AMENDED AND RESTATED EXPENSE LIMITATION AGREEMENT
Exhibit (h)(2)
AMENDED AND RESTATED EXPENSE LIMITATION AGREEMENT
EXPENSE LIMITATION AGREEMENT, effective as of March 1, 2005, as previously amended and restated, and hereby amended and restated as of March 1, 2024, 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 (including borrowing costs and overdraft charges), 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 certain Funds, if indicated in a footnote to Schedule A, “Fund Operating Expenses” shall include acquired fund fees and expenses and 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 (including borrowing costs and overdraft charges), 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.
1.2. 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 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 Government Money Market (the “Government 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 Government 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 Government 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 Government Money Market Fund’s effective daily yield to be negative.
| 6. | Prior Agreements. |
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: /s/ Xxxxxx X. Xxxx | ||
| Xxxxxx X. Xxxx | ||
| Chairman of the Board, Chief Executive Officer and President | ||
| TRANSAMERICA FUNDS | ||
| By: /s/ Xxxxxxx X. Xxxxx | ||
| Xxxxxxx X. Xxxxx | ||
| Vice President and Treasurer | ||
SCHEDULE A
OPERATING EXPENSE LIMITS
This Schedule relates to the following Funds of the Company as of March 1, 2024:
| Fund Name | Class | Expense Cap |
EFFECTIVE THROUGH | |||
| Transamerica ClearTrack® 20151 | Class R1 | 1.20% | March 1, 2025 | |||
| Transamerica ClearTrack® 20151 | Class R3 | 0.95% | March 1, 2025 | |||
| Transamerica ClearTrack® 20151 | Class R6 | 0.55% | March 1, 2025 | |||
| Transamerica ClearTrack® 20201 | Class R1 | 1.20% | March 1, 2025 | |||
| Transamerica ClearTrack® 20201 | Class R3 | 0.95% | March 1, 2025 | |||
| Transamerica ClearTrack® 20201 | Class R6 | 0.55% | March 1, 2025 | |||
| Transamerica ClearTrack® 20251 | Class R1 | 1.20% | March 1, 2025 | |||
| Transamerica ClearTrack® 20251 | Class R3 | 0.95% | March 1, 2025 | |||
| Transamerica ClearTrack® 20251 | Class R6 | 0.55% | March 1, 2025 | |||
| Transamerica ClearTrack® 20301 | Class R1 | 1.20% | March 1, 2025 | |||
| Transamerica ClearTrack® 20301 | Class R3 | 0.95% | March 1, 2025 | |||
| Transamerica ClearTrack® 20301 | Class R6 | 0.55% | March 1, 2025 | |||
| Transamerica ClearTrack® 20351 | Class R1 | 1.20% | March 1, 2025 | |||
| Transamerica ClearTrack® 20351 | Class R3 | 0.95% | March 1, 2025 | |||
| Transamerica ClearTrack® 20351 | Class R6 | 0.55% | March 1, 2025 | |||
| Transamerica ClearTrack® 20401 | Class R1 | 1.20% | March 1, 2025 | |||
| Transamerica ClearTrack® 20401 | Class R3 | 0.95% | March 1, 2025 | |||
| Transamerica ClearTrack® 20401 | Class R6 | 0.55% | March 1, 2025 | |||
| Transamerica ClearTrack® 20451 | Class R1 | 1.20% | March 1, 2025 | |||
| Transamerica ClearTrack® 20451 | Class R3 | 0.95% | March 1, 2025 | |||
| Transamerica ClearTrack® 20451 | Class R6 | 0.55% | March 1, 2025 | |||
| Transamerica ClearTrack® 20501 | Class R1 | 1.20% | March 1, 2025 | |||
| Transamerica ClearTrack® 20501 | Class R3 | 0.95% | March 1, 2025 | |||
| Transamerica ClearTrack® 20501 | Class R6 | 0.55% | March 1, 2025 | |||
| Transamerica ClearTrack® 20551 | Class R1 | 1.20% | March 1, 2025 | |||
| Transamerica ClearTrack® 20551 | Class R3 | 0.95% | March 1, 2025 | |||
