UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
Quarterly Schedule of Portfolio Holdings of
Registered Management Investment Company
Investment Company Act File Number: 811-00032
American Funds Fundamental Investors
(Exact Name of Registrant as Specified in Charter)
6455 Irvine Center Drive
Irvine, California 92618
(Address of Principal Executive Offices)
Registrant's telephone number, including area code: (213) 486-9200
Date of fiscal year end: December 31
Date of reporting period: March 31, 2015
Michael W. Stockton
American Funds Fundamental Investors
6455 Irvine Center Drive
Irvine, California 92618
(Name and Address of Agent for Service)
Copies to:
Mark D. Perlow
K&L Gates LLP
Four Embarcadero Center, Suite 1200
San Francisco, California 94111
(Counsel for the Registrant)
ITEM 1 – Schedule of Investments
Common stocks 96.20% Consumer discretionary 17.23% |
Shares | Value (000) |
Amazon.com, Inc.1 | 5,646,800 | $2,101,174 |
Comcast Corp., Class A | 34,475,000 | 1,946,803 |
Home Depot, Inc. | 13,710,000 | 1,557,593 |
Walt Disney Co. | 9,040,000 | 948,206 |
Twenty-First Century Fox, Inc., Class A | 26,125,000 | 884,070 |
Time Warner Inc. | 9,230,000 | 779,381 |
Expedia, Inc. | 5,006,000 | 471,215 |
Target Corp. | 5,720,000 | 469,441 |
CBS Corp., Class B | 5,960,000 | 361,355 |
Macy’s, Inc. | 5,500,000 | 357,005 |
Wynn Resorts, Ltd. | 2,352,900 | 296,183 |
Johnson Controls, Inc. | 5,000,000 | 252,200 |
Lowe’s Companies, Inc. | 3,380,000 | 251,438 |
NIKE, Inc., Class B | 2,480,000 | 248,818 |
Naspers Ltd., Class N2 | 1,500,000 | 230,309 |
Carnival Corp., units | 4,000,000 | 191,360 |
Altice SA1,2 | 1,617,000 | 174,622 |
Ralph Lauren Corp., Class A | 1,270,000 | 167,005 |
Liberty Global PLC, Class C1 | 2,353,511 | 117,228 |
Liberty Global PLC, Class A1 | 863,679 | 44,454 |
JD.com, Inc., Class A (ADR)1 | 5,300,000 | 155,714 |
Priceline Group Inc.1 | 120,000 | 139,698 |
Charter Communications, Inc., Class A1 | 500,000 | 96,555 |
Starbucks Corp. | 1,000,000 | 94,700 |
Las Vegas Sands Corp. | 1,500,000 | 82,560 |
Toyota Motor Corp.2 | 930,000 | 64,906 |
12,483,993 | ||
Information technology 15.86% | ||
Microsoft Corp. | 60,210,000 | 2,447,838 |
Avago Technologies Ltd. | 9,769,682 | 1,240,554 |
Google Inc., Class C1 | 1,062,800 | 582,414 |
Google Inc., Class A1 | 637,800 | 353,788 |
Apple Inc. | 6,050,000 | 752,801 |
Texas Instruments Inc. | 12,570,300 | 718,833 |
ASML Holding NV2 | 4,555,030 | 464,130 |
ASML Holding NV (New York registered) | 2,481,000 | 250,655 |
Visa Inc., Class A | 9,280,000 | 607,005 |
Cisco Systems, Inc. | 21,730,000 | 598,118 |
Taiwan Semiconductor Manufacturing Co., Ltd.2 | 95,965,000 | 445,212 |
Taiwan Semiconductor Manufacturing Co., Ltd. (ADR) | 2,404,800 | 56,465 |
Analog Devices, Inc. | 7,099,000 | 447,237 |
Amphenol Corp., Class A | 6,750,000 | 397,778 |
Intel Corp. | 12,000,000 | 375,240 |
salesforce.com, inc.1 | 5,219,200 | 348,695 |
Intuit Inc. | 2,762,382 | 267,841 |
MasterCard Inc., Class A | 2,500,000 | 215,975 |
Common stocks Information technology (continued) |
Shares | Value (000) |
Maxim Integrated Products, Inc. | 6,000,000 | $208,860 |
Murata Manufacturing Co., Ltd.2 | 1,455,000 | 200,455 |
Baidu, Inc., Class A (ADR)1 | 725,000 | 151,090 |
TE Connectivity Ltd. | 1,955,000 | 140,017 |
ASM Pacific Technology Ltd.2 | 10,397,300 | 108,115 |
Rackspace Hosting, Inc.1 | 1,300,000 | 67,067 |
KLA-Tencor Corp. | 825,140 | 48,097 |
11,494,280 | ||
Financials 15.85% | ||
Wells Fargo & Co. | 26,095,916 | 1,419,618 |
JPMorgan Chase & Co. | 18,000,000 | 1,090,440 |
Berkshire Hathaway Inc., Class A1 | 4,555 | 990,712 |
American Express Co. | 11,020,000 | 860,882 |
Capital One Financial Corp. | 10,162,000 | 800,969 |
CME Group Inc., Class A | 8,007,600 | 758,400 |
