Capital Group Central Fund Series
01/30/2026 | Press release | Distributed by Public on 01/30/2026 09:15
Post-Effective Amendment to Registration Statement (Form POS AMI)
SEC. File No. 811-23391
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-1A
Registration Statement
Under
the Investment Company Act of 1940
Amendment No. 10
CAPITAL GROUP CENTRAL FUND SERIES
(Exact Name of Registrant as Specified in Charter)
6455 Irvine Center Drive
Irvine, California 92618-4518
(Address of Principal Executive Offices)
Registrant's telephone number, including area code:
(213) 486-9200
Courtney R. Taylor
Capital Group Central Fund Series
333 South Hope Street
Los Angeles, California 90071-1406
(Name and Address of Agent for Service)
Copies to:
Lea Anne Copenhefer
Morgan, Lewis & Bockius LLP
One Federal Street
Boston, MA 02110-1726
(Counsel for the Registrant)
|
Capital Group Registration Statement Part A February 1, 2026 |
|
Class |
M |
|
CMQXX |
Table of contents
|
Investment objective |
1 |
|
Fees and expenses of the fund |
1 |
|
Investment strategies and risks |
2 |
|
Management and organization |
6 |
|
Purchase and sale of shares |
7 |
|
How to sell shares |
8 |
|
Dividends and taxes |
9 |
|
Financial highlights |
10 |
This registration statement has been filed pursuant to Section 8(b) of the Investment Company Act of 1940, as amended ("1940 Act"). However, shares of the fund are not registered under the Securities Act of 1933, as amended ("1933 Act"), because the shares are issued solely in private placement transactions that do not involve any "public offering" within the meaning of Section 4(a)(2) of the 1933 Act. Investments in the fund may be made only by certain institutional investors, including investment companies and certain other investment vehicles and accounts managed by the fund's investment adviser and its affiliates. Shares of the fund are restricted securities and cannot be transferred or resold without registration under the 1933 Act or an available exemption from registration under the 1933 Act. This registration statement does not constitute an offer to sell, or the solicitation of an offer to buy, any shares of the fund.
Investment objective The fund is a government money market fund managed pursuant to rule 2a-7 under the 1940 Act. The investment objective of the fund is to provide you with a way to earn income on your cash reserves while preserving capital and maintaining liquidity. The net asset value of the fund's shares will "float," fluctuating with changes in the value of the fund's portfolio securities. Shares of the fund are currently only available for investment by (a) other funds and investment vehicles and accounts managed by the fund's investment adviser and its affiliates and (b) the fund's investment adviser and its affiliates. Shares of the fund are not available to the public.
Fees and expenses of the fund This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the fund.
|
Shareholder fees (fees paid directly from your investment) |
|
|
Share class: |
M |
|
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) |
none |
|
Maximum deferred sales charge (load) (as a percentage of the amount redeemed) |
none |
|
Maximum sales charge (load) imposed on reinvested dividends |
none |
|
Redemption or exchange fees |
none |
|
Annual fund operating expenses (expenses that you pay each year as a percentage of the net asset value of your investment) |
|
|
Share class: |
M |
|
Management fees |
none |
|
Distribution and/or service (12b-1) fees |
none |
|
Other expenses |
0.0011% |
|
Total annual fund operating expenses |
0.0011 |
1 Capital Group Central Cash Fund / Part A
Investment strategies and risks The fund will invest at least 99.5% of its total assets in cash, U.S. Treasury securities and other government securities guaranteed or issued by an agency or instrumentality of the U.S. government, and repurchase agreements that are fully collateralized by cash or government securities. All securities held by the fund will be denominated in U.S. dollars.
Repurchase agreements are agreements under which the fund purchases a security from a bank or broker-dealer and obtains a simultaneous commitment from the seller to repurchase the security at a specified time and price. Because the security purchased by the fund constitutes collateral for the seller's repurchase obligation, a repurchase agreement is effectively a loan by the fund that is collateralized by the security purchased. The fund will only enter into repurchase agreements involving securities of the type (excluding any maturity limitations) in which it could otherwise invest. In practice, the fund expects to enter only into repurchase agreements that are fully collateralized by cash or U.S. government securities.
The fund relies on the professional judgment of its investment adviser to make decisions about the fund's portfolio investments. The basic investment philosophy of the investment adviser is to seek to provide current income while preserving capital and maintaining liquidity. The investment adviser believes that an important way to accomplish this is by analyzing various factors, including the credit strength of the issuer, prices of similar securities issued by comparable issuers, current and anticipated changes in interest rates, general market conditions and other factors pertinent to the particular security being evaluated.
While it has no present intention to do so, the fund's board may change the fund's objective without shareholder approval upon 60 days' prior written notice to shareholders.
In accordance with applicable rules and regulations relating to money market funds, the fund will maintain a dollar-weighted average maturity of 60 days or less and its dollar-weighted average life will not exceed 120 days. Additionally, the fund will hold at least 25% of its total assets in daily liquid assets and at least 50% of its total assets in weekly liquid assets. For purposes of these limits, daily liquid assets and weekly liquid assets are generally defined to include cash, U.S. Treasuries, certain other government securities, as well as other securities that can be readily converted to cash within one or five business days, respectively.
Floating net asset value - The fund does not maintain a constant net asset value per share of $1.00 or any other amount. The fund transacts at a market-based net asset value calculated to two decimal places or an equivalent value for the fund depending on the share price (e.g., $10.00 or $100.00). Accordingly the fund's net asset value will vary as a result of changes in the value of the securities in which the fund invests. Because the share price of the fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them.
Liquidity fee - The fund will not be subject to a liquidity fee.
Capital Group Central Cash Fund / Part A 2
The following are principal risks associated with investing in the fund.You may lose money by investing in the fund. The likelihood of loss may be greater if you invest for a shorter period of time.
Market conditions - The prices of, and the income generated by, the securities held by the fund may decline - sometimes rapidly or unpredictably - due to various factors, including events or conditions affecting the general economy or particular industries or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; levels of public debt and deficits; changes in inflation rates; and interest rate and commodity price fluctuations.
Economies and financial markets throughout the world are highly interconnected. Economic, financial or political events, trading and tariff arrangements, wars, terrorism, cybersecurity events, natural disasters, public health emergencies (such as the spread of infectious disease), bank failures and other circumstances in one country or region, including actions taken by governmental or quasi-governmental authorities in response to any of the foregoing, could have impacts on global economies or markets. As a result, whether or not the fund invests in securities of issuers located in or with significant exposure to the countries affected, the value and liquidity of the fund's investments may be negatively affected by developments in other countries and regions.
Investing in securities backed by the U.S. government - U.S. government securities are subject to market risk, interest rate risk and credit risk. Securities backed by the U.S. Treasury or the full faith and credit of the U.S. government are guaranteed only as to the timely payment of interest and principal when held to maturity. Accordingly, the current market values for these securities will fluctuate with changes in interest rates and the credit rating of the U.S. government. Notwithstanding that these securities are backed by the full faith and credit of the U.S. government, circumstances could arise that would prevent or delay the payment of interest or principal on these securities, which could adversely affect their value and cause the fund to suffer losses. Such an event could lead to significant disruptions in U.S. and global markets.
Securities issued by U.S. government-sponsored entities and federal agencies and instrumentalities that are not backed by the full faith and credit of the U.S. government are neither issued nor guaranteed by the U.S. government.
3 Capital Group Central Cash Fund / Part A
Interest rate risk - The values and liquidity of the securities held by the fund may be affected by changing interest rates. For example, the values of these securities may decline when interest rates rise and increase when interest rates fall. Longer maturity debt securities generally have greater sensitivity to changes in interest rates and may be subject to greater price fluctuations than shorter maturity debt securities. The fund may invest in variable and floating rate securities. When the fund holds variable or floating rate securities, a decrease in market interest rates will adversely affect the income received from such securities and the net asset value of the fund's shares. Although the values of such securities are generally less sensitive to interest rate changes than those of other debt securities, the value of variable and floating rate securities may decline if their interest rates do not rise as quickly, or as much, as market interest rates. Conversely, floating rate securities will not generally increase in value if interest rates decline. During periods of extremely low short-term interest rates, the fund may not be able to maintain a positive yield or total return and, in relatively low interest rate environments, there are heightened risks associated with rising interest rates.
Investing in repurchase agreements - Upon entering into a repurchase agreement, the fund purchases a security from a bank or broker-dealer, which simultaneously commits to repurchase the security within a specified time at the fund's cost with interest. The security purchased by the fund constitutes collateral for the seller's repurchase obligation. If the party agreeing to repurchase should default, the fund may seek to sell the security it holds as collateral. The fund may incur a loss if the value of the collateral securing the repurchase obligation falls below the repurchase price. The fund may also incur disposition costs and encounter procedural delays in connection with liquidating the collateral.
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, including models, tools and data, employed by the investment adviser in this process may be flawed or incorrect and may not produce the desired results.
The following are additional risks associated with investing in the fund.
Cybersecurity breaches - The fund may be subject to operational and information security risks through breaches in cybersecurity. Cybersecurity breaches can result from deliberate attacks or unintentional events, including "ransomware" attacks, the injection of computer viruses or malicious software code, the use of vulnerabilities in code to gain unauthorized access to digital information systems, networks or devices, or external attacks such as denial-of-service attacks on the investment adviser's or an affiliate's website that could render the fund's network services unavailable to intended end-users. These breaches may, among other things, lead to the unauthorized release of confidential information, misuse of the fund's assets or sensitive information, the disruption of the fund's operational capacity, the inability of fund shareholders to transact business, or the destruction of the fund's physical infrastructure, equipment or operating systems. These events could cause the fund to violate applicable privacy and other laws and could subject the fund to reputational damage, additional costs associated with corrective measures and/or financial loss. The fund may also be subject to additional risks if its third-party service providers, such as the fund's investment adviser, transfer agent, custodian, administrators and other financial intermediaries, experience similar cybersecurity breaches and potential outcomes. Cybersecurity risks
Capital Group Central Cash Fund / Part A 4
may also impact issuers of securities in which the fund invests, which may cause the fund's investments in such issuers to lose value.
Large shareholder transactions risk - The fund may experience adverse effects when shareholders, including other funds or accounts advised by the investment adviser, purchase or redeem, individually or in the aggregate, large amounts of shares relative to the size of the fund. For example, when the investment adviser changes allocations in other funds and accounts it manages, such changes may result in shareholder transactions in the fund that are large relative to the size of the fund. Such large shareholder redemptions may cause the fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the fund's net asset value and liquidity. Similarly, large fund share purchases may adversely affect the fund's performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the fund's current expenses being allocated over a smaller asset base, leading to an increase in the fund's expense ratio. These risks are heightened when the fund is small.
In addition to the investment strategies described above, the fund has other investment practices that are described in Part B of the fund's registration statement, which includes a description of other risks related to the fund's investment strategies and other investment practices. The fund's investment results will depend on the ability of the fund's investment adviser to navigate the risks discussed above as well as those described in Part B of the fund's registration statement.
You could lose money by investing in the fund. Because the share price of the fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. An investment in the fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund's sponsor is not required to reimburse the fund for losses, and you should not expect that the sponsor will provide financial support to the fund at any time, including during periods of market stress.
Portfolio holdings Portfolio holdings information for the fund will be available on the fund's website at capitalgroup.com/cmqxx. A description of the fund's policies and procedures regarding disclosure of information about its portfolio holdings is available in Part B of the fund's registration statement.
5 Capital Group Central Cash Fund / Part A
Management and organization
Investment adviser Capital Research and Management Company, an experienced investment management organization founded in 1931, serves as the investment adviser to the fund and other funds, including the American Funds. Capital Research and Management Company is a wholly owned subsidiary of The Capital Group Companies, Inc. and is located at 333 South Hope Street, Los Angeles, California 90071. Capital Research and Management Company manages the investment portfolio and business affairs of the fund. The fund does not pay any management fee to its investment adviser. A more detailed description of the Investment Advisory and Service Agreement between the fund and the investment adviser is included in Part B of the fund's registration statement. A discussion regarding the basis for the approval of the fund's Investment Advisory and Service Agreement by the fund's board of trustees is contained in the fund's semi-annual report to shareholders for the period ended April 30, 2025.
Capital Research and Management Company manages equity assets through three equity investment divisions and fixed income assets through its fixed income investment division, Capital Fixed Income Investors. The three equity investment divisions - Capital International Investors, Capital Research Global Investors and Capital World Investors - make investment decisions independently of one another.
The equity investment divisions may, in the future, be incorporated as wholly owned subsidiaries of Capital Research and Management Company. In that event, Capital Research and Management Company would continue to be the investment adviser, and day-to-day investment management of equity assets would continue to be carried out through one or more of these subsidiaries. Although not currently contemplated, Capital Research and Management Company could incorporate its fixed income investment division in the future and engage it to provide day-to-day investment management of fixed income assets. Capital Research and Management Company and each of the funds it advises have received an exemptive order from the U.S. Securities and Exchange Commission that allows Capital Research and Management Company to use, upon approval of the fund's board, its management subsidiaries and affiliates to provide day-to-day investment management services to the fund, including making changes to the management subsidiaries and affiliates providing such services. The fund's shareholders have approved this arrangement; however, there is no assurance that Capital Research and Management Company will incorporate its investment divisions or exercise any authority granted to it under the exemptive order.
Fund expenses The fund bears expenses incurred in connection with the day-to-day fund operations, including, but not limited, to expenses associated with the audit, custodian, administrative and transfer agent services provided to the fund.
Capital Group Central Cash Fund / Part A 6
Purchase and sale of shares
Purchase of Class M shares Class M shares are available for purchase only by (a) other funds and investment vehicles and accounts managed by the fund's investment adviser and its affiliates and (b) the fund's investment adviser and its affiliates. Shares of the fund are not available to the public. The fund may accept securities in-kind in exchange for shares of the fund in accordance with the fund's policy and procedures relating to in-kind purchase transactions.
Valuing shares The net asset value of each share class of the fund is the value of a single share of that class. The net asset value per share is calculated once daily as of the close of regular trading on the New York Stock Exchange, normally 4 p.m. New York time, each day the New York Stock Exchange is open. If the New York Stock Exchange makes a scheduled (e.g., the day after Thanksgiving) or an unscheduled close prior to 4 p.m. New York time, the net asset value of the fund will be determined at approximately the time the New York Stock Exchange closes on that day. If on such a day market quotations and prices from third-party pricing services are not based as of the time of the early close of the New York Stock Exchange but are as of a later time (up to approximately 4 p.m. New York time), for example because the market remains open after the close of the New York Stock Exchange, those later market quotations and prices will be used in determining the fund's net asset value. The fund may also calculate its share price on days the New York Stock Exchange is closed, consistent with applicable regulatory guidance.
Assets are valued primarily on the basis of evaluated prices from third-party pricing services. However, the fund's portfolio investments are valued in accordance with procedures for making fair value determinations if evaluated prices are not readily available or are not considered reliable.
The fund's initial net asset value of $100.00 is calculated to two decimal places. The fund follows standard industry practice by typically reflecting changes in its holdings of portfolio securities on the first business day following a portfolio trade. However, changes in the fund's holdings of short-term securities that settle within the same day are reflected on the same day of the portfolio trade.
Your shares will be purchased at the net asset value or sold at the net asset value next determined after American Funds Service Company receives your request, provided that your request contains all information and legal documentation necessary to process the transaction. Orders in good order received after the New York Stock Exchange closes (scheduled or unscheduled) will be processed at the net asset value (plus any applicable sales charge) calculated on the following business day.
Distributor Capital Client Group, Inc. serves as the distributor ("distributor") of the fund shares. The distributor does not receive any compensation from the fund for the distribution services.
7 Capital Group Central Cash Fund / Part A
How to sell shares
You may sell (redeem) shares by notifying American Funds Services Company.
The fund typically expects to remit redemption proceeds within one business day following receipt and acceptance of a redemption order. However, payment may take longer than one business day and may take up to seven days as generally permitted by the 1940 Act. Under the 1940 Act, the fund may be permitted to pay redemption proceeds beyond seven days under certain limited circumstances.
Under normal conditions, the fund typically expects to meet shareholder redemptions from a reserve of highly liquid assets, such as cash or cash equivalents. The fund may use additional methods to meet shareholder redemptions, if they become necessary. These methods may include, but are not limited to, the sale of portfolio assets, the use of overdraft protection afforded by the fund's custodian bank, borrowing from a line of credit or from other funds advised by the investment adviser or its affiliates, and making payment with fund securities or other fund assets rather than in cash (as further discussed in the following paragraph).
Although payment of redemptions normally will be in cash, the fund's declaration of trust permits payment of the redemption price wholly or partly with portfolio securities or other fund assets under conditions and circumstances determined by the fund's board of trustees. On the same redemption date, some shareholders may be paid in whole or in part in securities (which may differ among those shareholders), while other shareholders may be paid entirely in cash. In general, in-kind redemptions to affiliated shareholders will as closely as practicable represent the affiliated shareholder's pro rata share of the fund's securities, subject to certain exceptions. Securities distributed in-kind to unaffiliated shareholders will be selected by the investment adviser in a manner the investment adviser deems to be fair and reasonable to the fund's shareholders. The disposal of the securities received in-kind may be subject to brokerage costs and, until sold, such securities remain subject to market risk and liquidity risk, including the risk that such securities are or become difficult to sell. If the fund pays your redemption with illiquid or less liquid securities, you will bear the risk of not being able to sell such securities.
Shares of the fund are not transferrable.
Frequent trading of fund shares The fund and the distributor reserve the right to reject any purchase order for any reason. Frequent trading of fund shares may lead to increased costs to the fund and less efficient management of the fund's portfolio, potentially resulting in dilution of the value of the shares held by long-term shareholders. The investment adviser anticipates that fund shares may be purchased and sold frequently because a money market fund is designed to offer a liquid investment option. Accordingly, the board has not adopted policies and procedures designed to detect and deter excessive trading of fund shares.
Capital Group Central Cash Fund / Part A 8
Dividends and taxes
Dividends The fund declares daily dividends from net investment income and distributes the accrued dividends, which may fluctuate, to you each month. Generally, dividends begin accruing on the day after payment for shares is received by the fund or American Funds Service Company.
Dividends declared and paid by the fund will be automatically reinvested to purchase additional shares of this fund.
Taxes For federal income tax purposes, dividends and capital gain distributions you receive from the fund will be subject to federal income taxes, and also may be subject to state or local taxes - unless you are tax-exempt or your account is tax-favored (in which case you may be taxed later, upon withdrawal of your investment from such account). Because the fund's net asset value floats, a sale of fund shares may result in a capital gain or loss for you. Accordingly, you may have a capital gain to report as income, or a capital loss to report as a deduction, when you complete your tax return. Part B of the fund's registration statement contains more information regarding the different methods available to you for calculating this gain or loss.
Fees Fees and expenses borne directly by the fund normally have the effect of reducing a shareholder's taxable income on distributions.
Please see your tax advisor for more information.
9 Capital Group Central Cash Fund / Part A
Financial highlights
The Financial Highlights table is intended to help you understand the fund's results for the past five fiscal years (or, if shorter, the period of operations). Certain information reflects financial results for a single share. The total returns in the table represent the rate that an investor would have earned or lost on an investment in the fund (assuming reinvestment of all dividends). The information in the Financial Highlights table has been audited by PricewaterhouseCoopers LLP, whose current report, along with the fund's financial statements, is included in the Part B of the registration statement, which is available upon request.
|
Income (loss) from |
||||||||||||||||||||
|
Year ended |
Net asset |
Net |
Net gains |
Total from |
Dividends |
Net asset |
Total |
Net assets, |
Ratio of |
Ratio of |
||||||||||
|
Class M: |
||||||||||||||||||||
|
10/31/2025 |
$100.00 |
$4.36 |
$.02 |
$4.38 |
$(4.36 |
) |
$100.02 |
4.46 |
% |
$124,763 |
- |
%2 |
4.36 |
% |
||||||
|
10/31/2024 |
100.00 |
5.35 |
- |
5.35 |
(5.35 |
) |
100.00 |
5.48 |
114,500 |
- |
2 |
5.35 |
||||||||
|
10/31/2023 |
99.98 |
4.82 |
.05 |
4.87 |
(4.85 |
) |
100.00 |
4.98 |
144,997 |
- |
2 |
4.82 |
||||||||
|
10/31/2022 |
100.00 |
1.21 |
(.21 |
) |
1.00 |
(1.02 |
) |
99.98 |
1.01 |
184,777 |
- |
2 |
1.21 |
|||||||
|
10/31/2021 |
100.01 |
.08 |
(.01 |
) |
.07 |
(.08 |
) |
100.00 |
.06 |
112,467 |
- |
2 |
.08 |
|||||||
1 Based on average shares outstanding.
2 Amount less than .01%.
|
Capital Group Central Cash Fund / Part A 10 |
|
MFGEPRX-129-0226 |
|
Capital Group Central Fund Series
(Capital Group Central Cash Fund)
Part B
Registration Statement
February 1, 2026
This document is not a prospectus but Part B of the registration statement of Capital Group Central Fund Series (Capital Group Central Cash Fund) (the "fund") which should be read in conjunction with Part A of the fund's registration statement dated February 1, 2026. You may obtain Part A and Part B of the registration statement by calling American Funds Service Company® at (800) 421-4225 or by writing to the fund at the following address:
Capital Group Central Fund Series
(Capital Group Central Cash Fund)
Attention: Secretary
333 South Hope Street
Los Angeles, California 90071
|
Class M |
CMQXX |
Table of Contents
|
Item |
Page no. |
|
Certain investment limitations and guidelines |
2 |
|
Description of certain securities, investment techniques and risks |
3 |
|
Fund policies |
7 |
|
Management of the fund |
9 |
|
Execution of portfolio transactions |
26 |
|
Disclosure of portfolio holdings |
29 |
|
Price of shares |
31 |
|
Taxes and distributions |
33 |
|
Purchase and exchange of shares |
35 |
|
Selling shares |
36 |
|
Shareholder account services and privileges |
37 |
|
General information |
38 |
Investment portfolio
Financial statements
Capital Group Central Cash Fund - Page 1
Certain investment limitations and guidelines
The following limitations and guidelines are considered at the time of purchase, under normal circumstances, and are based on a percentage of the fund's net assets unless otherwise noted. This summary is not intended to reflect all of the fund's investment limitations.
Maturity
· The fund will maintain a dollar-weighted average portfolio maturity of 60 days or less.
· The fund will maintain the dollar-weighted average life of its portfolio at 120 days or less.
· For purposes of determining the weighted average maturity (but not the weighted average life) of the fund's portfolio, certain variable and floating rate obligations and securities with put options which may otherwise have stated or final maturities in excess of 397 days will be deemed to have remaining maturities equal to the period remaining until each next readjustment of the interest rate or until the fund is entitled to repayment or repurchase of the security.
Liquidity
· The fund may not acquire illiquid securities if, immediately after the acquisition, the fund would have invested more than 5% of its total assets in illiquid securities.
· The fund will hold at least 25% of its total assets in daily liquid assets (i.e., cash, direct obligations of the U.S. Government or securities that mature or are subject to a demand feature that is exercisable or payable within one business day).
· The fund will hold at least 50% of its total assets in weekly liquid assets (i.e., cash, direct obligations of the U.S. Government, government securities issued by an instrumentality of the U.S. Government that are issued at a discount and have a remaining maturity of 60 days or less, or securities that mature or are subject to a demand feature that is exercisable or payable within five business days).
* * * * * *
The fund may experience difficulty liquidating certain portfolio securities during significant market declines or periods of heavy redemptions.
Capital Group Central Cash Fund - Page 2
Description of certain securities, investment techniques and risks
The descriptions below are intended to supplement the material in Part A of the fund's registration statement under "Investment strategies and risks."
Market conditions - The value of, and the income generated by, the securities in which the fund invests may decline, sometimes rapidly or unpredictably, due to factors affecting certain issuers, particular industries or sectors, or the overall markets. Rapid or unexpected changes in market conditions could cause the fund to liquidate holdings at inopportune times or at a loss or depressed value. The value of a particular holding may decrease due to developments related to that issuer, but also due to general market conditions, including real or perceived economic developments such as changes in interest rates, credit quality, inflation, or currency rates or generally adverse investor sentiment. The value of a holding may also decline due to factors that negatively affect a particular industry or sector, such as labor shortages, increased production costs, or competitive conditions.
Global economies and financial markets are highly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. Furthermore, local, regional and global events such as war, acts of terrorism, trading and tariff arrangements, social unrest, natural disasters, the spread of infectious illness or other public health threats, or bank failures could also adversely impact issuers, markets and economies, including in ways that cannot necessarily be foreseen. The fund could be negatively impacted if the value of a portfolio holding were harmed by such conditions or events.
Significant market disruptions, such as those caused by pandemics, natural or environmental disasters, war, acts of terrorism, bank failures or other events, can adversely affect local and global markets and normal market operations. Market disruptions may exacerbate political, social, and economic risks. Additionally, market disruptions may result in increased market volatility; regulatory trading halts; closure of domestic or foreign exchanges, markets, or governments; or market participants operating pursuant to business continuity plans for indeterminate periods of time. Such events can be highly disruptive to economies and markets and significantly impact individual companies, sectors, industries, markets, currencies, interest and inflation rates, credit ratings, investor sentiment, and other factors affecting the value of the fund's investments and operation of the fund. These events could disrupt businesses that are integral to the fund's operations or impair the ability of employees of fund service providers to perform essential tasks on behalf of the fund.
Governmental and quasi-governmental authorities may take a number of actions designed to support local and global economies and the financial markets in response to economic disruptions. Such actions may include a variety of significant fiscal and monetary policy changes, including, for example, direct capital infusions into companies, new monetary programs and significantly lower interest rates. These actions have resulted in significant expansion of public debt and may result in greater market risk. Additionally, an unexpected or quick reversal of these policies, or the ineffectiveness of these policies, could negatively impact overall investor sentiment and further increase volatility in securities markets.
Obligations backed by the "full faith and credit" of the U.S. government - U.S. government obligations include the following types of securities:
U.S. Treasury securities - U.S. Treasury securities include direct obligations of the U.S. Treasury, such as Treasury bills, notes and bonds. For these securities, the payment of principal and interest is unconditionally guaranteed by the U.S. government, and thus they are of high credit quality.
Capital Group Central Cash Fund - Page 3
Federal agency securities - The securities of certain U.S. government agencies and government-sponsored entities are guaranteed as to the timely payment of principal and interest by the full faith and credit of the U.S. government. Such agencies and entities include, but are not limited to, the Federal Financing Bank ("FFB"), the Government National Mortgage Association ("Ginnie Mae"), the U.S. Department of Veterans Affairs ("VA"), the Federal Housing Administration ("FHA"), the Export-Import Bank of the United States ("Exim Bank"), the U.S. International Development Finance Corporation ("DFC"), the Commodity Credit Corporation ("CCC") and the U.S. Small Business Administration ("SBA").
Such securities are subject to variations in market value due to fluctuations in interest rates and in government policies, among other things, but, if held to maturity, are expected to be paid in full (either at maturity or thereafter). However, from time to time, a high national debt level, and uncertainty regarding negotiations to increase the U.S. government's debt ceiling and periodic legislation to fund the government, could increase the risk that the U.S. government may default on its obligations and/or lead to a downgrade of the credit rating of the U.S. government. Such an event could adversely affect the value of investments in securities backed by the full faith and credit of the U.S. government, cause the fund to suffer losses and lead to significant disruptions in U.S. and global markets. Regulatory or market changes or conditions could increase demand for U.S. government securities and affect the availability of such instruments for investment and the fund's ability to pursue its investment strategies.
