N-CSRS

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

Certified Shareholder Report of

Registered Management Investment Companies

Investment Company Act File Number: 811-02333

New Perspective Fund

(Exact Name of Registrant as Specified in Charter)

333 South Hope Street, 55th Floor

Los Angeles, California 90071

(Address of Principal Executive Offices)

Registrant's telephone number, including area code: (949) 975-5000

Date of fiscal year end: September 30

Date of reporting period: March 31, 2023

Brian C. Janssen

New Perspective Fund

6455 Irvine Center Drive

Los Angeles, California 90071

(Name and Address of Agent for Service)

ITEM 1 – Reports to Stockholders

New Perspective Fund^®   Semi-annual report
for the six months ended
March 31, 2023

Tap into the
growth potential of
global equities

New Perspective Fund seeks to provide you with long-term growth of capital.

This fund is one of more than 40 offered by Capital Group, home of American Funds, one of the nation’s largest mutual fund families. For over 90 years, Capital Group has invested with a long-term focus based on thorough research and attention to risk.

Fund results shown in this report, unless otherwise indicated, are for Class F-2 and Class A shares at net asset value. If a sales charge (maximum 5.75% for Class A shares) had been deducted, the results would have been lower. Results are for past periods and are not predictive of results for future periods. Current and future results may be lower or higher than those shown. Prices and returns will vary, so investors may lose money. Investing for short periods makes losses more likely. For current information and month-end results, refer to capitalgroup.com.

Here are the average annual total returns on a $1,000 investment for periods ended March 31, 2023 (the most recent calendar quarter-end):

	1 year			5 years			10 years
Class F-2 shares		–8.94	%		9.24	%		10.59	%
Class A shares (Reflecting 5.75% maximum sales charge)		–14.37			7.72			9.70

For other share class results, refer to capitalgroup.com and americanfundsretirement.com.

The total annual fund operating expense ratios were 0.52% for Class F-2 shares and 0.72% for Class A shares as of the prospectus dated December 1, 2022.

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, investment results reflect fee waivers and/or expense reimbursements, without which they would have been lower. Refer to capitalgroup.com for more information.

Investing outside the United States involves risks, such as currency fluctuations, periods of illiquidity and price volatility, as more fully described in the prospectus. These risks may be heightened in connection with investments in developing countries.

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

Fellow investors:

Results for New Perspective Fund for the periods ended March 31, 2023, are shown in the table below, as well as results of the fund’s benchmark.

For additional information about the fund, its investment results, holdings and portfolio managers, refer to capitalgroup.com/individual/investments/fund/ANWFX. You can also access information about Capital Group’s American Funds and read our insights about the markets, retirement, saving for college, investing fundamentals and more at capitalgroup.com.

Contents

1	Results at a glance
2	Investment portfolio
9	Financial statements
13	Notes to financial statements
23	Financial highlights

Results at a glance

(for periods ended March 31, 2023, with all distributions reinvested)

	Cumulative total returns						Average annual total returns
	6 months			1 year			5 years			10 years			Lifetime1
New Perspective Fund (Class F-2 shares)2		19.64	%		–8.94	%		9.24	%		10.59	%		12.21	%
New Perspective Fund (Class A shares)		19.49			–9.15			9.01			10.36			11.98
MSCI All Country World Index (ACWI)3		17.78			–7.44			6.93			8.06			8.54	4

Past results are not predictive of results in future periods.

1	Lifetime returns are as of March 13, 1973, the inception date of Class A shares.
2	Class F-2 shares were first offered on August 1, 2008. Class F-2 share results prior to the date of first sale are hypothetical based on the results of the original share class of the fund without a sales charge, adjusted for typical estimated expenses. Refer to capitalgroup.com for more information on specific expense adjustments and the actual dates of first sale.
3	MSCI All Country World Index (ACWI) is a free float-adjusted market capitalization-weighted index that is designed to measure equity market results in the global developed and emerging markets, consisting of more than 40 developed and emerging market country indexes. The index is unmanaged and, therefore, has no expenses. Investors cannot invest directly in an index. Source: MSCI.
4	From March 13, 1973, through December 31, 1987, the MSCI World Index was used because the MSCI ACWI did not exist. MSCI World Index results reflect dividends net of withholding taxes, and MSCI ACWI results reflect dividends gross of withholding taxes through December 31, 2000, and dividends net of withholding taxes thereafter.

New Perspective Fund 1

Investment portfolio March 31, 2023 unaudited

Sector diversification Percent of net assets

Country diversification by domicile Percent of
net assets

United States	50.22	%
Eurozone*	15.83
United Kingdom	4.66
Denmark	4.38
Japan	3.00
Canada	2.92
Switzerland	2.55
Taiwan	2.49
Hong Kong	1.95
Other countries	6.83
Short-term securities & other assets less liabilities	5.17

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

Common stocks 94.78%	Shares		Value (000)
Information technology 18.69%
Microsoft Corp.		16,777,505	$	4,836,955
Taiwan Semiconductor Manufacturing Company, Ltd.		151,721,941		2,687,886
ASML Holding NV		2,451,167		1,674,870
ASML Holding NV (New York registered) (ADR)		1,233,920		839,942
Broadcom, Inc.		2,750,453		1,764,526
TE Connectivity, Ltd.		5,098,467		668,664
Motorola Solutions, Inc.		2,278,836		652,043
GoDaddy, Inc., Class A1,2		7,886,320		612,925
STMicroelectronics NV		11,066,239		592,001
SAP SE		4,271,919		537,396
ON Semiconductor Corp.2		6,526,353		537,249
Apple, Inc.		3,052,971		503,435
Salesforce, Inc.2		2,448,700		489,201
Applied Materials, Inc.		3,941,922		484,186
Synopsys, Inc.2		1,022,131		394,798
ServiceNow, Inc.2		841,725		391,166
Keyence Corp.		795,340		389,929
Trimble, Inc.2		6,215,303		325,806
NVIDIA Corp.		1,128,795		313,545
Samsung Electronics Co., Ltd.		6,087,416		301,865
Capgemini SE		1,539,898		286,431
Shopify, Inc., Class A, subordinate voting shares2		5,110,668		245,005
Wolfspeed, Inc.2		3,546,162		230,323
Nice, Ltd. (ADR)2,3		953,885		218,335
Cloudflare, Inc., Class A2		2,791,074		172,098
MediaTek, Inc.		5,976,000		155,995
Adobe, Inc.2		366,999		141,430
Tokyo Electron, Ltd.		1,150,959		140,730
Hexagon AB, Class B		12,155,973		139,882
Smartsheet, Inc., Class A2		2,855,795		136,507
Halma PLC		4,260,165		117,609
Infosys, Ltd. (ADR)		5,058,596		88,222
Micron Technology, Inc.		1,194,277		72,063
EPAM Systems, Inc.2		215,382		64,399
Workday, Inc., Class A2		293,205		60,559
Endava PLC, Class A (ADR)2		589,976		39,635
Sinch AB2,3		8,647,227		23,372
				21,330,983
Health care 17.46%
Novo Nordisk A/S, Class B		18,260,419		2,897,793
Novo Nordisk A/S, Class B (ADR)		691,436		110,035
AstraZeneca PLC		11,434,304		1,587,083
AstraZeneca PLC (ADR)		1,153,660		80,076

2 New Perspective Fund

Common stocks (continued)	Shares		Value (000)
Health care (continued)
Eli Lilly and Company		4,077,060	$	1,400,144
Thermo Fisher Scientific, Inc.		1,904,787		1,097,862
Regeneron Pharmaceuticals, Inc.2		1,192,954		980,215
Seagen, Inc.2		4,594,582		930,265
Zoetis, Inc., Class A		5,386,453		896,521
Vertex Pharmaceuticals, Inc.2		2,643,231		832,803
Alnylam Pharmaceuticals, Inc.2		3,486,932		698,502
Danaher Corp.		2,707,869		682,491
EssilorLuxottica		3,708,977		669,568
Intuitive Surgical, Inc.2		2,318,155		592,219
Insulet Corp.2		1,809,294		577,092
BeiGene, Ltd. (ADR)2,3		2,443,364		526,618
BeiGene, Ltd.2		2,882,400		47,647
Pfizer, Inc.		13,272,212		541,506
Bristol-Myers Squibb Company		6,307,249		437,155
IDEXX Laboratories, Inc.2		869,643		434,891
Edwards Lifesciences Corp.2		4,849,560		401,204
Abbott Laboratories		3,546,473		359,116
Catalent, Inc.2		4,681,670		307,633
Sanofi		2,666,041		290,338
Mettler-Toledo International, Inc.2		177,400		271,459
NovoCure, Ltd.2		3,833,079		230,521
Bayer AG		2,901,146		184,792
Lonza Group AG		285,135		171,499
CRISPR Therapeutics AG2,3		3,550,544		160,591
Siemens Healthineers AG		2,757,546		158,598
Genmab A/S2		335,883		126,829
Eurofins Scientific SE, non-registered shares3		1,854,875		124,455
Teva Pharmaceutical Industries, Ltd. (ADR)2		14,000,000		123,900
Grifols, SA, Class B (ADR)2		13,380,412		98,613
Grifols, SA, Class A, non-registered shares2		2,185,891		21,628
Carl Zeiss Meditec AG, non-registered shares		863,452		119,920
DexCom, Inc.2		859,725		99,883
Olympus Corp.		5,372,400		94,350
Amplifon SpA		2,652,315		92,196
BioNTech SE (ADR)		700,000		87,199
Tandem Diabetes Care, Inc.2		1,991,752		80,885
AbbVie, Inc.		481,252		76,697
Moderna, Inc.2		497,935		76,473
WuXi Biologics (Cayman), Inc.2		9,919,500		61,355
Straumann Holding AG		284,386		42,649
GE HealthCare Technologies, Inc.2		177,324		14,546
Merck KGaA		56,400		10,486
Bio-Techne Corp.		116,414		8,637
Viatris, Inc.		674,006		6,484
				19,923,422
Consumer discretionary 12.60%
Tesla, Inc.2		11,437,946		2,372,916
LVMH Moët Hennessy-Louis Vuitton SE		1,702,044		1,559,852
Booking Holdings, Inc.2		395,182		1,048,185
Home Depot, Inc.		2,501,354		738,200
Kering SA		1,002,152		654,061
Hermès International		322,471		653,201
Prosus NV, Class N		7,328,207		573,084
NIKE, Inc., Class B		4,051,736		496,905
Amazon.com, Inc.2		4,037,112		416,993
Royal Caribbean Cruises, Ltd.2		6,144,883		401,261
Entain PLC		24,402,063		379,769
YUM! Brands, Inc.		2,830,944		373,911
Restaurant Brands International, Inc.3		5,411,750		363,345
Renault SA		8,548,240		349,014
MercadoLibre, Inc.2		260,306		343,099
lululemon athletica, Inc.2		904,142		329,280
Amadeus IT Group SA, Class A, non-registered shares2		4,745,311		317,730
Evolution AB		2,160,821		289,932
Hilton Worldwide Holdings, Inc.		2,018,112		284,291
Flutter Entertainment PLC2		1,554,573		282,746

New Perspective Fund 3

Common stocks (continued)	Shares		Value (000)
Consumer discretionary (continued)
Galaxy Entertainment Group, Ltd.2		31,994,000	$	212,684
Industria de Diseño Textil, SA		6,174,240		207,349
Trip.com Group, Ltd. (ADR)2		5,133,663		193,385
Airbnb, Inc., Class A2		1,428,294		177,680
Naspers, Ltd., Class N		925,273		170,388
Cie. Financière Richemont SA, Class A		1,028,442		164,860
adidas AG		789,022		139,311
Etsy, Inc.2		1,238,050		137,832
Sands China, Ltd.2		38,494,000		134,354
Suzuki Motor Corp.		3,581,925		130,374
General Motors Company		3,009,655		110,394
Wynn Macau, Ltd.2,3		106,140,000		103,817
McDonald’s Corp.		318,503		89,057
Valeo SA, non-registered shares		4,141,100		85,218
Nitori Holdings Co., Ltd.		638,400		76,971
Aptiv PLC2		106,176		11,912
				14,373,361
Industrials 11.24%
DSV A/S		5,666,597		1,093,747
Caterpillar, Inc.		4,534,996		1,037,788
Airbus SE, non-registered shares		6,810,393		912,363
Carrier Global Corp.		19,483,248		891,359
Safran SA		4,955,969		735,990
Canadian Pacific Railway, Ltd.3		8,832,834		679,598
Schneider Electric SE		3,332,761		557,134
Daikin Industries, Ltd.		3,047,200		546,324
Copart, Inc.2		6,875,172		517,082
BAE Systems PLC		35,346,047		428,501
ABB, Ltd.		10,198,317		349,721
TransDigm Group, Inc.		453,250		334,068
Equifax, Inc.		1,601,243		324,796
Ryanair Holdings PLC (ADR)2		3,347,734		315,658
ASSA ABLOY AB, Class B		12,345,588		296,415
Delta Air Lines, Inc.2		7,760,593		271,000
Komatsu, Ltd.		9,595,800		238,062
Boeing Company2		1,103,747		234,469
RELX PLC		6,850,740		221,775
Honeywell International, Inc.		1,052,695		201,191
Aalberts NV, non-registered shares		4,098,484		193,342
FedEx Corp.		812,083		185,553
Axon Enterprise, Inc.2		810,195		182,172
Spirax-Sarco Engineering PLC		1,187,369		174,251
Chart Industries, Inc.2,3		1,328,022		166,534
Regal Rexnord Corp.		1,152,198		162,149
Mitsui & Co., Ltd.		5,117,000		159,471
SMC Corp.		289,100		153,280
General Electric Co.		1,591,791		152,175
Rockwell Automation		491,233		144,152
Uber Technologies, Inc.2		3,937,812		124,829
Recruit Holdings Co., Ltd.		4,369,183		121,103
Brenntag SE		1,497,662		112,432
Techtronic Industries Co., Ltd.		10,095,516		110,218
Concentrix Corp.		851,342		103,481
L3Harris Technologies, Inc.		514,602		100,985
ITT, Inc.		918,134		79,235
ATS Corp.2		1,871,832		78,377
Experian PLC		1,679,433		55,279
Hitachi, Ltd.		858,700		47,200
Northrop Grumman Corp.		54,300		25,071
Canadian National Railway Company (CAD denominated)		83,283		9,827
				12,828,157
Financials 11.06%
AIA Group, Ltd.		142,739,583		1,499,819
JPMorgan Chase & Co.		6,245,590		813,863
Chubb, Ltd.		3,815,421		740,878
London Stock Exchange Group PLC		7,448,724		723,899

