE THIS SECTION

In the discussions of the individual fund(s) in which you invest, you found
descriptions of the principal strategies and risks associated with such fund(s).
In those pages, you were referred to this section for a more complete
description of the risks of both principal and non-principal investments. For
best understanding, first read the description of the fund you are interested
in. Then refer to this section and read about the risks particular to that fund.
For even more discussions of strategies and risks, see the SAI of the funds,
which is available upon request. See the back cover of this prospectus for
information on how to order the SAI.

DIVERSIFICATION

The Investment Company Act of 1940 ("1940 Act") classifies investment companies
as either diversified or non-diversified. Diversification is the practice of
spreading a fund's assets over a number of issuers to reduce risk. A
non-diversified fund has the ability to take larger positions in fewer issuers.
Because the appreciation or depreciation of a single security may have a greater
impact on the net asset value of a non-diversified fund, its share price can be
expected to fluctuate more than a diversified fund.

The funds qualify as diversified funds under the 1940 Act.

INVESTING IN COMMON STOCKS

While common stocks have historically outperformed other investments over the
long term, their prices tend to go up and down more dramatically over the
shorter term. Many factors may cause common stocks to go up and down in price. A
major factor is the financial performance of the company that issues the stock.
Other factors include the overall economy, conditions in a particular industry,
and monetary factors like interest rates. Because the stocks a fund may hold
fluctuate in price, the value of a fund's investments in the fund will go up and
down.

INVESTING IN PREFERRED STOCKS

Because these stocks generally come with a promise to pay a stated dividend,
their price could depend more on the size of the dividend than on the company's
performance. If a company fails to pay the dividend, its preferred stock is
likely to drop in price. Changes in interest rates can also affect their price.
(See "Investing in bonds," below.)

INVESTING IN CONVERTIBLES

Since preferred stocks and corporate bonds generally pay a stated return, their
prices usually do not depend on the price of the company's common stock. But
some companies issue preferred stocks and bonds that are convertible into their
common stocks. Linked to the common stock in this way, convertible securities
typically go up and down in price inversely to interest rates as the common
stock does, adding to their market risk. Convertible securities generally offer
lower interest or dividend yields than non-convertible securities of similar
quality. However, when the market price of the common stock underlying a
convertible security exceeds the conversion price, the price of the convertible
security tends to reflect the value of the underlying common stock.

VOLATILITY

The more an investment goes up and down in price, the more volatile it is said
to be. Volatility increases the market risk (i.e., risk of loss due to
fluctuation in value) because even though your fund may go up more than the
market in good times, it may also go down more than the market in bad times. If
you decide to sell when a volatile fund is down, you could lose more. Price
changes may be temporary and for extended periods.

INVESTING IN FIXED-INCOME INSTRUMENTS

The funds may invest in "Fixed-Income Instruments," which as used in this
prospectus include, among others:

- - securities issued or guaranteed by the U.S. Government, its agencies or
  government-sponsored enterprises ("U.S. Government Securities");

- - corporate debt securities of U.S. and non-U.S. issuers, including convertible
  securities and corporate commercial paper;

- - mortgage-backed and other asset-backed securities;

- - inflation-indexed bonds issued both by governments and corporations;

- - structured notes, including hybrid or "indexed" securities, event-linked bonds
  and loan participations;

- - delayed funding loans and revolving credit facilities;

- - bank certificates of deposit, fixed time deposits and bankers' acceptances;

- - repurchase agreements and reverse repurchase agreements;

- - debt securities issued by states or local governments and their agencies,
  authorities and other government-sponsored enterprises;

- - obligations of non-U.S. governments or their subdivisions, agencies and
  government-sponsored enterprises; and obligations of international agencies or
  supranational entities.

Like common stocks, fixed-income instruments fluctuate in value, although the
factors causing this may be different, including:

- - CHANGES IN INTEREST RATES.  Fixed-income instrument prices tend to move
  inversely to interest rates. Why? Because when interest rates on new
  fixed-income instrument issues go up, rates on existing fixed-income
  instruments stay the same and they become less desirable. When rates go down,
  the reverse happens. This is also true for most preferred stocks.

- - LENGTH OF TIME TO MATURITY.  When a fixed-income instrument matures, the
  issuer must pay the owner its face value. If the maturity date is a long way
  off, many things can affect its value, so a fixed-income instrument generally
  is more volatile the farther it is from maturity. As that date approaches,
  fluctuations usually become smaller and the price gets closer to face value.

- - DEFAULTS.  Fixed-income instrument issuers typically make at least two
  promises: (1) to pay interest during the fixed-income instrument's term and
  (2) to return principal when it matures. If an issuer fails to keep one or
  both of these promises, the fixed-income instrument will probably drop in
  price dramatically, and may even become worthless.

                                   APPENDIX A-1

APPENDIX A

EXPLANATION OF STRATEGIES AND RISKS
- --------------------------------------------------------------------------------

- - DECLINES IN RATINGS.  At the time of issue, many fixed-income instruments are
  rated by professional rating services, such as Moody's Investors Service
  (Moody's) and Standard & Poor's Ratings Group (S&P). The stronger the
  financial backing behind the fixed-income instruments, the higher the rating.
  If this backing is weakened or lost, the rating service may downgrade the
  fixed-income instrument's rating. This is virtually certain to cause the
  fixed-income instrument to drop in price.

- - LOW QUALITY.  High-yield/high-risk securities (commonly known as "junk bonds")
  have greater credit risk, are more sensitive to interest rate movements, are
  considered more speculative, have a greater vulnerability to economic changes
  are subject to greater price volatility and are less liquid than higher
  quality fixed-income securities. These securities may be more susceptible to
  credit risk and market risk than higher quality debt securities because their
  issuers may be less secure financially and more sensitive to downturns in the
  economy. In addition, the secondary market for such securities may not be as
  liquid as that for higher quality debt securities. As a result, a sub-adviser
  of a fund may find it more difficult to sell these securities or may have to
  sell them at lower prices. High yield securities are not generally meant for
  short-term investing.

- - LOSS OF LIQUIDITY.  If a fixed-income instrument is downgraded, or for other
  reasons drops in price, the market demand for it may "dry up." In that case,
  the fixed-income instrument may be hard to sell or "liquidate" (convert to
  cash).

INVESTING IN FOREIGN SECURITIES

Foreign securities are investments offered by non-U.S. companies, governments
and government agencies. They involve risks in addition to those associated with
securities of domestic issuers, including:

- - CHANGES IN CURRENCY VALUES.  Foreign securities may be sold in currencies
  other than U.S. dollars. If a currency's value drops relative to the dollar,
  the value of your fund shares could drop too. Also, dividend and interest
  payments may be lower. Factors affecting exchange rates include, without
  limitation: differing interest rates among countries; balances of trade;
  amount of a country's overseas investments; and intervention by banks. Some
  funds also invest in American Depositary Receipts (ADRs) and American
  Depositary Shares (ADSs). They represent securities of foreign companies
  traded on U.S. exchanges, and their values are expressed in U.S. dollars.
  Changes in the value of the underlying foreign currency will change the value
  of the ADR or ADS.

- - CURRENCY SPECULATION.  The foreign currency market is largely unregulated and
  subject to speculation. A fund's investments in foreign currency-denominated
  securities may reduce the returns of the fund.

- - DIFFERING ACCOUNTING AND REPORTING PRACTICES.  Foreign tax laws are different,
  as are laws, practices and standards for accounting, auditing and reporting
  data to investors.

- - LESS INFORMATION AVAILABLE TO THE PUBLIC. Foreign companies usually make far
  less information available to the public.

- - LESS REGULATION.  Securities regulations in many foreign countries are more
  lax than in the U.S. In addition, regulation of banks and capital markets can
  be weak.

- - MORE COMPLEX NEGOTIATIONS.  Because of differing business and legal
  procedures, a fund might find it hard to enforce obligations or negotiate
  favorable brokerage commission rates.

- - LESS LIQUIDITY/MORE VOLATILITY.  Some foreign securities are harder to convert
  to cash than U.S. securities, and their prices may fluctuate more
  dramatically.

- - SETTLEMENT DELAYS.  "Settlement" is the process of completing payment and
  delivery of a securities transaction. In many countries, this process takes
  longer than it does in the U.S.

- - HIGHER CUSTODIAL CHARGES.  Fees charged by the fund's custodian for holding
  shares are higher for foreign securities than those of domestic securities.

- - VULNERABILITY TO SEIZURE AND TAXES.  Some governments can seize assets. They
  may also limit movement of assets from the country. Fund interest, dividends
  and capital gains may be subject to foreign withholding taxes.

- - POLITICAL INSTABILITY AND SMALL MARKETS. Developing countries can be
  politically unstable. Economies can be dominated by a few industries, and
  markets may trade a small number of securities.

- - DIFFERENT MARKET TRADING DAYS.  Foreign markets may not be open for trading
  the same days as U.S. markets are open and asset values can change before your
  transaction occurs.

- - HEDGING.  A fund may enter into forward currency contracts to hedge against
  declines in the value of securities denominated in, or whose value is tied to,
  a currency other than the U.S. dollar or to reduce the impact of currency
  fluctuation on purchases and sales of such securities. Shifting a fund's
  currency exposure from one currency to another removes the fund's opportunity
  to profit from the original currency and involves a risk of increased losses
  for the fund if the sub-adviser's projection of future exchange rates is
  inaccurate.

- - EMERGING MARKET RISK.  Investing in the securities of issuers located in or
  principally doing business in emerging markets bear foreign exposure risks as
  discussed above. In addition, the risks associated with investing in emerging
  markets are often greater than investing in developed foreign markets.
  Specifically, the economic structures in emerging market countries typically
  are less diverse and mature than those in developed countries, and their
  political systems are less stable. Investments in emerging market countries
  may be affected by national policies that restrict foreign investments.
  Emerging market countries may have less developed legal structures, and the
  small size of their securities markets and low trading volumes can make
  investments illiquid and more

                                   APPENDIX A-2

APPENDIX A

EXPLANATION OF STRATEGIES AND RISKS
- --------------------------------------------------------------------------------

  volatile than investments in developed countries. In addition, a fund
  investing in emerging market countries may be required to establish special
  custody or other arrangements before investing.

INVESTING IN FORWARD FOREIGN CURRENCY CONTRACTS

A forward foreign currency contract is an agreement between contracting parties
to exchange an amount of currency at some future time at an agreed upon rate.
These contracts are used as a hedge against fluctuations in foreign exchange
rates. Hedging against a decline in the value of a currency does not eliminate
fluctuations in the prices of securities, or prevent losses if the prices of the
fund's securities decline. Such hedging transactions preclude the opportunity
for a gain if the value of the hedging currency should rise. Forward contracts
may, from time to time, be considered illiquid, in which case they would be
subject to the fund's limitations on investing in illiquid securities. If a
fund's manager makes the incorrect prediction, the opportunity for loss can be
magnified.

INVESTING IN SMALL- OR MEDIUM-SIZED COMPANIES

Investing in small- and medium-sized companies involves greater risk than is
customarily associated with more established companies. Stocks of such companies
may be subject to more abrupt or erratic price movements than larger company
securities. Small companies often have limited product lines, markets, or
financial resources and their management may lack depth and experience. Such
companies usually do not pay significant dividends that could cushion returns in
a falling market.

INVESTING IN SPECIAL SITUATIONS

Special situations arise when, in the opinion of a fund manager, a company's
securities may be undervalued, then potentially increase considerably in price,
due to:

- - a new product or process;

- - a management change;

- - a technological breakthrough;

- - an extraordinary corporate event;

- - a temporary imbalance in the supply of, and demand for, the securities of an
  Issuer

Investing in a special situation carries an additional risk of loss if the
expected development does not happen or does not attract the expected attention.
The impact of special situation investing to a fund will depend on the size of
the fund's investment in a situation.

PORTFOLIO TURNOVER

A fund may engage in a significant number of short-term transactions, which may
lower fund performance. High turnover rate will not limit a manager's ability to
buy or sell securities for these funds. Increased turnover (100% or more)
results in higher brokerage costs or mark-up charges for a fund. The funds
ultimately pass these charges on to shareholders. Short-term trading may also
result in short-term capital gains, which are taxed as ordinary income to
shareholders.

COUNTRY, SECTOR OR INDUSTRY FOCUS

Unless otherwise stated in a fund's objective or its principal strategies and
policies, as a fundamental policy governing concentration, no fund will invest
more than 25% of its total assets in any one particular industry, other than
U.S. government securities and its agencies. In addition, to the extent a fund
invests a significant portion of its assets in one or more countries, sectors or
industries at any time, the fund will face a greater risk of loss due to factors
affecting the country, sector or industry than if the fund always maintained
wide diversity among the countries, sectors and industries in which it invests.
For example, technology companies involve risks due to factors such as the rapid
pace of product change, technological developments and new competition. Their
stocks historically have been volatile in price, especially over the short term,
often without regard to the merits of individual companies. Banks and financial
institutions are subject to potentially restrictive governmental controls and
regulations that may limit or adversely affect profitability and share price. In
addition, securities in that sector may be very sensitive to interest rate
changes throughout the world.

SECURITIES LENDING

The funds may lend securities to other financial institutions that provide cash
or other securities as collateral. This involves the risk that the borrower may
fail to return the securities in a timely manner or at all. As a result, a fund
may lose money and there may be a delay in recovering the loaned securities. A
fund could also lose money if it does not recover the securities and/or the
value of the collateral falls, including the value of investments made with cash
collateral. These events could trigger adverse tax consequences to a fund.

IPOS

IPOs are subject to specific risks which include:

- - high volatility;

- - no track record for consideration;

- - securities may be illiquid;

- - earnings are less predictable.

TEMPORARY DEFENSIVE STRATEGIES

For temporary defensive purposes, a fund may, at times, choose to hold some
portion of its net assets in cash, or to invest that cash in a variety of debt
securities. This may be done as a defensive measure at times when desirable
risk/reward characteristics are not available in stocks or to earn income from
otherwise uninvested cash. When a fund increases its cash or debt investment
position, its income may increase while its ability to participate in stock
market advances or declines decrease. Furthermore, when a fund assumes a
temporary defensive position it may not be able to achieve its investment
objective.

INVESTMENT STYLE RISK

Different investment styles tend to shift in and out of favor depending upon
market and economic conditions as well as investor sentiment. A fund may
outperform or underperform other funds that employ a different investment style.
A fund may also employ a combination of styles that impact its risk

                                   APPENDIX A-3

APPENDIX A

EXPLANATION OF STRATEGIES AND RISKS
- --------------------------------------------------------------------------------

characteristics. Examples of different investment styles include growth and
value investing. Growth stocks may be more volatile than other stocks because
they are more sensitive to investor perceptions of the issuing company's growth
of earnings potential. Also, since growth companies usually invest a high
portion of earnings in their business, growth stocks may lack the dividends of
value stocks that can cushion stock prices in a falling market. Growth oriented
funds will typically underperform when value investing is in favor. The value
approach carries the risk that the market will not recognize a security's
intrinsic value for a long time, or that a stock considered to be undervalued
may actually be appropriately priced.

ISSUER-SPECIFIC CHANGES

The value of an individual security or particular type of security can be more
volatile than the market as a whole and can perform differently from the value
of the market as a whole. Lower-quality debt securities (those of less than
investment-grade quality) and certain other types of securities can be more
volatile due to increased sensitivity to adverse issuer, political, regulatory,
market, or economic developments and can be difficult to resell.

INVESTMENT STRATEGIES

A fund is permitted to use other securities and investment strategies in pursuit
of its investment objective, subject to limits established by the fund's Board
of Trustees. No fund is under any obligation to use any of the techniques or
strategies at any given time or under any particular economic condition. Certain
instruments and investment strategies may expose the funds to other risks and
considerations, which are discussed in the funds' SAI.

                                   APPENDIX A-4





                         Transamerica IDEX Mutual Funds
                            www.TransamericaIDEX.com
        Customer Service: 1-888-233-4339 o Sales Support: 1-800-851-7555
                    P.O. Box 9012, Clearwater, FL 33758-9012
             Distributor: AFSG Securities Corporation, Member NASD


      Shareholder inquiries and transaction requests should be mailed to:
                         Transamerica IDEX Mutual Funds
                                P.O. Box 219945
                           Kansas City, MO 64121-9945


ADDITIONAL INFORMATION about these funds is contained in the Statement of
Additional Information, dated August 1, 2006, and in the annual and semi-annual
reports to shareholders, which are incorporated by reference into this
prospectus. Other information about these funds has been filed with and is
available from the U.S. Securities and Exchange Commission. Information about
the funds (including the Statement of Additional Information) can be reviewed
and copied at the Securities and Exchange Commission's Public Reference Room in
Washington, D.C. Information on the operation of the public reference room may
be obtained by calling the Commission at 1-202-942-8090. Copies of this
information may be obtained, upon payment of a duplication fee, by electronic
request at the following e-mail address, publicinfo@sec.gov, or by writing to
the Public Reference Section of the Commission, Washington D.C. 20549-0102.
Reports and other information about the funds are also available on the
Commission's Internet site at http://www.sec.gov. To obtain a copy of the
Statement of Additional Information or the annual and semi-annual reports,
without charge, or to make other inquiries about these funds, call or write to
Transamerica IDEX Mutual Funds at the phone number or address above. In the
Transamerica IDEX annual report, you will find a discussion of the market
conditions and investment strategies that significantly affected the funds'
performance during the last fiscal year.

The Investment Company Act File Number for Transamerica IDEX Mutual Funds is
811-04556.






                         TRANSAMERICA IDEX MUTUAL FUNDS

                   TA IDEX OPPENHEIMER SMALL- & MID-CAP VALUE
                  TA IDEX BJURMAN, BARRY MICRO EMERGING GROWTH

                                 CLASS I SHARES

                       STATEMENT OF ADDITIONAL INFORMATION

                                 AUGUST 1, 2006

                         TRANSAMERICA IDEX MUTUAL FUNDS
                              570 Carillon Parkway
                          St. Petersburg, Florida 33716
                   Customer Service (888) 233-4339 (toll free)

TA IDEX Oppenheimer Small- & Mid-Cap Value and TA IDEX Bjurman, Barry Micro
Emerging Growth (each a "Fund", collectively, the "Funds") are a series of
Transamerica IDEX Mutual Funds ("Transamerica IDEX" or "TA IDEX"), an open-end
management investment company that offers a selection of investment funds.
Transamerica IDEX is registered under the Investment Company Act of 1940, as
amended (the "1940 Act"). The Funds are diversified.

This Statement of Additional Information ("SAI") is not a prospectus, and should
be read in conjunction with the Transamerica IDEX prospectus dated August 1,
2006, as it may be supplemented from time to time, which may be obtained free of
charge by writing or calling Transamerica IDEX at the above address or telephone
number. This SAI contains additional and more detailed information about
Transamerica IDEX operations and activities than that set forth in the
prospectus. The Transamerica IDEX Annual Report to shareholders for the Funds,
when available, including the financial statements therein, will be incorporated
by reference in the SAI.



                                TABLE OF CONTENTS



                                                                            PAGE
                                                                            ----
                                                                         
INVESTMENT OBJECTIVES.....................................................
   INVESTMENT RESTRICTIONS, POLICIES AND PRACTICES........................
OTHER POLICIES AND PRACTICES OF THE FUNDS.................................
   FOREIGN INVESTMENTS....................................................
      Emerging Markets....................................................
   WHEN-ISSUED, DELAYED SETTLEMENT AND FORWARD DELIVERY SECURITIES........
   INCOME PRODUCING SECURITIES............................................
   LENDING OF FUND SECURITIES.............................................
   ILLIQUID AND RESTRICTED/144A SECURITIES................................
   MUNICIPAL OBLIGATIONS..................................................
      Municipal Bonds.....................................................
      Municipal Notes.....................................................
      Municipal Commercial Paper..........................................
      Variable Rate Obligations...........................................
      Municipal Lease Obligations.........................................
   EQUITY EQUIVALENTS.....................................................
   EVENT-LINKED BONDS.....................................................
   COLLATERALIZED DEBT OBLIGATIONS........................................
   REPURCHASE AND REVERSE REPURCHASE AGREEMENTS...........................
   PASS-THROUGH SECURITIES................................................
   HIGH YIELD/HIGH-RISK SECURITIES........................................
      Valuation risks.....................................................
      Liquidity risks.....................................................
   U.S. GOVERNMENT SECURITIES.............................................
   TEMPORARY DEFENSIVE POSITION...........................................
   OTHER SECURITIES IN WHICH THE FUND MAY INVEST..........................
      Corporate Debt Securities...........................................
      Commercial Paper....................................................
      International Agency Obligations....................................
      Bank Obligations or Savings and Loan Obligations....................
      Variable or Floating Rate Securities................................
      Preferred Stocks....................................................
      Convertible Securities..............................................



                                       -i-



                                TABLE OF CONTENTS
                                   (continued)



                                                                            PAGE
                                                                            ----
                                                                         
      Common Stocks.......................................................
   PORTFOLIO TURNOVER RATE................................................
   DISCLOSURE OF PORTFOLIO HOLDINGS.......................................
INVESTMENT ADVISORY AND OTHER SERVICES....................................
   Investment Adviser Compensation........................................
   Advisory Agreement.....................................................
   Expense Reimbursement..................................................
   Information About the Funds' Portfolio Managers........................
DISTRIBUTOR...............................................................
ADMINISTRATIVE SERVICES...................................................
CUSTODIAN, TRANSFER AGENT AND OTHER AFFILIATES............................
FUND TRANSACTIONS AND BROKERAGE...........................................
TRUSTEES AND OFFICERS.....................................................
SHAREHOLDER COMMUNICATION PROCEDURES WITH BOARD OF TRUSTEES...............
NET ASSET VALUE DETERMINATION.............................................
   When Share Price is Determined.........................................
   How NAV is Determined..................................................
DIVIDENDS AND OTHER DISTRIBUTIONS.........................................
REDEMPTION OF SHARES......................................................
TAXES.....................................................................
PRINCIPAL SHAREHOLDERS....................................................
MISCELLANEOUS.............................................................
   ORGANIZATION...........................................................
   SHARES OF BENEFICIAL INTEREST..........................................
   INDEPENDENT REGISTERED CERTIFIED PUBLIC ACCOUNTING FIRM................
   CODES OF ETHICS........................................................
   PROXY VOTING POLICIES AND PROCEDURES...................................
PERFORMANCE INFORMATION...................................................
   Average Annual Total Return Quotation..................................
   Average Annual Total Return (After Taxes on Distributions) Quotation...
   Average Annual Total Return (After Taxes on Distributions and
      Redemption) Quotation...............................................
FINANCIAL STATEMENTS......................................................
APPENDIX A................................................................   A-1
APPENDIX B................................................................   B-1



                                      -ii-


                              INVESTMENT OBJECTIVES

The prospectus discusses the investment objectives of TA IDEX Oppenheimer Small-
& Mid-Cap Value and TA IDEX Bjurman, Barry Micro Emerging Growth (each a "Fund,"
collectively the "Funds"), the principal investment strategies and risks of each
Fund, and the policies and practices of the Funds. The following discussion of
Investment Restrictions, Policies and Practices supplements that set forth in
the prospectus.

There can be no assurance that a fund will, in fact, achieve its objectives. A
Funds' investment objective may be changed by the Board of Trustees without
shareholder approval. A change in the investment objective of a fund may result
in the fund having an investment objective different from that which the
shareholder deemed appropriate at the time of investment.

INVESTMENT RESTRICTIONS, POLICIES AND PRACTICES

As indicated in the prospectus, each fund is subject to certain fundamental
policies and restrictions which as such may not be changed without shareholder
approval. Shareholder approval would be the approval by the lesser of (i) more
than 50% of the outstanding voting securities of the fund, or (ii) 67% or more
of the voting securities present at a meeting if the holders of more than 50% of
the outstanding voting securities of the fund are present or represented by
proxy. The Funds have adopted the following fundamental restrictions:

1. DIVERSIFICATION

Each fund shall be a "diversified company" as that term is defined in the
Investment Company Act of 1940, as amended ("1940 Act"), and as interpreted or
modified by regulatory authority having jurisdiction, from time to time.

2. BORROWING

Each fund may not borrow money, except as permitted under the 1940 Act, and as
interpreted, modified or otherwise permitted by regulatory authority having
jurisdiction, from time to time.

3. SENIOR SECURITIES

Each fund may not issue any senior security, except as permitted under the 1940
Act, and as interpreted, modified or otherwise permitted by regulatory authority
having jurisdiction, from time to time.

4. UNDERWRITING SECURITIES

Each fund may not act as an underwriter of securities within the meaning of the
Securities Act of 1933, as amended ("1933 Act"), except as permitted under the
1933 Act, and as interpreted, modified or otherwise permitted by regulatory
authority having jurisdiction, from time to time. Among other things, to the
extent that the fund may be deemed to be an underwriter within the meaning of
the 1933 Act, each fund may act as an underwriter of securities in connection
with the purchase and sale of its portfolio securities in the ordinary course of
pursuing its investment objective, investment policies and investment program.

