SCOUT
WORLDWIDE
FUND
A no-load mutual fund
that seeks a favorable
total return by investing
in established companies
either located outside the
U.S. or whose principal
business is carried on
outside the country.
Annual Report
June 30, 1998
TO THE SHAREHOLDERS
Scout WorldWide Fund rose to $18.62 per share from $18.27, providing a
total return (price change and reinvested distributions) of 3.03% for
the quarter ended June 30, 1998. The Fund seeks a favorable return by
investing in a diversified portfolio of equity securities of established
companies either located outside the U.S. or whose primary business is
done outside the country. The Fund is designed for long-term investors
who are able to accept the risks of international investing.
A year ago, Hong Kong was being reunited with China with great fanfare
and the economies of Southeast Asia were booming. Then Thailand's
currency and stock markets crashed, starting a market and economic
collapse that spread throughout the region. Fortunately, your Fund was
not exposed to the direct stock market losses because we previously had
sold our only holding in the area, China Light and Power.
Our holdings in other markets were affected, however, as the Asia
slowdown hurt Australia and Japan in particular, as well as many
companies whose prices fell as demand from the region slowed. Japan does
about three times as much trade with southeast Asia as it does with the
U.S. The slowdown has hurt Japanese exports and created loan problems
for many Japanese banks lending in the area.
Japan previously had worked hard to boost its markets and maintain the
solvency of its banks. But the government wavered on its promise of tax
cuts to stimulate the economy, and international investors drove down
the value of the Japanese markets and the yen.
Both recently have recovered somewhat on the election results that cost
the ruling Liberal Democratic Party (LDP) control of the upper house of
the Japanese legislature and forced the resignation of Prime Minister
Hashimoto. The LDP still controls the lower house, which chooses the
prime minister and his cabinet. The market perception, nevertheless, is
that the election raises the potential for meaningful economic change in
Japan.
The Fund has 70% of its portfolio in Western Europe and this portion
continues to do very well. These economies have started to improve and
there is hope the common currency, the Euro, will provide further
benefits to growth.
It still will be important to watch several key factors in the region in
coming months. Elections are scheduled in Germany this fall, and could
mean the end of Chancellor Helmut Kohl's long leadership in that
country. The U.K. economy may face a recession after a period in which
it has been stronger than the Continental European economies. But it
appears growth may be slowing and inflation rising, which would mean
higher interest rates in the U.K. This combination of events has
historically been bad for the stock market.
Finally, European stock markets in general have been rising strongly and
are showing signs of becoming as overpriced as the U.S. markets, which
is why the Fund's cash levels are higher than usual.
For the six months ended June 30, 1998, shareholders received an
ordinary income dividend of $.20 per share; there were no capital gains
distributed for this period.
For corporate shareholders, 0.32% of ordinary income distributions
qualify for the corporate dividends received deduction.
Investing in the equity and fixed income markets of countries other than
the United States involves certain risks including but not limited to
economic and/or political instability, currency fluctuations, and
differences in accounting standards.
We appreciate your interest and participation in Scout WorldWide Fund,
and welcome your questions and comments.
Sincerely,
/s/James L. Moffett
James L. Moffett
UMB Investment Advisors
CHART - Hypothetical Growth of $10,000
as of June 30, 1998
SCOUT WORLDWIDE FUND vs MSCI EAFE-US Dollars*
SOURCE: UMB Investment Advisors
*Unmanged index of stocks, bonds or mutual funds (there are no direct
investments or fees in these indices).
For illustrative purposes only; may not represent your returns.
CHART - COMPARATIVE RATES OF RETURN
as of June 30, 1998
2 1/2 Years 3 1/2 Years 4 1/2 Years
Scout WorldWide Fund 22.05% 19.89% 16.12%
Scout WorldWide
Fund Equities 27.22% 24.52% 19.51%
Lipper Global Fund Index* 15.03% 13.36% 10.02%
MSCI EAFE Index* 9.65% 10.09% 9.59%
Scout WorldWide Fund's average annual compound returns for 1 year,
3 years and the life of the fund for periods ended June 30, 1998, are
20.2%, 20.4% and 16.4%, respectively. Inception - September 14, 1993.
Performance data contained in this report are for past periods
only. Past performance is not predictive of future performance.
Investment return and share value will fluctuate, and redemption value
may be more or less than the original cost. Along with the potential for
higher returns, international investments carry some additional risks
from currency fluctuations, economic and political factors, as well as
differences in accounting.