4 New Perspective Fund

Common stocks (continued)	Shares		Value (000)
Financials (continued)
Aon PLC, Class A		1,770,131	$	558,105
Mastercard, Inc., Class A		1,312,334		476,915
ICICI Bank, Ltd.		22,240,773		238,515
ICICI Bank, Ltd. (ADR)		10,690,180		230,694
Visa, Inc., Class A		1,955,881		440,973
Edenred SA		6,913,449		409,046
DBS Group Holdings, Ltd.		15,887,700		394,845
CME Group, Inc., Class A		1,990,715		381,262
DNB Bank ASA		21,175,094		379,824
Arch Capital Group, Ltd.2		5,432,231		368,686
Morgan Stanley		4,197,336		368,526
Blackstone, Inc., nonvoting shares		3,693,842		324,467
Moody’s Corp.		1,052,718		322,153
Goldman Sachs Group, Inc.		959,406		313,831
Bank of America Corp.		10,571,708		302,351
UniCredit SpA		14,403,731		272,814
Block, Inc., Class A2		3,691,051		253,390
Block, Inc., Class A (CDI)2		214,694		14,930
BlackRock, Inc.		388,947		260,252
AXA SA		8,366,495		255,821
Prudential PLC		17,255,842		235,996
Société Générale		8,844,747		199,650
S&P Global, Inc.		563,927		194,425
Hiscox, Ltd.		13,873,960		190,165
Brookfield Asset Management, Ltd., Class A		5,751,537		188,190
Zurich Insurance Group AG		345,171		165,161
Arthur J. Gallagher & Co.		771,500		147,596
Adyen NV2		87,985		139,511
TMX Group, Ltd.		1,200,188		121,218
Citigroup, Inc.		2,451,000		114,927
Hong Kong Exchanges and Clearing, Ltd.		2,550,800		113,217
Worldline SA, non-registered shares2		2,617,458		111,240
United Overseas Bank, Ltd.		4,355,900		97,740
Fidelity National Information Services, Inc.		1,108,996		60,252
Tokio Marine Holdings, Inc.		2,933,500		56,561
Skandinaviska Enskilda Banken AB, Class A		4,087,767		45,082
MSCI, Inc.		63,000		35,260
EQT AB		1,714,952		35,077
FleetCor Technologies, Inc.2		90,311		19,042
				12,616,169
Consumer staples 6.59%
Nestlé SA		12,388,121		1,512,302
Philip Morris International, Inc.		8,332,467		810,332
Costco Wholesale Corp.		1,523,077		756,771
Carlsberg A/S, Class B		4,006,605		619,502
Bunge, Ltd.		5,564,457		531,517
Mondelez International, Inc.		6,589,372		459,411
L’Oréal SA, bonus shares		686,197		307,006
L’Oréal SA, non-registered shares		157,391		70,417
Monster Beverage Corp.2		6,846,534		369,781
Anheuser-Busch InBev SA/NV		4,814,803		321,060
British American Tobacco PLC		8,302,619		290,963
Pernod Ricard SA		999,969		226,573
Walgreens Boots Alliance, Inc.		6,265,868		216,674
Reckitt Benckiser Group PLC		2,742,866		208,388
Carrefour SA, non-registered shares		9,814,929		198,417
Constellation Brands, Inc., Class A		529,136		119,526
Kao Corp.		2,855,700		111,506
KOSÉ Corp.3		902,400		107,183
Danone SA		1,484,853		92,311
Uni-Charm Corp.		1,782,600		73,274
General Mills, Inc.		777,695		66,462
Procter & Gamble Company		294,877		43,845
Varun Beverages, Ltd.		624,761		10,553
				7,523,774

New Perspective Fund 5

Common stocks (continued)	Shares		Value (000)
Communication services 5.96%
Meta Platforms, Inc., Class A2		10,352,949	$	2,194,204
Alphabet, Inc., Class C2		7,660,266		796,668
Alphabet, Inc., Class A2		7,191,194		745,942
Netflix, Inc.2		3,026,632		1,045,641
América Móvil, SAB de CV, Class B (ADR)		19,972,648		420,424
Tencent Holdings, Ltd.		8,145,100		397,997
MTN Group, Ltd.3		23,162,491		165,510
Singapore Telecommunications, Ltd.		84,896,800		157,317
Electronic Arts, Inc.		1,211,131		145,881
Publicis Groupe SA		1,541,000		120,392
Sea, Ltd., Class A (ADR)2		1,305,812		113,018
Warner Music Group Corp., Class A		3,063,218		102,220
Cellnex Telecom, SA, non-registered shares		2,406,560		93,677
Bharti Airtel, Ltd.		9,114,000		83,172
Adevinta ASA2		10,055,968		71,311
Walt Disney Company2		642,537		64,337
Take-Two Interactive Software, Inc.2		458,154		54,658
Pinterest, Inc., Class A2		1,012,871		27,621
				6,799,990
Materials 5.30%
Shin-Etsu Chemical Co., Ltd.		21,673,500		702,970
Vale SA (ADR), ordinary nominative shares		35,711,785		563,532
Vale SA, ordinary nominative shares		8,233,381		130,426
Sherwin-Williams Company		3,013,213		677,280
Linde PLC		1,696,079		602,854
Sika AG		1,774,093		497,963
Koninklijke DSM NV		2,949,961		348,664
First Quantum Minerals, Ltd.		15,165,714		348,649
Air Liquide SA, non-registered shares		1,422,175		238,256
Air Liquide SA, bonus shares2		541,455		90,710
Asahi Kasei Corp.		32,006,473		224,469
Albemarle Corp.		978,311		216,246
Mosaic Co.		4,622,518		212,081
Gerdau SA (ADR)		41,243,105		203,329
International Flavors & Fragrances, Inc.		2,025,192		186,237
Corteva, Inc.		2,798,176		168,758
Sociedad Química y Minera de Chile SA, Class B (ADR)3		2,021,770		163,885
Freeport-McMoRan, Inc.		3,993,765		163,385
LANXESS AG		2,785,238		114,274
Grupo México, SAB de CV, Series B		18,140,000		85,898
Nutrien, Ltd. (CAD denominated)3		1,017,209		75,122
Glencore PLC		2,377,300		13,674
Barrick Gold Corp.		725,989		13,482
				6,042,144
Energy 4.22%
Reliance Industries, Ltd.		27,116,480		770,826
TotalEnergies SE		12,487,255		736,783
Cenovus Energy, Inc. (CAD denominated)		38,482,841		671,421
BP PLC		90,322,363		571,826
Schlumberger NV		7,104,994		348,855
ConocoPhillips		3,419,528		339,251
Canadian Natural Resources, Ltd. (CAD denominated)		4,061,038		224,732
Hess Corp.		1,464,587		193,823
TC Energy Corp. (CAD denominated)3		4,895,441		190,421
Baker Hughes Co., Class A		6,560,441		189,334
Equinor ASA		6,323,514		179,836
Aker BP ASA		5,612,219		137,705
Tourmaline Oil Corp.		2,818,783		117,465
Antero Resources Corp.2		4,000,000		92,360
INPEX Corp.		4,743,600		50,472
Gazprom PJSC4		84,876,650		—	5
LUKOIL Oil Co. PJSC4		580,410		—	5
Rosneft Oil Co. PJSC4		40,028,340		—	5
				4,815,110

6 New Perspective Fund

Common stocks (continued)	Shares		Value (000)
Utilities 1.09%
AES Corp.		18,314,876	$	441,022
Sempra Energy		2,665,198		402,871
Engie SA		16,186,148		255,979
Ørsted AS		1,727,389		147,347
				1,247,219
Real estate 0.57%
Equinix, Inc. REIT		456,269		328,988
Goodman Logistics (HK), Ltd. REIT		16,520,815		210,114
American Tower Corp. REIT		315,748		64,520
ESR Group, Ltd.		29,099,000		51,998
				655,620
Total common stocks (cost: $65,549,182,000)				108,155,949
Preferred securities 0.05%
Health care 0.03%
Grifols, SA, Class B, nonvoting non-registered preferred shares2		3,550,453		25,696
Information technology 0.02%
Samsung Electronics Co., Ltd., nonvoting preferred shares		596,200		24,896
Total preferred securities (cost: $67,917,000)				50,592
Rights & warrants 0.00%
Consumer discretionary 0.00%
Compagnie Financière Richemont SA, Class A, warrants, expire 11/22/20232		817,171		1,027
Total rights & warrants (cost: $0)				1,027
Short-term securities 5.23%
Money market investments 4.95%
Capital Group Central Cash Fund 4.86%1,6		56,467,388		5,646,739
Money market investments purchased with collateral from securities on loan 0.28%
Capital Group Central Cash Fund 4.86%1,6,7		596,967		59,697
Goldman Sachs Financial Square Government Fund, Institutional Shares 4.73%6,7		58,400,000		58,400
Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.73%6,7		54,436,144		54,436
Morgan Stanley Institutional Liquidity Funds – Government Portfolio,
Institutional Class 4.73%6,7		38,900,000		38,900
BlackRock Liquidity Funds – FedFund, Institutional Shares 4.72%6,7		35,700,000		35,700
Fidelity Investments Money Market Government Portfolio, Class I 4.72%6,7		25,900,000		25,900
Dreyfus Treasury Obligations Cash Management Fund, Institutional Shares 4.69%6,7		19,400,000		19,400
State Street Institutional U.S. Government Money Market Fund, Premier Class 4.70%6,7		19,400,000		19,400
RBC Funds Trust – U.S. Government Money Market Fund, RBC Institutional Class 1 4.75%6,7		12,900,000		12,900
				324,733
Total short-term securities (cost: $5,970,361,000)				5,971,472
Total investment securities 100.06% (cost: $71,587,460,000)				114,179,040
Other assets less liabilities (0.06)%				(70,257	)
Net assets 100.00%			$	114,108,783

New Perspective Fund 7

Investments in affiliates¹

	Value of affiliates at 10/1/2022 (000)		Additions (000)		Reductions (000)			Net realized gain (000)		Net unrealized appreciation (000)		Value of affiliates at 3/31/2023 (000)		Dividend income (000)
Common stocks 0.54%
Information technology 0.54%
GoDaddy, Inc., Class A2	$	558,982	$	—	$	—		$	—	$	53,943	$	612,925	$	—
Short-term securities 5.00%
Money market investments 4.95%
Capital Group Central Cash Fund 4.86%6		7,524,722		4,227,404		6,106,150			3		760		5,646,739		131,066
Money market investments purchased with collateral from securities on loan 0.05%
Capital Group Central Cash Fund 4.86%6,7		158,028				98,331	8						59,697		—	9
Total short-term securities													5,706,436
Total 5.54%								$	3	$	54,703	$	6,319,361	$	131,066

1	Affiliate of the fund or part of the same “group of investment companies” as the fund, as defined under the Investment Company Act of 1940, as amended.
2	Security did not produce income during the last 12 months.
3	All or a portion of this security was on loan. The total value of all such securities was $411,502,000, which represented .36% of the net assets of the fund. Refer to Note 5 for more information on securities lending.
4	Value determined using significant unobservable inputs.
5	Amount less than one thousand.
6	Rate represents the seven-day yield at 3/31/2023.
7	Security purchased with cash collateral from securities on loan. Refer to Note 5 for more information on securities lending.
8	Represents net activity. Refer to Note 5 for more information on securities lending.
9	Dividend income is included with securities lending income in the fund’s statement of operations and is not shown in this table.

Key to abbreviations

ADR = American Depositary Receipts
CAD = Canadian dollars
CDI = CREST Depository Interest
REIT = Real Estate Investment Trust

Refer to the notes to financial statements.

8 New Perspective Fund

Financial statements

Statement of assets and liabilities at March 31, 2023	unaudited
	(dollars in thousands)

Assets:
Investment securities, at value (includes $411,502 of investment securities on loan):
Unaffiliated issuers (cost: $65,471,355)	$	107,859,679
Affiliated issuers (cost: $6,116,105)		6,319,361		$	114,179,040
Cash					1,151
Cash denominated in currencies other than U.S. dollars (cost: $9,672)					9,672
Receivables for:
Sales of investments		348,106
Sales of fund’s shares		67,010
Dividends and interest		188,350
Other		—	*		603,466
					114,793,329
Liabilities:
Collateral for securities on loan					324,733
Payables for:
Purchases of investments		104,714
Repurchases of fund’s shares		79,824
Investment advisory services		34,501
Services provided by related parties		19,216
Trustees’ deferred compensation		6,040
U.S. and non-U.S. taxes		113,316
Other		2,202			359,813
Net assets at March 31, 2023				$	114,108,783
Net assets consist of:
Capital paid in on shares of beneficial interest				$	67,416,851
Total distributable earnings					46,691,932
Net assets at March 31, 2023				$	114,108,783

* Amount less than one thousand.

