0000051931-13-000082.txt : 20130122 0000051931-13-000082.hdr.sgml : 20130121 20130122161430 ACCESSION NUMBER: 0000051931-13-000082 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20130122 DATE AS OF CHANGE: 20130122 EFFECTIVENESS DATE: 20130122 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CAPITAL PRIVATE CLIENT SERVICES FUNDS CENTRAL INDEX KEY: 0001474365 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-22349 FILM NUMBER: 13540488 BUSINESS ADDRESS: STREET 1: 6455 IRVINE CENTER DRIVE CITY: IRVINE STATE: CA ZIP: 92618 BUSINESS PHONE: 213-486-9200 MAIL ADDRESS: STREET 1: 333 SOUTH HOPE STREET CITY: LOS ANGELES STATE: CA ZIP: 90071 FORMER COMPANY: FORMER CONFORMED NAME: PERSONAL INVESTMENT MANAGEMENT PORTFOLIO SERIES DATE OF NAME CHANGE: 20091014 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CAPITAL PRIVATE CLIENT SERVICES FUNDS CENTRAL INDEX KEY: 0001474365 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-163115 FILM NUMBER: 13540489 BUSINESS ADDRESS: STREET 1: 6455 IRVINE CENTER DRIVE CITY: IRVINE STATE: CA ZIP: 92618 BUSINESS PHONE: 213-486-9200 MAIL ADDRESS: STREET 1: 333 SOUTH HOPE STREET CITY: LOS ANGELES STATE: CA ZIP: 90071 FORMER COMPANY: FORMER CONFORMED NAME: PERSONAL INVESTMENT MANAGEMENT PORTFOLIO SERIES DATE OF NAME CHANGE: 20091014 0001474365 S000027394 Capital Core Municipal Fund C000082662 Share class CCMPX 0001474365 S000027395 Capital Short-Term Municipal Fund C000082663 Share class CSTMX 0001474365 S000027396 Capital California Core Municipal Fund C000082664 Share class CCCMX 0001474365 S000027397 Capital California Short-Term Municipal Fund C000082665 Share class CCSTX 0001474365 S000027398 Capital Core Bond Fund C000082666 Share class CCBPX 0001474365 S000031199 Capital Global Equity Fund C000096877 Share class CGLOX 0001474365 S000031200 Capital Non-U.S. Equity Fund C000096878 Share class CNUSX 0001474365 S000031201 Capital U.S. Equity Fund C000096879 Share class CUSEX 485BPOS 1 cpcs485bxbrl.htm CAPITAL PRIVATE CLIENT SERVICES FUNDS

 

SEC. File Nos. 333-163115

811-22349

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

___________

 

 

FORM N-1A

Registration Statement

Under

the Securities Act of 1933

Post-Effective Amendment No. 7

and

Registration Statement

Under

the Investment Company Act of 1940

Amendment No. 10

 

___________

 

 

CAPITAL PRIVATE CLIENT SERVICES FUNDS

(Exact Name of Registrant as specified in charter)

 

6455 Irvine Center Drive

Irvine, CA 92618

(Address of principal executive offices)

 

Registrant's telephone number, including area code:

(949) 975-5000

 

___________

  

 

COURTNEY R. TAYLOR, Secretary

Capital Private Client Services Funds

6455 Irvine Center Drive
Irvine, California 92618

(Name and Address of Agent for Service)

 

Copy to:

 

Michael Glazer
Bingham McCutchen LLP

355 South Grand Avenue, Suite 4400

Los Angeles, CA 90071-3106

 

(Counsel for the Registrant)

 

___________

 

 

Approximate date of proposed public offering:

It is proposed that this filing become effective immediately pursuant to paragraph (b) of rule 485.

 

 
 

SIGNATURES

 

Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets all of the requirements for effectiveness of this registration statement under Rule 485(b) under the Securities Act of 1933 and has duly caused this registration statement to be signed on its behalf by the undersigned, duly authorized, in the City of Irvine, in the County of Orange and State of California, on the 22nd day of January, 2013.

 

CAPITAL PRIVATE CLIENT SERVICES FUNDS

 

By: /s/ Paul F. Roye

Chairman of the Board

 

Pursuant to the requirements of the Securities Act of 1933, this amendment to Registration Statement has been signed below on January 22, 2013 by the following persons in the capacities indicated.

 

  Signature Title
   
(1) Principal Executive Officer:
     
  /s/ John B. Emerson President
  (John B. Emerson)
 
(2) Principal Financial Officer and Principal Accounting Officer:
     
  /s/ Kevin M. Saks Treasurer
  (Kevin M. Saks)
 
(3) Trustees:
     
  Richard G. Capen, Jr.* Trustee
  H. Frederick Christie* Trustee
  Martin Fenton* Trustee
  Richard G. Newman* Trustee
     
  /s/ Paul F. Roye Chairman of the Board
  (Paul F. Roye)
     
  *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 under the provisions of rule 485(b).

 

 

/s/ Timothy W. McHale

(Timothy W. McHale)

 

 
 

POWER OF ATTORNEY

 

I, Richard G. Capen, Jr., the undersigned trustee of the Capital Private Client Services Funds (the “Trust”) hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Trust and do hereby constitute and appoint

 

Courtney R. Taylor

Timothy W. McHale

Kevin M. Saks

  

 

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 Trust 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 Diego, CA, this 3rd day of August, 2012.

(City, State)

 

 

/s/ Richard G. Capen, Jr.

Richard G. Capen, Jr., Trustee

 
 

POWER OF ATTORNEY

 

I, H. Frederick Christie, the undersigned trustee of the Capital Private Client Services Funds (the “Trust”) hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Trust and do hereby constitute and appoint

 

Courtney R. Taylor

Timothy W. McHale

Kevin M. Saks

  

 

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 Trust 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 Palos Verdes, CA, this 3rd day of August, 2012.

(City, State)

 

/s/ H. Frederick Christie

H. Frederick Christie, Trustee

 
 

POWER OF ATTORNEY

 

I, Martin Fenton, the undersigned trustee of the Capital Private Client Services Funds (the “Trust”) hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Trust and do hereby constitute and appoint

 

Courtney R. Taylor

Timothy W. McHale

Kevin M. Saks

  

 

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 Trust 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 Diego, CA, this 2nd day of August, 2012.

(City, State)

 

/s/ Martin Fenton

Martin Fenton, Trustee

 
 

POWER OF ATTORNEY

 

I, Richard G. Newman, the undersigned trustee of the Capital Private Client Services Funds (the “Trust”) hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Trust and do hereby constitute and appoint

 

Courtney R. Taylor

Timothy W. McHale

Kevin M. Saks

  

 

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 Trust 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, this 2nd day of August, 2012.

(City, State)

 

 

/s/ Richard G. Newman

Richard G. Newman, Trustee

 

 
 

Exhibit Index

 

Exhibit No. Description
   
EX-101.INS XBRL Instance Document
EX-101.SCH XBRL Taxonomy Extension Schema Document
EX-101.CAL XBRL Taxonomy Extension Calculation Linkbase
EX-101.DEF XBRL Taxonomy Extension Definition Linkbase
EX-101.LAB XBRL Taxonomy Extension Labels Linkbase
EX-101.PRE XBRL Taxonomy Extension Presentation Linkbase

 

