Capital World Bond Fund N-CSRS Certified semi-annual shareholder report (management investment company)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

Certified Shareholder Report of

Registered Management Investment Companies

Investment Company Act File Number: 811-05104

Capital World Bond 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: September 30

Date of reporting period: March 31, 2011

Courtney R. Taylor

Capital Research and Management Company

333 South Hope Street

Los Angeles, California 90071

(Name and Address of Agent for Service)

Copies to:

Michael Glazer

Bingham McCutchen LLP

355 South Grand Avenue, Suite 4400

Los Angeles, California 90071

(Counsel for the Registrant)

ITEM 1 – Reports to Stockholders

   

Capital World Bond Fund®

[photo of a Moorish style entryway and wall]


Semi-annual report for the six months ended March 31, 2011

Capital World Bond Fund seeks to maximize long-term total return, consistent with prudent management, by investing primarily in a global portfolio of investment-grade bonds denominated in U.S. dollars and other currencies. The fund may also invest in lower quality, high-yield debt securities.

This fund is one of the 33 American Funds. American Funds is one of the nation’s largest mutual fund families. For 80 years, Capital Research and Management Company,SM the American Funds adviser, has invested with a long-term focus based on thorough research and attention to risk.

Fund results shown in this report, unless otherwise indicated, are for Class A shares at net asset value. If a sales charge (maximum 3.75%) 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 March 31, 2011:
	1 year			5 years			10 years
Class A shares
Reflecting 3.75% maximum sales charge		2.29	%		5.82	%		7.52	%

The total annual fund operating expense ratio was 0.88% for Class A shares as of the most recent fiscal year-end.

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. The fund’s investment adviser waived a portion of its management fees from September 1, 2004, through December 31, 2008. Applicable fund results shown reflect the waiver, without which they would have been lower. See the Financial Highlights table on pages 28 to 33 for details.

Results for other share classes can be found on page 39.

The return of principal for bond funds and for funds with significant underlying bond holdings is not guaranteed. Fund shares are subject to the same interest rate, inflation and credit risks associated with the underlying bond holdings. High-yield and lower rated bonds are subject to greater fluctuations in value and risk of loss of income and principal than investment-grade and higher rated bonds. Bond ratings, which typically range from Aaa/AAA (highest) to D (lowest), are assigned by credit rating agencies such as Moody’s, Standard & Poor’s and/or Fitch as an indication of an issuer’s creditworthiness. Investing in bonds issued outside the U.S. may be subject to additional risks. They include currency fluctuations, political and social instability, differing securities regulations and accounting standards, higher transaction costs, possible changes in taxation, illiquidity and price volatility. These risks may be heightened in connection with investments in developing countries. See the prospectus and the Risk Factors section of this report for more information on these and other risks associated with investing in the fund.

Fellow shareholders:

[photo of a Moorish style entryway and wall]


The first six months of Capital World Bond Fund’s current fiscal year were marked by strengthening economic recovery, which drove many bond prices lower. Yet the bond market has stabilized in recent months as concerns about the strength of the recovery lingered.

For the six months ended March 31, 2011, the fund produced a total return of –0.03%. This includes a decline of 47 cents, or 2.23%, in the fund’s share price. Shareholders received dividends totaling 45.7 cents a share during the period, representing an income return of 2.2%, equivalent to 4.4% annualized.

The fund’s six-month total return slightly surpassed that of the unmanaged Barclays Capital Global Aggregate Index, which fell 0.10% during the same period. The fund’s peer group, the Lipper Global Income Funds Index, gained 1.80% for the period.

As you can see in the table below, Capital World Bond Fund continues to sustain its advantage over its peers over longer periods.

[Begin Sidebar]

Results at a glance
For periods ended March 31, 2011, with all distributions reinvested
	Total returns			Average annual total returns
	1 year			5 years			10 years			Lifetime1
Capital World Bond Fund
(Class A shares)		6.25	%		6.63	%		7.93	%		7.34	%
Barclays Capital Global
Aggregate Index2		7.15			6.95			7.02			7.30
Lipper Global Income Funds Index3		7.81			6.46			6.63			—
1 Since August 4, 1987.
2 The Barclays Capital Global Aggregate Index began on December 31, 1989. For the period August 4, 1987, to December 31, 1989, the Citigroup World Government Bond Index was used. The indexes are unmanaged and their results do not reflect the effect of sales charges, commissions, account fees, expenses or taxes.
3 This index did not exist prior to December 30, 1988, and its results do not reflect the effect of sales charges, account fees or taxes.

[End Sidebar]

The global economy

The economic recovery has strengthened and become both more broad-based and sustainable. The efforts of many governments and central banks to provide fiscal and monetary stimulus appear to have worked, and that stimulus is being withdrawn carefully in some countries. While this does not yet include the United States, we expect this stimulus to be withdrawn as conditions improve.

Developing markets have seen the fastest recovery, and some countries — China and India most notably — have raised interest rates to help manage growth and stem inflation. Among developed nations, Australia has likewise seen its central bank raise rates.

In the United States, the Federal Reserve has kept the nation’s benchmark rate steady, between zero and 0.25%. The Fed plans to end its Treasury bond buyback program this summer. The dollar has weakened during the period, and its future path currently appears particularly uncertain.

Some European economies continue to wrestle with debt problems. Greece and Ireland have already accepted bailout packages, while as of this writing, Portugal is in negotiations for a similar rescue package and Spain has taken several austerity measures to forestall the need for aid. Other European nations, most importantly Germany, Belgium, the Netherlands, Luxembourg and the Scandinavian countries, have enjoyed a more robust recovery.

Japan continues to reel from the effects of the tragic earthquake and tsunami that struck in March, as well as its nuclear containment crisis. Prior to this, the country’s economic recovery could be characterized as lackluster; it remains to be seen how much reconstruction will cost, and how Japan will finance it.

Global bond markets

During the fourth quarter of calendar year 2010, most bonds declined to some degree in the face of improving economic conditions and a renewed appetite for riskier investments such as equities. Such a selloff was generally expected as economic growth improved, and some investors were attracted to higher yields, softening the drop in some asset classes.

This scenario changed during the first quarter of 2011, with most bond markets rallying in the face of rising oil prices, unrest in the Middle East and the natural disasters in Japan. Concerns that the sharp rise in energy prices could slow economic growth helped support bond prices, keeping yields in check.

Overall, corporate debt, which made up 25.6% of the fund’s portfolio, continued to outperform Treasuries and other forms of sovereign debt. Developing-markets debt provided stronger returns than bonds from developed nations. The weakness in the dollar compared to other major currencies aided returns from overseas holdings.

The fund’s positioning

While there are reasons to be optimistic about the strength of the ongoing recovery, there remains a chance that the recovery could experience other pauses in the short- to medium-term. Thus, the fund seeks to be positioned conservatively as its portfolio counselors work to determine the global economy’s course amid conflicting trends.

As always, we believe our in-depth research will allow us to identify investments with the greatest potential for long-term appreciation, and we monitor currency fluctuations and interest rate differentials that may aid our shareholders. We continue to search for potential investments, enjoying the diversity in both geography and asset classes that allows us to build a flexible portfolio designed to weather a variety of economic environments. As of March 31, 2011, the fund was invested in more than 390 issuers denominated in 27 currencies from 53 countries in pursuit of its objective.

Cordially,

/s/ Paul G. Haaga, Jr.

Paul G. Haaga, Jr.

Vice Chairman of the Board

/s/ Mark H. Dalzell

Mark H. Dalzell

President

May 12, 2011

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

The fund’s 30-day yield for Class A shares as of April 30, 2011, calculated in accordance with the Securities and Exchange Commission formula, was 2.91%. The fund’s distribution rate for Class A shares as of that date was 3.71%. Both reflect the 3.75% maximum sales charge. The SEC yield reflects the rate at which the fund is earning income on its current portfolio of securities, while the distribution rate reflects the fund’s past dividends paid to shareholders. Accordingly, the fund’s SEC yield and distribution rate may differ.

Portfolio summary as of March 31, 2011

unaudited

[begin pie chart]

Portfolio by type of security	(percent of net assets)
Bonds & notes of governments & government agencies outside the U.S.		50.8	%
Corporate bonds & notes of issuers outside the U.S.		14.2
U.S. corporate bonds & notes		11.4
Mortgage- and asset-backed obligations		9.4
U.S. Treasury bonds & notes		7.8
Bonds & notes of U.S. government agencies & other securities		0.8
Short-term securities & other assets less liabilities		5.6

[end pie chart]

Where the fund’s assets are invested …
… and how those markets have done over the past six months
as of March 31, 2011
							Bond market total returns1
							six months ended
	Capital World Bond Fund						March 31, 2011
Currency weighting	Before forward			After forward			In local			In U.S.
by country:	contracts			contracts			currency			dollars
United States2		42.9	%		48.9	%		−0.9	%		−0.9	%
EMU3		19.2			9.6			−3.7			0.2
Japan		6.5			10.8			−1.4			−0.6
South Korea		4.0			4.0			0.7			4.7
Poland		4.0			4.0			0.5			3.0
Malaysia		3.6			3.6			0.1			2.0
United Kingdom		3.1			1.5			−2.5			−0.8
Sweden		2.8			2.8			−2.1			4.4
Mexico		1.8			1.8			−3.7			1.4
Turkey		1.7			1.7			2.5	4		−4.0	4
Canada		1.6			1.6			−1.4			4.0
Israel		1.4			1.3			—	5		—	5
Hungary		0.9			0.9			2.3			11.6
Singapore		0.8			1.3			−0.7			3.6
Brazil		0.8			0.8			3.7	4		8.0	4
Norway		0.7			0.7			−1.0			4.8
Indonesia		0.7			0.7			−0.1	4		2.4	4
Denmark		0.7			0.7			−4.1			−0.5
Philippines		0.6			0.6			2.6	4		3.8	4
South Africa		0.5			0.5			−1.1			2.4
Australia		0.5			1.0			1.7			8.6
Colombia		0.5			0.5			−0.9	4		−4.6	4
Egypt		0.4			0.4			−5.1	4		−9.4	4
Thailand		0.2			0.2			−2.1			−1.7
Argentina		0.1			0.1			9.8	4		7.3	4
Russian Federation		—	6		—	6		3.4	4		11.3	4
Dominican Republic		—	6		—	6		—	5		—	5
1Source: Barclays Capital Global Aggregate Index.
2Includes U.S. dollar-denominated debt of other countries, totaling 14.4%.
3Countries 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. Euro-denominated bonds include corporate and European government debt.
4Source: JP Morgan GBI–EM Broad Diversified Index.
5This market is not included in the Barclays Capital Global Aggregate Index or the JP Morgan GBI–EM Broad Diversified Index.
6Amount less than 0.1%.

Summary investment portfolio March 31, 2011

unaudited

The following summary investment portfolio is designed to streamline the report and help investors better focus on a fund’s principal holdings. See page 41 for details on how to obtain a complete schedule of portfolio holdings.

	Principal						Percent
	amount			Value			of net
Bonds & notes - 94.29%		(000	)		(000	)	assets
Euros - 19.24%
German Government:
Series 7, 4.00% 2018	€	105,100		US$ 157,728
Series 8, 4.25% 2018		115,540			175,991
3.75% 2019		76,965			113,451
Series 9, 3.25% 2020		111,415			157,862
6.25% 2024		38,396			69,003
1.50%-6.25% 2013-2040 (1)		99,726			156,695			7.11
Italian Government:
4.50% 2019		50,550			71,799
1.85%-5.00% 2012-2040 (1)		83,989			118,921			1.63
Deutsche Genossenschaftsbank-Hypothekenbank AG:
Series 1043, 4.00% 2016 (2)		60,700			88,709
Series 944, 4.50% 2013 (2)		25,500			37,587			1.08
Netherlands Government Eurobond 4.50% 2017		31,235			47,637			.41
French Government:
B.T.A.N. Eurobond 4.50% 2013		33,000			49,258
O.A.T. Eurobond 4.00% 2018		32,865			48,504			.84
Spanish Government 4.30% 2019		34,800			47,267			.40
Dexia Municipal Agency 4.50% 2017 (2)		35,000			50,233			.43
Canadian Government 3.50% 2020		7,000			10,063			.09
Other securities					847,630			7.25
					2,248,338			19.24
Japanese yen - 6.45%
Japanese Government:
Series 248, 0.70% 2013	¥	8,425,100			102,280
Series 269, 1.30% 2015		25,468,400			316,986
Series 14, 1.20% 2017 (1)		4,213,820			51,318
Series 296, 1.50% 2018		3,781,850			47,552
Series 310, 1.00% 2020		4,170,050			49,371
Series 21, 2.30% 2035		3,825,000			47,387
0.50%-2.40% 2012-2038 (1)		9,577,245			120,974			6.30
Other securities					17,962			.15
					753,830			6.45
South Korean won - 4.04%
South Korean Government:
Series 1303, 5.25% 2013	KRW 91,566,430				86,003
Series 1309, 5.75% 2013		55,000,000			52,541
4.75% 2014		46,600,000			43,454
5.00% 2014		79,326,500			74,621
5.25% 2015		67,301,860			64,501
5.50% 2017		60,243,100			58,848
5.75% 2018		45,000,000			44,604
4.25%-4.50% 2014-2015		51,679,000			47,617			4.04
					472,189			4.04
Polish zloty - 3.97%
Polish Government:
Series 0414, 5.75% 2014	PLN 742,150				264,650
Series 1017, 5.25% 2017		527,320			178,761
Series 1013, 5.00% 2013		58,200			20,436			3.97
					463,847			3.97
Malaysian ringgits - 3.56%
Malaysian Government:
Series 509, 3.21% 2013	MYR 176,250				58,191
Series 204, 5.094% 2014		270,215			93,592
Series 0110, 3.835% 2015		277,425			92,599
Series 0207, 3.814% 2017		159,605			52,903
Series 0210, 4.012% 2017		142,845			47,679
3.702%-4.24% 2013-2018		212,370			70,908			3.56
					415,872			3.56
British pounds - 3.04%
United Kingdom 0.66%-6.00% 2011-2046 (1)	£	149,609			260,129			2.23
Other securities					95,457			.81
					355,586			3.04
Swedish kronor - 2.81%
Swedish Government:
Series 1049, 4.50% 2015	SKr 1,080,850				181,720
3.50%-6.75% 2012-2028 (1)  (2)		595,291			110,500			2.50
Other securities					36,110			.31
					328,330			2.81
Mexican pesos - 1.79%
United Mexican States Government:
Series M10, 7.75% 2017	MXN 1,100,400				95,724
4.00%-10.00% 2012-2040 (1)		1,243,724			112,578			1.78
Other securities					1,101			.01
					209,403			1.79
Canadian dollars - 1.63%
Canadian Government:
2.00% 2014	$	C 62,180			63,362
4.25%-5.25% 2012-2021 (1)		37,240			43,654			.92
Other securities					83,416			.71
					190,432			1.63
Turkish liras - 1.43%
Turkey (Republic of):
10.00% 2012 (1)	TRY 107,944				75,376
10.00%-16.00% 2012-2015		135,745			91,646			1.43
					167,022			1.43
Israeli shekels - 1.40%
Israeli Government:
5.50% 2017	ILS 282,395				83,530
Series 12, 5.00% 2020		168,000			47,415
4.50%-6.50% 2015-2016 (1)		105,866			32,414			1.40
					163,359			1.40
Hungarian forints - 0.93%
Hungarian Government 5.50%-8.00% 2014-2019	HUF 20,474,520				108,317			.93
Singapore dollars - 0.81%
Singapore (Republic of) 3.75% 2016	$	S 105,610			94,110			.81
Norwegian kroner - 0.73%
Norwegian Government 5.00% 2015	NKr 250,000				48,136			.41
Other securities					37,728			.32
					85,864			.73
Colombian pesos - 0.47%
Colombia (Republic of) Global 12.00% 2015	COP 60,580,000				41,453			.35
Other securities					13,858			.12
					55,311			.47
U.S. dollars - 37.50%
U.S. Treasury:
1.00% 2012	US$ 116,000				116,811
1.00% 2012		48,735			49,063
3.25% 2016		52,500			54,573
5.125% 2016		42,250			48,145
5.25% 2029		46,350			52,216
4.625% 2040		52,000			53,036
0.875%-8.875% 2011-2041  (1)  (3)		501,603			535,118			7.78
Fannie Mae 0%-9.889% 2017-2048 (2) (4)		570,948			582,534			4.98
Freddie Mac 0%-6.00% 2025-2041 (2) (4)		48,996			48,988			.42
Hungarian Government 6.25%-7.625% 2020-2041		47,930			48,813			.42
Polish Government 6.375% 2019		30,080			33,622			.29
Turkey (Republic of) 5.625%-8.00% 2019-2040		24,360			26,900			.23
United Mexican States Government Global 5.95%-6.375% 2013-2040		8,691			9,681			.08
South Korean Government 5.75% 2014		3,400			3,710			.03
Other securities					2,719,428			23.27
					4,382,638			37.50
Other currencies - 4.49%
Other securities					525,542			4.49
Total bonds & notes (cost: $10,459,157,000)					11,019,990			94.29
							Percent
				Value			of net
Preferred securities - 0.14%					(000	)	assets
U.S. dollars - 0.12%
Other securities					13,252			.12
Miscellaneous - 0.02%
Other preferred securities in initial period of acquisition					2,622			.02
Total preferred securities (cost: $12,669,000)					15,874			.14
							Percent
				Value			of net
Common stocks - 0.02%					(000	)	assets
U.S. dollars - 0.02%
Other securities					1,780			.02
Miscellaneous - 0.00%
Other common stocks in initial period of acquisition					188			.00
Total common stocks (cost: $1,414,000)					1,968			.02
							Percent
				Value			of net
Warrants - 0.00%					(000	)	assets
U.S. dollars - 0.00%
Other securities					72			.00
Miscellaneous - 0.00%
Other warrants in initial period of acquisition					65			.00
Total warrants (cost: $1,197,000)					137			.00
	Principal						Percent
	amount			Value			of net
Short-term securities - 4.79%		(000	)		(000	)	assets
Freddie Mac 0.19%-0.21% due 8/17-11/18/2011	US$ 123,400			US$ 123,277				1.05
National Australia Funding (Delaware) Inc. 0.245% due 4/1/2011 (5)		60,200			60,200			.52
Rabobank USA Financial Corp. 0.24% due 7/5/2011		53,200			53,166			.45
Fannie Mae 0.10% due 5/9/2011		35,000			34,996			.30
Turkey (Republic of) 0% due 1/25/2012	TRY 50,275				30,434			.26
Other securities					257,648			2.21
Total short-term securities (cost: $559,347,000)					559,721			4.79
Total investment securities (cost: $11,033,784,000)					11,597,690			99.24
Other assets less liabilities					89,020			.76
Net assets				US$ 11,686,710				100.00	%

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

"Other securities" includes all issues that are not disclosed separately in the summary investment portfolio, 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 $3,269,000, which represented .03% of the net assets of the fund. One of these securities (with a value of $17,000, which represented less than .01% of the net assets of the fund) may be subject to legal or contractual restrictions on resale.

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) Index-linked bond whose principal amount moves with a government price index.

(2) Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date.

(3) All or a portion of this security was pledged as collateral for losses on unsettled forward currency contracts with certain counterparties. The total value of pledged collateral was $7,951,000, which represented .07% of the net assets of the fund.

(4) Coupon rate may change periodically.

(5) Acquired in a transaction exempt from registration under 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 $1,142,648,000, which represented 9.78% of the net assets of the fund.

