American Funds® Retirement Income Portfolio — Conservative (NABRX)

The fund strives for the accomplishment of three investment objectives: current income, long-term growth of capital and conservation of capital, with an emphasis on income and conservation of capital.

The fund will invest in a mix of American Funds in varying combinations and weightings over time. The Conservative Portfolio is designed to produce current income with somewhat less volatility than the other two portfolios in the American Funds Retirement Income Portfolio Series. This approach is likely to lead to less downside risk, but also currently offers investors a lower level of current income and long-term growth potential.

The underlying American Funds will typically seek to generate income from their investments, as the Conservative Portfolio is weighted more toward fixed-income securities and will also consist of equity-income and balanced funds. The fund may also invest in growth-and-income funds. Through its investments in the underlying funds, the fund will have significant exposure to fixed-income securities and to dividend-paying common stocks.