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All prices and year-to-date returns are as of April 15, 2014, 3:13PM Pacific time and subject to revision.

Figures shown are past results for Class A shares and are not predictive of results in future periods. Current and future results may be lower or higher than those shown. Returns 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. An investment in the money market fund is not insured or guaranteed by the FDIC or any other government agency. Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.

Average annual total returns with sales charge [MOP (maximum offering price)]: Returns assume all distributions are reinvested and reflect applicable fees and expenses. Fund results are for Class A shares and reflect deduction of the maximum sales charge of 5.75% for equity funds, target date funds and most portfolio series funds, 3.75% for most fixed-income funds and American Funds Tax-Advantaged Income Portfolio and 2.50% for Intermediate Bond Fund of America, Limited Term Tax-Exempt Bond Fund of America, Short-Term Bond Fund of America, American Funds Short-Term Tax-Exempt Bond Fund, American Funds Preservation Portfolio and American Funds Tax-Exempt Preservation Portfolio. Sales charges are lower for large accounts.

The funds' annualized 30-day and 7-day SEC yields, which are calculated in accordance with the SEC formula, are shown below. View SEC yields without fee waivers and/or expense reimbursement. For money market funds, the annualized 7-day SEC yield more accurately reflects the fund's current earnings than does total return.

Definitions and other important legal information about these prices and returns are shown below.

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Class A shares

Certain funds not available for this share class

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How do the share classes differ?

Growth Funds (Class A shares)

What do “with sales charge” and “NAV” mean?

Fund Prices & YTD Returns   Average Annual Total Returns
NAV as of April 15, 2014, 3:13PM Pacific time (updated daily) Monthly as of March 31, 2014 Quarterly as of March 31, 2014
AMCAP Fund®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Expense ratio**
0.74%
With sales charge 20.33% 20.84% 7.39% 20.33% 20.84% 7.39%
EuroPacific Growth Fund®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Expense ratio**
0.86%
With sales charge 10.81% 14.18% 7.65% 10.81% 14.18% 7.65%
The Growth Fund of America®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Expense ratio**
0.70%
With sales charge 17.25% 18.07% 7.40% 17.25% 18.07% 7.40%
The New Economy Fund®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Expense ratio**
0.83%
With sales charge 23.36% 22.16% 9.03% 23.36% 22.16% 9.03%
New Perspective Fund®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Expense ratio**
0.79%
With sales charge 12.79% 17.41% 8.24% 12.79% 17.41% 8.24%
New World Fund®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Expense ratio**
1.06%
With sales charge 2.72% 14.57% 9.71% 2.72% 14.57% 9.71%
SMALLCAP World Fund®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Expense ratio**
1.13%
With sales charge 13.08% 21.34% 8.70% 13.08% 21.34% 8.70%

Growth-and-Income Funds (Class A shares)

What do “with sales charge” and “NAV” mean?

Fund Prices & YTD Returns   Average Annual Total Returns
NAV as of April 15, 2014, 3:13PM Pacific time (updated daily) Monthly as of March 31, 2014 Quarterly as of March 31, 2014
American Funds Developing World Growth and Income FundSM
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Expense ratio**
1.43%
With sales charge 2.07%* 2.07%*
American Mutual Fund®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Expense ratio**
0.61%
With sales charge 11.15% 17.34% 6.96% 11.15% 17.34% 6.96%
Capital World Growth and Income Fund®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Expense ratio**
0.80%
With sales charge 12.38% 15.95% 8.15% 12.38% 15.95% 8.15%
Fundamental InvestorsSM
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Expense ratio**
0.63%
With sales charge 14.43% 18.46% 8.31% 14.43% 18.46% 8.31%
International Growth and Income FundSM
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Expense ratio**
0.93%
With sales charge 10.44% 14.48% 9.90%* 10.44% 14.48% 9.90%*
The Investment Company of America®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Expense ratio**
0.61%
With sales charge 16.84% 17.41% 6.60% 16.84% 17.41% 6.60%
Washington Mutual Investors FundSM
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Expense ratio**
0.62%
With sales charge 15.55% 18.85% 6.58% 15.55% 18.85% 6.58%

Equity-Income Funds (Class A shares)

What do “with sales charge” and “NAV” mean?