See Notes to Financial Statements

Financial statements

Statement of assets and liabilities			unaudited
at March 31, 2011	(dollars in thousands)
Assets:
Investment securities, at value (cost: $11,033,784)			$	11,597,690
Cash denominated in currencies other than U.S. dollars
(cost: $13,462)				13,462
Cash				1,460
Unrealized appreciation on open forward currency contracts				4,639
Receivables for:
Sales of investments	$	170,057
Sales of fund's shares		23,387
Dividends and interest		162,799		356,243
				11,973,494
Liabilities:
Unrealized depreciation on open forward currency contracts				27,066
Payables for:
Purchases of investments		221,664
Repurchases of fund's shares		25,298
Closed forward currency contracts		3,357
Investment advisory services		4,413
Services provided by related parties		4,499
Trustees' deferred compensation		132
Other		355		259,718
Net assets at March 31, 2011			$	11,686,710
Net assets consist of:
Capital paid in on shares of beneficial interest			$	11,269,415
Distributions in excess of net investment income				(15,933	)
Accumulated net realized loss				(112,513	)
Net unrealized appreciation				545,741
Net assets at March 31, 2011			$	11,686,710

(dollars and shares in thousands, except per-share amounts)
Shares of beneficial interest issued and outstanding (no stated par value) - unlimited shares authorized (569,359 total shares outstanding)
	Net assets		Shares  outstanding		Net asset value per share
Class A	$	7,481,291		363,835	$	20.56
Class B		206,512		10,108		20.43
Class C		809,792		39,885		20.30
Class F-1		1,257,870		61,492		20.46
Class F-2		490,357		23,875		20.54
Class 529-A		312,323		15,152		20.61
Class 529-B		19,218		938		20.49
Class 529-C		157,366		7,698		20.44
Class 529-E		16,977		828		20.50
Class 529-F-1		28,531		1,391		20.51
Class R-1		20,730		1,015		20.42
Class R-2		173,822		8,511		20.42
Class R-3		196,012		9,546		20.53
Class R-4		113,319		5,514		20.55
Class R-5		144,510		7,023		20.58
Class R-6		258,080		12,548		20.57
See Notes to Financial Statements

Statement of operations				unaudited
for the six months ended March 31, 2011	(dollars in thousands)
Investment income:
Income:
Interest (net of non-U.S. taxes of $1,168)	$	247,968
Dividends		135		$	248,103
Fees and expenses*:
Investment advisory services		26,094
Distribution services		18,009
Transfer agent services		5,789
Administrative services		3,570
Reports to shareholders		523
Registration statement and prospectus		338
Trustees' compensation		69
Auditing and legal		8
Custodian		1,288
State and local taxes		155
Other		346
Total fees and expenses before reimbursement		56,189
Less reimbursement of fees and expenses		79
Total fees and expenses after reimbursement					56,110
Net investment income					191,993
Net realized gain and unrealized depreciation
on investments, forward currency contracts and currency:
Net realized gain (loss) on:
Investments		127,228
Forward currency contracts		(65,702	)
Currency transactions		525			62,051
Net unrealized (depreciation) appreciation on:
Investments		(268,055	)
Forward currency contracts		518
Currency translations		(547	)		(268,084	)
Net realized gain and unrealized depreciation
on investments, forward currency contracts and currency					(206,033	)
Net decrease in net assets resulting
from operations				$	(14,040	)
(*) Additional information related to class-specific fees and expenses is included in the Notes to Financial Statements.
See Notes to Financial Statements
Statements of changes in net assets
		(dollars in thousands)
	Six months ended March 31, 2011*			Year ended September 30, 2010
Operations:
Net investment income	$	191,993		$	379,774
Net realized gain on investments, forward currency contracts and currency transactions		62,051			169,578
Net unrealized (depreciation) appreciation on investments, forward currency contracts and currency translations		(268,084	)		266,715
Net (decrease) increase in net assets resulting from operations		(14,040	)		816,067
Dividends paid to shareholders from net investment income		(254,132	)		(407,357	)
Net capital share transactions		35,660			1,652,005
Total (decrease) increase in net assets		(232,512	)		2,060,715
Net assets:
Beginning of period		11,919,222			9,858,507
End of period (including distributions in excess of and undistributed
net investment income: $(15,933) and $46,206, respectively)	$	11,686,710		$	11,919,222
*Unaudited.
See Notes to Financial Statements

Notes to financial statements                                                                                 

                         unaudited

1.   Organization

Capital World Bond Fund (the "fund") is registered under the Investment Company Act of 1940 as an open-end, nondiversified management investment company. The fund seeks to maximize long-term total return, consistent with prudent management, by investing primarily in a global portfolio of investment-grade bonds denominated in U.S. dollars and other currencies. The fund may also invest in lower quality, high-yield debt securities. Effective December 1, 2010, the fund reorganized from a Maryland corporation to a Delaware statutory trust in accordance with a proposal approved by shareholders on November 24, 2009.

The fund has 16 share classes consisting of five retail share classes, five 529 college savings plan share classes and six retirement plan share classes. The 529 college savings plan share classes (529-A, 529-B, 529-C, 529-E and 529-F-1) can be used to save for college education. The six retirement plan share classes (R-1, R-2, R-3, R-4, R-5 and R-6) are generally offered only through eligible employer-sponsored retirement plans. The fund’s share classes are described below:

Share class	Initial sales charge	Contingent deferred sales charge upon redemption	Conversion feature
Classes A and 529-A	Up to 3.75%	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 class.

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 recognizedon an accrual basis. Market discounts, premiums and original issue discounts on fixed-income securities are amortized daily over the expected life of the security.

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

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

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

Loan transactions – The fund may enter into loan transactions in which the fund acquires a loan either through an agent, by assignment from another holder, or as a participation interest in another holder's portion of a loan. The loan is often administered by a financial institution that acts as agent for the holders of the loan, and the fund may be required to receive approval from the agent and/or borrower prior to the sale of the investment. The loan's interest rate and maturity date may change based on the terms of the loan, including potential early payments of principal.

3.   Valuation

The fund’s investments are reported at fair value as defined by accounting principles generally accepted in the United States of America. The fund generally determines the net asset value of each share class as of approximately 4:00 p.m. New York time each day the New York Stock Exchange is open.

Methods and inputs – The fund uses the following methods and inputs to establish the fair value of its 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 in 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 as of approximately 3:00 p.m. New York time 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
Mortgage-backed; asset-backed obligations	Standard inputs and cash flows, prepayment information, default rates, delinquency and loss assumptions, collateral characteristics, credit enhancements and specific deal information
Municipal securities	Standard inputs and, for certain distressed securities, cash flows or liquidation values using a net present value calculation based on inputs that include, but are not limited to, financial statements and debt contracts

Where the 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 asked prices that are reasonably and timely available (or bid prices, if asked prices are not available) or at prices for securities of comparable maturity, quality and type.

Securities with both fixed-income and equity characteristics, or equity securities traded principally among fixed-income dealers, are generally valued in the manner described above for either equity or fixed-income securities, depending on which method is deemed most appropriate by the investment adviser. Short-term securities purchased within 60 days to maturity are valued at amortized cost, which approximates fair value. The value of short-term securities originally purchased with maturities greater than 60 days is determined based on an amortized value to par when they reach 60 days. Forward currency contracts are valued at the mean of representative quoted bid and asked prices.

Securities and other assets for which representative market quotations are not readily available or are considered unreliable by the investment adviser are fair valued as determined in good faith under guidelines adopted by authority of the fund's board of trustees. Various inputs may be reviewed in order to make a good faith determination of a security’s fair value. These inputs include, but are not limited to, the type and cost of the security; contractual or legal restrictions on resale of the security; relevant financial or business developments of the issuer; actively traded similar or related securities; conversion or exchange rights on the security; related corporate actions; significant events occurring after the close of trading in the security; and changes in overall market conditions. 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.

Classifications - The fund classifies its 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. Level 3 values are based on significant unobservable inputs that reflect the fund’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 March 31, 2011 (dollars in thousands):

Investment securities:	Level 1		Level 2			Level 3		Total
Bonds & notes:
Euros	$	-	$	2,248,338		$	-	$	2,248,338
Japanese yen		-		753,830			-		753,830
South Korean won		-		472,189			-		472,189
Polish zloty		-		463,847			-		463,847
Malaysian ringgits		-		415,872			-		415,872
British pounds		-		355,586			-		355,586
Swedish kronor		-		328,330			-		328,330
Mexican pesos		-		209,403			-		209,403
Canadian dollars		-		190,432			-		190,432
U.S. dollars		-		4,379,386			3,252		4,382,638
Other currencies		-		1,199,525			-		1,199,525
Preferred securities		2,622		13,252			-		15,874
Common stocks		1,951		-			17		1,968
Warrants		137		-			-		137
Short-term securities		-		559,721			-		559,721
Total	$	4,710	$	11,589,711		$	3,269	$	11,597,690
Forward currency contracts (1):	Level 1		Level 2			Level 3		Total
Unrealized appreciation on open forward currency contracts	$	-	$	4,639		$	-	$	4,639
Unrealized depreciation on open forward currency contracts		-		(27,066	)		-		(27,066	)
Total	$	-	$	(22,427	)	$	-	$	(22,427	)
(1) Forward currency contracts are not included in the investment portfolio.

The following table reconciles the valuation of the fund's Level 3 investment securities and related transactions for the six months ended March 31, 2011 (dollars in thousands):
	Beginning value at 10/1/2010		Transfers into Level 3(2)		Purchases		Unrealized depreciation(3)			Transfers out of Level 3(2)			Sales			Ending value at 3/31/2011
Investment securities	$	4,166	$	355	$	1,257	$	(1,007	)	$	(1,304	)	$	(198	)	$	3,269
Net unrealized appreciation during the period on Level 3 investment securities held at March 31, 2011 (dollars in thousands) (3):																$	36
(2) Transfers into or out of Level 3 are based on the beginning market value of the quarter in which they occurred.
(3) Net unrealized (depreciation) appreciation is included in the related amounts on investments in the statement of operations.

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 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 bonds — Rising interest rates will generally cause the prices of bonds and other debt securities to fall. In addition, falling interest rates may cause an issuer to redeem, “call” or refinance a security before its stated maturity, which may result in the fund having to reinvest the proceeds in lower yielding securities. Longer maturity debt securities may be subject to greater price fluctuations than shorter maturity debt securities. Bonds and other debt securities are subject to credit risk, which is the possibility that the credit strength of an issuer will weaken and/or an issuer of a debt security will fail to make timely payments of principal or interest and the security will go into default.

Investing in lower rated bonds — Lower rated bonds and other lower rated debt securities generally have higher rates of interest and involve greater risk of default or price declines due to changes in the issuer’s creditworthiness than those of higher quality debt securities. The market prices of these securities may fluctuate more than the prices of higher quality debt securities and may decline significantly in periods of general economic difficulty. These risks may be increased with respect to investments in junk bonds.

Currency — The prices of, and the income generated by, many of the debt securities held by the fund may also be affected by changes in relative currency values.

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 political, social or economic developments in the country or region in which the issuer operates. These securities may also lose value due to changes in the exchange rate of the country’s currency against the U.S. dollar. 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 than those in the U.S. These risks may be heightened in connection with investments in developing countries.

Management — The investment adviser to the fund actively manages the fund’s investments. Consequently, the fund is subject to the risk that the techniques and risk 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 results to lag relevant benchmarks or other funds with similar objectives.

5.   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.

As of and during the period ended March 31, 2011, 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 2006, and by state tax authorities and tax authorities outside the U.S. for tax years before 2005.

Non-U.S. taxation – Dividend and interest income are recorded net of non-U.S. taxes paid.

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 gainsfor 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; cost of investments sold; paydowns on fixed-income securities; net capital losses; and income on certain investments.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 September 30, 2010, the components of distributable earnings on a tax basis were as follows:

	(dollars in thousands)
Undistributed ordinary income				$	31,209
Capital loss carryforwards*:
Expiring 2016	$	(1,821	)
Expiring 2017		(104,540	)
Expiring 2018		(59,324	)		(165,685	)
*The capital loss carryforwards 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 capital loss carryforwards remain.

Under the Regulated Investment Company Modernization Act of 2010 (the “Act”), net capital losses recognized after September 30, 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.

As of March 31, 2011, the tax basis unrealized appreciation (depreciation) and cost of investment securities were as follows:

(dollars in thousands)
Gross unrealized appreciation on investment securities	$	642,200
Gross unrealized depreciation on investment securities		(98,138	)
Net unrealized appreciation on investment securities		544,062
Cost of investment securities		11,053,628

Tax-basis distributions paid to shareholders from ordinary income were as follows (dollars in thousands):

Share class	Six months ended March 31, 2011		Year ended September 30, 2010
Class A	$	165,879	$	268,737
Class B		3,968		7,439
Class C		15,183		24,473
Class F-1		28,158		47,344
Class F-2		11,310		17,016
Class 529-A		6,620		9,264
Class 529-B		351		613
Class 529-C		2,767		3,790
Class 529-E		336		464
Class 529-F-1		619		855
Class R-1		386		588
Class R-2		3,135		4,584
Class R-3		3,922		5,708
Class R-4		2,455		3,848
Class R-5		3,336		5,207
Class R-6		5,707		7,427
Total	$	254,132	$	407,357

6.   Fees and transactions with related parties

Capital Research and Management Company ("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.

Investment advisory services - The Investment Advisory and Service Agreement with CRMC providesfor monthly fees accrued daily. These fees are based on a series of decreasing annual rates beginning with 0.570% on the first $1 billion of daily net assets and decreasing to 0.380% on such assets in excess of $10 billion. For the six months ended March 31, 2011, the investment advisory services fee was $26,094,000, which was equivalent to an annualized rate of 0.445% of average dailynet assets.

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

Distribution services – The fund has adopted plans of distribution for all share classes, except Classes F-2, R-5 and R-6. Under the plans, the board of trustees approves certain categories of expenses that are used to finance activities primarily intended to sell fund shares and service existing accounts. The plans provide for payments, based on an annualized percentage of average daily net assets, ranging from 0.30% to 1.00% as noted below. In some cases, the board of trustees has limited the amounts that may be paid to less than the maximum allowed by the plans.All share classes with a plan may use up to 0.25% of average daily net assets to pay service fees, or to compensate AFD for paying service fees, to firms that have entered into agreements with AFD to provide certain shareholder services. The remaining amounts available to be paid under each plan are paid to dealers to compensate them for their sales activities.

For Classes A and 529-A, the board of trustees has also approved the reimbursement of dealer and wholesaler commissions paid by AFD for certain shares sold without a sales charge. These classes reimburse AFD for amounts billed within the prior 15 months but only to the extent that the overall annual expense limit of 0.30%is not exceeded. As of March 31, 2011, there were no unreimbursed expenses subject to reimbursement for Classes A or 529-A.

Share class	Currently approved limits	Plan limits
Class A	0.30%	0.30%
Class 529-A	0.30	0.50
Classes B and 529-B	1.00	1.00
Classes C, 529-C and R-1	1.00	1.00
Class R-2	0.75	1.00
Classes 529-E and R-3	0.50	0.75
Classes F-1, 529-F-1 and R-4	0.25	0.50

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

Administrative services – The fund has an administrative services agreement with CRMC for all share classes, except Classes A and B, to provide certain services, including transfer agent and recordkeeping services; coordinating, monitoring, assisting and overseeing third-party service providers; and educating advisers and shareholders about the impact of market-related events, tax laws affecting investments, retirement plan restrictions, exchange limitations and other related matters. Each relevant share class pays CRMC annual fees up to 0.15% (0.10% for Class R-5 and 0.05% for Class R-6) based on its respective average daily net assets. Each relevant share class also pays AFS additional amounts for certain transfer agent services. CRMC and AFS may use these fees to compensate third parties for performing these services. CRMC has agreed to pay AFS on the fund's behalf for a portion of the transfer agent services fees for some of the retirement plan share classes. For the six months ended March 31, 2011, the total administrative services fees paid by CRMC were $79,000 for Class R-2. Administrative services fees are presented gross of any payments made by CRMC.

Each 529 share class is subject to an additional administrative services fee payable to 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. Although these amounts are included with administrative services fees on the accompanying financial statements, the Commonwealth of Virginia is not considered a related party.

Expenses under the agreements described on the previous page for the six months ended March 31, 2011, were as follows (dollars in thousands):

					Administrative services
Share class	Distribution services		Transfer agent services		CRMC administrative services		Transfer  agent services		Commonwealth of Virginia administrative services
Class A	$	8,593	$	5,617	Not applicable		Not applicable		Not applicable
Class B		1,116		172	Not applicable		Not applicable		Not applicable
Class C		4,163	Included in administrative services		$	625	$	113	Not applicable
Class F-1		1,585				959		52	Not applicable
Class F-2	Not applicable					338		11	Not applicable
Class 529-A		303				159		30	$	150
Class 529-B		101				11		4		10
Class 529-C		753				80		23		76
Class 529-E		40				9		2		8
Class 529-F-1		-				14		2		13
Class R-1		106				12		7	Not applicable
Class R-2		638				124		306	Not applicable
Class R-3		473				133		81	Not applicable
Class R-4		138				78		6	Not applicable
Class R-5	Not applicable					70		4	Not applicable
Class R-6	Not applicable					59		1	Not applicable
Total	$	18,009	$	5,789	$	2,671	$	642	$	257

Trustees’ deferred compensation – Trustees who are unaffiliated with CRMCmay elect to defer the cash payment of part or all of their compensation. These deferred amounts, which remain as liabilities of the fund, are treated as if invested in shares of the fund or other American Funds. These amounts represent general, unsecured liabilities of the fund and vary according to the total returns of the selected funds. Trustees’ compensation of $69,000, shown on the accompanying financial statements, includes $47,000 in current fees (either paid in cash or deferred) and a net increase of $22,000 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, AFS and AFD. No affiliated officers or trustees received any compensation directly from the fund.

7.   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 March 31, 2011
Class A	$	809,432		39,019	$	158,020		7,761	$	(993,409	)		(48,128	)	$	(25,957	)		(1,348	)
Class B		12,571		609		3,775		187		(46,903	)		(2,286	)		(30,557	)		(1,490	)
Class C		85,634		4,184		14,186		706		(132,745	)		(6,522	)		(32,925	)		(1,632	)
Class F-1		223,109		10,829		26,025		1,285		(268,364	)		(13,072	)		(19,230	)		(958	)
Class F-2		95,280		4,605		9,180		451		(71,795	)		(3,483	)		32,665			1,573
Class 529-A		46,566		2,245		6,619		325		(26,306	)		(1,276	)		26,879			1,294
Class 529-B		1,527		74		351		17		(3,834	)		(186	)		(1,956	)		(95	)
Class 529-C		24,871		1,210		2,767		137		(14,468	)		(708	)		13,170			639
Class 529-E		2,511		122		336		17		(1,298	)		(64	)		1,549			75
Class 529-F-1		5,581		272		616		30		(2,399	)		(117	)		3,798			185
Class R-1		3,241		157		380		19		(3,882	)		(190	)		(261	)		(14	)
Class R-2		34,855		1,699		3,134		155		(32,846	)		(1,602	)		5,143			252
Class R-3		47,370		2,292		3,918		193		(37,095	)		(1,798	)		14,193			687
Class R-4		24,855		1,203		2,450		120		(25,352	)		(1,227	)		1,953			96
Class R-5		30,784		1,481		3,330		163		(31,792	)		(1,536	)		2,322			108
Class R-6		48,218		2,329		5,707		280		(9,051	)		(440	)		44,874			2,169
Total net increase
(decrease)	$	1,496,405		72,330	$	240,794		11,846	$	(1,701,539	)		(82,635	)	$	35,660			1,541
Year ended September 30, 2010
Class A	$	2,536,760		124,783	$	253,031		12,526	$	(1,737,470	)		(86,018	)	$	1,052,321			51,291
Class B		56,614		2,801		7,076		353		(89,532	)		(4,459	)		(25,842	)		(1,305	)
Class C		296,908		14,792		22,626		1,134		(206,945	)		(10,376	)		112,589			5,550
Class F-1		479,083		23,695		42,719		2,126		(471,898	)		(23,436	)		49,904			2,385
Class F-2		263,692		12,997		13,499		669		(149,346	)		(7,394	)		127,845			6,272
Class 529-A		103,724		5,100		9,263		457		(31,497	)		(1,551	)		81,490			4,006
Class 529-B		5,429		268		613		30		(5,409	)		(269	)		633			29
Class 529-C		56,993		2,824		3,789		189		(22,303	)		(1,109	)		38,479			1,904
Class 529-E		5,970		296		464		23		(2,281	)		(113	)		4,153			206
Class 529-F-1		9,146		452		855		42		(3,254	)		(161	)		6,747			333
Class R-1		8,971		445		579		29		(6,111	)		(304	)		3,439			170
Class R-2		73,852		3,667		4,582		228		(42,324	)		(2,106	)		36,110			1,789
Class R-3		97,258		4,806		5,699		282		(67,443	)		(3,348	)		35,514			1,740
Class R-4		52,394		2,582		3,837		190		(39,997	)		(1,972	)		16,234			800
Class R-5		70,886		3,490		5,199		257		(45,511	)		(2,242	)		30,574			1,505
Class R-6		83,946		4,141		7,427		367		(9,558	)		(473	)		81,815			4,035
Total net increase
(decrease)	$	4,201,626		207,139	$	381,258		18,902	$	(2,930,879	)		(145,331	)	$	1,652,005			80,710
(*)Includes exchanges between share classes of the fund.