5. REAL ESTATE

Each fund may not purchase or sell real estate or any interests therein, except
as permitted under the 1940 Act, and as interpreted, modified or otherwise
permitted by regulatory authority having jurisdiction, from time to time.
Notwithstanding this limitation, each fund may, among other things, (i) acquire
or lease office space for its own use; (ii) invest in securities of issuers that
invest in real estate or interests therein; (iii) invest in mortgage-related
securities and other securities that are secured by real estate or interests
therein; or (iv) hold and sell real estate acquired by the fund as a result of
the ownership of securities.

6. MAKING LOANS

Each fund may not make loans except as permitted under the 1940 Act, and as
interpreted, modified or otherwise permitted by regulatory authority having
jurisdiction, from time to time.


                                        1



7. CONCENTRATION OF INVESTMENTS

Each fund may not "concentrate" its investments in a particular industry or
group of industries, except as permitted under the 1940 Act, and as interpreted,
modified or otherwise permitted by regulatory authority having jurisdiction from
time to time, provided that, without limiting the generality of the foregoing
this limitation will not apply to securities issued or guaranteed as to
principal and/or interest by the U.S. Government, its agencies or
instrumentalities.

8. COMMODITIES

Each fund may not purchase physical commodities or contracts relating to
physical commodities, except as permitted under the 1940 Act, and as
interpreted, modified or otherwise permitted by regulatory authority having
jurisdiction, from time to time.

NON-FUNDAMENTAL RESTRICTIONS

Furthermore, each fund has adopted certain of the following non-fundamental
restrictions, which may be changed by the Transamerica IDEX Board of Trustees
without shareholder approval.

(A) EXERCISING CONTROL OR MANAGEMENT

Each fund may not invest in companies for the purposes of exercising control or
management.

(B) PURCHASING SECURITIES ON MARGIN

Each fund may not purchase securities on margin, except to obtain such
short-term credits as are necessary for the clearance of transactions in
options, futures contracts, swaps and forward contracts and other derivative
instruments, and provided that margin payments and other deposits made in
connection with transactions in options, futures contracts, swaps and forward
contracts and other derivative instruments shall not constitute purchasing
securities on margin.

(C) ILLIQUID SECURITIES

Each fund may not purchase any security if, as a result, more than 15% of its
net assets would be invested in illiquid securities.

(D) SHORT SALES

Each fund may not sell securities short, except short sales "against the box." A
short sale against the box of a stock is where the seller actually owns the
stock, but does not want to close out the position.

(E) OIL, GAS OR MINERAL DEPOSITS

Each fund may not invest in interests in oil, gas or other mineral development
or exploration programs although it may invest in the marketable securities of
companies that invest in or sponsor such programs.

(F) MORTGAGE OR PLEDGE SECURITIES

Each fund may not mortgage or pledge any securities owned or held by the fund in
amounts that exceed, in the aggregate, 15% of the Funds' net assets, provided
that this limitation does not apply to reverse repurchase agreements or in the
case of assets deposited to provide margin or guarantee positions in options,
futures contracts, swaps, forward contracts or other derivative instruments or
the segregation of assets in connection with such transactions.

(G) INVESTMENT IN OTHER INVESTMENT COMPANIES

Each fund may not purchase securities of other investment companies, other than
a security acquired in connection with a merger, consolidation, acquisition,
reorganization or offer of exchange and except as permitted under the 1940 Act.

(H) FUTURES CONTRACTS

Each fund may not purchase or sell interest rate futures contracts (a) involving
aggregate delivery or purchase obligations in excess of 30% of the Funds' net
assets, or aggregate margin deposits made by the fund in excess of 5% of the
Funds'


                                        2



net assets; (b) which are not for hedging purposes only; or (c) which are
executed under custodial, reserve and other arrangements inconsistent with
regulations and policies adopted or positions taken (i) by the Securities and
Exchange Commission ("SEC") for exemption from enforcement proceedings under
Section 17(f) or 18(f) of the 1940 Act; (ii) by the Commodity Futures Trading
Commission ("CFTC") for exemption of investment companies registered under the
1940 Act from registration as "commodity pool operators" and from certain
provisions of Subpart B of Part 4 of the CFTC's regulations; or (iii) by state
securities commissioners or administrators in the states in which the Funds'
shares have been qualified for public offering.

(I) FOREIGN ISSUERS

Each fund may not invest more than 25% of their net assets at the time of
purchase in the securities of foreign issuers and obligors.

                    OTHER POLICIES AND PRACTICES OF THE FUNDS

FOREIGN INVESTMENTS

A fund may invest in foreign securities through the purchase of securities of
foreign issuers or of American Depositary Receipts ("ADRs"). Because foreign
companies are not subject to uniform accounting, auditing and financial
reporting standards, practices and requirements comparable to those applicable
to U.S. companies, there may be less publicly available information about a
foreign company than about a U.S. company. Volume and liquidity in most foreign
markets are less than in the U.S., and securities of many foreign companies are
less liquid and more volatile than securities of comparable U.S. companies.
Fixed commissions on foreign securities exchanges are generally higher than
negotiated commissions on U.S. exchanges, although a fund will endeavor to
achieve the most favorable net results on portfolio transactions. There is
generally less government supervision and regulation of securities exchanges,
brokers, dealers and listed companies than in the U.S., thus increasing the risk
of delayed settlements of portfolio transactions or loss of certificates for
portfolio securities.

Foreign markets also have different clearance and settlement procedures, and in
certain markets, there have been times when settlements have been unable to keep
pace with the volume of securities transactions, making it difficult to conduct
such transactions. Such delays in settlement could result in temporary periods
when a portion of the assets of a fund investing in foreign markets is
uninvested and no return is earned thereon. The inability of a fund to make
intended security purchases due to settlement problems could cause the fund to
miss attractive investment opportunities. Losses to a fund due to subsequent
declines in the value of portfolio securities, or losses arising out of an
inability to fulfill a contract to sell such securities, could result in
potential liability to the fund. In addition, with respect to certain foreign
countries, there is the possibility of expropriation or confiscatory taxation,
political or social instability, or diplomatic developments which could affect
the investments in those countries. Moreover, individual foreign economies may
differ favorably or unfavorably from the U.S. economy in such respects as growth
of gross national product, rate of inflation, capital reinvestment, resource
self-sufficiency and balance of payments position.

In many instances, foreign debt securities may provide higher yields than
securities of domestic issuers which have similar maturities and quality. Under
certain market conditions these investments may be less liquid than the
securities of U.S. corporations and are certainly less liquid than securities
issued or guaranteed by the U.S. Government or its agencies or
instrumentalities. Finally, in the event of a default of any such foreign debt
obligations, it may be more difficult to obtain or to enforce a judgment against
the issuers of such securities.

If a security is denominated in foreign currency, the value of the security to a
fund will be affected by changes in currency exchange rates and in exchange
control regulations, and costs will be incurred in connection with conversions
between currencies. Currency risks generally increase in lesser developed
markets. Exchange rate movements can be large and can endure for extended
periods of time, affecting either favorably or unfavorably the value of the
Funds' assets. The value of the assets of the fund as measured in U.S. dollars
may be affected favorably or unfavorably by changes in foreign currency exchange
rates and exchange control regulations.

A change in the value of any foreign currency against the U.S. dollar will
result in a corresponding change in the U.S. dollar value of securities
denominated in that currency. Such changes will also affect the income and
distributions to shareholders of a fund investing in foreign markets. In
addition, although a fund will receive income on foreign securities in such
currencies, it will be required to compute and distribute income in U.S.
dollars. Therefore, if the exchange rate for any such currency declines
materially after income has been accrued and translated into U.S. dollars, a
fund could be required to liquidate portfolio securities to make required
distributions. Similarly, if an exchange rate declines between the


                                        3



time a fund incurs expenses in U.S. dollars and the time such expenses are paid,
the amount of such currency required to be converted into U.S. dollars in order
to pay such expenses in U.S. dollars will be greater.

ADRs, which are traded in the United States on exchanges or over-the-counter,
are issued by domestic banks. ADRs represent the right to receive securities of
foreign issuers deposited in a domestic bank or a correspondent bank. ADRs do
not eliminate all the risk inherent in investing in the securities of foreign
issuers' stock. However, by investing in ADRs rather than directly in foreign
issuers' stock, a fund can avoid currency risks during the settlement period for
either purchase or sales.

In general, there is a large, liquid market in the United States for many ADRs.
The information available for ADRs is subject to the accounting, auditing and
financial reporting standards of the domestic market or exchange on which they
are traded, which standards are more uniform and more exacting than those to
which many foreign issuers may be subject. Certain ADRs, typically those
denominated as unsponsored, require the holders thereof to bear most of the
costs of such facilities, while issuers of sponsored facilities normally pay
more of the costs thereof. The depositary of an unsponsored facility frequently
is under no obligation to distribute shareholder communications received from
the issuer of the deposited securities or to pass through the voting rights to
facility holders with respect to the deposited securities, whereas the
depositary of a sponsored facility typically distributes shareholder
communications and passes through the voting rights.

EMERGING MARKETS. Securities traded in certain emerging market countries,
including the emerging market countries in Eastern Europe, may be subject to
risks in addition to risks typically posed by foreign investing due to the
inexperience of financial intermediaries, the lack of modern technology, and the
lack of a sufficient capital base to expand business operations. Additionally,
former Communist regimes of a number of Eastern European countries previously
expropriated a large amount of property, the claims on which have not been
entirely settled. There can be no assurance that a Funds' investments in Eastern
Europe will not also be expropriated, nationalized or otherwise confiscated.

WHEN-ISSUED, DELAYED SETTLEMENT AND FORWARD DELIVERY SECURITIES

Securities may be purchased and sold on a "when-issued," "delayed settlement,"
or "forward (delayed) delivery" basis. "When-issued" or "forward delivery"
refers to securities whose terms are available, and for which a market exists,
but which are not available for immediate delivery. When-issued or forward
delivery transactions may be expected to occur a month or more before delivery
is due. A fund may engage in when-issued transactions to obtain what is
considered to be an advantageous price and yield at the time of the transaction.
When a fund engages in when-issued or forward delivery transactions, it will do
so consistent with its investment objective and policies and not for the purpose
of investment leverage.

"Delayed settlement" is a term used to describe settlement of a securities
transaction in the secondary market which will occur sometime in the future. No
payment or delivery is made by a fund until it receives payment or delivery from
the other party for any of the above transactions. A fund will segregate with
its custodian cash, U.S. government securities or other liquid assets at least
equal to the value or purchase commitments until payment is made. The segregated
securities will either mature or, if necessary, be sold on or before the
settlement date. Typically, no income accrues on securities purchased on a
delayed delivery basis prior to the time delivery of the securities is made,
although a fund may earn income on securities it has segregated to collateralize
its delayed delivery purchases.

New issues of stocks and bonds, private placements and U.S. government
securities may be sold in this manner. At the time of settlement, the market
value of the security may be more or less than the purchase price. A fund bears
the risk of such market value fluctuations. These transactions also involve the
risk that the other party to the transaction may default on its obligation to
make payment or delivery. As a result, a fund may be delayed or prevented from
completing the transaction and may incur additional costs as a consequence of
the delay.

INCOME PRODUCING SECURITIES

Unless as otherwise disclosed, a fund generally will purchase defaulted
securities only when the respective sub-advisers believe, based upon analysis of
the financial condition, results of operations and economic outlook of an
issuer, that there is potential for resumption of income payments and that the
securities offer an unusual opportunity for capital appreciation.
Notwithstanding the sub-adviser's belief as to the resumption of income
payments, however, the purchase of any security on which payment of interest or
dividends is suspended involves a high degree of risk. Such risk includes, among
other things, the following:


                                       4



     Financial and Market Risks. Investments in securities that are in default
     involve a high degree of financial and market risks that can result in
     substantial, or at times even total, losses. Issuers of defaulted
     securities may have substantial capital needs and may become involved in
     bankruptcy or reorganization proceedings. Among the problems involved in
     investments in such issuers is the fact that it may be difficult to obtain
     information about the condition of such issuers. The market prices of such
     securities also are subject to abrupt and erratic movements and above
     average price volatility, and the spread between the bid and asked prices
     of such securities may be greater than normally expected.

     Disposition of Fund Securities. A fund generally intends to purchase
     securities for which the sub-adviser expects an active market to be
     maintained, defaulted securities may be less actively traded than other
     securities making it more difficult to dispose of substantial holdings of
     such securities at prevailing market prices. A fund will limit holdings of
     any such securities to amounts that the sub-adviser believes could be
     readily sold, and its holdings of such securities would, in any event, be
     limited so as not to limit the Funds' ability to readily dispose of
     securities to meet redemptions.

     Other. Defaulted securities require active monitoring and may, at times,
     require participation in bankruptcy or receivership proceedings on behalf
     of the fund.

Other types of income producing securities that a fund may purchase include, but
are not limited to, the following:

     Variable and Floating Rate Obligations. These types of securities are
     relatively long-term instruments that often carry demand features
     permitting the holder to demand payment of principal at any time or at
     specified intervals prior to maturity.

     Standby Commitments. These instruments, which are similar to a put, give a
     fund the option to obligate a broker, dealer or bank to repurchase a
     security held by the fund at a specified price.

     Tender Option Bonds. Tender option bonds are relatively long-term bonds
     that are coupled with the agreement of a third party (such as a broker,
     dealer or bank) to grant the holders of such securities the option to
     tender the securities to the institution at periodic intervals.

     Inverse Floaters. Inverse floaters are instruments whose interest bears an
     inverse relationship to the interest rate on another security.

A fund will purchase instruments with demand features, standby commitments and
tender option bonds primarily for the purpose of increasing the liquidity of
their portfolios.

These investments are subject to credit risk and market risk. Credit risk
relates to the party's ability to make payment upon demand; market risk relates
to the fact that the value of the security will be impacted by the rise and fall
of interest rates.

LENDING OF FUND SECURITIES

A fund, from time to time e, may lend portfolio securities to broker-dealers,
banks or institutional borrowers of securities. In accordance with guidelines
from the SEC and its staff, a fund must receive at least 100% collateral, in the
form of cash or U.S. Government s securities. This collateral must be valued
daily, and should the market value of the loaned securities increase, the
borrower must furnish additional collateral to the lender. During the time
portfolio securities are on loan, the borrower pays the lender dividends or
interest paid on such securities. Loans are subject to termination by the lender
or the borrower at any time. While a fund does not have the right to vote
securities on loan, each intends to regain the right to vote if that is
considered important with respect to the investment. In the event the borrower
defaults on its obligation to a fund, it could experience delays in recovering
its securities and possible capital losses. A fund will only enter into loan
arrangements with broker-dealers, banks or other institutions determined to be
creditworthy under guidelines that may be established by the Board of Trustees.

ILLIQUID AND RESTRICTED/144A SECURITIES

Subject to its investment restrictions, a fund may invest a certain percentage
of its net assets in illiquid securities (i.e., securities that are not readily
marketable).


                                        5



In recent years, a large institutional market has developed for certain
securities that are not registered under the 1933 Act. Institutional investors
generally will not seek to sell these instruments to the general public, but
instead will often depend on an efficient institutional market in which such
unregistered securities can readily be resold or on an issuer's ability to honor
a demand for repayment. Therefore, the fact that there are contractual or legal
restrictions on resale to the general public or certain institutions is not
dispositive of the liquidity of such investments.

Rule 144A under the 1933 Act established a "safe harbor" from the registration
requirements of the 1933 Act for resales of certain securities to qualified
institutional buyers. Institutional markets for restricted securities that might
develop as a result of Rule 144A could provide both readily ascertainable values
for restricted securities and the ability to liquidate an investment in order to
satisfy share redemption orders. An insufficient number of qualified
institutional buyers interested in purchasing a Rule 144A-eligible security held
by a portfolio could, however, adversely affect the marketability of such
portfolio security and the portfolio might be unable to dispose of such security
promptly or at reasonable prices.

TA IDEX's Board of Trustees has authorized the sub-advisers of the funds to make
liquidity determinations with respect to Rule 144A securities in accordance with
the guidelines established by the Board of Trustees. Under the guidelines which
may be amended from time to time, a Funds' sub-adviser generally will consider
several factors in determining whether a Rule 144A security is liquid, such as:
1) the frequency of trades and quoted prices for the security; 2) the number of
dealers willing to purchase or sell the security and the number of other
potential purchasers; 3) the willingness of dealers to undertake to make a
market in the security; and 4) the nature of the marketplace trades, including
the time needed to dispose of the security, the method of soliciting offers and
the mechanics of the transfer and/or other factors deemed appropriate. The sale
of illiquid securities often requires more time and results in higher brokerage
charges or dealer discounts and other selling expenses than does the sale of
securities eligible for trading on national securities exchanges or in the OTC
markets. A fund may be restricted in its ability to sell such securities at a
time when the Funds' sub-adviser deems it advisable to do so. In addition, in
order to meet redemption requests, a fund may have to sell other assets, rather
than such illiquid securities, at a time that is not advantageous.

MUNICIPAL OBLIGATIONS

A fund may invest in the following types of municipal obligations:

MUNICIPAL BONDS. Municipal bonds generally are classified as general obligation
or revenue bonds. General obligation bonds are secured by the issuer's pledge of
its full faith, credit and unlimited taxing power for the payment of principal
and interest. Revenue bonds are payable only from the revenues generated by a
particular facility or class of facility, or in some cases from the proceeds of
a special excise tax or specific revenue source. Industrial development
obligations are a particular kind of municipal bond which are issued by or on
behalf of public authorities to obtain funds for many kinds of local, privately
operated facilities. Such obligations are, in most cases, revenue bonds that
generally are secured by a lease with a particular private corporation.

MUNICIPAL NOTES. Municipal notes are short-term debt obligations issued by
municipalities which normally have a maturity at the time of issuance of six
months to three years. Such notes include tax anticipation notes, bond
anticipation notes, revenue anticipation notes and project notes. Notes sold in
anticipation of collection of taxes, a bond sale or receipt of other revenues
are normally obligations of the issuing municipality or agency.

MUNICIPAL COMMERCIAL PAPER. Municipal commercial paper is short-term debt
obligations issued by municipalities. Although done so infrequently, municipal
commercial paper may be issued at a discount (sometimes referred to as
Short-Term Discount Notes). These obligations are issued to meet seasonal
working capital needs of a municipality or interim construction financing and
are paid from a municipality's general revenues or refinanced with long-term
debt. Although the availability of municipal commercial paper has been limited,
from time to time the amounts of such debt obligations offered have increased,
and the sub-adviser believes that this increase may continue.

VARIABLE RATE OBLIGATIONS. The interest rate payable on a variable rate
municipal obligation is adjusted either at predetermined periodic intervals or
whenever there is a change in the market rate of interest upon which the
interest rate payable is based. A variable rate obligation may include a demand
feature pursuant to which a fund would have the right to demand prepayment of
the principal amount of the obligation prior to its stated maturity. The issuer
of the variable rate obligation may retain the right to prepay the principal
amount prior to maturity.

MUNICIPAL LEASE OBLIGATIONS. Municipal lease obligations may take the form of a
lease, an installment purchase or a conditional sales contract. Municipal lease
obligations are issued by state and local governments and authorities to acquire
land, equipment and facilities such as state and municipal vehicles,
telecommunications and computer equipment,


                                        6



and other capital assets. Interest payments on qualifying municipal leases are
exempt from federal income taxes. A fund may purchase these obligations
directly, or they may purchase participation interests in such obligations.
Municipal leases are generally subject to greater risks than general obligation
or revenue bonds. State laws set forth requirements that states or
municipalities must meet in order to issue municipal obligations, and such
obligations may contain a covenant by the issuer to budget for, appropriate, and
make payments due under the obligation. However, certain municipal lease
obligations may contain "non-appropriation" clauses which provide that the
issuer is not obligated to make payments on the obligation in future years
unless a fund has been appropriated for this purpose each year. Accordingly,
such obligations are subject to "non-appropriation" risk. While municipal leases
are secured by the underlying capital asset, it may be difficult to dispose of
such assets in the event of non-appropriation or other default.

EQUITY EQUIVALENTS

In addition to investing in common stocks, a fund may invest in other equity
securities and equity equivalents, including securities that permit the fund to
receive an equity interest in an issuer, the opportunity to acquire an equity
interest in an issuer, or the opportunity to receive a return on its investment
that permits the fund to benefit from the growth over time in the equity of an
issuer. Examples of equity securities and equity equivalents include preferred
stock, convertible preferred stock and convertible debt securities.

A fund will limit its holdings of convertible debt securities to those that, at
the time of purchase, are rated at least B- by S&P or B3 by Moody's, or, if not
rated by S&P or Moody's, are of equivalent investment quality as determined by
the sub-adviser. Debt securities rated below the four highest categories are not
considered "investment-grade" obligations. These securities have speculative
characteristics and present more credit risk than investment-grade obligations.
Equity equivalents also may include securities whose value or return is derived
from the value or return of a different security. Depositary receipts, are an
example of the type of derivative security in which a fund might invest.

EVENT-LINKED BONDS

A fund may invest in "event-linked bonds," which are fixed income securities for
which the return of principal and payment of interest is contingent on the
non-occurrence of a specific "trigger" event, such as a hurricane, earthquake,
or other physical or weather-related phenomenon. Some event-linked bonds are
commonly referred to as "catastrophe bonds." If a trigger event occurs, the
portfolio may lose a portion or all of its principal invested in the bond.
Event-linked bonds often provide for an extension of maturity to process and
audit loss claims where a trigger event has, or possibly has, occurred. An
extension of maturity may increase volatility. Event-linked bonds may also
expose a fund to certain unanticipated risks including credit risk, adverse
regulatory or jurisdictional interpretations, and adverse tax consequences.
Event-linked bonds may also be subject to liquidity risk.

COLLATERALIZED DEBT OBLIGATIONS

A fund may invest in collateralized debt obligations ("CDOs"), which includes
collateralized bond obligations ("CBOs"), collateralized loan obligations
("CLOs") and other similarly structured securities. CBOs and CLOs are types of
asset-backed securities. A CBO is a trust which is backed by a diversified pool
of high risk, below investment grade fixed income securities. A CLO is a trust
typically collateralized by a pool of loans, which may include, among others,
domestic and foreign senior secured loans, senior unsecured loans, and
subordinate corporate loans, including loans that may be rated below investment
grade or equivalent unrated loans.

For both CBOs and CLOs, the cashflows from the trust are split into two or more
portions, called tranches, varying in risk and yield. The riskiest portion is
the "equity" tranche which bears the bulk of defaults from the bonds or loans in
the trust and serves to protect the other, more senior tranches from default in
all but the most severe circumstances. Since it is partially protected from
defaults, a senior tranche from a CBO trust or CLO trust typically have higher
ratings and lower yields than their underlying securities, and can be rated
investment grade. Despite the protection from the equity tranche, CBO or CLO
tranches can experience substantial losses due to actual defaults, increased
sensitivity to defaults due to collateral default and disappearance of
protecting tranches, market anticipation of defaults, as well as aversion to CBO
or CLO securities as a class.

The risks of an investment in a CDO depend largely on the type of the collateral
securities and the class of the CDO in which a fund invests. Normally, CBOs,
CLOs and other CDOs are privately offered and sold, and thus, are not registered
under the securities laws. As a result, investments in CDOs may be characterized
by a fund as illiquid securities, however an active dealer market may exist for
CDOs allowing a CDO to qualify for Rule 144A transactions. In addition to the
normal risks associated with fixed income securities (e.g., interest rate risk
and default risk), CDOs carry additional risks


                                        7



including, but are not limited to: (i) the possibility that distributions from
collateral securities will not be adequate to make interest or other payments;
(ii) the quality of the collateral may decline in value or default; (iii) a fund
may invest in CDOs that are subordinate to other classes; and (iv) the complex
structure of the security may not be fully understood at the time of investment
and may produce disputes with the issuer or unexpected investment results.

REPURCHASE AND REVERSE REPURCHASE AGREEMENTS

Subject to its investment restrictions, a fund may enter into repurchase and
reverse repurchase agreements. In a repurchase agreement, a fund purchases a
security and simultaneously commits to resell that security to the seller at an
agreed upon price on an agreed upon date within a number of days (usually not
more than seven) from the date of purchase. The resale price reflects the
purchase price plus an agreed upon incremental amount which is unrelated to the
coupon rate or maturity of the purchased security. A repurchase agreement
involves the obligation of the seller to pay the agreed upon price, which
obligation is in effect secured by the value (at least equal to the amount of
the agreed upon resale price and marked-to-market daily) of the underlying
security or collateral. A fund may engage in a repurchase agreement with respect
to any security in which it is authorized to invest.

