In 1982, UMB Bank was one of the first banks in the nation to offer a family of no-load mutual funds. The initial fund family consisted of one equity fund (UMB Scout Stock Fund), one fixed income fund (UMB Scout Bond Fund), and a money market fund with a federal and a prime portfolio (UMB Scout Money Market Fund).
UMB expanded its mutual fund family by adding a regionally focused mutual fund in 1986 (UMB Scout Regional, now known as the UMB Scout Small Cap Fund) and an international fund (UMB Scout International Fund) in 1993. The group has grown to include 8 funds and $5.5 billion in assets (as of June 30, 2007). In 2001, UMB Bank created a wholly owned subsidiary called Scout Investment Advisors to manage the Fund family.
Not only was UMB Bank early to market among its peers in offering a family of no-load funds, but it has also employed what it considers to be a very unique, cutting-edge approach for research and screening.
"From very early on UMB called upon the expertise of an internal core of "buy side" analysts," said William Greiner, Chief Investment Officer for the bank and Scout Investment Advisors. "Our analysts don't sell, so they stick strictly to research and aren't faced with the conflicts of opinion that have at times nagged at some in the industry. This approach has been carried on by Scout Investment Advisors."
Another unique approach to money management that Scout Investment Advisors has used for several years is constant synergy between its equity analysts and fixed-income analysts. The analysts' daily collaboration and sharing of information gives them the benefit of a broader understanding of a wide variety of companies, industry sectors, bonds and equities.
Using this combination of careful screening, integration of equity and fixed-income analysis, and a judicious commitment to quality, Scout Investment Advisors sought to minimize the volatility of recent markets for the Scout Funds' investors. Scout Investment Advisors believes that its prudent strategy and team-oriented approach to investing is the very reason that several of its Funds have been recognized by industry benchmark Lipper Analytical Services, and our Funds and Fund Managers have been mentioned in leading national publications on several occasions.
UMB Bank and Scout Investment Advisors are very proud of their Fund family's growth over the past 20 years and are always seeking new opportunities to continue to improve the quality and forward-looking strategy of the UMB Scout Funds.
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