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: (213) 486-9200
Date of fiscal year end: October 31
Date of reporting period: April 30, 2016
Steven I. Koszalka
American Funds Portfolio Series
333 South Hope Street
Los Angeles, California 90071
(Name and Address of Agent for Service)
ITEM 1 – Reports to Stockholders
 | American Funds Portfolio SeriesSM |
| Semi-annual report for the six months ended April 30, 2016 |
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 85 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 total returns on a $1,000 investment with all distributions reinvested for periods ended March 31, 2016 (the most recent calendar quarter-end). Also shown are the expense ratios as of the series prospectus dated January 1, 2016:
| Cumulative | Average annual | |||||||||||
| total returns | total returns | |||||||||||
| Lifetime | ||||||||||||
| Class A shares | 1 year | (since 5/18/12) | Expense ratio | |||||||||
| Reflecting 5.75% maximum initial sales charge: | ||||||||||||
| American Funds Global Growth PortfolioSM | –9.66 | % | 9.12 | % | 0.84 | % | ||||||
| American Funds Growth PortfolioSM | –8.30 | 10.89 | 0.75 | |||||||||
| American Funds Growth and Income PortfolioSM | –6.16 | 8.69 | 0.69 | |||||||||
| American Funds Balanced PortfolioSM | –5.66 | 7.92 | 0.70 | |||||||||
| American Funds Income PortfolioSM | –6.05 | 5.53 | 0.64 | |||||||||
| Reflecting 3.75% maximum initial sales charge: | ||||||||||||
| American Funds Tax-Advantaged Income PortfolioSM | –2.39 | 7.59 | 0.79 | |||||||||
| Reflecting 2.50% maximum initial sales charge: | ||||||||||||
| American Funds Preservation PortfolioSM | –1.49 | 0.40 | 0.71 | |||||||||
| American Funds Tax-Exempt Preservation PortfolioSM | –0.45 | 1.07 | 0.76 | |||||||||
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 investment adviser is currently reimbursing a portion of other expenses for Tax-Exempt Preservation Portfolio. The reimbursement will be in effect through at least January 1, 2017, unless modified or terminated by the investment adviser. Investment results shown reflect the reimbursements, without which the results would have been lower. Expense ratios are as of each fund’s prospectus available at the time of publication and include the weighted average expenses of the underlying funds.
For other share class results, visit americanfunds.com and americanfundsretirement.com.
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.
Contents
| 1 | Letter to investors |
| 4 | Investment portfolios |
| 12 | Financial statements |
| 20 | Notes to financial statements |
| 41 | Financial highlights |
It’s our pleasure to present the semi-annual report for the American Funds Portfolio Series, for the six months ended April 30, 2016. Despite market volatility during the reporting period, all but two of the funds within the series advanced. Returns ranged from 2.49% (for American Funds Income Portfolio) to –1.99% (for American Funds Global Growth Portfolio, global growth being a category that tends to be more reactive to market volatility).
Broadly speaking, fixed-income funds outpaced investments in equity funds, and funds with larger concentrations of equities domiciled in the U.S. tended to fare better than those with significant holdings in non-U.S. companies. Generally, funds with an income focus, which are likely to be more heavily weighted in the higher yielding telecommunications and utilities sectors, tended to outpace those with a growth objective.
As always, we remind investors that six months is a limited period from which to extract and examine results. It is very important to keep a long-term perspective, especially when short-term results exhibit marked fluctuations.
About the series
The American Funds Portfolio Series consists of eight funds of funds that are designed to help investors pursue real-life goals, both long- and short-term, within a framework of three common objectives: preservation, balance and growth. These funds of funds can be used individually or in combination, based on an investor’s needs, risk tolerance and time horizon (the total length of time that an investor expects to hold a security or portfolio, before it will be used to fund retirement or college, for example).
The series was created by the American Funds Portfolio Oversight Committee, a group of seasoned investment professionals with varied backgrounds, diverse investment approaches and decades of experience. The Committee regularly monitors the Portfolio Series funds.
The economy
The U.S. economy continued to grow at a modest pace over the first six months of the Portfolio Series’ fiscal year. U.S. economic indicators were generally weaker during the reporting period, with real gross domestic product increasing 1.4% for the fourth quarter of 2015, and 0.5% in the first quarter of 2016. This reflected a drop in private investment and slower consumer spending. The labor market continued to be a bright spot, as payroll employment increased by 208,000 in March and the labor force participation rate increased for four straight months.
Mixed U.S. economic data amplified the deep uncertainty among many investors over the sharp slowing of growth in China, exacerbated by the continued decline in oil prices that has hurt emerging markets economies.
The stock market
Exhibiting volatile behavior early in the reporting period, the U.S. stock market ended the period essentially flat, with the Standard & Poor’s 500 Composite Index (a market capitalization-weighted index based on the results of 500 widely held common stocks) advancing 0.43%. Signs that commodity prices have stabilized, along with improved investor sentiment, may have helped share prices recover from their lows.
| American Funds Portfolio Series | 1 |
International markets were off slightly, with the MSCI All Country World ex USA Index (a leading benchmark for developed markets outside North America) registering –1.75% for the period. China and the U.K. fell 9.44% and 7.14% respectively. Japanese companies weakened by 3.81% amid fears that the resurgent yen would hurt company profits and derail government efforts to prevent deflation. Companies domiciled in Europe produced lower returns. The European Central Bank lowered interest rates and expanded its quantitative easing program in an attempt to slow deflation.
The bond market
In December, the Federal Reserve raised the federal funds rate (the rate at which the central bank loans money to other banks) by 25 basis points. While this was expected, it was significant because it was the first such move by the Fed since 2006. The Fed opted not to increase the rate again in early 2016, saying it would continue to closely monitor inflation and global economic conditions.
U.S. bonds were volatile during late 2015, with yields trending higher as the Fed raised interest rates. The broad U.S. market advanced over the reporting period, however, with the Barclays U.S. Aggregate Index (a measure of the broad fixed-income investment-grade market of bonds rated BBB/Baa and above) gaining 2.82%. Global bonds posted solid gains, with the Barclays Global Aggregate Index increasing 6.09%. Among U.S. corporate sectors the Barclays U.S. Corporate High Yield 2% Issuer Capped Index gained 2.38% and the Citigroup Broad Investment Grade (BIG) Index advanced 2.86%.
How the series fared
The eight portfolios in the series are combinations of individual funds, which makes the results of the underlying funds a primary driver of series results. Six of the funds in the series posted positive results. Those geared toward income — American Funds Income Portfolio and American Funds Growth and Income Portfolio — increased 2.49% and 1.25%, respectively. These funds benefited from greater investments in higher yielding telecommunications services and utilities sectors, and fared better than the growth-oriented funds as a result.
The two growth funds that posted negative results over the period were American Funds Global Growth Portfolio, at –1.99%, and American Funds Growth Portfolio, at –0.74%. Growth-oriented stocks, which tend to be more sensitive to market volatility, lagged fixed income in keeping with financial markets’ results. Key underlying funds that detracted were The New Economy Fund, an equity fund that seeks companies deeply involved in innovation and new technologies; and EuroPacific Growth Fund, which invests in large and small European and Pacific Basin countries.
Underlying bond funds experienced solid returns. Capital World Bond Fund, which invests in both developed and developing markets in both sovereign and corporate bonds, advanced 4.85%. Also benefitting the fixed-income category were American High-Income Municipal Bond Fund, which seeks high-yield, tax-exempt bonds and notes, at 4.74%; followed by The Tax-Exempt Bond Fund of America, which offers a quality-oriented, diversified range of tax-exempt bonds, at 3.36%. American Mutual Fund, an equity fund which aims for conservation of capital, increased 3.24%.
The table on page 3 shows the lifetime results for the funds (since May 18, 2012). Please keep in mind that this four-year period is a relatively brief investment time frame. As always, we encourage investors to maintain a long-term outlook, since the funds in the series are designed as long-term investments.
Moving forward
From a global investment perspective, we continue to monitor the situations in China and Japan, as well as Europe’s economic challenges and the U.K.’s potential departure from the European Union. While these are difficult markets, we believe there are still opportunities to be found and that choosing companies with strong fundamentals is key.
The U.S. economy continues to recover and expansion remains on track despite external pressures. U.S. company earnings overall appear to be strong, but we anticipate more market volatility over the coming period. Looking ahead, we remain cautiously optimistic. We believe the U.S. economy is in the midst of an extraordinary transformation and that innovation and entrepreneurialism are the chief engines of our nation’s resilience in the face of adversity. As this transformation continues, we expect to find long-term growth opportunities for both companies and investors.
We thank you for placing your trust in American Funds. As always, we take a long-term, research-driven approach to investing that has served clients for 85 years.
We look forward to reporting to you again in six months.
Cordially,
Bradley J. Vogt
Vice Chairman of the Board
Walter R. Burkley
President
June 13, 2016
For current information about the series, visit americanfunds.com.
| 2 | American Funds Portfolio Series |
Results at a glance
For periods ended April 30, 2016, with all distributions reinvested for Class A shares
| Cumulative | Average annual | |||||||||||
| total returns | total returns | |||||||||||
| Lifetime | ||||||||||||
| 6 months | 1 year | (since 5/18/12) | ||||||||||
| American Funds Global Growth Portfolio | –1.99 | % | –5.31 | % | 10.82 | % | ||||||
| MSCI All Country World Index (ACWI)*† | –0.94 | –5.66 | 10.17 | |||||||||
| Lipper Global Funds Index | –1.57 | –5.49 | 10.77 | |||||||||
| American Funds Growth Portfolio | –0.74 | –3.19 | 12.74 | |||||||||
| Standard & Poor’s 500 Composite Index* | 0.43 | 1.21 | 14.95 | |||||||||
| Lipper Growth Funds Index | –2.27 | –2.10 | 14.17 | |||||||||
| American Funds Growth and Income Portfolio | 1.25 | –1.00 | 10.54 | |||||||||
| Standard & Poor’s 500 Composite Index* | 0.43 | 1.21 | 14.95 | |||||||||
| Lipper Growth and Income Funds Index | 0.12 | –2.46 | 11.77 | |||||||||
| American Funds Balanced Portfolio | 1.04 | –0.17 | 9.69 | |||||||||
| Standard & Poor’s 500 Composite Index* | 0.43 | 1.21 | 14.95 | |||||||||
| Lipper Balanced Funds Index | 0.77 | –0.69 | 8.65 | |||||||||
| American Funds Income Portfolio | 2.49 | –0.23 | 7.36 | |||||||||
| Standard & Poor’s 500 Composite Index* | 0.43 | 1.21 | 14.95 | |||||||||
| Lipper Income Funds Index | 1.13 | –1.05 | 5.94 | |||||||||
| American Funds Tax-Advantaged Income Portfolio | 2.22 | 1.93 | 8.76 | |||||||||
| Barclays Municipal Bond Index* | 3.55 | 5.29 | 3.77 | |||||||||
| Lipper Income Funds Index | 1.13 | –1.05 | 5.94 | |||||||||
| American Funds Preservation Portfolio | 1.23 | 1.25 | 1.12 | |||||||||
| Barclays U.S. Government/Credit 1–7 Years ex BBB Index* | 1.59 | 2.12 | 1.59 | |||||||||
| Lipper Short-Intermediate Investment-Grade Debt Funds Index | 1.41 | 1.13 | 1.78 | |||||||||
| American Funds Tax-Exempt Preservation Portfolio | 1.81 | 2.85 | 2.39 | |||||||||
| Barclays Municipal Short-Intermediate 1–10 Years Index* | 1.83 | 3.22 | 2.30 | |||||||||
| Lipper Intermediate Municipal Debt Funds Index | 2.96 | 4.27 | 2.91 | |||||||||
| * | The market indexes are unmanaged and, therefore, have no expenses. Investors cannot invest directly in an index. |
| † | 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 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 BBB/Baa and above) 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. Lipper indexes track the largest mutual funds (no more than 30), represented by one share class per fund, in the corresponding Lipper category.
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 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, 2016 |
| Fund investments | Shares | Value (000) | ||||||
| Growth funds 70% | ||||||||
| New Perspective Fund, Class R-6 | 14,233,352 | $ | 505,569 | |||||
| New World Fund, Inc., Class R-6 | 6,657,131 | 338,182 | ||||||
| The New Economy Fund, Class R-6 | 9,665,561 | 334,622 | ||||||
| 1,178,373 | ||||||||
| Growth-and-income funds 30% | ||||||||
| Capital World Growth and Income Fund, Class R-6 | 11,593,690 | 509,079 | ||||||
| Total investment securities 100% (cost: $1,732,734,000) | 1,687,452 | |||||||
| Other assets less liabilities 0% | (298 | ) | ||||||
| Net assets 100% | $ | 1,687,154 | ||||||
See Notes to Financial Statements
| 4 | American Funds Portfolio Series |
| American Funds Growth Portfolio | unaudited |
| Investment portfolio, April 30, 2016 |
| Fund investments | Shares | Value (000) | ||||||
| Growth funds 70% | ||||||||
| AMCAP Fund, Class R-6 | 41,965,584 | $ | 1,117,963 | |||||
| EuroPacific Growth Fund, Class R-6 | 20,790,912 | 932,680 | ||||||
| SMALLCAP World Fund, Inc., Class R-6 | 12,791,864 | 558,749 | ||||||
| 2,609,392 | ||||||||
| Growth-and-income funds 30% | ||||||||
| Fundamental Investors, Class R-6 | 21,696,572 | 1,120,628 | ||||||
| Total investment securities 100% (cost: $3,757,669,000) | 3,730,020 | |||||||
| Other assets less liabilities 0% | (1,369 | ) | ||||||
| Net assets 100% | $ | 3,728,651 | ||||||
See Notes to Financial Statements
| American Funds Portfolio Series | 5 |
| American Funds Growth and Income Portfolio | unaudited |
| Investment portfolio, April 30, 2016 |
| Fund investments | Shares | Value (000) | ||||||
| Growth funds 20% | ||||||||
| The Growth Fund of America, Class R-6 | 26,874,704 | $ | 1,100,788 | |||||
| Growth-and-income funds 40% | ||||||||
| Capital World Growth and Income Fund, Class R-6 | 25,060,477 | 1,100,405 | ||||||
| The Investment Company of America, Class R-6 | 31,422,807 | 1,100,427 | ||||||
| 2,200,832 | ||||||||
| Equity-income and Balanced funds 25% | ||||||||
| Capital Income Builder, Class R-6 | 23,799,347 | 1,381,076 | ||||||
| Fixed income funds 15% | ||||||||
| Capital World Bond Fund, Class R-6 | 41,796,539 | 840,111 | ||||||
| Total investment securities 100% (cost: $5,483,108,000) | 5,522,807 | |||||||
| Other assets less liabilities 0% | (2,060 | ) | ||||||
| Net assets 100% | $ | 5,520,747 | ||||||
Investments in affiliates
This holding is an affiliate of the fund under the Investment Company Act of 1940 since the fund holds 5% or more of its outstanding voting shares. Further details on this holding and related transactions during the six months ended April 30, 2016, appear below.
| Value of | |||||||||||||||||||
| Dividend | affiliates at | ||||||||||||||||||
| Beginning | Ending | income | 4/30/2016 | ||||||||||||||||
| shares | Additions | Reductions | shares | (000) | (000) | ||||||||||||||
| Capital World Bond Fund, Class R-6 | 38,079,140 | 3,813,942 | 96,543 | 41,796,539 | $ | 6,737 | $ | 840,111 | |||||||||||
See Notes to Financial Statements
| 6 | American Funds Portfolio Series |
| American Funds Balanced Portfolio | unaudited |
| Investment portfolio, April 30, 2016 |
| Fund investments | Shares | Value (000) | ||||||
| Growth funds 20% | ||||||||
| New Perspective Fund, Class R-6 | 26,345,086 | $ | 935,777 | |||||
| Growth-and-income funds 20% | ||||||||
| Capital World Growth and Income Fund, Class R-6 | 10,634,745 | 466,972 | ||||||
| Washington Mutual Investors Fund, Class R-6 | 11,851,223 | 466,938 | ||||||
| 933,910 | ||||||||
| Equity-income and Balanced funds 40% | ||||||||
| American Balanced Fund, Class R-6 | 38,257,460 | 935,778 | ||||||
| American Funds Global Balanced Fund, Class R-6 | 31,753,448 | 939,267 | ||||||
| 1,875,045 | ||||||||
| Fixed income funds 20% | ||||||||
| The Bond Fund of America, Class R-6 | 72,869,594 | 943,661 | ||||||
| Total investment securities 100% (cost: $4,571,126,000) | 4,688,393 | |||||||
| Other assets less liabilities 0% | (1,846 | ) | ||||||
| Net assets 100% | $ | 4,686,547 | ||||||
Investments in affiliates
This holding is an affiliate of the fund under the Investment Company Act of 1940 since the fund holds 5% or more of its outstanding voting shares. Further details on this holding and related transactions during the six months ended April 30, 2016, appear below.
| Value of | |||||||||||||||||||
| Dividend | affiliates at | ||||||||||||||||||
| Beginning | Ending | income | 4/30/2016 | ||||||||||||||||
| shares | Additions | Reductions | shares | (000) | (000) | ||||||||||||||
| American Funds Global Balanced Fund, Class R-6 | 26,894,799 | 4,858,649 | — | 31,753,448 | $ | 7,540 | $ | 939,267 | |||||||||||
See Notes to Financial Statements
| American Funds Portfolio Series | 7 |
| American Funds Income Portfolio | unaudited |
| Investment portfolio, April 30, 2016 |
| Fund investments | Shares | Value (000) | ||||||
| Growth-and-income funds 20% | ||||||||
| American Mutual Fund, Class R-6 | 19,381,155 | $ | 686,287 | |||||
| Equity-income and Balanced funds 50% | ||||||||
| Capital Income Builder, Class R-6 | 14,797,284 | 858,686 | ||||||
| The Income Fund of America, Class R-6 | 41,178,588 | 858,574 | ||||||
| 1,717,260 | ||||||||
| Fixed income funds 30% | ||||||||
| American High-Income Trust, Class R-6 | 53,516,066 | 523,922 | ||||||
| U.S. Government Securities Fund, Class R-6 | 36,549,235 | 518,268 | ||||||
| 1,042,190 | ||||||||
| Total investment securities 100% (cost: $3,398,691,000) | 3,445,737 | |||||||
| Other assets less liabilities 0% | (1,443 | ) | ||||||
| Net assets 100% | $ | 3,444,294 | ||||||
Investments in affiliates
This holding is an affiliate of the fund under the Investment Company Act of 1940 since the fund holds 5% or more of its outstanding voting shares. Further details on this holding and related transactions during the six months ended April 30, 2016, appear below.
| Value of | |||||||||||||||||||
| Dividend | affiliates at | ||||||||||||||||||
| Beginning | Ending | income | 4/30/2016 | ||||||||||||||||
| shares | Additions | Reductions | shares | (000) | (000) | ||||||||||||||
| U.S. Government Securities Fund, Class R-6 | 43,703,109 | 4,645,084 | 11,798,958 | 36,549,235 | $ | 3,483 | $ | 518,268 | |||||||||||
See Notes to Financial Statements
| 8 | American Funds Portfolio Series |
| American Funds Tax-Advantaged Income Portfolio | unaudited |
| Investment portfolio, April 30, 2016 |
| Fund investments | Shares | Value (000) | ||||||
| Growth-and-income funds 50% | ||||||||
| Capital World Growth and Income Fund, Class R-6 | 5,445,316 | $ | 239,104 | |||||
| Washington Mutual Investors Fund, Class R-6 | 6,069,372 | 239,133 | ||||||
| 478,237 | ||||||||
| Tax-exempt fixed income funds 50% | ||||||||
| American High-Income Municipal Bond Fund, Class R-6 | 15,121,695 | 240,737 | ||||||
| The Tax-Exempt Bond Fund of America, Class R-6 | 18,149,484 | 240,481 | ||||||
| 481,218 | ||||||||
| Total investment securities 100% (cost: $930,628,000) | 959,455 | |||||||
| Other assets less liabilities 0% | (431 | ) | ||||||
| Net assets 100% | $ | 959,024 | ||||||
Investments in affiliates
This holding is an affiliate of the fund under the Investment Company Act of 1940 since the fund holds 5% or more of its outstanding voting shares. Further details on this holding and related transactions during the six months ended April 30, 2016, appear below.
| Value of | |||||||||||||||||||
| Dividend | affiliates at | ||||||||||||||||||
| Beginning | Ending | income | 4/30/2016 | ||||||||||||||||
| shares | Additions | Reductions | shares | (000) | (000) | ||||||||||||||
| American High-Income Municipal Bond Fund, Class R-6 | 12,970,358 | 2,178,350 | 27,013 | 15,121,695 | $ | 4,602 | $ | 240,737 | |||||||||||
See Notes to Financial Statements
| American Funds Portfolio Series | 9 |
| American Funds Preservation Portfolio | unaudited |
| Investment portfolio, April 30, 2016 |
| Fund investments | Shares | Value (000) | ||||||
| Fixed income funds 100% | ||||||||
| Intermediate Bond Fund of America, Class R-6 | 31,426,262 | $ | 428,654 | |||||
| Short-Term Bond Fund of America, Class R-6 | 42,865,422 | 428,654 | ||||||
| The Bond Fund of America, Class R-6 | 16,559,640 | 214,448 | ||||||
| 1,071,756 | ||||||||
| Total investment securities 100% (cost: $1,068,889,000) | 1,071,756 | |||||||
| Other assets less liabilities 0% | (437 | ) | ||||||
| Net assets 100% | $ | 1,071,319 | ||||||
Investments in affiliates
This holding is an affiliate of the fund under the Investment Company Act of 1940 since the fund holds 5% or more of its outstanding voting shares. Further details on this holding and related transactions during the six months ended April 30, 2016, appear below.
| Value of | |||||||||||||||||||
| Dividend | affiliates at | ||||||||||||||||||
| Beginning | Ending | income | 4/30/2016 | ||||||||||||||||
| shares | Additions | Reductions | shares | (000) | (000) | ||||||||||||||
| Short-Term Bond Fund of America, Class R-6 | 35,637,520 | 7,850,283 | 622,381 | 42,865,422 | $ | 1,781 | $ | 428,654 | |||||||||||
See Notes to Financial Statements
| 10 | American Funds Portfolio Series |
| American Funds Tax-Exempt Preservation Portfolio | unaudited |
| Investment portfolio, April 30, 2016 |
| Fund investments | Shares | Value (000) | ||||||
| Tax-exempt fixed income funds 100% | ||||||||
| Limited Term Tax-Exempt Bond Fund of America, Class R-6 | 15,993,276 | $ | 255,893 | |||||
| The Tax-Exempt Bond Fund of America, Class R-6 | 8,284,093 | 109,764 | ||||||
| 365,657 | ||||||||
| Total investment securities 100% (cost: $365,544,000) | 365,657 | |||||||
| Other assets less liabilities 0% | (93 | ) | ||||||
| Net assets 100% | $ | 365,564 | ||||||
Investments in affiliates
This holding is an affiliate of the fund under the Investment Company Act of 1940 since the fund holds 5% or more of its outstanding voting shares. Further details on this holding and related transactions during the six months ended April 30, 2016, appear below.
| Value of | |||||||||||||||||||
| Dividend | affiliates at | ||||||||||||||||||
| Beginning | Ending | income | 4/30/2016 | ||||||||||||||||
| shares | Additions | Reductions | shares | (000) | (000) | ||||||||||||||
| Limited Term Tax-Exempt Bond Fund of America, Class R-6 | 13,293,797 | 3,233,471 | 533,992 | 15,993,276 | $ | 2,832 | $ | 255,893 | |||||||||||
See Notes to Financial Statements
| American Funds Portfolio Series | 11 |
Statements of assets and liabilities
at April 30, 2016
| Global Growth | Growth | Growth and Income | ||||||||||
| Portfolio | Portfolio | Portfolio | ||||||||||
| Assets: | ||||||||||||
| Investment securities, at value: | ||||||||||||
| Unaffiliated issuers | $ | 1,687,452 | $ | 3,730,020 | $ | 4,682,696 | ||||||
| Affiliated issuers | — | — | 840,111 | |||||||||
| Receivables for: | ||||||||||||
| Sales of fund’s shares | 2,430 | 5,554 | 7,674 | |||||||||
| Dividends | — | — | — | |||||||||
| Total assets | 1,689,882 | 3,735,574 | 5,530,481 | |||||||||
| Liabilities: | ||||||||||||
| Payables for: | ||||||||||||
| Purchases of investments | 536 | 3,154 | 4,186 | |||||||||
| Repurchases of fund’s shares | 1,559 | 2,376 | 3,460 | |||||||||
| Services provided by related parties | 615 | 1,353 | 2,045 | |||||||||
| Trustees’ deferred compensation | 3 | 6 | 10 | |||||||||
| Other | 15 | 34 | 33 | |||||||||
| Total liabilities | 2,728 | 6,923 | 9,734 | |||||||||
| Net assets at April 30, 2016 | $ | 1,687,154 | $ | 3,728,651 | $ | 5,520,747 | ||||||
| Net assets consist of: | ||||||||||||
| Capital paid in on shares of beneficial interest | $ | 1,684,461 | $ | 3,636,680 | $ | 5,332,761 | ||||||
| Undistributed (distributions in excess of) net investment income | 162 | (1,707 | ) | (3,281 | ) | |||||||
| Undistributed (accumulated) net realized gain (loss) | 47,813 | 121,327 | 151,568 | |||||||||
| Net unrealized (depreciation) appreciation | (45,282 | ) | (27,649 | ) | 39,699 | |||||||
| Net assets at April 30, 2016 | $ | 1,687,154 | $ | 3,728,651 | $ | 5,520,747 | ||||||
| Investment securities, at cost: | ||||||||||||
| Unaffiliated issuers | $ | 1,732,734 | $ | 3,757,669 | $ | 4,633,716 | ||||||
| Affiliated issuers | — | — | 849,392 | |||||||||
*Amount less than one thousand.
See Notes to Financial Statements
| 12 | American Funds Portfolio Series |
unaudited
(dollars in thousands)
| Balanced | Income | Tax-Advantaged Income | Preservation | Tax-Exempt Preservation | ||||||||||||||
| Portfolio | Portfolio | Portfolio | Portfolio | Portfolio | ||||||||||||||
| $ | 3,749,126 | $ | 2,927,469 | $ | 718,718 | $ | 643,102 | $ | 109,764 | |||||||||
| 939,267 | 518,268 | 240,737 | 428,654 | 255,893 | ||||||||||||||
| 7,636 | 4,468 | 1,341 | 2,683 | 541 | ||||||||||||||
| 1,237 | 3,208 | 1,430 | 1,091 | 791 | ||||||||||||||
| 4,697,266 | 3,453,413 | 962,226 | 1,075,530 | 366,989 | ||||||||||||||
| 6,941 | 6,015 | 2,230 | 2,538 | 937 | ||||||||||||||
| 1,931 | 1,660 | 541 | 1,205 | 396 | ||||||||||||||
| 1,816 | 1,427 | 430 | 458 | 92 | ||||||||||||||
| 8 | 7 | 1 | 2 | — | * | |||||||||||||
| 23 | 10 | — | 8 | — | ||||||||||||||
| 10,719 | 9,119 | 3,202 | 4,211 | 1,425 | ||||||||||||||
| $ | 4,686,547 | $ | 3,444,294 | $ | 959,024 | $ | 1,071,319 | $ | 365,564 | |||||||||
| $ | 4,459,389 | $ | 3,378,543 | $ | 917,616 | $ | 1,068,663 | $ | 368,055 | |||||||||
| 2,293 | (2,026 | ) | 1,407 | (397 | ) | 286 | ||||||||||||
| 107,598 | 20,731 | 11,174 | 186 | (2,890 | ) | |||||||||||||
| 117,267 | 47,046 | 28,827 | 2,867 | 113 | ||||||||||||||
| $ | 4,686,547 | $ | 3,444,294 | $ | 959,024 | $ | 1,071,319 | $ | 365,564 | |||||||||
| $ | 3,613,755 | $ | 2,889,256 | $ | 699,040 | $ | 639,421 | $ | 107,800 | |||||||||
| 957,371 | 509,435 | 231,588 | 429,468 | 257,744 | ||||||||||||||
| American Funds Portfolio Series | 13 |
Statements of assets and liabilities
at April 30, 2016
| Global Growth | Growth | Growth and Income | |||||||||||
| Portfolio | Portfolio | Portfolio | |||||||||||
| Shares of beneficial interest issued and outstanding (no stated par value) — unlimited shares authorized | |||||||||||||
| Class A: | Net assets | $ | 1,039,719 | $ | 2,302,578 | $ | 3,715,514 | ||||||
| Shares outstanding | 75,641 | 157,718 | 283,588 | ||||||||||
| Net asset value per share | $ | 13.75 | $ | 14.60 | $ | 13.10 | |||||||
| Class B: | Net assets | $ | 1,072 | $ | 2,540 | $ | 3,853 | ||||||
| Shares outstanding | 78 | 176 | 295 | ||||||||||
| Net asset value per share | $ | 13.68 | $ | 14.46 | $ | 13.08 | |||||||
| Class C: | Net assets | $ | 215,493 | $ | 542,696 | $ | 849,499 | ||||||
| Shares outstanding | 15,878 | 37,695 | 65,199 | ||||||||||
| Net asset value per share | $ | 13.57 | $ | 14.40 | $ | 13.03 | |||||||
| Class F-1: | Net assets | $ | 38,548 | $ | 62,758 | $ | 95,752 | ||||||
| Shares outstanding | 2,802 | 4,301 | 7,308 | ||||||||||
| Net asset value per share | $ | 13.76 | $ | 14.59 | $ | 13.10 | |||||||
| Class F-2: | Net assets | $ | 71,871 | $ | 130,293 | $ | 156,292 | ||||||
| Shares outstanding | 5,213 | 8,896 | 11,913 | ||||||||||
| Net asset value per share | $ | 13.79 | $ | 14.65 | $ | 13.12 | |||||||
| Class 529-A: | Net assets | $ | 137,532 | $ | 323,791 | $ | 300,788 | ||||||
| Shares outstanding | 10,015 | 22,197 | 22,966 | ||||||||||
| Net asset value per share | $ | 13.73 | $ | 14.59 | $ | 13.10 | |||||||
| Class 529-B: | Net assets | $ | 250 | $ | 519 | $ | 649 | ||||||
| Shares outstanding | 18 | 36 | 50 | ||||||||||
| Net asset value per share | $ | 13.65 | $ | 14.43 | $ | 13.09 | |||||||
| Class 529-C: | Net assets | $ | 56,087 | $ | 109,359 | $ | 123,165 | ||||||
| Shares outstanding | 4,136 | 7,593 | 9,446 | ||||||||||
| Net asset value per share | $ | 13.56 | $ | 14.40 | $ | 13.04 | |||||||
| Class 529-E: | Net assets | $ | 5,241 | $ | 15,721 | $ | 15,696 | ||||||
| Shares outstanding | 383 | 1,084 | 1,201 | ||||||||||
| Net asset value per share | $ | 13.68 | $ | 14.51 | $ | 13.07 | |||||||
| Class 529-F-1: | Net assets | $ | 9,389 | $ | 26,076 | $ | 23,100 | ||||||
| Shares outstanding | 682 | 1,782 | 1,762 | ||||||||||
| Net asset value per share | $ | 13.77 | $ | 14.63 | $ | 13.11 | |||||||
| Class R-1: | Net assets | $ | 2,952 | $ | 7,462 | $ | 7,651 | ||||||
| Shares outstanding | 217 | 516 | 586 | ||||||||||
| Net asset value per share | $ | 13.60 | $ | 14.45 | $ | 13.05 | |||||||
| Class R-2: | Net assets | $ | 40,929 | $ | 81,118 | $ | 79,318 | ||||||
| Shares outstanding | 3,021 | 5,632 | 6,091 | ||||||||||
| Net asset value per share | $ | 13.55 | $ | 14.40 | $ | 13.02 | |||||||
| Class R-2E: | Net assets | $ | 10 | $ | 1,727 | $ | 1,716 | ||||||
| Shares outstanding | 1 | 119 | 131 | ||||||||||
| Net asset value per share | $ | 13.73 | $ | 14.51 | $ | 13.08 | |||||||
| Class R-3: | Net assets | $ | 19,493 | $ | 42,982 | $ | 50,831 | ||||||
| Shares outstanding | 1,426 | 2,958 | 3,891 | ||||||||||
| Net asset value per share | $ | 13.67 | $ | 14.53 | $ | 13.06 | |||||||
| Class R-4: | Net assets | $ | 9,296 | $ | 27,227 | $ | 44,218 | ||||||
| Shares outstanding | 677 | 1,867 | 3,376 | ||||||||||
| Net asset value per share | $ | 13.73 | $ | 14.58 | $ | 13.10 | |||||||
| Class R-5E: | Net assets | $ | 9 | $ | 9 | $ | 10 | ||||||
| Shares outstanding | 1 | 1 | 1 | ||||||||||
| Net asset value per share | $ | 13.71 | $ | 14.57 | $ | 13.09 | |||||||
| Class R-5: | Net assets | $ | 3,399 | $ | 6,320 | $ | 4,018 | ||||||
| Shares outstanding | 246 | 430 | 306 | ||||||||||
| Net asset value per share | $ | 13.84 | $ | 14.70 | $ | 13.14 | |||||||
| Class R-6: | Net assets | $ | 35,864 | $ | 45,475 | $ | 48,677 | ||||||
| Shares outstanding | 2,587 | 3,101 | 3,709 | ||||||||||
| Net asset value per share | $ | 13.86 | $ | 14.67 | $ | 13.12 | |||||||
See Notes to Financial Statements
| 14 | American Funds Portfolio Series |
unaudited
(dollars and shares in thousands, except per-share amounts)
| Balanced | Income | Tax-Advantaged Income | Preservation | Tax-Exempt Preservation | ||||||||||||||
| Portfolio | Portfolio | Portfolio | Portfolio | Portfolio | ||||||||||||||
| $ | 2,964,519 | $ | 2,437,389 | $ | 756,195 | $ | 691,384 | $ | 267,348 | |||||||||
| 225,459 | 210,839 | 60,863 | 69,010 | 26,778 | ||||||||||||||
| $ | 13.15 | $ | 11.56 | $ | 12.42 | $ | 10.02 | $ | 9.98 | |||||||||
| $ | 3,182 | $ | 2,446 | $ | 112 | $ | 950 | $ | 64 | |||||||||
| 242 | 212 | 9 | 95 | 6 | ||||||||||||||
| $ | 13.13 | $ | 11.55 | $ | 12.44 | $ | 10.02 | $ | 10.00 | |||||||||
| $ | 786,977 | $ | 582,667 | $ | 124,767 | $ | 161,484 | $ | 59,020 | |||||||||
| 60,178 | 50,653 | 10,096 | 16,144 | 5,921 | ||||||||||||||
| $ | 13.08 | $ | 11.50 | $ | 12.36 | $ | 10.00 | $ | 9.97 | |||||||||
| $ | 120,427 | $ | 78,999 | $ | 31,731 | $ | 23,016 | $ | 7,681 | |||||||||
| 9,159 | 6,831 | 2,554 | 2,297 | 769 | ||||||||||||||
| $ | 13.15 | $ | 11.56 | $ | 12.42 | $ | 10.02 | $ | 9.99 | |||||||||
| $ | 166,119 | $ | 111,677 | $ | 46,219 | $ | 32,710 | $ | 31,451 | |||||||||
| 12,617 | 9,648 | 3,716 | 3,265 | 3,150 | ||||||||||||||
| $ | 13.17 | $ | 11.57 | $ | 12.44 | $ | 10.02 | $ | 9.98 | |||||||||
| $ | 197,475 | $ | 73,941 | $ | 67,048 | |||||||||||||
| 15,020 | 6,398 | 6,694 | ||||||||||||||||
| $ | 13.15 | $ | 11.56 | $ | 10.02 | |||||||||||||
| $ | 471 | $ | 259 | $ | 267 | |||||||||||||
| 36 | 22 | 27 | ||||||||||||||||
| $ | 13.14 | $ | 11.55 | $ | 10.02 | |||||||||||||
| $ | 97,375 | $ | 45,220 | $ | 29,459 | |||||||||||||
| 7,438 | 3,929 | 2,944 | ||||||||||||||||
| $ | 13.09 | $ | 11.51 | $ | 10.01 | |||||||||||||
| $ | 8,672 | $ | 5,921 | $ | 2,767 | |||||||||||||
| 661 | 513 | 276 | ||||||||||||||||
| $ | 13.13 | $ | 11.55 | $ | 10.01 | |||||||||||||
| $ | 19,600 | $ | 7,758 | $ | 11,815 | |||||||||||||
| 1,489 | 671 | 1,179 | ||||||||||||||||
| $ | 13.16 | $ | 11.57 | $ | 10.02 | |||||||||||||
| $ | 10,229 | $ | 1,776 | $ | 1,807 | |||||||||||||
| 781 | 154 | 181 | ||||||||||||||||
| $ | 13.10 | $ | 11.51 | $ | 10.01 | |||||||||||||
| $ | 66,289 | $ | 24,258 | $ | 16,153 | |||||||||||||
| 5,066 | 2,107 | 1,616 | ||||||||||||||||
| $ | 13.09 | $ | 11.51 | $ | 10.00 | |||||||||||||
| $ | 1,523 | $ | 10 | $ | 443 | |||||||||||||
| 116 | 1 | 44 | ||||||||||||||||
| $ | 13.13 | $ | 11.56 | $ | 10.02 | |||||||||||||
| $ | 70,322 | $ | 20,263 | $ | 14,536 | |||||||||||||
| 5,359 | 1,755 | 1,452 | ||||||||||||||||
| $ | 13.12 | $ | 11.54 | $ | 10.01 | |||||||||||||
| $ | 67,552 | $ | 27,200 | $ | 7,887 | |||||||||||||
| 5,137 | 2,353 | 787 | ||||||||||||||||
| $ | 13.15 | $ | 11.56 | $ | 10.02 | |||||||||||||
| $ | 10 | $ | 10 | $ | 10 | |||||||||||||
| 1 | 1 | 1 | ||||||||||||||||
| $ | 13.15 | $ | 11.56 | $ | 10.03 | |||||||||||||
| $ | 11,600 | $ | 3,772 | $ | 981 | |||||||||||||
| 881 | 326 | 98 | ||||||||||||||||
| $ | 13.17 | $ | 11.58 | $ | 10.02 | |||||||||||||
| $ | 94,205 | $ | 20,728 | $ | 8,602 | |||||||||||||
| 7,152 | 1,790 | 858 | ||||||||||||||||
| $ | 13.17 | $ | 11.58 | $ | 10.02 | |||||||||||||
| American Funds Portfolio Series | 15 |
Statements of operations
for the six months ended April 30, 2016
| Global Growth | Growth | Growth and Income | ||||||||||
| Portfolio | Portfolio | Portfolio | ||||||||||
| Investment income: | ||||||||||||
| Income: | ||||||||||||
| Dividends: | ||||||||||||
| Unaffiliated issuers | $ | 16,605 | $ | 27,985 | $ | 57,927 | ||||||
| Affiliated issuers | — | — | 6,737 | |||||||||
| 16,605 | 27,985 | 64,664 | ||||||||||
| Fees and expenses*: | ||||||||||||
| Investment advisory services | 267 | 555 | 826 | |||||||||
| Distribution services | 2,642 | 5,903 | 9,080 | |||||||||
| Transfer agent services | 863 | 1,811 | 2,663 | |||||||||
| Reports to shareholders | 65 | 137 | 206 | |||||||||
| Registration statement and prospectus | 283 | 460 | 506 | |||||||||
| Trustees’ compensation | 4 | 8 | 12 | |||||||||
| Auditing and legal | 2 | 4 | 7 | |||||||||
| Custodian | 6 | 6 | 6 | |||||||||
| State and local taxes | (1 | ) | — | — | ||||||||
| Other | 89 | 197 | 199 | |||||||||
| Total fees and expenses before reimbursements/ waivers | 4,220 | 9,081 | 13,505 | |||||||||
| Less reimbursements/waivers of fees and expenses: | ||||||||||||
| Investment advisory services | 267 | 555 | 826 | |||||||||
| Other | — | — | — | |||||||||
| Total fees and expenses after reimbursements/waivers | 3,953 | 8,526 | 12,679 | |||||||||
| Net investment income | 12,652 | 19,459 | 51,985 | |||||||||
| Net realized gain (loss) and unrealized (depreciation) appreciation on investments: | ||||||||||||
| Net realized (loss) gain on sale of investments: | ||||||||||||
| Unaffiliated issuers | (596 | ) | (380 | ) | — | |||||||
| Affiliated issuers | — | — | (7 | ) | ||||||||
| Capital gain distributions received | 49,505 | 122,308 | 152,731 | |||||||||
| Net realized gain (loss) on investments | 48,910 | 121,928 | 152,725 | |||||||||
| Net unrealized (depreciation) appreciation on investments | (92,239 | ) | (153,705 | ) | (126,072 | ) | ||||||
| Net realized gain (loss) and unrealized (depreciation) appreciation on investments | (43,329 | ) | (31,777 | ) | 26,653 | |||||||
| Net (decrease) increase in net assets resulting from operations | $ | (30,677 | ) | $ | (12,318 | ) | $ | 78,638 | ||||
| * | 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 | ||||||||||||||
| $ | 37,102 | $ | 54,209 | $ | 9,297 | $ | 4,919 | $ | 1,675 | |||||||||
| 7,540 | 3,483 | 4,602 | 1,781 | 2,832 | ||||||||||||||
| 44,642 | 57,692 | 13,899 | 6,700 | 4,507 | ||||||||||||||
| 683 | 527 | 138 | 151 | 52 | ||||||||||||||
| 8,111 | 5,833 | 1,612 | 1,976 | 642 | ||||||||||||||
| 2,213 | 1,673 | 439 | 517 | 167 | ||||||||||||||
| 173 | 132 | 36 | 41 | 14 | ||||||||||||||
| 529 | 371 | 166 | 240 | 127 | ||||||||||||||
| 10 | 7 | 2 | 2 | 1 | ||||||||||||||
| 6 | 4 | 1 | 1 | — | † | |||||||||||||
| 6 | 6 | 6 | 6 | 6 | ||||||||||||||
| — | — | — | (2 | ) | — | |||||||||||||
| 143 | 62 | 2 | 46 | 1 | ||||||||||||||
| 11,874 | 8,615 | 2,402 | 2,978 | 1,010 | ||||||||||||||
| 683 | 527 | 138 | 151 | 52 | ||||||||||||||
| — | — | — | — | 60 | ||||||||||||||
| 11,191 | 8,088 | 2,264 | 2,827 | 898 | ||||||||||||||
| 33,451 | 49,604 | 11,635 | 3,873 | 3,609 | ||||||||||||||
| — | (20,669 | ) | (93 | ) | 14 | 14 | ||||||||||||
| — | (5,119 | ) | 15 | (6 | ) | (235 | ) | |||||||||||
| 108,998 | 46,917 | 11,697 | 1,557 | — | ||||||||||||||
| 108,998 | 21,129 | 11,619 | 1,565 | (222 | ) | |||||||||||||
| (84,821 | ) | 12,826 | (2,046 | ) | 7,023 | 2,715 | ||||||||||||
| 24,177 | 33,955 | 9,573 | 8,588 | 2,493 | ||||||||||||||
| $ | 57,628 | $ | 83,559 | $ | 21,208 | $ | 12,461 | $ | 6,102 | |||||||||
| American Funds Portfolio Series | 17 |
Statements of changes in net assets
| Global Growth Portfolio | Growth Portfolio | Growth and Income Portfolio | ||||||||||||||||||||||
| Six months | Six months | Six months | ||||||||||||||||||||||
| ended | Year ended | ended | Year ended | ended | Year ended | |||||||||||||||||||
| April 30 | October 31 | April 30 | October 31 | April 30 | October 31 | |||||||||||||||||||
| 2016* | 2015 | 2016* | 2015 | 2016* | 2015 | |||||||||||||||||||
| Operations: | ||||||||||||||||||||||||
| Net investment income | $ | 12,652 | $ | 12,245 | $ | 19,459 | $ | 13,176 | $ | 51,985 | $ | 78,392 | ||||||||||||
| Net realized gain (loss) | 48,910 | 49,384 | 121,928 | 142,693 | 152,725 | 142,377 | ||||||||||||||||||
| Net unrealized (depreciation) appreciation | (92,239 | ) | (60,174 | ) | (153,705 | ) | (86,586 | ) | (126,072 | ) | (202,565 | ) | ||||||||||||
| Net (decrease) increase in net assets resulting from operations | (30,677 | ) | 1,455 | (12,318 | ) | 69,283 | 78,638 | 18,204 | ||||||||||||||||
| Dividends and distributions paid to shareholders: | ||||||||||||||||||||||||
| Dividends from net investment income | (12,487 | ) | (10,086 | ) | (19,413 | ) | (14,893 | ) | (55,260 | ) | (77,710 | ) | ||||||||||||
| Distributions from net realized gain on investments | (47,396 | ) | (18,251 | ) | (132,452 | ) | (51,426 | ) | (131,752 | ) | (51,739 | ) | ||||||||||||
| Total dividends and distributions paid to shareholders | (59,883 | ) | (28,337 | ) | (151,865 | ) | (66,319 | ) | (187,012 | ) | (129,449 | ) | ||||||||||||
| Net capital share transactions | 197,432 | 451,959 | 641,676 | 1,166,265 | 696,762 | 1,384,310 | ||||||||||||||||||
| Total increase in net assets | 106,872 | 425,077 | 477,493 | 1,169,229 | 588,388 | 1,273,065 | ||||||||||||||||||
| Net assets: | ||||||||||||||||||||||||
| Beginning of period | 1,580,282 | 1,155,205 | 3,251,158 | 2,081,929 | 4,932,359 | 3,659,294 | ||||||||||||||||||
| End of period | $ | 1,687,154 | $ | 1,580,282 | $ | 3,728,651 | $ | 3,251,158 | $ | 5,520,747 | $ | 4,932,359 | ||||||||||||
| Undistributed (distributions in excess of) net investment income | $ | 162 | $ | (3 | ) | $ | (1,707 | ) | $ | (1,753 | ) | $ | (3,281 | ) | $ | (6 | ) | |||||||
*Unaudited.
