-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, J28SGDmmA3VLc4Hdg5zDQRZu7NqWRBNaytqOdC9860h/i5Y33f91TnYQemNX6oah JYVK/Lq7HmAGyhRQBv52iw== 0000794458-08-000008.txt : 20080606 0000794458-08-000008.hdr.sgml : 20080606 20080605202913 ACCESSION NUMBER: 0000794458-08-000008 CONFORMED SUBMISSION TYPE: 40-24B2 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20080606 DATE AS OF CHANGE: 20080605 FILER: COMPANY DATA: COMPANY CONFORMED NAME: EMERGING MARKETS GROWTH FUND INC CENTRAL INDEX KEY: 0000794458 IRS NUMBER: 954026510 STATE OF INCORPORATION: MD FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 40-24B2 SEC ACT: 1940 Act SEC FILE NUMBER: 811-04692 FILM NUMBER: 08884206 BUSINESS ADDRESS: STREET 1: 11100 SANTA MONICA BLVD - 15TH FL (MICG) CITY: LOS ANGELES STATE: CA ZIP: 90025 BUSINESS PHONE: 310-996-6000 MAIL ADDRESS: STREET 1: 11100 SANTA MONICA BLVD - 15TH FL (MICG) CITY: LOS ANGELES STATE: CA ZIP: 90025 40-24B2 1 emgf24b2.htm EMERGING MARKETS GROWTH FUND, INC emgf24b2.htm
 
Twenty largest holdings
          
Emerging Markets Growth Fund
          
               
Ranking
  
% Total
        
12/31/07
3/31/08
Security
portfolio
  
% Index1
  
Description
1
1
América Móvil
3.7
 
1.8
  
Latin America's largest cellular communications provider.
3 
2
Taiwan Semiconductor Manufacturing
3.0
 
1.3
  
One of the world's largest semiconductor manufacturers.
4 
3
Samsung Electronics
2.8
 
2.4
  
Korea's top electronics manufacturer and a global leader in semiconductor production.
7
4
Telekomunikasi Indonesia
2.0
 
0.3
  
The dominant telecommunications services provider in Indonesia.
5
5
Hon Hai Precision Industry
1.8
  
0.9
  
Top-tier provider of electronic manufacturing services to computer, networking, wireless and consumer equipment makers.
2
6
Gazprom
1.7
 
3.7
  
The largest gas producer and transporter in the Russian Federation.
6
7
OCI
1.4
  
0.2
  
A leading cement producer and construction contractor serving customers in the developing world.
19
8
Taiwan Cement
1.4
 
0.2
  
Manufacturer and retailer of cement, concrete and other construction materials.
13
9
Rosneft
1.2
 
0.2
  
Russian energy company focused on oil and gas exploration.
11
10
Evraz
1.2
 
0.0
  
Steel and mining company operating primarily in Russia.
               
   
Total companies 1 through 10
20.2
 
11.0
    
               
15
11
Banpu
1.1
 
0.1
  
Thailand-based energy company focused on coal mining and coal-fired power generation.
8
12
GOME Electrical Appliances Holding
1.1
 
0.1
  
Electrical appliance and consumer electronic products retailer operating in China.
30
13
Harmony Gold Mining
1.0
 
0.1
  
One of South Africa's largest gold mining companies.
17
14
Suzlon Energy
1.0
 
0.0
  
A fully integrated wind power company. Suzlon operates large wind parks and produces wind turbines throughout Asia.
16
15
Bumiputra-Commerce Holdings
1.0
 
0.2
  
Involved in banking, financial services and real estate management.
28
16
High Tech Computer
0.9
 
0.3
  
Manufactures mobile computing and communications devices.
31
17
Cemig
0.9
 
0.2
  
Generates and distributes electricity in the Brazilian state of Minas Gerais.
9
18
DLF Ltd.
0.9
 
0.1
  
Major real estate development company based in India.
14
19
AmBev
0.9
 
0.4
  
The dominant beer producer in Latin America.
51
20
Industrial and Commercial Bank of China
0.8
 
0.9
  
A state-owned commercial bank in China and one of the world's largest banks.
               
   
Total companies 1 through 20
29.8
  
13.4
    
               
               
1MSCI EMERGING MARKETS IMI
          
 

Diversification by sector
          
Emerging Markets Growth Fund
        
                 
               
 
% Total portfolio
% Total portfolio
  
% Index1
    
% Total portfolio
% Total portfolio
% Index1
 
12/31/07
3/31/08
3/31/08
    
 12/31/07
 3/31/08
 3/31/08
ENERGY
11.1
9.3
15.7
  
FINANCIALS
11.4
9.2
21.0
Gazprom
  
1.7
    
Bumiputra-Commerce Holdings
  
1.0
  
Rosneft
  
1.2
    
DLF Ltd.
  
0.9
  
Banpu
  
1.1
 
   Industrial and Commercial Bank of China  
0.8
  
OTHERS
  
5.3
    
Grupo Financiero Inbursa
     
0.5
 
       
OTHERS
 
6.0
  
MATERIALS
 16.0 16.1 15.8  
 
 
 
 
Taiwan Cement
   1.4    
INFORMATION TECHNOLOGY
 11.4
12.2
 10.9
Evraz
1.2
 
  
Taiwan Semiconductor Manufacturing
 
3.0
  
Harmony Gold Mining
  
1.0
    
Samsung Electronics
 
2.8
 
Ambuja Cements
  
0.8
    
Hon Hai Precision Industry
  
1.8
 
CEMEX
  
0.7
    
High Tech Computer
 
0.9
 
OTHERS
 
11.0
    
Delta Electronics
 
0.6
 
 
  
 
    
OTHERS
  
3.1
  
INDUSTRIALS
  11.3
11.3
9.8
  
 
 
 
 
OCI
 
1.4
 
  
TELECOMMUNICATION SERVICES
 12.5
13.5
 10.6
Suzlon Energy
  
 1.0
     America Movil  
3.7
  
Empresas ICA
0.6
 
  
Telekomunikasi Indonesia
 
2.0
 
IJM Corp.
  
0.6
    
Orascom Telecom
 
0.8
 
OTHERS
7.7
 
  
Bharti Airtel
  
0.6
  
   
 
     LG Telecom    0.6  
CONSUMER DISCRETIONARY
 9.1
8.1
6.0
  
OTHERS
 
5.8
 
GOME Electrical Appliances Holding
  
1.1
    
 
  
 
  
Astra International
 
0.6
    
 
 
 
 
Shangri-La Asia
 
0.5
  
UTILITIES
1.9
2.6
3.4
OTHERS  
5.9
     Cemig
0.9
 
 
  
 
    
OTHERS
1.7
 
CONSUMER STAPLES
6.7
5.8
4.8
 
 
 
 
 
AmBev  
 0.9
    
OTHER
 1.2 1.2 0.0
Wilmar International
 
 0.5
 
  
Baring Vostok Capital Partners
0.4
 
OTHERS
 
 4.4
 
  
OTHERS
0.8
 
   
 
    
Total equity
93.9
90.7
100.0
HEALTH CARE
1.3
1.4
 2.0
   Fixed income
0.4
0.9
  
Teva Pharmaceutical Industries
0.5
    
Cash & equivalents
5.7
8.4
  
 OTHERS  
0.9
     Total assets
 100.0
 100.0
  
                 
 
