Transamerica Funds gives details on new Transamerica Floating Rate

By Toni Weeks

San Luis Obispo, Calif., Oct. 31 - Transamerica Funds announced it has recently launched the Transamerica Floating Rate fund, according to an N-1A filing with the Securities and Exchange Commission.

The fund seeks a high level of current income with capital appreciation as a secondary objective. Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in floating-rate loans and floating-rate debt securities. The fund will primarily invest in first-lien, senior secured term loans to corporate issuers, partnerships and other entities, with the majority of the fund's assets invested in high-yield securities.

John F. Bailey, Jason P. Felderman and James K. Schaeffer Jr. are the portfolio managers.

The fund offers class A, class C and class I shares. The ticker symbols are TFLAX, TFLCX and TFLIX, respectively.

Shareholder fees consist of a 4.75% maximum sales load for class A shares and 1% for maximum deferred sales load for class C shares.

Including management fees of 0.61% and the effects of a fee waiver agreement with the investment adviser, total annual fund operating expenses are expected to be 1.1% for class A, 1.8% for class C and 0.8% for class I shares. The fee waiver agreement expires Oct. 31, 2014.

St. Petersburg, Fla.-based Transamerica Asset Management, Inc. is the investment adviser to the fund.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.