UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 14A INFORMATION

Proxy Statement Pursuant to Section 14(a) of the Securities
Exchange Act of 1934
(Amendment No. )

Filed by the Registrant [X]
Filed by a Party other than the Registrant [  ]
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[  ]Preliminary Proxy Statement
[  ]Confidential, for the Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
[X]Definitive Proxy Statement
[  ]Definitive Additional Materials
[  ]Soliciting Material Pursuant to §240.14a-12
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American Balanced Fund, Inc.
Fundamental Investors, Inc.
The Growth Fund of America, Inc.
The Income Fund of America, Inc
The Investment Company of America
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Check the appropriate box:
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[  ]   Definitive Proxy Statement
[X]   Definitive Additional Materials
[  ]   Soliciting Material Pursuant to Section 240.14a-12

AMCAP Fund, Inc.
American Balanced Fund, Inc.
The American Funds Income Series
American Funds Money Market Fund
American Funds Short-Term Tax-Exempt Bond Fund
American Funds Target Date Retirement Series, Inc.
The American Funds Tax-Exempt Series I
The American Funds Tax-Exempt Series II
American High-Income Municipal Bond Fund, Inc.
American High-Income Trust
American Mutual Fund, Inc.
The Bond Fund of America, Inc.
Capital Income Builder, Inc.
Capital World Bond Fund, Inc.
Capital World Growth and Income Fund, Inc.
EuroPacific Growth Fund
Fundamental Investors, Inc.
The Growth Fund of America, Inc.
The Income Fund of America, Inc.
Intermediate Bond Fund of America
International Growth and Income Fund, Inc.
The Investment Company of America
Limited Term Tax-Exempt Bond Fund of America
The New Economy Fund
New Perspective Fund, Inc.
New World Fund, Inc.
Short-Term Bond Fund of America, Inc.
SMALLCAP World Fund, Inc.
The Tax-Exempt Bond Fund of America, Inc.
Washington Mutual Investors Fund, Inc.

(Name of Registrant as Specified In Its Charter)

(Name of Person(s) Filing Proxy Statement, other than the Registrant)


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           pursuant to Exchange Act Rule 0-11 (set forth the amount on which
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Material from the American Funds retail and retirement websites

Thoughts from American Funds on this historic proxy vote
Tim Armour, president of Capital Research and Management CompanySM, the investment adviser to the American Funds, discusses the reasons behind the current vote and the importance of casting your ballot.

[Video Transcript]

Hello, I’m Tim Armour, president of Capital Research and Management Company, the investment adviser to the American Funds. I’d like to take a moment and talk with you about the proxy materials that American Funds recently sent its shareholders.

Let me start by saying a little about why we’re holding this vote. I’ll also discuss the issues and why they’re important and I’ll close by explaining how you can vote.

We’re holding this vote in large part because shareholders need to elect members of the funds’ boards. And since we’re asking you to elect board members, we thought it made sense to ask you to approve some other proposals as well. We think the proposals will make the funds more flexible and efficient and may reduce some fund expenses in the future.

First, we’re asking shareholders to approve organizing all of the American Funds as Delaware statutory trusts.  The funds currently are organized under various state laws. We think that having them all organized in one state will be more efficient and could reduce fund expenses over time.

We’re also asking shareholders to approve changes that will modernize our funds’ fundamental investment policies. Most of the American Funds were organized back when individual states had rules about mutual funds’ investment policies. But now that the U.S. Securities and Exchange Commission regulates these policies, these state rules no longer apply. We can’t change our funds’ outdated state policies without shareholder approval, so we’re asking you to approve streamlining and modernizing the fundamental investment policies of the funds.

There are several other issues on the ballot as well, including approval of the legal agreements between the funds and Capital Research and Management Company.

I urge you to learn more about all the proposals using the resources on this website.

Your vote is very important and we’ve tried to make voting easy. You can vote via the Web, by phone or by mailing a paper ballot.

The most important thing, though, is simply to vote. And please be sure to vote for each fund you own. Remember, technically speaking, each fund is holding its own election. So, if you own more than one fund, you may have received more than one ballot.

And, if you have more than one account — say, a taxable retail account and an IRA — you’ll receive a ballot for each account.  We realize this could mean you’ll be casting a lot of votes. To simplify the process, you do have the option of checking a single box on each ballot to vote consistent with the recommendation of the fund board on every issue.

Finally, I want to ask you to vote early. In fact, if you haven’t voted, you may get a call urging you to cast your ballot. I apologize for any inconvenience, but we’re trying to be as efficient as possible. The longer the voting takes, the more it costs the funds — and the shareholders.

So, please remember to vote — and vote early. And if you have any questions, refer to the frequently asked questions on this website. Thank you for your time.

[End Video Transcript]

[Tab 1]: How can I vote?

Vote online now [links to www.proxy-direct.com/afs] (be sure to have your proxy mailing in hand).

Misplaced your proxy materials? Call 877/816-5331 to get a replacement ballot.

You can also vote your proxies in a number of other ways:

[logo - American Funds®]
§  
The right choice for the long termby ®calling 800/337-3503 (available 24 hours a day)
§  
by completing and mailing the proxy ballots you received (please send in all the ballots included in the mailing)
§  
by attending a shareholder meeting on either October 27, 2009 (for The Investment Company of America®), or November 24, 2009 (for all other funds, including funds in the American Funds Insurance Series®), at 333 S. Hope St., Los Angeles, CA 90071

Have questions about your proxy materials? Get more information about how to vote.

[Tab 2]: American Balanced Fund®What does the vote cover?
 
The proposals include:

§  the reorganization of the funds into Delaware statutory trusts
§  the election of directors for the funds
§  exemptive relief from the Securities and Exchange Commission (SEC) and related matters
§  the creation of a uniform set of fundamental investment policies
§  the expansion of investment opportunities for The New Economy Fund® and the American Funds Insurance Series Global Discovery Fund
§  shareholder proposals regarding divestiture for 16 of our funds

Download the complete proxy statement. Please note that the PDF is large, so you may experience delays in downloading it.

[Tab 3]: Fundamental InvestorsSMWhy should I vote?
 
The Growth Fundproposals we’re asking you to review and approve will help increase investment flexibility, streamline the administration of Americathe funds and, consequently, may reduce expenses associated with managing the funds.

It is very important that all shareholders cast their votes in order to have a sufficient number of votes at the shareholder meetings. If there are not enough votes for a quorum, the meetings will be adjourned and the solicitation of votes will continue. This will increase expenses to the fund.

®[Tab 4]: When should I vote?
 
You will receive proxy materials between late August and mid-September.

Some mailings will include significant background on the proposals along with proxy ballots, while others will provide summaries. The Income Fundnumber of America®shares you own will help determine the materials you receive.

We encourage you to vote as soon as you receive the materials. By voting early, you can help us avoid the expense of resending proxy materials.

In mid-September, if you have not yet voted, you may receive follow-up phone calls encouraging you to vote your proxies. You will be able to vote over the phone at that time.

Please note that these calls will come from a company helping to manage our proxy vote.

If there is not a quorum at the shareholder meetings on October 27, 2009 (for The Investment Company of AmericaAmerica®), or November 24, 2009 (for all other funds, including the funds in the American Funds Insurance Series®), the meeting(s) will be adjourned while the solicitation of votes continues.

®[Tab 5]: FAQ

Voting procedures

Ways to vote

Q: How do I vote?
A: Make sure you have your proxy materials in hand before voting. The way you vote depends on the type of account and funds you have.

If you have investments in the American Funds (with account information held by American Funds), you can vote:
·  
online [links to: www.proxy-direct.com/afs]
·  
by calling 800/337-3503 (available 24 hours)
·  
by completing and mailing the proxy ballots you received (please send in all the ballots included in the mailing)
·  
by attending a shareholder meeting on either October 27, 2009 (for The Investment Company of America®), or November 24, 2009 (for all other funds), at 333 S. Hope St., Los Angeles, CA 90071

If you have investments in American Funds through a brokerage account, you can vote:
·  
online [links to: www.proxyvote.com]
·  
by calling 800/454-8683 (available 24 hours)
·  
by completing and mailing the proxy ballots or voting instruction forms you received (please send in all the ballots included in the mailing)
·  
by attending a shareholder meeting on either October 27, 2009 (for The Investment Company of America), or November 24, 2009 (for all other funds), at 333 S. Hope St., Los Angeles, CA 90071

If you have investments in the American Funds Insurance Series (AFIS), you can vote:
·  
online [links to: www.proxyweb.com]
·  
by calling 888/221-0697 (available 24 hours)
·  
by completing and mailing the proxy ballots or voting instruction forms you received (please send in all the ballots included in the mailing)
·  
by attending a shareholder meeting on November 24, 2009, at 333 S. Hope St., Los Angeles, CA 90071

Q: If I have a joint tenant account, do both tenants need to vote?
A: Only one joint tenant needs to vote.

Q: Can I cast a vote for a family member who is not able to vote?
A: We cannot advise you to vote for a family member.

Q: Why is it important that I vote?
A: It is very important that all shareholders cast their votes in order to have a sufficient number of votes at the shareholder meetings. If there are not enough votes for a quorum, the meetings will be adjourned and the solicitation of votes will continue. This will increase expenses to the fund.

Proxy materials

Q: Why am I getting multiple envelopes in the mail?
A: You will receive a mailing for each separate account you have with American Funds. If you have an IRA and a retail account, for example, you will receive two mailings. If you have a variable annuity that offers an American Funds Insurance Series (AFIS) fund, you will receive a mailing for that contract as well.

Q: Why did I get a proxy statement and card from American Funds and another from my adviser’s firm?
A:  Some shareholders have accounts held directly with American Funds, in addition to accounts that may be held with your adviser’s firm. If American Funds has your account information, such as your name and address, we’ll send you proxy materials directly. If your adviser’s firm has the records, it will send you the materials. If you have more than one account, you may receive proxy materials from both American Funds and your adviser’s firm. Additionally, if you own a variable annuity that offers AFIS, you’ll receive a ballot from your insurance company. Please be sure to vote all of the ballots you receive. The way you vote may vary based on the type of account and funds you have.

Q: Why are there multiple ballots in the envelopes?
A: We can only fit four funds on a ballot. If you own more than four funds, you’ll receive more than one ballot.

Q: If I receive multiple ballots can I vote on just one?
A: Each ballot is for different funds, so you need to vote each ballot.

Q: Can I just vote to accept the Board of Trustees’ recommendation?
A: Yes. If you wish to accept the boards’ recommendations, you can check the box in the middle of the ballot, or indicate your preference when voting online. That one check is sufficient, so you do not need to check any other boxes. However, if you received multiple ballots, you must indicate your vote on each ballot. If you check the box in the middle of the page and another box, your vote will not be counted and will be returned to you.

Q: What happens if I lose my ballot?
A: You can call 800/421-0180 to obtain another ballot. You will have to provide your name, address and account number. If your accounts are held through a brokerage account or you are an AFIS contractholder, call 888/456-7152.

Q: How much will this vote cost?
A: We estimate the cost will be between $2.50 and $3.00 per account. The AFIS proxy vote will cost less.

Q: Why is the proxy statement so many pages?
A: To fully explain the proposals requires many pages. In addition, Securities and Exchange Commission (SEC) rules require that we include much of the information in the back of the proxy statement.

Q: Why did some shareholders get a full proxy statement and proxy ballot and others only got a notice?
A: In an effort to contain costs, we’re sending the full proxy statement and proxy cards to some shareholders and a proxy notice to others. Download the full proxy statement. All investors in AFIS funds, held in variable annuity contracts, received a full proxy statement.

Q: If I get one proxy statement and ballot from both American Funds and my adviser’s firm, do I have to vote both ballots?
A: Yes. Each proxy card is for a different account. If you received separate proxy cards from American Funds and your adviser’s firm, you have more than one account. You need to vote for each account.

