Class A
|
AIVSX
|
Class 529-A
|
CICAX
|
Class R-1
|
RICAX
|
Class B
|
AICBX
|
Class 529-B
|
CICBX
|
Class R-2
|
RICBX
|
Class C
|
AICCX
|
Class 529-C
|
CICCX
|
Class R-3
|
RICCX
|
Class F-1
|
AICFX
|
Class 529-E
|
CICEX
|
Class R-4
|
RICEX
|
Class F-2
|
ICAFX
|
Class 529-F-1
|
CICFX
|
Class R-5
|
RICFX
|
Class R-6
|
RICGX
|
Item
|
Page no.
|
Certain investment limitations and guidelines
|
2
|
Description of certain securities and investment techniques
|
3
|
Fund policies
|
9
|
Management of the fund
|
11
|
Execution of portfolio transactions
|
38
|
Disclosure of portfolio holdings
|
41
|
Price of shares
|
43
|
Taxes and distributions
|
46
|
Purchase and exchange of shares
|
49
|
Sales charges
|
54
|
Sales charge reductions and waivers
|
57
|
Selling shares
|
62
|
Shareholder account services and privileges
|
63
|
General information
|
66
|
Appendix
|
74
|
Investment portfolio
|
|
Financial statements
|
·
|
The fund may only invest in securities included on its eligible list (does not apply to securities issued or guaranteed by the U.S. government).
|
·
|
The fund’s investments in straight debt securities (i.e., not convertible into equity) will generally consist of investment grade securities. The fund may, however, invest up to 5% of its assets in straight debt securities rated Ba1 or below and BB+ or below by Nationally Recognized Statistical Rating Organizations designated by the fund’s investment adviser or unrated but determined by the fund’s investment adviser to be of equivalent quality. If agency ratings differ, securities are put in the highest rating category.
|
·
|
The fund may invest up to 15% of its assets in issuers domiciled outside the United States.
|
|
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.
|
Name, age and
position with fund
(year first elected
as a trustee2)
|
Principal
occupation(s)
during the
past five years
|
Number of
portfolios3
overseen
by
trustee
|
Other directorships4 held
by trustee during the past five years
|
Other relevant experience
|
Louise H. Bryson, 66
Trustee (1999)
|
Chair Emerita of the Board of Trustees, J. Paul Getty Trust; former President, Distribution, Lifetime Entertainment Network; former Executive Vice President and General Manager, Lifetime Movie Network; Chair of the Board of Trustees, J. Paul Getty Trust (through May 2010)
|
7
|
None
|
· Service on advisory and trustee boards for charitable, educational and nonprofit organizations
· M.B.A. and M.A.T.
|
Mary Anne Dolan, 63
Chairman of the Board (Independent and Non-Executive)
(2000)
|
Founder and President, MAD Ink (communications company)
|
10
|
None
|
· Senior management and editorial experience with multiple newspaper publishers and news service organizations
· Service as director of writers conference
|
James G. Ellis, 64
Trustee (2008)
|
Dean and Professor of Marketing, Marshall School of Business, University of Southern California
|
44
|
Quiksilver, Inc.
Former director of
Genius Products (until 2008);
Professional Business
Bank (until 2007)
|
· Service as chief executive officer for multiple companies
· Corporate board experience
· Service on advisory and trustee boards for charitable, municipal and nonprofit organizations
· M.B.A.
|
Name, age and
position with fund
(year first elected
as a trustee2)
|
Principal
occupation(s)
during the
past five years
|
Number of
portfolios3
overseen
by
trustee
|
Other directorships4 held
by trustee during the past five years
|
Other relevant experience
|
Leonard R. Fuller, 64
Trustee (2002)
|
President and CEO, Fuller Consulting (financial management consulting firm)
|
44
|
None
|
· Former partner, public accounting firm
· Financial management consulting
· Service on advisory and trustee boards for municipal, educational and nonprofit organizations
· M.B.A.
|
William D. Jones, 55
Trustee (2010)
|
Real estate developer/owner, President and CEO, CityLink Investment Corporation (acquires, develops and manages real estate ventures in selected urban communities) and City Scene Management Company (provides commercial asset and property management services)
|
7
|
Sempra Energy
Former director of Southwest Water Company (until 2010)
|
· Senior investment and management experience, real estate
· Corporate board experience
· Service as director, Federal Reserve Boards of San Francisco and Los Angeles
· Service on advisory and trustee boards for charitable, educational, municipal and non-profit organizations
· M.B.A.
|
Name, age and
position with fund
(year first elected
as a trustee2)
|
Principal
occupation(s)
during the
past five years
|
Number of
portfolios3
overseen
by
trustee
|
Other directorships4 held
by trustee during the past five years
|
Other relevant experience
|
L. Daniel Jorndt, 69
Trustee (2006)
|
Retired
|
4
|
Former director of
Kellogg Co. (until
2007)
|
· Experience as a chief executive officer, drug store chain
· Corporate board experience
· M.B.A.
|
William H. Kling, 5,6 68
Trustee (2010)
|
President and CEO, American Public Media Group
|
10
|
Former director of
Irwin Financial
(until 2009)
|
· Service as chief executive officer, media and entertainment company
· Media and technology consultant
· Corporate board experience
· Service on advisory and trustee boards for charitable and nonprofit organizations
· M.A., mass communications
|
John C. Mazziotta, M.D., Ph.D., 61
Trustee (2011)
|
Physician; Chair, Department of Neurology, University of California at Los Angeles; Associate Director, Semel Institute, UCLA; Director, Brain Mapping Center, UCLA
|
4
|
None
|
· Service on advisory boards of educational, research and nonprofit organizations
· M.D. and Ph.D., neuroanatomy and computer science
|
Name, age and
position with fund
(year first elected
as a trustee2)
|
Principal
occupation(s)
during the
past five years
|
Number of
portfolios3
overseen
by
trustee
|
Other directorships4 held
by trustee during the past five years
|
Other relevant experience
|
John G. McDonald, 73
Trustee (1976)
|
Stanford Investors Professor, Graduate School of Business, Stanford University
|
13
|
iStar Financial, Inc.; Plum Creek Timber Co.; QuinStreet, Inc.; Scholastic Corporation
Former director of Varian, Inc. (until 2010)
|
· Corporate board experience
· Service on the Board of Governors of the National Association of Securities Dealers (now FINRA)
· Service as vice chairman of NASD/NASDAQ stock market
· M.B.A., Ph.D., finance
|
Bailey Morris-Eck, 66
Trustee (1993)
|
Director and Programming Chair, WYPR Baltimore/Washington (public radio station); Senior Adviser, Financial News (London); Senior Fellow, Institute for International Economics
|
4
|
None
|
· Senior management experience, for multiple research institutes
· Service as senior adviser to the President’s Office of Economic Policy and Summit Coordination
· Service as economics correspondent for multiple newspaper publishers
· Service on advisory and trustee boards for charitable, educational, journalistic, international relations, and nonprofit organizations
|
Name, age and
position with fund
(year first elected
as a trustee2)
|
Principal
occupation(s)
during the
past five years
|
Number of
portfolios3
overseen
by
trustee
|
Other directorships4 held
by trustee during the past five years
|
Other relevant experience
|
Steven B. Sample, Ph.D., 70
Trustee (2010)
|
President Emeritus, University of Southern California; President, University of Southern California (through August 2010)
|
4
|
Intermec, Inc.
Former director
William Wrigley Jr. Co. (until 2008)
|
· Senior academic leadership positions for multiple universities
· Professor, electrical engineering
· Corporate board experience
· Service on advisory and trustee boards for charitable, educational, research and nonprofit organizations
· Ph.D, electrical engineering
|
Name, age and
position with fund
(year first elected
as a trustee/officer2)
|
Principal occupation(s)
during the
past five years
and positions
held with affiliated
entities or the
Principal Underwriter
of the fund
|
Number of
portfolios3
overseen
by trustee
|
Other directorships4
held by trustee
during the
past five years
|
James B. Lovelace, 54
Vice Chairman of the Board (1994)
|
Senior Vice President – Capital Research Global Investors, Capital Research and Management Company; Director, The Capital Group Companies, Inc.*
|
12
|
None
|
Donald D. O’Neal, 50
President and Trustee (1994)
|
Senior Vice President – Capital Research Global Investors, Capital Research and Management Company; Director, The Capital Group Companies, Inc.*
|
18
|
None
|
Name, age and
position with fund
(year first elected
as an officer2)
|
Principal occupation(s) during the past five years
and positions held with affiliated entities
or the Principal Underwriter of the fund
|
Paul G. Haaga, Jr., 62
Executive Vice President
(2007)
|
Chairman of the Board, Capital Research and Management Company; Senior Vice President – Fixed Income, Capital Research and Management Company
|
Joyce E. Gordon, 54
Senior Vice President (1998)
|
Senior Vice President – Capital Research Global Investors, Capital Research and Management Company; Director, The Capital Group Companies, Inc.*
|
Christopher D. Buchbinder, 39
Vice President (2010)
|
Senior Vice President – Capital Research Global Investors, Capital Research Company*; Director, Capital Research Company*
|
Anne M. Llewellyn, 63
Vice President (1984)
|
Senior Vice President – Fund Business Management Group, Capital Research and Management Company
|
Name, age and
position with fund
(year first elected
as an officer2)
|
Principal occupation(s) during the past five years
and positions held with affiliated entities
or the Principal Underwriter of the fund
|
William L. Robbins, 42
Vice President (2010)
|
Senior Vice President – Capital Research Global Investors, Capital Research Company*; Director and Co-President, Capital Research Company*
|
Paul F. Roye, 57
Vice President (2008)
|
Senior Vice President – Fund Business Management Group, Capital Research and Management Company; Director, American Funds Service Company*; former Director, Division of Investment Management, United States Securities and Exchange Commission
|
Jessica Chase Spaly, 34
Vice President (2010)
|
Vice President – Capital Research Global Investors, Capital Research Company*
|
Vincent P. Corti, 54
Secretary (1994)
|
Vice President – Fund Business Management Group, Capital Research and Management Company
|
Brian D. Bullard, 41
Treasurer (2008)
|
Senior Vice President – Fund Business Management Group, Capital Research and Management Company; former Chief Accountant, Division of Investment Management, United States Securities and Exchange Commission
|
Raymond F. Sullivan, Jr., 53
Assistant Secretary (2008)
|
Vice President – Fund Business Management Group, Capital Research and Management Company
|
Ari M. Vinocor, 36
Assistant Treasurer (2010)
|
Vice President – Fund Business Management Group, Capital Research and Management Company
|
|
*Company affiliated with Capital Research and Management Company.
|
|
1The term “independent” trustee refers to a trustee who is not an “interested person” of the fund within the meaning of the 1940 Act.
|
|
2Includes service as a director or officer of the fund’s predecessor, The Investment Company of America, a Delaware corporation. Trustees and officers of the fund serve until their resignation, removal or retirement.
|
|
3Funds managed by Capital Research and Management Company, including the American Funds; American Funds Insurance Series®, which is composed of 16 funds and serves as the underlying investment vehicle for certain variable insurance contracts; American Funds Target Date Retirement Series®, which is composed of 10 funds and is available through tax-deferred retirement plans and IRAs; and EndowmentsSM, which is available to certain nonprofit organizations.
|
|
4This includes all directorships (other than those in the American Funds or other funds managed by Capital Research and Management Company) that are held by each trustee as a director of a public company or a registered investment company. Unless otherwise noted, all directorships are current.
|
|
5Gordon Crawford (Senior Vice President, Capital Research Global Investors, Capital Research and Management Company) has been a trustee of Southern California Public Radio, where Mr. Kling formerly served as a trustee and as Second Vice Chair during 2009.
|
|
6Irwin Financial Corporation filed a petition for liquidation under Chapter 7 of the federal Bankruptcy Code on September 21, 2009. This action followed the issuance of consent orders by relevant federal and state banking authorities and the appointment of the Federal Deposit Insurance Corporation as receiver for Irwin Financial Corporation’s two banking subsidiaries. Mr. Kling is a former director of Irwin Financial Corporation.
|
|
7“Interested persons” of the fund within the meaning of the 1940 Act, on the basis of their affiliation with the fund’s investment adviser, Capital Research and Management Company, or affiliated entities (including the fund’s principal underwriter).
|
|
8All of the officers listed, with the exception of Anne M. Llewellyn and Jessica Chase Spaly, 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.
|
Name
|
Dollar range1
of fund
shares owned
|
Aggregate
dollar range1
of shares
owned in
all funds
in the
American Funds
family overseen
by trustee
|
Dollar
range1,2 of
independent
trustees
deferred compensation3 allocated
to fund
|
Aggregate
dollar
range1,2 of
independent
trustees
deferred
compensation3 allocated to
all funds
within
American Funds
family overseen
by trustee
|
“Independent” trustees
|
||||
Louise H. Bryson
|
Over $100,000
|
Over $100,000
|
Over $100,000
|
Over $100,000
|
Mary Anne Dolan
|
$50,001 – $100,000
|
Over $100,000
|
N/A
|
N/A
|
James G. Ellis
|
$10,001 – $50,000
|
Over $100,000
|
N/A
|
N/A
|
Leonard R. Fuller
|
$10,001 – $50,000
|
Over $100,000
|
Over $100,000
|
Over $100,000
|
William D. Jones
|
$10,001 – $50,0004
|
Over $100,000
|
$10,001 – $50,000
|
Over $100,000
|
L. Daniel Jorndt
|
Over $100,000
|
Over $100,000
|
N/A
|
N/A
|
William H. Kling
|
Over $100,000
|
Over $100,000
|
N/A
|
N/A
|
John C. Mazziotta5
|
$1 – $10,000
|
$1 – $10,000
|
N/A
|
N/A
|
John G. McDonald
|
$50,001 – $100,000
|
Over $100,000
|
N/A
|
Over $100,000
|
Bailey Morris-Eck
|
$50,001 – $100,000
|
Over $100,000
|
N/A
|
Over $100,000
|
Steven B. Sample
|
None
|
Over $100,000
|
N/A
|
N/A
|
Name
|
Dollar range1
of fund
shares owned
|
Aggregate
dollar range1
of shares
owned in
all funds
in the
American Funds
family overseen
by trustee
|
“Interested” trustees
|
||
James B. Lovelace
|
Over $100,000
|
Over $100,000
|
Donald D. O’Neal
|
Over $100,000
|
Over $100,000
|
|
1Ownership 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 401(k) plan.
|
|
2N/A indicates that the listed individual, as of December 31, 2010, was not a trustee of a particular fund, did not allocate deferred compensation to the fund or did not participate in the deferred compensation plan.
|
|
3Eligible trustees may defer their compensation under a nonqualified deferred compensation plan. Deferred amounts accumulate at an earnings rate determined by the total return of one or more American Funds as designated by the trustee.
|
|
4As of January 31, 2011.
|
|
5Dr. Mazziotta was newly elected to the board effective January 1, 2011.
|
Name
|
Aggregate compensation
(including voluntarily
deferred compensation1)
from the fund
|
Total compensation (including
voluntarily deferred
compensation1)
from all funds managed by
Capital Research and
Management
Company or its affiliates2
|
||||||||
Louise H. Bryson3
|
$37,792
|
$243,465
|
||||||||
Mary Anne Dolan
|
46,570
|
363,479
|
||||||||
James G. Ellis
|
34,522
|
250,471
|
||||||||
Leonard R. Fuller3
|
46,622
|
320,751
|
||||||||
William D. Jones
|
36,792
|
221,222
|
||||||||
L. Daniel Jorndt3
|
44,834
|
144,000
|
||||||||
William H. Kling
|
34,403
|
327,111
|
||||||||
John C. Mazziotta4
|
10,000
|
10,000
|
||||||||
John G. McDonald3
|
31,253
|
365,875
|
||||||||
Bailey Morris-Eck
|
73,336
|
210,000
|
||||||||
Steven B. Sample
|
44,834
|
126,500
|
|
1Amounts may be deferred by eligible trustees under a nonqualified deferred compensation plan adopted by the fund in 1993. 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 December 31, 2010 does not include earnings on amounts deferred in previous fiscal years. See footnote 3 to this table for more information.
|
|
2Funds managed by Capital Research and Management Company, including the American Funds; American Funds Insurance Series®, which is composed of 16 funds and serves as the underlying investment vehicle for certain variable insurance contracts; American Funds Target Date Retirement Series®, which is composed of 10 funds and is available through tax-deferred retirement plans and IRAs; and EndowmentsSM, which is available to certain nonprofit organizations.
|
|
3Since the deferred compensation plan’s adoption, the total amount of deferred compensation accrued by the fund (plus earnings thereon) through the 2010 fiscal year for participating trustees is as follows: Louise H. Bryson ($989,502), Leonard R. Fuller ($57,239), William D. Jones ($12,416), L. Daniel Jorndt ($477,542) and John G. McDonald ($2,206,045). Amounts deferred and accumulated earnings thereon are not funded and are general unsecured liabilities of the fund until paid to the trustees.
|
|
4Dr. Mazziotta was newly elected to the board effective January 1, 2011. He served on the fund’s advisory board through December 31, 2010.
|
Name and address
|
Ownership
|
Ownership percentage
|
|
Edward D. Jones & Co.