*Unmanaged index of stocks, bonds or mutual funds (there are no direct
investments or fees in these indices).
CHART - Country Diversification
CHART - Top 10 Equity Holdings
Market Percent
Value (000's) of Total
SAP A.G. $2,511 2.96%
Aegon N.V. 2,076 2.45%
Nokia, CP ADS, Pfd. 1,974 2.33%
Vodafone Group 1,639 1.93%
Rhone-Poulenc SA 1,596 1.88%
Takeda Chemical Inds. 1,595 1.88%
Portugal Telecom S.A. 1,593 1.88%
Ericsson (L.M.) Telephone Co. Cl. B 1,489 1.76%
Elan Corp. PLC 1,479 1.75%
Telecom Italia S.p.A. 1,470 1.73%
Top 10 Equity Holdings Total: $17,422 20.55%
NOTE: All market values based on June 30, 1998, statement of assets.
CHART - HISTORICAL RECORD
INCOME & CUMULATIVE**
NET SHORT-TERM LONG-TERM VALUE PER
ASSET GAINS GAINS SHARE PLUS
VALUE DISTRIBUTION DISTRIBUTION DISTRIBUTIONS
12/31/93 $10.68 $0.03 $ - $10.71
12/31/94 10.84 0.24 0.00 11.11
12/31/95 12.08 0.30 0.04 12.69
12/31/96 13.94 0.24 0.10 14.89
12/31/97 16.02 0.31 0.16 17.44
6/30/98* 18.62 0.20 - 20.24
*Six-month only. Distributions typically occur in June
and December.
**Does not assume any compounding of reinvested distributions.
Table shows calendar year distributions and net asset
values; may differ from fiscal year annual reports.
Shares of the Scout Funds are not deposits or obligations of, nor
guaranteed by, UMB Bank, n.a. or any other banking institution; nor are
they insured by the Federal Deposit Insurance Corporation ("FDIC").
These shares involve investment risks, including the possible loss of
the principal invested.
FINANCIAL STATEMENTS
Statement of Net Assets
June 30, 1998
Market
Shares Company Value
COMMON STOCKS (ADRs) - 80.15%
ARGENTINA - 0.72%
20,000 YPF Sociedad Anonima $ 601,250
AUSTRALIA - 3.32%
55,000 Amcor Limited. 948,750
56,580 Broken Hill Proprietary Co. Ltd. 958,324
20,000 Coca-Cola Amatil Ltd. 259,662
19,380 Coles Myer Ltd. 597,146
2,763,882
AUSTRIA - 1.56%
9,700 OMV A.G.^1 1,299,290
BELGIUM - 0.24%
2,500 Solvay NPV^1 198,199
BRAZIL - 1.99%
44,000 Aracruz Celulose SA 503,250
10,540 Telecomunicacoes Brasileiras 1,150,836
1,654,086
CANADA - 3.53%
20,000 BCE Inc.^1 853,750
28,500 Canadian Pacific Ltd.^1 808,688
45,000 Imperial Oil Ltd. 784,687
7,200 Magna International Cl. A^1 494,100
2,941,225
CHILE - 1.43%
52,500 Embotelladora Andina SA De Chile 918,750
8,000 Sociedad Quimica Minera De Chile 268,000
1,186,750
DENMARK - 1.47%
17,800 Novo-Nordisk A.S. 1,224,862
FINLAND - 2.37%
27,200 Nokia, CP ADS, Pfd. 1,973,700
FRANCE - 6.29%
29,458 Alcatel Alsthom 1,198,572
1,090 Carrefour Supermarche, SA^1 689,585
28,400 Rhone-Poulenc SA 1,595,725
12,200 Schlumberger Ltd. 833,413
14,035 Total SA 917,538
5,234,833
GERMANY - 10.67%
8,000 Adidas Solomon^1 1,382,798
13,200 Daimler Benz A. G. 1,284,525
24,700 Dresdner Bank A.G. 1,334,185
27,000 Fresenius Medical Care ADR 556,875
8,500 Henkel KGAA, Pfd.^1 845,274
4,140 SAP A.G.^1 2,511,476
15,800 Siemens A.G. 964,174
8,879,307
IRELAND - 1.78%
23,000 Elan Corp. PLC* 1,479,188
ITALY - 5.56%
24,960 Benetton Group S.p.A. 1,038,960
25,000 Fila Holding S.p.A. 375,000
86,000 Luxottica Group S.p.A. 1,333,000
200,000 Parmalat Finanziaria S.p.A.^1 407,860
20,000 Telecom Italia S.p.A. 1,470,000
4,624,820
JAPAN - 8.00%
28,500 Canon, Inc. 651,937
40,000 Fuji Photo Film Ltd. 1,382,500
13,900 Hitachi, Ltd. 896,550