Fund Prices & YTD Returns   Average Annual Total Returns
NAV as of April 15, 2014, 3:13PM Pacific time (updated daily) Monthly as of March 31, 2014 Quarterly as of March 31, 2014
Capital Income Builder®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Expense ratio**
0.61%
With sales charge 4.76% 12.71% 6.56% 4.76% 12.71% 6.56%
The Income Fund of America®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Expense ratio**
0.58%
With sales charge 7.34% 15.44% 6.72% 7.34% 15.44% 6.72%

Balanced Fund (Class A shares)

What do “with sales charge” and “NAV” mean?

Fund Prices & YTD Returns   Average Annual Total Returns
NAV as of April 15, 2014, 3:13PM Pacific time (updated daily) Monthly as of March 31, 2014 Quarterly as of March 31, 2014
American Balanced Fund®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Expense ratio**
0.61%
With sales charge 9.01% 15.21% 6.24% 9.01% 15.21% 6.24%
American Funds Global Balanced FundSM
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Expense ratio**
0.93%
With sales charge 8.29% 7.29%* 8.29% 7.29%*

Bond Funds (Class A shares)

What do “with sales charge” and “NAV” mean?

Fund Prices & YTD Returns   Average Annual Total Returns
NAV as of April 15, 2014, 3:13PM Pacific time (updated daily) Monthly as of March 31, 2014 Quarterly as of March 31, 2014
American Funds Mortgage Fund®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Expense ratio**
0.64%
With sales charge -3.93% 0.92%* -3.93% 0.92%*
American High-Income Trust®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Expense ratio**
0.66%
With sales charge 2.42% 15.38% 6.80% 2.42% 15.38% 6.80%
The Bond Fund of America®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Expense ratio**
0.61%
With sales charge -3.69% 6.07% 3.06% -3.69% 6.07% 3.06%
Capital World Bond Fund®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Expense ratio**
0.91%
With sales charge -2.35% 5.42% 4.45% -2.35% 5.42% 4.45%
Intermediate Bond Fund of America®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Expense ratio**
0.60%
With sales charge -2.85% 2.63% 2.40% -2.85% 2.63% 2.40%
Short-Term Bond Fund of America®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Expense ratio**
0.60%
With sales charge -2.69% 0.70% 1.58%* -2.69% 0.70% 1.58%*
U.S. Government Securities Fund®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Expense ratio**
0.61%
With sales charge -4.78% 2.22% 3.26% -4.78% 2.22% 3.26%

Tax-Exempt Bond Funds (Class A shares)

What do “with sales charge” and “NAV” mean?

Fund Prices & YTD Returns   Average Annual Total Returns
NAV as of April 15, 2014, 3:13PM Pacific time (updated daily) Monthly as of March 31, 2014 Quarterly as of March 31, 2014
American Funds Short-Term Tax-Exempt Bond Fund®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Expense ratio**
0.59%
With sales charge -2.28% 1.09%* -2.28% 1.09%*
American Funds Tax-Exempt Fund of New York®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Expense ratio**
0.66%
With sales charge -5.06% 2.92%* -5.06% 2.92%*
American High-Income Municipal Bond Fund®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Expense ratio**
0.69%
With sales charge -3.55% 8.56% 3.89% -3.55% 8.56% 3.89%
Limited Term Tax-Exempt Bond Fund of America®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Expense ratio**
0.60%
With sales charge -2.30% 4.00% 3.08% -2.30% 4.00% 3.08%
The Tax-Exempt Bond Fund of America®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Expense ratio**
0.55%
With sales charge -3.64% 5.64% 3.71% -3.64% 5.64% 3.71%
The Tax-Exempt Fund of California®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Expense ratio**
0.63%
With sales charge -2.95% 7.03% 3.97% -2.95% 7.03% 3.97%
The Tax-Exempt Fund of Maryland®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Expense ratio**
0.67%
With sales charge -4.12% 4.76% 3.05% -4.12% 4.76% 3.05%
The Tax-Exempt Fund of Virginia®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Expense ratio**
0.65%
With sales charge -4.22% 4.08% 3.07% -4.22% 4.08% 3.07%

Money Market Funds (Class A shares)

What do “with sales charge” and “NAV” mean?

Fund Prices & YTD Returns   Average Annual Total Returns
NAV as of April 15, 2014, 3:13PM Pacific time (updated daily) Monthly as of March 31, 2014 Quarterly as of March 31, 2014
American Funds Money Market Fund® Weighted average days to maturity: 50
Price 7-Day Yield YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Expense ratio**
0.39%
With sales charge N/A N/A N/A N/A N/A N/A

Portfolio Series Funds (Class A shares)

What do “with sales charge” and “NAV” mean?

