SEC File Nos. 002-11051
811-00604
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
Registration Statement
Under
the Securities Act of 1933
Post-Effective Amendment No. 154
and
Registration Statement
Under
the Investment Company Act of 1940
Amendment No. 82
(Exact Name of Registrant as Specified in Charter)
6455
Irvine Center Drive
Irvine, California 92618-4518
(Address of Principal Executive Offices)
Registrant's telephone number, including area code:
(213) 486-9200
Michael R. Tom, Secretary
333 South Hope Street
Los Angeles, California 90071-1406
(Name and Address of Agent for Service)
Copies to:
Kevin Cahill, Esq.
Dechert LLP
633 West 5th Street, Suite 4900
Los Angeles, California 90071-2032
(Counsel for the Registrant)
Approximate date of proposed public offering:
It is proposed that this filing become effective on July 1, 2026, pursuant to paragraph (b) of Rule 485.
|
Washington
Mutual Prospectus |
 |
| Class | A | C | F-1 | F-2 | F-3 | 529-A | 529-C | 529-E | 529-F-2 |
| AWSHX | WSHCX | WSHFX | WMFFX | FWMIX | CWMAX | CWMCX | CWMEX | FWMMX | |
| Class | 529-F-3 | R-1 | R-2 | R-2E | R-3 | R-4 | R-5E | R-5 | R-6 |
| FWWMX | RWMAX | RWMBX | RWEBX | RWMCX | RWMEX | RWMHX | RWMFX | RWMGX |
Table of contents
| Investment objective | 1 |
| Fees and expenses of the fund | 1 |
| Principal investment strategies | 3 |
| Principal risks | 4 |
| Investment results | 5 |
| Management | 7 |
| Purchase and sale of fund shares | 7 |
| Tax information | 7 |
| Payments to broker-dealers and other financial intermediaries | 7 |
| Investment objective, strategies and risks | 8 |
| Management and organization | 14 |
| Shareholder information | 17 |
| Purchase, exchange and sale of shares | 18 |
| How to sell shares | 23 |
| Distributions and taxes | 27 |
| Choosing a share class | 28 |
| Sales charges | 30 |
| Sales charge reductions and waivers | 34 |
| Rollovers from retirement plans to IRAs | 41 |
| Plans of distribution | 43 |
| Other compensation to dealers | 44 |
| Fund expenses | 46 |
| Financial highlights | 48 |
| Appendix | 54 |
| The U.S. Securities and Exchange Commission has not approved or disapproved of these securities. Further, it has not determined that this prospectus is accurate or complete. Any representation to the contrary is a criminal offense. |
| Share class: | A | 529-A | C
and 529-C |
529-E | All F and 529-F share classes | All
R share classes |
| Maximum sales charge (load) imposed on purchases (as a percentage of offering price) | ||||||
| Maximum deferred sales charge (load) (as a percentage of the amount redeemed) | ||||||
| Maximum sales charge (load) imposed on reinvested dividends | ||||||
| Redemption or exchange fees | ||||||
| Share class: | A | C | F-1 | F-2 | F-3 | 529-A |
| Management fees | ||||||
| Distribution and/or service (12b-1) fees | ||||||
| Other expenses | ||||||
| Total annual fund operating expenses | ||||||
| Share class: | 529-C | 529-E | 529-F-2 | 529-F-3 | R-1 | R-2 |
| Management fees | ||||||
| Distribution and/or service (12b-1) fees | ||||||
| Other expenses | ||||||
| Total annual fund operating expenses |
| Share class: | R-2E | R-3 | R-4 | R-5E | R-5 | R-6 |
| Management fees | ||||||
| Distribution and/or service (12b-1) fees | ||||||
| Other expenses | ||||||
| Total annual fund operating expenses |
*
1 Washington Mutual Investors Fund / Prospectus
The example
assumes that you invest $10,000 in the fund for the time periods indicated and then redeem or hold 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. 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.
| Share class: | A | C | F-1 | F-2 | F-3 | 529-A | 529-C | 529-E | 529-F-2 | 529-F-3 | R-1 | R-2 |
| 1 year | $ |
$ |
$ |
$ |
$ |
$ |
$ |
$ |
$ |
$ |
$ |
$ |
| 3 years | ||||||||||||
| 5 years | ||||||||||||
| 10 years |
| Share class: | R-2E | R-3 | R-4 | R-5E | R-5 | R-6 | Share class: | C | 529-C | |
| 1 year | $ |
$ |
$ |
$ |
$ |
$ |
1 year | $ |
$ | |
| 3 years | 3 years | |||||||||
| 5 years | 5 years | |||||||||
| 10 years | 10 years |
Washington Mutual Investors Fund / Prospectus 2
The fund has Investment Standards originally based upon criteria established by the United States District Court for the District of Columbia for determining eligibility under the Court’s Legal List procedure, which was in effect for many years. The fund has an “Eligible List” — based on the Investment Standards — of securities considered appropriate for a prudent investor seeking opportunities for income and growth of principal consistent with common stock investing. The investment adviser generates and maintains the Eligible List in compliance with the fund’s Investment Standards and selects the fund’s investments exclusively from the securities on the Eligible List.
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 valued companies 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.
3 Washington Mutual Investors Fund / Prospectus
Principal
risks This section describes the principal risks
associated with investing in the fund.
Market conditions — The prices of, and the income generated by, the common stocks and other 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 or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; levels of public debt and deficits; changes in inflation rates; 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), bank failures and other circumstances in one country or region, including actions taken by governmental or quasi-governmental authorities in response to any of the foregoing, 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, investigations or other controversies related to the issuer, changes in the issuer’s financial condition or credit rating, 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. An individual security may also be affected by factors relating to the industry or sector of the issuer or the securities markets as a whole, and conversely an industry or sector or the securities markets may be affected by a change in financial condition or other event affecting a single issuer.
Investing in income-oriented stocks — The value of the fund’s securities and income provided by the fund may be reduced by changes in the dividend policies of, and the capital resources available for dividend payments at, the companies in which the fund invests.
Investing in growth-oriented stocks — Growth-oriented common stocks and other equity-type securities (such as preferred stocks, convertible preferred stocks and convertible bonds) may involve larger price swings and greater potential for loss than other types of investments.
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.
Washington Mutual Investors Fund / Prospectus 4
5 Washington Mutual Investors Fund / Prospectus
| Share class | Inception date | 1 year | 5 years | 10 years | Lifetime |
| F-2 − Before taxes | |||||
| − After taxes on distributions | N/A | ||||
| − After taxes on distributions and sale of fund shares | N/A | ||||
| Share classes (before taxes) | Inception date | 1 year | 5 years | 10 years | Lifetime |
| A (with maximum sales charge) | |||||
| C | |||||
| F-1 | |||||
| F-3 | N/A | ||||
| 529-A (with maximum sales charge) | |||||
| 529-C | |||||
| 529-E | |||||
| 529-F-2 | N/A | ||||
| 529-F-3 | N/A | ||||
| R-1 | |||||
| R-2 | |||||
| R-2E | |||||
| R-3 | |||||
| R-4 | |||||
| R-5E | |||||
| R-5 | |||||
| R-6 |
| Indexes | 1 year | 5 years | 10 years | Lifetime (from Class F-2 inception) |
| S&P 500 Index (reflects no deductions for sales charges, account fees, expenses or U.S. federal income taxes) | ||||
(For current yield information, please call American Funds Service Company at | ||||
Washington Mutual Investors Fund / Prospectus 6
Management
Investment
adviser Capital Research and Management Company
Portfolio managers The
individuals primarily responsible for the portfolio management of the fund are:
| Portfolio
manager/ Fund title (if applicable) |
Portfolio
manager in this fund since: |
Primary
title with investment adviser |
| Aline Avzaradel | 2021 | Partner – Capital International Investors |
| Alan N. Berro | 1998 | Partner – Capital World Investors |
| Mark L. Casey | 2016 | Partner – Capital International Investors |
| Irfan M. Furniturewala | 2015 | Partner – Capital International Investors |
| Emme Kozloff | 2016 | Partner – Capital World Investors |
| Jin Lee Co-President | 2014 | Partner – Capital World Investors |
| Eric H. Stern Co-President | 2014 | Partner – Capital International Investors |
| Diana Wagner | 2014 | Partner – Capital World 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 professional 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 (in which case you may be taxed later, upon withdrawal of your investment from such account).
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 professional to recommend the fund over another investment. Ask your individual financial professional or visit your financial intermediary’s website for more information.
7 Washington Mutual Investors Fund / Prospectus
Investment objective, strategies and risks The fund’s investment objective is to produce income and to provide an opportunity for growth of principal consistent with sound common stock investing. While it has no present intention to do so, the fund’s board may change the fund’s investment objective without shareholder approval upon 60 days’ prior written notice to shareholders.
The fund strives to accomplish its objective through fundamental research, careful selection and broad diversification. In the selection of common stocks and other securities for investment, current and potential income as well as the potential for long-term capital appreciation are considered. The fund seeks to provide an above-average yield in its quarterly income distribution in relation to the S&P 500 Index (a broad, unmanaged index). The fund strives to maintain a fully invested, diversified portfolio, consisting primarily of high-quality common stocks.
The fund has Investment Standards originally based upon criteria established by the United States District Court for the District of Columbia for determining eligibility under the Court's Legal List procedure, which was in effect for many years. The fund has an "Eligible List" — based on the Investment Standards — of securities considered appropriate for a prudent investor seeking opportunities for income and growth of principal consistent with common stock investing. The investment adviser generates and maintains the Eligible List in compliance with the fund’s Investment Standards and selects the fund’s investments exclusively from the securities on the Eligible List.
The fund is designed to provide fiduciaries, organizations, institutions and individuals with a convenient and prudent medium of investment in common stocks and securities convertible into common stocks, such as convertible bonds and debentures and convertible preferred stocks, that meet the fund’s criteria for investing. It is especially designed to serve those individuals who are charged with the responsibility of investing retirement plan trusts, other fiduciary-type reserves or family funds but who are reluctant to undertake the selection and supervision of individual stocks.
To manage cash flows into or out of the fund effectively, the fund may also invest in futures contracts referencing stock indices to equitize some or all of its cash and cash equivalents. Futures contracts are a type of derivative. 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.
Although the fund’s policy is to maintain at all times a fully invested and widely diversified portfolio of securities, the fund may hold, to a limited extent, short-term U.S. government securities, cash and cash equivalents.
The fund may invest in certain other funds managed by the investment adviser or its affiliates (“Central Funds”) to more effectively invest in a diversified set of securities in a specific asset class such as money market instruments, bonds and other securities. Shares of Central Funds are only offered for purchase to the fund’s investment adviser and its affiliates and other funds, investment vehicles and accounts managed by the fund’s investment adviser and its affiliates. Central Funds do not charge management fees. As a result, the fund does not bear additional management fees when investing in Central Funds, but the fund does bear its proportionate share of Central Fund expenses. The investment results of the portions of the fund’s assets invested in the Central Funds will be based upon the investment results of the Central Funds.
Washington Mutual Investors Fund / Prospectus 8
The fund may also lend portfolio securities to brokers, dealers and other institutions that provide cash or U.S. Treasury securities as collateral in an amount at least equal to the value of the securities loaned.
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 valued companies that, in its opinion, represent good, long-term investment opportunities. The investment adviser believes that an important way to accomplish this is through fundamental analysis, which may include meeting with company executives and employees, suppliers, customers and competitors. Securities may be sold when the investment adviser believes that they no longer represent relatively attractive investment opportunities.
The investment adviser may consider environmental, social and governance (“ESG”) factors that, depending on the facts and circumstances, are material to the value of an issuer or instrument. ESG factors may include, but are not limited to, environmental issues (e.g., water use, emission levels, waste, environmental remediation), social issues (e.g., human capital, health and safety, changing customer behavior) or governance issues (e.g., board composition, executive compensation, shareholder dilution).
The following are principal risks associated with investing in the fund.
Market conditions — The prices of, and the income generated by, the common stocks and other 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 or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; levels of public debt and deficits; changes in inflation rates; 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), bank failures and other circumstances in one country or region, including actions taken by governmental or quasi-governmental authorities in response to any of the foregoing, 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, investigations or other controversies related to the issuer, changes in the issuer’s financial condition or credit rating, 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. An individual security may also be affected by factors relating to the industry or sector of the issuer or the securities markets as a whole, and conversely an industry or sector or the securities markets may be affected by a change in financial condition or other event affecting a single issuer. To the extent that the market prices of
9 Washington Mutual Investors Fund / Prospectus
securities of issuers in the same or related industries or sectors tend to move in the same direction at the same time, and these issuers make up a sizeable portion of the market, events affecting one issuer, industry or sector or the securities markets generally may have a larger impact. If such issuers represent a substantial portion of major market indices, or the economy, a downturn in the prices of their securities may have a disproportionate adverse effect on the overall market, even if other segments of the market perform well. The fund’s portfolio managers invest in issuers based on their level of investment conviction. At times, the fund may invest more significantly in a single issuer, which could increase the fund’s volatility and the risk of loss arising from the factors described above.
Investing in income-oriented stocks — The value of the fund’s securities and income provided by the fund may be reduced by changes in the dividend policies of, and the capital resources available for dividend payments at, the companies in which the fund invests.
Investing in growth-oriented stocks — Growth-oriented common stocks and other equity-type securities (such as preferred stocks, convertible preferred stocks and convertible bonds) may involve larger price swings and greater potential for loss than other types of investments.
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.
The following are additional risks associated with investing in the fund.
Exposure to country, region, industry or sector — Subject to the fund’s investment limitations, the fund may have significant exposure to a particular country, region, industry or sector. Such exposure may cause the fund to be more impacted by risks relating to and developments affecting the country, region, industry or sector, and thus its net asset value may be more volatile, than a fund without such levels of exposure. For example, if the fund has significant exposure in a particular country, then social, economic, regulatory or other issues that negatively affect that country may have a greater impact on the fund than on a fund that is more geographically diversified.
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 number and capacity of market participants to make a market in such holding. Market prices for less liquid or illiquid holdings may be volatile or difficult to determine, 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 to try to limit losses, 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, and securities
Washington Mutual Investors Fund / Prospectus 10
tied economically to countries 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 are domiciled, operate or generate revenue or to which the securities are tied economically. 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, sanctions, 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 regulatory, legal, accounting, auditing, financial reporting and recordkeeping requirements, 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, which could impact the liquidity of the fund’s portfolio. The risks of investing outside the United States may be heightened in connection with investments in emerging markets.
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 cause the fund to lose significantly more than 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. Derivatives are also subject to operational risk (such as documentation issues, settlement issues and systems failures) and legal risk (such as insufficient documentation, insufficient capacity or authority of a counterparty, and issues with the legality or enforceability of a contract).
Investing in futures contracts — In addition to the risks generally associated with investing in derivative instruments, futures contracts are subject to the creditworthiness of the clearing organizations, exchanges and futures commission merchants with which the fund transacts. Additionally, although futures require only a small initial investment in the form of a deposit of initial margin, the amount of a potential loss on a futures contract could greatly exceed the initial amount invested. While futures contracts are generally liquid instruments, under certain market conditions futures may be deemed to be illiquid. For example, the fund may be temporarily prohibited from closing out its position in a futures contract if intraday price change limits or limits on trading volume imposed by the applicable futures exchange are triggered. If the fund is unable to close out a position on a futures contract, the fund would remain subject to the risk of adverse price movements until the fund is able to close out the futures position. The ability of the
11 Washington Mutual Investors Fund / Prospectus
fund to successfully utilize futures contracts may depend in part upon the ability of the fund’s investment adviser to accurately forecast market and economic factors (such as interest rates) and to assess and predict the impact of such market and economic factors on the futures in which the fund invests. If the investment adviser incorrectly forecasts economic developments or incorrectly predicts the impact of such developments on the futures in which it invests, the fund could suffer losses.
Lending of portfolio securities — Securities lending involves risks, including the risk that the loaned securities may not be returned in a timely manner or at all, which would interfere with the fund’s ability to vote proxies or settle transactions, and/or the risk of a counterparty default. Additionally, the fund may lose money from the reinvestment of collateral received on loaned securities in investments that decline in value, default or do not perform as expected.
Cybersecurity breaches — The fund may be subject to operational and information security risks through breaches in cybersecurity. Cybersecurity breaches can result from deliberate attacks or unintentional events, including “ransomware” attacks, the injection of computer viruses or malicious software code, the use of vulnerabilities in code to gain unauthorized access to digital information systems, networks or devices, or external attacks such as denial-of-service attacks on the investment adviser’s or an affiliate’s website that could render the fund’s network services unavailable to intended end-users. These breaches may, among other things, lead to the unauthorized release of confidential information, misuse of the fund’s assets or sensitive information, the disruption of the fund’s operational capacity, the inability of fund shareholders to transact business, or the destruction of the fund’s physical infrastructure, equipment or operating systems. These events could cause the fund to violate applicable privacy and other laws and could subject the fund to reputational damage, additional costs associated with corrective measures and/or financial loss. The fund may also be subject to additional risks if its third-party service providers, such as the fund’s investment adviser, transfer agent, custodian, administrators and other financial intermediaries, experience similar cybersecurity breaches and potential outcomes. Cybersecurity risks may also impact issuers of securities in which the fund invests, which may cause the fund’s investments in such issuers to lose value.
Large shareholder transactions risk — The fund may experience adverse effects when shareholders, including other funds or accounts advised by the investment adviser, purchase or redeem, individually or in the aggregate, large amounts of shares relative to the size of the fund. For example, when the investment adviser changes allocations in other funds and accounts it manages, such changes may result in shareholder transactions in the fund that are large relative to the size of the fund. Such large shareholder redemptions may cause the fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the fund’s net asset value and liquidity. Similarly, large fund share purchases may adversely affect the fund’s performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the fund’s current expenses being allocated over a smaller asset base, leading to an increase in the fund’s expense ratio. These risks are heightened when the fund is small.
Washington Mutual Investors Fund / Prospectus 12
In addition to the principal investment strategies described above, the fund has other investment practices that are described in the statement of additional information, which includes a description of other risks related to the fund’s principal investment strategies and other investment practices. The fund’s investment results will depend on the ability of the fund’s investment adviser to navigate the risks discussed above as well as those described in the statement of additional information.
Fund comparative indexes The investment results table in this prospectus shows how the fund’s average annual total returns compare with a broad measure of market results and, if applicable, other measures of market results that reflect the fund’s investment universe. The S&P 500 Index is a market capitalization-weighted index based on the results of approximately 500 widely held common stocks. This index is unmanaged, and its results include reinvested dividends and/or distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes.
Fund results All fund results in this prospectus reflect the reinvestment of dividends and capital gain distributions, if any. Unless otherwise noted, fund results reflect any fee waivers and/or expense reimbursements in effect during the periods presented.
Portfolio holdings Portfolio holdings information for the fund is available on our website at capitalgroup.com. A description of the fund’s policies and procedures regarding disclosure of information about its portfolio holdings is available in the statement of additional information.
13 Washington Mutual Investors Fund / Prospectus
Management and organization
Investment adviser Capital Research and Management Company, an experienced investment management organization founded in 1931, serves as the investment adviser to the fund and other funds, including the American Funds. Capital Research and Management Company is a wholly owned subsidiary of The Capital Group Companies, Inc. and is located at 333 South Hope Street, Los Angeles, California 90071. Capital Research and Management Company manages the investment portfolio and business affairs of the fund. The total management fee paid by the fund to its investment adviser for the most recent fiscal year, as a percentage of average net assets, appears in the Annual Fund Operating Expenses table under “Fees and expenses of the fund.” Please see the statement of additional information for further details. A discussion regarding the basis for approval of the fund’s Investment Advisory and Service Agreement by the fund’s board of trustees is contained in the fund’s report in Form N-CSR/S for the fiscal period ended April 30, 2026.
Capital Research and Management Company manages equity assets through three equity investment divisions and fixed income assets through its fixed income investment division, Capital Fixed Income Investors. The three equity investment divisions — Capital International Investors, Capital Research Global Investors and Capital World Investors — make investment decisions independently of one another.
The equity investment divisions may, in the future, be incorporated as wholly owned subsidiaries of Capital Research and Management Company. In that event, Capital Research and Management Company would continue to be the investment adviser, and day-to-day investment management of equity assets would continue to be carried out through one or more of these subsidiaries. Although not currently contemplated, Capital Research and Management Company could incorporate its fixed income investment division in the future and engage it to provide day-to-day investment management of fixed income assets. Capital Research and Management Company and each of the funds it advises have received an exemptive order from the U.S. Securities and Exchange Commission that allows Capital Research and Management Company to use, upon approval of the fund’s board, its management subsidiaries and affiliates to provide day-to-day investment management services to the fund, including making changes to the management subsidiaries and affiliates providing such services. The fund’s shareholders have approved this arrangement; however, there is no assurance that Capital Research and Management Company will incorporate its investment divisions or exercise any authority granted to it under the exemptive order.
Washington Mutual Investors Fund / Prospectus 14
The Capital SystemTM Capital Research and Management Company uses a system of multiple portfolio managers in managing mutual fund assets. Under this approach, the portfolio of a fund is divided into segments managed by individual managers. In addition, Capital Research and Management Company’s investment analysts may make investment decisions with respect to a portion of a fund’s portfolio. Investment decisions are subject to a fund’s objective(s), policies and restrictions and the oversight of the appropriate investment-related committees of Capital Research and Management Company and its investment divisions.
The table below shows the investment experience and role in management of the fund for each of the fund’s primary portfolio managers.
| Portfolio manager | Investment experience |
Portfolio
manager in this fund since: |
Role
in management of the fund |
| Aline Avzaradel | Investment professional since 2001 (with Capital Research and Management Company or affiliate since 2004) | 2021, and previously an investment analyst for the fund since 2014 | Serves as an equity portfolio manager |
| Alan N. Berro | Investment professional since 1986 (with Capital Research and Management Company or affiliate since 1991) | 1998, and previously an investment analyst for the fund since 1991 | Serves as an equity portfolio manager |
| Mark L. Casey | Investment professional since 2000 (all with Capital Research and Management Company or affiliate) | 2016, and previously an investment analyst for the fund since 2002 | Serves as an equity portfolio manager |
| Irfan M. Furniturewala | Investment professional since 2001 (all with Capital Research and Management Company or affiliate) | 2015,
and previously an investment analyst for the fund since 2014 |
Serves as an equity portfolio manager |
| Emme Kozloff | Investment professional since 1999 (with Capital Research and Management Company or affiliate since 2006) | 2016 | Serves as an equity portfolio manager |
15 Washington Mutual Investors Fund / Prospectus
| Portfolio manager | Investment experience |
Portfolio
manager in this fund since: |
Role
in management of the fund |
| Jin Lee | Investment professional since 1996 (with Capital Research and Management Company or affiliate since 1997) | 2014 | Serves as an equity portfolio manager |
| Eric H. Stern | Investment professional since 1989 (with Capital Research and Management Company or affiliate since 1991) | 2014 | Serves as an equity portfolio manager |
| Diana Wagner | Investment professional since 1995 (with Capital Research and Management Company or affiliate since 2000) | 2014, and previously an investment analyst for the fund since 2002 | Serves as an equity portfolio manager |
Information regarding the portfolio managers’ compensation, their ownership of securities in the fund and other accounts they manage is in the statement of additional information.
Certain privileges and/or services described on the following pages of this prospectus and in the statement of additional information may not be available to you, depending on your investment dealer or retirement plan recordkeeper. Please see your financial professional or retirement plan recordkeeper for more information.
Washington Mutual Investors Fund / Prospectus 16
Shareholder information
Shareholder services American Funds Service Company, the fund’s transfer agent, offers a wide range of services that you can use to alter your investment program should your needs or circumstances change. These services may be terminated or modified at any time upon 60 days’ prior written notice.
A more detailed description of policies and services is included in the fund’s statement of additional information and the owner’s guide sent to new American Funds shareholders entitled Welcome. Class 529 shareholders should also refer to the applicable program description for information on policies and services relating specifically to their account(s). These documents are available by writing to or calling American Funds Service Company.
17 Washington Mutual Investors Fund / Prospectus
Unless otherwise noted or unless the context requires otherwise, references on the following pages to (i) Class A, C or F shares also refer to the corresponding Class 529-A, 529-C or 529-F shares, (ii) Class F shares refer to Class F-1, F-2 and F-3 shares and (iii) Class R shares refer to Class R-1, R-2, R-2E, R-3, R-4, R-5E, R-5 and R-6 shares.
Purchase, exchange and sale of shares The fund’s transfer agent, on behalf of the fund and Capital Client Group, Inc., the fund’s distributor, is required by law to obtain certain personal information from you or any other person(s) acting on your behalf in order to verify your identity or such other person’s identity. If you do not provide the information, the transfer agent may not be able to open your account. If the transfer agent is unable to verify your identity or that of any other person(s) authorized to act on your behalf, or believes it has identified potentially criminal activity, the fund and Capital Client Group, Inc. reserve the right to close your account or take such other action they deem reasonable or required by law.
When purchasing shares, you should designate the fund or funds in which you wish to invest. Subject to the exception below, if no fund is designated, your money will be held uninvested (without liability to the transfer agent for loss of income or appreciation pending receipt of proper instructions) until investment instructions are received, but for no more than three business days. Your investment will be made at the net asset value (plus any applicable sales charge, in the case of Class A shares) next determined after investment instructions are received and accepted by the transfer agent. If investment instructions are not received, your money will be invested in Class A shares of American Funds® U.S. Government Money Market Fund on the third business day after receipt of your investment.
If the amount of your cash investment is $10,000 or less, no fund is designated, and you made a cash investment (excluding exchanges) within the last 16 months, your money will be invested in the same proportion and in the same fund or funds and in the same class of shares in which your last cash investment was made. If you only have one open fund, the money will be invested into such fund on the day received if the investment is otherwise in good order.
Different procedures may apply to certain employer-sponsored arrangements, including, but not limited to, SEP plans, SIMPLE IRA plans and CollegeAmerica accounts.
Valuing shares The net asset value of each share class of the fund is the value of a single share of that class. Net asset value is computed by adding a class’s share of the value of a fund’s investments, cash and other assets, subtracting the class’s share of the fund’s liabilities allocated to the class, and dividing the result by the number of shares of that class that are outstanding. Realized investment income and gain is included in the fund’s net asset value until the ex-dividend date, when the declared dividend amount is treated as a fund liability. The net asset value per share is calculated once daily as of the close of regular trading on the New York Stock Exchange, normally 4 p.m. New York time, each day the New York Stock Exchange is open. If the New York Stock Exchange makes a scheduled (e.g., the day after Thanksgiving) or an unscheduled close prior to 4 p.m. New York time, the net asset value of the fund will be determined at approximately the time the New York Stock Exchange closes on that day. If on such a day market quotations and prices from third-party pricing services are not based as of the time of the early close of the New York Stock Exchange but are as of a later time (up to approximately 4 p.m. New York time), for example because the market remains open after the close of the New
Washington Mutual Investors Fund / Prospectus 18
York Stock Exchange, those later market quotations and prices will be used in determining the fund’s net asset value.
Equity securities are valued primarily on the basis of market quotations, and debt securities are valued primarily on the basis of prices from third-party pricing services due to the lack of market quotations. Futures contracts are valued primarily on the basis of settlement prices. The fund’s portfolio investments are valued in accordance with procedures for making fair value determinations if market quotations are not readily available, including procedures to determine the representativeness of third-party vendor prices, or in the event market quotations or third-party vendor prices are not considered reliable. For example, if events occur between the close of markets outside the United States and the close of regular trading on the New York Stock Exchange that, in the opinion of the investment adviser, materially affect the value of any of the fund’s equity securities that trade principally in those international markets, those securities will be valued in accordance with fair value procedures. Similarly, fair value procedures will be employed if an issuer defaults on its debt securities and there is no market for its securities. Use of these procedures is intended to result in more appropriate net asset values and, where applicable, to reduce potential arbitrage opportunities otherwise available to short-term investors.
Your shares will be purchased at the net asset value (plus any applicable sales charge, in the case of Class A shares) or sold at the net asset value next determined after American Funds Service Company receives your request, provided that your request contains all information and legal documentation necessary to process the transaction. Orders in good order received after the New York Stock Exchange closes (scheduled or unscheduled) will be processed at the net asset value (plus any applicable sales charge) calculated on the following business day. A contingent deferred sales charge may apply at the time you sell certain Class A and C shares.
Purchase of Class A and C shares You may generally open an account and purchase Class A and C shares by contacting any financial professional (who may impose transaction charges in addition to those described in this prospectus) authorized to sell the fund’s shares. You may purchase additional shares in various ways, including through your financial professional and by mail, telephone, the Internet and bank wire.
Automatic conversion of Class C and Class 529-C shares Class C shares automatically convert to Class A shares in the month of the 8-year anniversary of the purchase date. Class 529-C shares automatically convert to Class 529-A shares, in the month of the 5-year anniversary of the purchase date. The Internal Revenue Service currently takes the position that such automatic conversions are not taxable. Should its position change, the automatic conversion feature may be suspended. If this were to happen, you would have the option of converting your Class C shares to Class A shares or your Class 529-C shares to Class 529-A shares at the anniversary date described above. This exchange would be based on the relative net asset values of the two classes in question, without the imposition of a sales charge or fee, but you might face certain tax consequences as a result.
Purchase of Class F shares You may generally open an account and purchase Class F shares only through fee-based programs of investment dealers that have special agreements with the fund’s distributor, through financial intermediaries that have been approved by, and that have special agreements with, the fund’s distributor to offer
19 Washington Mutual Investors Fund / Prospectus
Class F shares to self-directed investment brokerage accounts that may charge a transaction fee, through certain registered investment advisors and through other intermediaries approved by the fund’s distributor. These intermediaries typically charge ongoing fees for services they provide. Intermediary fees are not paid by the fund and normally range from .75% to 1.50% of assets annually, depending on the services offered.
Class F-2, F-3, 529-F-2 and 529-F-3 shares may also be available on brokerage platforms of firms that have agreements with the fund’s distributor to offer such shares solely when acting as an agent for the investor. An investor transacting in Class F-2, F-3, 529-F-2 or 529-F-3 shares in these programs may be required to pay a commission and/or other forms of compensation to the broker. Shares of the fund are available in other share classes that have different fees and expenses.
In addition, upon approval by an officer of the fund’s investment adviser, Class F-3 shares (but not Class 529-F-3 shares) are available to institutional investors, which include, but are not limited to, charitable organizations, governmental institutions, corporations and financial intermediaries. For accounts held and serviced by the fund’s transfer agent the minimum investment amount is $1 million.
Purchase of Class 529 shares Class 529 shares may be purchased only through an account established with a 529 college savings plan managed by Capital Research and Management Company. You may open this type of account and purchase Class 529 shares by contacting any financial professional (who may impose transaction charges in addition to those described in this prospectus) authorized to sell such an account. You may purchase additional shares in various ways, including through your financial professional and by mail, telephone, the Internet and bank wire.
Class 529-E shares may be purchased only by employees participating through an eligible employer plan.
Accounts holding Class 529 shares are subject to a $10 account setup fee and an annual $10 account maintenance fee. These fees are waived until further notice.
Investors residing in any state may purchase Class 529 shares through an account established with a 529 college savings plan managed by Capital Research and Management Company. Class 529-A, 529-C and 529-F shares are structured similarly to the corresponding Class A, C and F shares.
Purchase of Class R shares Class R shares are generally available only to retirement plans established under Internal Revenue Code Sections 401(a), 403(b) or 457, and to nonqualified deferred compensation plans and certain voluntary employee benefit association and post-retirement benefit plans. Class R shares also are generally available only to retirement plans for which plan level or omnibus accounts are held on the books of the fund. Class R-5E, R-5 and R-6 shares are generally available only to fee-based programs or through retirement plan intermediaries. Class R-3 and Class R-5E shares are available through the American Funds SIMPLE IRA Plus Program and other similar programs. In addition, Class R-5 and R-6 shares are available for investment by other registered investment companies and collective investment trusts approved by the fund’s investment adviser or distributor. Except as otherwise provided in this prospectus, Class R shares are generally not available for purchase to retail nonretirement accounts; traditional and Roth individual retirement accounts (IRAs); Coverdell Education Savings
Washington Mutual Investors Fund / Prospectus 20
Accounts; SEPs, SARSEPs and SIMPLE IRAs held in brokerage accounts; and 529 college savings plans. Class R-6 shares are available to employer-sponsored SEPs, SARSEPs and SIMPLE IRAs held in fee-based programs that are serviced through retirement plan recordkeepers.
Purchases by employer-sponsored retirement plans Eligible retirement plans generally may open an account and purchase Class A or R shares by contacting any investment dealer (who may impose transaction charges in addition to those described in this prospectus) authorized to sell these classes of the fund’s shares. Some or all R share classes may not be available through certain investment dealers. Additional shares may be purchased through a plan’s administrator or recordkeeper.
Class A shares are generally not available for retirement plans using the PlanPremier® or Recordkeeper Direct® recordkeeping programs. These programs are proprietary recordkeeping solutions for small retirement plans.
Employer-sponsored retirement plans that are eligible to purchase Class R shares may instead purchase Class A shares and pay the applicable Class A sales charge, provided that their recordkeepers can properly apply a sales charge on plan investments. These plans are not eligible to make initial purchases at the net asset value breakpoint in Class A shares and thereby invest in Class A shares without a sales charge, nor are they eligible to establish a statement of intention that qualifies them to purchase Class A shares without a sales charge. More information about statements of intention can be found under “Sales charge reductions and waivers” in this prospectus. Plans investing in Class A shares with a sales charge may purchase additional Class A shares in accordance with the sales charge table in this prospectus.
Employer-sponsored retirement plans that invested in American Funds Class A shares without any sales charge before April 1, 2004, and that continue to meet the eligibility requirements in effect as of that date for purchasing Class A shares at net asset value, may continue to purchase American Funds Class A shares without any initial or contingent deferred sales charge.
A 403(b) plan may not invest in American Funds Class A or C shares unless it was invested in Class A or C shares before January 1, 2009.
Purchase minimums and maximums Purchase minimums described in this prospectus may be waived in certain cases. Minimums are currently waived for purchases of Class F-2 and F-3 shares held under fee-based programs. In addition, the fund reserves the right to redeem the shares of any shareholder for their then current net asset value per share if the shareholder’s aggregate investment in the fund falls below the fund’s minimum initial investment amount. See the statement of additional information for details.
For accounts established with an automatic investment plan, the initial purchase minimum of $250 may be waived if the purchases (including purchases through exchanges from another fund) made under the plan are sufficient to reach $250 within five months of account establishment.
The effective purchase maximums for Class 529-A, 529-C, 529-E and 529-F shares will reflect the maximum applicable contribution limits under state law. See the applicable program description for more information.
21 Washington Mutual Investors Fund / Prospectus
If you have significant Capital Group Funds holdings, you may not be eligible to invest in Class C or 529-C shares. Specifically, you may not purchase Class C or 529-C shares if you are eligible to purchase Class A or 529-A shares at net asset value. See “Sales charge reductions and waivers” in this prospectus and the statement of additional information for more details regarding sales charge discounts.
Exchange Except as otherwise described in this prospectus, you may exchange your shares for shares of the same class of other Capital Group Funds without a sales charge. Class A, C or F shares of any American Fund (other than American Funds U.S. Government Money Market Fund, as described below) may be exchanged for the corresponding 529 share class without a sales charge. Exchanges from Class A, C or F shares to the corresponding 529 share class, particularly in the case of Uniform Gifts to Minors Act or Uniform Transfers to Minors Act custodial accounts, may result in significant legal and tax consequences, as described in the applicable program description. Please consult your financial professional before making such an exchange.
Exchanges of shares from American Funds U.S. Government Money Market Fund initially purchased without a sales charge to shares of other Capital Group Funds will be subject to the appropriate sales charge applicable to the other fund, unless the American Funds U.S. Government Money Market Fund shares were acquired by an exchange from a fund having a sales charge or by reinvestment or cross-reinvestment of dividends or capital gain distributions. For purposes of computing the contingent deferred sales charge on Class C shares, the length of time you have owned your shares will be measured from the first day of the month in which shares were purchased and will not be affected by any permitted exchange.
Exchanges have the same tax consequences as ordinary sales and purchases. For example, to the extent you exchange shares held in a taxable account that are worth more now than what you paid for them, the gain will be subject to taxation.
See “Transactions by telephone, fax or the Internet” in the section “How to sell shares” of this prospectus for information regarding electronic exchanges.
Please see the statement of additional information for details and limitations on moving investments in certain share classes to different share classes and on moving investments held in certain accounts to different accounts.
Washington Mutual Investors Fund / Prospectus 22
How to sell shares
You may sell (redeem) shares in any of the following ways:
Employer-sponsored retirement plans
Shares held in eligible retirement plans may be sold through the plan’s administrator or recordkeeper.
Through your dealer or financial advisor (certain charges may apply)
· Shares held for you in your dealer’s name must be sold through the dealer.
· Class F shares must be sold through intermediaries such as dealers or financial advisors.
Writing to American Funds Service Company
· Requests must be signed by the registered shareholder(s).
· A signature guarantee is required if the redemption is:
— more than $250,000;
— made payable to someone other than the registered shareholder(s); or
— sent to an address other than the address of record or to an address of record that has been changed within the previous 10 days.
· American Funds Service Company reserves the right to require signature guarantee(s) on any redemption.
· Additional documentation may be required for redemptions of shares held in corporate, partnership or fiduciary accounts.
Telephoning or faxing American Funds Service Company
· Redemptions by telephone or fax are limited to $250,000 per American Funds shareholder each day.
· Checks must be made payable to the registered shareholder.
· Checks must be mailed to an address of record that has been used with the account for at least 10 days.
Self service using the Internet (capitalgroup.com) or Interactive Voice Response (IVR)
· Redemptions by IVR or the Internet (capitalgroup.com) are limited to $125,000 per American Funds shareholder each day.
· Checks must be made payable to the registered shareholder.
· Checks must be mailed to an address of record that has been used with the account for at least 10 days.
The fund typically expects to remit redemption proceeds one business day following receipt and acceptance of a redemption order, regardless of the method the fund uses to make such payment (e.g., check, wire or automated clearing house transfer). However, payment may take longer than one business day and may take up to seven days as generally permitted by the Investment Company Act of 1940, as amended (the “1940 Act”). Under the 1940 Act, the fund may be permitted to pay redemption proceeds beyond seven days under certain limited circumstances. In addition, if you recently purchased shares and subsequently request a redemption of those shares, the fund will pay the available redemption proceeds once a sufficient period of time has passed to
23 Washington Mutual Investors Fund / Prospectus
reasonably ensure that checks or drafts, including certified or cashier’s checks, for the shares purchased have cleared (normally seven business days from the purchase date).
Under normal conditions, the fund typically expects to meet shareholder redemptions from a reserve of highly liquid assets, such as cash or cash equivalents. The fund may use additional methods to meet shareholder redemptions, if they become necessary. These methods may include, but are not limited to, the sale of portfolio assets, the use of overdraft protection afforded by the fund’s custodian bank, borrowing from a line of credit or from other funds advised by the investment adviser or its affiliates, and making payment with fund securities or other fund assets rather than in cash (as further discussed in the following paragraph).
Although payment of redemptions normally will be in cash, the fund’s declaration of trust permits payment of the redemption price wholly or partly with portfolio securities or other fund assets under conditions and circumstances determined by the fund’s board of trustees. On the same redemption date, some shareholders may be paid in whole or in part in securities (which may differ among those shareholders), while other shareholders may be paid entirely in cash. In general, in-kind redemptions to affiliated shareholders will as closely as practicable represent the affiliated shareholder’s pro rata share of the fund’s securities, subject to certain exceptions. Securities distributed in-kind to unaffiliated shareholders will be selected by the investment adviser in a manner the investment adviser deems to be fair and reasonable to the fund’s shareholders, taking into account relevant market conditions and limitations. The disposal of the securities received in-kind may be subject to brokerage costs and, until sold, such securities remain subject to market risk and liquidity risk, including the risk that such securities are or become difficult to sell. If the fund pays your redemption with illiquid or less liquid securities, you will bear the risk of not being able to sell such securities.
Transactions by telephone, fax or the Internet Generally, you are automatically eligible to redeem or exchange shares by telephone, fax or the Internet, unless you notify us in writing that you do not want any or all of these services. You may reinstate these services at any time.
Unless you decide not to have telephone, fax or Internet services on your account(s), you agree to hold the fund, American Funds Service Company, any of its affiliates or mutual funds managed by such affiliates, and each of their respective directors, trustees, officers, employees and agents harmless from any losses, expenses, costs or liabilities (including attorney fees) that may be incurred in connection with the exercise of these privileges, provided that American Funds Service Company employs reasonable procedures to confirm that the instructions received from any person with appropriate account information are genuine. If reasonable procedures are not employed, American Funds Service Company and/or the fund may be liable for losses due to unauthorized or fraudulent instructions.
Frequent trading of fund shares The fund and Capital Client Group, Inc. reserve the right to reject any purchase order for any reason. The fund is not designed to serve as a vehicle for frequent trading. Frequent trading of fund shares may lead to increased costs to the fund and less efficient management of the fund’s portfolio, potentially resulting in dilution of the value of the shares held by long-term shareholders. Accordingly, purchases, including those that are part of exchange activity, that the fund or Capital
Washington Mutual Investors Fund / Prospectus 24
Client Group, Inc. has determined could involve actual or potential harm to the fund may be rejected.
The fund, through its transfer agent, American Funds Service Company, maintains surveillance procedures that are designed to detect frequent trading in fund shares. Under these procedures, various analytics are used to evaluate factors that may be indicative of frequent trading. For example, transactions in fund shares that exceed certain monetary thresholds may be scrutinized. American Funds Service Company also may review transactions that occur close in time to other transactions in the same account or in multiple accounts under common ownership or influence. Trading activity that is identified through these procedures or as a result of any other information available to the fund will be evaluated to determine whether such activity might constitute frequent trading. These procedures may be modified from time to time as appropriate to improve the detection of frequent trading, to facilitate monitoring for frequent trading in particular retirement plans or other accounts and to comply with applicable laws.
Under the fund’s frequent trading policy, certain trading activity will not be treated as frequent trading, such as:
· transactions in Class 529 shares;
· purchases and redemptions by investment companies managed or sponsored by the fund’s investment adviser or its affiliates, including reallocations and transactions allowing the investment company to meet its redemptions and purchases;
· retirement plan contributions, loans and distributions (including hardship withdrawals) identified as such on the retirement plan recordkeeper’s system;
· purchases and redemptions in community foundation accounts;
· purchase transactions involving in-kind transfers of shares of the fund, rollovers, Roth IRA conversions and IRA recharacterizations, if the entity maintaining the shareholder account is able to identify the transaction as one of these types of transactions;
· transactions by certain intermediaries in accordance with established hedging programs approved by the fund’s investment adviser;
· fund share redemptions by certain counterparties approved by the fund’s investment adviser to facilitate non pro-rata redemptions in-kind; and
· systematic redemptions and purchases, if the entity maintaining the shareholder account is able to identify the transaction as a systematic redemption or purchase.
Generally, purchases and redemptions will not be considered “systematic” unless the transaction is prescheduled for a specific date.
American Funds Service Company will work with certain intermediaries (such as investment dealers holding shareholder accounts in street name, retirement plan recordkeepers, insurance company separate accounts and bank trust companies) to apply their own procedures, provided that American Funds Service Company believes the intermediary’s procedures are reasonably designed to enforce the frequent trading policies of the fund. You should refer to disclosures provided by the intermediaries with which you have an account to determine the specific trading restrictions that apply to you.
If American Funds Service Company identifies any activity that may constitute frequent trading, it reserves the right to contact the intermediary and request that the
25 Washington Mutual Investors Fund / Prospectus
intermediary either provide information regarding an account owner’s transactions or restrict the account owner’s trading. If American Funds Service Company is not satisfied that the intermediary has taken appropriate action, American Funds Service Company may terminate the intermediary’s ability to transact in fund shares.
There is no guarantee that all instances of frequent trading in fund shares will be prevented.
Notwithstanding the fund’s surveillance procedures described above, all transactions in fund shares remain subject to the right of the fund, Capital Client Group, Inc. and American Funds Service Company to restrict potentially abusive trading generally, including the types of transactions described above that will not be prevented. See the statement of additional information for more information about how American Funds Service Company may address other potentially abusive trading activity in American Funds.
Washington Mutual Investors Fund / Prospectus 26
Distributions and taxes
Dividends and distributions The fund intends to distribute dividends to you, usually in March, June, September and December.
Capital gains, if any, are usually distributed in June and December. When a dividend or capital gain is distributed, the net asset value per share is reduced by the amount of the payment.
You may elect to reinvest dividends and/or capital gain distributions to purchase additional shares of this fund or other American Funds, or you may elect to receive them in cash. Dividends and capital gain distributions for 529 share classes and retirement plan shareholders will be reinvested automatically.
Taxes on dividends and distributions For federal tax purposes, dividends and distributions of short-term capital gains are taxable as ordinary income. If you are an individual and meet certain holding period requirements with respect to your fund shares, you may be eligible for reduced tax rates on “qualified dividend income,” if any, distributed by the fund to you. The fund’s distributions of net long-term capital gains are taxable as long-term capital gains. Any dividends or capital gain distributions you receive from the fund will normally be taxable to you when made, regardless of whether you reinvest dividends or capital gain distributions or receive them in cash.
Dividends and capital gain distributions that are automatically reinvested in a tax-favored retirement or education savings account do not result in federal or state income tax at the time of reinvestment.
Taxes on transactions Your redemptions, including exchanges, may result in a capital gain or loss for federal tax purposes. A capital gain or loss on your investment is the difference between the cost of your shares, including any sales charges, and the amount you receive when you sell them.
Exchanges within a tax-favored retirement plan account will not result in a capital gain or loss for federal or state income tax purposes. With limited exceptions, distributions from a retirement plan account are taxable as ordinary income.
Shareholder fees Fees borne directly by the fund normally have the effect of reducing a shareholder’s taxable income on distributions.
Please see your tax advisor for more information. Holders of Class 529 shares should refer to the applicable program description for more information regarding the tax consequences of selling Class 529 shares.
27 Washington Mutual Investors Fund / Prospectus
Choosing a share class The fund offers different classes of shares through this prospectus. The services or share classes available to you may vary depending upon how you wish to purchase shares of the fund.
Each share class represents an investment in the same portfolio of securities, but each class has its own sales charge and expense structure, allowing you to choose the class that best fits your situation. For example, while Class F-1 shares are subject to 12b-1 fees and subtransfer agency fees payable to third-party service providers, Class F-2 shares are subject only to subtransfer agency fees payable to third-party service providers (and not 12b-1 fees) and Class F-3 shares are not subject to any such additional fees. The different fee structures allow the investor to choose how to pay for advisory platform expenses. Class R shares offer different levels of 12b-1 and recordkeeping fees so that a plan can choose the class that best meets the cost associated with obtaining investment related services and participant level recordkeeping for the plan. When you purchase shares of the fund for an individual-type account, you should choose a share class. If none is chosen, your investment will be made in Class A shares or, in the case of a 529 plan investment, Class 529-A shares.
Factors you should consider when choosing a class of shares include:
· how long you expect to own the shares;
· how much you intend to invest;
· total expenses associated with owning shares of each class;
· whether you qualify for any reduction or waiver of sales charges (for example, Class A or 529-A shares may be a less expensive option over time, particularly if you qualify for a sales charge reduction or waiver);
· whether you plan to take any distributions in the near future (for example, the contingent deferred sales charge will not be waived if you sell your Class 529-C shares to cover higher education expenses); and
· availability of share classes:
— Class C shares are not available to retirement plans that do not currently invest in such shares and that are eligible to invest in Class R shares, including retirement plans established under Internal Revenue Code Sections 401(a) (including 401(k) plans), 403(b) or 457;
— Class F and 529-F shares are available, as applicable, (i) to fee-based programs of investment dealers that have special agreements with the fund’s distributor, (ii) to financial intermediaries that have been approved by, and that have special agreements with, the fund’s distributor to offer Class F and 529-F shares to self-directed investment brokerage accounts that may charge a transaction fee, (iii) to certain registered investment advisors and (iv) to other intermediaries approved by the fund’s distributor;
— Class F-3 shares (but not Class 529-F-3 shares) are also available to institutional investors, which include, but are not limited to, charitable organizations, governmental institutions, corporations and financial intermediaries. For accounts held and serviced by the fund’s transfer agent the minimum investment amount is $1 million; and
— Class R shares are available (i) to retirement plans established under Internal Revenue Code Sections 401(a) (including 401(k) plans), 403(b) or 457, (ii) to nonqualified deferred compensation plans and certain voluntary employee
Washington Mutual Investors Fund / Prospectus 28
benefit association and post-retirement benefit plans, (iii) to certain institutional investors (including, but not limited to, certain charitable organizations), (iv) to certain registered investment companies approved by the fund’s investment adviser or distributor and (v) to other institutional-type accounts.
Each investor’s financial considerations are different. You should speak with your financial professional to help you decide which share class is best for you.
29 Washington Mutual Investors Fund / Prospectus
Sales charges
Class A and 529-A shares The initial sales charge you pay each time you buy Class A or 529-A shares differs depending upon the amount you invest and may be reduced or eliminated for larger purchases as indicated below. The “offering price,” the price you pay to buy shares, includes any applicable sales charge, which will be deducted directly from your investment. Shares acquired through reinvestment of dividends or capital gain distributions are not subject to an initial sales charge.
Class A shares
| Sales
charge as a percentage of: |
|||
| Investment | Offering price | Net
amount invested |
Dealer
commission as a percentage of offering price |
| Less than $25,000 | 5.75% | 6.10% | 5.00% |
| $25,000 but less than $50,000 | 5.00 | 5.26 | 4.25 |
| $50,000 but less than $100,000 | 4.50 | 4.71 | 3.75 |
| $100,000 but less than $250,000 | 3.50 | 3.63 | 2.75 |
| $250,000 but less than $500,000 | 2.50 | 2.56 | 2.00 |
| $500,000 but less than $750,000 | 2.00 | 2.04 | 1.60 |
| $750,000 but less than $1 million | 1.50 | 1.52 | 1.20 |
| $1 million or more and certain other investments described below | none | none | see below |
Class 529-A shares
| Sales
charge as a percentage of: |
|||
| Investment | Offering price | Net
amount invested |
Dealer
commission as a percentage of offering price |
| Less than $250,000 | 3.50% | 3.63% | 2.75% |
| $250,000 but less than $500,000 | 2.50 | 2.56 | 2.00 |
| $500,000 but less than $750,000 | 2.00 | 2.04 | 1.60 |
| $750,000 but less than $1 million | 1.50 | 1.52 | 1.20 |
| $1
million or more and certain other investments described below |
none | none | see below |
The sales charge, expressed as a percentage of the offering price or the net amount invested, may be higher or lower than the percentages described in the table above due to rounding. This is because the dollar amount of the sales charge is determined by subtracting the net asset value of the shares purchased from the offering price, which is calculated to two decimal places using standard rounding criteria. The impact of rounding will vary with the size of the investment and the net asset value of the shares. Similarly, any contingent deferred sales charge paid by you on investments in Class A or 529-A shares may be higher or lower than the 1% charge described below due to rounding.
Washington Mutual Investors Fund / Prospectus 30
Except as provided below, investments in Class A shares of $1 million or more will be subject to a 1% contingent deferred sales charge if the shares are sold within 18 months of purchase. The contingent deferred sales charge is based on the original purchase cost or the current market value of the shares being sold, whichever is less.
Class A share purchases not subject to sales charges The following investments are not subject to any initial or contingent deferred sales charge if American Funds Service Company is properly notified of the nature of the investment:
· investments made by accounts that are part of qualified fee-based programs that purchased Class A shares before the discontinuation of the relevant investment dealer’s load-waived Class A share program with American Funds and that continue to be held through fee-based programs;
· rollover investments from retirement plans to IRAs that are described in the “Rollovers from retirement plans to IRAs” section of this prospectus;
· investments made by accounts held at American Funds Service Company that are no longer associated with a financial professional may invest in Class A shares without a sales charge. This includes retirement plans investing in Class A shares, where the plan is no longer associated with a financial professional. SIMPLE IRAs and 403(b) custodial accounts that are aggregated at the plan level for Class A sales charge purposes are not eligible to invest without a sales charge under this policy; and
· Investments made by accounts held through banks and bank trust companies that charge a fee for custodial services and do not have a financial professional assigned to the account.
The distributor may pay dealers a commission of up to 1% on investments made in Class A shares with no initial sales charge. The fund may reimburse the distributor for these payments through its plans of distribution (see “Plans of distribution” in this prospectus).
A transfer from the Virginia Prepaid Education ProgramSM or the Virginia Education Savings TrustSM to a CollegeAmerica® account will be made with no sales charge. No commission will be paid to the dealer on such a transfer. Investment dealers will be compensated solely with an annual service fee that begins to accrue immediately.
If requested, American Funds Class A shares will be sold at net asset value to:
(1) currently registered representatives and assistants directly employed by such representatives, retired registered representatives with respect to accounts established while active, or full-time employees (collectively, “Eligible Persons”) (and their (a) spouses or equivalents if recognized under local law, (b) parents and children, including parents and children in step and adoptive relationships, sons-in-law and daughters-in-law, and (c) parents-in-law, if the Eligible Persons or the spouses, children or parents of the Eligible Persons are listed in the account registration with the parents-in-law) of dealers who have sales agreements with Capital Client Group, Inc. (or who clear transactions through such dealers), plans for the dealers, and plans that include as participants only the Eligible Persons, their spouses, parents and/or children;
(2) the supervised persons of currently registered investment advisory firms (“RIAs”) and assistants directly employed by such RIAs, retired supervised persons of RIAs with respect to accounts established while a supervised person
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(collectively, “Eligible Persons”) (and their (a) spouses or equivalents if recognized under local law, (b) parents and children, including parents and children in step and adoptive relationships, sons-in-law and daughters-in-law and (c) parents-in-law, if the Eligible Persons or the spouses, children or parents of the Eligible Persons are listed in the account registration with the parents-in-law) of RIA firms that are authorized to sell shares of the funds, plans for the RIA firms, and plans that include as participants only the Eligible Persons, their spouses, parents and/or children;
(3) insurance company separate accounts;
(4) accounts managed by subsidiaries of The Capital Group Companies, Inc.;
(5) an individual or entity with a substantial business relationship with The Capital Group Companies, Inc. or its affiliates, or an individual or entity related or relating to such individual or entity;
(6) wholesalers and full-time employees directly supporting wholesalers involved in the distribution of insurance company separate accounts whose underlying investments are managed by any affiliate of The Capital Group Companies, Inc.;
(7) full-time employees of banks that have sales agreements with Capital Client Group, Inc. who are solely dedicated to directly supporting the sale of mutual funds; and
(8) current or former clients of Capital Group Private Client Services and their family members who purchase their shares through Capital Group Private Client Services or American Funds Service Company.
Shares are offered at net asset value to these persons and organizations due to anticipated economies in sales effort and expense. Once an account is established under this net asset value privilege, additional investments can be made at net asset value for the life of the account. Depending on the financial intermediary holding your account, these privileges may be unavailable. Investors should consult their financial intermediary for further information.
Certain other investors may qualify to purchase shares without a sales charge, such as employees of The Capital Group Companies, Inc. and its affiliates. Please see the statement of additional information for further details.
Class C shares Class C shares are sold without any initial sales charge. Capital Client Group, Inc. pays 1% of the amount invested to dealers who sell Class C shares. A contingent deferred sales charge of 1% applies if Class C shares are sold within one year of purchase. The contingent deferred sales charge is eliminated one year after purchase.
Any contingent deferred sales charge paid by you on sales of Class C shares, expressed as a percentage of the applicable redemption amount, may be higher or lower than the percentages described above due to rounding.
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Class 529-E and Class F shares Class 529-E and Class F shares (including Class 529-F shares) are sold without any initial or contingent deferred sales charge.
Class R shares Class R shares are sold without any initial or contingent deferred sales charge. The distributor will pay dealers annually asset-based compensation of up to 1.00% for sales of Class R-1 shares, up to .75% for Class R-2 shares, up to .60% for Class R-2E shares, up to .50% for Class R-3 shares and up to .25% for Class R-4 shares. No dealer compensation is paid from fund assets on sales of Class R-5E, R-5 or R-6 shares. The fund may reimburse the distributor for these payments through its plans of distribution.
See “Plans of distribution” in this prospectus for ongoing compensation paid to your financial professional for all share classes.
Contingent deferred sales charges Shares acquired through reinvestment of dividends or capital gain distributions are not subject to a contingent deferred sales charge. In addition, the contingent deferred sales charge may be waived in certain circumstances. See “Contingent deferred sales charge waivers” in the “Sales charge reductions and waivers” section of this prospectus. For purposes of determining the contingent deferred sales charge, if you sell only some of your shares, shares that are not subject to any contingent deferred sales charge will be sold first, followed by shares that you have owned the longest.
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Sales charge reductions and waivers To receive a reduction in your Class A initial sales charge, you must let your financial professional or American Funds Service Company know at the time you purchase shares that you qualify for such a reduction. If you do not let your financial professional or American Funds Service Company know that you are eligible for a reduction, you may not receive the sales charge discount to which you are otherwise entitled. In order to determine your eligibility to receive a sales charge discount, it may be necessary for you to provide your financial professional or American Funds Service Company with information and records (including account statements) of all relevant accounts invested in eligible shares of Capital Group Funds. You may need to invest directly through American Funds Service Company in order to receive the sales charge waivers described in this prospectus. Investors should consult their financial intermediary for further information. Certain financial intermediaries that distribute shares of American Funds may impose different sales charge waivers than those described in this prospectus. Such variations in sales charge waivers are described in an appendix to this prospectus titled “Sales charge waivers.” Note that such sales charge waivers and discounts offered through a particular intermediary, as set forth in the appendix to this prospectus, are implemented and administered solely by that intermediary. Please contact the applicable intermediary to ensure that you understand the steps you must take in order to qualify for any available waivers or discounts.
In addition to the information in this prospectus, you may obtain more information about share classes, sales charges and sales charge reductions and waivers through a link on the home page of our website at capitalgroup.com, from the statement of additional information or from your financial professional.
Reducing your Class A initial sales charge Consistent with the policies described in this prospectus, you and your “immediate family” (your spouse — or equivalent, if recognized under local law, your children under the age of 21 or disabled adult dependents covered by ABLE accounts) may combine all of your Capital Group Funds investments to reduce Class A sales charges. In addition, two or more retirement plans of an employer or an employer’s affiliates may combine all of their Capital Group Funds investments to reduce Class A sales charges. However, for this purpose, investments representing direct purchases of American Funds U.S. Government Money Market Fund Class A shares are excluded. Following are different ways that you may qualify for a reduced Class A sales charge:
Aggregating accounts To receive a reduced Class A sales charge, investments in Capital Group Funds made by you and your immediate family (see above) may be aggregated if made for your own account(s) and/or certain other accounts, such as:
· individual-type employee benefit plans, such as an IRA, single-participant Keogh-type plan, or a participant account of a 403(b) plan that is treated as an individual-type plan for sales charge purposes (see “Purchases by certain 403(b) plans” under “Rollovers from retirement plans to IRAs” below);
· SEP plans and SIMPLE IRA plans established after November 15, 2004, by an employer adopting any plan document other than a prototype plan produced by Capital Client Group, Inc.;
· business accounts solely controlled by you or your immediate family (for example, you own the entire business);
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· trust accounts established by you or your immediate family (for trusts with only one primary beneficiary, upon the trustor’s death the trust account may be aggregated with such beneficiary’s own accounts; for trusts with multiple primary beneficiaries, upon the trustor’s death the trustees of the trust may instruct American Funds Service Company to establish separate trust accounts for each primary beneficiary; each primary beneficiary’s separate trust account may then be aggregated with such beneficiary’s own accounts);
· endowments or foundations established and controlled by you or your immediate family; or
· 529 accounts, which will be aggregated at the account owner level (Class 529-E accounts may only be aggregated with an eligible employer plan).
Individual purchases by a trustee(s) or other fiduciary(ies) may also be aggregated if the investments are:
· for a single trust estate or fiduciary account, including employee benefit plans other than the individual-type employee benefit plans described above;
· made for two or more employee benefit plans of a single employer or of affiliated employers as defined in the 1940 Act, excluding the individual-type employee benefit plans described above;
· for a diversified common trust fund or other diversified pooled account not specifically formed for the purpose of accumulating fund shares;
· for nonprofit, charitable or educational organizations, or any endowments or foundations established and controlled by such organizations, or any employer-sponsored retirement plans established for the benefit of the employees of such organizations, their endowments, or their foundations;
· for participant accounts of a 403(b) plan that is treated as an employer-sponsored plan for sales charge purposes (see “Purchases by certain 403(b) plans” under “Rollovers from retirement plans to IRAs” below), or made for participant accounts of two or more such plans, in each case of a single employer or affiliated employers as defined in the 1940 Act; or
· for a SEP or SIMPLE IRA plan established after November 15, 2004, by an employer adopting a prototype plan produced by Capital Client Group, Inc.
Purchases made for nominee or street name accounts (securities held in the name of an investment dealer or another nominee such as a bank trust department instead of the customer) may not be aggregated with those made for other accounts and may not be aggregated with other nominee or street name accounts unless otherwise qualified as described above.
Joint accounts may be aggregated with other accounts belonging to the primary owner and/or his or her immediate family. The primary owner of a joint account is the individual responsible for taxes on the account.
Investments made through employer-sponsored retirement plan accounts will not be aggregated with individual-type accounts.
Concurrent purchases You may reduce your Class A sales charge by combining simultaneous purchases (including, upon your request, purchases for gifts) of all eligible classes of shares in Capital Group Funds. Shares of American Funds U.S. Government Money Market Fund purchased through an exchange, reinvestment or
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cross-reinvestment from a fund having a sales charge also qualify. However, direct purchases of American Funds U.S. Government Money Market Fund Class A shares are excluded. If you currently have individual holdings in American Legacy variable annuity contracts or variable life insurance policies that were established on or before March 31, 2007, you may continue to combine purchases made under such contracts and policies to reduce your Class A sales charge.
Rights of accumulation Subject to the limitations described in the aggregation policy, you may take into account your accumulated holdings in all eligible share classes of Capital Group Funds to determine your sales charge on investments in accounts eligible to be aggregated. Direct purchases of American Funds U.S. Government Money Market Fund Class A shares are excluded. Subject to your investment dealer’s or recordkeeper’s capabilities, your accumulated holdings will be calculated as the higher of (a) the current value of your existing holdings (the “market value”) as of the day prior to your American Funds investment or (b) the amount you invested (including reinvested dividends and capital gains, but excluding capital appreciation) less any withdrawals (the “cost value”). Depending on the entity on whose books your account is held, the value of your holdings in that account may not be eligible for calculation at cost value. For example, accounts held in nominee or street name may not be eligible for calculation at cost value and instead may be calculated at market value for purposes of rights of accumulation.
The value of all of your holdings in accounts established in calendar year 2005 or earlier will be assigned an initial cost value equal to the market value of those holdings as of the last business day of 2005. Thereafter, the cost value of such accounts will increase or decrease according to actual investments or withdrawals. You must contact your financial professional or American Funds Service Company if you have additional information that is relevant to the calculation of the value of your holdings.
When determining your American Funds Class A sales charge, if your investment is not in an employer-sponsored retirement plan, you may also continue to take into account the market value (as of the day prior to your American Funds investment) of your individual holdings in various American Legacy variable annuity contracts and variable life insurance policies that were established on or before March 31, 2007. An employer-sponsored retirement plan may also continue to take into account the market value of its investments in American Legacy Retirement Investment Plans that were established on or before March 31, 2007.
You may not purchase Class C or 529-C shares if such combined holdings cause you to be eligible to purchase Class A or 529-A shares at the $1 million or more sales charge discount rate (i.e., at net asset value).
If you make a gift of American Funds Class A shares, upon your request, you may purchase the shares at the sales charge discount allowed under rights of accumulation of all of your Capital Group Funds and applicable American Legacy accounts.
You should retain any records necessary to substantiate the historical amounts you have invested.
Statement of intention You may reduce your Class A sales charge by establishing a statement of intention. A statement of intention is a nonbinding commitment that allows you to combine all purchases of all eligible Capital Group Funds share classes
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(excluding American Funds U.S. Government Money Market Fund) that you intend to make over a 13-month period to determine the applicable sales charge; however, purchases made under a right of reinvestment, appreciation of your holdings, and reinvested dividends and capital gains do not count as purchases made during the statement period. Your accumulated holdings (as described and calculated under “Rights of accumulation” above) eligible to be aggregated as of the day immediately before the start of the statement period may be credited toward satisfying the statement. A portion of your account may be held in escrow to cover additional Class A sales charges that may be due if your total purchases over the statement period do not qualify you for the applicable sales charge reduction. Employer-sponsored retirement plans are restricted from establishing statements of intention. See the discussion regarding employer-sponsored retirement plans under “Purchase, exchange and sale of shares” in this prospectus for more information.
The statement of intention period starts on the date on which your first purchase made toward satisfying the statement of intention is processed. Your accumulated holdings (as described above under “Rights of accumulation”) eligible to be aggregated as of the day immediately before the start of the statement of intention period may be credited toward satisfying the statement of intention.