| Transamerica ClearTrack® 20551 | Class R6 | 0.55% | March 1, 2025 | |||
| Transamerica ClearTrack® 20601 | Class R1 | 1.20% | March 1, 2025 | |||
| Transamerica ClearTrack® 20601 | Class R3 | 0.95% | March 1, 2025 | |||
| Transamerica ClearTrack® 20601 | Class R6 | 0.55% | March 1, 2025 | |||
| Transamerica ClearTrack® Retirement Income1 | Class R1 | 1.20% | March 1, 2025 | |||
| Transamerica ClearTrack® Retirement Income1 | Class R3 | 0.95% | March 1, 2025 | |||
| Transamerica ClearTrack® Retirement Income1 | Class R6 | 0.55% | March 1, 2025 | |||
| Transamerica Asset Allocation – Conservative Portfolio | Class A | 0.52% | March 1, 2025 | |||
| Transamerica Asset Allocation – Conservative Portfolio | Class C | 1.31% | March 1, 2025 | |||
| Transamerica Asset Allocation – Conservative Portfolio2 | Class I | 0.30% | March 1, 2025 |
| Fund Name | Class | Expense Cap |
EFFECTIVE THROUGH | |||
| Transamerica Asset Allocation – Conservative Portfolio | Class R | 0.77% | March 1, 2025 | |||
| Transamerica Asset Allocation – Conservative Portfolio | Class R3 | 0.35% | March 1, 2025 | |||
| Transamerica Asset Allocation – Growth Portfolio | Class A | 0.55% | March 1, 2025 | |||
| Transamerica Asset Allocation – Growth Portfolio | Class C | 1.35% | March 1, 2025 | |||
| Transamerica Asset Allocation – Growth Portfolio2 | Class I | 0.30% | March 1, 2025 | |||
| Transamerica Asset Allocation – Growth Portfolio | Class R | 0.78% | March 1, 2025 | |||
| Transamerica Asset Allocation – Growth Portfolio | Class R3 | 0.35% | March 1, 2025 | |||
| Transamerica Asset Allocation – Moderate Growth Portfolio | Class A | 0.52% | March 1, 2025 | |||
| Transamerica Asset Allocation – Moderate Growth Portfolio | Class C | 1.32% | March 1, 2025 | |||
| Transamerica Asset Allocation – Moderate Growth Portfolio2 | Class I | 0.29% | March 1, 2025 | |||
| Transamerica Asset Allocation – Moderate Growth Portfolio | Class R | 0.78% | March 1, 2025 | |||
| Transamerica Asset Allocation – Moderate Growth Portfolio | Class R3 | 0.35% | March 1, 2025 | |||
| Transamerica Asset Allocation – Moderate Portfolio | Class A | 0.52% | March 1, 2025 | |||
| Transamerica Asset Allocation – Moderate Portfolio | Class C | 1.31% | March 1, 2025 | |||
| Transamerica Asset Allocation – Moderate Portfolio2 | Class I | 0.29% | March 1, 2025 | |||
| Transamerica Asset Allocation – Moderate Portfolio | Class R | 0.76% | March 1, 2025 | |||
| Transamerica Asset Allocation – Moderate Portfolio | Class R3 | 0.35% | March 1, 2025 | |||
| Transamerica Asset Allocation Intermediate Horizon | Class R | 0.60% | March 1, 2025 | |||
| Transamerica Asset Allocation Intermediate Horizon | Class R4 | 0.35% | March 1, 2025 | |||
| Transamerica Asset Allocation Long Horizon | Class R | 0.60% | March 1, 2025 | |||
| Transamerica Asset Allocation Long Horizon | Class R4 | 0.35% | March 1, 2025 | |||
| Transamerica Asset Allocation Short Horizon | Class R | 0.60% | March 1, 2025 | |||
| Transamerica Asset Allocation Short Horizon | Class R4 | 0.35% | March 1, 2025 | |||
| Transamerica Balanced II | Class I3 | 0.63% | March 1, 2025 | |||
| Transamerica Balanced II | Class R | 1.10% | March 1, 2025 | |||
| Transamerica Balanced II | Class R4 | 0.75% | March 1, 2025 | |||
| Transamerica Bond | Class A | 0.93% | March 1, 2025 | |||
| Transamerica Bond | Class C | 1.59% | March 1, 2025 | |||
| Transamerica Bond | Class I | 0.50% | March 1, 2025 | |||
| Transamerica Bond | Class I2 | 0.50% | March 1, 2025 | |||
| Transamerica Bond | Class R | 1.01% | March 1, 2025 | |||
| Transamerica Bond | Class R6 | 0.50% | March 1, 2025 | |||
