American Funds Capital World Growth & Income Fund Class F-1 Shs NCSRS 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: 811-07338

Capital World Growth and Income Fund, Inc.

(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: November 30

Date of reporting period: May 31, 2011

Vincent P. Corti

Capital Research and Management Company

333 South Hope Street

Los Angeles, California 90071

(Name and Address of Agent for Service)

Copies to:

Kathryn A. Sanders

O’Melveny & Myers LLP

400 South Hope Street, 10th Floor

Los Angeles, California 90071

(Counsel for the Registrant)

ITEM 1 – Reports to Stockholders

Capital World Growth and Income FundSM

[photo of shipping containers on a container barge heading towards the Cooper River Bridge, Mount Pleasant, SC] 

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

Capital World Growth and Income Fund seeks long-term growth of capital while providing current income. It invests on a global basis in a diversified portfolio consisting primarily of common stocks and other equity 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 5.75%) had been deducted, the results would have been lower. Results are for past periods and are not predictive of results for future periods. Current and future results may be lower or higher than those shown. Share prices and returns will vary, so investors may lose money. Investing for short periods makes losses more likely. Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value. For current information and month-end results, visit americanfunds.com.

Here are the average annual total returns on a $1,000 investment with all distributions reinvested for periods ended June 30, 2011 (the most recent calendar quarter-end):

Class A shares	1 year			5 years			10 years

Reflecting 5.75% maximum sales charge		21.96	%		3.30	%		7.74	%

The total annual fund operating expense ratio was 0.79% 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.

The fund’s 30-day yield for Class A shares as of June 30, 2011, reflecting the 5.75% maximum sales charge and calculated in accordance with the U.S. Securities and Exchange Commission formula, was 2.52%.

Results for other share classes can be found on page 36.

Investing outside the United States may be subject to risks, such as currency fluctuations, periods of illiquidity and price volatility. These risks may be heightened in connection with investments in developing countries. 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 shipping containers on a container barge heading towards the Cooper River Bridge, Mount Pleasant, SC]

Global equities registered solid gains for most of the first half of the fiscal year, as companies reported strong earnings. In May, however, stock prices eased on signs of slower growth in the United States, Europe and China, as well as renewed concerns about Europe’s sovereign debt crisis.

In this environment, Capital World Growth and Income Fund earned a total return of 14.49% for the six months ended May 31, 2011. The fund trailed the 15.20% increase turned in by its primary benchmark, the unmanaged MSCI World Index, a broad measure of global developed stock markets. However, the fund’s return compared favorably with that of its peer group, as measured by the Lipper Global Funds Index, which gained 13.96%. Over longer, more meaningful periods, the fund has consistently exceeded both of these references, as can be seen in the table below.

Results at a glance
For periods ended May 31, 2011, with all distributions reinvested

	Total returns			Average annual total returns
										Lifetime
	1 year			5 years			10 years			(since 3/26/93)
Capital World Growth and
Income Fund (Class A shares)		29.39	%		5.00	%		8.37	%		11.62	%

MSCI World Index*		28.73			3.17			4.35			7.54

Lipper Global Funds Index†		28.37			3.57			4.61			7.60

*The MSCI World Index is weighted by market capitalization and is designed to measure global developed-market equity results. The index consists of more than 20 developed-country indexes, including the United States. The index is unmanaged and its results do not reflect the effect of sales charges, commissions, account fees, expenses or taxes.

† Lipper Global Funds Index is an equally weighted index of funds that invest at least 25% of their portfolios in securities traded outside the United States and that may own U.S. securities as well. The results of the underlying funds in the index include the reinvestment of dividends and capital gain distributions, as well as brokerage commissions paid by the funds for portfolio transactions and other fund expenses, but do not reflect the effect of sales charges, account fees or taxes.

The fund’s total return includes the reinvestment of quarterly dividends totaling 35 cents a share. These dividends represented an income return of 1.04% for our shareholders for the six months ended May 31, 2011.

Global markets review

The beginning of the fiscal year coincided with the start of a broad rally across most stock markets in developed and developing countries. Gains continued through April, fueled by robust corporate earnings reports, positive economic data and strong demand from the developing world. Most markets experienced declines in the closing weeks of the period on renewed concerns about the Greek debt crisis, unrest in the Middle East and unexpected signs that the U.S., European and Chinese economies were slowing down. Despite this reversal, however, most markets ended the period with solid gains.

Europe is home to the largest portion of fund holdings, with about 44% of portfolio assets. Nearly all European markets posted increases during the six months, bolstered by strong earnings and an increase in merger activity. In most cases, these returns were further enhanced for U.S. investors by a strengthening of the euro and other local currencies against the dollar. On a dollar-adjusted basis, indebted nations Ireland (+29.0%*) and Spain (+27.7%) saw some of the strongest gains of the period. France, Germany and the United Kingdom, the three largest European markets, generated dollar-adjusted increases of 25.7%, 20.7% and 16.7%, respectively. The lone exception to this positive trend was Greece, as investors became increasingly concerned about that country’s unsustainable debt levels and struggles in passing austerity measures. The loss, however, was tempered for U.S. investors by the strength of the euro. As measured by the MSCI World Index, Greece’s stock market lost 13.1% in euros, but only 4.1% in dollars.

U.S. companies also continued to generate strong earnings. In April, signals that the Federal Reserve would not take action to raise interest rates in the near future provided an additional tailwind for equities. U.S. stocks increased 15.2% for the six-month period and accounted for 28.6% of portfolio holdings.

As was the case in Europe, most markets in the Asia/Pacific region delivered positive results, magnified by currency trends. These included South Korea (+22.9%), Taiwan (+14.3%) and Singapore (+8.2%). The Japanese stock market was negative in local currency terms, as the powerful earthquake and tsunami in March resulted in production and supply chain difficulties. In U.S. dollar terms, however, Japanese equities managed a modest gain of 1.1%. Overall positive results in Australia (+16.1%) were restrained by the impact of widespread flooding and central bank credit tightening.

*Country returns are based on MSCI indexes, expressed in U.S. dollars (except where noted), and assume the reinvestment of dividends.

[Begin Sidebar]

Where the fund’s assets were invested
Percent of net assets by country as of May 31, 2011

	Capital World Growth			MSCI
	and Income Fund			World Index*

Europe		43.8	%		29.9	%
United Kingdom		10.7			9.8
France		7.6			4.6
Switzerland		6.6			3.8
Germany		6.2			3.9
Sweden		3.9			1.5
Spain		1.6			1.6
Belgium		.9			.4
Italy		.9			1.3
Finland		.9			.5
Turkey		.8			—
Netherlands		.8			1.2
Austria		.6			.1
Czech Republic		.6			—
Russia		.6			—
Other Europe		1.1			1.2

The Americas		32.6			55.0
United States		28.6			49.6
Brazil		1.7			—
Mexico		1.4			—
Canada		.9			5.4

Asia/Pacific		19.0			14.8
Taiwan		3.3			—
Japan		3.2			8.9
China		3.0			—
Australia		2.9			3.9
Hong Kong		2.2			1.2
Singapore		2.2			.8
South Korea		1.2			—
Other Asia/Pacific		1.0			—

Other		.3			.3

Bonds & notes, short-term securities
& other assets less liabilities		4.3			—

Total		100.0	%		100.0	%

*The MSCI World Index is weighted by market capitalization.

[End Sidebar]

A company-by-company approach

While regional and country returns can help characterize the economic climate, it is important to note that Capital World Growth and Income Fund’s investment professionals do not invest based on geography or sector. Investment decisions are made based on the fundamental merits of each individual company in the portfolio. This approach has resulted in a portfolio that is broadly diversified across both sectors and regions.

As you can see in the table below, eight of the fund’s 10 largest holdings posted double-digit gains during the recent six months. Of these, tobacco maker Philip Morris International (+26.12%) and top holding Novartis (+21.89%) showed particular strength. Only Microsoft (–0.79%) and Mexican telecommunications company América Móvil (–6.66%) declined.

On a sector basis, the fund’s consumer discretionary, utilities and consumer staples holdings supported the positive result. Among the fund’s top contributors from these sectors were Swedish automaker Volvo (+24.76%), seventh-largest holding GDF SUEZ (+11.10%) and Australian retailer Wesfarmers (+18.01%). And although the fund held lower concentrations in the energy and materials sectors relative to the MSCI World Index, holdings in those areas had particularly strong returns.

[Begin Sidebar]

Largest equity holdings
(as of May 31, 2011)
		Percent of			6-month
Company	Country	net assets			return

Novartis	Switzerland		3.01	%		21.89	%
AT&T	United States		2.13			13.57
Bayer	Germany		2.08			12.86
Philip Morris International	United States		2.07			26.12
Microsoft	United States		2.05			−0.79
BP	United Kingdom		1.91			16.44
GDF SUEZ	France		1.68			11.10
Royal Dutch Shell	United Kingdom		1.49			20.42
América Móvil	Mexico		1.40			−6.66
Kraft Foods	United States		1.19			15.60

[End Sidebar]

Looking ahead

The global economy continues to make measured progress, but still faces many of the same challenges that were evident in 2010. A comprehensive, long-term solution to the fiscal crisis in Greece and other European nations has yet to be found. In the weeks following the close of the period, however, European leaders agreed to release additional financial aid to Greece, with the country’s lawmakers approving further austerity measures. There are additional encouraging signs from Europe, among them the relative strength of the German economy (Europe’s largest). A number of other European nations also continue to show signs of strength. To be sure, Europe’s challenges are significant and we expect continued volatility in the near term.

The sustainability of growth in China, higher energy prices, political unrest in the Middle East and rising U.S. debt also remain concerns. Despite these challenges, we maintain a positive long-term outlook. The corporate balance sheets and valuations that inspired the positive results during the period continue to be strong. In addition, the developing world — China in particular — remains an engine for growth. It is important to remember that periods of volatility are also periods of opportunity for long-term investors. We continue to search for opportunities to add value for our shareholders by investing in strong companies at what we believe are attractive prices. As always, we adopt a long-term view of investing and encourage you to do the same.

We thank you for the confidence you have placed in us and look forward to reporting to you again in six months.

Cordially,

/s/ Michael Thawley

Michael Thawley

Vice Chairman of the Board

/s/ Mark E. Denning

Mark E. Denning

President

July 11, 2011

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

Summary investment portfolio May 31, 2011

unaudited

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

[begin pie chart]

Industry sector diversification	(percent of net assets)
Financials		14.31	%
Industrials		11.75
Consumer staples		10.73
Information technology		10.42
Consumer discretionary		10.10
Other industries		37.76
Convertible & preferred securities		0.66
Bonds & notes		0.63
Short-term securities & other assets less liabilities		3.64

[end pie chart]

Country diversification	(percent of net assets)
United States		28.6	%
Euro zone*		20.3
United Kingdom		10.7
Switzerland		6.6
Sweden		3.9
Taiwan		3.3
Japan		3.2
China		3.0
Australia		2.9
Hong Kong		2.2
Other countries		11.0
Bonds & notes, short-term securities & other assets less liabilities		4.3

*Countries using the euro as a common currency; those represented in the fund's portfolio are Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, the Netherlands and Spain.