Fund Prices & YTD Returns   Average Annual Total Returns
NAV as of April 15, 2014, 3:13PM Pacific time (updated daily) Monthly as of March 31, 2014 Quarterly as of March 31, 2014
American Funds Global Growth PortfolioSM
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Net/gross expense ratio**
0.90% / 1.00%
With sales charge 12.55% 19.41%* 12.55% 19.41%*
American Funds Growth PortfolioSM
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Net/gross expense ratio**
0.79% / 0.89%
With sales charge 15.23% 20.60%* 15.23% 20.60%*
American Funds Growth and Income PortfolioSM
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Net/gross expense ratio**
0.70% / 0.80%
With sales charge 9.68% 15.15%* 9.68% 15.15%*
American Funds Balanced PortfolioSM
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Net/gross expense ratio**
0.69% / 0.79%
With sales charge 7.40% 12.89%* 7.40% 12.89%*
American Funds Income PortfolioSM
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Net/gross expense ratio**
0.68% / 0.78%
With sales charge 3.24% 8.79%* 3.24% 8.79%*
American Funds Tax-Advantaged Income PortfolioSM
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Net/gross expense ratio**
0.82% / 0.92%
With sales charge 5.92% 10.93%* 5.92% 10.93%*
American Funds Preservation PortfolioSM
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Net/gross expense ratio**
0.71% / 0.83%
With sales charge -2.78% -0.85%* -2.78% -0.85%*
American Funds Tax-Exempt Preservation PortfolioSM
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Net/gross expense ratio**
0.76% / 0.89%
With sales charge -2.58% 0.24%* -2.58% 0.24%*

Retirement Target Date Funds (Class A shares)

What do “with sales charge” and “NAV” mean?

Fund Prices & YTD Returns   Average Annual Total Returns
NAV as of April 15, 2014, 3:13PM Pacific time (updated daily) Monthly as of March 31, 2014 Quarterly as of March 31, 2014
American Funds 2055 Target Date Retirement Fund®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Net/gross expense ratio**
0.79% / 0.89%
With sales charge 12.40% 11.64%* 12.40% 11.64%*
American Funds 2050 Target Date Retirement Fund®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Net/gross expense ratio**
0.77% / 0.87%
With sales charge 12.48% 16.88% 5.06%* 12.48% 16.88% 5.06%*
American Funds 2045 Target Date Retirement Fund®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Net/gross expense ratio**
0.76% / 0.86%
With sales charge 12.49% 16.86% 5.06%* 12.49% 16.86% 5.06%*
American Funds 2040 Target Date Retirement Fund®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Net/gross expense ratio**
0.76% / 0.86%
With sales charge 12.34% 16.91% 5.07%* 12.34% 16.91% 5.07%*
American Funds 2035 Target Date Retirement Fund®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Net/gross expense ratio**
0.76% / 0.86%
With sales charge 11.99% 16.74% 5.00%* 11.99% 16.74% 5.00%*
American Funds 2030 Target Date Retirement Fund®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Net/gross expense ratio**
0.75% / 0.85%
With sales charge 11.83% 16.64% 5.00%* 11.83% 16.64% 5.00%*
American Funds 2025 Target Date Retirement Fund®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Net/gross expense ratio**
0.74% / 0.84%
With sales charge 10.62% 15.89% 4.63%* 10.62% 15.89% 4.63%*
American Funds 2020 Target Date Retirement Fund®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Net/gross expense ratio**
0.73% / 0.83%
With sales charge 7.33% 14.11% 4.00%* 7.33% 14.11% 4.00%*
American Funds 2015 Target Date Retirement Fund®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Net/gross expense ratio**
0.70% / 0.80%
With sales charge 5.50% 12.83% 3.85%* 5.50% 12.83% 3.85%*
American Funds 2010 Target Date Retirement Fund®
Price Change YTD   1 yr 5 yrs 10 yrs 1 yr 5 yrs 10 yrs
Net/gross expense ratio**
0.71% / 0.81%
With sales charge 3.51% 11.99% 3.58%* 3.51% 11.99% 3.58%*

Funds not available for this share class

The following funds are not available for this share class. However, if you’re interested in these funds for other investment options, click a fund name for more information.

