- Overall Morningstar Rating^TM - (based on risk-adjusted performance as of June 30, 2008)

UMB Scout International Fund
Rated against 558 Foreign Large Blend Funds

UMB Scout Small Cap Fund
Rated against 705 Small Growth Funds

UMB Scout Stock Fund
Rated against 1715 Large Blend Funds

UMB Scout Bond Fund
Rated against 990 Intermediate-term Bond Funds

The Overall Morningstar Rating^TM for a fund is derived from the weighted-average of the performance figures associated with its three-, five-, and ten-year (if applicable) Morningstar Rating metrics.

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating^TM based on a Morningstar Risk-Adjusted Return measure that accounts for variations 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. The top 10% of the funds in a broad asset class receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (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 UMB Scout International Fund received the following star ratings among U.S. domiciled Foreign Large Blend funds for the following time periods: 4 stars (among 558 funds) for the three-year, 4 stars (among 449 funds) for the five-year and 5 stars (among 238 funds) for the ten-year time periods. The UMB Scout Small Cap Fund received the following star ratings among U.S. domiciled Small Growth funds for the following time periods: 4 stars (among 705 funds) for the three-year, 5 stars (among 571 funds) for the five-year and 5 stars (among 273 funds) for the ten-year time periods. The UMB Scout Stock Fund received the following star ratings among U.S. domiciled Large Blend funds for the following time periods: 5 stars (among 1715 funds) for the three-year, 4 stars (among 1325 funds) for the five-year and 4 stars (among 660 funds) for the ten-year time periods. The UMB Scout Bond Fund received the following star ratings among U.S. domiciled Intermediate-Term Bond funds for the following time periods: 3 stars (among 990 funds) for the three-year, 2 stars (among 831 funds) for the five-year and 3 stars (among 438 funds) for the ten-year time periods.

Average Annual Returns as of June 30, 2008:
UMB Scout International Fund:
1-Year: -1.71%, 5-Years: 17.97%, 10-Years: 8.63%
Gross Expense Ratio: 0.97% (as of 06/30/07)

UMB Scout Small Cap Fund:
1-Year: -7.90%, 5-Years: 12.96%, 10-Years: 9.17%
Gross Expense Ratio: 1.03% (as of 06/30/07)

UMB Scout Stock Fund:
1-Year: -3.14%, 5-Years 8.23%, 10-Years: 3.39%
Gross Expense Ratio: 0.88% (as of 06/30/07)

UMB Scout Bond Fund:
1-Year: 6.02%, 5-Years: 2.62%, 10-Years: 4.68%
Gross Expense Ratio: 0.70% (as of 07/01/08)

The performance data quoted represents past performance and past performance is not a guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance information quoted. To obtain performance information current to the most recent month-end, please call 1-800-996-2862.

Foreign investments present additional risk due to currency fluctuations, economic and political factors, government regulations, differences in accounting standards and other factors. Investments in emerging markets involve even greater risks.

Due to the limited focus of this fund, the UMB Scout Small Cap Fund is more susceptible to market volatility because smaller companies may not have the management experience, financial resources, product diversification and competitive strengths of larger companies. Additionally, smaller company stocks tend to be sold less often and in smaller amounts than larger company stocks.

Prior to July 2, 2001, the UMB Scout Small Cap Fund was known as the UMB Scout Regional Fund and was managed in accordance with a different investment objective and strategy.

Prior to April 1, 2005, the UMB Scout Stock Fund was managed in accordance with a different investment strategy.

A redemption fee of 2% will be imposed on redemptions or exchanges made within two months of purchase of shares in the UMB Scout International Fund, the UMB Scout Mid Cap Fund and UMB Scout Small Cap Fund. Certain types of accounts are exempt from this fee. Please see the prospectus for more information.

© 2008 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

The UMB Scout Funds are distributed by UMB Distribution Services, LLC, an affiliate of UMB Financial Corporation, and managed by Scout Investment Advisors, Inc., a subsidiary of UMB Bank, n.a.

"UMB," "Scout" and the Scout design are registered service marks of UMB Financial Corporation.

NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE