Strategy. The Fund invests all of its assets in the Class 1 shares of the Growth-Income Fund (the Master Growth-Income Fund), a series of the American Funds Insurance Series, a registered open-end investment company. In pursuing its investment objective, the Master Growth-Income Fund invests primarily in common stocks or other equity-type securities, such as preferred stocks, convertible preferred stocks and convertible bonds, that the investment adviser believes demonstrate the potential for appreciation and/or dividends. Although the Master Growth-Income Fund focuses on investments in medium to larger capitalization companies, the Master Growth-Income Fund's investments are not limited to a particular capitalization or size. The Master Growth-Income Fund may invest up to 15% of its net assets outside the United States, including, to … Show more… The Fund invests all of its assets in the Class 1 shares of the Growth-Income Fund (the Master Growth-Income Fund), a series of the American Funds Insurance Series, a registered open-end investment company. In pursuing its investment objective, the Master Growth-Income Fund invests primarily in common stocks or other equity-type securities, such as preferred stocks, convertible preferred stocks and convertible bonds, that the investment adviser believes demonstrate the potential for appreciation and/or dividends. Although the Master Growth-Income Fund focuses on investments in medium to larger capitalization companies, the Master Growth-Income Fund's investments are not limited to a particular capitalization or size. The Master Growth-Income Fund may invest up to 15% of its net assets outside the United States, including, to a more limited extent, in emerging markets. The Master Growth-Income Fund is designed for investors seeking both capital appreciation and income. The Master Growth-Income Fund may have significant investments in particular sectors. The Master Growth-Income Funds investment adviser uses a system of multiple portfolio managers in managing the Master Growth-Income Funds assets. Under this approach, the portfolio of the Master Growth-Income Fund is divided into segments managed by individual portfolio managers. The Master Growth-Income Fund relies on the professional judgment of its investment adviser to make decisions about the Master Growth-Income Funds portfolio investments. The basic investment philosophy of the Master Growth-Income 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-Income Funds investment adviser believes that they no longer represent relatively attractive investment opportunities. The Master Growth-Income 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