UMB Financial Corporation Surpasses $10 Billion in Mutual Fund and Trust Assets under Management
January 19 2007 - 9:04AM
Business Wire
UMB Financial Corporation (NASDAQ: UMBF) is pleased to announce
that the company has surpassed $10 billion in mutual fund and trust
assets under management. Assets have increased 48.0 percent from
$6.9 billion since June 30, 2004 following the sale of the
company�s employee benefits division. UMB has sustained
double-digit growth in assets under management with a compounded
annual growth rate of 17.0 percent, or $3.3 billion since June 30,
2004. �Growth in total assets under management is a key measure of
success in the overall growth strategies of this company," said
Mariner Kemper, Chairman and CEO, UMB Financial Corporation. �We�re
continuing to execute against our strategy by taking a team
approach to managing assets and building out our product offering.�
Leading this growth was the UMB Scout Fund family, which in two and
one-half years more than doubled its net assets to $5.0 billion, an
increase of 230 percent. Comprising approximately half the assets
under management for UMB, the fund family now includes five equity
funds, one fixed income fund and three money market funds. As part
of the growth strategy, the UMB Scout Funds launched a new Mid Cap
Fund (UMBMX) in October 2006. The Fund follows an investment
objective based on long-term growth of capital through an
investment style focused on mid capitalization companies. Shares of
the Fund are available for purchase directly or through various
mutual fund supermarkets. UMB Financial Corporation is a multi-bank
holding company headquartered in Kansas City, Mo., offering
complete banking, asset management and related financial services
to both individual and business customers. Its banking subsidiaries
own and operate 139 banking centers throughout Missouri, Illinois,
Colorado, Kansas, Oklahoma, Nebraska and Arizona. Subsidiaries of
the holding company and the lead bank, UMB Bank, n.a., include an
investment services group based in Milwaukee, Wisconsin, a trust
management company in South Dakota, and single-purpose companies
that deal with brokerage services, consulting services and
insurance. 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 click on prospectus. Please read the
prospectus carefully before investing. The UMB Scout Funds are
distributed by UMB Distribution Services, LLC, Milwaukee, Wis., an
affiliate of UMB Financial Corporation, and managed by Scout
Investment Advisors, Inc., a subsidiary of UMB Bank n.a. � NOT FDIC
INSURED � MAY LOSE VALUE � NO BANK GUARANTEE
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