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: 811-03734
EuroPacific Growth Fund
(Exact Name of Registrant as Specified in Charter)
333 South Hope Street
Los Angeles, California 90071
(Address of Principal Executive Offices)
Registrant's telephone number, including area code: (213) 486-9200
Date of fiscal year end: March 31
Date of reporting period: September 30, 2013
Vincent P. Corti
EuroPacific Growth Fund
333 South Hope Street
Los Angeles, California 90071
(Name and Address of Agent for Service)
Copies to:
Mark D. Perlow
K&L Gates LLP
Four Embarcadero Center, Suite 1200
San Francisco, California 94111
(Counsel for the Registrant)
ITEM 1 – Reports to Stockholders
 | EuroPacific Growth Fund® Semi-annual report
for the six months ended
September 30, 2013 |
EuroPacific Growth Fund seeks long-term growth of capital by investing primarily in the securities of companies based in Europe and the Pacific Basin. More than half of the world’s investment opportunities can be found beyond the borders of our country. As a shareholder in the fund, you have access to what we believe are the best of those opportunities.
This fund is one of more than 40 offered by one of the nation’s largest mutual fund families, American Funds, from Capital Group. For more than 80 years, Capital has invested with a long-term focus based on thorough research and attention to risk.
Fund results shown in this report, unless otherwise indicated, are for Class A shares at net asset value. If a sales charge (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, so they may lose value. 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 September 30, 2013:
| Class A shares | | 1 year | | | 5 years | | | 10 years | |
| | | | | | | | | | |
| Reflecting 5.75% maximum sales charge | | | 11.08% | | | | 5.89% | | | | 8.93% | |
For other share class results, visit americanfunds.com and americanfundsretirement.com.
The total annual fund operating expense ratio was 0.86% for Class A shares as of the prospectus dated June 1, 2013.
Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, investment results reflect fee waivers, without which results would have been lower. Visit americanfunds.com for more information.
Investing outside the United States may be subject to risks, such as currency fluctuations, periods of illiquidity and price volatility. These risks may be heightened in connection with investments in developing countries. Refer to the fund prospectus and the Risk Factors section of this report for more information on these and other risks associated with investing in the fund.
Fellow investors:
Global markets rose over the six-month period ended September 30, 2013, supported by ongoing monetary stimulus and moderate economic growth. Investors cheered the U.S. Federal Reserve’s decision to not yet taper its bond-buying program, Europe’s tentative emergence from recession and some positive signs from China’s economy. Still, investor confidence was shaken at times and some markets retreated during the period. Most sectors advanced, with economically sensitive areas generally outperforming defensive areas of the market, although materials stocks declined amid falling commodities prices.
EuroPacific Growth Fund’s return for the six-month period was 8.6%, compared with 6.7% for the unmanaged MSCI All Country World ex USA Index, which reflects the returns of more than 40 developed- and developing-country stock markets, and 8.8% for the Lipper International Funds Average, a peer group measure. As shown in the chart below, the fund continued to exceed both measures over multiyear periods.
The market environment
European stocks rose broadly as the 17-nation euro zone appeared to emerge from a lengthy recession, lifted by recovering economies in Germany and France; the United Kingdom also showed some signs of recovery. Even the stock markets of some of the continent’s most troubled economies — Spain, Italy and Greece — posted double-digit gains. Economic growth was boosted by increased manufacturing activity and greater consumer spending. However, economic activity continued to decline in most of Southern Europe and euro-zone unemployment stood at a near-record high of 12%.
Results at a glance
For periods ended September 30, 2013, with all distributions reinvested
| | | Total returns | | Average annual total returns |
| | | 6 months | | 1 year | | 5 years | | 10 years | | Lifetime
(since 4/16/84) |
| | | | | | | | | | | |
| EuroPacific Growth Fund (Class A shares) | | | 8.6 | % | | | 17.9 | % | | | 7.2 | % | | | 9.6 | % | | | 11.5 | % |
| MSCI All Country World ex USA Index1,2 | | | 6.7 | | | | 16.5 | | | | 6.3 | | | | 8.8 | | | | — | |
| Lipper International Funds Average | | | 8.8 | | | | 19.9 | | | | 6.3 | | | | 8.0 | | | | 9.3 | |
| MSCI EAFE Index1,3 | | | 10.5 | | | | 23.8 | | | | 6.4 | | | | 8.0 | | | | 9.0 | |
| 1 | The indexes are unmanaged and, therefore, have no expenses. |
| 2 | The index did not exist prior to December 31, 1987. Results reflect dividends net of withholding taxes. |
| 3 | This was the fund’s primary benchmark until the fiscal year ended March 31, 2007. Results reflect dividends net of withholding taxes. |
The telecommunication services and information technology sectors outpaced the broader market, helped by resurgent merger-and-acquisition (M&A) activity. Shares of Vodafone climbed after the U.K. telecom giant agreed to sell its stake in Verizon Wireless for $130 billion. Technology stocks also benefited from increased M&A activity as Nokia agreed to sell its mobile handset business to Microsoft for $7 billion.
In Japan, the central bank’s upgraded assessment of the economy and unanimous vote to maintain the pace of its asset purchases helped fuel a rally. Better-than-expected business spending (mainly among non-manufacturing industries) as well as government investment accounted for a revision of second-quarter growth. Other economic data, including consumer spending and housing data, helped lift Japanese equities some 11%* and reinforced the central bank’s declaration that the country’s economy was “recovering moderately.” Export-oriented companies, such as auto makers, continued to benefit from a weaker yen.
Returns among developing-country stock markets varied widely. Exchange-rate depreciation and volatility weighed on a number of markets, prompting central banks to raise interest rates in order to help shore up their currencies. Despite a broad rally following the Fed’s decision on bond purchases, currency depreciation took a toll on total returns for U.S. dollar-based investors in some markets. Indian stocks fared particularly poorly, losing more than 10% of their value as investors worried about a potential balance-of-payments crisis, rising inflation, weak economic growth and a sharply depreciating rupee. In contrast, the Chinese market ended the period almost 5% higher, with the stocks of internet companies among the best performers. Official figures indicated that the Chinese economy had slowed a little, though manufacturing and exports data showed signs of stabilizing.
Inside the portfolio
The fund’s investments in the information technology, telecommunication services and consumer discretionary sectors were the biggest contributors to returns, especially holdings in Asia. Chinese internet companies Baidu and Tencent recorded strong gains during the period, helped by growth in their mobile platforms in areas such as online chat and video applications. Another Chinese company, travel booking website Ctrip.com International, advanced sharply as it continued to gain share in a large and growing market.
Several Japanese companies also contributed to returns, including SoftBank and Rakuten, an e-commerce and internet company. SoftBank, one of the biggest telecom companies in Japan, continues to be a large holding in the fund. It has benefited from positive market sentiment surrounding its recent acquisition of U.S. mobile carrier Sprint, as well as strong results from its holdings in Japanese video game company GungHo Online Entertainment and Chinese internet company Alibaba, which is expected to go public in the coming months.
| * | Country stock returns are based on MSCI indexes, expressed in U.S. dollars, and assume the reinvestment of dividends. Results reflect dividends net of withholding taxes. |
Where the fund’s assets are invested
(percent invested by country)
EuroPacific Growth Fund invests primarily in the stocks of companies based in Europe and the Pacific Basin.1
| | | EuroPacific
Growth Fund | | MSCI
All Country
World ex USA
Index2 |
| | | | | | |
| Europe | | (9/30/13) | | (3/31/13) | | (9/30/13) |
| Euro zone3 | | | 25.2 | % | | | 22.9 | % | | | 21.1 | % |
| United Kingdom | | | 12.1 | | | | 11.8 | | | | 15.6 | |
| Switzerland | | | 6.9 | | | | 7.4 | | | | 6.5 | |
| Denmark | | | 4.3 | | | | 4.0 | | | | .8 | |
| Sweden | | | 1.8 | | | | 1.9 | | | | 2.3 | |
| Russia | | | 1.4 | | | | 1.5 | | | | 1.3 | |
| Norway | | | .2 | | | | .2 | | | | .6 | |
| Other Europe | | | .1 | | | | .1 | | | | .8 | |
| | | | 52.0 | | | | 49.8 | | | | 49.0 | |
| | | | | | | | | | | | | |
| Pacific Basin | | | | | | | | | | | | |
| Japan | | | 13.8 | | | | 11.1 | | | | 15.5 | |
| China | | | 5.3 | | | | 5.1 | | | | 4.1 | |
| South Korea | | | 4.6 | | | | 4.5 | | | | 3.4 | |
| Hong Kong | | | 4.4 | | | | 4.2 | | | | 2.1 | |
| Canada | | | 2.7 | | | | 2.9 | | | | 7.2 | |
| Taiwan | | | 1.5 | | | | 1.9 | | | | 2.4 | |
| Australia | | | 1.0 | | | | 1.9 | | | | 5.7 | |
| Thailand | | | .7 | | | | .8 | | | | .5 | |
| Indonesia | | | .4 | | | | .8 | | | | .5 | |
| Other Pacific Basin | | | 2.3 | | | | 2.3 | | | | 3.3 | |
| | | | 36.7 | | | | 35.5 | | | | 44.7 | |
| | | | | | | | | | | | | |
| Other | | | | | | | | | | | | |
| India | | | 3.3 | | | | 4.8 | | | | 1.2 | |
| South Africa | | | 1.7 | | | | 2.1 | | | | 1.6 | |
| Israel | | | .9 | | | | 1.0 | | | | .3 | |
| Brazil | | | .4 | | | | .7 | | | | 2.5 | |
| Other countries | | | — | | | | — | | | | .7 | |
| | | | 6.3 | | | | 8.6 | | | | 6.3 | |
| | | | | | | | | | | | |
| Short-term securities & other assets less liabilities | | | 5.0 | | | | 6.1 | | | | — | |
| | | | | | | | | | | | | |
| Total | | | 100.0 | % | | | 100.0 | % | | | 100.0 | % |
| 1 | A country is considered part of the Pacific Basin if any of its borders touches the Pacific Ocean. |
| 2 | Weighted by market capitalization. |
| 3 | Countries using the euro as a common currency: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain. |
A number of investments in the financials sector made positive contributions to the fund, with portfolio managers increasing their exposure to banks amid signs of improvement. Several banks advanced as the recovery continued for the sector, including Bank of Ireland and Société Générale. Another French firm, insurance provider AXA, posted steady gains during the period, as did British firm Prudential.
After several months of strong gains, some health care companies lagged the market during the period, including Novo Nordisk, the fund’s largest holding. However, portfolio managers continue to be optimistic about the company’s long-term prospects in the diabetes market. Another holding, Belgian biopharmaceutical firm UCB, suffered as sales declined due to a tame allergy season in Europe and lower-than-expected results for its blockbuster drug Cimzia. In general, the fund does not have much exposure to the biotechnology industry, which is primarily based in the U.S. and has experienced strong growth within the health care sector.
Looking ahead
To be clear, economic growth does not always correlate well to stock market returns, but the signs of progress in Europe and Japan are encouraging for their economies as well as investors in those markets. Our portfolio managers continue to find many investment opportunities in Europe, including an increasing number of domestic companies such as banks and airlines. Likewise, Japan is going through a transition period; the results are still unclear, but could hold promise for Japan. While we own several Japanese companies in the fund, including many exporters that have benefited from the lower yen, others such as banks and retailers could become more attractive if the country is able to turn its economy around. The recent problems in emerging markets also bear close watching and we have reduced our exposure amid concerns in the near term. However, we remain optimistic on the long-term prospects for emerging markets growth and continue to find many attractive investment opportunities, especially among the new wave of companies that are disrupting old technologies.
As always, we thank you, our fellow investors, for your continued support of EuroPacific Growth Fund.
Sincerely,
 |  |
| | |
| Michael Thawley | Carl Kawaja |
| Vice Chairman of the Board | President |
| | |
| November 8, 2013 | |
For current information about the fund, visit americanfunds.com.
| Summary investment portfolio September 30, 2013 | unaudited |
| Industry sector diversification | Percent of net assets |
| Country diversification | | Percent of
net assets |
| Euro zone* | | | 25.2 | % |
| Japan | | | 13.8 | |
| United Kingdom | | | 12.1 | |
| Switzerland | | | 6.9 | |
| China | | | 5.3 | |
| South Korea | | | 4.6 | |
| Hong Kong | | | 4.4 | |
| Denmark | | | 4.3 | |
| India | | | 3.3 | |
| Canada | | | 2.7 | |
| Sweden | | | 1.8 | |
| South Africa | | | 1.7 | |
| Taiwan | | | 1.5 | |
| Other countries | | | 7.4 | |
| Short-term securities & other assets less liabilities | | | 5.0 | |
| * | Countries using the euro as a common currency; those represented in the fund’s portfolio are Austria, Belgium, Finland, France, Germany, Ireland, Italy, the Netherlands, Portugal and Spain. |
| Common stocks 94.18% | | Shares | | | Value
(000) | | | Percent of
net assets | |
| Financials 18.29% | | | | | | | | | | | | |
| Prudential PLC | | | 92,393,984 | | | $ | 1,721,627 | | | | 1.50 | % |
| Barclays PLC | | | 383,782,206 | | | | 1,649,565 | | | | 1.43 | |
| AXA SA | | | 44,498,268 | | | | 1,030,916 | | | | .90 | |
| Société Générale | | | 16,391,896 | | | | 816,734 | | | | .71 | |
| AIA Group Ltd. | | | 166,035,600 | | | | 780,309 | | | | .68 | |
| Bank of Ireland1,2 | | | 2,410,600,276 | | | | 684,848 | | | | .60 | |
| Mizuho Financial Group, Inc. | | | 313,805,000 | | | | 679,999 | | | | .59 | |
| UniCredit SpA | | | 104,221,238 | | | | 664,371 | | | | .58 | |
| Sberbank of Russia (ADR) | | | 41,180,875 | | | | 495,954 | | | | .55 | |
| Sberbank of Russia (GDR)3 | | | 11,167,686 | | | | 134,571 | | | | | |
| Credit Suisse Group AG | | | 20,591,691 | | | | 628,896 | | | | .55 | |
| Commerzbank AG, non-registered shares1 | | | 52,968,488 | | | | 609,813 | | | | .53 | |
| Housing Development Finance Corp. Ltd. | | | 49,262,570 | | | | 601,372 | | | | .52 | |
| HDFC Bank Ltd. | | | 57,777,675 | | | | 547,321 | | | | .48 | |
| Agricultural Bank of China, Class H | | | 1,177,816,000 | | | | 542,143 | | | | .47 | |
| Other securities | | | | | | | 9,426,293 | | | | 8.20 | |
| | | | | | | | 21,014,732 | | | | 18.29 | |
| | | | | | | | | | | | | |
| Consumer discretionary 13.14% | | | | | | | | | | | | |
| Honda Motor Co., Ltd. | | | 28,934,250 | | | | 1,099,440 | | | | .96 | |
| Rakuten, Inc. | | | 63,569,000 | | | | 960,374 | | | | .84 | |
| Volkswagen AG, nonvoting preferred | | | 3,913,575 | | | | 922,563 | | | | .80 | |
| Renault SA | | | 8,725,987 | | | | 695,666 | | | | .61 | |
| Hyundai Motor Co. | | | 2,864,390 | | | | 669,004 | | | | .58 | |
| adidas AG | | | 5,459,000 | | | | 592,146 | | | | .52 | |
| Sands China Ltd. | | | 93,499,200 | | | | 578,049 | | | | .50 | |
| Industria de Diseño Textil, SA | | | 3,623,534 | | | | 558,349 | | | | .49 | |
| Naspers Ltd., Class N | | | 5,891,000 | | | | 544,751 | | | | .47 | |
| Other securities | | | | | | | 8,473,601 | | | | 7.37 | |
| | | | | | | | 15,093,943 | | | | 13.14 | |
| | | | | | | | | | | | | |
| Information technology 12.11% | | | | | | | | | | | | |
| Samsung Electronics Co. Ltd. | | | 1,841,950 | | | | 2,342,983 | | | | 2.07 | |
| Samsung Electronics Co. Ltd., nonvoting preferred | | | 48,800 | | | | 39,778 | | | | | |
| Tencent Holdings Ltd. | | | 32,958,000 | | | | 1,728,660 | | | | 1.51 | |
| Taiwan Semiconductor Manufacturing Co. Ltd. | | | 347,332,136 | | | | 1,180,603 | | | | 1.11 | |
| Taiwan Semiconductor Manufacturing Co. Ltd. (ADR) | | | 5,822,723 | | | | 98,753 | | | | | |
| Baidu, Inc., Class A (ADR)1 | | | 8,205,900 | | | | 1,273,392 | | | | 1.11 | |
| Common stocks (continued) | | Shares | | | Value
(000) | | | Percent of
net assets | |
| Murata Manufacturing Co., Ltd.2 | | | 14,705,400 | | | $ | 1,120,540 | | | | .98 | % |
| Nintendo Co., Ltd.2 | | | 8,741,600 | | | | 989,817 | | | | .86 | |
| ASML Holding NV | | | 8,374,611 | | | | 827,060 | | | | .72 | |
| Infineon Technologies AG2 | | | 56,470,947 | | | | 564,954 | | | | .49 | |
| Gemalto NV2 | | | 5,250,065 | | | | 563,729 | | | | .49 | |
| Other securities | | | | | | | 3,184,311 | | | | 2.77 | |
| | | | | | | | 13,914,580 | | | | 12.11 | |
| | | | | | | | | | | | | |
| Health care 11.82% | | | | | | | | | | | | |
| Novo Nordisk A/S, Class B | | | 25,458,316 | | | | 4,322,248 | | | | 3.76 | |
| Bayer AG | | | 21,448,384 | | | | 2,529,073 | | | | 2.20 | |
| Novartis AG | | | 31,057,725 | | | | 2,386,810 | | | | 2.08 | |
| Teva Pharmaceutical Industries Ltd. (ADR) | | | 25,949,300 | | | | 980,365 | | | | .86 | |
| Roche Holding AG | | | 3,030,000 | | | | 817,180 | | | | .71 | |
| Other securities | | | | | | | 2,542,377 | | | | 2.21 | |
| | | | | | | | 13,578,053 | | | | 11.82 | |
| | | | | | | | | | | | | |
| Industrials 10.52% | | | | | | | | | | | | |
| European Aeronautic Defence and Space Co. EADS NV | | | 15,521,890 | | | | 988,938 | | | | .86 | |
| Rolls-Royce Holdings PLC1 | | | 40,859,035 | | | | 735,551 | | | | .64 | |
| Ryanair Holdings PLC (ADR) | | | 14,541,120 | | | | 723,275 | | | | .63 | |
| ASSA ABLOY AB, Class B | | | 12,223,000 | | | | 561,063 | | | | .49 | |
| Other securities | | | | | | | 9,085,025 | | | | 7.90 | |
| | | | | | | | 12,093,852 | | | | 10.52 | |
| | | | | | | | | | | | | |
| Consumer staples 8.93% | | | | | | | | | | | | |
| Nestlé SA | | | 21,793,799 | | | | 1,524,252 | | | | 1.33 | |
| British American Tobacco PLC | | | 23,224,999 | | | | 1,231,930 | | | | 1.07 | |
| Pernod Ricard SA | | | 8,851,702 | | | | 1,099,187 | | | | .96 | |
| Anheuser-Busch InBev NV | | | 10,301,317 | | | | 1,025,421 | | | | .89 | |
| Associated British Foods PLC | | | 20,611,900 | | | | 625,995 | | | | .55 | |
| Other securities | | | | | | | 4,749,059 | | | | 4.13 | |
| | | | | | | | 10,255,844 | | | | 8.93 | |
| | | | | | | | | | | | | |
| Telecommunication services 5.58% | | | | | | | | | | | | |
| SoftBank Corp. | | | 50,813,600 | | | | 3,510,090 | | | | 3.06 | |
| Vodafone Group PLC | | | 264,744,919 | | | | 925,766 | | | | .81 | |
| MTN Group Ltd. | | | 32,070,700 | | | | 626,066 | | | | .54 | |
| Other securities | | | | | | | 1,348,365 | | | | 1.17 | |
| | | | | | | | 6,410,287 | | | | 5.58 | |
| | | | | | | | | | | | | |
| Materials 4.88% | | | | | | | | | | | | |
| Syngenta AG | | | 1,717,315 | | | | 701,472 | | | | .61 | |
| Other securities | | | | | | | 4,903,268 | | | | 4.27 | |
| | | | | | | | 5,604,740 | | | | 4.88 | |
| Common stocks (continued) | | Shares | | | Value
(000) | | | Percent of
net assets | |
| Energy 2.87% | | | | | | | | | | | | |
| BP PLC | | | 84,310,164 | | | $ | 591,137 | | | | .51 | % |
| Other securities | | | | | | | 2,707,984 | | | | 2.36 | |
| | | | | | | | 3,299,121 | | | | 2.87 | |
| | | | | | | | | | | | | |
| Utilities 1.21% | | | | | | | | | | | | |
| Other securities | | | | | | | 1,386,234 | | | | 1.21 | |
| | | | | | | | | | | | | |
| Miscellaneous 4.83% | | | | | | | | | | | | |
| Other common stocks in initial period of acquisition | | | | | | | 5,555,971 | | | | 4.83 | |
| | | | | | | | | | | | | |
| Total common stocks (cost: $70,708,172,000) | | | | | | | 108,207,357 | | | | 94.18 | |
| | | | | | | | | | | | | |
| Rights 0.10% | | | | | | | | | | | | |
| Miscellaneous 0.10% | | | | | | | | | | | | |
| Other rights in initial period of acquisition | | | | | | | 118,465 | | | | .10 | |
| | | | | | | | | | | | | |
| Total rights (cost: $0) | | | | | | | 118,465 | | | | .10 | |
| | | | | | | | | | | | | |
| Bonds, notes & other debt instruments 0.72% | |
| U. S. Treasury bonds & notes 0.72% | | | | | | | | | | | | |
| Other securities | | | | | | | 824,550 | | | | .72 | |
| | | | | | | | | | | | | |
Total bonds, notes & other debt instruments
(cost: $824,065,000) | | | | | | | 824,550 | | | | .72 | |
| Short-term securities 5.11% | | | Principal amount
(000) | | | | | | | | | |
| Freddie Mac 0.08%–0.16% due 10/22/2013–6/20/2014 | | $ | 2,249,150 | | | | 2,248,553 | | | | 1.96 | |
| Fannie Mae 0.11%–0.15% due 10/1/2013–8/1/2014 | | | 1,143,700 | | | | 1,143,438 | | | | .99 | |
| Other securities | | | | | | | 2,477,114 | | | | 2.16 | |
| | | | | | | | | | | | | |
| Total short-term securities (cost: $5,868,014,000) | | | | | | | 5,869,105 | | | | 5.11 | |
| Total investment securities (cost: $77,400,251,000) | | | | | | | 115,019,477 | | | | 100.11 | |
| Other assets less liabilities | | | | | | | (121,292 | ) | | | (.11 | ) |
| | | | | | | | | | | | | |
| Net assets | | | | | | $ | 114,898,185 | | | | 100.00 | % |
This summary investment portfolio is designed to streamline the report and help investors better focus on the fund’s principal holdings. See the inside back cover for details on how to obtain a complete schedule of portfolio holdings.