Follow-up phone calls

Q: Why are you calling me at home?
A: We are calling to facilitate your voting. To achieve a quorum, at least half of the outstanding shares in a fund must vote. Thus, it is critical that as many shareholders as possible vote. Currently, we do not expect investors in AFIS funds, held in variable annuity contracts, to receive calls.

Q: Why did you give my information to a third party?
A: We hired two firms that specialize in helping shareholders vote proxies. We provided them with only enough information to complete their work as efficiently as possible. We limited the information we shared to protect your privacy. Our confidentiality agreement with them provides that your information may not be shared with any other third party.

Q: Who are Computershare Fund Services and D.F. King & Co.?
A: They are independent companies that specialize in assisting financial firms with shareholder meetings. American Funds hired these firms to contact shareholders and record their votes. Our confidentiality agreement with them provides that your information may not be shared with any other third party.

Q: Why have I received multiple phone calls?
A: We are calling shareholders who have not yet submitted all their votes. If, for example, you received two proxy cards and only voted one, you may get a call about the second card. Currently, we do not expect investors in AFIS funds to receive calls.

Voting deadlines and results

Q: When is the deadline for voting?
A: It is important that you cast your votes as early as possible. The sooner shareholders vote, the sooner we can discontinue calling shareholders to cast their votes and the greater the cost savings to the funds. The shareholder meetings will be October 27, 2009 (for The Investment Company of America), and November 24, 2009 (for all other funds, including funds in the American Funds Insurance Series). Conducting the proxy vote is an expense of the fund and the longer the voting takes, the more expensive it is.

Q: When will voting results be available?
A: The Investment Company of America’s annual meeting is scheduled for October 27, 2009. All the other meetings (including the meeting for the AFIS funds) are scheduled for November 24, 2009. If there is not a quorum, the meetings may be adjourned while we continue soliciting votes. We will make the results available as soon as possible after the outcomes are known.

Q: How will I be notified?
A: We will post the results of the votes on this website.

The proposals

Board recommendations

Q: Do the boards of the funds have a recommendation?
A: The board of each fund recommends that shareholders vote in favor of all management-initiated proposals. However, certain funds have a proposal submitted by some shareholders regarding investing in companies with ties to certain countries (such as Sudan). Each board recommends that shareholders of applicable funds vote “against” this proposal. The proxy statement contains more information about all of the proposals. Shareholders have not added any proposals to the AFIS ballot.

Q: Why is American Funds asking shareholders of all funds to vote on all of the proposals at the same time?
A: We believe that presenting all of the proposals to all shareholders at one time is the most cost-effective and least intrusive manner of addressing these issues because many of the funds have similar matters that require shareholder approval.

Q: Will investors in the American Funds Insurance Series (AFIS) also have a proxy vote?
A: Yes. Investors in AFIS funds, held in variable annuity contracts, will receive a proxy statement and voting instruction forms by mid-September from their insurance company asking for their vote.

Election of directors (proposal 1)
 
Questions & AnswersShareholders are being asked to elect directors for the funds.

Q: What is the benefit of shareholders electing directors for the funds?
A: Electing members of the fund boards will result in more of the funds having common board members. This will allow more funds to hold board meetings at the same time, potentially reducing fund expenses.

Q: Why do shareholders have to vote for directors?
A: The law requires that two-thirds of a fund’s board be elected by shareholders. Over the years, as shareholder-elected board members have retired, some boards have declined to the two-thirds minimum. By electing all board members at this time, we expect that the funds will avoid having to go through the expense of holding shareholder elections for many years.

Delaware statutory trust (proposal 2)
 
Q.Currently the funds are incorporated in three different states — Delaware, Massachusetts and Maryland — as either business trusts or corporations. This change to reorganize all the funds as Delaware statutory trusts means that all the funds will operate under a single, uniform set of organizational rules.

Q: How do shareholders benefit from the funds becoming Delaware statutory trusts?
A: We believe that this change will make the administration of the funds more efficient, thereby reducing expenses. In some cases, the change will directly save shareholders money. For example:

·  If The Investment Company of America becomes a Delaware statutory trust it will no longer be required to hold an annual shareholder meeting. Over the past two decades, fewer than 20 shareholders have ever attended any shareholder meeting, yet notifying investors of the meeting costs the fund more than $1 million annually.
·  Some funds must now seek shareholder approval for even minor changes to the funds’ charters. Changes that are in the shareholders’ best interest and could make a fund more efficient would no longer require a shareholder vote, which is very expensive.

Q: Does the change to a Delaware statutory trust reduce investors’ protection or increase their liabilities in any way?
A: No. Changing to a Delaware statutory trust does not lessen shareholder protections or increase their liabilities.

Fundamental investment policies (proposal 3)

Our goal is to have a uniform set of fundamental investment policies across all funds and eliminate overly restrictive policies that are no longer applicable. The SEC requires that a fund states in writing what its “fundamental investment policies” are on issues such as borrowing or purchasing real estate.

·  In 1996, a federal law gave the SEC exclusive authority to regulate mutual funds, preempting state laws.
·  Some of the funds’ fundamental investment policies that were adopted when the funds were established with the goal of meeting state laws are now outdated and overly restrictive.
·  A fund’s fundamental investment policies can’t be changed without a shareholder vote.

Q: How will shareholders benefit from changing the fundamental investment policies?
A: Eliminating some unnecessary and overly restrictive fundamental policies will increase the flexibility of Capital Research and Management CompanySM (CRMC), the funds’ investment adviser, to respond to market, industry, regulatory or technical changes. Shareholders will also benefit from a simplified system of compliance monitoring. It is more efficient and less time consuming, and thus less costly, to ensure compliance with a single set of investment policies.

Q: The proxy statement mentions borrowing money, purchasing real estate and making loans, among other fundamental policies. Will CRMC change its practices on any of these or the other issues mentioned?
A: No. We are proposing a standardized set of policies across all funds and the elimination of some policies that were required when the fund was launched but are now more restrictive than required by current regulations. CRMC does not currently intend to change the way the funds are managed. Any material change in the way a fund is managed would still need to be approved by the board of that fund.

For additional detail regarding the funds’ investment policies, please refer to the funds’ statement of additional information (i.e., Part B) available on the Prospectuses and Reports page.

For more information on the AFIS funds’ investment policies, please refer to the prospectuses and reports for Class 1 and Class 2 shares.

Q: Why is it important to standardize the fundamental investment policies?
A: We believe that adopting this slate of fundamental policies will give the funds more flexibility to quickly adapt to changing circumstances and market conditions and simplify compliance monitoring.

Exemptive relief from the Securities and Exchange Commission (SEC) and incorporating Capital World Investors (CWI) and Capital Research Global Investors (CRGI) (proposals 4, 5 and 6)

CRMC and the funds are seeking exemptive relief (i.e., special permission) from the SEC that will allow CRMC to incorporate its two investment divisions — CWI and CRGI. CRMC will remain the investment adviser to the funds. CWI and/or CRGI will be subsidiary advisers and handle the day-to-day investment management responsibilities for the funds, just as they do today.

Q: How do shareholders benefit if CWI and CRGI are incorporated?
A: Today, some regulators outside the United States do not recognize CWI and CRGI as independent entities. If they are legal corporations and subsidiaries of CRMC, regulators in certain countries may treat them as separate investment entities, giving the funds more investment flexibility.

Q: How do shareholders benefit if the exemptive relief from the SEC is granted?
A: While the fund’s board would have to approve CRMC changing a fund’s subsidiary adviser, shareholders would avoid the cost of an expensive shareholder vote to approve such an action.

Q: Why are shareholders being asked to approve a new advisory agreement?
A: The new advisory agreement allows CRMC to engage CWI and CRGI as subsidiary advisers to manage the funds. This approval will be necessary once CWI and CRGI are incorporated. In addition, the current advisory agreements vary somewhat from fund to fund. Adopting the new advisory agreement will create greater standardization of agreements across the funds.

Q: Can CRMC appoint any firm as a subsidiary adviser?
A: If the exemptive order is granted, CRMC will only be able to appoint affiliates that are wholly-owned or majority-owned by CRMC or its parent, The Capital Group Companies.

The New Economy Fund and American Funds Insurance Series Global Discovery Fund (proposal 7)

The New Economy Fund (NEF) was formed in 1983 to take advantage of opportunities presented by the “new economy,” defined primarily as service and information industries. (AFIS Global Discovery Fund was formed in 2001 and has substantially similar investment policies as NEF.) The proposed change allows the funds’ managers to invest in any company that participates in the “new economy” — companies that can benefit from innovation, exploit new technologies or provide products and services that meet the demands of an evolving global economy — regardless of industry classification.

Q: How do shareholders of the funds benefit from expanding the funds’ investment universe?
A: With a broader investment universe, the funds’ investment professionals will be able to pursue investment opportunities in a wider range of industries.

Q: Will expanding the funds’ investment universe change the way they are managed?
A: No, this will not change the way NEF or AFIS Global Discovery Fund is managed. It will give the funds’ investment professionals more flexibility by allowing investments in a larger universe of companies.

Q: Will the funds invest more outside the United States after this change?
A: No. NEF may continue to invest up to 45% of its assets outside the United States. AFIS Global Discovery Fund may continue to invest a majority of its assets in the U.S.

Q: What types of companies will be eligible to be in included in the funds’ portfolios?
A: Companies that introduce cutting-edge technology or embrace innovation now will be eligible regardless of their industry classification. In the past, unless a company was classified as being in the service or information industry, they probably would not be eligible.

Q: Are you seeking approval for this change to help improve the results of NEF or Global Discovery Fund?
A: No. The proposed change simply reflects changes in the global economy.

Shareholder proposal regarding divestiture (proposal 8)

Shareholders have submitted a proposal requesting certain funds’ boards to consider instituting a policy to prevent the fund from holding investments in companies that “contribute to genocide or crimes against humanity.” This issue is not on the AFIS ballots.

Q: Why am I being asked to vote?
A. Mutual funds are required to obtain shareholder approval for certain significant matters, including the election of directors. As a shareholder of American Balanced Fund, Inc., Fundamental Investors, Inc., The Growth Fund of America, Inc., The Income Fund of America, Inc., and/or The Investment Company of America, you are being asked to vote to elect nominees to serve as directors of your funds.
Your boards recommend that you vote FOR the election of each nominee.
Q. How do I vote?
A. You can vote by mail, Internet, telephone, or attending the meeting in person, as indicated on the enclosed proxy card. You can help reduce shareholder costs by voting promptly. Your vote is important, regardless of the number of shares you own. Please take a few minutes to read the enclosed material and vote your shares.
Q. I am not invested in all of the funds listed above. Am I being asked to vote for the boards of five funds?
A. The proxy card indicates the funds you own. You will only be allowed to vote for the nominees proposed for your funds.
Q. Whom should I call for further information?
A. Please call either your financial adviser or shareholder services toll free at 800/421-0180.
Please don’t hesitate. Vote your shares today. By voting promptly, you will help reduce costs—which are paid for by the funds—and will avoid receiving follow-up telephone calls or mailings. Voting by telephone or via the Internet lowers the costs even further.


American Balanced Fund (“AMBAL”)
Fundamental Investors (“FI”)
The Growth Fund of America (“GFA”)
The Income Fund of America (“IFA”)
The Investment Company of America (“ICA”)
Notice of meeting of shareholders
August 7, 2008
To the shareholders:
Notice is given that a meeting of shareholders (the “meeting”) of the funds listed above (each a “fund” and, collectively, “the funds”) will be held on Thursday, August 7, 2008, at the offices of the Capital Group Companies, Inc., 333 South Hope Street, 55th Floor, Los Angeles, California, at 9:00 a.m., Pacific time, and at any adjournment or adjournments thereof, for the following purposes:
1.To elect directors of each fund; and
2.To consider and act upon any other business as may properly come before the meeting and any adjournment or adjournments thereof.
The proposed business cannot be conducted for a fund at the meeting unless the required quorum of shares on June 9, 2008 (the “record date”) are present in person or by proxy. Therefore, please mark, sign, date and return the enclosed proxy card(s) or cast your vote by telephone or via the Internet as soon as possible. You may revoke your proxy at any time before its use. If you owned shares in more than one class on June 9, 2008, you may receive more than one proxy card. Please be certain to vote each proxy card you receive.
Only shareholders of record at the close of business on June 9, 2008 are entitled to notice of and to vote at the meeting and any adjournment or adjournments thereof.
By order of the Boards of Directors,
Vincent P. Corti
Secretary of ICA
Patrick F. Quan
Secretary of AMBAL, FI, GFA and IFA
June 26, 2008
Important
You can help your fund(s) avoid the expense of further proxy solicitation by promptly voting your shares using one of three convenient methods: (a) by calling the toll-free number as described in the enclosed insert; (b) by accessing the Internet website as described in the enclosed insert; or (c) by signing, dating and returning the proxy card(s) in the enclosed postage-paid envelope.



