American Funds The Growth Fund of America Class R-6 (RGAGX) N-CSRS Certified semi-annual shareholder report (management investment company)

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: 811-00862

The Growth Fund of America, Inc.

(Exact Name of Registrant as Specified in Charter)

P.O. Box 7650, One Market, Steuart Tower

San Francisco, California 94120

(Address of Principal Executive Offices)

Registrant's telephone number, including area code: (415) 421-9360

Date of fiscal year end: August 31

Date of reporting period: February 29, 2008

Patrick F. Quan

Capital Research and Management Company

P.O. Box 7650, One Market, Steuart Tower

San Francisco, California 94120

(Name and Address of Agent for Service)

Copies to:

Michael Glazer

Paul, Hastings, Janofsky & Walker LLP

515 South Flower Street, 25th Floor

Los Angeles, California 90071

(Counsel for the Registrant)

ITEM 1 – Reports to Stockholders

[logo - American Funds®]

The right choice for the long term®

The Growth Fund of America

[photo of two hands on a piano keyboard]

Semi-annual report for the six months ended February 29, 2008

The Growth Fund of America® invests in a wide range of companies that appear to offer superior opportunities for growth of capital.

This fund is one of the 30 American Funds. American Funds is one of the nation’s largest mutual fund families. For more than 75 years, Capital Research and Management Company,SM the American Funds adviser, 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 (maximum 5.75%) 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. For current information and month-end results, visit americanfunds.com.

Here are the average annual total returns on a $1,000 investment with all distributions reinvested for periods ended March 31, 2008 (the most recent calendar quarter-end):

	1 year			5 years			10 years
Class A shares
Reflecting 5.75% maximum sales charge		–4.99	%		13.25	%		8.66	%

The total annual fund operating expense ratio for Class A shares as of the most recent fiscal year-end was 0.64%. This figure does not reflect a fee waiver currently in effect; therefore, the actual expense ratio is lower.

The fund’s investment adviser waived 5% of its management fees from September 1, 2004, through March 31, 2005, and increased the waiver to 10% on April 1, 2005. Fund results shown reflect actual expenses, with the waiver applied. Fund results would have been lower without the waiver. Please see the Financial Highlights table on pages 22 to 25 for details.

Results for other share classes can be found on page 28.

Fellow shareholders:

[photo of two hands on a piano keyboard]

The U.S. economy slowed and stock markets declined during the past six months ended February 29, 2008. The U.S. subprime mortgage crisis spread from the housing industry to financial companies and banks around the world. Market turbulence was driven by significant losses by many large financial companies and hedge funds and a tightening of credit for small and large borrowers. In an attempt to boost the economy, the Federal Reserve lowered the federal funds rate during the period from 5.25% to 3.0%.

In this troubled environment, The Growth Fund of America (GFA) posted a total return of –4.8%. As the table below shows, GFA’s total return exceeded the –8.8% total return of the unmanaged Standard & Poor’s 500 Composite Index, a broad measure of primarily large U.S. stocks. Although we are not satisfied to show a loss for the period, we are a little gratified that the fund outpaced the S&P 500 and three of our four Lipper peer indexes in these rough conditions.

[Begin Sidebar]

Results at a glance
Total returns for periods ended February 29, 2008, with all distributions reinvested
							Average annual
	Six-month			1 year			5 years			Lifetime*
The Growth Fund of America		–4.8	%		3.6	%		15.0	%		15.0	%
Standard & Poor’s 500 Composite Index†		–8.8			–3.6			11.6			11.5
Lipper Capital Appreciation Funds Index		–0.7			7.2			14.4			11.7
Lipper Growth Funds Index		–8.7			–3.0			10.7			10.4
Lipper Multi-Cap Core Funds Index		–8.2			–3.4			12.9			11.1
Lipper Multi-Cap Growth Funds Index		–6.6			0.3			13.2			11.4
*Since Capital Research and Management Company began managing the fund on December 1, 1973.
† Unmanaged.

[End Sidebar]

For the past 12 months ended February 29, 2008, GFA posted a total return of 3.6% while the S&P 500 showed a loss of 3.6%. The fund also exceeded three of its four Lipper peer indexes. Over the longer periods, GFA has continued to outpace the general market and fund’s peer indexes by significant margins.

Investment results analysis

Materials and metals companies, agricultural producers and energy exploration and production businesses made significant contributions during the six-month period. Their growth was partially the result of growing demand for their products in developing countries such as China, India, Brazil and Russia, which helped the prices of underlying commodities to rise. Among the largest gainers were fertilizer manufacturer Potash Corporation of Saskatchewan (79.4%) and EOG Resources (76.6%), an oil and gas exploration and production company.

A wide-ranging collection of other companies helped. Contributors among our 10 largest holdings included Berkshire Hathaway, the fund’s eighth largest with interests in insurance and reinsurance (18.3%), Roche Holding, the fund’s third largest and a world leader in pharmaceuticals (12.9%) and Nokia, our fifth largest and a leading cell phone and network infrastructure concern (9.4%).

Telecommunications services and consumer discretionary stocks like retailing hurt results. Sprint Nextel, a wireless telecommunications company, declined 62.4% because it has been losing market share, suffering disappointing results and undergoing management change. Two of the nation’s largest retailers lost ground because of fears of a weakening U.S. economy and the housing industry slump. They are Target, our ninth-largest holding which operates the second-largest chain of discount stores in the United States (–20.2%) and Lowe’s, our tenth-largest, which is among America’s largest do-it-yourself home improvement retailers (–22.8%).

Many financial service companies, mortgage finance companies, banks, and savings and loans in the U.S. and worldwide have been seriously affected by the meltdown in the subprime mortgage industry and credit markets in general. Securitization (the packaging of hundreds of individual mortgage loans into securities to be sold to investors around the world) spread the risk to many parties, but added complexity and clearly did not make the risk disappear. Many companies also used 90-day commercial paper to finance the 30-year mortgages, adding potential hazard to the transactions. The difficulties of the subprime mortgage industry have accelerated in the past six months and helped lead to a credit crunch inside and outside the U.S.

While any exposure to the financials sector of the stock market was harmful to results during the past six months, we are pleased that GFA had a relatively small position in financials (7.8% of net assets at the beginning of the current fiscal year on August 31, 2007, compared with 20.1% in the S&P 500).

Looking ahead

Will the troubles of Wall Street spread to Main Street? We are in a period where risk and credit are being repriced and financial markets are in some turmoil. While that will cause a decline in liquidity and available capital in the short run, it should be healthy in the long run. It is not clear at this time whether the credit crunch and the housing industry slump will cause a recession in the U.S. or globally. We will be carefully monitoring conditions in the coming months with our global network of investment analysts.

We believe high volatility will continue in the stock market in the months ahead. We hope to use volatility to our advantage as long-term investors by buying stocks on price dips that we find attractive. Our research-driven approach with a long-term perspective should serve us well in this uncertain market.

Our advice to shareholders is to stay on the long-term investment plan that you have carefully worked out with your financial adviser. We welcome our new shareholders and thank our long-term investors for their continuing support of The Growth Fund of America.

Cordially,

/s/ James F. Rothenberg

James F. Rothenberg

Vice Chairman of the Board

/s/ Donald D. O’Neal
Donald D. O’Neal

President

April 10, 2008

For current information about the fund, visit americanfunds.com.

Summary investment portfolio, February 29, 2008

unaudited

The following summary investment portfolio is designed to streamline the report and help investors better focus on a fund’s principal holdings.  For details on how to obtain a complete schedule of portfolio holdings, please see the inside back cover.

[begin pie chart]

Industry Sector Diversification	Percent of net assets
Information technology		19.36	%
Energy		13.79
Consumer discretionary		10.84
Health care		10.71
Financials		8.00
Other industries		25.50
Convertible securities		0.40
Bonds & notes		0.07
Short-term & other assets less liabilities		11.33

[end pie chart]

Largest Equity Holdings	Percent of net assets
Google		2.20	%
Schlumberger		2.17
Roche		1.93
Cisco Systems		1.89
Nokia		1.89
Oracle		1.77
Microsoft		1.76
Berkshire Hathaway		1.46
Target		1.29
Lowe's		1.27

