<PAGE> 1
'99
Nationwide(R) Variable Account - 9
December 31, 1999
[logo] The BEST of AMERICA(R)
America's FUTURE Annuity(SM)
ANNUAL REPORT
- --------------------------------------------------------------------------------
[logo Nationwide(R)]
Nationwide Life Insurance Company
Home Office: Columbus, Ohio
APO-3604-D (12/99)
<PAGE> 2
[logo Nationwide(R)]
NATIONWIDE LIFE INSURANCE COMPANY
ONE NATIONWIDE PLAZA, COLUMBUS, OHIO 43215-2220
[Picture of President Joseph J. Gasper]
PRESIDENT'S MESSAGE
We at Nationwide Life Insurance Company are pleased to bring you
the 1999 annual report of the Nationwide Variable Account-9.
During 1999 equity investments extended their spirited advance
to a fifth consecutive year. The S&P 500 was the laggard of the
major indices with a year-over-year change of a respectable
19.53%. The NASDAQ topped the list at over 85% with the other
indices falling into line nearer the lower end of the range.
Fixed earnings investments did not fare as well in the current
environment of rising interest rates.
The U.S. economy remains strong, inflation remains docile and
the available labor pool is incessantly tight. Against this
good-news-bad-news backdrop, the Federal Reserve is increasingly
concerned that recent productivity gains will subside and ignite
wage inflation. To date, the Fed has hiked short-term interest
rates a quarter percentage point on four occasions since last
June. Prospectively, they may well become more aggressive in
their preemptive efforts to dampen economic growth and avoid a
new round of inflation.
We believe some caution may be warranted at this juncture.
Certain market sectors are well extended and may inevitably
retreat to less lofty valuation levels. However, we remain
bullish for the long-term prospects of financial assets. Your
variable insurance contract provides an excellent resource to
help you achieve your long-term retirement savings and financial
planning objectives.
We appreciate your trust in our company and in our investment
products, and we welcome and encourage your feedback.
/s/ Joseph J. Gasper
Joseph J. Gasper, President
February 10, 2000
3
<PAGE> 3
NATIONWIDE VARIABLE ACCOUNT-9
STATEMENT OF ASSETS, LIABILITIES AND CONTRACT OWNERS' EQUITY
DECEMBER 31, 1999
<TABLE>
<CAPTION>
<S> <C>
ASSETS:
Investments at market value:
American Century VP - American Century VP Income & Growth (ACVPIncGr)
20,470,398 shares (cost $141,129,469) ........................................................... $ 163,763,182
American Century VP - American Century VP International (ACVPInt)
15,635,412 shares (cost $148,085,984) ........................................................... 195,442,653
American Century VP - American Century VP Value (ACVPValue)
6,446,407 shares (cost $41,615,144) ............................................................. 38,356,121
The Dreyfus Socially Responsible Growth Fund, Inc. (DrySRGro)
4,265,200 shares (cost $141,396,097) ............................................................ 166,641,352
Dreyfus Stock Index Fund (DryStkIx)
24,176,958 shares (cost $793,412,609) ........................................................... 929,604,033
Dreyfus VIF - Capital Appreciation Portfolio (DryCapAp)
4,147,534 shares (cost $150,423,775) ............................................................ 165,362,188
Dreyfus VIF - European Equities Fund (DryEuroEq)
133,706 shares (cost $1,933,535) ................................................................ 2,133,956
Federated Insurance Series: Federated Quality Bond Fund II (FedQualBd)
759,896 shares (cost $7,462,701) ................................................................ 7,446,981
Fidelity VIP - Equity-Income Portfolio - Service Class (FidVIPEIS)
14,110,995 shares (cost $352,931,972) ........................................................... 362,088,135
Fidelity VIP - Growth Portfolio - Service Class (FidVIPGrS)
11,101,677 shares (cost $493,273,277) ........................................................... 608,371,923
Fidelity VIP - High Income Portfolio - Service Class (FidVIPHIS)
17,406,110 shares (cost $194,757,686) ........................................................... 196,340,922
Fidelity VIP - Overseas Portfolio - Service Class (FidVIPOvS)
3,376,287 shares (cost $81,315,398) ............................................................. 92,442,726
Fidelity VIP-II - Contrafund Portfolio - Service Class (FidVIPConS)
14,598,621 shares (cost $348,059,935) ........................................................... 424,819,872
Fidelity VIP-III - Growth Opportunities Portfolio - Service Class (FidVIPGrOpS)
8,997,661 shares (cost $195,437,600) ............................................................ 208,025,933
Morgan Stanley - Emerging Markets Debt Portfolio (MSEmMkt)
971,414 shares (cost $6,883,230) ................................................................ 6,712,471
Nationwide SAT - Balanced Fund (NSATBal)
7,167,334 shares (cost $75,886,829) ............................................................. 73,895,215
Nationwide SAT - Capital Appreciation Fund (NSATCapAp)
13,299,689 shares (cost $344,987,726) ........................................................... 341,934,999
Nationwide SAT - Equity Income Fund (NSATEqInc)
1,987,264 shares (cost $22,714,475) ............................................................. 26,887,677
Nationwide SAT - Global Equity Fund (NSATGlobEq)
2,671,214 shares (cost $31,808,533) ............................................................. 37,103,163
Nationwide SAT - Government Bond Fund (NSATGvtBd)
22,403,002 shares (cost $256,706,042) ........................................................... 241,728,393
Nationwide SAT - High Income Bond Fund (NSATHIncBd)
5,245,585 shares (cost $52,509,200) ............................................................. 49,937,971
Nationwide SAT - Money Market Fund (NSATMyMkt)
409,469,490 shares (cost $490,469,490) .......................................................... 409,469,490
Nationwide SAT - Multi Sector Bond Fund (NSATMSecBd)
6,330,981 shares (cost $61,931,231) ............................................................. 59,321,292
</TABLE>
4
<PAGE> 4
<TABLE>
<CAPTION>
<S> <C>
Nationwide SAT - Select Advisers Mid Cap Fund (NSATMidCap)
1,196,560 shares (cost $13,198,495) ............................................................. 14,741,624
Nationwide SAT - Select Advisors Small Cap Growth Fund (NSATSmCapG)
723,847 shares (cost $10,978,328) ............................................................... 14,252,550
Nationwide SAT - Small Cap Value Fund (NSATSmCapV)
7,095,348 shares (cost $71,255,676) ............................................................. 68,966,784
Nationwide SAT - Small Company Fund (NSATSmCo)
4,613,567 shares (cost $85,795,793) ............................................................. 102,052,097
Nationwide SAT - Strategic Growth Fund (NSATStrGro)
4,272,208 shares (cost $67,679,805) ............................................................. 87,323,924
Nationwide SAT - Strategic Value Fund (NSATStrVal)
1,517,643 shares (cost $14,938,847) ............................................................. 14,281,023
Nationwide SAT - Total Return Fund (NSATTotRe)
27,127,557 shares (cost $503,344,518) ........................................................... 510,269,350
Neuberger & Berman AMT - Guardian Portfolio (NBAMTGuard)
4,088,163 shares (cost $58,592,261) ............................................................. 64,797,389
Neuberger & Berman AMT - Mid-Cap Growth Portfolio (NBAMTMCGr)
4,283,319 shares (cost $69,927,580) ............................................................. 104,084,651
Neuberger & Berman AMT - Partners Portfolio (NBAMTPart)
6,496,851 shares (cost $124,991,275) ............................................................ 127,598,157
Oppenheimer VAF - Aggressive Growth Fund (OppAggGro)
1,789,956 shares (cost $109,187,224) ............................................................ 147,331,319
Oppenheimer VAF - Capital Appreciation Fund (OppCapAp)
3,467,910 shares (cost $131,621,275) ............................................................ 172,840,639
Oppenheimer VAF - Main Street Growth & Income Fund (OppGrInc)
5,749,471 shares (cost $125,186,474) ............................................................ 141,609,480
Van Eck WIT - Worldwide Emerging Markets Fund (VEWrldEMkt)
2,431,635 shares (cost $28,640,364) ............................................................. 34,675,121
Van Eck WIT - Worldwide Hard Assets Fund (VEWrldHAs)
618,705 shares (cost $6,514,021) ................................................................ 6,781,006
Van Kampen LIT - Morgan Stanley Real Estate Securities Portfolio (VKMSRESec)
1,709,941 shares (cost $23,106,619) ............................................................. 21,151,964
Victory VIF - Diversified Stock Fund - Class A (VVIFDStk)
397,644 shares (cost $3,840,250) ................................................................ 4,004,273
Victory VIF - Investment Quality Bond Fund - Class A (VVIFIQBd)
176,741 shares (cost $1,764,492) ................................................................ 1,732,060
Victory VIF - Small Company Opportunity Fund - Class A (VVIFSmCoOpp)
138,498 shares (cost $1,359,342) ................................................................ 1,371,129
Warburg Pincus Trust - Growth & Income Portfolio (WPGrInc)
1,549,407 shares (cost $18,232,245) ............................................................. 18,422,453
Warburg Pincus Trust - International Equity Portfolio (WPIntEq)
2,535,079 shares (cost $38,270,810) ............................................................. 42,335,823
Warburg Pincus Trust - Post Venture Capital Portfolio (WPPVenCap)
1,121,991 shares (cost $16,592,355) ............................................................. 21,609,550
---------------
Total investments ............................................................................ 6,530,063,014
Accounts receivable .................................................................................. 103,046
---------------
Total assets ................................................................................ 6,530,166,060
Accounts payable ........................................................................................ -
---------------
Contract owners' equity (note 4) ........................................................................ $ 6,530,166,060
===============
</TABLE>
See accompanying notes to financial statements.
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5
<PAGE> 5
NATIONWIDE VARIABLE ACCOUNT-9
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY
STATEMENTS OF OPERATIONS
YEARS ENDED DECEMBER 31, 1999 AND 1998
<TABLE>
<CAPTION>
Total ACVPincGr ACVPint
------------------------------ ------------------------------ --------------
1999 1998 1999 1998 1999
-------------- -------------- -------------- -------------- --------------
<S> <C> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. $ 67,063,331 20,037,926 13,740 220,567 -
Mortality and expense risk charges
(note 2)............................. (42,760,043) (12,179,624) (1,027,835) (182,750) (948,065)
-------------- -------------- -------------- -------------- -------------
Net investment activity.............. 24,303,288 7,858,302 (1,014,095) 37,817 (948,065)
-------------- -------------- -------------- -------------- -------------
Proceeds from mutual fund shares sold.. 2,014,782,794 147,138,081 5,909,912 299,469 178,233,023
Cost of mutual fund shares sold........ (1,929,367,144) (151,277,931) (4,451,364) (260,801) (156,687,528)
-------------- -------------- -------------- -------------- -------------
Realized gain (loss) on investments.. 85,415,650 (4,139,850) 1,458,548 38,668 21,545,495
Change in unrealized gain (loss)
on investments....................... 529,140,404 121,513,304 18,056,144 4,570,573 46,969,672
-------------- -------------- -------------- -------------- -------------
Net gain (loss) on investments....... 614,556,054 117,373,454 19,514,692 4,609,241 68,515,167
-------------- -------------- -------------- -------------- -------------
Reinvested capital gains............... 115,192,705 27,066,537 - 9,256 -
-------------- -------------- -------------- -------------- -------------
Net increase (decrease) in contract
owners' equity resulting from
operations....................... 754,052,047 152,298,293 18,500,597 4,656,314 67,567,102
-------------- -------------- -------------- -------------- -------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 3,413,685,206 2,421,579,829 95,493,563 34,231,141 64,810,675
Transfers between funds................ - - 7,831,668 7,880,597 13,920,028
Redemptions............................ (221,905,485) (66,628,531) (4,154,414) (1,021,174) (3,040,821)
Annuity benefits ...................... (1,253) - - - -
Contingent deferred sales charges
(note 2)............................. (4,399,205) (676,512) (78,156) (7,094) (57,293)
Adjustments to maintain reserves....... (62,185) 38,184 (3,119) (27,089) 3,134
-------------- -------------- -------------- -------------- -------------
Net equity transactions............ 3,187,317,078 2,354,312,970 99,089,542 41,056,381 75,635,723
-------------- -------------- -------------- -------------- -------------
NET CHANGE IN CONTRACT OWNERS' EQUITY.... 3,941,369,125 2,506,611,263 117,590,139 45,712,695 143,202,825
CONTRACT OWNERS' EQUITY BEGINNING
OF PERIOD.............................. 2,588,796,935 82,185,672 46,170,274 457,579 52,242,163
-------------- -------------- -------------- -------------- -------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... $6,530,166,060 2,588,796,935 163,760,413 46,170,274 195,444,988
============== ============== ============== ============== =============
</TABLE>
<TABLE>
<CAPTION>
ACVPint ACVPValue
-------------- -------------------------------
1998 1999 1998
-------------- -------------- --------------
<S> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. 26,394 227,207 28,096
Mortality and expense risk charges
(note 2)............................. (224,953) (304,797) (121,549)
-------------- -------------- --------------
Net investment activity.............. (198,559) (77,590) (93,453)
-------------- -------------- --------------
Proceeds from mutual fund shares sold.. 2,580,905 8,457,761 1,595,103
Cost of mutual fund shares sold........ (2,610,970) (9,146,919) (1,678,560)
-------------- -------------- --------------
Realized gain (loss) on investments.. (30,065) (689,158) (83,457)
Change in unrealized gain (loss)
on investments....................... 379,163 (3,132,639) (147,770)
-------------- -------------- --------------
Net gain (loss) on investments....... 349,098 (3,821,797) (231,227)
-------------- -------------- --------------
Reinvested capital gains............... 270,951 2,152,580 335,441
-------------- -------------- --------------
Net increase (decrease) in contract
owners' equity resulting from
operations....................... 421,490 (1,746,807) 10,761
-------------- -------------- --------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 39,680,086 20,132,932 19,091,612
Transfers between funds................ 12,597,519 (324,126) 1,715,026
Redemptions............................ (1,031,134) (1,325,735) (518,275)
Annuity benefits ...................... - - -
Contingent deferred sales charges
(note 2)............................. (7,206) (31,100) (7,315)
Adjustments to maintain reserves....... 31,510 (221) (218)
-------------- -------------- --------------
Net equity transactions............ 51,270,775 18,451,750 20,280,830
-------------- -------------- --------------
NET CHANGE IN CONTRACT OWNERS' EQUITY.... 51,692,265 16,704,943 20,291,591
CONTRACT OWNERS' EQUITY BEGINNING
OF PERIOD.............................. 549,898 21,650,989 1,359,398
-------------- -------------- --------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... 52,242,163 38,355,932 21,650,989
============== ============== ==============
</TABLE>
6
<PAGE> 6
NATIONWIDE VARIABLE ACCOUNT-9
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
STATEMENTS OF OPERATIONS, CONTINUED
YEARS ENDED DECEMBER 31, 1999 AND 1998
<TABLE>
<CAPTION>
DrySRGro DryStkix DryCapAp
------------------------------ ------------------------------ -------------
1999 1998 1999 1998 1999
-------------- -------------- -------------- -------------- -------------
<S> <C> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. $ 20,454 60,373 7,074,947 2,203,648 913,606
Mortality and expense risk charges
(note 2)............................. (874,709) (164,380) (5,915,703) (1,335,082) (1,156,439)
-------------- -------------- -------------- -------------- -------------
Net investment activity.............. (854,255) (104,007) 1,159,244 868,566 (242,833)
-------------- -------------- -------------- -------------- -------------
Proceeds from mutual fund shares sold.. 2,652,981 777,497 8,929,302 3,532,880 8,292,952
Cost of mutual fund shares sold........ (1,915,818) (725,553) (6,410,442) (3,554,666) (6,884,964)
-------------- -------------- -------------- -------------- -------------
Realized gain (loss) on investments.. 737,163 51,944 2,518,860 (21,786) 1,407,988
Change in unrealized gain (loss)
on investments....................... 21,902,824 3,346,139 103,762,225 32,439,748 9,643,177
-------------- -------------- -------------- -------------- -------------
Net gain (loss) on investments....... 22,639,987 3,398,083 106,281,085 32,417,962 11,051,165
-------------- -------------- -------------- -------------- -------------
Reinvested capital gains............... 5,506,089 1,392,227 6,286,659 435,046 612,835
-------------- -------------- -------------- -------------- -------------
Net increase (decrease) in contract
owners' equity resulting from
operations....................... 27,291,821 4,686,303 113,726,988 33,721,574 11,421,167
-------------- -------------- -------------- -------------- -------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 88,613,989 29,765,433 474,442,086 242,868,858 101,641,759
Transfers between funds................ 15,489,812 4,305,104 54,840,182 34,854,129 (277,522)
Redemptions............................ (3,496,257) (803,449) (24,356,262) (6,057,535) (4,721,764)
Annuity benefits ...................... - - - - -
Contingent deferred sales charges
(note 2)............................. (62,705) (4,582) (501,167) (83,383) (112,549)
Adjustments to maintain reserves....... (233) 66 827 30,385 (1,052)
-------------- -------------- -------------- -------------- -------------
Net equity transactions............ 100,544,606 33,262,572 504,425,666 271,612,454 96,528,872
-------------- -------------- -------------- -------------- -------------
NET CHANGE IN CONTRACT OWNERS' EQUITY.... 127,836,427 37,948,875 618,152,654 305,334,028 107,950,039
CONTRACT OWNERS' EQUITY BEGINNING
OF PERIOD.............................. 38,805,599 856,724 311,454,663 6,120,635 57,411,990
-------------- -------------- -------------- -------------- -------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... $ 166,642,026 38,805,599 929,607,317 311,454,663 165,362,029
============== ============== ============== ============== =============
</TABLE>
<TABLE>
<CAPTION>
DryCapAp DryEuroEq
-------------- ------------------------------
1998 1999 1998
-------------- -------------- --------------
<S> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. 296,317 4,319 -
Mortality and expense risk charges
(note 2)............................. (191,312) (2,462) -
-------------- -------------- --------------
Net investment activity.............. 105,005 1,857 -
-------------- -------------- --------------
Proceeds from mutual fund shares sold.. 692,754 654,656 -
Cost of mutual fund shares sold........ (632,372) (537,831) -
-------------- -------------- --------------
Realized gain (loss) on investments.. 60,382 116,825 -
Change in unrealized gain (loss)
on investments....................... 5,296,793 200,421 -
-------------- -------------- --------------
Net gain (loss) on investments....... 5,357,175 317,246 -
-------------- -------------- --------------
Reinvested capital gains............... 1,464 20,286 -
-------------- -------------- --------------
Net increase (decrease) in contract
owners' equity resulting from
operations....................... 5,463,644 339,389 -
-------------- -------------- --------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 37,281,447 526,129 -
Transfers between funds................ 14,756,161 1,278,795 -
Redemptions............................ (999,653) (10,356) -
Annuity benefits ...................... - - -
Contingent deferred sales charges
(note 2)............................. (11,014) - -
Adjustments to maintain reserves....... (10,617) (29) -
-------------- -------------- --------------
Net equity transactions............ 51,016,324 1,794,539 -
-------------- -------------- --------------
NET CHANGE IN CONTRACT OWNERS' EQUITY.... 56,479,968 2,133,928 -
CONTRACT OWNERS' EQUITY BEGINNING
OF PERIOD.............................. 932,022 - -
-------------- -------------- --------------
Contract owners' equity end of period.... 57,411,990 2,133,928 -
============== ============== ==============
</TABLE>
7
<PAGE> 7
NATIONWIDE VARIABLE ACCOUNT-9
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
STATEMENTS OF OPERATIONS, CONTINUED
YEARS ENDED DECEMBER 31, 1999 AND 1998
<TABLE>
<CAPTION>
FedQualBd FidVIPEIS FidVIPGrS
------------------------------ ------------------------------ --------------
1999 1998 1999 1998 1999
-------------- -------------- -------------- -------------- -------------
<S> <C> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. $ - - 3,121,196 217,564 246,130
Mortality and expense risk charges
(note 2)............................. (19,926) - (2,844,312) (991,992) (3,103,275)
-------------- -------------- -------------- -------------- -------------
Net investment activity.............. (19,926) - 276,884 (774,428) (2,857,145)
-------------- -------------- -------------- -------------- -------------
Proceeds from mutual fund shares sold.. 1,076,139 - 6,544,933 628,613 26,416,695
Cost of mutual fund shares sold........ (1,075,578) - (6,132,572) (599,673) (21,341,945)
-------------- -------------- -------------- -------------- -------------
Realized gain (loss) on investments.. 561 - 412,361 28,940 5,074,750
Change in unrealized gain (loss)
on investments....................... (15,720) - 1,517,647 7,558,663 98,493,324
-------------- -------------- -------------- -------------- -------------
Net gain (loss) on investments....... (15,159) - 1,930,008 7,587,603 103,568,074
-------------- -------------- -------------- -------------- -------------
Reinvested capital gains............... - - 6,899,485 774,271 15,475,451
-------------- -------------- -------------- -------------- -------------
Net increase (decrease) in contract
owners' equity resulting from
operations....................... (35,085) - 9,106,377 7,587,446 116,186,380
-------------- -------------- -------------- -------------- -------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 5,376,015 - 178,867,332 175,676,909 306,170,035
Transfers between funds................ 2,358,597 - (7,116,225) 13,491,409 96,715,312
Redemptions............................ (251,679) - (15,062,722) (5,441,684) (19,374,716)
Annuity benefits ...................... - - - - -
Contingent deferred sales charges
(note 2)............................. (1,674) - (279,245) (54,879) (654,127)
Adjustments to maintain reserves....... 757 - (3,780) (2,947) (12,461)
-------------- -------------- -------------- -------------- -------------
Net equity transactions............ 7,482,016 - 156,405,360 183,668,808 382,844,043
-------------- -------------- -------------- -------------- -------------
NET CHANGE IN CONTRACT OWNERS' EQUITY.... 7,446,931 - 165,511,737 191,256,254 499,030,423
CONTRACT OWNERS' EQUITY BEGINNING
OF PERIOD.............................. - - 196,573,059 5,316,805 109,329,873
-------------- -------------- -------------- -------------- -------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... $ 7,446,931 - 362,084,796 196,573,059 608,360,296
============== ============== ============== ============== =============
</TABLE>
<TABLE>
<CAPTION>
FidVIPGrS FidVIPHIS
-------------- ------------------------------
1998 1999 1998
-------------- -------------- --------------
<S> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. 27,645 9,984,261 609,157
Mortality and expense risk charges
(note 2)............................. (414,288) (1,459,555) (546,399)
-------------- -------------- --------------
Net investment activity.............. (386,643) 8,524,706 62,758
-------------- -------------- --------------
Proceeds from mutual fund shares sold.. 1,691,790 56,084,424 5,911,230
Cost of mutual fund shares sold........ (1,783,855) (63,235,509) (7,053,926)
-------------- -------------- --------------
Realized gain (loss) on investments.. (92,065) (7,151,085) (1,142,696)
Change in unrealized gain (loss)
on investments....................... 16,582,085 7,299,162 (5,732,014)
-------------- -------------- --------------
Net gain (loss) on investments....... 16,490,020 148,077 (6,874,710)
-------------- -------------- --------------
Reinvested capital gains............... 723,135 373,243 387,069
-------------- -------------- --------------
Net increase (decrease) in contract
owners' equity resulting from
operations....................... 16,826,512 9,046,026 (6,424,883)
-------------- -------------- --------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 71,107,684 81,385,530 106,687,268
Transfers between funds................ 21,283,689 10,885,567 3,713,555
Redemptions............................ (1,868,105) (8,253,422) (3,477,421)
Annuity benefits ...................... - - -
Contingent deferred sales charges
(note 2)............................. (25,533) (109,715) (19,045)
Adjustments to maintain reserves....... 198 (414) (220)
-------------- -------------- --------------
Net equity transactions............ 90,497,933 83,907,546 106,904,137
-------------- -------------- --------------
NET CHANGE IN CONTRACT OWNERS' EQUITY.... 107,324,445 92,953,572 100,479,254
CONTRACT OWNERS' EQUITY BEGINNING
OF PERIOD.............................. 2,005,428 103,387,120 2,907,866
-------------- -------------- --------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... 109,329,873 196,340,692 103,387,120
============== ============== ==============
</TABLE>
8
<PAGE> 8
NATIONWIDE VARIABLE ACCOUNT-9
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
STATEMENTS OF OPERATIONS, CONTINUED
YEARS ENDED DECEMBER 31, 1999 AND 1998
<TABLE>
<CAPTION>
FidVIPOvS FidVIPConS FidVIPGrOpS
------------------------------ ------------------------------ -------------
1999 1998 1999 1998 1999
-------------- -------------- -------------- -------------- -------------
<S> <C> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. $ 428,804 39,473 703,614 56,795 1,071,044
Mortality and expense risk charges
(note 2)............................. (466,539) (125,886) (2,565,841) (530,641) (1,576,394)
-------------- -------------- -------------- -------------- -------------
Net investment activity.............. (37,735) (86,413) (1,862,227) (473,846) (505,350)
-------------- -------------- -------------- -------------- -------------
