UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
Certified Shareholder Report of
Registered Management Investment Companies
Investment Company Act File Number: 811-22656
American Funds Portfolio Series
(Exact Name of Registrant as Specified in Charter)
6455 Irvine Center Drive
Irvine, California 92618
(Address of Principal Executive Offices)
Registrant's telephone number, including area code: (949) 975-5000
Date of fiscal year end: October 31
Date of reporting period: April 30, 2013
Steven I. Koszalka
American Funds Portfolio Series
6455 Irvine Center Drive
Irvine, California 92618
(Name and Address of Agent for Service)
Copies to:
Michael Glazer
Bingham McCutchen LLP
355 South Grand Avenue, Suite 4400
Los Angeles, California 90071
(Counsel for the Registrant)
ITEM 1 – Reports to Stockholders
 | |
| From Capital Group | |
American Funds Portfolio SeriesSM
Semi-annual report for the six months ended April 30, 2013
American Funds Portfolio Series seeks to help investors meet a wide range of investment goals, including preservation of capital, income, balance and growth. Each fund in the series is an objective-based portfolio of actively managed American Funds.
American Funds, from Capital Group, is one of the nation’s largest mutual fund families. For more than 80 years, Capital has invested with a long-term focus based on thorough research and attention to risk.
Fund results shown in this report, unless otherwise indicated, are for Class A shares at net asset value. If a sales charge had been deducted, the results would have been lower. Results are for past periods and are not predictive of results for future periods. Current and future results may be lower or higher than those shown. Share prices and returns will vary, so investors may lose money. Investing for short periods makes losses more likely. Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value. For current information and month-end results, visit americanfunds.com.
Here are the cumulative total returns on a $1,000 investment with all distributions reinvested for the period ended March 31, 2013 (the most recent calendar quarter-end). Also shown are the estimated gross and net expense ratios as of the series’ prospectus dated January 1, 2013:
| Class A shares | Lifetime total return* | Gross expense ratio | Net expense ratio | |||||||||
| Total returns reflecting 5.75% maximum initial sales charge: | ||||||||||||
| American Funds Global Growth PortfolioSM | 16.61 | % | 1.14 | % | 1.04 | % | ||||||
| American Funds Growth PortfolioSM | 16.10 | 1.00 | 0.90 | |||||||||
| American Funds Growth and Income PortfolioSM | 11.82 | 0.92 | 0.82 | |||||||||
| American Funds Balanced PortfolioSM | 10.08 | 0.89 | 0.79 | |||||||||
| American Funds Income PortfolioSM | 6.88 | 0.85 | 0.75 | |||||||||
| Total return reflecting 3.75% maximum initial sales charge: | ||||||||||||
| American Funds Tax-Advantaged Income PortfolioSM | 10.26 | 1.03 | 0.93 | |||||||||
| Total returns reflecting 2.50% maximum initial sales charge: | ||||||||||||
| American Funds Preservation PortfolioSM | –1.33 | 0.88 | 0.75 | |||||||||
| American Funds Tax-Exempt Preservation PortfolioSM | 0.53 | 0.99 | 0.76 | |||||||||
| *Since May 18, 2012. | ||||||||||||
Investment results assume all distributions are reinvested and reflect applicable fees and expenses. The portfolio series’ funds invest in Class R-6 shares of the underlying funds. The series’ investment adviser is currently waiving its management fee of 0.10%, and reimbursing a portion of other expenses in all share classes for the Tax-Exempt Preservation Portfolio and the Preservation Portfolio. Investment results and net expense ratios shown reflect the waiver and reimbursements, without which the results would have been lower and the expenses would have been higher. Expense ratios are estimated as of each fund’s prospectus available at the time of publication and include the weighted average expenses of the underlying funds. The waiver for all funds and the reimbursement for the Tax-Exempt Preservation Portfolio and the Preservation Portfolio will remain in effect at least through December 31, 2013. After that time, the adviser may elect at its discretion to extend, modify or terminate the reimbursement. The waiver may only be modified or terminated with the approval of the series’ board of trustees.
Investment allocations may not achieve fund objectives. There are expenses associated with the underlying funds in addition to fund of funds expenses. The funds’ risks are directly related to the risks of the underlying funds. Refer to the series’ prospectus and the Risk Factors section of this report for more information on these and other risks associated with investing in the series.
 |
It’s our pleasure to present the semi-annual report for American Funds Portfolio Series, which covers the six-month period ended April 30, 2013. We take this opportunity to welcome new investors. Launched on May 18, 2012, the series held total net assets of nearly $4.8 billion as of April 30.
About the series
The series offers eight funds, each one a combination of individual American Funds. Each fund has a specific investment objective — such as preservation, balance and appreciation — and is intended to help investors pursue longer term goals, such as saving for college or retirement. These funds can be used in combination or individually, taking into consideration the investor’s time frame, risk tolerance and other factors.
Each fund’s mix of underlying funds is developed by American Funds’ senior investment professionals. Our Portfolio Oversight Committee meets regularly to review the series’ results and determine whether to make any changes to the target weightings of the funds.
The economy
The U.S. continued its recovery, albeit at a moderate pace, during the reporting period. Gross domestic product (GDP) was up 0.4% in the fourth quarter of 2012 and an estimated 2.4% in the first quarter of 2013. Following the “Great Recession,” the U.S. economy has now expanded for 15 consecutive quarters. The housing market showed noticeable improvement and, as a result, helped to boost many other sectors as well. The S&P/Case-Shiller index — a widely followed measure of home prices —rose in January at its fastest rate since the summer of 2006. Growth in the job market pushed the unemployment rate down to 7.5% at the end of April, its lowest level since 2008. Inflation remained benign, with the Consumer Price Index, a key measure of inflation, increasing 0.5% for the six months ended April 30.
The stock market
U.S. stocks rallied sharply during the reporting period, with major indexes passing all-time highs. First quarter 2013 results were particularly healthy, rebounding from a fourth-quarter 2012 decline exacerbated by troubling global events and ongoing fiscal challenges. Standard & Poor’s 500 Composite Index (a broad measure of the U.S. stock market) gained 14.4% for the period. Despite the fact that several European economies remain in recession and that growth in China has slowed, international markets were also quite strong. The MSCI All Country World ex USA Index (a leading benchmark for developed markets outside North America) climbed 12.8% for the six months.
| Contents | ||
| 1 | Letter to investors | |
| 4 | Investment portfolios | |
| 12 | Financial statements | |
| American Funds Portfolio Series | 1 |
The bond market
The Federal Reserve continued its accommodative monetary policy and indicated that it planned to keep the target range for the federal funds rate exceptionally low until its unemployment and inflation goals are met.
With low interest rates as a backdrop, most sectors of the bond market saw positive results during the period. Barclays U.S. Aggregate Index (a measure of the broad fixed-income market) inched up 0.9%. Government, municipal and corporate investment-grade bonds all realized modest gains. Investors’ appetite for risk grew, as lower rated, high-yield bonds led all bond sectors, with the Barclays U.S. Corporate High Yield 2% Issuer Capped Index climbing 7.3%.
How the series fared
All of the funds in the series posted positive results for the period. Given the stock market’s rally, the series’ growth-oriented funds advanced to the greatest degree. While returns for those funds geared toward preservation may seem slight thus far, the goal is to maintain the value of assets in their portfolios. Since the funds in the series are intended as long-term investment vehicles, it’s more constructive to review results over extended time frames. The table on page 3 shows the series’ results since its inception nearly 12 months ago. While we are pleased by the lifetime results, one year is a relatively brief investment period. Investors are best served by maintaining a long-term perspective.
Moving forward
We are encouraged by many positive signs. Economic activity is expanding, labor market conditions are improving, the housing sector continues to strengthen, and business and consumer spending has increased moderately. However, cutbacks in government expenditures may restrain economic growth. With interest rates remaining so low for a prolonged period, inflation may become a concern. As the economic expansion continues and the need for accommodative Federal Reserve policy declines, there may be considerable volatility in bond market returns, with spillovers into other asset classes. Diversification becomes even more crucial in such an environment.
Regardless of the challenges that may lie ahead, we remain committed to our objective-based approach to investing, comprehensively evaluating company fundamentals in an effort to identify investments that may represent the best value over the long term.
We thank you for making American Funds Portfolio Series part of your investment plan. We look forward to reporting to you again at the end of our fiscal year.
Cordially,
Bradley J. Vogt
Vice Chairman of the Board
Walter R. Burkley
President
June 13, 2013
For current information about the series, visit americanfunds.com.
| 2 | American Funds Portfolio Series |
Results at a glance
Cumulative total returns for Class A shares for the period ended April 30, 2013 (with all distributions reinvested)
| Lifetime | ||||||||
| 6 months | (since 5/18/12) | |||||||
| American Funds Global Growth Portfolio | 14.03 | % | 27.37 | % | ||||
| MSCI ACWI (All Country World Index)*† | 13.46 | 26.44 | ||||||
| Lipper Global Funds Index | 15.01 | 27.13 | ||||||
| American Funds Growth Portfolio | 14.44 | 26.11 | ||||||
| Standard & Poor’s 500 Composite Index* | 14.41 | 26.14 | ||||||
| Lipper Growth Funds Index | 14.26 | 24.98 | ||||||
| American Funds Growth and Income Portfolio | 11.48 | 22.22 | ||||||
| Standard & Poor’s 500 Composite Index* | 14.41 | 26.14 | ||||||
| Lipper Growth and Income Funds Index | 13.30 | 24.93 | ||||||
| American Funds Balanced Portfolio | 10.05 | 19.54 | ||||||
| Standard & Poor’s 500 Composite Index* | 14.41 | 26.14 | ||||||
| Lipper Balanced Funds Index | 8.73 | 16.76 | ||||||
| American Funds Income Portfolio | 8.65 | 16.07 | ||||||
| Standard & Poor’s 500 Composite Index* | 14.41 | 26.14 | ||||||
| Lipper Income Funds Index | 6.58 | 13.30 | ||||||
| American Funds Tax-Advantaged Income Portfolio | 8.71 | 17.12 | ||||||
| Barclays Municipal Bond Index* | 1.78 | 4.39 | ||||||
| Lipper Income Funds Index | 6.58 | 13.30 | ||||||
| American Funds Preservation Portfolio | .46 | 1.73 | ||||||
| Barclays U.S. Government/Credit 1–7 Years ex BBB Index* | .80 | 2.01 | ||||||
| Lipper Short-Intermediate Investment-Grade Debt Funds Index | 1.18 | 3.74 | ||||||
| American Funds Tax-Exempt Preservation Portfolio | 1.62 | 3.76 | ||||||
| Barclays Municipal Short-Intermediate 1–10 Years Index* | 1.16 | 2.50 | ||||||
| Lipper Intermediate Municipal Debt Funds Index | 1.55 | 3.64 | ||||||
| * | The market indexes are unmanaged and, therefore, have no expenses. |
| † | Results reflect dividends net of withholding taxes. |
The MSCI ACWI is a free float-adjusted market capitalization-weighted index that is designed to measure results of more than 40 developed and emerging equity markets. The S&P 500 is a market capitalization-weighted index based on the average weighted results of 500 widely held common stocks.
Lipper Global Funds Index is an equally weighted index of funds that invest at least 25% of their portfolios in securities traded outside of the U.S. and may own U.S. securities as well. Lipper Growth Funds Index is an equally weighted index of growth funds. Lipper Growth and Income Funds Index is an equally weighted index of funds that combine a growth-of-earnings orientation and an income requirement for level and/or rising dividends. Lipper Balanced Funds Index is an equally weighted index of funds that seek to conserve principal by maintaining a balanced portfolio of both stocks and bonds. Lipper Income Funds Index is an equally weighted index of funds that normally seek a high level of current income through investing in income-producing stocks, bonds and money market instruments. Lipper Short-Intermediate Investment-Grade Debt Funds Index is an equally weighted index of funds that invest primarily in investment-grade debt issues (rated in the top four grades) with dollar-weighted average maturities of one to five years. Lipper Intermediate Municipal Debt Funds Index is an equally weighted index of funds that invest in municipal debt issues with dollar-weighted average maturities of five to 10 years.
Barclays Municipal Bond Index is a market-value-weighted index designed to represent the long-term investment-grade tax-exempt bond market. Barclays U.S. Government/Credit 1–7 Years ex BBB Index is a market-value-weighted index that tracks the total return results of fixed-rate, publicly placed, dollar-denominated obligations issued by the U.S. Treasury, U.S. government agencies, quasi-federal corporations, corporate or foreign debt guaranteed by the U.S. government, and U.S. corporate and foreign debentures and secured notes that meet specified maturity, liquidity and quality requirements, with maturities of one to seven years, excluding BBB-rated securities. Barclays Municipal Short-Intermediate 1–10 Years Index is a market-value-weighted index that includes investment-grade (rated BBB and above) tax-exempt bonds with maturities of one to 10 years.
| American Funds Portfolio Series | 3 |
| American Funds Global Growth Portfolio | unaudited |
| Investment portfolio, April 30, 2013 |
| Fund investments | Shares | Value (000) | Percent of net assets | |||||||||
| Growth funds — 70.0% | ||||||||||||
| The New Economy Fund, Class R-6 | 1,909,702 | $ | 61,912 | 20.0 | % | |||||||
| New Perspective Fund, Class R-6 | 2,721,829 | 92,869 | 30.0 | |||||||||
| New World Fund, Inc., Class R-6 | 1,092,510 | 61,913 | 20.0 | |||||||||
| 216,694 | 70.0 | |||||||||||
| Growth-and-income funds — 30.0% | ||||||||||||
| Capital World Growth and Income Fund, Class R-6 | 2,271,186 | 92,869 | 30.0 | |||||||||
| Total investment securities (cost: $281,855,000) | 309,563 | 100.0 | ||||||||||
| Other assets less liabilities | (81 | ) | — | |||||||||
| Net assets | $ | 309,482 | 100.0 | % | ||||||||
See Notes to Financial Statements
| 4 | American Funds Portfolio Series |
| American Funds Growth Portfolio | unaudited |
| Investment portfolio, April 30, 2013 |
| Fund investments | Shares | Value (000) | Percent of net assets | |||||||||
| Growth funds — 70.0% | ||||||||||||
| AMCAP Fund, Class R-6 | 6,363,216 | $ | 155,644 | 30.0 | % | |||||||
| EuroPacific Growth Fund, Class R-6 | 2,957,217 | 129,704 | 25.0 | |||||||||
| SMALLCAP World Fund, Inc., Class R-6 | 1,755,915 | 77,822 | 15.0 | |||||||||
| 363,170 | 70.0 | |||||||||||
| Growth-and-income funds — 30.0% | ||||||||||||
| Fundamental Investors, Class R-6 | 3,435,097 | 155,644 | 30.0 | |||||||||
| Total investment securities (cost: $469,577,000) | 518,814 | 100.0 | ||||||||||
| Other assets less liabilities | (120 | ) | — | |||||||||
| Net assets | $ | 518,694 | 100.0 | % | ||||||||
See Notes to Financial Statements
| American Funds Portfolio Series | 5 |
| American Funds Growth and Income Portfolio | unaudited |
| Investment portfolio, April 30, 2013 |
| Fund investments | Shares | Value (000) | Percent of net assets | |||||||||
| Growth funds — 20.0% | ||||||||||||
| The Growth Fund of America, Inc., Class R-6 | 6,075,800 | $ | 230,698 | 20.0 | % | |||||||
| Growth-and-income funds — 40.0% | ||||||||||||
| Capital World Growth and Income Fund, Class R-6 | 5,641,920 | 230,698 | 20.0 | |||||||||
| The Investment Company of America, Class R-6 | 6,803,247 | 230,698 | 20.0 | |||||||||
| 461,396 | 40.0 | |||||||||||
| Equity-income and Balanced funds — 25.0% | ||||||||||||
| Capital Income Builder, Class R-6 | 5,029,171 | 288,373 | 25.0 | |||||||||
| Bond funds — 15.0% | ||||||||||||
| Capital World Bond Fund, Class R-6 | 8,196,286 | 173,024 | 15.0 | |||||||||
| Total investment securities (cost: $1,066,781,000) | 1,153,491 | 100.0 | ||||||||||
| Other assets less liabilities | (364 | ) | — | |||||||||
| Net assets | $ | 1,153,127 | 100.0 | % | ||||||||
See Notes to Financial Statements
| 6 | American Funds Portfolio Series |
| American Funds Balanced Portfolio | unaudited |
| Investment portfolio, April 30, 2013 |
| Fund investments | Shares | Value (000) | Percent of net assets | |||||||||
| Growth funds — 20.0% | ||||||||||||
| New Perspective Fund, Class R-6 | 5,580,307 | $ | 190,400 | 20.0 | % | |||||||
| Growth-and-income funds — 30.0% | ||||||||||||
| Capital World Growth and Income Fund, Class R-6 | 3,492,298 | 142,800 | 15.0 | |||||||||
| Washington Mutual Investors Fund, Class R-6 | 4,068,378 | 142,800 | 15.0 | |||||||||
| 285,600 | 30.0 | |||||||||||
| Equity-income and Balanced funds — 25.0% | ||||||||||||
| American Balanced Fund, Class R-6 | 10,725,556 | 238,000 | 25.0 | |||||||||
| Bond funds — 25.0% | ||||||||||||
| The Bond Fund of America, Class R-6 | 18,335,909 | 238,000 | 25.0 | |||||||||
| Total investment securities (cost: $885,460,000) | 952,000 | 100.0 | ||||||||||
| Other assets less liabilities | (159 | ) | — | |||||||||
| Net assets | $ | 951,841 | 100.0 | % | ||||||||
See Notes to Financial Statements
| American Funds Portfolio Series | 7 |
| American Funds Income Portfolio | unaudited |
| Investment portfolio, April 30, 2013 |
| Fund investments | Shares | Value (000) | Percent of net assets | |||||||||
| Growth-and-income funds — 20.0% | ||||||||||||
| American Mutual Fund, Class R-6 | 6,220,055 | $ | 199,229 | 20.0 | % | |||||||
| Equity-income and Balanced funds — 40.0% | ||||||||||||
| Capital Income Builder, Class R-6 | 3,474,509 | 199,229 | 20.0 | |||||||||
| The Income Fund of America, Class R-6 | 10,138,848 | 199,228 | 20.0 | |||||||||
| 398,457 | 40.0 | |||||||||||
| Bond funds — 40.0% | ||||||||||||
| American High-Income Trust, Class R-6 | 17,160,066 | 199,228 | 20.0 | |||||||||
| U.S. Government Securities Fund, Class R-6 | 14,030,167 | 199,228 | 20.0 | |||||||||
| 398,456 | 40.0 | |||||||||||
| Total investment securities (cost: $941,518,000) | 996,142 | 100.0 | ||||||||||
| Other assets less liabilities | (180 | ) | — | |||||||||
| Net assets | $ | 995,962 | 100.0 | % | ||||||||
See Notes to Financial Statements
| 8 | American Funds Portfolio Series |
| American Funds Tax-Advantaged Income Portfolio | unaudited |
| Investment portfolio, April 30, 2013 |
| Fund investments | Shares | Value (000) | Percent of net assets | |||||||||
| Growth-and-income funds — 50.0% | ||||||||||||
| Capital World Growth and Income Fund, Class R-6 | 1,171,859 | $ | 47,918 | 25.0 | % | |||||||
| Washington Mutual Investors Fund, Class R-6 | 1,365,166 | 47,917 | 25.0 | |||||||||
| 95,835 | 50.0 | |||||||||||
| Tax-exempt bond funds — 50.0% | ||||||||||||
| American High-Income Municipal Bond Fund, Class R-6 | 3,063,767 | 47,917 | 25.0 | |||||||||
| The Tax-Exempt Bond Fund of America, Class R-6 | 3,621,868 | 47,917 | 25.0 | |||||||||
| 95,834 | 50.0 | |||||||||||
| Total investment securities (cost: $179,225,000) | 191,669 | 100.0 | ||||||||||
| Other assets less liabilities | (36 | ) | — | |||||||||
| Net assets | $ | 191,633 | 100.0 | % | ||||||||
See Notes to Financial Statements
| American Funds Portfolio Series | 9 |
| American Funds Preservation Portfolio | unaudited |
| Investment portfolio, April 30, 2013 |
| Fund investments | Shares | Value (000) | Percent of net assets | |||||||||
| Bond funds — 100.0% | ||||||||||||
| The Bond Fund of America, Class R-6 | 7,025,744 | $ | 91,194 | 20.0 | % | |||||||
| Intermediate Bond Fund of America, Class R-6 | 13,264,605 | 182,389 | 40.0 | |||||||||
| Short-Term Bond Fund of America, Class R-6 | 18,112,047 | 182,388 | 40.0 | |||||||||
| Total investment securities (cost: $455,632,000) | 455,971 | 100.0 | ||||||||||
| Other assets less liabilities | (132 | ) | — | |||||||||
| Net assets | $ | 455,839 | 100.0 | % | ||||||||
See Notes to Financial Statements
| 10 | American Funds Portfolio Series |
| American Funds Tax-Exempt Preservation Portfolio | unaudited |
| Investment portfolio, April 30, 2013 |
| Fund investments | Shares | Value (000) | Percent of net assets | |||||||||
| Tax-exempt bond funds — 100.0% | ||||||||||||
| Limited Term Tax-Exempt Bond Fund of America, Class R-6 | 8,758,838 | $ | 143,907 | 70.0 | % | |||||||
| The Tax-Exempt Bond Fund of America, Class R-6 | 4,661,733 | 61,675 | 30.0 | |||||||||
| Total investment securities (cost: $204,374,000) | 205,582 | 100.0 | ||||||||||
| Other assets less liabilities | (110 | ) | — | |||||||||
| Net assets | $ | 205,472 | 100.0 | % | ||||||||
See Notes to Financial Statements
| American Funds Portfolio Series | 11 |
Statements of assets and liabilities at April 30, 2013
| Global Growth Portfolio | Growth Portfolio | Growth and Income Portfolio | ||||||||||
| Assets: | ||||||||||||
| Investment securities, at value | $ | 309,563 | $ | 518,814 | $ | 1,153,491 | ||||||
| Receivables for: | ||||||||||||
| Sales of fund’s shares | 1,925 | 2,341 | 4,325 | |||||||||
| Dividends | — | — | — | |||||||||
| Total assets | 311,488 | 521,155 | 1,157,816 | |||||||||
| Liabilities: | ||||||||||||
| Payables for: | ||||||||||||
| Purchases of investments | 1,593 | 2,056 | 4,035 | |||||||||
| Repurchases of fund’s shares | 326 | 252 | 316 | |||||||||
| Services provided by related parties | 83 | 146 | 327 | |||||||||
| Trustees’ deferred compensation | — | * | — | * | — | * | ||||||
| Other | 4 | 7 | 11 | |||||||||
| Total liabilities | 2,006 | 2,461 | 4,689 | |||||||||
| Net assets at April 30, 2013 | $ | 309,482 | $ | 518,694 | $ | 1,153,127 | ||||||
| Net assets consist of: | ||||||||||||
| Capital paid in on shares of beneficial interest | $ | 281,159 | $ | 469,903 | $ | 1,064,722 | ||||||
| (Distributions in excess of) undistributed net investment income | (63 | ) | (260 | ) | (886 | ) | ||||||
| Undistributed (accumulated) net realized gain (loss) | 678 | (186 | ) | 2,581 | ||||||||
| Distributions in excess of net realized gain | — | — | — | |||||||||
| Net unrealized appreciation | 27,708 | 49,237 | 86,710 | |||||||||
| Net assets at April 30, 2013 | $ | 309,482 | $ | 518,694 | $ | 1,153,127 | ||||||
| Investment securities, at cost | $ | 281,855 | $ | 469,577 | $ | 1,066,781 | ||||||
*Amount less than one thousand.