American Balanced Fund (“AMBAL”)
Fundamental Investors (“FI”)
The Growth Fund of America (“GFA”)
The Income Fund of America (“IFA”)
One Market, Steuart Tower, Suite 1800, San Francisco, California 94105
The Investment Company of America (“ICA”)
333 South Hope Street, Los Angeles, California 90071
Joint Proxy Statement
Meeting of shareholders
August 7, 2008
The enclosed proxy is solicited by the board of directors (the “board” and, collectively, “the boards”) of each fund listed above (each a “fund” and, collectively, “the funds”) in connection with the meeting of shareholders (the “meeting”) to be held for the funds on Thursday, August 7, 2008, at the offices of the Capital Group Companies, Inc., 333 South Hope Street, 55th Floor, Los Angeles, California, at 9:00 a.m., Pacific time, and at any adjournment or adjournments thereof. Shareholders of record at the close of business on June 9, 2008 (the “record date”) are entitled to vote on a proposal to elect 11 directors for AMBAL and IFA, 12 directors for FI and GFA, and 13 directors for ICA (each,submitted by a “director” and, collectively, the “directors”) for their respective fund. The boards know of no other business to be presented for consideration at the meeting. If any other matter is properly presented, it is the intention of the persons named in the enclosed proxy to vote in accordance with their best judgment. This proxy statement and related proxy card(s) were first mailed on or about June 26, 2008.shareholder?
If you complete, sign and mail the enclosed proxy card(s) in the postage-paid envelope provided or record your vote(s) by telephone or via the Internet before August 7, 2008 at 9:00 a.m. Pacific time, your shares will be voted exactly as you instruct. If you sign the proxy card, without otherwise completing it, your shares will be voted “for” the directors of your fund nominated below. Your vote(s) can be revoked at any time before being exercised, either by filing with your fund a written notice of revocation; by delivering a duly executed proxy card, or a telephone or Internet vote, bearing a later date; or by attending the meeting and voting in person. All shares thatA:  We are voted and votes to “withhold” are counted in determining the presence of a quorum.
A quorum of shareholders is required to take action at the meeting. For AMBAL and FI,include requests from shareholders for a quorum is one-third of shares entitled to vote at the meeting. For GFA, ICA and IFA, a quorumnonbinding vote.

Q: What is a majority of shares entitled to vote at“nonbinding” resolution?
A: If the meeting. If a quorum is not present in person or by proxy byshareholder resolution passes, the meeting date, the persons named as proxies may propose one or more adjournments of the meeting in accordance with applicable law, to permit further solicitation of proxies. The persons named as proxies will vote all proxies in favor of such adjournment. With respect to the election of directors, assuming a quorum is present at the meeting, the 11 nominees for AMBAL and IFA, the 12 nominees for FI and GFA, and the 13 nominees for ICA, receiving the highest number of votes will be elected.
Broker-dealer firms holding shares in “street name” will request voting instructions from their customers and beneficial owners. If these instructions are not received by the date specified in a broker-dealer firm’s proxy solicitation materials, the fund understands that the broker-dealer may vote on Proposal 1, Election of Directors, on behalf of its customers and beneficial owners. Certain broker-dealers may exercise discretion over shares held in your name for which no instructions are received by voting these shares in the same proportion as they vote shares for which they received instructions. As to the shares over which broker-dealers have discretionary voting power, the shares that represent “broker non-votes” (i.e., shares held by brokers or nominees as to which i) instructions have not been received from the beneficial owners or persons entitled to vote and ii) the broker or nominee does not have discretionary voting power on a particular matter), and the shares reflecting an abstention on any item will all be counted as shares present and entitled to vote for purposes of determining whether the required quorum of shares exists.


Each fund is a fully managed, diversified, open-end investment company that issues multiple classes of shares with each share class representing an interest in a shared investment portfolio of securities. While each class has its own sales charge and expense structure (please refer to the fund prospectus for more information), shares of all classes of a fund vote together on matters that affect all classes in substantially the same manner. There is no provision for cumulative voting and the number of votes to which each class is entitled is equal to the number of outstanding shares of the class. On the record date, the number of shares issued and outstanding for the various classes of shares for each fund was as follows:
      
  
ClassShares outstanding
 
American
Balanced
Fund
Fundamental
Investors
The Growth
Fund of
America
The Income
Fund of
America
The
Investment
Company of
America
A2,001,353,881967,008,6252,671,032,6193,425,326,3132,185,716,786
B275,224,84139,846,657222,744,562250,332,229119,262,398
C317,887,64355,087,242349,374,279461,903,673101,284,033
F72,035,442101,104,555822,352,138163,306,06051,467,151
529-A73,225,31517,278,16491,677,70638,538,66141,650,937
529-B18,394,6282,032,26417,258,2646,440,9148,095,988
529-C31,015,3525,264,90629,255,20016,318,58611,825,687
529-E4,601,700762,9094,772,5791,876,7711,771,888
529-F2,068,702584,5292,846,0731,219,130639,355
R-16,168,3411,860,76216,347,5765,053,1032,129,153
R-262,390,38112,844,31690,171,38830,339,68821,662,348
R-3175,623,13534,798,558457,799,26061,956,05332,488,189
R-4105,023,38428,617,116572,129,12734,221,68113,666,210
R-569,032,56329,810,646513,464,44231,457,02975,171,451
Total3,214,045,3081,296,901,2495,861,225,2134,528,289,8912,666,831,574
Please note that 529 share classes are available only through CollegeAmerica® to investors establishing qualified higher education savings accounts. CollegeAmerica account owners are technically not shareholdersboard of the fund must consider, but is not required to adopt, the proposal.

Q: Do the Boards of Directors recommend shareholders support the proposal?
A: No. CRMC and accordingly, do not have the rights of shareholders, including the rightfund boards believe that CRMC's existing policy is preferable to vote any proxies relating to fund shares. Class 529 shares are votedthat recommended by the Virginia College Savings Plan, an independent agency of the Commonwealth of Virginia.
Attached as Appendix A is a tableshareholder proposal. Any human rights issues that identifies for each fund those investors who own of record, ormay affect companies are known to own, beneficially 5% or more of any class of shares as of April 30, 2008, the number of shares so owned, and those shares as a percentage of all shares outstanding within the class.
Proposal 1: Election of Directors
American Balanced Fund and The Income Fund of America: 11 directors are proposed to be elected, each to hold office until he or she resigns or a successor is elected and qualified. Each of the nominees was electedconsidered by shareholders at a meeting of shareholders held in December 1999, except Hilda L. Applbaum, Mary Jane Elmore, William D. Jones, John M. Lillie, James J. Postl and Isaac Stein. The boards of directors appointed Mrs. Applbaum (for IFA) in December 2005, Mr. Lillie in August 2003, Mr. Postl (for AMBAL) in May 2007, and Mr. Stein in February 2004. Mrs. Elmore and Messrs. Jones and Postl (for IFA), are newly nominated for election at this meeting.
Fundamental Investors and The Growth Fund of America: 12 directors are proposed to be elected, each to hold office until he or she resigns or a successor is elected and qualified. Each of the nominees was elected by shareholders at a meeting of shareholders held in February 1998 for FI and October 1999 for GFA, except Ronald P. Badie, Joseph C. Berenato, Louise H. Bryson, Robert J. Denison, Dina N. Perry and Donald D. O’Neal. The boards of directors appointed Mr. Berenato in December 2003, Mr. Denison in February 2005, Mrs. Perry (for FI) in February 2004, and Mr. O’Neal (for GFA) in February 2004. Mr. Badie and Mrs. Bryson are newly nominated for election at this meeting.
The Investment Company of America: 13 directors are proposed to be elected, each to hold office until the next annual meeting or until he or she resigns or a successor is elected and qualified. Each of the nominees was elected by shareholders at their last annual meeting in August 2007.
Each of the following nominees has agreed to serve as a director if elected. Should any unforeseen event prevent one or more of the nominees from serving as director, your vote(s) will be cast “for” the election of such person or persons as the board of directors shall recommend to replace the former nominee (unless you have elected to withhold authority as to the election of any nominee).

The boards of AMBAL and IFA recommend that shareholders vote “for” each of the following 11 nominees for the shareholder’s respective fund(s). Proxies will be voted “for” the election of the 11 nominees for each fund, unless otherwise specified.
Board of Directors
American Balanced Fund and The Income Fund of America
       
Name and age
Position
with
the Funds
Year first elected a
Director of the Fund
Principal occupation(s)
during past five years
Number of portfolios
within the fund
complex2
overseen by
Director3
Other directorships4
held by Director
AMBALIFA
“Independent”
Directors1
      
Mary Jane Elmore
54
—NomineeNomineeManaging Director and General Partner, Institutional Venture Partners; former Product Marketing Manager, Intel Corporation’s Development Systems Division2None
Robert A. Fox
71
Director
1976-1978,
1982
1972Managing General Partner, Fox Investments LP; corporate director; retired President and CEO, Foster Farms (poultry producer)7Chemtura Corporation
Leonade D. Jones
60
Director and Chairman of the Board (Independent and
Non-Executive)
19931993Co-founder, VentureThink LLC (developed and managed e-commerce businesses) and Versura Inc. (education loan exchange); former Treasurer, The Washington Post Company6None
William D. Jones
53
—NomineeNomineeReal estate developer/owner, President and CEO, CityLink Investment Corporation4Sempra Energy; Southwest Water Company
John M. Lillie
71
Director20032003Former President, Sequoia Associates LLC (investment firm specializing in medium size buyouts); former CEO, American President Companies (container shipping and transportation services); former CEO, Lucky Stores; former CEO, Leslie Salt2None


American Balanced Fund and The Income Fund of America
       
Name and age
Position
with
the Funds
Year first elected a
Director of the Fund
Principal occupation(s)
during past five years
Number of portfolios
within the fund
complex2
overseen by
Director3
Other directorships4
held by Director
AMBALIFA
John G. McDonald
71
Director
1975-1978,
1988
1976Stanford Investors Professor, Graduate School of Business, Stanford University8iStar Financial, Inc.; Plum Creek Timber Co.; Scholastic Corporation; Varian, Inc.
James J. Postl
62
Director
(AMBAL)
2007NomineeFormer President/CEO, Pennzoil-Quaker State Company (automotive products and services)2Centex Corporation; Cooper Industries; Northwest Airlines
Henry E. Riggs
73
Director19891989President Emeritus, Keck Graduate Institute of Applied Life Sciences4None
Isaac Stein
61
Director20042004President, Waverley Associates (private investment fund); Chairman Emeritus of the Board of Trustees, Stanford University2Alexza Pharmaceuticals, Inc.; Maxygen, Inc.
Patricia K. Woolf
73
Director19881985Private investor; corporate director; former Lecturer, Department of Molecular Biology, Princeton University6None
       
“Interested”
Directors5
   
Principal occupation(s)
during past five years
and positions held with
affiliated entities or
the Principal Underwriter
of the Fund
  
