THE FUND PROVIDES SPANISH TRANSLATIONS IN CONNECTION WITH THE PUBLIC OFFERING
AND SALE OF ITS SHARES. THE FOLLOWING IS A FAIR AND ACCURATE ENGLISH
TRANSLATION OF A SPANISH LANGUAGE PROSPECTUS FOR THE FUND.
/s/ Julie F. Williams
Julie F. Williams
Secretary
<PAGE>
The Cash Management Trust of America/(R)/
The U.S. Treasury Money Fund of America/SM/
The Tax-Exempt Money Fund of America/SM/
Prospectus
DECEMBER 1, 1999
THE SECURITIES AND EXCHANGE COMMISSION HAS NOT APPROVED
OR DISAPPROVED OF THESE SECURITIES. FURTHER, IT HAS NOT DETERMINED THAT THIS
PROSPECTUS IS ACCURATE OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS
A CRIMINAL OFFENSE.
<PAGE>
<PAGE>
---------------------------------------------------------
THE CASH MANAGEMENT TRUST OF AMERICA
THE U.S. TREASURY MONEY FUND OF AMERICA
THE TAX-EXEMPT MONEY FUND OF AMERICA
333 South Hope Street
Los Angeles, California 90071
<TABLE>
<CAPTION>
TICKER FUND
FUND SYMBOL NEWSPAPER ABBREV NO.
-------------------------------------------------------------------------
<S> <C> <C> <C>
The Cash Management Trust of America CTAXX CashMgt 09
-------------------------------------------------------------------------
The U.S. Treasury Money Fund of America UTAXX Us Tr Am 49
-------------------------------------------------------------------------
The Tax-Exempt Money Fund of America TEAXX TEMony 39
</TABLE>
<TABLE>
<CAPTION>
TABLE OF CONTENTS
-------------------------------------------------------
<S> <C>
Risk/Return Summary 2
-------------------------------------------------------
Fees and Expenses of the Fund 7
-------------------------------------------------------
Investment Objective, Strategies and Risks 9
-------------------------------------------------------
Year 2000 10
-------------------------------------------------------
Management and Organization 11
-------------------------------------------------------
Shareholder Information 12
-------------------------------------------------------
Purchase and Exchange of Shares 13
-------------------------------------------------------
Distribution Arrangements 16
-------------------------------------------------------
Financial Highlights 17
-------------------------------------------------------
</TABLE>
1
09/39/49-010-1299/RRD
MONEY MARKET FUNDS / PROSPECTUS
<PAGE>
---------------------------------------------------------
RISK/RETURN SUMMARY
The funds provide you an opportunity to earn income on your cash reserves (free
from federal income tax in the case of Tax-Exempt Money Fund) while preserving
the value of your investment and maintaining liquidity. The Cash Management
Trust seeks to achieve this objective by investing primarily in high quality
money market instruments such as commercial paper and commercial bank
obligations; U.S. Treasury Money Fund by investing exclusively in U.S. Treasury
securities; and Tax-Exempt Money Fund by investing primarily in securities that
are exempt from regular federal income tax (the fund may, however, invest in
securities that would subject you to alternative minimum taxes).
Although the funds attempt to maintain a constant net asset value of $1.00 per
share, there can be no guarantee that the funds will be able to do so, and you
may lose money by investing in the funds.
Your investment in the funds is not a bank deposit and is not insured or
guaranteed by the Federal Deposit Insurance Corporation or any other government
agency, entity or person.
2
MONEY MARKET FUNDS / PROSPECTUS
<PAGE>
INVESTMENT RESULTS
The following information illustrates how the funds' results fluctuate. Past
results are not an indication of future results.
Here are each fund's results calculated without a sales charge on a calendar
year basis.
CASH MANAGEMENT TRUST
[bar chart]
1989 9.05%
1990 7.89%
1991 5.51%
1992 3.14%
1993 2.54%
1994 3.66%
1995 5.50%
1996 4.93%
1997 5.11%
1998 5.05%
[end bar chart]
The fund's year-to-date return for the nine months ended September 30, 1999
was 3.37%.