 
 
 
  
 
 
 
 
 
 
 
    
 
 
 
 
 
 
 
    
 
 
 
 
 
 
    
 
 
 
 
   
 
      
 
  
                 
1MSCI EMERGING MARKETS IMI 
      
Overweight
 MATERIALS    
 
         INDUSTRIALS 
          CONSUMER DISCRETIONARY 
          CONSUMER STAPLES  
 
         INFORMATION TECHNOLOGY
          TELECOMMUNICATION SERVICES
          OTHER    
        Underweight ENERGY  
 
 
 HEALTH CARE   
          FINANCIALS    
          UTILITIES    
               
 
Diversification by country
              
Emerging Markets Growth Fund as of March 31, 2008
            
                     
                     
 
% Total portfolio
% IFCG Index1
% IFCI Index2
% MSCI
EM Index3
    
% Total portfolio
% IFCG Index1
% IFCI Index2
% MSCI
EM Index3
LATIN AMERICA
16.6
16.6
21.9
21.7
  
EUROPE/MIDDLE EAST/AFRICA
21.7
27.8
24.7
24.0
BRAZIL
6.5
10.2
13.7
13.7
  
RUSSIAN FEDERATION
9.2
8.1
11.0
9.2
MEXICO
8.1
3.7
5.1
4.8
  
SOUTH AFRICA
5.6
4.0
5.6
6.5
CHILE
1.1
1.4
1.9
1.4
  
ISRAEL
1.7
1.6
2.2
2.3
PERU
0.5
0.5
0.7
0.7
  
POLAND
0.7
1.4
1.8
1.9
ARGENTINA
0.1
0.4
0.5
0.7
  
TURKEY
0.6
0.9
1.2
1.2
REPUBLIC OF COLOMBIA
0.3
0.4
0.0
0.4
  
EGYPT
2.9
0.7
0.9
0.9
SOUTHEAST ASIA
17.1
13.0
13.4
14.3
  
CZECH REPUBLIC
0.1
0.4
0.6
0.8
INDIA 
 6.5 7.8 7.7 7.5  
HUNGARY
0.0
0.4
0.6
0.7
MALAYSIA
4.2
1.9
2.4
2.6
  
MOROCCO
0.1
0.6
0.8
0.4
INDONESIA
 3.3
1.0
1.4
1.9
  
JORDAN
0.0
0.3
0.0
0.1
THAILAND
1.6
1.4
1.4
1.6
  
CROATIA
0.1
0.0
0.0
0.0
PHILIPPINES
 1.1
0.6
 0.5 0.5  
KAZAKHSTAN
0.3
0.0
0.0
0.0
PAKISTAN
 0.2 0.3 0.0 0.2  
SULTANATE OF OMAN
0.3
 0.2 0.0
0.0
SRI LANKA
0.2
0.0
0.0
0.0
  
UNITED ARAB EMIRATES
 0.1 1.6 0.0
0.0
FAR EAST ASIA
30.2
42.6
40.0
40.0
   QATAR
0.0
1.0
0.0
0.0
CHINA
8.8
22.0
13.6
13.4
  
NIGERIA
0.0
1.0
0.0
0.0
SOUTH KOREA
9.3
10.6
14.1
14.0
  
SAUDI ARABIA
0.0
3.2
0.0
0.0
TAIWAN
11.0
10.0
12.3
12.6
  
KUWAIT
0.0
2.2
0.0
0.0
HONG KONG
1.1
0.0
0.0
0.0
  
OMAN
 0.0 0.2 0.0
0.0
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
  
OTHERS4
5.1
0.0
0.0
0.0
 
                    
           
Total equity
90.7
100.0
100.0
100.0
           
Total fixed income
0.9
      
           
Total cash & equivalents
8.4
      
           
Total assets
100.0
      
                     
1S&P/International Finance Corporation Global Composite Index    
            
2S&P/International Finance Corporation Investable Composite Index      
        
3MSCI Emerging Markets IMI
                  
4The current period includes 4.6% in companies with substantial business assets in emerging markets but that are domiciled in developed markets, and 0.5% in CII's Private Equity funds.          

Diversification by country
                  
Emerging Markets Growth Fund
                   
                         
 
% Portfolio
% Index1
 
12/31/98
12/31/99
12/31/00
12/31/01
12/31/02
12/31/03
12/31/04
12/31/05
12/31/06
12/31/07
 3/31/08
3/31/08
LATIN AMERICA
34.3
27.9
31.4
30.2
29.4
22.5
23.0
19.5
18.2
14.0
16.6
21.7
BRAZIL
11.7
9.2
13.9
10.9
10.6
10.8
12.3
10.3
9.4
7.2
 6.5
13.7
MEXICO
10.6
12.5
15.0
17.2
16.3
9.2
8.6
7.3
7.9
5.9
 8.1
4.8
CHILE
3.8
1.8
1.2
1.1
1.6
1.4
1.2
0.5
0.5
0.4
 1.1
1.4
ARGENTINA
6.7
2.9
0.7
0.2
0.2
0.4
0.3
0.3
0.1
0.2
 0.5
0.7
PERU
1.3
1.1
0.3
0.6
0.5
0.4
0.1
0.1
0.0
0.0
0.1
0.7
REPUBLIC OF COLOMBIA
0.0
0.0
0.1
0.1
0.1
0.1
0.2
0.8
0.3
0.3
0.3
0.4
VENEZUELA
0.2
0.4
0.2
0.1
0.1
0.2
0.3
0.2
0.0
0.0
0.0
0.0
                         
SOUTHEAST ASIA
11.6
14.8
14.3
15.7
20.8
22.0
19.6
16.4
16.6
18.0
 17.1
14.3
INDIA
5.3
8.2
8.8
9.7
12.3
13.8
10.4
7.9
6.5
7.2
 6.5
7.5
MALAYSIA
0.9
1.8
2.0
1.9
3.1
3.2
5.6
3.2
3.9
4.8
 4.2
2.6
INDONESIA
 1.8 2.7 1.6
1.9
 2.5 3.1 2.6 3.0
3.4
 2.7 3.3
1.9
THAILAND
0.6
0.6
0.1
 0.7
1.9
 1.3 0.6 1.9 1.5 1.7 1.6
1.6
PHILIPPINES
2.8
1.4
1.8
1.5
1.0
0.6
0.3
0.3
0.8
1.3
 1.1
0.5
PAKISTAN
0.1
0.1
0.0
0.0
0.0
0.0
0.0
0.0
0.1
0.1
0.2
0.2
SRI LANKA
0.1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.1
0.2
 0.2
0.0
VIETNAM
0.0
0.0
0.0
0.0
0.0
0.0
0.1
0.1
0.3
0.0
 0.0
0.0
                     
 
  
FAR EAST ASIA
13.1
22.0
22.9
31.2
28.2
33.5
33.4
37.5
34.1
30.2
 30.2
40.0
SOUTH KOREA
5.3
11.0
10.1
15.2
18.2
18.6
17.6
20.2
11.0
9.2
 8.8
14.0
CHINA
0.6
0.6
3.2
4.0
3.2
3.4
3.8
4.4
9.6
10.1
 9.3
13.4
TAIWAN
6.6
9.1
8.2
11.8
5.9
10.5
10.5
11.4
11.9
9.7
 11.0
12.6
HONG KONG
0.6
1.3
1.4
0.2
0.9
1.0
1.5
1.5
1.6
1.2
 1.1
0.0
                         
