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>
[LOGO OF THE AMERICAN FUNDS GROUP(R)]
- --------------------------------------------------------------------------------
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, 1998
THE SECURITIES AND EXCHANGE COMMISSION HAS NOT APPROVED OR DISAPPROVED OF THESE
SECURITIES. FURTHER, IT HAS NOT DETERMINED THAT THIS PROSPECTUS IS TRUTHFUL 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 NEWSPAPER FUND
FUND SYMBOL 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 39
The Tax-Exempt Money Fund of America TEAXX TEMony 49
</TABLE>
- --------------------------------------------------------------------------------
TABLE OF CONTENTS
<TABLE>
<S> <C>
Risk/Return Summary 2
...............................................................................
Fees and Expenses of the Funds 7
...............................................................................
Investment Objective, Strategies and Risks 9
...............................................................................
Important Recent Developments 10
...............................................................................
Management and Organization 10
...............................................................................
Shareholder Information 11
...............................................................................
Purchase and Exchange of Shares 12
...............................................................................
Distribution Arrangements 15
...............................................................................
Financial Highlights 16
</TABLE>
- --------------------------------------------------------------------------------
09/39/49-010-1298/RRD MONEY MARKET FUNDS / PROSPECTUS 1
<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 obliga-
tions; the U.S. Treasury Money Fund by investing exclusively in U.S. Treasury
securities; and the 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 are not bank deposits and are not insured or guar-
anteed by the Federal Deposit Insurance Corporation or any other government
agency, entity or person.
2 MONEY MARKET FUNDS / PROSPECTUS
<PAGE>
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- --------------------------------------------------------------------------------
INVESTMENT RESULTS
The following information illustrates how the funds' results may vary:
Here are each fund's results calculated without a sales charge on a calendar
year basis.
CASH MANAGEMENT TRUST
[BAR CHART APPEARS HERE]
<TABLE>
<CAPTION>
<S> <C>
1988 7.30
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
</TABLE>
This fund's year-to-date return for the nine months ending September 30, 1998
was 3.82%.
The fund's highest/lowest quarterly results during this time period were:
[X] HIGHEST 2.34% (quarter ended June 30, 1989)
[X] LOWEST 0.62% (quarter ended June 30, 1993)
MONEY MARKET FUNDS / PROSPECTUS 3
<PAGE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
U.S. TREASURY MONEY FUND
[BAR CHART APPEARS HERE]
<TABLE>
<CAPTION>
<S> <C>
1992 3.05
1993 2.48
1994 3.36
1995 5.03
1996 4.59
1997 4.75
</TABLE>
The fund's year-to-date return for the nine months ending September 30, 1998
was 3.41%.
The fund's highest/lowest quarterly results during this time period were:
[X] HIGHEST 1.27% (quarter ended June 30, 1995)
[X] LOWEST 0.60% (quarter ended June 30, 1993)
4 MONEY MARKET FUNDS / PROSPECTUS
<PAGE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
TAX-EXEMPT MONEY FUND
[BAR CHART APPEARS HERE]
<TABLE>
<CAPTION>
<S> <C>
1990 5.40
1991 4.17
1992 2.51
1993 1.83
1994 2.23
1995 3.21
1996 2.85
1997 3.00
</TABLE>
The fund's year-to-date return for the nine months ending September 30, 1998
was 2.17%.
The fund's highest/lowest quarterly results during this time period were:
[X] HIGHEST 1.37% (quarter ended December 31, 1990)
[X] LOWEST 0.42% (quarter ended March 31, 1994)
MONEY MARKET FUNDS / PROSPECTUS 5
<PAGE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
For periods ended December 31, 1997:
<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 5.11% 4.75% 3.00%
...............................................................................
Five Years 4.34% 4.04% 2.62%
...............................................................................
Ten Years 5.45% n/a n/a
...............................................................................
Lifetime 7.58%/2/ 4.04%/3/ 3.20%/4/
...............................................................................
7-day Yield/1/: 5.36% 4.70% 3.20%
</TABLE>
(For current yield information, please call American FundsLine(R) at 1-800-325-
3590)
/1/ These fund results were calculated according to a required standard formula.
/2/ The fund began investment operations November 3, 1976.
/3/ The fund began investment operations February 1, 1991.
/4/ The fund began investment operations October 24, 1989.
These results illustrate the potential fluctuations in each fund's results
over shorter periods of time. Past results are not an indication of future
results.
6 MONEY MARKET FUNDS / PROSPECTUS
<PAGE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
FEES AND EXPENSES OF THE FUND
The following describes the fees and expenses that you may pay if you buy and
hold shares of the funds.
