Capital Group KKR Multi-Sector+

The fund’s investment objective is to provide a high level of current income.

In public markets, the fund normally invests across three primary sectors: high-yield corporate debt, investment grade corporate debt and securitized debt. Private credit assets will normally focus on two primary investment strategies: corporate direct lending and asset-based finance. The fund may invest substantially in lower rated debt instruments, which are securities rated Ba1 or below and BB+ or below by Nationally Recognized Statistical Ratings Organizations designated by the Adviser or the Sub-Adviser, or in securities that are unrated but determined to be of equivalent quality by the Adviser or the Sub-Adviser, in each case at the time of purchase. Such securities, which will include the fund’s investments in high-yield corporate debt as described above, are sometimes referred to as “junk bonds.”

The fund seeks to offer strategic exposure to higher income-focused sectors in the public and private fixed income markets with a target, under normal circumstances, of approximately 60% of assets to be invested in public credit assets and approximately 40% of assets to be invested across higher income seeking private credit sectors. Such allocation between public and private credit may fluctuate (potentially significantly) depending on market conditions and the fund’s subscription and repurchase activities.

The Fund may invest up to 20% of its net assets in securities tied economically to countries outside the U.S., including emerging markets. The fund may also invest up to 10% of its net assets in securities denominated in currencies other than the U.S. dollar.

There are no restrictions on the maturity or duration composition of the portfolio. The fund invests in debt securities with a wide range of maturities or duration.

The fund expects to make repurchase offers on a quarterly basis. The fund currently conducts quarterly repurchase offers for up to 10% of its outstanding shares under ordinary circumstances, subject to approval of the board. To the extent more than 10% of outstanding shares are tendered for repurchase, the redemption proceeds are generally distributed proportionately to redeeming investors (“proration”). Due to this repurchase limit, shareholders may be unable to liquidate all or a portion of their investment during a particular repurchase offer window. Written notification of each quarterly repurchase offer will be sent to shareholders around thirty (30) days before the date by which shareholders can tender their shares in response to a repurchase offer.