EUROPE/MIDDLE EAST/AFRICA
14.7
24.7
21.7
16.7
17.1
17.4
17.9
21.7
23.9
26.4
 21.7
24.0
RUSSIAN FEDERATION
1.0
1.7
1.9
3.9
5.4
5.6
3.1
3.3
5.6
11.7
9.2
9.2
SOUTH AFRICA
4.7
4.6
5.2
3.3
4.7
6.6
7.7
8.7
8.9
6.0
 5.6
6.5
ISRAEL
0.3
2.7
3.6
1.0
0.3
0.5
1.9
4.3
2.5
1.8
 1.7
2.3
POLAND
1.5
1.9
2.1
1.8
2.2
0.8
0.4
0.1
0.4
0.5
0.7
1.9
TURKEY
3.9
9.8
6.8
4.8
1.9
2.0
2.4
3.1
3.3
1.7
 0.6
1.2
HUNGARY
1.1
2.0
0.6
0.7
1.4
1.0
0.9
0.2
0.3
0.0
0.0
0.7
CZECH REPUBLIC
0.5
0.5
0.3
0.2
0.4
0.4
0.9
0.0
0.1
0.0
 0.1
0.8
EGYPT
0.1
0.8
0.6
0.2
0.2
0.2
0.3
1.6
2.1
3.6
2.9
0.9
MOROCCO
0.3
0.1
0.0
0.0
0.1
0.0
0.1
0.1
0.1
0.1
 0.1
0.4
JORDAN
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
 0.0
0.1
KAZAKHSTAN
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.1
0.3
0.5
 0.3
0.0
SULTANATE OF OMAN
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.1
0.1
0.3
 0.3
0.0
UNITED ARAB EMIRATES
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.1
0.1
 0.1
0.0
NIGERIA
0.1
0.0
0.1
0.1
0.1
0.0
0.0
0.0
0.1
0.0
 0.0
0.0
CROATIA
0.9
0.4
0.5
0.5
0.4
0.3
0.2
0.1
0.0
0.1
 0.1
0.0
ESTONIA
0.0
0.1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
 0.0
0.0
GHANA
0.2
0.1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
 0.0
0.0
BOTSWANA
0.0
0.0
0.0
0.2
0.0
0.0
0.0
0.0
0.0
0.0
 0.0
0.0
OTHER2
6.6
7.0
2.8
2.1
0.8
1.2
1.6
2.1
2.6
5.3
5.1
0.0
                         
Total equity
80.3
96.4
93.1
95.9
96.3
96.6
95.5
97.2
95.4
93.9
 90.7
100.0
Fixed income
7.6
1.2
0.6
1.5
1.8
1.6
0.9
1.0
0.9
0.4
0.9
  
Cash & equivalents
12.1
2.4
6.3
2.6
1.9
1.8
3.6
1.8
3.7
5.7
 8.4  
Total assets
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.00
 
                         
                         
                         
                         
1MSCI Emerging Markets IMI
                    
2The current period includes 4.6% in companies with substantial business assets in emerging markets but that are domiciled in developed markets, and 0.5% in CII's Private Equity funds.
 

Diversification by country
          
Emerging Markets Growth Fund
            
                 
 
% Total portfolio
% Total portfolio
% Index1
    
% Total portfolio
% Total portfolio
% Index1
 
12/31/07
3/31/08
3/31/08
    
12/31/07
3/31/08
3/31/08
LATIN AMERICA
14.0
16.6
21.7
  
EMERGING EUROPE/MIDDLE EAST/AFRICA
26.4
21.7
24.0
BRAZIL
7.2
6.5
13.7
  
RUSSIAN FEDERATION
11.7
9.2
9.2
MEXICO
5.9
8.1
4.8
  
SOUTH AFRICA
6.0
5.6
6.5
CHILE
0.4
1.1
1.4
  
ISRAEL
1.8
1.7
2.3
ARGENTINA
0.2
0.5
0.7
  
POLAND
0.5
0.7
1.9
PERU
0.0
0.1
0.7
  
TURKEY
1.7
0.6
1.2
REPUBLIC OF COLOMBIA
0.3
0.3
0.4
  
EGYPT
3.6
2.9
0.9
       
CZECH REPUBLIC
0.0
0.1
0.8
SOUTHEAST ASIA
18.0
17.1
14.3
  
HUNGARY
0.0
0.0
0.7
INDIA
7.2
6.5
7.5
  
MOROCCO
0.1
0.1
0.4
MALAYSIA
4.8
4.2
2.6
  
JORDAN
0.0
0.0
0.1
INDONESIA
2.7
3.3
1.9
  
CROATIA
0.1
0.1
0.0
THAILAND
1.7
1.6
1.6
  
KAZAKHSTAN
0.5
0.3
0.0
PHILIPPINES
1.3
1.1
0.5
  
SULTANATE OF OMAN
0.3
0.3
0.0
PAKISTAN
0.1
0.2
0.2
  
UNITED ARAB EMIRATES
0.1
0.1
0.0
SRI LANKA
0.2
0.2
0.0
  
 
 
         
 
FAR EAST ASIA
30.2
30.2
40.0
  
OTHER2
5.3
5.1
0.0
SOUTH KOREA
9.2
8.8
14.0
  
 
CHINA
10.1
9.3
13.4
  
Total equity
93.9
90.7
 100.0
TAIWAN
9.7
11.0
12.6
  
Total fixed income
0.4
0.9
  
HONG KONG
1.2
1.1
0.0
  
Total cash and equivalents
5.7
8.4
  
         
Total assets  
100.0
 100.0  
                 
1MSCI EMERGING MARKETS IMI
          
2The current period includes 4.6% in companies with substantial business assets in emerging markets but that are domiciled in developed markets, and 0.5% in CII's Private Equity funds.
 
Investment results
           
Emerging Markets Growth Fund (Lifetime: 5/31/86 - 3/31/08)
  
                     
                     
 
          EMGF
           Index2
    
         EMGF
            Index2 
 
  Dividends
Dividends
Dividends
Dividends
    
  Dividends
Dividends
Dividends
Dividends
 
  in cash %
reinvested %1
in cash %3
reinvested %4
    
  in cash %
reinvested %1
in cash %3
reinvested %4
2007
          
2006
        
1st qtr.    
4.41
4.41
1.79
2.25
  
1st qtr.
12.89
12.89
11.51
12.02
2nd qtr.
14.92
14.92
14.06
14.96
  
2nd qtr.
-4.58
-4.58
-5.11
-4.34
3rd qtr.
11.87
11.87
13.70
14.42
  
3rd qtr.
7.11
7.11
4.10
4.88
4th qtr.    
0.07
3.23
3.38
3.66
  
4th qtr.
15.74
18.32
17.28
17.60
Year 2007
34.33
38.57
36.48
39.42
  
Year 2006
33.55
36.53
29.18
32.17
2008
 
 
 
 
  
2005
        
January    
-8.19
-8.19
-12.59
-12.74
  
1st qtr.
2.07
2.07
1.20
1.80
February
4.84
4.84
7.25
7.39
  
2nd qtr.
5.91
5.91
3.00
4.12
March      
-3.24
-3.24
-5.40
-5.39
  
3rd qtr.
16.33
16.33
17.01
17.95
1st qtr.    
-6.87
-6.87
-11.32
-11.35
  
4th qtr.
7.20
10.03
6.83
7.18
 
 
  
Year 2005
34.79
38.35
30.31
34.00
Lifetime return
 
 
 
  
2004
        
Cumulative%
2,892.00
4,504.92
__
__
  
1st qtr.
9.13
9.13
8.87
9.59
Annualized%
16.84
19.17
__
__
  
2nd qtr.
-10.98
-10.98
-10.34
-9.64
 
 
         3rd qtr. 
 7.65
 7.65
7.39
 8.14
 
 
         4th qtr. 
 13.66
 15.45
 16.81
 17.24
 
 
  
 
 
  
Year 2004
18.87
 20.74
22.45
25.55
 
 
 
 
  
 
 
 
 
                     
 
 
 
 
 
  
 
 
 
 
 
 
 
 
            
                     
                     
1Total return percentages are calculated from net asset value assuming all dividends are reinvested.
 