See Notes to Financial Statements
| 18 | American Funds Portfolio Series |
(dollars in thousands)
| Balanced Portfolio | Income Portfolio | Tax-Advantaged Income Portfolio | Preservation Portfolio | Tax-Exempt Preservation Portfolio | ||||||||||||||||||||||||||||||||||
| Six months | Six months | Six months | Six months | Six months | ||||||||||||||||||||||||||||||||||
| ended | Year ended | ended | Year ended | ended | Year ended | ended | Year ended | ended | Year ended | |||||||||||||||||||||||||||||
| April 30 | October 31 | April 30 | October 31 | April 30 | October 31 | April 30 | October 31 | April 30 | October 31 | |||||||||||||||||||||||||||||
| 2016* | 2015 | 2016* | 2015 | 2016* | 2015 | 2016* | 2015 | 2016* | 2015 | |||||||||||||||||||||||||||||
| $ | 33,451 | $ | 45,530 | $ | 49,604 | $ | 91,336 | $ | 11,635 | $ | 17,783 | $ | 3,873 | $ | 7,085 | $ | 3,609 | $ | 5,995 | |||||||||||||||||||
| 108,998 | 94,059 | 21,129 | 16,753 | 11,619 | 6,470 | 1,565 | 150 | (222 | ) | (77 | ) | |||||||||||||||||||||||||||
| (84,821 | ) | (59,544 | ) | 12,826 | (125,346 | ) | (2,046 | ) | (11,403 | ) | 7,023 | (966 | ) | 2,715 | (2,154 | ) | ||||||||||||||||||||||
| 57,628 | 80,045 | 83,559 | (17,257 | ) | 21,208 | 12,850 | 12,461 | 6,269 | 6,102 | 3,764 | ||||||||||||||||||||||||||||
| (36,023 | ) | (41,329 | ) | (59,945 | ) | (85,492 | ) | (11,607 | ) | (17,083 | ) | (4,450 | ) | (7,166 | ) | (3,526 | ) | (5,845 | ) | |||||||||||||||||||
| (86,331 | ) | (18,862 | ) | (14,453 | ) | (8,168 | ) | (5,812 | ) | (1,238 | ) | — | — | — | — | |||||||||||||||||||||||
| (122,354 | ) | (60,191 | ) | (74,398 | ) | (93,660 | ) | (17,419 | ) | (18,321 | ) | (4,450 | ) | (7,166 | ) | (3,526 | ) | (5,845 | ) | |||||||||||||||||||
| 751,434 | 1,224,740 | 280,621 | 826,949 | 148,907 | 304,845 | 173,592 | 236,639 | 60,170 | 88,416 | |||||||||||||||||||||||||||||
| 686,708 | 1,244,594 | 289,782 | 716,032 | 152,696 | 299,374 | 181,603 | 235,742 | 62,746 | 86,335 | |||||||||||||||||||||||||||||
| 3,999,839 | 2,755,245 | 3,154,512 | 2,438,480 | 806,328 | 506,954 | 889,716 | 653,974 | 302,818 | 216,483 | |||||||||||||||||||||||||||||
| $ | 4,686,547 | $ | 3,999,839 | $ | 3,444,294 | $ | 3,154,512 | $ | 959,024 | $ | 806,328 | $ | 1,071,319 | $ | 889,716 | $ | 365,564 | $ | 302,818 | |||||||||||||||||||
| $ | 2,293 | $ | 4,865 | $ | (2,026 | ) | $ | 8,315 | $ | 1,407 | $ | 1,379 | $ | (397 | ) | $ | 180 | $ | 286 | $ | 203 | |||||||||||||||||
| 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 to the underlying funds.
The Global Growth Portfolio, Growth Portfolio, Growth and Income Portfolio, Balanced Portfolio, Income Portfolio and Preservation Portfolio each have 18 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 eight retirement plan share classes (Classes R-1, R-2, R-2E, R-3, R-4, R-5E, 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 described further in the following table:
| 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-2E, R-3, R-4, R-5E, R-5 and R-6 | None | None | None |
*Class B and 529-B shares of each fund are not available for purchase.
On November 20, 2015, the Global Growth Portfolio, Growth Portfolio, Growth and Income Portfolio, Balanced Portfolio, Income Portfolio and Preservation Portfolio made an additional retirement plan share class (Class R-5E) available for sale pursuant to an amendment to its registration statement filed with the U.S. Securities and Exchange Commission. Refer to the series’ prospectus for more details.
| 20 | American Funds Portfolio Series |
Holders of all share classes of each fund have equal pro rata rights to the assets, dividends and liquidation proceeds of each fund held. Each share class of each fund 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 and transfer agent 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 share class of each fund.
2. Significant accounting policies
Each fund in the series is an investment company that applies the accounting and reporting guidance issued in Topic 946 by the U.S. Financial Accounting Standards Board. Each fund’s financial statements have been prepared to comply with U.S. generally accepted accounting principles (“U.S. GAAP”). These principles require the series’ investment adviser to make estimates and assumptions that affect reported amounts and disclosures. Actual results could differ from those estimates. Subsequent events, if any, have been evaluated through the date of issuance in the preparation of the financial statements. The funds follow the significant accounting policies in this section, 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.
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 tables on pages 41 to 61.
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 of each fund based on their relative net assets. Class-specific fees and expenses, such as distribution, transfer agent and administrative services, are charged directly to the respective share class of each fund.
Dividends and distributions to shareholders — Dividends and distributions to shareholders are recorded on each fund’s ex-dividend date.
3. Valuation
Security valuation — The net asset value of each share class of each fund is calculated based on the reported net asset values of the underlying funds in which each fund invests. The net asset 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 series’ 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
| American Funds Portfolio Series | 21 |
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, 2016, all of the investment securities held by 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 fund are subject to risks related to the investment adviser’s allocation choices. The selection of the underlying funds and the allocation of the fund’s assets could cause the fund to lose value or its results to lag relevant benchmarks or other funds with similar objectives.
Fund structure — The fund invests in underlying funds and incurs expenses related to the underlying funds. In addition, investors in the fund will incur fees to pay for certain expenses related to the operations of the fund. An investor holding the underlying funds directly and in the same proportions as the fund would incur lower overall expenses but would not receive the benefit of the portfolio management and other services provided by the fund.
Underlying fund risks — Because the fund’s investments consist of underlying funds, the fund’s 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, as described below.
Market conditions — The prices of, and the income generated by, the common stocks, bonds and other securities held by the underlying funds may decline – sometimes rapidly or unpredictably – due to various factors, including events or conditions affecting the general economy or particular industries; overall market changes; local, regional or global political, social or economic instability; governmental or governmental agency responses to economic conditions; and currency exchange rate, interest rate and commodity price fluctuations.
Issuer risks — The prices of, and the income generated by, securities held by the underlying funds may decline in response to various factors directly related to the issuers of such securities, including reduced demand for an issuer’s goods or services, poor management performance and strategic initiatives such as mergers, acquisitions or dispositions and the market response to any such initiatives.
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 debt instruments — The prices of, and the income generated by, bonds and other debt securities held by an underlying fund may be affected by changing interest rates and by changes in the effective maturities and credit ratings of these securities.
Rising interest rates will generally cause the prices of bonds and other debt securities to fall. Falling interest rates may cause an issuer to redeem, call or refinance a debt security before its stated maturity, which may result in the fund having to reinvest the proceeds in lower yielding securities. Longer maturity debt securities generally have greater sensitivity to changes in interest rates and may be subject to greater price fluctuations than shorter maturity debt securities.
Bonds and other debt securities are also 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 debt 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. The underlying funds’ investment adviser relies on its own credit analysts to research issuers and issues in seeking to mitigate various credit and default risks.
| 22 | American Funds Portfolio Series |
Investing in lower rated debt instruments — 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 junk bonds.
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. Furthermore, smaller companies often have limited product lines, operating histories, markets and/or financial resources, may be dependent on one or a few key persons for management, and can be more susceptible to losses. Moreover, the prices of their 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 or revenues outside the U.S., may lose value because of adverse political, social, economic or market developments (including social instability, regional conflicts, terrorism and war) in the countries or regions in which the issuers operate or generate revenue. 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. Issuers of these securities may be more susceptible to actions of foreign governments, such as the imposition of price controls or punitive taxes, that could adversely impact revenues. 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 accounting practices and different regulatory, legal and reporting standards and practices, and may be more difficult to value, than those in the U.S. In addition, the value of investments outside the U.S. may be reduced by foreign taxes, including foreign withholding taxes on interest and dividends. Further, there may be increased risks of delayed settlement of securities purchased or sold by an underlying fund. The risks of investing outside the U.S. may be heightened in connection with investments in emerging markets.
Investing in emerging markets — Investing in emerging markets may involve risks in addition to and greater than those generally associated with investing in the securities markets of 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. Less certainty with respect to security valuations may lead to additional challenges and risks in calculating the underlying fund’s net asset value. Additionally, there may be increased settlement risks for transactions in local securities.
Investing in securities backed by the U.S. government — 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-related and other asset-backed securities — Mortgage-related securities, such as mortgage-backed securities, and other asset-backed securities, include debt obligations that represent interests in pools of mortgages or other income-bearing assets, such as consumer loans or receivables. Such securities often involve risks that are different from or more acute than the risks associated with investing in other types of debt securities. Mortgage-backed and other asset-backed securities are subject to changes in the payment patterns of borrowers of the underlying debt. When interest rates fall, borrowers are more likely to refinance or prepay their debt before its stated maturity. This may result in the underlying fund having to reinvest the proceeds in lower yielding securities, effectively reducing the fund’s income. Conversely, if interest rates rise and borrowers repay their debt more slowly than expected, the time in which the mortgage-backed and other asset-backed securities are paid off could be extended, reducing the underlying fund’s cash available for reinvestment in higher yielding securities.
Thinly traded securities — There may be little trading in the secondary market for particular bonds, other debt securities or derivatives, 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.
| American Funds Portfolio Series | 23 |
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 derivatives — The use of derivatives involves a variety of risks, which may be different from, or greater than, the risks associated with investing in traditional cash securities, such as stocks and bonds. Changes in the value of a derivative may not correlate perfectly with, and may be more sensitive to market events than, the underlying asset, rate or index, and a derivative instrument may expose the fund to losses in excess of its initial investment. Derivatives may be difficult for the underlying fund to buy or sell at an opportune time or price and may be difficult to terminate or otherwise offset. The underlying fund’s use of derivatives may result in losses to the underlying fund, and investing in derivatives may reduce the underlying fund’s returns and increase the fund’s price volatility. The underlying fund’s counterparty to a derivative transaction (including, if applicable, the fund’s clearing broker, the derivatives exchange or the clearinghouse) may be unable or unwilling to honor its financial obligations in respect of the transaction.
Management — The investment adviser to the series and to the underlying funds actively manages each underlying fund’s 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.
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, 2016, 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; cost of investments sold; 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, 2015, 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 | $ | — | $ | — | $ | — | $ | 4,871 | $ | 8,319 | $ | 546 | $ | 183 | $ | — | |||||||||||
| Late year ordinary loss deferral* | — | (1,749 | ) | — | — | — | — | — | — | ||||||||||||||||||
| Undistributed tax-exempt income | — | — | — | — | — | 833 | — | 203 | |||||||||||||||||||
| Undistributed long-term capital gain | 47,303 | 132,268 | 131,408 | 86,281 | 14,361 | 5,797 | — | — | |||||||||||||||||||
| Capital loss carryforward† | — | — | — | — | — | — | (14 | ) | (1,648 | ) | |||||||||||||||||
| * | These deferrals are considered incurred in the subsequent year. |
| † | The capital loss carryforward will be used to offset any capital gains realized by the fund in future years. The fund will not make distributions from capital gains while a capital loss carryforward remains. |
| 24 | American Funds Portfolio Series |
As of April 30, 2016, the tax basis unrealized appreciation (depreciation) and cost of investment securities for each fund were as follows (dollars in thousands):
| Tax- | |||||||||||||||||||||||||||||||
| Global | Growth and | Advantaged | Tax-Exempt | ||||||||||||||||||||||||||||
| Growth | Growth | Income | Balanced | Income | Income | Preservation | Preservation | ||||||||||||||||||||||||
| Portfolio | Portfolio | Portfolio | Portfolio | Portfolio | Portfolio | Portfolio | Portfolio | ||||||||||||||||||||||||
| Gross unrealized appreciation on investment securities | $ | 3,753 | $ | 41,310 | $ | 52,548 | $ | 134,020 | $ | 115,243 | $ | 28,320 | $ | 2,627 | $ | 1,802 | |||||||||||||||
| Gross unrealized depreciation on investment securities | (50,636 | ) | (69,756 | ) | (13,667 | ) | (18,103 | ) | (71,521 | ) | — | (1,117 | ) | (2,737 | ) | ||||||||||||||||
| Net unrealized appreciation (depreciation) on investment securities | (46,883 | ) | (28,446 | ) | 38,881 | 115,917 | 43,722 | 28,320 | 1,510 | (935 | ) | ||||||||||||||||||||
| Cost of investment securities | 1,734,335 | 3,758,466 | 5,483,926 | 4,572,476 | 3,402,015 | 931,135 | 1,070,246 | 366,592 | |||||||||||||||||||||||
The tax character of distributions paid to shareholders was as follows (dollars in thousands):
Global Growth Portfolio
| Six months ended April 30, 2016 | Year ended October 31, 2015 | |||||||||||||||||||||||
| Total | Total | |||||||||||||||||||||||
| dividends and | dividends and | |||||||||||||||||||||||
| Ordinary | Long-term | distributions | Ordinary | Long-term | distributions | |||||||||||||||||||
| Share class | income | capital gains | paid | income | capital gains | paid | ||||||||||||||||||
| Class A | $ | 9,026 | $ | 29,527 | $ | 38,553 | $ | 7,104 | $ | 11,346 | $ | 18,450 | ||||||||||||
| Class B | — | 43 | 43 | 1 | 34 | 35 | ||||||||||||||||||
| Class C | 503 | 6,068 | 6,571 | 434 | 2,133 | 2,567 | ||||||||||||||||||
| Class F-1 | 300 | 1,177 | 1,477 | 374 | 647 | 1,021 | ||||||||||||||||||
| Class F-2 | 640 | 1,715 | 2,355 | 470 | 645 | 1,115 | ||||||||||||||||||
| Class 529-A | 1,082 | 3,782 | 4,864 | 883 | 1,497 | 2,380 | ||||||||||||||||||
| Class 529-B | — | 11 | 11 | — | 8 | 8 | ||||||||||||||||||
| Class 529-C | 59 | 1,613 | 1,672 | 131 | 669 | 800 | ||||||||||||||||||
| Class 529-E | 31 | 143 | 174 | 29 | 61 | 90 | ||||||||||||||||||
| Class 529-F-1 | 84 | 243 | 327 | 49 | 69 | 118 | ||||||||||||||||||
| Class R-1 | 5 | 73 | 78 | 5 | 25 | 30 | ||||||||||||||||||
| Class R-2 | 100 | 1,043 | 1,143 | 73 | 324 | 397 | ||||||||||||||||||
| Class R-2E | — | 1 | — | 1 | — | 1 | — | 1 | — | 1 | — | 1 | ||||||||||||
| Class R-3 | 102 | 519 | 621 | 85 | 200 | 285 | ||||||||||||||||||
| Class R-4 | 86 | 276 | 362 | 54 | 84 | 138 | ||||||||||||||||||
| Class R-5E2 | — | 1 | — | 1 | — | 1 | ||||||||||||||||||
| Class R-5 | 32 | 82 | 114 | 11 | 19 | 30 | ||||||||||||||||||
| Class R-6 | 437 | 1,081 | 1,518 | 383 | 490 | 873 | ||||||||||||||||||
| Total | $ | 12,487 | $ | 47,396 | $ | 59,883 | $ | 10,086 | $ | 18,251 | $ | 28,337 | ||||||||||||
See page 28 for footnotes.
| American Funds Portfolio Series | 25 |
Growth Portfolio
| Six months ended April 30, 2016 | Year ended October 31, 2015 | |||||||||||||||||||||||
| Total | Total | |||||||||||||||||||||||
| dividends and | dividends and | |||||||||||||||||||||||
| Ordinary | Long-term | distributions | Ordinary | Long-term | distributions | |||||||||||||||||||
| Share class | income | capital gains | paid | income | capital gains | paid | ||||||||||||||||||
| Class A | $ | 14,695 | $ | 82,330 | $ | 97,025 | $ | 11,240 | $ | 33,060 | $ | 44,300 | ||||||||||||
| Class B | — | 141 | 141 | — | 122 | 122 | ||||||||||||||||||
| Class C | 446 | 19,249 | 19,695 | 515 | 6,534 | 7,049 | ||||||||||||||||||
| Class F-1 | 337 | 2,139 | 2,476 | 309 | 981 | 1,290 | ||||||||||||||||||
| Class F-2 | 981 | 4,384 | 5,365 | 557 | 1,394 | 1,951 | ||||||||||||||||||
| Class 529-A | 1,881 | 11,480 | 13,361 | 1,442 | 4,557 | 5,999 | ||||||||||||||||||
| Class 529-B | — | 36 | 36 | — | 27 | 27 | ||||||||||||||||||
| Class 529-C | — | 1 | 4,001 | 4,001 | 48 | 1,635 | 1,683 | |||||||||||||||||
| Class 529-E | 65 | 585 | 650 | 60 | 273 | 333 | ||||||||||||||||||
| Class 529-F-1 | 159 | 815 | 974 | 96 | 252 | 348 | ||||||||||||||||||
| Class R-1 | — | 263 | 263 | 5 | 113 | 118 | ||||||||||||||||||
| Class R-2 | 38 | 2,584 | 2,622 | 56 | 868 | 924 | ||||||||||||||||||
| Class R-2E | 15 | 65 | 80 | — | 1 | — | 1 | — | 1 | |||||||||||||||
| Class R-3 | 137 | 1,429 | 1,566 | 118 | 536 | 654 | ||||||||||||||||||
| Class R-4 | 177 | 966 | 1,143 | 61 | 179 | 240 | ||||||||||||||||||
| Class R-5E2 | — | 1 | — | 1 | — | 1 | ||||||||||||||||||
| Class R-5 | 48 | 205 | 253 | 10 | 33 | 43 | ||||||||||||||||||
| Class R-6 | 434 | 1,780 | 2,214 | 376 | 862 | 1,238 | ||||||||||||||||||
| Total | $ | 19,413 | $ | 132,452 | $ | 151,865 | $ | 14,893 | $ | 51,426 | $ | 66,319 | ||||||||||||
Growth and Income Portfolio
| Six months ended April 30, 2016 | Year ended October 31, 2015 | |||||||||||||||||||||||
| Total | Total | |||||||||||||||||||||||
| dividends and | dividends and | |||||||||||||||||||||||
| Ordinary | Long-term | distributions | Ordinary | Long-term | distributions | |||||||||||||||||||
| Share class | income | capital gains | paid | income | capital gains | paid | ||||||||||||||||||
| Class A | $ | 39,786 | $ | 89,249 | $ | 129,035 | $ | 57,879 | $ | 36,062 | $ | 93,941 | ||||||||||||
| Class B | 35 | 145 | 180 | 104 | 132 | 236 | ||||||||||||||||||
| Class C | 6,151 | 19,979 | 26,130 | 7,275 | 7,097 | 14,372 | ||||||||||||||||||
| Class F-1 | 1,002 | 2,279 | 3,281 | 1,403 | 916 | 2,319 | ||||||||||||||||||
| Class F-2 | 1,717 | 3,442 | 5,159 | 2,111 | 1,102 | 3,213 | ||||||||||||||||||
| Class 529-A | 3,143 | 7,325 | 10,468 | 4,691 | 3,067 | 7,758 | ||||||||||||||||||
| Class 529-B | 5 | 23 | 28 | 14 | 19 | 33 | ||||||||||||||||||
| Class 529-C | 852 | 3,033 | 3,885 | 1,163 | 1,299 | 2,462 | ||||||||||||||||||
| Class 529-E | 151 | 392 | 543 | 201 | 148 | 349 | ||||||||||||||||||
| Class 529-F-1 | 250 | 516 | 766 | 370 | 228 | 598 | ||||||||||||||||||
| Class R-1 | 55 | 188 | 243 | 88 | 94 | 182 | ||||||||||||||||||
| Class R-2 | 550 | 1,748 | 2,298 | 582 | 552 | 1,134 | ||||||||||||||||||
| Class R-2E | 8 | 6 | 14 | — | 1 | — | 1 | — | 1 | |||||||||||||||
| Class R-3 | 443 | 1,109 | 1,552 | 544 | 408 | 952 | ||||||||||||||||||
| Class R-4 | 479 | 1,091 | 1,570 | 417 | 153 | 570 | ||||||||||||||||||
| Class R-5E2 | — | 1 | — | 1 | — | 1 | ||||||||||||||||||
| Class R-5 | 44 | 86 | 130 | 44 | 20 | 64 | ||||||||||||||||||
| Class R-6 | 589 | 1,141 | 1,730 | 824 | 442 | 1,266 | ||||||||||||||||||
| Total | $ | 55,260 | $ | 131,752 | $ | 187,012 | $ | 77,710 | $ | 51,739 | $ | 129,449 | ||||||||||||
| 26 | American Funds Portfolio Series |
Balanced Portfolio
| Six months ended April 30, 2016 | Year ended October 31, 2015 | |||||||||||||||||||||||
| Total | Total | |||||||||||||||||||||||
| dividends and | dividends and | |||||||||||||||||||||||
| Ordinary | Long-term | distributions | Ordinary | Long-term | distributions | |||||||||||||||||||
| Share class | income | capital gains | paid | income | capital gains | paid | ||||||||||||||||||
| Class A | $ | 25,028 | $ | 55,406 | $ | 80,434 | $ | 30,100 | $ | 12,343 | $ | 42,443 | ||||||||||||
| Class B | 20 | 89 | 109 | 35 | 43 | 78 | ||||||||||||||||||
| Class C | 3,943 | 14,303 | 18,246 | 3,451 | 2,895 | 6,346 | ||||||||||||||||||
| Class F-1 | 856 | 1,812 | 2,668 | 975 | 420 | 1,395 | ||||||||||||||||||
| Class F-2 | 1,395 | 2,641 | 4,036 | 1,276 | 453 | 1,729 | ||||||||||||||||||
| Class 529-A | 1,641 | 3,808 | 5,449 | 2,133 | 960 | 3,093 | ||||||||||||||||||
| Class 529-B | 2 | 12 | 14 | 4 | 6 | 10 | ||||||||||||||||||
| Class 529-C | 462 | 1,915 | 2,377 | 468 | 503 | 971 | ||||||||||||||||||
| Class 529-E | 59 | 156 | 215 | 69 | 36 | 105 | ||||||||||||||||||
| Class 529-F-1 | 177 | 363 | 540 | 212 | 80 | 292 | ||||||||||||||||||
| Class R-1 | 49 | 189 | 238 | 53 | 46 | 99 | ||||||||||||||||||
| Class R-2 | 306 | 1,145 | 1,451 | 280 | 247 | 527 | ||||||||||||||||||
| Class R-2E | 2 | — | 1 | 2 | — | 1 | — | 1 | — | 1 | ||||||||||||||
| Class R-3 | 486 | 1,304 | 1,790 | 530 | 258 | 788 | ||||||||||||||||||
| Class R-4 | 601 | 1,329 | 1,930 | 586 | 244 | 830 | ||||||||||||||||||
| Class R-5E2 | — | 1 | — | 1 | — | 1 | ||||||||||||||||||
| Class R-5 | 109 | 208 | 317 | 154 | 57 | 211 | ||||||||||||||||||
| Class R-6 | 887 | 1,651 | 2,538 | 1,003 | 271 | 1,274 | ||||||||||||||||||
| Total | $ | 36,023 | $ | 86,331 | $ | 122,354 | $ | 41,329 | $ | 18,862 | $ | 60,191 | ||||||||||||
Income Portfolio
| Six months ended April 30, 2016 | Year ended October 31, 2015 | |||||||||||||||||||||||
| Total | Total | |||||||||||||||||||||||
| dividends and | dividends and | |||||||||||||||||||||||
| Ordinary | Long-term | distributions | Ordinary | Long-term | distributions | |||||||||||||||||||
| Share class | income | capital gains | paid | income | capital gains | paid | ||||||||||||||||||
| Class A | $ | 44,007 | $ | 10,212 | $ | 54,219 | $ | 64,213 | $ | 5,900 | $ | 70,113 | ||||||||||||
| Class B | 44 | 15 | 59 | 117 | 19 | 136 | ||||||||||||||||||
| Class C | 8,389 | 2,391 | 10,780 | 11,280 | 1,301 | 12,581 | ||||||||||||||||||
| Class F-1 | 1,380 | 322 | 1,702 | 2,157 | 205 | 2,362 | ||||||||||||||||||
| Class F-2 | 2,347 | 566 | 2,913 | 2,379 | 205 | 2,584 | ||||||||||||||||||
| Class 529-A | 1,303 | 314 | 1,617 | 2,040 | 200 | 2,240 | ||||||||||||||||||
| Class 529-B | 5 | 2 | 7 | 12 | 2 | 14 | ||||||||||||||||||
| Class 529-C | 639 | 192 | 831 | 1,000 | 130 | 1,130 | ||||||||||||||||||
| Class 529-E | 100 | 26 | 126 | 165 | 16 | 181 | ||||||||||||||||||
| Class 529-F-1 | 135 | 29 | 164 | 184 | 16 | 200 | ||||||||||||||||||
| Class R-1 | 24 | 7 | 31 | 41 | 5 | 46 | ||||||||||||||||||
| Class R-2 | 357 | 104 | 461 | 457 | 52 | 509 | ||||||||||||||||||
| Class R-2E | — | 1 | — | 1 | — | 1 | — | 1 | — | 1 | — | 1 | ||||||||||||
| Class R-3 | 328 | 81 | 409 | 424 | 40 | 464 | ||||||||||||||||||
| Class R-4 | 455 | 103 | 558 | 463 | 33 | 496 | ||||||||||||||||||
| Class R-5E2 | — | 1 | — | 1 | — | 1 | ||||||||||||||||||
| Class R-5 | 63 | 13 | 76 | 83 | 7 | 90 | ||||||||||||||||||
| Class R-6 | 369 | 76 | 445 | 477 | 37 | 514 | ||||||||||||||||||
| Total | $ | 59,945 | $ | 14,453 | $ | 74,398 | $ | 85,492 | $ | 8,168 | $ | 93,660 | ||||||||||||
See page 28 for footnotes.
| American Funds Portfolio Series | 27 |
Tax-Advantaged Income Portfolio
| Six months ended April 30, 2016 | Year ended October 31, 2015 | |||||||||||||||||||||||
| Total | Total | |||||||||||||||||||||||
| dividends and | dividends and | |||||||||||||||||||||||
| Ordinary | Long-term | distributions | Ordinary | Long-term | distributions | |||||||||||||||||||
| Share class | income3 | capital gains | paid | income3 | capital gains | paid | ||||||||||||||||||
| Class A | $ | 9,483 | $ | 4,658 | $ | 14,141 | $ | 14,176 | $ | 1,011 | $ | 15,187 | ||||||||||||
| Class B | 1 | 1 | 2 | 4 | — | 1 | 4 | |||||||||||||||||
| Class C | 1,156 | 738 | 1,894 | 1,620 | 148 | 1,768 | ||||||||||||||||||
| Class F-1 | 365 | 159 | 524 | 489 | 34 | 523 | ||||||||||||||||||
| Class F-2 | 602 | 256 | 858 | 794 | 45 | 839 | ||||||||||||||||||
| Total | $ | 11,607 | $ | 5,812 | $ | 17,419 | $ | 17,083 | $ | 1,238 | $ | 18,321 | ||||||||||||
Preservation Portfolio
| Six months ended April 30, 2016 | Year ended October 31, 2015 | |||||||||||||||||||||||
| Total | Total | |||||||||||||||||||||||
| Ordinary | Long-term | dividends | Ordinary | Long-term | dividends | |||||||||||||||||||
| Share class | income | capital gains | paid | income | capital gains | paid | ||||||||||||||||||
| Class A | $ | 3,304 | $ | — | $ | 3,304 | $ | 5,411 | $ | — | $ | 5,411 | ||||||||||||
| Class B | 1 | — | 1 | 5 | — | 5 | ||||||||||||||||||
| Class C | 263 | — | 263 | 419 | — | 419 | ||||||||||||||||||
| Class F-1 | 128 | — | 128 | 142 | — | 142 | ||||||||||||||||||
| Class F-2 | 169 | — | 169 | 201 | — | 201 | ||||||||||||||||||
| Class 529-A | 301 | — | 301 | 510 | — | 510 | ||||||||||||||||||
| Class 529-B | — | 1 | — | — | 1 | 1 | — | 1 | ||||||||||||||||
| Class 529-C | 33 | — | 33 | 70 | — | 70 | ||||||||||||||||||
| Class 529-E | 10 | — | 10 | 20 | — | 20 | ||||||||||||||||||
| Class 529-F-1 | 67 | — | 67 | 110 | — | 110 | ||||||||||||||||||
| Class R-1 | 2 | — | 2 | 4 | — | 4 | ||||||||||||||||||
| Class R-2 | 22 | — | 22 | 43 | — | 43 | ||||||||||||||||||
| Class R-2E | 2 | — | 2 | — | 1 | — | — | 1 | ||||||||||||||||
| Class R-3 | 51 | — | 51 | 82 | — | 82 | ||||||||||||||||||
| Class R-4 | 38 | — | 38 | 50 | — | 50 | ||||||||||||||||||
| Class R-5E2 | — | 1 | — | — | 1 | |||||||||||||||||||
| Class R-5 | 6 | — | 6 | 7 | — | 7 | ||||||||||||||||||
| Class R-6 | 53 | — | 53 | 91 | — | 91 | ||||||||||||||||||
| Total | $ | 4,450 | $ | — | $ | 4,450 | $ | 7,166 | $ | — | $ | 7,166 | ||||||||||||
Tax-Exempt Preservation Portfolio
| Six months ended April 30, 2016 | Year ended October 31, 2015 | |||||||||||||||||||||||
| Total | Total | |||||||||||||||||||||||
| Ordinary | Long-term | dividends | Ordinary | Long-term | dividends | |||||||||||||||||||
| Share class | income3 | capital gains | paid | income3 | capital gains | paid | ||||||||||||||||||
| Class A | $ | 2,660 | $ | — | $ | 2,660 | $ | 4,517 | $ | — | $ | 4,517 | ||||||||||||
| Class B | — | 1 | — | — | 1 | — | 1 | |||||||||||||||||
| Class C | 417 | — | 417 | 777 | — | 777 | ||||||||||||||||||
| Class F-1 | 73 | — | 73 | 106 | — | 106 | ||||||||||||||||||
| Class F-2 | 376 | — | 376 | 444 | — | 444 | ||||||||||||||||||
| Total | $ | 3,526 | $ | — | $ | 3,526 | $ | 5,845 | $ | — | $ | 5,845 | ||||||||||||
| 1 | Amount less than one thousand. |
| 2 | Class R-5E shares were offered beginning November 20, 2015. |
| 3 | Ordinary income may include both taxable and tax-exempt income. |
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.
| 28 | American Funds Portfolio Series |
Investment advisory services — At the beginning of the reporting period, the series had an investment advisory and service agreement with CRMC that provided for monthly fees, accrued daily. These fees were based on an annual rate of 0.10% of daily net assets. CRMC waived these fees through December 31, 2015. Effective January 1, 2016, CRMC eliminated the management fee. 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 tables on pages 41 to 61.
Other reimbursements — CRMC reimbursed a portion of the fees and expenses of Tax-Exempt Preservation Portfolio. 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 further described below:
Distribution services — The series has plans of distribution for all share classes, except Class F-2, R-5E, 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 in this section. 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 | ||||||
| Class R-2E | 0.60 | 0.85 | ||||||
| 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, 2016, 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 | — | — | ||||||
| Tax-Advantaged Income Portfolio | — | Not applicable | ||||||
| Preservation Portfolio | — | — | ||||||
| Tax-Exempt Preservation Portfolio | 618 | Not applicable | ||||||
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.
| American Funds Portfolio Series | 29 |
529 plan services — For funds with 529 share classes, each 529 share class is subject to service fees to compensate the Virginia College Savings Plan (“Virginia529”) for its oversight and administration 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 0.05% on such assets in excess of $70 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. Virginia529 is not considered a related party to the series.