8.   Investment transactions

The fund made purchases and sales of investment securities, excluding short-term securities and U.S. government obligations, if any, of $4,645,122,000 and $4,637,800,000, respectively, during the six months ended March 31, 2011.

9.   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 enters into these contracts to manage its 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. To reduce these risks, 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 can not meet their contractual obligations.

On a daily basis, the fund values forward currency contracts based on the applicable exchange rate and records unrealized appreciation or depreciation for open forward currency contracts in the statement of assets and liabilities. The fund records realized gains or losses at the time the forward 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 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 statement of operations.

As of March 31, 2011, the fund had open forward currency contracts to purchase or sell currencies, as shown on the following table. The open forward currency contracts shown are generally indicative of the level of activity over the prior 12-month period.

							(amounts in thousands)
	Settlement		Contract amount				Unrealized appreciation (depreciation) at 3/31/2011
	date	Counterparty	Receive		Deliver
Purchases:
Australian dollars	4/18/2011	UBS AG	$	A35,619	$	35,797	US$964
Australian dollars	4/18/2011	UBS AG	$	A22,873	$	22,987		619
Japanese yen	4/12/2011	JPMorgan Chase	¥	2,001,223	$	24,233		(172	)
Japanese yen	4/18/2011	HSBC Bank	¥	9,489,438	$	116,000		(1,906	)
Japanese yen	4/18/2011	Bank of New York Mellon	¥	9,040,000	$	110,716		(2,026	)
Japanese yen	4/26/2011	UBS AG	¥	3,766,830	$	46,470		(1,178	)
Japanese yen	4/26/2011	Barclays Bank PLC	¥	3,894,284	$	48,137		(1,313	)
Japanese yen	4/26/2011	HSBC Bank	¥	8,284,500	$	102,366		(2,755	)
Japanese yen	5/6/2011	Barclays Bank PLC	¥	650,000	$	7,845		(29	)
Singapore dollars	4/26/2011	UBS AG	$	S40,804	$	32,273		99
Singapore dollars	4/26/2011	UBS AG	$	S29,593	$	23,234		244
Swedish kronor	4/26/2011	Barclays Bank PLC	SKr146,733		$	23,235		(17	)
							US$(7,470)
Sales:
British pounds	4/5/2011	HSBC Bank	$	76,757	£	47,090	US$1,219
British pounds	4/14/2011	Barclays Bank PLC	$	11,289	£	7,000		61
British pounds	4/18/2011	UBS AG	$	7,274	£	4,500		57
British pounds	4/26/2011	UBS AG	€	37,061	£	32,220		826
British pounds	4/26/2011	JPMorgan Chase	$	7,182	£	4,425		85
British pounds	4/26/2011	JPMorgan Chase	€	6,336	£	5,510		139
British pounds	4/26/2011	JPMorgan Chase	$	6,520	£	4,000		105
British pounds	4/28/2011	Bank of New York Mellon	$	13,958	£	8,600		166
British pounds	4/28/2011	JPMorgan Chase	$	4,115	£	2,575		(15	)
Euros	4/8/2011	JPMorgan Chase	$	221,008	€	158,040		(2,947	)
Euros	4/12/2011	HSBC Bank	$	41,713	€	30,000		(796	)
Euros	4/12/2011	JPMorgan Chase	$	32,334	€	23,250		(610	)
Euros	4/12/2011	HSBC Bank	$	87,687	€	62,840		(1,355	)
Euros	4/12/2011	JPMorgan Chase	$	12,333	€	8,870		(235	)
Euros	4/14/2011	Barclays Bank PLC	$	4,147	€	3,000		(104	)
Euros	4/14/2011	JPMorgan Chase	$	47,587	€	34,500		(1,296	)
Euros	4/14/2011	HSBC Bank	$	5,282	€	3,800		(102	)
Euros	4/14/2011	JPMorgan Chase	$	57,587	€	41,750		(1,568	)
Euros	4/14/2011	Barclays Bank PLC	$	49,887	€	35,890		(965	)
Euros	4/15/2011	JPMorgan Chase	¥	4,042,383	€	35,590		(1,824	)
Euros	4/15/2011	JPMorgan Chase	$	107,078	€	77,200		(2,304	)
Euros	4/18/2011	Barclays Bank PLC	$	14,875	€	10,640		(200	)
Euros	4/18/2011	JPMorgan Chase	$	13,870	€	10,000		(298	)
Euros	4/18/2011	Bank of New York Mellon	$	18,174	€	13,000		(244	)
Euros	4/20/2011	HSBC Bank	$	35,228	€	25,250		(463	)
Euros	4/26/2011	UBS AG	$	4,263	€	3,000		13
Euros	4/26/2011	JPMorgan Chase	$	283,980	€	201,219		(1,053	)
Euros	4/26/2011	JPMorgan Chase	¥	1,176,013	€	10,315		(471	)
Euros	4/28/2011	HSBC Bank	$	9,430	€	6,650		10
Euros	4/28/2011	HSBC Bank	$	19,852	€	14,000		22
Euros	4/29/2011	Barclays Bank PLC	$	11,532	€	8,190		(69	)
Euros	4/29/2011	UBS AG	$	11,951	€	8,500		(88	)
Euros	5/2/2011	UBS AG	$	33,394	€	23,650		(103	)
Euros	5/4/2011	UBS AG	$	5,038	€	3,550		10
Israeli shekels	4/5/2011	HSBC Bank	$	11,593	ILS42,125			(508	)
Swedish kronor	4/26/2011	HSBC Bank	€	17,752	SKr159,250			(52	)
							US$(14,957)
Forward currency contracts - net							US$(22,427)

Financial highlights(1)

				(Loss) income from investment operations(2)								Dividends and distributions
		Net asset value, beginning of period		Net investment income		Net (losses) gains on securities (both realized and unrealized)			Total from investment operations			Dividends (from net investment income)			Distributions (from capital gains)			Total dividends and distributions			Net asset value, end of period		Total return(3)(4)			Net assets, end of period (in millions)		Ratio of expenses to average net assets before reimbursements/ waivers			Ratio of expenses to average net assets after reimbursements/ waivers(4)			Ratio of net income to average net assets(4)
Class A:	Six months ended 3/31/2011(5)	$	21.03	$	.35	$	(.36	)	$	(.01	)	$	(.46	)	$	-		$	(.46	)	$	20.56		(.03	)%	$	7,481		.87	%⁽⁶⁾		.87	%⁽⁶⁾		3.36	%⁽⁶⁾
	Year ended 9/30/2010		20.28		.71		.80			1.51			(.76	)		-			(.76	)		21.03		7.63			7,679		.88			.88			3.52
	Year ended 9/30/2009		18.88		.74		1.65			2.39			(.99	)		-			(.99	)		20.28		13.17			6,364		.87			.86			4.00
	Year ended 9/30/2008		20.17		.87		(1.05	)		(.18	)		(1.05	)		(.06	)		(1.11	)		18.88		(1.06	)		6,190		.90			.86			4.31
	Year ended 9/30/2007		18.93		.84		1.04			1.88			(.64	)		-			(.64	)		20.17		10.14			3,569		.98			.93			4.32
	Year ended 9/30/2006		19.34		.78		(.23	)		.55			(.74	)		(.22	)		(.96	)		18.93		3.05			2,246		.96			.91			4.19
Class B:	Six months ended 3/31/2011(5)		20.89		.26		(.35	)		(.09	)		(.37	)		-			(.37	)		20.43		(.39	)		207		1.64⁽⁶⁾			1.64⁽⁶⁾			2.57⁽⁶⁾
	Year ended 9/30/2010		20.15		.56		.78			1.34			(.60	)		-			(.60	)		20.89		6.79			242		1.64			1.64			2.76
	Year ended 9/30/2009		18.73		.59		1.63			2.22			(.80	)		-			(.80	)		20.15		12.23			260		1.68			1.66			3.20
	Year ended 9/30/2008		20.02		.71		(1.03	)		(.32	)		(.91	)		(.06	)		(.97	)		18.73		(1.78	)		291		1.64			1.60			3.56
	Year ended 9/30/2007		18.79		.69		1.04			1.73			(.50	)		-			(.50	)		20.02		9.38			156		1.71			1.66			3.59
	Year ended 9/30/2006		19.21		.63		(.23	)		.40			(.60	)		(.22	)		(.82	)		18.79		2.22			119		1.74			1.68			3.41
Class C:	Six months ended 3/31/2011(5)		20.77		.26		(.36	)		(.10	)		(.37	)		-			(.37	)		20.30		(.43	)		810		1.67⁽⁶⁾			1.67⁽⁶⁾			2.56⁽⁶⁾
	Year ended 9/30/2010		20.04		.54		.79			1.33			(.60	)		-			(.60	)		20.77		6.79			862		1.67			1.67			2.73
	Year ended 9/30/2009		18.63		.58		1.62			2.20			(.79	)		-			(.79	)		20.04		12.23			721		1.70			1.68			3.17
	Year ended 9/30/2008		19.92		.70		(1.03	)		(.33	)		(.90	)		(.06	)		(.96	)		18.63		(1.81	)		730		1.69			1.64			3.52
	Year ended 9/30/2007		18.71		.68		1.03			1.71			(.50	)		-			(.50	)		19.92		9.31			400		1.74			1.69			3.56
	Year ended 9/30/2006		19.13		.62		(.23	)		.39			(.59	)		(.22	)		(.81	)		18.71		2.21			243		1.78			1.72			3.38
Class F-1:	Six months ended 3/31/2011(5)		20.92		.34		(.35	)		(.01	)		(.45	)		-			(.45	)		20.46		.01			1,258		.89⁽⁶⁾			.89⁽⁶⁾			3.33⁽⁶⁾
	Year ended 9/30/2010		20.18		.71		.78			1.49			(.75	)		-			(.75	)		20.92		7.61			1,307		.88			.88			3.51
	Year ended 9/30/2009		18.79		.74		1.63			2.37			(.98	)		-			(.98	)		20.18		13.12			1,212		.90			.89			3.98
	Year ended 9/30/2008		20.08		.87		(1.05	)		(.18	)		(1.05	)		(.06	)		(1.11	)		18.79		(1.03	)		1,521		.89			.84			4.33
	Year ended 9/30/2007		18.85		.85		1.03			1.88			(.65	)		-			(.65	)		20.08		10.18			977		.92			.87			4.38
	Year ended 9/30/2006		19.26		.78		(.23	)		.55			(.74	)		(.22	)		(.96	)		18.85		3.07			555		.95			.89			4.22
Class F-2:	Six months ended 3/31/2011(5)		21.01		.37		(.36	)		.01			(.48	)		-			(.48	)		20.54		.09			490		.63⁽⁶⁾			.63⁽⁶⁾			3.60⁽⁶⁾
	Year ended 9/30/2010		20.25		.76		.81			1.57			(.81	)		-			(.81	)		21.01		7.97			468		.62			.62			3.77
	Year ended 9/30/2009		18.89		.78		1.64			2.42			(1.06	)		-			(1.06	)		20.25		13.35			325		.66			.66			4.08
	Period from 8/1/2008 to 9/30/2008		20.05		.13		(1.29	)		(1.16	)		-			-			-			18.89		(5.79	)		28		.11			.10			.71
Class 529-A:	Six months ended 3/31/2011(5)		21.08		.34		(.36	)		(.02	)		(.45	)		-			(.45	)		20.61		(.05	)		312		.92⁽⁶⁾			.92⁽⁶⁾			3.31⁽⁶⁾
	Year ended 9/30/2010		20.32		.70		.81			1.51			(.75	)		-			(.75	)		21.08		7.62			292		.93			.93			3.46
	Year ended 9/30/2009		18.93		.73		1.64			2.37			(.98	)		-			(.98	)		20.32		13.02			200		.94			.93			3.92
	Year ended 9/30/2008		20.21		.86		(1.04	)		(.18	)		(1.04	)		(.06	)		(1.10	)		18.93		(1.03	)		158		.93			.88			4.29
	Year ended 9/30/2007		18.97		.83		1.04			1.87			(.63	)		-			(.63	)		20.21		10.09			93		1.00			.95			4.30
	Year ended 9/30/2006		19.38		.78		(.23	)		.55			(.74	)		(.22	)		(.96	)		18.97		3.02			57		.99			.94			4.18
Class 529-B:	Six months ended 3/31/2011(5)		20.95		.26		(.36	)		(.10	)		(.36	)		-			(.36	)		20.49		(.43	)		19		1.73⁽⁶⁾			1.73⁽⁶⁾			2.49⁽⁶⁾
	Year ended 9/30/2010		20.21		.54		.78			1.32			(.58	)		-			(.58	)		20.95		6.69			22		1.74			1.74			2.66
	Year ended 9/30/2009		18.78		.57		1.64			2.21			(.78	)		-			(.78	)		20.21		12.16			20		1.77			1.76			3.09
	Year ended 9/30/2008		20.07		.69		(1.04	)		(.35	)		(.88	)		(.06	)		(.94	)		18.78		(1.91	)		18		1.76			1.71			3.46
	Year ended 9/30/2007		18.84		.67		1.04			1.71			(.48	)		-			(.48	)		20.07		9.25			11		1.82			1.77			3.47
	Year ended 9/30/2006		19.26		.61		(.23	)		.38			(.58	)		(.22	)		(.80	)		18.84		2.10			8		1.86			1.81			3.29
Class 529-C:	Six months ended 3/31/2011(5)		20.91		.26		(.36	)		(.10	)		(.37	)		-			(.37	)		20.44		(.44	)		157		1.72⁽⁶⁾			1.72⁽⁶⁾			2.51⁽⁶⁾
	Year ended 9/30/2010		20.17		.54		.79			1.33			(.59	)		-			(.59	)		20.91		6.75			148		1.73			1.73			2.66
	Year ended 9/30/2009		18.76		.58		1.62			2.20			(.79	)		-			(.79	)		20.17		12.09			104		1.77			1.76			3.09
	Year ended 9/30/2008		20.05		.69		(1.03	)		(.34	)		(.89	)		(.06	)		(.95	)		18.76		(1.87	)		83		1.75			1.70			3.47
	Year ended 9/30/2007		18.83		.67		1.04			1.71			(.49	)		-			(.49	)		20.05		9.23			45		1.81			1.76			3.49
	Year ended 9/30/2006		19.25		.62		(.24	)		.38			(.58	)		(.22	)		(.80	)		18.83		2.14			27		1.84			1.79			3.32
Class 529-E:	Six months ended 3/31/2011(5)	$	20.97	$	.31	$	(.36	)	$	(.05	)	$	(.42	)	$	-		$	(.42	)	$	20.50		(.20	)%	$	17		1.22	%⁽⁶⁾		1.22	%⁽⁶⁾		3.01	%⁽⁶⁾
	Year ended 9/30/2010		20.22		.64		.80			1.44			(.69	)		-			(.69	)		20.97		7.30			16		1.22			1.22			3.17
	Year ended 9/30/2009		18.82		.67		1.64			2.31			(.91	)		-			(.91	)		20.22		12.71			11		1.26			1.24			3.60
	Year ended 9/30/2008		20.11		.80		(1.05	)		(.25	)		(.98	)		(.06	)		(1.04	)		18.82		(1.38	)		9		1.24			1.19			3.98
	Year ended 9/30/2007		18.88		.77		1.04			1.81			(.58	)		-			(.58	)		20.11		9.77			5		1.30			1.25			4.00
	Year ended 9/30/2006		19.30		.72		(.24	)		.48			(.68	)		(.22	)		(.90	)		18.88		2.64			3		1.32			1.27			3.84
Class 529-F-1:	Six months ended 3/31/2011(5)		20.98		.36		(.36	)		-			(.47	)		-			(.47	)		20.51		.05			29		.72⁽⁶⁾			.72⁽⁶⁾			3.52⁽⁶⁾
	Year ended 9/30/2010		20.23		.74		.80			1.54			(.79	)		-			(.79	)		20.98		7.82			25		.72			.72			3.67
	Year ended 9/30/2009		18.85		.76		1.64			2.40			(1.02	)		-			(1.02	)		20.23		13.27			18		.76			.75			4.10
	Year ended 9/30/2008		20.14		.90		(1.05	)		(.15	)		(1.08	)		(.06	)		(1.14	)		18.85		(.89	)		14		.73			.69			4.49
	Year ended 9/30/2007		18.90		.87		1.04			1.91			(.67	)		-			(.67	)		20.14		10.33			9		.80			.75			4.51
	Year ended 9/30/2006		19.31		.81		(.23	)		.58			(.77	)		(.22	)		(.99	)		18.90		3.19			4		.82			.77			4.35
Class R-1:	Six months ended 3/31/2011(5)		20.89		.26		(.36	)		(.10	)		(.37	)		-			(.37	)		20.42		(.43	)		21		1.66⁽⁶⁾			1.66⁽⁶⁾			2.56⁽⁶⁾
	Year ended 9/30/2010		20.15		.55		.79			1.34			(.60	)		-			(.60	)		20.89		6.80			21		1.67			1.67			2.72
	Year ended 9/30/2009		18.74		.59		1.62			2.21			(.80	)		-			(.80	)		20.15		12.20			17		1.69			1.68			3.17
	Year ended 9/30/2008		20.03		.71		(1.03	)		(.32	)		(.91	)		(.06	)		(.97	)		18.74		(1.77	)		16		1.67			1.62			3.55
	Year ended 9/30/2007		18.82		.68		1.04			1.72			(.51	)		-			(.51	)		20.03		9.30			9		1.78			1.71			3.56
	Year ended 9/30/2006		19.24		.63		(.23	)		.40			(.60	)		(.22	)		(.82	)		18.82		2.22			3		1.83			1.71			3.40
Class R-2:	Six months ended 3/31/2011(5)		20.89		.26		(.35	)		(.09	)		(.38	)		-			(.38	)		20.42		(.42	)		174		1.74⁽⁶⁾			1.65⁽⁶⁾			2.58⁽⁶⁾
	Year ended 9/30/2010		20.15		.55		.79			1.34			(.60	)		-			(.60	)		20.89		6.83			173		1.73			1.65			2.74
	Year ended 9/30/2009		18.74		.59		1.62			2.21			(.80	)		-			(.80	)		20.15		12.22			130		1.83			1.66			3.18
	Year ended 9/30/2008		20.03		.71		(1.04	)		(.33	)		(.90	)		(.06	)		(.96	)		18.74		(1.81	)		105		1.81			1.63			3.55
	Year ended 9/30/2007		18.81		.69		1.04			1.73			(.51	)		-			(.51	)		20.03		9.34			65		1.96			1.67			3.58
	Year ended 9/30/2006		19.23		.64		(.23	)		.41			(.61	)		(.22	)		(.83	)		18.81		2.26			41		2.18			1.70			3.42
Class R-3:	Six months ended 3/31/2011(5)		21.00		.31		(.36	)		(.05	)		(.42	)		-			(.42	)		20.53		(.20	)		196		1.21⁽⁶⁾			1.21⁽⁶⁾			3.02⁽⁶⁾
	Year ended 9/30/2010		20.25		.64		.80			1.44			(.69	)		-			(.69	)		21.00		7.28			186		1.22			1.22			3.17
	Year ended 9/30/2009		18.85		.67		1.63			2.30			(.90	)		-			(.90	)		20.25		12.67			144		1.25			1.24			3.61
	Year ended 9/30/2008		20.13		.80		(1.04	)		(.24	)		(.98	)		(.06	)		(1.04	)		18.85		(1.33	)		122		1.24			1.19			3.98
	Year ended 9/30/2007		18.90		.77		1.04			1.81			(.58	)		-			(.58	)		20.13		9.74			73		1.31			1.26			4.00
	Year ended 9/30/2006		19.32		.71		(.23	)		.48			(.68	)		(.22	)		(.90	)		18.90		2.68			41		1.32			1.27			3.82
Class R-4:	Six months ended 3/31/2011(5)		21.02		.35		(.36	)		(.01	)		(.46	)		-			(.46	)		20.55		(.03	)		113		.88⁽⁶⁾			.88⁽⁶⁾			3.35⁽⁶⁾
	Year ended 9/30/2010		20.26		.71		.80			1.51			(.75	)		-			(.75	)		21.02		7.68			114		.89			.89			3.51
	Year ended 9/30/2009		18.88		.74		1.63			2.37			(.99	)		-			(.99	)		20.26		13.04			94		.91			.90			3.95
	Year ended 9/30/2008		20.16		.86		(1.03	)		(.17	)		(1.05	)		(.06	)		(1.11	)		18.88		(1.01	)		71		.91			.86			4.31
	Year ended 9/30/2007		18.92		.84		1.04			1.88			(.64	)		-			(.64	)		20.16		10.08			32		.98			.93			4.34
	Year ended 9/30/2006		19.34		.78		(.24	)		.54			(.74	)		(.22	)		(.96	)		18.92		3.04			17		.99			.94			4.17
Class R-5:	Six months ended 3/31/2011(5)		21.04		.38		(.35	)		.03			(.49	)		-			(.49	)		20.58		.16			145		.59⁽⁶⁾			.59⁽⁶⁾			3.64⁽⁶⁾
	Year ended 9/30/2010		20.29		.77		.79			1.56			(.81	)		-			(.81	)		21.04		7.93			146		.59			.59			3.80
	Year ended 9/30/2009		18.91		.79		1.64			2.43			(1.05	)		-			(1.05	)		20.29		13.40			110		.61			.60			4.31
	Year ended 9/30/2008		20.19		.93		(1.04	)		(.11	)		(1.11	)		(.06	)		(1.17	)		18.91		(.71	)		215		.61			.56			4.62
	Year ended 9/30/2007		18.95		.90		1.03			1.93			(.69	)		-			(.69	)		20.19		10.43			115		.67			.62			4.65
	Year ended 9/30/2006		19.35		.83		(.22	)		.61			(.79	)		(.22	)		(1.01	)		18.95		3.36			62		.69			.64			4.46
Class R-6:	Six months ended 3/31/2011(5)		21.03		.38		(.35	)		.03			(.49	)		-			(.49	)		20.57		.14			258		.54⁽⁶⁾			.54⁽⁶⁾			3.70⁽⁶⁾
	Year ended 9/30/2010		20.28		.78		.79			1.57			(.82	)		-			(.82	)		21.03		8.04			218		.54			.54			3.85
	Period from 5/1/2009 to 9/30/2009		18.28		.33		2.06			2.39			(.39	)		-			(.39	)		20.28		13.16			129		.24			.24			1.71

