Other 2012-06-30 0001105128 2012-10-31 SCOUT FUNDS false 2012-10-31 2012-10-31 <tt>The Fund pays transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). A higher portfolio turnover rate <br />may indicate higher transaction costs and may result in higher taxes when Fund<br />shares are held in a taxable account. These costs, which are not reflected in<br />annual fund operating expenses or in the expense example, affect the Fund's<br />performance. During the most recent fiscal year, the Fund's portfolio turnover<br />rate was 40% of the average value of its portfolio.</tt> <div style="display:none">~ http://www.scoutfunds.com/role/ExpenseExample_S000020387Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.scoutfunds.com/role/BarChartData_S000020387Member column primary compact * row dei_LegalEntityAxis compact * row rr_ProspectusShareClassAxis compact * ~</div> <tt>The investment objective of the Scout International Discovery Fund (the "Fund")<br />is long-term growth of capital.</tt> <tt>The following example is intended to help you compare the cost of investing <br />in the Fund with the cost of investing in other mutual funds. The example <br />assumes that you invest $10,000 in the Fund for the time periods indicated <br />and then redeem all your shares at the end of those periods. The example <br />also assumes that your investment has a 5% return each year and that the<br />Fund's operating expenses remain the same. Please note that only the first <br />year in the example reflects the effect of the Advisor's contractual agreement <br />to limit overall Fund expenses. Although your actual costs may be higher or <br />lower, based on these assumptions your costs would be:</tt> reflects no deduction for fees, expenses or taxes <tt>The Fund pursues its objective by investing, under normal circumstances, primarily <br />in equity securities (mostly common stocks) of smaller and mid-sized companies that <br />are either located outside the United States or whose primary business is carried <br />on outside the United States. Smaller and mid-sized companies are companies with <br />market capitalization (share price multiplied by number of shares outstanding), <br />at the time of purchase, between $500 million and $17 billion.<br /> <br />The equity securities in which the Fund invests include common stocks, depositary <br />receipts, preferred stocks, convertible securities, and warrants and other rights. <br />Common stock represents an ownership interest in a company and its value is based <br />on the success of the company's business, any income paid to shareholders, the <br />value of the company's assets, general market conditions and investor demand. <br />Depositary receipts are typically issued by banks or trust companies representing <br />ownership interests of securities issued by foreign companies. Preferred <br />stockholders typically receive greater dividends but may receive less appreciation <br />than common stockholders and may have different voting rights as well. Convertible <br />securities entitle the holder to receive interest paid or accrued on debt or the <br />dividend paid on preferred stock until the convertible securities mature or are <br />redeemed, converted or exchanged. Warrants and similar rights are privileges <br />issued by corporations enabling the owners to subscribe to and purchase a specified <br />number of shares of the corporation at a specified price during a specified period <br />of time. The Fund normally invests at least 80% of its net assets in equity securities.<br /> <br />How does the Fund choose securities in which to invest? The Fund invests in a<br />diversified portfolio of equity securities which, in the opinion of the Advisor,<br />offer good growth potential because they are expected to benefit from certain<br />macroeconomic or company-specific factors. The Fund also seeks to invest in<br />securities that are attractively priced relative to their fundamental<br />characteristics. The Advisor selects securities based on its opinion as to which<br />economic sectors have the best prospects in view of the prevailing global,<br />domestic and local economic conditions. The Advisor also analyzes the economic,<br />political and market conditions of the various countries in which the Fund may<br />invest.<br /> <br />Among the fundamental macroeconomic factors the Advisor considers are geopolitical <br />issues and macroeconomic issues specific to regions or nations. The Advisor also <br />considers certain fundamental factors that are company-specific, including cash <br />flow, financial strength, profitability and potential or actual catalysts that <br />could positively impact share prices. The Fund primarily seeks to invest in <br />securities of companies that are known for the quality and acceptance of their <br />products or services and for their ability to generate profits. In addition, the <br />Advisor will take country specific accounting systems and legal issues into <br />consideration, as well as whether more than 50% of the company's assets, <br />personnel, sales or earnings are located outside the United States, and<br />therefore whether the company's primary business is carried on outside the<br />United States.