American Funds Summary prospectus August 1, 2020 |
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Class | A | C | T | F-1 | F-2 | F-3 | 529-A | 529-C | 529-E | 529-T | 529-F-1 |
BFCAX | BFCCX | TFBBX | BFCFX | BFCGX | CFBFX | COBAX | COBCX | COBEX | TABBX | COBFX | |
Class | 529-F-2 | 529-F-3 | R-1 | R-2 | R-2E | R-3 | R-4 | R-5E | R-5 | R-6 | |
FFBBX | FBCDX | RCBAX | RCBBX | RCBGX | RCBCX | RCBDX | RCBHX | RCBEX | RCBFX |
Beginning January 1, 2021, as permitted by regulations adopted by the U.S. Securities and Exchange Commission, we intend to no longer mail paper copies of the fund’s shareholder reports, unless specifically requested from American Funds or your financial intermediary, such as a broker-dealer or bank. Instead, the reports will be made available on the Capital Group website (capitalgroup.com); you will be notified by mail and provided with a website link to access the report each time a report is posted. If you have already elected to receive shareholder reports electronically, you will not be affected by this change and do not need to take any action. If you prefer to receive shareholder reports and other communications electronically, you may update your mailing preferences with your financial intermediary, or enroll in e-delivery at capitalgroup.com (for accounts held directly with the fund).
You may elect to receive paper copies of all future reports free of charge. If you invest through a financial intermediary, you may contact your financial intermediary to request that you continue to receive paper copies of your shareholder reports. If you invest directly with the fund, you may inform American Funds that you wish to continue receiving paper copies of your shareholder reports by contacting us at (800) 421-4225. Your election to receive paper reports will apply to all funds held with American Funds or through your financial intermediary.
Before you invest, you may want to review the fund’s prospectus and statement of additional information, which contain more information about the fund and its risks. You can find the fund’s prospectus, statement of additional information, reports to shareholders and other information about the fund online at capitalgroup.com/prospectus. You can also get this information at no cost by calling (800) 421-4225 or by sending an email request to prospectus@americanfunds.com. The current prospectus and statement of additional information, each dated August 1, 2020 (and in each case, as supplemented to date), are incorporated by reference into this summary prospectus. |
Investment objective The fund’s investment objective is to seek to provide maximum total return consistent with capital preservation and prudent risk management.
Fees and expenses of the fund This table describes the fees and expenses that you may pay if you buy and hold shares of the fund. In addition to the fees and expenses described below, you may also be required to pay brokerage commissions on purchases and sales of Class F-2, F-3, 529-F-2 or 529-F-3 shares of the fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $100,000 in American Funds. More information about these and other discounts is available from your financial professional, in the “Sales charge reductions and waivers” sections on page 37 of the prospectus and on page 79 of the fund’s statement of additional information, and in the sales charge waiver appendix to this prospectus.
Shareholder fees (fees paid directly from your investment) | |||||||
Share class: | A | 529-A | C and 529-C |
529-E | T and 529-T |
All F and 529-F share classes | All R share classes |
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) | 3.75% | 3.50% | none | none | 2.50% | none | none |
Maximum deferred sales charge (load) (as a percentage of the amount redeemed) | 1.001 | 1.001 | 1.00% | none | none | none | none |
Maximum sales charge (load) imposed on reinvested dividends | none | none | none | none | none | none | none |
Redemption or exchange fees | none | none | none | none | none | none | none |
American Funds Corporate Bond Fund / Summary prospectus 1
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | |||||||
Share class: | A | C | T | F-1 | F-2 | F-3 | 529-A |
Management fees2 | 0.38% | 0.38% | 0.38% | 0.38% | 0.38% | 0.38% | 0.38% |
Distribution and/or service (12b-1) fees | 0.30 | 1.00 | 0.25 | 0.25 | none | none | 0.24 |
Other expenses | 0.21 | 0.21 | 0.21 | 0.22 | 0.20 | 0.11 | 0.26 |
Total annual fund operating expenses | 0.89 | 1.59 | 0.84 | 0.85 | 0.58 | 0.49 | 0.88 |
Expense reimbursement3 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 |
Total annual fund operating expenses after expense reimbursement | 0.85 | 1.55 | 0.80 | 0.81 | 0.54 | 0.45 | 0.84 |
Share class: | 529-C | 529-E | 529-T | 529-F-1 | 529-F-2 | 529-F-3 | R-1 |
Management fees2 | 0.38% | 0.38% | 0.38% | 0.38% | 0.38% | 0.38% | 0.38% |
Distribution and/or service (12b-1) fees | 1.00 | 0.50 | 0.25 | 0.252 | none | none | 1.00 |
Other expenses | 0.27 | 0.20 | 0.27 | 0.26 | 0.224 | 0.164 | 0.14 |
Total annual fund operating expenses | 1.65 | 1.08 | 0.90 | 0.89 | 0.60 | 0.54 | 1.52 |
Expense reimbursement3 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 |
Total annual fund operating expenses after expense reimbursement | 1.61 | 1.04 | 0.86 | 0.85 | 0.56 | 0.50 | 1.48 |
Share class: | R-2 | R-2E | R-3 | R-4 | R-5E | R-5 | R-6 |
Management fees2 | 0.38% | 0.38% | 0.38% | 0.38% | 0.38% | 0.38% | 0.38% |
Distribution and/or service (12b-1) fees | 0.75 | 0.60 | 0.50 | 0.25 | none | none | none |
Other expenses | 0.43 | 0.31 | 0.25 | 0.20 | 0.26 | 0.15 | 0.11 |
Total annual fund operating expenses | 1.56 | 1.29 | 1.13 | 0.83 | 0.64 | 0.53 | 0.49 |
Expense reimbursement3 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 |
Total annual fund operating expenses after expense reimbursement | 1.52 | 1.25 | 1.09 | 0.79 | 0.60 | 0.49 | 0.45 |
1 | A contingent deferred sales charge of 1.00% applies on certain redemptions made within 18 months following purchases of $1 million or more made without an initial sales charge. Contingent deferred sales charge is calculated based on the lesser of the offering price and market value of shares being sold. |
2 | Restated to reflect current fees. |
3 | The investment adviser is currently reimbursing a portion of the other expenses for each share class. This reimbursement will be in effect through at least October 30, 2021. The adviser may elect at its discretion to extend, modify or terminate the reimbursement at that time. |
4 | Based on estimated amounts for the current fiscal year. |
2 American Funds Corporate Bond Fund / Summary prospectus
Example This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds.
The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the fund’s operating expenses remain the same. The example reflects the expense reimbursement described above through the expiration date of such reimbursement and total annual fund operating expenses thereafter. You may be required to pay brokerage commissions on your purchases and sales of Class F-2, F-3, 529-F-2 or 529-F-3 shares of the fund, which are not reflected in the example. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Share class: | A | C | T | F-1 | F-2 | F-3 | 529-A | 529-C | 529-E | 529-T | 529-F-1 | 529-F-2 | 529-F-3 | R-1 |
1 year | $459 | $258 | $330 | $83 | $55 | $46 | $433 | $264 | $106 | $336 | $87 | $57 | $51 | $151 |
3 years | 644 | 498 | 507 | 267 | 182 | 153 | 617 | 516 | 340 | 526 | 280 | 188 | 169 | 476 |
5 years | 846 | 862 | 700 | 467 | 320 | 270 | 817 | 893 | 592 | 732 | 489 | 331 | 298 | 825 |
10 years | 1,426 | 1,698 | 1,258 | 1,045 | 722 | 612 | 1,393 | 1,469 | 1,314 | 1,327 | 1,092 | 746 | 673 | 1,809 |
Share class: | R-2 | R-2E | R-3 | R-4 | R-5E | R-5 | R-6 | For the share classes listed to the right, you would pay the following if you did not redeem your shares: | Share class: | C | 529-C |
1 year | $155 | $127 | $111 | $81 | $61 | $50 | $46 | 1 year | $158 | $164 | |
3 years | 489 | 405 | 355 | 261 | 201 | 166 | 153 | 3 years | 498 | 516 | |
5 years | 846 | 704 | 618 | 457 | 353 | 292 | 270 | 5 years | 862 | 893 | |
10 years | 1,853 | 1,553 | 1,371 | 1,022 | 795 | 661 | 612 | 10 years | 1,698 | 1,469 |
Portfolio turnover The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund’s investment results. During the most recent fiscal year, the fund’s portfolio turnover rate was 232% of the average value of its portfolio.
