American Funds U.S. Government Securities Fund® Class F-2 GVTFX

Capital Group announced that comanager David Betanzos will retire from American Funds U.S. Government Securities and the firm effective Dec. 1, 2026. This news does not affect the strategy’s High People and Above Average Process Pillar ratings or its Morningstar Medalist Ratings across share classes. A Capital Group veteran of more than two decades, Betanzos has served as a named manager on the strategy since 2015. Consistent with Capital Group’s multimanager approach, Betanzos oversees a sleeve of the strategy’s USD 24 billion portfolio, combining Treasuries and agency mortgage-backed securities. The ample lead time of this retirement announcement to ensure a smooth transition and strong supporting resources don’t dent our confidence in this team. The remaining managers will stay in place, with principal investment officer Fergus MacDonald continuing to lead the strategy. MacDonald and comanagers Ritchie Tuazon and Pratyoosh Pratyoosh will absorb Betanzos’ sleeve. Pratyoosh will likely assume a larger allocation than the 13% of assets he managed as of March 2026. An agency mortgage-backed securities specialist, Pratyoosh became a named comanager in November 2025 and currently oversees a smaller sleeve than the other managers. Although he is relatively new as a named manager on this strategy, he has managed portfolios since 2023 as part of the research-managed sleeve.