-------------------------------------------------------------------------------
The fund's highest/lowest quarterly results during this time period were:
<TABLE>
<CAPTION>
<S> <C> <C>
HIGHEST 2.34% (quarter ended June 30, 1989)
LOWEST 0.62% (quarter ended June 30, 1993)
</TABLE>
3
MONEY MARKET FUNDS / PROSPECTUS
<PAGE>
U.S. TREASURY MONEY FUND
[bar chart]
1992 3.05%
1993 2.48%
1994 3.36%
1995 5.03%
1996 4.59%
1997 4.75%
1998 4.44%
[end bar chart]
The fund's year-to-date return for the nine months ended September 30, 1999
was 2.98%.
-------------------------------------------------------------------------------
The fund's highest/lowest quarterly results during this time period were:
<TABLE>
<CAPTION>
<S> <C> <C>
HIGHEST 1.27% (quarter ended June 30, 1995)
LOWEST 0.60% (quarter ended June 30, 1993)
</TABLE>
4
MONEY MARKET FUNDS / PROSPECTUS
<PAGE>
TAX-EXEMPT MONEY FUND
[bar chart]
1990 5.40%
1991 4.17%
1992 2.51%
1993 1.83%
1994 2.23%
1995 3.21%
1996 2.85%
1997 3.00%
1998 2.83%
[end bar chart]
The fund's year-to-date return for the nine months ended September 30, 1999
was 1.85%.
-------------------------------------------------------------------------------
The fund's highest/lowest quarterly results during this time period were:
<TABLE>
<CAPTION>
<S> <C> <C>
HIGHEST 1.37% (quarter ended December 31, 1990)
LOWEST 0.42% (quarter ended March 31, 1994)
</TABLE>
5
MONEY MARKET FUNDS / PROSPECTUS
<PAGE>
For periods ended December 31, 1999:
<TABLE>
<CAPTION>
AVERAGE ANNUAL CASH MANAGEMENT U.S. TREASURY TAX-EXEMPT
TOTAL RETURN/1/ TRUST MONEY FUND MONEY FUND
<S> <C> <C> <C>
One Year 5.05% 4.44% 2.83%
--------------------------------------------------------------
Five Years 4.85% 4.43% 2.82%
--------------------------------------------------------------
Ten Years 5.22% n/a n/a
--------------------------------------------------------------
Lifetime 7.46%/2/ 4.10%/3/ 3.16%/4/
--------------------------------------------------------------
7-day Yield/1/ 4.73% 3.89% 2.62%
</TABLE>
(For current yield information, please call American FundsLine/r/ at
1-800-325-3590)
1 These fund results were calculated at net asset value according to a required
standard formula.
2 The fund began investment operations on November 3, 1976.
3 The fund began investment operations on February 1, 1991.
4 The fund began investment operations on October 24, 1989.
6
MONEY MARKET FUNDS / PROSPECTUS
<PAGE>
---------------------------------------------------------
FEES AND EXPENSES OF THE FUNDS
The following describes the fees and expenses that you may pay if you buy and
hold shares of the funds.