Proceeds from mutual fund shares sold.. 169,388,211 4,459,537 1,391,017 389,637 22,825,558
Cost of mutual fund shares sold........ (158,069,751) (4,576,878) (1,110,585) (408,471) (20,001,471)
-------------- -------------- -------------- -------------- -------------
Realized gain (loss) on investments.. 11,318,460 (117,341) 280,432 (18,834) 2,824,087
Change in unrealized gain (loss)
on investments....................... 10,631,802 489,713 58,793,652 17,909,633 700,174
-------------- -------------- -------------- -------------- -------------
Net gain (loss) on investments....... 21,950,262 372,372 59,074,084 17,890,799 3,524,261
-------------- -------------- -------------- -------------- -------------
Reinvested capital gains............... 691,619 116,340 5,159,836 417,852 2,093,404
-------------- -------------- -------------- -------------- -------------
Net increase (decrease) in contract
owners' equity resulting from
operations....................... 22,604,146 402,299 62,371,693 17,834,805 5,112,315
-------------- -------------- -------------- -------------- -------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 31,661,483 21,535,431 210,779,869 95,817,883 111,530,050
Transfers between funds................ 13,663,206 3,800,935 32,806,150 13,757,369 (2,530,648)
Redemptions............................ (1,724,410) (383,762) (9,615,920) (2,362,374) (6,562,117)
Annuity benefits ...................... - - - - -
Contingent deferred sales charges
(note 2)............................. (34,214) (3,534) (187,997) (32,976) (125,543)
Adjustments to maintain reserves....... (5,141) 163 (1,122) (59,196) 2,854
-------------- -------------- -------------- -------------- -------------
Net equity transactions............ 43,560,924 24,949,233 233,780,980 107,120,706 102,314,596
-------------- -------------- -------------- -------------- -------------
NET CHANGE IN CONTRACT OWNERS' EQUITY.... 66,165,070 25,351,532 296,152,673 124,955,511 107,426,911
CONTRACT OWNERS' EQUITY BEGINNING
OF PERIOD.............................. 26,272,538 921,006 128,667,017 3,711,506 100,601,545
-------------- -------------- -------------- -------------- -------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... $ 92,437,608 26,272,538 424,819,690 128,667,017 208,028,456
============== ============== ============== ============== =============
</TABLE>
<TABLE>
<CAPTION>
FidVIPGrOpS MSEmMkt
-------------- ------------------------------
1998 1999 1998
-------------- -------------- --------------
<S> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. $ 67,013 790,752 387,439
Mortality and expense risk charges
(note 2)............................. (458,675) (47,240) (21,405)
-------------- -------------- --------------
Net investment activity.............. (391,662) 743,512 366,034
-------------- -------------- --------------
Proceeds from mutual fund shares sold.. 312,351 6,942,907 1,077,168
Cost of mutual fund shares sold........ (318,329) (7,221,261) (1,547,782)
-------------- -------------- --------------
Realized gain (loss) on investments.. (5,978) (278,354) (470,614)
Change in unrealized gain (loss)
on investments....................... 11,843,161 798,575 (967,487)
-------------- -------------- --------------
Net gain (loss) on investments....... 11,837,183 520,221 (1,438,101)
-------------- -------------- --------------
Reinvested capital gains............... 232,948 - -
-------------- -------------- --------------
Net increase (decrease) in contract
owners' equity resulting from
operations....................... 11,678,469 1,263,733 (1,072,067)
-------------- -------------- --------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 79,527,836 2,576,386 3,872,593
Transfers between funds................ 8,581,600 (170,498) 313,112
Redemptions............................ (1,722,323) (205,541) (58,191)
Annuity benefits ...................... - - -
Contingent deferred sales charges
(note 2)............................. (20,999) (2,930) (253)
Adjustments to maintain reserves....... (21,308) 4 (62)
-------------- -------------- --------------
Net equity transactions............ 86,344,806 2,197,421 4,127,199
-------------- -------------- --------------
NET CHANGE IN CONTRACT OWNERS' EQUITY.... 98,023,275 3,461,154 3,055,132
CONTRACT OWNERS' EQUITY BEGINNING
OF PERIOD.............................. 2,578,270 3,251,340 196,208
-------------- -------------- --------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... $ 100,601,545 6,712,494 3,251,340
============== ============== ==============
</TABLE>
(continued)
9
<PAGE> 9
NATIONWIDE VARIABLE ACCOUNT-9
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
STATEMENTS OF OPERATIONS, CONTINUED
YEARS ENDED DECEMBER 31, 1999 AND 1998
<TABLE>
<CAPTION>
NSATBal NSATCapAp NSATEqInc
------------------------------ ------------------------------ -------------
1999 1998 1999 1998 1999
-------------- -------------- -------------- -------------- -------------
<S> <C> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. $ 2,113,096 683,468 1,872,928 750,851 70,825
Mortality and expense risk charges
(note 2)............................. (578,114) (176,388) (2,766,087) (789,249) (190,451)
-------------- -------------- -------------- -------------- -------------
Net investment activity.............. 1,534,982 507,080 (893,159) (38,398) (119,626)
-------------- -------------- -------------- -------------- -------------
Proceeds from mutual fund shares sold.. 953,859 181,876 20,410,418 2,717,344 662,257
Cost of mutual fund shares sold........ (907,065) (178,647) (17,291,814) (2,728,836) (533,418)
-------------- -------------- -------------- -------------- -------------
Realized gain (loss) on investments.. 46,794 3,229 3,118,604 (11,492) 128,839
Change in unrealized gain (loss)
on investments....................... (2,325,487) 328,826 (18,009,623) 14,966,388 3,294,853
-------------- -------------- -------------- -------------- -------------
Net gain (loss) on investments....... (2,278,693) 332,055 (14,891,019) 14,954,896 3,423,692
-------------- -------------- -------------- -------------- -------------
Reinvested capital gains............... 10,762 115,971 22,036,681 5,341,096 10,580
-------------- -------------- -------------- -------------- -------------
Net increase (decrease) in contract
owners' equity resulting from
operations....................... (732,949) 955,106 6,252,503 20,257,594 3,314,646
-------------- -------------- -------------- -------------- -------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 40,680,546 33,253,731 186,868,647 150,374,491 10,827,322
Transfers between funds................ (2,694,018) 4,913,679 (33,840,307) 25,963,419 1,031,331
Redemptions............................ (2,544,229) (833,930) (12,585,838) (3,752,392) (1,057,143)
Annuity benefits ...................... - - - - -
Contingent deferred sales charges
(note 2)............................. (32,122) (8,225) (275,367) (30,248) (20,478)
Adjustments to maintain reserves....... 44,627 177 (12,885) 53,212 (31)
-------------- -------------- -------------- -------------- -------------
Net equity transactions............ 35,454,804 37,325,432 140,154,250 172,608,482 10,781,001
-------------- -------------- -------------- -------------- -------------
NET CHANGE IN CONTRACT OWNERS' EQUITY.... 34,721,855 38,280,538 146,406,753 192,866,076 14,095,647
CONTRACT OWNERS' EQUITY BEGINNING
OF PERIOD.............................. 39,173,071 892,533 195,527,481 2,661,405 12,791,973
-------------- -------------- -------------- -------------- -------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... $ 73,894,926 39,173,071 341,934,234 195,527,481 26,887,620
============== ============== ============== ============== =============
</TABLE>
<TABLE>
<CAPTION>
NSATEqInc NSATGlobEq
-------------- ------------------------------
1998 1999 1998
-------------- -------------- --------------
<S> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. 75,504 84,740 141,975
Mortality and expense risk charges
(note 2)............................. (66,726) (244,287) (76,522)
-------------- -------------- --------------
Net investment activity.............. 8,778 (159,547) 65,453
-------------- -------------- --------------
Proceeds from mutual fund shares sold.. 376,534 526,452 685,356
Cost of mutual fund shares sold........ (366,898) (401,585) (668,251)
-------------- -------------- --------------
Realized gain (loss) on investments.. 9,636 124,867 17,105
Change in unrealized gain (loss)
on investments....................... 869,248 4,354,472 936,891
-------------- -------------- --------------
Net gain (loss) on investments....... 878,884 4,479,339 953,996
-------------- -------------- --------------
Reinvested capital gains............... 137,183 1,182,461 98,132
-------------- -------------- --------------
Net increase (decrease) in contract
owners' equity resulting from
operations....................... 1,024,845 5,502,253 1,117,581
-------------- -------------- --------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 10,836,292 15,224,818 12,466,313
Transfers between funds................ 736,897 2,201,223 1,290,714
Redemptions............................ (392,814) (854,333) (359,325)
Annuity benefits ...................... - - -
Contingent deferred sales charges
(note 2)............................. (5,629) (8,941) (2,129)
Adjustments to maintain reserves....... (359) 8,686 35
-------------- -------------- --------------
Net equity transactions............ 11,174,387 16,571,453 13,395,608
-------------- -------------- --------------
NET CHANGE IN CONTRACT OWNERS' EQUITY.... 12,199,232 22,073,706 14,513,189
CONTRACT OWNERS' EQUITY BEGINNING
OF PERIOD.............................. 592,741 15,026,672 513,483
-------------- -------------- --------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... 12,791,973 37,100,378 15,026,672
============== ============== ==============
</TABLE>
10
<PAGE> 10
NATIONWIDE VARIABLE ACCOUNT-9
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
STATEMENTS OF OPERATIONS, CONTINUED
YEARS ENDED DECEMBER 31, 1999 AND 1998
<TABLE>
<CAPTION>
NSATGvtBd NSATHIncBd NSATMyMkt
------------------------------ ------------------------------ -------------
1999 1998 1999 1998 1999
-------------- -------------- -------------- -------------- -------------
<S> <C> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. $ 11,115,708 4,068,221 3,747,180 1,175,418 13,994,349
Mortality and expense risk charges
(note 2)............................. (1,915,411) (617,861) (429,794) (140,356) (3,003,994)
-------------- -------------- -------------- -------------- -------------
Net investment activity.............. 9,200,297 3,450,360 3,317,386 1,035,062 10,990,355
-------------- -------------- -------------- -------------- -------------
Proceeds from mutual fund shares sold.. 19,852,089 6,875,359 17,841,203 1,434,798 914,095,013
Cost of mutual fund shares sold........ (20,364,218) (6,712,656) (18,615,221) (1,454,954) (914,095,013)
-------------- -------------- -------------- -------------- -------------
Realized gain (loss) on investments.. (512,129) 162,703 (774,018) (20,156) -
Change in unrealized gain (loss)
on investments....................... (15,046,720) 96,330 (1,931,626) (637,940) -
-------------- -------------- -------------- -------------- -------------
Net gain (loss) on investments....... (15,558,849) 259,033 (2,705,644) (658,096) -
-------------- -------------- -------------- -------------- -------------
Reinvested capital gains............... 458,147 644,842 20,477 - -
-------------- -------------- -------------- -------------- -------------
Net increase (decrease) in contract
owners' equity resulting from
operations....................... (5,900,405) 4,354,235 632,219 376,966 10,990,355
-------------- -------------- -------------- -------------- -------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 155,714,369 135,535,861 26,877,564 26,481,762 513,201,591
Transfers between funds................ (31,118,681) (2,966,402) (4,776,516) 2,932,999 (270,070,521)
Redemptions............................ (12,549,617) (4,331,237) (2,757,819) (701,614) (35,394,012)
Annuity benefits ...................... - - - - -
Contingent deferred sales charges
(note 2)............................. (152,236) (23,933) (38,131) (4,542) (569,286)
Adjustments to maintain reserves....... (5,324) 1,128 1,005 (12) 66,186
-------------- -------------- -------------- -------------- -------------
Net equity transactions............ 111,888,511 128,215,417 19,306,103 28,708,593 207,233,958
-------------- -------------- -------------- -------------- -------------
NET CHANGE IN CONTRACT OWNERS' EQUITY.... 105,988,106 132,569,652 19,938,322 29,085,559 218,224,313
CONTRACT OWNERS' EQUITY BEGINNING
OF PERIOD.............................. 135,739,661 3,170,009 29,999,540 913,981 191,311,362
-------------- -------------- -------------- -------------- -------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... $ 241,727,767 135,739,661 49,937,862 29,999,540 409,535,675
============== ============== ============== ============== =============
</TABLE>
<TABLE>
<CAPTION>
NSATMyMkt NSATMSecBd
-------------- ------------------------------
1998 1999 1998
-------------- -------------- --------------
<S> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. 5,541,671 3,046,558 1,155,410
Mortality and expense risk charges
(note 2)............................. (1,078,918) (461,845) (177,722)
-------------- -------------- --------------
Net investment activity.............. 4,462,753 2,584,713 977,688
-------------- -------------- --------------
Proceeds from mutual fund shares sold.. 74,592,150 3,225,045 474,327
Cost of mutual fund shares sold........ (74,592,150) (3,438,764) (482,830)
-------------- -------------- --------------
Realized gain (loss) on investments.. - (213,719) (8,503)
Change in unrealized gain (loss)
on investments....................... - (1,852,549) (757,239)
-------------- -------------- --------------
Net gain (loss) on investments....... - (2,066,268) (765,742)
-------------- -------------- --------------
Reinvested capital gains............... - - 31,361
-------------- -------------- --------------
Net increase (decrease) in contract
owners' equity resulting from
operations....................... 4,462,753 518,445 243,307
-------------- -------------- --------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 406,622,866 27,508,026 29,533,663
Transfers between funds................ (219,515,750) (1,144,670) 4,903,909
Redemptions............................ (13,347,779) (2,473,128) (761,323)
Annuity benefits ...................... - - -
Contingent deferred sales charges
(note 2)............................. (133,217) (41,232) (7,092)
Adjustments to maintain reserves....... 36,549 (217) 78
-------------- -------------- --------------
Net equity transactions............ 173,662,669 23,848,779 33,669,235
-------------- -------------- --------------
NET CHANGE IN CONTRACT OWNERS' EQUITY.... 178,125,422 24,367,224 33,912,542
CONTRACT OWNERS' EQUITY BEGINNING
OF PERIOD.............................. 13,185,940 34,953,838 1,041,296
-------------- -------------- --------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... 191,311,362 59,321,062 34,953,838
============== ============== ==============
</TABLE>
11
<PAGE> 11
NATIONWIDE VARIABLE ACCOUNT-9
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
STATEMENTS OF OPERATIONS, CONTINUED
YEARS ENDED DECEMBER 31, 1999 AND 1998
<TABLE>
<CAPTION>
NSATMidCap NSATSmCapG NSATSmCapV
------------------------------ ------------------------------ -------------
1999 1998 1999 1998 1999
-------------- -------------- -------------- -------------- -------------
<S> <C> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. $ 26,390 40,624 - - -
Mortality and expense risk charges
(note 2)............................. (100,293) (39,241) (17,275) - (447,536)
-------------- -------------- -------------- -------------- -------------
Net investment activity.............. (73,903) 1,383 (17,275) - (447,536)
-------------- -------------- -------------- -------------- -------------
Proceeds from mutual fund shares sold.. 1,719,925 1,063,903 5,179,636 - 26,947,959
Cost of mutual fund shares sold........ (1,627,057) (1,093,420) (4,606,174) - (24,503,029)
-------------- -------------- -------------- -------------- -------------
Realized gain (loss) on investments.. 92,868 (29,517) 573,462 - 2,444,930
Change in unrealized gain (loss)
on investments....................... 1,139,778 397,911 3,274,222 - (2,252,934)
-------------- -------------- -------------- -------------- -------------
Net gain (loss) on investments....... 1,232,646 368,394 3,847,684 - 191,996
-------------- -------------- -------------- -------------- -------------
Reinvested capital gains............... 906,636 - 510,845 - 11,306,131
-------------- -------------- -------------- -------------- -------------
Net increase (decrease) in contract
owners' equity resulting from
operations....................... 2,065,379 369,777 4,341,254 - 11,050,591
-------------- -------------- -------------- -------------- -------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 5,311,828 6,187,234 3,532,204 - 25,899,735
Transfers between funds................ 629,075 558,871 6,524,803 - 3,995,622
Redemptions............................ (506,127) (98,756) (67,415) - (1,693,497)
Annuity benefits ...................... - - - - -
Contingent deferred sales charges
(note 2)............................. (6,847) (2,133) (334) - (30,984)
Adjustments to maintain reserves....... 4,046 6 (77,860) - 16,893
-------------- -------------- -------------- -------------- -------------
Net equity transactions............ 5,431,975 6,645,222 9,911,398 - 28,187,769
-------------- -------------- -------------- -------------- -------------
NET CHANGE IN CONTRACT OWNERS' EQUITY.... 7,497,354 7,014,999 14,252,652 - 39,238,360
CONTRACT OWNERS' EQUITY BEGINNING
OF PERIOD.............................. 7,244,061 229,062 - - 29,728,543
-------------- -------------- -------------- -------------- -------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... $ 14,741,415 7,244,061 14,252,652 - 68,966,903
============== ============== ============== ============== =============
</TABLE>
<TABLE>
<CAPTION>
NSATSmCapV NSATSmCo
-------------- ------------------------------
1998 1999 1998
-------------- -------------- --------------
<S> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. - - -
Mortality and expense risk charges
(note 2)............................. $ (139,281) (590,685) (214,785)
-------------- -------------- --------------
Net investment activity.............. (139,281) (590,685) (214,785)
-------------- -------------- --------------
Proceeds from mutual fund shares sold.. 2,135,282 98,840,506 1,735,242
Cost of mutual fund shares sold........ (2,330,458) (90,285,318) (1,907,541)
-------------- -------------- --------------
Realized gain (loss) on investments.. (195,176) 8,555,188 (172,299)
Change in unrealized gain (loss)
on investments....................... (40,635) 15,852,354 424,838
-------------- -------------- --------------
Net gain (loss) on investments....... (235,811) 24,407,542 252,539
-------------- -------------- --------------
Reinvested capital gains............... - 4,052,068 -
-------------- -------------- --------------
Net increase (decrease) in contract
owners' equity resulting from
operations....................... (375,092) 27,868,925 37,754
-------------- -------------- --------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 24,448,985 28,999,047 35,742,935
Transfers between funds................ 5,269,520 4,674,356 6,599,455
Redemptions............................ (761,878) (2,442,726) (919,776)
Annuity benefits ...................... - - -
Contingent deferred sales charges
(note 2)............................. (10,195) (58,681) (7,264)
Adjustments to maintain reserves....... 49 967 6
-------------- -------------- --------------
Net equity transactions............ 28,946,481 31,172,963 41,415,356
-------------- -------------- --------------
NET CHANGE IN CONTRACT OWNERS' EQUITY.... 28,571,389 59,041,888 41,453,110
CONTRACT OWNERS' EQUITY BEGINNING
OF PERIOD.............................. 1,157,154 43,011,425 1,558,315
-------------- -------------- --------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... $ 29,728,543 102,053,313 43,011,425
============== ============== ==============
</TABLE>
12
<PAGE> 12
NATIONWIDE VARIABLE ACCOUNT-9
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
STATEMENTS OF OPERATIONS, CONTINUED
YEARS ENDED DECEMBER 31, 1999 AND 1998
<TABLE>
<CAPTION>
NSATStrGro NSATStrVal NSATTotRe
------------------------------ ------------------------------ -------------
1999 1998 1999 1998 1999
-------------- -------------- -------------- -------------- -------------
<S> <C> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. $ - - 114,007 63,791 2,607,845
Mortality and expense risk charges
(note 2)............................. (279,828) (43,967) (135,462) (72,683) (3,940,689)
-------------- -------------- -------------- -------------- -------------
Net investment activity.............. (279,828) (43,967) (21,455) (8,892) (1,332,844)
-------------- -------------- -------------- -------------- -------------
Proceeds from mutual fund shares sold.. 7,402,907 487,613 5,077,140 1,450,301 5,635,213
Cost of mutual fund shares sold........ (5,535,789) (466,818) (5,576,119) (1,513,062) (4,896,728)
-------------- -------------- -------------- -------------- -------------
Realized gain (loss) on investments.. 1,867,118 20,795 (498,979) (62,761) 738,485
Change in unrealized gain (loss)
on investments....................... 18,826,217 809,463 (536,035) (125,831) 2,068,214
-------------- -------------- -------------- -------------- -------------
Net gain (loss) on investments....... 20,693,335 830,258 (1,035,014) (188,592) 2,806,699
-------------- -------------- -------------- -------------- -------------
Reinvested capital gains............... 4,290,875 - 422,281 - 18,733,710
-------------- -------------- -------------- -------------- -------------
Net increase (decrease) in contract
owners' equity resulting from
operations....................... 24,704,382 786,291 (634,188) (197,484) 20,207,565
-------------- -------------- -------------- -------------- -------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 22,842,076 7,304,155 5,369,174 12,996,713 236,961,792
Transfers between funds................ 32,390,564 441,689 (3,499,556) 616,493 (11,925,544)
Redemptions............................ (1,318,965) (118,200) (549,563) (291,210) (20,433,946)
Annuity benefits ...................... - - - - (1,253)
Contingent deferred sales charges
(note 2)............................. (31,712) (2,477) (11,600) (1,123) (403,251)
Adjustments to maintain reserves....... 881 (24) (138) (115) (74)
-------------- -------------- -------------- -------------- -------------
Net equity transactions............ 53,882,844 7,625,143 1,308,317 13,320,758 204,197,724
-------------- -------------- -------------- -------------- -------------
NET CHANGE IN CONTRACT OWNERS' EQUITY.... 78,587,226 8,411,434 674,129 13,123,274 224,405,289
CONTRACT OWNERS' EQUITY BEGINNING
OF PERIOD.............................. 8,737,476 326,042 13,606,737 483,463 285,881,294
-------------- -------------- -------------- -------------- -------------
Contract owners' equity end of period.... $ 87,324,702 8,737,476 14,280,866 13,606,737 510,286,583
============== ============== ============== ============== =============
</TABLE>
<TABLE>
<CAPTION>
NSATTotRe NBAMTGuard
-------------- ------------------------------
1998 1999 1998
-------------- -------------- --------------
<S> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. 1,708,752 136,645 1,976
Mortality and expense risk charges
(note 2)............................. (1,383,759) (509,102) (150,013)
-------------- -------------- --------------
Net investment activity.............. 324,993 (372,457) (148,037)
-------------- -------------- --------------
Proceeds from mutual fund shares sold.. 467,344 11,010,636 3,798,426
Cost of mutual fund shares sold........ (439,529) (10,638,188) (3,492,087)
-------------- -------------- --------------
Realized gain (loss) on investments.. 27,815 372,448 306,339
Change in unrealized gain (loss)
on investments....................... 4,936,630 5,598,352 594,984
-------------- -------------- --------------
Net gain (loss) on investments....... 4,964,445 5,970,800 901,323
-------------- -------------- --------------
Reinvested capital gains............... 11,040,291 - -
-------------- -------------- --------------
Net increase (decrease) in contract
owners' equity resulting from
operations....................... 16,329,729 5,598,343 753,286
-------------- -------------- --------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 262,212,521 30,029,433 24,467,744
Transfers between funds................ 8,063,395 (1,195,248) 7,388,132
Redemptions............................ (6,698,439) (1,949,424) (704,350)
Annuity benefits ...................... - - -
Contingent deferred sales charges
(note 2)............................. (83,262) (43,794) (8,663)
Adjustments to maintain reserves....... (796) (171) (16)
-------------- -------------- --------------
Net equity transactions............ 263,493,419 26,840,796 31,142,847
-------------- -------------- --------------
NET CHANGE IN CONTRACT OWNERS' EQUITY.... 279,823,148 32,439,139 31,896,133
CONTRACT OWNERS' EQUITY BEGINNING
OF PERIOD.............................. 6,058,146 32,358,200 462,067
-------------- -------------- --------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... 285,881,294 64,797,339 32,358,200
============== ============== ==============
</TABLE>
13
<PAGE> 13
NATIONWIDE VARIABLE ACCOUNT-9
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
STATEMENTS OF OPERATIONS, CONTINUED
YEARS ENDED DECEMBER 31, 1999 AND 1998
<TABLE>
<CAPTION>
NBAMTMCGr NBAMTPart OppAggGro
------------------------------ ------------------------------ -------------
1999 1998 1999 1998 1999
-------------- -------------- -------------- -------------- -------------
<S> <C> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. $ - 2,804 1,329,409 110,164 -
Mortality and expense risk charges
(note 2)............................. (486,685) (128,063) (1,181,540) (710,975) (562,098)
-------------- -------------- -------------- -------------- -------------
Net investment activity.............. (486,685) (125,259) 147,869 (600,811) (562,098)
-------------- -------------- -------------- -------------- -------------
Proceeds from mutual fund shares sold.. 9,847,995 2,635,124 14,525,051 11,129,126 66,676,730
Cost of mutual fund shares sold........ (8,329,873) (2,223,804) (15,847,800) (12,460,209) (54,000,617)
-------------- -------------- -------------- -------------- -------------
Realized gain (loss) on investments.. 1,518,122 411,320 (1,322,749) (1,331,083) 12,676,113
Change in unrealized gain (loss)
on investments....................... 29,692,933 4,390,487 5,530,836 (3,000,603) 36,427,451
-------------- -------------- -------------- -------------- -------------
Net gain (loss) on investments....... 31,211,055 4,801,807 4,208,087 (4,331,686) 49,103,564
-------------- -------------- -------------- -------------- -------------