12,400 Ito Yokado, Ltd. 589,000
11,000 Sony Corp. 946,688
60,000 Takeda Chemical Inds. 1,595,268
11,500 Toyota Motor Corp. 596,562
6,658,505
NETHERLANDS - 4.63%
24,000 Aegon N.V. 2,076,000
2,700 Akzo N.V. 299,363
17,708 Koninklijke Ahold N.V. 566,663
18,000 Polygram N.V. 915,750
3,857,776
NORWAY - 0.98%
18,555 Norsk Hydro A.S. 818,739
PORTUGAL - 1.91%
30,100 Portual Telecom S.A. 1,593,419
SPAIN - 2.56%
21,000 Repsol S.A. 1,155,000
7,000 Telefonica De Espana S. A. 973,437
2,128,437
SWEDEN - 4.73%
39,750 Aktiebolaget Electrolux 1,346,531
52,000 Ericsson (L.M.) Telephone Co. Cl. B 1,488,500
42,500 Svenska Cellulosa Aktiebol 1,100,474
3,935,505
SWITZERLAND - 2.53%
4,280 ABB A.G. 632,063
8,650 Nestle S.A. 925,556
6,613 Novartis A.G. 550,207
2,107,826
UNITED KINGDOM - 13.20%
80,000 Bass Public Ltd. Co. Cl. B^1 120,128
71,428 Bass Public Ltd. Co. 1,325,882
22,969 Cadbury Schweppes Ltd. PLC 1,415,465
20,200 Carlton Communications PLC 909,000
15,979 Diageo PLC 769,988
13,173 Reuters Holdings PLC 902,350
62,425 Royal Bank of Scotland PLC 1,083,224
18,000 SmithKline Beecham PLC 1,089,000
20,000 Unilever PLC 866,250
13,000 Vodafone Group 1,638,813
80,000 Waste Management International* 870,000
10,990,100
UNITED STATES - 0.68%
8,000 Sprint Corp.^1 564,000
TOTAL COMMON STOCKS (ADRs) (Cost $44,277,120) - 80.15% 66,715,699
Market
Face Amount Description Value
SHORT-TERM CORPORATE NOTES - 16.76%
$ 500,000 Atlantic Richfield Co.,
5.53%, due August 7, 1998 $ 497,081
1,000,000 Becton Dickenson,
5.62%, due July 15, 1998 997,658
1,000,000 Becton Dickenson,
5.51%, due July 16, 1998 997,551
1,000,000 Chevron USA Inc.,
5.50%, due August 14, 1998 993,125
1,000,000 Coca-Cola Co.,
5.48%, due July 9, 1998 998,630
1,000,000 Deere & Co.,
5.52%, due August 4, 1998 994,633
1,000,000 duPont E I deNemours & Co.,
5.50%, due July 29, 1998 995,570
500,000 Gannett Inc.,
5.48%, due July 7, 1998 499,467
1,000,000 General Mills Inc.,
5.53%, due July 2, 1998 999,693
1,000,000 Hershey Foods Corp.,
5.51%, due July 30, 1998 995,408
1,000,000 Lucent Technologies Inc.,
5.48%, due August 7, 1998 994,216
1,000,000 Nalco Chemical Co.,
5.65%, due July 28, 1998 995,606
1,000,000 Progress Capital Co.,
5.51%, due July 1, 1998 999,847
500,000 Progress Capital Co.,
5.50%, due August 11, 1998 496,792
500,000 Sara Lee Corp.,
5.75%, due July 7, 1998 499,441
1,000,000 Toys `R' Us,
5.54%, due July 28, 1998 995,691
TOTAL SHORT-TERM CORPORATE NOTES (Cost $13,950,409) - 16.76% 13,950,409
GOVERNMENT SPONSORED ENTERPRISES - 1.19%
500,000 Federal Home Loan Mortgage Corporation,
5.40%, due October 6, 1998 492,650
500,000 Federal National Mortgage Association,
5.39%, due July 30, 1998 497,754
GOVERNMENT SPONSORED ENTERPRISES (Cost $990,404) - 1.19% 990,404
REPURCHASE AGREEMENT (Cost $3,080,000) - 3.70%
3,080,000 Northern Trust Co., 5.55%, due July 1, 1998
(Collateralized by U.S. Treasury Notes,
5.75%, due September 30, 1999) 3,080,000
TOTAL INVESTMENTS (Cost $62,297,933) - 101.80% $ 84,736,512
Other assets less liabilities - (1.80%) (1,501,741)
TOTAL NET ASSETS - 100.00%
(equivalent to $18.62 per share;
10,000,000 shares of $1.00 par value
capital shares authorized;
4,469,178 shares outstanding) $ 83,234,771
For federal income tax purposes, the identified cost of investments owned at
June 30, 1998 was $62,297,933.
