EX-99.H.2.II 15 d47353dex99h2ii.htm AMENDED SCHEDULES A AND B DATED MARCH 1, 2021 TO AMENDED AND RESTATED EXPENSE Amended Schedules A and B dated March 1, 2021 to Amended and Restated Expense

Exhibit (h)(2)(ii)

AMENDED AND RESTATED EXPENSE LIMITATION AGREEMENT

EXPENSE LIMITATION AGREEMENT, effective as of March 1, 2005, as previously amended, and hereby amended and restated as of March 1, 2021, by and between Transamerica Asset Management, Inc. (the “Investment Manager”), and Transamerica Funds (the “Company”), on behalf of each series of the Company set forth in Schedule A (each a “Fund,” and collectively, the “Funds”).

WHEREAS, the Company is a Delaware statutory trust, and is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management company of the series type, and each Fund is a series of the Company; and

WHEREAS, the Company and the Investment Manager have entered into investment advisory agreements on behalf of the Funds (“Management Agreements”), pursuant to which the Investment Manager provides investment management services to each Fund for compensation based on the value of the average daily net assets of each such Fund; and

WHEREAS, the Company and the Investment Manager have determined that it is appropriate and in the best interests of each Fund and its shareholders to maintain the expenses of each Fund at a level below the level to which each such Fund may normally be subject; and

WHEREAS, the Company and the Investment Manager wish to structure this Expense Limitation Agreement in a manner consistent with the requirements of Revenue Procedure 96-47, 1996-2 CB 338, and Revenue Procedure 99-40, I.R.B. 1999-46, 565 so as to avoid any possibility that any Fund is deemed to have paid a preferential dividend, and in a manner consistent with the SEC’s interpretation of analogous requirements in Rule 18f-3(a) under the 1940 Act;

NOW, THEREFORE, the parties hereto agree as follows:

 

1.

Expense Limitation.

1.1. Applicable Expense Limit. The Investment Manager agrees to reduce the investment management fees payable to it pursuant to the Management Agreements and make payments to the Funds to the extent necessary to limit the ordinary operating expenses incurred by the applicable Class(es) of each Fund in any fiscal year, excluding acquired fund fees and expenses, dividend and interest expenses related to short sales, interest, taxes, brokerage commissions, extraordinary expenses such as litigation, and other expenses not incurred in the ordinary course of such Fund’s business (“Fund Operating Expenses”) to the Operating Expense Limit, as defined in Section 1.2 below. With respect to ClearTrack 2015, ClearTrack 2020, ClearTrack 2025, ClearTrack 2030, ClearTrack 2035, ClearTrack 2040, ClearTrack 2045, ClearTrack 2050, ClearTrack 2055, ClearTrack 2060 and ClearTrack Retirement Income, “Fund Operating Expenses” shall mean the ordinary operating expenses incurred by each Class of each Fund in any fiscal year, excluding dividend and interest expenses related to short sales, interest, taxes, brokerage commissions, extraordinary expenses such as litigation and other expenses not incurred in the ordinary course of such Fund’s business. For each applicable Class of each Fund, any amount of Fund Operating Expenses above the Operating Expense Limit (such excess amount, the “Excess Amount”) shall be the liability of the Investment Manager. 1

1.2. Operating Expense Limit. The “Operating Expense Limit” in any fiscal year with respect to each applicable Class of each Fund shall be the amount specified in Schedule A based on a percentage of the average daily net assets of such Class.

1.3. Duration of Operating Expense Limit. The Operating Expense Limit with respect to each applicable Class of each Fund shall remain in effect until the date specified for that Class on Schedule A. The Investment Manager may extend, but may not during the term of this Agreement shorten, the duration of the Operating Expense Limit for any Class of a Fund by delivering a revised Schedule A to the Company reflecting such extension. Such an extension must continue at the same (or lower) Operating Expense Limit amount specified on Schedule A.

1.4. Method of Computation. This Expense Limitation Agreement shall in all cases be interpreted in a manner consistent with the requirements of Revenue Procedure 96-47, 1996-2 CB 338, and Revenue Procedure 99-40, I.R.B. 1999-46, 565 so as to avoid any possibility that any Fund is deemed to have paid a preferential dividend. In the event of any conflict between any term of this Expense Limitation Agreement and the previous sentence, the previous sentence shall control.

Management fees and other expenses related to the management of the Company’s assets. Each Class of each Fund shall be allocated and shall pay an investment management fee and other fees and expenses related to the management of the

 

1 

Prior to March 1, 2017, Rule 12b-1 fees were excluded from the expense limits.

Fund’s assets (including custodial fees and tax return preparation fees) on the basis of the net asset value of that Class in relation to the net asset value of the Fund. The benefit of a waiver or reimbursement of any management fee and any other fees and expenses related to the management of the Fund’s assets (including custodial fees and tax return preparation fees) shall be allocated to all shares by net asset value, regardless of Class.