<TABLE>
<CAPTION>
SHAREHOLDER FEES
(fees paid directly from your investment)
-----------------------------------------------------------
<S> <C>
Maximum sales charge imposed on purchases 0%
(as a percentage of offering price)
-----------------------------------------------------------
Maximum sales charge imposed on reinvested dividends 0%
-----------------------------------------------------------
Maximum deferred sales charge 0%
-----------------------------------------------------------
Redemption or exchange fees 0%
</TABLE>
<TABLE>
<CAPTION>
ANNUAL FUND OPERATING EXPENSES
(expenses that are deducted from fund assets)
CASH MANAGEMENT U.S. TREASURY TAX-EXEMPT
TRUST MONEY FUND MONEY FUND
------------------------------------------------------------------------------
<S> <C> <C> <C>
Management Fees 0.28% 0.30% 0.44%/1/
------------------------------------------------------------------------------
Service (12b-1) Fees 0.09%/2/ 0.10%/2/ 0.05%/2/
------------------------------------------------------------------------------
Other Expenses 0.21% 0.19% 0.19%
------------------------------------------------------------------------------
Total Annual Fund Operating 0.58% 0.59% 0.68%
Expenses
------------------------------------------------------------------------------
Fee Waiver - - 0.03%
------------------------------------------------------------------------------
Net Expenses 0.58% 0.59% 0.65%
</TABLE>
1 The fund's Investment Advisory Service Agreement provides for fee reductions
to the extent that annual operating expenses exceed 0.75% of the fund's
average net assets. Capital Research and Management Company has also
voluntarily agreed to waive its fees to the extent necessary to ensure that
the fund's expenses do not exceed 0.65%. With the waiver, management fees (as
a percentage of average net assets) are 0.41% and total operating expenses are
0.65%. Under certain circumstances, as described in the statement of
additional information, the fund may be required to repay amounts waived.
/2/ 12b-1 expenses may not exceed 0.15% of the fund's average net assets
annually.
7
MONEY MARKET FUNDS / PROSPECTUS
<PAGE>
EXAMPLE
This Example is intended to help you compare the cost of investing in the fund
with the cost of investing in other mutual funds.
The Example assumes that you invest $10,000 in the fund for the time periods
indicated and then redeem all of your shares at the end of those periods. The
Example also assumes that your investment has a 5% return each year and that
the fund's operating expenses remain the same. Although your actual costs may
be higher or lower, based on these assumptions your cumulative expenses would
be:
<TABLE>
<CAPTION>
CASH MANAGEMENT U.S. TREASURY TAX-EXEMPT
TRUST MONEY FUND MONEY FUND*
---------------------------------------------------------------------
<S> <C> <C> <C>
One year $ 59 $ 60 $ 69
---------------------------------------------------------------------
Three years $ 186 $ 189 $ 218
---------------------------------------------------------------------
Five years $ 324 $ 329 $ 379
---------------------------------------------------------------------
Ten years $ 726 $ 738 $ 847
</TABLE>
* Does not reflect fee waiver.
8
MONEY MARKET FUNDS / PROSPECTUS
<PAGE>
---------------------------------------------------------
INVESTMENT OBJECTIVE, STRATEGIES AND RISKS
The investment objective of each fund is to provide you with a way to earn
income on your cash reserves (exempt from federal income tax in the case of
Tax-Exempt Money Fund) while preserving capital and maintaining liquidity.
CASH MANAGEMENT TRUST
Normally, the fund invests substantially in high quality money market
instruments such as commercial paper, commercial bank obligations, savings
association obligations, U.S. or Canadian government securities, and short-term
corporate bonds and notes. In addition, the fund may invest in securities
issued by non-U.S. entities or in securities with credit and liquidity support
features provided by non-U.S. entities. These securities may be affected by
unfavorable political, economic, or governmental developments that could affect
the repayment of principal or the payment of interest. Securities of U.S.
issuers with substantial operations outside the U.S. may also be subject to
similar risks.
U.S. TREASURY MONEY FUND
The fund's portfolio consists entirely of U.S. Treasury securities, which are
guaranteed by the United States government. These securities are generally
affected by changes in the level of interest rates. For example, the value of
U.S. Treasury securities generally will decline when interest rates rise and
vice versa. A security backed by the U.S. Treasury or the full faith and credit
of the United States is guaranteed only as to the timely payment of interest
and principal when held to maturity. Accordingly, the current market prices for
such securities are not guaranteed and will fluctuate.
TAX-EXEMPT MONEY FUND
The fund invests substantially in securities that are exempt from regular
federal income tax. However, the fund may purchase securities that would
subject you to federal alternative minimum tax. The fund may also invest in
municipal securities that are supported by credit and liquidity enhancements.