In a reverse repurchase agreement, a fund sells a portfolio instrument to
another party, such as a bank or broker-dealer, in return for cash and agrees to
repurchase the instrument at a particular price and time. While a reverse
repurchase agreement is outstanding, a fund will segregate with its custodian
cash and appropriate liquid assets to cover its obligation under the agreement.
A fund will enter into reverse repurchase agreements only with parties the
investment sub-adviser for the fund deems creditworthy.

Repurchase agreements involve the risk that the seller will fail to repurchase
the security, as agreed. In that case, a fund will bear the risk of market value
fluctuations until the security can be sold and may encounter delays and incur
costs in liquidating the security. In the event of bankruptcy or insolvency of
the seller, delays and costs are incurred.

Reverse repurchase agreements may expose a fund to greater fluctuations in the
value of its assets.

PASS-THROUGH SECURITIES

A fund may, in varying degrees, invest in various types of pass-through
securities, such as mortgage-backed securities, asset-backed securities and
participation interests, which are fully discussed in this SAI. A pass-through
security is a share or certificate of interest in a pool of debt obligations
that has been repackaged by an intermediary, such as a bank or broker-dealer.
The purchaser receives an undivided interest in the underlying pool of
securities. The issuers of the underlying securities make interest and principal
payments to the intermediary which are passed through to purchasers, such as a
fund.

HIGH YIELD/HIGH-RISK SECURITIES

High-yield/high-risk securities (commonly known as "junk bonds") are below
investment grade securities that involve significant credit and liquidity
concerns and fluctuating yields, and are not suitable for short-term investing.
Higher yields are ordinarily available on fixed-income securities which are
unrated or are rated in the lower rating categories of recognized rating
services such as Moody's and Standard & Poor's.

VALUATION RISKS. Lower rated bonds also involve the risk that the issuer will
not make interest or principal payments when due. In the event of an
unanticipated default, a fund owning such bonds would experience a reduction in
its income, and could expect a decline in the market value of the securities so
affected. A fund, furthermore, may incur additional costs in seeking the
recovery of the defaulted securities. More careful analysis of the financial
condition of each issuer of lower rated securities is therefore necessary.
During an economic downturn or substantial period of rising interest rates,
highly leveraged issuers may experience financial stress which would adversely
affect their ability to service their principal and interest payments
obligations, to meet projected business goals and to obtain additional
financing.

The market prices of lower grade securities are generally less sensitive to
interest rate changes than higher rated investments, but more sensitive to
adverse economic or political changes or individual developments specific to the
issuer. Periods of economic or political uncertainty and change can be expected
to result in volatility of prices of these securities. Past experience with
high-yield securities in a prolonged economic downturn may not provide an
accurate indication of future performance during such periods.


                                        8



LIQUIDITY RISKS. Lower rated securities also may have less liquid markets than
higher rated securities, and their liquidity as well as their value may be more
severely affected by adverse economic conditions. Adverse publicity and investor
perceptions as well as new or proposed laws may also have a greater negative
impact on the market for lower rated bonds.

Unrated securities are not necessarily of lower quality than rated securities,
but the markets for lower rated and nonrated securities are more limited than
those in which higher rated securities are traded. In addition, an economic
downturn or increase in interest rates is likely to have a greater negative
effect on: (i) the market for lower rated and nonrated securities; (ii) the
value of high yield debt securities held by a fund; (iii) the new asset value of
the fund holding such securities; and (iv) the ability of the bonds' issuers to
repay principal and interest, meet projected business goals and obtain
additional financing than on higher rated securities.

U.S. GOVERNMENT SECURITIES

Examples of the types of U.S. government securities that a fund may hold
include, in addition to those described in the prospectus, are direct
obligations of the U.S. Treasury, the obligations of the Federal Housing
Administration, Farmers Home Administration, Small Business Administration,
General Services Administration, Central Bank for Cooperatives, Federal Farm
Credit Banks, Federal Home Loan Bank, Federal Intermediate Credit Banks, Federal
Land Banks and Maritime Administration. U.S. government securities may be
supported by the full faith and credit of the U.S. government (such as
securities of the Small Business Administration); by the right of the issuer to
borrow from the Treasury (such as securities of the Federal Home Loan Bank); by
the discretionary authority of the U.S. government to purchase the agency's
obligations (such as securities of the Federal National Mortgage Association);
or only by the credit of the issuing agency.

TEMPORARY DEFENSIVE POSITION

For temporary defensive purposes, the fund may, at times, choose to hold some or
all of its net assets in cash, or to invest that cash in a variety of debt
securities. This may be done as a defensive measure at times when desirable
risk/reward characteristics are not available in stocks or to earn income from
otherwise uninvested cash. When the fund increases its cash or debt investment
position, its income may increase while its ability to participate in stock
market advances or declines decreases. Furthermore, when a fund assumes a
temporary defensive position, it may not be able to achieve its investment
objective.

OTHER SECURITIES IN WHICH A FUND MAY INVEST

CORPORATE DEBT SECURITIES. A fund may invest in corporate bonds, notes and
debentures of long and short maturities and of various grades, including unrated
securities. Corporate debt securities exist in great variety, differing from one
another in quality, maturity, and call or other provisions. Lower grade bonds,
whether rated or unrated, usually offer higher interest income, but also carry
increased risk of default. Corporate bonds may be secured or unsecured, senior
to or subordinated to other debt of the issuer, and, occasionally, may be
guaranteed by another entity. In addition, they may carry other features, such
as those described under "Convertible Securities" and "Variable or Floating Rate
Securities," or have special features such as the right of the holder to shorten
or lengthen the maturity of a given debt instrument, rights to purchase
additional securities, rights to elect from among two or more currencies in
which to receive interest or principal payments, or provisions permitting the
holder to participate in earnings of the issuer or to participate in the value
of some specified commodity, financial index, or other measure of value.

COMMERCIAL PAPER. Commercial paper refers to short-term unsecured promissory
notes issued by commercial and industrial corporations to finance their current
operations. Commercial paper may be issued at a discount and redeemed at par, or
issued at par with interest added at maturity. The interest or discount rate
depends on general interest rates, the credit standing of the issuer, and the
maturity of the note, and generally moves in tandem with rates on large CDs and
Treasury bills. An established secondary market exists for commercial paper,
particularly that of stronger issuers which are rated by Moody's Investors
Service, Inc. and Standard and Poor's Ratings Group. Investments in commercial
paper are subject to the risks that general interest rates will rise, that the
credit standing and outside rating of the issuer will fall, or that the
secondary market in the issuer's notes will become too limited to permit their
liquidation at a reasonable price.

INTERNATIONAL AGENCY OBLIGATIONS. A fund may invest in bonds, notes or Eurobonds
of international agencies. Examples are securities issued by the Asian
Development Bank, the European Economic Community, and the European Investment
Bank. A fund may also purchase obligations of the International Bank for
Reconstruction and Development which, while


                                        9



technically not a U.S. government agency or instrumentality, has the right to
borrow from the participating countries, including the United States.

BANK OBLIGATIONS OR SAVINGS AND LOAN OBLIGATIONS. Subject to its investment
restrictions, a fund may purchase certificates of deposit, bankers' acceptances
and other debt obligations of commercial banks and certificates of deposit and
other debt obligations of savings and loan associations ("S&L's"). Certificates
of deposit are receipts from a bank or an S&L for funds deposited for a
specified period of time at a specified rate of return. Bankers' acceptances are
time drafts drawn on commercial banks by borrowers, usually in connection with
international commercial transactions. These instruments may be issued by
institutions of any size, may be of any maturity, and may be insured or
uninsured. The quality of bank or savings and loan obligations may be affected
by such factors as (a) location -- the strength of the local economy will often
affect financial institutions in the region, (b) asset mix -- institutions with
substantial loans in a troubled industry may be weakened by those loans, and (c)
amount of equity capital -- under-capitalized financial institutions are more
vulnerable when loan losses are suffered. The sub-adviser will evaluate these
and other factors affecting the quality of bank and savings and loan obligations
purchased by a fund, but the fund is not restricted to obligations or
institutions that satisfy specified quality criteria.

VARIABLE OR FLOATING RATE SECURITIES. Subject to its investment restrictions, a
fund may purchase variable rate securities that provide for automatic
establishment of a new interest rate at fixed intervals (e.g., daily, monthly,
semi-annually, etc.). Floating rate securities generally provide for automatic
adjustment of the interest rate whenever some specified interest rate index
changes. The interest rate on variable and floating rate securities is
ordinarily determined by reference to, or is a percentage of, a bank's prime
rate, the 90-day U.S. Treasury bill rate, the rate of return on commercial paper
or bank certificates of deposit, an index of short-term interest rates, or some
other objective measure. These securities generally are structured as loans.

PREFERRED STOCKS. Subject to its investment restrictions, a fund may purchase
preferred stocks. Preferred stocks are securities which represent an ownership
interest in a corporation and which give the owner a prior claim over common
stock on the corporation's earnings and assets. Preferred stock generally pays
quarterly dividends. Preferred stocks may differ in many of their provisions.
Among the features that differentiate preferred stocks from one another are the
dividend rights, which may be cumulative or non-cumulative and participating or
non-participating, redemption provisions, and voting rights. Such features will
establish the income return and may affect the prospects for capital
appreciation or risks of capital loss.

CONVERTIBLE SECURITIES. Subject to its investment restrictions, a fund may
invest in debt securities convertible into or exchangeable for equity
securities, or debt securities that carry with them the right to acquire equity
securities, as evidenced by warrants attached to such securities or acquired as
part of units of the securities. Such securities normally pay less current
income than securities without conversion features, but add the potential
opportunity for appreciation from enhanced value for the equity securities into
which they are convertible, and the concomitant risk of loss from declines in
those values.

COMMON STOCKS. Subject to its investment restrictions, a fund may invest in
common stocks. Common stocks are junior to the debt obligations and preferred
stocks of an issuer. Hence, dividend payments on common stocks should be
regarded as less secure than income payments on corporate debt securities.

PORTFOLIO TURNOVER RATE

Changes may be made in the portfolio of a fund consistent with its investment
objective and policies whenever such changes are believed to be in the best
interests of the fund and its shareholders, and the fund will be managed without
regard to its portfolio turnover rate. The portfolio turnover rates for an
underlying und may vary greatly from year to year as well as within a particular
year, and may be affected by cash requirements for redemptions of shares. High
portfolio turnover rates will generally result in higher transaction costs to a
fund, including brokerage commissions, and may have adverse tax consequences.

The portfolio turnover rate for a fund is calculated by dividing the lesser of
the Funds' purchases or sales of portfolio securities for the year by the
monthly average value of the securities. The SEC requires that the calculation
exclude all securities whose remaining maturities at the time of acquisition are
one year or less.


                                       10



DISCLOSURE OF PORTFOLIO HOLDINGS

It is the policy of the Funds to protect the confidentiality of its holdings and
prevent the selective disclosure of non-public information about its portfolio
holdings. The Funds' service providers are required to comply with this policy.
No non-public information concerning the portfolio holdings of the Funds may be
disclosed to any unaffiliated third party, except as provided below. The Board
of Trustees has adopted formal procedures governing compliance with the Funds'
policies.

The Funds, or their duly authorized service providers, may publicly disclose
holdings of the Funds in accordance with regulatory requirements, such as
periodic portfolio disclosure in filings with the SEC. A summary or list of the
Funds' completed purchases and sales may only be made available after the public
disclosure of the Funds' portfolio holdings.

The Funds will publish all portfolio holdings on a monthly basis on its website
at www.transamericaidex.com within two weeks after the end of each month. Such
information will generally remain online for up to four months or as otherwise
consistent with applicable regulations. The day following such publication, the
information is deemed to be publicly disclosed for the purposes of the policies
and procedures adopted by the Funds. The Funds may then forward the information
to investors and consultants requesting it. As the Funds have not yet commenced
operations, the Funds' portfolio holdings are not yet available.

There are numerous mutual fund evaluation services such as Standard & Poor's,
Morningstar or Lipper Analytical Services, and due diligence departments of
broker-dealers and wirehouses that regularly analyze the portfolio holdings of
mutual funds in order to monitor and report on various attributes including
style, capitalization, maturity, yield, beta, etc. These services and
departments then distribute the results of their analysis to the public, paid
subscribers and/or in-house brokers. In order to facilitate the review of the
funds by these services and departments, the Funds may distribute (or authorize
its service providers to distribute) portfolio holdings to such services and
departments before their public disclosure is required or authorized provided
that: (i) the recipient does not distribute the portfolio holdings or results of
the analysis to third parties, other departments or persons who are likely to
use the information for purposes of purchasing or selling the Funds before the
portfolio holdings or results of the analysis become public information; and
(ii) the recipient signs a written confidentiality agreement. Persons and
entities unwilling to execute an acceptable confidentiality agreement may only
receive portfolio holdings information that has otherwise been publicly
disclosed. Neither the Funds nor their service providers receive any
compensation from such services and departments. Subject to such departures as
the Funds' investment adviser's compliance department believes reasonable and
consistent with reasonably protecting the confidentiality of the portfolio
information, each confidentiality agreement should generally provide that, among
other things: the portfolio information is the confidential property of the
Funds (and its service provider, if applicable) and may not be shared or used
directly or indirectly for any purpose except as expressly provided in the
confidentiality agreement; the recipient of the portfolio information agrees to
limit access to the portfolio information to its employees (and agents) who, on
a need to know basis, are (1) authorized to have access to the portfolio
information and (2) subject to confidentiality obligations, including duties not
to trade on non-public information, no less restrictive than the confidentiality
obligations contained in the Confidentiality Agreement; and upon written
request, the recipient agrees to promptly return or destroy, as directed, the
portfolio information.

The Board and an appropriate officer of the investment adviser's compliance
department or the Funds' Chief Compliance Officer ("CCO") may, on a case-by-case
basis, impose additional restrictions on the dissemination of portfolio
information and waive certain requirements. To the extent required by law, the
CCO reports to the Board violations of the Funds' policies and procedures on
disclosure of portfolio holdings.

                     INVESTMENT ADVISORY AND OTHER SERVICES

Transamerica IDEX has entered into an Investment Advisory Agreement ("Advisory
Agreement") on behalf of each fund with Transamerica Fund Advisors, Inc.
("TFAI"), located at 570 Carillon Parkway, St. Petersburg, Florida 33716. TFAI
supervises each Funds' investments and conducts its investment program. TFAI
hires sub-advisers to furnish investment advice and recommendations and has
entered into sub-advisory agreements with each sub-adviser.

TFAI is directly owned by Western Reserve Life Assurance Co. of Ohio (77%)
("Western Reserve") and AUSA Holding Company (23%) ("AUSA"), both of which are
indirect wholly owned subsidiaries of AEGON N.V. AUSA is wholly owned by
Transamerica Holding Company, which is wholly owned by AEGON USA, Inc. ("AEGON
USA"), a financial services holding company whose primary emphasis is on life
and health insurance, and annuity and investment products. AEGON USA is a wholly
owned indirect subsidiary of AEGON N.V., a Netherlands corporation and publicly
traded international insurance group.


                                       11



INVESTMENT ADVISER COMPENSATION

TFAI receives compensation, calculated daily and paid monthly, from the Funds at
the following annual rate (expressed as a specified percentage of the Funds'
average daily net assets):



                    FUND                       PERCENTAGE OF AVERAGE DAILY NET ASSETS
                    ----                       --------------------------------------
                                            
TA IDEX Oppenheimer Small- & Mid-Cap Value     0.95% of the first $100 million; 0.90%
                                               over $100 million up to $250 million;
                                               0.85% over $250 million up to $500
                                               million; and 0.825 over $500 million

TA IDEX Bjurman, Barry Micro Emerging Growth   1.05% of the first $250 million; 1.00%
                                               over $250 million up to $500 million;
                                               and 0.975% over $500 million


ADVISORY AGREEMENT

For each Fund, the duties and responsibilities of the Investment Adviser are
specified in the Advisory Agreement. The Advisory Agreement provides that TFAI
will perform the following services or cause them to be performed by others: (i)
furnish to the Fund investment advice and recommendations; (ii) supervise the
purchase and sale of securities as directed by appropriate Fund officers, and
(iii) be responsible for the administration of the Fund. The Advisory Agreement
is not assignable and may be terminated without penalty upon 60 days' written
notice at the option of either the Fund, TFAI or by a vote of shareholders of
the Fund. The Advisory Agreement provides that after an initial term of up to
two years, it can be continued from year to year so long as such continuance is
specifically approved annually (a) by the Board of Trustees or by a majority of
the outstanding shares of the Fund and (b) by a majority vote of the Trustees
who are not parties to the Advisory Agreement or interested persons of any such
party cast in person at a special meeting called for such purposes.

The Advisory Agreement also provides that TFAI shall not be liable to the Funds
or to any shareholder for any error of judgment or mistake of law or for any
loss suffered by the Fund or by any shareholder in connection with matters to
which the Advisory Agreement relates, except for a breach of fiduciary duty or a
loss resulting from willful misfeasance, bad faith, gross negligence, or
reckless disregard on the part of TFAI in the performance of its duties
thereunder.

Each Fund pays its allocable share of the fees and expenses of its
non-interested trustees, custodian and transfer agent fees, brokerage
commissions and all other expenses in connection with the execution of its
portfolio transactions, administrative, clerical, recordkeeping, bookkeeping,
legal, auditing and accounting expenses, interest and taxes, expenses of
preparing tax returns, expenses of shareholders' meetings and preparing,
printing and mailing proxy statements (unless otherwise agreed to by the Funds
or TFAI, expenses of preparing and typesetting periodic reports to shareholders
(except for those reports the Funds permit to be used as sales literature), and
the costs, including filing fees, of renewing or maintaining registration of
Fund shares under federal and state law.

EXPENSE LIMITATION

TFAI has entered into an expense limitation arrangement with Transamerica IDEX
on behalf of the Funds, pursuant to which TFAI has agreed to waive fees and/or
reimburse expenses, whenever, in any fiscal year, the total cost to a Fund of
normal operating expenses chargeable to its income account, including the
investment advisory fee but excluding brokerage commissions, interest, taxes,
and 12b-1 fees, exceeds a certain percentage of the Funds' average daily net
assets as listed below. The Fund will, at a later date reimburse TFAI for fees
and/or expenses previously waived or reimbursed during the previous 36 months if
the estimated annualized operating expenses of the Fund are less than the
expense cap. However, the Fund will proceed to such recoupment only if, after
such recoupment, the Funds' expense ratio does not exceed the expense cap. The
agreement continues automatically for one-year terms unless TFAI provides
written notice to Transamerica IDEX. The agreement will terminate upon
termination of the Investment Advisory Agreement.

The applicable expense caps for each of the Funds are listed in the following
table:


                                       12





                    FUND                       EXPENSE CAP
                    ----                       -----------
                                            
TA IDEX Oppenheimer Small- & Mid-Cap Value        1.15%
TA IDEX Bjurman, Barry Micro Emerging Growth      1.25%


SUB-ADVISERS

OppenheimerFunds, Inc. ("Oppenheimer"), located at Two World Financial Center,
225 Liberty Street, 11th Floor, New York, NY 10281, serves as sub-adviser to TA
IDEX Oppenheimer Small- & Mid-Cap Value pursuant to a sub-advisory agreement
with TFAI.

Bjurman, Barry & Associates ("Bjurman, Barry"), located at 10100 Santa Monica
Blvd., Suite 1200, Los Angeles, CA 90067, serves as sub-adviser to TA IDEX
Bjurman, Barry Micro Emerging Growth pursuant to a sub-advisory agreement with
TFAI.



                    Fund                         Sub-Adviser                        Sub-Advisory Fee
                    ----                         -----------                        ----------------
                                                          
TA IDEX Oppenheimer Small- & Mid-Cap Value     Oppenheimer      0.40% of assets up to $250 million of average daily net
                                                                assets; 0.375% over $250 up to $500 million of average
                                                                daily net assets; 0.35% of average daily net assets in
                                                                excess of $500 million.

TA IDEX Bjurman, Barry Micro Emerging Growth   Bjurman, Barry   0.55% of average daily net assets.


INFORMATION ABOUT THE FUNDS' PORTFOLIO MANAGER

Information regarding the other accounts managed by the Funds' portfolio
manager, the methods by which the Funds' portfolio manager is compensated, the
range of securities owned by the portfolio manager and a description of the
conflicts of interest policy applicable to the portfolio manager are provided in
Appendix A of this SAI.

                                   DISTRIBUTOR

Transamerica IDEX has entered into an Underwriting Agreement with AFSG
Securities Corporation ("AFSG"), located at 4333 Edgewood Rd. NE, Cedar Rapids,
Iowa 52494 to act as the principal underwriter of the shares of the Funds. The
Underwriting Agreement will continue from year to year so long as its
continuance is approved at least annually in the same manner as the investment
advisory agreements discussed above.

                             ADMINISTRATIVE SERVICES

TFAI is responsible for the supervision of all administrative functions and
paying its allocable portion of the salaries, fees and expenses of all Fund
officers and of those trustees who are affiliated with TFAI. The costs and
expenses, including legal and accounting fees, filing fees and printing costs in
connection with the formation of the Fund and the preparation and filing of the
Funds' initial registration statements under the 1933 Act and 1940 Act are also
paid by TFAI. Transamerica IDEX has entered into an Administrative Services
Agreement ("Administrative Agreement") with Transamerica Fund Services, Inc.
("TFS") on behalf of the Fund. Under the Administrative Agreement, TFS carries
out and supervises all of the administrative functions of the Fund and incurs
expenses payable by Transamerica IDEX related to such functions. The Funds have
entered into an agreement wherein each Fund would pay 0.02% of its daily net
assets annually for such administrative service.

The administrative duties of TFS with respect to the Funds include: providing
each Fund with office space, telephones, office equipment and supplies; paying
the compensation of the Funds' officers for services rendered as such;
supervising and assisting in preparation of annual and semi-annual reports to
shareholders, notices of dividends, capital gain distributions and tax
information; supervising compliance by the Fund with the recordkeeping
requirements under the 1940 Act and regulations thereunder and with the state
regulatory requirements; maintaining books and records of the Fund (other than
those maintained by the Funds' custodian and transfer agent); preparing and
filing tax returns and reports; monitoring and supervising relationships with
the Funds' custodian and transfer agent; monitoring the qualifications of tax
deferred retirement plans providing for investment in shares of each Fund;
authorizing expenditures


                                       13



and approving bills for payment on behalf of each Fund; and providing executive,
clerical and secretarial help needed to carry out its duties.

As of the date of this SAI, the Funds have not commenced operations. As a
result, no administrative fees were paid for the past fiscal year.

                 CUSTODIAN, TRANSFER AGENT AND OTHER AFFILIATES

Investors Bank & Trust Company ("IBT"), 200 Clarendon Street, 16th Floor,
Boston, Massachusetts 02116, is custodian for Transamerica IDEX. The custodian
is not responsible for any of the investment policies or decisions of the Funds,
but holds its assets in safekeeping, and collects and remits the income thereon
subject to the instructions of the Funds.

TFS, 570 Carillon Parkway, St. Petersburg, Florida 33716, also is the transfer
agent, withholding agent and dividend disbursing agent for the Fund. TFS is a
wholly-owned subsidiary of AUSA Holding Company and thus is an affiliate of
TFAI. The Funds pay the transfer agent an annual per-account charge of $19.60
for each Open Account and $1.50 for each Closed Account. There is no new account
charge.

Transaction requests should be mailed to Transamerica IDEX Mutual Funds, P.O.
Box 219945, Kansas City, MO 64121-9945 or Transamerica IDEX Mutual Funds, 330 W.
9th Street, Kansas City, MO 65105 (for overnight mail).

IBT is a provider of data processing and recordkeeping services for the
Transamerica IDEX transfer agent. The Funds may use an affiliate of IBT as
introducing broker for certain portfolio transactions as a means to reduce
expenses through a credit against transfer agency fees with regard to
commissions earned by such affiliate. (See "Fund Transactions and Brokerage.")

As of the date of this SAI, the Fund has not commenced operations. As a result,
no transfer agency fees were paid and no brokerage credits were received for the
past fiscal year.

                         FUND TRANSACTIONS AND BROKERAGE

Decisions as to the assignment of fund business for each of the funds and
negotiation of commission rates are made by a Funds' sub-adviser, whose policy
is to obtain the "best execution" of all fund transactions. The Investment
Advisory Agreement and Investment Counsel Agreement/Sub-Advisory Agreement for
each fund specifically provide that in placing portfolio transactions for a
fund, the Funds' sub-adviser may agree to pay brokerage commissions for
effecting a securities transaction in an amount higher than another broker or
dealer would have charged for effecting that transaction as authorized, under
certain circumstances, by the Securities Exchange Act of 1934, as amended (the
"1934 Act").

In selecting brokers and dealers and in negotiating commissions, a Funds'
sub-adviser may consider a number of factors, including but not limited to:

     The sub-adviser's knowledge of currently available negotiated commission
     rates or prices of securities and other current transaction costs;

     The nature of the security being traded;

     The size and type of the transaction;

     The nature and character of the markets for the security to be purchased or
     sold;

     The desired timing of the trade;

     The activity existing and expected in the market for the particular
     security;

     The quality of the execution, clearance and settlement services;

     Financial stability;

     The existence of actual or apparent operational problems of any broker or
     dealer; and

     Research products and services provided.