| Transamerica Capital Growth | Class A | 1.11% | March 1, 2025 | |||
| Transamerica Capital Growth | Class C | 1.88% | March 1, 2025 | |||
| Transamerica Capital Growth | Class I | 0.82% | March 1, 2025 | |||
| Transamerica Capital Growth | Class I2 | 0.74% | March 1, 2025 | |||
| Transamerica Capital Growth | Class R | 1.41% | March 1, 2025 | |||
| Transamerica Capital Growth | Class R6 | 0.74% | March 1, 2025 | |||
| Transamerica Core Bond | Class A | 0.85% | March 1, 2025 | |||
| Transamerica Core Bond | Class C | 1.52% | March 1, 2025 | |||
| Transamerica Core Bond3 | Class I | 0.56% | March 1, 2025 | |||
| Transamerica Core Bond | Class I2 | 0.47% | March 1, 2025 |
| Fund Name | Class | Expense Cap |
EFFECTIVE THROUGH | |||
| Transamerica Core Bond | Class I3 | 0.46% | March 1, 2025 | |||
| Transamerica Core Bond | Class R | 1.00% | March 1, 2025 | |||
| Transamerica Core Bond | Class R4 | 0.65% | March 1, 2025 | |||
| Transamerica Core Bond | Class R6 | 0.46% | March 1, 2025 | |||
| Transamerica Emerging Markets Debt | Class A | 1.25% | March 1, 2025 | |||
| Transamerica Emerging Markets Debt | Class C | 1.96% | March 1, 2025 | |||
| Transamerica Emerging Markets Debt | Class I | 0.85% | March 1, 2025 | |||
| Transamerica Emerging Markets Debt | Class I2 | 0.80% | March 1, 2025 | |||
| Transamerica Emerging Markets Debt | Class R6 | 0.80% | March 1, 2025 | |||
| Transamerica Emerging Markets Opportunities | Class A | 1.55% | March 1, 2025 | |||
| Transamerica Emerging Markets Opportunities | Class C | 2.30% | March 1, 2025 | |||
| Transamerica Emerging Markets Opportunities | Class I | 0.98% | March 1, 2025 | |||
| Transamerica Emerging Markets Opportunities | Class I2 | 0.95% | March 1, 2025 | |||
| Transamerica Emerging Markets Opportunities | Class R | 1.80% | March 1, 2025 | |||
| Transamerica Emerging Markets Opportunities | Class R3 | 1.70% | March 1, 2025 | |||
| Transamerica Emerging Markets Opportunities | Class R4 | 1.55% | March 1, 2025 | |||
| Transamerica Emerging Markets Opportunities | Class R6 | 0.95% | March 1, 2025 | |||
| Transamerica Energy Infrastructure | Class A | 1.60% | March 1, 2025 | |||
| Transamerica Energy Infrastructure | Class C | 2.35% | March 1, 2025 | |||
| Transamerica Energy Infrastructure | Class I | 1.31% | March 1, 2025 | |||
| Transamerica Energy Infrastructure | Class I2 | 1.21% | March 1, 2025 | |||
| Transamerica Floating Rate | Class A | 0.97% | March 1, 2025 | |||
| Transamerica Floating Rate | Class C | 1.72% | March 1, 2025 | |||
| Transamerica Floating Rate2 | Class I | 0.72% | March 1, 2025 | |||
| Transamerica Floating Rate | Class I2 | 0.65% | March 1, 2025 | |||
| Transamerica Government Money Market4 | Class A | 0.73% | March 1, 2025 | |||
| Transamerica Government Money Market4 | Class C | 1.48% | March 1, 2025 | |||
| Transamerica Government Money Market4 | Class I | 0.38% | March 1, 2025 | |||
| Transamerica Government Money Market4 | Class I2 | 0.38% | March 1, 2025 | |||
| Transamerica Government Money Market4 | Class I3 | 0.38% | March 1, 2025 | |||
| Transamerica Government Money Market4 | Class R2 | 0.73% | March 1, 2025 | |||
| Transamerica Government Money Market4 | Class R4 | 0.50% | March 1, 2025 | |||
| Transamerica High Yield Bond | Class A | 1.05% | March 1, 2025 | |||
| Transamerica High Yield Bond | Class C | 1.77% | March 1, 2025 | |||
| Transamerica High Yield Bond5 | Class I | 0.75% | March 1, 2025 | |||
| Transamerica High Yield Bond | Class I2 | 0.65% | March 1, 2025 | |||