Class-specific expenses under the agreements described in this section for the six months ended April 30, 2016, were as follows (dollars in thousands):
Global Growth Portfolio
| Distribution | Transfer agent | 529 plan | |||||||||||
| Share class | services | services | services | ||||||||||
| Class A | $1,000 | $507 | Not applicable | ||||||||||
| Class B | 7 | 1 | Not applicable | ||||||||||
| Class C | 998 | 104 | Not applicable | ||||||||||
| Class F-1 | 47 | 25 | Not applicable | ||||||||||
| Class F-2 | Not applicable | 33 | Not applicable | ||||||||||
| Class 529-A | 111 | 69 | $57 | ||||||||||
| Class 529-B | 2 | — | * | — | * | ||||||||
| Class 529-C | 264 | 28 | 23 | ||||||||||
| Class 529-E | 12 | 1 | 2 | ||||||||||
| Class 529-F-1 | — | 4 | 4 | ||||||||||
| Class R-1 | 13 | 1 | Not applicable | ||||||||||
| Class R-2 | 133 | 69 | Not applicable | ||||||||||
| Class R-2E | — | * | — | * | Not applicable | ||||||||
| Class R-3 | 44 | 15 | Not applicable | ||||||||||
| Class R-4 | 11 | 4 | Not applicable | ||||||||||
| Class R-5E† | Not applicable | — | * | Not applicable | |||||||||
| Class R-5 | Not applicable | 1 | Not applicable | ||||||||||
| Class R-6 | Not applicable | 1 | Not applicable | ||||||||||
| Total class-specific expenses | $2,642 | $863 | $86 | ||||||||||
Growth Portfolio
| Distribution | Transfer agent | 529 plan | |||||||||||
| Share class | services | services | services | ||||||||||
| Class A | $2,167 | $1,063 | Not applicable | ||||||||||
| Class B | 16 | 2 | Not applicable | ||||||||||
| Class C | 2,414 | 245 | Not applicable | ||||||||||
| Class F-1 | 67 | 33 | Not applicable | ||||||||||
| Class F-2 | Not applicable | 62 | Not applicable | ||||||||||
| Class 529-A | 283 | 157 | $129 | ||||||||||
| Class 529-B | 4 | — | * | — | * | ||||||||
| Class 529-C | 498 | 53 | 44 | ||||||||||
| Class 529-E | 36 | 4 | 7 | ||||||||||
| Class 529-F-1 | — | 11 | 10 | ||||||||||
| Class R-1 | 34 | 4 | Not applicable | ||||||||||
| Class R-2 | 255 | 130 | Not applicable | ||||||||||
| Class R-2E | 4 | 1 | Not applicable | ||||||||||
| Class R-3 | 95 | 32 | Not applicable | ||||||||||
| Class R-4 | 30 | 12 | Not applicable | ||||||||||
| Class R-5E† | Not applicable | — | * | Not applicable | |||||||||
| Class R-5 | Not applicable | 1 | Not applicable | ||||||||||
| Class R-6 | Not applicable | 1 | Not applicable | ||||||||||
| Total class-specific expenses | $5,903 | $1,811 | $190 | ||||||||||
Growth and Income Portfolio
| Distribution | Transfer agent | 529 plan | |||||||||||
| Share class | services | services | services | ||||||||||
| Class A | $3,789 | $1,725 | Not applicable | ||||||||||
| Class B | 24 | 3 | Not applicable | ||||||||||
| Class C | 3,800 | 388 | Not applicable | ||||||||||
| Class F-1 | 108 | 52 | Not applicable | ||||||||||
| Class F-2 | Not applicable | 73 | Not applicable | ||||||||||
| Class 529-A | 293 | 150 | $123 | ||||||||||
| Class 529-B | 4 | 1 | — | * | |||||||||
| Class 529-C | 571 | 61 | 51 | ||||||||||
| Class 529-E | 37 | 4 | 6 | ||||||||||
| Class 529-F-1 | — | 10 | 9 | ||||||||||
| Class R-1 | 36 | 4 | Not applicable | ||||||||||
| Class R-2 | 256 | 133 | Not applicable | ||||||||||
| Class R-2E | 3 | 1 | Not applicable | ||||||||||
| Class R-3 | 108 | 36 | Not applicable | ||||||||||
| Class R-4 | 51 | 20 | Not applicable | ||||||||||
| Class R-5E† | Not applicable | — | * | Not applicable | |||||||||
| Class R-5 | Not applicable | 1 | Not applicable | ||||||||||
| Class R-6 | Not applicable | 1 | Not applicable | ||||||||||
| Total class-specific expenses | $9,080 | $2,663 | $189 | ||||||||||
Balanced Portfolio
| Distribution | Transfer agent | 529 plan | |||||||||||
| Share class | services | services | services | ||||||||||
| Class A | $3,292 | $1,365 | Not applicable | ||||||||||
| Class B | 20 | 2 | Not applicable | ||||||||||
| Class C | 3,503 | 354 | Not applicable | ||||||||||
| Class F-1 | 122 | 56 | Not applicable | ||||||||||
| Class F-2 | Not applicable | 70 | Not applicable | ||||||||||
| Class 529-A | 190 | 100 | $82 | ||||||||||
| Class 529-B | 3 | — | * | — | * | ||||||||
| Class 529-C | 458 | 49 | 41 | ||||||||||
| Class 529-E | 19 | 2 | 3 | ||||||||||
| Class 529-F-1 | — | 9 | 8 | ||||||||||
| Class R-1 | 46 | 5 | Not applicable | ||||||||||
| Class R-2 | 215 | 111 | Not applicable | ||||||||||
| Class R-2E | 3 | 1 | Not applicable | ||||||||||
| Class R-3 | 160 | 54 | Not applicable | ||||||||||
| Class R-4 | 80 | 31 | Not applicable | ||||||||||
| Class R-5E† | Not applicable | — | * | Not applicable | |||||||||
| Class R-5 | Not applicable | 3 | Not applicable | ||||||||||
| Class R-6 | Not applicable | 1 | Not applicable | ||||||||||
| Total class-specific expenses | $8,111 | $2,213 | $134 | ||||||||||
| 30 | American Funds Portfolio Series |
Income Portfolio
| Distribution | Transfer agent | 529 plan | |||||||||||
| Share class | services | services | services | ||||||||||
| Class A | $2,596 | $1,159 | Not applicable | ||||||||||
| Class B | 15 | 2 | Not applicable | ||||||||||
| Class C | 2,660 | 273 | Not applicable | ||||||||||
| Class F-1 | 90 | 44 | Not applicable | ||||||||||
| Class F-2 | Not applicable | 55 | Not applicable | ||||||||||
| Class 529-A | 76 | 38 | $31 | ||||||||||
| Class 529-B | 1 | — | * | — | * | ||||||||
| Class 529-C | 212 | 23 | 19 | ||||||||||
| Class 529-E | 14 | 2 | 2 | ||||||||||
| Class 529-F-1 | — | 3 | 3 | ||||||||||
| Class R-1 | 8 | 1 | Not applicable | ||||||||||
| Class R-2 | 85 | 45 | Not applicable | ||||||||||
| Class R-2E | — | — | * | Not applicable | |||||||||
| Class R-3 | 47 | 16 | Not applicable | ||||||||||
| Class R-4 | 29 | 11 | Not applicable | ||||||||||
| Class R-5E† | Not applicable | — | * | Not applicable | |||||||||
| Class R-5 | Not applicable | 1 | Not applicable | ||||||||||
| Class R-6 | Not applicable | — | * | Not applicable | |||||||||
| Total class-specific expenses | $5,833 | $1,673 | $55 | ||||||||||
Tax-Advantaged Income Portfolio
| Distribution | Transfer agent | ||||||||||||
| Share class | services | services | |||||||||||
| Class A | $1,029 | $348 | |||||||||||
| Class B | 1 | — | * | ||||||||||
| Class C | 549 | 55 | |||||||||||
| Class F-1 | 33 | 15 | |||||||||||
| Class F-2 | Not applicable | 21 | |||||||||||
| Total class-specific expenses | $1,612 | $439 | |||||||||||
Preservation Portfolio
| Distribution | Transfer agent | 529 plan | |||||||||||
| Share class | services | services | services | ||||||||||
| Class A | $912 | $320 | Not applicable | ||||||||||
| Class B | 5 | 1 | Not applicable | ||||||||||
| Class C | 725 | 73 | Not applicable | ||||||||||
| Class F-1 | 31 | 14 | Not applicable | ||||||||||
| Class F-2 | Not applicable | 13 | Not applicable | ||||||||||
| Class 529-A | 62 | 32 | $26 | ||||||||||
| Class 529-B | 2 | — | * | — | * | ||||||||
| Class 529-C | 128 | 14 | 12 | ||||||||||
| Class 529-E | 6 | 1 | 1 | ||||||||||
| Class 529-F-1 | — | 5 | 5 | ||||||||||
| Class R-1 | 7 | 1 | Not applicable | ||||||||||
| Class R-2 | 56 | 29 | Not applicable | ||||||||||
| Class R-2E | 1 | — | * | Not applicable | |||||||||
| Class R-3 | 33 | 11 | Not applicable | ||||||||||
| Class R-4 | 8 | 3 | Not applicable | ||||||||||
| Class R-5E† | Not applicable | — | * | Not applicable | |||||||||
| Class R-5 | Not applicable | — | * | Not applicable | |||||||||
| Class R-6 | Not applicable | — | * | Not applicable | |||||||||
| Total class-specific expenses | $1,976 | $517 | $44 | ||||||||||
Tax-Exempt Preservation Portfolio
| Distribution | Transfer agent | ||||||||||||
| Share class | services | services | |||||||||||
| Class A | $360 | $120 | |||||||||||
| Class B | — | * | — | * | |||||||||
| Class C | 274 | 28 | |||||||||||
| Class F-1 | 8 | 3 | |||||||||||
| Class F-2 | Not applicable | 16 | |||||||||||
| Total class-specific expenses | $642 | $167 | |||||||||||
| * | Amount less than one thousand. | |
| † | Class R-5E shares were offered beginning November 20, 2015. |
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, reflects 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 | $ | 3,730 | $ | 85 | $ | 3,815 | ||||||
| Growth Portfolio | 7,822 | 181 | 8,003 | |||||||||
| Growth and Income Portfolio | 11,626 | 254 | 11,880 | |||||||||
| Balanced Portfolio | 9,672 | 203 | 9,875 | |||||||||
| Income Portfolio | 7,397 | 155 | 7,552 | |||||||||
| Tax-Advantaged Income Portfolio | 1,963 | 38 | 2,001 | |||||||||
| Preservation Portfolio | 2,155 | 36 | 2,191 | |||||||||
| Tax-Exempt Preservation Portfolio | 732 | 13 | 745 | |||||||||
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 any of the funds in the series.
| American Funds Portfolio Series | 31 |
7. Investment transactions
The funds made purchases and sales of investment securities during the six months ended April 30, 2016, as follows (dollars in thousands):
| Purchases | Sales | |||||||
| Global Growth Portfolio | $ | 206,175 | $ | 6,748 | ||||
| Growth Portfolio | 633,957 | 2,076 | ||||||
| Growth and Income Portfolio | 716,771 | 1,898 | ||||||
| Balanced Portfolio | 771,990 | — | ||||||
| Income Portfolio | 573,248 | 270,300 | ||||||
| Tax-Advantaged Income Portfolio | 157,164 | 2,330 | ||||||
| Preservation Portfolio | 186,896 | 12,219 | ||||||
| Tax-Exempt Preservation Portfolio | 72,868 | 12,614 | ||||||
| 32 | American Funds Portfolio Series |
8. Capital share transactions
Capital share transactions in the funds were as follows (dollars and shares in thousands):
Global Growth Portfolio
| Sales1 | Reinvestments of dividends and distributions | Repurchases1 | Net increase (decrease) | |||||||||||||||||||||||||||||
| Share class | Amount | Shares | Amount | Shares | Amount | Shares | Amount | Shares | ||||||||||||||||||||||||
| Six months ended April 30, 2016 | ||||||||||||||||||||||||||||||||
| Class A | $ | 159,119 | 11,707 | $ | 38,436 | 2,744 | $ | (90,136 | ) | (6,674 | ) | $ | 107,419 | 7,777 | ||||||||||||||||||
| Class B | 105 | 8 | 43 | 3 | (593 | ) | (45 | ) | (445 | ) | (34 | ) | ||||||||||||||||||||
| Class C | 38,527 | 2,866 | 6,566 | 474 | (16,655 | ) | (1,252 | ) | 28,438 | 2,088 | ||||||||||||||||||||||
| Class F-1 | 11,191 | 829 | 1,476 | 105 | (11,097 | ) | (839 | ) | 1,570 | 95 | ||||||||||||||||||||||
| Class F-2 | 31,719 | 2,339 | 2,334 | 166 | (14,114 | ) | (1,049 | ) | 19,939 | 1,456 | ||||||||||||||||||||||
| Class 529-A | 18,746 | 1,382 | 4,863 | 348 | (5,287 | ) | (392 | ) | 18,322 | 1,338 | ||||||||||||||||||||||
| Class 529-B | 13 | 1 | 11 | 1 | (132 | ) | (11 | ) | (108 | ) | (9 | ) | ||||||||||||||||||||
| Class 529-C | 6,150 | 459 | 1,672 | 121 | (1,975 | ) | (150 | ) | 5,847 | 430 | ||||||||||||||||||||||
| Class 529-E | 931 | 68 | 174 | 12 | (314 | ) | (23 | ) | 791 | 57 | ||||||||||||||||||||||
| Class 529-F-1 | 2,120 | 156 | 327 | 23 | (513 | ) | (39 | ) | 1,934 | 140 | ||||||||||||||||||||||
| Class R-1 | 880 | 67 | 77 | 5 | (274 | ) | (20 | ) | 683 | 52 | ||||||||||||||||||||||
| Class R-2 | 11,707 | 877 | 1,137 | 82 | (3,163 | ) | (236 | ) | 9,681 | 723 | ||||||||||||||||||||||
| Class R-2E | 1 | — | 2 | — | 2 | — | 2 | — | 2 | — | 2 | 1 | — | 2 | ||||||||||||||||||
| Class R-3 | 3,962 | 295 | 621 | 44 | (2,440 | ) | (177 | ) | 2,143 | 162 | ||||||||||||||||||||||
| Class R-4 | 2,590 | 190 | 362 | 26 | (2,155 | ) | (158 | ) | 797 | 58 | ||||||||||||||||||||||
| Class R-5E3 | 10 | 1 | — | — | — | — | 10 | 1 | ||||||||||||||||||||||||
| Class R-5 | 979 | 75 | 114 | 8 | (341 | ) | (25 | ) | 752 | 58 | ||||||||||||||||||||||
| Class R-6 | 1,495 | 109 | 1,518 | 107 | (3,355 | ) | (244 | ) | (342 | ) | (28 | ) | ||||||||||||||||||||
| Total net increase (decrease) | $ | 290,245 | 21,429 | $ | 59,731 | 4,269 | $ | (152,544 | ) | (11,334 | ) | $ | 197,432 | 14,364 | ||||||||||||||||||
| Year ended October 31, 2015 | ||||||||||||||||||||||||||||||||
| Class A | $ | 379,782 | 25,714 | $ | 18,397 | 1,273 | $ | (114,558 | ) | (7,820 | ) | $ | 283,621 | 19,167 | ||||||||||||||||||
| Class B | 453 | 31 | 35 | 3 | (1,178 | ) | (81 | ) | (690 | ) | (47 | ) | ||||||||||||||||||||
| Class C | 91,150 | 6,247 | 2,564 | 179 | (25,798 | ) | (1,785 | ) | 67,916 | 4,641 | ||||||||||||||||||||||
| Class F-1 | 34,846 | 2,359 | 1,017 | 70 | (33,539 | ) | (2,342 | ) | 2,324 | 87 | ||||||||||||||||||||||
| Class F-2 | 34,994 | 2,365 | 1,103 | 76 | (21,860 | ) | (1,479 | ) | 14,237 | 962 | ||||||||||||||||||||||
| Class 529-A | 43,168 | 2,927 | 2,379 | 164 | (11,079 | ) | (754 | ) | 34,468 | 2,337 | ||||||||||||||||||||||
| Class 529-B | 56 | 4 | 8 | 1 | (225 | ) | (16 | ) | (161 | ) | (11 | ) | ||||||||||||||||||||
| Class 529-C | 15,584 | 1,071 | 800 | 56 | (4,146 | ) | (285 | ) | 12,238 | 842 | ||||||||||||||||||||||
| Class 529-E | 2,291 | 157 | 89 | 6 | (1,240 | ) | (88 | ) | 1,140 | 75 | ||||||||||||||||||||||
| Class 529-F-1 | 4,124 | 283 | 119 | 8 | (511 | ) | (34 | ) | 3,732 | 257 | ||||||||||||||||||||||
| Class R-1 | 1,230 | 85 | 29 | 2 | (376 | ) | (26 | ) | 883 | 61 | ||||||||||||||||||||||
| Class R-2 | 17,877 | 1,230 | 396 | 28 | (4,283 | ) | (295 | ) | 13,990 | 963 | ||||||||||||||||||||||
| Class R-2E | 1 | — | 2 | — | — | — | 2 | — | 2 | 1 | — | 2 | ||||||||||||||||||||
| Class R-3 | 7,694 | 526 | 285 | 20 | (2,147 | ) | (148 | ) | 5,832 | 398 | ||||||||||||||||||||||
| Class R-4 | 7,389 | 498 | 139 | 10 | (2,842 | ) | (194 | ) | 4,686 | 314 | ||||||||||||||||||||||
| Class R-5 | 1,939 | 129 | 30 | 2 | (372 | ) | (25 | ) | 1,597 | 106 | ||||||||||||||||||||||
| Class R-6 | 9,814 | 655 | 873 | 60 | (4,542 | ) | (307 | ) | 6,145 | 408 | ||||||||||||||||||||||
| Total net increase (decrease) | $ | 652,392 | 44,281 | $ | 28,263 | 1,958 | $ | (228,696 | ) | (15,679 | ) | $ | 451,959 | 30,560 | ||||||||||||||||||
See page 40 for footnotes.
| American Funds Portfolio Series | 33 |
Growth Portfolio
| Sales1 | Reinvestments of dividends and distributions | Repurchases1 | Net increase (decrease) | |||||||||||||||||||||||||||||
| Share class | Amount | Shares | Amount | Shares | Amount | Shares | Amount | Shares | ||||||||||||||||||||||||
| Six months ended April 30, 2016 | ||||||||||||||||||||||||||||||||
| Class A | $ | 440,794 | 30,818 | $ | 96,700 | 6,574 | $ | (173,936 | ) | (12,168 | ) | $ | 363,558 | 25,224 | ||||||||||||||||||
| Class B | 207 | 14 | 141 | 10 | (1,434 | ) | (103 | ) | (1,086 | ) | (79 | ) | ||||||||||||||||||||
| Class C | 129,717 | 9,144 | 19,633 | 1,349 | (41,419 | ) | (2,946 | ) | 107,931 | 7,547 | ||||||||||||||||||||||
| Class F-1 | 21,219 | 1,475 | 2,471 | 168 | (9,663 | ) | (689 | ) | 14,027 | 954 | ||||||||||||||||||||||
| Class F-2 | 47,690 | 3,302 | 5,338 | 362 | (21,350 | ) | (1,507 | ) | 31,678 | 2,157 | ||||||||||||||||||||||
| Class 529-A | 55,363 | 3,862 | 13,361 | 909 | (10,761 | ) | (758 | ) | 57,963 | 4,013 | ||||||||||||||||||||||
| Class 529-B | 35 | 3 | 35 | 2 | (450 | ) | (33 | ) | (380 | ) | (28 | ) | ||||||||||||||||||||
| Class 529-C | 17,599 | 1,244 | 4,001 | 274 | (5,137 | ) | (367 | ) | 16,463 | 1,151 | ||||||||||||||||||||||
| Class 529-E | 2,418 | 170 | 650 | 45 | (885 | ) | (67 | ) | 2,183 | 148 | ||||||||||||||||||||||
| Class 529-F-1 | 7,275 | 503 | 974 | 66 | (1,023 | ) | (70 | ) | 7,226 | 499 | ||||||||||||||||||||||
| Class R-1 | 2,028 | 142 | 259 | 18 | (1,350 | ) | (92 | ) | 937 | 68 | ||||||||||||||||||||||
| Class R-2 | 26,925 | 1,923 | 2,619 | 180 | (7,065 | ) | (496 | ) | 22,479 | 1,607 | ||||||||||||||||||||||
| Class R-2E | 1,748 | 115 | 79 | 5 | (29 | ) | (2 | ) | 1,798 | 118 | ||||||||||||||||||||||
| Class R-3 | 12,491 | 884 | 1,532 | 105 | (6,116 | ) | (424 | ) | 7,907 | 565 | ||||||||||||||||||||||
| Class R-4 | 9,361 | 655 | 1,143 | 78 | (5,281 | ) | (374 | ) | 5,223 | 359 | ||||||||||||||||||||||
| Class R-5E3 | 10 | 1 | — | — | — | — | 10 | 1 | ||||||||||||||||||||||||
| Class R-5 | 1,809 | 128 | 254 | 17 | (334 | ) | (24 | ) | 1,729 | 121 | ||||||||||||||||||||||
| Class R-6 | 5,172 | 363 | 2,214 | 150 | (5,356 | ) | (382 | ) | 2,030 | 131 | ||||||||||||||||||||||
| Total net increase (decrease) | $ | 781,861 | 54,746 | $ | 151,404 | 10,312 | $ | (291,589 | ) | (20,502 | ) | $ | 641,676 | 44,556 | ||||||||||||||||||
| Year ended October 31, 2015 | ||||||||||||||||||||||||||||||||
| Class A | $ | 859,489 | 55,673 | $ | 44,170 | 2,919 | $ | (209,748 | ) | (13,649 | ) | $ | 693,911 | 44,943 | ||||||||||||||||||
| Class B | 1,207 | 79 | 121 | 8 | (2,951 | ) | (193 | ) | (1,623 | ) | (106 | ) | ||||||||||||||||||||
| Class C | 237,543 | 15,566 | 7,036 | 469 | (45,423 | ) | (2,982 | ) | 199,156 | 13,053 | ||||||||||||||||||||||
| Class F-1 | 37,177 | 2,406 | 1,290 | 85 | (26,496 | ) | (1,725 | ) | 11,971 | 766 | ||||||||||||||||||||||
| Class F-2 | 62,599 | 4,043 | 1,943 | 128 | (17,872 | ) | (1,160 | ) | 46,670 | 3,011 | ||||||||||||||||||||||
| Class 529-A | 105,006 | 6,796 | 5,999 | 396 | (15,096 | ) | (975 | ) | 95,909 | 6,217 | ||||||||||||||||||||||
| Class 529-B | 155 | 10 | 27 | 2 | (467 | ) | (31 | ) | (285 | ) | (19 | ) | ||||||||||||||||||||
| Class 529-C | 37,845 | 2,476 | 1,682 | 112 | (6,615 | ) | (432 | ) | 32,912 | 2,156 | ||||||||||||||||||||||
| Class 529-E | 3,898 | 254 | 332 | 22 | (1,131 | ) | (75 | ) | 3,099 | 201 | ||||||||||||||||||||||
| Class 529-F-1 | 11,131 | 716 | 348 | 23 | (1,333 | ) | (85 | ) | 10,146 | 654 | ||||||||||||||||||||||
| Class R-1 | 4,169 | 272 | 116 | 8 | (2,062 | ) | (137 | ) | 2,223 | 143 | ||||||||||||||||||||||
| Class R-2 | 34,446 | 2,257 | 924 | 62 | (8,019 | ) | (528 | ) | 27,351 | 1,791 | ||||||||||||||||||||||
| Class R-2E | 7 | — | 2 | — | — | — | — | 7 | — | 2 | ||||||||||||||||||||||
| Class R-3 | 18,948 | 1,229 | 654 | 43 | (4,477 | ) | (293 | ) | 15,125 | 979 | ||||||||||||||||||||||
| Class R-4 | 20,645 | 1,357 | 240 | 16 | (4,724 | ) | (310 | ) | 16,161 | 1,063 | ||||||||||||||||||||||
| Class R-5 | 3,607 | 230 | 43 | 3 | (248 | ) | (16 | ) | 3,402 | 217 | ||||||||||||||||||||||
| Class R-6 | 16,856 | 1,073 | 1,238 | 81 | (7,964 | ) | (519 | ) | 10,130 | 635 | ||||||||||||||||||||||
| Total net increase (decrease) | $ | 1,454,728 | 94,437 | $ | 66,163 | 4,377 | $ | (354,626 | ) | (23,110 | ) | $ | 1,166,265 | 75,704 | ||||||||||||||||||
| 34 | American Funds Portfolio Series |
Growth and Income Portfolio
| Sales1 | Reinvestments of dividends and distributions | Repurchases1 | Net increase (decrease) | |||||||||||||||||||||||||||||
| Share class | Amount | Shares | Amount | Shares | Amount | Shares | Amount | Shares | ||||||||||||||||||||||||
| Six months ended April 30, 2016 | ||||||||||||||||||||||||||||||||
| Class A | $ | 548,551 | 43,067 | $ | 128,164 | 9,958 | $ | (249,657 | ) | (19,623 | ) | $ | 427,058 | 33,402 | ||||||||||||||||||
| Class B | 308 | 25 | 180 | 14 | (2,580 | ) | (205 | ) | (2,092 | ) | (166 | ) | ||||||||||||||||||||
| Class C | 170,020 | 13,401 | 25,986 | 2,028 | (67,597 | ) | (5,348 | ) | 128,409 | 10,081 | ||||||||||||||||||||||
| Class F-1 | 25,713 | 2,012 | 3,223 | 250 | (15,101 | ) | (1,193 | ) | 13,835 | 1,069 | ||||||||||||||||||||||
| Class F-2 | 52,585 | 4,130 | 4,961 | 385 | (23,676 | ) | (1,859 | ) | 33,870 | 2,656 | ||||||||||||||||||||||
| Class 529-A | 35,283 | 2,762 | 10,466 | 813 | (13,980 | ) | (1,105 | ) | 31,769 | 2,470 | ||||||||||||||||||||||
| Class 529-B | 43 | 4 | 28 | 2 | (384 | ) | (30 | ) | (313 | ) | (24 | ) | ||||||||||||||||||||
| Class 529-C | 13,146 | 1,034 | 3,885 | 303 | (5,615 | ) | (444 | ) | 11,416 | 893 | ||||||||||||||||||||||
| Class 529-E | 1,757 | 137 | 543 | 42 | (621 | ) | (49 | ) | 1,679 | 130 | ||||||||||||||||||||||
| Class 529-F-1 | 5,699 | 444 | 766 | 60 | (1,781 | ) | (141 | ) | 4,684 | 363 | ||||||||||||||||||||||
| Class R-1 | 1,473 | 116 | 242 | 19 | (1,088 | ) | (86 | ) | 627 | 49 | ||||||||||||||||||||||
| Class R-2 | 23,306 | 1,841 | 2,296 | 179 | (8,362 | ) | (657 | ) | 17,240 | 1,363 | ||||||||||||||||||||||
| Class R-2E | 1,877 | 148 | 14 | 1 | (248 | ) | (19 | ) | 1,643 | 130 | ||||||||||||||||||||||
| Class R-3 | 14,675 | 1,148 | 1,550 | 121 | (5,478 | ) | (425 | ) | 10,747 | 844 | ||||||||||||||||||||||
| Class R-4 | 16,146 | 1,246 | 1,527 | 119 | (7,766 | ) | (613 | ) | 9,907 | 752 | ||||||||||||||||||||||
| Class R-5E3 | 10 | 1 | — | — | — | — | 10 | 1 | ||||||||||||||||||||||||
| Class R-5 | 1,718 | 138 | 130 | 10 | (992 | ) | (80 | ) | 856 | 68 | ||||||||||||||||||||||
| Class R-6 | 8,289 | 676 | 1,729 | 134 | (4,601 | ) | (365 | ) | 5,417 | 445 | ||||||||||||||||||||||
| Total net increase (decrease) | $ | 920,599 | 72,330 | $ | 185,690 | 14,438 | $ | (409,527 | ) | (32,242 | ) | $ | 696,762 | 54,526 | ||||||||||||||||||
| Year ended October 31, 2015 | ||||||||||||||||||||||||||||||||
| Class A | $ | 1,161,900 | 85,594 | $ | 93,342 | 6,904 | $ | (379,576 | ) | (28,062 | ) | $ | 875,666 | 64,436 | ||||||||||||||||||
| Class B | 1,465 | 108 | 235 | 17 | (5,265 | ) | (389 | ) | (3,565 | ) | (264 | ) | ||||||||||||||||||||
| Class C | 332,505 | 24,616 | 14,292 | 1,058 | (85,166 | ) | (6,322 | ) | 261,631 | 19,352 | ||||||||||||||||||||||
| Class F-1 | 43,278 | 3,196 | 2,212 | 164 | (22,419 | ) | (1,658 | ) | 23,071 | 1,702 | ||||||||||||||||||||||
| Class F-2 | 79,853 | 5,869 | 3,158 | 233 | (28,446 | ) | (2,111 | ) | 54,565 | 3,991 | ||||||||||||||||||||||
| Class 529-A | 72,873 | 5,365 | 7,753 | 573 | (19,770 | ) | (1,462 | ) | 60,856 | 4,476 | ||||||||||||||||||||||
| Class 529-B | 278 | 20 | 33 | 2 | (795 | ) | (58 | ) | (484 | ) | (36 | ) | ||||||||||||||||||||
| Class 529-C | 33,473 | 2,476 | 2,459 | 182 | (11,790 | ) | (872 | ) | 24,142 | 1,786 | ||||||||||||||||||||||
| Class 529-E | 4,928 | 362 | 349 | 26 | (1,037 | ) | (77 | ) | 4,240 | 311 | ||||||||||||||||||||||
| Class 529-F-1 | 6,320 | 465 | 597 | 44 | (3,965 | ) | (293 | ) | 2,952 | 216 | ||||||||||||||||||||||
| Class R-1 | 3,979 | 293 | 182 | 13 | (3,277 | ) | (249 | ) | 884 | 57 | ||||||||||||||||||||||
| Class R-2 | 36,051 | 2,674 | 1,134 | 84 | (11,191 | ) | (837 | ) | 25,994 | 1,921 | ||||||||||||||||||||||
| Class R-2E | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
| Class R-3 | 18,976 | 1,404 | 952 | 71 | (5,742 | ) | (427 | ) | 14,186 | 1,048 | ||||||||||||||||||||||
| Class R-4 | 30,242 | 2,240 | 570 | 42 | (5,504 | ) | (411 | ) | 25,308 | 1,871 | ||||||||||||||||||||||
| Class R-5 | 1,980 | 147 | 64 | 5 | (192 | ) | (14 | ) | 1,852 | 138 | ||||||||||||||||||||||
| Class R-6 | 19,808 | 1,456 | 1,266 | 94 | (8,062 | ) | (594 | ) | 13,012 | 956 | ||||||||||||||||||||||
| Total net increase (decrease) | $ | 1,847,909 | 136,285 | $ | 128,598 | 9,512 | $ | (592,197 | ) | (43,836 | ) | $ | 1,384,310 | 101,961 | ||||||||||||||||||
See page 40 for footnotes.
| American Funds Portfolio Series | 35 |
Balanced Portfolio
| Sales1 | Reinvestments of dividends and distributions | Repurchases1 | Net increase (decrease) | |||||||||||||||||||||||||||||
| Share class | Amount | Shares | Amount | Shares | Amount | Shares | Amount | Shares | ||||||||||||||||||||||||
| Six months ended April 30, 2016 | ||||||||||||||||||||||||||||||||
| Class A | $ | 532,292 | 41,339 | $ | 79,947 | 6,160 | $ | (190,722 | ) | (14,911 | ) | $ | 421,517 | 32,588 | ||||||||||||||||||
| Class B | 433 | 34 | 109 | 8 | (2,058 | ) | (161 | ) | (1,516 | ) | (119 | ) | ||||||||||||||||||||
| Class C | 182,360 | 14,259 | 18,146 | 1,404 | (61,586 | ) | (4,828 | ) | 138,920 | 10,835 | ||||||||||||||||||||||
| Class F-1 | 48,744 | 3,851 | 2,664 | 205 | (16,249 | ) | (1,261 | ) | 35,159 | 2,795 | ||||||||||||||||||||||
| Class F-2 | 77,206 | 5,964 | 3,911 | 301 | (17,590 | ) | (1,376 | ) | 63,527 | 4,889 | ||||||||||||||||||||||
| Class 529-A | 25,953 | 2,014 | 5,449 | 420 | (12,265 | ) | (958 | ) | 19,137 | 1,476 | ||||||||||||||||||||||
| Class 529-B | 74 | 6 | 14 | 1 | (241 | ) | (19 | ) | (153 | ) | (12 | ) | ||||||||||||||||||||
| Class 529-C | 14,261 | 1,110 | 2,373 | 183 | (9,471 | ) | (735 | ) | 7,163 | 558 | ||||||||||||||||||||||
| Class 529-E | 1,854 | 144 | 216 | 17 | (588 | ) | (45 | ) | 1,482 | 116 | ||||||||||||||||||||||
| Class 529-F-1 | 3,263 | 253 | 540 | 42 | (1,178 | ) | (91 | ) | 2,625 | 204 | ||||||||||||||||||||||
| Class R-1 | 3,277 | 254 | 237 | 18 | (2,409 | ) | (186 | ) | 1,105 | 86 | ||||||||||||||||||||||
| Class R-2 | 17,778 | 1,392 | 1,446 | 112 | (6,272 | ) | (486 | ) | 12,952 | 1,018 | ||||||||||||||||||||||
| Class R-2E | 1,629 | 128 | 2 | — | 2 | (165 | ) | (13 | ) | 1,466 | 115 | |||||||||||||||||||||
| Class R-3 | 15,511 | 1,218 | 1,789 | 138 | (8,805 | ) | (690 | ) | 8,495 | 666 | ||||||||||||||||||||||
| Class R-4 | 24,049 | 1,837 | 1,930 | 149 | (10,065 | ) | (786 | ) | 15,914 | 1,200 | ||||||||||||||||||||||
| Class R-5E3 | 10 | 1 | — | — | — | — | 10 | 1 | ||||||||||||||||||||||||
| Class R-5 | 2,904 | 231 | 316 | 25 | (2,246 | ) | (176 | ) | 974 | 80 | ||||||||||||||||||||||
| Class R-6 | 34,281 | 2,638 | 2,538 | 195 | (14,162 | ) | (1,090 | ) | 22,657 | 1,743 | ||||||||||||||||||||||
| Total net increase (decrease) | $ | 985,879 | 76,673 | $ | 121,627 | 9,378 | $ | (356,072 | ) | (27,812 | ) | $ | 751,434 | 58,239 | ||||||||||||||||||
| Year ended October 31, 2015 | ||||||||||||||||||||||||||||||||
| Class A | $ | 993,186 | 74,182 | $ | 42,191 | 3,167 | $ | (265,868 | ) | (19,887 | ) | $ | 769,509 | 57,462 | ||||||||||||||||||
| Class B | 1,287 | 97 | 78 | 6 | (3,887 | ) | (292 | ) | (2,522 | ) | (189 | ) | ||||||||||||||||||||
| Class C | 320,596 | 24,034 | 6,320 | 475 | (86,785 | ) | (6,523 | ) | 240,131 | 17,986 | ||||||||||||||||||||||
| Class F-1 | 40,031 | 2,988 | 1,392 | 104 | (18,182 | ) | (1,370 | ) | 23,241 | 1,722 | ||||||||||||||||||||||
| Class F-2 | 61,782 | 4,608 | 1,716 | 129 | (24,150 | ) | (1,796 | ) | 39,348 | 2,941 | ||||||||||||||||||||||
| Class 529-A | 53,121 | 3,958 | 3,091 | 232 | (19,522 | ) | (1,457 | ) | 36,690 | 2,733 | ||||||||||||||||||||||
| Class 529-B | 275 | 20 | 10 | 1 | (554 | ) | (41 | ) | (269 | ) | (20 | ) | ||||||||||||||||||||
| Class 529-C | 29,495 | 2,214 | 970 | 73 | (13,972 | ) | (1,045 | ) | 16,493 | 1,242 | ||||||||||||||||||||||
| Class 529-E | 3,062 | 228 | 105 | 8 | (1,123 | ) | (84 | ) | 2,044 | 152 | ||||||||||||||||||||||
| Class 529-F-1 | 7,282 | 542 | 293 | 22 | (2,783 | ) | (205 | ) | 4,792 | 359 | ||||||||||||||||||||||
| Class R-1 | 5,695 | 426 | 99 | 8 | (3,745 | ) | (281 | ) | 2,049 | 153 | ||||||||||||||||||||||
| Class R-2 | 28,593 | 2,145 | 524 | 39 | (10,781 | ) | (812 | ) | 18,336 | 1,372 | ||||||||||||||||||||||
| Class R-2E | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
| Class R-3 | 37,736 | 2,825 | 789 | 59 | (11,319 | ) | (848 | ) | 27,206 | 2,036 | ||||||||||||||||||||||
| Class R-4 | 23,800 | 1,772 | 829 | 62 | (12,176 | ) | (912 | ) | 12,453 | 922 | ||||||||||||||||||||||
| Class R-5 | 3,790 | 283 | 211 | 16 | (2,071 | ) | (157 | ) | 1,930 | 142 | ||||||||||||||||||||||
| Class R-6 | 50,760 | 3,800 | 1,274 | 95 | (18,725 | ) | (1,404 | ) | 33,309 | 2,491 | ||||||||||||||||||||||
| Total net increase (decrease) | $ | 1,660,491 | 124,122 | $ | 59,892 | 4,496 | $ | (495,643 | ) | (37,114 | ) | $ | 1,224,740 | 91,504 | ||||||||||||||||||
| 36 | American Funds Portfolio Series |
Income Portfolio
| Sales1 | Reinvestments of dividends and distributions | Repurchases1 | Net increase (decrease) | |||||||||||||||||||||||||||||
| Share class | Amount | Shares | Amount | Shares | Amount | Shares | Amount | Shares | ||||||||||||||||||||||||
| Six months ended April 30, 2016 | ||||||||||||||||||||||||||||||||
| Class A | $ | 334,076 | 29,806 | $ | 53,237 | 4,743 | $ | (221,810 | ) | (19,869 | ) | $ | 165,503 | 14,680 | ||||||||||||||||||
| Class B | 274 | 25 | 59 | 5 | (1,489 | ) | (133 | ) | (1,156 | ) | (103 | ) | ||||||||||||||||||||
| Class C | 102,421 | 9,183 | 10,644 | 953 | (61,104 | ) | (5,493 | ) | 51,961 | 4,643 | ||||||||||||||||||||||
| Class F-1 | 17,216 | 1,536 | 1,675 | 149 | (11,919 | ) | (1,070 | ) | 6,972 | 615 | ||||||||||||||||||||||
| Class F-2 | 93,854 | 8,331 | 2,040 | 181 | (60,216 | ) | (5,520 | ) | 35,678 | 2,992 | ||||||||||||||||||||||
| Class 529-A | 10,240 | 910 | 1,616 | 144 | (8,738 | ) | (785 | ) | 3,118 | 269 | ||||||||||||||||||||||
| Class 529-B | 52 | 4 | 6 | 1 | (214 | ) | (19 | ) | (156 | ) | (14 | ) | ||||||||||||||||||||
| Class 529-C | 6,118 | 547 | 831 | 74 | (6,352 | ) | (569 | ) | 597 | 52 | ||||||||||||||||||||||
| Class 529-E | 394 | 35 | 125 | 11 | (882 | ) | (79 | ) | (363 | ) | (33 | ) | ||||||||||||||||||||
| Class 529-F-1 | 2,168 | 193 | 165 | 15 | (694 | ) | (62 | ) | 1,639 | 146 | ||||||||||||||||||||||
| Class R-1 | 356 | 32 | 30 | 2 | (136 | ) | (12 | ) | 250 | 22 | ||||||||||||||||||||||
| Class R-2 | 5,675 | 507 | 458 | 41 | (3,950 | ) | (355 | ) | 2,183 | 193 | ||||||||||||||||||||||
| Class R-2E | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
| Class R-3 | 5,065 | 455 | 409 | 37 | (3,276 | ) | (292 | ) | 2,198 | 200 | ||||||||||||||||||||||
| Class R-4 | 11,383 | 1,002 | 558 | 50 | (4,269 | ) | (374 | ) | 7,672 | 678 | ||||||||||||||||||||||
| Class R-5E3 | 10 | 1 | — | — | — | — | 10 | 1 | ||||||||||||||||||||||||
| Class R-5 | 1,116 | 100 | 76 | 7 | (277 | ) | (25 | ) | 915 | 82 | ||||||||||||||||||||||
| Class R-6 | 5,532 | 495 | 445 | 40 | (2,377 | ) | (211 | ) | 3,600 | 324 | ||||||||||||||||||||||
| Total net increase (decrease) | $ | 595,950 | 53,162 | $ | 72,374 | 6,453 | $ | (387,703 | ) | (34,868 | ) | $ | 280,621 | 24,747 | ||||||||||||||||||
| Year ended October 31, 2015 | ||||||||||||||||||||||||||||||||
| Class A | $ | 811,243 | 68,593 | $ | 68,847 | 5,877 | $ | (302,274 | ) | (25,738 | ) | $ | 577,816 | 48,732 | ||||||||||||||||||
| Class B | 1,322 | 111 | 136 | 12 | (3,808 | ) | (323 | ) | (2,350 | ) | (200 | ) | ||||||||||||||||||||
| Class C | 241,244 | 20,489 | 12,408 | 1,063 | (87,525 | ) | (7,490 | ) | 166,127 | 14,062 | ||||||||||||||||||||||
| Class F-1 | 32,198 | 2,738 | 2,319 | 198 | (21,841 | ) | (1,873 | ) | 12,676 | 1,063 | ||||||||||||||||||||||
| Class F-2 | 41,280 | 3,490 | 2,560 | 218 | (23,418 | ) | (1,995 | ) | 20,422 | 1,713 | ||||||||||||||||||||||
| Class 529-A | 23,319 | 1,974 | 2,239 | 191 | (14,235 | ) | (1,208 | ) | 11,323 | 957 | ||||||||||||||||||||||
| Class 529-B | 104 | 9 | 14 | 1 | (372 | ) | (32 | ) | (254 | ) | (22 | ) | ||||||||||||||||||||
| Class 529-C | 15,014 | 1,273 | 1,130 | 97 | (10,186 | ) | (868 | ) | 5,958 | 502 | ||||||||||||||||||||||
| Class 529-E | 2,442 | 205 | 181 | 16 | (931 | ) | (79 | ) | 1,692 | 142 | ||||||||||||||||||||||
| Class 529-F-1 | 3,260 | 274 | 200 | 17 | (1,633 | ) | (138 | ) | 1,827 | 153 | ||||||||||||||||||||||
| Class R-1 | 615 | 52 | 46 | 4 | (674 | ) | (57 | ) | (13 | ) | (1 | ) | ||||||||||||||||||||
| Class R-2 | 10,569 | 897 | 505 | 43 | (3,124 | ) | (269 | ) | 7,950 | 671 | ||||||||||||||||||||||
| Class R-2E | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
| Class R-3 | 9,191 | 780 | 463 | 39 | (2,375 | ) | (203 | ) | 7,279 | 616 | ||||||||||||||||||||||
| Class R-4 | 14,157 | 1,195 | 496 | 42 | (4,537 | ) | (383 | ) | 10,116 | 854 | ||||||||||||||||||||||
| Class R-5 | 1,447 | 122 | 89 | 8 | (689 | ) | (59 | ) | 847 | 71 | ||||||||||||||||||||||
| Class R-6 | 9,121 | 776 | 515 | 44 | (4,103 | ) | (348 | ) | 5,533 | 472 | ||||||||||||||||||||||
| Total net increase (decrease) | $ | 1,216,526 | 102,978 | $ | 92,148 | 7,870 | $ | (481,725 | ) | (41,063 | ) | $ | 826,949 | 69,785 | ||||||||||||||||||
See page 40 for footnotes.
