Transamerica Series Trust has announced a significant change in its investment management structure, appointing Aegon USA Investment Management, LLC (AUIM) as a new sub-adviser for its Transamerica Madison Diversified Income VP portfolio. This decision, approved by investors during a special meeting on October 7, 2026, marks a strategic shift aimed at enhancing the fund's investment strategies and overall management.

Effective November 1, 2026, AUIM will work alongside J.P. Morgan Investment Management Inc. (JPMorgan) as co-sub-advisers for the portfolio. AUIM will oversee the fixed-income portion, while JPMorgan will manage the equity side. This transition comes as Madison Asset Management, LLC steps down from its role as a sub-adviser.

The changes are expected to refine the fund's investment focus, with AUIM's expertise in fixed-income management complementing JPMorgan's equity strategies. The portfolio will also undergo a name change to Transamerica Multi-Managed Moderately Conservative VP, reflecting its new management structure and investment strategy.

Background

Transamerica Series Trust, an investment vehicle based in Denver, Colorado, operates under the auspices of Transamerica Asset Management, Inc. The trust primarily focuses on providing diversified investment options to its clients, including various mutual funds. The recent filing with the SEC, dated October 30, 2026, outlines the changes in management and investment strategies for the Transamerica Madison Diversified Income VP portfolio.

What the Filing Says

According to the SEC filing (accession number 0001193125-26-441322), the appointment of AUIM as a sub-adviser was approved during the special meeting. The filing states, "Effective on or about November 1, 2026, AUIM and J.P. Morgan Investment Management Inc. will serve as the portfolio's sub-advisers, with AUIM responsible for the fixed-income sleeve and JPMorgan responsible for the equity sleeve." This transition is designed to enhance the portfolio's performance and align it with current market conditions.

Impact

This change in management may affect current and prospective investors in the Transamerica Madison Diversified Income VP portfolio. By bringing in AUIM and JPMorgan, the trust aims to leverage their expertise to improve investment outcomes. The shift could also influence how the portfolio adapts to market fluctuations, particularly in the fixed-income and equity sectors.

What's Next

The filing does not specify what happens next beyond the effective date of the changes. Investors will likely receive further communications regarding the transition and any adjustments to the portfolio's investment strategies.