SunTrust Banks, Inc. | 12,903,987 | 530,225 |
Legal & General Group PLC2 | 119,784,921 | 494,444 |
ACE Ltd. | 4,350,000 | 484,981 |
Goldman Sachs Group, Inc. | 2,438,200 | 458,308 |
American International Group, Inc. | 7,641,700 | 418,689 |
Citigroup Inc. | 8,000,000 | 412,160 |
PNC Financial Services Group, Inc. | 3,491,000 | 325,501 |
Weyerhaeuser Co.1 | 9,000,107 | 298,354 |
Iron Mountain Inc. | 6,961,529 | 253,957 |
KeyCorp | 16,060,000 | 227,410 |
BlackRock, Inc. | 600,000 | 219,504 |
Crown Castle International Corp. | 2,497,039 | 206,106 |
CNO Financial Group, Inc.3 | 11,900,000 | 204,918 |
American Tower Corp. | 2,000,000 | 188,300 |
Aegon NV2 | 22,277,585 | 175,995 |
Svenska Handelsbanken AB, Class A2 | 3,820,000 | 172,411 |
McGraw Hill Financial, Inc. | 1,400,000 | 144,760 |
Moody’s Corp. | 1,175,000 | 121,965 |
Deutsche Bank AG2 | 3,469,000 | 120,693 |
Leucadia National Corp. | 4,589,846 | 102,308 |
Equity Residential | 69,753 | 5,431 |
11,487,441 | ||
Industrials 13.43% | ||
Boeing Co. | 11,400,000 | 1,710,912 |
General Electric Co. | 44,250,000 | 1,097,842 |
Union Pacific Corp. | 10,040,000 | 1,087,432 |
Lockheed Martin Corp. | 3,113,200 | 631,855 |
Parker-Hannifin Corp. | 4,717,400 | 560,333 |
United Continental Holdings, Inc.1 | 6,100,000 | 410,225 |
Rockwell Automation | 3,500,000 | 405,965 |
Cummins Inc. | 2,910,000 | 403,442 |
Caterpillar Inc. | 4,275,000 | 342,128 |
Deere & Co. | 3,800,000 | 333,222 |
Masco Corp. | 12,350,000 | 329,745 |
Airbus Group NV, non-registered shares2 | 4,339,253 | 281,967 |
TransDigm Group Inc. | 1,260,000 | 275,587 |
United Technologies Corp. | 2,300,000 | 269,560 |
Honeywell International Inc. | 2,400,000 | 250,344 |
Common stocks Industrials (continued) |
Shares | Value (000) |
Schneider Electric SE2 | 2,807,000 | $218,339 |
Waste Management, Inc. | 3,400,000 | 184,382 |
Grafton Group PLC, units2,3 | 15,037,000 | 180,696 |
MTU Aero Engines AG2 | 1,835,346 | 180,220 |
Fastenal Co. | 3,100,000 | 128,449 |
Ryanair Holdings PLC (ADR) | 1,850,000 | 123,525 |
Northrop Grumman Corp. | 740,000 | 119,110 |
Meggitt PLC2 | 14,055,334 | 114,193 |
Canadian Pacific Railway Ltd. | 500,000 | 91,548 |
9,731,021 | ||
Health care 10.71% | ||
Merck & Co., Inc. | 21,985,000 | 1,263,698 |
Express Scripts Holding Co.1 | 10,495,000 | 910,651 |
Vertex Pharmaceuticals Inc.1 | 5,500,000 | 648,835 |
Pfizer Inc. | 18,600,000 | 647,094 |
Bristol-Myers Squibb Co. | 9,000,000 | 580,500 |
UnitedHealth Group Inc. | 3,412,000 | 403,605 |
Thermo Fisher Scientific Inc. | 2,900,000 | 389,586 |
Boston Scientific Corp.1 | 20,000,000 | 355,000 |
Regeneron Pharmaceuticals, Inc.1 | 778,000 | 351,251 |
Gilead Sciences, Inc.1 | 3,418,790 | 335,486 |
Hologic, Inc.1 | 10,005,000 | 330,415 |
Johnson & Johnson | 3,100,000 | 311,860 |
Roche Holding AG2 | 1,125,000 | 310,211 |
Novartis AG2 | 2,890,000 | 285,790 |
Baxter International Inc. | 3,751,755 | 256,995 |
Abbott Laboratories | 3,816,771 | 176,831 |
PerkinElmer, Inc. | 2,035,000 | 104,070 |
Humana Inc. | 557,900 | 99,317 |
7,761,195 | ||
Consumer staples 8.06% | ||
Philip Morris International Inc. | 25,535,000 | 1,923,552 |
Coca-Cola Co. | 22,735,000 | 921,904 |
Procter & Gamble Co. | 6,510,000 | 533,429 |
Walgreens Boots Alliance, Inc. | 5,375,000 | 455,155 |
Campbell Soup Co. | 6,000,000 | 279,300 |
British American Tobacco PLC2 | 5,345,000 | 276,150 |
Costco Wholesale Corp. | 1,700,000 | 257,541 |
PepsiCo, Inc. | 2,528,630 | 241,788 |
Altria Group, Inc. | 4,595,000 | 229,842 |
Diageo PLC2 | 7,000,000 | 193,012 |
CVS Health Corp. | 1,820,000 | 187,842 |
Lorillard, Inc. | 2,300,001 | 150,305 |
Pinnacle Foods Inc. | 2,490,000 | 101,617 |
Reynolds American Inc. | 1,350,000 | 93,029 |
5,844,466 | ||
Energy 7.23% | ||
ConocoPhillips | 9,410,000 | 585,867 |