Omnibus Account
Maryland Heights, MO
|
Record
|
Class A
Class B
Class F-1
|
21.06%
12.96
30.62
|
First Clearing, LLC
Custody Account
St. Louis, MO
|
Record
|
Class A
Class B
Class C
Class F-1
|
7.98
7.85
12.04
10.34
|
Pershing, LLC
Jersey City, NJ
|
Record
|
Class B
Class C
Class F-1
Class F-2
|
6.84
5.77
9.12
7.22
|
Merrill Lynch
Omnibus Account
Jacksonville, FL
|
Record
|
Class C
Class F-2
|
13.48
15.05
|
Citigroup Global Markets, Inc.
Omnibus Account
New York, NY
|
Record
|
Class C
Class F-1
|
10.62
5.18
|
UBS WM USA
Omnibus Account
Jersey City, NJ
|
Record
|
Class F-1
|
6.98
|
Charles Schwab & Co., Inc.
Custody Account
San Francisco, CA
|
Record
|
Class F-1
Class F-2
Class R-5
|
5.01
6.50
8.27
|
Capital Group Private Client Services Account
Quincy, MA
|
Record
|
Class F-2
|
15.25
|
NFS, LLC FEBO
US Bank National Association
Milwaukee, WI
|
Record
Beneficial
|
Class F-2
|
6.18
|
Hartford Life Insurance Co. Separate Account
401K Plan
Hartford, CT
|
Record
Beneficial
|
Class R-1
Class R-3
|
46.40
11.46
|
Lincoln Life Insurance Company
Omnibus Account
Fort Wayne, IN
|
Record
|
Class R-4
|
22.47
|
John Hancock Life Insurance Co. USA
Omnibus Account
Boston, MA
|
Record
|
Class R-5
|
23.49
|
NFS, LLC FEBO
401K Plans
Covington, KY
|
Record
Beneficial
|
Class R-5
|
8.26
|
Edward D. Jones & Co.
Retirement Plan
Norwood, MA
|
Record
Beneficial
|
Class R-5
|
7.38
|
Hanford Operations & Engineering
Retirement Plan
Valley Forge, PA
|
Record
Beneficial
|
Class R-5
|
6.92
|
Name and address
|
Ownership
|
Ownership percentage
|
|
Mac & Co.
Retirement Plan
Pittsburgh, PA
|
Record
Beneficial
|
Class R-5
|
6.81
|
The Capital Group Companies
Retirement Plan
Los Angeles, CA
|
Record
Beneficial
|
Class R-5
|
5.17
|
Lockheed Martin Corporation
Retirement Plan
Quincy, MA
|
Record
Beneficial
|
Class R-6
|
47.97
|
Mercer Trust Company
Abbott Laboratories
Retirement Plan
Norwood, MA
|
Record
Beneficial
|
Class R-6
|
9.56
|
Mac & Co.
FBO Alcoa Retirement Plan
Pittsburgh, PA
|
Record
Beneficial
|
Class R-6
|
7.24
|
Portfolio
counselor
|
Dollar range
of fund
shares
owned1
|
Number
of other
registered
investment
companies (RICs)
for which
portfolio
counselor
is a manager
(assets of RICs
in billions)2
|
Number
of other
pooled
investment
vehicles (PIVs)
for which
portfolio
counselor
is a manager
(assets of PIVs
in billions)3
|
Number
of other
accounts
for which
portfolio
counselor
is a manager
(assets of
other accounts
in billions)4
|
|||
James B. Lovelace
|
$100,001 – $500,000
|
4
|
$218.7
|
None
|
None
|
||
Donald D. O’Neal
|
Over $1,000,000
|
2
|
$274.2
|
1
|
$0.17
|
None
|
|
Joyce E. Gordon
|
Over $1,000,000
|
4
|
$187.6
|
None
|
None
|
||
Christopher D. Buchbinder
|
$100,001 – $500,000
|
1
|
$112.4
|
None
|
None
|
||
William L. Robbins
|
$500,001 – $1,000,000
|
1
|
$18.0
|
None
|
None
|
||
Eric S. Richter
|
$500,001 – $1,000,000
|
2
|
$103.1
|
1
|
$0.17
|
None
|
|
C. Ross Sappenfield
|
$100,001 – $500,000
|
2
|
$134.2
|
1
|
$0.17
|
None
|
|
1Ownership 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. The amounts listed include shares owned through The Capital Group Companies, Inc. retirement plan and 401(k) plan.
|
|
2Indicates fund(s) where the portfolio counselor also has significant responsibilities for the day to day management of the fund(s). Assets noted are the total net assets of the registered investment companies and are not the total assets managed by the individual, which is a substantially lower amount. No fund has an advisory fee that is based on the performance of the fund.
|
|
3Represents funds advised or sub-advised by Capital Research and Management Company or its affiliates and sold outside the United States and/or fixed-income assets in institutional accounts managed by investment adviser subsidiaries of Capital Group International, Inc., an affiliate of Capital Research and Management Company. Assets noted are the total net assets of the funds or accounts and are not the total assets managed by the individual, which is a substantially lower amount. No fund or account has an advisory fee that is based on the performance of the fund or account.
|
|
4Reflects other professionally managed accounts held at companies affiliated with Capital Research and Management Company. Personal brokerage accounts of portfolio counselors and their families are not reflected.
|
Administrative services fee
|
|
Class C
|
$3,687,000
|
Class F-1
|
2,074,000
|
Class F-2
|
783,000
|
Class 529-A
|
1,360,000
|
Class 529-B
|
225,000
|
Class 529-C
|
396,000
|
Class 529-E
|
58,000
|
Class 529-F-1
|
27,000
|
Class R-1
|
116,000
|
Class R-2
|
2,675,000
|
Class R-3
|
1,634,000
|
Class R-4
|
948,000
|
Class R-5
|
879,000
|
Class R-6
|
946,000
|
·
|
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 B and 529-B shares sold prior to April 21, 2009, the Principal Underwriter sold its rights to the 0.75% distribution-related portion of the 12b-1 fees paid by the fund, as well as any contingent deferred sales charges, to a third party. The Principal Underwriter compensated investment dealers for sales of Class B and 529-B shares out of the proceeds of this sale and kept any amounts remaining after this compensation was paid.
|
·
|
For Class C and 529-C shares, the Principal Underwriter receives any contingent deferred sales charges that apply during the first year after purchase.
|
Fiscal year
|
Commissions,
revenue
or fees retained
|
Allowance or
compensation
to dealers
|
||||||
Class A
|
2010
|
$ 8,777,000
|
$40,915,000
|
|||||
2009
|
9,869,000
|
45,725,000
|
||||||
2008
|
14,486,000
|
65,539,000
|
||||||
Class B
|
2010
|
19,000
|
—
|
|||||
2009
|
217,000
|
1,090,000
|
||||||
2008
|
307,000
|
5,246,000
|
||||||
Class C
|
2010
|
358,000
|
1,528,000
|
|||||
2009
|
297,000
|
1,727,000
|
||||||
2008
|
557,000
|
2,590,000
|
||||||
Class 529-A
|
2010
|
781,000
|
3,799,000
|
|||||
2009
|
753,000
|
3,697,000
|
||||||
2008
|
952,000
|
4,547,000
|
||||||
Class 529-B
|
2010
|
2,000
|
—
|
|||||
2009
|
33,000
|
148,000
|
||||||
2008
|
43,000
|
685,000
|
||||||
Class 529-C
|
2010
|
36,000
|
355,000
|
|||||
2009
|
—
|
382,000
|
||||||
2008
|
34,000
|
466,000
|
Share class
|
Service
related
payments1
|
Distribution
related
payments1
|
Total
allowable
under
the Plans2
|
Class C
|
0.25%
|
0.75%
|
1.00%
|
Class 529-C
|
0.25
|
0.75
|
1.00
|
Class F-1
|
0.25
|
—
|
0.50
|
Class 529-F-1
|
0.25
|
—
|
0.50
|
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-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.
|
12b-1 expenses
|
12b-1 unpaid liability
outstanding
|
|||
Class A
|
$108,893,000
|
$9,310,000
|
||
Class B
|
16,174,000
|
1,245,000
|
||
Class C
|
21,455,000
|
1,945,000
|
||
Class F-1
|
3,295,000
|
397,000
|
||
Class 529-A
|
2,608,000
|
239,000
|
||
Class 529-B
|
1,777,000
|
148,000
|
||
Class 529-C
|
3,212,000
|
346,000
|
||
Class 529-E
|
258,000
|
24,000
|
||
Class 529-F-1
|
—
|
—
|
||
Class R-1
|
708,000
|
68,000
|
||
Class R-2
|
4,613,000
|
425,000
|
||
Class R-3
|
3,816,000
|
357,000
|
||
Class R-4
|
1,570,000
|
151,000
|
|
AXA Advisors, LLC
|
|
Cadaret, Grant & Co., Inc.
|
|
Cambridge Investment Research, Inc.
|
|
Cetera Financial Group
|
|
Financial Network Investment Corporation
|
|
Guaranty Brokerage Services, Inc.
|
|
Multi-Financial Securities Corporation
|
|
Primevest Financial Services, Inc.
|
|
Commonwealth Financial Network
|
|
D.A. Davidson & Co.
|
|
Edward Jones
|
|
Genworth Financial Securities Corporation
|
|
H. Beck, Inc.
|
|
Hefren-Tillotson, Inc.
|
|
HTK / Janney Montgomery Group
|
|
Hornor, Townsend & Kent, Inc.
|
|
Janney Montgomery Scott LLC
|
|
ING Financial Partners, Inc.
|
|
Transamerica Financial Advisors, Inc.
|
|
J. J. B. Hilliard, W. L. Lyons, LLC
|
|
J.P. Morgan Chase Banc One
|
|
Chase Investment Services Corp.
|
|
J.P. Morgan Securities Inc.
|
|
Lincoln Financial Advisors Corporation
|
|
Lincoln Financial Securities Corporation
|
|
LPL Group
|
|
Associated Securities Corp.
|
|
LPL Financial Corporation
|
|
Mutual Service Corporation
|
|
Uvest Investment Services
|
|
Waterstone Financial Group, Inc.
|
|
Merrill Lynch Banc of America
|
|
Banc of America Investment Services, Inc.
|
|
Banc of America Securities LLC
|
|
Merrill Lynch, Pierce, Fenner & Smith Incorporated
|
|
Metlife Enterprises
|
|
Metlife Securities Inc.
|
|
Nathan & Lewis Securities, Inc.
|
|
New England Securities
|
|
Tower Square Securities, Inc.
|
|
Walnut Street Securities, Inc.
|
|
MML Investors Services, Inc.
|
|
Morgan Keegan & Company, Inc.
|
|
Morgan Stanley Smith Barney LLC
|
|
National Planning Holdings Inc.
|
|
Invest Financial Corporation
|
|
Investment Centers of America, Inc.
|
|
National Planning Corporation
|
|
SII Investments, Inc.
|
|
NFP Securities, Inc.
|
|
Northwestern Mutual Investment Services, LLC
|
|
Park Avenue Securities LLC
|
|
PFS Investments Inc.
|
|
PNC Bank, National Association
|
|
PNC Investments LLC
|
|
Raymond James Group
|
|
Raymond James & Associates, Inc.
|
|
Raymond James Financial Services Inc.
|
|
RBC Capital Markets Corporation
|
|
Robert W. Baird & Co. Incorporated
|
|
Stifel, Nicolaus & Company, Incorporated
|
|
SunTrust Investment Services, Inc.
|
|
The Advisor Group
|
|
FSC Securities Corporation
|
|
Royal Alliance Associates, Inc.
|
|
SagePoint Financial, Inc.
|
|
Sentra Securities Corporation
|
|
Spelman & Co., Inc.
|
|
U.S. Bancorp Investments, Inc.
|
|
UBS Financial Services Inc.
|
|
Wells Fargo Network
|
|
A. G. Edwards, A Division Of Wells Fargo Advisors, LLC
|
|
Captrust Financial Advisors
|
|
First Clearing LLC
|
|
First Union Securities Financial Network, Inc.
|
|
Southtrust Securities, Inc.
|
|
Wachovia Securities, Inc.
|
|
Wells Fargo Advisors Financial Network, LLC
|
|
Wells Fargo Advisors Investment Services Group
|
|
Wells Fargo Advisors Latin American Channel
|
|
Wells Fargo Advisors Private Client Group
|
|
Wells Fargo Investments, LLC
|
·
|
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.
|
·
|
Retirement accounts that are funded with employer contributions; and
|
·
|
Accounts that are funded with monies set by court decree.
|
·
|
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 Money Market Fund accounts registered in the name of clients of Capital Guardian Trust Company’s Capital Group Private Client Services division.
|
(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 Washington Management Corporation, current or retired employees and partners 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;
|
(2)
|
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,
|
(2)
|
(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 the Principal Underwriter (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;
|
(3)
|
currently registered investment advisers (“RIAs”) and assistants directly employed by such RIAs, retired RIAs 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 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;
|
(4)
|
companies exchanging securities with the fund through a merger, acquisition or exchange offer;
|
(5)
|
insurance company separate accounts;
|
(6)
|
accounts managed by subsidiaries of The Capital Group Companies, Inc.;
|
(7)
|
The Capital Group Companies, Inc., its affiliated companies and Washington Management Corporation;
|
(8)
|
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;
|
(9)
|
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.; and
|
(10)
|
full-time employees of banks that have sales agreements with the Principal Underwriter, who are solely dedicated to directly supporting the sale of mutual funds.
|
·
|
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.
|
·
|
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 American Funds Distributors, 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).
|
·
|
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 American Funds Distributors, Inc.
|
·
|
Required minimum distributions taken from retirement accounts upon the shareholder’s attainment of age 70½ (required minimum distributions that continue to be taken by the beneficiary(ies) after the account owner is deceased also qualify for a waiver).
|
·
|
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.