Refer to the notes to financial statements.

New Perspective Fund 9

Financial statements (continued)

Statement of assets and liabilities at March 31, 2023 (continued)	unaudited
	(dollars and shares in thousands, except per-share amounts)

Shares of beneficial interest issued and outstanding (no stated par value) —

unlimited shares authorized (2,193,214 total shares outstanding)

	Net assets		Shares outstanding			Net asset value per share
Class A	$	51,561,187		988,685		$	52.15
Class C		1,116,189		22,805			48.94
Class T		13		—	*		52.12
Class F-1		1,389,613		26,845			51.76
Class F-2		14,762,445		284,219			51.94
Class F-3		9,774,978		187,342			52.18
Class 529-A		2,762,812		53,817			51.34
Class 529-C		73,325		1,504			48.75
Class 529-E		84,224		1,663			50.64
Class 529-T		19		—	*		52.10
Class 529-F-1		11		—	*		51.11
Class 529-F-2		252,616		4,850			52.09
Class 529-F-3		12		—	*		52.03
Class R-1		56,785		1,173			48.42
Class R-2		486,089		9,925			48.98
Class R-2E		64,849		1,276			50.81
Class R-3		1,270,339		25,115			50.58
Class R-4		1,749,000		34,132			51.24
Class R-5E		246,696		4,774			51.67
Class R-5		1,248,879		23,962			52.12
Class R-6		27,208,702		521,127			52.21

* Amount less than one thousand.

Refer to the notes to financial statements.

10 New Perspective Fund

Financial statements (continued)

Statement of operations
for the six months ended March 31, 2023 unaudited
(dollars in thousands)

Investment income:
Income:
Dividends (net of non-U.S. taxes of $28,904; also includes $131,066 from affiliates)	$	801,487
Securities lending income (net of fees)		1,988
Interest from unaffiliated issuers		665	$	804,140
Fees and expenses*:
Investment advisory services		198,615
Distribution services		77,382
Transfer agent services		35,167
Administrative services		16,111
529 plan services		902
Reports to shareholders		1,311
Registration statement and prospectus		1,032
Trustees’ compensation		509
Auditing and legal		99
Custodian		9,591
Other		115		340,834
Net investment income				463,306
Net realized gain and unrealized appreciation:
Net realized gain on:
Investments:
Unaffiliated issuers		3,748,931
Affiliated issuers		3
Currency transactions		3,202		3,752,136
Net unrealized appreciation on:
Investments (net of non-U.S. taxes of $48,493):
Unaffiliated issuers		14,766,154
Affiliated issuers		54,703
Currency translations		3,550		14,824,407
Net realized gain and unrealized appreciation				18,576,543
Net increase in net assets resulting from operations			$	19,039,849

* Additional information related to class-specific fees and expenses is included in the notes to financial statements.

Refer to the notes to financial statements.

New Perspective Fund 11

Financial statements (continued)

Statements of changes in net assets
	(dollars in thousands)

	Six months ended March 31, 2023*			Year ended September 30, 2022
Operations:
Net investment income	$	463,306		$	956,763
Net realized gain		3,752,136			4,336,481
Net unrealized appreciation (depreciation)		14,824,407			(42,277,002	)
Net increase (decrease) in net assets resulting from operations		19,039,849			(36,983,758	)
Distributions paid to shareholders		(4,357,039	)		(9,964,566	)
Net capital share transactions		698,260			4,708,538
Total increase (decrease) in net assets		15,381,070			(42,239,786	)
Net assets:
Beginning of period		98,727,713			140,967,499
End of period	$	114,108,783		$	98,727,713

* Unaudited.

Refer to the notes to financial statements.

12 New Perspective Fund

Notes to financial statements unaudited

1. Organization

New Perspective Fund (the “fund”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end, diversified management investment company. The fund seeks to provide long-term growth of capital.

The fund has 21 share classes consisting of six retail share classes (Classes A, C, T, F-1, F-2 and F-3), seven 529 college savings plan share classes (Classes 529-A, 529-C, 529-E, 529-T, 529-F-1, 529-F-2 and 529-F-3) and eight retirement plan share classes (Classes R-1, R-2, R-2E, R-3, R-4, R-5E, R-5 and R-6). The 529 college savings plan share classes can be used to save for college education. The retirement plan share classes are generally offered only through eligible employer-sponsored retirement plans. The fund’s share classes are described further in the following table:

Share class	Initial sales charge	Contingent deferred sales charge upon redemption	Conversion feature
Classes A and 529-A	Up to 5.75% for Class A; up to 3.50% for Class 529-A	None (except 1.00% for certain redemptions within 18 months of purchase without an initial sales charge)	None
Classes C and 529-C	None	1.00% for redemptions within one year of purchase	Class C converts to Class A after eight years and Class 529-C converts to Class 529-A after five years
Class 529-E	None	None	None
Classes T and 529-T*	Up to 2.50%	None	None
Classes F-1, F-2, F-3, 529-F-1, 529-F-2 and 529-F-3	None	None	None
Classes R-1, R-2, R-2E, R-3, R-4, R-5E, R-5 and R-6	None	None	None

* Class T and 529-T shares are not available for purchase.

Holders of all share classes have equal pro rata rights to the assets, dividends and liquidation proceeds of the fund. Each share class has identical voting rights, except for the exclusive right to vote on matters affecting only its class. Share classes have different fees and expenses (“class-specific fees and expenses”), primarily due to different arrangements for distribution, transfer agent and administrative services. Differences in class-specific fees and expenses will result in differences in net investment income and, therefore, the payment of different per-share dividends by each share class.

2. Significant accounting policies

The fund is an investment company that applies the accounting and reporting guidance issued in Topic 946 by the U.S. Financial Accounting Standards Board. The fund’s financial statements have been prepared to comply with U.S. generally accepted accounting principles (“U.S. GAAP”). These principles require the fund’s investment adviser to make estimates and assumptions that affect reported amounts and disclosures. Actual results could differ from those estimates. Subsequent events, if any, have been evaluated through the date of issuance in the preparation of the financial statements. The fund follows the significant accounting policies described in this section, as well as the valuation policies described in the next section on valuation.

Security transactions and related investment income — Security transactions are recorded by the fund as of the date the trades are executed with brokers. Realized gains and losses from security transactions are determined based on the specific identified cost of the securities. In the event a security is purchased with a delayed payment date, the fund will segregate liquid assets sufficient to meet its payment obligations. Dividend income is recognized on the ex-dividend date and interest income is recognized on an accrual basis. Market discounts, premiums and original issue discounts on fixed-income securities are amortized daily over the expected life of the security.

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

Distributions paid to shareholders — Income dividends and capital gain distributions are recorded on the ex-dividend date.

New Perspective Fund 13

Currency translation — Assets and liabilities, including investment securities, denominated in currencies other than U.S. dollars are translated into U.S. dollars at the exchange rates supplied by one or more pricing vendors on the valuation date. Purchases and sales of investment securities and income and expenses are translated into U.S. dollars at the exchange rates on the dates of such transactions. The effects of changes in exchange rates on investment securities are included with the net realized gain or loss and net unrealized appreciation or depreciation on investments in the fund’s statement of operations. The realized gain or loss and unrealized appreciation or depreciation resulting from all other transactions denominated in currencies other than U.S. dollars are disclosed separately.

3. Valuation

Capital Research and Management Company (“CRMC”), the fund’s investment adviser, values the fund’s investments at fair value as defined by U.S. GAAP. The net asset value per share is calculated once daily as of the close of regular trading on the New York Stock Exchange, normally 4 p.m. New York time, each day the New York Stock Exchange is open.

Methods and inputs — The fund’s investment adviser uses the following methods and inputs to establish the fair value of the fund’s assets and liabilities. Use of particular methods and inputs may vary over time based on availability and relevance as market and economic conditions evolve.

Equity securities, including depositary receipts, are generally valued at the official closing price of, or the last reported sale price on, the exchange or market on which such securities are traded, as of the close of business on the day the securities are being valued or, lacking any sales, at the last available bid price. Prices for each security are taken from the principal exchange or market on which the security trades.

Fixed-income securities, including short-term securities, are generally valued at evaluated prices obtained from third-party pricing vendors. Vendors value such securities based on one or more of the inputs described in the following table. The table provides examples of inputs that are commonly relevant for valuing particular classes of fixed-income securities in which the fund is authorized to invest. However, these classifications are not exclusive, and any of the inputs may be used to value any other class of fixed-income security.

Fixed-income class	Examples of standard inputs
All	Benchmark yields, transactions, bids, offers, quotations from dealers and trading systems, new issues, spreads and other relationships observed in the markets among comparable securities; and proprietary pricing models such as yield measures calculated using factors such as cash flows, financial or collateral performance and other reference data (collectively referred to as “standard inputs”)
Corporate bonds, notes & loans; convertible securities	Standard inputs and underlying equity of the issuer
Bonds & notes of governments & government agencies	Standard inputs and interest rate volatilities
Mortgage-backed; asset-backed obligations	Standard inputs and cash flows, prepayment information, default rates, delinquency and loss assumptions, collateral characteristics, credit enhancements and specific deal information

Securities with both fixed-income and equity characteristics, or equity securities traded principally among fixed-income dealers, are generally valued in the manner described for either equity or fixed-income securities, depending on which method is deemed most appropriate by the fund’s investment adviser. The Capital Group Central Cash Fund (“CCF”), a fund within the Capital Group Central Fund Series (“Central Funds”), is valued based upon a floating net asset value, which fluctuates with changes in the value of CCF’s portfolio securities. The underlying securities are valued based on the policies and procedures in CCF’s statement of additional information.

14 New Perspective Fund

Securities and other assets for which representative market quotations are not readily available or are considered unreliable by the fund’s investment adviser are fair valued as determined in good faith under fair valuation guidelines adopted by the fund’s investment adviser and approved by the board of trustees as further described. The investment adviser follows fair valuation guidelines, consistent with U.S. Securities and Exchange Commission rules and guidance, to consider relevant principles and factors when making fair value determinations. The investment adviser considers relevant indications of value that are reasonably and timely available to it in determining the fair value to be assigned to a particular security, such as the type and cost of the security, contractual or legal restrictions on resale of the security, relevant financial or business developments of the issuer, actively traded similar or related securities, dealer or broker quotes, conversion or exchange rights on the security, related corporate actions, significant events occurring after the close of trading in the security, and changes in overall market conditions. In addition, the closing prices of equity securities that trade in markets outside U.S. time zones may be adjusted to reflect significant events that occur after the close of local trading but before the net asset value of each share class of the fund is determined. Fair valuations of investments that are not actively trading involve judgment and may differ materially from valuations that would have been used had greater market activity occurred.

Processes and structure — The fund’s board of trustees has designated the fund’s investment adviser to make fair value determinations, subject to board oversight. The investment adviser has established a Joint Fair Valuation Committee (the “Committee”) to administer, implement and oversee the fair valuation process and to make fair value decisions. The Committee regularly reviews its own fair value decisions, as well as decisions made under its standing instructions to the investment adviser’s valuation team. The Committee reviews changes in fair value measurements from period to period, pricing vendor information and market data, and may, as deemed appropriate, update the fair valuation guidelines to better reflect the results of back testing and address new or evolving issues. Pricing decisions, processes and controls over security valuation are also subject to additional internal reviews facilitated by the investment adviser’s global risk management group. The Committee reports changes to the fair valuation guidelines to the board of trustees. The fund’s board and audit committee also regularly review reports that describe fair value determinations and methods.

Classifications — The fund’s investment adviser classifies the fund’s assets and liabilities into three levels based on the inputs used to value the assets or liabilities. Level 1 values are based on quoted prices in active markets for identical securities. Level 2 values are based on significant observable market inputs, such as quoted prices for similar securities and quoted prices in inactive markets. Certain securities trading outside the U.S. may transfer between Level 1 and Level 2 due to valuation adjustments resulting from significant market movements following the close of local trading. Level 3 values are based on significant unobservable inputs that reflect the investment adviser’s determination of assumptions that market participants might reasonably use in valuing the securities. The valuation levels are not necessarily an indication of the risk or liquidity associated with the underlying investment. For example, U.S. government securities are reflected as Level 2 because the inputs used to determine fair value may not always be quoted prices in an active market. The following table presents the fund’s valuation levels as of March 31, 2023 (dollars in thousands):

	Investment securities
		Level 1		Level 2		Level 3			Total
Assets:
Common stocks:
Information technology	$	14,283,017	$	7,047,966	$	—		$	21,330,983
Health care		13,222,236		6,701,186		—			19,923,422
Consumer discretionary		7,888,646		6,484,715		—			14,373,361
Industrials		6,321,549		6,506,608		—			12,828,157
Financials		7,037,256		5,578,913		—			12,616,169
Consumer staples		3,374,319		4,149,455		—			7,523,774
Communication services		5,710,614		1,089,376		—			6,799,990
Materials		3,811,164		2,230,980		—			6,042,144
Energy		2,367,662		2,447,448		—	*		4,815,110
Utilities		843,893		403,326		—			1,247,219
Real estate		393,508		262,112		—			655,620
Preferred securities		—		50,592		—			50,592
Rights & warrants		1,027		—		—			1,027
Short-term securities		5,971,472		—		—			5,971,472
Total	$	71,226,363	$	42,952,677	$	—	*	$	114,179,040

* Amount less than one thousand.