| American Funds Portfolio Series | 37 |
Tax-Advantaged Income Portfolio
| Sales1 | Reinvestments of dividends and distributions | Repurchases1 | Net increase (decrease) | |||||||||||||||||||||||||||||
| Share class | Amount | Shares | Amount | Shares | Amount | Shares | Amount | Shares | ||||||||||||||||||||||||
| Six months ended April 30, 2016 | ||||||||||||||||||||||||||||||||
| Class A | $ | 142,545 | 11,676 | $ | 13,994 | 1,142 | $ | (52,169 | ) | (4,288 | ) | $ | 104,370 | 8,530 | ||||||||||||||||||
| Class B | 27 | 2 | 2 | — | 2 | (102 | ) | (8 | ) | (73 | ) | (6 | ) | |||||||||||||||||||
| Class C | 31,549 | 2,598 | 1,880 | 154 | (9,552 | ) | (790 | ) | 23,877 | 1,962 | ||||||||||||||||||||||
| Class F-1 | 10,719 | 890 | 521 | 43 | (2,140 | ) | (176 | ) | 9,100 | 757 | ||||||||||||||||||||||
| Class F-2 | 15,691 | 1,290 | 846 | 69 | (4,904 | ) | (404 | ) | 11,633 | 955 | ||||||||||||||||||||||
| Total net increase (decrease) | $ | 200,531 | 16,456 | $ | 17,243 | 1,408 | $ | (68,867 | ) | (5,666 | ) | $ | 148,907 | 12,198 | ||||||||||||||||||
| Year ended October 31, 2015 | ||||||||||||||||||||||||||||||||
| Class A | $ | 293,454 | 23,513 | $ | 15,025 | 1,217 | $ | (68,055 | ) | (5,486 | ) | $ | 240,424 | 19,244 | ||||||||||||||||||
| Class B | 94 | 8 | 5 | — | 2 | (205 | ) | (17 | ) | (106 | ) | (9 | ) | |||||||||||||||||||
| Class C | 54,518 | 4,389 | 1,749 | 142 | (15,347 | ) | (1,237 | ) | 40,920 | 3,294 | ||||||||||||||||||||||
| Class F-1 | 9,213 | 740 | 522 | 42 | (2,800 | ) | (225 | ) | 6,935 | 557 | ||||||||||||||||||||||
| Class F-2 | 22,531 | 1,802 | 828 | 67 | (6,687 | ) | (541 | ) | 16,672 | 1,328 | ||||||||||||||||||||||
| Total net increase (decrease) | $ | 379,810 | 30,452 | $ | 18,129 | 1,468 | $ | (93,094 | ) | (7,506 | ) | $ | 304,845 | 24,414 | ||||||||||||||||||
| 38 | American Funds Portfolio Series |
Preservation Portfolio
| Sales1 | Reinvestments of dividends | Repurchases1 | Net increase (decrease) | |||||||||||||||||||||||||||||
| Share class | Amount | Shares | Amount | Shares | Amount | Shares | Amount | Shares | ||||||||||||||||||||||||
| Six months ended April 30, 2016 | ||||||||||||||||||||||||||||||||
| Class A | $ | 205,441 | 20,695 | $ | 3,271 | 330 | $ | (104,318 | ) | (10,503 | ) | $ | 104,394 | 10,522 | ||||||||||||||||||
| Class B | 263 | 27 | 2 | — | 2 | (554 | ) | (56 | ) | (289 | ) | (29 | ) | |||||||||||||||||||
| Class C | 57,211 | 5,771 | 260 | 26 | (27,262 | ) | (2,750 | ) | 30,209 | 3,047 | ||||||||||||||||||||||
| Class F-1 | 14,119 | 1,423 | 125 | 13 | (11,985 | ) | (1,203 | ) | 2,259 | 233 | ||||||||||||||||||||||
| Class F-2 | 17,906 | 1,802 | 168 | 17 | (6,507 | ) | (655 | ) | 11,567 | 1,164 | ||||||||||||||||||||||
| Class 529-A | 18,045 | 1,816 | 301 | 31 | (7,552 | ) | (762 | ) | 10,794 | 1,085 | ||||||||||||||||||||||
| Class 529-B | 52 | 5 | — | 2 | — | 2 | (188 | ) | (18 | ) | (136 | ) | (13 | ) | ||||||||||||||||||
| Class 529-C | 9,559 | 963 | 33 | 4 | (4,915 | ) | (496 | ) | 4,677 | 471 | ||||||||||||||||||||||
| Class 529-E | 743 | 74 | 10 | 1 | (557 | ) | (56 | ) | 196 | 19 | ||||||||||||||||||||||
| Class 529-F-1 | 3,007 | 303 | 67 | 6 | (1,328 | ) | (134 | ) | 1,746 | 175 | ||||||||||||||||||||||
| Class R-1 | 684 | 69 | 2 | — | 2 | (24 | ) | (2 | ) | 662 | 67 | |||||||||||||||||||||
| Class R-2 | 4,945 | 500 | 22 | 2 | (2,857 | ) | (288 | ) | 2,110 | 214 | ||||||||||||||||||||||
| Class R-2E | 427 | 43 | 2 | — | 2 | — | — | 429 | 43 | |||||||||||||||||||||||
| Class R-3 | 3,754 | 378 | 50 | 5 | (1,912 | ) | (193 | ) | 1,892 | 190 | ||||||||||||||||||||||
| Class R-4 | 2,809 | 283 | 38 | 4 | (1,297 | ) | (132 | ) | 1,550 | 155 | ||||||||||||||||||||||
| Class R-5E3 | 10 | 1 | — | — | — | — | 10 | 1 | ||||||||||||||||||||||||
| Class R-5 | 382 | 38 | 6 | 1 | (111 | ) | (11 | ) | 277 | 28 | ||||||||||||||||||||||
| Class R-6 | 2,709 | 273 | 53 | 5 | (1,517 | ) | (153 | ) | 1,245 | 125 | ||||||||||||||||||||||
| Total net increase (decrease) | $ | 342,066 | 34,464 | $ | 4,410 | 445 | $ | (172,884 | ) | (17,412 | ) | $ | 173,592 | 17,497 | ||||||||||||||||||
| Year ended October 31, 2015 | ||||||||||||||||||||||||||||||||
| Class A | $ | 318,904 | 32,012 | $ | 5,359 | 538 | $ | (178,287 | ) | (17,897 | ) | $ | 145,976 | 14,653 | ||||||||||||||||||
| Class B | 878 | 88 | 5 | 1 | (1,352 | ) | (136 | ) | (469 | ) | (47 | ) | ||||||||||||||||||||
| Class C | 73,837 | 7,422 | 415 | 42 | (37,487 | ) | (3,768 | ) | 36,765 | 3,696 | ||||||||||||||||||||||
| Class F-1 | 14,656 | 1,471 | 138 | 14 | (3,099 | ) | (311 | ) | 11,695 | 1,174 | ||||||||||||||||||||||
| Class F-2 | 15,508 | 1,556 | 199 | 20 | (6,873 | ) | (689 | ) | 8,834 | 887 | ||||||||||||||||||||||
| Class 529-A | 26,598 | 2,669 | 509 | 51 | (14,828 | ) | (1,489 | ) | 12,279 | 1,231 | ||||||||||||||||||||||
| Class 529-B | 283 | 28 | 1 | — | 2 | (265 | ) | (27 | ) | 19 | 1 | |||||||||||||||||||||
| Class 529-C | 10,022 | 1,007 | 70 | 7 | (7,806 | ) | (785 | ) | 2,286 | 229 | ||||||||||||||||||||||
| Class 529-E | 1,120 | 113 | 20 | 2 | (926 | ) | (93 | ) | 214 | 22 | ||||||||||||||||||||||
| Class 529-F-1 | 4,805 | 483 | 110 | 11 | (2,665 | ) | (268 | ) | 2,250 | 226 | ||||||||||||||||||||||
| Class R-1 | 718 | 72 | 4 | — | 2 | (306 | ) | (30 | ) | 416 | 42 | |||||||||||||||||||||
| Class R-2 | 10,448 | 1,051 | 43 | 4 | (4,094 | ) | (412 | ) | 6,397 | 643 | ||||||||||||||||||||||
| Class R-2E | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
| Class R-3 | 9,569 | 962 | 82 | 8 | (4,489 | ) | (451 | ) | 5,162 | 519 | ||||||||||||||||||||||
| Class R-4 | 4,929 | 495 | 50 | 5 | (1,593 | ) | (160 | ) | 3,386 | 340 | ||||||||||||||||||||||
| Class R-5 | 631 | 63 | 7 | 1 | (457 | ) | (46 | ) | 181 | 18 | ||||||||||||||||||||||
| Class R-6 | 3,728 | 374 | 91 | 9 | (2,571 | ) | (258 | ) | 1,248 | 125 | ||||||||||||||||||||||
| Total net increase (decrease) | $ | 496,634 | 49,866 | $ | 7,103 | 713 | $ | (267,098 | ) | (26,820 | ) | $ | 236,639 | 23,759 | ||||||||||||||||||
See page 40 for footnotes.
| American Funds Portfolio Series | 39 |
Tax-Exempt Preservation Portfolio
| Sales1 | Reinvestments of dividends | Repurchases1 | Net increase (decrease) | |||||||||||||||||||||||||||||
| Share class | Amount | Shares | Amount | Shares | Amount | Shares | Amount | Shares | ||||||||||||||||||||||||
| Six months ended April 30, 2016 | ||||||||||||||||||||||||||||||||
| Class A | $ | 81,327 | 8,177 | $ | 2,605 | 262 | $ | (41,365 | ) | (4,162 | ) | $ | 42,567 | 4,277 | ||||||||||||||||||
| Class B | 13 | 1 | 1 | — | 2 | (14 | ) | (2 | ) | — | 2 | (1 | ) | |||||||||||||||||||
| Class C | 14,303 | 1,439 | 407 | 41 | (7,367 | ) | (741 | ) | 7,343 | 739 | ||||||||||||||||||||||
| Class F-1 | 3,368 | 338 | 70 | 7 | (588 | ) | (59 | ) | 2,850 | 286 | ||||||||||||||||||||||
| Class F-2 | 19,781 | 1,991 | 367 | 37 | (12,738 | ) | (1,281 | ) | 7,410 | 747 | ||||||||||||||||||||||
| Total net increase (decrease) | $ | 118,792 | 11,946 | $ | 3,450 | 347 | $ | (62,072 | ) | (6,245 | ) | $ | 60,170 | 6,048 | ||||||||||||||||||
| Year ended October 31, 2015 | ||||||||||||||||||||||||||||||||
| Class A | $ | 125,006 | 12,577 | $ | 4,432 | 447 | $ | (63,866 | ) | (6,428 | ) | $ | 65,572 | 6,596 | ||||||||||||||||||
| Class B | 55 | 6 | 1 | — | 2 | (59 | ) | (6 | ) | (3 | ) | — | 2 | |||||||||||||||||||
| Class C | 22,636 | 2,282 | 757 | 76 | (13,747 | ) | (1,385 | ) | 9,646 | 973 | ||||||||||||||||||||||
| Class F-1 | 1,895 | 191 | 106 | 11 | (1,567 | ) | (158 | ) | 434 | 44 | ||||||||||||||||||||||
| Class F-2 | 17,075 | 1,721 | 440 | 44 | (4,748 | ) | (478 | ) | 12,767 | 1,287 | ||||||||||||||||||||||
| Total net increase (decrease) | $ | 166,667 | 16,777 | $ | 5,736 | 578 | $ | (83,987 | ) | (8,455 | ) | $ | 88,416 | 8,900 | ||||||||||||||||||
| 1 | Includes exchanges between share classes of the fund. |
| 2 | Amount less than one thousand. |
| 3 | Class R-5E shares were offered beginning November 20, 2015. |
| 40 | American Funds Portfolio Series |
Global Growth Portfolio
| (Loss) income from investment operations1 | Dividends and distributions | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Period ended | Net asset value, beginning of period | Net investment income (loss) | Net (losses) gains on securities (both realized and unrealized) | Total from investment operations | Dividends (from net investment income) | Distri- butions (from capital gains) | Total dividends and distributions | Net asset value, end of period | Total return2,3 | Net assets, end of period (in millions) | Ratio of expenses to average net assets before reimburse- ments/ waivers4 | Ratio of expenses to average net assets after reimburse- ments/ waivers3,4 | Net effective expense ratio3,5 | Ratio of net income (loss) to average net assets3 | ||||||||||||||||||||||||||||||||||||||||||
| Class A: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | $ | 14.58 | $ | .12 | $ | (.40 | ) | $ | (.28 | ) | $ | (.13 | ) | $ | (.42 | ) | $ | (.55 | ) | $ | 13.75 | (1.99 | )%8 | $ | 1,040 | .39 | %9 | .35 | %9 | .84 | %9 | 1.76 | %9 | |||||||||||||||||||||||
| 10/31/15 | 14.82 | .15 | (.03 | ) | .12 | (.14 | ) | (.22 | ) | (.36 | ) | 14.58 | .85 | 990 | .45 | .35 | .84 | 1.02 | ||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 13.92 | .14 | .92 | 1.06 | (.15 | ) | (.01 | ) | (.16 | ) | 14.82 | 7.71 | 722 | .44 | .34 | .83 | .96 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 11.17 | .11 | 2.79 | 2.90 | (.14 | ) | (.01 | ) | (.15 | ) | 13.92 | 26.18 | 377 | .50 | .40 | .90 | .85 | |||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .03 | 1.14 | 1.17 | — | — | — | 11.17 | 11.70 | 8 | 53 | .25 | 8 | .20 | 8 | .71 | 8 | .29 | 8 | |||||||||||||||||||||||||||||||||||||
| Class B: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 14.44 | .07 | (.41 | ) | (.34 | ) | — | (.42 | ) | (.42 | ) | 13.68 | (2.41 | )8 | 1 | 1.20 | 9 | 1.16 | 9 | 1.65 | 9 | 1.03 | 9 | |||||||||||||||||||||||||||||||||
| 10/31/15 | 14.66 | .06 | (.06 | ) | — | — | 11 | (.22 | ) | (.22 | ) | 14.44 | .05 | 2 | 1.23 | 1.13 | 1.62 | .41 | ||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 13.81 | .03 | .90 | .93 | (.07 | ) | (.01 | ) | (.08 | ) | 14.66 | 6.82 | 2 | 1.25 | 1.15 | 1.64 | .23 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 11.13 | .02 | 2.78 | 2.80 | (.11 | ) | (.01 | ) | (.12 | ) | 13.81 | 25.32 | 2 | 1.28 | 1.18 | 1.68 | .13 | |||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | (.01 | ) | 1.14 | 1.13 | — | — | — | 11.13 | 11.30 | 8 | 1 | .56 | 8 | .51 | 8 | 1.02 | 8 | (.08 | )8 | ||||||||||||||||||||||||||||||||||||
| Class C: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 14.37 | .06 | (.41 | ) | (.35 | ) | (.03 | ) | (.42 | ) | (.45 | ) | 13.57 | (2.46) | 8 | 216 | 1.18 | 9 | 1.15 | 9 | 1.64 | 9 | .95 | 9 | ||||||||||||||||||||||||||||||||
| 10/31/15 | 14.63 | .03 | (.02 | ) | .01 | (.05 | ) | (.22 | ) | (.27 | ) | 14.37 | .06 | 198 | 1.22 | 1.12 | 1.61 | .22 | ||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 13.79 | .02 | .93 | .95 | (.10 | ) | (.01 | ) | (.11 | ) | 14.63 | 6.92 | 134 | 1.24 | 1.14 | 1.63 | .14 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 11.13 | .01 | 2.78 | 2.79 | (.12 | ) | (.01 | ) | (.13 | ) | 13.79 | 25.27 | 62 | 1.26 | 1.16 | 1.66 | .04 | |||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | (.02 | ) | 1.15 | 1.13 | — | — | — | 11.13 | 11.30 | 8 | 8 | .56 | 8 | .51 | 8 | 1.02 | 8 | (.17 | )8 | ||||||||||||||||||||||||||||||||||||
| Class F-1: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 14.58 | .12 | (.41 | ) | (.29 | ) | (.11 | ) | (.42 | ) | (.53 | ) | 13.76 | (2.07 | )8 | 39 | .46 | 9 | .42 | 9 | .91 | 9 | 1.75 | 9 | ||||||||||||||||||||||||||||||||
| 10/31/15 | 14.82 | .15 | (.04 | ) | .11 | (.13 | ) | (.22 | ) | (.35 | ) | 14.58 | .77 | 39 | .50 | .40 | .89 | 1.01 | ||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 13.92 | .13 | .93 | 1.06 | (.15 | ) | (.01 | ) | (.16 | ) | 14.82 | 7.69 | 39 | .51 | .41 | .90 | .92 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 11.17 | .08 | 2.82 | 2.90 | (.14 | ) | (.01 | ) | (.15 | ) | 13.92 | 26.23 | 23 | .53 | .43 | .93 | .59 | |||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .03 | 1.14 | 1.17 | — | — | — | 11.17 | 11.70 | 8 | 2 | .19 | 8 | .14 | 8 | .65 | 8 | .28 | 8 | |||||||||||||||||||||||||||||||||||||
| Class F-2: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 14.64 | .12 | (.39 | ) | (.27 | ) | (.16 | ) | (.42 | ) | (.58 | ) | 13.79 | (1.93 | )8 | 72 | .19 | 9 | .16 | 9 | .65 | 9 | 1.84 | 9 | ||||||||||||||||||||||||||||||||
| 10/31/15 | 14.87 | .19 | (.04 | ) | .15 | (.16 | ) | (.22 | ) | (.38 | ) | 14.64 | 1.08 | 55 | .24 | .14 | .63 | 1.28 | ||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 13.96 | .17 | .92 | 1.09 | (.17 | ) | (.01 | ) | (.18 | ) | 14.87 | 7.90 | 41 | .24 | .14 | .63 | 1.15 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 11.18 | .12 | 2.82 | 2.94 | (.15 | ) | (.01 | ) | (.16 | ) | 13.96 | 26.57 | 20 | .27 | .17 | .67 | .96 | |||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .04 | 1.14 | 1.18 | — | — | — | 11.18 | 11.80 | 8 | 1 | .11 | 8 | .06 | 8 | .57 | 8 | .37 | 8 | |||||||||||||||||||||||||||||||||||||
| Class 529-A: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 14.56 | .11 | (.40 | ) | (.29 | ) | (.12 | ) | (.42 | ) | (.54 | ) | 13.73 | (2.06 | )8 | 138 | .45 | 9 | .42 | 9 | .91 | 9 | 1.66 | 9 | ||||||||||||||||||||||||||||||||
| 10/31/15 | 14.81 | .14 | (.04 | ) | .10 | (.13 | ) | (.22 | ) | (.35 | ) | 14.56 | .73 | 126 | .51 | .41 | .90 | .97 | ||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 13.91 | .13 | .93 | 1.06 | (.15 | ) | (.01 | ) | (.16 | ) | 14.81 | 7.70 | 94 | .51 | .41 | .90 | .87 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 11.16 | .12 | 2.78 | 2.90 | (.14 | ) | (.01 | ) | (.15 | ) | 13.91 | 26.27 | 45 | .50 | .40 | .90 | .96 | |||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .02 | 1.14 | 1.16 | — | — | — | 11.16 | 11.60 | 8 | 9 | .23 | 8 | .18 | 8 | .69 | 8 | .21 | 8 | |||||||||||||||||||||||||||||||||||||
See page 61 for footnotes.
| American Funds Portfolio Series | 41 |
Financial highlights (continued)
Global Growth Portfolio
| (Loss) income from investment operations1 | Dividends and distributions | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Period ended | Net asset value, beginning of period | Net investment income (loss) | Net (losses) gains on securities (both realized and unrealized) | Total from investment operations | Dividends (from net investment income) | Distri- butions (from capital gains) | Total dividends and distributions | Net asset value, end of period | Total return2,3 | Net assets, end of period (in millions) | Ratio of expenses to average net assets before reimburse- ments/ waivers4 | Ratio of expenses to average net assets after reimburse- ments/ waivers3,4 | Net effective expense ratio3,5 | Ratio of net income (loss) to average net assets3 | ||||||||||||||||||||||||||||||||||||||||||
| Class 529-B: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | $ | 14.42 | $ | .07 | $ | (.42 | ) | $ | (.35 | ) | $ | — | $ | (.42 | ) | $ | (.42 | ) | $ | 13.65 | (2.49 | )%8 | $ | — | 12 | 1.30 | %9 | 1.26 | %9 | 1.75 | %9 | 1.06 | %9 | |||||||||||||||||||||||
| 10/31/15 | 14.65 | .05 | (.06 | ) | (.01 | ) | — | (.22 | ) | (.22 | ) | 14.42 | (.04 | ) | — | 12 | 1.32 | 1.22 | 1.71 | .31 | ||||||||||||||||||||||||||||||||||||
| 10/31/14 | 13.80 | .03 | .90 | .93 | (.07 | ) | (.01 | ) | (.08 | ) | 14.65 | 6.79 | 1 | 1.33 | 1.23 | 1.72 | .21 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 11.14 | .03 | 2.75 | 2.78 | (.11 | ) | (.01 | ) | (.12 | ) | 13.80 | 25.11 | 1 | 1.38 | 1.28 | 1.78 | .21 | |||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | (.03 | ) | 1.17 | 1.14 | — | — | — | 11.14 | 11.40 | 8 | — | 12 | .59 | 8 | .54 | 8 | 1.05 | 8 | (.26 | )8 | |||||||||||||||||||||||||||||||||||
| Class 529-C: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 14.34 | .06 | (.40 | ) | (.34 | ) | (.02 | ) | (.42 | ) | (.44 | ) | 13.56 | (2.46 | )8 | 56 | 1.28 | 9 | 1.24 | 9 | 1.73 | 9 | .86 | 9 | ||||||||||||||||||||||||||||||||
| 10/31/15 | 14.61 | .03 | (.04 | ) | (.01 | ) | (.04 | ) | (.22 | ) | (.26 | ) | 14.34 | (.02 | ) | 53 | 1.31 | 1.21 | 1.70 | .18 | ||||||||||||||||||||||||||||||||||||
| 10/31/14 | 13.78 | — | 11 | .92 | .92 | (.08 | ) | (.01 | ) | (.09 | ) | 14.61 | 6.76 | 42 | 1.32 | 1.22 | 1.71 | (.03 | ) | |||||||||||||||||||||||||||||||||||||
| 10/31/13 | 11.12 | (.01 | ) | 2.80 | 2.79 | (.12 | ) | (.01 | ) | (.13 | ) | 13.78 | 25.23 | 16 | 1.36 | 1.26 | 1.76 | (.06 | ) | |||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | (.02 | ) | 1.14 | 1.12 | — | — | — | 11.12 | 11.20 | 8 | 2 | .60 | 8 | .56 | 8 | 1.07 | 8 | (.18 | )8 | ||||||||||||||||||||||||||||||||||||
| Class 529-E: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 14.50 | .09 | (.40 | ) | (.31 | ) | (.09 | ) | (.42 | ) | (.51 | ) | 13.68 | (2.20 | )8 | 5 | .73 | 9 | .69 | 9 | 1.18 | 9 | 1.39 | 9 | ||||||||||||||||||||||||||||||||
| 10/31/15 | 14.75 | .10 | (.02 | ) | .08 | (.11 | ) | (.22 | ) | (.33 | ) | 14.50 | .55 | 5 | .78 | .68 | 1.17 | .69 | ||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 13.88 | .08 | .93 | 1.01 | (.13 | ) | (.01 | ) | (.14 | ) | 14.75 | 7.33 | 4 | .79 | .69 | 1.18 | .55 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 11.16 | .06 | 2.80 | 2.86 | (.13 | ) | (.01 | ) | (.14 | ) | 13.88 | 25.89 | 2 | .82 | .72 | 1.22 | .49 | |||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .01 | 1.15 | 1.16 | — | — | — | 11.16 | 11.60 | 8 | — | 12 | .33 | 8 | .29 | 8 | .80 | 8 | .08 | 8 | ||||||||||||||||||||||||||||||||||||
| Class 529-F-1: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 14.61 | .12 | (.39 | ) | (.27 | ) | (.15 | ) | (.42 | ) | (.57 | ) | 13.77 | (1.94 | )8 | 9 | .27 | 9 | .24 | 9 | .73 | 9 | 1.84 | 9 | ||||||||||||||||||||||||||||||||
| 10/31/15 | 14.85 | .17 | (.03 | ) | .14 | (.16 | ) | (.22 | ) | (.38 | ) | 14.61 | .98 | 8 | .31 | .21 | .70 | 1.12 | ||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 13.94 | .14 | .94 | 1.08 | (.16 | ) | (.01 | ) | (.17 | ) | 14.85 | 7.85 | 4 | .31 | .21 | .70 | .96 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 11.18 | .16 | 2.76 | 2.92 | (.15 | ) | (.01 | ) | (.16 | ) | 13.94 | 26.37 | 1 | .37 | .27 | .77 | 1.26 | |||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .03 | 1.15 | 1.18 | — | — | — | 11.18 | 11.80 | 8 | — | 12 | .16 | 8 | .11 | 8 | .62 | 8 | .23 | 8 | ||||||||||||||||||||||||||||||||||||
| Class R-1: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 14.39 | .06 | (.40 | ) | (.34 | ) | (.03 | ) | (.42 | ) | (.45 | ) | 13.60 | (2.42 | )8 | 3 | 1.18 | 9 | 1.15 | 9 | 1.64 | 9 | .83 | 9 | ||||||||||||||||||||||||||||||||
| 10/31/15 | 14.65 | .02 | (.02 | ) | — | (.04 | ) | (.22 | ) | (.26 | ) | 14.39 | .03 | 2 | 1.23 | 1.13 | 1.62 | .17 | ||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 13.81 | .02 | .92 | .94 | (.09 | ) | (.01 | ) | (.10 | ) | 14.65 | 6.86 | 2 | 1.25 | 1.15 | 1.64 | .13 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 11.14 | .02 | 2.78 | 2.80 | (.12 | ) | (.01 | ) | (.13 | ) | 13.81 | 25.28 | 1 | 1.25 | 1.15 | 1.65 | .13 | |||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | — | 11 | 1.14 | 1.14 | — | — | — | 11.14 | 11.40 | 8 | — | 12 | .51 | 8 | .47 | 8 | .98 | 8 | (.04 | )8 | |||||||||||||||||||||||||||||||||||
| Class R-2: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 14.35 | .06 | (.40 | ) | (.34 | ) | (.04 | ) | (.42 | ) | (.46 | ) | 13.55 | (2.43 | )8 | 41 | 1.22 | 9 | 1.19 | 9 | 1.68 | 9 | .85 | 9 | ||||||||||||||||||||||||||||||||
| 10/31/15 | 14.62 | .02 | (.02 | ) | — | (.05 | ) | (.22 | ) | (.27 | ) | 14.35 | .03 | 33 | 1.25 | 1.15 | 1.64 | .17 | ||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 13.80 | — | 11 | .93 | .93 | (.10 | ) | (.01 | ) | (.11 | ) | 14.62 | 6.82 | 19 | 1.30 | 1.20 | 1.69 | .03 | ||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 11.15 | (.02 | ) | 2.81 | 2.79 | (.13 | ) | (.01 | ) | (.14 | ) | 13.80 | 25.24 | 7 | 1.27 | 1.17 | 1.67 | (.18 | ) | |||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | (.02 | ) | 1.17 | 1.15 | — | — | — | 11.15 | 11.50 | 8 | 1 | .47 | 8 | .42 | 8 | .93 | 8 | (.21 | )8 | ||||||||||||||||||||||||||||||||||||
| 42 | American Funds Portfolio Series |
Global Growth Portfolio
| (Loss) income from investment operations1 | Dividends and distributions | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Period ended | Net asset value, beginning of period | Net investment income (loss) | Net (losses) gains on securities (both realized and unrealized) | Total from investment operations | Dividends (from net investment income) | Distri- butions (from capital gains) | Total dividends and distributions | Net asset value, end of period | Total return2,3 | Net assets, end of period (in millions) | Ratio of expenses to average net assets before reimburse- ments/ waivers4 | Ratio of expenses to average net assets after reimburse- ments/ waivers3,4 | Net effective expense ratio3,5 | Ratio of net income (loss) to average net assets3 | ||||||||||||||||||||||||||||||||||||||||||
| Class R-2E: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | $ | 14.57 | $ | .13 | $ | (.41 | ) | $ | (.28 | ) | $ | (.14 | ) | $ | (.42 | ) | $ | (.56 | ) | $ | 13.73 | (2.02 | )%8 | $ | — | 12 | .31 | %9,13 | .25 | %9,13 | .74 | %9,13 | 1.89 | %9,13 | ||||||||||||||||||||||
| 10/31/15 | 14.82 | .17 | (.04 | ) | .13 | (.16 | ) | (.22 | ) | (.38 | ) | 14.57 | .94 | 13 | — | 12 | .38 | 13 | .27 | 13 | .76 | 13 | 1.18 | 13 | ||||||||||||||||||||||||||||||||
| 10/31/147,14 | 15.02 | .01 | (.21 | ) | (.20 | ) | — | — | — | 14.82 | (1.33 | )8,13 | — | 12 | .06 | 8,13 | .04 | 8,13 | .53 | 8,13 | .09 | 8,13 | ||||||||||||||||||||||||||||||||||
| Class R-3: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 14.49 | .09 | (.41 | ) | (.32 | ) | (.08 | ) | (.42 | ) | (.50 | ) | 13.67 | (2.26 | )8 | 19 | .75 | 9 | .72 | 9 | 1.21 | 9 | 1.34 | 9 | ||||||||||||||||||||||||||||||||
| 10/31/15 | 14.74 | .10 | (.03 | ) | .07 | (.10 | ) | (.22 | ) | (.32 | ) | 14.49 | .48 | 18 | .79 | .69 | 1.18 | .66 | ||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 13.86 | .09 | .92 | 1.01 | (.12 | ) | (.01 | ) | (.13 | ) | 14.74 | 7.38 | 13 | .82 | .72 | 1.21 | .60 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 11.16 | .05 | 2.80 | 2.85 | (.14 | ) | (.01 | ) | (.15 | ) | 13.86 | 25.77 | 6 | .83 | .73 | 1.23 | .36 | |||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .04 | 1.12 | 1.16 | — | — | — | 11.16 | 11.60 | 8 | — | 12 | .33 | 8 | .29 | 8 | .80 | 8 | .39 | 8 | ||||||||||||||||||||||||||||||||||||
| Class R-4: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 14.57 | .12 | (.41 | ) | (.29 | ) | (.13 | ) | (.42 | ) | (.55 | ) | 13.73 | (2.05 | )8 | 9 | .43 | 9 | .39 | 9 | .88 | 9 | 1.79 | 9 | ||||||||||||||||||||||||||||||||
| 10/31/15 | 14.82 | .15 | (.04 | ) | .11 | (.14 | ) | (.22 | ) | (.36 | ) | 14.57 | .81 | 9 | .47 | .37 | .86 | 1.00 | ||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 13.93 | .12 | .93 | 1.05 | (.15 | ) | (.01 | ) | (.16 | ) | 14.82 | 7.62 | 4 | .48 | .38 | .87 | .81 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 11.18 | .14 | 2.77 | 2.91 | (.15 | ) | (.01 | ) | (.16 | ) | 13.93 | 26.27 | 1 | .49 | .39 | .89 | 1.11 | |||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | — | 11 | 1.18 | 1.18 | — | — | — | 11.18 | 11.80 | 8 | — | 12 | .21 | 8 | .16 | 8 | .67 | 8 | (.02 | )8 | |||||||||||||||||||||||||||||||||||
| Class R-5E: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7,15 | 14.71 | .13 | (.54 | ) | (.41 | ) | (.17 | ) | (.42 | ) | (.59 | ) | 13.71 | (2.87 | )8 | — | 12 | .13 | 8 | .11 | 8 | .60 | 8 | .98 | 8 | |||||||||||||||||||||||||||||||
| Class R-5: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 14.70 | .13 | (.41 | ) | (.28 | ) | (.16 | ) | (.42 | ) | (.58 | ) | 13.84 | (1.94 | )8 | 3 | .13 | 9 | .10 | 9 | .59 | 9 | 1.94 | 9 | ||||||||||||||||||||||||||||||||
| 10/31/15 | 14.88 | .16 | — | 11 | .16 | (.12 | ) | (.22 | ) | (.34 | ) | 14.70 | 1.13 | 3 | .18 | .08 | .57 | 1.10 | ||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 13.97 | .27 | .82 | 1.09 | (.17 | ) | (.01 | ) | (.18 | ) | 14.88 | 7.92 | 1 | .21 | .11 | .60 | 1.84 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 11.18 | .18 | 2.77 | 2.95 | (.15 | ) | (.01 | ) | (.16 | ) | 13.97 | 26.66 | 20 | .23 | .13 | .63 | 1.47 | |||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .03 | 1.15 | 1.18 | — | — | — | 11.18 | 11.80 | 8 | 11 | .10 | 8 | .05 | 8 | .56 | 8 | .30 | 8 | |||||||||||||||||||||||||||||||||||||
| Class R-6: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 14.72 | .14 | (.41 | ) | (.27 | ) | (.17 | ) | (.42 | ) | (.59 | ) | 13.86 | (1.90 | )8 | 36 | .08 | 9 | .05 | 9 | .54 | 9 | 2.09 | 9 | ||||||||||||||||||||||||||||||||
| 10/31/15 | 14.95 | .20 | (.04 | ) | .16 | (.17 | ) | (.22 | ) | (.39 | ) | 14.72 | 1.15 | 39 | .14 | .04 | .53 | 1.36 | ||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 14.02 | .14 | .98 | 1.12 | (.18 | ) | (.01 | ) | (.19 | ) | 14.95 | 8.07 | 33 | .14 | .04 | .53 | .96 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 11.17 | .10 | 2.85 | 2.95 | (.09 | ) | (.01 | ) | (.10 | ) | 14.02 | 26.57 | 3 | .18 | .08 | .58 | .79 | |||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .05 | 1.12 | 1.17 | — | — | — | 11.17 | 11.70 | 8 | — | 12 | .13 | 8 | .08 | 8 | .59 | 8 | .52 | 8 | ||||||||||||||||||||||||||||||||||||
See page 61 for footnotes.
| American Funds Portfolio Series | 43 |
Financial highlights (continued)
Growth Portfolio
| (Loss) income from investment operations1 | Dividends and distributions | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Period ended | Net asset value, beginning of period | Net investment income (loss) | Net (losses) gains on securities (both realized and unrealized) | Total from investment operations | Dividends (from net investment income) | Distri- butions (from capital gains) | Total dividends and distributions | Net asset value, end of period | Total return2,3 | Net assets, end of period (in millions) | Ratio of expenses to average net assets before reimburse- ments/ waivers4 | Ratio of expenses to average net assets after reimburse- ments/ waivers3,4 | Net effective expense ratio3,5 | Ratio of net income (loss) to average net assets3 | ||||||||||||||||||||||||||||||||||||||||||
| Class A: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | $ | 15.41 | $ | .09 | $ | (.19 | ) | $ | (.10 | ) | $ | (.11 | ) | $ | (.60 | ) | $ | (.71 | ) | $ | 14.60 | (.74 | )%8 | $ | 2,303 | .38 | %9 | .35 | %9 | .78 | %9 | 1.33 | %9 | |||||||||||||||||||||||
| 10/31/15 | 15.36 | .10 | .43 | .53 | (.12 | ) | (.36 | ) | (.48 | ) | 15.41 | 3.48 | 2,042 | .42 | .32 | .75 | .65 | |||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 14.02 | .07 | 1.39 | 1.46 | (.08 | ) | (.04 | ) | (.12 | ) | 15.36 | 10.46 | 1,345 | .42 | .32 | .75 | .47 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 11.02 | .09 | 3.02 | 3.11 | (.11 | ) | — | (.11 | ) | 14.02 | 28.45 | 646 | .45 | .35 | .79 | .67 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .02 | 1.00 | 1.02 | — | — | — | 11.02 | 10.20 | 8 | 108 | .24 | 8 | .19 | 8 | .64 | 8 | .15 | 8 | |||||||||||||||||||||||||||||||||||||
| Class B: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 15.23 | .05 | (.22 | ) | (.17 | ) | — | (.60 | ) | (.60 | ) | 14.46 | (1.19 | )8 | 3 | 1.19 | 9 | 1.16 | 9 | 1.59 | 9 | .64 | 9 | |||||||||||||||||||||||||||||||||
| 10/31/15 | 15.18 | — | 11 | .41 | .41 | — | (.36 | ) | (.36 | ) | 15.23 | 2.70 | 4 | 1.23 | 1.13 | 1.56 | .01 | |||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 13.89 | (.04 | ) | 1.37 | 1.33 | — | (.04 | ) | (.04 | ) | 15.18 | 9.58 | 5 | 1.24 | 1.14 | 1.57 | (.28 | ) | ||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.98 | — | 11 | 3.00 | 3.00 | (.09 | ) | — | (.09 | ) | 13.89 | 27.47 | 5 | 1.26 | 1.16 | 1.60 | (.04 | ) | ||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | (.02 | ) | 1.00 | .98 | — | — | — | 10.98 | 9.80 | 8 | 1 | .55 | 8 | .51 | 8 | .96 | 8 | (.23 | )8 | ||||||||||||||||||||||||||||||||||||
| Class C: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 15.18 | .04 | (.21 | ) | (.17 | ) | (.01 | ) | (.60 | ) | (.61 | ) | 14.40 | (1.17 | )8 | 543 | 1.17 | 9 | 1.14 | 9 | 1.57 | 9 | .52 | 9 | ||||||||||||||||||||||||||||||||
| 10/31/15 | 15.16 | (.03 | ) | .44 | .41 | (.03 | ) | (.36 | ) | (.39 | ) | 15.18 | 2.69 | 458 | 1.21 | 1.11 | 1.54 | (.18 | ) | |||||||||||||||||||||||||||||||||||||
| 10/31/14 | 13.89 | (.05 | ) | 1.38 | 1.33 | (.02 | ) | (.04 | ) | (.06 | ) | 15.16 | 9.60 | 259 | 1.23 | 1.13 | 1.56 | (.35 | ) | |||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.98 | (.02 | ) | 3.02 | 3.00 | (.09 | ) | — | (.09 | ) | 13.89 | 27.52 | 108 | 1.24 | 1.14 | 1.58 | (.17 | ) | ||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | (.03 | ) | 1.01 | .98 | — | — | — | 10.98 | 9.80 | 8 | 14 | .55 | 8 | .50 | 8 | .95 | 8 | (.27 | )8 | ||||||||||||||||||||||||||||||||||||
| Class F-1: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 15.40 | .09 | (.21 | ) | (.12 | ) | (.09 | ) | (.60 | ) | (.69 | ) | 14.59 | (.82 | )8 | 63 | .44 | 9 | .41 | 9 | .84 | 9 | 1.27 | 9 | ||||||||||||||||||||||||||||||||
| 10/31/15 | 15.35 | .09 | .43 | .52 | (.11 | ) | (.36 | ) | (.47 | ) | 15.40 | 3.42 | 51 | .49 | .39 | .82 | .61 | |||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 14.01 | .06 | 1.40 | 1.46 | (.08 | ) | (.04 | ) | (.12 | ) | 15.35 | 10.44 | 40 | .50 | .40 | .83 | .41 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 11.02 | .08 | 3.02 | 3.10 | (.11 | ) | — | (.11 | ) | 14.01 | 28.41 | 19 | .51 | .41 | .85 | .64 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .02 | 1.00 | 1.02 | — | — | — | 11.02 | 10.20 | 8 | 3 | .19 | 8 | .15 | 8 | .60 | 8 | .19 | 8 | |||||||||||||||||||||||||||||||||||||
| Class F-2: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 15.47 | .11 | (.20 | ) | (.09 | ) | (.13 | ) | (.60 | ) | (.73 | ) | 14.65 | (.62 | )8 | 130 | .18 | 9 | .15 | 9 | .58 | 9 | 1.47 | 9 | ||||||||||||||||||||||||||||||||
| 10/31/15 | 15.41 | .13 | .43 | .56 | (.14 | ) | (.36 | ) | (.50 | ) | 15.47 | 3.68 | 104 | .23 | .13 | .56 | .82 | |||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 14.05 | .10 | 1.40 | 1.50 | (.10 | ) | (.04 | ) | (.14 | ) | 15.41 | 10.69 | 57 | .24 | .14 | .57 | .66 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 11.03 | .08 | 3.06 | 3.14 | (.12 | ) | — | (.12 | ) | 14.05 | 28.75 | 31 | .26 | .16 | .60 | .64 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .03 | 1.00 | 1.03 | — | — | — | 11.03 | 10.30 | 8 | 2 | .09 | 8 | .05 | 8 | .50 | 8 | .27 | 8 | |||||||||||||||||||||||||||||||||||||
| Class 529-A: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 15.40 | .09 | (.20 | ) | (.11 | ) | (.10 | ) | (.60 | ) | (.70 | ) | 14.59 | (.80 | )8 | 324 | .46 | 9 | .43 | 9 | .86 | 9 | 1.23 | 9 | ||||||||||||||||||||||||||||||||
| 10/31/15 | 15.35 | .09 | .43 | .52 | (.11 | ) | (.36 | ) | (.47 | ) | 15.40 | 3.43 | 280 | .49 | .39 | .82 | .58 | |||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 14.01 | .06 | 1.40 | 1.46 | (.08 | ) | (.04 | ) | (.12 | ) | 15.35 | 10.43 | 184 | .49 | .39 | .82 | .40 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 11.01 | .09 | 3.02 | 3.11 | (.11 | ) | — | (.11 | ) | 14.01 | 28.49 | 90 | .49 | .39 | .83 | .71 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .01 | 1.00 | 1.01 | — | — | — | 11.01 | 10.10 | 8 | 21 | .23 | 8 | .18 | 8 | .63 | 8 | .09 | 8 | |||||||||||||||||||||||||||||||||||||
| 44 | American Funds Portfolio Series |
Growth Portfolio
| (Loss) income from investment operations1 | Dividends and distributions | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Period ended | Net asset value, beginning of period | Net investment income (loss) | Net (losses) gains on securities (both realized and unrealized) | Total from investment operations | Dividends (from net investment income) | Distri- butions (from capital gains) | Total dividends and distributions | Net asset value, end of period | Total return2,3 | Net assets, end of period (in millions) | Ratio of expenses to average net assets before reimburse- ments/ waivers4 | Ratio of expenses to average net assets after reimburse- ments/ waivers3,4 | Net effective expense ratio3,5 | Ratio of net income (loss) to average net assets3 | ||||||||||||||||||||||||||||||||||||||||||
| Class 529-B: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | $ | 15.20 | $ | .05 | $ | (.22 | ) | $ | (.17 | ) | $ | — | $ | (.60 | ) | $ | (.60 | ) | $ | 14.43 | (1.19 | )%8 | $ | 1 | 1.30 | %9 | 1.25 | %9 | 1.68 | %9 | .70 | %9 | ||||||||||||||||||||||||
| 10/31/15 | 15.17 | (.02 | ) | .41 | .39 | — | (.36 | ) | (.36 | ) | 15.20 | 2.56 | 1 | 1.31 | 1.21 | 1.64 | (.12 | ) | ||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 13.89 | (.06 | ) | 1.38 | 1.32 | — | (.04 | ) | (.04 | ) | 15.17 | 9.51 | 1 | 1.32 | 1.22 | 1.65 | (.41 | ) | ||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.98 | .01 | 2.97 | 2.98 | (.07 | ) | — | (.07 | ) | 13.89 | 27.33 | 1 | 1.36 | 1.26 | 1.70 | .04 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | (.02 | ) | 1.00 | .98 | — | — | — | 10.98 | 9.80 | 8 | 1 | .59 | 8 | .55 | 8 | 1.00 | 8 | (.23 | )8 | ||||||||||||||||||||||||||||||||||||
| Class 529-C: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 15.18 | .03 | (.21 | ) | (.18 | ) | — | (.60 | ) | (.60 | ) | 14.40 | (1.26 | )8 | 109 | 1.26 | 9 | 1.23 | 9 | 1.66 | 9 | .44 | 9 | |||||||||||||||||||||||||||||||||
| 10/31/15 | 15.15 | (.04 | ) | .44 | .40 | (.01 | ) | (.36 | ) | (.37 | ) | 15.18 | 2.64 | 98 | 1.31 | 1.21 | 1.64 | (.24 | ) | |||||||||||||||||||||||||||||||||||||
| 10/31/14 | 13.88 | (.06 | ) | 1.37 | 1.31 | — | 11 | (.04 | ) | (.04 | ) | 15.15 | 9.45 | 65 | 1.31 | 1.21 | 1.64 | (.41 | ) | |||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.98 | (.02 | ) | 3.00 | 2.98 | (.08 | ) | — | (.08 | ) | 13.88 | 27.35 | 33 | 1.34 | 1.24 | 1.68 | (.15 | ) | ||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | (.03 | ) | 1.01 | .98 | — | — | — | 10.98 | 9.80 | 8 | 8 | .60 | 8 | .55 | 8 | 1.00 | 8 | (.30 | )8 | ||||||||||||||||||||||||||||||||||||
| Class 529-E: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 15.31 | .07 | (.20 | ) | (.13 | ) | (.07 | ) | (.60 | ) | (.67 | ) | 14.51 | (.94 | )8 | 16 | .72 | 9 | .69 | 9 | 1.12 | 9 | 1.00 | 9 | ||||||||||||||||||||||||||||||||
| 10/31/15 | 15.27 | .05 | .43 | .48 | (.08 | ) | (.36 | ) | (.44 | ) | 15.31 | 3.14 | 14 | .77 | .67 | 1.10 | .34 | |||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 13.96 | .01 | 1.39 | 1.40 | (.05 | ) | (.04 | ) | (.09 | ) | 15.27 | 10.08 | 11 | .78 | .68 | 1.11 | .09 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 11.00 | .05 | 3.02 | 3.07 | (.11 | ) | — | (.11 | ) | 13.96 | 28.14 | 5 | .80 | .70 | 1.14 | .39 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | (.01 | ) | 1.01 | 1.00 | — | — | — | 11.00 | 10.00 | 8 | 1 | .35 | 8 | .30 | 8 | .75 | 8 | (.05 | )8 | ||||||||||||||||||||||||||||||||||||
| Class 529-F-1: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 15.45 | .10 | (.20 | ) | (.10 | ) | (.12 | ) | (.60 | ) | (.72 | ) | 14.63 | (.74 | )8 | 26 | .26 | 9 | .23 | 9 | .66 | 9 | 1.37 | 9 | ||||||||||||||||||||||||||||||||
| 10/31/15 | 15.39 | .11 | .45 | .56 | (.14 | ) | (.36 | ) | (.50 | ) | 15.45 | 3.64 | 20 | .30 | .20 | .63 | .70 | |||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 14.04 | .09 | 1.39 | 1.48 | (.09 | ) | (.04 | ) | (.13 | ) | 15.39 | 10.60 | 10 | .31 | .21 | .64 | .59 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 11.03 | .11 | 3.02 | 3.13 | (.12 | ) | — | (.12 | ) | 14.04 | 28.73 | 4 | .34 | .24 | .68 | .90 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .02 | 1.01 | 1.03 | — | — | — | 11.03 | 10.20 | 8 | 1 | .14 | 8 | .10 | 8 | .55 | 8 | .16 | 8 | |||||||||||||||||||||||||||||||||||||
| Class R-1: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 15.22 | .04 | (.21 | ) | (.17 | ) | — | (.60 | ) | (.60 | ) | 14.45 | (1.19 | )8 | 7 | 1.18 | 9 | 1.15 | 9 | 1.58 | 9 | .50 | 9 | |||||||||||||||||||||||||||||||||
| 10/31/15 | 15.19 | (.03 | ) | .44 | .41 | (.02 | ) | (.36 | ) | (.38 | ) | 15.22 | 2.66 | 7 | 1.22 | 1.12 | 1.55 | (.19 | ) | |||||||||||||||||||||||||||||||||||||
| 10/31/14 | 13.90 | (.05 | ) | 1.38 | 1.33 | — | (.04 | ) | (.04 | ) | 15.19 | 9.57 | 5 | 1.24 | 1.14 | 1.57 | (.34 | ) | ||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.99 | .01 | 2.99 | 3.00 | (.09 | ) | — | (.09 | ) | 13.90 | 27.52 | 3 | 1.24 | 1.14 | 1.58 | .11 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | (.04 | ) | 1.03 | .99 | — | — | — | 10.99 | 9.90 | 8 | 1 | .56 | 8 | .51 | 8 | .96 | 8 | (.34 | )8 | ||||||||||||||||||||||||||||||||||||
| Class R-2: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 15.18 | .03 | (.20 | ) | (.17 | ) | (.01 | ) | (.60 | ) | (.61 | ) | 14.40 | (1.20 | )8 | 81 | 1.20 | 9 | 1.17 | 9 | 1.60 | 9 | .43 | 9 | ||||||||||||||||||||||||||||||||
| 10/31/15 | 15.16 | (.03 | ) | .43 | .40 | (.02 | ) | (.36 | ) | (.38 | ) | 15.18 | 2.65 | 61 | 1.24 | 1.14 | 1.57 | (.21 | ) | |||||||||||||||||||||||||||||||||||||
| 10/31/14 | 13.90 | (.06 | ) | 1.39 | 1.33 | (.03 | ) | (.04 | ) | (.07 | ) | 15.16 | 9.55 | 34 | 1.29 | 1.19 | 1.62 | (.42 | ) | |||||||||||||||||||||||||||||||||||||
| 10/31/13 | 11.00 | (.03 | ) | 3.03 | 3.00 | (.10 | ) | — | (.10 | ) | 13.90 | 27.44 | 13 | 1.24 | 1.14 | 1.58 | (.22 | ) | ||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | (.03 | ) | 1.03 | 1.00 | — | — | — | 11.00 | 10.00 | 8 | 2 | .48 | 8 | .44 | 8 | .89 | 8 | (.27 | )8 | ||||||||||||||||||||||||||||||||||||
See page 61 for footnotes.
