AMENDED AND RESTATED EXPENSE LIMITATION AGREEMENT
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: |
| |
| Xxxx X. Xxxxxx | ||
| Assistant General Counsel II and Assistant Secretary | ||
| TRANSAMERICA FUNDS | ||
| By: |
| |
| 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, 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 | % | Xxxxx 0, 0000 | ||||||
| Xxxxxxxxxxxx Xxxx Xxxxx XXX |
Class A | 1.00 | % | Xxxxx 0, 0000 | ||||||
| Xxxxxxxxxxxx Xxxx Xxxxx XXX |
Class C | 1.75 | % | Xxxxx 0, 0000 | ||||||
| Xxxxxxxxxxxx Xxxx Xxxxx XXX0 |
Class I | 0.85 | % | Xxxxx 0, 0000 | ||||||
| Xxxxxxxxxxxx Xxxx Xxxxx XXX |
Class I2 | 0.75 | % | Xxxxx 0, 0000 | ||||||
| Xxxxxxxxxxxx Xxxx Xxxxx XXX |
Class R | 1.25 | % | Xxxxx 0, 0000 | ||||||
| Xxxxxxxxxxxx Xxxx Xxxxx XXX |
Class R3 | 1.15 | % | Xxxxx 0, 0000 | ||||||
| Xxxxxxxxxxxx Xxxx Xxxxx XXX |
Class R4 | 1.00 | % | Xxxxx 0, 0000 | ||||||
| Xxxxxxxxxxxx Xxxx Xxxxx XXX |
Class R6 | 0.75 | % | Xxxxx 0, 0000 | ||||||
| Xxxxxxxxxxxx Xxxx Xxxxx Xxxx0 |
Class A | 1.01 | % | Xxxxx 0, 0000 | ||||||
| Xxxxxxxxxxxx Xxxx Xxxxx Xxxx0 |
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 | % | Xxxxx 0, 0000 | ||||||
| Xxxxxxxxxxxx Xxxxx-Xxxxx Income8 |
Class A | 1.12 | % | Xxxxx 0, 0000 | ||||||
| Xxxxxxxxxxxx Xxxxx-Xxxxx Income8 |
Class C | 1.87 | % | Xxxxx 0, 0000 | ||||||
| Xxxxxxxxxxxx Xxxxx-Xxxxx Income8 |
Class I | 0.72 | % | Xxxxx 0, 0000 | ||||||
| Xxxxxxxxxxxx Xxxxx-Xxxxx 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
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 |
