(PUB) Morningstar FundInvestor
April 2 014
Morningstar FundInvestor
5
Data through March 31, 2014 Laudus US Large Cap Growth
Ticker
Status Yield Total Assets
Mstar Category
LGILX Open
0.0% $2,165 mil
Large Growth
Morningstar Analyst Rating 03-31-14
Investment Style Equity Stock %
Historical Profile Return Risk Rating High Above Avg Highest
99% 97% 97% 98% 99% 97% 98% 98%
´
Manager Change Partial Manager Change
15.0 20.0 26.0 33.0
Morningstar Pillars Process Performance
Growth of $10,000
¶ ∞ ∞ ∞ ∞
Positive Positive Positive Neutral Positive
Investment Values of Fund Investment Values of S&P 500
People Parent Price
10.0
Performance Quartile (within Category) History
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 03-14
Morningstar Analyst Rating Morningstar evaluates mutual funds based on five key pillars, which its analysts believe lead to funds that are more likely to outperform over the long term on a risk-adjusted basis. Analyst Rating Spectrum Œ „ ´ˇ ¨
7.51
8.41
9.61
10.12
11.87
7.39
11.00 49.58 23.12 12.37
12.58 14.46 -0.60 -2.25
12.44 1.19 -0.92 -1.45 0.00 1.19
14.42 18.16
18.57 37.67
18.19 -2.03 -3.84 -3.15 0.00 -2.03
NAV
29.71 1.03 -0.04 0.00 29.71
11.98
14.36
5.50
-37.74 18.25
Total Return %
1.10 5.68 0.00
-10.29 9.45
12.76
-0.74 0.70 0.00
2.16 2.90 0.13
5.28 4.19 0.00
+/-S&P 500
9.10 0.09
-3.57 0.19 5.31 0.02 0.00 0.80 0.09 137 66
6.44 0.13
+/-Russ 1000Gr Income Return % Capital Return %
0.56
0.10
11.98
14.27
-37.74 18.12
49.02
14.36
18.03
37.67
34
15
7
24
27
8
57
21
20
17
96
Total Rtn % Rank Cat
Pillar Spectrum Positive ∞
0.00 0.00 0.80 0.29
0.00 0.00 0.80 -0.07
0.01 0.00 0.80 0.29 145
0.01 0.08 0.80 0.35 112
0.00 0.00 0.80 0.05 102
0.04 0.00 0.80 0.41 132 167
0.01 0.00 0.78 0.12
0.00 0.28 0.78 0.06
0.02 0.26 0.78 -0.17
0.00 1.22 0.78 0.13
0.00 0.00
Income $
§ Negative
¶ Neutral
Capital Gains $ Expense Ratio % Income Ratio % Turnover Rate % Net Assets $mil
. . .
Performance 03-31-14 1st Qtr 2nd Qtr
3rd Qtr
4th Qtr
Total
87
102
72
98
96
76
2009 2010 2011 2012 2013
0.14 17.30 13.76 11.95 49.58 2.09 -12.02 14.27 11.52 14.46 6.20 1.95 -14.02 8.70 1.19 19.21 -6.81 7.24 -0.82 18.16 8.04 1.54 11.69 12.35 37.67
3
4
5
6
66
56
393
667
1,471
1,994
2,165
Portfolio Analysis 12-31-13 Share change since 09-13 Total Stocks:60 Sector
Rating and Risk Time Load-Adj
PE Tot Ret% % Assets
Morningstar
Morningstar Risk vs Cat
Morningstar Risk-Adj Rating
Period Return % Rtn vs Cat
Google, Inc. Class A SOFTBANK Corp Visa, Inc. Class A priceline.com Incorporat Precision Castparts Corp Comcast Corp Class A
Technology 31.0 -0.55 4.78 Comm Svs 29.9 -13.99 3.72 Finan Svs 28.7 1.64 3.42 Cnsmr Cyc 33.0 2.54 3.28
1 Yr 3 Yr 5 Yr
24.83 14.94 22.49 10.30
Trailing
Total
+/-
+/- Russ %Rank Growth of
Return% S&P 500 1000Gr
Cat
$10,000
+Avg +Avg High
+Avg +Avg
3 Mo 6 Mo 1 Yr
-2.03 -3.84 10.06 -2.45 24.83 2.97 14.94 0.28 22.49 1.33 10.30 2.88 4.90 0.44
-3.15 -1.61 1.61 0.32 0.81 2.44 1.92
96 9,797 66 11,006 33 12,483 17 15,185 16 27,574 4 26,654 38 20,494
10 Yr Incept
Avg
Industrl
22.3 -4.24 3.12
6.26
Comm Svs 20.2 -0.53 3.01
3 Yr Avg 5 Yr Avg 10 Yr Avg 15 Yr Avg
Amazon.com Inc
Cnsmr Cyc
-15.65 2.97
.