						Percent
			Value			of net
Common stocks - 95.07%	Shares			(000	)	assets

Financials - 14.31%
Banco Santander, SA (1)		82,511,533	$	983,714			1.17	%
Société Générale (1)		15,657,748		933,122			1.11
Prudential PLC (1)		71,417,380		868,621			1.03
Industrial and Commercial Bank of China Ltd., Class H (1) (2)		967,827,995		812,117			.96
Credit Suisse Group AG (1) (2)		13,366,087		575,261			.68
HSBC Holdings PLC (Hong Kong) (1)		26,720,033		282,045
HSBC Holdings PLC (United Kingdom) (1)		20,476,231		214,137			.59
JPMorgan Chase & Co.		10,110,000		437,156			.52
Other securities				6,951,489			8.25
				12,057,662			14.31

Industrials - 11.75%
AB Volvo, Class B (1)		42,789,080		775,005			.92
Siemens AG (1)		5,610,000		750,737			.89
ASSA ABLOY AB, Class B (1)		22,535,000		627,108			.74
Schneider Electric SA (1)		3,716,477		613,571			.73
Jardine Matheson Holdings Ltd. (1)		9,598,800		502,979			.60
Union Pacific Corp.		4,475,700		469,814			.56
Other securities				6,159,083			7.31
				9,898,297			11.75

Consumer staples - 10.73%
Philip Morris International Inc.		24,351,000		1,747,184			2.07
Kraft Foods Inc., Class A		28,714,939		1,004,161			1.19
Altria Group, Inc.		33,282,300		933,901			1.11
Wesfarmers Ltd. (1)		23,072,090		821,025			.98
Nestlé SA (1)		9,193,330		590,516			.70
Lorillard, Inc.		3,959,000		456,393	��		.54
Danone SA (1)		5,938,845		435,791			.52
Anheuser-Busch InBev NV (1)		6,976,151		421,455
Anheuser-Busch InBev NV, VVPR STRIPS (1) (2)		3,247,475		14			.50
Other securities				2,625,408			3.12
				9,035,848			10.73

Information technology - 10.42%
Microsoft Corp.		69,255,000		1,732,068			2.05
HTC Corp. (1)		13,350,000		570,602			.68
MediaTek Inc. (1)		49,577,999		555,011			.66
QUALCOMM Inc.		7,660,000		448,799			.53
Nintendo Co., Ltd. (1)		1,833,500		427,629			.51
Other securities				5,041,880			5.99
				8,775,989			10.42

Consumer discretionary - 10.10%
Home Depot, Inc.		19,897,800		721,892			.86
DIRECTV, Class A (2)		13,722,000		689,668			.82
Honda Motor Co., Ltd. (1)		16,153,700		616,772			.73
Daimler AG (1)		8,363,158		590,631			.70
Virgin Media Inc. (3)		17,157,000		559,661			.67
Cie. Générale des Établissements Michelin, Class B (1)		4,831,000		453,563			.54
Other securities				4,870,818			5.78
				8,503,005			10.10

Telecommunication services - 9.26%
AT&T Inc.		56,840,000		1,793,870			2.13
América Móvil, SAB de CV, Series L (ADR)		22,372,599		1,179,036			1.40
Singapore Telecommunications Ltd. (1)		221,129,810		575,562			.68
TeliaSonera AB (1)		72,730,000		567,088			.67
Other securities				3,685,507			4.38
				7,801,063			9.26

Health care - 8.29%
Novartis AG (1)		39,124,063		2,530,109			3.01
Bayer AG (1)		21,387,000		1,753,003			2.08
Roche Holding AG (1)		3,941,100		693,699			.82
Merck & Co., Inc.		14,287,500		525,066			.62
Other securities				1,482,853			1.76
				6,984,730			8.29

Energy - 7.12%
BP PLC (1)		208,061,626		1,605,134			1.91
Royal Dutch Shell PLC, Class B (1)		19,512,746		709,149
Royal Dutch Shell PLC, Class A (1)		7,850,000		279,825
Royal Dutch Shell PLC, Class A (ADR)		3,044,000		217,433
Royal Dutch Shell PLC, Class B (ADR)		689,599		49,872			1.49
ConocoPhillips		11,011,000		806,225			.96
Eni SpA (1)		24,953,000		597,584			.71
Woodside Petroleum Ltd. (1)		9,366,282		467,194			.55
Other securities				1,262,672			1.50
				5,995,088			7.12

Utilities - 6.16%
GDF SUEZ (1)		38,420,049		1,415,649			1.68
Scottish and Southern Energy PLC (1)		36,238,336		824,014			.98
National Grid PLC (1)		48,820,000		503,757			.60
CEZ, a s (1)		7,994,000		440,672			.52
Other securities				2,004,265			2.38
				5,188,357			6.16

Materials - 4.15%
Other securities				3,499,011			4.15

Miscellaneous - 2.78%
Other common stocks in initial period of acquisition				2,342,601			2.78


Total common stocks (cost: $64,090,856,000)				80,081,651			95.07



Preferred securities - 0.24%


Financials - 0.23%
Other securities				191,173			.23

Miscellaneous - 0.01%
Other preferred securities in initial period of acquisition				10,237			.01


Total preferred securities (cost: $153,564,000)				201,410			.24




Convertible securities - 0.42%


Other - 0.29%
Other securities				246,299			.29

Miscellaneous - 0.13%
Other convertible securities in initial period of acquisition				107,753			.13


Total convertible securities (cost: $303,246,000)				354,052			.42



	Principal
	amount (000)
Bonds & notes - 0.63%

Energy - 0.16%
BP Capital Markets PLC 3.125%-5.25% 2012-2015	$	58,965		60,584			.07
Other securities				71,791			.09
				132,375			.16

Telecommunication services - 0.12%
América Móvil, SAB de CV 8.46% 2036	MXN 286,400			22,471			.03
Other securities				79,545			.09
				102,016			.12

Other - 0.35%
Other securities				297,583			.35


Total bonds & notes (cost: $446,257,000)				531,974			.63



Short-term securities - 3.39%


Freddie Mac 0.13%-0.301% due 6/21/2011-5/18/2012	$	815,665		815,091			.97
Société Générale North America, Inc. 0.20% due 7/19/2011		60,900		60,883			.07
Other securities				1,976,967			2.35


Total short-term securities (cost: $2,852,271,000)				2,852,941			3.39


Total investment securities (cost: $67,846,194,000)				84,022,028			99.75
Other assets less liabilities				212,514			.25

Net assets			$	84,234,542			100.00	%

As permitted by U.S. Securities and Exchange Commission regulations, “Miscellaneous” securities include holdings in their first year of acquisition that have not previously been publicly disclosed.

"Other securities" includes all issues that are not disclosed separately in the summary investment portfolio. Some of these securities (with an aggregate value of $1,443,631,000, which represented 1.71% of the net assets of the fund) may be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers.

Investments in affiliates
A company is considered to be an affiliate of the fund under the Investment Company Act of 1940 if the fund's holdings in that company represent 5% or more of the outstanding voting shares. The value of the fund's affiliated-company holdings is either shown in the summary investment portfolio or included in the value of "Other securities" under the respective industry sectors. Further details on such holdings and related transactions during the six months ended May 31, 2011, appear below.

	Beginning shares or principal amount		Additions		Reductions		Ending shares or principal amount		Dividend or interest income (000)		Value of affiliates at 5/31/2011 (000)
ComfortDelGro Corp. Ltd. (1)		135,100,000		-		-		135,100,000	$	3,080	$	161,032
Compal Electronics, Inc. (1)		287,352,418		26,932,000		31,050,779		283,233,639		-		343,985
Virgin Media Inc. 6.50% convertible notes 2016 (4)	$	25,515,000		-	$	18,415,000	$	7,100,000		665		13,623
Virgin Media Inc.		13,558,000		3,599,000		-		17,157,000		1,596		559,661
Virgin Media Finance PLC, Series 1, 9.50% 2016	$	15,725,000		-	$	15,725,000		-		344		-
Qantas Airways Ltd. (1) (2)		99,829,960		22,210,000		-		122,039,960		-		274,293
Acer Inc. (1)		147,294,687		-		3,849,000		143,445,687		-		282,130
Kesa Electricals PLC (1)		26,593,098		-		-		26,593,098		823		65,467
									$	6,508	$	1,700,191

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)Valued under fair value procedures adopted by authority of the board of directors. The total value of all such securities, including those in "Miscellaneous" and "Other securities," was $51,909,443,000, which represented 61.62% of the net assets of the fund. This amount includes $51,891,648,000 related to certain securities trading outside the U.S. whose values were adjusted as a result of significant market movements following the close of local trading.
(2)Security did not produce income during the last 12 months.
(3) Represents an affiliated company as defined under the Investment Company Act of 1940.
(4)This security was an unaffiliated issuer in its initial period of acquisition at 11/30/2010; it was not publicly disclosed.


Key to abbreviations

ADR = American Depositary Receipts
MXN = Mexican pesos


See Notes to Financial Statements

Financial statements

Statement of assets and liabilities			unaudited
at May 31, 2011	(dollars in thousands)

Assets:
Investment securities, at value:
Unaffiliated issuers (cost: $66,256,759)	$	82,321,837
Affiliated issuers (cost: $1,589,435)		1,700,191	$	84,022,028
Cash denominated in currencies other than U.S. dollars
(cost: $3,680)				3,682
Cash				250
Receivables for:
Sales of investments		133,380
Sales of fund's shares		101,443
Dividends and interest		327,277		562,100
				84,588,060
Liabilities:
Payables for:
Purchases of investments		150,297
Repurchases of fund's shares		114,384
Investment advisory services		26,612
Services provided by related parties		59,539
Directors' deferred compensation		1,119
Non-U.S. taxes		164
Other		1,403		353,518
Net assets at May 31, 2011			$	84,234,542

Net assets consist of:
Capital paid in on shares of capital stock			$	81,037,739
Undistributed net investment income				944,798
Accumulated net realized loss				(13,927,672	)
Net unrealized appreciation				16,179,677
Net assets at May 31, 2011			$	84,234,542

	(dollars and shares in thousands, except per-share amounts)
Total authorized capital stock - 4,000,000 shares, $.01 par value (2,205,201 total shares outstanding)

	Net assets		Shares outstanding		Net asset value per share
Class A	$	56,815,273		1,485,014	$	38.26
Class B		2,480,565		65,252		38.02
Class C		6,068,854		160,289		37.86
Class F-1		4,137,480		108,334		38.19
Class F-2		1,750,404		45,758		38.25
Class 529-A		2,330,193		61,057		38.16
Class 529-B		173,139		4,555		38.01
Class 529-C		615,919		16,213		37.99
Class 529-E		102,333		2,686		38.11
Class 529-F-1		71,509		1,872		38.20
Class R-1		319,032		8,411		37.93
Class R-2		1,383,355		36,548		37.85
Class R-3		2,596,523		68,256		38.04
Class R-4		2,352,952		61,623		38.18
Class R-5		1,534,539		40,086		38.28
Class R-6		1,502,472		39,247		38.28

See Notes to Financial Statements

Statement of operations				unaudited
for the six months ended May 31, 2011	(dollars in thousands)

Investment income:
Income:
Dividends (net of non-U.S. taxes of $134,671;
also includes $5,499 from affiliates)	$	1,507,528
Interest (net of non-U.S. taxes of $5;
also includes $1,009 from affiliates)		45,426		$	1,552,954

Fees and expenses*:
Investment advisory services		153,813
Distribution services		134,869
Transfer agent services		41,211
Administrative services		21,084
Reports to shareholders		1,948
Registration statement and prospectus		579
Directors' compensation		380
Auditing and legal		51
Custodian		6,089
State and local taxes		874
Other		1,904			362,802
Net investment income					1,190,152

Net realized gain and unrealized appreciation
on investments and currency:
Net realized gain on:
Investments (net of non-U.S. taxes of $2,357; also includes $1,504 net loss from affiliates)		1,515,399
Currency transactions		5,040			1,520,439
Net unrealized appreciation on:
Investments (net of non-U.S. taxes of $164)		8,209,779
Currency translations		4,194			8,213,973
Net realized gain and unrealized appreciation
on investments and currency					9,734,412
Net increase in net assets resulting
from operations				$	10,924,564

*Additional information related to class-specific fees and expenses is included in the Notes to Financial Statements.