In recognition of the value of the foregoing factors, the sub-adviser may place
portfolio transactions with a broker with whom it has negotiated a commission
that is in excess of the commission another broker would have charged for
effecting


                                       14



that transaction. This is done if the sub-adviser determines in good faith that
such amount of commission was reasonable in relation to the value of the
brokerage and research provided by such broker viewed in terms of either that
particular transaction or of the overall responsibilities of the sub-adviser.
Research provided may include:

     Furnishing advice, either directly or through publications or writings, as
     to the value of securities, the advisability of purchasing or selling
     specific securities and the availability of securities or purchasers or
     sellers of securities;

     Furnishing seminars, information, analyses and reports concerning issuers,
     industries, securities, trading markets and methods, legislative
     developments, changes in accounting practices, economic factors and trends
     and portfolio strategy;

     Access to research analysts, corporate management personnel, industry
     experts, economists and government officials; and

     Comparative performance evaluation and technical measurement services and
     quotation services, and other services (such as third party publications,
     reports and analyses, and computer and electronic access, equipment,
     software, information and accessories that deliver process or otherwise
     utilize information, including the research described above) that assist
     the sub-adviser in carrying out its responsibilities.

Most of the brokers and dealers used by the funds' sub-advisers provide research
and other services described above.

A sub-adviser may use research products and services in servicing other accounts
in addition to the funds. If a sub-adviser determines that any research product
or service has a mixed use, such that it also serves functions that do not
assist in the investment decision-making process, a sub-adviser may allocate the
costs of such service or product accordingly. The portion of the product or
service that a sub-adviser determines will assist it in the investment
decision-making process may be paid for in brokerage commission dollars. Such
allocation may be a conflict of interest for a sub-adviser.

When a fund purchases or sells a security in the over-the-counter market, the
transaction takes place directly with a principal market-maker without the use
of a broker, except in those circumstances where better prices and executions
will be achieved through the use of a broker.

A sub-adviser may place transactions for the purchase or sale of portfolio
securities with affiliates of TFAI, AFSG or the sub-adviser, including
InterSecurities, Inc., AEGON USA Securities, Inc. or DST Securities, Inc. A
sub-adviser may place transactions if it reasonably believes that the quality of
the transaction and the associated commission are fair and reasonable, and if
overall the associated transaction costs, net of any credits described above
under "Custodian, Transfer Agent and Other Affiliates," are lower than those
that would otherwise be incurred. Under rules adopted by the SEC, Transamerica
IDEX's Board of Trustees will conduct periodic compliance reviews of such
brokerage allocations and review certain procedures adopted by the Board of
Trustees to ensure compliance with these rules and to determine their continued
appropriateness.

DIRECTED BROKERAGE

A sub-adviser to a fund, to the extent consistent with the best execution and
with TFAI's usual commission rate policies and practices, may place portfolio
transactions of the fund with broker/dealers with which the fund has established
a Directed Brokerage Program. A Directed Brokerage Program is any arrangement
under which a broker/dealer applies a portion of the commissions received by
such broker/dealer on the Funds' portfolio transactions to the payment of
operating expenses that would otherwise be borne by the fund. These commissions
are not used for promoting or selling fund shares or otherwise related to the
distribution of fund shares.

                              TRUSTEES AND OFFICERS

The Trustees and executive officers of Transamerica IDEX are listed below. The
Board of Trustees governs each TA IDEX fund and is responsible for protecting
the interests of the shareholders. The Trustees are experienced executives who
meet periodically throughout the year to oversee the business affairs of the TA
IDEX funds and the operation of Transamerica IDEX by its officers. The Board
also reviews the management of the Funds' assets by TFAI and the Sub-Adviser.
Transamerica IDEX is part of a Fund Complex which consists of Transamerica IDEX,
AEGON/Transamerica Series Trust ("ATST"), and Transamerica Income Shares, Inc.
("TIS"), and consists of 89 funds/portfolios as of the date of this SAI.


                                       15


Each Trustee holds office for an indefinite term until the earlier of (1) the
next meeting of shareholders at which Trustees are elected and until his or her
successor is elected and qualified; or (2) a Trustee resigns, is replaced or his
or her term as a Trustee is terminated in accordance with the Funds' by-laws.
The executive officers are elected and appointed by the Trustees and hold office
until they resign, are removed, or are otherwise disqualified to serve.



                                            TERM OF                                                      NUMBER
                                          OFFICE AND                                                    OF FUNDS
                                           LENGTH OF                                                   IN COMPLEX       OTHER
NAME, ADDRESS AND AGE         POSITION   TIME SERVED*    PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS    OVERSEEN    DIRECTORSHIPS
- ---------------------         --------   ------------    -------------------------------------------   ----------   -------------
                                                                                                     
INTERESTED TRUSTEES+

Brian C. Scott               Trustee,    2002-present   Trustee, President and CEO, ATST (2002-present);   89            N/A
4333 Edgewood Rd. NE         President                  Manager, Transamerica Investment Management,
Cedar Rapids, IA 52499       & CEO                      LLC (TIM) (2002-2005); President & Director,
(DOB 9/29/43)*                                          TIF (2002- 2004); Director, President & CEO
                                                        Transamerica Fund Advisors, Inc. (TFAI)
                                                        (2001-present) & President (2001-present),
                                                        Director & CEO Transamerica Fund Services,
                                                        Inc. (TFS) (2002-present); CEO, Transamerica
                                                        Investors, Inc. (TII) (2003-present);
                                                        Director, President & CEO Endeavor
                                                        Management Co. (2001-2002).

INDEPENDENT TRUSTEES

Peter R. Brown               Chairman,   1986-present   Chairman & Trustee, ATST (1986-                    89            N/A
8323 40th Place North        Trustee                    present) and Director, TIS (2002-present);
St. Petersburg, FL 33709                                Chairman of the Board, Peter Brown
(DOB 5/10/28)                                           Construction Company (1963- 2000); Rear
                                                        Admiral (Ret.) U.S. Navy Reserve, Civil
                                                        Engineer Corps

Charles C. Harris            Trustee     1994-present   Trustee, ATST (1986-present) and Director,         89            N/A
2 Seaside Lane #304                                     TIS (2002-present)
Belleair Bluffs, FL 33764
(DOB 1/15/30)

Russell A. Kimball, Jr.      Trustee     2002-present   Trustee, ATST (2002-present) and Director,         89            N/A
1160 Gulf Boulevard                                     TIS (2002-present); General Manager,
Clearwater Beach, FL 34630                              Sheraton Sand Key Resort (1975 - present)
(DOB 8/17/44)

William W. Short, Jr.        Trustee     1986-present   Trustee, ATST (2000-present) and Director,         89            N/A
7882 Lantana Creek Road                                 TIS (2002-present); Retired CEO and Chairman
Largo, FL 33777                                         of the Board, Shorts, Inc.
(DOB 2/25/36)

Daniel Calabria              Trustee     1996-present   Trustee, ATST (2001-present) and Director,         89            N/A
7068 S. Shore Drive S.                                  TIS (2002-present); Trustee, Florida Tax
South Pasadena, FL 33707                                Free Funds (1993-2004)
(DOB 3/05/36)

Jack E. Zimmerman            Trustee     1986-present   Retired Director, Regional Marketing of            46            N/A
6778 Rosezita Lane                                      Marietta Corporation & Director of Strategic
Dayton, OH 45459                                        Planning, Martin Marietta Baltimore
(DOB 2/3/28)                                            Aerospace.



                                       16





                                            TERM OF                                                      NUMBER
                                          OFFICE AND                                                    OF FUNDS
                                           LENGTH OF                                                   IN COMPLEX       OTHER
NAME, ADDRESS AND AGE         POSITION   TIME SERVED*    PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS    OVERSEEN    DIRECTORSHIPS
- ---------------------         --------   ------------    -------------------------------------------   ----------   -------------
                                                                                                     
Leo J. Hill                  Trustee     2002-present   Trustee, ATST (2001-present) and Director, TIS     89         N/A
7922 Bayou Club Blvd.                                   (2002-present); Owner & President, Prestige
Largo, FL 33777                                         Automotive Group (2001-2005)
(DOB 3/27/56)

John W. Waechter             Trustee     2005-present   Trustee, ATST (2004-present) & Director TIS        89         N/A
3913 Bayview Circle                                     (2004-present); Executive Vice President,
Gulfport, FL 33707                                      Chief Financial Officer, Chief Compliance
(DOB 2/25/52)                                           Officer, William R. Hough & Co.
                                                        (1979-present), Treasurer The Hough Group of
                                                        Funds (1993-2004)

Janice B. Case               Trustee     2002-present   Trustee, ATST (2001-present), Director,            89         Central
205 Palm Island NW                                      TIS (2002-present); Director, Central Vermont                 Vermont
Clearwater, FL 33767                                    Public Service Co. (Audit Committee); Director,               Public
(DOB 9/27/52)                                           Western Electricity Coordinating Council                      Service
                                                        (Chairman, Human Resources and Compensation                   Co.
                                                        Committee); Senior Vice President Florida Power
                                                        Corporation (1996-2000)

Norm R. Nielsen              Trustee     2006-present   Trustee, ATST (2006-present); Director, TIS        89         Iowa Student
9687 Cypress Hammock, #201                              (2006-present); President, Kirkwood Community                 Loan Liquidity
Bonita Springs, FL 34135                                College, 1985-2005, Director, Iowa Health Systems,            Corporation,
(DOB __________)                                        1994-2003, Director, Iowa City Area Development,              1998-present,
                                                        1996-2004                                                     Buena Vista
                                                                                                                      University
                                                                                                                      Board of
                                                                                                                      Trustees,
                                                                                                                      2004-present

Robert L. Anderson, Ph.D.    Trustee     2005-present   Dean, Professor, College of Business,              46         N/A
3301 Bayshore Blvd., #1408                              University of South Florida (1995-present)
Tampa, FL 33629
(DOB 10/30/40)


OFFICERS



                                             TERM OF
                                           OFFICE AND
                                            LENGTH OF
                                              TIME
NAME, ADDRESS AND AGE         POSITION      SERVED***    PRINCIPAL OCCUPATION(S) OR EMPLOYMENT DURING PAST 5 YEARS
- ---------------------         ---------    ----------    ---------------------------------------------------------
                                                
John K. Carter               Senior       1999-present   Sr. Vice President, General Counsel, Secretary & Chief
(DOB 4/24/61)                Vice                        Compliance Officer, ATST (1999-present), & TIS (2002-present);
                             President,                  Director, Sr. Vice President, General Counsel, & Secretary, TFAI
                             General                     (2000-present) & TFS (2001-present); Chief Compliance Officer,
                             Counsel,                    TFAI (2004-present); Vice President, AFSG Securities Corporation
                             Secretary                   (AFSG)(2001-present); Sr. Vice President, General Counsel, Secretary &
                             & Chief                     Chief Compliance Officer, TII (2003-present); Vice President, Transamerica
                             Compliance                  Investment Services, Inc. (TISI) (2003-2005) & TIM (2001-present)
                             Officer

Glenn Brightman              Vice         2005-present   Vice President & Principal Financial Officer, ATST, TII; Vice
(DOB 12/01/72)               President,                  President, TFS, TFAI (Nov 2005-present); Manager-Mutual Fund
                             Treasurer                   Accounting, The Vanguard Group, Inc. (1996-2005).
                             & Chief
                             Financial
                             Officer


+    May be deemed an "interested person" (as that term is defined in the 1940
     Act) of TA IDEX because of his employment with TFAI or an affiliate of
     TFAI.

*    Each trustee serves an indefinite term until he or she is removed, reaches
     mandatory retirement age, resigns or becomes incapacitated.

**   The business address of each officer is 570 Carillon Parkway, St.
     Petersburg, FL 33716. No officer of TA IDEX, except for the Chief
     Compliance Officer, receives any compensation from TA IDEX.

***  Elected and serves at the pleasure of the Board of Trustees of TA IDEX.

COMMITTEES OF THE BOARD

The Trustees are responsible for major decisions relating to each fund's
objective, policies and techniques. They review investment decisions, although
they do not actively participate on a regular basis in making such decisions.
The Board of Trustees has eight standing committees that each perform
specialized functions: the Audit, Nominating, Valuation, Valuation Oversight,
Governance, Contract Renewal, Compensation and Proxy Voting Committees. Except
for the Valuation Committee, each committee is composed solely of Independent
Trustees.


                                       17






                                                                                                              NUMBER OF
                                                                                                            MEETINGS HELD
                                                                                                             DURING LAST
     COMMITTEE                                FUNCTIONS                                    MEMBERS           FISCAL YEAR
     ---------                                ---------                                    -------          -------------
                                                                                                   
AUDIT                Review the financial reporting process, the system of        John Waechter, Chairman;        5
                     internal control, the audit process, and the Transamerica    Janice Case; Charles
                     IDEX process for monitoring compliance with investment       Harris; Daniel Calabria;
                     restrictions and applicable laws and the Transamerica IDEX   Leo Hill, Peter Brown;
                     Code of Ethics.                                              William Short, Jr. &
                                                                                  Russell Kimball


NOMINATING           The Nominating Committee operates under a written charter.   Peter Brown, Chairman;          1
                     The Nominating Committee nominates and evaluates             Daniel Calabria; Charles
                     Independent Trustee candidates. The Nominating Committee     Harris; William Short,
                     meets periodically, as necessary, and met twice during TA    Jr. & Russell Kimball
                     IDEX's most recently completed fiscal year. While the
                     Nominating Committee is solely responsible for the
                     selection and nomination of potential candidates to serve
                     on the Board, the Nominating Committee may consider
                     nominations from shareholders of the funds. Shareholders
                     may submit for the Nominating Committee's consideration,
                     recommendations regarding potential nominees for service on
                     the Board. Each eligible shareholder or shareholder group
                     may submit no more than one nominee each calendar year.

                     In order for the Nominating Committee to consider
                     shareholder submissions, the following requirements, among
                     others, must be satisfied regarding the nominee: the
                     nominee must satisfy all qualifications provided in TA
                     IDEX's organizational documents, including qualification as
                     a possible Independent Director/Trustee if the nominee is
                     to serve in that capacity; the nominee may not be the
                     nominating shareholder, a member of the nominating
                     shareholder group or a member of the immediate family of
                     the nominating shareholder or any member of the nominating
                     shareholder group; neither the nominee nor any member of
                     the nominee's immediate family may be currently employed or
                     employed within the year prior to the nomination by any
                     nominating shareholder entity or entity in a nominating
                     shareholder group; neither the nominee nor any immediate
                     family member of the nominee is permitted to have accepted
                     directly or indirectly, during the year of the election for
                     which the nominee's name was submitted, during the
                     immediately preceding calendar year, or during the year
                     when the nominee's name was



                                       18





                                                                                                              NUMBER OF
                                                                                                            MEETINGS HELD
                                                                                                             DURING LAST
     COMMITTEE                                FUNCTIONS                                    MEMBERS           FISCAL YEAR
     ---------                                ---------                                    -------          -------------
                                                                                                   
                     submitted, any consulting, advisory, or other compensatory
                     fee from the nominating shareholder or any member of a
                     nominating shareholder group; the nominee may not be an
                     executive officer, director/trustee or person fulfilling
                     similar functions of the nominating shareholder or any
                     member of the nominating shareholder group, or of an
                     affiliate of the nominating shareholder or any such member
                     of the nominating shareholder group; the nominee may not
                     control the nominating shareholder or any member of the
                     nominating shareholder group (or, in the case of a holder
                     or member that is a fund, an interested person of such
                     holder or member as defined by Section 2(a)(19) of the 1940
                     Act); and a shareholder or shareholder group may not submit
                     for consideration a nominee which has previously been
                     considered by the Nominating Committee.

                     In addition, in order for the Nominating Committee to
                     consider shareholder submissions, the following
                     requirements must be satisfied regarding the shareholder or
                     shareholder group submitting the proposed nominee: any
                     shareholder or shareholder group submitting a proposed
                     nominee must beneficially own, either individually or in
                     the aggregate, more than 5% of a Funds' (or a series
                     thereof) securities that are eligible to vote both at the
                     time of submission of the nominee and at the time of the
                     Board member election (each of the securities used for
                     purposes of calculating this ownership must have been held
                     continuously for at least two years as of the date of the
                     nomination); in addition, such securities must continue to
                     be held through the date of the meeting and the nominating
                     shareholder or shareholder group must also bear the
                     economic risk of the investment; and the nominating
                     shareholder or shareholder group must also submit a
                     certification which provides the number of shares which the
                     person or group has (a) sole power to vote or direct the
                     vote, (b) shared power to vote or direct the vote, (c) sole
                     power to dispose or direct the disposition of such shares,
                     and (d) shared power to dispose or direct the disposition
                     of such shares (in addition the certification shall provide
                     that the shares have



                                       19





                                                                                                              NUMBER OF
                                                                                                            MEETINGS HELD
                                                                                                             DURING LAST
     COMMITTEE                                FUNCTIONS                                    MEMBERS           FISCAL YEAR
     ---------                                ---------                                    -------          -------------
                                                                                                   
                     been held continuously for at least two years).

                     In assessing the qualifications of a potential candidate
                     for membership on the Board, the Nominating Committee may
                     consider the candidate's potential contribution to the
                     operation of the Board and its committees, and such other
                     factors as it may deem relevant.

COMPENSATION         Reviews compensation arrangements for each Trustee           Janice Case; Charles            1
                                                                                  Harris, Co-Chairs; Peter
                                                                                  Brown; Daniel Calabria;
                                                                                  Russell Kimball; Leo
                                                                                  Hill; William Short,
                                                                                  Jr.; Jack Zimmerman;
                                                                                  Robert Anderson &
                                                                                  John Waechter

VALUATION OVERSIGHT  Oversee the process by which the Fund calculates its net     Leo Hill, Chairman;             4
                     asset value to verify consistency with its valuation         Charles Harris; &
                     policies and procedures, industry guidance, interpretative   William Short, Jr.
                     positions issued by the SEC and its staff, and industry
                     best practices.

PROXY VOTING         Provides the Funds' consent to vote in matters where the     Russell A. Kimball, Jr.,        1
                     Adviser or Sub-Adviser seeks such consent because of a       Chairperson; William
                     conflict of interest that arises in connection with a        Short; Leo Hill
                     particular vote, or for other reasons. The Proxy Committee
                     also may review the Adviser's and the Sub-Adviser's proxy
                     voting policies and procedures in lieu of submission of the
                     policies and procedures to the entire Board for approval.

GOVERNANCE           Provide oversight responsibilities and monitor certain       Daniel Calabria,                1
                     issues, in consultation with the Chief Compliance Officer    Chairman; William Short,
                     and independent trustees' counsel, that affect the duties    Jr.; Russell Kimball,
                     of independent members of the Board                          Jr. & Leo J. Hill

CONTRACT RENEWAL     Reviews contracts between or among the Fund and its service  Russell Kimball, Jr.,           1
                     providers. Oversight responsibilities for the process of     Chairman; Daniel
                     evaluating new contracts, reviewing existing contracts on a  Calabria; Janice Case
                     periodic basis and make recommendations to the Board with    & Jack E. Zimmerman
                     respect to any contracts affecting the Fund.

MARKETING            Oversees the marketing efforts on behalf of the Funds.       Robert Anderson,                0
OVERSIGHT                                                                         Chairman and Janice
                                                                                  Case



                                       20


TRUSTEE OWNERSHIP OF EQUITY SECURITIES

The table below gives the dollar range of shares of the Funds, as well as the
aggregate dollar range of shares of all funds advised and sponsored by TFAI
(collectively, the "Fund Complex"), owned by each Trustee as of December 31,
2005:



                                                                          AGGREGATE DOLLAR RANGE OF EQUITY SECURITIES IN
                                                                           ALL REGISTERED INVESTMENT COMPANIES OVERSEEN
NAME OF TRUSTEE           DOLLAR RANGE OF EQUITY SECURITIES IN THE FUND    BY TRUSTEES IN FAMILY OF INVESTMENT COMPANIES
- ---------------           ---------------------------------------------   ----------------------------------------------
                                                                    
Peter R. Brown
Daniel Calabria
Janice B. Case
Charles C. Harris
Leo J. Hill
Russell A. Kimball, Jr.
Brian C. Scott*
William W. Short, Jr.
Jack E. Zimmerman
John W. Waechter
Robert L. Anderson
Norm R. Nielsen


*    Interested Trustees as defined in the 1940 Act due to employment with an
     TFAI affiliate.

CONFLICTS OF INTEREST

The following table sets forth information as of December 31, 2005 about
securities owned beneficially or of record by each Independent Trustee or
members of his or her immediate family, representing interests in the Investment
Adviser, Sub-Adviser or Distributor of the Funds, or any person controlling,
controlled by or under common control with such persons. For this purpose,
"immediate family member" includes the Trustee's spouse, children residing in
the Trustee's household and dependents of the Trustee.



                            NAME OF OWNERS AND                TITLE OF    VALUE OF
NAME OF TRUSTEE          RELATIONSHIPS TO TRUSTEE   COMPANY     CLASS    SECURITIES   PERCENT OF CLASS
- ---------------          ------------------------   -------   --------   ----------   ----------------
                                                                       
Peter R. Brown
Charles C. Harris
Russell A. Kimball, Jr.
William W. Short, Jr.
Robert L. Anderson
Daniel Calabria
Janice B. Case
Leo J. Hill
Jack E. Zimmerman
John W. Waechter
Norm R. Nielsen


Disinterested Trustees receive a total annual retainer fee of $64,000 from the
TA IDEX funds, of which the funds pay a pro rata share allocable to each TA IDEX
fund based on the relative assets of the fund. The Chairman of the Board also
receives an additional retainer of $40,000 per year. Each Audit Committee member
receives an additional retainer of $6,000, except the audit committee financial
expert, whose additional retainer amounts to $10,000. Any fees and expenses paid
to Trustees who are affiliates of TFAI or AFSG are paid by TFAI and/or AFSG and
not by the funds.

Under a non-qualified deferred compensation plan (the "Plan") available to the
Trustees, compensation may be deferred that would otherwise be payable by the
Transamerica IDEX and/or ATST, to a Disinterested Trustee on a current basis for
services rendered as Trustee. Deferred compensation amounts will accumulate
based on the value of Class A shares of a fund (without imposition of sales
charge), as elected by the Trustee. It is not anticipated that the Plan will
have any material impact on the funds.

Although the Funds have not yet commenced operations, the following table
provides compensation amounts paid to Disinterested Trustees for the fiscal year
ended October 31, 2005 by TA IDEX:


                                       21


                               COMPENSATION TABLE



                                 AGGREGATE COMPENSATION FROM         PENSION OR RETIREMENT
                                   TRANSAMERICA IDEX MUTUAL    BENEFITS ACCRUED AS PART OF FUND     TOTAL COMPENSATION PAID TO
NAME OF PERSON, POSITION                   FUNDS(1)                        EXPENSES               TRUSTEES FROM FUND COMPLEX(3)
- ------------------------         ---------------------------   --------------------------------   -----------------------------
                                                                                         
Peter R. Brown, Trustee
Daniel Calabria, Trustee
Janice Case, Trustee
Charles C. Harris, Trustee
Leo Hill, Trustee
Russell Kimball, Trustee
William W. Short, Jr., Trustee
Jack E. Zimmerman, Trustee
                                         -----------                      ----------                        ----------
John W. Waechter(3)
                                         -----------                      ----------                        ----------
Robert Anderson(4)
                                         -----------                      ----------                        ----------

Norm R. Nielsen(5)

Total:
                                         ===========                      ==========                        ==========


(1)  Of this aggregate compensation, the total amounts deferred (including
     earnings) and accrued for the benefit of the participating Trustees for the
     year ended October 31, 2005 were as follows:

(2)  The Fund Complex currently consists of Transamerica IDEX, ATST and TIS.

(3)  Mr. Waechter did not become a Trustee until February 25, 2005.

(4)  Mr. Anderson did not become a Trustee until September, 2005.

(5)  Mr. Nielsen did not become a Trustee until May, 2006.

A Trustee who is an Independent Trustee may elect to serve as Trustee Emeritus
of the Trust upon his or her voluntary resignation as Trustee, provided such
person has served at least five years as Trustee of the Trust. While serving as
such, a Trustee shall be entitled to receive a fee per annum equal to 50% of the
retainer as paid to the Independent Trustees of the Trust. In addition, a
Trustee Emeritus will receive reimbursement of actual and reasonable expenses
incurred for attendance at Board meetings. A Trustee Emeritus who served as
Chairman of the Board will also receive 50% of the additional retainer that is
designed for the position of Chairman.