As permitted by U.S. Securities and Exchange Commission regulations, “Miscellaneous” securities include holdings in their first year of acquisition that have not previously been publicly disclosed.
“Other securities” includes all issues that are not disclosed separately in the summary investment portfolio, including securities which were valued under fair value procedures adopted by authority of the board of trustees. The total value of all such securities was $229,865,000, which represented .20% of the net assets of the fund. “Other securities” also includes a portion of a security which was pledged as collateral for net losses on unsettled forward currency contracts. The total value of pledged collateral was $8,346,000, which represented less than ..01% of the net assets of the fund.
Forward currency contracts
The fund has entered into forward currency contracts to sell currencies as shown in the following table. The open forward currency contracts shown are generally indicative of the level of activity over the prior 12-month period.
| | | | | | | Contract amount | | Unrealized
appreciation
(depreciation) | |
| | | Settlement date | | Counterparty | | Receive
(000) | | Deliver
(000) | | at 9/30/2013
(000) | |
| Sales: | | | | | | | | | | | | |
| Australian dollars | | 10/21/2013 | | Barclays Bank PLC | | $36,126 | | A$38,700 | | | $77 | |
| Australian dollars | | 10/24/2013 | | UBS AG | | $36,903 | | A$39,300 | | | 303 | |
| Euros | | 10/3/2013 | | Citibank | | $75,057 | | €55,900 | | | (568 | ) |
| Euros | | 10/4/2013 | | Bank of America, N.A. | | $213,144 | | €160,000 | | | (3,314 | ) |
| Euros | | 10/17/2013 | | Barclays Bank PLC | | $97,422 | | €73,183 | | | (1,588 | ) |
| Euros | | 10/18/2013 | | JPMorgan Chase | | $86,507 | | €65,000 | | | (1,432 | ) |
| Euros | | 10/21/2013 | | UBS AG | | $43,580 | | €32,600 | | | (525 | ) |
| Euros | | 10/24/2013 | | UBS AG | | $459,983 | | €340,000 | | | (16 | ) |
| Euros | | 10/28/2013 | | JPMorgan Chase | | $308,785 | | €228,819 | | | (796 | ) |
| Euros | | 11/1/2013 | | UBS AG | | $39,965 | | €29,560 | | | (28 | ) |
| Euros | | 11/8/2013 | | HSBC Bank | | $67,650 | | €50,000 | | | — | 4 |
| Japanese yen | | 10/21/2013 | | Bank of New York Mellon | | $70,487 | | ¥6,975,000 | | | (483 | ) |
| Japanese yen | | 10/25/2013 | | Barclays Bank PLC | | $332,553 | | ¥33,042,500 | | | (3,656 | ) |
| Japanese yen | | 10/28/2013 | | HSBC Bank | | $43,481 | | ¥4,300,000 | | | (273 | ) |
| Japanese yen | | 10/28/2013 | | Bank of America, N.A. | | $164,838 | | ¥16,300,000 | | | (1,019 | ) |
| Japanese yen | | 11/5/2013 | | HSBC Bank | | $593,186 | | ¥58,258,446 | | | 366 | |
| Japanese yen | | 11/5/2013 | | Barclays Bank PLC | | $427,222 | | ¥41,957,500 | | | 276 | |
| Swiss francs | | 10/17/2013 | | Citibank | | $140,086 | | CHF130,280 | | | (3,993 | ) |
| | | | | | | | | | | | $(16,669 | ) |
Investment 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. The value of the fund’s affiliated-company holdings is either shown in the summary investment portfolio or included in the value of “Other securities” under the respective industry sectors. Further details on such holdings and related transactions during the six months ended September 30, 2013, appear below.
| | | Beginning
shares | | | Additions | | | Reductions | | | Ending
shares | | | Dividend
income
(000) | | | Value of
affiliates at
9/30/2013
(000) | |
| Murata Manufacturing Co., Ltd. | | | 15,308,200 | | | | 2,200 | | | | 605,000 | | | | 14,705,400 | | | $ | 8,322 | | | $ | 1,120,540 | |
| Nintendo Co., Ltd. | | | 6,482,100 | | | | 2,259,500 | | | | — | | | | 8,741,600 | | | | 6,431 | | | | 989,817 | |
| Bank of Ireland1 | | | 2,410,600,276 | | | | — | | | | — | | | | 2,410,600,276 | | | | — | | | | 684,848 | |
| InfineonTechnologies AG | | | 63,615,947 | | | | — | | | | 7,145,000 | | | | 56,470,947 | | | | — | | | | 564,954 | |
| Gemalto NV | | | 3,373,083 | | | | 1,876,982 | | | | — | | | | 5,250,065 | | | | 1,962 | | | | 563,729 | |
| Fairfax Financial Holdings Ltd. | | | 711,291 | | | | 115,000 | | | | — | | | | 826,291 | | | | — | | | | 336,753 | |
| Fairfax Financial Holdings Ltd. (CAD denominated) | | | 325,000 | | | | — | | | | — | | | | 325,000 | | | | — | | | | 131,432 | |
| Ctrip.com International, Ltd. (ADR)1 | | | 6,807,000 | | | | 237,000 | | | | — | | | | 7,044,000 | | | | — | | | | 411,581 | |
| Sysmex Corp. | | | 3,206,800 | | | | 2,270,700 | | | | — | | | | 5,477,500 | | | | 1,256 | | | | 348,839 | |
| Chr. Hansen Holding A/S | | | 8,191,000 | | | | — | | | | — | | | | 8,191,000 | | | | — | | | | 290,015 | |
| NetEase, Inc. (ADR)5 | | | 6,578,800 | | | | — | | | | 986,376 | | | | 5,592,424 | | | | — | | | | — | |
| UCB SA5 | | | 12,702,491 | | | | — | | | | 6,113,767 | | | | 6,588,724 | | | | 12,381 | | | | — | |
| | | | | | | | | | | | | | | | | | | $ | 30,352 | | | $ | 5,442,508 | |
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 | Represents an affiliated company as defined under the Investment Company Act of 1940. |
| 3 | Acquired in a transaction exempt from registration under Rule 144A or section 4(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities, including those in “Other securities,” was $1,894,474,000, which represented 1.65% of the net assets of the fund. |
| 4 | Amount less than one thousand. |
| 5 | Unaffiliated issuer at 9/30/2013. |
Key to abbreviations and symbols
ADR = American Depositary Receipts
GDR = Global Depositary Receipts
A$ = Australian dollars
CAD = Canadian dollars
CHF = Swiss francs
€ = Euros
¥ = Japanese yen
See Notes to Financial Statements
| 10 | EuroPacific Growth Fund |
Financial statements
Statement of assets and liabilities
at September 30, 2013 | | unaudited
(dollars in thousands) | |
| | | | | | | | | |
| Assets: | | | | | | | | |
| Investment securities, at value: | | | | | | | | |
| Unaffiliated issuers (cost: $73,074,368) | | $ | 109,576,969 | | | | | |
| Affiliated issuers (cost: $4,325,883) | | | 5,442,508 | | | $ | 115,019,477 | |
| Cash denominated in currencies other than U.S. dollars (cost: $30,206) | | | | | | | 30,194 | |
| Cash | | | | | | | 1,930 | |
| Unrealized appreciation on open forward currency contracts | | | | | | | 1,022 | |
| Receivables for: | | | | | | | | |
| Sales of investments | | | 168,553 | | | | | |
| Sales of fund’s shares | | | 307,591 | | | | | |
| Closed forward currency contracts | | | 4,540 | | | | | |
| Dividends and interest | | | 236,140 | | | | 716,824 | |
| | | | | | | | 115,769,447 | |
| Liabilities: | | | | | | | | |
| Unrealized depreciation on open forward currency contracts | | | | | | | 17,691 | |
| Payables for: | | | | | | | | |
| Purchases of investments | | | 277,156 | | | | | |
| Repurchases of fund’s shares | | | 495,730 | | | | | |
| Closed forward currency contracts | | | 3,600 | | | | | |
| Investment advisory services | | | 39,263 | | | | | |
| Services provided by related parties | | | 32,914 | | | | | |
| Trustees’ deferred compensation | | | 3,335 | | | | | |
| Other | | | 1,573 | | | | 853,571 | |
| Net assets at September 30, 2013 | | | | | | $ | 114,898,185 | |
| | | | | | | | | |
| Net assets consist of: | | | | | | | | |
| Capital paid in on shares of beneficial interest | | | | | | $ | 88,535,408 | |
| Undistributed net investment income | | | | | | | 618,349 | |
| Accumulated net realized loss | | | | | | | (11,864,087 | ) |
| Net unrealized appreciation | | | | | | | 37,608,515 | |
| Net assets at September 30, 2013 | | | | | | $ | 114,898,185 | |
(dollars and shares in thousands, except per-share amounts)
Shares of beneficial interest issued and outstanding (no stated par value) —
unlimited shares authorized (2,508,274 total shares outstanding)
| | | Net assets | | | Shares
outstanding | | | Net asset
value per share | |
| Class A | | $ | 31,078,545 | | | | 675,445 | | | $ | 46.01 | |
| Class B | | | 298,593 | | | | 6,548 | | | | 45.60 | |
| Class C | | | 1,948,004 | | | | 43,498 | | | | 44.78 | |
| Class F-1 | | | 8,877,869 | | | | 194,034 | | | | 45.75 | |
| Class F-2 | | | 8,724,937 | | | | 189,587 | | | | 46.02 | |
| Class 529-A | | | 1,075,385 | | | | 23,600 | | | | 45.57 | |
| Class 529-B | | | 35,670 | | | | 795 | | | | 44.87 | |
| Class 529-C | | | 349,062 | | | | 7,847 | | | | 44.48 | |
| Class 529-E | | | 57,575 | | | | 1,275 | | | | 45.15 | |
| Class 529-F-1 | | | 82,881 | | | | 1,817 | | | | 45.61 | |
| Class R-1 | | | 277,087 | | | | 6,264 | | | | 44.24 | |
| Class R-2 | | | 1,058,527 | | | | 23,752 | | | | 44.57 | |
| Class R-3 | | | 7,063,763 | | | | 156,772 | | | | 45.06 | |
| Class R-4 | | | 13,474,576 | | | | 298,146 | | | | 45.19 | |
| Class R-5 | | | 12,697,020 | | | | 275,857 | | | | 46.03 | |
| Class R-6 | | | 27,798,691 | | | | 603,037 | | | | 46.10 | |
See Notes to Financial Statements
| EuroPacific Growth Fund | 11 |
Statement of operations
for the six months ended September 30, 2013 | | unaudited
(dollars in thousands) | |
| | | | | | | | | |
| Investment income: | | | | | | | | |
| Income: | | | | | | | | |
| Dividends (net of non-U.S. taxes of $141,423; also includes $30,352 from affiliates) | | $ | 1,357,999 | | | | | |
| Interest | | | 5,546 | | | $ | 1,363,545 | |
| Fees and expenses*: | | | | | | | | |
| Investment advisory services | | | 232,688 | | | | | |
| Distribution services | | | 99,803 | | | | | |
| Transfer agent services | | | 53,378 | | | | | |
| Administrative services | | | 21,451 | | | | | |
| Reports to shareholders | | | 2,238 | | | | | |
| Registration statement and prospectus | | | 755 | | | | | |
| Trustees’ compensation | | | 257 | | | | | |
| Auditing and legal | | | 65 | | | | | |
| Custodian | | | 10,955 | | | | | |
| Other | | | 1,110 | | | | 422,700 | |
| Net investment income | | | | | | | 940,845 | |
| | | | | | | | | |
| Net realized gain and unrealized appreciation on investments, forward currency contracts and currency: | | | | | | | | |
| Net realized gain (loss) on: | | | | | | | | |
| Investments (net of non-U.S. taxes of $110; also includes $41,455 net gain from affiliates) | | | 1,993,193 | | | | | |
| Forward currency contracts | | | (82,011 | ) | | | | |
| Currency transactions | | | (21,570 | ) | | | 1,889,612 | |
| Net unrealized appreciation (depreciation) on: | | | | | | | | |
| Investments | | | 6,360,042 | | | | | |
| Forward currency contracts | | | (28,477 | ) | | | | |
| Currency translations | | | 8,757 | | | | 6,340,322 | |
| Net realized gain and unrealized appreciation on investments, forward currency contracts and currency | | | | | | | 8,229,934 | |
| | | | | | | | | |
| Net increase in net assets resulting from operations | | | | | | $ | 9,170,779 | |
* Additional information related to class-specific fees and expenses is included in the Notes to Financial Statements.
