Fund Description

The fund seeks current income and long-term growth of capital and income by investing in a mix of underlying American Funds, which may include growth, growth-and-income, equity-income, balanced and fixed income funds. Through these holdings, it normally maintains at least 45% of net assets in common stocks and other equity investments and at least 25% in bonds and other debt securities, including money market instruments. It has exposure to growth-oriented and dividend-paying stocks and to investments outside the United States, including emerging markets. Fixed income exposure may include a wide range of maturities and significant holdings of lower-rated or unrated debt, including "junk bonds." The investment adviser periodically reviews the investment strategies and asset mix of the underlying funds and may adjust underlying fund holdings by changing allocations or adding or removing underlying funds.