<br /><br />The Fund's Advisor believes the intrinsic worth and consequent value of the<br />stock of most well-managed and successful companies does not usually change<br />rapidly, even though wide variations in stock prices may occur. Accordingly, <br />the Fund normally takes long-term positions in stocks and maintains the <br />positions while the companies' record and prospects continue to meet with the <br />Advisor's approval. However, because smaller and mid-sized companies are <br />generally less seasoned than larger companies, they may experience greater <br />volatility with regard to their fundamentals than larger companies, which <br />could result in higher portfolio turnover for the Fund.<br /> <br />The Fund intends to diversify investments among a number of countries throughout<br />the world. In addition, the Fund may invest a substantial portion of its assets<br />(more than 25%) in one or more countries if economic and business conditions<br />warrant such investment. The Fund will invest no more than 20% of its net assets<br />in investments in developing countries or emerging markets.<br /> <br />The Fund intends to hold some cash, short-term debt obligations, government<br />securities or other high-quality investments for reserves to cover redemptions<br />and unanticipated expenses. There may be times, however, when the Fund attempts<br />to respond to adverse market, economic, political or other conditions by<br />investing a higher percentage of its assets in cash or in those types of money<br />market investments for temporary defensive purposes. During those times, the<br />Fund may not be able to pursue its investment objective and, instead, will focus<br />on preserving your investment.</tt> SCOUT INTERNATIONAL DISCOVERY FUND SUMMARY Example: After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Investment Objectives Keep in mind that past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. As with any mutual fund, there is a risk that you could lose money by investing in the Fund. Main Risks Shareholder Fees (fees paid directly from your investment) The return after taxes on distributions and sale of Fund shares may be higher than the return before taxes because the calculation assumes that shareholders receive a tax benefit for capital losses incurred on the sale of their shares. 0.40 Actual after-tax returns depend on your individual tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Annual Total Return as of December 31 of Each Year Performance <tt>After-tax returns are calculated using the historical highest individual federal<br />marginal income tax rates and do not reflect the impact of state and local taxes. <br />Actual after-tax returns depend on your individual tax situation and may differ <br />from those shown. After-tax returns shown are not relevant to investors who hold <br />their Fund shares through tax-deferred arrangements, such as 401(k) plans or <br />individual retirement accounts. The return after taxes on distributions and sale <br />of Fund shares may be higher than the return before taxes because the calculation <br />assumes that shareholders receive a tax benefit for capital losses incurred on <br />the sale of their shares.</tt> The bar chart and table that follow provide an indication of the risks of investing in the Fund. <tt>During the periods shown in the bar chart above the Fund's highest quarterly<br />return was 23.18% (quarter ended June 30, 2009) and the Fund's lowest quarterly<br />return was -19.40% (quarter ended December 31, 2008). <br /><br />Year-to-date return (through September 30, 2012): 13.12%</tt> 1-800-996-2862 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Average Annual Total Return as of December 31, 2011 Portfolio Turnover <tt>As with any mutual fund, there is a risk that you could lose money by investing<br />in the Fund. The shares offered by this Prospectus are not deposits or obligations <br />of, nor guaranteed by, UMB Bank, n.a. ("UMB") or any other banking institution. <br />They are not federally insured by the Federal Deposit Insurance Corporation or <br />any other United States government agency. These shares involve investment risks, <br />including the possible loss of the principal invested.<br /> <br />Market Risks: The Fund normally invests in equity securities. Equity securities<br />are subject to market, economic and business risks that will cause their prices<br />to fluctuate over time, sometimes rapidly and unpredictably. When the value of<br />the Fund's equity securities goes down, your investment in the Fund decreases in<br />value. Different types of investments shift in and out of favor depending on<br />market and economic conditions that may affect individual companies or industries, <br />or the securities market as a whole. At various times, stocks will be more or <br />less favorable than bonds, and small company stocks will be more or less <br />favorable than large company stocks. U.S. and international equity markets<br />have experienced volatility in recent years in response to economic and market<br />conditions. During a general downturn in the economy and securities markets,<br />multiple asset classes may be negatively affected. Because of this, the Fund<br />will perform better or worse than other types of funds depending on what is in<br />favor, and the value of the Fund may go down.