Noble Energy, Inc. | 8,736,400 | 427,210 |
Suncor Energy Inc. | 12,996,034 | 379,759 |
EOG Resources, Inc. | 3,935,000 | 360,800 |
Royal Dutch Shell PLC, Class B (ADR) | 4,663,834 | 292,422 |
Common stocks Energy (continued) |
Shares | Value (000) |
Baker Hughes Inc. | 4,500,000 | $286,110 |
Concho Resources Inc.1 | 2,420,000 | 280,526 |
Enbridge Inc. | 5,284,485 | 254,722 |
Chevron Corp. | 2,296,037 | 241,038 |
Peyto Exploration & Development Corp.3 | 8,957,500 | 240,177 |
FMC Technologies, Inc.1 | 6,355,957 | 235,234 |
Kinder Morgan, Inc. | 3,990,000 | 167,819 |
Southwestern Energy Co.1 | 7,000,000 | 162,330 |
BP PLC2 | 24,000,000 | 155,064 |
TOTAL SA (ADR) | 1,885,000 | 93,609 |
TOTAL SA2 | 1,000,000 | 49,752 |
Phillips 66 | 1,709,488 | 134,366 |
Occidental Petroleum Corp. | 1,815,800 | 132,553 |
Chesapeake Energy Corp. | 9,010,430 | 127,588 |
Cimarex Energy Co. | 1,100,000 | 126,599 |
Denbury Resources Inc.3 | 15,789,900 | 115,108 |
Murphy Oil Corp. | 2,140,000 | 99,724 |
BG Group PLC2 | 7,950,000 | 97,663 |
Pioneer Natural Resources Co. | 449,469 | 73,493 |
Schlumberger Ltd. | 850,000 | 70,924 |
CONSOL Energy Inc. | 1,600,000 | 44,624 |
California Resources Corp. | 800,000 | 6,088 |
5,241,169 | ||
Materials 3.95% | ||
Potash Corp. of Saskatchewan Inc. | 19,330,000 | 623,393 |
E.I. du Pont de Nemours and Co. | 7,280,000 | 520,302 |
LyondellBasell Industries NV | 4,770,000 | 418,806 |
FMC Corp. | 6,758,000 | 386,896 |
Mosaic Co. | 5,500,000 | 253,330 |
Glencore PLC2 | 43,000,000 | 181,029 |
Monsanto Co. | 1,500,000 | 168,810 |
Praxair, Inc. | 900,000 | 108,666 |
Dow Chemical Co. | 1,858,318 | 89,162 |
MeadWestvaco Corp. | 1,222,100 | 60,946 |
HudBay Minerals Inc. | 6,744,900 | 55,171 |
2,866,511 | ||
Telecommunication services 1.13% | ||
Deutsche Telekom AG2 | 12,800,000 | 234,379 |
SoftBank Corp.2 | 3,740,000 | 217,404 |
Verizon Communications Inc. | 3,472,004 | 168,844 |
Orange SA2 | 6,250,000 | 100,555 |
TDC A/S2 | 13,248,762 | 94,905 |
816,087 | ||
Utilities 0.26% | ||
PG&E Corp. | 2,500,000 | 132,675 |
FirstEnergy Corp. | 1,700,000 | 59,602 |
192,277 | ||
Miscellaneous 2.49% | ||
Other common stocks in initial period of acquisition | 1,802,208 | |
Total common stocks (cost: $46,238,878,000) | 69,720,648 |
Short-term securities 3.59% | Principal amount (000) |
Value (000) |
Abbott Laboratories 0.12% due 6/2/20154 | $ 50,000 | $49,992 |
CAFCO, LLC 0.30% due 9/9/2015 | 10,800 | 10,786 |
Caterpillar Financial Services Corp. 0.11% due 4/21/2015 | 50,000 | 49,997 |
Chevron Corp. 0.11%–0.14% due 4/20/2015–7/10/20154 | 90,100 | 90,071 |
Coca-Cola Co. 0.13%–0.22% due 4/23/2015–7/28/20154 | 154,600 | 154,573 |
ExxonMobil Corp. 0.11% due 4/21/2015 | 30,000 | 29,998 |
Fannie Mae 0.08%–0.20% due 4/1/2015–12/1/2015 | 380,900 | 380,788 |
Federal Farm Credit Banks 0.11%–0.14% due 7/2/2015–8/10/2015 | 86,300 | 86,280 |
Federal Home Loan Bank 0.06%–0.17% due 4/15/2015–11/6/2015 | 955,450 | 955,224 |
Freddie Mac 0.10%–0.21% due 4/21/2015–1/5/2016 | 471,085 | 470,895 |
Jupiter Securitization Co., LLC 0.21%–0.27% due 5/27/2015–8/11/20154 | 75,100 | 75,038 |
Pfizer Inc 0.15% due 7/16/20154 | 31,700 | 31,690 |
Private Export Funding Corp. 0.30% due 9/9/20154 | 30,000 | 29,960 |
Procter & Gamble Co. 0.09% due 4/1/20154 | 50,000 | 50,000 |
Regents of the University of California 0.15% due 4/9/2015 | 7,700 | 7,700 |
U.S. Treasury Bills 0.10%–0.14% due 6/25/2015–7/23/2015 | 129,100 | 129,096 |
Total short-term securities (cost: $2,601,873,000) | 2,602,088 | |
Total investment securities 99.79% (cost: $48,840,751,000) | 72,322,736 | |
Other assets less liabilities 0.21% | 150,145 | |
Net assets 100.00% | $72,472,881 |
Beginning shares |
Additions | Reductions | Ending shares |
Dividend income (000) |