 EX-101.INS 2 ck0001474365-20121031.xml XBRL INSTANCE FILE 485BPOS 2012-10-31 0001474365 2013-01-01 CAPITAL PRIVATE CLIENT SERVICES FUNDS false 2012-12-28 2013-01-01 <tt>The fund pays transaction costs, such as commissions, when it buys and sells <br />securities (or "turns over" its portfolio). A higher portfolio turnover rate <br />may indicate higher transaction costs and may result in higher taxes when <br />fund shares are held in a taxable account. These costs, which are not<br />reflected in annual fund operating expenses or in the example, affect the fund's<br />investment results. During the most recent fiscal year, the fund's portfolio<br />turnover rate was 53% of the average value of its portfolio.</tt> <div style="display:none">~ http://www.americanfunds.com/role/ExpenseExample_S000031201Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>The fund seeks to preserve your investment while providing growth.</tt> <tt>This example is intended to help you compare the cost of investing in<br />the fund with the cost of investing in other mutual funds.<br /> <br />The example assumes that you invest $10,000 in the fund for the time periods<br />indicated and then redeem all of your shares at the end of those periods. The<br />example also assumes that your investment has a 5% return each year and that the<br />fund's operating expenses remain the same.</tt> <tt>The fund invests primarily in common stocks, or securities convertible into<br />common stocks, of U.S. issuers that the investment adviser believes have the<br />potential for growth. The fund may also invest in common stocks, or securities<br />convertible into common stocks, of U.S. issuers with the potential to pay<br />dividends in the future. Under normal market conditions, the fund will invest at<br />least 80% of its net assets in equity-type securities and at least 80% of its<br />net assets in securities of issuers in the United States. Investments may<br />include U.S. registered securities of issuers outside of the United States such<br />as American Depository Receipts.<br /> <br />In pursuing the fund's objectives, the investment adviser will seek to preserve<br />your investment. While the investment adviser seeks to preserve capital,<br />investing is subject to market risks and may result in periods of volatility and<br />the potential for loss. In pursuing the fund's growth objective, the fund's<br />investment adviser focuses primarily on companies with attributes that are<br />associated with long-term growth, such as strong management, participation in a<br />growing market and the potential for above average growth in earnings, revenues,<br />book value, cash flow and/or return on assets. The investment adviser also<br />invests in companies with the potential to provide income in pursuing the fund's<br />objectives.<br /> <br />The investment adviser uses a system of multiple portfolio managers in managing<br />the fund's assets. Under this approach, the portfolio of the fund is divided<br />into segments managed by individual managers who decide how their respective<br />segments will be invested.<br /> <br />The fund relies on the professional judgment of its investment adviser to make<br />decisions about the fund's portfolio investments. The basic investment philosophy <br />of the investment adviser is to seek to invest in attractively valued companies <br />that, in its opinion, represent good, long-term investment opportunities. The <br />investment adviser believes that an important way to accomplish this is through <br />fundamental analysis, which may include meeting with company executives and <br />employees, suppliers, customers and competitors. Securities may be sold when <br />the investment adviser believes that they no longer represent relatively <br />attractive investment opportunities.</tt> Capital U.S. Equity FundSM <tt>The fund's secondary objective is to provide you with income.</tt> Example Information regarding investment results is not available as of the date of this prospectus because the fund's 2012 results were not available on January 1, 2013. Investment objectives You may lose money by investing in the fund. Principal risks Shareholder fees (fees paid directly from your investment) Although your actual costs may be higher or lower, based on these assumptions your costs would be: 0.53 Investment results Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) Portfolio turnover <tt>This section describes the principal risks associated with the fund's principal<br />investment strategies. You may lose money by investing in the fund. The<br />likelihood of loss may be greater if you invest for a shorter period of time.<br />Investors in the fund should have a long-term perspective and be able to<br />tolerate potentially sharp declines in value.<br /> <br />Market conditions - The prices of, and the income generated by, the securities<br />held by the fund may decline due to market conditions and other factors,<br />including those directly involving the issuers of securities held by the fund.<br /> <br />Investing in growth-oriented stocks - Growth-oriented stocks may involve larger<br />price swings and greater potential for loss than other types of investments.<br /> <br />Investing in income-oriented stocks - Income provided by the fund may be reduced<br />by changes in the dividend policies of, and the capital resources available at,<br />the companies in which the fund invests.<br /> <br />Management - The investment adviser to the fund actively manages the fund's<br />investments. Consequently, the fund is subject to the risk that the methods <br />and analyses employed by the investment adviser in this process may not <br />produce the desired results. This could cause the fund to lose value or its <br />investment results to lag relevant benchmarks or other funds with similar <br />objectives.<br /> <br />Your investment in the fund is not a bank deposit and is not insured or guaranteed <br />by the Federal Deposit Insurance Corporation or any other governmental agency, <br />entity or person. You should consider how this fund fits into your overall <br />investment program.</tt> Fees and expenses of the fund Principal investment strategies <tt>Information regarding investment results is not available as of the date of this<br />prospectus because the fund's 2012 results were not available on January 1, 2013.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt> <div style="display:none">~ http://www.americanfunds.com/role/OperatingExpensesData_S000031201Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> Your investment in the fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency, entity or person. <div style="display:none">~ http://www.americanfunds.com/role/ShareholderFeesData_S000031201Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> CUSEX 0.00 66 212 -0.0002 833 0.00 371 0.0002 0.0065 2013-12-31 0.00 0.00 0.0065 0.0067 0.00 <tt>The fund pays transaction costs, such as commissions, when it buys and sells <br />securities (or "turns over" its portfolio). A higher portfolio turnover rate <br />may indicate higher transaction costs and may result in higher taxes when <br />fund shares are held in a taxable account. These costs, which are not reflected <br />in annual fund operating expenses or in the example, affect the fund's investment <br />results. During the most recent fiscal year, the fund's portfolio turnover rate <br />was 17% of the average value of its portfolio.</tt> <div style="display:none">~ http://www.americanfunds.com/role/ExpenseExample_S000031200Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>The fund seeks to preserve your investment while providing growth.</tt> <tt>This example is intended to help you compare the cost of investing in the fund <br />with the cost of investing in other mutual funds.<br /> <br />The example assumes that you invest $10,000 in the fund for the time periods<br />indicated and then redeem all of your shares at the end of those periods. The<br />example also assumes that your investment has a 5% return each year and that <br />the fund's operating expenses remain the same.</tt> <tt>The fund invests primarily in common stocks, or securities convertible into<br />common stocks, of issuers outside of the United States that the investment<br />adviser believes have the potential for growth. The fund may also invest in<br />common stocks, or securities convertible into common stocks, of issuers outside<br />the U.S. with the potential to pay dividends in the future. Under normal market<br />conditions, the fund will invest at least 80% of its net assets in equity-type<br />securities and at least 80% of its net assets in securities of issuers outside<br />the United States. The fund may invest up to 15% of its net assets in the<br />securities of issuers based in emerging markets.<br /> <br />In pursuing the fund's objectives, the investment adviser will seek to preserve<br />your investment. While the investment adviser seeks to preserve capital,<br />investing is subject to market risks and may result in periods of volatility and<br />the potential for loss. In pursuing the fund's growth objective, the fund's<br />investment adviser focuses primarily on companies with attributes that are<br />associated with long-term growth, such as strong management, participation in a<br />growing market and the potential for above average growth in earnings, revenues,<br />book value, cash flow and/or return on assets. The investment adviser also<br />invests in companies with the potential to provide income in pursuing the fund's<br />objectives.<br /> <br />The investment adviser uses a system of multiple portfolio managers in managing<br />the fund's assets. Under this approach, the portfolio of the fund is divided<br />into segments managed by individual managers who decide how their respective<br />segments will be invested.<br /> <br />The fund relies on the professional judgment of its investment adviser to make<br />decisions about the fund's portfolio investments. The basic investment philosophy <br />of the investment adviser is to seek to invest in attractively valued companies <br />that, in its opinion, represent good, long-term investment opportunities. The <br />investment adviser believes that an important way to accomplish this is through <br />fundamental analysis, which may include meeting with company executives and <br />employees, suppliers, customers and competitors. Securities may be sold when <br />the investment adviser believes that they no longer represent relatively <br />attractive investment opportunities.</tt> Capital Non-U.S. Equity FundSM Example Information regarding investment results is not available as of the date of this prospectus because the fund's 2012 results were not available on January 1, 2013. Investment objective You may lose money by investing in the fund. Principal risks Shareholder fees (fees paid directly from your investment) Although your actual costs may be higher or lower, based on these assumptions your costs would be: 0.17 Investment results Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) Portfolio turnover <tt>This section describes the principal risks associated with the fund's principal<br />investment strategies. You may lose money by investing in the fund. The<br />likelihood of loss may be greater if you invest for a shorter period of time.<br />Investors in the fund should have a long-term perspective and be able to<br />tolerate potentially sharp declines in value.<br /> <br />Market conditions - The prices of, and the income generated by, the securities<br />held by the fund may decline due to market conditions and other factors,<br />including those directly involving the issuers of securities held by the fund.<br /> <br />Investing in growth-oriented stocks - Growth-oriented stocks may involve larger<br />price swings and greater potential for loss than other types of investments.<br /> <br />Investing outside the United States - Securities of issuers domiciled outside<br />the United States, or with significant operations outside the United States, <br />may lose value because of adverse political, social, economic or market <br />developments in the countries or regions in which the issuer operates. These <br />securities may also lose value due to changes in foreign currency exchange rates <br />against the U.S. dollar and/or currencies of other countries. Securities markets <br />in certain countries may be more volatile and/or less liquid than those in the <br />United States. Investments outside the United States may also be subject to <br />different settlement and accounting practices and different regulatory, legal <br />and reporting standards, and may be more difficult to value, than those in the<br />United States. The risks of investing outside the United States may be heightened <br />in connection with investments in emerging markets.