See Notes to Financial Statements



Statements of changes in net assets
		(dollars in thousands)
	Six months			Year ended
	ended May 31,			November 30,
		2011*			2010
Operations:
Net investment income	$	1,190,152		$	1,940,975
Net realized gain on investments and currency transactions		1,520,439			728,209
Net unrealized appreciation (depreciation) on investments and currency translations		8,213,973			(991,842	)
Net increase in net assets resulting from operations		10,924,564			1,677,342

Dividends paid to shareholders from net investment income		(747,502	)		(1,992,126	)

Net capital share transactions		(2,864,715	)		(3,819,339	)

Total increase (decrease) in net assets		7,312,347			(4,134,123	)

Net assets:
Beginning of period		76,922,195			81,056,318
End of period (including undistributed
net investment income: $944,798 and $502,148, respectively)	$	84,234,542		$	76,922,195

*Unaudited

See Notes to Financial Statements

Notes to financial statements

unaudited

1.	Organization

Capital World Growth and Income Fund, Inc. (the "fund") is registered under the Investment Company Act of 1940 as an open-end, diversified management investment company. The fund seeks long-term growth of capital while providing current income. It invests on a global basis in a diversified portfolio consisting primarily of common stocks and other equity securities. In 2009, shareholders approved a proposal to reorganize the fund from a Maryland corporation to a Delaware statutory trust. The reorganization may be completed in 2011; however, the fund reserves the right to delay the implementation.

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 5.75%	None (except 1% for certain redemptions within one year of purchase without an initial sales charge)	None
Classes B and 529-B*	None	Declines from 5% to 0% for redemptions within six years of purchase	Classes B and 529-B convert to Classes A and 529-A, respectively, after eight years
Class C	None	1% for redemptions within one year of purchase	Class C converts to Class F-1 after 10 years
Class 529-C	None	1% for redemptions within one year of purchase	None
Class 529-E	None	None	None
Classes F-1, F-2 and 529-F-1	None	None	None
Classes R-1, R-2, R-3, R-4, R-5 and R-6	None	None	None

*Class B and 529-B shares of the fund are not available for purchase.

Holders of all share classes have equal pro rata rights to assets, dividends and liquidation proceeds. Each share class has identical voting rights, except for the exclusive right to vote on matters affecting only its class. Share classes have different fees and expenses ("class-specific fees and expenses"), primarily due to different arrangements for distribution, administrative and shareholder services. Differences in class-specific fees and expenses will result in differences in net investment income and, therefore, the payment of different per-share dividends by each 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 recognized on an accrual basis. Market discounts, premiums and original issue discounts on fixed-income securities are amortized daily over the expected life of the security.

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

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

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

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, or relevant local time for securities trading outside U.S. time zones, 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

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.

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 directors. Market quotations may be considered unreliable if events occur that materially affect the value of securities (particularly equity securities trading outside the U.S.) between the close of trading in those securities and the close of regular trading on the New York Stock Exchange. Various 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 table presents the fund’s valuation levels as of May 31, 2011 (dollars in thousands):

Investment securities:	Level 1		Level 2			Level 3		Total
Common stocks:
Financials	$	2,728,856	$	9,328,806	*	$	-	$	12,057,662
Industrials		2,988,627		6,909,670	*		-		9,898,297
Consumer staples		4,931,942		4,103,906	*		-		9,035,848
Information technology		4,471,422		4,304,567	*		-		8,775,989
Consumer discretionary		3,609,514		4,893,491	*		-		8,503,005
Telecommunication services		4,108,773		3,692,290	*		-		7,801,063
Health care		1,407,101		5,577,629	*		-		6,984,730
Energy		1,758,092		4,236,996	*		-		5,995,088
Utilities		830,119		4,358,238	*		-		5,188,357
Materials		492,889		3,006,122	*		-		3,499,011
Miscellaneous		862,668		1,479,933	*		-		2,342,601
Preferred securities		191,173		10,237			-		201,410
Convertible securities		89,630		264,422			-		354,052
Bonds & notes		-		531,974			-		531,974
Short-term securities		-		2,852,941			-		2,852,941
Total	$	28,470,806	$	55,551,222		$	-	$	84,022,028

*Includes certain securities trading outside the U.S. whose values were adjusted as a result of significant market movements following the close of local trading; therefore, $51,891,648,000 of investment securities were classified as Level 2 instead of Level 1.

4.	Risk factors

Investing in the fund may involve certain risks including, but not limited to, those described below.

Market conditions — The prices of, and the income generated by, the common stocks and other securities held by the fund may decline due to market conditions and other factors, including those directly involving the issuers of securities held by the fund.

Investing 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.

Investing in developing countries — Investing in countries with developing economies and/or markets may involve risks in addition to and greater than those generally associated with investing in developed countries. For instance, developing countries may have less developed legal and accounting systems than those in developed countries. The governments of these countries may be more unstable and more likely to impose capital controls, nationalize a company or industry, place restrictions on foreign ownership and on withdrawing sale proceeds of securities from the country, and/or impose punitive taxes that could adversely affect the prices of securities. In addition, the economies of these countries may be dependent on relatively few industries that are more susceptible to local and global changes. Securities markets in these countries can also be relatively small and have substantially lower trading volumes. As a result, securities issued in these countries may be more volatile and less liquid than securities issued in countries with more developed economies and/or markets. Because these markets may not be as mature, there may be increased settlement risks for transactions in local securities.

Investing in growth-oriented stocks — Growth-oriented stocks may involve larger price swings and greater potential for loss than other types of investments.

Investing in income-oriented stocks — Income provided by the fund may be reduced by changes in the dividend policies of, and the capital resources available at, the companies in which the fund invests.

Management — The investment adviser to the fund actively manages the fund’s investments. Consequently, the fund is subject to the risk that the methods and analyses employed by the investment adviser in this process may not produce the desired results. This could cause the fund to lose value or its 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 May 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, by state tax authorities for tax years before 2005 and by tax authorities outside the U.S. for tax years before 2004.

Non-U.S. taxation – Dividend and interest income are recorded net of non-U.S. taxes paid. Gains realized by the fund on the sale of securities in certain countries are subject to non-U.S. taxes. The fund records a liability based on unrealized gains to provide for potential non-U.S. taxes payable upon the sale of these securities.

Distributions – Distributions paid to shareholders are based on net investment income and net realized gains determined on a tax basis, which may differ from net investment income and net realized gains for financial reporting purposes. These differences are due primarily to different treatment for items such as currency gains and losses; short-term capital gains and losses; unrealized appreciation of certain investments in securities outside the U.S.; cost of investments sold; net capital losses; and non-U.S. taxes on capital gains. 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 November 30, 2010, the components of distributable earnings on a tax basis were as follows:

	(dollars in thousands)
Undistributed ordinary income					$	793,497
Post-October currency loss deferrals (realized during the period November 1, 2010, through November 30, 2010)*						(127	)
Capital loss carryforwards†:
Expiring 2016		$	(2,362,223	)
Expiring 2017			(13,178,426	)		(15,540,649	)
*These deferrals are considered incurred in the subsequent year. †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 November 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 May 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	$	18,849,051
Gross unrealized depreciation on investment securities		(2,872,210	)
Net unrealized appreciation on investment securities		15,976,841
Cost of investment securities		68,045,187

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

Share class	Six months ended May 31, 2011		Year ended November 30, 2010
Class A	$	534,088	$	1,419,723
Class B		14,812		50,896
Class C		34,813		114,584
Class F-1		38,590		105,936
Class F-2		17,118		36,252
Class 529-A		20,289		48,684
Class 529-B		935		3,202
Class 529-C		3,175		9,293
Class 529-E		762		1,932
Class 529-F-1		677		1,481
Class R-1		1,745		4,714
Class R-2		8,008		23,840
Class R-3		20,283		53,063
Class R-4		21,313		51,259
Class R-5		16,186		42,415
Class R-6		14,708		24,852
Total	$	747,502	$	1,992,126

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 fund has an investment advisory and service agreement with CRMC that provides for monthly fees accrued daily. These fees are based on a series of decreasing annual rates beginning with 0.600% on the first $500 million of daily net assets and decreasing to 0.350% on such assets in excess of $115 billion. For the six months ended May 31, 2011, the investment advisory services fee was $153,813,000, which was equivalent to an annualized rate of 0.375% of average daily net assets.

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

Distribution services – The fund has plans of distribution for all share classes, except Classes F-2, R-5 and R-6. Under the plans, the board of directors approves certain categories of expenses that are used to finance activities primarily intended to sell fund shares and service existing accounts. The plans provide for payments, based on an annualized percentage of average daily net assets, ranging from 0.30% to 1.00% as noted below. In some cases, the board of directors has limited the amounts that may be paid to less than the maximum allowed by the plans. All share classes 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, distribution-related expenses include 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 May 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 has a 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.

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 May 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	$	65,243	$	39,381	Not applicable		Not applicable		Not applicable
Class B		12,588		1,830	Not applicable		Not applicable		Not applicable
Class C		30,137	Included in administrative services		$	4,522	$	796	Not applicable
Class F-1		5,022				2,854		193	Not applicable
Class F-2	Not applicable					1,150		38	Not applicable
Class 529-A		2,315				1,065		220	$	1,094
Class 529-B		861				84		31		86
Class 529-C		2,897				282		88		291
Class 529-E		240				47		10		48
Class 529-F-1		-				32		9		33
Class R-1		1,488				203		24	Not applicable
Class R-2		5,034				991		1,670	Not applicable
Class R-3		6,230				1,840		609	Not applicable
Class R-4		2,814				1,653		40	Not applicable
Class R-5	Not applicable					725		14	Not applicable
Class R-6	Not applicable					338		4	Not applicable
Total	$	134,869	$	41,211	$	15,786	$	3,746	$	1,552

Directors’ deferred compensation – Directors who are unaffiliated with CRMC may elect to defer the cash payment of part or all of their compensation. These deferred amounts, which remain as liabilities of the fund, are treated as if invested in shares of the fund or other American Funds. These amounts represent general, unsecured liabilities of the fund and vary according to the total returns of the selected funds. Directors’ compensation of $380,000, shown on the accompanying financial statements, includes $271,000 in current fees (either paid in cash or deferred) and a net increase of $109,000 in the value of the deferred amounts.