Other fees and expenses. Each Class of each Fund may be allocated and may pay a different share of other fees and expenses, not including advisory or custodial fees or other fees and expenses related to the management of the Fund’s assets, if these expenses are actually incurred in a different amount by that Class, or if the Class receives services of a different kind or to a different degree than other Classes.

Subject to the foregoing, to determine the Investment Manager’s liability with respect to the Excess Amount, each day the Fund Operating Expenses for each applicable Class of each Fund generally will be annualized as of that day. [If the annualized Fund Operating Expenses of an applicable Class of a Fund as of that day exceed the Operating Expense Limit of such Class, the management fees payable to the Investment Manager that are accrued that day generally will be waived in an amount sufficient to reduce the Excess Amount so that the annualized Fund Operating Expenses as of that day equal the Operating Expense Limit. If such waiver of management fees is not sufficient to equal the Operating Expense Limit, the applicable Class of the Fund will accrue a receivable from the Investment Manager in an amount sufficient so that the annualized Fund Operating Expenses equal to the Operating Expense Limit.

In case a Class of a Fund needs to accrue such receivables from the Investment Manager during any month, the Fund will inform the Investment Manager about the Excess Amount owed to the applicable Class for that month and the Investment Manager will remit to the Fund promptly after the end of the month an amount that, together with already waived management fees, is sufficient to pay that month’s Excess Amount with respect to such Class.

1.5. Periodic Adjustments. As necessary, daily, monthly and annual adjustments, accruals or payments will be made by the appropriate party to ensure that the amount of the management fees waived and payments remitted to a Class of a Fund by the Investment Manager equal the Excess Amount for such Class for any Fund fiscal year during the duration of this Agreement.

 

2.

Reimbursement of Fee Waivers and Expense Reimbursements.

If on any day or month, the estimated annualized Fund Operating Expenses of a Class of a Fund listed in Schedule B as of that day or month are less than the Operating Expense Limit as of that day or month, the Investment Manager shall be entitled to reimbursement by such Class of the investment management fees waived or reduced and other payments remitted by the Investment Manager to such Class pursuant to Section I hereof during any of the previous thirty-six (36) months beginning with the effective date of this Agreement (the “Reimbursement Amount”), to the extent that the annualized Fund Operating Expenses plus the amount so reimbursed equals, as of such day or month, the Operating Expense Limit for such Class provided in Schedule A, provided that such amount paid to the Investment Manager will in no event exceed the total Reimbursement Amount and will not include any amounts previously reimbursed. The Reimbursement Amount may not include any additional charge or fees, such as interest accruable on the Reimbursement Amount. Amounts so reimbursed shall be allocated to the oldest Reimbursement Amount during the previous thirty-six (36) months until fully reimbursed, and thereafter, to the next oldest Reimbursement Amount, and so forth. Periodic adjustments to the Reimbursement Amount and related reimbursement may be made with respect to a Fund, as necessary to ensure that the amount of Fund Operating Expenses during any Fund fiscal year never exceed the Operating Expense Limit for an applicable Class of the Fund during that fiscal year.

 

3.

Term and Termination of Agreement.

Unless the Investment Manager has extended the duration of the Operating Expense Limit with respect to a Class of a Fund pursuant to Section 1.3 of this Agreement, this Agreement shall automatically renew effective March 1 of every year for one-year terms until such time as the Investment Manager provides written notice of non-renewal past the then-current term. In addition, this Agreement shall terminate with respect to a Fund and its applicable Classes upon termination of the Investment Management Agreement of that Fund.

 

4.

Miscellaneous.

4.1. Multiple Class Plan. In case a Fund has multiple classes of shares, any amount of fees or expenses waived, paid or reimbursed pursuant to the terms of this Agreement shall be allocated among the Classes of the Fund in accordance with the terms of the Fund’s multiple class plan pursuant to Rule 18f-3 under the 1940 Act.

4.2. Captions. The captions in this Agreement are included for convenience of reference only and in no other way define or delineate any of the provisions hereof or otherwise affect their construction or effect.

4.3. Interpretation. Nothing herein contained shall be deemed to require the Company or the Funds to take any action contrary to the Company’s Declaration of Trust or By-Laws, or any applicable statutory or regulatory requirement to which it is subject or by which it is bound, or to relieve or deprive the Company’s Board of Trustees of its responsibility for and control of the conduct of the affairs of the Company or the Funds.

4.4. Definitions. Any question of interpretation of any term or provision of this Agreement, including but not limited to the investment management fee, the computations of net asset values, and the allocation of expenses, having a counterpart in or otherwise derived from the terms and provisions of the Management Agreement or the 1940 Act, shall have the same meaning as and be resolved by reference to such Management Agreement or the 1940 Act.

 

5.