Principal investment strategies The fund seeks to provide maximum total return consistent with capital preservation and prudent risk management by investing primarily in investment-grade corporate debt securities, such as bonds. Normally, at least 80% of the fund’s assets will be invested in corporate debt securities, which may be represented by other investment instruments, including derivatives. The fund will also normally invest all of its assets in debt instruments, including bonds, mortgage- and other asset-backed securities, cash, cash equivalents (including shares of money market or similar funds managed by the investment adviser or its affiliates) and certain derivative instruments, with quality ratings of Baa3 or better or BBB- or better by Nationally Recognized Statistical Rating Organizations designated by the fund’s investment adviser or in debt instruments that are unrated but determined at the time of purchase to be of equivalent quality by the fund’s investment adviser. However, the fund may invest in debt securities guaranteed or sponsored by the U.S. government, as well as debt issued by government-sponsored entities and federal agencies and instrumentalities that are not backed by the full faith and credit of the U.S. government, without regard to the quality rating assigned to the U.S. government by a Nationally Recognized Statistical Rating Organization.
American Funds Corporate Bond Fund / Summary prospectus 3
The fund may invest significantly in debt securities issued by companies domiciled outside the United States, including issuers domiciled in developing countries. All securities held by the fund will be denominated in U.S. dollars.
The fund may invest in certain derivative instruments, such as futures contracts and swaps. A derivative is a financial contract, the value of which is based on the value of an underlying financial asset (such as a stock, bond or currency), a reference rate or a market index. The fund may invest in a derivative only if, in the opinion of the investment adviser, the expected risks and rewards of the proposed investment are consistent with the investment objective and strategies of the fund as disclosed in this prospectus and in the fund’s statement of additional information.
The investment adviser uses a system of multiple portfolio managers in managing the fund’s assets. Under this approach, the portfolio of the fund is divided into segments managed by individual managers.
The fund relies on the professional judgment of its investment adviser to make decisions about the fund’s portfolio investments. The basic investment philosophy of the investment adviser is to seek to invest in attractively priced securities that, in its opinion, represent good, long-term investment opportunities. Securities may be sold when the investment adviser believes that they no longer represent relatively attractive investment opportunities.
Principal risks This section describes the principal risks associated with investing in the fund. You may lose money by investing in the fund. The likelihood of loss may be greater if you invest for a shorter period of time.
Market conditions — The prices of, and the income generated by, the securities held by the fund may decline – sometimes rapidly or unpredictably – due to various factors, including events or conditions affecting the general economy or particular industries; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; and currency exchange rate, interest rate and commodity price fluctuations.
Economies and financial markets throughout the world are highly interconnected. Economic, financial or political events, trading and tariff arrangements, wars, terrorism, cybersecurity events, natural disasters, public health emergencies (such as the spread of infectious disease) and other circumstances in one country or region could have impacts on global economies or markets. As a result, whether or not the fund invests in securities of issuers located in or with significant exposure to the countries affected, the value and liquidity of the fund’s investments may be negatively affected by developments in other countries and regions.
Issuer risks — The prices of, and the income generated by, securities held by the fund may decline in response to various factors directly related to the issuers of such securities, including reduced demand for an issuer’s goods or services, poor management performance, major litigation related to the issuer, changes in government regulations affecting the issuer or its competitive environment and strategic initiatives such as mergers, acquisitions or dispositions and the market response to any such initiatives.
4 American Funds Corporate Bond Fund / Summary prospectus
Investing in debt instruments — The prices of, and the income generated by, bonds and other debt securities held by the fund may be affected by changing interest rates and by changes in the effective maturities and credit ratings of these securities.
Rising interest rates will generally cause the prices of bonds and other debt securities to fall. A general rise in interest rates may cause investors to sell debt securities on a large scale, which could also adversely affect the price and liquidity of debt securities and could also result in increased redemptions from the fund. Falling interest rates may cause an issuer to redeem, call or refinance a debt security before its stated maturity, which may result in the fund failing to recoup the full amount of its initial investment and having to reinvest the proceeds in lower yielding securities. Longer maturity debt securities generally have greater sensitivity to changes in interest rates and may be subject to greater price fluctuations than shorter maturity debt securities.
Bonds and other debt securities are also subject to credit risk, which is the possibility that the credit strength of an issuer or guarantor will weaken or be perceived to be weaker, and/or an issuer of a debt security will fail to make timely payments of principal or interest and the security will go into default. A downgrade or default affecting any of the fund’s securities could cause the value of the fund’s shares to decrease. Lower quality debt securities generally have higher rates of interest and may be subject to greater price fluctuations than higher quality debt securities. Credit risk is gauged, in part, by the credit ratings of the debt securities in which the fund invests. However, ratings are only the opinions of the rating agencies issuing them and are not guarantees as to credit quality or an evaluation of market risk. The fund’s investment adviser relies on its own credit analysts to research issuers and issues in seeking to assess credit and default risks.
Investing in securities backed by the U.S. government — Securities backed by the U.S. Treasury or the full faith and credit of the U.S. government are guaranteed only as to the timely payment of interest and principal when held to maturity. Accordingly, the current market values for these securities will fluctuate with changes in interest rates and the credit rating of the U.S. government. Securities issued by government-sponsored entities and federal agencies and instrumentalities that are not backed by the full faith and credit of the U.S. government are neither issued nor guaranteed by the U.S. government.
Investing in derivatives — The use of derivatives involves a variety of risks, which may be different from, or greater than, the risks associated with investing in traditional securities, such as stocks and bonds. Changes in the value of a derivative may not correlate perfectly with, and may be more sensitive to market events than, the underlying asset, rate or index, and a derivative instrument may expose the fund to losses in excess of its initial investment. Derivatives may be difficult to value, difficult for the fund to buy or sell at an opportune time or price and difficult, or even impossible, to terminate or otherwise offset. The fund’s use of derivatives may result in losses to the fund, and investing in derivatives may reduce the fund’s returns and increase the fund’s price volatility. The fund’s counterparty to a derivative transaction (including, if applicable, the fund’s clearing broker, the derivatives exchange or the clearinghouse) may be unable or unwilling to honor its financial obligations in respect of the transaction. In certain cases, the fund may be hindered or delayed in exercising remedies against or closing out derivative instruments with a counterparty, which may result in additional losses.
Liquidity risk — Certain fund holdings may be or may become difficult or impossible to sell, particularly during times of market turmoil. Liquidity may be impacted by the lack of an active market for a holding, legal or contractual restrictions on resale, or the reduced
American Funds Corporate Bond Fund / Summary prospectus 5
number and capacity of market participants to make a market in such holding. Market prices for less liquid or illiquid holdings may be volatile, and reduced liquidity may have an adverse impact on the market price of such holdings. Additionally, the sale of less liquid or illiquid holdings may involve substantial delays (including delays in settlement) and additional costs and the fund may be unable to sell such holdings when necessary to meet its liquidity needs or may be forced to sell at a loss.