 
 
 
2The inception date is 1/1/88.
 
 
 
 
 
 
3MSCI Emerging Markets Index
4Reflects MSCI Emerging Markets Index with gross dividends reinvested from inception through 12/31/00, MSCI Emerging Markets Index with net dividends reinvested  through 11/30/07, and MSCI Emerging Markets Investable Markets Index with net dividends reinvested thereafter.
 
Investment results
             
Emerging Markets Growth Fund (Lifetime: 5/31/86 - 3/31/08)
            
                     
                     
 
         EMGF
           Index2
 
 
         EMGF
          Index2
 
  Dividends
Dividends
  Dividends
Dividends
 
 
  Dividends
Dividends
  Dividends
Dividends
 
  in cash %
reinvested %1
  in cash %3
reinvested %4
 
 
  in cash %
reinvested %1
   in cash %3
reinvested %4
2003
          
2000
 
 
 
 
1st qtr.
-6.12
-6.12
-6.79
-6.00
 
1st qtr.
7.78
7.78
2.04
2.42
2nd qtr.
22.60
22.60
22.19
23.29
 
2nd qtr.
-10.29
-10.29
-10.79
-10.16
3rd qtr.
14.62
14.62
13.51
14.15
 
3rd qtr.
-14.86
-14.86
-13.35
-13.00
4th qtr.
12.42
14.85
17.25
17.78
 
4th qtr.
-16.76
-16.16
-13.53
-13.32
Year 2003
48.31
51.51
51.59
55.82
 
Year 2000
-31.48
-30.98
-31.80
-30.61
2002
          
1999
        
1st qtr.
10.63
10.63
10.72
11.34
  
1st qtr.
13.37
13.37
11.96
12.44
2nd qtr.
-12.53
-12.53
-9.01
-8.44
  
2nd qtr.
20.80
20.80
23.62
24.40
3rd qtr.
-16.67
-16.67
-16.78
-16.35
  
3rd qtr.
-3.01
-3.01
-5.50
-5.15
4th qtr.
10.34
11.71
9.76
10.04
 
4th qtr.
31.90
33.96
25.15
25.44
Year 2002
-11.04
-9.93
-7.97
-6.17
  
Year 1999
75.19
77.93
63.70
66.41
2001
 
 
 
 
  
1998
        
1st qtr.
-7.44
-7.44
-6.19
-5.50
  
1st qtr.
5.26
5.26
5.71
6.19
2nd qtr.
6.99
6.99
3.11
3.93
  
2nd qtr.
-20.34
-18.95
-24.20
-23.60
3rd qtr.
-24.91
-24.91
-22.14
-21.66
  
3rd qtr.
-21.89
-21.89
-22.89
-22.01
4th qtr.
27.90
29.86
26.26
26.58
  
4th qtr.
12.73
12.73
17.30
17.99
Year 2001
-4.89
-3.43
-4.91
-2.61
  
Year 1998
-26.17
-24.88
-27.52
-25.34
1997
          
1994
 
 
 
 
1st qtr.
10.76
10.76
8.04
8.47
  
1st qtr.
-2.04
-2.04
-9.30
-9.04
2nd qtr.
15.37
16.60
7.68
8.56
  
2nd qtr.
-5.24
-4.83
-2.05
-1.44
3rd qtr.
-1.10
-1.10
-9.40
-8.97
  
3rd qtr.
24.02
24.02
20.47
20.76
4th qtr.
-16.49
-14.15
-17.84
-17.52
  
4th qtr.
-15.05
-14.82
-14.67
-14.39
Year 1997
5.53
9.66
-13.40
-11.59
  
Year 1994
-2.21
-1.52
-8.67
-7.32
1996
          
1993
        
1st qtr.
7.88
7.88
5.77
6.23
  
1st qtr.
9.64
9.64
5.20
5.55
2nd qtr.
6.14
7.86
3.35
4.18
  
2nd qtr.
8.26
9.31
7.10
8.27
3rd qtr.
-2.26
-2.26
-4.08
-3.62
  
3rd qtr.
12.61
12.61
14.84
15.38
4th qtr.
0.43
2.32
-0.89
-0.59
  
4th qtr.
27.44
27.95
32.36
32.60
Year 1996
12.40
16.37
3.92
6.03
  
Year 1993
70.35
72.69
71.26
74.84
1995
 
 
 
 
  
1992
        
1st qtr.
-16.54
-16.54
-12.74
-12.38
  
1st qtr.
20.17
20.17
20.01
20.48
2nd qtr.
11.07
12.04
9.67
10.37
  
2nd qtr.
-8.65
-7.85
-11.85
-10.87
3rd qtr.
2.20
2.20
-1.06
-0.64
  
3rd qtr.
-0.54
-0.54
-3.75
-3.30
4th qtr.
-3.59
-2.88
-1.72
-1.35
  
4th qtr.
1.63
1.98
7.09
7.28
Year 1995
-8.66
-7.19
-6.94
-5.21
  
Year 1992
10.95
12.32
9.05
11.40
1991
          
1988
 
 
 
 
1st qtr.
23.75
23.75
28.66
29.17
  
1st qtr.
19.34
19.34
20.64
22.05
2nd qtr.
11.36
12.71
3.79
5.09
  
2nd qtr.
14.87
15.69
10.83
12.18
3rd qtr.
1.96
1.96
2.66
3.28
  
3rd qtr.
5.07
5.07
0.02
0.99
4th qtr.
14.22
14.90
13.77
14.05
  
4th qtr.
-3.41
-2.12
0.85
1.56
Year 1991
60.48
63.39
55.97
59.91
  
Year 1988
39.13
41.98
34.87
40.43
1990
          
1987
        
1st qtr.
-5.68
-5.68
-7.85
-7.18
  
1st qtr.
11.32
11.32
—
—
2nd qtr.
12.17
13.89
18.85
20.03
  
2nd qtr.
23.33
25.30
—
—
3rd qtr.
-16.73
-16.73
-17.88
-17.19
  
3rd qtr.
8.70
8.70
—
—
4th qtr.
-0.23
1.67
-4.10
-3.05
  
4th qtr.
-18.98
-18.14
—
—
Year 1990
-12.11
-9.05
-13.76
-10.55
  
Year 1987
20.91
24.13
—
—
1989
 
 
 
 
  
1986
        
1st qtr.
16.44
16.44
15.66
16.88
  
1 mo. To 6/30
0.60
0.60
—
—
2nd qtr.
21.71
23.16
4.68
5.95
  
3rd qtr.
3.68
4.15
—
—
3rd qtr.
21.72
21.72
21.86
22.80
  
4th qtr.
6.71
6.71
—
—
4th qtr.
10.14
11.29
7.90
8.48
  
Year 1986
 
 
 
 
Year 1989
89.99
94.26
59.19
64.96
  
(5/30-12/31)
11.30
11.80
—
—
 
 
 
 
 
            
                     
                     
                     
1Total return percentages are calculated from net asset value assuming all dividends are reinvested.
 
