UMB Scout Fund Lipper Leaders as of November 30, 2008

UMB Scout International Fund1 UMB Scout Stock Fund UMB Scout Bond Fund UMB Scout Small Cap Fund2

What does it mean to be a Lipper Leader for Total Return?
This fund was scored based on the fund’s historical total return performance relative to peers. Total return is defined as the return after (net of) expenses and includes reinvested dividends. Total return is commonly used to evaluate performance and is part of the risk-return trade-off in Modern Portfolio Theory.

UMB Scout International Fund1 UMB Scout Stock Fund UMB Scout Bond Fund

What does it mean to be a Lipper Leader for Preservation?
These funds have demonstrated an ability to preserve capital in a variety of markets when compared to other funds within the same asset class. By including a Lipper Leader for Preservation in your portfolio, you may help minimize the downside risk associated with other similar funds in the same asset class. A Lipper Leader for Preservation in a more volatile asset class may not be well-suited to shorter-term goals or less risk-tolerant investors. Preservation ratings are relative, rather than absolute, measures, and funds named Lipper Leaders for Preservation may still experience losses periodically; those losses may be larger for equity and mixed equity funds than for fixed income funds.

UMB Scout International Fund1 UMB Scout Small Cap Fund2

What does it mean to be a Lipper Leader for Expense?
These funds are scored based upon their expense minimization relative to their peers with similar load structures.

The Lipper ratings are subject to change every month and are based on an equal-weighted average of percentile ranks for the Preservation and Expense metrics over three-, five-, and ten-year periods (if applicable). The highest 20% of funds in each peer group are named Lipper Leaders, the next 20% receive a score of 4, the middle 20% are scored 3, the next 20% are scored 2, and the lowest 20% are scored 1.

Lipper ratings for Total Return reflect funds’ historical total return performance relative to peers as of November 30, 2008. The ratings are subject to change every month and are based on an equal-weighted average of percentile ranks for the Total Return metrics over three-, five-, and ten-year periods (if applicable). The highest 20% of funds in each peer group are named Lipper Leader or a score of 5 for Total Return, the next 20% receive a score of 4, the middle 20% are scored 3, the next 20% are scored 2, and the lowest 20% are scored 1. The UMB Scout International Fund, in Lipper’s International Large-Cap Growth classification, received the following ratings for the 3-, 5-, and 10-year periods, respectively: Total Return: Lipper Leader rating (among 82 equity funds), Lipper Leader rating (among 72 equity funds), and Lipper Leader rating (among 42 equity funds). The UMB Scout Stock Fund, in Lipper's Large-Cap Core classification, received the following ratings for the 3-, 5- and 10-year periods, respectively: Lipper Leader rating (among 715 equity funds), Lipper Leader rating (among 599 equity funds) and Lipper Leader rating (among 336 equity funds). The UMB Scout Bond Fund, in Lipper's Short-Intermediate Investment Grade Debt Funds classification, received the following ratings for the 3-, 5- and 10-year periods, respectively: Lipper Leader rating (among 133 bond funds), Lipper Leader rating (among 125 bond funds) and Lipper Leader rating (among 70 bond funds).The UMB Scout Small Cap Fund, in Lipper’s Small-Cap Growth classification, received the following ratings for the 3-, 5- and 10-year periods: Lipper Leader rating (among 505 equity funds), Lipper Leader rating (among 406 equity funds) and Lipper Leader rating (among 201 equity funds).

