UMB SCOUT WORLDWIDE FUND
UMB SCOUT WORLDWIDE SELECT FUND
Supplement dated April 13, 2000
to the
Prospectus dated October 31, 1999 for UMB Scout WorldWide Fund,
Inc.
The Board of Directors of UMB Scout WorldWide Fund, Inc.
unanimously approved a new Management Agreement 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.
The Board has recommended that shareholders vote to approve the
new Management Agreement for their Fund at a Special Meeting of
Shareholders to be held on May 2, 2000 in Kansas City, Missouri.
The services provided under the proposed Management Agreement
will remain the same and the proposed Agreement is identical to
the current Agreement with the exception of a moderate fee
increase. The new Agreement will be effective immediately upon
shareholder approval.
Under the current (and proposed) Management Agreement for the
Funds, the Funds pay 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. The current annual
management fee is 0.85% of the average daily net assets of each
Fund. Under the proposed Management Agreement, the Funds would
pay UMB Bank, n.a. management fees according a schedule of fee
"breakpoints" at certain levels so that the new management fees
will be reduced as Fund assets grow. Each Fund would pay UMB
Bank, n.a. management fees based upon annual rates 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 table describes the current (and proposed) fees and
expenses that you would pay if you bought and held shares of the
Funds.
UMB Scout WorldWide UMB Scout WorldWide
Fund Select Fund
Fund Operating Current Proposed Current Proposed
Expenses
Management Fees 0.85% 1.10% 0.85% 1.10%
Distribution None None None None
(12b-1) Fees
Other Expenses 0.01% 0.01% None None
Total Annual 0.86% 1.11% 0.85% 1.10%
Operating
Expenses
The following example illustrates the expenses of an investment
in the Funds under the current and proposed Management Agreements
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 WorldWide Fund UMB Scout WorldWide
Select Fund
Year Current Proposed Current Proposed
1 year $ 88 $113 $87 $112
3 years $274 $353 $271 $350
5 years $477 $612
10 years $1,061 $1,352
Shareholders of record on March 1, 2000 are entitled to vote for
or against the approval of the proposed Management Agreement at
the meeting to be held May 2, 2000 and have been sent a proxy and
proxy statement requesting their votes.