 
 
 
2The inception date is 1/1/88.
 
 
 
 
 
 
3MSCI Emerging Markets Index.
4Reflects MSCI Emerging Markets Index with gross dividends reinvested from inception through 12/31/00, MSCI Emerging Markets Index with net dividends reinvested  through 11/30/07, and MSCI Emerging Markets Investable Markets Index with net dividends reinvested thereafter.
 
 
Investment results
           
Emerging Markets Growth Fund (Lifetime: 5/31/86 - 3/31/08)
  
                     
                     
 
          EMGF
           Index2
    
         EMGF
            Index2 
 
  Dividends
Dividends
Dividends
Dividends
    
  Dividends
Dividends
Dividends
Dividends
 
in cash %
reinvested %1
in cash %3
reinvested %4
    
in cash %
reinvested %1
in cash %3
reinvested %4
2007
          
2006
        
1st qtr.    
4.41
4.41
1.79
2.25
  
1st qtr.
12.89
12.89
11.51
12.02
2nd qtr.
14.92
14.92
14.06
14.96
  
2nd qtr.
-4.58
-4.58
-5.11
-4.34
3rd qtr.
11.87
11.87
13.70
14.42
  
3rd qtr.
7.11
7.11
4.10
4.88
4th qtr.    
0.07
3.23
3.38
3.66
  
4th qtr.
15.74
18.32
17.28
17.60
Year 2007
34.33
38.57
36.48
39.42
  
Year 2006
33.55
36.53
29.18
32.17
2008
 
 
 
 
  
2005
        
January    
-8.19
-8.19
-12.59
-12.74
  
1st qtr.
2.07
2.07
1.20
1.80
February
4.84
4.84
7.25
7.39
  
2nd qtr.
5.91
5.91
3.00
4.12
March      
-3.24
-3.24
-5.40
-5.39
  
3rd qtr.
16.33
16.33
17.01
17.95
1st qtr.    
-6.87
-6.87
-11.32
-11.35
  
4th qtr.
7.20
10.03
6.83
7.18
 
 
  
Year 2005
34.79
38.35
30.31
34.00
Lifetime return
 
 
 
  
2004
        
Cumulative%
2,892.00
4,504.92
__
__
  
1st qtr.
9.13
9.13
8.87
9.59
Annualized%
16.84
19.17
__
__
  
2nd qtr.
-10.98
-10.98
-10.34
-9.64
 
 
         3rd qtr. 
 7.65
 7.65
7.39
 8.14
 
 
         4th qtr. 
 13.66
 15.45
 16.81
 17.24
 
 
  
 
 
  
Year 2004
18.87
 20.74
22.45
25.55
 
 
 
 
  
 
 
 
 
                     
 
 
 
 
 
  
 
 
 
 
 
 
 
 
            
Figures shown above are past results and do not predict future results.  Current results may be lower or higher than those shown.  Share prices and returns will vary, so you may lose money.  Investing for short periods makes loses more likely.  Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity.  For more current information and month-end results, call 800-421-0180, extension 96245.
                     
                     
1Total return percentages are calculated from net asset value assuming all dividends are reinvested.
 
 
 
 
2The inception date is 1/1/88.
 
 
 
 
 
 
3MSCI Emerging Markets Index
4Reflects MSCI Emerging Markets Index with gross dividends reinvested from inception through 12/31/00, MSCI Emerging Markets Index with net dividends reinvested  through 11/30/07, and MSCI Emerging Markets Investable Markets Index with net dividends reinvested thereafter.
 
 
Investment results
             
Emerging Markets Growth Fund (Lifetime: 5/31/86 - 3/31/08)
            
                     
                     
 
         EMGF
           Index2
 
 
         EMGF
          Index2
 
  Dividends
Dividends
  Dividends
Dividends
 
 
  Dividends
Dividends
  Dividends
Dividends
 
in cash %
reinvested %1
in cash %3
reinvested %4
 
 
in cash %
reinvested %1
 in cash %3
reinvested %4
2003
          
2000
 
 
 
 
1st qtr.
-6.12
-6.12
-6.79
-6.00
 
1st qtr.
7.78
7.78
2.04
2.42
2nd qtr.
22.60
22.60
22.19
23.29
 
2nd qtr.
-10.29
-10.29
-10.79
-10.16
3rd qtr.
14.62
14.62
13.51
14.15
 
3rd qtr.
-14.86
-14.86
-13.35
-13.00
4th qtr.
12.42
14.85
17.25
17.78
 
4th qtr.
-16.76
-16.16
-13.53
-13.32
Year 2003
48.31
51.51
51.59
55.82
 
Year 2000
-31.48
-30.98
-31.80
-30.61
2002
          
1999
        
1st qtr.
10.63
10.63
10.72
11.34
  
1st qtr.
13.37
13.37
11.96
12.44
2nd qtr.
-12.53
-12.53
-9.01
-8.44
  
2nd qtr.
20.80
20.80
23.62
24.40
3rd qtr.
-16.67
-16.67
-16.78
-16.35
  
3rd qtr.
-3.01
-3.01
-5.50
-5.15
4th qtr.
10.34
11.71
9.76
10.04
 
4th qtr.
31.90
33.96
25.15
25.44
Year 2002
-11.04
-9.93
-7.97
-6.17
  
Year 1999
75.19
77.93
63.70
66.41
2001
 
 
 
 
  
1998
        
1st qtr.
-7.44
-7.44
-6.19
-5.50
  
1st qtr.
5.26
5.26
5.71
6.19
2nd qtr.
6.99
6.99
3.11
3.93
  
2nd qtr.
-20.34
-18.95
-24.20
-23.60
3rd qtr.
-24.91
-24.91
-22.14
-21.66
  
3rd qtr.
-21.89
-21.89
-22.89
-22.01
4th qtr.
27.90
29.86
26.26
26.58
  
4th qtr.
12.73
12.73
17.30
17.99
Year 2001
-4.89
-3.43
-4.91
-2.61
  
Year 1998
-26.17
-24.88
-27.52
-25.34
1997
          
1994
 
 
 