| Transamerica High Yield Bond | Class I3 | 0.65% | March 1, 2025 | |||
| Transamerica High Yield Bond | Class R | 1.10% | March 1, 2025 | |||
| Transamerica High Yield Bond | Class R4 | 0.85% | March 1, 2025 | |||
| Transamerica High Yield Bond | Class R6 | 0.65% | March 1, 2025 | |||
| Transamerica High Yield ESG | Class A | 1.00% | March 1, 2025 | |||
| Transamerica High Yield ESG | Class C | 1.75% | March 1, 2025 |
| Fund Name | Class | Expense Cap |
EFFECTIVE THROUGH | |||
| Transamerica High Yield ESG5 | Class I | 0.85% | March 1, 2025 | |||
| Transamerica High Yield ESG | Class I2 | 0.75% | March 1, 2025 | |||
| Transamerica High Yield ESG | Class R | 1.25% | March 1, 2025 | |||
| Transamerica High Yield ESG | Class R3 | 1.15% | March 1, 2025 | |||
| Transamerica High Yield ESG | Class R4 | 1.00% | March 1, 2025 | |||
| Transamerica High Yield ESG | Class R6 | 0.75% | March 1, 2025 | |||
| Transamerica High Yield Muni6 | Class A | 1.01% | March 1, 2025 | |||
| Transamerica High Yield Muni6 | Class C | 1.76% | March 1, 2025 | |||
| Transamerica High Yield Muni | Class I | 0.76% | March 1, 2025 | |||
| Transamerica High Yield Muni | Class I2 | 0.73% | March 1, 2025 | |||
| Transamerica Inflation Opportunities | Class A | 1.00% | March 1, 2025 | |||
| Transamerica Inflation Opportunities | Class C | 1.71% | March 1, 2025 | |||
| Transamerica Inflation Opportunities | Class I | 0.65% | March 1, 2025 | |||
| Transamerica Inflation Opportunities | Class I2 | 0.53% | March 1, 2025 | |||
| Transamerica Inflation Opportunities | Class I3 | 0.53% | March 1, 2025 | |||
| Transamerica Inflation Opportunities | Class R | 1.00% | March 1, 2025 | |||
| Transamerica Inflation Opportunities | Class R4 | 0.65% | March 1, 2025 | |||
| Transamerica Inflation Opportunities | Class R6 | 0.53% | March 1, 2025 | |||
| Transamerica Intermediate Muni1, 6 | Class A | 0.81% | March 1, 2025 | |||
| Transamerica Intermediate Muni1, 6 | Class C | 1.54% | March 1, 2025 | |||
| Transamerica Intermediate Muni1 | Class I | 0.49% | March 1, 2025 | |||
| Transamerica Intermediate Muni1 | Class I2 | 0.51% | March 1, 2025 | |||
| Transamerica International Equity | Class A | 1.25% | March 1, 2025 | |||
| Transamerica International Equity | Class C | 1.96% | March 1, 2025 | |||
| Transamerica International Equity | Class I | 0.89% | March 1, 2025 | |||
| Transamerica International Equity | Class I2 | 0.80% | March 1, 2025 | |||
| Transamerica International Equity | Class I3 | 0.80% | March 1, 2025 | |||
| Transamerica International Equity | Class R | 1.31% | March 1, 2025 | |||
| Transamerica International Equity | Class R4 | 1.06% | March 1, 2025 | |||
| Transamerica International Equity | Class R6 | 0.80% | March 1, 2025 | |||
| Transamerica International Focus | Class A | 1.20% | March 1, 2025 | |||
| Transamerica International Focus | Class C | 1.95% | March 1, 2025 | |||
| Transamerica International Focus2 | Class I | 0.97% | March 1, 2025 | |||
| Transamerica International Focus | Class I2 | 0.87% | March 1, 2025 | |||
| Transamerica International Focus | Class R | 1.55% | March 1, 2025 | |||
| Transamerica International Focus | Class R4 | 1.20% | March 1, 2025 | |||
| Transamerica International Focus | Class R6 | 0.87% | March 1, 2025 | |||
| Transamerica International Small Cap Value | Class I | 1.16% | March 1, 2025 | |||
| Transamerica International Small Cap Value | Class I2 | 1.06% | March 1, 2025 | |||
| Transamerica International Stock | Class A | 1.25% | March 1, 2025 | |||
| Transamerica International Stock | Class I | 1.00% | March 1, 2025 | |||