You may revise the commitment you have made in your statement of intention upward at any time during the statement of intention period. If your prior commitment has not been met by the time of the revision, the statement of intention period during which purchases must be made will remain unchanged. Purchases made from the date of the revision will receive the reduced sales charge, if any, resulting from the revised statement of intention. If your prior commitment has been met by the time of the revision, your original statement of intention will be considered met and a new statement of intention will be established.
The statement of intention will be considered completed if the shareholder dies within the 13-month statement of intention period. Commissions to dealers will not be adjusted or paid on the difference between the statement of intention amount and the amount actually invested before the shareholder’s death.
When a shareholder elects to use a statement of intention, shares equal to 5% of the dollar amount specified in the statement of intention may be held in escrow in the shareholder’s account out of the initial purchase (or subsequent purchases, if necessary) by American Funds Service Company. All dividends and any capital gain distributions on shares held in escrow will be credited to the shareholder’s account in shares (or paid in cash, if requested). If the intended investment is not completed within the specified statement of intention period the investments made during the statement period will be adjusted to reflect the difference between the sales charge actually paid and the sales charge which would have been paid if the total of such purchases had been made at a single time. Any dealers assigned to the shareholder’s account at the time a purchase was made during the statement period will receive a corresponding commission adjustment if appropriate.
In addition, if you currently have individual holdings in American Legacy variable annuity contracts or variable life insurance policies that were established on or before March 31, 2007, you may continue to apply purchases under such contracts and policies to a statement of intention.
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Shareholders purchasing shares at a reduced sales charge under a statement of intention indicate their acceptance of these terms and those in the prospectus with their first purchase.
Right of reinvestment If you notify American Funds Service Company prior to the time of reinvestment, you may reinvest proceeds from a redemption, dividend payment or capital gain distribution without a sales charge in the same fund or other Capital Group Funds, provided that the reinvestment occurs within 90 days after the date of the redemption, dividend payment or distribution and is made into the same account from which you redeemed the shares or received the dividend payment or distribution. If the account has been closed, you may reinvest without a sales charge if the new receiving account has the same registration as the closed account and the reinvestment is made within 90 days after the date of redemption, dividend payment or distribution.
Proceeds from a redemption and all dividend payments and capital gain distributions will be reinvested in the same share class from which the original redemption, dividend payment or distribution was made. Any contingent deferred sales charge on Class A or C shares will be credited to your account. Redemption proceeds of Class A shares representing direct purchases in American Funds U.S. Government Money Market Fund that are reinvested in other Capital Group Funds will be subject to a sales charge.
Proceeds will be reinvested at the next calculated net asset value after your request is received by American Funds Service Company, provided that your request contains all information and legal documentation necessary to process the transaction. For purposes of this “right of reinvestment policy,” automatic transactions (including, for example, automatic purchases, withdrawals and payroll deductions) and ongoing retirement plan contributions are not eligible for investment without a sales charge. This paragraph does not apply to certain rollover investments as described under “Rollovers from retirement plans to IRAs” in this prospectus. Depending on the financial intermediary holding your account, your reinvestment privileges may be unavailable or differ from those described in this prospectus. Investors should consult their financial intermediary for further information.
Contingent deferred sales charge waivers The contingent deferred sales charge on Class A and C shares will be waived in the following cases:
· permitted exchanges of shares, except if shares acquired by exchange are then redeemed within the period during which a contingent deferred sales charge would apply to the initial shares purchased;
· tax-free returns of excess contributions to IRAs;
· redemptions due to death or postpurchase disability of the shareholder (this generally excludes accounts registered in the names of trusts and other entities);
· in the case of joint tenant accounts, if one joint tenant dies, a surviving joint tenant, at the time he or she notifies American Funds Service Company of the other joint tenant’s death and removes the decedent’s name from the account, may redeem shares from the account without incurring a contingent deferred sales charge; however, redemptions made after American Funds Service Company is notified of the death of a joint tenant will be subject to a contingent deferred sales charge;
· for 529 share classes only, redemptions due to a beneficiary’s death, postpurchase disability or receipt of a scholarship (to the extent of the scholarship award);
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· redemptions due to the complete termination of a trust upon the death of the trustor/grantor or beneficiary, but only if such termination is specifically provided for in the trust document;
· shares redeemed at the discretion of American Funds Service Company for accounts that do not meet the fund’s minimum investment requirements, as described in this prospectus; and
· the following types of transactions, if they do not exceed 12% of the value of an account annually:
— required minimum distributions taken from retirement accounts in accordance with IRS regulations; and
— redemptions through an automatic withdrawal plan (“AWP”) (see “Automatic withdrawals” under “Shareholder account services and privileges” in the statement of additional information). For each AWP payment, assets that are not subject to a contingent deferred sales charge, such as shares acquired through reinvestment of dividends and/or capital gain distributions, will be redeemed first and will count toward the 12% limit. If there is an insufficient amount of assets not subject to a contingent deferred sales charge to cover a particular AWP payment, shares subject to the lowest contingent deferred sales charge will be redeemed next until the 12% limit is reached. Any dividends and/or capital gain distributions taken in cash by a shareholder who receives payments through an AWP will also count toward the 12% limit. In the case of an AWP, the 12% limit is calculated at the time an automatic redemption is first made, and is recalculated at the time each additional automatic redemption is made. Shareholders who establish an AWP should be aware that the amount of a payment not subject to a contingent deferred sales charge may vary over time depending on fluctuations in the value of their accounts. This privilege may be revised or terminated at any time.
For purposes of this paragraph, “account” means your investment in the applicable class of shares of the particular fund from which you are making the redemption.
The contingent deferred sales charge on American Funds Class A shares may be waived in cases where the fund’s transfer agent determines the benefit to the fund of collecting the contingent deferred sales charge would be outweighed by the cost of applying it.
Contingent deferred sales charge waivers are allowed only in the cases listed here and in the statement of additional information. For example, contingent deferred sales charge waivers will not be allowed on redemptions of Class 529-C shares due to termination of CollegeAmerica; a determination by the Internal Revenue Service that CollegeAmerica does not qualify as a qualified tuition program under the Code; proposal or enactment of law that eliminates or limits the tax-favored status of CollegeAmerica; or elimination of the fund by Commonwealth Savers PlanSM as an option for additional investment within CollegeAmerica.
To have your Class A or C contingent deferred sales charge waived, you must inform your financial professional or American Funds Service Company at the time you redeem shares that you qualify for such a waiver.
Other sales charge waivers Purchases of Class A shares through a self-clearing broker-dealer firm generally incur a sales charge. However, self-clearing broker-dealer firms may extend the 90 day right of reinvestment to allow reinvestment in Class A shares
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without a sales charge in cases where fund shareholders request reinvestment of a required minimum distribution from an Individual Retirement Account if such requirement is waived by regulation or legislation (“waived RMD reinvestment”), provided that the self-clearing broker-dealer firm has specific language in this prospectus to such effect. If a self-clearing firm does not have their own policies listed in the prospectus, waived RMD reinvestments are not available without a sales charge. Firm specific language is located in the appendix to the prospectus. A self-clearing broker-dealer firm is a firm that holds some or all of the assets in your account, executes trades for the assets held on its platform internally rather than through the fund’s transfer agent or a third-party clearing firm and provides account statements and tax reporting to you. The largest broker-dealer firms are typically self-clearing. For all other broker-dealer firms, shares purchased through a waived RMD reinvestment are available at net asset value. For accounts held with the fund’s transfer agent, waived RMD reinvestments in Class A shares are not subject to sales charges.
Purchases of Class 529-A shares through (i) a rollover from another 529 plan or (ii) a recontribution of a refunded qualified education expense are not subject to sales charges.
If you have any questions, ask your financial professional whether Class A or 529-A shares purchased through these policies are available without a sales charge. Recontributions or waived RMD investments distributed from Class 529-C or Class C shares will be reinvested in the same share class from which the distribution was made. In addition, any contingent deferred sales charge paid on Class 529-A/Class A and Class 529-C/Class C share distributions under these policies will be credited to your account when reinvested.
Waivers of all or a portion of the contingent deferred sales charge on Class C and 529-C shares and the sales charge on Class A and 529-A shares will be granted for transactions requested by financial intermediaries as a result of (i) pending or anticipated regulatory matters that require investor accounts to be moved to a different share class or (ii) conversions of IRAs from brokerage to advisory accounts investing in Class F shares in cases where new investments in brokerage IRA accounts have been restricted by the intermediary.
Rollovers from CollegeAmerica to Roth IRAs Proceeds of a CollegeAmerica plan account may be rolled over in a direct trustee-to-trustee transfer to the plan beneficiary’s Capital Bank and Trust Roth IRA and invested in Class A shares without a sales charge, provided that such rollover is intended to satisfy the requirements of the Internal Revenue Code. If you hold CollegeAmerica or Roth IRA accounts through a financial intermediary its policies may differ.
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Rollovers from retirement plans to IRAs Assets from retirement plans may be invested in Class A, C or F shares through an IRA rollover, subject to the other provisions of this prospectus. Class C shares are not available if the assets are being rolled over from investments held in American Funds Recordkeeper Direct and PlanPremier retirement plan recordkeeping programs.
Rollovers to IRAs from retirement plans that are rolled into Class A shares will be subject to applicable sales charges. The following rollovers to Class A shares will be made without a sales charge:
· rollovers to IRAs with Capital Bank and Trust Company as custodian if the assets were invested in any fund managed by the investment adviser or its affiliates at the time of distribution;
· rollovers to IRAs from 403(b) plans with Capital Bank and Trust Company as custodian;
· rollovers to IRAs with Capital Bank and Trust Company as custodian from investments held in American Funds Recordkeeper Direct and PlanPremier retirement plan recordkeeping programs; and
· rollovers to IRAs with Capital Bank and Trust Company as custodian if at the time of distribution the assets were invested in any fund or account with a name that includes American Funds, Capital Group, or the name of a fund managed by the investment adviser or its affiliates and such fund or account was established pursuant to an agreement with the investment adviser or its affiliates.
IRA rollover assets that roll over without a sales charge as described above will not be subject to a contingent deferred sales charge, and investment dealers will be compensated solely with an annual service fee that begins to accrue immediately. All other rollovers invested in Class A shares, as well as future contributions to the IRA, will be subject to sales charges and to the terms and conditions generally applicable to Class A share investments as described in this prospectus and in the statement of additional information.
Purchases by SEP plans and SIMPLE IRA plans Participant accounts in a Simplified Employee Pension (SEP) plan or a Savings Incentive Match Plan for Employees of Small Employers IRA (SIMPLE IRA) will be aggregated at the plan level for Class A sales charge purposes if an employer adopts a prototype plan produced by Capital Client Group, Inc. or (a) the employer or plan sponsor submits all contributions for all participating employees in a single contribution transmittal or the contributions are identified as related to the same plan; (b) each transmittal is accompanied by checks or wire transfers and generally must be submitted through the transfer agent’s automated contribution system if held on the fund’s books; and (c) if the fund is expected to carry separate accounts in the name of each plan participant and (i) the employer or plan sponsor notifies the funds’ transfer agent or the intermediary holding the account that the separate accounts of all plan participants should be linked and (ii) all new participant accounts are established by submitting the appropriate documentation on behalf of each new participant. Participant accounts in a SEP or SIMPLE plan that are eligible to aggregate their assets at the plan level may not also aggregate the assets with their individual accounts.
Purchases by certain 403(b) plans A 403(b) plan may not invest in American Funds Class A or C shares unless such plan was invested in Class A or C shares before January 1, 2009.
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Participant accounts of a 403(b) plan that invested in American Funds Class A or C shares and were treated as an individual-type plan for sales charge purposes before January 1, 2009, may continue to be treated as accounts of an individual-type plan for sales charge purposes. Participant accounts of a 403(b) plan that invested in American Funds Class A or C shares and were treated as an employer-sponsored plan for sales charge purposes before January 1, 2009, may continue to be treated as accounts of an employer-sponsored plan for sales charge purposes. Participant accounts of a 403(b) plan that was established on or after January 1, 2009, are treated as accounts of an employer-sponsored plan for sales charge purposes.
Moving between accounts American Funds investments by certain account types may be moved to other account types without incurring additional Class A sales charges. These transactions include:
· redemption proceeds from a non-retirement account (for example, a joint tenant account) used to purchase fund shares in an IRA or other individual-type retirement account;
· required minimum distributions from an IRA or other individual-type retirement account used to purchase fund shares in a non-retirement account; and
· death distributions paid to a beneficiary’s account that are used by the beneficiary to purchase fund shares in a different account.
These privileges are generally available only if your account is held directly with the fund’s transfer agent or if the financial intermediary holding your account has the systems, policies and procedures to support providing the privileges on its systems. Investors should consult their financial intermediary for further information.
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Plans of distribution The fund has plans of distribution, or “12b-1 plans,” for certain share classes under which it may finance activities intended primarily to sell shares, provided that the categories of expenses are approved in advance by the fund’s board of trustees. The plans provide for payments, based on annualized percentages of average daily net assets, of:
| Up to: | Share class(es) |
| 0.25% | Class A shares |
| 0.50% | Class F-1, 529-A and R-4 shares |
| 0.75% | Class 529-E and R-3 shares |
| 0.85% | Class R-2E shares |
| 1.00% | Class C, 529-C, R-1 and R-2 shares |
For all share classes indicated above, up to .25% may be used to pay service fees to qualified dealers for providing certain shareholder services. The amount remaining for each share class, if any, may be used for distribution expenses.
The 12b-1 fees paid by each applicable share class of the fund, as a percentage of average net assets for the most recent fiscal year, are indicated in the Annual Fund Operating Expenses table under “Fees and expenses of the fund” in this prospectus. Since these fees are paid out of the fund’s assets on an ongoing basis, over time they may cost you more than paying other types of sales charges or service fees and reduce the return on your investment. The higher fees for Class C shares may cost you more over time than paying the initial sales charge for Class A shares.
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Other compensation to dealers Capital Client Group, Inc., at its expense, provides additional compensation to investment dealers. These payments may be made, at the discretion of Capital Client Group, Inc., to no more than the top 60 dealers (or their affiliates) with which it has a substantive distribution relationship involving the sale of American Funds. The amount will typically be determined using a formula applied consistently to dealers based on their assets under management. The level of payments made to a qualifying firm under the formula will not exceed .035% of eligible American Funds assets attributable to that dealer. Eligible assets are all American Funds assets other than Class R shares, Class F-3 shares, Class F shares held in IRAs and shares held in certain retirement accounts. Dealers may direct Capital Client Group, Inc. to exclude additional assets. In addition to the asset-based payment, Capital Client Group, Inc. provides $5 million to certain firms based on their engagement with Capital Client Group, Inc. and the level of American Funds assets under management at each such firm to recognize the commitment each of those firms has made to collaborating with Capital Client Group, Inc. on achieving advisor training and education objectives. In the prior calendar year, Capital Client Group, Inc. paid this amount to the following firms:
| Edward Jones | Morgan Stanley Wealth Management |
| LPL Financial LLC | Raymond James Group |
| Merrill Lynch, Pierce, Fenner & Smith | Wells Fargo Advisors |
Capital Client Group, Inc. compensates the firms to support various efforts, including, among other things, to:
· help defray the costs incurred by qualifying dealers in connection with efforts to educate financial professionals about American Funds so that they can make recommendations and provide services that are suitable and meet shareholder needs;
· help defray the costs associated with the dealer firms’ provision of account related services and activities and support the dealer firms’ distribution activities;
· support meetings, conferences or other training and educational events hosted by the firm, and obtain relevant data regarding financial professional activities to facilitate Capital Client Group, Inc.’s training and education activities; and
· make the American Funds available through firm distribution platforms and related sales infrastructure.
Capital Client Group, Inc. will, on an annual basis, determine the advisability of continuing these payments. Firms receiving additional compensation payments must sign a letter acknowledging the purpose of the payment and generally requiring the firms to (1) perform the due diligence necessary to include American Funds on their platform, (2) not provide financial professionals, branch managers or associated persons with any financial incentives to promote the sales of one approved fund group over another approved group, (3) provide opportunities for their clients to obtain individualized advice, (4) provide Capital Client Group, Inc. broad access to their financial professionals and product platforms and work together on mutual business objectives, and (5) work with the fund’s transfer agent to promote operational efficiencies and to facilitate necessary communication between American Funds and the firm’s clients who own shares of American Funds.
Washington Mutual Investors Fund / Prospectus 44
Separately, Capital Client Group, Inc. makes payments to certain financial intermediaries and other firms for services including:
· making the American Funds available through firm distribution platforms including self-directed platforms for the public as well as clearing, custody and recordkeeping services for other intermediaries and related sales infrastructure;
· account maintenance and support, statement preparation, transaction processing and operational improvements; and
· training, education and marketing opportunities, support for transaction fees, technology costs and data (including fees to obtain information on financial professionals to better tailor training, education and marketing opportunities).
A list of firms anticipated to receive additional compensation (as described above) in an amount exceeding $100,000 based on prior payments is included in the statement of additional information.
Capital Client Group, Inc. pays certain recordkeepers for product services, platform consideration, participation at recordkeeper-sponsored events and co-branding and other marketing services. A list of recordkeepers anticipated to receive additional compensation (as described above) in an amount exceeding $100,000 based on prior payments is included in the statement of additional information.
If investment advisers, distributors or other affiliates of mutual funds pay additional compensation or other incentives to investment dealers in differing amounts, dealer firms and their financial professionals may have financial incentives for recommending a particular mutual fund over other mutual funds or investments, creating a potential conflict of interest. You should consult with your financial professional and review carefully any disclosure by your financial professional’s firm as to compensation received.
45 Washington Mutual Investors Fund / Prospectus
Fund expenses Note that, unless otherwise stated, references to Class A, C and F shares in this “Fund expenses” section do not include the corresponding Class 529 shares.
In periods of market volatility, assets of the fund may decline significantly, causing total annual fund operating expenses (as a percentage of the value of your investment) to become higher than the numbers shown in the Annual Fund Operating Expenses table under “Fees and expenses of the fund” in this prospectus.
For all share classes, “Other expenses” items in the Annual Fund Operating Expenses table in this prospectus include fees for administrative services provided by the fund’s investment adviser and its affiliates. Administrative services are provided by the investment adviser and its affiliates to help assist third parties providing non-distribution services to fund shareholders. These services include providing in-depth information on the fund and market developments that impact fund investments. Administrative services also include, but are not limited to, coordinating, monitoring and overseeing third parties that provide services to fund shareholders. The Administrative Services Agreement between the fund and the investment adviser provides the fund the ability to charge an administrative services fee of .05% for all share classes. The fund’s investment adviser receives an administrative services fee at the annual rate of .03% of the average daily net assets of the fund attributable to Class A, C, F, R and 529 shares (which could be increased as noted above) for its provision of administrative services.
The “Other expenses” items in the Annual Fund Operating Expenses table also include custodial, legal and transfer agent (and, if applicable, subtransfer agent/recordkeeping) payments and various other expenses applicable to all share classes.
Washington Mutual Investors Fund / Prospectus 46
Subtransfer agency and recordkeeping fees Subtransfer agent/recordkeeping payments may be made to third parties (including affiliates of the fund’s investment adviser) that provide subtransfer agent, recordkeeping and/or shareholder services with respect to certain shareholder accounts in lieu of the transfer agent providing such services. The amount paid for subtransfer agent/recordkeeping services varies depending on the share class and services provided, and typically ranges from $3 to $18 per account. Although Class F-3 and Class 529-F-3 shares are not subject to any subtransfer agency or recordkeeping fees, Class F-1, F-2 and 529-F-2 shares are subject to subtransfer agency fees of up to .12% of fund assets.
For employer-sponsored retirement plans, the amount paid for subtransfer agent/ recordkeeping services varies depending on the share class selected. The table below shows the maximum payments to entities providing these services to retirement plans.
| Payments | |
| Class A | 0.05%
of assets or $12 per participant position* |
| Class R-1 | 0.10% of assets |
| Class R-2 | 0.35% of assets |
| Class R-2E | 0.20% of assets |
| Class R-3 | 0.15% of assets |
| Class R-4 | 0.10% of assets |
| Class R-5E | 0.15% of assets |
| Class R-5 | 0.05% of assets |
| Class R-6 | none |
* Payment amount depends on the date services commenced.
Fee to Commonwealth Savers Plan For Class 529 shares, an expense of up to a maximum of .09% paid to a state or states for oversight and administrative services is included as an “Other expenses” item.
47 Washington Mutual Investors Fund / Prospectus
Financial highlights The Financial Highlights table is intended to help you understand the fund’s results for the past five fiscal years (or, if shorter, the period of operations). Certain information reflects financial results for a single share of a particular class. The total returns in the table represent the rate that an investor would have earned or lost on an investment in the fund (assuming reinvestment of all dividends and capital gain distributions). The information in the Financial Highlights table for the fiscal year ended April 30, 2026, has been audited by Deloitte & Touche LLP, whose current report, along with the fund’s financial statements, is included in the statement of additional information, which is available upon request. The information in the Financial Highlights table for each of the prior fiscal years has been audited by a different auditor.
| Income
(loss) from investment operations1 |
Dividends and distributions | |||||||||||||||||||||||
| Year ended | Net
asset value, beginning of year |
Net investment income (loss) |
Net
gains (losses) on securities (both realized and unrealized) |
Total
from investment operations |
Dividends (from net investment income) |
Distributions (from capital gains) |
Total dividends and distributions |
Net
asset value, end of year |
Total return2 |
Net
assets, end of year (in millions) |
Ratio
of expenses to average net assets3 |
Ratio
of net income (loss) to average net assets | ||||||||||||
| Class A: | ||||||||||||||||||||||||
| 4/30/2026 | $60.88 | $.88 | $12.28 | $13.16 | $(.89 | ) | $(5.69 | ) | $(6.58 | ) | $67.46 | 22.59 | % | $96,345 | .55 | % | 1.34 | % | ||||||
| 4/30/2025 | 59.84 | .92 | 6.32 | 7.24 | (.87 | ) | (5.33 | ) | (6.20 | ) | 60.88 | 12.46 | 84,919 | .56 | 1.46 | |||||||||
| 4/30/2024 | 53.38 | .95 | 9.02 | 9.97 | (.96 | ) | (2.55 | ) | (3.51 | ) | 59.84 | 19.36 | 80,801 | .57 | 1.69 | |||||||||
| 4/30/2023 | 55.52 | 1.00 | .15 | 1.15 | (1.02 | ) | (2.27 | ) | (3.29 | ) | 53.38 | 2.45 | 71,892 | .57 | 1.91 | |||||||||
| 4/30/2022 | 56.35 | .92 | 1.91 | 2.83 | (.85 | ) | (2.81 | ) | (3.66 | ) | 55.52 | 4.98 | 72,922 | .57 | 1.59 | |||||||||
| Class C: | ||||||||||||||||||||||||
| 4/30/2026 | 59.67 | .38 | 12.03 | 12.41 | (.40 | ) | (5.69 | ) | (6.09 | ) | 65.99 | 21.69 | 1,360 | 1.31 | .59 | |||||||||
| 4/30/2025 | 58.75 | .44 | 6.21 | 6.65 | (.40 | ) | (5.33 | ) | (5.73 | ) | 59.67 | 11.63 | 1,289 | 1.31 | .71 | |||||||||
| 4/30/2024 | 52.48 | .52 | 8.84 | 9.36 | (.54 | ) | (2.55 | ) | (3.09 | ) | 58.75 | 18.43 | 1,340 | 1.32 | .94 | |||||||||
| 4/30/2023 | 54.62 | .60 | .15 | .75 | (.62 | ) | (2.27 | ) | (2.89 | ) | 52.48 | 1.71 | 1,319 | 1.32 | 1.16 | |||||||||
| 4/30/2022 | 55.48 | .48 | 1.89 | 2.37 | (.42 | ) | (2.81 | ) | (3.23 | ) | 54.62 | 4.20 | 1,452 | 1.32 | .84 | |||||||||
| Class T: | ||||||||||||||||||||||||
| 4/30/2026 | 60.87 | 1.04 | 12.27 | 13.31 | (1.05 | ) | (5.69 | ) | (6.74 | ) | 67.44 | 22.88 | 4 | — | 5 | .30 | 4 | 1.59 | 4 | |||||
| 4/30/2025 | 59.82 | 1.07 | 6.33 | 7.40 | (1.02 | ) | (5.33 | ) | (6.35 | ) | 60.87 | 12.78 | 4 | — | 5 | .31 | 4 | 1.71 | 4 | |||||
| 4/30/2024 | 53.38 | 1.09 | 9.00 | 10.09 | (1.10 | ) | (2.55 | ) | (3.65 | ) | 59.82 | 19.62 | 4 | — | 5 | .32 | 4 | 1.94 | 4 | |||||
| 4/30/2023 | 55.51 | 1.14 | .15 | 1.29 | (1.15 | ) | (2.27 | ) | (3.42 | ) | 53.38 | 2.75 | 4 | — | 5 | .30 | 4 | 2.17 | 4 | |||||
| 4/30/2022 | 56.34 | 1.06 | 1.92 | 2.98 | (1.00 | ) | (2.81 | ) | (3.81 | ) | 55.51 | 5.25 | 4 | — | 5 | .32 | 4 | 1.84 | 4 | |||||
| Washington Mutual Investors Fund / Prospectus 48 |
| Income
(loss) from investment operations1 |
Dividends and distributions | |||||||||||||||||||||||
| Year ended | Net
asset value, beginning of year |
Net investment income (loss) |
Net
gains (losses) on securities (both realized and unrealized) |
Total
from investment operations |
Dividends (from net investment income) |
Distributions (from capital gains) |
Total dividends and distributions |
Net
asset value, end of year |
Total return2 |
Net
assets, end of year (in millions) |
Ratio
of expenses to average net assets3 |
Ratio
of net income (loss) to average net assets | ||||||||||||
| Class F-1: | ||||||||||||||||||||||||
| 4/30/2026 | $60.54 | $.83 | $12.19 | $13.02 | $(.84 | ) | $(5.69 | ) | $(6.53 | ) | $67.03 | 22.50 | % | $2,528 | .62 | % | 1.27 | % | ||||||
| 4/30/2025 | 59.53 | .87 | 6.29 | 7.16 | (.82 | ) | (5.33 | ) | (6.15 | ) | 60.54 | 12.40 | 2,200 | .62 | 1.40 | |||||||||
| 4/30/2024 | 53.12 | .91 | 8.97 | 9.88 | (.92 | ) | (2.55 | ) | (3.47 | ) | 59.53 | 19.28 | 2,126 | .63 | 1.64 | |||||||||
| 4/30/2023 | 55.26 | .97 | .15 | 1.12 | (.99 | ) | (2.27 | ) | (3.26 | ) | 53.12 | 2.40 | 2,092 | .63 | 1.85 | |||||||||
| 4/30/2022 | 56.10 | .88 | 1.90 | 2.78 | (.81 | ) | (2.81 | ) | (3.62 | ) | 55.26 | 4.91 | 2,216 | .63 | 1.52 | |||||||||
| Class F-2: | ||||||||||||||||||||||||
| 4/30/2026 | 60.79 | 1.00 | 12.25 | 13.25 | (1.00 | ) | (5.69 | ) | (6.69 | ) | 67.35 | 22.81 | 40,596 | .37 | 1.52 | |||||||||
| 4/30/2025 | 59.76 | 1.03 | 6.32 | 7.35 | (.99 | ) | (5.33 | ) | (6.32 | ) | 60.79 | 12.69 | 33,849 | .37 | 1.65 | |||||||||
| 4/30/2024 | 53.32 | 1.06 | 9.00 | 10.06 | (1.07 | ) | (2.55 | ) | (3.62 | ) | 59.76 | 19.57 | 32,142 | .37 | 1.89 | |||||||||
| 4/30/2023 | 55.46 | 1.10 | .15 | 1.25 | (1.12 | ) | (2.27 | ) | (3.39 | ) | 53.32 | 2.67 | 27,795 | .37 | 2.10 | |||||||||
| 4/30/2022 | 56.29 | 1.03 | 1.92 | 2.95 | (.97 | ) | (2.81 | ) | (3.78 | ) | 55.46 | 5.18 | 28,561 | .37 | 1.78 | |||||||||
| Class F-3: | ||||||||||||||||||||||||
| 4/30/2026 | 60.84 | 1.07 | 12.27 | 13.34 | (1.08 | ) | (5.69 | ) | (6.77 | ) | 67.41 | 22.95 | 14,533 | .26 | 1.64 | |||||||||
| 4/30/2025 | 59.80 | 1.10 | 6.32 | 7.42 | (1.05 | ) | (5.33 | ) | (6.38 | ) | 60.84 | 12.81 | 11,394 | .26 | 1.76 | |||||||||
| 4/30/2024 | 53.35 | 1.12 | 9.01 | 10.13 | (1.13 | ) | (2.55 | ) | (3.68 | ) | 59.80 | 19.71 | 9,767 | .26 | 2.00 | |||||||||
| 4/30/2023 | 55.49 | 1.16 | .15 | 1.31 | (1.18 | ) | (2.27 | ) | (3.45 | ) | 53.35 | 2.77 | 8,172 | .26 | 2.21 | |||||||||
| 4/30/2022 | 56.32 | 1.09 | 1.92 | 3.01 | (1.03 | ) | (2.81 | ) | (3.84 | ) | 55.49 | 5.30 | 7,842 | .26 | 1.89 | |||||||||
| Class 529-A: | ||||||||||||||||||||||||
| 4/30/2026 | 60.67 | .86 | 12.22 | 13.08 | (.86 | ) | (5.69 | ) | (6.55 | ) | 67.20 | 22.54 | 3,885 | .59 | 1.31 | |||||||||
| 4/30/2025 | 59.64 | .89 | 6.31 | 7.20 | (.84 | ) | (5.33 | ) | (6.17 | ) | 60.67 | 12.45 | 3,413 | .59 | 1.43 | |||||||||
| 4/30/2024 | 53.22 | .93 | 8.98 | 9.91 | (.94 | ) | (2.55 | ) | (3.49 | ) | 59.64 | 19.29 | 3,240 | .61 | 1.66 | |||||||||
| 4/30/2023 | 55.36 | .98 | .15 | 1.13 | (1.00 | ) | (2.27 | ) | (3.27 | ) | 53.22 | 2.42 | 2,923 | .61 | 1.87 | |||||||||
| 4/30/2022 | 56.20 | .89 | 1.91 | 2.80 | (.83 | ) | (2.81 | ) | (3.64 | ) | 55.36 | 4.94 | 2,952 | .60 | 1.55 | |||||||||
| Class 529-C: | ||||||||||||||||||||||||
| 4/30/2026 | 60.22 | .35 | 12.14 | 12.49 | (.36 | ) | (5.69 | ) | (6.05 | ) | 66.66 | 21.59 | 73 | 1.36 | .54 | |||||||||
| 4/30/2025 | 59.22 | .42 | 6.27 | 6.69 | (.36 | ) | (5.33 | ) | (5.69 | ) | 60.22 | 11.61 | 68 | 1.35 | .67 | |||||||||
| 4/30/2024 | 52.87 | .50 | 8.90 | 9.40 | (.50 | ) | (2.55 | ) | (3.05 | ) | 59.22 | 18.37 | 77 | 1.37 | .90 | |||||||||
| 4/30/2023 | 54.99 | .57 | .16 | .73 | (.58 | ) | (2.27 | ) | (2.85 | ) | 52.87 | 1.64 | 83 | 1.38 | 1.10 | |||||||||
| 4/30/2022 | 55.84 | .45 | 1.90 | 2.35 | (.39 | ) | (2.81 | ) | (3.20 | ) | 54.99 | 4.14 | 93 | 1.36 | .79 | |||||||||
| 49 Washington Mutual Investors Fund / Prospectus |
| Income
(loss) from investment operations1 |
Dividends and distributions | |||||||||||||||||||||||
| Year ended | Net
asset value, beginning of year |
Net investment income (loss) |
Net
gains (losses) on securities (both realized and unrealized) |
Total
from investment operations |
Dividends (from net investment income) |
Distributions (from capital gains) |
Total dividends and distributions |
Net
asset value, end of year |
Total return2 |
Net
assets, end of year (in millions) |
Ratio
of expenses to average net assets3 |
Ratio
of net income (loss) to average net assets | ||||||||||||
| Class 529-E: | ||||||||||||||||||||||||
| 4/30/2026 | $60.13 | $.69 | $12.11 | $12.80 | $(.70 | ) | $(5.69 | ) | $(6.39 | ) | $66.54 | 22.25 | % | $117 | .84 | % | 1.06 | % | ||||||
| 4/30/2025 | 59.16 | .73 | 6.26 | 6.99 | (.69 | ) | (5.33 | ) | (6.02 | ) | 60.13 | 12.17 | 105 | .83 | 1.19 | |||||||||
| 4/30/2024 | 52.82 | .78 | 8.91 | 9.69 | (.80 | ) | (2.55 | ) | (3.35 | ) | 59.16 | 19.01 | 105 | .85 | 1.41 | |||||||||
| 4/30/2023 | 54.96 | .84 | .16 | 1.00 | (.87 | ) | (2.27 | ) | (3.14 | ) | 52.82 | 2.17 | 98 | .85 | 1.62 | |||||||||
| 4/30/2022 | 55.82 | .75 | 1.89 | 2.64 | (.69 | ) | (2.81 | ) | (3.50 | ) | 54.96 | 4.69 | 103 | .85 | 1.31 | |||||||||
| Class 529-T: | ||||||||||||||||||||||||
| 4/30/2026 | 60.87 | 1.01 | 12.28 | 13.29 | (1.02 | ) | (5.69 | ) | (6.71 | ) | 67.45 | 22.84 | 4 | — | 5 | .35 | 4 | 1.55 | 4 | |||||
| 4/30/2025 | 59.83 | 1.04 | 6.32 | 7.36 | (.99 | ) | (5.33 | ) | (6.32 | ) | 60.87 | 12.68 | 4 | — | 5 | .36 | 4 | 1.66 | 4 | |||||
| 4/30/2024 | 53.38 | 1.06 | 9.01 | 10.07 | (1.07 | ) | (2.55 | ) | (3.62 | ) | 59.83 | 19.56 | 4 | — | 5 | .37 | 4 | 1.88 | 4 | |||||
| 4/30/2023 | 55.51 | 1.11 | .16 | 1.27 | (1.13 | ) | (2.27 | ) | (3.40 | ) | 53.38 | 2.69 | 4 | — | 5 | .36 | 4 | 2.11 | 4 | |||||
| 4/30/2022 | 56.34 | 1.03 | 1.91 | 2.94 | (.96 | ) | (2.81 | ) | (3.77 | ) | 55.51 | 5.18 | 4 | — | 5 | .38 | 4 | 1.77 | 4 | |||||
| Class 529-F-1: | ||||||||||||||||||||||||
| 4/30/2026 | 60.39 | .95 | 12.18 | 13.13 | (.97 | ) | (5.69 | ) | (6.66 | ) | 66.86 | 22.73 | 4 | — | 5 | .43 | 4 | 1.47 | 4 | |||||
| 4/30/2025 | 59.40 | .98 | 6.28 | 7.26 | (.94 | ) | (5.33 | ) | (6.27 | ) | 60.39 | 12.62 | 4 | — | 5 | .44 | 4 | 1.58 | 4 | |||||
| 4/30/2024 | 53.02 | 1.02 | 8.94 | 9.96 | (1.03 | ) | (2.55 | ) | (3.58 | ) | 59.40 | 19.49 | 4 | — | 5 | .43 | 4 | 1.83 | 4 | |||||
| 4/30/2023 | 55.17 | 1.06 | .15 | 1.21 | (1.09 | ) | (2.27 | ) | (3.36 | ) | 53.02 | 2.59 | 4 | — | 5 | .44 | 4 | 2.03 | 4 | |||||
| 4/30/2022 | 56.01 | .99 | 1.90 | 2.89 | (.92 | ) | (2.81 | ) | (3.73 | ) | 55.17 | 5.13 | 4 | — | 5 | .43 | 4 | 1.72 | 4 | |||||
| Class 529-F-2: | ||||||||||||||||||||||||
| 4/30/2026 | 60.87 | 1.02 | 12.26 | 13.28 | (1.02 | ) | (5.69 | ) | (6.71 | ) | 67.44 | 22.85 | 554 | .35 | 1.55 | |||||||||
| 4/30/2025 | 59.83 | 1.05 | 6.32 | 7.37 | (1.00 | ) | (5.33 | ) | (6.33 | ) | 60.87 | 12.71 | 456 | .35 | 1.67 | |||||||||
| 4/30/2024 | 53.38 | 1.07 | 9.01 | 10.08 | (1.08 | ) | (2.55 | ) | (3.63 | ) | 59.83 | 19.59 | 395 | .36 | 1.90 | |||||||||
| 4/30/2023 | 55.52 | 1.11 | .15 | 1.26 | (1.13 | ) | (2.27 | ) | (3.40 | ) | 53.38 | 2.71 | 327 | .34 | 2.13 | |||||||||
| 4/30/2022 | 56.34 | 1.04 | 1.92 | 2.96 | (.97 | ) | (2.81 | ) | (3.78 | ) | 55.52 | 5.19 | 303 | .36 | 1.79 | |||||||||
| Class 529-F-3: | ||||||||||||||||||||||||
| 4/30/2026 | 60.87 | 1.04 | 12.26 | 13.30 | (1.04 | ) | (5.69 | ) | (6.73 | ) | 67.44 | 22.86 | — | 5 | .31 | 1.59 | ||||||||
| 4/30/2025 | 59.82 | 1.07 | 6.33 | 7.40 | (1.02 | ) | (5.33 | ) | (6.35 | ) | 60.87 | 12.76 | — | 5 | .31 | 1.70 | ||||||||
| 4/30/2024 | 53.37 | .95 | 9.15 | 10.10 | (1.10 | ) | (2.55 | ) | (3.65 | ) | 59.82 | 19.63 | — | 5 | .32 | 1.66 | ||||||||
| 4/30/2023 | 55.51 | 1.13 | .15 | 1.28 | (1.15 | ) | (2.27 | ) | (3.42 | ) | 53.37 | 2.72 | — | 5 | .32 | 2.15 | ||||||||
| 4/30/2022 | 56.34 | 1.06 | 1.92 | 2.98 | (1.00 | ) | (2.81 | ) | (3.81 | ) | 55.51 | 5.25 | — | 5 | .32 | 1.84 | ||||||||
| Washington Mutual Investors Fund / Prospectus 50 |
| Income
(loss) from investment operations1 |
Dividends and distributions | |||||||||||||||||||||||
| Year ended | Net
asset value, beginning of year |
Net investment income (loss) |
Net
gains (losses) on securities (both realized and unrealized) |
Total
from investment operations |
Dividends (from net investment income) |
Distributions (from capital gains) |
Total dividends and distributions |
Net
asset value, end of year |
Total return2 |
Net
assets, end of year (in millions) |
Ratio
of expenses to average net assets3 |
Ratio
of net income (loss) to average net assets | ||||||||||||
| Class R-1: | ||||||||||||||||||||||||
| 4/30/2026 | $59.91 | $.35 | $12.07 | $12.42 | $(.37 | ) | $(5.69 | ) | $(6.06 | ) | $66.27 | 21.62 | % | $67 | 1.35 | % | .54 | % | ||||||
| 4/30/2025 | 58.96 | .42 | 6.24 | 6.66 | (.38 | ) | (5.33 | ) | (5.71 | ) | 59.91 | 11.59 | 62 | 1.34 | .68 | |||||||||
| 4/30/2024 | 52.66 | .51 | 8.87 | 9.38 | (.53 | ) | (2.55 | ) | (3.08 | ) | 58.96 | 18.40 | 63 | 1.35 | .91 | |||||||||
| 4/30/2023 | 54.79 | .59 | .16 | .75 | (.61 | ) | (2.27 | ) | (2.88 | ) | 52.66 | 1.68 | 61 | 1.34 | 1.14 | |||||||||
| 4/30/2022 | 55.64 | .46 | 1.90 | 2.36 | (.40 | ) | (2.81 | ) | (3.21 | ) | 54.79 | 4.18 | 68 | 1.35 | .80 | |||||||||
| Class R-2: | ||||||||||||||||||||||||
| 4/30/2026 | 59.50 | .35 | 11.99 | 12.34 | (.38 | ) | (5.69 | ) | (6.07 | ) | 65.77 | 21.62 | 789 | 1.35 | .55 | |||||||||
| 4/30/2025 | 58.60 | .41 | 6.20 | 6.61 | (.38 | ) | (5.33 | ) | (5.71 | ) | 59.50 | 11.59 | 731 | 1.35 | .67 | |||||||||
| 4/30/2024 | 52.36 | .50 | 8.82 | 9.32 | (.53 | ) | (2.55 | ) | (3.08 | ) | 58.60 | 18.40 | 736 | 1.35 | .91 | |||||||||
| 4/30/2023 | 54.51 | .58 | .15 | .73 | (.61 | ) | (2.27 | ) | (2.88 | ) | 52.36 | 1.67 | 675 | 1.36 | 1.12 | |||||||||
| 4/30/2022 | 55.38 | .45 | 1.89 | 2.34 | (.40 | ) | (2.81 | ) | (3.21 | ) | 54.51 | 4.15 | 701 | 1.35 | .80 | |||||||||
| Class R-2E: | ||||||||||||||||||||||||
| 4/30/2026 | 60.45 | .54 | 12.19 | 12.73 | (.56 | ) | (5.69 | ) | (6.25 | ) | 66.93 | 21.96 | 130 | 1.06 | .83 | |||||||||
| 4/30/2025 | 59.44 | .60 | 6.29 | 6.89 | (.55 | ) | (5.33 | ) | (5.88 | ) | 60.45 | 11.93 | 119 | 1.06 | .96 | |||||||||
| 4/30/2024 | 53.06 | .67 | 8.95 | 9.62 | (.69 | ) | (2.55 | ) | (3.24 | ) | 59.44 | 18.74 | 110 | 1.06 | 1.20 | |||||||||
| 4/30/2023 | 55.19 | .74 | .16 | .90 | (.76 | ) | (2.27 | ) | (3.03 | ) | 53.06 | 1.97 | 98 | 1.06 | 1.41 | |||||||||
| 4/30/2022 | 56.03 | .63 | 1.90 | 2.53 | (.56 | ) | (2.81 | ) | (3.37 | ) | 55.19 | 4.47 | 95 | 1.06 | 1.09 | |||||||||
| Class R-3: | ||||||||||||||||||||||||
| 4/30/2026 | 60.08 | .64 | 12.11 | 12.75 | (.66 | ) | (5.69 | ) | (6.35 | ) | 66.48 | 22.14 | 1,761 | .91 | .99 | |||||||||
| 4/30/2025 | 59.12 | .69 | 6.25 | 6.94 | (.65 | ) | (5.33 | ) | (5.98 | ) | 60.08 | 12.09 | 1,640 | .91 | 1.11 | |||||||||
| 4/30/2024 | 52.79 | .75 | 8.90 | 9.65 | (.77 | ) | (2.55 | ) | (3.32 | ) | 59.12 | 18.93 | 1,642 | .91 | 1.35 | |||||||||
| 4/30/2023 | 54.93 | .81 | .15 | .96 | (.83 | ) | (2.27 | ) | (3.10 | ) | 52.79 | 2.11 | 1,510 | .91 | 1.56 | |||||||||
| 4/30/2022 | 55.78 | .71 | 1.90 | 2.61 | (.65 | ) | (2.81 | ) | (3.46 | ) | 54.93 | 4.64 | 1,663 | .91 | 1.24 | |||||||||
| Class R-4: | ||||||||||||||||||||||||
| 4/30/2026 | 60.38 | .84 | 12.17 | 13.01 | (.85 | ) | (5.69 | ) | (6.54 | ) | 66.85 | 22.52 | 2,578 | .61 | 1.29 | |||||||||
| 4/30/2025 | 59.39 | .88 | 6.27 | 7.15 | (.83 | ) | (5.33 | ) | (6.16 | ) | 60.38 | 12.42 | 2,431 | .61 | 1.41 | |||||||||
| 4/30/2024 | 53.01 | .92 | 8.95 | 9.87 | (.94 | ) | (2.55 | ) | (3.49 | ) | 59.39 | 19.29 | 2,526 | .61 | 1.66 | |||||||||
| 4/30/2023 | 55.15 | .97 | .15 | 1.12 | (.99 | ) | (2.27 | ) | (3.26 | ) | 53.01 | 2.42 | 2,468 | .61 | 1.87 | |||||||||
| 4/30/2022 | 55.99 | .89 | 1.90 | 2.79 | (.82 | ) | (2.81 | ) | (3.63 | ) | 55.15 | 4.94 | 2,738 | .61 | 1.54 | |||||||||
| 51 Washington Mutual Investors Fund / Prospectus |
| Income
(loss) from investment operations1 |
Dividends and distributions | |||||||||||||||||||||||
| Year ended | Net
asset value, beginning of year |
Net investment income (loss) |
Net
gains (losses) on securities (both realized and unrealized) |
Total
from investment operations |
Dividends (from net investment income) |
Distributions (from capital gains) |
Total dividends and distributions |
Net
asset value, end of year |
Total return2 |
Net
assets, end of year (in millions) |
Ratio
of expenses to average net assets3 |
Ratio
of net income (loss) to average net assets | ||||||||||||
| Class R-5E: | ||||||||||||||||||||||||
| 4/30/2026 | $60.73 | $.97 | $12.24 | $13.21 | $(.98 | ) | $(5.69 | ) | $(6.67 | ) | $67.27 | 22.74 | % | $597 | .41 | % | 1.49 | % | ||||||
| 4/30/2025 | 59.70 | 1.00 | 6.32 | 7.32 | (.96 | ) | (5.33 | ) | (6.29 | ) | 60.73 | 12.65 | 515 | .41 | 1.61 | |||||||||
| 4/30/2024 | 53.27 | 1.04 | 8.99 | 10.03 | (1.05 | ) | (2.55 | ) | (3.60 | ) | 59.70 | 19.52 | 482 | .41 | 1.86 | |||||||||
| 4/30/2023 | 55.41 | 1.08 | .15 | 1.23 | (1.10 | ) | (2.27 | ) | (3.37 | ) | 53.27 | 2.61 | 508 | .41 | 2.06 | |||||||||
| 4/30/2022 | 56.25 | 1.00 | 1.91 | 2.91 | (.94 | ) | (2.81 | ) | (3.75 | ) | 55.41 | 5.14 | 485 | .41 | 1.74 | |||||||||
| Class R-5: | ||||||||||||||||||||||||
| 4/30/2026 | 60.84 | 1.04 | 12.26 | 13.30 | (1.04 | ) | (5.69 | ) | (6.73 | ) | 67.41 | 22.88 | 636 | .31 | 1.59 | |||||||||
| 4/30/2025 | 59.80 | 1.07 | 6.32 | 7.39 | (1.02 | ) | (5.33 | ) | (6.35 | ) | 60.84 | 12.75 | 616 | .31 | 1.71 | |||||||||
| 4/30/2024 | 53.36 | 1.09 | 9.00 | 10.09 | (1.10 | ) | (2.55 | ) | (3.65 | ) | 59.80 | 19.62 | 648 | .31 | 1.95 | |||||||||
| 4/30/2023 | 55.49 | 1.14 | .15 | 1.29 | (1.15 | ) | (2.27 | ) | (3.42 | ) | 53.36 | 2.73 | 676 | .31 | 2.17 | |||||||||
| 4/30/2022 | 56.32 | 1.06 | 1.92 | 2.98 | (1.00 | ) | (2.81 | ) | (3.81 | ) | 55.49 | 5.25 | 815 | .31 | 1.84 | |||||||||
| Class R-6: | ||||||||||||||||||||||||
| 4/30/2026 | 60.92 | 1.07 | 12.29 | 13.36 | (1.08 | ) | (5.69 | ) | (6.77 | ) | 67.51 | 22.95 | 47,908 | .26 | 1.63 | |||||||||
| 4/30/2025 | 59.87 | 1.10 | 6.33 | 7.43 | (1.05 | ) | (5.33 | ) | (6.38 | ) | 60.92 | 12.82 | 40,059 | .26 | 1.76 | |||||||||
| 4/30/2024 | 53.41 | 1.12 | 9.02 | 10.14 | (1.13 | ) | (2.55 | ) | (3.68 | ) | 59.87 | 19.70 | 37,736 | .26 | 2.00 | |||||||||
| 4/30/2023 | 55.55 | 1.16 | .15 | 1.31 | (1.18 | ) | (2.27 | ) | (3.45 | ) | 53.41 | 2.76 | 32,937 | .26 | 2.21 | |||||||||
| 4/30/2022 | 56.38 | 1.09 | 1.92 | 3.01 | (1.03 | ) | (2.81 | ) | (3.84 | ) | 55.55 | 5.30 | 32,755 | .26 | 1.89 | |||||||||
| Washington Mutual Investors Fund / Prospectus 52 |
| Year ended April 30, | |||||
| 20267 | 2025 | 2024 | 2023 | 2022 | |
| Portfolio turnover rate for all share classes6 | 32% | 29% | 31% | 30% | 19% |
1 Based on average shares outstanding.
2 Total returns exclude any applicable sales charges, including contingent deferred sales charges.
3 Ratios do not include expenses of any Central Funds. The fund indirectly bears its proportionate share of the expenses of any Central Funds.
4 All or a significant portion of assets in this class consisted of seed capital invested by Capital Research and Management Company and/or its affiliates. Fees for distribution services are not charged or accrued on these seed capital assets. If such fees were paid by the fund on seed capital assets, fund expenses would have been higher and net income and total return would have been lower.
5 Amount less than $1 million.
6 Rates do not include the fund’s portfolio activity with respect to any Central Funds.
7 Rates exclude in-kind transactions, if any.
| 53 Washington Mutual Investors Fund / Prospectus |
Appendix
Sales charge waivers
The availability of certain sales charge waivers and discounts will depend on whether you purchase your shares directly from the fund or through a financial intermediary. Intermediaries may have different policies and procedures regarding the availability of front-end sales charge waivers or contingent deferred (back-end) sales charge (“CDSC”) waivers, which are discussed below. In all instances, it is the purchaser’s responsibility to notify the fund or the purchaser’s financial intermediary at the time of purchase of any relationship or other facts qualifying the purchaser for sales charge waivers or discounts. Please contact the applicable intermediary with any questions regarding how the intermediary applies the policies described below and to ensure that you understand what steps you must take to qualify for any available waivers or discounts. For waivers and discounts not available through a particular intermediary, shareholders will have to purchase fund shares directly from the fund or through another intermediary to receive these waivers or discounts. If you change intermediaries after you purchase fund shares, the policies and procedures of the new service provider (either your new intermediary or the fund’s transfer agent) will apply to your account. Those policies may be more or less favorable than those offered by the intermediary through which you purchased your fund shares. You should review any policy differences before changing intermediaries.
Front-end sales charge reductions on Class A shares purchased through Ameriprise Financial
Shareholders purchasing Class A shares of the fund through an Ameriprise Financial platform or account are eligible only for the following sales charge reductions, which may differ from those disclosed elsewhere in this prospectus or the SAI. Such shareholders can reduce their initial sales charge on the purchase of Class A shares as follows:
· Transaction size breakpoints, as described in this prospectus or the SAI
· Rights of accumulation (ROA), as described in this prospectus or the SAI
· Letter of intent, as described in this prospectus or the SAI
Front-end sales charge waivers on Class A shares purchased through Ameriprise Financial
Shareholders purchasing Class A shares of the fund through an Ameriprise Financial platform or account are eligible only for the following sales charge waivers, which may differ from those disclosed elsewhere in this prospectus or the SAI. Such shareholders may purchase Class A shares at NAV without payment of a sales charge as follows:
· Shares purchased by employer-sponsored retirement plans established prior to April 1, 2004 and that continue to meet the eligibility requirements in effect as of that date for purchasing Class A shares at net asset value (e.g., 401(k) plans, 457 plans, employer- sponsored 403(b) plans, profit sharing and money purchase pension plans and defined benefit plans). For purposes of this provision, employer-sponsored retirement plans do not include SEP IRAs, SIMPLE IRAs or SARSEPs
· Shares purchased through reinvestment of capital gains and dividend reinvestment when purchasing shares of the same fund (but not any other fund within the same fund family)
· Shares exchanged from Class C shares of the same fund in the month of or following the seven-year anniversary of the purchase date. To the extent that this prospectus
Washington Mutual Investors Fund / Prospectus 54
elsewhere provides for a waiver with respect to such shares following a shorter holding period, that waiver will apply to exchanges following such shorter period. To the extent that this prospectus elsewhere provides for a waiver with respect to exchanges of Class C shares for load waived shares, that waiver will also apply to such exchanges
· Shares purchased by employees and registered representatives of Ameriprise Financial or its affiliates and their immediate family members
· Shares purchased by or through qualified accounts (including IRAs, Coverdell Education Savings Accounts, 401(k)s, 403(b) TSCAs subject to ERISA and defined benefit plans) that are held by a covered family member, defined as an Ameriprise Financial advisor and/or the advisor’s spouse, advisor’s lineal ascendant (mother, father, grandmother, grandfather, great grandmother, great grandfather), advisor’s lineal descendant (son, step-son, daughter, step-daughter, grandson, granddaughter, great grandson, great granddaughter) or any spouse of a covered family member who is a lineal descendant
· Shares purchased from the proceeds of redemptions within the same fund family, provided (1) the repurchase occurs within 90 days following the redemption, (2) the redemption and purchase occur in the same account, and (3) redeemed shares were subject to a front-end or deferred sales load (i.e., Rights of Reinstatement)
· Purchases of Class 529-A shares through a rollover from another 529 plan
· Purchases of Class 529 shares made for recontribution of refunded amounts
CDSC waivers on Class A and C shares purchased through Ameriprise Financial
Fund shares purchased through an Ameriprise Financial platform or account are eligible only for the following CDSC waivers, which may differ from those disclosed elsewhere in this prospectus or the SAI:
· Redemptions due to death or disability of the shareholder
· Shares sold as part of a systematic withdrawal plan as described in this prospectus or the SAI
· Redemptions made in connection with a return of excess contributions from an IRA account
· Shares purchased through a Right of Reinstatement (as defined above)
· Redemptions made as part of a required minimum distribution for IRA and retirement accounts pursuant to the Internal Revenue Code
D.A. Davidson & Co. (“D.A. Davidson”)
Front-end sales charge waivers on Class A shares available at D.A. Davidson (effective January 1, 2020)
· Shares purchased within the same fund family through a systematic reinvestment of capital gains and dividend distributions
· Employees and registered representatives of D.A. Davidson or its affiliates and their family members as designated by D.A. Davidson
· Shares purchased from the proceeds of redemptions within the same fund family, provided (1) the repurchase occurs within 90 days following the redemption, (2) the redemption and purchase occur in the same account, and (3) redeemed shares were subject to a front-end or deferred sales charge (known as Rights of Reinstatement)
55 Washington Mutual Investors Fund / Prospectus
· A shareholder in the fund’s Class C shares will have their shares converted at net asset value to Class A shares (or the appropriate share class) of the fund if the shares are no longer subject to a CDSC and the conversion is consistent with D.A. Davidson’s policies and procedures
· D.A. Davidson has the authority to allow the purchase of Class A shares at net asset value for (1) rollovers to IRAs from investments held in American Funds Recordkeeper Direct and PlanPremier retirement plan recordkeeping programs, (2) rollovers to IRAs from 403(b) plans with Capital Bank and Trust Company as custodian, or (3) IRA purchases so long as the proceeds are from the sale of shares from an American Funds Recordkeeper Direct retirement plan, PlanPremier retirement plan or 403(b) plan with Capital Bank and Trust Company as custodian and are used to make a purchase within 60 days of the redemption, if the shares held are ineligible to be rolled over to an IRA
CDSC Waivers on Classes A and C shares available at D.A. Davidson
• Death or disability of the shareholder
· Shares sold as part of a systematic withdrawal plan as described in the fund’s prospectus
· Return of excess contributions from an IRA Account
· Shares sold as part of a required minimum distribution for IRA and retirement accounts pursuant to the Internal Revenue Code
· Shares acquired through a right of reinstatement
Front-end sales charge discounts available at D.A. Davidson: breakpoints, rights of accumulation and/or letters of intent
· Breakpoints as described in this prospectus
· Rights of accumulation which entitle shareholders to breakpoint discounts will be automatically calculated based on the aggregated holding of fund family assets held by accounts within the purchaser’s household at D.A. Davidson. Eligible fund family assets not held at D.A. Davidson may be included in the calculation of rights of accumulation only if the shareholder notifies his or her financial advisor about such assets
· Letters of intent which allow for breakpoint discounts based on anticipated purchases within a fund family, over a 13-month time period. Eligible fund family assets not held at D.A. Davidson may be included in the calculation of letters of intent only if the shareholder notifies his or her financial advisor about such assets
Edward D. Jones & Co., L.P. (“Edward Jones”)
Policies Regarding Transactions Through Edward Jones
The following information has been provided by Edward Jones:
Clients of Edward Jones (also referred to as “shareholders”) purchasing fund shares on the Edward Jones commission and fee-based platforms are eligible only for the following sales charge discounts (also referred to as “breakpoints”) and waivers, which can differ from discounts and waivers described elsewhere in the mutual fund prospectus or statement of additional information (“SAI”) or through another broker-dealer. In all instances, it is the shareholder’s responsibility to inform Edward Jones at the time of purchase of any relationship, holdings of American Funds, or other facts qualifying the purchaser for discounts or waivers. Edward Jones can ask for documentation of such circumstance. Shareholders should contact Edward Jones if they have questions regarding their eligibility for these discounts and waivers.
Washington Mutual Investors Fund / Prospectus 56
| Breakpoints |
· Breakpoint pricing, otherwise known as volume pricing, at dollar thresholds as described in the prospectus
Rights of Accumulation (“ROA”)
· The applicable sales charge on a purchase of Class A shares is determined by taking into account all share classes (except certain money market funds and any assets held in group retirement plans) of American Funds and CollegeAmerica 529 Plan held by the shareholder or in an account grouped by Edward Jones with other accounts for the purpose of providing certain pricing considerations (“pricing groups”). If grouping assets as a shareholder, this includes all share classes held on the Edward Jones platform and/or held on another platform. The inclusion of eligible fund family assets in the ROA calculation is dependent on the shareholder notifying Edward Jones of such assets at the time of calculation. Money market funds are included only if such shares were sold with a sales charge at the time of purchase or acquired in exchange for shares purchased with a sales charge
· The employer maintaining a SEP IRA plan and/or SIMPLE IRA plan may elect to establish or change ROA for the IRA accounts associated with the plan to a plan-level grouping as opposed to including all share classes at a shareholder or pricing group level
· ROA is determined by calculating the higher of cost minus redemptions or market value (current shares x NAV)
Letter of Intent (“LOI”)
· Through a LOI, shareholders can receive the sales charge and breakpoint discounts for purchases shareholders intend to make over a 13-month period from the date Edward Jones receives the LOI. The LOI is determined by calculating the higher of cost or market value of qualifying holdings at LOI initiation in combination with the value that the shareholder intends to buy over a 13-month period to calculate the front-end sales charge and any breakpoint discounts. Each purchase the shareholder makes during that 13-month period will receive the sales charge and breakpoint discount that applies to the total amount. The inclusion of eligible fund family assets in the LOI calculation is dependent on the shareholder notifying Edward Jones of such assets at the time of calculation. Purchases made before the LOI is received by Edward Jones are not adjusted under the LOI and will not reduce the sales charge previously paid. Sales charges will be adjusted if LOI is not met
· If the employer maintaining a SEP IRA plan and/or SIMPLE IRA plan has elected to establish or change ROA for the IRA accounts associated with the plan to a plan-level grouping, LOIs will also be at the plan-level and may only be established by the employer
Sales Charge Waivers
Sales charges are waived for the following shareholders and in the following situations:
· Associates of Edward Jones and its affiliates and other accounts in the same pricing group (as determined by Edward Jones under its policies and procedures) as the associate. This waiver will continue for the remainder of the associate’s life if the associate retires from Edward Jones in good-standing and remains in good standing pursuant to Edward Jones’ policies and procedures
· Shares purchased in an Edward Jones fee-based program
57 Washington Mutual Investors Fund / Prospectus
· Shares purchased through reinvestment of capital gains distributions and dividend reinvestment
· Shares purchased from the proceeds of redeemed shares of the same fund family so long as the following conditions are met: the proceeds are from the sale of shares within 60 days of the purchase, the sale and purchase are made from a share class that charges a front-end load and one of the following (“Right of Reinstatement“):
— The redemption and repurchase occur in the same account
— The redemption proceeds are used to process an: IRA contribution, excess contributions, conversion, recharacterizing of contributions, or distribution, and the repurchase is done in an account within the same Edward Jones grouping for ROA
The Right of Reinstatement excludes systematic or automatic transactions including, but not limited to, purchases made through payroll deductions, liquidations to cover account fees, and reinvestments from non-mutual fund products.
· Shares exchanged into Class A shares from another share class so long as the exchange is into the same fund and was initiated at the discretion of Edward Jones. Edward Jones is responsible for any remaining CDSC due to the fund company, if applicable. Any future purchases are subject to the applicable sales charge as disclosed in the prospectus
· Exchanges from Class C shares to Class A shares of the same fund, generally, in the 84th month following the anniversary of the purchase date or earlier at the discretion of Edward Jones
· Purchases of Class 529-A shares through a rollover from either another education savings plan or a security used for qualified distributions
· Purchases of Class 529-A shares made for recontribution of refunded amounts
Contingent Deferred Sales Charge (“CDSC”) Waivers
If the shareholder purchases shares that are subject to a CDSC and those shares are redeemed before the CDSC is expired, the shareholder is responsible to pay the CDSC except in the following conditions:
· The death or disability of the shareholder
· Systematic withdrawals with up to 10% per year of the account value
· Return of excess contributions from an Individual Retirement Account (IRA)
· Shares redeemed as part of a required minimum distribution for IRA and retirement accounts if the redemption is taken in or after the year the shareholder reaches qualified age based on applicable IRS regulations
· Shares redeemed to pay Edward Jones fees or costs in such cases where the transaction is initiated by Edward Jones
· Shares exchanged in an Edward Jones fee-based program
· Shares acquired through NAV reinstatement
· Shares redeemed at the discretion of Edward Jones for Minimum Balances, as described below
Other Important Information Regarding Transactions Through Edward Jones
Minimum Purchase Amounts
· Initial purchase minimum: $250
Washington Mutual Investors Fund / Prospectus 58
· Subsequent purchase minimum: none
Minimum Balances
· Edward Jones has the right to redeem at its discretion fund holdings with a balance of $250 or less. The following are examples of accounts that are not included in this policy:
— A fee-based account held on an Edward Jones platform
— A 529 account held on an Edward Jones platform
— An account with an active systematic investment plan or LOI
Exchanging Share Classes
· At any time it deems necessary, Edward Jones has the authority to exchange at NAV a shareholder’s holdings in a fund to Class A shares of the same fund, or Class R-4 shares for retirement plans, so long as the shareholder is eligible to purchase the Class A or R-4 shares pursuant to the prospectus.
Class A Sales Charge Waivers Available Through Farmers Financial Solutions
Farmers Financial Solutions has the authority to either (1) rollover shares from an employer sponsored retirement plan to Class A shares in an Individual Retirement Account (IRA) at net asset value or (2) allow the purchase of Class A shares at net asset value, so long as the proceeds are from the sale of shares from an employer sponsored retirement plan and are used to make a purchase within 60 days of the redemption, if the shares held are ineligible to be rolled over to an IRA.
Janney Montgomery Scott LLC (“Janney”)
If you purchase fund shares through a Janney brokerage account, you will be eligible for the following load waivers (front-end sales charge waivers and contingent deferred sales charge (“CDSC”), or back-end sales charge, waivers) and discounts, which may differ from those disclosed elsewhere in this fund’s Prospectus or SAI.
Front-end sales charge* waivers on Class A shares available at Janney
· Shares purchased through reinvestment of capital gains distributions and dividend reinvestment when purchasing shares of the same fund (but not any other fund within the fund family)
· Shares purchased by employees and registered representatives of Janney or its affiliates and their family members as designated by Janney
· Shares purchased from the proceeds of redemptions within the same fund family, provided (1) the repurchase occurs within ninety (90) days following the redemption, (2) the redemption and purchase occur in the same account, and (3) redeemed shares were subject to a front-end or deferred sales load (i.e., right of reinstatement)
· Shares acquired through a right of reinstatement
· Class C shares that are no longer subject to a contingent deferred sales charge and are converted to Class A shares of the same fund pursuant to Janney’s policies and procedures
CDSC waivers on Class A and C shares available at Janney
· Shares sold upon the death or disability of the shareholder
· Shares sold as part of a systematic withdrawal plan as described in the fund’s Prospectus
· Shares purchased in connection with a return of excess contributions from an IRA Account
59 Washington Mutual Investors Fund / Prospectus
· Shares sold as part of a required minimum distribution for IRA and other retirement accounts due to the shareholder reaching the qualified age based on applicable IRS regulations as described in the fund’s Prospectus
· Shares sold to pay Janney fees but only if the transaction is initiated by Janney
· Shares acquired through a right of reinstatement
· Shares exchanged into the same share class of a different fund unless otherwise provided in the Prospectus
Front-end sales charge* discounts available at Janney: breakpoints, rights of accumulation, and/or letters of intent
· Breakpoints as described in the fund’s Prospectus
· Rights of accumulation (“ROA”), which entitle shareholders to breakpoint discounts, will be automatically calculated based on the aggregated holding of fund family assets held by accounts within the purchaser’s household at Janney. Eligible fund family assets not held at Janney may be included in the ROA calculation only if the shareholder notifies his or her financial advisor about such assets
· Letters of intent which allow for breakpoint discounts based on anticipated purchases within a fund family, over a 13-month time period. Eligible fund family assets not held at Janney may be included in the calculation of letters of intent only if the shareholder notifies his or her financial advisor about such assets
*Also referred to as an “initial sales charge.”