New Perspective Fund 15

4. Risk factors

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

Market conditions — The prices of, and the income generated by, the securities held by the fund may decline — sometimes rapidly or unpredictably — due to various factors, including events or conditions affecting the general economy or particular industries or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; and currency exchange rate, interest rate and commodity price fluctuations.

Economies and financial markets throughout the world are highly interconnected. Economic, financial or political events, trading and tariff arrangements, wars, terrorism, cybersecurity events, natural disasters, public health emergencies (such as the spread of infectious disease) and other circumstances in one country or region, including actions taken by governmental or quasi-governmental authorities in response to any of the foregoing, could have impacts on global economies or markets. As a result, whether or not the fund invests in securities of issuers located in or with significant exposure to the countries affected, the value and liquidity of the fund’s investments may be negatively affected by developments in other countries and regions.

Issuer risks — The prices of, and the income generated by, securities held by the fund may decline in response to various factors directly related to the issuers of such securities, including reduced demand for an issuer’s goods or services, poor management performance, major litigation, investigations or other controversies related to the issuer, changes in financial condition or credit rating, changes in government regulations affecting the issuer or its competitive environment and strategic initiatives such as mergers, acquisitions or dispositions and the market response to any such initiatives.

Investing in growth-oriented stocks — Growth-oriented common stocks and other equity-type securities (such as preferred stocks, convertible preferred stocks and convertible bonds) may involve larger price swings and greater potential for loss than other types of investments.

Investing outside the U.S. — Securities of issuers domiciled outside the U.S., or with significant operations or revenues outside the U.S., may lose value because of adverse political, social, economic or market developments (including social instability, regional conflicts, terrorism and war) in the countries or regions in which the issuers operate or generate revenue. These securities may also lose value due to changes in foreign currency exchange rates against the U.S. dollar and/or currencies of other countries. Issuers of these securities may be more susceptible to actions of foreign governments, such as nationalization, currency blockage or the imposition of price controls, sanctions, or punitive taxes, each of which could adversely impact the value of these securities. Securities markets in certain countries may be more volatile and/or less liquid than those in the U.S. Investments outside the U.S. may also be subject to different regulatory, legal, accounting, auditing, financial reporting and recordkeeping requirements, and may be more difficult to value, than those in the U.S. In addition, the value of investments outside the U.S. may be reduced by foreign taxes, including foreign withholding taxes on interest and dividends. Further, there may be increased risks of delayed settlement of securities purchased or sold by the fund, which could impact the liquidity of the fund’s portfolio. The risks of investing outside the U.S. may be heightened in connection with investments in emerging markets.

Management — The investment adviser to the fund actively manages the fund’s investments. Consequently, the fund is subject to the risk that the methods and analyses, including models, tools and data, employed by the investment adviser in this process may be flawed or incorrect and may not produce the desired results. This could cause the fund to lose value or its investment results to lag relevant benchmarks or other funds with similar objectives.

5. Certain investment techniques

Securities lending — The fund has entered into securities lending transactions in which the fund earns income by lending investment securities to brokers, dealers or other institutions. Each transaction involves three parties: the fund, acting as the lender of the securities, a borrower, and a lending agent that acts as an intermediary.

Securities lending transactions are entered into by the fund under a securities lending agent agreement with the lending agent. The lending agent facilitates the exchange of securities between the fund and approved borrowers, ensures that securities loans are properly coordinated and documented, marks-to-market the value of collateral daily, secures additional collateral from a borrower if it falls below preset terms, and may reinvest cash collateral on behalf of the fund according to agreed parameters. The lending agent provides indemnification to the fund against losses resulting from a borrower default. Although risk is mitigated by the collateral and indemnification, the fund could experience a delay in recovering its securities and a potential loss of income or value if a borrower fails to return securities, collateral investments decline in value or the lending agent fails to perform.

16 New Perspective Fund

The borrower is required to post highly liquid assets, such as cash or U.S. government securities, as collateral for the loan in an amount at least equal to the value of the securities loaned. Investments made with cash collateral are recognized as assets in the fund’s investment portfolio. The same amount is recorded as a liability in the fund’s statement of assets and liabilities. While securities are on loan, the fund will continue to receive the equivalent of the interest, dividends or other distributions paid by the issuer, as well as a portion of the interest on the investment of the collateral. Additionally, although the fund does not have the right to vote on securities while they are on loan, the fund has a right to consent on corporate actions and a right to recall loaned securities to vote. A borrower is obligated to return loaned securities at the conclusion of a loan or, during the pendency of a loan, on demand from the fund.

As of March 31, 2023, the total value of securities on loan was $411,502,000, and the total value of collateral received was $431,098,000. Collateral received includes cash of $324,733,000 and U.S. government securities of $106,365,000. Investment securities purchased from cash collateral are disclosed in the fund’s investment portfolio as short-term securities. Securities received as collateral are not recognized as fund assets. The contractual maturity of cash collateral received under the securities lending agreement is classified as overnight and continuous.

For securities lending, the fund receives collateral in exchange for lending investment securities. The lending agent may reinvest cash collateral from securities lending transactions according to agreed parameters. Cash collateral reinvested by the lending agent, if any, is disclosed in the fund’s investment portfolio.

6. Taxation and distributions

Federal income taxation — The fund complies with the requirements under Subchapter M of the Internal Revenue Code applicable to regulated investment companies and intends to distribute substantially all of its net taxable income and net capital gains each year. The fund is not subject to income taxes to the extent such distributions are made. Therefore, no federal income tax provision is required.

As of and during the period ended March 31, 2023, the fund did not have a liability for any unrecognized tax benefits. The fund recognizes interest and penalties, if any, related to unrecognized tax benefits as income tax expense in the statement of operations. During the period, the fund did not incur any significant interest or penalties.

The fund’s tax returns are generally not subject to examination by federal, state and, if applicable, non-U.S. tax authorities after the expiration of each jurisdiction’s statute of limitations, which is typically three years after the date of filing but can be extended in certain jurisdictions.

Non-U.S. taxation — Dividend and interest income are recorded net of non-U.S. taxes paid. The fund may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. As a result of rulings from European courts, the fund filed for additional reclaims related to prior years. These reclaims are recorded when the amount is known and there are no significant uncertainties on collectability. During the six months ended March 31, 2023, the fund recognized $272,000 in reclaims (net of the effect of realized gain or loss from currency translations) and $12,000 in interest related to European court rulings, which is included in dividend income and interest income, respectively, in the fund’s statement of operations. Gains realized by the fund on the sale of securities in certain countries, if any, may be subject to non-U.S. taxes. If applicable, the fund records an estimated deferred tax liability based on unrealized gains to provide for potential non-U.S. taxes payable upon the sale of these securities.

Distributions — Distributions determined on a tax basis may differ from net investment income and net realized gains for financial reporting purposes. These differences are due primarily to different treatment for items such as currency gains and losses; short-term capital gains and losses; capital losses related to sales of certain securities within 30 days of purchase; cost of investments sold and income on certain investments. The fiscal year in which amounts are distributed may differ from the year in which the net investment income and net realized gains are recorded by the fund for financial reporting purposes.

The components of distributable earnings on a tax basis are reported as of the fund’s most recent year-end. As of September 30, 2022, the components of distributable earnings on a tax basis were as follows (dollars in thousands):

Undistributed ordinary income	$	823,352
Undistributed long-term capital gains		3,373,790

New Perspective Fund 17

As of March 31, 2023, the tax basis unrealized appreciation (depreciation) and cost of investments were as follows (dollars in thousands):

Gross unrealized appreciation on investments	$	45,726,349
Gross unrealized depreciation on investments		(3,251,104	)
Net unrealized appreciation on investments		42,475,245
Cost of investments		71,703,795

Distributions paid were characterized for tax purposes as follows (dollars in thousands):

	Six months ended March 31, 2023									Year ended September 30, 2022
Share class	Ordinary income			Long-term capital gains			Total distributions paid			Ordinary income			Long-term capital gains		Total distributions paid
Class A	$	383,941		$	1,525,250		$	1,909,191		$	212,420		$	4,260,431	$	4,472,851
Class C		—			36,501			36,501			—			113,317		113,317
Class T		—	*		—	*		—	*		—	*		1		1
Class F-1		9,649			41,956			51,605			4,611			123,163		127,774
Class F-2		142,815			441,703			584,518			104,361			1,280,310		1,384,671
Class F-3		104,143			286,540			390,683			72,932			753,086		826,018
Class 529-A		20,038			82,753			102,791			10,151			227,774		237,925
Class 529-C		—			2,423			2,423			—			8,087		8,087
Class 529-E		419			2,594			3,013			61			7,447		7,508
Class 529-T		—	*		1			1			—	*		1		1
Class 529-F-1		—	*		—	*		—	*		—	*		1		1
Class 529-F-2		2,388			7,200			9,588			1,401			17,623		19,024
Class 529-F-3		—	*		—	*		—	*		—	*		1		1
Class R-1		33			1,844			1,877			—			5,258		5,258
Class R-2		—			15,442			15,442			—			45,072		45,072
Class R-2E		180			1,940			2,120			—			5,132		5,132
Class R-3		5,162			39,350			44,512			—			118,689		118,689
Class R-4		12,684			54,137			66,821			7,215			167,504		174,719
Class R-5E		2,140			7,081			9,221			1,755			23,331		25,086
Class R-5		15,766			45,874			61,640			12,060			135,522		147,582
Class R-6		283,991			781,101			1,065,092			197,997			2,047,852		2,245,849
Total	$	983,349		$	3,373,690		$	4,357,039		$	624,964		$	9,339,602	$	9,964,566

* Amount less than one thousand.

7. Fees and transactions with related parties

CRMC, the fund’s investment adviser, is the parent company of American Funds Distributors^®, Inc. (“AFD”), the principal underwriter of the fund’s shares, and American Funds Service Company^® (“AFS”), the fund’s transfer agent. CRMC, AFD and AFS are considered related parties to the fund.

Investment advisory services — The fund has an investment advisory and service agreement with CRMC that provides for monthly fees accrued daily. These fees are based on a series of decreasing annual rates beginning with 0.600% on the first $500 million of daily net assets and decreasing to 0.348% on such assets in excess of $144 billion. For the six months ended March 31, 2023, the investment advisory services fees were $198,615,000, which were equivalent to an annualized rate of 0.370% of average daily net assets.

18 New Perspective Fund

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

Distribution services — The fund has plans of distribution for all share classes, except Class F-2, F-3, 529-F-2, 529-F-3, R-5E, R-5 and R-6 shares. Under the plans, the board of trustees approves certain categories of expenses that are used to finance activities primarily intended to sell fund shares and service existing accounts. The plans provide for payments, based on an annualized percentage of average daily net assets, ranging from 0.25% to 1.00% as noted in this section. In some cases, the board of trustees has limited the amounts that may be paid to less than the maximum allowed by the plans. All share classes with a plan may use up to 0.25% of average daily net assets to pay service fees, or to compensate AFD for paying service fees, to firms that have entered into agreements with AFD to provide certain shareholder services. The remaining amounts available to be paid under each plan are paid to dealers to compensate them for their sales activities.

Share class	Currently approved limits			Plan limits
Class A		0.25	%		0.25	%
Class 529-A		0.25			0.50
Classes C, 529-C and R-1		1.00			1.00
Class R-2		0.75			1.00
Class R-2E		0.60			0.85
Classes 529-E and R-3		0.50			0.75
Classes T, F-1, 529-T, 529-F-1 and R-4		0.25			0.50

For Class A and 529-A shares, distribution-related expenses include the reimbursement of dealer and wholesaler commissions paid by AFD for certain shares sold without a sales charge. These share classes reimburse AFD for amounts billed within the prior 15 months but only to the extent that the overall annual expense limits are not exceeded. As of March 31, 2023, there were no unreimbursed expenses subject to reimbursement for Class A or 529-A shares.

Transfer agent services — The fund has a shareholder services agreement with AFS under which the fund compensates AFS for providing transfer agent services to each of the fund’s share classes. These services include recordkeeping, shareholder communications and transaction processing. In addition, the fund reimburses AFS for amounts paid to third parties for performing transfer agent services on behalf of fund shareholders.

Administrative services — The fund has an administrative services agreement with CRMC under which the fund compensates CRMC for providing administrative services to all share classes. Administrative services are provided by CRMC and its affiliates to help assist third parties providing non-distribution services to fund shareholders. These services include providing in-depth information on the fund and market developments that impact fund investments. Administrative services also include, but are not limited to, coordinating, monitoring and overseeing third parties that provide services to fund shareholders. The agreement provides the fund the ability to charge an administrative services fee at the annual rate of 0.05% of the average daily net assets attributable to each share class of the fund. Currently the fund pays CRMC an administrative services fee at the annual rate of 0.03% of the average daily net assets attributable to each share class of the fund for CRMC’s provision of administrative services.

529 plan services — Each 529 share class is subject to service fees to compensate the Virginia College Savings Plan (“Virginia529”) for its oversight and administration of the CollegeAmerica 529 college savings plan. The fees are based on the combined net assets invested in Class 529 and ABLE shares of the American Funds. Class ABLE shares are offered on other American Funds by Virginia529 through ABLEAmerica^®, a tax-advantaged savings program for individuals with disabilities. Virginia529 is not considered a related party to the fund.