Lipper ratings for Preservation reflect funds' historical loss avoidance relative to other funds within the same asset class as of November 30, 2008. Preservation ratings are relative, rather than absolute, measures, and funds named Lipper Leaders for Preservation may still experience losses periodically; those losses may be larger for equity and mixed equity funds than for fixed income funds. . The UMB Scout International Fund, in Lipper's International Large-Cap Growth classification, received the following ratings for the 3-, 5- and 10-year periods: 4 rating (among 9,203 equity funds), 4 rating (among 7,387 equity funds) and Lipper Leader rating (among 3,483 equity funds). The UMB Scout Stock Fund, in Lipper's Large-Cap Core classification, received the following ratings for the 3-, 5- and 10-year periods, respectively: Lipper Leader rating (among 9,203 equity funds), Lipper Leader rating (among 7,387 equity funds) and Lipper Leader rating (among 3,483 equity funds). The UMB Scout Bond Fund, in Lipper's Short-Intermediate Investment Grade Debt Funds classification, received the following ratings for the 3-, 5- and 10-year periods, respectively: Lipper Leader rating (among 4,128 bond funds), Lipper Leader rating (among 3,659 bond funds) and Lipper Leader rating (among 2,375 bond funds).

Lipper ratings for Expense reflect funds' expense minimization relative to peers with similar load structures as of November 30, 2008. The UMB Scout International Fund, in Lipper's International Large-Cap Growth classification, received the following ratings for the 3-, 5- and 10-year periods: Lipper Leader rating (among 30 equity funds), Lipper Leader rating (among 27 equity funds) and Lipper Leader rating (among 20 equity funds). The UMB Scout Small Cap Fund, in Lipper’s Small Cap Growth classification, received the following ratings for the 3-, 5- and 10-year periods: Lipper Leader rating (among 164equity funds), Lipper Leader rating (among 135 equity funds) and Lipper Leader rating (among 92 equity funds).

Lipper ratings are not intended to predict future results and Lipper does not guarantee the accuracy of this information. More information is available at www.lipperleaders.com. Lipper Leader Copyright 2008, Reuters, All Rights Reserved.

¹Foreign investments present additional risks due to currency fluctuations, economic and political factors, government regulations, difference in accounting standards and other factors. Investments in emerging markets involve even greater risks.

²Due to the limited focus of this Fund, the UMB Scout Small Cap Fund is more susceptible to market volatility because smaller companies may not have the management experience, financial resources, product diversification and competitive strengths of larger companies. Additionally, smaller company stocks tend to be sold less often than larger company stocks.

Average Annual Returns as of September 30, 2008:
UMB Scout International Fund:
1-Year: -22.49%, 5-Years: 12.28%, 10-Years: 8.09%
Gross Expense Ratio: 0.96% (as of 06/30/08)

UMB Scout Small Cap Fund:
1-Year: -19.86%, 5-Years: 8.95%, 10-Years: 9.25%
Gross Expense Ratio: 1.01% (as of 06/30/08)

UMB Scout Stock Fund:
1-Year: -9.87%, 5-Years 6.90%, 10-Years: 3.94%
Gross Expense Ratio: 0.93% (as of 06/30/08)

UMB Scout Bond Fund:
1-Year: 3.90%, 5-Years: 2.83%, 10-Years: 4.35%
Gross Expense Ratio: 0.74% (as of 06/30/08)

The performance data quoted represents past performance and past performance is not a guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance information quoted. To obtain performance information current to the most recent month-end, please call 1-800-996-2862.

The performance returns for the UMB Scout Stock Fund and the UMB Scout Bond Fund reflect a fee waiver in effect. In the absence of such waiver, the returns would be reduced.

A redemption fee of 2% will be imposed on redemptions or exchanges made within two months of purchase of shares in the UMB Scout International Fund and UMB Scout Small Cap Fund. Certain types of accounts are exempt from this fee. Please see the prospectus for more information.

Prior to July 2, 2001, the UMB Scout Small Cap Fund was known as the UMB Scout Regional Fund and it was managed in accordance with a different investment objective and strategy.

Prior to April 1, 2005, the UMB Scout Stock Fund was managed in accordance with a different investment strategy.

The UMB Scout Funds are distributed by UMB Distribution Services, LLC, an affiliate of UMB Financial Corporation, and managed by Scout Investment Advisors, Inc., a subsidiary of UMB Bank, n.a.

"UMB," "Scout" and the Scout design are registered service marks of UMB Financial Corporation.