According to a press release, the shortened name better leverages Transamerica’s strong brand recognition and is part of a recent company evolution as an asset manager. Transamerica Funds streamlined its lineup of open funds, increased the size and expertise of its sales force and joined Transamerica Asset Management Group, which had more than $50 billion in assets under management as of March 1.
In addition to these changes, Transamerica Funds simplified its fund names on March 1. All names now start with Transamerica instead of TA IDEX, making fund information easier to find on financial software and websites, and in financial publications.
Transamerica Funds also made changes to its offerings and distribution. In March 2006, the company began to close several funds to new investors, and it now divides its offerings into the Morningstar Series of multi-manager funds-of-funds — with strategic allocation, fund selection, and portfolio construction by Morningstar Associates, LLC — and the Transamerica Investment Management Series.
Meanwhile, Transamerica Investments, an operating division of the funds’ distributor, grew its wholesaling team nationwide and now has wholesalers focused exclusively on asset management, according to the press release.
“The Transamerica brand has more than 100 years of history, and the shortened name is more identifiable as a Transamerica company,” said John Carter, President and CEO of Transamerica Funds, in the press release. “We also look forward to using the collective resources of Transamerica Asset Management Group, which offers a multitude of investment solutions.’