Strategy. The portfolio is a fund of funds. The portfolio seeks to achieve its objective by investing its assets in a combination of Transamerica funds (the underlying portfolios) selected by the portfolios sub-adviser. The portfolio allocates its assets to obtain equity and fixed-income exposure based on the sub-advisers tactical asset allocation model. The portfolios target level of equity exposure is determined monthly by the model based on specified market factors the 10-year swap rate and implied volatility. Under normal market conditions, the portfolios investments in domestic and international equity funds will vary between 40% and 90% of the portfolios net assets, with the remaining portion invested in domestic and international fixed-income funds, which may include money market funds. Equity exposure increases … Show more… The portfolio is a fund of funds. The portfolio seeks to achieve its objective by investing its assets in a combination of Transamerica funds (the underlying portfolios) selected by the portfolios sub-adviser. The portfolio allocates its assets to obtain equity and fixed-income exposure based on the sub-advisers tactical asset allocation model. The portfolios target level of equity exposure is determined monthly by the model based on specified market factors the 10-year swap rate and implied volatility. Under normal market conditions, the portfolios investments in domestic and international equity funds will vary between 40% and 90% of the portfolios net assets, with the remaining portion invested in domestic and international fixed-income funds, which may include money market funds. Equity exposure increases with higher 10-year swap rates and lower implied volatility. Equity exposure decreases with lower 10-year swap rates and higher implied volatility. The portfolios sub-adviser, BlackRock Investment Management, LLC (the sub-adviser), may not vary or override the target level equity exposure regardless of the sub-advisers view of the market outlook. Based on the models target allocation, the sub-adviser selects among underlying equity and fixed-income portfolios and rebalances the portfolios assets among the underlying portfolios to maintain the target weightings. The underlying portfolios may include one or more portfolios sub-advised by the sub-adviser or its affiliates. The portfolio may also invest directly in securities, including up to 20% of its assets in exchange traded funds (ETFs), U.S. government securities, short-term commercial paper, cash and cash equivalents. In addition, the portfolio may, but is not required to, invest in equity index futures in an effort to efficiently manage reallocations, minimize disruption to underlying funds and enhance liquidity for the portfolio. 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 the underlying 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 sub-adviser may change the portfolio's asset allocations (consistent with the model) and underlying portfolios at any time without notice to shareholders and without shareholder approval. Show less