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

7. Capital share transactions

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

	Sales*				Reinvestments of dividends and distributions				Repurchases*						Net (decrease) increase
Share class	Amount		Shares		Amount		Shares		Amount			Shares			Amount			Shares
Six months ended May 31, 2011
Class A	$	2,231,766		61,087	$	515,589		14,565	$	(4,976,879	)		(136,066	)	$	(2,229,524	)		(60,414	)
Class B		17,381		480		14,448		410		(326,808	)		(8,981	)		(294,979	)		(8,091	)
Class C		229,477		6,342		33,203		947		(721,943	)		(19,924	)		(459,263	)		(12,635	)
Class F-1		423,909		11,613		35,913		1,016		(652,860	)		(17,894	)		(193,038	)		(5,265	)
Class F-2		301,993		8,206		14,065		398		(227,697	)		(6,229	)		88,361			2,375
Class 529-A		184,534		5,073		20,284		574		(115,805	)		(3,176	)		89,013			2,471
Class 529-B		2,269		63		935		27		(18,876	)		(521	)		(15,672	)		(431	)
Class 529-C		52,957		1,462		3,175		90		(37,471	)		(1,034	)		18,661			518
Class 529-E		8,170		225		761		22		(5,494	)		(151	)		3,437			96
Class 529-F-1		9,872		269		677		19		(6,107	)		(168	)		4,442			120
Class R-1		35,650		984		1,736		49		(23,505	)		(648	)		13,881			385
Class R-2		167,614		4,633		7,997		228		(218,240	)		(6,021	)		(42,629	)		(1,160	)
Class R-3		320,999		8,821		20,240		575		(363,567	)		(9,989	)		(22,328	)		(593	)
Class R-4		301,252		8,239		21,304		603		(308,323	)		(8,438	)		14,233			404
Class R-5		193,567		5,291		16,142		456		(229,577	)		(6,245	)		(19,868	)		(498	)
Class R-6		223,390		6,103		14,635		413		(57,467	)		(1,569	)		180,558			4,947
Total net increase
(decrease)	$	4,704,800		128,891	$	721,104		20,392	$	(8,290,619	)		(227,054	)	$	(2,864,715	)		(77,771	)

Year ended November 30, 2010
Class A	$	5,025,669		150,761	$	1,358,119		41,656	$	(10,048,693	)		(305,718	)	$	(3,664,905	)		(113,301	)
Class B		52,990		1,592		49,546		1,535		(626,783	)		(19,087	)		(524,247	)		(15,960	)
Class C		596,548		18,046		106,619		3,322		(1,322,532	)		(40,591	)		(619,365	)		(19,223	)
Class F-1		978,714		29,455		97,778		3,005		(1,374,973	)		(41,920	)		(298,481	)		(9,460	)
Class F-2		698,708		21,193		27,783		853		(427,295	)		(13,136	)		299,196			8,910
Class 529-A		317,567		9,573		48,676		1,498		(189,211	)		(5,763	)		177,032			5,308
Class 529-B		5,201		157		3,201		99		(28,879	)		(881	)		(20,477	)		(625	)
Class 529-C		95,231		2,881		9,291		289		(68,610	)		(2,102	)		35,912			1,068
Class 529-E		15,153		457		1,931		60		(10,259	)		(312	)		6,825			205
Class 529-F-1		17,414		526		1,480		46		(8,429	)		(256	)		10,465			316
Class R-1		89,203		2,707		4,682		146		(42,709	)		(1,305	)		51,176			1,548
Class R-2		334,541		10,184		23,736		739		(365,536	)		(11,183	)		(7,259	)		(260	)
Class R-3		708,772		21,473		52,527		1,624		(655,398	)		(19,946	)		105,901			3,151
Class R-4		703,102		21,219		51,110		1,573		(532,522	)		(16,122	)		221,690			6,670
Class R-5		410,246		12,349		42,052		1,285		(672,851	)		(20,322	)		(220,553	)		(6,688	)
Class R-6		742,101		22,472		24,849		766		(139,199	)		(4,234	)		627,751			19,004
Total net increase
(decrease)	$	10,791,160		325,045	$	1,903,380		58,496	$	(16,513,879	)		(502,878	)	$	(3,819,339	)		(119,337	)

*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 $9,615,931,000 and $11,004,703,000, respectively, during the six months ended May 31, 2011.

Financial highlights(1)

				Income (loss) from investment operations(2)								Dividends and distributions
		Net asset value, beginning of period		Net investment income(3)		Net gains (losses) 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(4)(5)			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(5)			Ratio of net income to average net assets(3)(5)

Class A:	Six months ended 5/31/2011(6)	$	33.75	$	.55	$	4.31		$	4.86		$	(.35	)	$	-		$	(.35	)	$	38.26		14.49	%	$	56,815		.78	%(7)		.78	%(7)		3.00	%(7)
	Year ended 11/30/2010		33.80		.86		(.03	)		.83			(.88	)		-			(.88	)		33.75		2.57			52,156		.79			.79			2.59
	Year ended 11/30/2009		25.50		.78		8.52			9.30			(1.00	)		-			(1.00	)		33.80		37.48			56,058		.83			.83			2.80
	Year ended 11/30/2008		48.56		1.27		(19.81	)		(18.54	)		(1.18	)		(3.34	)		(4.52	)		25.50		(41.75	)		46,011		.75			.71			3.28
	Year ended 11/30/2007		42.82		1.24		7.40			8.64			(1.10	)		(1.80	)		(2.90	)		48.56		21.23			82,899		.73			.69			2.75
	Year ended 11/30/2006		36.99		.96		7.26			8.22			(.95	)		(1.44	)		(2.39	)		42.82		23.38			60,265		.73			.69			2.44

Class B:	Six months ended 5/31/2011(6)		33.53		.40		4.30			4.70			(.21	)		-			(.21	)		38.02		14.06			2,481		1.55	(7)		1.55	(7)		2.20	(7)
	Year ended 11/30/2010		33.58		.60		(.03	)		.57			(.62	)		-			(.62	)		33.53		1.80			2,459		1.56			1.56			1.82
	Year ended 11/30/2009		25.34		.57		8.46			9.03			(.79	)		-			(.79	)		33.58		36.43			2,999		1.61			1.61			2.04
	Year ended 11/30/2008		48.27		.96		(19.69	)		(18.73	)		(.86	)		(3.34	)		(4.20	)		25.34		(42.21	)		2,598		1.52			1.48			2.51
	Year ended 11/30/2007		42.58		.89		7.36			8.25			(.76	)		(1.80	)		(2.56	)		48.27		20.29			4,731		1.50			1.46			1.98
	Year ended 11/30/2006		36.79		.64		7.24			7.88			(.65	)		(1.44	)		(2.09	)		42.58		22.40			3,443		1.53			1.49			1.65

Class C:	Six months ended 5/31/2011(6)		33.40		.40		4.27			4.67			(.21	)		-			(.21	)		37.86		14.02			6,069		1.58	(7)		1.58	(7)		2.19	(7)
	Year ended 11/30/2010		33.45		.59		(.02	)		.57			(.62	)		-			(.62	)		33.40		1.78			5,775		1.59			1.59			1.80
	Year ended 11/30/2009		25.25		.56		8.43			8.99			(.79	)		-			(.79	)		33.45		36.42			6,428		1.61			1.61			2.01
	Year ended 11/30/2008		48.11		.95		(19.63	)		(18.68	)		(.84	)		(3.34	)		(4.18	)		25.25		(42.23	)		5,405		1.56			1.52			2.47
	Year ended 11/30/2007		42.46		.87		7.32			8.19			(.74	)		(1.80	)		(2.54	)		48.11		20.22			9,910		1.55			1.51			1.94
	Year ended 11/30/2006		36.69		.62		7.22			7.84			(.63	)		(1.44	)		(2.07	)		42.46		22.35			6,572		1.58			1.54			1.60

Class F-1:	Six months ended 5/31/2011(6)		33.69		.54		4.31			4.85			(.35	)		-			(.35	)		38.19		14.47			4,138		.80	(7)		.80	(7)		2.98	(7)
	Year ended 11/30/2010		33.74		.86		(.03	)		.83			(.88	)		-			(.88	)		33.69		2.58			3,827		.80			.80			2.60
	Year ended 11/30/2009		25.46		.79		8.50			9.29			(1.01	)		-			(1.01	)		33.74		37.49			4,152		.82			.81			2.83
	Year ended 11/30/2008		48.48		1.27		(19.78	)		(18.51	)		(1.17	)		(3.34	)		(4.51	)		25.46		(41.76	)		3,677		.76			.72			3.30
	Year ended 11/30/2007		42.76		1.23		7.38			8.61			(1.09	)		(1.80	)		(2.89	)		48.48		21.22			6,406		.75			.71			2.73
	Year ended 11/30/2006		36.94		.94		7.26			8.20			(.94	)		(1.44	)		(2.38	)		42.76		23.35			4,174		.76			.72			2.41

Class F-2:	Six months ended 5/31/2011(6)		33.75		.60		4.29			4.89			(.39	)		-			(.39	)		38.25		14.60			1,750		.55	(7)		.55	(7)		3.26	(7)
	Year ended 11/30/2010		33.79		.94		(.02	)		.92			(.96	)		-			(.96	)		33.75		2.86			1,464		.54			.54			2.84
	Year ended 11/30/2009		25.51		.72		8.64			9.36			(1.08	)		-			(1.08	)		33.79		37.80			1,165		.58			.58			2.42
	Period from 8/1/2008 to 11/30/2008		38.34		.23		(12.79	)		(12.56	)		(.27	)		-			(.27	)		25.51		(32.95	)		127		.18			.17			.83

Class 529-A:	Six months ended 5/31/2011(6)		33.67		.55		4.28			4.83			(.34	)		-			(.34	)		38.16		14.43			2,330		.83	(7)		.83	(7)		2.99	(7)
	Year ended 11/30/2010		33.72		.84		(.02	)		.82			(.87	)		-			(.87	)		33.67		2.54			1,972		.84			.84			2.54
	Year ended 11/30/2009		25.45		.77		8.49			9.26			(.99	)		-			(.99	)		33.72		37.41			1,796		.87			.86			2.75
	Year ended 11/30/2008		48.46		1.24		(19.76	)		(18.52	)		(1.15	)		(3.34	)		(4.49	)		25.45		(41.77	)		1,235		.80			.77			3.23
	Year ended 11/30/2007		42.75		1.21		7.37			8.58			(1.07	)		(1.80	)		(2.87	)		48.46		21.13			1,791		.80			.76			2.69
	Year ended 11/30/2006		36.93		.93		7.26			8.19			(.93	)		(1.44	)		(2.37	)		42.75		23.33			1,089		.79			.75			2.39

Class 529-B:	Six months ended 5/31/2011(6)		33.53		.39		4.28			4.67			(.19	)		-			(.19	)		38.01		13.98			173		1.64	(7)		1.64	(7)		2.13	(7)
	Year ended 11/30/2010		33.58		.57		(.02	)		.55			(.60	)		-			(.60	)		33.53		1.72			167		1.65			1.65			1.74
	Year ended 11/30/2009		25.35		.54		8.46			9.00			(.77	)		-			(.77	)		33.58		36.29			188		1.70			1.69			1.95
	Year ended 11/30/2008		48.28		.92		(19.70	)		(18.78	)		(.81	)		(3.34	)		(4.15	)		25.35		(42.26	)		140		1.62			1.58			2.41
	Year ended 11/30/2007		42.59		.84		7.37			8.21			(.72	)		(1.80	)		(2.52	)		48.28		20.15			214		1.61			1.58			1.87
	Year ended 11/30/2006		36.80		.60		7.23			7.83			(.60	)		(1.44	)		(2.04	)		42.59		22.25			142		1.64			1.60			1.53

