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Government & Corporate Bond Funds

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Nations <strong>Funds</strong><br />

Statements of changes in net assets (continued)<br />

<strong>Bond</strong> Strategic Income High Yield <strong>Bond</strong><br />

Six months Six months Six months<br />

ended ended ended<br />

9/30/02 Year ended 9/30/02 Year ended 9/30/02 Year ended<br />

(unaudited) 3/31/02 (unaudited) 3/31/02 (unaudited) 3/31/02<br />

$ 51,468 $ 129,695 $ 5,219 $ 12,370 $ 16,112 $ 17,047<br />

33,865 39,831 1,420 1,738 — —<br />

— — — — (1,646) 1,213<br />

62,798 (66,547) (2,551) (7,783) — —<br />

— — — — (51,594) (6,728)<br />

148,131 102,979 4,088 6,325 (37,128) 11,532<br />

(50,080) (128,531) (3,612) (9,041) (9,717) (11,689)<br />

— — — — — —<br />

(845) (2,500) (658) (1,597) (1,775) (1,624)<br />

(296) (530) (898) (2,460) (2,886) (3,444)<br />

(39) (80) (51) (86) (715) (556)<br />

(1,514) — — — — (650)<br />

— — — — — —<br />

(26) — — — — (97)<br />

(12) — — — — (233)<br />

(2) — — — — (39)<br />

322,528 (23,763) (7,790) (34,115) 101,549 219,000<br />

417,845 (52,425) (8,921) (40,974) 49,328 212,200<br />

2,316,813 2,369,238 217,783 258,757 305,722 93,522<br />

$ 2,734,658 $ 2,316,813 $ 208,862 $ 217,783 $ 355,050 $ 305,722<br />

$ 2,766 $ 2,558 $ 421 $ 421 $ 762 $ (257)<br />

See notes to financial statements.<br />

37

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