	Shares			Market			Percent
				value			of net
Common stocks  - 88.20%					(000	)	assets
Information technology  - 19.36%
Google Inc., Class A (1)		8,502,500		$	4,006,208			2.20	%
Cisco Systems, Inc. (1)		140,853,500			3,432,600			1.89
Nokia Corp. (ADR)		48,697,174			1,753,585
Nokia Corp. (2)		46,628,000			1,678,221			1.89
Oracle Corp. (1)		171,433,700			3,222,954			1.77
Microsoft Corp.		117,815,000			3,206,924			1.76
Yahoo! Inc. (1)		64,738,000			1,798,422			.99
Apple Inc. (1)		11,344,970			1,418,348			.78
International Business Machines Corp.		10,095,000			1,149,417			.63
Samsung Electronics Co., Ltd. (2)		1,559,169			915,672			.50
Texas Instruments Inc.		27,699,000			829,862			.46
Intel Corp.		38,270,000			763,486			.42
Other securities					11,049,933			6.07
					35,225,632			19.36
Energy  - 13.79%
Schlumberger Ltd.		45,614,440			3,943,368			2.17
Suncor Energy Inc.		18,451,161			1,908,870			1.06
EOG Resources, Inc.  (3)		15,934,900			1,896,094			1.04
Devon Energy Corp.		17,759,900			1,824,297			1.00
Baker Hughes Inc.  (3)		20,304,100			1,366,263			.75
Transocean Inc. (1)		8,907,514			1,251,595			.69
BG Group PLC (2)		46,516,737			1,096,068			.60
Occidental Petroleum Corp.		11,330,000			876,602			.48
Canadian Natural Resources, Ltd.		11,195,000			841,650			.46
CONSOL Energy Inc. (3) (4)		7,400,000			562,252
CONSOL Energy Inc.  (3)		3,456,400			262,617			.45
Other securities					9,254,077			5.09
					25,083,753			13.79
Consumer discretionary  - 10.84%
Target Corp.  (3)		44,784,502			2,356,113			1.29
Lowe's Companies, Inc.  (3)		96,114,400			2,303,862			1.27
Time Warner Inc.		106,794,000			1,667,054			.92
News Corp., Class A		62,134,800			1,143,902			.63
Carnival Corp., units		25,749,180			1,013,230			.56
Best Buy Co., Inc.  (3)		22,663,400			974,753			.54
McDonald's Corp.		17,116,200			926,158			.51
Las Vegas Sands Corp. (1)		9,608,121			800,356			.44
Other securities					8,528,911			4.68
					19,714,339			10.84
Health care  - 10.71%
Roche Holding AG (2)		17,890,000			3,512,266			1.93
Medtronic, Inc.		38,569,000			1,903,766			1.05
UnitedHealth Group Inc.		32,725,000			1,521,058			.84
Eli Lilly and Co.		24,220,000			1,211,484			.67
Genentech, Inc. (1)		14,330,000			1,085,498			.60
Gilead Sciences, Inc. (1)		20,920,000			989,934			.54
Stryker Corp.		13,274,400			864,296			.47
Other securities					8,389,616			4.61
					19,477,918			10.71
Financials  - 8.00%
Berkshire Hathaway Inc., Class A (1)		18,950			2,653,000			1.46
Citigroup Inc.		66,185,600			1,569,261			.86
Fannie Mae  (3)		52,203,870			1,443,437			.79
American International Group, Inc.		29,475,200			1,381,208			.76
Freddie Mac		27,786,050			699,653			.39
Other securities					6,808,902			3.74
					14,555,461			8.00
Industrials  - 6.90%
General Electric Co.		63,830,000			2,115,326			1.16
United Parcel Service, Inc., Class B		18,383,500			1,291,257			.71
Caterpillar Inc.		16,166,000			1,169,287			.64
Boeing Co.		12,400,000			1,026,596			.57
General Dynamics Corp.		11,641,400			952,849			.52
FedEx Corp.		9,730,000			857,505			.47
Other securities					5,139,243			2.83
					12,552,063			6.90
Consumer staples  - 6.71%
Altria Group, Inc.		28,536,700			2,087,174			1.15
PepsiCo, Inc.		23,800,000			1,655,528			.91
Archer Daniels Midland Co.  (3)		36,118,767			1,628,956			.90
Coca-Cola Co.		27,405,000			1,602,096			.88
Walgreen Co.		28,341,100			1,034,734			.57
Other securities					4,189,487			2.30
					12,197,975			6.71
Materials  - 5.42%
Barrick Gold Corp.		32,175,000			1,671,491			.92
Syngenta AG (1) (2) (3)		5,200,000			1,490,714			.82
Potash Corp. of Saskatchewan Inc.		7,218,500			1,147,020			.63
Newmont Mining Corp.		16,898,000			864,671			.48
Other securities					4,695,451			2.57
					9,869,347			5.42
Telecommunications  - 1.31%
Sprint Nextel Corp., Series 1  (3)		180,002,450			1,279,817			.70
Other securities					1,112,481			.61
					2,392,298			1.31
Utilities - 0.40%
Other securities					727,849			.40
Miscellaneous  -  4.76%
Other common stocks in initial period of acquisition					8,657,265			4.76
Total common stocks (cost: $132,993,102,000)					160,453,900			88.20
Preferred stocks  - 0.00%
Other - 0.00%
Other securities					583			.00
Total preferred stocks (cost: $21,000,000)					583			.00
Convertible securities  - 0.40%
Financials  - 0.27%
Citigroup Inc., Series J, 7.00%, noncumulative convertible preferred depositary shares (2) (4)		5,140,000			255,715
Citigroup Inc., Series D, 7.00%, noncumulative convertible preferred (2) (4)		3,750,000			186,562
Citigroup Inc., Series T, 6.50% convertible preferred depositary shares		1,120,000			55,720			.27
					497,997			.27
Miscellaneous  -  0.13%
Other convertible securities in initial period of acquisition					228,383			.13
Total convertible securities (cost: $731,675,000)					726,380			.40
Bonds & notes  - 0.07%
Other - 0.07%
Other securities					117,477			.07
Total bonds & notes (cost: $189,718,000)					117,477			.07
	Principal
	amount
Short-term securities  - 11.12%		(000	)
Federal Home Loan Bank 2.37%-4.86% due 3/5-9/15/2008	$	4,313,695			4,289,441			2.36
U.S. Treasury Bills 2.035%-4.181% due 3/6-7/31/2008		4,161,350			4,146,874			2.28
Freddie Mac 2.45%-4.633% due 3/3-9/9/2008		3,522,351			3,504,501			1.93
Fannie Mae 2.55%-4.30% due 3/4-6/20/2008 (3)		2,286,191			2,276,941			1.25
General Electric Capital Services, Inc. 2.85%-4.61% due 4/8-6/18/2008		216,700			215,297
Edison Asset Securitization LLC 2.93%-3.83% due 3/25-6/9/2008 (5)		152,301			151,411
General Electric Co. 4.13%-4.52% due 3/24-3/28/2008		100,000			99,767
General Electric Capital Corp. 4.61% due 4/4/2008		50,000			49,853			.28
Coca-Cola Co. 2.67%-4.25% due 3/4-5/16/2008 (5)		445,300			443,361			.24
CAFCO, LLC 3.12%-3.19% due 4/4-5/6/2008		150,000			149,359
Ciesco LLC 3.24% due 4/4-5/6/2008 (5)		35,000			34,806			.10
Medtronic Inc. 2.75%-2.80% due 4/10-4/29/2008 (5)		102,100			101,705			.06
NetJets Inc. 2.75%-3.75% due 3/4-4/29/2008 (5)		51,400			51,217			.03
Other securities					4,720,052			2.59
Total short-term securities (cost: $20,212,690,000)					20,234,585			11.12
Total investment securities (cost: $154,148,185,000)					181,532,925			99.79
Other assets less liabilities					385,002			.21
Net assets				$	181,917,927			100.00	%
"Miscellaneous" securities include holdings in their initial period of acquisition that have not previously been publicly disclosed.
"Other securities" includes all issues that are not disclosed separately in the summary investment portfolio.

Investments in affiliates:

A company is considered to be an affiliate of the fund under the Investment Company Act of 1940 if the

fund's holdings in that company represent 5% or more of the outstanding voting shares of that company.

The fund's affiliated holdings listed below are either shown in the preceding summary investment portfolio

or included in the market value of "Other securities" under their respective industry sectors. Further

details on these holdings and related transactions during the six months ended February 29, 2008, appear below.

	Beginning shares or principal amount		Additions		Reductions		Ending shares or principal amount		Dividend and interest income '(000)		Market value of affiliates at 2/29/2008 '(000)
Fannie Mae, short-term securities	$	709,727,000	$	4,471,923,000	$	2,895,459,000	$	2,286,191,000	$	45,558	$	2,276,941
Fannie Mae		50,524,700		6,109,170		4,430,000		52,203,870		46,009		1,443,437
Target Corp.		45,484,502		2,000,000		2,700,000		44,784,502		12,638		2,356,113
Lowe's Companies, Inc.		96,114,400		-		-		96,114,400		15,378		2,303,862
Lowe's Companies, Inc., short-term securities	$	20,000,000	$	22,600,000	$	42,600,000	$	-		109		-
EOG Resources, Inc.		15,885,000		49,900		-		15,934,900		2,859		1,896,094
Archer Daniels Midland Co.		13,000,000		23,118,767		-		36,118,767		6,832		1,628,956
Syngenta AG (1)		5,200,000		-		-		5,200,000		-		1,490,714
Baker Hughes Inc.		17,606,800		2,961,300		264,000		20,304,100		4,894		1,366,263
Sprint Nextel Corp., Series 1		130,289,950		49,712,500		-		180,002,450		7,263		1,279,817
Best Buy Co., Inc.		22,663,400		-		-		22,663,400		5,892		974,753
CONSOL Energy Inc. (4)		7,400,000		-		-		7,400,000		1,480		562,252
CONSOL Energy Inc.		3,456,400		-		-		3,456,400		691		262,617
USX Corp.		7,230,709		2,377,000		2,650,709		6,957,000		2,568		754,487
Kohl's Corp. (1)		12,900,000		3,000,000		-		15,900,000		-		706,596
Qwest Communications International Inc.		114,418,000		7,000,000		-		121,418,000		4,857		655,657
Linear Technology Corp.		19,850,000		-		-		19,850,000		7,742		550,043
KLA-Tencor Corp.		12,940,000		-		-		12,940,000		3,882		543,609
Newfield Exploration Co. (1)		8,264,800		-		-		8,264,800		-		457,705
Intuit Inc. (1)		16,825,000		-		-		16,825,000		-		446,872
Liberty Media Holding Corp., Liberty Interactive, Series A (1)		23,792,500		15,421,100		8,096,100		31,117,500		-		446,847
BJ Services Co.		17,475,000		273,800		1,500,000		16,248,800		1,760		421,494
Maxim Integrated Products, Inc.		15,140,000		1,885,000		-		17,025,000		6,384		311,047
Kerry Group PLC, Class A		8,965,824		-		-		8,965,824		775		282,031
CarMax, Inc. (1)		12,600,000		1,000,000		-		13,600,000		-		249,696
Harman International Industries, Inc.		1,481,900		2,597,000		-		4,078,900		102		168,051
Williams-Sonoma, Inc.		4,605,000		1,315,000		-		5,920,000		1,157		138,291
Patriot Coal Corp. (1)		-		1,658,000		-		1,658,000		-		89,035
Advanced Micro Devices, Inc. (1) (6)		32,240,000		-		19,500,000		12,740,000		-		-
Altera Corp.(6)		23,950,000		-		14,067,350		9,882,650		1,361		-
Analog Devices, Inc.(6)		18,146,666		-		10,136,366		8,010,300		2,545		-
Bunge Ltd.(6)		7,250,000		450,000		4,200,000		3,500,000		1,845		-
Carnival Corp., units (6)		31,600,000		-		5,850,820		25,749,180		21,990		-
International Game Technology (6)		16,800,000		-		2,985,899		13,814,101		4,704		-
Robert Half International Inc.(6)		8,310,000		-		369,200		7,940,800		1,745		-
Sealed Air Corp.(6)		9,271,200		83,100		4,595,400		4,758,900		1,757		-
Southwest Airlines Co.(6)		43,578,877		-		12,189,877		31,389,000		337		-
Xilinx, Inc. (6)		22,700,000		-		8,800,000		13,900,000		4,291		-
									$	219,405	$	24,063,280

The following footnotes apply to either the individual securities noted or one or more of the securities aggregated and listed as a single line item.

(1) Security did not produce income during the last 12 months.

(2) Valued under fair value procedures adopted by authority of the board of directors. The total value of all such securities, including those in "Miscellaneous" and "Other securities," was $22,390,965,000.

(3) Represents an affiliated company as defined under the Investment Company Act of 1940.

(4) Purchased in a transaction exempt from registration under the Securities Act of 1933. May be subject to legal or contractual restrictions on resale. Further details on these holdings appear below.

	Acquisition date	Cost  (000)		Market value (000)		Percent of net assets
CONSOL Energy Inc.	10/2/2003	$	67,784	$	562,252		.31	%
Citigroup Inc., Series J, 7.00%, noncumulative convertible preferred depositary shares	1/15/2008		257,000		255,715		.14
Citigroup Inc., Series D, 7.00%, noncumulative convertible preferred	1/15/2008		187,500		186,562		.10
Other restricted securities			21,162		583		.00
Total restricted securities		$	533,446	$	1,005,112		.55	%

(5) Purchased in a transaction exempt from registration under the Securities Act of 1933. May be resold in the United States in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities, including those in "Other securities," was $3,537,050,000, which represented 1.94% of the net assets of the fund.

(6) Unaffiliated issuer at 2/29/2008.

ADR = American Depositary Receipts

See Notes to Financials Statements

Financial statements

Statement of assets and liabilities			unaudited
at February 29, 2008	(dollars and shares in thousands, except per-share amounts)
Assets:
Investment securities at market:
Unaffiliated issuers (cost: $130,674,451)	$	157,469,645
Affiliated issuers (cost: $23,473,734)		24,063,280	$	181,532,925
Cash				471
Receivables for:
Sales of investments		895,010
Sales of fund's shares		649,849
Dividends and interest		215,859		1,760,718
				183,294,114
Liabilities:
Payables for:
Purchases of investments		730,762
Repurchases of fund's shares		476,466
Investment advisory services		34,726
Services provided by affiliates		130,149
Directors' deferred compensation		2,870
Other		1,214		1,376,187
Net assets at February 29, 2008			$	181,917,927
Net assets consist of:
Capital paid in on shares of capital stock			$	151,264,145
Undistributed net investment income				235,048
Undistributed net realized gain				3,034,049
Net unrealized appreciation				27,384,685
Net assets at February 29, 2008			$	181,917,927

Total authorized capital stock - 7,500,000 shares, $.001 par value (5,770,537 total shares outstanding)
	Net assets		Shares outstanding		Net asset value per share*
Class A	$	84,696,836		2,667,175	$	31.76
Class B		6,981,454		227,733		30.66
Class C		10,599,384		347,332		30.52
Class F		25,042,337		793,776		31.55
Class 529-A		2,797,504		88,491		31.61
Class 529-B		522,488		16,967		30.79
Class 529-C		866,093		28,135		30.78
Class 529-E		144,800		4,612		31.40
Class 529-F		85,218		2,699		31.57
Class R-1		456,129		14,772		30.88
Class R-2		2,736,211		88,297		30.99
Class R-3		13,952,961		446,088		31.28
Class R-4		17,712,685		561,926		31.52
Class R-5		15,323,827		482,534		31.76
(*) Maximum offering price and redemption price per share were equal to the net asset value per share for all share classes, except for Class A and 529-A, for which the maximum offering prices per share were $33.70 and $33.54, respectively.
See Notes to Financial Statements

