No. Allowing new investors to transfer assets into American Funds at net asset value would be unfair to existing clients who have paid the appropriate sales charge. It is important to remember, however, that American Funds offers a series of breakpoints on investments starting at $25,000 that can substantially reduce or eliminate the sales charge. In addition, sales charges can be reduced through rights of accumulation or by purchasing under a statement of intention. Purchases that qualify for NAV are outlined in the funds’ prospectuses. Since transfer from other fund families is not included in the prospectus as a means of purchasing without a sales charge, American Funds Distributors® cannot make exceptions to this policy.