American Funds® 2065 Target Date Retirement Fund

Retirement Target Date

Overview

American Funds 2065 Target Date Retirement Fund may be appropriate for investors seeking:

A prudent way to save for retirement in a single fund
An investment that adjusts over time to meet their changing needs
A portfolio of American Funds designed for someone retiring around 2065

Objective

Depending on the proximity to its target date, which we define as the year that corresponds roughly to the year in which the investor expects to retire, the fund will seek to achieve the following objectives to varying degrees: growth, income and conservation of capital. The fund will increasingly emphasize income and conservation of capital by investing a greater portion of its assets in fixed income, equity-income and balanced funds as it approaches and passes its target date. In this way, the fund seeks to balance total return and stability over time.

Manager

The fund is managed by Capital Research and Management Company, one of the nation’s oldest, largest investment management firms. Since 1931, Capital Research has invested with a long-term focus based on thorough research and attention to risk.

Fund information

Began operations: 3/27/20
Expense ratio:* 0.39%
Investment expenses paid annually:† $3.90 for a $1,000 balance

Ticker symbol: RFVTX

*The investment adviser is currently reimbursing a portion of the other expenses, without which net expense ratios would have been higher. This reimbursement will be in effect through at least January 1, 2021. The adviser may elect at its discretion to extend, modify or terminate the reimbursement at that time. The expense ratios are estimated as of each fund’s prospectus and include the weighted average expenses of the underlying funds. Please see the fund’s most recent prospectus for details.
†You can estimate the investment expenses you’re paying annually by multiplying your balance in the fund by the net expense ratio.

Underlying funds

(as of 6/30/24; percentage of net assets; holdings are subject to change)

Growth 48.0%

Growth-and-income 37.2%

American Mutual Fund® 5.0%
Capital World Growth and Income Fund® 8.3%
Fundamental Investors® 9.0%
The Investment Company of America® 7.0%
Washington Mutual Investors Fund 8.0%

Equity-income/Balanced 9.0%

American Balanced Fund® 6.0%
American Funds® Global Balanced Fund 3.0%

Bond 5.8%

Past results

The bar graph below shows the fund’s annual results and illustrates the fund’s fluctuations over the past 10 years. (These percentages are based on Class R-6 shares at net asset value after the share class inception date of May 1, 2009. All Class R-6 share results prior to this date, or prior to the date of first sale, are hypothetical based on Class A share results, adjusted for typical estimated expenses, and are calculated without a sales charge. These results are updated annually as of 12/31. Other share class results will vary.)

Figures shown are past results and are not predictive of results in future periods. Current and future results may be lower or higher than those shown here. For more current information and month-end results, click here. Share price and return will vary, so you may lose money. Investing for short periods makes losses more likely.

Because the fund had not commenced investment operations as of December 31, 2019, information regarding investment results is not shown for that period.

Average annual total returns through 6/30/24

Class R-6 Shares

	Latest10 years	Latest5 years	Latest3 years	Latestyear
At net asset value	N/A	15.55%	4.21%	18.44%

Investment results assume all distributions are reinvested and reflect applicable fees and expenses.The investment adviser is currently reimbursing a portion of the other expenses, without which the results would have been lower. This reimbursement will be in effect through at least January 1, 2021. The adviser may elect at its discretion to extend, modify or terminate the reimbursement at that time. Read details about how waivers and/or reimbursements affect the results for each fund.

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