Net unrealized appreciation for federal income tax purposes was $22,438,579,
which is comprised of unrealized appreciation of $24,870,642 and unrealized
depreciation of $2,432,063.
ADR - American Depository Receipt
*Non-income producing security
"1" Non ADR
See accompanying Notes to Financial Statements.
Statement of Assets and Liabilities
June 30, 1998
<TABLE>
ASSETS:
<S> <C>
Investment securities, at market value
(identified cost $62,297,933) $ 84,736,512
Cash 1,587,785
Dividends receivable 99,103
Total assets 86,423,400
LIABILITIES:
Payable for investments purchased 3,188,629
Total liabilities 3,188,629
NET ASSETS $ 83,234,771
NET ASSETS CONSIST OF:
Capital (capital stock and paid-in capital) $ 60,585,115
Accumulated undistributed income:
Net investment income 119,681
Net realized gain on investment transactions 91,396
Net unrealized appreciation on investments and translation
of assets and liabilities in foreign currencies 22,438,579
NET ASSETS APPLICABLE TO OUTSTANDING SHARES $ 83,234,771
Capital shares, $1.00 par value
Authorized 10,000,000
Outstanding 4,469,178
NET ASSET VALUE PER SHARE $ 18.62
</TABLE>
See accompanying Notes to Financial Statements.
Statement of Operations
Year Ended June 30, 1998
<TABLE>
<S> <C>
INVESTMENT INCOME:
Income:
Dividends $ 1,232,128
Interest 571,315
1,803,443
Expenses:
Management fees 520,094
Government fees 24,938
545,032
Net investment income 1,258,411
REALIZED AND UNREALIZED GAIN ON INVESTMENTS AND FOREIGN CURRENCY:
Net realized gain from investment and foreign currency transactions 243,483
Increase in net unrealized appreciation on investments
and translation of assets and liabilities in foreign currencies 9,912,299
Net realized and unrealized gain on investments and
foreign currency 10,155,782
Net increase in net assets resulting from operations $ 11,414,193
</TABLE>
See accompanying Notes to Financial Statements.
Statements of Changes in Net Assets
For the Years Ended June 30, 1998 and 1997
<TABLE>
<CAPTION>
</CAPTION> 1998 1997
<S> <C> <C>
INCREASE IN NET ASSETS FROM OPERATIONS:
Net investment income $ 1,258,411 $ 778,492
Net realized gain from investment and foreign currency transactions 243,483 778,561
Increase in net unrealized appreciation on investments and translation
of assets and liabilities in foreign currencies 9,912,299 8,504,504
Net increase in net assets resulting from operations 11,414,193 10,061,557
DISTRIBUTIONS TO SHAREHOLDERS FROM:*
Net investment income (1,296,555) (644,654)
Net realized gain from investment transactions (776,136) (182,240)
Decrease in net assets from distributions (2,072,691) (826,894)
INCREASE FROM CAPITAL SHARE TRANSACTIONS:
Proceeds from 2,490,461 and 1,292,511 shares sold 43,567,740 17,963,717
Net asset value of 88,697 and 35,885 shares issued for
reinvestment of distributions 1,479,088 525,289
45,046,828 18,489,006
Cost of 1,094,617 and 714,440 shares redeemed (18,914,648) (10,542,570)
Net increase in net assets from capital share transactions 26,132,180 7,946,436
Net increase in net assets 35,473,682 17,181,099
NET ASSETS:
Beginning of year 47,761,089 30,579,990
End of year (including undistributed net investment
income of $119,681 and $157,825, respectively) $ 83,234,771 $ 47,761,089
*Distributions to shareholders:
Income dividends per share $ 0.32 $ 0.21
Capital gains distribution per share $ 0.22 $ 0.07
</TABLE>
See accompanying Notes to Financial Statements.
1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -
The Fund is registered under the Investment Company Act of 1940, as
amended, as a diversified, open-end management investment company.