See Notes to Financial Statements
| 12 | American Funds Portfolio Series |
unaudited
(dollars in thousands)
| Balanced Portfolio | Income Portfolio | Tax-Advantaged Income Portfolio | Preservation Portfolio | Tax-Exempt Preservation Portfolio | ||||||||||||||
| $ | 952,000 | $ | 996,142 | $ | 191,669 | $ | 455,971 | $ | 205,582 | |||||||||
| 3,642 | 5,041 | 1,199 | 2,346 | 1,659 | ||||||||||||||
| 63 | 163 | 293 | 191 | 485 | ||||||||||||||
| 955,705 | 1,001,346 | 193,161 | 458,508 | 207,726 | ||||||||||||||
| 3,133 | 4,628 | 1,341 | 1,835 | 1,849 | ||||||||||||||
| 420 | 407 | 151 | 646 | 345 | ||||||||||||||
| 302 | 344 | 35 | 183 | 59 | ||||||||||||||
| — | * | — | * | — | * | — | * | — | * | |||||||||
| 9 | 5 | 1 | 5 | 1 | ||||||||||||||
| 3,864 | 5,384 | 1,528 | 2,669 | 2,254 | ||||||||||||||
| $ | 951,841 | $ | 995,962 | $ | 191,633 | $ | 455,839 | $ | 205,472 | |||||||||
| $ | 885,390 | $ | 939,374 | $ | 179,046 | $ | 455,505 | $ | 204,240 | |||||||||
| 13 | (806 | ) | 210 | 22 | 53 | |||||||||||||
| (102 | ) | 2,770 | — | (27 | ) | (29 | ) | |||||||||||
| — | — | (67 | ) | — | — | |||||||||||||
| 66,540 | 54,624 | 12,444 | 339 | 1,208 | ||||||||||||||
| $ | 951,841 | $ | 995,962 | $ | 191,633 | $ | 455,839 | $ | 205,472 | |||||||||
| $ | 885,460 | $ | 941,518 | $ | 179,225 | $ | 455,632 | $ | 204,374 | |||||||||
| American Funds Portfolio Series | 13 |
Statements of assets and liabilities at April 30, 2013 (continued)
| Global Growth Portfolio | Growth Portfolio | Growth and Income Portfolio | ||||||||||||
| Shares of beneficial interest issued and outstanding (no stated par value) — unlimited shares authorized | ||||||||||||||
| Class A: | Net assets | $ | 193,702 | $ | 331,909 | $ | 826,573 | |||||||
| Shares outstanding | 15,392 | 26,568 | 69,203 | |||||||||||
| Net asset value per share | $ | 12.58 | $ | 12.49 | $ | 11.94 | ||||||||
| Class B: | Net assets | $ | 1,172 | $ | 3,176 | $ | 7,354 | |||||||
| Shares outstanding | 94 | 255 | 617 | |||||||||||
| Net asset value per share | $ | 12.53 | $ | 12.43 | $ | 11.92 | ||||||||
| Class C: | Net assets | $ | 31,801 | $ | 52,733 | $ | 123,912 | |||||||
| Shares outstanding | 2,541 | 4,243 | 10,406 | |||||||||||
| Net asset value per share | $ | 12.51 | $ | 12.43 | $ | 11.91 | ||||||||
| Class F-1: | Net assets | $ | 12,738 | $ | 9,492 | $ | 15,595 | |||||||
| Shares outstanding | 1,012 | 760 | 1,305 | |||||||||||
| Net asset value per share | $ | 12.59 | $ | 12.49 | $ | 11.95 | ||||||||
| Class F-2: | Net assets | $ | 9,363 | $ | 17,903 | $ | 14,588 | |||||||
| Shares outstanding | 743 | 1,431 | 1,220 | |||||||||||
| Net asset value per share | $ | 12.60 | $ | 12.51 | $ | 11.95 | ||||||||
| Class 529-A: | Net assets | $ | 27,133 | $ | 52,022 | $ | 84,331 | |||||||
| Shares outstanding | 2,157 | 4,165 | 7,062 | |||||||||||
| Net asset value per share | $ | 12.58 | $ | 12.49 | $ | 11.94 | ||||||||
| Class 529-B: | Net assets | $ | 353 | $ | 620 | $ | 1,060 | |||||||
| Shares outstanding | 28 | 50 | 89 | |||||||||||
| Net asset value per share | $ | 12.53 | $ | 12.44 | $ | 11.92 | ||||||||
| Class 529-C: | Net assets | $ | 8,621 | $ | 19,986 | $ | 37,084 | |||||||
| Shares outstanding | 689 | 1,609 | 3,115 | |||||||||||
| Net asset value per share | $ | 12.51 | $ | 12.42 | $ | 11.91 | ||||||||
| Class 529-E: | Net assets | $ | 599 | $ | 2,328 | $ | 3,669 | |||||||
| Shares outstanding | 48 | 187 | 308 | |||||||||||
| Net asset value per share | $ | 12.57 | $ | 12.46 | $ | 11.93 | ||||||||
| Class 529-F-1: | Net assets | $ | 851 | $ | 2,084 | $ | 3,627 | |||||||
| Shares outstanding | 68 | 167 | 303 | |||||||||||
| Net asset value per share | $ | 12.59 | $ | 12.50 | $ | 11.95 | ||||||||
| Class R-1: | Net assets | $ | 299 | $ | 1,535 | $ | 2,804 | |||||||
| Shares outstanding | 24 | 123 | 236 | |||||||||||
| Net asset value per share | $ | 12.53 | $ | 12.44 | $ | 11.91 | ||||||||
| Class R-2: | Net assets | $ | 2,904 | $ | 5,603 | $ | 8,600 | |||||||
| Shares outstanding | 232 | 450 | 722 | |||||||||||
| Net asset value per share | $ | 12.52 | $ | 12.44 | $ | 11.91 | ||||||||
| Class R-3: | Net assets | $ | 3,709 | $ | 5,964 | $ | 7,856 | |||||||
| Shares outstanding | 295 | 478 | 659 | |||||||||||
| Net asset value per share | $ | 12.56 | $ | 12.48 | $ | 11.92 | ||||||||
| Class R-4: | Net assets | $ | 913 | $ | 1,002 | $ | 968 | |||||||
| Shares outstanding | 72 | 80 | 81 | |||||||||||
| Net asset value per share | $ | 12.59 | $ | 12.49 | $ | 11.95 | ||||||||
| Class R-5: | Net assets | $ | 14,009 | $ | 11,706 | $ | 14,829 | |||||||
| Shares outstanding | 1,111 | 935 | 1,240 | |||||||||||
| Net asset value per share | $ | 12.61 | $ | 12.52 | $ | 11.96 | ||||||||
| Class R-6: | Net assets | $ | 1,315 | $ | 631 | $ | 277 | |||||||
| Shares outstanding | 104 | 50 | 23 | |||||||||||
| Net asset value per share | $ | 12.66 | $ | 12.52 | $ | 11.95 | ||||||||
See Notes to Financial Statements
| 14 | American Funds Portfolio Series |
unaudited
(dollars and shares in thousands, except per-share amounts)
| Balanced Portfolio | Income Portfolio | Tax-Advantaged Income Portfolio | Preservation Portfolio | Tax-Exempt Preservation Portfolio | ||||||||||||||
| $ | 640,545 | $ | 718,223 | $ | 162,782 | $ | 316,087 | $ | 136,549 | |||||||||
| 54,468 | 63,803 | 14,247 | 31,403 | 13,449 | ||||||||||||||
| $ | 11.76 | $ | 11.26 | $ | 11.43 | $ | 10.07 | $ | 10.15 | |||||||||
| $ | 5,356 | $ | 4,552 | $ | 191 | $ | 2,542 | $ | 142 | |||||||||
| 456 | 405 | 17 | 253 | 14 | ||||||||||||||
| $ | 11.74 | $ | 11.23 | $ | 11.41 | $ | 10.06 | $ | 10.16 | |||||||||
| $ | 115,258 | $ | 142,698 | $ | 17,293 | $ | 58,799 | $ | 42,655 | |||||||||
| 9,830 | 12,713 | 1,518 | 5,847 | 4,206 | ||||||||||||||
| $ | 11.73 | $ | 11.22 | $ | 11.39 | $ | 10.06 | $ | 10.14 | |||||||||
| $ | 23,564 | $ | 29,879 | $ | 7,666 | $ | 8,262 | $ | 10,744 | |||||||||
| 2,004 | 2,653 | 671 | 821 | 1,058 | ||||||||||||||
| $ | 11.76 | $ | 11.26 | $ | 11.42 | $ | 10.07 | $ | 10.15 | |||||||||
| $ | 17,502 | $ | 21,826 | $ | 3,701 | $ | 6,056 | $ | 15,382 | |||||||||
| 1,487 | 1,937 | 324 | 602 | 1,515 | ||||||||||||||
| $ | 11.77 | $ | 11.27 | $ | 11.43 | $ | 10.07 | $ | 10.15 | |||||||||
| $ | 65,355 | $ | 28,594 | $ | 29,878 | |||||||||||||
| 5,558 | 2,541 | 2,969 | ||||||||||||||||
| $ | 11.76 | $ | 11.25 | $ | 10.06 | |||||||||||||
| $ | 859 | $ | 549 | $ | 576 | |||||||||||||
| 73 | 49 | 57 | ||||||||||||||||
| $ | 11.74 | $ | 11.24 | $ | 10.07 | |||||||||||||
| $ | 29,241 | $ | 21,559 | $ | 15,505 | |||||||||||||
| 2,493 | 1,921 | 1,541 | ||||||||||||||||
| $ | 11.73 | $ | 11.22 | $ | 10.06 | |||||||||||||
| $ | 2,315 | $ | 2,366 | $ | 2,335 | |||||||||||||
| 197 | 210 | 232 | ||||||||||||||||
| $ | 11.75 | $ | 11.25 | $ | 10.06 | |||||||||||||
| $ | 2,754 | $ | 1,719 | $ | 1,581 | |||||||||||||
| 234 | 153 | 157 | ||||||||||||||||
| $ | 11.77 | $ | 11.26 | $ | 10.06 | |||||||||||||
| $ | 3,460 | $ | 456 | $ | 737 | |||||||||||||
| 295 | 41 | 73 | ||||||||||||||||
| $ | 11.73 | $ | 11.23 | $ | 10.06 | |||||||||||||
| $ | 9,167 | $ | 5,835 | $ | 4,977 | |||||||||||||
| 781 | 519 | 495 | ||||||||||||||||
| $ | 11.73 | $ | 11.23 | $ | 10.05 | |||||||||||||
| $ | 12,891 | $ | 5,789 | $ | 3,202 | |||||||||||||
| 1,097 | 515 | 318 | ||||||||||||||||
| $ | 11.75 | $ | 11.25 | $ | 10.06 | |||||||||||||
| $ | 6,642 | $ | 5,487 | $ | 1,249 | |||||||||||||
| 565 | 487 | 124 | ||||||||||||||||
| $ | 11.76 | $ | 11.26 | $ | 10.07 | |||||||||||||
| $ | 8,662 | $ | 6,284 | $ | 3,623 | |||||||||||||
| 736 | 558 | 360 | ||||||||||||||||
| $ | 11.77 | $ | 11.27 | $ | 10.07 | |||||||||||||
| $ | 8,270 | $ | 146 | $ | 430 | |||||||||||||
| 703 | 13 | 43 | ||||||||||||||||
| $ | 11.77 | $ | 11.27 | $ | 10.07 | |||||||||||||
| American Funds Portfolio Series | 15 |
Statements of operations for the six months ended April 30, 2013
| Global Growth | Growth | Growth and Income | ||||||||||
| Portfolio | Portfolio | Portfolio | ||||||||||
| Investment income: | ||||||||||||
| Dividends | $ | 1,919 | $ | 2,852 | $ | 11,237 | ||||||
| Fees and expenses*: | ||||||||||||
| Investment advisory services | 92 | 161 | 373 | |||||||||
| Distribution services | 309 | 557 | 1,338 | |||||||||
| Transfer agent services | 89 | 159 | 370 | |||||||||
| Reports to shareholders | 2 | 4 | 10 | |||||||||
| Registration statement and prospectus | 132 | 147 | 194 | |||||||||
| Trustees’ compensation | 1 | 1 | 2 | |||||||||
| Auditing and legal | — | † | 1 | 1 | ||||||||
| Custodian | 13 | 13 | 13 | |||||||||
| State and local taxes | — | — | — | |||||||||
| Other | 13 | 28 | 50 | |||||||||
| Total fees and expenses before reimbursements/waivers | 651 | 1,071 | 2,351 | |||||||||
| Less reimbursements/waivers of fees and expenses: | ||||||||||||
| Investment advisory services | 92 | 161 | 373 | |||||||||
| Other | — | — | — | |||||||||
| Total fees and expenses before reimbursements/waivers | 559 | 910 | 1,978 | |||||||||
| Net investment income | 1,360 | 1,942 | 9,259 | |||||||||
| Net realized gain (loss) and unrealized appreciation on investments: | ||||||||||||
| Net realized gain (loss) on sale of investments | — | — | † | — | ||||||||
| Capital gain distributions received | 785 | — | 2,674 | |||||||||
| Net realized gain (loss) | 785 | — | † | 2,674 | ||||||||
| Net unrealized appreciation (depreciation) on investments | 22,266 | 42,020 | 76,554 | |||||||||
| Net realized gain (loss) and unrealized appreciation on investments | 23,051 | 42,020 | 79,228 | |||||||||
| Net increase in net assets resulting from operations | $ | 24,411 | $ | 43,962 | $ | 88,487 | ||||||
| * | Additional information related to class-specific fees and expenses is included in the Notes to Financial Statements. |
| † | Amount less than one thousand. |
See Notes to Financial Statements
| 16 | American Funds Portfolio Series |
unaudited
(dollars in thousands)
| Balanced | Income | Tax-Advantaged Income | Preservation | Tax-Exempt Preservation | ||||||||||||||
| Portfolio | Portfolio | Portfolio | Portfolio | Portfolio | ||||||||||||||
| $ | 7,527 | $ | 13,609 | $ | 2,180 | $ | 2,916 | $ | 2,499 | |||||||||
| 313 | 345 | 66 | 185 | 84 | ||||||||||||||
| 1,211 | 1,402 | 234 | 757 | 346 | ||||||||||||||
| 317 | 351 | 64 | 195 | 85 | ||||||||||||||
| 7 | 8 | 2 | 5 | 2 | ||||||||||||||
| 191 | 213 | 76 | 163 | 81 | ||||||||||||||
| 2 | 2 | — | † | 1 | 1 | |||||||||||||
| 1 | 1 | — | † | 1 | — | † | ||||||||||||
| 13 | 13 | 13 | 13 | 13 | ||||||||||||||
| — | — | — | — | 7 | ||||||||||||||
| 42 | 25 | 1 | 23 | 2 | ||||||||||||||
| 2,097 | 2,360 | 456 | 1,343 | 621 | ||||||||||||||
| 313 | 345 | 66 | 185 | 84 | ||||||||||||||
| — | — | — | 76 | 55 | ||||||||||||||
| 1,784 | 2,015 | 390 | 1,082 | 482 | ||||||||||||||
| 5,743 | 11,594 | 1,790 | 1,834 | 2,017 | ||||||||||||||
| (6 | ) | — | (2 | ) | (25 | ) | (40 | ) | ||||||||||
| — | 2,826 | — | — | 18 | ||||||||||||||
| (6 | ) | 2,826 | (2 | ) | (25 | ) | (22 | ) | ||||||||||
| 57,848 | 48,724 | 9,703 | (230 | ) | 493 | |||||||||||||
| 57,842 | 51,550 | 9,701 | (255 | ) | 471 | |||||||||||||
| $ | 63,585 | $ | 63,144 | $ | 11,491 | $ | 1,579 | $ | 2,488 | |||||||||
| American Funds Portfolio Series | 17 |
Statements of changes in net assets
| Global Growth | Growth | Growth and Income | ||||||||||||||||||||||
| Portfolio | Portfolio | Portfolio | ||||||||||||||||||||||
| Six months ended April 30, 20131 | Period ended October 31, 20122 | Six months ended April 30, 20131 | Period ended October 31, 20122 | Six months ended April 30, 20131 | Period ended October 31, 20122 | |||||||||||||||||||
| Operations: | ||||||||||||||||||||||||
| Net investment income | $ | 1,360 | $ | 146 | $ | 1,942 | $ | 99 | $ | 9,259 | $ | 1,734 | ||||||||||||
| Net realized gain (loss) | 785 | (7 | ) | — | 3 | (186 | ) | 2,674 | (93 | ) | ||||||||||||||
| Net unrealized appreciation (depreciation) on investments | 22,266 | 5,442 | 42,020 | 7,217 | 76,554 | 10,156 | ||||||||||||||||||
| Net increase in net assets resulting from operations | 24,411 | 5,581 | 43,962 | 7,130 | 88,487 | 11,797 | ||||||||||||||||||
| Dividends and distributions paid to shareholders: | ||||||||||||||||||||||||
| Dividends from net investment income | (1,568 | ) | — | (2,296 | ) | — | (10,570 | ) | (1,305 | ) | ||||||||||||||
| Distributions from net realized gain on investments | (57 | ) | — | — | — | — | — | |||||||||||||||||
| Total dividends and distributions paid to shareholders | (1,625 | ) | — | (2,296 | ) | — | (10,570 | ) | (1,305 | ) | ||||||||||||||
| Net capital share transactions | 199,020 | 82,095 | 305,403 | 164,495 | 652,282 | 412,436 | ||||||||||||||||||
| Total increase in net assets | 221,806 | 87,676 | 347,069 | 171,625 | 730,199 | 422,928 | ||||||||||||||||||
| Net assets: | ||||||||||||||||||||||||
| Beginning of period | 87,676 | — | 171,625 | — | 422,928 | — | ||||||||||||||||||
| End of period | $ | 309,482 | $ | 87,676 | $ | 518,694 | $ | 171,625 | $ | 1,153,127 | $ | 422,928 | ||||||||||||
| (Distributions in excess of) undistributed net investment income | $ | (63 | ) | $ | 145 | $ | (260 | ) | $ | 94 | $ | (886 | ) | $ | 425 | |||||||||
| 1 | Unaudited. |
| 2 | For the period May 18, 2012, commencement of operations, through October 31, 2012. |
| 3 | Amount less than one thousand. |
See Notes to Financial Statements
| 18 | American Funds Portfolio Series |
unaudited
(dollars in thousands)
| Balanced | Income | Tax-Advantaged Income | Preservation | Tax-Exempt Preservation | ||||||||||||||||||||||||||||||||||
| Portfolio | Portfolio | Portfolio | Portfolio | Portfolio | ||||||||||||||||||||||||||||||||||
| Six months ended April 30, 20131 | Period ended October 31, 20122 | Six months ended April 30, 20131 | Period ended October 31, 20122 | Six months 20131 | Period ended October 31, 20122 | Six months ended April 30, 20131 | Period ended October 31, 20122 | Six months ended April 30, 20131 | Period ended October 31, 20122 | |||||||||||||||||||||||||||||
| $ | 5,743 | $ | 1,215 | $ | 11,594 | $ | 3,073 | $ | 1,790 | $ | 759 | $ | 1,834 | $ | 643 | $ | 2,017 | $ | 775 | |||||||||||||||||||
| (6 | ) | (96 | ) | 2,826 | (55 | ) | (2 | ) | 16 | (25 | ) | 1 | (22 | ) | 38 | |||||||||||||||||||||||
| 57,848 | 8,692 | 48,724 | 5,900 | 9,703 | 2,741 | (230 | ) | 569 | 493 | 715 | ||||||||||||||||||||||||||||
| 63,585 | 9,811 | 63,144 | 8,918 | 11,491 | 3,516 | 1,579 | 1,213 | 2,488 | 1,528 | |||||||||||||||||||||||||||||
| (6,037 | ) | (902 | ) | (13,165 | ) | (2,309 | ) | (1,757 | ) | (582 | ) | (1,898 | ) | (560 | ) | (2,020 | ) | (718 | ) | |||||||||||||||||||
| — | — | — | — | (51 | ) | — | — | — | — | — | ||||||||||||||||||||||||||||
| (6,037 | ) | (902 | ) | (13,165 | ) | (2,309 | ) | (1,808 | ) | (582 | ) | (1,898 | ) | (560 | ) | (2,020 | ) | (718 | ) | |||||||||||||||||||
| 535,465 | 349,919 | 518,059 | 421,315 | 103,824 | 75,192 | 215,290 | 240,215 | 90,227 | 113,967 | |||||||||||||||||||||||||||||
| 593,013 | 358,828 | 568,038 | 427,924 | 113,507 | 78,126 | 214,971 | 240,868 | 90,695 | 114,777 | |||||||||||||||||||||||||||||
| 358,828 | — | 427,924 | — | 78,126 | — | 240,868 | — | 114,777 | — | |||||||||||||||||||||||||||||
| $ | 951,841 | $ | 358,828 | $ | 995,962 | $ | 427,924 | $ | 191,633 | $ | 78,126 | $ | 455,839 | $ | 240,868 | $ | 205,472 | $ | 114,777 | |||||||||||||||||||
| $ | 13 | $ | 307 | $ | (806 | ) | $ | 765 | $ | 210 | $ | 177 | $ | 22 | $ | 86 | $ | 53 | $ | 56 | ||||||||||||||||||
| American Funds Portfolio Series | 19 |
| Notes to financial statements | unaudited |
1. Organization
American Funds Portfolio Series (the “series”) is registered under the Investment Company Act of 1940 as an open-end, diversified management investment company. The series consists of eight funds (the “funds”). The assets of each fund are segregated, with each fund accounted for separately. The funds’ investment objectives are as follows:
| American Funds Global Growth Portfolio | Seeks long-term growth of capital. | |
| American Funds Growth Portfolio | Seeks long-term growth of capital. | |
| American Funds Growth and Income Portfolio | Seeks long-term growth of capital while providing current income. | |
| American Funds Balanced Portfolio | Seeks current income and long-term growth of capital and income. | |
| American Funds Income Portfolio | Seeks current income and, secondarily, long-term growth of capital. | |
| American Funds Tax-Advantaged Income Portfolio | Seeks current income, a portion of which is exempt from regular federal income tax, while secondarily striving for long-term growth of capital. | |
| American Funds Preservation Portfolio | Seeks current income, consistent with the preservation of capital. | |
| American Funds Tax-Exempt Preservation Portfolio | Seeks current income that is exempt from regular federal income tax, consistent with preservation of capital. |
Each fund will attempt to achieve its investment objectives by investing in a mix of American Funds (the “underlying funds”) in different combinations and weightings. Capital Research and Management Company (“CRMC”), the series’ investment adviser, is also the investment adviser of the underlying funds.
The Global Growth Portfolio, Growth Portfolio, Growth and Income Portfolio, Balanced Portfolio, Income Portfolio and Preservation Portfolio each have 16 share classes consisting of five retail share classes (Classes A, B and C, as well as two F share classes, F-1 and F-2), five 529 college savings plan share classes (Classes 529-A, 529-B, 529-C, 529-E and 529-F-1) and six retirement plan share classes (Classes R-1, R-2, R-3, R-4, R-5 and R-6). The 529 college savings plan share classes can be used to save for college education. The retirement plan share classes are generally offered only through eligible employer-sponsored retirement plans. The Tax-Advantaged Income Portfolio and Tax-Exempt Preservation Portfolio each have five retail share classes (Classes A, B and C, as well as two F share classes, F-1 and F-2). The funds’ share classes are further described below:
| Share class | Initial sales charge | Contingent deferred sales charge upon redemption | Conversion feature | |||
| Classes A and 529-A | Up to 2.50% for Preservation Portfolio and Tax-Exempt Preservation Portfolio; up to 3.75% for Tax-Advantaged Income Portfolio; up to 5.75% for all other funds | 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 | |||
| * Class B and 529-B shares of the funds are not available for purchase. | ||||||
Holders of all share classes have equal pro rata rights to assets, dividends and liquidation proceeds. Each share class has identical voting rights, except for the exclusive right to vote on matters affecting only its class. Share classes have different fees and expenses (“class-specific fees and expenses”), primarily due to different arrangements for distribution, administrative and shareholder services. Differences in class-specific fees and expenses will result in differences in net investment income and, therefore, the payment of different per-share dividends by each class.
| 20 | American Funds Portfolio Series |
2. Significant accounting policies
The financial statements have been prepared to comply with accounting principles generally accepted in the United States of America. These principles require management to make estimates and assumptions that affect reported amounts and disclosures. Actual results could differ from those estimates. The funds follow the significant accounting policies described below, as well as the valuation policies described in the next section on valuation.
Security transactions and related investment income — Security transactions are recorded by the funds as of the date the trades are executed. Realized gains and losses from security transactions are determined based on the specific identified cost of the securities. Dividend income is recognized on the ex-dividend date and interest income is recognized on an accrual basis.
Fees and expenses — The fees and expenses of the underlying funds are not included in the fees and expenses reported for each of the funds; however, they are indirectly reflected in the valuation of each of the underlying funds. These fees are included in the net effective expense ratios that are provided as supplementary information in the Financial Highlights table on pages 38 to 45.
Class allocations — Income, fees and expenses (other than class-specific fees and expenses) and realized and unrealized gains and losses are allocated daily among the various share classes based on their relative net assets. Class-specific fees and expenses, such as distribution, administrative and shareholder services, are charged directly to the respective share class.
Dividends and distributions to shareholders — Dividends and distributions paid to shareholders are recorded on the ex-dividend date.
3. Valuation
Security valuation — The value of each underlying fund is calculated based on the policies and procedures of the underlying fund contained in each underlying fund’s statement of additional information. Generally, the funds and the underlying funds determine the net asset value of each share class as of approximately 4:00 p.m. New York time each day the New York Stock Exchange is open.
Processes and structure — The series’ board of trustees has delegated authority to the funds’ investment adviser to make fair value determinations, subject to board oversight. The investment adviser has established a Joint Fair Valuation Committee (the “Fair Valuation Committee”) to administer, implement and oversee the fair valuation process, and to make fair value decisions. The Fair Valuation Committee regularly reviews its own fair value decisions, as well as decisions made under its standing instructions to the investment adviser’s valuation teams. The Fair Valuation Committee reviews changes in fair value measurements from period to period and may, as deemed appropriate, update the fair valuation guidelines to better reflect the results of back testing and address new or evolving issues. The Fair Valuation Committee reports any changes to the fair valuation guidelines to the board of trustees with supplemental information to support the changes. The series’ board and audit committee also regularly review reports that describe fair value determinations and methods. Pricing decisions, processes and controls over security valuation are also subject to additional internal reviews, including an annual control self-evaluation program facilitated by the investment adviser’s compliance group.
Classifications — The series’ investment adviser classifies each fund’s assets and liabilities into three levels based on the method used to value the assets or liabilities. Level 1 values are based on quoted prices in active markets for identical securities. Level 2 values are based on significant observable market inputs, such as quoted prices for similar securities and quoted prices in inactive markets. Level 3 values are based on significant unobservable inputs that reflect the investment adviser’s determination of assumptions that market participants might reasonably use in valuing the securities. The valuation levels are not necessarily an indication of the risk or liquidity associated with the underlying investment. At April 30, 2013, all of the investment securities for each fund were classified as Level 1.
4. Risk factors
Investing in the funds may involve certain risks including, but not limited to, those described below.
Allocation risk — Investments in the funds are subject to risks related to the investment adviser’s allocation choices. The selection of the underlying funds and the allocation of the funds’ assets could cause the funds to lose value or their results to lag relevant benchmarks or other funds with similar objectives.
| American Funds Portfolio Series | 21 |
Fund structure — The fund invests in underlying funds and incurs expenses related to the underlying funds. In addition, investors in the funds will incur fees to pay for certain expenses related to the operations of the funds. An investor holding the underlying funds directly and in the same proportions as the funds would incur lower overall expenses but would not receive the benefit of the portfolio management and other services provided by the fund.
Because the funds’ investments consist of underlying funds, the funds’ risks are directly related to the risks of the underlying funds. For this reason, it is important to understand the risks associated with investing in the underlying funds.
Market conditions — The prices of, and the income generated by, the common stocks, bonds and other securities held by the underlying funds may decline due to market conditions and other factors, including those directly involving the issuers of securities held by the underlying funds.
Investing in stocks — Investing in stocks may involve larger price swings and greater potential for loss than other types of investments. As a result, the value of the underlying funds may be subject to sharp, short-term declines in value. Income provided by an underlying fund may be reduced by changes in the dividend policies of, and the capital resources available at, the companies in which the underlying fund invests.
Investing in growth-oriented stocks — Growth-oriented stocks may involve larger price swings and greater potential for loss than other types of investments.
Investing in income-oriented stocks — Income provided by an underlying fund may be reduced by changes in the dividend policies of, and the capital resources available at, the companies in which the underlying fund invests.
Investing in bonds — Rising interest rates will generally cause the prices of bonds and other debt securities to fall. Longer maturity debt securities may be subject to greater price fluctuations than shorter maturity debt securities. In addition, falling interest rates may cause an issuer to redeem, call or refinance a security before its stated maturity, which may result in the underlying funds having to reinvest the proceeds in lower yielding securities.
Bonds and other debt securities are subject to credit risk, which is the possibility that the credit strength of an issuer will weaken and/or an issuer of a debt security will fail to make timely payments of principal or interest and the security will go into default. Credit risk is gauged, in part, by the credit ratings of the securities in which the underlying fund invests. However, ratings are only the opinions of the rating agencies issuing them and are not guarantees as to credit quality or an evaluation of market risk.
Investing in lower rated bonds — Lower rated bonds and other lower rated debt securities generally have higher rates of interest and involve greater risk of default or price declines due to changes in the issuer’s creditworthiness than those of higher quality debt securities. The market prices of these securities may fluctuate more than the prices of higher quality debt securities and may decline significantly in periods of general economic difficulty. These risks may be increased with respect to investments in bonds rated Ba1 or BB+ or below by Nationally Recognized Statistical Rating Organizations or unrated but determined by the underlying fund’s investment adviser to be of equivalent quality. Such securities are considered speculative and are sometimes referred to as “junk bonds.” The value of the underlying funds may be similarly affected.
Investing in small companies — Investing in smaller companies may pose additional risks. For example, it is often more difficult to value or dispose of small company stocks and more difficult to obtain information about smaller companies than about larger companies. In addition, the prices of these stocks may be more volatile than stocks of larger, more established companies.
Investing outside the U.S. — Securities of issuers domiciled outside the U.S., or with significant operations outside the U.S., may lose value because of adverse political, social, economic or market developments in the countries or regions in which the issuer operates. These securities may also lose value due to changes in foreign currency exchange rates against the U.S. dollar and/or currencies of other countries. Securities markets in certain countries may be more volatile and/or less liquid than those in the U.S. Investments outside the U.S. may also be subject to different settlement and accounting practices and different regulatory, legal and reporting standards, and may be more difficult to value, than those in the U.S. The risks of investing outside the U.S. may be heightened in connection with investments in emerging markets.
| 22 | American Funds Portfolio Series |
Investing in emerging markets — Investing in emerging markets may involve risks in addition to and greater than those generally associated with investing in developed countries. For instance, developing countries may have less developed legal and accounting systems than those in developed countries. The governments of these countries may be less stable and more likely to impose capital controls, nationalize a company or industry, place restrictions on foreign ownership and on withdrawing sale proceeds of securities from the country, and/or impose punitive taxes that could adversely affect the prices of securities. In addition, the economies of these countries may be dependent on relatively few industries that are more susceptible to local and global changes. Securities markets in these countries can also be relatively small and have substantially lower trading volumes. As a result, securities issued in these countries may be more volatile and less liquid, and may be more difficult to value, than securities issued in countries with more developed economies and/or markets. Additionally, there may be increased settlement risks for transactions in local securities.
Investing in U.S. government securities — Securities backed by the U.S. Treasury or the full faith and credit of the U.S. government are guaranteed only as to the timely payment of interest and principal when held to maturity. Accordingly, the current market values for these securities will fluctuate with changes in interest rates. Securities issued by government-sponsored entities and federal agencies and instrumentalities that are not backed by the full faith and credit of the U.S. government are neither issued nor guaranteed by the U.S. government.
Investing in mortgage-backed and asset-backed securities — Many types of bonds and other debt securities, including mortgage-backed securities, are subject to prepayment risk as well as the risks associated with investing in debt securities in general. If interest rates fall and the loans underlying these securities are prepaid faster than expected, the underlying funds may have to reinvest the prepaid principal in lower yielding securities, thus reducing the fund’s income. Conversely, if interest rates increase and the loans underlying the securities are prepaid more slowly than expected, the expected duration of the securities may be extended, reducing the cash flow for potential reinvestment in higher yielding securities.
Thinly traded securities — There may be little trading in the secondary market for particular bonds or other debt securities, which may make them more difficult to value, acquire or sell.
Credit and liquidity support — Changes in the credit quality of banks and financial institutions providing credit and liquidity support features with respect to securities held by the underlying fund could cause the values of these securities to decline.
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Investing in similar municipal bonds — Investing significantly in municipal obligations of issuers in the same state or backed by revenues of similar types of projects or industries may make an underlying fund more susceptible to certain economic, political or regulatory occurrences. As a result, the potential for fluctuations in the underlying fund’s share price may increase.
Investing in future delivery contracts — An underlying fund may enter into contracts, such as to be announced contracts and mortgage dollar rolls, that involve an underlying fund selling mortgage-related securities and simultaneously contracting to repurchase similar securities for delivery at a future date at a predetermined price. This can increase the underlying fund’s market exposure, and the market price of the securities that the underlying fund contracts to repurchase could drop below their purchase price. While an underlying fund can preserve and generate capital through the use of such contracts by, for example, realizing the difference between the sale price and the future purchase price, the income generated by the underlying fund may be reduced by engaging in such transactions. In addition, these transactions may increase the turnover rate of the underlying fund.
Cash position and temporary investments — An underlying fund may also hold cash or money market instruments. The percentage of an underlying fund invested in such holdings varies and depends on various factors, including market conditions and purchases and redemptions of fund shares. For temporary defensive purposes, an underlying fund may hold all, or a significant portion, of its assets in cash, money market instruments or other securities that may be deemed appropriate by the funds’ investment adviser. The investment adviser may determine that it is appropriate to take such action in response to certain circumstances, such as periods of market turmoil. A larger amount of such holdings could negatively affect a fund’s investment results in a period of rising market prices. A larger percentage of cash or money market instruments could reduce a fund’s magnitude of loss in the event of falling market prices and provide liquidity to make additional investments or to meet redemptions.
