U.S. Equity Large Growth Fund

INVESTMENT OBJECTIVE

The fund seeks to provide a high level of capital appreciation. Current income is a secondary goal.

FUND FACTS

Net Assets	$838.52 Million (All Share Classes)
Sub-Adviser	Jennison Associates LLC and Wellington Management Company LLP
Primary Benchmark	Russell 1000® Growth Index
Secondary Benchmark	S&P 500®
Dividend Frequency	Annually
Morningstar Category	Large Growth

PORTFOLIO CHARACTERISTICS

Inception Dates	Class R - 03/10/2017 Class R4 - 09/11/2000 Class I3 - 03/10/2017
Number of Holdings	106
Portfolio Turnover	21% (10/31/2017)
30-Day SEC Yield (Subsidized)	Class R - -0.44% Class R4 - -0.14% Class I3 - 0.12%
30-Day SEC Yield (Unsubsidized)	Class R - -0.44% Class R4 - -0.19% Class I3 - 0.07%
12-Month Distribution Yield	Class R - 0.28% Class R4 - 0.44% Class I3 - 0.65%

PORTFOLIO MANAGER(S)

Jennison Associates LLC
Blair A. Boyer
Michael A. Del Balso
Spiros Segalas

Wellington Management Company LLP
Mammen Chally, CFA
Douglas McLane, CFA
David Siegle, CFA

PRODUCT PROFILE

A domestic large cap growth equity fund managed by multiple sub-advisers, each of which uses a consistent and disciplined process based on fundamental research.

Jennison’s deeply experienced team researches and evaluates individual company fundamentals to uncover franchises capable of maintaining above-average long-term growth.
Wellington focuses on companies with improving quality and attractive fundamentals, and combines valuation discipline and robust portfolio construction that can lead to more predictable and consistent excess returns.

SUB-ADVISER

Jennison

Wellington Mangement

Jennison Associates LLC (Jennison) has earned a reputation of excellence by fulfilling client investment needs since 1969. The firm's commitment to rigorous fundamental research, bottom-up stock selection, and a highly interactive investment process drives investment performance and is the cornerstone of Jennison's investment philosophy. Jennison believes this unwavering commitment to the process, combined with a dedication to meeting client objectives, has led to its long-term investment success.

With roots to 1928, Wellington Management is one of the largest independent investment management firms in the world. Wellington Management serves as a private firm whose sole business is investment management and to serve as investment adviser for institutional clients in over 40 countries. The firm's most distinctive strength is commitment to proprietary, independent research—the foundation upon which their investment approaches are built. Wellington Management's commitment to investment excellence is evidenced by their significant presence and long-term track records in nearly all sectors of the liquid, global securities markets.

The Transamerica Large Growth fund is newly organized. The fund acquired the assets and assumed the liabilities of three Transamerica Partners funds, including Transamerica Partners Institutional Large Growth (the “predecessor fund”), on March 10, 2017, and the predecessor fund is the accounting and performance survivor of the reorganizations. This means that the predecessor fund’s financial and performance history became the financial and performance history of the fund. In the reorganization of the predecessor fund, shareholders of the predecessor fund received Class R4 shares of the fund. The performance of Class R4 shares includes the performance of the predecessor fund prior to the reorganization, and has not been restated to reflect the estimated annual operating expenses of Class R4 shares. Please read the prospectus for more information.

FUND PERFORMANCE

*Expense ratios are as-of the most recent prospectus. Contractual arrangements have been made with the fund’s investment manager, Transamerica Asset Management, Inc. (“TAM”), through May 1, 2018.
**Reflects average annual returns. Returns for funds that are less than one year old are not annualized.

The performance data presented here represents past performance; Past performance is not indicative of future results. Current performance may be lower or higher than the performance data quoted. The investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Performance may not be available for all periods indicated. Net Asset Value (NAV) returns include reinvestment of dividends and capital gains, but do not reflect any sales charges. If a sales charge had been deducted, the results would have been lower. Public Offering Price (POP) returns include reinvestment of dividends and capital gains, and reflect the maximum sales charge.

There are no sales charges for Class R4 shares. Class R shares are available only to eligible retirement plans

There are no sales charges on class I3 shares. Class I3 share are currently primarily offered for investment to institutional investing, but not limited to, fee-based programs, pension plans, and certain endowment plans and foundations.

Performance figures reflect any fee waivers and/or expense reimbursements by the Investment Manager. Without such waivers and/or reimbursements, the performance would be lower. Future waivers and/or reimbursements are at the discretion of the Investment Manager.

1 Year returns reflect total return.

RISK MEASURES
Standard Deviation is a statistical measurement that helps to gauge the fund's historical volatility. Historical Beta illustrates a fund's sensitivity to price movements in relation to a benchmark index. Alpha is a coefficient measuring the portion of a fund's return arising from specific (non-market) risk. Tracking Error is the difference between the price behavior of a fund and the price behavior of a benchmark. R-Squared is a statistical measure that represents the percentage of a fund's movements that can be explained by movements in a benchmark index. Sharpe Ratio is a risk-adjusted measure calculated by using standard deviation and excess return to determine reward per unit of risk. Information Ratio is a ratio of portfolio returns above those of a benchmark compared to the volatility of those returns.

U.S. allocations may include U.S. territories and possessions.

The Net Other Assets (Liabilities) category may include, but is not limited to, repurchase agreements, reverse repurchase agreements, security lending collateral, forward foreign currency contracts, and cash collateral.

The Russell 1000® Growth Index is an unmanaged index used as a general measure of market performance. It is not possible to invest directly into an index. Calculations assume dividends and capital gains are reinvested and do not include any managerial expenses. Russell Investment Group is the source and owner of the trademarks, service marks, and copyrights related to the Russell indexes. Russell® is a trademark of Russell Investment Group.

Equity funds invest in equity securities, which include common stock, preferred stock, and convertible securities. Because such securities represent ownership in a corporation, they tend to be more volatile than ﬁxed income or debt securities, which do not represent ownership.

Shares may be sold (or “redeemed”) on any day the New York Stock Exchange is open for business. Proceeds from the redemption of shares will usually be sent to the redeeming shareholder within three business days after receipt in good order of a request for redemption. However, Transamerica Funds has the right to take up to seven days to pay redemption proceeds, and may postpone payment under certain circumstances, as authorized by law.

Due to rounding, not all of the percentages will equal 100%.

Mutual funds are subject to market risk, including the loss of principal. Past performance is not indicative of future results.

Shares of the funds may only be sold by offering the funds’ prospectus. You should consider the investment objectives, risks, charges, and expenses of the funds carefully before investing. The prospectus contains this and additional important information regarding the fund. To obtain the prospectus and/or summary prospectus, please contact your financial professional or click here. The prospectus should be read carefully before investing.

Transamerica Funds are advised by Transamerica Asset Management, Inc. and distributed by Transamerica Capital, Inc.

Not insured by FDIC or any federal government agency. May lose value. Not a deposit of or guaranteed by any bank, bank affiliate, or credit union.

P121537A20917