UMB SCOUT WORLDWIDE FUND
UMB SCOUT WORLDWIDE SELECT FUND
Supplement dated May 8, 2000 to the
Prospectus dated October 31, 1999
for the UMB Scout Funds
On May 2, 2000, shareholders approved new Management Agreements
for the UMB Scout WorldWide Fund and UMB Scout WorldWide Select
Fund with each Fund's existing investment advisor and manager,
UMB Bank, n.a. As with the previous Management Agreements, each
Fund pays an "all inclusive" fee to UMB Bank, n.a. that covers
investment advisory services as well as all other services
required to operate the Funds. Under the new Management
Agreements, each Fund pays management fees based on an annual
rate of 1.10% of the first $500 million of average daily net
assets; 1.00% of the next $500 million and 0.90% on average daily
net assets over $1 billion. The following information supercedes
the information in the Fees and Expenses section of the October
31, 1999 prospectus.
The following table describes the fees and expenses that you
would pay if you bought and held shares of the Funds.
UMB Scout UMB Scout
WorldWide Fund WorldWide
Select Fund
Fund Operating
Expenses
Management Fees 1.10% 1.10%
Distribution (12b-1) Fees None None
Other Expenses 0.01% None
Total Annual
Operating Expenses 1.11% 1.10%
The following example illustrates the expenses of an investment
in the Funds assuming an initial investment of $10,000, a 5%
annual return, and that operating expenses remain the same during
the periods. Although your actual costs may be higher or lower,
based on these assumptions, your costs would be:
UMB Scout UMB Scout
WorldWide Fund WorldWide Select
Fund
Year
1 year $ 113 $ 112
3 years $ 353 $ 350
5 years $ 612 -
10 years $ 1,352 -
Doc. #314090 v.02 05/08/00 11:01 AM