<br /> <br />Management - The investment adviser to the fund actively manages the fund's<br />investments. Consequently, the fund is subject to the risk that the methods <br />and analyses employed by the investment adviser in this process may not <br />produce the desired results. This could cause the fund to lose value or its <br />investment results to lag relevant benchmarks or other funds with similar <br />objectives.<br /> <br />Your investment in the fund is not a bank deposit and is not insured or guaranteed <br />by the Federal Deposit Insurance Corporation or any other governmental agency, <br />entity or person. You should consider how this fund fits into your overall investment <br />program.</tt> Fees and expenses of the fund Principal investment strategies <tt>Information regarding investment results is not available as of the date of this<br />prospectus because the fund's 2012 results were not available on January 1, 2013.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt> <div style="display:none">~ http://www.americanfunds.com/role/OperatingExpensesData_S000031200Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> Your investment in the fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency, entity or person. <div style="display:none">~ http://www.americanfunds.com/role/ShareholderFeesData_S000031200Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> CNUSX 0.00 87 273 -0.0001 1060 0.00 476 0.0001 0.0085 2013-12-31 0.00 0.00 0.0085 0.0086 0.00 <tt>The fund pays transaction costs, such as commissions, when it buys and sells <br />securities (or "turns over" its portfolio). A higher portfolio turnover rate <br />may indicate higher transaction costs and may result in higher taxes when <br />fund shares are held in a taxable account. These costs, which are not<br />reflected in annual fund operating expenses or in the example, affect the <br />fund's investment results. During the most recent fiscal year, the fund's <br />portfolio turnover rate was 35% of the average value of its portfolio.</tt> <div style="display:none">~ http://www.americanfunds.com/role/ExpenseExample_S000031199Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>The fund seeks to preserve your investment while providing growth.</tt> <tt>This example is intended to help you compare the cost of investing in the <br />fund with the cost of investing in other mutual funds.<br /> <br />The example assumes that you invest $10,000 in the fund for the time periods<br />indicated and then redeem all of your shares at the end of those periods. The<br />example also assumes that your investment has a 5% return each year and that <br />the fund's operating expenses remain the same.</tt> <tt>The fund invests primarily in common stocks, or securities convertible into<br />common stocks, of issuers around the world that the investment adviser believes<br />have the potential for growth. The fund may also invest in common stocks, or<br />securities convertible into common stocks, of issuers around the world with the<br />potential to pay dividends in the future. Under normal market conditions, the<br />fund will invest at least 80% of its net assets in equity-type securities. The<br />fund will allocate its assets among various countries, including the United<br />States (but in no fewer than three countries). Under normal market conditions,<br />the fund will invest significantly in issuers outside the United States (at<br />least 40% of its net assets - unless market conditions are not deemed favorable<br />by the fund's investment adviser, in which case the fund would invest at least<br />30% of its net assets). The fund may invest up to 10% of its net assets in the<br />securities of issuers based in emerging markets.<br /> <br />In pursuing the fund's objectives, the investment adviser will seek to preserve<br />your investment. While the investment adviser seeks to preserve capital,<br />investing is subject to market risks and may result in periods of volatility and<br />the potential for loss. In pursuing the fund's growth objective, the fund's<br />investment adviser focuses primarily on companies with attributes that are<br />associated with long-term growth, such as strong management, participation in a<br />growing market and the potential for above average growth in earnings, revenues,<br />book value, cash flow and/or return on assets. The investment adviser also<br />invests in companies with the potential to provide income in pursuing the fund's<br />objectives.<br /> <br />The investment adviser uses a system of multiple portfolio managers in managing<br />the fund's assets. Under this approach, the portfolio of the fund is divided<br />into segments managed by individual managers who decide how their respective<br />segments will be invested.<br /> <br />The fund relies on the professional judgment of its investment adviser to make<br />decisions about the fund's portfolio investments. The basic investment philosophy <br />of the investment adviser is to seek to invest in attractively valued companies <br />that, in its opinion, represent good, long-term investment opportunities. The <br />investment adviser believes that an important way to accomplish this is through <br />fundamental analysis, which may include meeting with company executives and <br />employees, suppliers, customers and competitors. Securities may be sold when the <br />investment adviser believes that they no longer represent relatively attractive <br />investment opportunities.</tt> Capital Global Equity FundSM Example Information regarding investment results is not available as of the date of this prospectus because the fund's 2012 results were not available on January 1, 2013. Investment objective You may lose money by investing in the fund. Principal risks Shareholder fees (fees paid directly from your investment) Although your actual costs may be higher or lower, based on these assumptions your costs would be: 0.35 Investment results Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) Portfolio turnover <tt>This section describes the principal risks associated with the fund's principal<br />investment strategies. You may lose money by investing in the fund. The<br />likelihood of loss may be greater if you invest for a shorter period of time.<br />Investors in the fund should have a long-term perspective and be able to<br />tolerate potentially sharp declines in value.<br /> <br />Market conditions - The prices of, and the income generated by, the securities<br />held by the fund may decline due to market conditions and other factors,<br />including those directly involving the issuers of securities held by the fund.<br /> <br />Investing in growth-oriented stocks - Growth-oriented stocks may involve larger<br />price swings and greater potential for loss than other types of investments.<br /> <br />Investing outside the United States - Securities of issuers domiciled outside<br />the United States, or with significant operations outside the United States, <br />may lose value because of adverse political, social, economic or market <br />developments in the countries or regions in which the issuer operates. These <br />securities may also lose value due to changes in foreign currency exchange <br />rates against the U.S. dollar and/or currencies of other countries. Securities <br />markets in certain countries may be more volatile and/or less liquid than those <br />in the United States. Investments outside the United States may also be subject <br />to different settlement and accounting practices and different regulatory, legal <br />and reporting standards, and may be more difficult to value, than those in the<br />United States. The risks of investing outside the United States may be<br />heightened in connection with investments in emerging markets.<br /> <br />Management - The investment adviser to the fund actively manages the fund's<br />investments. Consequently, the fund is subject to the risk that the methods <br />and analyses employed by the investment adviser in this process may not <br />produce the desired results. This could cause the fund to lose value or its <br />investment results to lag relevant benchmarks or other funds with similar <br />objectives.<br /> <br />Your investment in the fund is not a bank deposit and is not insured or guaranteed <br />by the Federal Deposit Insurance Corporation or any other governmental agency, <br />entity or person. You should consider how this fund fits into your overall investment <br />program.</tt> Fees and expenses of the fund Principal investment strategies <tt>Information regarding investment results is not available as of the date of this<br />prospectus because the fund's 2012 results were not available on January 1, 2013.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt> <div style="display:none">~ http://www.americanfunds.com/role/OperatingExpensesData_S000031199Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> Your investment in the fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency, entity or person. <div style="display:none">~ http://www.americanfunds.com/role/ShareholderFeesData_S000031199Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> CGLOX 0.00 87 273 -0.0001 1060 0.00 476 0.0001 0.0085 2013-12-31 0.00 0.00 0.0085 0.0086 0.00 <tt>The fund pays transaction costs, such as commissions, when it buys and sells <br />securities (or "turns over" its portfolio). A higher portfolio turnover rate <br />may indicate higher transaction costs and may result in higher taxes when <br />fund shares are held in a taxable account. These costs, which are not reflected <br />in annual fund operating expenses or in the example, affect the fund's investment <br />results. During the most recent fiscal year, the fund's portfolio turnover rate <br />was 134% of the average value of its portfolio.</tt> <div style="display:none">~ http://www.americanfunds.com/role/ExpenseExample_S000027398Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.americanfunds.com/role/BarChartData_S000027398Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>The fund's investment objective is to provide you with current income while<br />preserving your investment.</tt> <tt>This example is intended to help you compare the cost of investing in the fund <br />with the cost of investing in other mutual funds.<br /> <br />The example assumes that you invest $10,000 in the fund for the time periods<br />indicated and then redeem all of your shares at the end of those periods. The<br />example also assumes that your investment has a 5% return each year and that <br />the fund's operating expenses remain the same.</tt> reflects no deductions for account fees or U.S. federal income taxes <tt>The fund primarily invests in intermediate-term debt securities, including<br />securities issued and guaranteed by the U.S. government and securities backed <br />by mortgages or other assets. The fund may also invest in debt securities and<br />mortgage-backed securities issued by federal agencies and instrumentalities that<br />are not backed by the full faith and credit of the U.S. government. In addition,<br />the fund may invest in asset-backed securities (securities backed by assets such<br />as auto loans, credit card receivables or other providers of credit).<br /> <br />The fund will invest at least 80% of its assets in bonds (for purposes of this<br />limit, bonds include any debt instrument and cash equivalents, and may include<br />certain preferred securities). The fund primarily invests in debt securities<br />with quality ratings of A- or A3 or better by Nationally Recognized Statistical<br />Ratings Organizations ("NRSROs") designated by the fund's investment adviser or<br />unrated but determined to be of equivalent quality by the fund's investment<br />adviser. The fund may invest up to 10% of its assets in debt securities rated in<br />the BBB or Baa rating categories by NRSROs or unrated but determined to be of<br />equivalent quality by the fund's investment adviser. Under normal circumstances,<br />the dollar-weighted average maturity of the fund's portfolio will be between<br />three and 10 years.<br /> <br />The investment adviser uses a system of multiple portfolio managers in managing<br />the fund's assets. Under this approach, the portfolio of the fund is divided<br />into segments managed by individual managers who decide how their respective<br />segments will be invested.