<br /> <br />Mid Cap and Small Cap Company Risks: The Fund invests primarily in small and mid<br />cap companies. Generally, mid cap and small cap companies, which are often less<br />seasoned, have more potential for rapid growth. However, they often involve<br />greater risk than large cap companies and these risks are passed on to funds<br />that invest in them. These companies may not have the management experience,<br />financial resources, product diversification and competitive strengths of larger<br />companies. Therefore, the securities of mid cap and small cap companies are<br />generally more volatile than the securities of larger, more established companies. <br />Investments in the Fund may be more suitable for long-term investors who can bear <br />the risk of these fluctuations.<br /><br />Mid cap and small cap company stocks tend to be bought and sold less often and<br />in smaller amounts than larger company stocks. Because of this, if the Fund<br />wants to sell a large quantity of a mid cap or small cap company stock, it may<br />have to sell at a lower price than the Advisor might prefer, or it may have to<br />sell in small quantities over a period of time.<br /> <br />While these risks cannot be eliminated, the Advisor tries to minimize risk by<br />diversifying the Fund's investments across different companies and economic<br />sectors.<br /> <br />International Investing Risks: International investing poses additional risks.<br />If a security owned by the Fund is denominated in a foreign currency, the value<br />of the foreign currency may fluctuate relative to the United States dollar and<br />cause a loss to the Fund. International markets may be subject to political<br />instability, which may make foreign investments more volatile than investments<br />in domestic markets. International markets are not always as liquid as in the<br />United States, sometimes making it harder to sell a security. In addition,<br />foreign companies may not be subject to comparable accounting, auditing and<br />financial reporting standards as United States companies, and therefore,<br />information about the foreign companies may not be readily available.<br /> <br />To the extent the Fund invests a significant portion of its assets in a single<br />country or region, the Fund may be subject to increased risk associated with the<br />country or region. The risks of investing in foreign securities may be increased<br />if the investments are located in developing countries or emerging markets. <br />Security prices in emerging markets can be significantly more volatile than those <br />in more developed markets, reflecting the greater uncertainties of investing in <br />less established markets and economies. These risks are inherently passed on to <br />the company's shareholders, including the Fund, and in turn, to the Fund's <br />shareholders.<br /> <br />As markets become more globalized, many U.S. companies are increasing<br />international business operations and are subject to international investing<br />risks. Funds that invest in larger U.S. companies are subject to some degree of<br />international risk as a result of these holdings and, to a lesser degree, as a<br />result of owning direct or indirect interests in foreign companies (typically<br />large multi-national companies).<br /> <br />Value Investing Risks: The Fund can utilize a value bias in choosing the<br />securities for the Fund's portfolio. A value stock is one that trades at an<br />attractive price relative to the company's intrinsic value. A value stock may<br />not increase in price as anticipated by the Advisor if other investors fail <br />to recognize the company's value or the factors that the Advisor believes will<br />increase the price of the security do not occur.<br /> <br />Growth Investing Risks: The Fund can utilize a "growth investing style" in<br />choosing securities for the Fund's portfolio. A growth stock is stock of a<br />company which is growing earnings and/or revenue faster than its industry or <br />the overall market. A slower growth or recessionary economic environment could <br />have an adverse effect on the price of growth stocks. Historically, growth<br />investments have performed best during the later stages of economic expansion. <br />Therefore, the growth investing style may go in and out of favor. At times <br />when the growth investing style used is out of favor, the Fund may underperform <br />other equity funds that use different investing styles.<br /> <br />Portfolio Turnover Risks: The Fund may experience portfolio turnover in excess<br />of 100%. Portfolio turnover may involve the payment by the Fund of brokerage and<br />other transaction costs on the sale of securities, as well as on the investment<br />of the proceeds in other securities. The greater the portfolio turnover, the<br />greater the transaction costs to the Fund, which could have an adverse effect on<br />the Fund's total rate of return. In addition, funds with high portfolio turnover<br />rates may be more likely than low-turnover funds to generate capital gains that<br />must be distributed to shareholders as taxable income.