 
1st qtr.
10.76
10.76
8.04
8.47
  
1st qtr.
-2.04
-2.04
-9.30
-9.04
2nd qtr.
15.37
16.60
7.68
8.56
  
2nd qtr.
-5.24
-4.83
-2.05
-1.44
3rd qtr.
-1.10
-1.10
-9.40
-8.97
  
3rd qtr.
24.02
24.02
20.47
20.76
4th qtr.
-16.49
-14.15
-17.84
-17.52
  
4th qtr.
-15.05
-14.82
-14.67
-14.39
Year 1997
5.53
9.66
-13.40
-11.59
  
Year 1994
-2.21
-1.52
-8.67
-7.32
1996
          
1993
        
1st qtr.
7.88
7.88
5.77
6.23
  
1st qtr.
9.64
9.64
5.20
5.55
2nd qtr.
6.14
7.86
3.35
4.18
  
2nd qtr.
8.26
9.31
7.10
8.27
3rd qtr.
-2.26
-2.26
-4.08
-3.62
  
3rd qtr.
12.61
12.61
14.84
15.38
4th qtr.
0.43
2.32
-0.89
-0.59
  
4th qtr.
27.44
27.95
32.36
32.60
Year 1996
12.40
16.37
3.92
6.03
  
Year 1993
70.35
72.69
71.26
74.84
1995
 
 
 
 
  
1992
        
1st qtr.
-16.54
-16.54
-12.74
-12.38
  
1st qtr.
20.17
20.17
20.01
20.48
2nd qtr.
11.07
12.04
9.67
10.37
  
2nd qtr.
-8.65
-7.85
-11.85
-10.87
3rd qtr.
2.20
2.20
-1.06
-0.64
  
3rd qtr.
-0.54
-0.54
-3.75
-3.30
4th qtr.
-3.59
-2.88
-1.72
-1.35
  
4th qtr.
1.63
1.98
7.09
7.28
Year 1995
-8.66
-7.19
-6.94
-5.21
  
Year 1992
10.95
12.32
9.05
11.40
1991
          
1988
 
 
 
 
1st qtr.
23.75
23.75
28.66
29.17
  
1st qtr.
19.34
19.34
20.64
22.05
2nd qtr.
11.36
12.71
3.79
5.09
  
2nd qtr.
14.87
15.69
10.83
12.18
3rd qtr.
1.96
1.96
2.66
3.28
  
3rd qtr.
5.07
5.07
0.02
0.99
4th qtr.
14.22
14.90
13.77
14.05
  
4th qtr.
-3.41
-2.12
0.85
1.56
Year 1991
60.48
63.39
55.97
59.91
  
Year 1988
39.13
41.98
34.87
40.43
1990
          
1987
        
1st qtr.
-5.68
-5.68
-7.85
-7.18
  
1st qtr.
11.32
11.32
—
—
2nd qtr.
12.17
13.89
18.85
20.03
  
2nd qtr.
23.33
25.30
—
—
3rd qtr.
-16.73
-16.73
-17.88
-17.19
  
3rd qtr.
8.70
8.70
—
—
4th qtr.
-0.23
1.67
-4.10
-3.05
  
4th qtr.
-18.98
-18.14
—
—
Year 1990
-12.11
-9.05
-13.76
-10.55
  
Year 1987
20.91
24.13
—
—
1989
 
 
 
 
  
1986
        
1st qtr.
16.44
16.44
15.66
16.88
  
1 mo. To 6/30
0.60
0.60
—
—
2nd qtr.
21.71
23.16
4.68
5.95
  
3rd qtr.
3.68
4.15
—
—
3rd qtr.
21.72
21.72
21.86
22.80
  
4th qtr.
6.71
6.71
—
—
4th qtr.
10.14
11.29
7.90
8.48
  
Year 1986
 
 
 
 
Year 1989
89.99
94.26
59.19
64.96
  
(5/30-12/31)
11.30
11.80
—
—
 
 
 
 
 
            
                     
Figures shown above are past results and do not predict future results.  Current results may be lower or higher than those shown.  Share prices and returns will vary, so you may lose money.  Investing for short periods makes loses more likely.  Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity.  For more current information and month-end results, call 800-421-0180, extension 96245.
                     
                     
1Total return percentages are calculated from net asset value assuming all dividends are reinvested.
 
 
 
 
2The inception date is 1/1/88.
 
 
 
 
 
 
3MSCI Emerging Markets Index.
4Reflects MSCI Emerging Markets Index with gross dividends reinvested from inception through 12/31/00, MSCI Emerging Markets Index with net dividends reinvested  through 11/30/07, and MSCI Emerging Markets Investable Markets Index with net dividends reinvested thereafter.
  
 
 
Investment results
               
Emerging Markets Growth Fund
             
                 
                 
 
Results as of March 31, 2008
               
 
               
 
 
20 years
15 years
10 years
5 years
3 years
1 year
1Q08
 
 
%
%
%
%
%
%
 %
 
Emerging Markets Growth Fund
                
              - gross of operating expenses
19.09
14.23
13.81
37.50
34.59
24.41
-6.71
 
              - net of operating expenses
18.09
13.38
13.02
36.56
33.67
23.60
-6.87
 
                 
MSCI Emerging Markets IMI with net dividends reinvested
14.38
10.71
12.25
35.43
29.08
20.88
-11.35
 
                 
MSCI World Index with net dividends
8.09
8.83
4.96
16.43
10.08
-2.90
-8.98
 
                 
MSCI EAFE Index with net dividends
6.40
8.29
6.43
21.71
13.58
-2.53
-8.88
 
                 
S&P 500 Index with income reinvested
10.90
9.43
3.50
11.31
5.84
-5.08
-9.44
 
                 
                 
Results are in US$. Periods greater than one year are annualized.
Gross of operating expenses reflect the investment results of the Emerging Markets Growth Fund after adding back fund operating expenses, such as custodial and investment management fees.
Net of operating expenses total return percentages are calculated from net asset value assuming all distributions are reinvested.    
MSCI Emerging Markets IMI with net dividends reinvested reflects MSCI Emerging Markets Index with gross dividends reinvested from inception through 12/31/00, MSCI Emerging Markets Index with net dividends reinvested through 11/30/07, and MSCI Emerging Markets Investable Market Index with net dividends reinvested thereafter.
MSCI World Index with net dividends for U.S. pension plans, charitable trusts, and educational institutions (calucated by Capital International S.A.)
MSCI EAFE Index with net dividends for U.S. pension plans, charitable funds, and educational institutions (calculated by Capital International S.A.)
All indices are unmanaged.
    
 
Investment results
               
Emerging Markets Growth Fund
             
                 
                 
 
Results as of March 31, 2008
               
 
               
 
 
20 years
15 years
10 years
5 years
3 years
1 year
1Q08
 
 
%
%
%
%
%
%
 %
 
Emerging Markets Growth Fund
                
              - gross of operating expenses
19.09
14.23
13.81
37.50
34.59
24.41
-6.71
 
              - net of operating expenses
18.09
13.38
13.02
36.56
33.67
23.60
-6.87
 
                 
MSCI Emerging Markets IMI with net dividends reinvested
14.38
10.71
12.25
35.43
29.08
20.88
-11.35
 
                 
MSCI World Index with net dividends
8.09
8.83
4.96
16.43
10.08
-2.90
-8.98
 
                 
MSCI EAFE Index with net dividends
6.40
8.29
6.43
21.71
13.58
-2.53
-8.88
 
                 
S&P 500 Index with income reinvested
10.90
9.43
3.50
11.31
5.84
-5.08
-9.44
 
                 
                 
Figures shown above are past results and do not predict future results.  Current results may be lower or higher than those shown.  Share prices and returns will vary, so you may lose money.  Investing for short periods makes loses more likely.  Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity.  For more current information and month-end results, call 800-421-0180, extension 96245. 
                 