SHAREHOLDERS FEES
(fees paid directly from your investment)
<TABLE>
- --------------------------------------------------------------------------------
<S> <C>
Maximum sales charge imposed on purchases
(as a percentage of offering price) 0%
...............................................................................
Maximum sales charge imposed on reinvested dividends 0%
...............................................................................
Maximum deferred sales charge 0%
...............................................................................
Redemption or exchange fees 0%
</TABLE>
ANNUAL FUND OPERATING EXPENSES
(expenses that are deducted from fund assets)
<TABLE>
<CAPTION>
CASH MANAGEMENT U.S. TREASURY TAX-EXEMPT
TRUST MONEY FUND MONEY FUND
- --------------------------------------------------------------------------------
<S> <C> <C> <C>
Management Fees 0.29% 0.30% 0.44%/1/
................................................................................
Service (12b-1) Fees 0.08%/2/ 0.10%/2/ 0.05%/2/
................................................................................
Other Expenses 0.21% 0.19% 0.22%
................................................................................
Total Annual Fund Operating Expenses 0.58% 0.59% 0.71%
................................................................................
Fee Waiver -- -- 0.06%/1/
................................................................................
Net Expenses 0.58% 0.59% 0.65%
</TABLE>
/1/ The fund's Investment Advisory and Service Agreement provides for fee
reductions to the extent that annual operating expenses exceed 0.75% of the
fund's average net assets. With the waiver, fees (as a percentage of average
net assets) are 0.38% and total operating expenses are 0.65%. Under certain
circumstances, as described on 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.
MONEY MARKET FUNDS / PROSPECTUS 7
<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 costs would be:
<TABLE>
<CAPTION>
CASH MANAGEMENT U.S. TREASURY TAX-EXEMPT
TRUST MONEY FUND MONEY FUND*
- -------------------------------------------------------------------------------
<S> <C> <C> <C>
One year $ 59 $ 60 $ 73
...............................................................................
Three years $186 $189 $227
...............................................................................
Five years $324 $329 $395
...............................................................................
Ten years $726 $738 $883
</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 in-
come 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 fed-
eral 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 enhance-
ments 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 tax-
able 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, Capi-
tal Research and Management Company, to make decisions about each fund's port-
folio securities.
MONEY MARKET FUNDS / PROSPECTUS 9
<PAGE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
IMPORTANT RECENT DEVELOPMENTS
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 -- are taking steps to
address the issue. 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.
- --------------------------------------------------------------------------------
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 indicated
earlier under "Fees and Expenses of the Funds."
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.
10 MONEY MARKET FUNDS / PROSPECTUS
<PAGE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
SHAREHOLDER INFORMATION
SHAREHOLDER SERVICES
American Funds Service Company, each fund's 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 Com-
pany has four service centers across the country.
AMERICAN FUNDS SERVICE COMPANY SERVICE AREAS
[MAP OF AMERICAN FUNDS SERVICE COMPANY SERVICE AREAS]
<TABLE>
<S> <C> <C> <C>
WESTERN SERVICE WESTERN CENTRAL EASTERN CENTRAL EASTERN SERVICE
CENTER SERVICE CENTER SERVICE CENTER 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, Norfolk, Virginia
92822-2205 78265-9522 Indiana 23501-2280
Fax: 714/671-7080 Fax: 210/474-4050 46206-6007 Fax: 757/670-4773
Fax: 317/735-6620
</TABLE>
A COMPLETE DESCRIPTION OF THE SERVICES WE OFFER IS DESCRIBED IN EACH FUND'S
STATEMENT OF ADDITIONAL INFORMATION. In addition, an easy-to-read guide to own-
ing 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 Serv-
ice 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 in-
vestment dealers may not offer certain services. If you have any questions,
please contact your plan administrator/trustee or dealer.
MONEY MARKET FUNDS / PROSPECTUS 11
<PAGE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
PURCHASE AND EXCHANGE OF SHARES
PURCHASE
Generally, you may open an account by contacting any investment dealer autho-
rized to sell the fund's shares. You may purchase additional shares using vari-
ous 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 gen-
erally without a sales charge. Exchanges of shares from the money market funds
initially purchased without a sales charge generally will be subject to the ap-
propriate sales charge. Exchanges have the same tax consequences as ordinary
sales and purchases. See "Transactions by Telephone . . ." for information re-
garding 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 PE-
RIOD OF TIME, THE FUNDS AND AMERICAN FUNDS DISTRIBUTORS RESERVE THE RIGHT TO
REJECT ANY PURCHASE ORDER AND MAY TERMINATE THE EXCHANGE PRIVILEGE OF ANY IN-
VESTOR WHOSE PATTERN OF EXCHANGE ACTIVITY THEY HAVE DETERMINED INVOLVES ACTUAL
OR POTENTIAL HARM TO THE FUNDS.