|
Net asset value and redemption price per share
(Net assets divided by shares outstanding)
|
$28.16
|
|
Maximum offering price per share
(100/94.25 of net asset value per share,
which takes into account the fund’s current maximum
sales charge)
|
$29.88
|
Fund numbers
|
|||||||||||
Fund
|
Class A
|
Class B
|
Class C
|
Class F-1
|
Class F-2
|
||||||
Stock and stock/bond funds
|
|||||||||||
AMCAP Fund®
|
002
|
202
|
302
|
402
|
602
|
||||||
American Balanced Fund®
|
011
|
211
|
311
|
411
|
611
|
||||||
American Funds Global Balanced Fund SM
|
037
|
237
|
337
|
437
|
637
|
||||||
American Mutual Fund®
|
003
|
203
|
303
|
403
|
603
|
||||||
Capital Income Builder®
|
012
|
212
|
312
|
412
|
612
|
||||||
Capital World Growth and Income FundSM
|
033
|
233
|
333
|
433
|
633
|
||||||
EuroPacific Growth Fund®
|
016
|
216
|
316
|
416
|
616
|
||||||
Fundamental InvestorsSM
|
010
|
210
|
310
|
410
|
610
|
||||||
The Growth Fund of America®
|
005
|
205
|
305
|
405
|
605
|
||||||
The Income Fund of America®
|
006
|
206
|
306
|
406
|
606
|
||||||
International Growth and Income FundSM
|
034
|
234
|
334
|
434
|
634
|
||||||
The Investment Company of America®
|
004
|
204
|
304
|
404
|
604
|
||||||
The New Economy Fund®
|
014
|
214
|
314
|
414
|
614
|
||||||
New Perspective Fund®
|
007
|
207
|
307
|
407
|
607
|
||||||
New World Fund®
|
036
|
236
|
336
|
436
|
636
|
||||||
SMALLCAP World Fund®
|
035
|
235
|
335
|
435
|
635
|
||||||
Washington Mutual Investors FundSM
|
001
|
201
|
301
|
401
|
601
|
||||||
Bond funds
|
|||||||||||
American Funds Mortgage FundSM
|
042
|
242
|
342
|
442
|
642
|
||||||
American Funds Short-Term Tax-Exempt Bond FundSM
|
039
|
N/A
|
N/A
|
439
|
639
|
||||||
American Funds Tax-Exempt Fund of New YorkSM
|
041
|
241
|
341
|
441
|
641
|
||||||
American High-Income Municipal Bond Fund®
|
040
|
240
|
340
|
440
|
640
|
||||||
American High-Income TrustSM
|
021
|
221
|
321
|
421
|
621
|
||||||
The Bond Fund of AmericaSM
|
008
|
208
|
308
|
408
|
608
|
||||||
Capital World Bond Fund®
|
031
|
231
|
331
|
431
|
631
|
||||||
Intermediate Bond Fund of AmericaSM
|
023
|
223
|
323
|
423
|
623
|
||||||
Limited Term Tax-Exempt Bond Fund of AmericaSM
|
043
|
243
|
343
|
443
|
643
|
||||||
Short-Term Bond Fund of AmericaSM
|
048
|
248
|
348
|
448
|
648
|
||||||
The Tax-Exempt Bond Fund of America®
|
019
|
219
|
319
|
419
|
619
|
||||||
The Tax-Exempt Fund of California®*
|
020
|
220
|
320
|
420
|
620
|
||||||
The Tax-Exempt Fund of Maryland®*
|
024
|
224
|
324
|
424
|
624
|
||||||
The Tax-Exempt Fund of Virginia®*
|
025
|
225
|
325
|
425
|
625
|
||||||
U.S. Government Securities FundSM
|
022
|
222
|
322
|
422
|
622
|
||||||
Money market fund
|
|||||||||||
American Funds Money Market Fund®
|
059
|
259
|
359
|
459
|
659
|
|
___________
|
|
*Qualified for sale only in certain jurisdictions.
|
Fund numbers
|
|||||||||||
Fund
|
Class
529-A
|
Class
529-B
|
Class
529-C
|
Class
529-E
|
Class
529-F-1
|
||||||
Stock and stock/bond funds
|
|||||||||||
AMCAP Fund
|
1002
|
1202
|
1302
|
1502
|
1402
|
||||||
American Balanced Fund
|
1011
|
1211
|
1311
|
1511
|
1411
|
||||||
American Funds Global Balanced Fund
|
1037
|
1237
|
1337
|
1537
|
1437
|
||||||
American Mutual Fund
|
1003
|
1203
|
1303
|
1503
|
1403
|
||||||
Capital Income Builder
|
1012
|
1212
|
1312
|
1512
|
1412
|
||||||
Capital World Growth and Income Fund
|
1033
|
1233
|
1333
|
1533
|
1433
|
||||||
EuroPacific Growth Fund
|
1016
|
1216
|
1316
|
1516
|
1416
|
||||||
Fundamental Investors
|
1010
|
1210
|
1310
|
1510
|
1410
|
||||||
The Growth Fund of America
|
1005
|
1205
|
1305
|
1505
|
1405
|
||||||
The Income Fund of America
|
1006
|
1206
|
1306
|
1506
|
1406
|
||||||
International Growth and Income Fund
|
1034
|
1234
|
1334
|
1534
|
1434
|
||||||
The Investment Company of America
|
1004
|
1204
|
1304
|
1504
|
1404
|
||||||
The New Economy Fund
|
1014
|
1214
|
1314
|
1514
|
1414
|
||||||
New Perspective Fund
|
1007
|
1207
|
1307
|
1507
|
1407
|
||||||
New World Fund
|
1036
|
1236
|
1336
|
1536
|
1436
|
||||||
SMALLCAP World Fund
|
1035
|
1235
|
1335
|
1535
|
1435
|
||||||
Washington Mutual Investors Fund
|
1001
|
1201
|
1301
|
1501
|
1401
|
||||||
Bond funds
|
|||||||||||
American Funds Mortgage Fund
|
1042
|
1242
|
1342
|
1542
|
1442
|
||||||
American High-Income Trust
|
1021
|
1221
|
1321
|
1521
|
1421
|
||||||
The Bond Fund of America
|
1008
|
1208
|
1308
|
1508
|
1408
|
||||||
Capital World Bond Fund
|
1031
|
1231
|
1331
|
1531
|
1431
|
||||||
Intermediate Bond Fund of America
|
1023
|
1223
|
1323
|
1523
|
1423
|
||||||
Short-Term Bond Fund of America
|
1048
|
1248
|
1348
|
1548
|
1448
|
||||||
U.S. Government Securities Fund
|
1022
|
1222
|
1322
|
1522
|
1422
|
||||||
Money market fund
|
|||||||||||
American Funds Money Market Fund
|
1059
|
1259
|
1359
|
1559
|
1459
|
Fund numbers
|
|||||||||||||
Fund
|
Class
R-1
|
Class
R-2
|
Class
R-3
|
Class
R-4
|
Class
R-5
|
Class
R-6
|
|||||||
Stock and stock/bond funds
|
|||||||||||||
AMCAP Fund
|
2102
|
2202
|
2302
|
2402
|
2502
|
2602
|
|||||||
American Balanced Fund
|
2111
|
2211
|
2311
|
2411
|
2511
|
2611
|
|||||||
American Funds Global Balanced Fund
|
2137
|
2237
|
2337
|
2437
|
2537
|
2637
|
|||||||
American Mutual Fund
|
2103
|
2203
|
2303
|
2403
|
2503
|
2603
|
|||||||
Capital Income Builder
|
2112
|
2212
|
2312
|
2412
|
2512
|
2612
|
|||||||
Capital World Growth and Income Fund
|
2133
|
2233
|
2333
|
2433
|
2533
|
2633
|
|||||||
EuroPacific Growth Fund
|
2116
|
2216
|
2316
|
2416
|
2516
|
2616
|
|||||||
Fundamental Investors
|
2110
|
2210
|
2310
|
2410
|
2510
|
2610
|
|||||||
The Growth Fund of America
|
2105
|
2205
|
2305
|
2405
|
2505
|
2605
|
|||||||
The Income Fund of America
|
2106
|
2206
|
2306
|
2406
|
2506
|
2606
|
|||||||
International Growth and Income Fund
|
2134
|
2234
|
2334
|
2434
|
2534
|
2634
|
|||||||
The Investment Company of America
|
2104
|
2204
|
2304
|
2404
|
2504
|
2604
|
|||||||
The New Economy Fund
|
2114
|
2214
|
2314
|
2414
|
2514
|
2614
|
|||||||
New Perspective Fund
|
2107
|
2207
|
2307
|
2407
|
2507
|
2607
|
|||||||
New World Fund
|
2136
|
2236
|
2336
|
2436
|
2536
|
2636
|
|||||||
SMALLCAP World Fund
|
2135
|
2235
|
2335
|
2435
|
2535
|
2635
|
|||||||
Washington Mutual Investors Fund
|
2101
|
2201
|
2301
|
2401
|
2501
|
2601
|
|||||||
Bond funds
|
|||||||||||||
American Funds Mortgage Fund
|
2142
|
2242
|
2342
|
2442
|
2542
|
2642
|
|||||||
American High-Income Trust
|
2121
|
2221
|
2321
|
2421
|
2521
|
2621
|
|||||||
The Bond Fund of America
|
2108
|
2208
|
2308
|
2408
|
2508
|
2608
|
|||||||
Capital World Bond Fund
|
2131
|
2231
|
2331
|
2431
|
2531
|
2631
|
|||||||
Intermediate Bond Fund of America
|
2123
|
2223
|
2323
|
2423
|
2523
|
2623
|
|||||||
Short-Term Bond Fund of America
|
2148
|
2248
|
2348
|
2448
|
2548
|
2648
|
|||||||
U.S. Government Securities Fund
|
2122
|
2222
|
2322
|
2422
|
2522
|
2622
|
|||||||
Money market fund
|
|||||||||||||
American Funds Money Market Fund
|
2159
|
2259
|
2359
|
2459
|
2559
|
2659
|
Fund numbers
|
||||||||||||||
Fund
|
Class A
|
Class
R-1
|
Class
R-2
|
Class
R-3
|
Class
R-4
|
Class
R-5
|
Class
R-6
|
|||||||
Stock and stock/bond funds
|
||||||||||||||
American Funds 2055 Target Date Retirement FundSM
|
082
|
2182
|
2282
|
2382
|
2482
|
2582
|
2682
|
|||||||
American Funds 2050 Target Date Retirement Fund®
|
069
|
2169
|
2269
|
2369
|
2469
|
2569
|
2669
|
|||||||
American Funds 2045 Target Date Retirement Fund®
|
068
|
2168
|
2268
|
2368
|
2468
|
2568
|
2668
|
|||||||
American Funds 2040 Target Date Retirement Fund®
|
067
|
2167
|
2267
|
2367
|
2467
|
2567
|
2667
|
|||||||
American Funds 2035 Target Date Retirement Fund®
|
066
|
2166
|
2266
|
2366
|
2466
|
2566
|
2666
|
|||||||
American Funds 2030 Target Date Retirement Fund®
|
065
|
2165
|
2265
|
2365
|
2465
|
2565
|
2665
|
|||||||
American Funds 2025 Target Date Retirement Fund®
|
064
|
2164
|
2264
|
2364
|
2464
|
2564
|
2664
|
|||||||
American Funds 2020 Target Date Retirement Fund®
|
063
|
2163
|
2263
|
2363
|
2463
|
2563
|
2663
|
|||||||
American Funds 2015 Target Date Retirement Fund®
|
062
|
2162
|
2262
|
2362
|
2462
|
2562
|
2662
|
|||||||
American Funds 2010 Target Date Retirement Fund®
|
061
|
2161
|
2261
|
2361
|
2461
|
2561
|
2661
|
·
|
For issuers and performing obligations, ‘B’ ratings indicate that significant credit risk is present, but a limited margin of safety remains. Financial commitments are currently being met; however, capacity for continued payment is contingent upon a sustained, favorable business and economic environment.
|
·
|
For individual obligations, may indicate distressed or defaulted obligations with potential for extremely high recoveries. Such obligations would possess a Recovery Rating of 'R1' (outstanding).
|
·
|
For issuers and performing obligations, default is a real possibility. Capacity for meeting financial commitments is solely reliant upon sustained, favorable business or economic conditions.
|
·
|
For individual obligations, may indicate distressed or defaulted obligations with potential for average to superior levels of recovery. Differences in credit quality
|
|
may be denoted by plus/minus distinctions. Such obligations typically would possess a Recovery Rating of ‘R2’ (superior), or ‘R3’ (good) or ‘R4’ (average).
|
·
|
For issuers and performing obligations, default of some kind appears probable.
|
·
|
For individual obligations, may indicate distressed or defaulted obligations with a Recovery Rating of ‘R4’ (average) or ‘R5’ (below average).
|
·
|
For issuers and performing obligations, default is imminent.
|
·
|
For individual obligations, may indicate distressed or defaulted obligations with potential for below-average to poor recoveries. Such obligations would possess a Recovery Rating of 'R6' (poor).
|
Common stocks — 92.59%
|
Shares
|
Value
(000)
|
||||||
ENERGY — 11.30%
|
||||||||
Apache Corp.
|
2,240,000 | $ | 267,075 | |||||
Baker Hughes Inc.
|
10,030,000 | 573,415 | ||||||
BP PLC
|
34,380,000 | 249,544 | ||||||
BP PLC (ADR)
|
2,800,000 | 123,676 | ||||||
Canadian Natural Resources, Ltd.
|
1,296,400 | 57,825 | ||||||
Chevron Corp.
|
6,480,000 | 591,300 | ||||||
ConocoPhillips
|
19,779,140 | 1,346,959 | ||||||
Devon Energy Corp.
|
2,690,000 | 211,192 | ||||||
Diamond Offshore Drilling, Inc.
|
2,025,000 | 135,412 | ||||||
Eni SpA
|
4,640,000 | 101,315 | ||||||
Eni SpA (ADR)
|
770,000 | 33,680 | ||||||
EOG Resources, Inc.
|
3,732,200 | 341,160 | ||||||
Marathon Oil Corp.
|
3,030,000 | 112,201 | ||||||
Royal Dutch Shell PLC, Class A (ADR)
|
16,470,000 | 1,099,867 | ||||||
Royal Dutch Shell PLC, Class B
|
10,843,265 | 357,556 | ||||||
Royal Dutch Shell PLC, Class B (ADR)
|
2,925,498 | 195,043 | ||||||
Schlumberger Ltd.
|
12,724,999 | 1,062,537 | ||||||
TOTAL SA
|
3,000,000 | 158,953 | ||||||
7,018,710 | ||||||||
MATERIALS — 3.26%
|
||||||||
Air Products and Chemicals, Inc.
|
768,800 | 69,922 | ||||||
Akzo Nobel NV
|
425,000 | 26,400 | ||||||
ArcelorMittal
|
7,540,000 | 285,949 | ||||||
Barrick Gold Corp.
|
4,675,000 | 248,617 | ||||||
Dow Chemical Co.
|
25,979,088 | 886,926 | ||||||
MeadWestvaco Corp.
|
4,085,000 | 106,864 | ||||||
POSCO
|
136,000 | 58,359 | ||||||
Praxair, Inc.
|
999,500 | 95,422 | ||||||
United States Steel Corp.
|
4,160,000 | 243,027 | ||||||
2,021,486 | ||||||||
INDUSTRIALS — 10.18%
|
||||||||
3M Co.
|
4,834,265 | 417,197 | ||||||
CSX Corp.
|
11,681,000 | 754,709 | ||||||
Deere & Co.
|
2,800,000 | 232,540 | ||||||
General Dynamics Corp.
|
11,438,300 | 811,662 | ||||||
General Electric Co.
|
13,875,000 | 253,774 | ||||||
Illinois Tool Works Inc.
