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Detailed Fund Information

CollegeAmerica (R) is a nationwide plan sponsored by Virginia 529 (SM)

American Funds Preservation PortfolioSM (portfolio series fund)

CollegeAmerica® Plans

Class 529-A shares

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How do the share classes differ?

Daily Prices

Updated April 22, 2014, 3:13PM Pacific time

Net Asset Value (NAV) $9.91
NAV Change $0.00
Maximum Offering Price (MOP) $10.16

(All prices are subject to revision.)

Historical Prices & Distributions

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Ticker Symbols & Fund Numbers

Fund Number 1045
Ticker/Quotron Symbol CPPAX
CUSIP Number 02630Y 74 5

Fund Description

Fund Objective The fund's investment objective is to provide current income, consistent with preservation of capital.
Distinguishing Characteristics The fund will attempt to achieve its investment objectives by investing in a mix of American Funds in different combinations and weightings.
Types of Investments Principally invest in funds that seek current income through bond investments.

Fund Facts

Minimum Initial Investment $250
Shareholder Accounts (aggregated for all share classes; updated monthly) 21,663
Regular Dividends Paid Monthly
Capital Gains Paid
Fund Inception May 18, 2012
Fiscal Year-End October

The months indicated for dividends and capital gains paid represent the anticipated current year ex-dividend date schedule for all share classes.

Investments

Assets and Portfolio Turnover (for fiscal years)

Fiscal Year Fund Assets (millions) Portfolio Turnover
2013 $489.4 11%
2012 $240.9 16%

Assets shown are for combined share classes.

Underlying Funds**

as of March 31, 2014 (updated quarterly)

Bond Funds: 100.0%
The Bond Fund of America® 20.0%
Intermediate Bond Fund of America® 40.0%
Short-Term Bond Fund of America® 40.0%

View Portfolio holdings
as of March 31, 2014 (updated quarterly, upon availability)

Returns & Expenses

Figures shown are past results and are not predictive of results in future periods. Current and future results may be lower or higher than those shown. Results shown at net asset value have all distributions reinvested. If a sales charge had been deducted, the results would have been lower. Share price and return will vary, so investors may lose money. Investing for short periods makes losses more likely. Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value. Returns with sales charge for Class 529-A shares reflect payment of the 2.50% maximum sales charge at the beginning of the stated periods. The maximum initial sales charge was 3.75% prior to November 1, 2006. Definitions and other important legal information about these prices and returns are shown below.

Rates of Return*

  Average Annual Total Returns
1 yr 3 yrs 5 yrs 10 yrs Fund Lifetime
March 31, 2014 (most recent month-end)
NAV -0.34% 0.47%
With sales charge -2.85% -0.90%
March 31, 2014 (most recent quarter-end)
NAV -0.34% 0.47%
With sales charge -2.85% -0.90%

Expense Ratios

American Funds Preservation Portfolio (net) 0.74%
American Funds Preservation Portfolio (gross) 0.86%
Lipper Short-Intermediate Investment-Grade Debt Funds Average

12-Month Distribution Rates

As of March 31, 2014 (updated monthly)

NAV 1.07%
With sales charge 1.05%

Annualized 30-Day SEC Yield

As of March 31, 2014 (updated monthly)

With sales charge 1.06%

Composition

Portfolio Summary

% of net assets of underlying American Funds as of March 31, 2014 (updated quarterly)

Asset-Backed Obligations 2.8%
Cash & equivalents 5.1%
Federal Agency Obligations Non-Mortgage 11.0%
Mortgage-Backed Securities 13.3%
Municipal Securities 1.6%
Non-U.S. Corporate and Governmental Bonds 12.2%
Other 0.0%
Stocks and Convertible Securities 0.0%
U.S. Corporate Bonds 15.7%
U.S. Treasuries 38.3%

Quality Summary

% of net assets of underlying American Funds as of March 31, 2014 (updated quarterly)

U.S. Treasuries/Agencies 49.3%
AAA/Aaa 17.4%
AA/Aa 9.3%
A 11.7%
BBB/Baa 6.1%
BB/Ba 0.4%
B 0.5%
CCC & Below 0.1%
Unrated 0.1%
Cash & equivalents 5.1%