See Notes to Financial Statements
| 12 | EuroPacific Growth Fund |
Statements of changes in net assets
(dollars in thousands)
| | | Six months ended
September 30, 2013* | | | Year ended
March 31, 2013 | |
| Operations: | | | | | | | | |
| Net investment income | | $ | 940,845 | | | $ | 1,536,370 | |
| Net realized gain on investments, forward currency contracts and currency transactions | | | 1,889,612 | | | | 512,404 | |
| Net unrealized appreciation on investments, forward currency contracts and currency translations | | | 6,340,322 | | | | 7,018,547 | |
| Net increase in net assets resulting from operations | | | 9,170,779 | | | | 9,067,321 | |
| | | | | | | | | |
| Dividends paid to shareholders from net investment income | | | — | | | | (1,820,998 | ) |
| | | | | | | | | |
| Net capital share transactions | | | (1,789,253 | ) | | | (949,939 | ) |
| | | | | | | | | |
| Total increase in net assets | | | 7,381,526 | | | | 6,296,384 | |
| | | | | | | | | |
| Net assets: | | | | | | | | |
| Beginning of period | | | 107,516,659 | | | | 101,220,275 | |
| End of period (including undistributed and distributions in excess of net investment income: $618,349 and $(322,496), respectively) | | $ | 114,898,185 | | | $ | 107,516,659 | |
* Unaudited.
See Notes to Financial Statements
| EuroPacific Growth Fund | 13 |
| Notes to financial statements | unaudited |
1. Organization
EuroPacific Growth Fund (the “fund”) is registered under the Investment Company Act of 1940 as an open-end, diversified management investment company. The fund seeks long-term growth of capital by investing primarily in the securities of companies based in Europe and the Pacific Basin. Shareholders approved a proposal to reorganize the fund from a Massachusetts business trust to a Delaware statutory trust. The reorganization may be completed in 2013 or 2014; however, the fund reserves the right to delay the implementation.
The fund has 16 share classes consisting of five retail share classes (Classes A, B and C, as well as two F share classes, F-1 and F-2), five 529 college savings plan share classes (Classes 529-A, 529-B, 529-C, 529-E and 529-F-1) and six retirement plan share classes (Classes R-1, R-2, R-3, R-4, R-5 and R-6). The 529 college savings plan share classes can be used to save for college education. The retirement plan share classes are generally offered only through eligible employer-sponsored retirement plans. The fund’s share classes are further described below:
| Share class | | Initial sales
charge | | Contingent deferred sales charge upon redemption | | Conversion feature |
| Classes A and 529-A | | Up to 5.75% | | None (except 1% for certain redemptions within one year of purchase without an initial sales charge) | | None |
| Classes B and 529-B* | | None | | Declines from 5% to 0% for redemptions within six years of purchase | | Classes B and 529-B convert to Classes A and 529-A, respectively, after eight years |
| Class C | | None | | 1% for redemptions within one year of purchase | | Class C converts to Class F-1 after 10 years |
| Class 529-C | | None | | 1% for redemptions within one year of purchase | | None |
| Class 529-E | | None | | None | | None |
| Classes F-1, F-2 and 529-F-1 | | None | | None | | None |
| Classes R-1, R-2, R-3, R-4, R-5 and R-6 | | None | | None | | None |
* Class B and 529-B shares of the fund are not available for purchase.
Holders of all share classes have equal pro rata rights to assets, dividends and liquidation proceeds. Each share class has identical voting rights, except for the exclusive right to vote on matters affecting only its class. Share classes have different fees and expenses (“class-specific fees and expenses”), primarily due to different arrangements for distribution, administrative and shareholder services. Differences in class-specific fees and expenses will result in differences in net investment income and, therefore, the payment of different per-share dividends by each share class.
| 14 | EuroPacific Growth Fund |
2. Significant accounting policies
The financial statements have been prepared to comply with accounting principles generally accepted in the United States of America. These principles require management to make estimates and assumptions that affect reported amounts and disclosures. Actual results could differ from those estimates. The fund follows the significant accounting policies described below, as well as the valuation policies described in the next section on valuation.
Security transactions and related investment income — Security transactions are recorded by the 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. In the event a security is purchased with a delayed payment date, the fund will segregate liquid assets sufficient to meet its payment obligations. 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 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 supplied by one or more pricing vendors 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.
3. Valuation
Capital Research and Management Company (“CRMC”), the fund’s investment adviser, values the fund’s investments at fair value as defined by accounting principles generally accepted in the United States of America. The net asset value of each share class of the fund is generally determined as of approximately 4:00 p.m. New York time each day the New York Stock Exchange is open.
| EuroPacific Growth Fund | 15 |
Methods and inputs — The fund’s investment adviser uses the following methods and inputs to establish the fair value of the fund’s assets and liabilities. Use of particular methods and inputs may vary over time based on availability and relevance as market and economic conditions evolve.
Equity securities are generally 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 on which the security trades.
Fixed-income securities, including short-term securities purchased with more than 60 days left to maturity, are generally valued at prices obtained from one or more pricing vendors. Vendors value such securities based on one or more of the inputs described in the following table. The table provides examples of inputs that are commonly relevant for valuing particular classes of fixed-income securities in which the fund is authorized to invest. However, these classifications are not exclusive, and any of the inputs may be used to value any other class of fixed-income security.
| Fixed-income class | Examples of standard inputs |
| All | Benchmark yields, transactions, bids, offers, quotations from dealers and trading systems, new issues, spreads and other relationships observed in the markets among comparable securities; and proprietary pricing models such as yield measures calculated using factors such as cash flows, financial or collateral performance and other reference data (collectively referred to as “standard inputs”) |
| Corporate bonds & notes; convertible securities | Standard inputs and underlying equity of the issuer |
| Bonds & notes of governments & government agencies | Standard inputs and interest rate volatilities |
When the fund’s investment adviser deems it appropriate to do so (such as when vendor prices are unavailable or not deemed to be representative), fixed-income securities will be valued in good faith at the mean quoted bid and ask prices that are reasonably and timely available (or bid prices, if ask 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 generally valued in the manner described above for either equity or fixed-income securities, depending on which method is deemed most appropriate by the fund’s investment adviser. Short-term securities purchased within 60 days to maturity are valued at amortized cost, which approximates fair value. The value of short-term securities originally purchased with maturities greater than 60 days
| 16 | EuroPacific Growth Fund |
is determined based on an amortized value to par when they reach 60 days. Forward currency contracts are valued at the mean of representative quoted bid and ask prices, generally based on prices supplied by one or more pricing vendors.
Securities and other assets for which representative market quotations are not readily available or are considered unreliable by the fund’s investment adviser are fair valued as determined in good faith under fair valuation guidelines adopted by authority of the fund’s board of trustees as further described below. The investment adviser follows fair valuation guidelines, consistent with U.S. Securities and Exchange Commission rules and guidance, to consider relevant principles and factors when making fair value determinations. The investment adviser considers relevant indications of value that are reasonably and timely available to it in determining the fair value to be assigned to a particular security, such as 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. In addition, the closing prices of equity securities that trade in markets outside U.S. time zones may be adjusted to reflect significant events that occur after the close of local trading but before the net asset value of each share class of the fund is determined. Fair valuations and valuations of investments that are not actively trading involve judgment and may differ materially from valuations that would have been used had greater market activity occurred.
Processes and structure — The fund’s board of trustees has delegated authority to the fund’s investment adviser to make fair value determinations, subject to board oversight. The investment adviser has established a Joint Fair Valuation Committee (the “Fair Valuation Committee”) to administer, implement and oversee the fair valuation process, and to make fair value decisions. The Fair Valuation Committee regularly reviews its own fair value decisions, as well as decisions made under its standing instructions to the investment adviser’s valuation teams. The Fair Valuation Committee reviews changes in fair value measurements from period to period and may, as deemed appropriate, update the fair valuation guidelines to better reflect the results of back testing and address new or evolving issues. The Fair Valuation Committee reports any changes to the fair valuation guidelines to the board of trustees with supplemental information to support the changes. The fund’s board and audit committee also regularly review reports that describe fair value determinations and methods.
The fund’s investment adviser has also established a Fixed-Income Pricing Review Group to administer and oversee the fixed-income valuation process, including the use of fixed-income pricing vendors. This group regularly reviews pricing vendor information and market data. Pricing decisions, processes and controls over security valuation are also subject to additional internal reviews, including an annual control self-evaluation program facilitated by the investment adviser’s compliance group.
| EuroPacific Growth Fund | 17 |
Classifications — The fund’s investment adviser classifies the fund’s assets and liabilities into three levels based on the inputs used to value the assets or liabilities. Level 1 values are based on quoted prices in active markets for identical securities. Level 2 values are based on significant observable market inputs, such as quoted prices for similar securities and quoted prices in inactive markets. Certain securities trading outside the U.S. may transfer between Level 1 and Level 2 due to valuation adjustments resulting from significant market movements following the close of local trading. Level 3 values are based on significant unobservable inputs that reflect the investment adviser’s determination of assumptions that market participants might reasonably use in valuing the securities. The valuation levels are not necessarily an indication of the risk or liquidity associated with the underlying investment. For example, U.S. government securities are reflected as Level 2 because the inputs used to determine fair value may not always be quoted prices in an active market. The following tables present the fund’s valuation levels as of September 30, 2013 (dollars in thousands):
| | | Investment securities |
| | | Level 1 | | | Level 2 | | | Level 3 | | | Total | |
| Assets: | | | | | | | | | | | | | | | | |
| Common stocks: | | | | | | | | | | | | | | | | |
| Financials | | $ | 21,013,627 | | | $ | — | | | $ | 1,105 | | | $ | 21,014,732 | |
| Consumer discretionary | | | 15,093,943 | | | | — | | | | — | | | | 15,093,943 | |
| Information technology | | | 13,914,580 | | | | — | | | | — | | | | 13,914,580 | |
| Health care | | | 13,578,053 | | | | — | | | | — | | | | 13,578,053 | |
| Industrials | | | 12,093,852 | | | | — | | | | — | | | | 12,093,852 | |
| Consumer staples | | | 10,255,844 | | | | — | | | | — | | | | 10,255,844 | |
| Telecommunication services | | | 6,410,287 | | | | — | | | | — | | | | 6,410,287 | |
| Materials | | | 5,375,980 | | | | 228,760 | | | | — | | | | 5,604,740 | |
| Energy | | | 3,299,121 | | | | — | | | | — | | | | 3,299,121 | |
| Utilities | | | 1,386,234 | | | | — | | | | — | | | | 1,386,234 | |
| Miscellaneous | | | 5,555,971 | | | | — | | | | — | | | | 5,555,971 | |
| Rights | | | 118,465 | | | | — | | | | — | | | | 118,465 | |
| Bonds, notes & other debt instruments | | | — | | | | 824,550 | | | | — | | | | 824,550 | |
| Short-term securities | | | — | | | | 5,869,105 | | | | — | | | | 5,869,105 | |
| Total | | $ | 108,095,957 | | | $ | 6,922,415 | | | $ | 1,105 | | | $ | 115,019,477 | |
| | | Other investments* |
| | | Level 1 | | | Level 2 | | | Level 3 | | | Total | |
| Assets: | | | | | | | | | | | | | | | | |
| Unrealized appreciation on open forward currency contracts | | $ | — | | | $ | 1,022 | | | $ | — | | | $ | 1,022 | |
| Liabilities: | | | | | | | | | | | | | | | | |
| Unrealized depreciation on open forward currency contracts | | | — | | | | (17,691 | ) | | | — | | | | (17,691 | ) |
| Total | | $ | — | | | $ | (16,669 | ) | | $ | — | | | $ | (16,669 | ) |
| * | Forward currency contracts are not included in the investment portfolio. |
| 18 | EuroPacific Growth Fund |
4. Risk factors
Investing in the fund may involve certain risks including, but not limited to, those described below.
Market conditions — The prices of, and the income generated by, the common stocks and other securities held by the fund may decline due to market conditions and other factors, including those directly involving the issuers of securities held by the fund.
Investing in growth-oriented stocks — Growth-oriented stocks may involve larger price swings and greater potential for loss than other types of investments. These risks may be even greater in the case of smaller capitalization stocks.
Investing outside the U.S. — Securities of issuers domiciled outside the U.S., or with significant operations outside the U.S., may lose value because of adverse political, social, economic or market developments or instability in the countries or regions in which the issuers operate. These securities may also lose value due to changes in foreign currency exchange rates against the U.S. dollar and/or currencies of other countries. Securities markets in certain countries may be more volatile and/or less liquid than those in the U.S. Investments outside the U.S. may also be subject to different settlement and accounting practices and different regulatory, legal and reporting standards, and may be more difficult to value, than those in the U.S. The risks of investing outside the U.S. may be heightened in connection with investments in emerging markets.
Investing in emerging markets — Investing in emerging markets may involve risks in addition to and greater than those generally associated with investing in developed countries. For instance, developing countries may have less developed legal and accounting systems than those in developed countries. The governments of these countries may be less stable and more likely to impose capital controls, nationalize a company or industry, place restrictions on foreign ownership and on withdrawing sale proceeds of securities from the country, and/or impose punitive taxes that could adversely affect the prices of securities. In addition, the economies of these countries may be dependent on relatively few industries that are more susceptible to local and global changes. Securities markets in these countries can also be relatively small and have substantially lower trading volumes. As a result, securities issued in these countries may be more volatile and less liquid, and may be more difficult to value, than securities issued in countries with more developed economies and/or markets. Additionally, there may be increased settlement risks for transactions in local securities.
Management — The investment adviser to the fund actively manages the fund’s investments. Consequently, the fund is subject to the risk that the methods and analyses employed by the investment adviser in this process may not produce the desired results. This could cause the fund to lose value or its investment results to lag relevant benchmarks or other funds with similar objectives.
| EuroPacific Growth Fund | 19 |
5. Certain investment techniques
Forward currency contracts — The fund has entered into forward currency contracts, which represent agreements to exchange currencies on specific future dates at predetermined rates. The fund’s investment adviser uses forward currency contracts to manage the fund’s exposure to changes in exchange rates. Upon entering into these contracts, risks may arise from the potential inability of counterparties to meet the terms of their contracts and from possible movements in exchange rates.
On a daily basis, the fund’s investment adviser values forward currency contracts and records unrealized appreciation or depreciation for open forward currency contracts in the fund’s statement of assets and liabilities. Realized gains or losses are recorded at the time the forward currency contract is closed or offset by another contract with the same broker for the same settlement date and currency.
Closed forward currency contracts that have not reached their settlement date are included in the respective receivables or payables for closed forward currency contracts in the fund’s statement of assets and liabilities. Net realized gains or losses from closed forward currency contracts and net unrealized appreciation or depreciation from open forward currency contracts are recorded in the fund’s statement of operations.
Collateral — To reduce the risk to counterparties of forward currency contracts, the fund has entered into a collateral program with certain counterparties. The program calls for the fund to either receive or pledge collateral based on the net gain or loss on unsettled forward currency contracts by counterparty. The purpose of the collateral is to cover potential losses that could occur in the event that either party cannot meet its contractual obligations.
Rights of set-off — The fund has entered into enforceable master netting or similar agreements with certain counterparties, where amounts payable by each party to the other in the same currency, with the same settlement date and with the same counterparty are settled net of each party’s payment obligation. For financial reporting purposes, the fund does not offset financial assets and financial liabilities that are subject to netting arrangements in the statement of assets and liabilities.
| 20 | EuroPacific Growth Fund |
The following table presents the gross amounts of recognized assets and liabilities from the fund’s use of forward currency contracts as of September 30, 2013 (dollars in thousands):
| | | | | | Gross amounts not offset in the
statement of assets and liabilities and
subject to a master netting agreement |
| Counterparty | | Gross amounts
recognized in
the statement of
assets and liabilities | | | Available
to offset | | | Non-cash
collateral* | | | Cash
collateral | | | Net
amount | |
| Assets: | | | | | | | | | | | | | | | | | | | | |
| Barclays Bank PLC | | $ | 4,893 | | | $ | (4,893 | ) | | $ | — | | | $ | — | | | $ | — | |
| HSBC Bank | | | 366 | | | | (366 | ) | | | — | | | | — | | | | — | |
| UBS AG | | | 303 | | | | (303 | ) | | | — | | | | — | | | | — | |
| | | $ | 5,562 | | | $ | (5,562 | ) | | $ | — | | | $ | — | | | $ | — | |
| Liabilities: | | | | | | | | | | | | | | | | | | | | |
| Bank of America, N.A. | | $ | 4,333 | | | $ | — | | | $ | (3,005 | ) | | $ | — | | | $ | — | |
| Bank of New York Mellon | | | 483 | | | | — | | | | (361 | ) | | | — | | | | — | |
| Barclays Bank PLC | | | 5,244 | | | | (4,893 | ) | | | — | | | | — | | | | — | |
| Citibank | | | 4,561 | | | | — | | | | (3,562 | ) | | | — | | | | — | |
| HSBC Bank | | | 3,303 | | | | (366 | ) | | | (320 | ) | | | — | | | | — | |
| JPMorgan Chase | | | 2,228 | | | | — | | | | (1,029 | ) | | | — | | | | — | |
| UBS AG | | | 1,139 | | | | (303 | ) | | | — | | | | — | | | | — | |
| | | $ | 21,291 | | | $ | (5,562 | ) | | $ | (8,277 | ) | | $ | — | | | $ | — | |
| * | Non-cash collateral is shown on a settlement basis. |
6. Taxation and distributions
Federal income taxation — 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.
| EuroPacific Growth Fund | 21 |
As of and during the period ended September 30, 2013, 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 2009, by state tax authorities for tax years before 2008 and by tax authorities outside the U.S. for tax years before 2006.
Non-U.S. taxation — Dividend and interest income are recorded net of non-U.S. taxes paid. Gains realized by the fund on the sale of securities in certain countries are subject to non-U.S. taxes. The fund records a liability based on unrealized gains to provide for potential non-U.S. taxes payable upon the sale of these securities.
Distributions — Distributions paid to shareholders are based on net investment income and net realized gains determined on a tax basis, which may differ from net investment income and net realized gains for financial reporting purposes. These differences are due primarily to different treatment for items such as currency gains and losses; short-term capital gains and losses; capital losses related to sales of certain securities within 30 days of purchase; unrealized appreciation of certain investments in securities outside the U.S.; cost of investments sold; and net capital losses. The fiscal year in which amounts are distributed may differ from the year in which the net investment income and net realized gains are recorded by the fund for financial reporting purposes.