Statement of operations				unaudited
for the six months ended February 29, 2008	(dollars in thousands)
Investment income:
Income:
Dividends (net of non-U.S.
taxes of $12,787; also includes
$173,738 from affiliates)	$	1,206,689
Interest (
also includes
$45,667 from affiliates)		480,170		$	1,686,859
Fees and expenses(*):
Investment advisory services		251,663
Distribution services		315,014
Transfer agent services		54,053
Administrative services		64,502
Reports to shareholders		2,671
Registration statement and prospectus		2,115
Postage, stationery and supplies		6,086
Directors' compensation		153
Auditing and legal		54
Custodian		2,527
State and local taxes		1
Other		167
Total fees and expenses before reimbursements/waivers		699,006
Less reimbursements/waivers of fees and expenses:
Investment advisory services		25,166
Total fees and expenses after reimbursements/waivers					673,840
Net investment income					1,013,019
Net realized gain and unrealized
depreciation on investments
and currency:
Net realized gain (loss) on:
Investments (including $337,148 net loss from affiliates)		5,811,864
Currency transactions		(1,593	)		5,810,271
Net unrealized depreciation on:
Investments		(16,271,003	)
Currency translations		(30	)		(16,271,033	)
Net realized gain and
unrealized depreciation
on investments and currency					(10,460,762	)
Net decrease in net assets resulting
from operations				$	(9,447,743	)
(*) Additional information related to class-specific fees and expenses is included in the Notes to Financial Statements.
See Notes to Financial Statements
Statements of changes in net assets	(dollars in thousands)
	Six months			Year ended
	ended February 29,			August 31,
		2008	*	2007
Operations:
Net investment income	$	1,013,019		$	1,409,549
Net realized gain on investments and
currency transactions		5,810,271			10,238,287
Net unrealized (depreciation) appreciation
on investments and currency translations		(16,271,033	)		13,658,822
Net (decrease) increase in net assets
resulting from operations		(9,447,743	)		25,306,658
Dividends and distributions paid to
shareholders:
Dividends from net investment income		(1,750,440	)		(1,161,226	)
Distributions from net realized gain
on investments		(11,006,086	)		(5,227,303	)
Total dividends and distributions paid
to shareholders		(12,756,526	)		(6,388,529	)
Net capital share transactions		18,212,971			19,924,752
Total (decrease) increase in net assets		(3,991,298	)		38,842,881
Net assets:
Beginning of period		185,909,225			147,066,344
End of period (including
undistributed
net investment income: $235,048 and $972,469, respectively)	$	181,917,927		$	185,909,225
*Unaudited.
See Notes to Financial Statements

Notes to financial statements               

                                                                                                      unaudited

1.   Organization and significant accounting policies

Organization – The Growth Fund of America, Inc. (the "fund") is registered under the Investment Company Act of 1940 as an open-end, diversified management investment company.  The fund invests in a wide range of companies that appear to offer superior opportunities for growth of capital.

The fund offers 14 share classes consisting of four retail share classes, five 529 college savings plan share classes and five retirement plan share classes. The 529 college savings plan share classes (529-A, 529-B, 529-C, 529-E and 529-F) can be utilized to save for college education. The five retirement plan share classes (R-1, R-2, R-3, R-4 and R-5) are sold without any sales charges and do not carry any conversion rights.The fund’s share classes are described below:

Share class	Initial sales charge	Contingent deferred sales charge upon redemption	Conversion feature
Class A and 529-A	Up to 5.75%	None (except 1% for certain redemptions within one year of purchase without an initial sales charge)	None
Class B and 529-B	None	Declines from 5% to 0% for redemptions within six years of purchase	Class B and 529-B convert to Class 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 after 10 years
Class 529-C	None	1% for redemptions within one year of purchase	None
Class 529-E	None	None	None
Class F and 529-F	None	None	None
Class R-1, R-2, R-3, R-4 and R-5	None	None	None

Holders of all share classes have equal pro rata rights to assets, dividends and liquidation proceeds.Each share class has identical voting rights, except for the exclusive right to vote on matters affecting only its class. Share classes have different fees and expenses ("class-specific fees and expenses"), primarily due to different arrangements for distribution, administrative and shareholder services. Differences in class-specific fees and expenses will result in differences in net investment income and, therefore, the payment of different per-share dividends by each class.

Significant accounting policies – The financial statements have been prepared to comply with accounting principles generally accepted in the United States of America. These principles require management to make estimates and assumptions that affect reported amounts and disclosures. Actual results could differ from those estimates. The following is a summary of the significant accounting policies followed by the fund:

Security valuation – Equity securities are valued at the official closing price of, or the last reported sale price on, the exchange or market on which such securities are traded, as of the close of business on the day the securities are being valued or, lacking any sales, at the last available bid price. Prices for each security are taken from the principal exchange or market in which the security trades. Fixed-income securities, including short-term securities purchased with more than 60 days left to maturity, are valued at prices obtained from an independent pricing service when such prices are available. However, where the investment adviser deems it appropriate, such securities will be valued at the mean quoted bid and asked prices (or bid prices, if asked prices are not available) or at prices for securities of comparable maturity, quality and type. Securities with both fixed-income and equity characteristics, or equity securities traded principally among fixed-income dealers, are valued in the manner described above for either equity or fixed-income securities, depending on which method is deemed most appropriate by the investment adviser. Short-term securities purchased within 60 days to maturity are valued at amortized cost, which approximates market value. The value of short-term securities originally purchased with maturities greater than 60 days is determined based on an amortized value to par when they reach 60 days or less remaining to maturity. The ability of the issuers of the debt securities held by the fund to meet their obligations may be affected by economic developments in a specific industry, state or region.

Securities and other assets for which representative market quotations are not readily available or are considered unreliable by the investment adviser are fair valued as determined in good faith under procedures adopted by authority of the fund's board of directors. Market quotations may be considered unreliable if events occur that materially affect the value of securities (particularly securities outside the U.S.) between the close of trading in those securities and the close of regular trading on the New York Stock Exchange. Various factors may be reviewed in order to make a good faith determination of a security’s fair value. These factors include, but are not limited to, the type and cost of the security; contractual or legal restrictions on resale of the security; relevant financial or business developments of the issuer; actively traded similar or related securities; conversion or exchange rights on the security; related corporate actions; significant events occurring after the close of trading in the security; and changes in overall market conditions.

Security transactions and related investment income – Security transactions are recorded by the fund as of the date the trades are executed with brokers. Realized gains and losses from security transactions are determined based on the specific identified cost of the securities. Dividend income is recognized on the ex-dividend date and interest income is recognized on an accrual basis. Market discounts, premiums and original issue discounts on fixed-income securities are amortized daily over the expected life of the security.

Class allocations – Income, fees and expenses (other than class-specific fees and expenses) and realized and unrealized gains and losses are allocated daily among the various share classes based on their relative net assets.  Class-specific fees and expenses, such as distribution, administrative and shareholder services, are charged directly to the respective share class.

Dividends and distributions to shareholders –Dividends and distributions paid to shareholders are recorded on the ex-dividend date.

Currency translation – Assets and liabilities, including investment securities, denominated in currencies other than U.S. dollars are translated into U.S. dollars at the exchange rates in effect on the valuation date. Purchases and sales of investment securities and income and expenses are translated into U.S. dollars at the exchange rates on the dates of such transactions. On the accompanying financial statements, the effects of changes in exchange rates on investment securities are included with the net realized gain or loss and net unrealized appreciation or depreciation on investments. The realized gain or loss and unrealized appreciation or depreciation resulting from all other transactions denominated in currencies other than U.S. dollars are disclosed separately.

2.   Investments outside the U.S.

Investment risk – The risks of investing in securities of issuers outside the U.S. may include, but are not limited to, investment and repatriation restrictions; revaluation of currencies; adverse political, social and economic developments; government involvement in the private sector; limited and less reliable investor information; lack of liquidity; certain local tax law considerations; and limited regulation of the securities markets.

Taxation – Dividend and interest income is recorded net of non-U.S. taxes paid. Gains realized by the fund on the sale of securities in certain countries are subject to taxes in those countries. The fund records a liability based on unrealized gains to provide for potential taxes payable upon the sale of these securities. For the six months ended February 29, 2008, there were no non-U.S. taxes paid on realized gains. As of February 29, 2008, non-U.S. taxes provided on unrealized gains were $88,000.

3.   Federal Income taxation and distributions

The fund complies with the requirements under Subchapter M of the Internal Revenue Code applicable to mutual funds and intends to distribute substantially all of its net taxable income and net capital gains each year. The fund is not subject to income taxes to the extent such distributions are made. Therefore, no federal income tax provision is required.

As of and during the period ended February 29, 2008, the fund did not have a liability for any unrecognized tax benefits. The fund recognizes interest and penalties, if any, related to unrecognized tax benefits as income tax expense in the statement of operations. During the period, the fund did not incur any interest or penalties.

The fund is not subject to examination by U.S. federal tax authorities for tax years before 2003, by state tax authorities for tax years before 2002 and by tax authorities outside the U.S. for tax years before 2005.

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 differing treatment for items such as currency gains and losses; cost of investments sold; short-term capital gains and losses; and capital losses related to sales of certain securities within 30 days of purchase.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 fund for financial reporting purposes. The fund may also designate a portion of the amount paid to redeeming shareholders as a distribution for tax purposes.

During the six months ended February 29, 2008, the fund reclassified $200,000,000 from undistributed net realized gain to capital paid in on shares of capital stock to align financial reporting with tax reporting.

The components of distributable earnings on a tax basis are reported as of the fund’s most recent year-end. As of August 31, 2007, the fund had tax basis undistributed ordinary income of $1,015,987,000, currency loss deferrals (realized during the period November 1, 2006, through August 31, 2007) of $14,906,000 and undistributed long-term capital gain of $8,503,536,000.

As of February 29, 2008, the tax basis unrealized appreciation (depreciation) and cost of investment securities were as follows:

(dollars in thousands)
Gross unrealized appreciation on investment securities	$	39,026,577
Gross unrealized depreciation on investment securities		(11,736,444	)
Net unrealized appreciation on investment securities		27,290,133
Cost of investment securities		154,242,792

The tax character of distributions paid to shareholders was as follows (dollars in thousands):

	Six months ended February 29, 2008						Year ended August 31, 2007
	Ordinary income		Long-term capital gains		Total distributions paid		Ordinary income		Long-term capital gains		Total distributions paid
Share class
Class A	$	903,273	$	5,171,251	$	6,074,524	$	671,779	$	2,697,906	$	3,369,685
Class B		21,976		447,565		469,541		8,977		242,027		251,004
Class C		32,443		672,744		705,187		12,202		331,416		343,618
Class F		273,603		1,522,731		1,796,334		174,938		659,692		834,630
Class 529-A		27,787		163,685		191,472		17,863		71,741		89,604
Class 529-B		1,234		32,345		33,579		328		15,487		15,815
Class 529-C		2,308		52,567		54,875		790		23,228		24,018
Class 529-E		1,036		8,617		9,653		641		3,887		4,528
Class 529-F		1,001		4,939		5,940		590		1,951		2,541
Class R-1		1,728		26,559		28,287		831		9,899		10,730
Class R-2		9,503		169,692		179,195		3,222		79,120		82,342
Class R-3		108,674		838,177		946,851		64,602		360,175		424,777
Class R-4		181,296		1,061,860		1,243,156		113,639		456,380		570,019
Class R-5		184,578		833,354		1,017,932		90,824		274,394		365,218
Total	$	1,750,440	$	11,006,086	$	12,756,526	$	1,161,226	$	5,227,303	$	6,388,529

4.   Fees and transactions with related parties

Capital Research and Management Company ("CRMC"), the fund’s investment adviser, is the parent company of American Funds Service Company SM ("AFS"), the fund’s transfer agent, and American Funds Distributors, SM Inc. ("AFD"), the principal underwriter of the fund’s shares.

Investment advisory services - The Investment Advisory and Service Agreement with CRMC providesfor monthly fees accrued daily. These fees are based on a declining series of annual rates beginning with 0.50% on the first $1 billion of daily net assets and decreasing to 0.233% on such assets in excess of $210 billion. CRMC is currently waiving 10% of investment advisory services fees. During the six months ended February 29, 2008, total investment advisory services fees waived by CRMC were $25,166,000. As a result, the fee shown on the accompanying financial statements of $251,663,000, which was equivalent to an annualized rate of 0.266%, was reduced to $226,497,000, or 0.239% of average daily net assets.