Robert G. O’Donnell
64
Director and Vice Chairman of the Board (AMBAL)1997—Senior Vice President – Capital World Investors, Capital Research and Management Company; Director, Capital Research and Management Company2None
Hilda L. Applbaum
47
Director and Vice Chairman of the Board
(IFA)
—2005Senior Vice President – Capital World Investors, Capital Research and Management Company1None


The boards of FI and GFA recommend that shareholders vote “for” each of the following 12 nominees for the shareholder’s respective fund(s). Proxies will be voted “for” the election of the 12 nominees for each fund, unless otherwise specified.
Fundamental Investors and The Growth Fund of America
       
Name and age
Position
with
the Funds
Year first elected a
Director of the Fund
Principal occupation(s)
during past five years
Number of portfolios
within the fund
complex2
overseen by
Director3
Other directorships4
held by Director
FIGFA
“Independent”
Directors1
      
Ronald P. Badie
65
—NomineeNomineeRetired; former Vice Chairman, Deutsche Bank Alex. Brown3Amphenol Corporation; Merisel, Inc.; Nautilus, Inc.; Obagi Medical Products, Inc.
Joseph C. Berenato
61
Director20032003Chairman and Chief Executive Officer, Ducommun Incorporated (aerospace components manufacturer)6Ducommun Incorporated
Louise H. Bryson
64
—NomineeNomineeExecutive Vice President, Lifetime Networks; General Manager, Lifetime Movie Network3None
Robert J. Denison
67
Director20052005
Chair, First Security Management
(private investment)
5None
Robert A. Fox
71
Director19981970Managing General Partner, Fox Investments LP; corporate director; retired President and CEO, Foster Farms (poultry producer)7Chemtura Corporation
Leonade D. Jones
60
Director19981993Co-founder, VentureThink LLC (developed and managed e-commerce businesses) and Versura Inc. (education loan exchange); former Treasurer, The Washington Post Company6None
John G. McDonald
71
Director19981976Stanford Investors Professor, Graduate School of Business, Stanford University8iStar Financial, Inc.; Plum Creek Timber Co.; Scholastic Corporation; Varian, Inc.

Fundamental Investors and The Growth Fund of America
       
Name and age
Position
with
the Funds
Year first elected a
Director of the Fund
Principal occupation(s)
during past five years
Number of portfolios
within the fund
complex2
overseen by
Director3
Other directorships4
held by Director
FIGFA
Gail L. Neale
73
Director19851998
President, The Lovejoy Consulting
Group, Inc. (a pro-bono consulting
group advising non-profit organizations)
4None
Henry E. Riggs
73
Director and Chairman of the Board (Independent and Non-Executive)19891989President Emeritus, Keck Graduate Institute of Applied Life Sciences4None
Patricia K. Woolf
73
Director19981985Private investor; corporate director; former Lecturer, Department of Molecular Biology, Princeton University6None
       
“Interested”
Directors5
   
Principal occupation(s)
during past five years
and positions held with
affiliated entities or
the Principal Underwriter
of the Fund
  
James F. Rothenberg
61
Director and Vice Chairman of the Board19981997
Chairman of the Board, Capital Research and Management Company; Director, American Funds Distributors, Inc.;6 Director, The Capital Group Companies, Inc.6
2None
Donald D. O’Neal
47
Director and President (GFA)—2004
Senior Vice President – Capital Research Global Investors, Capital Research and Management Company; Director, The Capital Group Companies, Inc.6
3None
Dina N. Perry
62
Director and President
(FI)
2004—Senior Vice President – Capital World Investors, Capital Research and Management Company; Director, Capital Research and Management Company1None

The board of ICA recommends that ICA shareholders vote “for” each of the following 13 nominees. Proxies will be voted “for” the election of the 13 nominees, unless otherwise specified.
The Investment Company of America
      
Name and age
Position
with
the Fund
Year first
elected a
Director of
the Fund
Principal occupation(s)
during past five years
Number of portfolios
within the fund
complex2
overseen by
Director3
Other directorships4
held by Director
“Independent”
Directors1
     
Louise H. Bryson
64
Director1999Executive Vice President, Lifetime Networks; General Manager, Lifetime Movie Network3None
Mary Anne Dolan
61
Director2000Founder and President M.A.D., Inc. (communications company); former Editor-in-Chief, The Los Angeles Herald Examiner5None
Martin Fenton
73
Director and Chairman of the Board (Independent
and Non-Executive)
2000Chairman, Senior Resource Group LLC (development and management of senior living communities)18None
Leonard R. Fuller
61
Director2002President and CEO, Fuller Consulting (financial management consulting firm)16None
Claudio X. Gonzalez
Laporte
74
Director2001Chairman of the Board, Kimberly Clark de Mexico, S.A.B. de CV1General Electric Company; Grupo Alfa, S.A. de C.V.; Grupo Carso, S.A. de C.V.; Grupo Financiero Inbursa; Grupo Industrial Saltillo, S.A. de CV; Grupo Mexico, S.A. de C.V.; Grupo Televisa, S.A.B.; The Mexico Fund
L. Daniel Jorndt
66
Director2006Former Chairman and Chief Executive Officer, Walgreen Company (drug store chain)1None

The Investment Company of America
      
Name and age
Position
with
the Fund
Year first
elected a
Director of
the Fund
Principal occupation(s)
during past five years
Number of portfolios
within the fund
complex2
overseen by
Director3
Other directorships4
held by Director
John G. McDonald
71
Director1976Stanford Investors Professor, Graduate School of Business, Stanford University8iStar Financial, Inc.; Plum Creek Timber Co.; Scholastic Corporation; Varian, Inc.
Bailey Morris-Eck
64
Director1993Director and Programming Chair, WYPR Baltimore/Washington (public radio station); Senior Adviser, Financial News (London); Senior Fellow, Institute for International Economics; former Senior Associate and head of the Global Policy Initiative, Reuters Foundation3None
Richard G. Newman7
73
Director1996Chairman, AECOM Technology Corporation (engineering, consulting and professional technical services)14Sempra Energy; Southwest Water Company
Olin C. Robison
72
Director1987Fellow, The Oxford Centre for the Study of Christianity and Culture; Director, The Oxford Project on Religion and Public Policy; President Emeritus of the Salzburg Seminar; President Emeritus, Middlebury College3American Shared Hospital Services
      
“Interested”
Directors5
  
Principal occupation(s)
during past five years
and positions held with
affiliated entities or
the Principal Underwriter
of the Fund
  
R. Michael Shanahan
69
Director and Vice Chairman of the Board1998
Director and Chairman Emeritus, Capital Research and Management Company; Director, American Funds Distributors, Inc.6; Chairman of the Executive Committee, The Capital Group Companies, Inc.6; Chairman of the Board, Capital Management Services, Inc.6; Director, Capital Strategy Research, Inc.6
2None

The Investment Company of America
      
Name and age
Position
with
the Fund
Year first
elected a
Director of
the Fund
Principal occupation(s)
during past five years
and positions held with
affiliated entities or
the Principal Underwriter
of the Fund
Number of portfolios
within the fund
complex2
overseen by
Director3
Other directorships4
held by Director
“Interested”
Directors5
     
James B. Lovelace
52
Director and President2000Senior Vice President – Capital Research Global Investors, Capital Research and Management Company; Director, Capital Research and Management Company3None
Donald D. O’Neal
47
Director and Senior Vice President2001
Senior Vice President – Capital Research Global Investors, Capital Research and Management Company; Director, The Capital Group Companies, Inc.6
3None
1The term “independent” director refers to a director who is not an “interested person” within the meaning of the Investment Company Act of 1940 (the “1940 Act”).
2
Funds managed by Capital Research and Management Company, including the American Funds®; American Funds Insurance Series®, which is composed of 15 funds and serves as the underlying investment vehicle for certain variable insurance contracts; American Funds Target Date Retirement Series,SM Inc., which is composed of nine funds and is available to investors in tax-deferred retirement plans and IRAs; and Endowments, which is composed of two funds and is available to certain nonprofit organizations.
3The number of portfolios within the fund complex overseen by director includes the portfolios that a nominee would oversee if elected.
4Includes all directorships (other than those in the American Funds or other funds managed by Capital Research and Management Company) that are held by each director as a director of a public company or a registered investment company.
5“Interested person” of the fund within the meaning of the 1940 Act on the basis of his or her affiliation with the Fund’s investment adviser, Capital Research and Management Company, or affiliated entities (including the Funds’ principal underwriter).
6Company affiliated with Capital Research and Management Company.
7The investment adviser and its affiliates use a subsidiary of AECOM, Inc. to perform architectural and space management services. The investment adviser’s business relationship with the subsidiary preceded its acquisition by AECOM in 1994. The total fees relating to this engagement for the last two years represent less than 0.1% of AECOM, Inc’s 2006 gross revenues.
Correspondence intended for directors or nominees may be sent to 333 South Hope Street, 55th Floor, Los Angeles, California 90071, Attention: Secretary of the fund.

Board and committee membership
Each board has also organized the following standing committees, each of which holds separate meetings. The principal functions of each committee are summarized below. During the 2007 fiscal years none of the board members serving on a committee(s) for a fund was an “interested person” of that fund within the meaning of the 1940 Act.
Each fund has an audit committee comprised of certain independent directors. The audit committee provides oversight regarding the fund’s accounting and financial reporting policies and practices, its internal controls and the internal controls of the fund’s principal service providers. The audit committee acts as a liaison between the fund’s independent registered public accounting firm and its full board of directors.
Each fund has a contracts committee or governance and contracts committee (the “contracts committee”) comprised of all of the board’s independent directors. The contracts committee’s principal function is to request, review and consider the information deemed necessary to evaluate the terms of certain agreements between the fund and itsour investment adviser or the investment adviser’s affiliates, such as the Investment Advisory and Service Agreement, Principal Underwriting Agreement, Administrative Services Agreement and Plans of Distribution under rule 12b-1 adopted under the 1940 Act, that the fund may enter into, renew or continue, and to make recommendations to the fund’s full board of directors on these matters.
Each fund has a nominating committee or nominating and governance committee (the “nominating committee”) comprised of certain independent directors. The nominating committee operates under a written charter that is attached as Appendix B. The nominating committee periodically reviews such issues as the board’s composition, responsibilities, committees, compensation and other relevant issues, and recommends any appropriate changes to the full board of directors. The nominating committee also evaluates, selects and nominates independent director and advisory board member candidates (only ICA currently has an advisory board) to the full board of directors. While the nominating committee normally is able to identify from its own and other resources an ample number of qualified candidates, it will consider shareholder suggestions of persons to be considered as nominees to fill future vacancies on the board. Such suggestions must be made in writing to the nominating committee of the fund, addressed to the fund’s secretary, and accompanied by complete biographical and occupational data of the prospective nominee, along with a written consent of the prospective nominee for consideration of his or her name by the nominating committee (see also “Shareholder proposals”).
Each fund has a proxy committee comprised of certain independent directors. The proxy committee’s functions include establishing and reviewing procedures and policies for voting proxies of companies held in the fund’s portfolio, making determinations with regard to certain contested proxy voting issues, and discussing related current issues.
Committee Memberships1
Fund
Most recent
fiscal
year end
Number of
Board
meetings
Audit CommitteeContracts CommitteeNominating CommitteeProxy Committee
Members
# of
meetings
Members
# of
meetings
Members
# of
meetings
Members
# of
meetings
AMBAL2
12/31/074Fox, L. Jones, Lillie, Postl, Stein4All independent directors1Lillie, McDonald, Riggs, Woolf6Fox, L. Jones, McDonald, Stein, Woolf4
FI3
12/31/074Berenato, Denison, Fox, L. Jones4All independent directors1Berenato, McDonald, Neale, Woolf4Fox, L. Jones, McDonald, Neale, Woolf4
GFA4
8/31/074Berenato, Denison, Fox, L. Jones6All independent directors1Berenato, McDonald, Neale, Woolf3Fox, L. Jones, McDonald, Neale, Woolf4
IFA3
7/31/074Fox, L. Jones, Lillie, Postl, Stein4All independent directors1Lillie, McDonald, Riggs, Woolf7Fox, L. Jones, McDonald, Stein, Woolf4
ICA5
12/31/075Bryson, Dolan, Fenton, Fuller, Gonzalez, Jorndt, McDonald, Morris-Eck, Newman, Robison5All independent directors1Bryson, Dolan, McDonald, Robison4Fuller, McDonald, Newman4
1Each member of the committees is an independent director.
2AMBAL – each incumbent director attended 100% of the meetings of the board and committees on which he or she served.
3FI and IFA – each incumbent director attended at least 92% of the meetings of the board and committees on which he or she served.
4GFA – each incumbent director attended at least 93% of the meetings of the board and committees on which he or she served.
5ICA – each incumbent director attended at least 96% of the meetings of the board and committees on which he or she served.
Director compensation
No compensation is paid by the fund to any officer or director who is a director, officer or employee of the investment adviser or its affiliates. The boards of funds advised by the investment adviser typically meet either individually or jointly with the boards of one or more other such funds with substantially overlapping board membership (in each case referred to as a “board cluster”). The fund typically pays each independent director an annual fee, which ranges from $16,500 to $35,000 (each for AMBAL, FI, GFA and IFA) and $50,000 to $87,000 for ICA, based primarily on the total number of board clusters on which that independent director serves.
In addition, the fund generally pays independent directors attendance and other fees for meetings of the board and its committees. Board and committee chairs receive additional fees for their services.
Independent directors also receive attendance fees for certain special joint meetings and information sessions with directors and trustees of other funds advised by the investment adviser. The fund and the other funds served by each independent director pay equal portions of these attendance fees.
The nominating committee typically reviews director compensation annually and recommends adjustments periodically. In making its recommendations, the nominating committee considers a number of factors, including operational, regulatory and other developments affecting the complexity of the board’s oversight obligations, as well as comparative industry data.
No pension or retirement benefits are accruedprofessionals as part of the fund’s expenses. Independent directors may elect,investment management process. This approach is consistent with the stated investment objectives and policies of the funds. We believe considering these issues on a voluntarycompany-by-company basis to defer all or a portion of their fees through a deferred compensation plan in effect for the fund. The fund also reimburses certain expenses of its independent directors.