JP Morgan Securities LLC
Investors purchasing through JP Morgan Securities LLC may invest in Class 529-A shares at net asset value.
If you purchase or hold fund shares through an applicable JP Morgan Securities LLC brokerage account, you will be eligible for the following sales charge waivers (front-end sales charge waivers and contingent deferred sales charge (“CDSC”), or back-end sales charge, waivers), share class conversion policy and discounts, which may differ from those disclosed elsewhere in this fund’s prospectus or statement of additional information.
Front-end sales charge waivers on Class A shares available at JP Morgan Securities LLC
· Shares exchanged from Class C (i.e., level-load) shares of the same fund pursuant to JP Morgan Securities LLC’s policies relating to sales load discounts and waivers
· Shares purchased through rights of reinstatement
· Shares purchased through reinvestment of capital gains distributions and dividend reinvestment when purchasing shares of the same fund (but not any other fund within the fund family)
· Shares purchased by employees and registered representatives of JP Morgan Securities LLC or its affiliates and their spouse or financial dependent
Class C to Class A share conversion
· A shareholder in the fund’s Class C shares will have their shares converted to Class A shares (or the appropriate share class) of the same fund if the shares are no longer subject to a CDSC and the conversion is consistent with JP Morgan Securities LLC’s policies and procedures
Washington Mutual Investors Fund / Prospectus 60
JP Morgan Securities LLC Class R-4 share employer-sponsored retirement plan eligibility
· Qualified employer-sponsored defined contribution and defined benefit retirement plans, nonqualified deferred compensation plans, other employee benefit plans and trusts used to fund those plans. For purposes of this provision, such plans do not include SEP IRAs, SIMPLE IRAs, SARSEPs or 501(c)(3) accounts
CDSC waivers on Class A and Class C shares available at JP Morgan Securities LLC
· Shares sold upon the death or disability of the shareholder
· Shares sold as part of a systematic withdrawal plan as described in the fund’s prospectus
· Shares purchased in connection with a return of excess contributions from an IRA account
· Shares sold as part of a required minimum distribution for IRA and retirement accounts pursuant to the Internal Revenue Code
· Shares acquired through a right of reinstatement
Front-end load discounts available at JP Morgan Securities LLC: breakpoints, rights of accumulation & letters of intent
· Breakpoints as described in the prospectus
· Rights of Accumulation (“ROA”) which entitle shareholders to breakpoint discounts as described in the fund’s prospectus will be automatically calculated based on the aggregated holding of fund family assets held by accounts within the purchaser’s household at JP Morgan Securities LLC. Eligible fund family assets not held at JP Morgan Securities LLC (including 529 program holdings, where applicable) may be included in the ROA calculation only if the shareholder notifies their financial advisor about such assets
· Letters of Intent (“LOI”) which allow for breakpoint discounts based on anticipated purchases within a fund family, through JP Morgan Securities LLC, over a 13-month period of time (if applicable)
Merrill Lynch, Pierce, Fenner & Smith (“Merrill Lynch”)
Purchases or sales of front-end (for example, Class A) or level-load (for example, Class C) mutual fund shares through a Merrill Lynch platform or account will be eligible only for the following sales load waivers (front-end, contingent deferred, or back-end waivers) and discounts, which differ from those disclosed elsewhere in this fund’s prospectus. Purchasers will have to buy mutual fund shares directly from the mutual fund company or through another intermediary to be eligible for waivers or discounts not listed below.
It is the client’s responsibility to notify Merrill Lynch at the time of purchase or sale of any relationship or other facts that qualify the transaction for a waiver or discount. A Merrill Lynch representative may ask for reasonable documentation of such facts and Merrill Lynch may condition the granting of a waiver or discount on the timely receipt of such documentation.
Additional information on waivers, discounts, and share class exchanges is available in the Merrill Lynch Sales Load Waiver and Discounts Supplement (the “Merrill Lynch SLWD Supplement”) and in the Mutual Fund Investing at Merrill Lynch pamphlet at ml.com/funds. Clients are encouraged to review these documents and speak with their financial advisor to determine whether a transaction is eligible for a waiver or discount.
61 Washington Mutual Investors Fund / Prospectus
Front-end load waivers available at Merrill Lynch
· Shares of mutual funds available for purchase by employer-sponsored retirement, deferred compensation, and employee benefit plans (including health savings accounts) and trusts used to fund those plans provided the shares are not held in a commission-based brokerage account and shares are held for the benefit of the plan. Except as provided below, Class A shares are not currently available to new plans described in this waiver. Plans that invested in Class A shares of any of the funds without any sales charge before April 1, 2004, and that continue to meet the eligibility requirements in effect as of that date for purchasing Class A shares at net asset value, may continue to purchase Class A shares without any initial or contingent deferred sales charge. For purposes of this provision, employer-sponsored retirement plans do not include SEP IRAs, SIMPLE IRAs, SARSEPs or Keogh plans
· Shares purchased through a Merrill Lynch investment advisory program. Class A shares are not currently available in the programs described in this waiver
· Brokerage class shares exchanged from advisory class shares due to the holdings moving from a Merrill Lynch investment advisory program to a Merrill Lynch brokerage account
· Shares purchased through the Merrill Lynch Edge Self-Directed platform. Class A shares are not currently available in the programs described in this waiver
· Shares purchased through the systematic reinvestment of capital gains distributions and dividend reinvestment when purchasing shares of the same mutual fund in the same account
· Shares exchanged from level-load shares to front-end load shares of the same mutual fund in accordance with the description in the Merrill Lynch SLWD Supplement
· Shares purchased by eligible employees of Merrill Lynch or its affiliates and their family members who purchase shares in accounts within the employee’s Merrill Lynch Household (as defined in the Merrill Lynch SLWD Supplement)
· Shares purchased by eligible persons associated with the fund as defined in this prospectus (e.g., the fund’s officers or trustees)
· Shares purchased from the proceeds of a mutual fund redemption in front-end load shares provided (1) the repurchase is in a mutual fund within the same fund family; (2) the repurchase occurs within 90 calendar days from the redemption trade date; and (3) the redemption and purchase occur in the same account (known as Rights of Reinstatement). Automated transactions (i.e., systematic purchases and withdrawals) and purchases made after shares are automatically sold to pay Merrill Lynch’s account maintenance fees are not eligible for Rights of Reinstatement
Contingent Deferred Sales Charge (“CDSC”) waivers on front-end, back-end, and level load shares available at Merrill Lynch
· Shares sold due to the client’s death or disability (as defined by Internal Revenue Code Section 22(e)(3))
· Shares sold pursuant to a systematic withdrawal program subject to Merrill Lynch’s maximum systematic withdrawal limits as described in the Merrill Lynch SLWD Supplement
· Shares sold due to return of excess contributions from an IRA account
Washington Mutual Investors Fund / Prospectus 62
· Shares sold as part of a required minimum distribution for IRA and retirement accounts due to the investor reaching the qualified age based on applicable IRS regulation
· Front-end or level-load shares held in commission-based, non-taxable retirement brokerage accounts (e.g., traditional, Roth, rollover, SEP IRAs, SIMPLE IRAs, SARSEPs or Keogh plans) that are transferred to fee-based accounts or platforms and exchanged for a lower cost share class of the same mutual fund
Front-end load discounts available at Merrill Lynch: breakpoints, rights of accumulation & letters of intent
· Breakpoint discounts, as described in this prospectus, where the sales load is at or below the maximum sales load that Merrill Lynch permits to be assessed to a front-end load purchase, as described in the Merrill Lynch SLWD Supplement
· Rights of Accumulation (ROA), as described in the Merrill Lynch SLWD Supplement, which entitle clients to breakpoint discounts based on the aggregated holdings of mutual fund family assets held in accounts in their Merrill Lynch Household
On or about May 1, 2026, assets not held at Merrill Lynch will no longer be included in the ROA calculation. For more detail on the timing and calculation, please refer to the Merrill Lynch SLWD Supplement.
· Letters of Intent (LOI), which allow for breakpoint discounts on eligible new purchases based on anticipated future eligible purchases within a fund family at Merrill Lynch, in accounts within your Merrill Lynch Household, as further described in the Merrill Lynch SLWD Supplement
On or about May 1, 2026, Merrill Lynch will no longer accept new LOIs. For more detail on the timing, please refer to the Merrill Lynch SLWD Supplement.
CollegeAmerica accounts
If clients establish or hold their CollegeAmerica 529 Plan (Plan) accounts on the Merrill Lynch omnibus platform, the features and policies related to share class sales charges (including contingent deferred sales charges (CDSC), if any), share class sales charge waivers or discounts, letters of intent (LOI) and reinstatement privileges, and Class 529-C share conversion period will be different than referenced in this document and will be governed by the Merrill Lynch 529 Account Unit Class Disclosure and Terms and Conditions (T&Cs) provided to clients by Merrill Lynch prior to establishing their Plan account.
Except as described in this Merrill Lynch specific section of this document and the T&Cs, Merrill Lynch does not offer any initial sales charge discounts, CDSC waivers, LOI or reinstatement privileges in the 529 plans offered on the Merrill Lynch omnibus platform (the “529 Discounts, Waivers and Privileges”). To receive the 529 Discounts, Waivers, and Privileges not offered by Merrill Lynch, clients will have to invest in the Plan directly or through another intermediary.
Before investing in the Plan through Merrill Lynch, clients should consider the potential benefits and importance to them of such 529 Discounts, Waivers, and Privileges.
For additional information on the Discounts, Waivers, and Privileges and Merrill Lynch’s policies, clients are encouraged to contact their financial advisor or refer to the T&C.
If clients establish or hold their Plan accounts on the Merrill Lynch omnibus platform, then the share class (described as unit class in the T&Cs) their account will purchase will
63 Washington Mutual Investors Fund / Prospectus
generally be based on their eligible assets or meeting other eligibility criteria as set forth in the T&Cs. The Plan offered by Merrill Lynch on its omnibus platform will have two share classes – Class 529-A share and Class 529-C share–each with its own fee and expense structure. Each account will purchase a specific share class when an initial or subsequent contribution is credited to the account. The share class will be automatically determined at the time of the contribution based on the participant’s eligible assets and/or meeting other eligibility criteria. Clients will not be able to select the share class. Among other things, Class 529-C shares will be automatically converted to Class 529-A shares (not subject to an initial sales charge) after four years from their respective dates of purchase. If the Plan permits Class 529-C shares’ conversion sooner than four years, such earlier conversion date will automatically apply.
For additional information, clients are encouraged to contact their financial advisor or refer to the T&Cs.
Morgan Stanley Wealth Management (“Morgan Stanley”)
Morgan Stanley Class A share front-end sales charge waiver
Morgan Stanley clients purchasing or converting to Class A shares of the fund through Morgan Stanley transactional brokerage accounts are entitled to a waiver of the front-end load in the following additional circumstances:
· Morgan Stanley employee and employee-related accounts according to Morgan Stanley’s account linking rules
· Shares purchased through reinvestment of dividends and capital gains distributions when purchasing shares of the same fund
· Class C (level load) share positions that are no longer subject to a contingent deferred sales charge and are converted to a Class A share in the same fund pursuant to Morgan Stanley’s share class conversion program
· Morgan Stanley, on your behalf, can convert Class F-1 shares to Class A shares without a front-end sales charge if they were initially transferred to the transactional brokerage account or converted from Class C shares
· Shares purchased from the proceeds of redemptions within the same fund family under a Rights of Reinstatement provision, provided the repurchase occurs within 90 days following the redemption, the redemption and purchase occur in the same account, and redeemed shares were subject to a front-end or deferred sales load. This waiver is not available for 529 Plan accounts maintained through Morgan Stanley. Investors wishing to utilize this privilege will need to do so through an account held directly with the Plan or a financial intermediary that supports this feature
· Investors purchasing through a Morgan Stanley self-directed brokerage account and/or E*TRADE from Morgan Stanley may invest in Class A shares without a front-end sales charge
Morgan Stanley clients purchasing or converting to Class 529-A shares of the fund through Morgan Stanley transactional brokerage accounts are entitled to a waiver of the front-end load in the following additional circumstances:
· Shares purchased through a rollover from another 529 plan
· Recontribution(s) of a refunded qualified higher education expense
Washington Mutual Investors Fund / Prospectus 64
Unless specifically described above, no other front-end load waivers are available to mutual fund purchases by Morgan Stanley clients.
Morgan Stanley Class R-4 share employer-sponsored retirement plan eligibility
Employer-sponsored retirement plans (e.g., 401(k) plans, 457 plans, employer-sponsored 403(b) plans, profit sharing and money purchase pension plans and defined benefit plans). For purposes of this provision, employer-sponsored retirement plans do not include SEP IRAs, SIMPLE IRAs, SARSEPs or Keogh plans.
Northwestern Mutual Investment Services, LLC (“NMIS”)
Rights of accumulation on SIMPLE IRAs held at NMIS
Effective March 31, 2022, for SIMPLE IRA plans where the plan is held on the SIMPLE IRA platform at NMIS through its clearing firm, Pershing LLC, each linked participant account will be aggregated at either the plan level or the individual level for rights of accumulation (ROA), depending on which aggregation method results in a greater breakpoint discount on front-end sales charges for the participant.
Class A and C share purchases in owner-only 401(k) plans held at NMIS
For 401(k) plans held at NMIS through its clearing firm, Pershing LLC, that cover only owners and their spouses and are not subject to ERISA, participants may purchase Class A shares with the applicable front-end sales charge or Class C shares with the applicable contingent deferred sales charge, in accordance with NMIS’s share class policies applicable to such plans.
Oppenheimer & Co., Inc. (“OPCO”)
Effective June 1, 2020, shareholders purchasing fund shares through an OPCO platform or account are eligible only for the following load waivers (front-end sales charge waivers and contingent deferred, or back-end, sales charge waivers) and discounts, which may differ from those disclosed elsewhere in this fund’s prospectus or SAI.
Front-end sales load waivers on Class A shares available at OPCO
· Shares purchased through reinvestment of capital gains distributions and dividend reinvestment when purchasing shares of the same fund (but not any other fund within the fund family)
· Shares purchased from the proceeds of redemptions within the same fund family, provided (1) the repurchase occurs within 90 days following the redemption, (2) the redemption and purchase occur in the same account, and (3) redeemed shares were subject to a front-end or deferred sales load (known as Rights of Restatement)
· A shareholder in the fund’s Class C shares will have their shares converted at net asset value to Class A shares (or the appropriate share class) of the fund if the shares are no longer subject to a CDSC and the conversion is in line with the policies and procedures of OPCO
· Employees and registered representatives of OPCO or its affiliates and their family members
· Directors or trustees of the fund, and employees of the fund’s investment adviser or any of its affiliates, as described in this prospectus
CDSC waivers on Class A and C shares available at OPCO
· Death or disability of the shareholder
65 Washington Mutual Investors Fund / Prospectus
· Shares sold as part of a systematic withdrawal plan as described in the fund’s prospectus
· Return of excess contributions from an IRA Account
· Shares sold as part of a required minimum distribution for IRA and retirement accounts due to the shareholder reaching the qualified age based on applicable IRS regulations as described in the prospectus
· Shares sold to pay OPCO fees but only if the transaction is initiated by OPCO
· Shares acquired through a right of reinstatement
Front-end load discounts available at OPCO: breakpoints, rights of accumulation and letters of intent
· Breakpoints as described in this prospectus
· Rights of accumulation (ROA) which entitle shareholders to breakpoint discounts will be automatically calculated based on the aggregated holding of fund family assets held by accounts within the purchaser’s household at OPCO. Eligible fund family assets not held at OPCO may be included in the ROA calculation only if the shareholder notifies his or her financial advisor about such assets
Raymond James & Associates, Inc., Raymond James Financial Services, Inc., and each entity’s affiliates (“Raymond James”)
Shareholders purchasing fund shares through a Raymond James platform or account, or through an introducing broker-dealer or independent registered investment adviser for which Raymond James provides trade execution, clearance, and/or custody services, will be eligible only for the following sales charge waivers (front-end sales charge waivers and contingent deferred, or back-end, sales charge waivers) and discounts, which may differ from those disclosed elsewhere in this fund’s prospectus or SAI.
Front-end sales charge waivers on Classes A and 529-A shares available at Raymond James
· Shares purchased within the same fund family through a systematic reinvestment of capital gains and dividend distributions
· Employees and registered representatives of Raymond James or its affiliates and their family members as designated by Raymond James
· Shares purchased from the proceeds of redemptions within the same fund family, provided (1) the repurchase occurs within 90 days following the redemption, (2) the redemption and purchase occur in the same account, and (3) redeemed shares were subject to a front-end or deferred sales charge (known as Rights of Reinstatement)
· A shareholder in the Fund’s Class C shares will have their shares converted at net asset value to Class A shares (or the appropriate share class) of the Fund if the shares are no longer subject to a CDSC and the conversion is in line with the policies and procedures of Raymond James
· Purchases of Class 529-A shares through a rollover from another 529 plan
CDSC waivers on Classes A and C shares available at Raymond James
· Death or disability of the shareholder
· Shares sold as part of a systematic withdrawal plan as described in the fund’s prospectus
· Return of excess contributions from an IRA Account
Washington Mutual Investors Fund / Prospectus 66
· Shares sold as part of a required minimum distribution for IRA and retirement accounts due to the shareholder reaching the qualified age based on applicable IRS regulations as described in the fund’s prospectus
· Shares sold to pay Raymond James fees but only if the transaction is initiated by Raymond James
· Shares acquired through a right of reinstatement
Front-end sales charge discounts available at Raymond James: breakpoints, rights of accumulation and/or letters of intent
· Breakpoints as described in this prospectus
· Rights of accumulation which entitle shareholders to breakpoint discounts will be automatically calculated based on the aggregated holding of fund family assets held by accounts within the purchaser’s household at Raymond James. Eligible fund family assets not held at Raymond James may be included in the calculation of rights of accumulation only if the shareholder notifies his or her financial advisor about such assets
· Letters of intent which allow for breakpoint discounts based on anticipated purchases within a fund family, over a 13-month time period. Eligible fund family assets not held at Raymond James may be included in the calculation of letters of intent only if the shareholder notifies his or her financial advisor about such assets
Robert W. Baird & Co. Incorporated (“Baird”)
Shareholders purchasing fund shares through a Baird platform or account will only be eligible for the following sales charge waivers (front-end sales charge waivers and CDSC waivers) and discounts, which may differ from those disclosed elsewhere in this prospectus or the SAI.
Front-end sales charge waivers on Class A shares available at Baird
· Shares purchased through reinvestment of capital gains distributions and dividend reinvestment when purchasing shares of the same fund
· Shares purchased by employees and registered representatives of Baird or its affiliate and their family members as designated by Baird
· Shares purchased from the proceeds of redemptions from another fund, provided (1) the repurchase occurs within 90 days following the redemption, (2) the redemption and purchase occur in the same accounts, and (3) redeemed shares were subject to a front-end or deferred sales charge (known as rights of reinstatement)
· A shareholder in the fund’s Class C shares will have their shares converted at net asset value to Class A shares of the fund if the shares are no longer subject to CDSC and the conversion is in line with the policies and procedures of Baird
· Charitable accounts in a transactional brokerage account at Baird
CDSC waivers on Class A and C shares available at Baird
· Shares sold due to death or disability of the shareholder
· Shares sold as part of a systematic withdrawal plan as described in the fund’s prospectus
· Shares bought due to returns of excess contributions from an IRA Account
· Shares sold as part of a required minimum distribution for IRA and retirement accounts due to the shareholder reaching the qualified age based on applicable IRS regulations as described in the fund’s prospectus
67 Washington Mutual Investors Fund / Prospectus
· Shares sold to pay Baird fees but only if the transaction is initiated by Baird
· Shares acquired through a right of reinstatement
Front-end sales charge discounts available at Baird: breakpoints and/or rights of accumulation
· Breakpoints as described in this prospectus
· Rights of accumulation which entitles shareholders to breakpoint discounts will be automatically calculated based on the aggregated holding of fund family assets held by accounts within the purchaser’s household at Baird. Eligible fund family assets not held at Baird may be included in the rights of accumulation calculation only if the shareholder notifies his or her financial advisor about such assets
· Letters of intent (LOI) allow for breakpoint discounts based on anticipated purchases of fund family assets through Baird, over a 13-month period of time
Stifel, Nicolaus & Company, Incorporated (“Stifel”) and its broker dealer affiliates
Shareholders purchasing or holding fund shares, including existing fund shareholders, through a Stifel or affiliated platform that provides trade execution, clearance, and/or custody services, will be eligible for the following sales charge load waivers (including front-end sales charge waivers and contingent deferred, or back-end, sales charge (“CDSC”) waivers) and discounts, which may differ from those disclosed elsewhere in the fund’s prospectus or SAI.
Class A Shares
As described elsewhere in this prospectus, Stifel may receive compensation out of the front-end sales charge if you purchase Class A shares through Stifel.
Rights of accumulation
· Rights of accumulation (“ROA”) that entitle shareholders to breakpoint discounts on front-end sales charges will be calculated by Stifel based on the aggregated holding of eligible assets in the American Funds held by accounts within the purchaser’s household at Stifel. Ineligible assets include Class A money market funds not assessed a sales charge. Fund family assets not held at Stifel may be included in the calculation of ROA only if the shareholder notifies his or her financial advisor about such assets
· The employer maintaining a SEP IRA plan and/or SIMPLE IRA plan may elect to establish or change ROA for the IRA accounts associated with the plan to a plan-level grouping as opposed to including all share classes at a shareholder or pricing group level
Front-end sales charge waivers on Class A shares available at Stifel
Sales charges may be waived for the following shareholders and in the following situations:
· Class C shares that have been held for more than seven (7) years may be converted to Class A or other Front-end share class(es) of the same fund pursuant to Stifel’s policies and procedures. To the extent that this prospectus elsewhere provides for a waiver with respect to the exchange or conversion of such shares following a shorter holding period, those provisions shall continue to apply
· Shares purchased by employees and registered representatives of Stifel or its affiliates and their family members as designated by Stifel
· Shares purchased in a Stifel fee-based advisory program, often referred to as a “wrap” program
Washington Mutual Investors Fund / Prospectus 68
· Shares purchased through reinvestment of capital gains distributions and dividend reinvestment when purchasing shares of the same or other fund within the fund family
· Shares purchased from the proceeds of redeemed shares of the same fund family so long as the proceeds are from the sale of shares from an account with the same owner/beneficiary within 90 days of the purchase. For the absence of doubt, automated transactions (i.e., systematic purchases, including salary deferral transactions and withdrawals) and purchases made after shares are sold to cover Stifel’s account maintenance fees are not eligible for rights of reinstatement
· Shares from rollovers into Stifel custodied IRA from retirement plans
· Shares exchanged into Class A shares from another share class so long as the exchange is into the same fund and was initiated at the direction of Stifel. Stifel is responsible for any remaining CDSC due to the fund company, if applicable. Any future purchases are subject to the applicable sales charge as disclosed in the prospectus
· Purchases of Class 529-A shares through a rollover from another 529 plan
· Purchases of Class 529-A shares made for reinvestment of refunded amounts
CDSC Waivers on Class A and C Shares
· Death or disability of the shareholder or, in the case of 529 plans, the account beneficiary
· Shares sold as part of a systematic withdrawal plan not to exceed 12% annually
· Return of excess contributions from an IRA Account
· Shares sold as part of a required minimum distribution for IRA and retirement accounts due to the shareholder reaching the qualified age based on applicable IRS regulations.
· Shares acquired through a right of reinstatement
· Shares sold to pay Stifel fees or costs in such cases where the transaction is initiated by Stifel
Share Class Conversions in Advisory Accounts
Stifel continually looks to provide our clients with the lowest cost share class available based on account type. Stifel reserves the right to convert shares to the lowest cost share class available at Stifel upon transfer of shares into an advisory program.
Wells Fargo Clearing Services, LLC and Wells Fargo Advisors Financial Network, LLC (collectively, “Wells Fargo Advisors”)
Wells Fargo Clearing Services, LLC operates a First Clearing business, but these rules are not intended to include First Clearing firms
Effective April 1, 2026, Clients of Wells Fargo Advisors purchasing fund shares through Wells Fargo Advisors are eligible for the following sales charge discounts (also referred to as “breakpoints”) and waivers, which can differ from discounts and waivers described elsewhere in the prospectus or statement of additional information (“SAI”). In all instances, it is the investor's responsibility to inform Wells Fargo Advisors at the time of purchase of any relationship, holdings, or other facts qualifying the investor for discounts or waivers. Wells Fargo Advisors can ask for documentation supporting the qualification.
Wells Fargo Advisors Class A share front-end sales charge waivers information
69 Washington Mutual Investors Fund / Prospectus
Wells Fargo Advisors clients purchasing or converting to Class A shares of the fund in a Wells Fargo Advisors brokerage account are entitled to a waiver of the front-end load in the following circumstances:
· Wells Fargo Advisors employee and employee-related accounts according to Wells Fargo Advisors’ employee account linking rules. Legacy accounts and positions receiving affiliate discounts prior to the effective date will continue to receive discounts. Going forward employees of affiliate businesses will not be offered NAV
· Shares purchased through reinvestment of dividends and capital gains distributions when purchasing shares of the same fund
WellsTrade, the firm’s online self-directed brokerage account, generally offers no-load share classes but there could be instances where a Class A share is offered without a front-end sales charge.
Wells Fargo Advisors Class 529-A share front-end sales charge waivers information
Wells Fargo Advisors clients purchasing or converting to Class 529-A shares of the fund through Wells Fargo Advisors transactional brokerage accounts are entitled to a waiver of the front-end load in the following circumstances:
· Shares purchased through a rollover from another 529 plan
· Recontribution(s) of distributed funds are only allowed during the NAV reinstatement period as dictated by the sponsor’s specifications outlined by the plan
Wells Fargo Advisors is not able to apply the NAV Reinstatement privilege for 529 Plan account purchases placed directly at the fund company. Investors wishing to utilize this privilege outside of Wells Fargo systems will need to do so directly with the Plan or a financial intermediary that supports this feature.
Unless specifically described above, other front-end load waivers are not available on mutual fund purchases through Wells Fargo Advisors.
Wells Fargo Advisors Contingent Deferred Sales Charge information
· Contingent deferred sales charges (CDSC) imposed on fund redemptions will not be rebated based on future purchases
Wells Fargo Advisors Class A front-end load discounts
Wells Fargo Advisors Clients purchasing Class A shares of the fund through Wells Fargo Advisors brokerage accounts will follow the following aggregation rules for breakpoint discounts:
· Effective April 1, 2026, SEP or SIMPLE IRAs will not be aggregated as a group plan. They will aggregate with the client’s personal accounts based on Social Security Number. Previously established SEP and SIMPLE IRAs may still be aggregated as a group plan
· Effective April 1, 2026, Employer-sponsored retirement plan (e.g., 401(k) plans, 457 plans, employer-sponsored 403(b) plans, profit sharing and money purchase pension plans and defined benefit plans) accounts will aggregate with other plan accounts under the same Tax ID and will not be aggregated with other retirement plan accounts under a different Tax ID or personal accounts. For purposes of this provision, employer-sponsored retirement plans do not include SEP IRAs, SIMPLE IRAs, SARSEPs or Keogh plans
· Gift of shares will not be considered when determining breakpoint discounts
Washington Mutual Investors Fund / Prospectus 70
| For shareholder services and 24-hour information | American
Funds Service Company (800) 421-4225 capitalgroup.com For Class R share information, visit AmericanFundsRetirement.com |
||
| For retirement plan services | Call your employer or plan administrator | ||
| For 529 plans | American
Funds Service Company (800) 421-4225, ext. 529 |
||
| Telephone calls you have with Capital Group may be monitored or recorded for quality assurance, verification and recordkeeping purposes. By speaking to Capital Group on the telephone, you consent to such monitoring and recording. | |||
Multiple translations This prospectus may be translated into other languages. If there is any inconsistency or ambiguity as to the meaning of any word or phrase in a translation, the English text will prevail. Liability is not limited as a result of any material misstatement or omission introduced in the translation.
Annual/Semi-annual report to shareholders and Form N-CSR Additional information about the fund’s investments is available in the fund’s annual and semi-annual reports to shareholders and in the Form N-CSR/S on file with the U.S. Securities and Exchange Commission (“SEC”). In the fund’s annual report, you will find a summary discussion of the key market conditions and investment strategies that significantly affected the fund’s performance during its last fiscal year. In Form N-CSR/S, you will find the fund’s annual and semi-annual financial statements.
Program description The CollegeAmerica 529 program description contains additional information about the policies and services related to 529 plan accounts.
Statement of additional information (SAI) and codes of ethics The current SAI, as amended from time to time, contains more detailed information about the fund, including the fund’s financial statements, and is incorporated by reference into this prospectus. This means that the current SAI, for legal purposes, is part of this prospectus. The codes of ethics describe the personal investing policies adopted by the fund, the fund’s investment adviser and its affiliated companies.
The codes of ethics and current SAI are on file with the SEC. These and other related materials about the fund are available for review on the EDGAR database on the SEC’s website at sec.gov or, after payment of a duplicating fee, via email request to publicinfo@sec.gov. The codes of ethics, current SAI, shareholder reports and other information such as the fund’s financial statements are also available, free of charge, on our website, capitalgroup.com.
E-delivery and household mailings Each year you are automatically sent an updated summary prospectus and annual and semi-annual reports for the fund. You may also occasionally receive proxy statements for the fund. In order to reduce the volume of mail you receive, when possible, only one copy of these documents will be sent to shareholders who are part of the same family and share the same household address. You may elect to receive these documents electronically in lieu of paper form by enrolling in e-delivery on our website, capitalgroup.com.
If you would like to opt out of household-based mailings or receive a complimentary copy of the current SAI, codes of ethics, annual/semi-annual report to shareholders or applicable program description, please call American Funds Service Company at (800) 421-4225 or write to the secretary of the fund at 6455 Irvine Center Drive, Irvine, California 92618.
Securities Investor Protection Corporation (SIPC) Shareholders may obtain information about SIPC® on its website at sipc.org or by calling (202) 371-8300.
 |
MFGEPRX-001-0726P
Litho in USA CGD/TM/8023 Investment Company File No. 811-00604 |
THE FUND MAKES AVAILABLE A SPANISH TRANSLATION OF THE ABOVE PROSPECTUS IN CONNECTION WITH THE PUBLIC OFFERING AND SALE OF ITS SHARES. THE ENGLISH LANGUAGE PROSPECTUS ABOVE IS A FAIR AND ACCURATE REPRESENTATION OF THE SPANISH EQUIVALENT.
| /s/ | MICHAEL R. TOM |
| MICHAEL R. TOM | |
| SECRETARY |
Washington Mutual Investors Fund
Part
B
Statement
of Additional Information
July 1, 2026
This document is not a prospectus but should be read in conjunction with the current prospectus of Washington Mutual Investors Fund (the “fund”) dated July 1, 2026. You may obtain a prospectus from your financial professional, by calling American Funds Service Company® at (800) 421-4225 or by writing to the fund at the following address:
Washington
Mutual Investors Fund
Attention:
Secretary
6455
Irvine Center Drive
Irvine,
California 92618
Certain privileges and/or services described below may not be available to all shareholders (including shareholders who purchase shares at net asset value through eligible retirement plans) depending on the shareholder’s investment dealer or retirement plan recordkeeper. Please see your financial professional, investment dealer, plan recordkeeper or employer for more information.
|
Class A |
AWSHX |
Class 529-A |
CWMAX |
Class R-1 |
RWMAX |
|
Class C |
WSHCX |
Class 529-C |
CWMCX |
Class R-2 |
RWMBX |
|
Class F-1 |
WSHFX |
Class 529-E |
CWMEX |
Class R-2E |
RWEBX |
|
Class F-2 |
WMFFX |
Class 529-F-2 |
FWMMX |
Class R-3 |
RWMCX |
|
Class F-3 |
FWMIX |
Class 529-F-3 |
FWWMX |
Class R-4 |
RWMEX |
|
Class R-5E |
RWMHX | ||||
|
Class R-5 |
RWMFX | ||||
|
Class R-6 |
RWMGX |
Table of Contents
|
Item |
Page no. |
|
Certain investment limitations and guidelines |
2 |
|
Description of certain securities, investment techniques and risks |
3 |
|
Fund policies |
17 |
|
Management of the fund |
19 |
|
Execution of portfolio transactions |
46 |
|
Disclosure of portfolio holdings |
50 |
|
Price of shares |
52 |
|
Taxes and distributions |
55 |
|
Purchase and exchange of shares |
58 |
|
Sales charges |
63 |
|
Sales charge reductions and waivers |
66 |
|
Selling shares |
70 |
|
Redemptions in-kind |
71 |
|
Shareholder account services and privileges |
72 |
|
General information |
75 |
|
Appendix |
87 |
Investment
portfolio
Financial
statements
Washington Mutual Investors Fund — Page 1
Certain investment limitations and guidelines
The following limitations and guidelines are considered at the time of purchase, under normal circumstances, and are based on a percentage of the fund’s net assets (excluding, for the avoidance of doubt, collateral held in connection with securities lending activities) unless otherwise noted. This summary is not intended to reflect all of the fund’s investment limitations.
General guideline
· As set forth in its prospectus, generally, common stocks and securities convertible into common stocks meeting the fund’s Investment Standards and of issuers on the fund’s Eligible List may be purchased by the fund; however, the fund may also hold, to a limited extent, short-term U.S. government securities, cash and cash equivalents.
Investing outside the United States
· The fund may invest up to 10% of its assets outside the United States in securities of issuers that are not included in the S&P 500 Index as further described below under “The fund and its investment policies.”
· For purposes of determining whether an investment is made in a particular country or geographic region, the fund’s investment adviser will generally look to the domicile of the issuer in the case of equity securities or to the country to which the security is tied economically in the case of debt securities. In doing so, the fund’s investment adviser will generally look to the determination of MSCI Inc. (MSCI) for equity securities and Bloomberg for debt securities. In certain limited circumstances (including when relevant data is unavailable or the nature of a holding warrants special considerations), the adviser may also take into account additional factors, as applicable, including where the issuer’s securities are listed; where the issuer is legally organized, maintains principal corporate offices, conducts its principal operations, generates revenues and/or has credit risk exposure; and the source of guarantees, if any, of such securities.
* * * * * *
The fund may experience difficulty liquidating certain portfolio securities during significant market declines or periods of heavy redemptions.
Washington Mutual Investors Fund — Page 2
Description of certain securities, investment techniques and risks
The descriptions below are intended to supplement the material in the prospectus under “Investment objective, strategies and risks.”
Market conditions – The value of, and the income generated by, the securities in which the fund invests may decline, sometimes rapidly or unpredictably, due to factors affecting certain issuers, particular industries or sectors, or the overall markets. Rapid or unexpected changes in market conditions could cause the fund to liquidate holdings at inopportune times or at a loss or depressed value. The value of a particular holding may decrease due to developments related to that issuer, but also due to general market conditions, including real or perceived economic developments such as changes in interest rates, credit quality, inflation, or currency rates or generally adverse investor sentiment, or political events, such as the imposition of trading and tariff arrangements. The value of a holding may also decline due to factors that negatively affect a particular industry or sector, such as labor shortages, increased production costs, or competitive conditions.
Global economies and financial markets are highly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. Furthermore, local, regional and global events such as war, acts of terrorism, trading and tariff arrangements, social unrest, natural disasters, the spread of infectious illness or other public health threats, or bank failures could also adversely impact issuers, markets and economies, including in ways that cannot necessarily be foreseen. The fund could be negatively impacted if the value of a portfolio holding were harmed by such conditions or events.
Significant market disruptions, such as those caused by pandemics, natural or environmental disasters, war, acts of terrorism, bank failures or other events, can adversely affect local and global markets and normal market operations. Market disruptions may exacerbate political, social, and economic risks. Additionally, market disruptions may result in increased market volatility; regulatory trading halts; closure of domestic or foreign exchanges, markets, or governments; or market participants operating pursuant to business continuity plans for indeterminate periods of time. Such events can be highly disruptive to economies and markets and significantly impact individual companies, sectors, industries, markets, currencies, interest and inflation rates, credit ratings, investor sentiment, and other factors affecting the value of the fund’s investments and operation of the fund. These events could disrupt businesses that are integral to the fund’s operations or impair the ability of employees of fund service providers to perform essential tasks on behalf of the fund.
Governmental and quasi-governmental authorities may take a number of actions designed to support local and global economies and the financial markets in response to economic disruptions. Such actions may include a variety of significant fiscal and monetary policy changes, including, for example, direct capital infusions into companies, new monetary programs and significantly lower interest rates. These actions have resulted in significant expansion of public debt and may result in greater market risk. Additionally, an unexpected or quick reversal of these policies, or the ineffectiveness of these policies, could negatively impact overall investor sentiment and further increase volatility in securities markets.
Equity securities — Equity securities represent an ownership position in a company. Equity securities held by the fund typically consist of common stocks. The prices of equity securities fluctuate based on, among other things, events specific to their issuers and market, economic and other conditions. For example, prices of these securities can be affected by financial contracts held by the issuer or third parties (such as derivatives) relating to the security or other assets or indices. Holders of equity securities are not creditors of the issuer. If an issuer liquidates, holders of equity securities are entitled to their pro rata share of the issuer’s assets, if any, after creditors (including the holders of fixed income securities and senior equity securities) are paid.
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There may be little trading in the secondary market for particular equity securities, which may adversely affect the fund’s ability to value accurately or dispose of such equity securities. Adverse publicity and investor perceptions, whether or not based on fundamental analysis, may decrease the value and/or liquidity of equity securities.
The growth-oriented, equity-type securities generally purchased by the fund may involve large price swings and potential for loss. To the extent the fund invests in income-oriented, equity-type securities, income provided by the fund may be reduced by changes in the dividend policies of, and the capital resources available at, the companies in which the fund invests.
Securities with equity and debt characteristics — Certain securities have a combination of equity and debt characteristics. Such securities may at times behave more like equity than debt or vice versa.
Preferred stock — Preferred stock represents an equity interest in an issuer that generally entitles the holder to receive, in preference to common stockholders and the holders of certain other stocks, dividends and a fixed share of the proceeds resulting from a liquidation of the issuer. Preferred stocks may pay fixed or adjustable rates of return, and preferred stock dividends may be cumulative or non-cumulative and participating or non-participating. Cumulative dividend provisions require all or a portion of prior unpaid dividends to be paid before dividends can be paid to the issuer’s common stockholders, while prior unpaid dividends on non-cumulative preferred stock are forfeited. Participating preferred stock may be entitled to a dividend exceeding the issuer’s declared dividend in certain cases, while non-participating preferred stock is entitled only to the stipulated dividend. Preferred stock is subject to issuer-specific and market risks applicable generally to equity securities. As with debt securities, the prices and yields of preferred stocks often move with changes in interest rates and the issuer’s credit quality. Additionally, a company’s preferred stock typically pays dividends only after the company makes required payments to holders of its bonds and other debt. Accordingly, the price of preferred stock will usually react more strongly than bonds and other debt to actual or perceived changes in the issuing company’s financial condition or prospects. Preferred stock of smaller companies may be more vulnerable to adverse developments than preferred stock of larger companies.
Convertible securities — A convertible security is a debt obligation, preferred stock or other security that may be converted, within a specified period of time and at a stated conversion rate, into common stock or other equity securities of the same or a different issuer. The conversion may occur automatically upon the occurrence of a predetermined event or at the option of either the issuer or the security holder. Under certain circumstances, a convertible security may also be called for redemption or conversion by the issuer after a particular date and at predetermined price specified upon issue. If a convertible security held by the fund is called for redemption or conversion, the fund could be required to tender the security for redemption, convert it into the underlying common stock, or sell it to a third party.
The holder of a convertible security is generally entitled to participate in the capital appreciation resulting from a market price increase in the issuer’s common stock and to receive interest paid or accrued until the convertible security matures or is redeemed, converted or exchanged. Before conversion, convertible securities have characteristics similar to non-convertible debt or preferred securities, as applicable. Convertible securities rank senior to common stock in an issuer’s capital structure and, therefore, normally entail less risk than the issuer’s common stock. However, convertible securities may also be subordinate to any senior debt obligations of the issuer, and, therefore, an issuer’s convertible securities may entail more risk than such senior debt obligations. Convertible securities usually offer lower interest or dividend yields than non-convertible debt securities of similar credit quality because of the potential for capital appreciation. In addition, convertible securities are often lower-rated securities.
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Because of the conversion feature, the price of a convertible security will normally fluctuate in some proportion to changes in the price of the underlying asset, and, accordingly, convertible securities are subject to risks relating to the activities of the issuer and/or general market and economic conditions. The income component of a convertible security may cushion the security against declines in the price of the underlying asset but may also cause the price of the security to fluctuate based upon changes in interest rates and the credit quality of the issuer. As with a straight fixed income security, the price of a convertible security tends to increase when interest rates decline and decrease when interest rates rise. Like the price of a common stock, the price of a convertible security also tends to increase as the price of the underlying stock rises and to decrease as the price of the underlying stock declines.
Hybrid securities — A hybrid security is a type of security that also has equity and debt characteristics. Like equities, which have no final maturity, a hybrid security may be perpetual. On the other hand, like debt securities, a hybrid security may be callable at the option of the issuer on a date specified at issue. Additionally, like common equities, which may stop paying dividends at virtually any time without violating any contractual terms or conditions, hybrids typically allow for issuers to withhold payment of interest until a later date or to suspend coupon payments entirely without triggering an event of default. Hybrid securities are normally at the bottom of an issuer’s debt capital structure because holders of an issuer’s hybrid securities are structurally subordinated to the issuer’s senior creditors. In bankruptcy, hybrid security holders should only get paid after all senior creditors of the issuer have been paid but before any disbursements are made to the issuer’s equity holders. Accordingly, hybrid securities may be more sensitive to economic changes than more senior debt securities. Such securities may also be viewed as more equity-like by the market when the issuer or its parent company experiences financial difficulties.
Contingent convertible securities, which are also known as contingent capital securities, are a form of hybrid security that are intended to either convert into equity or have their principal written down upon the occurrence of certain trigger events. One type of contingent convertible security has characteristics designed to absorb losses, by providing that the liquidation value of the security may be adjusted downward to below the original par value or written off entirely under certain circumstances. For instance, if losses have eroded the issuer’s capital level below a specified threshold, the liquidation value of the security may be reduced in whole or in part. The write-down of the security’s par value may occur automatically and would not entitle holders to institute bankruptcy proceedings against the issuer. In addition, an automatic write-down could result in a reduced income rate if the dividend or interest payment associated with the security is based on the security’s par value. Such securities may, but are not required to, provide for circumstances under which the liquidation value of the security may be adjusted back up to par, such as an improvement in capitalization or earnings. Another type of contingent convertible security provides for mandatory conversion of the security into common shares of the issuer under certain circumstances. The mandatory conversion might relate, for example, to the issuer’s failure to maintain a capital minimum. Since the common stock of the issuer may not pay a dividend, investors in such instruments could experience reduced yields (or no yields at all) and conversion would deepen the subordination of the investor, effectively worsening the investor’s standing in the case of the issuer’s insolvency. An automatic write-down or conversion event with respect to a contingent convertible security will typically be triggered by a reduction in the issuer’s capital level, but may also be triggered by regulatory actions, such as a change in regulatory capital requirements, or by other factors.
Real estate investment trusts — Real estate investment trusts ("REITs"), which primarily invest in real estate or real estate-related loans, may issue equity or debt securities. Equity REITs own real estate properties, while mortgage REITs hold construction, development and/or long-term mortgage loans. The values of REITs may be affected by changes in the value of the underlying property of the trusts, the creditworthiness of the issuer, property taxes, interest rates, tax laws and regulatory requirements,
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such as those relating to the environment. Both types of REITs are dependent upon management skill and the cash flows generated by their holdings, the real estate market in general and the possibility of failing to qualify for any applicable pass-through tax treatment or failing to maintain any applicable exemptive status afforded under relevant laws.
Investing outside the United States — Securities of issuers domiciled outside the United States or with significant operations or revenues outside the United States, and securities tied economically to countries 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 are domiciled, operate or generate revenue or to which the securities are tied economically. These issuers may also be more susceptible to actions of foreign governments such as the imposition of price controls, sanctions, or punitive taxes that could adversely impact the value of these securities. To the extent the fund invests in securities that are denominated in currencies other than the U.S. dollar, 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. Securities markets in certain countries may be more volatile 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, auditing, financial reporting and recordkeeping 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, which could impact the liquidity of the fund’s portfolio. The risks of investing outside the United States may be heightened in connection with investments in emerging markets.
Additional costs could be incurred in connection with the fund’s investment activities outside the United States. Brokerage commissions may be higher outside the United States, and the fund will bear certain expenses in connection with its currency transactions. Furthermore, increased custodian costs may be associated with maintaining assets in certain jurisdictions.
Indirect exposure to cryptocurrencies – Cryptocurrencies are digital assets which may act as a store of wealth, a medium of exchange or an investment asset. There are thousands of cryptocurrencies, such as bitcoin. Although the fund has no current intention of directly investing in cryptocurrencies, some issuers accept cryptocurrency for payment of services, use cryptocurrencies as reserve assets and/or invest in cryptocurrencies, and the fund may have exposure to cryptocurrencies through investments in securities of such issuers. The fund may also invest in securities of issuers which provide cryptocurrency-related services.
Cryptocurrencies are subject to fluctuations in value. Cryptocurrencies are not backed by any government, corporation or other identified body. Rather, the value of a cryptocurrency is determined by other factors, such as the perceived future prospects or the supply and demand for such cryptocurrency in the global market for the trading of cryptocurrency. Cryptocurrencies may trade on platforms which are largely unregulated and may be more exposed to operational or technical issues as well as fraud or manipulation in comparison to established, regulated exchanges for securities, derivatives and traditional currencies. The values of cryptocurrencies have been, and may in the future continue to be, highly volatile and subject to sudden and significant increases and declines. The value of a cryptocurrency may decline precipitously (including to zero) for a variety of reasons, including, but not limited to, regulatory changes, a loss of confidence in its network or a change in user preference to other cryptocurrencies. The value of securities of issuers with significant holdings of cryptocurrencies may be subject to, among other things, fluctuations in the value of such cryptocurrencies, and such issuers may experience custody issues and/or lose their cryptocurrency holdings through theft, hacking, or technical glitches in the applicable blockchain. The fund may experience losses as a result of the decline in value of its securities of issuers that own cryptocurrencies or which provide cryptocurrency-related services. If an issuer that owns cryptocurrencies intends to pay a dividend using
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such holdings or to otherwise make a distribution of such holdings to its stockholders, such dividends or distributions may face regulatory, operational and technical issues.
Factors affecting the further development, use, and exchange of cryptocurrency include, but are not limited to: continued worldwide growth of, or possible cessation of or reversal in, the adoption and use of cryptocurrencies and other digital assets; the developing regulatory environment relating to cryptocurrencies, including the characterization of cryptocurrencies as currencies, commodities, or securities, the tax treatment of cryptocurrencies, and government and quasi-government regulation or restrictions on, or regulation of access to and operation of, cryptocurrency networks and the exchanges on which cryptocurrencies trade, including anti-money laundering regulations and requirements; perceptions regarding the environmental impact of a cryptocurrency; changes in consumer demographics and public preferences; general economic conditions; maintenance and development of open-source software protocols; the availability and popularity of other forms or methods of buying and selling goods and services; the use of the networks supporting digital assets, such as those for developing smart contracts and distributed applications; and general risks tied to the use of information technologies, including cyber risks. A hack or failure of one cryptocurrency may lead to a loss in confidence in, and thus decreased usage and/or value of, other cryptocurrencies.
Obligations backed by the “full faith and credit” of the U.S. government — U.S. government obligations include the following types of securities:
U.S. Treasury securities — U.S. Treasury securities include direct obligations of the U.S. Treasury, such as Treasury bills, notes and bonds. For these securities, the payment of principal and interest is unconditionally guaranteed by the U.S. government, and thus they are of high credit quality.
Federal agency securities — The securities of certain U.S. government agencies and government-sponsored entities are guaranteed as to the timely payment of principal and interest by the full faith and credit of the U.S. government. Such agencies and entities include, but are not limited to, the Federal Financing Bank (“FFB”), the Government National Mortgage Association (“Ginnie Mae”), the U.S. Department of Veterans Affairs (“VA”), the Federal Housing Administration (“FHA”), the Export-Import Bank of the United States (“Exim Bank”), the U.S. International Development Finance Corporation (“DFC”), the Commodity Credit Corporation (“CCC”) and the U.S. Small Business Administration (“SBA”).
Such securities are subject to variations in market value due to fluctuations in interest rates and in government policies, among other things, but, if held to maturity, are expected to be paid in full (either at maturity or thereafter). However, from time to time, a high national debt level, and uncertainty regarding negotiations to increase the U.S. government’s debt ceiling and periodic legislation to fund the government, could increase the risk that the U.S. government may default on its obligations and/or lead to a downgrade of the credit rating of the U.S. government. Such an event could adversely affect the value of investments in securities backed by the full faith and credit of the U.S. government, cause the fund to suffer losses and lead to significant disruptions in U.S. and global markets. Regulatory or market changes or conditions could increase demand for U.S. government securities and affect the availability of such instruments for investment and the fund's ability to pursue its investment strategies.
Other federal agency obligations — Additional federal agency securities are neither direct obligations of, nor guaranteed by, the U.S. government. These obligations include securities issued by certain U.S. government agencies and government-sponsored entities. However, they generally involve some form of federal sponsorship: some operate under a congressional charter; some are backed by collateral consisting of “full faith and credit” obligations as described above; some are supported by the issuer’s right to borrow from the Treasury; and others are supported only by the credit of the issuing government agency or entity. These agencies and entities include, but are not limited to: the Federal
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Home Loan Banks, the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”), the Tennessee Valley Authority and the Federal Farm Credit Bank System.
In 2008, Freddie Mac and Fannie Mae were placed into conservatorship by their new regulator, the Federal Housing Finance Agency (“FHFA”). Simultaneously, the U.S. Treasury made a commitment of indefinite duration to maintain the positive net worth of both firms. As conservator, the FHFA has the authority to repudiate any contract either firm has entered into prior to the FHFA’s appointment as conservator (or receiver should either firm go into default) if the FHFA, in its sole discretion determines that performance of the contract is burdensome and repudiation would promote the orderly administration of Fannie Mae’s or Freddie Mac’s affairs. While the FHFA has indicated that it does not intend to repudiate the guaranty obligations of either entity, doing so could adversely affect holders of their mortgage-backed securities. For example, if a contract were repudiated, the liability for any direct compensatory damages would accrue to the entity’s conservatorship estate and could only be satisfied to the extent the estate had available assets. As a result, if interest payments on Fannie Mae or Freddie Mac mortgage-backed securities held by the fund were reduced because underlying borrowers failed to make payments or such payments were not advanced by a loan servicer, the fund’s only recourse might be against the conservatorship estate, which might not have sufficient assets to offset any shortfalls.
The FHFA, in its capacity as conservator, has the power to transfer or sell any asset or liability of Fannie Mae or Freddie Mac. The FHFA has indicated it has no current intention to do this; however, should it do so a holder of a Fannie Mae or Freddie Mac mortgage-backed security would have to rely on another party for satisfaction of the guaranty obligations and would be exposed to the credit risk of that party.
Certain rights provided to holders of mortgage-backed securities issued by Fannie Mae or Freddie Mac under their operative documents may not be enforceable against the FHFA, or enforcement may be delayed during the course of the conservatorship or any future receivership. For example, the operative documents may provide that upon the occurrence of an event of default by Fannie Mae or Freddie Mac, holders of a requisite percentage of the mortgage-backed security may replace the entity as trustee. However, under the Federal Housing Finance Regulatory Reform Act of 2008, holders may not enforce this right if the event of default arises solely because a conservator or receiver has been appointed.
Investing in smaller capitalization stocks — The fund may invest in the stocks of smaller capitalization companies. Investing in smaller capitalization stocks can involve greater risk than is customarily associated with investing in stocks of larger, more established companies. For example, smaller companies often have limited product lines, limited operating histories, limited markets or financial resources, may be dependent on one or a few key persons for management and can be more susceptible to losses. Also, their securities may be less liquid or illiquid (and therefore have to be sold at a discount from current prices or sold in small lots over an extended period of time), may be followed by fewer investment research analysts and may be subject to wider price swings, thus creating a greater chance of loss than securities of larger capitalization companies.
Depositary receipts — Depositary receipts are securities that evidence ownership interests in, and represent the right to receive, a security or a pool of securities that have been deposited with a bank or trust depository. The fund may invest in American Depositary Receipts (“ADRs”), European Depositary Receipts (“EDRs”), Global Depositary Receipts (“GDRs”), and other similar securities. For ADRs, the depository is typically a U.S. financial institution and the underlying securities are issued by a non-U.S. entity. For other depositary receipts, the depository may be a non-U.S. or a U.S. entity, and the underlying securities may be issued by a non-U.S. or a U.S. entity. Depositary receipts will not necessarily be denominated in the same currency as their underlying securities. Generally, ADRs are issued in registered form, denominated in U.S. dollars, and designed for use in the U.S. securities
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markets. Other depositary receipts, such as EDRs and GDRs, may be issued in bearer form, may be denominated in either U.S. dollars or in non-U.S. currencies, and are primarily designed for use in securities markets outside the United States. ADRs, EDRs and GDRs can be sponsored by the issuing bank or trust company or the issuer of the underlying securities. Although the issuing bank or trust company may impose charges for the collection of dividends and the conversion of such securities into the underlying securities, generally no fees are imposed on the purchase or sale of these securities other than transaction fees ordinarily involved with trading stock. Such securities may be less liquid or may trade at a lower price than the underlying securities of the issuer. Additionally, the issuers of securities underlying depositary receipts may not be obligated to timely disclose information that is considered material under the securities laws of the United States. Therefore, less information may be available regarding these issuers than about the issuers of other securities and there may not be a correlation between such information and the market value of the depositary receipts.
Restricted or illiquid securities — The fund may purchase securities subject to restrictions on resale. Restricted securities may only be sold pursuant to an exemption from registration under the Securities Act of 1933, as amended (the “1933 Act”), or in a registered public offering. Where registration is required, the holder of a registered security may be obligated to pay all or part of the registration expense and a considerable period may elapse between the time it decides to seek registration and the time it may be permitted to sell a security under an effective registration statement. Difficulty in selling such securities may result in a loss to the fund or cause it to incur additional administrative costs.
Some fund holdings (including some restricted securities) may be deemed illiquid if the fund expects that a reasonable portion of the holding cannot be sold in seven calendar days or less without the sale significantly changing the market value of the investment. The determination of whether a holding is considered illiquid is made by the fund’s adviser under a liquidity risk management program adopted by the fund’s board and administered by the fund’s adviser. The fund may incur significant additional costs in disposing of illiquid securities.
Cash and cash equivalents — The fund may hold cash or invest in cash equivalents. Cash equivalents include, but are not limited to: (a) shares of money market or similar funds managed by the investment adviser or its affiliates; (b) shares of other money market funds; (c) commercial paper; (d) short-term bank obligations (for example, certificates of deposit, bankers’ acceptances (time drafts on a commercial bank where the bank accepts an irrevocable obligation to pay at maturity)) or bank notes; (e) savings association and savings bank obligations (for example, bank notes and certificates of deposit issued by savings banks or savings associations); (f) securities of the U.S. government, its agencies or instrumentalities that mature, or that may be redeemed, in one year or less; and (g) higher quality corporate bonds and notes that mature, or that may be redeemed, in one year or less.
Commercial paper — The fund may purchase commercial paper. Commercial paper refers to short-term promissory notes issued by a corporation to finance its current operations. Such securities normally have maturities of thirteen months or less and, though commercial paper is often unsecured, commercial paper may be supported by letters of credit, surety bonds or other forms of collateral. Maturing commercial paper issuances are usually repaid by the issuer from the proceeds of new commercial paper issuances. As a result, investment in commercial paper is subject to rollover risk, or the risk that the issuer cannot issue enough new commercial paper to satisfy its outstanding commercial paper. Like all fixed income securities, commercial paper prices are susceptible to fluctuations in interest rates. If interest rates rise, commercial paper prices will decline and vice versa. However, the short-term nature of a commercial paper investment makes it less susceptible to volatility than many other fixed income securities because interest rate risk typically increases as maturity lengths increase. Commercial paper tends to yield smaller returns than longer-term corporate debt because securities with shorter maturities typically have lower effective yields than those with longer maturities. As with all fixed income securities, there is a chance that the issuer will default on its
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commercial paper obligations and commercial paper may become illiquid or suffer from reduced liquidity in these or other situations.
Commercial paper in which the fund may invest includes commercial paper issued in reliance on the exemption from registration afforded by Section 4(a)(2) of the Securities Act of 1933, as amended (the “1933 Act”). Section 4(a)(2) commercial paper has substantially the same price and liquidity characteristics as commercial paper generally, except that the resale of Section 4(a)(2) commercial paper is limited to institutional investors who agree that they are purchasing the paper for investment purposes and not with a view to public distribution. Technically, such a restriction on resale renders Section 4(a)(2) commercial paper a restricted security under the 1933 Act. In practice, however, Section 4(a)(2) commercial paper typically can be resold as easily as any other unrestricted security held by the fund. Accordingly, Section 4(a)(2) commercial paper has been generally determined to be liquid under procedures adopted by the fund’s board of trustees.
Cybersecurity risks — With the increased use of technologies such as the Internet to conduct business, the fund has become potentially more susceptible to operational and information security risks through breaches in cybersecurity. In general, a breach in cybersecurity can result from either a deliberate attack or an unintentional event. Cybersecurity breaches may involve, among other things, “ransomware” attacks, injection of computer viruses or malicious software code, or the use of vulnerabilities in code to gain unauthorized access to digital information systems, networks or devices that are used directly or indirectly by the fund or its service providers through “hacking” or other means. Cybersecurity risks also include the risk of losses of service resulting from external attacks that do not require unauthorized access to the fund’s systems, networks or devices. For example, denial-of-service attacks on the investment adviser’s or an affiliate’s website could effectively render the fund’s network services unavailable to fund shareholders and other intended end-users. Any such cybersecurity breaches or losses of service may, among other things, cause the fund to lose proprietary information, suffer data corruption or lose operational capacity, or may result in the misappropriation, unauthorized release or other misuse of the fund’s assets or sensitive information (including shareholder personal information or other confidential information), the inability of fund shareholders to transact business, or the destruction of the fund’s physical infrastructure, equipment or operating systems. These, in turn, could cause the fund to violate applicable privacy and other laws and incur or suffer regulatory penalties, reputational damage, additional costs (including compliance costs) associated with corrective measures and/or financial loss. While the fund and its investment adviser have established business continuity plans and risk management systems designed to prevent or reduce the impact of cybersecurity attacks, there are inherent limitations in such plans and systems due in part to the ever-changing nature of technology and cybersecurity attack tactics, and there is a possibility that certain risks have not been adequately identified or prepared for.
In addition, cybersecurity failures by or breaches of the fund’s third-party service providers (including, but not limited to, the fund’s investment adviser, transfer agent, custodian, administrators and other financial intermediaries) may disrupt the business operations of the service providers and of the fund, potentially resulting in financial losses, the inability of fund shareholders to transact business with the fund and of the fund to process transactions, the inability of the fund to calculate its net asset value, violations of applicable privacy and other laws, rules and regulations, regulatory fines, penalties, reputational damage, reimbursement or other compensatory costs and/or additional compliance costs associated with implementation of any corrective measures. The fund and its shareholders could be negatively impacted as a result of any such cybersecurity breaches, and there can be no assurance that the fund will not suffer losses relating to cybersecurity attacks or other informational security breaches affecting the fund’s third-party service providers in the future, particularly as the fund cannot control any cybersecurity plans or systems implemented by such service providers.
Cybersecurity risks may also impact issuers of securities in which the fund invests, which may cause the fund’s investments in such issuers to lose value.
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Derivatives — In pursuing its investment objective(s), the fund may invest in derivative instruments. A derivative is a financial instrument, the value of which depends on, or is otherwise derived from, another underlying variable. Most often, the variable underlying a derivative is the price of a traded asset, such as a traditional cash security (e.g., a stock or bond), a currency or a commodity; however, the value of a derivative can be dependent on almost any variable, from the level of an index or a specified rate to the occurrence (or non-occurrence) of a credit event with respect to a specified reference asset. The fund may take positions in futures contracts, which is a derivative instrument described in greater detail below.
Derivative instruments may be distinguished by the manner in which they trade: some are standardized instruments that trade on an organized exchange while others are individually negotiated and traded in the over-the-counter (“OTC”) market. Derivatives also range broadly in complexity, from simple derivatives to more complex instruments. As a general matter, however, all derivatives — regardless of the manner in which they trade or their relative complexities — entail certain risks, some of which are different from, and potentially greater than, the risks associated with investing directly in traditional cash securities.
As is the case with traditional cash securities, derivative instruments are generally subject to counterparty credit risk; however, in some cases, derivatives may pose counterparty risks greater than those posed by cash securities. The use of derivatives involves the risk that a loss may be sustained by the fund as a result of the failure of the fund’s counterparty to make required payments or otherwise to comply with its contractual obligations. For some derivatives, though, the value of — and, in effect, the return on — the instrument may be dependent on both the individual credit of the fund’s counterparty and on the credit of one or more issuers of any underlying assets. If the fund does not correctly evaluate the creditworthiness of its counterparty and, where applicable, of issuers of any underlying reference assets, the fund’s investment in a derivative instrument may result in losses. Further, if a fund’s counterparty were to default on its obligations, the fund’s contractual remedies against such counterparty may be subject to applicable bankruptcy and insolvency laws, which could affect the fund’s rights as a creditor and delay or impede the fund’s ability to receive the net amount of payments that it is contractually entitled to receive. Derivative instruments are subject to additional risks, including operational risk (such as documentation issues, settlement issues and systems failures) and legal risk (such as insufficient documentation, insufficient capacity or authority of a counterparty, and issues with the legality or enforceability of a contract).
The value of some derivative instruments in which the fund invests may be particularly sensitive to changes in prevailing interest rates, currency exchange rates or other market conditions. Like the fund’s other investments, the ability of the fund to successfully utilize such derivative instruments may depend in part upon the ability of the fund’s investment adviser to accurately forecast market and economic factors (such as interest rates). The success of the fund’s derivative investment strategy will also depend on the investment adviser’s ability to assess and predict the impact of market or economic developments on the derivative instruments in which the fund invests, in some cases without having had the benefit of observing the performance of a derivative under all possible market conditions. If the investment adviser incorrectly forecasts such factors and has taken positions in derivative instruments contrary to prevailing market trends, or if the investment adviser incorrectly predicts the impact of developments on a derivative instrument, the fund could suffer losses.
Certain derivatives may also be subject to liquidity and valuation risks. The potential lack of a liquid secondary market for a derivative may cause difficulty in valuing or selling the instrument. If a derivative transaction is particularly large or if the relevant market is illiquid, the fund may not be able to initiate a transaction or to liquidate a position at an advantageous time or price. Particularly when there is no liquid secondary market for the fund’s derivative positions, the fund may encounter difficulty in valuing such illiquid positions. The value of a derivative instrument does not always correlate perfectly with its underlying asset, rate or index, and many derivatives are complex and often
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valued subjectively. Improper valuations can result in increased cash payment requirements to counterparties or a loss of value to the fund.
Because certain derivative instruments may obligate the fund to make one or more potential future payments, which could significantly exceed the value of the fund’s initial investments in such instruments, derivative instruments may also have a leveraging effect on the fund’s portfolio. Certain derivatives have the potential for unlimited loss, irrespective of the size of the fund’s investment in the instrument. When a fund leverages its portfolio, investments in that fund will tend to be more volatile, resulting in larger gains or losses in response to market changes.
The fund’s compliance with the SEC’s rule applicable to the fund’s use of derivatives may limit the ability of the fund to use derivatives as part of its investment strategy. The rule requires that a fund that uses derivatives in a limited manner, which is currently the case for the fund, limit its derivatives exposure to 10% of its net assets (as calculated in accordance the SEC rule) and adopt and implement written policies and procedures reasonably designed to manage its derivatives risks.
