Prospectus Supplement Supplement dated December 1, 2020

Emerging Markets Fund n Emerging Markets Small Cap Fund n Focused Global Growth Fund n Focused International Growth Fund n Global Small Cap Fund n International Growth Fund n International Opportunities Fund n International Value Fund

(Prospectuses dated April 1, 2020)

Global Real Estate Fund n Real Estate Fund n AC Alternatives Income Fund n Growth Fund n Heritage Fund n Select Fund n Small Cap Growth Fund n Sustainable Equity Fund n Ultra Fund n Emerging Markets Debt Fund n Global Bond Fund n International Bond Fund

(Prospectuses dated March 1, 2020)

California High-Yield Municipal Fund n California Intermediate-Term Tax-Free Bond Fund

(Prospectuses dated January 1, 2020)

One Choice® In Retirement Portfolio n One Choice® 2025 Portfolio n One Choice® 2030 Portfolio n One Choice® 2035 Portfolio n One Choice® 2040 Portfolio n One Choice® 2045 Portfolio n One Choice® 2050 Portfolio n One Choice® 2055 Portfolio n One Choice® 2060 Portfolio n One Choice® 2065 Portfolio n Strategic Allocation: Aggressive Fund n Strategic Allocation: Conservative Fund n Strategic Allocation: Moderate Fund

(Prospectuses dated December 1, 2020)

Disciplined Growth Fund n Equity Growth Fund n Global Gold Fund n Discplined Core Value Fund n Small Company Fund

(Prospectuses dated November 1, 2020)

High-Yield Municipal Fund n Intermediate-Term Tax-Free Bond Fund

(Prospectuses dated October 1, 2020)

Ginnie Mae Fund n Government Bond Fund n Inflation-Adjusted Bond Fund n Short-Term Government Fund n AC Alternatives Market Neutral Value Fund n Equity Income Fund n Large Company Value Fund n Mid Cap Value Fund n Small Cap Value Fund n Value Fund n Core Plus Fund n Diversified Bond Fund n High-Yield Fund n Prime Money Market Fund n Short Duration Fund n Short Duration Inflation Protection Bond Fund n Short Duration Strategic Income Fund n Strategic Income Fund n U.S. Government Money Market Fund

(Prospectuses dated August 1, 2020)

Effective March 1, 2021, C Class shares will automatically convert to A Class shares after being held for eight years.

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CL-SPL-96776 2011