|
6,400,000 | 341,760 | ||||||
Lockheed Martin Corp.
|
1,913,820 | 133,795 | ||||||
Norfolk Southern Corp.
|
3,414,999 | 214,530 | ||||||
Pitney Bowes Inc.
|
350,551 | 8,476 | ||||||
R.R. Donnelley & Sons Co.
|
6,100,000 | 106,567 | ||||||
Raytheon Co.
|
2,399,800 | 111,207 | ||||||
Siemens AG
|
3,465,000 | 429,227 | ||||||
Southwest Airlines Co.
|
13,000,000 | 168,740 | ||||||
Tyco International Ltd.
|
2,115,000 | 87,645 | ||||||
Union Pacific Corp.
|
11,104,800 | 1,028,971 | ||||||
United Parcel Service, Inc., Class B
|
2,250,000 | 163,305 | ||||||
United Technologies Corp.
|
10,340,000 | 813,965 | ||||||
Waste Management, Inc.
|
6,600,700 | 243,368 | ||||||
6,321,438 | ||||||||
CONSUMER DISCRETIONARY — 10.99%
|
||||||||
Best Buy Co., Inc.
|
4,500,000 | 154,305 | ||||||
Carnival Corp., units
|
7,450,000 | 343,520 | ||||||
CBS Corp., Class B
|
5,750,000 | 109,538 | ||||||
Comcast Corp., Class A
|
22,550,271 | 495,429 | ||||||
Comcast Corp., Class A, special nonvoting shares
|
3,000,000 | 62,430 | ||||||
Daimler AG1
|
960,000 | 65,079 | ||||||
DIRECTV, Class A1
|
6,500,000 | 259,545 | ||||||
H&R Block, Inc.
|
2,315,000 | 27,572 | ||||||
Harley-Davidson, Inc.
|
3,500,000 | 121,345 | ||||||
Home Depot, Inc.
|
24,020,000 | 842,141 | ||||||
Honda Motor Co., Ltd.
|
6,650,000 | 263,330 | ||||||
Johnson Controls, Inc.
|
10,000,000 | 382,000 | ||||||
Kohl’s Corp.1
|
4,200,000 | 228,228 | ||||||
Limited Brands, Inc.
|
5,042,743 | 154,964 | ||||||
Lowe’s Companies, Inc.
|
10,500,000 | 263,340 | ||||||
McDonald’s Corp.
|
7,150,000 | 548,834 | ||||||
News Corp., Class A
|
5,890,000 | 85,758 | ||||||
Nissan Motor Co., Ltd.
|
12,800,000 | 121,867 | ||||||
Staples, Inc.
|
20,625,000 | 469,631 | ||||||
Target Corp.
|
12,797,000 | 769,484 | ||||||
Time Warner Cable Inc.
|
4,812,727 | 317,784 | ||||||
Time Warner Inc.
|
13,399,000 | 431,046 | ||||||
Toyota Motor Corp.
|
6,550,000 | 259,773 | ||||||
Toyota Motor Corp. (ADR)
|
600,000 | 47,178 | ||||||
6,824,121 | ||||||||
CONSUMER STAPLES — 10.57%
|
||||||||
Altria Group, Inc.
|
19,134,200 | 471,084 | ||||||
Avon Products, Inc.
|
14,082,000 | 409,223 | ||||||
Coca-Cola Co.
|
2,303,300 | 151,488 | ||||||
Colgate-Palmolive Co.
|
1,500,000 | 120,555 | ||||||
ConAgra Foods, Inc.
|
5,521,100 | 124,666 | ||||||
CVS/Caremark Corp.
|
13,500,000 | 469,395 | ||||||
General Mills, Inc.
|
3,920,000 | 139,513 | ||||||
H.J. Heinz Co.
|
2,750,000 | 136,015 | ||||||
Kellogg Co.
|
1,000,000 | 51,080 | ||||||
Kimberly-Clark Corp.
|
1,500,000 | 94,560 | ||||||
Kraft Foods Inc., Class A
|
20,874,168 | 657,745 | ||||||
Lorillard, Inc.
|
2,885,600 | 236,792 | ||||||
Molson Coors Brewing Co., Class B
|
5,925,000 | 297,376 | ||||||
PepsiCo, Inc.
|
12,821,500 | 837,629 | ||||||
Philip Morris International Inc.
|
38,151,000 | 2,232,978 | ||||||
Reynolds American Inc.
|
1,333,332 | 43,493 | ||||||
Sara Lee Corp.
|
5,000,000 | 87,550 | ||||||
6,561,142 | ||||||||
HEALTH CARE — 6.67%
|
||||||||
Abbott Laboratories
|
14,335,000 | 686,790 | ||||||
Aetna Inc.
|
1,516,239 | 46,260 | ||||||
Amgen Inc.1
|
1,840,792 | 101,059 | ||||||
Bayer AG
|
950,000 | 70,202 | ||||||
Boston Scientific Corp.1
|
69,340,000 | 524,904 | ||||||
Eli Lilly and Co.
|
6,295,000 | 220,577 | ||||||
Johnson & Johnson
|
3,100,000 | 191,735 | ||||||
Medtronic, Inc.
|
9,112,500 | 337,983 | ||||||
Merck & Co., Inc.
|
46,731,429 | 1,684,201 | ||||||
Novartis AG
|
663,000 | 38,965 | ||||||
Novartis AG (ADR)
|
921,556 | 54,326 | ||||||
Pfizer Inc
|
4,025,000 | 70,478 | ||||||
Roche Holding AG
|
760,000 | 111,358 | ||||||
4,138,838 | ||||||||
FINANCIALS — 7.45%
|
||||||||
American International Group, Inc.1
|
141,955 | 8,179 | ||||||
AXA SA
|
3,250,000 | 54,070 | ||||||
Banco Santander, SA
|
50,733,040 | 537,475 | ||||||
Banco Santander, SA (ADR)
|
5,047,435 | 53,755 | ||||||
Bank of America Corp.
|
64,140,935 | 855,640 | ||||||
Bank of New York Mellon Corp.
|
10,533,812 | 318,121 | ||||||
BB&T Corp.
|
4,825,000 | 126,849 | ||||||
Capital One Financial Corp.
|
7,500,000 | 319,200 | ||||||
Citigroup Inc.1
|
62,500,000 | 295,625 | ||||||
Discover Financial Services
|
7,177,053 | 132,991 | ||||||
Genworth Financial, Inc., Class A1
|
1,221,600 | 16,052 | ||||||
HSBC Holdings PLC (ADR)
|
1,529,416 | 78,061 | ||||||
HSBC Holdings PLC (United Kingdom)
|
4,869,240 | 49,429 | ||||||
JPMorgan Chase & Co.
|
16,290,000 | 691,022 | ||||||
Moody’s Corp.
|
2,675,800 | 71,016 | ||||||
Northern Trust Corp.
|
1,085,000 | 60,120 | ||||||
Société Générale
|
2,514,523 | 135,146 | ||||||
State Street Corp.
|
2,359,100 | 109,321 | ||||||
SunTrust Banks, Inc.
|
6,000,000 | 177,060 | ||||||
Wells Fargo & Co.
|
17,235,000 | 534,113 | ||||||
4,623,245 | ||||||||
INFORMATION TECHNOLOGY — 22.07%
|
||||||||
Accenture PLC, Class A
|
6,400,000 | 310,336 | ||||||
Altera Corp.
|
661,900 | 23,550 | ||||||
Analog Devices, Inc.
|
5,726,900 | 215,732 | ||||||
Apple Inc.1
|
505,000 | 162,893 | ||||||
Applied Materials, Inc.
|
10,525,000 | 147,876 | ||||||
Automatic Data Processing, Inc.
|
4,023,043 | 186,186 | ||||||
Canon, Inc.
|
770,000 | 39,927 | ||||||
Cisco Systems, Inc.1
|
14,420,400 | 291,725 | ||||||
Corning Inc.
|
26,669,820 | 515,261 | ||||||
Flextronics International Ltd.1
|
16,000,000 | 125,600 | ||||||
Google Inc., Class A1
|
1,830,530 | 1,087,280 | ||||||
Hewlett-Packard Co.
|
25,540,000 | 1,075,234 | ||||||
Intel Corp.
|
51,164,700 | 1,075,994 | ||||||
International Business Machines Corp.
|
4,335,000 | 636,205 | ||||||
KLA-Tencor Corp.
|
6,726,900 | 259,927 | ||||||
Linear Technology Corp.
|
8,320,000 | 287,789 | ||||||
MasterCard Inc., Class A
|
1,293,901 | 289,976 | ||||||
Maxim Integrated Products, Inc.
|
4,297,700 | 101,512 | ||||||
Microsoft Corp.
|
88,265,800 | 2,464,381 | ||||||
Nokia Corp.
|
24,200,000 | 250,300 | ||||||
Nokia Corp. (ADR)
|
5,652,400 | 58,333 | ||||||
Oracle Corp.
|
55,165,100 | 1,726,668 | ||||||
QUALCOMM Inc.
|
10,157,000 | 502,670 | ||||||
SAP AG
|
1,070,000 | 54,477 | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd.
|
37,914,325 | 92,326 | ||||||
Telefonaktiebolaget LM Ericsson, Class B
|
19,750,000 | 229,489 | ||||||
Texas Instruments Inc.
|
22,825,000 | 741,813 | ||||||
Xilinx, Inc.
|
8,954,500 | 259,501 | ||||||
Yahoo! Inc.1
|
29,583,220 | 491,969 | ||||||
13,704,930 | ||||||||
TELECOMMUNICATION SERVICES — 5.40%
|
||||||||
AT&T Inc.
|
85,701,900 | 2,517,922 | ||||||
France Télécom SA
|
6,220,000 | 129,622 | ||||||
Qwest Communications International Inc.
|
80,980,000 | 616,258 | ||||||
Verizon Communications Inc.
|
2,500,000 | 89,450 | ||||||
3,353,252 | ||||||||
UTILITIES — 3.26%
|
||||||||
Dominion Resources, Inc.
|
10,623,824 | 453,850 | ||||||
Exelon Corp.
|
7,610,600 | 316,905 | ||||||
FirstEnergy Corp.
|
6,443,500 | 238,538 | ||||||
GDF SUEZ
|
16,595,324 | 595,435 | ||||||
NextEra Energy, Inc.
|
300,000 | 15,597 | ||||||
Public Service Enterprise Group Inc.
|
10,000,000 | 318,100 | ||||||
RWE AG
|
1,300,000 | 86,668 | ||||||
2,025,093 | ||||||||
MISCELLANEOUS — 1.44%
|
||||||||
Other common stocks in initial period of acquisition
|
893,526 | |||||||
Total common stocks (cost: $45,333,418,000)
|
57,485,781 | |||||||
Preferred stocks — 0.29%
|
||||||||
FINANCIALS — 0.29%
|
||||||||
JPMorgan Chase & Co., Series I, 7.90%2
|
84,861,000 | 90,510 | ||||||
PNC Funding Corp., Series II, 6.113%2,3
|
5,000,000 | 3,727 | ||||||
PNC Preferred Funding Trust I 6.517%2,3
|
14,900,000 | 11,840 | ||||||
PNC Preferred Funding Trust III 8.70%2,3
|
24,000,000 | 25,560 | ||||||
Société Générale 5.922%2,3
|
24,955,000 | 22,069 | ||||||
Wells Fargo & Co., Series K, 7.98%2
|
23,667,000 | 25,087 | ||||||
Total preferred stocks (cost: $141,167,000)
|
178,793 | |||||||
Value
|
||||||||
Warrants — 0.00%
|
Shares
|
(000 | ) | |||||
FINANCIALS — 0.00%
|
||||||||
Washington Mutual, Inc., warrants, expire 20131,4
|
3,071,428 | $ | — | |||||
Total warrants (cost: $11,770,000)
|
— | |||||||
Convertible securities — 0.62%
|
||||||||
CONSUMER DISCRETIONARY — 0.04%
|
||||||||
Johnson Controls, Inc. 11.50% convertible preferred 2012, units4
|
106,720 | 19,804 | ||||||
FINANCIALS — 0.06%
|
||||||||
American International Group, Inc. 8.50% convertible preferred 2011, units
|
4,211,826 | 37,022 | ||||||
Fannie Mae 5.375% convertible preferred 20321
|
820 | 820 | ||||||
Fannie Mae, Series 2008-1, 8.75% noncumulative convertible preferred1
|
1,218,000 | 609 | ||||||
38,451 | ||||||||
MISCELLANEOUS — 0.52%
|
||||||||
Other convertible securities in initial period of acquisition
|
324,069 | |||||||
Total convertible securities (cost: $772,508,000)
|
382,324 | |||||||
Principal amount
|
||||||||
Bonds & notes — 1.20%
|
(000 | ) | ||||||
ENERGY — 0.02%
|
||||||||
Apache Corp. 6.90% 2018
|
$ | 5,000 | 6,115 | |||||
Chevron Corp. 4.95% 2019
|
5,000 | 5,614 | ||||||
11,729 | ||||||||
MATERIALS — 0.05%
|
||||||||
BHP Billiton Finance (USA) Ltd. 5.50% 2014
|
5,865 | 6,495 | ||||||
Dow Chemical Co. 8.55% 2019
|
15,000 | 18,828 | ||||||
Rio Tinto Finance (USA) Ltd. 9.00% 2019
|
3,780 | 5,085 | ||||||
30,408 | ||||||||
INDUSTRIALS — 0.09%
|
||||||||
Burlington Northern Santa Fe Corp. 5.75% 2018
|
5,000 | 5,642 | ||||||
CSX Corp. 6.25% 2015
|
5,000 | 5,688 | ||||||
Honeywell International Inc. 5.00% 2019
|
4,090 | 4,482 | ||||||
Lockheed Martin Corp. 4.25% 2019
|
3,445 | 3,509 | ||||||
Norfolk Southern Corp. 5.75% 2018
|
2,500 | 2,827 | ||||||
PACCAR Inc, Series A, 6.875% 2014
|
5,000 | 5,739 | ||||||
Raytheon Co. 4.40% 2020
|
3,055 | 3,130 | ||||||
Union Pacific Corp. 5.125% 2014
|
5,000 | 5,421 | ||||||
Union Pacific Corp. 6.125% 2020
|
5,000 | 5,738 | ||||||
United Technologies Corp. 4.50% 2020
|
5,475 | 5,758 | ||||||
Waste Management, Inc. 6.375% 2015
|
5,000 | 5,697 | ||||||
53,631 | ||||||||
CONSUMER DISCRETIONARY — 0.09%
|
||||||||
Comcast Corp. 6.30% 2017
|
12,620 | 14,470 | ||||||
Kohl’s Corp. 6.25% 2017
|
3,500 | 4,044 | ||||||
News America Inc. 6.90% 2019
|
5,000 | 6,000 | ||||||
Staples, Inc. 9.75% 2014
|
7,500 | 9,095 | ||||||
Time Warner Cable Inc. 6.20% 2013
|
2,845 | 3,162 | ||||||
Time Warner Cable Inc. 8.25% 2019
|
5,745 | 7,147 | ||||||
Time Warner Inc. 5.875% 2016
|
10,000 | 11,301 | ||||||
55,219 | ||||||||
CONSUMER STAPLES — 0.04%
|