Futures — The fund may enter into futures contracts. A futures contract is an agreement to buy or sell a security or other financial instrument (the “reference asset”) for a set price on a future date. Futures contracts are standardized, exchange-traded contracts, and, when such contracts are bought or sold, the fund will incur brokerage fees and will be required to maintain margin deposits.
Unlike when the fund purchases or sells a security, such as a stock or bond, no price is paid or received by the fund upon the purchase or sale of a futures contract. When the fund enters into a futures contract, the fund is required to deposit with its futures broker, known as a futures commission merchant (“FCM”), a specified amount of liquid assets in a segregated account in the name of the FCM at the applicable derivatives clearinghouse or exchange. This amount, known as initial margin, is set by the futures exchange on which the contract is traded and may be significantly modified during the term of the contract. The initial margin is in the nature of a performance bond or good faith deposit on the futures contract, which is returned to the fund upon termination of the contract, assuming all contractual obligations have been satisfied. Additionally, on a daily basis, the fund pays or receives cash, or variation margin, equal to the daily change in value of the futures contract. Variation margin does not represent a borrowing or loan by the fund but is instead a settlement between the fund and the FCM of the amount one party would owe the other if the futures contract expired. In computing daily net asset value, the fund will mark-to-market its open futures positions. In the event of the bankruptcy or insolvency of an FCM that holds margin on behalf of the fund, the fund may be entitled to return of margin owed to it only in proportion to the amount received by the FCM’s other customers, potentially resulting in losses to the fund. An event of bankruptcy or insolvency at a clearinghouse or exchange holding initial margin could also result in losses for the fund.
When the fund invests in futures contracts and deposits margin with an FCM, the fund becomes subject to so-called “fellow customer” risk – that is, the risk that one or more customers of the FCM will default on their obligations and that the resulting losses will be so great that the FCM will default on its obligations and margin posted by one customer, such as the fund, will be used to cover a loss caused by a different defaulting customer. Applicable Commodity Futures Trading Commission (“CFTC”) rules generally prohibit the use of one customer’s funds to meet the obligations of another customer and limit the ability of an FCM to use margin posed by non-defaulting customers to satisfy losses caused by defaulting customers. As a general matter, an FCM is required to use its own funds to meet a defaulting customer’s obligations. While a customer’s loss would likely need to be substantial before non-defaulting customers would be exposed to loss on account of fellow customer risk, applicable CFTC rules nevertheless permit the commingling of margin and do not limit the mutualization
Washington Mutual Investors Fund — Page 12
of customer losses from investment losses, custodial failures, fraud or other causes. If the loss is so great that, notwithstanding the application of an FCM’s own funds, there is a shortfall in the amount of customer funds required to be held in segregation, the FCM could default and be placed into bankruptcy. Under these circumstances, bankruptcy law provides that non-defaulting customers will share pro rata in any shortfall. A shortfall in customer segregated funds may also make the transfer of the accounts of non-defaulting customers to another FCM more difficult.
Although certain futures contracts, by their terms, require actual future delivery of and payment for the reference asset, in practice, most futures contracts are usually closed out before the delivery date by offsetting purchases or sales of matching futures contracts. Closing out an open futures contract purchase or sale is effected by entering into an offsetting futures contract sale or purchase, respectively, for the same aggregate amount of the identical reference asset and the same delivery date. If the offsetting purchase price is less than the original sale price (in each case taking into account transaction costs, including brokerage fees), the fund realizes a gain; if it is more, the fund realizes a loss. Conversely, if the offsetting sale price is more than the original purchase price (in each case taking into account transaction costs, including brokerage fees), the fund realizes a gain; if it is less, the fund realizes a loss.
The value of a futures contract tends to increase and decrease in tandem with the value of its underlying reference asset. Purchasing futures contracts will, therefore, tend to increase the fund’s exposure to positive and negative price fluctuations in the reference asset, much as if the fund had purchased the reference asset directly. When the fund sells a futures contract, by contrast, the value of its futures position will tend to move in a direction contrary to the market for the reference asset. Accordingly, selling futures contracts will tend to offset both positive and negative market price changes, much as if the reference asset had been sold.
There is no assurance that a liquid market will exist for any particular futures contract at any particular time. Futures exchanges may establish daily price fluctuation limits for futures contracts and may halt trading if a contract’s price moves upward or downward more than the limit in a given day. On volatile trading days, when the price fluctuation limit is reached and a trading halt is imposed, it may be impossible to enter into new positions or close out existing positions. If the market for a futures contract is not liquid because of price fluctuation limits or other market conditions, the fund may be prevented from promptly liquidating unfavorable futures positions and the fund could be required to continue to hold a position until delivery or expiration regardless of changes in its value, potentially subjecting the fund to substantial losses. Additionally, the fund may not be able to take other actions or enter into other transactions to limit or reduce its exposure to the position. Under such circumstances, the fund would remain obligated to meet margin requirements until the position is cleared. As a result, the fund’s access to other assets posted as margin for its futures positions could also be impaired.
Although futures exchanges generally operate similarly in the United States and abroad, foreign futures exchanges may follow trading, settlement and margin procedures that are different than those followed by futures exchanges in the United States. Futures contracts traded outside the United States may not involve a clearing mechanism or related guarantees and may involve greater risk of loss than U.S.-traded contracts, including potentially greater risk of losses due to insolvency of a futures broker, exchange member, or other party that may owe initial or variation margin to the fund. Margin requirements on foreign futures exchanges may be different than those of futures exchanges in the United States, and, because initial and variation margin payments may be measured in foreign currency, a futures contract traded outside the United States may also involve the risk of foreign currency fluctuations.
Washington Mutual Investors Fund — Page 13
Inflation/Deflation risk — The fund may be subject to inflation and deflation risk. Inflation risk is the risk that the present value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the fund‘s assets can decline. Deflation risk is the risk that prices throughout the economy decline over time. Deflation or inflation may have an adverse effect on the creditworthiness of issuers and may make issuer default more likely, which may result in a decline in the value of the fund‘s assets.
Interfund borrowing and lending — Pursuant to an exemptive order issued by the U.S. Securities and Exchange Commission, the fund may lend money to, and borrow money from, other funds advised by Capital Research and Management Company or its affiliates. The fund will borrow through the program only when the costs are equal to or lower than the costs of bank loans. The fund will lend through the program only when the returns are higher than those available from an investment in repurchase agreements. Interfund loans and borrowings normally extend overnight, but can have a maximum duration of seven days. Loans may be called on one day's notice. The fund may have to borrow from a bank at a higher interest rate if an interfund loan is called or not renewed. Any delay in repayment to a lending fund could result in a lost investment opportunity or additional borrowing costs.
Affiliated investment companies — The fund may purchase shares of certain other investment companies managed by the investment adviser or its affiliates (“Central Funds”). The risks of owning another investment company are similar to the risks of investing directly in the securities in which that investment company invests. Investments in other investment companies could allow the fund to obtain the benefits of a more diversified portfolio than might otherwise be available through direct investments in a particular asset class, and will subject the fund to the risks associated with the particular asset class or asset classes in which an underlying fund invests. However, an investment company may not achieve its investment objective or execute its investment strategy effectively, which may adversely affect the fund’s performance. Any investment in another investment company will be consistent with the fund’s objective(s) and applicable regulatory limitations. Central Funds do not charge management fees. As a result, the fund does not bear additional management fees when investing in Central Funds, but the fund does bear its proportionate share of Central Fund expenses.
Securities lending activities – The fund may lend portfolio securities to brokers, dealers or other institutions that provide cash or U.S. Treasury securities as collateral in an amount at least equal to the value of the securities loaned. While portfolio securities are on loan, the fund will continue to receive the equivalent of the interest and the dividends or other distributions paid by the issuer on the securities, as well as a portion of the interest on the investment of the collateral. Additionally, although the fund will not have the right to vote on securities while they are on loan, the fund has a right to consent on corporate actions and a right to recall each loan to vote on proposals, including proposals involving material events affecting securities loaned. The fund has delegated the decision to lend portfolio securities to the investment adviser. The adviser also has the discretion to consent on corporate actions and to recall securities on loan to vote. In the event the adviser deems a corporate action or proxy vote material, as determined by the adviser based on factors relevant to the fund, it will use reasonable efforts to recall the securities and consent to or vote on the matter.
Securities lending involves risks, including the risk that the loaned securities may not be returned in a timely manner or at all, which would interfere with the fund’s ability to vote proxies or settle transactions, and/or the risk of a counterparty default. Additionally, the fund may lose money from the reinvestment of collateral received on loaned securities in investments that decline in value, default or do not perform as expected. The fund will make loans only to parties deemed by the fund’s adviser to be in good standing and when, in the adviser’s judgment, the income earned would justify the risks.
JPMorgan Chase Bank, N.A. (“JPMorgan”) serves as securities lending agent for the fund. As the securities lending agent, JPMorgan administers the fund’s securities lending program pursuant to the terms of a securities lending agent agreement entered into between the fund and JPMorgan. Under
Washington Mutual Investors Fund — Page 14
the terms of the agreement, JPMorgan is responsible for making available to approved borrowers securities from the fund’s portfolio. JPMorgan is also responsible for the administration and management of the fund’s securities lending program, including the preparation and execution of an agreement with each borrower governing the terms and conditions of any securities loan, ensuring that securities loans are properly coordinated and documented, ensuring that loaned securities are valued daily and that the corresponding required collateral is delivered by the borrowers, arranging for the investment of collateral received from borrowers, and arranging for the return of loaned securities to the fund in accordance with the fund’s instructions or at loan termination. As compensation for its services, JPMorgan receives a portion of the amount earned by the fund for lending securities.
The following table sets forth, for the fund’s most recently completed fiscal year, the fund’s dollar amount of income and fees and/or other compensation related to its securities lending activities. Net income from securities lending activities may differ from the amount reported in the fund’s Form N-CSR, which reflects estimated accruals.
|
Gross income from securities lending activities |
$9,498,000 |
|
Fees paid to securities lending agent from a revenue split |
129,000 |
|
Fees paid for any cash collateral management service (including fees deducted from a pooled cash collateral reinvestment vehicle) not included in the revenue split |
0 |
|
Administrative fees not included in the revenue split |
0 |
|
Indemnification fees not included in the revenue split |
0 |
|
Rebates (paid to borrower) |
6,915,000 |
|
Other fees not included in the revenue split |
0 |
|
Aggregate fees/compensation for securities lending activities |
7,044,000 |
|
Net income from securities lending activities |
2,454,000 |
* * * * * *
Portfolio turnover — The fund’s portfolio turnover rates for the fiscal years ended April 30, 2026 and 2025 were 32% and 29%, respectively. Variations in turnover rates are due to changes in trading activity during the period. The portfolio turnover rate would equal 100% if each security in a fund’s portfolio were replaced once per year.
With the fund’s focus on long-term investing, the fund does not typically engage in high portfolio turnover (100% or more). High turnover generates greater transaction costs in the form of dealer spreads or brokerage commissions. It may also result in the realization of excessive short-term capital gains, which are taxable at the highest rate when distributed to shareholders, unless the shareholder is exempt from taxation or his or her account is tax-favored. Short-term trading profits are not the fund’s objective, and changes in its investments are generally accomplished gradually, though short-term transactions may occasionally be made.
Washington Mutual Investors Fund — Page 15
The fund and its investment policies — The fund has Investment Standards based upon criteria originally established by the United States District Court for the District of Columbia for determining the eligibility of securities under the Court’s Legal List procedure which was in effect for many years. The fund has an Eligible List of securities based upon its Investment Standards. The fund’s Investment Standards encompass numerous criteria that govern which securities may be included on the fund’s Eligible List. Currently, those criteria include, for example: (a) a security shall be listed on the New York Stock Exchange (“NYSE”) or meet the financial listing requirements of the NYSE (the applicable listing requirements are set forth in Section 1 of the Listed Company Manual of the NYSE); (b) most companies must have fully earned their dividends in at least four of the past five years (with the exception of certain banking institutions) and paid a dividend in at least eight of the past ten years; (c) issuing companies must meet both initial and ongoing market capitalization requirements; and (d) the ratio of current assets to liabilities for most individual companies must be at least 1.5 to 1, or their bonds must be rated at least investment grade by S&P Global Ratings.
Although the fund generally invests in U.S. companies, the fund may invest up to 10% of its assets in securities of issuers outside the United States if they meet the fund’s Investment Standards, including certain requirements designed specifically for securities of issuers outside the United States. Among other things, the Investment Standards require that any such security must have an economic nexus to the U.S. Companies that are included in the S&P 500 Index do not count towards this 10% limit. This Index may, from time to time, include a few companies whose domiciles are outside the United States. The fund may also hold securities of companies domiciled outside the United States when such companies have merged with or otherwise acquired a company in which the fund held shares at the time of the merger.
The Investment Standards are periodically reviewed by the fund’s board of trustees and investment adviser. Although the Investment Standards are not changed frequently, modifications may be made, with the approval of the fund’s board of trustees, as a result of economic, market or corporate developments. The investment adviser generates and maintains the Eligible List in compliance with the fund’s Investment Standards and selects the fund’s investments exclusively from the securities on the Eligible List.
It is believed that in applying the above disciplines and procedures, the fund makes available to pension and profit-sharing trustees and other fiduciaries a prudent stock investment and a continuity of investment quality which it has always been the policy of the fund to provide. However, fiduciary investment responsibility and the Prudent Investor Rule, pursuant to which a fiduciary is generally required to invest and manage trust assets as a prudent investor would, involve a mixed question of law and fact which cannot be conclusively determined in advance. Moreover, recent changes to the Prudent Investor Rule in some jurisdictions speak to an allocation of funds among a variety of investments. Therefore, each fiduciary should examine the common stock portfolio of the fund to see that it, along with other investments, meets the requirements of the specific trust.
Washington Mutual Investors Fund — Page 16
Fund policies
All percentage limitations in the following fund policies are considered at the time securities are purchased and are based on the fund’s net assets (excluding, for the avoidance of doubt, collateral held in connection with securities lending activities) unless otherwise indicated. None of the following policies involving a maximum percentage of assets will be considered violated unless the excess occurs immediately after, and is caused by, an acquisition by the fund. In managing the fund, the fund’s investment adviser may apply more restrictive policies than those listed below.
Fundamental policies — The fund has adopted the following policies, which may not be changed without approval by holders of a majority of its outstanding shares. Such majority is currently defined in the Investment Company Act of 1940, as amended (the “1940 Act”), as the vote of the lesser of (a) 67% or more of the voting securities present at a shareholder meeting, if the holders of more than 50% of the outstanding voting securities are present in person or by proxy, or (b) more than 50% of the outstanding voting securities.
1. Except as permitted by (i) the 1940 Act and the rules and regulations thereunder, or other successor law governing the regulation of registered investment companies, or interpretations or modifications thereof by the U.S. Securities and Exchange Commission (“SEC”), SEC staff or other authority of competent jurisdiction, or (ii) exemptive or other relief or permission from the SEC, SEC staff or other authority of competent jurisdiction, the fund may not:
a. Borrow money;
b. Issue senior securities;
c. Underwrite the securities of other issuers;
d. Purchase or sell real estate or commodities;
e. Make loans; or
f. Purchase the securities of any issuer if, as a result of such purchase, the fund’s investments would be concentrated in any particular industry.
2. The fund may not invest in companies for the purpose of exercising control or management.
3. The fund may not invest more than 5% of net assets in money market instruments, after allowing for sales of portfolio securities and fund shares within 30 days and the accumulation of cash balances representing undistributed net investment income and realized capital gains, in order to maintain a fully invested portfolio.
Nonfundamental policies — The following policy may be changed without shareholder approval:
The fund may not acquire securities of open-end investment companies or unit investment trusts registered under the 1940 Act in reliance on Sections 12(d)(1)(F) or 12(d)(1)(G) of the 1940 Act.
Washington Mutual Investors Fund — Page 17
Additional information about the fund‘s policies — The information below is not part of the fund’s fundamental or nonfundamental policies. This information is intended to provide a summary of what is currently required or permitted by the 1940 Act and the rules and regulations thereunder, or by the interpretive guidance thereof by the SEC or SEC staff, for particular fundamental policies of the fund. Information is also provided regarding the fund’s current intention with respect to certain investment practices permitted by the 1940 Act.
For purposes of fundamental policy 1a, the fund may borrow money in amounts of up to 33-1/3% of its total assets from banks for any purpose. Additionally, the fund may borrow up to 5% of its total assets from banks or other lenders for temporary purposes (a loan is presumed to be for temporary purposes if it is repaid within 60 days and is not extended or renewed). The percentage limitations in this policy are considered at the time of borrowing and thereafter.
For purposes of fundamental policies 1a and 1e, the fund may borrow money from, or loan money to, other funds managed by Capital Research and Management Company or its affiliates to the extent permitted by applicable law and an exemptive order issued by the SEC.
For purposes of fundamental policy 1b, a senior security does not include any promissory note or evidence of indebtedness if such loan is for temporary purposes only and in an amount not exceeding 5% of the value of the total assets of the fund at the time the loan is made (a loan is presumed to be for temporary purposes if it is repaid within 60 days and is not extended or renewed). Further, the fund is permitted to enter into derivatives and certain other transactions, notwithstanding the prohibitions and restrictions on the issuance of senior securities under the 1940 Act, in accordance with current SEC rules and interpretations.
For purposes of fundamental policy 1c, the policy will not apply to the fund to the extent the fund may be deemed an underwriter within the meaning of the 1933 Act in connection with the purchase and sale of fund portfolio securities in the ordinary course of pursuing its investment objective(s) and strategies.
For purposes of fundamental policy 1e, the fund may not lend more than 33-1/3% of its total assets, provided that this limitation shall not apply to the fund’s purchase of debt obligations.
For purposes of fundamental policy 1f, the fund may not invest more than 25% of its total assets in the securities of issuers in a particular industry. This policy does not apply to investments in securities of the U.S. government, its agencies or U.S. government sponsored enterprises or repurchase agreements with respect thereto.
For purposes of fundamental policy 3, money market instruments include one or more money market or similar funds managed by the investment adviser or its affiliates.
Washington Mutual Investors Fund — Page 18
Management of the fund
Board of trustees and officers
Independent trustees1
The fund’s nominating and governance committee and board select independent trustees with a view toward constituting a board that, as a body, possesses the qualifications, skills, attributes and experience to appropriately oversee the actions of the fund’s service providers, decide upon matters of general policy and represent the long-term interests of fund shareholders. In doing so, they consider the qualifications, skills, attributes and experience of the current board members, with a view toward maintaining a board that is diverse in viewpoint, experience, education and skills.
The fund seeks independent trustees who have high ethical standards and the highest levels of integrity and commitment, who have inquiring and independent minds, mature judgment, good communication skills, and other complementary personal qualifications and skills that enable them to function effectively in the context of the fund’s board and committee structure and who have the ability and willingness to dedicate sufficient time to effectively fulfill their duties and responsibilities.
Each independent trustee has a significant record of accomplishments in governance, business, not-for-profit organizations, government service, academia, law, accounting or other professions. Although no single list could identify all experience upon which the fund’s independent trustees draw in connection with their service, the following table summarizes key experience for each independent trustee. These references to the qualifications, attributes and skills of the trustees are pursuant to the disclosure requirements of the SEC, and shall not be deemed to impose any greater responsibility or liability on any trustee or the board as a whole. Notwithstanding the accomplishments listed below, none of the independent trustees is considered an “expert” within the meaning of the federal securities laws with respect to information in the fund’s registration statement.
Washington Mutual Investors Fund — Page 19
|
Name, year of birth and position with fund (year first elected as a trustee2) |
Principal
occupation(s) |
Number
of |
Other
directorships4 held |
Other relevant experience |
|
Gina
F. Adams, 1958 |
Executive Vice President, General Counsel and Secretary, FedEx Corporation (transportation/logistics company) |
53 |
Entergy Corporation |
· Board service for educational, arts and other nonprofit organizations · LLM, JD |
|
Charles
E. Andrews, 1952 |
Business advisor and corporate board member; former Board Member and Advisor, MorganFranklin Consulting (business consulting and technology solutions) |
16 |
Marriott Vacations Worldwide Corporation; NVR, Inc.; Trustar Bank |
· Service as chief executive officer · Service as chief financial officer · Corporate board experience · Chartered Global Management Accountant · Service on boards of community and nonprofit organizations · Certified public accountant |
|
Joseph
J. Bonner, 1955 |
President and CEO, Solana Beach Capital LLC (real estate advisory); Global Head of Real Estate, Board Member, The Interlink Group (private merchant bank) |
16 |
Extra Space Storage |
· Advisory board service for real estate investment management firm · Board service for educational and nonprofit organizations · MBA · MS, Civil Engineering, BArch, Architecture |
|
Michael
C. Camuñez, 1969 |
President and CEO, Monarch Global Strategies LLC |
16 |
Edison International/Southern California Edison |
· Senior management experience · Former Special Counsel to the President, The White House · Service on advisory and trustee boards for charitable, educational and nonprofit organizations · Corporate board experience · JD |
Washington Mutual Investors Fund — Page 20
|
Name, year of birth and position with fund (year first elected as a trustee2) |
Principal
occupation(s) |
Number
of |
Other
directorships4 held |
Other relevant experience |
|
Vanessa
C. L. Chang, 1952 |
Former Director, EL & EL Investments (real estate) |
93 |
Transocean Ltd. (offshore drilling contractor) Former director of Sykes Enterprises (outsourced customer engagement service provider) (until 2021); Edison International/Southern California Edison (until 2025) |
· Service as a chief executive officer, insurance-related (claims/dispute resolution) internet company · Senior management experience, investment banking · Former partner, public accounting firm · Corporate board experience · Service on advisory and trustee boards for charitable, educational and nonprofit organizations · Former member of the Governing Council of the Independent Directors Council · CPA (inactive) |
|
Cecilia
V. Estolano, 1966 |
Founder and CEO of Estolano Advisors (urban planning and public policy consultancy); CEO of Better World Group (boutique environmental advocacy consultancy) |
16 |
None |
· Senior management experience for public policy, environmental, redevelopment and governmental agencies · Experience as land use and environmental lawyer · Board service for the arts, educational, public policy, urban planning, charitable and other nonprofit organizations · MA, Urban Planning; JD |
Washington Mutual Investors Fund — Page 21
|
Name, year of birth and position with fund (year first elected as a trustee2) |
Principal
occupation(s) |
Number
of |
Other
directorships4 held |
Other relevant experience |
|
Yvonne
L. Greenstreet, 1962 |
Chief Executive Officer, Alnylam Pharmaceuticals, Inc. |
16 |
Former director of Argenx (a global immunology company) (until 2022); Pacira, Inc. (pharmaceuticals) (until 2023) |
· Senior management experience in the global pharmaceutical and life sciences industries, including research and development, strategy and commercial development · Board service for philanthropic, educational and nonprofit organizations · MBA, MBChB |
|
Martin
E. Koehler, 1957 |
Independent management consultant |
53 |
None |
· Senior management experience · Corporate board experience · Service on advisory and trustee boards for charitable and nonprofit organizations · MBA · MS, industrial engineering |
|
Sharon
I. Meers, 1965 |
Co-Founder and President, Midi Health, Inc. (a women’s telehealth company) |
93 |
None |
· Service as head of strategic partnerships, ecommerce company · Experience in investment banking and senior management experience in business development, operations and investment management · Service on trustee boards for nonprofit organizations · MA, economics |
Washington Mutual Investors Fund — Page 22
|
Name, year of birth and position with fund (year first elected as a trustee2) |
Principal
occupation(s) |
Number
of |
Other
directorships4 held |
Other relevant experience |
|
Pascal
Millaire, 1983 |
Managing Director, Agathis Partners Inc.; former CEO and Director, CyberCube Analytics, Inc. (cyber risk software for insurers) |
16 |
None |
· Service as chief executive officer · Senior management experience · Corporate board experience · Service on advisory and trustee boards for charitable and nonprofit organizations · Global management consultant · Cybersecurity experience · MBA |
|
William
I. Miller, 1956 |
Former President, The Wallace Foundation |
16 |
Cummins, Inc. |
· Service as chief executive officer · Corporate board experience · Service on advisory and trustee boards for charitable, educational and nonprofit organizations · MBA |
|
Josette
Sheeran, 1954 |
Founder and CEO, Firefly Global Group (geopolitical and business consulting); former President, Canoo, Inc.; former President and CEO, Asia Society |
53 |
None |
· Service as chief executive officer · Senior management experience · Government service · Service on advisory councils and commissions for international and governmental organizations · Service on advisory and trustee boards for charitable and nonprofit organizations · Service as trustee for public and private entities |
Washington Mutual Investors Fund — Page 23
Interested trustee(s)5,6
Interested trustees have similar qualifications, skills and attributes as the independent trustees. Interested trustees are senior executive officers and/or directors of Capital Research and Management Company or its affiliates. Such management roles with the fund‘s service providers also permit the interested trustees to make a significant contribution to the fund’s board.
|
Name,
year of birth |
Principal
occupation(s) |
Number
of |
Other
directorships4 |
|
Bradford
F. Freer, 1969 |
Partner – Capital Research Global Investors, Capital Research and Management Company; Partner – Capital Research Global Investors, Capital Bank and Trust Company* |
16 |
None |
|
Anne-Marie
Peterson, 1972 |
Partner – Capital International Investors, Capital Research and Management Company |
16 |
None |
Other officers6
|
Name,
year of birth |
Principal
occupation(s) during the past five years |
Jin
Lee, 1969 |
Partner – Capital World Investors, Capital Research and Management Company |
Eric
H. Stern, 1964 |
Partner – Capital International Investors, Capital Research and Management Company; Partner – Capital International Investors, Capital Bank and Trust Company* |
Michael
W. Stockton, 1967 |
Senior Vice President – Legal and Compliance Group, Capital Research and Management Company |
Jennifer
L. Butler, 1966 |
Assistant Vice President – Legal and Compliance Group, Capital Research and Management Company |
Donald
H. Rolfe, 1972 |
Senior Vice President – Legal and Compliance Group, Capital Research and Management Company; Secretary, Capital Research and Management Company |
Michael
R. Tom, 1988 |
Associate – Legal and Compliance Group, Capital Research and Management Company |
Hong
T. Le, 1978 |
Vice President – Legal and Compliance Group, Capital Research and Management Company |
Washington Mutual Investors Fund — Page 24
|
Name,
year of birth |
Principal
occupation(s) during the past five years |
Marilyn
Paramo, 1982 |
Associate – Legal and Compliance Group, Capital Research and Management Company |
Sandra
Chuon, 1972 |
Vice President – Investment Operations, Capital Research and Management Company |
Mariah
L. Coria, 1984 |
Assistant Vice President – Legal and Compliance Group, Capital Research and Management Company |
* Company affiliated with Capital Research and Management Company.
1 The term independent trustee refers to a trustee who is not an “interested person” of the fund within the meaning of the 1940 Act.
2 Trustees and officers of the fund serve until their resignation, removal or retirement.
3 Funds managed by Capital Research and Management Company or its affiliates.
4 This includes all directorships/trusteeships (other than those in the American Funds or other funds managed by Capital Research and Management Company or its affiliates) that are held by each trustee as a director/trustee of a public company or a registered investment company. Unless otherwise noted, all directorships/trusteeships are current.
5 The term interested trustee refers to a trustee who is an “interested person” of the fund within the meaning of the 1940 Act, on the basis of his or her affiliation with the fund’s investment adviser, Capital Research and Management Company, or affiliated entities (including the fund’s principal underwriter).
6 All of the trustees and/or officers listed, with the exception of Jin Lee and Eric H. Stern, are officers and/or directors/trustees of one or more of the other funds for which Capital Research and Management Company serves as investment adviser.
The address for all trustees and officers of the fund is 6455 Irvine Center Drive, Irvine, California 92618, Attention: Secretary.
Washington Mutual Investors Fund — Page 25
Fund shares owned by trustees as of December 31, 2025:
|
Name |
Dollar
range1 |
Aggregate |
Dollar |
Aggregate |
|
Independent trustees | ||||
|
Gina F. Adams |
Over $100,000 |
Over $100,000 |
Over $100,000 |
Over $100,000 |
|
Charles E. Andrews |
Over $100,000 |
Over $100,000 |
Over $100,000 |
Over $100,000 |
|
Joseph J. Bonner |
None |
Over $100,000 |
N/A |
Over $100,000 |
|
Michael C. Camuñez |
None |
Over $100,000 |
$10,001 – $50,000 |
Over $100,000 |
|
Vanessa C. L. Chang |
None |
Over $100,000 |
N/A |
N/A |
|
Cecilia V. Estolano |
None |
Over $100,000 |
N/A |
N/A |
|
Yvonne L. Greenstreet |
None |
$10,001 – $50,000 |
N/A |
Over $100,000 |
|
Martin E. Koehler |
None |
Over $100,000 |
N/A |
Over $100,000 |
|
Sharon I. Meers |
None |
Over $100,000 |
N/A |
Over $100,000 |
|
Pascal Millaire |
$50,001 – $100,000 |
Over $100,000 |
N/A |
N/A |
|
William I. Miller |
Over $100,000 |
Over $100,000 |
N/A |
Over $100,000 |
|
Josette Sheeran |
None |
Over $100,000 |
$50,001 – $100,000 |
Over $100,000 |
Washington Mutual Investors Fund — Page 26
Name |
Dollar
range1 |
Aggregate |
Interested trustees | ||
Bradford F. Freer |
None |
Over $100,000 |
Anne-Marie Peterson |
Over $100,000 |
Over $100,000 |
1 Ownership disclosure is made using the following ranges: None; $1 – $10,000; $10,001 – $50,000; $50,001 – $100,000; and Over $100,000. The amounts listed for interested trustees include shares owned through The Capital Group Companies, Inc. retirement plan and/or 401(k) plan, as applicable.
2 N/A indicates that the listed individual, as of December 31, 2025, was not a trustee of the fund (or, as applicable, other funds in the same family of investment companies as the fund), did not allocate deferred compensation to the fund, or did not participate in the deferred compensation plan.
3 Eligible trustees may defer their compensation under a nonqualified deferred compensation plan. Amounts deferred by the trustee accumulate at an earnings rate determined by the total return of one or more American Funds as designated by the trustee.
Trustee compensation — No compensation is paid by the fund to any officer or trustee who is a trustee, officer or employee of the investment adviser or its affiliates. Except for the independent trustees listed in the “Board of trustees and officers — Independent trustees” table under the “Management of the fund” section in this statement of additional information, all other officers and trustees of the fund are directors, officers or employees of the investment adviser or its affiliates.
The board typically meets either individually or jointly with the boards of one or more other such funds with substantially overlapping board membership (in each case referred to as a “board cluster”). The fund typically pays each independent trustee an annual retainer fee based primarily on the total number of board clusters which that independent trustee serves. Board and committee chairs receive additional fees for their services.
The fund and the other funds served by each independent trustee each pay a portion of these fees.
No pension or retirement benefits are accrued as part of fund expenses. Generally, independent trustees may elect, on a voluntary basis, to defer all or a portion of their fees through a deferred compensation plan in effect for the fund. The fund also reimburses certain expenses of the independent trustees.
Washington Mutual Investors Fund — Page 27
Trustee compensation earned during the fiscal year ended April 30, 2026:
|
Name |
Aggregate
compensation |
Total
compensation (including |
|
Gina F. Adams2 |
$123,536 |
$382,000 |
|
Charles E. Andrews2 |
196,284 |
284,250 |
|
Joseph J. Bonner2 (elected January 1, 2026) |
12,300 |
287,250 |
|
Michael C. Camuñez2 |
120,792 |
357,000 |
|
Vanessa C.L. Chang (elected January 1, 2026) |
8,036 |
480,250 |
|
Cecilia V. Estolano (elected January 1, 2026) |
12,300 |
279,750 |
|
Nariman Farvardin2 (service ended December 31, 2025 |
114,000 |
536,500 |
|
Yvonne L. Greenstreet2 (elected January 1, 2026) |
12,300 |
279,750 |
|
Mary Davis Holt (retired December 31, 2025) |
115,500 |
324,000 |
|
Martin E. Koehler2 (elected January 1, 2026) |
8,774 |
385,000 |
|
Sharon I. Meers2 (elected January 1, 2026) |
8,036 |
405,250 |
|
Pascal Millaire (elected January 1, 2026) |
12,300 |
279,750 |
|
William I. Miller (elected January 1, 2026) |
13,940 |
337,250 |
|
Josette Sheeran2 |
92,036 |
427,000 |
|
Margaret Spellings2 (service ended December 31, 2025) |
84,000 |
541,500 |
1 Amounts may be deferred by eligible trustees under a nonqualified deferred compensation plan adopted by the fund in 1994. Deferred amounts accumulate at an earnings rate determined by the total return of one or more American Funds as designated by the trustees. Compensation shown in this table for the fiscal year ended April 30, 2026 does not include earnings on amounts deferred in previous fiscal years. See footnote 2 to this table for more information.
2 Since the deferred compensation plan’s adoption, the total amount of deferred compensation accrued by the fund (plus earnings thereon) through the end of the 2026 fiscal year for participating trustees is as follows: Gina F. Adams ($743,962), Charles E. Andrews ($652,908), Joseph J. Bonner ($2,059), Michael C. Camuñez ($20,863), Nariman Farvardin ($5,511,218), Yvonne L. Greenstreet ($13,747), Martin E. Koehler ($4,723), Sharon I. Meers ($6,919), Josette Sheeran (317,117) and Margaret Spellings ($432,241). Amounts deferred and accumulated earnings thereon are not funded and are general unsecured liabilities of the fund until paid to the trustees.
Washington Mutual Investors Fund — Page 28
Fund organization and the board of trustees — The fund, an open-end, diversified management investment company, was organized as a Delaware corporation in 1952, was reincorporated in Maryland in 1990, and reorganized as a Delaware statutory trust on July 1, 2010. All fund operations are supervised by the fund’s board of trustees which meets periodically and performs duties required by applicable state and federal laws.
Delaware law charges trustees with the duty of managing the business affairs of the trust. Trustees are considered to be fiduciaries of the trust and owe duties of care and loyalty to the trust and its shareholders.
Independent board members are paid certain fees for services rendered to the fund as described above. They may elect to defer all or a portion of these fees through a deferred compensation plan in effect for the fund.
The fund has several different classes of shares. Shares of each class represent an interest in the same investment portfolio. Each class has pro rata rights as to voting, redemption, dividends and liquidation, except that each class bears different distribution expenses and may bear different transfer agent fees and other expenses properly attributable to the particular class as approved by the board of trustees and set forth in the fund’s rule 18f-3 Plan. Each class’ shareholders have exclusive voting rights with respect to the respective class’ rule 12b-1 plans adopted in connection with the distribution of shares and on other matters in which the interests of one class are different from interests in another class. Shares of all classes of the fund vote together on matters that affect all classes in substantially the same manner. Each class votes as a class on matters that affect that class alone. Note that 529 college savings plan account owners invested in Class 529 shares are not shareholders of the fund and, accordingly, do not have the rights of a shareholder, such as the right to vote proxies relating to fund shares. As the legal owner of the fund’s Class 529 shares, Commonwealth Savers PlanSM will vote any proxies relating to the fund’s Class 529 shares. In addition, the trustees have the authority to establish new series and classes of shares, and to split or combine outstanding shares into a greater or lesser number, without shareholder approval.
The fund does not hold annual meetings of shareholders. However, significant matters that require shareholder approval, such as certain elections of board members or a change in a fundamental investment policy, will be presented to shareholders at a meeting called for such purpose. Shareholders have one vote per share owned.
The fund’s declaration of trust and by-laws, as well as separate indemnification agreements with independent trustees, provide in effect that, subject to certain conditions, the fund will indemnify its officers and trustees against liabilities or expenses actually and reasonably incurred by them relating to their service to the fund. However, trustees are not protected from liability by reason of their willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of their office.
Removal of trustees by shareholders — At any meeting of shareholders, duly called and at which a quorum is present, shareholders may, by the affirmative vote of the holders of two-thirds of the votes entitled to be cast, remove any trustee from office and may elect a successor or successors to fill any resulting vacancies for the unexpired terms of removed trustees. In addition, the trustees of the fund will promptly call a meeting of shareholders for the purpose of voting upon the removal of any trustees when requested in writing to do so by the record holders of at least 10% of the outstanding shares.
Leadership structure — The board’s chair is currently an independent trustee who is not an “interested person” of the fund within the meaning of the 1940 Act. The board has determined that an independent chair facilitates oversight and enhances the effectiveness of the board. The independent chair’s duties include, without limitation, generally presiding at meetings of the board, approving
Washington Mutual Investors Fund — Page 29
board meeting schedules and agendas, leading meetings of the independent trustees in executive session, facilitating communication with committee chairs, and serving as the principal independent trustee contact for fund management and counsel to the independent trustees and the fund.
Risk oversight — Day-to-day management of the fund, including risk management, is the responsibility of the fund’s contractual service providers, including the fund’s investment adviser, principal underwriter/distributor and transfer agent. Each of these entities is responsible for specific portions of the fund’s operations, including the processes and associated risks relating to the fund‘s investments, integrity of cash movements, financial reporting, operations and compliance. The board of trustees oversees the service providers’ discharge of their responsibilities, including the processes they use to manage relevant risks. In that regard, the board receives reports regarding the operations of the fund’s service providers, including risks. For example, the board receives reports from investment professionals regarding risks related to the fund‘s investments and trading. The board also receives compliance reports from the fund’s and the investment adviser’s chief compliance officers addressing certain areas of risk.
Committees of the fund’s board, which are comprised of independent board members, none of whom is an “interested person” of the fund within the meaning of the 1940 Act, as well as joint committees of independent board members of funds managed by Capital Research and Management Company, also explore risk management procedures in particular areas and then report back to the full board. For example, the fund’s audit committee oversees the processes and certain attendant risks relating to financial reporting, valuation of fund assets, and related controls. Similarly, a joint review and advisory committee oversees certain risk controls relating to the fund’s transfer agency services.
Not all risks that may affect the fund can be identified or processes and controls developed to eliminate or mitigate their effect. Moreover, it is necessary to bear certain risks (such as investment-related risks) to achieve the fund‘s objectives. As a result of the foregoing and other factors, the ability of the fund’s service providers to eliminate or mitigate risks is subject to limitations.
Committees of the board of trustees — The fund has an audit committee comprised of Charles E. Andrews, Joseph J. Bonner, Vanessa C. L. Chang, Sharon I. Meers, Pascal Millaire, William I. Miller and Josette Sheeran. The committee provides oversight regarding the fund’s accounting and financial reporting policies and practices, its internal controls and the internal controls of the fund’s principal service providers. The committee acts as a liaison between the fund’s independent registered public accounting firm and the full board of trustees. The audit committee held five meetings during the 2026 fiscal year.
The fund has a contracts committee comprised of all of its independent board members. The committee’s principal function is to request, review and consider the information deemed necessary to evaluate the terms of certain agreements between the fund and its investment adviser or the investment adviser’s affiliates, such as the Investment Advisory and Service Agreement, Principal Underwriting Agreement, Administrative Services Agreement and Plans of Distribution adopted pursuant to rule 12b-1 under the 1940 Act, that the fund may enter into, renew or continue, and to make its recommendations to the full board of trustees on these matters. The contracts committee held one meeting during the 2026 fiscal year.
The fund has a nominating and governance committee comprised of Gina F. Adams, Michael C. Camuñez, Cecilia V. Estolano, Martin E. Koehler and Yvonne Greenstreet. The committee periodically reviews such issues as the board’s composition, responsibilities, committees, compensation and other relevant issues, and recommends any appropriate changes to the full board of trustees. The committee also coordinates annual self-assessments of the board and evaluates, selects and nominates independent trustee candidates to the full board of trustees. While the committee normally is able to identify from its own and other resources an ample number of qualified candidates, it will
Washington Mutual Investors Fund — Page 30
consider shareholder suggestions of persons to be considered as nominees to fill future vacancies on the board. Such suggestions must be sent in writing to the nominating and governance committee of the fund, addressed to the fund’s secretary, and must be accompanied by complete biographical and occupational data on the prospective nominee, along with a written consent of the prospective nominee for consideration of his or her name by the committee. The nominating and governance committee held two meetings during the 2026 fiscal year.
Proxy voting procedures and principles — The fund’s investment adviser, in consultation with the fund’s board, has adopted Proxy Voting Procedures and Principles (the “Principles”) with respect to voting proxies of securities held by the fund and other funds advised by the investment adviser or its affiliates. The Principles are reasonably designed to ensure that proxies are voted solely in accordance with the financial interest of the clients of the investment adviser or its affiliates and the shareholders of the funds advised or managed by the investment adviser or its affiliates. The complete text of the Principles is available at capitalgroup.com. Final voting authority is held by a committee of the appropriate equity investment division of the investment adviser under authority delegated by the funds’ boards. The boards of funds advised by Capital Research and Management Company and its affiliates have established a Joint Proxy Committee (“JPC”) composed of independent board members who serve as representatives from each applicable fund board. The JPC’s role is to facilitate appropriate oversight of the proxy voting process and provide valuable input on corporate governance and related matters.
The Principles provide an important framework for analysis and decision-making by all funds. However, they are not exhaustive and do not address all potential issues. The Principles provide a certain amount of flexibility so that all relevant facts and circumstances can be considered in connection with every vote. As a result, each proxy received is voted on a case-by-case basis considering the specific circumstances of each proposal. The voting process reflects the funds’ understanding of the company’s business, its management and its relationship with shareholders over time. In all cases, long-term value creation and the investment objectives and policies of the funds managed by the investment adviser remain the focus.
The investment adviser seeks to vote all U.S. proxies. Proxies for companies outside the United States are also voted where there is sufficient time and information available, taking into account distinct market practices, regulations and laws, and types of proposals presented in each country. Where there is insufficient proxy and meeting agenda information available, the investment adviser will generally vote against such proposals in the interest of encouraging improved disclosure for investors. The investment adviser may not exercise its voting authority if voting would impose costs on clients, including opportunity costs. For example, certain regulators have granted investment limit relief to the investment adviser and its affiliates, conditioned upon limiting voting power to specific voting ceilings. To comply with these voting ceilings, the investment adviser will scale back its votes across all funds and accounts it manages on a pro rata basis based on assets. In addition, certain countries impose restrictions on the ability of shareholders to sell shares during the proxy solicitation period. The investment adviser may choose, due to liquidity issues, not to expose the funds and accounts it manages to such restrictions and may not vote some (or all) shares. Finally, the investment adviser may determine not to recall securities on loan to exercise its voting rights when it determines that the cost of doing so would exceed the benefits to clients or that the vote would not have a material impact on the investment. Proxies with respect to securities on loan through client-directed lending programs are not available to vote and therefore are not voted.
After a proxy statement is received, the investment adviser’s stewardship and engagement team prepares a summary of the proposals contained in the proxy statement.
Investment analysts are generally responsible for making voting recommendations for their investment division on significant votes that relate to companies in their coverage areas. Analysts also have the opportunity to review initial recommendations made by the investment adviser’s stewardship and
Washington Mutual Investors Fund — Page 31
engagement team. Depending on the vote recommendation, a second opinion may be made by a proxy coordinator (an investment professional with experience in corporate governance and proxy voting matters) within the appropriate investment division, based on knowledge of the Principles and familiarity with proxy-related issues. Each of the investment adviser’s equity investment divisions has its own proxy voting committee, which is made up of investment professionals within each division. Each division’s proxy voting committee retains final authority for voting decisions made by such division. In cases where a fund is co-managed and a security is held by more than one of the investment adviser’s equity investment divisions, the divisions may develop different voting recommendations for individual ballot proposals. If this occurs, and if permitted by local market conventions, the fund’s position will generally be voted proportionally by divisional holding, according to their respective decisions. Otherwise, the outcome will be determined by the equity investment division or divisions with the larger position in the security as of the record date for the shareholder meeting.
In addition to its proprietary proxy voting, governance and executive compensation research, Capital Research and Management Company may utilize research provided by third-party advisory firms on a case-by-case basis. It does not, as a policy, follow the voting recommendations provided by these firms. It periodically assesses the information provided by the advisory firms and reports to the applicable governance committees that provide oversight of the application of the Principles.
From time to time, the investment adviser may vote proxies issued by, or on proposals sponsored or publicly supported by, (a) a client with substantial assets managed by the investment adviser or its affiliates, (b) an entity with a significant business relationship with The Capital Group Companies, Inc. or its affiliates, or (c) a company with a director of an American Fund on its board (each referred to as an “Interested Party”). Other persons or entities may also be deemed an Interested Party if facts or circumstances appear to give rise to a potential conflict.
The investment adviser has developed procedures to identify and address instances when a vote could appear to be influenced by such a relationship. Each equity investment division of the investment adviser has established a Special Review Committee (“SRC”) of senior investment professionals and legal and compliance professionals with oversight of potentially conflicted matters.
If a potential conflict is identified according to the procedure above, the SRC will take appropriate steps to address the conflict of interest. These steps may include engaging an independent third party to review the proxy and using the Principles to provide an independent voting recommendation to the investment adviser for vote execution. The investment adviser will generally follow the third party’s recommendation, except when it believes the recommendation is inconsistent with the investment adviser’s fiduciary duty to its clients. Occasionally, it may not be feasible to engage the third party to review the matter due to compressed timeframes or other operational issues. In this case, the SRC will take appropriate steps to address the conflict of interest, including reviewing the proxy after being provided with a summary of any relevant communications with the Interested Party, the rationale for the voting decision, information on the organization’s relationship with the Interested Party and any other pertinent information.
Information regarding how the fund voted proxies relating to portfolio securities during the 12-month period ended June 30 of each year will be available on or about September 1 of such year (a) without charge, upon request by calling American Funds Service Company at (800) 421-4225, (b) on the Capital Group website and (c) on the SEC’s website at sec.gov.
The following summary sets forth the general positions of the investment adviser on various proposals. A copy of the full Principles is available upon request, free of charge, by calling American Funds Service Company or visiting the Capital Group website.
Washington Mutual Investors Fund — Page 32
Director matters — The election of a company’s slate of nominees for director generally is supported. Votes may be withheld for some or all of the nominees if this is determined to be in the best interest of shareholders or if, in the opinion of the investment adviser, such nominee has not fulfilled his or her fiduciary duty. In making this determination, the investment adviser considers, among other things, a nominee’s potential conflicts of interest, track record (whether in the current board seat or in previous executive or director roles) with respect to shareholder protection and value creation as well as their capacity for full engagement on board matters. The investment adviser generally supports a breadth of experience and perspectives among board members, and the separation of the chairman and CEO positions.
Governance provisions — Proposals to declassify a board (elect all directors annually) generally are supported based on the belief that this increases the directors’ sense of accountability to shareholders. Proposals for cumulative voting generally are supported in order to promote management and board accountability and an opportunity for leadership change. Proposals designed to make director elections more meaningful, either by requiring a majority vote or by requiring any director receiving more withhold votes than affirmative votes to tender his or her resignation, generally are supported.
Shareholder rights — Proposals to repeal an existing poison pill generally are supported. (There may be certain circumstances, however, when a proxy voting committee of a fund or an investment division of the investment adviser believes that a company needs to maintain anti-takeover protection.) Proposals to eliminate the right of shareholders to act by written consent or to take away a shareholder’s right to call a special meeting typically are not supported.
Compensation and benefit plans — Equity incentive plans are complicated, and many factors are considered in evaluating a plan. Each plan is evaluated based on protecting shareholder interests and a knowledge of the company and its management. Considerations include the pricing (or repricing) of options awarded under the plan and the impact of dilution on existing shareholders from past and future equity awards. Compensation packages should be structured to attract, motivate and retain existing employees and qualified directors; in addition, they should be aligned with the long-term success of the company and the enhancement of shareholder value.
Routine matters — The ratification of auditors, procedural matters relating to the annual meeting and changes to company name are examples of items considered routine. Such items generally are voted in favor of management’s recommendations unless circumstances indicate otherwise.
Shareholder proposals on environmental and social issues — The investment adviser believes environmental and social issues present investment risks and opportunities that can shape a company’s long-term financial sustainability. Shareholder proposals, including those relating to social and environmental issues, are evaluated in terms of their materiality to the company and its ability to generate long-term value in light of the company’s business model specific operating context. The investment adviser generally supports transparency and standardized disclosure, particularly that which leverages existing regulatory reporting or industry best practices. With respect to environmental matters, this includes disclosures aligned with industry standards and reporting on sustainability issues that are material to investment analysis. With respect to social matters, the investment adviser encourages companies to disclose the composition of the workforce in a regionally appropriate manner. The investment adviser supports relevant reporting and disclosure that is consistent with broadly applicable standards.
Washington Mutual Investors Fund — Page 33
Principal fund shareholders — The following table identifies those investors who own of record, or are known by the fund to own beneficially, 5% or more of any class of its shares as of the opening of business on June 1, 2026. Unless otherwise indicated, the ownership percentages below represent ownership of record rather than beneficial ownership.
|
Name and address |
Ownership |
Ownership percentage | |
|
Edward D. Jones & Co. |
Record |
Class A |
27.40% |
|
For the benefit of customers |
|
Class F-3 |
40.15% |
|
St. Louis, MO |
|
Class 529-A |
13.77% |
|
|
|
Class 529-C |
9.93% |
|
|
|
|
|
|
Wells Fargo Clearing Services, LLC |
Record |
Class A |
6.51% |
|
Special custody account for the exclusive benefit of customers |
|
Class C |
13.56% |
|
St. Louis, MO |
|
Class F-1 |
7.71% |
|
|
|
Class F-2 |
21.59% |
|
|
|
Class 529-A |
5.30% |
|
|
|
Class 529-C |
13.71% |
|
|
|
|
|
|
Pershing, LLC |
Record |
Class A |
5.52% |
|
Jersey City, NJ |
|
Class C |
7.90% |
|
|
|
Class F-1 |
5.11% |
|
|
|
Class F-2 |
8.07% |
|
|
|
Class F-3 |
12.53% |
|
|
|
Class R-5 |
6.73% |
|
|
|
|
|
|
National Financial Services, LLC |
Record |
Class A |
5.29% |
|
For the exclusive benefit of our customers |
|
Class C |
6.92% |
|
Jersey City, NJ |
|
Class F-1 |
12.04% |
|
|
|
Class F-2 |
10.86% |
|
|
|
Class F-3 |
15.40% |
|
|
|
|
|
|
LPL Financial |
Record |
Class C |
8.97% |
|
Omnibus customer account |
|
Class F-1 |
5.46% |
|
San Diego, CA |
|
Class F-2 |
23.26% |
|
|
|
|
|
|
Raymond James |
Record |
Class C |
8.00% |
|
Omnibus for mutual funds house account |
|
Class F-2 |
8.61% |
|
St. Petersburg, FL |
|
Class 529-A |
5.23% |
|
|
|
Class 529-C |
9.33% |
|
|
|
|
|
|
Morgan Stanley Smith Barney, LLC |
Record |
Class C |
6.28% |
|
For the benefit of its customers |
|
Class F-2 |
5.24% |
|
Omnibus account |
|
Class 529-A |
9.09% |
|
New York, NY |
|
Class 529-C |
12.55% |
|
|
|
Class 529-E |
9.52% |
|
|
|
|
|
|
Stifel Nicolaus & Co Inc |
Record |
Class C |
5.26% |
|
Exclusive benefit of customers |
|
|
|
|
St. Louis, MO |
|
|
|
|
|
|
|
|
|
Voya Institutional Trust Company |
Record |
Class F-1 |
16.86% |
|
Windsor, CT |
Beneficial |
|
|
|
|
|
|
|
Washington Mutual Investors Fund — Page 34
|
Name and address |
Ownership |
Ownership percentage | |
|
Charles Schwab & Co., Inc. |
Record |
Class F-1 |
11.69% |
|
Special custody account FBO customers |
|
|
|
|
Account 1 |
|
|
|
|
San Francisco, CA |
|
|
|
|
|
|
|
|
|
Sammons Retirement Solution |
Record |
Class F-1 |
7.39% |
|
Omnibus IRA |
|
|
|
|
West Des Moines, IA |
|
|
|
|
|
|
|
|
|
Charles Schwab & Co., Inc. |
Record |
Class F-3 |
15.01% |
|
Special custody account FBO customers |
|
|
|
|
Account 2 |
|
|
|
|
San Francisco, CA |
|
|
|
|
|
|
|
|
|
Charles Schwab & Co., Inc. |
Record |
Class F-3 |
7.42% |
|
Special custody account FBO customers |
|
Class 529-C |
8.18% |
|
Account 3 |
|
Class 529-F-3 |
81.61% |
|
San Francisco, CA |
|
|
|
|
|
|
|
|
|
Capital Research & Management Company |
Record |
Class 529-F-3 |
18.39% |
|
Corporate Account |
|
|
|
|
Irvine, CA |
|
|
|
|
|
|
|
|
|
Matrix Trust Company as agent for |
Record |
Class R-1 |
29.60% |
|
Advisor Trust, Inc. |
|
|
|
|
Aspire-Investlink |
|
|
|
|
Denver, CO |
|
|
|
|
|
|
|
|
|
Talcott Resolution Life Insurance Company |
Record |
Class R-1 |
19.83% |
|
Separate account DC 401k |
Beneficial |
|
|
|
Hartford, CT |
|
|
|
|
|
|
|
|
|
Massachusetts Mutual Life Insurance Company |
Record |
Class R-1 |
8.39% |
|
401k plan |
Beneficial |
|
|
|
Springfield, MA |
|
|
|
|
|
|
|
|
|
Empower Trust Company, LLC |
Record |
Class R-2 |
11.16% |
|
FBO Planpremier Retirement Plans Omnibus |
Beneficial |
Class R-2-E |
86.00% |
|
Greenwood Village, CO |
|
Class R-3 |
16.82% |
|
|
|
Class R-4 |
15.45% |
|
|
|
Class R-5-E |
56.54% |
|
|
|
Class R-5 |
22.59% |
|
|
|
|
|
|
Voya Retirement Insurance and Annuity Company |
Record |
Class R-3 |
6.80% |
|
Hartford, CT |
Beneficial |
Class R-4 |
13.65% |
|
|
|
|
|
|
John Hancock Life Insurance Company USA |
Record |
Class R-4 |
20.96% |
|
Boston, MA |
|
|
|
|
|
|
|
|
|
National Financial Services, LLC |
Record |
Class R-5 |
10.93% |
|
Account 1 |
Beneficial |
|
|
|
Jersey City, NJ |
|
|
|
|
|
|
|
|
Washington Mutual Investors Fund — Page 35
|
Name and address |
Ownership |
Ownership percentage | |
|
John Hancock Trust Company LLC |
Record |
Class R-5 |
10.93% |
|
Boston, MA |
Beneficial |
|
|
|
|
|
|
|
|
American Funds 2050 Target Date |
Record |
Class R-6 |
6.73% |
|
Retirement fund |
|
|
|
|
Norfolk, VA |
|
|
|
|
|
|
|
|
|
American Funds 2045 Target Date |
Record |
Class R-6 |
6.51% |
|
Retirement fund |
|
|
|
|
Norfolk, VA |
|
|
|
|
|
|
|
|
|
American Funds 2040 Target Date |
Record |
Class R-6 |
6.28% |
|
Retirement fund |
|
|
|
|
Norfolk, VA |
|
|
|
|
|
|
|
|
|
American Funds 2035 Target Date |
Record |
Class R-6 |
5.83% |
|
Retirement fund |
|
|
|
|
Norfolk, VA |
|
|
|
|
|
|
|
|
|
American Funds 2030 Target Date |
Record |
Class R-6 |
5.41% |
|
Retirement fund |
|
|
|
|
Norfolk, VA |
|
|
|
|
|
|
|
|
|
American Funds Target Date 2055 |
Record |
Class R-6 |
5.17% |
|
Retirement fund |
|
|
|
|
Norfolk, VA |
|
|
|
|
|
|
|
|
|
National Financial Services, LLC |
Record |
Class R-6 |
5.11% |
|
Account 2 |
Beneficial |
|
|
|
Jersey City, NJ |
|
|
|
As of June 1, 2026, the officers and trustees of the fund, as a group, owned beneficially or of record less than 1% of the outstanding shares of the fund.
Unless otherwise noted, references in this statement of additional information to Class F shares, Class R shares or Class 529 shares refer to all F share classes, all R share classes or all 529 share classes, respectively.
Washington Mutual Investors Fund — Page 36
Investment adviser — Capital Research and Management Company, the fund’s investment adviser, founded in 1931, maintains research facilities in the United States and abroad (Geneva, Hong Kong, London, Los Angeles, Mumbai, New York, San Francisco, Singapore, Tokyo, Toronto and Washington, D.C.). These facilities are staffed with experienced investment professionals. The investment adviser is located at 333 South Hope Street, Los Angeles, CA 90071 and 6455 Irvine Center Drive, Irvine, CA 92618. It is a wholly owned subsidiary of The Capital Group Companies, Inc., a holding company for several investment management subsidiaries. Capital Research and Management Company manages equity assets through three equity investment divisions and fixed income assets through its fixed income investment division, Capital Fixed Income Investors. The three equity investment divisions — Capital World Investors, Capital Research Global Investors and Capital International Investors — make investment decisions independently of one another. Portfolio managers in Capital International Investors rely on a research team that also provides investment services to institutional clients and other accounts advised by affiliates of Capital Research and Management Company. The investment adviser, which is deemed under the Commodity Exchange Act (the “CEA”) to be the operator of the fund, has claimed an exclusion from the definition of the term commodity pool operator under the CEA with respect to the fund and, therefore, is not subject to registration or regulation as such under the CEA with respect to the fund.
The investment adviser has adopted policies and procedures that address issues that may arise as a result of an investment professional’s management of the fund and other funds and accounts. Potential issues could involve allocation of investment opportunities and trades among funds and accounts, use of information regarding the timing of fund trades, investment professional compensation and voting relating to portfolio securities. The investment adviser believes that its policies and procedures are reasonably designed to address these issues.
Compensation of investment professionals — As described in the prospectus, the investment adviser uses a system of multiple portfolio managers in managing fund assets. In addition, Capital Research and Management Company’s investment analysts may make investment decisions with respect to a portion of a fund’s portfolio within their research coverage.
Portfolio managers and investment analysts are paid competitive salaries by Capital Research and Management Company. In addition, they may receive bonuses based on their individual portfolio results. Investment professionals also may participate in profit-sharing plans. The relative mix of compensation represented by bonuses, salary and profit-sharing plans will vary depending on the individual’s portfolio results, contributions to the organization and other factors.
To encourage a long-term focus, bonuses based on investment results are calculated by comparing total investment returns to relevant benchmarks over the most recent one-, three-, five- and eight-year periods, with increasing weight placed on each succeeding measurement period. For portfolio managers, benchmarks may include measures of the marketplaces in which the fund invests and measures of the results of comparable mutual funds. For investment analysts, benchmarks may include relevant market measures and appropriate industry or sector indexes reflecting their areas of expertise. Capital Research and Management Company makes periodic subjective assessments of analysts’ contributions to the investment process and this is an element of their overall compensation. The investment results of each of the fund’s portfolio managers may be measured against one or more benchmarks, depending on his or her investment focus, such as (i) S&P 500 Index, (ii) the securities that are eligible to be purchased by the fund, and (iii) Morningstar US Funds – US Large Value. From time to time, Capital Research and Management Company may adjust or customize these benchmarks to better reflect the investment objective(s) of the fund and/or the universe of comparably managed funds of competitive investment management firms.
Washington Mutual Investors Fund — Page 37
Portfolio manager fund holdings and other managed accounts — As described below, portfolio managers may personally own shares of the fund. In addition, portfolio managers may manage portions of other registered investment companies or accounts advised by Capital Research and Management Company or its affiliates.
The following table reflects information as of April 30, 2026:
|
Portfolio |
Dollar
range |
Number |
Number |
Number | |||
|
Aline Avzaradel |
Over $1,000,000 |
5 |
$309.9 |
7 |
$38.72 |
None | |
|
Alan N. Berro |
Over $1,000,000 |
4 |
$324.9 |
3 |
$18.62 |
None | |
|
Mark L. Casey |
Over $1,000,000 |
6 |
$599.9 |
3 |
$23.79 |
None | |
|
Irfan M. Furniturewala |
Over $1,000,000 |
5 |
$262.7 |
5 |
$13.85 |
99 |
$26.05 |
|
Emme Kozloff |
Over $1,000,000 |
3 |
$46.0 |
2 |
$18.22 |
None | |
|
Jin Lee |
Over $1,000,000 |
6 |
$478.9 |
5 |
$26.68 |
None | |
|
Eric H. Stern |
Over $1,000,000 |
3 |
$349.7 |
3 |
$17.72 |
4 |
$6.93 |
|
Diana Wagner |
Over $1,000,000 |
2 |
$185.4 |
2 |
$13.64 |
None | |
1 Ownership disclosure is made using the following ranges: None; $1 – $10,000; $10,001 – $50,000; $50,001 – $100,000; $100,001 – $500,000; $500,001 – $1,000,000; and Over $1,000,000.
2 Indicates other RIC(s), PIV(s) or other accounts managed by Capital Research and Management Company or its affiliates for which the portfolio manager also has significant day to day management responsibilities. Assets noted are the total net assets of the RIC(s), PIV(s) or other accounts and are not the total assets managed by the individual, which is a substantially lower amount. No RIC, PIV or other account has an advisory fee that is based on the performance of the RIC, PIV or other account, unless otherwise noted.
3 Personal brokerage accounts of portfolio managers and their families are not reflected.
The fund’s investment adviser has adopted policies and procedures to mitigate material conflicts of interest that may arise in connection with a portfolio manager’s management of the fund, on the one hand, and investments in the other pooled investment vehicles and other accounts, on the other hand, such as material conflicts relating to the allocation of investment opportunities that may be suitable for both the fund and such other accounts.
Washington Mutual Investors Fund — Page 38
Investment Advisory and Service Agreement — The Investment Advisory and Service Agreement (the “Agreement”) between the fund and the investment adviser will continue in effect until November 30, 2026, unless sooner terminated, and may be renewed from year to year thereafter, provided that any such renewal has been specifically approved at least annually by (a) the board of trustees, or by the vote of a majority (as defined in the 1940 Act) of the outstanding voting securities of the fund, and (b) the vote of a majority of trustees who are not parties to the Agreement or interested persons (as defined in the 1940 Act) of any such party, in accordance with applicable laws and regulations. The Agreement provides that the investment adviser has no liability to the fund or its shareholders for its acts or omissions in the performance of its obligations to the fund not involving willful misfeasance, bad faith, gross negligence or reckless disregard of its obligations under the Agreement. The Agreement also provides that either party has the right to terminate it, without penalty, upon 60 days' written notice to the other party, and that the Agreement automatically terminates in the event of its assignment (as defined in the 1940 Act). In addition, the Agreement provides that the investment adviser may delegate all, or a portion of, its investment management responsibilities to one or more subsidiary advisers approved by the fund's board, pursuant to an agreement between the investment adviser and such subsidiary. Any such subsidiary adviser will be paid solely by the investment adviser out of its fees.
Under the Agreement, the investment adviser pays to the fund annually, immediately after the fiscal year end, the amount by which the total expenses of the fund for any particular fiscal year exceed an amount equal to 1% of the average net assets of the fund for the year. Such expense limitation shall apply only to Class A shares issued by the fund and shall not apply to any other classes of shares the fund may issue. Any new classes of shares issued by the fund will not be subject to an expense limitation. However, notwithstanding the foregoing, to the extent the investment adviser is required to reduce its investment advisory fee due to the expenses of the Class A shares exceeding the stated limit, the reduction in the investment advisory fee will reduce the fund's investment advisory fee expense similarly for all other classes of shares of the fund.
In addition to providing investment advisory services, the investment adviser furnishes the services and pays the compensation and travel expenses of persons to perform the fund’s executive, administrative, clerical and bookkeeping functions, and provides suitable office space, necessary small office equipment and utilities, general purpose accounting forms, supplies and postage used at the fund’s offices. The fund pays all expenses not assumed by the investment adviser, including, but not limited to: custodian, stock transfer and dividend disbursing fees and expenses; shareholder recordkeeping and administrative expenses; costs of the designing, printing and mailing of reports, prospectuses, proxy statements and notices to its shareholders; taxes; expenses of the issuance and redemption of fund shares (including stock certificates, registration and qualification fees and expenses); expenses pursuant to the fund’s plans of distribution (described below); legal and auditing expenses; compensation, fees and expenses paid to independent trustees; association dues; costs of stationery and forms prepared exclusively for the fund; and costs of assembling and storing shareholder account data.
Washington Mutual Investors Fund — Page 39
Under the Agreement, the investment adviser receives a management fee based on the following annualized rates and daily net asset levels:
|
Rate |
Net asset level | |
|
In excess of |
Up to | |
|
0.342% |
$ 0 |
$ 3,000,000,000 |
|
0.265 |
3,000,000,000 |
8,000,000,000 |
|
0.243 |
8,000,000,000 |
12,000,000,000 |
|
0.242 |
12,000,000,000 |
21,000,000,000 |
|
0.235 |
21,000,000,000 |
34,000,000,000 |
|
0.230 |
34,000,000,000 |
44,000,000,000 |
|
0.2275 |
44,000,000,000 |
55,000,000,000 |
|
0.2225 |
55,000,000,000 |
71,000,000,000 |
|
0.2175 |
71,000,000,000 |
89,000,000,000 |
|
0.2145 |
89,000,000,000 |
116,000,000,000 |
|
0.2115 |
116,000,000,000 |
144,000,000,000 |
|
0.2095 |
144,000,000,000 |
187,000,000,000 |
|
0.2075 |
187,000,000,000 |
|
Management fees are paid monthly and accrued daily.