Investing outside the United States — Securities of issuers domiciled outside the United States, or with significant operations or revenues outside the United States, may lose value because of adverse political, social, economic or market developments (including social instability, regional conflicts, terrorism and war) in the countries or regions in which the issuers operate or generate revenue. These securities may also lose value due to changes in foreign currency exchange rates against the U.S. dollar and/or currencies of other countries. Issuers of these securities may be more susceptible to actions of foreign governments, such as nationalization, currency blockage or the imposition of price controls or punitive taxes, each of which could adversely impact the value of these securities. Securities markets in certain countries may be more volatile and/or less liquid than those in the United States. Investments outside the United States may also be subject to different accounting practices and different regulatory, legal and reporting standards and practices, and may be more difficult to value, than those in the United States. In addition, the value of investments outside the United States may be reduced by foreign taxes, including foreign withholding taxes on interest and dividends. Further, there may be increased risks of delayed settlement of securities purchased or sold by the fund. The risks of investing outside the United States may be heightened in connection with investments in emerging markets.
Investing in emerging markets — Investing in emerging markets may involve risks in addition to and greater than those generally associated with investing in the securities markets of developed countries. For instance, emerging market countries may have less developed legal and accounting systems than those in developed countries. The governments of these countries may be less stable and more likely to impose capital controls, nationalize a company or industry, place restrictions on foreign ownership and on withdrawing sale proceeds of securities from the country, and/or impose punitive taxes that could adversely affect the prices of securities. In addition, the economies of these countries may be dependent on relatively few industries that are more susceptible to local and global changes. Securities markets in these countries can also be relatively small and have substantially lower trading volumes. As a result, securities issued in these countries may be more volatile and less liquid, and may be more difficult to value, than securities issued in countries with more developed economies and/or markets. Less certainty with respect to security valuations may lead to additional challenges and risks in calculating the fund’s net asset value. Additionally, emerging markets are more likely to experience problems with the clearing and settling of trades and the holding of securities by banks, agents and depositories that are less established than those in developed countries.
Management — The investment adviser to the fund actively manages the fund’s investments. Consequently, the fund is subject to the risk that the methods and analyses, including models, tools and data, employed by the investment adviser in this process may be flawed or incorrect and may not produce the desired results. This could cause the fund to lose value or its investment results to lag relevant benchmarks or other funds with similar objectives.
6 American Funds Corporate Bond Fund / Summary prospectus
Your investment in the fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency, entity or person. You should consider how this fund fits into your overall investment program.
Investment results The following bar chart shows how the fund’s investment results have varied from year to year, and the following table shows how the fund’s average annual total returns for various periods compare with a broad measure of securities market results and other applicable measures of market results. This information provides some indication of the risks of investing in the fund. The Lipper Corporate Debt Funds BBB-Rated Average includes the fund and other funds that disclose investment objectives and/or strategies reasonably comparable to those of the fund. The Lipper Corporate Debt Funds A-Rated Average also includes funds that disclose investment objectives and/or strategies reasonably comparable to those of the fund. Past investment results (before and after taxes) are not predictive of future investment results. Prior to October 30, 2020, certain fees, such as 12b-1 fees, were not charged on Class 529-F-1 shares. If these expenses had been deducted, results would have been lower. Investment results for Class 529-F-2 and Class 529-F-3 shares will be shown after these share classes have had annual returns for at least one calendar year. Class 529-F-2 and Class 529-F-3 shares will invest in the same securities as the other share classes of the fund but their results may vary from that of other share classes based on their respective fees and expenses. If expenses of the Class 529-F-2 and Class 529-F-3 are higher, then results would be lower. Updated information on the fund’s investment results can be obtained by visiting capitalgroup.com.
American Funds Corporate Bond Fund / Summary prospectus 7
Average annual total returns For the periods ended December 31, 2019 (with maximum sales charge): | ||||
Share class | Inception date | 1 year | 5 years | Lifetime |
A − Before taxes | 12/14/2012 | 9.20% | 3.95% | 3.72% |
− After taxes on distributions | 7.59 | 2.48 | 2.37 | |
− After taxes on distributions and sale of fund shares | 5.42 | 2.35 | 2.23 |
Share classes (before taxes) | Inception date | 1 year | Lifetime | |
C | 7/29/2016 | 11.59% | 2.91% | |
F-1 | 7/29/2016 | 13.41 | 3.74 | |
F-2 | 7/29/2016 | 13.73 | 3.94 | |
F-3 | 1/27/2017 | 13.84 | 5.76 | |
529-A | 7/29/2016 | 9.12 | 2.47 | |
529-C | 7/29/2016 | 11.53 | 2.86 | |
529-E | 7/29/2016 | 13.18 | 3.45 | |
529-F-1 | 7/29/2016 | 13.65 | 3.88 | |
R-1 | 7/29/2016 | 12.68 | 3.21 | |
R-2 | 7/29/2016 | 12.64 | 3.06 | |
R-2E | 7/29/2016 | 12.97 | 3.53 | |
R-3 | 7/29/2016 | 13.12 | 3.45 | |
R-4 | 7/29/2016 | 13.45 | 3.72 | |
R-5E | 7/29/2016 | 13.67 | 3.95 | |
R-5 | 7/29/2016 | 13.78 | 3.98 | |
R-6 | 7/29/2016 | 13.83 | 3.99 |
Indexes | 1 year | 5 years | Lifetime (from Class A inception) |
Bloomberg Barclays U.S. Corporate Investment Grade Index (reflects no deductions for sales charges, account fees, expenses or U.S. federal income taxes) | 14.54% | 4.60% | 4.09% |
Lipper Corporate Debt Funds BBB-Rated Average (reflects no deductions for sales charges, account fees or U.S. federal income taxes) | 13.10 | 4.00 | 3.66 |
Lipper Corporate Debt Funds A-Rated Average (reflects no deductions for sales charges, account fees or U.S. federal income taxes) | 11.29 | 3.60 | 3.33 |
Class A annualized 30-day yield at May 31, 2020: 1.37% (For current yield information, please call American FundsLine® at (800) 325-3590.) |
After-tax returns are shown only for Class A shares; after-tax returns for other share classes will vary. After-tax returns are calculated using the highest individual federal income tax rates in effect during each year of the periods shown and do not reflect the impact of state and local taxes. Your actual after-tax returns depend on your individual tax situation and likely will differ from the results shown above. In addition, after-tax returns are not relevant if you hold your fund shares through a tax-favored arrangement, such as a 401(k) plan, individual retirement account (IRA) or 529 college savings plan.
8 American Funds Corporate Bond Fund / Summary prospectus
Management
Investment adviser Capital Research and Management
CompanySM
Portfolio managers The individuals primarily responsible for the portfolio management of the fund are:
Portfolio manager/ Fund title (if applicable) |
Portfolio manager experience in this fund |
Primary title with investment adviser |
Scott Sykes President | 3 years | Partner – Capital Fixed Income Investors |
Karen Choi Senior Vice President | 1 year | Partner – Capital Fixed Income Investors |
Purchase and sale of fund shares The minimum amount to establish an account for all share classes is normally $250 and the minimum to add to an account is $50. For a payroll deduction retirement plan account, payroll deduction savings plan account or employer-sponsored 529 account, the minimum is $25 to establish or add to an account. For accounts with Class F-3 shares held and serviced by the fund’s transfer agent, the minimum investment amount is $1 million.