| Transamerica International Stock | Class I2 | 0.86% | March 1, 2025 |
| Fund Name | Class | Expense Cap |
EFFECTIVE THROUGH | |||
| Transamerica International Stock | Class R6 | 0.86% | March 1, 2025 | |||
| Transamerica International Sustainable Equity | Class A | 1.10% | March 1, 2025 | |||
| Transamerica International Sustainable Equity | Class I | 0.80% | March 1, 2025 | |||
| Transamerica International Sustainable Equity | Class I2 | 0.70% | March 1, 2025 | |||
| Transamerica International Sustainable Equity | Class R6 | 0.70% | March 1, 2025 | |||
| Transamerica Large Cap Value | Class A | 1.05% | March 1, 2025 | |||
| Transamerica Large Cap Value | Class C | 1.81% | March 1, 2025 | |||
| Transamerica Large Cap Value3 | Class I | 0.77% | March 1, 2025 | |||
| Transamerica Large Cap Value | Class I2 | 0.67% | March 1, 2025 | |||
| Transamerica Large Cap Value | Class R6 | 0.67% | March 1, 2025 | |||
| Transamerica Large Core ESG | Class A | 1.00% | March 1, 2025 | |||
| Transamerica Large Core ESG | Class I3 | 0.57% | March 1, 2025 | |||
| Transamerica Large Core ESG | Class R | 1.15% | March 1, 2025 | |||
| Transamerica Large Core ESG | Class R4 | 0.81% | March 1, 2025 | |||
| Transamerica Large Core ESG | Class R6 | 0.57% | March 1, 2025 | |||
| Transamerica Large Growth | Class I3 | 0.74% | March 1, 2025 | |||
| Transamerica Large Growth | Class R | 1.25% | March 1, 2025 | |||
| Transamerica Large Growth | Class R4 | 0.90% | March 1, 2025 | |||
| Transamerica Large Growth | Class R6 | 0.74% | March 1, 2025 | |||
| Transamerica Large Value Opportunities | Class I3 | 0.65% | March 1, 2025 | |||
| Transamerica Large Value Opportunities | Class R | 1.00% | March 1, 2025 | |||
| Transamerica Large Value Opportunities | Class R4 | 0.75% | March 1, 2025 | |||
| Transamerica Long Credit | Class A | 1.03% | March 1, 2025 | |||
| Transamerica Long Credit | Class C | 1.78% | March 1, 2025 | |||
| Transamerica Long Credit | Class I | 0.67% | March 1, 2025 | |||
| Transamerica Long Credit | Class I2 | 0.58% | March 1, 2025 | |||
| Transamerica Long Credit | Class R6 | 0.58% | March 1, 2025 | |||
| Transamerica Mid Cap Growth | Class A | 1.28% | March 1, 2025 | |||
| Transamerica Mid Cap Growth | Class C | 1.99% | March 1, 2025 | |||
| Transamerica Mid Cap Growth | Class I | 0.92% | March 1, 2025 | |||
| Transamerica Mid Cap Growth | Class I2 | 0.82% | March 1, 2025 | |||
| Transamerica Mid Cap Growth | Class I3 | 0.82% | March 1, 2025 | |||
| Transamerica Mid Cap Growth | Class R | 1.35% | March 1, 2025 | |||
| Transamerica Mid Cap Growth | Class R4 | 0.95% | March 1, 2025 | |||
| Transamerica Mid Cap Growth | Class R6 | 0.82% | March 1, 2025 | |||
| Transamerica Mid Cap Value Opportunities | Class A | 1.20% | March 1, 2025 | |||
| Transamerica Mid Cap Value Opportunities | Class C | 1.91% | March 1, 2025 | |||
| Transamerica Mid Cap Value Opportunities | Class I | 0.90% | March 1, 2025 | |||
| Transamerica Mid Cap Value Opportunities | Class I2 | 0.80% | March 1, 2025 | |||
| Transamerica Mid Cap Value Opportunities | Class I3 | 0.80% | March 1, 2025 | |||
| Transamerica Mid Cap Value Opportunities | Class R | 1.25% | March 1, 2025 | |||
| Transamerica Mid Cap Value Opportunities | Class R4 | 0.90% | March 1, 2025 |
| Fund Name | Class | Expense Cap |
EFFECTIVE THROUGH | |||
| Transamerica Mid Cap Value Opportunities | Class R6 | 0.80% | March 1, 2025 | |||
| Transamerica Multi-Asset Income | Class A | 1.04% | March 1, 2025 | |||
| Transamerica Multi-Asset Income | Class C | 1.76% | March 1, 2025 | |||