Class 529-C:	Six months ended 5/31/2011(6)		33.51		.40		4.28			4.68			(.20	)		-			(.20	)		37.99		14.02			616		1.63	(7)		1.63	(7)		2.19	(7)
	Year ended 11/30/2010		33.57		.58		(.03	)		.55			(.61	)		-			(.61	)		33.51		1.71			526		1.64			1.64			1.75
	Year ended 11/30/2009		25.34		.54		8.47			9.01			(.78	)		-			(.78	)		33.57		36.32			491		1.69			1.68			1.93
	Year ended 11/30/2008		48.27		.92		(19.69	)		(18.77	)		(.82	)		(3.34	)		(4.16	)		25.34		(42.27	)		342		1.61			1.58			2.42
	Year ended 11/30/2007		42.59		.84		7.36			8.20			(.72	)		(1.80	)		(2.52	)		48.27		20.17			503		1.61			1.57			1.88
	Year ended 11/30/2006		36.80		.60		7.24			7.84			(.61	)		(1.44	)		(2.05	)		42.59		22.27			304		1.63			1.59			1.54

Class 529-E:	Six months ended 5/31/2011(6)	$	33.61	$	.49	$	4.30		$	4.79		$	(.29	)	$	-		$	(.29	)	$	38.11		14.32	%	$	102		1.12	%(7)		1.12	%(7)		2.70	%(7)
	Year ended 11/30/2010		33.67		.74		(.03	)		.71			(.77	)		-			(.77	)		33.61		2.21			87		1.13			1.13			2.25
	Year ended 11/30/2009		25.41		.68		8.49			9.17			(.91	)		-			(.91	)		33.67		37.03			80		1.18			1.17			2.43
	Year ended 11/30/2008		48.40		1.12		(19.74	)		(18.62	)		(1.03	)		(3.34	)		(4.37	)		25.41		(41.97	)		55		1.11			1.07			2.92
	Year ended 11/30/2007		42.69		1.07		7.38			8.45			(.94	)		(1.80	)		(2.74	)		48.40		20.76			83		1.10			1.07			2.38
	Year ended 11/30/2006		36.89		.81		7.23			8.04			(.80	)		(1.44	)		(2.24	)		42.69		22.92			53		1.11			1.08			2.06

Class 529-F-1:	Six months ended 5/31/2011(6)		33.70		.59		4.29			4.88			(.38	)		-			(.38	)		38.20		14.57			72		.63	(7)		.63	(7)		3.21	(7)
	Year ended 11/30/2010		33.75		.91		(.02	)		.89			(.94	)		-			(.94	)		33.70		2.74			59		.63			.63			2.75
	Year ended 11/30/2009		25.47		.82		8.50			9.32			(1.04	)		-			(1.04	)		33.75		37.68			49		.68			.67			2.93
	Year ended 11/30/2008		48.50		1.31		(19.76	)		(18.45	)		(1.24	)		(3.34	)		(4.58	)		25.47		(41.66	)		31		.61			.57			3.44
	Year ended 11/30/2007		42.78		1.31		7.36			8.67			(1.15	)		(1.80	)		(2.95	)		48.50		21.36			43		.60			.57			2.89
	Year ended 11/30/2006		36.95		1.00		7.27			8.27			(1.00	)		(1.44	)		(2.44	)		42.78		23.55			22		.61			.58			2.56

Class R-1:	Six months ended 5/31/2011(6)		33.46		.41		4.28			4.69			(.22	)		-			(.22	)		37.93		14.05			319		1.55	(7)		1.55	(7)		2.28	(7)
	Year ended 11/30/2010		33.52		.60		(.02	)		.58			(.64	)		-			(.64	)		33.46		1.80			269		1.56			1.56			1.84
	Year ended 11/30/2009		25.31		.57		8.45			9.02			(.81	)		-			(.81	)		33.52		36.45			217		1.58			1.58			2.02
	Year ended 11/30/2008		48.22		.96		(19.67	)		(18.71	)		(.86	)		(3.34	)		(4.20	)		25.31		(42.21	)		124		1.52			1.48			2.54
	Year ended 11/30/2007		42.55		.87		7.34			8.21			(.74	)		(1.80	)		(2.54	)		48.22		20.20			153		1.56			1.52			1.93
	Year ended 11/30/2006		36.78		.62		7.21			7.83			(.62	)		(1.44	)		(2.06	)		42.55		22.31			86		1.60			1.56			1.58

Class R-2:	Six months ended 5/31/2011(6)		33.39		.41		4.26			4.67			(.21	)		-			(.21	)		37.85		14.05			1,383		1.54	(7)		1.54	(7)		2.25	(7)
	Year ended 11/30/2010		33.45		.59		(.03	)		.56			(.62	)		-			(.62	)		33.39		1.77			1,259		1.57			1.57			1.81
	Year ended 11/30/2009		25.25		.55		8.43			8.98			(.78	)		-			(.78	)		33.45		36.34			1,270		1.66			1.66			1.95
	Year ended 11/30/2008		48.11		.93		(19.62	)		(18.69	)		(.83	)		(3.34	)		(4.17	)		25.25		(42.24	)		836		1.59			1.55			2.45
	Year ended 11/30/2007		42.46		.86		7.33			8.19			(.74	)		(1.80	)		(2.54	)		48.11		20.18			1,246		1.59			1.53			1.93
	Year ended 11/30/2006		36.70		.62		7.20			7.82			(.62	)		(1.44	)		(2.06	)		42.46		22.34			793		1.70			1.54			1.59

Class R-3:	Six months ended 5/31/2011(6)		33.56		.49		4.28			4.77			(.29	)		-			(.29	)		38.04		14.30			2,597		1.09	(7)		1.09	(7)		2.71	(7)
	Year ended 11/30/2010		33.61		.75		(.02	)		.73			(.78	)		-			(.78	)		33.56		2.27			2,311		1.10			1.10			2.29
	Year ended 11/30/2009		25.37		.69		8.48			9.17			(.93	)		-			(.93	)		33.61		37.07			2,208		1.13			1.13			2.47
	Year ended 11/30/2008		48.32		1.12		(19.70	)		(18.58	)		(1.03	)		(3.34	)		(4.37	)		25.37		(41.95	)		1,397		1.09			1.05			2.95
	Year ended 11/30/2007		42.63		1.07		7.36			8.43			(.94	)		(1.80	)		(2.74	)		48.32		20.77			1,901		1.10			1.07			2.39
	Year ended 11/30/2006		36.83		.80		7.24			8.04			(.80	)		(1.44	)		(2.24	)		42.63		22.86			1,138		1.13			1.09			2.05

Class R-4:	Six months ended 5/31/2011(6)		33.68		.55		4.30			4.85			(.35	)		-			(.35	)		38.18		14.48			2,353		.80	(7)		.80	(7)		3.02	(7)
	Year ended 11/30/2010		33.73		.85		(.02	)		.83			(.88	)		-			(.88	)		33.68		2.56			2,062		.81			.81			2.58
	Year ended 11/30/2009		25.46		.78		8.50			9.28			(1.01	)		-			(1.01	)		33.73		37.46			1,840		.83			.83			2.76
	Year ended 11/30/2008		48.48		1.23		(19.75	)		(18.52	)		(1.16	)		(3.34	)		(4.50	)		25.46		(41.77	)		1,159		.79			.76			3.25
	Year ended 11/30/2007		42.76		1.21		7.38			8.59			(1.07	)		(1.80	)		(2.87	)		48.48		21.13			1,509		.81			.77			2.69
	Year ended 11/30/2006		36.94		.92		7.26			8.18			(.92	)		(1.44	)		(2.36	)		42.76		23.28			860		.82			.78			2.35

Class R-5:	Six months ended 5/31/2011(6)		33.77		.60		4.31			4.91			(.40	)		-			(.40	)		38.28		14.64			1,535		.50	(7)		.50	(7)		3.29	(7)
	Year ended 11/30/2010		33.81		.95		(.02	)		.93			(.97	)		-			(.97	)		33.77		2.89			1,371		.50			.50			2.85
	Year ended 11/30/2009		25.51		.88		8.51			9.39			(1.09	)		-			(1.09	)		33.81		37.89			1,598		.53			.53			3.18
	Year ended 11/30/2008		48.58		1.35		(19.80	)		(18.45	)		(1.28	)		(3.34	)		(4.62	)		25.51		(41.61	)		1,399		.50			.46			3.54
	Year ended 11/30/2007		42.84		1.36		7.38			8.74			(1.20	)		(1.80	)		(3.00	)		48.58		21.49			1,921		.50			.47			3.01
	Year ended 11/30/2006		37.01		1.04		7.26			8.30			(1.03	)		(1.44	)		(2.47	)		42.84		23.63			1,023		.52			.48			2.64

Class R-6:	Six months ended 5/31/2011(6)		33.77		.63		4.29			4.92			(.41	)		-			(.41	)		38.28		14.67			1,502		.45	(7)		.45	(7)		3.42	(7)
	Year ended 11/30/2010		33.82		.98		(.04	)		.94			(.99	)		-			(.99	)		33.77		2.92			1,158		.46			.46			2.97
	Period from 5/1/2009 to 11/30/2009		26.05		.51		7.85			8.36			(.59	)		-			(.59	)		33.82		32.50			517		.49	(7)		.49	(7)		2.84	(7)

	Six months ended May 31,			Year ended November 30
	2011(6)			2010			2009			2008			2007			2006

Portfolio turnover rate for all share classes		12	%		25	%		44	%		37	%		30	%		30	%

(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)For the year ended November 30, 2007, this column reflects the impact of corporate action events that resulted in a one-time increase to net investment income. If the corporate action events had not occurred, the Class A net investment income per share and ratio of net income to average net assets would have been lower by $.13 and .29 percentage points, respectively. The impact to the other share classes would have been similar.

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

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

(6)Unaudited.