If you are a retail investor, you may sell (redeem) shares on any business day through your dealer or financial advisor or by writing to American Funds Service Company® at P.O. Box 6007, Indianapolis, Indiana 46206-6007; telephoning American Funds Service Company at (800) 421-4225; faxing American Funds Service Company at (888) 421-4351; or accessing our website at capitalgroup.com. Please contact your plan administrator or recordkeeper to sell (redeem) shares from your retirement plan.
Tax information Dividends and capital gain distributions you receive from the fund are subject to federal income taxes and may also be subject to state and local taxes, unless you are tax-exempt or your account is tax-favored.
Payments to broker-dealers and other financial intermediaries If you purchase shares of the fund through a broker-dealer or other financial intermediary (such as a bank), the fund and the fund’s distributor or its affiliates may pay the intermediary for the sale of fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your individual financial advisor to recommend the fund over another investment. Ask your individual financial advisor or visit your financial intermediary’s website for more information.
American Funds Corporate Bond Fund / Summary prospectus 9
You can access the fund’s statutory prospectus or SAI at capitalgroup.com/prospectus. | |
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MFGEIPX-032-1020P Litho in USA CGD/UNL/10236 Investment Company File No. 811-22744 |
Summary Prospectus Amendment
October 30, 2020
|
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For the following funds and series with summary prospectuses
dated November 1, 2019 – October 1, 2020
(as supplemented to date):
AMCAP Fund® American Balanced Fund® American Funds Corporate Bond Fund® American Funds Developing World Growth and Income FundSM American Funds Emerging Markets Bond Fund® American Funds Global Balanced FundSM American Funds Global Insight FundSM American Funds Inflation Linked Bond Fund® American Funds International Vantage FundSM American Funds Strategic Bond FundSM American Funds U.S. Government Money Market FundSM American High-Income Trust® American Mutual Fund® The Bond Fund of America® Capital Income Builder® Capital World Bond Fund® Capital World Growth and Income Fund® EuroPacific Growth Fund® Fundamental Investors® The Income Fund of America® International Growth and Income FundSM The Investment Company of America® The New Economy Fund® New Perspective Fund® New World Fund® SMALLCAP World Fund® Washington Mutual Investors FundSM |
American Funds College Target Date Series® American Funds College 2036 FundSM American Funds College 2033 Fund® American Funds College 2030 Fund® American Funds College 2027 Fund® American Funds College 2021 Fund® American Funds College Enrollment Fund®
American Funds Portfolio SeriesSM |
Changes apply to all funds and series unless otherwise noted.
Keep this amendment with your summary prospectus. Each fund’s summary prospectus consists of this amendment and the fund’s summary prospectus, as supplemented to date (which is incorporated herein by reference). For additional information about a fund, you should refer to its prospectus and statement of additional information, in each case as supplemented to date, except where specific information is provided in this amendment, in which case the disclosure provided in this amendment is controlling.
On October 30, 2020, the funds listed on the cover of this amendment expect to issue new classes of shares - Class 529-F-2, 529-F-3 and/or ABLE-F-2 - which will generally be available only through an account established with a 529 college savings plan or an ABLE savings plan managed by the Capital Research and Management Company. Effective October 30, 2020, Class 529-F-1 shares will be converted automatically to Class 529-F-2 shares. You are receiving this amendment because you hold Class 529-F-1 shares of one or more of the funds listed on the cover of this amendment.
1. The following replaces
the second sentence in the first paragraph of the “Fees and expenses of the fund” section of the summary prospectus
for all of the funds listed above (other than American Funds U.S. Government Money Market Fund and funds within the American Funds
College Target Date Series and American Funds Portfolio Series) to read as follows:
In addition to the fees and expenses described below, you may also be required to pay brokerage commissions on purchases
and sales of Class F-2, F-3, 529-F-2 or 529-F-3 shares of the fund.
2. In the third paragraph of the “Fees and expenses
of the fund” section of the summary prospectus for all of the funds listed above (other than American Funds U.S. Government
Money Market Fund and funds within the American Funds College Target Date Series and American Funds Portfolio Series), replace
the following sentences:
You may be required to pay brokerage commissions on your purchases and sales of Class F-2, F-3 or 529-F-1 shares of the fund,
which are not reflected in the example.
Or
You may be required to pay brokerage commissions on your purchases and sales of Class F-2, F-3, 529-F-1, 529-F-2 or 529-F-3 shares of the fund, which are not reflected in the example.
With:
You may be required to pay brokerage commissions on your purchases and sales of Class F-2, F-3, 529-F-2 or 529-F-3 shares of the fund, which are not reflected in the example.
3. The following replaces the second sentence in the
first paragraph of the “Fees and expenses of the fund” section of the summary prospectus for each of the funds within
the American Funds College Target Date Series to read as follows:
In addition to the fees and expenses described below, you may also be required to pay brokerage commissions on purchases and
sales of Class 529-F-2 or 529-F-3 shares of the fund.
4. In the third paragraph of the “Fees and expenses
of the fund” section of the summary prospectus for each of the funds within the American Funds College Target Date Series,
replace the following sentence:
You may be required to pay brokerage commissions on your purchases and sales of Class 529-F-1 shares of the fund, which are
not reflected in the example.
With:
You may be required to pay brokerage commissions on your purchases and sales of Class 529-F-2 or 529-F-3 shares of the fund, which are not reflected in the example.
5. The following replaces the second sentence in the
first paragraph of the “Fees and expenses of the fund” section of the summary prospectus for American Funds U.S. Government
Money Market Fund and funds within the American Funds Portfolio Series listed above to read as follows:
In addition to the fees and expenses described below, you may also be required to pay brokerage commissions on purchases and
sales of Class F-2, F-3, 529-F-2, 529-F-3 or ABLE-F-2 shares of the fund.
6. In the third paragraph of the “Fees and expenses of the fund” section of the summary prospectus for American Funds U.S. Government Money Market Fund and funds within the American Funds Portfolio Series listed above, replace the following sentence:
You may be required to pay brokerage commissions on your purchases and sales of Class F-2, F-3 or 529-F-1 shares of the fund, which
are not reflected in the example.
With:
You may be required to pay brokerage commissions on your purchases and sales of Class F-2, F-3, 529-F-2, 529-F-3 or ABLE-F-2 shares of the fund, which are not reflected in the example.
7. The “Fees and expenses of the fund” section of the summary prospectus for each of the funds listed below is amended by (i) replacing the columns captioned “529-F-1,” “529-F-2,” or “529-F-3” in the “Annual fund operating expenses” table with the corresponding columns set forth below and (ii) replacing the columns captioned “529-F-1,” “529-F-2,” or “529-F-3” in the cumulative estimated expense example table under the heading “Example” with the corresponding column set forth below. All other information in the “Annual fund operating expenses” and cumulative estimated expense example tables for all other share classes remain unchanged. Except as indicated below, footnotes to the “Annual fund operating expenses” table in the summary prospectus remain unchanged.