INVESTMENT MINIMUMS
<TABLE>
- ---------------------------------------------------------------------------
<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, mar-
ket 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 secu-
rity.
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 ac-
cepts your request. The offering price is the net asset value plus a sales
charge, if applicable.
12 MONEY MARKET FUNDS / PROSPECTUS
<PAGE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
SALES CHARGE
The money market funds have no sales charges on purchases of fund shares. How-
ever, 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.
REDUCING YOUR SALES CHARGE
You and your immediate family may combine investments to reduce your sales
charge. You must let your investment dealer or American Funds Service Company
know if you qualify for a reduction in your sales charge using one or any com-
bination of the methods described in the statement of additional information
and "Welcome to the Family."
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 ex-
penses are approved in advance by each fund's board of directors. Up to 0.15%
of average net assets is paid annually to qualified dealers for providing cer-
tain services pursuant to each fund's Plan of Distribution. The 12b-1 fee, as a
percentage of average net assets, paid by each fund 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 on an ongoing basis, over time they
will increase the cost 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 spon-
sor informational meetings for, dealers as described in the statement of addi-
tional 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.
MONEY MARKET FUNDS / PROSPECTUS 13
<PAGE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
WRITING TO AMERICAN FUNDS SERVICE COMPANY
. Requests must be signed by the registered shareholder(s).
. A signature guarantee is required if the redemption is:
-- 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 corpo-
rate, 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 ac-
count(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 Amer-
ican 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.
14 MONEY MARKET FUNDS / PROSPECTUS
<PAGE>
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- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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. Divi-
dends 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 pur-
chase additional shares of this fund or any other fund in the American Funds
Group or you may elect to receive them in cash.
TAX CONSEQUENCES
Dividends and capital gains are generally taxable whether they are reinvested
or received in cash -- unless you are exempt from taxation or entitled to tax
deferral. 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 gener-
ally realizes or distributes capital gains; however, if they do, they will be
subject to federal and state income tax. Capital gains may be taxed at differ-
ent rates depending on the length of time the fund holds its assets.
You must provide the funds with a certified correct taxpayer identification
number (generally your Social Security Number) and certify that you are not
subject to backup withholding. If you fail to do so, the IRS can require the
funds to withhold 31% of your taxable distributions and redemptions. Federal
law also requires the fund to withhold 30% of the applicable tax treaty rate
from dividends paid to certain non-resident alien, non-U.S. partnership and
non-U.S. corporation shareholder accounts.
Please see the statement of additional information, "Welcome to the Family,"
and your tax adviser for further information.
MONEY MARKET FUNDS / PROSPECTUS 15
<PAGE>
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- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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 au-
dited by PricewaterhouseCoopers LLP, whose report, along with each fund's fi-
nancial statements, are included in the statement of additional information,
which is available upon request.
CASH MANAGEMENT TRUST
<TABLE>
<CAPTION>
YEAR ENDED SEPTEMBER 30
.......................
1998 1997 1996 1995 1994
--------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Net asset value,
beginning of period $1.00 $1.00 $1.00 $1.00 $1.00
- --------------------------------------------------------------------------------
INCOME FROM INVESTMENT
OPERATIONS
Net investment income .050 .049 .050 .052 .031
................................................................................
Total from investment operations .050 .049 .050 .052 .031
- --------------------------------------------------------------------------------
LESS DISTRIBUTIONS:
Dividends (from net
investment income) (.050) (.049) (.050) (.052) (.031)
................................................................................
Total distributions (.050) (.049) (.050) (.052) (.031)
- --------------------------------------------------------------------------------
Net asset value,
end of period $1.00 $1.00 $1.00 $1.00 $1.00
................................................................................
Total return 5.15% 5.03% 5.06% 5.34% 3.10%
- --------------------------------------------------------------------------------
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period
(in millions) $4,604 $3,527 $3,304 $2,996 $2,738
................................................................................
Ratio of expenses to
average net assets .58% .57% .60% .60% .68%
................................................................................
Ratio of net income
to average net assets 5.02% 4.93% 4.95% 5.21% 3.14%
</TABLE>
16 MONEY MARKET FUNDS / PROSPECTUS
<PAGE>
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- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
U.S. TREASURY MONEY FUND
<TABLE>
<CAPTION>
YEAR ENDED SEPTEMBER 30
.......................
1998 1997 1996 1995 1994
--------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Net asset value,
beginning of period $1.00 $1.00 $1.00 $1.00 $1.00
- --------------------------------------------------------------------------------
INCOME FROM INVESTMENT
OPERATIONS
Net investment income .045 .046 .046 .048 .028
................................................................................