Management — The investment adviser to the fund and to the underlying funds actively manages the funds’ investments. Consequently, the underlying funds are subject to the risk that the methods and analyses employed by the investment adviser in this process may not produce the desired results. This could cause an underlying fund to lose value or its investment results to lag relevant benchmarks or other funds with similar objectives.
| American Funds Portfolio Series | 23 |
5. Taxation and distributions
Federal income taxation — Each fund complies with the requirements under Subchapter M of the Internal Revenue Code applicable to mutual funds and each intends to distribute substantially all of its net income and net capital gains each year. The funds are not subject to income taxes to the extent taxable income and net capital gains are distributed.
As of and during the period ended April 30, 2013, none of the funds had a liability for any unrecognized tax benefits. Each fund recognizes interest and penalties, if any, related to unrecognized tax benefits as income tax expense in the statements of operations. During the period, none of the funds incurred any interest or penalties.
The series is not subject to examination by U.S. federal and state tax authorities for tax years before 2012, the year the series commenced operations.
Distributions — Distributions paid to shareholders are based on net investment income and net realized gains determined on a tax basis, which may differ from net investment income and net realized gains for financial reporting purposes. These differences are due primarily to different treatment for items such as short-term capital gains and losses; capital losses related to sales of certain securities within 30 days of purchase; deferred expenses; and net capital losses. The fiscal year in which amounts are distributed may differ from the year in which the net investment income and net realized gains are recorded by the funds for financial reporting purposes.
The components of distributable earnings on a tax basis are reported as of the funds’ most recent year-end. As of October 31, 2012, the components of distributable earnings on a tax basis were as follows (dollars in thousands):
| Global Growth Portfolio | Growth Portfolio | Growth and Income Portfolio | Balanced Portfolio | Income Portfolio | Tax- Advantaged Income Portfolio | Preservation Portfolio | Tax-Exempt Preservation Portfolio | |||||||||||||||||||||||||
| Undistributed ordinary income | $ | 199 | $ | 98 | $ | 425 | $ | 307 | $ | 765 | $ | 124 | $ | 86 | $ | — | ||||||||||||||||
| Undistributed tax-exempt income | — | — | — | — | — | 101 | — | 56 | ||||||||||||||||||||||||
| Capital loss carryforward | — | — | (1 | ) | — | — | — | — | — | |||||||||||||||||||||||
As of April 30, 2013, the tax basis unrealized appreciation (depreciation) and cost of investment securities were as follows (dollars in thousands):
| Global Growth Portfolio | Growth Portfolio | Growth and Income Portfolio | Balanced Portfolio | Income Portfolio | Tax- Advantaged Income Portfolio | Preservation Portfolio | Tax-Exempt Preservation Portfolio | |||||||||||||||||||||||||
| Gross unrealized appreciation on investment securities | $ | 27,603 | $ | 49,046 | $ | 87,008 | $ | 66,439 | $ | 57,315 | $ | 12,380 | $ | 508 | $ | 1,162 | ||||||||||||||||
| Gross unrealized depreciation on investment securities | — | — | (390 | ) | — | (2,748 | ) | — | (195 | ) | — | |||||||||||||||||||||
| Net unrealized appreciation on investment securities | 27,603 | 49,046 | 86,618 | 66,439 | 54,567 | 12,380 | 313 | 1,162 | ||||||||||||||||||||||||
| Cost of investment securities | 281,960 | 469,768 | 1,066,873 | 885,561 | 941,575 | 179,289 | 455,658 | 204,420 | ||||||||||||||||||||||||
| 24 | American Funds Portfolio Series |
Dividends from net investment income shown on the accompanying financial statements are considered ordinary income distributions or tax-exempt distributions for tax purposes. Distributions from short-term net realized gains are considered ordinary income distributions for tax purposes. Tax-basis distributions paid to shareholders from net investment income and short-term net realized gains, if applicable, were as follows (dollars in thousands):
| Share class | Global Growth Portfolio | Growth Portfolio | Growth and Income Portfolio | Balanced Portfolio | ||||||||||||||||||||||||||||
| Six months ended April 30, 2013 | Period ended October 31, 2012* | Six months ended April 30, 2013 | Period ended October 31, 2012* | Six months ended April 30, 2013 | Period ended October 31, 2012* | Six months ended April 30, 2013 | Period ended October 31, 2012* | |||||||||||||||||||||||||
| Class A | $ | 1,014 | $ | — | $ | 1,500 | $ | — | $ | 7,777 | $ | 1,009 | $ | 4,273 | $ | 655 | ||||||||||||||||
| Class B | 5 | — | 13 | — | 64 | 9 | 29 | 5 | ||||||||||||||||||||||||
| Class C | 127 | — | 168 | — | 873 | 74 | 521 | 62 | ||||||||||||||||||||||||
| Class F-1 | 31 | — | 49 | — | 161 | 19 | 118 | 11 | ||||||||||||||||||||||||
| Class F-2 | 43 | — | 38 | — | 127 | 11 | 127 | 15 | ||||||||||||||||||||||||
| Class 529-A | 174 | — | 278 | — | 855 | 100 | 512 | 85 | ||||||||||||||||||||||||
| Class 529-B | 2 | — | 3 | — | 10 | 1 | 4 | 1 | ||||||||||||||||||||||||
| Class 529-C | 34 | — | 79 | — | 280 | 27 | 144 | 21 | ||||||||||||||||||||||||
| Class 529-E | 3 | — | 13 | — | 33 | 4 | 17 | 2 | ||||||||||||||||||||||||
| Class 529-F-1 | 7 | — | 14 | — | 40 | 3 | 29 | 4 | ||||||||||||||||||||||||
| Class R-1 | 2 | — | 10 | — | 24 | 2 | 16 | 1 | ||||||||||||||||||||||||
| Class R-2 | 10 | — | 19 | — | 50 | 2 | 39 | 3 | ||||||||||||||||||||||||
| Class R-3 | 9 | — | 6 | — | 51 | 4 | 68 | 11 | ||||||||||||||||||||||||
| Class R-4 | 9 | — | 6 | — | 5 | — | † | 16 | 2 | |||||||||||||||||||||||
| Class R-5 | 155 | — | 99 | — | 217 | 40 | 90 | 24 | ||||||||||||||||||||||||
| Class R-6 | — | † | — | 1 | — | 3 | — | † | 34 | — | † | |||||||||||||||||||||
| Total | $ | 1,625 | $ | — | $ | 2,296 | $ | — | $ | 10,570 | $ | 1,305 | $ | 6,037 | $ | 902 | ||||||||||||||||
| Share class | Income Portfolio | Tax-Advantaged Income Portfolio | Preservation Portfolio | Tax-Exempt Preservation Portfolio | ||||||||||||||||||||||||||||
| Six months ended April 30, 2013 | Period ended October 31, 2012* | Six months ended April 30, 2013 | Period ended October 31, 2012* | Six months ended April 30, 2013 | Period ended October 31, 2012* | Six months ended April 30, 2013 | Period ended October 31, 2012* | |||||||||||||||||||||||||
| Class A | $ | 9,673 | $ | 1,728 | $ | 1,587 | $ | 526 | $ | 1,477 | $ | 430 | $ | 1,400 | $ | 528 | ||||||||||||||||
| Class B | 60 | 13 | 2 | — | † | 5 | 1 | 1 | — | † | ||||||||||||||||||||||
| Class C | 1,610 | 250 | 129 | 30 | 108 | 31 | 308 | 83 | ||||||||||||||||||||||||
| Class F-1 | 502 | 99 | 56 | 18 | 43 | 17 | 123 | 45 | ||||||||||||||||||||||||
| Class F-2 | 308 | 46 | 34 | 8 | 34 | 14 | 188 | 62 | ||||||||||||||||||||||||
| Class 529-A | 407 | 70 | 137 | 40 | ||||||||||||||||||||||||||||
| Class 529-B | 7 | 1 | 1 | — | † | |||||||||||||||||||||||||||
| Class 529-C | 243 | 40 | 22 | 5 | ||||||||||||||||||||||||||||
| Class 529-E | 34 | 5 | 8 | 3 | ||||||||||||||||||||||||||||
| Class 529-F-1 | 30 | 3 | 7 | 3 | ||||||||||||||||||||||||||||
| Class R-1 | 5 | 1 | 2 | — | † | |||||||||||||||||||||||||||
| Class R-2 | 59 | 6 | 6 | 2 | ||||||||||||||||||||||||||||
| Class R-3 | 62 | 10 | 12 | 1 | ||||||||||||||||||||||||||||
| Class R-4 | 52 | 5 | 8 | — | † | |||||||||||||||||||||||||||
| Class R-5 | 111 | 32 | 26 | 13 | ||||||||||||||||||||||||||||
| Class R-6 | 2 | — | † | 2 | — | † | ||||||||||||||||||||||||||
| Total | $ | 13,165 | $ | 2,309 | $ | 1,808 | $ | 582 | $ | 1,898 | $ | 560 | $ | 2,020 | $ | 718 | ||||||||||||||||
| * | For the period May 18, 2012, commencement of operations, through October 31, 2012. |
| † | Amount less than one thousand. |
| American Funds Portfolio Series | 25 |
6. Fees and transactions with related parties
CRMC, the series’ investment adviser, is the parent company of American Funds Distributors®, Inc. (“AFD”), the principal underwriter of the series’ shares, and American Funds Service Company® (“AFS”), the series’ transfer agent. CRMC, AFD and AFS are considered related parties to the series.
Investment advisory services — The series has an investment advisory and service agreement with CRMC that provides for monthly fees, accrued daily. These fees are based on an annual rate of 0.10% of daily net assets. CRMC is currently waiving these fees. This waiver can be modified or terminated only with the approval of the series’ board of trustees. Investment advisory services fees are presented in the statements of operations gross of the waiver from CRMC. CRMC receives fees from the underlying funds for investment advisory services. These fees are included in the net effective expense ratios that are provided as supplementary information in the Financial Highlights table on pages 38 to 45.
Other reimbursements — CRMC has agreed to reimburse a portion of the fees and expenses of the funds during their startup period. At its discretion the adviser may elect to extend, modify, or terminate the reimbursements. Fees and expenses in the statements of operations are presented gross of the reimbursement from CRMC. The amounts reimbursed by CRMC are reflected as other reimbursements.
Class-specific fees and expenses — Expenses that are specific to individual share classes are accrued directly to the respective share class. The principal class-specific fees and expenses are described below:
| Distribution services — The series has plans of distribution for all share classes, except Class F-2, R-5 and R-6 shares. Under the plans, the board of trustees approves certain categories of expenses that are used to finance activities primarily intended to sell fund shares and service existing accounts. The plans provide for payments, based on an annualized percentage of average daily net assets, ranging from 0.30% to 1.00% as noted below. In some cases, the board of trustees has limited the amounts that may be paid to less than the maximum allowed by the plans. All share classes with a plan may use up to 0.25% of average daily net assets to pay service fees, or to compensate AFD for paying service fees, to firms that have entered into agreements with AFD to provide certain shareholder services. The remaining amounts available to be paid under each plan are paid to dealers to compensate them for their sales activities. |
| Share class | Currently approved limits | Plan limits | |||||||
| Class A | 0.30 | % | 0.30 | % | |||||
| Class 529-A | 0.30 | 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 | |||||||
| For Class A and 529-A shares, distribution-related expenses include the reimbursement of dealer and wholesaler commissions paid by AFD for certain shares sold without a sales charge. These share classes reimburse AFD for amounts billed within the prior 15 months but only to the extent that the overall annual expense limit of 0.30% is not exceeded. As of April 30, 2013, unreimbursed expenses subject to reimbursement for the funds’ Class A and 529-A shares were as follows (dollars in thousands): |
| Class A | Class 529-A | ||||||||
| Global Growth Portfolio | $ | — | $— | ||||||
| Growth Portfolio | — | — | |||||||
| Growth and Income Portfolio | — | — | |||||||
| Balanced Portfolio | — | — | |||||||
| Income Portfolio | 98 | — | |||||||
| Tax-Advantaged Income Portfolio | 78 | Not applicable | |||||||
| Preservation Portfolio | 114 | — | |||||||
| Tax-Exempt Preservation Portfolio | 301 | Not applicable | |||||||
| 26 | American Funds Portfolio Series |
| Transfer agent services — The series has a shareholder services agreement with AFS under which the funds compensate AFS for providing transfer agent services to all of the funds’ share classes. These services include recordkeeping, shareholder communications and transaction processing. In addition, the funds reimburse AFS for amounts paid to third parties for performing transfer agent services on behalf of fund shareholders. | |
| Administrative services — The series has an administrative services agreement with CRMC for providing administrative services to all of the funds’ share classes. These services include, but are not limited to, coordinating, monitoring, assisting and overseeing third parties that provide services to fund shareholders. CRMC receives administrative services fees of 0.05% of average daily net assets from the Class R-6 shares of the underlying funds for administrative services provided to the series. | |
| 529 plan services — For funds with 529 share classes, each 529 share class is subject to service fees to compensate the Commonwealth of Virginia for the maintenance of the 529 college savings plan. The quarterly fee is based on a series of decreasing annual rates beginning with 0.10% on the first $30 billion of the net assets invested in Class 529 shares of the American Funds and decreasing to 0.06% on such assets between $120 billion and $150 billion. The fee for any given calendar quarter is accrued and calculated on the basis of the average net assets of Class 529 shares of the American Funds for the last month of the prior calendar quarter. The fee is included in other expenses on the accompanying financial statements. The Commonwealth of Virginia is not considered a related party. | |
| Class-specific expenses under the agreements described above for the six months ended April 30, 2013, were as follows: |
| Share class | Distribution services | Transfer agent services | 529 plan services | |||||||
| Global Growth Portfolio | ||||||||||
| Class A | $157,723 | $52,395 | Not applicable | |||||||
| Class B | 3,850 | 446 | Not applicable | |||||||
| Class C | 86,546 | 7,891 | Not applicable | |||||||
| Class F-1 | 8,376 | 3,627 | Not applicable | |||||||
| Class F-2 | Not applicable | 2,583 | Not applicable | |||||||
| Class 529-A | 12,499 | 9,097 | $8,605 | |||||||
| Class 529-B | 1,147 | 125 | 113 | |||||||
| Class 529-C | 24,623 | 2,404 | 2,421 | |||||||
| Class 529-E | 947 | 115 | 187 | |||||||
| Class 529-F-1 | — | 293 | 283 | |||||||
| Class R-1 | 941 | 101 | Not applicable | |||||||
| Class R-2 | 7,577 | 4,442 | Not applicable | |||||||
| Class R-3 | 4,240 | 1,066 | Not applicable | |||||||
| Class R-4 | 857 | 456 | Not applicable | |||||||
| Class R-5 | Not applicable | 3,648 | Not applicable | |||||||
| Class R-6 | Not applicable | 60 | Not applicable | |||||||
| Total class-specific expenses | $309,326 | $88,749 | $11,609 | |||||||
| Growth Portfolio | ||||||||||
| Class A | $271,091 | $96,044 | Not applicable | |||||||
| Class B | 10,619 | 1,208 | Not applicable | |||||||
| Class C | 149,157 | 13,786 | Not applicable | |||||||
| Class F-1 | 8,093 | 3,662 | Not applicable | |||||||
| Class F-2 | Not applicable | 5,035 | Not applicable | |||||||
| Class 529-A | 18,960 | 18,841 | $17,494 | |||||||
| Class 529-B | 2,762 | 317 | 272 | |||||||
| Class 529-C | 67,357 | 6,832 | 6,630 | |||||||
| Class 529-E | 3,825 | 472 | 752 | |||||||
| Class 529-F-1 | — | 809 | 756 | |||||||
| Class R-1 | 5,900 | 667 | Not applicable | |||||||
| Class R-2 | 11,495 | 6,133 | Not applicable | |||||||
| Class R-3 | 6,993 | 1,711 | Not applicable | |||||||
| Class R-4 | 842 | 459 | Not applicable | |||||||
| Class R-5 | Not applicable | 2,929 | Not applicable | |||||||
| Class R-6 | Not applicable | 84 | Not applicable | |||||||
| Total class-specific expenses | $557,094 | $158,989 | $25,904 | |||||||
| American Funds Portfolio Series | 27 |
| Share class | Distribution services | Transfer agent services | 529 plan services | |||||||
| Growth and Income Portfolio | ||||||||||
| Class A | $695,596 | $257,869 | Not applicable | |||||||
| Class B | 27,806 | 3,259 | Not applicable | |||||||
| Class C | 375,797 | 35,308 | Not applicable | |||||||
| Class F-1 | 13,676 | 6,228 | Not applicable | |||||||
| Class F-2 | Not applicable | 4,492 | Not applicable | |||||||
| Class 529-A | 52,666 | 30,862 | $28,753 | |||||||
| Class 529-B | 4,269 | 476 | 420 | |||||||
| Class 529-C | 125,648 | 12,658 | 12,366 | |||||||
| Class 529-E | 6,251 | 788 | 1,229 | |||||||
| Class 529-F-1 | — | 1,320 | 1,283 | |||||||
| Class R-1 | 8,903 | 1,066 | Not applicable | |||||||
| Class R-2 | 17,741 | 8,844 | Not applicable | |||||||
| Class R-3 | 9,314 | 2,898 | Not applicable | |||||||
| Class R-4 | 457 | 98 | Not applicable | |||||||
| Class R-5 | Not applicable | 3,817 | Not applicable | |||||||
| Class R-6 | Not applicable | 65 | Not applicable | |||||||
| Total class-specific expenses | $1,338,124 | $370,048 | $44,051 | |||||||
| Balanced Portfolio | ||||||||||
| Class A | $612,113 | $204,503 | Not applicable | |||||||
| Class B | 21,102 | 2,499 | Not applicable | |||||||
| Class C | 358,248 | 33,971 | Not applicable | |||||||
| Class F-1 | 15,266 | 6,511 | Not applicable | |||||||
| Class F-2 | Not applicable | 6,266 | Not applicable | |||||||
| Class 529-A | 35,710 | 27,063 | $24,523 | |||||||
| Class 529-B | 3,497 | 398 | 344 | |||||||
| Class 529-C | 106,481 | 10,854 | 10,482 | |||||||
| Class 529-E | 4,398 | 564 | 865 | |||||||
| Class 529-F-1 | — | 1,273 | 1,185 | |||||||
| Class R-1 | 11,503 | 1,097 | Not applicable | |||||||
| Class R-2 | 19,302 | 10,067 | Not applicable | |||||||
| Class R-3 | 20,805 | 7,812 | Not applicable | |||||||
| Class R-4 | 2,985 | 1,437 | Not applicable | |||||||
| Class R-5 | Not applicable | 2,220 | Not applicable | |||||||
| Class R-6 | Not applicable | 114 | Not applicable | |||||||
| Total class-specific expenses | $1,211,410 | $316,649 | $37,399 | |||||||
| Income Portfolio | ||||||||||
| Class A | $741,607 | $245,274 | Not applicable | |||||||
| Class B | 18,471 | 2,172 | Not applicable | |||||||
| Class C | 480,758 | 46,285 | Not applicable | |||||||
| Class F-1 | 31,087 | 14,767 | Not applicable | |||||||
| Class F-2 | Not applicable | 8,162 | Not applicable | |||||||
| Class 529-A | 21,026 | 11,327 | $10,387 | |||||||
| Class 529-B | 2,303 | 256 | 226 | |||||||
| Class 529-C | 74,876 | 7,637 | 7,369 | |||||||
| Class 529-E | 4,517 | 566 | 888 | |||||||
| Class 529-F-1 | — | 690 | 672 | |||||||
| Class R-1 | 1,489 | 172 | Not applicable | |||||||
| Class R-2 | 12,995 | 7,233 | Not applicable | |||||||
| Class R-3 | 9,787 | 4,045 | Not applicable | |||||||
| Class R-4 | 2,941 | 1,004 | Not applicable | |||||||
| Class R-5 | Not applicable | 1,514 | Not applicable | |||||||
| Class R-6 | Not applicable | 45 | Not applicable | |||||||
| Total class-specific expenses | $1,401,857 | $351,149 | $19,542 | |||||||
| Tax-Advantaged Income Portfolio | ||||||||||
| Class A | $169,681 | $54,583 | ||||||||
| Class B | 740 | 82 | ||||||||
| Class C | 59,058 | 5,817 | ||||||||
| Class F-1 | 5,008 | 2,183 | ||||||||
| Class F-2 | Not applicable | 1,295 | ||||||||
| Total class-specific expenses | $234,487 | $63,960 | ||||||||
| 28 | American Funds Portfolio Series |
| Share class | Distribution services | Transfer agent services | 529 plan services | ||||||||
| Preservation Portfolio | |||||||||||
| Class A | $384,903 | $128,617 | Not applicable | ||||||||
| Class B | 12,262 | 1,454 | Not applicable | ||||||||
| Class C | 234,519 | 23,333 | Not applicable | ||||||||
| Class F-1 | 9,558 | 4,679 | Not applicable | ||||||||
| Class F-2 | Not applicable | 2,609 | Not applicable | ||||||||
| Class 529-A | 21,767 | 12,830 | $11,653 | ||||||||
| Class 529-B | 2,658 | 305 | 261 | ||||||||
| Class 529-C | 61,621 | 6,397 | 6,067 | ||||||||
| Class 529-E | 4,595 | 589 | 904 | ||||||||
| Class 529-F-1 | — | 540 | 504 | ||||||||
| Class R-1 | 3,650 | 493 | Not applicable | ||||||||
| Class R-2 | 12,956 | 7,614 | Not applicable | ||||||||
| Class R-3 | 7,065 | 3,346 | Not applicable | ||||||||
| Class R-4 | 1,724 | 904 | Not applicable | ||||||||
| Class R-5 | Not applicable | 1,122 | Not applicable | ||||||||
| Class R-6 | Not applicable | 142 | Not applicable | ||||||||
| Total class-specific expenses | $757,278 | $194,974 | $19,389 | ||||||||
| Tax-Exempt Preservation Portfolio | |||||||||||
| Class A | $166,516 | $54,798 | |||||||||
| Class B | 670 | 81 | |||||||||
| Class C | 166,461 | 16,506 | |||||||||
| Class F-1 | 12,532 | 6,071 | |||||||||
| Class F-2 | Not applicable | 8,043 | |||||||||
| Total class-specific expenses | $346,179 | $85,499 | |||||||||
Trustees’ deferred compensation — Trustees who are unaffiliated with CRMC may elect to defer the cash payment of part or all of their compensation. These deferred amounts, which remain as liabilities of the funds, are treated as if invested in shares of the American Funds. These amounts represent general, unsecured liabilities of the funds and vary according to the total returns of the selected American Funds. Trustees’ compensation, shown on the accompanying financial statements, includes current fees (either paid in cash or deferred) and a net increase in the value of the deferred amounts as follows:
| Increase in value of | Total trustees’ | |||||||||||
| Current fees | deferred amounts | compensation | ||||||||||
| Global Growth Portfolio | $ | 509 | $ | 6 | $ | 515 | ||||||
| Growth Portfolio | 972 | 11 | 983 | |||||||||
| Growth and Income Portfolio | 2,388 | 27 | 2,415 | |||||||||
| Balanced Portfolio | 2,026 | 23 | 2,049 | |||||||||
| Income Portfolio | 2,408 | 26 | 2,434 | |||||||||
| Tax-Advantaged Income Portfolio | 444 | 5 | 449 | |||||||||
| Preservation Portfolio | 1,435 | 16 | 1,451 | |||||||||
| Tax-Exempt Preservation Portfolio | 655 | 7 | 662 | |||||||||
Affiliated officers and trustees — Officers and certain trustees of the series are or may be considered to be affiliated with CRMC, AFD and AFS. No affiliated officers or trustees received any compensation directly from the series.