AMCAP Fund
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | ||||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 | |
Management fees | 0.30% | 0.30% | 0.30% | |
Distribution and/or service (12b-1) fees | 0.252 | none | none | |
Other expenses | 0.192 | 0.173 | 0.103 | |
Total annual fund operating expenses | 0.74 | 0.47 | 0.40 |
3 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 |
1 year | $76 | $48 |
3 years | 237 | 151 |
5 years | 411 | 263 |
10 years | 918 | 591 |
American Funds Corporate Bond Fund
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | ||||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 | |
Management fees2 | 0.38% | 0.38% | 0.38% | |
Distribution and/or service (12b-1) fees | 0.252 | none | none | |
Other expenses | 0.26 | 0.224 | 0.164 | |
Total annual fund operating expenses | 0.89 | 0.60 | 0.54 | |
Expense reimbursement3 | 0.04 | 0.04 | 0.04 | |
Total annual fund operating expenses after expense reimbursement | 0.85 | 0.56 | 0.50 |
3 | The investment adviser is currently reimbursing a portion of the other expenses for each share class. This reimbursement will be in effect through at least October 30, 2021. The adviser may elect at its discretion to extend, modify or terminate the reimbursement at that time. |
4 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-3 |
1 year | $87 | $51 |
3 years | 280 | 169 |
5 years | 489 | 298 |
10 years | 1,092 | 673 |
American Funds Multi-Sector Income Fund
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) |
||||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 | |
Management fees | 0.44% | 0.44% | 0.44% | |
Distribution and/or service (12b-1) fees | 0.252 | none | none | |
Other expenses | 0.282 | 0.274 | 0.194 | |
Total annual fund operating expenses | 0.97 | 0.71 | 0.63 | |
Expense reimbursement3 | 0.05 | 0.05 | 0.05 | |
Total annual fund operating expenses after expense reimbursement | 0.92 | 0.66 | 0.58 | |
3 | The investment adviser is currently reimbursing a portion of the other expenses. This reimbursement will be in effect through at least October 30, 2021. The adviser may elect at its discretion to extend, modify or terminate the reimbursement at that time. |
4 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 |
1 year | $94 | $67 |
3 years | 304 | 222 |
5 years | 531 | 390 |
10 years | 1,185 | 878 |
EuroPacific Growth Fund
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | ||||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 | |
Management fees | 0.41% | 0.41% | 0.41% | |
Distribution and/or service (12b-1) fees | 0.252 | none | none | |
Other expenses | 0.222 | 0.213 | 0.123 | |
Total annual fund operating expenses | 0.88 | 0.62 | 0.53 |
3 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 |
1 year | $90 | $63 |
3 years | 281 | 199 |
5 years | 488 | 346 |
10 years | 1,084 | 774 |
The Income Fund of America
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | |
Share class: | 529-F-1 |
Management fees | 0.22% |
Distribution and/or service (12b-1) fees | 0.253 |
Other expenses | 0.16 |
Total annual fund operating expenses | 0.63 |
3 | Restated to reflect current fees. |
Share class: | 529-F-1 |
1 year | $64 |
3 years | 202 |
5 years | 351 |
10 years | 786 |
International Growth and Income Fund
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | ||||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 | |
Management fees | 0.48% | 0.48% | 0.48% | |
Distribution and/or service (12b-1) fees | 0.251 | none | none | |
Other expenses | 0.24 | 0.192 | 0.122 | |
Total annual fund operating expenses | 0.97 | 0.67 | 0.60 |
1 | Restated to reflect current fees. |
2 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
1 year | $99 | $68 | $61 |
3 years | 309 | 214 | 192 |
5 years | 536 | 373 | 335 |
10 years | 1,190 | 835 | 750 |
Washington Mutual Investors Fund
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | ||||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 | |
Management fees | 0.23% | 0.23% | 0.23% | |
Distribution and/or service (12b-1) fees | 0.251 | none | none | |
Other expenses | 0.16 | 0.152 | 0.102 | |
Total annual fund operating expenses | 0.64 | 0.38 | 0.33 |
1 | Restated to reflect current fees. |
2 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
1 year | $65 | $39 | $34 |
3 years | 205 | 122 | 106 |
5 years | 357 | 213 | 185 |
10 years | 798 | 480 | 418 |
8. The “Fees and expenses of the fund” section of the summary prospectus for each of the funds listed below is amended by (i) supplementing the “Annual fund operating expenses” table by replacing the column captioned “529-F-1” and adding columns captioned “529-F-2” and “529-F-3” set forth below, and (ii) supplementing the cumulative estimated expense example table under the heading “Example” by replacing the column captioned “529-F-1” and adding the columns captioned “529-F-2” and “529-F-3” set forth below. All other information in the “Annual fund operating expenses” and cumulative estimated expense example tables for all other share classes remain unchanged. Except as indicated below, footnotes to the “Annual fund operating expenses” table in the summary prospectus remain unchanged.
American Balanced Fund
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | ||||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 | |
Management fees | 0.22% | 0.22% | 0.22% | |
Distribution and/or service (12b-1) fees | 0.252 | none | none | |
Other expenses | 0.172 | 0.163 | 0.103 | |
Total annual fund operating expenses | 0.64 | 0.38 | 0.32 |
3 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
1 year | $65 | $39 | $33 |
3 years | 205 | 122 | 103 |
5 years | 357 | 213 | 180 |
10 years | 798 | 480 | 406 |
American Funds Developing World Growth and Income Fund
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | |||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
Management fees | 0.74% | 0.74% | 0.74% |
Distribution and/or service (12b-1) fees | 0.252 | none | none |
Other expenses | 0.362 | 0.254 | 0.194 |
Total annual fund operating expenses | 1.35 | 0.99 | 0.93 |
3 | The fund’s transfer agent is currently waiving a portion of the other expenses. This waiver will be in effect through at least October 30, 2021. The transfer agent may elect at its discretion to extend, modify or terminate the waiver at that time. |
4 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
1 year | $137 | $101 | $95 |
3 years | 428 | 315 | 296 |
5 years | 739 | 547 | 515 |
10 years | 1,624 | 1,213 | 1,143 |
American Funds Emerging Markets Bond Fund
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | |||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
Management fees2 | 0.55% | 0.55% | 0.55% |
Distribution and/or service (12b-1) fees | 0.252 | none | none |
Other expenses | 0.282 | 0.255 | 0.185 |
Total annual fund operating expenses | 1.08 | 0.80 | 0.73 |
Fee waiver and/or expense reimbursement3 | 0.02 | 0.02 | 0.02 |
Total annual fund operating expenses after fee waiver and/or expense reimbursement | 1.06 | 0.78 | 0.71 |
3 | The investment adviser is currently reimbursing a portion of the other expenses. This reimbursement will be in effect through at least October 30, 2021. The adviser may elect at its discretion to extend, modify or terminate the reimbursement at that time. |
4 | The fund’s transfer agent is currently waiving a portion of the other expenses. This waiver will be in effect through at least October 30, 2021. The transfer agent may elect at its discretion to extend, modify or terminate the waiver at that time. |
5 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