Voluntary Expense Limitation and Reimbursement.

5.1. Notwithstanding any other provision of this Agreement, the Investment Manager (or its affiliates) may voluntarily waive fees and/or reimburse expenses of one or more classes of Transamerica Money Market (the “Money Market Fund”) to such level(s) as the Company’s officers may reasonably determine. Any such waiver or expense reimbursement may be discontinued by the Investment Manager at any time. The Investment Manager shall be entitled to recapture any amounts so waived or reimbursed upon the Money Market Fund attaining such yield as the Company’s officers reasonably determine.

5.2. The Investment Manager shall be entitled to reimbursement by the Money Market Fund of the fees waived and/or expenses reimbursed by the Investment Manager or any of its affiliates to the Money Market Fund pursuant to the above paragraph during any of the previous thirty-six (36) months beginning on July 1, 2009. Any such reimbursement shall not result in the Money Market Fund’s effective daily yield to be negative.

This Agreement supersedes all prior written agreements between the parties relating to the subject matter hereof, and all such prior agreements are deemed terminated upon the effectiveness of this Agreement.

The parties have caused this Agreement to be signed by their respective officers thereunto duly authorized as of the day and year first above written.

 

TRANSAMERICA ASSET MANAGEMENT, INC.
By:  

 

  Erin D. Nelson
  Assistant General Counsel II and Assistant Secretary
TRANSAMERICA FUNDS
By:  

 

  Vincent J. Toner
  Vice President and Treasurer

SCHEDULE A

TRANSAMERICA FUNDS

OPERATING EXPENSE LIMITS

This Schedule relates to the following Funds of the Company as of March 1, 2021:

 