<br /> <br />The fund relies on the professional judgment of its investment adviser to make<br />decisions about the fund's portfolio investments. The basic investment philosophy <br />of the investment adviser is to seek to invest in attractively priced securities <br />that, in its opinion, represent good investment opportunities. The investment <br />adviser believes that an important way to accomplish this is by analyzing various <br />factors, which may include the credit strength of the issuer, prices of similar <br />securities issued by comparable issuers, anticipated changes in interest rates, <br />general market conditions and other factors pertinent to the particular security <br />being evaluated. Securities may be sold when the investment adviser believes that <br />they no longer represent relatively attractive investment opportunities.</tt> Capital Core Bond FundSM Example After-tax returns are calculated using the highest individual federal income tax rates in effect during each year of the periods shown and do not reflect the impact of state and local taxes. Investment objective Past investment results (before and after taxes) are not predictive of future investment results. The Lipper Short-Intermediate Investment Grade Debt Funds Average includes funds that disclose investment objectives and/or strategies reasonably comparable to the fund's objective and/or strategies. You may lose money by investing in the fund. Principal risks Shareholder fees (fees paid directly from your investment) Although your actual costs may be higher or lower, based on these assumptions your costs would be: 1.34 Your actual after-tax returns depend on your individual tax situation and likely will differ from the results shown above. In addition, after-tax returns are not relevant if you hold your fund shares through a tax-favored arrangement, such as a 401(k) plan or individual retirement account (IRA). Calendar year total returns for fund shares Investment results <tt>After-tax returns are calculated using the highest individual federal income <br />tax rates in effect during each year of the periods shown and do not reflect <br />the impact of state and local taxes. Your actual after-tax returns depend on <br />your individual tax situation and likely will differ from the results shown <br />above. In addition, after-tax returns are not relevant if you hold your fund <br />shares through a tax-favored arrangement, such as a 401(k) plan or individual<br />retirement account (IRA).</tt> The following bar chart shows the fund's investment results for its first full calendar year of operations, and the following table shows how the fund's average annual total returns for its first full calendar year of operations compare with a broad measure of market results. <tt>Highest/Lowest quarterly results during this period were:<br /><br />Highest 2.82%(quarter ended June 30, 2010)<br /><br />Lowest -1.65%(quarter ended December 31, 2010)<br /><br />The fund's total return for the nine months ended <br />September 30, 2012, was 3.30%.</tt> 800/421-4996 Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) Average annual total returns For the periods ended December 31, 2011: <tt>The following bar chart shows the fund's investment results for its first full<br />calendar year of operations, and the following table shows how the fund's<br />average annual total returns for its first full calendar year of operations<br />compare with a broad measure of market results.</tt> Portfolio turnover <tt>This section describes the principal risks associated with the fund's principal<br />investment strategies. You may lose money by investing in the fund. The<br />likelihood of loss may be greater if you invest for a shorter period of time.<br /> <br />Market conditions - The prices of, and the income generated by, the securities<br />held by the fund may decline due to market conditions and other factors,<br />including those directly involving the issuers of securities held by the fund.<br /> <br />Investing in bonds - Rising interest rates will generally cause the prices of<br />bonds and other debt securities to fall. Longer maturity debt securities may be<br />subject to greater price fluctuations than shorter maturity debt securities. In<br />addition, falling interest rates may cause an issuer to redeem, call or refinance <br />a security before its stated maturity, which may result in the fund having to <br />reinvest the proceeds in lower yielding securities.<br /> <br />Bonds and other debt securities are subject to credit risk, which is the<br />possibility that the credit strength of an issuer will weaken and/or an issuer<br />of a debt security will fail to make timely payments of principal or interest<br />and the security will go into default. Credit risk is gauged, in part, by the<br />credit ratings of the securities in which the fund invests. However, ratings are<br />only the opinions of the rating agencies issuing them and are not guarantees as<br />to credit quality or an evaluation of market risk.<br /> <br />Investing in lower rated bonds - Lower rated bonds and other lower rated debt<br />securities generally have higher rates of interest and involve greater risk of<br />default or price declines due to changes in the issuer's creditworthiness than<br />those of higher quality debt securities. The market prices of these securities<br />may fluctuate more than the prices of higher quality debt securities and may<br />decline significantly in periods of general economic difficulty.<br /> <br />Investing in mortgage-related securities - Many types of bonds and other debt<br />securities, including mortgage-backed securities, are subject to prepayment risk<br />as well as the risks associated with investing in debt securities in general. If<br />interest rates fall and the loans underlying these securities are prepaid faster<br />than expected, the fund may have to reinvest the prepaid principal in lower<br />yielding securities, thus reducing the fund's income. Conversely, if interest<br />rates increase and the loans underlying the securities are prepaid more slowly<br />than expected, the expected duration of the securities may be extended, reducing<br />the cash flow for potential reinvestment in higher yielding securities.<br /> <br />Investing in securities backed by the U.S. government - Securities backed by the<br />U.S. Treasury or the full faith and credit of the U.S. government are guaranteed<br />only as to the timely payment of interest and principal when held to maturity.<br />Accordingly, the current market values for these securities will fluctuate with<br />changes in interest rates. Securities issued by government-sponsored entities<br />and federal agencies and instrumentalities that are not backed by the full faith<br />and credit of the U.S. government are neither issued nor guaranteed by the U.S.<br />government.<br /> <br />Thinly traded securities - There may be little trading in the secondary market<br />for particular bonds or other debt securities, which may make them more<br />difficult to value, acquire or sell.<br /> <br />Management - The investment adviser to the fund actively manages the fund's<br />investments. Consequently, the fund is subject to the risk that the methods <br />and analyses employed by the investment adviser in this process may not <br />produce the desired results. This could cause the fund to lose value or its <br />investment results to lag relevant benchmarks or other funds with similar <br />objectives.<br /> <br />Your investment in the fund is not a bank deposit and is not insured or guaranteed <br />by the Federal Deposit Insurance Corporation or any other governmental agency, <br />entity or person. You should consider how this fund fits into your overall <br />investment program.</tt> Fees and expenses of the fund Principal investment strategies <tt>The following bar chart shows the fund's investment results for its first <br />full calendar year of operations, and the following table shows how the <br />fund's average annual total returns for its first full calendar year of <br />operations compare with a broad measure of market results. This information <br />provides some indication of the risks of investing in the fund. The Lipper <br />Short-Intermediate Investment Grade Debt Funds Average includes funds that <br />disclose investment objectives and/or strategies reasonably comparable to <br />the fund's objective and/or strategies. Past investment results (before <br />and after taxes) are not predictive of future investment results. Updated <br />information on the fund's investment results can be obtained by calling <br />Capital Group Private Client Services at 800/421-4996.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt> <div style="display:none">~ http://www.americanfunds.com/role/OperatingExpensesData_S000027398Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.americanfunds.com/role/PerformanceTableData_S000027398Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> Your investment in the fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency, entity or person. <div style="display:none">~ http://www.americanfunds.com/role/ShareholderFeesData_S000027398Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> Lipper Short-Intermediate Investment Grade Debt Funds Average (reflects no deductions for account fees or U.S. federal income taxes) 0.0396 0.0437 2010-04-13 Barclays U.S. Government/Credit 1-10 Year ex BBB Index (reflects no deductions for account fees, expenses or U.S. federal income taxes) 0.0567 0.0559 2010-04-13 After taxes on distributions and sale of fund shares 0.0367 0.0387 2010-04-13 After taxes on distributions 0.0489 0.0424 2010-04-13 CCBPX Lowest Highest 0.00 2012-09-30 Before taxes 41 2010-06-30 133 -0.0165 -0.0002 528 0.00 233 0.0282 0.0564 0.0007 0.0035 2013-12-31 2010-12-31 The fund's total return for the nine months ended 0.0564 0.00 0.00 0.0040 0.0042 0.0521 2010-04-13 0.0330 0.00 <tt>The fund pays transaction costs, such as commissions, when it buys and sells <br />securities (or "turns over" its portfolio). A higher portfolio turnover rate <br />may indicate higher transaction costs and may result in higher taxes when <br />fund shares are held in a taxable account. These costs, which are not reflected <br />in annual fund operating expenses or in the example, affect the fund's investment <br />results. During the most recent fiscal year, the fund's portfolio turnover rate <br />was 14% of the average value of its portfolio.</tt> <div style="display:none">~ http://www.americanfunds.com/role/ExpenseExample_S000027397Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.americanfunds.com/role/BarChartData_S000027397Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>The fund seeks to preserve your investment</tt> <tt>This example is intended to help you compare the cost of investing in the fund <br />with the cost of investing in other mutual funds.<br /> <br />The example assumes that you invest $10,000 in the fund for the time periods<br />indicated and then redeem all of your shares at the end of those periods. The<br />example also assumes that your investment has a 5% return each year and that <br />the fund's operating expenses remain the same.</tt> reflects no deductions for account fees or U.S. federal income taxes <tt>The fund seeks to achieve its objectives by primarily investing in short-term<br />municipal bonds issued by the state of California and its agencies and<br />municipalities. Consistent with the fund's objectives, the fund may also invest<br />in municipal securities that are issued by jurisdictions outside California.<br /> <br />The fund will invest at least 80% of its assets in bonds (for purposes of this<br />limit, bonds include any debt instrument and cash equivalents, and may include<br />certain preferred securities). Under normal circumstances, the fund will invest<br />at least 80% of its assets in, or derive at least 80% of its income from,<br />securities that are exempt from both federal and California income taxes. The<br />fund will not invest in securities that subject you to the federal alternative<br />minimum tax. The investment adviser will seek to manage the fund in order to<br />minimize capital gain distributions.