The components of distributable earnings on a tax basis are reported as of the fund’s most recent year-end. As of March 31, 2013, the components of distributable earnings on a tax basis were as follows (dollars in thousands):
| Undistributed ordinary income | | | | | | $ | 526,654 | |
| Capital loss carryforward*: | | | | | | | | |
| No expiration | | $ | (1,348,903 | ) | | | | |
| Expiring 2017 | | | (3,126,924 | ) | | | | |
| Expiring 2018 | | | (8,747,831 | ) | | | (13,223,658 | ) |
| * | The capital loss carryforward will be used to offset any capital gains realized by the fund in the current year or in subsequent years through the expiration dates. The fund will not make distributions from capital gains while a capital loss carryforward remains. |
Under the Regulated Investment Company Modernization Act of 2010 (the “Act”), net capital losses recognized after March, 31, 2011, may be carried forward indefinitely, and their character is retained as short-term and/or long-term losses. Previously, net capital losses were carried forward for eight years and treated as short-term losses. As a transition rule, the Act requires that post-enactment net capital losses be used before pre-enactment net capital losses.
| 22 | EuroPacific Growth Fund |
As of September 30, 2013, the tax basis unrealized appreciation (depreciation) and cost of investment securities were as follows (dollars in thousands):
| Gross unrealized appreciation on investment securities | | $ | 38,373,414 | |
| Gross unrealized depreciation on investment securities | | | (2,038,550 | ) |
| Net unrealized appreciation on investment securities | | | 36,334,864 | |
| Cost of investment securities | | | 78,684,613 | |
No distributions were paid to shareholders during the six months ended September 30, 2013. Tax-basis distributions paid to shareholders from ordinary income during the year ended March 31, 2013, were as follows (dollars in thousands):
| Share class | | | |
| Class A | | $ | 490,114 | |
| Class B | | | 2,741 | |
| Class C | | | 16,880 | |
| Class F-1 | | | 129,588 | |
| Class F-2 | | | 144,367 | |
| Class 529-A | | | 15,943 | |
| Class 529-B | | | 286 | |
| Class 529-C | | | 2,993 | |
| Class 529-E | | | 726 | |
| Class 529-F-1 | | | 1,308 | |
| Class R-1 | | | 2,813 | |
| Class R-2 | | | 10,111 | |
| Class R-3 | | | 97,678 | |
| Class R-4 | | | 216,783 | |
| Class R-5 | | | 266,737 | |
| Class R-6 | | | 421,930 | |
| Total | | $ | 1,820,998 | |
7. Fees and transactions with related parties
CRMC, the fund���s investment adviser, is the parent company of American Funds Distributors,® Inc. (“AFD”), the principal underwriter of the fund’s shares, and American Funds Service Company® (“AFS”), the fund’s transfer agent. CRMC, AFD and AFS are considered related parties to the fund.
Investment advisory services — The fund has an investment advisory and service agreement with CRMC that provides for monthly fees accrued daily. These fees are based on a series of decreasing annual rates beginning with 0.690% on the first $500 million of daily net assets and decreasing to 0.397% on such assets in excess of $115 billion. For the six months ended September 30, 2013, the investment advisory services fee was $232,688,000, which was equivalent to an annualized rate of 0.422% of average daily net assets.
| EuroPacific Growth Fund | 23 |
Class-specific fees and expenses — Expenses that are specific to individual share classes are accrued directly to the respective share class. The principal class-specific fees and expenses are described below:
Distribution services — The fund has plans of distribution for all share classes, except Class F-2, R-5 and R-6 shares. Under the plans, the board of trustees approves certain categories of expenses that are used to finance activities primarily intended to sell fund shares and service existing accounts. The plans provide for payments, based on an annualized percentage of average daily net assets, ranging from 0.25% to 1.00% as noted below. In some cases, the board of trustees has limited the amounts that may be paid to less than the maximum allowed by the plans. All share classes with a plan may use up to 0.25% of average daily net assets to pay service fees, or to compensate AFD for paying service fees, to firms that have entered into agreements with AFD to provide certain shareholder services. The remaining amounts available to be paid under each plan are paid to dealers to compensate them for their sales activities.
For Class A and 529-A shares, distribution-related expenses include the reimbursement of dealer and wholesaler commissions paid by AFD for certain shares sold without a sales charge. These share classes reimburse AFD for amounts billed within the prior 15 months but only to the extent that the overall annual expense limit of 0.25% is not exceeded. As of September 30, 2013, there were no unreimbursed expenses subject to reimbursement for Class A or 529-A shares.
| | Share class | | Currently approved limits | | Plan limits |
| | Class A | | | 0.25 | % | | | 0.25 | % |
| | Class 529-A | | | 0.25 | | | | 0.50 | |
| | Classes B and 529-B | | | 1.00 | | | | 1.00 | |
| | Classes C, 529-C and R-1 | | | 1.00 | | | | 1.00 | |
| | Class R-2 | | | 0.75 | | | | 1.00 | |
| | Classes 529-E and R-3 | | | 0.50 | | | | 0.75 | |
| | Classes F-1, 529-F-1 and R-4 | | | 0.25 | | | | 0.50 | |
Transfer agent services — The fund has a shareholder services agreement with AFS under which the fund compensates AFS for providing transfer agent services to each of the fund’s share classes. These services include recordkeeping, shareholder communications and transaction processing. In addition, the fund reimburses AFS for amounts paid to third parties for performing transfer agent services on behalf of fund shareholders.
Administrative services — The fund has an administrative services agreement with CRMC under which the fund compensates CRMC for providing administrative services to Class A, C, F, 529 and R shares. These services include, but are not limited to, coordinating, monitoring, assisting and overseeing third parties that provide services to fund shareholders. Under the agreement, Class A shares pay an annual fee of 0.01% and Class C, F, 529 and R shares pay an annual fee of 0.05% of their respective average daily net assets.
| 24 | EuroPacific Growth Fund |
529 plan services — Each 529 share class is subject to service fees to compensate the Commonwealth of Virginia for the maintenance of the 529 college savings plan. The quarterly fee is based on a series of decreasing annual rates beginning with 0.10% on the first $30 billion of the net assets invested in Class 529 shares of the American Funds and decreasing to 0.06% on such assets between $120 billion and $150 billion. The fee for any given calendar quarter is accrued and calculated on the basis of the average net assets of Class 529 shares of the American Funds for the last month of the prior calendar quarter. The fee is included in other expenses on the accompanying financial statements. The Commonwealth of Virginia is not considered a related party.
For the six months ended September 30, 2013, class-specific expenses under the agreements were as follows (dollars in thousands):
| | Share class | | Distribution
services | | | Transfer agent
services | | | Administrative
services | | | 529 plan
services |
| | Class A | | | $36,133 | | | | $24,340 | | | | $1,514 | | | Not applicable |
| | Class B | | | 1,537 | | | | 233 | | | | Not applicable | | | Not applicable |
| | Class C | | | 9,435 | | | | 1,325 | | | | 475 | | | Not applicable |
| | Class F-1 | | | 10,580 | | | | 6,067 | | | | 2,133 | | | Not applicable |
| | Class F-2 | | | Not applicable | | | | 3,826 | | | | 2,063 | | | Not applicable |
| | Class 529-A | | | 1,089 | | | | 505 | | | | 257 | | | $503 |
| | Class 529-B | | | 182 | | | | 22 | | | | 9 | | | 18 |
| | Class 529-C | | | 1,667 | | | | 183 | | | | 84 | | | 164 |
| | Class 529-E | | | 137 | | | | 19 | | | | 14 | | | 27 |
| | Class 529-F-1 | | | — | | | | 38 | | | | 19 | | | 38 |
| | Class R-1 | | | 1,458 | | | | 167 | | | | 73 | | | Not applicable |
| | Class R-2 | | | 3,856 | | | | 1,736 | | | | 260 | | | Not applicable |
| | Class R-3 | | | 17,468 | | | | 4,981 | | | | 1,753 | | | Not applicable |
| | Class R-4 | | | 16,261 | | | | 6,656 | | | | 3,257 | | | Not applicable |
| | Class R-5 | | | Not applicable | | | | 3,237 | | | | 3,309 | | | Not applicable |
| | Class R-6 | | | Not applicable | | | | 43 | | | | 6,231 | | | Not applicable |
| | Total class-specific expenses | | | $99,803 | | | | $53,378 | | | | $21,451 | | | $750 |
Trustees’ deferred compensation —Trustees who are unaffiliated with CRMC may elect to defer the cash payment of part or all of their compensation. These deferred amounts, which remain as liabilities of the 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. Trustees’ compensation of $257,000, shown on the accompanying financial statements, includes $158,000 in current fees (either paid in cash or deferred) and a net increase of $99,000 in the value of the deferred amounts.
Affiliated officers and trustees — Officers and certain trustees of the fund are or may be considered to be affiliated with CRMC, AFD and AFS. No affiliated officers or trustees received any compensation directly from the fund.
| EuroPacific Growth Fund | 25 |
8. Capital share transactions
Capital share transactions in the fund were as follows (dollars and shares in thousands):
| | | Sales* | | | Reinvestments
of dividends | | | Repurchases* | | | Net (decrease)
increase | |
| Share class | | Amount | | | Shares | | | Amount | | | Shares | | | Amount | | | Shares | | | Amount | | | Shares | |
| | | | | | | | | | | | | | | | | | | | | | | | | |
| Six months ended September 30, 2013 | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | |
| Class A | | $ | 1,373,675 | | | | 31,440 | | | $ | — | | | | — | | | $ | (2,730,323 | ) | | | (62,415 | ) | | $ | (1,356,648 | ) | | | (30,975 | ) |
| Class B | | | 2,095 | | | | 48 | | | | — | | | | — | | | | (57,724 | ) | | | (1,331 | ) | | | (55,629 | ) | | | (1,283 | ) |
| Class C | | | 99,327 | | | | 2,321 | | | | — | | | | — | | | | (196,815 | ) | | | (4,617 | ) | | | (97,488 | ) | | | (2,296 | ) |
| Class F-1 | | | 1,075,521 | | | | 24,733 | | | | — | | | | — | | | | (1,177,698 | ) | | | (27,330 | ) | | | (102,177 | ) | | | (2,597 | ) |
| Class F-2 | | | 1,080,653 | | | | 24,706 | | | | — | | | | — | | | | (876,138 | ) | | | (20,026 | ) | | | 204,515 | | | | 4,680 | |
| Class 529-A | | | 54,239 | | | | 1,253 | | | | — | | | | — | | | | (62,245 | ) | | | (1,438 | ) | | | (8,006 | ) | | | (185 | ) |
| Class 529-B | | | 322 | | | | 8 | | | | — | | | | — | | | | (6,494 | ) | | | (152 | ) | | | (6,172 | ) | | | (144 | ) |
| Class 529-C | | | 17,463 | | | | 412 | | | | — | | | | — | | | | (23,969 | ) | | | (567 | ) | | | (6,506 | ) | | | (155 | ) |
| Class 529-E | | | 3,135 | | | | 73 | | | | — | | | | — | | | | (3,280 | ) | | | (76 | ) | | | (145 | ) | | | (3 | ) |
| Class 529-F-1 | | | 7,896 | | | | 182 | | | | — | | | | — | | | | (5,589 | ) | | | (128 | ) | | | 2,307 | | | | 54 | |
| Class R-1 | | | 22,603 | | | | 538 | | | | — | | | | — | | | | (56,382 | ) | | | (1,311 | ) | | | (33,779 | ) | | | (773 | ) |
| Class R-2 | | | 104,982 | | | | 2,477 | | | | — | | | | — | | | | (168,831 | ) | | | (3,985 | ) | | | (63,849 | ) | | | (1,508 | ) |
| Class R-3 | | | 685,173 | | | | 16,037 | | | | — | | | | — | | | | (1,148,586 | ) | | | (26,778 | ) | | | (463,413 | ) | | | (10,741 | ) |
| Class R-4 | | | 1,518,780 | | | | 35,454 | | | | — | | | | — | | | | (2,081,277 | ) | | | (48,678 | ) | | | (562,497 | ) | | | (13,224 | ) |
| Class R-5 | | | 1,277,673 | | | | 29,470 | | | | — | | | | — | | | | (3,408,187 | ) | | | (78,350 | ) | | | (2,130,514 | ) | | | (48,880 | ) |
| Class R-6 | | | 4,997,917 | | | | 114,721 | | | | — | | | | — | | | | (2,107,169 | ) | | | (48,287 | ) | | | 2,890,748 | | | | 66,434 | |
| Total net increase (decrease) | | $ | 12,321,454 | | | | 283,873 | | | $ | — | | | | — | | | $ | (14,110,707 | ) | | | (325,469 | ) | | $ | (1,789,253 | ) | | | (41,596 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Year ended March 31, 2013 | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class A | | $ | 2,379,519 | | | | 59,951 | | | $ | 475,517 | | | | 11,615 | | | $ | (6,351,562 | ) | | | (161,770 | ) | | $ | (3,496,526 | ) | | | (90,204 | ) |
| Class B | | | 3,948 | | | | 100 | | | | 2,706 | | | | 66 | | | | (162,254 | ) | | | (4,179 | ) | | | (155,600 | ) | | | (4,013 | ) |
| Class C | | | 138,887 | | | | 3,547 | | | | 16,361 | | | | 408 | | | | (491,314 | ) | | | (12,888 | ) | | | (336,066 | ) | | | (8,933 | ) |
| Class F-1 | | | 2,600,862 | | | | 66,610 | | | | 127,239 | | | | 3,125 | | | | (2,406,183 | ) | | | (61,519 | ) | | | 321,918 | | | | 8,216 | |
| Class F-2 | | | 2,697,120 | | | | 68,073 | | | | 125,753 | | | | 3,078 | | | | (1,484,515 | ) | | | (37,323 | ) | | | 1,338,358 | | | | 33,828 | |
| Class 529-A | | | 111,068 | | | | 2,824 | | | | 15,939 | | | | 393 | | | | (123,071 | ) | | | (3,150 | ) | | | 3,936 | | | | 67 | |
| Class 529-B | | | 753 | | | | 19 | | | | 286 | | | | 7 | | | | (16,817 | ) | | | (439 | ) | | | (15,778 | ) | | | (413 | ) |
| Class 529-C | | | 36,113 | | | | 940 | | | | 2,992 | | | | 75 | | | | (52,464 | ) | | | (1,378 | ) | | | (13,359 | ) | | | (363 | ) |
| Class 529-E | | | 6,182 | | | | 158 | | | | 726 | | | | 18 | | | | (7,174 | ) | | | (185 | ) | | | (266 | ) | | | (9 | ) |
| Class 529-F-1 | | | 14,348 | | | | 367 | | | | 1,307 | | | | 32 | | | | (12,105 | ) | | | (308 | ) | | | 3,550 | | | | 91 | |
| Class R-1 | | | 49,265 | | | | 1,297 | | | | 2,806 | | | | 71 | | | | (84,127 | ) | | | (2,201 | ) | | | (32,056 | ) | | | (833 | ) |
| Class R-2 | | | 232,252 | | | | 6,038 | | | | 10,097 | | | | 253 | | | | (369,238 | ) | | | (9,634 | ) | | | (126,889 | ) | | | (3,343 | ) |
| Class R-3 | | | 1,519,083 | | | | 39,050 | | | | 97,591 | | | | 2,430 | | | | (2,042,380 | ) | | | (52,694 | ) | | | (425,706 | ) | | | (11,214 | ) |
| Class R-4 | | | 2,807,400 | | | | 72,154 | | | | 216,741 | | | | 5,390 | | | | (3,426,909 | ) | | | (88,172 | ) | | | (402,768 | ) | | | (10,628 | ) |
| Class R-5 | | | 2,654,661 | | | | 66,931 | | | | 266,003 | | | | 6,512 | | | | (4,119,258 | ) | | | (104,205 | ) | | | (1,198,594 | ) | | | (30,762 | ) |
| Class R-6 | | | 7,278,252 | | | | 183,103 | | | | 420,217 | | | | 10,274 | | | | (4,112,562 | ) | | | (102,676 | ) | | | 3,585,907 | | | | 90,701 | |
| Total net increase (decrease) | | $ | 22,529,713 | | | | 571,162 | | | $ | 1,782,281 | | | | 43,747 | | | $ | (25,261,933 | ) | | | (642,721 | ) | | $ | (949,939 | ) | | | (27,812 | ) |
* Includes exchanges between share classes of the fund.
| 26 | EuroPacific Growth Fund |
9. Investment transactions
The fund made purchases and sales of investment securities, excluding short-term securities and U.S. government obligations, if any, of $14,586,392,000 and $15,152,930,000, respectively, during the six months ended September 30, 2013.