7. Investment transactions
The funds made purchases and sales of investment securities during the six months ended April 30, 2013, as follows (dollars in thousands):
| Purchases | Sales | |||||||
| Global Growth Portfolio | $ | 199,669 | $ | — | ||||
| Growth Portfolio | 305,648 | 528 | ||||||
| Growth and Income Portfolio | 654,078 | — | ||||||
| Balanced Portfolio | 535,920 | 699 | ||||||
| Income Portfolio | 519,456 | — | ||||||
| Tax-Advantaged Income Portfolio | 104,033 | 218 | ||||||
| Preservation Portfolio | 220,480 | 5,174 | ||||||
| Tax-Exempt Preservation Portfolio | 94,714 | 4,435 | ||||||
| American Funds Portfolio Series | 29 |
8. Capital share transactions
Capital share transactions in the funds for the six months ended April 30, 2013, were as follows (dollars and shares in thousands):
| Sales1 | Reinvestments of dividends and distributions | Repurchases1 | Net increase | |||||||||||||||||||||||||||||
| Share class | Amount | Shares | Amount | Shares | Amount | Shares | Amount | Shares | ||||||||||||||||||||||||
| Global Growth Portfolio | ||||||||||||||||||||||||||||||||
| Six months ended April 30, 2013 | ||||||||||||||||||||||||||||||||
| Class A | $ | 134,083 | 11,276 | $ | 1,006 | 88 | $ | (8,881 | ) | (751 | ) | $ | 126,208 | 10,613 | ||||||||||||||||||
| Class B | 753 | 63 | 5 | 1 | (163 | ) | (13 | ) | 595 | 51 | ||||||||||||||||||||||
| Class C | 23,152 | 1,948 | 126 | 11 | (1,226 | ) | (103 | ) | 22,052 | 1,856 | ||||||||||||||||||||||
| Class F-1 | 10,883 | 912 | 27 | 2 | (611 | ) | (50 | ) | 10,299 | 864 | ||||||||||||||||||||||
| Class F-2 | 8,028 | 679 | 34 | 3 | (554 | ) | (46 | ) | 7,508 | 636 | ||||||||||||||||||||||
| Class 529-A | 16,383 | 1,383 | 174 | 15 | (499 | ) | (42 | ) | 16,058 | 1,356 | ||||||||||||||||||||||
| Class 529-B | 195 | 16 | 2 | — | 2 | (30 | ) | (2 | ) | 167 | 14 | |||||||||||||||||||||
| Class 529-C | 6,177 | 523 | 34 | 2 | (194 | ) | (16 | ) | 6,017 | 509 | ||||||||||||||||||||||
| Class 529-E | 412 | 35 | 3 | — | 2 | (52 | ) | (4 | ) | 363 | 31 | |||||||||||||||||||||
| Class 529-F-1 | 591 | 51 | 7 | 1 | (80 | ) | (7 | ) | 518 | 45 | ||||||||||||||||||||||
| Class R-1 | 192 | 16 | 2 | — | 2 | (52 | ) | (4 | ) | 142 | 12 | |||||||||||||||||||||
| Class R-2 | 3,812 | 323 | 10 | 1 | (1,612 | ) | (132 | ) | 2,210 | 192 | ||||||||||||||||||||||
| Class R-3 | 3,393 | 284 | 9 | 1 | (115 | ) | (10 | ) | 3,287 | 275 | ||||||||||||||||||||||
| Class R-4 | 654 | 56 | 9 | 1 | (152 | ) | (13 | ) | 511 | 44 | ||||||||||||||||||||||
| Class R-5 | 2,256 | 190 | 155 | 14 | (562 | ) | (48 | ) | 1,849 | 156 | ||||||||||||||||||||||
| Class R-6 | 1,244 | 103 | — | 2 | — | 2 | (8 | ) | (1 | ) | 1,236 | 102 | ||||||||||||||||||||
| Total net increase (decrease) | $ | 212,208 | 17,858 | $ | 1,603 | 140 | $ | (14,791 | ) | (1,242 | ) | $ | 199,020 | 16,756 | ||||||||||||||||||
| For the period May 18, 20123 to October 31, 2012 | ||||||||||||||||||||||||||||||||
| Class A | $ | 77,801 | 7,379 | $— | — | $ | (28,728 | ) | (2,600 | ) | $ | 49,073 | 4,779 | |||||||||||||||||||
| Class B | 527 | 48 | — | — | (59 | ) | (5 | ) | 468 | 43 | ||||||||||||||||||||||
| Class C | 7,840 | 722 | — | — | (401 | ) | (37 | ) | 7,439 | 685 | ||||||||||||||||||||||
| Class F-1 | 1,639 | 153 | — | — | (51 | ) | (5 | ) | 1,588 | 148 | ||||||||||||||||||||||
| Class F-2 | 1,317 | 123 | — | — | (180 | ) | (16 | ) | 1,137 | 107 | ||||||||||||||||||||||
| Class 529-A | 8,651 | 807 | — | — | (71 | ) | (6 | ) | 8,580 | 801 | ||||||||||||||||||||||
| Class 529-B | 154 | 14 | — | — | (3) | — | 2 | 151 | 14 | |||||||||||||||||||||||
| Class 529-C | 1,927 | 181 | — | — | (6) | (1 | ) | 1,921 | 180 | |||||||||||||||||||||||
| Class 529-E | 185 | 17 | — | — | — | 2 | — | 2 | 185 | 17 | ||||||||||||||||||||||
| Class 529-F-1 | 251 | 23 | — | — | — | — | 251 | 23 | ||||||||||||||||||||||||
| Class R-1 | 131 | 12 | — | — | — | — | 131 | 12 | ||||||||||||||||||||||||
| Class R-2 | 442 | 40 | — | — | — | 2 | — | 2 | 442 | 40 | ||||||||||||||||||||||
| Class R-3 | 419 | 40 | — | — | (211 | ) | (20 | ) | 208 | 20 | ||||||||||||||||||||||
| Class R-4 | 320 | 28 | — | — | — | 2 | — | 2 | 320 | 28 | ||||||||||||||||||||||
| Class R-5 | 10,620 | 993 | — | — | (419 | ) | (38 | ) | 10,201 | 955 | ||||||||||||||||||||||
| Class R-6 | 191 | 19 | — | — | (191 | ) | (17 | ) | — | 2 | 2 | |||||||||||||||||||||
| Total net increase (decrease) | $ | 112,415 | 10,599 | $— | — | $ | (30,320 | ) | (2,745 | ) | $ | 82,095 | 7,854 | |||||||||||||||||||
| 30 | American Funds Portfolio Series |
| Sales1 | Reinvestments of dividends | Repurchases1 | Net increase | |||||||||||||||||||||||||||||
| Share class | Amount | Shares | Amount | Shares | Amount | Shares | Amount | Shares | ||||||||||||||||||||||||
| Growth Portfolio | ||||||||||||||||||||||||||||||||
| Six months ended April 30, 2013 | ||||||||||||||||||||||||||||||||
| Class A | $ | 212,095 | 18,004 | $ | 1,486 | 132 | $ | (16,142 | ) | (1,374 | ) | $ | 197,439 | 16,762 | ||||||||||||||||||
| Class B | 1,825 | 154 | 13 | 1 | (356 | ) | (30 | ) | 1,482 | 125 | ||||||||||||||||||||||
| Class C | 36,645 | 3,115 | 166 | 14 | (2,205 | ) | (187 | ) | 34,606 | 2,942 | ||||||||||||||||||||||
| Class F-1 | 6,553 | 563 | 49 | 4 | (1,089 | ) | (94 | ) | 5,513 | 473 | ||||||||||||||||||||||
| Class F-2 | 17,133 | 1,456 | 35 | 3 | (2,324 | ) | (196 | ) | 14,844 | 1,263 | ||||||||||||||||||||||
| Class 529-A | 27,974 | 2,387 | 278 | 25 | (1,731 | ) | (145 | ) | 26,521 | 2,267 | ||||||||||||||||||||||
| Class 529-B | 151 | 13 | 3 | — | 2 | (112 | ) | (9 | ) | 42 | 4 | |||||||||||||||||||||
| Class 529-C | 11,026 | 943 | 79 | 7 | (873 | ) | (74 | ) | 10,232 | 876 | ||||||||||||||||||||||
| Class 529-E | 1,471 | 127 | 13 | 1 | (14 | ) | (1 | ) | 1,470 | 127 | ||||||||||||||||||||||
| Class 529-F-1 | 927 | 81 | 14 | 1 | (30 | ) | (3 | ) | 911 | 79 | ||||||||||||||||||||||
| Class R-1 | 899 | 78 | 10 | 1 | (272 | ) | (24 | ) | 637 | 55 | ||||||||||||||||||||||
| Class R-2 | 3,967 | 336 | 18 | 2 | (283 | ) | (25 | ) | 3,702 | 313 | ||||||||||||||||||||||
| Class R-3 | 5,386 | 455 | 6 | 1 | (285 | ) | (24 | ) | 5,107 | 432 | ||||||||||||||||||||||
| Class R-4 | 726 | 62 | 6 | 1 | (42 | ) | (4 | ) | 690 | 59 | ||||||||||||||||||||||
| Class R-5 | 2,213 | 187 | 99 | 9 | (626 | ) | (53 | ) | 1,686 | 143 | ||||||||||||||||||||||
| Class R-6 | 587 | 49 | 1 | — | 2 | (67 | ) | (5 | ) | 521 | 44 | |||||||||||||||||||||
| Total net increase (decrease) | $ | 329,578 | 28,010 | $ | 2,276 | 202 | $ | (26,451 | ) | (2,248 | ) | $ | 305,403 | 25,964 | ||||||||||||||||||
| For the period May 18, 20123 to October 31, 2012 | ||||||||||||||||||||||||||||||||
| Class A | $ | 132,170 | 12,495 | $ | — | — | $ | (29,441 | ) | (2,689 | ) | $ | 102,729 | 9,806 | ||||||||||||||||||
| Class B | 1,449 | 135 | — | — | (51 | ) | (5 | ) | 1,398 | 130 | ||||||||||||||||||||||
| Class C | 14,646 | 1,364 | — | — | (679 | ) | (63 | ) | 13,967 | 1,301 | ||||||||||||||||||||||
| Class F-1 | 3,179 | 297 | — | — | (104 | ) | (10 | ) | 3,075 | 287 | ||||||||||||||||||||||
| Class F-2 | 1,820 | 170 | — | — | (23 | ) | (2 | ) | 1,797 | 168 | ||||||||||||||||||||||
| Class 529-A | 20,526 | 1,923 | — | — | (272 | ) | (25 | ) | 20,254 | 1,898 | ||||||||||||||||||||||
| Class 529-B | 506 | 48 | — | — | (19 | ) | (2 | ) | 487 | 46 | ||||||||||||||||||||||
| Class 529-C | 7,926 | 739 | — | — | (69 | ) | (6 | ) | 7,857 | 733 | ||||||||||||||||||||||
| Class 529-E | 647 | 60 | — | — | (1 | ) | — | 2 | 646 | 60 | ||||||||||||||||||||||
| Class 529-F-1 | 1,032 | 96 | — | — | (90 | ) | (8 | ) | 942 | 88 | ||||||||||||||||||||||
| Class R-1 | 731 | 68 | — | — | — | — | 731 | 68 | ||||||||||||||||||||||||
| Class R-2 | 1,619 | 148 | — | — | (114 | ) | (11 | ) | 1,505 | 137 | ||||||||||||||||||||||
| Class R-3 | 625 | 59 | — | — | (142 | ) | (13 | ) | 483 | 46 | ||||||||||||||||||||||
| Class R-4 | 229 | 21 | — | — | — | 2 | — | 2 | 229 | 21 | ||||||||||||||||||||||
| Class R-5 | 8,464 | 803 | — | — | (125 | ) | (11 | ) | 8,339 | 792 | ||||||||||||||||||||||
| Class R-6 | 245 | 23 | — | — | (189 | ) | (17 | ) | 56 | 6 | ||||||||||||||||||||||
| Total net increase (decrease) | $ | 195,814 | 18,449 | $ | — | — | $ | (31,319 | ) | (2,862 | ) | $ | 164,495 | 15,587 | ||||||||||||||||||
See page 37 for footnotes.
| American Funds Portfolio Series | 31 |
| Sales1 | Reinvestments of dividends | Repurchases1 | Net increase | |||||||||||||||||||||||||||||
| Share class | Amount | Shares | Amount | Shares | Amount | Shares | Amount | Shares | ||||||||||||||||||||||||
| Growth and Income Portfolio | ||||||||||||||||||||||||||||||||
| Six months ended April 30, 2013 | ||||||||||||||||||||||||||||||||
| Class A | $ | 500,403 | 44,235 | $ | 7,720 | 691 | $ | (37,209 | ) | (3,289 | ) | $ | 470,914 | 41,637 | ||||||||||||||||||
| Class B | 4,170 | 371 | 64 | 6 | (1,204 | ) | (106 | ) | 3,030 | 271 | ||||||||||||||||||||||
| Class C | 80,463 | 7,116 | 867 | 78 | (4,890 | ) | (431 | ) | 76,440 | 6,763 | ||||||||||||||||||||||
| Class F-1 | 9,344 | 828 | 152 | 14 | (1,760 | ) | (157 | ) | 7,736 | 685 | ||||||||||||||||||||||
| Class F-2 | 10,237 | 903 | 124 | 11 | (807 | ) | (72 | ) | 9,554 | 842 | ||||||||||||||||||||||
| Class 529-A | 43,692 | 3,877 | 855 | 77 | (2,070 | ) | (183 | ) | 42,477 | 3,771 | ||||||||||||||||||||||
| Class 529-B | 533 | 47 | 10 | 1 | (173 | ) | (15 | ) | 370 | 33 | ||||||||||||||||||||||
| Class 529-C | 20,787 | 1,846 | 280 | 25 | (1,239 | ) | (108 | ) | 19,828 | 1,763 | ||||||||||||||||||||||
| Class 529-E | 2,320 | 208 | 33 | 3 | (71 | ) | (6 | ) | 2,282 | 205 | ||||||||||||||||||||||
| Class 529-F-1 | 2,034 | 183 | 40 | 3 | (63 | ) | (5 | ) | 2,011 | 181 | ||||||||||||||||||||||
| Class R-1 | 2,184 | 194 | 24 | 2 | (399 | ) | (35 | ) | 1,809 | 161 | ||||||||||||||||||||||
| Class R-2 | 7,637 | 678 | 49 | 5 | (1,103 | ) | (97 | ) | 6,583 | 586 | ||||||||||||||||||||||
| Class R-3 | 6,853 | 601 | 51 | 5 | (758 | ) | (66 | ) | 6,146 | 540 | ||||||||||||||||||||||
| Class R-4 | 853 | 75 | 5 | — | 2 | (31 | ) | (3 | ) | 827 | 72 | |||||||||||||||||||||
| Class R-5 | 2,751 | 242 | 217 | 19 | (903 | ) | (79 | ) | 2,065 | 182 | ||||||||||||||||||||||
| Class R-6 | 230 | 21 | 3 | — | 2 | (23 | ) | (2 | ) | 210 | 19 | |||||||||||||||||||||
| Total net increase (decrease) | $ | 694,491 | 61,425 | $ | 10,494 | 940 | $ | (52,703 | ) | (4,654 | ) | $ | 652,282 | 57,711 | ||||||||||||||||||
| For the period May 18, 20123 to October 31, 2012 | ||||||||||||||||||||||||||||||||
| Class A | $ | 324,467 | 30,594 | $ | 863 | 81 | $ | (33,316 | ) | (3,109 | ) | $ | 292,014 | 27,566 | ||||||||||||||||||
| Class B | 4,131 | 388 | 9 | 1 | (460 | ) | (43 | ) | 3,680 | 346 | ||||||||||||||||||||||
| Class C | 39,940 | 3,743 | 74 | 7 | (1,149 | ) | (107 | ) | 38,865 | 3,643 | ||||||||||||||||||||||
| Class F-1 | 7,160 | 672 | 16 | 1 | (582 | ) | (53 | ) | 6,594 | 620 | ||||||||||||||||||||||
| Class F-2 | 4,315 | 401 | 9 | 1 | (252 | ) | (24 | ) | 4,072 | 378 | ||||||||||||||||||||||
| Class 529-A | 35,172 | 3,311 | 100 | 10 | (323 | ) | (30 | ) | 34,949 | 3,291 | ||||||||||||||||||||||
| Class 529-B | 698 | 66 | 1 | — | 2 | (109 | ) | (10 | ) | 590 | 56 | |||||||||||||||||||||
| Class 529-C | 14,584 | 1,367 | 27 | 3 | (188 | ) | (18 | ) | 14,423 | 1,352 | ||||||||||||||||||||||
| Class 529-E | 1,098 | 102 | 3 | 1 | — | — | 1,101 | 103 | ||||||||||||||||||||||||
| Class 529-F-1 | 1,299 | 122 | 3 | — | 2 | — | — | 1,302 | 122 | |||||||||||||||||||||||
| Class R-1 | 815 | 76 | 2 | — | 2 | (12 | ) | (1 | ) | 805 | 75 | |||||||||||||||||||||
| Class R-2 | 1,489 | 137 | 2 | — | 2 | (6 | ) | (1 | ) | 1,485 | 136 | |||||||||||||||||||||
| Class R-3 | 1,389 | 130 | 4 | — | 2 | (117 | ) | (11 | ) | 1,276 | 119 | |||||||||||||||||||||
| Class R-4 | 93 | 9 | — | 2 | — | 2 | — | 2 | — | 2 | 93 | 9 | ||||||||||||||||||||
| Class R-5 | 11,493 | 1,090 | 40 | 4 | (392 | ) | (36 | ) | 11,141 | 1,058 | ||||||||||||||||||||||
| Class R-6 | 46 | 4 | — | 2 | — | 2 | — | 2 | — | 2 | 46 | 4 | ||||||||||||||||||||
| Total net increase (decrease) | $ | 448,189 | 42,212 | $ | 1,153 | 109 | $ | (36,906 | ) | (3,443 | ) | $ | 412,436 | 38,878 | ||||||||||||||||||
| 32 | American Funds Portfolio Series |
| Sales1 | Reinvestments of dividends | Repurchases1 | Net increase | |||||||||||||||||||||||||||||
| Share class | Amount | Shares | Amount | Shares | Amount | Shares | Amount | Shares | ||||||||||||||||||||||||
| Balanced Portfolio | ||||||||||||||||||||||||||||||||
| Six months ended April 30, 2013 | ||||||||||||||||||||||||||||||||
| Class A | $ | 397,255 | 35,413 | $ | 4,246 | 381 | $ | (38,353 | ) | (3,419 | ) | $ | 363,148 | 32,375 | ||||||||||||||||||
| Class B | 2,893 | 259 | 29 | 3 | (1,139 | ) | (102 | ) | 1,783 | 160 | ||||||||||||||||||||||
| Class C | 72,636 | 6,471 | 517 | 47 | (4,699 | ) | (419 | ) | 68,454 | 6,099 | ||||||||||||||||||||||
| Class F-1 | 20,858 | 1,849 | 118 | 11 | (2,823 | ) | (254 | ) | 18,153 | 1,606 | ||||||||||||||||||||||
| Class F-2 | 10,769 | 961 | 126 | 11 | (581 | ) | (52 | ) | 10,314 | 920 | ||||||||||||||||||||||
| Class 529-A | 29,432 | 2,637 | 511 | 46 | (3,246 | ) | (288 | ) | 26,697 | 2,395 | ||||||||||||||||||||||
| Class 529-B | 484 | 44 | 4 | — | 2 | (187 | ) | (17 | ) | 301 | 27 | |||||||||||||||||||||
| Class 529-C | 14,155 | 1,267 | 144 | 13 | (1,101 | ) | (98 | ) | 13,198 | 1,182 | ||||||||||||||||||||||
| Class 529-E | 1,342 | 122 | 17 | 2 | (84 | ) | (8 | ) | 1,275 | 116 | ||||||||||||||||||||||
| Class 529-F-1 | 1,697 | 154 | 29 | 3 | (541 | ) | (48 | ) | 1,185 | 109 | ||||||||||||||||||||||
| Class R-1 | 2,853 | 255 | 16 | 2 | (417 | ) | (37 | ) | 2,452 | 220 | ||||||||||||||||||||||
| Class R-2 | 7,859 | 700 | 38 | 3 | (1,750 | ) | (159 | ) | 6,147 | 544 | ||||||||||||||||||||||
| Class R-3 | 11,007 | 984 | 68 | 6 | (3,607 | ) | (327 | ) | 7,468 | 663 | ||||||||||||||||||||||
| Class R-4 | 6,033 | 531 | 16 | 1 | (250 | ) | (22 | ) | 5,799 | 510 | ||||||||||||||||||||||
| Class R-5 | 1,989 | 176 | 90 | 8 | (812 | ) | (72 | ) | 1,267 | 112 | ||||||||||||||||||||||
| Class R-6 | 8,704 | 774 | 34 | 3 | (914 | ) | (79 | ) | 7,824 | 698 | ||||||||||||||||||||||
| Total net increase (decrease) | $ | 589,966 | 52,597 | $ | 6,003 | 540 | $ | (60,504 | ) | (5,401 | ) | $ | 535,465 | 47,736 | ||||||||||||||||||
| For the period May 18, 20123 to October 31, 2012 | ||||||||||||||||||||||||||||||||
| Class A | $ | 261,957 | 24,894 | $ | 554 | 52 | $ | (30,373 | ) | (2,853 | ) | $ | 232,138 | 22,093 | ||||||||||||||||||
| Class B | 3,378 | 321 | 5 | — | 2 | (269 | ) | (25 | ) | 3,114 | 296 | |||||||||||||||||||||
| Class C | 40,576 | 3,831 | 62 | 6 | (1,139 | ) | (106 | ) | 39,499 | 3,731 | ||||||||||||||||||||||
| Class F-1 | 4,286 | 407 | 9 | 1 | (105 | ) | (10 | ) | 4,190 | 398 | ||||||||||||||||||||||
| Class F-2 | 6,059 | 567 | 13 | 1 | (16 | ) | (1 | ) | 6,056 | 567 | ||||||||||||||||||||||
| Class 529-A | 33,585 | 3,188 | 85 | 8 | (354 | ) | (33 | ) | 33,316 | 3,163 | ||||||||||||||||||||||
| Class 529-B | 515 | 49 | 1 | — | 2 | (35 | ) | (3 | ) | 481 | 46 | |||||||||||||||||||||
| Class 529-C | 14,139 | 1,343 | 21 | 2 | (363 | ) | (34 | ) | 13,797 | 1,311 | ||||||||||||||||||||||
| Class 529-E | 855 | 81 | 2 | — | 2 | (2 | ) | — | 2 | 855 | 81 | |||||||||||||||||||||
| Class 529-F-1 | 1,432 | 136 | 4 | — | 2 | (119 | ) | (11 | ) | 1,317 | 125 | |||||||||||||||||||||
| Class R-1 | 793 | 75 | 1 | — | 2 | — | 2 | — | 2 | 794 | 75 | |||||||||||||||||||||
| Class R-2 | 2,890 | 268 | 3 | 1 | (342 | ) | (32 | ) | 2,551 | 237 | ||||||||||||||||||||||
| Class R-3 | 4,725 | 439 | 10 | 1 | (58 | ) | (6 | ) | 4,677 | 434 | ||||||||||||||||||||||
| Class R-4 | 567 | 55 | 2 | — | 2 | — | 2 | — | 2 | 569 | 55 | |||||||||||||||||||||
| Class R-5 | 6,617 | 634 | 24 | 2 | (128 | ) | (12 | ) | 6,513 | 624 | ||||||||||||||||||||||
| Class R-6 | 52 | 5 | — | 2 | — | 2 | — | 2 | — | 2 | 52 | 5 | ||||||||||||||||||||
| Total net increase (decrease) | $ | 382,426 | 36,293 | $ | 796 | 74 | $ | (33,303 | ) | (3,126 | ) | $ | 349,919 | 33,241 | ||||||||||||||||||
See page 37 for footnotes.
| American Funds Portfolio Series | 33 |
| Sales1 | Reinvestments of dividends | Repurchases1 | Net increase | |||||||||||||||||||||||||||||
| Share class | Amount | Shares | Amount | Shares | Amount | Shares | Amount | Shares | ||||||||||||||||||||||||
| Income Portfolio | ||||||||||||||||||||||||||||||||
| Six months ended April 30, 2013 | ||||||||||||||||||||||||||||||||
| Class A | $ | 405,848 | 37,574 | $ | 9,402 | 876 | $ | (39,493 | ) | (3,657 | ) | $ | 375,757 | 34,793 | ||||||||||||||||||
| Class B | 2,685 | 251 | 59 | 5 | (927 | ) | (85 | ) | 1,817 | 171 | ||||||||||||||||||||||
| Class C | 83,631 | 7,760 | 1,588 | 148 | (6,741 | ) | (624 | ) | 78,478 | 7,284 | ||||||||||||||||||||||
| Class F-1 | 21,914 | 2,030 | 499 | 47 | (12,256 | ) | (1,130 | ) | 10,157 | 947 | ||||||||||||||||||||||
| Class F-2 | 13,146 | 1,213 | 304 | 28 | (2,545 | ) | (235 | ) | 10,905 | 1,006 | ||||||||||||||||||||||
| Class 529-A | 16,034 | 1,492 | 407 | 38 | (2,408 | ) | (223 | ) | 14,033 | 1,307 | ||||||||||||||||||||||
| Class 529-B | 278 | 26 | 7 | 1 | (103 | ) | (10 | ) | 182 | 17 | ||||||||||||||||||||||
| Class 529-C | 12,198 | 1,133 | 243 | 23 | (852 | ) | (79 | ) | 11,589 | 1,077 | ||||||||||||||||||||||
| Class 529-E | 1,533 | 143 | 34 | 3 | (185 | ) | (17 | ) | 1,382 | 129 | ||||||||||||||||||||||
| Class 529-F-1 | 1,143 | 108 | 30 | 3 | (15 | ) | (1 | ) | 1,158 | 110 | ||||||||||||||||||||||
| Class R-1 | 317 | 30 | 5 | 1 | (41 | ) | (4 | ) | 281 | 27 | ||||||||||||||||||||||
| Class R-2 | 3,516 | 324 | 59 | 5 | (25 | ) | (2 | ) | 3,550 | 327 | ||||||||||||||||||||||
| Class R-3 | 4,168 | 387 | 62 | 6 | (582 | ) | (53 | ) | 3,648 | 340 | ||||||||||||||||||||||
| Class R-4 | 4,529 | 413 | 52 | 5 | (151 | ) | (14 | ) | 4,430 | 404 | ||||||||||||||||||||||
| Class R-5 | 3,452 | 316 | 111 | 10 | (2,963 | ) | (272 | ) | 600 | 54 | ||||||||||||||||||||||
| Class R-6 | 102 | 10 | 2 | — | 2 | (12 | ) | (1 | ) | 92 | 9 | |||||||||||||||||||||
| Total net increase (decrease) | $ | 574,494 | 53,210 | $ | 12,864 | 1,199 | $ | (69,299 | ) | (6,407 | ) | $ | 518,059 | 48,002 | ||||||||||||||||||
| For the period May 18, 20123 to October 31, 2012 | ||||||||||||||||||||||||||||||||
| Class A | $ | 332,993 | 32,028 | $ | 1,532 | 146 | $ | (33,168 | ) | (3,164 | ) | $ | 301,357 | 29,010 | ||||||||||||||||||
| Class B | 2,768 | 267 | 13 | 1 | (363 | ) | (34 | ) | 2,418 | 234 | ||||||||||||||||||||||
| Class C | 57,660 | 5,532 | 247 | 24 | (1,337 | ) | (127 | ) | 56,570 | 5,429 | ||||||||||||||||||||||
| Class F-1 | 17,872 | 1,718 | 96 | 9 | (221 | ) | (21 | ) | 17,747 | 1,706 | ||||||||||||||||||||||
| Class F-2 | 10,035 | 956 | 42 | 4 | (309 | ) | (29 | ) | 9,768 | 931 | ||||||||||||||||||||||
| Class 529-A | 13,212 | 1,268 | 70 | 7 | (425 | ) | (41 | ) | 12,857 | 1,234 | ||||||||||||||||||||||
| Class 529-B | 337 | 33 | 1 | — | 2 | (6 | ) | (1 | ) | 332 | 32 | |||||||||||||||||||||
| Class 529-C | 9,277 | 889 | 40 | 4 | (512 | ) | (49 | ) | 8,805 | 844 | ||||||||||||||||||||||
| Class 529-E | 852 | 82 | 5 | — | 2 | (14 | ) | (1 | ) | 843 | 81 | |||||||||||||||||||||
| Class 529-F-1 | 447 | 43 | 3 | — | 2 | — | — | 450 | 43 | |||||||||||||||||||||||
| Class R-1 | 160 | 15 | 1 | — | 2 | (10 | ) | (1 | ) | 151 | 14 | |||||||||||||||||||||
| Class R-2 | 2,018 | 192 | 6 | 1 | (9 | ) | (1 | ) | 2,015 | 192 | ||||||||||||||||||||||
| Class R-3 | 1,835 | 174 | 9 | 1 | (3 | ) | — | 2 | 1,841 | 175 | ||||||||||||||||||||||
| Class R-4 | 870 | 82 | 5 | 1 | — | — | 875 | 83 | ||||||||||||||||||||||||
| Class R-5 | 5,266 | 507 | 32 | 3 | (59 | ) | (6 | ) | 5,239 | 504 | ||||||||||||||||||||||
| Class R-6 | 48 | 4 | — | 2 | — | 2 | (1 | ) | — | 2 | 47 | 4 | ||||||||||||||||||||
| Total net increase (decrease) | $ | 455,650 | 43,790 | $ | 2,102 | 201 | $ | (36,437 | ) | (3,475 | ) | $ | 421,315 | 40,516 | ||||||||||||||||||
| 34 | American Funds Portfolio Series |
| Sales1 | Reinvestments of dividends and distributions | Repurchases1 | Net increase | |||||||||||||||||||||||||||||
| Share class | Amount | Shares | Amount | Shares | Amount | Shares | Amount | Shares | ||||||||||||||||||||||||
| Tax-Advantaged Income Portfolio | ||||||||||||||||||||||||||||||||
| Six months ended April 30, 2013 | ||||||||||||||||||||||||||||||||
| Class A | $ | 91,904 | 8,367 | $ | 1,567 | 143 | $ | (5,170 | ) | (468 | ) | $ | 88,301 | 8,042 | ||||||||||||||||||
| Class B | 122 | 11 | 1 | — | (18 | ) | (1 | ) | 105 | 10 | ||||||||||||||||||||||
| Class C | 9,728 | 885 | 129 | 12 | (976 | ) | (89 | ) | 8,881 | 808 | ||||||||||||||||||||||
| Class F-1 | 5,142 | 463 | 54 | 5 | (742 | ) | (68 | ) | 4,454 | 400 | ||||||||||||||||||||||
| Class F-2 | 2,077 | 188 | 30 | 3 | (24 | ) | (2 | ) | 2,083 | 189 | ||||||||||||||||||||||
| Total net increase (decrease) | $ | 108,973 | 9,914 | $ | 1,781 | 163 | $ | (6,930 | ) | (628 | ) | $ | 103,824 | 9,449 | ||||||||||||||||||
| For the period May 18, 20123 to October 31, 2012 | ||||||||||||||||||||||||||||||||
| Class A | $ | 90,125 | 8,724 | $ | 297 | 28 | $ | (26,972 | ) | (2,547 | ) | $ | 63,450 | 6,205 | ||||||||||||||||||
| Class B | 82 | 8 | — | 2 | — | 2 | (12 | ) | (1 | ) | 70 | 7 | ||||||||||||||||||||
| Class C | 8,001 | 763 | 29 | 3 | (596 | ) | (56 | ) | 7,434 | 710 | ||||||||||||||||||||||
| Class F-1 | 2,948 | 282 | 14 | 2 | (137 | ) | (13 | ) | 2,825 | 271 | ||||||||||||||||||||||
| Class F-2 | 1,409 | 135 | 5 | — | 2 | (1 | ) | — | 2 | 1,413 | 135 | |||||||||||||||||||||
| Total net increase (decrease) | $ | 102,565 | 9,912 | $ | 345 | 33 | $ | (27,718 | ) | (2,617 | ) | $ | 75,192 | 7,328 | ||||||||||||||||||
See page 37 for footnotes.