Reinvested capital gains............... 854,495 19,626 2,312,016 3,470,168 -
-------------- -------------- -------------- -------------- -------------
Net increase (decrease) in contract
owners' equity resulting from
operations....................... 31,578,865 4,696,174 6,667,972 (1,462,329) 48,541,466
-------------- -------------- -------------- -------------- -------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 39,386,252 18,933,486 35,775,813 107,647,557 40,719,412
Transfers between funds................ 6,571,008 3,753,367 (18,685,095) (8,050,973) 32,955,048
Redemptions............................ (1,774,431) (610,060) (4,980,093) (2,536,518) (2,221,684)
Annuity benefits ...................... - - - - -
Contingent deferred sales charges
(note 2)............................. (37,463) (5,247) (115,843) (22,496) (49,415)
Adjustments to maintain reserves....... 623 10,095 (187) (1,292) 1,821
-------------- -------------- -------------- -------------- -------------
Net equity transactions............ 44,145,989 22,081,641 11,994,595 97,036,278 71,405,182
-------------- -------------- -------------- -------------- -------------
NET CHANGE IN CONTRACT OWNERS' EQUITY.... 75,724,854 26,777,815 18,662,567 95,573,949 119,946,648
CONTRACT OWNERS' EQUITY BEGINNING
OF PERIOD.............................. 28,359,137 1,581,322 108,935,535 13,361,586 27,386,709
-------------- -------------- -------------- -------------- -------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... $ 104,083,991 28,359,137 127,598,102 108,935,535 147,333,357
============== ============== ============== ============== =============
</TABLE>
<TABLE>
<CAPTION>
OppAggGro OppCapAp
-------------- ------------------------------
1998 1999 1998
-------------- -------------- --------------
<S> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. 9,456 188,198 37,971
Mortality and expense risk charges
(note 2)............................. (119,282) (871,318) (174,030)
-------------- -------------- --------------
Net investment activity.............. (109,826) (683,120) (136,059)
-------------- -------------- --------------
Proceeds from mutual fund shares sold.. 1,420,396 1,778,562 597,638
Cost of mutual fund shares sold........ (1,460,125) (1,466,097) (673,390)
-------------- -------------- --------------
Realized gain (loss) on investments.. (39,729) 312,465 (75,752)
Change in unrealized gain (loss)
on investments....................... 1,711,620 36,882,889 4,326,733
-------------- -------------- --------------
Net gain (loss) on investments....... 1,671,891 37,195,354 4,250,981
-------------- -------------- --------------
Reinvested capital gains............... 97,107 2,067,307 458,139
-------------- -------------- --------------
Net increase (decrease) in contract
owners' equity resulting from
operations....................... 1,659,172 38,579,541 4,573,061
-------------- -------------- --------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 21,395,189 69,998,087 34,076,956
Transfers between funds................ 4,014,156 26,275,783 2,552,479
Redemptions............................ (398,429) (3,288,357) (796,810)
Annuity benefits ...................... - - -
Contingent deferred sales charges
(note 2)............................. (3,886) (64,894) (15,293)
Adjustments to maintain reserves....... 66 822 (7)
-------------- -------------- --------------
Net equity transactions............ 25,007,096 92,921,441 35,817,325
-------------- -------------- --------------
NET CHANGE IN CONTRACT OWNERS' EQUITY.... 26,666,268 131,500,982 40,390,386
CONTRACT OWNERS' EQUITY BEGINNING
OF PERIOD.............................. 720,441 41,340,619 950,233
-------------- -------------- --------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... 27,386,709 172,841,601 41,340,619
============== ============== ==============
</TABLE>
14
<PAGE> 14
NATIONWIDE VARIABLE ACCOUNT-9
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
STATEMENTS OF OPERATIONS, CONTINUED
YEARS ENDED DECEMBER 31, 1999 AND 1998
<TABLE>
<CAPTION>
OppGrinc VEWrldEMkt VEWrldHAs
------------------------------ ------------------------------ -------------
1999 1998 1999 1998 1999
-------------- -------------- -------------- -------------- -------------
<S> <C> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. $ 256,716 15,499 - 10,120 32,691
Mortality and expense risk charges
(note 2)............................. (821,624) (226,980) (135,165) (30,563) (47,094)
-------------- -------------- -------------- -------------- -------------
Net investment activity.............. (564,908) (211,481) (135,165) (20,443) (14,403)
-------------- -------------- -------------- -------------- -------------
Proceeds from mutual fund shares sold.. 2,205,547 1,051,542 49,595,652 1,437,687 33,912,002
Cost of mutual fund shares sold........ (2,181,405) (1,137,377) (44,294,831) (1,801,946) (33,450,865)
-------------- -------------- -------------- -------------- -------------
Realized gain (loss) on investments.. 24,142 (85,835) 5,300,821 (364,259) 461,137
Change in unrealized gain (loss)
on investments....................... 16,554,000 (156,268) 6,929,541 (898,926) 349,586
-------------- -------------- -------------- -------------- -------------
Net gain (loss) on investments....... 16,578,142 (242,103) 12,230,362 (1,263,185) 810,723
-------------- -------------- -------------- -------------- -------------
Reinvested capital gains............... 432,510 341,298 - 8,995 -
-------------- -------------- -------------- -------------- -------------
Net increase (decrease) in contract
owners' equity resulting from
operations....................... 16,445,744 (112,286) 12,095,197 (1,274,633) 796,320
-------------- -------------- -------------- -------------- -------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 71,680,449 47,098,256 8,623,115 5,631,777 2,392,796
Transfers between funds................ 5,709,038 4,855,602 10,280,791 (119,473) 1,791,654
Redemptions............................ (3,803,771) (1,267,689) (1,025,890) (159,609) (245,453)
Annuity benefits ...................... - - - - -
Contingent deferred sales charges
(note 2)............................. (65,301) (14,711) (32,807) (976) (1,862)
Adjustments to maintain reserves....... 129 6 621 120 5
-------------- -------------- -------------- -------------- -------------
Net equity transactions............ 73,520,544 50,671,464 17,845,830 5,351,839 3,937,140
-------------- -------------- -------------- -------------- -------------
NET CHANGE IN CONTRACT OWNERS' EQUITY.... 89,966,288 50,559,178 29,941,027 4,077,206 4,733,460
CONTRACT OWNERS' EQUITY BEGINNING
OF PERIOD.............................. 51,643,553 1,084,375 4,734,742 657,536 2,047,555
-------------- -------------- -------------- -------------- -------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... $ 141,609,841 51,643,553 34,675,769 4,734,742 6,781,015
============== ============== ============== ============== =============
</TABLE>
<TABLE>
<CAPTION>
VEWrldHAs VKMSRESec
-------------- ------------------------------
1998 1999 1998
-------------- -------------- --------------
<S> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. 2,513 1,176,823 10,631
Mortality and expense risk charges
(note 2)............................. (13,210) (195,387) (114,486)
-------------- -------------- --------------
Net investment activity.............. (10,697) 981,436 (103,855)
-------------- -------------- --------------
Proceeds from mutual fund shares sold.. 1,320,656 8,332,839 1,342,798
Cost of mutual fund shares sold........ (1,839,705) (9,623,986) (1,619,581)
-------------- -------------- --------------
Realized gain (loss) on investments.. (519,049) (1,291,147) (276,783)
Change in unrealized gain (loss)
on investments....................... (85,920) (722,279) (1,172,272)
-------------- -------------- --------------
Net gain (loss) on investments....... (604,969) (2,013,426) (1,449,055)
-------------- -------------- --------------
Reinvested capital gains............... 61,720 - 104,608
-------------- -------------- --------------
Net increase (decrease) in contract
owners' equity resulting from
operations....................... (553,946) (1,031,990) (1,448,302)
-------------- -------------- --------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 2,371,551 8,349,713 17,955,980
Transfers between funds................ 111,448 (3,211,414) 861,422
Redemptions............................ (100,995) (943,773) (416,792)
Annuity benefits ...................... - - -
Contingent deferred sales charges
(note 2)............................. (454) (21,748) (1,112)
Adjustments to maintain reserves....... (228) (165) (276)
-------------- -------------- --------------
Net equity transactions............ 2,381,322 4,172,613 18,399,222
-------------- -------------- --------------
NET CHANGE IN CONTRACT OWNERS' EQUITY.... 1,827,376 3,140,623 16,950,920
CONTRACT OWNERS' EQUITY BEGINNING
OF PERIOD.............................. 220,179 18,011,188 1,060,268
-------------- -------------- --------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... 2,047,555 21,151,811 18,011,188
============== ============== ==============
</TABLE>
15
<PAGE> 15
NATIONWIDE VARIABLE ACCOUNT-9
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
STATEMENTS OF OPERATIONS, CONTINUED
YEARS ENDED DECEMBER 31, 1999 AND 1998
<TABLE>
<CAPTION>
VVIFDStk VVIFIQBd VVIFSmCoOPP
------------------------------ ------------------------------ -------------
1999 1998 1999 1998 1999
-------------- -------------- -------------- -------------- -------------
<S> <C> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. $ 13,921 - 31,107 - 6,490
Mortality and expense risk charges
(note 2)............................. (7,664) - (1,470) - (889)
-------------- -------------- -------------- -------------- -------------
Net investment activity.............. 6,257 - 29,637 - 5,601
-------------- -------------- -------------- -------------- -------------
Proceeds from mutual fund shares sold.. 79,603 - 18,422 - 291
Cost of mutual fund shares sold........ (82,834) - (18,483) - (310)
-------------- -------------- -------------- -------------- -------------
Realized gain (loss) on investments.. (3,231) - (61) - (19)
Change in unrealized gain (loss)
on investments....................... 164,023 - (32,432) - 11,787
-------------- -------------- -------------- -------------- -------------
Net gain (loss) on investments....... 160,792 - (32,493) - 11,768
-------------- -------------- -------------- -------------- -------------
Reinvested capital gains............... - - - - -
-------------- -------------- -------------- -------------- -------------
Net increase (decrease) in contract
owners' equity resulting from
operations....................... 167,049 - (2,856) - 17,369
-------------- -------------- -------------- -------------- -------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 3,821,737 - 1,758,972 - 1,359,026
Transfers between funds................ 65,984 - - - -
Redemptions............................ (13,451) - (1,445) - -
Annuity benefits ...................... - - - - -
Contingent deferred sales charges
(note 2)............................. (305) - (43) - -
Adjustments to maintain reserves....... (3,436) - (22,296) - (5,256)
-------------- -------------- -------------- -------------- -------------
Net equity transactions............ 3,870,529 - 1,735,188 - 1,353,770
-------------- -------------- -------------- -------------- -------------
NET CHANGE IN CONTRACT OWNERS' EQUITY.... 4,037,578 - 1,732,332 - 1,371,139
CONTRACT OWNERS' EQUITY BEGINNING
OF PERIOD.............................. - - - - -
-------------- -------------- -------------- -------------- -------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... $ 4,037,578 - 1,732,332 - 1,371,139
============== ============== ============== ============== =============
</TABLE>
<TABLE>
<CAPTION>
VVIFSmCoOPP WPGrinc
-------------- ------------------------------
1998 1999 1998
-------------- -------------- --------------
<S> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. - 173,949 108,063
Mortality and expense risk charges
(note 2)............................. - (178,005) (65,537)
-------------- -------------- --------------
Net investment activity.............. - (4,056) 42,526
-------------- -------------- --------------
Proceeds from mutual fund shares sold.. - 5,363,260 492,211
Cost of mutual fund shares sold........ - (5,013,179) (462,324)
-------------- -------------- --------------
Realized gain (loss) on investments.. - 350,081 29,887
Change in unrealized gain (loss)
on investments....................... - (232,251) 416,403
-------------- -------------- --------------
Net gain (loss) on investments....... - 117,830 446,290
-------------- -------------- --------------
Reinvested capital gains............... - 313,236 -
-------------- -------------- --------------
Net increase (decrease) in contract
owners' equity resulting from
operations....................... - 427,010 488,816
-------------- -------------- --------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... - 8,990,039 11,279,862
Transfers between funds................ - (3,279,579) 1,072,048
Redemptions............................ - (785,224) (178,134)
Annuity benefits ...................... - - -
Contingent deferred sales charges
(note 2)............................. - (8,341) (1,134)
Adjustments to maintain reserves....... - (17,238) (786)
-------------- -------------- --------------
Net equity transactions............ - 4,899,657 12,171,856
-------------- -------------- --------------
NET CHANGE IN CONTRACT OWNERS' EQUITY.... - 5,326,667 12,660,672
CONTRACT OWNERS' EQUITY BEGINNING
OF PERIOD.............................. - 13,095,692 435,020
-------------- -------------- --------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... - 18,422,359 13,095,692
============== ============== ==============
</TABLE>
16
<PAGE> 16
NATIONWIDE VARIABLE ACCOUNT-9
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
STATEMENTS OF OPERATIONS, CONTINUED
YEARS ENDED DECEMBER 31, 1999 AND 1998
<TABLE>
<CAPTION>
WPIntEq WPPVenCap
------------------------------ ------------------------------
1999 1998 1999 1998
-------------- -------------- -------------- --------------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. $ 323,682 82,563 - -
Mortality and expense risk charges
(note 2)............................. (245,117) (89,474) (102,042) (30,241)
-------------- -------------- -------------- --------------
Net investment activity.............. 78,565 (6,911) (102,042) (30,241)
-------------- -------------- -------------- --------------
Proceeds from mutual fund shares sold.. 158,927,167 2,101,509 20,338,944 1,184,605
Cost of mutual fund shares sold........ (149,550,425) (2,099,792) (17,967,401) (1,319,705)
-------------- -------------- -------------- --------------
Realized gain (loss) on investments.. 9,376,742 1,717 2,371,543 (135,100)
Change in unrealized gain (loss)
on investments....................... 4,764,159 (655,153) 4,746,233 268,939
-------------- -------------- -------------- --------------
Net gain (loss) on investments....... 14,140,901 (653,436) 7,117,776 133,839
-------------- -------------- -------------- --------------
Reinvested capital gains............... - - - -
-------------- -------------- -------------- --------------
Net increase (decrease) in contract
owners' equity resulting from
operations....................... 14,219,466 (660,347) 7,015,734 103,598
-------------- -------------- -------------- --------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 7,668,878 14,240,840 3,304,912 5,338,928
Transfers between funds................ 5,802,849 1,644,029 5,171,722 1,058,670
Redemptions............................ (1,105,825) (211,060) (382,170) (134,332)
Annuity benefits ...................... - - - -
Contingent deferred sales charges
(note 2)............................. (28,643) (2,448) (9,129) (810)
Adjustments to maintain reserves....... (44,309) (112) 86 15
-------------- -------------- -------------- --------------
Net equity transactions............ 12,292,950 15,671,249 8,085,421 6,262,471
-------------- -------------- -------------- --------------
NET CHANGE IN CONTRACT OWNERS' EQUITY.... 26,512,416 15,010,902 15,101,155 6,366,069
CONTRACT OWNERS' EQUITY BEGINNING
OF PERIOD.............................. 15,824,159 813,257 6,508,542 142,473
-------------- -------------- -------------- --------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... $ 42,336,575 15,824,159 21,609,697 6,508,542
============== ============== ============== ==============
</TABLE>
See accompanying notes to financial statements.
17
<PAGE> 17
NATIONWIDE VARIABLE ACCOUNT-9
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1999 AND 1998
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(a) Organization and Nature of Operations
The Nationwide Variable Account-9 (the Account) was established
pursuant to a resolution of the Board of Directors of Nationwide Life
Insurance Company (the Company) on May 22, 1997. The Account has been
registered as a unit investment trust under the Investment Company Act
of 1940.
The Company offers tax qualified and non-tax qualified Modified Single
Premium Deferred Variable Annuity Contracts through the Account. The
primary distribution for the contracts is through the brokerage
community; however, other distributors are utilized.
(b) The Contracts
Only contracts without a front-end sales charge, but with a contingent
deferred sales charge and certain other fees are offered for purchase.
See note 2 for a discussion of contract expenses.
With certain exceptions, contract owners in either the accumulation or
the payout phase may invest in the following:
Portfolios of the American Century Variable Portfolios, Inc.
(American Century VP);
American Century VP - American Century VP Income & Growth
(ACVPIncGr)
American Century VP - American Century VP International
(ACVPInt)
American Century VP - American Century VP Value (ACVPValue)
The Dreyfus Socially Responsible Growth Fund, Inc. (DrySRGro)
Dreyfus Stock Index Fund (DryStkIx)
Portfolio of the Dreyfus Variable Investment Fund (Dreyfus VIF);
Dreyfus VIF - Capital Appreciation Portfolio (DryCapAp)
Dreyfus VIF - European Equities Fund (DryEuroEq)
Federated Insurance Series: Federated Quality Bond Fund II
(FedQualBd)
Portfolios of the Fidelity Variable Insurance Products Fund (
Fidelity VIP);
Fidelity VIP - Equity-Income Portfolio - Service Class
(FidVIPEIS)
Fidelity VIP - Growth Portfolio - Service Class (FidVIPGrS)
Fidelity VIP - High Income Portfolio - Service Class (FidVIPHIS)
Fidelity VIP - Overseas Portfolio - Service Class (FidVIPOvS)
Portfolio of the Fidelity Variable Insurance Products Fund II
(Fidelity VIP-II);
Fidelity VIP-II - Contrafund Portfolio - Service Class
(FidVIPConS)
Portfolio of the Fidelity Variable Insurance Products Fund III
(Fidelity VIP-III);
Fidelity VIP-III - Growth Opportunities Portfolio - Service
Class (FidVIPGrOpS)
Portfolio of the Morgan Stanley Universal Funds, Inc.
(Morgan Stanley);
Morgan Stanley - Emerging Markets Debt Portfolio (MSEmMkt)
Funds of the Nationwide Separate Account Trust (Nationwide SAT)
(managed for a fee by an affiliated investment advisor);
Nationwide SAT - Balanced Fund (NSATBal)
Nationwide SAT - Capital Appreciation Fund (NSATCapAp)
Nationwide SAT - Equity Income Fund (NSATEqInc)
Nationwide SAT - Global Equity Fund (NSATGlobEq)
Nationwide SAT - Government Bond Fund (NSATGvtBd)
Nationwide SAT - High Income Bond Fund (NSATHIncBd)
Nationwide SAT - Money Market Fund (NSATMyMkt)
18
<PAGE> 18
Nationwide SAT - Multi Sector Bond Fund (NSATMSecBd)
Nationwide SAT - Select Advisers Mid Cap Fund (NSATMidCap)
Nationwide SAT - Select Advisors Small Cap Growth Fund
(NSATSmCapG)
Nationwide SAT - Small Cap Value Fund (NSATSmCapV)
Nationwide SAT - Small Company Fund (NSATSmCo)
Nationwide SAT - Strategic Growth Fund (NSATStrGro)
Nationwide SAT - Strategic Value Fund (NSATStrVal)
Nationwide SAT - Total Return Fund (NSATTotRe)
Portfolios of the Neuberger & Berman Advisers Management Trust
(Neuberger &Berman AMT);
Neuberger & Berman AMT - Guardian Portfolio (NBAMTGuard)
Neuberger & Berman AMT - Mid-Cap Growth Portfolio (NBAMTMCGr)
Neuberger & Berman AMT - Partners Portfolio (NBAMTPart)
Funds of the Oppenheimer Variable Account Funds (Oppenheimer VAF);
Oppenheimer VAF - Aggressive Growth Fund (OppAggGro)
Oppenheimer VAF - Capital Appreciation Fund (OppCapAp)
(formerly Oppenheimer VAF - Growth Fund)
Oppenheimer VAF - Main Street Growth & Income Fund (OppGrInc)
(formerly Oppenheimer VAF - Growth & Income Fund)
Funds of the Van Eck Worldwide Insurance Trust (Van Eck WIT);
Van Eck WIT - Worldwide Emerging Markets Fund (VEWrldEMkt)
Van Eck WIT - Worldwide Hard Assets Fund (VEWrldHAs)
Portfolio of the Van Kampen Life Investment Trust (Van
Kampen LIT);
Van Kampen LIT - Morgan Stanley Real Estate Securities Portfolio
(VKMSRESec)
Portfolio of the Victory Variable Insurance Funds ( Victory VIF);
Victory VIF - Diversified Stock Fund - Class A (VVIFDStk)
Victory VIF - Investment Quality Bond Fund - Class A (VVIFIQBd)
Victory VIF - Small Company Opportunity Fund - Class A
(VVIFSmCoOpp)
Portfolios of the Warburg Pincus Trust;
Warburg Pincus Trust - Growth & Income Portfolio (WPGrInc)
Warburg Pincus Trust - International Equity Portfolio (WPIntEq)
Warburg Pincus Trust - Post Venture Capital Portfolio
(WPPVenCap)
At December 31, 1999, contract owners have invested in all of the above
funds. The contract owners' equity is affected by the investment
results of each fund, equity transactions by contract owners and
certain contract expenses (see note 2).
The accompanying financial statements include only contract owners'
purchase payments pertaining to the variable portions of their
contracts and exclude any purchase payments for fixed dollar benefits,
the latter being included in the accounts of the Company.
A contract owner may choose from among a number of different underlying
mutual fund options. The underlying mutual fund options are not
available to the general public directly. The underlying mutual funds
are available as investment options in variable life insurance policies
or variable annuity contracts issued by life insurance companies or, in
some cases, through participation in certain qualified pension or
retirement plans.
Some of the underlying mutual funds have been established by investment
advisers which manage publicly traded mutual funds having similar names
and investment objectives. While some of the underlying mutual funds
may be similar to, and may in fact be modeled after, publicly traded
mutual funds, the underlying mutual funds are not otherwise directly
related to any publicly traded mutual fund. Consequently, the
investment performance of publicly traded mutual funds and any
corresponding underlying mutual funds may differ substantially.
(Continued)
19
<PAGE> 19
NATIONWIDE VARIABLE ACCOUNT-9
NOTES TO FINANCIAL STATEMENTS, CONTINUED
(c) Security Valuation, Transactions and Related Investment Income
The market value of the underlying mutual funds is based on the closing
net asset value per share at December 31, 1999. The cost of investments
sold is determined on the specific identification basis. Investment
transactions are accounted for on the trade date (date the order to buy
or sell is executed) and dividend income is recorded on the ex-dividend
date.
(d) Federal Income Taxes
Operations of the Account form a part of, and are taxed with,
operations of the Company which is taxed as a life insurance company
under the Internal Revenue Code.
The Company does not provide for income taxes within the Account. Taxes
are the responsibility of the contract owner upon termination or
withdrawal.
(e) Use of Estimates in the Preparation of Financial Statements
The preparation of financial statements in conformity with generally
accepted accounting principles may require management to make estimates
and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities, if
any, at the date of the financial statements and the reported amounts
of revenues and expenses during the reporting period. Actual results
could differ from those estimates.
(f) Calculation of Annuity Reserves
Annuity reserves are computed for contracts in the variable payout
stage according to industry standard mortality tables. The assumed
investment return is 3.5 percent unless the annuitant elects otherwise,
in which case the rate may vary from 3.5 percent to 7 percent, as
regulated by the laws of the respective states. The mortality risk is
fully borne by the Company and may result in additional amounts being
transferred into the Account by the Company to cover greater longevity
of annuitants than expected. Conversely, if reserves exceed amounts
required, transfers may be made to the Company.
(2) EXPENSES
(a) Sales Charges
The Company does not deduct a sales charge from purchase payments
received from the contract owners. However, if any part of the contract
value of such contracts is surrendered the Company will, with certain
exceptions, deduct from a contract owner's contract value a contingent
deferred sales charge.
On BOA Future, BOA V and BOA Choice contracts, the contingent deferred
sales charge will not exceed 7% of the lesser of purchase payments or
the amount surrendered, such charge declining to 0% after the purchase
payment has been held in the contract for 84 months. On IVA contracts,
the contingent deferred sales charge will not exceed 6% of the lesser
of purchase payments or the amount surrendered, such charge declining
to 0% after the purchase payment has been held in the contract for 84
months. No sales charges are deducted on BOA Exclusive II contracts.
No sales charges are deducted on redemptions used to purchase units in
the fixed investment options of the company.
20
<PAGE> 20
(b) Mortality and Expense Risk Charges
The Company deducts a mortality and expense risk charge assessed
through the daily unit value calculation as follows:
For the BOA Future contract, this charge ranges from an annual rate of
.95% to a maximum of 2.65% if all permissible rider options are
utilized. For this contract, the rider options include: (a) reduced
purchase payment; (b) five year CDSC; (c) CDSC waiver; (d) death
benefit; (e) guaranteed minimum income benefit and (f) purchase payment
bonus.
For the BOA Exclusive II contract, this charge ranges from an annual
rate of 1.20% to a maximum of 1.90% if all permissible rider options
are utilized. For this contract, the rider options include: (a) death
benefit and (b) guaranteed minimum income benefit.
For the BOA V contract, this charge ranges from an annual rate of 1.10%
to a maximum of 1.70% if all permissible rider options are utilized.
For this contract, the rider options include: (a) five year CDSC; (b)
CDSC waiver and (c) death benefit.
For the BOA Choice contract, this charge ranges from an annual rate of
1.20% to a maximum of 1.70% if all permissible rider options are
utilized. For this contract, the rider options include: (a) death
benefit and (b) guaranteed minimum income benefit.
For the IVA contract, this charge ranges from an annual rate of 1.25%
to a maximum of 1.45% if the death benefit option is utilized.
The rider options and permissible combinations and related charges for
the foregoing are described in the applicable product prospectus.