	Six months ended March 31,			Year ended September 30
	2011(5)			2010			2009			2008			2007			2006
Portfolio turnover rate for all share classes		51	%		80	%		106	%		87	%		76	%		91	%

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

(2)Based on average shares outstanding.

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

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

(5)Unaudited.

(6)Annualized.

See Notes to Financial Statements

Expense example                                                                                                                                                

     unaudited

As a shareholder of the fund, you incur two types of costs: (1) transaction costs, such as initial sales charges on purchase payments and contingent deferred sales charges on redemptions (loads), and (2) ongoing costs, including management fees, distribution and service (12b-1) fees, and other expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the fund so you can compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the entire six-month period (October 1, 2010, through March 31, 2011).

Actual expenses:

The first line of each share class in the table on the next page provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled "Expenses paid during period" to estimate the expenses you paid on your account during this period.

Hypothetical example for comparison purposes:

The second line of each share class in the table on the next page provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio for the share class and an assumed rate of return of 5.00% per year before expenses, which is not the actual return of the share class. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the fund and other funds. To do so, compare this 5.00% hypothetical example with the 5.00% hypothetical examples that appear in the shareholder reports of the other funds.

Notes:

There are some account fees that are charged to certain types of accounts, such as individual retirement accounts and 529 college savings plan accounts (generally, a $10 fee is charged to set up the account and an additional $10 fee is charged to the account annually), that would increase the amount of expenses paid on your account. In addition, retirement plan participants may be subject to certain fees charged by the plan sponsor, and Class F-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 are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads). Therefore, the second line of each share class in the table is useful in comparing ongoing costs only and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

	Beginning account value 10/1/2010		Ending account value 3/31/2011		Expenses paid during period*		Annualized expense ratio
Class A -- actual return	$	1,000.00	$	999.71	$	4.34		.87	%
Class A -- assumed 5% return		1,000.00		1,020.59		4.38		.87
Class B -- actual return		1,000.00		996.13		8.16		1.64
Class B -- assumed 5% return		1,000.00		1,016.75		8.25		1.64
Class C -- actual return		1,000.00		995.65		8.31		1.67
Class C -- assumed 5% return		1,000.00		1,016.60		8.40		1.67
Class F-1 -- actual return		1,000.00		1,000.06		4.44		.89
Class F-1 -- assumed 5% return		1,000.00		1,020.49		4.48		.89
Class F-2 -- actual return		1,000.00		1,000.91		3.14		.63
Class F-2 -- assumed 5% return		1,000.00		1,021.79		3.18		.63
Class 529-A -- actual return		1,000.00		999.48		4.59		.92
Class 529-A -- assumed 5% return		1,000.00		1,020.34		4.63		.92
Class 529-B -- actual return		1,000.00		995.69		8.61		1.73
Class 529-B -- assumed 5% return		1,000.00		1,016.31		8.70		1.73
Class 529-C -- actual return		1,000.00		995.55		8.56		1.72
Class 529-C -- assumed 5% return		1,000.00		1,016.36		8.65		1.72
Class 529-E -- actual return		1,000.00		998.02		6.08		1.22
Class 529-E -- assumed 5% return		1,000.00		1,018.85		6.14		1.22
Class 529-F-1 -- actual return		1,000.00		1,000.50		3.59		.72
Class 529-F-1 -- assumed 5% return		1,000.00		1,021.34		3.63		.72
Class R-1 -- actual return		1,000.00		995.70		8.26		1.66
Class R-1 -- assumed 5% return		1,000.00		1,016.65		8.35		1.66
Class R-2 -- actual return		1,000.00		995.82		8.21		1.65
Class R-2 -- assumed 5% return		1,000.00		1,016.70		8.30		1.65
Class R-3 -- actual return		1,000.00		998.05		6.03		1.21
Class R-3 -- assumed 5% return		1,000.00		1,018.90		6.09		1.21
Class R-4 -- actual return		1,000.00		999.65		4.39		.88
Class R-4 -- assumed 5% return		1,000.00		1,020.54		4.43		.88
Class R-5 -- actual return		1,000.00		1,001.61		2.94		.59
Class R-5 -- assumed 5% return		1,000.00		1,021.99		2.97		.59
Class R-6 -- actual return		1,000.00		1,001.41		2.69		.54
Class R-6 -- assumed 5% return		1,000.00		1,022.24		2.72		.54
*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).

Approval of Investment Advisory and Service Agreement

The fund’s board has approved the fund’s Investment Advisory and Service Agreement (the “agreement”) with Capital Research and Management Company (“CRMC”) for an additional one-year term through March 31, 2012. The agreement was amended to add an additional advisory fee breakpoint if and when the fund’s net assets exceed $15 billion. The board approved the agreement following the recommendation of the fund’s Contracts Committee (the “committee”), which is composed of all of the fund’s independent board members. The board and the committee determined that the fund’s advisory fee structure was fair and reasonable in relation to the services provided and that approving the agreement was in the best interests of the fund and its shareholders.

In reaching this decision, the board and the committee took into account information furnished to them throughout the year, as well as information prepared specifically in connection with their review of the agreement and were advised by their independent counsel. They considered the factors discussed below, among others, but did not identify any single issue or particular piece of information that, in isolation, was the controlling factor.

1. Nature, extent and quality of services

The board and the committee considered the depth and quality of CRMC’s investment management process, including its global research capabilities; the experience, capability and integrity of its senior management and other personnel; the low turnover rates of its key personnel; the overall financial strength and stability of its organization; and the ongoing evolution of CRMC’s organizational structure designed to maintain and strengthen these qualities. The board and the committee also considered the nature, extent and quality of administrative, compliance and shareholder services provided by CRMC to the fund under the agreement and other agreements as well as the benefits to fund shareholders from investing in a fund that is part of a large family of funds. The board and the committee concluded that the nature, extent and quality of the services provided by CRMC have benefited and should continue to benefit the fund and its shareholders.

2. Investment results

The board and the committee considered the investment results of the fund in light of its objective of providing over the long term a high level of total return consistent with prudent investment management. They compared the fund’s total returns with those of other relevant funds (including the other funds that are the basis of the Lipper index for the category in which the fund is included) and market data such as relevant market indices, in each case as available at the time of the related board and committee meetings. This report, including the letter to shareholders and related disclosures, contains certain information about the fund’s investment results. The board and the committee concluded that the fund’s long-term results have been satisfactory and that CRMC’s record in managing the fund indicated that its continued management should benefit the fund and its shareholders.

3. Advisory fees and total expenses

The board and the committee compared the advisory fees and total expense levels of the fund to those of other relevant funds. They observed that the fund’s advisory fees and expenses remain significantly below those of most other relevant funds. The board and the committee also noted the breakpoint discounts in the fund’s advisory fee structure that reduce the level of fees charged by CRMC to the fund as fund assets increase. In addition, they reviewed information regarding the advisory fees paid by clients of an affiliate of CRMC. They noted that, to the extent there were differences between the advisory fees paid by the fund and the advisory fees paid by those clients, the differences appropriately reflected the investment, operational and regulatory differences between advising the fund and the other clients. The board and the committee concluded that the fund’s cost structure was fair and reasonable in relation to the services provided, and that the shareholders receive reasonable value in return for the advisory fees and other amounts paid to CRMC by the fund.

4. Ancillary benefits

The board and the committee considered a variety of other benefits received by CRMC and its affiliates as a result of CRMC’s relationship with the fund and the other American Funds, including fees for administrative services provided to certain share classes; fees paid to CRMC’s affiliated transfer agent; sales charges and distribution fees received and retained by the fund’s principal underwriter, an affiliate of CRMC; and possible ancillary benefits to CRMC’s institutional management affiliates. The board and the committee reviewed CRMC’s portfolio trading practices, noting that while CRMC receives the benefit of research provided by broker-dealers executing portfolio transactions on behalf of the fund, it does not obtain third-party research or other services in return for allocating brokerage to such broker-dealers. The board and the committee took these ancillary benefits into account in evaluating the reasonableness of the advisory fees and other amounts paid to CRMC by the fund.

5. Adviser financial information

The board and the committee reviewed information regarding CRMC’s costs of providing services to the American Funds, including personnel, systems and resources of investment, compliance, trading, accounting and other administrative operations. They considered CRMC’s costs and willingness to invest in technology, infrastructure and staff to maintain and expand services and capabilities, respond to industry and regulatory developments and attract and retain qualified personnel. They noted information regarding the compensation structure for CRMC’s investment professionals. The board and the committee also compared CRMC’s profitability to the reported results of several large, publicly held investment management companies. The board and the committee noted the competitiveness and cyclicality of both the mutual fund industry and the capital markets, and the importance in that environment of CRMC’s long-term profitability for maintaining its independence, company culture and management continuity. They further considered the breakpoint discounts in the fund’s advisory fee structure and the termination of CRMC’s 10% advisory fee waiver effective December 31, 2008. The board and the committee concluded that the fund’s advisory fee structure reflected a reasonable sharing of benefits between CRMC and the fund’s shareholders.

Other share class results

unaudited

Classes B, C, F and 529

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

Average annual total returns							10 years1/
for periods ended March 31, 2011:	1 year			5 years			Life of class
Class B shares2
Reflecting applicable contingent deferred sales charge
(CDSC), maximum of 5%, payable only if shares
are sold within six years of purchase		0.44	%		5.51	%		7.27	%
Not reflecting CDSC		5.44			5.83			7.27
Class C shares
Reflecting CDSC, maximum of 1%, payable only if
shares are sold within one year of purchase		4.43			5.79			7.03
Not reflecting CDSC		5.43			5.79			7.03
Class F-1 shares3
Not reflecting annual asset-based fee charged by
sponsoring firm		6.26			6.65			7.89
Class F-2 shares3 — first sold 8/1/08
Not reflecting annual asset-based fee charged by
sponsoring firm		6.57			—			5.53
Class 529-A shares4 — first sold 2/15/02
Reflecting 3.75% maximum sales charge		2.23			5.77			7.89
Not reflecting maximum sales charge		6.24			6.59			8.34
Class 529-B shares2,4 — first sold 2/25/02
Reflecting applicable CDSC, maximum of 5%, payable
only if shares are sold within six years of purchase		0.33			5.39			7.57
Not reflecting CDSC		5.33			5.71			7.57
Class 529-C shares4 — first sold 2/28/02
Reflecting CDSC, maximum of 1%, payable only if
shares are sold within one year of purchase		4.35			5.73			7.48
Not reflecting CDSC		5.35			5.73			7.48
Class 529-E shares3,4 — first sold 5/16/02		5.91			6.26			7.85
Class 529-F-1 shares3,4 — first sold 9/17/02
Not reflecting annual asset-based fee charged by
sponsoring firm		6.43			6.80			8.02

1Applicable to Classes B, C and F-1 shares only. All other share classes reflect results for the life of the class.

2These shares are not available for purchase.

3These shares are sold without any initial or contingent deferred sales charge.

4Results shown do not reflect the $10 account setup fee and an annual $10 account maintenance fee.

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. The fund’s investment adviser waived a portion of its management fees from September 1, 2004, through December 31, 2008. Applicable fund results shown reflect the waiver, without which they would have been lower. See the Financial Highlights table on pages 28 to 33 for details that include expense ratios for all share classes.

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

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

Bingham McCutchen LLP

355 South Grand Avenue, Suite 4400

Los Angeles, CA 90071-3106

Independent registered public accounting firm

Deloitte & Touche LLP

695 Town Center Drive, Suite 1200

Costa Mesa, CA 92626-7188

Principal underwriter

American Funds Distributors, Inc.

333 South Hope Street

Los Angeles, CA 90071-1406

Investors should carefully consider the investment objectives, risks, charges and expenses of the American Funds. This and other important information is contained in the fund’s prospectus 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 800/421-0180 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 March 31, 2011, portfolio of Capital World Bond Fund’s investments is available free of charge by calling AFS or visiting the SEC website (where it is part of Form N-CSR).

Capital World Bond 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 Capital World Bond 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 June 30, 2011, this report must be accompanied by an American Funds statistical update for the most recently completed calendar quarter.

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What makes American Funds different?

For 80 years, we have followed a consistent philosophy to benefit our investors. Our 33 carefully conceived, broadly diversified funds, in addition to the target date retirement series, offer opportunities that have attracted over 50 million shareholder accounts.

Our unique combination of strengths includes these five factors:

•A long-term, value-oriented approach

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

•An extensive global research effort

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

•The multiple portfolio counselor system

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

•Experienced investment professionals

American Funds portfolio counselors have an average of 27 years of investment experience, providing a depth of knowledge and broad perspective that few organizations have.

•A commitment to low management fees

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

American Funds span a range of investment objectives

•Growth funds

AMCAP Fund®

EuroPacific Growth Fund®

The Growth Fund of America®

The New Economy Fund®

New Perspective Fund®

New World Fund®

SMALLCAP World Fund®

•Growth-and-income funds

American Mutual Fund®

Capital World Growth and Income FundSM

Fundamental InvestorsSM

International Growth and Income FundSM

The Investment Company of America®

Washington Mutual Investors FundSM

•Equity-income funds

Capital Income Builder®

The Income Fund of America®

•Balanced funds

American Balanced Fund®

American Funds Global Balanced FundSM

•Bond funds

American Funds Mortgage FundSM

American High-Income TrustSM

The Bond Fund of AmericaSM

>Capital World Bond Fund®

Intermediate Bond Fund of America®

Short-Term Bond Fund of AmericaSM

U.S. Government Securities FundSM

•Tax-exempt bond funds

American Funds Short-Term Tax-Exempt Bond FundSM

American High-Income Municipal Bond Fund®

Limited Term Tax-Exempt Bond Fund of AmericaSM

The Tax-Exempt Bond Fund of America®

State-specific tax-exempt funds

American Funds Tax-Exempt Fund of New YorkSM

The Tax-Exempt Fund of California®

The Tax-Exempt Fund of Maryland®

The Tax-Exempt Fund of Virginia®

•Money market fund

American Funds Money Market Fund®

•American Funds Target Date Retirement Series®

The Capital Group Companies

American FundsCapital Research and ManagementCapital InternationalCapital GuardianCapital Bank and Trust

Lit. No. MFGESR-931-0511P

Litho in USA WG/ALD/8098-S26151

Printed on paper containing 10% post-consumer waste

Printed with inks containing soy and/or vegetable oil

ITEM 2 – Code of Ethics

Not applicable for filing of semi-annual reports to shareholders.

ITEM 3 – Audit Committee Financial Expert

Not applicable for filing of semi-annual reports to shareholders.

ITEM 4 – Principal Accountant Fees and Services

Not applicable for filing of semi-annual reports to shareholders.

ITEM 5 – Audit Committee of Listed Registrants

Not applicable to this Registrant, insofar as the Registrant is not a listed issuer as defined in Rule 10A-3 under the Securities Exchange Act of 1934.