<br />&#xA0;&#xA0;<br />Management Risks: The Fund is subject to management risk as an actively managed<br />investment portfolio and depends on the decisions of the portfolio managers to<br />produce the desired results.</tt> Fees and Expenses Principal Investment Strategies www.scoutfunds.com <tt>The bar chart and table that follow provide an indication of the risks of<br />investing in the Fund. The bar chart shows how the Fund's returns have changed<br />from year to year. The table shows how the Fund's average annual returns for 1<br />year and since inception periods compare with those of a broad market benchmark<br />index, as well as an index of mutual funds with similar investment objectives. <br />Keep in mind that past performance (before and after taxes) is not necessarily <br />an indication of how the Fund will perform in the future. Updated performance <br />information is available at no cost by visiting www.scoutfunds.com or by <br />calling 1-800-996-2862.</tt> <tt>The following tables describe the fees and expenses that you may pay if you buy<br />and hold shares of the Fund.</tt> <div style="display:none">~ http://www.scoutfunds.com/role/OperatingExpensesData_S000020387Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.scoutfunds.com/role/PerformanceTableData_S000020387Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> The shares offered by this Prospectus are not deposits or obligations of, nor guaranteed by, UMB Bank, n.a. ("UMB") or any other banking institution. They are not federally insured by the Federal Deposit Insurance Corporation or any other United States government agency. <div style="display:none">~ http://www.scoutfunds.com/role/ShareholderFeesData_S000020387Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> Lipper International Small/Mid Growth Funds Index (reflects no deduction for fees, expenses or taxes) -0.1465 -0.0672 2007-12-31 MSCI EAFE SMID Index-U.S. Dollars (net) (reflects no deduction for fees, expenses or taxes) -0.1422 -0.0518 2007-12-31 Return After Taxes on Distributions and Sale of Fund Shares -0.0817 -0.0281 2007-12-31 Return After Taxes on Distributions -0.1280 -0.0345 2007-12-31 UMBDX 0 lowest quarterly return highest quarterly return 0.00 2012-09-30 0 Return Before Taxes 163 2009-06-30 560 -0.1940 -0.0026 0.1641 2159 982 0.2318 -0.1292 0.0091 -0.3471 0.0095 2013-10-31 2008-12-31 0.3183 Year-to-date return -0.1292 0.00 0.00 0.0160 0.0186 -0.0335 2007-12-31 0.1312 0.00 <tt>The Fund pays transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). A higher portfolio turnover rate <br />may indicate higher transaction costs and may result in higher taxes when Fund<br />shares are held in a taxable account. These costs, which are not reflected in<br />annual fund operating expenses or in the expense example, affect the Fund's<br />performance. During the most recent fiscal year, the Fund's portfolio turnover<br />rate was 20% of the average value of its portfolio.</tt> <div style="display:none">~ http://www.scoutfunds.com/role/ExpenseExample_S000007705Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.scoutfunds.com/role/BarChartData_S000007705Member column primary compact * row dei_LegalEntityAxis compact * row rr_ProspectusShareClassAxis compact * ~</div> <tt>The investment objectives of the Scout International Fund (the "Fund") are<br />long-term growth of capital and income.</tt> <tt>The following example is intended to help you compare the cost of investing <br />in the Fund with the cost of investing in other mutual funds. The example <br />assumes that you invest $10,000 in the Fund for the time periods indicated <br />and then redeem all your shares at the end of those periods. The example <br />also assumes that your investment has a 5% return each year and that the<br />Fund's operating expenses remain the same. Although your actual costs may <br />be higher or lower, based on these assumptions your costs would be:</tt> reflects no deduction for fees, expenses or taxes <tt>The Fund normally pursues its objectives by investing in a diversified portfolio<br />consisting primarily of equity securities of established companies either<br />located outside the United States or whose primary business is carried on<br />outside the United States. The equity securities in which the Fund invests<br />include common stocks, depositary receipts, preferred stocks, convertible<br />securities, and warrants and other rights. Common stock represents an ownership<br />interest in a company and its value is based on the success of the company's<br />business, any income paid to shareholders, the value of the company's assets,<br />general market conditions and investor demand. Depositary receipts are typically<br />issued by banks or trust companies representing ownership interests of securities <br />issued by foreign companies. Preferred stockholders typically receive greater <br />dividends but may receive less appreciation than common stockholders and may <br />have different voting rights as well. Convertible securities entitle the<br />holder to receive interest paid or accrued on debt or the dividend paid on<br />preferred stock until the convertible securities mature or are redeemed,<br />converted or exchanged. Warrants and similar rights are privileges issued by<br />corporations enabling the owners to subscribe to and purchase a specified number<br />of shares of the corporation at a specified price during a specified period of<br />time. The Fund normally invests at least 80% of its assets in equity securities<br />as described above.