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GROWTH FUNDS

®

Share Class

Summary

Growth and innovation. Invests in stocks of companies that can benefit from innovation, exploit new technologies or provide products and services that meet the demands of an evolving global economy.
Price at NAV $36.32
as of 08/26/2016 (updated daily)
Fund Assets (millions) $15,042.0 Portfolio Managers 4 Expense Ratio 0.86% Prospectus (PDF)

Asset Mix

U.S. Equities59.3%
Non-U.S. Equities30.2%
U.S. Bonds0.4%
Non-U.S. Bonds0.0%
Cash & Equivalents10.1%

As of 7/31/2016 (updated monthly).
529-A Share data is not available ; please click here for a chart based on an investment in Class A shares.

Market Capitalization

66.4%
Large
23.6%
Medium
10.0%
Small
$22,550.83 Million
Weighted Average


As of 06/30/2016 (updated quarterly). Morningstar data as of 06/30/2016 (updated quarterly).

Morningstar Ownership ZoneTM

Large Growth
Weighted average of holdings
75% of fund's stock holdings
Morningstar data as of 6/30/16 (updated quarterly)
INSIGHTS ON THE MORNINGSTAR OWNERSHIP ZONE

Description

Fund Objective
The investment objective of the fund is long-term growth of capital. Current income is a secondary consideration.
Distinguishing Characteristics
Invests in securities of companies that can benefit from innovation, exploit new technologies or provide products and services that meet the demands of an evolving global economy.
Types of Investments
Invests primarily in common and preferred stocks, securities convertible into common stocks, and cash and equivalents.
Holdings Outside the U.S.
May invest up to 45% of assets in securities of companies domiciled outside the U.S.

Fund Facts

Fund Inception 12/01/1983
Fund Assets (millions)
As of 7/31/2016 (updated monthly).
$15,042.0
Companies/Issuers
Holdings are as of 11/30/2015 (updated as of most recent fiscal year-end).
160+
Shareholder Accounts
Shareholder accounts are as of 7/31/2016 (updated monthly).
61,107
Regular Dividends Paid Dec
Minimum Initial Investment $250
Capital Gains Paid Dec
Portfolio Turnover (2015) 34%
Fiscal Year-End Nov
Prospectus Date 02/01/2016
CUSIP 643822 50 5
Fund Number 1014

Returns LEARN ABOUT THE SYSTEM BEHIND OUR RESULTS

Returns at NAV | With Sales Charge
CNGAX
Standard & Poor's 500 Composite Index

Volatility & Return


529-A Share data is not available; please click here for a chart based on an investment in Class A shares.

12-month
Distribution Rates
30-day SEC Yield
Fund at NAV 0.34% N/A
Fund at MOP 0.32% 0.22%
As of 07/31/2016 (updated monthly).

Valuation

Price/ Price/ Price/
Book Cash Flow Earnings
Fund 2.36 9.86 20.80
Standard & Poor's 500 Composite Index 2.66 10.40 19.22
Fund as of 6/30/16. Index as of 7/31/16.

Portfolio Management

Years of Experience with Fund
Years of Experience with Capital Group
Years of Experience with Investment Industry
Timothy D. Armour 33 33 25
Mark E. Denning 34 34 14
Claudia P. Huntington 43 41 21
Harold H. La 18 17 10
A boldface number indicates that years of experience with Capital Group is equal to years of experience with investment industry.

Ratings & Risk

Morningstar Rating TM


Overall Morningstar RatingTM
Funds rated (1482)
3-yr. Morningstar RatingTM
(1482 funds rated)
5-yr. Morningstar RatingTM
(1287 funds rated)
10-yr. Morningstar RatingTM
(924 funds rated)
Overall Morningstar Risk Average
HIGH
LOW
Category Large Growth
ADVANTAGES AND DISADVANTAGES OF MORNINGSTAR RATINGS
Ratings are based on risk-adjusted returns as of 7/31/2016 (updated monthly).

Risk Measures

For the 10 Years ending 7/31/16 (updated monthly). R-squared, Beta and Capture Ratio calculated using the S&P 500 TR USD.