ITEM 6 – Schedule of Investments

Capital World Bond Fund®

Investment portfolio

March 31, 2011

unaudited

Bonds & notes — 94.29%		Principal amount (000)			Value (000)
EUROS — 19.24%
German Government, Series 3, 3.75% 2013		€	8,670		US$ 12,795
German Government 4.25% 2014			4,610			6,952
German Government, Series 5, 3.25% 2015			4,750			6,942
German Government 1.50% 20161			11,613			17,710
German Government, Series 6, 4.00% 2016			2,410			3,623
German Government, Series 6, 3.75% 2017			5,675			8,425
German Government 4.25% 2017			17,250			26,253
German Government, Series 7, 4.00% 2018			105,100			157,728
German Government, Series 8, 4.25% 2018			115,540			175,991
German Government 3.50% 2019			4,000			5,785
German Government 3.75% 2019			76,965			113,451
German Government 1.75% 20201			11,733			17,823
German Government, Series 9, 3.25% 2020			111,415			157,862
German Government 6.25% 2024			38,396			69,003
German Government 6.25% 2030			8,090			15,116
German Government, Series 00, 5.50% 2031			16,275			28,120
German Government 4.00% 2037			2,500			3,615
German Government, Series 8, 4.75% 2040			2,150			3,536
Italian Government 1.85% 20121			8,772			12,830
Italian Government 3.75% 2013			10,000			14,374
Italian Government 2.15% 20141			8,962			13,105
Italian Government 4.25% 2014			16,000			23,245
Italian Government 3.00% 2015			17,375			23,747
Italian Government 3.00% 2015			8,680			11,980
Italian Government 2.10% 20171			9,675			13,761
Italian Government 4.50% 2019			50,550			71,799
Italian Government 5.00% 2040			4,525			5,879
Deutsche Genossenschaftsbank-Hypothekenbank AG, Series 944, 4.50% 20132			25,500			37,587
Deutsche Genossenschaftsbank-Hypothekenbank AG, Series 1043, 4.00% 20162			60,700			88,709
Netherlands Government Eurobond 4.25% 2013			7,770			11,573
Netherlands Government Eurobond 4.50% 2017			31,235			47,637
Netherlands Government Eurobond 4.00% 2018			6,535			9,669
Netherlands Government Eurobond 4.00% 2019			20,000			29,581
French Government B.T.A.N. Eurobond 4.50% 2013			33,000			49,258
French Government O.A.T. Eurobond 4.00% 2018			32,865			48,504
Irish Government 5.00% 2013			8,000			10,304
Irish Government 4.00% 2014			19,590			23,840
Irish Government 4.40% 2019			7,790			7,705
Irish Government 5.90% 2019			10,000			10,854
Irish Government 5.00% 2020			35,395			35,084
Spanish Government 3.30% 2014			8,560			11,989
Spanish Government 4.30% 2019			34,800			47,267
Spanish Government 4.70% 2041			10,025			11,696
Dexia Municipal Agency 4.50% 20172			35,000			50,233
Barclays Bank PLC 4.00% 20192			17,900			24,889
Barclays Bank PLC 4.50% 20193			2,000			2,769
Barclays Bank PLC 6.00% 2021			8,975			12,377
Royal Bank of Scotland PLC 6.00% 2013			960			1,398
Royal Bank of Scotland PLC 6.934% 2018			25,405			35,371
PLD International Finance LLC 4.375% 2011			21,400			30,404
Standard Chartered Bank 5.875% 2017			17,750			26,097
Munich Re Finance BV 6.75% 20233			12,650			19,138
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft 5.767% (undated)3			3,800			5,049
Banco Santander Central Hispano SA 3.125% 20152			8,200			10,968
Banco Santander SA 4.625% 20162			8,200			11,663
Veolia Environnement 4.375% 2017			5,200			7,563
Veolia Environnement 6.125% 2033			7,915			12,043
HSBC Holdings PLC, Series 11, 6.25% 2018			3,250			4,941
HSBC Holdings PLC 6.00% 2019			9,100			13,603
Schering-Plough Corp. 5.375% 2014			11,655			17,739
KfW 4.375% 2013			11,875			17,656
Volvo Treasury AB 5.00% 2017			11,940			17,561
WT Finance (Australia) Pty Ltd., Westfield Europe Finance PLC, and WEA Finance LLC 3.625% 2012			12,060			17,267
NGG Finance PLC 6.125% 2011			2,000			2,883
National Grid Transco PLC 5.00% 2018			3,275			4,841
National Grid Transco PLC 4.375% 2020			6,000			8,381
Zurich Finance (USA), Inc., Series 6, 5.75% 20233			9,875			14,570
Zurich Finance (USA), Inc., Series 9, 4.50% 20253			750			1,064
Standard Life PLC 6.375% 20223			10,410			15,075
Abu Dhabi National Energy Co. PJSC (TAQA) 4.375% 2013			10,500			15,035
Koninklijke KPN NV 3.75% 2020			11,025			14,691
Gazprom OJSC 5.875% 2015			7,500			11,413
Gazprom OJSC 5.875% 2015			2,000			3,043
Northern Rock PLC, Series 7, 4.125% 20172			10,350			13,895
CRH Finance BV 7.375% 20143			8,880			13,872
France Télécom 5.625% 2018			8,050			12,549
AT&T Inc. 6.125% 2015			7,500			11,670
Siemens AG 5.125% 2017			7,500			11,432
Iberdrola Finanzas, SAU 7.50% 2015			7,000			11,295
Merrill Lynch & Co., Inc. 4.625% 2018			8,225			10,819
Société Générale 9.375% (undated)3			6,850			10,689
Assicurazioni Generali SpA. 6.90% 20223			7,265			10,651
Anheuser-Busch InBev NV 8.625% 2017			5,730			10,123
Canadian Government 3.50% 2020			7,000			10,063
RCI Banque 4.375% 2015			6,975			9,934
Bouygues SA 4.375% 2014			5,945			8,763
Finland (Republic of) 3.875% 2017			5,890			8,675
Wal-Mart Stores, Inc. 4.875% 2029			6,000			8,547
Metro Finance BV 4.625% 2011			5,980			8,512
Aviva PLC 5.75% 20213			1,000			1,431
Aviva PLC 5.70% (undated)3			5,310			6,923
European Investment Bank 4.25% 2014			5,475			8,180
Bank Nederlandse Gemeenten 3.75% 2014			5,560			8,128
Telecom Italia SpA 7.75% 2033			5,090			7,761
Daimler AG, Series 6, 4.125% 2017			5,000			7,190
UBS AG 6.00% 2018			4,500			7,029
BNP Paribas 5.431% 2017			4,430			6,546
Telefónica Emisiones, SAU 4.375% 2016			4,465			6,415
Skandinaviska Enskilda 5.50% 2014			4,000			5,989
FCE Bank PLC 7.125% 2013			4,000			5,966
BMW Group 3.875% 2017			3,750			5,346
Scottish and Southern Energy PLC 6.125% 2013			3,500			5,330
Imperial Tobacco Finance PLC 8.375% 2016			2,775			4,656
Rodamco Europe Finance BV, Series 5, 3.75% 2012			3,030			4,386
Greek Government 6.00% 2019			4,655			4,236
Centrica plc 7.125% 2013			2,500			3,920
Roche Holdings, Inc. 5.625% 2016			2,500			3,890
GlaxoSmithKline Capital PLC 5.125% 2012			2,500			3,709
Novartis Finance SA, 4.25% 2016			2,500			3,695
Croatian Government 6.50% 2015			2,250			3,356
Anglian Water Services Financing PLC 4.625% 2013			2,250			3,326
HBOS PLC 4.375% 20193			885			1,145
Lloyds TSB Bank PLC 6.50% 2020			1,500			2,027
Delhaize Group 5.625% 2014			2,000			3,032
E.ON International Finance BV 5.125% 2012			1,955			2,890
Bulgaria (Republic of) 7.50% 2013			1,638			2,501
Bulgaria (Republic of) 7.50% 2013			250			382
Banque Centrale de Tunisie 4.75% 2011			600			852
Banque Centrale de Tunisie 6.25% 2013			1,350			1,970
Allied Irish Banks, PLC 12.50% 2019			7,750			2,636
Ardagh Packaging Finance 9.25% 2020			1,650			2,452
NXP BV and NXP Funding LLC 8.625% 2015			1,300			1,944
ENEL SpA 5.625% 2027			1,250			1,793
Wind Acquisition SA 7.375% 2018			925			1,367
Nara Cable Funding Ltd. 8.875% 2018			450			657
UniCredito Italiano SpA, Series 172, 4.125% 20163			460			652
Bank of Ireland 10.00% 2020			755			578
Rockwood Specialties Group, Inc. 7.625% 2014			90			131
						2,248,338
JAPANESE YEN — 6.45%
Japanese Government, Series 238, 1.40% 2012		¥	970,000			11,800
Japanese Government, Series 248, 0.70% 2013			8,425,100			102,280
Japanese Government, Class 4, 0.50% 20151			429,570			5,115
Japanese Government, Series 269, 1.30% 2015			25,468,400			316,986
Japanese Government, Series 284, 1.70% 2016			2,708,700			34,587
Japanese Government, Series 281, 2.00% 2016			2,465,000			31,925
Japanese Government, Series 14, 1.20% 20171			4,213,820			51,318
Japanese Government, Series 12, 1.20% 20171			990,025			12,039
Japanese Government, Series 288, 1.70% 2017			795,000			10,158
Japanese Government, Series 296, 1.50% 2018			3,781,850			47,552
Japanese Government, Series 310, 1.00% 2020			4,170,050			49,371
Japanese Government, Series 21, 2.30% 2035			3,825,000			47,387
Japanese Government 2.40% 2038			1,218,950			15,350
European Investment Bank 1.40% 2017			721,700			9,104
KfW 1.35% 2014			716,000			8,858
						753,830
SOUTH KOREAN WON — 4.04%
South Korean Government, Series 1303, 5.25% 2013		KRW91,566,430				86,003
South Korean Government, Series 1309, 5.75% 2013			55,000,000			52,541
South Korean Government 4.25% 2014			41,330,000			37,982
South Korean Government 4.75% 2014			46,600,000			43,454
South Korean Government 5.00% 2014			79,326,500			74,621
South Korean Government, Series 1503, 4.50% 2015			10,349,000			9,635
South Korean Government 5.25% 2015			67,301,860			64,501
South Korean Government 5.50% 2017			60,243,100			58,848
South Korean Government 5.75% 2018			45,000,000			44,604
						472,189
POLISH ZLOTY — 3.97%
Polish Government, Series 1013, 5.00% 2013		PLN 58,200			US$ 20,436
Polish Government, Series 0414, 5.75% 2014			742,150			264,650
Polish Government, Series 1017, 5.25% 2017			527,320			178,761
						463,847
MALAYSIAN RINGGITS — 3.56%
Malaysian Government, Series 509, 3.21% 2013		MYR176,250				58,191
Malaysian Government, Series 3/03, 3.702% 2013			73,870			24,638
Malaysian Government, Series 204, 5.094% 2014			270,215			93,592
Malaysian Government, Series 0409, 3.741% 2015			103,500			34,464
Malaysian Government, Series 0110, 3.835% 2015			277,425			92,599
Malaysian Government, Series 0207, 3.814% 2017			159,605			52,903
Malaysian Government, Series 0210, 4.012% 2017			142,845			47,679
Malaysian Government, Series 2/03, 4.24% 2018			35,000			11,806
						415,872
BRITISH POUNDS — 3.04%
United Kingdom 3.25% 2011		£	9,750			15,910
United Kingdom 4.50% 2013			10,280			17,483
United Kingdom 2.50% 20131			5,929			10,721
United Kingdom 2.50% 20161			13,026			24,299
United Kingdom 3.75% 2019			18,345			29,907
United Kingdom 4.50% 2019			3,500			6,029
United Kingdom 3.75% 2020			10,100			16,297
United Kingdom 4.75% 2020			15,140			26,430
United Kingdom 2.50% 20201			7,134			14,018
United Kingdom 6.00% 2028			3,560			6,990
United Kingdom 4.75% 2030			14,870			25,245
United Kingdom 4.125% 20301			6,620			17,337
United Kingdom 0.66% 20401			11,145			17,431
United Kingdom 4.25% 2040			9,270			14,637
United Kingdom 4.25% 2046			10,940			17,395
RSA Insurance Group PLC 9.375% 20393			1,733			3,296
RSA Insurance Group PLC 8.50% (undated)3			8,760			14,966
Telecom Italia SpA and Telecom Italia Finance SA, Series 9, 5.625% 2015			10,100			16,607
CRH Group Funding LTD and CRH Finance (U.K.) PLC 8.25% 2015			8,000			14,618
France Télécom 5.00% 2016			7,725			13,076
Virgin Media Secured Finance PLC 5.50% 2021			4,000			6,376
HSBC Holdings PLC 6.375% 20223			2,750			4,683
HSBC Bank PLC 6.50% 2023			1,000			1,675
Holcim Ltd 8.75% 2017			2,500			4,850
Generali Finance BV 6.214% (undated)3			3,200			4,569
Tesco PLC 5.50% 2033			2,640			4,256
SLM Student Loan Trust, Series 2003-10, Class A-4, 5.15% 20392,4			2,400			3,684
Wal-Mart Stores, Inc. 5.625% 2034			950			1,619
General Electric Capital Corp. 5.625% 2031			750			1,182
						355,586
SWEDISH KRONOR — 2.81%
Swedish Government, Series 124, 4.00% 20122		SKr 172,000				27,499
Swedish Government, Series 1041, 6.75% 2014			22,080			3,903
Swedish Government 4.159% 20151			95,108			17,303
Swedish Government, Series 1049, 4.50% 2015			1,080,850			181,720
Swedish Government, Series 1047, 5.00% 2020			142,540			25,620
Swedish Government, Series 3104, 3.50% 20281			163,563			36,175
Nordea Hypotek AB 4.00% 20122			60,000			9,603
Nordea Hypotek AB 4.00% 20142			81,000			12,874
Stadshypotek AB 6.00% 20142			81,000			13,633
						328,330
MEXICAN PESOS — 1.79%
United Mexican States Government, Series M, 7.50% 2012		MXN 220,000			US$ 19,101
United Mexican States Government, Series MI10, 9.50% 2014			200,163			18,456
United Mexican States Government, Series M10, 8.00% 2015			75,000			6,579
United Mexican States Government, Series M10, 7.25% 2016			212,000			18,057
United Mexican States Government, Series M10, 7.75% 2017			1,100,400			95,724
United Mexican States Government, Series M20, 10.00% 2024			119,900			11,934
United Mexican States Government, Series M30, 10.00% 2036			281,000			27,407
United Mexican States Government 4.00% 20401			135,661			11,044
América Móvil, SAB de CV 8.46% 2036			15,000			1,101
						209,403
CANADIAN DOLLARS — 1.63%
Canadian Government 5.25% 2012		$	C 5,250			5,656
Canadian Government 2.00% 2014			62,180			63,362
Canadian Government 4.50% 2015			21,450			23,909
Canadian Government 4.25% 2018			2,000			2,228
Canadian Government 4.524% 20211			8,540			11,861
Canada Housing Trust 4.10% 2018			1,500			1,616
Canada Housing Trust 3.35% 2020			23,000			23,072
Province of Ontario, Series HC, 9.50% 2022			2,000			3,034
Province of Ontario 4.60% 2039			9,500			9,915
Province of Manitoba 4.25% 2018			8,500			9,152
Province De Québec 5.25% 2013			2,000			2,214
Province De Québec 9.375% 2023			2,000			3,020
Hydro One Inc. 5.49% 2040			4,000			4,350
Canadian Imperial Bank 5.00% 2012			4,000			4,294
Rogers Communications Inc. 5.80% 2016			3,500			3,920
Bank of Nova Scotia 5.04% 2013			2,000			2,171
Wells Fargo & Co. 6.05% 2012			2,000			2,168
Toronto-Dominion Bank 4.854% 2013			2,000			2,162
GE Capital Canada Funding Co., Series A, 5.29% 2012			2,000			2,149
Interprovincial Pipe Line Inc., Series K, 8.20% 2024			1,500			2,097
Thomson Reuters Corp. 5.70% 2015			1,750			1,976
Bank of Montreal 5.18% 2015			1,750			1,940
Royal Bank of Canada 5.20% 2012			1,750			1,883
TransCanada PipeLines Ltd. 5.05% 2014			1,250			1,367
Province of New Brunswick 6.75% 2017			750			916
						190,432
TURKISH LIRAS — 1.43%
Turkey (Republic of) 10.00% 20121		TRY107,944				75,376
Turkey (Republic of) 16.00% 2012			13,000			9,019
Turkey (Republic of) 10.00% 2013			50,500			33,377
Turkey (Republic of) 16.00% 2013			8,700			6,497
Turkey (Republic of) 11.00% 2014			19,500			13,387
Turkey (Republic of) 10.00% 2015			44,045			29,366
						167,022
ISRAELI SHEKELS — 1.40%
Israeli Government 4.50% 2015		ILS 38,350				11,027
Israeli Government 5.00% 20151			27,216			8,916
Israeli Government, Series 2683, 6.50% 2016			40,300			12,471
Israeli Government 5.50% 2017			282,395			83,530
Israeli Government, Series 12, 5.00% 2020			168,000			47,415
						163,359
HUNGARIAN FORINTS — 0.93%
Hungarian Government, Series 14/C, 5.50% 2014		HUF6,789,100			US$ 35,377
Hungarian Government, Series 15/A, 8.00% 2015			3,304,020			18,396
Hungarian Government, Series 17/B, 6.75% 2017			7,252,900			38,242
Hungarian Government, Series 17/A, 6.75% 2017			2,128,500			11,173
Hungarian Government, Series 19/A, 6.50% 2019			1,000,000			5,129
						108,317
SINGAPORE DOLLARS — 0.81%
Singapore (Republic of) 3.75% 2016		$	S105,610			94,110
BRAZILIAN REAIS — 0.78%
Brazil (Federal Republic of) 10.00% 2012		BRL20,000				12,068
Brazil (Federal Republic of) 6.00% 20121			17,948			11,118
Brazil (Federal Republic of) 10.00% 2017			48,830			26,480
Brazil (Federal Republic of) 6.00% 20171			31,183			19,477
Brazil (Federal Republic of) Global 10.25% 2028			11,120			6,811
Brazil (Federal Republic of) 6.00% 20451			23,409			15,227
						91,181
NORWEGIAN KRONER — 0.73%
Norwegian Government 5.00% 2015		NKr250,000				48,136
Norwegian Government 4.25% 2017			177,950			33,511
KfW 5.00% 2015			22,500			4,217
						85,864
INDONESIAN RUPIAH — 0.73%
Indonesia (Republic of), Series 23, 11.00% 2012		IDR158,090,000				19,495
Indonesia (Republic of), Series 33, 12.50% 2013			65,372,000			8,305
Indonesia (Republic of), Series 20, 14.275% 2013			27,430,000			3,707
Indonesia (Republic of), Series 51, 11.25% 2014			16,490,000			2,108
Indonesia (Republic of), Series 55, 7.375% 2016			98,000,000			11,169
Indonesia (Republic of), Series 30, 10.75% 2016			309,007,000			40,076
						84,860
DANISH KRONER — 0.67%
Nykredit 4.00% 20352		DKr158,663				28,583
Nykredit, Series 3D, 5.00% 20382			133,239			25,424
Nykredit 4.00% 20412			36,000			6,304
Kingdom of Denmark 4.00% 2012			90,000			17,815
						78,126
PHILIPPINE PESOS — 0.59%
Philippines (Republic of), Series 5-67, 6.25% 2014		PHP 922,000				21,995
Philippines (Republic of), Series 1051, 6.125% 2020			215,940			4,735
Philippines (Republic of), Series 1050, 7.75% 2020			1,184,440			29,409
Philippines (Republic of) 4.95% 2021			114,000			2,582
Philippines (Republic of) 6.25% 2036			483,000			10,542
						69,263
SOUTH AFRICAN RAND — 0.52%
South Africa (Republic of), Series R-206, 7.50% 2014		ZAR122,460				18,309
South Africa (Republic of), Series R-203, 8.25% 2017			209,440			30,713
South Africa (Republic of), Series R-207, 7.25% 2020			90,000			12,189
						61,211
AUSTRALIAN DOLLARS — 0.50%
Queensland Treasury Corp., Series 15, 6.00% 2015		$	A20,139		US$ 21,306
Queensland Treasury Corp., Series 17, 6.00% 2017			18,937			19,943
New South Wales Treasury Corp., Series 14, 5.50% 2014			16,862			17,561
						58,810
COLOMBIAN PESOS — 0.47%
Colombia (Republic of) Global 12.00% 2015		COP60,580,000				41,453
Colombia (Republic of) Global 7.75% 2021			6,265,000			3,627
Colombia (Republic of) Global 9.85% 2027			15,821,000			10,231
						55,311
EGYPTIAN POUNDS — 0.38%
Egypt (Arab Republic of) 11.50% 2011		EGP 5,865				991
Egypt (Arab Republic of) 9.10% 2012			82,870			13,670
Egypt (Arab Republic of) 10.35% 2012			97,500			16,010
Egypt (Arab Republic of) 11.55% 2013			72,700			11,853
Egypt (Arab Republic of) 11.625% 2014			12,535			2,122
						44,646
THAI BAHT — 0.21%
Thai Government, Series 33, 5.375% 2011		THB 37,000				1,244
Thai Government 5.25% 2014			656,000			22,938
						24,182
ARGENTINE PESOS — 0.04%
Argentina (Republic of) GDP-Linked 2035		ARS37,877				1,549
Argentina (Republic of) 1.18% 20381,2			45,559			3,720
						5,269
RUSSIAN RUBLE — 0.04%
Russian Federation 7.85% 2018		RUB120,000				4,319
DOMINICAN PESOS — 0.03%
Cervecería Nacional Dominicana, C. por A. 16.00% 20124		DOP122,949				2,813
Cervecería Nacional Dominicana, C. por A. 16.00% 20124			37,704			862
						3,675
U.S. DOLLARS — 37.50%
U.S. Treasury 0.875% 2011		US$ 23,250				23,265
U.S. Treasury 4.625% 2011			30,000			30,980
U.S. Treasury 1.00% 2012			116,000			116,811
U.S. Treasury 1.00% 2012			48,735			49,063
U.S. Treasury 4.875% 20125			33,500			34,844
U.S. Treasury 1.125% 2013			20,190			20,291
U.S. Treasury 2.00% 2013			2,250			2,303
U.S. Treasury 1.875% 20131			35,966			38,953
U.S. Treasury 2.75% 2013			34,000			35,480
U.S. Treasury 3.125% 2013			9,000			9,465
U.S. Treasury 3.375% 2013			4,550			4,808
U.S. Treasury 3.625% 2013			4,200			4,446
U.S. Treasury 2.00% 20141			15,927			17,374
U.S. Treasury 1.875% 20151			28,244			31,124
U.S. Treasury 2.125% 2015			23,250			23,257
U.S. Treasury 2.125% 2016			1,500			1,495
U.S. Treasury 3.25% 2016			52,500			54,573
U.S. Treasury 5.125% 2016			42,250			48,145
U.S. Treasury 7.50% 2016			3,500			4,436
U.S. Treasury 2.375% 20171			25,604			28,886
U.S. Treasury 4.625% 2017			21,000			23,412
U.S. Treasury 8.875% 2017			27,250			37,243
U.S. Treasury 1.375% 20181			12,754			13,606
U.S. Treasury 1.625% 20181			5,413			5,864
U.S. Treasury 2.625% 2020			8,443			7,880
U.S. Treasury 8.750% 2020			20,990			30,144
U.S. Treasury 3.625% 2021			11,745			11,913
U.S. Treasury 2.00% 20261			16,241			17,383
U.S. Treasury 5.25% 2029			46,350			52,216
U.S. Treasury 3.375% 20321			819			1,058
U.S. Treasury 3.50% 2039			14,000			11,741
U.S. Treasury 4.25% 2039			5,920			5,680
U.S. Treasury 4.375% 2039			9,000			8,807
U.S. Treasury 2.125% 20401			3,097			3,287
U.S. Treasury 3.875% 2040			43,500			38,936
U.S. Treasury 4.625% 2040			52,000			53,036
U.S. Treasury 4.75% 2041			6,500			6,757
Fannie Mae 5.00% 20172			375			398
Fannie Mae 4.00% 20242			3,032			3,122
Fannie Mae 4.00% 20242			2,928			3,015
Fannie Mae 3.50% 20252			20,891			20,982
Fannie Mae 3.50% 20252			11,526			11,576
Fannie Mae 3.50% 20252			9,839			9,882
Fannie Mae 3.50% 20252			5,717			5,742
Fannie Mae 3.50% 20252			4,927			4,948
Fannie Mae 3.50% 20252			2,747			2,759
Fannie Mae 4.00% 20252			15,284			15,740
Fannie Mae 4.00% 20252			3,459			3,562
Fannie Mae 4.50% 20252			8,754			9,201
Fannie Mae, Series 2001-4, Class GA, 9.889% 20252,3			11			13
Fannie Mae 3.50% 20262			9,890			9,933
Fannie Mae 3.50% 20262			2,854			2,867
Fannie Mae 3.50% 20262			108			108
Fannie Mae 6.00% 20262			654			717
Fannie Mae 5.50% 20342			586			630
Fannie Mae 4.50% 20352			1,412			1,447
Fannie Mae, Series 2006-56, Class OG, principal only, 0% 20362			4,124			3,528
Fannie Mae 6.00% 20362			1,813			1,981
Fannie Mae 6.00% 20362			1,765			1,925
Fannie Mae, Series 2006-49, Class PA, 6.00% 20362			1,021			1,122
Fannie Mae 6.00% 20372			16,496			17,975
Fannie Mae 6.00% 20372			7,974			8,689
Fannie Mae 6.00% 20372			4,178			4,553
Fannie Mae 6.00% 20372			1,052			1,147
Fannie Mae 6.00% 20372			1,027			1,119
Fannie Mae 6.00% 20372			741			810
Fannie Mae 6.00% 20372			551			602