| American Funds Portfolio Series | 45 |
Financial highlights (continued)
Growth Portfolio
| (Loss) income from investment operations1 | Dividends and distributions | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Period ended | Net asset value, beginning of period | Net investment income (loss) | Net (losses) gains on securities (both realized and unrealized) | Total from investment operations | Dividends (from net investment income) | Distri- butions (from capital gains) | Total dividends and distributions | Net asset value, end of period | Total return2,3 | Net assets, end of period (in millions) | Ratio of expenses to average net assets before reimburse- ments/ waivers4 | Ratio of expenses to average net assets after reimburse- ments/ waivers3,4 | Net effective expense ratio3,5 | Ratio of net income (loss) to average net assets3 | ||||||||||||||||||||||||||||||||||||||||||
| Class R-2E: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | $ | 15.38 | $ | .09 | $ | (.22 | ) | $ | (.13 | ) | $ | (.14 | ) | $ | (.60 | ) | $ | (.74 | ) | $ | 14.51 | (.95 | )%8 | $ | 2 | .76 | %9 | .74 | %9 | 1.17 | %9 | 1.34 | %9 | |||||||||||||||||||||||
| 10/31/15 | 15.36 | .07 | .45 | .52 | (.14 | ) | (.36 | ) | (.50 | ) | 15.38 | 3.43 | 13 | — | 12 | .52 | 13 | .42 | 13 | .85 | 13 | .48 | 13 | |||||||||||||||||||||||||||||||||
| 10/31/147,14 | 15.54 | .01 | (.19 | ) | (.18 | ) | — | — | — | 15.36 | (1.16 | )8,13 | — | 12 | .06 | 8,13 | .04 | 8,13 | .47 | 8,13 | .06 | 8,13 | ||||||||||||||||||||||||||||||||||
| Class R-3: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 15.32 | .07 | (.20 | ) | (.13 | ) | (.06 | ) | (.60 | ) | (.66 | ) | 14.53 | (.94 | )8 | 43 | .74 | 9 | .70 | 9 | 1.13 | 9 | .94 | 9 | ||||||||||||||||||||||||||||||||
| 10/31/15 | 15.29 | .04 | .43 | .47 | (.08 | ) | (.36 | ) | (.44 | ) | 15.32 | 3.07 | 37 | .78 | .68 | 1.11 | .25 | |||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 13.97 | .01 | 1.39 | 1.40 | (.04 | ) | (.04 | ) | (.08 | ) | 15.29 | 10.07 | 22 | .81 | .71 | 1.14 | .06 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 11.01 | .01 | 3.05 | 3.06 | (.10 | ) | — | (.10 | ) | 13.97 | 28.02 | 9 | .81 | .71 | 1.15 | .06 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .02 | .99 | 1.01 | — | — | — | 11.01 | 10.10 | 8 | — | 12 | .32 | 8 | .27 | 8 | .72 | 8 | .19 | 8 | ||||||||||||||||||||||||||||||||||||
| Class R-4: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 15.40 | .09 | (.20 | ) | (.11 | ) | (.11 | ) | (.60 | ) | (.71 | ) | 14.58 | (.79 | )8 | 27 | .42 | 9 | .39 | 9 | .82 | 9 | 1.26 | 9 | ||||||||||||||||||||||||||||||||
| 10/31/15 | 15.36 | .06 | .46 | .52 | (.12 | ) | (.36 | ) | (.48 | ) | 15.40 | 3.42 | 23 | .47 | .37 | .80 | .40 | |||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 14.02 | .06 | 1.40 | 1.46 | (.08 | ) | (.04 | ) | (.12 | ) | 15.36 | 10.44 | 7 | .47 | .37 | .80 | .39 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 11.03 | .08 | 3.03 | 3.11 | (.12 | ) | — | (.12 | ) | 14.02 | 28.45 | 2 | .46 | .36 | .80 | .62 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | — | 11 | 1.03 | 1.03 | — | — | — | 11.03 | 10.30 | 8 | — | 12 | .18 | 8 | .13 | 8 | .58 | 8 | .04 | 8 | |||||||||||||||||||||||||||||||||||
| Class R-5E: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7,15 | 15.52 | .11 | (.32 | ) | (.21 | ) | (.14 | ) | (.60 | ) | (.74 | ) | 14.57 | (1.40 | )8 | — | 12 | .12 | 8 | .11 | 8 | .54 | 8 | .77 | 8 | |||||||||||||||||||||||||||||||
| Class R-5: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 15.53 | .11 | (.20 | ) | (.09 | ) | (.14 | ) | (.60 | ) | (.74 | ) | 14.70 | (.64 | )8 | 6 | .12 | 9 | .09 | 9 | .52 | 9 | 1.55 | 9 | ||||||||||||||||||||||||||||||||
| 10/31/15 | 15.42 | .10 | .47 | .57 | (.10 | ) | (.36 | ) | (.46 | ) | 15.53 | 3.76 | 5 | .17 | .07 | .50 | .66 | |||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 14.06 | .15 | 1.35 | 1.50 | (.10 | ) | (.04 | ) | (.14 | ) | 15.42 | 10.72 | 1 | .20 | .10 | .53 | 1.03 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 11.03 | .14 | 3.01 | 3.15 | (.12 | ) | — | (.12 | ) | 14.06 | 28.84 | 20 | .20 | .10 | .54 | 1.12 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .03 | 1.00 | 1.03 | — | — | — | 11.03 | 10.30 | 8 | 9 | .09 | 8 | .04 | 8 | .49 | 8 | .24 | 8 | |||||||||||||||||||||||||||||||||||||
| Class R-6: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 15.50 | .12 | (.20 | ) | (.08 | ) | (.15 | ) | (.60 | ) | (.75 | ) | 14.67 | (.61 | )8 | 45 | .07 | 9 | .04 | 9 | .47 | 9 | 1.66 | 9 | ||||||||||||||||||||||||||||||||
| 10/31/15 | 15.43 | .16 | .42 | .58 | (.15 | ) | (.36 | ) | (.51 | ) | 15.50 | 3.83 | 46 | .13 | .03 | .46 | 1.00 | |||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 14.07 | .09 | 1.41 | 1.50 | (.10 | ) | (.04 | ) | (.14 | ) | 15.43 | 10.75 | 36 | .13 | .03 | .46 | .59 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 11.03 | .07 | 3.08 | 3.15 | (.11 | ) | — | (.11 | ) | 14.07 | 28.84 | 4 | .15 | .05 | .49 | .52 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .05 | .98 | 1.03 | — | — | — | 11.03 | 10.30 | 8 | — | 12 | .12 | 8 | .07 | 8 | .52 | 8 | .46 | 8 | ||||||||||||||||||||||||||||||||||||
| 46 | American Funds Portfolio Series |
Growth and Income Portfolio
| Income (loss) from investment operations1 | Dividends and distributions | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Period ended | Net asset value, beginning of period | Net investment income | Net gains (losses) on securities (both realized and unrealized) | Total from investment operations | Dividends (from net investment income) | Distri- butions (from capital gains) | Total dividends and distributions | Net asset value, end of period | Total return2,3 | Net assets, end of period (in millions) | Ratio of expenses to average net assets before reimburse- ments/ waivers4 | Ratio of expenses to average net assets after reimburse- ments/ waivers3,4 | Net effective expense ratio3,5 | Ratio of net income to average net assets3 | ||||||||||||||||||||||||||||||||||||||||||
| Class A: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | $ | 13.44 | $ | .14 | $ | .02 | $ | .16 | $ | (.15 | ) | $ | (.35 | ) | $ | (.50 | ) | $ | 13.10 | 1.25 | %8 | $ | 3,715 | .39 | %9 | .35 | %9 | .72 | %9 | 2.23 | %9 | |||||||||||||||||||||||||
| 10/31/15 | 13.80 | .26 | (.17 | ) | .09 | (.27 | ) | (.18 | ) | (.45 | ) | 13.44 | .70 | 3,363 | .42 | .32 | .69 | 1.95 | ||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 12.74 | .28 | 1.08 | 1.36 | (.29 | ) | (.01 | ) | (.30 | ) | 13.80 | 10.77 | 2,564 | .42 | .32 | .69 | 2.08 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.88 | .26 | 1.88 | 2.14 | (.28 | ) | — | (.28 | ) | 12.74 | 20.01 | 1,394 | .43 | .33 | .70 | 2.19 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .09 | .87 | .96 | (.08 | ) | — | (.08 | ) | 10.88 | 9.63 | 8 | 300 | .23 | 8 | .18 | 8 | .56 | 8 | .89 | 8 | |||||||||||||||||||||||||||||||||||
| Class B: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 13.42 | .09 | .01 | .10 | (.09 | ) | (.35 | ) | (.44 | ) | 13.08 | .80 | 8 | 4 | 1.19 | 9 | 1.15 | 9 | 1.52 | 9 | 1.46 | 9 | ||||||||||||||||||||||||||||||||||
| 10/31/15 | 13.77 | .17 | (.19 | ) | (.02 | ) | (.15 | ) | (.18 | ) | (.33 | ) | 13.42 | (.10 | ) | 6 | 1.22 | 1.12 | 1.49 | 1.25 | ||||||||||||||||||||||||||||||||||||
| 10/31/14 | 12.71 | .18 | 1.06 | 1.24 | (.17 | ) | (.01 | ) | (.18 | ) | 13.77 | 9.88 | 10 | 1.23 | 1.13 | 1.50 | 1.33 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.86 | .17 | 1.88 | 2.05 | (.20 | ) | — | (.20 | ) | 12.71 | 19.08 | 10 | 1.25 | 1.15 | 1.52 | 1.47 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .06 | .87 | .93 | (.07 | ) | — | (.07 | ) | 10.86 | 9.30 | 8 | 4 | .55 | 8 | .50 | 8 | .88 | 8 | .59 | 8 | |||||||||||||||||||||||||||||||||||
| Class C: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 13.37 | .09 | .02 | .11 | (.10 | ) | (.35 | ) | (.45 | ) | 13.03 | .89 | 8 | 849 | 1.16 | 9 | 1.13 | 9 | 1.50 | 9 | 1.44 | 9 | ||||||||||||||||||||||||||||||||||
| 10/31/15 | 13.74 | .15 | (.17 | ) | (.02 | ) | (.17 | ) | (.18 | ) | (.35 | ) | 13.37 | (.12 | ) | 737 | 1.21 | 1.11 | 1.48 | 1.14 | ||||||||||||||||||||||||||||||||||||
| 10/31/14 | 12.69 | .17 | 1.08 | 1.25 | (.19 | ) | (.01 | ) | (.20 | ) | 13.74 | 9.93 | 491 | 1.22 | 1.12 | 1.49 | 1.27 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.86 | .16 | 1.88 | 2.04 | (.21 | ) | — | (.21 | ) | 12.69 | 19.03 | 237 | 1.22 | 1.12 | 1.49 | 1.36 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .06 | .87 | .93 | (.07 | ) | — | (.07 | ) | 10.86 | 9.30 | 8 | 40 | .54 | 8 | .50 | 8 | .88 | 8 | .53 | 8 | |||||||||||||||||||||||||||||||||||
| Class F-1: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 13.44 | .14 | .02 | .16 | (.15 | ) | (.35 | ) | (.50 | ) | 13.10 | 1.23 | 8 | 96 | .43 | 9 | .40 | 9 | .77 | 9 | 2.19 | 9 | ||||||||||||||||||||||||||||||||||
| 10/31/15 | 13.80 | .26 | (.18 | ) | .08 | (.26 | ) | (.18 | ) | (.44 | ) | 13.44 | .64 | 84 | .48 | .38 | .75 | 1.90 | ||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 12.74 | .27 | 1.08 | 1.35 | (.28 | ) | (.01 | ) | (.29 | ) | 13.80 | 10.70 | 63 | .49 | .39 | .76 | 2.00 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.88 | .26 | 1.88 | 2.14 | (.28 | ) | — | (.28 | ) | 12.74 | 19.98 | 33 | .49 | .39 | .76 | 2.16 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .08 | .88 | .96 | (.08 | ) | — | (.08 | ) | 10.88 | 9.66 | 8 | 7 | .20 | 8 | .15 | 8 | .53 | 8 | .79 | 8 | |||||||||||||||||||||||||||||||||||
| Class F-2: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 13.46 | .15 | .02 | .17 | (.16 | ) | (.35 | ) | (.51 | ) | 13.12 | 1.36 | 8 | 156 | .17 | 9 | .14 | 9 | .51 | 9 | 2.41 | 9 | ||||||||||||||||||||||||||||||||||
| 10/31/15 | 13.82 | .28 | (.16 | ) | .12 | (.30 | ) | (.18 | ) | (.48 | ) | 13.46 | .88 | 125 | .23 | .13 | .50 | 2.08 | ||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 12.75 | .30 | 1.09 | 1.39 | (.31 | ) | (.01 | ) | (.32 | ) | 13.82 | 11.03 | 73 | .23 | .13 | .50 | 2.27 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.89 | .28 | 1.88 | 2.16 | (.30 | ) | — | (.30 | ) | 12.75 | 20.22 | 33 | .24 | .14 | .51 | 2.31 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .11 | .87 | .98 | (.09 | ) | — | (.09 | ) | 10.89 | 9.81 | 8 | 4 | .09 | 8 | .04 | 8 | .42 | 8 | 1.06 | 8 | |||||||||||||||||||||||||||||||||||
| Class 529-A: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 13.44 | .14 | .02 | .16 | (.15 | ) | (.35 | ) | (.50 | ) | 13.10 | 1.21 | 8 | 301 | .47 | 9 | .44 | 9 | .81 | 9 | 2.14 | 9 | ||||||||||||||||||||||||||||||||||
| 10/31/15 | 13.80 | .25 | (.17 | ) | .08 | (.26 | ) | (.18 | ) | (.44 | ) | 13.44 | .61 | 276 | .51 | .41 | .78 | 1.87 | ||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 12.74 | .27 | 1.07 | 1.34 | (.27 | ) | (.01 | ) | (.28 | ) | 13.80 | 10.67 | 221 | .51 | .41 | .78 | 2.00 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.88 | .26 | 1.88 | 2.14 | (.28 | ) | — | (.28 | ) | 12.74 | 19.95 | 129 | .49 | .39 | .76 | 2.17 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .09 | .87 | .96 | (.08 | ) | — | (.08 | ) | 10.88 | 9.61 | 8 | 36 | .26 | 8 | .22 | 8 | .60 | 8 | .84 | 8 | |||||||||||||||||||||||||||||||||||
See page 61 for footnotes.
| American Funds Portfolio Series | 47 |
Financial highlights (continued)
Growth and Income Portfolio
| Income (loss) from investment operations1 | Dividends and distributions | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Period ended | Net asset value, beginning of period | Net investment income | Net gains (losses) on securities (both realized and unrealized) | Total from investment operations | Dividends (from net investment income) | Distri- butions (from capital gains) | Total dividends and distributions | Net asset value, end of period | Total return2,3 | Net assets, end of period (in millions) | Ratio of expenses to average net assets before reimburse- ments/ waivers4 | Ratio of expenses to average net assets after reimburse- ments/ waivers3,4 | Net effective expense ratio3,5 | Ratio of net income to average net assets3 | ||||||||||||||||||||||||||||||||||||||||||
| Class 529-B: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | $ | 13.42 | $ | .08 | $ | .02 | $ | .10 | $ | (.08 | ) | $ | (.35 | ) | $ | (.43 | ) | $ | 13.09 | .80 | %8 | $ | 1 | 1.27 | %9 | 1.23 | %9 | 1.60 | %9 | 1.33 | %9 | |||||||||||||||||||||||||
| 10/31/15 | 13.77 | .15 | (.18 | ) | (.03 | ) | (.14 | ) | (.18 | ) | (.32 | ) | 13.42 | (.19 | ) | 1 | 1.31 | 1.21 | 1.58 | 1.11 | ||||||||||||||||||||||||||||||||||||
| 10/31/14 | 12.71 | .16 | 1.07 | 1.23 | (.16 | ) | (.01 | ) | (.17 | ) | 13.77 | 9.79 | 2 | 1.32 | 1.22 | 1.59 | 1.21 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.86 | .17 | 1.87 | 2.04 | (.19 | ) | — | (.19 | ) | 12.71 | 18.99 | 1 | 1.34 | 1.24 | 1.61 | 1.45 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .06 | .86 | .92 | (.06 | ) | — | (.06 | ) | 10.86 | 9.25 | 8 | 1 | .59 | 8 | .54 | 8 | .92 | 8 | .53 | 8 | |||||||||||||||||||||||||||||||||||
| Class 529-C: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 13.38 | .09 | .02 | .11 | (.10 | ) | (.35 | ) | (.45 | ) | 13.04 | .83 | 8 | 123 | 1.26 | 9 | 1.22 | 9 | 1.59 | 9 | 1.35 | 9 | ||||||||||||||||||||||||||||||||||
| 10/31/15 | 13.74 | .15 | (.17 | ) | (.02 | ) | (.16 | ) | (.18 | ) | (.34 | ) | 13.38 | (.15 | ) | 114 | 1.30 | 1.20 | 1.57 | 1.08 | ||||||||||||||||||||||||||||||||||||
| 10/31/14 | 12.69 | .16 | 1.07 | 1.23 | (.17 | ) | (.01 | ) | (.18 | ) | 13.74 | 9.81 | 93 | 1.31 | 1.21 | 1.58 | 1.20 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.86 | .16 | 1.86 | 2.02 | (.19 | ) | — | (.19 | ) | 12.69 | 18.86 | 56 | 1.33 | 1.23 | 1.60 | 1.33 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .05 | .88 | .93 | (.07 | ) | — | (.07 | ) | 10.86 | 9.29 | 8 | 15 | .59 | 8 | .54 | 8 | .92 | 8 | .49 | 8 | |||||||||||||||||||||||||||||||||||
| Class 529-E: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 13.41 | .12 | .02 | .14 | (.13 | ) | (.35 | ) | (.48 | ) | 13.07 | 1.10 | 8 | 16 | .71 | 9 | .68 | 9 | 1.05 | 9 | 1.92 | 9 | ||||||||||||||||||||||||||||||||||
| 10/31/15 | 13.78 | .22 | (.18 | ) | .04 | (.23 | ) | (.18 | ) | (.41 | ) | 13.41 | .29 | 14 | .76 | .66 | 1.03 | 1.61 | ||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 12.72 | .23 | 1.08 | 1.31 | (.24 | ) | (.01 | ) | (.25 | ) | 13.78 | 10.42 | 10 | .78 | .68 | 1.05 | 1.74 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.87 | .21 | 1.89 | 2.10 | (.25 | ) | — | (.25 | ) | 12.72 | 19.61 | 6 | .79 | .69 | 1.06 | 1.80 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .07 | .88 | .95 | (.08 | ) | — | (.08 | ) | 10.87 | 9.52 | 8 | 1 | .34 | 8 | .30 | 8 | .68 | 8 | .63 | 8 | |||||||||||||||||||||||||||||||||||
| Class 529-F-1: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 13.45 | .15 | .02 | .17 | (.16 | ) | (.35 | ) | (.51 | ) | 13.11 | 1.31 | 8 | 23 | .25 | 9 | .22 | 9 | .59 | 9 | 2.32 | 9 | ||||||||||||||||||||||||||||||||||
| 10/31/15 | 13.81 | .28 | (.17 | ) | .11 | (.29 | ) | (.18 | ) | (.47 | ) | 13.45 | .81 | 19 | .30 | .20 | .57 | 2.09 | ||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 12.75 | .29 | 1.08 | 1.37 | (.30 | ) | (.01 | ) | (.31 | ) | 13.81 | 10.87 | 16 | .30 | .20 | .57 | 2.19 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.89 | .29 | 1.87 | 2.16 | (.30 | ) | — | (.30 | ) | 12.75 | 20.14 | 10 | .32 | .22 | .59 | 2.41 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .10 | .87 | .97 | (.08 | ) | — | (.08 | ) | 10.89 | 9.78 | 8 | 1 | .14 | 8 | .09 | 8 | .47 | 8 | .89 | 8 | |||||||||||||||||||||||||||||||||||
| Class R-1: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 13.39 | .09 | .02 | .11 | (.10 | ) | (.35 | ) | (.45 | ) | 13.05 | .86 | 8 | 8 | 1.18 | 9 | 1.14 | 9 | 1.51 | 9 | 1.42 | 9 | ||||||||||||||||||||||||||||||||||
| 10/31/15 | 13.75 | .15 | (.17 | ) | (.02 | ) | (.16 | ) | (.18 | ) | (.34 | ) | 13.39 | (.11 | ) | 7 | 1.22 | 1.12 | 1.49 | 1.12 | ||||||||||||||||||||||||||||||||||||
| 10/31/14 | 12.70 | .17 | 1.07 | 1.24 | (.18 | ) | (.01 | ) | (.19 | ) | 13.75 | 9.88 | 7 | 1.23 | 1.13 | 1.50 | 1.28 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.86 | .16 | 1.89 | 2.05 | (.21 | ) | — | (.21 | ) | 12.70 | 19.12 | 4 | 1.23 | 1.13 | 1.50 | 1.38 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .08 | .85 | .93 | (.07 | ) | — | (.07 | ) | 10.86 | 9.28 | 8 | 1 | .54 | 8 | .50 | 8 | .88 | 8 | .79 | 8 | |||||||||||||||||||||||||||||||||||
| Class R-2: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 13.37 | .09 | .01 | .10 | (.10 | ) | (.35 | ) | (.45 | ) | 13.02 | .80 | 8 | 79 | 1.20 | 9 | 1.17 | 9 | 1.54 | 9 | 1.40 | 9 | ||||||||||||||||||||||||||||||||||
| 10/31/15 | 13.74 | .15 | (.17 | ) | (.02 | ) | (.17 | ) | (.18 | ) | (.35 | ) | 13.37 | (.12 | ) | 63 | 1.24 | 1.14 | 1.51 | 1.09 | ||||||||||||||||||||||||||||||||||||
| 10/31/14 | 12.69 | .16 | 1.08 | 1.24 | (.18 | ) | (.01 | ) | (.19 | ) | 13.74 | 9.89 | 38 | 1.28 | 1.18 | 1.55 | 1.23 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.86 | .14 | 1.90 | 2.04 | (.21 | ) | — | (.21 | ) | 12.69 | 19.09 | 18 | 1.24 | 1.14 | 1.51 | 1.21 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .06 | .87 | .93 | (.07 | ) | — | (.07 | ) | 10.86 | 9.38 | 8 | 1 | .48 | 8 | .43 | 8 | .81 | 8 | .52 | 8 | |||||||||||||||||||||||||||||||||||
| 48 | American Funds Portfolio Series |
Growth and Income Portfolio
| Income (loss) from investment operations1 | Dividends and distributions | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Period ended | Net asset value, beginning of period | Net investment income | Net gains (losses) on securities (both realized and unrealized) | Total from investment operations | Dividends (from net investment income) | Distri- butions (from capital gains) | Total dividends and distributions | Net asset value, end of period | Total return2,3 | Net assets, end of period (in millions) | Ratio of expenses to average net assets before reimburse- ments/ waivers4 | Ratio of expenses to average net assets after reimburse- ments/ waivers3,4 | Net effective expense ratio3,5 | Ratio of net income to average net assets3 | ||||||||||||||||||||||||||||||||||||||||||
| Class R-2E: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | $ | 13.44 | $ | .08 | $ | .06 | $ | .14 | $ | (.15 | ) | $ | (.35 | ) | $ | (.50 | ) | $ | 13.08 | 1.07 | %8 | $ | 2 | .75 | %9 | .75 | %9 | 1.12 | %9 | 1.32 | %9 | |||||||||||||||||||||||||
| 10/31/15 | 13.80 | .28 | (.18 | ) | .10 | (.28 | ) | (.18 | ) | (.46 | ) | 13.44 | .76 | 13 | — | 12 | .36 | 13 | .25 | 13 | .62 | 13 | 2.07 | 13 | ||||||||||||||||||||||||||||||||
| 10/31/147,14 | 13.91 | .06 | (.11 | ) | (.05 | ) | (.06 | ) | — | (.06 | ) | 13.80 | (.34 | )8,13 | — | 12 | .06 | 8,13 | .04 | 8,13 | .41 | 8,13 | .44 | 8,13 | ||||||||||||||||||||||||||||||||
| Class R-3: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 13.41 | .12 | .01 | .13 | (.13 | ) | (.35 | ) | (.48 | ) | 13.06 | 1.02 | 8 | 51 | .73 | 9 | .70 | 9 | 1.07 | 9 | 1.88 | 9 | ||||||||||||||||||||||||||||||||||
| 10/31/15 | 13.77 | .22 | (.17 | ) | .05 | (.23 | ) | (.18 | ) | (.41 | ) | 13.41 | .36 | 41 | .78 | .68 | 1.05 | 1.59 | ||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 12.72 | .22 | 1.08 | 1.30 | (.24 | ) | (.01 | ) | (.25 | ) | 13.77 | 10.31 | 28 | .80 | .70 | 1.07 | 1.68 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.87 | .21 | 1.89 | 2.10 | (.25 | ) | — | (.25 | ) | 12.72 | 19.67 | 13 | .80 | .70 | 1.07 | 1.79 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .12 | .83 | .95 | (.08 | ) | — | (.08 | ) | 10.87 | 9.52 | 8 | 1 | .31 | 8 | .27 | 8 | .65 | 8 | 1.09 | 8 | |||||||||||||||||||||||||||||||||||
| Class R-4: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 13.44 | .14 | .02 | .16 | (.15 | ) | (.35 | ) | (.50 | ) | 13.10 | 1.25 | 8 | 44 | .41 | 9 | .38 | 9 | .75 | 9 | 2.21 | 9 | ||||||||||||||||||||||||||||||||||
| 10/31/15 | 13.80 | .22 | (.13 | ) | .09 | (.27 | ) | (.18 | ) | (.45 | ) | 13.44 | .67 | 35 | .46 | .36 | .73 | 1.66 | ||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 12.74 | .27 | 1.08 | 1.35 | (.28 | ) | (.01 | ) | (.29 | ) | 13.80 | 10.75 | 10 | .47 | .37 | .74 | 2.00 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.89 | .24 | 1.90 | 2.14 | (.29 | ) | — | (.29 | ) | 12.74 | 19.95 | 2 | .44 | .34 | .71 | 1.97 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .11 | .86 | .97 | (.08 | ) | — | (.08 | ) | 10.89 | 9.78 | 8 | — | 12 | .16 | 8 | .11 | 8 | .49 | 8 | 1.02 | 8 | ||||||||||||||||||||||||||||||||||
| Class R-5E: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7,15 | 13.41 | .15 | .04 | .19 | (.16 | ) | (.35 | ) | (.51 | ) | 13.09 | 1.50 | 8 | — | 12 | .12 | 8 | .10 | 8 | .47 | 8 | 1.20 | 8 | |||||||||||||||||||||||||||||||||
| Class R-5: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 13.48 | .16 | .02 | .18 | (.17 | ) | (.35 | ) | (.52 | ) | 13.14 | 1.38 | 8 | 4 | .12 | 9 | .09 | 9 | .46 | 9 | 2.47 | 9 | ||||||||||||||||||||||||||||||||||
| 10/31/15 | 13.84 | .29 | (.17 | ) | .12 | (.30 | ) | (.18 | ) | (.48 | ) | 13.48 | .94 | 3 | .17 | .07 | .44 | 2.16 | ||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 12.76 | .35 | 1.03 | 1.38 | (.29 | ) | (.01 | ) | (.30 | ) | 13.84 | 10.99 | 1 | .19 | .09 | .46 | 2.65 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.89 | .30 | 1.88 | 2.18 | (.31 | ) | — | (.31 | ) | 12.76 | 20.35 | 20 | .18 | .08 | .45 | 2.58 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .10 | .88 | .98 | (.09 | ) | — | (.09 | ) | 10.89 | 9.81 | 8 | 11 | .08 | 8 | .03 | 8 | .41 | 8 | .96 | 8 | |||||||||||||||||||||||||||||||||||
| Class R-6: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 13.46 | .16 | .02 | .18 | (.17 | ) | (.35 | ) | (.52 | ) | 13.12 | 1.40 | 8 | 49 | .06 | 9 | .03 | 9 | .40 | 9 | 2.54 | 9 | ||||||||||||||||||||||||||||||||||
| 10/31/15 | 13.82 | .30 | (.17 | ) | .13 | (.31 | ) | (.18 | ) | (.49 | ) | 13.46 | .98 | 44 | .12 | .02 | .39 | 2.20 | ||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 12.75 | .29 | 1.11 | 1.40 | (.32 | ) | (.01 | ) | (.33 | ) | 13.82 | 11.13 | 32 | .12 | .02 | .39 | 2.14 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.89 | .27 | 1.90 | 2.17 | (.31 | ) | — | (.31 | ) | 12.75 | 20.26 | 1 | .14 | .04 | .41 | 2.27 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .11 | .86 | .97 | (.08 | ) | — | (.08 | ) | 10.89 | 9.78 | 8 | — | 12 | .14 | 8 | .10 | 8 | .48 | 8 | 1.02 | 8 | ||||||||||||||||||||||||||||||||||
See page 61 for footnotes.
