A news release said the new Class I shares are designed primarily to serve the needs of certain institutional investors including fee-based programs, pension plans, endowments, and foundations. Other investors meeting certain eligibility requirements may also purchase Transamerica’s Class I shares. The new shares were available beginning Monday.
Funds offering the new shares are the Conservative, Moderate, Moderate Growth, and Growth Portfolios of the Transamerica Asset Allocation Funds, as well as the Alternative Strategies Portfolio and International Portfolio of the Transamerica Multi-Manager Funds.Several stock funds will offer the Class I shares including Transamerica’s Diversified Equity, Equity, Focus, Growth Opportunities, and Small/Mid Cap Value Funds.
On the fixed-income side, Transamerica’s High Yield Bond, Flexible Income, and Short-Term Bond Funds will offer Class I shares. Transamerica’s Balanced and Money Market Funds also will offer Class I shares.
Transamerica’s Class I shares carry a lower expense structure than the retail shares currently offered by the complex. A minimum investment of $1 million is required for Class I shares, but this requirement may be waived for certain financial intermediaries, including fee-based programs, pension plans, and financial intermediaries that submit trades on behalf of underlying investors.
Class I shares are available directly from Transamerica as well as through third-party retirement platforms, major mutual fund supermarkets, wirehouses, bank channels, and independent registered investment advisers, the company said.
More information about the company is available at Transamericafunds.com.