Value of affiliates at 3/31/2015 (000) | |
Peyto Exploration & Development Corp. | 8,107,500 | 850,000 | — | 8,957,500 | $2,017 | $240,177 |
CNO Financial Group, Inc. | 11,900,000 | — | — | 11,900,000 | 714 | 204,918 |
Grafton Group PLC, units2 | 15,037,000 | — | — | 15,037,000 | 1,575 | 180,696 |
Denbury Resources Inc. | 20,500,000 | — | 4,710,100 | 15,789,900 | 1,063 | 115,108 |
FMC Corp.5 | 6,758,000 | — | — | 6,758,000 | 1,115 | — |
$6,484 | $740,899 |
1 | Security did not produce income during the last 12 months. |
2 | Valued under fair value procedures adopted by authority of the board of trustees. The total value of all such securities, including those in “Miscellaneous,“ was $6,026,652,000, which represented 8.32% of the net assets of the fund. This entire amount relates to certain securities trading outside the U.S. whose values were adjusted as a result of significant market movements following the close of local trading. |
3 | Represents an affiliated company as defined under the Investment Company Act of 1940. |
4 | Acquired in a transaction exempt from registration under Section 4(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $481,324,000, which represented .66% of the net assets of the fund. |
5 | Unaffiliated issuer at 3/31/2015. |
Fixed-income class | Examples of standard inputs |
All | Benchmark yields, transactions, bids, offers, quotations from dealers and trading systems, new issues, 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, financial or collateral performance and other reference data (collectively referred to as “standard inputs”) |
Corporate bonds & notes; convertible securities | Standard inputs and underlying equity of the issuer |
Bonds & notes of governments & government agencies | Standard inputs and interest rate volatilities |
Mortgage-backed; asset-backed obligations | Standard inputs and cash flows, prepayment information, default rates, delinquency and loss assumptions, collateral characteristics, credit enhancements and specific deal information |
Investment securities | ||||
Level 1 | Level 2* | Level 3 | Total | |
Assets: | ||||
Common stocks: | ||||
Consumer discretionary | $12,014,156 | $469,837 | $— | $12,483,993 |
Information technology | 10,276,368 | 1,217,912 | — | 11,494,280 |
Financials | 10,523,898 | 963,543 | — | 11,487,441 |
Industrials | 8,755,606 | 975,415 | — | 9,731,021 |
Health care | 7,165,194 | 596,001 | — | 7,761,195 |
Consumer staples | 5,375,304 | 469,162 | — | 5,844,466 |
Energy | 4,938,690 | 302,479 | — | 5,241,169 |
Materials | 2,685,482 | 181,029 | — | 2,866,511 |
Telecommunication services | 168,844 | 647,243 | — | 816,087 |
Utilities | 192,277 | — | — | 192,277 |
Miscellaneous | 1,598,177 | 204,031 | — | 1,802,208 |
Short-term securities | — | 2,602,088 | — | 2,602,088 |
Total | $63,693,996 | $8,628,740 | $— | $72,322,736 |
* | Securities with a value of $6,026,652,000, which represented 8.32% of the net assets of the fund, were classified as Level 2 due to significant market movements following the close of local trading. |
Federal income tax information | (dollars in thousands) |
Gross unrealized appreciation on investment securities | $24,305,464 |
Gross unrealized depreciation on investment securities | (828,502) |
Net unrealized appreciation on investment securities | 23,476,962 |
Cost of investment securities | 48,845,774 |
Key to abbreviation | |
ADR = American Depositary Receipts |
MFGEFPX-010-0515O-S42180 | Fundamental Investors — Page 8 of 8 |
ITEM 2 – Controls and Procedures
The Registrant’s Principal Executive Officer and Principal Financial Officer have concluded, based on their evaluation of the Registrant’s disclosure controls and procedures (as such term is defined in Rule 30a-3 under the Investment Company Act of 1940), that such controls and procedures are adequate and reasonably designed to achieve the purposes described in paragraph (c) of such rule.
