Strategy. The Fund invests all of its assets in the Class 1 shares of the Global Growth Fund (the Master Global Growth Fund), a series of American Funds Insurance Series, a registered open-end investment company. In pursuing its investment objective, the Master Global Growth Fund invests primarily in common stocks of companies around the world that the Master Global Growth Funds investment adviser believes have the potential for growth. The Master Global Growth Fund may also invest in securities of foreign issuers in the form of depositary receipts or other instruments by which the Fund may obtain exposure to equity investments in local markets. As the Master Global Growth Fund seeks to invest globally, it will allocate its assets among securities … Show more… The Fund invests all of its assets in the Class 1 shares of the Global Growth Fund (the Master Global Growth Fund), a series of American Funds Insurance Series, a registered open-end investment company. In pursuing its investment objective, the Master Global Growth Fund invests primarily in common stocks of companies around the world that the Master Global Growth Funds investment adviser believes have the potential for growth. The Master Global Growth Fund may also invest in securities of foreign issuers in the form of depositary receipts or other instruments by which the Fund may obtain exposure to equity investments in local markets. As the Master Global Growth Fund seeks to invest globally, it will allocate its assets among securities of companies in various countries including the United States and countries with emerging markets (but in no fewer than three countries). Under normal market conditions, the Master Global Growth Fund will invest a percentage of its net assets outside the United States. That percentage will represent at least (a) 40% of the funds net assets, unless market conditions are not deemed favorable by the Master Global Growth Funds investment adviser, in which case 30%, or (b) the percentage of the MSCI All Country World Index represented by companies outside the United States minus 5%, whichever is lower. The Master Global Growth Funds investment adviser uses a system of multiple portfolio managers in managing the Master Global Growth Funds assets. Under this approach, the portfolio of the Master Global Growth Fund is divided into segments managed by individual portfolio managers. The Master Global Growth Fund relies on the professional judgment of its investment adviser to make decisions about the Master Global Growth Funds portfolio investments. The basic investment philosophy of the Master Global 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 Global Growth Funds investment adviser believes that they no longer represent relatively attractive investment opportunities. The Master Global 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