Changes in the credit quality of banks and financial institutions providing
these enhancements could cause the fund to experience a loss and may affect its
share price. In addition, the fund may invest a substantial portion of its
portfolio in taxable short-term debt securities in response to abnormal market
conditions (which may detract from achievement of the fund's objective over the
short term).
Each fund relies on the professional judgment of its investment adviser,
Capital Research and Management Company, to make decisions about the fund's
portfolio securities.
9
MONEY MARKET FUNDS / PROSPECTUS
<PAGE>
---------------------------------------------------------
YEAR 2000
The date-related computer issue known as the "Year 2000 problem" could have an
adverse impact on the quality of services provided to the funds and their
shareholders. However, the funds understand that their key service providers -
including the investment adviser and its affiliates - have updated all of their
computer systems to process date-related information properly following the
turn of the century. In addition, the Year 2000 problem may adversely affect
the issuers in which the funds invest. For example, issuers may incur
substantial costs to address the problem. They may also suffer losses caused by
corporate and governmental data processing errors. The funds and their
investment adviser will continue to monitor developments relating to this
issue.
10
MONEY MARKET FUNDS / PROSPECTUS
<PAGE>
---------------------------------------------------------
MANAGEMENT AND ORGANIZATION
INVESTMENT ADVISER
Capital Research and Management Company, an experienced investment management
organization founded in 1931, serves as investment adviser to the funds and
other funds, including those in The American Funds Group. Capital Research and
Management Company, a wholly owned subsidiary of The Capital Group Companies,
Inc., is headquartered at 333 South Hope Street, Los Angeles, CA 90071. Capital
Research and Management Company manages the investment portfolio and business
affairs of the funds. The total management fee paid by the funds, as a
percentage of average net assets, for the previous fiscal year is discussed
earlier under "Fees and Expenses of the Fund."
Capital Research and Management Company and its affiliated companies have
adopted a personal investing policy that is consistent with the recommendations
contained in the May 9, 1994 report issued by the Investment Company
Institute's Advisory Group on Personal Investing. This policy has also been
incorporated into each fund's code of ethics.
11
MONEY MARKET FUNDS / PROSPECTUS
<PAGE>
---------------------------------------------------------
SHAREHOLDER INFORMATION
SHAREHOLDER SERVICES
American Funds Service Company, the funds' transfer agent, offers you a wide
range of services you can use to alter your investment program should your
needs and circumstances change. These services are available only in states
where they may be legally offered and may be terminated or modified at any time
upon 60 days' written notice. For your convenience, American Funds Service
Company has four service centers across the country.
AMERICAN FUNDS SERVICE COMPANY SERVICE AREAS
Call toll-Free from anywhere in the U.S.
(8 a.m. to 8 p.m. ET):
800/421-0180
[map of the United States]
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Western Western Central Eastern Central Eastern
Service Center Service Center Service Center Service Center
American Funds American Funds American Funds American Funds
Service Company Service Company Service Company Service Company
P.O. Box 2205 P.O. Box 659522 P.O. Box 6007 P.O. Box 2280
Brea, California San Antonio, Texas Indianapolis, Indiana Norfolk, Virginia
92822-2205 78265-9522 46206-6007 23501-2280
Fax: 714/671-7080 Fax: 210/474-4050 Fax: 317/735-6620 Fax: 757/670-4773
</TABLE>
A COMPLETE DESCRIPTION OF THE SERVICES WE OFFER IS INCLUDED IN THE FUNDS'
STATEMENT OF ADDITIONAL INFORMATION. In addition, an easy-to-read guide to
owning a fund in The American Funds Group titled "Welcome to the Family" is
sent to new shareholders and is available by writing or calling American Funds
Service Company.