Class-specific fees and expenses – Expenses that are specific to individual share classes are accrued directly to the respective share class. The principal class-specific fees and expenses are described below/on the following page:

Distribution services – The fund has adopted plans of distribution for all share classes, except Class R-5. Under the plans, the board of directors 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 0.25% to 1.00% as noted. below/on the following page In some cases, the board of directors has limited the amounts that may be paid to less than the maximum allowed by the plans. All share classes 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.

For Class A and 529-A, the board of directors has also approved the reimbursement of dealer and wholesaler commissions paid by AFD for certain shares sold without a sales charge. These classes reimburse AFD for amounts billed within the prior 15 months but only to the extent that the overall annual expense limit of 0.25% is not exceeded. As of February 29, 2008, there were no unreimbursed expenses subject to reimbursement for Class A or 529-A.

Share class	Currently approved limits	Plan limits
Class A	0.25%	0.25%
Class 529-A	0.25	0.50
Class B and 529-B	1.00	1.00
Class C, 529-C and R-1	1.00	1.00
Class R-2	0.75	1.00
Class 529-E and R-3	0.50	0.75
Class F, 529-F and R-4	0.25	0.50

Transfer agent services –The fund has a transfer agent agreement with AFS for Class A and B. Under this agreement, these share classes compensate AFS for transfer agent services including shareholder recordkeeping, communications and transaction processing. AFS is also compensated for certain transfer agent services provided to all other share classes from the administrative services fees paid to CRMC described below.

Administrative services – The fund has an administrative services agreement with CRMC to provide transfer agent and other related shareholder services for all share classes other than Class A and B. Each relevant share class pays CRMC annual fees up to 0.15% (0.10% for Class R-5) based on its respective average daily net assets. Each relevant share class also pays AFS additional amounts for certain transfer agent services. CRMC and AFS may use these fees to compensate third parties for performing these services. Each 529 share class is subject to an additional annual administrative services fee of 0.10% of its respective average daily net assets; this fee is payable to the Commonwealth of Virginia for the maintenance of the 529 college savings plan.Although these amounts are included with administrative services fees on the accompanying financial statements, the Commonwealth of Virginia is not considered a related party.

Expenses under the agreements described above/on the previous page for the six months ended February 29, 2008, were as follows (dollars in thousands):

Share class	Distribution services	Transfer agent services	Administrative services
			CRMC administrative services	Transfer agent services	Commonwealth of Virginia administrative services
Class A	$107,387	$50,205	Not applicable	Not applicable	Not applicable
Class B	37,530	3,848	Not applicable	Not applicable	Not applicable
Class C	55,922	Included in administrative services	$7,225	$1,018	Not applicable
Class F	32,554		12,395	974	Not applicable
Class 529-A	2,791		1,306	201	$ 1,413
Class 529-B	2,713		251	68	271
Class 529-C	4,398		406	99	440
Class 529-E	368		68	10	74
Class 529-F	-		39	6	43
Class R-1	2,213		273	54	Not applicable
Class R-2	10,726		2,116	2,670	Not applicable
Class R-3	35,556		10,253	2,081	Not applicable
Class R-4	22,856		13,501	172	Not applicable
Class R-5	Not applicable		7,009	65	Not applicable
Total	$315,014	$54,053	$54,843	$7,418	$2,241

Directors’ deferred compensation – Since the adoption of the deferred compensation plan in 1993, directors who are unaffiliated with CRMCmay elect to defer the cash payment of part or all of their compensation. These deferred amounts, which remain as liabilities of the fund, are treated as if invested in shares of the fund or other American Funds. These amounts represent general, unsecured liabilities of the fund and vary according to the total returns of the selected funds. Directors’ compensation of $153,000, shown on the accompanying financial statements, includes $184,000 in current fees (either paid in cash or deferred) and a net decrease of $31,000 in the value of the deferred amounts.

Affiliated officers and directors – Officers and certain directors of the fund are or may be considered to be affiliated with CRMC, AFS and AFD. No affiliated officers or directors received any compensation directly from the fund.

5.   Capital share transactions

Capital share transactions in the fund were as follows (dollars and shares in thousands):

Share class	Sales *				Reinvestments of dividends and distributions				Repurchases *						Net increase  (decrease)
	Amount		Shares		Amount		Shares		Amount			Shares			Amount			Shares
Six months February 29, 2008
Class A	$	6,227,476		178,588	$	5,849,230		175,074	$	(7,133,272	)		(206,114	)	$	4,943,434			147,548
Class B		243,662		7,233		450,164		13,937		(457,273	)		(13,738	)		236,553			7,432
Class C		938,247		27,939		671,982		20,902		(810,086	)		(24,483	)		800,143			24,358
Class F		4,194,926		121,170		1,440,956		43,415		(2,897,254	)		(85,189	)		2,738,628			79,396
Class 529-A		312,544		9,046		191,441		5,756		(97,049	)		(2,812	)		406,936			11,990
Class 529-B		33,034		981		33,577		1,035		(15,743	)		(473	)		50,868			1,543
Class 529-C		102,534		3,045		54,865		1,691		(38,101	)		(1,137	)		119,298			3,599
Class 529-E		14,836		432		9,649		292		(5,465	)		(159	)		19,020			565
Class 529-F		13,774		399		5,939		179		(4,928	)		(144	)		14,785			434
Class R-1		119,691		3,537		28,116		864		(46,707	)		(1,384	)		101,100			3,017
Class R-2		527,891		15,536		179,008		5,483		(456,697	)		(13,507	)		250,202			7,512
Class R-3		2,916,596		84,701		945,367		28,717		(1,872,261	)		(54,831	)		1,989,702			58,587
Class R-4		3,525,816		101,660		1,243,079		37,487		(2,746,235	)		(79,874	)		2,022,660			59,273
Class R-5		4,806,227		136,978		1,010,318		30,258		(1,296,903	)		(37,270	)		4,519,642			129,966
Total net increase
(decrease)	$	23,977,254		691,245	$	12,113,691		365,090	$	(17,877,974	)		(521,115	)	$	18,212,971			535,220
Year ended August 31, 2007
Class A	$	12,042,117		354,674	$	3,248,280		98,314	$	(13,722,764	)		(403,123	)	$	1,567,633			49,865
Class B		560,940		17,121		240,853		7,522		(861,237	)		(26,160	)		(59,444	)		(1,517	)
Class C		2,022,398		61,894		327,997		10,282		(1,420,162	)		(43,287	)		930,233			28,889
Class F		8,109,384		240,075		680,031		20,701		(3,424,868	)		(100,887	)		5,364,547			159,889
Class 529-A		553,119		16,344		89,592		2,722		(151,259	)		(4,441	)		491,452			14,625
Class 529-B		65,970		2,000		15,814		492		(24,822	)		(749	)		56,962			1,743
Class 529-C		189,186		5,735		24,011		746		(63,430	)		(1,907	)		149,767			4,574
Class 529-E		28,305		843		4,528		138		(10,408	)		(309	)		22,425			672
Class 529-F		25,527		754		2,541		77		(6,712	)		(198	)		21,356			633
Class R-1		183,664		5,554		10,675		331		(67,150	)		(2,015	)		127,189			3,870
Class R-2		972,347		29,252		82,234		2,541		(683,601	)		(20,464	)		370,980			11,329
Class R-3		5,268,904		156,917		424,134		13,002		(3,060,192	)		(91,197	)		2,632,846			78,722
Class R-4		6,509,287		193,101		569,783		17,361		(3,508,429	)		(103,586	)		3,570,641			106,876
Class R-5		5,996,052		176,021		360,877		10,926		(1,678,764	)		(49,027	)		4,678,165			137,920
Total net increase
(decrease)	$	42,527,200		1,260,285	$	6,081,350		185,155	$	(28,683,798	)		(847,350	)	$	19,924,752			598,090
* Includes exchanges between share classes of the fund.

6.   Investment transactions

The fund made purchases and sales of investment securities, excluding short-term securities, of $28,010,634,000 and $27,350,658,000, respectively, during the six months ended February 29, 2008.

Financial highlights (1)

