Transamerica Multi-Asset Income I
TSHIX
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- Transamerica Multi-Asset Income I (TSHIX) is an open-end mutual fund that seeks current income and long-term capital appreciation through a diversified, actively managed portfolio of U.S. stocks, preferred stocks, high-yield credit securities, and other income-producing assets. The fund, subadvised by Aegon USA Investment Management, LLC (formerly Thompson, Siegel & Walmsley), employs a tactical allocation strategy across common equities (typically 20%-60%, focusing on companies with $3 billion+ market capitalization), high-yield bonds (20%-60%, emphasizing higher-quality issuers with limited CCC-rated exposure), and preferred securities (0%-40%), utilizing top-down macroeconomic analysis and bottom-up fundamental research to target a yield premium of 300-500 basis points over the S&P 500 dividend yield while aiming for downside protection. It caters primarily to institutional and retirement-focused investors seeking moderate allocation exposure in the large-value style, with assets under management of approximately $677 million, a net expense ratio of 0.72%, and a portfolio turnover rate of 37%. The fund operates within the broader Transamerica Funds family, managed by Transamerica Asset Management, Inc., a subsidiary of Transamerica, which traces its origins to 1904 and serves as the U.S. retail asset management arm of Aegon N.V.; Transamerica is headquartered in Baltimore, Maryland, with key operations in Cedar Rapids, Iowa, and Denver, Colorado. Geographically, TSHIX maintains a U.S.-centric focus on domestic equities and fixed income, with minor non-U.S. bond exposure comprising about 1.3% of assets. Launched in Class I shares around 2014 under lead portfolio manager William M. Bellamy, the fund evolved from the former Transamerica Strategic High Income Fund, which was renamed Transamerica Multi-Asset Income effective May 1, 2019. In recent developments, Transamerica has expanded its investment offerings, including the launch of two actively managed ETFs—Transamerica Large Value Active ETF (TALV) and Transamerica Bond Active ETF (TABD)—on the New York Stock Exchange in December 2025, leveraging subadvisors with established mutual fund strategies to enhance portfolio diversification and tax efficiency. Additionally, in June 2025, Transamerica partnered with SWBC to introduce the SWBC Retirement Plan Exchange, streamlining access to retirement plans for small businesses and bolstering its defined contribution ecosystem. Earlier, in 2022, Transamerica acquired TAG Resources to strengthen pooled employer retirement plan capabilities for third-party administrators, financial advisors, and broker-dealers. These initiatives reflect ongoing strategic enhancements in retirement and multi-asset solutions amid a focus on middle-market growth.