1 year | $108 | $80 | $73 |
3 years | 341 | 253 | 231 |
5 years | 594 | 442 | 404 |
10 years | 1,315 | 988 | 905 |
American Funds Global Balanced Fund
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | |||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
Management fees | 0.44% | 0.44% | 0.44% |
Distribution and/or service (12b-1) fees | 0.252 | none | none |
Other expenses | 0.202 | 0.173 | 0.113 |
Total annual fund operating expenses | 0.89 | 0.61 | 0.55 |
3 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
1 year | $91 | $62 | $56 |
3 years | 284 | 195 | 176 |
5 years | 493 | 340 | 307 |
10 years | 1,096 | 762 | 689 |
American Funds Global Insight Fund
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | |||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
Management fees | 0.52% | 0.52% | 0.52% |
Distribution and/or service (12b-1) fees | 0.253 | none | none |
Other expenses2 | 0.21 | 0.20 | 0.12 |
Total annual fund operating expenses | 0.98 | 0.72 | 0.64 |
3 | Restated to reflect current fees. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
1 year | $100 | $74 | $65 |
3 years | 312 | 230 | 205 |
5 years | 542 | 401 | 357 |
10 years | 1,201 | 894 | 798 |
American Funds Inflation Linked Bond Fund
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | |||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
Management fees | 0.28% | 0.28% | 0.28% |
Distribution and/or service (12b-1) fees | 0.252 | none | none |
Other expenses | 0.202 | 0.174 | 0.114 |
Total annual fund operating expenses | 0.73 | 0.45 | 0.39 |
3 | The fund’s transfer agent is currently waiving a portion of the other expenses. This waiver will be in effect through at least October 30, 2021. The transfer agent may elect at its discretion to extend, modify or terminate the waiver at that time. |
4 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
1 year | $75 | $46 | $40 |
3 years | 233 | 144 | 125 |
5 years | 406 | 252 | 219 |
10 years | 906 | 567 | 493 |
American Funds International Vantage Fund
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | |||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
Management fees | 0.60% | 0.60% | 0.60% |
Distribution and/or service (12b-1) fees | 0.254 | none | none |
Other expenses2 | 0.23 | 0.21 | 0.13 |
Total annual fund operating expenses | 1.08 | 0.81 | 0.73 |
4 | Restated to reflect current fees. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
1 year | $110 | $83 | $75 |
3 years | 343 | 259 | 233 |
5 years | 595 | 450 | 406 |
10 years | 1,317 | 1,002 | 906 |
American Funds Strategic Bond Fund
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | |||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
Management fees | 0.36% | 0.36% | 0.36% |
Distribution and/or service (12b-1) fees | 0.252 | none | none |
Other expenses | 0.252 | 0.205 | 0.155 |
Total annual fund operating expenses | 0.86 | 0.56 | 0.51 |
Fee waiver and/or expense reimbursement3 | 0.03 | 0.03 | 0.03 |
Total annual fund operating expenses after fee waiver and/or expense reimbursement | 0.83 | 0.53 | 0.48 |
3 | The investment adviser is currently reimbursing a portion of the other expenses and waiving a portion of its management fees. The reimbursement and waiver will be in effect through at least October 30, 2021. The adviser may elect at its discretion to extend, modify or terminate the reimbursement or waiver at that time. The fund’s board of trustees will consider the management fee reduction in connection with the next assessment of the Investment Advisory and Service Agreement with the fund’s investment adviser. |
4 | The fund’s transfer agent is currently reimbursing a portion of the other expenses. This reimbursement will be in effect through at least October 30, 2021. The transfer agent may elect at its discretion to extend, modify or terminate the reimbursement at that time. |
5 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
1 year | $85 | $54 | $49 |
3 years | 271 | 176 | 161 |
5 years | 474 | 310 | 282 |
10 years | 1,058 | 699 | 638 |
American High-Income Trust
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | |||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
Management fees | 0.29% | 0.29% | 0.29% |
Distribution and/or service (12b-1) fees | 0.252 | none | none |
Other expenses | 0.232 | 0.193 | 0.113 |
Total annual fund operating expenses | 0.77 | 0.48 | 0.40 |
3 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
1 year | $79 | $49 | $41 |
3 years | 246 | 154 | 128 |
5 years | 428 | 269 | 224 |
10 years | 954 | 604 | 505 |
American Mutual Fund
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | ||||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 | |
Management fees | 0.24% | 0.24% | 0.24% | |
Distribution and/or service (12b-1) fees | 0.252 | none | none | |
Other expenses | 0.172 | 0.153 | 0. 103 | |
Total annual fund operating expenses | 0.66 | 0.39 | 0.34 |
3 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
1 year | $67 | $40 | $35 |
3 years | 211 | 125 | 109 |
5 years | 368 | 219 | 191 |
10 years | 822 | 493 | 431 |
The Bond Fund of America
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | |||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
Management fees | 0.19% | 0.19% | 0.19% |
Distribution and/or service (12b-1) fees | 0.252 | none | none |
Other expenses | 0.222 | 0.183 | 0.103 |
Total annual fund operating expenses | 0.66 | 0.37 | 0.29 |
3 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
1 year | $67 | $38 | $30 |
3 years | 211 | 119 | 93 |
5 years | 368 | 208 | 163 |
10 years | 822 | 468 | 368 |
Capital Income Builder
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | |||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
Management fees | 0.23% | 0.23% | 0.23% |
Distribution and/or service (12b-1) fees | 0.252 | none | none |
Other expenses | 0.182 | 0.153 | 0.103 |
Total annual fund operating expenses | 0.66 | 0.38 | 0.33 |
3 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
1 year | $67 | $39 | $34 |
3 years | 211 | 122 | 106 |
5 years | 368 | 213 | 185 |
10 years | 822 | 480 | 418 |
Capital World Bond Fund
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | |||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
Management fees | 0.43% | 0.43% | 0.43% |
Distribution and/or service (12b-1) fees | 0.252 | none | none |
Other expenses | 0.302 | 0.233 | 0.123 |
Total annual fund operating expenses | 0.98 | 0.66 | 0.55 |
3 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
1 year | $100 | $67 | $56 |
3 years | 312 | 211 | 176 |
5 years | 542 | 368 | 307 |
10 years | 1,201 | 822 | 689 |
Capital World Growth and Income Fund
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | |||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
Management fees | 0.37% | 0.37% | 0.37% |
Distribution and/or service (12b-1) fees | 0.252 | none | none |
Other expenses | 0.212 | 0.193 | 0.113 |
Total annual fund operating expenses | 0.83 | 0.56 | 0.48 |
3 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
1 year | $85 | $57 | $49 |
3 years | 265 | 179 | 154 |
5 years | 460 | 313 | 269 |
10 years | 1,025 | 701 | 604 |
Fundamental Investors
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | |||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
Management fees | 0.24% | 0.24% | 0.24% |
Distribution and/or service (12b-1) fees | 0.252 | none | none |
Other expenses | 0.182 | 0.163 | 0.103 |
Total annual fund operating expenses | 0.67 | 0.40 | 0.34 |
3 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
1 year | $68 | $41 | $35 |
3 years | 214 | 128 | 109 |