Fannie Mae 6.00% 20372			458			499
Fannie Mae 6.00% 20372			433			473
Fannie Mae 5.358% 20382,3			4,921			5,196
Fannie Mae 5.50% 20382			6,403			6,879
Fannie Mae 5.50% 20382			4,827			5,185
Fannie Mae 6.00% 20382			21,380			23,297
Fannie Mae 6.00% 20382			3,850			4,195
Fannie Mae 6.00% 20382			3,282			3,568
Fannie Mae 6.00% 20382			3,253			3,545
Fannie Mae 6.00% 20382			925			1,008
Fannie Mae 3.561% 20392,3			2,431			2,513
Fannie Mae 3.60% 20392,3			1,747			1,811
Fannie Mae 3.774% 20392,3			1,154			1,200
Fannie Mae 3.814% 20392,3			596			621
Fannie Mae 3.844% 20392,3			728			757
Fannie Mae 3.901% 20392,3			656			684
Fannie Mae 3.939% 20392,3			900			941
Fannie Mae 3.959% 20392,3			644			674
Fannie Mae 3.50% 20402			5,941			5,604
Fannie Mae 3.50% 20402			3,992			3,765
Fannie Mae 4.00% 20402			13,250			13,056
Fannie Mae 4.00% 20402			10,984			10,823
Fannie Mae 4.00% 20402			9,925			9,783
Fannie Mae 4.00% 20402			9,499			9,363
Fannie Mae 4.00% 20402			1,390			1,370
Fannie Mae 4.50% 20402			13,062			13,315
Fannie Mae 4.50% 20402			11,169			11,385
Fannie Mae 4.50% 20402			9,439			9,622
Fannie Mae 4.50% 20402			6,835			6,968
Fannie Mae 5.00% 20402			11,061			11,594
Fannie Mae 5.00% 20402			10,743			11,261
Fannie Mae 4.00% 20412			39,465			38,888
Fannie Mae 4.00% 20412			23,471			23,121
Fannie Mae 4.00% 20412			19,814			19,524
Fannie Mae 4.00% 20412			18,750			18,445
Fannie Mae 4.00% 20412			17,864			17,603
Fannie Mae 4.00% 20412			15,253			15,030
Fannie Mae 4.00% 20412			12,360			12,179
Fannie Mae 4.00% 20412			11,650			11,480
Fannie Mae 4.00% 20412			6,776			6,674
Fannie Mae 4.00% 20412			5,159			5,085
Fannie Mae 4.00% 20412			3,388			3,340
Fannie Mae 4.50% 20412			22,000			22,395
Fannie Mae 5.00% 20412			6,407			6,703
Fannie Mae 5.50% 20412			11,000			11,765
Fannie Mae 6.00% 20412			29,273			31,839
Fannie Mae 6.50% 20472			1,661			1,835
Fannie Mae 6.50% 20472			825			912
Fannie Mae 6.50% 20472			544			601
Fannie Mae 7.00% 20472			713			796
Fannie Mae 6.50% 20482			2,961			3,271
JPMorgan Chase & Co. 2.05% 2014			11,650			11,632
JPMorgan Chase & Co. 2.60% 2016			7,330			7,085
JPMorgan Chase & Co. 3.45% 2016			25,595			25,532
JPMorgan Chase & Co. 4.40% 2020			20,350			19,702
State of California, Various Purpose General Obligation Bonds (Federally Taxable), 6.20% 2019			18,700			19,932
State of California, Various Purpose General Obligation Bonds (Federally Taxable), 7.30% 2039			11,000			11,718
State of California, Various Purpose General Obligation Bonds (Federally Taxable), 7.60% 2040			9,765			10,741
State of California, Various Purpose General Obligation Bonds (Federally Taxable), 7.625% 2040			12,035			13,267
Freddie Mac 4.00% 20252			9,014			9,283
Freddie Mac, Series 3213, Class OG, principal only, 0% 20362			4,520			3,873
Freddie Mac, Series 3292, Class BO, principal only, 0% 20372			1,234			1,071
Freddie Mac 5.471% 20382,3			4,922			5,213
Freddie Mac 6.00% 20382			2,779			3,025
Freddie Mac 6.00% 20382			939			1,019
Freddie Mac 6.00% 20382			526			572
Freddie Mac 3.714% 20392,3			745			775
Freddie Mac 4.00% 20412			22,000			21,640
Freddie Mac 6.00% 20412			2,317			2,517
Hungarian Government 6.25% 2020			39,630			40,459
Hungarian Government 6.375% 2021			1,840			1,849
Hungarian Government 7.625% 2041			6,460			6,505
Croatian Government 6.75% 20194			21,100			22,138
Croatian Government 6.75% 2019			6,000			6,295
Croatian Government 6.625% 20204			7,095			7,335
Croatian Government 6.625% 2020			1,970			2,037
Croatian Government 6.375% 20214			8,680			8,707
Anheuser-Busch InBev NV 6.875% 2019			20,850			24,670
Anheuser-Busch InBev NV 7.75% 2019			9,595			11,823
Anheuser-Busch InBev NV 5.375% 2020			4,000			4,301
HSBC Bank PLC 2.00% 20144			8,000			7,980
HSBC Bank PLC 3.50% 20154			8,750			8,872
HSBC Finance Corp. 0.741% 20163			9,900			9,506
HSBC Holdings PLC 5.10% 2021			13,470			13,565
HBOS PLC 6.75% 20184			29,305			28,721
Lloyds TSB Bank PLC 6.375% 2021			475			496
HBOS PLC 6.00% 20334			8,185			6,176
Société Générale 2.50% 20144			6,500			6,454
France Government Agency-Guaranteed, Société Finance 2.875% 20144			6,070			6,261
Société Générale 3.50% 20164			9,000			8,892
Société Générale 5.75% 20164			11,920			12,418
Polish Government 6.375% 2019			30,080			33,622
Wells Fargo & Co. 3.676% 2016			9,400			9,467
Wells Fargo & Co. 4.60% 2021			24,060			23,840
Iberdrola Finance Ireland 3.80% 20144			5,760			5,852
Scottish Power PLC 5.375% 2015			12,700			13,352
Iberdrola Finance Ireland 5.00% 20194			10,750			10,476
Scottish Power PLC 5.81% 2025			2,500			2,348
ProLogis 7.625% 2014			8,000			9,160
ProLogis 6.25% 2017			3,324			3,606
ProLogis 6.625% 2018			3,180			3,449
ProLogis 7.375% 2019			9,065			10,283
ProLogis 6.875% 2020			5,000			5,480
Roche Holdings Inc. 5.00% 20144			1,905			2,076
Roche Holdings Inc. 6.00% 20194			22,270			25,283
Roche Holdings Inc. 7.00% 20394			3,040			3,692
Gazprom OJSC 5.092% 20154			4,675			4,903
Gazprom OJSC 9.25% 2019			11,010			13,748
Gazprom OJSC, Series 2, 8.625% 20344			1,195			1,486
Gazprom OJSC 7.288% 20374			5,900			6,401
Gazprom OJSC 7.288% 2037			4,030			4,373
UBS AG 2.25% 2014			3,400			3,409
UBS AG 3.875% 2015			500			513
UBS AG 5.875% 2017			9,875			10,798
UBS AG 5.75% 2018			7,895			8,518
UBS AG 4.875% 2020			6,690			6,758
Telecom Italia Capital SA 6.999% 2018			2,000			2,178
Telecom Italia Capital SA 7.175% 2019			2,840			3,109
Telecom Italia Capital SA 6.375% 2033			12,861			12,172
Telicom Italia Capital SA 6.00% 2034			4,949			4,492
Telecom Italia Capital SA 7.20% 2036			7,572			7,621
Abbey National Treasury Services PLC 3.875% 20144			12,750			12,745
Santander Issuances, SA Unipersonal 6.50% 20193,4			15,100			15,311
AXA SA 8.60% 2030			16,075			19,064
AXA SA 6.463% (undated)3,4			9,575			8,450
Turkey (Republic of) 7.00% 2019			3,500			3,973
Turkey (Republic of) 7.50% 2019			5,000			5,842
Turkey (Republic of) 5.625% 2021			7,160			7,339
Turkey (Republic of) 8.00% 2034			4,200			5,055
Turkey (Republic of) 6.75% 2040			4,500			4,691
BBVA Bancomer SA 4.50% 20164			12,000			12,085
BBVA Bancomer SA 7.25% 20204			3,465			3,507
BBVA Bancomer SA 6.50% 20214			11,125			11,049
CEMEX Finance LLC 9.50% 2016			9,925			10,744
CEMEX Finance LLC 9.50% 20164			2,200			2,381
CEMEX SA 9.25% 20204			12,799			13,327
Verizon Communications Inc. 3.75% 2011			6,870			6,899
Verizon Communications Inc. 5.50% 2017			1,750			1,932
Verizon Communications Inc. 4.60% 2021			12,775			12,746
Verizon Communications Inc. 6.00% 2041			4,500			4,498
South Africa (Republic of) 6.875% 2019			8,010			9,342
South Africa (Republic of) 5.50% 2020			10,150			10,797
South Africa (Republic of) 6.25% 2041			4,645			4,810
Volvo Treasury AB 5.95% 20154			22,305			24,544
Intesa Sanpaolo SpA 3.625% 20154			5,375			5,200
Intesa Sanpaolo SpA 6.50% 20214			17,925			18,845
Veolia Environnement 5.25% 2013			5,605			6,010
Veolia Environnement 6.00% 2018			15,075			16,790
Westfield Capital Corp. Ltd., WT Finance (Australia) Pty Ltd. and WEA Finance LLC 5.125% 20144			685			733
Westfield Group 7.50% 20144			1,645			1,884
Westfield Group 5.70% 20164			6,050			6,603
Westfield Group 7.125% 20184			10,510			12,205
Westfield Group 6.75% 20194			1,000			1,149
Volkswagen International Finance NV 1.625% 20134			8,100			8,136
Volkswagen International Finance NV 2.875% 20164			5,000			4,933
Volkswagen International Finance NV 4.00% 20204			8,950			8,793
Goldman Sachs Group, Inc. 3.625% 2016			4,500			4,462
Goldman Sachs Group, Inc. 7.50% 2019			10,000			11,633
Goldman Sachs Group, Inc. 5.375% 2020			4,470			4,547
Goldman Sachs Group, Inc. 6.25% 2041			1,160			1,159
Morgan Stanley, Series F, 5.75% 2021			20,910			21,144
Comcast Corp. 5.30% 2014			3,000			3,268
Comcast Corp. 5.875% 2018			5,220			5,763
Comcast Corp. 6.95% 2037			5,035			5,499
Comcast Corp. 6.40% 2038			1,750			1,788
Comcast Corp. 6.40% 2040			4,250			4,367
Williams Partners L.P. and Williams Partners Finance Corp. 3.80% 2015			2,805			2,906
Williams Partners L.P. 4.125% 2020			1,625			1,550
Williams Partners L.P. and Williams Partners Finance Corp. 5.25% 2020			15,340			16,031
Kimco Realty Corp. 6.00% 2012			1,000			1,067
Pan Pacific Retail Properties, Inc. 6.125% 2013			1,230			1,313
Kimco Realty Corp., Series C, 4.82% 2014			1,000			1,060
Kimco Realty Corp., Series C, 4.904% 2015			1,360			1,453
Kimco Realty Corp. 5.584% 2015			2,003			2,165
Kimco Realty Corp. 5.70% 2017			500			544
Kimco Realty Corp. 4.30% 2018			4,740			4,734
Kimco Realty Corp. 6.875% 2019			6,875			8,035
VEB Finance Ltd. 6.902% 20204			14,045			15,150
VEB Finance Ltd. 6.80% 20254			5,000			5,095
Simon Property Group, LP 6.75% 2014			4,025			4,501
Simon Property Group, LP 4.20% 2015			3,125			3,290
Simon Property Group, LP 5.25% 2016			3,990			4,344
Simon Property Group, LP 5.875% 2017			1,850			2,055
Simon Property Group, LP 10.35% 2019			4,250			5,867
E.ON International Finance BV 5.80% 20184			15,090			16,808
E.ON International Finance BV 6.65% 20384			2,500			2,885
Telefónica Emisiones, SAU 5.134% 2020			19,570			19,506
Citigroup Inc. 4.587% 2015			6,925			7,168
Citigroup Inc. 4.75% 2015			11,250			11,803
Bermudan Government 5.603% 20204			17,550			18,593
Enbridge Energy Partners, LP, Series B, 6.50% 2018			10,445			11,840
Enbridge Energy Partners, LP 9.875% 2019			3,250			4,254
Enbridge Energy Partners, LP 5.20% 2020			2,210			2,302
Standard Chartered PLC 3.85% 20154			8,330			8,533
Standard Chartered Bank 6.40% 20174			9,000			9,766
Ras Laffan Liquefied Natural Gas III 5.50% 20144			5,300			5,715
Ras Laffan Liquefied Natural Gas II 5.298% 20202,4			3,668			3,824
Ras Laffan Liquefied Natural Gas III 5.838% 20272,4			8,000			8,043
Deutsche Telekom International Finance BV 5.875% 2013			3,420			3,754
Deutsche Telekom International Finance BV 8.75% 20303			1,987			2,612
Deutsche Telekom International Finance BV 9.25% 2032			7,738			10,975
Ghana (Republic of) 8.50% 2017			15,500			17,282
Argentina (Republic of) 7.00% 2015			14,100			13,298
Argentina (Republic of) GDP-Linked 2035			21,000			3,496
CIT Group Inc., Series A, 7.00% 20132			1,868			1,907
CIT Group Inc., Series A, 7.00% 2014			1,000			1,021
CIT Group Inc., Series A, 7.00% 2015			8,475			8,570
CIT Group Inc., Series A, 7.00% 2016			4,200			4,216
CIT Group Inc., Series A, 7.00% 2017			1,000			1,004
Macy's Retail Holdings, Inc. 8.375% 20153			9,865			11,517
Federated Department Stores, Inc. 7.45% 2017			1,964			2,229
May Department Stores Co. 6.65% 2024			325			333
Federated Department Stores, Inc. 6.79% 2027			1,220			1,186
Federated Department Stores, Inc. 6.90% 2029			1,360			1,384
HSBK (Europe) BV 7.25% 20174			1,865			1,947
HSBK (Europe) BV 7.25% 20214			14,525			14,600
Developers Diversified Realty Corp. 5.375% 2012			3,950			4,095
Developers Diversified Realty Corp. 5.50% 2015			3,023			3,155
Developers Diversified Realty Corp. 9.625% 2016			1,510			1,841
Developers Diversified Realty Corp. 7.50% 2017			5,000			5,646
Developers Diversified Realty Corp. 7.875% 2020			735			844
Korea Development Bank 5.30% 2013			5,500			5,817
Korea Development Bank 8.00% 2014			8,250			9,387
J.P. Morgan Chase Commercial Mortgage Securities Corp., Series 2006-LDP7, Class A-4, 5.863% 20452,3			4,720			5,166
J.P. Morgan Chase Commercial Mortgage Securities Corp., Series 2011-C3A, Class A-2, 3.673% 20462,4			8,500			8,519
J.P. Morgan Chase Commercial Mortgage Securities Corp., Series 2007-CB19, Class A-4, 5.738% 20492,3			1,385			1,485
National Rural Utilities Cooperative Finance Corp. 5.50% 2013			2,125			2,320
National Rural Utilities Cooperative Finance Corp. 3.875% 2015			7,750			8,101
National Rural Utilities Cooperative Finance Corp. 10.375% 2018			3,250			4,444
Petrobras International 5.75% 2020			7,470			7,744
Petrobras International 6.875% 2040			6,760			7,113
Abu Dhabi National Energy Co. PJSC (TAQA) 5.875% 20164			5,500			5,789
Abu Dhabi National Energy Co. PJSC (TAQA) 7.25% 20184			8,000			8,853
CS First Boston Mortgage Securities Corp., Series 2001-CKN5, Class A-4, 5.435% 20342			795			801
CS First Boston Mortgage Securities Corp., Series 2001-CP4, Class A-4, 6.18% 20352			241			242
CS First Boston Mortgage Securities Corp., Series 2001-CK6, Class A-3, 6.387% 20362			1,220			1,242
CS First Boston Mortgage Securities Corp., Series 2004-C5, Class A-3, 4.499% 20372			2,300			2,319
CS First Boston Mortgage Securities Corp., Series 2004-C4, Class A-4, 4.283% 20392			324			325
CS First Boston Mortgage Securities Corp., Series 2006-C5, Class A-3, 5.311% 20392			7,165			7,533
CS First Boston Mortgage Securities Corp., Series 2006-C2, Class A-3, 5.66% 20392,3			1,905			2,051
Enel Finance International SA 3.875% 20144			13,805			14,280
Banco de Crédito del Perú 5.375% 20204			15,000			14,250
First Data Corp., Term Loan B2, 3.002% 20142,3,6			4,499			4,319
First Data Corp. 9.875% 2015			273			281
First Data Corp. 9.875% 2015			72			74
First Data Corp. 10.55% 20157			105			109
First Data Corp. 12.625% 20214			4,011			4,372
First Data Corp. 8.75% 20223,4,7			5,006			5,006
British American Tobacco International Finance PLC 9.50% 20184			10,485			13,888
ERP Operating LP 5.25% 2014			3,000			3,266
ERP Operating LP 6.584% 2015			1,085			1,236
ERP Operating LP 4.75% 2020			9,200			9,332
Paribas, New York Branch 6.95% 2013			550			604
BNP Paribas 5.125% 20154			1,145			1,209
BNP Paribas 5.00% 2021			11,840			11,974
Daimler Finance NA LLC 3.00% 20164			3,000			2,981
DaimlerChrysler North America Holding Corp. 8.50% 2031			7,850			10,580
Royal Bank of Scotland Group PLC 4.375% 2016			11,560			11,646
Royal Bank of Scotland Group PLC 4.70% 2018			1,200			1,043
Royal Bank of Scotland Group PLC 6.99% (undated)3,4			900			809
Niagara Mohawk Power 3.553% 20144			1,340			1,378
National Grid PLC 6.30% 2016			10,575			12,025
Enersis SA 7.375% 2014			11,935			13,302
Merrill Lynch Mortgage Trust, Series 2005-CIP1, Class A-3-A, 4.949% 20382,3			2,470			2,520
Merrill Lynch Mortgage Trust, Series 2006-C1, Class A-3, 5.669% 20392,3			3,770			3,909
Merrill Lynch Mortgage Trust, Series 2004-BPC1, Class A-5, 4.855% 20412,3			4,825			5,076
Merrill Lynch Mortgage Trust, Series 2005-MCP1, Class AM, 4.805% 20432,3			1,655			1,712
Vodafone Group PLC, Term Loan, 6.875% 20152,6,7,8			2,951			3,010
Vodafone Group PLC 5.625% 2017			9,100			10,067
Pfizer Inc 4.45% 2012			2,250			2,334
Pfizer Inc 6.20% 2019			9,000			10,388
UniCredito Italiano SpA 6.00% 20174			5,920			5,710
HVB Funding Trust I 8.741% 20314			6,845			6,742
TransCanada PipeLines Ltd. 6.50% 2018			5,000			5,835
TransCanada PipeLines Ltd. 7.125% 2019			3,035			3,677
TransCanada PipeLines Ltd. 7.625% 2039			2,000			2,487
Lithuania (Republic of) 6.75% 2015			3,930			4,284
Lithuania (Republic of) 6.125% 20214			7,155			7,341
SUPERVALU INC. 8.00% 2016			4,465			4,487
Albertson's, Inc. 7.45% 2029			3,000			2,385
Albertson's, Inc. 8.00% 2031			5,675			4,682
Kroger Co. 7.50% 2014			5,250			5,981
Kroger Co. 6.40% 2017			2,000			2,304
Kroger Co. 6.80% 2018			1,000			1,161
The Kroger Co. 7.00% 2018			1,800			2,089
Progress Energy, Inc. 6.05% 2014			5,000			5,533
Progress Energy, Inc. 7.05% 2019			5,000			5,906
Mandalay Resort Group 6.375% 2011			275			280
MGM Resorts International 5.875% 2014			2,250			2,160
MGM Resorts International 6.625% 2015			4,100			3,905
MGM Resorts International 7.50% 2016			1,500			1,425
MGM Resorts International 9.00% 2020			3,250			3,579
Virgin Media Finance PLC 9.125% 2016			1,000			1,065
Virgin Media Finance PLC, Series 1, 9.50% 2016			3,400			3,885
Virgin Media Secured Finance PLC 6.50% 2018			1,500			1,646
Virgin Media Secured Finance PLC 5.25% 20214			4,570			4,594
United States Government Agency-Guaranteed (FDIC insured), Regions Bank 3.25% 2011			3,000			3,061
Regions Financial Corp. 7.75% 2014			5,289			5,717
Regions Financial Corp. 5.75% 2015			1,161			1,184
Regions Bank 7.50% 2018			1,050			1,111
AES Corp. 7.75% 2015			3,275			3,553
AES Corp. 8.00% 2017			4,500			4,860
AES Corp. 8.00% 2020			2,440			2,647
Ford Motor Credit Co. 7.80% 2012			1,000			1,061
Ford Motor Credit Co. 8.70% 2014			500			568
Ford Motor Credit Co. 5.625% 2015			2,000			2,096
Ford Motor Credit Co. 8.00% 2016			6,450			7,330
Realogy Corp., Letter of Credit, 3.261% 20162,3,6			110			104
Realogy Corp., Term Loan B, 4.562% 20162,3,6			1,060			999
Realogy Corp., Second Lien Term Loan A, 13.50% 20172,6			6,150			6,660
Realogy Corp. 7.875% 20194			3,225			3,217
J.C. Penney Co., Inc., Series A, 6.875% 2015			5,055			5,516
J.C. Penney Co., Inc. 7.65% 2016			1,150			1,277
J.C. Penney Co., Inc. 5.75% 2018			2,790			2,825
J.C. Penney Co., Inc. 5.65% 2020			1,330			1,288
Hanesbrands Inc., Series B, 3.831% 20143			3,405			3,405
Hanesbrands Inc. 8.00% 2016			5,850			6,369
Hanesbrands Inc. 6.375% 2020			1,000			980
Kraft Foods Inc. 2.625% 2013			3,875			3,968
Kraft Foods Inc. 6.125% 2018			5,975			6,689
Time Warner Cable Inc. 6.75% 2018			3,985			4,534
Time Warner Cable Inc. 5.00% 2020			6,000			6,077
Indonesia (Republic of) 6.875% 2018			5,450			6,227
Indonesia (Republic of) 6.625% 20374			4,000			4,340
Toys "R" Us, Inc. 7.625% 2011			1,705			1,743
Toys "R" Us-Delaware, Inc. 7.375% 20164			2,000			2,105
Toys "R" Us Property Co. II, LLC 8.50% 2017			3,800			4,104
Toys "R" Us Property Co. I, LLC 10.75% 2017			500			570
Toys "R" Us, Inc. 7.375% 2018			2,000			2,015
Nextel Communications, Inc., Series E, 6.875% 2013			375			380
Nextel Communications, Inc., Series F, 5.95% 2014			7,895			7,954
Nextel Communications, Inc., Series D, 7.375% 2015			650			656
Sprint Nextel Corp. 6.00% 2016			1,000			1,009
Sprint Capital Corp. 8.75% 2032			500			534
CMC Energy Corp. 6.55% 2017			2,450			2,684
CMS Energy Corp. 5.05% 2018			3,000			3,003
Consumers Energy Co., First Mortgage Bonds, 6.125% 2019			2,650			3,015
CMS Energy Corp. 8.75% 2019			600			719
CMS Energy Corp. 6.25% 2020			1,000			1,049
State of Qatar 9.75% 2030			7,250			10,386
Development Bank of Kazakhstan 5.50% 20154			9,820			10,286
Shell International Finance BV 4.00% 2014			9,340			9,990
Citigroup-Deutsche Bank Commercial Mortgage Trust, Series 2005-CD1, Class A-4, 5.222% 20442,3			5,055			5,440
Citigroup-Deutsche Bank Commercial Mortgage Trust, Series 2006-CD3, Class A-5, 5.617% 20482			4,125			4,423
United Mexican States Government Global 6.375% 2013			151			165
United Mexican States Government Global 5.95% 2019			8,020			8,978
United Mexican States Government Global 6.05% 2040			520			538
Sally Holdings LLC and Sally Capital Inc. 9.25% 2014			3,205			3,377
Sally Holdings LLC and Sally Capital Inc. 10.50% 2016			5,525			6,036
Boston Scientific Corp. 6.25% 2015			8,585			9,254
Michaels Stores, Inc. 0%/13.00% 20169			1,950			1,999
Michaels Stores, Inc. 11.375% 2016			4,700			5,147
Michaels Stores, Inc. 7.75% 20184			1,900			1,948
NRG Energy, Inc. 7.375% 2016			725			752
NRG Energy, Inc. 7.375% 2017			7,975			8,334
HCA Inc. 6.375% 2015			7,250			7,431
HCA Inc. 9.25% 2016			1,490			1,611
Greenwich Capital Commercial Funding Corp., Series 2005-GG5, Class A-2, 5.117% 20372			2,340			2,385
Greenwich Capital Commercial Funding Corp., Series 2006-GG7, Class A-4, 5.89% 20382,3			3,785			4,146
Greenwich Capital Commercial Funding Corp., Series 2007-GG9, Class A-4, 5.444% 20392			2,250			2,385
Tennessee Valley Authority 5.25% 2039			8,250			8,639
Elan Finance PLC and Elan Finance Corp. 8.875% 2013			1,465			1,522
Elan Finance PLC and Elan Finance Corp. 8.75% 2016			6,160			6,545
Elan Finance PLC and Elan Finance Corp. 8.75% 20164			500			530
Colbun SA 6.00% 20204			8,150			8,382
Aries Vermögensverwaltungs GmbH, Series C, 9.60% 2014			6,500			8,239
Burlington Coat Factory Warehouse Corp. 11.125% 2014			4,835			4,992
Burlington Coat Factory Warehouse Corp., Term Loan B, 6.25% 20172,3,6			3,200			3,168
AMC Entertainment Inc. 8.00% 2014			2,725			2,769
AMC Entertainment Inc. 8.75% 2019			375			409
AMC Entertainment Inc. 9.75% 20204			4,500			4,838
Petroplus Finance Ltd. 6.75% 20144			3,450			3,398
Petroplus Finance Ltd. 7.00% 20174			3,960			3,782
Petroplus Finance Ltd. 9.375% 20194			800			814
Kinder Morgan Energy Partners LP 6.85% 2020			6,910			7,930
Electricité de France SA 5.50% 20144			2,350			2,576
Electricité de France SA 4.60% 20204			2,200			2,246
Electricité de France SA 6.95% 20394			2,625			3,062
McDonald's Corp. 3.50% 2020			8,005			7,834
United States Government Agency-Guaranteed (FDIC insured), Bank of America Corp., Series L, 3.125% 2012			6,500			6,705
