Strategy. The portfolio is a fund of funds. The portfolios sub-adviser, J.P. Morgan Investment Management Inc. (the sub-adviser), seeks to achieve the portfolios investment objective by investing its assets primarily in a broad mix of underlying Transamerica funds that TAM has designated as available for investment by the portfolio (underlying portfolios). The portfolio expects to normally allocate its assets among underlying portfolios with the goal of achieving exposure targets over time of approximately 35% of its net assets in equities, which may include stocks, real estate securities, commodity-related securities and alternative investments, and approximately 65% of its net assets in fixed-income, which may include bonds, cash equivalents and other debt securities. The actual percentage allocations at any time may vary. The … Show more… The portfolio is a fund of funds. The portfolios sub-adviser, J.P. Morgan Investment Management Inc. (the sub-adviser), seeks to achieve the portfolios investment objective by investing its assets primarily in a broad mix of underlying Transamerica funds that TAM has designated as available for investment by the portfolio (underlying portfolios). The portfolio expects to normally allocate its assets among underlying portfolios with the goal of achieving exposure targets over time of approximately 35% of its net assets in equities, which may include stocks, real estate securities, commodity-related securities and alternative investments, and approximately 65% of its net assets in fixed-income, which may include bonds, cash equivalents and other debt securities. The actual percentage allocations at any time may vary. The sub-adviser may increase equity exposure to approximately 50% of net assets or may decrease equity exposure to zero, and may increase fixed-income exposure to approximately 100% of net assets or may decrease fixed-income exposure to approximately 50% of net assets, subject to the sub-advisers multi-factor risk management framework. The risk management framework is a quantitatively driven process that makes asset allocation recommendations and may suggest a maximum equity exposure and equity exposure reductions based on a set of asset class momentum signals and an expected portfolio level volatility signal. Notwithstanding the portfolios equity target and any maximum equity exposure limit imposed under the risk management framework, the sub-adviser may elect to allocate fewer assets to equities and more assets to fixed-income when it believes it is advisable to do so. The portfolio may not achieve its stated asset mix goal. In seeking to achieve the investment objective of the portfolio, the sub-adviser employs an investment process consisting of four integrated components: long-term strategic asset allocation, underlying strategy and portfolio selection, active or tactical asset allocation and the risk management framework. For the first three components, the sub-advisers portfolio management team draws on the analysis produced by dedicated research and strategy teams who support the investment process by generating qualitative and quantitative research and insights, including on the underlying portfolios. For the fourth component, the portfolio management team draws on the output of the risk management framework. As part of its investment process, the sub-adviser selects equity and fixed-income underlying portfolios and rebalances the portfolios assets among the selected underlying portfolios. The underlying portfolios include portfolios sub-advised by the sub-adviser, and consistent with the portfolios objective and strategies, the sub-adviser is permitted to invest any portion of the portfolios assets in underlying portfolios which it sub-advises. When choosing among potential underlying portfolios, the sub-adviser faces a conflict of interest because it will receive additional fees when it selects underlying portfolios for which it also acts as sub-adviser. For more information on the sub-advisers conflicts of interest, see Appendix B Portfolio Managers to the SAI. Exposure to high yield bonds (commonly known as junk bonds) and floating rate loans together generally will not exceed 10% of the portfolios net assets. Junk bonds are high-risk debt securities rated below investment grade (that is, securities rated below BBB by Standard & Poors or Fitch or below Baa by Moodys or, if unrated, determined to be of comparable quality by the portfolios sub-adviser). Each underlying portfolio has its own investment objective, principal investment strategies and investment risks. The sub-adviser for each underlying portfolio decides which securities to purchase and sell for that underlying portfolio. The portfolios ability to achieve its investment objective depends largely on the performance of the underlying portfolios in which it invests. The Underlying Portfolios section of the prospectus lists the underlying portfolios currently available for investment by the portfolio, provides a summary of their respective investment objectives and principal investment strategies, and identifies certain risks of those portfolios. It is not possible to predict the extent to which the portfolio will be invested in a particular underlying portfolio at any time. The portfolio may be a significant shareholder in certain underlying portfolios. The portfolio may have exposure to derivatives instruments, such as options, futures or forward contracts and swaps through its investments in the underlying portfolios. The portfolio also may, but is not required to, invest in derivative instruments such as futures contracts for a variety of purposes, including as a means to manage equity and fixed-income exposure (including regularly using derivatives for purposes of complying with the risk management framework) without having to purchase or sell underlying portfolios and to increase the portfolios return as a non-hedging strategy that may be considered speculative. For example, when the level of market volatility is increasing, the sub-adviser may limit the portfolios equity exposure by shorting or selling long futures positions on an index. It is anticipated that any derivatives usage by the portfolio would primarily involve the use of exchange-traded equity index, U.S. Treasury and currency futures, but the portfolio also could utilize other types of derivatives. The use of derivatives may be deemed to involve the use of leverage because the portfolio is not required to invest the full market value of the contract upon entering into the contract but participates in gains and losses on the full contract price and because the portfolios use of derivative instruments may result in its exposure exceeding 100% of portfolio value. The portfolio may maintain a significant percentage of its assets in cash and cash equivalent instruments, some of which may serve as margin for the portfolios obligations under derivatives transactions. The portfolio may invest in repurchase agreements. TAM may change the underlying portfolios and the sub-adviser may change the portfolios asset allocations and underlying portfolios at any time without notice to shareholders and without shareholder approval. Show less