| Transamerica Multi-Asset Income | Class I | 0.72% | March 1, 2025 | |||
| Transamerica Multi-Asset Income | Class I2 | 0.68% | March 1, 2025 | |||
| Transamerica Multi-Managed Balanced | Class A | 1.02% | March 1, 2025 | |||
| Transamerica Multi-Managed Balanced | Class C | 1.78% | March 1, 2025 | |||
| Transamerica Multi-Managed Balanced | Class I | 0.79% | March 1, 2025 | |||
| Transamerica Multi-Managed Balanced | Class I2 | 0.73% | March 1, 2025 | |||
| Transamerica Multi-Managed Balanced | Class R | 1.21% | March 1, 2025 | |||
| Transamerica Multi-Managed Balanced | Class R6 | 0.70% | March 1, 2025 | |||
| Transamerica Short-Term Bond | Class A | 0.76% | March 1, 2025 | |||
| Transamerica Short-Term Bond | Class C | 1.54% | March 1, 2025 | |||
| Transamerica Short-Term Bond | Class I | 0.56% | March 1, 2025 | |||
| Transamerica Short-Term Bond | Class I2 | 0.46% | March 1, 2025 | |||
| Transamerica Short-Term Bond | Class I3 | 0.47% | March 1, 2025 | |||
| Transamerica Short-Term Bond | Class R | 1.00% | March 1, 2025 | |||
| Transamerica Short-Term Bond | Class R4 | 0.65% | March 1, 2025 | |||
| Transamerica Short-Term Bond | Class R6 | 0.46% | March 1, 2025 | |||
| Transamerica Small Cap Growth | Class A | 1.40% | March 1, 2025 | |||
| Transamerica Small Cap Growth | Class C | 2.13% | March 1, 2025 | |||
| Transamerica Small Cap Growth | Class I | 1.10% | March 1, 2025 | |||
| Transamerica Small Cap Growth | Class I2 | 1.00% | March 1, 2025 | |||
| Transamerica Small Cap Growth | Class I3 | 1.00% | March 1, 2025 | |||
| Transamerica Small Cap Growth | Class R | 1.54% | March 1, 2025 | |||
| Transamerica Small Cap Growth | Class R4 | 1.15% | March 1, 2025 | |||
| Transamerica Small Cap Growth | Class R6 | 1.00% | March 1, 2025 | |||
| Transamerica Small Cap Value | Class A | 1.29% | March 1, 2025 | |||
| Transamerica Small Cap Value | Class C | 2.05% | March 1, 2025 | |||
| Transamerica Small Cap Value | Class I | 0.99% | March 1, 2025 | |||
| Transamerica Small Cap Value | Class I2 | 0.89% | March 1, 2025 | |||
| Transamerica Small Cap Value | Class I3 | 0.89% | March 1, 2025 | |||
| Transamerica Small Cap Value | Class R | 1.40% | March 1, 2025 | |||
| Transamerica Small Cap Value | Class R4 | 1.10% | March 1, 2025 | |||
| Transamerica Small Cap Value | Class R6 | 0.89% | March 1, 2025 | |||
| Transamerica Small/Mid Cap Value | Class A | 1.26% | March 1, 2025 | |||
| Transamerica Small/Mid Cap Value | Class C | 2.02% | March 1, 2025 | |||
| Transamerica Small/Mid Cap Value | Class I | 0.97% | March 1, 2025 | |||
| Transamerica Small/Mid Cap Value | Class I2 | 0.88% | March 1, 2025 | |||
| Transamerica Small/Mid Cap Value | Class R6 | 0.88% | March 1, 2025 | |||
| Transamerica Stock Index | Class R | 0.65% | May 1, 2025 | |||
| Transamerica Stock Index | Class R4 | 0.30% | May 1, 2025 |
| Fund Name | Class | Expense Cap |
EFFECTIVE THROUGH | |||
| Transamerica Sustainable Bond | Class A | 0.80% | March 1, 2025 | |||
| Transamerica Sustainable Bond | Class C | 1.55% | March 1, 2025 | |||
| Transamerica Sustainable Bond | Class I | 0.50% | March 1, 2025 | |||
| Transamerica Sustainable Bond | Class I2 | 0.45% | March 1, 2025 | |||
| Transamerica Sustainable Bond | Class R | 1.05% | March 1, 2025 | |||
| Transamerica Sustainable Bond | Class R3 | 0.85% | March 1, 2025 | |||
| Transamerica Sustainable Bond | Class R4 | 0.70% | March 1, 2025 | |||
| Transamerica Sustainable Bond | Class R6 | 0.45% | March 1, 2025 | |||
| Transamerica Sustainable Equity Income | Class A | 1.07% | March 1, 2025 | |||
