  The functional RG for the random field and random anisotropy O(N)
sigma-models is studied to two loop. The ferromagnetic/disordered (F/D)
transition fixed point is found to next order in d=4+epsilon for N > N_c
(N_c=2.8347408 for random field, N_c=9.44121 for random anisotropy). For N <
N_c the lower critical dimension plunges below d=4: we find two fixed points,
one describing the quasi-ordered phase, the other is novel and describes the
F/D transition. The lower critical dimension can be obtained in an
(N_c-N)-expansion. The theory is also analyzed at large N and a glassy regime
is found.