Fund
Standard Deviation 16.87
Sharpe Ratio 0.51
R-squared 89
Beta 1.04
Capture Ratio (Downside/Upside) 104/106

Holdings

Equities Breakdown

Equity Fund Holdings
Health care 24.5%
Information technology 23.4%
Consumer discretionary 16.5%
Financials 11.6%
Industrials 6.7%
Consumer staples 2.9%
Telecommunication services 1.5%
Materials 1.2%
Energy 0.8%
Utilities 0.4%

% of net assets as of 6/30/2016 (updated quarterly).

Top Equities

Netflix
2.7%
Thermo Fisher Scientific
2.6%
Alphabet
2.2%
Tencent
2.1%
Sony
1.9%
Amgen
1.6%
Skyworks Solutions
1.5%
Hologic
1.5%
Amazon
1.4%
Alexion Pharmaceuticals
1.4%

% of net assets as of 7/31/2016 (updated monthly).

Geographic Breakdown

United States
59.70%
Europe
9.80%
Asia & Pacific Basin
18.60%
Other (Including Canada & Latin America)
1.80%
Cash & equivalents
10.10%
% of net assets as of 6/30/2016 (updated quarterly).

The New Geography of Investing ®

Regions Fund
Standard & Poor's 500 Composite Index
United States 66.3% 100.0%
Canada 0.7% 0.0%
Europe 11.0% 0.0%
Japan 5.3% 0.0%
Asia-Pacific ex. Japan 2.5% 0.0%
Emerging Markets 14.3% 0.0%

% of net assets as of 6/30/2016 (updated quarterly).

Fund Breakdown by Domicile

Regions Fund
Standard & Poor's 500 Composite Index
United States 59.3% 100.0%
Canada 0.6% 0.0%
Europe 9.8% 0.0%
Japan 4.7% 0.0%
Asia-Pacific ex. Japan 2.2% 0.0%
Emerging Markets 12.8% 0.0%
Cash & Equivalents 10.1% --
Fixed Income 0.4% --

% of net assets as of 6/30/2016 (updated quarterly).

Prices & Distributions

FIND HISTORICAL PRICES
2016
2007-2016

2015
Record
Date
Calculated
Date
Pay Date
Income Dividend
Regular
Income Dividend
Special
Cap. Gains
Long-Term
Cap. Gains
Short-Term
Reinvest NAV
12/22/15 12/22/15 12/23/15 $0.1286 $0.00 $2.061 $0.00 $35.64
2015 Year-to-Date:
Dividends Subtotal: $0.1286
Cap Gains Subtotal: $2.061
Total Distributions: $2.1896

Fees & Expenses

Fees

Annual Management Fees 0.39%
Other Expenses 0.27%
Service 12b-1 0.20%
As of each fund's most recent prospectus.

Expense Ratio

Fund 0.86%
Lipper Growth Funds Average 1.28%

Resources

Prospectuses & Reports for CNGAX

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. Share prices and returns will vary, so investors may lose money. Investing for short periods makes losses more likely.

Returns shown at net asset value (NAV) have all distributions reinvested. If a sales charge had been deducted, the results would have been lower.

Returns with sales charge for Class 529-A shares reflect payment of the 5.75% maximum sales charge.

View fund expense ratios and returns.

Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.

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, Inc. and sold through unaffiliated intermediaries.

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.

For more information about the risks associated with each fund, go to its detailed fund information page or read the prospectus.

Depending on your state of residence, there may be an in-state plan that offers tax and other benefits not available through CollegeAmerica. Before investing in any state's 529 plan, investors should consult a tax advisor. CollegeAmerica is sponsored by Virginia529℠. 

If withdrawals from 529 plans are used for purposes other than higher education, the earnings will be subject to a 10% federal tax penalty in addition to federal and, if applicable, state income tax.

There may have been periods when the fund has lagged the index or indexes. Certain market indexes are unmanaged and, therefore, have no expenses. Investors cannot invest directly in an index.