Effective on April 24, 1996, the Fund's shareholders approved a change
in the fiscal year-end. A summary of significant accounting policies
that the Fund uses in the preparation of its financial statements
follows. The policies are in conformity with generally accepted
accounting principles.
Investments - Securities traded on a national securities exchange are
valued at the last reported sales price on the last business day of the
period or, if no sale was reported on that date, at the average of the
last reported bid and asked prices. Securities traded over-the-counter
are valued at the average of the last reported bid and asked prices.
Short-term obligations are valued at amortized cost, which approximates
market value. Investment transactions are recorded on the trade date.
Interest income is recorded daily. Dividend income and distributions to
shareholders are recorded on the ex-dividend dates. Realized gains and
losses from investment transactions and unrealized appreciation and
depreciation of investments are reported on the identified cost basis.
Foreign Currency Transactions - The accounting records of the Fund are
maintained in U.S. dollars. All assets and liabilities initially
expressed in foreign currencies are converted into U.S. dollars at
prevailing exchange rates. Purchases and sales of investment securities,
dividend and interest income, and certain expenses are translated at the
rates of exchange prevailing on the respective dates of such
transactions.
The Fund does not isolate that portion of the results of operations
resulting from changes in the foreign exchange rates on investments from
the fluctuations arising from changes in the market prices of securities
held. Such fluctuations are included with the net realized and
unrealized gain or loss on investments.
Net realized foreign currency exchange gains or losses arise from sales
of foreign currencies and the difference between asset and liability
amounts initially stated in foreign currencies and the U.S. dollar value
of the amounts actually received or paid. Net unrealized foreign
currency exchange gains or losses arise from change in the value of
assets and liabilities, other than portfolio securities at the end of
the reporting period, resulting from changes in the exchange rates.
Federal Income Taxes - The Fund's policy is to comply with the
requirements of the Internal Revenue Code that are applicable to
regulated investment companies and to
distribute all of its taxable income to its shareholders. Therefore, no
federal income tax provision is required.
Amortization - Discounts and premiums on securities purchased are
amortized over the life of the respective securities.
Estimates - The preparation of financial statements in conformity with
generally accepted accounting principles requires management to make
estimates and assumptions that affect the reported amount of assets and
liabilities and disclosure of contingent assets and liabilities at the
date of the financial statements and the reported amounts of income and
expenses during the reporting period. Actual results could differ from
those estimates.
2. PURCHASES AND SALES OF SECURITIES - The aggregate amounts of
security transactions during the year ended June 30, 1998 (excluding
repurchase agreements and short-term securities), were as follows:
Other than
U.S. Government U.S. Government
Securities Securities
Purchases $ 18,495,659 $ 2,466,694
Proceeds from sales 3,069,995 3,500,000
3. MANAGEMENT FEES - UMB Bank, n.a. is the Fund's manager and
investment adviser and provides or pays the cost of all management,
supervisory and administrative services required in the normal operation
of the Fund. This includes investment management; fees of the custodian,
independent public accountants and legal counsel; remuneration of
officers and directors; rent; and shareholder services, including
maintenance of the shareholder accounting system and transfer agency.
Not considered normal operating expenses and therefore payable by the
Fund are taxes, interest, fees and the other charges of governments and
their agencies for qualifying the fund's shares for sale, special
accounting and legal fees and brokerage commissions. UMB Bank's
management fees are based on average daily net assets of the Fund at the
annual rate of .85 of one percent of net assets. Certain officers and/or
directors of the Fund are also officers and/or directors of Jones &
Babson, Inc., which serves as the Fund's underwriter and distributor.
4. REPURCHASE AGREEMENTS - Securities purchased under agreements to
resell are held by the Fund's custodian and investment counsel, UMB
Bank, n.a. The custodian monitors the market values of the underlying
securities which they have purchased on behalf of the Fund to ensure
that the collateral is sufficient to protect the Fund in the event of
default by the seller.
5. SUBSEQUENT EVENT - Subsequent to the Fund's year-end, the Fund name
will change to UMB Scout WorldWide Fund, Inc.
FINANCIAL HIGHLIGHTS
Per share income and capital changes for a share
outstanding throughout the period.