<br /> <br />How does the Fund choose securities in which to invest? In selecting securities<br />for the Fund, Scout Investments, Inc. (the "Advisor") first applies a "top-down"<br />approach, looking at the economic, political and market conditions of the<br />various countries in which the Fund may invest. Securities are also selected<br />based on the Advisor's opinion as to which economic sectors have the best<br />prospects in view of prevailing global, domestic and local economic conditions.<br />The Fund then primarily invests in securities of seasoned companies that are<br />known for the quality and acceptance of their products or services and for their<br />ability to generate profits and in many cases pay dividends. Seasoned companies<br />are considered to be companies that have been in existence for at least three<br />years.<br /> <br />Among the fundamental macroeconomic factors the Advisor considers are geopolitical <br />issues and macroeconomic issues specific to regions or nations. The Advisor also <br />considers certain fundamental factors that are company-specific, including cash <br />flow, financial strength, profitability and potential or actual catalysts that <br />could positively impact share prices. In addition, the Advisor will take country <br />specific accounting systems and legal issues into consideration, as well as <br />whether more than 50% of the company's assets, personnel, sales or earnings are <br />located outside the United States and therefore whether the company's primary <br />business is carried on outside the United States.<br /> <br />The Advisor believes that the intrinsic worth and consequent value of the stock<br />of most well-managed and successful companies does not usually change rapidly,<br />even though wide variations in the price may occur. Accordingly, long-term<br />positions in stocks will normally be taken and maintained while the companies'<br />record and prospects continue to meet with the Advisor's approval.<br /><br />The Fund intends to diversify investments among industries and among a number <br />of countries throughout the world. In addition, the Fund may invest a substantial<br />portion of its assets (more than 25%) in one or more countries if economic and<br />business conditions warrant such investment. The Fund will invest no more than<br />20% of its net assets in investments in developing countries or emerging<br />markets.<br /> <br />If the Advisor believes negative economic or market conditions make it more<br />difficult to achieve growth of capital, the Fund may seek to earn income by<br />investing a higher percentage of its assets in dividend-paying stocks. The <br />Fund may also invest a portion of its net assets (up to 20%) in high-grade <br />fixed income securities or other investments that may provide income, <br />including cash and money market securities. In such cases, the Fund will <br />resume investing primarily in equity securities when conditions warrant.<br /> <br />The Fund intends to hold some cash, short-term debt obligations, government<br />securities or other high-quality investments for reserves to cover redemptions<br />and unanticipated expenses. There may be times, however, when the Fund attempts<br />to respond to adverse market, economic, political or other conditions by investing <br />a higher percentage of its assets in cash or in those types of money market <br />investments for temporary defensive purposes. During those times, the Fund may <br />not be able to pursue its investment objective and, instead, will focus on <br />preserving your investment.</tt> SCOUT INTERNATIONAL FUND SUMMARY "Total Annual Fund Operating Expenses" do not correlate to the ratio of expenses to average net assets for the most recent fiscal year in the Financial Highlights table in this Prospectus and in the Fund's most recent Annual Report because the latter reflects the operating expenses of the Fund and does not include "Acquired Fund Fees and Expenses." Example: After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Investment Objective Keep in mind that past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. As with any mutual fund, there is a risk that you could lose money by investing in the Fund. Main Risks Shareholder Fees (fees paid directly from your investment) The return after taxes on distributions and sale of Fund shares may be higher than the return before taxes because the calculation assumes that shareholders receive a tax benefit for capital losses incurred on the sale of their shares. 