Morningstar rating:
Rated against 363 Mid Cap blend funds
Overall Morningstar RatingTM (based on risk-adjusted performance as of July 31, 2010)
Lipper rating*:
Long-term growth of capital.
The Fund pursues its objective by investing primarily in common stocks of mid cap companies. Under normal circumstances, at least 80% of the Fund's net assets (plus the amount of any borrowing for investment purposes) will be invested in mid cap equity securities. Any change in this 80% policy approved by the Board may not take effect until shareholders have received written notice of the change at least sixty days before it occurs. Mid cap equity securities are securities issued by companies with market capitalizations, at the time of purchase, between $1.5 billion and $17 billion. The equity securities in which the Fund invests include common stocks, preferred stocks and securities convertible into common stocks, right warrants, and REITs (Real Estate Investment Trusts). The Fund maintains a portfolio of investments diversified across companies and economic sectors.
The Fund will invest primarily in securities of U.S. companies, but may invest up to 20% of the portfolio in foreign companies, ADRs (American Depositary Receipts) or GDRs (Global Depositary Receipts). Depositary receipts are typically issued by banks or trust companies representing ownership interests of securities issued by foreign companies.
A redemption fee of 2% will be imposed on redemptions and exchanges made within two months of purchase of shares in the Scout Mid Cap 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 willing to accept short-term volatility in return for potential long-term high growth.
| Date of inception: | October 31, 2006 |
|---|---|
| Investment advisory fees: |
0.80%* |
| Other expenses: |
0.61% |
| Total annual fund operating expenses: |
1.41% |
| Less/Plus advisor's fees waived/recovered: |
0.01%** |
| Total net annual fund operating expenses: |
1.42%† |
| Lead Portfolio Manager: | Patrick Dunkerley, CFA |
| Assistant Portfolio Manager: | Derek Smashey, CFA |
| Ticker: | UMBMX |
| Cusip: | 81063U206 |
* Under its Investment Advisory Agreement with Scout Funds, on behalf of the Scout Mid Cap Fund, Scout Advisors, Inc. will receive investment advisory fees from the Fund based upon an annual rate of 0.80% on the first $1 billion of average daily net assets and 0.70% on average daily net assets over $1 billion.
** Scout Investment Advisors, Inc. has entered into an agreement to waive fees and/or make expense payments through October 31, 2011, so that actual total annual fund operating expenses of the Scout Mid Cap Fund do not exceed 1.40%. The net expense ratio for the Fund reflects the reimbursement of fees previously waived by the Advisor in accourdance with the terms of this agreement.
† As of June 30, 2009.