College Target Date Funds

Definitions and other important legal information

For funds 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 funds' risks are directly related to the risks of the underlying funds as described below. For more information about the risks associated with each fund, go to its detailed fund information page or read the 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. Small-company stocks entail additional risks, and they can fluctuate in price more than larger company stocks. The value of fixed-income securities may be affected by changing interest rates and changes in credit ratings of the securities. Lower rated bonds are subject to greater fluctuations in value and risk of loss of income and principal than higher rated bonds.

Income from municipal bonds may be subject to state or local income taxes. Additionally, income from all tax-exempt bond funds except for The Tax-Exempt Bond Fund of America may be subject to the federal alternative minimum tax. Certain other income from tax-exempt bond funds, as well as capital gain distributions, may be taxable. Unlike mutual fund shares, investments in U.S Treasuries are guaranteed by the U.S. government as to the payment of principal and interest. In addition, certificates of deposit (CDs) are FDIC-insured and, if held to maturity, offer a guaranteed return of principal. State-specific tax-exempt funds are more susceptible to factors adversely affecting issuers of their states' tax-exempt securities than more widely diversified municipal bond funds.

The return of principal for bond funds and for funds with significant underlying bond holdings (New World Fund, Capital Income Builder, The Income Fund of America, American Balanced Fund, American Funds Global Balanced Fund, funds in the American Funds Target Date Retirement Series, funds in the American Funds Portfolio Series and funds in the American Funds College Target Date Series) is not guaranteed. Fund shares are subject to the same interest rate, inflation and credit risks associated with the underlying bond holdings. Investments in mortgage-related securities involve additional risks, such as prepayment risk, as more fully described in the prospectus. Although American Funds Money Market Fund has 12b-1 plans for certain share classes, the fund is currently suspending certain 12b-1 payments in this low interest rate environment. Should payments commence, the fund’s investment results will be lower.

Price: shown at Net Asset Value (NAV). Class A shares — the amount per share you would receive if you sold shares that day.

When A shares are shown at maximum offering price (MOP), the price includes the maximum sales charge. For bond funds, the maximum initial sales charge was 4.75% prior to January 10, 2000. For Intermediate Bond Fund of America and Limited Term Tax-Exempt Bond Fund of America, the maximum initial sales charge was 3.75% from January 10, 2000, to October 31, 2006. Sales charges are lower for large accounts.

Change ($): the amount (in dollar terms) that the value of the share price changed at the most recent close of the New York Stock Exchange.

YTD (year-to-date return): the net change in the value of the fund's shares (in percentage terms) from January 1, 2014, to the current date shown above. Returns assume all distributions reinvested and reflect all applicable fees and fund expenses. Short-term market volatility can seriously affect year-to-date returns. To help maintain a long-term perspective when considering your investments, review the one-, five- and 10-year returns.

Average annual total returns at net asset value [NAV (updated monthly)]: Returns assume all distributions reinvested and reflect all applicable fees and fund expenses.

N/A: Not Applicable. This share class is purchased without an upfront or deferred sales charge.

Annualized 7-day yield: Calculated by annualizing dividends paid during the last seven days of the period. For money market funds, the annualized 7-day SEC yield more accurately reflects the fund's current earnings than does total return.

* Figures reflect the lifetime returns of each fund as of the stated periods. Short-Term Bond Fund of America commenced operations on October 2, 2006. International Growth and Income Fund commenced operations on October 1, 2008. American Funds Money Market Fund commenced operations on May 1, 2009. American Funds Short-Term Tax-Exempt Bond Fund commenced operations on August 7, 2009. American Funds Mortgage Fund commenced operations on November 1, 2010. American Funds Tax-Exempt Fund of New York commenced operations on November 1, 2010. American Funds Global Balanced Fund commenced operations on February 1, 2011. American Funds Preservation Portfolio commenced operations on May 18, 2012. American Funds Income Portfolio commenced operations on May 18, 2012. American Funds Balanced Portfolio commenced operations on May 18, 2012. American Funds Tax-Exempt Preservation Portfolio commenced operations on May 18, 2012. American Funds Global Growth Portfolio commenced operations on May 18, 2012. American Funds Growth and Income Portfolio commenced operations on May 18, 2012. American Funds Growth Portfolio commenced operations on May 18, 2012. American Funds Tax-Advantaged Income Portfolio commenced operations on May 18, 2012. American Funds Inflation Linked Bond Fund commenced operations on November 1, 2013. American Funds Developing World Growth and Income Fund commenced operations on February 3, 2014. The Target Date Retirement Series commenced operations on February 1, 2007, except for American Funds 2055 Target Date Retirement Fund, which commenced operations on February 1, 2010. Lifetime returns for less than one year are not annualized, but calculated as cumulative total returns.