<br /> <br />The fund invests primarily in municipal bonds with quality ratings of A- or A3<br />or better by Nationally Recognized Statistical Ratings Organizations ("NRSROs")<br />designated by the fund's investment adviser or unrated but determined by the<br />fund's investment adviser to be of equivalent quality. The fund may also invest<br />a portion of its assets in municipal bonds with quality ratings below A- or A3<br />by NRSROs or unrated but determined by the fund's investment adviser to be of<br />equivalent quality. Under normal circumstances, the fund's aggregate portfolio<br />will have a dollar-weighted average maturity no greater than three years.<br /> <br />The investment adviser uses a system of multiple portfolio managers in managing<br />the fund's assets. Under this approach, the portfolio of the fund is divided<br />into segments managed by individual managers who decide how their respective<br />segments will be invested.<br /> <br />The fund relies on the professional judgment of its investment adviser to make<br />decisions about the fund's portfolio investments. The basic investment philosophy <br />of the investment adviser is to seek to invest in attractively priced securities <br />that, in its opinion, represent good investment opportunities. The investment <br />adviser believes that an important way to accomplish this is by analyzing various <br />factors, which may include the credit strength of the issuer, prices of similar <br />securities issued by comparable issuers, anticipated changes in interest rates, <br />general market conditions and other factors pertinent to the particular security <br />being evaluated. Securities may be sold when the investment adviser believes that <br />they no longer represent relatively attractive investment opportunities.</tt> Capital California Short-Term Municipal FundSM <tt>and secondarily to provide current income exempt from federal and California income taxes.</tt> Example After-tax returns are calculated using the highest individual federal income tax rates in effect during each year of the periods shown and do not reflect the impact of state and local taxes. Investment objectives Past investment results (before and after taxes) are not predictive of future investment results. The Lipper California Short-Intermediate Municipal Debt Funds Average includes funds that disclose investment objectives and/or strategies reasonably comparable to the fund's objectives and/or strategies. You may lose money by investing in the fund. Principal risks Shareholder fees (fees paid directly from your investment) Although your actual costs may be higher or lower, based on these assumptions your costs would be: 0.14 Your actual after-tax returns depend on your individual tax situation and likely will differ from the results shown above. In addition, after-tax returns are not relevant if you hold your fund shares through a tax-favored arrangement, such as a 401(k) plan or individual retirement account (IRA). Calendar year total returns for fund shares Investment results <tt>After-tax returns are calculated using the highest individual federal income <br />tax rates in effect during each year of the periods shown and do not reflect <br />the impact of state and local taxes. Your actual after-tax returns depend on <br />your individual tax situation and likely will differ from the results shown <br />above. In addition, after-tax returns are not relevant if you hold your fund <br />shares through a tax-favored arrangement, such as a 401(k) plan or individual<br />retirement account (IRA).</tt> The following bar chart shows the fund's investment results for its first full calendar year of operations, and the following table shows how the fund's average annual total returns for its first full calendar year of operations compare with a broad measure of market results. <tt>Highest/Lowest quarterly results during this period were:<br /><br />Highest&#xA0;&#xA0;1.28%(quarter ended June 30, 2011)<br /><br />Lowest&#xA0;&#xA0;-1.15%(quarter ended December 31, 2010)<br /><br />The fund's total return for the nine months ended <br />September 30, 2012, was 1.85%.</tt> 800/421-4996 Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) Average annual total returns For the periods ended December 31, 2011: <tt>The following bar chart shows the fund's investment results for its first full<br />calendar year of operations, and the following table shows how the fund's<br />average annual total returns for its first full calendar year of operations<br />compare with a broad measure of market results.</tt> Portfolio turnover <tt>This section describes the principal risks associated with the fund's principal<br />investment strategies. You may lose money by investing in the fund. The<br />likelihood of loss may be greater if you invest for a shorter period of time.<br /> <br />Investing in municipal bonds of issuers within the state of California - Because<br />the fund invests primarily in securities of issuers within the state of<br />California, the fund is more susceptible to factors adversely affecting issuers<br />of California securities than a comparable municipal bond mutual fund that does<br />not concentrate its investments in a single state. For example, in the past,<br />California voters have passed amendments to the state's constitution and other<br />measures that limit the taxing and spending authority of California governmental<br />entities, and future voter initiatives may adversely affect California municipal<br />bonds. More detailed information about the risks of investing in California<br />municipal securities is contained in the statement of additional information.<br /> <br />Market conditions - The prices of, and the income generated by, the securities<br />held by the fund may decline due to market conditions and other factors,<br />including those directly involving the issuers of securities held by the fund.<br /> <br />Investing in bonds - Rising interest rates will generally cause the prices of<br />bonds and other debt securities to fall. Longer maturity debt securities may be<br />subject to greater price fluctuations than shorter maturity debt securities. In<br />addition, falling interest rates may cause an issuer to redeem, call or<br />refinance a security before its stated maturity, which may result in the fund<br />having to reinvest the proceeds in lower yielding securities.<br /> <br />Bonds and other debt securities are subject to credit risk, which is the<br />possibility that the credit strength of an issuer will weaken and/or an issuer<br />of a debt security will fail to make timely payments of principal or interest<br />and the security will go into default. Credit risk is gauged, in part, by the<br />credit ratings of the securities in which the fund invests. However, ratings are<br />only the opinions of the rating agencies issuing them and are not guarantees as<br />to credit quality or an evaluation of market risk.<br /> <br />Credit and liquidity support - Changes in the credit quality of banks and<br />financial institutions providing credit and liquidity support features could<br />cause the fund to experience a loss and may affect its share price.<br /> <br />Thinly traded securities - There may be little trading in the secondary market<br />for particular bonds or other debt securities, which may make them more<br />difficult to value, acquire or sell.<br /> <br />Investing in similar municipal bonds - Investing significantly in municipal<br />obligations of issuers in the same state or backed by revenues of similar types<br />of projects or industries may make the fund more susceptible to certain<br />economic, political or regulatory occurrences. As a result, the potential for<br />fluctuations in the fund's share price may increase.<br /> <br />Management - The investment adviser to the fund actively manages the fund's<br />investments. Consequently, the fund is subject to the risk that the methods <br />and analyses employed by the investment adviser in this process may not <br />produce the desired results. This could cause the fund to lose value or its <br />investment results to lag relevant benchmarks or other funds with similar <br />objectives.<br /> <br />Your investment in the fund is not a bank deposit and is not insured or guaranteed <br />by the Federal Deposit Insurance Corporation or any other governmental agency, <br />entity or person. You should consider how this fund fits into your overall <br />investment program.</tt> Fees and expenses of the fund Principal investment strategies <tt>The following bar chart shows the fund's investment results for its first <br />full calendar year of operations, and the following table shows how the <br />fund's average annual total returns for its first full calendar year of <br />operations compare with a broad measure of market results. This information <br />provides some indication of the risks of investing in the fund. The Lipper <br />California Short-Intermediate Municipal Debt Funds Average includes funds <br />that disclose investment objectives and/or strategies reasonably comparable <br />to the fund's objectives and/or strategies. Past investment results (before <br />and after taxes) are not predictive of future investment results. Updated <br />information on the fund's investment results can be obtained by calling <br />Capital Group Private Client Services at 800/421-4996.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt> <div style="display:none">~ http://www.americanfunds.com/role/OperatingExpensesData_S000027397Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.americanfunds.com/role/PerformanceTableData_S000027397Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> Your investment in the fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency, entity or person. <div style="display:none">~ http://www.americanfunds.com/role/ShareholderFeesData_S000027397Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> Lipper California Short-Intermediate Municipal Debt Funds Average (reflects no deductions for account fees or U.S. federal income taxes) 0.0412 0.0295 2010-04-13 Barclays California Short Municipal Bond Index (reflects no deductions for account fees, expenses or U.S. federal income taxes) 0.0361 0.0293 2010-04-13 After taxes on distributions and sale of fund shares 0.0225 0.0185 2010-04-13 After taxes on distributions 0.0299 0.0203 2010-04-13 CCSTX Lowest Highest 0.00 2012-09-30 Before taxes 41 2011-06-30 144 -0.0115 -0.0007 585 0.00 256 0.0128 0.0301 0.0012 0.0035 2013-12-31 2010-12-31 The fund's total return for the nine months 0.0301 0.00 0.00 0.0040 0.0047 0.0204 2010-04-13 0.0185 0.00 <tt>The fund pays transaction costs, such as commissions, when it buys and sells <br />securities (or "turns over" its portfolio). A higher portfolio turnover rate <br />may indicate higher transaction costs and may result in higher taxes when <br />fund shares are held in a taxable account. These costs, which are not reflected <br />in annual fund operating expenses or in the example, affect the fund's investment <br />results. During the most recent fiscal year, the fund's portfolio turnover rate <br />was 21% of the average value of its portfolio.</tt> <div style="display:none">~ http://www.americanfunds.com/role/ExpenseExample_S000027396Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.americanfunds.com/role/BarChartData_S000027396Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>The fund seeks to provide current income exempt from federal and California<br />income taxes while preserving your investment.</tt> <tt>This example is intended to help you compare the cost of investing in the fund <br />with the cost of investing in other mutual funds.<br /> <br />The example assumes that you invest $10,000 in the fund for the time periods<br />indicated and then redeem all of your shares at the end of those periods. The<br />example also assumes that your investment has a 5% return each year and that <br />the fund's operating expenses remain the same.</tt> reflects no deductions for account fees or U.S. federal income taxes <tt>The fund seeks to achieve its objective by primarily investing in intermediate<br />maturity municipal bonds issued by the state of California and its agencies and<br />municipalities. Consistent with the fund's objectives, the fund may also invest<br />in municipal securities that are issued by jurisdictions outside California.<br /> <br />The fund will invest at least 80% of its assets in bonds (for purposes of this<br />limit, bonds include any debt instrument and cash equivalents, and may include<br />certain preferred securities). Under normal circumstances, the fund will invest<br />at least 80% of its assets in, or derive at least 80% of its income from,<br />securities that are exempt from federal and California income taxes. The fund<br />will not invest in securities that subject you to the federal alternative<br />minimum tax. The investment adviser will seek to manage the fund in order to<br />minimize capital gain distributions.