| American Funds Portfolio Series | 49 |
Financial highlights (continued)
Balanced Portfolio
| Income (loss) from investment operations1 | Dividends and distributions | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Period ended | Net asset value, beginning of period | Net investment income | Net gains (losses) on securities (both realized and unrealized) | Total from investment operations | Dividends (from net investment income) | Distri- butions (from capital gains) | Total dividends and distributions | Net asset value, end of period | Total return2,3 | Net assets, end of period (in millions) | Ratio of expenses to average net assets before reimburse- ments/ waivers4 | Ratio of expenses to average net assets after reimburse- ments/ waivers3,4 | Net effective expense ratio3,5 | Ratio of net income to average net assets3 | ||||||||||||||||||||||||||||||||||||||||||
| Class A: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | $ | 13.41 | $ | .11 | $ | .02 | $ | .13 | $ | (.12 | ) | $ | (.27 | ) | $ | (.39 | ) | $ | 13.15 | 1.04 | %8 | $ | 2,965 | .41 | %9 | .38 | %9 | .76 | %9 | 1.74 | %9 | |||||||||||||||||||||||||
| 10/31/15 | 13.32 | .20 | .17 | .37 | (.19 | ) | (.09 | ) | (.28 | ) | 13.41 | 2.76 | 2,586 | .42 | .32 | .70 | 1.51 | |||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 12.44 | .22 | .88 | 1.10 | (.22 | ) | — | (.22 | ) | 13.32 | 8.94 | 1,803 | .43 | .33 | .67 | 1.67 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.80 | .21 | 1.64 | 1.85 | (.21 | ) | — | (.21 | ) | 12.44 | 17.29 | 1,010 | .45 | .35 | .69 | 1.76 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .08 | .78 | .86 | (.06 | ) | — | (.06 | ) | 10.80 | 8.62 | 8 | 239 | .23 | 8 | .18 | 8 | .53 | 8 | .73 | 8 | |||||||||||||||||||||||||||||||||||
| Class B: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 13.39 | .06 | .01 | .07 | (.06 | ) | (.27 | ) | (.33 | ) | 13.13 | .60 | 8 | 3 | 1.19 | 9 | 1.15 | 9 | 1.53 | 9 | 1.00 | 9 | ||||||||||||||||||||||||||||||||||
| 10/31/15 | 13.29 | .10 | .16 | .26 | (.07 | ) | (.09 | ) | (.16 | ) | 13.39 | 1.97 | 5 | 1.22 | 1.12 | 1.50 | .77 | |||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 12.41 | .12 | .88 | 1.00 | (.12 | ) | — | (.12 | ) | 13.29 | 8.08 | 7 | 1.23 | 1.13 | 1.47 | .92 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.78 | .12 | 1.63 | 1.75 | (.12 | ) | — | (.12 | ) | 12.41 | 16.38 | 7 | 1.25 | 1.15 | 1.49 | 1.03 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .04 | .79 | .83 | (.05 | ) | — | (.05 | ) | 10.78 | 8.29 | 8 | 3 | .55 | 8 | .50 | 8 | .85 | 8 | .37 | 8 | |||||||||||||||||||||||||||||||||||
| Class C: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 13.34 | .06 | .02 | .08 | (.07 | ) | (.27 | ) | (.34 | ) | 13.08 | .69 | 8 | 787 | 1.17 | 9 | 1.14 | 9 | 1.52 | 9 | .98 | 9 | ||||||||||||||||||||||||||||||||||
| 10/31/15 | 13.26 | .09 | .17 | .26 | (.09 | ) | (.09 | ) | (.18 | ) | 13.34 | 1.96 | 658 | 1.21 | 1.11 | 1.49 | .71 | |||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 12.39 | .11 | .89 | 1.00 | (.13 | ) | — | (.13 | ) | 13.26 | 8.11 | 416 | 1.22 | 1.12 | 1.46 | .86 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.78 | .11 | 1.64 | 1.75 | (.14 | ) | — | (.14 | ) | 12.39 | 16.32 | 197 | 1.23 | 1.13 | 1.47 | .96 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .04 | .79 | .83 | (.05 | ) | — | (.05 | ) | 10.78 | 8.30 | 8 | 40 | .54 | 8 | .50 | 8 | .85 | 8 | .37 | 8 | |||||||||||||||||||||||||||||||||||
| Class F-1: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 13.41 | .11 | .02 | .13 | (.12 | ) | (.27 | ) | (.39 | ) | 13.15 | 1.03 | 8 | 120 | .43 | 9 | .40 | 9 | .78 | 9 | 1.66 | 9 | ||||||||||||||||||||||||||||||||||
| 10/31/15 | 13.32 | .19 | .17 | .36 | (.18 | ) | (.09 | ) | (.27 | ) | 13.41 | 2.71 | 85 | .48 | .38 | .76 | 1.46 | |||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 12.43 | .21 | .89 | 1.10 | (.21 | ) | — | (.21 | ) | 13.32 | 8.94 | 62 | .49 | .39 | .73 | 1.63 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.80 | .19 | 1.65 | 1.84 | (.21 | ) | — | (.21 | ) | 12.43 | 17.20 | 40 | .50 | .40 | .74 | 1.61 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .08 | .78 | .86 | (.06 | ) | — | (.06 | ) | 10.80 | 8.64 | 8 | 4 | .19 | 8 | .15 | 8 | .50 | 8 | .79 | 8 | |||||||||||||||||||||||||||||||||||
| Class F-2: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 13.43 | .13 | .02 | .15 | (.14 | ) | (.27 | ) | (.41 | ) | 13.17 | 1.16 | 8 | 166 | .17 | 9 | .14 | 9 | .52 | 9 | 1.96 | 9 | ||||||||||||||||||||||||||||||||||
| 10/31/15 | 13.33 | .23 | .17 | .40 | (.21 | ) | (.09 | ) | (.30 | ) | 13.43 | 3.03 | 104 | .23 | .13 | .51 | 1.69 | |||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 12.45 | .24 | .89 | 1.13 | (.25 | ) | — | (.25 | ) | 13.33 | 9.11 | 64 | .23 | .13 | .47 | 1.84 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.81 | .23 | 1.64 | 1.87 | (.23 | ) | — | (.23 | ) | 12.45 | 17.51 | 29 | .25 | .15 | .49 | 1.96 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .09 | .79 | .88 | (.07 | ) | — | (.07 | ) | 10.81 | 8.80 | 8 | 6 | .09 | 8 | .04 | 8 | .39 | 8 | .88 | 8 | |||||||||||||||||||||||||||||||||||
| Class 529-A: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 13.41 | .11 | .02 | .13 | (.12 | ) | (.27 | ) | (.39 | ) | 13.15 | 1.01 | 8 | 198 | .47 | 9 | .44 | 9 | .82 | 9 | 1.69 | 9 | ||||||||||||||||||||||||||||||||||
| 10/31/15 | 13.32 | .19 | .17 | .36 | (.18 | ) | (.09 | ) | (.27 | ) | 13.41 | 2.66 | 182 | .52 | .42 | .80 | 1.42 | |||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 12.43 | .21 | .89 | 1.10 | (.21 | ) | — | �� | (.21 | ) | 13.32 | 8.92 | 144 | .52 | .42 | .76 | 1.59 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.79 | .21 | 1.63 | 1.84 | (.20 | ) | — | (.20 | ) | 12.43 | 17.27 | 90 | .49 | .39 | .73 | 1.77 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .07 | .78 | .85 | (.06 | ) | — | (.06 | ) | 10.79 | 8.51 | 8 | 34 | .27 | 8 | .23 | 8 | .58 | 8 | .66 | 8 | |||||||||||||||||||||||||||||||||||
| 50 | American Funds Portfolio Series |
Balanced Portfolio
| Income (loss) from investment operations1 | Dividends and distributions | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Period ended | Net asset value, beginning of period | Net investment income | Net gains (losses) on securities (both realized and unrealized) | Total from investment operations | Dividends (from net investment income) | Distri- butions (from capital gains) | Total dividends and distributions | Net asset value, end of period | Total return2,3 | Net assets, end of period (in millions) | Ratio of expenses to average net assets before reimburse- ments/ waivers4 | Ratio of expenses to average net assets after reimburse- ments/ waivers3,4 | Net effective expense ratio3,5 | Ratio of net income to average net assets3 | ||||||||||||||||||||||||||||||||||||||||||
| Class 529-B: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | $ | 13.39 | $ | .06 | $ | .02 | $ | .08 | $ | (.06 | ) | $ | (.27 | ) | $ | (.33 | ) | $ | 13.14 | .61 | %8 | $ | — | 12 | 1.29 | %9 | 1.25 | %9 | 1.63 | %9 | .91 | %9 | ||||||||||||||||||||||||
| 10/31/15 | 13.29 | .09 | .16 | .25 | (.06 | ) | (.09 | ) | (.15 | ) | 13.39 | 1.89 | 1 | 1.31 | 1.21 | 1.59 | .66 | |||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 12.41 | .11 | .87 | .98 | (.10 | ) | — | (.10 | ) | 13.29 | 7.96 | 1 | 1.32 | 1.22 | 1.56 | .87 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.78 | .11 | 1.63 | 1.74 | (.11 | ) | — | (.11 | ) | 12.41 | 16.23 | 1 | 1.34 | 1.24 | 1.58 | .91 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .04 | .78 | .82 | (.04 | ) | — | (.04 | ) | 10.78 | 8.25 | 8 | — | 12 | .59 | 8 | .54 | 8 | .89 | 8 | .38 | 8 | ||||||||||||||||||||||||||||||||||
| Class 529-C: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 13.35 | .06 | .02 | .08 | (.07 | ) | (.27 | ) | (.34 | ) | 13.09 | .62 | 8 | 97 | 1.26 | 9 | 1.23 | 9 | 1.61 | 9 | .89 | 9 | ||||||||||||||||||||||||||||||||||
| 10/31/15 | 13.27 | .09 | .16 | .25 | (.08 | ) | (.09 | ) | (.17 | ) | 13.35 | 1.84 | 92 | 1.30 | 1.20 | 1.58 | .64 | |||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 12.40 | .10 | .89 | .99 | (.12 | ) | — | (.12 | ) | 13.27 | 7.98 | 75 | 1.31 | 1.21 | 1.55 | .78 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.78 | .11 | 1.63 | 1.74 | (.12 | ) | — | (.12 | ) | 12.40 | 16.26 | 44 | 1.33 | 1.23 | 1.57 | .91 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .04 | .78 | .82 | (.04 | ) | — | (.04 | ) | 10.78 | 8.25 | 8 | 14 | .59 | 8 | .55 | 8 | .90 | 8 | .33 | 8 | |||||||||||||||||||||||||||||||||||
| Class 529-E: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 13.39 | .09 | .02 | .11 | (.10 | ) | (.27 | ) | (.37 | ) | 13.13 | .89 | 8 | 9 | .72 | 9 | .68 | 9 | 1.06 | 9 | 1.44 | 9 | ||||||||||||||||||||||||||||||||||
| 10/31/15 | 13.30 | .16 | .17 | .33 | (.15 | ) | (.09 | ) | (.24 | ) | 13.39 | 2.43 | 7 | .77 | .67 | 1.05 | 1.16 | |||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 12.42 | .17 | .89 | 1.06 | (.18 | ) | — | (.18 | ) | 13.30 | 8.56 | 5 | .78 | .68 | 1.02 | 1.31 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.79 | .17 | 1.63 | 1.80 | (.17 | ) | — | (.17 | ) | 12.42 | 16.89 | 3 | .80 | .70 | 1.04 | 1.44 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .06 | .79 | .85 | (.06 | ) | — | (.06 | ) | 10.79 | 8.49 | 8 | 1 | .35 | 8 | .30 | 8 | .65 | 8 | .61 | 8 | |||||||||||||||||||||||||||||||||||
| Class 529-F-1: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 13.42 | .12 | .02 | .14 | (.13 | ) | (.27 | ) | (.40 | ) | 13.16 | 1.11 | 8 | 20 | .26 | 9 | .22 | 9 | .60 | 9 | 1.89 | 9 | ||||||||||||||||||||||||||||||||||
| 10/31/15 | 13.33 | .22 | .16 | .38 | (.20 | ) | (.09 | ) | (.29 | ) | 13.42 | 2.89 | 17 | .30 | .20 | .58 | 1.64 | |||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 12.44 | .24 | .89 | 1.13 | �� | (.24 | ) | — | (.24 | ) | 13.33 | 9.12 | 12 | .30 | .20 | .54 | 1.83 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.80 | .24 | 1.62 | 1.86 | (.22 | ) | — | (.22 | ) | 12.44 | 17.45 | 9 | .32 | .22 | .56 | 2.03 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .09 | .77 | .86 | (.06 | ) | — | (.06 | ) | 10.80 | 8.67 | 8 | 1 | .14 | 8 | .09 | 8 | .44 | 8 | .85 | 8 | |||||||||||||||||||||||||||||||||||
| Class R-1: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 13.36 | .06 | .02 | .08 | (.07 | ) | (.27 | ) | (.34 | ) | 13.10 | .65 | 8 | 10 | 1.18 | 9 | 1.15 | 9 | 1.53 | 9 | .97 | 9 | ||||||||||||||||||||||||||||||||||
| 10/31/15 | 13.27 | .09 | .18 | .27 | (.09 | ) | (.09 | ) | (.18 | ) | 13.36 | 1.99 | 9 | 1.22 | 1.12 | 1.50 | .70 | |||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 12.40 | .12 | .87 | .99 | (.12 | ) | — | (.12 | ) | 13.27 | 8.06 | 7 | 1.23 | 1.13 | 1.47 | .89 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.78 | .11 | 1.64 | 1.75 | (.13 | ) | — | (.13 | ) | 12.40 | 16.40 | 4 | 1.24 | 1.14 | 1.48 | .95 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .04 | .79 | .83 | (.05 | ) | — | (.05 | ) | 10.78 | 8.32 | 8 | 1 | .55 | 8 | .50 | 8 | .85 | 8 | .36 | 8 | |||||||||||||||||||||||||||||||||||
| Class R-2: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 13.35 | .06 | .02 | .08 | (.07 | ) | (.27 | ) | (.34 | ) | 13.09 | .66 | 8 | 66 | 1.20 | 9 | 1.17 | 9 | 1.55 | 9 | .92 | 9 | ||||||||||||||||||||||||||||||||||
| 10/31/15 | 13.27 | .09 | .17 | .26 | (.09 | ) | (.09 | ) | (.18 | ) | 13.35 | 1.92 | 54 | 1.24 | 1.14 | 1.52 | .67 | |||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 12.40 | .10 | .89 | .99 | (.12 | ) | — | (.12 | ) | 13.27 | 8.04 | 36 | 1.28 | 1.18 | 1.52 | .79 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.79 | .11 | 1.64 | 1.75 | (.14 | ) | — | (.14 | ) | 12.40 | 16.33 | 15 | 1.25 | 1.15 | 1.49 | .90 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .04 | .81 | .85 | (.06 | ) | — | (.06 | ) | 10.79 | 8.50 | 8 | 3 | .48 | 8 | .44 | 8 | .79 | 8 | .40 | 8 | |||||||||||||||||||||||||||||||||||
See page 61 for footnotes.
| American Funds Portfolio Series | 51 |
Financial highlights (continued)
Balanced Portfolio
| Income (loss) from investment operations1 | Dividends and distributions | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Period ended | Net asset value, beginning of period | Net investment income | Net gains (losses) on securities (both realized and unrealized) | Total from investment operations | Dividends (from net investment income) | Distri- butions (from capital gains) | Total dividends and distributions | Net asset value, end of period | Total return2,3 | Net assets, end of period (in millions) | Ratio of expenses to average net assets before reimburse- ments/ waivers4 | Ratio of expenses to average net assets after reimburse- ments/ waivers3,4 | Net effective expense ratio3,5 | Ratio of net income to average net assets3 | ||||||||||||||||||||||||||||||||||||||||||
| Class R-2E: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | $ | 13.40 | $ | .04 | $ | .07 | $ | .11 | $ | (.11 | ) | $ | (.27 | ) | $ | (.38 | ) | $ | 13.13 | .91 | %8 | $ | 2 | .76 | %9 | .76 | %9 | 1.14 | %9 | .56 | %9 | |||||||||||||||||||||||||
| 10/31/15 | 13.31 | .22 | .16 | .38 | (.20 | ) | (.09 | ) | (.29 | ) | 13.40 | 2.82 | 13 | — | 12 | .35 | 13 | .25 | 13 | .63 | 13 | 1.61 | 13 | |||||||||||||||||||||||||||||||||
| 10/31/147,14 | 13.37 | .04 | (.05 | ) | (.01 | ) | (.05 | ) | — | (.05 | ) | 13.31 | (.10 | )8,13 | — | 12 | .06 | 8,13 | .04 | 8,13 | .38 | 8,13 | .31 | 8,13 | ||||||||||||||||||||||||||||||||
| Class R-3: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 13.38 | .09 | .02 | .11 | (.10 | ) | (.27 | ) | (.37 | ) | 13.12 | .88 | 8 | 70 | .74 | 9 | .70 | 9 | 1.08 | 9 | 1.42 | 9 | ||||||||||||||||||||||||||||||||||
| 10/31/15 | 13.30 | .15 | .17 | .32 | (.15 | ) | (.09 | ) | (.24 | ) | 13.38 | 2.38 | 63 | .78 | .68 | 1.06 | 1.15 | |||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 12.42 | .16 | .90 | 1.06 | (.18 | ) | — | (.18 | ) | 13.30 | 8.56 | 35 | .81 | .71 | 1.05 | 1.27 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.79 | .16 | 1.64 | 1.80 | (.17 | ) | — | (.17 | ) | 12.42 | 16.86 | 18 | .80 | .70 | 1.04 | 1.36 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .10 | .75 | .85 | (.06 | ) | — | (.06 | ) | 10.79 | 8.53 | 8 | 5 | .31 | 8 | .26 | 8 | .61 | 8 | .89 | 8 | |||||||||||||||||||||||||||||||||||
| Class R-4: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 13.41 | .11 | .02 | .13 | (.12 | ) | (.27 | ) | (.39 | ) | 13.15 | 1.04 | 8 | 68 | .41 | 9 | .38 | 9 | .76 | 9 | 1.76 | 9 | ||||||||||||||||||||||||||||||||||
| 10/31/15 | 13.32 | .19 | .17 | .36 | (.18 | ) | (.09 | ) | (.27 | ) | 13.41 | 2.72 | 53 | .46 | .36 | .74 | 1.45 | |||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 12.44 | .21 | .89 | 1.10 | (.22 | ) | — | (.22 | ) | 13.32 | 8.88 | 40 | .47 | .37 | .71 | 1.61 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.80 | .20 | 1.65 | 1.85 | (.21 | ) | — | (.21 | ) | 12.44 | 17.33 | 24 | .43 | .33 | .67 | 1.71 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .10 | .76 | .86 | (.06 | ) | — | (.06 | ) | 10.80 | 8.61 | 8 | 1 | .20 | 8 | .15 | 8 | .50 | 8 | .92 | 8 | |||||||||||||||||||||||||||||||||||
| Class R-5E: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7,15 | 13.44 | .12 | (.01 | ) | .11 | (.13 | ) | (.27 | ) | (.40 | ) | 13.15 | .92 | 8 | — | 12 | .12 | 8 | .11 | 8 | .49 | 8 | .94 | 8 | ||||||||||||||||||||||||||||||||
| Class R-5: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 13.43 | .13 | .02 | .15 | (.14 | ) | (.27 | ) | (.41 | ) | 13.17 | 1.17 | 8 | 12 | .12 | 9 | .09 | 9 | .47 | 9 | 2.03 | 9 | ||||||||||||||||||||||||||||||||||
| 10/31/15 | 13.34 | .24 | .16 | .40 | (.22 | ) | (.09 | ) | (.31 | ) | 13.43 | 3.00 | 11 | .17 | .07 | .45 | 1.78 | |||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 12.45 | .27 | .87 | 1.14 | (.25 | ) | — | (.25 | ) | 13.34 | 9.24 | 9 | .19 | .09 | .43 | 2.06 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.81 | .24 | 1.63 | 1.87 | (.23 | ) | — | (.23 | ) | 12.45 | 17.56 | 15 | .18 | .08 | .42 | 2.06 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .09 | .79 | .88 | (.07 | ) | — | (.07 | ) | 10.81 | 8.80 | 8 | 7 | .08 | 8 | .03 | 8 | .38 | 8 | .83 | 8 | |||||||||||||||||||||||||||||||||||
| Class R-6: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 13.43 | .13 | .02 | .15 | (.14 | ) | (.27 | ) | (.41 | ) | 13.17 | 1.20 | 8 | 94 | .07 | 9 | .04 | 9 | .42 | 9 | 2.02 | 9 | ||||||||||||||||||||||||||||||||||
| 10/31/15 | 13.34 | .24 | .17 | .41 | (.23 | ) | (.09 | ) | (.32 | ) | 13.43 | 3.05 | 73 | .12 | .02 | .40 | 1.77 | |||||||||||||||||||||||||||||||||||||||
| 10/31/14 | 12.45 | .25 | .90 | 1.15 | (.26 | ) | — | (.26 | ) | 13.34 | 9.29 | 39 | .13 | .03 | .37 | 1.89 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.81 | .24 | 1.64 | 1.88 | (.24 | ) | — | (.24 | ) | 12.45 | 17.57 | 10 | .14 | .04 | .38 | 2.01 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .10 | .77 | .87 | (.06 | ) | — | (.06 | ) | 10.81 | 8.77 | 8 | — | 12 | .13 | 8 | .08 | 8 | .43 | 8 | .93 | 8 | ||||||||||||||||||||||||||||||||||
| 52 | American Funds Portfolio Series |
Income Portfolio
| Income (loss) from investment operations1 | Dividends and distributions | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Period ended | Net asset value, beginning of period | Net investment income | Net gains (losses) on securities (both realized and unrealized) | Total from investment operations | Dividends (from net investment income) | Distri- butions (from capital gains) | Total dividends and distributions | Net asset value, end of period | Total return2,3 | Net assets, end of period (in millions) | Ratio of expenses to average net assets before reimburse- ments/ waivers4 | Ratio of expenses to average net assets after reimburse- ments/ waivers3,4 | Net effective expense ratio3,5 | Ratio of net income to average net assets3 | ||||||||||||||||||||||||||||||||||||||||||
| Class A: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | $ | 11.55 | $ | .18 | $ | .10 | $ | .28 | $ | (.22 | ) | $ | (.05 | ) | $ | (.27 | ) | $ | 11.56 | 2.49 | %8 | $ | 2,437 | .40 | %9 | .36 | %9 | .66 | %9 | 3.26 | %9 | |||||||||||||||||||||||||
| 10/31/15 | 11.98 | .40 | (.42 | ) | (.02 | ) | (.37 | ) | (.04 | ) | (.41 | ) | 11.55 | (.18 | ) | 2,265 | .44 | .34 | .64 | 3.35 | ||||||||||||||||||||||||||||||||||||
| 10/31/14 | 11.46 | .37 | .53 | .90 | (.37 | ) | (.01 | ) | (.38 | ) | 11.98 | 7.94 | 1,766 | .45 | .35 | .66 | 3.18 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.57 | .36 | .90 | 1.26 | (.37 | ) | — | (.37 | ) | 11.46 | 12.19 | 1,067 | .48 | .38 | .68 | 3.28 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .16 | .52 | .68 | (.11 | ) | — | (.11 | ) | 10.57 | 6.84 | 8 | 307 | .23 | 8 | .18 | 8 | .49 | 8 | 1.54 | 8 | |||||||||||||||||||||||||||||||||||
| Class B: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 11.53 | .13 | .11 | .24 | (.17 | ) | (.05 | ) | (.22 | ) | 11.55 | 2.11 | 8 | 2 | 1.19 | 9 | 1.15 | 9 | 1.45 | 9 | 2.39 | 9 | ||||||||||||||||||||||||||||||||||
| 10/31/15 | 11.96 | .31 | (.43 | ) | (.12 | ) | (.27 | ) | (.04 | ) | (.31 | ) | 11.53 | (1.02 | ) | 4 | 1.22 | 1.12 | 1.42 | 2.59 | ||||||||||||||||||||||||||||||||||||
| 10/31/14 | 11.43 | .28 | .53 | .81 | (.27 | ) | (.01 | ) | (.28 | ) | 11.96 | 7.17 | 6 | 1.23 | 1.13 | 1.44 | 2.40 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.55 | .28 | .90 | 1.18 | (.30 | ) | — | (.30 | ) | 11.43 | 11.35 | 6 | 1.25 | 1.15 | 1.45 | 2.51 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .13 | .51 | .64 | (.09 | ) | — | (.09 | ) | 10.55 | 6.47 | 8 | 2 | .55 | 8 | .50 | 8 | .81 | 8 | 1.26 | 8 | |||||||||||||||||||||||||||||||||||
| Class C: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 11.49 | .14 | .10 | .24 | (.18 | ) | (.05 | ) | (.23 | ) | 11.50 | 2.12 | 8 | 583 | 1.17 | 9 | 1.14 | 9 | 1.44 | 9 | 2.48 | 9 | ||||||||||||||||||||||||||||||||||
| 10/31/15 | 11.93 | .30 | (.41 | ) | (.11 | ) | (.29 | ) | (.04 | ) | (.33 | ) | 11.49 | (.98 | ) | 529 | 1.21 | 1.11 | 1.41 | 2.57 | ||||||||||||||||||||||||||||||||||||
| 10/31/14 | 11.41 | .28 | .54 | .82 | (.29 | ) | (.01 | ) | (.30 | ) | 11.93 | 7.19 | 381 | 1.22 | 1.12 | 1.43 | 2.41 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.54 | .28 | .90 | 1.18 | (.31 | ) | — | (.31 | ) | 11.41 | 11.35 | 214 | 1.23 | 1.13 | 1.43 | 2.51 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .12 | .52 | .64 | (.10 | ) | — | (.10 | ) | 10.54 | 6.41 | 8 | 58 | .54 | 8 | .50 | 8 | .81 | 8 | 1.20 | 8 | |||||||||||||||||||||||||||||||||||
| Class F-1: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 11.55 | .18 | .10 | .28 | (.22 | ) | (.05 | ) | (.27 | ) | 11.56 | 2.47 | 8 | 79 | .44 | 9 | .41 | 9 | .71 | 9 | 3.22 | 9 | ||||||||||||||||||||||||||||||||||
| 10/31/15 | 11.99 | .39 | (.42 | ) | (.03 | ) | (.37 | ) | (.04 | ) | (.41 | ) | 11.55 | (.30 | ) | 72 | .48 | .38 | .68 | 3.32 | ||||||||||||||||||||||||||||||||||||
| 10/31/14 | 11.46 | .37 | .53 | .90 | (.36 | ) | (.01 | ) | (.37 | ) | 11.99 | 7.97 | 62 | .49 | .39 | .70 | 3.15 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.57 | .37 | .89 | 1.26 | (.37 | ) | — | (.37 | ) | 11.46 | 12.17 | 42 | .51 | .41 | .71 | 3.31 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .16 | .52 | .68 | (.11 | ) | — | (.11 | ) | 10.57 | 6.85 | 8 | 18 | .20 | 8 | .16 | 8 | .47 | 8 | 1.50 | 8 | |||||||||||||||||||||||||||||||||||
| Class F-2: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 11.56 | .21 | .08 | .29 | (.23 | ) | (.05 | ) | (.28 | ) | 11.57 | 2.61 | 8 | 112 | .18 | 9 | .15 | 9 | .45 | 9 | 3.80 | 9 | ||||||||||||||||||||||||||||||||||
| 10/31/15 | 12.00 | .42 | (.42 | ) | — | (.40 | ) | (.04 | ) | (.44 | ) | 11.56 | (.06 | ) | 77 | .24 | .14 | .44 | 3.56 | |||||||||||||||||||||||||||||||||||||
| 10/31/14 | 11.46 | .40 | .54 | .94 | (.39 | ) | (.01 | ) | (.40 | ) | 12.00 | 8.32 | 59 | .23 | .13 | .44 | 3.39 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.57 | .39 | .90 | 1.29 | (.40 | ) | — | (.40 | ) | 11.46 | 12.44 | 36 | .25 | .15 | .45 | 3.50 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .17 | .52 | .69 | (.12 | ) | — | (.12 | ) | 10.57 | 6.90 | 8 | 10 | .09 | 8 | .04 | 8 | .35 | 8 | 1.61 | 8 | |||||||||||||||||||||||||||||||||||
| Class 529-A: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 11.54 | .18 | .10 | .28 | (.21 | ) | (.05 | ) | (.26 | ) | 11.56 | 2.52 | 8 | 74 | .49 | 9 | .45 | 9 | .75 | 9 | 3.17 | 9 | ||||||||||||||||||||||||||||||||||
| 10/31/15 | 11.98 | .38 | (.42 | ) | (.04 | ) | (.36 | ) | (.04 | ) | (.40 | ) | 11.54 | (.35 | ) | 71 | .55 | .45 | .75 | 3.25 | ||||||||||||||||||||||||||||||||||||
| 10/31/14 | 11.45 | .36 | .54 | .90 | (.36 | ) | (.01 | ) | (.37 | ) | 11.98 | 7.94 | 62 | .53 | .43 | .74 | 3.11 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.56 | .35 | .91 | 1.26 | (.37 | ) | — | (.37 | ) | 11.45 | 12.14 | 39 | .55 | .45 | .75 | 3.20 | ||||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .16 | .51 | .67 | (.11 | ) | — | (.11 | ) | 10.56 | 6.72 | 8 | 13 | .25 | 8 | .20 | 8 | .51 | 8 | 1.56 | 8 | |||||||||||||||||||||||||||||||||||
See page 61 for footnotes.
| American Funds Portfolio Series | 53 |
Financial highlights (continued)
Income Portfolio
| Income (loss) from investment operations1 | Dividends and distributions | Ratio of | Ratio of | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Period ended | Net asset value, beginning of period | Net investment income | Net gains (losses) on securities (both realized and unrealized) | Total from investment operations | Dividends (from net investment income) | Distri- butions (from capital gains) | Total dividends and distributions | Net asset value, end of period | Total return2,3 | Net assets, end of period (in millions) | expenses to average net assets before reimburse- ments/ waivers4 | expenses to average net assets after reimburse- ments/ waivers3,4 | Net effective expense ratio3,5 | Ratio of net income to average net assets3 | |||||||||||||||||||||||||||||||||||||||||
| Class 529-B: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | $ | 11.53 | $ | .13 | $ | .10 | $ | .23 | $ | (.16 | ) | $ | (.05 | ) | $ | (.21 | ) | $ | 11.55 | 2.07 | %8 | $ | — | 12 | 1.26 | %9 | 1.22 | %9 | 1.52 | %9 | 2.34 | %9 | |||||||||||||||||||||||
| 10/31/15 | 11.96 | .30 | (.43 | ) | (.13 | ) | (.26 | ) | (.04 | ) | (.30 | ) | 11.53 | (1.11 | ) | — | 12 | 1.31 | 1.21 | 1.51 | 2.51 | ||||||||||||||||||||||||||||||||||
| 10/31/14 | 11.43 | .27 | .54 | .81 | (.27 | ) | (.01 | ) | (.28 | ) | 11.96 | 7.10 | 1 | 1.32 | 1.22 | 1.53 | 2.34 | ||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.55 | .27 | .90 | 1.17 | (.29 | ) | — | (.29 | ) | 11.43 | 11.23 | 1 | 1.34 | 1.24 | 1.54 | 2.45 | |||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .12 | .53 | .65 | (.10 | ) | — | (.10 | ) | 10.55 | 6.50 | 8 | — | 12 | .58 | 8 | .53 | 8 | .84 | 8 | 1.12 | 8 | |||||||||||||||||||||||||||||||||
| Class 529-C: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 11.50 | .13 | .10 | .23 | (.17 | ) | (.05 | ) | (.22 | ) | 11.51 | 2.06 | 8 | 45 | 1.26 | 9 | 1.23 | 9 | 1.53 | 9 | 2.38 | 9 | |||||||||||||||||||||||||||||||||
| 10/31/15 | 11.93 | .29 | (.41 | ) | (.12 | ) | (.27 | ) | (.04 | ) | (.31 | ) | 11.50 | (1.01 | ) | 45 | 1.30 | 1.20 | 1.50 | 2.49 | |||||||||||||||||||||||||||||||||||
| 10/31/14 | 11.41 | .27 | .53 | .80 | (.27 | ) | (.01 | ) | (.28 | ) | 11.93 | 7.06 | 40 | 1.31 | 1.21 | 1.52 | 2.33 | ||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.54 | .27 | .89 | 1.16 | (.29 | ) | — | (.29 | ) | 11.41 | 11.23 | 29 | 1.33 | 1.23 | 1.53 | 2.42 | |||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .13 | .51 | .64 | (.10 | ) | — | (.10 | ) | 10.54 | 6.41 | 8 | 9 | .59 | 8 | .54 | 8 | .85 | 8 | 1.20 | 8 | ||||||||||||||||||||||||||||||||||
| Class 529-E: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 11.53 | .16 | .11 | .27 | (.20 | ) | (.05 | ) | (.25 | ) | 11.55 | 2.41 | 8 | 6 | .72 | 9 | .68 | 9 | .98 | 9 | 2.92 | 9 | |||||||||||||||||||||||||||||||||
| 10/31/15 | 11.97 | .35 | (.41 | ) | (.06 | ) | (.34 | ) | (.04 | ) | (.38 | ) | 11.53 | (.56 | ) | 6 | .77 | .67 | .97 | 3.00 | |||||||||||||||||||||||||||||||||||
| 10/31/14 | 11.44 | .34 | .53 | .87 | (.33 | ) | (.01 | ) | (.34 | ) | 11.97 | 7.70 | 5 | .78 | .68 | .99 | 2.86 | ||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.56 | .33 | .89 | 1.22 | (.34 | ) | — | (.34 | ) | 11.44 | 11.80 | 3 | .80 | .70 | 1.00 | 2.98 | |||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .15 | .52 | .67 | (.11 | ) | — | (.11 | ) | 10.56 | 6.69 | 8 | 1 | .35 | 8 | .30 | 8 | .61 | 8 | 1.47 | 8 | ||||||||||||||||||||||||||||||||||
| Class 529-F-1: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 11.55 | .19 | .11 | .30 | (.23 | ) | (.05 | ) | (.28 | ) | 11.57 | 2.65 | 8 | 8 | .25 | 9 | .22 | 9 | .52 | 9 | 3.42 | 9 | |||||||||||||||||||||||||||||||||
| 10/31/15 | 11.99 | .41 | (.42 | ) | (.01 | ) | (.39 | ) | (.04 | ) | (.43 | ) | 11.55 | (.11 | ) | 6 | .30 | .20 | .50 | 3.50 | |||||||||||||||||||||||||||||||||||
| 10/31/14 | 11.46 | .40 | .52 | .92 | (.38 | ) | (.01 | ) | (.39 | ) | 11.99 | 8.16 | 4 | .30 | .20 | .51 | 3.36 | ||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.57 | .39 | .89 | 1.28 | (.39 | ) | — | (.39 | ) | 11.46 | 12.36 | 2 | .33 | .23 | .53 | 3.54 | |||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .17 | .52 | .69 | (.12 | ) | — | (.12 | ) | 10.57 | 6.89 | 8 | — | 12 | .14 | 8 | .09 | 8 | .40 | 8 | 1.63 | 8 | |||||||||||||||||||||||||||||||||
| Class R-1: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 11.50 | .14 | .09 | .23 | (.17 | ) | (.05 | ) | (.22 | ) | 11.51 | 2.10 | 8 | 2 | 1.18 | 9 | 1.15 | 9 | 1.45 | 9 | 2.44 | 9 | |||||||||||||||||||||||||||||||||
| 10/31/15 | 11.94 | .30 | (.42 | ) | (.12 | ) | (.28 | ) | (.04 | ) | (.32 | ) | 11.50 | (1.03 | ) | 1 | 1.22 | 1.12 | 1.42 | 2.56 | |||||||||||||||||||||||||||||||||||
| 10/31/14 | 11.42 | .27 | .55 | .82 | (.29 | ) | (.01 | ) | (.30 | ) | 11.94 | 7.20 | 2 | 1.23 | 1.13 | 1.44 | 2.34 | ||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.55 | .28 | .90 | 1.18 | (.31 | ) | — | (.31 | ) | 11.42 | 11.36 | 1 | �� | 1.23 | 1.13 | 1.43 | 2.57 | ||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .17 | .49 | .66 | (.11 | ) | — | (.11 | ) | 10.55 | 6.59 | 8 | — | 12 | .48 | 8 | .43 | 8 | .74 | 8 | 1.63 | 8 | |||||||||||||||||||||||||||||||||
| Class R-2: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 11.50 | .14 | .09 | .23 | (.17 | ) | (.05 | ) | (.22 | ) | 11.51 | 2.11 | 8 | 24 | 1.22 | 9 | 1.18 | 9 | 1.48 | 9 | 2.44 | 9 | |||||||||||||||||||||||||||||||||
| 10/31/15 | 11.94 | .30 | (.41 | ) | (.11 | ) | (.29 | ) | (.04 | ) | (.33 | ) | 11.50 | (.99 | ) | 22 | 1.24 | 1.14 | 1.44 | 2.55 | |||||||||||||||||||||||||||||||||||
| 10/31/14 | 11.42 | .27 | .54 | .81 | (.28 | ) | (.01 | ) | (.29 | ) | 11.94 | 7.10 | 15 | 1.29 | 1.19 | 1.50 | 2.35 | ||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.56 | .27 | .90 | 1.17 | (.31 | ) | — | (.31 | ) | 11.42 | 11.26 | 10 | 1.25 | 1.15 | 1.45 | 2.44 | |||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .13 | .53 | .66 | (.10 | ) | — | (.10 | ) | 10.56 | 6.67 | 8 | 2 | .50 | 8 | .45 | 8 | .76 | 8 | 1.28 | 8 | ||||||||||||||||||||||||||||||||||
| 54 | American Funds Portfolio Series |
Income Portfolio
| Income (loss) from investment operations1 | Dividends and distributions | Ratio of | Ratio of | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Period ended | Net asset value, beginning of period | Net investment income | Net gains (losses) on securities (both realized and unrealized) | Total from investment operations | Dividends (from net investment income) | Distri- butions (from capital gains) | Total dividends and distributions | Net asset value, end of period | Total return2,3 | Net assets, end of period (in millions) | expenses to average net assets before reimburse- ments/ waivers4 | expenses to average net assets after reimburse- ments/ waivers3,4 | Net effective expense ratio3,5 | Ratio of net income to average net assets3 | |||||||||||||||||||||||||||||||||||||||||
| Class R-2E: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | $ | 11.54 | $ | .19 | $ | .10 | $ | .29 | $ | (.22 | ) | $ | (.05 | ) | $ | (.27 | ) | $ | 11.56 | 2.65 | %8,13 | $ | — | 12 | .23 | %9,13 | .18 | %9,13 | .48 | %9,13 | 3.45 | %9,13 | |||||||||||||||||||||||
| 10/31/15 | 11.98 | .41 | (.43 | ) | (.02 | ) | (.38 | ) | (.04 | ) | (.42 | ) | 11.54 | (.18 | )13 | — | 12 | .36 | 13 | .25 | 13 | .55 | 13 | 3.46 | 13 | ||||||||||||||||||||||||||||||
| 10/31/147,14 | 12.07 | .08 | (.07 | ) | .01 | (.10 | ) | — | (.10 | ) | 11.98 | .07 | 8,13 | — | 12 | .06 | 8,13 | .04 | 8,13 | .35 | 8,13 | .69 | 8,13 | ||||||||||||||||||||||||||||||||
| Class R-3: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 11.53 | .16 | .10 | .26 | (.20 | ) | (.05 | ) | (.25 | ) | 11.54 | 2.33 | 8 | 20 | .73 | 9 | .70 | 9 | 1.00 | 9 | 2.94 | 9 | |||||||||||||||||||||||||||||||||
| 10/31/15 | 11.97 | .35 | (.41 | ) | (.06 | ) | (.34 | ) | (.04 | ) | (.38 | ) | 11.53 | (.56 | ) | 18 | .78 | .68 | .98 | 2.99 | |||||||||||||||||||||||||||||||||||
| 10/31/14 | 11.45 | .33 | .53 | .86 | (.33 | ) | (.01 | ) | (.34 | ) | 11.97 | 7.58 | 11 | .81 | .71 | 1.02 | 2.84 | ||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.56 | .31 | .92 | 1.23 | (.34 | ) | — | (.34 | ) | 11.45 | 11.86 | 6 | .81 | .71 | 1.01 | 2.83 | |||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .19 | .48 | .67 | (.11 | ) | — | (.11 | ) | 10.56 | 6.75 | 8 | 2 | .31 | 8 | .26 | 8 | .57 | 8 | 1.85 | 8 | ||||||||||||||||||||||||||||||||||
| Class R-4: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 11.55 | .18 | .10 | .28 | (.22 | ) | (.05 | ) | (.27 | ) | 11.56 | 2.50 | 8 | 27 | .41 | 9 | .38 | 9 | .68 | 9 | 3.21 | 9 | |||||||||||||||||||||||||||||||||
| 10/31/15 | 11.99 | .38 | (.41 | ) | (.03 | ) | (.37 | ) | (.04 | ) | (.41 | ) | 11.55 | (.27 | ) | 19 | .46 | .36 | .66 | 3.26 | |||||||||||||||||||||||||||||||||||
| 10/31/14 | 11.46 | .36 | .55 | .91 | (.37 | ) | (.01 | ) | (.38 | ) | 11.99 | 7.99 | 10 | .47 | .37 | .68 | 3.05 | ||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.57 | .37 | .90 | 1.27 | (.38 | ) | — | (.38 | ) | 11.46 | 12.24 | 6 | .45 | .35 | .65 | 3.37 | |||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .23 | .46 | .69 | (.12 | ) | — | (.12 | ) | 10.57 | 6.89 | 8 | 1 | .18 | 8 | .14 | 8 | .45 | 8 | 2.21 | 8 | ||||||||||||||||||||||||||||||||||
| Class R-5E: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7,15 | 11.47 | .18 | .19 | .37 | (.23 | ) | (.05 | ) | (.28 | ) | 11.56 | 3.31 | 8 | — | 12 | .12 | 8 | .11 | 8 | .41 | 8 | 1.61 | 8 | ||||||||||||||||||||||||||||||||
| Class R-5: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 11.57 | .19 | .10 | .29 | (.23 | ) | (.05 | ) | (.28 | ) | 11.58 | 2.62 | 8 | 4 | .12 | 9 | .09 | 9 | .39 | 9 | 3.43 | 9 | |||||||||||||||||||||||||||||||||
| 10/31/15 | 12.00 | .42 | (.41 | ) | .01 | (.40 | ) | (.04 | ) | (.44 | ) | 11.57 | .09 | 3 | .18 | .08 | .38 | 3.58 | |||||||||||||||||||||||||||||||||||||
| 10/31/14 | 11.47 | .42 | .51 | .93 | (.39 | ) | (.01 | ) | (.40 | ) | 12.00 | 8.24 | 2 | .19 | .09 | .40 | 3.58 | ||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.57 | .39 | .91 | 1.30 | (.40 | ) | — | (.40 | ) | 11.47 | 12.58 | 9 | .19 | .09 | .39 | 3.54 | |||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .17 | .52 | .69 | (.12 | ) | — | (.12 | ) | 10.57 | 6.91 | 8 | 5 | .08 | 8 | .03 | 8 | .34 | 8 | 1.68 | 8 | ||||||||||||||||||||||||||||||||||
| Class R-6: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 11.56 | .20 | .11 | .31 | (.24 | ) | (.05 | ) | (.29 | ) | 11.58 | 2.74 | 8 | 21 | .07 | 9 | .04 | 9 | .34 | 9 | 3.58 | 9 | |||||||||||||||||||||||||||||||||
| 10/31/15 | 12.00 | .43 | (.42 | ) | .01 | (.41 | ) | (.04 | ) | (.45 | ) | 11.56 | .05 | 17 | .13 | .03 | .33 | 3.64 | |||||||||||||||||||||||||||||||||||||
| 10/31/14 | 11.47 | .41 | .53 | .94 | (.40 | ) | (.01 | ) | (.41 | ) | 12.00 | 8.33 | 12 | .13 | .03 | .34 | 3.48 | ||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.57 | .37 | .93 | 1.30 | (.40 | ) | — | (.40 | ) | 11.47 | 12.57 | 2 | .13 | .03 | .33 | 3.29 | |||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .19 | .50 | .69 | (.12 | ) | — | (.12 | ) | 10.57 | 6.89 | 8 | — | 12 | .14 | 8 | .09 | 8 | .40 | 8 | 1.79 | 8 | |||||||||||||||||||||||||||||||||
See page 61 for footnotes.