||||||||
Altria Group, Inc. 9.25% 2019
|
5,000 | 6,535 | ||||||
British American Tobacco International Finance PLC 9.50% 20183
|
5,000 | 6,590 | ||||||
CVS Caremark Corp. 6.60% 2019
|
5,000 | 5,864 | ||||||
Kraft Foods Inc. 2.625% 2013
|
5,110 | 5,258 | ||||||
Tesco PLC 5.50% 20173
|
2,506 | 2,800 | ||||||
27,047 | ||||||||
HEALTH CARE — 0.05%
|
||||||||
Abbott Laboratories 5.125% 2019
|
2,500 | 2,757 | ||||||
Aetna Inc. 5.75% 2011
|
1,961 | 2,005 | ||||||
Aetna Inc. 7.875% 2011
|
865 | 875 | ||||||
Boston Scientific Corp. 5.125% 2017
|
4,265 | 4,263 | ||||||
Cardinal Health, Inc. 5.80% 2016
|
2,905 | 3,263 | ||||||
Novartis Securities Investment Ltd. 5.125% 2019
|
2,500 | 2,770 | ||||||
Pfizer Inc 6.20% 2019
|
2,500 | 2,933 | ||||||
Roche Holdings Inc. 5.00% 20143
|
5,000 | 5,479 | ||||||
Roche Holdings Inc. 6.00% 20193
|
2,500 | 2,908 | ||||||
WellPoint, Inc. 7.00% 2019
|
4,200 | 4,952 | ||||||
32,205 | ||||||||
FINANCIALS — 0.17%
|
||||||||
Allstate Life Global Funding Trust, Series 2008-4, 5.375% 2013
|
5,000 | 5,448 | ||||||
Bank of America Corp. 5.875% 2021
|
7,500 | 7,774 | ||||||
Boston Properties, Inc. 5.875% 2019
|
5,000 | 5,432 | ||||||
Citigroup Inc. 4.587% 2015
|
1,387 | 1,448 | ||||||
Citigroup Inc. 6.125% 2017
|
7,500 | 8,231 | ||||||
MetLife Global Funding I 5.125% 20143
|
7,000 | 7,620 | ||||||
National City Corp. 5.80% 2017
|
1,350 | 1,458 | ||||||
National City Corp. 6.875% 2019
|
3,050 | 3,430 | ||||||
Northern Trust Corp. 4.625% 2014
|
2,650 | 2,867 | ||||||
Regions Bank 7.50% 2018
|
4,350 | 4,487 | ||||||
Regions Financial Corp. 6.375% 2012
|
23,540 | 23,989 | ||||||
Regions Financial Corp. 7.75% 2014
|
13,082 | 13,616 | ||||||
Simon Property Group, LP 4.20% 2015
|
2,600 | 2,721 | ||||||
Simon Property Group, LP 5.25% 2016
|
5,875 | 6,346 | ||||||
Simon Property Group, LP 6.10% 2016
|
1,625 | 1,824 | ||||||
SLM Corp., Series A, 5.125% 2012
|
1,000 | 1,021 | ||||||
SLM Corp., Series A, 5.375% 2013
|
1,905 | 1,944 | ||||||
Wachovia Capital Trust III 5.80% (undated)2
|
5,525 | 4,814 | ||||||
104,470 | ||||||||
INFORMATION TECHNOLOGY — 0.01%
|
||||||||
Cisco Systems, Inc. 4.95% 2019
|
5,000 | 5,458 | ||||||
TELECOMMUNICATION SERVICES — 0.03%
|
||||||||
AT&T Inc. 4.85% 2014
|
5,000 | 5,411 | ||||||
Verizon Communications Inc. 5.55% 2014
|
10,000 | 11,035 | ||||||
Vodafone Group PLC 5.625% 2017
|
2,500 | 2,794 | ||||||
19,240 | ||||||||
UTILITIES — 0.02%
|
||||||||
Jersey Central Power & Light Co. 4.80% 2018
|
4,000 | 4,068 | ||||||
PG&E Corp. 5.75% 2014
|
8,000 | 8,763 | ||||||
12,831 | ||||||||
MORTGAGE-BACKED OBLIGATIONS5 — 0.28%
|
||||||||
Fannie Mae 3.00% 2026
|
15,000 | 14,709 | ||||||
Fannie Mae 3.50% 2025
|
5,914 | 5,971 | ||||||
Fannie Mae 3.50% 2025
|
29,662 | 29,944 | ||||||
Fannie Mae 4.00% 2025
|
12,514 | 12,940 | ||||||
Fannie Mae 4.50% 2040
|
13,309 | 13,680 | ||||||
Fannie Mae 6.00% 2037
|
57,732 | 62,707 | ||||||
Fannie Mae 6.00% 2038
|
6,282 | 6,817 | ||||||
Government National Mortgage Assn. 3.50% 2039
|
1,629 | 1,574 | ||||||
Government National Mortgage Assn. 3.50% 2039
|
11,160 | 10,767 | ||||||
Government National Mortgage Assn. 4.00% 2039
|
3,886 | 3,922 | ||||||
Government National Mortgage Assn. 4.00% 2040
|
3,967 | 4,005 | ||||||
Government National Mortgage Assn. 4.00% 2040
|
3,976 | 4,013 | ||||||
Government National Mortgage Assn. 4.00% 2040
|
3,977 | 4,014 | ||||||
175,063 | ||||||||
BONDS & NOTES OF U.S. GOVERNMENT & GOVERNMENT AGENCIES — 0.35%
|
||||||||
Fannie Mae 1.00% 2013
|
10,000 | 9,985 | ||||||
Federal Home Loan Bank 0.50% 2011
|
23,140 | 23,163 | ||||||
Federal Home Loan Bank 3.625% 2013
|
50,000 | 53,467 | ||||||
Freddie Mac 2.125% 2012
|
10,000 | 10,243 | ||||||
U.S. Treasury 1.125% 2011
|
10,000 | 10,076 | ||||||
U.S. Treasury 1.50% 2013
|
10,000 | 10,145 | ||||||
U.S. Treasury 1.875% 2014
|
10,000 | 10,242 | ||||||
U.S. Treasury 2.25% 2014
|
5,000 | 5,173 | ||||||
U.S. Treasury 2.625% 2020
|
2,000 | 1,897 | ||||||
U.S. Treasury 3.25% 2017
|
7,500 | 7,835 | ||||||
U.S. Treasury 3.50% 2039
|
7,500 | 6,465 | ||||||
U.S. Treasury 3.625% 2020
|
5,000 | 5,190 | ||||||
U.S. Treasury 4.00% 2018
|
10,000 | 10,839 | ||||||
U.S. Treasury 4.125% 2015
|
10,000 | 11,014 | ||||||
U.S. Treasury 4.25% 2013
|
15,000 | 16,335 | ||||||
U.S. Treasury 8.00% 2021
|
20,000 | 28,304 | ||||||
220,373 | ||||||||
Total bonds & notes (cost: $698,024,000)
|
747,674 | |||||||
Short-term securities — 5.19%
|
||||||||
Bank of America Corp. 0.28% due 1/3/2011
|
75,000 | 74,998 | ||||||
Coca-Cola Co. 0.19%–0.22% due 1/12–2/9/20113
|
99,100 | 99,086 | ||||||
Fannie Mae 0.18%–0.49% due 2/14–8/1/2011
|
201,900 | 201,774 | ||||||
Federal Farm Credit Banks 0.19%–0.24% due 6/3–11/8/2011
|
136,700 | 136,507 | ||||||
Federal Home Loan Bank 0.16%–0.45% due 1/5–12/6/2011
|
541,750 | 540,811 | ||||||
Freddie Mac 0.142%–0.42% due 1/3–12/1/2011
|
1,181,947 | 1,180,686 | ||||||
Google, Inc. 0.20% due 1/19/20113
|
25,000 | 24,997 | ||||||
John Deere Credit Ltd. 0.23% due 1/12/20113
|
24,875 | 24,873 | ||||||
Jupiter Securitization Co., LLC 0.25%–0.26% due 1/7–2/16/20113
|
181,400 | 181,370 | ||||||
Procter & Gamble Co. 0.22%–0.24% due 2/8–3/16/20113
|
122,300 | 122,259 | ||||||
Straight-A Funding LLC 0.25% due 1/6–2/2/20113
|
140,600 | 140,577 | ||||||
U.S. Treasury Bills 0.134%–0.278% due 3/10–11/17/2011
|
417,100 | 416,818 | ||||||
Variable Funding Capital Company LLC 0.26%–0.27% due 1/7–1/14/20113
|
77,600 | 77,594 | ||||||
Total short-term securities (cost: $3,222,058,000)
|
3,222,350 | |||||||
Total investment securities (cost: $50,178,945,000)
|
62,016,922 | |||||||
Other assets less liabilities
|
70,920 | |||||||
Net assets
|
$ | 62,087,842 |
Percent
|
||||
of net
|
||||
Industry sector diversification
|
assets
|
|||
Information technology
|
22.07 | % | ||
Energy
|
11.30 | |||
Consumer discretionary
|
10.99 | |||
Consumer staples
|
10.57 | |||
Industrials
|
10.18 | |||
Other industries
|
27.48 | |||
Other securities
|
2.11 | |||
Short-term securities & other assets less liabilities
|
5.30 |
Percent
|
||||||||||||
Value
|
of net
|
|||||||||||
Common stocks - 92.59%
|
Shares | (000 | ) |
assets
|
||||||||
Energy - 11.30%
|
||||||||||||
Baker Hughes Inc.
|
10,030,000 | $ | 573,415 | .92 | % | |||||||
Chevron Corp.
|
6,480,000 | 591,300 | .95 | |||||||||
ConocoPhillips
|
19,779,140 | 1,346,959 | 2.17 | |||||||||
Royal Dutch Shell PLC, Class A (ADR)
|
16,470,000 | 1,099,867 | ||||||||||
Royal Dutch Shell PLC, Class B
|
10,843,265 | 357,556 | ||||||||||
Royal Dutch Shell PLC, Class B (ADR)
|
2,925,498 | 195,043 | 2.66 | |||||||||
Schlumberger Ltd.
|
12,724,999 | 1,062,537 | 1.71 | |||||||||
Other securities
|
1,792,033 | 2.89 | ||||||||||
7,018,710 | 11.30 | |||||||||||
Materials - 3.26%
|
||||||||||||
Dow Chemical Co.
|
25,979,088 | 886,926 | 1.43 | |||||||||
Other securities
|
1,134,560 | 1.83 | ||||||||||
2,021,486 | 3.26 | |||||||||||
Industrials - 10.18%
|
||||||||||||
3M Co.
|
4,834,265 | 417,197 | .67 | |||||||||
CSX Corp.
|
11,681,000 | 754,709 | 1.21 | |||||||||
General Dynamics Corp.
|
11,438,300 | 811,662 | 1.31 | |||||||||
Siemens AG
|
3,465,000 | 429,227 | .69 | |||||||||
Union Pacific Corp.
|
11,104,800 | 1,028,971 | 1.66 | |||||||||
United Technologies Corp.
|
10,340,000 | 813,965 | 1.31 | |||||||||
Other securities
|
2,065,707 | 3.33 | ||||||||||
6,321,438 | 10.18 | |||||||||||
Consumer discretionary - 10.99%
|
||||||||||||
Comcast Corp., Class A
|
22,550,271 | 495,429 | .80 | |||||||||
Home Depot, Inc.
|
24,020,000 | 842,141 | 1.36 | |||||||||
Johnson Controls, Inc.
|
10,000,000 | 382,000 | .61 | |||||||||
McDonald's Corp.
|
7,150,000 | 548,834 | .88 | |||||||||
Staples, Inc.
|
20,625,000 | 469,631 | .76 | |||||||||
Target Corp.
|
12,797,000 | 769,484 | 1.24 | |||||||||
Time Warner Inc.
|
13,399,000 | 431,046 | .69 | |||||||||
Other securities
|
2,885,556 | 4.65 | ||||||||||
6,824,121 | 10.99 | |||||||||||
Consumer staples - 10.57%
|
||||||||||||
Altria Group, Inc.
|
19,134,200 | 471,084 | .76 | |||||||||
Avon Products, Inc.
|
14,082,000 | 409,223 | .66 | |||||||||
CVS/Caremark Corp.
|
13,500,000 | 469,395 | .75 | |||||||||
Kraft Foods Inc., Class A
|
20,874,168 | 657,745 | 1.06 | |||||||||
PepsiCo, Inc.
|
12,821,500 | 837,629 | 1.35 | |||||||||
Philip Morris International Inc.
|
38,151,000 | 2,232,978 | 3.60 | |||||||||
Other securities
|
1,483,088 | 2.39 | ||||||||||
6,561,142 | 10.57 | |||||||||||
Health care - 6.67%
|
||||||||||||
Abbott Laboratories
|
14,335,000 | 686,790 | 1.11 | |||||||||
Boston Scientific Corp. (1)
|
69,340,000 | 524,904 | .85 | |||||||||
Merck & Co., Inc.
|
46,731,429 | 1,684,201 | 2.71 | |||||||||
Other securities
|
1,242,943 | 2.00 | ||||||||||
4,138,838 | 6.67 | |||||||||||
Financials - 7.45%
|
||||||||||||
Banco Santander, SA
|
50,733,040 | 537,475 | ||||||||||
Banco Santander, SA (ADR)
|
5,047,435 | 53,755 | .95 | |||||||||
Bank of America Corp.
|
64,140,935 | 855,640 | 1.38 | |||||||||
JPMorgan Chase & Co.
|
16,290,000 | 691,022 | 1.12 | |||||||||
Wells Fargo & Co.
|
17,235,000 | 534,113 | .86 | |||||||||
Other securities
|
1,951,240 | 3.14 | ||||||||||
4,623,245 | 7.45 | |||||||||||
Information technology - 22.07%
|
||||||||||||
Corning Inc.
|
26,669,820 | 515,261 | .83 | |||||||||
Google Inc., Class A (1)
|
1,830,530 | 1,087,280 | 1.75 | |||||||||
Hewlett-Packard Co.
|
25,540,000 | 1,075,234 | 1.73 | |||||||||
Intel Corp.
|
51,164,700 | 1,075,994 | 1.73 | |||||||||
International Business Machines Corp.
|
4,335,000 | 636,205 | 1.02 | |||||||||
Microsoft Corp.
|
88,265,800 | 2,464,381 | 3.97 | |||||||||
Oracle Corp.
|
55,165,100 | 1,726,668 | 2.78 | |||||||||
QUALCOMM Inc.
|
10,157,000 | 502,670 | .81 | |||||||||
Texas Instruments Inc.
|
22,825,000 | 741,813 | 1.19 | |||||||||
Yahoo! Inc. (1)
|
29,583,220 | 491,969 | .80 | |||||||||
Other securities
|
3,387,455 | 5.46 | ||||||||||
13,704,930 | 22.07 | |||||||||||
Telecommunication services - 5.40%
|
||||||||||||
AT&T Inc.
|
85,701,900 | 2,517,922 | 4.06 | |||||||||
Qwest Communications International Inc.
|
80,980,000 | 616,258 | .99 | |||||||||
Other securities
|
219,072 | .35 | ||||||||||
3,353,252 | 5.40 | |||||||||||
Utilities - 3.26%
|
||||||||||||
Dominion Resources, Inc.