The following table provides mortality and expense risk charges by
asset fee rate for the year ended December 31, 1999:
<TABLE>
<CAPTION>
TOTAL ACVPIncGr ACVPInt ACVPValue DrySRGro
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
0.95% ............. $ 21,757,026 530,318 491,566 169,162 435,760
1.00% ............. 14,345,607 320,932 302,747 83,416 294,442
1.05% ............. 2,884,191 53,209 53,182 21,258 52,669
1.10% ............. 336,355 19,660 3,060 625 32,335
1.15% ............. 88,576 4,321 1,274 193 5,557
1.20% ............. 686,547 23,828 16,105 11,432 17,405
1.25% ............. 131,921 5,332 3,969 3,047 2,554
1.30% ............. 27,305 1,049 307 1 2,523
1.35% ............. 1,720 146 14 - 48
1.40% ............. 2,453,510 68,402 74,241 15,312 30,250
1.45% ............. 13,227 146 375 14 496
1.50% ............. 26,101 383 1,200 215 505
1.55% ............. 1,890 - 3 114 5
1.60% ............. 301 - - - 5
1.65% ............. 4,975 82 21 6 141
1.70% ............. 695 7 1 - 12
1.75% ............. 94 20 - 2 2
1.80% ............. 2 - - - -
------------ ------------ ------------ ------------ ------------
Total .......... $ 42,760,043 1,027,835 948,065 304,797 874,709
============ ============ ============ ============ ============
</TABLE>
(Continued)
21
<PAGE> 21
NATIONWIDE VARIABLE ACCOUNT-9
NOTES TO FINANCIAL STATEMENTS, CONTINUED
<TABLE>
<CAPTION>
DryStkix DryCapAp DryEuroEq FedQualBd FidVIPEIS
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
0.95% ............ $ 3,016,838 589,617 1,284 9,265 1,404,837
1.00% ............ 2,024,620 363,958 576 5,642 1,054,365
1.05% ............ 377,296 90,450 24 686 234,084
1.10% ............ 56,608 14,946 13 145 12,542
1.15% ............ 15,814 5,757 - 75 2,703
1.20% ............ 87,196 29,645 242 439 34,175
1.25% ............ 16,805 3,147 45 9 10,460
1.30% ............ 7,002 2,173 3 5 1,165
1.35% ............ 313 57 - - 24
1.40% ............ 305,698 55,571 275 3,590 86,918
1.45% ............ 1,705 314 - - 1,448
1.50% ............ 5,114 775 - 58 1,192
1.55% ............ 251 4 - - 210
1.60% ............ 71 - - - -
1.65% ............ 196 16 - 12 143
1.70% ............ 148 3 - - 46
1.75% ............ 28 6 - - -
1.80% ............ - - - - -
------------ ------------ ------------ ------------ ------------
Total ......... $ 5,915,703 1,156,439 2,462 19,926 2,844,312
============ ============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
FidVIPGrS FidVIPHIS FidVIPOvS FidVIPConS FidVIPGrOpS
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
0.95% ............ $ 1,493,811 745,195 242,387 1,313,821 747,075
1.00% ............ 1,070,697 456,701 131,511 875,110 619,622
1.05% ............ 186,137 142,636 34,707 141,335 100,891
1.10% ............ 32,456 5,464 974 28,621 4,981
1.15% ............ 9,401 1,244 251 4,870 636
1.20% ............ 80,167 13,927 9,541 67,792 24,590
1.25% ............ 12,973 3,815 2,593 7,593 3,367
1.30% ............ 1,883 167 35 2,627 129
1.35% ............ 130 13 10 56 5
1.40% ............ 209,213 89,860 44,059 120,968 74,271
1.45% ............ 1,510 115 72 391 52
1.50% ............ 2,173 393 385 2,165 664
1.55% ............ 231 17 3 122 95
1.60% ............ 73 - - - -
1.65% ............ 2,216 8 9 281 13
1.70% ............ 200 - 2 79 3
1.75% ............ 3 - - 10 -
1.80% ............ 1 - - - -
------------ ------------ ------------ ------------ ------------
Total ......... $ 3,103,275 1,459,555 466,539 2,565,841 1,576,394
============ ============ ============ ============ ============
</TABLE>
22
<PAGE> 22
<TABLE>
<CAPTION>
MSEmMkt NSATBal NSATCapAp NSATEqInc NSATGlobEq
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
0.95% ............ $ 27,299 309,458 1,481,740 92,487 120,101
1.00% ............ 10,632 207,599 933,311 76,651 78,975
1.05% ............ 3,619 38,488 161,644 13,852 18,186
1.10% ............ 79 2,657 23,382 325 1,292
1.15% ............ 25 500 10,326 128 233
1.20% ............ 2,260 4,301 36,734 3,120 4,014
1.25% ............ 44 666 5,016 159 1,475
1.30% ............ - 381 1,371 6 26
1.35% ............ - 44 125 - 1
1.40% ............ 3,278 13,748 110,388 3,561 19,763
1.45% ............ - 94 539 20 27
1.50% ............ - 166 610 113 140
1.55% ............ - - 115 - 54
1.60% ............ - - 63 - -
1.65% ............ 4 11 722 17 -
1.70% ............ - 1 1 6 -
1.75% ............ - - - 6 -
1.80% ............ - - - - -
------------ ------------ ------------ ------------ ------------
Total ......... $ 47,240 578,114 2,766,087 190,451 244,287
============ ============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
NSATGvtBd NSATHIncBd NSATMyMkt NSATMSecBd NSATMidCap
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
0.95% ............ $ 990,037 204,521 1,352,383 235,173 50,518
1.00% ............ 643,567 144,262 794,629 151,781 34,803
1.05% ............ 154,193 49,974 208,688 47,907 9,262
1.10% ............ 9,747 598 10,654 233 512
1.15% ............ 5,137 202 1,159 274 76
1.20% ............ 10,538 3,088 56,604 2,859 891
1.25% ............ 4,554 609 8,624 239 61
1.30% ............ 224 11 69 19 2
1.35% ............ 6 - 584 - -
1.40% ............ 96,366 26,223 566,291 23,247 4,046
1.45% ............ 433 118 1,006 24 -
1.50% ............ 583 132 3,134 28 27
1.55% ............ 9 5 - - 92
1.60% ............ 5 3 - - -
1.65% ............ 8 48 166 61 3
1.70% ............ - - 3 - -
1.75% ............ 4 - - - -
1.80% ............ - - - - -
------------ ------------ ------------ ------------ ------------
Total ......... $ 1,915,411 429,794 3,003,994 461,845 100,293
============ ============ ============ ============ ============
</TABLE>
(Continued)
23
<PAGE> 23
NATIONWIDE VARIABLE ACCOUNT-9
NOTES TO FINANCIAL STATEMENTS, CONTINUED
<TABLE>
<CAPTION>
NSATSmCapG NSATSmCapV NSATSmCo NSATStrGro NSATStrVal
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
0.95% ............. $ 8,888 254,795 307,391 158,226 82,767
1.00% ............. 4,485 127,478 192,099 77,342 35,717
1.05% ............. 1,287 33,249 35,675 12,673 12,621
1.10% ............. 44 2,654 1,852 2,093 156
1.15% ............. 8 618 452 430 63
1.20% ............. 622 4,811 4,691 7,476 742
1.25% ............. 211 1,208 1,319 2,035 153
1.30% ............. 2 60 96 60 1
1.35% ............. - 5 4 - -
1.40% ............. 1,371 22,257 46,795 18,687 2,893
1.45% ............. 87 139 32 207 127
1.50% ............. 270 260 277 547 222
1.55% ............. - - - 2 -
1.60% ............. - 2 - 4 -
1.65% ............. - - - 38 -
1.70% ............. - - 2 8 -
1.75% ............. - - - - -
1.80% ............. - - - - -
------------ ------------ ------------ ------------ ------------
Total .......... $ 17,275 447,536 590,685 279,828 135,462
============ ============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
NSATTotRe NBAMTGuard NBAMTMCGr NBAMTPart OppAggGro
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
0.95% ............. $ 2,108,337 236,980 248,428 624,656 295,789
1.00% ............. 1,452,523 185,756 158,289 449,076 162,366
1.05% ............. 227,585 42,007 38,476 71,153 32,685
1.10% ............. 38,153 4,898 5,110 2,579 4,818
1.15% ............. 10,041 844 698 929 1,135
1.20% ............. 18,885 10,395 14,834 9,160 11,285
1.25% ............. 6,859 675 1,521 3,516 4,384
1.30% ............. 3,288 305 333 158 347
1.35% ............. 95 - 1 - 2
1.40% ............. 71,871 26,977 18,251 19,974 47,983
1.45% ............. 1,957 49 204 186 498
1.50% ............. 671 212 411 120 677
1.55% ............. 336 3 105 12 3
1.60% ............. - - - - -
1.65% ............. 31 1 17 21 101
1.70% ............. 51 - 7 - 25
1.75% ............. 5 - - - -
1.80% ............. 1 - - - -
------------ ------------ ------------ ------------ ------------
Total .......... $ 3,940,689 509,102 486,685 1,181,540 562,098
============ ============ ============ ============ ============
</TABLE>
24
<PAGE> 24
<TABLE>
<CAPTION>
OppCapAp OppGrinc VEWrldEMkt VEWrldHAs VKMSRESec
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
0.95% ............ $ 453,566 404,018 73,513 25,572 116,110
1.00% ............ 293,967 285,168 35,483 12,580 57,784
1.05% ............ 51,851 65,935 9,350 3,386 11,719
1.10% ............ 6,885 3,782 420 141 260
1.15% ............ 1,555 1,173 69 28 74
1.20% ............ 19,500 18,378 3,124 1,337 3,074
1.25% ............ 3,703 5,683 713 161 109
1.30% ............ 1,025 295 21 37 22
1.35% ............ 32 5 - - -
1.40% ............ 38,023 35,301 12,356 3,827 6,216
1.45% ............ 96 598 105 8 -
1.50% ............ 958 835 11 17 19
1.55% ............ - 95 - - -
1.60% ............ 72 - - - -
1.65% ............ 70 282 - - -
1.70% ............ 9 75 - - -
1.75% ............ 6 1 - - -
1.80% ............ - - - - -
------------ ------------ ------------ ------------ ------------
Total ......... $ 871,318 821,624 135,165 47,094 195,387
============ ============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
VVIFDStk VVIFIQBd VVIFSmCoOpp WPGrInc WPintEq
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
0.95% ............ $ - - - 107,503 137,775
1.00% ............ - - - 50,145 61,839
1.05% ............ - - - 13,682 15,866
1.10% ............ - - - 129 177
1.15% ............ - - - 122 181
1.20% ............ 7,367 1,387 850 1,775 3,193
1.25% ............ 73 17 14 349 1,728
1.30% ............ - - - - 5
1.35% ............ - - - - -
1.40% ............ - - - 4,093 24,158
1.45% ............ - - - - 35
1.50% ............ 115 5 10 196 113
1.55% ............ - - - 4 -
1.60% ............ - - - - 3
1.65% ............ 109 61 15 - 44
1.70% ............ - - - 6 -
1.75% ............ - - - 1 -
1.80% ............ - - - - -
------------ ------------ ------------ ------------ ------------
Total ......... $ 7,664 1,470 889 178,005 245,117
============ ============ ============ ============ ============
</TABLE>
(Continued)
25
<PAGE> 25
NATIONWIDE VARIABLE ACCOUNT-9
NOTES TO FINANCIAL STATEMENTS, CONTINUED
WPPVenCap
------------
0.95% ............ $ 58,059
1.00% ............ 22,961
1.05% ............ 10,614
1.10% ............ 295
1.15% ............ -
1.20% ............ 2,768
1.25% ............ 334
1.30% ............ 72
1.35% ............ -
1.40% ............ 6,938
1.45% ............ -
1.50% ............ -
1.55% ............ -
1.60% ............ -
1.65% ............ 1
1.70% ............ -
1.75% ............ -
1.80% ............ -
------------
Total ......... $ 102,042
============
The following table provides mortality and expense risk charges by
asset fee rate for the year ended December 31, 1998:
<TABLE>
<CAPTION>
TOTAL ACVPIncGr ACVPint ACVPValue DrySRGro
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
0.95% ............ $ 6,687,096 104,919 135,323 68,970 87,632
1.00% ............ 4,480,001 64,746 74,971 44,443 63,281
1.05% ............ 1,009,646 13,006 14,635 8,106 13,367
1.10% ............ 909 46 9 4 51
1.15% ............ 244 14 9 - 15
1.20% ............ 1,510 19 2 24 13
1.25% ............ 131 - - 2 15
1.30% ............ 50 - - - 6
1.35% ............ 37 - 4 - -
------------ ------------ ------------ ------------ ------------
Total ......... $ 12,179,624 182,750 224,953 121,549 164,380
============ ============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
DryStkix DryCapAp FidVIPEIS FidVIPGrS FidVIPHIS
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
0.95% ............ $ 736,785 111,207 505,712 212,170 294,475
1.00% ............ 495,327 62,252 395,500 166,839 193,581
1.05% ............ 102,440 17,737 90,638 35,112 58,296
1.10% ............ 137 62 58 51 22
1.15% ............ 51 27 7 10 5
1.20% ............ 305 19 41 99 16
1.25% ............ 30 - 22 6 -
1.30% ............ 2 4 14 1 -
1.35% ............ 5 4 - - 4
------------ ------------ ------------ ------------ ------------
Total ......... $ 1,335,082 191,312 991,992 414,288 546,399
============ ============ ============ ============ ============
</TABLE>
26
<PAGE> 26
<TABLE>
<CAPTION>
FidVIPOvS FidVIPCOnS FidVIPGrOpS MSEmMkt NSATBal
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
0.95% ............ $ 70,614 299,506 225,407 13,756 90,403
1.00% ............ 42,096 193,026 198,453 5,701 70,281
1.05% ............ 13,142 37,910 34,785 1,939 15,676
1.10% ............ - 67 23 - 11
1.15% ............ 2 15 - - 7
1.20% ............ 32 115 7 8 9
1.25% ............ - - - 1 -
1.30% ............ - 2 - - 1
1.35% ............ - - - - -
------------ ------------ ------------ ------------ ------------
Total ......... $ 125,886 530,641 458,675 21,405 176,388
============ ============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
NSATCapAp NSATEqinc NSATGlobEq NSATGvtBd NSATHIncBd
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
0.95% ............ $ 465,341 34,439 39,570 325,601 70,627
1.00% ............ 270,821 27,139 28,746 228,102 51,930
1.05% ............ 52,969 5,129 8,199 64,068 17,784
1.10% ............ 81 - 5 51 -
1.15% ............ 20 1 - 13 -
1.20% ............ 17 18 - 11 14
1.25% ............ - - 2 14 1
1.30% ............ - - - 1 -
1.35% ............ - - - - -
------------ ------------ ------------ ------------ ------------
Total ......... $ 789,249 66,726 76,522 617,861 140,356
============ ============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
NSATMyMkt NSATMSecBd NSATMidCap NSATSmCapV NSATSmCo
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
0.95% ............ $ 597,802 95,878 20,251 83,736 117,084
1.00% ............ 367,633 61,058 14,445 45,868 81,828
1.05% ............ 112,880 20,762 4,536 9,629 15,866
1.10% ............ 56 2 9 7 7
1.15% ............ 1 - - 4 -
1.20% ............ 530 20 - 35 -
1.25% ............ - 1 - 2 -
1.30% ............ - 1 - - -
1.35% ............ 16 - - - -
------------ ------------ ------------ ------------ ------------
Total ......... $ 1,078,918 177,722 39,241 139,281 214,785
============ ============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
NSATStrGro NSATStrVal NSATTotRe NBAMTGuard NBAMTMCGr
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
0.95% ............ $ 27,226 41,771 790,615 72,339 60,842
1.00% ............ 13,699 23,731 504,264 65,593 55,230
1.05% ............ 3,029 7,171 88,737 12,071 11,986
1.10% ............ 12 1 65 10 1
1.15% ............ - - 29 - -
1.20% ............ - 9 28 - 4
1.25% ............ - - 9 - -
1.30% ............ 1 - 8 - -
1.35% ............ - - 4 - -
------------ ------------ ------------ ------------ ------------
Total ......... $ 43,967 72,683 1,383,759 150,013 128,063
============ ============ ============ ============ ============
</TABLE>
(Continued)
27
<PAGE> 27
NATIONWIDE VARIABLE ACCOUNT-9
NOTES TO FINANCIAL STATEMENTS, CONTINUED
<TABLE>
<CAPTION>
NBAMTPart OppAggGro OppCapAp OppGrinc VEWrldEMkt
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
0.95% ............ $ 403,079 66,368 97,646 118,139 15,766
1.00% ............ 264,681 43,278 61,251 87,278 11,953
1.05% ............ 43,176 9,592 15,113 21,510 2,830
1.10% ............ 16 7 5 18 -
1.15% ............ 3 2 2 5 -
1.20% ............ 17 26 6 26 14
1.25% ............ 3 5 6 - -
1.30% ............ - 4 1 4 -
1.35% ............ - - - - -
------------ ------------ ------------ ------------ ------------
Total ......... $ 710,975 119,282 174,030 226,980 30,563
============ ============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
VEWrldHAs VKMSRESec WPGrinc WPIntEq WPPVenCap
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
0.95% ............ $ 8,058 67,026 39,367 53,651 17,995
1.00% ............ 3,644 39,789 19,708 28,614 9,221
1.05% ............ 1,503 7,635 6,454 7,209 3,019
1.10% ............ 5 8 2 - -
1.15% ............ - 2 - - -
1.20% ............ - 26 - - -
1.25% ............ - - 6 - 6
1.30% ............ - - - - -
1.35% ............ - - - - -
------------ ------------ ------------ ------------ ------------
Total ......... $ 13,210 114,486 65,537 89,474 30,241
============ ============ ============ ============ ============
</TABLE>
(3) RELATED PARTY TRANSACTIONS
The Company performs various services on behalf of the Mutual Fund
Companies in which the Account invests and may receive fees for the
services performed. These services include, among other things, shareholder
communications, preparation, postage, fund transfer agency and various
other record keeping and customer service functions. These fees are paid to
an affiliate of the Company.
28
<PAGE> 28
(4) COMPONENTS OF CONTRACT OWNERS' EQUITY
The following is a summary of contract owners' equity at December 31, 1999.
<TABLE>
<CAPTION>
ANNUAL
Contract owners' equity represented by: UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Contracts in accumulation phase:
Asset fee @ 0.95% rate:
American Century VP -
American Century VP Income & Growth:
Tax Qualified .............................. 2,690,998 15.291612 41,149,697 17%
Non-tax Qualified .......................... 2,833,886 15.291612 43,334,685 17%
American Century VP -
American Century VP International:
Tax Qualified .............................. 2,425,184 19.282175 46,762,822 62%
Non-tax Qualified .......................... 2,784,977 19.282175 53,700,414 62%
American Century VP -
American Century VP Value:
Tax Qualified .............................. 954,736 10.498316 10,023,120 (2)%
Non-tax Qualified .......................... 1,026,271 10.498316 10,774,117 (2)%
The Dreyfus Socially Responsible
Growth Fund, Inc.:
Tax Qualified .............................. 2,847,028 16.794438 47,814,235 29%
Non-tax Qualified .......................... 2,125,519 16.794438 35,696,897 29%
Dreyfus Stock Index Fund:
Tax Qualified .............................. 14,498,220 15.692141 227,508,112 19%
Non-tax Qualified .......................... 15,265,955 15.692141 239,555,518 19%
Dreyfus VIF -
Capital Appreciation Portfolio:
Tax Qualified .............................. 2,549,775 14.595134 37,214,308 10%
Non-tax Qualified .......................... 3,204,478 14.595134 46,769,786 10%
Dreyfus VIF -
European Equity Fund:
Tax Qualified .............................. 41,766 12.898688 538,727 29%(a)
Non-tax Qualified .......................... 54,269 12.898688 699,999 29%(a)
Federated Insurance Series -
Federated Quality Bond Fund II:
Tax Qualified .............................. 179,065 9.806807 1,756,056 (2)%(a)
Non-tax Qualified .......................... 169,575 9.806807 1,662,989 (2)%(a)
Fidelity VIP - Equity-Income Portfolio -
Service Class:
Tax Qualified .............................. 7,672,595 12.021290 92,234,490 5%
Non-tax Qualified .......................... 7,100,475 12.021290 85,356,869 5%
Fidelity VIP - Growth Portfolio -
Service Class:
Tax Qualified .............................. 7,650,757 18.830990 144,071,329 36%
Non-tax Qualified .......................... 7,754,684 18.830990 146,028,377 36%
Fidelity VIP - High Income Portfolio -
Service Class:
Tax Qualified .............................. 4,486,911 10.262325 46,046,139 7%
Non-tax Qualified .......................... 4,783,500 10.262325 49,089,832 7%
</TABLE>
(Continued)
29
<PAGE> 29
NATIONWIDE VARIABLE ACCOUNT-9
NOTES TO FINANCIAL STATEMENTS, CONTINUED
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Fidelity VIP - Overseas Portfolio -
Service Class:
Tax Qualified ............................... 1,153,906 15.589761 17,989,119 41%
Non-tax Qualified ........................... 1,895,187 15.589761 29,545,512 41%
Fidelity VIP-II - Contrafund Portfolio -
Service Class:
Tax Qualified ............................... 6,845,562 15.755094 107,852,473 23%
Non-tax Qualified ........................... 6,862,565 15.755094 108,120,357 23%
Fidelity VIP-III - Growth Opportunities
Portfolio - Service Class:
Tax Qualified ............................... 3,626,724 13.235715 48,002,285 3%
Non-tax Qualified ........................... 3,948,998 13.235715 52,267,812 3%
Morgan Stanley -
Emerging Markets Debt Portfolio:
Tax Qualified ............................... 177,847 9.477539 1,685,552 28%
Non-tax Qualified ........................... 212,802 9.477539 2,016,839 28%
Nationwide SAT - Balanced Fund:
Tax Qualified ............................... 1,986,315 10.834304 21,520,341 0%
Non-tax Qualified ........................... 1,732,414 10.834304 18,769,500 0%
Nationwide SAT -
Capital Appreciation Fund:
Tax Qualified ............................... 7,218,822 13.808913 99,684,085 3%
Non-tax Qualified ........................... 6,364,816 13.808913 87,891,190 3%
Nationwide SAT - Equity Income Fund:
Tax Qualified ............................... 416,097 13.600816 5,659,259 17%
Non-tax Qualified ........................... 528,751 13.600816 7,191,445 17%
Nationwide SAT - Global Equity Fund:
Tax Qualified ............................... 567,148 14.515197 8,232,265 22%
Non-tax Qualified ........................... 697,119 14.515197 10,118,820 22%
Nationwide SAT -
Government Bond Fund:
Tax Qualified ............................... 6,202,151 10.583479 65,640,335 (3)%
Non-tax Qualified ........................... 5,468,943 10.583479 57,880,443 (3)%
Nationwide SAT -
High Income Bond Fund:
Tax Qualified ............................... 1,052,700 10.938415 11,514,869 2%
Non-tax Qualified ........................... 1,171,631 10.938415 12,815,786 2%
Nationwide SAT - Money Market Fund:
Tax Qualified ............................... 8,459,558 10.909142 92,286,519 4%
Non-tax Qualified ........................... 7,978,115 10.909142 87,034,389 4%
Nationwide SAT -
Multi Sector Bond Fund:
Tax Qualified ............................... 1,525,742 10.313452 15,735,667 1%
Non-tax Qualified ........................... 1,426,549 10.313452 14,712,645 1%
Nationwide SAT -
Select Advisers Mid Cap Fund:
Tax Qualified ............................... 287,257 13.078919 3,757,011 20%
Non-tax Qualified ........................... 273,331 13.078919 3,574,874 20%
</TABLE>
30
<PAGE> 30
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Nationwide SAT -
Select Advisers Small Cap Growth Fund:
Tax Qualified ............................... 123,064 20.372476 2,507,118 104%(a)
Non-tax Qualified ........................... 175,712 20.372476 3,579,689 104%(a)
Nationwide SAT - Small Cap Value Fund:
Tax Qualified ............................... 1,560,795 11.943543 18,641,422 27%
Non-tax Qualified ........................... 1,724,288 11.943543 20,594,108 27%
Nationwide SAT - Small Company Fund:
Tax Qualified ............................... 1,832,595 13.720318 25,143,786 43%
Non-tax Qualified ........................... 1,989,069 13.720318 27,290,659 43%
Nationwide SAT - Strategic Growth Fund:
Tax Qualified ............................... 992,231 21.195607 21,030,938 83%
Non-tax Qualified ........................... 1,218,089 21.195607 25,818,136 83%
Nationwide SAT - Strategic Value Fund:
Tax Qualified ............................... 349,117 9.687523 3,382,079 (4)%
Non-tax Qualified ........................... 506,067 9.687523 4,902,536 (4)%
Nationwide SAT - Total Return Fund:
Tax Qualified ............................... 12,724,239 12.689484 161,464,027 6%
Non-tax Qualified ........................... 8,751,347 12.689484 111,050,078 6%
Neuberger & Berman AMT -
Guardian Portfolio:
Tax Qualified ............................... 961,809 15.595438 14,999,833 14%
Non-tax Qualified ........................... 980,827 15.595438 15,296,427 14%
Neuberger & Berman AMT -
Mid-Cap Growth Portfolio:
Tax Qualified ............................... 1,006,419 24.609353 24,767,320 52%
Non-tax Qualified ........................... 1,117,405 24.609353 27,498,614 52%
Neuberger & Berman AMT -
Partners Portfolio:
Tax Qualified ............................... 3,101,826 11.122733 34,500,782 6%
Non-tax Qualified ........................... 2,953,135 11.122733 32,846,932 6%
Oppenheimer VAF -
Aggressive Growth Fund:
Tax Qualified ............................... 1,788,303 19.295630 34,506,433 82%
Non-tax Qualified ........................... 1,959,307 19.295630 37,806,063 82%
Oppenheimer VAF -
Capital Appreciation Fund:
Tax Qualified ............................... 2,455,900 16.935851 41,592,756 40%
Non-tax Qualified ........................... 2,580,016 16.935851 43,694,767 40%
Oppenheimer VAF -
Main Street Growth & Income Fund:
Tax Qualified ............................... 2,722,872 12.826564 34,925,092 21%
Non-tax Qualified ........................... 2,648,768 12.826564 33,974,592 21%
Van Eck WIT -
Worldwide Emerging Markets Fund:
Tax Qualified ............................... 710,892 11.409242 8,110,739 98%
Non-tax Qualified ........................... 942,982 11.409242 10,758,710 98%
</TABLE>
(Continued)
31
<PAGE> 31
NATIONWIDE VARIABLE ACCOUNT-9
NOTES TO FINANCIAL STATEMENTS, CONTINUED
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Van Eck WIT -
Worldwide Hard Assets Fund:
Tax Qualified .............................. 220,914 7.358645 1,625,628 20%
Non-tax Qualified .......................... 195,186 7.358645 1,436,304 20%
Van Kampen LIT - Morgan Stanley
Real Estate Securities Portfolio:
Tax Qualified .............................. 685,816 8.662065 5,940,583 (4)%
Non-tax Qualified .......................... 759,304 8.662065 6,577,141 (4)%
Warburg Pincus Trust -
Growth & Income Portfolio:
Tax Qualified .............................. 378,228 12.124398 4,585,787 5%
Non-tax Qualified .......................... 450,717 12.124398 5,464,672 5%
Warburg Pincus Trust -
International Equity Portfolio:
Tax Qualified .............................. 686,977 14.993656 10,300,297 52%
Non-tax Qualified .......................... 890,352 14.993656 13,349,632 52%
Warburg Pincus Trust -
Post Venture Capital Portfolio:
Tax Qualified .............................. 336,738 16.833540 5,668,493 62%
Non-tax Qualified .......................... 423,065 16.833540 7,121,682 62%
Asset fee @ 1.00% rate:
American Century VP -
American Century VP Income & Growth:
Tax Qualified .............................. 1,586,053 15.274980 24,226,928 17%
Non-tax Qualified .......................... 1,607,606 15.274980 24,556,149 17%
American Century VP -
American Century VP International:
Tax Qualified .............................. 1,533,035 19.261196 29,528,088 62%
Non-tax Qualified .......................... 1,546,288 19.261196 29,783,356 62%
American Century VP -
American Century VP Value:
Tax Qualified .............................. 468,087 10.486868 4,908,767 (2)%
Non-tax Qualified .......................... 477,945 10.486868 5,012,146 (2)%
The Dreyfus Socially Responsible
Growth Fund, Inc.:
Tax Qualified .............................. 1,646,571 16.776156 27,623,132 29%
Non-tax Qualified .......................... 1,408,453 16.776156 23,628,427 29%
Dreyfus Stock Index Fund:
Tax Qualified .............................. 10,096,625 15.675065 158,265,253 19%
Non-tax Qualified .......................... 9,009,878 15.675065 141,230,423 19%
Dreyfus VIF -
Capital Appreciation Portfolio:
Tax Qualified .............................. 1,765,804 14.579248 25,744,094 10%
Non-tax Qualified .......................... 1,673,895 14.579248 24,404,130 10%
Dreyfus VIF -
European Equity Fund:
Tax Qualified .............................. 22,852 12.897004 294,722 29%(a)
Non-tax Qualified .......................... 12,111 12.897004 156,196 29%(a)
</TABLE>
32
<PAGE> 32
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Federated Insurance Series -
Federated Quality Bond Fund II:
Tax Qualified .............................. 84,481 9.803523 828,211 (2)%(a)
Non-tax Qualified .......................... 137,958 9.803523 1,352,474 (2)%(a)
Fidelity VIP - Equity-Income Portfolio -
Service Class:
Tax Qualified .............................. 5,052,392 12.008202 60,670,144 5%
Non-tax Qualified .......................... 5,482,699 12.008202 65,837,357 5%