(7)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 (December 1, 2010, through May 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 12/1/2010		Ending account value 5/31/2011		Expenses paid during period*		Annualized expense ratio

Class A -- actual return	$	1,000.00	$	1,144.89	$	4.17		.78	%
Class A -- assumed 5% return		1,000.00		1,021.04		3.93		.78
Class B -- actual return		1,000.00		1,140.64		8.27		1.55
Class B -- assumed 5% return		1,000.00		1,017.20		7.80		1.55
Class C -- actual return		1,000.00		1,140.19		8.43		1.58
Class C -- assumed 5% return		1,000.00		1,017.05		7.95		1.58
Class F-1 -- actual return		1,000.00		1,144.67		4.28		.80
Class F-1 -- assumed 5% return		1,000.00		1,020.94		4.03		.80
Class F-2 -- actual return		1,000.00		1,145.97		2.94		.55
Class F-2 -- assumed 5% return		1,000.00		1,022.19		2.77		.55
Class 529-A -- actual return		1,000.00		1,144.30		4.44		.83
Class 529-A -- assumed 5% return		1,000.00		1,020.79		4.18		.83
Class 529-B -- actual return		1,000.00		1,139.84		8.75		1.64
Class 529-B -- assumed 5% return		1,000.00		1,016.75		8.25		1.64
Class 529-C -- actual return		1,000.00		1,140.16		8.70		1.63
Class 529-C -- assumed 5% return		1,000.00		1,016.80		8.20		1.63
Class 529-E -- actual return		1,000.00		1,143.22		5.98		1.12
Class 529-E -- assumed 5% return		1,000.00		1,019.35		5.64		1.12
Class 529-F-1 -- actual return		1,000.00		1,145.73		3.37		.63
Class 529-F-1 -- assumed 5% return		1,000.00		1,021.79		3.18		.63
Class R-1 -- actual return		1,000.00		1,140.52		8.27		1.55
Class R-1 -- assumed 5% return		1,000.00		1,017.20		7.80		1.55
Class R-2 -- actual return		1,000.00		1,140.50		8.22		1.54
Class R-2 -- assumed 5% return		1,000.00		1,017.25		7.75		1.54
Class R-3 -- actual return		1,000.00		1,142.99		5.82		1.09
Class R-3 -- assumed 5% return		1,000.00		1,019.50		5.49		1.09
Class R-4 -- actual return		1,000.00		1,144.75		4.28		.80
Class R-4 -- assumed 5% return		1,000.00		1,020.94		4.03		.80
Class R-5 -- actual return		1,000.00		1,146.41		2.68		.50
Class R-5 -- assumed 5% return		1,000.00		1,022.44		2.52		.50
Class R-6 -- actual return		1,000.00		1,146.68		2.41		.45
Class R-6 -- assumed 5% return		1,000.00		1,022.69		2.27		.45

*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).

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 for periods ended June 30, 2011
(the most recent calendar quarter-end):
							10 years1/
							Life
	1 year			5 years			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		23.45	%		3.39	%		7.71	%
Not reflecting CDSC		28.45			3.72			7.71

Class C shares
Reflecting CDSC, maximum of 1%, payable only
if shares are sold within one year of purchase		27.40			3.69			7.48
Not reflecting CDSC		28.40			3.69			7.48

Class F-1 shares3
Not reflecting annual asset-based fee charged
by sponsoring firm		29.38			4.52			8.33

Class F-2 shares3 — first sold 8/1/08
Not reflecting annual asset-based fee charged
by sponsoring firm		29.73			—			2.26

Class 529-A shares4 — first sold 2/15/02
Reflecting 5.75% maximum sales charge		21.89			3.24			8.89
Not reflecting maximum sales charge		29.33			4.47			9.58

Class 529-B shares2,4 — first sold 2/21/02
Reflecting applicable CDSC, maximum of 5%, payable
only if shares are sold within six years of purchase		23.30			3.29			8.97
Not reflecting CDSC		28.30			3.62			8.97

Class 529-C shares4 — first sold 2/22/02
Reflecting CDSC, maximum of 1%, payable only
if shares are sold within one year of purchase		27.29			3.62			8.85
Not reflecting CDSC		28.29			3.62			8.85

Class 529-E shares3,4 — first sold 3/4/02		28.99			4.16			8.90

Class 529-F-1 shares3,4 — first sold 9/17/02
Not reflecting annual asset-based fee charged
by sponsoring firm		29.58			4.67			11.62

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.

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

O’Melveny & Myers LLP

400 South Hope Street

Los Angeles, CA 90071-2899

Independent registered public accounting firm

PricewaterhouseCoopers LLP

350 South Grand Avenue

Los Angeles, CA 90071-2889

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 May 31, 2011, portfolio of Capital World Growth and Income 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 Growth and Income 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 Growth and Income 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 September 30, 2011, this report must be accompanied by an American Funds statistical update for the most recently completed calendar quarter.

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

Lit. No. MFGESR-933-0711P

Litho in USA WG/RRD/6269-S28737

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 Growth and Income FundSM

Investment portfolio

May 31, 2011

unaudited

Common stocks — 95.07%	Shares			Value (000)

FINANCIALS — 14.31%
Banco Santander, SA1		82,511,533		$	983,714
Société Générale1		15,657,748			933,122
Prudential PLC1		71,417,380			868,621
Industrial and Commercial Bank of China Ltd., Class H1,2		967,827,995			812,117
Credit Suisse Group AG1,2		13,366,087			575,261
HSBC Holdings PLC (Hong Kong)1		26,720,033			282,045
HSBC Holdings PLC (United Kingdom)1		20,476,231			214,137
JPMorgan Chase & Co.		10,110,000			437,156
China Construction Bank Corp., Class H1		440,805,735			417,329
Wells Fargo & Co.		14,655,000			415,762
Bank of China Ltd., Class H1,2		643,359,200			356,825
AIA Group Ltd.1,2		92,833,800			327,933
Deutsche Bank AG1		4,948,618			294,927
Bank of America Corp.		24,935,871			292,997
Woori Finance Holdings Co., Ltd.1		20,047,350			258,057
Banco Santander (Brasil) SA, units (ADR)		11,669,925			132,570
Banco Santander (Brasil) SA, units		11,029,950			124,788
Itaú Unibanco Holding SA, preferred nominative (ADR)		8,888,045			202,914
Itaú Unibanco Holding SA, preferred nominative		1,771,000			40,230
CapitaMall Trust, units1		144,633,700			234,584
UBS AG1,2		11,769,123			226,167
BNP Paribas SA1		2,745,562			214,805
Banco Bradesco SA, preferred nominative		10,419,811			204,863
Sun Hung Kai Properties Ltd.1		13,128,000			204,410
Ping An Insurance (Group) Co. of China, Ltd., Class H1		17,085,000			183,739
Citigroup Inc.		3,925,000			161,514
Vienna Insurance Group1		2,792,714			158,974
Lloyds Banking Group PLC1,2		180,591,537			154,872
Sampo Oyj, Class A1		4,225,974			138,540
DnB NOR ASA1		9,068,033			136,880
Link Real Estate Investment Trust1		39,859,000			135,607
China Life Insurance Co. Ltd., Class H1		38,085,000			133,453
Erste Bank der oesterreichischen Sparkassen AG1		2,613,645			130,511
Toronto-Dominion Bank		1,370,000			118,087
Kerry Properties Ltd.1		23,104,405			118,034
Bank of New York Mellon Corp.		4,000,000			112,440
Barclays PLC1		24,591,602			112,375
Hang Seng Bank Ltd.1		7,000,000			112,314
Siam Commercial Bank PCL1		27,072,000			102,656
UniCredit SpA1		44,540,800			101,611
Banco Bilbao Vizcaya Argentaria, SA1		8,150,000			95,477
Kimco Realty Corp.		4,132,329			80,622
Deutsche Börse AG1		1,000,000			79,064
Canadian Imperial Bank of Commerce (CIBC)		900,000			74,603
Weyerhaeuser Co.		3,359,686			72,368
Discover Financial Services		3,000,000			71,520
State Street Corp.		1,500,000			68,655
Fidelity National Financial, Inc.		3,972,500			63,481
PT Bank Rakyat Indonesia (Persero) Tbk1		64,780,000			48,330
Sino Land Co. Ltd.1		26,394,650			46,485
Chimera Investment Corp.		9,665,000			37,790
Swire Pacific Ltd., Class A1		2,350,000			36,221
Hongkong Land Holdings Ltd.1		3,670,000			27,197
AXA SA1		1,095,082			23,453
ICICI Bank Ltd.1		934,200			22,427
ICICI Bank Ltd. (ADR)		4,000			191
Starwood Property Trust, Inc.		750,000			16,305
GAGFAH SA1		1,919,471			14,953
Hana Financial Holdings1		210,000			7,521
Shinhan Financial Group Co., Ltd.1		90,000			4,058
					12,057,662


INDUSTRIALS — 11.75%
AB Volvo, Class B1		42,789,080			775,005
Siemens AG1		5,610,000			750,737
ASSA ABLOY AB, Class B1		22,535,000			627,108
Schneider Electric SA1		3,716,477			613,571
Jardine Matheson Holdings Ltd.1		9,598,800			502,979
Union Pacific Corp.		4,475,700			469,814
Atlas Copco AB, Class A1		10,865,000			287,360
Atlas Copco AB, Class B1		5,005,000			118,483
United Technologies Corp.		4,325,000			379,605
CSX Corp.		4,706,355			373,214
KONE Oyj, Class B1		4,940,672			312,204
Komatsu Ltd.1		9,500,000			284,321
3M Co.		2,965,000			279,837
BAE Systems PLC1		50,924,770			277,783
Legrand SA1		6,545,904			277,517
Qantas Airways Ltd.1,2,3		122,039,960			274,293
PACCAR Inc		5,000,000			250,000
General Electric Co.		12,000,000			235,680
Hutchison Port Holdings Trust1,2,4		240,182,000			225,794
Lockheed Martin Corp.		2,735,000			213,056
Kühne + Nagel International AG1		1,174,050			184,995
Singapore Technologies Engineering Ltd1		76,260,000			183,548
SGS SA1		81,707			162,531
United Parcel Service, Inc., Class B		2,200,000			161,678
ComfortDelGro Corp. Ltd.1,3		135,100,000			161,032
Brambles Ltd.1		19,966,803			157,177
Ryanair Holdings PLC (ADR)		4,900,000			144,060
Waste Management, Inc.		3,300,302			128,316
Geberit AG1,2		500,000			120,750
Marubeni Corp.1		17,060,000			119,523
Southwest Airlines Co.		9,433,300			111,596
Deutsche Post AG1		5,565,000			104,884
Eaton Corp.		2,000,000			103,340
MAp Group1		28,909,681			95,505
FirstGroup PLC1		16,327,000			90,815
Norfolk Southern Corp.		986,000			72,284
Air France1,2		4,155,600			69,958
General Dynamics Corp.		860,000			63,829
Singapore Post Private Ltd.1		43,500,000			40,208
Jiangsu Expressway Co. Ltd., Class H1		34,260,000			35,790
Finmeccanica SpA1		2,740,000			34,172
Ellaktor SA1		4,459,437			16,563
Asahi Glass Co., Ltd.1		429,000			5,064
Contax Participações SA, ordinary nominative		152,400			2,318
					9,898,297


CONSUMER STAPLES — 10.73%
Philip Morris International Inc.		24,351,000			1,747,184
Kraft Foods Inc., Class A		28,714,939			1,004,161
Altria Group, Inc.		33,282,300			933,901
Wesfarmers Ltd.1		23,072,090			821,025
Nestlé SA1		9,193,330			590,516
Lorillard, Inc.		3,959,000			456,393
Danone SA1		5,938,845			435,791
Anheuser-Busch InBev NV1		6,976,151			421,455
Anheuser-Busch InBev NV, VVPR STRIPS1,2		3,247,475			14
Diageo PLC1		15,699,500			334,668
Tingyi (Cayman Islands) Holding Corp.1		86,020,000			262,768
British American Tobacco PLC1		5,352,000			240,545
Procter & Gamble Co.		3,000,000			201,000
Pernod Ricard SA1		1,905,504			193,155
Imperial Tobacco Group PLC1		4,990,000			178,900
Wilmar International Ltd.1		37,193,000			161,008
Coca-Cola Co.		2,169,400			144,938
Foster’s Group Ltd.1		29,036,411			135,181
SABMiller PLC1		3,580,000			132,730
PepsiCo, Inc.		1,850,500			131,608
Avon Products, Inc.		3,265,000			97,003
Ralcorp Holdings, Inc.2		1,079,000			94,887
Kellogg Co.		1,563,400			89,098
Tesco PLC1		12,085,000			83,488
L’Oréal SA1		508,100			64,061
Koninklijke Ahold NV1		3,400,597			48,601
Molson Coors Brewing Co., Class B		681,000			31,769
					9,035,848