Other federal agency obligations - Additional federal agency securities are neither direct obligations of, nor guaranteed by, the U.S. government. These obligations include securities issued by certain U.S. government agencies and government-sponsored entities. However, they generally involve some form of federal sponsorship: some operate under a congressional charter; some are backed by collateral consisting of "full faith and credit" obligations as described above; some are supported by the issuer's right to borrow from the Treasury; and others are supported only by the credit of the issuing government agency or entity. These agencies and entities include, but are not limited to: the Federal Home Loan Banks, the Federal Home Loan Mortgage Corporation ("Freddie Mac"), the Federal National Mortgage Association ("Fannie Mae"), the Tennessee Valley Authority and the Federal Farm Credit Bank System.
In 2008, Freddie Mac and Fannie Mae were placed into conservatorship by their new regulator, the Federal Housing Finance Agency ("FHFA"). Simultaneously, the U.S. Treasury made a commitment of indefinite duration to maintain the positive net worth of both firms. As conservator, the FHFA has the authority to repudiate any contract either firm has entered into prior to the FHFA's appointment as conservator (or receiver should either firm go into default) if the FHFA, in its sole discretion determines that performance of the contract is burdensome and repudiation would promote the orderly administration of Fannie Mae's or Freddie Mac's affairs. While the FHFA has indicated that it does not intend to repudiate the guaranty obligations of either entity, doing so could adversely affect holders of their mortgage-backed securities. For example, if a contract were repudiated, the liability for any direct compensatory damages would accrue to the entity's conservatorship estate and could only be satisfied to the extent the estate had available assets. As a result, if interest payments on Fannie Mae or Freddie Mac mortgage-backed securities held by the fund were reduced because underlying borrowers failed to make payments or such payments were not advanced by a loan servicer, the fund's only recourse might be against the conservatorship estate, which might not have sufficient assets to offset any shortfalls.
The FHFA, in its capacity as conservator, has the power to transfer or sell any asset or liability of Fannie Mae or Freddie Mac. The FHFA has indicated it has no current intention to do this; however, should it do so a holder of a Fannie Mae or Freddie Mac mortgage-backed security would have to rely on another party for satisfaction of the guaranty obligations and would be exposed to the credit risk of that party.
Capital Group Central Cash Fund - Page 4
Certain rights provided to holders of mortgage-backed securities issued by Fannie Mae or Freddie Mac under their operative documents may not be enforceable against the FHFA, or enforcement may be delayed during the course of the conservatorship or any future receivership. For example, the operative documents may provide that upon the occurrence of an event of default by Fannie Mae or Freddie Mac, holders of a requisite percentage of the mortgage-backed security may replace the entity as trustee. However, under the Federal Housing Finance Regulatory Reform Act of 2008, holders may not enforce this right if the event of default arises solely because a conservator or receiver has been appointed.
Repurchase agreements - The fund may enter into repurchase agreements, or "repos", under which the fund buys a security and obtains a simultaneous commitment from the seller to repurchase the security at a specified time and price. Because the security purchased constitutes collateral for the repurchase obligation, a repo may be considered a loan by the fund that is collateralized by the security purchased. Repos permit the fund to maintain liquidity and earn income over periods of time as short as overnight.
The seller must maintain with a custodian collateral equal to at least the repurchase price, including accrued interest. In tri-party repos and centrally cleared or "sponsored" repos, a third-party custodian, either a clearing bank in the case of tri-party repos or a central clearing counterparty in the case of centrally cleared repos, facilitates repo clearing and settlement, including by providing collateral management services. In bilateral repos, the parties themselves are responsible for settling transactions.
The fund will only enter into repos involving securities of the type (excluding any maturity limitations) in which it could otherwise invest. If the seller under the repo defaults, the fund may incur a loss if the value of the collateral securing the repo has declined and may incur disposition costs and delays in connection with liquidating the collateral. If bankruptcy proceedings are commenced with respect to the seller, realization of the collateral by the fund may be delayed or limited.
Variable and floating rate obligations - The interest rates payable on certain securities and other instruments in which the fund may invest may not be fixed but may fluctuate based upon changes in market interest rates or credit ratings. Variable and floating rate obligations bear coupon rates that are adjusted at designated intervals, based on the then current market interest rates or credit ratings. The rate adjustment features tend to limit the extent to which the market value of the obligations will fluctuate. When the fund holds variable or floating rate securities, a decrease in market interest rates will adversely affect the income received from such securities and the net asset value of the fund's shares.
Cybersecurity risks - With the increased use of technologies such as the Internet to conduct business, the fund has become potentially more susceptible to operational and information security risks through breaches in cybersecurity. In general, a breach in cybersecurity can result from either a deliberate attack or an unintentional event. Cybersecurity breaches may involve, among other things, "ransomware" attacks, injection of computer viruses or malicious software code, or the use of vulnerabilities in code to gain unauthorized access to digital information systems, networks or devices that are used directly or indirectly by the fund or its service providers through "hacking" or other means. Cybersecurity risks also include the risk of losses of service resulting from external attacks that do not require unauthorized access to the fund's systems, networks or devices. For example, denial-of-service attacks on the investment adviser's or an affiliate's website could effectively render the fund's network services unavailable to fund shareholders and other intended end-users. Any such cybersecurity breaches or losses of service may, among other things, cause the fund to lose proprietary information, suffer data corruption or lose operational capacity, or may result in the misappropriation, unauthorized release or other misuse of the fund's assets or sensitive information (including shareholder personal information or other confidential information), the inability of fund shareholders to transact business, or the destruction of the fund's physical infrastructure, equipment or
Capital Group Central Cash Fund - Page 5
operating systems. These, in turn, could cause the fund to violate applicable privacy and other laws and incur or suffer regulatory penalties, reputational damage, additional costs (including compliance costs) associated with corrective measures and/or financial loss. While the fund and its investment adviser have established business continuity plans and risk management systems designed to prevent or reduce the impact of cybersecurity attacks, there are inherent limitations in such plans and systems due in part to the ever-changing nature of technology and cybersecurity attack tactics, and there is a possibility that certain risks have not been adequately identified or prepared for.
In addition, cybersecurity failures by or breaches of the fund's third-party service providers (including, but not limited to, the fund's investment adviser, transfer agent, custodian, administrators and other financial intermediaries) may disrupt the business operations of the service providers and of the fund, potentially resulting in financial losses, the inability of fund shareholders to transact business with the fund and of the fund to process transactions, the inability of the fund to calculate its net asset value, violations of applicable privacy and other laws, rules and regulations, regulatory fines, penalties, reputational damage, reimbursement or other compensatory costs and/or additional compliance costs associated with implementation of any corrective measures. The fund and its shareholders could be negatively impacted as a result of any such cybersecurity breaches, and there can be no assurance that the fund will not suffer losses relating to cybersecurity attacks or other informational security breaches affecting the fund's third-party service providers in the future, particularly as the fund cannot control any cybersecurity plans or systems implemented by such service providers.
Cybersecurity risks may also impact issuers of securities in which the fund invests, which may cause the fund's investments in such issuers to lose value.
Inflation/Deflation risk - The fund may be subject to inflation and deflation risk. Inflation risk is the risk that the present value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the fund's assets can decline. Deflation risk is the risk that prices throughout the economy decline over time. Deflation or inflation may have an adverse effect on the creditworthiness of issuers and may make issuer default more likely, which may result in a decline in the value of the fund's assets.
Capital Group Central Cash Fund - Page 6
Fund policies
All percentage limitations in the following fund policies are considered at the time securities are purchased and are based on the fund's net assets unless otherwise indicated. None of the following policies involving a maximum percentage of assets will be considered violated unless the excess occurs immediately after, and is caused by, an acquisition by the fund. In managing the fund, the fund's investment adviser may apply more restrictive policies than those listed below.
Fundamental policies - The fund has adopted the following policies, which may not be changed without approval by holders of a majority of its outstanding shares. Such majority is currently defined in the Investment Company Act of 1940, as amended, as the vote of the lesser of (a) 67% or more of the voting securities present at a shareholder meeting, if the holders of more than 50% of the outstanding voting securities are present in person or by proxy, or (b) more than 50% of the outstanding voting securities.
1. Except as permitted by (i) the 1940 Act and the rules and regulations thereunder, or other successor law governing the regulation of registered investment companies, or interpretations or modifications thereof by the U.S. Securities and Exchange Commission ("SEC"), SEC staff or other authority of competent jurisdiction, or (ii) exemptive or other relief or permission from the SEC, SEC staff or other authority of competent jurisdiction, the fund may not:
a. Borrow money;
b. Issue senior securities;
c. Underwrite the securities of other issuers;
d. Purchase or sell real estate or commodities;
e. Make loans; or
f. Purchase the securities of any issuer if, as a result of such purchase, the fund's investments would be concentrated in any particular industry, except that the fund may invest without limitation in U.S. government securities and certain bank instruments issued by domestic banks.
2. The fund may not invest in companies for the purpose of exercising control or management.
Nonfundamental policies - The following policies may be changed without shareholder approval:
1. The fund may not invest in securities of other investment companies, except as permitted by the 1940 Act.
2. The fund may not acquire securities of open-end investment companies or unit investment trusts registered under the 1940 Act in reliance on Sections 12(d)(1)(F) or 12(d)(1)(G) of the 1940 Act.
Capital Group Central Cash Fund - Page 7
Additional information about fundamental policies - The information below is not part of the fund's fundamental policies. This information is intended to provide a summary of what is currently required or permitted by the 1940 Act and the rules and regulations thereunder, or by the interpretive guidance thereof by the SEC or SEC staff, for particular fundamental policies of the fund. Information is also provided regarding the fund's current intention with respect to certain investment practices permitted by the 1940 Act.
For purposes of fundamental policy 1a, the fund may borrow money in amounts of up to 33-1/3% of its total assets from banks for any purpose. Additionally, the fund may borrow up to 5% of its total assets from banks or other lenders for temporary purposes (a loan is presumed to be for temporary purposes if it is repaid within 60 days and is not extended or renewed). The percentage limitations in this policy are considered at the time of borrowing and thereafter.
For purposes of fundamental policy 1b, a senior security does not include any promissory note or evidence of indebtedness if such loan is for temporary purposes only and in an amount not exceeding 5% of the value of the total assets of the fund at the time the loan is made (a loan is presumed to be for temporary purposes if it is repaid within 60 days and is not extended or renewed). Further, the fund is permitted to enter into derivatives and certain other transactions, notwithstanding the prohibitions and restrictions on the issuance of senior securities under the 1940 Act, in accordance with current SEC rules and interpretations.
For purposes of fundamental policy 1c, the policy will not apply to the fund to the extent the fund may be deemed an underwriter within the meaning of the 1933 Act in connection with the purchase and sale of fund portfolio securities in the ordinary course of pursuing its investment objective(s) and strategies.
For purposes of fundamental policy 1e, the fund may not lend more than 33-1/3% of its total assets, provided that this limitation shall not apply to the fund's purchase of debt obligations, money market instruments and repurchase agreements.
For purposes of fundamental policy 1f, the fund may not invest more than 25% of its total assets in the securities of issuers in a particular industry. This policy does not apply to investments in securities of the United States government, its agencies or instrumentalities, government sponsored enterprises and obligations of domestic banks (e.g., certificates of deposit, interest bearing time deposits, bank notes and banker's acceptances), or repurchase agreements with respect thereto. The fund invests in such obligations using the investment criteria of, and in compliance with, rule 2a-7 under the 1940 Act. In evaluating and selecting such investments, the investment adviser, on behalf of the fund, uses the criteria set forth under the headings "Certain investment limitations and guidelines" and "Description of certain securities and investment techniques" in this Part B of the fund's registration statement.
Capital Group Central Cash Fund - Page 8
Management of the fund
Board of trustees and officers
Independent trustees1
The fund's nominating and governance committee and board select independent trustees with a view toward constituting a board that, as a body, possesses the qualifications, skills, attributes and experience to appropriately oversee the actions of the fund's service providers, decide upon matters of general policy and represent the long-term interests of fund shareholders. In doing so, they consider the qualifications, skills, attributes and experience of the current board members, with a view toward maintaining a board that is diverse in viewpoint, experience, education and skills.
The fund seeks independent trustees who have high ethical standards and the highest levels of integrity and commitment, who have inquiring and independent minds, mature judgment, good communication skills, and other complementary personal qualifications and skills that enable them to function effectively in the context of the fund's board and committee structure and who have the ability and willingness to dedicate sufficient time to effectively fulfill their duties and responsibilities.
Each independent trustee has a significant record of accomplishments in governance, business, not-for-profit organizations, government service, academia, law, accounting or other professions. Although no single list could identify all experience upon which the fund's independent trustees draw in connection with their service, the following table summarizes key experience for each independent trustee. These references to the qualifications, attributes and skills of the trustees are pursuant to the disclosure requirements of the SEC, and shall not be deemed to impose any greater responsibility or liability on any trustee or the board as a whole. Notwithstanding the accomplishments listed below, none of the independent trustees is considered an "expert" within the meaning of the federal securities laws with respect to information in the fund's registration statement.
Capital Group Central Cash Fund - Page 9
|
Name, year of birth and position with fund (year first elected as a trustee2) |
Principal |
Number of |
Other directorships3 held by trustee |
Other relevant experience |
|
Gina F. Adams, 1958 |
Executive Vice President, General Counsel and Secretary, FedEx Corporation (transportation/logistics company) |
53 |
Entergy Corporation |
· Board service for educational, arts and other nonprofit organizations · LLM, JD |
|
Francisco G. Cigarroa, MD, 1957 |
Professor of Surgery, University of Texas Health San Antonio; Trustee, Ford Foundation; Clayton Research Scholar, Clayton Foundation for Biomedical Research |
114 |
None |
· Corporate board experience · Service on boards of community and nonprofit organizations · MD |
|
Nariman Farvardin, 1956 |
President, Stevens Institute of Technology |
114 |
None |
· Senior management experience, educational institution · Corporate board experience · Professor, electrical and computer engineering · Service on advisory boards and councils for educational, nonprofit and governmental organizations · MS, PhD, electrical engineering |
|
Jennifer C. Feikin, 1968 |
Independent corporate board member; previously held positions at Google, AOL, 20th Century Fox and McKinsey & Company |
114 |
Hertz Global Holdings, Inc. |
· Senior corporate management experience · Corporate board experience · Business consulting experience · Service on advisory and trustee boards for charitable and nonprofit organizations · JD |
Capital Group Central Cash Fund - Page 10
|
Name, year of birth and position with fund (year first elected as a trustee2) |
Principal |
Number of |
Other directorships3 held by trustee |
Other relevant experience |
|
Leslie Stone Heisz, 1961 |
Former Managing Director, Lazard (retired, 2010); Director, Kaiser Permanente (California public benefit corporation); former Lecturer, UCLA Anderson School of Management |
114 |
Edwards Lifesciences; Ingram Micro Holding Corporation (information technology products and services) Former director of Public Storage, Inc. (until 2024) |
· Senior corporate management experience, investment banking · Business consulting experience · Corporate board experience · Service on advisory and trustee boards for charitable and nonprofit organizations · MBA |
|
Merit E. Janow, 1958 |
Dean Emerita and Professor of Practice, International Economic Law & International Affairs, Columbia University, School of International and Public Affairs |
56 |
Aptiv (autonomous and green vehicle technology); Mastercard Incorporated Former director of Trimble Inc. (software, hardware and services technology) (until 2021) |
· Service with Office of the U.S. Trade Representative and U.S. Department of Justice · Corporate board experience · Service on advisory and trustee boards for charitable, educational and nonprofit organizations · Experience as corporate lawyer · JD |
Capital Group Central Cash Fund - Page 11
|
Name, year of birth and position with fund (year first elected as a trustee2) |
Principal |
Number of |
Other directorships3 held by trustee |
Other relevant experience |
|
Martin E. Koehler, 1957 |
Independent management consultant |
53 |
None |
· Senior management experience · Corporate board experience · Service on advisory and trustee boards for charitable and nonprofit organizations · MBA · MS, industrial engineering |
|
Benjamin R. Miller, 1967 |
Co-Founder, Agio Ratings Ltd. (fintech advisory); former Director and adviser, Dalpha Capital and Dalpha Capital (UK) Ltd. (digital assets manager) (2020-2022) |
37 |
None |
· Senior corporate management experience, investment management · Investment management experience · Experience as corporate lawyer · JD |
|
Josette Sheeran, 1954 |
Founder and CEO, Firefly Global Group (geopolitical and business consulting); former President, Canoo, Inc.; former President and CEO, Asia Society |
53 |
None |
· Service as chief executive officer · Senior management experience · Government service · Service on advisory councils and commissions for international and governmental organizations · Service on advisory and trustee boards for charitable and nonprofit organizations · Service as trustee for public and private entities |
Capital Group Central Cash Fund - Page 12
|
Name, year of birth and position with fund (year first elected as a trustee2) |
Principal |
Number of |
Other directorships3 held by trustee |
Other relevant experience |
|
Margaret Spellings, 1957 |
President and CEO, Bipartisan Policy Center; former President and CEO, Texas 2036 |
114 |
None |
· Former U.S. Secretary of Education, U.S. Department of Education · Former Assistant to the President for Domestic Policy, The White House · Former senior advisor to the Governor of Texas · Service on advisory and trustee boards for charitable and nonprofit organizations |
|
Alexandra Trower, 1964 |
Former Executive Vice President, Global Communications and Corporate Officer, The Estée Lauder Companies |
114 |
None |
· Service on trustee boards for charitable and nonprofit organizations · Senior corporate management experience · Branding |
|
Paul S. Williams, 1959 |
Former Partner/Managing Director, Major, Lindsey & Africa (executive recruiting firm) (2005 - 2018) |
114 |
Public Storage, Inc. Former director of Romeo Power, Inc. (manufacturer of batteries for electric vehicles) (until 2022); Compass Minerals, Inc. (producer of salt and specialty fertilizers) (until 2023); Air Transport Services Group, Inc. (aircraft leasing and air cargo transportation) (until 2025) |
· Senior corporate management experience · Corporate board experience · Corporate governance experience · Service on trustee boards for charitable and educational nonprofit organizations · Securities law expertise · JD |
Capital Group Central Cash Fund - Page 13
Interested trustee(s)4,5
Interested trustees have similar qualifications, skills and attributes as the independent trustees. Interested trustees are senior executive officers and/or directors of Capital Research and Management Company or its affiliates. Such management roles with the fund's service providers also permit the interested trustees to make a significant contribution to the fund's board.
|
Name, year of birth |
Principal occupation(s) |
Number of |
Other directorships3 |
|
Pramod Atluri, 1976 |
Partner - Capital Fixed Income Investors, Capital Research and Management Company; Partner - Capital Fixed Income Investors, Capital Bank and Trust Company*; Director, Capital Research and Management Company |
37 |
None |
|
Courtney K. Wolf, 1982 |
Partner - Capital Fixed Income Investors, Capital Research and Management Company; Director, The Capital Group Companies, Inc.* |
37 |
None |
Capital Group Central Cash Fund - Page 14
Other officers5
|
Name, year of birth |
Principal occupation(s) during the past five years |
|
Steven D. Lotwin, 1969 |
Partner - Capital Fixed Income Investors, Capital Research and Management Company; Director, Capital Research and Management Company |
|
Kristine M. Nishiyama, 1970 |
Senior Vice President - Legal and Compliance Group, Capital Research and Management Company; Chair, Senior Vice President, General Counsel and Director, Capital Bank and Trust Company* |
|
Michael W. Stockton, 1967 |
Senior Vice President - Legal and Compliance Group, Capital Research and Management Company |
|
Courtney R. Taylor, 1975 |
Assistant Vice President - Legal and Compliance Group, Capital Research and Management Company |
|
Becky L. Park, 1979 |
Vice President - Investment Operations, Capital Research and Management Company |
|
Jane Y. Chung, 1974 |
Associate - Legal and Compliance Group, Capital Research and Management Company |
|
Sandra Chuon, 1972 |
Vice President - Investment Operations, Capital Research and Management Company |
|
Brian C. Janssen, 1972 |
Senior Vice President - Legal and Compliance Group, Capital Research and Management Company |
* Company affiliated with Capital Research and Management Company.
1 The term independent trustee refers to a trustee who is not an "interested person" of the fund within the meaning of the 1940 Act.
2 Trustees and officers of the fund serve until their resignation, removal or retirement.
3 This includes all directorships/trusteeships (other than those in the American Funds or other funds managed by Capital Research and Management Company or its affiliates) that are held by each trustee as a director/trustee of a public company or a registered investment company. Unless otherwise noted, all directorships/trusteeships are current.
4 The term interested trustee refers to a trustee who is an "interested person" of the fund within the meaning of the 1940 Act, on the basis of his or her affiliation with the fund's investment adviser, Capital Research and Management Company, or affiliated entities (including the fund's distributor).
5 All of the trustees and/or officers listed are officers and/or directors/trustees of one or more of the other funds for which Capital Research and Management Company serves as investment adviser.
The address for all trustees and officers of the fund is 333 South Hope Street, 55th Floor, Los Angeles, California 90071, Attention: Secretary.
Capital Group Central Cash Fund - Page 15
Fund shares owned by trustees as of December 31, 2025:
|
Name |
Dollar range1,3 |
Aggregate |
Dollar |
Aggregate |
|
Independent trustees |
||||
|
Gina F. Adams |
None |
Over $100,000 |
N/A |
Over $100,000 |
|
Francisco G. Cigarroa |
None |
None |
$50,001 - $100,000 |
Over $100,000 |
|
Nariman Farvardin |
None |
Over $100,000 |
$50,001 - $100,000 |
Over $100,000 |
|
Jennifer C. Feikin |
None |
Over $100,000 |
$10,001 - $50,000 |
Over $100,000 |
|
Leslie Stone Heisz |
None |
Over $100,000 |
N/A |
N/A |
|
Merit E. Janow |
None |
Over $100,000 |
$10,001 - $50,000 |
Over $100,000 |
|
Martin E. Koehler |
None |
Over $100,000 |
N/A |
Over $100,000 |
|
Benjamin R. Miller |
None |
None |
N/A |
N/A |
|
Josette Sheeran |
None |
Over $100,000 |
N/A |
Over $100,000 |
|
Margaret Spellings |
None |
Over $100,000 |
$10,001 - $50,000 |
Over $100,000 |
|
Alexandra Trower |
None |
Over $100,000 |
$50,001 - $100,000 |
Over $100,000 |
|
Paul S. Williams |
None |
Over $100,000 |
$10,001 - $50,000 |
Over $100,000 |
|
Name |
Dollar range1 |
Aggregate |
|
Interested trustees |
||
|
Pramod Atluri |
None |
Over $100,000 |
|
Courtney K. Wolf |
None |
Over $100,000 |
1 Ownership disclosure is made using the following ranges: None; $1 - $10,000; $10,001 - $50,000; $50,001 - $100,000; and Over $100,000. The amounts listed for interested trustees include shares owned through The Capital Group Companies, Inc. retirement plan and/or 401(k) plan, as applicable.
2 N/A indicates that the listed individual, as of December 31, 2025, was not a trustee of the fund (or, as applicable, other funds in the same family of investment companies as the fund), did not allocate deferred compensation to the fund, or did not participate in the deferred compensation plan.
3 Shares of the fund are generally only available for purchase by the fund's investment adviser and its affiliates and other funds and investment vehicles and accounts managed by the fund's investment adviser and its affiliates.
4 Eligible trustees may defer their compensation under a nonqualified deferred compensation plan. Amounts deferred by the trustee accumulate at an earnings rate determined by the total return of one or more American Funds as designated by the trustee.
Capital Group Central Cash Fund - Page 16
Trustee compensation - No compensation is paid by the fund to any officer or trustee who is a director, officer or employee of the investment adviser or its affiliates. Except for the independent trustees listed in the "Board of trustees and officers - Independent trustees" table under the "Management of the fund" section in this Part B of the fund's registration statement, all other officers and trustees of the fund are directors, officers or employees of the investment adviser or its affiliates. The board typically meets either individually or jointly with the boards of one or more other such funds with substantially overlapping board membership (in each case referred to as a "board cluster"). The fund typically pays each independent trustee an annual retainer fee based primarily on the total number of board clusters which that independent trustee serves. Board and committee chairs receive additional fees for their services.
The fund and the other funds served by each independent trustee each pay a portion of these fees.
No pension or retirement benefits are accrued as part of fund expenses. Generally, independent trustees may elect, on a voluntary basis, to defer all or a portion of their fees through a deferred compensation plan in effect for the fund. The fund also reimburses certain expenses of the independent trustees.
Capital Group Central Cash Fund - Page 17
Trustee compensation earned during the fiscal year ended October 31, 2025:
|
Name |
Aggregate compensation |
Total compensation (including |
|
Gina F. Adams |
None |
$344,000 |
|
Francisco G. Cigarroa2 |
$20,499 |
360,000 |
|
Nariman Farvardin2 |
13,057 |
550,000 |
|
Jennifer C. Feikin2 |
20,499 |
468,750 |
|
Leslie Stone Heisz |
20,499 |
468,750 |
|
Mary Davis Holt |
15,776 |
430,000 |
|
Merit E. Janow2 |
13,224 |
577,750 |
|
Martin E. Koehler |
None |
338,000 |
|
Benjamin R. Miller |
None |
None |
|
Josette Sheeran |
None |
404,000 |
|
Margaret Spellings2 |
15,336 |
540,000 |
|
Alexandra Trower2 |
21,069 |
370,000 |
|
Paul S. Williams2 |
21,069 |
370,000 |
1 Amounts may be deferred by eligible trustees under a nonqualified deferred compensation plan adopted by the fund in 2019. Deferred amounts accumulate at an earnings rate determined by the total return of the fund. Compensation shown in this table for the fiscal year ended October 31, 2025 does not include earnings on amounts deferred in previous fiscal years.
2 Since the deferred compensation plan's adoption, the total amount of deferred compensation accrued by the fund (plus earnings thereon) through the end of the October 31, 2025 fiscal year for participating trustees is as follows: Francisco G. Cigarroa ($52,865), Nariman Farvardin ($83,948), Jennifer C. Feikin ($49,186), Merit E. Janow ($16,696), Margaret Spellings ($27,662), Alexandra Trower ($93,774) and Paul S. Williams ($26,995). Amounts deferred and accumulated earnings thereon are not funded and are general unsecured liabilities of the fund until paid to the trustees.
Capital Group Central Cash Fund - Page 18
Fund organization and the board of trustees - The fund is a series of an open-end, diversified management investment company, which was organized as a Delaware statutory trust on January 19, 2018.
Delaware law charges trustees with the duty of managing the business affairs of the trust. Trustees are considered to be fiduciaries of the trust and owe duties of care and loyalty to the trust and its shareholders.
Independent board members are paid certain fees for services rendered to the fund as described above. They may elect to defer all or a portion of these fees through a deferred compensation plan in effect for the fund.
The fund has one share class, the M share class. The trustees have the authority to establish new series and classes of shares, and to split or combine outstanding shares into a greater or lesser number, without shareholder approval.
The fund does not hold annual meetings of shareholders. However, significant matters that require shareholder approval, such as certain elections of board members or a change in a fundamental investment policy, will be presented to shareholders at a meeting called for such purpose. Shareholders have one vote per share owned.