Fidelity VIP - Growth Portfolio -
Service Class:
Tax Qualified .............................. 5,450,461 18.810518 102,525,995 36%
Non-tax Qualified .......................... 4,942,338 18.810518 92,967,938 36%
Fidelity VIP - High Income Portfolio -
Service Class:
Tax Qualified .............................. 2,467,569 10.251150 25,295,420 7%
Non-tax Qualified .......................... 2,678,471 10.251150 27,457,408 7%
Fidelity VIP - Overseas Portfolio -
Service Class:
Tax Qualified .............................. 754,434 15.572798 11,748,648 41%
Non-tax Qualified .......................... 703,108 15.572798 10,949,359 41%
Fidelity VIP-II - Contrafund Portfolio -
Service Class:
Tax Qualified .............................. 4,360,828 15.737973 68,630,593 23%
Non-tax Qualified .......................... 4,271,544 15.737973 67,225,444 23%
Fidelity VIP-III - Growth Opportunities
Portfolio - Service Class:
Tax Qualified .............................. 2,904,875 13.221287 38,406,186 3%
Non-tax Qualified .......................... 2,903,624 13.221287 38,389,646 3%
Morgan Stanley -
Emerging Markets Debt Portfolio:
Tax Qualified .............................. 82,636 9.467196 782,331 28%
Non-tax Qualified .......................... 69,175 9.467196 654,893 28%
Nationwide SAT - Balanced Fund:
Tax Qualified .............................. 1,274,299 10.822502 13,791,103 0%
Non-tax Qualified .......................... 1,025,400 10.822502 11,097,394 0%
Nationwide SAT -
Capital Appreciation Fund:
Tax Qualified .............................. 4,491,316 13.793878 61,952,665 3%
Non-tax Qualified .......................... 3,382,879 13.793878 46,663,020 3%
Nationwide SAT - Equity Income Fund:
Tax Qualified .............................. 328,594 13.586032 4,464,289 17%
Non-tax Qualified .......................... 411,828 13.586032 5,595,108 17%
Nationwide SAT - Global Equity Fund:
Tax Qualified .............................. 331,568 14.499401 4,807,537 22%
Non-tax Qualified .......................... 402,444 14.499401 5,835,197 22%
Nationwide SAT -
Government Bond Fund:
Tax Qualified .............................. 3,887,245 10.571951 41,095,764 (3)%
Non-tax Qualified .......................... 3,354,315 10.571951 35,461,654 (3)%
</TABLE>
(Continued)
33
<PAGE> 33
NATIONWIDE VARIABLE ACCOUNT-9
NOTES TO FINANCIAL STATEMENTS, CONTINUED
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Nationwide SAT -
High Income Bond Fund:
Tax Qualified .............................. 729,292 10.926498 7,968,608 2%
Non-tax Qualified .......................... 771,554 10.926498 8,430,383 2%
Nationwide SAT - Money Market Fund:
Tax Qualified .............................. 4,438,660 10.897217 48,369,041 4%
Non-tax Qualified .......................... 4,647,437 10.897217 50,644,129 4%
Nationwide SAT -
Multi Sector Bond Fund:
Tax Qualified .............................. 895,547 10.302225 9,226,127 1%
Non-tax Qualified .......................... 867,916 10.302225 8,941,466 1%
Nationwide SAT -
Select Advisers Mid Cap Fund:
Tax Qualified .............................. 180,877 13.064679 2,363,100 20%
Non-tax Qualified .......................... 171,721 13.064679 2,243,480 20%
Nationwide SAT - Select Advisers
Small Cap Growth Fund:
Tax Qualified .............................. 78,533 20.365684 1,599,378 104%(a)
Non-tax Qualified .......................... 81,709 20.365684 1,664,060 104%(a)
Nationwide SAT - Small Cap Value Fund:
Tax Qualified .............................. 750,886 11.930542 8,958,477 27%
Non-tax Qualified .......................... 704,595 11.930542 8,406,200 27%
Nationwide SAT - Small Company Fund:
Tax Qualified .............................. 1,081,909 13.705373 14,827,966 43%
Non-tax Qualified .......................... 1,081,295 13.705373 14,819,551 43%
Nationwide SAT - Strategic Growth Fund:
Tax Qualified .............................. 513,063 21.172544 10,862,849 83%
Non-tax Qualified .......................... 614,259 21.172544 13,005,426 83%
Nationwide SAT - Strategic Value Fund:
Tax Qualified .............................. 166,391 9.676976 1,610,162 (4)%
Non-tax Qualified .......................... 222,806 9.676976 2,156,088 (4)%
Nationwide SAT - Total Return Fund:
Tax Qualified .............................. 8,158,035 12.675660 103,408,478 6%
Non-tax Qualified .......................... 6,056,435 12.675660 76,769,311 6%
Neuberger & Berman AMT -
Guardian Portfolio:
Tax Qualified .............................. 735,905 15.578481 11,464,282 14%
Non-tax Qualified .......................... 627,956 15.578481 9,782,601 14%
Neuberger & Berman AMT -
Mid-Cap Growth Portfolio:
Tax Qualified .............................. 625,238 24.582570 15,369,957 52%
Non-tax Qualified .......................... 647,732 24.582570 15,922,917 52%
Neuberger & Berman AMT -
Partners Portfolio:
Tax Qualified .............................. 2,114,112 11.110632 23,489,120 6%
Non-tax Qualified .......................... 2,074,401 11.110632 23,047,906 6%
</TABLE>
34
<PAGE> 34
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Oppenheimer VAF -
Aggressive Growth Fund:
Tax Qualified .............................. 992,375 19.274630 19,127,661 82%
Non-tax Qualified .......................... 1,028,055 19.274630 19,815,380 82%
Oppenheimer VAF -
Capital Appreciation Fund:
Tax Qualified .............................. 1,696,031 16.917425 28,692,477 40%
Non-tax Qualified .......................... 1,605,365 16.917425 27,158,642 40%
Oppenheimer VAF -
Main Street Growth & Income Fund:
Tax Qualified .............................. 1,667,923 12.812596 21,370,424 20%
Non-tax Qualified .......................... 1,778,201 12.812596 22,783,371 20%
Van Eck WIT -
Worldwide Emerging Markets Fund:
Tax Qualified .............................. 357,687 11.396847 4,076,504 98%
Non-tax Qualified .......................... 359,944 11.396847 4,102,227 98%
Van Eck WIT -
Worldwide Hard Assets Fund:
Tax Qualified .............................. 116,193 7.350618 854,090 20%
Non-tax Qualified .......................... 100,478 7.350618 738,575 20%
Van Kampen LIT - Morgan Stanley
Real Estate Securities Portfolio:
Tax Qualified .............................. 385,417 8.652617 3,334,866 (4)%
Non-tax Qualified .......................... 264,581 8.652617 2,289,318 (4)%
Warburg Pincus Trust -
Growth & Income Portfolio:
Tax Qualified .............................. 192,234 12.111181 2,328,181 5%
Non-tax Qualified .......................... 262,414 12.111181 3,178,143 5%
Warburg Pincus Trust -
International Equity Portfolio:
Tax Qualified .............................. 290,968 14.977312 4,357,919 52%
Non-tax Qualified .......................... 329,905 14.977312 4,941,090 52%
Warburg Pincus Trust -
Post Venture Capital Portfolio:
Tax Qualified .............................. 169,900 16.815230 2,856,908 62%
Non-tax Qualified .......................... 133,486 16.815230 2,244,598 62%
Asset fee @ 1.05% rate:
American Century VP -
American Century VP Income & Growth:
Tax Qualified .............................. 198,463 15.258324 3,028,213 17%
Non-tax Qualified .......................... 322,820 15.258324 4,925,692 17%
American Century VP -
American Century VP International:
Tax Qualified .............................. 179,327 19.240268 3,450,300 62%
Non-tax Qualified .......................... 314,342 19.240268 6,048,024 62%
American Century VP -
American Century VP Value:
Tax Qualified .............................. 100,979 10.475442 1,057,800 (2)%
Non-tax Qualified .......................... 110,453 10.475442 1,157,044 (2)%
</TABLE>
(Continued)
35
<PAGE> 35
NATIONWIDE VARIABLE ACCOUNT-9
NOTES TO FINANCIAL STATEMENTS, CONTINUED
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
The Dreyfus Socially Responsible
Growth Fund, Inc.:
Tax Qualified ............................... 190,962 16.757880 3,200,118 29%
Non-tax Qualified ........................... 323,823 16.757880 5,426,587 29%
Dreyfus Stock Index Fund:
Tax Qualified ............................... 1,431,726 15.657978 22,417,934 19%
Non-tax Qualified ........................... 1,815,547 15.657978 28,427,795 19%
Dreyfus VIF -
Capital Appreciation Portfolio:
Tax Qualified ............................... 347,448 14.563385 5,060,019 10%
Non-tax Qualified ........................... 488,188 14.563385 7,109,670 10%
Dreyfus VIF - European Equity Fund:
Tax Qualified ............................... 888 12.895311 11,451 29%(a)
Non-tax Qualified ........................... 1,301 12.895311 16,777 29%(a)
Federated Insurance Series -
Federated Quality Bond Fund II:
Tax Qualified ............................... 13,067 9.800240 128,060 (2)%(a)
Non-tax Qualified ........................... 13,067 9.800240 128,060 (2)%(a)
Fidelity VIP - Equity-Income Portfolio -
Service Class:
Tax Qualified ............................... 828,159 11.995103 9,933,853 5%
Non-tax Qualified ........................... 1,450,150 11.995103 17,394,699 5%
Fidelity VIP - Growth Portfolio -
Service Class:
Tax Qualified ............................... 624,895 18.790040 11,741,802 36%
Non-tax Qualified ........................... 990,036 18.790040 18,602,816 36%
Fidelity VIP - High Income Portfolio -
Service Class:
Tax Qualified ............................... 763,280 10.239981 7,815,973 7%
Non-tax Qualified ........................... 837,266 10.239981 8,573,588 7%
Fidelity VIP - Overseas Portfolio -
Service Class:
Tax Qualified ............................... 146,217 15.555856 2,274,531 41%
Non-tax Qualified ........................... 210,666 15.555856 3,277,090 41%
Fidelity VIP-II - Contrafund Portfolio -
Service Class:
Tax Qualified ............................... 509,735 15.720833 8,013,459 23%
Non-tax Qualified ........................... 791,505 15.720833 12,443,118 23%
Fidelity VIP-III - Growth Opportunities
Portfolio - Service Class:
Tax Qualified ............................... 427,715 13.206894 5,648,787 3%
Non-tax Qualified ........................... 467,419 13.206894 6,173,153 3%
Morgan Stanley -
Emerging Markets Debt Portfolio:
Tax Qualified ............................... 20,165 9.456874 190,698 28%
Non-tax Qualified ........................... 24,015 9.456874 227,107 28%
</TABLE>
36
<PAGE> 36
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Nationwide SAT - Balanced Fund:
Tax Qualified ............................... 154,427 10.810714 1,669,466 0%
Non-tax Qualified ........................... 230,363 10.810714 2,490,389 0%
Nationwide SAT -
Capital Appreciation Fund:
Tax Qualified ............................... 619,838 13.778852 8,540,656 3%
Non-tax Qualified ........................... 696,071 13.778852 9,591,059 3%
Nationwide SAT - Equity Income Fund:
Tax Qualified ............................... 59,154 13.571227 802,792 17%
Non-tax Qualified ........................... 81,119 13.571227 1,100,884 17%
Nationwide SAT - Global Equity Fund:
Tax Qualified ............................... 72,658 14.483618 1,052,351 22%
Non-tax Qualified ........................... 93,078 14.483618 1,348,106 22%
Nationwide SAT -
Government Bond Fund:
Tax Qualified ............................... 632,014 10.560422 6,674,335 (3)%
Non-tax Qualified ........................... 905,782 10.560422 9,565,440 (3)%
Nationwide SAT -
High Income Bond Fund:
Tax Qualified ............................... 179,156 10.914588 1,955,414 2%
Non-tax Qualified ........................... 286,727 10.914588 3,129,507 2%
Nationwide SAT - Money Market Fund:
Tax Qualified ............................... 936,225 10.885293 10,191,083 4%
Non-tax Qualified ........................... 1,266,352 10.885293 13,784,613 4%
Nationwide SAT -
Multi Sector Bond Fund:
Tax Qualified ............................... 196,859 10.290997 2,025,875 0%
Non-tax Qualified ........................... 314,788 10.290997 3,239,482 0%
Nationwide SAT -
Select Advisers Mid Cap Fund:
Tax Qualified ............................... 42,315 13.050437 552,229 20%
Non-tax Qualified ........................... 46,779 13.050437 610,486 20%
Nationwide SAT - Select Advisers
Small Cap Growth Fund:
Tax Qualified ............................... 7,378 20.358893 150,208 104%(a)
Non-tax Qualified ........................... 26,356 20.358893 536,579 104%(a)
Nationwide SAT - Small Cap Value Fund:
Tax Qualified ............................... 133,437 11.917534 1,590,240 26%
Non-tax Qualified ........................... 226,896 11.917534 2,704,041 26%
Nationwide SAT - Small Company Fund:
Tax Qualified ............................... 135,871 13.690433 1,860,133 43%
Non-tax Qualified ........................... 236,341 13.690433 3,235,611 43%
Nationwide SAT - Strategic Growth Fund:
Tax Qualified ............................... 64,464 21.149503 1,363,382 83%
Non-tax Qualified ........................... 96,599 21.149503 2,043,021 83%
Nationwide SAT - Strategic Value Fund:
Tax Qualified ............................... 38,395 9.666432 371,143 (4)%
Non-tax Qualified ........................... 82,657 9.666432 798,998 (4)%
</TABLE>
(Continued)
37
<PAGE> 37
NATIONWIDE VARIABLE ACCOUNT-9
NOTES TO FINANCIAL STATEMENTS, CONTINUED
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Nationwide SAT - Total Return Fund:
Tax Qualified ............................. 1,030,024 12.661861 13,042,021 6%
Non-tax Qualified ......................... 1,055,012 12.661861 13,358,415 6%
Neuberger & Berman AMT -
Guardian Portfolio:
Tax Qualified ............................. 89,533 15.561518 1,393,269 14%
Non-tax Qualified ......................... 196,408 15.561518 3,056,407 14%
Neuberger & Berman AMT -
Mid-Cap Growth Portfolio:
Tax Qualified ............................. 103,766 24.555839 2,548,061 52%
Non-tax Qualified ......................... 174,869 24.555839 4,294,055 52%
Neuberger & Berman AMT -
Partners Portfolio:
Tax Qualified ............................. 278,907 11.098514 3,095,453 6%
Non-tax Qualified ......................... 352,606 11.098514 3,913,403 6%
Oppenheimer VAF -
Aggressive Growth Fund:
Tax Qualified ............................. 138,526 19.253639 2,667,130 82%
Non-tax Qualified ......................... 196,300 19.253639 3,779,489 82%
Oppenheimer VAF -
Capital Appreciation Fund:
Tax Qualified ............................. 256,505 16.898986 4,334,674 40%
Non-tax Qualified ......................... 294,848 16.898986 4,982,632 40%
Oppenheimer VAF -
Main Street Growth & Income Fund:
Tax Qualified ............................. 277,065 12.798619 3,546,049 20%
Non-tax Qualified ......................... 459,069 12.798619 5,875,449 20%
Van Eck WIT -
Worldwide Emerging Markets Fund:
Tax Qualified ............................. 66,888 11.384426 761,481 98%
Non-tax Qualified ......................... 80,175 11.384426 912,746 98%
Van Eck WIT -
Worldwide Hard Assets Fund:
Tax Qualified ............................. 33,535 7.342607 246,234 20%
Non-tax Qualified ......................... 19,917 7.342607 146,243 20%
Van Kampen LIT - Morgan Stanley
Real Estate Securities Portfolio:
Tax Qualified ............................. 52,923 8.643190 457,424 (4)%
Non-tax Qualified ......................... 80,562 8.643190 696,313 (4)%
Warburg Pincus Trust -
Growth & Income Portfolio:
Tax Qualified ............................. 21,640 12.098010 261,801 5%
Non-tax Qualified ......................... 101,514 12.098010 1,228,117 5%
Warburg Pincus Trust -
International Equity Portfolio:
Tax Qualified ............................. 69,477 14.961024 1,039,447 52%
Non-tax Qualified ......................... 84,777 14.961024 1,268,351 52%
</TABLE>
38
<PAGE> 38
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Warburg Pincus Trust -
Post Venture Capital Portfolio:
Tax Qualified............................... 39,482 16.796919 663,176 62%
Non-tax Qualified........................... 65,236 16.796919 1,095,764 62%
Asset fee @ 1.10% rate:
American Century VP -
American Century VP Income & Growth:
Tax Qualified............................... 222,417 14.608384 3,249,153 17%
Non-tax Qualified........................... 29,546 14.608384 431,619 17%
American Century VP -
American Century VP International:
Tax Qualified............................... 41,404 19.569739 810,265 62%
Non-tax Qualified........................... 14,836 19.569739 290,337 62%
American Century VP -
American Century VP Value:
Tax Qualified............................... 11,136 11.060928 123,174 (2)%
Non-tax Qualified........................... 4,147 11.060928 45,870 (2)%
The Dreyfus Socially Responsible
Growth Fund, Inc.:
Tax Qualified............................... 465,748 16.447766 7,660,514 29%
Non-tax Qualified........................... 42,230 16.447766 694,589 29%
Dreyfus Stock Index Fund:
Tax Qualified............................... 779,350 14.867150 11,586,713 19%
Non-tax Qualified........................... 110,264 14.867150 1,639,311 19%
Dreyfus VIF -
Capital Appreciation Portfolio:
Tax Qualified............................... 194,676 13.657521 2,658,792 10%
Non-tax Qualified........................... 19,399 13.657521 264,942 10%
Dreyfus VIF - European Equity Fund:
Tax Qualified............................... 101 12.893630 1,302 29%(a)
Federated Insurance Series -
Federated Quality Bond Fund II:
Tax Qualified............................... 2,380 9.796953 23,317 (2)%(a)
Non-tax Qualified........................... 3,679 9.796953 36,043 (2)%(a)
Fidelity VIP - Equity-Income Portfolio -
Service Class:
Tax Qualified............................... 168,053 12.410474 2,085,617 5%
Non-tax Qualified........................... 60,188 12.410474 746,962 5%
Fidelity VIP - Growth Portfolio -
Service Class:
Tax Qualified............................... 396,464 17.534950 6,951,976 36%
Non-tax Qualified........................... 82,691 17.534950 1,449,983 36%
Fidelity VIP - High Income Portfolio -
Service Class:
Tax Qualified............................... 97,542 11.255695 1,097,903 7%
Non-tax Qualified........................... 12,538 11.255695 141,124 7%
</TABLE>
(Continued)
39
<PAGE> 39
NATIONWIDE VARIABLE ACCOUNT-9
NOTES TO FINANCIAL STATEMENTS, CONTINUED
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Fidelity VIP - Overseas Portfolio -
Service Class:
Tax Qualified ................................ 16,652 17.171657 285,942 41%
Non-tax Qualified ............................ 7,383 17.171657 126,778 41%
Fidelity VIP-II - Contrafund Portfolio -
Service Class:
Tax Qualified ................................ 357,916 15.712599 5,623,791 23%
Non-tax Qualified ............................ 53,716 15.712599 844,018 23%
Fidelity VIP-III - Growth Opportunities
Portfolio - Service Class:
Tax Qualified ................................ 60,701 12.683293 769,889 3%
Non-tax Qualified ............................ 18,169 12.683293 230,443 3%
Morgan Stanley -
Emerging Markets Debt Portfolio:
Tax Qualified ................................ 1,189 14.580968 17,337 28%
Non-tax Qualified ............................ 167 14.580968 2,435 28%
Nationwide SAT - Balanced Fund:
Tax Qualified ................................ 32,797 10.651741 349,345 0%
Non-tax Qualified ............................ 9,454 10.651741 100,702 0%
Nationwide SAT -
Capital Appreciation Fund:
Tax Qualified ................................ 286,356 12.829034 3,673,671 3%
Non-tax Qualified ............................ 73,395 12.829034 941,587 3%
Nationwide SAT - Equity Income Fund:
Tax Qualified ................................ 5,677 13.882376 78,810 17%
Non-tax Qualified ............................ 1,067 13.882376 14,812 17%
Nationwide SAT - Global Equity Fund:
Tax Qualified ................................ 20,185 14.846771 299,682 22%
Non-tax Qualified ............................ 4,952 14.846771 73,521 22%
Nationwide SAT -
Government Bond Fund:
Tax Qualified ................................ 163,660 9.515930 1,557,377 (3)%
Non-tax Qualified ............................ 38,632 9.515930 367,619 (3)%
Nationwide SAT -
High Income Bond Fund:
Tax Qualified ................................ 9,774 10.552305 103,138 2%
Non-tax Qualified ............................ 1,849 10.552305 19,511 2%
Nationwide SAT - Money Market Fund:
Tax Qualified ................................ 181,296 10.468792 1,897,950 4%
Non-tax Qualified ............................ 44,218 10.468792 462,909 4%
Nationwide SAT -
Multi Sector Bond Fund:
Tax Qualified ................................ 2,820 10.290756 29,020 0%
Non-tax Qualified ............................ 1,818 10.290756 18,709 0%
Nationwide SAT -
Select Advisers Mid Cap Fund:
Tax Qualified ................................ 6,679 14.654661 97,878 20%
Non-tax Qualified ............................ 310 14.654661 4,543 20%
</TABLE>
40
<PAGE> 40
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Nationwide SAT - Select Advisers
Small Cap Growth Fund:
Tax Qualified ................................ 1,653 20.352098 33,642 104%(a)
Nationwide SAT - Small Cap Value Fund:
Tax Qualified ................................ 47,149 16.391038 772,821 26%
Non-tax Qualified ............................ 3,348 16.391038 54,877 26%
Nationwide SAT - Small Company Fund:
Tax Qualified ................................ 27,603 17.267747 476,642 42%
Non-tax Qualified ............................ 3,714 17.267747 64,132 42%
Nationwide SAT - Strategic Growth Fund:
Tax Qualified ................................ 34,606 23.148836 801,089 83%
Non-tax Qualified ............................ 7,117 23.148836 164,750 83%
Nationwide SAT - Strategic Value Fund:
Tax Qualified ................................ 3,117 12.489739 38,931 (4)%
Non-tax Qualified ............................ 419 12.489739 5,233 (4)%
Nationwide SAT - Total Return Fund:
Tax Qualified ................................ 502,732 12.684916 6,377,113 6%
Non-tax Qualified ............................ 114,438 12.684916 1,451,636 6%
Neuberger & Berman AMT -
Guardian Portfolio:
Tax Qualified ................................ 58,521 14.648600 857,251 14%
Non-tax Qualified ............................ 5,523 14.648600 80,904 14%
Neuberger & Berman AMT -
Mid-Cap Growth Portfolio:
Tax Qualified ................................ 57,486 21.426404 1,231,718 52%
Non-tax Qualified ............................ 6,612 21.426404 141,671 52%
Neuberger & Berman AMT -
Partners Portfolio:
Tax Qualified ................................ 32,593 12.591929 410,409 6%
Non-tax Qualified ............................ 6,025 12.591929 75,866 6%
Oppenheimer VAF -
Aggressive Growth Fund:
Tax Qualified ................................ 60,543 23.954947 1,450,304 82%
Non-tax Qualified ............................ 13,307 23.954947 318,768 82%
Oppenheimer VAF -
Capital Appreciation Fund:
Tax Qualified ................................ 89,709 18.556149 1,664,654 40%
Non-tax Qualified ............................ 17,465 18.556149 324,083 40%
Oppenheimer VAF -
Main Street Growth & Income Fund:
Tax Qualified ................................ 45,934 14.854438 682,324 20%
Non-tax Qualified ............................ 16,741 14.854438 248,678 20%
Van Eck WIT -
Worldwide Emerging Markets Fund:
Tax Qualified ................................ 5,224 25.026598 130,739 98%
Non-tax Qualified ............................ 1,848 25.026598 46,249 98%
</TABLE>
(Continued)
41
<PAGE> 41
NATIONWIDE VARIABLE ACCOUNT-9
NOTES TO FINANCIAL STATEMENTS, CONTINUED
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Van Eck WIT -
Worldwide Hard Assets Fund:
Tax Qualified............................... 1,570 11.869689 18,635 20%
Non-tax Qualified........................... 44 11.869689 522 20%
Van Kampen LIT - Morgan Stanley
Real Estate Securities Portfolio:
Tax Qualified............................... 3,839 9.949557 38,196 (4)%
Non-tax Qualified........................... 223 9.949557 2,219 (4)%
Warburg Pincus Trust -
Growth & Income Portfolio:
Tax Qualified............................... 2,110 12.499772 26,375 5%
Non-tax Qualified........................... 136 12.499772 1,700 5%
Warburg Pincus Trust -
International Equity Portfolio:
Tax Qualified............................... 2,131 17.529681 37,356 52%
Non-tax Qualified........................... 201 17.529681 3,523 52%
Warburg Pincus Trust -
Post Venture Capital Portfolio:
Tax Qualified............................... 1,939 20.760969 40,256 62%
Non-tax Qualified........................... 1,102 20.760969 22,879 62%
Asset fee @ 1.15% rate:
American Century VP -
American Century VP Income & Growth:
Tax Qualified............................... 41,838 14.599165 610,800 17%
Non-tax Qualified........................... 872 14.599165 12,730 17%
American Century VP -
American Century VP International:
Tax Qualified............................... 13,984 19.557409 273,491 62%
Non-tax Qualified........................... 1,685 19.557409 32,954 62%
American Century VP -
American Century VP Value:
Tax Qualified............................... 780 11.053935 8,622 (2)%
Non-tax Qualified........................... 2,303 11.053935 25,457 (2)%
The Dreyfus Socially Responsible
Growth Fund, Inc.:
Tax Qualified............................... 73,377 16.437396 1,206,127 29%
Non-tax Qualified........................... 7,945 16.437396 130,595 29%
Dreyfus Stock Index Fund:
Tax Qualified............................... 191,388 14.857773 2,843,599 19%
Non-tax Qualified........................... 30,346 14.857773 450,874 19%
Dreyfus VIF -
Capital Appreciation Portfolio:
Tax Qualified............................... 66,469 13.648909 907,229 10%
Non-tax Qualified........................... 5,722 13.648909 78,099 10%
Federated Insurance Series -
Federated Quality Bond Fund II:
Tax Qualified............................... 82 9.793677 803 (2)%(a)
Non-tax Qualified........................... 3,439 9.793677 33,680 (2)%(a)
</TABLE>
42
<PAGE> 42
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Fidelity VIP - Equity-Income Portfolio -
Service Class:
Tax Qualified ................................. 30,049 12.402631 372,687 5%
Non-tax Qualified ............................. 9,774 12.402631 121,223 5%
Fidelity VIP - Growth Portfolio -
Service Class:
Tax Qualified ................................. 99,919 17.523903 1,750,971 36%
Non-tax Qualified ............................. 22,750 17.523903 398,669 36%
Fidelity VIP - High Income Portfolio -
Service Class:
Tax Qualified ................................. 22,133 11.248584 248,965 7%
Non-tax Qualified ............................. 4,648 11.248584 52,283 7%
Fidelity VIP - Overseas Portfolio -
Service Class:
Tax Qualified ................................. 3,415 17.160838 58,604 41%
Non-tax Qualified ............................. 252 17.160838 4,325 41%
Fidelity VIP-II - Contrafund Portfolio -
Service Class:
Tax Qualified ................................. 60,592 15.702687 951,457 23%
Non-tax Qualified ............................. 9,052 15.702687 142,141 23%
Fidelity VIP-III - Growth Opportunities
Portfolio - Service Class:
Tax Qualified ................................. 9,541 12.675276 120,935 3%
Non-tax Qualified ............................. 5,617 12.675276 71,197 3%
Morgan Stanley -
Emerging Markets Debt Portfolio:
Tax Qualified ................................. 110 14.571756 1,603 28%
Non-tax Qualified ............................. 191 14.571756 2,783 28%
Nationwide SAT - Balanced Fund:
Tax Qualified ................................. 6,878 10.645005 73,216 0%
Non-tax Qualified ............................. 443 10.645005 4,716 0%
Nationwide SAT -
Capital Appreciation Fund:
Tax Qualified ................................. 126,187 12.820934 1,617,835 3%
Non-tax Qualified ............................. 19,193 12.820934 246,072 3%
