TRANSAMERICA FUNDS AMENDMENT TO INVESTMENT ADVISORY AGREEMENT

Exhibit (d)(11)(iii)

TRANSAMERICA FUNDS

AMENDMENT TO INVESTMENT ADVISORY AGREEMENT

THIS AMENDMENT is made as of September 30, 2012, to the Investment Advisory Agreement dated as of November 7, 2005, as amended (the “Agreement”), between Transamerica Funds and Transamerica Asset Management, Inc.

In consideration of the mutual covenants contained herein, the parties agree as follows:

1. Fund Deleted. Any references to Transamerica International Value are hereby deleted, in accordance with the liquidation of the Fund, effective September 30, 2012.

2. Schedule A. Schedule A to the Agreement is hereby deleted entirely and replaced as attached to this amendment.

In all other respects, the Agreement dated November 7, 2005, as amended, is confirmed and remains in full force and effect.

The parties hereto have caused this amendment to be executed as of September 30, 2012.

TRANSAMERICA FUNDS
By:		/s/ Xxxxxxxxxxx X. Xxxxxxx
Name:		Xxxxxxxxxxx X. Xxxxxxx
Title:		Vice President

TRANSAMERICA ASSET MANAGEMENT, INC.
By:		/s/ Xxxxxx X. Xxxxxxxxx
Name:		Xxxxxx X. Xxxxxxxxx
Title:		Senior Vice President, General Counsel and Secretary

SCHEDULE A

As of September 30, 2012

FUND		INVESTMENT ADVISER COMPENSATION*		EFFECTIVE DATE
Transamerica Developing Markets Equity		1.20% of the first $50 million; 1.15% over $50 million up to $200 million; 1.10% over $200 million up to $500 million; 1.05% in excess of $500 million		December 6, 2005
Transamerica Global Allocation		0.80% of the first $100; 0.72% in excess of $100 million		December 6, 2005
Transamerica International		1.00% of the first $100 million; 0.95% in excess of $100 million		December 6, 2005
Transamerica International Bond		0.55% of the first $100 million; 0.52% over $100 million up to $250 million; 0.51% over $250 million up to $500 million; 0.50% over $500 million up to $1 billion; 0.47% in excess of $1 billion		December 6, 2005

* As a percentage of average daily net assets on an annual basis.