For the fiscal years ended April 30, 2026, 2025 and 2024, the investment adviser earned from the fund management fees of $451,895,000, $417,131,000 and $365,620,000, respectively.
Washington Mutual Investors Fund — Page 40
Administrative services — The investment adviser and its affiliates provide certain administrative services for shareholders of the fund’s Class A, C, F, R and 529 shares. Administrative services are provided by the investment adviser and its affiliates to help assist third parties providing non-distribution services to fund shareholders. These services include providing in-depth information on the fund and market developments that impact fund investments. Administrative services also include, but are not limited to, coordinating, monitoring and overseeing third parties that provide services to fund shareholders.
These services are provided pursuant to an Administrative Services Agreement (the “Administrative Agreement”) between the fund and the investment adviser relating to the fund’s Class A, C, F, R and 529 shares. The Administrative Agreement will continue in effect until November 30, 2026, unless sooner renewed or terminated, and may be renewed from year to year thereafter, provided that any such renewal has been specifically approved by the vote of a majority of the members of the fund’s board who are not parties to the Administrative Agreement or interested persons (as defined in the 1940 Act) of any such party. The fund may terminate the Administrative Agreement at any time by vote of a majority of independent board members. The investment adviser has the right to terminate the Administrative Agreement upon 60 days’ written notice to the fund. The Administrative Agreement automatically terminates in the event of its assignment (as defined in the 1940 Act).
The Administrative Services Agreement between the fund and the investment adviser provides the fund the ability to charge an administrative services fee of .05% for all share classes. The fund’s investment adviser receives an administrative services fee at the annual rate of .03% of the average daily net assets of the fund attributable to each of the share classes (which could be increased as noted above) for its provision of administrative services. Administrative services fees are paid monthly and accrued daily.
During the 2026 fiscal year, administrative services fees were:
|
Administrative services fee | |
|
Class A |
$28,049,000 |
|
Class C |
412,000 |
|
Class F-1 |
729,000 |
|
Class F-2 |
11,383,000 |
|
Class F-3 |
3,991,000 |
|
Class 529-A |
1,125,000 |
|
Class 529-C |
22,000 |
|
Class 529-E |
34,000 |
|
Class 529-F-2 |
155,000 |
|
Class 529-F-3 |
—* |
|
Class R-1 |
20,000 |
|
Class R-2 |
237,000 |
|
Class R-2E |
39,000 |
|
Class R-3 |
531,000 |
|
Class R-4 |
784,000 |
|
Class R-5E |
170,000 |
|
Class R-5 |
197,000 |
|
Class R-6 |
13,476,000 |
* Amount less than $1,000.
Washington Mutual Investors Fund — Page 41
Principal Underwriter and plans of distribution — Capital Client Group, Inc. (the “Principal Underwriter”) is the principal underwriter of the fund’s shares. The Principal Underwriter is located at 333 South Hope Street, Los Angeles, CA 90071; 6455 Irvine Center Drive, Irvine, CA 92618; 3500 Wiseman Boulevard, San Antonio, TX 78251; 12811 North Meridian Street, Carmel, IN 46032; 399 Park Avenue, 34th Floor, New York, NY 10022; and 444 W. Lake Street, Suite 4600, Chicago, IL 60606.
The Principal Underwriter receives revenues relating to sales of the fund’s shares, as follows:
· For Class A and 529-A shares, the Principal Underwriter receives commission revenue consisting of the balance of the Class A and 529-A sales charge remaining after the allowances by the Principal Underwriter to investment dealers.
· For Class C and 529-C shares, the Principal Underwriter receives any contingent deferred sales charges that apply during the first year after purchase.
In addition, the fund reimburses the Principal Underwriter for advancing immediate service fees to qualified dealers and financial professionals upon the sale of Class C and 529-C shares. The fund also reimburses the Principal Underwriter for service fees (and, in the case of Class 529-E shares, commissions) paid on a quarterly basis to intermediaries, such as qualified dealers or financial professionals, in connection with investments in Class F-1, 529-E, R-1, R-2, R-2E, R-3 and R-4 shares.
Commissions, revenue or service fees retained by the Principal Underwriter after allowances or compensation to dealers were:
|
Fiscal year |
Commissions, |
Allowance
or | |
|
Class A |
2026 |
$7,042,000 |
$30,059,000 |
|
2025 |
7,648,000 |
32,748,000 | |
|
2024 |
6,922,000 |
29,322,000 | |
|
Class C |
2026 |
112,000 |
1,728,000 |
|
2025 |
17,000 |
1,662,000 | |
|
2024 |
48,000 |
1,394,000 | |
|
Class 529-A |
2026 |
546,000 |
2,073,000 |
|
2025 |
497,000 |
2,167,000 | |
|
2024 |
523,000 |
2,005,000 | |
|
Class 529-C |
2026 |
— |
151,000 |
|
2025 |
— |
127,000 | |
|
2024 |
20,000 |
125,000 |
Plans of distribution — The fund has adopted plans of distribution (the “Plans”) pursuant to rule 12b-1 under the 1940 Act. The Plans permit the fund to expend amounts to finance any activity primarily intended to result in the sale of fund shares, provided the fund’s board of trustees has approved the category of expenses for which payment is being made.
Each Plan is specific to a particular share class of the fund. As the fund has not adopted a Plan for Class F-2, F-3, 529-F-2, 529-F-3, R-5E, R-5 or R-6, no 12b-1 fees are paid from Class F-2, F-3, 529-F-2, 529-F-3, R-5E, R-5 or R-6 share assets and the following disclosure is not applicable to these share classes.
Payments under the Plans may be made for service-related and/or distribution-related expenses. Service-related expenses include paying service fees to qualified dealers. Distribution-related expenses include commissions paid to qualified dealers. The amounts actually paid under the Plans for the past fiscal year, expressed as a percentage of the fund’s average daily net assets attributable to the applicable share class, are disclosed in the prospectus under “Fees and expenses of the fund.” Further
Washington Mutual Investors Fund — Page 42
information regarding the amounts available under each Plan is in the “Plans of Distribution” section of the prospectus.
Following is a brief description of the Plans:
Class A and 529-A — For Class A and 529-A shares, up to .25% of the fund’s average daily net assets attributable to such shares is reimbursed to the Principal Underwriter for paying service-related expenses, and the balance available under the applicable Plan may be paid to the Principal Underwriter for distribution-related expenses. The fund may annually expend up to .25% for Class A shares and up to .50% for Class 529-A shares under the applicable Plan; however, for Class 529-A shares, the board of trustees has approved payments to the Principal Underwriter of up to .25% of the fund’s average daily net assets, in the aggregate, for paying service- and distribution-related expenses.
Distribution-related expenses for Class A and 529-A shares include dealer commissions and wholesaler compensation paid on sales of shares of $1 million or more purchased without a sales charge. Commissions on these “no load” purchases (which are described in further detail under the “Sales Charges” section of this statement of additional information) in excess of the Class A and 529-A Plan limitations and not reimbursed to the Principal Underwriter during the most recent fiscal quarter are recoverable for 15 months, provided that the reimbursement of such commissions does not cause the fund to exceed the annual expense limit. After 15 months, these commissions are not recoverable.
Other share classes — The Plans for each of the other share classes that have adopted Plans provide for payments to the Principal Underwriter for paying service-related and distribution-related expenses of up to the following amounts of the fund’s average daily net assets attributable to such shares:
|
Share class |
Service |
Distribution |
Total |
|
Class C |
0.25% |
0.75% |
1.00% |
|
Class F-1 |
0.25 |
— |
0.50 |
|
Class 529-C |
0.25 |
0.75 |
1.00 |
|
Class 529-E |
0.25 |
0.25 |
0.75 |
|
Class R-1 |
0.25 |
0.75 |
1.00 |
|
Class R-2 |
0.25 |
0.50 |
1.00 |
|
Class R-2E |
0.25 |
0.35 |
0.85 |
|
Class R-3 |
0.25 |
0.25 |
0.75 |
|
Class R-4 |
0.25 |
— |
0.50 |
1 Amounts in these columns represent the amounts approved by the board of trustees under the applicable Plan.
2 The fund may annually expend the amounts set forth in this column under the current Plans with the approval of the board of trustees.
Payment of service fees — For purchases of less than $1 million, payment of service fees to investment dealers generally begins accruing immediately after establishment of an account in Class A, C, 529-A or 529-C shares. For purchases of $1 million or more, payment of service fees to investment dealers generally begins accruing 12 months after establishment of an account in Class A or 529-A shares. Service fees are not paid on certain investments made at net asset value including accounts established by registered representatives and their family members as described in the “Sales charges” section of the prospectus.
Washington Mutual Investors Fund — Page 43
During the 2026 fiscal year, 12b-1 expenses accrued and paid, and if applicable, unpaid, were:
|
12b-1 expenses |
12b-1
unpaid liability | |
|
Class A |
$227,728,000 |
$17,861,000 |
|
Class C |
13,718,000 |
1,290,000 |
|
Class F-1 |
6,010,000 |
710,000 |
|
Class 529-A |
8,600,000 |
695,000 |
|
Class 529-C |
720,000 |
64,000 |
|
Class 529-E |
573,000 |
53,000 |
|
Class R-1 |
670,000 |
57,000 |
|
Class R-2 |
5,921,000 |
801,000 |
|
Class R-2E |
779,000 |
119,000 |
|
Class R-3 |
8,859,000 |
1,065,000 |
|
Class R-4 |
6,513,000 |
719,000 |
Approval of the Plans — As required by rule 12b-1 and the 1940 Act, the Plans (together with the Principal Underwriting Agreement) have been approved by the full board of trustees and separately by a majority of the independent trustees of the fund who have no direct or indirect financial interest in the operation of the Plans or the Principal Underwriting Agreement. In addition, the selection and nomination of independent trustees of the fund are committed to the discretion of the independent trustees during the existence of the Plans.
Potential benefits of the Plans to the fund and its shareholders include enabling shareholders to obtain advice and other services from a financial professional at a reasonable cost, the likelihood that the Plans will stimulate sales of the fund benefiting the investment process through growth or stability of assets and the ability of shareholders to choose among various alternatives in paying for sales and service. The Plans may not be amended to materially increase the amount spent for distribution without shareholder approval. Plan expenses are reviewed quarterly by the board of trustees and the Plans must be renewed annually by the board of trustees.
A portion of the fund’s 12b-1 expense is paid to financial professionals to compensate them for providing ongoing services. If you have questions regarding your investment in the fund or need assistance with your account, please contact your financial professional. If you need a financial professional, please call Capital Client Group, Inc. at (800) 421-4120 for assistance.
Fee to Commonwealth Savers Plan — Class 529 shares are offered to certain American Funds by Commonwealth Savers Plan through CollegeAmerica and Class ABLE shares are offered to certain American Funds by Commonwealth Savers Plan through ABLEAmerica, a tax-advantaged savings program for individuals with disabilities. As compensation for its oversight and administration of the CollegeAmerica and ABLEAmerica savings plans, Commonwealth Savers Plan is entitled to receive a quarterly fee based on the combined net assets invested in Class 529 shares and Class ABLE shares across all American Funds. The quarterly fee is accrued daily and calculated at the annual rate of .09% on the first $20 billion of net assets invested in American Funds Class 529 shares and Class ABLE shares, .05% on net assets between $20 billion and $75 billion and .03% on net assets over $75 billion. The fee for any given calendar quarter is accrued and calculated on the basis of average net assets of American Funds Class 529 and Class ABLE shares for the last month of the prior calendar quarter. Commonwealth Savers Plan is currently waiving that portion of its fee attributable to Class ABLE shares. Such waiver is expected to remain in effect until the earlier of (a) the date on which total net assets invested in Class ABLE shares reach $300 million and (b) June 30, 2028.
Washington Mutual Investors Fund — Page 44
Other compensation to dealers — As of March 1, 2026, the firms (or their affiliates) that Capital Client Group, Inc. anticipates will receive additional compensation (as described in the prospectus) are listed below.
|
Dealers: |
|
|
Ameriprise |
|
|
Atria Wealth Solutions |
|
|
Avantax Investment Services, Inc |
|
|
Cambridge |
|
|
Cetera Financial Group |
|
|
Charles Schwab Network |
|
|
Commonwealth |
|
|
Edward Jones |
|
|
Equitable Advisors |
|
|
Fidelity |
|
|
J.P. Morgan Chase Banc One |
|
|
Janney Montgomery Scott |
|
|
Kestra |
|
|
LPL Group |
|
|
Merrill |
|
|
MML Investors Services |
|
|
Morgan Stanley Wealth Management |
|
|
Northwestern Mutual (NM) |
|
|
Osaic (Advisor Group) |
|
|
Raymond James Group |
|
|
RBC |
|
|
Robert W. Baird |
|
|
Stifel Nicolaus & Co |
|
|
UBS |
|
|
Wells Fargo Network |
|
|
Recordkeepers: |
|
|
Ascensus |
|
|
Empower (Great West Life & Annuity Insurance Company) |
|
|
John Hancock |
|
|
Nationwide |
|
|
Principal |
|
|
Transamerica |
|
|
Voya |
Washington Mutual Investors Fund — Page 45
Execution of portfolio transactions
The investment adviser places orders with broker-dealers for the fund’s portfolio transactions. Purchases and sales of equity securities on a securities exchange or an over-the-counter market are effected through broker-dealers who receive commissions for their services. Generally, commissions relating to securities traded on foreign exchanges will be higher than commissions relating to securities traded on U.S. exchanges and may not be subject to negotiation. Equity securities may also be purchased from underwriters at prices that include underwriting fees. Purchases and sales of fixed income securities are generally made with an issuer or a primary market maker acting as principal with no stated brokerage commission. The price paid to an underwriter for fixed income securities includes underwriting fees. Prices for fixed income securities in secondary trades usually include undisclosed compensation to the market maker reflecting the spread between the bid and ask prices for the securities.
In selecting broker-dealers, the investment adviser strives to obtain “best execution” (the most favorable total price reasonably attainable under the circumstances) for the fund’s portfolio transactions, taking into account a variety of factors. These factors include the size and type of transaction, the nature and character of the markets for the security to be purchased or sold, the cost, quality, likely speed and reliability of execution and settlement, the broker-dealer’s or execution venue’s ability to offer liquidity and anonymity and the trade-off between market impact and opportunity costs. The investment adviser considers these factors, which involve qualitative judgments, when selecting broker-dealers and execution venues for fund portfolio transactions. The investment adviser views best execution as a process that should be evaluated over time as part of an overall relationship with particular broker-dealer firms. The investment adviser and its affiliates negotiate commission rates with broker-dealers based on what they believe is reasonably necessary to obtain best execution. They seek, on an ongoing basis, to determine what the reasonable levels of commission rates for execution services are in the marketplace, taking various considerations into account, including the extent to which a broker-dealer has put its own capital at risk, historical commission rates and commission rates that other institutional investors are paying. The fund does not consider the investment adviser as having an obligation to obtain the lowest commission rate available for a portfolio transaction to the exclusion of price, service and qualitative considerations. Brokerage commissions are only a small part of total execution costs and other factors, such as market impact and speed of execution, contribute significantly to overall transaction costs.
The investment adviser may execute portfolio transactions with broker-dealers who provide certain brokerage and/or investment research services to it but only when in the investment adviser’s judgment the broker-dealer is capable of providing best execution for that transaction. The investment adviser makes decisions for procurement of research separately and distinctly from decisions on the choice of brokerage and execution services. The receipt of these research services permits the investment adviser to supplement its own research and analysis and makes available the views of, and information from, individuals and the research staffs of other firms. Such views and information may be provided in the form of written reports, telephone contacts and meetings with securities analysts. These services may include, among other things, reports and other communications with respect to individual companies, industries, countries and regions, economic, political and legal developments, as well as scheduling meetings with corporate executives and seminars and conferences related to relevant subject matters. Research services that the investment adviser receives from broker-dealers may be used by the investment adviser in servicing the fund and other funds and accounts that it advises; however, not all such services will necessarily benefit the fund.
The investment adviser bears the cost of all third-party investment research services for all client accounts it advises. However, in order to compensate certain U.S. broker-dealers for research consumed, and valued, by the investment adviser’s investment professionals, the investment adviser continues to operate a limited commission sharing arrangement with commissions on equity trades for certain registered investment companies it advises. The investment adviser voluntarily reimburses such
Washington Mutual Investors Fund — Page 46
registered investment companies for all amounts collected into the commission sharing arrangement. In order to operate the commission sharing arrangement, the investment adviser may cause such registered investment companies to pay commissions in excess of what other broker-dealers might have charged for certain portfolio transactions in recognition of brokerage and/or investment research services. In this regard, the investment adviser has adopted a brokerage allocation procedure consistent with the requirements of Section 28(e) of the Securities Exchange Act of 1934. Section 28(e) permits the investment adviser and its affiliates to cause an account to pay a higher commission to a broker-dealer to compensate the broker-dealer or another service provider for certain brokerage and/or investment research services provided to the investment adviser and its affiliates, if the investment adviser and each affiliate makes a good faith determination that such commissions are reasonable in relation to the value of the services provided by such broker-dealer to the investment adviser and its affiliates in terms of that particular transaction or the investment adviser’s overall responsibility to the fund and other accounts that it advises. Certain brokerage and/or investment research services may not necessarily benefit all accounts paying commissions to each such broker-dealer; therefore, the investment adviser and its affiliates assess the reasonableness of commissions in light of the total brokerage and investment research services provided to the investment adviser and its affiliates. Further, investment research services may be used by all investment associates of the investment adviser and its affiliates, regardless of whether they advise accounts with trading activity that generates eligible commissions.
In accordance with their internal brokerage allocation procedure, the investment adviser and its affiliates periodically assess the brokerage and investment research services provided by each broker-dealer and each other service provider from which they receive such services. As part of its ongoing relationships, the investment adviser and its affiliates routinely meet with firms to discuss the level and quality of the brokerage and research services provided, as well as the value and cost of such services. In valuing the brokerage and investment research services the investment adviser and its affiliates receive from broker-dealers and other research providers in connection with its good faith determination of reasonableness, the investment adviser and its affiliates take various factors into consideration, including the quantity, quality and usefulness of the services to the investment adviser and its affiliates. Based on this information and applying their judgment, the investment adviser and its affiliates set an annual research budget.
Research analysts and portfolio managers periodically participate in a research poll to determine the usefulness and value of the research provided by individual broker-dealers and research providers. Based on the results of this research poll, the investment adviser and its affiliates may, through commission sharing arrangements with certain broker-dealers, direct a portion of commissions paid to a broker-dealer by the fund and other registered investment companies managed by the investment adviser or its affiliates to be used to compensate the broker-dealer and/or other research providers for research services they provide. While the investment adviser and its affiliates may negotiate commission rates and enter into commission sharing arrangements with certain broker-dealers with the expectation that such broker-dealers will be providing brokerage and research services, none of the investment adviser, any of its affiliates or any of their clients incurs any obligation to any broker-dealer to pay for research by generating trading commissions. The investment adviser and its affiliates negotiate prices for certain research that may be paid through commission sharing arrangements or by themselves with cash.
When executing portfolio transactions in the same equity security for the funds and accounts, or portions of funds and accounts, over which the investment adviser, through its equity investment divisions, has investment discretion, each investment division within the adviser and its affiliates normally aggregates its respective purchases or sales and executes them as part of the same transaction or series of transactions. When executing portfolio transactions in the same fixed income security for the fund and the other funds or accounts over which it or one of its affiliated companies has investment discretion, the investment adviser normally aggregates such purchases or sales and executes them as part of the same transaction or series of transactions. The objective of aggregating
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purchases and sales of a security is to allocate executions in an equitable manner among the funds and other accounts that have concurrently authorized a transaction in such security. The investment adviser and its affiliates serve as investment adviser for certain accounts that are designed to be substantially similar to another account. This type of account will often generate a large number of relatively small trades when it is rebalanced to its reference fund due to differing cash flows or when the account is initially started up. The investment adviser may not aggregate program trades or electronic list trades executed as part of this process. Non-aggregated trades performed for these accounts will be allocated entirely to that account. This is done only when the investment adviser believes doing so will not have a material impact on the price or quality of other transactions.
The investment adviser currently owns a minority interest in IEX Group and alternative trading systems, Luminex ATS and LeveL ATS (through a minority interest in their common parent holding company). The investment adviser, or brokers with which the investment adviser places orders, may place orders on these or other exchanges or alternative trading systems in which it, or one of its affiliates, has an ownership interest, provided such ownership interest is less than five percent of the total ownership interests in the entity. The investment adviser is subject to the same best execution obligations when trading on any such exchange or alternative trading systems.
Purchase and sale transactions may be effected directly among and between certain funds or accounts advised by the investment adviser or its affiliates, including the fund. The investment adviser maintains cross-trade policies and procedures and places a cross-trade only when such a trade is in the best interest of all participating clients and is not prohibited by the participating funds’ or accounts’ investment management agreement or applicable law.
The investment adviser may place orders for the fund’s portfolio transactions with broker-dealers who have sold shares of the funds managed by the investment adviser or its affiliated companies; however, it does not consider whether a broker-dealer has sold shares of the funds managed by the investment adviser or its affiliated companies when placing any such orders for the fund’s portfolio transactions.
Purchases and sales of futures contracts for the fund will be effected through executing brokers and FCMs that specialize in the types of futures contracts that the fund expects to hold. The investment adviser will use reasonable efforts to choose executing brokers and FCMs capable of providing the services necessary to obtain the most favorable price and execution available. The full range and quality of services available will be considered in making these determinations. The investment adviser will monitor the executing brokers and FCMs used for purchases and sales of futures contracts for their ability to execute trades based on many factors, such as the sizes of the orders, the difficulty of executions, the operational facilities of the firm involved and other factors.
Forward currency contracts are traded directly between currency traders (usually large commercial banks) and their customers. The cost to the fund of engaging in such contracts varies with factors such as the currency involved, the length of the contract period and the market conditions then prevailing. Because such contracts are entered into on a principal basis, their prices usually include undisclosed compensation to the market maker reflecting the spread between the bid and ask prices for the contracts. The fund may incur additional fees in connection with the purchase or sale of certain contracts.
Brokerage commissions (net of any reimbursements described below) paid on portfolio transactions for the fiscal years ended April 30, 2026, 2025 and 2024 amounted to $17,061,000, $17,928,000 and $18,481,000, respectively. The investment adviser is reimbursing the fund for all amounts collected into the commission sharing arrangement. For the fiscal years ended April 30, 2026, 2025 and 2024, the investment adviser reimbursed the fund $2,331,000, $2,536,000 and $2,317,000, respectively, for commissions paid to broker-dealers through a commission sharing arrangement to compensate such broker-dealers for research services. Changes in the dollar amount of brokerage commissions paid by
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the fund over the last three fiscal years resulted from changes in the volume of trading activity and/or the amount of commissions used to pay for research services through a commission sharing arrangement.
The fund is required to disclose information regarding investments in the securities of its “regular” broker-dealers (or parent companies of its regular broker-dealers) that derive more than 15% of their revenue from broker-dealer, underwriter or investment adviser activities. A regular broker-dealer is (a) one of the 10 broker-dealers that received from the fund the largest amount of brokerage commissions by participating, directly or indirectly, in the fund’s portfolio transactions during the fund’s most recently completed fiscal year; (b) one of the 10 broker-dealers that engaged as principal in the largest dollar amount of portfolio transactions of the fund during the fund’s most recently completed fiscal year; or (c) one of the 10 broker-dealers that sold the largest amount of securities of the fund during the fund’s most recently completed fiscal year.
At the end of the fund’s most recently completed fiscal year, the fund’s regular broker-dealers included Bank of America, N.A., Citigroup Inc., Goldman Sachs Group, Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC. At the end of the fund’s most recently completed fiscal year, the fund held equity securities of Bank of America, N.A. in the amount of $3,423,626,000, Citigroup Inc. in the amount of $467,127,000, Goldman Sachs Group, Inc. in the amount of $283,120,000, J.P. Morgan Securities LLC in the amount of $3,093,546,000, Morgan Stanley & Co. LLC in the amount of $732,875,000 and Wells Fargo Securities, LLC in the amount of $975,226,000.
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Disclosure of portfolio holdings
The fund’s investment adviser, on behalf of the fund, has adopted policies and procedures with respect to the disclosure of information about fund portfolio securities. These policies and procedures have been reviewed by the fund’s board of trustees, and compliance will be periodically assessed by the board in connection with reporting from the fund’s Chief Compliance Officer.
Under these policies and procedures, the fund’s complete list of portfolio holdings available for public disclosure, dated as of the end of each calendar quarter, is permitted to be posted on the Capital Group website no earlier than the 10th day after such calendar quarter. In practice, the publicly disclosed portfolio is typically posted on the Capital Group website within 30 days after the end of the calendar quarter. The publicly disclosed portfolio may exclude certain securities when deemed to be in the best interest of the fund as permitted by applicable regulations. In addition, the fund’s list of top 10 portfolio holdings measured by percentage of net assets, dated as of the end of each calendar month, is permitted to be posted on the Capital Group website no earlier than the 10th day after such month for equity securities, and no earlier than the 30th day after such month for fixed income securities. The fund’s list of top 10 portfolio holdings for equity and fixed income securities is permitted to be posted no earlier than the 10th day after the final month of each calendar quarter. For multi-asset funds, the fund’s list of top 10 portfolio holdings for equity and fixed income securities is permitted to be posted each month, no earlier than the 10th day after such month. Such portfolio holdings information may be disclosed to any person pursuant to an ongoing arrangement to disclose portfolio holdings information to such person no earlier than one day after the day on which the information is posted on the Capital Group website. The investment adviser may disclose individual holdings more frequently on the Capital Group website if it determines it is in the best interest of the fund.
Certain intermediaries are provided additional information about the fund’s management team, including information on the fund’s portfolio securities they have selected. This information is provided to larger intermediaries that require the information to make the fund available for investment on the firm’s platform. Intermediaries receiving the information are required to keep it confidential and use it only to analyze the fund.
The fund’s custodian, outside counsel, auditor, financial printers, proxy voting and class action claims processing service providers, pricing information vendors, consultants or agents operating under a contract with the investment adviser or its affiliates, co-litigants (such as in connection with a bankruptcy proceeding related to a fund holding) and certain other third parties described below, each of which requires portfolio holdings information for legitimate business and fund oversight purposes, may receive fund portfolio holdings information earlier. See the “General information” section in this statement of additional information for further information about the fund’s custodian, outside counsel and auditor.
The fund‘s portfolio holdings, dated as of the end of each calendar month, are made available to up to 20 key broker-dealer relationships and up to 10 key global consulting firms with research departments to help them evaluate the fund for eligibility on approved lists or in model portfolios. These firms include certain of those listed under the “Other compensation to dealers” section of this statement of additional information and certain broker-dealer firms that offer trading platforms for registered investment advisers. Monthly holdings may be provided to these intermediaries no earlier than the 10th day after the end of the calendar month. In practice, monthly holdings are provided within 30 days after the end of the calendar month. Holdings may also be disclosed more frequently to certain statistical and data collection agencies including Morningstar, Lipper, Inc., Value Line, Vickers Stock Research, Bloomberg and Thomson Financial Research. Intermediaries receiving the information are required to keep it confidential and use it only to analyze the fund.
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Affiliated persons of the fund, including officers of the fund and employees of the investment adviser and its affiliates, who receive portfolio holdings information are subject to restrictions and limitations on the use and handling of such information pursuant to applicable codes of ethics, including requirements not to trade in securities based on confidential and proprietary investment information, to maintain the confidentiality of such information, and to pre-clear securities trades and report securities transactions activity, as applicable. For more information on these restrictions and limitations, please see the “Code of ethics” section in this statement of additional information and the Code of Ethics. Third-party service providers of the fund and other entities, as described in this statement of additional information, receiving such information are subject to confidentiality obligations and obligations that would prohibit them from trading in securities based on such information. When portfolio holdings information is disclosed other than through the Capital Group website to persons not affiliated with the fund, such persons will be bound by agreements (including confidentiality agreements) or fiduciary or other obligations that restrict and limit their use of the information to legitimate business uses only. None of the fund, its investment adviser or any of their affiliates receives compensation or other consideration in connection with the disclosure of information about portfolio securities.
Subject to board policies, the authority to disclose a fund’s portfolio holdings, and to establish policies with respect to such disclosure, resides with the appropriate investment-related committees of the fund’s investment adviser. In exercising their authority, the committees determine whether disclosure of information about the fund’s portfolio securities is appropriate and in the best interest of fund shareholders. The investment adviser has implemented policies and procedures to address conflicts of interest that may arise from the disclosure of fund holdings. For example, the investment adviser’s code of ethics specifically requires, among other things, the safeguarding of information about fund holdings and contains prohibitions designed to prevent the personal use of confidential, proprietary investment information in a way that would conflict with fund transactions. In addition, the investment adviser believes that its current policy of not selling portfolio holdings information and not disclosing such information to unaffiliated third parties until such holdings have been made public on the Capital Group website (other than to certain fund service providers and other third parties for legitimate business and fund oversight purposes) helps reduce potential conflicts of interest between fund shareholders and the investment adviser and its affiliates.
The fund’s investment adviser and its affiliates provide investment advice to individuals and financial intermediaries that have investment objectives that may be substantially similar to those of the fund. These clients also may have portfolios consisting of holdings substantially similar to those of the fund and generally have access to current portfolio holdings information for their accounts. These clients do not owe the fund’s investment adviser or the fund a duty of confidentiality with respect to disclosure of their portfolio holdings.
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Price of shares
Shares are purchased at the offering price or sold at the net asset value price next determined after the purchase or sell order is received by the fund or the Transfer Agent provided that your request contains all information and legal documentation necessary to process the transaction. The Transfer Agent may accept written orders for the sale of fund shares on a future date. These orders are subject to the Transfer Agent’s policies, which generally allow shareholders to provide a written request to sell shares at the net asset value on a specified date no more than five business days after receipt of the order by the Transfer Agent. Any request to sell shares on a future date will be rejected if the request is not in writing, if the requested transaction date is more than five business days after the Transfer Agent receives the request or if the request does not contain all information and legal documentation necessary to process the transaction.
The offering or net asset value price is effective for orders received prior to the time of determination of the net asset value and, in the case of orders placed with dealers or their authorized designees, accepted by the Principal Underwriter, the Transfer Agent, a dealer or any of their designees. In the case of orders sent directly to the fund or the Transfer Agent, an investment dealer should be indicated. The dealer is responsible for promptly transmitting purchase and sell orders to the Principal Underwriter.
Prices that appear in newspapers and websites do not always indicate prices at which you will be purchasing and redeeming shares of the fund, since such prices generally reflect the previous day’s closing price, while purchases and redemptions are made at the next calculated price. The price you pay for shares, the offering price, is based on the net asset value per share. Net asset value is computed by adding the value of a fund’s investments, cash or other assets, subtracting the fund’s liabilities, and dividing the result by the number of shares that are outstanding. Realized investment income and gain is included in the fund’s net asset value until the ex-dividend date, when the declared dividend amount is treated as a fund liability. The net asset value is calculated once daily as of the close of regular trading on the New York Stock Exchange, normally 4 p.m. New York time, each day the New York Stock Exchange is open. If the New York Stock Exchange makes a scheduled (e.g., the day after Thanksgiving) or an unscheduled close prior to 4 p.m. New York time, the net asset value of the fund will be determined at approximately the time the New York Stock Exchange closes on that day. If on such a day market quotations and prices from third-party pricing services are not based as of the time of the early close of the New York Stock Exchange but are as of a later time (up to approximately 4 p.m. New York time), for example because the market remains open after the close of the New York Stock Exchange, those later market quotations and prices will be used in determining the fund’s net asset value.
Orders in good order received after the New York Stock Exchange closes (scheduled or unscheduled) will be processed at the net asset value (plus any applicable sales charge) calculated on the following business day. The New York Stock Exchange is currently closed on weekends and on the following holidays: New Year’s Day; Martin Luther King Jr. Day; Presidents’ Day; Good Friday; Memorial Day; Juneteenth National Independence Day; Independence Day; Labor Day; Thanksgiving Day; and Christmas Day. Each share class of the fund has a separately calculated net asset value (and share price).
Orders received by the investment dealer or authorized designee, the Transfer Agent or the fund after the time of the determination of the net asset value will be entered at the next calculated offering price. Note that investment dealers or other intermediaries may have their own rules about share transactions and may have earlier cut-off times than those of the fund. For more information about how to purchase through your intermediary, contact your intermediary directly.
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All portfolio securities of funds managed by Capital Research and Management Company (other than American Funds U.S. Government Money Market Fund) are valued, and the net asset values per share for each share class are determined, as indicated below. The fund follows standard industry practice by typically reflecting changes in its holdings of portfolio securities on the first business day following a portfolio trade.
Equity securities, including depositary receipts, exchange-traded funds, and certain convertible preferred stocks that trade on an exchange or market, are generally valued at the official closing price of, or the last reported sale price on, the exchange or market on which such securities are traded, as of the close of business on the day the securities are being valued or, lacking any sales, at the last available bid price. Prices for each security are taken from the principal exchange or market on which the security trades.
Exchange-traded options and futures are generally valued at the official closing price for options and official settlement price for futures on the exchange or market on which such instruments are traded, as of the close of business on the day such instruments are being valued.
Fixed income securities, including short-term securities, are generally valued at evaluated prices obtained from third-party pricing vendors. Vendors value such securities based on one or more inputs that may include, among other things, benchmark yields, transactions, bids, offers, quotations from dealers and trading systems, new issues, underlying equity of the issuer, interest rate volatilities, spreads and other relationships observed in the markets among comparable securities and proprietary pricing models such as yield measures calculated using factors such as cash flows, prepayment information, default rates, delinquency and loss assumptions, financial or collateral characteristics or performance, credit enhancements, liquidation value calculations, specific deal information and other reference data.
Forward currency contracts are valued based on the spot and forward exchange rates obtained from a third-party pricing vendor.
Futures contracts are generally valued at the official settlement price of, or the last reported sale price on, the principal exchange or market on which such instruments are traded, as of the close of business on the day the contracts are being valued or, lacking any sales, at the last available bid price.
Securities and other assets for which representative market quotations are not readily available or are considered unreliable by the investment adviser are valued at fair value as determined in good faith under fair value guidelines adopted by the investment adviser and approved by the fund’s board. Subject to board oversight, the fund’s board has designated the fund’s investment adviser to make fair valuation determinations, which are directed by a valuation committee established by the fund’s investment adviser. The board receives regular reports describing fair valued securities and the valuation methods used.
As a general principle, these guidelines consider relevant company, market and other data and considerations to determine the price that the fund might reasonably expect to receive if such fair valued securities were sold in an orderly transaction. Fair valuations may differ materially from valuations that would have been used had greater market activity occurred. The investment adviser’s valuation committee considers relevant indications of value that are reasonably and timely available to it in determining the fair value to be assigned to a particular security, such as the type and cost of the security, restrictions on resale of the security, relevant financial or business developments of the issuer, actively traded similar or related securities and transactions, dealer or broker quotes, conversion or exchange rights on the security, related corporate actions, significant events occurring after the close of trading in the security and changes in overall market conditions. The valuation committee employs additional fair value procedures to address issues related to equity securities that trade principally in
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markets outside the United States. Such securities may trade in markets that open and close at different times, reflecting time zone differences. If significant events occur after the close of a market (and before the fund’s net asset values are next determined) which affect the value of equity securities held in the fund’s portfolio, appropriate adjustments from closing market prices may be made to reflect these events. Events of this type could include, for example, earthquakes and other natural disasters or significant price changes in other markets (e.g., U.S. stock markets).
Certain short-term securities, such as variable rate demand notes or repurchase agreements involving securities fully collateralized by cash or U.S. government securities, are valued at par.
Assets and liabilities, including investment securities, denominated in currencies other than U.S. dollars are translated into U.S. dollars, prior to the next determination of the net asset value of the fund’s shares, at the exchange rates obtained from a third-party pricing vendor.
Each class of shares represents interests in the same portfolio of investments and is identical in all respects to each other class, except for differences relating to distribution, service and other charges and expenses, certain voting rights, differences relating to eligible investors, the designation of each class of shares, conversion features and exchange privileges. Expenses attributable to the fund, but not to a particular class of shares, are borne by each class pro rata based on the relative aggregate net assets of the classes. Expenses directly attributable to a class of shares are borne by that class of shares. Liabilities attributable to particular share classes, such as liabilities for repurchase of fund shares, are deducted from total assets attributable to such share classes.
Net assets so obtained for each share class are then divided by the total number of shares outstanding of that share class, and the result, rounded to the nearest cent, is the net asset value per share for that class.
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Taxes and distributions
Disclaimer: Some of the following information may not apply to certain shareholders, including those holding fund shares in a tax-favored account, such as a retirement plan or education savings account. Shareholders should consult their tax advisors about the application of federal, state and local tax law in light of their particular situation.
Taxation as a regulated investment company — The fund intends to qualify each year as a “regulated investment company” under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), so that it will not be liable for federal tax on income and capital gains distributed to shareholders. In order to qualify as a regulated investment company, and avoid being subject to federal income taxes, the fund intends to distribute substantially all of its net investment income and realized net capital gains on a fiscal year basis, and intends to comply with other tests applicable to regulated investment companies under Subchapter M.
The Code includes savings provisions allowing the fund to cure inadvertent failures of certain qualification tests required under Subchapter M. However, should the fund fail to qualify under Subchapter M, the fund would be subject to federal, and possibly state, corporate taxes on its taxable income and gains.
Amounts not distributed by the fund on a timely basis in accordance with a calendar year distribution requirement may be subject to a nondeductible 4% excise tax. Unless an applicable exception applies, to avoid the tax, the fund must distribute during each calendar year an amount equal to the sum of (a) at least 98% of its ordinary income (not taking into account any capital gains or losses) for the calendar year, (b) at least 98.2% of its capital gains in excess of its capital losses for the twelve month period ending on October 31, and (c) all ordinary income and capital gains for previous years that were not distributed during such years and on which the fund paid no U.S. federal income tax.
Dividends paid by the fund from ordinary income or from an excess of net short-term capital gain over net long-term capital loss are taxable to shareholders as ordinary income dividends. Shareholders of the fund that are individuals and meet certain holding period requirements with respect to their fund shares may be eligible for reduced tax rates on “qualified dividend income,” if any, distributed by the fund to such shareholders.
The fund may declare a capital gain distribution consisting of the excess of net realized long-term capital gains over net realized short-term capital losses. Net capital gains for a fiscal year are computed by taking into account any capital loss carryforward of the fund.
The fund may retain a portion of net capital gain for reinvestment and may elect to treat such capital gain as having been distributed to shareholders of the fund. Shareholders may receive a credit for the tax that the fund paid on such undistributed net capital gain and would increase the basis in their shares of the fund by the difference between the amount of includible gains and the tax deemed paid by the shareholder.
Distributions of net capital gain that the fund properly reports as a capital gain distribution generally will be taxable as long-term capital gain, regardless of the length of time the shares of the fund have been held by a shareholder. Any loss realized upon the redemption of shares held at the time of redemption for six months or less from the date of their purchase will be treated as a long-term capital loss to the extent of any capital gain distributions (including any undistributed amounts treated as distributed capital gains, as described above) during such six-month period.
Capital gain and income distributions by the fund result in a reduction in the net asset value of the fund’s shares. Investors should consider the tax implications of buying shares prior to a distribution.
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The price of shares purchased at that time may include the amount of a forthcoming distribution. Those purchasing fund shares at a time when the fund has realized but not yet distributed income or capital gains that is reflected in the price of the shares will subsequently receive a partial return of their investment capital upon payment of the distribution, which will be taxable to them as a dividend or other fund distribution, as described above.
Individuals (and certain other non-corporate entities) are generally eligible for a 20% deduction with respect to taxable ordinary REIT dividends. Applicable Treasury regulations allow the fund to pass through to its shareholders such taxable ordinary REIT dividends. Accordingly, individual (and certain other non-corporate) shareholders of the fund that have received such taxable ordinary REIT dividends may be able to take advantage of this 20% deduction with respect to any such amounts passed through.
Redemptions and exchanges of fund shares — Redemptions of shares, including exchanges for shares of other American Funds, may result in federal, state and local tax consequences (gain or loss) to the shareholder.
Any loss realized on a redemption or exchange of shares of the fund will be disallowed to the extent substantially identical shares are reacquired within the 61-day period beginning 30 days before and ending 30 days after the shares are disposed of. Any loss disallowed under this rule will be added to the shareholder’s tax basis in the new shares purchased.
If a shareholder exchanges or otherwise disposes of shares of the fund within 90 days of having acquired such shares, and if, as a result of having acquired those shares, the shareholder subsequently pays a reduced or no sales charge for shares of the fund, or of a different fund acquired before January 31st of the year following the year the shareholder exchanged or otherwise disposed of the original fund shares, the sales charge previously incurred in acquiring the fund’s shares will not be taken into account (to the extent such previous sales charges do not exceed the reduction in sales charges) for the purposes of determining the amount of gain or loss on the exchange, but will be treated as having been incurred in the acquisition of such other fund(s).
Tax consequences of investing in non-U.S. securities — Dividend and interest income received by the fund from sources outside the United States may be subject to withholding and other taxes imposed by such foreign jurisdictions. Tax conventions between certain countries and the United States, however, may reduce or eliminate these foreign taxes. Some foreign countries impose taxes on capital gains with respect to investments by foreign investors.
If more than 50% of the value of the total assets of the fund at the close of the taxable year consists of securities of foreign corporations, the fund may elect to pass through to shareholders the foreign taxes paid by the fund. If such an election is made, shareholders may claim a credit or deduction on their federal income tax returns for, and will be required to treat as part of the amounts distributed to them, their pro rata portion of qualified taxes paid by the fund to foreign countries. The application of the foreign tax credit depends upon the particular circumstances of each shareholder.
Foreign currency gains and losses, including the portion of gain or loss on the sale of debt securities attributable to fluctuations in foreign exchange rates, are generally taxable as ordinary income or loss. These gains or losses may increase or decrease the amount of dividends payable by the fund to shareholders. A fund may elect to treat gain and loss on certain foreign currency contracts as capital gain and loss instead of ordinary income or loss.
If the fund invests in stock of certain passive foreign investment companies (PFICs), the fund intends to mark-to-market these securities and recognize any gains at the end of its fiscal and excise tax years. Deductions for losses are allowable only to the extent of any previously recognized gains. Both gains
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and losses will be treated as ordinary income or loss, and the fund is required to distribute any resulting income. If the fund is unable to identify an investment as a PFIC security and thus does not make a timely mark-to-market election, the fund may be subject to adverse tax consequences.
Tax consequences of investing in derivatives — The fund may enter into transactions involving derivatives, such as futures. Special tax rules may apply to these types of transactions that could defer losses to the fund, accelerate the fund’s income, alter the holding period of certain securities or change the classification of capital gains. These tax rules may therefore impact the amount, timing and character of fund distributions.
Other tax considerations — After the end of each calendar year, individual shareholders holding fund shares in taxable accounts will receive a statement of the federal income tax status of all distributions. Shareholders of the fund also may be subject to state and local taxes on distributions received from the fund.
For fund shares acquired on or after January 1, 2012, the fund is required to report cost basis information for redemptions, including exchanges, to both shareholders and the IRS.
Shareholders may obtain more information about cost basis online at capitalgroup.com/costbasis.
Under the backup withholding provisions of the Code, the fund generally will be required to withhold federal income tax on all payments made to a shareholder if the shareholder either does not furnish the fund with the shareholder’s correct taxpayer identification number or fails to certify that the shareholder is not subject to backup withholding. Backup withholding also applies if the IRS notifies the shareholder or the fund that the taxpayer identification number provided by the shareholder is incorrect or that the shareholder has previously failed to properly report interest or dividend income.
The foregoing discussion of U.S. federal income tax law relates solely to the application of that law to U.S. persons (i.e., U.S. citizens and legal residents and U.S. corporations, partnerships, trusts and estates). Each shareholder who is not a U.S. person should consider the U.S. and foreign tax consequences of ownership of shares of the fund, including the possibility that such a shareholder may be subject to U.S. withholding taxes.
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Unless otherwise noted, all references in the following pages to Class A, C or F shares also refer to the corresponding Class 529-A, 529-C or 529-F shares. Class 529 shareholders should also refer to the applicable program description for information on policies and services specifically relating to these accounts. Shareholders holding shares through an eligible retirement plan should contact their plan’s administrator or recordkeeper for information regarding purchases, sales and exchanges.
Purchase and exchange of shares
Purchases by individuals — As described in the prospectus, you may generally open an account and purchase fund shares by contacting a financial professional or investment dealer authorized to sell the fund’s shares. You may make investments by any of the following means:
Contacting your financial professional — Deliver or mail a check to your financial professional.
By mail — For initial investments, you may mail a check, made payable to the fund, directly to the address indicated on the account application. Please indicate an investment dealer on the account application. You may make additional investments by filling out the “Account Additions” form at the bottom of a recent transaction confirmation and mailing the form, along with a check made payable to the fund, using the envelope provided with your confirmation.
The amount of time it takes for us to receive regular U.S. postal mail may vary and there is no assurance that we will receive such mail on the day you expect. Mailing addresses for regular U.S. postal mail can be found in the prospectus. To send investments or correspondence to us via overnight mail or courier service, use either of the following addresses:
American Funds
12711 North Meridian Street
Carmel, IN 46032-9181
American Funds
5300 Robin Hood Road
Norfolk, VA 23513-2407
By telephone — Calling American Funds Service Company. Please see the “Shareholder account services and privileges” section of this statement of additional information for more information regarding this service.
By Internet — Using capitalgroup.com. Please see the “Shareholder account services and privileges” section of this statement of additional information for more information regarding this service.
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By wire — If you are making a wire transfer, instruct your bank to wire funds to:
Wells Fargo Bank
ABA Routing No. 121000248
Account No. 4600-076178
Your bank should include the following information when wiring funds:
For credit to the account of:
American Funds Service Company
(fund’s name)
For further credit to:
(shareholder’s fund account number)
(shareholder’s name)
You may contact American Funds Service Company at (800) 421-4225 if you have questions about making wire transfers.
Other purchase information — Class 529 shares may be purchased only through CollegeAmerica by investors establishing qualified higher education savings accounts. Class 529-E shares may be purchased only by investors participating in CollegeAmerica through an eligible employer plan. American Funds state tax-exempt funds are qualified for sale only in certain jurisdictions, and tax-exempt funds in general should not serve as retirement plan investments. In addition, the fund and the Principal Underwriter reserve the right to reject any purchase order.
Class R-5 and R-6 shares may be made available to certain charitable foundations organized and maintained by The Capital Group Companies, Inc. or its affiliates. Class R-6 shares are also available to corporate investment accounts established by The Capital Group Companies, Inc. and its affiliates.
Class R-5 and R-6 shares may also be made available to Commonwealth Savers Plan for use in the Virginia Education Savings Trust and the Virginia Prepaid Education Program and other registered investment companies approved by the fund’s investment adviser or distributor. Class R-6 shares are also available to other post employment benefits plans.
Purchase minimums and maximums — All investments are subject to the purchase minimums and maximums described in the prospectus. As noted in the prospectus, purchase minimums may be waived or reduced in certain cases.
In the case of American Funds non-tax-exempt funds, the initial purchase minimum of $250 may be waived for the following account types:
· Payroll deduction retirement plan accounts (such as, but not limited to, 403(b), 401(k), SIMPLE IRA, SARSEP and deferred compensation plan accounts); and
· Employer-sponsored CollegeAmerica accounts.
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The following account types may be established without meeting the initial purchase minimum:
· Retirement accounts that are funded with employer contributions; and
· Accounts that are funded with monies set by court decree.
The following account types may be established without meeting the initial purchase minimum, but shareholders wishing to invest in two or more funds must meet the normal initial purchase minimum of each fund:
· Accounts that are funded with (a) transfers of assets, (b) rollovers from retirement plans, (c) rollovers from 529 college savings plans or (d) required minimum distribution automatic exchanges; and
· American Funds U.S. Government Money Market Fund accounts registered in the name of clients of Capital Group Private Client Services.
Certain accounts held on the fund’s books, known as omnibus accounts, contain multiple underlying accounts that are invested in shares of the fund. These underlying accounts are maintained by entities such as financial intermediaries and are subject to the applicable initial purchase minimums as described in the prospectus and this statement of additional information. However, in the case where the entity maintaining these accounts aggregates the accounts’ purchase orders for fund shares, such accounts are not required to meet the fund’s minimum amount for subsequent purchases.
Exchanges — You may only exchange shares without a sales charge into other American Funds and Capital Group KKR Public-Private+ Funds (collectively “Capital Group Funds”) within the same share class; however, Class A, C or F shares may also generally be exchanged without a sales charge for the corresponding 529 share class. Clients of Capital Group Private Client Services may exchange the shares of the fund for those of any other fund(s) managed by Capital Research and Management Company or its affiliates.
Notwithstanding the above, exchanges from Class A shares of American Funds U.S. Government Money Market Fund may be made to Class C shares of other American Funds for dollar cost averaging purposes.
Exchange purchases are subject to the minimum investment requirements of the fund purchased and no sales charge generally applies. However, exchanges of shares from American Funds U.S. Government Money Market Fund are subject to applicable sales charges, unless the American Funds U.S. Government Money Market Fund shares were acquired by an exchange from a fund having a sales charge, or by reinvestment or cross-reinvestment of dividends or capital gain distributions.
Exchanges of Class F shares generally may only be made through fee-based programs of investment firms that have special agreements with the fund’s distributor and certain registered investment advisors.
You may exchange shares of other classes by contacting your financial professional by calling American Funds Service Company at (800) 421-4225 or using capitalgroup.com, or faxing (see “American Funds Service Company service areas” in the prospectus for the appropriate fax numbers) the Transfer Agent. For more information, see “Shareholder account services and privileges” in this statement of additional information. These transactions have the same tax consequences as ordinary sales and purchases.
Shares held in employer-sponsored retirement plans may be exchanged into other Capital Group Funds by contacting your plan administrator or recordkeeper. Exchange redemptions and purchases
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are processed simultaneously at the share prices next determined after the exchange order is received (see “Price of shares” in this statement of additional information).
Conversion — Class C shares of the fund automatically convert to Class A shares in the month of the 8-year anniversary of the purchase date. Class 529-C shares of the fund automatically convert to Class 529-A shares in the month of the 5-year anniversary of the purchase date. The board of trustees of the fund reserves the right at any time, without shareholder approval, to amend the conversion features of the Class C and Class 529-C shares, including without limitation, providing for conversion into a different share class or for no conversion. In making its decision, the board of trustees will consider, among other things, the effect of any such amendment on shareholders.
Frequent trading of fund shares — As noted in the prospectus, certain redemptions may trigger a restriction under the fund’s “frequent trading policy.” Under this policy, systematic redemptions will not trigger a restriction and systematic purchases will not be prevented if the entity maintaining the shareholder account is able to identify the transaction as a systematic redemption or purchase. For purposes of this policy, systematic redemptions include, for example, regular periodic automatic redemptions and statement of intention escrow share redemptions. Systematic purchases include, for example, regular periodic automatic purchases and automatic reinvestments of dividends and capital gain distributions. Generally, purchases and redemptions will not be considered “systematic” unless the transaction is prescheduled for a specific date.
Potentially abusive activity — American Funds Service Company will monitor for the types of activity that could potentially be harmful to the American Funds — for example, short-term trading activity in multiple funds. When identified, American Funds Service Company will request that the shareholder discontinue the activity. If the activity continues, American Funds Service Company will freeze the shareholder account to prevent all activity other than redemptions of fund shares.
Moving between share classes
If you wish to “move” your investment between share classes (within the same fund or between different funds), we generally will process your request as an exchange of the shares you currently hold for shares in the new class or fund. Below is more information about how sales charges are handled for various scenarios.
Exchanging Class C shares for Class A shares — If you exchange Class C shares for Class A shares, you are still responsible for paying any Class C contingent deferred sales charges and applicable Class A sales charges.
Exchanging Class C shares for Class F shares — If you are part of a qualified fee-based program or approved self-directed platform and you wish to exchange your Class C shares for Class F shares to be held in the program, you are still responsible for paying any applicable Class C contingent deferred sales charges.
Exchanging Class F shares for Class A shares — You can exchange Class F shares held in a qualified fee-based program for Class A shares without paying an initial Class A sales charge if you are leaving or have left the fee-based program. Your financial intermediary can also convert Class F-1 shares to Class A shares without a sales charge if they are held in a brokerage account and they were initially transferred to the account or converted from Class C shares. You can exchange Class F shares received in a conversion from Class C shares for Class A shares at any time without paying an initial Class A sales charge if you notify American Funds Service Company of the conversion when you make your request. If you have already redeemed your Class F shares, the foregoing requirements apply and you must purchase Class
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A shares within 90 days after redeeming your Class F shares to receive the Class A shares without paying an initial Class A sales charge.
Exchanging Class A shares for Class F shares — If you are part of a qualified fee-based program or approved self-directed platform and you wish to exchange your Class A shares for Class F shares to be held in the program, any Class A sales charges (including contingent deferred sales charges) that you paid or are payable will not be credited back to your account.
Exchanging Class A shares for Class R shares — Provided it is eligible to invest in Class R shares, a retirement plan currently invested in Class A shares may exchange its shares for Class R shares. Any Class A sales charges that the retirement plan previously paid will not be credited back to the plan’s account. No contingent deferred sales charge will be assessed as part of the share class conversion.
Moving between Class F shares — If you are part of a qualified fee-based program that offers Class F shares, you may exchange your Class F shares for any other Class F shares to be held in the program. For example, if you hold Class F-2 shares, you may exchange your shares for Class F-1 or Class F-3 shares to be held in the program.
Moving between other share classes — If you desire to move your investment between share classes and the particular scenario is not described in this statement of additional information, please contact American Funds Service Company at (800) 421-4225 for more information.
Non-reportable transactions — Automatic conversions described in the prospectus will be non-reportable for tax purposes. In addition, an exchange of shares from one share class of a fund to another share class of the same fund will be treated as a non-reportable exchange for tax purposes, provided that the exchange request is received in writing by American Funds Service Company and processed as a single transaction. However, a movement between a 529 share class and a non-529 share class of the same fund will be reportable.
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Sales charges
Class A purchases
Purchases by certain 403(b) plans
A 403(b) plan may not invest in American Funds Class A or C shares unless such plan was invested in Class A or C shares before January 1, 2009.
Participant accounts of a 403(b) plan that invested in American Funds Class A or C shares and were treated as an individual-type plan for sales charge purposes before January 1, 2009, may continue to be treated as accounts of an individual-type plan for sales charge purposes. Participant accounts of a 403(b) plan that invested in American Funds Class A or C shares and were treated as an employer-sponsored plan for sales charge purposes before January 1, 2009, may continue to be treated as accounts of an employer-sponsored plan for sales charge purposes. Participant accounts of a 403(b) plan that was established on or after January 1, 2009, are treated as accounts of an employer-sponsored plan for sales charge purposes.
Purchases by SEP plans and SIMPLE IRA plans
Participant accounts in a Simplified Employee Pension (SEP) plan or a Savings Incentive Match Plan for Employees of Small Employers IRA (SIMPLE IRA) will be aggregated at the plan level for Class A sales charge purposes if an employer adopts a prototype plan produced by Capital Client Group, Inc. or (a) the employer or plan sponsor submits all contributions for all participating employees in a single contribution transmittal or the contributions are identified as related to the same plan; (b) each transmittal is accompanied by checks or wire transfers and generally must be submitted through the transfer agent’s automated contribution system if held on the fund’s books; and (c) if the fund is expected to carry separate accounts in the name of each plan participant and (i) the employer or plan sponsor notifies the funds’ transfer agent or the intermediary holding the account that the separate accounts of all plan participants should be linked and (ii) all new participant accounts are established by submitting the appropriate documentation on behalf of each new participant. Participant accounts in a SEP or SIMPLE plan that are eligible to aggregate their assets at the plan level may not also aggregate the assets with their individual accounts.
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Other purchases
In addition, American Funds Class A and Class 529-A shares may be offered at net asset value to companies exchanging securities with the fund through a merger, acquisition or exchange offer and to certain individuals meeting the criteria described above who invested in Class A and Class 529-A shares before Class F-2 and Class 529-F-2 shares were made available under this privilege.
Transfers to CollegeAmerica — A transfer from the Virginia Prepaid Education ProgramSM or the Virginia Education Savings TrustSM to a CollegeAmerica account will be made with no sales charge. No commission will be paid to the dealer on such a transfer. Investment dealers will be compensated solely with an annual service fee that begins to accrue immediately.
Class F-2 and Class 529-F-2 purchases
If requested, American Funds Class F-2 and Class 529-F-2 shares will be sold to:
|
(1) |
current or retired directors, trustees, officers and advisory board members of, and certain lawyers who provide services to the funds managed by Capital Research and Management Company, current or retired employees of The Capital Group Companies, Inc. and its affiliated companies, certain family members of the above persons, and trusts or plans primarily for such persons; and | |
|
(2) |
The Capital Group Companies, Inc. and its affiliated companies. |
Once an account in Class F-2 or Class 529-F-2 is established under this privilege, additional investments can be made in Class F-2 or Class 529-F-2 for the life of the account. Depending on the financial intermediary holding your account, these privileges may be unavailable. Investors should consult their financial intermediary for further information.
Moving between accounts — American Funds investments by certain account types may be moved to other account types without incurring additional Class A sales charges. These transactions include:
· redemption proceeds from a non-retirement account (for example, a joint tenant account) used to purchase fund shares in an IRA or other individual-type retirement account;
· required minimum distributions from an IRA or other individual-type retirement account used to purchase fund shares in a non-retirement account; and
· death distributions paid to a beneficiary’s account that are used by the beneficiary to purchase fund shares in a different account.
Investors may not move investments from a Capital Bank & Trust Company SIMPLE IRA Plus to a Capital Bank & Trust Company SIMPLE IRA unless it is part of a plan transfer or to a current employer’s Capital Bank & Trust Company SIMPLE IRA plan.
These privileges are generally available only if your account is held directly with the fund’s transfer agent or if the financial intermediary holding your account has the systems, policies and procedures to support providing the privileges on its systems. Investors should consult their financial intermediary for further information.
Loan repayments — Repayments on loans taken from a retirement plan are not subject to sales charges if American Funds Service Company is notified of the repayment.
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Dealer commissions and compensation — Commissions (up to 1.00%) are paid to dealers who initiate and are responsible for certain Class A share purchases not subject to initial sales charges. These purchases consist of a) purchases of $1 million or more, and b) purchases by employer-sponsored defined contribution-type retirement plans investing $1 million or more or with 100 or more eligible employees. Commissions on such investments (other than IRA rollover assets that roll over at no sales charge under the fund’s IRA rollover policy as described in the prospectus) are paid to dealers at the following rates: 1.00% on amounts of less than $10 million, .50% on amounts of at least $10 million but less than $25 million and .25% on amounts of at least $25 million. Commissions are based on cumulative investments over the life of the account with no adjustment for redemptions, transfers, or market declines. For example, if a shareholder has accumulated investments in excess of $10 million (but less than $25 million) and subsequently redeems all or a portion of the account(s), purchases following the redemption will generate a dealer commission of .50%.
A dealer concession of up to 1% may be paid by the fund under its Class A plan of distribution to reimburse the Principal Underwriter in connection with dealer and wholesaler compensation paid by it with respect to investments made with no initial sales charge.
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Sales charge reductions and waivers
Reducing your Class A sales charge — As described in the prospectus, there are various ways to reduce your sales charge when purchasing Class A shares. Additional information about Class A sales charge reductions is provided below.
Statement of intention — By establishing a statement of intention (the "Statement"), you enter into a nonbinding commitment to purchase eligible shares of Capital Group Funds (excluding American Funds U.S. Government Money Market Fund) over a 13-month period and receive the same sales charge (expressed as a percentage of your purchases) as if all shares had been purchased at once, unless the Statement is upgraded as described below.
The Statement period starts on the date on which your first purchase made toward satisfying the Statement is processed. Your accumulated holdings (as described in the paragraph below titled “Rights of accumulation”) eligible to be aggregated as of the day immediately before the start of the Statement period may be credited toward satisfying the Statement.
You may revise the commitment you have made in your Statement upward at any time during the Statement period. If your prior commitment has not been met by the time of the revision, the Statement period during which purchases must be made will remain unchanged. Purchases made from the date of the revision will receive the reduced sales charge, if any, resulting from the revised Statement. If your prior commitment has been met by the time of the revision, your original Statement will be considered met and a new Statement will be established.
The Statement will be considered completed if the shareholder dies within the 13-month Statement period. Commissions to dealers will not be adjusted or paid on the difference between the Statement amount and the amount actually invested before the shareholder’s death.
When a shareholder elects to use a Statement, shares equal to 5% of the dollar amount specified in the Statement may be held in escrow in the shareholder’s account out of the initial purchase (or subsequent purchases, if necessary) by the Transfer Agent. All dividends and any capital gain distributions on shares held in escrow will be credited to the shareholder’s account in shares (or paid in cash, if requested). If the intended investment is not completed within the specified Statement period the investments made during the statement period will be adjusted to reflect the difference between the sales charge actually paid and the sales charge which would have been paid if the total of such purchases had been made at a single time. Any dealers assigned to the shareholder’s account at the time a purchase was made during the Statement period will receive a corresponding commission adjustment if appropriate.
In addition, if you currently have individual holdings in American Legacy variable annuity contracts or variable life insurance policies that were established on or before March 31, 2007, you may continue to apply purchases under such contracts and policies to a Statement.
Shareholders purchasing shares at a reduced sales charge under a Statement indicate their acceptance of these terms and those in the prospectus with their first purchase.
The Statement period may be extended in cases where the fund’s distributor determines it is appropriate to do so; for example in periods when there are extenuating circumstances such as a natural disaster that may limit an individual’s ability to meet the investment required under the Statement.
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Aggregation — Qualifying investments for aggregation include purchases of eligible classes of shares of the Capital Group Funds made by you and your “immediate family” as defined in the prospectus, if all parties are purchasing shares for their own accounts and/or:
· individual-type employee benefit plans, such as an IRA, single-participant Keogh-type plan, or a participant account of a 403(b) plan that is treated as an individual-type plan for sales charge purposes (see “Purchases by certain 403(b) plans” under “Sales charges” in this statement of additional information);
· SEP plans and SIMPLE IRA plans established after November 15, 2004, by an employer adopting any plan document other than a prototype plan produced by Capital Client Group, Inc.;
· business accounts solely controlled by you or your immediate family (for example, you own the entire business);
· trust accounts established by you or your immediate family (for trusts with only one primary beneficiary, upon the trustor’s death the trust account may be aggregated with such beneficiary’s own accounts; for trusts with multiple primary beneficiaries, upon the trustor’s death the trustees of the trust may instruct American Funds Service Company to establish separate trust accounts for each primary beneficiary; each primary beneficiary’s separate trust account may then be aggregated with such beneficiary’s own accounts);
· endowments or foundations established and controlled by you or your immediate family; or
· 529 accounts, which will be aggregated at the account owner level (Class 529-E accounts may only be aggregated with an eligible employer plan).
Individual purchases by a trustee(s) or other fiduciary(ies) may also be aggregated if the investments are:
· for a single trust estate or fiduciary account, including employee benefit plans other than the individual-type employee benefit plans described above;
· made for two or more employee benefit plans of a single employer or of affiliated employers as defined in the 1940 Act, excluding the individual-type employee benefit plans described above;
· for a diversified common trust fund or other diversified pooled account not specifically formed for the purpose of accumulating fund shares;
· for nonprofit, charitable or educational organizations, or any endowments or foundations established and controlled by such organizations, or any employer-sponsored retirement plans established for the benefit of the employees of such organizations, their endowments, or their foundations;
· for participant accounts of a 403(b) plan that is treated as an employer-sponsored plan for sales charge purposes (see “Purchases by certain 403(b) plans” under “Sales charges” in this statement of additional information), or made for participant accounts of two or more such plans, in each case of a single employer or affiliated employers as defined in the 1940 Act; or
· for a SEP or SIMPLE IRA plan established after November 15, 2004, by an employer adopting a prototype plan produced by Capital Client Group, Inc.
Purchases made for nominee or street name accounts (securities held in the name of an investment dealer or another nominee such as a bank trust department instead of the
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customer) may not be aggregated with those made for other accounts and may not be aggregated with other nominee or street name accounts unless otherwise qualified as described above.
Joint accounts may be aggregated with other accounts belonging to the primary owner and/or his or her immediate family. The primary owner of a joint account is the individual responsible for taxes on the account.
