Fund Description

The fund seeks to achieve its objectives by investing in a mix of American Funds in varying combinations and weightings across growth, growth-and-income, equity-income, balanced and fixed income categories. Underlying funds pursue strategies such as long-term growth through U.S. and non-U.S. stocks, growth and income through stocks, income and growth through stocks and/or fixed income, and current income through bonds and other fixed income instruments. It is designed for investors planning to retire near its target date, but shares may be purchased throughout its life, including after that date, while maintaining varying equity and fixed income exposure. The adviser periodically reviews, rebalances or modifies allocations, and the investment adviser anticipates that the fund will invest its assets within a range that deviates no more than 10% above or below the investment approach, with allocations becoming more conservative while seeking dividend income and fixed income exposure for income, preservation and inflation protection.