					(Loss) income from investment operations(2)											Dividends and distributions
			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)			Distributions (from capital gains)			Total dividends and distributions			Net asset value, end of period		Total return (3) (4)			Net assets, end of period (in millions)		Ratio of expenses to average net assets before reimbursements /waivers					Ratio of expenses to average net assets after reimbursements /waivers (4)					Ratio of net income (loss) to average net assets (4)
Class A:
Six months ended 2/29/2008	(5	)	$	35.77	$	.21				$	(1.80	)	$	(1.59	)	$	(.36	)	$	(2.06	)	$	(2.42	)	$	31.76		(4.79	)%	$	84,697		.63	%	(6	)		.61	%	(6	)		1.18	%	(6	)
Year ended 8/31/2007				31.93		.32					4.89			5.21			(.27	)		(1.10	)		(1.37	)		35.77		16.69			90,125		.64					.62					.94
Year ended 8/31/2006				29.51		.28					2.56			2.84			(.19	)		(.23	)		(.42	)		31.93		9.66			78,854		.65					.63					.89
Year ended 8/31/2005				24.43		.21					4.96			5.17			(.09	)		-			(.09	)		29.51		21.20			67,793		.68					.66					.76
Year ended 8/31/2004				22.49		.05					1.90			1.95			(.01	)		-			(.01	)		24.43		8.65			52,432		.70					.70					.20
Year ended 8/31/2003				18.57		.06					3.88			3.94			(.02	)		-			(.02	)		22.49		21.23			41,267		.76					.76					.28
Class B:
Six months ended 2/29/2008	(5	)		34.48		.07					(1.73	)		(1.66	)		(.10	)		(2.06	)		(2.16	)		30.66		(5.14	)		6,981		1.39		(6	)		1.36		(6	)		.42		(6	)
Year ended 8/31/2007				30.83		.06					4.73			4.79			(.04	)		(1.10	)		(1.14	)		34.48		15.82			7,596		1.39					1.36					.20
Year ended 8/31/2006				28.55		.04					2.47			2.51			-			(.23	)		(.23	)		30.83		8.80			6,839		1.40					1.38					.14
Year ended 8/31/2005				23.73		-		(7	)		4.82			4.82			-			-			-			28.55		20.31			6,098		1.43					1.41					.01
Year ended 8/31/2004				22.00		(.13	)				1.86			1.73			-			-			-			23.73		7.86			4,788		1.44					1.44					(.55	)
Year ended 8/31/2003				18.28		(.09	)				3.81			3.72			-			-			-			22.00		20.35			3,490		1.53					1.53					(.49	)
Class C:
Six months ended 2/29/2008	(5	)		34.34		.06					(1.72	)		(1.66	)		(.10	)		(2.06	)		(2.16	)		30.52		(5.16	)		10,599		1.43		(6	)		1.40		(6	)		.38		(6	)
Year ended 8/31/2007				30.73		.05					4.70			4.75			(.04	)		(1.10	)		(1.14	)		34.34		15.74			11,091		1.45					1.42					.14
Year ended 8/31/2006				28.47		.02					2.47			2.49			-			(.23	)		(.23	)		30.73		8.75			9,036		1.47					1.44					.07
Year ended 8/31/2005				23.68		(.01	)				4.80			4.79			-			-			-			28.47		20.23			7,054		1.48					1.46					(.05	)
Year ended 8/31/2004				21.96		(.14	)				1.86			1.72			-			-			-			23.68		7.83			4,814		1.50					1.50					(.60	)
Year ended 8/31/2003				18.26		(.10	)				3.80			3.70			-			-			-			21.96		20.26			2,762		1.55					1.55					(.52	)
Class F:
Six months ended 2/29/2008	(5	)		35.56		.20					(1.78	)		(1.58	)		(.37	)		(2.06	)		(2.43	)		31.55		(4.79	)		25,042		.63		(6	)		.60		(6	)		1.18		(6	)
Year ended 8/31/2007				31.76		.32					4.87			5.19			(.29	)		(1.10	)		(1.39	)		35.56		16.71			25,404		.63					.61					.95
Year ended 8/31/2006				29.37		.28					2.54			2.82			(.20	)		(.23	)		(.43	)		31.76		9.62			17,613		.64					.61					.91
Year ended 8/31/2005				24.33		.20					4.94			5.14			(.10	)		-			(.10	)		29.37		21.18			12,122		.70					.68					.73
Year ended 8/31/2004				22.41		.04					1.90			1.94			(.02	)		-			(.02	)		24.33		8.66			7,237		.72					.72					.17
Year ended 8/31/2003				18.53		.05					3.87			3.92			(.04	)		-			(.04	)		22.41		21.22			3,721		.75					.75					.28
Class 529-A:
Six months ended 2/29/2008	(5	)		35.62		.19					(1.79	)		(1.60	)		(.35	)		(2.06	)		(2.41	)		31.61		(4.84	)		2,798		.69		(6	)		.66		(6	)		1.12		(6	)
Year ended 8/31/2007				31.81		.31					4.87			5.18			(.27	)		(1.10	)		(1.37	)		35.62		16.66			2,725		.69					.66					.90
Year ended 8/31/2006				29.42		.27					2.54			2.81			(.19	)		(.23	)		(.42	)		31.81		9.57			1,968		.68					.66					.86
Year ended 8/31/2005				24.38		.19					4.95			5.14			(.10	)		-			(.10	)		29.42		21.13			1,386		.73					.71					.69
Year ended 8/31/2004				22.47		.04					1.90			1.94			(.03	)		-			(.03	)		24.38		8.63			815		.74					.74					.16
Year ended 8/31/2003				18.56		.07					3.88			3.95			(.04	)		-			(.04	)		22.47		21.35			409		.67					.67					.36
Class 529-B:
Six months ended 2/29/2008	(5	)		34.62		.05					(1.74	)		(1.69	)		(.08	)		(2.06	)		(2.14	)		30.79		(5.21	)		523		1.50		(6	)		1.47		(6	)		.31		(6	)
Year ended 8/31/2007				30.97		.03					4.74			4.77			(.02	)		(1.10	)		(1.12	)		34.62		15.69			534		1.51					1.48					.08
Year ended 8/31/2006				28.71		.01					2.48			2.49			-			(.23	)		(.23	)		30.97		8.68			424		1.52					1.50					.02
Year ended 8/31/2005				23.91		(.04	)				4.84			4.80			-			-			-			28.71		20.08			335		1.59					1.57					(.16	)
Year ended 8/31/2004				22.20		(.18	)				1.89			1.71			-			-			-			23.91		7.70			219		1.62					1.62					(.72	)
Year ended 8/31/2003				18.48		(.12	)				3.84			3.72			-			-			-			22.20		20.13			120		1.66					1.66					(.63	)
Class 529-C:
Six months ended 2/29/2008	(5	)		34.62		.05					(1.74	)		(1.69	)		(.09	)		(2.06	)		(2.15	)		30.78		(5.21	)		866		1.50		(6	)		1.47		(6	)		.31		(6	)
Year ended 8/31/2007				30.99		.03					4.74			4.77			(.04	)		(1.10	)		(1.14	)		34.62		15.66			849		1.50					1.48					.08
Year ended 8/31/2006				28.72		.01					2.49			2.50			-			(.23	)		(.23	)		30.99		8.71			619		1.52					1.49					.03
Year ended 8/31/2005				23.91		(.04	)				4.85			4.81			-			-			-			28.72		20.12			447		1.58					1.56					(.15	)
Year ended 8/31/2004				22.21		(.17	)				1.87			1.70			-			-			-			23.91		7.65			273		1.61					1.61					(.71	)
Year ended 8/31/2003				18.48		(.12	)				3.85			3.73			-			-			-			22.21		20.18			136		1.65					1.65					(.61	)
Class 529-E:
Six months ended 2/29/2008	(5	)		35.34		.14					(1.77	)		(1.63	)		(.25	)		(2.06	)		(2.31	)		31.40		(4.95	)		145		.99		(6	)		.96		(6	)		.82		(6	)
Year ended 8/31/2007				31.58		.20					4.84			5.04			(.18	)		(1.10	)		(1.28	)		35.34		16.29			143		.99					.97					.59
Year ended 8/31/2006				29.23		.17					2.52			2.69			(.11	)		(.23	)		(.34	)		31.58		9.21			107		1.00					.97					.54
Year ended 8/31/2005				24.22		.10					4.92			5.02			(.01	)		-			(.01	)		29.23		20.73			76		1.06					1.04					.36
Year ended 8/31/2004				22.37		(.05	)				1.90			1.85			-			-			-			24.22		8.27			44		1.09					1.09					(.19	)
Year ended 8/31/2003				18.55		(.02	)				3.87			3.85			(.03	)		-			(.03	)		22.37		20.78			23		1.11					1.11					(.08	)
Class 529-F:
Six months ended 2/29/2008	(5	)	$	35.61	$	.23				$	(1.79	)	$	(1.56	)	$	(.42	)	$	(2.06	)	$	(2.48	)	$	31.57		(4.74	)%	$	85		.49	%	(6	)		.46	%	(6	)		1.31	%	(6	)
Year ended 8/31/2007				31.80		.37					4.87			5.24			(.33	)		(1.10	)		(1.43	)		35.61		16.86			81		.49					.47					1.09
Year ended 8/31/2006				29.38		.33					2.53			2.86			(.21	)		(.23	)		(.44	)		31.80		9.79			52		.50					.47					1.05
Year ended 8/31/2005				24.34		.19					4.94			5.13			(.09	)		-			(.09	)		29.38		21.12			30		.72					.70					.70
Year ended 8/31/2004				22.45		.02					1.89			1.91			(.02	)		-			(.02	)		24.34		8.53			16		.84					.84					.07
Period from 9/16/2002 to 8/31/2003				18.39		.03					4.06			4.09			(.03	)		-			(.03	)		22.45		22.27			5		.86		(6	)		.86		(6	)		.16		(6	)
Class R-1:
Six months ended 2/29/2008	(5	)		34.76		.06					(1.75	)		(1.69	)		(.13	)		(2.06	)		(2.19	)		30.88		(5.18	)		456		1.43		(6	)		1.40		(6	)		.38		(6	)
Year ended 8/31/2007				31.13		.05					4.77			4.82			(.09	)		(1.10	)		(1.19	)		34.76		15.79			408		1.43					1.40					.16
Year ended 8/31/2006				28.88		.03					2.49			2.52			(.04	)		(.23	)		(.27	)		31.13		8.75			245		1.45					1.42					.11
Year ended 8/31/2005				24.02		(.01	)				4.87			4.86			-			-			-			28.88		20.23			122		1.47					1.44					(.05	)
Year ended 8/31/2004				22.28		(.15	)				1.89			1.74			-			-			-			24.02		7.81			57		1.51					1.51					(.61	)
Year ended 8/31/2003				18.53		(.11	)				3.87			3.76			(.01	)		-			(.01	)		22.28		20.29			23		1.59					1.53					(.53	)
Class R-2:
Six months ended 2/29/2008	(5	)		34.84		.08					(1.75	)		(1.67	)		(.12	)		(2.06	)		(2.18	)		30.99		(5.13	)		2,736		1.36		(6	)		1.33		(6	)		.45		(6	)
Year ended 8/31/2007				31.16		.05					4.77			4.82			(.04	)		(1.10	)		(1.14	)		34.84		15.76			2,815		1.42					1.40					.16
Year ended 8/31/2006				28.86		.03					2.50			2.53			-			(.23	)		(.23	)		31.16		8.77			2,164		1.46					1.43					.09
Year ended 8/31/2005				24.01		(.01	)				4.86			4.85			-			-			-			28.86		20.20			1,567		1.51					1.45					(.04	)
Year ended 8/31/2004				22.26		(.14	)				1.89			1.75			-			-			-			24.01		7.86			857		1.60					1.48					(.57	)
Year ended 8/31/2003				18.53		(.10	)				3.86			3.76			(.03	)		-			(.03	)		22.26		20.29			305		1.82					1.49					(.49	)
Class R-3:
Six months ended 2/29/2008	(5	)		35.23		.15					(1.77	)		(1.62	)		(.27	)		(2.06	)		(2.33	)		31.28		(4.94	)		13,953		.95		(6	)		.92		(6	)		.86		(6	)
Year ended 8/31/2007				31.49		.21					4.83			5.04			(.20	)		(1.10	)		(1.30	)		35.23		16.33			13,652		.96					.93					.63
Year ended 8/31/2006				29.15		.18					2.52			2.70			(.13	)		(.23	)		(.36	)		31.49		9.30			9,724		.96					.94					.59
Year ended 8/31/2005				24.18		.12					4.91			5.03			(.06	)		-			(.06	)		29.15		20.83			6,389		.96					.94					.46
Year ended 8/31/2004				22.35		(.03	)				1.88			1.85			(.02	)		-			(.02	)		24.18		8.28			3,148		1.05					1.05					(.14	)
Year ended 8/31/2003				18.55		(.02	)				3.86			3.84			(.04	)		-			(.04	)		22.35		20.75			743		1.11					1.11					(.11	)
Class R-4:
Six months ended 2/29/2008	(5	)		35.52		.20					(1.79	)		(1.59	)		(.35	)		(2.06	)		(2.41	)		31.52		(4.82	)		17,713		.68		(6	)		.65		(6	)		1.13		(6	)
Year ended 8/31/2007				31.73		.31					4.85			5.16			(.27	)		(1.10	)		(1.37	)		35.52		16.63			17,856		.68					.65					.91
Year ended 8/31/2006				29.35		.27					2.54			2.81			(.20	)		(.23	)		(.43	)		31.73		9.60			12,558		.69					.66					.86
Year ended 8/31/2005				24.35		.19					4.94			5.13			(.13	)		-			(.13	)		29.35		21.15			8,032		.70					.68					.72
Year ended 8/31/2004				22.44		.05					1.90			1.95			(.04	)		-			(.04	)		24.35		8.70			3,320		.71					.71					.20
Year ended 8/31/2003				18.57		.05					3.87			3.92			(.05	)		-			(.05	)		22.44		21.19			401		.74					.74					.26
Class R-5:
Six months ended 2/29/2008	(5	)		35.82		.25					(1.79	)		(1.54	)		(.46	)		(2.06	)		(2.52	)		31.76		(4.66	)		15,324		.38		(6	)		.35		(6	)		1.43		(6	)
Year ended 8/31/2007				31.98		.41					4.89			5.30			(.36	)		(1.10	)		(1.46	)		35.82		16.97			12,630		.38					.35					1.21
Year ended 8/31/2006				29.56		.37					2.55			2.92			(.27	)		(.23	)		(.50	)		31.98		9.92			6,863		.39					.36					1.17
Year ended 8/31/2005				24.50		.28					4.97			5.25			(.19	)		-			(.19	)		29.56		21.52			3,204		.40					.38					1.02
Year ended 8/31/2004				22.52		.12					1.91			2.03			(.05	)		-			(.05	)		24.50		9.02			1,179		.41					.41					.50
Year ended 8/31/2003				18.58		.11					3.89			4.00			(.06	)		-			(.06	)		22.52		21.61			297		.43					.43					.56

				Year ended August 31
	Six months ended February 29, 2008(5)			2007			2006			2005			2004			2003
Portfolio turnover rate for all classes of shares		16	%		26	%		22	%		20	%		19	%		25	%

(1) Based on operations for the periods shown (unless otherwise noted) and, accordingly, may not be representative of a full year.

(2) Based on average shares outstanding.

(3) Total returns exclude any applicable sales charges, including contingent deferred sales charges.

(4) This column reflects the impact, if any, of certain reimbursements/waivers from CRMC.  During some of the periods shown, CRMC reduced fees for investment advisory services. In addition, during some of the periods shown, CRMC paid a portion of the fund's transfer agent fees for certain retirement plan share classes.

(5) Unaudited.

(6) Annualized.

(7) Amount less than $.01.

See Notes to Financial Statements

Expense example

unaudited

As a shareholder of the fund, 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 example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (September 1, 2007, through February 29, 2008).