Compensation and Fund Ownership
The following tables set forth for each nominee the total compensation paid to him or her by the fund and by all funds managed by the investment adviser or its affiliates he or she oversees as a director, during fiscal year 2007, as well as the value of his or her holdings in each fund and in all of the American Funds he or she oversees as a director, as of April 30, 2008. The nominees for election as directors and the officers of each fund owned, in aggregate, less than 1% of each fund’s outstanding shares.
Name
Aggregate compensation
(including voluntarily deferred
compensation2) from the fund
during fiscal 2007
Total compensation (including
voluntarily deferred
compensation2) from all
funds managed by Capital
Research and Management
Company or its affiliates3
during fiscal 2007
Dollar range4
of fund shares owned
as of April 30, 2008
Aggregate dollar range4
of shares owned in all
funds in the American Funds
family overseen by Director
as of April 30, 2008
American Balanced Fund    
(Fiscal year end 12/31/07)    
“Independent” Directors1
    
Mary Jane Elmore
$06
$0
$50,001 - $100,0009
Over $100,0009
Robert A. Fox5
45,642278,041Over $100,000Over $100,000
Leonade D. Jones5
67,667342,375Over $100,000Over $100,000
William D. Jones
06
112,100
$50,001 - $100,0009
Over $100,0009
John M. Lillie64,500129,450Over $100,000Over $100,000
John G. McDonald5
48,187368,500$50,001 - $100,000Over $100,000
James J. Postl70,83370,833Over $100,000Over $100,000
Henry E. Riggs5
52,750248,771Over $100,000Over $100,000
Isaac Stein58,750117,950Over $100,000Over $100,000
Patricia K. Woolf5
53,959306,125$50,001 - $100,000Over $100,000
“Interested” Directors7
    
Robert G. O’Donnell
None8
None8
Over $100,000Over $100,000
Fundamental Investors    
(Fiscal year end 12/31/07)    
“Independent” Directors1
    
Ronald P. Badie
$06
$14,000Over $100,000Over $100,000
Joseph C. Berenato5
50,584303,375$10,001 - $50,000 Over $100,000
Louise H. Bryson
06
106,000
$10,001 - $50,0009
Over $100,000
Robert J. Denison5
45,375278,041$10,001 - $50,000 $50,001 - $100,000

     
Name
Aggregate compensation
(including voluntarily deferred
compensation2) from the fund
during fiscal 2007
Total compensation (including
voluntarily deferred
compensation2) from all
funds managed by Capital
Research and Management
Company or its affiliates3
during fiscal 2007
Dollar range4
of fund shares owned
as of April 30, 2008
Aggregate dollar range4
of shares owned in all
funds in the American Funds
family overseen by Director
as of April 30, 2008
Fundamental Investors (continued)
    
“Independent” Directors1
    
Robert A. Fox5
$45,844$278,041Over $100,000Over $100,000
Leonade D. Jones5
45,917342,375Over $100,000Over $100,000
John G. McDonald5
39,687368,500$50,001 - $100,000Over $100,000
Gail L. Neale51,646205,230$10,001 - $50,000Over $100,000
Henry E. Riggs5
70,750248,771Over $100,000Over $100,000
Patricia K. Woolf5
48,334306,125$50,001 - $100,000Over $100,000
“Interested” Directors7
    
James F. Rothenberg
None8
None8
Over $100,000Over $100,000
Dina N. Perry
None8
None8
Over $100,000Over $100,000
The Growth Fund of America
(Fiscal year end 8/31/2007)
    
“Independent” Directors1
    
Ronald P. Badie
$06
$19,835Over $100,000Over $100,000
Joseph C. Berenato5
50,334278,625$50,001 - $100,000Over $100,000
Louise H. Bryson
06
106,000
$10,001 - $50,0009
Over $100,000
Robert J. Denison5
46,000196,646$10,001 - $50,000 $50,001 - $100,000
Robert A. Fox5
45,344283,791Over $100,000Over $100,000
Leonade D. Jones5
46,917329,625Over $100,000Over $100,000
John G. McDonald5
44,687367,000Over $100,000Over $100,000
Gail L. Neale48,146187,105$10,001 - $50,000Over $100,000
Henry E. Riggs5
70,250249,896Over $100,000Over $100,000
Patricia K. Woolf5
45,334293,625Over $100,000Over $100,000
“Interested” Directors7
    
Donald D. O’Neal
None8
None8
Over $100,000Over $100,000
James F. Rothenberg
None8
None8
Over $100,000Over $100,000

     
Name
Aggregate compensation
(including voluntarily deferred
compensation2) from the fund
during fiscal 2007
Total compensation (including
voluntarily deferred
compensation2) from all
funds managed by Capital
Research and Management
Company or its affiliates3
during fiscal 2007
Dollar range4
of fund shares owned
as of April 30, 2008
Aggregate dollar range4
of shares owned in all
funds in the American Funds
family overseen by Director
as of April 30, 2008
The Income Fund of America    
(Fiscal year end 7/31/2007)    
“Independent” Directors1
    
Robert A. Fox5
$42,850$282,041Over $100,000Over $100,000
Mary Jane Elmore
06
0
$50,001 - $100,0009
Over $100,0009
Leonade D. Jones5
63,625324,875Over $100,000Over $100,000
William D. Jones
06
91,333
$50,001 - $100,0009
Over $100,0009
John M. Lillie63,750129,750Over $100,000Over $100,000
John G. McDonald5
49,687367,000$50,001 - $100,000Over $100,000
James J. Postl
06
50,333Over $100,000Over $100,000
Henry E. Riggs5
50,771246,021Over $100,000Over $100,000
Isaac Stein55,750113,750Over $100,000Over $100,000
Patricia K. Woolf5
53,292290,875Over $100,000Over $100,000
“Interested” Directors7
    
Hilda L. Applbaum
None8
None8
Over $100,000Over $100,000
The Investment Company of America    
(Fiscal year end 12/31/2007)    
“Independent” Directors1
    
Louise H. Bryson5
$106,000$106,000Over $100,000Over $100,000
Mary Anne Dolan98,668204,375$50,001 - $100,000Over $100,000
Martin Fenton5
103,158389,742$50,001 - $100,000Over $100,000
Leonard R. Fuller5
97,646322,924$10,001 - $50,000$50,001 - $100,000
Claudio X. Gonzalez-Laporte5
108,000108,000Over $100,000Over $100,000
J. Daniel Jorndt5
105,500105,500Over $100,000Over $100,000
John G. McDonald5
97,188368,500$50,001 - $100,000Over $100,000
Bailey Morris-Eck90,168188,875Over $100,000Over $100,000
Richard G. Newman107,234222,926Over $100,000Over $100,000
Olin C. Robison5
102,168200,875Over $100,000Over $100,000

Name
Aggregate compensation
(including voluntarily deferred
compensation2) from the fund
during fiscal 2007
Total compensation (including
voluntarily deferred
compensation2) from all
funds managed by Capital
Research and Management
Company or its affiliates3
during fiscal 2007
Dollar range4
of fund shares owned
as of April 30, 2008
Aggregate dollar range4
of shares owned in all
funds in the American Funds
family overseen by Director
as of April 30, 2008
The Investment Company of America
    (continued)
“Interested” Directors7
James B. Lovelace
None8
None8
Over $100,000Over $100,000
Donald D. O’Neal
None8
None8
Over $100,000Over $100,000
R. Michael Shanahan
None8
None8
Over $100,000Over $100,000
1An “Independent” director refers to a director who is not an “interested person” within the meaning of the 1940 Act.
2Amounts may be deferred by eligible directors and advisory board members under a non-qualified deferred compensation plan adopted by the fund in 1993. Deferred amounts accumulate at an earnings rate determined by the total return of one or more funds in the American Funds as designated by the directors. Compensation shown in this table for fiscal 2007 does not include earnings on amounts deferred in previous fiscal years. See footnote 5 for more information.
3
Capital Research and Management Company manages the American Funds, consisting of 30 funds. Capital Research and Management Company also manages American Funds Insurance Series, which is composed of 15 funds and serves as the underlying investment vehicle for certain variable insurance contracts; American Funds Target Date Retirement Series,SM Inc., which is composed of nine funds and is available to investors in tax-deferred retirement plans and IRAs; and Endowments, which is composed of two funds and is available to certain nonprofit organizations.
4Ownership disclosure is made using the following ranges: None; $1 - $10,000; $10,001 - $50,000; $50,001 - $100,000 and Over $100,000. The amounts listed for “interested” directors include shares owned through the Capital Group Companies, Inc. retirement plan and 401(k) plan.
5Since the deferred compensation plan’s adoption, the total amount of deferred compensation accrued by the fund (plus earnings thereon) through the applicable 2007 fiscal year for participating directors is as follows:
AMBAL: Robert A. Fox ($636,161), Leonade D. Jones ($122,155), John G. McDonald ($487,925), Henry E. Riggs ($390,613) and Patricia K. Woolf ($265,428)
FI: Joseph C. Berenato ($93,340), Robert J. Denison ($175,855), Robert A. Fox ($456, 883), Leonade D. Jones ($95,717), John G. McDonald ($383,314), Henry E. Riggs ($554,257), Patricia K. Woolf ($311,820)
GFA: Joseph C. Berenato ($106,517), Robert J. Denison ($162,716), Robert A. Fox ($798,328), Leonade D. Jones ($255,944), John G. McDonald ($578,316), Henry E. Riggs ($635,316), Patricia K. Woolf ($299,669)
IFA: Robert A. Fox ($1,117,832), Leonade D. Jones ($181,591), John G. McDonald ($622,428), Henry E. Riggs ($617,253), Patricia K. Woolf ($291,070)
ICA: Louise H. Bryson ($822,924), Martin Fenton ($272,530), Leonard R. Fuller ($11,820), Claudio X. Gonzalez Laporte ($696,020), L. Daniel Jorndt ($166,101), John G. McDonald ($1,639,880), and Olin C. Robison ($849,255)
Amounts deferred and accumulated earnings thereon are not funded and are general unsecured liabilities of the fund until paid to the directors.
6Ronald P. Badie, Louise H. Bryson, Mary Jane Elmore, William D. Jones, and James J. Postl are not currently directors; therefore, they did not receive any compensation from the respective fund during its most recently completed fiscal year.
7An “interested” director refers to a director who is an “interested person” of the fund within the meaning of the 1940 Act on the basis of their affiliation with the fund’s investment adviser, Capital Research and Management Company, or affiliated entities (including the fund’s principal underwriter).
8No compensation is paid by the fund to any director who is affiliated with the investment adviser.
9Value as of June 11, 2008.

