Monday, March 03, 2008
News summary by MFWire's editors
fund company has dropped the "IDEX". The company on Monday unveiled its new brand, which will simply be "Transamerica Funds."
“The Transamerica brand has more than 100 years of history, and the shortened name is more identifiable as a Transamerica company,” John Carter
, president and CEO of Transamerica Funds, said in a release.
Also changing are Transamerica's fund names, which will all now begin with Transamerica instead of TA IDEX.
Company Press Release
Transamerica IDEX Mutual Funds unveiled its new moniker today: Transamerica Funds. 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.
“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. “We also look forward to using the collective resources of Transamerica Asset Management Group, which offers a multitude of investment solutions.”
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.
“The result of our wholesaling growth and focus is more investment expertise,” said Mike Petko, Executive Vice President and National Sales Manager for Transamerica Investments. “We believe our increased expertise, combined with a lineup of exceptional investment solutions, will directly benefit financial professionals and their clients.”
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.
About Transamerica Funds
Transamerica Funds has provided investment solutions to financial professionals and their clients since 1985. The company uses multiple firms in the management of its funds, based on the belief that no single firm can be the best at managing all investment strategies all the time. Transamerica Capital, Inc. is the distributor for Transamerica Funds.
About Transamerica Investments and Transamerica Capital, Inc.
Transamerica Investments is an operating division of Transamerica Capital, Inc. Transamerica Capital, Inc. is an AEGON company and a wholesaling broker/dealer. It distributes variable annuities, fixed annuities, life insurance, mutual funds and separately managed accounts. They work with financial professionals at wirehouse, regional, independent and bank firms to provide solutions for clients’ financial needs.
AEGON is one of the world’ s leading life insurance and pension groups, and a provider of investment solutions. AEGON empowers local business units to identify and provide products and services that meet the evolving needs of customers, using distribution channels best suited to local markets. AEGON takes pride in balancing a local approach with the power of an expanding global operation.
With headquarters in The Hague, the Netherlands, AEGON companies employ approximately 30,000 people worldwide. AEGON’ s businesses serve millions of customers in over 20 markets throughout the Americas, Europe and Asia, with major operations in the United States, the Netherlands and the United Kingdom.
Morningstar Associates, LLC is a registered investment advisor and wholly owned subsidiary of Morningstar, Inc.
Mutual funds are subject to market risk, including loss of principal. Before investing, consider the funds' investment objectives, risks, charges and expenses. Contact Transamerica Funds for a prospectus containing this information. Please read it carefully.
This is a news service of Thomson Business Intelligence Service ©2006. This content is for your personal use only, subject to Terms and Conditions. No redistribution allowed.
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