You may invest in Cash Management Trust and U.S. Treasury Money Fund through
various retirement plans (Tax-Exempt Money Fund is not available for investment
by retirement plans). However, some retirement plans or accounts held by
investment dealers may not offer certain services. If you have any questions,
please contact your plan administrator/trustee or dealer.
12
MONEY MARKET FUNDS / PROSPECTUS
<PAGE>
---------------------------------------------------------
PURCHASE AND EXCHANGE OF SHARES
PURCHASE
Generally, you may open an account by contacting any investment dealer
authorized to sell each fund's shares. You may purchase additional shares using
various options described in the statement of additional information and
"Welcome to the Family."
EXCHANGE
You may exchange your shares into other funds in The American Funds Group
generally without a sales charge. Exchanges of shares from the money market
funds initially purchased without a sales charge generally will be subject to
the appropriate sales charge. Exchanges have the same tax consequences as
ordinary sales and purchases. See "Transactions by Telephone..." for
information regarding electronic exchanges.
THE FUNDS AND AMERICAN FUNDS DISTRIBUTORS, EACH FUND'S PRINCIPAL UNDERWRITER,
RESERVE THE RIGHT TO REJECT ANY PURCHASE ORDER FOR ANY REASON. ALTHOUGH THERE
IS CURRENTLY NO SPECIFIC LIMIT ON THE NUMBER OF EXCHANGES YOU CAN MAKE IN A
PERIOD OF TIME, THE FUNDS AND AMERICAN FUNDS DISTRIBUTORS RESERVE THE RIGHT TO
REJECT ANY PURCHASE ORDER AND MAY TERMINATE THE EXCHANGE PRIVILEGE OF ANY
INVESTOR WHOSE PATTERN OF EXCHANGE ACTIVITY THEY HAVE DETERMINED INVOLVES
ACTUAL OR POTENTIAL HARM TO THE FUNDS.
<TABLE>
<CAPTION>
INVESTMENT MINIMUMS
<S> <C>
To establish an account $2,500
For a retirement plan account $1,000
For a retirement plan account through payroll deduction $ 25
To add to an account $ 50
For a retirement plan account through payroll deduction $ 25
</TABLE>
SHARE PRICE
Each fund calculates its share price, also called net asset value, as of 4:00
p.m. New York time, which is the normal close of trading on the New York Stock
Exchange, every day the Exchange is open. In calculating net asset value,
market prices are used when available. If a market price for a particular
security is not available, each fund will determine the appropriate price for
the security.
13
MONEY MARKET FUNDS / PROSPECTUS
<PAGE>
Your shares will be purchased at the offering price, or sold at the net asset
value, next determined after American Funds Service Company receives and
accepts your request. The offering price is the net asset value plus a sales
charge, if applicable.
SALES CHARGE
The money market funds have no sales charges on purchases of fund shares.
However, if shares of any money market fund are exchanged for shares of another
fund in The American Funds Group, the sales charge applicable to the other fund
may apply.
PLAN OF DISTRIBUTION
Each fund has a Plan of Distribution or "12b-1 Plan" under which it may finance
activities primarily intended to sell shares, provided the categories of
expenses are approved in advance by each fund's board of trustees. Up to 0.15%
of average net assets is paid annually to qualified dealers for providing
certain shareholder services. The 12b-1 fee paid by each fund, as a percentage
of average net assets, for the previous fiscal year is indicated earlier under
"Fees and Expenses of the Fund." Since these fees are paid out of each fund's
assets or income on an ongoing basis, over time they will increase the cost and
reduce the return of an investment and may cost you more than paying higher
initial sales charges.
OTHER COMPENSATION TO DEALERS
American Funds Distributors may provide additional compensation to, or sponsor
informational meetings for, dealers as described in the statement of additional
information.
HOW TO SELL SHARES
Once a sufficient period of time has passed to reasonably assure that checks or
drafts (including certified or cashiers' checks) for shares purchased have
cleared (normally 15 calendar days), you may sell (redeem) those shares in any
of the following ways:
THROUGH YOUR DEALER (CERTAIN CHARGES MAY APPLY)
- Shares held for you in your dealer's name must be sold through the dealer.