Fund Name

    Class    Expense
Cap		     EFFECTIVE
THROUGH		  

Transamerica ClearTrack 20151

    Class R1      1.20 %      March 1, 2022  

Transamerica ClearTrack 20151

    Class R3      0.95 %      March 1, 2022  

Transamerica ClearTrack 20151

    Class R6      0.55 %      March 1, 2022  

Transamerica ClearTrack 20201

    Class R1      1.20 %      March 1, 2022  

Transamerica ClearTrack 20201

    Class R3      0.95 %      March 1, 2022  

Transamerica ClearTrack 20201

    Class R6      0.55 %      March 1, 2022  

Transamerica ClearTrack 20251

    Class R1      1.20 %      March 1, 2022  

Transamerica ClearTrack 20251

    Class R3      0.95 %      March 1, 2022  

Transamerica ClearTrack 20251

    Class R6      0.55 %      March 1, 2022  

Transamerica ClearTrack 20301

    Class R1      1.20 %      March 1, 2022  

Transamerica ClearTrack 20301

    Class R3      0.95 %      March 1, 2022  

Transamerica ClearTrack 20301

    Class R6      0.55 %      March 1, 2022  

Transamerica ClearTrack 20351

    Class R1      1.20 %      March 1, 2022  

Transamerica ClearTrack 20351

    Class R3      0.95 %      March 1, 2022  

Transamerica ClearTrack 20351

    Class R6      0.55 %      March 1, 2022  

Transamerica ClearTrack 20401

    Class R1      1.20 %      March 1, 2022  

Transamerica ClearTrack 20401

    Class R3      0.95 %      March 1, 2022  

Transamerica ClearTrack 20401

    Class R6      0.55 %      March 1, 2022  

Transamerica ClearTrack 20451

    Class R1      1.20 %      March 1, 2022  

Transamerica ClearTrack 20451

    Class R3      0.95 %      March 1, 2022  

Transamerica ClearTrack 20451

    Class R6      0.55 %      March 1, 2022  

Transamerica ClearTrack 20501

    Class R1      1.20 %      March 1, 2022  

Transamerica ClearTrack 20501

    Class R3      0.95 %      March 1, 2022  

Transamerica ClearTrack 20501

    Class R6      0.55 %      March 1, 2022  

Transamerica ClearTrack 20551

    Class R1      1.20 %      March 1, 2022  

Transamerica ClearTrack 20551

    Class R3      0.95 %      March 1, 2022  

Transamerica ClearTrack 20551

    Class R6      0.55 %      March 1, 2022  

Transamerica ClearTrack 20601

    Class R1      1.20 %      March 1, 2022  

Transamerica ClearTrack 20601

    Class R3      0.95 %      March 1, 2022  

Transamerica ClearTrack 20601

    Class R6      0.55 %      March 1, 2022  

Transamerica ClearTrack Retirement Income1

    Class R1      1.20 %      March 1, 2022  

Transamerica ClearTrack Retirement Income1

    Class R3      0.95 %      March 1, 2022  

Transamerica ClearTrack Retirement Income1

    Class R6      0.55 %      March 1, 2022  

Transamerica Asset Allocation – Conservative Portfolio

    Class A      0.60 %      March 1, 2022  

Transamerica Asset Allocation – Conservative Portfolio

    Class C      1.35 %      March 1, 2022  

Transamerica Asset Allocation – Conservative Portfolio2

    Class I      0.35 %      March 1, 2022  

Transamerica Asset Allocation - Conservative Portfolio

    Class R      0.95 %      March 1, 2022  

Transamerica Asset Allocation – Growth Portfolio

    Class A      0.60 %      March 1, 2022  

Transamerica Asset Allocation – Growth Portfolio

    Class C      1.35 %      March 1, 2022  

Transamerica Asset Allocation – Growth Portfolio2

    Class I      0.35 %      March 1, 2022  

Transamerica Asset Allocation - Growth Portfolio

    Class R      0.95 %      March 1, 2022  

Transamerica Asset Allocation Intermediate Horizon

    Class R      0.60 %      March 1, 2022  

Transamerica Asset Allocation Intermediate Horizon

    Class R4      0.35 %      March 1, 2022  

Transamerica Asset Allocation Long Horizon

    Class R      0.60 %      March 1, 2022  

Transamerica Asset Allocation Long Horizon

    Class R4      0.35 %      March 1, 2022  

Transamerica Asset Allocation – Moderate Growth Portfolio

    Class A      0.60 %      March 1, 2022  

Transamerica Asset Allocation - Moderate Growth Portfolio

    Class C      1.35 %      March 1, 2022  

Transamerica Asset Allocation – Moderate Growth Portfolio2

    Class I      0.35 %      March 1, 2022  

Transamerica Asset Allocation - Moderate Growth Portfolio

    Class R      0.85 %      March 1, 2022  

Transamerica Asset Allocation – Moderate Portfolio

    Class A      0.60 %      March 1, 2022  

Transamerica Asset Allocation – Moderate Portfolio

    Class C      1.35 %      March 1, 2022  

Transamerica Asset Allocation – Moderate Portfolio2

    Class I      0.35 %      March 1, 2022  

Transamerica Asset Allocation - Moderate Portfolio

    Class R      0.85 %      March 1, 2022  

Transamerica Asset Allocation Short Horizon

    Class R      0.60 %      March 1, 2022  

Transamerica Asset Allocation Short Horizon

    Class R4      0.35 %      March 1, 2022  

Transamerica Balanced II

    Class I3      0.66 %      March 1, 2022  

Transamerica Balanced II

    Class R      1.10 %      March 1, 2022  

Transamerica Balanced II

    Class R4      0.75 %      March 1, 2022  

Transamerica Bond

    Class A      0.97 %      March 1, 2022  

Transamerica Bond

    Class C      1.65 %      March 1, 2022  

Transamerica Bond

    Class I      0.50 %      March 1, 2022  