Concurrent purchases — As described in the prospectus, you may reduce your Class A sales charge by combining simultaneous purchases of all eligible classes of shares in Capital Group Funds. Shares of American Funds U.S. Government Money Market Fund purchased through an exchange, reinvestment or cross-reinvestment from a fund having a sales charge also qualify. However, direct purchases of American Funds U.S. Government Money Market Fund Class A shares are excluded. If you currently have individual holdings in American Legacy variable annuity contracts or variable life insurance policies that were established on or before March 31, 2007, you may continue to combine purchases made under such contracts and policies to reduce your Class A sales charge.
Rights of accumulation — Subject to the limitations described in the aggregation policy, you may take into account your accumulated holdings in all eligible share classes of Capital Group Funds to determine your sales charge on investments in accounts eligible to be aggregated. Direct purchases of American Funds U.S. Government Money Market Fund Class A shares are excluded. Subject to your investment dealer’s or recordkeeper’s capabilities, your accumulated holdings will be calculated as the higher of (a) the current value of your existing holdings (the “market value”) as of the day prior to your Capital Group Funds investment or (b) the amount you invested (including reinvested dividends and capital gains, but excluding capital appreciation) less any withdrawals (the “cost value”). Depending on the entity on whose books your account is held, the value of your holdings in that account may not be eligible for calculation at cost value. For example, accounts held in nominee or street name may not be eligible for calculation at cost value and instead may be calculated at market value for purposes of rights of accumulation.
The value of all of your holdings in accounts established in calendar year 2005 or earlier will be assigned an initial cost value equal to the market value of those holdings as of the last business day of 2005. Thereafter, the cost value of such accounts will increase or decrease according to actual investments or withdrawals.
You must contact your financial professional or American Funds Service Company if you have additional information that is relevant to the calculation of the value of your holdings.
When determining your Class A sales charge, if your investment is not in an employer-sponsored retirement plan, you may also continue to take into account the market value (as of the day prior to your investment) of your individual holdings in various American Legacy variable annuity contracts and variable life insurance policies that were established on or before March 31, 2007. An employer-sponsored retirement plan may also continue to take into account the market value of its investments in American Legacy Retirement Investment Plans that were established on or before March 31, 2007.
You may not purchase Class C or 529-C shares if such combined holdings cause you to be eligible to purchase Class A or 529-A shares at the $1 million or more sales charge discount rate (i.e., at net asset value).
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If you make a gift of Class A shares, upon your request, you may purchase the shares at the sales charge discount allowed under rights of accumulation of all of your Capital Group Funds and applicable American Legacy accounts.
CDSC waivers for Class A and C shares — As noted in the prospectus, a contingent deferred sales charge (“CDSC”) will be waived for redemptions due to death or post-purchase disability of a shareholder (this generally excludes accounts registered in the names of trusts and other entities). In the case of joint tenant accounts, if one joint tenant dies, a surviving joint tenant, at the time he or she notifies the Transfer Agent of the other joint tenant’s death and removes the decedent’s name from the account, may redeem shares from the account without incurring a CDSC. Redemptions made after the Transfer Agent is notified of the death of a joint tenant will be subject to a CDSC.
In addition, a CDSC will be waived for the following types of transactions, if they do not exceed 12% of the value of an “account” (defined below) annually (the “12% limit”):
· Required minimum distributions taken from retirement accounts in accordance with IRS regulations.
· Redemptions through an automatic withdrawal plan (“AWP”) (see “Automatic withdrawals” under “Shareholder account services and privileges” in this statement of additional information). For each AWP payment, assets that are not subject to a CDSC, such as shares acquired through reinvestment of dividends and/or capital gain distributions, will be redeemed first and will count toward the 12% limit. If there is an insufficient amount of assets not subject to a CDSC to cover a particular AWP payment, shares subject to the lowest CDSC will be redeemed next until the 12% limit is reached. Any dividends and/or capital gain distributions taken in cash by a shareholder who receives payments through an AWP will also count toward the 12% limit. In the case of an AWP, the 12% limit is calculated at the time an automatic redemption is first made, and is recalculated at the time each additional automatic redemption is made. Shareholders who establish an AWP should be aware that the amount of a payment not subject to a CDSC may vary over time depending on fluctuations in the value of their accounts. This privilege may be revised or terminated at any time.
For purposes of this paragraph, “account” means your investment in the applicable class of shares of the particular fund from which you are making the redemption.
The CDSC on American Funds Class A shares may be waived in cases where the fund’s transfer agent determines the benefit to the fund of collecting the CDSC would be outweighed by the cost of applying it.
CDSC waivers are allowed only in the cases listed here and in the prospectus. For example, CDSC waivers will not be allowed on redemptions of Class 529-C shares due to termination of CollegeAmerica; a determination by the Internal Revenue Service that CollegeAmerica does not qualify as a qualified tuition program under the Code; proposal or enactment of law that eliminates or limits the tax-favored status of CollegeAmerica; or elimination of the fund by Commonwealth Savers Plan as an option for additional investment within CollegeAmerica.
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Selling shares
The methods for selling (redeeming) shares are described more fully in the prospectus. If you wish to sell your shares by contacting American Funds Service Company directly, any such request must be signed by the registered shareholders. To contact American Funds Service Company via overnight mail or courier service, see “Purchase and exchange of shares.”
A signature guarantee may be required for certain redemptions. In such an event, your signature may be guaranteed by a domestic stock exchange or the Financial Industry Regulatory Authority, bank, savings association or credit union that is an eligible guarantor institution. The Transfer Agent reserves the right to require a signature guarantee on any redemptions.
Additional documentation may be required for sales of shares held in corporate, partnership or fiduciary accounts. You must include with your written request any shares you wish to sell that are in certificate form.
If you sell Class A or C shares and request a specific dollar amount to be sold, we will sell sufficient shares so that the sale proceeds, after deducting any applicable CDSC, equals the dollar amount requested.
If you hold multiple American Funds and a CDSC applies to the shares you are redeeming, the CDSC will be calculated based on the applicable class of shares of the particular fund from which you are making the redemption.
Redemption proceeds will not be mailed until sufficient time has passed to provide reasonable assurance that checks or drafts (including certified or cashier’s checks) for shares purchased have cleared (normally seven business days from the purchase date). Except for delays relating to clearance of checks for share purchases or in extraordinary circumstances (and as permissible under the 1940 Act), the fund typically expects to pay redemption proceeds one business day following receipt and acceptance of a redemption order. Interest will not accrue or be paid on amounts that represent uncashed distribution or redemption checks.
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Redemptions in-kind
Although payment of redemptions normally will be in cash, the fund’s governing documents permit payment of the redemption price wholly or partly with portfolio securities or other fund assets under conditions and circumstances determined by the fund’s board of directors/trustees. On the same redemption date, some shareholders may be paid in whole or in part in securities (which may differ among those shareholders), while other shareholders may be paid entirely in cash. In general, in-kind redemptions to affiliated shareholders will as closely as practicable represent the affiliated shareholder’s pro rata share of the fund’s securities, subject to certain exceptions. Securities distributed in-kind to unaffiliated shareholders may be selected by the investment adviser on a non-pro rata basis in a manner the investment adviser deems to be fair and reasonable to the fund’s shareholders. The disposal of the securities received in-kind may be subject to brokerage costs and, until sold, such securities remain subject to market risk and liquidity risk, including the risk that such securities are or become difficult to sell. If the fund pays your redemption with illiquid or less liquid securities, you will bear the risk of not being able to sell such securities.
The fund(s) may also effect redemptions in-kind in an effort (a) to manage cash positions, (b) to mitigate certain costs that arise from significant redemption activity or from portfolio turnover in connection with any type of selling activity, including portfolio repositioning and raising cash for redemptions, or (c) other portfolio management purposes. This practice may benefit a fund and its shareholders by reducing the need for a fund to maintain significant cash reserves and/or to sell securities held in the fund to meet redemption requests or other reasons. By doing so, a fund may avoid or reduce cash drag, transaction costs, and capital gain realization that could otherwise arise from reserves maintained or securities sold. There is a risk that this activity could negatively impact the NAV of the fund. With respect to these redemptions in-kind, shareholders will receive either a pro rata basket or a custom basket of securities valued in the same manner as they are valued for purposes of computing a fund’s NAV. The custom basket would include only securities that have been disclosed as portfolio holdings in the fund’s most recent public holdings disclosure.
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Shareholder account services and privileges
The following services and privileges are generally available to all shareholders. However, certain services and privileges described in the prospectus and this statement of additional information may not be available for Class 529 shareholders or if your account is held with an investment dealer or through an employer-sponsored retirement plan.
Automatic investment plan — An automatic investment plan enables you to make monthly or quarterly investments in American Funds through automatic debits from your bank account. To set up a plan, you must fill out an account application and specify the amount that you would like to invest and the date on which you would like your investments to occur. The plan will begin within 30 days after your account application is received. Your bank account will be debited on the day or a few days before your investment is made, depending on the bank’s capabilities. The Transfer Agent will then invest your money into the fund you specified on or around the date you specified. If the date you specified falls on a weekend or holiday, your money will be invested on the following business day. However, if the following business day falls in the next month, your money will be invested on the business day immediately preceding the weekend or holiday. If your bank account cannot be debited due to insufficient funds, a stop-payment or the closing of the account, the plan may be terminated and the related investment reversed. You may change the amount of the investment or discontinue the plan at any time by contacting the Transfer Agent.
Automatic reinvestment — Dividends and capital gain distributions are reinvested in additional shares of the same class and fund at net asset value unless you indicate otherwise on the account application. You also may elect to have dividends and/or capital gain distributions paid in cash by informing the fund, the Transfer Agent or your investment dealer. Dividends and capital gain distributions paid to retirement plan shareholders or shareholders of the 529 share classes will be automatically reinvested.
If you have elected to receive dividends and/or capital gain distributions in cash, and the postal or other delivery service is unable to deliver checks to your address of record, or you do not respond to mailings from American Funds Service Company with regard to uncashed distribution checks, your distribution option may be automatically converted to having all dividends and other distributions reinvested in additional shares.
Cross-reinvestment of dividends and distributions — For all share classes, except the 529 classes of shares, you may cross-reinvest dividends and capital gains (distributions) into other American Funds in the same share class at net asset value, subject to the following conditions:
(1) the aggregate value of your account(s) in the fund(s) paying distributions equals or exceeds $5,000 (this is waived if the value of the account in the fund receiving the distributions equals or exceeds that fund’s minimum initial investment requirement);
(2) if the value of the account of the fund receiving distributions is below the minimum initial investment requirement, distributions must be automatically reinvested; and
(3) if you discontinue the cross-reinvestment of distributions, the value of the account of the fund receiving distributions must equal or exceed the minimum initial investment requirement. If you do not meet this requirement within 90 days of notification, the fund has the right to automatically redeem the account.
Depending on the financial intermediary holding your account, your reinvestment privileges may be unavailable or differ from those described in this statement of additional information. Investors should consult their financial intermediary for further information.
Washington Mutual Investors Fund — Page 72
Automatic exchanges — You may automatically exchange shares of the same class in amounts of $50 or more among any Capital Group Funds on any day (or preceding business day if the day falls on a nonbusiness day) of each month you designate.
Automatic withdrawals — Depending on the type of account, for all share classes except R shares, you may automatically withdraw shares from any of the American Funds. You can make automatic withdrawals of $50 or more. You can designate the day of each period for withdrawals and request that checks be sent to you or someone else. Withdrawals may also be electronically deposited to your bank account. The Transfer Agent will withdraw your money from the fund you specify on or around the date you specify. If the date you specified falls on a weekend or holiday, the redemption will take place on the previous business day. However, if the previous business day falls in the preceding month, the redemption will take place on the following business day after the weekend or holiday. You should consult with your financial professional or intermediary to determine if your account is eligible for automatic withdrawals.
Withdrawal payments are not to be considered as dividends, yield or income. Generally, automatic investments may not be made into a shareholder account from which there are automatic withdrawals. Withdrawals of amounts exceeding reinvested dividends and distributions and increases in share value would reduce the aggregate value of the shareholder’s account. The Transfer Agent arranges for the redemption by the fund of sufficient shares, deposited by the shareholder with the Transfer Agent, to provide the withdrawal payment specified.
Redemption proceeds from an automatic withdrawal plan are not eligible for reinvestment without a sales charge.
Account statements — Your account is opened in accordance with your registration instructions. Transactions in the account, such as additional investments, will be reflected on regular confirmation statements from the Transfer Agent. Dividend and capital gain reinvestments, purchases through automatic investment plans and certain retirement plans, as well as automatic exchanges and withdrawals, will be confirmed at least quarterly.
American Funds Service Company and capitalgroup.com — You may check your share balance, the price of your shares or your most recent account transaction or redeem or exchange shares by calling American Funds Service Company at (800) 421-4225 or using capitalgroup.com. Redemptions and exchanges through American Funds Service Company and capitalgroup.com are subject to the conditions noted above and in “Telephone and Internet purchases, redemptions and exchanges” below. You will need your fund number (see the list of American Funds under the “General information — fund numbers” section in this statement of additional information), personal identification number (generally the last four digits of your Social Security number or other tax identification number associated with your account) and account number.
Generally, all shareholders are automatically eligible to use these services. However, if you are not currently authorized to do so, please contact American Funds Service Company for assistance. Once you establish this privilege, you, your financial professional or any person with your account information may use these services.
Telephone and Internet purchases, redemptions and exchanges — By using the telephone or the Internet (including capitalgroup.com), or fax purchase, redemption and/or exchange options, you agree to hold the fund, the Transfer Agent, any of its affiliates or mutual funds managed by such affiliates, and each of their respective directors, trustees, officers, employees and agents harmless from any losses, expenses, costs or liabilities (including attorney fees) that may be incurred in connection with the exercise of these privileges. Generally, all shareholders are automatically eligible to use these services. However, you may elect to opt out of these services by writing the Transfer Agent (you may
Washington Mutual Investors Fund — Page 73
also reinstate them at any time by writing the Transfer Agent). If the Transfer Agent does not employ reasonable procedures to confirm that the instructions received from any person with appropriate account information are genuine, it and/or the fund may be liable for losses due to unauthorized or fraudulent instructions. In the event that shareholders are unable to reach the fund by telephone because of technical difficulties, market conditions or a natural disaster, redemption and exchange requests may be made in writing only.
Redemption of shares — The fund’s declaration of trust permits the fund to direct the Transfer Agent to redeem the shares of any shareholder for their then current net asset value per share if at such time the shareholder of record owns shares having an aggregate net asset value of less than the minimum initial investment amount required of new shareholders as set forth in the fund’s current registration statement under the 1940 Act, and subject to such further terms and conditions as the board of trustees of the fund may from time to time adopt.
While payment of redemptions normally will be in cash, the fund’s declaration of trust permits payment of the redemption price wholly or partly with portfolio securities or other fund assets under conditions and circumstances determined by the fund’s board of trustees. For example, redemptions could be made in this manner if the board determined that making payments wholly in cash over a particular period would be unfair and/or harmful to other fund shareholders.
Share certificates — Shares are credited to your account. The fund does not issue share certificates.
Washington Mutual Investors Fund — Page 74
General information
Custodian of assets — Securities and cash owned by the fund, including proceeds from the sale of shares of the fund and of securities in the fund’s portfolio, are held by JP Morgan Chase Bank N.A., 270 Park Avenue, New York, NY 10017-2070, as custodian. If the fund holds securities of issuers outside the United States, the custodian may hold these securities pursuant to subcustodial arrangements in banks outside the United States or branches of U.S. banks outside the United States.
Transfer agent services — American Funds Service Company, a wholly owned subsidiary of the investment adviser, maintains the records of shareholder accounts, processes purchases and redemptions of the fund’s shares, acts as dividend and capital gain distribution disbursing agent, and performs other related shareholder service functions. The principal office of American Funds Service Company is located at 6455 Irvine Center Drive, Irvine, CA 92618. Transfer agent fees are paid according to a fee schedule, based on the number of accounts serviced or a percentage of fund assets, contained in a Shareholder Services Agreement between the fund and American Funds Service Company.
In the case of certain shareholder accounts, third parties who may be unaffiliated with the investment adviser provide transfer agency and shareholder services in place of American Funds Service Company. These services are rendered under agreements with American Funds Service Company or its affiliates and the third parties receive compensation according to such agreements. Compensation for transfer agency and shareholder services, whether paid to American Funds Service Company or such third parties, is ultimately paid from fund assets and is reflected in the expenses of the fund as disclosed in the prospectus.
During the 2026 fiscal year, transfer agent fees, gross of any payments made by American Funds Service Company to third parties, were:
|
Transfer agent fee | |
|
Class A |
$45,876,000 |
|
Class C |
669,000 |
|
Class F-1 |
2,781,000 |
|
Class F-2 |
42,428,000 |
|
Class F-3 |
149,000 |
|
Class 529-A |
1,693,000 |
|
Class 529-C |
33,000 |
|
Class 529-E |
29,000 |
|
Class 529-F-2 |
184,000 |
|
Class 529-F-3 |
—* |
|
Class R-1 |
61,000 |
|
Class R-2 |
2,701,000 |
|
Class R-2E |
261,000 |
|
Class R-3 |
2,620,000 |
|
Class R-4 |
2,571,000 |
|
Class R-5E |
855,000 |
|
Class R-5 |
336,000 |
|
Class R-6 |
508,000 |
* Amount less than $1,000.
Washington Mutual Investors Fund — Page 75
Independent registered public accounting firm — Deloitte & Touche LLP ("D&T"), 695 Town Center Drive, Costa Mesa, CA 92626, serves as the fund’s independent registered public accounting firm, providing audit services and review of certain documents to be filed with the SEC. Deloitte Tax LLP prepares tax returns for the fund. The financial statements and financial highlights of the fund included in this statement of additional information that are from the fund's Form N-CSR for the most recent fiscal year have been audited by D&T, an independent registered public accounting firm, as stated in their report appearing herein. Such financial statements and financial highlights are included in reliance upon the report of such firm given upon their authority as experts in accounting and auditing. The selection of the fund’s independent registered public accounting firm is reviewed and determined annually by the board of trustees.
On July 3, 2025, PricewaterhouseCoopers (“PwC”) was replaced by D&T, which was appointed as the fund’s independent registered public accounting firm for the fiscal year ending April 30, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended April 30, 2024 and April 30, 2025 and the subsequent interim period through July 3, 2025, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
Independent legal counsel — Dechert LLP, 633 W 5th Street, Suite 4900, Los Angeles, CA 90071, serves as counsel to the fund and independent legal counsel to the independent trustees in their capacities as such. A determination with respect to the independence of its independent legal counsel will be made at least annually by the independent trustees of the fund, as prescribed by applicable 1940 Act rules.
Prospectuses, reports to shareholders and proxy statements — The fund’s fiscal year ends on April 30. Shareholders are provided updated summary prospectuses annually and at least semi-annually with reports showing the fund’s expenses, key statistics, holdings information and investment results (annual report only). Shareholders may request a copy of the fund’s current prospectus at no cost by calling (800) 421-4225 or by sending an email request to prospectus@americanfunds.com. Shareholders may also access the fund’s current summary prospectus, prospectus, statement of additional information and shareholder reports at capitalgroup.com/prospectus. The fund’s annual financial statements are audited by the fund’s independent registered public accounting firm, D&T. In addition, shareholders may also receive proxy statements for the fund. In an effort to reduce the volume of mail shareholders receive from the fund when a household owns more than one account, the Transfer Agent has taken steps to eliminate duplicate mailings of summary prospectuses, shareholder reports and proxy statements. To receive additional copies of a summary prospectus, report or proxy statement, shareholders should contact the Transfer Agent.
Shareholders may also elect to receive updated summary prospectuses, annual reports and semi-annual reports electronically by signing up for electronic delivery on our website, capitalgroup.com. Shareholders who elect to receive documents electronically will receive such documents in electronic form and will not receive documents in paper form by mail. A shareholder who elects electronic delivery is able to cancel this service at any time and return to receiving updated summary prospectuses and other reports in paper form by mail.
Summary prospectuses, prospectuses, annual reports and semi-annual reports that are mailed to shareholders by the Capital Group organization are printed with ink containing soy and/or vegetable oil on paper containing recycled fibers.
Washington Mutual Investors Fund — Page 76
Codes of ethics — The fund and Capital Research and Management Company and its affiliated companies, including the fund’s Principal Underwriter, have adopted codes of ethics that allow for personal investments, including securities in which the fund may invest from time to time. These codes include a ban on acquisitions of securities pursuant to an initial public offering; restrictions on acquisitions of private placement securities; preclearance and reporting requirements; review of duplicate confirmation statements; annual recertification of compliance with codes of ethics; blackout periods on personal investing for certain investment personnel; ban on short-term trading profits for investment personnel; limitations on service as a director of publicly traded companies; disclosure of personal securities transactions; and policies regarding political contributions.
Washington Mutual Investors Fund — Page 77
Determination of net asset value, redemption price and maximum offering price per share for Class A shares — April 30, 2026
|
Net
asset value and redemption price per share |
$67.46 |
|
Maximum
offering price per share |
$71.58 |
Other information — The fund reserves the right to modify the privileges described in this statement of additional information at any time.
The fund’s financial statements for the fiscal year ended April 30, 2026, including the investment portfolio, and the report of D&T, the fund’s independent registered public accounting firm, are included in this statement of additional information. The fund’s financial statements for the fiscal year ended April 30, 2025, including the investment portfolio, and the report of PwC, the fund’s predecessor independent registered public accounting firm, as filed with the Securities and Exchange Commission on Form N-CSR on April 30, 2025 (available at WMIF N-CSR 2025-04-30), are incorporated herein by reference.
Washington Mutual Investors Fund — Page 78
Fund numbers — Here are the fund numbers for use when making share transactions:
|
Fund numbers | ||||||
|
Fund |
Class |
Class |
Class |
Class |
Class |
Class M |
|
Stock and stock/fixed income funds |
||||||
|
AMCAP Fund® |
002 |
302 |
402 |
602 |
702 |
N/A |
|
American Balanced Fund® |
011 |
311 |
411 |
611 |
711 |
N/A |
|
American Funds® Developing World Growth and Income Fund |
30100 |
33100 |
34100 |
36100 |
37100 |
N/A |
|
American Funds® Global Balanced Fund |
037 |
337 |
437 |
637 |
737 |
N/A |
|
American Funds® Global Insight Fund |
30122 |
33122 |
34122 |
36122 |
37122 |
N/A |
|
American Funds® International Vantage Fund |
30123 |
33123 |
34123 |
36123 |
37123 |
N/A |
|
American Mutual Fund® |
003 |
303 |
403 |
603 |
703 |
N/A |
|
Capital Income Builder® |
012 |
312 |
412 |
612 |
712 |
N/A |
|
Capital World Growth and Income Fund® |
033 |
333 |
433 |
633 |
733 |
N/A |
|
Emerging Markets Equities Fund, Inc. |
N/A |
N/A |
N/A |
36115 |
37115 |
40115 |
|
EUPAC Fund™ |
016 |
316 |
416 |
616 |
716 |
N/A |
|
Fundamental Investors® |
010 |
310 |
410 |
610 |
710 |
N/A |
|
The Growth Fund of America® |
005 |
305 |
405 |
605 |
705 |
N/A |
|
The Income Fund of America® |
006 |
306 |
406 |
606 |
706 |
N/A |
|
International Growth and Income Fund |
034 |
334 |
434 |
634 |
734 |
N/A |
|
The Investment Company of America® |
004 |
304 |
404 |
604 |
704 |
N/A |
|
The New Economy Fund® |
014 |
314 |
414 |
614 |
714 |
N/A |
|
New Perspective Fund® |
007 |
307 |
407 |
607 |
707 |
N/A |
|
New World Fund® |
036 |
336 |
436 |
636 |
736 |
N/A |
|
SMALLCAP World Fund® |
035 |
335 |
435 |
635 |
735 |
N/A |
|
Washington Mutual Investors Fund |
001 |
301 |
401 |
601 |
701 |
N/A |
|
Fixed income funds |
||||||
|
American Funds® Core Plus Bond Fund |
30410 |
33410 |
34410 |
36410 |
37410 |
N/A |
|
American Funds Emerging Markets Bond Fund ® |
30114 |
33114 |
34114 |
36114 |
37114 |
N/A |
|
American Funds Corporate Bond Fund ® |
032 |
332 |
432 |
632 |
732 |
N/A |
|
American Funds Inflation Linked Bond Fund® |
060 |
360 |
460 |
660 |
760 |
N/A |
|
American Funds Mortgage Fund® |
042 |
342 |
442 |
642 |
742 |
N/A |
|
American Funds® Multi-Sector Income Fund |
30126 |
33126 |
34126 |
36126 |
37126 |
N/A |
|
American
Funds Short-Term Tax-Exempt |
039 |
N/A |
439 |
639 |
739 |
N/A |
|
American Funds® Strategic Bond Fund |
30112 |
33112 |
34112 |
36112 |
37112 |
N/A |
|
American
Funds Tax-Exempt Fund of |
041 |
341 |
441 |
641 |
741 |
N/A |
|
American High-Income Municipal Bond Fund® |
040 |
340 |
440 |
640 |
740 |
N/A |
|
American High-Income Trust® |
021 |
321 |
421 |
621 |
721 |
N/A |
|
The Bond Fund of America® |
008 |
308 |
408 |
608 |
708 |
N/A |
|
Capital World Bond Fund® |
031 |
331 |
431 |
631 |
731 |
N/A |
|
Intermediate Bond Fund of America® |
023 |
323 |
423 |
623 |
723 |
N/A |
|
Limited
Term Tax-Exempt Bond Fund |
043 |
343 |
443 |
643 |
743 |
N/A |
|
Short-Term Bond Fund of America® |
048 |
348 |
448 |
648 |
748 |
N/A |
|
The Tax-Exempt Bond Fund of America® |
019 |
319 |
419 |
619 |
719 |
N/A |
|
The Tax-Exempt Fund of California® |
020 |
320 |
420 |
620 |
720 |
N/A |
|
U.S. Government Securities Fund® |
022 |
322 |
422 |
622 |
722 |
N/A |
|
Money market fund |
||||||
|
American
Funds® U.S. Government |
059 |
359 |
459 |
659 |
759 |
N/A |
Washington Mutual Investors Fund — Page 79
|
Fund numbers | |||||||
|
Fund |
Class
|
Class |
Class |
Class |
Class |
Class |
Class |
|
Stock and stock/fixed income funds |
|||||||
|
AMCAP Fund |
1002 |
1302 |
1502 |
1602 |
1702 |
N/A |
N/A |
|
American Balanced Fund |
1011 |
1311 |
1511 |
1611 |
1711 |
N/A |
N/A |
|
American Funds Developing World Growth and Income Fund |
10100 |
13100 |
15100 |
16100 |
17100 |
N/A |
N/A |
|
American Funds Global Balanced Fund |
1037 |
1337 |
1537 |
1637 |
1737 |
N/A |
N/A |
|
American Funds Global Insight Fund |
10122 |
13122 |
15122 |
16122 |
17122 |
N/A |
N/A |
|
American Funds International Vantage Fund |
10123 |
13123 |
15123 |
16123 |
17123 |
N/A |
N/A |
|
American Mutual Fund |
1003 |
1303 |
1503 |
1603 |
1703 |
N/A |
N/A |
|
Capital Income Builder |
1012 |
1312 |
1512 |
1612 |
1712 |
N/A |
N/A |
|
Capital World Growth and Income Fund |
1033 |
1333 |
1533 |
1633 |
1733 |
N/A |
N/A |
|
EUPAC Fund |
1016 |
1316 |
1516 |
1616 |
1716 |
N/A |
N/A |
|
Fundamental Investors |
1010 |
1310 |
1510 |
1610 |
1710 |
N/A |
N/A |
|
The Growth Fund of America |
1005 |
1305 |
1505 |
1605 |
1705 |
N/A |
N/A |
|
The Income Fund of America |
1006 |
1306 |
1506 |
1606 |
1706 |
N/A |
N/A |
|
International Growth and Income Fund |
1034 |
1334 |
1534 |
1634 |
1734 |
N/A |
N/A |
|
The Investment Company of America |
1004 |
1304 |
1504 |
1604 |
1704 |
N/A |
N/A |
|
The New Economy Fund |
1014 |
1314 |
1514 |
1614 |
1714 |
N/A |
N/A |
|
New Perspective Fund |
1007 |
1307 |
1507 |
1607 |
1707 |
N/A |
N/A |
|
New World Fund |
1036 |
1336 |
1536 |
1636 |
1736 |
N/A |
N/A |
|
SMALLCAP World Fund |
1035 |
1335 |
1535 |
1635 |
1735 |
N/A |
N/A |
|
Washington Mutual Investors Fund |
1001 |
1301 |
1501 |
1601 |
1701 |
N/A |
N/A |
|
Fixed income funds |
|||||||
|
American Funds® Core Plus Bond Fund |
10410 |
13410 |
15410 |
16410 |
17410 |
N/A |
N/A |
|
American Funds Emerging Markets Bond Fund |
10114 |
13114 |
15114 |
16114 |
17114 |
N/A |
N/A |
|
American Funds Corporate Bond Fund |
1032 |
1332 |
1532 |
1632 |
1732 |
N/A |
N/A |
|
American Funds Inflation Linked Bond Fund |
1060 |
1360 |
1560 |
1660 |
1760 |
N/A |
N/A |
|
American Funds Mortgage Fund |
1042 |
1342 |
1542 |
1642 |
1742 |
N/A |
N/A |
|
American Funds Multi-Sector Income Fund |
10126 |
13126 |
15126 |
16126 |
17126 |
N/A |
N/A |
|
American Funds Strategic Bond Fund |
10112 |
13112 |
15112 |
16112 |
17112 |
N/A |
N/A |
|
American High-Income Trust |
1021 |
1321 |
1521 |
1621 |
1721 |
N/A |
N/A |
|
The Bond Fund of America |
1008 |
1308 |
1508 |
1608 |
1708 |
N/A |
N/A |
|
Capital World Bond Fund |
1031 |
1331 |
1531 |
1631 |
1731 |
N/A |
N/A |
|
Intermediate Bond Fund of America |
1023 |
1323 |
1523 |
1623 |
1723 |
N/A |
N/A |
|
Short-Term Bond Fund of America |
1048 |
1348 |
1548 |
1648 |
1748 |
N/A |
N/A |
|
U.S. Government Securities Fund |
1022 |
1322 |
1522 |
1622 |
1722 |
N/A |
N/A |
|
Money market fund |
|
||||||
|
American
Funds U.S. Government |
1059 |
1359 |
1559 |
1659 |
1759 |
48059 |
60059 |
Washington Mutual Investors Fund — Page 80
|
Fund numbers | ||||||||
|
Fund |
Class |
Class |
Class |
Class |
Class |
Class |
Class |
Class |
|
Stock and stock/fixed income funds |
||||||||
|
AMCAP Fund |
2102 |
2202 |
4102 |
2302 |
2402 |
2702 |
2502 |
2602 |
|
American Balanced Fund |
2111 |
2211 |
4111 |
2311 |
2411 |
2711 |
2511 |
2611 |
|
American Funds Developing World Growth and Income Fund |
21100 |
22100 |
41100 |
23100 |
24100 |
27100 |
25100 |
26100 |
|
American Funds Global Balanced Fund |
2137 |
2237 |
4137 |
2337 |
2437 |
2737 |
2537 |
2637 |
|
American Funds Global Insight Fund |
21122 |
22122 |
41122 |
23122 |
24122 |
27122 |
25122 |
26122 |
|
American Funds International Vantage Fund |
21123 |
22123 |
41123 |
23123 |
24123 |
27123 |
25123 |
26123 |
|
American Mutual Fund |
2103 |
2203 |
4103 |
2303 |
2403 |
2703 |
2503 |
2603 |
|
Capital Income Builder |
2112 |
2212 |
4112 |
2312 |
2412 |
2712 |
2512 |
2612 |
|
Capital World Growth and Income Fund |
2133 |
2233 |
4133 |
2333 |
2433 |
2733 |
2533 |
2633 |
|
Emerging Markets Equities Fund, Inc. |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
26115 |
|
EUPAC Fund |
2116 |
2216 |
4116 |
2316 |
2416 |
2716 |
2516 |
2616 |
|
Fundamental Investors |
2110 |
2210 |
4110 |
2310 |
2410 |
2710 |
2510 |
2610 |
|
The Growth Fund of America |
2105 |
2205 |
4105 |
2305 |
2405 |
2705 |
2505 |
2605 |
|
The Income Fund of America |
2106 |
2206 |
4106 |
2306 |
2406 |
2706 |
2506 |
2606 |
|
International Growth and Income Fund |
2134 |
2234 |
41034 |
2334 |
2434 |
27034 |
2534 |
2634 |
|
The Investment Company of America |
2104 |
2204 |
4104 |
2304 |
2404 |
2704 |
2504 |
2604 |
|
The New Economy Fund |
2114 |
2214 |
4114 |
2314 |
2414 |
2714 |
2514 |
2614 |
|
New Perspective Fund |
2107 |
2207 |
4107 |
2307 |
2407 |
2707 |
2507 |
2607 |
|
New World Fund |
2136 |
2236 |
4136 |
2336 |
2436 |
2736 |
2536 |
2636 |
|
SMALLCAP World Fund |
2135 |
2235 |
4135 |
2335 |
2435 |
2735 |
2535 |
2635 |
|
Washington Mutual Investors Fund |
2101 |
2201 |
4101 |
2301 |
2401 |
2701 |
2501 |
2601 |
|
Fixed income funds |
||||||||
|
American Funds® Core Plus Bond Fund |
21410 |
22410 |
41410 |
23410 |
24410 |
27410 |
25410 |
26410 |
|
American Funds Emerging Markets Bond Fund |
21114 |
22114 |
41114 |
23114 |
24114 |
27114 |
25114 |
26114 |
|
American Funds Corporate Bond Fund |
2132 |
2232 |
4132 |
2332 |
2432 |
2732 |
2532 |
2632 |
|
American Funds Inflation Linked Bond Fund |
2160 |
2260 |
4160 |
2360 |
2460 |
2760 |
2560 |
2660 |
|
American Funds Mortgage Fund |
2142 |
2242 |
4142 |
2342 |
2442 |
2742 |
2542 |
2642 |
|
American Funds Multi-Sector Income Fund |
21126 |
22126 |
41126 |
23126 |
24126 |
27126 |
25126 |
26126 |
|
American Funds Strategic Bond Fund |
21112 |
22112 |
41112 |
23112 |
24112 |
27112 |
25112 |
26112 |
|
American High-Income Trust |
2121 |
2221 |
4121 |
2321 |
2421 |
2721 |
2521 |
2621 |
|
The Bond Fund of America |
2108 |
2208 |
4108 |
2308 |
2408 |
2708 |
2508 |
2608 |
|
Capital World Bond Fund |
2131 |
2231 |
4131 |
2331 |
2431 |
2731 |
2531 |
2631 |
|
Intermediate Bond Fund of America |
2123 |
2223 |
4123 |
2323 |
2423 |
2723 |
2523 |
2623 |
|
Short-Term Bond Fund of America |
2148 |
2248 |
4148 |
2348 |
2448 |
2748 |
2548 |
2648 |
|
U.S. Government Securities Fund |
2122 |
2222 |
4122 |
2322 |
2422 |
2722 |
2522 |
2622 |
|
Money market fund |
||||||||
|
American
Funds U.S. Government |
2159 |
2259 |
4159 |
2359 |
2459 |
2759 |
2559 |
2659 |
Washington Mutual Investors Fund — Page 81
|
Fund numbers | |||||
|
Fund |
Class A |
Class C |
Class F-1 |
Class F-2 |
Class F-3 |
|
American Funds Target Date Retirement Series® |
|||||
|
American Funds® 2070 Target Date Retirement Fund |
30187 |
33187 |
34187 |
36187 |
37187 |
|
American Funds® 2065 Target Date Retirement Fund |
30185 |
33185 |
34185 |
36185 |
37185 |
|
American Funds 2060 Target Date Retirement Fund® |
083 |
383 |
483 |
683 |
783 |
|
American Funds 2055 Target Date Retirement Fund® |
082 |
382 |
482 |
682 |
782 |
|
American Funds 2050 Target Date Retirement Fund® |
069 |
369 |
469 |
669 |
769 |
|
American Funds 2045 Target Date Retirement Fund® |
068 |
368 |
468 |
668 |
768 |
|
American Funds 2040 Target Date Retirement Fund® |
067 |
367 |
467 |
667 |
767 |
|
American Funds 2035 Target Date Retirement Fund® |
066 |
366 |
466 |
36066 |
766 |
|
American Funds 2030 Target Date Retirement Fund® |
065 |
365 |
465 |
665 |
765 |
|
American Funds® 2025 Target Date Retirement Income Fund |
064 |
364 |
464 |
664 |
764 |
|
American Funds® 2020 Target Date Retirement Income Fund |
063 |
363 |
463 |
663 |
763 |
|
American Funds® 2015 Target Date Retirement Income Fund |
062 |
362 |
462 |
662 |
762 |
|
American Funds® 2010 Target Date Retirement Income Fund |
061 |
361 |
461 |
661 |
761 |
Washington Mutual Investors Fund — Page 82
|
Fund numbers | ||||||||
|
Fund |
Class |
Class |
Class |
Class |
Class |
Class |
Class |
Class |
|
American Funds Target Date Retirement Series® |
||||||||
|
American
Funds 2070 |
21187 |
22187 |
41187 |
23187 |
24187 |
27187 |
25187 |
26187 |
|
American
Funds 2065 |
21185 |
22185 |
41185 |
23185 |
24185 |
27185 |
25185 |
26185 |
|
American
Funds 2060 |
2183 |
2283 |
4183 |
2383 |
2483 |
2783 |
2583 |
2683 |
|
American
Funds 2055 |
2182 |
2282 |
4182 |
2382 |
2482 |
2782 |
2582 |
2682 |
|
American
Funds 2050 |
2169 |
2269 |
4169 |
2369 |
2469 |
2769 |
2569 |
2669 |
|
American
Funds 2045 |
2168 |
2268 |
4168 |
2368 |
2468 |
2768 |
2568 |
2668 |
|
American
Funds 2040 |
2167 |
2267 |
4167 |
2367 |
2467 |
2767 |
2567 |
2667 |
|
American
Funds 2035 |
2166 |
2266 |
4166 |
2366 |
2466 |
2766 |
2566 |
2666 |
|
American
Funds 2030 |
2165 |
2265 |
4165 |
2365 |
2465 |
2765 |
2565 |
2665 |
|
American
Funds 2025 |
2164 |
2264 |
4164 |
2364 |
2464 |
2764 |
2564 |
2664 |
|
American
Funds 2020 |
2163 |
2263 |
4163 |
2363 |
2463 |
2763 |
2563 |
2663 |
|
American
Funds 2015 |
2162 |
2262 |
4162 |
2362 |
2462 |
2762 |
2562 |
2662 |
|
American
Funds 2010 |
2161 |
2261 |
4161 |
2361 |
2461 |
2761 |
2561 |
2661 |
Washington Mutual Investors Fund — Page 83
|
Fund numbers | |||||
|
Fund |
Class
|
Class
|
Class
|
Class
|
Class
|
|
American Funds College Target Date Series® |
|||||
|
American Funds® College 2042 Fund |
10144 |
13144 |
15144 |
16144 |
17144 |
|
American Funds® College 2039 Fund |
10136 |
13136 |
15136 |
16136 |
17136 |
|
American Funds® College 2036 Fund |
10125 |
13125 |
15125 |
16125 |
17125 |
|
American Funds College 2033 Fund® |
10103 |
13103 |
15103 |
16103 |
17103 |
|
American Funds College 2030 Fund® |
1094 |
1394 |
1594 |
1694 |
1794 |
|
American Funds College 2027 Fund® |
1093 |
1393 |
1593 |
1693 |
1793 |
|
American Funds College Enrollment Fund® |
1088 |
1388 |
1588 |
1688 |
1788 |
Washington Mutual Investors Fund — Page 84
|
Fund numbers | |||||
|
Fund |
Class A |
Class C |
Class F-1 |
Class F-2 |
Class F-3 |
|
American Funds® Portfolio Series |
|||||
|
American Funds® Global Growth Portfolio |
055 |
355 |
455 |
655 |
755 |
|
American Funds® Growth Portfolio |
053 |
353 |
453 |
653 |
753 |
|
American Funds® Growth and Income Portfolio |
051 |
351 |
451 |
651 |
751 |
|
American Funds® Moderate Growth and Income Portfolio |
050 |
350 |
450 |
650 |
750 |
|
American Funds® Conservative Growth and Income Portfolio |
047 |
347 |
447 |
647 |
747 |
|
American Funds® Tax-Aware Conservative Growth and Income Portfolio |
046 |
346 |
446 |
646 |
746 |
|
American Funds® Preservation Portfolio |
045 |
345 |
445 |
645 |
745 |
|
American Funds® Tax-Exempt Preservation Portfolio |
044 |
344 |
444 |
644 |
744 |
|
Fund numbers | |||||||
|
Fund |
Class |
Class |
Class |
Class |
Class |
Class |
Class |
|
American Funds Global Growth Portfolio |
1055 |
1355 |
1555 |
1655 |
1755 |
48055 |
60055 |
|
American Funds Growth Portfolio |
1053 |
1353 |
1553 |
1653 |
1753 |
48053 |
60053 |
|
American Funds Growth and Income Portfolio |
1051 |
1351 |
1551 |
1651 |
1751 |
48051 |
60051 |
|
American Funds Moderate Growth and Income Portfolio |
1050 |
1350 |
1550 |
1650 |
1750 |
48050 |
60050 |
|
American Funds Conservative Growth and Income Portfolio |
1047 |
1347 |
1547 |
1647 |
1747 |
48047 |
60047 |
|
American Funds Tax-Aware Conservative Growth and Income Portfolio |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
|
American Funds Preservation Portfolio |
1045 |
1345 |
1545 |
1645 |
1745 |
48045 |
60045 |
|
American Funds Tax-Exempt Preservation Portfolio |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Fund numbers | ||||||||
|
Fund |
Class |
Class |
Class |
Class |
Class |
Class |
Class |
Class |
|
American Funds Global Growth Portfolio |
2155 |
2255 |
4155 |
2355 |
2455 |
2755 |
2555 |
2655 |
|
American Funds Growth Portfolio |
2153 |
2253 |
4153 |
2353 |
2453 |
2753 |
2553 |
2653 |
|
American Funds Growth and Income Portfolio |
2151 |
2251 |
4151 |
2351 |
2451 |
2751 |
2551 |
2651 |
|
American Funds Moderate Growth and Income Portfolio |
2150 |
2250 |
4150 |
2350 |
2450 |
2750 |
2550 |
2650 |
|
American Funds Conservative Growth and Income Portfolio |
2147 |
2247 |
4147 |
2347 |
2447 |
2747 |
2547 |
2647 |
|
American
Funds Tax-Aware Conservative |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
|
American Funds Preservation Portfolio |
2145 |
2245 |
4145 |
2345 |
2445 |
2745 |
2545 |
2645 |
|
American Funds Tax-Exempt Preservation Portfolio |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
Washington Mutual Investors Fund — Page 85
|
Fund numbers | |||||
|
Fund |
Class A |
Class C |
Class F-1 |
Class F-2 |
Class F-3 |
|
American Funds® Retirement Income Portfolio Series |
|||||
|
American Funds® Retirement Income Portfolio – Conservative |
30109 |
33109 |
34109 |
36109 |
37109 |
|
American Funds® Retirement Income Portfolio – Moderate |
30110 |
33110 |
34110 |
36110 |
37110 |
|
American Funds® Retirement Income Portfolio – Enhanced |
30111 |
33111 |
34111 |
36111 |
37111 |
|
Fund numbers | ||||||||
|
Fund |
Class |
Class |
Class |
Class |
Class |
Class |
Class |
Class |
|
American Funds Retirement Income Portfolio – Conservative |
21109 |
22109 |
41109 |
23109 |
24109 |
27109 |
25109 |
26109 |
|
American Funds Retirement Income Portfolio – Moderate |
21110 |
22110 |
41110 |
23110 |
24110 |
27110 |
25110 |
26110 |
|
American Funds Retirement Income Portfolio – Enhanced |
21111 |
22111 |
41111 |
23111 |
24111 |
27111 |
25111 |
26111 |
|
Fund numbers | ||||||
|
Fund |
Class |
Class |
Class |
Class |
Class |
Class R-6 |
|
Interval funds |
||||||
|
Capital Group KKR Core Plus+ |
30400 |
39400 |
61400 |
36400 |
37400 |
26400 |
|
Capital Group KKR Multi-Sector+ |
30401 |
39401 |
61401 |
36401 |
37401 |
26401 |
|
Capital Group KKR U.S. Equity+ |
30402 |
39402 |
61402 |
36402 |
37402 |
26402 |
Washington Mutual Investors Fund — Page 86
Appendix
The following descriptions of debt security ratings are based on information provided by Moody’s Investors Service, S&P Global Ratings and Fitch Ratings, Inc.
Description of bond ratings
Moody’s
Long-term
rating scale
Aaa
Obligations
rated Aaa are judged to be of the highest quality, subject to the lowest level of credit risk.
Aa
Obligations
rated Aa are judged to be of high quality and are subject to very low credit risk.
A
Obligations
rated A are considered upper-medium grade and are subject to low credit risk.
Baa
Obligations
rated Baa are judged to be medium-grade and subject to moderate credit risk and as such may possess certain speculative characteristics.
Ba
Obligations
rated Ba are judged to be speculative and are subject to substantial credit risk.
B
Obligations
rated B are considered speculative and are subject to high credit risk.
Caa
Obligations
rated Caa are judged to be speculative and of poor standing and are subject to very high credit risk.
Ca
Obligations
rated Ca are highly speculative and are likely in, or very near, default, with some prospect of recovery of principal and interest.
C
Obligations
rated C are the lowest rated and are typically in default, with little prospect for recovery of principal or interest.
Note: Moody’s appends numerical modifiers 1, 2, and 3 to each generic rating classification from Aa through Caa. The modifier 1 indicates that the obligation ranks in the higher end of its generic rating category; the modifier 2 indicates a mid-range ranking; and the modifier 3 indicates a ranking in the lower end of that generic rating category. Additionally, a “(hyb)” indicator is appended to all ratings of hybrid securities issued by banks, insurers, finance companies and securities firms.
Washington Mutual Investors Fund — Page 87
S&P
Global Ratings
Long-term
issue credit ratings
AAA
An
obligation rated AAA has the highest rating assigned by S&P Global Ratings. The obligor’s capacity to meet its financial commitments
on the obligation is extremely strong.
AA
An
obligation rated AA differs from the highest-rated obligations only to a small degree. The obligor’s capacity to meet its financial
commitments on the obligation is very strong.
A
An
obligation rated A is somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than obligations
in higher-rated categories. However, the obligor’s capacity to meet its financial commitments on the obligation is still strong.
BBB
An
obligation rated BBB exhibits adequate protection parameters. However, adverse economic conditions or changing circumstances are more
likely to weaken the obligor’s capacity to meet its financial commitments on the obligation.
BB, B, CCC, CC, and C
Obligations rated BB, B, CCC, CC, and C are regarded as having significant speculative characteristics. BB indicates the least degree of speculation and C the highest. While such obligations will likely have some quality and protective characteristics, these may be outweighed by large uncertainties or major exposures to adverse conditions.
BB
An
obligation rated BB is less vulnerable to nonpayment than other speculative issues. However, it faces major ongoing uncertainties or exposure
to adverse business, financial, or economic conditions which could lead to the obligor’s inadequate capacity to meet its financial
commitments on the obligation.
B
An
obligation rated B is more vulnerable to nonpayment than obligations rated BB, but the obligor currently has the capacity to meet its
financial commitments on the obligation. Adverse business, financial, or economic conditions will likely impair the obligor’s capacity
or willingness to meet its financial commitments on the obligation.
CCC
An
obligation rated CCC is currently vulnerable to nonpayment and is dependent upon favorable business, financial, and economic conditions
for the obligor to meet its financial commitments on the obligation. In the event of adverse business, financial, or economic conditions,
the obligor is not likely to have the capacity to meet its financial commitments on the obligation.
CC
An
obligation rated CC is currently highly vulnerable to nonpayment. The CC rating is used when a default has not occurred, but S&P Global
Ratings expects default to be a virtual certainty, regardless of the anticipated time to default.
Washington Mutual Investors Fund — Page 88
C
An
obligation rated C is currently highly vulnerable to nonpayment, and the obligation is expected to have lower relative seniority or lower
ultimate recovery compared with obligations that are rated higher.
D
An
obligation rated D is in default or in breach of an imputed promise. For non-hybrid capital instruments, the D rating category is used
when payments on an obligation are not made on the date due, unless S&P Global Ratings believes that such payments will be made within
the next five business days in the absence of a stated grace period or within the earlier of the stated grace period or the next 30 calendar
days. The D rating also will be used upon the filing of a bankruptcy petition or the taking of similar action and where default on an
obligation is a virtual certainty, for example due to automatic stay provisions. A rating on an obligation is lowered to D if it is subject
to a distressed debt restructuring.
Plus (+) or minus (–)
The ratings from AA to CCC may be modified by the addition of a plus or minus sign to show relative standing within the major rating categories.
NR
Indicates that a rating has not been assigned or is no longer assigned.
Washington Mutual Investors Fund — Page 89
Fitch
Ratings, Inc.
Long-term
credit ratings
AAA
Highest
credit quality. AAA ratings denote the lowest expectation of default risk. They are assigned only in case of exceptionally strong capacity
for payment of financial commitments. This capacity is highly unlikely to be adversely affected by foreseeable events.
AA
Very
high credit quality. AA ratings denote expectations of very low default risk. They indicate very strong capacity for payment of financial
commitments. This capacity is not significantly vulnerable to foreseeable events.
A
High
credit quality. A ratings denote expectations of low default risk. The capacity for payment of financial commitments is considered strong.
This capacity may, nevertheless, be more vulnerable to changes in circumstances or in economic conditions than is the case for higher
ratings.
BBB
Good
credit quality. BBB ratings indicate that expectations of default risk are low. The capacity for payment of financial commitments is considered
adequate but adverse changes in circumstances and economic conditions are more likely to impair this capacity.
BB
Speculative.
BB ratings indicate an elevated vulnerability to default risk, particularly in the event of adverse changes in business or economic conditions
over time; however, business or financial flexibility exists which supports the servicing of financial commitments.
B
Highly
speculative. B ratings indicate that material default risk is present, but a limited margin of safety remains. Financial commitments are
currently being met; however, capacity for continued payment is vulnerable to deterioration in the business and economic environment.
CCC
Substantial
credit risk. Default is a real possibility.
CC
Very
high levels of credit risk. Default of some kind appears probable.
C
Exceptionally
high levels of credit risk. Default is imminent or inevitable, or the issuer is in standstill. Conditions that are indicative of a C category
rating for an issuer include:
· The issuer has entered into a grace or cure period following nonpayment of a material financial obligation;
· The issuer has entered into a temporary negotiated waiver or standstill agreement following a payment default on a material financial obligation; or
· Fitch Ratings otherwise believes a condition of RD or D to be imminent or inevitable, including through the formal announcement of a distressed debt exchange.
Washington Mutual Investors Fund — Page 90
RD
Restricted
default. RD ratings indicate an issuer that in Fitch Ratings’ opinion has experienced an uncured payment default on a bond, loan
or other material financial obligation but which has not entered into bankruptcy filings, administration, receivership, liquidation or
other formal winding up procedure, and which has not otherwise ceased operating. This would include:
· The selective payment default on a specific class or currency of debt;
· The uncured expiry of any applicable grace period, cure period or default forbearance period following a payment default on a bank loan, capital markets security or other material financial obligation;
· The extension of multiple waivers or forbearance periods upon a payment default on one or more material financial obligations, either in series or in parallel; or
· Execution of a distressed debt exchange on one or more material financial obligations.
D
Default.
D ratings indicate an issuer that in Fitch Ratings’ opinion has entered into bankruptcy filings, administration, receivership, liquidation
or other formal winding up procedure, or which has otherwise ceased business.
Default ratings are not assigned prospectively to entities or their obligations; within this context, nonpayment on an instrument that contains a deferral feature or grace period will generally not be considered a default until after the expiration of the deferral or grace period, unless a default is otherwise driven by bankruptcy or other similar circumstance, or by a distressed debt exchange.
Imminent default typically refers to the occasion where a payment default has been intimated by the issuer, and is all but inevitable. This may, for example, be where an issuer has missed a scheduled payment, but (as is typical) has a grace period during which it may cure the payment default. Another alternative would be where an issuer has formally announced a distressed debt exchange, but the date of the exchange still lies several days or weeks in the immediate future.
In all cases, the assignment of a default rating reflects the agency’s opinion as to the most appropriate rating category consistent with the rest of its universe of ratings, and may differ from the definition of default under the terms of an issuer’s financial obligations or local commercial practice.
Note: The modifiers “+” or “–” may be appended to a rating to denote relative status within major rating categories. Such suffixes are not added to the AAA long-term rating category, or to categories below B.
Washington Mutual Investors Fund — Page 91
Description of commercial paper ratings
Moody’s
Global short-term rating scale
P-1
Issuers (or supporting institutions) rated Prime-1 have a superior ability to repay short-term debt obligations.
P-2
Issuers (or supporting institutions) rated Prime-2 have a strong ability to repay short-term debt obligations.
P-3
Issuers (or supporting institutions) rated Prime-3 have an acceptable ability to repay short-term obligations.
NP
Issuers (or supporting institutions) rated Not Prime do not fall within any of the Prime rating categories.
S&P Global Ratings
Commercial paper ratings (highest three ratings)
A-1
A short-term obligation rated A-1 is rated in the highest category by S&P Global Ratings. The obligor’s capacity to meet its financial commitments on the obligation is strong. Within this category, certain obligations are designated with a plus sign (+). This indicates that the obligor’s capacity to meet its financial commitments on these obligations is extremely strong.
A-2
A short-term obligation rated A-2 is somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than obligations in higher rating categories. However, the obligor’s capacity to meet its financial commitments on the obligation is satisfactory.
A-3
A short-term obligation rated A-3 exhibits adequate protection parameters. However, adverse economic conditions or changing circumstances are more likely to weaken an obligor's capacity to meet its financial commitments on the obligation.
Washington Mutual Investors Fund — Page 92
|
Common
stocks 95.35% |
|
Shares
|
Value
(000)
| |
|
Energy 3.98%
| ||||
|
Baker
Hughes Co., Class A
|
1,466,571
|
$102,176
| ||
|
Canadian
Natural Resources, Ltd.
|
23,174,614
|
1,105,197
| ||
|
Chevron
Corp. |
4,743,978
|
917,058
| ||
|
ConocoPhillips
|
13,775,489
|
1,732,681
| ||
|
EOG
Resources, Inc.
|
9,123,802
|
1,282,533
| ||
|
Exxon
Mobil Corp.
|
13,527,250
|
2,087,661
| ||
|
Halliburton
Co. |
6,924,829
|
292,920
| ||
|
ONEOK,
Inc. |
2,850,974
|
263,601
| ||
|
SLB,
Ltd. |
3,750,443
|
213,325
| ||
|
TC
Energy Corp.
|
6,440,060
|
431,033
| ||
|
TotalEnergies
SE |
1,147,464
|
106,382
| ||
|
|
|
|
|
8,534,567
|
|
| ||||
|
Materials 2.47%
| ||||
|
Air
Products and Chemicals, Inc.
|
5,464,985
|
1,639,769
| ||
|
Corteva,
Inc. |
11,401,377
|
923,626
| ||
|
H.B.
Fuller Co.
|
1,423,437
|
86,146
| ||
|
International
Paper Co. |
9,904,027
|
301,280
| ||
|
Linde
PLC |
1,122,197
|
562,378
| ||
|
LyondellBasell
Industries NV
|
1,495,171
|
111,540
| ||
|
Mosaic
Co. |
961,186
|
22,367
| ||
|
Royal
Gold, Inc.
|
1,815,713
|
423,751
| ||
|
Wheaton
Precious Metals Corp.
|
9,693,619
|
1,225,855
| ||
|
|
|
|
|
5,296,712
|
|
| ||||
|
Industrials 12.46%
| ||||
|
3M
Co. |
5,107,615
|
748,368
| ||
|
Applied
Industrial Technologies, Inc.
|
290,910
|
88,946
| ||
|
BAE
Systems PLC (ADR)
|
2,396,610
|
267,605
| ||
|
Boeing
Co. (The) (a)
|
6,439,889
|
1,474,928
| ||
|
Caterpillar,
Inc. |
2,696,641
|
2,400,307
| ||
|
CSX
Corp. |
5,000,000
|
227,150
| ||
|
Deere
& Co. |
3,809,105
|
2,246,877
| ||
|
Delta
Air Lines, Inc.
|
14,088,617
|
957,885
| ||
|
Equifax,
Inc. |
1,071,846
|
186,437
| ||
|
FedEx
Corp. |
262,813
|
105,995
| ||
|
GE
Vernova, Inc.
|
608,543
|
659,332
| ||
|
General
Electric Co.
|
8,535,951
|
2,474,828
| ||
|
HEICO
Corp. |
770,068
|
207,857
| ||
|
Ingersoll-Rand,
Inc. |
4,307,360
|
343,986
| ||
|
ITT,
Inc. |
2,047,999
|
438,968
| ||
|
Johnson
Controls International PLC
|
2,790,814
|
407,543
| ||
|
L3Harris
Technologies, Inc.
|
2,546,661
|
816,332
| ||
|
Lennox
International, Inc.
|
1,527,295
|
816,935
| ||
|
Northrop
Grumman Corp.
|
4,549,115
|
2,636,121
| ||
|
Parker-Hannifin
Corp. |
694,504
|
631,596
| ||
|
Paychex,
Inc. |
14,167,242
|
1,312,312
| ||
|
RELX
PLC (ADR) (b)
|
5,363,298
|
196,243
| ||
|
RTX
Corp. |
16,621,724
|
2,926,587
| ||
|
Siemens
AG (ADR) |
3,392,244
|
503,646
| ||
|
Trane
Technologies PLC
|
248,973
|
122,629
| ||
|
Union
Pacific Corp.
|
5,830,438
|
1,571,186
| ||
|
Verisk
Analytics, Inc.
|
3,910,670
|
721,479
| ||
|
Waste
Connections, Inc.
|
2,262,759
|
372,722
| ||
|
Waste
Management, Inc.
|
573,973
|
133,477
| ||
|
Watsco,
Inc. |
1,672,366
|
732,229
| ||
|
|
|
|
|
26,730,506
|
|
| ||||
|
1
|
Washington
Mutual Investors Fund |
|
Common
stocks (continued) |
|
Shares
|
Value
(000)
| |
|
Consumer
discretionary 6.91% | ||||
|
Amazon.com,
Inc. (a)
|
5,338,427
|
$1,415,003
| ||
|
Booking
Holdings, Inc.
|
2,237,475
|
376,701
| ||
|
Chipotle
Mexican Grill, Inc. (a)
|
2,787,984
|
94,764
| ||
|
D.R.
Horton, Inc.
|
8,539,286
|
1,313,855
| ||
|
Darden
Restaurants, Inc.
|
5,547,269
|
1,112,560
| ||
|
General
Motors Co.
|
5,735,437
|
440,998
| ||
|
Home
Depot, Inc.
|
4,180,923
|
1,374,687
| ||
|
Marriott
International, Inc., Class A
|
959,200
|
346,933
| ||
|
NIKE,
Inc., Class B
|
11,713,179
|
519,597
| ||
|
Royal
Caribbean Cruises, Ltd.
|
9,374,937
|
2,472,733
| ||
|
Sony
Group Corp. (ADR)
|
4,549,514
|
91,400
| ||
|
Starbucks
Corp. |
18,713,658
|
1,971,110
| ||
|
Texas
Roadhouse, Inc.
|
1,936,749
|
311,797
| ||
|
TJX
Cos., Inc. (The)
|
5,489,958
|
860,551
| ||
|
Toll
Brothers, Inc.
|
1,394,857
|
198,265
| ||
|
Tractor
Supply Co.
|
6,410,175
|
224,997
| ||
|
Vail
Resorts, Inc. (b)(c)
|
2,402,780
|
305,586
| ||
|
YUM!