                 
Results are in US$. Periods greater than one year are annualized.
Gross of operating expenses reflect the investment results of the Emerging Markets Growth Fund after adding back fund operating expenses, such as custodial and investment management fees.
Net of operating expenses total return percentages are calculated from net asset value assuming all distributions are reinvested.    
MSCI Emerging Markets IMI with net dividends reinvested reflects MSCI Emerging Markets Index with gross dividends reinvested from inception through 12/31/00, MSCI Emerging Markets Index with net dividends reinvested through 11/30/07, and MSCI Emerging Markets Investable Market Index with net dividends reinvested thereafter.
MSCI World Index with net dividends for U.S. pension plans, charitable trusts, and educational institutions (calucated by Capital International S.A.)
MSCI EAFE Index with net dividends for U.S. pension plans, charitable funds, and educational institutions (calculated by Capital International S.A.)
All indices are unmanaged.
    
 
Diversification by sector and industry
      
Emerging Markets Growth Fund, Inc.
              
                 
 
% Total portfolio
% Total portfolio
% Index1
    
% Total portfolio
% Total portfolio
% Index1
 
12/31/07
3/31/08
3/31/08
    
12/31/07
3/31/08
3/31/08
ENERGY
11.1
9.3
15.7
  
HEALTH CARE
1.3
1.4
2.0
ENERGY EQUIPMENT & SERVICES
0.6
0.8
0.4
  
HEALTH CARE EQUIPMENT & SUPPLIES
0.0
0.0
0.1
OIL GAS & CONSUMABLE FUELS
10.5
8.5
15.3
  
HEALTH CARE PROVIDERS & SERVICES
0.5
0.4
0.2
MATERIALS
16.0
16.1
15.8
  
PHARMACEUTICALS
0.8
1.0
1.7
CHEMICALS
2.6
1.8
2.5
  
FINANCIALS
11.4
9.2
21.0
CONSTRUCTION MATERIALS
3.5
4.1
1.6
  
COMMERCIAL BANKS
6.7
5.2
13.5
CONTAINERS & PACKAGING
0.0
0.0
0.1
  
THRIFTS & MORTGAGE FINANCE
0.6
0.5
0.4
METALS & MINING
9.3
9.7
11.1
  
DIVERSIFIED FINANCIAL SERVICES
0.5
0.4
1.8
PAPER & FOREST PRODUCTS
0.6
0.5
0.5
  
CONSUMER FINANCE
0.0
0.0
0.1
INDUSTRIALS
11.3
11.3
9.8
  
CAPITAL MARKETS
0.1
0.1
1.0
AEROSPACE & DEFENSE
0.6
0.5
0.2
  
INSURANCE
0.7
0.4
2.2
BUILDING PRODUCTS
0.0
0.0
0.2
  
REAL ESTATE INVESTMENT TRUSTS (REITS)
0.1
0.1
0.1
CONSTRUCTION & ENGINEERING
6.6
6.1
2.4
  
REAL ESTATE MANAGEMENT & DEVELOPMENT
 2.7 2.5
1.9
ELECTRICAL EQUIPMENT
1.7
2.2
0.7
  
 
 
 
 
INDUSTRIAL CONGLOMERATES
1.0
0.9
2.1
  
INFORMATION TECHNOLOGY
11.4
12.2
10.9
MACHINERY
0.2
0.2
1.5
  
INTERNET SOFTWARE & SERVICES
0.4
0.5
0.3
TRADING COMPANIES & DISTRIBUTORS
0.0
0.0
0.4
  
IT SERVICES
0.4
0.3
1.0
COMMERCIAL SERVICES & SUPPLIES
0.0
0.0
0.1
  
SOFTWARE
0.0
0.0
0.3
AIR FREIGHT & LOGISTICS
0.1
0.1
0.1
  
COMMUNICATIONS EQUIPMENT
0.2
0.1
0.2
AIRLINES
0.2
0.1
0.4
  
COMPUTERS & PERIPHERALS
1.4
1.5
1.6
MARINE
0.1
0.2
0.9
  
ELECTRONIC EQUIPMENT & INSTRUMENTS
3.6
3.2
2.4
ROAD & RAIL
0.0
0.0
0.2
  
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT
5.4
6.6
5.1
TRANSPORTATION INFRASTRUCTURE
0.8
1.0
0.6
  
TELECOMMUNICATION SERVICES
12.5
13.5
10.6
CONSUMER DISCRETIONARY
9.1
8.1
6.0
  
DIVERSIFIED TELECOMMUNICATION SERVICES
2.9
4.4
3.5
AUTO COMPONENTS
0.8
0.6
0.4
  
WIRELESS TELECOMMUNICATION SERVICES
9.6
9.1
7.1
AUTOMOBILES
0.5
0.6
1.0
  
UTILITIES
1.9
2.6
3.4
HOUSEHOLD DURABLES
0.0
0.1
1.1
  
ELECTRIC UTILITIES
1.4
1.9
1.9
LEISURE EQUIPMENT & PRODUCTS
0.2
0.1
0.2
  
GAS UTILITIES
0.0
0.2
0.4
TEXTILES, APPAREL, & LUXURY GOODS
0.8
0.6
0.4
  
MULTI UTILITIES
0.0
0.0
0.1
HOTELS, RESTAURANTS & LEISURE
1.2
1.2
0.6
  
WATER UTILITIES
0.2
0.1
0.2
DIVERSIFIED CONSUMER SERVICES
0.3
0.2
0.1
  
INDEPENDENT POWER PROD & ENERGY TRADERS
0.3
0.4
0.8
MEDIA
1.6
1.4
1.0
  
OTHER
1.2
1.2
0.0
DISTRIBUTORS
0.3
0.3
0.2
  
EMERGING MARKET FUNDS/PARTNERSHIPS
1.2
1.2
0.0
INTERNET & CATALOG RETAIL
0.8
0.5
0.1
          
MULTILINE RETAIL
0.7
0.8
0.5
  
Total equity
93.9
90.7
100.0
SPECIALTY RETAIL
1.9
1.7
0.4
  
Total fixed income
0.4
0.9
  
CONSUMER STAPLES
6.7
5.8
4.8
  
Total cash and equivalents
5.7
8.4
  
FOOD & STAPLES RETAILING
1.1
1.2
1.1
  
Total assets
100.0
100.0
  
BEVERAGES
2.2
1.9
1.0
          
FOOD PRODUCTS 2.9 2.3 1.7          
TOBACCO 0.2 0.2 0.5          
HOUSEHOLD PRODUCTS 0.3 0.2 0.3          
PERSONAL PRODUCTS 0.0 0.0 0.2          
                 
1MSCI Emerging Markets IMI 
                
 
Fund profile
                           
Emerging Markets Growth Fund as of March 31, 2008
                    
                             
The Fund (began operations in 1986)
                            
                             
 ■ Special Characteristics: For the institutional investor seeking to diversify in emerging markets both geographically and by industry sector. The fund is a U.S. domiciled
     open-end interval fund and redeems on a monthly basis. The fund operated as a closed-end fund until July 1, 1999.    
        
 ■ Objective: Seeks long-term growth of capital through investments in developing countries all over the world.   
            
 ■ Types of Investments: Invests in common stocks, securities convertible to common stock, bonds, and cash.     
        