Total from investment operations .045 .046 .046 .048 .028
- --------------------------------------------------------------------------------
LESS DISTRIBUTIONS:
Dividends (from net
investment income) (.045) (.046) (.046) (.048) (.028)
................................................................................
Total distributions (.045) (.046) (.046) (.048) (.028)
- --------------------------------------------------------------------------------
Net asset value,
end of period $1.00 $1.00 $1.00 $1.00 $1.00
................................................................................
Total return 4.63% 4.71% 4.66% 4.89% 2.89%
- --------------------------------------------------------------------------------
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period
(in millions) $356 $279 $256 $231 $199
................................................................................
Ratio of expenses to
average net assets .59% .53% .65% .67% .67%
................................................................................
Ratio of net income
to average net assets 4.49% 4.61% 4.53% 4.79% 2.91%
</TABLE>
MONEY MARKET FUNDS / PROSPECTUS 17
<PAGE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
TAX-EXEMPT MONEY FUND
<TABLE>
<CAPTION>
YEAR ENDED SEPTEMBER 30
.......................
1998 1997 1996 1995 1994
--------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Net asset value,
beginning of period $1.00 $1.00 $1.00 $1.00 $1.00
- --------------------------------------------------------------------------------
INCOME FROM INVESTMENT
OPERATIONS:
Net investment income .029 .029 .029 .031 .020
................................................................................
Total from
investment operations .029 .029 .029 .031 .020
- --------------------------------------------------------------------------------
LESS DISTRIBUTIONS:
Dividends (from net
investment income) (.029) (.029) (.029) (.031) (.020)
................................................................................
Total distributions (.029) (.029) (.029) (.031) (.020)
- --------------------------------------------------------------------------------
Net asset value,
end of period $1.00 $1.00 $1.00 $1.00 $1.00
................................................................................
Total return 2.97% 2.94% 2.91% 3.14% 1.98%
- --------------------------------------------------------------------------------
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (in millions) $198 $160 $144 $150 $170
................................................................................
Ratio of expenses to
average net assets--before fee waiver .71% .74% .77% .75% .73%
................................................................................
Ratio of expenses to
average net assets--after fee waiver .65% .65% .65% .65% .65%
................................................................................
Ratio of net income
to average net assets 2.94% 2.94% 2.88% 3.09% 1.99%
</TABLE>
18 MONEY MARKET FUNDS / PROSPECTUS
<PAGE>
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NOTES
MONEY MARKET FUNDS / PROSPECTUS 19
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NOTES
20 MONEY MARKET FUNDS / PROSPECTUS
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NOTES
MONEY MARKET FUNDS / PROSPECTUS 21
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<TABLE>
<CAPTION>
FOR SHAREHOLDER FOR RETIREMENT PLAN FOR DEALER
SERVICES SERVICES SERVICES
<S> <C> <C>
American Funds Call your employer or American Funds
Service Company plan administrator Distributors
800/421-0180 800/421-9900 ext. 11
</TABLE>
FOR 24-HOUR INFORMATION
<TABLE>
<S> <C>
American American Funds
FundsLine(R) Internet Web site
800/325-3590 http://www.americanfunds.com
</TABLE>
Telephone conversations may be recorded or monitored for
verification, recordkeeping and quality assurance purposes.
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MULTIPLE TRANSLATIONS
This prospectus may be translated into other languages. If
there are any inconsistencies or ambiguities, the English
text will prevail.
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OTHER FUND INFORMATION
ANNUAL/SEMI-ANNUAL REPORT TO SHAREHOLDERS
Contains additional information about the fund including
financial statements, investment results, portfolio
holdings, a statement from portfolio management discussing
market conditions and the fund's 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
fund, including the fund's financial statements.
A current SAI has been filed with the Securities and
Exchange Commission ("SEC") and is incorporated by
reference into this prospectus. The SAI and other related
materials about the fund are available for review or to be
copied at the SEC's Public Reference Room (1-800-SEC-0330)
or on the SEC's Internet Web site at http://www.sec.gov.
CODE OF ETHICS
Includes a description of the fund's personal investing
policy.
To request a free copy of any of the documents above:
Call American Funds or Write to the Secretary of the fund
Service Company 333 South Hope Street
800/421-0180 ext. 1 Los Angeles, California
90071
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)
[RECYCLE LOGO]
Printed on recycled paper
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THE CASH MANAGEMENT TRUST OF AMERICA
AND
THE U.S. TREASURY MONEY FUND OF AMERICA
AND
THE TAX-EXEMPT MONEY FUND OF AMERICA