Other Executive Officers
Following are the other executive officers of each fund as of the date of this proxy statement. Each officer listed was elected and each will hold office until his or her resignation or until a successor is duly elected and qualified.
Name
and age
Fund — current officer position with fund
(year first elected an officer)
Principal occupation(s) during past
five years and positions held with
affiliated entities or the Principal
Underwriter of the Fund
Hilda L. Applbaum
47
AMBAL — Senior Vice President (1999)Senior Vice President — Capital World Investors, Capital Research and Management Company
David C. Barclay
51
IFA — President (1998)
Senior Vice President — Fixed Income, Capital Research and Management Company; Director, The Capital Group Companies, Inc.1
Jennifer M. Buchheim
34
AMBAL — Treasurer (2005)
IFA — Treasurer (2005)
Vice President — Fund Business Management Group, Capital Research and Management Company
Gordon Crawford
61
GFA — Senior Vice President (1992)
Senior Vice President — Capital Research Global Investors, Capital Research and Management Company; Director, The Capital Group Companies, Inc.1
Vincent P. Corti
52
ICA — Secretary (1994)Vice President — Fund Business Management Group, Capital Research and Management Company
Abner D. Goldstine
78
AMBAL — Senior Vice President (1990)
IFA — Senior Vice President (1993)
Senior Vice President — Fixed Income, Capital Research and Management Company; Director, Capital Research and Management Company
Joyce E. Gordon
51
ICA — Senior Vice President (1998)Senior Vice President — Capital Research Global Investors, Capital Research and Management Company; Director, Capital Research and Management Company
Paul G. Haaga, Jr.
59
FI — Executive Vice President (1994)
GFA — Executive Vice President (1994)
ICA — Executive Vice President (2007)
Vice Chairman of the Board, Capital Research and Management Company; Senior Vice President — Fixed Income, Capital Research and Management Company; Director, The Capital Group Companies, Inc.1
Gregory D. Johnson
45
AMBAL — President (2003)Senior Vice President — Capital World Investors, Capital Research and Management Company
Michael T. Kerr
48
FI — Senior Vice President (1995)
GFA — Senior Vice President (1998)
Senior Vice President — Capital World Investors, Capital Research and Management Company; Director, Capital Research and Management Company
Dina N. Perry
62
IFA — Senior Vice President (1994)Senior Vice President — Capital World Investors, Capital Research and Management Company; Director, Capital Research and Management Company
Patrick F. Quan
49
AMBAL — Secretary (1986)
FI — Secretary (1989-1998, 2000)
GFA — Secretary (1986-1998, 2000)
IFA — Secretary (1986)
Vice President — Fund Business Management Group, Capital Research and Management Company
Jeffrey P. Regal
36
FI — Treasurer (2006)
GFA — Treasurer (2006)
Vice President — Fund Business Management Group, Capital Research and Management Company
Martin A. Romo
40
FI — Senior Vice President (1999)
Senior Vice President — Capital World Investors, Capital Research Company1; Director, Capital Research Company1; Director, The Capital Group Companies, Inc.1
Paul F. Roye
54
AMBAL — Senior Vice President (2007)
IFA — Senior Vice President (2007)
Senior Vice President — Fund Business Management Group, Capital Research and Management Company;
Director, American Funds Service Company1; former Director of Division of Investment Management, United States Securities and Exchange Commission
John H. Smet
51
AMBAL — Senior Vice President (2000)
Senior Vice President — Fixed Income, Capital Research and Management Company; Director, American Funds Distributors, Inc.1
Carmelo Spinella
44
ICA — Treasurer (2006)
Senior Vice President — Fund Business Management Group, Capital Research and Management Company;
Director, American Funds Service Company1
Andrew B. Suzman
41
IFA — Senior Vice President (2004)
Senior Vice President — Capital World Investors, Capital Research Company1; Director, Capital Research Company1
Bradley J. Vogt
43
GFA — Senior Vice President (1999)
President and Director, Capital Research Company1; Senior Vice President — Capital World Investors, Capital Research Company1; Director, American Funds Distributors, Inc.1; Director, Capital Group Research, Inc.1; Director, Capital International Research, Inc.1; Director, The Capital Group Companies, Inc.1
1Company affiliated with Capital Research and Management Company.
No officer, director or employeepart of the investment adviser receives any remuneration from the fund. All of the executive officers listed are officers and/or directors/trustees of one or more of the other funds for which Capital Research and Management Company serves as investment adviser except the following: Martin A. Romo, Carmelo Spinella and Bradley J. Vogt.
The Investment Company of America — Advisory Board
The directors of ICA have established an advisory board whose members are, in the judgment of the directors, highly knowledgeable about world political and economic matters. In additionmanagement process is preferable to holding meetings with the board of directors, members of the advisory board, while not participating in specific investment decisions, consult from time to time with the investment adviser, primarily with respect to world trade and business conditions. Members of the advisory board, however, possess no authority or responsibility with respect to the fund’s investments or management. The following sets out additional information about the advisory board members. Advisory board members terms are generally two years in length and may be renewed without limit in time.
Name and age
(year first elected)
Principal occupation(s) during
past five years
Number of
boards1 which
Advisory Board
Member serves
Other
directorships2
held
Thomas M. Crosby, Jr.
69
(1995)
Partner, Faegre & Benson (law firm)0None
Ellen H. Goldberg
62
(1998)
Consultant; Interim President, Santa Fe Institute (former President); Professor Emeritus, University of New Mexico0None
William H. Kling
65
(1985)
President and CEO, American Public Media Group7Irwin Financial Corporation
John C. Mazziotta
58
(2007)
Chair, Department of Neurology, UCLA; Associate Director, Semel Institute, UCLA; Director, Brain Mapping Center, UCLA0None
Robert J. O’Neill
71
(1988)
Member of the Board of Directors, The Lowy Institute for International Policy Studies, Sydney, Australia; former Planning Director and acting CEO, United States Studies Centre, University of Sydney, Australia; former Deputy Chairman of the Council and Chairman of the International Advisory Panel, Graduate School of Government, University of Sydney, Australia; former Chairman of the Council, Australian Strategic Policy Institute2None
William J. Spencer
77
(2006)
Chairman Emeritus and former Chairman of the Board and CEO, SEMATECH (research and development consortium)0LECG Corporation
Norman R. Weldon
73
(1977)
Managing Director, Partisan Management Group, Inc. (venture capital investor in medical device companies); former Chairman of the Board, AtriCure, Inc.; former Chairman of the Board, Novoste Corporation0None
1
Funds managed by Capital Research and Management Company, including the American Funds®; American Funds Insurance Series®, which is comprised of 15 funds and serves as the underlying investment vehicle for certain variable insurance contracts; American Funds Target Date Retirement Series,SM Inc., which is composed of nine funds and is available to investors in tax-deferred retirement plans and IRAs; and Endowments, which is composed of two funds and is available to certain nonprofit organizations.
2This includes all directorships (other than those of the American Funds or other funds managed by Capital Research and Management Company) that are held by each advisory board member as a director of a public company or registered investment company.
Additional information
Independent registered public accounting firm
For the fund’s current fiscal year, the boards of AMBAL, FI, GFA and IFA (including a majority of independent directors) selected Deloitte & Touche LLP (“D&T”) as the independent registered public accounting firm forhaving the fund and the board of ICA similarly selected PricewaterhouseCoopers LLP (“PwC”) as the fund’s independent registered public accounting firm. D&T has served as the independent registered public accounting firm for AMBAL and FI since 1991 and for GFA and IFA since 1973. PwC has served as ICA’s independent registered public accounting firm since 1934. No representative of either D&T or PwC is expected to attend the meeting. In reliance on Rule 32a-4 under the 1940 Act, the fund is not seeking shareholder ratification of the selection of its independent registered public accounting firm.
The audit committees of AMBAL, FI, GFA and IFA have discussed with D&T representatives, and the audit committee of ICA has discussed with PwC representatives, the independence of D&T or PwC from the fund and its management, including the matters disclosed in the letter from D&T or PwC required by Independence Standards Board Standard No. 1, as amended. The audit committees of the funds have also considered whether the provision of non-audit services described below is compatible with maintaining their respective independent registered public accounting firm’s independence.
Each fund’s audit committee is required to pre-approve all audit and permissible non-audit services that the audit committee considers compatible with maintaining the independent registered public accounting firm’s independence. This pre-approval requirement extends to all non-audit services provided to the fund, the investment adviser, and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the fund, if the engagement relates directly to the operations and financial reporting of the fund. The audit committee does not delegate its responsibility to pre-approveboards make these services to the investment adviser; however, the audit committee may, in its discretion, delegate to one or more committee members the authority to review and pre-approve audit and permissible non-audit services. Actions taken under any such delegation are reported to the full audit committee at its next meeting. While the pre-approval requirement may be waived with respect to non-audit services if certain conditions are met, the pre-approval requirement was not waived for any of the services listed below.
The following table sets forth the fees billed by D&T and PwC for audit and other services provided to the funds in respect of each fund’s fiscal year for 2006 and 2007:
           
 AMBALFIGFAIFAICA
Billed to the funds:2006200720062007200620072006200720062007
Audit fees$69,000$73,000$68,000$72,000$73,000$77,000$101,000$108,000$99,000$102,000
Audit-related fees1
15,00016,0009,00010,00032,00071,00018,00027,000
none5
none5
Tax fees2
6,0006,0006,0009,0009,0006,0006,0006,0007,0007,000
All other feesnonenonenonenonenonenonenonenonenonenone
Billed to the investment
adviser and its affiliates3:
          
Audit-related fees$796,000$916,000$796,000$916,000$415,000$1,011,000$374,000$850,000nonenone
Tax fees9,0002,0009,0002,0006,0005,000none12,0004,0004,000
All other fees4
nonenonenonenone9,000none21,000nonenonenone
1Fees for assurance and related services related to the examination of the fund’s investment adviser conducted in accordance with the Statement of Auditing Standards Number 70 issued by the American Institute of Certified Public Accountants.
2Fees for professional services relating to the preparation of the fund’s tax returns.
3Includes only fees for non-audit services billed to the adviser and its affiliates for engagements that relate directly to the operations and financial reporting of the fund and were subject to the pre-approval policies described above.
4Other fees consist of consulting services related to the fund’s compliance program.
5PwC audits ICA and did not provide audit-related services during the fiscal years presented.
There were no amounts that were required to be approved by a fund’s audit committee pursuant to the de minimis exception for the last two fiscal years of any fund.