| American Funds Portfolio Series | 35 |
| Sales1 | Reinvestments of dividends | Repurchases1 | Net increase | |||||||||||||||||||||||||||||
| Share class | Amount | Shares | Amount | Shares | Amount | Shares | Amount | Shares | ||||||||||||||||||||||||
| Preservation Portfolio | ||||||||||||||||||||||||||||||||
| Six months ended April 30, 2013 | ||||||||||||||||||||||||||||||||
| Class A | $ | 225,505 | 22,417 | $ | 1,447 | 144 | $ | (73,976 | ) | (7,362 | ) | $ | 152,976 | 15,199 | ||||||||||||||||||
| Class B | 1,991 | 198 | 5 | 1 | (1,052 | ) | (105 | ) | 944 | 94 | ||||||||||||||||||||||
| Class C | 36,290 | 3,612 | 106 | 10 | (10,244 | ) | (1,020 | ) | 26,152 | 2,602 | ||||||||||||||||||||||
| Class F-1 | 4,319 | 430 | 41 | 4 | (2,884 | ) | (287 | ) | 1,476 | 147 | ||||||||||||||||||||||
| Class F-2 | 5,498 | 547 | 34 | 3 | (2,515 | ) | (250 | ) | 3,017 | 300 | ||||||||||||||||||||||
| Class 529-A | 16,016 | 1,593 | 137 | 14 | (3,059 | ) | (305 | ) | 13,094 | 1,302 | ||||||||||||||||||||||
| Class 529-B | 284 | 28 | 1 | — | 2 | (239 | ) | (24 | ) | 46 | 4 | |||||||||||||||||||||
| Class 529-C | 8,575 | 853 | 22 | 2 | (1,538 | ) | (153 | ) | 7,059 | 702 | ||||||||||||||||||||||
| Class 529-E | 1,349 | 134 | 8 | 1 | (367 | ) | (37 | ) | 990 | 98 | ||||||||||||||||||||||
| Class 529-F-1 | 927 | 92 | 7 | 1 | (38 | ) | (4 | ) | 896 | 89 | ||||||||||||||||||||||
| Class R-1 | 1,098 | 109 | 2 | — | 2 | (632 | ) | (63 | ) | 468 | 46 | |||||||||||||||||||||
| Class R-2 | 5,164 | 514 | 6 | 1 | (1,594 | ) | (159 | ) | 3,576 | 356 | ||||||||||||||||||||||
| Class R-3 | 8,612 | 856 | 12 | 1 | (5,665 | ) | (563 | ) | 2,959 | 294 | ||||||||||||||||||||||
| Class R-4 | 1,589 | 157 | 8 | 1 | (618 | ) | (61 | ) | 979 | 97 | ||||||||||||||||||||||
| Class R-5 | 1,613 | 160 | 26 | 3 | (1,388 | ) | (138 | ) | 251 | 25 | ||||||||||||||||||||||
| Class R-6 | 416 | 42 | 2 | — | 2 | (11 | ) | (1 | ) | 407 | 41 | |||||||||||||||||||||
| Total net increase (decrease) | $ | 319,246 | 31,742 | $ | 1,864 | 186 | $ | (105,820 | ) | (10,532 | ) | $ | 215,290 | 21,396 | ||||||||||||||||||
| For the period May 18, 20123 to October 31, 2012 | ||||||||||||||||||||||||||||||||
| Class A | $ | 197,273 | 19,619 | $ | 343 | 34 | $ | (34,768 | ) | (3,449 | ) | $ | 162,848 | 16,204 | ||||||||||||||||||
| Class B | 1,752 | 174 | 1 | — | 2 | (154 | ) | (15 | ) | 1,599 | 159 | |||||||||||||||||||||
| Class C | 34,032 | 3,385 | 30 | 3 | (1,437 | ) | (143 | ) | 32,625 | 3,245 | ||||||||||||||||||||||
| Class F-1 | 7,875 | 783 | 14 | 1 | (1,105 | ) | (110 | ) | 6,784 | 674 | ||||||||||||||||||||||
| Class F-2 | 3,561 | 354 | 12 | 1 | (538 | ) | (53 | ) | 3,035 | 302 | ||||||||||||||||||||||
| Class 529-A | 17,555 | 1,746 | 40 | 4 | (832 | ) | (83 | ) | 16,763 | 1,667 | ||||||||||||||||||||||
| Class 529-B | 631 | 63 | — | 2 | — | 2 | (103 | ) | (10 | ) | 528 | 53 | ||||||||||||||||||||
| Class 529-C | 8,727 | 869 | 5 | — | 2 | (305 | ) | (30 | ) | 8,427 | 839 | |||||||||||||||||||||
| Class 529-E | 1,359 | 135 | 3 | — | 2 | (17 | ) | (1 | ) | 1,345 | 134 | |||||||||||||||||||||
| Class 529-F-1 | 732 | 73 | 2 | — | 2 | (50 | ) | (5 | ) | 684 | 68 | |||||||||||||||||||||
| Class R-1 | 270 | 27 | — | 2 | — | 2 | — | — | 270 | 27 | ||||||||||||||||||||||
| Class R-2 | 1,407 | 140 | 2 | — | 2 | (8 | ) | (1 | ) | 1,401 | 139 | |||||||||||||||||||||
| Class R-3 | 251 | 25 | 1 | — | 2 | (7 | ) | (1 | ) | 245 | 24 | |||||||||||||||||||||
| Class R-4 | 271 | 27 | — | 2 | — | 2 | — | 2 | — | 2 | 271 | 27 | ||||||||||||||||||||
| Class R-5 | 4,041 | 402 | 13 | 1 | (687 | ) | (68 | ) | 3,367 | 335 | ||||||||||||||||||||||
| Class R-6 | 23 | 2 | — | 2 | — | 2 | — | — | 23 | 2 | ||||||||||||||||||||||
| Total net increase (decrease) | $ | 279,760 | 27,824 | $ | 466 | 44 | $ | (40,011 | ) | (3,969 | ) | $ | 240,215 | 23,899 | ||||||||||||||||||
| 36 | American Funds Portfolio Series |
| Sales1 | Reinvestments of dividends | epurchases1 | Net increase | |||||||||||||||||||||||||||||
| Share class | Amount | Shares | Amount | Shares | Amount | Shares | Amount | Shares | ||||||||||||||||||||||||
| Tax-Exempt Preservation Portfolio | ||||||||||||||||||||||||||||||||
| Six months ended April 30, 2013 | ||||||||||||||||||||||||||||||||
| Class A | $ | 85,883 | 8,466 | $ | 1,381 | 137 | $ | (22,353 | ) | (2,207 | ) | $ | 64,911 | 6,396 | ||||||||||||||||||
| Class B | 101 | 10 | 1 | — | (62 | ) | (6 | ) | 40 | 4 | ||||||||||||||||||||||
| Class C | 24,281 | 2,396 | 306 | 30 | (4,179 | ) | (413 | ) | 20,408 | 2,013 | ||||||||||||||||||||||
| Class F-1 | 4,845 | 478 | 122 | 12 | (3,414 | ) | (336 | ) | 1,553 | 154 | ||||||||||||||||||||||
| Class F-2 | 6,691 | 659 | 186 | 18 | (3,562 | ) | (352 | ) | 3,315 | 325 | ||||||||||||||||||||||
| Total net increase (decrease) | $ | 121,801 | 12,009 | $ | 1,996 | 197 | $ | (33,570 | ) | (3,314 | ) | $ | 90,227 | 8,892 | ||||||||||||||||||
| For the period May 18, 20123 to October 31, 2012 | ||||||||||||||||||||||||||||||||
| Class A | $ | 99,451 | 9,897 | $ | 354 | 35 | $ | (29,058 | ) | (2,879 | ) | $ | 70,747 | 7,053 | ||||||||||||||||||
| Class B | 117 | 12 | — | 2 | — | 2 | (17 | ) | (2 | ) | 100 | 10 | ||||||||||||||||||||
| Class C | 22,490 | 2,237 | 78 | 8 | (522 | ) | (52 | ) | 22,046 | 2,193 | ||||||||||||||||||||||
| Class F-1 | 9,392 | 933 | 41 | 4 | (338 | ) | (33 | ) | 9,095 | 904 | ||||||||||||||||||||||
| Class F-2 | 12,843 | 1,275 | 58 | 6 | (922 | ) | (91 | ) | 11,979 | 1,190 | ||||||||||||||||||||||
| Total net increase (decrease) | $ | 144,293 | 14,354 | $ | 531 | 53 | $ | (30,857 | ) | (3,057 | ) | $ | 113,967 | 11,350 | ||||||||||||||||||
| 1 | Includes exchanges between share classes of the fund. |
| 2 | Amount less than one thousand. |
| 3 | Commencement of operations. |
| American Funds Portfolio Series | 37 |
Financial highlights
| Income from investment operations1 | Dividends and distributions | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Period ended | Net asset value, beginning of period | Net investment income (loss) | Net gains 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 return2,3 | Net assets, end of period (in thousands) | Ratio of expenses to average net assets before reimbursements/ waivers4 | Ratio of expenses to average net assets after reimbursements/ waivers3,4 | Net effective expense ratio5 | Ratio of net income (loss) to average net assets3 | ||||||||||||||||||||||||||||||||||||||||||
| American Funds Global Growth Portfolio | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Class A: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | $ | 11.17 | $ | .09 | $ | 1.47 | $ | 1.56 | $ | (.14 | ) | $ | (.01 | ) | $ | (.15 | ) | $ | 12.58 | 14.03 | % | $ | 193,702 | .63 | %8 | .53 | %8 | 1.03 | %8 | 1.56 | %8 | |||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .03 | 1.14 | 1.17 | — | — | — | 11.17 | 11.70 | 53,354 | .25 | .20 | .71 | .29 | ||||||||||||||||||||||||||||||||||||||||||
| Class B: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 11.13 | .05 | 1.47 | 1.52 | (.11 | ) | (.01 | ) | (.12 | ) | 12.53 | 13.70 | 1,172 | 1.37 | 8 | 1.27 | 8 | 1.77 | 8 | .79 | 8 | |||||||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | (.01 | ) | 1.14 | 1.13 | — | — | — | 11.13 | 11.30 | 485 | .56 | .51 | 1.02 | (.08 | ) | ||||||||||||||||||||||||||||||||||||||||
| Class C: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 11.13 | .04 | 1.47 | 1.51 | (.12 | ) | (.01 | ) | (.13 | ) | 12.51 | 13.73 | 31,801 | 1.36 | 8 | 1.26 | 8 | 1.76 | 8 | .75 | 8 | |||||||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | (.02 | ) | 1.15 | 1.13 | — | — | — | 11.13 | 11.30 | 7,627 | .56 | .51 | 1.02 | (.17 | ) | ||||||||||||||||||||||||||||||||||||||||
| Class F-1: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 11.17 | .05 | 1.52 | 1.57 | (.14 | ) | (.01 | ) | (.15 | ) | 12.59 | 14.17 | 12,738 | .62 | 8 | .52 | 8 | 1.02 | 8 | .82 | 8 | |||||||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .03 | 1.14 | 1.17 | — | — | — | 11.17 | 11.70 | 1,653 | .19 | .14 | .65 | .28 | ||||||||||||||||||||||||||||||||||||||||||
| Class F-2: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 11.18 | .10 | 1.48 | 1.58 | (.15 | ) | (.01 | ) | (.16 | ) | 12.60 | 14.24 | 9,363 | .37 | 8 | .27 | 8 | .77 | 8 | 1.64 | 8 | |||||||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .04 | 1.14 | 1.18 | — | — | — | 11.18 | 11.80 | 1,196 | .11 | .06 | .57 | .37 | ||||||||||||||||||||||||||||||||||||||||||
| Class 529-A: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 11.16 | .10 | 1.47 | 1.57 | (.14 | ) | (.01 | ) | (.15 | ) | 12.58 | 14.20 | 27,133 | .60 | 8 | .50 | 8 | 1.00 | 8 | 1.72 | 8 | |||||||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .02 | 1.14 | 1.16 | — | — | — | 11.16 | 11.60 | 8,942 | .23 | .18 | .69 | .21 | ||||||||||||||||||||||||||||||||||||||||||
| Class 529-B: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 11.14 | .06 | 1.45 | 1.51 | (.11 | ) | (.01 | ) | (.12 | ) | 12.53 | 13.60 | 353 | 1.47 | 8 | 1.37 | 8 | 1.87 | 8 | 1.05 | 8 | |||||||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | (.03 | ) | 1.17 | 1.14 | — | — | — | 11.14 | 11.40 | 157 | .59 | .54 | 1.05 | (.26 | ) | ||||||||||||||||||||||||||||||||||||||||
| Class 529-C: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 11.12 | .03 | 1.49 | 1.52 | (.12 | ) | (.01 | ) | (.13 | ) | 12.51 | 13.69 | 8,621 | 1.46 | 8 | 1.36 | 8 | 1.86 | 8 | .55 | 8 | |||||||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | (.02 | ) | 1.14 | 1.12 | — | — | — | 11.12 | 11.20 | 2,000 | .60 | .56 | 1.07 | (.18 | ) | ||||||||||||||||||||||||||||||||||||||||
| Class 529-E: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 11.16 | .07 | 1.48 | 1.55 | (.13 | ) | (.01 | ) | (.14 | ) | 12.57 | 14.01 | 599 | .92 | 8 | .82 | 8 | 1.32 | 8 | 1.26 | 8 | |||||||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .01 | 1.15 | 1.16 | — | — | — | 11.16 | 11.60 | 188 | .33 | .29 | .80 | .08 | ||||||||||||||||||||||||||||||||||||||||||
| Class 529-F-1: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 11.18 | .13 | 1.44 | 1.57 | (.15 | ) | (.01 | ) | (.16 | ) | 12.59 | 14.13 | 851 | .46 | 8 | .36 | 8 | .86 | 8 | 2.15 | 8 | |||||||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .03 | 1.15 | 1.18 | — | — | — | 11.18 | 11.80 | 258 | .16 | .11 | .62 | .23 | ||||||||||||||||||||||||||||||||||||||||||
| Class R-1: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 11.14 | .06 | 1.46 | 1.52 | (.12 | ) | (.01 | ) | (.13 | ) | 12.53 | 13.67 | 299 | 1.34 | 8 | 1.24 | 8 | 1.74 | 8 | 1.07 | 8 | |||||||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | — | 10 | 1.14 | 1.14 | — | — | — | 11.14 | 11.40 | 134 | .51 | .47 | .98 | (.04 | ) | ||||||||||||||||||||||||||||||||||||||||
| Class R-2: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 11.15 | — | 10 | 1.51 | 1.51 | (.13 | ) | (.01 | ) | (.14 | ) | 12.52 | 13.63 | 2,904 | 1.45 | 8 | 1.35 | 8 | 1.85 | 8 | (.06 | )8 | ||||||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | (.02 | ) | 1.17 | 1.15 | — | — | — | 11.15 | 11.50 | 445 | .47 | .42 | .93 | (.21 | ) | ||||||||||||||||||||||||||||||||||||||||
| Class R-3: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 11.16 | .04 | 1.51 | 1.55 | (.14 | ) | (.01 | ) | (.15 | ) | 12.56 | 13.97 | 3,709 | .90 | 8 | .80 | 8 | 1.30 | 8 | .74 | 8 | |||||||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .04 | 1.12 | 1.16 | — | — | — | 11.16 | 11.60 | 227 | .33 | .29 | .80 | .39 | ||||||||||||||||||||||||||||||||||||||||||
| Class R-4: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 11.18 | .12 | 1.45 | 1.57 | (.15 | ) | (.01 | ) | (.16 | ) | 12.59 | 14.12 | 913 | .64 | 8 | .54 | 8 | 1.04 | 8 | 2.04 | 8 | |||||||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | — | 10 | 1.18 | 1.18 | — | — | — | 11.18 | 11.80 | 318 | .21 | .16 | .67 | (.02 | ) | ||||||||||||||||||||||||||||||||||||||||
| Class R-5: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 11.18 | .14 | 1.45 | 1.59 | (.15 | ) | (.01 | ) | (.16 | ) | 12.61 | 14.33 | 14,009 | .30 | 8 | .20 | 8 | .70 | 8 | 2.41 | 8 | |||||||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .03 | 1.15 | 1.18 | — | — | — | 11.18 | 11.80 | 10,674 | .10 | .05 | .56 | .30 | ||||||||||||||||||||||||||||||||||||||||||
| Class R-6: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 11.17 | .03 | 1.56 | 1.59 | (.09 | ) | (.01 | ) | (.10 | ) | 12.66 | 14.30 | 1,315 | .30 | 8 | .20 | 8 | .70 | 8 | .49 | 8 | |||||||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .05 | 1.12 | 1.17 | — | — | — | 11.17 | 11.70 | 18 | .13 | .08 | .59 | .52 | ||||||||||||||||||||||||||||||||||||||||||
| 38 | American Funds Portfolio Series |
| Income from investment operations1 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Period ended | Net asset value, beginning of period | Net investment income (loss) | Net gains on securities (both realized and unrealized) | Total from investment operations | Dividends (from net investment income) | Net asset value, end of period | Total return2,3 | Net assets, end of period (in thousands) | Ratio of expenses to average net assets before reimbursements/ waivers4 | Ratio of expenses to average net assets after reimbursements/ waivers3,4 | Net effective expense ratio5 | Ratio of net income (loss) to average net assets3 | ||||||||||||||||||||||||||||||||||||
| American Funds Growth Portfolio | ||||||||||||||||||||||||||||||||||||||||||||||||
| Class A: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | $ | 11.02 | $ | .08 | $ | 1.50 | $ | 1.58 | $ | (.11 | ) | $ | 12.49 | 14.44 | % | $ | 331,909 | .57 | %8 | .47 | %8 | .91 | %8 | 1.32 | %8 | |||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .02 | 1.00 | 1.02 | — | 11.02 | 10.20 | 108,024 | .24 | .19 | .64 | .15 | ||||||||||||||||||||||||||||||||||||
| Class B: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.98 | .04 | 1.50 | 1.54 | (.09 | ) | 12.43 | 14.07 | 3,176 | 1.31 | 8 | 1.21 | 8 | 1.65 | 8 | .67 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | (.02 | ) | 1.00 | .98 | — | 10.98 | 9.80 | 1,427 | .55 | .51 | .96 | (.23 | ) | ||||||||||||||||||||||||||||||||||
| Class C: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.98 | .03 | 1.51 | 1.54 | (.09 | ) | 12.43 | 14.11 | 52,733 | 1.30 | 8 | 1.20 | 8 | 1.64 | 8 | .49 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | (.03 | ) | 1.01 | .98 | — | 10.98 | 9.80 | 14,284 | .55 | .50 | .95 | (.27 | ) | ||||||||||||||||||||||||||||||||||
| Class F-1: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 11.02 | .08 | 1.50 | 1.58 | (.11 | ) | 12.49 | 14.48 | 9,492 | .56 | 8 | .46 | 8 | .90 | 8 | 1.33 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .02 | 1.00 | 1.02 | — | 11.02 | 10.20 | 3,161 | .19 | .15 | .60 | .19 | ||||||||||||||||||||||||||||||||||||
| Class F-2: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 11.03 | .05 | 1.55 | 1.60 | (.12 | ) | 12.51 | 14.64 | 17,903 | .32 | 8 | .22 | 8 | .66 | 8 | .87 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .03 | 1.00 | 1.03 | — | 11.03 | 10.30 | 1,851 | .09 | .05 | .50 | .27 | ||||||||||||||||||||||||||||||||||||
| Class 529-A: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 11.01 | .08 | 1.51 | 1.59 | (.11 | ) | 12.49 | 14.55 | 52,022 | .51 | 8 | .41 | 8 | .85 | 8 | 1.44 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .01 | 1.00 | 1.01 | — | 11.01 | 10.10 | 20,903 | .23 | .18 | .63 | .09 | ||||||||||||||||||||||||||||||||||||
| Class 529-B: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.98 | .05 | 1.48 | 1.53 | (.07 | ) | 12.44 | 14.03 | 620 | 1.41 | 8 | 1.31 | 8 | 1.75 | 8 | .79 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | (.02 | ) | 1.00 | .98 | — | 10.98 | 9.80 | 507 | .59 | .55 | 1.00 | (.23 | ) | ||||||||||||||||||||||||||||||||||
| Class 529-C: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.98 | .03 | 1.49 | 1.52 | (.08 | ) | 12.42 | 13.95 | 19,986 | 1.40 | 8 | 1.30 | 8 | 1.74 | 8 | .54 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | (.03 | ) | 1.01 | .98 | — | 10.98 | 9.80 | 8,041 | .60 | .55 | 1.00 | (.30 | ) | ||||||||||||||||||||||||||||||||||
| Class 529-E: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 11.00 | .07 | 1.50 | 1.57 | (.11 | ) | 12.46 | 14.37 | 2,328 | .87 | 8 | .77 | 8 | 1.21 | 8 | 1.19 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | (.01 | ) | 1.01 | 1.00 | — | 11.00 | 10.00 | 657 | .35 | .30 | .75 | (.05 | ) | ||||||||||||||||||||||||||||||||||
| Class 529-F-1: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 11.03 | .10 | 1.49 | 1.59 | (.12 | ) | 12.50 | 14.61 | 2,084 | .40 | 8 | .30 | 8 | .74 | 8 | 1.68 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .02 | 1.01 | 1.03 | — | 11.03 | 10.20 | 969 | .14 | .10 | .55 | .16 | ||||||||||||||||||||||||||||||||||||
| Class R-1: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.99 | .06 | 1.48 | 1.54 | (.09 | ) | 12.44 | 14.13 | 1,535 | 1.31 | 8 | 1.21 | 8 | 1.65 | 8 | .98 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | (.04 | ) | 1.03 | .99 | — | 10.99 | 9.90 | 752 | .56 | .51 | .96 | (.34 | ) | ||||||||||||||||||||||||||||||||||
| Class R-2: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 11.00 | .02 | 1.52 | 1.54 | (.10 | ) | 12.44 | 14.06 | 5,603 | 1.36 | 8 | 1.26 | 8 | 1.70 | 8 | .42 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | (.03 | ) | 1.03 | 1.00 | — | 11.00 | 10.00 | 1,509 | .48 | .44 | .89 | (.27 | ) | ||||||||||||||||||||||||||||||||||
| Class R-3: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 11.01 | .01 | 1.56 | 1.57 | (.10 | ) | 12.48 | 14.37 | 5,964 | .84 | 8 | .74 | 8 | 1.18 | 8 | .15 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .02 | .99 | 1.01 | — | 11.01 | 10.10 | 505 | .32 | .27 | .72 | .19 | ||||||||||||||||||||||||||||||||||||
| Class R-4: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 11.03 | .08 | 1.50 | 1.58 | (.12 | ) | 12.49 | 14.43 | 1,002 | .59 | 8 | .49 | 8 | .93 | 8 | 1.39 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | — | 10 | 1.03 | 1.03 | — | 11.03 | 10.30 | 227 | .18 | .13 | .58 | .04 | |||||||||||||||||||||||||||||||||||
| Class R-5: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 11.03 | .11 | 1.50 | 1.61 | (.12 | ) | 12.52 | 14.73 | 11,706 | .25 | 8 | .15 | 8 | .59 | 8 | 1.93 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .03 | 1.00 | 1.03 | — | 11.03 | 10.30 | 8,737 | .09 | .04 | .49 | .24 | ||||||||||||||||||||||||||||||||||||
| Class R-6: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 11.03 | .05 | 1.55 | 1.60 | (.11 | ) | 12.52 | 14.65 | 631 | .25 | 8 | .15 | 8 | .59 | 8 | .89 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .05 | .98 | 1.03 | — | 11.03 | 10.30 | 71 | .12 | .07 | .52 | .46 | ||||||||||||||||||||||||||||||||||||
See page 45 for footnotes.
| American Funds Portfolio Series | 39 |
Financial highlights (continued)
| Income from investment operations1 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Period ended | Net asset value, beginning of period | Net investment income | Net gains on securities (both realized and unrealized) | Total from investment operations | Dividends (from net investment income) | Net asset value, end of period | Total return2,3 | Net assets, end of period (in thousands) | Ratio of expenses to average net assets before reimbursements/ waivers4 | Ratio of expenses to average net assets after reimbursements/ waivers3,4 | Net effective expense ratio5 | Ratio of net income to average net assets3 | ||||||||||||||||||||||||||||||||||||
| American Funds Growth and Income Portfolio | ||||||||||||||||||||||||||||||||||||||||||||||||
| Class A: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | $ | 10.88 | $ | .15 | $ | 1.09 | $ | 1.24 | $ | (.18 | ) | $ | 11.94 | 11.48 | % | $ | 826,573 | .52 | %8 | .42 | %8 | .79 | %8 | 2.59 | %8 | |||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .09 | .87 | .96 | (.08 | ) | 10.88 | 9.63 | 299,962 | .23 | .18 | .56 | .89 | |||||||||||||||||||||||||||||||||||
| Class B: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.86 | .11 | 1.09 | 1.20 | (.14 | ) | 11.92 | 11.14 | 7,354 | 1.27 | 8 | 1.17 | 8 | 1.54 | 8 | 1.94 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .06 | .87 | .93 | (.07 | ) | 10.86 | 9.30 | 3,761 | .55 | .50 | .88 | .59 | |||||||||||||||||||||||||||||||||||
| Class C: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.86 | .10 | 1.10 | 1.20 | (.15 | ) | 11.91 | 11.11 | 123,912 | 1.25 | 8 | 1.15 | 8 | 1.52 | 8 | 1.81 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .06 | .87 | .93 | (.07 | ) | 10.86 | 9.30 | 39,558 | .54 | .50 | .88 | .53 | |||||||||||||||||||||||||||||||||||
| Class F-1: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.88 | .15 | 1.10 | 1.25 | (.18 | ) | 11.95 | 11.57 | 15,595 | .52 | 8 | .42 | 8 | .79 | 8 | 2.67 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .08 | .88 | .96 | (.08 | ) | 10.88 | 9.66 | 6,749 | .20 | .15 | .53 | .79 | |||||||||||||||||||||||||||||||||||
| Class F-2: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.89 | .15 | 1.10 | 1.25 | (.19 | ) | 11.95 | 11.60 | 14,588 | .27 | 8 | .17 | 8 | .54 | 8 | 2.72 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .11 | .87 | .98 | (.09 | ) | 10.89 | 9.81 | 4,114 | .09 | .04 | .42 | 1.06 | |||||||||||||||||||||||||||||||||||
| Class 529-A: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.88 | .15 | 1.08 | 1.23 | (.17 | ) | 11.94 | 11.46 | 84,331 | .54 | 8 | .44 | 8 | .81 | 8 | 2.61 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .09 | .87 | .96 | (.08 | ) | 10.88 | 9.61 | 35,800 | .26 | .22 | .60 | .84 | |||||||||||||||||||||||||||||||||||
| Class 529-B: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.86 | .11 | 1.08 | 1.19 | (.13 | ) | 11.92 | 11.09 | 1,060 | 1.37 | 8 | 1.27 | 8 | 1.64 | 8 | 1.92 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .06 | .86 | .92 | (.06 | ) | 10.86 | 9.25 | 604 | .59 | .54 | .92 | .53 | |||||||||||||||||||||||||||||||||||
| Class 529-C: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.86 | .10 | 1.09 | 1.19 | (.14 | ) | 11.91 | 11.04 | 37,084 | 1.36 | 8 | 1.26 | 8 | 1.63 | 8 | 1.77 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .05 | .88 | .93 | (.07 | ) | 10.86 | 9.29 | 14,675 | .59 | .54 | .92 | .49 | |||||||||||||||||||||||||||||||||||
| Class 529-E: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.87 | .12 | 1.10 | 1.22 | (.16 | ) | 11.93 | 11.37 | 3,669 | .83 | 8 | .73 | 8 | 1.10 | 8 | 2.16 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .07 | .88 | .95 | (.08 | ) | 10.87 | 9.52 | 1,115 | .34 | .30 | .68 | .63 | |||||||||||||||||||||||||||||||||||
| Class 529-F-1: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.89 | .16 | 1.08 | 1.24 | (.18 | ) | 11.95 | 11.54 | 3,627 | .36 | 8 | .26 | 8 | .63 | 8 | 2.82 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .10 | .87 | .97 | (.08 | ) | 10.89 | 9.78 | 1,331 | .14 | .09 | .47 | .89 | |||||||||||||||||||||||||||||||||||
| Class R-1: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.86 | .10 | 1.10 | 1.20 | (.15 | ) | 11.91 | 11.14 | 2,804 | 1.29 | 8 | 1.19 | 8 | 1.56 | 8 | 1.70 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .08 | .85 | .93 | (.07 | ) | 10.86 | 9.28 | 816 | .54 | .50 | .88 | .79 | |||||||||||||||||||||||||||||||||||
| Class R-2: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.86 | .08 | 1.12 | 1.20 | (.15 | ) | 11.91 | 11.17 | 8,600 | 1.29 | 8 | 1.19 | 8 | 1.56 | 8 | 1.34 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .06 | .87 | .93 | (.07 | ) | 10.86 | 9.38 | 1,484 | .48 | .43 | .81 | .52 | |||||||||||||||||||||||||||||||||||
| Class R-3: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.87 | .13 | 1.09 | 1.22 | (.17 | ) | 11.92 | 11.34 | 7,856 | .82 | 8 | .72 | 8 | 1.09 | 8 | 2.25 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .12 | .83 | .95 | (.08 | ) | 10.87 | 9.52 | 1,298 | .31 | .27 | .65 | 1.09 | |||||||||||||||||||||||||||||||||||
| Class R-4: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.89 | .14 | 1.10 | 1.24 | (.18 | ) | 11.95 | 11.54 | 968 | .46 | 8 | .36 | 8 | .73 | 8 | 2.52 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .11 | .86 | .97 | (.08 | ) | 10.89 | 9.78 | 93 | .16 | .11 | .49 | 1.02 | |||||||||||||||||||||||||||||||||||
| Class R-5: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.89 | .17 | 1.09 | 1.26 | (.19 | ) | 11.96 | 11.70 | 14,829 | .22 | 8 | .12 | 8 | .49 | 8 | 3.12 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .10 | .88 | .98 | (.09 | ) | 10.89 | 9.81 | 11,519 | .08 | .03 | .41 | .96 | |||||||||||||||||||||||||||||||||||
| Class R-6: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.89 | .17 | 1.08 | 1.25 | (.19 | ) | 11.95 | 11.59 | 277 | .23 | 8 | .13 | 8 | .50 | 8 | 3.07 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .11 | .86 | .97 | (.08 | ) | 10.89 | 9.78 | 49 | .14 | .10 | .48 | 1.02 | |||||||||||||||||||||||||||||||||||
| 40 | American Funds Portfolio Series |
| Income from investment operations1 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Period ended | Net asset value, beginning of period | Net investment income | Net gains on securities (both realized and unrealized) | Total from investment operations | Dividends (from net investment income) | Net asset value, end of period | Total return2,3 | Net assets, end of period (in thousands) | Ratio of expenses to average net assets before reimbursements/ waivers4 | Ratio of expenses to average net assets after reimbursements/ waivers3,4 | Net effective expense ratio5 | Ratio of net income to average net assets3 | ||||||||||||||||||||||||||||||||||||
| American Funds Balanced Portfolio | ||||||||||||||||||||||||||||||||||||||||||||||||
| Class A: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | $ | 10.80 | $ | .11 | $ | .97 | $ | 1.08 | $ | (.12 | ) | $ | 11.76 | 10.05 | % | $ | 640,545 | .56 | %8 | .46 | %8 | .80 | %8 | 1.95 | %8 | |||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .08 | .78 | .86 | (.06 | ) | 10.80 | 8.62 | 238,580 | .23 | .18 | .53 | .73 | |||||||||||||||||||||||||||||||||||
| Class B: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.78 | .07 | .97 | 1.04 | (.08 | ) | 11.74 | 9.70 | 5,356 | 1.28 | 8 | 1.18 | 8 | 1.52 | 8 | 1.31 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .04 | .79 | .83 | (.05 | ) | 10.78 | 8.29 | 3,190 | .55 | .50 | .85 | .37 | |||||||||||||||||||||||||||||||||||
| Class C: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.78 | .07 | .97 | 1.04 | (.09 | ) | 11.73 | 9.68 | 115,258 | 1.27 | 8 | 1.17 | 8 | 1.51 | 8 | 1.22 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .04 | .79 | .83 | (.05 | ) | 10.78 | 8.30 | 40,201 | .54 | .50 | .85 | .37 | |||||||||||||||||||||||||||||||||||
| Class F-1: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.80 | .10 | .98 | 1.08 | (.12 | ) | 11.76 | 10.09 | 23,564 | .53 | 8 | .43 | 8 | .77 | 8 | 1.74 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .08 | .78 | .86 | (.06 | ) | 10.80 | 8.64 | 4,298 | .19 | .15 | .50 | .79 | |||||||||||||||||||||||||||||||||||
| Class F-2: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.81 | .12 | .97 | 1.09 | (.13 | ) | 11.77 | 10.18 | 17,502 | .28 | 8 | .18 | 8 | .52 | 8 | 2.19 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .09 | .79 | .88 | (.07 | ) | 10.81 | 8.80 | 6,126 | .09 | .04 | .39 | .88 | |||||||||||||||||||||||||||||||||||
| Class 529-A: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.79 | .11 | .98 | 1.09 | (.12 | ) | 11.76 | 10.13 | 65,355 | .52 | 8 | .42 | 8 | .76 | 8 | 2.06 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .07 | .78 | .85 | (.06 | ) | 10.79 | 8.51 | 34,148 | .27 | .23 | .58 | .66 | |||||||||||||||||||||||||||||||||||
| Class 529-B: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.78 | .06 | .97 | 1.03 | (.07 | ) | 11.74 | 9.64 | 859 | 1.38 | 8 | 1.28 | 8 | 1.62 | 8 | 1.14 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .04 | .78 | .82 | (.04 | ) | 10.78 | 8.25 | 495 | .59 | .54 | .89 | .38 | |||||||||||||||||||||||||||||||||||
| Class 529-C: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.78 | .07 | .96 | 1.03 | (.08 | ) | 11.73 | 9.60 | 29,241 | 1.37 | 8 | 1.27 | 8 | 1.61 | 8 | 1.19 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .04 | .78 | .82 | (.04 | ) | 10.78 | 8.25 | 14,126 | .59 | .55 | .90 | .33 | |||||||||||||||||||||||||||||||||||
| Class 529-E: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.79 | .10 | .97 | 1.07 | (.11 | ) | 11.75 | 9.95 | 2,315 | .83 | 8 | .73 | 8 | 1.07 | 8 | 1.73 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .06 | .79 | .85 | (.06 | ) | 10.79 | 8.49 | 876 | .35 | .30 | .65 | .61 | |||||||||||||||||||||||||||||||||||
| Class 529-F-1: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.80 | .13 | .97 | 1.10 | (.13 | ) | 11.77 | 10.22 | 2,754 | .37 | 8 | .27 | 8 | .61 | 8 | 2.36 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .09 | .77 | .86 | (.06 | ) | 10.80 | 8.67 | 1,353 | .14 | .09 | .44 | .85 | |||||||||||||||||||||||||||||||||||
| Class R-1: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.78 | .06 | .98 | 1.04 | (.09 | ) | 11.73 | 9.72 | 3,460 | 1.27 | 8 | 1.17 | 8 | 1.51 | 8 | 1.11 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .04 | .79 | .83 | (.05 | ) | 10.78 | 8.32 | 807 | .55 | .50 | .85 | .36 | |||||||||||||||||||||||||||||||||||
| Class R-2: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.79 | .06 | .97 | 1.03 | (.09 | ) | 11.73 | 9.62 | 9,167 | 1.31 | 8 | 1.21 | 8 | 1.55 | 8 | 1.13 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .04 | .81 | .85 | (.06 | ) | 10.79 | 8.50 | 2,552 | .48 | .44 | .79 | .40 | |||||||||||||||||||||||||||||||||||
| Class R-3: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.79 | .09 | .97 | 1.06 | (.10 | ) | 11.75 | 9.93 | 12,891 | .86 | 8 | .76 | 8 | 1.10 | 8 | 1.56 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .10 | .75 | .85 | (.06 | ) | 10.79 | 8.53 | 4,686 | .31 | .26 | .61 | .89 | |||||||||||||||||||||||||||||||||||
| Class R-4: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.80 | .08 | 1.00 | 1.08 | (.12 | ) | 11.76 | 10.06 | 6,642 | .56 | 8 | .46 | 8 | .80 | 8 | 1.36 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .10 | .76 | .86 | (.06 | ) | 10.80 | 8.61 | 596 | .20 | .15 | .50 | .92 | |||||||||||||||||||||||||||||||||||
| Class R-5: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.81 | .13 | .96 | 1.09 | (.13 | ) | 11.77 | 10.19 | 8,662 | .22 | 8 | .12 | 8 | .46 | 8 | 2.39 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .09 | .79 | .88 | (.07 | ) | 10.81 | 8.80 | 6,741 | .08 | .03 | .38 | .83 | |||||||||||||||||||||||||||||||||||
| Class R-6: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.81 | .12 | .97 | 1.09 | (.13 | ) | 11.77 | 10.18 | 8,270 | .17 | 8 | .07 | 8 | .41 | 8 | 2.16 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .10 | .77 | .87 | (.06 | ) | 10.81 | 8.77 | 53 | .13 | .08 | .43 | .93 | |||||||||||||||||||||||||||||||||||
See page 45 for footnotes.