There were no changes in our internal control over financial reporting during the quarter ended March 31, 2015, which were identified in connection with management's evaluation required by paragraph (d) of Rule 13a-15 and 15d-15 under the Exchange Act, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting, other than as provided below.
Effective November 10, 2014, the American Funds Fundamental Investors’ investment adviser implemented a new accounting system. In connection with introducing this new system, additional automated and manual controls were implemented and some existing controls were modified. None of these changes were in response to any identified deficiency or weakness in the American Funds Fundamental Investors’ internal control over financial reporting.
ITEM 3 – Exhibits
The certifications required by Rule 30a-2 of the Investment Company Act of 1940 and Section 302 of the Sarbanes-Oxley Act of 2002 are attached as exhibits hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
AMERICAN FUNDS FUNDAMENTAL INVESTORS | |
By /s/ Paul F. Roye | |
Paul F. Roye, Executive Vice President and Principal Executive Officer | |
Date: May 29, 2015 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
By /s/ Paul F. Roye |
Paul F. Roye, Executive Vice President and Principal Executive Officer |
Date: May 29, 2015 |
By /s/ Jeffrey P. Regal |
Jeffrey P. Regal, Treasurer and Principal Financial Officer |
Date: May 29, 2015 |
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American Funds Fundamental Investors 6455 Irvine Center Drive Irvine, California 92618 (949) 975-5000 |
CERTIFICATION
I, Paul F. Roye, certify that:
1. | I have reviewed this report on Form N-Q of American Funds Fundamental Investors; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which this report is filed; |
4. | The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: |
a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; | |
b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; | |
c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and | |
d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and | |
5. | The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's Board of Trustees (or persons performing the equivalent functions): |
a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and | |
b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. |
Date: May 29, 2015
/s/ Paul F. Roye
Paul F. Roye, Executive Vice President and
Principal Executive Officer
American Funds Fundamental Investors
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American Funds Fundamental Investors 6455 Irvine Center Drive Irvine, California 92618 (949) 975-5000 |
CERTIFICATION
I, Jeffrey P. Regal, certify that:
1. | I have reviewed this report on Form N-Q of American Funds Fundamental Investors; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which this report is filed; |
4. | The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: |
a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; | |
b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; | |
c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and | |
d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and | |
5. | The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's Board of Trustees (or persons performing the equivalent functions): |
a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and | |
b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. |
Date: May 29, 2015
/s/ Jeffrey P. Regal |
Jeffrey P. Regal, Treasurer and
Principal Financial Officer
American Funds Fundamental Investors