| EuroPacific Growth Fund | 27 |
Financial highlights
| | | Income (loss) from investment operations1 |
| | | | | Net asset
value,
beginning
of period | | | Net
investment
income | | | Net gains (losses)
on securities
(both realized
and unrealized) | | | Total from
investment
operations | |
| Class A: | | Six months ended 9/30/20134,5 | | $ | 42.38 | | | $ | .36 | | | $ | 3.27 | | | $ | 3.63 | |
| | | Year ended 3/31/2013 | | | 39.47 | | | | .58 | | | | 3.02 | | | | 3.60 | |
| | | Year ended 3/31/2012 | | | 42.81 | | | | .65 | | | | (3.40 | ) | | | (2.75 | ) |
| | | Year ended 3/31/2011 | | | 38.62 | | | | .54 | | | | 4.22 | | | | 4.76 | |
| | | Year ended 3/31/2010 | | | 25.78 | | | | .51 | | | | 12.95 | | | | 13.46 | |
| | | Year ended 3/31/2009 | | | 46.83 | | | | .88 | | | | (19.76 | ) | | | (18.88 | ) |
| Class B: | | Six months ended 9/30/20134,5 | | | 42.16 | | | | .20 | | | | 3.24 | | | | 3.44 | |
| | | Year ended 3/31/2013 | | | 39.20 | | | | .32 | | | | 2.96 | | | | 3.28 | |
| | | Year ended 3/31/2012 | | | 42.39 | | | | .37 | | | | (3.34 | ) | | | (2.97 | ) |
| | | Year ended 3/31/2011 | | | 38.21 | | | | .26 | | | | 4.15 | | | | 4.41 | |
| | | Year ended 3/31/2010 | | | 25.52 | | | | .26 | | | | 12.79 | | | | 13.05 | |
| | | Year ended 3/31/2009 | | | 46.14 | | | | .62 | | | | (19.44 | ) | | | (18.82 | ) |
| Class C: | | Six months ended 9/30/20134,5 | | | 41.41 | | | | .18 | | | | 3.19 | | | | 3.37 | |
| | | Year ended 3/31/2013 | | | 38.57 | | | | .28 | | | | 2.92 | | | | 3.20 | |
| | | Year ended 3/31/2012 | | | 41.76 | | | | .34 | | | | (3.28 | ) | | | (2.94 | ) |
| | | Year ended 3/31/2011 | | | 37.70 | | | | .23 | | | | 4.10 | | | | 4.33 | |
| | | Year ended 3/31/2010 | | | 25.21 | | | | .22 | | | | 12.65 | | | | 12.87 | |
| | | Year ended 3/31/2009 | | | 45.64 | | | | .58 | | | | (19.20 | ) | | | (18.62 | ) |
| Class F-1: | | Six months ended 9/30/20134,5 | | | 42.15 | | | | .35 | | | | 3.25 | | | | 3.60 | |
| | | Year ended 3/31/2013 | | | 39.27 | | | | .57 | | | | 3.01 | | | | 3.58 | |
| | | Year ended 3/31/2012 | | | 42.59 | | | | .63 | | | | (3.37 | ) | | | (2.74 | ) |
| | | Year ended 3/31/2011 | | | 38.43 | | | | .52 | | | | 4.20 | | | | 4.72 | |
| | | Year ended 3/31/2010 | | | 25.66 | | | | .49 | | | | 12.91 | | | | 13.40 | |
| | | Year ended 3/31/2009 | | | 46.62 | | | | .87 | | | | (19.68 | ) | | | (18.81 | ) |
| Class F-2: | | Six months ended 9/30/20134,5 | | | 42.33 | | | | .41 | | | | 3.28 | | | | 3.69 | |
| | | Year ended 3/31/2013 | | | 39.44 | | | | .66 | | | | 3.05 | | | | 3.71 | |
| | | Year ended 3/31/2012 | | | 42.80 | | | | .73 | | | | (3.39 | ) | | | (2.66 | ) |
| | | Year ended 3/31/2011 | | | 38.62 | | | | .61 | | | | 4.25 | | | | 4.86 | |
| | | Year ended 3/31/2010 | | | 25.78 | | | | .47 | | | | 13.10 | | | | 13.57 | |
| | | Period from 8/1/2008 to 3/31/20094 | | | 43.75 | | | | .29 | | | | (16.05 | ) | | | (15.76 | ) |
| 28 | EuroPacific Growth Fund |
| Dividends and distributions | | | | | | | | | | | | Ratio of
expenses to
average net
assets before
waivers | | | Ratio of | | | | |
Dividends
(from net
investment
income) | | | Distributions
(from capital
gains) | | | Total
dividends
and
distributions | | | Net asset
value, end
of period | | | Total
return2,3 | | | Net assets,
end of period
(in millions) | | | | | expenses to
average net
assets after
waivers3 | | | Ratio of net
income
to average
net assets3 | |
| $ | — | | | $ | — | | | $ | — | | | $ | 46.01 | | | | 8.57 | % | | $ | 31,078 | | | | .86 | %6 | | | .86 | %6 | | | 1.62 | %6 |
| | (.69 | ) | | | — | | | | (.69 | ) | | | 42.38 | | | | 9.19 | | | | 29,939 | | | | .86 | | | | .86 | | | | 1.48 | |
| | (.59 | ) | | | — | | | | (.59 | ) | | | 39.47 | | | | (6.25 | ) | | | 31,443 | | | | .84 | | | | .84 | | | | 1.65 | |
| | (.57 | ) | | | — | | | | (.57 | ) | | | 42.81 | | | | 12.39 | | | | 39,417 | | | | .82 | | | | .82 | | | | 1.39 | |
| | (.62 | ) | | | — | | | | (.62 | ) | | | 38.62 | | | | 52.23 | | | | 40,426 | | | | .85 | | | | .85 | | | | 1.45 | |
| | (.78 | ) | | | (1.39 | ) | | | (2.17 | ) | | | 25.78 | | | | (40.54 | ) | | | 28,192 | | | | .83 | | | | .80 | | | | 2.40 | |
| | — | | | | — | | | | — | | | | 45.60 | | | | 8.16 | | | | 299 | | | | 1.60 | 6 | | | 1.60 | 6 | | | .92 | 6 |
| | (.32 | ) | | | — | | | | (.32 | ) | | | 42.16 | | | | 8.39 | | | | 330 | | | | 1.59 | | | | 1.59 | | | | .81 | |
| | (.22 | ) | | | — | | | | (.22 | ) | | | 39.20 | | | | (6.95 | ) | | | 464 | | | | 1.58 | | | | 1.58 | | | | .96 | |
| | (.23 | ) | | | — | | | | (.23 | ) | | | 42.39 | | | | 11.57 | | | | 741 | | | | 1.57 | | | | 1.57 | | | | .69 | |
| | (.36 | ) | | | — | | | | (.36 | ) | | | 38.21 | | | | 51.12 | | | | 923 | | | | 1.59 | | | | 1.59 | | | | .77 | |
| | (.41 | ) | | | (1.39 | ) | | | (1.80 | ) | | | 25.52 | | | | (40.98 | ) | | | 765 | | | | 1.57 | | | | 1.54 | | | | 1.70 | |
| | — | | | | — | | | | — | | | | 44.78 | | | | 8.14 | | | | 1,948 | | | | 1.63 | 6 | | | 1.63 | 6 | | | .85 | 6 |
| | (.36 | ) | | | — | | | | (.36 | ) | | | 41.41 | | | | 8.34 | | | | 1,896 | | | | 1.63 | | | | 1.63 | | | | .73 | |
| | (.25 | ) | | | — | | | | (.25 | ) | | | 38.57 | | | | (6.97 | ) | | | 2,111 | | | | 1.62 | | | | 1.62 | | | | .89 | |
| | (.27 | ) | | | — | | | | (.27 | ) | | | 41.76 | | | | 11.51 | | | | 2,851 | | | | 1.61 | | | | 1.61 | | | | .60 | |
| | (.38 | ) | | | — | | | | (.38 | ) | | | 37.70 | | | | 51.06 | | | | 2,901 | | | | 1.63 | | | | 1.63 | | | | .66 | |
| | (.42 | ) | | | (1.39 | ) | | | (1.81 | ) | | | 25.21 | | | | (41.00 | ) | | | 1,927 | | | | 1.62 | | | | 1.58 | | | | 1.63 | |
| | — | | | | — | | | | — | | | | 45.75 | | | | 8.54 | | | | 8,878 | | | | .89 | 6 | | | .89 | 6 | | | 1.59 | 6 |
| | (.70 | ) | | | — | | | | (.70 | ) | | | 42.15 | | | | 9.19 | | | | 8,288 | | | | .85 | | | | .85 | | | | 1.45 | |
| | (.58 | ) | | | — | | | | (.58 | ) | | | 39.27 | | | | (6.25 | ) | | | 7,399 | | | | .86 | | | | .86 | | | | 1.62 | |
| | (.56 | ) | | | — | | | | (.56 | ) | | | 42.59 | | | | 12.36 | | | | 8,868 | | | | .85 | | | | .85 | | | | 1.35 | |
| | (.63 | ) | | | — | | | | (.63 | ) | | | 38.43 | | | | 52.24 | | | | 8,601 | | | | .86 | | | | .86 | | | | 1.39 | |
| | (.76 | ) | | | (1.39 | ) | | | (2.15 | ) | | | 25.66 | | | | (40.55 | ) | | | 5,097 | | | | .84 | | | | .81 | | | | 2.38 | |
| | — | | | | — | | | | — | | | | 46.02 | | | | 8.72 | | | | 8,725 | | | | .59 | 6 | | | .59 | 6 | | | 1.87 | 6 |
| | (.82 | ) | | | — | | | | (.82 | ) | | | 42.33 | | | | 9.47 | | | | 7,828 | | | | .59 | | | | .59 | | | | 1.67 | |
| | (.70 | ) | | | — | | | | (.70 | ) | | | 39.44 | | | | (6.02 | ) | | | 5,958 | | | | .58 | | | | .58 | | | | 1.86 | |
| | (.68 | ) | | | — | | | | (.68 | ) | | | 42.80 | | | | 12.65 | | | | 6,216 | | | | .59 | | | | .59 | | | | 1.54 | |
| | (.73 | ) | | | — | | | | (.73 | ) | | | 38.62 | | | | 52.65 | | | | 4,028 | | | | .60 | | | | .60 | | | | 1.31 | |
| | (.82 | ) | | | (1.39 | ) | | | (2.21 | ) | | | 25.78 | | | | (36.26 | ) | | | 806 | | | | .63 | 6 | | | .61 | 6 | | | 1.59 | 6 |
See page 33 for footnotes.
| EuroPacific Growth Fund | 29 |
Financial highlights (continued)
| | | Income (loss) from investment operations1 |
| | | | | Net asset
value,
beginning
of period | | | Net
investment
income | | | Net gains (losses)
on securities
(both realized
and unrealized) | | | Total from
investment
operations | |
| Class 529-A: | | Six months ended 9/30/20134,5 | | $ | 41.98 | | | $ | .34 | | | $ | 3.25 | | | $ | 3.59 | |
| | | Year ended 3/31/2013 | | | 39.12 | | | | .55 | | | | 2.99 | | | | 3.54 | |
| | | Year ended 3/31/2012 | | | 42.45 | | | | .61 | | | | (3.35 | ) | | | (2.74 | ) |
| | | Year ended 3/31/2011 | | | 38.31 | | | | .51 | | | | 4.20 | | | | 4.71 | |
| | | Year ended 3/31/2010 | | | 25.59 | | | | .48 | | | | 12.86 | | | | 13.34 | |
| | | Year ended 3/31/2009 | | | 46.53 | | | | .82 | | | | (19.59 | ) | | | (18.77 | ) |
| Class 529-B: | | Six months ended 9/30/20134,5 | | | 41.51 | | | | .17 | | | | 3.19 | | | | 3.36 | |
| | | Year ended 3/31/2013 | | | 38.61 | | | | .26 | | | | 2.92 | | | | 3.18 | |
| | | Year ended 3/31/2012 | | | 41.77 | | | | .32 | | | | (3.29 | ) | | | (2.97 | ) |
| | | Year ended 3/31/2011 | | | 37.68 | | | | .21 | | | | 4.09 | | | | 4.30 | |
| | | Year ended 3/31/2010 | | | 25.20 | | | | .20 | | | | 12.63 | | | | 12.83 | |
| | | Year ended 3/31/2009 | | | 45.71 | | | | .53 | | | | (19.20 | ) | | | (18.67 | ) |
| Class 529-C: | | Six months ended 9/30/20134,5 | | | 41.15 | | | | .17 | | | | 3.16 | | | | 3.33 | |
| | | Year ended 3/31/2013 | | | 38.36 | | | | .24 | | | | 2.93 | | | | 3.17 | |
| | | Year ended 3/31/2012 | | | 41.60 | | | | .29 | | | | (3.26 | ) | | | (2.97 | ) |
| | | Year ended 3/31/2011 | | | 37.58 | | | | .20 | | | | 4.09 | | | | 4.29 | |
| | | Year ended 3/31/2010 | | | 25.14 | | | | .20 | | | | 12.62 | | | | 12.82 | |
| | | Year ended 3/31/2009 | | | 45.63 | | | | .53 | | | | (19.17 | ) | | | (18.64 | ) |
| Class 529-E: | | Six months ended 9/30/20134,5 | | | 41.65 | | | | .28 | | | | 3.22 | | | | 3.50 | |
| | | Year ended 3/31/2013 | | | 38.82 | | | | .44 | | | | 2.97 | | | | 3.41 | |
| | | Year ended 3/31/2012 | | | 42.11 | | | | .50 | | | | (3.32 | ) | | | (2.82 | ) |
| | | Year ended 3/31/2011 | | | 38.02 | | | | .39 | | | | 4.16 | | | | 4.55 | |
| | | Year ended 3/31/2010 | | | 25.41 | | | | .37 | | | | 12.77 | | | | 13.14 | |
| | | Year ended 3/31/2009 | | | 46.17 | | | | .71 | | | | (19.42 | ) | | | (18.71 | ) |
| Class 529-F-1: | | Six months ended 9/30/20134,5 | | | 41.97 | | | | .38 | | | | 3.26 | | | | 3.64 | |
| | | Year ended 3/31/2013 | | | 39.11 | | | | .63 | | | | 3.00 | | | | 3.63 | |
| | | Year ended 3/31/2012 | | | 42.45 | | | | .69 | | | | (3.36 | ) | | | (2.67 | ) |
| | | Year ended 3/31/2011 | | | 38.30 | | | | .58 | | | | 4.22 | | | | 4.80 | |
| | | Year ended 3/31/2010 | | | 25.57 | | | | .55 | | | | 12.86 | | | | 13.41 | |
| | | Year ended 3/31/2009 | | | 46.54 | | | | .88 | | | | (19.60 | ) | | | (18.72 | ) |
| 30 | EuroPacific Growth Fund |
| Dividends and distributions | | | | | | | | | | | | Ratio of
expenses to
average net
assets before
waivers | | | Ratio of | | | | |
Dividends
(from net
investment
income) | | | Distributions
(from capital
gains) | | | Total
dividends
and
distributions | | | Net asset
value, end
of period | | | Total
return2,3 | | | Net assets,
end of period
(in millions) | | | | | expenses to
average net
assets after
waivers3 | | | Ratio of net
income
to average
net assets3 | |
| $ | — | | | $ | — | | | $ | — | | | $ | 45.57 | | | | 8.55 | % | | $ | 1,075 | | | | .91 | %6 | | | .91 | %6 | | | 1.56 | %6 |
| | (.68 | ) | | | — | | | | (.68 | ) | | | 41.98 | | | | 9.12 | | | | 999 | | | | .91 | | | | .91 | | | | 1.40 | |
| | (.59 | ) | | | — | | | | (.59 | ) | | | 39.12 | | | | (6.30 | ) | | | 928 | | | | .89 | | | | .89 | | | | 1.56 | |
| | (.57 | ) | | | — | | | | (.57 | ) | | | 42.45 | | | | 12.36 | | | | 982 | | | | .87 | | | | .87 | | | | 1.31 | |
| | (.62 | ) | | | — | | | | (.62 | ) | | | 38.31 | | | | 52.14 | | | | 826 | | | | .89 | | | | .89 | | | | 1.37 | |
| | (.78 | ) | | | (1.39 | ) | | | (2.17 | ) | | | 25.59 | | | | (40.54 | ) | | | 497 | | | | .87 | | | | .83 | | | | 2.30 | |
| | — | | | | — | | | | — | | | | 44.87 | | | | 8.10 | | | | 36 | | | | 1.70 | 6 | | | 1.70 | 6 | | | .81 | 6 |
| | (.28 | ) | | | — | | | | (.28 | ) | | | 41.51 | | | | 8.26 | | | | 39 | | | | 1.71 | | | | 1.71 | | | | .68 | |
| | (.19 | ) | | | — | | | | (.19 | ) | | | 38.61 | | | | (7.05 | ) | | | 52 | | | | 1.70 | | | | 1.70 | | | | .83 | |
| | (.21 | ) | | | — | | | | (.21 | ) | | | 41.77 | | | | 11.43 | | | | 79 | | | | 1.68 | | | | 1.68 | | | | .56 | |
| | (.35 | ) | | | — | | | | (.35 | ) | | | 37.68 | | | | 50.94 | | | | 91 | | | | 1.71 | | | | 1.71 | | | | .59 | |
| | (.45 | ) | | | (1.39 | ) | | | (1.84 | ) | | | 25.20 | | | | (41.03 | ) | | | 63 | | | | 1.69 | | | | 1.65 | | | | 1.49 | |
| | — | | | | — | | | | — | | | | 44.48 | | | | 8.09 | | | | 349 | | | | 1.70 | 6 | | | 1.70 | 6 | | | .78 | 6 |
| | (.38 | ) | | | — | | | | (.38 | ) | | | 41.15 | | | | 8.29 | | | | 329 | | | | 1.70 | | | | 1.70 | | | | .62 | |
| | (.27 | ) | | | — | | | | (.27 | ) | | | 38.36 | | | | (7.05 | ) | | | 321 | | | | 1.68 | | | | 1.68 | | | | .77 | |
| | (.27 | ) | | | — | | | | (.27 | ) | | | 41.60 | | | | 11.46 | | | | 356 | | | | 1.67 | | | | 1.67 | | | | .52 | |
| | (.38 | ) | | | — | | | | (.38 | ) | | | 37.58 | | | | 50.98 | | | | 313 | | | | 1.70 | | | | 1.70 | | | | .57 | |
| | (.46 | ) | | | (1.39 | ) | | | (1.85 | ) | | | 25.14 | | | | (41.05 | ) | | | 191 | | | | 1.68 | | | | 1.65 | | | | 1.49 | |
| | — | | | | — | | | | — | | | | 45.15 | | | | 8.41 | | | | 57 | | | | 1.16 | 6 | | | 1.16 | 6 | | | 1.31 | 6 |
| | (.58 | ) | | | — | | | | (.58 | ) | | | 41.65 | | | | 8.86 | | | | 53 | | | | 1.17 | | | | 1.17 | | | | 1.14 | |
| | (.47 | ) | | | — | | | | (.47 | ) | | | 38.82 | | | | (6.58 | ) | | | 50 | | | | 1.16 | | | | 1.16 | | | | 1.29 | |
| | (.46 | ) | | | — | | | | (.46 | ) | | | 42.11 | | | | 12.03 | | | | 55 | | | | 1.16 | | | | 1.16 | | | | 1.02 | |
| | (.53 | ) | | | — | | | | (.53 | ) | | | 38.02 | | | | 51.73 | | | | 46 | | | | 1.19 | | | | 1.19 | | | | 1.08 | |
| | (.66 | ) | | | (1.39 | ) | | | (2.05 | ) | | | 25.41 | | | | (40.73 | ) | | | 28 | | | | 1.17 | | | | 1.14 | | | | 2.00 | |
| | — | | | | — | | | | — | | | | 45.61 | | | | 8.65 | | | | 83 | | | | .69 | 6 | | | .69 | 6 | | | 1.77 | 6 |
| | (.77 | ) | | | — | | | | (.77 | ) | | | 41.97 | | | | 9.37 | | | | 74 | | | | .70 | | | | .70 | | | | 1.60 | |
| | (.67 | ) | | | — | | | | (.67 | ) | | | 39.11 | | | | (6.09 | ) | | | 65 | | | | .68 | | | | .68 | | | | 1.78 | |
| | (.65 | ) | | | — | | | | (.65 | ) | | | 42.45 | | | | 12.58 | | | | 71 | | | | .66 | | | | .66 | | | | 1.50 | |
| | (.68 | ) | | | — | | | | (.68 | ) | | | 38.30 | | | | 52.47 | | | | 56 | | | | .69 | | | | .69 | | | | 1.58 | |
| | (.86 | ) | | | (1.39 | ) | | | (2.25 | ) | | | 25.57 | | | | (40.44 | ) | | | 33 | | | | .67 | | | | .64 | | | | 2.48 | |
See page 33 for footnotes.