| American Funds Portfolio Series | 41 |
Financial highlights (continued)
| Income from investment operations1 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Period ended | Net asset value, beginning of period | Net investment income | Net gains on securities (both realized and unrealized) | Total from investment operations | Dividends (from net investment income) | Net asset value, end of period | Total return2,3 | Net assets, end of period (in thousands) | Ratio of expenses to average net assets before reimbursements/ waivers4 | Ratio of expenses to average net assets after reimbursements/ waivers3,4 | Net effective expense ratio5 | Ratio of net income to average net assets3 | ||||||||||||||||||||||||||||||||||||
| American Funds Income Portfolio | ||||||||||||||||||||||||||||||||||||||||||||||||
| Class A: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | $ | 10.57 | $ | .19 | $ | .71 | $ | .90 | $ | (.21 | ) | $ | 11.26 | 8.65 | % | $ | 718,223 | .57 | %8 | .47 | %8 | .78 | %8 | 3.48 | %8 | |||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .16 | .52 | .68 | (.11 | ) | 10.57 | 6.84 | 306,501 | .23 | .18 | .49 | 1.54 | |||||||||||||||||||||||||||||||||||
| Class B: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.55 | .15 | .71 | .86 | (.18 | ) | 11.23 | 8.22 | 4,552 | 1.29 | 8 | 1.19 | 8 | 1.50 | 8 | 2.77 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .13 | .51 | .64 | (.09 | ) | 10.55 | 6.47 | 2,472 | .55 | .50 | .81 | 1.26 | |||||||||||||||||||||||||||||||||||
| Class C: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.54 | .15 | .71 | .86 | (.18 | ) | 11.22 | 8.28 | 142,698 | 1.27 | 8 | 1.17 | 8 | 1.48 | 8 | 2.77 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .12 | .52 | .64 | (.10 | ) | 10.54 | 6.41 | 57,237 | .54 | .50 | .81 | 1.20 | |||||||||||||||||||||||||||||||||||
| Class F-1: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.57 | .19 | .71 | .90 | (.21 | ) | 11.26 | 8.64 | 29,879 | .54 | 8 | .44 | 8 | .75 | 8 | 3.62 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .16 | .52 | .68 | (.11 | ) | 10.57 | 6.85 | 18,026 | .20 | .16 | .47 | 1.50 | |||||||||||||||||||||||||||||||||||
| Class F-2: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.57 | .20 | .72 | .92 | (.22 | ) | 11.27 | 8.87 | 21,826 | .28 | 8 | .18 | 8 | .49 | 8 | 3.76 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .17 | .52 | .69 | (.12 | ) | 10.57 | 6.90 | 9,843 | .09 | .04 | .35 | 1.61 | |||||||||||||||||||||||||||||||||||
| Class 529-A: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.56 | .18 | .72 | .90 | (.21 | ) | 11.25 | 8.64 | 28,594 | .58 | 8 | .48 | 8 | .79 | 8 | 3.44 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .16 | .51 | .67 | (.11 | ) | 10.56 | 6.72 | 13,033 | .25 | .20 | .51 | 1.56 | |||||||||||||||||||||||||||||||||||
| Class 529-B: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.55 | .15 | .71 | .86 | (.17 | ) | 11.24 | 8.27 | 549 | 1.38 | 8 | 1.28 | 8 | 1.59 | 8 | 2.72 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .12 | .53 | .65 | (.10 | ) | 10.55 | 6.50 | 335 | .58 | .53 | .84 | 1.12 | |||||||||||||||||||||||||||||||||||
| Class 529-C: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.54 | .14 | .72 | .86 | (.18 | ) | 11.22 | 8.23 | 21,559 | 1.37 | 8 | 1.27 | 8 | 1.58 | 8 | 2.63 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .13 | .51 | .64 | (.10 | ) | 10.54 | 6.41 | 8,891 | .59 | .54 | .85 | 1.20 | |||||||||||||||||||||||||||||||||||
| Class 529-E: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.56 | .17 | .72 | .89 | (.20 | ) | 11.25 | 8.54 | 2,366 | .83 | 8 | .73 | 8 | 1.04 | 8 | 3.22 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .15 | .52 | .67 | (.11 | ) | 10.56 | 6.69 | 856 | .35 | .30 | .61 | 1.47 | |||||||||||||||||||||||||||||||||||
| Class 529-F-1: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.57 | .21 | .70 | .91 | (.22 | ) | 11.26 | 8.74 | 1,719 | .37 | 8 | .27 | 8 | .58 | 8 | 3.90 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .17 | .52 | .69 | (.12 | ) | 10.57 | 6.89 | 456 | .14 | .09 | .40 | 1.63 | |||||||||||||||||||||||||||||||||||
| Class R-1: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.55 | .14 | .72 | .86 | (.18 | ) | 11.23 | 8.27 | 456 | 1.29 | 8 | 1.19 | 8 | 1.50 | 8 | 2.66 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .17 | .49 | .66 | (.11 | ) | 10.55 | 6.59 | 152 | .48 | .43 | .74 | 1.63 | |||||||||||||||||||||||||||||||||||
| Class R-2: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.56 | .14 | .71 | .85 | (.18 | ) | 11.23 | 8.18 | 5,835 | 1.34 | 8 | 1.24 | 8 | 1.55 | 8 | 2.64 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .13 | .53 | .66 | (.10 | ) | 10.56 | 6.67 | 2,028 | .50 | .45 | .76 | 1.28 | |||||||||||||||||||||||||||||||||||
| Class R-3: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.56 | .16 | .73 | .89 | (.20 | ) | 11.25 | 8.52 | 5,789 | .88 | 8 | .78 | 8 | 1.09 | 8 | 2.92 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .19 | .48 | .67 | (.11 | ) | 10.56 | 6.75 | 1,844 | .31 | .26 | .57 | 1.85 | |||||||||||||||||||||||||||||||||||
| Class R-4: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.57 | .21 | .70 | .91 | (.22 | ) | 11.26 | 8.70 | 5,487 | .51 | 8 | .41 | 8 | .72 | 8 | 3.95 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .23 | .46 | .69 | (.12 | ) | 10.57 | 6.89 | 874 | .18 | .14 | .45 | 2.21 | |||||||||||||||||||||||||||||||||||
| Class R-5: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.57 | .21 | .72 | .93 | (.23 | ) | 11.27 | 8.89 | 6,284 | .22 | 8 | .12 | 8 | .43 | 8 | 3.83 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .17 | .52 | .69 | (.12 | ) | 10.57 | 6.91 | 5,329 | .08 | .03 | .34 | 1.68 | |||||||||||||||||||||||||||||||||||
| Class R-6: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.57 | .20 | .72 | .92 | (.22 | ) | 11.27 | 8.85 | 146 | .25 | 8 | .15 | 8 | .46 | 8 | 3.73 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .19 | .50 | .69 | (.12 | ) | 10.57 | 6.89 | 47 | .14 | .09 | .40 | 1.79 | |||||||||||||||||||||||||||||||||||
| 42 | American Funds Portfolio Series |
| Income from investment operations1 | Dividends and distributions | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Period ended | Net asset value, beginning of period | Net investment income | Net gains 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 return²,³ | Net assets, end of period (in thousands) | Ratio of expenses to average net assets before reimbursements/ waivers4 | Ratio of expenses to average net assets after reimbursements/ waivers³,4 | Net effective expense ratio5 | Ratio of net income to average net assets3 | ||||||||||||||||||||||||||||||||||||||||||
| American Funds Tax-Advantaged Income Portfolio | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Class A: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | $ | 10.66 | $ | .15 | $ | .78 | $ | .93 | $ | (.15 | ) | $ | (.01 | ) | $ | (.16 | ) | $ | 11.43 | 8.71 | % | $ | 162,782 | .63 | %8 | .53 | %8 | .90 | %8 | 2.78 | %8 | |||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .15 | .62 | .77 | (.11 | ) | — | (.11 | ) | 10.66 | 7.73 | 66,173 | .24 | .19 | .55 | 1.45 | ||||||||||||||||||||||||||||||||||||||||
| Class B: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.66 | .12 | .76 | .88 | (.12 | ) | (.01 | ) | (.13 | ) | 11.41 | 8.23 | 191 | 1.34 | 8 | 1.24 | 8 | 1.61 | 8 | 2.22 | 8 | |||||||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .12 | .63 | .75 | (.09 | ) | — | (.09 | ) | 10.66 | 7.51 | 74 | .52 | .48 | .84 | 1.20 | ||||||||||||||||||||||||||||||||||||||||
| Class C: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.64 | .11 | .76 | .87 | (.11 | ) | (.01 | ) | (.12 | ) | 11.39 | 8.22 | 17,293 | 1.34 | 8 | 1.24 | 8 | 1.61 | 8 | 2.07 | 8 | |||||||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .11 | .63 | .74 | (.10 | ) | — | (.10 | ) | 10.64 | 7.43 | 7,552 | .55 | .50 | .86 | 1.01 | ||||||||||||||||||||||||||||||||||||||||
| Class F-1: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.66 | .15 | .77 | .92 | (.15 | ) | (.01 | ) | (.16 | ) | 11.42 | 8.63 | 7,666 | .60 | 8 | .50 | 8 | .87 | 8 | 2.74 | 8 | |||||||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .14 | .63 | .77 | (.11 | ) | — | (.11 | ) | 10.66 | 7.79 | 2,884 | .19 | .15 | .51 | 1.30 | ||||||||||||||||||||||||||||||||||||||||
| Class F-2: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.67 | .17 | .76 | .93 | (.16 | ) | (.01 | ) | (.17 | ) | 11.43 | 8.74 | 3,701 | .35 | 8 | .25 | 8 | .62 | 8 | 3.03 | 8 | |||||||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .15 | .64 | .79 | (.12 | ) | — | (.12 | ) | 10.67 | 7.92 | 1,443 | .10 | .05 | .41 | 1.48 | ||||||||||||||||||||||||||||||||||||||||
See page 45 for footnotes.
| American Funds Portfolio Series | 43 |
Financial highlights (continued)
| Income from investment operations1 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Period ended | Net asset value, beginning of period | Net investment income | Net (losses) gains on securities (both realized and unrealized) | Total from investment operations | Dividends (from net investment income) | Net asset value, end of period | Total return²,³ | Net assets, end of period (in thousands) | Ratio of expenses to average net assets before reimbursements/ waivers4 | Ratio of expenses to average net assets after reimbursements/ waivers³,4 | Net effective expense ratio5 | Ratio of net income to average net assets³ | ||||||||||||||||||||||||||||||||||||
| American Funds Preservation Portfolio | ||||||||||||||||||||||||||||||||||||||||||||||||
| Class A: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | $ | 10.08 | $ | .06 | $ | (.01 | ) | $ | .05 | $ | (.06 | ) | $ | 10.07 | .46 | % | $ | 316,087 | .60 | %8 | .46 | %8 | .76 | %8 | 1.12 | %8 | ||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .06 | .07 | .13 | (.05 | ) | 10.08 | 1.26 | 163,334 | .23 | .19 | .50 | .60 | |||||||||||||||||||||||||||||||||||
| Class B: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.08 | .02 | (.02 | ) | — | (.02 | ) | 10.06 | .01 | 2,542 | 1.31 | 8 | 1.18 | 8 | 1.48 | 8 | .41 | 8 | ||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .03 | .07 | .10 | (.02 | ) | 10.08 | .97 | 1,602 | .55 | .51 | .82 | .28 | |||||||||||||||||||||||||||||||||||
| Class C: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.07 | .02 | (.01 | ) | .01 | (.02 | ) | 10.06 | .13 | 58,799 | 1.30 | 8 | 1.16 | 8 | 1.46 | 8 | .42 | 8 | ||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .03 | .06 | .09 | (.02 | ) | 10.07 | .93 | 32,688 | .55 | .50 | .81 | .28 | |||||||||||||||||||||||||||||||||||
| Class F-1: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.08 | .06 | (.01 | ) | .05 | (.06 | ) | 10.07 | .46 | 8,262 | .57 | 8 | .43 | 8 | .73 | 8 | 1.15 | 8 | ||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .06 | .07 | .13 | (.05 | ) | 10.08 | 1.33 | 6,796 | .20 | .15 | .46 | .63 | |||||||||||||||||||||||||||||||||||
| Class F-2: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.08 | .07 | (.01 | ) | .06 | (.07 | ) | 10.07 | .60 | 6,056 | .32 | 8 | .17 | 8 | .47 | 8 | 1.41 | 8 | ||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .07 | .07 | .14 | (.06 | ) | 10.08 | 1.40 | 3,043 | .10 | .05 | .36 | .74 | |||||||||||||||||||||||||||||||||||
| Class 529-A: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.08 | .06 | (.02 | ) | .04 | (.06 | ) | 10.06 | .36 | 29,878 | .59 | 8 | .45 | 8 | .75 | 8 | 1.13 | 8 | ||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .06 | .06 | .12 | (.04 | ) | 10.08 | 1.25 | 16,801 | .26 | .22 | .53 | .57 | |||||||||||||||||||||||||||||||||||
| Class 529-B: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.08 | .02 | (.02 | ) | — | (.01 | ) | 10.07 | .05 | 576 | 1.41 | 8 | 1.27 | 8 | 1.57 | 8 | .32 | 8 | ||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .02 | .07 | .09 | (.01 | ) | 10.08 | .89 | 531 | .59 | .55 | .86 | .25 | |||||||||||||||||||||||||||||||||||
| Class 529-C: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.08 | .02 | (.02 | ) | — | (.02 | ) | 10.06 | (.02 | ) | 15,505 | 1.40 | 8 | 1.26 | 8 | 1.56 | 8 | .31 | 8 | |||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .02 | .07 | .09 | (.01 | ) | 10.08 | .93 | 8,453 | .60 | .55 | .86 | .24 | |||||||||||||||||||||||||||||||||||
| Class 529-E: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.07 | .04 | (.01 | ) | .03 | (.04 | ) | 10.06 | .34 | 2,335 | .86 | 8 | .72 | 8 | 1.02 | 8 | .85 | 8 | ||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .05 | .06 | .11 | (.04 | ) | 10.07 | 1.13 | 1,345 | .35 | .31 | .62 | .47 | |||||||||||||||||||||||||||||||||||
| Class 529-F-1: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.08 | .06 | (.01 | ) | .05 | (.07 | ) | 10.06 | .45 | 1,581 | .41 | 8 | .27 | 8 | .57 | 8 | 1.30 | 8 | ||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .07 | .07 | .14 | (.06 | ) | 10.08 | 1.37 | 686 | .14 | .10 | .41 | .68 | |||||||||||||||||||||||||||||||||||
| Class R-1: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.08 | .02 | (.02 | ) | — | (.02 | ) | 10.06 | .00 | 737 | 1.33 | 8 | 1.20 | 8 | 1.50 | 8 | .38 | 8 | ||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .03 | .10 | .13 | (.05 | ) | 10.08 | 1.30 | 271 | .45 | .41 | .72 | .35 | |||||||||||||||||||||||||||||||||||
| Class R-2: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.07 | .02 | (.02 | ) | — | (.02 | ) | 10.05 | .01 | 4,977 | 1.40 | 8 | 1.25 | 8 | 1.55 | 8 | .31 | 8 | ||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .03 | .08 | .11 | (.04 | ) | 10.07 | 1.11 | 1,401 | .47 | .42 | .73 | .33 | |||||||||||||||||||||||||||||||||||
| Class R-3: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.08 | .04 | (.02 | ) | .02 | (.04 | ) | 10.06 | .21 | 3,202 | .95 | 8 | .81 | 8 | 1.11 | 8 | .72 | 8 | ||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .05 | .07 | .12 | (.04 | ) | 10.08 | 1.19 | 245 | .33 | .29 | .60 | .51 | |||||||||||||||||||||||||||||||||||
| Class R-4: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.08 | .06 | (.01 | ) | .05 | (.06 | ) | 10.07 | .46 | 1,249 | .57 | 8 | .44 | 8 | .74 | 8 | 1.14 | 8 | ||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .06 | .08 | .14 | (.06 | ) | 10.08 | 1.36 | 271 | .17 | .13 | .44 | .63 | |||||||||||||||||||||||||||||||||||
| Class R-5: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.08 | .07 | (.01 | ) | .06 | (.07 | ) | 10.07 | .61 | 3,623 | .26 | 8 | .12 | 8 | .42 | 8 | 1.47 | 8 | ||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .07 | .07 | .14 | (.06 | ) | 10.08 | 1.42 | 3,377 | .08 | .04 | .35 | .75 | |||||||||||||||||||||||||||||||||||
| Class R-6: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.08 | .07 | (.01 | ) | .06 | (.07 | ) | 10.07 | .59 | 430 | .30 | 8 | .15 | 8 | .45 | 8 | 1.39 | 8 | ||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .07 | .06 | .13 | (.05 | ) | 10.08 | 1.34 | 24 | .13 | .08 | .39 | .72 | |||||||||||||||||||||||||||||||||||
| 44 | American Funds Portfolio Series |
| Income from investment operations1 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Period ended | Net asset value, beginning of period | Net investment income | Net gains on securities (both realized and unrealized) | Total from investment operations | Dividends (from net investment income) | Net asset value, end of period | Total return²,³ | Net assets, end of period (in thousands) | Ratio of expenses to average net assets before reimbursements/ waivers4 | Ratio of expenses to average net assets after reimbursements/ waivers³,4 | Net effective expense ratio5 | Ratio of net income to average net assets³ | ||||||||||||||||||||||||||||||||||||
| American Funds Tax-Exempt Preservation Portfolio | ||||||||||||||||||||||||||||||||||||||||||||||||
| Class A: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | $ | 10.11 | $ | .13 | $ | .03 | $ | .16 | $ | (.12 | ) | $ | 10.15 | 1.62 | % | $ | 136,549 | .62 | %8 | .46 | %8 | .77 | %8 | 2.51 | %8 | |||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .12 | .09 | .21 | (.10 | ) | 10.11 | 2.10 | 71,341 | .24 | .19 | .50 | 1.22 | |||||||||||||||||||||||||||||||||||
| Class B: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.12 | .09 | .04 | .13 | (.09 | ) | 10.16 | 1.26 | 142 | 1.33 | 8 | 1.17 | 8 | 1.48 | 8 | 1.80 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .09 | .09 | .18 | (.06 | ) | 10.12 | 1.84 | 101 | .53 | .49 | .80 | .92 | |||||||||||||||||||||||||||||||||||
| Class C: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.10 | .09 | .04 | .13 | (.09 | ) | 10.14 | 1.29 | 42,655 | 1.33 | 8 | 1.16 | 8 | 1.47 | 8 | 1.81 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .09 | .09 | .18 | (.08 | ) | 10.10 | 1.77 | 22,159 | .55 | .51 | .82 | .89 | |||||||||||||||||||||||||||||||||||
| Class F-1: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.11 | .13 | .03 | .16 | (.12 | ) | 10.15 | 1.62 | 10,744 | .59 | 8 | .43 | 8 | .74 | 8 | 2.54 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .12 | .09 | .21 | (.10 | ) | 10.11 | 2.13 | 9,144 | .20 | .16 | .47 | 1.24 | |||||||||||||||||||||||||||||||||||
| Class F-2: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/136,7 | 10.11 | .14 | .04 | .18 | (.14 | ) | 10.15 | 1.75 | 15,382 | . 34 | 8 | .18 | 8 | .49 | 8 | 2.80 | 8 | |||||||||||||||||||||||||||||||
| 10/31/126,9 | 10.00 | .13 | .09 | .22 | (.11 | ) | 10.11 | 2.25 | 12,032 | .10 | .05 | .36 | 1.34 | |||||||||||||||||||||||||||||||||||
| Portfolio turnover rate for all share classes | Six months ended April 30, 20136,7 | Period ended October 31, 20126,9,11 | ||||||
| Global Growth Portfolio | — | %12 | 40 | % | ||||
| Growth Portfolio | — | 12 | 24 | |||||
| Growth and Income Portfolio | — | 12 | 7 | |||||
| Balanced Portfolio | — | 12 | 9 | |||||
| Income Portfolio | — | 12 | 7 | |||||
| Tax-Advantaged Income Portfolio | — | 12 | 45 | |||||
| Preservation Portfolio | 1 | 16 | ||||||
| Tax-Exempt Preservation Portfolio | 3 | 36 | ||||||
| 1 | Based on average shares outstanding. |
| 2 | Total returns exclude any applicable sales charges. |
| 3 | This column reflects the impact, if any, of certain reimbursements/waivers from CRMC. During the periods shown, CRMC reduced fees for investment advisory services and reimbursed other fees and expenses. |
| 4 | This column does not include expenses of the underlying funds in which each fund invests. |
| 5 | This column reflects the net effective expense ratios for each fund and class, which are unaudited. These ratios include each class’s expense ratio combined with the weighted average net expense ratio of the underlying funds for the periods presented. See pages 46 to 53 for further information regarding fees and expenses. |
| 6 | Based on operations for the period shown and, accordingly, is not representative of a full year. |
| 7 | Unaudited for the six months ended April 30, 2013. |
| 8 | Annualized. |
| 9 | For the period May 18, 2012, commencement of operations, through October 31, 2012. |
| 10 | Amount less than $.01. |
| 11 | Portfolio turnover rates reflect the redemption (or removal) of CRMC’s initial capital investment, without which the portfolio turnover rates would have been lower. |
| 12 | Amount is either less than 1% or there is no turnover. |
See Notes to Financial Statements
| American Funds Portfolio Series | 45 |
| Expense example | unaudited |
As a shareholder of the funds, you incur two types of costs: (1) transaction costs, such as initial sales charges on purchase payments (loads), and (2) ongoing costs, including management fees, distribution and service (12b-1) fees, and other expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the funds so you can compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the entire six-month period (November 1, 2012, through April 30, 2013).
Actual expenses:
The first line of each share class in the tables on the following pages provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled “Expenses paid during period” to estimate the expenses you paid on your account during this period.
Hypothetical example for comparison purposes:
The second line of each share class in the tables on the following pages provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio for the share class and an assumed rate of return of 5.00% per year before expenses, which is not the actual return of the share class. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the funds and other funds. To do so, compare this 5.00% hypothetical example with the 5.00% hypothetical examples that appear in the shareholder reports of the other funds.
Notes:
There are some account fees that are charged to certain types of accounts, such as individual retirement accounts (generally, a $10 fee is charged to set up the account and an additional $10 fee is charged to the account annually), that would increase the amount of expenses paid on your account. In addition, retirement plan participants may be subject to certain fees charged by the plan sponsor. You can estimate the impact of these fees by adding the amount of the fees to the total estimated expenses you paid on your account during the period as calculated above. In addition, your ending account value would also be lower by the amount of these fees.
