Transamerica
International Small Cap Value
Summary Prospectus
January 4, 2013
Class
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CLASS
I
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Ticker
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TISVX
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This summary prospectus is designed to provide shareholders
with key fund information in a clear and concise format. Before you invest, you may want to review the fund’s prospectus, which contains more information about the fund and its risks. You can find the fund’s prospectus and other
information about the fund, including the fund’s statement of additional information and most recent reports to shareholders, online at http://www.transamericafunds.com/prospectus. You can also get this information at no cost by calling
866-414-6349 or by sending an e-mail request to orders@mysummaryprospectus.com, or from your financial professional. The fund’s prospectus, dated January 4, 2013, and statement of additional information, dated January 4, 2013, as supplemented
from time to time, are incorporated by reference into this summary prospectus. The fund commenced operations on January 4, 2013. The semi-annual report for the fund for the period ending April 30, 2013 will be sent to shareholders once it becomes
available.
Investment Objective:
Seeks maximum long-term total return.
Fees and Expenses:
This table describes the fees and expenses that you may pay if you buy and hold shares of the fund.
Shareholder
Fees (fees paid directly from your investment)
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Maximum
sales charge (load) imposed on purchases (as a percentage of offering price)
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None
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Maximum
deferred sales charge (load) (as a percentage of purchase price or redemption proceeds, whichever is lower)
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None
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Annual
Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
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Management
fees
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0.93%
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Distribution
and service (12b-1) fees
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None
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Other
expenses
a
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0.39%
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Total
annual fund operating expenses
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1.32%
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Fee
waiver and/or expense reimbursement
b
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0.10%
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Total
annual fund operating expenses after fee waiver and/or expense reimbursement
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1.22%
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a
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Other expenses are based on
estimates for the current fiscal year.
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b
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Contractual arrangements have
been made with the fund’s investment adviser, Transamerica Asset Management, Inc. (“TAM”), through January 4, 2014, to waive fees and/or reimburse fund expenses to the extent that the fund’s total operating expenses exceed
1.22%, excluding, as applicable, 12b-1 fees, acquired fund fees and expenses, interest, taxes, brokerage commissions, dividend and interest expenses on securities sold short, extraordinary expenses and other expenses not incurred in the ordinary
course of the fund’s business. TAM is entitled to reimbursement by the fund of fees waived or expenses reduced during any of the previous 36 months if on any day or month the estimated annualized fund operating expenses are less than the cap.
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Example:
This Example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the fund for the time
periods indicated and then redeem all shares at the end of those periods (unless otherwise indicated). The Example also assumes that your investment has a 5% return each year and that the fund’s operating expenses remain the same. Although
your actual costs may be higher or lower, based on these assumptions your costs would be:
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.
Principal Investment Strategies:
The fund’s sub-adviser, Thompson, Siegel & Walmsley, LLC (the “sub-adviser”), invests under normal circumstances, at least 80% of the fund’s net assets (plus the amount of
borrowings, if any, for investment purposes) in small-capitalization companies. The fund considers small-cap companies to be those with market capitalizations between $200 million and $5 billion at the time of investment. The fund primarily invests
in equity securities of small-cap companies located outside the United States. The sub-adviser will seek stocks that it believes are undervalued. The fund expects capital growth to be the predominant component of its total return.