Scout Investment Advisors, Inc. Repositioned as UMB Financial Corporation Subsidiary
June 01 2009 - 10:34AM
Business Wire
UMB Financial Corporation (NASDAQ: UMBF) announced today that it
is restructuring its asset management business which manages and
distributes investment services to the institutional market. This
move repositions Scout Investment Advisors, Inc. (SIA), as a
subsidiary of the holding company rather than UMB Bank, n.a., and
also creates a new subsidiary Scout Distributors, LLC to market and
sell the services. The change is effective June 30, 2009.
This strategic transition further establishes UMB Financial
Corporation as a sound and fully integrated financial services
holding company. With this change, Scout Investment Advisors, Inc.
will continue to manage the UMB Scout Funds and will take over
management of all institutional separately managed accounts and
specific large individual separately managed accounts currently
overseen by UMB Bank. Additionally, the UMB Scout Mutual Fund
family will now be known as �Scout Funds,� (removing �UMB�) but
will maintain their current ticker symbols.
�The restructuring of our Scout Investment Advisors subsidiary
and creation of a distribution arm subsidiary emphasizes our
commitment to exceptional and focused asset management,� said Clyde
Wendel, chairman and CEO, Scout Investment Advisors, Inc. and
president, UMB Asset Management. �The SIA team will continue to
meet the needs of our mutual fund and institutional clients with
the same time-tested investment and management strategies. We
believe this change will allow us to become more competitive and
expand opportunities in the marketplace.�
Scout Investment Advisors, Inc. is a responsible investment
organization established to generate long-term results by providing
money management solutions. The firm�s high-touch management
philosophy utilizes each fund manager�s unique skills and expertise
while implementing an investment process to deliver strong
performance in varying market conditions.
�This strategic move allows us to attract and retain the best
and the brightest while continuing to bring high quality
institutional investment products to the marketplace,� said Gary
DiCenzo, president and CEO, Scout Distributors, LLC.
Additional information is available at the new Scout Investment
Advisors� Web site at scout-ia.com.
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, 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.
NOT FDIC INSURED / NO BANK GUARANTEE / MAY LOSE VALUE
About UMB:
UMB Financial Corporation (NASDAQ: UMBF) is a financial services
holding company headquartered in Kansas City, Missouri, offering
complete banking, asset management, health spending solutions and
related financial services to both individual and business
customers nationwide. Its banking subsidiaries own and operate 138
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 a fund services group
based in Milwaukee, Wisconsin, single-purpose companies that deal
with brokerage services and insurance, and a registered investment
advisor that manages the company�s proprietary mutual funds.
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