If
the shares are redeemed at the end of each period:
|
Share
Class
|
1
year
|
3
years
|
5
years
|
10
years
|
A
|
$
690
|
$
987
|
$
1,304
|
$
2,201
|
B
|
$
736
|
$
1,028
|
$
1,346
|
$
2,667
|
C
|
$307
|
$
640
|
$1,098
|
$2,369
|
I
|
$101
|
$
315
|
$
547
|
$1,213
|
If
the shares are not redeemed:
|
Share
Class
|
1
year
|
3
years
|
5
years
|
10
years
|
A
|
$
690
|
$
987
|
$
1,304
|
$
2,201
|
B
|
$
236
|
$
728
|
$
1,246
|
$
2,667
|
C
|
$207
|
$640
|
$1,098
|
$2,369
|
I
|
$101
|
$315
|
$
547
|
$1,213
|
Portfolio Turnover:
The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction
costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the fund’s performance.
During the most recent fiscal year, the portfolio turnover
rate for the fund was 153% of the average value of its portfolio.
Principal Investment Strategies:
The fund has two sub-advisers. J.P. Morgan Investment Management Inc. (the “equity sub-adviser”) manages the equity component of the fund and BlackRock Financial Management, Inc. (the
“fixed-income sub-adviser”) manages the fixed-income component of the fund.
The fund varies the percentage of assets invested in any one
type of security in accordance with its sub-advisers’ interpretation of economic and market conditions, fiscal and monetary policy, and underlying securities values. Generally, the fund invests approximately 60% of its assets in equity
securities and 40% of its assets in fixed-income and money market securities (investing at least 25% of its assets in fixed-income senior securities, including debt securities and preferred stocks). The fund’s investment adviser, Transamerica
Asset Management, Inc., monitors the allocation of the fund’s assets between the equity sub-adviser and the fixed-income sub-adviser and rebalances the allocation periodically to maintain these approximate allocations.
•
|
Equity component –
The equity sub-adviser seeks to achieve the fund’s objective by investing, under normal circumstances, at least 80% of the equity component’s net assets in equity securities of large- and
medium-capitalization U.S. companies. The fund may invest in foreign companies. The equity sub-adviser will normally keep the equity component as fully invested in equity securities as practicable. Industry by industry, the fund’s weightings
are generally similar to those of the Standard & Poor’s 500
®
Index (“S&P 500 Index”). The equity sub-adviser normally does not look to overweight or underweight
industries. Holdings by industry sector will normally approximate those of the S&P 500 Index.
|
•
|
Fixed income component –
The fixed income component of the fund is normally invested primarily in investment grade debt securities and U.S. government obligations, mortgage-backed securities guaranteed by U.S. government
agencies and instrumentalities and mortgage-backed securities without government guarantees. Its dollar-weighted average effective maturity generally is between five and fifteen years (and does not exceed thirty years). The fund may also invest in
U.S. Treasury and agency securities, municipal bonds, corporate bonds, asset-backed securities (including collateralized loan obligations, collateralized bond obligations and collateralized debt obligations), high quality, short-term obligations and
repurchase agreements, and in securities of foreign issuers. The fund may invest in securities that are denominated in U.S. dollars and in foreign currencies. Up to 20% of the fixed income component may be invested in any or all of non-dollar
securities, high yield debt securities (commonly known as “junk bonds”) and emerging market securities.
|
The fund may, but is not required to, engage in certain
investment strategies involving derivatives, such as options, futures, forward currency contracts and swaps, including, but not limited to, interest rate, total return and credit default swaps. These investment strategies may be employed to attempt
to alter investment characteristics of the fund’s portfolio (including to attempt to mitigate risk of loss in some fashion, or “hedge”), but they also may be used to generate income.
Under adverse or unstable market, economic or political
conditions, the fund may take temporary defensive positions in cash and short-term debt securities without limit. During periods of defensive investing, it will be more difficult for the fund to achieve its objective.
Principal Risks:
Risk is inherent in all investing. Many factors affect the fund's performance. There is no assurance the fund will meet its investment objective. The value of your investment in the fund, as well as
the amount of return you receive on your