Mr. Greiner: UMB Investment Advisors is a division of UMB Bank, which is a division of UMB Financial Corporation. UMB Financial Corporation is a publicly traded company with the ticker symbol UMBF. We are headquartered in Kansas City, Missouri. The bank has 8 billion in footings. The Asset Management group currently manages 9.5 billion and it is split pretty evenly between equity assets and fixed income assets for a variety of clients. Our clients include high net worth individuals and institutional relationships, and we also manage a full family of publicly traded mutual funds.
TWST: How would you describe your investment style? What type of capitalization
are you looking for in companies?
Mr. Greiner: We have a wide variety of capitalizations that we look at within
our investment style. On the equity side of the equation, our investment style
is quality-biased in nature. We offer large cap core strategies, mid-cap core
strategies and small cap core strategies. We also offer significant exposure for
our clients in international equity markets primarily through the utilization of
two mutual funds that we manage, the Scout International Fund (UMBWX) and the
Scout Discovery Fund (UMBDX). Our style of equity management focuses on
historical data from the last three to five years, attempting to find companies
that we feel show a very strong balance sheet combined with sustainable profit
growth or cash flow growth, looking at both the cash flow statements and income
statements. We then use our in-house research capabilities. We currently have 14
analysts on staff who look at these companies and decide which company going
forward will be able to maintain the trends we've seen over the last three to
five years as far as having a quality balance sheet and strong income statement
characteristics. So we are fundamental in nature, we are quality buyers and we
tend to have a growth bias, but most consultants consider us a core manager.
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