| Transamerica Sustainable Equity Income | Class C | 1.90% | March 1, 2025 | |||
| Transamerica Sustainable Equity Income3 | Class I | 0.88% | March 1, 2025 | |||
| Transamerica Sustainable Equity Income | Class I2 | 0.78% | March 1, 2025 | |||
| Transamerica Sustainable Equity Income | Class R6 | 0.78% | March 1, 2025 | |||
| Transamerica Sustainable Growth Equity | Class A | 0.95% | March 1, 2025 | |||
| Transamerica Sustainable Growth Equity | Class I | 0.65% | March 1, 2025 | |||
| Transamerica Sustainable Growth Equity | Class I2 | 0.55% | March 1, 2025 | |||
| Transamerica Sustainable Growth Equity | Class R6 | 0.55% | March 1, 2025 | |||
| Transamerica UltraShort Bond | Class A | 0.69% | March 1, 2025 | |||
| Transamerica UltraShort Bond | Class C | 1.36% | March 1, 2025 | |||
| Transamerica UltraShort Bond | Class I | 0.35% | March 1, 2025 | |||
| Transamerica UltraShort Bond | Class R6 | 0.30% | March 1, 2025 | |||
| Transamerica Unconstrained Bond | Class A | 1.09% | March 1, 2025 | |||
| Transamerica Unconstrained Bond | Class C | 1.20% | March 1, 2025 | |||
| Transamerica Unconstrained Bond | Class I | 0.85% | March 1, 2025 | |||
| Transamerica Unconstrained Bond | Class I2 | 0.75% | March 1, 2025 | |||
| Transamerica US Growth | Class A | 1.09% | March 1, 2025 | |||
| Transamerica US Growth | Class C | 1.86% | March 1, 2025 | |||
| Transamerica US Growth | Class I | 0.83% | March 1, 2025 | |||
| Transamerica US Growth | Class I2 | 0.74% | March 1, 2025 | |||
| Transamerica US Growth | Class R6 | 0.73% | March 1, 2025 | |||
| Transamerica US Growth | Class T | 0.77% | March 1, 2025 |
| 1. | Acquired fund fees and expenses are included within each class’s expense cap as described in Section 1 of the Agreement. |
| 2. | TAM has contractually agreed to reimburse 0.095% of the transfer agency fee on Class I shares through March 1, 2025. |
| 3. | TAM has contractually agreed to reimburse 0.09% of the transfer agency fee on Class I shares through March 1, 2025. |
| 4. | TAM may voluntarily waive fees and/or reimburse expenses of one or more classes of Transamerica Government Money Market as described in Section 5 of the Agreement. |
| 5. | TAM has contractually agreed to reimburse 0.085% of the transfer agency fee on Class I shares through March 1, 2025. |
| 6. | Transamerica Capital, Inc., has agreed to waive 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, 2025. |
SCHEDULE B
DATED AS MARCH 1, 2024
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 – Moderate Growth Portfolio
Transamerica Asset Allocation – Moderate Portfolio
Transamerica Asset Allocation Intermediate Horizon
Transamerica Asset Allocation Long Horizon
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 Energy Infrastructure
Transamerica Floating Rate
Transamerica Government Money Market
Transamerica High Yield Bond
Transamerica High Yield ESG
Transamerica High Yield Muni
Transamerica Inflation Opportunities
Transamerica Intermediate Muni
Transamerica International Equity
Transamerica International Focus
Transamerica International Small Cap Value
Transamerica International Stock
Transamerica International Sustainable Equity
Transamerica Large Cap Value
Transamerica Large Core ESG
Transamerica Large Growth
Transamerica Large Value Opportunities
Transamerica Long Credit
Transamerica Mid Cap Growth
Transamerica Mid Cap Value Opportunities
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
Transamerica Sustainable Growth Equity
Transamerica UltraShort Bond
Transamerica Unconstrained Bond
Transamerica US Growth