Actual expenses:

The first line of each share class in the table on the next page 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 table on the next page 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:

There are some account fees that are charged to certain types of accounts, such as individual retirement accounts and 529 college savings plan accounts (generally, a $10 fee is charged to set up the account and an additional $10 fee is charged to the account annually) that would increase the amount of expenses paid on your account. In addition, retirement plan participants may be subject to certain fees charged by the plan sponsor, and Class F and 529-Fshareholders 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 also be lower by the amount of these fees.

Please note that the expenses shown in the table 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 table 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.

	Beginning account value 9/1/2007		Ending account value 2/29/2008		Expenses paid during period*		Annualized expense ratio
Class A -- actual return	$	1,000.00	$	952.10	$	2.96		.61	%
Class A -- assumed 5% return		1,000.00		1,021.83		3.07		.61
Class B -- actual return		1,000.00		948.62		6.59		1.36
Class B -- assumed 5% return		1,000.00		1,018.10		6.82		1.36
Class C -- actual return		1,000.00		948.38		6.78		1.40
Class C -- assumed 5% return		1,000.00		1,017.90		7.02		1.40
Class F -- actual return		1,000.00		952.08		2.91		.60
Class F -- assumed 5% return		1,000.00		1,021.88		3.02		.60
Class 529-A -- actual return		1,000.00		951.62		3.20		.66
Class 529-A -- assumed 5% return		1,000.00		1,021.58		3.32		.66
Class 529-B -- actual return		1,000.00		947.90		7.12		1.47
Class 529-B -- assumed 5% return		1,000.00		1,017.55		7.37		1.47
Class 529-C -- actual return		1,000.00		947.93		7.12		1.47
Class 529-C -- assumed 5% return		1,000.00		1,017.55		7.37		1.47
Class 529-E -- actual return		1,000.00		950.48		4.66		.96
Class 529-E -- assumed 5% return		1,000.00		1,020.09		4.82		.96
Class 529-F -- actual return		1,000.00		952.56		2.23		.46
Class 529-F -- assumed 5% return		1,000.00		1,022.58		2.31		.46
Class R-1 -- actual return		1,000.00		948.20		6.78		1.40
Class R-1 -- assumed 5% return		1,000.00		1,017.90		7.02		1.40
Class R-2 -- actual return		1,000.00		948.67		6.44		1.33
Class R-2 -- assumed 5% return		1,000.00		1,018.25		6.67		1.33
Class R-3 -- actual return		1,000.00		950.57		4.46		.92
Class R-3 -- assumed 5% return		1,000.00		1,020.29		4.62		.92
Class R-4 -- actual return		1,000.00		951.81		3.15		.65
Class R-4 -- assumed 5% return		1,000.00		1,021.63		3.27		.65
Class R-5 -- actual return		1,000.00		953.37		1.70		.35
Class R-5 -- assumed 5% return		1,000.00		1,023.12		1.76		.35

*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 (182), and divided by 366 (to reflect the one-half year period).

Other share class results

unaudited

Class B, Class C, Class F and Class 529

Fund results shown are for past periods and are not predictive of results for future periods. Current and future results may be lower or higher than those shown. Share prices and returns will vary, so investors may lose money. For current information and month-end results, visit americanfunds.com.

Average annual total returns for periods ended March 31, 2008
(the most recent calendar quarter-end):
	1 year			5 years			Life of class
Class B shares — first sold 3/15/00
Reflecting applicable contingent deferred sales
charge (CDSC), maximum of 5%, payable only
if shares are sold within six years of purchase		–4.63	%		13.50	%		2.27	%
Not reflecting CDSC		0.06			13.74			2.27
Class C shares — first sold 3/15/01
Reflecting CDSC, maximum of 1%, payable only
if shares are sold within one year of purchase		–0.94			13.68			4.99
Not reflecting CDSC		–0.00			13.68			4.99
Class F shares* — first sold 3/15/01
Not reflecting annual asset-based fee charged
by sponsoring firm		0.80			14.59			5.84
Class 529-A shares† — first sold 2/15/02
Reflecting 5.75% maximum sales charge		–5.06			13.20			6.64
Not reflecting maximum sales charge		0.74			14.55			7.68
Class 529-B shares† — first sold 2/15/02
Reflecting applicable CDSC, maximum of 5%,
payable only if shares are sold within six years
of purchase		–4.76			13.34			6.75
Not reflecting CDSC		–0.07			13.58			6.75
Class 529-C shares† — first sold 2/15/02
Reflecting CDSC, maximum of 1%, payable only
if shares are sold within one year of purchase		–1.00			13.59			6.76
Not reflecting CDSC		–0.07			13.59			6.76
Class 529-E shares*† — first sold 3/1/02		0.45			14.16			7.12
Class 529-F shares*† — first sold 9/16/02
Not reflecting annual asset-based fee charged
by sponsoring firm		0.97			14.63			12.70
*These shares are sold without any initial or contingent deferred sales charge.
† Results shown do not reflect the $10 initial account setup fee and an annual $10 account maintenance fee.

The fund’s investment adviser waived 5% of its management fees from September 1, 2004, through March 31, 2005, and increased the waiver to 10% on April 1, 2005. Fund results shown reflect the waiver, without which they would have been lower. Please see the Financial Highlights table on pages 22 to 25 for details.

For information regarding the differences among the various share classes, please refer to the fund’s prospectus.

Office of the fund

One Market

Steuart Tower, Suite 1800

Mailing address: P.O. Box 7650

San Francisco, CA 94120-7650

Investment adviser

Capital Research and Management Company

333 South Hope Street

Los Angeles, CA 90071-1406

6455 Irvine Center Drive

Irvine, CA 92618

Principal underwriter

American Funds Distributors, Inc.

333 South Hope Street

Los Angeles, CA 90071-1406

Independent registered public

accounting firm

Deloitte & Touche LLP

695 Town Center Drive

Suite 1200

Costa Mesa, CA 92626-7188

Transfer agent for shareholder accounts

American Funds Service Company

(Please write to the address nearest you.)

P.O. Box 25065

Santa Ana, CA 92799-5065

P.O. Box 659522

San Antonio, TX 78265-9522

P.O. Box 6007

Indianapolis, IN 46206-6007

P.O. Box 2280

Norfolk, VA 23501-2280

Custodian of assets

State Street Bank and Trust Company

One Lincoln Street

Boston, MA 02111

Counsel

Paul, Hastings, Janofsky & Walker LLP

515 South Flower Street

Los Angeles, CA 90071-2228

Investors should carefully consider the investment objectives, risks, charges and expenses of the American Funds. This and other important information is contained in the fund’s prospectus, which can be obtained from your financial professional and should be read carefully before investing. You may also call American Funds Service Company (AFS) at 800/421-0180 or visit the American Funds website at americanfunds.com.

“American Funds Proxy Voting Guidelines” — which describes how we vote proxies relating to portfolio securities — is available free of charge on the U.S. Securities and Exchange Commission (SEC) website at sec.gov, on the American Funds website or upon request by calling AFS. The fund files its proxy voting record with the SEC for the 12 months ended June 30 by August 31. The report also is available on the SEC and American Funds websites.

A complete February 29, 2008, portfolio of The Growth Fund of America’s investments is available free of charge by calling AFS or visiting the SEC website (where it is part of Form N-CSR).

The Growth Fund of America 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. (800/SEC-0330). Additionally, the list of portfolio holdings also is available by calling AFS.

This report is for the information of shareholders of The Growth Fund of America, 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 fund. If used as sales material after June 30, 2008, this report must be accompanied by an American Funds statistical update for the most recently completed calendar quarter.

[logo - American Funds®]

The right choice for the long term®

What makes American Funds different?

For more than 75 years, we have followed a consistent philosophy to benefit our investors. Our 30 carefully conceived, broadly diversified funds, in addition to the target date retirement series, offer opportunities that have attracted over 50 million shareholder accounts.

Our unique combination of strengths includes these five factors:

•A long-term, value-oriented approach

We seek to buy securities at reasonable prices relative to their prospects and hold them for the long term.

•An extensive global research effort

Our investment professionals travel the world to find the best investment opportunities and gain a comprehensive understanding of companies and markets.

•The multiple portfolio counselor system

Our unique method of portfolio management, developed 50 years ago, blends teamwork with individual accountability and has provided American Funds with a sustainable method of achieving fund objectives.

•Experienced investment professionals

American Funds portfolio counselors have an average of 26 years of investment experience, providing a wealth of knowledge and experience that few organizations have.

•A commitment to low operating expenses

The American Funds provide exceptional value for shareholders, with operating expenses that are among the lowest in the mutual fund industry.

American Funds span a range of investment objectives

•Growth funds

AMCAP Fund®

EuroPacific Growth Fund®

 > The Growth Fund of America®

The New Economy Fund®

New Perspective Fund®

New World FundSM

SMALLCAP World Fund®

•Growth-and-income funds

American Mutual Fund®

Capital World Growth and Income FundSM

Fundamental InvestorsSM

The Investment Company of America®

Washington Mutual Investors FundSM

•Equity-income funds

Capital Income Builder®

The Income Fund of America®

•Balanced fund

American Balanced Fund®

•Bond funds

American High-Income TrustSM

The Bond Fund of AmericaSM

Capital World Bond Fund®

Intermediate Bond Fund of America®

Short-Term Bond Fund of AmericaSM

U.S. Government Securities FundSM

•Tax-exempt bond funds

American High-Income Municipal Bond Fund®

Limited Term Tax-Exempt Bond Fund of AmericaSM

The Tax-Exempt Bond Fund of America®

State-specific tax-exempt funds

The Tax-Exempt Fund of California®

The Tax-Exempt Fund of Maryland®

The Tax-Exempt Fund of Virginia®

•Money market funds

The Cash Management Trust of America®

The Tax-Exempt Money Fund of AmericaSM

The U.S. Treasury Money Fund of AmericaSM

•American Funds Target Date Retirement Series®

The Capital Group Companies

American Funds Capital Research and Management Capital International Capital Guardian Capital Bank and Trust

Lit. No. MFGESR-905-0408P

Litho in USA AGD/LPT/8084-S10062

10% post-consumer waste

Printed with inks containing soy and/or vegetable oil

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

[logo – American Funds®]