0.20 Actual after-tax returns depend on your individual tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Annual Total Return as of December 31 of Each Year Performance <tt>After-tax returns are calculated using the historical highest individual federal<br />marginal income tax rates and do not reflect the impact of state and local taxes. <br />Actual after-tax returns depend on your individual tax situation and may differ <br />from those shown. After-tax returns shown are not relevant to investors who hold <br />their Fund shares through tax-deferred arrangements, such as 401(k) plans or <br />individual retirement accounts. The return after taxes on distributions and sale <br />of Fund shares may be higher than the return before taxes because the calculation <br />assumes that shareholders receive a tax benefit for capital losses incurred on the <br />sale of their shares.</tt> The bar chart and table that follow provide an indication of the risks of investing in the Fund. <tt>During the periods shown in the bar chart above the Fund's highest quarterly<br />return was 21.57% (quarter ended September 30, 2009) and the Fund's lowest<br />quarterly return was -20.84% (quarter ended September 30, 2011). <br /><br />Year-to-date return (through September 30, 2012): 13.24%</tt> 1-800-996-2862 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Average Annual Total Return as of December 31, 2011 Portfolio Turnover <tt>As with any mutual fund, there is a risk that you could lose money by investing<br />in the Fund. The shares offered by this Prospectus are not deposits or obligations <br />of, nor guaranteed by, UMB Bank, n.a. ("UMB") or any other banking institution. <br />They are not federally insured by the Federal Deposit Insurance Corporation or <br />any other United States government agency. These shares involve investment risks, <br />including the possible loss of the principal invested.<br /> <br />Market Risks: The Fund normally invests in equity securities. Equity securities<br />are subject to market, economic and business risks that will cause their prices<br />to fluctuate over time, sometimes rapidly and unpredictably. When the value of<br />the Fund's equity securities goes down, your investment in the Fund decreases in<br />value. Different types of investments shift in and out of favor depending on<br />market and economic conditions that may affect individual companies or industries, <br />or the securities market as a whole. At various times, stocks will be more or <br />less favorable than bonds, and small company stocks will be more or less favorable <br />than large company stocks. U.S. and international equity markets have experienced <br />volatility in recent years in response to economic and market conditions. During <br />a general downturn in the economy and securities markets, multiple asset classes <br />may be negatively affected. Because of this, the Fund will perform better or worse <br />than other types of funds depending on what is in favor, and the value of the Fund <br />may go down.<br /> <br />International Investing Risks: International investing poses additional risks.<br />If a security owned by the Fund is denominated in a foreign currency, the value<br />of the foreign currency may fluctuate relative to the United States dollar and<br />cause a loss to the Fund. International markets may be subject to political<br />instability, which may make foreign investments more volatile than investments in <br />domestic markets. International markets are not always as liquid as in the United <br />States, sometimes making it harder to sell a security. In addition, foreign <br />companies may not be subject to comparable accounting, auditing and financial <br />reporting standards as United States companies, and therefore, information about <br />the foreign companies may not be readily available.<br /> <br />To the extent the Fund invests a significant portion of its assets in a single<br />country or region, the Fund may be subject to increased risk associated with the<br />country or region. The risks of investing in foreign securities may be increased<br />if the investments are located in developing countries or emerging markets. <br />Security prices in emerging markets can be significantly more volatile than those <br />in more developed markets, reflecting the greater uncertainties of investing in <br />less established markets and economies. These risks are inherently passed on to <br />the company's shareholders, including the Fund, and in turn, to the Fund's <br />shareholders.<br />&#xA0;&#xA0;<br />As markets become more globalized, many U.S. companies are increasing international <br />business operations and are subject to international investing risks. Funds that <br />invest in larger U.S. companies are subject to some degree of international risk <br />as a result of these holdings and, to a lesser degree, as a result of owning direct <br />or indirect interests in foreign companies (typically large multi-national companies).<br /> <br />Management Risks: The Fund is subject to management risk as an actively managed<br />investment portfolio and depends on the decisions of the portfolio managers to<br />produce the desired results.