WRITING TO AMERICAN FUNDS SERVICE COMPANY
- Requests must be signed by the registered shareholder(s).
- A signature guarantee is required if the redemption is:
14
MONEY MARKET FUNDS / PROSPECTUS
<PAGE>
-- Over $50,000;
-- Made payable to someone other than the registered shareholder(s); or
-- Sent to an address other than the address of record, or an address of
record which has been changed within the last 10 days.
- Additional documentation may be required for sales of shares held in
corporate, partnership or fiduciary accounts.
CHECK WRITING
- Checks must be signed by the authorized number of registered shareholders
exactly as indicated on your checking account signature card.
TELEPHONING OR FAXING AMERICAN FUNDS SERVICE COMPANY, OR BY USING AMERICAN
FUNDSLINE/(R)/ OR AMERICAN FUNDSLINE ONLINE/(R)/:
- Redemptions by telephone or fax (including American FundsLine and American
FundsLine OnLine) are limited to $50,000 per shareholder each day.
- Checks must be made payable to the registered shareholder.
- Checks must be mailed to an address of record that has been used with the
account for at least 10 days.
TRANSACTIONS BY TELEPHONE, FAX, AMERICAN FUNDSLINE, OR AMERICAN FUNDSLINE
ONLINE
Generally, you are automatically eligible to use these services for redemptions
and exchanges unless you notify us in writing that you do not want any or all
of these services. You may reinstate these services at any time.
Unless you decide not to have telephone, fax, or computer services on your
account(s), you agree to hold each fund, American Funds Service Company, any of
its affiliates or mutual funds managed by such affiliates, and each of their
respective directors, trustees, officers, employees and agents harmless from
any losses, expenses, costs or liabilities (including attorney fees) which may
be incurred in connection with the exercise of these privileges, provided
American Funds Service Company employs reasonable procedures to confirm that
the instructions received from any person with appropriate account information
are genuine. If reasonable procedures are not employed, each fund may be liable
for losses due to unauthorized or fraudulent instructions.
15
MONEY MARKET FUNDS / PROSPECTUS
<PAGE>
---------------------------------------------------------
DISTRIBUTION ARRANGEMENTS
DIVIDENDS AND DISTRIBUTIONS
Each fund declares dividends from net investment income daily and distributes
the accrued dividends, which may fluctuate, to shareholders each month.
Dividends begin accruing one day after payment for shares is received by the
fund or American Funds Service Company.
You may elect to reinvest dividends and/or capital gain distributions to
purchase additional shares of this fund or any other fund in The American Funds
Group or you may elect to receive them in cash. Most shareholders do not elect
to take capital gain distributions in cash because these distributions reduce
principal value.
TAXES ON DISTRIBUTIONS
Distributions you receive from the funds may be subject to income tax and may
also be subject to state or local taxes - unless you are exempt from taxation.
For federal tax purposes, any taxable dividends and distributions of short-term
capital gains are treated as ordinary income. The funds' distributions of
long-term capital gains are taxable to you as long-term capital gains. Any
taxable distributions you receive from the funds will normally be taxable to
you when made, regardless of whether you reinvest distributions or receive them
in cash.
Dividends distributed by U.S. Treasury Money Fund will be taxable for federal
income tax purposes but will be tax-exempt for purposes of most states'
personal income tax. Dividends distributed by Tax-Exempt Money Fund generally
will be exempt from federal income tax but generally will be subject to state
income tax. This favorable tax treatment may not apply to Tax-Exempt Money
Fund shareholders who are "substantial users" (or "related persons") of
facilities financed by securities held by Tax-Exempt Money Fund. None of the
funds generally realizes or distributes capital gains; however, if they do,
they will be subject to federal and state income tax.
