Government & Corporate Bond Funds

Nations Funds
Notes to financial statements (continued) (unaudited)
Unrealized
Value of contract Market value appreciation/
Number of when opened of Contracts (depreciation)
Description contracts (000) (000) (000)
Abbey National plc Universal Stock Share Futures (long position)
expiring December 2002(a) ******************************* 7 $ 795 $ 800 $ 5
Antenna Hungaria Share Future (long position) expiring
December 2002(a)*************************************** 4 851 860 9
U.S. 20 year Treasury Bond Futures (long position) expiring
December 2002(a)*************************************** 22 2,456 2,514 58
90 Day Euro Futures (short position) expiring June 2003(a)******* (41) (10,030) (10,079) (49)
90 Day Euro Futures (short position) expiring September 2003(a)** (21) (5,118) (5,146) (28)
Total net unrealized appreciation *************************** $ 49
(a) Securities have been segregated as collateral for the Fund’s open futures contracts.
6. Written options
Written options for the Bond Fund for the six months ended September 30, 2002 aggregated the following:
Premium
Number of received
Summary of written options Contracts (000)
Outstanding at March 31, 2002 ********************************* — $ —
Contracts opened ********************************************* 30 (639)
Contracts closed********************************************** — 0
Outstanding at September 30, 2002 ****************************** 30 $(639)
7. Forward foreign currency contracts
At September 30, 2002, Bond Fund had the following forward foreign currency contracts outstanding:
Unrealized
Value of contract Value of contract appreciation/
when opened when opened Market value of (depreciation)
Local (local currency) (US dollars) contract (US dollars) (US dollars)
Description currency (000) (000) (000) (000)
Bond:
Contracts to Buy:
Expiring December 19, 2002 ***** Australian Dollar 23,000 $ 12,230 $ 12,412 $ 182
Expiring October 11, 2002 ******* British Pound Sterling 3,000 4,255 4,715 460
Expiring October 11, 2002 ******* British Pound Sterling 10,000 14,181 15,716 1,535
Expiring October 11, 2002 ******* British Pound Sterling 4,000 5,669 6,286 617
Expiring October 11, 2002 ******* British Pound Sterling 500 709 786 77
Expiring December 18, 2002 ***** British Pound Sterling 16,900 24,671 26,454 1,783
Expiring December 19, 2002 ***** British Pound Sterling 16,300 24,160 25,515 1,355
Expiring December 19, 2002 ***** British Pound Sterling 16,800 24,901 26,298 1,397
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