The Growth Fund of America®

Investment portfolio

February 29, 2008

 unaudited

Common stocks — 88.20%	Shares			Market value (000)
INFORMATION TECHNOLOGY — 19.36%
Google Inc., Class A1		8,502,500		$	4,006,208
Cisco Systems, Inc.1		140,853,500			3,432,600
Nokia Corp. (ADR)		48,697,174			1,753,585
Nokia Corp.2		46,628,000			1,678,221
Oracle Corp.1		171,433,700			3,222,954
Microsoft Corp.		117,815,000			3,206,924
Yahoo! Inc.1		64,738,000			1,798,422
Apple Inc.1		11,344,970			1,418,348
International Business Machines Corp.		10,095,000			1,149,417
Samsung Electronics Co., Ltd.2		1,559,169			915,672
Texas Instruments Inc.		27,699,000			829,862
Intel Corp.		38,270,000			763,486
EMC Corp.1		41,575,231			646,079
Linear Technology Corp.3		19,850,000			550,043
KLA-Tencor Corp.3		12,940,000			543,609
Taiwan Semiconductor Manufacturing Co. Ltd.2		197,506,472			386,191
Taiwan Semiconductor Manufacturing Co. Ltd. (ADR)		12,769,135			124,371
MasterCard Inc., Class A		2,500,000			475,000
Intuit Inc.1,3		16,825,000			446,872
Symantec Corp.1		25,800,000			434,472
Paychex, Inc.		13,325,000			419,204
Applied Materials, Inc.		20,750,000			397,777
Dell Inc.1		18,910,000			375,363
MEMC Electronic Materials, Inc.1		4,842,502			369,386
Hon Hai Precision Industry Co., Ltd.2		56,205,883			334,357
Maxim Integrated Products, Inc.3		17,025,000			311,047
Xilinx, Inc.		13,900,000			310,804
Flextronics International Ltd.1		28,450,464			288,488
Kyocera Corp.2		3,500,000			287,629
Accenture Ltd, Class A		7,525,000			265,256
ASML Holding NV (New York registered)1		8,555,555			206,018
ASML Holding NV1,2		2,440,000			58,965
ACTIVISION, Inc.1		9,650,000			262,962
Automatic Data Processing, Inc.		6,450,700			257,705
Iron Mountain Inc.1		7,750,000			233,120
Micron Technology, Inc.1		29,600,000			222,592
Analog Devices, Inc.		8,010,300			215,637
Tyco Electronics Ltd.		6,363,000			209,343
Corning Inc.		9,000,000			209,070
Motorola, Inc.		20,500,200			204,387
Microchip Technology Inc.		6,005,000			184,834
Altera Corp.		9,882,650			169,092
Nortel Networks Corp.1		18,248,700			156,939
Hirose Electric Co., Ltd.2		1,361,200			144,377
Canon, Inc.2		3,000,000			134,250
QUALCOMM Inc.		3,000,000			127,110
Foxconn Technology Co., Ltd.2		19,255,000			124,922
Lam Research Corp.1		3,000,000			120,720
Fiserv, Inc.1		2,250,000			118,395
Jabil Circuit, Inc.		8,200,000			105,944
High Tech Computer Corp.2		5,029,000			104,605
Comverse Technology, Inc.1		6,000,000			98,820
Advanced Micro Devices, Inc.1		12,740,000			91,855
Rohm Co., Ltd.2		1,082,000			78,606
AU Optronics Corp.2		35,696,537			68,595
Diebold, Inc.		2,000,000			48,240
Quanta Computer Inc.2		34,951,705			46,133
Murata Manufacturing Co., Ltd.2		550,000			29,607
Sun Microsystems, Inc.1		1,331,675			21,839
Western Union Co.		890,000			18,512
Teradyne, Inc.1		900,000			10,791
ProAct Holdings, LLC1,2,4		6,500,000			—
					35,225,632
ENERGY — 13.79%
Schlumberger Ltd.		45,614,440			3,943,368
Suncor Energy Inc.		18,451,161			1,908,870
EOG Resources, Inc.3		15,934,900			1,896,094
Devon Energy Corp.		17,759,900			1,824,297
Baker Hughes Inc.3		20,304,100			1,366,263
Transocean Inc.1		8,907,514			1,251,595
BG Group PLC2		46,516,737			1,096,068
Occidental Petroleum Corp.		11,330,000			876,602
Canadian Natural Resources, Ltd.		11,195,000			841,650
CONSOL Energy Inc.3,4		7,400,000			562,252
CONSOL Energy Inc.3		3,456,400			262,617
Petro-Canada		14,427,900			692,792
Smith International, Inc.		9,437,098			594,820
Petróleo Brasileiro SA – Petrobras, ordinary nominative (ADR)		4,953,200			581,208
ConocoPhillips		7,024,900			581,029
OAO LUKOIL (ADR)2		7,237,000			535,093
Nexen Inc.		17,044,859			533,358
Noble Energy, Inc.		6,859,000			530,887
OAO Gazprom (ADR)2		10,066,800			508,757
Halliburton Co.		12,995,000			497,708
Newfield Exploration Co.1,3		8,264,800			457,705
BJ Services Co.3		16,248,800			421,494
Chevron Corp.		4,450,000			385,637
Diamond Offshore Drilling, Inc.		2,903,800			350,866
Imperial Oil Ltd.		6,091,854			343,680
Exxon Mobil Corp.		3,900,000			339,339
Anadarko Petroleum Corp.		5,000,000			318,700
Cameco Corp.		7,616,800			299,284
Tenaris SA (ADR)		6,270,000			278,701
Arch Coal, Inc.		4,800,000			245,232
Murphy Oil Corp.		2,318,000			186,321
Peabody Energy Corp.		2,830,000			160,235
Royal Dutch Shell PLC, Class A (ADR)		2,000,000			142,900
Sasol Ltd.2		1,750,000			90,614
Patriot Coal Corp.1,3		1,658,000			89,035
Rowan Companies, Inc.		2,200,000			88,682
					25,083,753
CONSUMER DISCRETIONARY — 10.84%
Target Corp.3		44,784,502			2,356,113
Lowe’s Companies, Inc.3		96,114,400			2,303,862
Time Warner Inc.		106,794,000			1,667,054
News Corp., Class A		62,134,800			1,143,902
Carnival Corp., units		25,749,180			1,013,230
Best Buy Co., Inc.3		22,663,400			974,753
McDonald’s Corp.		17,116,200			926,158
Comcast Corp., Class A1		37,660,000			735,876
Comcast Corp., Class A, special nonvoting stock1		6,000,000			116,100
Las Vegas Sands Corp.1		9,608,121			800,356
Kohl’s Corp.1,3		15,900,000			706,596
Johnson Controls, Inc.		20,140,400			661,814
International Game Technology		13,814,101			623,707
Time Warner Cable Inc., Class A1		22,175,000			605,377
YUM! Brands, Inc.		16,806,000			578,967
MGM Mirage, Inc.1		8,931,240			550,075
Liberty Media Holding Corp., Liberty Interactive, Series A1,3		31,117,500			446,847
Garmin Ltd.		6,540,000			383,963
CarMax, Inc.1,3		13,600,000			249,696
Shaw Communications Inc., Class B, nonvoting		12,000,000			233,760
Starbucks Corp.1		13,000,000			233,610
Limited Brands, Inc.		15,130,000			230,732
Magna International Inc., Class A		2,870,000			210,113
Ford Motor Co.1		30,000,000			195,900
Fortune Brands Inc.		3,000,000			194,940
Nikon Corp.2		6,856,000			192,307
Harman International Industries, Inc.3		4,078,900			168,051
Toyota Motor Corp.2		2,730,000			148,546
Ross Stores, Inc.		5,067,000			141,116
Williams-Sonoma, Inc.3		5,920,000			138,291
Royal Caribbean Cruises Ltd.		3,250,000			113,783
TJX Companies, Inc.		3,000,000			96,000
SEGA SAMMY HOLDINGS INC.2		8,425,000			92,725
DreamWorks Animation SKG, Inc., Class A1		3,500,000			88,830
Harley-Davidson, Inc.		2,109,500			78,389
Gentex Corp.		4,600,000			74,152
Boyd Gaming Corp.		3,458,500			72,940
Lennar Corp., Class A		3,500,000			65,135
Brinker International, Inc.		3,000,000			55,320
XM Satellite Radio Holdings Inc., Class A1		3,835,000			45,253
					19,714,339
HEALTH CARE— 10.71%
Roche Holding AG2		17,890,000			3,512,266
Medtronic, Inc.		38,569,000			1,903,766
UnitedHealth Group Inc.		32,725,000			1,521,058
Eli Lilly and Co.		24,220,000			1,211,484
Genentech, Inc.1		14,330,000			1,085,498
Gilead Sciences, Inc.1		20,920,000			989,934
Stryker Corp.		13,274,400			864,296
Schering-Plough Corp.		28,944,800			628,102
Amgen Inc.1		12,746,300			580,212
Boston Scientific Corp.1		45,300,000			570,327
Cardinal Health, Inc.		9,375,000			554,438
Celgene Corp.1		9,800,000			552,426
Aetna Inc.		10,455,000			518,568
Novo Nordisk A/S, Class B2		7,527,400			515,803
Intuitive Surgical, Inc.1		1,500,000			422,880
Biogen Idec Inc.1		6,775,000			395,389
C. R. Bard, Inc.		3,749,500			355,415
Merck & Co., Inc.		7,500,000			332,250
McKesson Corp.		5,650,000			331,994
Teva Pharmaceutical Industries Ltd. (ADR)		6,599,307			323,828
Abbott Laboratories		5,500,000			294,525
Hospira, Inc.1		6,250,000			266,000
St. Jude Medical, Inc.1		5,100,000			219,198
Allergan, Inc.		3,440,000			203,751
Johnson & Johnson		3,050,000			188,978
AstraZeneca PLC (Sweden)2		4,778,000			180,595
Forest Laboratories, Inc.1		4,366,000			173,636
Endo Pharmaceuticals Holdings Inc.1		5,300,000			139,178
CIGNA Corp.		3,000,000			133,740
Wyeth		3,000,000			130,860
WellPoint, Inc.1		1,700,000			119,136
Cephalon, Inc.1		1,400,000			84,476
Covidien Ltd.		1,565,475			66,987
Affymetrix, Inc.1		2,000,000			38,360
Martek Biosciences Corp.1		1,273,800			36,507
APP Pharmaceuticals, Inc.1		2,200,000			24,728
Applera Corp., Celera group1		528,800			7,329
					19,477,918
FINANCIALS — 8.00%
Berkshire Hathaway Inc., Class A1		18,950			2,653,000
Citigroup Inc.		66,185,600			1,569,261
Fannie Mae3		52,203,870			1,443,437
American International Group, Inc.		29,475,200			1,381,208
JPMorgan Chase & Co.		18,340,000			745,521
Banco Bradesco SA, preferred nominative (ADR)		23,296,600			731,280
Freddie Mac		27,786,050			699,653
Bank of New York Mellon Corp.		14,017,838			614,963
Wells Fargo & Co.		14,800,000			432,604
American Express Co.		10,000,000			423,000
PNC Financial Services Group, Inc.		6,526,000			400,892
ICICI Bank Ltd.2		14,000,000			375,893
Marsh & McLennan Companies, Inc.		13,175,000			335,567
Mitsubishi Estate Co., Ltd.2		12,615,000			306,622
AFLAC Inc.		4,645,000			289,894
HDFC Bank Ltd.2		6,633,200			237,174
XL Capital Ltd., Class A		5,829,000			210,194
T. Rowe Price Group, Inc.		4,000,000			202,120
SunTrust Banks, Inc.		3,223,500			187,382
State Street Corp.		2,370,000			186,164
Marshall & Ilsley Corp.		7,399,998			171,680
AMP Ltd.2		21,000,000			155,742
Banco Bilbao Vizcaya Argentaria, SA2		7,000,000			144,927
AXIS Capital Holdings Ltd.		3,140,000			115,772
Zions Bancorporation		2,145,000			102,424
BOC Hong Kong (Holdings) Ltd.2		37,386,000			90,110
Credit Suisse Group2		1,300,000			63,816
Old Republic International Corp.		4,640,000			63,661
Protective Life Corp.		1,500,000			57,885
Popular, Inc.		4,000,000			44,160
OJSC VTB Bank (GDR)1,2		5,260,118			39,222
Umpqua Holdings Corp.		2,175,000			30,820
Willis Group Holdings Ltd.		900,000			29,565
Grupo Financiero Banorte, SAB de CV, Series O		4,951,100			19,848
					14,555,461
INDUSTRIALS — 6.90%
General Electric Co.		63,830,000			2,115,326
United Parcel Service, Inc., Class B		18,383,500			1,291,257
Caterpillar Inc.		16,166,000			1,169,287
Boeing Co.		12,400,000			1,026,596
General Dynamics Corp.		11,641,400			952,849
FedEx Corp.		9,730,000			857,505
Deutsche Post AG2		15,460,000			510,711
Mitsubishi Heavy Industries, Ltd.2		105,421,000			492,222
Southwest Airlines Co.		31,389,000			384,829
Lockheed Martin Corp.		3,330,000			343,656
Raytheon Co.		4,700,000			304,748
Illinois Tool Works Inc.		5,961,089			292,511
Tyco International Ltd.		6,863,000			274,932
Northrop Grumman Corp.		3,182,000			250,137
Union Pacific Corp.		2,000,000			249,520
Precision Castparts Corp.		2,157,000			238,111
United Technologies Corp.		3,340,000			235,503
Mitsubishi Corp.2		7,400,000			225,499
Robert Half International Inc.		7,940,800			214,005
Norfolk Southern Corp.		4,000,000			211,560
Burlington Northern Santa Fe Corp.		1,885,000			165,465
Allied Waste Industries, Inc.1		15,000,000			155,100
UAL Corp.1		5,000,000			151,500
Monster Worldwide, Inc.1		4,939,500			131,341
Bombardier Inc., Class B1		19,133,250			109,795
Continental Airlines, Inc., Class B1		3,400,000			82,212
Avery Dennison Corp.		1,598,000			82,009
JetBlue Airways Corp.1		6,216,000			33,877
					12,552,063
CONSUMER STAPLES — 6.71%
Altria Group, Inc.		28,536,700			2,087,174
PepsiCo, Inc.		23,800,000			1,655,528
Archer Daniels Midland Co.3		36,118,767			1,628,956
Coca-Cola Co.		27,405,000			1,602,096
Walgreen Co.		28,341,100			1,034,734
Avon Products, Inc.		18,575,000			706,965
Colgate-Palmolive Co.		6,638,700			505,139
Groupe Danone SA2		6,335,000			498,199
Wm. Wrigley Jr. Co.		7,762,500			464,663
Bunge Ltd.		3,500,000			387,940
L’Oréal SA2		3,115,000			369,333
Kerry Group PLC, Class A2,3		8,965,824			282,031
Wal-Mart Stores, Inc.		4,450,000			220,676
Whole Foods Market, Inc.		5,549,600			195,068
IAWS Group PLC2		6,175,000			125,155
SYSCO Corp.		4,404,100			123,579
Constellation Brands, Inc., Class A1		6,200,000			119,102
Diageo PLC2		4,000,000			81,695
General Mills, Inc.		1,235,000			69,148
C&C Group PLC2		6,000,000			40,794
					12,197,975
MATERIALS — 5.42%
Barrick Gold Corp.		32,175,000			1,671,491
Syngenta AG1,2,3		5,200,000			1,490,714
Potash Corp. of Saskatchewan Inc.		7,218,500			1,147,020
Newmont Mining Corp.		16,898,000			864,671
USX Corp.3		6,957,000			754,487
Rio Tinto PLC2		6,172,960			691,836
Monsanto Co.		5,245,900			606,846
CRH PLC2		15,311,798			569,777
BHP Billiton Ltd.2		10,215,000			375,357
Freeport-McMoRan Copper & Gold Inc.		3,633,000			366,424
Sigma-Aldrich Corp.		5,455,000			300,134
Newcrest Mining Ltd.2		7,110,886			248,779
Vulcan Materials Co.		2,750,000			192,775
Israel Chemicals Ltd.2		12,700,000			175,288
Alcoa Inc.		4,000,000			148,560
Sealed Air Corp.		4,758,900			115,213
Norsk Hydro ASA (ADR)2		7,839,000			111,162
Kuraray Co., Ltd.2		2,290,000			27,246
Dow Chemical Co.		306,900			11,567
					9,869,347
TELECOMMUNICATION SERVICES — 1.31%
Sprint Nextel Corp., Series 13		180,002,450			1,279,817
Qwest Communications International Inc.3		121,418,000			655,657
KDDI Corp.2		43,000			260,131
Telephone and Data Systems, Inc., Special Common Shares		2,303,100			99,264
Verizon Communications Inc.		2,584,350			93,864
Embarq Corp.		85,000			3,565
Broadview Networks Holdings, Inc., Class A1,2,4		31,812			—
					2,392,298
UTILITIES — 0.40%
Questar Corp.		4,950,000			273,488
Veolia Environnement2		2,650,000			236,014
NRG Energy, Inc.1		5,290,700			218,347
					727,849
MISCELLANEOUS — 4.76%
Other common stocks in initial period of acquisition					8,657,265
Total common stocks (cost: $132,993,102,000)					160,453,900
				Market value
Preferred stocks — 0.00%	Shares				(000	)
TELECOMMUNICATION SERVICES — 0.00%
Broadview Networks Holdings, Inc., Series B1,2,4		1,272		$	583
Total preferred stocks (cost: $21,000,000)					583
Convertible securities — 0.40%
FINANCIALS — 0.27%
Citigroup Inc., Series J, 7.00%, noncumulative convertible preferred depositary shares2,4		5,140,000			255,715
Citigroup Inc., Series D, 7.00%, noncumulative convertible preferred2,4		3,750,000			186,562
Citigroup Inc., Series T, 6.50% convertible preferred depositary shares		1,120,000			55,720
					497,997
MISCELLANEOUS — 0.13%
Other convertible securities in initial period of acquisition					228,383
Total convertible securities (cost: $731,675,000)					726,380
	Principal amount
Bonds & notes — 0.07%		(000	)
CONSUMER DISCRETIONARY — 0.06%
Delphi Automotive Systems Corp. 6.55% 20065	$	58,190			21,821
Delphi Automotive Systems Corp. 6.50% 20095		20,000			7,500
Delphi Corp. 6.50% 20135		53,500			19,528
Delphi Automotive Systems Corp. 7.125% 20295		22,000			8,470
Harrah’s Operating Co., Inc. 10.75% 20166		60,000			52,725
					110,044
TELECOMMUNICATION SERVICES — 0.01%
Level 3 Financing, Inc. 12.25% 2013		7,950			7,433
Total bonds & notes (cost: $189,718,000)					117,477
Short-term securities — 11.12%
Federal Home Loan Bank 2.37%–4.86% due 3/5–9/15/2008		4,313,695			4,289,441
U.S. Treasury Bills 2.035%–4.181% due 3/6–7/31/2008		4,161,350			4,146,874
Freddie Mac 2.45%–4.633% due 3/3–9/9/2008		3,522,351			3,504,501
Fannie Mae 2.55%–4.30% due 3/4–6/20/20083		2,286,191			2,276,941
General Electric Capital Services, Inc. 2.85%–4.61% due 4/8–6/18/2008		216,700			215,297
Edison Asset Securitization LLC 2.93%–3.83% due 3/25–6/9/20086		152,301			151,411
General Electric Co. 4.13%–4.52% due 3/24–3/28/2008		100,000			99,767
General Electric Capital Corp. 4.61% due 4/4/2008		50,000			49,853
Federal Farm Credit Banks 2.35%–4.40% due 3/4–10/16/2008		513,500			509,520
Coca-Cola Co. 2.67%–4.25% due 3/4–5/16/20086		445,300			443,361
AT&T Inc. 2.72%–2.89% due 3/26–5/22/20086		371,700			370,027
Wal-Mart Stores Inc. 2.68%–3.10% due 3/18–5/5/20086		356,700			355,514
International Bank for Reconstruction and Development 3.96%–4.20% due 3/12–4/29/2008		350,000			348,561
Bank of America Corp. 2.95%–4.915% due 3/14–5/21/2008		300,000			299,104
Ranger Funding Co. LLC 3.20% due 4/25/20086		30,000			29,835
Procter & Gamble International Funding S.C.A. 2.75%–4.25% due 3/6–4/3/20086		275,000			274,524
United Parcel Service Inc. 4.27%–4.40% due 3/11–5/21/20086		230,900			230,186
JPMorgan Chase & Co. 2.82%–2.99% due 5/6–7/17/2008		175,000			173,412
Park Avenue Receivables Co., LLC 3.15%–3.80% due 4/16–4/22/20086		57,000			56,707
Variable Funding Capital Corp. 3.21%–4.30% due 3/3–4/9/20086		221,500			221,245
Pfizer Inc. 4.33%–4.41% due 5/22–6/13/20086		191,000			189,457
CAFCO, LLC 3.12%–3.19% due 4/4–5/6/20086		150,000			149,359
CIESCO LLC 3.24% due 4/4–5/6/20086		35,000			34,806
International Lease Finance Corp. 2.83%–4.04% due 3/5–5/2/2008		170,000			169,573
Chevron Corp. 2.85%–2.90% due 3/18–3/25/2008		150,000			149,756
Chevron Funding Corp. 2.95% due 3/20/2008		10,000			9,984
Johnson & Johnson 2.66%–3.97% due 3/26–4/21/20086		146,400			145,964
IBM International Group Capital LLC 2.72%–4.15% due 3/17–4/25/20086		134,000			133,615
John Deere Capital Corp. 2.75%–4.05% due 3/11–5/9/20086		114,000			113,452
Paccar Financial Corp. 2.70%–4.10% due 4/10–5/15/2008		108,200			107,654
Medtronic Inc. 2.75%–2.80% due 4/10–4/29/20086		102,100			101,705
Union Bank of California, N.A. 4.58% due 3/12/2008		100,000			100,013
Anheuser-Busch Cos. Inc. 3.75%–4.17% due 3/14–3/19/20086		100,000			99,817
Wells Fargo & Co. 2.82%–2.85% due 3/25–3/26/2008		100,000			99,799
Caterpillar Financial Services Corp. 2.70%–2.81% due 3/24–4/21/2008		75,935			75,702
Hewlett-Packard Co. 2.82% due 4/9–4/11/20086		75,000			74,758
Private Export Funding Corp. 2.69%–4.30% due 3/26–6/4/20086		75,000			74,524
NetJets Inc. 2.75%–3.75% due 3/4–4/29/20086		51,400			51,217
FCAR Owner Trust I 5.65% due 3/11/2008		50,000			49,927
Walt Disney Co. 2.71% due 5/28/2008		50,000			49,622
PepsiCo Inc. 2.70% due 4/7/20086		45,000			44,872
Honeywell International Inc. 2.83%–3.90% due 3/10–3/20/20086		44,500			44,436
Harley-Davidson Funding Corp. 2.83% due 3/27–3/28/20086		30,000			29,935
Abbott Laboratories 2.90% due 3/12/20086		25,000			24,976
HSBC Finance Corp. 2.98% due 3/20/2008		25,000			24,959
Genentech, Inc. 2.88% due 3/26/20086		23,700			23,651
Estée Lauder Companies Inc. 2.80% due 3/25/20086		15,000			14,971
Total short-term securities (cost: $20,212,690,000)					20,234,585
Total investment securities (cost: $154,148,185,000)					181,532,925
Other assets less liabilities					385,002
Net assets				$	181,917,927