TAXES ON TRANSACTIONS
Your redemptions, including exchanges, may result in a capital gain or loss for
federal tax purposes. A capital gain or loss on your investment in the funds is
the difference between the cost of your shares, including any sales charges,
and the price you receive when you sell them.
Please see the statement of additional information, the "Welcome to the Family"
guide, and your tax adviser for further information.
16
MONEY MARKET FUNDS / PROSPECTUS
<PAGE>
---------------------------------------------------------
FINANCIAL HIGHLIGHTS
The financial highlights table is intended to help you understand each fund's
results for the past five years. Certain information reflects financial results
for a single fund share. The total returns in the table represent the rate that
an investor would have earned or lost on an investment in the funds (assuming
reinvestment of all dividends and distributions). This information has been
audited by PricewaterhouseCoopers LLP, whose report, along with each fund's
financial statements, is included in the statement of additional information,
which is available upon request.
CASH MANAGEMENT TRUST
<TABLE>
<CAPTION>
YEARS ENDED SEPTEMBER 30
---------------------------
1999 1998 1997 1996 1995
---------------------------------------------
<S> <C> <C> <C> <C> <C>
Net Asset Value, $1.00 $1.00 $1.00 $1.00 $1.00
Beginning of Year
------------------------------------------------------------------------------
INCOME FROM INVESTMENT
OPERATIONS:
Net investment income .045 .050 .049 .050 .052
Total from investment .045 .050 .049 .050 .052
operations
------------------------------------------------------------------------------
LESS DISTRIBUTIONS:
Dividends (from net
investment income) (.045) (.050) (.049) (.050) (.052)
Total distributions (.045) (.050) (.049) (.050) (.052)
------------------------------------------------------------------------------
Net Asset Value, $1.00 $1.00 $1.00 $1.00 $1.00
End of Year
------------------------------------------------------------------------------
Total return 4.59% 5.15% 5.03% 5.06% 5.34%
------------------------------------------------------------------------------
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of year (in $5,863 $4,604 $3,527 $3,304 $2,996
millions)
------------------------------------------------------------------------------
Ratio of expenses to .58% .58% .57% .60% .60%
average net assets
------------------------------------------------------------------------------
Ratio of net income 4.52% 5.02% 4.93% 4.95% 5.21%
to average net assets
------------------------------------------------------------------------------
</TABLE>
17
MONEY MARKET FUNDS / PROSPECTUS
<PAGE>
U.S. TREASURY MONEY FUND
<TABLE>
<CAPTION>
YEARS ENDED SEPTEMBER 30
---------------------------
1999 1998 1997 1996 1995
-------------------------------------------
<S> <C> <C> <C> <C> <C>
Net Asset Value, $1.00 $1.00 $1.00 $1.00 $1.00
Beginning of Year
------------------------------------------------------------------------------
INCOME FROM INVESTMENT
OPERATIONS:
Net investment income .039 .045 .046 .046 .048
Total from investment operations .039 .045 .046 .046 .048
------------------------------------------------------------------------------
LESS DISTRIBUTIONS:
Dividends (from net
investment income) (.039) (.045) (.046) (.046) (.048)
Total distributions (.039) (.045) (.046) (.046) (.048)
------------------------------------------------------------------------------
Net Asset Value, $1.00 $1.00 $1.00 $1.00 $1.00
End of Year
------------------------------------------------------------------------------
Total return 4.00% 4.63% 4.71% 4.66% 4.89%
------------------------------------------------------------------------------
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of year (in $467 $356 $279 $256 $231
millions)
------------------------------------------------------------------------------
Ratio of expenses to .59% .59% .53% .65% .67%
average net assets
------------------------------------------------------------------------------
Ratio of net income 3.95% 4.49% 4.61% 4.53% 4.79%
to average net sssets
------------------------------------------------------------------------------
</TABLE>
18
MONEY MARKET FUNDS / PROSPECTUS
<PAGE>
<TABLE>
<CAPTION>
YEARS ENDED SEPTEMBER 30