The fund's declaration of trust and by-laws, as well as separate indemnification agreements with independent trustees, provide in effect that, subject to certain conditions, the fund will indemnify its officers and trustees against liabilities or expenses actually and reasonably incurred by them relating to their service to the fund. However, trustees are not protected from liability by reason of their willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of their office.
Leadership structure - The board's chair is currently an independent trustee who is not an "interested person" of the fund within the meaning of the 1940 Act. The board has determined that an independent chair facilitates oversight and enhances the effectiveness of the board. The independent chair's duties include, without limitation, generally presiding at meetings of the board, approving board meeting schedules and agendas, leading meetings of the independent trustees in executive session, facilitating communication with committee chairs, and serving as the principal independent trustee contact for fund management and counsel to the independent trustees and the fund.
Risk oversight - Day-to-day management of the fund, including risk management, is the responsibility of the fund's contractual service providers, including the fund's investment adviser, distributor and transfer agent. Each of these entities is responsible for specific portions of the fund's operations, including the processes and associated risks relating to the fund's investments, integrity of cash movements, financial reporting, operations and compliance. The board of trustees oversees the service providers' discharge of their responsibilities, including the processes they use to manage relevant risks. In that regard, the board receives reports regarding the operations of the fund's service providers, including risks. For example, the board receives reports from investment professionals regarding risks related to the fund's investments and trading. The board also receives compliance reports from the fund's and the investment adviser's chief compliance officers addressing certain areas of risk.
Committees of the fund's board, which are comprised of independent board members, none of whom is an "interested person" of the fund within the meaning of the 1940 Act, as well as joint committees of independent board members of funds managed by Capital Research and Management Company, also explore risk management procedures in particular areas and then report back to the full board.
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For example, the fund's audit committee oversees the processes and certain attendant risks relating to financial reporting, valuation of fund assets, and related controls. Similarly, a joint review and advisory committee oversees certain risk controls relating to the fund's transfer agency services.
Not all risks that may affect the fund can be identified or processes and controls developed to eliminate or mitigate their effect. Moreover, it is necessary to bear certain risks (such as investment-related risks) to achieve the fund's objectives. As a result of the foregoing and other factors, the ability of the fund's service providers to eliminate or mitigate risks is subject to limitations.
Committees of the board of trustees - The fund has an audit committee comprised of Gina F. Adams, Francisco G. Cigarroa, Leslie Stone Heisz, Martin E. Koehler, Benjamin R. Miller, Josette Sheeran and Paul S. Williams. The committee provides oversight regarding the fund's accounting and financial reporting policies and practices, the fund's internal controls and the internal controls of the fund's principal service providers. The committee acts as a liaison between the fund's independent registered public accounting firm and the full board of trustees. The audit committee held five meetings during the 2025 fiscal year.
The fund has a contracts committee comprised of all of its independent board members. The committee's principal function is to request, review and consider the information deemed necessary to evaluate the terms of certain agreements between the fund and its investment adviser or the investment adviser's affiliates, such as the Investment Advisory and Service Agreement and Principal Underwriting Agreement, that the fund may enter into, renew or continue, and to make its recommendations to the full board of trustees on these matters. The contracts committee held one meeting during the 2025 fiscal year.
The fund has a nominating and governance committee comprised of Nariman Farvardin, Jennifer C. Feikin, Merit E. Janow, Margaret Spellings and Alexandra Trower. The committee periodically reviews such issues as the board's composition, responsibilities, committees, compensation and other relevant issues, and recommends any appropriate changes to the full board of trustees. The committee also coordinates annual self-assessments of the board and evaluates, selects and nominates independent trustee candidates to the full board of trustees. While the committee normally is able to identify from its own and other 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 fund, addressed to the fund'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 committee. The nominating and governance committee held two meetings during the 2025 fiscal year.
Proxy voting procedures and principles - The fund's investment adviser, in consultation with the fund's board, has adopted Proxy Voting Procedures and Principles (the "Principles") with respect to voting proxies of securities held by the fund and other funds advised by the investment adviser or its affiliates. The Principles are reasonably designed to ensure that proxies are voted solely in accordance with the financial interest of the clients of the investment adviser or its affiliates and the shareholders of the funds advised or managed by the investment adviser or its affiliates. The complete text of the Principles is available at capitalgroup.com. Final voting authority is held by a committee of the appropriate equity investment division of the investment adviser under authority delegated by the funds' boards. The boards of funds advised by Capital Research and Management Company and its affiliates have established a Joint Proxy Committee ("JPC") composed of independent board members who serve as representatives from each applicable fund board. The JPC's role is to facilitate appropriate oversight of the proxy voting process and provide valuable input on corporate governance and related matters.
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The Principles provide an important framework for analysis and decision-making by all funds. However, they are not exhaustive and do not address all potential issues. The Principles provide a certain amount of flexibility so that all relevant facts and circumstances can be considered in connection with every vote. As a result, each proxy received is voted on a case-by-case basis considering the specific circumstances of each proposal. The voting process reflects the funds' understanding of the company's business, its management and its relationship with shareholders over time. In all cases, long-term value creation and the investment objectives and policies of the funds managed by the investment adviser remain the focus.
The investment adviser seeks to vote all U.S. proxies. Proxies for companies outside the United States are also voted where there is sufficient time and information available, taking into account distinct market practices, regulations and laws, and types of proposals presented in each country. Where there is insufficient proxy and meeting agenda information available, the investment adviser will generally vote against such proposals in the interest of encouraging improved disclosure for investors. The investment adviser may not exercise its voting authority if voting would impose costs on clients, including opportunity costs. For example, certain regulators have granted investment limit relief to the investment adviser and its affiliates, conditioned upon limiting voting power to specific voting ceilings. To comply with these voting ceilings, the investment adviser will scale back its votes across all funds and accounts it manages on a pro rata basis based on assets. In addition, certain countries impose restrictions on the ability of shareholders to sell shares during the proxy solicitation period. The investment adviser may choose, due to liquidity issues, not to expose the funds and accounts it manages to such restrictions and may not vote some (or all) shares. Finally, the investment adviser may determine not to recall securities on loan to exercise its voting rights when it determines that the cost of doing so would exceed the benefits to clients or that the vote would not have a material impact on the investment. Proxies with respect to securities on loan through client-directed lending programs are not available to vote and therefore are not voted.
After a proxy statement is received, the investment adviser's stewardship and engagement team prepares a summary of the proposals contained in the proxy statement.
Investment analysts are generally responsible for making voting recommendations for their investment division on significant votes that relate to companies in their coverage areas. Analysts also have the opportunity to review initial recommendations made by the investment adviser's stewardship and engagement team. Depending on the vote recommendation, a second opinion may be made by a proxy coordinator (an investment professional with experience in corporate governance and proxy voting matters) within the appropriate investment division, based on knowledge of the Principles and familiarity with proxy-related issues. Each of the investment adviser's equity investment divisions has its own proxy voting committee, which is made up of investment professionals within each division. Each division's proxy voting committee retains final authority for voting decisions made by such division. In cases where a fund is co-managed and a security is held by more than one of the investment adviser's equity investment divisions, the divisions may develop different voting recommendations for individual ballot proposals. If this occurs, and if permitted by local market conventions, the fund's position will generally be voted proportionally by divisional holding, according to their respective decisions. Otherwise, the outcome will be determined by the equity investment division or divisions with the larger position in the security as of the record date for the shareholder meeting.
In addition to its proprietary proxy voting, governance and executive compensation research, Capital Research and Management Company may utilize research provided by third-party advisory firms on a case-by-case basis. It does not, as a policy, follow the voting recommendations provided by these firms. It periodically assesses the information provided by the advisory firms and reports to the applicable governance committees that provide oversight of the application of the Principles.
From time to time, the investment adviser may vote proxies issued by, or on proposals sponsored or publicly supported by, (a) a client with substantial assets managed by the investment adviser or its
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affiliates, (b) an entity with a significant business relationship with The Capital Group Companies, Inc. or its affiliates, or (c) a company with a director of an American Fund on its board (each referred to as an "Interested Party"). Other persons or entities may also be deemed an Interested Party if facts or circumstances appear to give rise to a potential conflict.
The investment adviser has developed procedures to identify and address instances when a vote could appear to be influenced by such a relationship. Each equity investment division of the investment adviser has established a Special Review Committee ("SRC") of senior investment professionals and legal and compliance professionals with oversight of potentially conflicted matters.
If a potential conflict is identified according to the procedure above, the SRC will take appropriate steps to address the conflict of interest. These steps may include engaging an independent third party to review the proxy and using the Principles to provide an independent voting recommendation to the investment adviser for vote execution. The investment adviser will generally follow the third party's recommendation, except when it believes the recommendation is inconsistent with the investment adviser's fiduciary duty to its clients. Occasionally, it may not be feasible to engage the third party to review the matter due to compressed timeframes or other operational issues. In this case, the SRC will take appropriate steps to address the conflict of interest, including reviewing the proxy after being provided with a summary of any relevant communications with the Interested Party, the rationale for the voting decision, information on the organization's relationship with the Interested Party and any other pertinent information.
Information regarding how the fund voted proxies relating to portfolio securities during the 12-month period ended June 30 of each year will be available on or about September 1 of such year (a) without charge, upon request by calling American Funds Service Company at (800) 421-4225, (b) on the Capital Group website and (c) on the SEC's website at sec.gov.
The following summary sets forth the general positions of the investment adviser on various proposals. A copy of the full Principles is available upon request, free of charge, by calling American Funds Service Company or visiting the fund's website.
Director matters - The election of a company's slate of nominees for director generally is supported. Votes may be withheld for some or all of the nominees if this is determined to be in the best interest of shareholders or if, in the opinion of the investment adviser, such nominee has not fulfilled his or her fiduciary duty. In making this determination, the investment adviser considers, among other things, a nominee's potential conflicts of interest, track record (whether in the current board seat or in previous executive or director roles) with respect to shareholder protection and value creation as well as their capacity for full engagement on board matters. The investment adviser generally supports a breadth of experience and perspectives among board members, and the separation of the chairman and CEO positions.
Governance provisions - Proposals to declassify a board (elect all directors annually) generally are supported based on the belief that this increases the directors' sense of accountability to shareholders. Proposals for cumulative voting generally are supported in order to promote management and board accountability and an opportunity for leadership change. Proposals designed to make director elections more meaningful, either by requiring a majority vote or by requiring any director receiving more withhold votes than affirmative votes to tender his or her resignation, generally are supported.
Shareholder rights - Proposals to repeal an existing poison pill generally are supported. (There may be certain circumstances, however, when a proxy voting committee of a fund or an investment division of the investment adviser believes that a company needs to maintain
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anti-takeover protection.) Proposals to eliminate the right of shareholders to act by written consent or to take away a shareholder's right to call a special meeting typically are not supported.
Compensation and benefit plans - Equity incentive plans are complicated, and many factors are considered in evaluating a plan. Each plan is evaluated based on protecting shareholder interests and a knowledge of the company and its management. Considerations include the pricing (or repricing) of options awarded under the plan and the impact of dilution on existing shareholders from past and future equity awards. Compensation packages should be structured to attract, motivate and retain existing employees and qualified directors; in addition, they should be aligned with the long-term success of the company and the enhancement of shareholder value.
Routine matters - The ratification of auditors, procedural matters relating to the annual meeting and changes to company name are examples of items considered routine. Such items generally are voted in favor of management's recommendations unless circumstances indicate otherwise.
Shareholder proposals on environmental and social issues - The investment adviser believes environmental and social issues present investment risks and opportunities that can shape a company's long-term financial sustainability. Shareholder proposals, including those relating to social and environmental issues, are evaluated in terms of their materiality to the company and its ability to generate long-term value in light of the company's business model specific operating context. The investment adviser generally supports transparency and standardized disclosure, particularly that which leverages existing regulatory reporting or industry best practices. With respect to environmental matters, this includes disclosures aligned with industry standards and reporting on sustainability issues that are material to investment analysis. With respect to social matters, the investment adviser encourages companies to disclose the composition of the workforce in a regionally appropriate manner. The investment adviser supports relevant reporting and disclosure that is consistent with broadly applicable standards.
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Principal fund shareholders - The following table identifies those investors who own of record, or are known by the fund to own beneficially, 5% or more of any class of its shares as of the opening of business on January 1, 2026. Unless otherwise indicated, the ownership percentages below represent ownership of record rather than beneficial ownership.
|
Name and address |
Ownership |
Ownership percentage |
|
|
American Balanced Fund |
Record |
Class M |
11.27% |
|
Omnibus account |
|||
|
Norfolk, VA |
|||
|
The Bond Fund of America |
Record |
Class M |
6.88% |
|
Omnibus account |
|||
|
Norfolk, VA |
|||
|
The Income Fund of America |
Record |
Class M |
6.77% |
|
Omnibus account |
|||
|
Norfolk, VA |
|||
|
The Growth Fund of America |
Record |
Class M |
6.65% |
|
Omnibus account |
|||
|
Norfolk, VA |
|||
|
Capital Income Builder |
Record |
Class M |
5.98% |
|
Omnibus account |
|||
|
Norfolk, VA |
|||
|
New Perspective Fund |
Record |
Class M |
5.13% |
|
Omnibus account |
|||
|
Norfolk, VA |
|||
As of January 1, 2026, the officers and trustees of the fund, as a group, owned beneficially or of record less than 1% of the outstanding shares of the fund.
Investment adviser - Capital Research and Management Company, the fund's investment adviser, founded in 1931, maintains research facilities in the United States and abroad (Geneva, Hong Kong, London, Los Angeles, Mumbai, New York, San Francisco, Singapore, Tokyo, Toronto and Washington, D.C.). These facilities are staffed with experienced investment professionals. The investment adviser is located at 333 South Hope Street, Los Angeles, CA 90071. It is a wholly owned subsidiary of The Capital Group Companies, Inc., a holding company for several investment management subsidiaries. Capital Research and Management Company manages equity assets through three equity investment divisions and fixed income assets through its fixed income investment division, Capital Fixed Income Investors. The three equity investment divisions - Capital World Investors, Capital Research Global Investors and Capital International Investors - make investment decisions independently of one another. Portfolio managers in Capital International Investors rely on a research team that also provides investment services to institutional clients and other accounts advised by affiliates of Capital Research and Management Company. The investment adviser, which is deemed under the Commodity Exchange Act (the "CEA") to be the operator of the fund, has claimed an exclusion from the definition of the term commodity pool operator under the CEA with respect to the fund and, therefore, is not subject to registration or regulation as such under the CEA with respect to the fund.
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Investment Advisory and Service Agreement - The Investment Advisory and Service Agreement (the "Agreement") between the fund and the investment adviser will continue in effect until April 30, 2026, unless sooner terminated, and may be renewed from year to year thereafter, provided that any such renewal has been specifically approved at least annually by (a) the board of trustees, or by the vote of a majority (as defined in the 1940 Act) of the outstanding voting securities of the fund, and (b) the vote of a majority of trustees who are not parties to the Agreement or interested persons (as defined in the 1940 Act) of any such party, in accordance with applicable laws and regulations. The Agreement provides that the investment adviser has no liability to the fund for its acts or omissions in the performance of its obligations to the fund not involving willful misconduct, bad faith, gross negligence or reckless disregard of its obligations under the Agreement. The Agreement also provides that either party has the right to terminate it, without penalty, upon 60 days' written notice to the other party, and that the Agreement automatically terminates in the event of its assignment (as defined in the 1940 Act). In addition, the Agreement provides that the investment adviser may delegate all, or a portion of, its investment management responsibilities to one or more subsidiary advisers approved by the fund's board, pursuant to an agreement between the investment adviser and such subsidiary. Any such subsidiary adviser will be paid solely by the investment adviser out of its fees.
In addition to providing investment advisory services, the investment adviser furnishes the services and pays the compensation and travel expenses of persons to perform the fund's executive, administrative, clerical and bookkeeping functions, and provides suitable office space, necessary small office equipment and utilities, general purpose accounting forms, supplies and postage used at the fund's offices. The fund pays all expenses not assumed by the investment adviser, including, but not limited to: custodian, stock transfer and dividend disbursing fees and expenses; shareholder recordkeeping; costs of the designing, printing and mailing of reports, registration statements, proxy statements and notices to its shareholders; taxes; expenses of the issuance and redemption of fund shares (including stock certificates, registration and qualification fees and expenses); legal and auditing expenses; compensation, fees and expenses paid to independent trustees; association dues; costs of stationery and forms prepared exclusively for the fund; and costs of assembling and storing shareholder account data.
Under the Agreement, the fund does not pay any management fee to the investment adviser.
Distributor - Capital Client Group, Inc. (the "distributor") is the distributor of the fund's shares. The distributor is located at 333 South Hope Street, Los Angeles, CA 90071; 6455 Irvine Center Drive, Irvine, CA 92618; 3500 Wiseman Boulevard, San Antonio, TX 78251; 12811 North Meridian Street, Carmel, IN 46032; 399 Park Avenue, 34th Floor, New York, NY 10022; and 444 W. Lake Street, Suite 4600, Chicago, IL 60606.
The distributor receives no compensation from the fund.
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Execution of portfolio transactions
The investment adviser places orders with broker-dealers for the fund's portfolio transactions. Purchases and sales of equity securities on a securities exchange or an over-the-counter market are effected through broker-dealers who receive commissions for their services. Generally, commissions relating to securities traded on foreign exchanges will be higher than commissions relating to securities traded on U.S. exchanges and may not be subject to negotiation. Equity securities may also be purchased from underwriters at prices that include underwriting fees. Purchases and sales of fixed income securities are generally made with an issuer or a primary market maker acting as principal with no stated brokerage commission. The price paid to an underwriter for fixed income securities includes underwriting fees. Prices for fixed income securities in secondary trades usually include undisclosed compensation to the market maker reflecting the spread between the bid and ask prices for the securities.
In selecting broker-dealers, the investment adviser strives to obtain "best execution" (the most favorable total price reasonably attainable under the circumstances) for the fund's portfolio transactions, taking into account a variety of factors. These factors include the size and type of transaction, the nature and character of the markets for the security to be purchased or sold, the cost, quality, likely speed and reliability of execution and settlement, the broker-dealer's or execution venue's ability to offer liquidity and anonymity and the trade-off between market impact and opportunity costs. The investment adviser considers these factors, which involve qualitative judgments, when selecting broker-dealers and execution venues for fund portfolio transactions. The investment adviser views best execution as a process that should be evaluated over time as part of an overall relationship with particular broker-dealer firms. The investment adviser and its affiliates negotiate commission rates with broker-dealers based on what they believe is reasonably necessary to obtain best execution. They seek, on an ongoing basis, to determine what the reasonable levels of commission rates for execution services are in the marketplace, taking various considerations into account, including the extent to which a broker-dealer has put its own capital at risk, historical commission rates and commission rates that other institutional investors are paying. The fund does not consider the investment adviser as having an obligation to obtain the lowest commission rate available for a portfolio transaction to the exclusion of price, service and qualitative considerations. Brokerage commissions are only a small part of total execution costs and other factors, such as market impact and speed of execution, contribute significantly to overall transaction costs.
The investment adviser may execute portfolio transactions with broker-dealers who provide certain brokerage and/or investment research services to it but only when in the investment adviser's judgment the broker-dealer is capable of providing best execution for that transaction. The investment adviser makes decisions for procurement of research separately and distinctly from decisions on the choice of brokerage and execution services. The receipt of these research services permits the investment adviser to supplement its own research and analysis and makes available the views of, and information from, individuals and the research staffs of other firms. Such views and information may be provided in the form of written reports, telephone contacts and meetings with securities analysts. These services may include, among other things, reports and other communications with respect to individual companies, industries, countries and regions, economic, political and legal developments, as well as scheduling meetings with corporate executives and seminars and conferences related to relevant subject matters. Research services that the investment adviser receives from broker-dealers may be used by the investment adviser in servicing the fund and other funds and accounts that it advises; however, not all such services will necessarily benefit the fund.
The investment adviser bears the cost of all third-party investment research services for all client accounts it advises. However, in order to compensate certain U.S. broker-dealers for research consumed, and valued, by the investment adviser's investment professionals, the investment adviser continues to operate a limited commission sharing arrangement with commissions on equity trades for certain registered investment companies it advises. The investment adviser voluntarily reimburses such
Capital Group Central Cash Fund - Page 26
registered investment companies for all amounts collected into the commission sharing arrangement. In order to operate the commission sharing arrangement, the investment adviser may cause such registered investment companies to pay commissions in excess of what other broker-dealers might have charged for certain portfolio transactions in recognition of brokerage and/or investment research services. In this regard, the investment adviser has adopted a brokerage allocation procedure consistent with the requirements of Section 28(e) of the Securities Exchange Act of 1934. Section 28(e) permits the investment adviser and its affiliates to cause an account to pay a higher commission to a broker-dealer to compensate the broker-dealer or another service provider for certain brokerage and/or investment research services provided to the investment adviser and its affiliates, if the investment adviser and each affiliate makes a good faith determination that such commissions are reasonable in relation to the value of the services provided by such broker-dealer to the investment adviser and its affiliates in terms of that particular transaction or the investment adviser's overall responsibility to the fund and other accounts that it advises. Certain brokerage and/or investment research services may not necessarily benefit all accounts paying commissions to each such broker-dealer; therefore, the investment adviser and its affiliates assess the reasonableness of commissions in light of the total brokerage and investment research services provided to the investment adviser and its affiliates. Further, investment research services may be used by all investment associates of the investment adviser and its affiliates, regardless of whether they advise accounts with trading activity that generates eligible commissions.
In accordance with their internal brokerage allocation procedure, the investment adviser and its affiliates periodically assess the brokerage and investment research services provided by each broker-dealer and each other service provider from which they receive such services. As part of its ongoing relationships, the investment adviser and its affiliates routinely meet with firms to discuss the level and quality of the brokerage and research services provided, as well as the value and cost of such services. In valuing the brokerage and investment research services the investment adviser and its affiliates receive from broker-dealers and other research providers in connection with its good faith determination of reasonableness, the investment adviser and its affiliates take various factors into consideration, including the quantity, quality and usefulness of the services to the investment adviser and its affiliates. Based on this information and applying their judgment, the investment adviser and its affiliates set an annual research budget.
Research analysts and portfolio managers periodically participate in a research poll to determine the usefulness and value of the research provided by individual broker-dealers and research providers. Based on the results of this research poll, the investment adviser and its affiliates may, through commission sharing arrangements with certain broker-dealers, direct a portion of commissions paid to a broker-dealer by the funds and other registered investment companies managed by the investment adviser or its affiliates to be used to compensate the broker-dealer and/or other research providers for research services they provide. While the investment adviser and its affiliates may negotiate commission rates and enter into commission sharing arrangements with certain broker-dealers with the expectation that such broker-dealers will be providing brokerage and research services, none of the investment adviser, any of its affiliates or any of their clients incurs any obligation to any broker-dealer to pay for research by generating trading commissions. The investment adviser and its affiliates negotiate prices for certain research that may be paid through commission sharing arrangements or by themselves with cash.
When executing portfolio transactions in the same equity security for the funds and accounts, or portions of funds and accounts, over which the investment adviser, through its equity investment divisions, has investment discretion, each investment division within the adviser and its affiliates normally aggregates its respective purchases or sales and executes them as part of the same transaction or series of transactions. When executing portfolio transactions in the same fixed income security for the fund and the other funds or accounts over which it or one of its affiliated companies has investment discretion, the investment adviser normally aggregates such purchases or sales and executes them as part of the same transaction or series of transactions. The objective of aggregating
Capital Group Central Cash Fund - Page 27
purchases and sales of a security is to allocate executions in an equitable manner among the funds and other accounts that have concurrently authorized a transaction in such security. The investment adviser and its affiliates serve as investment adviser for certain accounts that are designed to be substantially similar to another account. This type of account will often generate a large number of relatively small trades when it is rebalanced to its reference fund due to differing cash flows or when the account is initially started up. The investment adviser may not aggregate program trades or electronic list trades executed as part of this process. Non-aggregated trades performed for these accounts will be allocated entirely to that account. This is done only when the investment adviser believes doing so will not have a material impact on the price or quality of other transactions.
The investment adviser currently owns a minority interest in IEX Group and alternative trading systems, Luminex ATS and LeveL ATS (through a minority interest in their common parent holding company). The investment adviser, or brokers with whom the investment adviser places orders, may place orders on these or other exchanges or alternative trading systems in which it, or one of its affiliates, has an ownership interest, provided such ownership interest is less than five percent of the total ownership interests in the entity. The investment adviser is subject to the same best execution obligations when trading on any such exchange or alternative trading systems.
Purchase and sale transactions may be effected directly among and between certain funds or accounts advised by the investment adviser or its affiliates, including the fund. The investment adviser maintains cross-trade policies and procedures and places a cross-trade only when such a trade is in the best interest of all participating clients and is not prohibited by the participating funds' or accounts' investment management agreement or applicable law.
The investment adviser may place orders for the fund's portfolio transactions with broker-dealers who have sold shares of the funds managed by the investment adviser or its affiliated companies; however, it does not consider whether a broker-dealer has sold shares of the funds managed by the investment adviser or its affiliated companies when placing any such orders for the fund's portfolio transactions.
No brokerage commissions were paid by the fund on portfolio transactions for the fiscal years ended October 31, 2025, 2024 and 2023.
The fund is required to disclose information regarding investments in the securities of its "regular" broker-dealers (or parent companies of its regular broker-dealers) that derive more than 15% of their revenue from broker-dealer, underwriter or investment adviser activities. A regular broker-dealer is (a) one of the 10 broker-dealers that received from the fund the largest amount of brokerage commissions by participating, directly or indirectly, in the fund's portfolio transactions during the fund's most recently completed fiscal year; (b) one of the 10 broker-dealers that engaged as principal in the largest dollar amount of portfolio transactions of the fund during the fund's most recently completed fiscal year; or (c) one of the 10 broker-dealers that sold the largest amount of securities of the fund during the fund's most recently completed fiscal year.
At the end of the fund's most recently completed fiscal year, the fund did not hold securities of any of its regular broker-dealers.
Capital Group Central Cash Fund - Page 28
Disclosure of portfolio holdings
The fund's investment adviser, on behalf of the fund, has adopted policies and procedures with respect to the disclosure of information about fund portfolio securities. These policies and procedures have been reviewed by the fund's board of trustees and compliance will be periodically assessed by the board in connection with reporting from the fund's Chief Compliance Officer.
Under rule 2a-7 of the 1940 Act, the fund's complete list of portfolio holdings, dated as of the end of each month, must be posted on the fund's website within five business days after the end of the applicable month. Under the fund's policies and procedures, such portfolio holdings information may then be disclosed to any person pursuant to an ongoing arrangement to disclose portfolio holdings information to such person no earlier than one day after the day on which the information is posted on the fund's website. The investment adviser may disclose individual holdings more frequently on the Capital Group website if it determines it is in the best interest of the fund.
Certain intermediaries are provided additional information about the fund's management team, including information on the fund's portfolio securities they have selected. This information is provided to larger intermediaries that require the information to make the fund available for investment on the firm's platform. Intermediaries receiving the information are required to keep it confidential and use it only to perform analysis on the fund.
The fund's custodian, outside counsel, auditor, financial printers, proxy voting and class action claims processing service providers, pricing information vendors, consultants or agents operating under a contract with the investment adviser or its affiliates, co-litigants (such as in connection with a bankruptcy proceeding related to a fund holding) and certain other third parties described below, each of which requires portfolio holdings information for legitimate business and fund oversight purposes, may receive the information earlier. See the "General information" section in this Part B of the fund's registration statement for further information about the fund's custodian, outside counsel and auditor.