                      SHAREHOLDER COMMUNICATION PROCEDURES
                             WITH BOARD OF TRUSTEES

The Board of Trustees of TA IDEX has adopted these procedures by which
shareholders of a fund may send written communications to the Board.
Shareholders may mail written communications to the Board, addressed to the care
of the Secretary of TA IDEX ("Secretary"), as follows:

                                        Board of Trustees
                                        Transamerica IDEX Mutual Funds
                                        c/o Secretary
                                        570 Carillon Parkway
                                        St. Petersburg, Florida 33716

Each shareholder communication must (i) be in writing and be signed by the
shareholder, (ii) identify the underlying portfolio of the fund to which it
relates, and (iii) identify the class (if applicable) held by the shareholder.
The Secretary is responsible for collecting, reviewing and organizing all
properly submitted shareholder communications. Usually, with respect to each
properly submitted shareholder communication, the Secretary shall either (i)
provide a copy of the communication to the Board at the next regularly scheduled
Board meeting or (ii) if the Secretary determines that the communication
requires more immediate attention, forward the communication to the Board
promptly after receipt. The Secretary may, in good faith, determine that a
shareholder communication should not be provided to the Board because the
communication (i) does not reasonably relate to the fund or its operation,
management, activities, policies, service providers, Board, officers,
shareholders or other matters relating to an investment in the fund, or (ii) is
ministerial in nature (such as a request for fund literature, share data or
financial information).


                                       22


                          NET ASSET VALUE DETERMINATION

The price at which shares are purchased or redeemed is the net asset value per
share ("NAV") that is next calculated following receipt and acceptance of a
purchase order in good order or receipt of a redemption order in good order by
the Funds or an authorized intermediary.

WHEN SHARE PRICE IS DETERMINED

The NAV of each Fund is determined on each day the New York Stock Exchange
("NYSE") is open for business. The NAV is not determined on days when the NYSE
is closed (generally New Year's Day, Martin Luther King Jr. Day, President's
Day, Good Friday, Memorial Day, Independence Day, Labor Day, Thanksgiving and
Christmas). Foreign securities may trade in their primary markets on weekends or
other days when a fund does not price its shares (therefore, the NAV of a fund
holding foreign securities may change on days when the shareholders will not be
able to buy or sell shares of the Fund).

Purchase orders received in good order and accepted, and redemption orders
received in good order, before the close of business on the NYSE, usually 4:00
p.m. Eastern Time, receive the NAV determined as of the close of the NYSE that
day. Purchase and redemption requests received after the NYSE is closed receive
the NAV at the close of the NYSE the next day the NYSE is open.

HOW NAV IS DETERMINED

The NAV of each Fund is calculated by taking the value of its assets, less
liabilities, and dividing by the number or shares the fund (or class) that are
then outstanding.

In general, securities and other investments are valued at market value when
market quotations are readily available. Fund securities listed or traded on
domestic securities exchanges or the NASDAQ/NMS, including dollar-dominated
foreign securities or ADRs, are valued at the closing price on the exchange or
system where the security is principally traded. With respect to securities
traded on the NASDAQ/NMS, such closing price may be the last reported sale price
or the NASDAQ Official Closing Price ("NOCP"). If there have been no sales for
that day on the exchange or system where the security is principally traded,
then the value should be determined with reference to the last sale price, or
the NOCP, if applicable, on any other exchange or system. If there have been no
sales for that day on any exchange or system, a security is valued at the
closing bid quotes on the exchange or system where the security is principally
traded, or at the NOCP, if applicable. Foreign securities traded on U.S.
exchanges are generally priced using last sale price regardless of trading
activity. Securities traded over-the-counter are valued at the mean of the last
bid and asked prices. Investments in securities maturing in 60 days or less may
be valued at amortized cost. Foreign securities generally are valued based on
quotations from the primary market in which they are traded, and are converted
from the local currency into U.S. dollars using current exchange rates. Market
quotations for securities prices may be obtained from automated pricing
services.

When a market quotation for a security is not readily available (which may
include closing prices deemed to be unreliable because of the occurrence of a
subsequent event), a valuation committee appointed by the Board of Trustees may,
in good faith, establish a fair value for the security in accordance with
valuation procedures adopted by the Board. The types of securities for which
such fair value pricing may be required include, but are not limited to: foreign
securities, where a significant event occurs after the close of the foreign
market on which such security principally trades that is likely to have changed
the value of such security, or the closing value is otherwise deemed unreliable;
securities of an issuer that has entered into a restructuring; securities whose
trading has been halted or suspended; fixed income securities that have gone
into default and for which there is no current market value quotation; and
securities that are restricted as to transfer or resale.

Valuing securities at fair value involves greater reliance on judgment than
securities that have readily available market quotations. The valuation
committee makes such determinations in good faith in accordance with the funds'
valuation procedures. Fair value determinations can also involve reliance on
quantitative models employed by a fair value pricing service. There can be no
assurance that a fund could obtain the fair value assigned to a security if it
were to sell the security at approximately the time at which the fund determines
its NAV per share.

                        DIVIDENDS AND OTHER DISTRIBUTIONS

The Funds will distribute all or substantially all of its net investment income
and net capital gains to its shareholders annually.


                                       23



                              REDEMPTION OF SHARES

Shareholders may redeem their shares at any time at a price equal to the net
asset value per share next determined following receipt of a valid redemption
order by the transfer agent, in proper form. Payment will ordinarily be made
within three business days of the receipt of a valid redemption order. The value
of shares on redemption may be more or less than the shareholder's cost,
depending upon the market value of the Funds' net assets at the time of
redemption.

Shares will normally be redeemed for cash, although a Fund retains the right to
redeem its shares in kind under unusual circumstances in order to protect the
interests of the remaining shareholders by the delivery of securities selected
from its assets at its discretion. TA IDEX has, however, elected to be governed
by Rule 18f-1 under the 1940 Act pursuant to which a fund is obligated to redeem
shares solely in cash up to the lesser of $250,000 or 1% of the net asset value
of a fund during any 90-day period for any one shareholder. Should redemptions
by any shareholder exceed such limitation, a Fund will have the option of
redeeming the excess in cash or in kind. If shares are redeemed in kind, the
redeeming shareholder might incur brokerage costs in converting the assets to
cash. The method of valuing securities used to make redemptions in kind will be
the same as the method of valuing portfolio securities for purposes of
calculating the Funds' NAV, and such valuation will be made as of the same time
the redemption price is determined. Upon any distributions in kind, shareholders
may appeal the valuation of such securities by writing to TFS.

Redemption of shares may be suspended, or the date of payment may be postponed,
whenever: (1) trading on the Exchange is restricted, as determined by the SEC,
or the Exchange is closed (except for holidays and weekends); (2) the SEC
permits such suspension and so orders; or (3) an emergency exists as determined
by the SEC so that disposal of securities and determination of net asset value
is not reasonably practicable.

                                      TAXES

In order to qualify as a regulated investment company ("RIC"), the Funds must
meet certain requirements regarding the source of its income, the
diversification of its assets and the distribution of its income.

A Fund expects to qualify, for treatment as a RIC under the Internal Revenue
Code of 1986, as amended (the "Code"). In order to qualify for that treatment,
the Fund must distribute to its shareholders for each taxable year at least 90%
of its investment company taxable income ("Distribution Requirement") and must
meet several additional requirements. With respect to the Fund, these
requirements include the following: (1) the Fund must derive at least 90% of its
gross income each taxable year from dividends, interest, payments with respect
to securities loans, gains from the sale or other disposition of securities or
foreign currencies, net income derived from an interest in a qualified publicly
traded partnership or other income (including gains from options, futures or
forward contracts) derived with respect to its business of investing in
securities or foreign currencies ("Income Requirement"); (2) at the close of
each quarter of the Funds' taxable year, at least 50% of the value of its total
assets must be represented by cash and cash items, U.S. government securities,
securities of other RICs and other securities that, with respect to any one
issuer, do not exceed 5% of the value of the Funds' total assets and that do not
represent more than 10% of the outstanding voting securities of the issuer; and
(3) at the close of each quarter of the Funds' taxable year, not more than 25%
of the value of its total assets may be invested in securities (other than U.S.
government securities or the securities of other RICs) of any one issuer, in two
or more issuers that the Fund controls and which are engaged in the same or
similar trades or businesses or of one or more qualified publicly traded
partnerships. If the Fund qualifies as a regulated investment company and
distributes to its shareholders substantially all of its net income and net
capital gains, then the Fund should have little or no income taxable to it under
the Code. Shareholders of a RIC generally are required to include these
distributions as ordinary income, to the extent the distributions are
attributable to the RIC's investment income (except for qualifying dividends as
discussed below), net short-term capital gain, and certain net realized foreign
exchange gains, or as capital gains, to the extent of the RICs net capital gain
(i.e., net long-term capital gains over net short-term capital losses). If the
Fund fails to qualify as a regulated investment company, the Fund will be
subject to federal, and possibly state, corporate taxes on its taxable income
and gains, and distributions to its shareholders will constitute ordinary
dividend income to the extent of the Funds' available earnings and profits.

The Funds will be subject to a nondeductible 4% excise tax to the extent it
fails to distribute by the end of any calendar year 98% of its ordinary income
for that year and 98% of its capital gains net income for the one-year period
ending on October 31 of that year, plus certain other amounts from prior
periods. The Funds intend to distribute annually a sufficient amount of any
taxable income and capital gains so as to avoid liability for this excise tax.


                                       24



Tax laws generally provides for a maximum tax rate for individual taxpayers of
15% on long-term capital gains from sales and from certain qualifying dividends
on corporate stock. These rate reductions do not apply to corporate taxpayers.
The following are guidelines for how certain distributions by a Fund are
generally taxed to individual taxpayers:

- -    Distributions of earnings from qualifying dividends and qualifying
     long-term capital gains will be taxed at a maximum rate of 15%.

- -    Note that distributions of earnings from dividends paid by certain
     "qualified foreign corporations" can also qualify for the lower tax rates
     on qualifying dividends.

- -    A shareholder and the Fund will also have to satisfy a more than 60-day
     holding period with respect to any distributions of qualifying dividends in
     order to obtain the benefit of the lower tax rate.

- -    Distributions of earnings from non-qualifying dividends, interest income,
     other types of ordinary income and short-term capital gains will be taxed
     at the ordinary income tax rate applicable to the taxpayer.

Upon the sale or other disposition of Fund shares, or upon receipt of a
distribution in complete liquidation of the Fund, a shareholder usually will
realize a capital gain or loss. This loss may be long-term or short-term,
generally depending upon the shareholder's holding period for the shares. For
tax purposes, a loss will be disallowed on the sale or exchange of shares if the
disposed of shares are replaced (including shares acquired pursuant to a
dividend reinvestment plan) within a period of 61 days. The 61 day time window
begins 30 days before and ends 30 days after the date of the sale or exchange of
such shares. Should a disposition fall within this 61 day window, the basis of
the acquired shares will be adjusted to reflect the disallowed loss. Any loss
realized by the shareholder on its disposition of Fund shares held by the
shareholder for six months or less, will be treated as a long term capital loss,
to the extent of any distributions of net capital gains deemed received by the
shareholder, with respect to such shares.

Dividends and interest received by a Fund may be subject to income, withholding
or other taxes imposed by foreign countries and U.S. possessions that would
reduce the yield on its securities. However, tax conventions between certain
countries and the United States may reduce or eliminate these foreign taxes. In
addition, many foreign countries do not impose taxes on capital gains in respect
of investments by foreign investors and most U.S. Tax conventions preclude the
imposition of such taxes.

Passive Foreign Investment Companies -- Each fund may invest in the stock of
"passive foreign investment companies" ("PFICs"). A PFIC is a foreign
corporation that, in general, meets either of the following tests: (1) at least
75% of its gross income is passive; or (2) an average of at least 50% of its
assets produce, or are held for the production of, passive income. Under certain
circumstances, the Fund will be subject to federal income tax on a portion of
any "excess distribution" received on the stock of a PFIC or of any gain on
disposition of that stock (collectively, "PFIC income"), plus interest thereon,
even if the fund distributes the PFIC income as a taxable dividend to its
shareholders. If such a tax is imposed on a fund, the balance of the PFIC income
will be included in the Funds' investment company taxable income and,
accordingly, will not be taxable to the fund to the extent that the income is
distributed to its shareholders. If a fund invests in a PFIC and elects to treat
the PFIC as a "qualified electing fund," then in lieu of the foregoing tax and
interest obligation, the fund will be required to include in income each year
its pro rata share of the qualified electing Funds' annual ordinary earnings and
net capital gain (the excess of net long-term capital gains over net short-term
capital losses). This income inclusion is required even if the PFIC does not
distribute such income and gains to the fund, and the amounts so included would
be subject to the Distribution Requirement described above. In many instances it
will be very difficult, if not impossible, to make this election because of
certain requirements thereof. Distributions from a PFIC are not eligible for the
reduced rate of tax on "qualifying dividends."

In addition, another election may be available that would involve marking to
market a Funds' PFIC stock at the end of each taxable year (and on certain other
dates prescribed in the Code), with the result that unrealized gains are treated
as though they were realized as of such date although any such gains will be
ordinary income rather than capital gain. If this election were made, tax at the
fund level under the excess distribution rules would be eliminated, but a fund
could incur nondeductible interest charges. A Funds' intention to qualify
annually as a regulated investment company may limit a Funds' ability to make an
election with respect to PFIC stock.

Generally, the hedging transactions undertaken by a fund may result in
"straddles" for U.S. federal income tax purposes. The straddle rules may affect
the character of gains (or losses) realized by the fund. In addition, losses
realized by a fund on positions that are part of a straddle may be deferred
under the straddle rules, rather than being taken into account in calculating
the taxable income for the taxable year in which such losses are realized.
Because only a few regulations


                                       25



implementing the straddle rules have been promulgated, the tax consequences of
transactions in options, futures, forward contracts, swap agreements and other
financial contracts to a fund are not entirely clear. The transactions may
increase the amount of short-term capital gain realized by a fund, the ordinary
income received by a Fund and is taxed as ordinary income when distributed to
shareholders.

A fund may make one or more of the elections available under the Code which are
applicable to straddles. If a fund makes any of the elections, the amount,
character and timing of the recognition of gains or losses from the affected
straddle positions will be determined under rules that vary according to the
election(s) made. The rules applicable under certain of the elections may
operate to accelerate the recognition of gains or losses from the affected
straddle positions.

Because application of the straddle rules may affect the character of gains or
losses, defer losses and/or accelerate the recognition of gains or losses from
the affected straddle positions, the amount which must be distributed to
shareholders, and which will be taxed to shareholders as ordinary income or
long-term capital gain, may be increased or decreased as compared to a fund that
invests in a fund which did not engage in such hedging transactions.

Because only a few regulations regarding the treatment of swap agreements, and
related caps, floors and collars, have been implemented, the tax consequences of
such transactions are not entirely clear. A fund intends to account for such
transactions in a manner deemed by them to be appropriate, but the Internal
Revenue Service might not necessarily accept such treatment. If it did not, the
status of a fund as a regulated investment company might be affected.

The requirements applicable to a Funds' qualification as a regulated investment
company may limit the extent to which the fund will be able to engage in
transactions in options, futures contracts, forward contracts, swap agreements
and other financial contracts.

Under the recently enacted tax law, certain hedging activities may cause a
dividend that would otherwise be subject to the lower tax rate applicable to a
"qualifying dividend," to instead be taxed at the rate of tax applicable to
ordinary income.

Market Discount -- If a fund purchases a debt security at a price lower than the
stated redemption price of such debt security, the excess of the stated
redemption price over the purchase amount is "market discount." If the amount of
market discount is more than a de minimis amount, a portion of such market
discount must be included as ordinary income (not capital gain) by the fund in
each taxable year in which the fund owns an interest in such debt security and
receives a principal payment on it. In particular, the fund will be required to
allocate that principal payment first to a portion of the market discount on the
debt security that has accrued but has not previously been includable in income.
In general, the amount of market discount that must be included for each period
is equal to the lesser of (i) the amount of market discount accruing during such
period (plus any accrued market discount for prior periods not previously taken
into account) or (ii) the amount of the principal payment with respect to such
period. Generally, market discount accrues on a daily basis for each day the
debt security is held by a fund at a constant rate over the time remaining to
the debt security's maturity or, at the election of the fund, at a constant
yield to maturity which takes into account the semi-annual compounding of
interest. Gain realized on the disposition of a market discount obligation must
be recognized as ordinary income (not capital gain) to the extent of the
"accrued market discount", which will flow-through the Fund and to shareholders
when distributed.

Original Issue Discount -- Certain debt securities acquired by a fund may be
treated as debt securities that were originally issued at a discount. Very
generally, original issue discount is defined as the difference between the
price at which a security was issued and its stated redemption price at
maturity. Although no cash income on account of such discount is actually
received by a fund, original issue discount that accrues on a debt security in a
given year generally is treated for federal income tax purposes as interest and,
therefore, such income would be subject to the distribution requirements
applicable to regulated investment companies. Therefore, the amount of ordinary
income the Fund may have to distribute would increase.

Some debt securities may be purchased by the funds at a discount that exceeds
the original issue discount on such debt securities, if any. This additional
discount represents market discount for federal income tax purposes (see above).

Constructive Sales -- These rules may affect timing and character of gain if a
fund engages in transactions that reduce or eliminate its risk of loss with
respect to appreciated financial positions. If a fund enters into certain
transactions in property while holding substantially identical property, the
fund would be treated as if it had sold and immediately repurchased the property
and would be taxed on any gain (but not loss) from the constructive sale. The
character of gain from a constructive sale would depend upon the Funds' holding
period in the property. Loss from a constructive sale


                                       26



would be recognized when the property was subsequently disposed of, and its
character would depend on the Funds' holding period and the application of
various loss deferral provisions of the Code.

Foreign Taxation -- Income received by a fund from sources within a foreign
country may be subject to withholding and other taxes imposed by that country.
Tax conventions between certain countries and the U.S. may reduce or eliminate
such taxes.

The payment of such taxes will ultimately reduce the amount of dividends and
distributions paid to the Funds' shareholders.

Foreign Currency Transactions -- Under the Code, gains or losses attributable to
fluctuations in exchange rates which occur between the time that a fund accrues
income or other receivables or accrues expenses or other liabilities denominated
in a foreign currency and the time that the fund actually collects such
receivables or pays such liabilities, generally are treated as ordinary income
or ordinary loss. Similarly, on disposition of debt securities denominated in a
foreign currency and on disposition of certain futures contracts, forward
contracts and options, gains or losses attributable to fluctuations in the value
of foreign currency between the date of acquisition of the security or contract
and the date of disposition also are treated as ordinary gain or loss. These
gains or losses, referred to under the Code as "Section 988" gains or losses,
may increase or decrease the amount of a Fund's investment company taxable
income to be distributed to its shareholders as ordinary income which may
increase the Funds' investment company taxable income to be distributed to it's
shareholders as ordinary income.

Backup Withholding -- A Fund may be required to withhold U.S. Federal income tax
at the rate of 28% of all amounts deemed to be distributed The 28% rate applies
to shareholders receiving payments who:

a.   fail to provide a Fund with their correct taxpayer identification number,

b.   fail to make required certifications or,

c.   have been notified by the Internal Revenue Service that they are subject to
     backup withholding.

Backup withholding is not an additional tax. Any amounts withheld will be
credited against a shareholder's U.S. Federal income tax liability. Corporate
shareholders and certain other shareholders are exempt from such backup
withholding

Taxation of Non. U.S. Shareholders Dividends from investment company taxable
income attributable to the Funds' taxable year beginning before January 1, 2005
or after December 31, 2007 and paid to a shareholder who, as to the United
States, is a nonresident alien individual, nonresident alien fiduciary of a
trust or estate, foreign corporation or foreign partnership ("foreign
shareholder") may be subject to a 30% withholding tax unless the applicable tax
rate is reduced by a treaty between the United States and the shareholder's
country of residence. Dividends from investment company taxable income
attributable to the Funds' taxable year beginning after December 31, 2004 or
before January 1, 2008 that are attributable to short-term capital gains or
"qualified interest income" may not be subject to withholding tax, provided that
the Fund elects to follow certain procedures. A Fund may choose to not follow
such procedures and there can be no assurance as to the amount, if any, of
dividends that would not be subject to withholding. Withholding does not apply
to a dividend paid to a foreign shareholder that is "effectively connected with
the shareholder's conduct of a trade or business within the United States," in
which case the withholding requirements applicable to domestic taxpayers apply.

The treatment of income dividends and capital gains distributions by a Fund to
shareholders under the various state income tax laws may not parallel that under
the federal law. Qualification as a regulated investment company does not
involve supervision of the Funds' management or of its investment policies and
practices by any governmental authority.

Shareholders are urged to consult their own tax advisors with specific reference
to their own tax situations, including their state and local tax liabilities.
Note that the 15% rate of tax applicable to certain dividends (discussed above)
does not apply to dividends paid to foreign shareholders.

                             PRINCIPAL SHAREHOLDERS

The Funds have not yet commenced operations and there were no outstanding shares
as of the date of this SAI.


                                       27



                                  MISCELLANEOUS

ORGANIZATION

Each Fund is a series of Transamerica IDEX, a Delaware statutory trust that
currently is governed by a Declaration of Trust ("Declaration of Trust") dated
as of February 25, 2005.

TA IDEX held a special meeting of shareholders on February 25, 2005 for the
purposes of approving, among other things, reorganizing TA IDEX from a
Massachusetts business trust to a Delaware statutory trust. The shareholders of
TA IDEX approved this reorganization, funds that have been formed as part of the
Delaware statutory trust and which are identical to the then-current funds,
assumed the assets and liabilities of the then-current funds and the Delaware
statutory trust assumed the registration statement of the Massachusetts business
trust.

SHARES OF BENEFICIAL INTEREST

The Declaration of Trust permits Transamerica IDEX to issue an unlimited number
of shares of beneficial interest. Shares of Transamerica IDEX are fully paid and
nonassessable when issued. Shares of Transamerica IDEX have no preemptive,
cumulative voting, conversion or subscription rights. Shares of Transamerica
IDEX are fully transferable but Transamerica IDEX is not bound to recognize any
transfer until it is recorded on the books.

The Declaration of Trust provides that each of the Trustees will continue in
office until the termination of TA IDEX or his earlier death, resignation,
bankruptcy or removal. Vacancies may be filled by a majority of the remaining
trustees, subject to certain limitations imposed by the 1940 Act. Therefore, it
is not anticipated that annual or regular meetings of shareholders normally will
be held, unless otherwise required by the Declaration of Trust or the 1940 Act.
Subject to the foregoing, shareholders have the power to vote for the election
and removal of trustees, to terminate or reorganize Transamerica IDEX, to amend
the Declaration of Trust, on whether to bring certain derivative actions and on
any other matters on which a shareholder vote is required by the 1940 Act, the
Declaration of Trust, the Transamerica IDEX bylaws, or at the request of the
Trustees.

INDEPENDENT REGISTERED CERTIFIED PUBLIC ACCOUNTING FIRM

PricewaterhouseCoopers LLP located at 101 East Kennedy Boulevard, Suite 150
Tampa, FL 33602-51470 serves as independent registered certified public
accounting firm for Transamerica IDEX.

CODES OF ETHICS

Transamerica IDEX, TFAI, the Portfolio Construction Manager and AFSG each have
adopted a code of ethics, as required by applicable law, which is designed to
prevent affiliated persons of Transamerica IDEX, TFAI, the Portfolio
Construction Manager and AFSG from engaging in deceptive, manipulative, or
fraudulent activities in connection with securities held or to be acquired by a
Fund (which may also be held by persons subject to a code). There can be no
assurance that the codes will be effective in preventing such activities.

PROXY VOTING POLICIES AND PROCEDURES

As detailed in the Transamerica IDEX Proxy Voting Policies and Procedures below,
Transamerica IDEX uses the proxy voting policies and procedures of the adviser
and/or sub-advisers to determine how to vote proxies relating to securities held
by the Transamerica IDEX funds. The proxy voting policies and procedures of TFAI
are attached hereto as Appendix B.

Transamerica IDEX files SEC Form N-PX, with the complete proxy voting records of
the funds for the 12 months ended June 30th, no later than August 31st of each
year. The Form is available without charge: (1) from Transamerica IDEX, upon
request by calling 1-888-233-4339; and (2) on the SEC's website at www.sec.gov.


                                       28


TRANSAMERICA IDEX PROXY VOTING POLICIES AND PROCEDURES - ADOPTED EFFECTIVE JUNE
10, 2003.

I. STATEMENT OF PRINCIPLE

Transamerica IDEX seeks to assure that proxies received by the funds are voted
in the best interests of the funds' stockholders and have accordingly adopted
these procedures.