Other Measures
Standard Index
Best Fit Index S&P 500 M* U.S. Grwth TR
Eaton Corporation PLC
Industrl
19.1 -1.85 2.59
Autodesk, Inc. Yahoo! Inc
Technology 48.3 4.29 2.48 Technology 33.1 -4.38 2.47 Hlth care 45.7 10.24 2.40 Cnsmr Cyc 17.8 -3.26 2.34 Finan Svs 29.1 -10.46 2.34 Comm Svs . -2.75 2.38
Alpha
-1.1 1.12
-0.5 1.09
Beta
Gilead Sciences Inc Liberty Global PLC Class
R-Squared
82
96
Tax Analysis Tax-Adj Rtn% %Rank Cat Tax-Cost Rat %Rank Cat 3 Yr (estimated) 5 Yr (estimated) 10 Yr (estimated) 13.88 20 0.92 68 21.76 16 0.59 69 9.94 4 0.32 43 Potential Capital Gain Exposure: 15% of assets Morningstar’s Take by Dan Culloton 03-31-14 Laudus US Large Cap Growth is looking like itself again. Charles Schwab Investment Management, this fund’s advisor, made a big change in 2013 to stop a string of manager changes. It replaced longtime subadvisor, UBS Global Asset Management, with BlackRock Investment Management. It was less of a replacement than a reunion--the BlackRock crew’s lead manager is Lawrence Kemp, who ran this fund for more than 10 years before leaving UBS for BlackRock in November 2012. Kemp’s seven-member BlackRock squad (including him), which runs BlackRock Capital Appreciation MDFGX, includes at least three UBS expatriates who worked with Kemp during his first tour here. This fund’s Morningstar Analyst Rating dropped to Neutral when Kemp left, but it’s back to Bronze now that Kemp has returned with a rebuilt team of investors who know his process. Kemp and his current team, which officially took over on Oct. 4, 2013, are using the same approach this fund has followed for more than 10 years. Kemp still
Standard Deviation
15.52 14.94
Time Warner Inc
MasterCard Incorporated
Mean
Union Pacific Corp Walt Disney Co
Industrl
19.9 12.24 2.34
Sharpe Ratio
0.97
Cnsmr Cyc 22.2 5.77 2.23
United Technologies Corp Valeant Pharmaceuticals United Therapeutics Corp
Industrl Hlth care
18.8 3.35 2.17
12.29 2.17
.
Hlth care 31.0 -10.31 2.15 Cnsmr Cyc 26.7 -0.13 2.13
attempts to craft a compact portfolio of 40-60 stocks that fall into three broad buckets: superior, durable, and periodic growth companies. Most of the fund’s assets usually will be in the superior and durable growers, and it will keep a smaller, more opportunistic stake in the cyclical firms. Diversifying across types of growth stocks and being unafraid to trim winners, even as they continue to run--as this fund did as stocks rallied in 2013--may keep a lid on the fund’s volatility, at least relative to its peers and benchmark. This is still a compact, unabashed growth fund. It’s willing to own highly valued stocks, such as Amazon AMZN, Facebook FB, Autodesk ADSK, and Starbucks SBUX. It attempts to buy such stocks when they are down and mixes in more undervalued stocks like Eastman Chemical EMN, but this is not a tame portfolio; it has hefty helpings of tech and consumer discretionary stocks, for instance. At least an accomplished management team that’s familiar and has delivered good risk-adjusted returns with the strategy in the past is at the helm.
Nike, Inc. Class B
Current Investment Style
Sector Weightings
% of Stocks
Rel S&P 500 High
3 Year Low
Market Cap % Giant 39.2 Large 42.1 Mid 18.7 Small 0.0 Micro 0.0 Avg $mil: 40,410
Value Blnd Growth
Large Mid Small
Cyclical 33.54 1.17 BasicMat 1.91 0.62 7 2 CnsmrCyc23.81 2.78 22 18 FinanSvs 7.82 0.50 10 4 Real Est 0.00 0.00 1 0 Sensitive 51.12 1.17 CommSrvs10.47 2.61 4 2 Energy 3.55 0.33 8 5 Industrl 15.11 1.33 13 7 Technlgy 21.99 1.25 38 25 Defensive15.35 0.56 CnsmrDef 2.17 0.18 10 4 Hlthcare 13.18 1.12 15 6 Utilities 0.00 0.00 0 0
h r t y u j i o p a k s d f
Value Measures Price/Earnings Price/Book Price/Sales Price/Cash Flow Dividend Yield % Long-Term Erngs Book Value Sales Cash Flow Historical Erngs Growth Measures
Rel Category
24.82 3.98 3.51 16.17 0.59 16.00 11.58 9.30 13.30 21.06
1.39 1.39 1.94 1.62 0.45 1.19 1.12 1.16 1.03 0.95
% Rel Category
Composition - Net
Cash 0.0 Stocks 99.6 Bonds 0.0 Other 0.4 Foreign 18.2
Address:
211 MAIN STREET SAN FRANCISCO, CA 94105 800-447-3332
Minimum Purchase: Min Auto Inv Plan:
$100 $100
Add: $0 IRA: $0
Add: $50
Profitability
% Rel Category
Sales Fees:
No-load, 2.00%R
Return on Equity Return on Assets Net Margin
18.53 8.59 13.70
0.89 0.88 0.97
Web Address: Inception: Advisor: Subadvisor: NTF Plans:
www.laudus.com
Management Fee:
0.70% mx./0.55% mn., 0.00%A Mgt:0.66% Dist: .
(% of Stock)
10-14-97
Actual Fees:
Charles Schwab Investment Management Inc BlackRock Investment Management, LLC
Expense Projections: Income Distribution:
3Yr:$252
5Yr:$445 10Yr:$1006
Semi-Annually
Federated Tr NTF
Mutual Funds ß ®
© 2014Morningstar, Inc.All rights reserved. The information herein isnot representedorwarranted tobe accurate, correct, completeor timely.Pastperformance isnoguaranteeof future results.Accessupdated reports at To order reprints, call 312-696-6100. mfb.morningstar.com.
EQ
Made with FlippingBook