</tt> Fees and Expenses Principal Investment Strategies www.scoutfunds.com <tt>The bar chart and table that follow provide an indication of the risks <br />of investing in the Fund. The bar chart shows how the Fund's returns have <br />changed from year to year. The table shows how the Fund's average annual <br />returns for 1, 5 and 10 year periods compare with those of a broad market <br />benchmark index, as well as an index of mutual funds with similar investment <br />objectives. Keep in mind that past performance (before and after taxes) <br />is not necessarily an indication of how the Fund will perform in the <br />future. Updated performance information is available at no cost by <br />visiting www.scoutfunds.com or by calling 1-800-996-2862.</tt> <tt>The following tables describe the fees and expenses that you may pay if you buy<br />and hold shares of the Fund.</tt> <div style="display:none">~ http://www.scoutfunds.com/role/OperatingExpensesData_S000007705Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.scoutfunds.com/role/PerformanceTableData_S000007705Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> The shares offered by this Prospectus are not deposits or obligations of, nor guaranteed by, UMB Bank, n.a. ("UMB") or any other banking institution. They are not federally insured by the Federal Deposit Insurance Corporation or any other United States government agency. <div style="display:none">~ http://www.scoutfunds.com/role/ShareholderFeesData_S000007705Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> Lipper International Large-Cap Growth Funds Index (reflects no deduction for fees, expenses or taxes) -0.1193 -0.0296 0.0360 MSCI EAFE Index-U.S. Dollars (net) (reflects no deduction for fees, expenses or taxes) -0.1214 -0.0472 0.0467 Return After Taxes on Distributions and Sale of Fund Shares -0.0759 -0.0027 0.0581 Return After Taxes on Distributions -0.1237 -0.0070 0.0625 UMBWX -0.1585 0 lowest quarterly return highest quarterly return 0.00 2012-09-30 0 Return Before Taxes 102 2009-09-30 318 -0.2084 0.1802 0.1317 1225 552 0.1780 0.2157 -0.1235 0.0028 -0.3806 0.0071 2011-09-30 0.3554 -0.0038 0.1958 Year-to-date return -0.1235 0.00 0.3310 0.00 0.0654 0.0100 0.2151 0.1324 0.0001 0.00 0001105128 ck0001105128:SummaryS000007705Memberck0001105128:S000007705Memberck0001105128:C000020955Member 2012-10-31 2012-10-31 0001105128 ck0001105128:SummaryS000007705Memberck0001105128:S000007705Memberrr:AfterTaxesOnDistributionsMemberck0001105128:C000020955Member 2012-10-31 2012-10-31 0001105128 ck0001105128:SummaryS000007705Memberck0001105128:S000007705Memberrr:AfterTaxesOnDistributionsAndSalesMemberck0001105128:C000020955Member 2012-10-31 2012-10-31 0001105128 ck0001105128:SummaryS000007705Memberck0001105128:S000007705Memberck0001105128:RRINDEX00001Member 2012-10-31 2012-10-31 0001105128 ck0001105128:SummaryS000007705Memberck0001105128:S000007705Memberck0001105128:RRINDEX00002Member 2012-10-31 2012-10-31 0001105128 ck0001105128:SummaryS000007705Memberck0001105128:S000007705Member 2012-10-31 2012-10-31 0001105128 ck0001105128:SummaryS000020387Memberck0001105128:S000020387Memberck0001105128:C000057198Member 2012-10-31 2012-10-31 0001105128 ck0001105128:SummaryS000020387Memberck0001105128:S000020387Memberrr:AfterTaxesOnDistributionsMemberck0001105128:C000057198Member 2012-10-31 2012-10-31 0001105128 ck0001105128:SummaryS000020387Memberck0001105128:S000020387Memberrr:AfterTaxesOnDistributionsAndSalesMemberck0001105128:C000057198Member 2012-10-31 2012-10-31 0001105128 ck0001105128:SummaryS000020387Memberck0001105128:S000020387Memberck0001105128:RRINDEX00003Member 2012-10-31 2012-10-31 0001105128 ck0001105128:SummaryS000020387Memberck0001105128:S000020387Memberck0001105128:RRINDEX00004Member 2012-10-31 2012-10-31 0001105128 ck0001105128:SummaryS000020387Memberck0001105128:S000020387Member 2012-10-31 2012-10-31 0001105128 2012-10-31 2012-10-31 pure iso4217:USD "Total Annual Fund Operating Expenses" do not correlate to the ratio of expenses to average net assets for the most recent fiscal year in the Financial Highlights table in this Prospectus and in the Fund's most recent Annual Report because the latter reflects the operating expenses of the Fund and does not include "Acquired Fund Fees and Expenses." "Other Expenses" include "Acquired Fund Fees and Expenses," which were less than 0.01% of the average net assets of the Fund. Scout Investments, Inc. (the "Advisor") has entered into an agreement to waive advisory fees and/or assume certain fund expenses through October 31, 2013 in order to limit the "Total Annual Fund Operating Expenses" (excluding any acquired fund fees and expenses, taxes, interest, brokerage fees and non-routine 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 assumed during the three years following the end of the fiscal year in which the Advisor waived fees or assumed expenses for the Fund. This expense limitation agreement may not be terminated prior to October 31, 2013 unless the Fund's Board of Trustees (the "Board") consents to an earlier revision or termination as being in the best interests of the Fund.