Transamerica Bond

    Class I2      0.52 %      March 1, 2022  

Transamerica Bond

    Class R6      0.52 %      March 1, 2022  

Transamerica Capital Growth

    Class A      1.16 %      March 1, 2022  

Transamerica Capital Growth

    Class C      1.90 %      March 1, 2022  

Transamerica Capital Growth

    Class I      0.88 %      March 1, 2022  

Transamerica Capital Growth

    Class I2      0.78 %      March 1, 2022  

Transamerica Capital Growth

    Class R6      0.78 %      March 1, 2022  

Transamerica Core Bond

    Class I2      0.54 %      March 1, 2022  

Transamerica Emerging Markets Debt

    Class A      1.25 %      March 1, 2022  

Transamerica Emerging Markets Debt

    Class C      2.00 %      March 1, 2022  

Transamerica Emerging Markets Debt

    Class I      0.85 %      March 1, 2022  

Transamerica Emerging Markets Debt

    Class I2      0.85 %      March 1, 2022  

Transamerica Emerging Markets Debt

    Class R6      0.85 %      March 1, 2022  

Transamerica Emerging Markets Opportunities

    Class A      1.55 %      March 1, 2022  

Transamerica Emerging Markets Opportunities

    Class C      2.30 %      March 1, 2022  

Transamerica Emerging Markets Opportunities

    Class I      0.98 %      March 1, 2022  

Transamerica Emerging Markets Opportunities

    Class I2      0.95 %      March 1, 2022  

Transamerica Emerging Markets Opportunities

    Class R      1.80 %      March 1, 2022  

Transamerica Emerging Markets Opportunities

    Class R3      1.70 %      March 1, 2022  

Transamerica Emerging Markets Opportunities

    Class R4      1.55 %      March 1, 2022  

Transamerica Emerging Markets Opportunities

    Class R6      0.95 %      March 1, 2022  

Transamerica Event Driven

    Class A      1.60 %      March 1, 2022  

Transamerica Event Driven

    Class I      1.35 %      March 1, 2022  

Transamerica Event Driven

    Class I2      1.35 %      March 1, 2022  

Transamerica Floating Rate

    Class A      1.05 %      March 1, 2022  

Transamerica Floating Rate

    Class C      1.80 %      March 1, 2022  

Transamerica Floating Rate

    Class I      0.80 %      March 1, 2022  

Transamerica Floating Rate

    Class I2      0.80 %      March 1, 2022  

Transamerica Global Equity

    Class A      1.35 %      March 1, 2022  

Transamerica Global Equity

    Class C      2.10 %      March 1, 2022  

Transamerica Global Equity

    Class I      1.10 %      March 1, 2022  

Transamerica Global Equity

    Class I2      1.05 %      March 1, 2022  

Transamerica Global Equity

    Class R6      1.05 %      March 1, 2022  

Transamerica Government Money Market

    Class A      0.73 %      March 1, 2022  

Transamerica Government Money Market

    Class C      1.48 %      March 1, 2022  

Transamerica Government Money Market

    Class I      0.38 %      March 1, 2022  

Transamerica Government Money Market

    Class I2      0.38 %      March 1, 2022  

Transamerica Government Money Market

    Class I3      0.38 %      March 1, 2022  

Transamerica Government Money Market

    Class R2      0.80 %      March 1, 2022  

Transamerica Government Money Market

    Class R4      0.50 %      March 1, 2022  

Transamerica High Quality Bond

    Class I3      0.52 %      March 1, 2022  

Transamerica High Quality Bond

    Class R      1.00 %      March 1, 2022  

Transamerica High Quality Bond

    Class R4      0.65 %      March 1, 2022  

Transamerica High Yield Bond

    Class A      1.09 %      March 1, 2022  

Transamerica High Yield Bond

    Class C      1.85 %      March 1, 2022  

Transamerica High Yield Bond3

    Class I      0.79 %      March 1, 2022  

Transamerica High Yield Bond

    Class I2      0.67 %      March 1, 2022  

Transamerica High Yield Bond

    Class I3      0.67 %      March 1, 2022  

Transamerica High Yield Bond

    Class R      1.10 %      March 1, 2022  

Transamerica High Yield Bond

    Class R4      0.85 %      March 1, 2022  

Transamerica High Yield Bond

    Class R6      0.67 %      March 1, 2022  

Transamerica High Yield ESG

    Class A      1.00 %      March 1, 2022  

Transamerica High Yield ESG

    Class C      1.75 %      March 1, 2022  

Transamerica High Yield ESG4

    Class I      0.85 %      March 1, 2022  

Transamerica High Yield ESG

    Class I2      0.75 %      March 1, 2022  

Transamerica High Yield ESG

    Class R      1.25 %      March 1, 2022  

Transamerica High Yield ESG

    Class R3      1.15 %      March 1, 2022  

Transamerica High Yield ESG

    Class R4      1.00 %      March 1, 2022  

Transamerica High Yield ESG

    Class R6      0.75 %      March 1, 2022  

Transamerica High Yield Muni5

    Class A      1.01 %      March 1, 2022  

Transamerica High Yield Muni5

    Class C      1.76 %      March 1, 2022  

Transamerica High Yield Muni

    Class I      0.76 %      March 1, 2022  

Transamerica High Yield Muni

    Class I2      0.76 %      March 1, 2022  

Transamerica Inflation Opportunities

    Class A      1.00 %      March 1, 2022  

Transamerica Inflation Opportunities

    Class C      1.71 %      March 1, 2022  

Transamerica Inflation Opportunities

    Class I      0.65 %      March 1, 2022  