| EuroPacific Growth Fund | 31 |
Financial highlights (continued)
| | | Income (loss) from investment operations1 |
| | | | | Net asset
value,
beginning
of period | | | Net
investment
income | | | Net gains (losses)
on securities
(both realized
and unrealized) | | | Total from
investment
operations | |
| Class R-1: | | Six months ended 9/30/20134,5 | | $ | 40.90 | | | $ | .18 | | | $ | 3.16 | | | $ | 3.34 | |
| | | Year ended 3/31/2013 | | | 38.12 | | | | .27 | | | | 2.90 | | | | 3.17 | |
| | | Year ended 3/31/2012 | | | 41.34 | | | | .32 | | | | (3.24 | ) | | | (2.92 | ) |
| | | Year ended 3/31/2011 | | | 37.36 | | | | .21 | | | | 4.08 | | | | 4.29 | |
| | | Year ended 3/31/2010 | | | 25.01 | | | | .20 | | | | 12.57 | | | | 12.77 | |
| | | Year ended 3/31/2009 | | | 45.45 | | | | .54 | | | | (19.09 | ) | | | (18.55 | ) |
| Class R-2: | | Six months ended 9/30/20134,5 | | | 41.20 | | | | .19 | | | | 3.18 | | | | 3.37 | |
| | | Year ended 3/31/2013 | | | 38.39 | | | | .28 | | | | 2.92 | | | | 3.20 | |
| | | Year ended 3/31/2012 | | | 41.60 | | | | .33 | | | | (3.26 | ) | | | (2.93 | ) |
| | | Year ended 3/31/2011 | | | 37.56 | | | | .23 | | | | 4.09 | | | | 4.32 | |
| | | Year ended 3/31/2010 | | | 25.13 | | | | .20 | | | | 12.62 | | | | 12.82 | |
| | | Year ended 3/31/2009 | | | 45.62 | | | | .53 | | | | (19.17 | ) | | | (18.64 | ) |
| Class R-3: | | Six months ended 9/30/20134,5 | | | 41.56 | | | | .29 | | | | 3.21 | | | | 3.50 | |
| | | Year ended 3/31/2013 | | | 38.73 | | | | .46 | | | | 2.96 | | | | 3.42 | |
| | | Year ended 3/31/2012 | | | 42.01 | | | | .51 | | | | (3.31 | ) | | | (2.80 | ) |
| | | Year ended 3/31/2011 | | | 37.93 | | | | .41 | | | | 4.13 | | | | 4.54 | |
| | | Year ended 3/31/2010 | | | 25.35 | | | | .38 | | | | 12.75 | | | | 13.13 | |
| | | Year ended 3/31/2009 | | | 46.04 | | | | .77 | | | | (19.41 | ) | | | (18.64 | ) |
| Class R-4: | | Six months ended 9/30/20134,5 | | | 41.63 | | | | .35 | | | | 3.21 | | | | 3.56 | |
| | | Year ended 3/31/2013 | | | 38.79 | | | | .57 | | | | 2.98 | | | | 3.55 | |
| | | Year ended 3/31/2012 | | | 42.09 | | | | .62 | | | | (3.33 | ) | | | (2.71 | ) |
| | | Year ended 3/31/2011 | | | 38.00 | | | | .51 | | | | 4.16 | | | | 4.67 | |
| | | Year ended 3/31/2010 | | | 25.37 | | | | .50 | | | | 12.76 | | | | 13.26 | |
| | | Year ended 3/31/2009 | | | 46.17 | | | | .81 | | | | (19.43 | ) | | | (18.62 | ) |
| Class R-5: | | Six months ended 9/30/20134,5 | | | 42.33 | | | | .43 | | | | 3.27 | | | | 3.70 | |
| | | Year ended 3/31/2013 | | | 39.43 | | | | .70 | | | | 3.02 | | | | 3.72 | |
| | | Year ended 3/31/2012 | | | 42.78 | | | | .76 | | | | (3.40 | ) | | | (2.64 | ) |
| | | Year ended 3/31/2011 | | | 38.59 | | | | .65 | | | | 4.22 | | | | 4.87 | |
| | | Year ended 3/31/2010 | | | 25.75 | | | | .63 | | | | 12.93 | | | | 13.56 | |
| | | Year ended 3/31/2009 | | | 46.86 | | | | .93 | | | | (19.74 | ) | | | (18.81 | ) |
| Class R-6: | | Six months ended 9/30/20134,5 | | | 42.38 | | | | .42 | | | | 3.30 | | | | 3.72 | |
| | | Year ended 3/31/2013 | | | 39.48 | | | | .70 | | | | 3.04 | | | | 3.74 | |
| | | Year ended 3/31/2012 | | | 42.85 | | | | .73 | | | | (3.36 | ) | | | (2.63 | ) |
| | | Year ended 3/31/2011 | | | 38.65 | | | | .63 | | | | 4.28 | | | | 4.91 | |
| | | Period from 5/1/2009 to 3/31/20104 | | | 28.64 | | | | .42 | | | | 10.30 | | | | 10.72 | |
| | | Six months ended | | Year ended March 31 | |
| | | September 30, 20134,5 | | 2013 | | 2012 | | 2011 | | 2010 | | 2009 |
| Portfolio turnover rate for all share classes | | | 15 | % | | | 27 | % | | | 24 | % | | | 31 | % | | | 26 | % | | | 41 | % |
| 32 | EuroPacific Growth Fund |
| Dividends and distributions | | | | | | | | | | | | Ratio of
expenses to
average net
assets before
waivers | | | Ratio of | | | | |
Dividends
(from net
investment
income) | | | Distributions
(from capital
gains) | | | Total
dividends
and
distributions | | | Net asset
value, end
of period | | | Total
return3 | | | Net assets,
end of period
(in millions) | | | | | expenses to
average net
assets after
waivers3 | | | Ratio of net
income
to average
net assets3 | |
| $ | — | | | $ | — | | | $ | — | | | $ | 44.24 | | | | 8.17 | % | | $ | 277 | | | | 1.61 | %6 | | | 1.61 | %6 | | | .87 | %6 |
| | (.39 | ) | | | — | | | | (.39 | ) | | | 40.90 | | | | 8.36 | | | | 288 | | | | 1.61 | | | | 1.61 | | | | .72 | |
| | (.30 | ) | | | — | | | | (.30 | ) | | | 38.12 | | | | (6.98 | ) | | | 300 | | | | 1.61 | | | | 1.61 | | | | .85 | |
| | (.31 | ) | | | — | | | | (.31 | ) | | | 41.34 | | | | 11.52 | | | | 330 | | | | 1.62 | | | | 1.62 | | | | .57 | |
| | (.42 | ) | | | — | | | | (.42 | ) | | | 37.36 | | | | 51.08 | | | | 279 | | | | 1.64 | | | | 1.64 | | | | .59 | |
| | (.50 | ) | | | (1.39 | ) | | | (1.89 | ) | | | 25.01 | | | | (41.01 | ) | | | 143 | | | | 1.61 | | | | 1.57 | | | | 1.55 | |
| | — | | | | — | | | | — | | | | 44.57 | | | | 8.18 | | | | 1,058 | | | | 1.57 | 6 | | | 1.57 | 6 | | | .91 | 6 |
| | (.39 | ) | | | — | | | | (.39 | ) | | | 41.20 | | | | 8.41 | | | | 1,041 | | | | 1.60 | | | | 1.60 | | | | .74 | |
| | (.28 | ) | | | — | | | | (.28 | ) | | | 38.39 | | | | (7.00 | ) | | | 1,098 | | | | 1.62 | | | | 1.62 | | | | .87 | |
| | (.28 | ) | | | — | | | | (.28 | ) | | | 41.60 | | | | 11.54 | | | | 1,353 | | | | 1.61 | | | | 1.61 | | | | .60 | |
| | (.39 | ) | | | — | | | | (.39 | ) | | | 37.56 | | | | 51.02 | | | | 1,303 | | | | 1.66 | | | | 1.66 | | | | .60 | |
| | (.46 | ) | | | (1.39 | ) | | | (1.85 | ) | | | 25.13 | | | | (41.05 | ) | | | 784 | | | | 1.68 | | | | 1.64 | | | | 1.51 | |
| | — | | | | — | | | | — | | | | 45.06 | | | | 8.42 | | | | 7,064 | | | | 1.14 | 6 | | | 1.14 | 6 | | | 1.35 | 6 |
| | (.59 | ) | | | — | | | | (.59 | ) | | | 41.56 | | | | 8.87 | | | | 6,962 | | | | 1.14 | | | | 1.14 | | | | 1.18 | |
| | (.48 | ) | | | — | | | | (.48 | ) | | | 38.73 | | | | (6.52 | ) | | | 6,922 | | | | 1.14 | | | | 1.14 | | | | 1.32 | |
| | (.46 | ) | | | — | | | | (.46 | ) | | | 42.01 | | | | 12.03 | | | | 7,810 | | | | 1.13 | | | | 1.13 | | | | 1.06 | |
| | (.55 | ) | | | — | | | | (.55 | ) | | | 37.93 | | | | 51.80 | | | | 7,131 | | | | 1.15 | | | | 1.15 | | | | 1.10 | |
| | (.66 | ) | | | (1.39 | ) | | | (2.05 | ) | | | 25.35 | | | | (40.70 | ) | | | 4,139 | | | | 1.11 | | | | 1.08 | | | | 2.14 | |
| | — | | | | — | | | | — | | | | 45.19 | | | | 8.55 | | | | 13,475 | | | | .85 | 6 | | | .85 | 6 | | | 1.63 | 6 |
| | (.71 | ) | | | — | | | | (.71 | ) | | | 41.63 | | | | 9.20 | | | | 12,961 | | | | .85 | | | | .85 | | | | 1.47 | |
| | (.59 | ) | | | — | | | | (.59 | ) | | | 38.79 | | | | (6.25 | ) | | | 12,490 | | | | .85 | | | | .85 | | | | 1.61 | |
| | (.58 | ) | | | — | | | | (.58 | ) | | | 42.09 | | | | 12.35 | | | | 13,775 | | | | .85 | | | | .85 | | | | 1.32 | |
| | (.63 | ) | | | — | | | | (.63 | ) | | | 38.00 | | | | 52.21 | | | | 11,204 | | | | .86 | | | | .86 | | | | 1.43 | |
| | (.79 | ) | | | (1.39 | ) | | | (2.18 | ) | | | 25.37 | | | | (40.53 | ) | | | 7,290 | | | | .85 | | | | .82 | | | | 2.29 | |
| | — | | | | — | | | | — | | | | 46.03 | | | | 8.74 | | | | 12,697 | | | | .55 | 6 | | | .55 | 6 | | | 1.97 | 6 |
| | (.82 | ) | | | — | | | | (.82 | ) | | | 42.33 | | | | 9.54 | | | | 13,746 | | | | .55 | | | | .55 | | | | 1.78 | |
| | (.71 | ) | | | — | | | | (.71 | ) | | | 39.43 | | | | (5.99 | ) | | | 14,016 | | | | .55 | | | | .55 | | | | 1.93 | |
| | (.68 | ) | | | — | | | | (.68 | ) | | | 42.78 | | | | 12.70 | | | | 16,572 | | | | .55 | | | | .55 | | | | 1.65 | |
| | (.72 | ) | | | — | | | | (.72 | ) | | | 38.59 | | | | 52.70 | | | | 16,716 | | | | .56 | | | | .56 | | | | 1.80 | |
| | (.91 | ) | | | (1.39 | ) | | | (2.30 | ) | | | 25.75 | | | | (40.37 | ) | | | 13,529 | | | | .54 | | | | .51 | | | | 2.60 | |
| | — | | | | — | | | | — | | | | 46.10 | | | | 8.75 | | | | 27,799 | | | | .50 | 6 | | | .50 | 6 | | | 1.93 | 6 |
| | (.84 | ) | | | — | | | | (.84 | ) | | | 42.38 | | | | 9.58 | | | | 22,744 | | | | .50 | | | | .50 | | | | 1.76 | |
| | (.74 | ) | | | — | | | | (.74 | ) | | | 39.48 | | | | (5.94 | ) | | | 17,603 | | | | .50 | | | | .50 | | | | 1.88 | |
| | (.71 | ) | | | — | | | | (.71 | ) | | | 42.85 | | | | 12.78 | | | | 13,786 | | | | .50 | | | | .50 | | | | 1.61 | |
| | (.71 | ) | | | — | | | | (.71 | ) | | | 38.65 | | | | 37.43 | | | | 7,635 | | | | .52 | 6 | | | .52 | 6 | | | 1.26 | 6 |
| 1 | Based on average shares outstanding. |
| 2 | Total returns exclude any applicable sales charges, including contingent deferred sales charges. |
| 3 | This column reflects the impact, if any, of certain waivers from CRMC. During one of the periods shown, CRMC reduced fees for investment advisory services. |
| 4 | Based on operations for the period shown and, accordingly, is not representative of a full year. |
| 5 | Unaudited. |
| 6 | Annualized. |
See Notes to Financial Statements
| EuroPacific Growth Fund | 33 |
As a fund shareholder, you incur two types of costs: (1) transaction costs, such as initial sales charges on purchase payments and contingent deferred sales charges on redemptions (loads), and (2) ongoing costs, including management fees, distribution and service (12b-1) fees, and other expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the fund so you can compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the entire six-month period (April 1, 2013, through September 30, 2013).
Actual expenses:
The first line of each share class in the table on the following 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 following 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-1, F-2 and 529-F-1 shareholders may be subject to fees charged by financial intermediaries, typically ranging from 0.75% to 1.50% of assets annually depending on services offered. You can estimate the impact of these fees by adding the amount of the fees to the total estimated expenses you paid on your account during the period as calculated above. In addition, your ending account value would be lower by the amount of these fees.
Note that the expenses shown in the table on the following page 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.
| 34 | EuroPacific Growth Fund |
| | | Beginning
account value
4/1/2013 | | | Ending
account value
9/30/2013 | | | Expenses paid
during period* | | | Annualized
expense ratio | |
| Class A — actual return | | $ | 1,000.00 | | | $ | 1,085.65 | | | $ | 4.50 | | | | .86 | % |
| Class A — assumed 5% return | | | 1,000.00 | | | | 1,020.76 | | | | 4.36 | | | | .86 | |
| Class B — actual return | | | 1,000.00 | | | | 1,081.59 | | | | 8.35 | | | | 1.60 | |
| Class B — assumed 5% return | | | 1,000.00 | | | | 1,017.05 | | | | 8.09 | | | | 1.60 | |
| Class C — actual return | | | 1,000.00 | | | | 1,081.39 | | | | 8.50 | | | | 1.63 | |
| Class C — assumed 5% return | | | 1,000.00 | | | | 1,016.90 | | | | 8.24 | | | | 1.63 | |
| Class F-1 — actual return | | | 1,000.00 | | | | 1,085.42 | | | | 4.65 | | | | .89 | |
| Class F-1 — assumed 5% return | | | 1,000.00 | | | | 1,020.61 | | | | 4.51 | | | | .89 | |
| Class F-2 — actual return | | | 1,000.00 | | | | 1,087.18 | | | | 3.09 | | | | .59 | |
| Class F-2 — assumed 5% return | | | 1,000.00 | | | | 1,022.11 | | | | 2.99 | | | | .59 | |
| Class 529-A — actual return | | | 1,000.00 | | | | 1,085.52 | | | | 4.76 | | | | .91 | |
| Class 529-A — assumed 5% return | | | 1,000.00 | | | | 1,020.51 | | | | 4.61 | | | | .91 | |
| Class 529-B — actual return | | | 1,000.00 | | | | 1,080.96 | | | | 8.87 | | | | 1.70 | |
| Class 529-B — assumed 5% return | | | 1,000.00 | | | | 1,016.55 | | | | 8.59 | | | | 1.70 | |
| Class 529-C — actual return | | | 1,000.00 | | | | 1,080.91 | | | | 8.87 | | | | 1.70 | |
| Class 529-C — assumed 5% return | | | 1,000.00 | | | | 1,016.55 | | | | 8.59 | | | | 1.70 | |
| Class 529-E — actual return | | | 1,000.00 | | | | 1,084.05 | | | | 6.06 | | | | 1.16 | |
| Class 529-E — assumed 5% return | | | 1,000.00 | | | | 1,019.25 | | | | 5.87 | | | | 1.16 | |
| Class 529-F-1 — actual return | | | 1,000.00 | | | | 1,086.48 | | | | 3.61 | | | | .69 | |
| Class 529-F-1 — assumed 5% return | | | 1,000.00 | | | | 1,021.61 | | | | 3.50 | | | | .69 | |
| Class R-1 — actual return | | | 1,000.00 | | | | 1,081.67 | | | | 8.40 | | | | 1.61 | |
| Class R-1 — assumed 5% return | | | 1,000.00 | | | | 1,017.00 | | | | 8.14 | | | | 1.61 | |
| Class R-2 — actual return | | | 1,000.00 | | | | 1,081.80 | | | | 8.19 | | | | 1.57 | |
| Class R-2 — assumed 5% return | | | 1,000.00 | | | | 1,017.20 | | | | 7.94 | | | | 1.57 | |
| Class R-3 — actual return | | | 1,000.00 | | | | 1,084.23 | | | | 5.96 | | | | 1.14 | |
| Class R-3 — assumed 5% return | | | 1,000.00 | | | | 1,019.35 | | | | 5.77 | | | | 1.14 | |
| Class R-4 — actual return | | | 1,000.00 | | | | 1,085.51 | | | | 4.44 | | | | .85 | |
| Class R-4 — assumed 5% return | | | 1,000.00 | | | | 1,020.81 | | | | 4.31 | | | | .85 | |
| Class R-5 — actual return | | | 1,000.00 | | | | 1,087.41 | | | | 2.88 | | | | .55 | |
| Class R-5 — assumed 5% return | | | 1,000.00 | | | | 1,022.31 | | | | 2.79 | | | | .55 | |
| Class R-6 — actual return | | | 1,000.00 | | | | 1,087.50 | | | | 2.62 | | | | .50 | |
| Class R-6 — assumed 5% return | | | 1,000.00 | | | | 1,022.56 | | | | 2.54 | | | | .50 | |
| * | The “expenses paid during period” are equal to the “annualized expense ratio,” multiplied by the average account value over the period, multiplied by the number of days in the period, and divided by 365 (to reflect the one-half year period). |
| EuroPacific Growth Fund | 35 |
Offices of the fund and of the investment adviser
Capital Research and Management Company
333 South Hope Street
Los Angeles, CA 90071-1406
6455 Irvine Center Drive
Irvine, CA 92618
Transfer agent for shareholder accounts
American Funds Service Company
(Write to the address near you.)