| American Funds Portfolio Series | 55 |
Financial highlights (continued)
Tax-Advantaged Income Portfolio
| Income from investment operations1 | Dividends and distributions | Ratio of | Ratio of | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Period ended | Net asset value, beginning of period | Net investment income | Net gains (losses) on securities (both realized and unrealized) | Total from investment operations | Dividends (from net investment income) | Distri- butions (from capital gains) | Total dividends and distributions | Net asset value, end of period | Total return2,3 | Net assets, end of period (in millions) | expenses to average net assets before reimburse- ments/ waivers4 | expenses to average net assets after reimburse- ments/ waivers3,4 | Net effective expense ratio3,5 | Ratio of net income to average net assets3 | |||||||||||||||||||||||||||||||||||||||||
| Class A: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | $ | 12.40 | $ | .17 | $ | .10 | $ | .27 | $ | (.17 | ) | $ | (.08 | ) | $ | (.25 | ) | $ | 12.42 | 2.22 | %8 | $ | 756 | .48 | %9 | .45 | %9 | .81 | %9 | 2.76 | %9 | ||||||||||||||||||||||||
| 10/31/15 | 12.48 | .34 | (.07 | ) | .27 | (.32 | ) | (.03 | ) | (.35 | ) | 12.40 | 2.22 | 649 | .53 | .43 | .79 | 2.74 | |||||||||||||||||||||||||||||||||||||
| 10/31/14 | 11.54 | .34 | .94 | 1.28 | (.34 | ) | — | (.34 | ) | 12.48 | 11.25 | 413 | .54 | .44 | .81 | 2.85 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.66 | .33 | .86 | 1.19 | (.30 | ) | (.01 | ) | (.31 | ) | 11.54 | 11.28 | 220 | .55 | .45 | .82 | 2.93 | ||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .15 | .62 | .77 | (.11 | ) | — | (.11 | ) | 10.66 | 7.73 | 8 | 66 | .24 | 8 | .19 | 8 | .55 | 8 | 1.45 | 8 | ||||||||||||||||||||||||||||||||||
| Class B: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 12.40 | .12 | .11 | .23 | (.11 | ) | (.08 | ) | (.19 | ) | 12.44 | 1.88 | 8 | — | 12 | 1.21 | 9 | 1.17 | 9 | 1.53 | 9 | 1.90 | 9 | ||||||||||||||||||||||||||||||||
| 10/31/15 | 12.47 | .25 | (.07 | ) | .18 | (.22 | ) | (.03 | ) | (.25 | ) | 12.40 | 1.45 | — | 12 | 1.23 | 1.13 | 1.49 | 2.01 | ||||||||||||||||||||||||||||||||||||
| 10/31/14 | 11.52 | .26 | .94 | 1.20 | (.25 | ) | — | (.25 | ) | 12.47 | 10.55 | — | 12 | 1.25 | 1.15 | 1.52 | 2.16 | ||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.66 | .25 | .85 | 1.10 | (.23 | ) | (.01 | ) | (.24 | ) | 11.52 | 10.38 | — | 12 | 1.28 | 1.18 | 1.55 | 2.24 | |||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .12 | .63 | .75 | (.09 | ) | — | (.09 | ) | 10.66 | 7.51 | 8 | — | 12 | .52 | 8 | .48 | 8 | .84 | 8 | 1.20 | 8 | |||||||||||||||||||||||||||||||||
| Class C: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 12.34 | .12 | .11 | .23 | (.13 | ) | (.08 | ) | (.21 | ) | 12.36 | 1.90 | 8 | 125 | 1.18 | 9 | 1.15 | 9 | 1.51 | 9 | 2.06 | 9 | |||||||||||||||||||||||||||||||||
| 10/31/15 | 12.43 | .25 | (.06 | ) | .19 | (.25 | ) | (.03 | ) | (.28 | ) | 12.34 | 1.50 | 101 | 1.23 | 1.13 | 1.49 | 2.04 | |||||||||||||||||||||||||||||||||||||
| 10/31/14 | 11.50 | .26 | .93 | 1.19 | (.26 | ) | — | (.26 | ) | 12.43 | 10.49 | 60 | 1.24 | 1.14 | 1.51 | 2.14 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.64 | .25 | .85 | 1.10 | (.23 | ) | (.01 | ) | (.24 | ) | 11.50 | 10.45 | 27 | 1.27 | 1.17 | 1.54 | 2.21 | ||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .11 | .63 | .74 | (.10 | ) | — | (.10 | ) | 10.64 | 7.43 | 8 | 8 | .55 | 8 | .50 | 8 | .86 | 8 | 1.01 | 8 | ||||||||||||||||||||||||||||||||||
| Class F-1: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 12.40 | .17 | .10 | .27 | (.17 | ) | (.08 | ) | (.25 | ) | 12.42 | 2.24 | 8 | 32 | .44 | 9 | .41 | 9 | .77 | 9 | 2.77 | 9 | |||||||||||||||||||||||||||||||||
| 10/31/15 | 12.48 | .34 | (.06 | ) | .28 | (.33 | ) | (.03 | ) | (.36 | ) | 12.40 | 2.24 | 22 | .50 | .40 | .76 | 2.76 | |||||||||||||||||||||||||||||||||||||
| 10/31/14 | 11.54 | .35 | .93 | 1.28 | (.34 | ) | — | (.34 | ) | 12.48 | 11.25 | 16 | .51 | .41 | .78 | 2.91 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.66 | .33 | .86 | 1.19 | (.30 | ) | (.01 | ) | (.31 | ) | 11.54 | 11.31 | 11 | .53 | .43 | .80 | 2.92 | ||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .14 | .63 | .77 | (.11 | ) | — | (.11 | ) | 10.66 | 7.79 | 8 | 3 | .19 | 8 | .15 | 8 | .51 | 8 | 1.30 | 8 | ||||||||||||||||||||||||||||||||||
| Class F-2: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 12.42 | .18 | .10 | .28 | (.18 | ) | (.08 | ) | (.26 | ) | 12.44 | 2.36 | 8 | 46 | .19 | 9 | .16 | 9 | .52 | 9 | 3.05 | 9 | |||||||||||||||||||||||||||||||||
| 10/31/15 | 12.50 | .37 | (.06 | ) | .31 | (.36 | ) | (.03 | ) | (.39 | ) | 12.42 | 2.49 | 34 | .25 | .15 | .51 | 3.01 | |||||||||||||||||||||||||||||||||||||
| 10/31/14 | 11.54 | .37 | .96 | 1.33 | (.37 | ) | — | (.37 | ) | 12.50 | 11.71 | 18 | .24 | .14 | .51 | 3.09 | |||||||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.67 | .36 | .85 | 1.21 | (.33 | ) | (.01 | ) | (.34 | ) | 11.54 | 11.46 | 6 | .28 | .18 | .55 | 3.21 | ||||||||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .15 | .64 | .79 | (.12 | ) | — | (.12 | ) | 10.67 | 7.92 | 8 | 1 | .10 | 8 | .05 | 8 | .41 | 8 | 1.48 | 8 | ||||||||||||||||||||||||||||||||||
| 56 | American Funds Portfolio Series |
Preservation Portfolio
| Income (loss) from investment operations1 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Period ended | Net asset value, beginning of period | Net investment income | Net gains (losses) on securities (both realized and unrealized) | Total from investment operations | Dividends (from net investment income) | Net asset value, end of period | Total return2,3 | Net assets, end of period (in millions) | Ratio of expenses to average net assets before reimbursements/ waivers4 | Ratio of expenses to average net assets after reimbursements/ waivers3,4 | Net effective expense ratio3,5 | Ratio of net income to average net assets3 | ||||||||||||||||||||||||||||||||||||
| Class A: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | $ | 9.95 | $ | .05 | $ | .07 | $ | .12 | $ | (.05 | ) | $ | 10.02 | 1.23 | %8 | $ | 691 | .48 | %9 | .45 | %9 | .75 | %9 | .93 | %9 | |||||||||||||||||||||||
| 10/31/15 | 9.95 | .11 | — | 11 | .11 | (.11 | ) | 9.95 | 1.08 | 582 | .51 | .41 | .71 | 1.09 | ||||||||||||||||||||||||||||||||||
| 10/31/14 | 9.91 | .10 | .04 | .14 | (.10 | ) | 9.95 | 1.44 | 436 | .50 | .39 | .69 | 1.01 | |||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.08 | .11 | (.17 | ) | (.06 | ) | (.11 | ) | 9.91 | (.59 | ) | 333 | .53 | .41 | .71 | 1.13 | ||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .06 | .07 | .13 | (.05 | ) | 10.08 | 1.26 | 8 | 163 | .23 | 8 | .19 | 8 | .50 | 8 | .60 | 8 | ||||||||||||||||||||||||||||||
| Class B: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 9.95 | .01 | .07 | .08 | (.01 | ) | 10.02 | .85 | 8 | 1 | 1.21 | 9 | 1.17 | 9 | 1.47 | 9 | .21 | 9 | ||||||||||||||||||||||||||||||
| 10/31/15 | 9.95 | .03 | — | 11 | .03 | (.03 | ) | 9.95 | .35 | 1 | 1.24 | 1.14 | 1.44 | .33 | ||||||||||||||||||||||||||||||||||
| 10/31/14 | 9.91 | .03 | .03 | .06 | (.02 | ) | 9.95 | .64 | 2 | 1.26 | 1.15 | 1.45 | .28 | |||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.08 | .04 | (.17 | ) | (.13 | ) | (.04 | ) | 9.91 | (1.32 | ) | 2 | 1.28 | 1.17 | 1.47 | .38 | ||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .03 | .07 | .10 | (.02 | ) | 10.08 | .97 | 8 | 2 | .55 | 8 | .51 | 8 | .82 | 8 | .28 | 8 | ||||||||||||||||||||||||||||||
| Class C: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 9.93 | .01 | .08 | .09 | (.02 | ) | 10.00 | .89 | 8 | 161 | 1.19 | 9 | 1.16 | 9 | 1.46 | 9 | .22 | 9 | ||||||||||||||||||||||||||||||
| 10/31/15 | 9.94 | .04 | (.01 | ) | .03 | (.04 | ) | 9.93 | .28 | 130 | 1.23 | 1.13 | 1.43 | .36 | ||||||||||||||||||||||||||||||||||
| 10/31/14 | 9.90 | .03 | .04 | .07 | (.03 | ) | 9.94 | .68 | 93 | 1.25 | 1.14 | 1.44 | .27 | |||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.07 | .04 | (.17 | ) | (.13 | ) | (.04 | ) | 9.90 | (1.29 | ) | 67 | 1.27 | 1.15 | 1.45 | .39 | ||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .03 | .06 | .09 | (.02 | ) | 10.07 | .93 | 8 | 33 | .55 | 8 | .50 | 8 | .81 | 8 | .28 | 8 | ||||||||||||||||||||||||||||||
| Class F-1: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 9.95 | .05 | .07 | .12 | (.05 | ) | 10.02 | 1.24 | 8 | 23 | .45 | 9 | .42 | 9 | .72 | 9 | .95 | 9 | ||||||||||||||||||||||||||||||
| 10/31/15 | 9.96 | .11 | (.01 | ) | .10 | (.11 | ) | 9.95 | 1.00 | 20 | .50 | .40 | .70 | 1.11 | ||||||||||||||||||||||||||||||||||
| 10/31/14 | 9.91 | .10 | .05 | .15 | (.10 | ) | 9.96 | 1.51 | 9 | .51 | .41 | .71 | 1.00 | |||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.08 | .11 | (.17 | ) | (.06 | ) | (.11 | ) | 9.91 | (.61 | ) | 6 | .54 | .42 | .72 | 1.13 | ||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .06 | .07 | .13 | (.05 | ) | 10.08 | 1.33 | 8 | 7 | .20 | 8 | .15 | 8 | .46 | 8 | .63 | 8 | ||||||||||||||||||||||||||||||
| Class F-2: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 9.95 | .06 | .08 | .14 | (.07 | ) | 10.02 | 1.37 | 8 | 33 | .20 | 9 | .17 | 9 | .47 | 9 | 1.20 | 9 | ||||||||||||||||||||||||||||||
| 10/31/15 | 9.95 | .13 | — | 11 | .13 | (.13 | ) | 9.95 | 1.33 | 21 | .25 | .15 | .45 | 1.34 | ||||||||||||||||||||||||||||||||||
| 10/31/14 | 9.91 | .12 | .04 | .16 | (.12 | ) | 9.95 | 1.67 | 12 | .25 | .15 | .45 | 1.25 | |||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.08 | .14 | (.17 | ) | (.03 | ) | (.14 | ) | 9.91 | (.34 | ) | 6 | .28 | .17 | .47 | 1.37 | ||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .07 | .07 | .14 | (.06 | ) | 10.08 | 1.40 | 8 | 3 | .10 | 8 | .05 | 8 | .36 | 8 | .74 | 8 | ||||||||||||||||||||||||||||||
| Class 529-A: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 9.94 | .05 | .08 | .13 | (.05 | ) | 10.02 | 1.32 | 8 | 67 | .50 | 9 | .46 | 9 | .76 | 9 | .91 | 9 | ||||||||||||||||||||||||||||||
| 10/31/15 | 9.95 | .10 | (.01 | ) | .09 | (.10 | ) | 9.94 | .93 | 56 | .57 | .47 | .77 | 1.03 | ||||||||||||||||||||||||||||||||||
| 10/31/14 | 9.91 | .09 | .04 | .13 | (.09 | ) | 9.95 | 1.36 | 44 | .56 | .45 | .75 | .96 | |||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.08 | .11 | (.17 | ) | (.06 | ) | (.11 | ) | 9.91 | (.61 | ) | 33 | .56 | .44 | .74 | 1.09 | ||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .06 | .06 | .12 | (.04 | ) | 10.08 | 1.25 | 8 | 17 | .26 | 8 | .22 | 8 | .53 | 8 | .57 | 8 | ||||||||||||||||||||||||||||||
See page 61 for footnotes.
| American Funds Portfolio Series | 57 |
Financial highlights (continued)
Preservation Portfolio
| Income (loss) from investment operations1 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Period ended | Net asset value, beginning of period | Net investment income | Net gains (losses) on securities (both realized and unrealized) | Total from investment operations | Dividends (from net investment income) | Net asset value, end of period | Total return2,3 | Net assets, end of period (in millions) | Ratio of expenses to average net assets before reimbursements/ waivers4 | Ratio of expenses to average net assets after reimbursements/ waivers3,4 | Net effective expense ratio3,5 | Ratio of net income to average net assets3 | ||||||||||||||||||||||||||||||||||||
| Class 529-B: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | $ | 9.95 | $ | .01 | $ | .07 | $ | .08 | $ | (.01 | ) | $ | 10.02 | .80 | %8 | $ | — | 12 | 1.31 | %9 | 1.27 | %9 | 1.57 | %9 | .13 | %9 | ||||||||||||||||||||||
| 10/31/15 | 9.96 | .03 | (.01 | ) | .02 | (.03 | ) | 9.95 | .17 | — | 12 | 1.33 | 1.23 | 1.53 | .26 | |||||||||||||||||||||||||||||||||
| 10/31/14 | 9.92 | .02 | .04 | .06 | (.02 | ) | 9.96 | .56 | — | 12 | 1.34 | 1.23 | 1.53 | .20 | ||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.08 | .03 | (.16 | ) | (.13 | ) | (.03 | ) | 9.92 | (1.33 | ) | — | 12 | 1.38 | 1.26 | 1.56 | .29 | |||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .02 | .07 | .09 | (.01 | ) | 10.08 | .89 | 8 | 1 | .59 | 8 | .55 | 8 | .86 | 8 | .25 | 8 | ||||||||||||||||||||||||||||||
| Class 529-C: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 9.94 | .01 | .07 | .08 | (.01 | ) | 10.01 | .84 | 8 | 29 | 1.28 | 9 | 1.25 | 9 | 1.55 | 9 | .13 | 9 | ||||||||||||||||||||||||||||||
| 10/31/15 | 9.95 | .03 | (.01 | ) | .02 | (.03 | ) | 9.94 | .19 | 25 | 1.32 | 1.22 | 1.52 | .27 | ||||||||||||||||||||||||||||||||||
| 10/31/14 | 9.91 | .02 | .04 | .06 | (.02 | ) | 9.95 | .60 | 22 | 1.34 | 1.23 | 1.53 | .18 | |||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.08 | .03 | (.17 | ) | (.14 | ) | (.03 | ) | 9.91 | (1.38 | ) | 17 | 1.37 | 1.25 | 1.55 | .29 | ||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .02 | .07 | .09 | (.01 | ) | 10.08 | .93 | 8 | 9 | .60 | 8 | .55 | 8 | .86 | 8 | .24 | 8 | ||||||||||||||||||||||||||||||
| Class 529-E: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 9.94 | .03 | .08 | .11 | (.04 | ) | 10.01 | 1.11 | 8 | 3 | .74 | 9 | .71 | 9 | 1.01 | 9 | .67 | 9 | ||||||||||||||||||||||||||||||
| 10/31/15 | 9.95 | .08 | (.01 | ) | .07 | (.08 | ) | 9.94 | .70 | 3 | .79 | .69 | .99 | .81 | ||||||||||||||||||||||||||||||||||
| 10/31/14 | 9.91 | .07 | .04 | .11 | (.07 | ) | 9.95 | 1.12 | 2 | .80 | .70 | 1.00 | .71 | |||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.07 | .08 | (.16 | ) | (.08 | ) | (.08 | ) | 9.91 | (.78 | ) | 2 | .83 | .71 | 1.01 | .83 | ||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .05 | .06 | .11 | (.04 | ) | 10.07 | 1.13 | 8 | 1 | .35 | 8 | .31 | 8 | .62 | 8 | .47 | 8 | ||||||||||||||||||||||||||||||
| Class 529-F-1: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 9.94 | .06 | .08 | .14 | (.06 | ) | 10.02 | 1.43 | 8 | 12 | .28 | 9 | .25 | 9 | .55 | 9 | 1.13 | 9 | ||||||||||||||||||||||||||||||
| 10/31/15 | 9.95 | .13 | (.01 | ) | .12 | (.13 | ) | 9.94 | 1.17 | 10 | .32 | .22 | .52 | 1.28 | ||||||||||||||||||||||||||||||||||
| 10/31/14 | 9.91 | .12 | .04 | .16 | (.12 | ) | 9.95 | 1.59 | 8 | .33 | .22 | .52 | 1.18 | |||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.08 | .13 | (.17 | ) | (.04 | ) | (.13 | ) | 9.91 | (.40 | ) | 6 | .35 | .24 | .54 | 1.28 | ||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .07 | .07 | .14 | (.06 | ) | 10.08 | 1.37 | 8 | 1 | .14 | 8 | .10 | 8 | .41 | 8 | .68 | 8 | ||||||||||||||||||||||||||||||
| Class R-1: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 9.94 | .01 | .08 | .09 | (.02 | ) | 10.01 | .90 | 8 | 2 | 1.19 | 9 | 1.17 | 9 | 1.47 | 9 | .20 | 9 | ||||||||||||||||||||||||||||||
| 10/31/15 | 9.95 | .04 | (.01 | ) | .03 | (.04 | ) | 9.94 | .28 | 1 | 1.24 | 1.14 | 1.44 | .37 | ||||||||||||||||||||||||||||||||||
| 10/31/14 | 9.91 | .02 | .05 | .07 | (.03 | ) | 9.95 | .66 | 1 | 1.26 | 1.15 | 1.45 | .25 | |||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.08 | .04 | (.17 | ) | (.13 | ) | (.04 | ) | 9.91 | (1.32 | ) | 1 | 1.27 | 1.15 | 1.45 | .39 | ||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .03 | .10 | .13 | (.05 | ) | 10.08 | 1.30 | 8 | — | 12 | .45 | 8 | .41 | 8 | .72 | 8 | .35 | 8 | |||||||||||||||||||||||||||||
| Class R-2: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 9.93 | .01 | .08 | .09 | (.02 | ) | 10.00 | .86 | 8 | 16 | 1.249 | 1.20 | 9 | 1.50 | 9 | .17 | 9 | |||||||||||||||||||||||||||||||
| 10/31/15 | 9.94 | .04 | (.01 | ) | .03 | (.04 | ) | 9.93 | .28 | 14 | 1.25 | 1.15 | 1.45 | .36 | ||||||||||||||||||||||||||||||||||
| 10/31/14 | 9.90 | .02 | .04 | .06 | (.02 | ) | 9.94 | .62 | 8 | 1.33 | 1.22 | 1.52 | .19 | |||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.07 | .04 | (.17 | ) | (.13 | ) | (.04 | ) | 9.90 | (1.30 | ) | 6 | 1.29 | 1.17 | 1.47 | .36 | ||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .03 | .08 | .11 | (.04 | ) | 10.07 | 1.11 | 8 | 1 | .47 | 8 | .42 | 8 | .73 | 8 | .33 | 8 | ||||||||||||||||||||||||||||||
| 58 | American Funds Portfolio Series |
Preservation Portfolio
| Income (loss) from investment operations1 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Period ended | Net asset value, beginning of period | Net investment income | Net gains (losses) on securities (both realized and unrealized) | Total from investment operations | Dividends (from net investment income) | Net asset value, end of period | Total return2,3 | Net assets, end of period (in millions) | Ratio of expenses to average net assets before reimbursements/ waivers4 | Ratio of expenses to average net assets after reimbursements/ waivers3,4 | Net effective expense ratio3,5 | Ratio of net income to average net assets3 | ||||||||||||||||||||||||||||||||||||
| Class R-2E: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | $ | 9.95 | $ | .03 | $ | .08 | $ | .11 | $ | (.04 | ) | $ | 10.02 | 1.14 | %8 | $ | — | 12 | .78 | %9 | .75 | %9 | 1.05 | %9 | .66 | %9 | ||||||||||||||||||||||
| 10/31/15 | 9.96 | .12 | (.01 | ) | .11 | (.12 | ) | 9.95 | 1.12 | 13 | — | 12 | .38 | 13 | .27 | 13 | .57 | 13 | 1.22 | 13 | ||||||||||||||||||||||||||||
| 10/31/147,14 | 9.96 | .02 | — | 11 | .02 | (.02 | ) | 9.96 | .16 | 8,13 | — | 12 | .06 | 8,13 | .04 | 8,13 | .34 | 8,13 | .17 | 8,13 | ||||||||||||||||||||||||||||
| Class R-3: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 9.94 | .03 | .08 | .11 | (.04 | ) | 10.01 | 1.10 | 8 | 15 | .76 | 9 | .73 | 9 | 1.03 | 9 | .65 | 9 | ||||||||||||||||||||||||||||||
| 10/31/15 | 9.95 | .08 | (.01 | ) | .07 | (.08 | ) | 9.94 | .70 | 13 | .80 | .70 | 1.00 | .80 | ||||||||||||||||||||||||||||||||||
| 10/31/14 | 9.91 | .07 | .04 | .11 | (.07 | ) | 9.95 | 1.09 | 7 | .84 | .73 | 1.03 | .67 | |||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.08 | .08 | (.17 | ) | (.09 | ) | (.08 | ) | 9.91 | (.85 | ) | 5 | .83 | .72 | 1.02 | .80 | ||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .05 | .07 | .12 | (.04 | ) | 10.08 | 1.19 | 8 | — | 12 | .33 | 8 | .29 | 8 | .60 | 8 | .51 | 8 | |||||||||||||||||||||||||||||
| Class R-4: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 9.95 | .05 | .07 | .12 | (.05 | ) | 10.02 | 1.26 | 8 | 8 | .44 | 9 | .41 | 9 | .71 | 9 | .97 | 9 | ||||||||||||||||||||||||||||||
| 10/31/15 | 9.96 | .11 | (.01 | ) | .10 | (.11 | ) | 9.95 | 1.01 | 6 | .48 | .38 | .68 | 1.13 | ||||||||||||||||||||||||||||||||||
| 10/31/14 | 9.92 | .10 | .04 | .14 | (.10 | ) | 9.96 | 1.43 | 3 | .49 | .39 | .69 | 1.03 | |||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.08 | .12 | (.17 | ) | (.05 | ) | (.11 | ) | 9.92 | (.45 | ) | 1 | .49 | .38 | .68 | 1.16 | ||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .06 | .08 | .14 | (.06 | ) | 10.08 | 1.36 | 8 | — | 12 | .17 | 8 | .13 | 8 | .44 | 8 | .63 | 8 | |||||||||||||||||||||||||||||
| Class R-5E: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7,15 | 9.91 | .05 | .12 | .17 | (.05 | ) | 10.03 | 1.75 | 8 | — | 12 | .13 | 8 | .12 | 8 | .42 | 8 | .49 | 8 | |||||||||||||||||||||||||||||
| Class R-5: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 9.95 | .06 | .08 | .14 | (.07 | ) | 10.02 | 1.39 | 8 | 1 | .15 | 9 | .12 | 9 | .42 | 9 | 1.26 | 9 | ||||||||||||||||||||||||||||||
| 10/31/15 | 9.96 | .14 | (.01 | ) | .13 | (.14 | ) | 9.95 | 1.28 | 1 | .20 | .10 | .40 | 1.40 | ||||||||||||||||||||||||||||||||||
| 10/31/14 | 9.91 | .14 | .04 | .18 | (.13 | ) | 9.96 | 1.78 | 1 | .22 | .11 | .41 | 1.35 | |||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.08 | .14 | (.17 | ) | (.03 | ) | (.14 | ) | 9.91 | (.28 | ) | 4 | .22 | .10 | .40 | 1.44 | ||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .07 | .07 | .14 | (.06 | ) | 10.08 | 1.42 | 8 | 3 | .08 | 8 | .04 | 8 | .35 | 8 | .75 | 8 | ||||||||||||||||||||||||||||||
| Class R-6: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 9.95 | .06 | .08 | .14 | (.07 | ) | 10.02 | 1.42 | 8 | 9 | .10 | 9 | .06 | 9 | .36 | 9 | 1.31 | 9 | ||||||||||||||||||||||||||||||
| 10/31/15 | 9.96 | .14 | (.01 | ) | .13 | (.14 | ) | 9.95 | 1.34 | 7 | .15 | .05 | .35 | 1.45 | ||||||||||||||||||||||||||||||||||
| 10/31/14 | 9.91 | .13 | .05 | .18 | (.13 | ) | 9.96 | 1.76 | 6 | .14 | .04 | .34 | 1.31 | |||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.08 | .15 | (.18 | ) | (.03 | ) | (.14 | ) | 9.91 | (.16 | ) | — | 12 | .20 | .08 | .38 | 1.45 | |||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .07 | .06 | .13 | (.05 | ) | 10.08 | 1.34 | 8 | — | 12 | .13 | 8 | .08 | 8 | .39 | 8 | .72 | 8 | |||||||||||||||||||||||||||||
See page 61 for footnotes.
| American Funds Portfolio Series | 59 |
Financial highlights (continued)
Tax-Exempt Preservation Portfolio
| Income (loss) from investment operations1 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Period ended | Net asset value, beginning of period | Net investment income | Net gains (losses) on securities (both realized and unrealized) | Total from investment operations | Dividends (from net investment income) | Net asset value, end of period | Total return2,3 | Net assets, end of period (in millions) | Ratio of expenses to average net assets before reimbursements/ waivers4 | Ratio of expenses to average net assets after reimbursements/ waivers3,4 | Net effective expense ratio3,5 | Ratio of net income to average net assets3 | ||||||||||||||||||||||||||||||||||||
| Class A: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | $ | 9.91 | $ | .11 | $ | .07 | $ | .18 | $ | (.11 | ) | $ | 9.98 | 1.81 | %8 | $ | 267 | .52 | %9 | .45 | %9 | .75 | %9 | 2.27 | %9 | |||||||||||||||||||||||
| 10/31/15 | 9.99 | .24 | (.09 | ) | .15 | (.23 | ) | 9.91 | 1.55 | 223 | .55 | .44 | .75 | 2.43 | ||||||||||||||||||||||||||||||||||
| 10/31/14 | 9.81 | .26 | .18 | .44 | (.26 | ) | 9.99 | 4.50 | 159 | .56 | .44 | .75 | 2.59 | |||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.11 | .25 | (.30 | ) | (.05 | ) | (.25 | ) | 9.81 | (.48 | ) | 123 | .58 | .45 | .76 | 2.54 | ||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .12 | .09 | .21 | (.10 | ) | 10.11 | 2.10 | 8 | 72 | .24 | 8 | .19 | 8 | .50 | 8 | 1.22 | 8 | ||||||||||||||||||||||||||||||
| Class B: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 9.92 | .08 | .07 | .15 | (.07 | ) | 10.00 | 1.54 | 8 | — | 12 | 1.23 | 9 | 1.16 | 9 | 1.46 | 9 | 1.57 | 9 | |||||||||||||||||||||||||||||
| 10/31/15 | 10.00 | .17 | (.09 | ) | .08 | (.16 | ) | 9.92 | .81 | — | 12 | 1.26 | 1.15 | 1.46 | 1.72 | |||||||||||||||||||||||||||||||||
| 10/31/14 | 9.82 | .19 | .17 | .36 | (.18 | ) | 10.00 | 3.74 | — | 12 | 1.27 | 1.15 | 1.46 | 1.91 | ||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.12 | .18 | (.30 | ) | (.12 | ) | (.18 | ) | 9.82 | (1.21 | ) | — | 12 | 1.29 | 1.16 | 1.47 | 1.83 | |||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .09 | .09 | .18 | (.06 | ) | 10.12 | 1.84 | 8 | — | 12 | .53 | 8 | .49 | 8 | .80 | 8 | .92 | 8 | |||||||||||||||||||||||||||||
| Class C: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 9.89 | .08 | .08 | .16 | (.08 | ) | 9.97 | 1.57 | 8 | 59 | 1.22 | 9 | 1.16 | 9 | 1.46 | 9 | 1.57 | 9 | ||||||||||||||||||||||||||||||
| 10/31/15 | 9.98 | .17 | (.09 | ) | .08 | (.17 | ) | 9.89 | .76 | 51 | 1.25 | 1.14 | 1.45 | 1.73 | ||||||||||||||||||||||||||||||||||
| 10/31/14 | 9.80 | .19 | .18 | .37 | (.19 | ) | 9.98 | 3.79 | 42 | 1.26 | 1.14 | 1.45 | 1.90 | |||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.10 | .18 | (.30 | ) | (.12 | ) | (.18 | ) | 9.80 | (1.17 | ) | 39 | 1.28 | 1.15 | 1.46 | 1.85 | ||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .09 | .09 | .18 | (.08 | ) | 10.10 | 1.77 | 8 | 22 | .55 | 8 | .51 | 8 | .82 | 8 | .89 | 8 | ||||||||||||||||||||||||||||||
| Class F-1: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 9.91 | .11 | .08 | .19 | (.11 | ) | 9.99 | 1.94 | 8 | 8 | .47 | 9 | .41 | 9 | .71 | 9 | 2.31 | 9 | ||||||||||||||||||||||||||||||
| 10/31/15 | 9.99 | .24 | (.08 | ) | .16 | (.24 | ) | 9.91 | 1.58 | 5 | .52 | .41 | .72 | 2.46 | ||||||||||||||||||||||||||||||||||
| 10/31/14 | 9.81 | .26 | .18 | .44 | (.26 | ) | 9.99 | 4.54 | 4 | .52 | .40 | .71 | 2.64 | |||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.11 | .26 | (.31 | ) | (.05 | ) | (.25 | ) | 9.81 | (.49 | ) | 5 | .56 | .42 | .73 | 2.56 | ||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .12 | .09 | .21 | (.10 | ) | 10.11 | 2.13 | 8 | 9 | .20 | 8 | .16 | 8 | .47 | 8 | 1.24 | 8 | ||||||||||||||||||||||||||||||
| Class F-2: | ||||||||||||||||||||||||||||||||||||||||||||||||
| 4/30/166,7 | 9.91 | .13 | .06 | .19 | (.12 | ) | 9.98 | 1.96 | 8 | 32 | .23 | 9 | .16 | 9 | .46 | 9 | 2.56 | 9 | ||||||||||||||||||||||||||||||
| 10/31/15 | 9.99 | .27 | (.09 | ) | .18 | (.26 | ) | 9.91 | 1.83 | 24 | .27 | .16 | .47 | 2.71 | ||||||||||||||||||||||||||||||||||
| 10/31/14 | 9.81 | .29 | .18 | .47 | (.29 | ) | 9.99 | 4.81 | 11 | .26 | .15 | .46 | 2.89 | |||||||||||||||||||||||||||||||||||
| 10/31/13 | 10.11 | .28 | (.30 | ) | (.02 | ) | (.28 | ) | 9.81 | (.22 | ) | 8 | .30 | .16 | .47 | 2.82 | ||||||||||||||||||||||||||||||||
| 10/31/127,10 | 10.00 | .13 | .09 | .22 | (.11 | ) | 10.11 | 2.25 | 8 | 12 | .10 | 8 | .05 | 8 | .36 | 8 | 1.34 | 8 | ||||||||||||||||||||||||||||||
| 60 | American Funds Portfolio Series |
| Six months ended | Period ended October 31 | |||||||||||||||||||
| Portfolio turnover rate for all share classes | April 30, 20166,7,8 | 2015 | 2014 | 2013 | 20127,8,10,16 | |||||||||||||||
| Global Growth Portfolio | — | %17 | 2 | % | — | %17 | — | %17 | 40 | % | ||||||||||
| Growth Portfolio | — | 17 | — | 17 | — | 17 | — | 17 | 24 | |||||||||||
| Growth and Income Portfolio | — | 17 | — | 17 | — | 17 | — | 17 | 7 | |||||||||||
| Balanced Portfolio | — | 17 | 13 | — | 17 | — | 17 | 9 | ||||||||||||
| Income Portfolio | 8 | — | 17 | — | 17 | — | 17 | 7 | ||||||||||||
| Tax-Advantaged Income Portfolio | — | 17 | 1 | 1 | 2 | 16 | 45 | |||||||||||||
| Preservation Portfolio | 1 | 2 | 5 | 11 | 16 | 16 | ||||||||||||||
| Tax-Exempt Preservation Portfolio | 4 | 8 | 14 | 28 | 16 | 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. During some of the periods shown, CRMC also reimbursed other fees and expenses for Preservation Portfolio and Tax-Exempt Preservation Portfolio. |
| 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 62 to 70 for further information regarding fees and expenses. |
| 6 | Unaudited. |
| 7 | Based on operations for the period shown and, accordingly, is not representative of a full year. |
| 8 | Not annualized. |
| 9 | Annualized. |
| 10 | For the period May 18, 2012, commencement of operations, through October 31, 2012. |
| 11 | Amount less than $.01. |
| 12 | Amount less than $1 million. |
| 13 | All or a significant portion of assets in this class consisted of seed capital invested by CRMC and/or its affiliates. Fees for distribution services are not charged or accrued on these seed capital assets. If such fees were paid by the fund on seed capital assets, fund expenses would have been higher and net income and total return would have been lower. |
| 14 | Class R-2E shares were offered beginning August 29, 2014. |
| 15 | Class R-5E shares were offered beginning November 20, 2015. |
| 16 | Portfolio turnover rates reflect the redemption (or removal) of CRMC’s initial capital investment, without which the portfolio turnover rates would have been lower. |
| 17 | Amount is either less than 1% or there is no turnover. |
See Notes to Financial Statements
| American Funds Portfolio Series | 61 |
| Expense example | unaudited |
As a fund shareholder, you incur two types of costs: (1) transaction costs, such as initial sales charges on purchase payments and contingent deferred sales charges on redemptions (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 fund so you can compare these costs with the ongoing costs of investing in other mutual funds. The examples are based on an investment of $1,000 invested at the beginning of the period and held for the entire six-month period (November 1, 2015, through April 30, 2016).
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 fund 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:
Retirement plan participants may be subject to certain fees charged by the plan sponsor, and Class F-1 and F-2 shareholders may be subject to fees charged by financial intermediaries, typically ranging from 0.75% to 1.50% of assets annually depending on services offered. 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 be lower by the amount of these fees.
Note that the expenses shown in the tables on the following pages 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.
| 62 | American Funds Portfolio Series |
Global Growth Portfolio
| Beginning | Ending | Expenses | Effective | Effective | ||||||||||||||||||||
| account value | account value | paid during | Annualized | expenses paid | annualized | |||||||||||||||||||
| 11/1/2015 | 4/30/2016 | period1,2 | expense ratio2 | during period3 | expense ratio4 | |||||||||||||||||||
| Class A – actual return | $ | 1,000.00 | $ | 980.07 | $ | 1.72 | .35 | % | $ | 4.14 | .84 | % | ||||||||||||
| Class A – assumed 5% return | 1,000.00 | 1,023.12 | 1.76 | .35 | 4.22 | .84 | ||||||||||||||||||
| Class B – actual return | 1,000.00 | 975.88 | 5.70 | 1.16 | 8.11 | 1.65 | ||||||||||||||||||
| Class B – assumed 5% return | 1,000.00 | 1,019.10 | 5.82 | 1.16 | 8.27 | 1.65 | ||||||||||||||||||
| Class C – actual return | 1,000.00 | 975.36 | 5.65 | 1.15 | 8.05 | 1.64 | ||||||||||||||||||
| Class C – assumed 5% return | 1,000.00 | 1,019.14 | 5.77 | 1.15 | 8.22 | 1.64 | ||||||||||||||||||
| Class F-1 – actual return | 1,000.00 | 979.29 | 2.07 | .42 | 4.48 | .91 | ||||||||||||||||||
| Class F-1 – assumed 5% return | 1,000.00 | 1,022.77 | 2.11 | .42 | 4.57 | .91 | ||||||||||||||||||
| Class F-2 – actual return | 1,000.00 | 980.70 | .79 | .16 | 3.20 | .65 | ||||||||||||||||||
| Class F-2 – assumed 5% return | 1,000.00 | 1,024.07 | .81 | .16 | 3.27 | .65 | ||||||||||||||||||
| Class 529-A – actual return | 1,000.00 | 979.40 | 2.07 | .42 | 4.48 | .91 | ||||||||||||||||||
| Class 529-A – assumed 5% return | 1,000.00 | 1,022.77 | 2.11 | .42 | 4.57 | .91 | ||||||||||||||||||
| Class 529-B – actual return | 1,000.00 | 975.14 | 6.19 | 1.26 | 8.59 | 1.75 | ||||||||||||||||||
| Class 529-B – assumed 5% return | 1,000.00 | 1,018.60 | 6.32 | 1.26 | 8.77 | 1.75 | ||||||||||||||||||
| Class 529-C – actual return | 1,000.00 | 975.37 | 6.09 | 1.24 | 8.50 | 1.73 | ||||||||||||||||||
| Class 529-C – assumed 5% return | 1,000.00 | 1,018.70 | 6.22 | 1.24 | 8.67 | 1.73 | ||||||||||||||||||
| Class 529-E – actual return | 1,000.00 | 978.01 | 3.39 | .69 | 5.80 | 1.18 | ||||||||||||||||||
| Class 529-E – assumed 5% return | 1,000.00 | 1,021.43 | 3.47 | .69 | 5.92 | 1.18 | ||||||||||||||||||
| Class 529-F-1 – actual return | 1,000.00 | 980.56 | 1.18 | .24 | 3.59 | .73 | ||||||||||||||||||
| Class 529-F-1 – assumed 5% return | 1,000.00 | 1,023.67 | 1.21 | .24 | 3.67 | .73 | ||||||||||||||||||
| Class R-1 – actual return | 1,000.00 | 975.81 | 5.65 | 1.15 | 8.06 | 1.64 | ||||||||||||||||||
| Class R-1 – assumed 5% return | 1,000.00 | 1,019.14 | 5.77 | 1.15 | 8.22 | 1.64 | ||||||||||||||||||
| Class R-2 – actual return | 1,000.00 | 975.69 | 5.85 | 1.19 | 8.25 | 1.68 | ||||||||||||||||||
| Class R-2 – assumed 5% return | 1,000.00 | 1,018.95 | 5.97 | 1.19 | 8.42 | 1.68 | ||||||||||||||||||
| Class R-2E – actual return | 1,000.00 | 979.84 | 1.23 | .25 | 3.64 | .74 | ||||||||||||||||||
| Class R-2E – assumed 5% return | 1,000.00 | 1,023.62 | 1.26 | .25 | 3.72 | .74 | ||||||||||||||||||
| Class R-3 – actual return | 1,000.00 | 977.43 | 3.54 | .72 | 5.95 | 1.21 | ||||||||||||||||||
| Class R-3 – assumed 5% return | 1,000.00 | 1,021.28 | 3.62 | .72 | 6.07 | 1.21 | ||||||||||||||||||
| Class R-4 – actual return | 1,000.00 | 979.53 | 1.92 | .39 | 4.33 | .88 | ||||||||||||||||||
| Class R-4 – assumed 5% return | 1,000.00 | 1,022.92 | 1.96 | .39 | 4.42 | .88 | ||||||||||||||||||
| Class R-5E – actual return5 | 1,000.00 | 971.34 | 1.13 | .26 | 3.27 | .75 | ||||||||||||||||||
| Class R-5E – assumed 5% return5 | 1,000.00 | 1,023.57 | 1.31 | .26 | 3.77 | .75 | ||||||||||||||||||
| Class R-5 – actual return | 1,000.00 | 980.58 | .49 | .10 | 2.91 | .59 | ||||||||||||||||||
| Class R-5 – assumed 5% return | 1,000.00 | 1,024.37 | .50 | .10 | 2.97 | .59 | ||||||||||||||||||
| Class R-6 – actual return | 1,000.00 | 981.00 | .25 | .05 | 2.66 | .54 | ||||||||||||||||||
| Class R-6 – assumed 5% return | 1,000.00 | 1,024.61 | .25 | .05 | 2.72 | .54 | ||||||||||||||||||
See page 70 for footnotes.