Note that the expenses shown in the tables are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads). Therefore, the second line of each share class in the tables is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
| 46 | American Funds Portfolio Series |
| Beginning account value 11/1/2012 | Ending account value 4/30/2013 | Expenses paid during period1,2 | Annualized expense ratio2 | Effective expenses paid during period3 | Effective annualized expense ratio4 | |||||||||||||||||||
| American Funds Global Growth Portfolio | ||||||||||||||||||||||||
| Class A — actual return | $ | 1,000.00 | $ | 1,140.30 | $ | 2.81 | .53 | % | $ | 5.47 | 1.03 | % | ||||||||||||
| Class A — assumed 5% return | 1,000.00 | 1,022.17 | 2.66 | .53 | 5.16 | 1.03 | ||||||||||||||||||
| Class B — actual return | 1,000.00 | 1,137.01 | 6.73 | 1.27 | 9.38 | 1.77 | ||||||||||||||||||
| Class B — assumed 5% return | 1,000.00 | 1,018.50 | 6.36 | 1.27 | 8.85 | 1.77 | ||||||||||||||||||
| Class C — actual return | 1,000.00 | 1,137.34 | 6.68 | 1.26 | 9.33 | 1.76 | ||||||||||||||||||
| Class C — assumed 5% return | 1,000.00 | 1,018.55 | 6.31 | 1.26 | 8.80 | 1.76 | ||||||||||||||||||
| Class F-1 — actual return | 1,000.00 | 1,141.67 | 2.76 | .52 | 5.42 | 1.02 | ||||||||||||||||||
| Class F-1 — assumed 5% return | 1,000.00 | 1,022.22 | 2.61 | .52 | 5.11 | 1.02 | ||||||||||||||||||
| Class F-2 — actual return | 1,000.00 | 1,142.35 | 1.43 | .27 | 4.09 | .77 | ||||||||||||||||||
| Class F-2 — assumed 5% return | 1,000.00 | 1,023.46 | 1.35 | .27 | 3.86 | .77 | ||||||||||||||||||
| Class 529-A — actual return | 1,000.00 | 1,141.97 | 2.66 | .50 | 5.31 | 1.00 | ||||||||||||||||||
| Class 529-A — assumed 5% return | 1,000.00 | 1,022.32 | 2.51 | .50 | 5.01 | 1.00 | ||||||||||||||||||
| Class 529-B — actual return | 1,000.00 | 1,135.97 | 7.26 | 1.37 | 9.90 | 1.87 | ||||||||||||||||||
| Class 529-B — assumed 5% return | 1,000.00 | 1,018.00 | 6.85 | 1.37 | 9.35 | 1.87 | ||||||||||||||||||
| Class 529-C — actual return | 1,000.00 | 1,136.91 | 7.21 | 1.36 | 9.85 | 1.86 | ||||||||||||||||||
| Class 529-C — assumed 5% return | 1,000.00 | 1,018.05 | 6.80 | 1.36 | 9.30 | 1.86 | ||||||||||||||||||
| Class 529-E — actual return | 1,000.00 | 1,140.10 | 4.35 | .82 | 7.00 | 1.32 | ||||||||||||||||||
| Class 529-E — assumed 5% return | 1,000.00 | 1,020.73 | 4.11 | .82 | 6.61 | 1.32 | ||||||||||||||||||
| Class 529-F-1 — actual return | 1,000.00 | 1,141.28 | 1.91 | .36 | 4.57 | .86 | ||||||||||||||||||
| Class 529-F-1 — assumed 5% return | 1,000.00 | 1,023.01 | 1.81 | .36 | 4.31 | .86 | ||||||||||||||||||
| Class R-1 — actual return | 1,000.00 | 1,136.71 | 6.57 | 1.24 | 9.22 | 1.74 | ||||||||||||||||||
| Class R-1 — assumed 5% return | 1,000.00 | 1,018.65 | 6.21 | 1.24 | 8.70 | 1.74 | ||||||||||||||||||
| Class R-2 — actual return | 1,000.00 | 1,136.25 | 7.15 | 1.35 | 9.80 | 1.85 | ||||||||||||||||||
| Class R-2 — assumed 5% return | 1,000.00 | 1,018.10 | 6.76 | 1.35 | 9.25 | 1.85 | ||||||||||||||||||
| Class R-3 — actual return | 1,000.00 | 1,139.74 | 4.24 | .80 | 6.90 | 1.30 | ||||||||||||||||||
| Class R-3 — assumed 5% return | 1,000.00 | 1,020.83 | 4.01 | .80 | 6.51 | 1.30 | ||||||||||||||||||
| Class R-4 — actual return | 1,000.00 | 1,141.21 | 2.87 | .54 | 5.52 | 1.04 | ||||||||||||||||||
| Class R-4 — assumed 5% return | 1,000.00 | 1,022.12 | 2.71 | .54 | 5.21 | 1.04 | ||||||||||||||||||
| Class R-5 — actual return | 1,000.00 | 1,143.29 | 1.06 | .20 | 3.72 | .70 | ||||||||||||||||||
| Class R-5 — assumed 5% return | 1,000.00 | 1,023.80 | 1.00 | .20 | 3.51 | .70 | ||||||||||||||||||
| Class R-6 — actual return | 1,000.00 | 1,142.96 | 1.06 | .20 | 3.72 | .70 | ||||||||||||||||||
| Class R-6 — assumed 5% return | 1,000.00 | 1,023.80 | 1.00 | .20 | 3.51 | .70 | ||||||||||||||||||
See page 53 for footnotes.
| American Funds Portfolio Series | 47 |
Expense example (continued)
| Beginning account value 11/1/2012 | Ending account value 4/30/2013 | Expenses paid during period1,2 | Annualized expense ratio2 | Effective expenses paid during period3 | Effective annualized expense ratio4 | |||||||||||||||||||
| American Funds Growth Portfolio | ||||||||||||||||||||||||
| Class A — actual return | $ | 1,000.00 | $ | 1,144.36 | $ | 2.50 | .47 | % | $ | 4.84 | .91 | % | ||||||||||||
| Class A — assumed 5% return | 1,000.00 | 1,022.46 | 2.36 | .47 | 4.56 | .91 | ||||||||||||||||||
| Class B — actual return | 1,000.00 | 1,140.71 | 6.42 | 1.21 | 8.76 | 1.65 | ||||||||||||||||||
| Class B — assumed 5% return | 1,000.00 | 1,018.79 | 6.06 | 1.21 | 8.25 | 1.65 | ||||||||||||||||||
| Class C — actual return | 1,000.00 | 1,141.15 | 6.37 | 1.20 | 8.71 | 1.64 | ||||||||||||||||||
| Class C — assumed 5% return | 1,000.00 | 1,018.84 | 6.01 | 1.20 | 8.20 | 1.64 | ||||||||||||||||||
| Class F-1 — actual return | 1,000.00 | 1,144.77 | 2.45 | .46 | 4.79 | .90 | ||||||||||||||||||
| Class F-1 — assumed 5% return | 1,000.00 | 1,022.51 | 2.31 | .46 | 4.51 | .90 | ||||||||||||||||||
| Class F-2 — actual return | 1,000.00 | 1,146.35 | 1.17 | .22 | 3.51 | .66 | ||||||||||||||||||
| Class F-2 — assumed 5% return | 1,000.00 | 1,023.70 | 1.10 | .22 | 3.31 | .66 | ||||||||||||||||||
| Class 529-A — actual return | 1,000.00 | 1,145.52 | 2.18 | .41 | 4.52 | .85 | ||||||||||||||||||
| Class 529-A — assumed 5% return | 1,000.00 | 1,022.76 | 2.06 | .41 | 4.26 | .85 | ||||||||||||||||||
| Class 529-B — actual return | 1,000.00 | 1,140.34 | 6.95 | 1.31 | 9.29 | 1.75 | ||||||||||||||||||
| Class 529-B — assumed 5% return | 1,000.00 | 1,018.30 | 6.56 | 1.31 | 8.75 | 1.75 | ||||||||||||||||||
| Class 529-C — actual return | 1,000.00 | 1,139.52 | 6.90 | 1.30 | 9.23 | 1.74 | ||||||||||||||||||
| Class 529-C — assumed 5% return | 1,000.00 | 1,018.35 | 6.51 | 1.30 | 8.70 | 1.74 | ||||||||||||||||||
| Class 529-E — actual return | 1,000.00 | 1,143.68 | 4.09 | .77 | 6.43 | 1.21 | ||||||||||||||||||
| Class 529-E — assumed 5% return | 1,000.00 | 1,020.98 | 3.86 | .77 | 6.06 | 1.21 | ||||||||||||||||||
| Class 529-F-1 — actual return | 1,000.00 | 1,146.06 | 1.60 | .30 | 3.94 | .74 | ||||||||||||||||||
| Class 529-F-1 — assumed 5% return | 1,000.00 | 1,023.31 | 1.51 | .30 | 3.71 | .74 | ||||||||||||||||||
| Class R-1 — actual return | 1,000.00 | 1,141.27 | 6.42 | 1.21 | 8.76 | 1.65 | ||||||||||||||||||
| Class R-1 — assumed 5% return | 1,000.00 | 1,018.79 | 6.06 | 1.21 | 8.25 | 1.65 | ||||||||||||||||||
| Class R-2 — actual return | 1,000.00 | 1,140.56 | 6.69 | 1.26 | 9.02 | 1.70 | ||||||||||||||||||
| Class R-2 — assumed 5% return | 1,000.00 | 1,018.55 | 6.31 | 1.26 | 8.50 | 1.70 | ||||||||||||||||||
| Class R-3 — actual return | 1,000.00 | 1,143.69 | 3.93 | .74 | 6.27 | 1.18 | ||||||||||||||||||
| Class R-3 — assumed 5% return | 1,000.00 | 1,021.12 | 3.71 | .74 | 5.91 | 1.18 | ||||||||||||||||||
| Class R-4 — actual return | 1,000.00 | 1,144.33 | 2.61 | .49 | 4.94 | .93 | ||||||||||||||||||
| Class R-4 — assumed 5% return | 1,000.00 | 1,022.36 | 2.46 | .49 | 4.66 | .93 | ||||||||||||||||||
| Class R-5 — actual return | 1,000.00 | 1,147.27 | .80 | .15 | 3.14 | .59 | ||||||||||||||||||
| Class R-5 — assumed 5% return | 1,000.00 | 1,024.05 | .75 | .15 | 2.96 | .59 | ||||||||||||||||||
| Class R-6 — actual return | 1,000.00 | 1,146.49 | .80 | .15 | 3.14 | .59 | ||||||||||||||||||
| Class R-6 — assumed 5% return | 1,000.00 | 1,024.05 | .75 | .15 | 2.96 | .59 | ||||||||||||||||||
| 48 | American Funds Portfolio Series |
| Beginning account value 11/1/2012 | Ending account value 4/30/2013 | Expenses paid during period1,2 | Annualized expense ratio2 | Effective expenses paid during period3 | Effective annualized expense ratio4 | |||||||||||||||||||
| American Funds Growth and Income Portfolio | ||||||||||||||||||||||||
| Class A — actual return | $ | 1,000.00 | $ | 1,114.83 | $ | 2.20 | .42 | % | $ | 4.14 | .79 | % | ||||||||||||
| Class A — assumed 5% return | 1,000.00 | 1,022.71 | 2.11 | .42 | 3.96 | .79 | ||||||||||||||||||
| Class B — actual return | 1,000.00 | 1,111.39 | 6.13 | 1.17 | 8.06 | 1.54 | ||||||||||||||||||
| Class B — assumed 5% return | 1,000.00 | 1,018.99 | 5.86 | 1.17 | 7.70 | 1.54 | ||||||||||||||||||
| Class C — actual return | 1,000.00 | 1,111.11 | 6.02 | 1.15 | 7.96 | 1.52 | ||||||||||||||||||
| Class C — assumed 5% return | 1,000.00 | 1,019.09 | 5.76 | 1.15 | 7.60 | 1.52 | ||||||||||||||||||
| Class F-1 — actual return | 1,000.00 | 1,115.74 | 2.20 | .42 | 4.14 | .79 | ||||||||||||||||||
| Class F-1 — assumed 5% return | 1,000.00 | 1,022.71 | 2.11 | .42 | 3.96 | .79 | ||||||||||||||||||
| Class F-2 — actual return | 1,000.00 | 1,115.99 | .89 | .17 | 2.83 | .54 | ||||||||||||||||||
| Class F-2 — assumed 5% return | 1,000.00 | 1,023.95 | .85 | .17 | 2.71 | .54 | ||||||||||||||||||
| Class 529-A — actual return | 1,000.00 | 1,114.61 | 2.31 | .44 | 4.25 | .81 | ||||||||||||||||||
| Class 529-A — assumed 5% return | 1,000.00 | 1,022.61 | 2.21 | .44 | 4.06 | .81 | ||||||||||||||||||
| Class 529-B — actual return | 1,000.00 | 1,110.90 | 6.65 | 1.27 | 8.58 | 1.64 | ||||||||||||||||||
| Class 529-B — assumed 5% return | 1,000.00 | 1,018.50 | 6.36 | 1.27 | 8.20 | 1.64 | ||||||||||||||||||
| Class 529-C — actual return | 1,000.00 | 1,110.39 | 6.59 | 1.26 | 8.53 | 1.63 | ||||||||||||||||||
| Class 529-C — assumed 5% return | 1,000.00 | 1,018.55 | 6.31 | 1.26 | 8.15 | 1.63 | ||||||||||||||||||
| Class 529-E — actual return | 1,000.00 | 1,113.73 | 3.83 | .73 | 5.76 | 1.10 | ||||||||||||||||||
| Class 529-E — assumed 5% return | 1,000.00 | 1,021.17 | 3.66 | .73 | 5.51 | 1.10 | ||||||||||||||||||
| Class 529-F-1 — actual return | 1,000.00 | 1,115.45 | 1.36 | .26 | 3.30 | .63 | ||||||||||||||||||
| Class 529-F-1 — assumed 5% return | 1,000.00 | 1,023.51 | 1.30 | .26 | 3.16 | .63 | ||||||||||||||||||
| Class R-1 — actual return | 1,000.00 | 1,111.42 | 6.23 | 1.19 | 8.17 | 1.56 | ||||||||||||||||||
| Class R-1 — assumed 5% return | 1,000.00 | 1,018.89 | 5.96 | 1.19 | 7.80 | 1.56 | ||||||||||||||||||
| Class R-2 — actual return | 1,000.00 | 1,111.66 | 6.23 | 1.19 | 8.17 | 1.56 | ||||||||||||||||||
| Class R-2 — assumed 5% return | 1,000.00 | 1,018.89 | 5.96 | 1.19 | 7.80 | 1.56 | ||||||||||||||||||
| Class R-3 — actual return | 1,000.00 | 1,113.42 | 3.77 | .72 | 5.71 | 1.09 | ||||||||||||||||||
| Class R-3 — assumed 5% return | 1,000.00 | 1,021.22 | 3.61 | .72 | 5.46 | 1.09 | ||||||||||||||||||
| Class R-4 — actual return | 1,000.00 | 1,115.38 | 1.89 | .36 | 3.83 | .73 | ||||||||||||||||||
| Class R-4 — assumed 5% return | 1,000.00 | 1,023.01 | 1.81 | .36 | 3.66 | .73 | ||||||||||||||||||
| Class R-5 — actual return | 1,000.00 | 1,117.03 | .63 | .12 | 2.57 | .49 | ||||||||||||||||||
| Class R-5 — assumed 5% return | 1,000.00 | 1,024.20 | .60 | .12 | 2.46 | .49 | ||||||||||||||||||
| Class R-6 — actual return | 1,000.00 | 1,115.86 | .68 | .13 | 2.62 | .50 | ||||||||||||||||||
| Class R-6 — assumed 5% return | 1,000.00 | 1,024.15 | .65 | .13 | 2.51 | .50 | ||||||||||||||||||
See page 53 for footnotes.
| American Funds Portfolio Series | 49 |
Expense example (continued)
| Beginning account value 11/1/2012 | Ending account value 4/30/2013 | Expenses paid during period1,2 | Annualized expense ratio2 | Effective expenses paid during period3 | Effective annualized expense ratio4 | |||||||||||||||||||
| American Funds Balanced Portfolio | ||||||||||||||||||||||||
| Class A — actual return | $ | 1,000.00 | $ | 1,100.55 | $ | 2.40 | .46 | % | $ | 4.17 | .80 | % | ||||||||||||
| Class A — assumed 5% return | 1,000.00 | 1,022.51 | 2.31 | .46 | 4.01 | .80 | ||||||||||||||||||
| Class B — actual return | 1,000.00 | 1,096.95 | 6.14 | 1.18 | 7.90 | 1.52 | ||||||||||||||||||
| Class B — assumed 5% return | 1,000.00 | 1,018.94 | 5.91 | 1.18 | 7.60 | 1.52 | ||||||||||||||||||
| Class C — actual return | 1,000.00 | 1,096.80 | 6.08 | 1.17 | 7.85 | 1.51 | ||||||||||||||||||
| Class C — assumed 5% return | 1,000.00 | 1,018.99 | 5.86 | 1.17 | 7.55 | 1.51 | ||||||||||||||||||
| Class F-1 — actual return | 1,000.00 | 1,100.95 | 2.24 | .43 | 4.01 | .77 | ||||||||||||||||||
| Class F-1 — assumed 5% return | 1,000.00 | 1,022.66 | 2.16 | .43 | 3.86 | .77 | ||||||||||||||||||
| Class F-2 — actual return | 1,000.00 | 1,101.75 | .94 | .18 | 2.71 | .52 | ||||||||||||||||||
| Class F-2 — assumed 5% return | 1,000.00 | 1,023.90 | .90 | .18 | 2.61 | .52 | ||||||||||||||||||
| Class 529-A — actual return | 1,000.00 | 1,101.32 | 2.19 | .42 | 3.96 | .76 | ||||||||||||||||||
| Class 529-A — assumed 5% return | 1,000.00 | 1,022.71 | 2.11 | .42 | 3.81 | .76 | ||||||||||||||||||
| Class 529-B — actual return | 1,000.00 | 1,096.36 | 6.65 | 1.28 | 8.42 | 1.62 | ||||||||||||||||||
| Class 529-B — assumed 5% return | 1,000.00 | 1,018.45 | 6.41 | 1.28 | 8.10 | 1.62 | ||||||||||||||||||
| Class 529-C — actual return | 1,000.00 | 1,095.97 | 6.60 | 1.27 | 8.37 | 1.61 | ||||||||||||||||||
| Class 529-C — assumed 5% return | 1,000.00 | 1,018.50 | 6.36 | 1.27 | 8.05 | 1.61 | ||||||||||||||||||
| Class 529-E — actual return | 1,000.00 | 1,099.47 | 3.80 | .73 | 5.57 | 1.07 | ||||||||||||||||||
| Class 529-E — assumed 5% return | 1,000.00 | 1,021.17 | 3.66 | .73 | 5.36 | 1.07 | ||||||||||||||||||
| Class 529-F-1 — actual return | 1,000.00 | 1,102.19 | 1.41 | .27 | 3.18 | .61 | ||||||||||||||||||
| Class 529-F-1 — assumed 5% return | 1,000.00 | 1,023.46 | 1.35 | .27 | 3.06 | .61 | ||||||||||||||||||
| Class R-1 — actual return | 1,000.00 | 1,097.19 | 6.08 | 1.17 | 7.85 | 1.51 | ||||||||||||||||||
| Class R-1 — assumed 5% return | 1,000.00 | 1,018.99 | 5.86 | 1.17 | 7.55 | 1.51 | ||||||||||||||||||
| Class R-2 — actual return | 1,000.00 | 1,096.24 | 6.29 | 1.21 | 8.06 | 1.55 | ||||||||||||||||||
| Class R-2 — assumed 5% return | 1,000.00 | 1,018.79 | 6.06 | 1.21 | 7.75 | 1.55 | ||||||||||||||||||
| Class R-3 — actual return | 1,000.00 | 1,099.29 | 3.96 | .76 | 5.73 | 1.10 | ||||||||||||||||||
| Class R-3 — assumed 5% return | 1,000.00 | 1,021.03 | 3.81 | .76 | 5.51 | 1.10 | ||||||||||||||||||
| Class R-4 — actual return | 1,000.00 | 1,100.57 | 2.40 | .46 | 4.17 | .80 | ||||||||||||||||||
| Class R-4 — assumed 5% return | 1,000.00 | 1,022.51 | 2.31 | .46 | 4.01 | .80 | ||||||||||||||||||
| Class R-5 — actual return | 1,000.00 | 1,101.87 | .63 | .12 | 2.40 | .46 | ||||||||||||||||||
| Class R-5 — assumed 5% return | 1,000.00 | 1,024.20 | .60 | .12 | 2.31 | .46 | ||||||||||||||||||
| Class R-6 — actual return | 1,000.00 | 1,101.79 | .36 | .07 | 2.14 | .41 | ||||||||||||||||||
| Class R-6 — assumed 5% return | 1,000.00 | 1,024.45 | .35 | .07 | 2.06 | .41 | ||||||||||||||||||
| 50 | American Funds Portfolio Series |
| Beginning account value 11/1/2012 | Ending account value 4/30/2013 | Expenses paid during period1,2 | Annualized expense ratio2 | Effective expenses paid during period3 | Effective annualized expense ratio4 | |||||||||||||||||||
| American Funds Income Portfolio | ||||||||||||||||||||||||
| Class A — actual return | $ | 1,000.00 | $ | 1,086.48 | $ | 2.43 | .47 | % | $ | 4.04 | .78 | % | ||||||||||||
| Class A — assumed 5% return | 1,000.00 | 1,022.46 | 2.36 | .47 | 3.91 | .78 | ||||||||||||||||||
| Class B — actual return | 1,000.00 | 1,082.17 | 6.14 | 1.19 | 7.74 | 1.50 | ||||||||||||||||||
| Class B — assumed 5% return | 1,000.00 | 1,018.89 | 5.96 | 1.19 | 7.50 | 1.50 | ||||||||||||||||||
| Class C — actual return | 1,000.00 | 1,082.75 | 6.04 | 1.17 | 7.64 | 1.48 | ||||||||||||||||||
| Class C — assumed 5% return | 1,000.00 | 1,018.99 | 5.86 | 1.17 | 7.40 | 1.48 | ||||||||||||||||||
| Class F-1 — actual return | 1,000.00 | 1,086.40 | 2.28 | .44 | 3.88 | .75 | ||||||||||||||||||
| Class F-1 — assumed 5% return | 1,000.00 | 1,022.61 | 2.21 | .44 | 3.76 | .75 | ||||||||||||||||||
| Class F-2 — actual return | 1,000.00 | 1,088.70 | .93 | .18 | 2.54 | .49 | ||||||||||||||||||
| Class F-2 — assumed 5% return | 1,000.00 | 1,023.90 | .90 | .18 | 2.46 | .49 | ||||||||||||||||||
| Class 529-A — actual return | 1,000.00 | 1,086.40 | 2.48 | .48 | 4.09 | .79 | ||||||||||||||||||
| Class 529-A — assumed 5% return | 1,000.00 | 1,022.41 | 2.41 | .48 | 3.96 | .79 | ||||||||||||||||||
| Class 529-B — actual return | 1,000.00 | 1,082.72 | 6.61 | 1.28 | 8.21 | 1.59 | ||||||||||||||||||
| Class 529-B — assumed 5% return | 1,000.00 | 1,018.45 | 6.41 | 1.28 | 7.95 | 1.59 | ||||||||||||||||||
| Class 529-C — actual return | 1,000.00 | 1,082.28 | 6.56 | 1.27 | 8.16 | 1.58 | ||||||||||||||||||
| Class 529-C — assumed 5% return | 1,000.00 | 1,018.50 | 6.36 | 1.27 | 7.90 | 1.58 | ||||||||||||||||||
| Class 529-E — actual return | 1,000.00 | 1,085.41 | 3.77 | .73 | 5.38 | 1.04 | ||||||||||||||||||
| Class 529-E — assumed 5% return | 1,000.00 | 1,021.17 | 3.66 | .73 | 5.21 | 1.04 | ||||||||||||||||||
| Class 529-F-1 — actual return | 1,000.00 | 1,087.37 | 1.40 | .27 | 3.00 | .58 | ||||||||||||||||||
| Class 529-F-1 — assumed 5% return | 1,000.00 | 1,023.46 | 1.35 | .27 | 2.91 | .58 | ||||||||||||||||||
| Class R-1 — actual return | 1,000.00 | 1,082.68 | 6.15 | 1.19 | 7.75 | 1.50 | ||||||||||||||||||
| Class R-1 — assumed 5% return | 1,000.00 | 1,018.89 | 5.96 | 1.19 | 7.50 | 1.50 | ||||||||||||||||||
| Class R-2 — actual return | 1,000.00 | 1,081.81 | 6.40 | 1.24 | 8.00 | 1.55 | ||||||||||||||||||
| Class R-2 — assumed 5% return | 1,000.00 | 1,018.65 | 6.21 | 1.24 | 7.75 | 1.55 | ||||||||||||||||||
| Class R-3 — actual return | 1,000.00 | 1,085.21 | 4.03 | .78 | 5.64 | 1.09 | ||||||||||||||||||
| Class R-3 — assumed 5% return | 1,000.00 | 1,020.93 | 3.91 | .78 | 5.46 | 1.09 | ||||||||||||||||||
| Class R-4 — actual return | 1,000.00 | 1,086.97 | 2.12 | .41 | 3.73 | .72 | ||||||||||||||||||
| Class R-4 — assumed 5% return | 1,000.00 | 1,022.76 | 2.06 | .41 | 3.61 | .72 | ||||||||||||||||||
| Class R-5 — actual return | 1,000.00 | 1,088.86 | .62 | .12 | 2.23 | .43 | ||||||||||||||||||
| Class R-5 — assumed 5% return | 1,000.00 | 1,024.20 | .60 | .12 | 2.16 | .43 | ||||||||||||||||||
| Class R-6 — actual return | 1,000.00 | 1,088.54 | .78 | .15 | 2.38 | .46 | ||||||||||||||||||
| Class R-6 — assumed 5% return | 1,000.00 | 1,024.05 | .75 | .15 | 2.31 | .46 | ||||||||||||||||||
See page 53 for footnotes.