Affiliated persons of the fund, including officers of the fund and employees of the investment adviser and its affiliates, who receive portfolio holdings information are subject to restrictions and limitations on the use and handling of such information pursuant to applicable codes of ethics, including requirements not to trade in securities based on confidential and proprietary investment information, to maintain the confidentiality of such information, and to preclear securities trades and report securities transactions activity, as applicable. For more information on these restrictions and limitations, please see the "Code of Ethics" section in this Part B of the fund's registration statement and the Code of Ethics. Third-party service providers of the fund, and other entities as described in this Part B of the fund's registration statement, receiving such information are subject to confidentiality obligations and obligations that would prohibit them from trading in securities based on such information. When portfolio holdings information is disclosed other than through the fund's website to persons not affiliated with the fund (which, as described above, would typically occur no earlier than one day after the day on which the information is posted on the fund's website), such persons will be bound by agreements (including confidentiality agreements) or fiduciary obligations that restrict and limit their use of the information to legitimate business uses only. None of the fund nor its investment adviser or any of their affiliates receives compensation or other consideration in connection with the disclosure of information about portfolio securities.
Subject to board policies, the authority to disclose the fund's portfolio holdings, and to establish policies with respect to such disclosure, resides with the appropriate investment-related committees of the fund's investment adviser. In exercising their authority, the committees determine whether disclosure of information about the fund's portfolio securities is appropriate and in the best interest of fund shareholders. The investment adviser has implemented policies and procedures to address
Capital Group Central Cash Fund - Page 29
conflicts of interest that may arise from the disclosure of fund holdings. For example, the investment adviser's code of ethics specifically requires, among other things, the safeguarding of information about fund holdings and contains prohibitions designed to prevent the personal use of confidential, proprietary investment information in a way that would conflict with fund transactions. In addition, the investment adviser believes that its current policy of not selling portfolio holdings information and not disclosing such information to unaffiliated third parties until such holdings have been made public on the fund's website (other than to certain fund service providers and other third parties for legitimate business and fund oversight purposes) helps reduce potential conflicts of interest between fund shareholders and the investment adviser and its affiliates.
Capital Group Central Cash Fund - Page 30
Price of shares
Shares are purchased at the offering price or sold at the net asset value price next determined after the purchase or sell order is received by the fund or the Transfer Agent provided that your request contains all information and legal documentation necessary to process the transaction. The Transfer Agent may accept written orders for the sale of fund shares on a future date. These orders are subject to the Transfer Agent's policies, which generally allow shareholders to provide a written request to sell shares at the net asset value on a specified date no more than five business days after receipt of the order by the Transfer Agent. Any request to sell shares on a future date will be rejected if the request is not in writing, if the requested transaction date is more than five business days after the Transfer Agent receives the request or if the request does not contain all information and legal documentation necessary to process the transaction.
The price you pay for shares, the offering price, is based on the net asset value per share which is calculated once daily as of the close of regular trading on the New York Stock Exchange, normally 4 p.m. New York time, each day the New York Stock Exchange is open. If the New York Stock Exchange makes a scheduled (e.g., the day after Thanksgiving) or an unscheduled close prior to 4 p.m. New York time, the net asset value of the fund will be determined at approximately the time the New York Stock Exchange closes on that day. If on such a day market quotations and prices from third-party pricing services are not based as of the time of the early close of the New York Stock Exchange but are as of a later time (up to approximately 4 p.m. New York time), for example because the market remains open after the close of the New York Stock Exchange, those later market quotations and prices will be used in determining the fund's net asset value. The fund may also calculate its share price on days the New York Stock Exchange is closed, consistent with applicable regulatory guidance.
Orders in good order received after the New York Stock Exchange closes (scheduled or unscheduled) will be processed at the net asset value (plus any applicable sales charge) calculated on the following business day. The New York Stock Exchange is currently closed on weekends and on the following holidays: New Year's Day; Martin Luther King Jr. Day; Presidents' Day; Good Friday; Memorial Day; Juneteenth National Independence Day; Independence Day; Labor Day; Thanksgiving Day; and Christmas Day.
The fund's initial net asset value of $100.00 is calculated to two decimal places. The fund's net asset value will vary as a result of changes in the value of the securities in which the fund invests. The fund follows standard industry practice by typically reflecting changes in its holdings of portfolio securities on the first business day following a portfolio trade. However, changes in the fund's holdings of short-term securities that settle within the same day are reflected on the same day of the portfolio trade.
Fixed income securities are generally valued at evaluated prices obtained from third-party pricing vendors. Vendors value such securities based on one or more inputs that may include, among other things, benchmark yields, transactions, bids, offers, quotations from dealers and trading systems, new issues, underlying equity of the issuer, interest rate volatilities, 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, prepayment information, default rates, delinquency and loss assumptions, financial or collateral characteristics or performance, credit enhancements, liquidation value calculations, specific deal information and other reference data. However, certain short-term securities, such as repurchase agreements and daily variable rate notes, are generally valued at par.
Securities and other assets for which representative market quotations are not readily available or are considered unreliable by the investment adviser are valued at fair value as determined in good faith under fair value guidelines adopted by the investment adviser and approved by the fund's board. Subject to board oversight, the fund's board has designated the fund's investment adviser to make fair
Capital Group Central Cash Fund - Page 31
valuation determinations, which are directed by a valuation committee established by the fund's investment adviser. The board receives regular reports describing fair-valued securities and the valuation methods used.
As a general principle, these guidelines consider relevant company, market and other data and considerations to determine the price that the fund might reasonably expect to receive if such fair valued securities were sold in an orderly transaction. Fair valuations may differ materially from valuations that would have been used had greater market activity occurred. The investment adviser's valuation committee considers relevant indications of value that are reasonably and timely available to it in determining the fair value to be assigned to a particular security, such as the type and cost of the security, restrictions on resale of the security, relevant financial or business developments of the issuer, actively traded similar or related securities and transactions, dealer or broker quotes, 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. The valuation committee employs additional fair value procedures to address issues related to equity securities that trade principally in markets outside the United States. Such securities may trade in markets that open and close at different times, reflecting time zone differences. If significant events occur after the close of a market (and before the fund's net asset values are next determined) which affect the value of equity securities held in the fund's portfolio, appropriate adjustments from closing market prices may be made to reflect these events. Events of this type could include, for example, earthquakes and other natural disasters or significant price changes in other markets (e.g., U.S. stock markets).
Net assets so obtained for the fund are then divided by the total number of shares outstanding, and the result, calculated to two decimal places or equivalent value, is the net asset value per share for the fund.
Capital Group Central Cash Fund - Page 32
Taxes and distributions
Taxation as a regulated investment company - The fund intends to qualify each year as a "regulated investment company" under Subchapter M of the Internal Revenue Code ("Code") so that it will not be liable for federal tax on income and capital gains distributed to shareholders. In order to qualify as a regulated investment company, and avoid being subject to federal income taxes, the fund intends to distribute substantially all of its net investment income and realized net capital gains on a fiscal year basis, and intends to comply with other tests applicable to regulated investment companies under Subchapter M.
The Code includes savings provisions allowing the fund to cure inadvertent failures of certain qualification tests required under Subchapter M. However, should the fund fail to qualify under Subchapter M, the fund would be subject to federal, and possibly state, corporate taxes on its taxable income and gains.
Amounts not distributed by the fund on a timely basis in accordance with a calendar year distribution requirement may be subject to a nondeductible 4% excise tax. Unless an applicable exception applies, to avoid the tax, the fund must distribute during each calendar year an amount equal to the sum of (a) at least 98% of its ordinary income (not taking into account any capital gains or losses) for the calendar year, (b) at least 98.2% of its capital gains in excess of its capital losses for the twelve month period ending on October 31, and (c) all ordinary income and capital gains for previous years that were not distributed during such years and on which the fund paid no U.S. federal income tax.
Dividends paid by the fund from ordinary income or from an excess of net short-term capital gain over net long-term capital loss are taxable to shareholders as ordinary income dividends. The fund does not typically realize short- or long-term capital gains or losses on sales of securities.
Certain distributions reported by the fund as Section 163(j) interest dividends may be treated as interest income by shareholders for purposes of the tax rules applicable to interest expense limitations under Section 163(j) of the Code. Such treatment by the shareholder is generally subject to holding period requirements and other potential limitations, although the holding period requirements are generally not applicable to dividends declared by money market funds and certain other funds that declare dividends daily and pay such dividends on a monthly or more frequent basis. The amount that the fund is eligible to report as a Section 163(j) dividend for a tax year is generally limited to the excess of the fund's business interest income over the sum of the fund's (i) business interest expense and (ii) other deductions properly allocable to the fund's business interest income.
Individuals (and certain other non-corporate entities) are generally eligible for a 20% deduction with respect to taxable ordinary REIT dividends through 2025. Applicable Treasury regulations allow the fund to pass through to its shareholders such taxable ordinary REIT dividends. Accordingly, individual (and certain other non-corporate) shareholders of the fund that have received such taxable ordinary REIT dividends may be able to take advantage of this 20% deduction with respect to any such amounts passed through.
Taxation on sale of fund shares - Because the fund's net asset value floats, a sale of fund shares may result in a gain or loss for a shareholder. Assuming a shareholder holds the shares as a capital asset, any gain or loss recognized on a sale of shares will be treated as capital in nature. Unless a shareholder chooses to adopt the simplified "NAV method" of accounting as described below, this capital gain or loss generally will be treated as short-term if the shareholder held fund shares for one year or less or long-term if the shareholder held fund shares for longer.
Capital Group Central Cash Fund - Page 33
Any loss realized on the sale of fund shares that a shareholder held for 6 months or less may be disallowed to the extent of any distributions treated as "exempt-interest dividends" with respect to those shares.
The Internal Revenue Service has published guidance providing that the "wash sale" rule of the Code does not apply to sales of shares in a money market fund with a floating net asset value. The wash sale rule disallows losses on taxable sales where other substantially identical shares are purchased (including by dividend reinvestment) within 30 days before or after the sale. Therefore, if a shareholder that sells shares of the fund at a loss and, within 30 days before or after this sale, purchases additional shares of the fund, then such loss will not be disallowed under the wash sale rule.
If the shareholder elects to adopt the NAV method of accounting, rather than compute any gain or loss on every taxable sale of fund shares, the shareholder would determine the gain or loss based on the change in the aggregate value of the fund shares during a computation period (e.g., the shareholder's taxable year or certain shorter periods), reduced by its net investment (purchases minus taxable sales) in those fund shares during the period. Under the NAV method, if a shareholder holds the shares as a capital asset, any resulting net gain or loss would be treated as short-term capital gain or loss.
Shareholders are permitted to use different methods of accounting for shares of a single fund that are held in different accounts or for shares of different money market funds in the same account.
Discount - Certain bonds acquired by the fund, such as zero coupon bonds, may be treated as bonds that were originally issued at a discount. Original issue discount represents interest for federal income tax purposes and is generally defined as the difference between the price at which a bond was issued (or the price at which it was deemed issued for federal income tax purposes) and its stated redemption price at maturity. Original issue discount is treated for federal income tax purposes as tax exempt income earned by a fund over the term of the bond, and therefore is subject to the distribution requirements of the Code. The annual amount of income earned on such a bond by a fund generally is determined on the basis of a constant yield to maturity which takes into account the semiannual compounding of accrued interest (including original issue discount). Certain bonds acquired by the fund may also provide for contingent interest and/or principal. In such a case, rules similar to those for original issue discount bonds would require the accrual of income based on an assumed yield that may exceed the actual interest payments on the bond.
Some of the bonds may be acquired by a fund on the secondary market at a discount which exceeds the original issue discount, if any, on such bonds. This additional discount constitutes market discount for federal income tax purposes. Any gain recognized on the disposition of any bond having market discount generally will be treated as taxable ordinary income to the extent it does not exceed the accrued market discount on such bond (unless a fund elects to include market discount in income in the taxable years to which it is attributable). Realized accrued market discount on obligations that pay tax-exempt interest is nonetheless taxable. Generally, market discount accrues on a daily basis for each day the bond is held by a fund at a constant rate over the time remaining to the bond's maturity. In the case of any debt instrument having a fixed maturity date of not more than one year from date of issue, the gain realized on disposition will be treated as short-term capital gain. Some of the bonds acquired by a fund with a fixed maturity date of one year or less from the date of their issuance may be treated as having original issue discount or, in certain cases, "acquisition discount" (generally, the excess of a bond's stated redemption price at maturity over its acquisition price). A fund will be required to include any such original issue discount or acquisition discount in taxable ordinary income. The rate at which such acquisition discount and market discount accrues, and is thus included in a fund's investment company taxable income, will depend upon which of the permitted accrual methods the fund elects.
Capital Group Central Cash Fund - Page 34
Purchase and exchange of shares
Shares of the fund are purchased by (a) other funds and investment vehicles and accounts managed by the fund's investment adviser and its affiliates and (b) the fund's investment adviser and its affiliates. Shares of the fund are not available to the public. The fund may accept securities in-kind in exchange for shares of the fund in accordance with the fund's policy and procedures relating to in-kind purchase transactions.
Shares of the fund cannot be exchanged with shares of other funds or investment vehicles managed by the investment adviser or its affiliates. In addition, the fund shares cannot be transferred or resold without registration under the 1933 Act or an available exemption from registration under the 1933 Act.
Frequent trading of fund shares - As noted in Part A of the fund's registration statement, the investment adviser anticipates that fund shares may be purchased and sold frequently because the fund is designed to offer a liquid investment option. For this reason, the board has not adopted policies and procedures designed to detect and deter excessive trading of fund shares.
Capital Group Central Cash Fund - Page 35
Selling shares
The methods for selling (redeeming) shares are described more fully in Part A of the fund's registration statement.
Except for extraordinary circumstances (and as permissible under the 1940 Act), the fund typically expects to send redemption proceeds one business day following receipt and acceptance of a redemption order. Interest will not accrue or be paid on amounts that represent uncashed distribution or redemption checks.
Capital Group Central Cash Fund - Page 36
Shareholder account services and privileges
The following services and privileges are generally available to all shareholders.
Automatic reinvestment - Dividends and capital gain distributions will be automatically reinvested in additional shares of the same class and fund at net asset value.
Account statements - Your account is opened in accordance with your registration instructions. Transactions in the account, such as additional investments, will be reflected on regular confirmation statements from the Transfer Agent. Dividend and capital gain reinvestments will be confirmed at least quarterly.
Telephone and Internet purchases, redemptions and exchanges - By using the telephone or the Internet (including capitalgroup.com), or fax purchase, redemption and/or exchange options, you agree to hold the fund, the Transfer Agent, any of its affiliates or mutual funds managed by such affiliates, and each of their respective directors, trustees, officers, employees and agents harmless from any losses, expenses, costs or liabilities (including attorney fees) that may be incurred in connection with the exercise of these privileges. Generally, all shareholders are automatically eligible to use these services. However, you may elect to opt out of these services by writing the Transfer Agent (you may also reinstate them at any time by writing the Transfer Agent). If the Transfer Agent does not employ reasonable procedures to confirm that the instructions received from any person with appropriate account information are genuine, it and/or the fund may be liable for losses due to unauthorized or fraudulent instructions. In the event that shareholders are unable to reach the fund by telephone because of technical difficulties, market conditions or a natural disaster, redemption and exchange requests may be made in writing only.
Redemption of shares - The fund's declaration of trust permits the fund to direct the Transfer Agent to redeem the shares of any shareholder for their then current net asset value per share if at such time the shareholder of record owns shares having an aggregate net asset value of less than the minimum initial investment amount required of new shareholders as the board of trustees of the fund may from time to time adopt.
While payment of redemptions normally will be in cash, the fund's declaration of trust permits payment of the redemption price wholly or partly with portfolio securities or other fund assets under conditions and circumstances determined by the fund's board of trustees. For example, redemptions could be made in this manner if the board determined that making payments wholly in cash over a particular period would be unfair and/or harmful to other fund shareholders.
Capital Group Central Cash Fund - Page 37
General information
Custodian of assets - Securities and cash owned by the fund, including proceeds from the sale of shares of the fund and of securities in the fund's portfolio, are held by JP Morgan Chase Bank N.A., 270 Park Avenue, New York, NY 10017-2070, as custodian. If a fund holds securities of issuers outside the United States, the Custodian may hold these securities pursuant to subcustodial arrangements in banks outside the United States or branches of U.S. banks outside the United States.
Transfer agent services - American Funds Service Company, a wholly owned subsidiary of the investment adviser, maintains the records of shareholder accounts, processes purchases and redemptions of the fund's shares, acts as dividend and capital gain distribution disbursing agent, and performs other related shareholder service functions. The principal office of American Funds Service Company is located at 6455 Irvine Center Drive, Irvine, CA 92618. Transfer agent fees are paid according to a fee schedule, based on the number of accounts serviced, contained in a Shareholder Services Agreement between the fund and American Funds Service Company.
Compensation for transfer agency services is ultimately paid from fund assets as disclosed in Part A of the fund's registration statement.
During the 2025 fiscal year, transfer agent fees, gross of any payments made by American Funds Service Company to third parties, were $4,000.
The fund's transfer agent is currently waiving transfer agent fees. This waiver will be in effect through at least February 1, 2027. The transfer agent may elect at its discretion to extend, modify or terminate the waiver at that time.
Independent registered public accounting firm - PricewaterhouseCoopers LLP ("PwC"), 601 South Figueroa Street, Los Angeles, CA 90017, serves as the fund's independent registered public accounting firm, providing audit services, preparation of tax returns and review of certain documents to be filed with the SEC. The financial statements and financial highlights of the fund included in this Part B of the fund's registration statement that are from the fund's Form N-CSR for the most recent fiscal year have been audited by PwC, an independent registered public accounting firm, as stated in their report appearing herein. Such financial statements and financial highlights are included in reliance upon the report of such firm given upon their authority as experts in accounting and auditing. The selection of the fund's independent registered public accounting firm is reviewed and determined annually by the board of trustees.
Independent legal counsel - Morgan, Lewis & Bockius LLP, One Federal Street, Boston, MA 02110-1726, serves as independent legal counsel ("counsel") for the fund and for independent trustees in their capacities as such. A determination with respect to the independence of the fund's counsel will be made at least annually by the independent trustees of the fund, as prescribed by applicable 1940 Act rules.
Registration statements, reports to shareholders and proxy statements - The fund's fiscal year ends on October 31. Shareholders are provided an updated registration statement annually and at least semi-annually with reports showing the fund's expenses, key statistics, holdings information and investment results (annual report only). Shareholders may request a copy of the fund's current registration statement at no cost by calling (800) 421-4225. The fund's annual financial statements are audited by the fund's independent registered public accounting firm, PwC. In addition, shareholders may also receive proxy statements for the fund. In an effort to reduce the volume of mail shareholders receive from the fund when a household owns more than one account, the Transfer Agent has taken steps to eliminate duplicate mailings of the registration statements, shareholder reports and proxy
Capital Group Central Cash Fund - Page 38
statements. To receive additional copies of the registration statement, report or proxy statement, shareholders should contact the Transfer Agent.
Shareholders may also elect to receive the updated registration statement, annual reports and semi-annual reports electronically by signing up for electronic delivery on our website, capitalgroup.com/cmqxx. Shareholders who elect to receive documents electronically will receive such documents in electronic form and will not receive documents in paper form by mail. A shareholder who elects electronic delivery is able to cancel this service at any time and return to receiving the updated registration statement and other reports in paper form by mail.
The registration statement, annual reports and semi-annual reports that are mailed to shareholders by the Capital Group organization are printed with ink containing soy and/or vegetable oil on paper containing recycled fibers.
Codes of ethics - The fund and Capital Research and Management Company and its affiliated companies, including the fund's distributor, have adopted codes of ethics that allow for personal investments, including securities in which the fund may invest from time to time. These codes include a ban on acquisitions of securities pursuant to an initial public offering; restrictions on acquisitions of private placement securities; preclearance and reporting requirements; review of duplicate confirmation statements; annual recertification of compliance with codes of ethics; blackout periods on personal investing for certain investment personnel; ban on short-term trading profits for investment personnel; limitations on service as a director of publicly traded companies; disclosure of personal securities transactions; and policies regarding political contributions.
Other information - The fund reserves the right to modify the privileges described in this Part B of the fund's registration statement at any time.
The fund's financial statements, including the investment portfolio and the report of the fund's independent registered public accounting firm, are included in this Part B of the fund's registration statement.