<br /> <br />The fund invests primarily in municipal bonds with quality ratings of A- or A3<br />or better by Nationally Recognized Statistical Ratings Organizations ("NRSROs")<br />designated by the fund's investment adviser or unrated but determined by the<br />fund's investment adviser to be of equivalent quality. The fund may also invest<br />in municipal bonds in the rating categories of BBB or Baa by NRSROs or unrated<br />but determined by the fund's investment adviser to be of equivalent quality.<br />Under normal circumstances, the dollar-weighted average maturity of the fund's<br />portfolio will be between three and 10 years.<br /> <br />The investment adviser uses a system of multiple portfolio managers in managing<br />the fund's assets. Under this approach, the portfolio of the fund is divided<br />into segments managed by individual managers who decide how their respective<br />segments will be invested.<br /> <br />The fund relies on the professional judgment of its investment adviser to make<br />decisions about the fund's portfolio investments. The basic investment philosophy <br />of the investment adviser is to seek to invest in attractively priced securities <br />that, in its opinion, represent good investment opportunities. The investment <br />adviser believes that an important way to accomplish this is by analyzing various <br />factors, which may include the credit strength of the issuer, prices of similar <br />securities issued by comparable issuers, anticipated changes in interest rates, <br />general market conditions and other factors pertinent to the particular security <br />being evaluated. Securities may be sold when the investment adviser believes that <br />they no longer represent relatively attractive investment opportunities.</tt> Capital California Core Municipal FundSM Example After-tax returns are calculated using the highest individual federal income tax rates in effect during each year of the periods shown and do not reflect the impact of state and local taxes. Investment objective Past investment results (before and after taxes) are not predictive of future investment results. The Lipper California Intermediate Municipal Debt Funds Average includes funds that disclose investment objectives and/or strategies reasonably comparable to the fund's objective and/or strategies. You may lose money by investing in the fund. Principal risks Shareholder fees (fees paid directly from your investment) Although your actual costs may be higher or lower, based on these assumptions your costs would be: 0.21 Your actual after-tax returns depend on your individual tax situation and likely will differ from the results shown above. In addition, after-tax returns are not relevant if you hold your fund shares through a tax-favored arrangement, such as a 401(k) plan or individual retirement account (IRA). Calendar year total returns for fund shares Investment results <tt>After-tax returns are calculated using the highest individual federal income <br />tax rates in effect during each year of the periods shown and do not reflect <br />the impact of state and local taxes. Your actual after-tax returns depend on <br />your individual tax situation and likely will differ from the results shown <br />above. In addition, after-tax returns are not relevant if you hold your fund <br />shares through a tax-favored arrangement, such as a 401(k) plan or individual<br />retirement account (IRA).</tt> The following bar chart shows the fund's investment results for its first full calendar year of operations, and the following table shows how the fund's average annual total returns for its first full calendar year of operations compare with a broad measure of market results. <tt>Highest/Lowest quarterly results during this period were:<br /><br />Highest&#xA0;&#xA0;2.92%(quarter ended June 30, 2011)<br /><br />Lowest&#xA0;&#xA0;-2.49%(quarter ended December 31, 2010)<br /><br />The fund's total return for the nine months ended <br />September 30, 2012, was 3.34%.</tt> 800/421-4996 Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) Average annual total returns For the periods ended December 31, 2011: <tt>The following bar chart shows the fund's investment results for its first full<br />calendar year of operations, and the following table shows how the fund's<br />average annual total returns for its first full calendar year of operations<br />compare with a broad measure of market results. This information provides some<br />indication of the risks of investing in the fund.</tt> Portfolio turnover <tt>This section describes the principal risks associated with the fund's principal<br />investment strategies. You may lose money by investing in the fund. The<br />likelihood of loss may be greater if you invest for a shorter period of time.<br /> <br />Investing in municipal bonds of issuers within the state of California - Because<br />the fund invests primarily in securities of issuers within the state of<br />California, the fund is more susceptible to factors adversely affecting issuers<br />of California securities than a comparable municipal bond mutual fund that does<br />not concentrate its investments in a single state. For example, in the past,<br />California voters have passed amendments to the state's constitution and other<br />measures that limit the taxing and spending authority of California governmental<br />entities, and future voter initiatives may adversely affect California municipal<br />bonds. More detailed information about the risks of investing in California<br />municipal securities is contained in the statement of additional information.<br /> <br />Market conditions - The prices of, and the income generated by, the securities<br />held by the fund may decline due to market conditions and other factors,<br />including those directly involving the issuers of securities held by the fund.<br /> <br />Investing in bonds - Rising interest rates will generally cause the prices of<br />bonds and other debt securities to fall. Longer maturity debt securities may be<br />subject to greater price fluctuations than shorter maturity debt securities. In<br />addition, falling interest rates may cause an issuer to redeem, call or refinance <br />a security before its stated maturity, which may result in the fund having to <br />reinvest the proceeds in lower yielding securities.<br /> <br />Bonds and other debt securities are subject to credit risk, which is the<br />possibility that the credit strength of an issuer will weaken and/or an issuer<br />of a debt security will fail to make timely payments of principal or interest<br />and the security will go into default. Credit risk is gauged, in part, by the<br />credit ratings of the securities in which the fund invests. However, ratings are<br />only the opinions of the rating agencies issuing them and are not guarantees as<br />to credit quality or an evaluation of market risk.<br /> <br />Credit and liquidity support - Changes in the credit quality of banks and<br />financial institutions providing credit and liquidity support features could<br />cause the fund to experience a loss and may affect its share price.<br /> <br />Investing in lower rated bonds - Lower rated bonds and other lower rated debt<br />securities generally have higher rates of interest and involve greater risk of<br />default or price declines due to changes in the issuer's creditworthiness than<br />those of higher quality debt securities. The market prices of these securities<br />may fluctuate more than the prices of higher quality debt securities and may<br />decline significantly in periods of general economic difficulty.<br /> <br />Thinly traded securities - There may be little trading in the secondary market<br />for particular bonds or other debt securities, which may make them more<br />difficult to value, acquire or sell.<br /> <br />Investing in similar municipal bonds - Investing significantly in municipal<br />obligations of issuers in the same state or backed by revenues of similar types<br />of projects or industries may make the fund more susceptible to certain economic, <br />political or regulatory occurrences. As a result, the potential for fluctuations <br />in the fund's share price may increase.<br /> <br />Management - The investment adviser to the fund actively manages the fund's<br />investments. Consequently, the fund is subject to the risk that the methods <br />and analyses employed by the investment adviser in this process may not <br />produce the desired results. This could cause the fund to lose value or its <br />investment results to lag relevant benchmarks or other funds with similar <br />objectives.<br /> <br />Your investment in the fund is not a bank deposit and is not insured or guaranteed <br />by the Federal Deposit Insurance Corporation or any other governmental agency, <br />entity or person. You should consider how this fund fits into your overall <br />investment program.</tt> Fees and expenses of the fund Principal investment strategies <tt>The following bar chart shows the fund's investment results for its first <br />full calendar year of operations, and the following table shows how the <br />fund's average annual total returns for its first full calendar year of <br />operations compare with a broad measure of market results. This information <br />provides some indication of the risks of investing in the fund. The Lipper <br />California Intermediate Municipal Debt Funds Average includes funds that <br />disclose investment objectives and/or strategies reasonably comparable to <br />the fund's objective and/or strategies. Past investment results (before <br />and after taxes) are not predictive of future investment results. Updated <br />information on the fund's investment results can be obtained by calling <br />Capital Group Private Client Services at 800/421-4996.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt> <div style="display:none">~ http://www.americanfunds.com/role/OperatingExpensesData_S000027396Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.americanfunds.com/role/PerformanceTableData_S000027396Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> Your investment in the fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency, entity or person. <div style="display:none">~ http://www.americanfunds.com/role/ShareholderFeesData_S000027396Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> Lipper California Intermediate Municipal Debt Funds Average (reflects no deductions for account fees or U.S. federal income taxes) 0.0849 0.0553 2010-04-13 Barclays California 1-10 Year Intermediate-Short Municipal Bond Index (reflects no deductions for account fees, expenses or U.S. federal income taxes) 0.0710 0.0540 2010-04-13 After taxes on distributions and sale of fund shares 0.0553 0.0402 2010-04-13 After taxes on distributions 0.0738 0.0441 2010-04-13 CCCMX 0 Lowest Highest 0.00 2012-09-30 Before taxes 41 2011-06-30 133 -0.0249 -0.0002 528 233 0.0292 0.0739 0.0007 0.0035 2013-12-31 2010-12-31 The fund's total return for the nine months ended 0.0739 0.00 0.00 0.0040 0.0042 0.0441 2010-04-13 0.0334 0.00 <tt>The fund pays transaction costs, such as commissions, when it buys and sells <br />securities (or "turns over" its portfolio). A higher portfolio turnover rate <br />may indicate higher transaction costs and may result in higher taxes when <br />fund shares are held in a taxable account. These costs, which are not reflected <br />in annual fund operating expenses or in the example, affect the fund's <br />investment results. During the most recent fiscal year, the fund's portfolio<br />turnover rate was 25% of the average value of its portfolio.</tt> <div style="display:none">~ http://www.americanfunds.com/role/ExpenseExample_S000027395Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.americanfunds.com/role/BarChartData_S000027395Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>The fund seeks to preserve your investment</tt> <tt>This example is intended to help you compare the cost of investing in the fund <br />with the cost of investing in other mutual funds.<br /> <br />The example assumes that you invest $10,000 in the fund for the time periods<br />indicated and then redeem all of your shares at the end of those periods. The<br />example also assumes that your investment has a 5% return each year and that <br />the fund's operating expenses remain the same.