The quarterly fees are based on a series of decreasing annual rates beginning with 0.09% on the first $20 billion of the combined net assets invested in the American Funds and decreasing to 0.03% on such assets in excess of $75 billion. The fees for any given calendar quarter are accrued and calculated on the basis of the average net assets of Class 529 and ABLE shares of the American Funds for the last month of the prior calendar quarter. For the six months ended March 31, 2023, the 529 plan services fees were $902,000, which were equivalent to 0.061% of the average daily net assets of each 529 share class.

New Perspective Fund 19

For the six months ended March 31, 2023, class-specific expenses under the agreements were as follows (dollars in thousands):

Share class	Distribution services		Transfer agent services			Administrative services			529 plan services
Class A		$59,407		$21,734			$7,292		Not applicable
Class C		5,426		486			163		Not applicable
Class T		—		—	*		—	*	Not applicable
Class F-1		1,622		856			199		Not applicable
Class F-2		Not applicable		7,496			2,107		Not applicable
Class F-3		Not applicable		56			1,374		Not applicable
Class 529-A		3,041		1,062			389		$786
Class 529-C		361		30			11		22
Class 529-E		200		18			12		24
Class 529-T		—		—	*		—	*	—	*
Class 529-F-1		—		—	*		—	*	—	*
Class 529-F-2		Not applicable		33			35		70
Class 529-F-3		Not applicable		—	*		—	*	—	*
Class R-1		267		25			8		Not applicable
Class R-2		1,722		809			69		Not applicable
Class R-2E		181		62			9		Not applicable
Class R-3		3,040		940			182		Not applicable
Class R-4		2,115		871			254		Not applicable
Class R-5E		Not applicable		176			34		Not applicable
Class R-5		Not applicable		359			200		Not applicable
Class R-6		Not applicable		154			3,773		Not applicable
Total class-specific expenses		$77,382		$35,167			$16,111		$902

* Amount less than one thousand.

Trustees’ deferred compensation — Trustees who are unaffiliated with CRMC may elect to defer the cash payment of part or all of their compensation. These deferred amounts, which remain as liabilities of the fund, are treated as if invested in shares of the fund or other American Funds. These amounts represent general, unsecured liabilities of the fund and vary according to the total returns of the selected funds. Trustees’ compensation of $509,000 in the fund’s statement of operations reflects $269,000 in current fees (either paid in cash or deferred) and a net increase of $240,000 in the value of the deferred amounts.

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

Investment in CCF — The fund holds shares of CCF, an institutional prime money market fund managed by CRMC. CCF invests in high-quality, short-term money market instruments. CCF is used as the primary investment vehicle for the fund’s short-term instruments. CCF shares are only available for purchase by CRMC, its affiliates, and other funds managed by CRMC or its affiliates, and are not available to the public. CRMC does not receive an investment advisory services fee from CCF.

Security transactions with related funds — The fund purchased investment securities from, and sold investment securities to, other funds managed by CRMC (or funds managed by certain affiliates of CRMC) under procedures adopted by the fund’s board of trustees. The funds involved in such transactions are considered related by virtue of having a common investment adviser (or affiliated investment advisers), common trustees and/or common officers. Each transaction was executed at the current market price of the security and no brokerage commissions or fees were paid in accordance with Rule 17a-7 of the 1940 Act. During the six months ended March 31, 2023, the fund engaged in such purchase and sale transactions with related funds in the amounts of $223,511,000 and $132,026,000, respectively, which generated $55,225,000 of net realized gains from such sales.

Interfund lending — Pursuant to an exemptive order issued by the SEC, the fund, along with other CRMC-managed funds (or funds managed by certain affiliates of CRMC), may participate in an interfund lending program. The program provides an alternate credit facility that permits the funds to lend or borrow cash for temporary purposes directly to or from one another, subject to the conditions of the exemptive order. The fund did not lend or borrow cash through the interfund lending program at any time during the six months ended March 31, 2023.

20 New Perspective Fund

8. Indemnifications

The fund’s organizational documents provide board members and officers with indemnification against certain liabilities or expenses in connection with the performance of their duties to the fund. In the normal course of business, the fund may also enter into contracts that provide general indemnifications. The fund’s maximum exposure under these arrangements is unknown since it is dependent on future claims that may be made against the fund. The risk of material loss from such claims is considered remote. Insurance policies are also available to the fund’s board members and officers.

9. Capital share transactions

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

					Reinvestments of												Net increase
	Sales*				distributions						Repurchases*						(decrease)
Share class	Amount		Shares		Amount			Shares			Amount			Shares			Amount			Shares
Six months ended March 31, 2023
Class A	$	1,083,844		21,980	$	1,863,280			38,730		$	(2,872,714	)		(58,459	)	$	74,410			2,251
Class C		51,641		1,118		36,250			801			(149,980	)		(3,241	)		(62,089	)		(1,322	)
Class T		—		—		—			—			—			—			—			—
Class F-1		46,940		962		51,111			1,070			(131,245	)		(2,684	)		(33,194	)		(652	)
Class F-2		1,227,557		24,985		555,496			11,599			(2,184,527	)		(44,620	)		(401,474	)		(8,036	)
Class F-3		1,020,619		20,931		387,145			8,050			(1,223,908	)		(24,990	)		183,856			3,991
Class 529-A		95,031		1,955		102,770			2,170			(162,446	)		(3,346	)		35,355			779
Class 529-C		6,192		134		2,423			54			(15,055	)		(326	)		(6,440	)		(138	)
Class 529-E		2,714		57		3,013			64			(6,376	)		(134	)		(649	)		(13	)
Class 529-T		—		—		1			—	†		—			—			1			—	†
Class 529-F-1		—		—		—	†		—	†		—			—			—	†		—	†
Class 529-F-2		22,584		460		9,587			200			(15,987	)		(325	)		16,184			335
Class 529-F-3		—		—		—	†		—	†		—			—			—	†		—	†
Class R-1		2,932		64		1,856			42			(5,489	)		(120	)		(701	)		(14	)
Class R-2		35,055		757		15,434			341			(54,899	)		(1,195	)		(4,410	)		(97	)
Class R-2E		6,365		134		2,120			45			(7,162	)		(150	)		1,323			29
Class R-3		94,645		1,979		44,460			952			(191,342	)		(4,009	)		(52,237	)		(1,078	)
Class R-4		85,129		1,749		66,492			1,407			(220,658	)		(4,569	)		(69,037	)		(1,413	)
Class R-5E		23,552		486		9,222			193			(22,161	)		(456	)		10,613			223
Class R-5		50,951		1,037		61,558			1,281			(415,858	)		(8,704	)		(303,349	)		(6,386	)
Class R-6		1,740,212		35,718		1,060,341			22,035			(1,490,455	)		(30,130	)		1,310,098			27,623
Total net increase (decrease)	$	5,595,963		114,506	$	4,272,559			89,034		$	(9,170,262	)		(187,458	)	$	698,260			16,082

Refer to the end of the table for footnotes.

New Perspective Fund 21

	Sales*				Reinvestments of distributions					Repurchases*						Net increase (decrease)
Share class	Amount		Shares		Amount		Shares			Amount			Shares			Amount			Shares
Year ended September 30, 2022
Class A	$	3,095,317		52,679	$	4,369,044		67,979		$	(5,944,839	)		(102,528	)	$	1,519,522			18,130
Class C		155,349		2,800		112,508		1,858			(364,174	)		(6,709	)		(96,317	)		(2,051	)
Class T		—		—		—		—			—			—			—			—
Class F-1		161,053		2,764		126,426		1,982			(296,575	)		(5,215	)		(9,096	)		(469	)
Class F-2		3,661,017		63,378		1,318,970		20,612			(4,429,575	)		(78,610	)		550,412			5,380
Class F-3		2,240,510		38,735		818,463		12,737			(2,110,526	)		(36,968	)		948,447			14,504
Class 529-A		261,941		4,516		237,893		3,757			(389,605	)		(6,849	)		110,229			1,424
Class 529-C		16,246		297		8,087		134			(39,760	)		(722	)		(15,427	)		(291	)
Class 529-E		7,650		133		7,507		120			(15,468	)		(271	)		(311	)		(18	)
Class 529-T		—		—		2		—	†		—			—			2			—	†
Class 529-F-1		—		—		1		—	†		—			—			1			—	†
Class 529-F-2		50,274		857		19,021		296			(31,463	)		(540	)		37,832			613
Class 529-F-3		—		—		1		—	†		—			—			1			—	†
Class R-1		8,666		163		5,200		87			(16,125	)		(289	)		(2,259	)		(39	)
Class R-2		85,104		1,551		45,011		742			(156,847	)		(2,784	)		(26,732	)		(491	)
Class R-2E		16,066		281		5,132		82			(18,738	)		(323	)		2,460			40
Class R-3		226,377		3,949		118,563		1,899			(396,613	)		(6,953	)		(51,673	)		(1,105	)
Class R-4		231,797		4,009		174,708		2,765			(560,810	)		(9,949	)		(154,305	)		(3,175	)
Class R-5E		104,801		1,803		25,086		394			(180,238	)		(3,081	)		(50,351	)		(884	)
Class R-5		219,563		3,683		147,451		2,297			(374,646	)		(6,497	)		(7,632	)		(517	)
Class R-6		4,135,453		73,292		2,237,982		34,800			(4,419,700	)		(76,696	)		1,953,735			31,396
Total net increase (decrease)	$	14,677,184		254,890	$	9,777,056		152,541		$	(19,745,702	)		(344,984	)	$	4,708,538			62,447

*	Includes exchanges between share classes of the fund.
†	Amount less than one thousand.

10. Investment transactions

The fund engaged in purchases and sales of investment securities, excluding short-term securities and U.S. government obligations, if any, of $8,843,731,000 and $10,431,217,000, respectively, during the six months ended March 31, 2023.