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. The investment adviser is currently reimbursing a portion of other expenses for American Funds Tax-Exempt Fund of New York and American Funds Developing World Growth and Income Fund. Investment results reflect the reimbursements, without which the results would have been lower. This reimbursement will be in effect through at least September 30, 2014, for Tax-Exempt Fund of New York and February 1, 2015, for Developing World Growth and Income Fund, unless modified or terminated by the fund's board. The adviser may elect at its discretion to extend, modify or terminate the reimbursement at that time. For funds in the American Funds Target Date Retirement Series, the investment adviser is currently waiving its management fee of 0.10%. After December 31, 2014, the adviser may modify or terminate the waiver, but only with fund board approval. In addition, the investment adviser has in the past reimbursed certain expenses for all share classes. Investment results shown reflect the waiver and reimbursements, without which the results would have been lower. For funds in the American Funds Portfolio Series, 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. This waiver will be in effect through at least December 31, 2014, unless modified or terminated by the fund’s board. The adviser may elect at its discretion to extend, modify or terminate the reimbursement at that time.When applicable, investment results reflect fee waivers and/or expense reimbursements, without which results would have been lower. See results without waivers and/or reimbursements. Read details about how waivers and/or reimbursements affect the results for each fund.

  The Tax-Exempt Money Fund of America (inception date: October 24, 1989) converted to American Funds Short-Term Tax-Exempt Bond Fund on August 7, 2009. Investment results shown do not include the fund’s results for the period it operated as The Tax-Exempt Money Fund of America. Results that reflect the operation of the fund as a money market fund prior to its conversion can be found in American Funds Short-Term Tax-Exempt Bond Fund’s prospectus.

  American Funds Money Market Fund Class A shares is the only share class in the American Funds offering check-writing privileges. It is also the only share class that can be exchanged into certain other share classes of other American Funds.

When a capital gain distribution is paid, the net asset value per share is reduced by the amount of the payment plus or minus any change in the value of the fund's holdings. Read our explanation of the effect of a capital gain on a fund's price for details. Two types of capital gains are realized by our funds — short-term and long-term. Net short-term capital gains are distributed to shareholders as income dividends and are taxed at ordinary income tax rates. Long-term capital gain distributions are taxed at a maximum 15% rate.

  The share prices of all of our equity funds decrease when a dividend is paid. The share price of only one of our fixed-income funds, Capital World Bond Fund, also decreases when a dividend is paid. A fund pays a special dividend when the investment income generated by the fund exceeds the income the fund has paid in the form of dividends throughout the year. Special dividends are distributed with the last dividend payment at the end of the calendar year.

** Expenses ratios are as of each fund's prospectus. The expense ratio for American Funds Developing World Growth and Income Fund is estimated. The investment adviser is currently reimbursing a portion of other expenses for American Funds Tax-Exempt Fund of New York and American Funds Developing World Growth and Income Fund. This reimbursement will be in effect through at least September 30, 2014, for Tax-Exempt Fund of New York and February 1, 2015, for Developing World Growth and Income Fund, unless modified or terminated by the fund's board. The adviser may elect at its discretion to extend, modify or terminate the reimbursement at that time. For funds in the Target Date Retirement Series, the investment adviser is currently waiving its management fee of 0.10%. After December 31, 2014, the adviser may modify or terminate the waiver, but only with fund board approval. In addition, the investment adviser has in the past reimbursed certain expenses for all share classes. Net expense ratios reflect the waiver and reimbursements, without which they would be higher. For funds in the Portfolio Series, the investment adviser is currently waiving its management fee of 0.10% and reimbursing a portion of other expenses for American Funds Preservation Portfolio and American Funds Tax-Exempt Preservation Portfolio. Net expense ratios shown reflect the waiver and/or any current 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 reimbursement will be in effect through at least December 31, 2014, unless modified or terminated by the fund's board. The adviser may elect at its discretion to extend, modify or terminate the reimbursement at that time. Expense ratios for the Target Date and Portfolio Series include the weighted average expenses of the underlying funds. The expense ratios for funds in the American Funds Portfolio Series are as of the fund's prospectus. The expense ratio for American Funds Developing World Growth and Income Fund is estimated.

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.