Laudus Growth Investors U.S. Large Cap Growth Fund

Leverage the experience of a global leader in asset management

Experienced asset management. The Growth Investors management team, with an average of more than 20 years of investment industry experience per team member, has guided the fund since 2002.

Long-term performance. Relative to its benchmark, the fund has demonstrated strong historical returns.

Competitive expenses. There are no load or transaction fees, and the fund’s operating expense ratio is significantly below the Morningstar Category Average.

An investment strategy that’s focused on sustainable growth

As of 09/30/2009

Cumulative

Average Annual (%)

Year to Date

1-Yr

3-Yr

5-Yr

10-Yr

Since Inception

Laudus Growth Investors U.S. Large Cap Growth Fund (LGILX)

33.61%

3.50%

1.63%

5.35%

-0.27%

2.32%

Trade

Russell® 1000 Growth Index

27.11%

-1.85%

-2.50%

1.86%

-2.56%

1.01%

The performance quoted represents past performance, does not guarantee future results and current performance may be lower or higher than the data quoted. The investment return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. The returns assume reinvestment of dividends and distributions, if any. Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Performance data current to the most recent month end may be obtained at www.schwab.com/laudusfunds or 1-877-352-8387.

Minimum Investment

Gross Expense Ratio

Net Expense Ratio

Fund¹

Morningstar Large Cap Growth Category Average

Laudus Growth Investors U.S. Large Cap Growth Fund (LGILX)

$100

0.96%

0.78%

1.38%

Trade

1. Net Expenses: Reflects expenses to be charged to shareholders through at least 7/13/2011. Adviser expects to hold expenses at this level by waiving its management fee and/or bearing other expenses. Please see the prospectus for more information.

Investors should consider carefully information contained in the prospectus, including investment objectives, risks, charges and expenses. You can view, download and print a prospectus by clicking on Prospectuses & Reports. Please read the prospectus carefully before investing.Investment value will fluctuate, and shares, when redeemed, may be worth more or less than original cost.

Morningstar proprietary ratings reflect historical risk-adjusted performance as of 09/30/2009. The Laudus Growth Investors U.S. Large Cap Growth Fund was ranked 4 stars overall in the Large-Cap Growth category as of 09/30/2009. It was rated 5 stars out of 1565 funds for the three-year period ending 09/30/2009. It was rated 5 stars out of 1251 funds for the five-year period ending 09/30/2009. It was rated 3 stars out of 663 funds for the 10 year period ending 09/30/2009. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The top 10% of the funds in an investment category receive 5 stars, 22.5% receive 4 stars, 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star.

The Russell 1000 Growth Index measures the performance of those Russell 1000 companies with higher price-to-book ratios and higher forecasted growth values. You cannot invest directly in an index.

Trades in no-load mutual funds available through Mutual Funds OneSource service (including SchwabFunds) as well as certain other funds, are available without transaction fees when placed through schwab.com or our automated phone channels. For each of these trade orders placed through a broker, a $25 service charge applies. Schwab reserves the right to change the funds we make available without transaction fees and to reinstate fees on any funds. Funds are also subject to management fees and expenses.

The Laudus Group® of Funds includes the Laudus Rosenberg, Laudus Mondrian, and Laudus Growth Investors Funds, which are part of the Laudus Trust and Laudus Institutional Trust and distributed by ALPS Distributors, Inc.; and the Laudus MarketMasters Funds®, which are part of the Schwab Capital Trust and distributed by Charles Schwab & Co., Inc. Charles Schwab & Co., Inc. and ALPS Distributors, Inc. are unaffiliated entities.

(LAU001964)