5 years | 373 | 224 | 191 |
10 years | 835 | 505 | 431 |
The Investment Company of America
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | |||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
Management fees | 0.23% | 0.23% | 0.23% |
Distribution and/or service (12b-1) fees | 0.252 | none | none |
Other expenses | 0.172 | 0.163 | 0.103 |
Total annual fund operating expenses | 0.65 | 0.39 | 0.33 |
3 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
1 year | $66 | $ 40 | $ 34 |
3 years | 208 | 125 | 106 |
5 years | 362 | 219 | 185 |
10 years | 810 | 493 | 418 |
The New Economy Fund
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | |||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
Management fees | 0.38% | 0.38% | 0.38% |
Distribution and/or service (12b-1) fees | 0.252 | none | none |
Other expenses | 0.222 | 0.203 | 0.113 |
Total annual fund operating expenses | 0.85 | 0.58 | 0.49 |
3 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
1 year | $87 | $59 | $50 |
3 years | 271 | 186 | 157 |
5 years | 471 | 324 | 274 |
10 years | 1,049 | 726 | 616 |
New Perspective Fund
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | |||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
Management fees | 0.37% | 0.37% | 0.37% |
Distribution and/or service (12b-1) fees | 0.252 | none | none |
Other expenses | 0.202 | 0.183 | 0.113 |
Total annual fund operating expenses | 0.82 | 0.55 | 0.48 |
3 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
1 year | $84 | $56 | $49 |
3 years | 262 | 176 | 154 |
5 years | 455 | 307 | 269 |
10 years | 1,014 | 689 | 604 |
New World Fund
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | |||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
Management fees | 0.52% | 0.52% | 0.52% |
Distribution and/or service (12b-1) fees | 0.252 | none | none |
Other expenses | 0.302 | 0.253 | 0.143 |
Total annual fund operating expenses | 1.07 | 0.77 | 0.66 |
3 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
1 year | $109 | $ 79 | $ 67 |
3 years | 340 | 246 | 211 |
5 years | 590 | 428 | 368 |
10 years | 1,306 | 954 | 822 |
SMALLCAP World Fund
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | |||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
Management fees | 0.62% | 0.62% | 0.62% |
Distribution and/or service (12b-1) fees | 0.252 | none | none |
Other expenses | 0.252 | 0.203 | 0.123 |
Total annual fund operating expenses | 1.12 | 0.82 | 0.74 |
3 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
1 year | $114 | $84 | $76 |
3 years | 356 | 262 | 237 |
5 years | 617 | 455 | 411 |
10 years | 1,363 | 1,014 | 918 |
American Funds College 2036 Fund
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) |
||||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 | |
Management fees | none | none | none | |
Distribution and/or service (12b-1) fees | 0.25%2 | none | none | |
Other expenses | 0.20 | 0.20%3 | 0.10%3 | |
Acquired (underlying) fund fees and expenses2 | 0.40 | 0.40 | 0.40 | |
Total annual fund operating expenses | 0.85 | 0.60 | 0.50 | |
3 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
1 year | $87 | $61 | $51 |
3 years | 271 | 192 | 160 |
5 years | 471 | 335 | 280 |
10 years | 1,049 | 750 | 628 |
American Funds College 2033 Fund
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) |
||||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 | |
Management fees | none | none | none | |
Distribution and/or service (12b-1) fees | 0.25%2 | none | none | |
Other expenses | 0.19 | 0.18%3 | 0.08%3 | |
Acquired (underlying) fund fees and expenses2 | 0.36 | 0.36 | 0.36 | |
Total annual fund operating expenses | 0.80 | 0.54 | 0.44 | |
3 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
1 year | $82 | $55 | $45 |
3 years | 255 | 173 | 141 |
5 years | 444 | 302 | 246 |
10 years | 990 | 677 | 555 |
American Funds College 2030 Fund
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | |||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
Management fees | none | none | none |
Distribution and/or service (12b-1) fees | 0.25%2 | none | none |
Other expenses | 0.19 | 0.17%3 | 0.08%3 |
Acquired (underlying) fund fees and expenses2 | 0.33 | 0.33 | 0.33 |
Total annual fund operating expenses | 0.77 | 0.50 | 0.41 |
3 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
1 year | $79 | $51 | $42 |
3 years | 246 | 160 | 132 |
5 years | 428 | 280 | 230 |
10 years | 954 | 628 | 518 |
American Funds College 2027 Fund
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | |||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
Management fees | none | none | none |
Distribution and/or service (12b-1) fees | 0.25%2 | none | none |
Other expenses | 0.19 | 0.17%3 | 0.07%3 |
Acquired (underlying) fund fees and expenses2 | 0.28 | 0.28 | 0.28 |
Total annual fund operating expenses | 0.72 | 0.45 | 0.35 |
3 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
1 year | $74 | $46 | $36 |
3 years | 230 | 144 | 113 |
5 years | 401 | 252 | 197 |
10 years | 894 | 567 | 443 |
American Funds College 2024 Fund
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | |||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
Management fees | none | none | none |
Distribution and/or service (12b-1) fees | 0.25%2 | none | none |
Other expenses | 0.18 | 0.17%3 | 0.07%3 |
Acquired (underlying) fund fees and expenses2 | 0.27 | 0.27 | 0.27 |
Total annual fund operating expenses | 0.70 | 0.44 | 0.34 |
3 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
1 year | $72 | $45 | $35 |
3 years | 224 | 141 | 109 |
5 years | 390 | 246 | 191 |
10 years | 871 | 555 | 431 |
American Funds College 2021 Fund
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | |||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
Management fees | none | none | none |
Distribution and/or service (12b-1) fees | 0.25%2 | none | none |
Other expenses | 0.19 | 0.17%3 | 0.07%3 |
Acquired (underlying) fund fees and expenses2 | 0.30 | 0.30 | 0.30 |
Total annual fund operating expenses | 0.74 | 0.47 | 0.37 |
3 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
1 year | $76 | $48 | $38 |
3 years | 237 | 151 | 119 |
5 years | 411 | 263 | 208 |
10 years | 918 | 591 | 468 |
American Funds College Enrollment Fund
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | |||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
Management fees | none | none | none |
Distribution and/or service (12b-1) fees | 0.25%2 | none | none |
Other expenses | 0.19 | 0.17%3 | 0.07%3 |
Acquired (underlying) fund fees and expenses2 | 0.30 | 0.30 | 0.30 |
Total annual fund operating expenses | 0.74 | 0.47 | 0.37 |
3 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 |
1 year | $76 | $48 | $38 |
3 years | 237 | 151 | 119 |
5 years | 411 | 263 | 208 |
10 years | 918 | 591 | 468 |
9. The “Fees and expenses of the fund” section of the summary prospectus for each of the funds listed below is amended by (i) supplementing the “Annual fund operating expenses” table by replacing the column captioned “529-F-1” and adding the columns captioned “529-F-2”, “529-F-3”, and “ABLE-F-2” set forth below and (ii) supplementing the cumulative estimated expense example table under the heading “Example” by replacing the column captioned “529-F-1” and adding the columns captioned “529-F-2”, “529-F-3”, and “ABLE-F-2” set forth below. All other information in the “Annual fund operating expenses” and cumulative estimated expense example tables for all other share classes remain unchanged. Except as indicated below, footnotes to the “Annual fund operating expenses” table in the summary prospectus remain unchanged.
