The Mutual Fund Turns 100

Investment vehicle provides options for diversified financial portfolios

May 6, 2024

For 100 years, pooled investment funds—better known as mutual funds—have allowed Americans to aggregate their assets into a liquid, highly-diversified investment vehicle. The first modern mutual fund was created in 1924 and gave Americans of even modest means an affordable way to save for homeownership, education and retirement. 

The tradition continues today with mutual funds holding more than $22 trillion in assets in the United States as of 2023. Mutual funds have remained affordable as expenses have declined, with average expense ratios for equity and bond mutual funds declining by more than half between 1996 and 2022, according to the Investment Company Institute.  

“Mutual funds have provided an enduring and accessible means for everyday Americans to invest,” said Marijn Smit, head of Transamerica Asset Management, Inc. (TAM), which oversees a family of more than 100 funds managed by some of the best asset managers. “Transamerica mutual funds provide clients of all income levels access to a full range of investment strategies.” TAM is a pioneer in the sub-advised mutual fund business. It takes a diversified ‘investor-first’ approach that seeks to capture the best portfolio management experience of multiple asset managers. 

Transamerica is an insurance, retirement and investment company that focuses on helping everyday Americans protect what’s important to them and save for the future. The company wishes a very happy centenary birthday to the mutual fund.


The Investor First℠ Process is our ongoing commitment to making sure you have access to the investments you deserve from some of the best asset managers in the industry. This process only applies to funds advised by Transamerica Asset Management, Inc. (TAM) and not to non-proprietary funds.

Transamerica Asset Management, Inc. (TAM) is an SEC-registered investment adviser that provides asset management, fund administration and shareholder services for institutional and retail clients. The funds advised and sponsored by TAM include Transamerica Funds and Transamerica Series Trust. Transamerica Funds and Transamerica Series Trust are distributed by Transamerica Capital, Inc. (TCI), member FINRA. TAM is an indirect wholly owned subsidiary of Aegon Ltd., an international life insurance, pension, and asset management company.

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

Mutual funds are sold by prospectus. Before investing, consider the funds' investment objectives, risks, charges, and expenses. This and other important information is contained in the prospectus. Please click here, or contact your financial professional to obtain a prospectus or, if available, a summary prospectus containing this information. Please read it carefully before investing.

Transamerica Funds are advised by Transamerica Asset Management, Inc. (TAM) and distributed by Transamerica Capital, Inc. (TCI) member of FINRA. 

1801 California St., Suite 5200, Denver, CO 80202.