Bank of America Corp. 5.75% 2017			1,020			1,076
Freescale Semiconductor, Inc. 9.125% 20143,7			—			—
Freescale Semiconductor, Inc. 10.125% 2016			3,325			3,549
Freescale Semiconductor, Inc. 9.25% 20184			3,800			4,180
CenterPoint Energy Resources Corp. 4.50% 20214			7,835			7,695
Wind Acquisition SA 11.75% 20174			4,750			5,486
Wind Acquisition SA 7.25% 20184			2,050			2,147
DBUBS Mortgage Trust, Series 2011-LC1A, Class A1, 3.742% 20462,4			4,465			4,501
DBUBS Mortgage Trust, Series 2011-LC1A, Class A3, 5.002% 20462,4			3,000			3,117
DAE Aviation Holdings, Inc. 11.25% 20154			7,033			7,473
Wynn Las Vegas, LLC and Wynn Capital Corp. 7.75% 2020			7,000			7,455
Odebrecht Drilling Norbe VIII/IX Ltd 6.35% 20212,4			7,000			7,411
Cinemark USA, Inc. 8.625% 2019			6,750			7,408
Texas Competitive Electric Holdings Co. LLC, Term Loan B2, 3.803% 20142,3,6			4,987			4,210
Texas Competitive Electric Holdings Co. LLC, Series B, 10.25% 2015			3,780			2,221
Texas Competitive Electric Holdings Co. LLC, Series A, 10.25% 2015			1,530			903
US Investigations Services, Inc., Term Loan B, 3.059% 20152,3,6			1,693			1,677
US Investigations Services, Inc., Term Loan B, 7.75% 20152,3,6			2,496			2,515
US Investigations Services, Inc. 10.50% 20154			1,900			2,024
US Investigations Services, Inc. 11.75% 20164			1,035			1,113
Brandywine Operating Partnership, LP 5.40% 2014			2,500			2,637
Brandywine Operating Partnership, LP 7.50% 2015			3,000			3,392
Brandywine Operating Partnership, LP 4.95% 2018			1,280			1,267
Boyd Gaming Corp. 6.75% 2014			3,025			3,048
Boyd Gaming Corp. 7.125% 2016			2,175			2,083
Boyd Gaming Corp. 9.125% 20184			2,000			2,075
Hawker Beechcraft Acquisition Co., LLC, Letter of Credit, 2.207% 20142,3,6			137			121
Hawker Beechcraft Acquisition Co., LLC, Term Loan B, 2.246% 20142,3,6			2,222			1,964
Hawker Beechcraft Acquisition Co., LLC, Term Loan B, 10.50% 20142,3,6			2,493			2,540
Hawker Beechcraft Acquisition Co., LLC 8.50% 2015			1,225			1,044
Hawker Beechcraft Acquisition Co., LLC 8.875% 20153,7			1,815			1,529
Univision Communications Inc. 12.00% 20144			2,550			2,767
Univision Communications Inc., Term Loan, 4.496% 20172,3,6			682			667
Univision Communications Inc. 8.50% 20214			3,500			3,640
Teekay Corp. 8.50% 2020			6,400			6,968
American Tower Corp. 7.00% 2017			6,150			6,945
Chilean Government 3.875% 2020			7,000			6,853
SunGard Data Systems Inc. 4.875% 2014			1,000			1,023
SunGard Data Systems Inc. 10.625% 2015			2,000			2,203
SunGard Data Systems Inc. 7.375% 20184			2,500			2,569
SunGard Data Systems Inc. 7.625% 20204			1,000			1,033
Pemex Project Funding Master Trust, Series 13, 6.625% 2035			6,750			6,805
Dominican Republic 7.50% 20212,4			6,500			6,646
Reliance Holdings Ltd. 6.25% 20404			7,000			6,644
Wal-Mart Stores, Inc. 3.25% 2020			2,135			1,998
Wal-Mart Stores, Inc. 4.875% 2040			5,000			4,578
Charter Communications Operating, LLC and Charter Communications Operating Capital Corp. 10.875% 20144			475			534
Charter Communications, Inc. 13.50% 2016			1,137			1,367
Charter Communications Operating, LLC and Charter Communications Operating Capital Corp. 7.25% 2017			3,000			3,150
Charter Communications Operating, LLC and Charter Communications Operating Capital Corp. 7.875% 2018			1,425			1,521
Australia Government Agency-Guaranteed, Commonwealth Bank of Australia 2.90% 20144			6,365			6,534
Hospitality Properties Trust 6.70% 2018			6,055			6,509
Gabonese Republic 8.20% 20174			5,500			6,463
Host Marriott, LP, Series K, 7.125% 2013			172			175
Host Marriott, LP, Series O, 6.375% 2015			500			513
Host Hotels & Resorts, LP, Series Q, 6.75% 2016			2,000			2,073
Host Hotels & Resorts LP 9.00% 2017			2,075			2,350
Host Hotels & Resorts LP 6.00% 2020			1,350			1,333
Biogen Idec Inc. 6.00% 2013			6,000			6,415
C&S Group Enterprises LLC 8.375% 20174			6,155			6,332
Frontier Communications Corp. 7.875% 2015			1,500			1,624
Frontier Communications Corp. 8.25% 2017			2,550			2,767
Frontier Communications Corp. 8.50% 2020			1,775			1,933
RBS Global, Inc. and Rexnord LLC 11.75% 2016			900			970
RBS Global, Inc. and Rexnord LLC 8.50% 2018			4,875			5,289
Norfolk Southern Corp. 5.75% 2016			5,515			6,185
TransDigm Inc. 7.75% 20184			5,700			6,149
Royal Caribbean Cruises Ltd. 6.875% 2013			1,000			1,073
Royal Caribbean Cruises Ltd. 11.875% 2015			4,075			5,022
Owens-Brockway Glass Container Inc. 7.375% 2016			5,525			6,084
Eskom Holdings Ltd. 5.75% 20214			5,970			6,082
Esterline Technologies Corp. 6.625% 2017			3,800			3,962
Esterline Technologies Corp. 7.00% 2020			2,000			2,103
Safeway Inc. 6.25% 2014			2,625			2,904
Safeway Inc. 3.95% 2020			3,270			3,099
Intergen Power 9.00% 20174			5,525			5,981
Liberty Mutual Group Inc. 6.50% 20354			535			504
Liberty Mutual Group Inc. 7.50% 20364			1,815			1,948
Liberty Mutual Group Inc., Series A, 7.80% 20873,4			3,500			3,518
ARAMARK Corp. 3.804% 20153			2,675			2,662
ARAMARK Corp. 8.50% 2015			3,100			3,247
Rockies Express Pipeline LLC 6.85% 20184			5,400			5,893
CEVA Group PLC 11.625% 20164			2,775			3,066
CEVA Group PLC 8.375% 20174			200			205
CEVA Group PLC 11.50% 20184			2,350			2,564
CHS/Community Health Systems, Inc. 8.875% 2015			5,500			5,816
Georgia Gulf Corp. 9.00% 20174			5,275			5,803
Clearwire Communications and Clearwire Finance, Inc. 12.00% 20154			3,300			3,581
Clearwire Communications and Clearwire Finance, Inc. 12.00% 20154			1,250			1,356
Clearwire Communications and Clearwire Finance, Inc. 12.00% 20174			800			857
Overseas Shipholding Group, Inc. 8.125% 2018			5,825			5,752
Union Pacific Corp. 5.70% 2018			3,200			3,588
Union Pacific Corp. 6.15% 2037			1,990			2,154
Denbury Resources Inc. 9.75% 2016			2,750			3,114
Denbury Resources Inc. 8.25% 2020			2,292			2,573
Associated Banc-Corp 5.125% 2016			5,500			5,527
Tesco PLC 5.50% 20174			4,950			5,497
Bausch & Lomb Inc. 9.875% 2015			5,050			5,441
Allison Transmission Holdings, Inc. 11.00% 20154			3,500			3,815
Allison Transmission Holdings, Inc. 11.25% 20153,4,7			1,488			1,624
France Télécom 4.375% 2014			1,390			1,494
France Télécom 2.125% 2015			4,020			3,939
Denmark Government Agency-Guaranteed, Danish Finance Co. 2.45% 20124			5,300			5,396
Tops Holding Corp. and Tops Markets, LLC. 10.125% 2015	��		4,990			5,389
Associated Materials, LLC 9.125% 20174			5,000			5,363
Revel Entertainment, Term Loan B, 9.00% 20182,3,6			5,500			5,360
Nalco Co. 8.25% 2017			2,000			2,195
Nalco Co. 6.625% 20194			3,000			3,101
Edison Mission Energy 7.50% 2013			155			155
Midwest Generation, LLC, Series B, 8.56% 20162			2,091			2,138
Edison Mission Energy 7.20% 2019			3,175			2,492
Edison Mission Energy 7.625% 2027			650			488
Marks and Spencer Group PLC 6.25% 20174			4,500			4,736
Marks and Spencer Group PLC 7.125% 20374			500			479
Sanmina-SCI Corp. 8.125% 2016			5,000			5,200
NCL Corp. Ltd. 11.75% 2016			3,975			4,611
NCL Corp. Ltd. 9.50% 20184			550			582
Nordea Bank, Series 2, 3.70% 20144			5,000			5,182
LightSquared, Term Loan B, 12.00% 20142,6,7			5,265			5,170
Sierra Pacific Resources 6.75% 2017			545			562
NV Energy, Inc 6.25% 2020			4,500			4,602
Tenet Healthcare Corp. 7.375% 2013			2,185			2,305
Tenet Healthcare Corp. 9.25% 2015			2,555			2,826
International Lease Finance Corp., Series Q, 5.75% 2011			1,470			1,483
International Lease Finance Corp. 5.00% 2012			975			995
International Lease Finance Corp., Series R, 5.30% 2012			990			1,012
International Lease Finance Corp., Series R, 5.35% 2012			585			597
International Lease Finance Corp., Series R, 6.375% 2013			1,000			1,040
Cricket Communications, Inc. 10.00% 2015			1,325			1,461
Cricket Communications, Inc. 7.75% 2016			3,425			3,656
Banco Mercantil del Norte, SA 6.135% 20163,4			1,500			1,508
Banco Mercantil del Norte, SA 6.862% 20213,4			3,500			3,592
Radio One, Inc., Term Loan B, 7.50% 20162,3,6			5,000			5,072
CSC Holdings, Inc. 8.50% 2014			4,500			5,068
Limited Brands, Inc. 7.00% 2020			4,725			5,026
Target Corp. 6.00% 2018			4,375			5,014
Venezuela (Republic of) 9.25% 2027			2,315			1,719
Venezuela (Republic of) 9.25% 2028			780			532
Venezuela (Republic of) 9.375% 2034			4,025			2,757
Ashtead Group PLC 8.625% 20154			1,915			2,008
Ashtead Capital, Inc. 9.00% 20164			2,750			2,908
New Zealand Government Agency-Guaranteed, Westpac Securities Co. 3.45% 20144			4,655			4,851
Ply Gem Industries, Inc. 8.25% 20184			4,675			4,827
Constellation Brands, Inc. 7.25% 2017			4,410			4,807
Zions Bancorporation 5.65% 2014			3,375			3,443
Zions Bancorporation 7.75% 2014			1,239			1,347
PTS Acquisition Corp. 9.50% 20153,7			4,636			4,781
Voto-Votorantim Ltd 6.75% 20214			4,450			4,739
VWR Funding, Inc., Series B, 10.25% 20153,7			4,434			4,711
Smithfield Foods, Inc. 10.00% 2014			3,000			3,548
Smithfield Foods, Inc. 7.75% 2017			1,075			1,161
Province of Buenos Aires 10.875% 20212,4			5,000			4,698
Continental Resources Inc. 8.25% 2019			725			806
Continental Resources Inc. 7.375% 2020			425			459
Continental Resources Inc. 7.125% 2021			3,200			3,416
Cardinal Health, Inc. 4.625% 2020			4,680			4,664
Russian Federation 7.50% 20302			3,962			4,649
NBC Universal, Inc. 5.15% 20204			4,500			4,646
Time Warner Inc. 4.75% 2021			2,320			2,309
AOL Time Warner Inc. 7.625% 2031			1,995			2,308
Australia and New Zealand Government Agency-Guaranteed, Australia and New Zealand Banking Group Ltd. 3.25% 20124			4,500			4,612
Nielsen Finance LLC and Nielsen Finance Co. 11.50% 2016			704			832
Nielsen Finance LLC and Nielsen Finance Co. 7.75% 20184			3,500			3,771
Tower Automotive Holdings 10.625% 20174			4,027			4,510
MBNA Credit Card Master Note Trust, Series 2004-1, Class B, 4.45% 20162			4,250			4,501
Government National Mortgage Assn. 3.50% 20252			2,425			2,472
Government National Mortgage Assn. 3.50% 20252			1,955			1,992
Nortek Inc. 10.00% 20184			4,050			4,384
Citigroup Commercial Mortgage Trust, Series 2006-C4, Class A-3, 5.733% (undated)2,3			4,000			4,366
Navios Maritime Acquisition Corporation and Navios Acquisition Finance (US) Inc. 8.625% 2017			3,700			3,848
Navios Maritime Holdings Inc. 8.125% 20194			500			506
Accellent Inc. 8.375% 2017			4,000			4,310
GlaxoSmithKline Capital Inc. 4.85% 2013			4,000			4,306
NXP BV and NXP Funding LLC 3.053% 20133			1,075			1,070
NXP BV and NXP Funding LLC 9.50% 2015			1,970			2,098
NXP BV and NXP Funding LLC 9.75% 20184			1,000			1,125
Ingles Markets, Inc. 8.875% 2017			3,950			4,261
Neiman Marcus Group, Inc. 9.00% 20153,7			3,049			3,201
Neiman Marcus Group, Inc. 10.375% 2015			1,000			1,059
Synovus Financial Corp. 5.125% 2017			4,556			4,255
J.P. Morgan Chase Commercial Mortgage Securities Trust, Series 2006-LDP6, Class A-4, 5.475% 20432,3			2,575			2,777
J.P. Morgan Chase Commercial Mortgage Securities Trust, Series 2006-LDP8, Class A-4, 5.399% 20452			1,375			1,476
Stater Bros. Holdings Inc. 7.75% 2015			4,025			4,196
FMG Resources 7.00% 20154			4,000			4,170
Orascom Telecom 7.875% 20144			3,980			4,109
CoBank ACB 7.875% 20184			430			484
CoBank ACB 0.91% 20223,4			4,275			3,613
Chevron Corp. 4.95% 2019			3,700			4,089
Banc of America Commercial Mortgage Inc., Series 2006-4, Class A-4, 5.634% 20462			3,790			4,087
United States Government Agency-Guaranteed (FDIC insured), Sovereign Bancorp, Inc. 2.75% 2012			4,000			4,076
PTT Exploration & Production Ltd 5.692% 20214			4,045			4,057
Continental Airlines, Inc., Series 1997-4, Class A, 6.90% 20192			1,084			1,142
Continental Airlines, Inc., Series 1999-1, Class A, 6.545% 20202			250			265
Continental Airlines, Inc., Series 2000-2, Class A-1, 7.707% 20222			2,429			2,622
Concho Resources Inc. 8.625% 2017			1,250			1,388
Concho Resources Inc. 7.00% 2021			2,500			2,638
Abbott Laboratories 5.875% 2016			3,435			3,936
Staples, Inc. 9.75% 2014			3,250			3,904
Crown Castle International Corp. 9.00% 2015			2,525			2,796
Crown Castle International Corp. 7.75% 20174			500			548
Crown Castle International Corp. 7.125% 2019			500			526
Clear Channel Worldwide Holdings, Inc., Series B, 9.25% 2017			3,500			3,854
Devon Energy Corp. 6.30% 2019			3,280			3,850
Development Bank of Singapore Ltd. 7.125% 20114			3,800			3,824
Schering-Plough Corp. 6.00% 2017			3,275			3,783
South Korean Government 5.75% 2014			3,400			3,710
Unum Group 5.625% 2020			3,600			3,665
Digicel Group Ltd. 12.00% 2014			300			353
Digicel Group Ltd. 12.00% 20144			200			235
Digicel Group Ltd. 8.875% 20154			2,000			2,093
Digicel Group Ltd. 10.50% 20184			850			978
MacDermid 9.50% 20174			3,350			3,576
Barclays Bank PLC 5.125% 2020			3,500			3,567
Kansas City Southern Railway Co. 13.00% 2013			520			618
Kansas City Southern Railway Co. 8.00% 2015			2,625			2,861
Egypt (Arab Republic of) 5.75% 20204			1,675			1,637
Egypt (Arab Republic of) 6.875% 20404			2,000			1,840
Rouse Co. 5.375% 2013			1,500			1,511
Rouse Co. 6.75% 20134			1,875			1,948
Public Service Co. of Colorado 3.20% 2020			3,675			3,423
Mohegan Tribal Gaming Authority 7.125% 2014			4,500			3,420
LBI Escrow Corp 8.00% 20174			3,037			3,356
Burlington Northern Santa Fe LLC 5.75% 2018			1,160			1,294
Burlington Northern Santa Fe LLC 4.70% 2019			1,960			2,050
Energy Transfer Partners, LP 7.50% 2020			3,050			3,332
Needle Merger Sub Corp. 8.125% 20194			3,265			3,314
ACE INA Holdings Inc. 5.875% 2014			1,510			1,677
ACE INA Holdings Inc. 2.60% 2015			1,625			1,581
SLM Corp., Series A, 0.533% 20113			1,250			1,237
SLM Corp., Series A, 5.45% 2011			2,000			2,004
Williams Companies, Inc. 7.875% 2021			1,315			1,640
Williams Companies, Inc. 8.75% 2032			1,200			1,557
American Tower Trust I, Series 2007-1A, Class A-FX, 5.42% 20372,4			3,000			3,187
Thomson Reuters Corp. 5.95% 2013			1,750			1,929
Thomson Reuters Corp. 6.50% 2018			1,085			1,258
H&E Equipment Services, Inc. 8.375% 2016			3,000			3,169
International Paper Co. 7.30% 2039			2,810			3,154
Forest Oil Corp. 7.25% 2019			3,000			3,150
Quintiles Transnational 9.50% 20143,4,7			3,030			3,106
Serena Software, Inc. 10.375% 2016			2,936			3,105
Grifols Inc 8.25% 20184			3,000			3,094
ConvaTec Healthcare 10.50% 20184			2,905			3,065
Peugeot SA 4.375% 20164			3,000			2,989
News America Inc. 6.15% 20414			3,000			2,985
Lehman Brothers Holdings Inc., Series I, 6.875% 201810			11,100			2,969
UDR, Inc., Series A, 5.25% 2015			2,680			2,815
Koninklijke Philips Electronics NV 5.75% 2018			2,500			2,806
Advanced Micro Devices, Inc. 8.125% 2017			2,625			2,743
StatoilHydro ASA 5.25% 2019			2,500			2,734
ArcelorMittal 5.50% 2021			2,765			2,730
PETCO Animal Supplies, Inc. 9.25% 20184			2,500			2,688
Australia Government Agency-Guaranteed, National Australia Bank 3.375% 20144			2,500			2,581
Delhaize Group 6.50% 2017			500			563
Delhaize Group 5.70% 2040			2,129			1,952
Seneca Gaming Corp. 8.25% 20184			2,400			2,484
CenterPoint Energy Transition Bond Co. III, LLC, Series 2008, Class A-2, 5.234% 20232			2,225			2,458
Dollar General Corp. 11.875% 20173,7			2,059			2,383
Freeport-McMoRan Copper & Gold Inc. 8.375% 2017			2,075			2,290
Rio Tinto Finance (USA) Ltd. 8.95% 2014			1,835			2,209
PETRONAS Capital Ltd. 7.00% 20124			2,050			2,181
Express Scripts Inc. 5.25% 2012			2,080			2,180
AES Panamá, SA 6.35% 20164			2,000			2,132
Coventry Health Care, Inc. 6.125% 2015			2,000			2,115
New York Life Global Funding 4.65% 20134			1,940			2,067
Charles Schwab Corp., Series A, 6.375% 2017			1,775			2,058
United States Government Agency-Guaranteed (FDIC insured), PNC Funding Corp. 2.30% 2012			2,000			2,043
Cisco Systems, Inc. 0.559% 20143			2,000			2,008
Home Depot, Inc. 4.40% 2021			1,000			1,000
Home Depot, Inc. 5.875% 2036			1,000			997
Rockwood Specialties Group, Inc. 7.50% 2014			1,825			1,877
Banque Centrale de Tunisie 7.375% 2012			1,750			1,838
TNK-BP Finance SA 7.50% 20164			1,500			1,688
Canadian Natural Resources Ltd. 5.70% 2017			1,500			1,680
JSC BTA Bank 10.75%/12.50% 20182,4,9			1,165			1,242
JSC BTA Bank 0% 20204			2,406			208
JSC BTA Bank 7.20% 20252,4			264			180
Citibank Credit Card Issuance Trust, Series 2008, Class A5, 4.85% 20152			1,500			1,608
POSCO 4.25% 20204			1,700			1,600
Colombia (Republic of) Global 10.375% 2033			484			730
Colombia (Republic of) Global 7.375% 2037			715			853
Fox Acquisition LLC 13.375% 20164			1,330			1,480
Husky Energy Inc. 5.90% 2014			1,300			1,441
Kohl's Corp. 6.25% 2017			1,000			1,147
Kohl's Corp. 6.00% 2033			270			280
CNA Financial Corp. 7.35% 2019			1,200			1,357
Old Dominion Electric Cooperative, Series 2003-A, 5.676% 20282			1,125			1,210
Northwest Airlines, Inc., Term Loan B, 3.81% 20132,3,6			283			271
Northwest Airlines, Inc., Term Loan A, 2.06% 20182,3,6			980			875
Commercial Mortgage Trust, Series 2003-LNB1, Class A-2, 4.084% 20382			1,100			1,138
Morgan Stanley Capital I Trust, Series 2005-HQ7, Class A-2, 5.203% 20422,3			1,092			1,128
Canadian National Railway Co. 4.95% 2014			1,000			1,089
GE Commercial Mortgage Corp., Series 2006-C1, Class A-4, 5.174% 20442,3			1,000			1,077
General Electric Co. 5.00% 2013			1,000			1,066
GE Capital Commercial Mortgage Corp., Series 2001-3, Class A-2, 6.07% 20382			960			976
AmeriCredit Automobile Receivables Trust, Series 2007-D-F, Class A-4-A, FSA insured, 5.56% 20142			881			919
Huntington Ingalls Industries Inc. 7.125% 20214			790			828
McKesson Corp. 3.25% 2016			740			746
American Airlines, Inc., Series 2001-2, Class A-2, 7.858% 20132			550			565
American Airlines, Inc., Series 2001-1, Class B, 7.377% 20192			153			147
Rite Aid Corp. 9.75% 2016			570			636
Jackson National Life Global 5.375% 20134			560			603
Atlas Copco AB 5.60% 20174			500			530
GSR Mortgage Loan Trust, Series 2004-15F, Class 5A-1, 5.50% 20202			409			413
Local T.V. Finance LLC, Term Loan B, 2.31% 20132,3,6			274			267
BAE Systems 2001 Asset Trust, Series 2001, Class B, 7.156% 20112,4,8			237			242
Iraq (Republic of) 5.80% 20282,4			250			231
Residential Asset Securities Corp. Trust, Series 2001-KS3, Class A-I-6, 5.96% 20312			232			224
Hawaiian Telcom, Inc. 9.00% 20152,3,6,7			215			220
ONO Finance II PLC 10.875% 20194			150			161
						4,382,638
Total bonds & notes (cost: $10,459,157,000)						11,019,990
Preferred securities — 0.14%
U.S. DOLLARS — 0.12%
BNP Paribas 7.195%3,4			5,200			5,044
RBS Capital Trust II 6.425% noncumulative trust3,11			6,475			4,856
HVB Funding Trust III 9.00% 20314			1,810			1,783
Lloyds Banking Group PLC 6.657% preference shares3,4,11			1,115			898
QBE Capital Funding II LP 6.797%3,4			750			671
						13,252
MISCELLANEOUS — 0.02%
Other preferred securities in initial period of acquisition						2,622
Total preferred securities (cost: $12,669,000)						15,874
					Value
Common stocks — 0.02%		Shares				(000	)
U.S. DOLLARS — 0.02%
Cooper-Standard Holdings Inc.4,11			33,712		US$ 1,467
Cooper-Standard Holdings Inc.4,11			6,810			296
Atrium Corp.8,11,12			191			17
						1,780
MISCELLANEOUS — 0.00%
Other common stocks in initial period of acquisition						188
Total common stocks (cost: $1,414,000)						1,968
Warrants — 0.00%
U.S. DOLLARS — 0.00%
Cooper-Standard Holdings Inc., warrants, expire 20174,11			2,837			72
MISCELLANEOUS — 0.00%
Other warrants in initial period of acquisition						65
Total warrants (cost: $1,197,000)						137
		Principal amount
Short-term securities — 4.79%			(000	)
Freddie Mac 0.19%–0.21% due 8/17–11/18/2011		US$123,400				123,277
National Australia Funding (Delaware) Inc. 0.245% due 4/1/20114			60,200			60,200
Rabobank USA Financial Corp. 0.24% due 7/5/2011			53,200			53,166
Fannie Mae 0.10% due 5/9/2011			35,000			34,996
General Electric Capital Services, Inc. 0.18% due 5/6/2011			35,000			34,994
Turkey (Republic of) 0% due 1/25/2012		TRY50,275				30,434
Bank of Nova Scotia 0.225% due 5/16/2011		US$30,000				29,991
Coca-Cola Co. 0.22% due 7/21/20114			30,000			29,976
Federal Home Loan Bank 0.10% due 5/4/2011			28,500			28,497
Jupiter Securitization Co., LLC 0.20% due 4/19/20114			27,400			27,397
Toronto-Dominion Holdings USA Inc. 0.195% due 4/25/20114			27,000			26,996
Novartis Securities Investment Ltd. 0.20% due 4/11/20114			25,000			24,999
KfW 0.27% due 4/15/20114			23,600			23,598
International Bank for Reconstruction and Development 0.20% due 4/6/2011			16,200			16,200
American Honda Finance Corp. 0.19% due 4/5/2011			15,000			15,000
Total short-term securities (cost: $559,347,000)						559,721
Total investment securities (cost: $11,033,784,000)						11,597,690
Other assets less liabilities						89,020
Net assets					US$11,686,710

