You should consider the Funds' investment objectives, risks, charges and expenses carefully before investing. For a prospectus, which contains this and other information about the Funds call 800.996.2862 or download one now (.pdf). Please read the prospectus carefully before investing.

Foreign investments present additional risks due to currency fluctuations, economic and political factors, lower liquidity, government regulations, differences in securities regulations and accounting standards, possible changes in taxation, limited public information and other factors. The risks are magnified in countries with emerging markets, since these countries may have relatively unstable governments and less established markets and economies.

Due to their limited focus, investments in the Scout Small Cap Fund, Scout TrendStar Small Cap Fund and Scout International Discovery Fund are 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, and in smaller amounts, than larger company stocks.

MORNINGSTAR

The Overall Morningstar Rating™ for a fund is derived from the weighted-average of the performance figures associated with its three-, five-, and ten-year (if applicable) Morningstar Rating metrics.

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variations in a fund's monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of the funds in a broad asset class receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.)

As of May 31, 2009, the Scout International Fund received the following star ratings among U.S. domiciled Foreign Large Blend funds for the following time periods: 5 stars (among 604 funds) for the three-year, 5 stars (among 453 funds) for the five-year and 5 stars (among 242 funds) for the ten-year time periods. The Scout Small Cap Fund received the following star ratings among U.S. domiciled Small Growth funds for the following time periods: 4 stars (among 687 funds) for the three-year, 4 stars (among 582 funds) for the five-year and 5 stars (among 310 funds) for the ten-year time periods. The Scout TrendStar Small Cap Fund received the following star ratings among U.S. domiciled Small Growth funds for the following time periods: 2 stars (among 687 funds) for the three-year and 3 stars (among 582 funds) for the five-year time periods. The Scout Stock Fund received the following star ratings among U.S. domiciled Large Blend funds for the following time periods: 5 stars (among 1,721 funds) for the three-year, 5 stars (among 1,355 funds) for the five-year and 4 stars (among 672 funds) for the ten-year time periods. The Scout Bond Fund received the following star ratings among U.S. domiciled Intermediate-Term Bond funds for the following time periods: 4 stars (among 999 funds) for the three-year, 4 stars (among 865 funds) for the five-year and 3 stars (among 484 funds) for the ten-year time periods.

© 2009 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

LIPPER

The Lipper ratings are subject to change every month and are based on an equal-weighted average of percentile ranks for the Total Return, 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 May 31, 2009.  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 Scout International Fund, in Lipper's International Large-Cap Growth classification, received the following ratings for the 3-, 5-, and 10-year periods, respectively: Lipper Leader rating (among 133 equity funds), Lipper Leader rating (among 107 equity funds), and 4 rating (among 57 equity funds). The 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 811 equity funds), Lipper Leader rating (among 676 equity funds) and 4 rating (among 370 equity funds). The 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 134 bond funds), Lipper Leader rating (among 127 bond funds) and Lipper Leader rating (among 69 bond funds). The Scout Small Cap Fund, in Lipper's Small-Cap Growth classification, received the following ratings for the 3-, 5- and 10-year periods: 4 rating (among 496 equity funds), 4 rating (among 410 equity funds) and Lipper Leader rating (among 214 equity funds).

Lipper ratings for Preservation reflect funds' historical loss avoidance relative to other funds within the same asset class as of May 31, 2009. 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 Scout International Fund, in Lipper's International Large-Cap Growth classification, received the following ratings for the 3-, 5-, and 10-year periods, respectively: Lipper Leader rating (among 9,360 equity funds), 4 rating (among 7,493 equity funds), and Lipper Leader rating (among 3,714 equity funds).The 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 9,360 equity funds), Lipper Leader rating (among 7,493 equity funds) and Lipper Leader rating (among 3,714 equity funds). The 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 4,134 bond funds), Lipper Leader rating (among 3,669 bond funds) and Lipper Leader rating (among 2,439 bond funds).

Lipper ratings for Expense reflect funds' expense minimization relative to peers with similar load structures as of May 31, 2009. The 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 42 equity funds), Lipper Leader rating (among 36 equity funds) and Lipper Leader rating (among 27 equity funds). The 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 162 equity funds), Lipper Leader rating (among 131 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 2009, Reuters, All Rights Reserved.

Average Annual Returns as of March 31, 2009:

Scout International Fund:
1-Year: -42.16%, 5-Years: 1.21%, 10-Years: 2.64%
Gross Expense Ratio 0.96% (as of 06/30/08)

Scout Stock Fund:
1-Year: -25.69%, 5-Years -0.77%, 10-Years: 0.21%
Gross Expense Ratio: 0.93% (as of 06/30/08)

Scout Small Cap Fund:
1-Year: -38.18%, 5-Years: -3.17%, 10-Years: 4.83%
Gross Expense Ratio: 1.01% (as of 06/30/08)

Scout TrendStar Small Cap Fund:
1-Year: -33.87%, 5-Years: -7.96%, Since inception: -5.77%
Gross Expense Ratio: 2.86% (as of 05/19/09)

Scout Mid Cap Fund:
1-Year: -32.57%, Since inception: -12.35%
Gross Expense Ratio: 1.31% (as of 06/30/08)

Scout International Discovery:
1-Year: -40.96%, Since inception: -35.31%
Gross Expense Ratio: 3.35% (as of 06/30/08)

Scout Bond Fund:
1-Year: 4.81%, 5-Years: 3.46%, 10-Years: 4.88%
Gross Expense Ratio: 0.74% (as of 06/30/08)

The Scout TrendStar Small Cap Fund's inception date was October 31, 2003.

The Scout Mid Cap Fund's inception date was October 31, 2006.

The Scout International Discovery Fund's inception date was December 31, 2007.

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 800.996.2862.

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

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

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

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

Money Market Funds

An investment in the Scout Federal Money Market Fund, Scout Prime Money Market Fund and Scout Tax-Free Money Market Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Fund.

“Scout” and the “Scout” design are registered service marks of UMB Financial Corporation.

• NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE