Commonwealth Funds: Shareholder Reports

Australia/New Zealand Fund

• Seeks to provide long-term capital appreciation
• Seeks to provide current income
• Investing primarily in equity and debt securities of Australian and New Zealand issuers.

Africa Fund

• Seeks to provide long-term capital appreciation
• Seeks to provide current income
• The fund invests in various African countries' financial markets and economies.

Global Fund

• Seeks to provide long-term capital appreciation
• Seeks to provide current income
• Investing primarily in US & foreign equity securities, without regard to market capitalization, including common & preferred stock, securities convertible into common stock, & debt securities.

Japan Fund

• Seeks to provide long-term capital appreciation
• Seeks to provide current income
• Investing primarily in equity and debt securities of Japanese issuers.

Real Estate Securities Fund

• Seeks to provide long-term capital appreciation
• Seeks to provide current income
• Investing primarily in equity securities without regard to capitalization, common and preferred stock, securities convertible into common stock, and debt instruments.