 ■ Investment Advisory Fee: For its services, the Manager receives from the Fund a fee, payable monthly in U.S. dollars, at the annual rate of 0.90% of the first $400 million of aggregate net assets of the Fund. The annual rate is reduced to 0.80% of the aggregate net assets from $400 million to $1 billion; to 0.70% of the aggregate net assets from $1 billion to $2 billion; to 0.65% of the aggregate net assets from $2 billion to $4 billion; to 0.625% of the aggregate net assets from $4 billion to $6 billion; to 0.60% of the aggregate net assets from $6 billion to $8 billion; to 0.58% of the aggregate net assets from $8 billion to $11 billion; to 0.56% of the aggregate net assets from $11 billion to $15 billion; to 0.54% of the aggregate net assets from $15 billion to $20 billion; to 0.52% of such aggregate net assets in excess of $20 billion as determined on the last business day of every week and month.         
 
    
 
 
 
 
  
 
    
 
      
Fund characteristics        
  
Largest individual holdings (% of portfolio)    
Fiscal years ending June 30  
       2007
 2006
2005
2004
2003
  
América Móvil
   
3.7
Fund assets ($ millions)  
      
$15,380
$11,100
$13,632
$15,758
$16,154
  
Taiwan Semiconductor Manufacturing
  
3.0
Ratio of net investment income to average net assets   
    
1.39%
1.57%
 1.96%
 1.64%
 2.14%
 
Samsung Electronics
  
2.8
Expense ratio (including non-U.S. taxes)  
      
0.70%
  0.72%
 0.71%
 0.71%
0.70%
  
Telekomunikasi Indonesia
  
2.0
Portfolio turnover  
      
52.19%
 38.48%
 29.98%
35.35%
33.70%
  
Hon Hai Precision Industry
  
1.8
Largest industy holdings (% of portfolio)
    
Largest country holdings (% of portfolio)     
  
Gazprom
    
1.7
Metals and Mining    
9.7
  
Taiwan
    
11.0
  
OCI
    
1.4
Wireless telecommunication services
9.1
  
China
        
9.3
  
Taiwan Cement
  
1.4
Oil, gas & consumable fuels
8.5
  
Russian Federation
      
9.2
  
Rosneft
      
1.2
Construction & engineering
6.1
  
South Korea
      
8.8
  
Evraz
    
1.2
Commercial banks
5.2
  
Brazil
  
 
  
6.5
          
 
 
  
 
 
 
 
                
Rates of return for periods ending March 31, 20081   
            
Asset mix
        
                           
 Total
 
20 years
  
15 years
10 years
5 years
 3 years
 1 year 
1Q08
  
Stocks  
Bonds  
Cash  
  
 assets
EMGF
18.09%
  
13.38%
13.02%
36.56%
33.67%
23.60%
-6.87%
  
90.7%
0.9%
8.4%
  
$14.8bil
                             
                             
 Results are in US$.                            
1Net of operating expenses. Total returns (expressed as percentages) are calculated from change in the fund's net asset value, assuming all distributions reinvested. Results for periods greater than one year are annualized. This profile must be accompanied or preceded by a current prospectus for the fund. The Fund is an open-end interval fund that redeems fund shares on a monthly basis. Please read the fund's prospectus for additional information on the fund's redemption policy. 
                             
                             
 
Fund profile
                           
Emerging Markets Growth Fund as of March 31, 2008
                    
                             
The Fund (began operations in 1986)
                            
                             
 ■ Special Characteristics: For the institutional investor seeking to diversify in emerging markets both geographically and by industry sector. The fund is a U.S. domiciled
     open-end interval fund and redeems on a monthly basis. The fund operated as a closed-end fund until July 1, 1999.    
        
 ■ Objective: Seeks long-term growth of capital through investments in developing countries all over the world.   
            
 ■ Types of Investments: Invests in common stocks, securities convertible to common stock, bonds, and cash.     
        
 ■ Investment Advisory Fee: For its services, the Manager receives from the Fund a fee, payable monthly in U.S. dollars, at the annual rate of 0.90% of the first $400 million of aggregate net assets of the Fund. The annual rate is reduced to 0.80% of the aggregate net assets from $400 million to $1 billion; to 0.70% of the aggregate net assets from $1 billion to $2 billion; to 0.65% of the aggregate net assets from $2 billion to $4 billion; to 0.625% of the aggregate net assets from $4 billion to $6 billion; to 0.60% of the aggregate net assets from $6 billion to $8 billion; to 0.58% of the aggregate net assets from $8 billion to $11 billion; to 0.56% of the aggregate net assets from $11 billion to $15 billion; to 0.54% of the aggregate net assets from $15 billion to $20 billion; to 0.52% of such aggregate net assets in excess of $20 billion as determined on the last business day of every week and month.         
 
    
 
 
 
 
  
 
    
 
      
Fund characteristics        
  
Largest individual holdings (% of portfolio)    
Fiscal years ending June 30  
       2007
 2006
2005
2004
2003
  
América Móvil
   
3.7
Fund assets ($ millions)  
      
$15,380
$11,100
$13,632
$15,758
$16,154
  
Taiwan Semiconductor Manufacturing
  
3.0
Ratio of net investment income to average net assets   
    
1.39%
1.57%
 1.96%
 1.64%
 2.14%
 
Samsung Electronics
  
2.8
Expense ratio (including non-U.S. taxes)  
      
0.70%
  0.72%
 0.71%
 0.71%
0.70%
  
Telekomunikasi Indonesia
  
2.0
Portfolio turnover  
      
52.19%
 38.48%
 29.98%
35.35%
33.70%
  
Hon Hai Precision Industry
  
1.8
Largest industy holdings (% of portfolio)
    
Largest country holdings (% of portfolio)     
  
Gazprom
    
1.7
Metals and Mining    
9.7
  
Taiwan
    
11.0
  
OCI
    
1.4
Wireless telecommunication services
9.1
  
China
        
9.3
  
Taiwan Cement
  
1.4
Oil, gas & consumable fuels
8.5
  
Russian Federation
      
9.2
  
Rosneft
      
1.2
Construction & engineering
6.1
  
South Korea
      
8.8
  
Evraz
    
1.2
Commercial banks
5.2
  
Brazil
  
 
  
6.5
          
 
 
  
 
 
 
 
                
Rates of return for periods ending March 31, 20081   
            
Asset mix
        
                           
 Total
 
20 years
  
15 years
10 years
5 years
 3 years
 1 year 
1Q08
  
Stocks  
Bonds  
Cash  
  
 assets
EMGF
18.09%
  
13.38%
13.02%
36.56%
33.67%
23.60%
-6.87%
  
90.7%
0.9%
8.4%
  
$14.8bil
                             
                             
 Results are in US$.                            
1Net of operating expenses. Total returns (expressed as percentages) are calculated from change in the fund's net asset value, assuming all distributions reinvested. Results for periods greater than one year are annualized. This profile must be accompanied or preceded by a current prospectus for the fund. The Fund is an open-end interval fund that redeems fund shares on a monthly basis. Please read the fund's prospectus for additional information on the fund's redemption policy. 
                             
Figures shown above are past results and do not predict future results.  Current results may be lower or higher than those shown. Share prices and returns will vary, so you may lose money. Investing for short periods makes losses more likely. Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity.  For more current information and month-end results, call 800-421-0180 ext. 96245.  
 
                             
-----END PRIVACY-ENHANCED MESSAGE-----