P.O. Box 6007
Indianapolis, IN 46206-6007
P.O. Box 2280
Norfolk, VA 23501-2280
Custodian of assets
JPMorgan Chase Bank
270 Park Avenue
New York, NY 10017-2070
Counsel
K&L Gates LLP
Four Embarcadero Center, Suite 1200
San Francisco, CA 94111-5994
Independent registered public accounting firm
Deloitte & Touche LLP
695 Town Center Drive
Suite 1200
Costa Mesa, CA 92626-7188
Principal underwriter
American Funds Distributors, Inc.
333 South Hope Street
Los Angeles, CA 90071-1406
| 36 | EuroPacific Growth Fund |
Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectus and summary prospectus,which can be obtained from your financial professional and should be read carefully before investing. You may also call American Funds Service Company (AFS) at (800) 421-4225 or visit the American Funds website at americanfunds.com.
“American Funds Proxy Voting Procedures and Principles” — which describes how we vote proxies relating to portfolio securities — is available on the American Funds website or upon request by calling AFS. The fund files its proxy voting record with the U.S. Securities and Exchange Commission (SEC) for the 12 months ended June 30 by August 31. The proxy voting record is available free of charge on the SEC website at sec.gov and on the American Funds website.
A complete September 30, 2013, portfolio of EuroPacific Growth Fund’s investments is available free of charge by calling AFS or visiting the SEC website (where it is part of Form N-CSR).
EuroPacific Growth Fund files a complete list of its portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. This filing is available free of charge on the SEC website. You may also review or, for a fee, copy this filing at the SEC’s Public Reference Room in Washington, D.C. Additional information regarding the operation of the Public Reference Room may be obtained by calling the SEC’s Office of Investor Education and Advocacy at (800) SEC-0330. Additionally, the list of portfolio holdings is available by calling AFS.
This report is for the information of shareholders of EuroPacific Growth Fund, but it also may be used as sales literature when preceded or accompanied by the current prospectus or summary prospectus, which gives details about charges, expenses, investment objectives and operating policies of the fund. If used as sales material after December 31, 2013, this report must be accompanied by an American Funds statistical update for the most recently completed calendar quarter.
The American Funds Advantage
Since 1931, American Funds, part of Capital Group, has helped investors pursue long-term investment success. Our consistent approach — in combination with The Capital SystemSM — has resulted in a superior long-term track record.
| | Aligned with investor success |
| | We base our decisions on a long-term perspective, which we believe aligns our goals with the interests of our clients. Our portfolio managers average 25 years of investment experience, including 20 years at our company, reflecting a career commitment to our approach.1 |
| | |
| | The Capital SystemSM |
| | Our investment process, The Capital System, combines individual accountability with teamwork. Each fund is divided into portions that are managed independently by investment professionals with diverse backgrounds, ages and investment approaches. An extensive global research effort is the backbone of our system. |
| | |
| | Superior long-term track record |
| | Our equity funds have beaten their Lipper peer indexes in 90% of 10-year periods and 96% of 20-year periods. Our fixed-income funds have beaten their Lipper indexes in 58% of 10-year periods and 63% of 20-year periods.2 Our fund management fees have been among the lowest in the industry.3 |
| | 1 | Portfolio manager experience as of December 31, 2012. |
| | 2 | Based on Class A share results for periods through December 31, 2012. Periods covered are the shorter of the fund’s lifetime or since the comparable Lipper index inception date. |
| | 3 | Based on management fees for the 20-year period ended December 31, 2012, versus comparable Lipper categories, excluding funds of funds. |
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
 | EuroPacific Growth Fund® Investment portfolio September 30, 2013 |
unaudited
| Common stocks 94.18% | | |
| | | Value |
| Financials 18.29% | Shares | (000) |
| | | |
| Prudential PLC | 92,393,984 | $1,721,627 |
| Barclays PLC | 383,782,206 | 1,649,565 |
| AXA SA | 44,498,268 | 1,030,916 |
| Société Générale | 16,391,896 | 816,734 |
| AIA Group Ltd. | 166,035,600 | 780,309 |
| Bank of Ireland1,2 | 2,410,600,276 | 684,848 |
| Mizuho Financial Group, Inc. | 313,805,000 | 679,999 |
| UniCredit SpA | 104,221,238 | 664,371 |
| Sberbank of Russia (ADR) | 41,180,875 | 495,954 |
| Sberbank of Russia (GDR) 3 | 11,167,686 | 134,571 |
| Credit Suisse Group AG | 20,591,691 | 628,896 |
| Commerzbank AG, non-registered shares1 | 52,968,488 | 609,813 |
| Housing Development Finance Corp. Ltd. | 49,262,570 | 601,372 |
| HDFC Bank Ltd. | 57,777,675 | 547,321 |
| Agricultural Bank of China, Class H | 1,177,816,000 | 542,143 |
| ING Groep NV, depository receipts1 | 45,930,000 | 518,901 |
| Fairfax Financial Holdings Ltd.2 | 826,291 | 336,753 |
| Fairfax Financial Holdings Ltd. (CAD denominated)2 | 325,000 | 131,432 |
| HSBC Holdings PLC | 41,960,000 | 456,340 |
| ORIX Corp. | 26,546,000 | 430,753 |
| Brookfield Asset Management Inc., Class A | 11,352,000 | 424,565 |
| Hana Financial Group Inc. | 11,668,630 | 400,111 |
| BNP Paribas SA | 5,901,298 | 399,179 |
| Kotak Mahindra Bank Ltd. | 31,467,137 | 340,833 |
| Axis Bank Ltd. | 20,626,864 | 332,063 |
| Henderson Land Development Co. Ltd. | 53,059,197 | 327,691 |
| Investment AB Kinnevik, Class B | 9,415,539 | 325,977 |
| Sampo Oyj, Class A | 7,554,377 | 324,585 |
| ICICI Bank Ltd. | 21,275,406 | 300,296 |
| Sun Hung Kai Properties Ltd. | 21,999,636 | 299,251 |
| Banco Santander, SA1 | 35,457,287 | 289,153 |
| Sumitomo Mitsui Financial Group, Inc. | 5,685,000 | 274,432 |
| Deutsche Bank AG | 5,732,146 | 263,196 |
| Grupo Financiero Santander México, SAB de CV, Class B (ADR) | 17,125,000 | 236,667 |
| Link Real Estate Investment Trust | 45,863,471 | 225,004 |
| Toronto-Dominion Bank | 2,490,000 | 224,186 |
| Lloyds Banking Group PLC1 | 175,859,895 | 209,482 |
| UBS AG | 10,049,020 | 205,570 |
| China Pacific Insurance (Group) Co., Ltd., Class H | 53,926,000 | 193,291 |
| China Overseas Land & Investment Ltd. | 62,650,000 | 184,576 |
| DNB ASA | 11,417,796 | 173,358 |
| Siam Commercial Bank PCL | 35,589,800 | 168,392 |
| Banco Bradesco SA, preferred nominative | 11,570,515 | 158,603 |
| Royal Bank of Scotland Group PLC1 | 26,993,060 | 157,273 |
| Resona Holdings, Inc. | 27,900,000 | 142,487 |
| | | |
| Common stocks | | |
| | | Value |
| Financials (continued) | Shares | (000) |
| | | |
| PartnerRe Ltd. | 1,395,000 | $ 127,698 |
| BDO Unibank, Inc. | 67,500,000 | 116,272 |
| Svenska Handelsbanken AB, Class A | 2,490,000 | 106,509 |
| Daito Trust Construction Co., Ltd. | 897,700 | 89,592 |
| Itaú Unibanco Holding SA, preferred nominative (ADR) | 6,261,858 | 88,417 |
| Bancolombia SA (ADR) | 1,530,000 | 88,036 |
| Türkiye Garanti Bankasi AS | 22,163,923 | 87,337 |
| Bank of Nova Scotia | 1,500,000 | 85,918 |
| Industrial and Commercial Bank of China Ltd., Class H | 87,810,255 | 61,251 |
| Banco Santander (Brasil) SA, units | 7,946,600 | 53,568 |
| Banco Santander (Brasil) SA, units (ADR) | 1,003,400 | 6,974 |
| Investor AB, Class B | 1,557,614 | 47,261 |
| Samsung Card Co., Ltd. | 303,450 | 11,295 |
| Ayala Land, Inc.4 | 481,283,600 | 1,105 |
| Hongkong Land Holdings Ltd. | 100,000 | 660 |
| | | 21,014,732 |
| | | |
| Consumer discretionary 13.14% | | |
| | | |
| Honda Motor Co., Ltd. | 28,934,250 | 1,099,440 |
| Rakuten, Inc. | 63,569,000 | 960,374 |
| Volkswagen AG, nonvoting preferred | 3,913,575 | 922,563 |
| Renault SA | 8,725,987 | 695,666 |
| Hyundai Motor Co. | 2,864,390 | 669,004 |
| adidas AG | 5,459,000 | 592,146 |
| Sands China Ltd. | 93,499,200 | 578,049 |
| Industria de Diseño Textil, SA | 3,623,534 | 558,349 |
| Naspers Ltd., Class N | 5,891,000 | 544,751 |
| Li & Fung Ltd. | 348,954,000 | 507,511 |
| Bayerische Motoren Werke AG | 4,015,500 | 431,710 |
| Toyota Motor Corp. | 6,755,000 | 430,885 |
| Nissan Motor Co., Ltd. | 41,273,500 | 413,176 |
| Ctrip.com International, Ltd. (ADR)1,2 | 7,044,000 | 411,581 |
| Publicis Groupe SA | 5,083,653 | 404,530 |
| Cie. Générale des Établissements Michelin | 3,506,615 | 388,860 |
| Tata Motors Ltd. | 71,282,662 | 378,588 |
| Kia Motors Corp. | 5,701,717 | 346,451 |
| Carnival PLC | 9,745,000 | 330,353 |
| Nokian Renkaat Oyj | 6,329,000 | 321,425 |
| Galaxy Entertainment Group Ltd.1 | 44,110,000 | 309,388 |
| Hyundai Mobis Co., Ltd. | 1,161,098 | 309,000 |
| Swatch Group Ltd, non-registered shares | 400,000 | 257,422 |
| Daimler AG | 3,213,400 | 250,488 |
| Burberry Group PLC | 8,922,000 | 236,012 |
| Melco Crown Entertainment Ltd. (ADR)1 | 7,314,000 | 232,805 |
| TOD’S SpA | 1,091,800 | 204,718 |
| LVMH Moët Hennessey-Louis Vuitton SA | 980,000 | 193,036 |
| Nikon Corp. | 10,436,100 | 181,871 |
| Paddy Power PLC | 2,145,000 | 171,935 |
| Shangri-La Asia Ltd. | 97,588,000 | 161,558 |
| PT Astra International Tbk | 284,194,000 | 158,295 |
| Hero MotoCorp Ltd. | 4,638,863 | 148,880 |
| H & M Hennes & Mauritz AB, Class B | 3,395,450 | 147,458 |
| Mahindra & Mahindra Ltd. | 10,840,000 | 143,272 |
| Belle International Holdings Ltd. | 81,200,000 | 117,886 |
| Common stocks | | |
| | | Value |
| Consumer discretionary (continued) | Shares | (000) |
| | | |
| Techtronic Industries Co. Ltd. | 43,815,000 | $ 114,115 |
| JCDecaux SA | 3,087,000 | 113,657 |
| Intercontinental Hotels Group PLC | 3,780,333 | 110,282 |
| SEGA SAMMY HOLDINGS INC. | 3,820,000 | 109,942 |
| British Sky Broadcasting Group PLC | 7,550,000 | 106,337 |
| Suzuki Motor Corp. | 3,946,333 | 94,428 |
| Kingfisher PLC | 13,937,050 | 87,069 |
| Yamada Denki Co., Ltd. | 19,621,500 | 57,889 |
| Reed Elsevier PLC | 3,676,809 | 49,583 |
| Whitbread PLC | 651,102 | 31,243 |
| Fast Retailing Co., Ltd. | 16,400 | 6,148 |
| MGM China Holdings Ltd. | 1,148,800 | 3,814 |
| | | 15,093,943 |
| | | |
| Information technology 12.11% | | |
| | | |
| Samsung Electronics Co. Ltd. | 1,841,950 | 2,342,983 |
| Samsung Electronics Co. Ltd., nonvoting preferred | 48,800 | 39,778 |
| Tencent Holdings Ltd. | 32,958,000 | 1,728,660 |
| Taiwan Semiconductor Manufacturing Co. Ltd. | 347,332,136 | 1,180,603 |
| Taiwan Semiconductor Manufacturing Co. Ltd. (ADR) | 5,822,723 | 98,753 |
| Baidu, Inc., Class A (ADR)1 | 8,205,900 | 1,273,392 |
| Murata Manufacturing Co., Ltd.2 | 14,705,400 | 1,120,540 |
| Nintendo Co., Ltd.2 | 8,741,600 | 989,817 |
| ASML Holding NV | 8,374,611 | 827,060 |
| Infineon Technologies AG2 | 56,470,947 | 564,954 |
| Gemalto NV2 | 5,250,065 | 563,729 |
| ARM Holdings PLC | 30,025,000 | 479,270 |
| NetEase, Inc. (ADR) | 5,592,424 | 406,066 |
| Alcatel-Lucent1 | 96,501,000 | 345,700 |
| SAP AG | 4,568,500 | 337,888 |
| Quanta Computer Inc. | 116,646,530 | 252,885 |
| Samsung SDI Co., Ltd. | 1,418,520 | 247,491 |
| Hexagon AB, Class B | 7,255,111 | 218,781 |
| Hirose Electric Co., Ltd. | 1,242,300 | 190,336 |
| STMicroelectronics NV | 13,780,000 | 127,084 |
| Mail.Ru Group Ltd. (GDR) | 2,295,000 | 87,669 |
| Mail.Ru Group Ltd. (GDR)3 | 735,000 | 28,077 |
| Delta Electronics, Inc. | 23,843,603 | 115,722 |
| TDK Corp. | 2,047,500 | 80,196 |
| HOYA Corp. | 3,380,000 | 79,742 |
| DeNA Co., Ltd. | 3,250,000 | 66,061 |
| Keyence Corp. | 159,500 | 60,444 |
| Nokia Corp.1 | 5,700,000 | 37,461 |
| HTC Corp. | 5,250,000 | 23,438 |
| | | 13,914,580 |
| | | |
| Health care 11.82% | | |
| | | |
| Novo Nordisk A/S, Class B | 25,458,316 | 4,322,248 |
| Bayer AG | 21,448,384 | 2,529,073 |
| Novartis AG | 31,057,725 | 2,386,810 |
| Teva Pharmaceutical Industries Ltd. (ADR) | 25,949,300 | 980,365 |
| Roche Holding AG | 3,030,000 | 817,180 |
| CSL Ltd. | 7,745,000 | 462,420 |
| Fresenius SE & Co. KGaA | 3,241,909 | 402,706 |
| Common stocks | | |
| | | Value |
| Health care (continued) | Shares | (000) |
| | | |
| UCB SA | 6,588,724 | $ 401,021 |
| Sysmex Corp.2 | 5,477,500 | 348,839 |
| Grifols, SA, Class A, non-registered shares | 6,050,000 | 248,407 |
| Grifols, SA, Class B, non-registered shares | 937,750 | 28,766 |
| Fresenius Medical Care AG & Co. KGaA | 3,322,000 | 216,125 |
| William Demant Holding A/S1 | 2,333,900 | 215,690 |
| Merck KGaA | 1,098,724 | 171,457 |
| Sonova Holding AG | 377,715 | 46,946 |
| | | 13,578,053 |
| | | |
| Industrials 10.52% | | |
| | | |
| European Aeronautic Defence and Space Co. EADS NV | 15,521,890 | 988,938 |
| Rolls-Royce Holdings PLC1 | 40,859,035 | 735,551 |
| Ryanair Holdings PLC (ADR) | 14,541,120 | 723,275 |
| ASSA ABLOY AB, Class B | 12,223,000 | 561,063 |
| Siemens AG | 4,119,000 | 496,277 |
| KONE Oyj, Class B | 5,494,000 | 490,177 |
| Experian PLC | 24,248,000 | 462,032 |
| Mitsubishi Heavy Industries, Ltd. | 72,626,000 | 415,977 |
| Toshiba Corp. | 92,660,000 | 414,776 |
| Schneider Electric SA | 4,818,842 | 407,513 |
| Deutsche Lufthansa AG1 | 19,807,815 | 386,279 |
| Jardine Matheson Holdings Ltd. | 7,025,200 | 385,684 |
| SMC Corp. | 1,601,400 | 380,250 |
| Legrand SA | 6,451,090 | 357,953 |
| Wolseley PLC | 6,204,306 | 321,112 |
| Hutchison Whampoa Ltd. | 23,802,000 | 285,100 |
| Geberit AG | 1,055,000 | 284,880 |
| AB Volvo, Class B | 18,000,000 | 269,579 |
| Bureau Veritas SA | 8,354,000 | 263,330 |
| Mitsui & Co., Ltd. | 17,479,600 | 253,583 |
| VINCI SA | 4,319,645 | 251,109 |
| ABB Ltd | 9,900,000 | 234,158 |
| International Consolidated Airlines Group, SA (CDI)1 | 42,400,400 | 232,216 |