Nationwide SAT - Equity Income Fund:
Tax Qualified ................................. 1,743 13.873607 24,182 17%
Non-tax Qualified ............................. 835 13.873607 11,584 17%
Nationwide SAT - Global Equity Fund:
Tax Qualified ................................. 5,296 14.837408 78,579 22%
Non-tax Qualified ............................. 277 14.837408 4,110 22%
Nationwide SAT -
Government Bond Fund:
Tax Qualified ................................. 71,434 9.509925 679,332 (3)%
Non-tax Qualified ............................. 15,177 9.509925 144,332 (3)%
Nationwide SAT -
High Income Bond Fund:
Tax Qualified ................................. 958 10.545637 10,103 2%
Non-tax Qualified ............................. 428 10.545637 4,514 2%
</TABLE>
(Continued)
43
<PAGE> 43
NATIONWIDE VARIABLE ACCOUNT-9
NOTES TO FINANCIAL STATEMENTS, CONTINUED
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Nationwide SAT - Money Market Fund:
Tax Qualified ................................ 14,690 10.462170 153,689 4%
Non-tax Qualified ............................ 3,569 10.462170 37,339 4%
Nationwide SAT -
Multi Sector Bond Fund:
Tax Qualified ................................ 1,562 10.284262 16,064 0%
Non-tax Qualified ............................ 2,287 10.284262 23,520 0%
Nationwide SAT -
Select Advisers Mid Cap Fund:
Tax Qualified ................................ 927 14.645409 13,576 20%
Non-tax Qualified ............................ 30 14.645409 439 20%
Nationwide SAT -
Select Advisers Small Cap Growth Fund:
Tax Qualified ................................ 346 20.345317 7,039 103%(a)
Nationwide SAT - Small Cap Value Fund:
Tax Qualified ................................ 9,141 16.380692 149,736 26%
Non-tax Qualified ............................ 1,774 16.380692 29,059 26%
Nationwide SAT - Small Company Fund:
Tax Qualified ................................ 3,239 17.256864 55,895 42%
Non-tax Qualified ............................ 6,788 17.256864 117,140 42%
Nationwide SAT - Strategic Growth Fund:
Tax Qualified ................................ 5,918 23.134244 136,908 83%
Non-tax Qualified ............................ 626 23.134244 14,482 83%
Nationwide SAT - Strategic Value Fund:
Tax Qualified ................................ 1,129 12.481871 14,092 (4)%
Nationwide SAT - Total Return Fund:
Tax Qualified ................................ 109,816 12.676933 1,392,130 6%
Non-tax Qualified ............................ 30,070 12.676933 381,195 6%
Neuberger & Berman AMT -
Guardian Portfolio:
Tax Qualified ................................ 11,569 14.639366 169,363 14%
Non-tax Qualified ............................ 1,080 14.639366 15,811 14%
Neuberger & Berman AMT -
Mid-Cap Growth Portfolio:
Tax Qualified ................................ 8,306 21.412911 177,856 52%
Non-tax Qualified ............................ 271 21.412911 5,803 52%
Neuberger & Berman AMT -
Partners Portfolio:
Tax Qualified ................................ 12,897 12.583972 162,295 6%
Non-tax Qualified ............................ 416 12.583972 5,235 6%
Oppenheimer VAF -
Aggressive Growth Fund:
Tax Qualified ................................ 15,859 23.939845 379,662 81%
Non-tax Qualified ............................ 2,162 23.939845 51,758 81%
Oppenheimer VAF -
Capital Appreciation Fund:
Tax Qualified ................................ 22,240 18.544459 412,429 40%
Non-tax Qualified ............................ 6,950 18.544459 128,884 40%
</TABLE>
44
<PAGE> 44
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Oppenheimer VAF -
Main Street Growth & Income Fund:
Tax Qualified ................................ 13,715 14.845060 203,600 20%
Non-tax Qualified ............................ 3,367 14.845060 49,983 20%
Van Eck WIT -
Worldwide Emerging Markets Fund:
Tax Qualified ................................ 1,298 25.010854 32,464 98%
Van Eck WIT -
Worldwide Hard Assets Fund:
Tax Qualified ................................ 749 11.862189 8,885 20%
Van Kampen LIT - Morgan Stanley
Real Estate Securities Portfolio:
Tax Qualified ................................ 955 9.943271 9,496 (4)%
Warburg Pincus Trust -
Growth & Income Portfolio:
Tax Qualified ................................ 1,740 12.491882 21,736 5%
Non-tax Qualified ............................ 1,140 12.491882 14,241 5%
Warburg Pincus Trust -
International Equity Portfolio:
Tax Qualified ................................ 39 17.518646 683 52%
Non-tax Qualified ............................ 2,167 17.518646 37,963 52%
Asset fee @ 1.20% rate:
American Century VP -
American Century VP Income & Growth:
Tax Qualified ................................ 390,363 14.495483 5,658,500 17%
Non-tax Qualified ............................ 453,751 14.495483 6,577,340 17%
American Century VP -
American Century VP International:
Tax Qualified ................................ 310,968 17.674116 5,496,085 62%
Non-tax Qualified ............................ 776,659 17.674116 13,726,761 62%
American Century VP -
American Century VP Value:
Tax Qualified ................................ 144,253 11.263216 1,624,753 (2)%
Non-tax Qualified ............................ 206,988 11.263216 2,331,351 (2)%
The Dreyfus Socially Responsible
Growth Fund, Inc.:
Tax Qualified ................................ 211,081 16.397708 3,461,245 29%
Non-tax Qualified ............................ 352,551 16.397708 5,781,028 29%
Dreyfus Stock Index Fund:
Tax Qualified ................................ 1,214,481 14.736468 17,897,160 19%
Non-tax Qualified ............................ 2,733,494 14.736468 40,282,047 19%
Dreyfus VIF -
Capital Appreciation Portfolio:
Tax Qualified ................................ 248,570 13.442893 3,341,500 10%
Non-tax Qualified ............................ 529,646 13.442893 7,119,975 10%
Dreyfus VIF - European Equity Fund:
Tax Qualified ................................ 9,327 12.890242 120,227 29%(a)
Non-tax Qualified ............................ 14,047 12.890242 181,069 29%(a)
</TABLE>
(Continued)
45
<PAGE> 45
NATIONWIDE VARIABLE ACCOUNT-9
NOTES TO FINANCIAL STATEMENTS, CONTINUED
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Federated Insurance Series -
Federated Quality Bond Fund II:
Tax Qualified ................................ 37,796 9.790385 370,037 (2)%(a)
Non-tax Qualified ............................ 71,657 9.790385 701,550 (2)%(a)
Fidelity VIP - Equity-Income Portfolio -
Service Class:
Tax Qualified ................................ 490,730 12.440601 6,104,976 5%
Non-tax Qualified ............................ 1,018,907 12.440601 12,675,815 5%
Fidelity VIP - Growth Portfolio -
Service Class:
Tax Qualified ................................ 1,060,518 17.653733 18,722,102 36%
Non-tax Qualified ............................ 2,167,614 17.653733 38,266,479 36%
Fidelity VIP - High Income Portfolio -
Service Class:
Tax Qualified ................................ 394,597 11.087928 4,375,263 7%
Non-tax Qualified ............................ 1,947,554 11.087928 21,594,339 7%
Fidelity VIP - Overseas Portfolio -
Service Class:
Tax Qualified ................................ 228,568 15.900927 3,634,443 41%
Non-tax Qualified ............................ 472,612 15.900927 7,514,969 41%
Fidelity VIP-II - Contrafund Portfolio -
Service Class:
Tax Qualified ................................ 753,984 15.457984 11,655,073 23%
Non-tax Qualified ............................ 1,358,802 15.457984 21,004,340 23%
Fidelity VIP-III - Growth Opportunities
Portfolio - Service Class:
Tax Qualified ................................ 300,684 12.785954 3,844,532 3%
Non-tax Qualified ............................ 782,813 12.785954 10,009,011 3%
Morgan Stanley -
Emerging Markets Debt Portfolio:
Tax Qualified ................................ 21,613 14.572201 314,949 28%
Non-tax Qualified ............................ 44,276 14.572201 645,199 28%
Nationwide SAT - Balanced Fund:
Tax Qualified ................................ 104,760 10.735723 1,124,674 0%
Non-tax Qualified ............................ 158,605 10.735723 1,702,739 0%
Nationwide SAT -
Capital Appreciation Fund:
Tax Qualified ................................ 288,532 12.767993 3,683,975 3%
Non-tax Qualified ............................ 668,662 12.767993 8,537,472 3%
Nationwide SAT - Equity Income Fund:
Tax Qualified ................................ 31,013 13.963829 433,060 17%
Non-tax Qualified ............................ 66,421 13.963829 927,491 17%
Nationwide SAT - Global Equity Fund:
Tax Qualified ................................ 58,262 14.267173 831,234 21%
Non-tax Qualified ............................ 151,804 14.267173 2,165,814 21%
</TABLE>
46
<PAGE> 46
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Nationwide SAT -
Government Bond Fund:
Tax Qualified ............................ 446,335 9.816007 4,381,227 (4)%
Non-tax Qualified ........................ 1,049,111 9.816007 10,298,081 (4)%
Nationwide SAT -
High Income Bond Fund:
Tax Qualified ............................ 71,728 10.764664 772,128 2%
Non-tax Qualified ........................ 141,476 10.764664 1,522,942 2%
Nationwide SAT - Money Market Fund:
Tax Qualified ............................ 1,603,815 10.489614 16,823,400 4%
Non-tax Qualified ........................ 5,432,154 10.489614 56,981,199 4%
Nationwide SAT -
Multi Sector Bond Fund:
Tax Qualified ............................ 83,987 10.510552 882,750 0%
Non-tax Qualified ........................ 292,600 10.510552 3,075,388 0%
Nationwide SAT -
Select Advisers Mid Cap Fund:
Tax Qualified ............................ 26,844 14.644558 393,119 19%
Non-tax Qualified ........................ 56,268 14.644558 824,020 19%
Nationwide SAT -
Select Advisers Small Cap Growth Fund:
Tax Qualified ............................ 29,934 20.338511 608,813 103%(a)
Non-tax Qualified ........................ 40,321 20.338511 820,069 103%(a)
Nationwide SAT - Small Cap Value Fund:
Tax Qualified ............................ 73,887 15.896867 1,174,572 26%
Non-tax Qualified ........................ 228,412 15.896867 3,631,035 26%
Nationwide SAT - Small Company Fund:
Tax Qualified ............................ 105,198 17.099098 1,798,791 42%
Non-tax Qualified ........................ 624,875 17.099098 10,684,799 42%
Nationwide SAT - Strategic Growth Fund:
Tax Qualified ............................ 96,278 22.750997 2,190,420 83%
Non-tax Qualified ........................ 201,108 22.750997 4,575,408 83%
Nationwide SAT - Strategic Value Fund:
Tax Qualified ............................ 16,167 11.949113 193,181 (4)%
Non-tax Qualified ........................ 23,436 11.949113 280,039 (4)%
Nationwide SAT - Total Return Fund:
Tax Qualified ............................ 347,616 12.646339 4,396,070 6%
Non-tax Qualified ........................ 697,017 12.646339 8,814,713 6%
Neuberger & Berman AMT -
Guardian Portfolio:
Tax Qualified ............................ 127,606 13.976229 1,783,451 14%
Non-tax Qualified ........................ 282,638 13.976229 3,950,213 14%
Neuberger & Berman AMT -
Mid-Cap Growth Portfolio:
Tax Qualified ............................ 124,678 20.834304 2,597,579 52%
Non-tax Qualified ........................ 324,267 20.834304 6,755,877 52%
</TABLE>
(Continued)
47
<PAGE> 47
NATIONWIDE VARIABLE ACCOUNT-9
NOTES TO FINANCIAL STATEMENTS, CONTINUED
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Neuberger & Berman AMT -
Partners Portfolio:
Tax Qualified ............................... 93,733 12.539993 1,175,411 6%
Non-tax Qualified ........................... 219,432 12.539993 2,751,676 6%
Oppenheimer VAF -
Aggressive Growth Fund:
Tax Qualified ............................... 87,884 23.512658 2,066,386 81%
Non-tax Qualified ........................... 858,422 23.512658 20,183,783 81%
Oppenheimer VAF -
Capital Appreciation Fund:
Tax Qualified ............................... 202,090 17.848621 3,607,028 40%
Non-tax Qualified ........................... 434,906 17.848621 7,762,472 40%
Oppenheimer VAF -
Main Street Growth & Income Fund:
Tax Qualified ............................... 231,091 14.609212 3,376,057 20%
Non-tax Qualified ........................... 615,542 14.609212 8,992,584 20%
Van Eck WIT -
Worldwide Emerging Markets Fund:
Tax Qualified ............................... 48,845 23.947713 1,169,726 98%
Non-tax Qualified ........................... 117,449 23.947713 2,812,635 98%
Van Eck WIT -
Worldwide Hard Assets Fund:
Tax Qualified ............................... 37,006 12.649846 468,120 20%
Non-tax Qualified ........................... 53,488 12.649846 676,615 20%
Van Kampen LIT - Morgan Stanley
Real Estate Securities Portfolio:
Tax Qualified ............................... 41,224 10.253920 422,708 (5)%
Non-tax Qualified ........................... 113,232 10.253920 1,161,072 (5)%
Victory VIF - Diversified Stock Fund -
Class A:
Tax Qualified ............................... 69,363 10.060160 697,803 1%(a)
Non-tax Qualified ........................... 219,452 10.060160 2,207,722 1%(a)
Victory VIF - Investment Quality Bond
Fund - Class A:
Tax Qualified ............................... 21,371 9.930934 212,234 (1)%(a)
Non-tax Qualified ........................... 50,141 9.930934 497,947 (1)%(a)
Victory VIF - Small Company
Opportunity Fund - Class A:
Tax Qualified ............................... 2,419 9.896766 23,940 (1)%(a)
Non-tax Qualified ........................... 33,474 9.896766 331,284 (1)%(a)
Warburg Pincus Trust -
Growth & Income Portfolio:
Tax Qualified .................................. 40,679 12.269490 499,111 5%
Non-tax Qualified ........................... 35,459 12.269490 435,064 5%
Warburg Pincus Trust -
International Equity Portfolio:
Tax Qualified ............................... 56,396 16.374564 923,460 52%
Non-tax Qualified ........................... 319,083 16.374564 5,224,845 52%
</TABLE>
48
<PAGE> 48
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Warburg Pincus Trust -
Post Venture Capital Portfolio:
Tax Qualified ................................ 23,863 20.579437 491,087 62%
Non-tax Qualified ............................ 51,497 20.579437 1,059,779 62%
Asset fee @ 1.25% rate:
American Century VP -
American Century VP Income & Growth:
Tax Qualified ................................ 32,451 14.485724 470,076 17%
Non-tax Qualified ............................ 73,685 14.485724 1,067,381 17%
American Century VP -
American Century VP International:
Tax Qualified ................................ 16,086 17.662250 284,115 62%
Non-tax Qualified ............................ 39,926 17.662250 705,183 62%
American Century VP -
American Century VP Value:
Tax Qualified ................................ 10,844 11.255628 122,056 (2)%
Non-tax Qualified ............................ 28,843 11.255628 324,646 (2)%
The Dreyfus Socially Responsible
Growth Fund, Inc.:
Tax Qualified ................................ 23,551 16.386683 385,923 28%
Non-tax Qualified ............................ 24,892 16.386683 407,897 28%
Dreyfus Stock Index Fund:
Tax Qualified ................................ 115,398 14.726559 1,699,415 19%
Non-tax Qualified ............................ 168,383 14.726559 2,479,702 19%
Dreyfus VIF -
Capital Appreciation Portfolio:
Tax Qualified ................................ 17,550 13.433832 235,764 10%
Non-tax Qualified ............................ 32,907 13.433832 442,067 10%
Dreyfus VIF - European Equity Fund:
Tax Qualified ................................ 2,408 12.888550 31,036 29%(a)
Non-tax Qualified ............................ 83 12.888550 1,070 29%(a)
Federated Insurance Series -
Federated Quality Bond Fund II:
Tax Qualified ................................ 407 9.787093 3,983 (2)%(a)
Non-tax Qualified ............................ 441 9.787093 4,316 (2)%(a)
Fidelity VIP - Equity-Income Portfolio -
Service Class:
Tax Qualified ................................ 53,847 12.432231 669,438 5%
Non-tax Qualified ............................ 113,198 12.432231 1,407,304 5%
Fidelity VIP - Growth Portfolio -
Service Class:
Tax Qualified ................................ 67,791 17.641868 1,195,960 36%
Non-tax Qualified ............................ 131,571 17.641868 2,321,158 36%
Fidelity VIP - High Income Portfolio -
Service Class:
Tax Qualified ................................ 21,064 11.080460 233,399 7%
Non-tax Qualified ............................ 37,233 11.080460 412,559 7%
</TABLE>
(Continued)
49
<PAGE> 49
NATIONWIDE VARIABLE ACCOUNT-9
NOTES TO FINANCIAL STATEMENTS, CONTINUED
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Fidelity VIP - Overseas Portfolio -
Service Class:
Tax Qualified ................................. 6,292 15.890221 99,981 41%
Non-tax Qualified ............................. 47,996 15.890221 762,667 41%
Fidelity VIP-II - Contrafund Portfolio -
Service Class:
Tax Qualified ................................. 46,664 15.447579 720,846 23%
Non-tax Qualified ............................. 87,382 15.447579 1,349,840 23%
Fidelity VIP-III - Growth Opportunities
Portfolio - Service Class:
Tax Qualified ................................. 21,257 12.777351 271,608 3%
Non-tax Qualified ............................. 33,643 12.777351 429,868 3%
Morgan Stanley -
Emerging Markets Debt Portfolio:
Tax Qualified ................................. 164 14.562396 2,388 28%
Non-tax Qualified ............................. 315 14.562396 4,587 28%
Nationwide SAT - Balanced Fund:
Tax Qualified ................................. 3,364 10.728485 36,091 0%
Non-tax Qualified ............................. 12,442 10.728485 133,484 0%
Nationwide SAT -
Capital Appreciation Fund:
Tax Qualified ................................. 44,120 12.759401 562,945 3%
Non-tax Qualified ............................. 38,127 12.759401 486,478 3%
Nationwide SAT - Equity Income Fund:
Tax Qualified ................................. 1,513 13.954430 21,113 17%
Non-tax Qualified ............................. 2,255 13.954430 31,467 17%
Nationwide SAT - Global Equity Fund:
Tax Qualified ................................. 1,280 14.257588 18,250 21%
Non-tax Qualified ............................. 16,120 14.257588 229,832 21%
Nationwide SAT -
Government Bond Fund:
Tax Qualified ................................. 31,768 9.809384 311,625 (4)%
Non-tax Qualified ............................. 45,842 9.809384 449,682 (4)%
Nationwide SAT -
High Income Bond Fund:
Tax Qualified ................................. 2,505 10.757403 26,947 2%
Non-tax Qualified ............................. 9,925 10.757403 106,767 2%
Nationwide SAT - Money Market Fund:
Tax Qualified ................................. 114,913 10.482530 1,204,579 4%
Non-tax Qualified ............................. 84,738 10.482530 888,269 4%
Nationwide SAT -
Multi Sector Bond Fund:
Tax Qualified ................................. 182 10.503468 1,912 0%
Non-tax Qualified ............................. 3,903 10.503468 40,995 0%
Nationwide SAT -
Select Advisers Mid Cap Fund:
Tax Qualified ................................. 82 14.634711 1,200 19%
Non-tax Qualified ............................. 3,058 14.634711 44,753 19%
</TABLE>
50
<PAGE> 50
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Nationwide SAT - Select Advisers
Small Cap Growth Fund:
Tax Qualified .................................. 681 20.331712 13,846 103%(a)
Non-tax Qualified .............................. 3,667 20.331712 74,556 103%(a)
Nationwide SAT - Small Cap Value Fund:
Tax Qualified .................................. 8,738 15.886176 138,813 26%
Non-tax Qualified .............................. 7,074 15.886176 112,379 26%
Nationwide SAT - Small Company Fund:
Tax Qualified .................................. 5,336 17.087592 91,179 42%
Non-tax Qualified .............................. 15,997 17.087592 273,350 42%
Nationwide SAT - Strategic Growth Fund:
Tax Qualified .................................. 10,320 22.735718 234,633 82%
Non-tax Qualified .............................. 26,153 22.735718 594,607 82%
Nationwide SAT - Strategic Value Fund:
Non-tax Qualified .............................. 6,717 11.941061 80,208 (4)%
Nationwide SAT - Total Return Fund:
Tax Qualified .................................. 60,863 12.637807 769,175 6%
Non-tax Qualified .............................. 40,210 12.637807 508,166 6%
Neuberger & Berman AMT -
Guardian Portfolio:
Tax Qualified .................................. 5,731 13.966839 80,044 13%
Non-tax Qualified .............................. 8,235 13.966839 115,017 13%
Neuberger & Berman AMT -
Mid-Cap Growth Portfolio:
Tax Qualified .................................. 7,129 20.820318 148,428 52%
Non-tax Qualified .............................. 21,720 20.820318 452,217 52%
Neuberger & Berman AMT -
Partners Portfolio:
Tax Qualified .................................. 5,718 12.531553 71,655 6%
Non-tax Qualified .............................. 31,254 12.531553 391,661 6%
Oppenheimer VAF -
Aggressive Growth Fund:
Tax Qualified .................................. 13,081 23.496887 307,363 81%
Non-tax Qualified .............................. 35,413 23.496887 832,095 81%
Oppenheimer VAF -
Capital Appreciation Fund:
Tax Qualified .................................. 15,853 17.836627 282,764 40%
Non-tax Qualified .............................. 38,019 17.836627 678,131 40%
Oppenheimer VAF -
Main Street Growth & Income Fund:
Tax Qualified .................................. 26,462 14.599387 386,329 20%
Non-tax Qualified .............................. 74,917 14.599387 1,093,742 20%
Van Eck WIT -
Worldwide Emerging Markets Fund:
Tax Qualified .................................. 2,640 23.931619 63,179 98%
Non-tax Qualified .............................. 7,039 23.931619 168,455 98%
</TABLE>
(Continued)
51
<PAGE> 51
NATIONWIDE VARIABLE ACCOUNT-9
NOTES TO FINANCIAL STATEMENTS, CONTINUED
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Van Eck WIT -
Worldwide Hard Assets Fund:
Tax Qualified ................................ 57 12.641312 721 19%
Non-tax Qualified ............................ 695 12.641312 8,786 19%
Van Kampen LIT - Morgan Stanley
Real Estate Securities Portfolio:
Tax Qualified ................................ 1,283 10.247016 13,147 (5)%
Non-tax Qualified ............................ 557 10.247016 5,708 (5)%
Victory VIF - Diversified Stock Fund -
Class A:
Non-tax Qualified ............................ 4,891 10.057633 49,192 1%(a)
Victory VIF - Investment Quality
Bond Fund - Class A:
Non-tax Qualified ............................ 883 9.928452 8,767 (1)%(a)
Victory VIF - Small Company
Opportunity Fund - Class A:
Non-tax Qualified ............................ 772 9.894290 7,638 (1)%(a)
Warburg Pincus Trust -
Growth & Income Portfolio:
Tax Qualified ................................ 3,436 12.261224 42,130 5%
Non-tax Qualified ............................ 1,916 12.261224 23,493 5%
Warburg Pincus Trust -
International Equity Portfolio:
Tax Qualified ................................ 18,145 16.363554 296,917 52%
Non-tax Qualified ............................ 7,363 16.363554 120,485 52%
Warburg Pincus Trust -
Post Venture Capital Portfolio:
Tax Qualified ................................ 3,938 20.565582 80,987 61%
Non-tax Qualified ............................ 175 20.565582 3,599 61%
Asset fee @ 1.30% rate:
American Century VP -
American Century VP Income & Growth:
Tax Qualified ................................ 107,904 14.475981 1,562,016 16%
Non-tax Qualified ............................ 108,159 14.475981 1,565,708 16%
American Century VP -
American Century VP International:
Tax Qualified ................................ 72,753 17.650383 1,284,118 62%
Non-tax Qualified ............................ 110,844 17.650383 1,956,439 62%
American Century VP -
American Century VP Value:
Tax Qualified ................................ 12,775 11.248045 143,694 (2)%
Non-tax Qualified ............................ 28,730 11.248045 323,156 (2)%
The Dreyfus Socially Responsible
Growth Fund, Inc.:
Tax Qualified ................................ 66,205 16.375662 1,084,151 28%
Non-tax Qualified ............................ 61,114 16.375662 1,000,782 28%
</TABLE>
52
<PAGE> 52
NATIONWIDE VARIABLE ACCOUNT-9
NOTES TO FINANCIAL STATEMENTS, CONTINUED
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Dreyfus Stock Index Fund:
Tax Qualified ............................. 684,723 14.716647 10,076,827 19%
Non-tax Qualified ......................... 1,041,506 14.716647 15,327,476 19%
Dreyfus VIF -
Capital Appreciation Portfolio:
Tax Qualified ............................. 124,739 13.424790 1,674,595 10%
Non-tax Qualified ......................... 114,009 13.424790 1,530,547 10%
Dreyfus VIF - European Equity Fund:
Tax Qualified ............................. 1,134 12.886864 14,614 29%(a)
Non-tax Qualified ......................... 3,490 12.886864 44,975 29%(a)
Federated Insurance Series -
Federated Quality Bond Fund II:
Tax Qualified ............................. 19,483 9.783812 190,618 (2)%(a)
Non-tax Qualified ......................... 15,280 9.783812 149,497 (2)%(a)
Fidelity VIP - Equity-Income Portfolio -
Service Class:
Tax Qualified ............................. 173,109 12.423854 2,150,681 5%
Non-tax Qualified ......................... 182,235 12.423854 2,264,061 5%
Fidelity VIP - Growth Portfolio -
Service Class:
Tax Qualified ............................. 348,114 17.630000 6,137,250 36%
Non-tax Qualified ......................... 551,381 17.630000 9,720,847 36%
Fidelity VIP - High Income Portfolio -
Service Class:
Tax Qualified ............................. 132,077 11.072984 1,462,487 7%
Non-tax Qualified ......................... 147,420 11.072984 1,632,379 7%
Fidelity VIP - Overseas Portfolio -
Service Class:
Tax Qualified ............................. 86,682 15.879549 1,376,471 41%
Non-tax Qualified ......................... 124,203 15.879549 1,972,288 41%
Fidelity VIP-II - Contrafund Portfolio -
Service Class:
Tax Qualified ............................. 198,360 15.437189 3,062,121 23%
Non-tax Qualified ......................... 274,482 15.437189 4,237,231 23%
Fidelity VIP-III - Growth Opportunities
Portfolio - Service Class:
Tax Qualified ............................. 89,914 12.768758 1,148,090 3%
Non-tax Qualified ......................... 105,265 12.768758 1,344,103 3%
Morgan Stanley -
Emerging Markets Debt Portfolio:
Tax Qualified ............................. 3,978 14.552579 57,890 28%
Non-tax Qualified ......................... 6,216 14.552579 90,459 28%
Nationwide SAT - Balanced Fund:
Tax Qualified ............................. 17,631 10.721257 189,026 0%
Non-tax Qualified ......................... 45,688 10.721257 489,833 0%
Nationwide SAT -
Capital Appreciation Fund:
Tax Qualified ............................. 104,562 12.750810 1,333,250 3%
Non-tax Qualified ......................... 341,164 12.750810 4,350,117 3%
</TABLE>
(Continued)
53
<PAGE> 53
NATIONWIDE VARIABLE ACCOUNT-9
NOTES TO FINANCIAL STATEMENTS, CONTINUED
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Nationwide SAT - Equity Income Fund:
Tax Qualified ............................. 7,226 13.945030 100,767 17%
Non-tax Qualified ......................... 19,226 13.945030 268,107 17%
Nationwide SAT - Global Equity Fund:
Tax Qualified ............................. 46,323 14.247974 660,009 21%
Non-tax Qualified ......................... 71,266 14.247974 1,015,396 21%
Nationwide SAT -
Government Bond Fund:
Tax Qualified ............................. 247,182 9.802780 2,423,071 (4)%
Non-tax Qualified ......................... 321,361 9.802780 3,150,231 (4)%
Nationwide SAT -
High Income Bond Fund:
Tax Qualified ............................. 46,078 10.750149 495,345 2%
Non-tax Qualified ......................... 70,255 10.750149 755,252 2%