“Miscellaneous” securities include holdings in their initial period of acquisition that have not previously been publicly disclosed.

1Security did not produce income during the last 12 months.

2Valued under fair value procedures adopted by authority of the board of directors. The total value of all such securities, including those in

 "Miscellaneous," was $22,390,965,000.

3Represents an affiliated company as defined under the Investment Company Act of 1940.

4Purchased in a transaction exempt from registration under the Securities Act of 1933. May be subject to legal or contractual restrictions on resale.

 Further details on these holdings appear below.

	Acquisition date(s)	Cost (000)		Market value (000)		Percent of net assets
CONSOL Energy Inc.	10/2/2003	$	67,784	$	562,252		.31	%
Citigroup Inc., Series J, 7.00%, noncumulative
convertible preferred depositary shares	1/15/2008		257,000		255,715		.14
Citigroup Inc., Series D, 7.00%, noncumulative
convertible preferred	1/15/2008		187,500		186,562		.10
Broadview Networks Holdings, Inc., Series B	7/7/2000–3/6/2002		21,000		583		.00
Broadview Networks Holdings, Inc., Class A	7/7/2000–3/6/2002		—		—		.00
ProAct Holdings, LLC	1/4/2005		162		—		.00
Total restricted securities		$	533,446	$	1,005,112		.55	%

5Scheduled interest and/or principal payment was not received.

6Purchased in a transaction exempt from registration under the Securities Act of 1933. May be resold in the United States in transactions exempt from

 registration, normally to qualified institutional buyers. The total value of all such securities was $3,537,050,000, which represented 1.94% of the net

 assets of the fund.

ADR = American Depositary Receipts

GDR = Global Depositary Receipts

Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so you may lose money.

Investors should carefully consider the investment objectives, risks, charges and expenses of the American Funds. This and other important information

is contained in each fund’s prospectus, which can be obtained from your financial professional and should be read carefully before investing.

MFGEFP-905-0408O-S10874

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 directors 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 directors. 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, as amended, 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.

THE GROWTH FUND OF AMERICA, INC.

By /s/ Paul G. Haaga, Jr.

Paul G. Haaga, Jr., Executive Vice President and

Principal Executive Officer

Date: May 8, 2008

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

By /s/ Paul G. Haaga, Jr.

Paul G. Haaga, Jr., Executive Vice President and

Principal Executive Officer

Date: May 8, 2008

By /s/ Jeffrey P. Regal

Jeffrey P. Regal, Treasurer and

Principal Financial Officer

Date: May 8, 2008