II. DELEGATION OF PROXY VOTING/ADOPTION OF ADVISER AND SUB-ADVISER POLICIES

Each fund delegates the authority to vote proxies related to portfolio
securities to Transamerica Fund Advisors, Inc. (the "Adviser"), as investment
adviser to Transamerica IDEX, which in turn delegates proxy voting authority for
most portfolios of Transamerica IDEX to the sub-adviser retained to provide
day-to-day portfolio management for that fund. The Board of Trustees of
Transamerica IDEX adopts the proxy voting policies and procedures of the adviser
and sub-advisers as the proxy voting policies and procedures that will be used
by each of these respective entities when exercising voting authority on behalf
of Transamerica IDEX.

III. PROXY COMMITTEE

The Board of Trustees of Transamerica IDEX has appointed a committee of the
Board (the "Proxy Committee") for the purpose of providing the funds' consent to
vote in matters where the adviser or sub-adviser seeks such consent because of a
conflict of interest that arises in connection with a particular vote, or for
other reasons. The Proxy Committee also may review the adviser's and each
sub-adviser's proxy voting policies and procedures in lieu of submission of the
policies and procedures to the entire Board for approval.

IV. ANNUAL REVIEW OF PROXY VOTING POLICIES OF ADVISER AND SUB-ADVISERS

The Board of Trustees of Transamerica IDEX or the Proxy Committee of
Transamerica IDEX will review on an annual basis the proxy voting policies of
the adviser and sub-advisers applicable to Transamerica IDEX.

                             PERFORMANCE INFORMATION

AVERAGE ANNUAL TOTAL RETURN QUOTATION

Quotations of average annual total return for a particular class of shares of a
Fund will be expressed in terms of the average annual compounded rate of return
of a hypothetical investment in the Fund over periods of 1, 5, and 10 years.
These are the average annual compounded rates of return that would equate the
initial amount invested to the ending redeemable value. These rates of return
are calculated pursuant to the following formula:

                                 P(1 + T)n = ERV

Where:

       P = a hypothetical initial payment of $1,000,
       T = the average annual total return,
       n = the number of years, and
     ERV = the ending redeemable value of a hypothetical $1,000 payment made at
           the beginning of the period.

AVERAGE ANNUAL TOTAL RETURN (AFTER TAXES ON DISTRIBUTIONS) QUOTATION

A Fund may, from time to time, include "total return after taxes on
distributions" in advertisements or reports to shareholders or prospective
investors. Quotations of average annual total return after taxes on
distributions will be expressed in terms of the average annual compounded rate
of return of a hypothetical investment in the Fund over periods of 1, 5 and 10
years (up to the life of the Fund), calculated pursuant to the following formula
which is prescribed by the SEC:


                                       29



                              P(1 + T)(n) = ATV(D)

Where:

          P = a hypothetical initial payment of $1,000,
          T = the average annual total return (after taxes on distributions),
        (n) = the number of years, and
     ATV(D) = ending value of a hypothetical $1,000 payment made at the
              beginning of the 1-, 5-, or 10-year periods (or fractional
              portion), after taxes on fund distributions but not after taxes
              on redemptions.

All total return figures assume that all dividends are reinvested when paid.
Taxes are calculated using the highest individual marginal federal income tax
rates in effect on the reinvestment date. The rates used correspond to the
character of each component of the distributions (e.g., ordinary income rate for
ordinary income distributions, short-term capital gain rate for short-term
capital gain distributions, and long-term capital gain rate for long-term
capital gain distributions). The calculations do not consider any potential tax
liabilities other than federal tax liability.

From time to time, a Fund may advertise its average annual total return over
various periods of time. These total return figures show the average percentage
change in value of an investment in the Fund from the beginning date of the
measuring period. These figures reflect changes in the price of the Funds'
shares and assume that any income dividends and/or capital gains distributions
made by the Fund during the period were reinvested in shares of the Fund.
Figures will be given for one, five and ten year periods (if applicable) and may
be given for other periods as well (such as from commencement of the Funds'
operations, or on a year-by-year basis).

AVERAGE ANNUAL TOTAL RETURN (AFTER TAXES ON DISTRIBUTIONS AND REDEMPTION)
QUOTATION

A Fund may, from time to time, include "total return after taxes on
distributions and redemption" in advertisements or reports to shareholders or
prospective investors. Quotations of average annual total return after taxes on
distributions and redemption will be expressed in terms of the average annual
compounded rate of return of a hypothetical investment in the Fund over periods
of 1, 5 and 10 years (up to the life of the Fund), calculated pursuant to the
following formula which is prescribed by the SEC:

                              P(1 + T)(n) = ATV(DR)

Where:

           P = a hypothetical initial payment of $1,000,
           T = the average annual total return (after taxes on distributions),
         (n) = the number of years, and
     ATV(DR) = ending value of a hypothetical $1,000 payment made at the
               beginning of the 1-, 5-, or 10-year periods (or fractional
               portion),  after taxes on fund distributions
               and redemption.

All total return figures assume that all dividends are reinvested when paid.
Taxes are calculated using the highest individual marginal federal income tax
rates in effect on the reinvestment date. The rates used correspond to the
character of each component of the distributions (e.g., ordinary income rate for
ordinary income distributions, short-term capital gain rate for short-term
capital gain distributions, and long-term capital gain rate for long-term
capital gain distributions). The ending value is determined by subtracting
capital gain taxes resulting from the redemption and adding the tax benefit from
capital losses resulting from the redemption. The calculations do not consider
any potential tax liabilities other than federal tax liability.

From time to time, a Fund may advertise its average annual total return over
various periods of time. These total return figures show the average percentage
change in value of an investment in the Fund from the beginning date of the
measuring period. These figures reflect changes in the price of the Funds'
shares and assume that any income dividends and/or capital gains distributions
made by the Fund during the period were reinvested in shares of the Fund.
Figures will be given for one, five and ten year periods (if applicable) and may
be given for other periods as well (such as from commencement of the Funds'
operations, or on a year-by-year basis).


                                       30



                              FINANCIAL STATEMENTS

Because the Fund has not commenced operations as of the date of this SAI, there
are no financial statements to include in the SAI. Audited financial statements
for the Fund, when available, will be incorporated by reference from the
Transamerica IDEX Annual Report to be dated October 31, 2006.


                                       31



                                   APPENDIX A

                          PORTFOLIO MANAGER INFORMATION

OTHER ACCOUNTS MANAGED BY THE PORTFOLIO MANAGER

TA IDEX OPPENHEIMER SMALL- & MID-CAP VALUE

As of June 30, 2006, John Damian, portfolio manager of the fund, also
managed _____ registered investment accounts with assets of approximately $_____
million, _____pooled accounts with assets of approximately $_____ million, and
_____other accounts with assets of approximately $_____ million. _____of these
have an advisory fee based on the performance of the account becuase the fund
had not yet commenced.

As of June 30, 2006, Chris Leavy, portfolio manager of the fund, also
managed _____ registered investment accounts with assets of approximately $_____
million, _____pooled accounts with assets of approximately $_____ million, and
_____other accounts with assets of approximately $_____ million. _____of these
have an advisory fee based on the performance of the account becuase the
fund had not yet commenced.

CONFLICTS OF INTEREST

COMPENSATION

As of June 30, 2006, the portfolio manager did not beneficially own any
equity securities in the fund.

TA IDEX BJURMAN, BARRY MICRO EMERGING GROWTH

As of June 30, 2006, O. Thomas Barry, III, portfolio manager of the fund,
also managed _____ registered investment accounts with assets of approximately
$_____ million, _____pooled accounts with assets of approximately $_____
million, and _____other accounts with assets of approximately $_____ million.
_____of these have an advisory fee based on the performance of the account.

CONFLICTS OF INTEREST

COMPENSATION

As of June 30, 2006, the portfolio manager did not beneficially own any
equity securities in the fund becuase the fund had not yet commenced.


                                       A-1



                                   APPENDIX B

                      PROXY VOTING POLICIES AND PROCEDURES

TRANSAMERICA FUND ADVISORS, INC.

PROXY VOTING POLICIES AND PROCEDURES ("TFAI PROXY POLICY")

PURPOSE. The TFAI Proxy Policy is adopted in accordance with Rule 206(4)-6 under
the Investment Advisers Act of 1940 (the "Advisers Act") and TFAI's fiduciary
and other duties to its clients. The purpose of the TFAI Proxy Policy is to
ensure that where TFAI exercises proxy voting authority with respect to client
securities it does so in the best interests of the client, and that Sub-Advisers
(as defined below) to TFAI clients exercise voting authority with respect to
TFAI client securities in accordance with policies and procedures adopted by the
Sub-Advisers under Rule 206(4)-6 and approved by the TFAI client.

TFAI'S ADVISORY ACTIVITIES. TFAI acts as investment adviser to Transamerica IDEX
Mutual Funds, Transamerica Income Shares, Inc., Transamerica Index Funds, Inc.
and AEGON/Transamerica Series Fund, Inc. (collectively, the "Funds"). For most
of the investment portfolios comprising the Funds, TFAI has delegated day-to-day
management of the portfolio, including the authority to buy, sell, or hold
securities in the portfolio and to exercise proxy voting authority with respect
to those securities, to one or more investment sub-advisers, pursuant to
sub-advisory agreements entered into between TFAI and each sub-adviser (each, a
"Sub-Adviser" and collectively, the "Sub-Advisers") and approved by the Board of
Trustees/Directors/Managers of the client Fund (the "Board"). TFAI serves as a
"manager of managers" with respect to the Sub-Advisers and monitors their
activities in accordance with the terms of an exemptive order granted by the
Securities and Exchange Commission (Release No. IC-23379, August 5, 1998).

SUMMARY OF THE TFAI PROXY POLICY. TFAI delegates the responsibility to exercise
voting authority with respect to securities held in the Funds' portfolios for
which one or more Sub-Advisers has been retained to the Sub-Adviser(s) for each
such portfolio, in accordance with each applicable Sub-Adviser Proxy Policy (as
defined below). TFAI will collect and review each Sub-Adviser Proxy Policy,
together with a certification from the Sub-Adviser that the Sub-Adviser Proxy
Policy complies with Rule 206(4)-6, and submit these materials to the Board for
approval. In the event that TFAI is called upon to exercise voting authority
with respect to client securities, TFAI generally will vote in accordance with
the recommendation of Institutional Shareholder Services, Inc. ("ISS") or
another qualified independent third party, except that if TFAI believes the
recommendation would not be in the best interest of the relevant portfolio and
its shareholders, TFAI will consult the Board of the relevant Fund (or a
Committee of the Board) and vote in accordance with instructions from the Board
or Committee.

DELEGATION OF PROXY VOTING AUTHORITY TO SUB-ADVISERS. TFAI delegates to each
Sub-Adviser the responsibility to exercise voting authority with respect to
securities held by the portfolio(s), or portion thereof, managed by the
Sub-Adviser. Each Sub-Adviser is responsible for monitoring, evaluating and
voting on all proxy matters with regard to investments the Sub-Adviser manages
for the Funds in accordance with the Sub-Adviser's proxy voting policies and
procedures adopted to comply with Rule 206(4)-6 (each, a "Sub-Adviser Proxy
Policy" and collectively, the "Sub-Adviser Proxy Policies").

ADMINISTRATION, REVIEW AND SUBMISSION TO BOARD OF SUB-ADVISER PROXY POLICIES -
APPOINTMENT OF PROXY ADMINISTRATOR. TFAI will appoint an officer to be
responsible for collecting and reviewing the Sub-Adviser Proxy Policies and
carrying out the other duties set forth herein (the "Proxy Administrator").

INITIAL REVIEW. On or before July 1, 2003, the Proxy Administrator will collect
from each Sub-Adviser:

- -    its Sub-Adviser Proxy Policy;

- -    a certification from the Sub-Adviser that (i) its Sub-Adviser Proxy Policy
     is reasonably designed to ensure that the Sub-Adviser votes client
     securities in the best interest of clients, and that the Sub-Adviser Proxy
     Policy includes an explanation of how the Sub-Adviser addresses material
     conflicts that may arise between the Sub-Adviser's interests


                                       B-1



     and those of its clients, (ii) the Sub-Adviser Proxy Policy has been
     adopted in accordance with Rule 206(4)-6, and (iii) the Sub-Adviser Proxy
     Policy complies the terms of Rule 206(4)-6; and

- -    a summary of the Sub-Adviser Proxy Policy suitable for inclusion in the
     client Funds' registration statement, in compliance with Item 13(f) of Form
     N-1A, and a certification to that effect.

- -    The Proxy Administrator will review each Sub-Adviser Proxy Policy with a
     view to TFAI making a recommendation to the Board. In conducting its
     review, TFAI recognizes that the Securities and Exchange Commission has not
     adopted specific policies or procedures for advisers, or provided a list of
     approved procedures, but has left advisers the flexibility to craft
     policies and procedures suitable to their business and the nature of the
     conflicts they may face. As a consequence, Sub-Adviser Proxy Policies are
     likely to differ widely. Accordingly, the Proxy Administrator's review of
     the Sub-Adviser Proxy Policies will be limited to addressing the following
     matters:

     -    whether the Sub-Adviser Proxy Policy provides that the Sub-Adviser
          votes solely in the best interests of clients;

     -    whether the Sub-Adviser Proxy Policy includes a description of how the
          Sub-Adviser addresses material conflicts of interest that may arise
          between the Sub-Adviser or its affiliates and its clients; and

     -    whether the Sub-Adviser Proxy Policy includes both general policies
          and procedures as well as policies with respect to specific types of
          issues (for this purpose general policies include any delegation to a
          third party, policies relating to matters that may substantially
          affect the rights or privileges of security holders, and policies
          regarding the extent of weight given to the view of the portfolio
          company management; specific issues include corporate governance
          matters, changes to capital structure, stock option plans and other
          management compensation issues, and social corporate responsibility
          issues, among others).

- -    The Proxy Administrator will review the certification provided pursuant to
     paragraph 1(b) above for completeness, and will review the summary provided
     pursuant to paragraph 1(c) above for compliance with the requirements of
     Form N-1A.

- -    TFAI will provide to the Board (or a Board Committee), the materials
     referred to in Section V.B.1. and a recommendation pursuant to the Proxy
     Administrator's review of the Sub-Adviser Proxy Policy provided for in
     Section V.B.2.

- -    TFAI will follow the same procedure in connection with the engagement of
     any new Sub-Adviser.

- -    Subsequent Review

- -    TFAI will request that each Sub-Adviser provide TFAI with prompt notice of
     any material change in its Sub-Adviser Proxy Policy. TFAI will report any
     such changes at the next quarterly Board meeting of the applicable Fund. No
     less frequently than once each calendar year, TFAI will request that each
     Sub-Adviser provide TFAI with its current Sub-Adviser Proxy Policy, or
     certify that there have been no material changes to its Sub-Adviser Proxy
     Policy or that all material changes have been previously provided for
     review by TFAI and approval by the relevant Board(s), and that the
     Sub-Adviser Proxy Policy continues to comply with Rule 206(4)-6.

RECORD OF PROXY VOTES EXERCISED BY SUB-ADVISER. The Proxy Administrator, or a
third party as permitted by regulations issued by the Securities and Exchange
Commission (such as ISS), will maintain a record of any proxy votes (including
the information called for in Items 1(a) through (i) of Form N-PX) exercised by
the Sub-Adviser on behalf of a portfolio of the Funds. The Proxy Administrator,
or a third party as permitted by regulations issued by the Securities and
Exchange Commission (such as ISS), will maintain a complete proxy voting record
with respect to each Fund. If TFAI utilizes the services of a third party for
maintaining the records above specified, TFAI shall obtain an undertaking from
the third party that it will provide the records promptly upon request.

TFAI EXERCISE OF PROXY VOTING AUTHORITY - USE OF INDEPENDENT THIRD PARTY. If
TFAI is called upon to exercise voting authority on behalf of a Fund client,
TFAI will vote in accordance with the recommendations of ISS or another
qualified independent third party (the "Independent Third Party"), provided that
TFAI agrees that the voting recommendation issued by the Independent Third Party
reflects the best interests of the relevant portfolio and its shareholders.


                                       B-2



CONFLICT WITH VIEW OF INDEPENDENT THIRD PARTY. If, in its review of the
Independent Third Party recommendation, TFAI believes that the recommendation is
not in the best interests of the Fund client, TFAI will submit to the Board (or
a Board Committee) its reasons for disagreeing with the Independent Third Party,
as well as full disclosure of any conflict of interest between TFAI or its
affiliates and the Fund in connection with the vote, and seek consent of the
Board (or Committee) with respect to TFAI's proposed vote.

ASSET ALLOCATION PORTFOLIOS. For any asset allocation portfolio managed by TFAI
and operated, in whole or in part, as a "fund of funds", TFAI will vote proxies
in accordance with the recommendations of the Board(s) of the Fund(s). If any
such asset allocation portfolio holds shares of a registered investment company
that is not a portfolio of a Fund, TFAI will seek Board (or Committee) consent
with respect to TFAI's proposed vote in accordance with the provisions of
Section VI.B.

CONFLICTS OF INTEREST BETWEEN TFAI OR ITS AFFILIATES AND THE FUNDS. The TFAI
Proxy Voting Policy addresses material conflicts that may arise between TFAI or
its affiliates and the Funds by, in every case where TFAI exercises voting
discretion, either (i) providing for voting in accordance with the
recommendation of the Independent Third Party or Board(s); or (ii) obtaining the
consent of the Board (or a Board Committee) with full disclosure of the
conflict.

RECORDKEEPING - RECORDS GENERALLY MAINTAINED. In accordance with Rule
204-2(c)(2) under the Advisers Act, the Proxy Administrator shall cause TFAI to
maintain the following records:

- -    the TFAI Proxy Voting Policy; and

- -    records of Fund client requests for TFAI proxy voting information.

RECORDS FOR TFAI EXERCISE OF PROXY VOTING AUTHORITY. In accordance with Rule
204-2(c)(2) under the Advisers Act, if TFAI exercises proxy voting authority
pursuant to Section VI above, TFAI, or a third party as permitted by regulations
issued by the Securities and Exchange Commission (such as ISS), shall make and
maintain the following records:

- -    proxy statements received regarding matters it has voted on behalf of Fund
     clients;

- -    records of votes cast by TFAI; and

- -    copies of any documents created by TFAI that were material to deciding how
     to vote proxies on behalf of Fund clients or that memorialize the basis for
     such a decision.

If TFAI utilizes the services of a third party for maintaining the records above
specified, TFAI shall obtain an undertaking from the third party that it will
provide the records promptly upon request.

RECORDS PERTAINING TO SUB-ADVISER PROXY POLICIES. The Proxy Administrator will
cause TFAI and/or a third party as permitted by regulations issued by the
Securities and Exchange Commission (such as ISS), to maintain the following
records:

- -    each Sub-Adviser Proxy Policy; and

- -    the materials delineated in Article V above.

If TFAI utilizes the services of a third party for maintaining the records above
specified, TFAI shall obtain an undertaking from the third party that it will
provide the records promptly upon request.

TIME PERIODS FOR RECORD RETENTION. All books and records required to maintain
under this Section VIII will be maintained in an easily accessible place for a
period of not less than five years from the end of the fiscal year during which
the last entry was made on the record, the first two years in an appropriate
office of TFAI.

PROVISION OF TFAI PROXY POLICY TO FUND CLIENTS. The Proxy Administrator will
provide each Funds' Board (or a Board Committee) a copy of the TFAI Proxy Policy
at least once each calendar year.


                                       B-3


                         TRANSAMERICA IDEX MUTUAL FUNDS

                                OTHER INFORMATION
                                     PART C

ITEM 23 EXHIBITS

List all exhibits filed as part of the Registration Statement.

     (a)  Declaration of Trust (25)

     (b)  Bylaws (25)

     (c)  Not Applicable

     (d)  (1)  Investment Advisory Agreements

               (aa) TA IDEX Janus Growth (4)

               (bb) TA IDEX Transamerica Flexible Income (19)

               (cc) TA IDEX Jennison Growth (28)

               (dd) TA IDEX Transamerica Value Balanced (13)

               (ee) TA IDEX Transamerica High-Yield Bond (28)

               (ff) TA IDEX T. Rowe Price Tax-Efficient Growth, TA IDEX Salomon
                    All Cap and TA IDEX T. Rowe Price Small Cap (4)

               (gg) TA IDEX Transamerica Growth Opportunities and TA IDEX
                    Transamerica Equity (6)

               (hh) TA IDEX Great Companies - America(SM) and TA IDEX Great
                    Companies- Technology(SM) (28)

               (ii) TA IDEX Templeton Great Companies Global (22)

               (jj) TA IDEX American Century International and TA IDEX American
                    Century Large Company Value (9)

               (kk) TA IDEX Transamerica Money Market, TA IDEX Transamerica
                    Convertible Securities, TA IDEX PIMCO Total Return, TA IDEX
                    Asset Allocation - Conservative Portfolio, TA IDEX Asset
                    Allocation - Moderate Portfolio, TA IDEX Asset Allocation -
                    Growth Portfolio, TA IDEX Asset Allocation - Moderate Growth
                    Portfolio, TA IDEX Multi-Manager International Fund and TA
                    IDEX Evergreen Health Care (formerly TA IDEX T. Rowe Price
                    Health Sciences) (28)

               (ll) TA IDEX Marsico Growth (15)

               (mm) TA IDEX Clarion Global Real Estate Securities and TA IDEX
                    PIMCO Real Return TIPS (28)

               (nn) TA IDEX Transamerica Small/Mid Cap Value (19)

               (oo) TA IDEX Transamerica Balanced (22)

               (pp) TA IDEX J.P. Morgan Mid Cap Value, TA IDEX Marsico
                    International Growth, TA IDEX Mercury Large Cap Value, TA
                    IDEX T. Rowe Price Equity Income, TA IDEX Transamerica
                    Short-Term Bond, TA IDEX UBS Large Cap Value, TA IDEX Van
                    Kampen Emerging Markets Debt, TA IDEX Van Kampen Small
                    Company Growth, TA IDEX Evergreen International Small Cap
                    (28)

               (qq) TA IDEX Protected Principal Stock (13)

               (rr) TA IDEX AllianceBernstein International Value, TA IDEX
                    Neuberger Berman International, TA IDEX Oppenheimer
                    Developing Markets, TA IDEX JPMorgan International Bond, TA
                    IDEX Federated Market Opportunity, and TA IDEX Mercury
                    Global Allocation (26)

               (ss) TA IDEX Van Kampen Mid-Cap Growth (27)

               (tt) TA IDEX Salomon Investors Value (3)

               (uu) TA IDEX Bjurman, Barry Micro Emerging Growth (29)

               (vv) TA IDEX Oppenheimer Small- & Mid-Cap Value (29)

          (2)  Sub-Advisory Agreements

               (aa) TA IDEX Janus Growth (12)

               (bb) TA IDEX Transamerica Flexible Income (19)

               (cc) TA IDEX Transamerica Value Balanced (13)



               (dd) TA IDEX Transamerica High-Yield Bond (28)

               (ee) TA IDEX T. Rowe Price Tax-Efficient Growth and TA IDEX T.
                    Rowe Price Small Cap (4)

               (ff) TA IDEX Salomon All Cap (28)

               (gg) TA IDEX Transamerica Growth Opportunities and TA IDEX
                    Transamerica Equity (6)

               (hh) TA IDEX Great Companies - America(SM) and TA IDEX Great
                    Companies - Technology(SM) (28)

               (ii) TA IDEX Templeton Great Companies Global (22)

               (jj) TA IDEX American Century International and TA IDEX American
                    Century Large Company Value (9)

               (kk) TA IDEX Jennison Growth (28)

               (ll) TA IDEX Transamerica Convertible Securities and TA IDEX
                    Transamerica Money Market (12)

               (mm) TA IDEX PIMCO Total Return (12)

               (nn) TA IDEX Evergreen Health Care (formerly, TA IDEX T. Rowe
                    Price Health Sciences) (28)

               (oo) TA IDEX Salomon Investors Value (28)

               (pp) TA IDEX Marsico Growth (17)

               (qq) TA IDEX Clarion Global Real Estate Securities (28)

               (rr) TA IDEX PIMCO Real Return TIPS (16)

               (ss) TA IDEX Transamerica Small/Mid Cap Value (19)

               (tt) TA IDEX Transamerica Balanced (22)

               (uu) TA IDEX Evergreen International Small Cap (23)

               (vv) TA IDEX J.P. Morgan Mid Cap Value (23)

               (ww) TA IDEX Marsico International Growth (23)

               (xx) TA IDEX Mercury Large Cap Value (23)

               (yy) TA IDEX Transamerica Short-Term Bond (23)

               (zz) TA IDEX UBS Large Cap Value (28)

               (aaa) TA IDEX Van Kampen Emerging Markets Debt and TA IDEX Van
                    Kampen Small Company Growth (27)

               (bbb) TA IDEX Protected Principal Stock (28)

               (ccc) TA IDEX AllianceBernstein International Value (28)

               (ddd) TA IDEX Neuberger Berman International (26)

               (eee) TA IDEX Oppenheimer Developing Markets (26)