22 New Perspective Fund

Financial highlights

			Income (loss) from investment operations1									Dividends and distributions
Year ended	Net asset value, beginning of year		Net investment income (loss)			Net gains (losses) on securities (both realized and unrealized)			Total from investment operations			Dividends (from net investment income)			Distributions (from capital gains)			Total dividends and distributions			Net asset value, end of year		Total return2,3			Net assets, end of year (in millions)			Ratio of expenses to average net assets before reimburse- ments4			Ratio of expenses to average net assets after reimburse- ments3,4			Ratio of net income (loss) to average net assets3
Class A:
3/31/20235,6	$	45.43	$	.18		$	8.51		$	8.69		$	(.40	)	$	(1.57	)	$	(1.97	)	$	52.15		19.49	%7	$	51,561			.76	%8		.76	%8		.74	%8
9/30/2022		66.78		.38			(17.08	)		(16.70	)		(.22	)		(4.43	)		(4.65	)		45.43		(27.04	)		44,810			.72			.72			.65
9/30/2021		53.81		.32			15.15			15.47			(.08	)		(2.42	)		(2.50	)		66.78		29.31			64,660			.72			.72			.50
9/30/2020		44.52		.27			10.76			11.03			(.48	)		(1.26	)		(1.74	)		53.81		25.33			50,986			.75			.75			.57
9/30/2019		46.89		.37			.12			.49			(.45	)		(2.41	)		(2.86	)		44.52		2.55			42,567			.75			.75			.85
9/30/2018		43.54		.38			5.34			5.72			(.19	)		(2.18	)		(2.37	)		46.89		13.48			43,958			.74			.74			.85
Class C:
3/31/20235,6		42.54		(.01	)		7.98			7.97			—			(1.57	)		(1.57	)		48.94		19.07	7		1,116			1.51	8		1.51	8		(.02	)8
9/30/2022		63.06		(.07	)		(16.02	)		(16.09	)		—			(4.43	)		(4.43	)		42.54		(27.60	)		1,026			1.47			1.47			(.12	)
9/30/2021		51.23		(.15	)		14.40			14.25			—			(2.42	)		(2.42	)		63.06		28.36			1,651			1.47			1.47			(.25	)
9/30/2020		42.46		(.08	)		10.25			10.17			(.14	)		(1.26	)		(1.40	)		51.23		24.39			1,395			1.49			1.49			(.18	)
9/30/2019		44.80		.03			.14			.17			(.10	)		(2.41	)		(2.51	)		42.46		1.76			1,442			1.52			1.52			.07
9/30/2018		41.82		.02			5.14			5.16			—			(2.18	)		(2.18	)		44.80		12.62			1,576			1.53			1.53			.06
Class T:
3/31/20235,6		45.46		.25			8.51			8.76			(.53	)		(1.57	)		(2.10	)		52.12		19.67	7,9		—	10		.49	8,9		.49	8,9		1.01	8,9
9/30/2022		66.82		.51			(17.07	)		(16.56	)		(.37	)		(4.43	)		(4.80	)		45.46		(26.87	)9		—	10		.48	9		.48	9		.88	9
9/30/2021		53.83		.46			15.15			15.61			(.20	)		(2.42	)		(2.62	)		66.82		29.60	9		—	10		.50	9		.50	9		.73	9
9/30/2020		44.53		.38			10.76			11.14			(.58	)		(1.26	)		(1.84	)		53.83		25.62	9		—	10		.50	9		.50	9		.82	9
9/30/2019		46.91		.46			.11			.57			(.54	)		(2.41	)		(2.95	)		44.53		2.80	9		—	10		.53	9		.53	9		1.07	9
9/30/2018		43.57		.47			5.34			5.81			(.29	)		(2.18	)		(2.47	)		46.91		13.71	9		—	10		.53	9		.53	9		1.04	9
Class F-1:
3/31/20235,6		45.08		.17			8.44			8.61			(.36	)		(1.57	)		(1.93	)		51.76		19.49	7		1,390			.80	8		.80	8		.70	8
9/30/2022		66.29		.34			(16.95	)		(16.61	)		(.17	)		(4.43	)		(4.60	)		45.08		(27.10	)		1,239			.77			.77			.58
9/30/2021		53.43		.27			15.06			15.33			(.05	)		(2.42	)		(2.47	)		66.29		29.24			1,854			.78			.78			.43
9/30/2020		44.21		.24			10.69			10.93			(.45	)		(1.26	)		(1.71	)		53.43		25.27			1,804			.79			.79			.52
9/30/2019		46.57		.33			.12			.45			(.40	)		(2.41	)		(2.81	)		44.21		2.47			1,677			.82			.82			.78
9/30/2018		43.26		.36			5.30			5.66			(.17	)		(2.18	)		(2.35	)		46.57		13.40			1,795			.81			.81			.79
Class F-2:
3/31/20235,6		45.30		.24			8.48			8.72			(.51	)		(1.57	)		(2.08	)		51.94		19.64	7		14,762			.53	8		.53	8		.96	8
9/30/2022		66.61		.49			(17.01	)		(16.52	)		(.36	)		(4.43	)		(4.79	)		45.30		(26.90	)		13,240			.51			.51			.85
9/30/2021		53.67		.45			15.10			15.55			(.19	)		(2.42	)		(2.61	)		66.61		29.60			19,110			.51			.51			.72
9/30/2020		44.40		.38			10.73			11.11			(.58	)		(1.26	)		(1.84	)		53.67		25.61			14,016			.53			.53			.80
9/30/2019		46.81		.46			.09			.55			(.55	)		(2.41	)		(2.96	)		44.40		2.74			10,234			.54			.54			1.07
9/30/2018		43.47		.47			5.33			5.80			(.28	)		(2.18	)		(2.46	)		46.81		13.71			8,560			.54			.54			1.05
Class F-3:
3/31/20235,6		45.53		.26			8.53			8.79			(.57	)		(1.57	)		(2.14	)		52.18		19.72	7		9,775			.42	8		.42	8		1.07	8
9/30/2022		66.93		.56			(17.10	)		(16.54	)		(.43	)		(4.43	)		(4.86	)		45.53		(26.83	)		8,349			.41			.41			.96
9/30/2021		53.90		.53			15.16			15.69			(.24	)		(2.42	)		(2.66	)		66.93		29.72			11,301			.41			.41			.83
9/30/2020		44.58		.43			10.77			11.20			(.62	)		(1.26	)		(1.88	)		53.90		25.74			7,784			.42			.42			.91
9/30/2019		46.98		.51			.08			.59			(.58	)		(2.41	)		(2.99	)		44.58		2.85			5,324			.44			.44			1.18
9/30/2018		43.63		.52			5.34			5.86			(.33	)		(2.18	)		(2.51	)		46.98		13.81			4,260			.45			.45			1.16
Class 529-A:
3/31/20235,6		44.74		.17			8.38			8.55			(.38	)		(1.57	)		(1.95	)		51.34		19.48	7		2,763			.80	8		.80	8		.70	8
9/30/2022		65.84		.35			(16.82	)		(16.47	)		(.20	)		(4.43	)		(4.63	)		44.74		(27.08	)		2,373			.75			.75			.61
9/30/2021		53.09		.29			14.94			15.23			(.06	)		(2.42	)		(2.48	)		65.84		29.26			3,398			.76			.76			.46
9/30/2020		43.94		.25			10.61			10.86			(.45	)		(1.26	)		(1.71	)		53.09		25.27			2,696			.79			.79			.53
9/30/2019		46.31		.33			.12			.45			(.41	)		(2.41	)		(2.82	)		43.94		2.47			2,163			.82			.82			.78
9/30/2018		43.05		.35			5.27			5.62			(.18	)		(2.18	)		(2.36	)		46.31		13.41			2,227			.82			.82			.78

Refer to the end of the table for footnotes.

New Perspective Fund 23

Financial highlights (continued)

			Income (loss) from investment operations1									Dividends and distributions
Year ended	Net asset value, beginning of year		Net investment income (loss)			Net gains (losses) on securities (both realized and unrealized)			Total from investment operations			Dividends (from net investment income)			Distributions (from capital gains)			Total dividends and distributions			Net asset value, end of year		Total return2,3			Net assets, end of year (in millions)			Ratio of expenses to average net assets before reimburse- ments4			Ratio of expenses to average net assets after reimburse- ments3,4			Ratio of net income (loss) to average net assets3
Class 529-C:
3/31/20235,6	$	42.39	$	(.02	)	$	7.95		$	7.93		$	—		$	(1.57	)	$	(1.57	)	$	48.75		19.04	%7	$	73			1.57	%8		1.57	%8		(.08	)%8
9/30/2022		62.88		(.10	)		(15.96	)		(16.06	)		—			(4.43	)		(4.43	)		42.39		(27.65	)		70			1.52			1.52			(.19	)
9/30/2021		51.12		(.18	)		14.36			14.18			—			(2.42	)		(2.42	)		62.88		28.30			121			1.52			1.52			(.30	)
9/30/2020		42.35		(.11	)		10.24			10.13			(.10	)		(1.26	)		(1.36	)		51.12		24.35			119			1.54			1.54			(.24	)
9/30/2019		44.66		.01			.15			.16			(.06	)		(2.41	)		(2.47	)		42.35		1.71			240			1.57			1.57			.02
9/30/2018		41.72		(.01	)		5.13			5.12			—			(2.18	)		(2.18	)		44.66		12.54			286			1.58			1.58			(.03	)
Class 529-E:
3/31/20235,6		44.09		.11			8.26			8.37			(.25	)		(1.57	)		(1.82	)		50.64		19.34	7		84			1.03	8		1.03	8		.47	8
9/30/2022		64.94		.20			(16.58	)		(16.38	)		(.04	)		(4.43	)		(4.47	)		44.09		(27.25	)		74			.99			.99			.36
9/30/2021		52.46		.14			14.76			14.90			—			(2.42	)		(2.42	)		64.94		28.94			110			1.00			1.00			.23
9/30/2020		43.44		.14			10.49			10.63			(.35	)		(1.26	)		(1.61	)		52.46		24.99			91			1.01			1.01			.30
9/30/2019		45.79		.23			.14			.37			(.31	)		(2.41	)		(2.72	)		43.44		2.24			82			1.04			1.04			.55
9/30/2018		42.58		.24			5.22			5.46			(.07	)		(2.18	)		(2.25	)		45.79		13.15			89			1.05			1.05			.55
Class 529-T:
3/31/20235,6		45.43		.23			8.52			8.75			(.51	)		(1.57	)		(2.08	)		52.10		19.65	7,9		—	10		.54	8,9		.54	8,9		.96	8,9
9/30/2022		66.78		.49			(17.07	)		(16.58	)		(.34	)		(4.43	)		(4.77	)		45.43		(26.91	)9		—	10		.53	9		.53	9		.84	9
9/30/2021		53.80		.43			15.14			15.57			(.17	)		(2.42	)		(2.59	)		66.78		29.53	9		—	10		.55	9		.55	9		.68	9
9/30/2020		44.51		.36			10.75			11.11			(.56	)		(1.26	)		(1.82	)		53.80		25.55	9		—	10		.56	9		.56	9		.77	9
9/30/2019		46.89		.44			.11			.55			(.52	)		(2.41	)		(2.93	)		44.51		2.73	9		—	10		.57	9		.57	9		1.03	9
9/30/2018		43.56		.45			5.34			5.79			(.28	)		(2.18	)		(2.46	)		46.89		13.65	9		—	10		.59	9		.59	9		.99	9
Class 529-F-1:
3/31/20235,6		44.59		.21			8.35			8.56			(.47	)		(1.57	)		(2.04	)		51.11		19.59	7,9		—	10		.61	8,9		.61	8,9		.89	8,9
9/30/2022		65.65		.44			(16.75	)		(16.31	)		(.32	)		(4.43	)		(4.75	)		44.59		(26.96	)9		—	10		.60	9		.60	9		.77	9
9/30/2021		52.99		(.02	)		15.34			15.32			(.24	)		(2.42	)		(2.66	)		65.65		29.51	9		—	10		.51	9		.51	9		(.04	)9
9/30/2020		43.86		.35			10.60			10.95			(.56	)		(1.26	)		(1.82	)		52.99		25.55			180			.56			.56			.76
9/30/2019		46.28		.43			.09			.52			(.53	)		(2.41	)		(2.94	)		43.86		2.72			142			.59			.59			1.03
9/30/2018		43.00		.45			5.27			5.72			(.26	)		(2.18	)		(2.44	)		46.28		13.67			119			.59			.59			1.00
Class 529-F-2:
3/31/20235,6		45.44		.24			8.50			8.74			(.52	)		(1.57	)		(2.09	)		52.09		19.66	7		253			.51	8		.51	8		.99	8
9/30/2022		66.78		.50			(17.06	)		(16.56	)		(.35	)		(4.43	)		(4.78	)		45.44		(26.91	)		205			.51			.51			.87
9/30/20215,11		52.26		.44			16.68			17.12			(.18	)		(2.42	)		(2.60	)		66.78		33.39	7		260			.54	8		.54	8		.75	8
Class 529-F-3:
3/31/20235,6		45.40		.25			8.49			8.74			(.54	)		(1.57	)		(2.11	)		52.03		19.64	7		—	10		.49	8		.49	8		1.01	8
9/30/2022		66.74		.52			(17.04	)		(16.52	)		(.39	)		(4.43	)		(4.82	)		45.40		(26.85	)		—	10		.46			.46			.90
9/30/20215,11		52.26		.48			16.67			17.15			(.25	)		(2.42	)		(2.67	)		66.74		33.44	7		—	10		.52	8		.47	8		.82	8
Class R-1:
3/31/20235,6		42.12		—	12		7.90			7.90			(.03	)		(1.57	)		(1.60	)		48.42		19.07	7		57			1.50	8		1.50	8		(.01	)8
9/30/2022		62.49		(.07	)		(15.87	)		(15.94	)		—			(4.43	)		(4.43	)		42.12		(27.61	)		50			1.49			1.49			(.13	)
9/30/2021		50.81		(.17	)		14.27			14.10			—			(2.42	)		(2.42	)		62.49		28.29			77			1.50			1.50			(.28	)
9/30/2020		42.09		(.09	)		10.17			10.08			(.10	)		(1.26	)		(1.36	)		50.81		24.38			69			1.52			1.52			(.21	)
9/30/2019		44.41		.02			.15			.17			(.08	)		(2.41	)		(2.49	)		42.09		1.73			71			1.54			1.54			.05
9/30/2018		41.49		.02			5.08			5.10			—			(2.18	)		(2.18	)		44.41		12.59			88			1.54			1.54			.04

Refer to the end of the table for footnotes.

24 New Perspective Fund

Financial highlights (continued)

			Income (loss) from investment operations1									Dividends and distributions
Year ended	Net asset value, beginning of year		Net investment income (loss)			Net gains (losses) on securities (both realized and unrealized)			Total from investment operations			Dividends (from net investment income)			Distributions (from capital gains)			Total dividends and distributions			Net asset value, end of year		Total return2,3			Net assets, end of year (in millions)		Ratio of expenses to average net assets before reimburse- ments4			Ratio of expenses to average net assets after reimburse- ments3,4			Ratio of net income (loss) to average net assets3
Class R-2:
3/31/20235,6	$	42.57	$	(.01	)	$	7.99		$	7.98		$	—		$	(1.57	)	$	(1.57	)	$	48.98		19.06	%7	$	486		1.53	%8		1.53	%8		(.03	)%8
9/30/2022		63.12		(.08	)		(16.04	)		(16.12	)		—			(4.43	)		(4.43	)		42.57		(27.63	)		427		1.51			1.51			(.15	)
9/30/2021		51.30		(.17	)		14.41			14.24			—			(2.42	)		(2.42	)		63.12		28.30			663		1.50			1.50			(.28	)
9/30/2020		42.52		(.09	)		10.27			10.18			(.14	)		(1.26	)		(1.40	)		51.30		24.38			571		1.52			1.52			(.20	)
9/30/2019		44.85		.02			.15			.17			(.09	)		(2.41	)		(2.50	)		42.52		1.73			518		1.54			1.54			.06
9/30/2018		41.87		.02			5.14			5.16			—			(2.18	)		(2.18	)		44.85		12.60			570		1.54			1.54			.05
Class R-2E:
3/31/20235,6		44.18		.06			8.29			8.35			(.15	)		(1.57	)		(1.72	)		50.81		19.24	7		65		1.23	8		1.23	8		.27	8
9/30/2022		65.16		.09			(16.64	)		(16.55	)		—			(4.43	)		(4.43	)		44.18		(27.42	)		55		1.21			1.21			.15
9/30/2021		52.74		.01			14.83			14.84			—			(2.42	)		(2.42	)		65.16		28.69			79		1.21			1.21			.02
9/30/2020		43.68		.04			10.55			10.59			(.27	)		(1.26	)		(1.53	)		52.74		24.73			68		1.23			1.23			.09
9/30/2019		46.02		.16			.13			.29			(.22	)		(2.41	)		(2.63	)		43.68		2.05			65		1.24			1.24			.38
9/30/2018		42.85		.15			5.26			5.41			(.06	)		(2.18	)		(2.24	)		46.02		12.92			60		1.24			1.24			.33
Class R-3:
3/31/20235,6		44.01		.10			8.25			8.35			(.21	)		(1.57	)		(1.78	)		50.58		19.30	7		1,270		1.08	8		1.08	8		.42	8
9/30/2022		64.83		.17			(16.56	)		(16.39	)		—			(4.43	)		(4.43	)		44.01		(27.30	)		1,153		1.06			1.06			.30
9/30/2021		52.40		.10			14.75			14.85			—			(2.42	)		(2.42	)		64.83		28.88			1,770		1.06			1.06			.16
9/30/2020		43.39		.11			10.48			10.59			(.32	)		(1.26	)		(1.58	)		52.40		24.91			1,557		1.07			1.07			.25
9/30/2019		45.73		.21			.13			.34			(.27	)		(2.41	)		(2.68	)		43.39		2.21			1,488		1.09			1.09			.50
9/30/2018		42.52		.22			5.22			5.44			(.05	)		(2.18	)		(2.23	)		45.73		13.09			1,728		1.09			1.09			.49
Class R-4:
3/31/20235,6		44.65		.17			8.36			8.53			(.37	)		(1.57	)		(1.94	)		51.24		19.50	7		1,749		.78	8		.78	8		.71	8
9/30/2022		65.70		.34			(16.77	)		(16.43	)		(.19	)		(4.43	)		(4.62	)		44.65		(27.08	)		1,587		.76			.76			.59
9/30/2021		52.98		.29			14.92			15.21			(.07	)		(2.42	)		(2.49	)		65.70		29.26			2,544		.76			.76			.47
9/30/2020		43.85		.25			10.60			10.85			(.46	)		(1.26	)		(1.72	)		52.98		25.30			2,166		.77			.77			.55
9/30/2019		46.23		.34			.11			.45			(.42	)		(2.41	)		(2.83	)		43.85		2.49			1,977		.79			.79			.81
9/30/2018		42.96		.35			5.28			5.63			(.18	)		(2.18	)		(2.36	)		46.23		13.44			2,149		.79			.79			.80
Class R-5E:
3/31/20235,6		45.06		.22			8.44			8.66			(.48	)		(1.57	)		(2.05	)		51.67		19.60	7		247		.58	8		.58	8		.92	8
9/30/2022		66.28		.46			(16.92	)		(16.46	)		(.33	)		(4.43	)		(4.76	)		45.06		(26.94	)		205		.56			.56			.78
9/30/2021		53.43		.43			15.03			15.46			(.19	)		(2.42	)		(2.61	)		66.28		29.54			360		.55			.55			.69
9/30/2020		44.22		.36			10.68			11.04			(.57	)		(1.26	)		(1.83	)		53.43		25.56			220		.56			.56			.76
9/30/2019		46.69		.48			.05			.53			(.59	)		(2.41	)		(3.00	)		44.22		2.72			123		.57			.57			1.13
9/30/2018		43.40		.31			5.47			5.78			(.31	)		(2.18	)		(2.49	)		46.69		13.68			36		.57			.57			.68
Class R-5:
3/31/20235,6		45.47		.25			8.51			8.76			(.54	)		(1.57	)		(2.11	)		52.12		19.67	7		1,249		.48	8		.48	8		1.00	8
9/30/2022		66.84		.53			(17.08	)		(16.55	)		(.39	)		(4.43	)		(4.82	)		45.47		(26.86	)		1,380		.46			.46			.90
9/30/2021		53.84		.48			15.16			15.64			(.22	)		(2.42	)		(2.64	)		66.84		29.65			2,063		.46			.46			.77
9/30/2020		44.53		.40			10.77			11.17			(.60	)		(1.26	)		(1.86	)		53.84		25.68			1,742		.46			.46			.85
9/30/2019		46.92		.48			.10			.58			(.56	)		(2.41	)		(2.97	)		44.53		2.82			1,606		.49			.49			1.11
9/30/2018		43.56		.50			5.34			5.84			(.30	)		(2.18	)		(2.48	)		46.92		13.79			1,798		.49			.49			1.10
Class R-6:
3/31/20235,6		45.56		.27			8.52			8.79			(.57	)		(1.57	)		(2.14	)		52.21		19.70	7		27,209		.42	8		.42	8		1.08	8
9/30/2022		66.97		.56			(17.11	)		(16.55	)		(.43	)		(4.43	)		(4.86	)		45.56		(26.83	)		22,485		.41			.41			.96
9/30/2021		53.94		.52			15.17			15.69			(.24	)		(2.42	)		(2.66	)		66.97		29.71			30,946		.41			.41			.81
9/30/2020		44.61		.43			10.78			11.21			(.62	)		(1.26	)		(1.88	)		53.94		25.74			26,119		.42			.42			.91
9/30/2019		47.00		.51			.09			.60			(.58	)		(2.41	)		(2.99	)		44.61		2.88			19,586		.44			.44			1.18
9/30/2018		43.64		.52			5.34			5.86			(.32	)		(2.18	)		(2.50	)		47.00		13.82			16,772		.44			.44			1.15

Refer to the end of the table for footnotes.

New Perspective Fund 25

Financial highlights (continued)

	Six months ended March 31, 20235,6,7		Year ended September 30,
			2022		2021		2020		2019		2018
Portfolio turnover rate for all share classes13		9%		21%		22%		26%14		20%		23%

1	Based on average shares outstanding.
2	Total returns exclude any applicable sales charges, including contingent deferred sales charges.
3	This column reflects the impact, if any, of certain reimbursements from CRMC. During one of the years shown, CRMC reimbursed a portion of transfer agent services fees for Class 529-F-3 shares.
4	Ratios do not include expenses of any Central Funds. The fund indirectly bears its proportionate share of the expenses of any Central Funds.
5	Based on operations for a period that is less than a full year.
6	Unaudited.
7	Not annualized.
8	Annualized.
9	All or a significant portion of assets in this class consisted of seed capital invested by CRMC and/or its affiliates. Fees for distribution services are not charged or accrued on these seed capital assets. If such fees were paid by the fund on seed capital assets, fund expenses would have been higher and net income and total return would have been lower.
10	Amount less than $1 million.
11	Class 529-F-2 and 529-F-3 shares began investment operations on October 30, 2020.
12	Amount less than $.01.
13	Rates do not include the fund’s portfolio activity with respect to any Central Funds.
14	Includes the value of securities sold due to redemptions of shares in-kind. The rates would have been 25% for the year ended September 30, 2020, if the value of securities sold due to in-kind redemptions were excluded.

Refer to the notes to financial statements.

26 New Perspective Fund

Expense example unaudited

As a fund shareholder, you incur two types of costs: (1) transaction costs, such as initial sales charges on purchase payments and contingent deferred sales charges on redemptions (loads), and (2) ongoing costs, including management fees, distribution and service (12b-1) fees, and other expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the fund so you can compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the entire six-month period (October 1, 2022, through March 31, 2023).

Actual expenses:

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

Hypothetical example for comparison purposes:

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

Notes:

Retirement plan participants may be subject to certain fees charged by the plan sponsor, and Class F-1, F-2, F-3, 529-F-1, 529-F-2 and 529-F-3 shareholders may be subject to fees charged by financial intermediaries, typically ranging from 0.75% to 1.50% of assets annually depending on services offered. You can estimate the impact of these fees by adding the amount of the fees to the total estimated expenses you paid on your account during the period as calculated above. In addition, your ending account value would be lower by the amount of these fees.

Note that the expenses shown in the table on the following page are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads). Therefore, the second line of each share class in the table is useful in comparing ongoing costs only and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

New Perspective Fund 27

Expense example (continued)

	Beginning account value 10/1/2022		Ending account value 3/31/2023		Expenses paid during period*		Annualized expense ratio
Class A – actual return	$	1,000.00	$	1,194.91	$	4.16		.76	%
Class A – assumed 5% return		1,000.00		1,021.14		3.83		.76
Class C – actual return		1,000.00		1,190.66		8.25		1.51
Class C – assumed 5% return		1,000.00		1,017.40		7.59		1.51
Class T – actual return		1,000.00		1,196.73		2.68		.49
Class T – assumed 5% return		1,000.00		1,022.49		2.47		.49
Class F-1 – actual return		1,000.00		1,194.90		4.38		.80
Class F-1 – assumed 5% return		1,000.00		1,020.94		4.03		.80
Class F-2 – actual return		1,000.00		1,196.39		2.90		.53
Class F-2 – assumed 5% return		1,000.00		1,022.29		2.67		.53
Class F-3 – actual return		1,000.00		1,197.17		2.30		.42
Class F-3 – assumed 5% return		1,000.00		1,022.84		2.12		.42
Class 529-A – actual return		1,000.00		1,194.84		4.38		.80
Class 529-A – assumed 5% return		1,000.00		1,020.94		4.03		.80
Class 529-C – actual return		1,000.00		1,190.38		8.57		1.57
Class 529-C – assumed 5% return		1,000.00		1,017.10		7.90		1.57
Class 529-E – actual return		1,000.00		1,193.43		5.63		1.03
Class 529-E – assumed 5% return		1,000.00		1,019.80		5.19		1.03
Class 529-T – actual return		1,000.00		1,196.53		2.96		.54
Class 529-T – assumed 5% return		1,000.00		1,022.24		2.72		.54
Class 529-F-1 – actual return		1,000.00		1,195.87		3.34		.61
Class 529-F-1 – assumed 5% return		1,000.00		1,021.89		3.07		.61
Class 529-F-2 – actual return		1,000.00		1,196.61		2.79		.51
Class 529-F-2 – assumed 5% return		1,000.00		1,022.39		2.57		.51
Class 529-F-3 – actual return		1,000.00		1,196.43		2.68		.49
Class 529-F-3 – assumed 5% return		1,000.00		1,022.49		2.47		.49
Class R-1 – actual return		1,000.00		1,190.70		8.19		1.50
Class R-1 – assumed 5% return		1,000.00		1,017.45		7.54		1.50
Class R-2 – actual return		1,000.00		1,190.56		8.36		1.53
Class R-2 – assumed 5% return		1,000.00		1,017.30		7.70		1.53
Class R-2E – actual return		1,000.00		1,192.44		6.72		1.23
Class R-2E – assumed 5% return		1,000.00		1,018.80		6.19		1.23
Class R-3 – actual return		1,000.00		1,193.03		5.90		1.08
Class R-3 – assumed 5% return		1,000.00		1,019.55		5.44		1.08
Class R-4 – actual return		1,000.00		1,194.97		4.27		.78
Class R-4 – assumed 5% return		1,000.00		1,021.04		3.93		.78
Class R-5E – actual return		1,000.00		1,195.95		3.18		.58
Class R-5E – assumed 5% return		1,000.00		1,022.04		2.92		.58
Class R-5 – actual return		1,000.00		1,196.68		2.63		.48
Class R-5 – assumed 5% return		1,000.00		1,022.54		2.42		.48
Class R-6 – actual return		1,000.00		1,197.02		2.30		.42
Class R-6 – assumed 5% return		1,000.00		1,022.84		2.12		.42

* The “expenses paid during period” are equal to the “annualized expense ratio,” multiplied by the average account value over the period, multiplied by the number of days in the period, and divided by 365 (to reflect the one-half year period).

28 New Perspective Fund

Approval of Investment Advisory and Service Agreement

The fund’s board has approved the continuation of the fund’s Investment Advisory and Service Agreement (the “agreement”) with Capital Research and Management Company (“CRMC”) for an additional one-year term through January 31, 2024. The board approved the agreement following the recommendation of the fund’s Contracts Committee (the “committee”), which is composed of all the fund’s independent board members. The board and the committee determined in the exercise of their business judgment that the fund’s advisory fee structure was fair and reasonable in relation to the services provided, and that approving the agreement was in the best interests of the fund and its shareholders.

In reaching this decision, the board and the committee took into account their interactions with CRMC as well as information furnished to them throughout the year and otherwise provided to them, as well as information prepared specifically in connection with their review of the agreement, and they were advised by their independent counsel with respect to the matters considered. They considered the following factors, among others, but did not identify any single issue or particular piece of information that, in isolation, was the controlling factor, and each board and committee member did not necessarily attribute the same weight to each factor.

1. Nature, extent and quality of services

The board and the committee considered the depth and quality of CRMC’s investment management process, including its global research capabilities; the experience, capability and integrity of its senior management and other personnel; the low turnover rates of its key personnel; the overall financial strength and stability of CRMC and the Capital Group organization; the resources and systems CRMC devotes to investment management (the manner in which the fund’s assets are managed, including liquidity management), financial, investment operations, compliance, trading, proxy voting, shareholder communications and other services; and the ongoing evolution of CRMC’s organizational structure designed to maintain and strengthen these qualities. The board and the committee also considered the nature, extent and quality of administrative and shareholder services provided by CRMC to the fund under the agreement and other agreements, as well as the benefits to fund shareholders from investing in a fund that is part of a large family of funds. The board and the committee considered the risks assumed by CRMC in providing services to the fund, including operational, business, financial, reputational, regulatory and litigation risks. The board and the committee concluded that the nature, extent and quality of the services provided by CRMC have benefited and should continue to benefit the fund and its shareholders.

2. Investment results

The board and the committee considered the investment results of the fund in light of its objective. They compared the fund’s investment results with those of other funds (including funds that currently form the basis of the Lipper index for the category in which the fund is included), and data such as relevant market and fund indexes over various periods (including the fund’s lifetime) through June 30, 2022. They generally placed greater emphasis on investment results over longer term periods. On the basis of this evaluation and the board’s and the committee’s ongoing review of investment results, and considering the relative market conditions during certain reporting periods, the board and the committee concluded that the fund’s investment results have been satisfactory for renewal of the agreement, and that CRMC’s record in managing the fund indicated that its continued management should benefit the fund and its shareholders.

