New World Fund (First Prospectus Summary) | New World Fund

NEW WORLD FUND(R)

INVESTMENT OBJECTIVE

The fund's investment objective is long-term capital appreciation.

FEES AND EXPENSES OF THE FUND

This table describes the fees and expenses that you may pay if you buy and
hold an interest in Class 1 shares of the fund. It does not reflect insurance
contract fees and expenses. If insurance contract fees and expenses were
reflected, expenses shown would be higher.

ANNUAL FUND OPERATING EXPENSES (EXPENSES THAT YOU PAY EACH YEAR AS A PERCENTAGE OF THE VALUE OF YOUR INVESTMENT)

Annual Fund Operating Expenses	New World Fund Class 1
Management fee	0.73%
Other expenses	0.05%
Total annual fund operating expenses	0.78%

EXAMPLE

The example below is intended to help you compare the cost of investing
in Class 1 shares of the fund with the cost of investing in other mutual funds.
The example assumes that you invest $10,000 in the fund for the time periods
indicated and then redeem your shares at the end of the periods. The example
also assumes that your investment has a 5% return each year and that the fund's
operating expenses remain the same. The example does not reflect insurance
contract expenses. If insurance contract expenses were reflected, expenses
shown would be higher.

Although your actual costs may be higher or lower, based on these assumptions, your costs would be:

Expense Example (USD $)	Expense Example, With Redemption, 1 Year	Expense Example, With Redemption, 3 Years	Expense Example, With Redemption, 5 Years	Expense Example, With Redemption, 10 Years
New World Fund Class 1	80	249	433	966

PORTFOLIO TURNOVER

The fund pays transaction costs, such as commissions, when it buys and sells
securities (or "turns over" its portfolio). A higher portfolio turnover rate
may indicate higher transaction costs and may result in higher taxes when fund
shares are held in a taxable account. These costs, which are not reflected in
annual fund operating expenses or in the example, affect the fund's investment
results. During the most recent fiscal year, the fund's portfolio turnover rate
was 22% of the average value of its portfolio.

PRINCIPAL INVESTMENT STRATEGIES

The fund invests primarily in common stocks of companies with significant
exposure to countries with developing economies and/or markets and that
the investment adviser believes have potential of providing capital appreciation.
The fund may invest in companies without regard to market capitalization,
including companies with small market capitalizations. The fund may also invest
in debt securities of issuers, including issuers of lower rated bonds (rated
Ba1 or below and BB+ or below by Nationally Recognized Statistical Rating
Organizations designated by the fund's investment adviser or unrated but
determined to be of equivalent quality by the fund's investment adviser), with
exposure to these countries. Bonds rated Ba1 or BB+ or below are sometimes
referred to as "junk bonds."
  
Under normal market conditions, the fund invests at least 35% of its assets in
equity and debt securities of issuers primarily based in qualified countries
that have developing economies and/or markets.
  
In determining whether a country is qualified, the fund considers such factors
as the country's per capita gross domestic product, the percentage of the
country's economy that is industrialized, market capital as a percentage of
gross domestic product, the overall regulatory environment, the presence of
government regulation limiting or banning foreign ownership, and restrictions
on repatriation of initial capital, dividends, interest and/or capital gains.
The fund's investment adviser maintains a list of qualified countries and
securities in which the fund may invest. Qualified developing countries in
which the fund may invest currently include, but are not limited to, Argentina,
Bahrain, Brazil, Bulgaria, Chile, China, Colombia, Croatia, Czech Republic,
Dominican Republic, Egypt, Hungary, India, Jordan, Kazakhstan, Lebanon,
Malaysia, Malta, Mexico, Morocco, Oman, Panama, Peru, Philippines, Poland,
Russian Federation, South Africa, Thailand, Turkey, Ukraine, United Arab
Emirates and Venezuela.

The fund may invest in equity securities of any company, regardless of where
it is based, if the fund's investment adviser determines that a significant
portion of the company's assets or revenues (generally 20% or more) is
attributable to developing countries. In addition, the fund may invest up to
25% of its assets in nonconvertible debt securities of issuers, including
issuers of lower rated bonds and government bonds, that are primarily based
in qualified countries or that have a significant portion of their assets or
revenues attributable to developing countries. The fund may also, to a limited
extent, invest in securities of issuers based in nonqualified developing
countries.
  
The investment adviser uses a system of multiple portfolio counselors in
managing the fund's assets. Under this approach, the portfolio of the fund is
divided into segments managed by individual counselors who decide how
their respective segments will be invested.

The fund relies on the professional judgment of its investment adviser to
make decisions about the fund's portfolio investments. The basic investment
philosophy of the investment adviser is to seek to invest in attractively
valued companies that, in its opinion, represent good, long-term investment
opportunities. The investment adviser believes that an important way to
accomplish this is through fundamental analysis, which may include meeting
with company executives and employees, suppliers, customers and competitors.
Securities may be sold when the investment adviser believes that they no longer
represent relatively attractive investment opportunities.

PRINCIPAL RISKS

THIS SECTION DESCRIBES THE PRINCIPAL RISKS ASSOCIATED WITH THE FUND'S PRINCIPAL
INVESTMENT STRATEGIES.

YOU MAY LOSE MONEY BY INVESTING IN THE FUND. THE LIKELIHOOD OF LOSS MAY BE GREATER
IF YOU INVEST FOR A SHORTER PERIOD OF TIME.