Transamerica Inflation Opportunities

    Class I2      0.64 %      March 1, 2022  

Transamerica Inflation Opportunities

    Class R6      0.64 %      March 1, 2022  

Transamerica Inflation-Protected Securities

    Class I3      0.53 %      March 1, 2022  

Transamerica Inflation-Protected Securities

    Class R      1.00 %      March 1, 2022  

Transamerica Inflation-Protected Securities

    Class R4      0.65 %      March 1, 2022  

Transamerica Intermediate Bond

    Class I2      0.50 %      March 1, 2022  

Transamerica Intermediate Bond

    Class I3      0.50 %      March 1, 2022  

Transamerica Intermediate Bond

    Class R      1.00 %      March 1, 2022  

Transamerica Intermediate Bond

    Class R4      0.65 %      March 1, 2022  

Transamerica Intermediate Muni5

    Class A      0.85 %      March 1, 2022  

Transamerica Intermediate Muni5

    Class C      1.60 %      March 1, 2022  

Transamerica Intermediate Muni

    Class I      0.49 %      March 1, 2022  

Transamerica Intermediate Muni

    Class I2      0.60 %      March 1, 2022  

Transamerica International Equity

    Class A      1.25 %      March 1, 2022  

Transamerica International Equity

    Class C      2.00 %      March 1, 2022  

Transamerica International Equity

    Class I      1.00 %      March 1, 2022  

Transamerica International Equity

    Class I2      0.90 %      March 1, 2022  

Transamerica International Equity

    Class I3      0.90 %      March 1, 2022  

Transamerica International Equity

    Class R      1.40 %      March 1, 2022  

Transamerica International Equity

    Class R4      1.15 %      March 1, 2022  

Transamerica International Equity

    Class R6      0.90 %      March 1, 2022  

Transamerica International Growth

    Class A      1.20 %      March 1, 2022  

Transamerica International Growth

    Class C      1.95 %      March 1, 2022  

Transamerica International Growth6

    Class I      1.05 %      March 1, 2022  

Transamerica International Growth

    Class I2      0.95 %      March 1, 2022  

Transamerica International Growth

    Class R      1.55 %      March 1, 2022  

Transamerica International Growth

    Class R4      1.20 %      March 1, 2022  

Transamerica International Growth

    Class R6      0.95 %      March 1, 2022  

Transamerica International Small Cap Value

    Class I      1.22 %      March 1, 2022  

Transamerica International Small Cap Value

    Class I2      1.12 %      March 1, 2022  

Transamerica International Small Cap Value

    Class R6      1.22 %      March 1, 2022  

Transamerica International Stock

    Class A      1.25 %      March 1, 2022  

Transamerica International Stock

    Class I      1.00 %      March 1, 2022  

Transamerica International Stock

    Class I2      0.95 %      March 1, 2022  

Transamerica International Stock

    Class R6      0.95 %      March 1, 2022  

Transamerica Large Cap Value

    Class A      1.15 %      March 1, 2022  

Transamerica Large Cap Value

    Class C      1.90 %      March 1, 2022  

Transamerica Large Cap Value7

    Class I      0.83 %      March 1, 2022  

Transamerica Large Cap Value

    Class I2      0.72 %      March 1, 2022  

Transamerica Large Cap Value

    Class R6      0.72 %      March 1, 2022  

Transamerica Large Core

    Class I3      0.65 %      March 1, 2022  

Transamerica Large Core

    Class R      1.15 %      March 1, 2022  

Transamerica Large Core

    Class R4      0.83 %      March 1, 2022  

Transamerica Large Growth

    Class I3      0.75 %      March 1, 2022  

Transamerica Large Growth

    Class R      1.25 %      March 1, 2022  

Transamerica Large Growth

    Class R4      0.90 %      March 1, 2022  

Transamerica Large Value Opportunities

    Class I3      0.65 %      March 1, 2022  

Transamerica Large Value Opportunities

    Class R      1.00 %      March 1, 2022  

Transamerica Large Value Opportunities

    Class R4      0.75 %      March 1, 2022  

Transamerica Mid Cap Growth

    Class A      1.30 %      March 1, 2022  

Transamerica Mid Cap Growth

    Class C      2.05 %      March 1, 2022  

Transamerica Mid Cap Growth

    Class I      0.98 %      March 1, 2022  

Transamerica Mid Cap Growth

    Class I2      0.85 %      March 1, 2022  

Transamerica Mid Cap Growth

    Class I3      0.85 %      March 1, 2022  

Transamerica Mid Cap Growth

    Class R      1.35 %      March 1, 2022  

Transamerica Mid Cap Growth

    Class R4      0.95 %      March 1, 2022  

Transamerica Mid Cap Value

    Class I2      1.05 %      March 1, 2022  

Transamerica Mid Cap Value Opportunities

    Class A      1.20 %      March 1, 2022  

Transamerica Mid Cap Value Opportunities

    Class C      1.95 %      March 1, 2022  

Transamerica Mid Cap Value Opportunities

    Class I      0.90 %      March 1, 2022  

Transamerica Mid Cap Value Opportunities

    Class I2      0.80 %      March 1, 2022  

Transamerica Mid Cap Value Opportunities

    Class I3      0.80 %      March 1, 2022  

Transamerica Mid Cap Value Opportunities

    Class R      1.25 %      March 1, 2022  

Transamerica Mid Cap Value Opportunities

    Class R4      0.90 %      March 1, 2022  

Transamerica Mid Cap Value Opportunities

    Class R6      0.80 %      March 1, 2022  