|
10,623,824 | 453,850 | .73 | |||||||||
GDF SUEZ
|
16,595,324 | 595,435 | .96 | |||||||||
Other securities
|
975,808 | 1.57 | ||||||||||
2,025,093 | 3.26 | |||||||||||
Miscellaneous - 1.44%
|
||||||||||||
Other common stocks in initial period of acquisition
|
893,526 | 1.44 | ||||||||||
Total common stocks (cost: $45,333,418,000)
|
57,485,781 | 92.59 | ||||||||||
Preferred stocks - 0.29%
|
||||||||||||
Financials - 0.29%
|
||||||||||||
JPMorgan Chase & Co., Series I, 7.90% (2)
|
84,861,000 | 90,510 | .15 | |||||||||
Wells Fargo & Co., Series K, 7.98% (2)
|
23,667,000 | 25,087 | .04 | |||||||||
Other securities
|
63,196 | .10 | ||||||||||
Total preferred stocks (cost: $141,167,000)
|
178,793 | .29 | ||||||||||
Warrants - 0.00%
|
||||||||||||
Financials - 0.00%
|
||||||||||||
Other securities
|
- | .00 | ||||||||||
Total warrants (cost: $11,770,000)
|
- | .00 | ||||||||||
Convertible securities - 0.62%
|
||||||||||||
Other - 0.10%
|
||||||||||||
Other securities
|
58,255 | .10 | ||||||||||
Miscellaneous - 0.52%
|
||||||||||||
Other convertible securities in initial period of acquisition
|
324,069 | .52 | ||||||||||
Total convertible securities (cost: $772,508,000)
|
382,324 | .62 | ||||||||||
Principal
|
||||||||||||
amount (000)
|
||||||||||||
Bonds & notes - 1.20%
|
||||||||||||
Materials - 0.05%
|
||||||||||||
Dow Chemical Co. 8.55% 2019
|
$ | 15,000 | 18,828 | .03 | ||||||||
Other securities
|
11,580 | .02 | ||||||||||
30,408 | .05 | |||||||||||
Industrials - 0.09%
|
||||||||||||
CSX Corp. 6.25% 2015
|
5,000 | 5,688 | .01 | |||||||||
Union Pacific Corp. 5.125%-6.125% 2014-2010
|
10,000 | 11,159 | .02 | |||||||||
United Technologies Corp. 4.50% 2020
|
5,475 | 5,758 | .01 | |||||||||
Other securities
|
31,026 | .05 | ||||||||||
53,631 | .09 | |||||||||||
Consumer staples - 0.04%
|
||||||||||||
Kraft Foods Inc. 2.625% 2013
|
5,110 | 5,258 | .01 | |||||||||
Other securities
|
21,789 | .03 | ||||||||||
27,047 | .04 | |||||||||||
Health care - 0.05%
|
||||||||||||
Abbott Laboratories 5.125% 2019
|
2,500 | 2,757 | .00 | |||||||||
Other securities
|
29,448 | .05 | ||||||||||
32,205 | .05 | |||||||||||
Financials - 0.17%
|
||||||||||||
Bank of America Corp. 5.875% 2021
|
7,500 | 7,774 | .01 | |||||||||
Wachovia Capital Trust III 5.80% (undated) (2)
|
5,525 | 4,814 | .01 | |||||||||
Other securities
|
91,882 | .15 | ||||||||||
104,470 | .17 | |||||||||||
Telecommunication services - 0.03%
|
||||||||||||
AT&T Inc. 4.85% 2014
|
5,000 | 5,411 | .01 | |||||||||
Other securities
|
13,829 | .02 | ||||||||||
19,240 | .03 | |||||||||||
Bonds & notes of U.S. government & government agencies - 0.35%
|
||||||||||||
Freddie Mac 2.125% 2012
|
10,000 | 10,243 | .01 | |||||||||
Other securities
|
210,130 | .34 | ||||||||||
220,373 | .35 | |||||||||||
Other - 0.42%
|
||||||||||||
Other securities
|
260,300 | .42 | ||||||||||
Total bonds & notes (cost: $698,024,000)
|
747,674 | 1.20 | ||||||||||
Short-term securities - 5.19%
|
||||||||||||
Bank of America Corp. 0.28% due 1/3/2011
|
75,000 | 74,998 | .12 | |||||||||
Federal Home Loan Bank 0.16%-0.45% due 1/5-12/6/2011
|
541,750 | 540,811 | .87 | |||||||||
Freddie Mac 0.142%-0.42% due 1/3-12/1/2011
|
1,181,947 | 1,180,686 | 1.90 | |||||||||
Google Inc. 0.20% due 1/19/2011 (3)
|
25,000 | 24,997 | .04 | |||||||||
Jupiter Securitization Co., LLC 0.25%-0.26% due 1/7-2/16/2011 (3)
|
181,400 | 181,370 | .29 | |||||||||
U.S. Treasury Bills 0.134%-0.278% due 3/10-11/17/2011
|
417,100 | 416,818 | .67 | |||||||||
Variable Funding Capital Company LLC 0.26%-0.27% due 1/7-1/14/2011 (3)
|
77,600 | 77,594 | .13 | |||||||||
Other securities
|
725,076 | 1.17 | ||||||||||
Total short-term securities (cost: $3,222,058,000)
|
3,222,350 | 5.19 | ||||||||||
Total investment securities (cost: $50,178,945,000)
|
62,016,922 | 99.89 | ||||||||||
Other assets less liabilities
|
70,920 | .11 | ||||||||||
Net assets
|
$ | 62,087,842 | 100.00 | % |
"Miscellaneous" securities include holdings in their initial period of acquisition that have not previously been publicly disclosed.
|
||
"Other securities” includes all issues that are not disclosed separately in the summary investment portfolio, including securities which were valued under fair value procedures adopted by authority of the board of trustees. The total value of all such securities was $19,804,000, which represented .03% of the net assets of the fund.
|
||
The following footnotes apply to either the individual securities noted or one or more of the securities aggregated and listed as a single line item.
|
||
(1) Security did not produce income during the last 12 months.
|
||
(2) Coupon rate may change periodically.
|
||
(3) Acquired in a transaction exempt from registration under 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, including those in "Other securities," was $759,349,000, which represented 1.22% of the net assets of the fund.
|
||
Key to abbreviation
|
||
ADR = American Depositary Receipts
|
||
See Notes to Financial Statements
|
Statement of assets and liabilities
|
||||||||
at December 31, 2010
|
(dollars in thousands) | |||||||
Assets:
|
||||||||
Investment securities, at value (cost: $50,178,945)
|
$ | 62,016,922 | ||||||
Cash
|
519 | |||||||
Receivables for:
|
||||||||
Sales of investments
|
$ | 54,289 | ||||||
Sales of fund's shares
|
219,763 | |||||||
Dividends and interest
|
107,469 | 381,521 | ||||||
62,398,962 | ||||||||
Liabilities:
|
||||||||
Payables for:
|
||||||||
Purchases of investments
|
12,451 | |||||||
Repurchases of fund's shares
|
257,402 | |||||||
Investment advisory services
|
12,584 | |||||||
Services provided by related parties
|
21,464 | |||||||
Trustees' and advisory board's deferred compensation
|
6,645 | |||||||
Other
|
574 | 311,120 | ||||||
Net assets at December 31, 2010
|
$ | 62,087,842 | ||||||
Net assets consist of:
|
||||||||
Capital paid in on shares of beneficial interest
|
$ | 51,786,748 | ||||||
Undistributed net investment income
|
150,245 | |||||||
Accumulated net realized loss
|
(1,687,746 | ) | ||||||
Net unrealized appreciation
|
11,838,595 | |||||||
Net assets at December 31, 2010
|
$ | 62,087,842 |
(dollars and shares in thousands, except per-share amounts)
|
||||||||||||
Shares of beneficial interest issued and outstanding (no stated par value) -
unlimited shares authorized (2,206,123 total shares outstanding)
|
||||||||||||
Net assets
|
Shares
outstanding
|
Net asset value
per share
|
||||||||||
Class A
|
$ | 48,788,660 | 1,732,646 | $ | 28.16 | |||||||
Class B
|
1,430,498 | 51,001 | 28.05 | |||||||||
Class C
|
2,212,075 | 79,087 | 27.97 | |||||||||
Class F-1
|
1,558,162 | 55,415 | 28.12 | |||||||||
Class F-2
|
669,186 | 23,769 | 28.15 | |||||||||
Class 529-A
|
1,361,473 | 48,414 | 28.12 | |||||||||
Class 529-B
|
165,057 | 5,882 | 28.06 | |||||||||
Class 529-C
|
352,292 | 12,555 | 28.06 | |||||||||
Class 529-E
|
56,950 | 2,029 | 28.07 | |||||||||
Class 529-F-1
|
27,465 | 977 | 28.10 | |||||||||
Class R-1
|
78,218 | 2,791 | 28.02 | |||||||||
Class R-2
|
654,231 | 23,325 | 28.05 | |||||||||
Class R-3
|
826,897 | 29,430 | 28.10 | |||||||||
Class R-4
|
680,788 | 24,214 | 28.12 | |||||||||
Class R-5
|
895,438 | 31,810 | 28.15 | |||||||||
Class R-6
|
2,330,452 | 82,778 | 28.15 | |||||||||
See Notes to Financial Statements
|
Statement of operations
|
||||||||
for the year ended December 31, 2010
|
(dollars in thousands) | |||||||
Investment income:
|
||||||||
Income:
|
||||||||
Dividends (net of non-U.S. taxes of $37,220)
|
$ | 1,548,139 | ||||||
Interest
|
79,123 | $ | 1,627,262 | |||||
Fees and expenses*:
|
||||||||
Investment advisory services
|
143,719 | |||||||
Distribution services
|
168,379 | |||||||
Transfer agent services
|
59,609 | |||||||
Administrative services
|
17,601 | |||||||
Reports to shareholders
|
2,868 | |||||||
Registration statement and prospectus
|
937 | |||||||
Trustees' and advisory board's compensation
|
1,193 | |||||||
Auditing and legal
|
210 | |||||||
Custodian
|
1,308 | |||||||
State and local taxes
|
507 | |||||||
Other
|
2,802 | 399,133 | ||||||
Net investment income
|
1,228,129 | |||||||
Net realized gain and unrealized appreciation
|
||||||||
on investments and currency:
|
||||||||
Net realized gain on:
|
||||||||
Investments
|
1,760,328 | |||||||
Currency transactions
|
1,868 | 1,762,196 | ||||||
Net unrealized appreciation (depreciation) on:
|
||||||||
Investments
|
3,079,669 | |||||||
Currency translations
|
(113 | ) | 3,079,556 | |||||
Net realized gain and unrealized appreciation
|
||||||||
on investments and currency
|
4,841,752 | |||||||
Net increase in net assets resulting
|
||||||||
from operations
|
$ | 6,069,881 | ||||||
*Additional information related to class-specific fees and expenses is included in the Notes to Financial Statements.
|
||||||||
See Notes to Financial Statements
|
||||||||
Statements of changes in net assets
|
(dollars in thousands) | |||||||
Year ended December 31
|
||||||||
2010 | 2009 | |||||||
Operations:
|
||||||||
Net investment income
|
$ | 1,228,129 | $ | 1,224,302 | ||||
Net realized gain (loss) on investments and currency transactions
|
1,762,196 | (1,814,229 | ) | |||||
Net unrealized appreciation on investments and currency translations
|
3,079,556 | 13,859,597 | ||||||
Net increase in net assets resulting from operations
|
6,069,881 | 13,269,670 | ||||||
Dividends paid to shareholders from net investment income
|
(1,235,556 | ) | (1,346,554 | ) | ||||
Net capital share transactions
|
(4,388,099 | ) | (3,397,226 | ) | ||||
Total increase in net assets
|
446,226 | 8,525,890 | ||||||
Net assets:
|
||||||||
Beginning of year
|
61,641,616 | 53,115,726 | ||||||
End of year (including undistributed
|
||||||||
net investment income: $150,245 and $153,405, respectively)
|
$ | 62,087,842 | $ | 61,641,616 | ||||
See Notes to Financial Statements
|
1.
|
Organization
|
Share class
|
Initial sales charge
|
Contingent deferred sales charge upon redemption
|
Conversion feature
|
Classes A and 529-A
|
Up to 5.75%
|
None (except 1% for certain redemptions within one year of purchase without an initial sales charge)
|
None
|
Classes B and 529-B*
|
None
|
Declines from 5% to 0% for redemptions within six years of purchase
|
Classes B and 529-B convert to Classes A and 529-A, respectively, after eight years
|
Class C
|
None
|
1% for redemptions within one year of purchase
|
Class C converts to Class F-1 after 10 years
|
Class 529-C
|
None
|
1% for redemptions within one year of purchase
|
None
|
Class 529-E
|
None
|
None
|
None
|
Classes F-1, F-2 and 529-F-1
|
None
|
None
|
None
|
Classes R-1, R-2, R-3, R-4, R-5 and R-6
|
None
|
None
|
None
|
2.
|
Significant accounting policies
|
3.
|
Valuation
|
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
|
||||||||||||
Common stocks:
|
||||||||||||||||
Energy
|
$ | 7,018,710 | $ | - | $ | - | $ | 7,018,710 | ||||||||
Materials
|
2,021,486 | - | - | 2,021,486 | ||||||||||||
Industrials
|
6,321,438 | - | - | 6,321,438 | ||||||||||||
Consumer discretionary
|
6,824,121 | - | - | 6,824,121 | ||||||||||||
Consumer staples
|
6,561,142 | - | - | 6,561,142 | ||||||||||||
Health care
|
4,138,838 | - | - | 4,138,838 | ||||||||||||
Financials
|
4,623,245 | - | - | 4,623,245 | ||||||||||||
Information technology
|
13,704,930 | - | - | 13,704,930 | ||||||||||||
Telecommunication services
|
3,353,252 | - | - | 3,353,252 | ||||||||||||
Utilities
|
2,025,093 | - | - | 2,025,093 | ||||||||||||
Miscellaneous
|
893,526 | - | - | 893,526 | ||||||||||||
Preferred stocks
|
- | 178,793 | - | 178,793 | ||||||||||||
Convertible securities
|
291,201 | 91,123 | - | 382,324 | ||||||||||||
Bonds & notes
|
- | 747,674 | - | 747,674 | ||||||||||||
Short-term securities
|
- | 3,222,350 | - | 3,222,350 | ||||||||||||
Total
|
$ | 57,776,982 | $ | 4,239,940 | $ | - | $ | 62,016,922 |
4.
|
Risk factors
|
(dollars in thousands) | ||||
Undistributed ordinary income
|
$ | 307,318 | ||
Post-October currency loss deferrals (realized during the period November 1, 2010, through December 31, 2010)*
|
(378 | ) | ||
Capital loss carryforward expiring 2017†
|
(1,855,257 | ) | ||
Gross unrealized appreciation on investment securities
|
15,624,332 | |||
Gross unrealized depreciation on investment securities
|
(3,770,912 | ) | ||
Net unrealized appreciation on investment securities
|
11,853,420 | |||
Cost of investment securities
|
50,163,502 | |||
*These deferrals are considered incurred in the subsequent year.
|
||||
†Reflects the utilization of capital loss carryforwards of $1,759,245,000. The capital loss carryforward will be used to offset any capital gains realized by the fund in future years through the expiration date. The fund will not make distributions from capital gains while a capital loss carryforward remains.
|
Year ended December 31
|
||||||||
Share class
|
2010
|
2009
|
||||||
Class A
|
$ | 1,005,853 | $ | 1,112,521 | ||||
Class B
|
21,001 | 35,814 | ||||||
Class C
|
28,562 | 35,279 | ||||||
Class F-1
|
28,517 | 26,295 | ||||||
Class F-2
|
13,921 | 6,735 | ||||||
Class 529-A
|
25,697 | 24,270 | ||||||
Class 529-B
|
2,163 | 3,003 | ||||||
Class 529-C
|
4,217 | 4,644 | ||||||
Class 529-E
|
934 | 934 | ||||||
Class 529-F-1
|
554 | 471 | ||||||
Class R-1
|
982 | 956 | ||||||
Class R-2
|
8,218 | 8,796 | ||||||
Class R-3
|
13,829 | 14,242 | ||||||
Class R-4
|
13,162 | 12,685 | ||||||
Class R-5
|
20,363 | 51,696 | ||||||
Class R-6*
|
47,583 | 8,213 | ||||||
Total
|
$ | 1,235,556 | $ | 1,346,554 | ||||
*Class R-6 was offered beginning May 1, 2009.
