Fund Research for American Funds Hi-Inc Muni Bond F-2 (AHMFX)

  • Fund Overview

    Fund Inception Date: Aug 12, 2008
    Category: High Yield Muni
    Overall Risk: Below Average
    Fund Family: American Funds
    Return Since Inception: 1.11%
    YTD Return: 23.06%
    Yield (TTM): 5.06%
    Net Assets: 42.49 M
    Morningstar Rating:
    3 of 5
    The fund seeks high current income exempt from regular federal income tax.The fund invests at least 80% of assets in, or derives at least 80% of income from, securities that are exempt from regular federal income tax. It may invest, without limitation, in securities that may subject you to federal AMT. The fund invests a significant portion of its portfolio in municipal bonds rated BBB+ or below or Baa1 or below or unrated but determined by the adviser to be of equivalent quality.

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    Details
    Average Eff Duration 6.69 Yrs
    Average Eff Maturity —
    Average Credit Quality BBB
    Morningstar Rating as of 10/31/2009
    YTD Returns as of 11/27/2009    		 Style Box Detail calculations do not include the fund's short positions (if any)

  • Fund Performance

    10 year Growth Chart
    Growth of $10,000 from 08/31/2008 to 10/31/2009
    Mouseover the chart to see values for each month.

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    Total Annualized Returns

    YTD 1 year 3 year 5 year 10 year Since Inception
    Fund 23.06% 16.96% — — 4.05% 1.11%
    +/- Category -5.90% -2.36% — — 0.47% —
    +/- Barclays Municipal TR USD — — — — 5.66% —

    Standardized Annual Returns

    YTD 1 year 3 year 5 year 10 year Since Inception
    Month (as of 10/31/2009) 23.24% 15.16% -0.25% 2.05% 4.05% 1.11%
    Quarter (as of 09/30/2009) 25.45% 7.99% — — — 2.79%
    Fund and Category YTD, 1yr, 3yr and 5yr Returns as of 11/27/2009
    Index YTD,1yr, 3ys and 5yr Returns as of 11/27/2009 10 yr and Since Inception Returns as of 10/31/2009
    Inception Date: 08/12/2008
    Ratings are based on risk-adjusted performance.
    View Total Returns

  • Fund Portfolio Profile

    Sector Breakdown

    Stocks
    General Obligations 1.55%
    Advanced Refunded 0.42%
    State Appropriated Tobacco 0.00%
    Non-state Appropriated Tobacco 2.52%
    Education 4.59%
    Health 11.65%
    Housing 5.55%
    Industrial 6.27%
    Transportation 2.05%
    Utilities 0.59%
    Water/Sewer 1.84%
    Misc. Revenue 25.34%
    Bond Quality
    AAA —
    AA —
    A —
    BBB —
    BB —
    B —
    Below B 3.52%
    Not Rated 0.00%

    Asset Allocation

    Short Long Net Assets
    Cash — 3.95% 3.95%
    Stocks — 0.00% 0.00%
    Bonds — 96.05% 96.05%
    Other — 0.00% 0.00%
    Foreign Stocks
    (as a % of assets)    		 — 0.00% 0.00%
    Data as of 09/30/2009 Data as of 09/30/2009 View Fund Portfolio

    Top 10 Holdings

    Maturity Date Total Holdings Value of Holdings Net Assets
    = Texas St Trans 3% 08/28/2009 30 M 30.13 M 1.47%
    = Buckeye Ohio Tob Settlement Fi To 5.875% 06/01/2030 23.14 M 16.45 M 0.80%
    = Tobacco Settlement Fing Corp L Tob 5.5% 05/15/2030 16.84 M 16.2 M 0.79%
    = Mission Tex Econ Dev Corp Rev Bds 5.2% 04/01/2018 15.3 M 14.32 M 0.70%
    = Maine Fin Auth 9.875% 12/01/2017 15 M 13.1 M 0.64%
    * CITIZENS PPTY INS CORP FLA SENIOR SE 06/01/2017 10.5 M 10.72 M 0.52%
    = Pima Cnty Ariz Indl Dev Auth 6.55% 12/01/2037 14.5 M 10.53 M 0.51%
    = Louisiana Loc Govt Environment Rev 6.75% 11/01/2032 13 M 10.52 M 0.51%
    = Municipal Elec Auth 5.75% 01/01/2019 9.5 M 10.34 M 0.50%
    - Badger Tob Asset Securitizatio As 6.125% 06/01/2027 9.5 M 10.33 M 0.50%
    + Increase - Decrease = No change * New since last portfolio
    Data as of 06/30/2009
    Top 10 holdings account for the fund's short positions (if any). Net short positions appear shaded.
    View Fund Portfolio

  • Sales Information

    Sales Charge %

    Initial —
    Deferred —
    Taken from prospectus dated 11/01/2009
    Expense Ratio (based on net assets) 0.53%
    Taken from annual report dated 07/31/2009

  • Fund Management

    Neil L. Langberg
    Start Date: 09/26/1994
    Langberg is a vice president with Capital Research and Management Company, his employer since 1978.
    Brenda S. Ellerin
    Start Date: 01/01/1998
    Ellerin is a vice president and portfolio manager with Capital Research Company, her employer since 1991.
    Karl J. Zeile
    Start Date: 11/01/2004
    Zeile is the vice president and director of Capital Research Company Investment. He began his professional career 14 years ago; 6 years with Capital Research and Management Company or affiliate.