| Komatsu Ltd. | 9,200,000 | 228,280 |
| Meggitt PLC | 24,848,732 | 220,850 |
| Marubeni Corp. | 25,800,000 | 202,631 |
| Babcock International Group PLC | 9,409,000 | 182,177 |
| Kubota Corp. | 12,255,000 | 176,666 |
| China State Construction International Holdings Ltd. | 108,792,000 | 175,057 |
| Atlas Copco AB, Class A | 5,175,000 | 151,545 |
| A.P. Moller-Maersk A/S, Class B | 16,274 | 149,217 |
| Canadian Pacific Railway Ltd. | 1,154,000 | 142,383 |
| FANUC CORP. | 835,000 | 137,701 |
| Nabtesco Corp. | 4,500,000 | 109,507 |
| SGS SA | 38,834 | 92,710 |
| Qantas Airways Ltd.1 | 67,220,000 | 92,497 |
| Vallourec SA | 1,490,000 | 89,237 |
| Air France-KLM1 | 8,160,720 | 81,245 |
| China Merchants Holdings (International) Co., Ltd. | 15,577,522 | 56,639 |
| ITOCHU Corp. | 4,400,000 | 53,805 |
| Alstom SA | 1,400,000 | 49,869 |
| Kühne + Nagel International AG | 330,000 | 43,241 |
| Andritz AG | 555,000 | 32,627 |
| Aggreko PLC | 968,750 | 25,156 |
| | | 12,093,852 |
| | | |
| Consumer staples 8.93% | | |
| | | |
| Nestlé SA | 21,793,799 | 1,524,252 |
| British American Tobacco PLC | 23,224,999 | 1,231,930 |
| Pernod Ricard SA | 8,851,702 | 1,099,187 |
| Anheuser-Busch InBev NV | 10,301,317 | 1,025,421 |
| Associated British Foods PLC | 20,611,900 | 625,995 |
| Alimentation Couche-Tard Inc., Class B | 8,255,600 | 514,708 |
| Japan Tobacco Inc. | 14,291,000 | 513,223 |
| Shoprite Holdings Ltd. | 21,429,000 | 353,015 |
| Koninklijke Ahold NV | 20,000,000 | 346,465 |
| L’Oréal SA, non-registered shares | 2,000,000 | 343,489 |
| OJSC Magnit (GDR) | 5,520,000 | 340,860 |
| SABMiller PLC | 6,454,704 | 328,481 |
| ITC Ltd. | 50,184,737 | 272,868 |
| Charoen Pokphand Foods PCL | 351,211,000 | 269,471 |
| Danone SA | 2,872,259 | 216,202 |
| Unilever NV, depository receipts | 5,211,830 | 202,746 |
| China Resources Enterprise, Ltd. | 58,527,000 | 186,012 |
| Hengan International Group Co. Ltd. | 15,175,000 | 177,461 |
| Wal-Mart de México, SAB de CV, Series V | 65,671,436 | 172,689 |
| Asahi Group Holdings, Ltd. | 6,355,000 | 166,738 |
| Woolworths Ltd. | 3,350,626 | 109,403 |
| Imperial Tobacco Group PLC | 2,200,000 | 81,453 |
| Coca-Cola Amatil Ltd. | 6,152,000 | 70,363 |
| PT Indofood Sukses Makmur Tbk | 87,140,000 | 53,051 |
| Treasury Wine Estates Ltd. | 7,363,000 | 30,361 |
| | | 10,255,844 |
| | | |
| Telecommunication services 5.58% | | |
| | | |
| SoftBank Corp. | 50,813,600 | 3,510,090 |
| Vodafone Group PLC | 264,744,919 | 925,766 |
| MTN Group Ltd. | 32,070,700 | 626,066 |
| Shin Corp. PCL, nonvoting depository receipt | 97,401,000 | 256,892 |
| TeliaSonera AB | 22,175,000 | 169,900 |
| Iliad SA | 657,500 | 153,439 |
| OJSC Mobile TeleSystems (ADR) | 5,872,000 | 130,711 |
| Swisscom AG | 241,000 | 115,816 |
| OJSC MegaFon (GDR)3 | 3,070,600 | 108,239 |
| Axiata Group Bhd. | 46,300,000 | 97,728 |
| Millicom International Cellular SA (SDR) | 920,561 | 81,289 |
| América Móvil, SAB de CV, Series L (ADR) | 3,645,600 | 72,219 |
| Advanced Info Service PCL | 6,838,000 | 55,745 |
| PT XL Axiata Tbk | 106,716,640 | 39,166 |
| China Telecom Corp. Ltd., Class H | 70,178,000 | 34,927 |
| China Unicom (Hong Kong) Ltd. | 20,700,000 | 32,294 |
| | | 6,410,287 |
| | | |
| Materials 4.88% | | |
| | | |
| Syngenta AG | 1,717,315 | 701,472 |
| Linde AG | 2,404,239 | 476,177 |
| BASF SE | 4,436,500 | 425,536 |
| Common stocks | | |
| | | Value |
| Materials (continued) | Shares | (000) |
| | | |
| First Quantum Minerals Ltd. | 22,401,800 | $ 417,132 |
| Glencore Xstrata PLC | 72,657,401 | 396,044 |
| Rio Tinto PLC | 7,078,000 | 346,393 |
| Chr. Hansen Holding A/S2 | 8,191,000 | 290,015 |
| Impala Platinum Holdings Ltd. | 23,202,191 | 286,253 |
| Amcor Ltd. | 28,815,000 | 281,181 |
| Holcim Ltd | 3,758,180 | 279,676 |
| ArcelorMittal | 16,554,000 | 227,534 |
| POSCO | 734,000 | 218,218 |
| Givaudan SA | 124,832 | 182,344 |
| L’Air Liquide SA, bonus shares4 | 1,160,572 | 161,640 |
| Nitto Denko Corp. | 2,359,300 | 153,374 |
| PT Semen Indonesia (Persero) Tbk | 129,938,000 | 145,872 |
| Grasim Industries Ltd. (GDR)4 | 1,588,053 | 67,120 |
| Grasim Industries Ltd. | 1,415,859 | 59,842 |
| LG Chem, Ltd. | 410,800 | 117,543 |
| Koninklijke DSM NV | 1,515,979 | 114,399 |
| BHP Billiton PLC | 3,000,000 | 88,392 |
| Akzo Nobel NV | 1,290,000 | 84,772 |
| UltraTech Cement Ltd. | 2,900,000 | 83,811 |
| | | 5,604,740 |
| | | |
| Energy 2.87% | | |
| | | |
| BP PLC | 84,310,164 | 591,137 |
| Canadian Natural Resources, Ltd. | 12,157,600 | 382,061 |
| Royal Dutch Shell PLC, Class B | 3,070,000 | 106,085 |
| Royal Dutch Shell PLC, Class A | 3,195,000 | 105,379 |
| Royal Dutch Shell PLC, Class B (ADR) | 1,292,999 | 89,023 |
| Royal Dutch Shell PLC, Class A (ADR) | 1,000,000 | 65,680 |
| BG Group PLC | 15,000,000 | 286,667 |
| Technip SA | 1,970,000 | 231,305 |
| Petróleo Brasileiro SA – Petrobras, preferred nominative (ADR) | 9,412,000 | 157,463 |
| Petróleo Brasileiro SA – Petrobras, ordinary nominative (ADR) | 2,833,200 | 43,886 |
| INPEX CORP. | 15,540,000 | 183,075 |
| KunLun Energy Co. Ltd. | 113,000,000 | 157,934 |
| Transocean Ltd. | 3,460,761 | 154,004 |
| Crescent Point Energy Corp. | 3,430,000 | 129,867 |
| Oil Search Ltd. | 14,500,000 | 116,333 |
| Repsol, SA, non-registered shares | 4,161,222 | 103,161 |
| CNOOC Ltd. | 39,400,100 | 80,163 |
| Cenovus Energy Inc. | 2,557,600 | 76,327 |
| OJSC Gazprom (ADR) | 8,077,000 | 71,158 |
| Eni SpA | 2,568,000 | 58,886 |
| Cairn India Ltd. | 11,184,324 | 56,962 |
| Essar Energy PLC1 | 24,995,900 | 52,565 |
| | | 3,299,121 |
| | | |
| Utilities 1.21% | | |
| | | |
| Power Assets Holdings Ltd. | 40,910,000 | 366,064 |
| Power Grid Corp. of India Ltd. | 182,447,213 | 285,743 |
| National Grid PLC | 18,749,517 | 221,733 |
| Hong Kong and China Gas Co. Ltd. | 68,589,057 | 165,019 |
| Cheung Kong Infrastructure Holdings Ltd. | 21,780,000 | 150,940 |
| GDF SUEZ | 5,370,102 | 134,910 |
| E.ON SE | 3,000,000 | 53,370 |
| SUEZ Environnement Co. | 521,250 | 8,455 |
| | | 1,386,234 |
| | | |
| Miscellaneous 4.83% | | |
| | | |
| Other common stocks in initial period of acquisition | | 5,555,971 |
| Total common stocks (cost: $70,708,172,000) | | 108,207,357 |
| Rights 0.10% | | |
| | | |
| Miscellaneous 0.10% | | |
| | | |
| Other rights in initial period of acquisition | | 118,465 |
| Total rights (cost: $0) | | 118,465 |
| Bonds, notes & other debt instruments 0.72% | | |
| | Principal amount | |
| U.S. Treasury bonds & notes 0.72% | (000) | |
| | | |
| | | |
| U.S. Treasury 0.25% 2014 | $ 250,000 | 250,243 |
| U.S. Treasury 1.25% 20145 | 216,500 | 217,474 |
| U.S. Treasury 0.25% 2015 | 221,850 | 221,828 |
| U.S. Treasury 0.25% 2015 | 135,000 | 135,005 |
| Total bonds, notes & other debt instruments (cost: $824,065,000) | | 824,550 |
| | | |
| Short-term securities 5.11% | | |
| | | |
| Freddie Mac 0.08%–0.16% due 10/22/2013–6/20/2014 | 2,249,150 | 2,248,553 |
| Fannie Mae 0.11%–0.15% due 10/1/2013–8/1/2014 | 1,143,700 | 1,143,438 |
| Federal Home Loan Bank 0.06%–0.15% due 10/23/2013–7/25/2014 | 481,750 | 481,584 |
| Sumitomo Mitsui Banking Corp. 0.165%–0.21% due 10/24–12/4/20133 | 232,400 | 232,343 |
| Gotham Funding Corp. 0.16%–0.17% due 10/8–10/10/20133 | 116,485 | 116,480 |
| Mitsubishi UFJ Trust and Banking Corp. 0.17% due 10/3–10/28/20133 | 109,500 | 109,490 |
| Mizuho Funding LLC 0.205%–0.215% due 10/16–12/2/20133 | 221,900 | 221,846 |
| Nordea Bank AB 0.175%–0.185% due 10/4–11/1/20133 | 177,100 | 177,086 |
| Svenska Handelsbanken Inc. 0.18%–0.21% due 11/7–12/9/20133 | 166,500 | 166,459 |
| U.S. Treasury Bill 0.136% due 8/21/2014 | 119,200 | 119,121 |
| National Australia Funding (Delaware) Inc. 0.145%–0.185% due 10/7–11/18/20133 | 115,900 | 115,888 |
| BHP Billiton Finance (USA) Limited 0.11% due 11/19–12/3/20133 | 104,000 | 103,975 |
| Bank of Nova Scotia 0.145%–0.155% due 11/15–11/18/2013 | 91,700 | 91,685 |
| Old Line Funding, LLC 0.20% due 10/8/20133 | 40,000 | 39,999 |
| Thunder Bay Funding, LLC 0.17%–0.20% due 10/15–11/20/20133 | 45,000 | 44,992 |
| Private Export Funding Corp. 0.24% due 4/23–4/25/20143 | 81,000 | 80,890 |
| Toronto-Dominion Holdings USA Inc. 0.21%–0.23% due 11/8/2013–2/24/20143 | 80,000 | 79,968 |
| Federal Farm Credit Banks 0.13%–0.17% due 11/12–12/3/2013 | 70,000 | 69,997 |
| International Bank for Reconstruction and Development 0.09%–0.12% due 10/4/2013–2/19/2014 | 55,650 | 55,643 |
| Québec (Province of) 0.165% due 10/15/20133 | 50,000 | 49,996 |
| Electricité de France 0.18%–0.19% due 12/2–12/4/20133 | 48,700 | 48,683 |
| Toyota Credit Canada Inc. 0.12% due 11/15/2013 | 35,500 | 35,497 |
| Coca-Cola Co. 0.18% due 1/7/20143 | 35,500 | 35,492 |
| Total short-term securities (cost: $5,868,014,000) | | 5,869,105 |
| Total investment securities (cost: $77,400,251,000) | | $115,019,477 |
| Other assets less liabilities | | (121,292) |
| Net assets | | $114,898,185 |
As permitted by U.S. Securities and Exchange Commission regulations, “Miscellaneous” securities include holdings in their first year of acquisition that have not previously been publicly disclosed.
1Security did not produce income during the last 12 months.
2Represents an affiliated company as defined under the Investment Company Act of 1940.
3Acquired in a transaction exempt from registration under Rule 144A or section 4(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $1,894,474,000, which represented 1.65% of the net assets of the fund.
4Valued under fair value procedures adopted by authority of the board of trustees. The total value of all such securities was $229,865,000, which represented ..20% of the net assets of the fund.
5A portion of this security was pledged as collateral for net losses on unsettled forward currency contracts. The total value of pledged collateral was $8,346,000, which represented less than .01% of the net assets of the fund.
Key to abbreviations
ADR = American Depositary Receipts
CDI = CREST Depository Interest
GDR = Global Depositary Receipts
SDR = Swedish Depositary Receipts
CAD = Canadian dollars
Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.
Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectus and summary prospectus, which can be obtained from your financial professional and should be read carefully before investing. You may also call American Funds Service Company (AFS) at (800) 421-4225 or visit the American Funds website at americanfunds.com.
MFGEFPX-016-1113O-S37714
ITEM 7 – Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not applicable to this Registrant, insofar as the Registrant is not a closed-end management investment company.
ITEM 8 – Portfolio Managers of Closed-End Management Investment Companies
Not applicable to this Registrant, insofar as the Registrant is not a closed-end management investment company.
ITEM 9 – Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
Not applicable to this Registrant, insofar as the Registrant is not a closed-end management investment company.
ITEM 10 – Submission of Matters to a Vote of Security Holders
There have been no material changes to the procedures by which shareholders may recommend nominees to the Registrant’s board of trustees since the Registrant last submitted a proxy statement to its shareholders. The procedures are as follows. The Registrant has a nominating and governance committee comprised solely of persons who are not considered ‘‘interested persons’’ of the Registrant within the meaning of the Investment Company Act of 1940, as amended. The committee periodically reviews such issues as the board’s composition, responsibilities, committees, compensation and other relevant issues, and recommends any appropriate changes to the full board of trustees. While the committee normally is able to identify from its own resources an ample number of qualified candidates, it will consider shareholder suggestions of persons to be considered as nominees to fill future vacancies on the board. Such suggestions must be sent in writing to the nominating and governance committee of the Registrant, c/o the Registrant’s Secretary, and must be accompanied by complete biographical and occupational data on the prospective nominee, along with a written consent of the prospective nominee for consideration of his or her name by the nominating and governance committee.
ITEM 11 – Controls and Procedures
| (a) | The Registrant’s Principal Executive Officer and Principal Financial Officer have concluded, based on their evaluation of the Registrant’s disclosure controls and procedures (as such term is defined in Rule 30a-3 under the Investment Company Act of 1940), that such controls and procedures are adequate and reasonably designed to achieve the purposes described in paragraph (c) of such rule. |
| | |
| (b) | There were no changes in the Registrant’s internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the Registrant’s second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting. |
ITEM 12 – Exhibits
| (a)(1) | Not applicable for filing of semi-annual reports to shareholders. |
| | |
| (a)(2) | The certifications required by Rule 30a-2 of the Investment Company Act of 1940 and Sections 302 and 906 of the Sarbanes-Oxley Act of 2002 are attached as exhibits hereto. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| | EUROPACIFIC GROWTH FUND |
| | |
| | By /s/ Michael J. Thawley |
| | Michael J. Thawley, Vice Chairman and Principal Executive Officer |
| | |
| | Date: November 29, 2013 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
| By /s/ Michael J. Thawley |
Michael J. Thawley, Vice Chairman and Principal Executive Officer |
| |
| Date: November 29, 2013 |
| By /s/ Brian C. Janssen |
Brian C. Janssen, Treasurer and Principal Financial Officer |
| |
| Date: November 29, 2013 |