Transamerica MLP & Energy Income

    Class A      1.60 %      March 1, 2022  

Transamerica MLP & Energy Income

    Class C      2.35 %      March 1, 2022  

Transamerica MLP & Energy Income

    Class I      1.35 %      March 1, 2022  

Transamerica MLP & Energy Income

    Class I2      1.25 %      March 1, 2022  

Transamerica Multi-Asset Income8

    Class A      1.12 %      March 1, 2022  

Transamerica Multi-Asset Income8

    Class C      1.87 %      March 1, 2022  

Transamerica Multi-Asset Income8

    Class I      0.72 %      March 1, 2022  

Transamerica Multi-Asset Income8

    Class I2      0.83 %      March 1, 2022  

Transamerica Multi-Managed Balanced

    Class A      1.15 %      March 1, 2022  

Transamerica Multi-Managed Balanced

    Class C      1.90 %      March 1, 2022  

Transamerica Multi-Managed Balanced

    Class I      0.83 %      March 1, 2022  

Transamerica Multi-Managed Balanced

    Class I2      0.73 %      March 1, 2022  

Transamerica Multi-Managed Balanced

    Class R6      0.73 %      March 1, 2022  

Transamerica Short-Term Bond

    Class A      0.84 %      March 1, 2022  

Transamerica Short-Term Bond

    Class C      1.56 %      March 1, 2022  

Transamerica Short-Term Bond

    Class I      0.57 %      March 1, 2022  

Transamerica Short-Term Bond

    Class I2      0.50 %      March 1, 2022  

Transamerica Short-Term Bond

    Class R6      0.50 %      March 1, 2022  

Transamerica Small Cap Growth

    Class A      1.40 %      March 1, 2022  

Transamerica Small Cap Growth

    Class C      2.15 %      March 1, 2022  

Transamerica Small Cap Growth

    Class I      1.15 %      March 1, 2022  

Transamerica Small Cap Growth

    Class I2      1.00 %      March 1, 2022  

Transamerica Small Cap Growth

    Class I3      1.00 %      March 1, 2022  

Transamerica Small Cap Growth

    Class R      1.55 %      March 1, 2022  

Transamerica Small Cap Growth

    Class R4      1.15 %      March 1, 2022  

Transamerica Small Cap Growth

    Class R6      1.00 %      March 1, 2022  

Transamerica Small Cap Value

    Class A      1.30 %      March 1, 2022  

Transamerica Small Cap Value

    Class C      2.05 %      March 1, 2022  

Transamerica Small Cap Value

    Class I      1.05 %      March 1, 2022  

Transamerica Small Cap Value

    Class I2      0.95 %      March 1, 2022  

Transamerica Small Cap Value

    Class I3      0.95 %      March 1, 2022  

Transamerica Small Cap Value

    Class R      1.50 %      March 1, 2022  

Transamerica Small Cap Value

    Class R4      1.10 %      March 1, 2022  

Transamerica Small Cap Value

    Class R6      0.95 %      March 1, 2022  

Transamerica Small/Mid Cap Value

    Class A      1.37 %      March 1, 2022  

Transamerica Small/Mid Cap Value

    Class C      2.05 %      March 1, 2022  

Transamerica Small/Mid Cap Value

    Class I      1.00 %      March 1, 2022  

Transamerica Small/Mid Cap Value

    Class I2      0.90 %      March 1, 2022  

Transamerica Small/Mid Cap Value

    Class R6      0.90 %      March 1, 2022  

Transamerica Stock Index

    Class R      0.65 %      March 1, 2022  

Transamerica Stock Index

    Class R4      0.30 %      March 1, 2022  

Transamerica Sustainable Bond

    Class A      0.80 %      March 1, 2022  

Transamerica Sustainable Bond

    Class C      1.55 %      March 1, 2022  

Transamerica Sustainable Bond

    Class I      0.50 %      March 1, 2022  

Transamerica Sustainable Bond

    Class I2      0.45 %      March 1, 2022  

Transamerica Sustainable Bond

    Class R      1.05 %      March 1, 2022  

Transamerica Sustainable Bond

    Class R3      0.85 %      March 1, 2022  

Transamerica Sustainable Bond

    Class R4      0.70 %      March 1, 2022  

Transamerica Sustainable Bond

    Class R6      0.45 %      March 1, 2022  

Transamerica Sustainable Equity Income (formerly, Transamerica Dividend Focused)

    Class A      1.15 %      March 1, 2022  

Transamerica Sustainable Equity Income (formerly, Transamerica Dividend Focused)

    Class C      1.90 %      March 1, 2022  

Transamerica Sustainable Equity Income9 (formerly, Transamerica Dividend Focused)

    Class I      0.90 %      March 1, 2022  

Transamerica Sustainable Equity Income (formerly, Transamerica Dividend Focused)

    Class I2      0.83 %      March 1, 2022  

Transamerica Sustainable Equity Income (formerly, Transamerica Dividend Focused)

    Class R6      0.83 %      March 1, 2022  

Transamerica Total Return

    Class I2      0.68 %      March 1, 2022  

Transamerica Unconstrained Bond

    Class A      1.20 %      March 1, 2022  

Transamerica Unconstrained Bond

    Class C      1.20 %      March 1, 2022  

Transamerica Unconstrained Bond

    Class I      0.95 %      March 1, 2022  

Transamerica Unconstrained Bond

    Class I2      0.85 %      March 1, 2022  

Transamerica US Growth

    Class A      1.16 %      March 1, 2022  

Transamerica US Growth

    Class C      1.86 %      March 1, 2022  

Transamerica US Growth

    Class I      0.86 %      March 1, 2022  

Transamerica US Growth

    Class I2      0.76 %      March 1, 2022  

Transamerica US Growth

    Class T      0.79 %      March 1, 2022  

 