INFORMATION TECHNOLOGY — 10.42%
Microsoft Corp.		69,255,000			1,732,068
HTC Corp.1		13,350,000			570,602
MediaTek Inc.1		49,577,999			555,011
QUALCOMM Inc.		7,660,000			448,799
Nintendo Co., Ltd.1		1,833,500			427,629
Canon, Inc.1		8,569,100			413,254
Redecard SA, ordinary nominative		23,339,200			352,067
Oracle Corp.		10,167,000			347,915
Compal Electronics, Inc.1,3		283,233,639			343,985
Corning Inc.		15,830,000			318,975
Delta Electronics, Inc.1		72,582,920			289,641
Acer Inc.1,3		143,445,687			282,130
Telefonaktiebolaget LM Ericsson, Class B1		17,877,220			265,062
Quanta Computer Inc.1		115,473,850			262,902
HOYA Corp.1		12,573,000			261,291
Cielo SA, ordinary nominative		9,836,080			245,006
Automatic Data Processing, Inc.		4,040,000			222,644
Siliconware Precision Industries Co., Ltd.1		139,165,000			186,403
Taiwan Semiconductor Manufacturing Co. Ltd. (ADR)		10,049,998			137,283
Taiwan Semiconductor Manufacturing Co. Ltd.1		14,072,766			37,622
Accenture PLC, Class A		2,770,000			158,970
Samsung Electronics Co. Ltd.1		183,500			153,814
Wistron Corp.1		77,905,028			147,096
Maxim Integrated Products, Inc.		4,898,000			133,471
Intel Corp.		5,000,000			112,550
Yahoo! Inc.2		5,400,000			89,370
Nokia Corp.1		5,971,000			41,704
Nokia Corp. (ADR)		4,169,800			29,272
Analog Devices, Inc.		1,520,186			62,586
International Business Machines Corp.		257,000			43,415
Murata Manufacturing Co., Ltd.1		665,700			42,009
Google Inc., Class A2		70,000			37,031
Amadeus IT Holding, SA, Class A1,2		1,185,000			24,412
					8,775,989


CONSUMER DISCRETIONARY — 10.10%
Home Depot, Inc.		19,897,800			721,892
DIRECTV, Class A2		13,722,000			689,668
Honda Motor Co., Ltd.1		16,153,700			616,772
Daimler AG1		8,363,158			590,631
Virgin Media Inc.3		17,157,000			559,661
Cie. Générale des Établissements Michelin, Class B1		4,831,000			453,563
British Sky Broadcasting Group PLC1		29,657,000			406,203
Bayerische Motoren Werke AG1		2,579,800			228,754
Bayerische Motoren Werke AG, nonvoting preferred1		2,580,000			154,574
Hyundai Motor Co.1		1,610,000			378,083
General Motors Co.2		10,446,450			332,302
Marks and Spencer Group PLC1		41,616,187			273,791
OPAP SA1		14,822,910			272,723
Renault SA1		4,572,831			260,273
Time Warner Cable Inc.		3,309,600			255,567
McDonald’s Corp.		2,500,000			203,850
Comcast Corp., Class A		7,960,000			200,910
Toyota Motor Corp.1		4,765,300			198,402
H & M Hennes & Mauritz AB, Class B1		4,508,000			167,674
YUM! Brands, Inc.		2,585,000			143,002
Kohl’s Corp.		2,505,000			133,366
Johnson Controls, Inc.		3,250,000			128,700
Industria de Diseño Textil, SA1		1,342,696			122,152
adidas AG, non-registered shares1		1,605,000			120,908
News Corp., Class A		6,390,458			117,201
Whitbread PLC1		4,030,096			108,266
Li & Fung Ltd.1		44,544,000			99,018
Intercontinental Hotels Group PLC1		4,558,044			97,510
Kingfisher PLC1		16,730,999			79,278
Kesa Electricals PLC1,3		26,593,098			65,467
WPP PLC1		4,986,000			62,421
Staples, Inc.		3,500,000			58,870
Time Warner Inc.		1,370,000			49,909
Myer Holdings Ltd.1		8,300,000			25,469
Aristocrat Leisure Ltd.1		8,517,734			24,890
Jumbo SA1		2,894,019			22,073
Esprit Holdings Ltd.1		5,437,018			20,472
Stella International Holdings Ltd.1		7,392,500			19,016
D.R. Horton, Inc.		1,200,000			14,616
Dixons Retail PLC1,2		39,752,154			12,829
Swatch Group Ltd1,2		137,072			12,279
					8,503,005


TELECOMMUNICATION SERVICES — 9.26%
AT&T Inc.		56,840,000			1,793,870
América Móvil, SAB de CV, Series L (ADR)		22,372,599			1,179,036
Singapore Telecommunications Ltd.1		221,129,810			575,562
TeliaSonera AB1		72,730,000			567,088
France Télécom SA1		17,997,060			412,474
CenturyLink, Inc.		9,240,783			399,109
Turkcell Iletisim Hizmetleri AS1,2		67,063,000			375,427
OJSC Mobile TeleSystems (ADR)		17,456,542			353,844
Vodafone Group PLC1		109,859,500			305,860
BCE Inc.		7,540,000			303,514
SOFTBANK CORP.1		5,490,000			213,466
Millicom International Cellular SA (SDR)1,2		1,840,000			213,200
Telekom Austria AG, non-registered shares1		14,147,216			183,450
Türk Telekomünikasyon AS, Class D1		39,150,000			177,169
Belgacom SA1		4,962,819			173,559
Philippine Long Distance Telephone Co. (ADR)		1,462,788			79,400
Philippine Long Distance Telephone Co.1		1,437,335			77,924
Koninklijke KPN NV1		5,913,100			86,961
Advanced Info Service PCL1		25,877,600			82,730
Telefónica, SA1		2,831,007			68,792
Telefónica Czech Republic, AS1		2,714,500			65,520
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk, Class B1		54,204,000			48,853
MTN Group Ltd.1		2,100,000			44,832
Bezeq — The Israel Telecommunication Corp. Ltd.1		7,640,000			19,423
					7,801,063


HEALTH CARE — 8.29%
Novartis AG1		39,124,063			2,530,109
Bayer AG1		21,387,000			1,753,003
Roche Holding AG1		3,941,100			693,699
Merck & Co., Inc.		14,287,500			525,066
Abbott Laboratories		5,850,000			305,662
Merck KGaA1		2,218,920			243,896
UCB SA1		3,510,000			167,762
Amgen Inc.2		2,727,300			165,111
Eli Lilly and Co.		4,000,000			153,920
Bristol-Myers Squibb Co.		4,814,300			138,459
Grifols, SA1		3,538,000			72,261
Boston Scientific Corp.2		10,000,000			71,800
Sonic Healthcare Ltd.1		4,875,000			64,250
Orion Oyj, Class B1		2,024,201			52,649
Teva Pharmaceutical Industries Ltd. (ADR)		925,000			47,083
					6,984,730


ENERGY — 7.12%
BP PLC1		208,061,626			1,605,134
Royal Dutch Shell PLC, Class B1		19,512,746			709,149
Royal Dutch Shell PLC, Class A1		7,850,000			279,825
Royal Dutch Shell PLC, Class A (ADR)		3,044,000			217,433
Royal Dutch Shell PLC, Class B (ADR)		689,599			49,872
ConocoPhillips		11,011,000			806,225
Eni SpA1		24,953,000			597,584
Woodside Petroleum Ltd.1		9,366,282			467,194
EOG Resources, Inc.		2,148,500			234,487
OAO Gazprom (ADR)1		9,024,000			133,522
China National Offshore Oil Corp.1		51,839,900			131,136
Devon Energy Corp.		1,500,000			126,105
Türkiye Petrol Rafinerileri AS1		4,037,000			105,997
Husky Energy Inc.		3,456,000			105,765
Canadian Natural Resources, Ltd.		2,080,000			90,534
SeaDrill Ltd.1		2,400,000			87,110
TOTAL SA1		1,199,000			69,401
Chevron Corp.		645,000			67,667
Schlumberger Ltd.		700,000			60,004
Sasol Ltd.1		957,000			50,944
					5,995,088


UTILITIES — 6.16%
GDF SUEZ1		38,420,049			1,415,649
Scottish and Southern Energy PLC1		36,238,336			824,014
National Grid PLC1		48,820,000			503,757
CEZ, a s1		7,994,000			440,672
SUEZ Environnement Co.1		18,112,264			381,942
International Power PLC1		55,624,704			292,745
Public Service Enterprise Group Inc.		6,795,000			227,633
Dominion Resources, Inc.		4,456,422			212,660
FirstEnergy Corp.		4,495,000			200,567
E.ON AG1		6,880,000			195,215
Exelon Corp.		3,000,000			125,550
NTPC Ltd.1		29,619,270			110,637
Power Assets Holdings Ltd.1		12,339,500			88,175
RWE AG1		1,500,000			87,739
PPL Corp.		2,260,000			63,709
China Resources Power Holdings Co. Ltd.1		8,800,000			17,693
					5,188,357


MATERIALS — 4.15%
ArcelorMittal1		11,782,654			395,589
Syngenta AG1,2		1,100,500			380,094
Akzo Nobel NV1		4,350,000			314,604
BASF SE1		3,368,000			311,182
Dow Chemical Co.		8,195,000			296,085
Amcor Ltd.1		30,684,007			237,129
Linde AG1		1,274,000			215,502
Koninklijke DSM NV1		3,132,000			210,038
CRH PLC1		9,405,253			205,166
Rautaruukki Oyj1		6,689,570			158,189
Svenska Cellulosa AB SCA, Class B1		10,114,000			157,361
Holcim Ltd1,2		1,240,908			98,976
POSCO1		211,230			85,946
Israel Chemicals Ltd.1		5,090,000			82,732
Praxair, Inc.		763,120			80,769
Sherwin-Williams Co.		870,000			76,421
voestalpine AG1		1,397,000			70,036
OneSteel Ltd.1		23,851,217			48,127
Usinas Siderúrgicas de Minas Gerais SA — USIMINAS, Class A, preferred nominative		4,125,500			39,614
PT Semen Gresik (Persero) Tbk1		31,188,000			35,451
					3,499,011


MISCELLANEOUS — 2.78%
Other common stocks in initial period of acquisition					2,342,601


Total common stocks (cost: $64,090,856,000)					80,081,651




	Principal amount			Value
Preferred securities — 0.24%		(000	)		(000	)

FINANCIALS — 0.23%
Mizuho Capital Investment (USD) 2 Ltd. 14.95%4,5	$	60,000		$	76,053
JPMorgan Chase & Co., Series I, 7.90%5		41,090			45,413
Wells Fargo & Co., Series K, 7.98%5		32,933			36,350
Lloyds Banking Group PLC 6.657% preference shares4,5		30,300			23,710
Barclays Bank PLC, Series RCI, 14.00%5		4,520			9,647
					191,173