</tt> reflects no deductions for account fees or U.S. federal income taxes <tt>The fund seeks to achieve its objective by investing primarily in short-term<br />municipal bonds.<br /> <br />The fund will invest at least 80% of its assets in bonds (for purposes of this<br />limit, bonds include any debt instrument and cash equivalents, and may include<br />certain preferred securities). Under normal circumstances, the fund will invest<br />at least 80% of its assets in, or derive at least 80% of its income from,<br />securities that are exempt from federal income tax. The fund will not invest in<br />securities that subject you to the federal alternative minimum tax. The<br />investment adviser will seek to manage the fund in order to minimize capital<br />gain distributions.<br /> <br />The fund invests primarily in municipal bonds with quality ratings of AA- or<br />better or Aa3 or better by Nationally Recognized Statistical Ratings Organizations <br />("NRSROs") designated by the fund's investment adviser or unrated but determined <br />by the fund's investment adviser to be of equivalent quality. The fund may also <br />invest in municipal bonds in the rating categories of A- or A3 by NRSROs or <br />unrated but determined by the fund's investment adviser to be of equivalent <br />quality. Under normal circumstances, the fund's aggregate portfolio will have a <br />dollar-weighted average maturity no greater than three years.<br /> <br />The investment adviser uses a system of multiple portfolio managers in managing<br />the fund's assets. Under this approach, the portfolio of the fund is divided<br />into segments managed by individual managers who decide how their respective<br />segments will be invested.<br /> <br />The fund relies on the professional judgment of its investment adviser to make<br />decisions about the fund's portfolio investments. The basic investment<br />philosophy of the investment adviser is to seek to invest in attractively priced<br />securities that, in its opinion, represent good investment opportunities. The<br />investment adviser believes that an important way to accomplish this is by<br />analyzing various factors, which may include the credit strength of the issuer,<br />prices of similar securities issued by comparable issuers, anticipated changes<br />in interest rates, general market conditions and other factors pertinent to the<br />particular security being evaluated. Securities may be sold when the investment<br />adviser believes that they no longer represent relatively attractive investment<br />opportunities.</tt> Capital Short-Term Municipal FundSM <tt>and secondarily to provide current income exempt from federal income tax.</tt> Example After-tax returns are calculated using the highest individual federal income tax rates in effect during each year of the periods shown and do not reflect the impact of state and local taxes. Investment objectives Past investment results (before and after taxes) are not predictive of future investment results. The Lipper Short Municipal Debt Funds Average includes funds that disclose investment objectives and/or strategies reasonably comparable to the fund's objectives and/or strategies. You may lose money by investing in the fund. Principal risks Shareholder fees (fees paid directly from your investment) Although your actual costs may be higher or lower, based on these assumptions your costs would be: 0.25 Your actual after-tax returns depend on your individual tax situation and likely will differ from the results shown above. In addition, after-tax returns are not relevant if you hold your fund shares through a tax-favored arrangement, such as a 401(k) plan or individual retirement account (IRA). Calendar year total returns for fund shares Investment results <tt>After-tax returns are calculated using the highest individual federal income <br />tax rates in effect during each year of the periods shown and do not reflect <br />the impact of state and local taxes. Your actual after-tax returns depend on <br />your individual tax situation and likely will differ from the results shown <br />above. In addition, after-tax returns are not relevant if you hold your fund <br />shares through a tax-favored arrangement, such as a 401(k) plan or individual<br />retirement account (IRA).</tt> The following bar chart shows the fund's investment results for its first full calendar year of operations, and the following table shows how the fund's average annual total returns for its first full calendar year of operations compare with a broad measure of market results. <tt>Highest/Lowest quarterly results during this period were:<br /><br />Highest&#xA0;&#xA0;1.56%(quarter ended June 30,2011)<br /><br />Lowest&#xA0;&#xA0;-1.13%(quarter ended December 31, 2010)<br /><br />The fund's total return for the nine months ended <br />September 30, 2012, was 1.81%.</tt> 800/421-4996 Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) Average annual total returns For the periods ended December 31, 2011: <tt>The following bar chart shows the fund's investment results for its first full<br />calendar year of operations, and the following table shows how the fund's<br />average annual total returns for its first full calendar year of operations<br />compare with a broad measure of market results.</tt> Portfolio turnover <tt>This section describes the principal risks associated with the fund's principal<br />investment strategies. You may lose money by investing in the fund. The<br />likelihood of loss may be greater if you invest for a shorter period of time.<br /> <br />Market conditions - The prices of, and the income generated by, the securities<br />held by the fund may decline due to market conditions and other factors,<br />including those directly involving the issuers of securities held by the fund.<br /> <br />Investing in bonds - Rising interest rates will generally cause the prices of<br />bonds and other debt securities to fall. Longer maturity debt securities may be<br />subject to greater price fluctuations than shorter maturity debt securities. In<br />addition, falling interest rates may cause an issuer to redeem, call or refinance <br />a security before its stated maturity, which may result in the fund having to <br />reinvest the proceeds in lower yielding securities.<br /> <br />Bonds and other debt securities are subject to credit risk, which is the<br />possibility that the credit strength of an issuer will weaken and/or an issuer<br />of a debt security will fail to make timely payments of principal or interest<br />and the security will go into default. Credit risk is gauged, in part, by the<br />credit ratings of the securities in which the fund invests. However, ratings are<br />only the opinions of the rating agencies issuing them and are not guarantees as<br />to credit quality or an evaluation of market risk.<br /> <br />Credit and liquidity support - Changes in the credit quality of banks and<br />financial institutions providing credit and liquidity support features could<br />cause the fund to experience a loss and may affect its share price.<br /> <br />Thinly traded securities - There may be little trading in the secondary market<br />for particular bonds or other debt securities, which may make them more<br />difficult to value, acquire or sell.<br /> <br />Investing in similar municipal bonds - Investing significantly in municipal<br />obligations of issuers in the same state or backed by revenues of similar types<br />of projects or industries may make the fund more susceptible to certain<br />economic, political or regulatory occurrences. As a result, the potential for<br />fluctuations in the fund's share price may increase.<br /> <br />Management - The investment adviser to the fund actively manages the fund's<br />investments. Consequently, the fund is subject to the risk that the methods and<br />analyses employed by the investment adviser in this process may not produce the<br />desired results. This could cause the fund to lose value or its investment<br />results to lag relevant benchmarks or other funds with similar objectives.<br /> <br />Your investment in the fund is not a bank deposit and is not insured or<br />guaranteed by the Federal Deposit Insurance Corporation or any other<br />governmental agency, entity or person. You should consider how this fund fits<br />into your overall investment program.</tt> Fees and expenses of the fund Principal investment strategies <tt>The following bar chart shows the fund's investment results for its first full<br />calendar year of operations, and the following table shows how the fund's<br />average annual total returns for its first full calendar year of operations<br />compare with a broad measure of market results. This information provides some<br />indication of the risks of investing in the fund. The Lipper Short Municipal<br />Debt Funds Average includes funds that disclose investment objectives and/or<br />strategies reasonably comparable to the fund's objectives and/or strategies.<br />Past investment results (before and after taxes) are not predictive of future<br />investment results. Updated information on the fund's investment results can be<br />obtained by calling Capital Group Private Client Services at 800/421-4996.</tt> <tt>This table describes the fees and expenses that you may pay if you buy <br />and hold shares of the fund.</tt> <div style="display:none">~ http://www.americanfunds.com/role/OperatingExpensesData_S000027395Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.americanfunds.com/role/PerformanceTableData_S000027395Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> Your investment in the fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency, entity or person. <div style="display:none">~ http://www.americanfunds.com/role/ShareholderFeesData_S000027395Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> Lipper Short Municipal Debt Funds Average (reflects no deductions for account fees or U.S. federal income taxes) 0.0240 0.0188 2010-04-13 Barclays 1-5 Year Short Municipal Bond Index (reflects no deductions for account fees, expenses or U.S. federal income taxes) 0.0345 0.0284 2010-04-13 After taxes on distributions and sale of fund shares 0.0251 0.0226 2010-04-13 After taxes on distributions 0.0328 0.0248 2010-04-13 CSTMX Lowest Highest 0.00 2012-09-30 Before taxes 41 2011-06-30 142 -0.0113 -0.0006 573 0.00 252 0.0156 0.0328 0.0011 0.0035 2013-12-31 2010-12-31 The fund's total return for the nine months ended 0.0328 0.00 0.00 0.0040 0.0046 0.0250 2010-04-13 0.0181 0.00 <tt>The fund pays transaction costs, such as commissions, when it buys and sells <br />securities (or "turns over" its portfolio). A higher portfolio turnover rate <br />may indicate higher transaction costs and may result in higher taxes when <br />fund shares are held in a taxable account. These costs, which are not reflected <br />in annual fund operating expenses or in the example, affect the fund's <br />investment results. During the most recent fiscal year, the fund's portfolio<br />turnover rate was 13% of the average value of its portfolio.</tt> <div style="display:none">~ http://www.americanfunds.com/role/ExpenseExample_S000027394Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.americanfunds.com/role/BarChartData_S000027394Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>The fund seeks to provide current income exempt from federal income tax while<br />preserving your investment.</tt> <tt>This example is intended to help you compare the cost of investing in the fund <br />with the cost of investing in other mutual funds.<br /> <br />The example assumes that you invest $10,000 in the fund for the time periods<br />indicated and then redeem all of your shares at the end of those periods. The<br />example also assumes that your investment has a 5% return each year and that <br />the fund's operating expenses remain the same.</tt> reflects no deductions for account fees or U.S. federal income taxes <tt>The fund seeks to achieve its objective by investing primarily in intermediate<br />maturity municipal bonds.<br /> <br />The fund will invest at least 80% of its assets in bonds (for purposes of this<br />limit, bonds include any debt instrument and cash equivalents, and may include<br />certain preferred securities). Under normal circumstances, the fund will invest<br />at least 80% of its assets in, or derive at least 80% of its income from,<br />securities that are exempt from federal income tax. The fund will not invest in<br />securities that subject you to the federal alternative minimum tax. The<br />investment adviser will seek to manage the fund in order to minimize capital<br />gain distributions.