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

1Index-linked bond whose principal amount moves with a government price index.

2Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date.

3Coupon rate may change periodically.

4Acquired in a transaction exempt from registration under 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 $1,142,648,000, which represented 9.78% of the net assets of the fund.

5All or a portion of this security was pledged as collateral for losses on unsettled forward currency contracts with certain counterparties. The total value of pledged collateral was $7,951,000, which represented .07% of the net assets of the fund.

6Loan participations and assignments; may be subject to legal or contractual restrictions on resale. The total value of all such loans was $49,189,000, which represented .42% of the net assets of the fund.

7Payment in kind; the issuer has the option of paying additional securities in lieu of cash.

8Valued under fair value procedures adopted by authority of the board of trustees. The total value of all such securities was $3,269,000, which represented .03% of the net assets of the fund.

9Step bond; coupon rate will increase at a later date.

10Scheduled interest and/or principal payment was not received.

11Security did not produce income during the last 12 months.

12Acquired in a transaction exempt from registration under the Securities Act of 1933. This security (acquired 4/30/2010 at a cost of $17,000) may be subject to legal or contractual restrictions on resale.

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 the investment objectives, risks, charges and expenses of the American Funds. This and other important information is contained in the fund’s 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 800/421-0180 or visit the American Funds website at americanfunds.com.

MFGEFP-931-0511O-S25575

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.

CAPITAL WORLD BOND FUND

By /s/ Mark H. Dalzell

Mark H. Dalzell, President and

Principal Executive Officer

Date: May 31, 2011

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/ Mark H. Dalzell

Mark H. Dalzell, President and

Principal Executive Officer

Date: May 31, 2011

By /s/ M. Susan Gupton

M. Susan Gupton, Treasurer and

Principal Financial Officer

Date: May 31, 2011