Data calculated based on the holdings of the underlying American Funds as of March 31, 2014 (updated quarterly)

Average Life (years) 4.2
Average Duration (years) 3.3

Bond ratings, which typically range from AAA/Aaa (highest) to D (lowest), are assigned by credit rating agencies such as Standard & Poor’s, Moody’s and/or Fitch, as an indication of an issuer’s creditworthiness. If agency ratings differ, the security will be considered to have received the highest of those ratings, consistent with the fund’s investment policies. Securities in the Unrated category have not been rated by a rating agency; however, the investment adviser performs its own credit analysis and assigns comparable ratings that are used for compliance with fund investment policies.

Asset Mix

% of net assets of underlying American Funds as of March 31, 2014 (updated monthly)

U.S. Equities 0.0%
Non-U.S. Equities 0.0%
U.S. Bonds 82.7%
Non-U.S. Bonds 12.2%
Cash & Equivalents 5.1%

Assets and Portfolio Turnover (for fiscal years)

Fiscal Year Fund Assets (millions) Portfolio Turnover
2013 $489.4 11%
2012 $240.9 16%

Assets shown are for combined share classes.

Portfolio Oversight Committee

Number of years with American Funds or affiliates
Alan N. Berro 23
James B. Lovelace 32
Wesley K.-S. Phoa 15
John H. Smet 30
Andrew B. Suzman 21
Bradley J. Vogt 26

(as of the prospectus dated January 1, 2014)

The portfolio managers shown are reflected in the fund’s most recent prospectus.

Important Legal Information

CollegeAmerica is sponsored by Virginia529. But you can invest no matter where you live, and your beneficiary can go to school in any state. However, if you reside in a state other than Virginia, there may be an in-state plan that offers tax and other benefits not available in CollegeAmerica. Before investing in any state’s 529 plan, you should consult your tax adviser.

For fund of funds, investment allocations may not achieve fund objectives. There are expenses associated with the underlying funds in addition to fund of funds expenses. The fund's risks are directly related to the risks of the underlying funds as described below. For more information about the risks associated with each underlying fund, go to its detailed fund information page or read its prospectus.

Investing outside the United States involves risks, such as currency fluctuations, periods of illiquidity and price volatility, as more fully described in the prospectus. These risks may be heightened in connection with investments in developing countries.

Lower rated bonds are subject to greater fluctuations in value and risk of loss of income and principal than higher rated bonds. The return of principal for bond funds and for funds with significant underlying bond holdings is not guaranteed. Fund shares are subject to the same interest rate, inflation and credit risks associated with the underlying bond holdings.

* Investment results assume all distributions are reinvested and reflect applicable fees and expenses. The investment adviser is currently waiving its management fee of 0.10% and reimbursing a portion of other expenses. Investment results shown reflect the waiver and reimbursements, without which the results would have been lower. After December 31, 2014, the adviser may modify or terminate the waiver, but only with fund board approval. The adviser has committed to retain any reimbursements only through December 31, 2014.

  Read details about how waivers and/or reimbursements affect the results for each fund.

Comparable industry expense information is not available for the fund. The fund's expense ratio is as of the fund's prospectus. The expense ratios do not reflect sales charges.

  The investment adviser is currently waiving its management fee of 0.10% and reimbursing a portion of other expenses. Net expense ratios shown reflect the waiver and reimbursements, without which the expenses would have been higher. After December 31, 2014, the adviser may modify or terminate the waiver, but only with fund board approval. The adviser has committed to retain any reimbursements only through December 31, 2014. Expense ratios are estimated as of each fund’s prospectus and include the weighted average expenses of the underlying funds.

The SEC yield reflects the rate at which the fund is earning income on its current portfolio of securities, while the distribution rate reflects the fund's past dividends paid to shareholders. Accordingly, the fund's SEC yield and distribution rate may differ.

** Allocation percentages and underlying funds are subject to the Portfolio Oversight Committee's discretion and will evolve over time. Underlying funds may be added or removed during the year.


Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses, summary prospectuses and CollegeAmerica Program Description, which can be obtained from a financial professional and should be read carefully before investing. CollegeAmerica is distributed by American Funds Distributors® and sold through unaffiliated intermediaries.