TRANSAMERICA FUNDS

Transamerica Energy Infrastructure

(formerly, Transamerica MLP & Energy Income) (the “fund”)

Supplement to the Currently Effective Prospectuses and Summary Prospectuses

The “Annual Fund Operating Expenses” table included in the “Fees and Expenses” section of the Prospectuses and Summary Prospectuses with respect to the fund is deleted in its entirety and replaced with the following, as applicable:

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Class	A	C	I	I2
Management fees1	1.05%	1.05%	1.05%	1.05%
Distribution and service (12b-1) fees	0.25%	1.00%	0.00%	0.00%
Other expenses	0.31%	0.34%	0.20%	0.09%
Total annual fund operating expenses	1.61%	2.39%	1.25%	1.14%
Fee waiver and/or expense reimbursement2	0.01%	0.04%	0.00%	0.00%
Total annual fund operating expenses after fee waiver and/or expense reimbursement	1.60%	2.35%	1.25%	1.14%

¹Management fees have been restated to reflect a reduction in management fees effective June 1, 2021. 

²Contractual arrangements have been made with the fund’s investment manager, Transamerica Asset Management, Inc. (“TAM”), through March 1, 2022 to waive fees and/or reimburse fund expenses to the extent that total annual fund operating expenses exceed 1.60% for Class A shares, 2.35% for Class C shares, 1.35% for Class I shares and 1.25% for Class I2 shares, excluding, as applicable, 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. These arrangements cannot be terminated prior to March 1, 2022 without the Board of Trustees’ consent. TAM is permitted to recapture amounts waived and/or reimbursed to a class during any of the 36 months from the date on which TAM waived fees and/or reimbursed expenses for the class if the class’ total annual fund operating expenses have fallen to a level below the limits described above. In no case will TAM recapture any amount that would result, on any particular business day of the fund, in the class’ total annual operating expenses exceeding the applicable limits described above or any other lower limit then in effect.

The “Example” table included in the Prospectuses and Summary Prospectuses with respect to the fund is deleted in its entirety and replaced with the following, as applicable: 

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. Only the 1 year dollar amount shown below reflects TAM’s agreement to waive fees and/or reimburse fund expenses.  Although your actual costs may be higher or lower, based on these assumptions your costs would be:

If the shares are redeemed at the end of each period:

	1 year	3 years	5 years	10 years
Class A	$704	$1,029	$1,377	$2,355
Class C	$338	$742	$1,272	$2,723
Class I	$127	$397	$686	$1,511
Class I2	$116	$362	$628	$1,386

If the shares are not redeemed:

	1 year	3 years	5 years	10 years
Class A	$704	$1,029	$1,377	$2,355
Class C	$238	$742	$1,272	$2,723
Class I	$127	$397	$686	$1,511
Class I2	$116	$362	$628	$1,386

* * *

Investors Should Retain this Supplement for Future Reference

January 7, 2022