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American High-Income Municipal Bond F3 HIMFX

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Portfolio Manager Changes at American High-Income Municipal Bond Fund Do Not Change Its Ratings

Associate Director

Analyst Note

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Effective Oct. 1, 2021, Courtney Wolf will be disclosed as a named portfolio manager on American Funds American High-Income Municipal Bond. Wolf joined Capital Group in 2005 from Northwestern University. Among her positions at the firm, she served as a fixed-income investment analyst primarily covering municipal bonds in the airport and tobacco settlement sectors. She was also named on the firm’s Tax-Exempt Bond Fund of America in October 2020 as a portfolio manager. She joins veteran managers Chad Rach and Jerry Solomon on the strategy; they have been managing this effort since 2011 and 2017, respectively. Karl J. Zeile, portfolio manager on this strategy since 2004, will step away from this effort but will continue to manage Tax-Exempt Bond Fund of America and Tax-Exempt Fund of California. The shifting assignments to the existing portfolio management team do not change the strategies' Morningstar Analyst Ratings.

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