Capital Group Central Cash Fund - Page 39
Investment portfolio October 31, 2025
|
Short-term securities 93.40% |
Weighted average yield at acquisition |
Principal amount (000) |
Value (000) |
|
|
U.S. Treasury bills 42.37% |
||||
|
U.S. Treasury 11/4/2025 |
3.779 % |
USD1,184,400 |
$1,184,276 |
|
|
U.S. Treasury 11/6/2025 |
4.099 |
3,445,550 |
3,444,466 |
|
|
U.S. Treasury 11/12/2025 |
3.737 |
2,265,000 |
2,262,838 |
|
|
U.S. Treasury 11/13/2025 |
4.066 |
1,864,000 |
1,862,009 |
|
|
U.S. Treasury 11/18/2025 |
3.854 |
3,870,000 |
3,863,780 |
|
|
U.S. Treasury 11/20/2025 |
4.110 |
2,594,000 |
2,589,259 |
|
|
U.S. Treasury 11/25/2025 |
3.977 |
582,400 |
581,023 |
|
|
U.S. Treasury 11/28/2025 |
2.337 |
3,602,500 |
3,592,850 |
|
|
U.S. Treasury 12/2/2025 |
3.791 |
1,245,000 |
1,241,134 |
|
|
U.S. Treasury 12/4/2025 |
4.078 |
2,140,000 |
2,132,887 |
|
|
U.S. Treasury 12/9/2025 |
3.827 |
3,730,000 |
3,715,623 |
|
|
U.S. Treasury 12/11/2025 |
3.952 |
2,393,450 |
2,383,673 |
|
|
U.S. Treasury 12/16/2025 |
3.746 |
1,722,000 |
1,714,098 |
|
|
U.S. Treasury 12/18/2025 |
4.052 |
1,986,300 |
1,976,707 |
|
|
U.S. Treasury 12/23/2025 |
3.799 |
1,577,200 |
1,568,716 |
|
|
U.S. Treasury 12/26/2025 |
3.893 |
950,000 |
944,545 |
|
|
U.S. Treasury 12/30/2025 |
3.571 |
200,000 |
198,782 |
|
|
U.S. Treasury 1/6/2026 |
3.834 |
2,900,300 |
2,880,727 |
|
|
U.S. Treasury 1/8/2026 |
3.809 |
957,100 |
950,480 |
|
|
U.S. Treasury 1/13/2026 |
3.756 |
2,065,000 |
2,049,899 |
|
|
U.S. Treasury 1/15/2026 |
3.796 |
1,239,100 |
1,229,649 |
|
|
U.S. Treasury 1/20/2026 |
3.747 |
1,649,200 |
1,635,954 |
|
|
U.S. Treasury 1/22/2026 |
3.725 |
900,000 |
892,497 |
|
|
U.S. Treasury 1/27/2026 |
3.643 |
825,000 |
817,690 |
|
|
U.S. Treasury 1/29/2026 |
3.642 |
1,535,000 |
1,521,182 |
|
|
U.S. Treasury 2/10/2026 |
3.828 |
450,000 |
445,357 |
|
|
U.S. Treasury 2/17/2026 |
3.723 |
1,247,500 |
1,233,724 |
|
|
U.S. Treasury 2/24/2026 |
3.738 |
1,320,600 |
1,305,013 |
|
|
U.S. Treasury 3/3/2026 |
3.610 |
562,500 |
555,504 |
|
|
U.S. Treasury 4/23/2026 |
3.649 |
1,605,000 |
1,576,811 |
|
|
U.S. Treasury 4/30/2026 |
3.584 |
525,000 |
515,415 |
|
|
52,866,568 |
||||
|
Federal agency bills & notes 39.25% |
||||
|
Discount bills & notes 32.80% |
||||
|
Fannie Mae 11/3/2025 |
4.112 |
315,000 |
315,000 |
|
|
Fannie Mae 11/4/2025 |
4.150 |
250,000 |
249,974 |
|
|
Fannie Mae 11/7/2025 |
4.110 |
150,000 |
149,938 |
|
|
Fannie Mae 12/1/2025 |
4.033 |
400,000 |
398,858 |
|
|
Fannie Mae 12/2/2025 |
3.892 |
675,000 |
673,004 |
|
|
Fannie Mae 12/5/2025 |
3.910 |
375,000 |
373,777 |
|
|
Fannie Mae 1/20/2026 |
3.730 |
100,000 |
99,193 |
|
|
Federal Farm Credit Banks 11/7/2025 |
4.250 |
20,000 |
19,992 |
|
|
Federal Farm Credit Banks 11/10/2025 |
4.030 |
50,000 |
49,964 |
|
|
Federal Farm Credit Banks 11/12/2025 |
4.020 |
35,000 |
34,967 |
|
|
Federal Farm Credit Banks 11/24/2025 |
3.990 |
25,000 |
24,944 |
|
|
Federal Farm Credit Banks 11/25/2025 |
3.917 |
100,000 |
99,767 |
|
|
Federal Farm Credit Banks 12/4/2025 |
3.920 |
69,000 |
68,779 |
|
|
Federal Farm Credit Banks 12/23/2025 |
3.900 |
110,000 |
109,419 |
|
|
Federal Home Loan Bank 11/3/2025 |
4.110 |
1,105,700 |
1,105,700 |
|
|
Federal Home Loan Bank 11/5/2025 |
4.033 |
424,206 |
424,118 |
|
|
Federal Home Loan Bank 11/6/2025 |
4.178 |
1,060,000 |
1,059,669 |
|
|
Federal Home Loan Bank 11/7/2025 |
4.088 |
828,433 |
828,088 |
|
|
Federal Home Loan Bank 11/10/2025 |
4.135 |
347,600 |
347,347 |
|
|
Federal Home Loan Bank 11/12/2025 |
4.120 |
1,566,270 |
1,564,794 |
|
|
Federal Home Loan Bank 11/14/2025 |
4.094 |
1,923,075 |
1,920,860 |
|
|
Federal Home Loan Bank 11/17/2025 |
0.000 |
1,392,000 |
1,389,948 |
|
|
Federal Home Loan Bank 11/19/2025 |
4.124 |
536,000 |
535,097 |
|
|
Federal Home Loan Bank 11/21/2025 |
4.124 |
768,700 |
767,236 |
|
|
Capital Group Central Cash Fund |
1 |
|
Short-term securities (continued) |
Weighted average yield at acquisition |
Principal amount (000) |
Value (000) |
|
|
Federal agency bills & notes (continued) |
||||
|
Discount bills & notes (continued) |
||||
|
Federal Home Loan Bank 11/24/2025 |
0.000 % |
USD550,000 |
$548,778 |
|
|
Federal Home Loan Bank 11/25/2025 |
4.070 |
40,000 |
39,907 |
|
|
Federal Home Loan Bank 11/26/2025 |
4.082 |
260,000 |
259,382 |
|
|
Federal Home Loan Bank 11/28/2025 |
4.077 |
1,341,300 |
1,337,835 |
|
|
Federal Home Loan Bank 12/1/2025 |
4.072 |
1,150,000 |
1,146,673 |
|
|
Federal Home Loan Bank 12/2/2025 |
4.001 |
342,934 |
341,906 |
|
|
Federal Home Loan Bank 12/3/2025 |
4.053 |
1,272,250 |
1,268,306 |
|
|
Federal Home Loan Bank 12/5/2025 |
3.973 |
1,530,891 |
1,525,828 |
|
|
Federal Home Loan Bank 12/8/2025 |
2.080 |
675,000 |
672,545 |
|
|
Federal Home Loan Bank 12/9/2025 |
4.084 |
802,600 |
799,598 |
|
|
Federal Home Loan Bank 12/10/2025 |
3.957 |
689,292 |
686,642 |
|
|
Federal Home Loan Bank 12/11/2025 |
3.935 |
300,000 |
298,809 |
|
|
Federal Home Loan Bank 12/12/2025 |
3.941 |
685,950 |
683,156 |
|
|
Federal Home Loan Bank 12/16/2025 |
3.751 |
100,000 |
99,548 |
|
|
Federal Home Loan Bank 12/17/2025 |
3.943 |
1,123,000 |
1,117,811 |
|
|
Federal Home Loan Bank 12/18/2025 |
3.897 |
775,000 |
771,338 |
|
|
Federal Home Loan Bank 12/19/2025 |
3.895 |
62,000 |
61,701 |
|
|
Federal Home Loan Bank 12/22/2025 |
3.816 |
726,500 |
722,742 |
|
|
Federal Home Loan Bank 12/24/2025 |
3.891 |
504,150 |
501,436 |
|
|
Federal Home Loan Bank 12/26/2025 |
3.888 |
313,400 |
311,637 |
|
|
Federal Home Loan Bank 12/29/2025 |
3.855 |
601,400 |
597,826 |
|
|
Federal Home Loan Bank 12/30/2025 |
3.865 |
150,000 |
149,093 |
|
|
Federal Home Loan Bank 1/2/2026 |
3.936 |
524,000 |
520,699 |
|
|
Federal Home Loan Bank 1/5/2026 |
3.843 |
325,000 |
322,852 |
|
|
Federal Home Loan Bank 1/7/2026 |
3.850 |
120,000 |
119,182 |
|
|
Federal Home Loan Bank 1/9/2026 |
3.842 |
1,629,250 |
1,617,799 |
|
|
Federal Home Loan Bank 1/12/2026 |
3.820 |
450,000 |
446,699 |
|
|
Federal Home Loan Bank 1/13/2026 |
3.830 |
100,000 |
99,256 |
|
|
Federal Home Loan Bank 1/14/2026 |
3.833 |
515,000 |
511,115 |
|
|
Federal Home Loan Bank 1/16/2026 |
3.832 |
564,645 |
560,271 |
|
|
Federal Home Loan Bank 1/20/2026 |
3.825 |
180,000 |
178,532 |
|
|
Federal Home Loan Bank 1/21/2026 |
3.808 |
240,000 |
238,017 |
|
|
Federal Home Loan Bank 1/23/2026 |
3.812 |
883,350 |
875,868 |
|
|
Federal Home Loan Bank 1/26/2026 |
3.750 |
175,000 |
173,465 |
|
|
Federal Home Loan Bank 1/28/2026 |
3.758 |
425,000 |
421,182 |
|
|
Federal Home Loan Bank 1/30/2026 |
3.796 |
2,052,050 |
2,033,212 |
|
|
Federal Home Loan Bank 2/2/2026 |
3.925 |
150,000 |
148,576 |
|
|
Federal Home Loan Bank 2/4/2026 |
3.815 |
110,000 |
108,881 |
|
|
Federal Home Loan Bank 2/6/2026 |
3.796 |
575,752 |
570,050 |
|
|
Federal Home Loan Bank 2/11/2026 |
3.701 |
350,000 |
346,354 |
|
|
Federal Home Loan Bank 2/20/2026 |
3.745 |
159,000 |
157,197 |
|
|
Federal Home Loan Bank 2/25/2026 |
3.768 |
115,000 |
113,637 |
|
|
Federal Home Loan Bank 2/27/2026 |
3.790 |
100,000 |
98,747 |
|
|
Federal Home Loan Bank 3/30/2026 |
3.710 |
150,000 |
147,687 |
|
|
Federal Home Loan Bank 5/1/2026 |
3.718 |
140,000 |
137,367 |
|
|
Federal Home Loan Mortgage Corp. 11/3/2025 |
4.162 |
300,000 |
300,000 |
|
|
Federal Home Loan Mortgage Corp. 11/4/2025 |
4.119 |
225,000 |
224,977 |
|
|
Federal Home Loan Mortgage Corp. 11/5/2025 |
4.110 |
290,000 |
289,940 |
|
|
Federal Home Loan Mortgage Corp. 11/7/2025 |
4.125 |
450,000 |
449,812 |
|
|
Federal Home Loan Mortgage Corp. 11/10/2025 |
4.125 |
637,000 |
636,535 |
|
|
Federal Home Loan Mortgage Corp. 11/14/2025 |
4.130 |
100,000 |
99,885 |
|
|
Federal Home Loan Mortgage Corp. 11/17/2025 |
4.037 |
190,000 |
189,720 |
|
|
Federal Home Loan Mortgage Corp. 11/24/2025 |
4.085 |
100,000 |
99,778 |
|
|
Federal Home Loan Mortgage Corp. 12/3/2025 |
4.026 |
48,243 |
48,093 |
|
|
Federal Home Loan Mortgage Corp. 12/5/2025 |
4.081 |
93,844 |
93,534 |
|
|
Federal Home Loan Mortgage Corp. 12/8/2025 |
4.060 |
628,950 |
626,663 |
|
|
Federal Home Loan Mortgage Corp. 12/10/2025 |
4.060 |
137,900 |
137,370 |
|
|
Federal Home Loan Mortgage Corp. 12/12/2025 |
3.897 |
65,988 |
65,719 |
|
|
Federal Home Loan Mortgage Corp. 1/5/2026 |
3.881 |
691,900 |
687,328 |
|
|
Federal Home Loan Mortgage Corp. 1/6/2026 |
3.733 |
80,000 |
79,463 |
|
|
Federal Home Loan Mortgage Corp. 1/7/2026 |
3.810 |
150,000 |
148,977 |
|
|
Federal Home Loan Mortgage Corp. 1/26/2026 |
3.757 |
75,000 |
74,342 |
|
|
Tennessee Valley Authority 11/5/2025 |
4.018 |
164,500 |
164,466 |
|
|
40,916,177 |
||||
|
2 |
Capital Group Central Cash Fund |
|
Short-term securities (continued) |
Coupon rate |
Principal amount (000) |
Value (000) |
|
|
Interest bearing bills & notes 6.45% |
||||
|
Federal Farm Credit Bank (USD-SOFR + 0.02%) 4/30/2026 (a) |
4.060 % |
USD50,000 |
$50,039 |
|
|
Federal Farm Credit Banks (USD-SOFR + 0%) 7/28/2026 (a) |
4.070 |
75,000 |
75,060 |
|
|
Federal Home Loan Bank (USD-SOFR + 0%) 12/11/2025 (a) |
4.040 |
150,000 |
150,043 |
|
|
Federal Home Loan Bank (USD-SOFR + 0%) 12/17/2025 (a) |
4.040 |
187,500 |
187,563 |
|
|
Federal Home Loan Bank (USD-SOFR + 0%) 1/9/2026 (a) |
4.040 |
325,000 |
325,163 |
|
|
Federal Home Loan Bank (USD-SOFR + 0%) 1/9/2026 (a) |
4.045 |
450,000 |
450,230 |
|
|
Federal Home Loan Bank (USD-SOFR + 0%) 1/12/2026 (a) |
4.040 |
325,000 |
325,172 |
|
|
Federal Home Loan Bank (USD-SOFR + 0%) 2/11/2026 (a) |
4.045 |
230,000 |
230,013 |
|
|
Federal Home Loan Bank (USD-SOFR + 0%) 2/18/2026 (a) |
4.050 |
225,000 |
225,026 |
|
|
Federal Home Loan Bank (USD-SOFR + 0%) 3/17/2026 (a) |
4.050 |
400,000 |
400,134 |
|
|
Federal Home Loan Bank (USD-SOFR + 0%) 3/20/2026 (a) |
4.040 |
90,000 |
90,039 |
|
|
Federal Home Loan Bank (USD-SOFR + 0%) 3/30/2026 (a) |
4.055 |
120,000 |
120,058 |
|
|
Federal Home Loan Bank (USD-SOFR + 0%) 4/13/2026 (a) |
4.040 |
25,000 |
25,015 |
|
|
Federal Home Loan Bank (USD-SOFR + 0%) 4/17/2026 (a) |
4.040 |
150,000 |
150,101 |
|
|
Federal Home Loan Bank (USD-SOFR + 0.005%) 11/12/2025 (a) |
4.045 |
150,000 |
150,010 |
|
|
Federal Home Loan Bank (USD-SOFR + 0.005%) 4/20/2026 (a) |
4.045 |
90,000 |
90,059 |
|
|
Federal Home Loan Bank (USD-SOFR + 0.005%) 5/18/2026 (a) |
4.045 |
170,000 |
170,037 |
|
|
Federal Home Loan Bank (USD-SOFR + 0.005%) 5/21/2026 (a) |
4.045 |
240,000 |
240,046 |
|
|
Federal Home Loan Bank (USD-SOFR + 0.01%) 5/7/2026 (a) |
4.050 |
100,000 |
100,010 |
|
|
Federal Home Loan Bank (USD-SOFR + 0.01%) 5/20/2026 (a) |
4.050 |
135,000 |
135,028 |
|
|
Federal Home Loan Bank (USD-SOFR + 0.015%) 4/21/2026 (a) |
4.055 |
378,000 |
378,251 |
|
|
Federal Home Loan Bank (USD-SOFR + 0.015%) 7/17/2026 (a) |
4.055 |
80,000 |
80,054 |
|
|
Federal Home Loan Bank (USD-SOFR + 0.015%) 7/21/2026 (a) |
4.055 |
240,000 |
240,166 |
|
|
Federal Home Loan Bank (USD-SOFR + 0.02%) 4/30/2026 (a) |
4.060 |
200,000 |
200,155 |
|
|
Federal Home Loan Bank (USD-SOFR + 0.02%) 5/22/2026 (a) |
4.060 |
150,000 |
150,036 |
|
|
Federal Home Loan Bank (USD-SOFR + 0.02%) 5/26/2026 (a) |
4.060 |
275,000 |
275,071 |
|
|
Federal Home Loan Bank (USD-SOFR + 0.025%) 6/22/2026 (a) |
4.065 |
140,000 |
140,062 |
|
|
Federal Home Loan Bank (USD-SOFR + 0.03%) 2/5/2026 (a) |
4.070 |
150,000 |
150,012 |
|
|
Federal Home Loan Bank (USD-SOFR + 0.05%) 12/11/2025 (a) |
4.045 |
350,000 |
350,102 |
|
|
Federal Home Loan Bank (USD-SOFR + 0.50%) 2/2/2026 (a) |
4.275 |
225,000 |
225,165 |
|
|
Federal Home Loan Bank (USD-SOFR + 0.50%) 2/3/2026 (a) |
4.275 |
225,000 |
225,167 |
|
|
Federal Home Loan Bank (USD-SOFR + 1.00%) 11/24/2025 (a) |
4.050 |
375,000 |
375,059 |
|
|
Federal Home Loan Bank (USD-SOFR + 1.00%) 11/28/2025 (a) |
4.050 |
225,000 |
225,042 |
|
|
Federal Home Loan Bank (USD-SOFR + 1.00%) 2/11/2026 (a) |
4.050 |
200,000 |
200,014 |
|
|
Federal Home Loan Bank (USD-SOFR + 1.00%) 2/25/2026 (a) |
4.050 |
187,500 |
187,540 |
|
|
Federal Home Loan Bank (USD-SOFR + 1.50%) 1/2/2026 (a) |
4.055 |
150,000 |
150,070 |
|
|
Federal Home Loan Bank (USD-SOFR + 2.00%) 4/29/2026 (a) |
4.060 |
225,000 |
225,173 |
|
|
Federal Home Loan Bank (USD-SOFR + 2.50%) 6/2/2026 (a) |
4.065 |
112,500 |
112,532 |
|
|
Federal Home Loan Bank (USD-SOFR + 3.00%) 2/26/2026 (a) |
4.070 |
190,000 |
190,045 |
|
|
Federal Home Loan Bank (USD-SOFR + 4.19%) 4/17/2026 (a) |
4.040 |
280,000 |
280,005 |
|
|
8,048,567 |
||||
|
Total federal agency bills & notes |
48,964,744 |
|||
|
Repurchase agreements 11.78% |
||||
|
Overnight repurchase agreements* |
14,700,000 |
14,700,000 |
||
|
Total short-term securities (cost: $116,496,215,000) |
116,531,312 |
|||
|
Bonds, notes & other debt instruments 7.11% |
||||
|
U.S. Treasury bonds & notes 7.11% |
||||
|
U.S. Treasury (3-month U.S. Treasury Bill Yield + 0.245%) 4.011% 1/31/2026 (a) |
1,575,000 |
1,575,350 |
||
|
U.S. Treasury (3-month U.S. Treasury Bill Yield + 0.15%) 3.916% 4/30/2026 (a) |
1,401,300 |
1,401,103 |
||
|
U.S. Treasury (3-month U.S. Treasury Bill Yield + 0.182%) 3.948% 7/31/2026 (a) |
1,682,000 |
1,682,031 |
||
|
U.S. Treasury (3-month U.S. Treasury Bill Yield + 0.205%) 3.971% 10/31/2026 (a) |
1,785,000 |
1,785,456 |
||
|
Capital Group Central Cash Fund |
3 |
|
Bonds, notes & other debt instruments (continued) |
Principal amount (000) |
Value (000) |
||
|
U.S. Treasury bonds & notes (continued) |
||||
|
U.S. Treasury (3-month U.S. Treasury Bill Yield + 0.098%) 3.864% 1/31/2027 (a) |
USD1,460,000 |
$1,458,510 |
||
|
U.S. Treasury (3-month U.S. Treasury Bill Yield + 0.16%) 3.926% 4/30/2027 (a) |
538,000 |
537,807 |
||
|
U.S. Treasury (3-month U.S. Treasury Bill Yield + 0.159%) 3.925% 7/31/2027 (a) |
429,100 |
429,099 |
||
|
Total bonds, notes & other debt instruments (cost: $8,872,446,000) |
8,869,356 |
|||
|
Total investment securities 100.51% (cost: $125,368,661,000) |
125,400,668 |
|||
|
Other assets less liabilities (0.51)% |
(637,993 ) |
|||
|
Net assets 100.00% |
$124,762,675 |
|||
*Repurchase agreements  
|
Counterparty |
Lending rate |
Settlement date |
Maturity date |
Collateralized by |
Collateral
received,
at value (000) |
Repurchase
agreement,
at value (000) |
Repurchase
agreement
proceeds
to be
received (000) |
|
Bank of Montreal |
4.12 % |
10/31/2025 |
11/3/2025 |
U.S. Treasury 0%-6.00% 2025-2026 |
$153,000 |
$150,000 |
$150,052 |
|
BNP Paribas |
4.11 |
10/31/2025 |
11/3/2025 |
U.S. Treasury 0%-6.125% 2026-2035 |
1,326,000 |
1,300,000 |
1,300,445 |
|
BofA Securities |
4.14 |
10/31/2025 |
11/3/2025 |
U.S. Treasury 1.875%-4.625% 2026-2035 |
1,071,000 |
1,050,000 |
1,050,362 |
|
Canadian Imperial Bank of Commerce |
4.11 |
10/31/2025 |
11/3/2025 |
U.S. Treasury 0%-4.625% 2025-2035 |
1,377,000 |
1,350,000 |
1,350,462 |
|
JPMorgan Securities |
4.14 |
10/31/2025 |
11/3/2025 |
U.S. Treasury 0.375% 2027 |
1,938,000 |
1,900,000 |
1,900,656 |
|
Mizuho Securities |
4.15 |
10/31/2025 |
11/3/2025 |
U.S. Treasury 1.25%-6.25% 2026-2032 |
1,122,000 |
1,100,000 |
1,100,380 |
|
New York Federal Reserve |
3.75 |
10/31/2025 |
11/3/2025 |
U.S. Treasury 1.625% 2031 |
750,234 |
750,000 |
750,234 |
|
RBC Dominion Securities |
4.12 |
10/31/2025 |
11/3/2025 |
U.S. Treasury 0%-4.625% 2025-2033 |
2,040,000 |
2,000,000 |
2,000,687 |
|
Royal Bank of Canada |
4.11 |
10/31/2025 |
11/3/2025 |
U.S. Treasury 0.50%-2.375% 2027-2028 |
153,000 |
150,000 |
150,051 |
|
Societe Generale Bank |
4.13 |
10/31/2025 |
11/3/2025 |
U.S. Treasury 0.375%-4.875% 2025-2035 |
2,346,000 |
2,300,000 |
2,300,792 |
|
TD Securities |
4.12 |
10/31/2025 |
11/3/2025 |
U.S. Treasury 3.875%-4.25% 2026-2031 |
408,000 |
400,000 |
400,137 |
|
Wells Fargo Bank |
4.14 |
10/31/2025 |
11/3/2025 |
U.S. Treasury 3.50%-4.25% 2026-2032 |
1,377,000 |
1,350,000 |
900,311 |
|
Wells Fargo Securities |
4.14 |
10/31/2025 |
11/3/2025 |
U.S. Treasury 0.375%-6.75% 2026-2032 |
918,000 |
900,000 |
1,350,466 |
|
$14,979,234 |
$14,700,000 |
$14,705,035 |
|
(a) |
Coupon rate may change periodically. Reference rate and spread are as of the most recent information available. |
|
Key to abbreviation(s) |
|
SOFR = Secured Overnight Financing Rate |
|
USD = U.S. dollars |
Refer to the notes to financial statements.
|
4 |
Capital Group Central Cash Fund |
Financial statements
Statement of assets and liabilities at October 31, 2025
(dollars in thousands) 
|
Assets: |
||
|
Investment securities in unaffiliated issuers, at value (cost: $125,368,661) |
$125,400,668 |
|
|
Cash |
514,782 |
|
|
Receivables for: |
||
|
Sales of fund's shares |
$1,838,554 |
|
|
Interest |
36,426 |
1,874,980 |
|
127,790,430 |
||
|
Liabilities: |
||
|
Payables for: |
||
|
Purchases of investments |
754,284 |
|
|
Repurchases of fund's shares |
2,270,805 |
|
|
Dividends on fund's shares |
2,211 |
|
|
Trustees' deferred compensation |
385 |
|
|
Other |
70 |
3,027,755 |
|
Net assets at October 31, 2025 |
$124,762,675 |
|
|
Net assets consist of: |
||
|
Capital paid in on shares of beneficial interest |
$124,730,634 |
|
|
Total distributable earnings (accumulated loss) |
32,041 |
|
|
Net assets at October 31, 2025 |
$124,762,675 |
(dollars and shares in thousands, except per-share amounts)
Shares of beneficial interest issued and outstanding (no stated par value) -
unlimited shares authorized (1,247,425 total shares outstanding) 
|
Net assets |
Shares outstanding |
Net asset value per share |
|
|
Class M |
$124,762,675 |
1,247,425 |
$100.02 |
Refer to the notes to financial statements.
|
Capital Group Central Cash Fund |
5 |
Financial statements (continued)
Statement of operations for the year ended October 31, 2025
(dollars in thousands) 
|
Investment income: |
||
|
Income: |
||
|
Interest |
$5,324,990 |
|
|
Fees and expenses: |
||
|
Reports to shareholders |
$7 |
|
|
Registration statement and prospectus |
419 |
|
|
Trustees' compensation |
177 |
|
|
Auditing and legal |
75 |
|
|
Custodian |
689 |
|
|
Other |
14 |
1,381 |
|
Net investment income |
5,323,609 |
|
|
Net realized gain (loss) and unrealized appreciation (depreciation): |
||
|
Net realized gain (loss) on investments |
880 |
|
|
Net unrealized appreciation (depreciation) on investments |
23,231 |
|
|
Net realized gain (loss) and unrealized appreciation (depreciation): |
24,111 |
|
|
Net increase (decrease) in net assets resulting from operations |
$5,347,720 |
Statements of changes in net assets
(dollars in thousands) 
|
Year ended October 31, |
||
|
2025 |
2024 |
|
|
Operations: |
||
|
Net investment income |
$5,323,609 |
$7,225,569 |
|
Net realized gain (loss) |
880 |
- |
|
Net unrealized appreciation (depreciation) |
23,231 |
13,250 |
|
Net increase (decrease) in net assets resulting from operations |
5,347,720 |
7,238,819 |
|
Distributions paid or accrued to shareholders |
(5,323,187 ) |
(7,231,970 ) |
|
Net capital share transactions |
10,237,850 |
(30,503,424 ) |
|
Total increase (decrease) in net assets |
10,262,383 |
(30,496,575 ) |
|
Net assets: |
||
|
Beginning of year |
114,500,292 |
144,996,867 |
|
End of year |
$124,762,675 |
$114,500,292 |
Refer to the notes to financial statements.
|
Capital Group Central Cash Fund |
6 |
Notes to financial statements
1. Organization
Capital Group Central Fund Series (the "trust") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end, diversified management investment company and has initially issued one series of shares, Capital Group Central Cash Fund (the "fund"). The fund seeks to provide income on cash reserves while preserving capital and maintaining liquidity.
The fund manages cash balances for Capital Group and other funds, investment vehicles and accounts advised by Capital Group affiliates, and is not available to the public. The fund is a government money market fund with a floating net asset value.
2. Significant accounting policies
The fund is an investment company that applies the accounting and reporting guidance issued in Topic 946 by the U.S. Financial Accounting Standards Board ("FASB"). The fund's financial statements have been prepared to comply with U.S. generally accepted accounting principles ("U.S. GAAP"). These principles require the fund's investment adviser to make estimates and assumptions that affect reported amounts and disclosures. Actual results could differ from those estimates. Subsequent events, if any, have been evaluated through the date of issuance in the preparation of the financial statements. The fund follows the significant accounting policies described in this section, as well as the valuation policies described in the next section on valuation.
Operating segments - The fund represents a single operating segment as the operating results of the fund are monitored as a whole and its long-term asset allocation is determined in accordance with the terms of its prospectus, based on defined investment objectives that are executed by the fund's portfolio management team. A senior executive team comprised of the fund's Principal Executive Officer and Principal Financial Officer, serves as the fund's chief operating decision maker ("CODM"), who act in accordance with Board of Trustees reviews and approvals. The CODM uses financial information, such as changes in net assets from operations, changes in net assets from fund share transactions, and income and expense ratios, consistent with that presented within the accompanying financial statements and financial highlights to assess the fund's profits and losses and to make resource allocation decisions. Segment assets are reflected in the statement of assets and liabilities as net assets, which consists primarily of investment securities, at value, and significant segment expenses are listed in the accompanying statement of operations.
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. 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.
Distributions paid or accrued to shareholders - Income dividends are declared daily after the determination of the fund's net investment income and are paid to shareholders monthly.
New accounting pronouncements - In December 2023, the FASB issued Accounting Standards Update 2023-09 ("the ASU"), Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which enhances income tax disclosures, including disclosure of income taxes paid disaggregated by jurisdiction. The ASU is effective for annual periods beginning after December 15, 2024, with early adoption permitted. Management is currently evaluating the ASU and its impact to the financial statements.
3. Valuation
Capital Research and Management Company ("CRMC"), the fund's investment adviser, values the fund's investments at fair value as defined by U.S. GAAP. The net asset value per share is calculated once daily as of the close of regular trading on the New York Stock Exchange, normally 4 p.m. New York time, each day the New York Stock Exchange is open. The fund's net asset value will vary as a result of changes in the value of the securities in which the fund invests.
Methods and inputs - The fund's investment adviser uses the following methods and inputs to establish the fair value of the fund's assets and liabilities. Use of particular methods and inputs may vary over time based on availability and relevance as market and economic conditions evolve.
|
Capital Group Central Cash Fund |
7 |
Fixed income securities are generally valued at evaluated prices obtained from third-party pricing vendors. Vendors value such securities based on one or more inputs that may include, among other things, benchmark yields, transactions, bids, offers, quotations from dealers and trading systems, new issues, underlying equity of the issuer, interest rate volatilities, 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, prepayment information, default rates, delinquency and loss assumptions, financial or collateral characteristics or performance, credit enhancements, liquidation value calculations, specific deal information and other reference data. However, certain short-term securities, such as repurchase agreements and daily variable rate notes, are generally valued at par.
Securities and other assets for which representative market quotations are not readily available or are considered unreliable by the fund's investment adviser are fair valued as determined in good faith under fair valuation guidelines adopted by the fund's investment adviser and approved by the board of trustees as further described. The investment adviser follows fair valuation guidelines, consistent with SEC rules and guidance, to consider relevant principles and factors when making fair value determinations. The investment adviser considers relevant indications of value that are reasonably and timely available to it in determining the fair value to be assigned to a particular security, such as the type and cost of the security, contractual or legal restrictions on resale of the security, relevant financial or business developments of the issuer, actively traded similar or related securities, dealer or broker quotes, conversion or exchange rights on the security, related corporate actions, significant events occurring after the close of trading in the security, and changes in overall market conditions. In addition, the closing prices of equity securities that trade in markets outside U.S. time zones may be adjusted to reflect significant events that occur after the close of local trading but before the net asset value of each share class of the fund is determined. Fair valuations of investments that are not actively trading involve judgment and may differ materially from valuations that would have been used had greater market activity occurred.
Processes and structure - The fund's board of trustees has designated the fund's investment adviser to make fair value determinations, subject to board oversight. The investment adviser has established a Joint Fair Valuation Committee (the "Committee") to administer, implement and oversee the fair valuation process and to make fair value decisions. The Committee regularly reviews its own fair value decisions, as well as decisions made under its standing instructions to the investment adviser's valuation team. The Committee reviews changes in fair value measurements from period to period, pricing vendor information and market data, and may, as deemed appropriate, update the fair valuation guidelines to better reflect the results of back testing and address new or evolving issues. Pricing decisions, processes and controls over security valuation are also subject to additional internal reviews facilitated by the investment adviser's global risk management group. The Committee reports changes to the fair valuation guidelines to the board of trustees. The fund's board and audit committee also regularly review reports that describe fair value determinations and methods.
Classifications - The fund's investment adviser classifies the fund's assets and liabilities into three levels based on the inputs used to value the assets or liabilities. Level 1 values are based on quoted prices in active markets for identical securities. Level 2 values are based on significant observable market inputs, such as quoted prices for similar securities and quoted prices in inactive markets. Certain securities trading outside the U.S. may transfer between Level 1 and Level 2 due to valuation adjustments resulting from significant market movements following the close of local trading. Level 3 values are based on significant unobservable inputs that reflect the investment adviser's determination of assumptions that market participants might reasonably use in valuing the securities. The valuation levels are not necessarily an indication of the risk or liquidity associated with the underlying investment. For example, U.S. government securities are reflected as Level 2 because the inputs used to determine fair value may not always be quoted prices in an active market. As of October 31, 2025, all of the fund's investment securities were classified as Level 2.
4. Risk factors
Investing in the fund may involve certain risks including, but not limited to, those described below.
