Long-term growth of capital.
The Fund pursues its objective by investing, under normal circumstances, primarily in equity securities (mostly common stocks) of smaller and mid-sized companies that are either located outside of the United States or whose primary business is carried on outside the United States. Smaller and mid-sized companies are companies with market capitalization (share price multiplied by number of shares outstanding), at the time of purchase, between $500 million and $17 billion. The equity securities in which the Fund invests include common stocks, depositary receipts (receipts typically issued by banks or trust companies representing ownership interests of securities issued by foreign companies), rights, warrants, and securities convertible into common stocks. The Fund normally invests at least 80% of its net assets in equity securities as described above.
A redemption fee of 2% will be imposed on redemptions and exchanges made within two months of purchase of shares in the Scout International Discovery Fund. Please see the prospectus for more information about the fee and which accounts it applies to.
The Fund may be suitable for aggressive investors hoping to achieve long-term growth with the potential for an above-average return while assuming the additional risks of foreign investments as well as short-term volatility.
| Date of inception: | 12/31/07 |
|---|---|
| Investment advisory fees: |
0.95%* |
| Other expenses: |
2.40% |
| Total annual fund operating expenses: |
3.35% |
| Less advisor's fees waived/expenses: |
-1.75%** |
| Total net annual fund operating expenses: |
1.60%† |
| Lead Portfolio Manager: | James L. Moffett, CFA |
| Co-Portfolio Manager: | Michael D. Stack, CFA |
| Ticker: | UMBDX |
| Cusip: | 81063U602 |
* Under its Investment Advisory Agreement with Scout Funds, on behalf of the Scout International Discovery Fund, Scout Investment Advisors, Inc. will receive investment advisory fees from the Fund based upon an annual rate of 0.95% on the first $1 billion of average daily net assets and 0.85% on average daily net assets over $1 billion.
** The Advisor has entered into an agreement to limit fees and/or make expense payments through October 31, 2009, in order to limit Net Annual Fund Operating Expenses to no more than 1.60%. If Total Annual Fund Operating Expenses would fall below the expense limit, the Advisor may cause the Fund's expenses to remain at the expense limit while it is reimbursed for fees that it waived or expenses that it paid during the previous three year period. Please see the prospectus for more information.
† As of June 30, 2008.