0000832545 2012-07-30 2013-07-29 0000832545 lt:S000025589Member 2012-07-30 2013-07-29 0000832545 lt:S000025589Member lt:C000076665Member 2012-07-30 2013-07-29 0000832545 lt:S000025589Member rr:AfterTaxesOnDistributionsMember lt:C000076665Member 2012-07-30 2013-07-29 0000832545 lt:S000025589Member rr:AfterTaxesOnDistributionsAndSalesMember lt:C000076665Member 2012-07-30 2013-07-29 0000832545 lt:S000025589Member lt:ComparativeIndexMember 2012-07-30 2013-07-29 pure iso4217:USD Other LAUDUS TRUST 0000832545 false 2013-07-29 2013-10-04 2013-10-04 Laudus U.S. Large Cap Growth Fund Investment objective The fund seeks long-term capital appreciation. Fund fees and expenses This table describes the fees and expenses you may pay if you buy and hold shares of the fund. Shareholder fees (fees paid directly from your investment) -0.02 Annual fund operating expenses (expenses that you pay each year as a % of the value of your investment) 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 time periods. The example also assumes that your investment has a 5% return each year and that the fund’s operating expenses remain the same. The one-year figure is based on total annual fund operating expenses after expense reduction. The expenses would be the same whether you stayed in the fund or sold your shares at the end of each period. Your actual costs may be higher or lower. Expenses on a $10,000 investment Portfolio turnover 0.0066 The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in the annual fund operating expenses or in the example, affect the fund’s performance. During the most recent fiscal year, the fund’s portfolio turnover rate was 76% of the average value of its portfolio. 0 Principal investment strategies 0.0016 Under normal circumstances, the fund invests at least 80% of its net assets (plus borrowings for investment purposes, if any) in equity securities of U.S. large capitalization companies. The fund defines large capitalization companies as those with a market capitalization of at least $3 billion at the time of investment. In addition, up to 20% of the fund’s net assets may be invested in foreign equity securities. Investments in equity securities include common stock and preferred stock. The fund may, but is not required to, use derivative instruments for risk management purposes or as part of the fund’s investment strategies. In selecting securities, the subadviser seeks to invest in companies that possess dominant market positions or franchises, a major technological edge, or a unique competitive advantage. To this end, the subadviser considers earnings revision trends, expected earnings growth rates, sales acceleration, price earnings multiples and positive stock price momentum, when selecting securities. The subadviser expects that these companies can sustain an above average return on invested capital at a higher level and over a longer period of time than is reflected in the current market prices. In deciding whether an investment is tied to the U.S., the subadviser considers a number of factors including whether the investment is issued or guaranteed by the U.S. government or any of its agencies; the investment has its primary trading market in the U.S.; the issuer is organized under the laws of, derives at least 50% of its revenues from, or has at least 50% of its assets in, the U.S.; the investment is included in an index representative of the U.S.; and the investment is exposed to the economic fortunes and risks of the U.S. For temporary defensive purposes during unusual economic or market conditions or for liquidity purposes, the fund may invest up to 100% of its assets in cash, money market instruments, repurchase agreements and other short-term obligations. When the fund engages in such activities, it may not achieve its investment objective. Principal risks 0.0082 The fund is subject to risks, any of which could cause an investor to lose money. The fund’s principal risks include: Market Risk. Stock markets rise and fall daily. As with any investment whose performance is tied to these markets, the value of your investment in the fund will fluctuate, which means that you could lose money. Management Risk. As with all actively managed funds, the strategies of the fund’s subadviser may not achieve their desired results. Poor stock selection or a focus on securities in a particular sector may cause the fund to underperform its benchmark or other funds with a similar investment objective. Equity Risk. The prices of equity securities rise and fall daily. These price movements may result from factors affecting individual companies, industries or the securities market as a whole. In addition, equity markets tend to move in cycles, which may cause stock prices to fall over short or extended periods of time. Large-Cap Risk. The fund will principally invest in large-cap segments of the U.S. stock market. Large-cap stocks tend to go in and out of favor based on market and economic conditions. During a period when large-cap U.S. stocks fall behind other types of investments — mid-or small-cap stocks, for instance — the fund’s large-cap holdings could reduce performance. Growth Investing Risk. Growth stocks can be volatile. Growth companies usually invest a high portion of earnings in their businesses and may lack the dividends of value stocks that can cushion stock prices in a falling market. The prices of growth stocks are based largely on projections of the issuer’s future earnings and revenues. If a company’s earnings or revenues fall short of expectations, its stock price may fall dramatically. Growth stocks may also be more expensive relative to their earnings or assets compared to value or other stocks. Foreign Investment Risk. The fund’s investments in securities of foreign issuers may involve certain risks that are greater than those associated with investments in securities of U.S. issuers. These include risks of adverse changes in foreign economic, political, regulatory and other conditions; changes in currency exchange rates or exchange control regulations (including limitations on currency movements and exchanges); differing accounting, auditing, financial reporting and legal standards and practices; differing securities market structures; and higher transaction costs. Derivatives Risk. The fund’s use of derivative instruments involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments and could cause the fund to lose more than the principal amount invested. In addition, investments in derivatives may involve leverage, which means a small percentage of assets invested in derivatives can have a disproportionately larger impact on the fund. Leverage Risk. Certain fund transactions, such as derivatives, may give rise to a form of leverage and may expose the fund to greater risk. Leverage tends to magnify the effect of any increase or decrease in the value of the fund’s portfolio securities. Liquidity Risk. A particular investment may be difficult to purchase or sell. The fund may be unable to sell illiquid securities at an advantageous time or price. Securities Lending Risk. Securities lending involves the risk of loss of rights in the collateral or delay in recovery of the collateral if the borrower fails to return the security loaned or becomes insolvent. Your investment in the fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. For more information on the risks of investing in the fund please see the “Fund details” section in the prospectus. Performance -0.0005 The bar chart below shows how the fund’s investment results have varied from year to year, and the following table shows how the fund’s average annual total returns for various periods compared to that of an index. This information provides some indication of the risks of investing in the fund. All figures assume distributions were reinvested. Keep in mind that future performance (both before and after taxes) may differ from past performance. For current performance information, please see www.laudus.com/prospectus. On July 13, 2009, the fund commenced operations as a member of Laudus Trust by acquiring all of the assets and liabilities of the UBS U.S. Large Cap Growth Fund (UBS Fund) in a tax-free reorganization. The fund has investment objectives, strategies, and policies substantially similar to those of the UBS Fund. The performance history of the fund prior to July 13, 2009 is that of the Class Y Shares of the UBS Fund. 0.0077 Annual total returns (%) as of 12/31 Best quarter: 19.21% Q1 2012 Worst quarter: (22.54%) Q4 2008 Year-to-date performance (non-annualized and before taxes) as of 6/30/2013: 9.71% Average annual total returns (%) as of 12/31/12 The after-tax figures reflect the highest individual federal income tax rates in effect during the period and do not reflect the impact of state and local taxes. Your actual after-tax returns depend on your individual tax situation. In addition, after-tax returns are not relevant if you hold your fund shares through a tax-deferred arrangement, such as a 401(k) plan, IRA or other tax-advantaged account. 0.76 The fund is subject to risks, any of which could cause an investor to lose money. Your investment in the fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The bar chart below shows how the fund’s investment results have varied from year to year, and the following table shows how the fund’s average annual total returns for various periods compared to that of an index. This information provides some indication of the risks of investing in the fund. All figures assume distributions were reinvested. Keep in mind that future performance (both before and after taxes) may differ from past performance. The after-tax figures reflect the highest individual federal income tax rates in effect during the period and do not reflect the impact of state and local taxes. Your actual after-tax returns depend on your individual tax situation. In addition, after-tax returns are not relevant if you hold your fund shares through a tax-deferred arrangement, such as a 401(k) plan, IRA or other tax-advantaged account. 0.2971 79 252 0.1198 0.1436 445 0.055 1006 0.1825 -0.3774 0.4958 0.1446 0.0119 0.1816 0.1816 0.1774 0.1216 0.1526 0.0497 0.0479 0.0423 0.0312 Year-to-date performance (non-annualized and before taxes) 2013-06-30 0.0971 0.102 0.1008 0.0909 0.0752 Best quarter: 2012-03-31 0.1921 Worst quarter: 2008-12-31 -0.2254 79 252 445 1006 <div style="display:none">~ http://www.laudus.com/role/ScheduleShareholderFeesLaudusGrowthInvestorsU.S.LargeCapGrowthFund column period compact * ~</div> <div style="display:none">~ http://www.laudus.com/role/ScheduleAnnualFundOperatingExpensesLaudusGrowthInvestorsU.S.LargeCapGrowthFund column period compact * ~</div> <div style="display:none">~ http://www.laudus.com/role/ScheduleExpenseExampleTransposedLaudusGrowthInvestorsU.S.LargeCapGrowthFund column period compact * ~</div> <div style="display:none">~ http://www.laudus.com/role/ScheduleExpenseExampleNoRedemptionTransposedLaudusGrowthInvestorsU.S.LargeCapGrowthFund column period compact * ~</div> <div style="display:none">~ http://www.laudus.com/role/ScheduleAverageAnnualTotalReturnsTransposedLaudusGrowthInvestorsU.S.LargeCapGrowthFund column period compact * ~</div> <div style="display:none">~ http://www.laudus.com/role/ScheduleAnnualTotalReturnsLaudusGrowthInvestorsU.S.LargeCapGrowthFundBarChart column period compact * ~</div> July 30, 2015 www.laudus.com/prospectus 2013-03-31 The investment adviser has contractually agreed to limit total annual fund operating expenses (exclusive of interest, taxes and certain non-routine expenses) of the fund to 0.77% until at least July 30, 2015. During this term, the agreement may only be amended or terminated with the approval of the fund's Board of Trustees. Any amounts waived or reimbursed in a particular fiscal year will be subject to reimbursement by the fund to the investment adviser during the next two fiscal years to the extent that the repayment will not cause the fund's total annual fund operating expenses to exceed the limit (as stated in the agreement) during the respective year. The investment adviser may, but is not required to, extend the agreement for additional years.