Market conditions - The prices of, and the income generated by, the securities held by the fund may decline - sometimes rapidly or unpredictably - due to various factors, including events or conditions affecting the general economy or particular industries or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; levels of public debt and deficits; changes in inflation rates; and interest rate and commodity price fluctuations.
|
Capital Group Central Cash Fund |
8 |
Economies and financial markets throughout the world are highly interconnected. Economic, financial or political events, trading and tariff arrangements, wars, terrorism, cybersecurity events, natural disasters, public health emergencies (such as the spread of infectious disease), bank failures and other circumstances in one country or region, including actions taken by governmental or quasi-governmental authorities in response to any of the foregoing, could have impacts on global economies or markets. As a result, whether or not the fund invests in securities of issuers located in or with significant exposure to the countries affected, the value and liquidity of the fund's investments may be negatively affected by developments in other countries and regions.
Investing in securities backed by the U.S. government - U.S. government securities are subject to market risk, interest rate risk and credit risk. Securities backed by the U.S. Treasury or the full faith and credit of the U.S. government are guaranteed only as to the timely payment of interest and principal when held to maturity. Accordingly, the current market values for these securities will fluctuate with changes in interest rates and the credit rating of the U.S. government. Notwithstanding that these securities are backed by the full faith and credit of the U.S. government, circumstances could arise that would prevent or delay the payment of interest or principal on these securities, which could adversely affect their value and cause the fund to suffer losses. Such an event could lead to significant disruptions in U.S. and global markets. Securities issued by U.S. government-sponsored entities and federal agencies and instrumentalities that are not backed by the full faith and credit of the U.S. government are neither issued nor guaranteed by the U.S. government.
Interest rate risk - The values and liquidity of the securities held by the fund may be affected by changing interest rates. For example, the values of these securities may decline when interest rates rise and increase when interest rates fall. Longer maturity debt securities generally have greater sensitivity to changes in interest rates and may be subject to greater price fluctuations than shorter maturity debt securities. The fund may invest in variable and floating rate securities. When the fund holds variable or floating rate securities, a decrease in market interest rates will adversely affect the income received from such securities and the net asset value of the fund's shares. Although the values of such securities are generally less sensitive to interest rate changes than those of other debt securities, the value of variable and floating rate securities may decline if their interest rates do not rise as quickly, or as much, as market interest rates. Conversely, floating rate securities will not generally increase in value if interest rates decline. During periods of extremely low short-term interest rates, the fund may not be able to maintain a positive yield or total return and, in relatively low interest rate environments, there are heightened risks associated with rising interest rates.
Investing in repurchase agreements - Upon entering into a repurchase agreement, the fund purchases a security from a bank or broker-dealer, which simultaneously commits to repurchase the security within a specified time at the fund's cost with interest. The security purchased by the fund constitutes collateral for the seller's repurchase obligation. If the party agreeing to repurchase should default, the fund may seek to sell the security it holds as collateral. The fund may incur a loss if the value of the collateral securing the repurchase obligation falls below the repurchase price. The fund may also incur disposition costs and encounter procedural delays in connection with liquidating the collateral.
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, including models, tools and data, employed by the investment adviser in this process may be flawed or incorrect and may not produce the desired results.
5. Certain investment techniques
Repurchase agreements - The fund has entered into repurchase agreements, under which the fund purchases a security from a bank or broker-dealer and obtains a simultaneous commitment from the seller to repurchase the security at a specified time and price. Because the security purchased by the fund constitutes collateral for the seller's repurchase obligation, a repurchase agreement may be considered a loan by the fund that is collateralized by the security purchased. The fund will only enter into repurchase agreements involving securities of the type (excluding any maturity limitations) in which it could otherwise invest that are held at a custodian bank and are fully collateralized by cash or U.S. government securities.
|
Capital Group Central Cash Fund |
9 |
6. Taxation and distributions
Federal income taxation - The fund complies with the requirements under Subchapter M of the Internal Revenue Code applicable to regulated investment companies 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 year ended October 31, 2025, 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 year, the fund did not incur any significant interest or penalties.
The fund's tax returns are generally not subject to examination by federal, state and, if applicable, non-U.S. tax authorities after the expiration of each jurisdiction's statute of limitations, which is typically three years after the date of filing but can be extended in certain jurisdictions.
Non-U.S. taxation - Interest income is recorded net of non-U.S. taxes paid. The fund may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. These reclaims are recorded when the amount is known and there are no significant uncertainties on collectability. Gains realized by the fund on the sale of securities in certain countries, if any, may be subject to non-U.S. taxes. The fund generally records an estimated deferred tax liability based on unrealized gains to provide for potential non-U.S. taxes payable upon the sale of these securities.
Distributions - Distributions determined on a tax basis may differ from net investment income and net realized gains for financial reporting purposes. These differences are due primarily to different treatment for items such as short-term capital gains and losses; deferred expenses and net capital losses. The fiscal year in which amounts are distributed may differ from the year in which the net investment income and net realized gains are recorded by the fund for financial reporting purposes.
As of October 31, 2025, the tax basis components of distributable earnings, unrealized appreciation (depreciation) and cost of investments were as follows (dollars in thousands): 
|
Undistributed ordinary income |
$2,680 |
|
Capital loss carryforward* |
(49 ) |
|
Gross unrealized appreciation on investments |
35,443 |
|
Gross unrealized depreciation on investments |
(3,436 ) |
|
Net unrealized appreciation (depreciation) on investments |
32,007 |
|
Cost of investments |
125,368,661 |
*
The capital loss carryforward will be used to offset any capital gains realized by the fund in future years. The fund will not make distributions from capital gains while a capital loss carryforward remains.
Tax-basis distributions paid or accrued to shareholders from ordinary income were as follows (dollars in thousands):  
|
Year ended October 31, |
||
|
Share class |
2025 |
2024 |
|
Class M |
$5,323,187 |
$7,231,970 |
|
Capital Group Central Cash Fund |
10 |
7. Fees and transactions with related parties
CRMC, the fund's investment adviser, is the parent company of Capital Client Group, Inc. ("CCG"), the distributor of the fund's shares, and American Funds Service Company® ("AFS"), the fund's transfer agent. CRMC, CCG and AFS are considered related parties to the fund.
Transfer agent services - The fund has a shareholder services agreement with AFS under which the fund compensates AFS for providing transfer agent services to the fund. These services include recordkeeping and transaction processing.
Trustees' deferred compensation - Trustees who are unaffiliated with CRMC may elect to defer the cash payment of part or all of their compensation. These deferred amounts, which remain as liabilities of the fund, are treated as if invested in shares of the fund. These amounts represent general, unsecured liabilities of the fund and vary according to the total returns of the fund. Trustees' compensation of $177,000 in the fund's statement of operations reflects $161,000 in current fees (either paid in cash or deferred) and a net increase of $16,000 in the value of the deferred amounts.
Affiliated officers and trustees - Officers and certain trustees of the fund are or may be considered to be affiliated with CRMC, CCG and AFS. No affiliated officers or trustees received any compensation directly from the fund.
Security transactions with related funds - The fund may purchase investment securities from, or sell investment securities to, other funds managed by CRMC (or funds managed by certain affiliates of CRMC) under procedures adopted by the fund's board of trustees. The funds involved in such transactions are considered related by virtue of having a common investment adviser (or affiliated investment advisers), common trustees and/or common officers. When such transactions occur, each transaction is executed at the current market price of the security and no brokerage commissions or fees are paid in accordance with Rule 17a-7 of the 1940 Act. During the year ended October 31, 2025, the fund did not engage in any such purchase or sale transactions with any related funds.
Interfund lending - Pursuant to an exemptive order issued by the SEC, the fund, along with other CRMC-managed funds (or funds managed by certain affiliates of CRMC), may participate in an interfund lending program. The program provides an alternate credit facility that permits the funds to lend or borrow cash for temporary purposes directly to or from one another, subject to the conditions of the exemptive order. The fund lent $10,000 at a rate of 4.710% to one or more CRMC-managed funds during the year ended October 31, 2025. The fund received less than $1,000 in interest income from the loan.
8. Indemnifications
The fund's organizational documents provide board members and officers with indemnification against certain liabilities or expenses in connection with the performance of their duties to the fund. In the normal course of business, the fund may also enter into contracts that provide general indemnifications. The fund's maximum exposure under these arrangements is unknown since it is dependent on future claims that may be made against the fund. The risk of material loss from such claims is considered remote. Insurance policies are also available to the fund's board members and officers.
9. Capital share transactions
Capital share transactions in the fund were as follows (dollars and shares in thousands): 
|
Sales |
Reinvestments of distributions |
Repurchases |
Net increase (decrease) |
|||||
|
Share class |
Amount |
Shares |
Amount |
Shares |
Amount |
Shares |
Amount |
Shares |
|
Year ended October 31, 2025 |
||||||||
|
Class M |
$490,707,409 |
4,906,968 |
$5,296,316 |
52,960 |
$(485,765,875 ) |
(4,857,459 ) |
$10,237,850 |
102,469 |
|
Year ended October 31, 2024 |
||||||||
|
Class M |
$396,210,750 |
3,961,883 |
$7,186,005 |
71,859 |
$(433,900,179 ) |
(4,338,752 ) |
$(30,503,424 ) |
(305,010 ) |
10. Ownership concentration
At October 31, 2025, one shareholder held more than 10% of the fund's outstanding shares. The shareholder, American Balanced Fund, held aggregate ownership of 12% of the fund's outstanding shares. CRMC is the investment adviser to American Balanced Fund.
|
Capital Group Central Cash Fund |
11 |
Financial highlights
|
Income (loss) from investment operations1 |
||||||||||
|
Year ended |
Net asset
value,
beginning of year |
Net
investment income (loss) |
Net gains
(losses) on
securities
(both
realized and unrealized) |
Total from
investment operations |
Dividends
(from net
investment income) |
Net asset
value,
end of year |
Total return |
Net assets,
end of year (in millions) |
Ratio of
expenses
to average net assets |
Ratio of
net income (loss)
to average net assets |
|
Class M: |
||||||||||
|
10/31/2025 |
$100.00 |
$4.36 |
$.02 |
$4.38 |
$(4.36 ) |
$100.02 |
4.46 % |
$124,763 |
- %2 |
4.36 % |
|
10/31/2024 |
100.00 |
5.35 |
- |
5.35 |
(5.35 ) |
100.00 |
5.48 |
114,500 |
- 2 |
5.35 |
|
10/31/2023 |
99.98 |
4.82 |
.05 |
4.87 |
(4.85 ) |
100.00 |
4.98 |
144,997 |
- 2 |
4.82 |
|
10/31/2022 |
100.00 |
1.21 |
(.21 ) |
1.00 |
(1.02 ) |
99.98 |
1.01 |
184,777 |
- 2 |
1.21 |
|
10/31/2021 |
100.01 |
.08 |
(.01 ) |
.07 |
(.08 ) |
100.00 |
.06 |
112,467 |
- 2 |
.08 |
|
1 |
Based on average shares outstanding. |
|
2 |
Amount less than .01%. |
Refer to the notes to financial statements.
|
Capital Group Central Cash Fund |
12 |
Report of Independent Registered Public Accounting Firm
To the Board of Trustees of Capital Group Central Fund Series and Shareholders of Capital Group Central Cash Fund
Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the investment portfolio, of Capital Group Central Cash Fund (the "Fund") as of October 31, 2025, the related statement of operations for the year ended October 31, 2025, the statements of changes in net assets for each of the two years in the period ended October 31, 2025, including the related notes, and the financial highlights for each of the five years in the period ended October 31, 2025 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of October 31, 2025, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended October 31, 2025 and the financial highlights for each of the five years in the period ended October 31, 2025 in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the relevant ethical requirements relating to our audit, which include standards of the American Institute of Certified Public Accountants (AICPA) Code of Professional Conduct, as well as U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission.
We conducted our audits of these financial statements in accordance with the auditing standards of the PCAOB and in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2025 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.
/s/ PricewaterhouseCoopers LLP
Los Angeles, California
December 11, 2025
We have served as the auditor of one or more investment companies in The Capital Group group of investment companies since 1934.
|
Capital Group Central Cash Fund |
13 |
Capital Group Central Fund Series
Part C
Other Information
| Item 28. | Exhibits for Registration Statement (1940 Act No. 811-23391) |
| (a) | Articles of Incorporation - Certificate of Trust effective 1/19/18 and Agreement and Declaration of Trust dated 1/1/19 - previously filed (see Amendment No. 1 filed 2/22/19) |
| (b) | By-laws - By-laws - previously filed (see Amendment No. 1 filed 2/22/19) |
| (c) | Instruments Defining Rights of Security Holders - None |
| (d) | Investment Advisory Contracts - Investment Advisory and Service Agreement dated 5/1/18 - previously filed (see Amendment No. 1 filed 2/22/19) |
| (e) | Underwriting Contracts - Distribution Agreement dated 5/1/21 - previously filed (see Amendment No 4 filed 1/31/22) |
| (f) | Bonus or Profit Sharing Contracts - Deferred Compensation Plan effective 1/1/26 |
| (g) | Custodian Agreements - Global Custody Agreement - previously filed (see Amendment No. 1 filed 2/22/19) |
| (h-1) | Other Material Contracts - Shareholder Services Agreement dated 1/1/23 - previously filed (see Amendment No. 5 filed 1/31/23) |
| (h-2) | Form of Indemnification Agreement |
| (i) | Not applicable |
| (j) | Not applicable |
(k) Not applicable
| (l) | Initial capital agreements - Initial capital agreements - previously filed (see Amendment No. 1 filed 2/22/19) |
| (m) | Not applicable |
| (n) | Not applicable |
(o) Reserved
| (p) | Code of Ethics - Code of Ethics for The Capital Group Companies dated May 2025 and Code of Ethics for Registrant |
| Item 29. | Persons Controlled by or Under Common Control with the Fund |
None
| Item 30. | Indemnification |
The Registrant is a joint-insured under Investment Adviser/Mutual Fund Errors and Omissions Policies, which insure its officers and trustees against certain liabilities. However, in no event will Registrant maintain insurance to indemnify any such person for any act for which Registrant itself is not permitted to indemnify the individual.
Article 8 of the Registrant's Declaration of Trust as well as the indemnification agreements that the Registrant has entered into with each of its trustees who is not an "interested person" of the Registrant (as defined under the Investment Company Act of 1940, as amended), provide in effect that the Registrant will indemnify its officers and trustees against any liability or expenses actually and reasonably incurred by such person in any proceeding arising out of or in connection with his or her service to the Registrant, to the fullest extent permitted by applicable law, subject to certain conditions. In accordance with Section 17(h) and 17(i) of the Investment Company Act of 1940, as amended, and their respective terms, these provisions do not protect any person against any liability to the Registrant or its shareholders to which such person would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence, or reckless disregard of the duties involved in the conduct of his or her office.
Insofar as indemnification for liability arising under the Securities Act of 1933 may be permitted to trustees, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the U.S. Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a trustee, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such trustee, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.
Registrant will comply with the indemnification requirements contained in the Investment Company Act of 1940, as amended, and Release Nos. 7221 (June 9, 1972) and 11330 (September 4, 1980).
| Item 31. | Business and Other Connections of the Investment Adviser |
None
| Item 32. | Principal Underwriters |
(a) Capital Client Group, Inc. is the Principal Underwriter of shares of: AMCAP Fund, American Balanced Fund, American Funds College Target Date Series, American Funds Core Plus Bond Fund, American Funds Corporate Bond Fund, American Funds Developing World Growth and Income Fund, American Funds Emerging Markets Bond Fund, American Funds Fundamental Investors, American Funds Global Balanced Fund, American Funds Global Insight Fund, The American Funds Income Series, American Funds Inflation Linked Bond Fund, American Funds International Vantage Fund, American Funds Mortgage Fund, American Funds Multi-Sector Income Fund, American Funds Portfolio Series, American Funds Retirement Income Portfolio Series, American Funds Short-Term Tax-Exempt Bond Fund, American Funds Strategic Bond Fund, American Funds Target Date Retirement Series, American Funds Tax-Exempt Fund of New York, The American Funds Tax-Exempt Series II, American Funds U.S. Government Money Market Fund, American Funds U.S. Small and Mid Cap Equity Fund, American High-Income Municipal Bond Fund, American High-Income Trust, American Mutual Fund, The Bond Fund of America, Capital Group Completion Fund Series, Capital Group Conservative Equity ETF, Capital Group Core Balanced ETF, Capital Group Core Equity ETF, Capital Group Dividend Growers ETF, Capital Group Dividend Value ETF, Capital Group Equity ETF Trust I, Capital Group Fixed Income ETF Trust, Capital Group Global Equity ETF, Capital Group Global Growth Equity ETF, Capital Group Growth ETF, Capital Group International Core Equity ETF, Capital Group International Equity ETF, Capital Group International Focus Equity ETF, Capital Group KKR Core Plus+, Capital Group KKR Multi-Sector+, Capital Group New Geography Equity ETF, Capital Group Private Client Services Funds, Capital Group U.S. Equity Fund, Capital Income Builder, Capital World Bond Fund, Capital World Growth and Income Fund, Emerging Markets Equities Fund, Inc., EUPAC Fund, The Growth Fund of America, The Income Fund of America, Intermediate Bond Fund of America, International Growth and Income Fund, The Investment Company of America, Limited Term Tax-Exempt Bond Fund of America, The New Economy Fund, New Perspective Fund, New World Fund, Inc., Short-Term Bond Fund of America, SMALLCAP World Fund, Inc., The Tax-Exempt Bond Fund of America and Washington Mutual Investors Fund
(b)
|
(1) Name and Principal Business Address |
(2) Positions and Offices with Underwriter |
(3) Positions and Offices with Registrant |
|
| LAO | Katherine Abbott | Vice President | None |
| CHO |
Chatelaine Achterberg |
Assistant Vice President | None |
| LAO | Alex J. Adair | Regional Vice President | None |
| LAO | Samuel Adams | Regional Vice President | None |
| LAO | Anuj K. Agarwal | Vice President | None |
| LAO | Albert Aguilar, Jr. | Director, Vice President and Chief Compliance Officer | None |
| SNO | David A. Ajluni | Regional Vice President | None |
| LAO | C. Thomas Akin II | Senior Vice President | None |
| LAO | Anthony Albano | Regional Vice President | None |
| LAO | Mark G. Alteri | Regional Vice President | None |
| LAO | Jeremy Alyea | Regional Vice President | None |
| LAO | Colleen M. Ambrose | Vice President | None |
| LAO | Christopher S. Anast | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Blake J. Anderson | Assistant Vice President | None |
| LAO | Dion T. Angelopoulos | Assistant Vice President | None |
| CHO | Erik J. Applegate | Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Luis F. Arocha | Vice President | None |
| LAO | Keith D. Ashley | Regional Vice President | None |
| LAO | Julie A. Asher | Assistant Vice President | None |
| LAO | Curtis A. Baker | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | T. Patrick Bardsley | Senior Vice President | None |
| SNO | Mark C. Barile | Vice President | None |
| LAO | Shakeel A. Barkat | Senior Vice President | None |
| LAO | Antonio M. Bass | Senior Vice President | None |
| LAO | Andrew Z. Bates | Assistant Vice President | None |
| LAO | Katherine A. Beattie | Senior Vice President | None |
| LAO | Scott G. Beckerman | Senior Vice President | None |
| LAO | Jeb M. Bent | Senior Vice President | None |
| LAO | Matthew D. Benton | Senior Vice President | None |
| LAO | Jerry R. Berg | Senior Vice President | None |
| LAO | Joseph W. Best, Jr. | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Matthew F. Betley | Vice President | None |
| LAO | Roger J. Bianco, Jr. | Senior Vice President | None |
| LAO | Ryan M. Bickle | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Joseph Bilello | Regional Vice President | None |
| LAO | Jay A. Binstock | Assistant Vice President | None |
| LAO | Peter D. Bjork | Regional Vice President | None |
| DCO | Bryan K. Blankenship | Senior Vice President | None |
| LAO | Marek Blaskovic | Vice President | None |
| LAO | Matthew C. Bloemer | Regional Vice President | None |
| LAO | Erick K. Bodge | Regional Vice President | None |
| LAO | Gerard M. Bockstie, Jr. | Senior Vice President | None |
| LAO | Jon T. Boldt | Vice President | None |
| LAO | Ainsley J. Borel | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Jill M. Boudreau | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Andre W. Bouvier | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Jordan C. Bowers | Regional Vice President | None |
| LAO | David H. Bradin | Senior Vice President | None |
| LAO | William J. Brady | Regional Vice President | None |
| LAO | William P. Brady | Senior Vice President | None |
| LAO | Andrew A. Bredholt | Regional Vice President | None |
| LAO | William G. Bridge | Senior Vice President | None |
| LAO | Siobhan M. Broadbery | Regional Vice President | None |
| LAO | Lorena B. Brockman | Vice President | None |
| LAO | Kevin G. Broulette | Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | E. Chapman Brown, Jr. | Senior Vice President | None |
| LAO | Elizabeth S. Brownlow | Vice President | None |
| LAO | Gary D. Bryce | Senior Vice President | None |
| LAO | Christopher Bucci | Regional Vice President | None |
| NYO | Melissa Buccilli | Senior Vice President | None |
| SNO | Dylan J. Burdick | Regional Vice President | None |
| LAO | Kenneth D. Burdick | Assistant Vice President | None |
| LAO | Carmen A. Burke | Vice President | None |
| IND | Jennifer L. Butler | Assistant Vice President | None |
| LAO | Steven Calabria | Senior Vice President | None |
| LAO | Thomas E. Callahan | Senior Vice President | None |
| LAO | Kelly V. Campbell | Senior Vice President | None |
| LAO | Patrick C. Campbell III | Regional Vice President | None |
| LAO | Anthon S. Cannon III | Vice President | None |
| SNO | Antonio G. Capobianco | Regional Vice President | None |
| LAO | Kevin J. Carevic | Vice President | None |
| LAO | Jason S. Carlough | Senior Vice President | None |
| LAO | Kim R. Carney | Senior Vice President | None |
| LAO | Damian F. Carroll | Senior Vice President | None |
| LAO | David C. Carson, Jr. | Vice President | None |
| LAO | James D. Carter | Senior Vice President | None |
| LAO | Stephen L. Caruthers | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| SFO | James G. Carville | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Philip L. Casciano | Vice President | None |
| LAO | Christopher M. Cefalo | Senior Vice President | None |
| IND |
Alexzania N. Chambers |
Assistant Vice President | None |
| LAO | Kent W. Chan | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| SNO | Marcus L. Chaves | Assistant Vice President | None |
| LAO | Si J. Chen | Vice President | None |
| LAO | Daniel A. Chodosch | Senior Vice President | None |
| LAO | Peter J. Chong | Assistant Vice President | None |
| LAO | Cheryl L. Christian | Assistant Vice President | None |
| LAO | Andrew T. Christos | Vice President | None |
| LAO | Robert S. Chu | Assistant Vice President | None |
| LAO | Paul A. Cieslik | Senior Vice President | None |
| LAO | Andrew R. Claeson | Vice President | None |
| LAO | Michael J. Clark | Regional Vice President | None |
| LAO | Jamie A. Claypool | Senior Vice President | None |
| LAO | Kyle R. Coffey | Regional Vice President | None |
| LAO | Natalie S. Cole | Vice President | None |
| NYO | Jayme E. Colosimo | Vice President | None |
| IND | Timothy J. Colvin | Regional Vice President | None |
| LAO | Frances Coombes | Senior Vice President | None |
| IRV | Erin K. Concepcion | Assistant Vice President | None |
| SNO | Brandon J. Cone | Vice President | None |
| LAO | Christopher M. Conwell | Vice President | None |
| LAO | C. Jeffrey Cook | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Megan Costa | Senior Vice President | None |
| LAO | Joseph G. Cronin | Senior Vice President | None |
| LAO | D. Erick Crowdus | Senior Vice President | None |
| SNO | Zachary A. Cutkomp | Regional Vice President | None |
| LAO | Hanh M. Dao | Senior Vice President | None |
| LAO | Alex L. DaPron | Regional Vice President | None |
| LAO | William F. Daugherty | Senior Vice President | None |
| LAO | Alexandria B. Davis | Regional Vice President | None |
| SNO | Bradley C. Davis | Assistant Vice President | None |
| LAO | Scott T. Davis | Senior Vice President | None |
| LAO | Shehan N. De Silva | Assistant Vice President | None |
| LAO | Adam DeAngelis | Regional Vice President | None |
| LAO | Peter J. Deavan | Senior Vice President | None |
| LAO | Kristofer J. DeBonville | Regional Vice President | None |
| LAO | Guy E. Decker | Senior Vice President | None |
| LAO | Mark A. Dence | Senior Vice President | None |
| SNO | Brian M. Derrico | Vice President | None |
| LAO | Stephen Deschenes | Senior Vice President | None |
| LAO | James G. DiGiuseppe | Senior Vice President | None |
| LAO | Alexander J. Diorio | Vice President | None |
| LAO | Mario P. DiVito | Senior Vice President | None |
| LAO | Kevin F. Dolan | Senior Vice President | None |
| LAO | John H. Donovan IV | Vice President | None |
| LAO | Ronald Q. Dottin | Senior Vice President | None |
| LAO | Joseph B. Dowd | Vice President | None |
| LAO | John J. Doyle | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Ryan T. Doyle | Senior Vice President | None |
| LAO | Craig Duglin | Senior Vice President | None |
| LAO | Alan J. Dumas | Vice President | None |
| LAO | John E. Dwyer IV | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Christopher P. Dziubasik | Assistant Vice President | None |
| IND | Karyn B. Dzurisin | Senior Vice President | None |
| LAO | Kevin C. Easley | Senior Vice President | None |
| LAO | Shirley Ecklund | Senior Vice President | None |
| LAO | Damian Eckstein | Senior Vice President | None |
| LAO | Matthew J. Eisenhardt | Senior Vice President | None |
| IRV | Jessica Eng | Assistant Vice President | None |
| LAO | Joseph Epstein | Regional Vice President | None |
| LAO | Wayne C. Ewan | Vice President | None |
| LAO | Bryan R. Favilla | Senior Vice President | None |
| LAO | Joseph M. Fazio | Regional Vice President | None |
| LAO | Mark A. Ferraro | Senior Vice President | None |
| LAO | Christopher Fetchet | Regional Vice President | None |
| LAO | Brandon J. Fetta | Vice President | None |
| LAO | John P. Finneran III | Vice President | None |
| LAO | Layne M. Finnerty | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| SNO | Coenraad F. Fletcher | Vice President | None |
