AMENDMENT TO SUB-ADVISORY AGREEMENT BETWEEN TRANSAMERICA ASSET MANAGEMENT, INC. AND MORGAN STANLEY INVESTMENT MANAGEMENT INC.

Exhibit (d)(27)(v)

AMENDMENT TO SUB-ADVISORY AGREEMENT BETWEEN

TRANSAMERICA ASSET MANAGEMENT, INC. AND

XXXXXX XXXXXXX INVESTMENT MANAGEMENT INC.

THIS AMENDMENT is made as of February 10, 2012 to the Sub-Advisory Agreement dated June 23, 2004, as amended (the “Agreement”), between Transamerica Asset Management, Inc. and Xxxxxx Xxxxxxx Investment Management Inc. (the “Sub-Adviser”). In consideration of the mutual covenants contained herein, the parties agree as follows:

1. Schedule A. Schedule A to the Agreement is hereby deleted and replaced in its entirety with the attached revised Schedule A, and all references in the Agreement to Schedule A shall be deemed to refer to the attached Schedule A.

In all other respects, the Agreement dated June 23, 2004, as amended, is confirmed and remains in full force and effect.

The parties hereto have caused this amendment to be executed as of February 10, 2012.

TRANSAMERICA ASSET MANAGEMENT, INC.
By:		/s/ Xxxxxxxxxxx X. Xxxxxxx
Name:		Xxxxxxxxxxx X. Xxxxxxx
Title:		Senior Vice President and Chief Investment Officer
XXXXXX XXXXXXX INVESTMENT MANAGEMENT INC.
By:
Name:
Title:

SCHEDULE A

as of February 10, 2012

FUNDS		SUB-ADVISER COMPENSATION*		EFFECTIVE DATE
Transamerica Xxxxxx Xxxxxxx Capital Growth		0.30% of average daily net assets.**		March 22, 2011
Transamerica Xxxxxx Xxxxxxx Emerging Markets Debt		0.45% of the first $250 million of average daily net assets; and 0.35% of average daily net assets in excess of $250 million.		December 9, 2005
Transamerica Xxxxxx Xxxxxxx Growth Opportunities		0.40% of the first $1 billion of average daily net assets; and 0.375% of average daily net assets in excess of $1 billion.***		March 22, 2011
Transamerica Xxxxxx Xxxxxxx Small Company Growth		0.45% of the first $500 million of average daily net assets; and 0.40% of average daily net assets in excess of $500 million.		December 9, 2005

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

** The average daily net assets for the purpose of calculating sub-advisory fees will be determined on a combined basis with Transamerica Xxxxxx Xxxxxxx Capital Growth VP (a series of Transamerica Series Trust); Transamerica Xxxxxx Xxxxxxx Capital Growth; and the portion of the assets of Transamerica Multi Managed Large Cap Core VP (a series of Transamerica Series Trust) allocated to and sub-advised by Xxxxxx Xxxxxxx Investment Management Inc.

*** The average daily net assets for the purpose of calculating sub-advisory fees will be determined on a combined basis with Transamerica Xxxxxx Xxxxxxx Mid-Cap Growth VP (a series of Transamerica Series Trust); and Transamerica Xxxxxx Xxxxxxx Growth Opportunities.