Aggregate non-audit fees paid to the fund’s independent registered public accounting firm, including fees for all services billed to the investment adviser and affiliates that provide ongoing services to the funds, were as follows:
       
 
Paid by
fund
2006
Paid by
investment
adviser
2006
Total - 2006
Paid by
fund
2007
Paid by
investment
adviser
2007
Total - 2007
AMBAL$21,000$1,080,000$1,101,000$22,000$1,204,000$1,226,000
FI15,0001,081,0001,096,00019,0001,205,0001,224,000
GFA41,000714,000755,00077,0001,286,0001,363,000
IFA24,000802,000826,00033,0001,130,0001,163,000
ICA7,00014,00021,0007,0004,00011,000
The non-audit services represented by these amounts were brought to the attention of the audit committee and considered to be consistent with maintaining the independent registered accounting firm’s independence.
Other matters
Neither the persons named as proxies nor the board of directors are aware of any matters that will be presented for action at the meeting other than the proposal described herein. If any other matters properly requiring a vote of shareholders arise, the proxies will confer upon the person or persons entitled to vote the shares in respect of any such matters the right to vote in accordance with their best judgment in the interests of the fund and its shareholders.
Shareholder proposals
The Investment Company of America: Following the upcoming shareholder meeting on August 7, 2008, the fund expects to hold its next annual meeting of shareholders in August 2009. Any shareholder proposal, including notices of director nomination, must be received no later than February 4, 2009 to be considered for inclusion in the fund’s 2009 proxy materials.
American Balanced Fund, Fundamental Investors, The Growth Fund of America and The Income Fund of America: The fund does not hold annual shareholders meetings. Meetings of shareholders may be called from time to time by either the fund or the fund’s shareholders.
Under the proxy rules of the U.S. Securities and Exchange Commission shareholder proposals that meet certain conditions may be included in a fund’s proxy statement for a particular meeting. The rules currently require that for future shareholder meetings, the shareholder must be a record or beneficial owner of fund shares either (i) with a value of at least $2,000 or (ii) in an amount representing at least 1% of the fund’s securities to be voted, at the time the proposal is submitted and for one year prior thereto, and must continue to own such shares through the date on which the meeting is held. In addition, the rules require that a proposal submitted for inclusion in a fund’s proxy materials for a subsequent shareholder meeting be received by the fund a reasonable time before the fund begins to print and mail the proxy materials for that meeting. The fact that the fund receives a proposal from a qualified shareholder in a timely manner does not ensure its inclusion in the proxy materials because there are other requirements under the proxy rules for such inclusion.
Shareholders who wish to suggest candidates for board membership to the nominating committee for consideration may do so by submitting a written notice to the Secretary of the fund at 333 South Hope Street, 55th Floor, Los Angeles, CA 90071. The notice must be accompanied by complete biographical and occupational data of the prospective nominee, along with written consent of the prospective nominee for consideration of his or her name by the nominating committee.decisions.
Annual report delivery
Each fund will furnish, without charge, a copy of its most recent annual report and/or semi-annual report, to any shareholder upon request. Such requests should be directed to the fund’s secretary at 333 South Hope Street, 55th Floor, Los Angeles, CA 90071, or by telephoning 800/421-0180. Shareholder reports for each fund are also available on the American Funds website at americanfunds.com.
General information
Capital Research and Management Company is the investment adviser to the fund and is located at 333 South Hope Street, Los Angeles, CA 90071 and 6455 Irvine Center Drive, Irvine, CA 92618. American Funds Distributors, Inc. is the principal underwriter of the fund’s shares and is located at the Los Angeles and Irvine addresses above and also at 3500 Wiseman Boulevard, San Antonio, TX 78251, 8332 Woodfield Crossing Boulevard, Indianapolis, IN 46240, and 5300 Robin Hood Road, Norfolk, VA 23513.
Communicating with the fund’s directors and officers
Correspondence intended for the directors and/or officers of the fund should be directed to the fund’s Secretary at 333 South Hope Street, 55th Floor, Los Angeles, California, 90071.
The enclosed proxy is solicited by and on behalf of the board of directors of each fund. Each fund will pay its share of the cost of soliciting proxies, including the printing, handling and mailing of the proxies and related materials. In addition to solicitation by mail, certain officers and directors of the fund, who will receive no extra compensation for their services, may solicit proxies by telephone, telegram or personally. We urge all shareholders to vote their shares by mail, by telephone or via the Internet. If voting by mail, please mark, sign, date, and return the proxy card(s) in the enclosed envelope, which requires no postage if mailed in the United States. To vote your proxy by telephone or via the Internet, please follow the instructions that appear on the enclosed insert.
One copy of this proxy statement may be delivered to multiple shareholders who share a single address. If you would like to obtain an additional copy of this proxy statement, free of charge, please contact your fund’s Secretary in writing at 333 South Hope Street, 55th Floor, Los Angeles, CA 90071, or by telephoning 800/421-0180. These requests will be honored within three business days of receipt. If you received a proxy statement for each shareholder who shares your address and would like to receive a single copy of such material in the future, please also write to or call your fund’s Secretary using the address or telephone number indicated above.
By order of the Boards of Directors,
Vincent P. Corti
Secretary of ICA
Patrick F. Quan
Secretary of AMBAL, FI, GFA and IFA
June 26, 2008

Appendix A
(Investors who own of record, or are known by the fund to own, beneficially 5% or more of any class of fund shares as of April 30, 2008).
            
  AMBALFIGFAIFAICA
Name and AddressClass 
Shares
Held
As % of
shares
outstanding 
Shares
Held
As % of
shares
outstanding 
Shares
Held
As % of
shares
outstanding 
Shares
Held
As % of
shares
outstanding 
Shares
Held
As % of
shares
outstanding 
Edward D. Jones & Co.
Maryland Heights, MO
A
B
383,526,726
22,007,387
19.31
7.97
232,719,260
5,624,552
24.49
14.16
417,757,205
16,362,707
15.69
7.29
932,491,448
36,702,211
27.23
14.52
436,713,846
14,811,241
19.98
12.27
Merrill Lynch
Jacksonville, FL
B
C
R-2
R-3
R-5
 
45,804,026
 
 
14.44
 
5,900,073
 
11.14
12,976,798
75,181,571
5,407,123
37,959,144
35,637,250
5.78
21.62
6.03
8.38
7.09
21,590,942
82,028,931
8.54
17.71
 
15,364,602
 
15.13
Citigroup Global Markets, Inc.
New York, NY
B
C
F
 
37,505,212
 
11.83
 
9,273,169
21,315,678
 
17.50
22.68
12,475,438
50,216,485
74,660,878
5.56
14.44
9.26
18,086,815
70,663,660
7.15
15.25
7,289,435
16,453,167
6.04
16.21
A G Edwards & Sons, Inc.
Saint Louis, MO
A
C
F
 
16,750,467
 
5.28
 
2,893,850
 
5.46
——
200,687,942
30,133,677
5.86
6.50
 
5,608,218
4,489,968
 
5.52
8.85
Charles Schwab & Co., Inc.
San Francisco, CA
F
R-4
R-5
7,751,973
6,808,614
10.78
6.53
6,293,175
2,229,702
6.70
8.06
94,683,211
47,302,876
33,445,696
11.75
8.31
6.65
14,669,3948.954,875,8009.61
Prudential Investment Management Services
Newark, NJ
F3,865,1705.38————8,482,8215.17——
Hartford Life Insurance Co.
Hartford, CT
R-1
R-3
2,007,352
13,854,495
32.91
7.96
315,42918.39
6,447,916
22,722,659
40.74
5.01
1,931,227
6,732,098
39.39
10.98
762,681
3,989,836
36.70
12.40
John Hancock Life Insurance Co.
Boston, MA
R-326,629,74315.29——28,419,3416.27——5,618,98117.47
ING Life Insurance & Annuity
Hartford, CT
R-321,181,14212.16——32,589,7827.199,347,14715.25——
Fidelity Investments Institutional Operations Co.
Covington, KY
R-4
R-5
 
16,104,490
 
23.88
2,659,261
3,341,875
9.62
11.95
59,465,238
85,498,417
10.45
17.01
————
McLeod Health
Wilmington, DE
R-53,607,2925.35————————
UBS Financial Services Inc.
Chicago, IL
R-53,425,6175.08————————


             
  AMBALFIGFAIFAICA
Name and AddressClass 
Shares
Held
As % of
shares
outstanding 
Shares
Held
As % of
shares
outstanding 
Shares
Held
As % of
shares
outstanding 
Shares
Held
As % of
shares
outstanding 
Shares
Held
As % of
shares
outstanding 
Transamerica Life Insurance
Los Angeles, CA
R-3——2,795,7428.51——————
Principal Financial Group
Des Moines, IA
R-4
 
——2,187,5107.91——2,556,9647.30731,4895.42
Capital Group Companies
Master Retirement Plan
Los Angeles, CA
R-5——1,933,6146.91——————
Reed Elsevier
Westwood, MA
R-5——1,930,4546.90——————
The Gates Corporation
Chicago, IL
R-5——1,709,4166.11——————
Nationwide Trust Company
Columbus, OH
R-3
R-5
————23,135,6045.10
3,123,458
2,544,398
5.10
8.46
——
Intersil Corporation
Baltimore, MD
R-5——————2,558,1498.51——
KLA-Tencor Corporation
Lewisville, TX
R-5——————1,715,3325.70——
American Funds 2020 Target Date
Retirement Fund
Los Angeles, CA
R-5——————1,667,7955.55——
Jackson Clinic
Atlanta, GA
R-5——————1,530,8435.09——
Saxon & Co.
Philadelphia, PA
R-4————————889,6086.59
Lockheed Martin Corporation
Quincy, MA
R-5————————39,934,76754.44
Mercer Trust Company
Norwood, MA
R-5————————4,014,2605.47



Appendix B
AMERICAN BALANCED FUND, INC.
FUNDAMENTAL INVESTORS, INC.
THE GROWTH FUND OF AMERICA, INC.
THE INCOME FUND OF AMERICA, INC.
THE INVESTMENT COMPANY OF AMERICA
(the “Fund”)
NOMINATING COMMITTEE CHARTER
I. COMMITTEE ORGANIZATION
The Nominating Committee (“the Committee”), a committee established by the Board of Directors (the “Board”), will be comprised solely of members of the Board who are not considered “interested persons” of the Fund under the Investment Company Act of 1940 (the “Act”), and who are otherwise independent. To be considered independent a member may not, other than in his or her capacity as a member of the Board, the Committee or any other committee of the Board, accept any consulting, advisory or other compensatory fee from the Fund, or be a former officer or director of Capital Research and Management Company (“CRMC”) or any of its affiliates.
The Board will appoint the members of the Committee. If the Board has not designated a Chair of the Committee, the Committee members may designate a Chair by majority vote of all members. The Committee will be composed of at least three independent directors. The Fund’s Secretary will serve as Secretary of the Committee.
The Committee will meet with the frequency, and at the times, determined by the Committee Chair or a majority of Committee members. Under normal circumstances, the Committee is expected to meet at least annually. The Chair will cause notice of each meeting, together with the agenda and any related materials, to be sent to each member, normally at least one week before the meeting. The Chair will cause minutes of each Committee meeting to be prepared and distributed to Committee members promptly. The Committee may ask independent legal counsel, representatives of CRMC or others to attend Committee meetings and provide pertinent information as necessary or desirable. The Committee may also meet in executive session.
II. DUTIES AND RESPONSIBILITIES
The Committee will:
(a)Evaluate the size and composition of the Board, and formulate policies and objectives concerning the desired mix of independent director skills and characteristics. In doing so, the Committee will take into account all factors it considers relevant, including experience, demonstrated capabilities, independence, commitment, reputation, background, understanding of the investment business and understanding of business and financial matters generally. Where feasible and appropriate, the Committee will seek to enhance the diversity of Board membership. The Committee will also consider Board member succession issues.
(b)
Identify and screen independent director candidates for appointment to the Board, and submit final recommendations to the full Board for approval. If the Fund has an Advisory Board, the Committee will perform a similar function in relation to the Advisory Board.1 The Committee will, in identifying and screening candidates, adhere to the policies and objectives it has previously formulated concerning independent director skills and characteristics.
(c)
Review independent director (and, if applicable, Advisory Board member) compensation at least every two years, and expense-reimbursement policies as appropriate. The Committee will make recommendations on these matters to the full Board.2
(d)Review materials, including information drawn from independent director questionnaires, relating to positions, transactions and relationships that could reasonably bear on the independence of directors or raise concerns regarding potential conflicts of interest.
(e)
Make recommendations to the full Board concerning the appointment of independent directors to the Board’s committees. The Committee may make recommendations to the full Board concerning the appointment of the Chair of each Board committee and periodic changes in those appointments and designations.3
(f)Periodically consider the responsibilities of Board committees, the continuing need for each committee, the possible need for additional committees, and the desirability of combining or reorganizing committees, and make recommendations to the full Board with respect to such matters.
______________________
1Committee members are encouraged to be alert to potential candidates on an ongoing basis, so that a pool of prospects is available for consideration when needs arise. As part of the identification and screening process, the Committee may consider candidates CRMC suggests, and may involve CRMC representatives in screening candidates. However, the decision to approve candidates for submission to the Board (or Advisory Board, if applicable) will be made exclusively by the Committee.
2Director compensation recommendations may take into account the size of the Fund, the demands placed on the independent directors, the practices of other mutual fund groups, the need to attract and retain qualified independent directors, any relevant regulatory or judicial developments, and other considerations deemed appropriate by the Committee.
3Recommendations in this area will be made after consideration of all relevant factors, including the desires and capacities of individual directors, and their roles on the boards and board committees of other funds managed by CRMC. Formal term limits for committee members or Chairs are not necessary, but the Committee will periodically consider their terms of service and the possible desirability of changes.
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III. AUTHORITY AND RESOURCES
The Committee will have the resources and authority appropriate to discharge its responsibilities, including, among other things, the authority to retain a search firm to assist the Committee in identifying, screening and attracting independent directors.
Independent legal counsel to the independent directors will serve as independent legal counsel to the Committee.
IV. POLICIES AND PROCEDURES
The Committee’s policies and procedures may change from time to time to reflect new or evolving business conditions or nominating committee practices. In meeting its responsibilities, the Committee is expected to:
(a)
Provide oversight regarding the orientation of new independent directors.4 The Committee Chair will designate an experienced independent director to assist, and be available to, each new independent director during his or her first year of service on the Board.
(b)Consider, at such times as the Committee may deem appropriate, whether the composition of the Board, its committees (and, if applicable, the Fund’s Advisory Board) reflect an appropriate blend of skills, backgrounds and experience, in relation to the goal of maximizing their effectiveness. The Committee may also consider as appropriate, Board member attendance.
(c)Periodically review and reassess the adequacy of this Charter, and recommend to the full Board any changes deemed advisable.