<br /> <br />The fund invests primarily in municipal bonds with quality ratings of A- or<br />better or A3 or better by Nationally Recognized Statistical Ratings Organizations <br />("NRSROs") designated by the fund's investment adviser or unrated but determined <br />by the fund's investment adviser to be of equivalent quality. The fund may also <br />invest in municipal bonds in the rating categories of BBB or Baa by NRSROs or <br />unrated but determined by the fund's investment adviser to be of equivalent <br />quality. Under normal circumstances the dollar-weighted average maturity of the <br />fund's portfolio will be between three and 10 years.<br /> <br />The investment adviser uses a system of multiple portfolio managers in managing<br />the fund's assets. Under this approach, the portfolio of the fund is divided<br />into segments managed by individual managers who decide how their respective<br />segments will be invested.<br /> <br />The fund relies on the professional judgment of its investment adviser to make<br />decisions about the fund's portfolio investments. The basic investment philosophy <br />of the investment adviser is to seek to invest in attractively priced securities <br />that, in its opinion, represent good investment opportunities. The investment <br />adviser believes that an important way to accomplish this is by analyzing various <br />factors, which may include the credit strength of the issuer, prices of similar <br />securities issued by comparable issuers, anticipated changes in interest rates, <br />general market conditions and other factors pertinent to the particular security <br />being evaluated. Securities may be sold when the investment adviser believes that <br />they no longer represent relatively attractive investment opportunities.</tt> Capital Core Municipal FundSM Example After-tax returns are calculated using the highest individual federal income tax rates in effect during each year of the periods shown and do not reflect the impact of state and local taxes. Investment objective Past investment results (before and after taxes) are not predictive of future investment results. The Lipper Intermediate Municipal Debt Funds Average includes funds that disclose investment objectives and/or strategies reasonably comparable to the fund's objective and/or strategies. You may lose money by investing in the fund. Principal risks Shareholder fees (fees paid directly from your investment) Although your actual costs may be higher or lower, based on these assumptions your costs would be: 0.13 Your actual after-tax returns depend on your individual tax situation and likely will differ from the results shown above. In addition, after-tax returns are not relevant if you hold your fund shares through a tax-favored arrangement, such as a 401(k) plan or individual retirement account (IRA). Calendar year total returns for fund shares Investment results <tt>After-tax returns are calculated using the highest individual federal income <br />tax rates in effect during each year of the periods shown and do not reflect <br />the impact of state and local taxes. Your actual after-tax returns depend on <br />your individual tax situation and likely will differ from the results shown <br />above. In addition, after-tax returns are not relevant if you hold your fund <br />shares through a tax-favored arrangement, such as a 401(k) plan or individual<br />retirement account (IRA).</tt> The following bar chart shows the fund's investment results for its first full calendar year of operations, and the following table shows how the fund's average annual total returns for its first full calendar year of operations compare with a broad measure of market results. <tt>Highest/Lowest quarterly results during this period were:<br /><br />Highest&#xA0;&#xA0;2.93%(quarter ended June 30, 2011)<br /><br />Lowest&#xA0;&#xA0;-2.65%(quarter ended December 31, 2010)<br /><br />The fund's total return for the nine months ended <br />September 30, 2012, was 3.24%.</tt> 800/421-4996 Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) Average annual total returns For the periods ended December 31, 2011: <tt>The following bar chart shows the fund's investment results for its first <br />full calendar year of operations, and the following table shows how the <br />fund's average annual total returns for its first full calendar year of <br />operations compare with a broad measure of market results.</tt> Portfolio turnover <tt>This section describes the principal risks associated with the fund's principal<br />investment strategies. You may lose money by investing in the fund. The<br />likelihood of loss may be greater if you invest for a shorter period of time.<br /> <br />Market conditions - The prices of, and the income generated by, the securities<br />held by the fund may decline due to market conditions and other factors,<br />including those directly involving the issuers of securities held by the fund.<br /> <br />Investing in bonds - Rising interest rates will generally cause the prices of<br />bonds and other debt securities to fall. Longer maturity debt securities may be<br />subject to greater price fluctuations than shorter maturity debt securities. In<br />addition, falling interest rates may cause an issuer to redeem, call or<br />refinance a security before its stated maturity, which may result in the fund<br />having to reinvest the proceeds in lower yielding securities.<br /> <br />Bonds and other debt securities are subject to credit risk, which is the<br />possibility that the credit strength of an issuer will weaken and/or an issuer<br />of a debt security will fail to make timely payments of principal or interest<br />and the security will go into default. Credit risk is gauged, in part, by the<br />credit ratings of the securities in which the fund invests. However, ratings are<br />only the opinions of the rating agencies issuing them and are not guarantees as<br />to credit quality or an evaluation of market risk.<br /> <br />Credit and liquidity support - Changes in the credit quality of banks and<br />financial institutions providing credit and liquidity support features could<br />cause the fund to experience a loss and may affect its share price.<br /> <br />Investing in lower rated bonds - Lower rated bonds and other lower rated debt<br />securities generally have higher rates of interest and involve greater risk of<br />default or price declines due to changes in the issuer's creditworthiness than<br />those of higher quality debt securities. The market prices of these securities<br />may fluctuate more than the prices of higher quality debt securities and may<br />decline significantly in periods of general economic difficulty.<br /> <br />Thinly traded securities - There may be little trading in the secondary market<br />for particular bonds or other debt securities, which may make them more<br />difficult to value, acquire or sell.<br /> <br />Investing in similar municipal bonds - Investing significantly in municipal<br />obligations of issuers in the same state or backed by revenues of similar types<br />of projects or industries may make the fund more susceptible to certain<br />economic, political or regulatory occurrences. As a result, the potential for<br />fluctuations in the fund's share price may increase.<br /> <br />Management - The investment adviser to the fund actively manages the fund's<br />investments. Consequently, the fund is subject to the risk that the methods <br />and analyses employed by the investment adviser in this process may not <br />produce the desired results. This could cause the fund to lose value or its <br />investment results to lag relevant benchmarks or other funds with similar <br />objectives.<br /> <br />Your investment in the fund is not a bank deposit and is not insured or<br />guaranteed by the Federal Deposit Insurance Corporation or any other<br />governmental agency, entity or person. You should consider how this fund fits<br />into your overall investment program.</tt> Fees and expenses of the fund Principal investment strategies <tt>The following bar chart shows the fund's investment results for its first full<br />calendar year of operations, and the following table shows how the fund's<br />average annual total returns for its first full calendar year of operations<br />compare with a broad measure of market results. This information provides some<br />indication of the risks of investing in the fund. The Lipper Intermediate<br />Municipal Debt Funds Average includes funds that disclose investment objectives<br />and/or strategies reasonably comparable to the fund's objective and/or<br />strategies. Past investment results (before and after taxes) are not predictive<br />of future investment results. Updated information on the fund's investment<br />results can be obtained by calling Capital Group Private Client Services at<br />800/421-4996.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt> <div style="display:none">~ http://www.americanfunds.com/role/OperatingExpensesData_S000027394Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.americanfunds.com/role/PerformanceTableData_S000027394Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> Your investment in the fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency, entity or person. <div style="display:none">~ http://www.americanfunds.com/role/ShareholderFeesData_S000027394Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> Lipper Intermediate Municipal Debt Funds Average (reflects no deductions for account fees or U.S. federal income taxes) 0.0870 0.0575 2010-04-13 Barclays 1-10 Year Intermediate-Short Municipal Bond Index (reflects no deductions for account fees, expenses or U.S. federal income taxes) 0.0676 0.0519 2010-04-13 After taxes on distributions and sale of fund shares 0.0536 0.0434 2010-04-13 After taxes on distributions 0.0710 0.0475 2010-04-13 CCMPX Lowest Highest 0.00 2012-09-30 Before taxes 41 2011-06-30 133 -0.0265 -0.0002 528 233 0.0293 0.0710 0.0007 0.0035 2013-12-31 2010-12-31 The fund's total returns for the nine months ended 0.00 0.0710 0.00 0.00 0.0040 0.0042 0.0480 2010-04-13 0.0324 0.00 0001474365 ck0001474365:SummaryS000027394Memberck0001474365:S000027394Memberck0001474365:C000082662Member 2013-01-01 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ck0001474365:SummaryS000027398Memberck0001474365:S000027398Member 2013-01-01 2013-01-01 0001474365 ck0001474365:SummaryS000031199Memberck0001474365:S000031199Memberck0001474365:C000096877Member 2013-01-01 2013-01-01 0001474365 ck0001474365:SummaryS000031199Memberck0001474365:S000031199Member 2013-01-01 2013-01-01 0001474365 ck0001474365:SummaryS000031200Memberck0001474365:S000031200Memberck0001474365:C000096878Member 2013-01-01 2013-01-01 0001474365 ck0001474365:SummaryS000031200Memberck0001474365:S000031200Member 2013-01-01 2013-01-01 0001474365 ck0001474365:SummaryS000031201Memberck0001474365:S000031201Memberck0001474365:C000096879Member 2013-01-01 2013-01-01 0001474365 ck0001474365:SummaryS000031201Memberck0001474365:S000031201Member 2013-01-01 2013-01-01 0001474365 2013-01-01 2013-01-01 pure iso4217:USD Clients of Capital Guardian Trust Company's Capital Group Private Client Services division ("CGPCS") are eligible to invest in the fund. CGPCS receives an annual service fee of up to .75% of a client's investment in the fund under management by CGPCS pursuant to an investment management agreement. You should read carefully the disclosures provided to you by CGPCS regarding the fees. The disclosures include information about the fees charged to you and paid to CGPCS for the services it provides. The fund's investment adviser is currently reimbursing the fund for a portion of other expenses so that other expenses do not exceed .05%. The fund expects that the reimbursement, which can be modified or terminated only with the approval of the fund's board of trustees, will be in effect through December 31, 2013. The fund's investment adviser is currently reimbursing the fund for a portion of other expenses so that total fund expenses do not exceed .85%. The fund expects that the reimbursement, which can be modified or terminated only with the approval of the fund's board of trustees, will be in effect through December 31, 2013. The fund's investment adviser is currently reimbursing the fund for a portion of other expenses so that total fund expenses do not exceed .65%. The fund expects that the reimbursement, which can be modified or terminated only with the approval of the fund's board of trustees, will be in effect through December 31, 2013. 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