| LAO | Kevin H. Folks | Senior Vice President | None |
| IND | Kelly B. Fonderoli | Assistant Vice President | None |
| LAO | William E. Ford | Senior Vice President | None |
| IRV | Robert S. Forshee | Assistant Vice President | None |
| LAO | Mark D. Foster | Regional Vice President | None |
| LAO | Steven M. Fox | Vice President | None |
| LAO | Holly C. Framsted | Senior Vice President | None |
| LAO | Megan France | Regional Vice President | None |
| LAO | Rusty A. Frauhiger | Vice President | None |
| LAO | Vincent C. Fu | Assistant Vice President | None |
| LAO | Tyler L. Furek | Vice President | None |
| LAO | Myles Gaines | Regional Vice President | None |
| LAO | Jignesh D. Gandhi | Vice President | None |
| LAO | J. Gregory Garrett | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| SNO | Edward S. Garza | Vice President | None |
| LAO | Brian K. Geiger | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Leslie B. Geller | Senior Vice President | None |
| LAO | Jacob M. Gerber | Senior Vice President | None |
| LAO | Michele Giangrande | Vice President | None |
| LAO | Travis Gilberg | Vice President | None |
| LAO | Pamela A. Gillett | Senior Vice President | None |
| LAO | William F. Gilmartin | Senior Vice President | None |
| IND | Brenda L. Goeken | Assistant Vice President | None |
| LAO | Kathleen D. Golden | Vice President | None |
| NYO | Joshua H. Gordon | Vice President, Capital Group Institutional Investment Services Division | None |
| SNO | Craig B. Gray | Assistant Vice President | None |
| LAO | Robert E. Greeley, Jr. | Senior Vice President | None |
| LAO | Jameson R. Greenstone | Senior Vice President | None |
| LAO | Eric M. Grey | Senior Vice President | None |
| LAO | Karen M. Griffin | Vice President | None |
| LAO | E. Renee Grimm | Senior Vice President | None |
| LAO | Scott A. Grouten | Senior Vice President | None |
| SNO | John S. Gryniewicz | Regional Vice President | None |
| LAO | Sam S. Gumma | Vice President | None |
| LAO | Jan S. Gunderson | Senior Vice President | None |
| LAO | Ryan A. Gundrum | Assistant Vice President | None |
| SNO | Lori L. Guy | Vice President | None |
| LAO | Janna C. Hahn | Senior Vice President | None |
| LAO | Philip E. Haning | Senior Vice President | None |
| LAO | Katy L. Hanke | Senior Vice President | None |
| LAO | Brandon S. Hansen | Senior Vice President | None |
| LAO | Julie O. Hansen | Vice President | None |
| SNO | Nicholas Hargreaves | Assistant Vice President | None |
| LAO | John R. Harley | Senior Vice President | None |
| LAO | Calvin L. Harrelson III | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Craig W. Hartigan | Senior Vice President | None |
| LAO | Janis Harrison | Assistant Vice President | None |
| LAO | James Hayes | Regional Vice President | None |
| LAO | Jennifer Hayes | Regional Vice President | None |
| LAO | Alan M. Heaton | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Clifford W. "Webb" Heidinger | Senior Vice President | None |
| LAO | Brock A. Hillman | Senior Vice President | None |
| IND | Kristin S. Himsel | Senior Vice President | None |
| SNO | Emilia A. Holt | Assistant Vice President | None |
| LAO | Dennis L. Hooper | Regional Vice President | None |
| IND | Ryan D. Hoover | Regional Vice President | None |
| LAO | Jessica K. Hooyenga | Vice President | None |
| LAO | Scott W. Hoyer | Regional Vice President | None |
| LAO | David R. Hreha | Senior Vice President | None |
| LAO | Frederic J. Huber | Senior Vice President | None |
| LAO | Jeffrey K. Hunkins | Senior Vice President | None |
| LAO | Angelia G. Hunter | Senior Vice President | None |
| LAO | Christa M. Iacono | Vice President | None |
| LAO | Marc G. Ialeggio | Senior Vice President | None |
| LAO | Maurice E. Jadah | Regional Vice President | None |
| LAO | Asad K. Jamil | Regional Vice President | None |
| LAO | W. Chris Jenkins | Senior Vice President | None |
| LAO | Daniel J. Jess II | Senior Vice President | None |
| IND | Jameel S. Jiwani | Vice President | None |
| CHO | Allison S. Johnston | Assistant vice President | None |
| LAO | Brendan M. Jonland | Senior Vice President | None |
| LAO | Kathryn H. Jordan | Vice President | None |
| LAO | David G. Jordt | Senior Vice President | None |
| LAO | Michael Kamell | Senior Vice President | None |
| LAO | Eric J. Kamin | Regional Vice President | None |
| IND | Teodor P. Karnakov | Assistant Vice President | None |
| LAO | Wassan M. Kasey | Senior Vice President | None |
| IND | Joel A. Kaul | Assistant Vice President | None |
| LAO | John P. Keating | Senior Vice President | None |
| LAO | David B. Keib | Senior Vice President | None |
| LAO | Brian G. Kelly | Senior Vice President | None |
| LAO | Christopher J. Kennedy | Vice President | None |
| LAO | Jason A. Kerr | Senior Vice President | None |
| LAO | Ryan C. Kidwell | Senior Vice President | None |
| LAO | Charles A. King | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| IND | Eric M. Kirkman | Vice President | None |
| LAO | Kelsei Q. Kirland | Vice President | None |
| IND | Morgann B. Klaus | Assistant Vice President | None |
| LAO | Stephen J. Knutson | Assistant Vice President | None |
| LAO | Michael J. Koch | Vice President | None |
| IND | Philip A. Kojich | Assistant Vice President | None |
| LAO | Christina Kramer | Regional Vice President | None |
| LAO | James M. Kreider | Vice President | None |
| LAO | Jacob A. Kuchta | Regional Vice President | None |
| SNO | David D. Kuncho | Vice President | None |
| NYO | Joseph Lai | Senior Vice President | None |
| LAO | Jialing Lang | Assistant Vice President | None |
| LAO | Richard M. Lang | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| SNO | Theodore J. Larsen | Assistant Vice President | None |
| LAO | Andrew P. Laskowski | Senior Vice President | None |
| LAO | Armand Leaks | Vice President | None |
| LAO | Matthew N. Leeper | Senior Vice President | None |
| LAO | Victor J. LeMay | Regional Vice President | None |
| SNO | Matthew T. Levene | Assistant Vice President | None |
| LAO | Clay M. Leveritt | Senior Vice President | None |
| LAO | Emily R. Liao | Senior Vice President | None |
| LAO | Lauren C. Liebes | Regional Vice President | None |
| LAO | Chris H. Lin | Assistant Vice President | None |
| IND | Justin L. Linder | Vice President | None |
| LAO | Louis K. Linquata | Senior Vice President | None |
| LAO | Damien X. Lona | Regional Vice President | None |
| LAO | Rainey Lord | Vice President | None |
| LAO | Omar J. Love | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| SNO | Adam C. Lozano | Assistant Vice President | None |
| LAO | Dillon W. Lull | Regional Vice President | None |
| LAO | Reid A. Luna | Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Joe P. Lynch | Regional Vice President | None |
| CHO | Karin A. Lystad | Assistant Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Brandon Y. Ma | Regional Vice President | None |
| LAO | Justin Maddox | Regional Vice President | None |
| NYO | Catherine M. Magyera | Vice President | None |
| LAO | James M. Maher | Senior Vice President | None |
| LAO | Nathan G. Mains | Senior Vice President | None |
| LAO | Jeffrey N. Malbasa | Senior Vice President | None |
| LAO | Usma A. Malik | Senior Vice President | None |
| LAO | Chantal M. Manseau Guerdat | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Arran M. Maran | Regional Vice President | None |
| LAO | Seema Manek | Vice President | None |
| LAO | Brooke M. Marrujo | Senior Vice President | None |
| CHO | James M. Mathenge | Vice President, Capital Group Institutional Investment Services Division | None |
| SNO | Duane R. Mattson | Assistant Vice President | None |
| LAO | Stephen B. May | Vice President | None |
| LAO | Barnabas T. Mbigha | Senior Vice President | None |
| LAO | Joseph A. McCreesh, III | Senior Vice President | None |
| LAO | Ross M. McDonald | Senior Vice President | None |
| LAO | Clinton S. McCurry | Regional Vice President | None |
| LAO | Jennifer L. McGrath | Regional Vice President | None |
| LAO | Timothy W. McHale | Secretary | None |
| SNO | Michael J. McLaughlin | Assistant Vice President | None |
| LAO | Max J. McQuiston | Senior Vice President | None |
| LAO | Curtis D. Mc Reynolds | Vice President | None |
| LAO | Marin B. Meaney | Regional Vice President | None |
| IND | Melissa M. Meade | Assistant Vice President | None |
| LAO | Paulino Medina | Vice President | None |
| LAO | Britney L. Melvin | Vice President | None |
| LAO | Davina J. Merrell | Regional Vice President | None |
| LAO | David A. Merrill | Assistant Vice President | None |
| SNO | Lauren A. Merriweather | Assistant Vice President | None |
| LAO | Conrad F. Metzger | Senior Vice President | None |
| LAO | Carl B. Meyer | Regional Vice President | None |
| LAO | Benjamin J. Miller | Vice President | None |
| LAO | Jennifer M. Miller | Vice President | None |
| LAO | Lauren D. Miller | Assistant Vice President | None |
| LAO | Tammy H. Miller | Vice President | None |
| LAO | William T. Mills | Senior Vice President | None |
| LAO | Sean C. Minor | Senior Vice President | None |
| LAO | Louis W. Minora | Vice President | None |
| LAO | James R. Mitchell III | Senior Vice President | None |
| LAO | Charles L. Mitsakos | Senior Vice President | None |
| IND | Eric E. Momcilovich | Assistant Vice President | None |
| SNO | Christopher Moore | Assistant Vice President | None |
| IND | Jonathan L. Moran | Regional Vice President | None |
| LAO | Rex Morgan | Vice President | None |
| LAO | Nathaniel Morris | Regional Vice President | None |
| LAO | David H. Morrison | Vice President | None |
| LAO | Andrew J. Moscardini | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Stanley Moy | Assistant Vice President | None |
| LAO | Joseph M. Mulcahy | Regional Vice President | None |
| LAOW | Ryan D. Murphy | Senior Vice President | None |
| NYO | Timothy J. Murphy | Senior Vice President | None |
| IND | Valynda J. Murray | Vice President | None |
| LAO | Zahid Nakhooda | Regional Vice President |
None |
| IND | Kristen L. Nelson | Regional Vice President | None |
| LAO | Jon C. Nicolazzo | Senior Vice President | None |
| LAO | Earnest M. Niemi | Senior Vice President | None |
| LAO | Matthew P. O'Connor | Director, Chairman and Chief Executive Officer; Senior Vice President, Capital Group Institutional Investment Services Division | None |
| IND | Jody L. O'Dell | Assistant Vice President | None |
| LAO | Jonathan H. O'Flynn | Senior Vice President | None |
| LAO | Bradley D. Olalde | Assistant Vice President | None |
| LAO | Arthur B. Oliver | Vice President | None |
| LAO | Peter A. Olsen | Senior Vice President | None |
| IND | Kevin G. Olson | Assistant Vice President | None |
| LAO | Thomas A. O'Neil | Senior Vice President | None |
| LAO | Cimber L. Nuessle | Assistant Vice President | None |
| LAO | Michael Orlando | Vice President | None |
| IRV | Paula A. Orologas | Vice President | None |
| LAO | Vincent A. Ortega | Vice President, Capital Group Institutional Investment Services Division | None |
| NYO | Gregory H. Ortman | Senior Vice President | None |
| LAO | Shawn M. O'Sullivan | Senior Vice President | None |
| IND | Lance T. Owens | Senior Vice President | None |
| LAO | Kristina E. Page | Vice President | None |
| LAO | Jeffrey C. Paguirigan | Senior Vice President | None |
| NYO | Christine M. Papa | Assistant Vice President | None |
| LAO | Rodney Dean Parker II | Senior Vice President | None |
| LAO | Ingrid S. Parl | Vice President | None |
| LAO | William D. Parsley | Regional Vice President | None |
| LAO | Timothy C. Patterson | Vice President | None |
| LAO | W. Burke Patterson, Jr. | Senior Vice President | None |
| SNO | Adam P. Peach | Vice President | None |
| LAO | Robert J. Peche | Senior Vice President | None |
| LAO | Elena M. Peerson | Regional Vice President | None |
| IRV | Grace L. Pelczynski | Assistant Vice President | None |
| LAO | Sejal U. Penkar | Vice President | None |
| LAO | Harry A. Phinney | Senior Vice President | None |
| LAO | Adam W. Phillips | Vice President | None |
| LAO | Joseph M. Piccolo | Senior Vice President | None |
| LAO | Sally L. Picota De Holte | Regional Vice President | None |
| LAO | Keith A. Piken | Senior Vice President and Director | None |
| LAO | Jonathan T. Plance | Regional Vice President | None |
| SFO | Eugene Podkaminer | Senior Vice President | None |
| LAO | David T. Polak | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Chloe E. Pollara | Vice President | None |
| LAO | Michael E. Pollgreen | Vice President | None |
| LAO | Charles R. Porcher | Senior Vice President | None |
| SNO | Robert B. Potter III | Assistant Vice President | None |
| LAO | Darrell W. Pounders | Vice President | None |
| LAO | Ryan T. Price | Regional Vice President | None |
| LAOW | Colyar W. Pridgen | Vice President | None |
| LAO | Michelle L. Pullen | Vice President | None |
| LAO | Victoria M. Quach | Vice President | None |
| LAO | Steven J. Quagrello | Senior Vice President | None |
| IND | Kelly S. Quick | Assistant Vice President | None |
| LAO | Michael R. Quinn | Senior Vice President | None |
| LAO | Sava S. Radakovich | Regional Vice President | None |
| LAO | Mary K. Radloff | Regional Vice President | None |
| LAO | Ryan E. Radtke | Senior Vice President | None |
| LAO | James R. Raker | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Rachel M. Ramos | Vice President | None |
| SNO | Eddie A. Rascon | Regional Vice President | None |
| LAO | Rene M. Reincke | Vice President, Treasurer and Director | None |
| LAO | Lesley P. Reinhart | Vice President | None |
| LAO |
Michael D. Reynaert |
Senior Vice President | None |
| LAO | Christopher J. Richardson | Senior Vice President | None |
| LAO | James Robelotto | Assistant Vice President | None |
| SNO | Stephanie A. Robichaud | Vice President | None |
| LAO | Jeffrey J. Robinson | Senior Vice President | None |
| LAO | Matthew M. Robinson | Senior Vice President | None |
| LAO | Jennifer R. Rocci | Regional Vice President | None |
| LAO | Rochelle C. Rodriguez | Senior Vice President | None |
| LAO | Melissa B. Roe | Senior Vice President | None |
| LAO | Thomas W. Rose | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Rome D. Rottura | Senior Vice President | None |
| IND | Jennah N. Ruddick | Assistant Vice President | None |
| LAO | Leah O. Ryan | Vice President | None |
| IND | Brenda S. Rynski | Regional Vice President | None |
| LAO | Richard A. Sabec, Jr. | Senior Vice President | None |
| SNO | Richard R. Salinas | Vice President | None |
| LAOW | Erica Salvay | Vice President | None |
| LAO | Benjamin F. Samuels | Assistant Vice President | None |
| LAO | Michael C. Santangelo | Regional Vice President | None |
| LAO | Paul V. Santoro | Senior Vice President | None |
| LAO | David E. Saunders II | Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Keith A. Saunders | Senior Vice President | None |
| LAO | Joe D. Scarpitti | Senior Vice President | None |
| IND | Broderic C. Schoen | Assistant Vice President | None |
| LAO | Jackson T. Schuette | Regional Vice President | None |
| LAO | Domenic A. Sciarra | Assistant Vice President | None |
| LAO | Keon F. Scott | Regional Vice President | None |
| LAO | Mark A. Seaman | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | James J. Sewell III | Senior Vice President | None |
| LAO | Arthur M. Sgroi | Senior Vice President | None |
| LAO | Erin C. Sheehan | Regional Vice President | None |
| LAO | Puja V. Sheth | Assistant Vice President | None |
| LAO | Kelly S. Simon | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAOW | Anmol Sinha | Senior Vice President | None |
| SNO | Julia M. Sisente | Assistant Vice President | None |
| LAO | Melissa A. Sloane | Senior Vice President | None |
| LAO | Jason C. Smith | Regional Vice President | None |
| LAO | Joshua J. Smith | Regional Vice President | None |
| LAO | Taylor D. Smith | Regional Vice President | None |
| LAO | Stephanie L. Smolka | Vice President | None |
| LAO | J. Eric Snively | Senior Vice President | None |
| LAO | John A. Sobotowski | Assistant Vice President | None |
| SNO | Chadwick R. Solano | Assistant Vice President | None |
| LAO | Charles V. Sosa | Vice President | None |
| LAO | Alexander T. Sotiriou | Vice President | None |
| LAO | Steven J. Sperry | Assistant Vice President | None |
| LAO | Margaret V. Steinbach | Senior Vice President | None |
| LAO | Michael P. Stern | Senior Vice President | None |
| LAO | Andrew J. Strandquist | Senior Vice President | None |
| LAO | Allison M. Straub | Vice President | None |
| LAO | Valerie B. Stringer | Vice President | None |
| LAO | Jamie J. Suh | Assistant Vice President | None |
| LAO | John R. Sulzicki | Vice President | None |
| LAO | Jack Swigle | Regional Vice President | None |
| LAO | Peter D. Thatch | Senior Vice President | None |
| LAO | John B. Thomas | Senior Vice President | None |
| LAO | Cynthia M. Thompson | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| SNO | Mark D. Thompson | Assistant Vice President | None |
| HRO | Stephen B. Thompson | Regional Vice President | None |
| LAO | Ryan D. Tiernan | Senior Vice President | None |
| LAO | Jordan A. Trevino | Senior Vice President | None |
| LAO | Michael J. Triessl | Director | None |
| LAO | Michael Trujillo | Vice President | None |
| CHO | Polina S. Tsybrovska | Assistant Vice President | None |
| LAO | Shaun C. Tucker | Senior Vice President | None |
| IRV | Sean M. Tupy | Vice President | None |
| SNO | Corey W. Tyson | Regional Vice President | None |
| IND | Ryan C. Tyson | Assistant Vice President | None |
| LAO | Jason A. Uberti | Vice President | None |
| LAO | David E. Unanue | Senior Vice President | None |
| LAO | John W. Urbanski | Regional Vice President | None |
| LAO | Veronica Vasquez | Vice President | None |
| LAO-W | Gerrit Veerman III | Senior Vice President, Capital Group Institutional Investment Services | None |
| LAO | Cynthia G. Velazquez | Assistant Vice President | None |
| LAO | Spilios Venetsanopoulos | Senior Vice President | None |
| LAO | J. David Viale | Senior Vice President | None |
| LAO | Austin J. Vierra | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Robert D. Vigneaux III | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Julie A. Vogel | Senior Vice President | None |
| IRV | Thu A. Vu | Assistant Vice President | None |
| LAO | Adam Waclawsky | Vice President | None |
| LAO | Jon N. Wainman | Vice President | None |
| LAO | Hudson Walker | Regional Vice President | None |
| ATO | Jason C. Wallace | Senior Vice President | None |
| LAO | Sherrie S. Walling | Vice President | None |
| LAO | Brian M. Walsh | Senior Vice President | None |
| LAO | Susan O. Walton | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Justin N. Wang | Regional Vice President | None |
| IND | Kristen M. Weaver | Vice President | None |
| LAO | Timothy S. Wei | Vice President | None |
| LAO | Sheraton Welch | Regional Vice President | None |
| SNO | Gordon S. Wells | Regional Vice President | None |
| LAO | George J. Wenzel | Senior Vice President | None |
| LAO | Jason M. Weybrecht | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Adam B. Whitehead | Senior Vice President | None |
| LAO | Gregory D. Williams II | Assistant Vice President | None |
| LAO | Ashley L. Wilson | Regional Vice President | None |
| LAO | Jonathan D. Wilson | Regional Vice President | None |
| LAO | Steven Wilson | Senior Vice President | None |
| LAO | Steven C. Wilson | Vice President | None |
| LAO | Anthony J. Wingate | Vice President | None |
| LAO | Benjamin Wirtshafter | Senior Vice President | None |
| LAO | Kimberly D. Wood | Senior Vice President, Capital Group Institutional Investment Services Division | None |
| IND | Benjamin T. Wooden | Regional Vice President | None |
| LAO | Jennifer N. Woodward | Assistant Vice President | None |
| IND | Matthew A. Wooten | Assistant Vice President | None |
| LAO | Elizabeth D. Yakes | Assistant Vice President | None |
| NYO | Mila I. Yankova | Senior Vice President | None |
| LAO | Jason P. Young | Senior Vice President | None |
| LAO | Jonathan A. Young | Senior Vice President | None |
| LAO | Lauren E. Zappia | Regional Vice President | None |
| LAO | Raul Zarco, Jr. | Vice President, Capital Group Institutional Investment Services Division | None |
| LAO | Heidi H. Zhang | Assistant Vice President | None |
| NYO | Tanya Zolotarevskiy | Vice President, Capital Group Institutional Investment Services Division | None |
__________
| HRO | Business Address, 5300 Robin Hood Road, Norfolk, VA 23513 |
| IND | Business Address, 12811 North Meridian Street, Carmel, IN 46032 |
| IRV | Business Address, 6455 Irvine Center Drive, Irvine, CA 92618 |
| LAO | Business Address, 333 South Hope Street, Los Angeles, CA 90071 |
| LAO-W | Business Address, 11100 Santa Monica Blvd., 18th Floor, Los Angeles, CA 90025 |
| NYO | Business Address, 399 Park Avenue, 34th Floor, New York, NY 10022 |
| SFO | Business Address, One Market Street, Suite 1800, San Francisco, CA 94105 |
| SNO | Business Address, 3500 Wiseman Boulevard, San Antonio, TX 78251 |
(c) None
| Item 33. | Location of Accounts and Records |
Accounts, books and other records required by Rules 31a-1 and 31a-2 under the Investment Company Act of 1940, as amended, are maintained and held in the offices of the Registrant's investment adviser, Capital Research and Management Company, 333 South Hope Street, Los Angeles, California 90071; 6455 Irvine Center Drive, Irvine, California 92618; and/or 5300 Robin Hood Road, Norfolk, Virginia 23513.
Registrant's records covering shareholder accounts are maintained and kept by its transfer agent, American Funds Service Company, 6455 Irvine Center Drive, Irvine, California 92618; 12811 North Meridian Street, Carmel, Indiana 46032; 3500 Wiseman Boulevard, San Antonio, Texas 78251; and 5300 Robin Hood Road, Norfolk, Virginia 23513.
Registrant's records covering portfolio transactions are maintained and kept by its custodian, JPMorgan Chase Bank, N.A., 270 Park Avenue, New York, New York 10017-2070.
| Item 34. | Management Services |
None
| Item 35. | Undertakings |
n/a
SIGNATURES
Pursuant to the requirements of the Investment Company Act of 1940, the Registrant has duly caused this Registration Statement to be signed on its behalf by the undersigned, duly authorized, in the City of Los Angeles, and State of California, on the 28th day of January, 2026.
CAPITAL GROUP CENTRAL FUND SERIES
By: /s/ Kristine M. Nishiyama
(Kristine M. Nishiyama, Principal Executive Officer)
This Registration Statement has been signed below on January 28, 2026, by the following persons in the capacities indicated.
| Signature | Title | ||
| (1) | Principal Executive Officer: | ||
|
/s/ Kristine M. Nishiyama |
Principal Executive Officer |
||
| (Kristine M. Nishiyama) | |||
| (2) | Principal Financial Officer and Principal Accounting Officer: | ||
|
/s/ Becky L. Park |
Treasurer |
||
| (Becky L. Park) | |||
| (3) | Trustees: | ||
| Gina F. Adams* | Trustee | ||
| Pramod Atluri* | Trustee | ||
| Francisco G. Cigarroa* | Trustee | ||
| Nariman Farvardin* | Trustee | ||
| Jennifer C. Feikin* | Trustee | ||
| Leslie Stone Heisz* | Trustee | ||
| Merit E. Janow* | Trustee | ||
| Martin E. Koehler* | Trustee | ||
| Benjamin R. Miller* | Trustee | ||
| Josette Sheeran* | Trustee | ||
| Margaret Spellings* | Trustee | ||
| Alexandra Trower* | Trustee | ||
| Paul S. Williams* | Chair of the Board (Independent and Non-Executive) | ||
| Courtney K. Wolf* | Trustee | ||
|
*By: /s/ Courtney R. Taylor |
|||
| (Courtney R. Taylor, pursuant to a power of attorney filed herewith) | |||
Counsel represents that this amendment does not contain disclosures that would make the amendment ineligible for effectiveness.
/s/ Charlene H. Kim
(Charlene H. Kim, Counsel)
POWER OF ATTORNEY
I, Gina F. Adams, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):
| - | American Balanced Fund (File No. 002-10758, File No. 811-00066) |
| - | American Funds Core Plus Bond Fund (File No. 333-286599, File No. 811-24077) |
| - | American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744) |
| - | American Funds Developing World Growth and Income Fund (File No. 333-190913, File No. 811-22881) |
| - | American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122) |
| - | American Funds Fundamental Investors (File No. 002-10760, File No. 811-00032) |
| - | The American Funds Income Series - U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318) |
| - | American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746) |
| - | American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449) |
| - | American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409) |
| - | American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750) |
| - | American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101) |
| - | American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448) |
| - | The American Funds Tax-Exempt Series II - The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694) |
| - | American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277) |
| - | American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576) |
| - | American High-Income Trust (File No. 033-17917, File No. 811-05364) |
| - | The Bond Fund of America (File No. 002-50700, File No. 811-02444) |
| - | Capital Group Central Fund Series - Capital Group Central Cash Fund (File No. 811-23391) |
| - | Capital Group Central Fund Series II - Capital Group Central Corporate Bond Fund (File No. 811-23633) |
| - | Capital Group Completion Fund Series (File No. 333-278929, File No. 811-23959) |
| - | Capital Group Core Balanced ETF (File No. 333-271211, File No. 811-23867) |
| - | Capital Group Dividend Value ETF (File No. 333-259023, File No. 811-23736) |
| - | Capital Group Fixed Income ETF Trust (File No. 333-259025, File No. 811-23738) |
| - | Capital Group International Core Equity ETF (File No. 333-276930, File No. 811-23935) |
| - | Capital Group International Focus Equity ETF (File No. 333-259022, File No. 811-23734) |
| - | Capital Group New Geography Equity ETF (File No. 333-276931, File No. 811-23936) |
| - | Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349) |
| - | Capital World Bond Fund (File No. 033-12447, File No. 811-05104) |
| - | EUPAC Fund (File No. 002-83847, File No. 811-03734) |
| - | EUPAC Fund |
| - | The Growth Fund of America (File No. 002-14728, File No. 811-00862) |
| - | The Income Fund of America (File No. 002-33371, File No. 811-01880) |
| - | Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446) |
| - | International Growth and Income Fund (File No. 333-152323, File No. 811-22215) |
| - | Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888) |
| - | New Perspective Fund (File No. 002-47749, File No. 811-02333) |
| - | New World Fund, Inc. (File No. 333-67455, File No. 811-09105) |
| - | American Funds New World Fund |
| - | Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928) |
| - | SMALLCAP World Fund, Inc. (File No. 033-32785, File No. 811-05888) |
| - | SMALLCAP World Fund |
| - | The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421) | |
| - | Washington Mutual Investors Fund (File No. 002-11051, File No. 811-00604) |
hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint
|
Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le |
Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom |
each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.
EXECUTED at Washington, DC, on January 1, 2026.
(City, State)
/s/ Gina F. Adams
Gina F. Adams, Board member
POWER OF ATTORNEY
I, Pramod Atluri, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):
| - | American Funds Core Plus Bond Fund (File No. 333-286599, File No. 811-24077) |
| - | American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744) |
| - | American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122) |
| - | The American Funds Income Series - U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318) |
| - | American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746) |
| - | American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449) |
| - | American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409) |
| - | American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750) |
| - | American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101) |
| - | American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448) |
| - | The American Funds Tax-Exempt Series II - The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694) |
| - | American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277) |
| - | American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576) |
| - | American High-Income Trust (File No. 033-17917, File No. 811-05364) |
| - | The Bond Fund of America (File No. 002-50700, File No. 811-02444) |
| - | Capital Group Central Fund Series - Capital Group Central Cash Fund (File No. 811-23391) |
| - | Capital Group Central Fund Series II - Capital Group Central Corporate Bond Fund (File No. 811-23633) |
| - | Capital Group Completion Fund Series (File No. 333-278929, File No. 811-23959) |
| - | Capital Group Fixed Income ETF Trust (File No. 333-259025, File No. 811-23738) |
| - | Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349) |
| - | Capital World Bond Fund (File No. 033-12447, File No. 811-05104) |
| - | Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446) |
| - | Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888) |
| - | Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928) |
| - | The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421) |
hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint
|
Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le |
Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom |
each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.