|
Share class
|
Currently approved limits
|
Plan limits
|
Class A
|
0.25%
|
0.25%
|
Class 529-A
|
0.25
|
0.50
|
Classes B and 529-B
|
1.00
|
1.00
|
Classes C, 529-C and R-1
|
1.00
|
1.00
|
Class R-2
|
0.75
|
1.00
|
Classes 529-E and R-3
|
0.50
|
0.75
|
Classes F-1, 529-F-1 and R-4
|
0.25
|
0.50
|
Administrative services
|
||||||||||||||||||||
Share class |
Distribution services
|
Transfer agent services
|
CRMC administrative services
|
Transfer agent services
|
Commonwealth of Virginia administrative services
|
|||||||||||||||
Class A
|
$ | 108,893 | $ | 57,634 |
Not applicable
|
Not applicable
|
Not applicable
|
|||||||||||||
Class B
|
16,174 | 1,975 |
Not applicable
|
Not applicable
|
Not applicable
|
|||||||||||||||
Class C
|
21,455 |
Included
in
administrative services
|
$ | 3,222 | $ | 465 |
Not applicable
|
|||||||||||||
Class F-1
|
3,295 | 1,947 | 127 |
Not applicable
|
||||||||||||||||
Class F-2
|
Not applicable | 763 | 20 |
Not applicable
|
||||||||||||||||
Class 529-A
|
2,608 | 1,174 | 186 | $ | 1,216 | |||||||||||||||
Class 529-B
|
1,777 | 171 | 54 | 178 | ||||||||||||||||
Class 529-C
|
3,212 | 312 | 84 | 324 | ||||||||||||||||
Class 529-E
|
258 | 50 | 8 | 51 | ||||||||||||||||
Class 529-F-1
|
- | 23 | 4 | 24 | ||||||||||||||||
Class R-1
|
708 | 94 | 22 |
Not applicable
|
||||||||||||||||
Class R-2
|
4,613 | 916 | 1,759 |
Not applicable
|
||||||||||||||||
Class R-3
|
3,816 | 1,123 | 511 |
Not applicable
|
||||||||||||||||
Class R-4
|
1,570 | 926 | 22 |
Not applicable
|
||||||||||||||||
Class R-5
|
Not applicable | 871 | 8 |
Not applicable
|
||||||||||||||||
Class R-6
|
Not applicable | 944 | 2 |
Not applicable
|
||||||||||||||||
Total
|
$ | 168,379 | $ | 59,609 | $ | 12,536 | $ | 3,272 | $ | 1,793 |
Sales*
|
Reinvestments of dividends and distributions
|
Repurchases*
|
Net (decrease) increase
|
|||||||||||||||||||||||||||||
Share class
|
Amount
|
Shares
|
Amount
|
Shares
|
Amount
|
Shares
|
Amount
|
Shares
|
||||||||||||||||||||||||
Year ended December 31, 2010
|
||||||||||||||||||||||||||||||||
Class A
|
$ | 3,024,163 | 115,953 | $ | 950,500 | 36,358 | $ | (8,132,665 | ) | (313,061 | ) | $ | (4,158,002 | ) | (160,750 | ) | ||||||||||||||||
Class B
|
20,991 | 810 | 20,489 | 787 | (742,985 | ) | (28,631 | ) | (701,505 | ) | (27,034 | ) | ||||||||||||||||||||
Class C
|
194,001 | 7,500 | 27,267 | 1,047 | (423,553 | ) | (16,460 | ) | (202,285 | ) | (7,913 | ) | ||||||||||||||||||||
Class F-1
|
645,213 | 24,850 | 26,422 | 1,009 | (440,996 | ) | (17,109 | ) | 230,639 | 8,750 | ||||||||||||||||||||||
Class F-2
|
188,724 | 7,288 | 8,483 | 324 | (114,003 | ) | (4,373 | ) | 83,204 | 3,239 | ||||||||||||||||||||||
Class 529-A
|
190,625 | 7,307 | 25,691 | 982 | (133,020 | ) | (5,132 | ) | 83,296 | 3,157 | ||||||||||||||||||||||
Class 529-B
|
3,130 | 121 | 2,162 | 83 | (54,629 | ) | (2,101 | ) | (49,337 | ) | (1,897 | ) | ||||||||||||||||||||
Class 529-C
|
43,489 | 1,673 | 4,216 | 162 | (43,434 | ) | (1,681 | ) | 4,271 | 154 | ||||||||||||||||||||||
Class 529-E
|
6,922 | 267 | 934 | 36 | (6,078 | ) | (235 | ) | 1,778 | 68 | ||||||||||||||||||||||
Class 529-F-1
|
6,732 | 259 | 553 | 21 | (3,786 | ) | (144 | ) | 3,499 | 136 | ||||||||||||||||||||||
Class R-1
|
21,944 | 847 | 980 | 37 | (16,667 | ) | (645 | ) | 6,257 | 239 | ||||||||||||||||||||||
Class R-2
|
151,069 | 5,829 | 8,213 | 314 | (176,798 | ) | (6,843 | ) | (17,516 | ) | (700 | ) | ||||||||||||||||||||
Class R-3
|
204,939 | 7,917 | 13,825 | 529 | (224,863 | ) | (8,682 | ) | (6,099 | ) | (236 | ) | ||||||||||||||||||||
Class R-4
|
179,309 | 7,037 | 13,153 | 503 | (190,929 | ) | (7,405 | ) | 1,533 | 135 | ||||||||||||||||||||||
Class R-5
|
135,775 | 5,217 | 20,244 | 775 | (1,463,855 | ) | (56,008 | ) | (1,307,836 | ) | (50,016 | ) | ||||||||||||||||||||
Class R-6
|
1,764,498 | 67,113 | 47,582 | 1,820 | (172,076 | ) | (6,723 | ) | 1,640,004 | 62,210 | ||||||||||||||||||||||
Total net increase
|
||||||||||||||||||||||||||||||||
(decrease)
|
$ | 6,781,524 | 259,988 | $ | 1,170,714 | 44,787 | $ | (12,340,337 | ) | (475,233 | ) | $ | (4,388,099 | ) | (170,458 | ) | ||||||||||||||||
Year ended December 31, 2009
|
||||||||||||||||||||||||||||||||
Class A
|
$ | 3,518,129 | 160,970 | $ | 1,039,709 | 49,310 | $ | (8,226,013 | ) | (380,131 | ) | $ | (3,668,175 | ) | (169,851 | ) | ||||||||||||||||
Class B
|
61,574 | 3,016 | 34,638 | 1,696 | (687,861 | ) | (31,673 | ) | (591,649 | ) | (26,961 | ) | ||||||||||||||||||||
Class C
|
225,665 | 10,369 | 33,440 | 1,623 | (421,934 | ) | (19,789 | ) | (162,829 | ) | (7,797 | ) | ||||||||||||||||||||
Class F-1
|
373,135 | 16,530 | 23,244 | 1,103 | (419,203 | ) | (19,146 | ) | (22,824 | ) | (1,513 | ) | ||||||||||||||||||||
Class F-2
|
436,097 | 19,106 | 4,659 | 206 | (61,811 | ) | (2,749 | ) | 378,945 | 16,563 | ||||||||||||||||||||||
Class 529-A
|
147,182 | 6,639 | 24,250 | 1,147 | (119,449 | ) | (5,425 | ) | 51,983 | 2,361 | ||||||||||||||||||||||
Class 529-B
|
7,435 | 361 | 3,001 | 145 | (17,814 | ) | (813 | ) | (7,378 | ) | (307 | ) | ||||||||||||||||||||
Class 529-C
|
46,212 | 2,105 | 4,640 | 224 | (41,148 | ) | (1,861 | ) | 9,704 | 468 | ||||||||||||||||||||||
Class 529-E
|
7,228 | 329 | 933 | 44 | (5,476 | ) | (248 | ) | 2,685 | 125 | ||||||||||||||||||||||
Class 529-F-1
|
6,264 | 284 | 470 | 22 | (3,669 | ) | (164 | ) | 3,065 | 142 | ||||||||||||||||||||||
Class R-1
|
19,533 | 891 | 954 | 46 | (11,671 | ) | (526 | ) | 8,816 | 411 | ||||||||||||||||||||||
Class R-2
|
159,857 | 7,330 | 8,788 | 421 | (133,396 | ) | (6,118 | ) | 35,249 | 1,633 | ||||||||||||||||||||||
Class R-3
|
219,289 | 9,963 | 14,229 | 675 | (179,973 | ) | (8,112 | ) | 53,545 | 2,526 | ||||||||||||||||||||||
Class R-4
|
495,247 | 22,370 | 12,679 | 580 | (317,249 | ) | (13,410 | ) | 190,677 | 9,540 | ||||||||||||||||||||||
Class R-5
|
603,306 | 26,788 | 51,354 | 2,450 | (777,329 | ) | (36,239 | ) | (122,669 | ) | (7,001 | ) | ||||||||||||||||||||
Class R-6†
|
457,079 | 21,079 | 8,212 | 342 | (21,662 | ) | (853 | ) | 443,629 | 20,568 | ||||||||||||||||||||||
Total net increase
|
||||||||||||||||||||||||||||||||
(decrease)
|
$ | 6,783,232 | 308,130 | $ | 1,265,200 | 60,034 | $ | (11,445,658 | ) | (527,257 | ) | $ | (3,397,226 | ) | (159,093 | ) | ||||||||||||||||
*Includes exchanges between share classes of the fund.
|
||||||||||||||||||||||||||||||||
†Class R-6 was offered beginning May 1, 2009.
|
Income (loss) from investment operations(2)
|
Dividends and distributions
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period
|
Net investment income
|
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 period
|
Total
return(3) (4)
|
Net assets, end of period (in millions)
|
Ratio of expenses to average net assets before reimbursements/
waivers
|
Ratio of expenses to average net assets after reimbursements/
waivers(4)
|
Ratio of net income to average net assets(4)
|
||||||||||||||||||||||||||||||||||||||||
Class A:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2010
|
$ | 25.95 | $ | .55 | $ | 2.22 | $ | 2.77 | $ | (.56 | ) | $ | - | $ | (.56 | ) | $ | 28.16 | 10.86 | % | $ | 48,789 | .61 | % | .61 | % | 2.12 | % | ||||||||||||||||||||||||
Year ended 12/31/2009
|
20.96 | .52 | 5.04 | 5.56 | (.57 | ) | - | (.57 | ) | 25.95 | 27.18 | 49,136 | .66 | .66 | 2.32 | |||||||||||||||||||||||||||||||||||||
Year ended 12/31/2008
|
32.95 | .63 | (11.94 | ) | (11.31 | ) | (.68 | ) | - | (.68 | ) | 20.96 | (34.74 | ) | 43,244 | .59 | .57 | 2.25 | ||||||||||||||||||||||||||||||||||
Year ended 12/31/2007
|
33.51 | .72 | 1.24 | 1.96 | (.66 | ) | (1.86 | ) | (2.52 | ) | 32.95 | 5.94 | 73,480 | .56 | .54 | 2.05 | ||||||||||||||||||||||||||||||||||||
Year ended 12/31/2006
|
31.36 | .72 | 4.23 | 4.95 | (.74 | ) | (2.06 | ) | (2.80 | ) | 33.51 | 15.94 | 74,181 | .57 | .54 | 2.16 | ||||||||||||||||||||||||||||||||||||
Class B:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2010
|
25.84 | .35 | 2.21 | 2.56 | (.35 | ) | - | (.35 | ) | 28.05 | 10.03 | 1,431 | 1.38 | 1.38 | 1.36 | |||||||||||||||||||||||||||||||||||||
Year ended 12/31/2009
|
20.87 | .35 | 5.02 | 5.37 | (.40 | ) | - | (.40 | ) | 25.84 | 26.19 | 2,017 | 1.43 | 1.43 | 1.57 | |||||||||||||||||||||||||||||||||||||
Year ended 12/31/2008
|
32.81 | .41 | (11.89 | ) | (11.48 | ) | (.46 | ) | - | (.46 | ) | 20.87 | (35.25 | ) | 2,191 | 1.36 | 1.34 | 1.48 | ||||||||||||||||||||||||||||||||||
Year ended 12/31/2007
|
33.37 | .45 | 1.24 | 1.69 | (.39 | ) | (1.86 | ) | (2.25 | ) | 32.81 | 5.15 | 4,138 | 1.33 | 1.31 | 1.28 | ||||||||||||||||||||||||||||||||||||
Year ended 12/31/2006
|
31.24 | .46 | 4.21 | 4.67 | (.48 | ) | (2.06 | ) | (2.54 | ) | 33.37 | 15.04 | 4,222 | 1.34 | 1.32 | 1.38 | ||||||||||||||||||||||||||||||||||||
Class C:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2010
|
25.78 | .34 | 2.20 | 2.54 | (.35 | ) | - | (.35 | ) | 27.97 | 9.95 | 2,212 | 1.43 | 1.43 | 1.31 | |||||||||||||||||||||||||||||||||||||
Year ended 12/31/2009
|
20.82 | .34 | 5.01 | 5.35 | (.39 | ) | - | (.39 | ) | 25.78 | 26.20 | 2,243 | 1.46 | 1.46 | 1.53 | |||||||||||||||||||||||||||||||||||||
Year ended 12/31/2008
|
32.74 | .40 | (11.86 | ) | (11.46 | ) | (.46 | ) | - | (.46 | ) | 20.82 | (35.29 | ) | 1,974 | 1.41 | 1.38 | 1.44 | ||||||||||||||||||||||||||||||||||
Year ended 12/31/2007
|
33.31 | .43 | 1.23 | 1.66 | (.37 | ) | (1.86 | ) | (2.23 | ) | 32.74 | 5.08 | 3,409 | 1.38 | 1.36 | 1.23 | ||||||||||||||||||||||||||||||||||||
Year ended 12/31/2006
|
31.18 | .44 | 4.21 | 4.65 | (.46 | ) | (2.06 | ) | (2.52 | ) | 33.31 | 15.00 | 3,350 | 1.41 | 1.38 | 1.32 | ||||||||||||||||||||||||||||||||||||
Class F-1:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2010
|
25.92 | .54 | 2.21 | 2.75 | (.55 | ) | - | (.55 | ) | 28.12 | 10.78 | 1,558 | .66 | .66 | 2.07 | |||||||||||||||||||||||||||||||||||||
Year ended 12/31/2009
|
20.93 | .51 | 5.05 | 5.56 | (.57 | ) | - | (.57 | ) | 25.92 | 27.21 | 1,209 | .68 | .68 | 2.31 | |||||||||||||||||||||||||||||||||||||
Year ended 12/31/2008
|
32.91 | .62 | (11.93 | ) | (11.31 | ) | (.67 | ) | - | (.67 | ) | 20.93 | (34.77 | ) | 1,009 | .62 | .60 | 2.23 | ||||||||||||||||||||||||||||||||||
Year ended 12/31/2007
|
33.48 | .70 | 1.24 | 1.94 | (.65 | ) | (1.86 | ) | (2.51 | ) | 32.91 | 5.87 | 1,642 | .60 | .58 | 2.01 | ||||||||||||||||||||||||||||||||||||
Year ended 12/31/2006
|
31.32 | .71 | 4.24 | 4.95 | (.73 | ) | (2.06 | ) | (2.79 | ) | 33.48 | 15.95 | 1,673 | .60 | .58 | 2.12 | ||||||||||||||||||||||||||||||||||||