Funds are actively managed, so holdings will change.

Investment results assume all distributions are reinvested and reflect applicable fees and expenses.

When applicable, investment results reflect fee waivers and/or expense reimbursements, without which results would have been lower. Read details about how waivers and/or reimbursements affect the results for each fund. View results and yields without fee waiver and/or expense reimbursement .

  1. Excludes certain securities in initial period of acquisition.
  2. Includes short-term securities and other assets less liabilities.
  3. Figures include convertible securities; totals may not reconcile due to rounding. Methodology notes: The equity breakdown by revenue reflects the fund’s publicly traded equity holdings and excludes cash (and fixed-income securities, if applicable). Underlying revenue data were compiled by MSCI and account for disparities in the way companies report their revenues across geographic segments. MSCI breaks out each company’s reported revenues into country-by-country estimates. MSCI provides revenue data figures based on a proprietary, standardized model. Revenue exposure at the fund and index level was calculated by using FactSet, which takes these company revenue exposures and multiplies by the company’s weighting in the portfolio and index. In this breakdown, Israel has been included in Europe.
  4. The portfolio managers shown are as of the fund's most recent prospectus dated 02/01/2016.
  5. Lipper ratings for Consistent Return reflect funds’ historical risk-adjusted returns at NAV, adjusted for volatility, relative to peers. Lipper ratings for Expense reflect funds’ expense minimization relative to peers with similar load structures. Lipper ratings for Preservation reflect funds’ historical loss avoidance relative to other funds within the same asset class. Preservation ratings are relative, rather than absolute, measures, and funds named Lipper Leaders for Preservation may still experience losses periodically; those losses may be larger for equity and mixed equity funds than for fixed income funds. Lipper ratings for Tax Efficiency reflect funds’ historical success in postponing taxable distributions relative to peers. Tax Efficiency offers no benefit to investors in tax-sheltered accounts such as 401(k) plans. Lipper ratings for Total Return reflect funds’ historical total return performance relative to peers. The Lipper ratings are subject to change every month and are based on an equal-weighted average of percentile ranks for the Total Return, Consistent Return, Preservation, Tax Efficiency and Expense metrics. The highest 20% of funds in each classification are named Lipper Leaders for Total Return, the next 20% receive a rating of 4, the middle 20% are rated 3, the next 20% are rated 2, and the lowest 20% are rated 1. Lipper ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. More information is available at www.lipperleaders.com. Lipper Leader © 2015, Thomson Reuters, All Rights Reserved.
  6. Calculated by Morningstar. Due to differing calculation methods, the figures shown here may differ from those calculated by American Funds.
  7. Morningstar Rating™ for Funds: For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) Morningstar Ratings metrics. Past results are not guarantee of results in future periods. Morningstar Rating is for Class 529-A only; other classes may have different performance characteristics.
  8. The months indicated for dividends and capital gains paid represent the anticipated current year ex-dividend date schedule for all share classes.
  9. YTD (year-to-date return): the net change in the value of the fund's shares (in percentage terms) from January 1, 2016, to the current date shown above.
  10. Expense ratios are as of the most recent prospectus.
  11. Source for Lipper expense ratio comparison: Lipper, based on front-end load funds, excluding funds of funds, for the most recent fiscal year-ends available as of 06/30/2016.
  12. The Morningstar Ownership Zone™ provides detail about a portfolio's equity investment style by showing the range of stock sizes and styles. A portfolio's Ownership Zone™ is derived by plotting each stock in the fund's portfolio within the proprietary Morningstar Style Box™. The shaded area represents the center 75% of the fund's assets, and it provides an intuitive visual representation of the area of the market in which the fund invests. A "centroid" plot in the middle of the Ownership Zone represents the weighted average of all the fund's holdings. A fund that is concentrated will have a small ownership zone relative to the area of the style box, and broadly diversified fund will have an ownership zone that stretches across many sizes and style. Over a period of time, the shape and location of a fund's ownership zone may vary.
  13. Class 529-A shares were first offered on February 15, 2002. Class 529-A share results prior to the date of first sale are hypothetical based on Class A share results without a sales charge, adjusted for estimated additional annual expenses. View dates of first sale and specific expense adjustment information.
  14. 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.

