Code of Professional Standards
Washington Mutual Investors Fund
As adopted June 19, 2003
Preamble: The above named Fund has adopted this Code of Professional
Standards (the "Code") in accordance with the requirements of Form N-CSR adopted
by the Securities and Exchange Commission (the "SEC") pursuant to Section 406 of
the Sarbanes-Oxley Act of 2002.
1. The Fund has adopted this Code for the purpose of deterring wrongdoing
and promoting honest and ethical conduct. The Code applies to the principal
executive officer and principal financial and accounting officer (together the
"Officers") of the Fund.
2. The Officers shall conduct themselves in such a manner as to deter
wrongdoing and to promote: (a) honest and ethical conduct in the affairs of the
Fund, including the ethical handling of actual or apparent conflicts of interest
between personal and professional relationships; (b) full, fair, accurate,
timely and understandable disclosure in reports and documents that the Fund
files with, or submits to, the Securities and Exchange Commission and in other
public communications made by the Fund; and (c) compliance with applicable
governmental laws, rules and regulations.
It is the responsibility of the Officers, by their words and actions, to
foster a corporate culture that encourages honest and ethical conduct, including
the ethical resolution of, and appropriate disclosure of, conflicts of interest.
The Officers should work to assure a working environment that is characterized
by respect for law and compliance with applicable rules and regulations.
The Officers must:
o act with integrity;
o familiarize themselves with the disclosure requirements generally
applicable to the Fund and, to the extent appropriate within the
Officer's area of responsibility, take appropriate steps with the goal
of promoting full, fair, accurate, timely and understandable
disclosure in reports and documents the Fund files with the SEC and in
other public communications made by the Fund;
o not knowingly misrepresent, or cause others to misrepresent, facts
about the Fund; and o not use personal influence or personal
relationships to improperly influence investment decisions or
financial reporting whereby the Officer would benefit personally to
the detriment of the Fund.
3. Reporting. Upon receipt of this Code and annually thereafter, the
Officers must sign an acknowledgement stating that he or she has received, read
and understands the Code.
4. Violations. Any person who becomes aware of an apparent violation of
this Code must report it to the Fund's Compliance Officer or Chairman of the
Fund. The Compliance Officer is authorized to investigate any such violations
and report his or her findings to the Chairman of the Board. The Chairman may
report violations of the Code to the Board of Directors, if he or she believes
such reporting is appropriate. The Chairman may also determine the appropriate
sanction for any violations of this Code, including removal from office,
provided that removal from office shall only be carried out with the approval of
the Board of Directors of the Fund.
5. Amendments. Technical, administrative or other non-substantive
amendments to this Code must be approved by the Chairman of the Fund and any
material amendment must be approved by the Board of Directors. Amendments must
be filed with the SEC as required by applicable rules. All amendments must be in
writing.
6. Relationship to Codes of Ethics. The Fund and its principal service
providers have adopted codes of ethics under Rule 17j-1 under the Investment
Company Act of 1940. Those codes are separate requirements and are not part of
this Code.
7. Confidentiality. All reports and records prepared or maintained pursuant
to this Code shall be confidential and shall be maintained and protected
accordingly. Except as otherwise required by law or this Code, such matters
shall not be disclosed to anyone.