| American Funds Portfolio Series | 51 |
Expense example (continued)
| Beginning account value 11/1/2012 | Ending account value 4/30/2013 | Expenses paid during period1,2 | Annualized expense ratio2 | Effective expenses paid during period3 | Effective annualized expense ratio4 | |||||||||||||||||||
| American Funds Tax-Advantaged Income Portfolio | ||||||||||||||||||||||||
| Class A — actual return | $ | 1,000.00 | $ | 1,087.13 | $ | 2.74 | .53 | % | $ | 4.66 | .90 | % | ||||||||||||
| Class A — assumed 5% return | 1,000.00 | 1,022.17 | 2.66 | .53 | 4.51 | .90 | ||||||||||||||||||
| Class B — actual return | 1,000.00 | 1,082.26 | 6.40 | 1.24 | 8.31 | 1.61 | ||||||||||||||||||
| Class B — assumed 5% return | 1,000.00 | 1,018.65 | 6.21 | 1.24 | 8.05 | 1.61 | ||||||||||||||||||
| Class C — actual return | 1,000.00 | 1,082.21 | 6.40 | 1.24 | 8.31 | 1.61 | ||||||||||||||||||
| Class C — assumed 5% return | 1,000.00 | 1,018.65 | 6.21 | 1.24 | 8.05 | 1.61 | ||||||||||||||||||
| Class F-1 — actual return | 1,000.00 | 1,086.33 | 2.59 | .50 | 4.50 | .87 | ||||||||||||||||||
| Class F-1 — assumed 5% return | 1,000.00 | 1,022.32 | 2.51 | .50 | 4.36 | .87 | ||||||||||||||||||
| Class F-2 — actual return | 1,000.00 | 1,087.43 | 1.29 | .25 | 3.21 | .62 | ||||||||||||||||||
| Class F-2 — assumed 5% return | 1,000.00 | 1,023.55 | 1.25 | .25 | 3.11 | .62 | ||||||||||||||||||
| American Funds Preservation Portfolio | ||||||||||||||||||||||||
| Class A — actual return | $ | 1,000.00 | $ | 1,004.59 | $ | 2.29 | .46 | % | $ | 3.78 | .76 | % | ||||||||||||
| Class A — assumed 5% return | 1,000.00 | 1,022.51 | 2.31 | .46 | 3.81 | .76 | ||||||||||||||||||
| Class B — actual return | 1,000.00 | 1,000.11 | 5.85 | 1.18 | 7.34 | 1.48 | ||||||||||||||||||
| Class B — assumed 5% return | 1,000.00 | 1,018.94 | 5.91 | 1.18 | 7.40 | 1.48 | ||||||||||||||||||
| Class C — actual return | 1,000.00 | 1,001.29 | 5.76 | 1.16 | 7.24 | 1.46 | ||||||||||||||||||
| Class C — assumed 5% return | 1,000.00 | 1,019.04 | 5.81 | 1.16 | 7.30 | 1.46 | ||||||||||||||||||
| Class F-1 — actual return | 1,000.00 | 1,004.62 | 2.14 | .43 | 3.63 | .73 | ||||||||||||||||||
| Class F-1 — assumed 5% return | 1,000.00 | 1,022.66 | 2.16 | .43 | 3.66 | .73 | ||||||||||||||||||
| Class F-2 — actual return | 1,000.00 | 1,005.95 | .85 | .17 | 2.34 | .47 | ||||||||||||||||||
| Class F-2 — assumed 5% return | 1,000.00 | 1,023.95 | .85 | .17 | 2.36 | .47 | ||||||||||||||||||
| Class 529-A — actual return | 1,000.00 | 1,003.64 | 2.24 | .45 | 3.73 | .75 | ||||||||||||||||||
| Class 529-A — assumed 5% return | 1,000.00 | 1,022.56 | 2.26 | .45 | 3.76 | .75 | ||||||||||||||||||
| Class 529-B — actual return | 1,000.00 | 1,000.46 | 6.30 | 1.27 | 7.79 | 1.57 | ||||||||||||||||||
| Class 529-B — assumed 5% return | 1,000.00 | 1,018.50 | 6.36 | 1.27 | 7.85 | 1.57 | ||||||||||||||||||
| Class 529-C — actual return | 1,000.00 | 999.83 | 6.25 | 1.26 | 7.74 | 1.56 | ||||||||||||||||||
| Class 529-C — assumed 5% return | 1,000.00 | 1,018.55 | 6.31 | 1.26 | 7.80 | 1.56 | ||||||||||||||||||
| Class 529-E — actual return | 1,000.00 | 1,003.36 | 3.58 | .72 | 5.07 | 1.02 | ||||||||||||||||||
| Class 529-E — assumed 5% return | 1,000.00 | 1,021.22 | 3.61 | .72 | 5.11 | 1.02 | ||||||||||||||||||
| Class 529-F-1 — actual return | 1,000.00 | 1,004.54 | 1.34 | .27 | 2.83 | .57 | ||||||||||||||||||
| Class 529-F-1 — assumed 5% return | 1,000.00 | 1,023.46 | 1.35 | .27 | 2.86 | .57 | ||||||||||||||||||
| Class R-1 — actual return | 1,000.00 | 1,000.01 | 5.95 | 1.20 | 7.44 | 1.50 | ||||||||||||||||||
| Class R-1 — assumed 5% return | 1,000.00 | 1,018.84 | 6.01 | 1.20 | 7.50 | 1.50 | ||||||||||||||||||
| Class R-2 — actual return | 1,000.00 | 1,000.12 | 6.20 | 1.25 | 7.69 | 1.55 | ||||||||||||||||||
| Class R-2 — assumed 5% return | 1,000.00 | 1,018.60 | 6.26 | 1.25 | 7.75 | 1.55 | ||||||||||||||||||
| Class R-3 — actual return | 1,000.00 | 1,002.07 | 4.02 | .81 | 5.51 | 1.11 | ||||||||||||||||||
| Class R-3 — assumed 5% return | 1,000.00 | 1,020.78 | 4.06 | .81 | 5.56 | 1.11 | ||||||||||||||||||
| Class R-4 — actual return | 1,000.00 | 1,004.60 | 2.19 | .44 | 3.68 | .74 | ||||||||||||||||||
| Class R-4 — assumed 5% return | 1,000.00 | 1,022.61 | 2.21 | .44 | 3.71 | .74 | ||||||||||||||||||
| Class R-5 — actual return | 1,000.00 | 1,006.14 | .60 | .12 | 2.09 | .42 | ||||||||||||||||||
| Class R-5 — assumed 5% return | 1,000.00 | 1,024.20 | .60 | .12 | 2.11 | .42 | ||||||||||||||||||
| Class R-6 — actual return | 1,000.00 | 1,005.94 | .75 | .15 | 2.24 | .45 | ||||||||||||||||||
| Class R-6 — assumed 5% return | 1,000.00 | 1,024.05 | .75 | .15 | 2.26 | .45 | ||||||||||||||||||
| 52 | American Funds Portfolio Series |
| Beginning account value 11/1/2012 | Ending account value 4/30/2013 | Expenses paid during period1,2 | Annualized expense ratio2 | Effective expenses paid during period3 | Effective annualized expense ratio4 | |||||||||||||||||||
| American Funds Tax-Exempt Preservation Portfolio | ||||||||||||||||||||||||
| Class A — actual return | $ | 1,000.00 | $ | 1,016.21 | $ | 2.30 | .46 | % | $ | 3.85 | .77 | % | ||||||||||||
| Class A — assumed 5% return | 1,000.00 | 1,022.51 | 2.31 | .46 | 3.86 | .77 | ||||||||||||||||||
| Class B — actual return | 1,000.00 | 1,012.56 | 5.84 | 1.17 | 7.39 | 1.48 | ||||||||||||||||||
| Class B — assumed 5% return | 1,000.00 | 1,018.99 | 5.86 | 1.17 | 7.40 | 1.48 | ||||||||||||||||||
| Class C — actual return | 1,000.00 | 1,012.90 | 5.79 | 1.16 | 7.34 | 1.47 | ||||||||||||||||||
| Class C — assumed 5% return | 1,000.00 | 1,019.04 | 5.81 | 1.16 | 7.35 | 1.47 | ||||||||||||||||||
| Class F-1 — actual return | 1,000.00 | 1,016.24 | 2.15 | .43 | 3.70 | .74 | ||||||||||||||||||
| Class F-1 — assumed 5% return | 1,000.00 | 1,022.66 | 2.16 | .43 | 3.71 | .74 | ||||||||||||||||||
| Class F-2 — actual return | 1,000.00 | 1,017.51 | .90 | .18 | 2.45 | .49 | ||||||||||||||||||
| Class F-2 — assumed 5% return | 1,000.00 | 1,023.90 | .90 | .18 | 2.46 | .49 | ||||||||||||||||||
| 1 | The “expenses paid during period” are equal to the “annualized expense ratio,” multiplied by the average account value over the period, multiplied by the number of days in the period, and divided by 365 (to reflect the one-half year period). |
| 2 | The “expenses paid during period” and “annualized expense ratio” do not include the expenses of the underlying funds in which each fund invests. |
| 3 | The “effective expenses paid during period” are equal to the “effective annualized expense ratio,” multiplied by the average account value over the period, multiplied by the number of days in the period, and divided by 365 (to reflect the one-half year period). |
| 4 | The “effective annualized expense ratio” reflects the net annualized expense ratio of the class plus the class’s pro-rata share of the weighted average expense ratio of the underlying funds in which it invests. The annualized weighted average expense ratio of the underlying funds for the period reflects the net actual expense ratio of each underlying fund for the period, annualized and weighted for the fund’s relative average investment therein during the period. |
| American Funds Portfolio Series | 53 |
| Other share class results | unaudited |
Classes B, C, F and 529
Fund results shown are for past periods and are not predictive of results for future periods. Current and future results may be lower or higher than those shown. Share prices and returns will vary, so investors may lose money. For current information and month-end results, visit americanfunds.com.
Cumulative total returns for periods ended March 31, 2013 (the most recent calendar quarter-end):
| Life of class | ||||
| Global Growth Portfolio | ||||
| Class B shares1 — first sold 5/18/12 | ||||
| Reflecting applicable contingent deferred sales charge (CDSC), maximum of 5%, payable only if shares are sold within six years of purchase | 18.02 | % | ||
| Not reflecting CDSC | 23.02 | |||
| Class C shares — first sold 5/18/12 | ||||
| Reflecting CDSC, maximum of 1%, payable only if shares are sold within one year of purchase | 22.05 | |||
| Not reflecting CDSC | 23.05 | |||
| Class F-1 shares2 — first sold 5/18/12 | ||||
| Not reflecting annual asset-based fee charged by sponsoring firm | 23.88 | |||
| Class F-2 shares2 — first sold 5/18/12 | ||||
| Not reflecting annual asset-based fee charged by sponsoring firm | 24.07 | |||
| Class 529-A shares3 — first sold 5/18/12 | ||||
| Reflecting 5.75% maximum sales charge | 16.68 | |||
| Not reflecting maximum sales charge | 23.80 | |||
| Class 529-B shares1,3 — first sold 5/18/12 | ||||
| Reflecting applicable CDSC, maximum of 5%, payable only if shares are sold within six years of purchase | 18.01 | |||
| Not reflecting CDSC | 23.01 | |||
| Class 529-C shares3 — first sold 5/18/12 | ||||
| Reflecting CDSC, maximum of 1%, payable only if shares are sold within one year of purchase | 21.89 | |||
| Not reflecting CDSC | 22.89 | |||
| Class 529-E shares2,3 — first sold 5/18/12 | 23.59 | |||
| Class 529-F-1 shares2,3 — first sold 5/18/12 | ||||
| Not reflecting annual asset-based fee charged by sponsoring firm | 23.95 | |||
| 54 | American Funds Portfolio Series |
| Life of class | ||||
| Growth Portfolio | ||||
| Class B shares1 — first sold 5/18/12 | ||||
| Reflecting applicable contingent deferred sales charge (CDSC), maximum of 5%, payable only if shares are sold within six years of purchase | 17.43 | % | ||
| Not reflecting CDSC | 22.43 | |||
| Class C shares — first sold 5/18/12 | ||||
| Reflecting CDSC, maximum of 1%, payable only if shares are sold within one year of purchase | 21.48 | |||
| Not reflecting CDSC | 22.48 | |||
| Class F-1 shares2 — first sold 5/18/12 | ||||
| Not reflecting annual asset-based fee charged by sponsoring firm | 23.33 | |||
| Class F-2 shares2 — first sold 5/18/12 | ||||
| Not reflecting annual asset-based fee charged by sponsoring firm | 23.51 | |||
| Class 529-A shares3 — first sold 5/18/12 | ||||
| Reflecting 5.75% maximum sales charge | 16.11 | |||
| Not reflecting maximum sales charge | 23.19 | |||
| Class 529-B shares1,3 — first sold 5/18/12 | ||||
| Reflecting applicable CDSC, maximum of 5%, payable only if shares are sold within six years of purchase | 17.39 | |||
| Not reflecting CDSC | 22.39 | |||
| Class 529-C shares3 — first sold 5/18/12 | ||||
| Reflecting CDSC, maximum of 1%, payable only if shares are sold within one year of purchase | 21.30 | |||
| Not reflecting CDSC | 22.30 | |||
| Class 529-E shares2,3 — first sold 5/18/12 | 22.98 | |||
| Class 529-F-1 shares2,3 — first sold 5/18/12 | ||||
| Not reflecting annual asset-based fee charged by sponsoring firm | 23.36 | |||
See page 59 for footnotes.
| American Funds Portfolio Series | 55 |
Other share class results (continued)
| Life of class | ||||
| Growth and Income Portfolio | ||||
| Class B shares1 — first sold 5/18/12 | ||||
| Reflecting applicable contingent deferred sales charge (CDSC), maximum of 5%, payable only if shares are sold within six years of purchase | 12.90 | % | ||
| Not reflecting CDSC | 17.90 | |||
| Class C shares — first sold 5/18/12 | ||||
| Reflecting CDSC, maximum of 1%, payable only if shares are sold within one year of purchase | 16.98 | |||
| Not reflecting CDSC | 17.98 | |||
| Class F-1 shares2 — first sold 5/18/12 | ||||
| Not reflecting annual asset-based fee charged by sponsoring firm | 18.77 | |||
| Class F-2 shares2 — first sold 5/18/12 | ||||
| Not reflecting annual asset-based fee charged by sponsoring firm | 18.95 | |||
| Class 529-A shares3 — first sold 5/18/12 | ||||
| Reflecting 5.75% maximum sales charge | 11.78 | |||
| Not reflecting maximum sales charge | 18.59 | |||
| Class 529-B shares1,3 — first sold 5/18/12 | ||||
| Reflecting applicable CDSC, maximum of 5%, payable only if shares are sold within six years of purchase | 12.91 | |||
| Not reflecting CDSC | 17.91 | |||
| Class 529-C shares3 — first sold 5/18/12 | ||||
| Reflecting CDSC, maximum of 1%, payable only if shares are sold within one year of purchase | 16.89 | |||
| Not reflecting CDSC | 17.89 | |||
| Class 529-E shares2,3 — first sold 5/18/12 | 18.40 | |||
| Class 529-F-1 shares2,3 — first sold 5/18/12 | ||||
| Not reflecting annual asset-based fee charged by sponsoring firm | 18.87 | |||
| 56 | American Funds Portfolio Series |
| Life of class | ||||
| Balanced Portfolio | ||||
| Class B shares1 — first sold 5/18/12 | ||||
| Reflecting applicable contingent deferred sales charge (CDSC), maximum of 5%, payable only if shares are sold within six years of purchase | 11.06 | % | ||
| Not reflecting CDSC | 16.06 | |||
| Class C shares — first sold 5/18/12 | ||||
| Reflecting CDSC, maximum of 1%, payable only if shares are sold within one year of purchase | 15.05 | |||
| Not reflecting CDSC | 16.05 | |||
| Class F-1 shares2 — first sold 5/18/12 | ||||
| Not reflecting annual asset-based fee charged by sponsoring firm | 16.86 | |||
| Class F-2 shares2 — first sold 5/18/12 | ||||
| Not reflecting annual asset-based fee charged by sponsoring firm | 17.12 | |||
| Class 529-A shares3 — first sold 5/18/12 | ||||
| Reflecting 5.75% maximum sales charge | 10.04 | |||
| Not reflecting maximum sales charge | 16.76 | |||
| Class 529-B shares1,3 — first sold 5/18/12 | ||||
| Reflecting applicable CDSC, maximum of 5%, payable only if shares are sold within six years of purchase | 11.05 | |||
| Not reflecting CDSC | 16.05 | |||
| Class 529-C shares3 — first sold 5/18/12 | ||||
| Reflecting CDSC, maximum of 1%, payable only if shares are sold within one year of purchase | 15.00 | |||
| Not reflecting CDSC | 16.00 | |||
| Class 529-E shares2,3 — first sold 5/18/12 | 16.54 | |||
| Class 529-F-1 shares2,3 — first sold 5/18/12 | ||||
| Not reflecting annual asset-based fee charged by sponsoring firm | 17.02 | |||
See page 59 for footnotes.
| American Funds Portfolio Series | 57 |
Other share class results (continued)
| Life of class | ||||
| Income Portfolio | ||||
| Class B shares1 — first sold 5/18/12 | ||||
| Reflecting applicable contingent deferred sales charge (CDSC), maximum of 5%, payable only if shares are sold within six years of purchase | 7.65 | % | ||
| Not reflecting CDSC | 12.65 | |||
| Class C shares — first sold 5/18/12 | ||||
| Reflecting CDSC, maximum of 1%, payable only if shares are sold within one year of purchase | 11.65 | |||
| Not reflecting CDSC | 12.65 | |||
| Class F-1 shares2 — first sold 5/18/12 | ||||
| Not reflecting annual asset-based fee charged by sponsoring firm | 13.41 | |||
| Class F-2 shares2 — first sold 5/18/12 | ||||
| Not reflecting annual asset-based fee charged by sponsoring firm | 13.70 | |||
| Class 529-A shares3 — first sold 5/18/12 | ||||
| Reflecting 5.75% maximum sales charge | 6.75 | |||
| Not reflecting maximum sales charge | 13.26 | |||
| Class 529-B shares1,3 — first sold 5/18/12 | ||||
| Reflecting applicable CDSC, maximum of 5%, payable only if shares are sold within six years of purchase | 7.65 | |||
| Not reflecting CDSC | 12.65 | |||
| Class 529-C shares3 — first sold 5/18/12 | ||||
| Reflecting CDSC, maximum of 1%, payable only if shares are sold within one year of purchase | 11.59 | |||
| Not reflecting CDSC | 12.59 | |||
| Class 529-E shares2,3 — first sold 5/18/12 | 13.13 | |||
| Class 529-F-1 shares2,3 — first sold 5/18/12 | ||||
| Not reflecting annual asset-based fee charged by sponsoring firm | 13.54 | |||
| Tax-Advantaged Income Portfolio | ||||
| Class B shares1 — first sold 5/18/12 | ||||
| Reflecting applicable contingent deferred sales charge (CDSC), maximum of 5%, | ||||
| payable only if shares are sold within six years of purchase | 8.90 | |||
| Not reflecting CDSC | 13.90 | |||
| Class C shares — first sold 5/18/12 | ||||
| Reflecting CDSC, maximum of 1%, payable only if shares are sold within one year of purchase | 12.81 | |||
| Not reflecting CDSC | 13.81 | |||
| Class F-1 shares2 — first sold 5/18/12 | ||||
| Not reflecting annual asset-based fee charged by sponsoring firm | 14.63 | |||
| Class F-2 shares2 — first sold 5/18/12 | ||||
| Not reflecting annual asset-based fee charged by sponsoring firm | 14.79 | |||
| 58 | American Funds Portfolio Series |
| Life of class | ||||
| Preservation Portfolio | ||||
| Class B shares1 — first sold 5/18/12 | ||||
| Reflecting applicable contingent deferred sales charge (CDSC), maximum of 5%, payable only if shares are sold within six years of purchase | –4.35 | % | ||
| Not reflecting CDSC | 0.65 | |||
| Class C shares — first sold 5/18/12 | ||||
| Reflecting CDSC, maximum of 1%, payable only if shares are sold within one year of purchase | –0.38 | |||
| Not reflecting CDSC | 0.62 | |||
| Class F-1 shares2 — first sold 5/18/12 | ||||
| Not reflecting annual asset-based fee charged by sponsoring firm | 1.31 | |||
| Class F-2 shares2 — first sold 5/18/12 | ||||
| Not reflecting annual asset-based fee charged by sponsoring firm | 1.49 | |||
| Class 529-A shares3 — first sold 5/18/12 | ||||
| Reflecting 2.50% maximum sales charge | –1.35 | |||
| Not reflecting maximum sales charge | 1.22 | |||
| Class 529-B shares1,3 — first sold 5/18/12 | ||||
| Reflecting applicable CDSC, maximum of 5%, payable only if shares are sold within six years of purchase | –4.39 | |||
| Not reflecting CDSC | 0.61 | |||
| Class 529-C shares3 — first sold 5/18/12 | ||||
| Reflecting CDSC, maximum of 1%, payable only if shares are sold within one year of purchase | –0.41 | |||
| Not reflecting CDSC | 0.59 | |||
| Class 529-E shares2,3 — first sold 5/18/12 | 1.10 | |||
| Class 529-F-1 shares2,3 — first sold 5/18/12 | ||||
| Not reflecting annual asset-based fee charged by sponsoring firm | 1.42 | |||
| Tax-Exempt Preservation Portfolio | ||||
| Class B shares1 — first sold 5/18/12 | ||||
| Reflecting applicable contingent deferred sales charge (CDSC), maximum of 5%, payable only if shares are sold within six years of purchase | –2.53 | |||
| Not reflecting CDSC | 2.47 | |||
| Class C shares — first sold 5/18/12 | ||||
| Reflecting CDSC, maximum of 1%, payable only if shares are sold within one year of purchase | 1.43 | |||
| Not reflecting CDSC | 2.43 | |||
| Class F-1 shares2 — first sold 5/18/12 | ||||
| Not reflecting annual asset-based fee charged by sponsoring firm | 3.18 | |||
| Class F-2 shares2 — first sold 5/18/12 | ||||
| Not reflecting annual asset-based fee charged by sponsoring firm | 3.30 | |||
| 1 | These shares are not available for purchase. |
| 2 | These shares are sold without any initial or contingent deferred sales charge. |
| 3 | Results shown do not reflect the $10 account setup fee and an annual $10 account maintenance fee. |
Investment results assume all distributions are reinvested and reflect applicable fees and expenses. The investment adviser is currently waiving its management fee of 0.10% and reimbursing a portion of other expenses. Investment results shown reflect the waiver and reimbursements, without which the results would have been lower. After December 31, 2013, the adviser may modify or terminate the waiver, but only with fund board approval. The adviser has committed to retain any reimbursements only through December 31, 2013.
For information regarding the differences among the various share classes, refer to the fund prospectus.
| American Funds Portfolio Series | 59 |
Office of the series
6455 Irvine Center Drive
Irvine, CA 92618
Investment adviser
Capital Research and Management Company
333 South Hope Street
Los Angeles, CA 90071-1406
Transfer agent for shareholder accounts
American Funds Service Company
(Write to the address near you.)
P.O. Box 6007
Indianapolis, IN 46206-6007
P.O. Box 2280
Norfolk, VA 23501-2280
Custodian of assets
JPMorgan Chase Bank
270 Park Avenue
New York, NY 10017-2070
Counsel
Bingham McCutchen LLP
355 South Grand Avenue, Suite 4400
Los Angeles, CA 90071-3106
Independent registered public accounting firm
Deloitte & Touche LLP
695 Town Center Drive
Suite 1200
Costa Mesa, CA 92626-7188
Principal underwriter
American Funds Distributors, Inc.
333 South Hope Street
Los Angeles, CA 90071-1406
| 60 | American Funds Portfolio Series |
Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the series prospectus, which can be obtained from your financial professional and should be read carefully before investing. You may also call American Funds Service Company (AFS) at (800) 421-4225 or visit the American Funds website at americanfunds.com.
“Proxy Voting Guidelines for American Funds Portfolio Series” — which describes how we vote proxies relating to the underlying funds held in the portfolios — is available on the American Funds website or upon request by calling AFS. The series files its proxy voting record with the U.S. Securities and Exchange Commission (SEC) for the 12 months ended June 30 by August 31. The proxy voting record is available free of charge on the SEC website at sec.gov and on the American Funds website.
American Funds Portfolio Series files a complete list of its portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. This filing is available free of charge on the SEC website. You may also review or, for a fee, copy this filing at the SEC’s Public Reference Room in Washington, D.C. Additional information regarding the operation of the Public Reference Room may be obtained by calling the SEC’s Office of Investor Education and Advocacy at (800) SEC-0330. Additionally, the list of portfolio holdings is available by calling AFS.
This report is for the information of shareholders of American Funds Portfolio Series, but it also may be used as sales literature when preceded or accompanied by the current prospectus, which gives details about charges, expenses, investment objectives and operating policies of the series. If used as sales material after June 30, 2013, this report must be accompanied by an American Funds statistical update for the most recently completed calendar quarter.
The American Funds Advantage
Since 1931, American Funds, part of Capital Group, has helped investors pursue long-term investment success. Our consistent approach — in combination with The Capital SystemSM — has resulted in a superior long-term track record.
Aligned with investor success
We base our decisions on a long-term perspective, which we believe aligns our goals with the interests of our clients. Our portfolio managers average 25 years of investment experience, including 20 years at our company, reflecting a career commitment to our long-term approach.1
The Capital SystemSM
Our investment process, The Capital System, combines individual accountability with teamwork. Each fund is divided into portions that are managed independently by investment professionals with diverse backgrounds, ages and investment approaches. An extensive global research effort is the backbone of our system.
Superior long-term track record
Our equity funds have beaten their Lipper peer indexes in 90% of 10-year periods and 96% of 20-year periods. Our fixed-income funds have beaten their Lipper indexes in 58% of 10-year periods and 63% of 20-year periods.2 Our fund management fees have been among the lowest in the industry.3
| 1 | Portfolio manager experience as of December 31, 2012. | |
| 2 | Based on Class A share results for rolling periods through December 31, 2012. Periods covered are the shorter of the fund’s lifetime or since the comparable Lipper index inception date. | |
| 3 | Based on management fees for the 20-year period ended December 31, 2012, versus comparable Lipper categories, excluding funds of funds. |
| American Funds span a range of investment objectives | |
| ¢ | Growth funds |
| AMCAP Fund® | |
| EuroPacific Growth Fund® | |
| The Growth Fund of America® | |
| The New Economy Fund® | |
| New Perspective Fund® | |
| New World Fund® | |
| SMALLCAP World Fund® | |
| ¢ | Growth-and-income funds |
| American Mutual Fund® | |
| Capital World Growth and Income Fund® | |
| Fundamental InvestorsSM | |
| International Growth and Income FundSM | |
| The Investment Company of America® | |
| Washington Mutual Investors FundSM | |
| ¢ | Equity-income funds |
| Capital Income Builder® | |
| The Income Fund of America® | |
| ¢ | Balanced funds |
| American Balanced Fund® | |
| American Funds Global Balanced FundSM | |
| ¢ | Bond funds |
| American Funds Mortgage Fund® | |
| American High-Income Trust® | |
| The Bond Fund of America® | |
| Capital World Bond Fund® | |
| Intermediate Bond Fund of America® | |
| Short-Term Bond Fund of America® | |
| U.S. Government Securities Fund® | |
| ¢ | Tax-exempt bond funds |
| American Funds Short-Term Tax-Exempt Bond Fund® | |
| American High-Income Municipal Bond Fund® | |
| Limited Term Tax-Exempt Bond Fund of America® | |
| The Tax-Exempt Bond Fund of America® | |
| State-specific tax-exempt funds | |
| American Funds Tax-Exempt Fund of New York® | |
| The Tax-Exempt Fund of California® | |
| The Tax-Exempt Fund of Maryland® | |
| The Tax-Exempt Fund of Virginia® | |
| ¢ | Money market fund |
| American Funds Money Market Fund® | |
| ¢ | American Funds Portfolio SeriesSM |
| American Funds Global Growth PortfolioSM | |
| American Funds Growth PortfolioSM | |
| American Funds Growth and Income PortfolioSM | |
| American Funds Balanced PortfolioSM | |
| American Funds Income PortfolioSM | |
| American Funds Tax-Advantaged Income PortfolioSM | |
| American Funds Preservation PortfolioSM | |
| American Funds Tax-Exempt Preservation PortfolioSM | |
| ¢ | American Funds Target Date Retirement Series® |
| ¢ | American Funds College Target Date SeriesSM |
ITEM 2 – Code of Ethics
Not applicable for filing of semi-annual reports to shareholders.
ITEM 3 – Audit Committee Financial Expert
Not applicable for filing of semi-annual reports to shareholders.
ITEM 4 – Principal Accountant Fees and Services
Not applicable for filing of semi-annual reports to shareholders.
ITEM 5 – Audit Committee of Listed Registrants
Not applicable to this Registrant, insofar as the Registrant is not a listed issuer as defined in Rule 10A-3 under the Securities Exchange Act of 1934.
ITEM 6 – Schedule of Investments
Not applicable, insofar as the schedule is included as part of the report to shareholders filed under Item 1 of this Form.
ITEM 7 – Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not applicable to this Registrant, insofar as the Registrant is not a closed-end management investment company.
ITEM 8 – Portfolio Managers of Closed-End Management Investment Companies
Not applicable to this Registrant, insofar as the Registrant is not a closed-end management investment company.
ITEM 9 – Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
Not applicable to this Registrant, insofar as the Registrant is not a closed-end management investment company.
ITEM 10 – Submission of Matters to a Vote of Security Holders
There have been no material changes to the procedures by which shareholders may recommend nominees to the Registrant’s board of trustees since the Registrant last submitted a proxy statement to its shareholders. The procedures are as follows. The Registrant has a nominating and governance committee comprised solely of persons who are not considered ‘‘interested persons’’ of the Registrant within the meaning of the Investment Company Act of 1940, as amended. The committee periodically reviews such issues as the board’s composition, responsibilities, committees, compensation and other relevant issues, and recommends any appropriate changes to the full board of trustees. While the committee normally is able to identify from its own resources an ample number of qualified candidates, it will consider shareholder suggestions of persons to be considered as nominees to fill future vacancies on the board. Such suggestions must be sent in writing to the nominating and governance committee of the Registrant, c/o the Registrant’s Secretary, and must be accompanied by complete biographical and occupational data on the prospective nominee, along with a written consent of the prospective nominee for consideration of his or her name by the nominating and governance committee.
ITEM 11 – Controls and Procedures
| (a) | The Registrant’s Principal Executive Officer and Principal Financial Officer have concluded, based on their evaluation of the Registrant’s disclosure controls and procedures (as such term is defined in Rule 30a-3 under the Investment Company Act of 1940), that such controls and procedures are adequate and reasonably designed to achieve the purposes described in paragraph (c) of such rule. |
| (b) | There were no changes in the Registrant’s internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the Registrant’s second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting. |
ITEM 12 – Exhibits
| (a)(1) | Not applicable for filing of semi-annual reports to shareholders. |
| (a)(2) | The certifications required by Rule 30a-2 of the Investment Company Act of 1940 and Sections 302 and 906 of the Sarbanes-Oxley Act of 2002 are attached as exhibits hereto. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| AMERICAN FUNDS PORTFOLIO SERIES | |
| By /s/ Walter R. Burkley | |
Walter R. Burkley, President and Principal Executive Officer | |
| Date: June 28, 2013 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
| By /s/ Walter R. Burkley |
Walter R. Burkley, President and Principal Executive Officer |
| Date: June 28, 2013 |
| By /s/ Gregory F. Niland |
Gregory F. Niland, Treasurer and Principal Financial Officer |
| Date: June 28, 2013 |