©2016 Morningstar, Inc. All Rights Reserved. Some of the information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar, its content providers nor the American Funds are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. Information is calculated by Morningstar. Due to differing calculation methods, the figures shown here may differ from those calculated by American Funds.

Terms and Definitions

Beta: Beta relatively measures a fund's sensitivity to market movements over a specified period of time. The beta of the market (represented by the benchmark index) is equal to 1; a beta higher than 1 implies that a fund's return was more volatile than the market. A beta lower than 1 suggests that the fund was less volatile than the market. Generally the higher the R-squared measure, the more reliable the beta measurement will be. Calculated by Morningstar.

Capture Ratio Downside: Capture ratios reflect the annualized product of fund vs. index returns for all months in which the index had a positive return (upside capture) or negative return (downside capture). Calculated by Morningstar.

Capture Ratio Upside: Capture ratios reflect the annualized product of fund vs. index returns for all months in which the index had a positive return (upside capture) or negative return (downside capture). Calculated by Morningstar.

Distribution rate 12-month: The income per share paid by the fund over the past 12 months to an investor from dividends (including any special dividends). The distribution rate is expressed as a percentage of the current price.

Historical Long-Term Capital Gains: 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.

Historical Regular Dividend: 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. Prior to January 1, 2003, short-term capital gains distributed to shareholders as income dividends and special dividends paid to shareholders were included in the aggregate income dividend dollar amount.

Historical Short-Term Capital Gains: 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.

Historical Special Dividend: 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. Prior to January 1, 2003, short-term capital gains distributed to shareholders as income dividends and special dividends paid to shareholders were included in the aggregate income dividend dollar amount.

Morningstar rating: In an effort to classify funds by what they own, as well as by their prospectus objectives and styles, Morningstar developed Morningstar Categories. While the prospectus objective identifies a fund's investment goals based on the wording in the fund prospectus, the Morningstar Category identifies funds based on their actual investment styles as measured by their underlying portfolio holdings (portfolio and other statistics over the past three years).

R-Squared: R-squared is a measure of the correlation between a particular fund's return and that of its benchmark index. A measure of 100 indicates that all of the fund's return can be explained by movements in its benchmark. Generally the higher the R-squared measure, the more reliable the beta measurement will be. Calculated by Morningstar.

S&P 500: A market capitalization-weighted index based on the results of 500 widely held common stocks.

Share Class: Each share class available for a fund has different fees and expense structures, but all of the classes for a particular fund invest in the same pool of securities.

Sharpe Ratio: Sharpe ratios use standard deviation and excess return to determine reward per unit of risk. The higher the number, the better the portfolio's historical risk-adjusted performance. Calculated by Morningstar.

Standard Deviation: Annualized standard deviation (based on monthly returns) is a common measure of absolute volatility that tells how returns over time have varied from the mean. A lower number signifies lower volatility. Calculated by Morningstar.

Valuation Price-to-Cash Flow: Price-to-cash-flow (P/C) ratio is the average price to cash flow ratio of the individual stocks within a fund.

Valuation Price-to-Earnings Ratio: Price-to-earnings (P/E) ratio takes the current price of a stock divided by its earnings per share. The ratio reflects the cost of a given stock per dollar of current annual earnings and is the most common measure of a stock's expense. The higher the P/E, the more investors are paying, and therefore the more earnings growth they are expecting.

Valuation: Price-to-book ratio compares a stock's market value to the value of total assets less total liabilities (book value). Adjusted for stock splits. Price-to-cash-flow (P/C) ratio is the average price to cash flow ratio of the individual stocks within a fund. Price-to-earnings (P/E) ratio takes the current price of a stock divided by its earnings per share. The ratio reflects the cost of a given stock per dollar of current annual earnings and is the most common measure of a stock's expense. The higher the P/E, the more investors are paying, and therefore the more earnings growth they are expecting.