Brands, Inc.
|
8,748,257
|
1,396,659
| ||
|
|
|
|
|
14,828,196
|
|
| ||||
|
Consumer
staples 8.54% | ||||
|
Altria
Group, Inc.
|
10,171,559
|
738,964
| ||
|
British
American Tobacco PLC (ADR)
|
49,252,367
|
2,896,039
| ||
|
Bunge
Global SA |
1,336,864
|
169,875
| ||
|
Church
& Dwight Co., Inc.
|
3,935,686
|
381,998
| ||
|
Coca-Cola
Co. |
13,179,545
|
1,038,021
| ||
|
Constellation
Brands, Inc., Class A
|
3,584,968
|
561,334
| ||
|
Costco
Wholesale Corp.
|
943,001
|
956,703
| ||
|
Keurig
Dr Pepper, Inc.
|
54,838,633
|
1,612,256
| ||
|
Kraft
Heinz Co. (The)
|
6,991,915
|
158,437
| ||
|
Mondelez
International, Inc., Class A
|
21,728,620
|
1,335,006
| ||
|
Nestle
SA (ADR) (b)
|
3,538,412
|
359,078
| ||
|
Philip
Morris International, Inc.
|
44,802,173
|
7,395,495
| ||
|
Procter
& Gamble Co.
|
2,544,383
|
374,253
| ||
|
Walmart,
Inc. |
2,593,505
|
342,161
| ||
|
|
|
|
|
18,319,620
|
|
| ||||
|
Health
care 10.85% | ||||
|
Abbott
Laboratories
|
16,008,699
|
1,453,430
| ||
|
AbbVie,
Inc. |
9,627,943
|
2,034,577
| ||
|
Align
Technology, Inc. (a)
|
275,299
|
48,455
| ||
|
Amgen,
Inc. |
7,238,238
|
2,506,240
| ||
|
AstraZeneca
PLC |
2,890,243
|
541,545
| ||
|
Bristol-Myers
Squibb Co.
|
1,681,744
|
101,897
| ||
|
Cardinal
Health, Inc.
|
118,756
|
22,906
| ||
|
CVS
Health Corp.
|
31,734,083
|
2,643,132
| ||
|
Danaher
Corp. |
6,604,036
|
1,181,792
| ||
|
Elevance
Health, Inc.
|
686,979
|
258,592
| ||
|
Eli
Lilly and Co.
|
3,737,802
|
3,493,350
| ||
|
Gilead
Sciences, Inc.
|
11,903,058
|
1,557,396
| ||
|
Humana,
Inc. |
830,534
|
196,371
| ||
|
IDEXX
Laboratories, Inc. (a)
|
454,667
|
254,977
| ||
|
Illumina,
Inc. (a)
|
1,900,000
|
240,806
| ||
|
Johnson
& Johnson
|
3,586,787
|
824,423
| ||
|
McKesson
Corp. |
83,126
|
67,764
| ||
|
Merck
& Co., Inc.
|
3,933,495
|
429,459
| ||
|
Novo
Nordisk AS, Class B (ADR)
|
5,338,458
|
225,390
| ||
|
Thermo
Fisher Scientific, Inc.
|
1,193,147
|
571,470
| ||
|
UnitedHealth
Group, Inc.
|
8,879,646
|
3,289,731
| ||
|
Vertex
Pharmaceuticals, Inc. (a)
|
2,250,814
|
961,953
| ||
|
Zimmer
Biomet Holdings, Inc.
|
4,428,930
|
365,077
| ||
|
|
|
|
|
23,270,733
|
|
| ||||
|
Washington
Mutual Investors Fund |
2 |
|
Common
stocks (continued) |
|
Shares
|
Value
(000)
| |
|
Financials 14.96%
| ||||
|
American
Express Co.
|
1,121,874
|
$362,421
| ||
|
Aon
PLC, Class A
|
1,730,623
|
539,349
| ||
|
Apollo
Asset Management, Inc.
|
6,579,345
|
846,893
| ||
|
Arthur
J. Gallagher & Co.
|
4,580,964
|
945,511
| ||
|
Bank
of America Corp.
|
64,040,882
|
3,423,626
| ||
|
Berkshire
Hathaway, Inc., Class B (a)
|
190,869
|
90,396
| ||
|
BlackRock,
Inc. |
1,557,115
|
1,659,262
| ||
|
Blackstone,
Inc. |
6,575,041
|
825,694
| ||
|
Brookfield
Asset Management, Ltd., Class A
|
6,105,079
|
293,105
| ||
|
Capital
One Financial Corp.
|
6,090,928
|
1,165,194
| ||
|
Carlyle
Group, Inc. (The)
|
5,515,753
|
276,174
| ||
|
Charles
Schwab Corp. (The)
|
1,009,680
|
92,527
| ||
|
Chubb,
Ltd. |
2,119,417
|
693,049
| ||
|
Citigroup,
Inc. |
3,650,000
|
467,127
| ||
|
Citizens
Financial Group, Inc.
|
11,851,810
|
770,960
| ||
|
CME
Group, Inc., Class A
|
3,033,203
|
873,016
| ||
|
Equitable
Holdings, Inc.
|
5,230,896
|
220,744
| ||
|
Fifth
Third Bancorp
|
3,027,607
|
153,681
| ||
|
Goldman
Sachs Group, Inc.
|
306,483
|
283,120
| ||
|
Huntington
Bancshares, Inc.
|
10,441,600
|
175,001
| ||
|
Intercontinental
Exchange, Inc.
|
875,532
|
138,413
| ||
|
JPMorgan
Chase & Co.
|
9,876,276
|
3,093,546
| ||
|
KeyCorp
|
9,883,983
|
218,535
| ||
|
KKR
& Co., Inc.
|
9,989,523
|
1,042,307
| ||
|
Marsh
& McLennan Cos., Inc.
|
20,033,566
|
3,359,829
| ||
|
Mastercard,
Inc., Class A
|
3,832,176
|
1,927,278
| ||
|
Morgan
Stanley |
3,845,294
|
732,875
| ||
|
PNC
Financial Services Group, Inc.
|
155,255
|
34,622
| ||
|
Progressive
Corp. |
4,286,764
|
862,840
| ||
|
S&P
Global, Inc.
|
1,588,287
|
684,917
| ||
|
Truist
Financial Corp.
|
40,354,127
|
2,078,237
| ||
|
Visa,
Inc., Class A
|
8,399,718
|
2,770,563
| ||
|
Wells
Fargo & Co.
|
11,859,734
|
975,226
| ||
|
|
|
|
|
32,076,038
|
|
| ||||
|
Information
technology 21.93% | ||||
|
Accenture
PLC, Class A
|
2,171,773
|
388,118
| ||
|
Adobe,
Inc. (a)
|
477,181
|
117,434
| ||
|
Amphenol
Corp., Class A
|
3,427,016
|
504,697
| ||
|
Apple,
Inc. |
19,178,030
|
5,203,958
| ||
|
Applied
Materials, Inc.
|
1,278,349
|
504,296
| ||
|
ASM
International NV (ADR)
|
74,914
|
73,019
| ||
|
ASML
Holding NV (ADR)
|
1,624,099
|
2,337,062
| ||
|
Broadcom,
Inc. |
38,529,049
|
16,083,181
| ||
|
Cisco
Systems, Inc.
|
3,447,076
|
315,407
| ||
|
Fair
Isaac Corp. (a)
|
172,615
|
176,930
| ||
|
Hewlett
Packard Enterprise Co.
|
8,000,000
|
230,160
| ||
|
Intel
Corp. (a)
|
10,015,237
|
946,240
| ||
|
International
Business Machines Corp.
|
5,183,691
|
1,197,329
| ||
|
KLA
Corp. |
1,599,653
|
2,799,953
| ||
|
Microsoft
Corp. |
24,421,165
|
9,958,463
| ||
|
Motorola
Solutions, Inc.
|
180,373
|
79,189
| ||
|
NVIDIA
Corp. |
17,629,303
|
3,518,280
| ||
|
Salesforce,
Inc. |
4,249,103
|
750,094
| ||
|
SAP
SE (ADR) |
3,375,772
|
572,160
| ||
|
TE
Connectivity PLC
|
1,782,732
|
377,333
| ||
|
Texas
Instruments, Inc.
|
1,341,713
|
377,129
| ||
|
Western
Digital Corp.
|
1,188,334
|
516,355
| ||
|
|
|
|
|
47,026,787
|
|
| ||||
|
Communication
services 6.13% | ||||
|
Alphabet,
Inc., Class A
|
11,239,786
|
4,325,070
| ||
|
Alphabet,
Inc., Class C
|
8,705,430
|
3,324,952
| ||
|
AT&T,
Inc. |
16,541,419
|
432,227
| ||
|
Comcast
Corp., Class A
|
52,367,902
|
1,416,028
| ||
|
3
|
Washington
Mutual Investors Fund |
|
Common
stocks (continued) |
|
Shares
|
Value
(000)
| |
|
Communication
services (continued) | ||||
|
Meta
Platforms, Inc., Class A
|
4,745,466
|
$2,903,798
| ||
|
Netflix,
Inc. (a)
|
3,110,019
|
291,129
| ||
|
Walt
Disney Co. (The)
|
4,330,088
|
449,246
| ||
|
|
|
|
|
13,142,450
|
|
| ||||
|
Utilities 3.78%
| ||||
|
Atmos
Energy Corp.
|
1,174,133
|
223,062
| ||
|
CenterPoint
Energy, Inc.
|
9,976,107
|
435,457
| ||
|
Constellation
Energy Corp.
|
7,897,661
|
2,471,968
| ||
|
DTE
Energy Co.
|
3,868,743
|
586,850
| ||
|
Entergy
Corp. |
2,912,451
|
343,407
| ||
|
Exelon
Corp. |
13,091,285
|
602,068
| ||
|
FirstEnergy
Corp. |
22,845,915
|
1,085,638
| ||
|
Public
Service Enterprise Group, Inc.
|
3,243,509
|
264,865
| ||
|
Sempra
|
10,939,933
|
1,040,606
| ||
|
Southern
Co. (The) |
10,888,442
|
1,052,912
| ||
|
|
|
|
|
8,106,833
|
|
| ||||
|
Real
estate 3.34% | ||||
|
American
Tower Corp. REIT
|
1,647,083
|
300,938
| ||
|
CoStar
Group, Inc. (a)
|
402,336
|
13,925
| ||
|
Extra
Space Storage, Inc. REIT
|
731,902
|
104,903
| ||
|
Prologis,
Inc. REIT |
3,515,373
|
499,253
| ||
|
Public
Storage REIT
|
5,169,211
|
1,563,428
| ||
|
Rexford
Industrial Realty, Inc. REIT
|
2,729,525
|
97,963
| ||
|
Simon
Property Group, Inc. REIT
|
2,774,266
|
565,146
| ||
|
Ventas,
Inc. REIT |
3,787,657
|
332,784
| ||
|
Welltower,
Inc. REIT |
16,900,404
|
3,673,134
| ||
|
|
|
|
|
7,151,474
|
|
Total
common stocks (cost: $113,827,060,000)
|
204,483,916
| |||
|
Convertible
stocks 0.87% |
|
|
| |
|
Industrials 0.36%
| ||||
|
Boeing
Co., Series A, convertible preferred depositary shares, 6.00% 10/15/2027
|
10,730,247
|
774,724
| ||
|
| ||||
|
Financials 0.34%
| ||||
|
Apollo
Global Management, Inc., Class A, cumulative convertible preferred shares, 6.75% 7/31/2026
|
2,000,263
|
131,477
| ||
|
KKR
& Co., Inc., Class D, convertible preferred shares, 6.25% 3/1/2028
|
13,274,895
|
589,140
| ||
|
|
|
|
|
720,617
|
|
| ||||
|
Utilities 0.17%
| ||||
|
Southern
Co. (The), Class A, convertible preferred shares, 7.125% 12/15/2028
|
7,011,132
|
364,789
| ||
|
Total convertible
stocks (cost: $1,740,503,000) |
1,860,130
| |||
|
Short-term
securities 3.66% |
|
|
| |
|
Money
market investments 3.58% | ||||
|
Capital
Group Central Cash Fund 3.67% (c)(d)
|
76,803,903
|
7,679,622
| ||
|
|
|
|
| |
|
Money
market investments purchased with collateral from securities on loan 0.08% | ||||
|
Capital
Group Central Cash Fund 3.67% (c)(d)(e)
|
612,047
|
61,199
| ||
|
BlackRock
Liquidity Funds – FedFund, Institutional Shares 3.54% (d)(e)
|
29,000,000
|
29,000
| ||
|
Morgan
Stanley Institutional Liquidity Funds – Government Portfolio, Institutional Class 3.57% (d)(e)
|
29,000,000
|
29,000
| ||
|
Dreyfus
Treasury Obligations Cash Management, Institutional Shares 3.53% (d)(e)
|
13,600,000
|
13,600
| ||
|
Fidelity Investments
Money Market Government Portfolio, Class I 3.54% (d)(e)
|
10,200,000
|
10,200
| ||
|
Washington
Mutual Investors Fund |
4 |
|
Short-term
securities (continued) |
|
Shares
|
Value
(000)
| |
|
Money
market investments purchased with collateral from securities on loan (continued)
| ||||
|
Goldman
Sachs Financial Square Government Fund, Institutional Shares 3.53% (d)(e)
|
10,200,000
|
$10,200
| ||
|
State
Street Institutional U.S. Government Money Market Fund, Premier Class 3.60% (d)(e)
|
10,200,000
|
10,200
| ||
|
Invesco
Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 3.58% (d)(e)
|
4,275,909
|
4,276
| ||
|
RBC
Funds Trust – U.S. Government Money Market Fund, RBC Institutional Class 1 3.59% (d)(e)
|
3,400,000
|
3,400
| ||
|
|
|
|
|
171,075
|
|
Total
short-term securities (cost: $7,850,820,000)
|
7,850,697
| |||
|
Total
investment securities 99.88%
(cost: $123,418,383,000) |
214,194,743
| |||
|
Other
assets less liabilities 0.12% |
|
|
|
262,082
|
|
Net assets
100.00% |
|
|
|
$214,456,825
|
|
|
Value
at
5/1/2025
(000)
|
Additions
(000)
|
Reductions
(000)
|
Net
realized
gain
(loss)
(000)
|
Net
unrealized
appreciation
(depreciation)
(000)
|
Value
at
4/30/2026
(000)
|
Dividend
or
interest
income
(000)
|
|
Common
stocks 0.14% |
|
|
|
|
|
|
|
|
Consumer
discretionary 0.14% |
|
|
|
|
|
|
|
|
Vail
Resorts, Inc. (b)
|
$255,047
|
$120,008
|
$28,938
|
$(14,829
) |
$(25,702
) |
$305,586
|
$20,896
|
|
Darden
Restaurants, Inc. (f)
|
1,904,080
|
100,819
|
886,169
|
251,445
|
(257,615
) |
—
|
34,798
|
|
|
|
|
|
|
|
305,586
|
|
|
Financials
0.00% |
|
|
|
|
|
|
|
|
Citizens
Financial Group, Inc. (f)
|
837,184
|
95,400
|
767,258
|
224,599
|
381,035
|
—
|
34,460
|
|
Total
common stocks |
|
|
|
|
|
305,586
|
|
|
Short-term
securities 3.61% |
|
|
|
|
|
|
|
|
Money
market investments 3.58% |
|
|
|
|
|
|
|
|
Capital
Group Central Cash Fund 3.67% (d)
|
6,026,247
|
25,195,334
|
23,541,668
|
(600
) |
309
|
7,679,622
|
237,092
|
|
Money
market investments purchased with collateral
from
securities on loan 0.03% |
|
|
|
|
|
|
|
|
Capital
Group Central Cash Fund 3.67% (d)(e)
|
15,111
|
46,088
(g)
|
|
|
|
61,199
|
—
(h)
|
|
Total
short-term securities |
|
|
|
|
|
7,740,821
|
|
|
Total
3.75% |
|
|
|
$460,615
|
$98,027
|
$8,046,407
|
$327,246
|
|
(a)
|
Non-income
producing. |
|
(b)
|
All
or a portion of this security was on loan. Refer to Note 5 for more information on securities lending.
|
|
(c)
|
Affiliate
of the fund or part of the same “group of investment companies“ as the fund, as defined under the Investment Company Act of
1940, as amended. |
|
(d)
|
Rate
represents the seven-day yield at 4/30/2026. |
|
(e)
|
Security
purchased with cash collateral from securities on loan. Refer to Note 5 for more information on securities lending. |
|
(f)
|
Affiliated
issuer during the reporting period but no longer an affiliate at 4/30/2026. Refer to the investment portfolio for the security value at
4/30/2026. |
|
(g)
|
Represents
net activity. Refer to Note 5 for more information on securities lending. |
|
(h)
|
Dividend
income is included with securities lending income in the fund’s statement of operations and is not shown in this table.
|
|
Key
to abbreviation(s) |
|
ADR
= American Depositary Receipts |
|
REIT
= Real Estate Investment Trust |
|
5
|
Washington
Mutual Investors Fund |
|
Assets:
|
|
|
|
Investment
securities, at value (includes $262,367 of
investment
securities on loan): |
|
|
|
Unaffiliated
issuers (cost: $115,227,365) |
$206,148,336
|
|
|
Affiliated
issuers (cost: $8,191,018) |
8,046,407
|
$214,194,743
|
|
Cash
|
|
10,290
|
|
Receivables
for: |
|
|
|
Sales
of investments |
140,595
|
|
|
Sales
of fund’s shares |
533,656
|
|
|
Dividends
|
232,472
|
|
|
Securities
lending income |
38
|
|
|
Other
|
9
|
906,770
|
|
|
|
215,111,803
|
|
Liabilities:
|
|
|
|
Collateral
for securities on loan |
|
171,075
|
|
Payables
for: |
|
|
|
Purchases
of investments |
128,838
|
|
|
Repurchases
of fund’s shares |
267,534
|
|
|
Investment
advisory services |
37,674
|
|
|
Services
provided by related parties |
29,141
|
|
|
Trustees’
deferred compensation |
16,982
|
|
|
Other
|
3,734
|
483,903
|
|
Net
assets at April 30, 2026 |
|
$214,456,825
|
|
Net
assets consist of: |
|
|
|
Capital
paid in on shares of beneficial interest |
|
$115,059,791
|
|
Total
distributable earnings (accumulated loss) |
|
99,397,034
|
|
Net
assets at April
30, 2026 |
|
$214,456,825
|
(dollars and shares in thousands, except per-share amounts)
unlimited shares authorized (3,181,680 total shares outstanding)
|
|
Net assets
|
Shares
outstanding
|
Net
asset value
per
share |
|
Class
A |
$96,344,920
|
1,428,110
|
$67.46
|
|
Class
C |
1,359,516
|
20,603
|
65.99
|
|
Class
T |
16
|
—
* |
67.44
|
|
Class
F-1 |
2,527,898
|
37,710
|
67.03
|
|
Class
F-2 |
40,596,065
|
602,779
|
67.35
|
|
Class
F-3 |
14,532,907
|
215,604
|
67.41
|
|
Class
529-A |
3,884,834
|
57,812
|
67.20
|
|
Class
529-C |
73,388
|
1,101
|
66.66
|
|
Class
529-E |
117,182
|
1,761
|
66.54
|
|
Class
529-T |
31
|
—
* |
67.45
|
|
Class
529-F-1 |
22
|
—
* |
66.86
|
|
Class
529-F-2 |
554,017
|
8,214
|
67.44
|
|
Class
529-F-3 |
108
|
2
|
67.44
|
|
Class
R-1 |
66,558
|
1,004
|
66.27
|
|
Class
R-2 |
789,231
|
12,001
|
65.77
|
|
Class
R-2E |
130,203
|
1,946
|
66.93
|
|
Class
R-3 |
1,760,684
|
26,486
|
66.48
|
|
Class
R-4 |
2,577,834
|
38,563
|
66.85
|
|
Class
R-5E |
596,756
|
8,871
|
67.27
|
|
Class
R-5 |
636,280
|
9,439
|
67.41
|
|
Class
R-6 |
47,908,375
|
709,674
|
67.51
|
|
Washington
Mutual Investors Fund |
6 |
|
Investment
income: |
|
|
|
Income:
|
|
|
|
Dividends
(net of non-U.S. taxes of $14,696;
also
includes $327,246 from affiliates) |
$3,873,004
|
|
|
Interest
from unaffiliated issuers |
2,497
|
|
|
Securities
lending income (net of fees) |
2,453
|
$3,877,954
|
|
Fees
and expenses*: |
|
|
|
Investment
advisory services |
451,895
|
|
|
Distribution
services |
280,091
|
|
|
Transfer
agent services |
103,755
|
|
|
Administrative
services |
61,354
|
|
|
529
plan services |
2,323
|
|
|
Reports
to shareholders |
2,989
|
|
|
Registration
statement and prospectus |
7,094
|
|
|
Trustees’
compensation |
3,552
|
|
|
Auditing
and legal |
445
|
|
|
Custodian
|
3,761
|
|
|
Other
|
316
|
917,575
|
|
Net
investment income |
|
2,960,379
|
|
Net
realized gain (loss) and unrealized appreciation (depreciation): |
|
|
|
Net
realized gain (loss) on: |
|
|
|
Investments:
|
|
|
|
Unaffiliated
issuers |
17,424,374
|
|
|
Affiliated
issuers |
460,615
|
|
|
Currency
transactions |
(144
) |
17,884,845
|
|
Net
unrealized appreciation (depreciation) on: |
|
|
|
Investments:
|
|
|
|
Unaffiliated
issuers |
19,976,952
|
|
|
Affiliated
issuers |
98,027
|
20,074,979
|
|
Net
realized gain (loss) and unrealized appreciation (depreciation) |
|
37,959,824
|
|
Net
increase (decrease) in net assets resulting from operations |
|
$40,920,203
|
|
|
Year ended
April 30, | |
|
|
2026 |
2025
|
|
|
| |
|
Operations:
|
|
|
|
Net
investment income |
$2,960,379
|
$2,941,825
|
|
Net
realized gain (loss) |
17,884,845
|
16,641,421
|
|
Net
unrealized appreciation (depreciation) |
20,074,979
|
2,205,598
|
|
Net
increase (decrease) in net assets resulting from operations |
40,920,203
|
21,788,844
|
|
Distributions
paid to shareholders |
(20,206,890
) |
(18,357,298
) |
|
Net
capital share transactions |
9,877,475
|
6,498,141
|
|
Total
increase (decrease) in net assets
|
30,590,788
|
9,929,687
|
|
Net
assets: |
|
|
|
Beginning
of year |
183,866,037
|
173,936,350
|
|
End
of year |
$214,456,825
|
$183,866,037
|
|
7
|
Washington
Mutual Investors Fund |
|
Share
class |
Initial
sales charge |
Contingent
deferred sales
charge
upon redemption |
Conversion
feature |
|
Classes
A and 529-A |
Up
to 5.75% for
Class
A; up to 3.50% for
Class
529-A |
None
(except 1.00% for certain
redemptions
within 18 months of purchase
without
an initial sales charge) |
None
|
|
Classes
C and 529-C |
None
|
1.00%
for redemptions within one year of
purchase
|
Class
C converts to Class A
after
eight years and Class 529-C
converts
to Class 529-A after five years |
|
Class
529-E |
None
|
None
|
None
|
|
Classes
T and 529-T* |
Up
to 2.50% |
None
|
None
|
|
Classes
F-1, F-2, F-3, 529-F-1,
529-F-2
and 529-F-3 |
None
|
None
|
None
|
|
Classes
R-1, R-2, R-2E, R-3, R-4,
R-5E,
R-5 and R-6 |
None
|
None
|
None
|
|
Washington
Mutual Investors Fund |
8 |
|
9
|
Washington
Mutual Investors Fund |
As of April 30, 2026, all of the fund’s investments were classified as Level 1.
|
Washington
Mutual Investors Fund |
10 |
|
11
|
Washington
Mutual Investors Fund |
|
Undistributed
ordinary income |
$598,215
|
|
Undistributed
long-term capital gains |
8,207,829
|
|
Gross
unrealized appreciation on investments |
93,387,851
|
|
Gross
unrealized depreciation on investments |
(2,779,879
) |
|
Net
unrealized appreciation (depreciation) on investments |
90,607,972
|
|
Cost
of investments |
123,586,771
|
|
|
Year ended April 30, 2026
|
Year ended April 30, 2025
| ||||
|
Share
class |
Ordinary
income
|
Long-term
capital
gains |
Total
distributions
paid
|
Ordinary
income
|
Long-term
capital
gains |
Total
distributions
paid
|
|
Class
A |
$1,247,153
|
$7,915,629
|
$9,162,782
|
$1,187,126
|
$7,209,800
|
$8,396,926
|
|
Class
C |
8,354
|
119,117
|
127,471
|
8,745
|
117,654
|
126,399
|
|
Class
T |
—
* |
1
|
1
|
—
* |
1
|
1
|
|
Class
F-1 |
30,979
|
206,451
|
237,430
|
29,599
|
188,976
|
218,575
|
|
Class
F-2 |
575,037
|
3,211,904
|
3,786,941
|
543,807
|
2,888,461
|
3,432,268
|
|
Class
F-3 |
216,786
|
1,113,732
|
1,330,518
|
184,869
|
908,930
|
1,093,799
|
|
Class
529-A |
48,855
|
318,551
|
367,406
|
46,508
|
290,191
|
336,699
|
|
Class
529-C |
390
|
6,154
|
6,544
|
421
|
6,427
|
6,848
|
|
Class
529-E |
1,228
|
9,849
|
11,077
|
1,216
|
9,266
|
10,482
|
|
Class
529-T |
—
* |
2
|
2
|
1
|
2
|
3
|
|
Class
529-F-1 |
—
* |
2
|
2
|
—
* |
1
|
1
|
|
Class
529-F-2 |
7,976
|
43,505
|
51,481
|
6,924
|
36,060
|
42,984
|
|
Class
529-F-3 |
2
|
9
|
11
|
2
|
11
|
13
|
|
Class
R-1 |
379
|
5,751
|
6,130
|
398
|
5,570
|
5,968
|
|
Class
R-2 |
4,628
|
69,157
|
73,785
|
4,729
|
66,203
|
70,932
|
|
Class
R-2E |
1,095
|
11,057
|
12,152
|
1,040
|
9,918
|
10,958
|
|
Class
R-3 |
17,785
|
152,352
|
170,137
|
17,796
|
145,816
|
163,612
|
|
Class
R-4 |
33,801
|
224,617
|
258,418
|
34,792
|
221,652
|
256,444
|
|
Class
R-5E |
8,385
|
47,425
|
55,810
|
8,314
|
44,755
|
53,069
|
|
Class
R-5 |
10,343
|
55,730
|
66,073
|
10,610
|
55,236
|
65,846
|
|
Class
R-6 |
726,250
|
3,756,469
|
4,482,719
|
677,636
|
3,387,835
|
4,065,471
|
|
Total
|
$2,939,426
|
$17,267,464
|
$20,206,890
|
$2,764,533
|
$15,592,765
|
$18,357,298
|
|
Washington
Mutual Investors Fund |
12 |
|
Share
class |
Currently approved
limits |
Plan
limits |
|
Class
A |
0.25
% |
0.25
% |
|
Class
529-A |
0.25
|
0.50
|
|
Classes
C, 529-C and R-1 |
1.00
|
1.00
|
|
Class
R-2 |
0.75
|
1.00
|
|
Class
R-2E |
0.60
|
0.85
|
|
Classes
529-E and R-3 |
0.50
|
0.75
|
|
Classes
T, F-1, 529-T, 529-F-1 and R-4 |
0.25
|
0.50
|
|
13
|
Washington
Mutual Investors Fund |
|
Share
class |
Distribution
services |
Transfer agent
services |
Administrative
services |
529 plan
services
|
|
Class
A |
$227,728
|
$45,876
|
$28,049
|
Not
applicable |
|
Class
C |
13,718
|
669
|
412
|
Not
applicable |
|
Class
T |
—
|
—
* |
—
* |
Not
applicable |
|
Class
F-1 |
6,010
|
2,781
|
729
|
Not
applicable |
|
Class
F-2 |
Not applicable
|
42,428
|
11,383
|
Not
applicable |
|
Class
F-3 |
Not applicable
|
149
|
3,991
|
Not
applicable |
|
Class
529-A |
8,600
|
1,693
|
1,125
|
$1,955
|
|
Class
529-C |
720
|
33
|
22
|
38
|
|
Class
529-E |
573
|
29
|
34
|
60
|
|
Class
529-T |
—
|
—
* |
—
* |
—
* |
|
Class
529-F-1 |
—
|
—
* |
—
* |
—
* |
|
Class
529-F-2 |
Not applicable
|
184
|
155
|
270
|
|
Class
529-F-3 |
Not applicable
|
—
* |
—
* |
—
* |
|
Class
R-1 |
670
|
61
|
20
|
Not
applicable |
|
Class
R-2 |
5,921
|
2,701
|
237
|
Not
applicable |
|
Class
R-2E |
779
|
261
|
39
|
Not
applicable |
|
Class
R-3 |
8,859
|
2,620
|
531
|
Not
applicable |
|
Class
R-4 |
6,513
|
2,571
|
784
|
Not
applicable |
|
Class
R-5E |
Not applicable
|
855
|
170
|
Not
applicable |
|
Class
R-5 |
Not applicable
|
336
|
197
|
Not
applicable |
|
Class
R-6 |
Not applicable
|
508
|
13,476
|
Not
applicable |
|
|
|
|
|
|
|
Total
class-specific expenses |
$280,091
|
$103,755
|
$61,354
|
$2,323
|
|
Washington
Mutual Investors Fund |
14 |
|
|
Sales* |
Reinvestments of
distributions |
Repurchases* |
Net increase
(decrease) | ||||
|
Share
class |
Amount
|
Shares
|
Amount
|
Shares
|
Amount
|
Shares
|
Amount
|
Shares
|
|
Year
ended April 30, 2026 | ||||||||
|
Class
A |
$3,807,983
|
58,059
|
$8,986,361
|
141,209
|
$(10,862,828
) |
(165,910
) |
$1,931,516
|
33,358
|
|
Class
C |
186,446
|
2,903
|
126,742
|
2,035
|
(381,365
) |
(5,927
) |
(68,177
) |
(989
) |
|
Class
T |
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
|
Class
F-1 |
187,742
|
2,870
|
235,109
|
3,717
|
(340,165
) |
(5,226
) |
82,686
|
1,361
|
|
Class
F-2 |
7,218,292
|
109,986
|
3,705,898
|
58,325
|
(7,993,890
) |
(122,345
) |
2,930,300
|
45,966
|
|
Class
F-3 |
3,017,454
|
45,997
|
1,305,144
|
20,515
|
(2,500,340
) |
(38,190
) |
1,822,258
|
28,322
|
|
Class
529-A |
294,994
|
4,506
|
367,268
|
5,794
|
(572,241
) |
(8,749
) |
90,021
|
1,551
|
|
Class
529-C |
18,100
|
278
|
6,544
|
104
|
(26,788
) |
(412
) |
(2,144
) |
(30
) |
|
Class
529-E |
6,817
|
105
|
11,072
|
176
|
(17,514
) |
(269
) |
375
|
12
|
|
Class
529-T |
—
|
—
|
3
|
—
†
|
—
|
—
|
3
|
—
†
|
|
Class
529-F-1 |
—
|
—
|
2
|
—
†
|
—
|
—
|
2
|
—
†
|
|
Class
529-F-2 |
83,550
|
1,272
|
51,471
|
809
|
(89,050
) |
(1,356
) |
45,971
|
725
|
|
Class
529-F-3 |
—
|
—
|
10
|
—
†
|
(7
) |
—
†
|
3
|
—
†
|
|
Class
R-1 |
6,516
|
101
|
6,127
|
97
|
(14,877
) |
(229
) |
(2,234
) |
(31
) |
|
Class
R-2 |
98,851
|
1,548
|
73,757
|
1,189
|
(193,431
) |
(3,026
) |
(20,823
) |
(289
) |
|
Class
R-2E |
22,759
|
353
|
12,152
|
192
|
(37,036
) |
(568
) |
(2,125
) |
(23
) |
|
Class
R-3 |
208,374
|
3,234
|
169,995
|
2,710
|
(436,198
) |
(6,746
) |
(57,829
) |
(802
) |
|
Class
R-4 |
200,928
|
3,087
|
258,376
|
4,097
|
(576,738
) |
(8,881
) |
(117,434
) |
(1,697
) |
|
Class
R-5E |
104,922
|
1,604
|
55,806
|
880
|
(137,436
) |
(2,091
) |
23,292
|
393
|
|
Class
R-5 |
63,972
|
976
|
65,463
|
1,030
|
(175,733
) |
(2,683
) |
(46,298
) |
(677
) |
|
Class
R-6 |
5,377,783
|
81,419
|
4,482,084
|
70,381
|
(6,591,755
) |
(99,644
) |
3,268,112
|
52,156
|
|
Total
net increase
(decrease)
|
$20,905,483
|
318,298
|
$19,919,384
|
313,260
|
$(30,947,392
) |
(472,252
) |
$9,877,475
|
159,306
|
|
15
|
Washington
Mutual Investors Fund |
|
|
Sales* |
Reinvestments of
distributions |
Repurchases* |
Net increase
(decrease) | ||||
|
Share
class |
Amount
|
Shares
|
Amount
|
Shares
|
Amount
|
Shares
|
Amount
|
Shares
|
|
Year
ended April 30, 2025 | ||||||||
|
Class
A |
$4,180,009
|
66,898
|
$8,242,470
|
136,385
|
$(9,906,295
) |
(158,877
) |
$2,516,184
|
44,406
|
|
Class
C |
188,674
|
3,075
|
125,637
|
2,120
|
(392,843
) |
(6,420
) |
(78,532
) |
(1,225
) |
|
Class
T |
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
|
Class
F-1 |
135,385
|
2,189
|
216,399
|
3,601
|
(320,061
) |
(5,160
) |
31,723
|
630
|
|
Class
F-2 |
5,903,438
|
94,678
|
3,363,224
|
55,730
|
(8,193,323
) |
(131,465
) |
1,073,339
|
18,943
|
|
Class
F-3 |
2,551,124
|
40,755
|
1,078,195
|
17,847
|
(2,155,475
) |
(34,644
) |
1,473,844
|
23,958
|
|
Class
529-A |
317,219
|
5,085
|
336,625
|
5,589
|
(543,526
) |
(8,734
) |
110,318
|
1,940
|
|
Class
529-C |
16,187
|
262
|
6,848
|
115
|
(33,910
) |
(548
) |
(10,875
) |
(171
) |
|
Class
529-E |
9,816
|
159
|
10,481
|
175
|
(21,805
) |
(353
) |
(1,508
) |
(19
) |
|
Class
529-T |
—
|
—
|
2
|
—
†
|
—
|
—
|
2
|
—
†
|
|
Class
529-F-1 |
—
|
—
|
2
|
—
†
|
—
|
—
|
2
|
—
†
|
|
Class
529-F-2 |
86,929
|
1,386
|
42,975
|
711
|
(75,316
) |
(1,204
) |
54,588
|
893
|
|
Class
529-F-3 |
77
|
1
|
13
|
—
†
|
(141
) |
(1
) |
(51
) |
—
†
|
|
Class
R-1 |
7,555
|
123
|
5,966
|
101
|
(15,446
) |
(250
) |
(1,925
) |
(26
) |
|
Class
R-2 |
111,258
|
1,818
|
70,903
|
1,200
|
(200,631
) |
(3,283
) |
(18,470
) |
(265
) |
|
Class
R-2E |
21,932
|
356
|
10,958
|
183
|
(26,577
) |
(429
) |
6,313
|
110
|
|
Class
R-3 |
230,494
|
3,742
|
163,402
|
2,740
|
(429,764
) |
(6,974
) |
(35,868
) |
(492
) |
|
Class
R-4 |
210,810
|
3,401
|
256,416
|
4,278
|
(616,973
) |
(9,956
) |
(149,747
) |
(2,277
) |
|
Class
R-5E |
109,504
|
1,766
|
53,049
|
879
|
(137,753
) |
(2,236
) |
24,800
|
409
|
|
Class
R-5 |
81,452
|
1,299
|
65,259
|
1,081
|
(194,075
) |
(3,107
) |
(47,364
) |
(727
) |
|
Class
R-6 |
2,910,642
|
46,637
|
4,064,787
|
67,217
|
(5,424,061
) |
(86,591
) |
1,551,368
|
27,263
|
|
Total
net increase
(decrease)
|
$17,072,505
|
273,630
|
$18,113,611
|
299,952
|
$(28,687,975
) |
(460,232
) |
$6,498,141
|
113,350
|
|
Washington
Mutual Investors Fund |
16 |
|
|
|
Income (loss) from
investment operations1
|
Dividends and distributions
|
|
|
|
|
| ||||
|
Year
ended |
Net
asset
value,
beginning
of
year |
Net
investment
income
(loss)
|
Net
gains
(losses)
on
securities
(both
realized
and
unrealized)
|
Total
from
investment
operations
|
Dividends
(from
net
investment
income)
|
Distributions
(from
capital
gains)
|
Total
dividends
and
distributions
|
Net
asset
value,
end
of
year |
Total
return2
|
Net
assets,
end
of year
(in
millions) |
Ratio
of
expenses
to
average
net
assets3
|
Ratio
of
net
income
(loss)
to
average
net
assets |
|
| ||||||||||||
|
Class
A: | ||||||||||||
|
4/30/2026
|
$60.88
|
$.88
|
$12.28
|
$13.16
|
$(.89
) |
$(5.69
) |
$(6.58
) |
$67.46
|
22.59
% |
$96,345
|
.55
% |
1.34
% |
|
4/30/2025
|
59.84
|
.92
|
6.32
|
7.24
|
(.87
) |
(5.33
) |
(6.20
) |
60.88
|
12.46
|
84,919
|
.56
|
1.46
|
|
4/30/2024
|
53.38
|
.95
|
9.02
|
9.97
|
(.96
) |
(2.55
) |
(3.51
) |
59.84
|
19.36
|
80,801
|
.57
|
1.69
|
|
4/30/2023
|
55.52
|
1.00
|
.15
|
1.15
|
(1.02
) |
(2.27
) |
(3.29
) |
53.38
|
2.45
|
71,892
|
.57
|
1.91
|
|
4/30/2022
|
56.35
|
.92
|
1.91
|
2.83
|
(.85
) |
(2.81
) |
(3.66
) |
55.52
|
4.98
|
72,922
|
.57
|
1.59
|
|
Class
C: | ||||||||||||
|
4/30/2026
|
59.67
|
.38
|
12.03
|
12.41
|
(.40
) |
(5.69
) |
(6.09
) |
65.99
|
21.69
|
1,360
|
1.31
|
.59
|
|
4/30/2025
|
58.75
|
.44
|
6.21
|
6.65
|
(.40
) |
(5.33
) |
(5.73
) |
59.67
|
11.63
|
1,289
|
1.31
|
.71
|
|
4/30/2024
|
52.48
|
.52
|
8.84
|
9.36
|
(.54
) |
(2.55
) |
(3.09
) |
58.75
|
18.43
|
1,340
|
1.32
|
.94
|
|
4/30/2023
|
54.62
|
.60
|
.15
|
.75
|
(.62
) |
(2.27
) |
(2.89
) |
52.48
|
1.71
|
1,319
|
1.32
|
1.16
|
|
4/30/2022
|
55.48
|
.48
|
1.89
|
2.37
|
(.42
) |
(2.81
) |
(3.23
) |
54.62
|
4.20
|
1,452
|
1.32
|
.84
|
|
Class
T: | ||||||||||||
|
4/30/2026
|
60.87
|
1.04
|
12.27
|
13.31
|
(1.05
) |
(5.69
) |
(6.74
) |
67.44
|
22.88
4
|
—
5
|
.30
4
|
1.59
4
|
|
4/30/2025
|
59.82
|
1.07
|
6.33
|
7.40
|
(1.02
) |
(5.33
) |
(6.35
) |
60.87
|
12.78
4
|
—
5
|
.31
4
|
1.71
4
|
|
4/30/2024
|
53.38
|
1.09
|
9.00
|
10.09
|
(1.10
) |
(2.55
) |
(3.65
) |
59.82
|
19.62
4
|
—
5
|
.32
4
|
1.94
4
|
|
4/30/2023
|
55.51
|
1.14
|
.15
|
1.29
|
(1.15
) |
(2.27
) |
(3.42
) |
53.38
|
2.75
4
|
—
5
|
.30
4
|
2.17
4
|
|
4/30/2022
|
56.34
|
1.06
|
1.92
|
2.98
|
(1.00
) |
(2.81
) |
(3.81
) |
55.51
|
5.25
4
|
—
5
|
.32
4
|
1.84
4
|
|
Class
F-1: | ||||||||||||
|
4/30/2026
|
60.54
|
.83
|
12.19
|
13.02
|
(.84
) |
(5.69
) |
(6.53
) |
67.03
|
22.50
|
2,528
|
.62
|
1.27
|
|
4/30/2025
|
59.53
|
.87
|
6.29
|
7.16
|
(.82
) |
(5.33
) |
(6.15
) |
60.54
|
12.40
|
2,200
|
.62
|
1.40
|
|
4/30/2024
|
53.12
|
.91
|
8.97
|
9.88
|
(.92
) |
(2.55
) |
(3.47
) |
59.53
|
19.28
|
2,126
|
.63
|
1.64
|
|
4/30/2023
|
55.26
|
.97
|
.15
|
1.12
|
(.99
) |
(2.27
) |
(3.26
) |
53.12
|
2.40
|
2,092
|
.63
|
1.85
|
|
4/30/2022
|
56.10
|
.88
|
1.90
|
2.78
|
(.81
) |
(2.81
) |
(3.62
) |
55.26
|
4.91
|
2,216
|
.63
|
1.52
|
|
Class
F-2: | ||||||||||||
|
4/30/2026
|
60.79
|
1.00
|
12.25
|
13.25
|
(1.00
) |
(5.69
) |
(6.69
) |
67.35
|
22.81
|
40,596
|
.37
|
1.52
|
|
4/30/2025
|
59.76
|
1.03
|
6.32
|
7.35
|
(.99
) |
(5.33
) |
(6.32
) |
60.79
|
12.69
|
33,849
|
.37
|
1.65
|
|
4/30/2024
|
53.32
|
1.06
|
9.00
|
10.06
|
(1.07
) |
(2.55
) |
(3.62
) |
59.76
|
19.57
|
32,142
|
.37
|
1.89
|
|
4/30/2023
|
55.46
|
1.10
|
.15
|
1.25
|
(1.12
) |
(2.27
) |
(3.39
) |
53.32
|
2.67
|
27,795
|
.37
|
2.10
|
|
4/30/2022
|
56.29
|
1.03
|
1.92
|
2.95
|
(.97
) |
(2.81
) |
(3.78
) |
55.46
|
5.18
|
28,561
|
.37
|
1.78
|
|
Class
F-3: | ||||||||||||
|
4/30/2026
|
60.84
|
1.07
|
12.27
|
13.34
|
(1.08
) |
(5.69
) |
(6.77
) |
67.41
|
22.95
|
14,533
|
.26
|
1.64
|
|
4/30/2025
|
59.80
|
1.10
|
6.32
|
7.42
|
(1.05
) |
(5.33
) |
(6.38
) |
60.84
|
12.81
|
11,394
|
.26
|
1.76
|
|
4/30/2024
|
53.35
|
1.12
|
9.01
|
10.13
|
(1.13
) |
(2.55
) |
(3.68
) |
59.80
|
19.71
|
9,767
|
.26
|
2.00
|
|
4/30/2023
|
55.49
|
1.16
|
.15
|
1.31
|
(1.18
) |
(2.27
) |
(3.45
) |
53.35
|
2.77
|
8,172
|
.26
|
2.21
|
|
4/30/2022
|
56.32
|
1.09
|
1.92
|
3.01
|
(1.03
) |
(2.81
) |
(3.84
) |
55.49
|
5.30
|
7,842
|
.26
|
1.89
|
|
Class
529-A: | ||||||||||||
|
4/30/2026
|
60.67
|
.86
|
12.22
|
13.08
|
(.86
) |
(5.69
) |
(6.55
) |
67.20
|
22.54
|
3,885
|
.59
|
1.31
|
|
4/30/2025
|
59.64
|
.89
|
6.31
|
7.20
|
(.84
) |
(5.33
) |
(6.17
) |
60.67
|
12.45
|
3,413
|
.59
|
1.43
|
|
4/30/2024
|
53.22
|
.93
|
8.98
|
9.91
|
(.94
) |
(2.55
) |
(3.49
) |
59.64
|
19.29
|
3,240
|
.61
|
1.66
|
|
4/30/2023
|
55.36
|
.98
|
.15
|
1.13
|
(1.00
) |
(2.27
) |
(3.27
) |
53.22
|
2.42
|
2,923
|
.61
|
1.87
|
|
4/30/2022
|
56.20
|
.89
|
1.91
|
2.80
|
(.83
) |
(2.81
) |
(3.64
) |
55.36
|
4.94
|
2,952
|
.60
|
1.55
|
|
17
|
Washington
Mutual Investors Fund |
|
|
|
Income (loss) from
investment operations1
|
Dividends and distributions
|
|
|
|
|
| ||||
|
Year
ended |
Net
asset
value,
beginning
of
year |
Net
investment
income
(loss)
|
Net
gains
(losses)
on
securities
(both
realized
and
unrealized)
|
Total
from
investment
operations
|
Dividends
(from
net
investment
income)
|
Distributions
(from
capital
gains)
|
Total
dividends
and
distributions
|
Net
asset
value,
end
of
year |
Total
return2
|
Net
assets,
end
of year
(in
millions) |
Ratio
of
expenses
to
average
net
assets3 |
Ratio
of
net
income
(loss)
to
average
net
assets |
|
Class
529-C: | ||||||||||||
|
4/30/2026
|
$60.22
|
$.35
|
$12.14
|
$12.49
|
$(.36
) |
$(5.69
) |
$(6.05
) |
$66.66
|
21.59
% |
$73
|
1.36
% |
.54
% |
|
4/30/2025
|
59.22
|
.42
|
6.27
|
6.69
|
(.36
) |
(5.33
) |
(5.69
) |
60.22
|
11.61
|
68
|
1.35
|
.67
|
|
4/30/2024
|
52.87
|
.50
|
8.90
|
9.40
|
(.50
) |
(2.55
) |
(3.05
) |
59.22
|
18.37
|
77
|
1.37
|
.90
|
|
4/30/2023
|
54.99
|
.57
|
.16
|
.73
|
(.58
) |
(2.27
) |
(2.85
) |
52.87
|
1.64
|
83
|
1.38
|
1.10
|
|
4/30/2022
|
55.84
|
.45
|
1.90
|
2.35
|
(.39
) |
(2.81
) |
(3.20
) |
54.99
|
4.14
|
93
|
1.36
|
.79
|
|
Class
529-E: | ||||||||||||
|
4/30/2026
|
60.13
|
.69
|
12.11
|
12.80
|
(.70
) |
(5.69
) |
(6.39
) |
66.54
|
22.25
|
117
|
.84
|
1.06
|
|
4/30/2025
|
59.16
|
.73
|
6.26
|
6.99
|
(.69
) |
(5.33
) |
(6.02
) |
60.13
|
12.17
|
105
|
.83
|
1.19
|
|
4/30/2024
|
52.82
|
.78
|
8.91
|
9.69
|
(.80
) |
(2.55
) |
(3.35
) |
59.16
|
19.01
|
105
|
.85
|
1.41
|
|
4/30/2023
|
54.96
|
.84
|
.16
|
1.00
|
(.87
) |
(2.27
) |
(3.14
) |
52.82
|
2.17
|
98
|
.85
|
1.62
|
|
4/30/2022
|
55.82
|
.75
|
1.89
|
2.64
|
(.69
) |
(2.81
) |
(3.50
) |
54.96
|
4.69
|
103
|
.85
|
1.31
|
|
Class
529-T: | ||||||||||||
|
4/30/2026
|
60.87
|
1.01
|
12.28
|
13.29
|
(1.02
) |
(5.69
) |
(6.71
) |
67.45
|
22.84
4
|
—
5
|
.35
4
|
1.55
4
|
|
4/30/2025
|
59.83
|
1.04
|
6.32
|
7.36
|
(.99
) |
(5.33
) |
(6.32
) |
60.87
|
12.68
4
|
—
5
|
.36
4
|
1.66
4
|
|
4/30/2024
|
53.38
|
1.06
|
9.01
|
10.07
|
(1.07
) |
(2.55
) |
(3.62
) |
59.83
|
19.56
4
|
—
5
|
.37
4
|
1.88
4
|
|
4/30/2023
|
55.51
|
1.11
|
.16
|
1.27
|
(1.13
) |
(2.27
) |
(3.40
) |
53.38
|
2.69
4
|
—
5
|
.36
4
|
2.11
4
|
|
4/30/2022
|
56.34
|
1.03
|
1.91
|
2.94
|
(.96
) |
(2.81
) |
(3.77
) |
55.51
|
5.18
4
|
—
5
|
.38
4
|
1.77
4
|
|
Class
529-F-1: | ||||||||||||
|
4/30/2026
|
60.39
|
.95
|
12.18
|
13.13
|
(.97
) |
(5.69
) |
(6.66
) |
66.86
|
22.73
4
|
—
5
|
.43
4
|
1.47
4
|
|
4/30/2025
|
59.40
|
.98
|
6.28
|
7.26
|
(.94
) |
(5.33
) |
(6.27
) |
60.39
|
12.62
4
|
—
5
|
.44
4
|
1.58
4
|
|
4/30/2024
|
53.02
|
1.02
|
8.94
|
9.96
|
(1.03
) |
(2.55
) |
(3.58
) |
59.40
|
19.49
4
|
—
5
|
.43
4
|
1.83
4
|
|
4/30/2023
|
55.17
|
1.06
|
.15
|
1.21
|
(1.09
) |
(2.27
) |
(3.36
) |
53.02
|
2.59
4
|
—
5
|
.44
4
|
2.03
4
|
|
4/30/2022
|
56.01
|
.99
|
1.90
|
2.89
|
(.92
) |
(2.81
) |
(3.73
) |
55.17
|
5.13
4
|
—
5
|
.43
4
|
1.72
4
|
|
Class
529-F-2: | ||||||||||||
|
4/30/2026
|
60.87
|
1.02
|
12.26
|
13.28
|
(1.02
) |
(5.69
) |
(6.71
) |
67.44
|
22.85
|
554
|
.35
|
1.55
|
|
4/30/2025
|
59.83
|
1.05
|
6.32
|
7.37
|
(1.00
) |
(5.33
) |
(6.33
) |
60.87
|
12.71
|
456
|
.35
|
1.67
|
|
4/30/2024
|
53.38
|
1.07
|
9.01
|
10.08
|
(1.08
) |
(2.55
) |
(3.63
) |
59.83
|
19.59
|
395
|
.36
|
1.90
|
|
4/30/2023
|
55.52
|
1.11
|
.15
|
1.26
|
(1.13
) |
(2.27
) |
(3.40
) |
53.38
|
2.71
|
327
|
.34
|
2.13
|
|
4/30/2022
|
56.34
|
1.04
|
1.92
|
2.96
|
(.97
) |
(2.81
) |
(3.78
) |
55.52
|
5.19
|
303
|
.36
|
1.79
|
|
Class
529-F-3: | ||||||||||||
|
4/30/2026
|
60.87
|
1.04
|
12.26
|
13.30
|
(1.04
) |
(5.69
) |
(6.73
) |
67.44
|
22.86
|
—
5
|
.31
|
1.59
|
|
4/30/2025
|
59.82
|
1.07
|
6.33
|
7.40
|
(1.02
) |
(5.33
) |
(6.35
) |
60.87
|
12.76
|
—
5
|
.31
|
1.70
|
|
4/30/2024
|
53.37
|
.95
|
9.15
|
10.10
|
(1.10
) |
(2.55
) |
(3.65
) |
59.82
|
19.63
|
—
5
|
.32
|
1.66
|
|
4/30/2023
|
55.51
|
1.13
|
.15
|
1.28
|
(1.15
) |
(2.27
) |
(3.42
) |
53.37
|
2.72
|
—
5
|
.32
|
2.15
|
|
4/30/2022
|
56.34
|
1.06
|
1.92
|
2.98
|
(1.00
) |
(2.81
) |
(3.81
) |
55.51
|
5.25
|
—
5
|
.32
|
1.84
|
|
Class
R-1: | ||||||||||||
|
4/30/2026
|
59.91
|
.35
|
12.07
|
12.42
|
(.37
) |
(5.69
) |
(6.06
) |
66.27
|
21.62
|
67
|
1.35
|
.54
|
|
4/30/2025
|
58.96
|
.42
|
6.24
|
6.66
|
(.38
) |
(5.33
) |
(5.71
) |
59.91
|
11.59
|
62
|
1.34
|
.68
|
|
4/30/2024
|
52.66
|
.51
|
8.87
|
9.38
|
(.53
) |
(2.55
) |
(3.08
) |
58.96
|
18.40
|
63
|
1.35
|
.91
|
|
4/30/2023
|
54.79
|
.59
|
.16
|
.75
|
(.61
) |
(2.27
) |
(2.88
) |
52.66
|
1.68
|
61
|
1.34
|
1.14
|
|
4/30/2022
|
55.64
|
.46
|
1.90
|
2.36
|
(.40
) |
(2.81
) |
(3.21
) |
54.79
|
4.18
|
68
|
1.35
|
.80
|
|
Washington
Mutual Investors Fund |
18 |
|
|
|
Income (loss) from
investment operations1
|
Dividends and distributions
|
|
|
|
|
| ||||
|
Year
ended |
Net
asset
value,
beginning
of
year |
Net
investment
income
(loss)
|
Net
gains
(losses)
on
securities
(both
realized
and
unrealized)
|
Total
from
investment
operations
|
Dividends
(from
net
investment
income)
|
Distributions
(from
capital
gains)
|
Total
dividends
and
distributions
|
Net
asset
value,
end
of
year |
Total
return2
|
Net
assets,
end
of year
(in
millions) |
Ratio
of
expenses
to
average
net
assets3 |
Ratio
of
net
income
(loss)
to
average
net
assets |
|
Class
R-2: | ||||||||||||
|
4/30/2026
|
$59.50
|
$.35
|
$11.99
|
$12.34
|
$(.38
) |
$(5.69
) |
$(6.07
) |
$65.77
|
21.62
% |
$789
|
1.35
% |
.55
% |
|
4/30/2025
|
58.60
|
.41
|
6.20
|
6.61
|
(.38
) |
(5.33
) |
(5.71
) |
59.50
|
11.59
|
731
|
1.35
|
.67
|
|
4/30/2024
|
52.36
|
.50
|
8.82
|
9.32
|
(.53
) |
(2.55
) |
(3.08
) |
58.60
|
18.40
|
736
|
1.35
|
.91
|
|
4/30/2023
|
54.51
|
.58
|
.15
|
.73
|
(.61
) |
(2.27
) |
(2.88
) |
52.36
|
1.67
|
675
|
1.36
|
1.12
|
|
4/30/2022
|
55.38
|
.45
|
1.89
|
2.34
|
(.40
) |
(2.81
) |
(3.21
) |
54.51
|
4.15
|
701
|
1.35
|
.80
|
|
Class
R-2E: | ||||||||||||
|
4/30/2026
|
60.45
|
.54
|
12.19
|
12.73
|
(.56
) |
(5.69
) |
(6.25
) |
66.93
|
21.96
|
130
|
1.06
|
.83
|
|
4/30/2025
|
59.44
|
.60
|
6.29
|
6.89
|
(.55
) |
(5.33
) |
(5.88
) |
60.45
|
11.93
|
119
|
1.06
|
.96
|
|
4/30/2024
|
53.06
|
.67
|
8.95
|
9.62
|
(.69
) |
(2.55
) |
(3.24
) |
59.44
|
18.74
|
110
|
1.06
|
1.20
|
|
4/30/2023
|
55.19
|
.74
|
.16
|
.90
|
(.76
) |
(2.27
) |
(3.03
) |
53.06
|
1.97
|
98
|
1.06
|
1.41
|
|
4/30/2022
|
56.03
|
.63
|
1.90
|
2.53
|
(.56
) |
(2.81
) |
(3.37
) |
55.19
|
4.47
|
95
|
1.06
|
1.09
|
|
Class
R-3: | ||||||||||||
|
4/30/2026
|
60.08
|
.64
|
12.11
|
12.75
|
(.66
) |
(5.69
) |
(6.35
) |
66.48
|
22.14
|
1,761
|
.91
|
.99
|
|
4/30/2025
|
59.12
|
.69
|
6.25
|
6.94
|
(.65
) |
(5.33
) |
(5.98
) |
60.08
|
12.09
|
1,640
|
.91
|
1.11
|
|
4/30/2024
|
52.79
|
.75
|
8.90
|
9.65
|
(.77
) |
(2.55
) |
(3.32
) |
59.12
|
18.93
|
1,642
|
.91
|
1.35
|
|
4/30/2023
|
54.93
|
.81
|
.15
|
.96
|
(.83
) |
(2.27
) |
(3.10
) |
52.79
|
2.11
|
1,510
|
.91
|
1.56
|
|
4/30/2022
|
55.78
|
.71
|
1.90
|
2.61
|
(.65
) |
(2.81
) |
(3.46
) |
54.93
|
4.64
|
1,663
|
.91
|
1.24
|
|
Class
R-4: | ||||||||||||
|
4/30/2026
|
60.38
|
.84
|
12.17
|
13.01
|
(.85
) |
(5.69
) |
(6.54
) |
66.85
|
22.52
|
2,578
|
.61
|
1.29
|
|
4/30/2025
|
59.39
|
.88
|
6.27
|
7.15
|
(.83
) |
(5.33
) |
(6.16
) |
60.38
|
12.42
|
2,431
|
.61
|
1.41
|
|
4/30/2024
|
53.01
|
.92
|
8.95
|
9.87
|
(.94
) |
(2.55
) |
(3.49
) |
59.39
|
19.29
|
2,526
|
.61
|
1.66
|
|
4/30/2023
|
55.15
|
.97
|
.15
|
1.12
|
(.99
) |
(2.27
) |
(3.26
) |
53.01
|
2.42
|
2,468
|
.61
|
1.87
|
|
4/30/2022
|
55.99
|
.89
|
1.90
|
2.79
|
(.82
) |
(2.81
) |
(3.63
) |
55.15
|
4.94
|
2,738
|
.61
|
1.54
|
|
Class
R-5E: | ||||||||||||
|
4/30/2026
|
60.73
|
.97
|
12.24
|
13.21
|
(.98
) |
(5.69
) |
(6.67
) |
67.27
|
22.74
|
597
|
.41
|
1.49
|
|
4/30/2025
|
59.70
|
1.00
|
6.32
|
7.32
|
(.96
) |
(5.33
) |
(6.29
) |
60.73
|
12.65
|
515
|
.41
|
1.61
|
|
4/30/2024
|
53.27
|
1.04
|
8.99
|
10.03
|
(1.05
) |
(2.55
) |
(3.60
) |
59.70
|
19.52
|
482
|
.41
|
1.86
|
|
4/30/2023
|
55.41
|
1.08
|
.15
|
1.23
|
(1.10
) |
(2.27
) |
(3.37
) |
53.27
|
2.61
|
508
|
.41
|
2.06
|
|
4/30/2022
|
56.25
|
1.00
|
1.91
|
2.91
|
(.94
) |
(2.81
) |
(3.75
) |
55.41
|
5.14
|
485
|
.41
|
1.74
|
|
Class
R-5: | ||||||||||||
|
4/30/2026
|
60.84
|
1.04
|
12.26
|
13.30
|
(1.04
) |
(5.69
) |
(6.73
) |
67.41
|
22.88
|
636
|
.31
|
1.59
|
|
4/30/2025
|
59.80
|
1.07
|
6.32
|
7.39
|
(1.02
) |
(5.33
) |
(6.35
) |
60.84
|
12.75
|
616
|
.31
|
1.71
|
|
4/30/2024
|
53.36
|
1.09
|
9.00
|
10.09
|
(1.10
) |
(2.55
) |
(3.65
) |
59.80
|
19.62
|
648
|
.31
|
1.95
|
|
4/30/2023
|
55.49
|
1.14
|
.15
|
1.29
|
(1.15
) |
(2.27
) |
(3.42
) |
53.36
|
2.73
|
676
|
.31
|
2.17
|
|
4/30/2022
|
56.32
|
1.06
|
1.92
|
2.98
|
(1.00
) |
(2.81
) |
(3.81
) |
55.49
|
5.25
|
815
|
.31
|
1.84
|
|
Class
R-6: | ||||||||||||
|
4/30/2026
|
60.92
|
1.07
|
12.29
|
13.36
|
(1.08
) |
(5.69
) |
(6.77
) |
67.51
|
22.95
|
47,908
|
.26
|
1.63
|
|
4/30/2025
|
59.87
|
1.10
|
6.33
|
7.43
|
(1.05
) |
(5.33
) |
(6.38
) |
60.92
|
12.82
|
40,059
|
.26
|
1.76
|
|
4/30/2024
|
53.41
|
1.12
|
9.02
|
10.14
|
(1.13
) |
(2.55
) |
(3.68
) |
59.87
|
19.70
|
37,736
|
.26
|
2.00
|
|
4/30/2023
|
55.55
|
1.16
|
.15
|
1.31
|
(1.18
) |
(2.27
) |
(3.45
) |
53.41
|
2.76
|
32,937
|
.26
|
2.21
|
|
4/30/2022
|
56.38
|
1.09
|
1.92
|
3.01
|
(1.03
) |
(2.81
) |
(3.84
) |
55.55
|
5.30
|
32,755
|
.26
|
1.89
|
|
|
Year ended April 30,
| ||||
|
20267
|
2025
|
2024
|
2023
|
2022
| |
|
Portfolio
turnover rate for all share classes6
|
32
% |
29
% |
31
% |
30
% |
19
% |
|
19
|
Washington
Mutual Investors Fund |
|
1
|
Based
on average shares outstanding. |
|
2
|
Total
returns exclude any applicable sales charges, including contingent deferred sales charges. |
|
3
|
Ratios
do not include expenses of any Central Funds. The fund indirectly bears its proportionate share of the expenses of any Central Funds.
|
|
4
|
All
or a significant portion of assets in this class consisted of seed capital invested by CRMC and/or its affiliates. Fees for distribution
services are not charged or
accrued
on these seed capital assets. If such fees were paid by the fund on seed capital assets, fund expenses would have been higher and net
income and total
return
would have been lower. |
|
5
|
Amount
less than $1 million. |
|
6
|
Rates
do not include the fund’s portfolio activity with respect to any Central Funds. |
|
7
|
Rates
exclude in-kind transactions, if any. |
|
Washington
Mutual Investors Fund |
20 |
|
21
|
Washington
Mutual Investors Fund |
Washington Mutual Investors Fund
Part C
Other Information
| Item 28. | Exhibits for Registration Statement (1940 Act No. 811-01435 and 1933 Act No. 002-11051) |
| (a-1) | Articles of Incorporation – Certificate of Trust dated 8/20/09 – previously filed (see P/E Amendment No. 120 filed 6/30/10) |
| (a-2) | Amended and Restated Agreement and Declaration of Trust dated 6/26/26 |
| (b) | By-Laws – Amended and Restated By-laws effective 10/18/18 – previously filed (see P/E Amendment No. 145 filed 6/28/19) |
| (c) | Instruments Defining Rights of Security Holders – Form of Share Certificate – previously filed (see P/E Amendment No. 104 filed 3/15/01) |
| (d) | Investment Advisory Contracts – Amended and Restated Investment Advisory and Service Agreement effective 9/1/22 – previously filed (see P/E Amendment No. 151 filed 6/30/23) |
| (e-1) | Underwriting Contracts –Form of Selling Group Agreement – previously filed (see P/E Amendment No. 141 filed 6/30/17); Form of Bank/Trust Company Selling Group Agreement – previously filed (see P/E Amendment No. 141 filed 6/30/17); Form of Class F Share Participation Agreement – previously filed (see P/E Amendment No. 141 filed 6/30/17); and Form of Bank/Trust Company Participation Agreement for Class F Shares – previously filed (see P/E Amendment No. 141 filed 6/30/17) |
| (e-2) | Amended and Restated Principal Underwriting Agreement effective 6/26/26 |
| (f) | Bonus or Profit Sharing Contracts – Deferred Compensation Plan effective 1/1/26 |
| (g-1) | Custodian Agreements – Form of Global Custody Agreement dated 12/21/06 – previously filed (see P/E Amendment No. 125 filed 6/28/13); and Form of Amendment to Global Custody Agreement effective 7/1/15 – previously filed (see P/E Amendment No. 131 filed 6/30/15) |
| (g-2) | Form of Amendment to Global Custody Agreement effective 2/24/26 |
| (h-1) | Other Material Contracts – Form of Indemnification Agreement dated 7/1/10 – previously filed (see P/E Amendment No. 120 filed 6/30/10); Agreement and Plan of Reorganization – previously filed (see P/E Amendment No. 120 filed 6/30/10); Form of Fund of Funds Investment Agreement – American Funds (Rule 12d1-4) – previously filed (see P/E Amendment No. 150 filed 6/30/22) 1/1/23 – previously filed (see P/E Amendment No. 151 filed 6/30/23) |
| (h-2) | Amended and Restated Administrative Services Agreement effective 6/26/26; and Amended and Restated Shareholder Services Agreement effective 6/26/26 |
| (i) | Legal Opinion – Legal Opinion – previously filed (see P/E Amendment No. 120 filed 6/30/10; P/E Amendment No. 129 filed 8/28/14; P/E Amendment No. 133 filed 10/30/15; P/E Amendment No. 137 filed 12/29/16; P/E Amendment No. 139 filed 4/6/17); and P/E Amendment No. 147 filed 6/29/20) |
| (j) | Other Opinions – Consent of Independent Registered Public Accounting Firm |
| (k) | Omitted Financial Statements – None |
| (l) | Initial Capital Agreements – None |
| (m) | Rule 12b-1 Plan – Form of Amended and Restated Plans of Distribution for Class A, C, F-1, 529-A, 529-C, 529-E, R-1, R-2, R-2E, R-3 and R-4 shares dated 9/1/20 – previously filed (see P/E Amendment No. 149 filed 6/30/21) |
| (n) | Rule 18f-3 Plan – Amended and Restated Multiple Class Plan effective 6/26/26 |
| (o) | Reserved |
| (p) | Code of Ethics – Code of Ethics for The Capital Group Companies dated May 2026; and Code of Ethics for the Registrant |
| Item 29. | Persons Controlled by or Under Common Control with the Fund |
None
| Item 30. | Indemnification |
The Registrant is a joint-insured under Investment Adviser/Mutual Fund Errors and Omissions Policies, which insure its officers and trustees against certain liabilities. However, in no event will Registrant maintain insurance to indemnify any such person for any act for which Registrant itself is not permitted to indemnify the individual.
Article 8 of the Registrant's Declaration of Trust as well as the indemnification agreements that the Registrant has entered into with each of its trustees who is not an “interested person” of the Registrant (as defined under the Investment Company Act of 1940, as amended), provide in effect that the Registrant will indemnify its officers and trustees against any liability or expenses actually and reasonably incurred by such person in any proceeding arising out of or in connection with his or her service to the Registrant, to the fullest extent permitted by applicable law, subject to certain conditions. In accordance with Section 17(h) and 17(i) of the Investment Company Act of 1940, as amended, and their respective terms, these provisions do not protect any person against any liability to the Registrant or its shareholders to which such person would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence, or reckless disregard of the duties involved in the conduct of his or her office.
Insofar as indemnification for liability arising under the Securities Act of 1933 may be permitted to trustees, officers and controlling persons of the Registrant pursuant to the
foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a trustee, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such trustee, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.