               (fff) TA IDEX JPMorgan International Bond (26)

               (ggg) TA IDEX Federated Market Opportunity (26)

               (hhh) TA IDEX Mercury Global Allocation (26)

               (iii) TA IDEX Van Kampen Mid-Cap Growth (27)

               (jjj) TA IDEX Asset Allocation - Conservative Portfolio, TA IDEX
                    Asset Allocation - Moderate Portfolio, TA IDEX Asset
                    Allocation - Growth Portfolio, TA IDEX Asset Allocation -
                    Moderate Growth Portfolio and TA IDEX Multi-Manager
                    International Fund -Morningstar Asset Allocation Management
                    Agreement (28)

               (kkk) TA IDEX Oppenheimer Small- & Mid-Cap Value (29)

               (lll) TA IDEX Bjurman, Barry Micro Emerging Growth Equity (29)

     (e)  (1)  Underwriting Agreement (Schedule I) (16)

          (2)  Dealer's Sales Agreement (15)

          (3)  Service Agreement (5)

          (4)  Wholesaler's Agreement (3)

     (f)  Trustees Deferred Compensation Plan (2)

     (g)  Custody Agreement (14)

     (h)  (1)  (a)  Transfer Agency Agreement (1)

               (b)  Amendment to Transfer Agency Agreement (24)

               (2)  (a)  Administrative Services Agreement (14)

                    (b)  Amendment to Administrative Services Agreement (24)

               (3)  Expense Limitation Agreement (16)

               (4)  Consulting Agreement (19)



     (i)  Opinion of Counsel (29)

     (j)  (a)  Opinion of Auditor (29)

     (k)  Financial Statements - AEGON/Transamerica Fund Services, Inc. (now
          known as Transamerica Fund Advisors, Inc.) (28)

     (l)  Investment Letter from Sole Shareholder (2)

     (m)  (1)  Plan of Distribution under Rule 12b-1 - Class A/B Shares (all
               funds) (19)

          (2)  Plan of Distribution under Rule 12b-1 - Class C Shares (19)

               (aa) TA IDEX Janus Growth (5)

               (bb) TA IDEX Salomon Investors Value (5)

               (cc) TA IDEX Transamerica Value Balanced (5)

               (dd) TA IDEX Transamerica Balanced (5)

               (ee)) TA IDEX Transamerica Flexible Income (19)

               (ff) TA IDEX Transamerica High-Yield Bond (5)

               (gg) TA IDEX Marsico Growth (5)

               (hh) TA IDEX T. Rowe Price Tax-Efficient Growth (5)

               (ii) TA IDEX Salomon All Cap (5)

               (jj) TA IDEX T. Rowe Price Small Cap (5)

               (kk) TA IDEX Jennison Growth (3)

               (ll) TA IDEX Transamerica Growth Opportunities and TA IDEX
                    Transamerica Equity (6)

               (mm) TA IDEX Great Companies - America(SM) and TA IDEX Great
                    Companies - Technology(SM) (7)

               (nn) TA IDEX Templeton Great Companies Global (8)

               (oo) TA IDEX American Century International and TA IDEX American
                    Century Large Company Value (9)

               (pp) Amendment to Plan of Distribution under Rule 12b-1 - Class C
                    Shares (11)

               (qq) TA IDEX Transamerica Convertible Securities, TA IDEX
                    Transamerica Money Market, TA IDEX PIMCO Total Return, TA
                    IDEX Evergreen Health Care (formerly, TA IDEX T. Rowe Price
                    Health Sciences) (12)

               (rr) TA IDEX Transamerica Small/Mid Cap Value (19)

               (ss) TA IDEX Protected Principal Stock (13)

          (3)  Plan of Distribution under Rule 12b-1 - Class M Shares (TA IDEX
               Protected Principal Stock) (26)

     (n)  Amended and Restated Plan for Multiple Classes of Shares (12)

     (o)  Reserved

     (p)  Code of Ethics

          (1)  Transamerica IDEX Mutual Funds (28)

          (2)  Transamerica Fund Advisors, Inc. (28)

          SUB-ADVISERS

          (3)  AEGON USA Investment Management, LLC (28)

          (4)  Federated Equity Management Company of Pennsylvania (28)

          (5)  Janus Capital Management, LLC (28)

          (6)  Salomon Brothers Asset Management Inc (28)

          (7)  Transamerica Investment Management, LLC (28)

          (8)  T. Rowe Price Associates, Inc. (28)

          (9)  Great Companies, L.L.C. (28)

          (10) Jennison Associates LLC (28)

          (11) American Century Investment Management, Inc. (28)

          (12) Pacific Investment Management Company LLC (28)

          (13) Columbia Management Advisors, LLC (formerly, Banc of America
               Capital Management, LLC) (28)



          (14) ING Clarion Real Estate Securities (28)

          (15) Templeton Investment Counsel, LLC (28)

          (16) Evergreen Investment Management Company, LLC (28)

          (17) J.P. Morgan Investment Management Inc. (28)

          (18) Fund Asset Management, L.P., dba Mercury Advisors (28)

          (19  UBS Global Asset Management (Americas) Inc. (28)

          (20) Morgan Stanley Investment Management Inc. (28)

          (21) Gateway Investment Advisers, Inc. (28)

          (22) American Century Global Investment, Inc. (28)

          (23) Alliance Capital Management LP (28)

          (24) Neuberger Berman Management (26) LP (28)

          (25) Oppenheimer Funds, Inc. LP (28)

          (26) Morningstar Associates, LLC (28)

          (27) Bjurman, Barry & Associates (29)

All exhibits filed previously are herein incorporated by reference

(1)  Filed previously with Post-Effective Amendment No. 20 to Registration
     Statement filed on November 16, 1995 (File No. 33-2659).

(2)  Filed previously with Post-Effective Amendment No. 24 to Registration
     Statement filed on November 15, 1996 (File No. 33-2659).

(3)  Filed previously with Post-Effective Amendment No. 25 to Registration
     Statement filed on January 31, 1997 (File No. 33-2659).

(4)  Filed previously with Post-Effective Amendment No. 29 to Registration
     Statement filed on December 15, 1998 (File No. 33-2659).

(5)  Filed previously with Post-Effective Amendment No. 31 to Registration
     Statement filed on September 2, 1999 (File No. 33-2659).

(6)  Filed previously with Post-Effective Amendment No. 33 to Registration
     Statement filed on December 17, 1999 (File No. 33-2659).

(7)  Filed previously with Post-Effective Amendment No. 35 to Registration
     Statement filed on March 31, 2000 (File No. 33-2659).

(8)  Filed previously with Post-Effective Amendment No. 37 to Registration
     Statement filed on June 16, 2000 (File No. 33-2659).

(9)  Filed previously with Post-Effective Amendment No. 41 to Registration
     Statement on December 15, 2000 (File No. 33-2659).

(10) Filed previously with American Century [California] Tax Free & Municipal
     Funds Post-Effective Amendment No. 30 to the Registration Statement filed
     on December 29, 2000, and incorporated herein by reference (File No.
     002-82734).

(11) Filed previously with Post-Effective Amendment No. 42 to Registration
     Statement on March 1, 2001 (File No. 33-2659).

(12) Filed previously with Post-Effective Amendment No. 43 to Registration
     Statement on December 17, 2001 (File No. 33-2659).

(13) Filed previously with Post-Effective Amendment No. 47 to Registration
     Statement on March 29, 2002 (File No. 33-2659).

(14) Filed previously with Post-Effective Amendment No. 49 to Registration
     Statement on September 12, 2002 (File No. 33-2659).

(15) Filed previously with Post-Effective Amendment No. 50 to Registration
     Statement on November 12, 2002 (File No. 33-2659).

(16) Filed previously with Post-Effective Amendment No. 51 to Registration
     Statement on December 13, 2002 (File No. 33-2659).

(17) Filed previously with Post-Effective Amendment No. 52 to Registration
     Statement on February 28, 2003 (File No. 33-2659).

(18) Filed previously with Post-Effective Amendment No. 54 to Registration
     Statement on December 31, 2003 (File No. 33-2659).

(19) Filed previously with Post-Effective Amendment No. 56 to Registration
     Statement on March 1, 2004 (File No. 33-2659).

(20) Filed previously with AEGON/Transamerica Series Fund, Inc. Post-Effective
     Amendment No. 50 to Registration Statement on April 30, 2002, and
     incorporated herein by reference (File No. 811-4419).


(21) Filed previously with AEGON/Transamerica Series Fund, Inc. Post-Effective
     Amendment No. 56 to Registration Statement on February 28, 2003, and
     incorporated herein by reference (File No. 811-4419).

(22) Filed previously with Post-Effective Amendment No. 61 to Registration
     Statement on October 1, 2004 (File No. 33-2659).

(23) Filed previously with Post-Effective Amendment No. 63 to Registration
     Statement on November 2, 2004 (File No. 33-2659).

(24) Filed previously with Post-Effective Amendment No. 67 to Registration
     Statement on February 25, 2005 (File No. 33-2659).

(25) Filed previously with Post-Effective Amendment No. 69 to Registration
     Statement on May 27, 2005 (File No. 33-2659).

(26) Filed previously with Post-Effective Amendment No. 72 to Registration
     Statement on November 7, 2005 (File No. 33-2659).

(27) Filed previously with Post-Effective Amendment No. 75 to Registration
     Statement on December 30, 2005 (File No. 33-2659).

(28) Filed previously with Post-Effective Amendment No. 77 to Registration
     Statement on March 1, 2006 (File No. 33-2659).

(29) To be filed by amendment.

ITEM 24 PERSONS CONTROLLED BY OR UNDER COMMON CONTROL WITH THE FUND

     To the knowledge of the Registrant, neither the Registrant nor any Series
thereof is controlled by or under common control with any other person. The
Registrant has no subsidiaries.

ITEM 25 INDEMNIFICATION

     Provisions relating to indemnification of the Registrant's Trustees and
employees are included in Registrant's Restatement of Declaration of Trust and
Bylaws which are incorporated herein by reference.

     Insofar as indemnification for liability arising under the Securities Act
of 1933 may be permitted to Trustees, officers and controlling persons, or
otherwise, Registrant has been advised that in the opinion of the Commission
such indemnification may be against public policy as expressed in the Act and
may be, therefore, unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by Registrant of expenses
incurred or paid by a Trustee, officer or controlling person of Registrant in
the successful defense of any action, suit or proceeding) is asserted by such
Trustee, officer or controlling person in connection with the securities being
registered, Registrant will, unless in the opinion of its counsel the matter has
been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public
policy as expressed in the Act and will be governed by the final adjudication of
such issue.

ITEM 26 BUSINESS AND OTHER CONNECTIONS OF INVESTMENT ADVISERS

Transamerica Fund Advisors, Inc. ("TFAI") is principally engaged in offering
investment advisory services. The only businesses, professions, vocations or
employments of a substantial nature of Christopher A. Staples, Brian C. Scott
and John K. Carter, directors of TFAI, are described in the Statement of
Additional Information under the section entitled "Management of the Fund."
Additionally, the following describes the principal occupations of other persons
who serve as executive officers of TFAI: Carol A. Sterlacci, Vice President and
Treasurer of Transamerica Fund Services, Inc. and other related entities.

                                      * * *



Janus Capital Management LLC ("Janus"), 151 Detroit Street, Denver, Colorado
80206-4928, serves as sub-adviser to TA IDEX Janus Growth. Janus also serves as
sub-adviser to certain of the mutual funds within AEGON/Transamerica Series
Trust and as investment adviser or sub-adviser to other mutual funds, and for
private and retirement accounts.

     John H. Bluher, Executive Vice President, Secretary and Chief Public
Affairs Officer; Bonnie M. Howe, Vice President and Assistant General Counsel;
Kelley Abbott Howes, Senior Vice President and General Counsel; Steven L.
Scheid, Chief Executive Officer; David R. Kowalski, Senior Vice President of
Compliance and Chief Compliance Officer; Robin C. Beery, Executive Vice
President and Chief Marketing Officer; James P. Goff, Vice President and
Director of Research; Edward F. Keely, Vice President; Karen L. Reidy, Vice
President; Jonathan D. Coleman, Vice President; Ronald V. Speaker, Vice
President; David J. Corkins, Vice President; Girard C. Miller, Executive Vice
President and Chief Operating Officer; William H. Bales, Vice President; David
C. Decker, Vice President; Mike Lu, Vice President; Brent A. Lynn, Vice
President; Thomas R. Malley, Vice President; Sharon S. Pichler, Vice President;
E. Marc Pinto, Vice President; Blaine P. Rollins, Vice President; Ron Sachs,
Vice President; Scott W. Schoelzel, Vice President; J. Eric Thorderson, Vice
President; Darrell W. Watters, Vice President; Jason Yee, Vice President;
Stephen H. Belgrad, Senior Vice President of Finance and Strategy, and
Treasurer; Matthew R. Luorma, Vice President-Taxation; Gregory A. Frost, Senior
Vice President and Controller; Nigel J. Austin, Vice President of International
Funds and General Counsel; Curt R. Foust, Vice President, Assistant Secretary
and Assistant General Counsel; Kevin Lindsell, Vice President of Corporate Risk
Management; Peter Boucher, Senior Vice President of Human Resources; Russell P.
Shipman, Senior Vice President of Institutional Services; Ken E. Paieski, Vice
President and Director of Separate Account Services; Jane C. Ingalls, Senior
Vice President, Corporate Communications; Andrea J. Young, Senior Vice
President, Information Technology; Douglas J. Laird, Vice President, Retail
Services and Operations; Mark Thomas, Vice President; John J. Mari, Vice
President; Blair E. Johnson, Vice President; Gary D. Black, Chief Investment
Officer and President; John Zimmerman, Executive Vice President; Erich Gerth,
Senior Vice President and Managing Director of Janus Global Adviser; Richard
Gibson Smith, Vice President; Minyoung Sohn, Vice President; Claire Young
Stilwell, Vice President; Jack Swift, Vice President of Institutional Investment
Services; David R. Martin, Executive Vice President and Chief Financial Officer;
Jesper Nergaard, Vice President of Investment Accounting; Dominic C. Martellano,
Executive Vice President; Robert Watson, Senior Vice President; and James Yount,
Senior Vice President.

                                      * * *

     Jennison Associates, LLC ("Jennison"), the sub-adviser to TA IDEX Jennison
Growth, is a direct wholly-owned subsidiary of Prudential Investment Management,
Inc., which is a direct, wholly-owned subsidiary of Prudential Asset Management
Holding Company, which is a direct, wholly-owned subsidiary of Prudential
Financial Inc. Jennison provides investment supervisory services to its clients,
which are comprised primarily of qualified and non-qualified plans, foundations,
endowments, mutual funds, private investment companies and other institutional
clients.

     The business and other connections of Jennison Associates LLC's directors
and principal executive officers are set forth below. Except as otherwise
indicated, the address of each person is 466 Lexington Avenue, New York, New
York 10017.



NAME AND ADDRESS                   Principal Occupation
- ----------------                   --------------------
                                
Dennis M. Kass                     Director, Chairman and Chief Executive
                                   Officer, Jennison. Chairman and Manager,
                                   Quantitative Management Associates LLC
                                   ("QM"). Director and Vice President,
                                   Prudential Investment Management, Inc.
                                   ("PIM"). Signatory Second Vice President, The
                                   Prudential Insurance Company of America
                                   ("PICA").

Spiros Segalas                     Director, President and Chief Investment
                                   Officer, Jennison.

Ronald K. Andrews                  Director, Jennison. Senior Vice President,
Gateway Center Three, 15th Floor   Prudential Investments LLC. Senior Vice
100 Mulberry Street                President, American Skandia Investment
Newark, New Jersey 07102           Services, Incorporated. Senior Vice
                                   President, American Skandia Advisory
                                   Services, Inc. Manager, QM.






NAME AND ADDRESS                   Principal Occupation
- ----------------                   --------------------
                                
Timothy J. Knierim                 Director, Jennison. Assistant Secretary, PIM
Gateway Center Two, 6th Floor      Warehouse, Inc. ("PIMW"). Corporate
100 Mulberry Street                Secretary, Pramerica Financial Asia Limited.
Newark, New Jersey 07102           Secretary and Vice President, Residential
                                   Information Services, Inc. Vice President,
                                   PIM. Manager, QM.

Bernard B. Winograd                Director, Jennison. Director, Chief Executive
Gateway Center Three, 15th Floor   Officer and President, PIM. Director and Vice
100 Mulberry Street                President, Prudential Asset Management
Newark, New Jersey 07102           Holding Company. Director and Chairman, PIMW.
                                   Director and Chairman, PIC Holdings Limited.
                                   Executive Vice President, Prudential
                                   Investment Management Services LLC. Director
                                   and President, PIM Investments, Inc.
                                   President, PIM Foreign Investments, Inc.
                                   Signatory Second Vice President, PICA.
                                   Manager, QM.

Mirry M. Hwang                     Secretary, Vice President and Corporate
                                   Counsel, Jennison.

Kenneth Moore                      Treasurer, Senior Vice President and Chief
                                   Financial Officer, Jennison. Chief Financial
                                   Officer, Manager and Vice President, QM. Vice
                                   President, PIM. Director, Prudential Trust
                                   Company ("PTC"). Signatory Second Vice
                                   President, PICA.

Blair A. Boyer                     Executive Vice President, Jennison.

David Chan                         Executive Vice President, Jennison.

Michael A. Del Balso               Executive Vice President, Jennison. Vice
                                   President, PTC.

Thomas F. Doyle                    Executive Vice President, Jennison.
1000 Winter Street, Suite 4900
Waltham, Massachusetts 02154

Daniel J. Duane                    Executive Vice President, Jennison. Vice
                                   President, PTC.

Scott L. Hayward                   Executive Vice President, Jennison. Vice
                                   President, PIM. Vice President, QM. Signatory
                                   Second Vice President, PICA.

Susan F. Hirsch                    Executive Vice President, Jennison.

David A. Kiefer                    Executive Vice President, Jennison. Vice
                                   President, PTC.

Jonathan R. Longley                Executive Vice President, Jennison.
1000 Winter Street, Suite 4900
Waltham, Massachusetts 02154

Mehdi A. Mahmud                    Executive Vice President, Jennison. Vice
                                   President, QM.

Kathleen A. McCarragher            Executive Vice President, Jennison. Vice
                                   President, PTC.

Thomas G. Wolfe                    Executive Vice President, Jennison.

Andrew Goldberg                    Senior Vice President, Jennison. Vice
                                   President, QM. Signatory Second Vice
                                   President, PICA.

Leslie S. Rolison                  Senior Vice President, Jennison.


                                      * * *

Salomon Brothers Asset Management Inc ("SaBAM"), 399 Park Avenue, New York, New
York, 10022, serves as sub-adviser to TA IDEX Salomon All Cap and TA IDEX
Salomon Investors Value. The directors and officers are as follows: Virgil H.
Cumming, Member of the Board of Directors and Managing Director of Citigroup
Global Markets Inc.; Peter J. Wilby, Member of the Board of Directors and
Managing Director of SaBAM; Evan L. Melberg, Member of the Board of Directors
and Managing Director of SaBAM; Michael F. Rosenbaum, Chief Legal Officer and
General Counsel of Citigroup Asset Management; Jeffrey S. Scott, Compliance
Officer.


                                      * * *

T. Rowe Price Associates, Inc., ("T. Rowe") 100 East Pratt Street, Baltimore,
Maryland 21202 serves as sub-adviser to TA IDEX T. Rowe Price Tax-Efficient
Growth and TA IDEX T. Rowe Price Small Cap. Directors of T. Rowe are : Edward C.
Bernard; James A.C. Kennedy; William T. Reynolds; James S. Riepe; George A.
Roche; and David Testa.

                                      * * *

Transamerica Investment Management, LLC, ("TIM") 1150 South Olive Street, Suite
2700, Los Angeles, California 90015, serves as sub-adviser to TA IDEX
Transamerica Growth Opportunities, TA IDEX Transamerica Small/Mid Cap Value, TA
IDEX Transamerica Flexible Income, TA IDEX Transamerica Balanced, TA IDEX
Transamerica Equity, TA IDEX Transamerica Convertible Securities, TA IDEX
Transamerica Value Balanced, TA IDEX Transamerica Short-Term Bond and TA IDEX
Transamerica Money Market. The officers are Gary U. Rolle', Principal, Managing
Director and Chief Investment Officer; John C. Riazzi, Principal Managing
Director and Chief Executive Officer; Michelle E. Stevens, Principal, Managing
Director and Portfolio Manager; Heidi Y. Hu, Head of Fixed-Income Investments,
Principal, Managing Director and Portfolio Manager; David W. Lubchenco,
Principal and Managing Director; Glenn C. Weirick, Principal, Managing Director
and Portfolio Manager; Bradley C. Slocum, Principal and Managing Director; Larry
Norman, President and Chief Executive Officer of AEGON USA, Inc.; and Paula
Nelsen, Chief Executive Officer of Transamerica. and Ray Ferrara, Manager, also
serves as President, CEO of ProVise Management, a non-affiliated investment
adviser.

                                      * * *

     Great Companies, L.L.C. ("Great Companies"), 635 Court Street, Clearwater,
Florida 33756, serves as sub-adviser to TA IDEX Great Companies - America(SM)
and TA IDEX Great Companies - Technology(SM), and as co-sub-adviser to TA IDEX
Templeton Great Companies Global. John R. Kenney, Member and Manager, serves as
Chairman and Co-CEO. James Hare Huguet, Member and Manager, serves as President,
Co-CEO and Chief Investment Officer.; Thomas R. Moriarty, Manager, also serves
as Chairman, Director and Co-President of InterSecurities, Inc.; Vice President
of AFSG Securities Corp.; and Vice President of Western Reserve Life Assurance
Co. of Ohio; John C. Riazzi, Manager, also serves as CEO of Transamerica
Investment Management, LLC ("TIM"), an affiliated Investment Adviser of Great
Companies, LLC; and Ray Ferrara, Manager, also serves as President and CEO of
ProVise Management, a non-affiliated investment adviser.

                                      * * *

     Templeton Investment Counsel, LLC ("Templeton"), One Franklin Parkway, San
Mateo, California 94403-1906, serves as co-sub-adviser to TA IDEX Templeton
Great Companies Global. The executive officers of Templeton are as follows:
Donald F. Reed, CEO; Gary P. Motyl, President; Martin L. Flanagan, Executive
Vice President & COO; Gregory E. McGowan, Executive Vice President; Mark R.
Beveridge, Sr. Vice President & Portfolio Manager - Research Analyst; Tracy A.
Harrington, Sr. Vice President - Institutional Marketing Support; William
Howard, Executive Vice President & Portfolio Manager - Research Analyst; Charles
R. Hutchens, Sr. Vice President & Director Client Services; Peter A. Nori,
Executive. Vice President & Director of Research; Cindy L. Sweeting, Executive.
Vice President & Director of Research; Edgerton T. Scott, Sr. Vice President;
Michael J. Corcoran, Vice President & Controller; Peter D. Anderson, Sr. Vice
President - Institutional Marketing; Guang Yang, Sr. Vice President; Barbara J.
Green, Secretary.

                                      * * *

     Federated Equity Management Company of Pennsylvania ("Federated"),
Federated Investors Tower, Pittsburgh, PA 15222-3779, serves as co-sub-adviser
to TA IDEX Federated Market Opportunity. It is a subsidiary of Federated
Investors, Inc.

Federated serves as investment adviser to a number of investment companies and
private accounts. Total assets under management by Federated and other
subsidiaries of Federated Investors, Inc. is approximately $198 billion. The
Trustees of Federated, their position with Federated, and, in parenthesis, their
principal occupations are as follows: J. Christopher Donahue, Trustee and
Chairman (Chief Executive Officer and Trustee, Federated Investors, Inc.;
Chairman and Director, Federated Investment Management Company, Federated
Advisory Services Company, Federated Global Investment Management Corp.;
Chairman, Passport Research, Ltd.; Trustee, Federated Investment Counseling,
Federated Asset Management GmbH (Germany), Federated International Holdings BV
(The Netherlands), Federated International



Management Limited (Ireland) and Federated Shareholder Services Company;
Director, Federated Services Company); Keith M. Schappert, Trustee, Chief
Executive Officer and President (Trustee, Chief Executive Officer and President
of Federated Investment Management Company, Federated Advisory Services Company,
Federated Global Investment Management Corp.; Trustee and President - Investment
Research, Federated Investment Counseling; Chief Executive Officer and
President, Passport Research, Ltd.); Thomas R. Donahue, Trustee and Treasurer
(Trustee, Vice President, Chief Financial Officer and Treasurer, Federated
Investors, Inc.; Trustee and Treasurer, Federated Investment Management Company,
Federated Advisory Services Company, Federated Investment Counseling, Federated
Administrative Services, Inc., Federated Global Investment Management Corp.,
Federated Investors Trust Company, Federated Services Company and Federated
Shareholder Services Company; Trustee and Executive Vice President, Federated
Securities Corp.; Director and President, FII Holdings, Inc.; Treasurer,
Federated Administrative Services and Passport Research, Ltd.); Stephen F. Auth,
Executive Vice President (Executive Vice President, Federated Advisory Services
Company, Federated Global Investment Management Corp. and Federated Investment
Counseling); Mark D. Olson, Trustee (Trustee, Federated Investment Management
Company, Federated Advisory Services Company, Federated Investment Counseling,
Federated Shareholder Services Company; Partner, Wilson, Halbrook & Bavard, 107
W. Market Street, Georgetown, Delaware 19947). The business address of the
Trustees, with the exception of Mark D. Olson, is Federated Investors Tower,
Pittsburgh, PA 15222-3779.