<TABLE>
<CAPTION>
Years Ended January 1, 1996 Years Ended
June 30, to December 31,
1998 1997 June 30, 1996* 1995 1994
</CAPTION> <C> <C> <C> <C> <C>
Net asset value, beginning of period $ 16.00 $ 12.90 $ 12.08 $ 10.84 $ 10.68
Income from investment operations:
Net investment income 0.29 0.26 0.14 0.22 0.17
Net realized and unrealized gains
on securities 2.87 3.12 0.86 1.36 0.23
Total from investment operations 3.16 3.38 1.00 1.58 0.40
Distributions from:
Net investment income (0.32) (0.21) (0.14) (0.22) (0.17)
Net realized gain on
investment transactions (0.22) (0.07) (0.04) (0.12) (0.07)
Total distributions (0.54) (0.28) (0.18) (0.34) (0.24)
Net asset value, end of period $ 18.62 $ 16.00 $ 12.90 $ 12.08 $ 10.84
Total return 20% 26% 17% 15% 4%
Ratios/Supplemental Data
Net assets, end of year (in millions) $ 83 $ 48 $ 31 $ 24 $ 18
Ratio of expenses to average net assets 0.87% 0.86% 0.85% 0.85% 0.85%
Ratio of net investment income
to average net assets 2.01% 1.93% 2.40% 1.97% 1.87%
Portfolio turnover rate 3% 18% 5% 27% 24%
Average commission rate** $ .0540 $ .0315 $ .0468 - -
</TABLE>
*Ratios for this period of operation are annualized.
**For fiscal years beginning on or after September 1, 1995, a fund is
required to disclose its average commission rate per share for
security trades on which commissions are charged. This amount may vary from
period to period and fund to fund depending on the mix of trades executed in
various markets where trading practices and commission rate structures may
differ.
See accompanying Notes to Financial Statements.
INDEPENDENT ACCOUNTANTS' REPORT
To the Shareholders and Board of Directors
of Scout WorldWide Fund, Inc.:
We have audited the accompanying statement of assets and liabilities of
Scout WorldWide Fund, Inc., including the statement of net assets, as of
June 30, 1998, and the related statement of operations, statements of
changes in net assets and the financial highlights for the periods
indicated thereon. These financial statements and financial highlights
are the responsibility of the Company's management. Our responsibility
is to express an opinion on these financial statements and financial
highlights based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements and
financial highlights are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. Our procedures included
verification of securities owned as of June 30, 1998, by confirmation,
or by the application of alternative auditing procedures with respect to
unsettled portfolio security transactions. An audit also includes
assessing the accounting principles used and significant estimates made
by manage-
ment, as well as evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis for
our opinion.
In our opinion, the financial statements and financial highlights
referred to above present fairly, in all material respects, the
financial position of Scout WorldWide Fund, Inc. as of June 30, 1998,
the results of its operations, the changes in its net assets and the
financial highlights for the periods indicated thereon in conformity
with generally accepted accounting principles.
BAIRD, KURTZ & DOBSON
Kansas City, Missouri
July 24, 1998
This report has been prepared for the information of the Shareholders of
Scout WorldWide Fund, Inc., and is not to be construed as an offering of
the shares of the Fund. Shares of this Fund and of the other Scout Funds
are offered only by the Prospectus, a copy of which may be obtained from
Jones & Babson, Inc.
BOARD OF DIRECTORS
AND OFFICERS
Board of Directors
Larry D. Armel
William E. Hoffman, D.D.S.
Eric T. Jager
Stephen F. Rose
Stuart Wien
Officers
Larry D. Armel, President
P. Bradley Adams, Vice President & Treasurer
Martin A. Cramer, Vice President & Secretary
Constance E. Martin, Vice President
Investment Counsel
UMB Bank, n.a., Kansas City, Missouri
Auditors
Baird, Kurtz & Dobson, Kansas City, Missouri
Legal Counsel
Stradley, Ronon, Stevens & Young,
Philadelphia, Pennsylvania
Custodian
UMB Bank, n.a., Kansas City, Missouri
SCOUT FUNDS
P.O. Box 410498
Kansas City, MO 64141-0498
TOLL-FREE (800) 996-2862
www.umb.com
Underwriter & Distributor: Jones & Babson, Inc., Kansas City, Missouri
JB25B 8/98
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000897216
<NAME> SCOUT WORLDWIDE FUND INC
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUN-30-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 62297933
<INVESTMENTS-AT-VALUE> 84736512
<RECEIVABLES> 99103
<ASSETS-OTHER> 1587785
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 86423400
<PAYABLE-FOR-SECURITIES> 3188629
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 3188629
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 60585115
<SHARES-COMMON-STOCK> 4469178
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 119681
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