Investors in the fund should have a long-term perspective and be able to
tolerate potentially sharp declines in value.

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

INVESTING IN GROWTH-ORIENTED STOCKS -- Growth-oriented stocks may involve
larger price swings and greater potential for loss than other types of
investments. These risks may be heightened in the case of smaller
capitalization stocks.
  
INVESTING OUTSIDE THE UNITED STATES -- Securities of issuers domiciled outside
the United States, or with significant operations outside the United States,
may lose value because of political, social, economic or market developments or
instability in the countries or regions in which the issuer operates. 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. Securities
markets in certain countries may be more volatile and/or less liquid than those
in the United States. Investments outside the United States may also be subject
to different settlement and accounting practices and different regulatory,
legal and reporting standards, and may be more difficult to value, than those
in the United States. The risks of investing outside the United States may be
heightened in connection with investments in emerging and developing countries.

INVESTING IN EMERGING AND DEVELOPING COUNTRIES -- Investing in
countries  with developing economies and/or markets may involve risks in addition
to and greater than those generally associated with investing in developed countries.
For instance, emerging and developing countries may have less developed legal
and accounting systems than those in developed countries. The governments of
these countries may be more unstable and more likely to impose capital
controls, nationalize a company or industry, place restrictions on foreign
ownership and on withdrawing sale proceeds of securities from the country,
and/or impose punitive taxes that could adversely affect the prices of
securities. In addition, the economies of these countries may be dependent on
relatively few industries that are more susceptible to local and global
changes. Securities markets in these countries can also be relatively small and
have substantially lower trading volumes. As a result, securities issued in
these countries may be more volatile and less liquid, and may be more difficult
to value, than securities issued in countries with more developed economies or
markets. Additionally, because these markets may not be as mature, there may be
increased settlement risks for transactions in local securities.
  
INVESTING IN SMALL COMPANIES -- Investing in smaller companies may pose
additional risks. For example, it is often more difficult to value or dispose
of small company stocks and more difficult to obtain information about smaller
companies than about larger companies. In addition, the prices of these stocks
may be more volatile than stocks of larger, more established companies.
  
INVESTING IN BONDS -- Rising interest rates will generally cause the prices of
bonds and other debt securities to fall. Longer maturity debt securities may be
subject to greater price fluctuations than shorter maturity debt securities. In
addition, falling interest rates may cause an issuer to redeem, call or
refinance a security before its stated maturity, which may result in the fund
having to reinvest the proceeds in lower yielding securities.
  
Bonds and other debt securities are subject to credit risk, which is the
possibility that the credit strength of an issuer will weaken and/or an issuer
of a debt security will fail to make timely payments of principal or interest
and the security will go into default.

INVESTING IN LOWER RATED BONDS -- Lower rated bonds and other lower
rated debt securities generally have higher rates of interest and involve greater
risk of default or price declines due to changes in the issuer's creditworthiness
than those of higher quality debt securities. The market prices of these securities
may fluctuate more than the prices of higher quality debt securities and may
decline significantly in periods of general economic difficulty. These risks
may be increased with respect to investments in junk bonds.
  
THINLY TRADED SECURITIES -- There may be little trading in the secondary
market for particular bonds or other securities, which may make them more
difficult to value, acquire or sell.

MANAGEMENT -- The investment adviser to the fund actively manages the fund's
investments. Consequently, the fund is subject to the risk that the methods and
analyses employed by the investment adviser in this process may not produce the
desired results. This could cause the fund to lose value or its investment
results to lag relevant benchmarks or other funds with similar objectives.
  
Your investment in the fund is not a bank deposit and is not insured or
guaranteed by the Federal Deposit Insurance Corporation or any other
government agency, entity or person.

INVESTMENT RESULTS

The following information shows how the investment results of the Class 1
shares of the fund have varied from year to year and how the fund's average
annual total returns for various periods compare with different broad measures
of market performance. This information provides some indication of the risks
of investing in the fund. The MSCI Emerging Markets Index reflects the market
sectors and securities in which the fund primarily invests. Past results are
not predictive of future results. Figures shown reflect fees and expenses
associated with an investment in the fund, but do not reflect insurance
contract fees and expenses. If insurance contract fees and expenses were
included, results would have been lower.

The following information shows how the investment results of the Class 1
shares of the fund have varied from year to year and how the fund's average
annual total returns for various periods compare with different broad measures
of market performance.

Calendar year total returns.

The fund's highest/lowest quarterly results during this time period were:

HIGHEST   24.00% (quarter ended June 30, 2009)
LOWEST   -22.22% (quarter ended December 31, 2008)

For periods ended December 31, 2011: AVERAGE ANNUAL TOTAL RETURNS

Average Annual Total Returns New World Fund	Average Annual Returns, Label	Average Annual Returns, 1 Year	Average Annual Returns, 5 Years	Average Annual Returns, 10 Years	Average Annual Returns, Since Inception	Average Annual Returns, Inception Date
Class 1	NEW WORLD FUND	(13.75%)	3.21%	11.46%	9.01%	Jun. 17, 1999
MSCI All Country World Index	MSCI All Country World Index (reflects no deduction for sales charges, account fees, expenses or taxes)	(6.86%)	(1.41%)	4.76%	2.30%	Jun. 17, 1999
MSCI Emerging Markets Index	MSCI Emerging Markets Index (reflects no deduction for sales charges, account fees, expenses or taxes)	(18.17%)	2.70%	14.20%	9.27%	Jun. 17, 1999