American Funds U.S. Government Money Market Fund
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | ||||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 | ABLE-F-2 |
Management fees | 0.27% | 0.27% | 0.27% | 0.27% |
Distribution and/or service (12b-1) fees | 0.251 | none | none | none |
Other expenses | 0.181 | 0.203 | 0.103 | 0.153 |
Total annual fund operating expenses | 0.70 | 0.47 | 0.37 | 0.42 |
Fee waiver | — | — | — | 0.062 |
Total annual fund operating expenses after fee waiver | 0.70 | 0.47 | 0.37 | 0.36 |
2 | Virginia529, as program administrator of ABLEAmerica, is currently waiving the fee owed to it as compensation for its oversight and administration of ABLEAmerica. This waiver will be in effect through at least October 30, 2021. Subject to the terms of its contractual arrangement with the investment adviser, Virginia529 may elect to extend, modify or terminate the waiver at that time. |
3 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 | ABLE-F-2 |
1 year | $72 | $48 | $38 | $37 |
3 years | 224 | 151 | 119 | 129 |
5 years | 390 | 263 | 208 | 229 |
10 years | 871 | 591 | 468 | 524 |
American Funds Global Growth Portfolio
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | ||||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 | ABLE-F-2 |
Management fees | none | none | none | none |
Distribution and/or service (12b-1) fees | 0.25%2 | none | none | none |
Other expenses | 0.20 | 0.18%4 | 0.08%4 | 0.13%4 |
Acquired (underlying) fund fees and expenses2 | 0.42 | 0.42 | 0.42 | 0.42 |
Total annual fund operating expenses | 0.87 | 0.60 | 0.50 | 0.55 |
Fee waiver | — | — | — | 0.063 |
Total annual fund operating expenses after fee waiver | 0.87 | 0.60 | 0.50 | 0.49 |
4 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 | ABLE F-2 |
1 year | $89 | $61 | $51 | $50 |
3 years | 278 | 192 | 160 | 170 |
5 years | 482 | 335 | 280 | 301 |
10 years | 1,073 | 750 | 628 | 684 |
American Funds Growth Portfolio
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | ||||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 | ABLE-F-2 |
Management fees | none | none | none | none |
Distribution and/or service (12b-1) fees | 0.25%2 | none | none | none |
Other expenses | 0.192 | 0.17%4 | 0.08%4 | 0.12%4 |
Acquired (underlying) fund fees and expenses2 | 0.36 | 0.36 | 0.36 | 0.36 |
Total annual fund operating expenses | 0.80 | 0.53 | 0.44 | 0.48 |
Fee waiver | — | — | — | 0.063 |
Total annual fund operating expenses after fee waiver | 0.80 | 0.53 | 0.44 | 0.42 |
4 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 | ABLE F-2 |
1 year | $82 | $54 | $45 | $43 |
3 years | 255 | 170 | 141 | 148 |
5 years | 444 | 296 | 246 | 263 |
10 years | 990 | 665 | 555 | 598 |
American Funds Growth and Income Portfolio
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | ||||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 | ABLE-F-2 |
Management fees | none | none | none | none |
Distribution and/or service (12b-1) fees | 0.25%2 | none | none | none |
Other expenses | 0.15 | 0.14%4 | 0.08%4 | 0.10%4 |
Acquired (underlying) fund fees and expenses2 | 0.31 | 0.31 | 0.31 | 0.31 |
Total annual fund operating expenses | 0.71 | 0.45 | 0.39 | 0.41 |
Fee waiver | — | — | — | 0.063 |
Total annual fund operating expenses after fee waiver | 0.71 | 0.45 | 0.39 | 0.35 |
4 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 | ABLE F-2 |
1 year | $73 | $46 | $40 | $36 |
3 years | 227 | 144 | 125 | 126 |
5 years | 395 | 252 | 219 | 224 |
10 years | 883 | 567 | 493 | 512 |
American Funds Moderate Growth and Income Portfolio
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | ||||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 | ABLE-F-2 |
Management fees | none | none | none | none |
Distribution and/or service (12b-1) fees | 0.25%2 | none | none | none |
Other expenses | 0.13 | 0.13%4 | 0.08%4 | 0.10%4 |
Acquired (underlying) fund fees and expenses2 | 0.35 | 0.35 | 0.35 | 0.35 |
Total annual fund operating expenses | 0.73 | 0.48 | 0.43 | 0.45 |
Fee waiver | — | — | — | 0.063 |
Total annual fund operating expenses after fee waiver | 0.73 | 0.48 | 0.43 | 0.39 |
4 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 | ABLE F-2 |
1 year | $75 | $49 | $44 | $40 |
3 years | 233 | 154 | 138 | 138 |
5 years | 406 | 269 | 241 | 246 |
10 years | 906 | 604 | 542 | 561 |
American Funds Conservative Growth and Income Portfolio
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | ||||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 | ABLE-F-2 |
Management fees | none | none | none | none |
Distribution and/or service (12b-1) fees | 0.25%2 | none | none | none |
Other expenses | 0.12 | 0.13%4 | 0.08%4 | 0.09%4 |
Acquired (underlying) fund fees and expenses2 | 0.27 | 0.27 | 0.27 | 0.27 |
Total annual fund operating expenses | 0.64 | 0.40 | 0.35 | 0.36 |
Fee waiver | — | — | — | 0.063 |
Total annual fund operating expenses after fee waiver | 0.64 | 0.40 | 0.35 | 0.30 |
4 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 | ABLE F-2 |
1 year | $65 | $41 | $36 | $31 |
3 years | 205 | 128 | 113 | 110 |
5 years | 357 | 224 | 197 | 196 |
10 years | 798 | 505 | 443 | 450 |
American Funds Preservation Portfolio
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | ||||
Share class: | 529-F-1 | 529-F-2 | 529-F-3 | ABLE-F-2 |
Management fees | none | none | none | none |
Distribution and/or service (12b-1) fees | 0.25%2 | none | none | none |
Other expenses | 0.17 | 0.15%5 | 0.09%5 | 0.11%5 |
Acquired (underlying) fund fees and expenses2 | 0.28 | 0.28 | 0.28 | 0.28 |
Total annual fund operating expenses | 0.70 | 0.43 | 0.37 | 0.39 |
Fee waiver | — | — | — | 0.063 |
Total annual fund operating expenses after fee waiver | 0.70 | 0.43 | 0.37 | 0.33 |
3 | Virginia529, as program administrator of ABLEAmerica, is currently waiving the fee owed to it as compensation for its oversight and administration of ABLEAmerica. This waiver will be in effect through at least October 30, 2021. Subject to the terms of its contractual arrangement with the investment adviser, Virginia529 may elect to extend, modify or terminate the waiver at that time. |
4 | The investment adviser is currently reimbursing a portion of the other expenses. This reimbursement will be in effect through at least October 30, 2021. The adviser may elect at its discretion to extend, modify or terminate the reimbursement at that time. |
5 | Based on estimated amounts for the current fiscal year. |
Share class: | 529-F-1 | 529-F-2 | 529-F-3 | ABLE F-2 |
1 year | $72 | $44 | $38 | $34 |
3 years | 224 | 138 | 119 | 119 |
5 years | 390 | 241 | 208 | 213 |
10 years | 871 | 542 | 468 | 487 |
10. The following is added before the last sentence in the paragraph under the “Investment results” section of the summary prospectus for each of the funds listed above (other than American Funds U.S. Government Money Market Fund and funds within the American Funds Portfolio Series), and at the end of the paragraph under the “Investment results” section of the summary prospectus for American Funds Multi-Sector Income Fund, to read as follows:
Prior to October 30, 2020, certain fees, such as 12b-1 fees,
were not charged on Class 529-F-1 shares. If these expenses had been deducted, results would have been lower. Investment results
for Class 529-F-2 and Class 529-F-3 shares will be shown after these share classes have had annual returns for at least one calendar
year. Class 529-F-2 and Class 529-F-3 shares will invest in the same securities as the other share classes of the fund but their
results may vary from that of other share classes based on their respective fees and expenses. If expenses of the Class 529-F-2
and Class 529-F-3 are higher, then results would be lower.
11. The following is added before the last sentence in the paragraph under the “Investment results” section of the
summary prospectus for American Funds U.S. Government Money Market Fund and funds within the American Funds Portfolio Series to
read as follows:
Prior to October 30, 2020, certain fees, such as 12b-1 fees, were not charged on Class 529-F-1 shares. If these expenses had been deducted, results would have been lower. Investment results for Class 529-F-2, Class 529-F-3 and Class ABLE-F-2 shares will be shown after these share classes have had annual returns for at least one calendar year. Class 529-F-2, Class 529-F-3 shares and Class ABLE-F-2 shares will invest in the same securities as the other share classes of the fund but their results may vary from that of other share classes based on their respective fees and expenses. If expenses of the Class 529-F-2, Class 529-F-3 and/or Class ABLE-F-2 are higher, then results would be lower.
Keep this supplement with your summary prospectus.
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Lit. No. MFGEBS-436-1020P Litho in USA CGD/CF/10039-S81907 |
THE FUND MAKES AVAILABLE A SPANISH TRANSLATION OF THE ATTACHED SUMMARY PROSPECTUS AND SUMMARY PROSPECTUS SUPPLEMENT IN CONNECTION WITH THE PUBLIC OFFERING AND SALE OF ITS SHARES. THE ATTACHED ENGLISH LANGUAGE SUMMARY PROSPECTUS AND SUMMARY PROSPECTUS SUPPLEMENT ARE A FAIR AND ACCURATE REPRESENTATION OF THE SPANISH EQUIVALENT.
/s/ | STEVEN I. KOSZALKA |
STEVEN I. KOSZALKA | |
SECRETARY |