---------------------------
1999 1998 1997 1996 1995
-------------------------------------------
<S> <C> <C> <C> <C> <C>
Net Asset Value, $1.00 $1.00 $1.00 $1.00 $1.00
Beginning of Year
------------------------------------------------------------------------------
INCOME FROM INVESTMENT
OPERATIONS:
Net investment income .025 .029 .029 .029 .031
Total from investment operations .025 .029 .029 .029 .031
------------------------------------------------------------------------------
LESS DISTRIBUTIONS:
Dividends (from net
investment income) (.025) (.029) (.029) (.029) (.031)
Total distributions (.025) (.029) (.029) (.029) (.031)
------------------------------------------------------------------------------
Net Asset Value, $1.00 $1.00 $1.00 $1.00 $1.00
End of Year
------------------------------------------------------------------------------
Total return 2.51% 2.97% 2.94% 2.91% 3.14%
------------------------------------------------------------------------------
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of year (in $255 $198 $160 $144 $150
millions)
------------------------------------------------------------------------------
Ratio of expenses to
average net assets -- before fee .68% .71% .74% .77% .75%
waiver
------------------------------------------------------------------------------
Ratio of expenses to
average net assets -- after fee .65% .65% .65% .65% .65%
waiver
------------------------------------------------------------------------------
Ratio of net income 2.33% 2.94% 2.94% 2.88% 3.09%
to average net assets
------------------------------------------------------------------------------
</TABLE>
TAX-EXEMPT MONEY FUND
19
MONEY MARKET FUNDS / PROSPECTUS
<PAGE>
---------------------------------------------------------
NOTES
20
MONEY MARKET FUNDS / PROSPECTUS
<PAGE>
---------------------------------------------------------
NOTES
21
MONEY MARKET FUNDS / PROSPECTUS
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C>
FOR SHAREHOLDER FOR RETIREMENT PLAN FOR DEALER
SERVICES SERVICES SERVICES
American Funds Call your employer or American Funds
Service Company plan administrator Distributors
800/421-0180 800/421-9900 ext. 11
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
FOR 24-HOUR INFORMATION
American FundsLine(R) American FundsLine OnLine(R)
800/325-3590 http://www.americanfunds.com
</TABLE>
Telephone conversations may be recorded or monitored for verification,
recordkeeping and quality assurance purposes.
---------------------------------------------------------
MULTIPLE TRANSLATIONS
This prospectus may be translated into other languages. If there is any
inconsistency or ambiguity as to the meaning of any word or phrase in a
translation, the English text will prevail.
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OTHER FUND INFORMATION
ANNUAL/SEMI-ANNUAL REPORT TO SHAREHOLDERS
Contains additional information about each fund including financial statements,
investment results, portfolio holdings, a statement from portfolio management
discussing market conditions and the funds' investment strategies, and the
independent accountants' report (in the annual report).
STATEMENT OF ADDITIONAL INFORMATION (SAI)
Contains more detailed information on all aspects of the funds, including the
funds' financial statements.
CODE OF ETHICS
Includes a description of the funds' personal investing policy.
The funds' code of ethics and current SAI has been filed with the Securities
and Exchange Commission ("SEC"). The SAI is incorporated by reference into
this prospectus. These and other related materials about each fund are
available for review or to be copied at the SEC's Public Reference Room in
Washington, D.C. (1-800-SEC-0330) or on the SEC's Internet Web site at
http://www.sec.gov.
To request a free copy of any of the documents above:
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Call American Funds Write to the Secretary of the funds
Service Company or 333 South Hope StreetLos Angeles,
800/421-0180 ext. 1 California 90071
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Investment Company File No. 811-2380 (The Cash Management Trust of America)
Investment Company File No. 811-6235 (The U.S. Treasury Money Fund of America)
Investment Company File No. 811-5750 (The Tax-Exempt Money Fund of America)
Printed on recycled paper