Registrant will comply with the indemnification requirements contained in the Investment Company Act of 1940, as amended, and Release Nos. 7221 (June 9, 1972) and 11330 (September 4, 1980).
| Item 31. | Business and Other Connections of Investment Adviser |
None.
| Item 32. | Principal Underwriters |
(a) Capital Client Group, Inc. is the Principal Underwriter of shares of: AMCAP Fund, American Balanced Fund, American Funds College Target Date Series, American Funds Core Plus Bond Fund, American Funds Corporate Bond Fund, American Funds Developing World Growth and Income Fund, American Funds Emerging Markets Bond Fund, American Funds Fundamental Investors, American Funds Global Balanced Fund, American Funds Global Insight Fund, The American Funds Income Series, American Funds Inflation Linked Bond Fund, American Funds International Vantage Fund, American Funds Mortgage Fund, American Funds Multi-Sector Income Fund, American Funds Portfolio Series, American Funds Retirement Income Portfolio Series, American Funds Short-Term Tax-Exempt Bond Fund, American Funds Strategic Bond Fund, American Funds Target Date Retirement Series, American Funds Tax-Exempt Fund of New York, The American Funds Tax-Exempt Series II, American Funds U.S. Government Money Market Fund, American Funds U.S. Small and Mid Cap Equity Fund, American High-Income Municipal Bond Fund, American High-Income Trust, American Mutual Fund, The Bond Fund of America, Capital Group Completion Fund Series, Capital Group Conservative Equity ETF, Capital Group Core Balanced ETF, Capital Group Core Equity ETF, Capital Group Dividend Growers ETF, Capital Group Dividend Value ETF, Capital Group Equity ETF Trust I, Capital Group Fixed Income ETF Trust, Capital Group Global Equity ETF, Capital Group Global Growth Equity ETF, Capital Group Growth ETF, Capital Group International Core Equity ETF, Capital Group International Equity ETF, Capital Group International Focus Equity ETF, Capital Group KKR Core Plus+, Capital Group KKR Multi-Sector+, Capital Group KKR U.S. Equity+, Capital Group New Geography Equity ETF, Capital Group Private Client Services Funds, Capital Group U.S. Equity Fund, Capital Income Builder, Capital World Bond Fund, Capital World Growth and Income Fund, Emerging Markets Equities Fund, Inc., EUPAC Fund, The Growth Fund of America, The Income Fund of America, Intermediate Bond Fund of America, International Growth and Income Fund, The Investment Company of America, Limited Term Tax-Exempt Bond Fund of America, The New Economy Fund, New Perspective Fund, New World Fund, Inc., Short-Term Bond Fund of America,
SMALLCAP World Fund, Inc., The Tax-Exempt Bond Fund of America and Washington Mutual Investors Fund
(b)
|
(1) Name and Principal Business Address |
(2) Positions and Offices with Underwriter |
(3) Positions and Offices with Registrant | |
| LAO | Katherine Abbott | Regional Vice President | None |
| CHO |
Chatelaine Achterberg |
Assistant Vice President | None |
| LAO | Alex J. Adair | Regional Vice President | None |
| LAO | Samuel Adams | Regional Vice President | None |
| LAO | Anuj K. Agarwal | Vice President | None |
| LAO | Albert Aguilar, Jr. | Director, Vice President and Chief Compliance Officer | None |
| SNO | David A. Ajluni | Regional Vice President | None |
| LAO | C. Thomas Akin II | Senior Vice President | None |
| LAO | Anthony Albano | Regional Vice President | None |
| LAO | Mark G. Alteri | Regional Vice President | None |
| LAO | Jeremy Alyea | Regional Vice President | None |
| LAO | Colleen M. Ambrose | Vice President | None |
| LAO | Christopher S. Anast | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Blake J. Anderson | Assistant Vice President | None |
| LAO | Dion T. Angelopoulos | Assistant Vice President | None |
| CHO | Erik J. Applegate | Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Luis F. Arocha | Vice President | None |
| LAO | Keith D. Ashley | Regional Vice President | None |
| LAO | Julie A. Asher | Assistant Vice President | None |
| LAO | Curtis A. Baker | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | T. Patrick Bardsley | Senior Vice President | None |
| SNO | Mark C. Barile | Vice President | None |
| LAO | Shakeel A. Barkat | Senior Vice President | None |
| LAO | Antonio M. Bass | Senior Vice President | None |
| LAO | Andrew Z. Bates | Assistant Vice President | None |
| LAO | Katherine A. Beattie | Senior Vice President | None |
| LAO | Scott G. Beckerman | Senior Vice President | None |
| LAO | Jeb M. Bent | Senior Vice President | None |
| LAO | Matthew D. Benton | Senior Vice President | None |
| LAO | Jerry R. Berg | Senior Vice President | None |
| LAO | Joseph W. Best, Jr. | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Matthew F. Betley | Vice President | None |
| LAO | Roger J. Bianco, Jr. | Senior Vice President | None |
| LAO | Ryan M. Bickle | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Joseph Bilello | Regional Vice President | None |
| LAO | Jay A. Binstock | Assistant Vice President | None |
| LAO | Peter D. Bjork | Regional Vice President | None |
| DCO | Bryan K. Blankenship | Senior Vice President | None |
| LAO | Marek Blaskovic | Vice President | None |
| LAO | Matthew C. Bloemer | Regional Vice President | None |
| LAO | Erick K. Bodge | Regional Vice President | None |
| LAO | Gerard M. Bockstie, Jr. | Senior Vice President | None |
| LAO | Jon T. Boldt | Regional Vice President | None |
| LAO | Ainsley J. Borel | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Jill M. Boudreau | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Andre W. Bouvier | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Jordan C. Bowers | Regional Vice President | None |
| LAO | David H. Bradin | Senior Vice President | None |
| LAO | William J. Brady | Regional Vice President | None |
| LAO | William P. Brady | Senior Vice President | None |
| LAO | Andrew A. Bredholt | Regional Vice President | None |
| LAO | William G. Bridge | Senior Vice President | None |
| LAO | Siobhan M. Broadbery | Regional Vice President | None |
| LAO | Lorena B. Brockman | Vice President | None |
| LAO | Kevin G. Broulette | Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | E. Chapman Brown, Jr. | Senior Vice President | None |
| LAO | Elizabeth S. Brownlow | Vice President | None |
| LAO | Gary D. Bryce | Senior Vice President | None |
| LAO | Christopher Bucci | Regional Vice President | None |
| NYO | Melissa Buccilli | Senior Vice President | None |
| SNO | Dylan J. Burdick | Regional Vice President | None |
| LAO | Kenneth D. Burdick | Assistant Vice President | None |
| LAO | Carmen A. Burke | Vice President | None |
| IND | Jennifer L. Butler | Assistant Vice President | None |
| LAO | Steven Calabria | Senior Vice President | None |
| LAO | Thomas E. Callahan | Senior Vice President | None |
| LAO | Kelly V. Campbell | Senior Vice President | None |
| LAO | Patrick C. Campbell III | Regional Vice President | None |
| LAO | Anthon S. Cannon III | Vice President | None |
| SNO | Antonio G. Capobianco | Regional Vice President | None |
| LAO | Kevin J. Carevic | Vice President | None |
| LAO | Jason S. Carlough | Senior Vice President | None |
| LAO | Kim R. Carney | Senior Vice President | None |
| LAO | Damian F. Carroll | Senior Vice President | None |
| LAO | David C. Carson, Jr. | Vice President | None |
| LAO | James D. Carter | Senior Vice President | None |
| LAO | Stephen L. Caruthers | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| SFO | James G. Carville | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Philip L. Casciano | Vice President | None |
| LAO | Christopher M. Cefalo | Senior Vice President | None |
| IND |
Alexzania N. Chambers |
Assistant Vice President | None |
| LAO | Kent W. Chan | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| SNO | Marcus L. Chaves | Assistant Vice President | None |
| LAO | Si J. Chen | Vice President | None |
| LAO | Daniel A. Chodosch | Senior Vice President | None |
| LAO | Wellington Choi | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Peter J. Chong | Assistant Vice President | None |
| LAO | Cheryl L. Christian | Assistant Vice President | None |
| LAO | Andrew T. Christos | Vice President | None |
| LAO | Robert S. Chu | Assistant Vice President | None |
| LAO | Paul A. Cieslik | Senior Vice President | None |
| LAO | Andrew R. Claeson | Vice President | None |
| LAO | Michael J. Clark | Regional Vice President | None |
| LAO | Jamie A. Claypool | Senior Vice President | None |
| LAO | Kyle R. Coffey | Regional Vice President | None |
| LAO | Natalie S. Cole | Vice President | None |
| NYO | Jayme E. Colosimo | Vice President | None |
| IND | Timothy J. Colvin | Regional Vice President | None |
| LAO | Frances Coombes | Senior Vice President | None |
| IRV | Erin K. Concepcion | Assistant Vice President | None |
| SNO | Brandon J. Cone | Vice President | None |
| LAO | Christopher M. Conwell | Vice President | None |
| LAO | C. Jeffrey Cook | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Megan Costa | Senior Vice President | None |
| LAO | Joseph G. Cronin | Senior Vice President | None |
| LAO | D. Erick Crowdus | Senior Vice President | None |
| SNO | Zachary A. Cutkomp | Regional Vice President | None |
| LAO | Hanh M. Dao | Senior Vice President | None |
| LAO | Alex L. DaPron | Regional Vice President | None |
| LAO | William F. Daugherty | Senior Vice President | None |
| LAO | Alexandria B. Davis | Regional Vice President | None |
| SNO | Bradley C. Davis | Assistant Vice President | None |
| LAO | Scott T. Davis | Senior Vice President | None |
| LAO | Shehan N. De Silva | Assistant Vice President | None |
| LAO | Adam DeAngelis | Regional Vice President | None |
| LAO | Peter J. Deavan | Senior Vice President | None |
| LAO | Kristofer J. DeBonville | Regional Vice President | None |
| LAO | Guy E. Decker | Senior Vice President | None |
| LAO | Mark A. Dence | Senior Vice President | None |
| SNO | Brian M. Derrico | Vice President | None |
| LAO | Stephen Deschenes | Senior Vice President | None |
| LAO | Maddi L. Dessner | Director and Senior Vice President | None |
| LAO | James G. DiGiuseppe | Senior Vice President | None |
| LAO | Alexander J. Diorio | Vice President | None |
| LAO | Mario P. DiVito | Senior Vice President | None |
| LAO | Kevin F. Dolan | Senior Vice President | None |
| LAO | John H. Donovan IV | Vice President | None |
| LAO | Ronald Q. Dottin | Senior Vice President | None |
| LAO | Joseph B. Dowd | Assistant Vice President | None |
| LAO | John J. Doyle | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Ryan T. Doyle | Senior Vice President | None |
| LAO | Craig Duglin | Senior Vice President | None |
| LAO | Alan J. Dumas | Vice President | None |
| LAO | John E. Dwyer IV | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Christopher P. Dziubasik | Assistant Vice President | None |
| IND | Karyn B. Dzurisin | Senior Vice President | None |
| LAO | Kevin C. Easley | Senior Vice President | None |
| LAO | Shirley Ecklund | Senior Vice President | None |
| LAO | Damian Eckstein | Senior Vice President | None |
| LAO | Matthew J. Eisenhardt | Senior Vice President | None |
| IRV | Jessica Eng | Assistant Vice President | None |
| LAO | Joseph Epstein | Regional Vice President | None |
| LAO | Riley O. Etheridge, Jr. | Senior Vice President | None |
| LAO | Wayne C. Ewan | Regional Vice President | None |
| LAO | Bryan R. Favilla | Senior Vice President | None |
| LAO | Joseph M. Fazio | Regional Vice President | None |
| LAO | Mark A. Ferraro | Senior Vice President | None |
| LAO | Christopher Fetchet | Regional Vice President | None |
| LAO | Brandon J. Fetta | Vice President | None |
| LAO | John P. Finneran III | Vice President | None |
| LAO | Layne M. Finnerty | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| SNO | Coenraad F. Fletcher | Vice President | None |
| LAO | Kevin H. Folks | Senior Vice President | None |
| IND | Kelly B. Fonderoli | Assistant Vice President | None |
| LAO | William E. Ford | Senior Vice President | None |
| IRV | Robert S. Forshee | Assistant Vice President | None |
| LAO | Mark D. Foster | Regional Vice President | None |
| LAO | Steven M. Fox | Vice President | None |
| LAO | Holly C. Framsted | Senior Vice President | None |
| LAO | Megan France | Regional Vice President | None |
| LAO | Evan F. Francks | Assistant Vice President | None |
| LAO | Rusty A. Frauhiger | Vice President | None |
| LAO | Vincent C. Fu | Assistant Vice President | None |
| LAO | Tyler L. Furek | Vice President | None |
| LAO | Myles Gaines | Regional Vice President | None |
| LAO | Jignesh D. Gandhi | Vice President | None |
| LAO | J. Gregory Garrett | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| SNO | Edward S. Garza | Vice President | None |
| LAO | Brian K. Geiger | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Leslie B. Geller | Senior Vice President | None |
| LAO | Jacob M. Gerber | Senior Vice President | None |
| LAO | Travis Gilberg | Vice President | None |
| LAO | Pamela A. Gillett | Senior Vice President | None |
| LAO | William F. Gilmartin | Senior Vice President | None |
| IND | Brenda L. Goeken | Assistant Vice President | None |
| LAO | Kathleen D. Golden | Vice President | None |
| NYO | Joshua H. Gordon | Vice President, Capital Group Institutional Investment Services Division | None |
| SNO | Craig B. Gray | Assistant Vice President | None |
| LAO | Robert E. Greeley, Jr. | Senior Vice President | None |
| LAO | Jameson R. Greenstone | Senior Vice President | None |
| LAO | Eric M. Grey | Senior Vice President | None |
| LAO | Karen M. Griffin | Vice President | None |
| LAO | E. Renee Grimm | Senior Vice President | None |
| LAO | Scott A. Grouten | Senior Vice President | None |
| SNO | John S. Gryniewicz | Regional Vice President | None |
| LAO | Sam S. Gumma | Vice President | None |
| LAO | Jan S. Gunderson | Senior Vice President | None |
| LAO | Ryan A. Gundrum | Assistant Vice President | None |
| SNO | Lori L. Guy | Vice President | None |
| LAO | Ralph E. Haberli | Senior Vice President; Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Janna C. Hahn | Senior Vice President | None |
| LAO | Philip E. Haning | Senior Vice President | None |
| LAO | Katy L. Hanke | Senior Vice President | None |
| LAO | Brandon S. Hansen | Senior Vice President | None |
| LAO | Julie O. Hansen | Vice President | None |
| SNO | Nicholas Hargreaves | Assistant Vice President | None |
| LAO | John R. Harley | Senior Vice President | None |
| LAO | Calvin L. Harrelson III | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Craig W. Hartigan | Senior Vice President | None |
| LAO | Janis Harrison | Assistant Vice President | None |
| LAO | James Hayes | Regional Vice President | None |
| LAO | Jennifer Hayes | Regional Vice President | None |
| LAO | Alan M. Heaton | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Clifford W. “Webb” Heidinger | Senior Vice President | None |
| LAO | Brock A. Hillman | Senior Vice President | None |
| IND | Kristin S. Himsel | Senior Vice President | None |
| SNO | Emilia A. Holt | Assistant Vice President | None |
| LAO | Dennis L. Hooper | Regional Vice President | None |
| IND | Ryan D. Hoover | Regional Vice President | None |
| LAO | Jessica K. Hooyenga | Vice President | None |
| LAO | Heidi B. Horwitz-Marcus | Senior Vice President | None |
| LAO | Scott W. Hoyer | Regional Vice President | None |
| LAO | David R. Hreha | Senior Vice President | None |
| LAO | Frederic J. Huber | Senior Vice President | None |
| LAO | Michael S. Hukriede | Regional Vice President | None |
| LAO | Jeffrey K. Hunkins | Senior Vice President | None |
| LAO | Angelia G. Hunter | Senior Vice President | None |
| LAO | Christa M. Iacono | Vice President | None |
| LAO | Marc G. Ialeggio | Senior Vice President | None |
| LAO | Maurice E. Jadah | Regional Vice President | None |
| LAO | Asad K. Jamil | Regional Vice President | None |
| LAO | W. Chris Jenkins | Senior Vice President | None |
| LAO | Daniel J. Jess II | Senior Vice President | None |
| IND | Jameel S. Jiwani | Vice President | None |
| CHO | Allison S. Johnston | Assistant vice President | None |
| LAO | Brendan M. Jonland | Senior Vice President | None |
| LAO | Kathryn H. Jordan | Vice President | None |
| LAO | David G. Jordt | Senior Vice President | None |
| LAO | Michael Kamell | Senior Vice President | None |
| LAO | Eric J. Kamin | Regional Vice President | None |
| IND | Teodor P. Karnakov | Assistant Vice President | None |
| LAO | Wassan M. Kasey | Senior Vice President | None |
| IND | Joel A. Kaul | Assistant Vice President | None |
| LAO | John P. Keating | Senior Vice President | None |
| LAO | David B. Keib | Senior Vice President | None |
| LAO | Brian G. Kelly | Senior Vice President | None |
| LAO | Christopher J. Kennedy | Vice President | None |
| LAO | Jason A. Kerr | Senior Vice President | None |
| LAO | Ryan C. Kidwell | Senior Vice President | None |
| LAO | Charles A. King | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| IND | Eric M. Kirkman | Vice President | None |
| LAO | Kelsei Q. Kirland | Vice President | None |
| IND | Morgann B. Klaus | Assistant Vice President | None |
| LAO | Stephen J. Knutson | Assistant Vice President | None |
| LAO | Michael J. Koch | Vice President | None |
| IND | Philip A. Kojich | Assistant Vice President | None |
| LAO | Christina Kramer | Regional Vice President | None |
| LAO | James M. Kreider | Vice President | None |
| LAO | Andrew M. Kruger | Regional Vice President | None |
| LAO | Jacob A. Kuchta | Regional Vice President | None |
| SNO | David D. Kuncho | Vice President | None |
| NYO | Joseph Lai | Senior Vice President | None |
| LAO | Jialing Lang | Assistant Vice President | None |
| LAO | Richard M. Lang | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Mark G. LaRoque | Senior Vice President | None |
| SNO | Theodore J. Larsen | Assistant Vice President | None |
| LAO | Andrew P. Laskowski | Senior Vice President | None |
| LAO | Armand Leaks | Regional Vice President | None |
| LAO | Matthew N. Leeper | Senior Vice President | None |
| LAO | Victor J. LeMay | Regional Vice President | None |
| SNO | Matthew T. Levene | Assistant Vice President | None |
| LAO | Clay M. Leveritt | Senior Vice President | None |
| LAO | Emily R. Liao | Senior Vice President | None |
| LAO | Lauren C. Liebes | Regional Vice President | None |
| LAO | Chris H. Lin | Assistant Vice President | None |
| IND | Justin L. Linder | Vice President | None |
| LAO | Louis K. Linquata | Senior Vice President | None |
| LAO | Damien X. Lona | Regional Vice President | None |
| LAO | Omar J. Love | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| SNO | Adam C. Lozano | Assistant Vice President | None |
| IND | Eric S. Luchene | Regional Vice President | None |
| LAO | Dillon W. Lull | Regional Vice President | None |
| LAO | Reid A. Luna | Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Joe P. Lynch | Regional Vice President | None |
| CHO | Karin A. Lystad | Assistant Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Brandon Y. Ma | Regional Vice President | None |
| LAO | Justin Maddox | Regional Vice President | None |
| LAO | Tyler J. Magie | Regional Vice President | None |
| NYO | Catherine M. Magyera | Vice President | None |
| LAO | James M. Maher | Senior Vice President | None |
| LAO | Brendan T. Mahoney | Senior Vice President | None |
| LAO | Nathan G. Mains | Senior Vice President | None |
| LAO | Jeffrey N. Malbasa | Senior Vice President | None |
| LAO | Usma A. Malik | Senior Vice President | None |
| LAO | Chantal M. Manseau Guerdat | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Arran M. Maran | Regional Vice President | None |
| LAO | Seema Manek | Vice President | None |
| LAO | Brooke M. Marrujo | Senior Vice President | None |
| CHO | James M. Mathenge | Vice President, Capital Group Institutional Investment Services Division | None |
| SNO | Duane R. Mattson | Assistant Vice President | None |
| LAO | Stephen B. May | Vice President | None |
| LAO | Barnabas T. Mbigha | Senior Vice President | None |
| LAO | Joseph A. McAdams | Regional Vice President | None |
| LAO | Joseph A. McCreesh, III | Senior Vice President | None |
| LAO | Ross M. McDonald | Senior Vice President | None |
| LAO | Clinton S. McCurry | Regional Vice President | None |
| LAO | Jennifer L. McGrath | Regional Vice President | None |
| LAO | Timothy W. McHale | Secretary | None |
| SNO | Michael J. McLaughlin | Assistant Vice President | None |
| LAO | Max J. McQuiston | Senior Vice President | None |
| LAO | Curtis D. Mc Reynolds | Vice President | None |
| IND | Melissa M. Meade | Assistant Vice President | None |
| LAO | Paulino Medina | Vice President | None |
| LAO | Britney L. Melvin | Vice President | None |
| LAO | Davina J. Merrell | Regional Vice President | None |
| LAO | David A. Merrill | Assistant Vice President | None |
| SNO | Lauren A. Merriweather | Assistant Vice President | None |
| LAO | Conrad F. Metzger | Senior Vice President | None |
| LAO | Carl B. Meyer | Regional Vice President | None |
| LAO | Benjamin J. Miller | Vice President | None |
| LAO | Jennifer M. Miller | Vice President | None |
| LAO | Lauren D. Miller | Assistant Vice President | None |
| LAO | Tammy H. Miller | Vice President | None |
| LAO | William T. Mills | Senior Vice President | None |
| LAO | Sean C. Minor | Senior Vice President | None |
| LAO | Louis W. Minora | Vice President | None |
| LAO | James R. Mitchell III | Senior Vice President | None |
| LAO | Charles L. Mitsakos | Senior Vice President | None |
| IND | Eric E. Momcilovich | Assistant Vice President | None |
| SNO | Christopher Moore | Assistant Vice President | None |
| IND | Jonathan L. Moran | Regional Vice President | None |
| LAO | Rex Morgan | Regional Vice President | None |
| LAO | Nathaniel Morris | Regional Vice President | None |
| LAO | David H. Morrison | Vice President | None |
| LAO | Andrew J. Moscardini | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Stanley Moy | Assistant Vice President | None |
| LAO | Joseph M. Mulcahy | Regional Vice President | None |
| LAOW | Ryan D. Murphy | Senior Vice President | None |
| NYO | Timothy J. Murphy | Senior Vice President | None |
| IND | Valynda J. Murray | Vice President | None |
| LAO | Zahid Nakhooda | Regional Vice President |
None |
| IND | Kristen L. Nelson | Regional Vice President | None |
| LAO | Jon C. Nicolazzo | Senior Vice President | None |
| LAO | Earnest M. Niemi | Senior Vice President | None |
| LAO | Matthew P. O’Connor | Director, Chairman and Chief Executive Officer; Senior Vice President, Capital Group Institutional Investment Services Division | None |
| IND | Jody L. O’Dell | Assistant Vice President | None |
| LAO | Jonathan H. O’Flynn | Senior Vice President | None |
| LAO | Bradley D. Olalde | Assistant Vice President | None |
| LAO | Arthur B. Oliver | Vice President | None |
| LAO | Peter A. Olsen | Senior Vice President | None |
| LAO | Thomas A. O’Neil | Senior Vice President | None |
| LAO | Cimber L. Nuessle | Assistant Vice President | None |
| LAO | Michael Orlando | Vice President | None |
| IRV | Paula A. Orologas | Vice President | None |
| LAO | Vincent A. Ortega | Vice President, Capital Group Institutional Investment Services Division | None |
| NYO | Gregory H. Ortman | Senior Vice President | None |
| LAO | Shawn M. O’Sullivan | Senior Vice President | None |
| IND | Lance T. Owens | Senior Vice President | None |
| LAO | Kristina E. Page | Vice President | None |
| LAO | Jeffrey C. Paguirigan | Senior Vice President | None |
| NYO | Christine M. Papa | Assistant Vice President | None |
| LAO | Rodney Dean Parker II | Senior Vice President | None |
| LAO | Ingrid S. Parl | Vice President | None |
| LAO | William D. Parsley | Regional Vice President | None |
| LAO | Timothy C. Patterson | Vice President | None |
| LAO | W. Burke Patterson, Jr. | Senior Vice President | None |
| SNO | Adam P. Peach | Vice President | None |
| LAO | Robert J. Peche | Senior Vice President | None |
| LAO | Elena M. Peerson | Regional Vice President | None |
| IRV | Grace L. Pelczynski | Assistant Vice President | None |
| LAO | Sejal U. Penkar | Vice President | None |
| LAO | Harry A. Phinney | Senior Vice President | None |
| LAO | Adam W. Phillips | Vice President | None |
| LAO | Joseph M. Piccolo | Senior Vice President | None |
| LAO | Sally L. Picota De Holte | Regional Vice President | None |
| LAO | Keith A. Piken | Senior Vice President and Director | None |
| SFO | Eugene Podkaminer | Senior Vice President | None |
| LAO | David T. Polak | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Chloe E. Pollara | Assistant Vice President | None |
| LAO | Michael E. Pollgreen | Vice President | None |
| LAO | Charles R. Porcher | Senior Vice President | None |
| SNO | Robert B. Potter III | Assistant Vice President | None |
| LAO | Darrell W. Pounders | Vice President | None |
| LAOW | Colyar W. Pridgen | Vice President | None |
| LAO | Michelle L. Pullen | Vice President | None |
| LAO | Victoria M. Quach | Vice President | None |
| LAO | Steven J. Quagrello | Senior Vice President | None |
| IND | Kelly S. Quick | Assistant Vice President | None |
| LAO | Michael R. Quinn | Senior Vice President | None |
| LAO | Mary K. Radloff | Regional Vice President | None |
| LAO | Ryan E. Radtke | Senior Vice President | None |
| LAO | James R. Raker | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Rachel M. Ramos | Vice President | None |
| SNO | Eddie A. Rascon | Regional Vice President | None |
| LAO | Rene M. Reincke | Vice President, Treasurer and Director | None |
| LAO | Lesley P. Reinhart | Vice President | None |
| LAO |
Michael D. Reynaert |
Senior Vice President | None |
| LAO | Adnane Rhazzal | Regional Vice President | None |
| LAO | Christopher J. Richardson | Senior Vice President | None |
| LAO | James Robelotto | Assistant Vice President | None |
| SNO | Stephanie A. Robichaud | Vice President | None |
| LAO | Jeffrey J. Robinson | Senior Vice President | None |
| LAO | Matthew M. Robinson | Senior Vice President | None |
| LAO | Jennifer R. Rocci | Regional Vice President | None |
| LAO | Bethany M. Rodenhuis | Senior Vice President | None |
| LAO | Rochelle C. Rodriguez | Senior Vice President | None |
| LAO | Melissa B. Roe | Senior Vice President | None |
| LAO | Stephen Ross | Regional Vice President | None |
| LAO | Thomas W. Rose | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Rome D. Rottura | Senior Vice President | None |
| IND | Jennah N. Ruddick | Assistant Vice President | None |
| LAO | Leah O. Ryan | Vice President | None |
| LAO | William M. Ryan | Senior Vice President | None |
| IND | Brenda S. Rynski | Regional Vice President | None |
| LAO | Richard A. Sabec, Jr. | Senior Vice President | None |
| SNO | Richard R. Salinas | Vice President | None |
| LAOW | Erica Salvay | Vice President | None |
| LAO | Benjamin F. Samuels | Assistant Vice President | None |
| LAO | Michael C. Santangelo | Regional Vice President | None |
| LAO | Paul V. Santoro | Senior Vice President | None |
| LAO | David E. Saunders II | Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Keith A. Saunders | Senior Vice President | None |
| LAO | Joe D. Scarpitti | Senior Vice President | None |
| IND | Broderic C. Schoen | Assistant Vice President | None |
| LAO | Jackson T. Schuette | Regional Vice President | None |
| LAO | Domenic A. Sciarra | Assistant Vice President | None |
| LAO | Keon F. Scott | Regional Vice President | None |
| LAO | Mark A. Seaman | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | James J. Sewell III | Senior Vice President | None |
| LAO | Arthur M. Sgroi | Senior Vice President | None |
| LAO | Erin C. Sheehan | Regional Vice President | None |
| LAO | Puja V. Sheth | Assistant Vice President | None |
| LAO | Kelly S. Simon | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAOW | Anmol Sinha | Senior Vice President | None |
| SNO | Julia M. Sisente | Assistant Vice President | None |
| LAO | Melissa A. Sloane | Senior Vice President | None |
| LAO | Jason C. Smith | Regional Vice President | None |
| LAO | Joshua J. Smith | Regional Vice President | None |
| LAO | Taylor D. Smith | Regional Vice President | None |
| LAO | Stephanie L. Smolka | Vice President | None |
| LAO | J. Eric Snively | Senior Vice President | None |
| LAO | John A. Sobotowski | Assistant Vice President | None |
| SNO | Chadwick R. Solano | Assistant Vice President | None |
| LAO | Charles V. Sosa | Vice President | None |
| LAO | Alexander T. Sotiriou | Vice President | None |
| LAO | Steven J. Sperry | Assistant Vice President | None |
| LAO | Margaret V. Steinbach | Senior Vice President | None |
| LAO | Michael P. Stern | Senior Vice President | None |
| LAO | Andrew J. Strandquist | Senior Vice President | None |
| LAO | Allison M. Straub | Vice President | None |
| LAO | Valerie B. Stringer | Vice President | None |
| LAO | Jamie J. Suh | Assistant Vice President | None |
| LAO | John R. Sulzicki | Vice President | None |
| LAO | Jack Swigle | Regional Vice President | None |
| LAO | Peter D. Thatch | Senior Vice President | None |
| LAO | John B. Thomas | Senior Vice President | None |
| LAO | Cynthia M. Thompson | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| SNO | Mark D. Thompson | Assistant Vice President | None |
| HRO | Stephen B. Thompson | Regional Vice President | None |
| LAO | Ryan D. Tiernan | Senior Vice President | None |
| LAO | Luke N. Trammell | Senior Vice President | None |
| LAO | Jordan A. Trevino | Senior Vice President | None |
| LAO | Michael J. Triessl | Director | None |
| LAO | Michael Trujillo | Regional Vice President | None |
| CHO | Polina S. Tsybrovska | Assistant Vice President | None |
| LAO | Shaun C. Tucker | Senior Vice President | None |
| IRV | Sean M. Tupy | Vice President | None |
| SNO | Corey W. Tyson | Regional Vice President | None |
| IND | Ryan C. Tyson | Assistant Vice President | None |
| LAO | Jason A. Uberti | Vice President | None |
| LAO | David E. Unanue | Senior Vice President | None |
| LAO | John W. Urbanski | Regional Vice President | None |
| LAO | Veronica Vasquez | Vice President | None |
| LAO-W | Gerrit Veerman III | Senior Vice President, Capital Group Institutional Investment Services | None |
| LAO | Cynthia G. Velazquez | Assistant Vice President | None |
| LAO | Spilios Venetsanopoulos | Senior Vice President | None |
| LAO | J. David Viale | Senior Vice President | None |
| LAO | Austin J. Vierra | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Robert D. Vigneaux III | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Julie A. Vogel | Senior Vice President | None |
| IRV | Thu A. Vu | Assistant Vice President | None |
| LAO | Adam Waclawsky | Vice President | None |
| LAO | Jon N. Wainman | Vice President | None |
| LAO | Hudson Walker | Regional Vice President | None |
| ATO | Jason C. Wallace | Senior Vice President | None |
| LAO | Sherrie S. Walling | Vice President | None |
| LAO | Brian M. Walsh | Senior Vice President | None |
| LAO | Susan O. Walton | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Justin N. Wang | Regional Vice President | None |
| IND | Andrew D. Waters | Regional Vice President | None |
| IND | Kristen M. Weaver | Vice President | None |
| LAO | Timothy S. Wei | Regional Vice President | None |
| LAO | Sheraton Welch | Regional Vice President | None |
| SNO | Gordon S. Wells | Regional Vice President | None |
| LAO | George J. Wenzel | Senior Vice President | None |
| LAO | Jason M. Weybrecht | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Adam B. Whitehead | Senior Vice President | None |
| LAO | Gregory D. Williams II | Assistant Vice President | None |
| LAO | Ashley L. Wilson | Regional Vice President | None |
| LAO | Jonathan D. Wilson | Regional Vice President | None |
| LAO | Steven Wilson | Senior Vice President | None |
| LAO | Steven C. Wilson | Vice President | None |
| LAO | Anthony J. Wingate | Vice President | None |
| LAO | Benjamin Wirtshafter | Senior Vice President | None |
| LAO | Kimberly D. Wood | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| IND | Benjamin T. Wooden | Regional Vice President | None |
| LAO | Jennifer N. Woodward | Assistant Vice President | None |
| IND | Matthew A. Wooten | Assistant Vice President | None |
| SNO | Thomas O. Yager | Assistant Vice President | None |
| LAO | Elizabeth D. Yakes | Assistant Vice President | None |
| NYO | Mila I. Yankova | Senior Vice President | None |
| LAO | Jason P. Young | Senior Vice President | None |
| LAO | Jonathan A. Young | Senior Vice President | None |
| LAO | Lauren E. Zappia | Regional Vice President | None |
| LAO | Raul Zarco, Jr. | Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Connie R. Zeender | Regional Vice President | None |
| LAO | Heidi H. Zhang | Assistant Vice President | None |
| NYO | Tanya Zolotarevskiy | Vice President, Capital Group Institutional Investment Services Division | None |
__________
| HRO | Business Address, 5300 Robin Hood Road, Norfolk, VA 23513 |
| IND | Business Address, 12811 North Meridian Street, Carmel, IN 46032 |
| IRV | Business Address, 6455 Irvine Center Drive, Irvine, CA 92618 |
| LAO | Business Address, 333 South Hope Street, Los Angeles, CA 90071 |
| LAO-W | Business Address, 11100 Santa Monica Blvd., 18th Floor, Los Angeles, CA 90025 |
| NYO | Business Address, 399 Park Avenue, 34th Floor, New York, NY 10022 |
| SFO | Business Address, One Market Street, Suite 1800, San Francisco, CA 94105 |
| SNO | Business Address, 3500 Wiseman Boulevard, San Antonio, TX 78251 |
(c) Not applicable.
| Item 33. | Location of Accounts and Records |
Accounts, books and other records required by Rules 31a-1 and 31a-2 under the Investment Company Act of 1940, as amended, are maintained and kept in the offices of the Registrant’s investment adviser, Capital Research and Management Company, 333 South Hope Street, Los Angeles, California 90071; 6455 Irvine Center Drive, Irvine, California 92618; and/or 5300 Robin Hood Road, Norfolk, Virginia 23513.
Registrant’s records covering shareholder accounts are maintained and kept by its transfer agent, American Funds Service Company, 6455 Irvine Center Drive, Irvine, California 92618; 12811 North Meridian Street, Carmel, Indiana 46032; 3500 Wiseman Boulevard, San Antonio, Texas 78251; and 5300 Robin Hood Road, Norfolk, Virginia 23513.
Registrant’s records covering portfolio transactions are maintained and kept by the fund's custodian, JPMorgan Chase Bank, N.A., 270 Park Avenue, New York, New York 10017-2070.
| Item 34. | Management Services |
None
| Item 35. | Undertakings |
n/a
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets all of the requirements for effectiveness of this Registration Statement under Rule 485(b) under the Securities Act of 1933 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, duly authorized, in the City of Los Angeles, and State of California, on the 26th day of June, 2026.
WASHINGTON MUTUAL INVESTORS FUND
By /s/ Michael W. Stockton
(Michael W. Stockton, Executive Vice President)
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed below on June 26, 2026, by the following persons in the capacities indicated.
| Signature | Title | |
| (1) | Principal Executive Officer: | |
|
/s/ Michael W. Stockton |
Executive Vice President | |
| (Michael W. Stockton) | ||
| (2) | Principal Financial Officer and Principal Accounting Officer: | |
|
/s/ Hong T. Le |
Treasurer | |
| (Hong T. Le) | ||
| (3) | Trustees: | |
| Gina F. Adams* | Trustee | |
| Charles E. Andrews* | Trustee | |
| Joseph J. Bonner* | Trustee | |
| Michael C. Camuñez* | Trustee | |
| Vanessa C. L. Chang* | Trustee | |
| Cecilia V. Estolano* | Trustee | |
| Bradford F. Freer* | Trustee | |
| Yvonne L. Greenstreet* | Trustee | |
| Martin E. Kohler* | Trustee | |
| Sharon I. Meers* | Trustee | |
| Pascal Milliare* | Trustee | |
| William I. Miller | Chair of the Board (Independent and Non-Executive) | |
| Anne-Marie Peterson* | Trustee | |
| Josette Sheeran * | Trustee | |
|
*By: /s/ Michael R. Tom | ||
| (Michael R. Tom, pursuant to a power of attorney filed herewith) | ||
Counsel represents that this amendment does not contain disclosures that would make the amendment ineligible for effectiveness under the provisions of Rule 485(b).
/s/ Joshua R. Diggs
(Joshua R. Diggs, Counsel)
POWER OF ATTORNEY
I, Gina F. Adams, the undersigned Board member of the following registered investment companies (collectively, the “Funds”):
| - | American Balanced Fund (File No. 002-10758, File No. 811-00066) |
| - | American Funds Core Plus Bond Fund (File No. 333-286599, File No. 811-24077) |
| - | American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744) |
| - | American Funds Developing World Growth and Income Fund (File No. 333-190913, File No. 811-22881) |
| - | American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122) |
| - | American Funds Fundamental Investors (File No. 002-10760, File No. 811-00032) |
| - | The American Funds Income Series – U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318) |
| - | American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746) |
| - | American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449) |
| - | American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409) |
| - | American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750) |
| - | American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101) |
| - | American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448) |
| - | The American Funds Tax-Exempt Series II – The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694) |
| - | American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277) |
| - | American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576) |
| - | American High-Income Trust (File No. 033-17917, File No. 811-05364) |
| - | The Bond Fund of America (File No. 002-50700, File No. 811-02444) |
| - | Capital Group Central Fund Series – Capital Group Central Cash Fund (File No. 811-23391) |
| - | Capital Group Central Fund Series II - Capital Group Central Corporate Bond Fund (File No. 811-23633) |
| - | Capital Group Completion Fund Series (File No. 333-278929, File No. 811-23959) |
| - | Capital Group Core Balanced ETF (File No. 333-271211, File No. 811-23867) |
| - | Capital Group Dividend Value ETF (File No. 333-259023, File No. 811-23736) |
| - | Capital Group Fixed Income ETF Trust (File No. 333-259025, File No. 811-23738) |
| - | Capital Group International Core Equity ETF (File No. 333-276930, File No. 811-23935) |
| - | Capital Group International Focus Equity ETF (File No. 333-259022, File No. 811-23734) |
| - | Capital Group New Geography Equity ETF (File No. 333-276931, File No. 811-23936) |
| - | Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349) |
| - | Capital World Bond Fund (File No. 033-12447, File No. 811-05104) |
| - | EUPAC Fund (File No. 002-83847, File No. 811-03734) |
| - | EUPAC Fund |
| - | The Growth Fund of America (File No. 002-14728, File No. 811-00862) |
| - | The Income Fund of America (File No. 002-33371, File No. 811-01880) |
| - | Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446) |
| - | International Growth and Income Fund (File No. 333-152323, File No. 811-22215) |
| - | Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888) |
| - | New Perspective Fund (File No. 002-47749, File No. 811-02333) |
| - | New World Fund, Inc. (File No. 333-67455, File No. 811-09105) |
| - | American Funds New World Fund |
| - | Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928) |
| - | SMALLCAP World Fund, Inc. (File No. 033-32785, File No. 811-05888) |
| - | SMALLCAP World Fund |
| - | The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421) |
| - | Washington Mutual Investors Fund (File No. 002-11051, File No. 811-00604) |
hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint
|
Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le |
Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom
|
each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.
EXECUTED at Washington, DC , on January 1, 2026.
(City, State)
/s/ Gina F. Adams
Gina F. Adams, Board member
POWER OF ATTORNEY
I, Charles E. Andrews, the undersigned Board member of the following registered investment companies (collectively, the “Funds”):
| - | American Balanced Fund (File No. 002-10758, File No. 811-00066) |
| - | American Funds Developing World Growth and Income Fund (File No. 333-190913, File No. 811-22881) |
| - | American Funds Fundamental Investors (File No. 002-10760, File No. 811-00032) |
| - | Capital Group Core Balanced ETF (File No. 333-271211, File No. 811-23867) |
| - | Capital Group Dividend Value ETF (File No. 333-259023, File No. 811-23736) |
| - | Capital Group International Core Equity ETF (File No. 333-276930, File No. 811-23935) |
| - | Capital Group International Focus Equity ETF (File No. 333-259022, File No. 811-23734) |
| - | Capital Group New Geography Equity ETF (File No. 333-276931, File No. 811-23936) |
| - | EUPAC Fund (File No. 002-83847, File No. 811-03734) |
| - | EUPAC Fund |
| - | The Growth Fund of America (File No. 002-14728, File No. 811-00862) |
| - | The Income Fund of America (File No. 002-33371, File No. 811-01880) |
| - | International Growth and Income Fund (File No. 333-152323, File No. 811-22215) |
| - | New Perspective Fund (File No. 002-47749, File No. 811-02333) |
| - | New World Fund, Inc. (File No. 333-67455, File No. 811-09105) |
| - | American Funds New World Fund |
| - | SMALLCAP World Fund, Inc. (File No. 033-32785, File No. 811-05888) |
| - | SMALLCAP World Fund |
| - | Washington Mutual Investors Fund (File No. 002-11051, File No. 811-00604) |
hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint
|
Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le |
Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom
|
each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.
EXECUTED at Vienna, Virginia , on January 1, 2026.
(City, State)
/s/ Charles E. Andrews
Charles E. Andrews, Board member
POWER OF ATTORNEY
I, Joseph J. Bonner, the undersigned Board member of the following registered investment companies (collectively, the “Funds”):
| - | American Balanced Fund (File No. 002-10758, File No. 811-00066) |
| - | American Funds Developing World Growth and Income Fund (File No. 333-190913, File No. 811-22881) |
| - | American Funds Fundamental Investors (File No. 002-10760, File No. 811-00032) |
| - | Capital Group Core Balanced ETF (File No. 333-271211, File No. 811-23867) |
| - | Capital Group Dividend Value ETF (File No. 333-259023, File No. 811-23736) |
| - | Capital Group International Core Equity ETF (File No. 333-276930, File No. 811-23935) |
| - | Capital Group International Focus Equity ETF (File No. 333-259022, File No. 811-23734) |
| - | Capital Group New Geography Equity ETF (File No. 333-276931, File No. 811-23936) |
| - | EUPAC Fund (File No. 002-83847, File No. 811-03734) |
| - | EUPAC Fund |
| - | The Growth Fund of America (File No. 002-14728, File No. 811-00862) |
| - | The Income Fund of America (File No. 002-33371, File No. 811-01880) |
| - | International Growth and Income Fund (File No. 333-152323, File No. 811-22215) |
| - | New Perspective Fund (File No. 002-47749, File No. 811-02333) |
| - | New World Fund, Inc. (File No. 333-67455, File No. 811-09105) |
| - | American Funds New World Fund |
| - | SMALLCAP World Fund, Inc. (File No. 033-32785, File No. 811-05888) |
| - | SMALLCAP World Fund |
| - | Washington Mutual Investors Fund (File No. 002-11051, File No. 811-00604) |
hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint
|
Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le |
Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom
|
each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.
EXECUTED at Carlsbad, CA , on January 1, 2026.
(City, State)
/s/ Joseph J. Bonner
Joseph J. Bonner, Board member
POWER OF ATTORNEY
I, Michael C. Camuñez, the undersigned Board member of the following registered investment companies (collectively, the “Funds”):
| - | American Balanced Fund (File No. 002-10758, File No. 811-00066) |
| - | American Funds Developing World Growth and Income Fund (File No. 333-190913, File No. 811-22881) |
| - | American Funds Fundamental Investors (File No. 002-10760, File No. 811-00032) |
| - | Capital Group Core Balanced ETF (File No. 333-271211, File No. 811-23867) |
| - | Capital Group Dividend Value ETF (File No. 333-259023, File No. 811-23736) |
| - | Capital Group International Core Equity ETF (File No. 333-276930, File No. 811-23935) |
| - | Capital Group International Focus Equity ETF (File No. 333-259022, File No. 811-23734) |
| - | Capital Group New Geography Equity ETF (File No. 333-276931, File No. 811-23936) |
| - | EUPAC Fund (File No. 002-83847, File No. 811-03734) |
| - | EUPAC Fund |
| - | The Growth Fund of America (File No. 002-14728, File No. 811-00862) |
| - | The Income Fund of America (File No. 002-33371, File No. 811-01880) |
| - | International Growth and Income Fund (File No. 333-152323, File No. 811-22215) |
| - | New Perspective Fund (File No. 002-47749, File No. 811-02333) |
| - | New World Fund, Inc. (File No. 333-67455, File No. 811-09105) |
| - | American Funds New World Fund |
| - | SMALLCAP World Fund, Inc. (File No. 033-32785, File No. 811-05888) |
| - | SMALLCAP World Fund |
| - | Washington Mutual Investors Fund (File No. 002-11051, File No. 811-00604) |
hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint
|
Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le |
Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom
|
each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.
EXECUTED at Fresno, CA , on January 1, 2026.
(City, State)
/s/Michael C. Camuñez
Michael C. Camuñez, Board member
POWER OF ATTORNEY
I, Vanessa C. L. Chang, the undersigned Board member of the following registered investment companies (collectively, the “Funds”):
| - | American Balanced Fund (File No. 002-10758, File No. 811-00066) |
| - | American Funds College Target Date Series (File No. 333-180729, File No. 811-22692) |
| - | American Funds Developing World Growth and Income Fund (File No. 333-190913, File No. 811-22881) |
| - | American Funds Fundamental Investors (File No. 002-10760, File No. 811-00032) |
| - | American Funds Insurance Series (File No. 002-86838, File No. 811-03857) |
| - | American Funds Insurance Series |
| - | American Funds Portfolio Series (File No. 333-178936, File No. 811-22656) |
| - | American Funds Retirement Income Portfolio Series (File No. 333-203797, File No. 811-23053) |
| - | American Funds Target Date Retirement Series (File No. 333-138648, File No. 811-21981) |
| - | Capital Group Core Balanced ETF (File No. 333-271211, File No. 811-23867) |
| - | Capital Group Core Equity ETF (File No. 333-259021, File No. 811-23735) |
| - | Capital Group Dividend Value ETF (File No. 333-259023, File No. 811-23736) |
| - | Capital Group Global Growth Equity ETF (File No. 333-259024, File No. 811-23737) |
| - | Capital Group Growth ETF (File No. 333-259020, File No. 811-23733) |
| - | Capital Group International Core Equity ETF (File No. 333-276930, File No. 811-23935) |
| - | Capital Group International Focus Equity ETF (File No. 333-259022, File No. 811-23734) |
| - | Capital Group New Geography Equity ETF (File No. 333-276931, File No. 811-23936) |
| - | EUPAC Fund (File No. 002-83847, File No. 811-03734) |
| - | EUPAC Fund |
| - | The Growth Fund of America (File No. 002-14728, File No. 811-00862) |
| - | The Income Fund of America (File No. 002-33371, File No. 811-01880) |
| - | International Growth and Income Fund (File No. 333-152323, File No. 811-22215) |
| - | New Perspective Fund (File No. 002-47749, File No. 811-02333) |
| - | New World Fund, Inc. (File No. 333-67455, File No. 811-09105) |
| - | American Funds New World Fund |
| - | SMALLCAP World Fund, Inc. (File No. 033-32785, File No. 811-05888) |
| - | SMALLCAP World Fund |
| - | Washington Mutual Investors Fund (File No. 002-11051, File No. 811-00604) |
hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint
|
Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le |
Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom
|
each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.
EXECUTED at Houston, TX , on January 1, 2026.
(City, State)
/s/ Vanessa C. L. Chang
Vanessa C. L. Chang, Board member
POWER OF ATTORNEY
I, Cecilia V. Estolano, the undersigned Board member of the following registered investment companies (collectively, the “Funds”):
| - | American Balanced Fund (File No. 002-10758, File No. 811-00066) |
| - | American Funds Developing World Growth and Income Fund (File No. 333-190913, File No. 811-22881) |
| - | American Funds Fundamental Investors (File No. 002-10760, File No. 811-00032) |
| - | Capital Group Core Balanced ETF (File No. 333-271211, File No. 811-23867) |
| - | Capital Group Dividend Value ETF (File No. 333-259023, File No. 811-23736) |
| - | Capital Group International Core Equity ETF (File No. 333-276930, File No. 811-23935) |
| - | Capital Group International Focus Equity ETF (File No. 333-259022, File No. 811-23734) |
| - | Capital Group New Geography Equity ETF (File No. 333-276931, File No. 811-23936) |
| - | EUPAC Fund (File No. 002-83847, File No. 811-03734) |
| - | EUPAC Fund |
| - | The Growth Fund of America (File No. 002-14728, File No. 811-00862) |
| - | The Income Fund of America (File No. 002-33371, File No. 811-01880) |
| - | International Growth and Income Fund (File No. 333-152323, File No. 811-22215) |
| - | New Perspective Fund (File No. 002-47749, File No. 811-02333) |
| - | New World Fund, Inc. (File No. 333-67455, File No. 811-09105) |
| - | American Funds New World Fund |
| - | SMALLCAP World Fund, Inc. (File No. 033-32785, File No. 811-05888) |
| - | SMALLCAP World Fund |
| - | Washington Mutual Investors Fund (File No. 002-11051, File No. 811-00604) |
hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint
|
Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le |
Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom
|
each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.
EXECUTED at Los Angeles, CA , on January 1, 2026.
(City, State)
/s/ Cecilia V. Estolano
Cecilia V. Estolano, Board member
POWER OF ATTORNEY
I, Bradford F. Freer, the undersigned Board member of the following registered investment companies (collectively, the “Funds”):
| - | American Balanced Fund (File No. 002-10758, File No. 811-00066) |
| - | American Funds Developing World Growth and Income Fund (File No. 333-190913, File No. 811-22881) |
| - | American Funds Fundamental Investors (File No. 002-10760, File No. 811-00032) |
| - | Capital Group Core Balanced ETF (File No. 333-271211, File No. 811-23867) |
| - | Capital Group Dividend Value ETF (File No. 333-259023, File No. 811-23736) |
| - | Capital Group International Core Equity ETF (File No. 333-276930, File No. 811-23935) |
| - | Capital Group International Focus Equity ETF (File No. 333-259022, File No. 811-23734) |
| - | Capital Group New Geography Equity ETF (File No. 333-276931, File No. 811-23936) |
| - | EUPAC Fund (File No. 002-83847, File No. 811-03734) |
| - | EUPAC Fund |
| - | The Growth Fund of America (File No. 002-14728, File No. 811-00862) |
| - | The Income Fund of America (File No. 002-33371, File No. 811-01880) |
| - | International Growth and Income Fund (File No. 333-152323, File No. 811-22215) |
| - | New Perspective Fund (File No. 002-47749, File No. 811-02333) |
| - | New World Fund, Inc. (File No. 333-67455, File No. 811-09105) |
| - | American Funds New World Fund |
| - | SMALLCAP World Fund, Inc. (File No. 033-32785, File No. 811-05888) |
| - | SMALLCAP World Fund |
| - | Washington Mutual Investors Fund (File No. 002-11051, File No. 811-00604) |
hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint
|
Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le |
Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom
|
each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.
EXECUTED at Los Angeles, CA , on January 1, 2026.
(City, State)
/s/ Bradford F. Freer
Bradford F. Freer, Board member
POWER OF ATTORNEY
I, Yvonne L. Greenstreet, the undersigned Board member of the following registered investment companies (collectively, the “Funds”):
| - | American Balanced Fund (File No. 002-10758, File No. 811-00066) |
| - | American Funds Developing World Growth and Income Fund (File No. 333-190913, File No. 811-22881) |
| - | American Funds Fundamental Investors (File No. 002-10760, File No. 811-00032) |
| - | Capital Group Core Balanced ETF (File No. 333-271211, File No. 811-23867) |
| - | Capital Group Dividend Value ETF (File No. 333-259023, File No. 811-23736) |
| - | Capital Group International Core Equity ETF (File No. 333-276930, File No. 811-23935) |
| - | Capital Group International Focus Equity ETF (File No. 333-259022, File No. 811-23734) |
| - | Capital Group New Geography Equity ETF (File No. 333-276931, File No. 811-23936) |
| - | EUPAC Fund (File No. 002-83847, File No. 811-03734) |
| - | EUPAC Fund |
| - | The Growth Fund of America (File No. 002-14728, File No. 811-00862) |
| - | The Income Fund of America (File No. 002-33371, File No. 811-01880) |
| - | International Growth and Income Fund (File No. 333-152323, File No. 811-22215) |
| - | New Perspective Fund (File No. 002-47749, File No. 811-02333) |
| - | New World Fund, Inc. (File No. 333-67455, File No. 811-09105) |
| - | American Funds New World Fund |
| - | SMALLCAP World Fund, Inc. (File No. 033-32785, File No. 811-05888) |
| - | SMALLCAP World Fund |
| - | Washington Mutual Investors Fund (File No. 002-11051, File No. 811-00604) |
hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint
|
Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le |
Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom
|
each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.
EXECUTED at Boston , on January 1, 2026.
(City, State)
/s/ Yvonne L. Greenstreet
Yvonne L. Greenstreet, Board member
POWER OF ATTORNEY
I, Martin E. Koehler, the undersigned Board member of the following registered investment companies (collectively, the “Funds”):
| - | American Balanced Fund (File No. 002-10758, File No. 811-00066) |
| - | American Funds Core Plus Bond Fund (File No. 333-286599, File No. 811-24077) |
| - | American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744) |
| - | American Funds Developing World Growth and Income Fund (File No. 333-190913, File No. 811-22881) |
| - | American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122) |
| - | American Funds Fundamental Investors (File No. 002-10760, File No. 811-00032) |
| - | The American Funds Income Series – U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318) |
| - | American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746) |
| - | American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449) |
| - | American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409) |
| - | American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750) |
| - | American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101) |
| - | American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448) |
| - | The American Funds Tax-Exempt Series II – The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694) |
| - | American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277) |
| - | American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576) |
| - | American High-Income Trust (File No. 033-17917, File No. 811-05364) |
| - | The Bond Fund of America (File No. 002-50700, File No. 811-02444) |
| - | Capital Group Central Fund Series – Capital Group Central Cash Fund (File No. 811-23391) |
| - | Capital Group Central Fund Series II - Capital Group Central Corporate Bond Fund (File No. 811-23633) |
| - | Capital Group Completion Fund Series (File No. 333-278929, File No. 811-23959) |
| - | Capital Group Core Balanced ETF (File No. 333-271211, File No. 811-23867) |
| - | Capital Group Dividend Value ETF (File No. 333-259023, File No. 811-23736) |
| - | Capital Group Fixed Income ETF Trust (File No. 333-259025, File No. 811-23738) |
| - | Capital Group International Core Equity ETF (File No. 333-276930, File No. 811-23935) |
| - | Capital Group International Focus Equity ETF (File No. 333-259022, File No. 811-23734) |
| - | Capital Group New Geography Equity ETF (File No. 333-276931, File No. 811-23936) |
| - | Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349) |
| - | Capital World Bond Fund (File No. 033-12447, File No. 811-05104) |
| - | EUPAC Fund (File No. 002-83847, File No. 811-03734) |
| - | EUPAC Fund |
| - | The Growth Fund of America (File No. 002-14728, File No. 811-00862) |
| - | The Income Fund of America (File No. 002-33371, File No. 811-01880) |
| - | Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446) |
| - | International Growth and Income Fund (File No. 333-152323, File No. 811-22215) |
| - | Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888) |
| - | New Perspective Fund (File No. 002-47749, File No. 811-02333) |
| - | New World Fund, Inc. (File No. 333-67455, File No. 811-09105) |
| - | American Funds New World Fund |
| - | Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928) |
| - | SMALLCAP World Fund, Inc. (File No. 033-32785, File No. 811-05888) |
| - | SMALLCAP World Fund |
| - | The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421) |
| - | Washington Mutual Investors Fund (File No. 002-11051, File No. 811-00604) |
hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint
|
Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le |
Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom
|
each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.
EXECUTED at Berlin, Germany , on January 1, 2026.
(City, State)
/s/ Martin E. Koehler
Martin E. Koehler, Board member
POWER OF ATTORNEY
I, Sharon I. Meers, the undersigned Board member of the following registered investment companies (collectively, the “Funds”):
| - | American Balanced Fund (File No. 002-10758, File No. 811-00066) |
| - | American Funds College Target Date Series (File No. 333-180729, File No. 811-22692) |
| - | American Funds Developing World Growth and Income Fund (File No. 333-190913, File No. 811-22881) |
| - | American Funds Fundamental Investors (File No. 002-10760, File No. 811-00032) |
| - | American Funds Insurance Series (File No. 002-86838, File No. 811-03857) |
| - | American Funds Insurance Series |
| - | American Funds Portfolio Series (File No. 333-178936, File No. 811-22656) |
| - | American Funds Retirement Income Portfolio Series (File No. 333-203797, File No. 811-23053) |
| - | American Funds Target Date Retirement Series (File No. 333-138648, File No. 811-21981) |
| - | Capital Group Core Balanced ETF (File No. 333-271211, File No. 811-23867) |
| - | Capital Group Core Equity ETF (File No. 333-259021, File No. 811-23735) |
| - | Capital Group Dividend Value ETF (File No. 333-259023, File No. 811-23736) |
| - | Capital Group Global Growth Equity ETF (File No. 333-259024, File No. 811-23737) |
| - | Capital Group Growth ETF (File No. 333-259020, File No. 811-23733) |
| - | Capital Group International Core Equity ETF (File No. 333-276930, File No. 811-23935) |
| - | Capital Group International Focus Equity ETF (File No. 333-259022, File No. 811-23734) |
| - | Capital Group New Geography Equity ETF (File No. 333-276931, File No. 811-23936) |
| - | EUPAC Fund (File No. 002-83847, File No. 811-03734) |
| - | EUPAC Fund |
| - | The Growth Fund of America (File No. 002-14728, File No. 811-00862) |
| - | The Income Fund of America (File No. 002-33371, File No. 811-01880) |
| - | International Growth and Income Fund (File No. 333-152323, File No. 811-22215) |
| - | New Perspective Fund (File No. 002-47749, File No. 811-02333) |
| - | New World Fund, Inc. (File No. 333-67455, File No. 811-09105) |
| - | American Funds New World Fund |
| - | SMALLCAP World Fund, Inc. (File No. 033-32785, File No. 811-05888) |
| - | SMALLCAP World Fund |
| - | Washington Mutual Investors Fund (File No. 002-11051, File No. 811-00604) |
hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint
|
Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le |
Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom
|
each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.
EXECUTED at Menlo Park, CA , on January 1, 2026.
(City, State)
/s/ Sharon I. Meers
Sharon I. Meers, Board member
POWER OF ATTORNEY
I, Pascal Millaire, the undersigned Board member of the following registered investment companies (collectively, the “Funds”):
| - | American Balanced Fund (File No. 002-10758, File No. 811-00066) |
| - | American Funds Developing World Growth and Income Fund (File No. 333-190913, File No. 811-22881) |
| - | American Funds Fundamental Investors (File No. 002-10760, File No. 811-00032) |
| - | Capital Group Core Balanced ETF (File No. 333-271211, File No. 811-23867) |
| - | Capital Group Dividend Value ETF (File No. 333-259023, File No. 811-23736) |
| - | Capital Group International Core Equity ETF (File No. 333-276930, File No. 811-23935) |
| - | Capital Group International Focus Equity ETF (File No. 333-259022, File No. 811-23734) |
| - | Capital Group New Geography Equity ETF (File No. 333-276931, File No. 811-23936) |
| - | EUPAC Fund (File No. 002-83847, File No. 811-03734) |
| - | EUPAC Fund |
| - | The Growth Fund of America (File No. 002-14728, File No. 811-00862) |
| - | The Income Fund of America (File No. 002-33371, File No. 811-01880) |
| - | International Growth and Income Fund (File No. 333-152323, File No. 811-22215) |
| - | New Perspective Fund (File No. 002-47749, File No. 811-02333) |
| - | New World Fund, Inc. (File No. 333-67455, File No. 811-09105) |
| - | American Funds New World Fund |
| - | SMALLCAP World Fund, Inc. (File No. 033-32785, File No. 811-05888) |
| - | SMALLCAP World Fund |
| - | Washington Mutual Investors Fund (File No. 002-11051, File No. 811-00604) |
hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint
|
Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le |
Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom
|
each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.
EXECUTED at San Francisco, CA , on January 1, 2026.
(City, State)
/s/ Pascal Millaire
Pascal Millaire, Board member
POWER OF ATTORNEY
I, William I. Miller, the undersigned Board member of the following registered investment companies (collectively, the “Funds”):
| - | American Balanced Fund (File No. 002-10758, File No. 811-00066) |
| - | American Funds Developing World Growth and Income Fund (File No. 333-190913, File No. 811-22881) |
| - | American Funds Fundamental Investors (File No. 002-10760, File No. 811-00032) |
| - | Capital Group Core Balanced ETF (File No. 333-271211, File No. 811-23867) |
| - | Capital Group Dividend Value ETF (File No. 333-259023, File No. 811-23736) |
| - | Capital Group International Core Equity ETF (File No. 333-276930, File No. 811-23935) |
| - | Capital Group International Focus Equity ETF (File No. 333-259022, File No. 811-23734) |
| - | Capital Group New Geography Equity ETF (File No. 333-276931, File No. 811-23936) |
| - | EUPAC Fund (File No. 002-83847, File No. 811-03734) |
| - | EUPAC Fund |
| - | The Growth Fund of America (File No. 002-14728, File No. 811-00862) |
| - | The Income Fund of America (File No. 002-33371, File No. 811-01880) |
| - | International Growth and Income Fund (File No. 333-152323, File No. 811-22215) |
| - | New Perspective Fund (File No. 002-47749, File No. 811-02333) |
| - | New World Fund, Inc. (File No. 333-67455, File No. 811-09105) |
| - | American Funds New World Fund |
| - | SMALLCAP World Fund, Inc. (File No. 033-32785, File No. 811-05888) |
| - | SMALLCAP World Fund |
| - | Washington Mutual Investors Fund (File No. 002-11051, File No. 811-00604) |
hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint
|
Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le |
Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom
|
each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.
EXECUTED at New York, NY , on January 1, 2026.
(City, State)
/s/ William I. Miller
William I. Miller, Board member
POWER OF ATTORNEY
I, Anne-Marie Peterson, the undersigned Board member of the following registered investment companies (collectively, the “Funds”):
| - | American Balanced Fund (File No. 002-10758, File No. 811-00066) |
| - | American Funds Developing World Growth and Income Fund (File No. 333-190913, File No. 811-22881) |
| - | American Funds Fundamental Investors (File No. 002-10760, File No. 811-00032) |
| - | Capital Group Core Balanced ETF (File No. 333-271211, File No. 811-23867) |
| - | Capital Group Dividend Value ETF (File No. 333-259023, File No. 811-23736) |
| - | Capital Group International Core Equity ETF (File No. 333-276930, File No. 811-23935) |
| - | Capital Group International Focus Equity ETF (File No. 333-259022, File No. 811-23734) |
| - | Capital Group New Geography Equity ETF (File No. 333-276931, File No. 811-23936) |
| - | EUPAC Fund (File No. 002-83847, File No. 811-03734) |
| - | EUPAC Fund |
| - | The Growth Fund of America (File No. 002-14728, File No. 811-00862) |
| - | The Income Fund of America (File No. 002-33371, File No. 811-01880) |
| - | International Growth and Income Fund (File No. 333-152323, File No. 811-22215) |
| - | New Perspective Fund (File No. 002-47749, File No. 811-02333) |
| - | New World Fund, Inc. (File No. 333-67455, File No. 811-09105) |
| - | American Funds New World Fund |
| - | SMALLCAP World Fund, Inc. (File No. 033-32785, File No. 811-05888) |
| - | SMALLCAP World Fund |
| - | Washington Mutual Investors Fund (File No. 002-11051, File No. 811-00604) |
hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint
|
Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le |
Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom
|
each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.
EXECUTED at San Francisco , on January 1, 2026.
(City, State)
/s/ Anne-Marie Peterson
Anne-Marie Peterson, Board member
POWER OF ATTORNEY
I, Josette Sheeran, the undersigned Board member of the following registered investment companies (collectively, the “Funds”):
| - | American Balanced Fund (File No. 002-10758, File No. 811-00066) |
| - | American Funds Core Plus Bond Fund (File No. 333-286599, File No. 811-24077) |
| - | American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744) |
| - | American Funds Developing World Growth and Income Fund (File No. 333-190913, File No. 811-22881) |
| - | American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122) |
| - | American Funds Fundamental Investors (File No. 002-10760, File No. 811-00032) |
| - | The American Funds Income Series – U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318) |
| - | American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746) |
| - | American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449) |
| - | American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409) |
| - | American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750) |
| - | American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101) |
| - | American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448) |
| - | The American Funds Tax-Exempt Series II – The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694) |
| - | American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277) |
| - | American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576) |
| - | American High-Income Trust (File No. 033-17917, File No. 811-05364) |
| - | The Bond Fund of America (File No. 002-50700, File No. 811-02444) |
| - | Capital Group Central Fund Series – Capital Group Central Cash Fund (File No. 811-23391) |
| - | Capital Group Central Fund Series II - Capital Group Central Corporate Bond Fund (File No. 811-23633) |
| - | Capital Group Completion Fund Series (File No. 333-278929, File No. 811-23959) |
| - | Capital Group Core Balanced ETF (File No. 333-271211, File No. 811-23867) |
| - | Capital Group Dividend Value ETF (File No. 333-259023, File No. 811-23736) |
| - | Capital Group Fixed Income ETF Trust (File No. 333-259025, File No. 811-23738) |
| - | Capital Group International Core Equity ETF (File No. 333-276930, File No. 811-23935) |
| - | Capital Group International Focus Equity ETF (File No. 333-259022, File No. 811-23734) |
| - | Capital Group New Geography Equity ETF (File No. 333-276931, File No. 811-23936) |
| - | Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349) |
| - | Capital World Bond Fund (File No. 033-12447, File No. 811-05104) |
| - | EUPAC Fund (File No. 002-83847, File No. 811-03734) |
| - | EUPAC Fund |
| - | The Growth Fund of America (File No. 002-14728, File No. 811-00862) |
| - | The Income Fund of America (File No. 002-33371, File No. 811-01880) |
| - | Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446) |
| - | International Growth and Income Fund (File No. 333-152323, File No. 811-22215) |
| - | Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888) |
| - | New Perspective Fund (File No. 002-47749, File No. 811-02333) |
| - | New World Fund, Inc. (File No. 333-67455, File No. 811-09105) |
| - | American Funds New World Fund |
| - | Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928) |
| - | SMALLCAP World Fund, Inc. (File No. 033-32785, File No. 811-05888) |
| - | SMALLCAP World Fund |
| - | The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421) |
| - | Washington Mutual Investors Fund (File No. 002-11051, File No. 811-00604) |
hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint
|
Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le |
Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom
|
each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.
EXECUTED at New York New York , on January 1, 2026.
(City, State)
/s/ Josette Sheeran
Josette Sheeran, Board member