Class F-2:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2010
|
25.95 | .61 | 2.21 | 2.82 | (.62 | ) | - | (.62 | ) | 28.15 | 11.07 | 669 | .39 | .39 | 2.34 | |||||||||||||||||||||||||||||||||||||
Year ended 12/31/2009
|
20.96 | .56 | 5.06 | 5.62 | (.63 | ) | - | (.63 | ) | 25.95 | 27.50 | 533 | .42 | .42 | 2.37 | |||||||||||||||||||||||||||||||||||||
Period from 8/1/2008 to 12/31/2008
|
28.53 | .26 | (7.47 | ) | (7.21 | ) | (.36 | ) | - | (.36 | ) | 20.96 | (25.39 | ) | 83 | .17 | .16 | 1.24 | ||||||||||||||||||||||||||||||||||
Class 529-A:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2010
|
25.92 | .53 | 2.22 | 2.75 | (.55 | ) | - | (.55 | ) | 28.12 | 10.77 | 1,362 | .68 | .68 | 2.05 | |||||||||||||||||||||||||||||||||||||
Year ended 12/31/2009
|
20.93 | .50 | 5.04 | 5.54 | (.55 | ) | - | (.55 | ) | 25.92 | 27.12 | 1,173 | .73 | .73 | 2.24 | |||||||||||||||||||||||||||||||||||||
Year ended 12/31/2008
|
32.91 | .60 | (11.92 | ) | (11.32 | ) | (.66 | ) | - | (.66 | ) | 20.93 | (34.79 | ) | 898 | .67 | .65 | 2.19 | ||||||||||||||||||||||||||||||||||
Year ended 12/31/2007
|
33.48 | .68 | 1.24 | 1.92 | (.63 | ) | (1.86 | ) | (2.49 | ) | 32.91 | 5.83 | 1,311 | .65 | .63 | 1.95 | ||||||||||||||||||||||||||||||||||||
Year ended 12/31/2006
|
31.33 | .69 | 4.24 | 4.93 | (.72 | ) | (2.06 | ) | (2.78 | ) | 33.48 | 15.87 | 1,118 | .64 | .62 | 2.08 | ||||||||||||||||||||||||||||||||||||
Class 529-B:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2010
|
25.86 | .33 | 2.20 | 2.53 | (.33 | ) | - | (.33 | ) | 28.06 | 9.87 | 165 | 1.48 | 1.48 | 1.26 | |||||||||||||||||||||||||||||||||||||
Year ended 12/31/2009
|
20.89 | .32 | 5.03 | 5.35 | (.38 | ) | - | (.38 | ) | 25.86 | 26.07 | 201 | 1.53 | 1.53 | 1.45 | |||||||||||||||||||||||||||||||||||||
Year ended 12/31/2008
|
32.83 | .38 | (11.88 | ) | (11.50 | ) | (.44 | ) | - | (.44 | ) | 20.89 | (35.29 | ) | 169 | 1.47 | 1.45 | 1.38 | ||||||||||||||||||||||||||||||||||
Year ended 12/31/2007
|
33.40 | .40 | 1.24 | 1.64 | (.35 | ) | (1.86 | ) | (2.21 | ) | 32.83 | 4.99 | 261 | 1.46 | 1.43 | 1.15 | ||||||||||||||||||||||||||||||||||||
Year ended 12/31/2006
|
31.27 | .42 | 4.21 | 4.63 | (.44 | ) | (2.06 | ) | (2.50 | ) | 33.40 | 14.90 | 238 | 1.47 | 1.45 | 1.25 | ||||||||||||||||||||||||||||||||||||
Class 529-C:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2010
|
25.86 | .33 | 2.21 | 2.54 | (.34 | ) | - | (.34 | ) | 28.06 | 9.91 | 352 | 1.47 | 1.47 | 1.26 | |||||||||||||||||||||||||||||||||||||
Year ended 12/31/2009
|
20.89 | .32 | 5.03 | 5.35 | (.38 | ) | - | (.38 | ) | 25.86 | 26.09 | 321 | 1.52 | 1.52 | 1.45 | |||||||||||||||||||||||||||||||||||||
Year ended 12/31/2008
|
32.84 | .38 | (11.89 | ) | (11.51 | ) | (.44 | ) | - | (.44 | ) | 20.89 | (35.31 | ) | 249 | 1.46 | 1.44 | 1.39 | ||||||||||||||||||||||||||||||||||
Year ended 12/31/2007
|
33.41 | .40 | 1.24 | 1.64 | (.35 | ) | (1.86 | ) | (2.21 | ) | 32.84 | 4.99 | 374 | 1.45 | 1.43 | 1.15 | ||||||||||||||||||||||||||||||||||||
Year ended 12/31/2006
|
31.27 | .42 | 4.23 | 4.65 | (.45 | ) | (2.06 | ) | (2.51 | ) | 33.41 | 14.94 | 325 | 1.46 | 1.44 | 1.26 | ||||||||||||||||||||||||||||||||||||
Class 529-E:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2010
|
25.87 | .46 | 2.21 | 2.67 | (.47 | ) | - | (.47 | ) | 28.07 | 10.46 | 57 | .97 | .97 | 1.76 | |||||||||||||||||||||||||||||||||||||
Year ended 12/31/2009
|
20.89 | .43 | 5.04 | 5.47 | (.49 | ) | - | (.49 | ) | 25.87 | 26.77 | 51 | 1.02 | 1.02 | 1.96 | |||||||||||||||||||||||||||||||||||||
Year ended 12/31/2008
|
32.85 | .52 | (11.90 | ) | (11.38 | ) | (.58 | ) | - | (.58 | ) | 20.89 | (34.98 | ) | 38 | .96 | .94 | 1.90 | ||||||||||||||||||||||||||||||||||
Year ended 12/31/2007
|
33.42 | .58 | 1.24 | 1.82 | (.53 | ) | (1.86 | ) | (2.39 | ) | 32.85 | 5.52 | 56 | .95 | .92 | 1.66 | ||||||||||||||||||||||||||||||||||||
Year ended 12/31/2006
|
31.28 | .59 | 4.23 | 4.82 | (.62 | ) | (2.06 | ) | (2.68 | ) | 33.42 | 15.52 | 48 | .95 | .92 | 1.78 | ||||||||||||||||||||||||||||||||||||
Class 529-F-1:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2010
|
$ | 25.90 | $ | .59 | $ | 2.21 | $ | 2.80 | $ | (.60 | ) | $ | - | $ | (.60 | ) | $ | 28.10 | 11.00 | % | $ | 28 | .47 | % | .47 | % | 2.26 | % | ||||||||||||||||||||||||
Year ended 12/31/2009
|
20.92 | .55 | 5.03 | 5.58 | (.60 | ) | - | (.60 | ) | 25.90 | 27.37 | 22 | .52 | .52 | 2.44 | |||||||||||||||||||||||||||||||||||||
Year ended 12/31/2008
|
32.90 | .66 | (11.92 | ) | (11.26 | ) | (.72 | ) | - | (.72 | ) | 20.92 | (34.66 | ) | 15 | .46 | .44 | 2.40 | ||||||||||||||||||||||||||||||||||
Year ended 12/31/2007
|
33.47 | .75 | 1.24 | 1.99 | (.70 | ) | (1.86 | ) | (2.56 | ) | 32.90 | 6.05 | 19 | .45 | .42 | 2.15 | ||||||||||||||||||||||||||||||||||||
Year ended 12/31/2006
|
31.32 | .76 | 4.23 | 4.99 | (.78 | ) | (2.06 | ) | (2.84 | ) | 33.47 | 16.10 | 13 | .45 | .42 | 2.27 | ||||||||||||||||||||||||||||||||||||
Class R-1:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2010
|
25.83 | .35 | 2.20 | 2.55 | (.36 | ) | - | (.36 | ) | 28.02 | 9.96 | 78 | 1.41 | 1.41 | 1.32 | |||||||||||||||||||||||||||||||||||||
Year ended 12/31/2009
|
20.87 | .34 | 5.02 | 5.36 | (.40 | ) | - | (.40 | ) | 25.83 | 26.18 | 66 | 1.44 | 1.44 | 1.52 | |||||||||||||||||||||||||||||||||||||
Year ended 12/31/2008
|
32.81 | .40 | (11.88 | ) | (11.48 | ) | (.46 | ) | - | (.46 | ) | 20.87 | (35.25 | ) | 45 | 1.39 | 1.36 | 1.48 | ||||||||||||||||||||||||||||||||||
Year ended 12/31/2007
|
33.39 | .42 | 1.23 | 1.65 | (.37 | ) | (1.86 | ) | (2.23 | ) | 32.81 | 5.06 | 61 | 1.40 | 1.38 | 1.20 | ||||||||||||||||||||||||||||||||||||
Year ended 12/31/2006
|
31.25 | .44 | 4.22 | 4.66 | (.46 | ) | (2.06 | ) | (2.52 | ) | 33.39 | 14.96 | 49 | 1.42 | 1.39 | 1.31 | ||||||||||||||||||||||||||||||||||||
Class R-2:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2010
|
25.85 | .34 | 2.21 | 2.55 | (.35 | ) | - | (.35 | ) | 28.05 | 9.96 | 654 | 1.44 | 1.44 | 1.30 | |||||||||||||||||||||||||||||||||||||
Year ended 12/31/2009
|
20.88 | .32 | 5.03 | 5.35 | (.38 | ) | - | (.38 | ) | 25.85 | 26.08 | 621 | 1.52 | 1.52 | 1.45 | |||||||||||||||||||||||||||||||||||||
Year ended 12/31/2008
|
32.83 | .38 | (11.89 | ) | (11.51 | ) | (.44 | ) | - | (.44 | ) | 20.88 | (35.33 | ) | 468 | 1.48 | 1.46 | 1.37 | ||||||||||||||||||||||||||||||||||
Year ended 12/31/2007
|
33.40 | .42 | 1.23 | 1.65 | (.36 | ) | (1.86 | ) | (2.22 | ) | 32.83 | 5.04 | 694 | 1.44 | 1.39 | 1.19 | ||||||||||||||||||||||||||||||||||||
Year ended 12/31/2006
|
31.26 | .43 | 4.23 | 4.66 | (.46 | ) | (2.06 | ) | (2.52 | ) | 33.40 | 14.99 | 625 | 1.50 | 1.39 | 1.31 | ||||||||||||||||||||||||||||||||||||
Class R-3:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2010
|
25.90 | .46 | 2.21 | 2.67 | (.47 | ) | - | (.47 | ) | 28.10 | 10.45 | 827 | .97 | .97 | 1.77 | |||||||||||||||||||||||||||||||||||||
Year ended 12/31/2009
|
20.92 | .44 | 5.04 | 5.48 | (.50 | ) | - | (.50 | ) | 25.90 | 26.76 | 768 | 1.00 | 1.00 | 1.97 | |||||||||||||||||||||||||||||||||||||
Year ended 12/31/2008
|
32.88 | .53 | (11.90 | ) | (11.37 | ) | (.59 | ) | - | (.59 | ) | 20.92 | (34.94 | ) | 568 | .92 | .90 | 1.91 | ||||||||||||||||||||||||||||||||||
Year ended 12/31/2007
|
33.45 | .58 | 1.24 | 1.82 | (.53 | ) | (1.86 | ) | (2.39 | ) | 32.88 | 5.52 | 1,032 | .94 | .92 | 1.66 | ||||||||||||||||||||||||||||||||||||
Year ended 12/31/2006
|
31.30 | .59 | 4.24 | 4.83 | (.62 | ) | (2.06 | ) | (2.68 | ) | 33.45 | 15.54 | 909 | .94 | .92 | 1.78 | ||||||||||||||||||||||||||||||||||||
Class R-4:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2010
|
25.91 | .54 | 2.22 | 2.76 | (.55 | ) | - | (.55 | ) | 28.12 | 10.82 | 681 | .65 | .65 | 2.08 | |||||||||||||||||||||||||||||||||||||
Year ended 12/31/2009
|
20.93 | .50 | 5.05 | 5.55 | (.57 | ) | - | (.57 | ) | 25.91 | 27.16 | 624 | .68 | .68 | 2.21 | |||||||||||||||||||||||||||||||||||||
Year ended 12/31/2008
|
32.90 | .61 | (11.91 | ) | (11.30 | ) | (.67 | ) | - | (.67 | ) | 20.93 | (34.78 | ) | 304 | .65 | .62 | 2.21 | ||||||||||||||||||||||||||||||||||
Year ended 12/31/2007
|
33.48 | .68 | 1.23 | 1.91 | (.63 | ) | (1.86 | ) | (2.49 | ) | 32.90 | 5.85 | 419 | .65 | .63 | 1.95 | ||||||||||||||||||||||||||||||||||||
Year ended 12/31/2006
|
31.32 | .69 | 4.24 | 4.93 | (.71 | ) | (2.06 | ) | (2.77 | ) | 33.48 | 15.90 | 323 | .65 | .62 | 2.07 | ||||||||||||||||||||||||||||||||||||
Class R-5:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2010
|
25.94 | .61 | 2.23 | 2.84 | (.63 | ) | - | (.63 | ) | 28.15 | 11.14 | 895 | .35 | .35 | 2.33 | |||||||||||||||||||||||||||||||||||||
Year ended 12/31/2009
|
20.95 | .58 | 5.04 | 5.62 | (.63 | ) | - | (.63 | ) | 25.94 | 27.57 | 2,123 | .38 | .38 | 2.62 | |||||||||||||||||||||||||||||||||||||
Year ended 12/31/2008
|
32.95 | .69 | (11.94 | ) | (11.25 | ) | (.75 | ) | - | (.75 | ) | 20.95 | (34.60 | ) | 1,861 | .35 | .33 | 2.52 | ||||||||||||||||||||||||||||||||||
Year ended 12/31/2007
|
33.51 | .79 | 1.25 | 2.04 | (.74 | ) | (1.86 | ) | (2.60 | ) | 32.95 | 6.18 | 2,307 | .35 | .33 | 2.25 | ||||||||||||||||||||||||||||||||||||
Year ended 12/31/2006
|
31.35 | .79 | 4.24 | 5.03 | (.81 | ) | (2.06 | ) | (2.87 | ) | 33.51 | 16.22 | 1,980 | .35 | .33 | 2.37 | ||||||||||||||||||||||||||||||||||||
Class R-6:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2010
|
25.95 | .63 | 2.21 | 2.84 | (.64 | ) | - | (.64 | ) | 28.15 | 11.16 | 2,330 | .30 | .30 | 2.45 | |||||||||||||||||||||||||||||||||||||
Period from 5/1/2009 to 12/31/2009
|
20.70 | .40 | 5.30 | 5.70 | (.45 | ) | - | (.45 | ) | 25.95 | 27.76 | 534 | .33 | (5) | .33 | (5) | 2.52 | (5) |
Year ended December 31
|
||||||||||||||||||||
2010
|
2009
|
2008
|
2007
|
2006
|
||||||||||||||||
Portfolio turnover rate for all share classes
|
23 | % | 28 | % | 31 | % | 22 | % | 20 | % |
(1)Based on operations for the periods shown (unless otherwise noted) and, accordingly, may not be representative of a full year.
|
|||||||||||||
(2)Based on average shares outstanding.
|
|||||||||||||
(3)Total returns exclude any applicable sales charges, including contingent deferred sales charges.
|
|||||||||||||
(4)This column reflects the impact, if any, of certain reimbursements/waivers from CRMC. During some of the periods shown, CRMC reduced fees for investment advisory services. In addition, during some of the periods shown, CRMC paid a portion of the fund's transfer agent fees for certain retirement plan share classes.
|
|||||||||||||
(5)Annualized.
|
|||||||||||||
See Notes to Financial Statements
|