     The remaining Officer of Federated is Secretary and Vice President: G.
Andrew Bonnewell.

     The business address of each of the Officers of Federated is Federated
Investors Tower, Pittsburgh, PA 15222-3779. These individuals are also officers
of some of the investment advisers to other mutual funds.

                                      * * *

     American Century Investment Management, Inc. ("American Century"), 4500
Main Street, Kansas City, Missouri 64111, serves as sub-adviser to TA IDEX
American Century Large Company Value. James Evans Stowers, Jr. is Chairman of
the Board; James Evans Stowers, III is Co-Chairman of the Board; William
McClellan Lyons is President, Chief Executive Officer and Director; Robert T.
Jackson is Executive Vice President and Chief Financial Officer; David H.
Reinmiller is Chief Compliance Officer; David C. Tucker is Chief Legal Officer
and Senior Vice President; William E. Koehler is Vice President and Investment
Liaison; John A. Lopez is Senior Vice President; Mark L. Mallon is Chief
Investment Officer and Senior Vice President.

                                      * * *

     American Century Global Investment Management, Inc. ("ACGIM"), The Chrysler
Building, 666 3rd Avenue, 23rd Floor, New York, New York 10017, serves as
sub-adviser to TA IDEX American Century International. James Evans Stowers, Jr.
is Chairman of the Board; James Evans Stowers, III is Co-Chairman of the Board;
William McClellan Lyons is President, Chief Executive Officer and Director;
Robert T. Jackson is Executive Vice President and Chief Financial Officer; David
H. Reinmiller is Chief Compliance Officer; David C. Tucker is Chief Legal
Officer and Senior Vice President; William E. Koehler is Vice President and
Investment Liaison; John A. Lopez is Senior Vice President; Mark L. Mallon is
Chief Investment Officer and Senior Vice President.

                                      * * *

     Pacific Investment Management Company LLC ("PIMCO"), 840 Newport Center
Drive, Suite 300, Newport Beach, California 92660, serves as sub-adviser to TA
IDEX PIMCO Total Return and TA IDEX PIMCO Real Return TIPS. PIMCO is located at
840 Newport Center Drive, Suite 300, Newport Beach, California 92660. Officers
and Executive Officers of PIMCO are as follows: Tammie J. Arnold, William R.
Benz, John B. Brynjolfsson, Wendy W. Cupps, Chris P. Dialynas, Mohamed A.
El-Erian, William H. Gross (EC), Pasi M. Hamalainen, Brent R. Harris (EC),
Douglas M. Hodge (Tokyo), Brent L. Holden (EC), Margaret E. Isberg, James M.
Keller, Raymond G. Kennedy, John S. Loftus, Sudesh N. Mariappa, Scott A. Mather
(Munich), Paul A. McCulley, Joseph McDevitt (London), James F. Muzzy, Mohan V.
Phansalkar, William F. Podlich (Consulting), William C. Powers (EC), Ernest L.
Schmider, W. Scott Simon, William S. Thompson (EC), Richard M. Weil (EC),
Changhong Zhu; William S. Thompson, Chief Executive Officer; William H. Gross,
Chief Investment Officer; John C. Maney, Chief Financial Officer; Mohan V.
Phansalkar, Chief Legal Officer; Richard M. Weil, Chief Operating Officer;
Denise C. Seliga, Chief Compliance Officer; R. Wesley Burns, Director.

EC = Executive Committee of PIMCO



                                      * * *

AEGON USA Investment Management LLC ("AUIM"), 4333 Edgewood Road NE, Cedar
Rapids, Iowa 52499, serves as sub-adviser to TA IDEX Transamerica High-Yield
Bond. Its managers and officers are:

MANAGERS:
     Eric B. Goodman
     Brenda K. Clancy
     Craig D. Vermie

OFFICERS:
     Eric B. Goodman, President & Chief Investment Officer
     Kirk W. Buese, Executive Vice President - Private Finance
     Frank E. Collecchia, Executive Vice President-Portfolio Management
     Daniel P. Fox, Executive Vice President - Risk Management
     David R. Ludke, Executive Vice President
     Mark J. Zinkula, Executive Vice President - Public Fixed Income
     David M. Carney, Senior Vice President and Chief Financial Officer
     Bradley J. Beman, Senior Vice President
     John T. Bender, Senior Vice President
     Joel L. Coleman, Senior Vice President
     Mark E. Dunn, Senior Vice President
     David R. Halfpap, Senior Vice President
     William L. Hurwitz, Senior Vice President
     Steven P. Opp, Senior Vice President
     Sarvjeev S. Sidhu, Senior Vice President
     Michael B. Simpson, Senior Vice President
     Jon L. Skaggs, Senior Vice President
     Robert A. Smedley, Senior Vice President
     Josh E. Braverman, Vice President
     Ashok K. Chawla, Vice President
     Jeffrey D. Coil, Vice President
     Garry E. Creed, Vice President
     Douglas A. Dean, Vice President
     Mark D. Evans, Vice President
     Robert Fitzsimmons, Vice President
     Robert L. Hansen, Vice President
     Jon D. Kettering, Vice President
     James R. Landis, Vice President
     Jeffrey T. McGlaun, Vice President
     Michael J. Parrish, Vice President
     Stephanie M. Phelps, Vice President
     Boning Tong, Vice President
     Michael A. Urban, Vice President
     Xueqing Wang, Vice President
     Jeffrey A. Whitehead, Vice President
     Karen R. Wright, Vice President
     M. Christina Galligan, Assistant Vice President
     Karen E. Hufnagel, Assistant Vice President
     Michael N. Meese, Assistant Vice President
     Mary T. Pech, Assistant Vice President
     Paul J. Houk, General Counsel and Secretary
     Clint L. Woods, Assistant Secretary
     Clifton W. Flenniken III, Assistant Treasurer
     Daniel Seward, Assistant Treasurer
     Stephanie Steele, Assistant Treasurer

                                      * * *



     Columbia Management Advisors, LLC (formerly, Banc of America Capital LLC)
("CMA"), 100 Federal Street, Boston, MA 02110, serves as sub-adviser to TA IDEX
Marsico Growth and TA IDEX Marsico International Growth. Keith T. Banks,
Chairman, President, Chief Executive Officer, Chief Investment Officer and
Manager; Roger A. Sayler, Managing Director and Manager; Linda J. Wondrack,
Chief Compliance Officer; Andrei G. Magasiner, Chief Financial Officer.

                                      * * *

     ING Clarion Real Estate Securities ("Clarion"), 259 North Radnor-Chester
Road, Suite 205, Radnor, PA 19087, serves as sub-adviser for TA IDEX Clarion
Global Real Estate Securities. Its officers are: Ritson T. Ferguson, Executive
Officer/Chief Investment Officer; Jarrett B. Kling, Executive Officer; Stephen
J. Furnary, Executive Officer; Charles Grossman, Executive Officer; G. Stephen
Cordes, Executive Officer and Jeffrey A. Barclay, Executive Officer.

                                      * * *

     Fund Asset Management L.P., doing business as Mercury Advisors ("Mercury"),
serves as sub-adviser to TA IDEX Mercury Large Cap Value and TA IDEX Mercury
Global Allocation. Mercury is located at 800 Scudders Mill Road, Plainsboro, NJ
08536. Robert C. Doll, President, Chief Investment Officer; Anthony J. Patti,
Head - Americas Risk and Performance; Thomas J. Verage, Managing Director,
Equity Investments; Brian J. Fullerton, Head of Investments; Kenneth A. Jacob,
Co-Head - Tax-Exempt Investments; John M. Loffredo, Co-Head - Tax-Exempt
Investments; Brian A. Murdock, First Vice President and Chief Operating Officer
of Americas Region; Donald C. Burke, Treasurer; Andrew J. Donahue, Chief Legal
Officer; Jay L. Willoughby, CIO - Private Investors; Archie J. Struthers, Head -
Managed Account Team of Private Investors.

                                      * * *

     Gateway Investment Advisers, L.P. ("Gateway"), 3805 Edwards Road, Suite
600, Cincinnati, Ohio 45209, serves as sub-adviser to TA IDEX Protected
Principal Stock. Walter G. Sall is Chairman and Chief Executive Officer; J.
Patrick Rogers is President and Chief Investment Officer; Harry E. Merriken III,
is Senior Vice President; Geoffrey Keenan is Chief Operating Officer and
Executive Vice President; Paul R. Stewart is Senior Vice President; Donna M.
Squeri is General Counsel, Chief Compliance Officer, and Secretary; Gary H.
Goldschmidt is Chief Financial Officer; and Nelson C. Bickel is Chief
Information Officer and Vice President.

                                      * * *

     Morgan Stanley Investment Management ("Morgan Stanley") serves as
sub-adviser to TA IDEX Van Kampen Emerging Markets Debt, TA IDEX Van Kampen
Small Company Growth and TA IDEX Van Kampen Mid Cap Growth. Morgan Stanley
serves as investment adviser to a number of investment companies. The executive
officers of the sub-adviser are: Mitchell M. Merin, Chairman, President, Chief
Executive Officer and Director of the sub-adviser, and Van Kampen; A. Thomas
Smith III, Managing Director and a Director of the sub-adviser, VK Adviser and
Van Kampen; David M. Swanson, Chief Operating Officer and Director of the
sub-adviser, Van Kampen; Joseph J. McAlinden, Managing Director and Chief
Investment Officer of the sub-adviser and Van Kampen; John L. Sullivan, Managing
Director and Director of the sub-adviser and Van Kampen; Edward C. Wood, III,
Managing Director and Chief Administrative Officer of the sub-adviser and Van
Kampen; Alexander C. Frank, Treasurer of the sub-adviser and Van Kampen; Walter
E. Rein, Executive Director and Chief Financial Officer of the sub-adviser and
Van Kampen; Stefanie Chang Yu, Secretary of the sub-adviser and Van Kampen. All
of these executive officers have no substantial business, profession, vocation
or employment other than their positions with the sub-adviser, its subsidiaries
and affiliates. The business address of Messrs. Rein, Sullivan, Swanson and Wood
is 1 Parkview Plaza, P.O. Box 5555, Oakbrook Terrace, Illinois 60181 - 5555. The
address of Messrs. Merin, McAlinden, Smith and Ms. Chang Yu is 1221 Avenue of
the Americas, New York, NY 10020. The address of Mr. Frank is 750 7th Avenue,
New York, NY 10019.

                                      * * *

     J.P. Morgan Investment Management Inc. ("J.P. Morgan") serves as
sub-adviser to TA IDEX J.P. Morgan Mid Cap Value and JPMorgan International
Bond. J.P. Morgan is a wholly-owned subsidiary of JPMorgan Chase & Co. J.P.
Morgan provides investment management and related services for corporate, public
and union employee benefit funds, foundations, endowments, insurance companies
and government agencies.



     The directors and principal officers of J.P. Morgan are listed below.
Unless otherwise indicated, each director and officer has a principal business
address of 522 Fifth Avenue, New York, NY 10036: Evelyn V. Guernsey, Managing
Director, Director and President; George C.W. Gatch, Director, Managing
Director; Lawrence Unrein, Director, Managing Director; Anthony M. Roberts,
Managing Director, Head of Legal; Seth P. Bernstein, Managing Director, Global
Head of Fixed Income; Martin R. Porter, Managing Director, Global Head of
Equities; Andrew Spencer, Managing Director, Chief Investment Officer of U.S.
Retail Business; Francis X. Curley, Managing Director, Chief Compliance Officer;
Clive S. Brown, Director; Iiman A. Pappas, Managing Director, Treasurer.

                                      * * *

     Evergreen Investment Management Company, LLC ("Evergreen"), is sub-adviser
to TA IDEX Evergreen International Small Cap and TA IDEX Evergreen Health Care.
The officers and directors are Laurence B. Ashkin (68), 180 East Pearson Street,
Chicago, IL-Trustee/Director. Real estate developer and construction consultant
since 1980; President of Centrum Equities since 1987 and Centrum Properties,
Inc. since 1980. Foster Bam (69), Greenwich Plaza, Greenwich,
CT-Trustee/Director. Partner in the law firm of Cummings and Lockwood since
1968. James S. Howell (72), 4124 Crossgate Road, Charlotte, NC-Chairman and
Trustee/Director. Retired Vice President of Lance Inc. (food manufacturing);
Chairman of the Distribution Comm. Foundation for the Carolinas from 1989 to
1993. Gerald M. McDonnell (57), 209 East Nucor Rd. Norfolk, NE,
NC-Trustee/Director. Sales Representative with Nucor-Yamoto Inc. (steel
producer) since 1988. Thomas L. McVerry (58), 4419 Parkview Drive, Charlotte,
NC-Trustee/Director. Director of Carolina Cooperative Federal Credit Union since
1990 and Rexham Corporation from 1988 to 1990; Vice President of Rexham
Industries, Inc. (diversified manufacturer) from 1989 to 1990; Vice
President-Finance and Resources, Rexham Corporation from 1979 to 1990. William
Walt Pettit*(41), Holcomb and Pettit, P.A., 227 West Trade St., Charlotte,
NC-Trustee/Director. Partner in the law firm Holcomb and Pettit, P.A. since
1990; Attorney, Clontz and Clontz from 1980 to 1990. Russell A. Salton, III,
M.D. (49) 205 Regency Executive Park, Charlotte, NC-Trustee/Director. Medical
Director, U.S. Healthcare of Charlotte, NC since 1995, President, Primary
Physician Care from 1990 to 1996. Michael S. Scofield (53), 212 S. Tryon Street,
Suite 1280, Charlotte, NC-Trustee/Director. Attorney, Law Offices of Michael S.
Scofield since 1969. Robert J. Jeffries (73), 2118 New Bedford Drive, Sun City
Center, FL-Trustee/Director Emeritus. Corporate consultant since 1967. John J.
Pileggi, 237 Park Avenue, Suite 910, New York, NY-President and Treasurer.
Senior Managing Director, Furman Selz LLC since 1992, Managing Director from
1984 to 1992. Joan V. Fiore (40), 237 Park Avenue, Suite 910, New York, NY
Secretary. Managing Director and Counsel, Furman Selz LLC since 1991; Staff
Attorney, Securities and Exchange Commission from 1986 to 1991.

The officers listed above hold the same positions with thirteen investment
companies offering a total of forty-three investment funds within the Evergreen
mutual fund complex. Messrs. Howell, Salton and Scofield are Trustees/Directors
of all thirteen investment companies. Messrs. McDonnell, McVerry and Pettit are
Trustees/Directors of twelve of the investment companies (excluded is Evergreen
Variable Trust). Messrs. Ashkin and Bam are Trustees/Directors and Mr. Jeffries
is a Trustee/Director Emeritus of eleven of the investment companies (excluded
are Evergreen Variable Trust and Evergreen Investment Trust).

*    Mr. Pettit may be deemed to be an "interested person" within the meaning of
     the Investment Company Act of 1940, as amended (the "1940 Act").

The officers of the Trusts are all officers and/or employees of Furman Selz LLC.
Furman Selz LLC is an affiliate of Evergreen Funds Distributor, Inc., the
distributor of each Class of shares of each Fund.

                                      * * *

     UBS Global Asset Management (Americas) Inc. ("UBS"), One North Wacker
Drive, Chicago, IL 60606, serves as sub-adviser to TA IDEX UBS Large Cap Value.
Kai Reiner Sotorp is President and Director; Mark F. Kemper is Secretary and
Chief Legal Officer; Joseph M. McGill is Chief Compliance Officer; Joseph A
Varnas is Head of Product Technology and Operations; Brian D. Singer is Chief
Investment Officer; and Robert P. Wolfangel is Chief Financial Officer.

                                      * * *

     Alliance Capital Management, LP ("Alliance"), 1345 Avenue of the Americas,
New York, New York 10105, serves as sub-adviser to TA IDEX AllianceBernstein
International Value. Lewis A. Sanders is Vice Chairman and Chief Executive
Officer; Roger Hertog is Vice Chairman and Director; Christopher M. Condron,
Lorie A. Slutsky, Nicolas Moreau, Dominique Carrel-Billiard, Benjamin D.
Holloway, Henri De Castries, Denis Duverne, Stanley B. Tulin, William



Jarmain and Peter J. Tobin are Directors; Gerald M. Lieberman is President,
Chief Operating Officer and Director; Robert H. Joseph, Jr. is Senior Vice
President and Chief Financial Officer; Mark R. Manley is Senior Vice President,
Assistant Secretary and Chief Compliance Officer.

                                      * * *

     Neuberger Berman Management, Inc. ("Neuberger"), 605 Third Avenue, New
York, New York 10158 serves as sub-adviser to TA IDEX Neuberger Berman
International. Philip R. Carroll is Chief Compliance Officer; Peter E. Sundman
is President and Director; Robert Matza, Jeffrey B. Lane and Jack L. Rivkin are
Directors; Robert J. Conti and Brian J. Gaffney are Sr. Vice Presidents; Maxine
L. Gerson is General Counsel and Secretary; Edward S. Grieb is Chief Financial
Officer and Treasurer.

                                      * * *

     OppenheimerFunds ("Oppenheimer"), Two World Financial Center, 225 Liberty
Street, New York, New York 10281, serves as sub-adviser to TA IDEX Oppenheimer
Developing Markets and TA IDEX Oppenheimer Small- & Mid-Cap Value. John V.
Murphy is President, Chief Executive Officer and Director; James H. Ruff,
Michael Baldwin and Craig P. Dinsell are Executive Vice Presidents; Robert G.
Zack is Executive Vice President and General Counsel; Brian W. Wixted is Sr.
Vice President and Treasurer; Kurt J. Wolfgruber is Chief Investment Officer;
David M. Pfeffer is Sr. Vice President and Chief Financial Officer; Mark S.
Vandehey is Sr. Vice President and Chief Compliance Officer.

                                      * * *

     Bjurman, Barry & Associates ("Bjurman,Barry"), 10100 Santa Monica Blvd.,
Ste. 1200, Los Angeles, CA 90067, serves as a sub-adviser to TA IDEX Bjurman,
Barry Micro Emerging Growth. G. Andrew Bjurman, CFA, CIC is President and Chief
Executive Officer; O. Thomas Barry, CFA, CIC is Senior Executive Vice President
and Chief Investment Officer; Stephen W. Shipman, CFA is Executive Vice
President /Director of Research; Patrick T. Bradford, is Assistant Vice
President/Head Equity Trader/Co-Manager; Roberto P. Wu, CFA, is Portfolio
Manager/Research Analyst; and Kathy Pommet is Chief Compliance Offer.

ITEM 27 PRINCIPAL UNDERWRITER

AFSG Securities Corporation

(a) The Registrant has entered into an Underwriting Agreement with AFSG
Securities Corporation ("AFSG"), whose address is 4333 Edgewood Road NE, Cedar
Rapids, Iowa 52494 to act as the principal underwriter of Fund shares.

(b) Directors and Officers of Principal Underwriter



Name                               Positions and Offices with Underwriter          Positions and Offices with Registrant
- ----                               --------------------------------------          -------------------------------------
                                                                             
Larry N. Norman            (1)  Director and President                             N/A

Paula G. Nelson            (5)  Director                                           N/A

Phillip S. Eckman          (5)  Director                                           N/A

Lisa Wachendorf            (1)  Vice President and Chief Compliance Officer        N/A

John K. Carter             (2)  Vice President                                     Senior Vice President, Secretary,
                                                                                   Counsel and Chief Compliance Officer

Michael C. Massrock        (2)  Vice President                                     N/A

Carol A. Sterlacci         (2)  Assistant Controller and Treasurer                 N/A




                                                                             
Frank A. Camp              (1)  Secretary                                          N/A

Teresa L. Stolba           (1)  Assistant Compliance Officer                       N/A

Clifton W. Flenniken III   (4)  Assistant Treasurer                                N/A

Priscilla I. Hechler       (2)  Assistant Vice President and Assistant Secretary   N/A

Darin D. Smith             (1)  Vice President and Assistant Secretary             N/A

Kyle A. Keelan             (1)  Vice President                                     N/A



4333 Edgewood Road, N.E., Cedar Rapids, IA 52499-0001
570 Carillon Parkway, St. Petersburg, FL 33716-1202
400 West Market Street, Louisville, KY 40202
1111 North Charles Street, Baltimore, MD 21201
600 South Highway 169, Suite 1800, Minneapolis, MN 55426

ITEM 28 LOCATION OF ACCOUNTS AND RECORDS

The accounts, books and other documents required to be maintained by Section
31(a) of the 1940 Act and the rules promulgated thereunder are maintained as
follows:

(a)  Shareholder records are maintained by the Registrant's transfer agent,
     Transamerica Fund Services, Inc., P.O. Box 9015, Clearwater, FL 33758-9015.

(b)  All other accounting records of the Registrant are maintained at the
     offices of the Registrant at 570 Carillon Parkway, St. Petersburg, Florida
     33716 and are in the physical possession of the officers of the Fund, or at
     the offices of the Custodian, Investors Bank & Trust Company, 200 Clarendon
     Street, Boston, MA 02116.

ITEM 29 MANAGEMENT SERVICES

The Registrant has no management-related service contract that is not discussed
in Part I of this form. See the section of the Prospectus entitled "Investment
Advisory and Other Services" for a discussion of the management and advisory
services furnished by TFAI, Janus, Jennison, T. Rowe Price, SaBAM, TIM, AUIM,
Great Companies, Federated, Gateway, American Century, ACGIM, Clarion, CMA,
Templeton, PIMCO, Evergreen, J.P. Morgan, Mercury, UBS, Alliance, Neuberger,
Oppenheimer, Bjurman, Barry and Morgan Stanley pursuant to the Investment
Advisory Agreements, the Sub-Advisory Agreements, the Administrative Services
Agreement and the Underwriting Agreement.

ITEM 30 UNDERTAKINGS

     Not applicable



                                   SIGNATURES

     Pursuant to the requirements of the Securities Act of 1933 and the
Investment Company Act of 1940, the Fund Registrant, Transamerica IDEX Mutual
Funds, has duly caused this Post-Effective Amendment No. 78 to its registration
Statement to be signed on its behalf by the undersigned, thereunder duly
authorized, in the City of St.Petersburg, State of Florida, on the 17th, day of
May,

                                        Transamerica IDEX Mutual Funds


                                        By: /s/ Brian C. Scott
                                            ------------------------------------
                                            Brian C. Scott*
                                            President and Chief Executive
                                            Officer

     Pursuant to the requirements of the Securities Act of 1933, this
Post-Effective Amendment No. 78 to its Registration Statement has been signed
below by the following persons in the capacities and on the dates indicated:

                                                  


/s/ Peter R. Brown                Chairman & Trustee    May 17, 2006
- -------------------------------
Peter R. Brown*


/s/ Robert L. Anderson, Ph.D.     Trustee               May 17, 2006
- -------------------------------
Robert L. Anderson, Ph.D.*


/s/ Daniel Calabria               Trustee               May 17, 2006
- -------------------------------
Daniel Calabria*


/s/ Charles C. Harris             Trustee               May 17, 2006
- -------------------------------
Charles C. Harris*


/s/ Jack E. Zimmerman             Trustee               May 17, 2006
- -------------------------------
Jack E. Zimmerman*


/s/ Janice B. Case                Trustee               May 17, 2006
- -------------------------------
Janice B. Case*


/s/ Russell A. Kimball, Jr.       Trustee               May 17, 2006
- -------------------------------
Russell A. Kimball, Jr.*


/s/ Leo J. Hill                   Trustee               May 17, 2006
- -------------------------------
Leo J. Hill*


/s/ William W. Short, Jr.         Trustee               May 17, 2006
- -------------------------------
William W. Short, Jr.*


/s/ John W. Waechter              Trustee               May 17, 2006
- -------------------------------
John W. Waechter*


/s/ Brian C. Scott                President, Chief      May 17, 2006
- -------------------------------   Executive Officer
Brian C. Scott*                   and Trustee


/s/ Glenn E. Brightman            Vice President and    May 17, 2006
- -------------------------------   Principal Financial
Glenn E. Brightman                Officer


/s/ John K. Carter                                      May 17, 2006
- -------------------------------
*Signed by John K. Carter
Attorney in Fact





                                  EXHIBIT INDEX

                      Exhibits will be filed by amendment.