| American Funds Portfolio Series | 63 |
Growth Portfolio
| Beginning | Ending | Expenses | Effective | Effective | ||||||||||||||||||||
| account value | account value | paid during | Annualized | expenses paid | annualized | |||||||||||||||||||
| 11/1/2015 | 4/30/2016 | period1,2 | expense ratio2 | during period3 | expense ratio4 | |||||||||||||||||||
| Class A – actual return | $ | 1,000.00 | $ | 992.61 | $ | 1.73 | .35 | % | $ | 3.86 | .78 | % | ||||||||||||
| Class A – assumed 5% return | 1,000.00 | 1,023.12 | 1.76 | .35 | 3.92 | .78 | ||||||||||||||||||
| Class B – actual return | 1,000.00 | 988.11 | 5.73 | 1.16 | 7.86 | 1.59 | ||||||||||||||||||
| Class B – assumed 5% return | 1,000.00 | 1,019.10 | 5.82 | 1.16 | 7.97 | 1.59 | ||||||||||||||||||
| Class C – actual return | 1,000.00 | 988.30 | 5.64 | 1.14 | 7.76 | 1.57 | ||||||||||||||||||
| Class C – assumed 5% return | 1,000.00 | 1,019.19 | 5.72 | 1.14 | 7.87 | 1.57 | ||||||||||||||||||
| Class F-1 – actual return | 1,000.00 | 991.77 | 2.03 | .41 | 4.16 | .84 | ||||||||||||||||||
| Class F-1 – assumed 5% return | 1,000.00 | 1,022.82 | 2.06 | .41 | 4.22 | .84 | ||||||||||||||||||
| Class F-2 – actual return | 1,000.00 | 993.75 | .74 | .15 | 2.88 | .58 | ||||||||||||||||||
| Class F-2 – assumed 5% return | 1,000.00 | 1,024.12 | .75 | .15 | 2.92 | .58 | ||||||||||||||||||
| Class 529-A – actual return | 1,000.00 | 992.03 | 2.13 | .43 | 4.26 | .86 | ||||||||||||||||||
| Class 529-A – assumed 5% return | 1,000.00 | 1,022.73 | 2.16 | .43 | 4.32 | .86 | ||||||||||||||||||
| Class 529-B – actual return | 1,000.00 | 988.08 | 6.18 | 1.25 | 8.30 | 1.68 | ||||||||||||||||||
| Class 529-B – assumed 5% return | 1,000.00 | 1,018.65 | 6.27 | 1.25 | 8.42 | 1.68 | ||||||||||||||||||
| Class 529-C – actual return | 1,000.00 | 987.38 | 6.08 | 1.23 | 8.20 | 1.66 | ||||||||||||||||||
| Class 529-C – assumed 5% return | 1,000.00 | 1,018.75 | 6.17 | 1.23 | 8.32 | 1.66 | ||||||||||||||||||
| Class 529-E – actual return | 1,000.00 | 990.57 | 3.41 | .69 | 5.54 | 1.12 | ||||||||||||||||||
| Class 529-E – assumed 5% return | 1,000.00 | 1,021.43 | 3.47 | .69 | 5.62 | 1.12 | ||||||||||||||||||
| Class 529-F-1 – actual return | 1,000.00 | 992.65 | 1.14 | .23 | 3.27 | .66 | ||||||||||||||||||
| Class 529-F-1 – assumed 5% return | 1,000.00 | 1,023.72 | 1.16 | .23 | 3.32 | .66 | ||||||||||||||||||
| Class R-1 – actual return | 1,000.00 | 988.08 | 5.68 | 1.15 | 7.81 | 1.58 | ||||||||||||||||||
| Class R-1 – assumed 5% return | 1,000.00 | 1,019.14 | 5.77 | 1.15 | 7.92 | 1.58 | ||||||||||||||||||
| Class R-2 – actual return | 1,000.00 | 987.96 | 5.78 | 1.17 | 7.91 | 1.60 | ||||||||||||||||||
| Class R-2 – assumed 5% return | 1,000.00 | 1,019.05 | 5.87 | 1.17 | 8.02 | 1.60 | ||||||||||||||||||
| Class R-2E – actual return | 1,000.00 | 990.50 | 3.66 | .74 | 5.79 | 1.17 | ||||||||||||||||||
| Class R-2E – assumed 5% return | 1,000.00 | 1,021.18 | 3.72 | .74 | 5.87 | 1.17 | ||||||||||||||||||
| Class R-3 – actual return | 1,000.00 | 990.61 | 3.46 | .70 | 5.59 | 1.13 | ||||||||||||||||||
| Class R-3 – assumed 5% return | 1,000.00 | 1,021.38 | 3.52 | .70 | 5.67 | 1.13 | ||||||||||||||||||
| Class R-4 – actual return | 1,000.00 | 992.11 | 1.93 | .39 | 4.06 | .82 | ||||||||||||||||||
| Class R-4 – assumed 5% return | 1,000.00 | 1,022.92 | 1.96 | .39 | 4.12 | .82 | ||||||||||||||||||
| Class R-5E – actual return5 | 1,000.00 | 986.02 | 1.05 | .24 | 2.94 | .67 | ||||||||||||||||||
| Class R-5E – assumed 5% return5 | 1,000.00 | 1,023.67 | 1.21 | .24 | 3.37 | .67 | ||||||||||||||||||
| Class R-5 – actual return | 1,000.00 | 993.57 | .45 | .09 | 2.58 | .52 | ||||||||||||||||||
| Class R-5 – assumed 5% return | 1,000.00 | 1,024.42 | .45 | .09 | 2.61 | .52 | ||||||||||||||||||
| Class R-6 – actual return | 1,000.00 | 993.91 | .20 | .04 | 2.33 | .47 | ||||||||||||||||||
| Class R-6 – assumed 5% return | 1,000.00 | 1,024.66 | .20 | .04 | 2.36 | .47 | ||||||||||||||||||
| 64 | American Funds Portfolio Series |
Growth and Income Portfolio
| Beginning | Ending | Expenses | Effective | Effective | ||||||||||||||||||||
| account value | account value | paid during | Annualized | expenses paid | annualized | |||||||||||||||||||
| 11/1/2015 | 4/30/2016 | period1,2 | expense ratio2 | during period3 | expense ratio4 | |||||||||||||||||||
| Class A – actual return | $ | 1,000.00 | $ | 1,012.50 | $ | 1.75 | .35 | % | $ | 3.60 | .72 | % | ||||||||||||
| Class A – assumed 5% return | 1,000.00 | 1,023.12 | 1.76 | .35 | 3.62 | .72 | ||||||||||||||||||
| Class B – actual return | 1,000.00 | 1,007.98 | 5.74 | 1.15 | 7.59 | 1.52 | ||||||||||||||||||
| Class B – assumed 5% return | 1,000.00 | 1,019.14 | 5.77 | 1.15 | 7.62 | 1.52 | ||||||||||||||||||
| Class C – actual return | 1,000.00 | 1,008.89 | 5.64 | 1.13 | 7.49 | 1.50 | ||||||||||||||||||
| Class C – assumed 5% return | 1,000.00 | 1,019.24 | 5.67 | 1.13 | 7.52 | 1.50 | ||||||||||||||||||
| Class F-1 – actual return | 1,000.00 | 1,012.34 | 2.00 | .40 | 3.85 | .77 | ||||||||||||||||||
| Class F-1 – assumed 5% return | 1,000.00 | 1,022.87 | 2.01 | .40 | 3.87 | .77 | ||||||||||||||||||
| Class F-2 – actual return | 1,000.00 | 1,013.57 | .70 | .14 | 2.55 | .51 | ||||||||||||||||||
| Class F-2 – assumed 5% return | 1,000.00 | 1,024.17 | .70 | .14 | 2.56 | .51 | ||||||||||||||||||
| Class 529-A – actual return | 1,000.00 | 1,012.11 | 2.20 | .44 | 4.05 | .81 | ||||||||||||||||||
| Class 529-A – assumed 5% return | 1,000.00 | 1,022.68 | 2.21 | .44 | 4.07 | .81 | ||||||||||||||||||
| Class 529-B – actual return | 1,000.00 | 1,008.01 | 6.14 | 1.23 | 7.99 | 1.60 | ||||||||||||||||||
| Class 529-B – assumed 5% return | 1,000.00 | 1,018.75 | 6.17 | 1.23 | 8.02 | 1.60 | ||||||||||||||||||
| Class 529-C – actual return | 1,000.00 | 1,008.27 | 6.09 | 1.22 | 7.94 | 1.59 | ||||||||||||||||||
| Class 529-C – assumed 5% return | 1,000.00 | 1,018.80 | 6.12 | 1.22 | 7.97 | 1.59 | ||||||||||||||||||
| Class 529-E – actual return | 1,000.00 | 1,010.99 | 3.40 | .68 | 5.25 | 1.05 | ||||||||||||||||||
| Class 529-E – assumed 5% return | 1,000.00 | 1,021.48 | 3.42 | .68 | 5.27 | 1.05 | ||||||||||||||||||
| Class 529-F-1 – actual return | 1,000.00 | 1,013.14 | 1.10 | .22 | 2.95 | .59 | ||||||||||||||||||
| Class 529-F-1 – assumed 5% return | 1,000.00 | 1,023.77 | 1.11 | .22 | 2.97 | .59 | ||||||||||||||||||
| Class R-1 – actual return | 1,000.00 | 1,008.61 | 5.69 | 1.14 | 7.54 | 1.51 | ||||||||||||||||||
| Class R-1 – assumed 5% return | 1,000.00 | 1,019.19 | 5.72 | 1.14 | 7.57 | 1.51 | ||||||||||||||||||
| Class R-2 – actual return | 1,000.00 | 1,008.03 | 5.84 | 1.17 | 7.69 | 1.54 | ||||||||||||||||||
| Class R-2 – assumed 5% return | 1,000.00 | 1,019.05 | 5.87 | 1.17 | 7.72 | 1.54 | ||||||||||||||||||
| Class R-2E – actual return | 1,000.00 | 1,010.70 | 3.75 | .75 | 5.60 | 1.12 | ||||||||||||||||||
| Class R-2E – assumed 5% return | 1,000.00 | 1,021.13 | 3.77 | .75 | 5.62 | 1.12 | ||||||||||||||||||
| Class R-3 – actual return | 1,000.00 | 1,010.20 | 3.50 | .70 | 5.35 | 1.07 | ||||||||||||||||||
| Class R-3 – assumed 5% return | 1,000.00 | 1,021.38 | 3.52 | .70 | 5.37 | 1.07 | ||||||||||||||||||
| Class R-4 – actual return | 1,000.00 | 1,012.46 | 1.90 | .38 | 3.75 | .75 | ||||||||||||||||||
| Class R-4 – assumed 5% return | 1,000.00 | 1,022.97 | 1.91 | .38 | 3.77 | .75 | ||||||||||||||||||
| Class R-5E – actual return5 | 1,000.00 | 1,014.96 | 1.07 | .24 | 2.72 | .61 | ||||||||||||||||||
| Class R-5E – assumed 5% return5 | 1,000.00 | 1,023.67 | 1.21 | .24 | 3.07 | .61 | ||||||||||||||||||
| Class R-5 – actual return | 1,000.00 | 1,013.78 | .45 | .09 | 2.30 | .46 | ||||||||||||||||||
| Class R-5 – assumed 5% return | 1,000.00 | 1,024.42 | .45 | .09 | 2.31 | .46 | ||||||||||||||||||
| Class R-6 – actual return | 1,000.00 | 1,014.03 | .15 | .03 | 2.00 | .40 | ||||||||||||||||||
| Class R-6 – assumed 5% return | 1,000.00 | 1,024.71 | .15 | .03 | 2.01 | .40 | ||||||||||||||||||
| See page 70 for footnotes. | ||||||||||||||||||||||||
| American Funds Portfolio Series | 65 |
Balanced Portfolio
| Beginning | Ending | Expenses | Effective | Effective | ||||||||||||||||||||
| account value | account value | paid during | Annualized | expenses paid | annualized | |||||||||||||||||||
| 11/1/2015 | 4/30/2016 | period1,2 | expense ratio2 | during period3 | expense ratio4 | |||||||||||||||||||
| Class A – actual return | $ | 1,000.00 | $ | 1,010.42 | $ | 1.90 | .38 | % | $ | 3.80 | .76 | % | ||||||||||||
| Class A – assumed 5% return | 1,000.00 | 1,022.97 | 1.91 | .38 | 3.82 | .76 | ||||||||||||||||||
| Class B – actual return | 1,000.00 | 1,005.97 | 5.74 | 1.15 | 7.63 | 1.53 | ||||||||||||||||||
| Class B – assumed 5% return | 1,000.00 | 1,019.14 | 5.77 | 1.15 | 7.67 | 1.53 | ||||||||||||||||||
| Class C – actual return | 1,000.00 | 1,006.87 | 5.69 | 1.14 | 7.58 | 1.52 | ||||||||||||||||||
| Class C – assumed 5% return | 1,000.00 | 1,019.19 | 5.72 | 1.14 | 7.62 | 1.52 | ||||||||||||||||||
| Class F-1 – actual return | 1,000.00 | 1,010.34 | 2.00 | .40 | 3.90 | .78 | ||||||||||||||||||
| Class F-1 – assumed 5% return | 1,000.00 | 1,022.87 | 2.01 | .40 | 3.92 | .78 | ||||||||||||||||||
| Class F-2 – actual return | 1,000.00 | 1,011.59 | .70 | .14 | 2.60 | .52 | ||||||||||||||||||
| Class F-2 – assumed 5% return | 1,000.00 | 1,024.17 | .70 | .14 | 2.61 | .52 | ||||||||||||||||||
| Class 529-A – actual return | 1,000.00 | 1,010.05 | 2.20 | .44 | 4.10 | .82 | ||||||||||||||||||
| Class 529-A – assumed 5% return | 1,000.00 | 1,022.68 | 2.21 | .44 | 4.12 | .82 | ||||||||||||||||||
| Class 529-B – actual return | 1,000.00 | 1,006.13 | 6.23 | 1.25 | 8.13 | 1.63 | ||||||||||||||||||
| Class 529-B – assumed 5% return | 1,000.00 | 1,018.65 | 6.27 | 1.25 | 8.17 | 1.63 | ||||||||||||||||||
| Class 529-C – actual return | 1,000.00 | 1,006.16 | 6.14 | 1.23 | 8.03 | 1.61 | ||||||||||||||||||
| Class 529-C – assumed 5% return | 1,000.00 | 1,018.75 | 6.17 | 1.23 | 8.07 | 1.61 | ||||||||||||||||||
| Class 529-E – actual return | 1,000.00 | 1,008.94 | 3.40 | .68 | 5.29 | 1.06 | ||||||||||||||||||
| Class 529-E – assumed 5% return | 1,000.00 | 1,021.48 | 3.42 | .68 | 5.32 | 1.06 | ||||||||||||||||||
| Class 529-F-1 – actual return | 1,000.00 | 1,011.11 | 1.10 | .22 | 3.00 | .60 | ||||||||||||||||||
| Class 529-F-1 – assumed 5% return | 1,000.00 | 1,023.77 | 1.11 | .22 | 3.02 | .60 | ||||||||||||||||||
| Class R-1 – actual return | 1,000.00 | 1,006.54 | 5.74 | 1.15 | 7.63 | 1.53 | ||||||||||||||||||
| Class R-1 – assumed 5% return | 1,000.00 | 1,019.14 | 5.77 | 1.15 | 7.67 | 1.53 | ||||||||||||||||||
| Class R-2 – actual return | 1,000.00 | 1,006.62 | 5.84 | 1.17 | 7.73 | 1.55 | ||||||||||||||||||
| Class R-2 – assumed 5% return | 1,000.00 | 1,019.05 | 5.87 | 1.17 | 7.77 | 1.55 | ||||||||||||||||||
| Class R-2E – actual return | 1,000.00 | 1,009.13 | 3.80 | .76 | 5.69 | 1.14 | ||||||||||||||||||
| Class R-2E – assumed 5% return | 1,000.00 | 1,021.08 | 3.82 | .76 | 5.72 | 1.14 | ||||||||||||||||||
| Class R-3 – actual return | 1,000.00 | 1,008.78 | 3.50 | .70 | 5.39 | 1.08 | ||||||||||||||||||
| Class R-3 – assumed 5% return | 1,000.00 | 1,021.38 | 3.52 | .70 | 5.42 | 1.08 | ||||||||||||||||||
| Class R-4 – actual return | 1,000.00 | 1,010.43 | 1.90 | .38 | 3.80 | .76 | ||||||||||||||||||
| Class R-4 – assumed 5% return | 1,000.00 | 1,022.97 | 1.91 | .38 | 3.82 | .76 | ||||||||||||||||||
| Class R-5E – actual return5 | 1,000.00 | 1,009.17 | 1.07 | .24 | 2.76 | .62 | ||||||||||||||||||
| Class R-5E – assumed 5% return5 | 1,000.00 | 1,023.67 | 1.21 | .24 | 3.12 | .62 | ||||||||||||||||||
| Class R-5 – actual return | 1,000.00 | 1,011.73 | .45 | .09 | 2.35 | .47 | ||||||||||||||||||
| Class R-5 – assumed 5% return | 1,000.00 | 1,024.42 | .45 | .09 | 2.36 | .47 | ||||||||||||||||||
| Class R-6 – actual return | 1,000.00 | 1,012.00 | .20 | .04 | 2.10 | .42 | ||||||||||||||||||
| Class R-6 – assumed 5% return | 1,000.00 | 1,024.66 | .20 | .04 | 2.11 | .42 | ||||||||||||||||||
| 66 | American Funds Portfolio Series |
Income Portfolio
| Beginning | Ending | Expenses | Effective | Effective | ||||||||||||||||||||
| account value | account value | paid during | Annualized | expenses paid | annualized | |||||||||||||||||||
| 11/1/2015 | 4/30/2016 | period1,2 | expense ratio2 | during period3 | expense ratio4 | |||||||||||||||||||
| Class A – actual return | $ | 1,000.00 | $ | 1,024.90 | $ | 1.81 | .36 | % | $ | 3.32 | .66 | % | ||||||||||||
| Class A – assumed 5% return | 1,000.00 | 1,023.07 | 1.81 | .36 | 3.32 | .66 | ||||||||||||||||||
| Class B – actual return | 1,000.00 | 1,021.14 | 5.78 | 1.15 | 7.29 | 1.45 | ||||||||||||||||||
| Class B – assumed 5% return | 1,000.00 | 1,019.14 | 5.77 | 1.15 | 7.27 | 1.45 | ||||||||||||||||||
| Class C – actual return | 1,000.00 | 1,021.23 | 5.73 | 1.14 | 7.24 | 1.44 | ||||||||||||||||||
| Class C – assumed 5% return | 1,000.00 | 1,019.19 | 5.72 | 1.14 | 7.22 | 1.44 | ||||||||||||||||||
| Class F-1 – actual return | 1,000.00 | 1,024.71 | 2.06 | .41 | 3.57 | .71 | ||||||||||||||||||
| Class F-1 – assumed 5% return | 1,000.00 | 1,022.82 | 2.06 | .41 | 3.57 | .71 | ||||||||||||||||||
| Class F-2 – actual return | 1,000.00 | 1,026.11 | .76 | .15 | 2.27 | .45 | ||||||||||||||||||
| Class F-2 – assumed 5% return | 1,000.00 | 1,024.12 | .75 | .15 | 2.26 | .45 | ||||||||||||||||||
| Class 529-A – actual return | 1,000.00 | 1,025.24 | 2.27 | .45 | 3.78 | .75 | ||||||||||||||||||
| Class 529-A – assumed 5% return | 1,000.00 | 1,022.63 | 2.26 | .45 | 3.77 | .75 | ||||||||||||||||||
| Class 529-B – actual return | 1,000.00 | 1,020.69 | 6.13 | 1.22 | 7.64 | 1.52 | ||||||||||||||||||
| Class 529-B – assumed 5% return | 1,000.00 | 1,018.80 | 6.12 | 1.22 | 7.62 | 1.52 | ||||||||||||||||||
| Class 529-C – actual return | 1,000.00 | 1,020.59 | 6.18 | 1.23 | 7.69 | 1.53 | ||||||||||||||||||
| Class 529-C – assumed 5% return | 1,000.00 | 1,018.75 | 6.17 | 1.23 | 7.67 | 1.53 | ||||||||||||||||||
| Class 529-E – actual return | 1,000.00 | 1,024.10 | 3.42 | .68 | 4.93 | .98 | ||||||||||||||||||
| Class 529-E – assumed 5% return | 1,000.00 | 1,021.48 | 3.42 | .68 | 4.92 | .98 | ||||||||||||||||||
| Class 529-F-1 – actual return | 1,000.00 | 1,026.54 | 1.11 | .22 | 2.62 | .52 | ||||||||||||||||||
| Class 529-F-1 – assumed 5% return | 1,000.00 | 1,023.77 | 1.11 | .22 | 2.61 | .52 | ||||||||||||||||||
| Class R-1 – actual return | 1,000.00 | 1,020.96 | 5.78 | 1.15 | 7.29 | 1.45 | ||||||||||||||||||
| Class R-1 – assumed 5% return | 1,000.00 | 1,019.14 | 5.77 | 1.15 | 7.27 | 1.45 | ||||||||||||||||||
| Class R-2 – actual return | 1,000.00 | 1,021.05 | 5.93 | 1.18 | 7.44 | 1.48 | ||||||||||||||||||
| Class R-2 – assumed 5% return | 1,000.00 | 1,019.00 | 5.92 | 1.18 | 7.42 | 1.48 | ||||||||||||||||||
| Class R-2E – actual return | 1,000.00 | 1,026.48 | .91 | .18 | 2.42 | .48 | ||||||||||||||||||
| Class R-2E – assumed 5% return | 1,000.00 | 1,023.97 | .91 | .18 | 2.41 | .48 | ||||||||||||||||||
| Class R-3 – actual return | 1,000.00 | 1,023.27 | 3.52 | .70 | 5.03 | 1.00 | ||||||||||||||||||
| Class R-3 – assumed 5% return | 1,000.00 | 1,021.38 | 3.52 | .70 | 5.02 | 1.00 | ||||||||||||||||||
| Class R-4 – actual return | 1,000.00 | 1,024.96 | 1.91 | .38 | 3.42 | .68 | ||||||||||||||||||
| Class R-4 – assumed 5% return | 1,000.00 | 1,022.97 | 1.91 | .38 | 3.42 | .68 | ||||||||||||||||||
| Class R-5E – actual return5 | 1,000.00 | 1,033.12 | 1.08 | .24 | 2.43 | .54 | ||||||||||||||||||
| Class R-5E – assumed 5% return5 | 1,000.00 | 1,023.67 | 1.21 | .24 | 2.72 | .54 | ||||||||||||||||||
| Class R-5 – actual return | 1,000.00 | 1,026.22 | .45 | .09 | 1.96 | .39 | ||||||||||||||||||
| Class R-5 – assumed 5% return | 1,000.00 | 1,024.42 | .45 | .09 | 1.96 | .39 | ||||||||||||||||||
| Class R-6 – actual return | 1,000.00 | 1,027.39 | .20 | .04 | 1.71 | .34 | ||||||||||||||||||
| Class R-6 – assumed 5% return | 1,000.00 | 1,024.66 | .20 | .04 | 1.71 | .34 | ||||||||||||||||||
See page 70 for footnotes.
| American Funds Portfolio Series | 67 |
Tax-Advantaged Income Portfolio
| Beginning | Ending | Expenses | Effective | Effective | ||||||||||||||||||||
| account value | account value | paid during | Annualized | expenses paid | annualized | |||||||||||||||||||
| 11/1/2015 | 4/30/2016 | period1,2 | expense ratio2 | during period3 | expense ratio4 | |||||||||||||||||||
| Class A – actual return | $ | 1,000.00 | $ | 1,022.18 | $ | 2.26 | .45 | % | $ | 4.07 | .81 | % | ||||||||||||
| Class A – assumed 5% return | 1,000.00 | 1,022.63 | 2.26 | .45 | 4.07 | .81 | ||||||||||||||||||
| Class B – actual return | 1,000.00 | 1,018.79 | 5.87 | 1.17 | 7.68 | 1.53 | ||||||||||||||||||
| Class B – assumed 5% return | 1,000.00 | 1,019.05 | 5.87 | 1.17 | 7.67 | 1.53 | ||||||||||||||||||
| Class C – actual return | 1,000.00 | 1,018.96 | 5.77 | 1.15 | 7.58 | 1.51 | ||||||||||||||||||
| Class C – assumed 5% return | 1,000.00 | 1,019.14 | 5.77 | 1.15 | 7.57 | 1.51 | ||||||||||||||||||
| Class F-1 – actual return | 1,000.00 | 1,022.40 | 2.06 | .41 | 3.87 | .77 | ||||||||||||||||||
| Class F-1 – assumed 5% return | 1,000.00 | 1,022.82 | 2.06 | .41 | 3.87 | .77 | ||||||||||||||||||
| Class F-2 – actual return | 1,000.00 | 1,023.58 | .81 | .16 | 2.62 | .52 | ||||||||||||||||||
| Class F-2 – assumed 5% return | 1,000.00 | 1,024.07 | .81 | .16 | 2.61 | .52 | ||||||||||||||||||
| 68 | American Funds Portfolio Series |
Preservation Portfolio
| Beginning | Ending | Expenses | Effective | Effective | ||||||||||||||||||||
| account value | account value | paid during | Annualized | expenses paid | annualized | |||||||||||||||||||
| 11/1/2015 | 4/30/2016 | period1,2 | expense ratio2 | during period3 | expense ratio4 | |||||||||||||||||||
| Class A – actual return | $ | 1,000.00 | $ | 1,012.31 | $ | 2.25 | .45 | % | $ | 3.75 | .75 | % | ||||||||||||
| Class A – assumed 5% return | 1,000.00 | 1,022.63 | 2.26 | .45 | 3.77 | .75 | ||||||||||||||||||
| Class B – actual return | 1,000.00 | 1,008.51 | 5.84 | 1.17 | 7.34 | 1.47 | ||||||||||||||||||
| Class B – assumed 5% return | 1,000.00 | 1,019.05 | 5.87 | 1.17 | 7.37 | 1.47 | ||||||||||||||||||
| Class C – actual return | 1,000.00 | 1,008.92 | 5.79 | 1.16 | 7.29 | 1.46 | ||||||||||||||||||
| Class C – assumed 5% return | 1,000.00 | 1,019.10 | 5.82 | 1.16 | 7.32 | 1.46 | ||||||||||||||||||
| Class F-1 – actual return | 1,000.00 | 1,012.39 | 2.10 | .42 | 3.60 | .72 | ||||||||||||||||||
| Class F-1 – assumed 5% return | 1,000.00 | 1,022.77 | 2.11 | .42 | 3.62 | .72 | ||||||||||||||||||
| Class F-2 – actual return | 1,000.00 | 1,013.71 | .85 | .17 | 2.35 | .47 | ||||||||||||||||||
| Class F-2 – assumed 5% return | 1,000.00 | 1,024.02 | .86 | .17 | 2.36 | .47 | ||||||||||||||||||
| Class 529-A – actual return | 1,000.00 | 1,013.16 | 2.30 | .46 | 3.80 | .76 | ||||||||||||||||||
| Class 529-A – assumed 5% return | 1,000.00 | 1,022.58 | 2.31 | .46 | 3.82 | .76 | ||||||||||||||||||
| Class 529-B – actual return | 1,000.00 | 1,007.99 | 6.34 | 1.27 | 7.84 | 1.57 | ||||||||||||||||||
| Class 529-B – assumed 5% return | 1,000.00 | 1,018.55 | 6.37 | 1.27 | 7.87 | 1.57 | ||||||||||||||||||
| Class 529-C – actual return | 1,000.00 | 1,008.39 | 6.24 | 1.25 | 7.74 | 1.55 | ||||||||||||||||||
| Class 529-C – assumed 5% return | 1,000.00 | 1,018.65 | 6.27 | 1.25 | 7.77 | 1.55 | ||||||||||||||||||
| Class 529-E – actual return | 1,000.00 | 1,011.08 | 3.55 | .71 | 5.05 | 1.01 | ||||||||||||||||||
| Class 529-E – assumed 5% return | 1,000.00 | 1,021.33 | 3.57 | .71 | 5.07 | 1.01 | ||||||||||||||||||
| Class 529-F-1 – actual return | 1,000.00 | 1,014.25 | 1.25 | .25 | 2.75 | .55 | ||||||||||||||||||
| Class 529-F-1 – assumed 5% return | 1,000.00 | 1,023.62 | 1.26 | .25 | 2.77 | .55 | ||||||||||||||||||
| Class R-1 – actual return | 1,000.00 | 1,009.00 | 5.84 | 1.17 | 7.34 | 1.47 | ||||||||||||||||||
| Class R-1 – assumed 5% return | 1,000.00 | 1,019.05 | 5.87 | 1.17 | 7.37 | 1.47 | ||||||||||||||||||
| Class R-2 – actual return | 1,000.00 | 1,008.61 | 5.99 | 1.20 | 7.49 | 1.50 | ||||||||||||||||||
| Class R-2 – assumed 5% return | 1,000.00 | 1,018.90 | 6.02 | 1.20 | 7.52 | 1.50 | ||||||||||||||||||
| Class R-2E – actual return | 1,000.00 | 1,011.37 | 3.75 | .75 | 5.25 | 1.05 | ||||||||||||||||||
| Class R-2E – assumed 5% return | 1,000.00 | 1,021.13 | 3.77 | .75 | 5.27 | 1.05 | ||||||||||||||||||
| Class R-3 – actual return | 1,000.00 | 1,010.96 | 3.65 | .73 | 5.15 | 1.03 | ||||||||||||||||||
| Class R-3 – assumed 5% return | 1,000.00 | 1,021.23 | 3.67 | .73 | 5.17 | 1.03 | ||||||||||||||||||
| Class R-4 – actual return | 1,000.00 | 1,012.57 | 2.05 | .41 | 3.55 | .71 | ||||||||||||||||||
| Class R-4 – assumed 5% return | 1,000.00 | 1,022.82 | 2.06 | .41 | 3.57 | .71 | ||||||||||||||||||
| Class R-5E – actual return5 | 1,000.00 | 1,017.50 | 1.21 | .27 | 2.55 | .57 | ||||||||||||||||||
| Class R-5E – assumed 5% return5 | 1,000.00 | 1,023.52 | 1.36 | .27 | 2.87 | .57 | ||||||||||||||||||
| Class R-5 – actual return | 1,000.00 | 1,013.93 | .60 | .12 | 2.10 | .42 | ||||||||||||||||||
| Class R-5 – assumed 5% return | 1,000.00 | 1,024.27 | .60 | .12 | 2.11 | .42 | ||||||||||||||||||
| Class R-6 – actual return | 1,000.00 | 1,014.19 | .30 | .06 | 1.80 | .36 | ||||||||||||||||||
| Class R-6 – assumed 5% return | 1,000.00 | 1,024.57 | .30 | .06 | 1.81 | .36 | ||||||||||||||||||
See page 70 for footnotes.
| American Funds Portfolio Series | 69 |
Tax-Exempt Preservation Portfolio
| Beginning | Ending | Expenses | Effective | Effective | ||||||||||||||||||||
| account value | account value | paid during | Annualized | expenses paid | annualized | |||||||||||||||||||
| 11/1/2015 | 4/30/2016 | period1,2 | expense ratio2 | during period3 | expense ratio4 | |||||||||||||||||||
| Class A – actual return | $ | 1,000.00 | $ | 1,018.14 | $ | 2.26 | .45 | % | $ | 3.76 | .75 | % | ||||||||||||
| Class A – assumed 5% return | 1,000.00 | 1,022.63 | 2.26 | .45 | 3.77 | .75 | ||||||||||||||||||
| Class B – actual return | 1,000.00 | 1,015.43 | 5.81 | 1.16 | 7.32 | 1.46 | ||||||||||||||||||
| Class B – assumed 5% return | 1,000.00 | 1,019.10 | 5.82 | 1.16 | 7.32 | 1.46 | ||||||||||||||||||
| Class C – actual return | 1,000.00 | 1,015.74 | 5.81 | 1.16 | 7.32 | 1.46 | ||||||||||||||||||
| Class C – assumed 5% return | 1,000.00 | 1,019.10 | 5.82 | 1.16 | 7.32 | 1.46 | ||||||||||||||||||
| Class F-1 – actual return | 1,000.00 | 1,019.41 | 2.06 | .41 | 3.56 | .71 | ||||||||||||||||||
| Class F-1 – assumed 5% return | 1,000.00 | 1,022.82 | 2.06 | .41 | 3.57 | .71 | ||||||||||||||||||
| Class F-2 – actual return | 1,000.00 | 1,019.58 | .80 | .16 | 2.31 | .46 | ||||||||||||||||||
| Class F-2 – assumed 5% return | 1,000.00 | 1,024.07 | .81 | .16 | 2.31 | .46 | ||||||||||||||||||
| 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 366 (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 366 (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. |
| 5 | The period for the “annualized expense ratio” and “actual return” line is based on the number of days since the initial sale of the share class on November 20, 2015. The “assumed 5% return” line is based on 182 days. |
| 70 | American Funds Portfolio Series |
Approval of Investment Advisory and Service Agreement
The American Funds Portfolio Series’ board has approved the series’ Investment Advisory and Service Agreement (the “agreement”) with Capital Research and Management Company (“CRMC”) for an additional one-year term through January 31, 2017. The agreement was amended to eliminate the annual management fee, which was previously waived for the series. The board approved the agreement following the recommendation of the series’ Contracts Committee (the “committee”), which is composed of all of the series’ independent board members. The board and the committee determined that each fund’s advisory fee structure was fair and reasonable in relation to the services provided, and that approving the agreement was in the best interests of each fund and its shareholders.
In reaching this decision, the board and the committee took into account information furnished to them throughout the year and otherwise provided to them, as well as information prepared specifically in connection with their review of the agreement, and were advised by their independent counsel. They considered the following factors, among others, but did not identify any single issue or particular piece of information that, in isolation, was the controlling factor, and each board and committee member did not necessarily attribute the same weight to each factor.
1. Nature, extent and quality of services
The board and the committee considered the depth and quality of CRMC’s investment management process, including its global research capabilities; the experience, capability and integrity of its senior management and other personnel; the low turnover rates of its key personnel; the overall financial strength and stability of CRMC and the Capital Group organization; and the ongoing evolution of CRMC’s organizational structure designed to maintain and strengthen these qualities. The board and the committee also considered the nature, extent and quality of administrative, compliance and shareholder services provided by CRMC to the funds under each fund’s agreement and other agreements, as well as the benefits to each fund’s shareholders from investing in a fund that is part of a large family of funds. The board and the committee concluded that the nature, extent and quality of the services provided by CRMC have benefited and should continue to benefit each fund and its shareholders.
2. Investment results
The board and the committee considered the investment results of each fund in light of its objective. They compared each fund’s investment results with relevant benchmarks, such as market indexes and fund averages, over various periods ended July 31, 2015. This report, including the letter to shareholders and related disclosures, contains certain information about each fund’s investment results.
American Funds Global Growth Portfolio seeks to provide long-term growth of capital. The board and the committee reviewed the fund’s investment results measured against (i) the MSCI All Country World Index, (ii) the Lipper Global Funds Index (the average for the Lipper category that includes the fund) and (iii) the Morningstar U.S. Open End World Stock Category (the Morningstar category is comprised of a group of similar funds whose results are averaged). They noted that the fund’s investment results were higher than all of the comparisons.
American Funds Growth Portfolio seeks to provide long-term growth of capital. The board and the committee reviewed the fund’s investment results measured against (i) the Standard & Poor’s 500 Composite Index, (ii) the Lipper Growth Funds Index (the average for the Lipper category that includes the fund) and (iii) the Morningstar U.S. Open End World Stock Category (the Morningstar category is comprised of a group of similar funds whose results are averaged). They noted that the fund’s investment results were higher than all of the comparisons for the seven-month period and higher than the Morningstar Category for all of the periods, although they were lower than the S&P 500 Index and the Lipper Index for the three-month and one-year periods and lifetime of the fund since May 18, 2012.
American Funds Growth and Income Portfolio seeks to provide long-term growth of capital while providing current income. The board and the committee reviewed the fund’s investment results measured against (i) the Standard & Poor’s 500 Composite Index, (ii) the Lipper Growth and Income Funds Index (the average for the Lipper category that includes the fund) and (iii) the Morningstar U.S. Open End Aggressive Allocation Category (the Morningstar category is comprised of a group of similar funds whose results are averaged). They noted that the fund’s investment results were higher than the Morningstar Category for all periods, although they were lower than the S&P 500 and the Lipper Index for all periods.
| American Funds Portfolio Series | 71 |
American Funds Balanced Portfolio seeks to provide current income and long-term growth of capital and income. The board and the committee reviewed the fund’s investment results measured against (i) the Standard & Poor’s 500 Composite Index, (ii) the Lipper Balanced Funds Index (the average for the Lipper category that includes the fund) and (iii) the Morningstar U.S. Open End Moderate Allocation Category (the Morningstar category is comprised of a group of similar funds whose results are averaged). They noted that the fund’s investment results were higher than the Lipper Index and Morningstar Category for the seven-month and one-year periods, as well as the lifetime of the fund since May 18, 2012, although they were lower than the S&P Index for those periods. For the three-month period, the fund’s investment results were higher than the Morningstar Category but lower than the Lipper Index.
American Funds Income Portfolio seeks to provide current income and, secondarily, long-term growth of capital. The board and the committee reviewed the fund’s investment results measured against (i) the Standard & Poor’s 500 Composite Index, (ii) the Lipper Income Funds Index (the average for the Lipper category that includes the fund) and (iii) the Morningstar U.S. Open End Conservative Allocation Category (the Morningstar category is comprised of a group of similar funds whose results are averaged). They noted that the fund’s investment results were higher than the Lipper Index and Morningstar Category for the one-year period and lifetime of the fund since May 18, 2012, although they were lower than the S&P Index for all periods. For the seven-month period, the fund’s investment results were higher than the Morningstar Category but lower than the Lipper Index, and the fund’s investment results were lower than all comparisons for the three-month period.
American Funds Tax-Advantaged Income Portfolio seeks to provide current income, a portion of which is exempt from regular federal income tax, while secondarily striving for long-term growth of capital. The board and the committee reviewed the fund’s investment results measured against (i) the Barclays Municipal Bond Index, (ii) the Lipper Income Funds Index (the average for the Lipper category that includes the fund) and (iii) the Morningstar U.S. Open End Conservative Allocation Category (the Morningstar category is comprised of a group of similar funds whose results are averaged). They noted that the fund’s investment results were higher than all of the comparisons for all periods except the Barclays Index for the three-month period.
American Funds Preservation Portfolio seeks to provide current income, consistent with preservation of capital. The board and the committee reviewed the fund’s investment results measured against (i) the Barclays U.S. Government/Credit 1-7 Years ex BBB Index, (ii) the Lipper Short-Intermediate Investment Grade Debt Funds Index (the average for the Lipper category that includes the fund) and (iii) the Morningstar U.S. Open End Intermediate-Term Bond Category (the Morningstar category is comprised of a group of similar funds whose results are averaged). They noted that the fund’s investment results were higher than the Lipper Index and Morningstar Category for the three-month period, although they were lower than the Barclays Index for all comparisons and lower than all comparisons for the lifetime of the fund since May 18, 2012. For the one-year period, the fund’s investment results were higher than the Lipper Index but lower than the Morningstar Category, and for the seven-month period, the fund’s investment results were higher than the Morningstar Category but lower than the Lipper Index.
| 72 | American Funds Portfolio Series |
American Funds Tax-Exempt Preservation Portfolio seeks to provide current income that is exempt from regular federal income tax, consistent with preservation of capital. The board and the committee reviewed the fund’s investment results measured against (i) the Barclays Municipal Short-Intermediate 1-10 Years Index, (ii) the Lipper Intermediate Municipal Debt Funds Index (the average for the Lipper category that includes the fund) and (iii) the Morningstar U.S. Open End Municipal National Intermediate Bond Category (the Morningstar category is comprised of a group of similar funds whose results are averaged). They noted that the fund’s investment results were higher than the Lipper Index and Morningstar Category for the three-month, seven-month and one-year periods, but lower than the Barclays Index for the three-month and seven-month periods. For the lifetime of the fund since May 18, 2012, the fund’s investment results were higher than the Barclays Index but at or below the Lipper Index and Morningstar Category and lower than all comparisons for the one-year period.
The board and the committee concluded that each fund’s investment results have been satisfactory for renewal of the agreement and that CRMC’s record in managing the funds indicated that its continued management should benefit each fund and its shareholders.
3. Advisory fees and total expenses
The board and the committee compared the total expense levels of each fund to those of other relevant funds. They observed that each fund’s expenses were less than the median and average expenses of those of the other funds included in its Lipper category described above.
The board and the committee also reviewed the advisory fee schedule of the funds (including the fees and expenses of the underlying American Funds in which the funds invest) to those of other relevant funds. The board and the committee noted CRMC’s waiver of the entire advisory fee payable by the funds under the agreement and CRMC’s commitment not to remove the waiver without board approval. In addition, they reviewed information regarding the effective advisory fees charged to other clients by CRMC and its affiliates. They noted that, to the extent there were differences between the advisory fees paid by the underlying American Funds and the advisory fees paid by those clients, the differences appropriately reflected the investment, operational, regulatory and market differences between advising funds and the other clients. The board and the committee concluded that each fund’s cost structure was fair and reasonable in relation to the services provided, and that each fund’s shareholders receive reasonable value in return for the advisory fees and other amounts paid to CRMC by the fund.
4. Ancillary benefits
The board and the committee considered a variety of other benefits that CRMC and its affiliates receive as a result of CRMC’s relationship with each fund and the underlying American Funds, including fees for administrative services provided to certain share classes; fees paid to CRMC’s affiliated transfer agent; sales charges and distribution fees received and retained by the funds’ principal underwriter, an affiliate of CRMC; and possible ancillary benefits to CRMC and its institutional management affiliates in managing other investment vehicles. The board and the committee reviewed CRMC’s portfolio trading practices, noting the benefits CRMC receives
| American Funds Portfolio Series | 73 |
from the research obtained with commissions from portfolio transactions made on behalf of the underlying American Funds. The board and the committee took these ancillary benefits into account in evaluating the reasonableness of the advisory fees and other amounts paid to CRMC by the funds.
5. Adviser financial information
The board and the committee reviewed information regarding CRMC’s costs of providing services to the American Funds, including personnel, systems and resources of investment, compliance, trading, accounting and other administrative operations. They considered CRMC’s costs and related cost allocation methodology as well as its willingness to invest in technology, infrastructure and staff to maintain and expand services and capabilities, respond to industry and regulatory developments, and attract and retain qualified personnel. They noted information regarding the compensation structure for CRMC’s investment professionals. The board and the committee also compared CRMC’s profitability and compensation data to the reported results and data of several large, publicly-held investment management companies. The board and the committee noted the competitiveness and cyclicality of both the mutual fund industry and the capital markets, and the importance in that environment of CRMC’s long-term profitability for maintaining its independence, company culture and management continuity. The board and the committee concluded that each fund’s advisory fee structure reflected a reasonable sharing of benefits between CRMC and the funds’ shareholders.
| 74 | American Funds Portfolio Series |
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| American Funds Portfolio Series | 75 |
Office of the series
6455 Irvine Center Drive
Irvine, CA 92618-4518
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
Morgan, Lewis & Bockius LLP
300 South Grand Avenue, 22nd Floor
Los Angeles, CA 90071-3132
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
| 76 | 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 and summary prospectuses, 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.
Visit the American Funds website for more information on the securities held by the underlying funds in the American Funds Portfolio Series portfolios.
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, 2016, this report must be accompanied by an American Funds statistical update for the most recently completed calendar quarter.
The American Funds AdvantageSM
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 27 years of investment experience, including 22 years at our company, reflecting a career commitment to our long-term approach.1
The Capital SystemSM
The Capital System combines individual accountability with teamwork. Funds using The Capital System are 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 91% of 10-year periods and 95% of 20-year periods. Our fixed-income funds have beaten their Lipper indexes in 58% of 10-year periods and 58% 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, 2015. | |
| 2 | Based on Class A share results for rolling periods through December 31, 2015. Periods covered are the shorter of the fund’s lifetime or since the comparable Lipper index inception date (except Capital Income Builder and SMALLCAP World Fund, for which the Lipper average was used). | |
| 3 | On average, our management fees were in the lowest quintile 68% of the time, based on the 20-year period ended December 31, 2015, versus comparable Lipper categories, excluding funds of funds. |
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 30, 2016 |
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 30, 2016 |
| By /s/ Gregory F. Niland |
Gregory F. Niland, Treasurer and Principal Financial Officer |
| Date: June 30, 2016 |