3. Advisory fees and total expenses

The board and the committee compared the advisory fees and total expense levels of the fund to those of other relevant funds. They observed that the fund’s advisory fees and expenses generally compared favorably to those of other similar funds included in the comparable Lipper category. The board and the committee also considered the breakpoint discounts in the fund’s advisory fee structure that reduce the level of fees charged by CRMC to the fund as fund assets increase. In addition, they reviewed information regarding the effective advisory fees charged to non-mutual fund clients by CRMC and its affiliates. They noted that, to the extent there were differences between the advisory fees paid by the fund and the advisory fees paid by those clients, the differences appropriately reflected the investment, operational, regulatory and market differences between advising the fund and the other clients. The board and the committee concluded that the fund’s cost structure was fair and reasonable in relation to the services provided, as well as in relation to the risks assumed by the adviser in sponsoring and managing the fund, and that the fund’s shareholders receive reasonable value in return for the advisory fees and other amounts paid to CRMC by the fund.

New Perspective Fund 29

4. Ancillary benefits

The board and the committee considered a variety of other benefits that CRMC and its affiliates receive as a result of CRMC’s relationship with the fund and other American Funds, including fees for administrative services provided to certain share classes; fees paid to CRMC’s affiliated transfer agent; sales charges and distribution fees received and retained by the fund’s principal underwriter, an affiliate of CRMC; and possible ancillary benefits to CRMC and its institutional management affiliates in managing other investment vehicles. The board and the committee reviewed CRMC’s portfolio trading practices, noting that CRMC bears the cost of third-party research. The board and committee also noted that CRMC benefited from the use of commissions from portfolio transactions made on behalf of the fund to facilitate payment to certain broker-dealers for research to comply with regulatory requirements applicable to these firms, with all such amounts reimbursed by CRMC. The board and the committee took these ancillary benefits into account in evaluating the reasonableness of the advisory fees and other amounts paid to CRMC by the fund.

5. Adviser financial information

The board and the committee reviewed information regarding CRMC’s costs of providing services to the American Funds, including personnel, systems and resources of investment, compliance, trading, accounting and other administrative operations. They considered CRMC’s costs and related cost allocation methodology as well as its track record of investing in technology, infrastructure and staff to maintain and expand services and capabilities, respond to industry and regulatory developments, and attract and retain qualified personnel. They noted information regarding the compensation structure for CRMC’s investment professionals. They reviewed information on the profitability of the investment adviser and its affiliates. The board and the committee also compared CRMC’s profitability and compensation data to the reported results and data of a number of large, publicly held investment management companies. The board and the committee noted the competitiveness and cyclicality of both the mutual fund industry and the capital markets, and the importance in that environment of CRMC’s long-term profitability for maintaining its independence, company culture and management continuity. They further considered the breakpoint discounts in the fund’s advisory fee structure and CRMC’s sharing of potential economies of scale, or efficiencies, through breakpoints and other fee reductions and costs voluntarily absorbed. The board and the committee concluded that the fund’s advisory fee structure reflected a reasonable sharing of benefits between CRMC and the fund’s shareholders.

30 New Perspective Fund

Liquidity Risk Management Program unaudited

The fund has adopted a liquidity risk management program (the “program”). The fund’s board has designated Capital Research and Management Company (“CRMC”) as the administrator of the program. Personnel of CRMC or its affiliates conduct the day-to-day operation of the program pursuant to policies and procedures administered by the Capital Group Liquidity Risk Management Committee.

Under the program, CRMC manages the fund’s liquidity risk, which is the risk that the fund could not meet shareholder redemption requests without significant dilution of remaining shareholders’ interests in the fund. This risk is managed by monitoring the degree of liquidity of the fund’s investments, limiting the amount of the fund’s illiquid investments, and utilizing various risk management tools and facilities available to the fund for meeting shareholder redemptions, among other means. CRMC’s process of determining the degree of liquidity of the fund’s investments is supported by one or more third-party liquidity assessment vendors.

The fund’s board reviewed a report prepared by CRMC regarding the operation and effectiveness of the program for the period October 1, 2021, through September 30, 2022. No significant liquidity events impacting the fund were noted in the report. In addition, CRMC provided its assessment that the program had been effective in managing the fund’s liquidity risk.

New Perspective Fund 31

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32 New Perspective Fund

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New Perspective Fund 33

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34 New Perspective Fund

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New Perspective Fund 35

Office of the fund

333 South Hope Street
Los Angeles, CA 90071-1406

Investment adviser

Capital Research and Management Company

333 South Hope Street

Los Angeles, CA 90071-1406

Transfer agent for shareholder accounts

American Funds Service Company

(Write to the address nearest you.)

P.O. Box 6007

Indianapolis, IN 46206-6007

P.O. Box 2280

Norfolk,VA 23501-2280

Custodian of assets

JPMorgan Chase Bank

270 Park Avenue

New York, NY 10017-2070

Counsel

Dechert LLP

One Bush Street, Suite 1600

San Francisco, CA 94104-4446

Independent registered public accounting firm

Deloitte & Touche LLP

695 Town Center Drive

Suite 1000

Costa Mesa, CA 92626-7188

Principal underwriter

American Funds Distributors, Inc.

333 South Hope Street

Los Angeles, CA 90071-1406

36 New Perspective Fund

Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectus and summary prospectus, which can be obtained from your financial professional and should be read carefully before investing. You may also call American Funds Service Company (AFS) at (800) 421-4225 or refer to the Capital Group website at capitalgroup.com.

“American Funds Proxy Voting Procedures and Principles” — which describes how we vote proxies relating to portfolio securities — is available on our website or upon request by calling AFS. The fund files its proxy voting record with the U.S. Securities and Exchange Commission (SEC) for the 12 months ended June 30 by August 31. The proxy voting record is available free of charge on the SEC website at sec.gov and on our website.

New Perspective Fund files a complete list of its portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form NPORT-P. The list of portfolio holdings is available free of charge on the SEC website and on our website.

This report is for the information of shareholders of New Perspective Fund, but it also may be used as sales literature when preceded or accompanied by the current prospectus or summary prospectus, which gives details about charges, expenses, investment objectives and operating policies of the fund. If used as sales material after June 30, 2023, this report must be accompanied by an American Funds statistical update for the most recently completed calendar quarter.

MCSI has not approved, reviewed or produced this report, makes no express or implied warranties or representations and is not liable whatsoever for any data in the report. You may not redistribute the MSCI data or use it as a basis for other indices or investment products.

American Funds Distributors, Inc.

The Capital Advantage^®

Since 1931, Capital Group, home of American Funds, has helped investors pursue long-term investment success. Our consistent approach — in combination with The Capital System^TM — has resulted in superior outcomes.

Aligned with investor success

We base our decisions on a long-term perspective, which we believe aligns our goals with the interests of our clients. Our portfolio managers average 28 years of investment industry experience, including 22 years at our company, reflecting a career commitment to our long-term approach.¹

The Capital System

The Capital System combines individual accountability with teamwork. Funds using The Capital System are divided into portions that are managed independently by investment professionals with diverse backgrounds, ages and investment approaches. An extensive global research effort is the backbone of our system.

American Funds’ superior outcomes

Equity-focused funds have beaten their Lipper peer indexes in 90% of 10-year periods and 99% of 20-year periods.² Relative to their peers, our fixed income funds have helped investors achieve better diversification through attention to correlation between bonds and equities.³ Fund management fees have been among the lowest in the industry.⁴

1	Investment industry experience as of December 31, 2022.
2	Based on Class F-2 share results for rolling monthly 10- and 20-year periods starting with the first 10- or 20-year period after each mutual fund’s inception through  December 31, 2022. Periods covered are the shorter of the fund’s lifetime or since the comparable Lipper index inception date (except Capital Income Builder and SMALLCAP World Fund, for which the Lipper average was used). Expenses differ for each share class, so results will vary. Past results are not predictive of results in future periods.
3	Based on Class F-2 share results as of December 31, 2022. Sixteen of the 18 fixed income American Funds that have been in existence for the three-year period showed a three-year correlation lower than their respective Morningstar peer group averages. S&P 500 Index was used as an equity market proxy. Correlation based on monthly total returns. Correlation is a statistical measure of how two securities move in relation to each other. A correlation ranges from –1 to 1. A positive correlation close to 1 implies that as one security moves, either up or down, the other security will move in “lockstep,” in the same direction. A negative correlation close to –1 indicates that the securities have moved in the opposite direction.
4	On average, our mutual fund management fees were in the lowest quintile 62% of the time, based on the 20-year period ended December 31, 2022, versus comparable Lipper categories, excluding funds of funds.

Class F-2 shares were first offered on August 1, 2008. Class F-2 share results prior to the date of first sale are hypothetical based on the results of the original share class of the fund without a sales charge, adjusted for typical estimated expenses. Results for certain funds with an inception date after August 1, 2008, also include hypothetical returns because those funds’ Class F-2 shares sold after the funds’ date of first offering. Refer to capitalgroup.com for more information on specific expense adjustments and the actual dates of first sale.

All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.

ITEM 2 – Code of Ethics

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

ITEM 3 – Audit Committee Financial Expert

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

ITEM 4 – Principal Accountant Fees and Services

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

ITEM 5 – Audit Committee of Listed Registrants

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

ITEM 6 – Schedule of Investments

Not applicable, insofar as the schedule is included as part of the report to shareholders filed under Item 1 of this Form.

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

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

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

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

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

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

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

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

ITEM 11 – Controls and Procedures

(a)	The Registrant’s Principal Executive Officer and Principal Financial Officer have concluded, based on their evaluation of the Registrant’s disclosure controls and procedures (as such term is defined in Rule 30a-3 under the Investment Company Act of 1940), that such controls and procedures are adequate and reasonably designed to achieve the purposes described in paragraph (c) of such rule.
(b)	There were no changes in the Registrant’s internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the Registrant’s semi-annual period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

ITEM 12 – Exhibits

(a)(1)	Not applicable for filing of semi-annual reports to shareholders.
(a)(2)	The certifications required by Rule 30a-2 of the Investment Company Act of 1940 and Sections 302 and 906 of the Sarbanes-Oxley Act of 2002 are attached as exhibits hereto.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

NEW PERSPECTIVE FUND

By __/s/ Walter R. Burkley____________________

Walter R. Burkley,

Principal Executive Officer

Date: May 31, 2023

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

By __/s/ Walter R. Burkley_________________

Walter R. Burkley,

Principal Executive Officer

Date: May 31, 2023

By ___/s/ Brian C. Janssen    __________

Brian C. Janssen, Treasurer and

Principal Financial Officer

Date: May 31, 2023

EX-99.CERT

New Perspective Fund

333 South Hope Street, 55th Floor

Los Angeles, California 90071

(949) 975-5000

CERTIFICATION

I, Walter R. Burkley, certify that:

1.	I have reviewed this report on Form N-CSR of New Perspective Fund;
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;
4.	The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in rule 30a-3(c) under the Investment Company Act of 1940) and internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
	a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
	b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
	c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 180 days prior to the filing date of this report based on such evaluation; and
	d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s semi-annual period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5.	The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's Board of Trustees (or persons performing the equivalent functions):
	a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and
	b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: May 31, 2023

___/s/ Walter R. Burkley_____________________

Walter R. Burkley,

Principal Executive Officer

New Perspective Fund

New Perspective Fund

333 South Hope Street, 55th Floor

Los Angeles, California 90071

(949) 975-5000

CERTIFICATION

I, Brian C. Janssen, certify that:

1.	I have reviewed this report on Form N-CSR of New Perspective Fund;
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;
4.	The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in rule 30a-3(c) under the Investment Company Act of 1940) and internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
	a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
	b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
	c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 180 days prior to the filing date of this report based on such evaluation; and
	d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s semi-annual period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5.	The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's Board of Trustees (or persons performing the equivalent functions):
	a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and
	b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: May 31, 2023

__/s/ Brian C. Janssen____________

Brian C. Janssen, Treasurer and

Principal Financial Officer

New Perspective Fund

EX-99.906 CERT

New Perspective Fund

333 South Hope Street, 55th Floor

Los Angeles, California 90071

(949) 975-5000

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

WALTER R. BURKLEY, Principal Executive Officer, and BRIAN C. JANSSEN, Treasurer and Principal Financial Officer of New Perspective Fund (the "Registrant"), each certify to the best of her or his knowledge that:

1)	The Registrant's periodic report on Form N-CSR for the period ended March 31, 2023 (the "Form N-CSR") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and
2)	The information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

Principal Executive Officer	Principal Financial Officer
NEW PERSPECTIVE FUND	NEW PERSPECTIVE FUND
___/s/ Walter R. Burkley____________	_/s/ Brian C. Janssen___________
Walter R. Burkley, Principal Executive Officer	Brian C. Janssen, Treasurer
Date: May 31, 2023	Date: May 31, 2023

A signed original of this written statement required by Section 906 of the Sarbanes-Oxley Act of 2002 has been provided to NEW PERSPECTIVE FUND and will be retained by NEW PERSPECTIVE FUND and furnished to the Securities and Exchange Commission (the "Commission") or its staff upon request.

This certification is being furnished to the Commission solely pursuant to 18 U.S.C. Section 1350 and is not being filed as part of the Form N-CSR filed with the Commission.