______________________
4It is expected that orientation materials will be provided to each new director and one or more orientation sessions arranged. These sessions should be geared towards providing a working knowledge of the duties and obligations of mutual fund directors and their role in overseeing mutual fund investments and operations. Orientation sessions may be facilitated by or include members of the Committee, representatives of CRMC and/or independent legal counsel, as appropriate. New independent directors are encouraged to participate in other educational opportunities, including those provided by the Investment Company Institute.

Printed with SOY INK
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The Capital Group Companies
American Funds          Capital Research and Management          Capital International          Capital Guardian          Capital Bank and Trust
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                                                 PROXY CARD

PROXY SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS
FOR THE MEETING OF SHAREHOLDERS TO BE HELD AUGUST 7, 2008

The undersigned hereby appoints Vincent P. Corti, Paul G. Haaga, Jr., Patrick F. Quan, Donald H. Rolfe and Paul F. Roye, and each of them, his/her true and lawful agents and proxies with full power of substitution to represent the undersigned at the Meeting of Shareholders of American Balanced Fund, Inc., Fundamental Investors, Inc., The Growth Fund of America, Inc., The Income Fund of America, Inc. and The Investment Company of America to be held at the offices of the Capital Group Companies, Inc., 333 South Hope Street, 55th Floor, Los Angeles, California, on Thursday, August 7, 2008 at 9:00 a.m., on all matters coming before the meeting.

This proxy when properly executed will be voted in the manner directed herein by the undersigned shareholder.
VOTE VIA THE INTERNET:  www.proxy-direct.com 
VOTE VIA THE TELEPHONE:  1-866-241-6192
Note:  Please sign exactly as your name(s) appear on this card.  Joint owners should each sign individually.  Corporate proxies should be signed in full corporate name by an authorized officer.  Fiduciaries should give full titles.

Signature

Signature of Joint Owners, if any

Date                                                   AMF_18989_053008
FUNDSFUNDSFUNDS
American Balanced Fund, Inc.Fundamental Investors, Inc.The Growth Fund of America, Inc.
The Income Fund of America, Inc. The Investment Company of America

On the reverse, you will be asked to vote on only the funds that you own, although all funds that are contained in the proxy statement will appear.



VOTING OPTIONS
Read your proxy statement and have it at hand when voting.
[Graphic of computer][Graphic of telephone][Graphic of envelope] [Graphic of person walking] 
VOTE ON INTERNETVOTE BY PHONE VOTE BY MAIL VOTE IN PERSON 
Log on to: Call 1-866-241-6192 Vote, sign and date this ProxyAttend Shareholder Meeting 
www.proxy-direct.com Follow the recorded Card and return in the 333 South Hope Street 
Follow the on-screen instructions instructions postage-paid envelope 55th Floor 
available 24 hoursavailable 24 hourson August 7, 2008 

[logo - American Funds®]
                                                 PROXY CARD

PROXY SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS
FOR THE MEETING OF SHAREHOLDERS TO BE HELD AUGUST 7, 2008

The undersigned hereby appoints Vincent P. Corti, Paul G. Haaga, Jr., Patrick F. Quan, Donald H. Rolfe and Paul F. Roye, and each of them, his/her true and lawful agents and proxies with full power of substitution to represent the undersigned at the Meeting of Shareholders of American Balanced Fund, Inc., Fundamental Investors, Inc., The Growth Fund of America, Inc., The Income Fund of America, Inc. and The Investment Company of America to be held at the offices of the Capital Group Companies, Inc., 333 South Hope Street, 55th Floor, Los Angeles, California, on Thursday, August 7, 2008 at 9:00 a.m., on all matters coming before the meeting.

This proxy when properly executed will be voted in the manner directed herein by the undersigned shareholder.
VOTE VIA THE INTERNET:  www.proxy-direct.com
VOTE VIA THE TELEPHONE:  1-866-241-6192
/s/ Thomas J. Hamblin
CAPTAL BANK AND TRUST
COMPANY AS TRUSTEE
AUTHORIZED OFFICER
Note:  Please sign exactly as your name(s) appear on this card.  Joint owners should each sign individually.  Corporate proxies should be signed in full corporate name by an authorized officer.  Fiduciaries should give full titles.

Signature

Signature of Joint Owners, if any

Date                                                   AMF_18989_053008
FUNDSFUNDSFUNDS
American Balanced Fund, Inc.Fundamental Investors, Inc.The Growth Fund of America, Inc.
The Income Fund of America, Inc. The Investment Company of America

On the reverse, you will be asked to vote on only the funds that you own, although all funds that are contained in the proxy statement will appear.



VOTING OPTIONS
Read your proxy statement and have it at hand when voting.
[Graphic of computer][Graphic of telephone][Graphic of envelope] [Graphic of person walking] 
VOTE ON INTERNETVOTE BY PHONE VOTE BY MAIL VOTE IN PERSON 
Log on to: Call 1-866-241-6192 Vote, sign and date this ProxyAttend Shareholder Meeting 
www.proxy-direct.com Follow the recorded Card and return in the 333 South Hope Street 
Follow the on-screen instructions instructions postage-paid envelope 55th Floor 
available 24 hoursavailable 24 hourson August 7, 2008 
TO VOTE, MARK BOXES BELOW IN BLUE OR BLACK INK AS FOLLOWS.  Example:  x
1A. Election of Directors for American Balanced Fund, Inc.: 
 01
 Ms. Mary Jane Elmore  07 Mr. Robert G. O'Donnell FORWITHHOLD
FOR ALL
 02 Mr. Robert A. Fox 08 Mr. James J. Postl ALL
ALL
EXCEPT
 03 Ms. Leonade D. Jones 09 Mr. Henry E. Riggs    
 04 Mr. William D. Jones 10 Mr. Isaac Stein o 
o 
o
 05 Mr. John M. Lillie 11 Dr. Patricia K. Woolf    
 06 Prof. John G. McDonald      
To withhold your vote for any individual nominee, mark the “For All Except” box and write the
nominee’s number on the line provided below.

1B. Election of Directors for Fundamental Investors, Inc.: 
 01
 Mr. Ronald P. Badie  07 Prof. John G. McDonald FORWITHHOLDFOR ALL
 02 Mr. Joseph C. Berenato 08 Ms. Gail L. Neale ALLALLEXCEPT
 03 Ms. Louise H. Bryson 09 Ms. Dina N. Perry    
 04 Mr. Robert J. Denison 10 Mr. Henry E. Riggs 
o 
o o
 05 Mr. Robert A. Fox 11 Mr. James F. Rothenberg    
 06 Ms. Leonade D. Jones 12 Dr. Patricia K. Woolf    
To withhold your vote for any individual nominee, mark the “For All Except” box and write the
nominee’s number on the line provided below.

1C. Election of Directors for The Growth Fund of America, Inc.: 
 01
 Mr. Ronald P. Badie  07 Prof. John G. McDonald FORWITHHOLDFOR ALL
 02 Mr. Joseph C. Berenato 08 Ms. Gail L. Neale ALLALLEXCEPT
 03 Ms. Louise H. Bryson 09 Mr. Donald D. O'Neal    
 04 Mr. Robert J. Denison 10 Mr. Henry E. Riggs 
o 
o 
o
 05 Mr. Robert A. Fox 11 Mr. James F. Rothenberg    
 06 Ms. Leonade D. Jones 12 Dr. Patricia K. Woolf    
To withhold your vote for any individual nominee, mark the “For All Except” box and write the
nominee’s number on the line provided below.

1D. Election of Directors for The Income Fund of America, Inc.: 
 01
 Ms. Hilda L. Applbaum  07 Prof. John G. McDonald FORWITHHOLDFOR ALL
 02 Ms. Mary Jane Elmore 08 Mr. James J. Postl ALLALLEXCEPT
 03 Mr. Robert A. Fox 09 Mr. Henry E. Riggs    
 04 Ms. Leonade D. Jones 10 Mr. Isaac Stein o o o
 05 Mr. William D. Jones 11 Dr. Patricia K. Woolf    
 06 Mr. John M. Lillie      
To withhold your vote for any individual nominee, mark the “For All Except” box and write the
nominee’s number on the line provided below.

1E. Election of Directors for The Investment Company of America: 
 01
 Ms. Louise H. Bryson  08 Prof. John G. McDonald FORWITHHOLDFOR ALL
 02 Ms. Mary Anne Dolan 09 Ms. Bailey Morris-Eck ALLALLEXCEPT
 03 Mr. Martin Fenton 10 Mr. Richard G. Newman    
 04 Mr. Leonard R. Fuller 11 Mr. Donald D. O'Neal o 
o 
o
 05 Mr. Claudio X. Gonzalez Laporte 12 Dr. Olin C. Robison    
 06 Mr. L. Daniel Jorndt 13 Mr. R. Michael Shanahan    
 07 Mr. James B. Lovelace      
To withhold your vote for any individual nominee, mark the “For All Except” box and write the
nominee’s number on the line provided below.

IMPORTANT
Shareholders can help the Fund avoid the necessity and expense of sending follow-up letters by promptly signing and returning this Proxy.
PLEASE SIGN AND DATE ON THE REVERSE SIDE BEFORE MAILING.
AMF_18989_053008
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Every proxy vote is important!
Vote your proxy on the phone or Internet.
It saves money! Telephone and Internet voting saves postage costs, which can help
minimize fund expenses.
It saves time! Telephone and Internet voting is instantaneous 24 hours a day.
It’s easy! Just follow these simple steps:
1.    Read your proxy statement and have it at hand.
2.    Call toll-free 1-866-241-6192 or go to the website:
       https://vote.proxy-direct.com
3.    Follow the recorded or on-screen directions.
4.    Do not mail your proxy card when you vote by phone or Internet.