EXECUTED at Los Angeles, CA, on January 1, 2026.
(City, State)
/s/ Pramod Atluri
Pramod Atluri, Board member
POWER OF ATTORNEY
I, Francisco G. Cigarroa, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):
| - | American Funds College Target Date Series (File No. 333-180729, File No. 811-22692) |
| - | American Funds Core Plus Bond Fund (File No. 333-286599, File No. 811-24077) |
| - | American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744) |
| - | American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122) |
| - | The American Funds Income Series - U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318) |
| - | American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746) |
| - | American Funds Insurance Series (File No. 002-86838, File No. 811-03857) |
| - | American Funds Insurance Series |
| - | American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449) |
| - | American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409) |
| - | American Funds Portfolio Series (File No. 333-178936, File No. 811-22656) |
| - | American Funds Retirement Income Portfolio Series (File No. 333-203797, File No. 811-23053) |
| - | American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750) |
| - | American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101) |
| - | American Funds Target Date Retirement Series (File No. 333-138648, File No. 811-21981) |
| - | American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448) |
| - | The American Funds Tax-Exempt Series II - The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694) |
| - | American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277) |
| - | American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576) |
| - | American High-Income Trust (File No. 033-17917, File No. 811-05364) |
| - | The Bond Fund of America (File No. 002-50700, File No. 811-02444) |
| - | Capital Group Central Fund Series - Capital Group Central Cash Fund (File No. 811-23391) |
| - | Capital Group Central Fund Series II - Capital Group Central Corporate Bond Fund (File No. 811-23633) |
| - | Capital Group Completion Fund Series (File No. 333-278929, File No. 811-23959) |
| - | Capital Group Core Equity ETF (File No. 333-259021, File No. 811-23735) |
| - | Capital Group Fixed Income ETF Trust (File No. 333-259025, File No. 811-23738) |
| - | Capital Group Global Growth Equity ETF (File No. 333-259024, File No. 811-23737) |
| - | Capital Group Growth ETF (File No. 333-259020, File No. 811-23733) |
| - | Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349) |
| - | Capital World Bond Fund (File No. 033-12447, File No. 811-05104) |
| - | Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446) |
| - | Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888) |
| - | Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928) |
| - | The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421) |
hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint
|
Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le |
Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom |
each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.
EXECUTED at San Antonio, TX, on January 1, 2026.
(City, State)
/s/ Francisco G. Cigarroa
Francisco G. Cigarroa, Board member
POWER OF ATTORNEY
I, Nariman Farvardin, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):
| - | American Funds College Target Date Series (File No. 333-180729, File No. 811-22692) |
| - | American Funds Core Plus Bond Fund (File No. 333-286599, File No. 811-24077) |
| - | American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744) |
| - | American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122) |
| - | The American Funds Income Series - U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318) |
| - | American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746) |
| - | American Funds Insurance Series (File No. 002-86838, File No. 811-03857) |
| - | American Funds Insurance Series |
| - | American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449) |
| - | American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409) |
| - | American Funds Portfolio Series (File No. 333-178936, File No. 811-22656) |
| - | American Funds Retirement Income Portfolio Series (File No. 333-203797, File No. 811-23053) |
| - | American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750) |
| - | American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101) |
| - | American Funds Target Date Retirement Series (File No. 333-138648, File No. 811-21981) |
| - | American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448) |
| - | The American Funds Tax-Exempt Series II - The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694) |
| - | American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277) |
| - | American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576) |
| - | American High-Income Trust (File No. 033-17917, File No. 811-05364) |
| - | The Bond Fund of America (File No. 002-50700, File No. 811-02444) |
| - | Capital Group Central Fund Series - Capital Group Central Cash Fund (File No. 811-23391) |
| - | Capital Group Central Fund Series II - Capital Group Central Corporate Bond Fund (File No. 811-23633) |
| - | Capital Group Completion Fund Series (File No. 333-278929, File No. 811-23959) |
| - | Capital Group Core Equity ETF (File No. 333-259021, File No. 811-23735) |
| - | Capital Group Fixed Income ETF Trust (File No. 333-259025, File No. 811-23738) |
| - | Capital Group Global Growth Equity ETF (File No. 333-259024, File No. 811-23737) |
| - | Capital Group Growth ETF (File No. 333-259020, File No. 811-23733) |
| - | Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349) |
| - | Capital World Bond Fund (File No. 033-12447, File No. 811-05104) |
| - | Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446) |
| - | Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888) |
| - | Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928) |
| - | The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421) |
hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint
|
Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le |
Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom |
each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.
EXECUTED at Hoboken, NJ, on January 1, 2026.
(City, State)
/s/ Nariman Farvardin
Nariman Farvardin, Board member
POWER OF ATTORNEY
I, Jennifer C. Feikin, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):
| - | American Funds College Target Date Series (File No. 333-180729, File No. 811-22692) |
| - | American Funds Core Plus Bond Fund (File No. 333-286599, File No. 811-24077) |
| - | American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744) |
| - | American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122) |
| - | The American Funds Income Series - U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318) |
| - | American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746) |
| - | American Funds Insurance Series (File No. 002-86838, File No. 811-03857) |
| - | American Funds Insurance Series |
| - | American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449) |
| - | American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409) |
| - | American Funds Portfolio Series (File No. 333-178936, File No. 811-22656) |
| - | American Funds Retirement Income Portfolio Series (File No. 333-203797, File No. 811-23053) |
| - | American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750) |
| - | American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101) |
| - | American Funds Target Date Retirement Series (File No. 333-138648, File No. 811-21981) |
| - | American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448) |
| - | The American Funds Tax-Exempt Series II - The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694) |
| - | American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277) |
| - | American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576) |
| - | American High-Income Trust (File No. 033-17917, File No. 811-05364) |
| - | The Bond Fund of America (File No. 002-50700, File No. 811-02444) |
| - | Capital Group Central Fund Series - Capital Group Central Cash Fund (File No. 811-23391) |
| - | Capital Group Central Fund Series II - Capital Group Central Corporate Bond Fund (File No. 811-23633) |
| - | Capital Group Completion Fund Series (File No. 333-278929, File No. 811-23959) |
| - | Capital Group Core Equity ETF (File No. 333-259021, File No. 811-23735) |
| - | Capital Group Fixed Income ETF Trust (File No. 333-259025, File No. 811-23738) |
| - | Capital Group Global Growth Equity ETF (File No. 333-259024, File No. 811-23737) |
| - | Capital Group Growth ETF (File No. 333-259020, File No. 811-23733) |
| - | Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349) |
| - | Capital World Bond Fund (File No. 033-12447, File No. 811-05104) |
| - | Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446) |
| - | Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888) |
| - | Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928) |
| - | The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421) |
hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint
|
Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le |
Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom |
each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.
EXECUTED at Park City, Utah, on January 1, 2026.
(City, State)
/s/ Jennifer C. Feikin
Jennifer C. Feikin, Board member
POWER OF ATTORNEY
I, Leslie Stone Heisz, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):
| - | American Funds College Target Date Series (File No. 333-180729, File No. 811-22692) |
| - | American Funds Core Plus Bond Fund (File No. 333-286599, File No. 811-24077) |
| - | American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744) |
| - | American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122) |
| - | The American Funds Income Series - U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318) |
| - | American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746) |
| - | American Funds Insurance Series (File No. 002-86838, File No. 811-03857) |
| - | American Funds Insurance Series |
| - | American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449) |
| - | American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409) |
| - | American Funds Portfolio Series (File No. 333-178936, File No. 811-22656) |
| - | American Funds Retirement Income Portfolio Series (File No. 333-203797, File No. 811-23053) |
| - | American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750) |
| - | American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101) |
| - | American Funds Target Date Retirement Series (File No. 333-138648, File No. 811-21981) |
| - | American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448) |
| - | The American Funds Tax-Exempt Series II - The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694) |
| - | American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277) |
| - | American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576) |
| - | American High-Income Trust (File No. 033-17917, File No. 811-05364) |
| - | The Bond Fund of America (File No. 002-50700, File No. 811-02444) |
| - | Capital Group Central Fund Series - Capital Group Central Cash Fund (File No. 811-23391) |
| - | Capital Group Central Fund Series II - Capital Group Central Corporate Bond Fund (File No. 811-23633) |
| - | Capital Group Completion Fund Series (File No. 333-278929, File No. 811-23959) |
| - | Capital Group Core Equity ETF (File No. 333-259021, File No. 811-23735) |
| - | Capital Group Fixed Income ETF Trust (File No. 333-259025, File No. 811-23738) |
| - | Capital Group Global Growth Equity ETF (File No. 333-259024, File No. 811-23737) |
| - | Capital Group Growth ETF (File No. 333-259020, File No. 811-23733) |
| - | Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349) |
| - | Capital World Bond Fund (File No. 033-12447, File No. 811-05104) |
| - | Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446) |
| - | Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888) |
| - | Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928) |
| - | The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421) |
hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint
|
Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le |
Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom |
each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.
EXECUTED at Los Angeles, CA, on January 1, 2026.
(City, State)
/s/ Leslie Stone Heisz
Leslie Stone Heisz, Board member
POWER OF ATTORNEY
I, Merit E. Janow, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):
| - | AMCAP Fund (File No. 002-26516, File No. 811-01435) |
| - | American Funds Core Plus Bond Fund (File No. 333-286599, File No. 811-24077) |
| - | American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744) |
| - | American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122) |
| - | American Funds Global Balanced Fund (File No. 333-170605, File No. 811-22496) |
| - | American Funds Global Insight Fund (File No. 333-233375, File No. 811-23468) |
| - | The American Funds Income Series - U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318) |
| - | American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746) |
| - | American Funds International Vantage Fund (Fund No. 333-233374, File No. 811-23467) |
| - | American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449) |
| - | American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409) |
| - | American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750) |
| - | American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101) |
| - | American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448) |
| - | The American Funds Tax-Exempt Series II - The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694) |
| - | American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277) |
| - | American Funds U.S. Small and Mid Cap Equity Fund (File No. 333-280621, File No. 811-23979) |
| - | American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576) |
| - | American High-Income Trust (File No. 033-17917, File No. 811-05364) |
| - | American Mutual Fund (File No. 002-10607, File No. 811-00572) |
| - | The Bond Fund of America (File No. 002-50700, File No. 811-02444) |
| - | Capital Group Central Fund Series - Capital Group Central Cash Fund (File No. 811-23391) |
| - | Capital Group Central Fund Series II - Capital Group Central Corporate Bond Fund (File No. 811-23633) |
| - | Capital Group Completion Fund Series (File No. 333-278929, File No. 811-23959) |
| - | Capital Group Conservative Equity ETF (File No. 333-276928, File No. 811-23933) |
| - | Capital Group Dividend Growers ETF (File No. 333-271210, File No. 811-23866) |
| - | Capital Group Equity ETF Trust I (File No. 333-281924, File No. 811-24000) |
| - | Capital Group Fixed Income ETF Trust (File No. 333-259025, File No. 811-23738) |
| - | Capital Group Global Equity ETF (File No. 333-276927, File No. 811-23934) |
| - | Capital Group International Equity ETF (File No. 333-271212, File No. 811-23865) |
| - | Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349) |
| - | Capital Group U.S. Equity Fund (File No. 333-233376, File No. 811-23469) |
| - | Capital Income Builder (File No. 033-12967, File No. 811-05085) |
| - | Capital World Bond Fund (File No. 033-12447, File No. 811-05104) |
| - | Capital World Growth and Income Fund (File No. 033-54444, File No. 811-07338) |
| - | Emerging Markets Equities Fund, Inc. (File No. 333-74995, File No. 811-04692) |
| - | Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446) |
| - | The Investment Company of America (File No. 002-10811, File No. 811-00116) |
| - | Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888) |
| - | The New Economy Fund (File No. 002-83848, File No. 811-03735) |
| - | Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928) |
| - | The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421) |
hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint
|
Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le |
Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom |
each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.
EXECUTED at New York, NY, on January 1, 2026.
(City, State)
/s/ Merit E. Janow
Merit E. Janow, Board member
POWER OF ATTORNEY
I, Martin E. Koehler, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):
| - | American Balanced Fund (File No. 002-10758, File No. 811-00066) |
| - | American Funds Core Plus Bond Fund (File No. 333-286599, File No. 811-24077) |
| - | American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744) |
| - | American Funds Developing World Growth and Income Fund (File No. 333-190913, File No. 811-22881) |
| - | American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122) |
| - | American Funds Fundamental Investors (File No. 002-10760, File No. 811-00032) |
| - | The American Funds Income Series - U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318) |
| - | American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746) |
| - | American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449) |
| - | American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409) |
| - | American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750) |
| - | American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101) |
| - | American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448) |
| - | The American Funds Tax-Exempt Series II - The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694) |
| - | American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277) |
| - | American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576) |
| - | American High-Income Trust (File No. 033-17917, File No. 811-05364) |
| - | The Bond Fund of America (File No. 002-50700, File No. 811-02444) |
| - | Capital Group Central Fund Series - Capital Group Central Cash Fund (File No. 811-23391) |
| - | Capital Group Central Fund Series II - Capital Group Central Corporate Bond Fund (File No. 811-23633) |
| - | Capital Group Completion Fund Series (File No. 333-278929, File No. 811-23959) |
| - | Capital Group Core Balanced ETF (File No. 333-271211, File No. 811-23867) |
| - | Capital Group Dividend Value ETF (File No. 333-259023, File No. 811-23736) |
| - | Capital Group Fixed Income ETF Trust (File No. 333-259025, File No. 811-23738) |
| - | Capital Group International Core Equity ETF (File No. 333-276930, File No. 811-23935) |
| - | Capital Group International Focus Equity ETF (File No. 333-259022, File No. 811-23734) |
| - | Capital Group New Geography Equity ETF (File No. 333-276931, File No. 811-23936) |
| - | Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349) |
| - | Capital World Bond Fund (File No. 033-12447, File No. 811-05104) |
| - | EUPAC Fund (File No. 002-83847, File No. 811-03734) |
| - | EUPAC Fund |
| - | The Growth Fund of America (File No. 002-14728, File No. 811-00862) |
| - | The Income Fund of America (File No. 002-33371, File No. 811-01880) |
| - | Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446) |
| - | International Growth and Income Fund (File No. 333-152323, File No. 811-22215) |
| - | Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888) |
| - | New Perspective Fund (File No. 002-47749, File No. 811-02333) |
| - | New World Fund, Inc. (File No. 333-67455, File No. 811-09105) |
| - | American Funds New World Fund |
| - | Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928) |
| - | SMALLCAP World Fund, Inc. (File No. 033-32785, File No. 811-05888) |
| - | SMALLCAP World Fund |
| - | The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421) |
| - | Washington Mutual Investors Fund (File No. 002-11051, File No. 811-00604) |
hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint
|
Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le |
Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom |
each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.
EXECUTED at Berlin, Germany, on January 1, 2026.
(City, State)
/s/ Martin E. Koehler
Martin E. Koehler, Board member
POWER OF ATTORNEY
I, Benjamin R. Miller, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):
| - | American Funds Core Plus Bond Fund (File No. 333-286599, File No. 811-24077) |
| - | American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744) |
| - | American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122) |
| - | The American Funds Income Series - U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318) |
| - | American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746) |
| - | American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449) |
| - | American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409) |
| - | American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750) |
| - | American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101) |
| - | American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448) |
| - | The American Funds Tax-Exempt Series II - The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694) |
| - | American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277) |
| - | American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576) |
| - | American High-Income Trust (File No. 033-17917, File No. 811-05364) |
| - | The Bond Fund of America (File No. 002-50700, File No. 811-02444) |
| - | Capital Group Central Fund Series - Capital Group Central Cash Fund (File No. 811-23391) |
| - | Capital Group Central Fund Series II - Capital Group Central Corporate Bond Fund (File No. 811-23633) |
| - | Capital Group Completion Fund Series (File No. 333-278929, File No. 811-23959) |
| - | Capital Group Fixed Income ETF Trust (File No. 333-259025, File No. 811-23738) |
| - | Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349) |
| - | Capital World Bond Fund (File No. 033-12447, File No. 811-05104) |
| - | Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446) |
| - | Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888) |
| - | Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928) |
| - | The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421) |
hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint
|
Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le |
Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom |
each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.
EXECUTED at London, England, on January 1, 2026.
(City, State)
/s/ Benjamin R. Miller
Benjamin R. Miller, Board member
POWER OF ATTORNEY
I, Josette Sheeran, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):
| - | American Balanced Fund (File No. 002-10758, File No. 811-00066) |
| - | American Funds Core Plus Bond Fund (File No. 333-286599, File No. 811-24077) |
| - | American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744) |
| - | American Funds Developing World Growth and Income Fund (File No. 333-190913, File No. 811-22881) |
| - | American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122) |
| - | American Funds Fundamental Investors (File No. 002-10760, File No. 811-00032) |
| - | The American Funds Income Series - U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318) |
| - | American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746) |
| - | American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449) |
| - | American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409) |
| - | American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750) |
| - | American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101) |
| - | American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448) |
| - | The American Funds Tax-Exempt Series II - The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694) |
| - | American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277) |
| - | American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576) |
| - | American High-Income Trust (File No. 033-17917, File No. 811-05364) |
| - | The Bond Fund of America (File No. 002-50700, File No. 811-02444) |
| - | Capital Group Central Fund Series - Capital Group Central Cash Fund (File No. 811-23391) |
| - | Capital Group Central Fund Series II - Capital Group Central Corporate Bond Fund (File No. 811-23633) |
| - | Capital Group Completion Fund Series (File No. 333-278929, File No. 811-23959) |
| - | Capital Group Core Balanced ETF (File No. 333-271211, File No. 811-23867) |
| - | Capital Group Dividend Value ETF (File No. 333-259023, File No. 811-23736) |
| - | Capital Group Fixed Income ETF Trust (File No. 333-259025, File No. 811-23738) |
| - | Capital Group International Core Equity ETF (File No. 333-276930, File No. 811-23935) |
| - | Capital Group International Focus Equity ETF (File No. 333-259022, File No. 811-23734) |
| - | Capital Group New Geography Equity ETF (File No. 333-276931, File No. 811-23936) |
| - | Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349) |
| - | Capital World Bond Fund (File No. 033-12447, File No. 811-05104) |
| - | EUPAC Fund (File No. 002-83847, File No. 811-03734) |
| - | EUPAC Fund |
| - | The Growth Fund of America (File No. 002-14728, File No. 811-00862) |
| - | The Income Fund of America (File No. 002-33371, File No. 811-01880) |
| - | Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446) |
| - | International Growth and Income Fund (File No. 333-152323, File No. 811-22215) |
| - | Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888) |
| - | New Perspective Fund (File No. 002-47749, File No. 811-02333) |
| - | New World Fund, Inc. (File No. 333-67455, File No. 811-09105) |
| - | American Funds New World Fund |
| - | Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928) |
| - | SMALLCAP World Fund, Inc. (File No. 033-32785, File No. 811-05888) |
| - | SMALLCAP World Fund |
| - | The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421) |
| - | Washington Mutual Investors Fund (File No. 002-11051, File No. 811-00604) |
hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint
|
Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le |
Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom |
each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.
EXECUTED at New York NY, on January 1, 2026.
(City, State)
/s/ Josette Sheeran
Josette Sheeran, Board member
POWER OF ATTORNEY
I, Margaret Spellings, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):
| - | American Funds College Target Date Series (File No. 333-180729, File No. 811-22692) |
| - | American Funds Core Plus Bond Fund (File No. 333-286599, File No. 811-24077) |
| - | American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744) |
| - | American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122) |
| - | The American Funds Income Series - U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318) |
| - | American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746) |
| - | American Funds Insurance Series (File No. 002-86838, File No. 811-03857) |
| - | American Funds Insurance Series |
| - | American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449) |
| - | American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409) |
| - | American Funds Portfolio Series (File No. 333-178936, File No. 811-22656) |
| - | American Funds Retirement Income Portfolio Series (File No. 333-203797, File No. 811-23053) |
| - | American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750) |
| - | American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101) |
| - | American Funds Target Date Retirement Series (File No. 333-138648, File No. 811-21981) |
| - | American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448) |
| - | The American Funds Tax-Exempt Series II - The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694) |
| - | American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277) |
| - | American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576) |
| - | American High-Income Trust (File No. 033-17917, File No. 811-05364) |
| - | The Bond Fund of America (File No. 002-50700, File No. 811-02444) |
| - | Capital Group Central Fund Series - Capital Group Central Cash Fund (File No. 811-23391) |
| - | Capital Group Central Fund Series II - Capital Group Central Corporate Bond Fund (File No. 811-23633) |
| - | Capital Group Completion Fund Series (File No. 333-278929, File No. 811-23959) |
| - | Capital Group Core Equity ETF (File No. 333-259021, File No. 811-23735) |
| - | Capital Group Fixed Income ETF Trust (File No. 333-259025, File No. 811-23738) |
| - | Capital Group Global Growth Equity ETF (File No. 333-259024, File No. 811-23737) |
| - | Capital Group Growth ETF (File No. 333-259020, File No. 811-23733) |
| - | Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349) |
| - | Capital World Bond Fund (File No. 033-12447, File No. 811-05104) |
| - | Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446) |
| - | Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888) |
| - | Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928) |
| - | The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421) |
hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint
|
Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le |
Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom |
each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.
EXECUTED at Washington DC, on January 1, 2026.
(City, State)
/s/ Margaret Spellings
Margaret Spellings, Board member
POWER OF ATTORNEY
I, Alexandra Trower, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):
| - | American Funds College Target Date Series (File No. 333-180729, File No. 811-22692) |
| - | American Funds Core Plus Bond Fund (File No. 333-286599, File No. 811-24077) |
| - | American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744) |
| - | American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122) |
| - | The American Funds Income Series - U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318) |
| - | American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746) |
| - | American Funds Insurance Series (File No. 002-86838, File No. 811-03857) |
| - | American Funds Insurance Series |
| - | American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449) |
| - | American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409) |
| - | American Funds Portfolio Series (File No. 333-178936, File No. 811-22656) |
| - | American Funds Retirement Income Portfolio Series (File No. 333-203797, File No. 811-23053) |
| - | American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750) |
| - | American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101) |
| - | American Funds Target Date Retirement Series (File No. 333-138648, File No. 811-21981) |
| - | American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448) |
| - | The American Funds Tax-Exempt Series II - The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694) |
| - | American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277) |
| - | American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576) |
| - | American High-Income Trust (File No. 033-17917, File No. 811-05364) |
| - | The Bond Fund of America (File No. 002-50700, File No. 811-02444) |
| - | Capital Group Central Fund Series - Capital Group Central Cash Fund (File No. 811-23391) |
| - | Capital Group Central Fund Series II - Capital Group Central Corporate Bond Fund (File No. 811-23633) |
| - | Capital Group Completion Fund Series (File No. 333-278929, File No. 811-23959) |
| - | Capital Group Core Equity ETF (File No. 333-259021, File No. 811-23735) |
| - | Capital Group Fixed Income ETF Trust (File No. 333-259025, File No. 811-23738) |
| - | Capital Group Global Growth Equity ETF (File No. 333-259024, File No. 811-23737) |
| - | Capital Group Growth ETF (File No. 333-259020, File No. 811-23733) |
| - | Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349) |
| - | Capital World Bond Fund (File No. 033-12447, File No. 811-05104) |
| - | Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446) |
| - | Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888) |
| - | Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928) |
| - | The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421) |
hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint
|
Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le |
Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom |
each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.
EXECUTED at New York, NY, on January 1, 2026.
(City, State)
/s/ Alexandra Trower
Alexandra Trower, Board member
POWER OF ATTORNEY
I, Paul S. Williams, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):
| - | American Funds College Target Date Series (File No. 333-180729, File No. 811-22692) |
| - | American Funds Core Plus Bond Fund (File No. 333-286599, File No. 811-24077) |
| - | American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744) |
| - | American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122) |
| - | The American Funds Income Series - U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318) |
| - | American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746) |
| - | American Funds Insurance Series (File No. 002-86838, File No. 811-03857) |
| - | American Funds Insurance Series |
| - | American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449) |
| - | American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409) |
| - | American Funds Portfolio Series (File No. 333-178936, File No. 811-22656) |
| - | American Funds Retirement Income Portfolio Series (File No. 333-203797, File No. 811-23053) |
| - | American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750) |
| - | American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101) |
| - | American Funds Target Date Retirement Series (File No. 333-138648, File No. 811-21981) |
| - | American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448) |
| - | The American Funds Tax-Exempt Series II - The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694) |
| - | American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277) |
| - | American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576) |
| - | American High-Income Trust (File No. 033-17917, File No. 811-05364) |
| - | The Bond Fund of America (File No. 002-50700, File No. 811-02444) |
| - | Capital Group Central Fund Series - Capital Group Central Cash Fund (File No. 811-23391) |
| - | Capital Group Central Fund Series II - Capital Group Central Corporate Bond Fund (File No. 811-23633) |
| - | Capital Group Completion Fund Series (File No. 333-278929, File No. 811-23959) |
| - | Capital Group Core Equity ETF (File No. 333-259021, File No. 811-23735) |
| - | Capital Group Fixed Income ETF Trust (File No. 333-259025, File No. 811-23738) |
| - | Capital Group Global Growth Equity ETF (File No. 333-259024, File No. 811-23737) |
| - | Capital Group Growth ETF (File No. 333-259020, File No. 811-23733) |
| - | Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349) |
| - | Capital World Bond Fund (File No. 033-12447, File No. 811-05104) |
| - | Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446) |
| - | Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888) |
| - | Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928) |
| - | The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421) |
hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint
|
Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le |
Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom |
each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.
EXECUTED at Chicago, IL, on January 1, 2026.
(City, State)
/s/ Paul S. Williams
Paul S. Williams, Board member
POWER OF ATTORNEY
I, Courtney K. Wolf, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):
| - | American Funds Core Plus Bond Fund (File No. 333-286599, File No. 811-24077) |
| - | American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744) |
| - | American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122) |
| - | The American Funds Income Series - U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318) |
| - | American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746) |
| - | American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449) |
| - | American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409) |
| - | American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750) |
| - | American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101) |
| - | American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448) |
| - | The American Funds Tax-Exempt Series II - The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694) |
| - | American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277) |
| - | American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576) |
| - | American High-Income Trust (File No. 033-17917, File No. 811-05364) |
| - | The Bond Fund of America (File No. 002-50700, File No. 811-02444) |
| - | Capital Group Central Fund Series - Capital Group Central Cash Fund (File No. 811-23391) |
| - | Capital Group Central Fund Series II - Capital Group Central Corporate Bond Fund (File No. 811-23633) |
| - | Capital Group Completion Fund Series (File No. 333-278929, File No. 811-23959) |
| - | Capital Group Fixed Income ETF Trust (File No. 333-259025, File No. 811-23738) |
| - | Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349) |
| - | Capital World Bond Fund (File No. 033-12447, File No. 811-05104) |
| - | Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446) |
| - | Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888) |
| - | Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928) |
| - | The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421) |
hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint
|
Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le |
Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom |
each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.
EXECUTED at Los Angeles, CA, on January 1, 2026.
(City, State)
/s/ Courtney K. Wolf
Courtney K. Wolf, Board member
Capital Group Central Fund Series published this content on January 30, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on January 30, 2026 at 15:15 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]