TRANSAMERICA FUNDS

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Transamerica High Yield Bond

Supplement to the Currently Effective Prospectuses and Summary Prospectuses

The following replaces the information in the Prospectuses and Summary Prospectuses for Transamerica High Yield Bond relating to Aegon USA Investment Management, LLC under the section entitled “Management”. Transamerica Asset Management, Inc. continues to serve as the fund’s investment adviser.

Sub-Adviser:	Portfolio Managers:
Aegon USA Investment Management, LLC	Kevin Bakker, CFA, Co-Lead Portfolio Manager since 2015, Portfolio Manager since 2007
	Benjamin D. Miller, CFA, Portfolio Manager since 2006
	James K. Schaeffer, Jr., Co-Lead Portfolio Manager since 2015, Portfolio Manager since 2011

The following replaces the information in the Prospectus relating to Transamerica High Yield Bond under the section entitled “Portfolio Managers”:

Name	Sub-Adviser	Positions Over Past Five Years
Kevin Bakker, CFA	Aegon USA Investment Management, LLC	Co-Lead Portfolio Manager of the fund since 2015; Portfolio Manager of the fund since 2007; Portfolio Manager with Aegon USA Investment Management, LLC since 2007; Senior Research Analyst 2003 - 2007
Benjamin D. Miller, CFA	Aegon USA Investment Management, LLC	Portfolio Manager of the fund since 2006; Portfolio Manager with Aegon USA Investment Management, LLC since 2006; Research Analyst 1993 - 2006
James K. Schaeffer, Jr.	Aegon USA Investment Management, LLC	Co-Lead Portfolio Manager of the fund since 2015; Portfolio Manager of the fund since 2011; Portfolio Manager with Aegon USA Investment Management, LLC since 2004; Director of Distressed Debt since 2004

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Transamerica Tactical Allocation

Transamerica Tactical Income

Transamerica Tactical Rotation

Supplement to the Currently Effective Prospectus and Summary Prospectuses

The following replaces the information in the Retail Prospectus and Summary Prospectuses for Transamerica Tactical Allocation, Transamerica Tactical Income, and Transamerica Tactical Rotation (the “funds”) relating to Aegon USA Investment Management, LLC under the section entitled “Management”. Transamerica Asset Management, Inc. continues to serve as the fund’s investment adviser.

Sub-Adviser:	Portfolio Managers:
Aegon USA Investment Management, LLC	Doug Weih, CFA, Lead Portfolio Manager since 2015
	David Halfpap, CFA, Portfolio Manager since 2012
	Frank Rybinski, CFA, Portfolio Manager since 2012

The following replaces the information in the Prospectus relating to each of the funds under the section entitled “Portfolio Managers”:

Name	Sub-Adviser	Positions Over Past Five Years
Doug Weih, CFA	Aegon USA Investment Management, LLC	Lead Portfolio Manager of the fund since 2015; Portfolio Manager with Aegon USA Investment Management, LLC since 2003; Head of U.S. Public Fixed Income since 2015; Director of Public Securitized Bonds since 2009
David Halfpap, CFA	Aegon USA Investment Management, LLC	Portfolio Manager of the fund since 2012; Portfolio Manager with Aegon USA Investment Management, LLC since 1979; Senior Vice President (1995 – present); Head of Investment Strategy and Co-Head of Global Strategy since 2011; Member of Pension Investment Committee
Frank Rybinski, CFA	Aegon USA Investment Management, LLC	Portfolio Manager of the fund since 2012; Joined Aegon USA Investment Management, LLC in 2008; Portfolio Manager and Credit Strategist; Prior to 2008, Credit Analyst at UBS Investment Bank

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Investors Should Retain this Supplement for Future Reference

February 10, 2015