1

TAM has agreed to further reduce Fund Operating Expenses to waive fees and/or reimburse fund expenses to the extent that the total annual operating expenses exceed 1.20% for Class R1 shares, 0.95% for Class R3 shares and 0.55% for Class R6 shares through March 1, 2022. Acquired fund fees are included within the fund’s expense cap.

 

2

TAM has contractually agreed to reimburse 0.09% of the sub-transfer agency and certain per account transfer agency fees on Class I shares through March 1, 2022.

 

3

TAM has contractually agreed to reimburse 0.08% of the sub-transfer agency fees and certain per account transfer agency fees on Class I shares through March 1, 2023.

 

4

TAM has contractually agreed to reimburse 0.08% of the sub-transfer agency fees and certain per account transfer agency fees on Class I shares through March 1, 2022.

 

5

TAM has agreed to further reduce Fund Operating Expenses by waiving 0.10% of the 0.25% 12b-1 fee for Class A shares and 0.25% of the 1.00% 12b- 1 fee for Class C shares through March 1, 2022. Acquired fund fees are included within the fund’s expense cap for Transamerica Intermediate Muni.

 

6

TAM has contractually agreed to reimburse certain per account transfer agency fees on Class I shares through March 1, 2022.

 

7

TAM contractually agreed to reimburse 0.09% of the sub-transfer agency fee on Class I shares of Transamerica Large Cap Value. TAM has agreed that this contractual reimbursement arrangement would remain in place through March 1, 2022.

 

8

Effective May 1, 2019, TAM agreed that the existing expense caps for all share classes of Transamerica Multi-Asset Income would remain in place through March 1, 2022. Also effective May 1, 2019, TAM agreed through March 1, 2022 to waive fees and/or reimburse fund expenses to the extent that the total fund operating expenses exceed 0.72% for Class I shares of Transamerica Multi-Asset Income.

 

9

TAM has contractually agreed to reimburse 0.09% of the sub-transfer agency fees on Class I shares through March 1, 2022.

SCHEDULE B

DATED AS OF March 1, 2021

TRANSAMERICA FUNDS

FUNDS SUBJECT TO EXPENSE REIMBURSEMENT

 

Transamerica ClearTrack 2015
Transamerica ClearTrack 2020
Transamerica ClearTrack 2025
Transamerica ClearTrack 2030
Transamerica ClearTrack 2035
Transamerica ClearTrack 2040
Transamerica ClearTrack 2045
Transamerica ClearTrack 2050
Transamerica ClearTrack 2055
Transamerica ClearTrack 2060
Transamerica ClearTrack Retirement Income
Transamerica Asset Allocation – Conservative Portfolio
Transamerica Asset Allocation – Growth Portfolio
Transamerica Asset Allocation Intermediate Horizon
Transamerica Asset Allocation Long Horizon
Transamerica Asset Allocation – Moderate Growth Portfolio
Transamerica Asset Allocation – Moderate Portfolio
Transamerica Asset Allocation Short Horizon
Transamerica Balanced II
Transamerica Bond
Transamerica Capital Growth
Transamerica Core Bond
Transamerica Emerging Markets Debt
Transamerica Emerging Markets Opportunities
Transamerica Event Driven
Transamerica Floating Rate
Transamerica Global Equity
Transamerica Government Money Market
Transamerica High Quality Bond
Transamerica High Yield Bond
Transamerica High Yield ESG
Transamerica High Yield Muni
Transamerica Inflation Opportunities
Transamerica Inflation-Protected Securities
Transamerica Intermediate Bond
Transamerica Intermediate Muni
Transamerica International Equity
Transamerica International Growth
Transamerica International Small Cap Value
Transamerica International Stock
Transamerica Large Cap Value
Transamerica Large Core
Transamerica Large Growth
Transamerica Large Value Opportunities
Transamerica Mid Cap Growth
Transamerica Mid Cap Value
Transamerica Mid Cap Value Opportunities
Transamerica MLP & Energy Income
Transamerica Multi-Asset Income
Transamerica Multi-Managed Balanced

Transamerica Short-Term Bond
Transamerica Small Cap Growth
Transamerica Small Cap Value
Transamerica Small/Mid Cap Value
Transamerica Stock Index
Transamerica Sustainable Bond
Transamerica Sustainable Equity Income (formerly, Transamerica Dividend Focused)
Transamerica Total Return
Transamerica Unconstrained Bond
Transamerica US Growth