MISCELLANEOUS — 0.01%
Other preferred securities in initial period of acquisition					10,237


Total preferred securities (cost: $153,564,000)					201,410



	Shares or
Convertible securities — 0.42%	principal amount

CONSUMER DISCRETIONARY — 0.17%
MGM Resorts International 4.25% convertible notes 2015	$	95,995,000			111,954
Johnson Controls, Inc. 11.50% convertible preferred 2012, units1		92,500			17,795
Virgin Media Inc. 6.50% convertible notes 20163	$	7,100,000			13,623
					143,372


TELECOMMUNICATION SERVICES — 0.05%
Clearwire Corp. 8.25% convertible notes 20404	$	44,385,000			44,718


INDUSTRIALS — 0.05%
JetBlue Airways Corp., Series A, 6.75% convertible notes 2039	$	3,995,000			5,933
JetBlue Airways Corp., Series B, 6.75% convertible notes 2039	$	3,925,000			5,971
JetBlue Airways Corp., Series A, convertible notes 5.50% 2038	$	3,250,000			4,871
JetBlue Airways Corp., Series B, convertible notes 5.50% 2038	$	3,240,000			5,135
United Continental Holdings, Inc. 4.50% convertible debentures 2015	$	4,700,000			6,979
United Continental Holdings, Inc. 6.00% convertible preferred 2030		253,000			9,966
AMR Corp. 6.25% convertible notes 2014	$	4,790,000			4,957
					43,812


FINANCIALS — 0.02%
National Financial Partners Corp. 4.00% convertible notes 20174	$	7,000,000			8,610
Old Republic International Corp. 8.00% convertible notes 2012	$	5,000,000			5,787
					14,397


MISCELLANEOUS — 0.13%
Other convertible securities in initial period of acquisition					107,753


Total convertible securities (cost: $303,246,000)					354,052



	Principal amount
Bonds & notes — 0.63%		(000	)

FINANCIALS — 0.28%
ProLogis 6.625% 2018	$	13,682			15,361
ProLogis 7.375% 2019		20,568			24,064
ProLogis 6.875% 2020		18,605			21,158
Regions Financial Corp. 6.375% 2012		30,584			31,471
Regions Financial Corp. 7.75% 2014		12,420			13,626
Regions Bank 7.50% 2018		3,300			3,577
HBOS PLC 6.75% 20184		36,490			36,882
Developers Diversified Realty Corp. 5.50% 2015		3,744			4,004
Developers Diversified Realty Corp. 9.625% 2016		3,650			4,495
Developers Diversified Realty Corp. 7.50% 2017		10,210			11,870
Developers Diversified Realty Corp. 7.875% 2020		8,075			9,460
Simon Property Group, LP 5.25% 2016		3,540			3,934
Simon Property Group, LP 6.10% 2016		860			991
Simon Property Group, LP 5.875% 2017		165			188
Simon Property Group, LP 6.125% 2018		890			1,019
Simon Property Group, LP 10.35% 2019		11,635			16,447
AXA SA 8.60% 2030		8,000			10,029
Standard Chartered Bank 6.40% 20174		8,451			9,524
Discover Financial Services 6.45% 2017		3,057			3,442
Discover Financial Services 10.25% 2019		4,334			5,788
ERP Operating LP 5.125% 2016		2,886			3,161
ERP Operating LP 5.75% 2017		2,055			2,319
Westfield Group 5.40% 20124		530			559
Capital One Capital III 7.686% 20365		165			170
					233,539


ENERGY — 0.16%
Gazprom OJSC 8.146% 2018		4,415			5,287
Gazprom OJSC, Series 9, 6.51% 2022		30,710			33,130
Gazprom OJSC, Series 2, 8.625% 2034		1,015			1,287
Gazprom OJSC 7.288% 2037		28,210			31,313
Gazprom OJSC 7.288% 20374		365			405
BP Capital Markets PLC 3.125% 2012		48,310			49,220
BP Capital Markets PLC 5.25% 2013		3,335			3,624
BP Capital Markets PLC 3.875% 2015		7,320			7,740
Petroplus Finance Ltd. 6.75% 20144		375			369
					132,375


TELECOMMUNICATION SERVICES — 0.12%
MTS International Funding Ltd. 8.625% 20204		29,865			34,316
MTS International Funding Ltd. 8.625% 2020		2,065			2,373
Nextel Communications, Inc., Series F, 5.95% 2014		31,525			31,919
América Móvil, SAB de CV 8.46% 2036	MXN286,400				22,471
Clearwire Communications and Clearwire Finance, Inc. 12.00% 20174	$	10,000			10,937
					102,016


MATERIALS — 0.03%
CRH America, Inc. 6.00% 2016		1,260			1,401
CRH America, Inc. 8.125% 2018		15,540			18,945
ArcelorMittal 9.85% 2019		8,000			10,320
					30,666


CONSUMER DISCRETIONARY — 0.03%
Marks and Spencer Group PLC 6.25% 20174		100			108
Marks and Spencer Group PLC 7.125% 20374		15,550			16,009
DaimlerChrysler North America Holding Corp., Series E, 5.75% 2011		6,750			6,844
					22,961


CONSUMER STAPLES — 0.01%
British American Tobacco International Finance PLC 8.125% 20134		9,000			10,417


Total bonds & notes (cost: $446,257,000)					531,974



	Principal amount			Value
Short-term securities — 3.39%		(000	)		(000	)

Freddie Mac 0.13%–0.301% due 6/21/2011–5/18/2012	$	815,665		$	815,091
U.S. Treasury Bills 0.181%–0.221% due 7/28/2011–1/12/2012		352,200			352,016
Fannie Mae 0.07%–0.23% due 6/20/2011–3/6/2012		341,532			341,266
Westpac Banking Corp. 0.20%–0.331% due 8/4–9/6/20114		155,900			155,850
Caisse d’Amortissement de la Dette Sociale 0.25%–0.28% due 6/3–10/12/20114		124,300			124,280
Thunder Bay Funding, LLC 0.17%–0.22% due 7/11–8/19/20114		70,300			70,277
Old Line Funding, LLC 0.17% due 8/26/20114		41,738			41,723
Québec (Province of) 0.13%–0.20% due 6/3–8/2/20114		106,000			105,989
Electricité de France 0.15% due 7/27–7/29/20114		99,800			99,776
Rabobank USA Financial Corp. 0.22%–0.25% due 6/10–8/5/2011		88,630			88,619
Kells Funding, LLC 0.30%–0.31% due 11/16–11/28/20114		87,500			87,375
Svenska Handelsbanken Inc. 0.21% due 8/3/20114		75,000			74,975
Federal Home Loan Bank 0.32%–0.33% due 12/5/2011–2/10/2012		75,000			74,928
Société Générale North America, Inc. 0.20% due 7/19/2011		60,900			60,883
Toronto-Dominion Holdings USA Inc. 0.24% due 6/7/20114		50,000			49,998
BNP Paribas Finance Inc. 0.20% due 7/1/2011		50,000			49,991
Coca-Cola Co. 0.22% due 7/21/20114		50,000			49,988
Province of Ontario 0.13% due 8/2/2011		50,000			49,984
Commonwealth Bank of Australia 0.26% due 6/2/20114		35,800			35,800
Bank of Nova Scotia 0.255% due 6/1/2011		28,700			28,700
GE Capital International Funding Inc. 0.13% due 7/13/2011		28,200			28,196
Roche Holdings, Inc. 0.12% due 7/20/20114		25,000			24,993
KfW 0.16% due 8/9/20114		24,200			24,196
Federal Farm Credit Banks 0.20% due 8/29/2011		18,050			18,047

Total short-term securities (cost: $2,852,271,000)					2,852,941


Total investment securities (cost: $67,846,194,000)					84,022,028
Other assets less liabilities					212,514

Net assets				$	84,234,542

As permitted by U.S. Securities and Exchange Commission regulations, “Miscellaneous” securities include holdings in their first year of acquisition that have not previously been publicly disclosed.

1Valued under fair value procedures adopted by authority of the board of directors. The total value of all such securities, including those in “Miscellaneous,” was $51,909,443,000, which represented 61.62% of the net assets of the fund. This amount includes $51,891,648,000 related to certain securities trading outside the U.S. whose values were adjusted as a result of significant market movements following the close of local trading.

2Security did not produce income during the last 12 months.

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

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 $1,443,631,000, which represented 1.71% of the net assets of the fund.

5Coupon rate may change periodically.

Key to abbreviations

ADR = American Depositary Receipts

SDR = Swedish Depositary Receipts

MXN = Mexican pesos

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

MFGEFP-933-0711O-S29472

ITEM 7 – Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies

Not applicable to this Registrant, insofar as the Registrant is not a closed-end management investment company.

ITEM 8 – Portfolio Managers of Closed-End Management Investment Companies

Not applicable to this Registrant, insofar as the Registrant is not a closed-end management investment company.

ITEM 9 – Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers

Not applicable to this Registrant, insofar as the Registrant is not a closed-end management investment company.

ITEM 10 – Submission of Matters to a Vote of Security Holders

There have been no material changes to the procedures by which shareholders may recommend nominees to the Registrant’s board of directors since the Registrant last submitted a proxy statement to its shareholders. The procedures are as follows. The Registrant has a nominating and governance committee comprised solely of persons who are not considered ‘‘interested persons’’ of the Registrant within the meaning of the Investment Company Act of 1940, as amended. The committee periodically reviews such issues as the board’s composition, responsibilities, committees, compensation and other relevant issues, and recommends any appropriate changes to the full board of directors. While the committee normally is able to identify from its own resources an ample number of qualified candidates, it will consider shareholder suggestions of persons to be considered as nominees to fill future vacancies on the board. Such suggestions must be sent in writing to the nominating and governance committee of the Registrant, c/o the Registrant’s Secretary, and must be accompanied by complete biographical and occupational data on the prospective nominee, along with a written consent of the prospective nominee for consideration of his or her name by the nominating and governance committee.

ITEM 11 – Controls and Procedures

(a)	The Registrant’s Principal Executive Officer and Principal Financial Officer have concluded, based on their evaluation of the Registrant’s disclosure controls and procedures (as such term is defined in Rule 30a-3 under the Investment Company Act of 1940), that such controls and procedures are adequate and reasonably designed to achieve the purposes described in paragraph (c) of such rule.

(b)	There were no changes in the Registrant’s internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the Registrant’s second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

ITEM 12 – Exhibits

(a)(1)	Not applicable for filing of semi-annual reports to shareholders.

(a)(2)	The certifications required by Rule 30a-2 of the Investment Company Act of 1940 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 GROWTH AND INCOME FUND, INC.

	By /s/ Michael J. Thawley
	Michael J. Thawley, Vice Chairman and Principal Executive Officer

	Date: July 29, 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/ Michael J. Thawley

Michael J. Thawley, Vice Chairman and

Principal Executive Officer

Date: July 29, 2011

By /s/ Neal F. Wellons

Neal F. Wellons, Treasurer and

Principal Financial Officer

Date: July 29, 2011

American Funds Capital World Growth & Income Fund Class F-1 Shs (CWGFX) N-CSRSCertified semi-annual shareholder report (management investment company)