Strategy. The Fund invests all of its assets in the Class 1 shares of the Growth Fund (the Master Growth Fund), a series of the American Funds Insurance Series, a registered open-end investment company. In pursuing its investment objective, the Master Growth Fund invests primarily in common stocks and seeks to invest in companies that appear to offer superior opportunities for growth of capital. The Master Growth Fund may invest up to 25% of its net assets in common stocks and other securities outside the United States, including to a more limited extent, in emerging markets. Although the Master Growth Fund focuses on investments in medium to larger capitalization companies, the Master Growth Fund's investments are not limited to a particular … Show more… The Fund invests all of its assets in the Class 1 shares of the Growth Fund (the Master Growth Fund), a series of the American Funds Insurance Series, a registered open-end investment company. In pursuing its investment objective, the Master Growth Fund invests primarily in common stocks and seeks to invest in companies that appear to offer superior opportunities for growth of capital. The Master Growth Fund may invest up to 25% of its net assets in common stocks and other securities outside the United States, including to a more limited extent, in emerging markets. Although the Master Growth Fund focuses on investments in medium to larger capitalization companies, the Master Growth Fund's investments are not limited to a particular capitalization size. The Master Growth Fund may also invest in other equity type securities, such as preferred stocks, convertible preferred stocks, and convertible bonds. The Master Growth Fund may have significant investments in particular sectors. The Master Growth Funds investment adviser uses a system of multiple portfolio managers in managing the Master Growth Funds assets. Under this approach, the portfolio of the Master Growth Fund is divided into segments managed by individual portfolio managers. The Master Growth Fund relies on the professional judgment of its investment adviser to make decisions about the Master Growth Funds portfolio investments. The basic investment philosophy of the Master Growth Funds investment adviser is to seek to invest in attractively valued companies that, in its opinion, represent good, long-term investment opportunities. Securities may be sold when the Master Growth Funds investment adviser believes that they no longer represent relatively attractive investment opportunities. The Master Growth Funds investment adviser may consider environmental, social and governance (ESG) factors that, depending on the facts and circumstances, are material to the value of an issuer or instrument. Show less