Nationwide SAT - Money Market Fund:
Tax Qualified ............................. 1,182,057 10.475448 12,382,577 3%
Non-tax Qualified ......................... 1,157,296 10.475448 12,123,194 3%
Nationwide SAT -
Multi Sector Bond Fund:
Tax Qualified ............................. 48,359 10.496386 507,595 0%
Non-tax Qualified ......................... 61,675 10.496386 647,365 0%
Nationwide SAT -
Select Advisers Mid Cap Fund:
Tax Qualified ............................. 2,041 14.624858 29,849 19%
Non-tax Qualified ......................... 8,874 14.624858 129,781 19%
Nationwide SAT - Select Advisers
Small Cap Growth Fund:
Tax Qualified ............................. 4,379 20.324927 89,003 103%(a)
Non-tax Qualified ......................... 8,148 20.324927 165,608 103%(a)
Nationwide SAT - Small Cap Value Fund:
Tax Qualified ............................. 30,908 15.875478 490,679 26%
Non-tax Qualified ......................... 61,322 15.875478 973,516 26%
Nationwide SAT - Small Company Fund:
Tax Qualified ............................. 21,696 17.076087 370,483 42%
Non-tax Qualified ......................... 31,159 17.076087 532,074 42%
Nationwide SAT - Strategic Growth Fund:
Tax Qualified ............................. 57,952 22.720430 1,316,694 82%
Non-tax Qualified ......................... 103,969 22.720430 2,362,220 82%
Nationwide SAT - Strategic Value Fund:
Tax Qualified ............................. 8,003 11.933031 95,500 (4)%
Non-tax Qualified ......................... 9,946 11.933031 118,686 (4)%
Nationwide SAT - Total Return Fund:
Tax Qualified ............................. 180,091 12.629301 2,274,423 6%
Non-tax Qualified ......................... 176,065 12.629301 2,223,578 6%
Neuberger & Berman AMT -
Guardian Portfolio:
Tax Qualified ............................. 61,265 13.957433 855,102 13%
Non-tax Qualified ......................... 40,640 13.957433 567,230 13%
</TABLE>
54
<PAGE> 54
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Neuberger & Berman AMT -
Mid-Cap Growth Portfolio:
Tax Qualified ............................... 29,312 20.806301 609,874 52%
Non-tax Qualified ........................... 44,345 20.806301 922,655 52%
Neuberger & Berman AMT -
Partners Portfolio:
Tax Qualified ............................... 47,275 12.523110 592,030 6%
Non-tax Qualified ........................... 36,245 12.523110 453,900 6%
Oppenheimer VAF -
Aggressive Growth Fund:
Tax Qualified ............................... 45,369 23.481073 1,065,313 81%
Non-tax Qualified ........................... 63,400 23.481073 1,488,700 81%
Oppenheimer VAF -
Capital Appreciation Fund:
Tax Qualified ............................... 155,303 17.824624 2,768,218 40%
Non-tax Qualified ........................... 170,308 17.824624 3,035,676 40%
Oppenheimer VAF -
Main Street Growth & Income Fund:
Tax Qualified ............................... 75,394 14.589572 1,099,966 20%
Non-tax Qualified ........................... 111,371 14.589572 1,624,855 20%
Van Eck WIT -
Worldwide Emerging Markets Fund:
Tax Qualified ............................... 11,607 23.915562 277,588 98%
Non-tax Qualified ........................... 22,452 23.915562 536,952 98%
Van Eck WIT -
Worldwide Hard Assets Fund:
Tax Qualified .................................. 21,175 12.632809 267,500 19%
Non-tax Qualified ........................... 15,744 12.632809 198,891 19%
Van Kampen LIT - Morgan Stanley
Real Estate Securities Portfolio:
Tax Qualified ............................... 3,301 10.240102 33,803 (5)%
Non-tax Qualified ........................... 10,725 10.240102 109,825 (5)%
Warburg Pincus Trust -
Growth & Income Portfolio:
Tax Qualified ............................... 2,960 12.252980 36,269 5%
Non-tax Qualified ........................... 12,757 12.252980 156,311 5%
Warburg Pincus Trust -
International Equity Portfolio:
Tax Qualified ............................... 3,141 16.352558 51,363 51%
Non-tax Qualified ........................... 15,682 16.352558 256,441 51%
Warburg Pincus Trust -
Post Venture Capital Portfolio:
Tax Qualified ............................... 5,441 20.551766 111,822 61%
Non-tax Qualified ........................... 2,687 20.551766 55,223 61%
Asset fee @ 1.35% rate:
American Century VP -
American Century VP Income & Growth:
Tax Qualified ............................... 21,978 14.562313 320,051 16%
Non-tax Qualified ........................... 41,898 14.562313 610,132 16%
</TABLE>
(Continued)
55
<PAGE> 55
NATIONWIDE VARIABLE ACCOUNT-9
NOTES TO FINANCIAL STATEMENTS, CONTINUED
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
American Century VP -
American Century VP International:
Tax Qualified ............................. 4,011 19.508116 78,247 62%
Non-tax Qualified ......................... 11,717 19.508116 228,577 62%
American Century VP -
American Century VP Value:
Tax Qualified ............................. 2,318 11.026014 25,558 (2)%
Non-tax Qualified ......................... 4,673 11.026014 51,525 (2)%
The Dreyfus Socially Responsible
Growth Fund, Inc.:
Tax Qualified ............................. 24,037 16.395915 394,109 28%
Non-tax Qualified ......................... 17,768 16.395915 291,323 28%
Dreyfus Stock Index Fund:
Tax Qualified ............................. 65,993 14.820270 978,034 19%
Non-tax Qualified ......................... 129,850 14.820270 1,924,412 19%
Dreyfus VIF -
Capital Appreciation Portfolio:
Tax Qualified ............................. 987 13.614453 13,437 10%
Non-tax Qualified ......................... 9,554 13.614453 130,072 10%
Dreyfus VIF - European Equity Fund:
Tax Qualified ............................. 1,169 12.885161 15,063 29%(a)
Non-tax Qualified ......................... 520 12.885161 6,700 29%(a)
Federated Insurance Series -
Federated Quality Bond Fund II:
Tax Qualified ............................. 1,186 9.780523 11,600 (2)%(a)
Non-tax Qualified ......................... 4,341 9.780523 42,457 (2)%(a)
Fidelity VIP - Equity-Income Portfolio -
Service Class:
Tax Qualified ............................. 16,260 12.371310 201,158 5%
Non-tax Qualified ......................... 53,639 12.371310 663,585 5%
Fidelity VIP - Growth Portfolio -
Service Class:
Tax Qualified ............................. 31,835 17.479679 556,466 35%
Non-tax Qualified ......................... 80,540 17.479679 1,407,813 35%
Fidelity VIP - High Income Portfolio -
Service Class:
Tax Qualified ............................. 15,278 11.220168 171,422 7%
Non-tax Qualified ......................... 31,375 11.220168 352,033 7%
Fidelity VIP - Overseas Portfolio -
Service Class:
Tax Qualified ............................. 16,878 17.117558 288,910 41%
Non-tax Qualified ......................... 15,165 17.117558 259,588 41%
Fidelity VIP-II - Contrafund Portfolio -
Service Class:
Tax Qualified ............................. 14,384 15.663065 225,298 22%
Non-tax Qualified ......................... 65,942 15.663065 1,032,854 22%
</TABLE>
56
<PAGE> 56
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Fidelity VIP-III - Growth Opportunities
Portfolio - Service Class:
Tax Qualified ............................... 4,087 12.643267 51,673 3%
Non-tax Qualified ........................... 32,098 12.643267 405,824 3%
Morgan Stanley -
Emerging Markets Debt Portfolio:
Non-tax Qualified ........................... 676 14.534982 9,826 28%
Nationwide SAT - Balanced Fund:
Tax Qualified ............................... 7,484 10.618109 79,466 0%
Non-tax Qualified ........................... 10,580 10.618109 112,340 0%
Nationwide SAT -
Capital Appreciation Fund:
Tax Qualified ............................... 30,426 12.788549 389,104 3%
Non-tax Qualified ........................... 21,206 12.788549 271,194 3%
Nationwide SAT - Equity Income Fund:
Tax Qualified ............................... 898 13.838584 12,427 17%
Non-tax Qualified ........................... 3,836 13.838584 53,085 17%
Nationwide SAT - Global Equity Fund:
Tax Qualified ............................... 5,540 14.799960 81,992 21%
Non-tax Qualified ........................... 8,676 14.799960 128,404 21%
Nationwide SAT -
Government Bond Fund:
Tax Qualified ............................... 21,775 9.485894 206,555 (4)%
Non-tax Qualified ........................... 88,782 9.485894 842,177 (4)%
Nationwide SAT -
High Income Bond Fund:
Tax Qualified ............................... 7,431 10.519004 78,167 2%
Non-tax Qualified ........................... 8,672 10.519004 91,221 2%
Nationwide SAT - Money Market Fund:
Tax Qualified ............................... 53,049 10.435669 553,602 3%
Non-tax Qualified ........................... 206,770 10.435669 2,157,783 3%
Nationwide SAT -
Multi Sector Bond Fund:
Tax Qualified ............................... 4,503 10.258279 46,193 0%
Non-tax Qualified ........................... 10,846 10.258279 111,261 0%
Nationwide SAT -
Select Advisers Mid Cap Fund:
Tax Qualified ............................... 1,785 14.608445 26,076 19%
Non-tax Qualified ........................... 1,200 14.608445 17,530 19%
Nationwide SAT - Select Advisers
Small Cap Growth Fund:
Tax Qualified ............................... 373 20.318124 7,579 103%(a)
Non-tax Qualified ........................... 63 20.318124 1,280 103%(a)
Nationwide SAT - Small Cap Value Fund:
Tax Qualified ............................... 1,206 16.339365 19,705 26%
Non-tax Qualified ........................... 11,351 16.339365 185,468 26%
Nationwide SAT - Small Company Fund:
Tax Qualified ............................... 6,539 17.213333 112,558 42%
Non-tax Qualified ........................... 6,103 17.213333 105,053 42%
</TABLE>
(Continued)
57
<PAGE> 57
NATIONWIDE VARIABLE ACCOUNT-9
NOTES TO FINANCIAL STATEMENTS, CONTINUED
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Nationwide SAT - Strategic Growth Fund:
Tax Qualified ................................ 427 23.075929 9,853 82%
Non-tax Qualified ............................ 7,750 23.075929 178,838 82%
Nationwide SAT - Strategic Value Fund:
Non-tax Qualified ............................ 5,161 12.450334 64,256 (4)%
Nationwide SAT - Total Return Fund:
Tax Qualified ................................ 23,816 12.644908 301,151 5%
Non-tax Qualified ............................ 35,963 12.644908 454,749 5%
Neuberger & Berman AMT -
Guardian Portfolio:
Tax Qualified ................................ 5,332 14.602403 77,860 13%
Non-tax Qualified ............................ 8,307 14.602403 121,302 13%
Neuberger & Berman AMT -
Mid-Cap Growth Portfolio:
Tax Qualified ................................ 3,548 21.358908 75,781 52%
Non-tax Qualified ............................ 7,645 21.358908 163,289 52%
Neuberger & Berman AMT -
Partners Portfolio:
Tax Qualified ................................ 5,745 12.552194 72,112 6%
Non-tax Qualified ............................ 27,019 12.552194 339,148 6%
Oppenheimer VAF -
Aggressive Growth Fund:
Tax Qualified ................................ 1,068 23.879534 25,503 81%
Non-tax Qualified ............................ 1,635 23.879534 39,043 81%
Oppenheimer VAF -
Capital Appreciation Fund:
Tax Qualified ................................ 7,034 18.497677 130,113 40%
Non-tax Qualified ............................ 35,537 18.497677 657,352 40%
Oppenheimer VAF -
Main Street Growth & Income Fund:
Tax Qualified ................................ 4,550 14.807604 67,375 20%
Non-tax Qualified ............................ 11,754 14.807604 174,049 20%
Van Eck WIT -
Worldwide Emerging Markets Fund:
Tax Qualified ................................ 4,785 24.947866 119,376 98%
Non-tax Qualified ............................ 5,229 24.947866 130,452 98%
Van Eck WIT -
Worldwide Hard Assets Fund:
Tax Qualified ................................ 362 11.832203 4,283 19%
Non-tax Qualified ............................ 3,217 11.832203 38,064 19%
Van Kampen LIT - Morgan Stanley
Real Estate Securities Portfolio:
Tax Qualified ................................ 439 9.918143 4,354 (5)%
Non-tax Qualified ............................ 2,722 9.918143 26,997 (5)%
Warburg Pincus Trust -
Growth & Income Portfolio:
Non-tax Qualified ............................ 666 12.460330 8,299 5%
</TABLE>
58
<PAGE> 58
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Warburg Pincus Trust -
International Equity Portfolio:
Tax Qualified .............................. 631 17.474463 11,026 51%
Non-tax Qualified .......................... 3,077 17.474463 53,769 51%
Warburg Pincus Trust -
Post Venture Capital Portfolio:
Tax Qualified .............................. 1,481 20.695562 30,650 61%
Non-tax Qualified .......................... 1,853 20.695562 38,349 61%
Asset fee @ 1.40% rate:
American Century VP -
American Century VP Income & Growth:
Tax Qualified .............................. 6,866 14.553111 99,922 16%
Non-tax Qualified .......................... 1,803 14.553111 26,239 16%
American Century VP -
American Century VP International:
Tax Qualified .............................. 5,609 19.495801 109,352 62%
Non-tax Qualified .......................... 2,055 19.495801 40,064 62%
American Century VP -
American Century VP Value:
Tax Qualified .............................. 5,362 11.019041 59,084 (2)%
Non-tax Qualified .......................... 2,563 11.019041 28,242 (2)%
The Dreyfus Socially Responsible
Growth Fund, Inc.:
Tax Qualified .............................. 2,832 16.385550 46,404 28%
Non-tax Qualified .......................... 4,225 16.385550 69,229 28%
Dreyfus Stock Index Fund:
Tax Qualified .............................. 58,371 14.810885 864,526 19%
Non-tax Qualified .......................... 14,182 14.810885 210,048 19%
Dreyfus VIF -
Capital Appreciation Portfolio:
Tax Qualified .............................. 19,504 13.605834 265,368 10%
Non-tax Qualified .......................... 3,244 13.605834 44,137 10%
Federated Insurance Series -
Federated Quality Bond Fund II:
Tax Qualified .............................. 8 9.777237 78 (2)%(a)
Non-tax Qualified .......................... 174 9.777237 1,701 (2)%(a)
Fidelity VIP - Equity-Income Portfolio -
Service Class:
Tax Qualified .............................. 12,284 12.363474 151,873 5%
Non-tax Qualified .......................... 7,210 12.363474 89,141 5%
Fidelity VIP - Growth Portfolio -
Service Class:
Tax Qualified .............................. 33,817 17.468631 590,737 35%
Non-tax Qualified .......................... 11,807 17.468631 206,252 35%
Fidelity VIP - High Income Portfolio -
Service Class:
Tax Qualified .............................. 1,729 11.213084 19,387 7%
Non-tax Qualified .......................... 5,530 11.213084 62,008 7%
</TABLE>
(Continued)
59
<PAGE> 59
NATIONWIDE VARIABLE ACCOUNT-9
NOTES TO FINANCIAL STATEMENTS, CONTINUED
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Fidelity VIP - Overseas Portfolio -
Service Class:
Tax Qualified .............................. 730 17.106743 12,488 40%
Non-tax Qualified .......................... 1,826 17.106743 31,237 40%
Fidelity VIP-II - Contrafund Portfolio -
Service Class:
Tax Qualified .............................. 13,606 15.653161 212,977 22%
Non-tax Qualified .......................... 5,351 15.653161 83,760 22%
Fidelity VIP-III - Growth Opportunities
Portfolio - Service Class:
Tax Qualified .............................. 8,255 12.635267 104,304 3%
Non-tax Qualified .......................... 2,412 12.635267 30,476 3%
Nationwide SAT - Balanced Fund:
Tax Qualified .............................. 2,247 10.611396 23,844 (1)%
Non-tax Qualified .......................... 317 10.611396 3,364 (1)%
Nationwide SAT -
Capital Appreciation Fund:
Tax Qualified .............................. 31,154 12.780450 398,162 3%
Non-tax Qualified .......................... 15,231 12.780450 194,659 3%
Nationwide SAT - Equity Income Fund:
Tax Qualified .............................. 654 13.829829 9,045 17%
Non-tax Qualified .......................... 1,566 13.829829 21,658 17%
Nationwide SAT - Global Equity Fund:
Non-tax Qualified .......................... 1,502 14.790595 22,215 21%
Nationwide SAT -
Government Bond Fund:
Tax Qualified .............................. 5,335 9.479885 50,575 (4)%
Non-tax Qualified .......................... 2,731 9.479885 25,890 (4)%
Nationwide SAT -
High Income Bond Fund:
Tax Qualified .............................. 2,780 10.512337 29,224 2%
Non-tax Qualified .......................... 84 10.512337 883 2%
Nationwide SAT - Money Market Fund:
Tax Qualified .............................. 4,154 10.429048 43,322 3%
Non-tax Qualified .......................... 1,374 10.429048 14,330 3%
Nationwide SAT -
Multi Sector Bond Fund:
Tax Qualified .............................. 935 10.251777 9,585 0%
Non-tax Qualified .......................... 68 10.251777 697 0%
Nationwide SAT -
Select Advisers Mid Cap Fund:
Tax Qualified .............................. 871 14.599208 12,716 19%
Nationwide SAT - Small Cap Value Fund:
Tax Qualified .............................. 1,066 16.329040 17,407 26%
Non-tax Qualified .......................... 1,813 16.329040 29,605 26%
Nationwide SAT - Small Company Fund:
Tax Qualified .............................. 1,566 17.202461 26,939 42%
</TABLE>
60
<PAGE> 60
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Nationwide SAT - Strategic Growth Fund:
Tax Qualified ................................ 2,853 23.061361 65,794 82%
Non-tax Qualified ............................ 540 23.061361 12,453 82%
Nationwide SAT - Strategic Value Fund:
Tax Qualified ................................ 2,417 12.442449 30,073 (4)%
Non-tax Qualified ............................ 981 12.442449 12,206 (4)%
Nationwide SAT - Total Return Fund:
Tax Qualified ................................ 53,495 12.636905 676,011 5%
Non-tax Qualified ............................ 17,353 12.636905 219,288 5%
Neuberger & Berman AMT -
Guardian Portfolio:
Tax Qualified ................................ 1,157 14.593171 16,884 13%
Neuberger & Berman AMT -
Mid-Cap Growth Portfolio:
Tax Qualified ................................ 4,508 21.345408 96,225 52%
Non-tax Qualified ............................ 1,022 21.345408 21,815 52%
Neuberger & Berman AMT -
Partners Portfolio:
Tax Qualified ................................ 4,022 12.544255 50,453 6%
Non-tax Qualified ............................ 752 12.544255 9,433 6%
Oppenheimer VAF -
Aggressive Growth Fund:
Tax Qualified ................................ 2,253 23.864429 53,767 81%
Non-tax Qualified ............................ 2,302 23.864429 54,936 81%
Oppenheimer VAF -
Capital Appreciation Fund:
Tax Qualified ................................ 11,468 18.485985 211,997 40%
Non-tax Qualified ............................ 6,224 18.485985 115,057 40%
Oppenheimer VAF -
Main Street Growth & Income Fund:
Tax Qualified ................................ 16,970 14.798240 251,126 20%
Non-tax Qualified ............................ 5,156 14.798240 76,300 20%
Van Eck WIT -
Worldwide Emerging Markets Fund:
Tax Qualified ................................ 1,166 24.932117 29,071 97%
Non-tax Qualified ............................ 592 24.932117 14,760 97%
Van Eck WIT -
Worldwide Hard Assets Fund:
Tax Qualified ................................ 2,497 11.824722 29,526 19%
Non-tax Qualified ............................ 221 11.824722 2,613 19%
Van Kampen LIT - Morgan Stanley
Real Estate Securities Portfolio:
Tax Qualified ................................ 250 9.911855 2,478 (5)%
Non-tax Qualified ............................ 889 9.911855 8,812 (5)%
Warburg Pincus Trust -
Growth & Income Portfolio:
Tax Qualified ................................ 4,826 12.452445 60,095 5%
</TABLE>
(Continued)
61
<PAGE> 61
NATIONWIDE VARIABLE ACCOUNT-9
NOTES TO FINANCIAL STATEMENTS, CONTINUED
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURNL(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Warburg Pincus Trust -
International Equity Portfolio:
Tax Qualified ................................ 451 17.463426 7,876 51%
Non-tax Qualified ............................ 202 17.463426 3,528 51%
Warburg Pincus Trust -
Post Venture Capital Portfolio:
Tax Qualified ................................ 980 20.682481 20,269 61%
Non-tax Qualified ............................ 179 20.682481 3,702 61%
Asset fee @ 1.45% rate:
American Century VP -
American Century VP Income & Growth:
Tax Qualified ................................ 414 14.543892 6,021 16%
Non-tax Qualified ............................ 2,924 14.543892 42,526 16%
American Century VP -
American Century VP International:
Tax Qualified ................................ 2,509 19.483474 48,884 62%
Non-tax Qualified ............................ 3,787 19.483474 73,784 62%
American Century VP -
American Century VP Value:
Tax Qualified ................................ 1,405 11.012072 15,472 (2)%
The Dreyfus Socially Responsible
Growth Fund, Inc.:
Tax Qualified ................................ 4,973 16.375184 81,434 28%
Non-tax Qualified ............................ 12,145 16.375184 198,877 28%
Dreyfus Stock Index Fund:
Tax Qualified ................................ 24,817 14.801530 367,330 19%
Non-tax Qualified ............................ 33,993 14.801530 503,148 19%
Dreyfus VIF -
Capital Appreciation Portfolio:
Tax Qualified ................................ 4,035 13.597232 54,865 10%
Non-tax Qualified ............................ 2,220 13.597232 30,186 10%
Federated Insurance Series -
Federated Quality Bond Fund II:
Tax Qualified ................................ 52 9.773948 508 (2)%(a)
Fidelity VIP - Equity-Income Portfolio -
Service Class:
Tax Qualified ................................ 6,732 12.355641 83,178 5%
Non-tax Qualified ............................ 20,584 12.355641 254,329 5%
Fidelity VIP - Growth Portfolio -
Service Class:
Tax Qualified ................................ 11,174 17.457597 195,071 35%
Non-tax Qualified ............................ 11,399 17.457597 198,999 35%
Fidelity VIP - High Income Portfolio -
Service Class:
Tax Qualified ................................ 1,302 11.205978 14,590 7%
Non-tax Qualified ............................ 1,902 11.205978 21,314 7%
</TABLE>
62
<PAGE> 62
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Fidelity VIP - Overseas Portfolio -
Service Class:
Tax Qualified ............................... 1,185 17.095933 20,259 40%
Non-tax Qualified ........................... 320 17.095933 5,471 40%
Fidelity VIP-II - Contrafund Portfolio -
Service Class:
Tax Qualified ............................... 5,156 15.643260 80,657 22%
Non-tax Qualified ........................... 2,495 15.643260 39,030 22%
Fidelity VIP-III - Growth Opportunities
Portfolio - Service Class:
Tax Qualified ............................... 848 12.627255 10,708 3%
Non-tax Qualified ........................... 635 12.627255 8,018 3%
Nationwide SAT - Balanced Fund:
Tax Qualified ............................... 3,235 10.604669 34,306 (1)%
Non-tax Qualified ........................... 1,697 10.604669 17,996 (1)%
Nationwide SAT -
Capital Appreciation Fund:
Tax Qualified ............................... 5,318 12.772360 67,923 3%
Non-tax Qualified ........................... 8,223 12.772360 105,027 3%
Nationwide SAT - Equity Income Fund:
Non-tax Qualified ........................... 230 13.821079 3,179 17%
Nationwide SAT - Global Equity Fund:
Tax Qualified ............................... 1,409 14.781243 20,827 21%
Non-tax Qualified ........................... 298 14.781243 4,405 21%
Nationwide SAT -
Government Bond Fund:
Tax Qualified ............................... 2,805 9.473867 26,574 (4)%
Non-tax Qualified ........................... 25,195 9.473867 238,694 (4)%
Nationwide SAT -
High Income Bond Fund:
Tax Qualified ............................... 1,761 10.505688 18,501 2%
Non-tax Qualified ........................... 522 10.505688 5,484 2%
Nationwide SAT - Money Market Fund:
Tax Qualified ............................... 17,714 10.422427 184,623 3%
Non-tax Qualified ........................... 9,674 10.422427 100,827 3%
Nationwide SAT -
Multi Sector Bond Fund:
Tax Qualified ............................... 332 10.245290 3,401 0%
Non-tax Qualified ........................... 414 10.245290 4,242 0%
Nationwide SAT - Select Advisers
Small Cap Growth Fund:
Tax Qualified ............................... 1,671 20.304522 33,929 103%(a)
Non-tax Qualified ........................... 199 20.304522 4,041 103%(a)
Nationwide SAT - Small Cap Value Fund:
Tax Qualified ............................... 2,229 16.318704 36,374 26%
Non-tax Qualified ........................... 722 16.318704 11,782 26%
Nationwide SAT - Small Company Fund:
Tax Qualified ............................... 735 17.191574 12,636 42%
Non-tax Qualified ........................... 107 17.191574 1,839 42%
</TABLE>
(Continued)
63
<PAGE> 63
NATIONWIDE VARIABLE ACCOUNT-9
NOTES TO FINANCIAL STATEMENTS, CONTINUED
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Nationwide SAT - Strategic Growth Fund:
Tax Qualified ................................. 4,278 23.046789 98,594 82%
Non-tax Qualified ............................. 909 23.046789 20,950 82%
Nationwide SAT - Strategic Value Fund:
Tax Qualified ................................. 2,281 12.434581 28,363 (4)%
Non-tax Qualified ............................. 644 12.434581 8,008 (4)%
Nationwide SAT - Total Return Fund:
Tax Qualified ................................. 15,219 12.628895 192,199 5%
Non-tax Qualified ............................. 29,418 12.628895 371,517 5%
Neuberger & Berman AMT -
Guardian Portfolio:
Tax Qualified ................................. 1,068 14.583938 15,576 13%
Non-tax Qualified ............................. 416 14.583938 6,067 13%
Neuberger & Berman AMT -
Mid-Cap Growth Portfolio:
Tax Qualified ................................. 1,230 21.331920 26,238 52%
Non-tax Qualified ............................. 1,717 21.331920 36,627 52%
Neuberger & Berman AMT -
Partners Portfolio:
Tax Qualified ................................. 4,900 12.536312 61,428 6%
Non-tax Qualified ............................. 1,254 12.536312 15,721 6%
Oppenheimer VAF -
Aggressive Growth Fund:
Tax Qualified ................................. 1,448 23.849355 34,534 81%
Non-tax Qualified ............................. 24,213 23.849355 577,464 81%
Oppenheimer VAF -
Capital Appreciation Fund:
Tax Qualified ................................. 3,780 18.474301 69,833 40%
Non-tax Qualified ............................. 167 18.474301 3,085 40%
Oppenheimer VAF -
Main Street Growth & Income Fund:
Tax Qualified ................................. 6,006 14.788879 88,822 20%
Non-tax Qualified ............................. 5,080 14.788879 75,128 20%
Van Eck WIT -
Worldwide Emerging Markets Fund:
Non-tax Qualified ............................. 15,963 24.916384 397,740 97%
Van Eck WIT -
Worldwide Hard Assets Fund:
Tax Qualified ................................. 175 11.817233 2,068 19%
Warburg Pincus Trust -
International Equity Portfolio:
Tax Qualified ................................. 576 17.452381 10,053 51%
Non-tax Qualified ............................. 160 17.452381 2,792 51%
</TABLE>
64
<PAGE> 64
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Asset fee @ 1.50% rate:
American Century VP -
American Century VP Income & Growth:
Tax Qualified ................................ 3,663 14.534695 53,241 16%
Non-tax Qualified ............................ 6,265 14.534695 91,060 16%
American Century VP -
American Century VP International:
Tax Qualified ................................ 8,561 19.471172 166,693 62%
Non-tax Qualified ............................ 26,531 19.471172 516,590 62%
American Century VP -
American Century VP Value:
Tax Qualified ................................ 3,088 11.005082 33,984 (2)%
Non-tax Qualified ............................ 4,545 11.005082 50,018 (2)%
The Dreyfus Socially Responsible
Growth Fund, Inc.:
Tax Qualified ................................ 4,710 16.364824 77,078 28%
Non-tax Qualified ............................ 6,899 16.364824 112,901 28%
Dreyfus Stock Index Fund:
Tax Qualified ................................ 23,916 14.792159 353,769 19%
Non-tax Qualified ............................ 161,203 14.792159 2,384,540 19%
Dreyfus VIF -
Capital Appreciation Portfolio:
Tax Qualified ................................ 4,670 13.588614 63,459 10%
Non-tax Qualified ............................ 13,830 13.588614 187,931 10%
Federated Insurance Series -
Federated Quality Bond Fund II:
Tax Qualified ................................ 836 9.770666 8,168 (2)%(a)
Non-tax Qualified ............................ 709 9.770666 6,927 (2)%(a)
Fidelity VIP - Equity-Income Portfolio -
Service Class:
Tax Qualified ................................ 6,909 12.347825 85,311 5%
Non-tax Qualified ............................ 22,337 12.347825 275,813 5%
Fidelity VIP - Growth Portfolio -
Service Class:
Tax Qualified ................................ 14,697 17.446540 256,412 35%
Non-tax Qualified ............................ 48,559 17.446540 847,187 35%
Fidelity VIP - High Income Portfolio -
Service Class:
Tax Qualified ................................ 5,498 11.198884 61,571 6%
Non-tax Qualified ............................ 5,829 11.198884 65,278 6%
Fidelity VIP - Overseas Portfolio -
Service Class:
Tax Qualified ................................ 5,314 17.085125 90,790 40%
Non-tax Qualified ............................ 5,076 17.085125 86,724 40%
Fidelity VIP-II - Contrafund Portfolio -
Service Class:
Tax Qualified ................................ 13,326 15.633362 208,330 22%
Non-tax Qualified ............................ 46,095 15.633362 720,620 22%
</TABLE>
(Continued)
65
<PAGE> 65
NATIONWIDE VARIABLE ACCOUNT-9
NOTES TO FINANCIAL STATEMENTS, CONTINUED
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Fidelity VIP-III - Growth Opportunities
Portfolio - Service Class:
Tax Qualified ................................ 1,253 12.619265 15,812 3%
Non-tax Qualified ............................ 10,842 12.619265 136,818 3%
Nationwide SAT - Balanced Fund:
Tax Qualified ................................ 1,182 10.597955 12,527 (1)%
Non-tax Qualified ............................ 5,274 10.597955 55,894 (1)%
Nationwide SAT -
Capital Appreciation Fund:
Tax Qualified ................................ 8,204 12.764281 104,718 3%
Non-tax Qualified ............................ 21,195 12.764281 270,539 3%
Nationwide SAT - Equity Income Fund:
Tax Qualified ................................ 3,142 13.812331 43,398 17%
Non-tax Qualified ............................ 506 13.812331 6,989 17%
Nationwide SAT - Global Equity Fund:
Non-tax Qualified ............................ 2,864 14.771891 42,307 21%
Nationwide SAT -
Government Bond Fund:
Tax Qualified ................................ 594 9.467860 5,624 (4)%
Non-tax Qualified ............................ 15,319 9.467860 145,038 (4)%
Nationwide SAT -
High Income Bond Fund:
Tax Qualified ................................ 1,397 10.499020 14,667 2%
Non-tax Qualified ............................ 4,971 10.499020 52,191 2%
Nationwide SAT - Money Market Fund:
Tax Qualified ................................ 27,321 10.415808 284,570 3%
Non-tax Qualified ............................ 71,293 10.415808 742,574 3%
Nationwide SAT -
Multi Sector Bond Fund:
Non-tax Qualified ............................ 510 10.238786 5,222 0%
Nationwide SAT -
Select Advisers Mid Cap Fund:
Tax Qualified ................................ 95 14.580726 1,385 19%
Non-tax Qualified ............................ 828 14.580726 12,073 19%
Nationwide SAT - Select Advisers
Small Cap Growth Fund:
Non-tax Qualified ............................ 15,068 20.297724 305,846 103%(a)
Nationwide SAT - Small Cap Value Fund:
Tax Qualified ................................ 1,330 16.308373 21,690 26%
Non-tax Qualified ............................ 12,715 16.308373 207,361 26%
Nationwide SAT - Small Company Fund:
Tax Qualified ................................ 1,878 17.180698 32,265 42%
Non-tax Qualified ............................ 5,539 17.180698 95,164 42%
Nationwide SAT - Strategic Growth Fund:
Tax Qualified ................................ 2,548 23.032196 58,686 82%
Non-tax Qualified ............................ 14,951 23.032196 344,354 82%
</TABLE>
66
<PAGE> 66
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Nationwide SAT - Strategic Value Fund:
Tax Qualified ................................. 6,036 12.426696 75,008 (5)%
Non-tax Qualified ............................. 415 12.426696 5,157 (5)%
Nationwide SAT - Total Return Fund:
Tax Qualified ................................. 4,117 12.620906 51,960 5%
Non-tax Qualified ............................. 13,709 12.620906 173,020 5%
Neuberger & Berman AMT -
Guardian Portfolio:
Non-tax Qualified ............................. 4,796 14.574691 69,900 13%
Neuberger & Berman AMT -
Mid-Cap Growth Portfolio:
Tax Qualified ................................. 2,024 21.318413 43,148 52%
Non-tax Qualified ............................. 5,716 21.318413 121,856 52%
Neuberger & Berman AMT -
Partners Portfolio:
Tax Qualified ................................. 14 12.528364 175 6%
Non-tax Qualified ............................. 3,727 12.528364 46,693 6%
Oppenheimer VAF -
Aggressive Growth Fund:
Tax Qualified ................................. 1,951 23.834283 46,501 81%
Non-tax Qualified ............................. 21,397 23.834283 509,982 81%
Oppenheimer VAF -
Capital Appreciation Fund:
Tax Qualified ................................. 10,109 18.462618 186,639 40%
Non-tax Qualified ............................. 11,501 18.462618 212,339 40%
Oppenheimer VAF -
Main Street Growth & Income Fund:
Tax Qualified ................................. 6,327 14.779520 93,510 20%
Non-tax Qualified ............................. 11,838 14.779520 174,960 20%
Van Eck WIT -
Worldwide Emerging Markets Fund:
Non-tax Qualified ............................. 338 24.900624 8,416 97%
Van Eck WIT -
Worldwide Hard Assets Fund:
Non-tax Qualified ............................. 296 11.809742 3,496 19%
Van Kampen LIT - Morgan Stanley
Real Estate Securities Portfolio:
Non-tax Qualified ............................. 414 9.899304 4,098 (5)%
Victory VIF - Diversified Stock Fund -
Class A:
Tax Qualified ................................. 1,414 10.045034 14,204 0%(a)
Non-tax Qualified ............................. 3,685 10.045034 37,016 0%(a)
Victory VIF - Investment Quality
Bond Fund - Class A:
Tax Qualified ................................. 390 9.916014 3,867 (1)%(a)
Victory VIF - Small Company
Opportunity Fund - Class A:
Tax Qualified ................................. 208 9.881888 2,055 (1)%(a)
Non-tax Qualified ............................. 638 9.881888 6,305 (1)%(a)
</TABLE>
(Continued)
67
<PAGE> 67
NATIONWIDE VARIABLE ACCOUNT-9
NOTES TO FINANCIAL STATEMENTS, CONTINUED
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Warburg Pincus Trust -
Growth & Income Portfolio:
Tax Qualified ................................. 88 12.436688 1,094 5%
Non-tax Qualified ............................. 3,500 12.436688 43,528 5%
Warburg Pincus Trust -
International Equity Portfolio:
Tax Qualified ................................. 455 17.441358 7,936 51%
Non-tax Qualified ............................. 1,102 17.441358 19,220 51%
Asset fee @ 1.55% rate:
American Century VP -
American Century VP International:
Non-tax Qualified ............................. 175 19.458849 3,405 62%
American Century VP -
American Century VP Value:
Tax Qualified ................................. 3,076 10.998104 33,830 (2)%
The Dreyfus Socially Responsible
Growth Fund, Inc.:
Tax Qualified ................................. 90 16.354471 1,472 28%
Non-tax Qualified ............................. 90 16.354471 1,472 28%
Dreyfus Stock Index Fund:
Tax Qualified ................................. 2,465 14.782794 36,440 19%
Non-tax Qualified ............................. 1,115 14.782794 16,483 19%
Dreyfus VIF -
Capital Appreciation Portfolio:
Non-tax Qualified ............................. 337 13.580004 4,576 10%
Fidelity VIP - Equity-Income Portfolio -
Service Class:
Tax Qualified ................................. 2,679 12.339995 33,059 5%
Non-tax Qualified ............................. 3,242 12.339995 40,006 5%
Fidelity VIP - Growth Portfolio -
Service Class:
Tax Qualified ................................. 2,316 17.435504 40,381 35%
Non-tax Qualified ............................. 405 17.435504 7,061 35%
Fidelity VIP - High Income Portfolio -
Service Class:
Non-tax Qualified ............................. 718 11.191773 8,036 6%
Fidelity VIP - Overseas Portfolio -
Service Class:
Non-tax Qualified ............................. 190 17.074312 3,244 40%
Fidelity VIP-II - Contrafund Portfolio -
Service Class:
Tax Qualified ................................. 3,468 15.623458 54,182 22%
Non-tax Qualified ............................. 873 15.623458 13,639 22%
Fidelity VIP-III - Growth Opportunities
Portfolio - Service Class:
Tax Qualified ................................. 3,980 12.611273 50,193 3%
</TABLE>
68
<PAGE> 68
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Nationwide SAT -
Capital Appreciation Fund:
Tax Qualified ................................ 4,822 12.756184 61,510 3%
Non-tax Qualified ............................ 1,555 12.756184 19,836 3%
Nationwide SAT - Global Equity Fund:
Tax Qualified ................................ 2,000 14.762540 29,525 21%
Nationwide SAT -
Government Bond Fund:
Tax Qualified ................................ 139 9.461864 1,315 (4)%
Non-tax Qualified ............................ 426 9.461864 4,031 (4)%
Nationwide SAT -
High Income Bond Fund:
Non-tax Qualified ............................ 327 10.492359 3,431 2%
Nationwide SAT -
Select Advisers Mid Cap Fund:
Tax Qualified ................................ 2,028 14.571500 29,551 19%
Nationwide SAT - Strategic Growth Fund:
Non-tax Qualified ............................ 69 23.017640 1,588 82%
Nationwide SAT - Total Return Fund:
Tax Qualified ................................ 7,634 12.612898 96,287 5%
Non-tax Qualified ............................ 582 12.612898 7,341 5%
Neuberger & Berman AMT -
Guardian Portfolio:
Non-tax Qualified ............................ 1,377 14.565469 20,057 13%
Neuberger & Berman AMT -
Mid-Cap Growth Portfolio:
Tax Qualified ................................ 1,708 21.304943 36,389 52%
Non-tax Qualified ............................ 235 21.304943 5,007 52%
Neuberger & Berman AMT -
Partners Portfolio:
Non-tax Qualified ............................ 293 12.520433 3,668 6%
Oppenheimer VAF -
Aggressive Growth Fund:
Non-tax Qualified ............................ 144 23.819210 3,430 81%
Oppenheimer VAF -
Main Street Growth & Income Fund:
Tax Qualified ................................ 3,469 14.770155 51,238 20%
Warburg Pincus Trust -
Growth & Income Portfolio:
Non-tax Qualified ............................ 366 12.428801 4,549 5%
Asset fee @ 1.60% rate:
American Century VP -
American Century VP International:
Non-tax Qualified ............................ 15 19.446544 292 61%
The Dreyfus Socially Responsible
Growth Fund, Inc.:
Non-tax Qualified ............................ 160 16.344103 2,615 28%
</TABLE>
(Continued)
69
<PAGE> 69
NATIONWIDE VARIABLE ACCOUNT-9
NOTES TO FINANCIAL STATEMENTS, CONTINUED
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Dreyfus Stock Index Fund:
Non-tax Qualified ............................ 1,231 14.773416 18,186 19%
Fidelity VIP - Growth Portfolio -
Service Class:
Non-tax Qualified ............................ 1,135 17.424460 19,777 35%
Nationwide SAT -
Capital Appreciation Fund:
Non-tax Qualified ............................ 1,104 12.748099 14,074 3%
Nationwide SAT -
Government Bond Fund:
Non-tax Qualified ............................ 213 9.455873 2,014 (4)%
Nationwide SAT -
High Income Bond Fund:
Non-tax Qualified ............................ 131 10.485712 1,374 2%
Nationwide SAT - Small Cap Value Fund:
Non-tax Qualified ............................ 68 16.287722 1,108 26%
Nationwide SAT - Strategic Growth Fund:
Non-tax Qualified ............................ 74 23.003080 1,702 82%
Oppenheimer VAF -
Capital Appreciation Fund:
Non-tax Qualified ............................ 1,078 18.439240 19,878 39%
Warburg Pincus Trust -
International Equity Portfolio:
Non-tax Qualified ............................ 78 17.419297 1,359 51%
Asset fee @ 1.65% rate:
American Century VP -
American Century VP Income & Growth:
Tax Qualified ................................ 158 14.507084 2,292 16%
Non-tax Qualified ............................ 3,473 14.507084 50,383 16%
American Century VP -
American Century VP International:
Tax Qualified ................................ 1,878 19.434239 36,498 61%
Non-tax Qualified ............................ 469 19.434239 9,115 61%
American Century VP -
American Century VP Value:
Tax Qualified ................................ 3,221 10.984159 35,380 (2)%
Non-tax Qualified ............................ 1,409 10.984159 15,477 (2)%
The Dreyfus Socially Responsible
Growth Fund, Inc.:
Tax Qualified ................................ 6,744 16.333747 110,155 28%
Non-tax Qualified ............................ 779 16.333747 12,724 28%
Dreyfus Stock Index Fund:
Tax Qualified ................................ 4,680 14.764046 69,096 19%
Non-tax Qualified ............................ 5,396 14.764046 79,667 19%
</TABLE>
70
<PAGE> 70
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Dreyfus VIF -
Capital Appreciation Portfolio:
Tax Qualified ................................. 75 13.562791 1,017 10%
Non-tax Qualified ............................. 234 13.562791 3,174 10%
Federated Insurance Series -
Federated Quality Bond Fund II:
Non-tax Qualified ............................. 594 9.760781 5,798 (2)%(a)
Fidelity VIP - Equity-Income Portfolio -
Service Class:
Tax Qualified ................................. 3,726 12.324339 45,920 5%
Non-tax Qualified ............................. 6,993 12.324339 86,184 5%
Fidelity VIP - Growth Portfolio -
Service Class:
Tax Qualified ................................. 23,480 17.413426 408,867 35%
Non-tax Qualified ............................. 30,916 17.413426 538,353 35%
Fidelity VIP - High Income Portfolio -
Service Class:
Tax Qualified ................................. 2,133 11.177582 23,842 6%
Non-tax Qualified ............................. 1,087 11.177582 12,150 6%
Fidelity VIP - Overseas Portfolio -
Service Class:
Tax Qualified ................................. 594 17.052691 10,129 40%
Non-tax Qualified ............................. 277 17.052691 4,724 40%
Fidelity VIP-II - Contrafund Portfolio -
Service Class:
Tax Qualified ................................. 1,471 15.603664 22,953 22%
Non-tax Qualified ............................. 12,941 15.603664 201,927 22%
Fidelity VIP-III - Growth Opportunities
Portfolio - Service Class:
Tax Qualified ................................. 1,795 12.595275 22,609 2%
Non-tax Qualified ............................. 3,112 12.595275 39,196 2%
Morgan Stanley -
Emerging Markets Debt Portfolio:
Tax Qualified ................................. 388 14.479873 5,618 27%
Nationwide SAT - Balanced Fund:
Tax Qualified ................................. 1,116 10.577794 11,805 (1)%
Non-tax Qualified ............................. 60 10.577794 635 (1)%
Nationwide SAT -
Capital Appreciation Fund:
Tax Qualified ................................. 8,335 12.740010 106,188 3%
Non-tax Qualified ............................. 11,336 12.740010 144,421 3%
Nationwide SAT - Equity Income Fund:
Tax Qualified ................................. 32 13.786084 441 17%
Non-tax Qualified ............................. 658 13.786084 9,071 17%
Nationwide SAT -
Government Bond Fund:
Tax Qualified ................................. 10,206 9.449856 96,445 (4)%
</TABLE>
(Continued)
71
<PAGE> 71
NATIONWIDE VARIABLE ACCOUNT-9
NOTES TO FINANCIAL STATEMENTS, CONTINUED
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Nationwide SAT -
High Income Bond Fund:
Non-tax Qualified ............................. 1,098 10.479056 11,506 1%
Nationwide SAT - Money Market Fund:
Tax Qualified ................................. 3,546 10.395950 36,864 3%
Non-tax Qualified ............................. 10,669 10.395950 110,914 3%
Nationwide SAT -
Multi Sector Bond Fund:
Non-tax Qualified ............................. 1,554 10.219313 15,881 0%
Nationwide SAT -
Select Advisers Mid Cap Fund:
Tax Qualified ................................. 120 14.553031 1,746 19%
Nationwide SAT - Small Cap Value Fund:
Tax Qualified ................................. 872 16.277398 14,194 26%
Nationwide SAT - Strategic Growth Fund:
Tax Qualified ................................. 228 22.988509 5,241 82%
Non-tax Qualified ............................. 428 22.988509 9,839 82%
Nationwide SAT - Strategic Value Fund:
Non-tax Qualified ............................. 195 12.403079 2,419 (5)%
Nationwide SAT - Total Return Fund:
Tax Qualified ................................. 495 12.596911 6,235 5%
Non-tax Qualified ............................. 1,567 12.596911 19,739 5%
Neuberger & Berman AMT -
Guardian Portfolio:
Non-tax Qualified ............................. 156 14.547000 2,269 13%
Neuberger & Berman AMT -
Mid-Cap Growth Portfolio:
Tax Qualified ................................. 271 21.277954 5,766 51%
Non-tax Qualified ............................. 256 21.277954 5,447 51%
Neuberger & Berman AMT -
Partners Portfolio:
Tax Qualified ................................. 380 12.504542 4,752 6%
Non-tax Qualified ............................. 845 12.504542 10,566 6%
Oppenheimer VAF -
Aggressive Growth Fund:
Tax Qualified ................................. 3,311 23.789077 78,766 81%
Non-tax Qualified ............................. 2,068 23.789077 49,196 81%
Oppenheimer VAF -
Capital Appreciation Fund:
Tax Qualified ................................. 235 18.427568 4,330 39%
Non-tax Qualified ............................. 1,733 18.427568 31,935 39%
Oppenheimer VAF -
Main Street Growth & Income Fund:
Tax Qualified ................................. 17,731 14.751442 261,558 20%
Non-tax Qualified ............................. 1,074 14.751442 15,843 20%
</TABLE>
72
<PAGE> 72
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Van Eck WIT -
Worldwide Emerging Markets Fund:
Tax Qualified ................................ 616 24.853443 15,310 97%
Van Eck WIT -
Worldwide Hard Assets Fund:
Tax Qualified ................................ 423 11.787279 4,986 19%
Victory VIF - Diversified Stock Fund -
Class A:
Non-tax Qualified ............................ 1,948 10.037475 19,553 0%(a)
Victory VIF - Investment Quality
Bond Fund - Class A:
Non-tax Qualified ............................ 750 9.908553 7,431 (1)%(a)
Victory VIF - Small Company
Opportunity Fund - Class A:
Non-tax Qualified ............................ 432 9.874460 4,266 (1)%(a)
Warburg Pincus Trust -
International Equity Portfolio:
Non-tax Qualified ............................ 531 17.408242 9,244 51%
Warburg Pincus Trust -
Post Venture Capital Portfolio:
Non-tax Qualified ............................ 23 20.617144 474 61%
Asset fee @ 1.70% rate:
American Century VP -
American Century VP Income & Growth:
Tax Qualified ................................ 48 10.894734 523 9%
Non-tax Qualified ............................ 169 10.894734 1,841 9%
American Century VP -
American Century VP International:
Non-tax Qualified ............................ 48 15.314929 735 53%
American Century VP -
American Century VP Value:
Non-tax Qualified ............................ 49 8.780117 430 (12)%
The Dreyfus Socially Responsible
Growth Fund, Inc.:
Tax Qualified ................................ 256 11.868131 3,038 19%
Non-tax Qualified ............................ 330 11.868131 3,916 19%
Dreyfus Stock Index Fund:
Tax Qualified ................................ 2,986 10.794215 32,232 8%
Non-tax Qualified ............................ 508 10.794215 5,483 8%
Dreyfus VIF -
Capital Appreciation Portfolio:
Tax Qualified ................................ 584 10.184154 5,948 2%
Non-tax Qualified ............................ 38 10.184154 387 2%
Fidelity VIP - Equity-Income Portfolio -
Service Class:
Tax Qualified ................................ 305 9.309967 2,840 (7)%
Non-tax Qualified ............................ 459 9.309967 4,273 (7)%
</TABLE>
(Continued)
73
<PAGE> 73
NATIONWIDE VARIABLE ACCOUNT-9
NOTES TO FINANCIAL STATEMENTS, CONTINUED
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Fidelity VIP - Growth Portfolio -
Service Class:
Tax Qualified ................................ 5,243 12.322268 64,606 23%
Non-tax Qualified ............................ 474 12.322268 5,841 23%
Fidelity VIP - Overseas Portfolio -
Service Class:
Non-tax Qualified ............................ 254 13.058898 3,317 31%
Fidelity VIP-II - Contrafund Portfolio -
Service Class:
Tax Qualified ................................ 2,571 11.278366 28,997 13%
Non-tax Qualified ............................ 455 11.278366 5,132 13%
Fidelity VIP-III - Growth Opportunities
Portfolio - Service Class:
Tax Qualified ................................ 122 9.869824 1,204 (1)%
Non-tax Qualified ............................ 68 9.869824 671 (1)%
Nationwide SAT - Balanced Fund:
Tax Qualified ................................ 77 9.481422 730 (5)%
Nationwide SAT -
Capital Appreciation Fund:
Non-tax Qualified ............................ 110 9.707627 1,068 (3)%
Nationwide SAT - Equity Income Fund:
Non-tax Qualified ............................ 102 10.778958 1,099 8%
Nationwide SAT - Money Market Fund:
Non-tax Qualified ............................ 599 10.209430 6,115 2%
Nationwide SAT - Select Advisers
Small Cap Growth Fund:
Non-tax Qualified ............................ 12 20.270503 243 103%(a)
Nationwide SAT - Small Cap Value Fund:
Non-tax Qualified ............................ 20 11.697140 234 17%
Nationwide SAT - Small Company Fund:
Non-tax Qualified ............................ 237 14.124755 3,348 41%
Nationwide SAT - Strategic Growth Fund:
Tax Qualified ................................ 5 14.658438 73 47%
Non-tax Qualified ............................ 121 14.658438 1,774 47%
Nationwide SAT - Total Return Fund:
Tax Qualified ................................ 298 9.851989 2,936 (1)%
Non-tax Qualified ............................ 146 9.851989 1,438 (1)%
Neuberger & Berman AMT -
Guardian Portfolio:
Non-tax Qualified ............................ 22 9.968645 219 0%
Neuberger & Berman AMT -
Mid-Cap Growth Portfolio:
Tax Qualified ................................ 19 15.264119 290 53%
Non-tax Qualified ............................ 99 15.264119 1,511 53%
</TABLE>
74
<PAGE> 74
NATIONWIDE VARIABLE ACCOUNT-9
NOTES TO FINANCIAL STATEMENTS, CONTINUED
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Neuberger & Berman AMT -
Partners Portfolio:
Non-tax Qualified .............................. 23 9.504551 219 (5)%
Oppenheimer VAF -
Aggressive Growth Fund:
Tax Qualified .................................. 429 16.070617 6,894 61%
Non-tax Qualified .............................. 15 16.070617 241 61%
Oppenheimer VAF -
Capital Appreciation Fund:
Tax Qualified .................................. 485 12.759449 6,188 28%
Non-tax Qualified .............................. 176 12.759449 2,246 28%
Oppenheimer VAF -
Main Street Growth & Income Fund:
Tax Qualified .................................. 2,487 10.784586 26,821 8%
Van Eck WIT -
Worldwide Emerging Markets Fund:
Non-tax Qualified .............................. 16 15.596564 250 56%
Van Eck WIT -
Worldwide Hard Assets Fund:
Non-tax Qualified .............................. 23 9.987144 230 0%
Warburg Pincus Trust -
Growth & Income Portfolio:
Non-tax Qualified .............................. 125 9.340613 1,168 (7)%
Asset fee @ 1.75% rate:
American Century VP -
American Century VP Income & Growth:
Tax Qualified .................................. 375 10.891060 4,084 9%
American Century VP -
American Century VP Value:
Tax Qualified .................................. 132 8.777154 1,159 (12)%
The Dreyfus Socially Responsible
Growth Fund, Inc.:
Tax Qualified .................................. 194 11.864126 2,302 19%
Dreyfus Stock Index Fund:
Tax Qualified .................................. 820 10.790571 8,848 8%
Non-tax Qualified .............................. 1,372 10.790571 14,805 8%
Dreyfus VIF -
Capital Appreciation Portfolio:
Tax Qualified .................................. 192 10.180717 1,955 2%
Fidelity VIP - Growth Portfolio -
Service Class:
Tax Qualified .................................. 205 12.318116 2,525 23%
Non-tax Qualified .............................. 7,228 12.318116 89,035 23%
Fidelity VIP-II - Contrafund Portfolio -
Service Class:
Tax Qualified .................................. 153 11.274564 1,725 13%
Non-tax Qualified .............................. 625 11.274564 7,047 13%
</TABLE>
(Continued)
75
<PAGE> 75
NATIONWIDE VARIABLE ACCOUNT-9
NOTES TO FINANCIAL STATEMENTS, CONTINUED
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Fidelity VIP-III - Growth Opportunities
Portfolio - Service Class:
Tax Qualified ................................ 133 9.866489 1,312 (1)%
Nationwide SAT - Equity Income Fund:
Tax Qualified ................................ 191 10.775320 2,058 8%
Nationwide SAT -
Government Bond Fund:
Tax Qualified ................................ 235 9.731842 2,287 (3)%
Nationwide SAT - Money Market Fund:
Non-tax Qualified ............................ 3,456 10.205942 35,272 2%
Nationwide SAT - Small Company Fund:
Non-tax Qualified ............................ 1,202 14.120006 16,972 41%
Nationwide SAT - Total Return Fund:
Non-tax Qualified ............................ 1,503 9.848668 14,803 (2)%
Oppenheimer VAF -
Aggressive Growth Fund:
Non-tax Qualified ............................ 424 16.065210 6,812 61%
Oppenheimer VAF -
Capital Appreciation Fund:
Tax Qualified ................................ 183 12.755147 2,334 28%
Oppenheimer VAF -
Main Street Growth & Income Fund:
Tax Qualified ................................ 41 10.780952 442 8%
Non-tax Qualified ............................ 504 10.780952 5,434 8%
Van Kampen LIT - Morgan Stanley
Real Estate Securities Portfolio:
Non-tax Qualified ............................ 1,471 9.009528 13,253 (10)%
Warburg Pincus Trust -
Growth & Income Portfolio:
Tax Qualified ................................ 53 9.337456 495 (7)%
Asset fee @ 1.80% rate:
American Century VP -
American Century VP Income & Growth:
Tax Qualified ................................ 2,334 10.887381 25,411 9%
The Dreyfus Socially Responsible
Growth Fund, Inc.:
Tax Qualified ................................ 2,591 11.860138 30,730 19%
Dreyfus Stock Index Fund:
Tax Qualified ................................ 3,195 10.786928 34,464 8%
Non-tax Qualified ............................ 1,636 10.786928 17,647 8%
Fidelity VIP - Equity-Income Portfolio -
Service Class:
Tax Qualified ................................ 646 9.303685 6,010 (7)%
Non-tax Qualified ............................ 3,863 9.303685 35,940 (7)%
</TABLE>
76
<PAGE> 76
NATIONWIDE VARIABLE ACCOUNT-9
NOTES TO FINANCIAL STATEMENTS, CONTINUED
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN(b)
--------- ----------- ---------
<S> <C> <C> <C> <C>
Fidelity VIP - Growth Portfolio -
Service Class:
Tax Qualified ............................... 5,519 12.313961 67,961 23%
Non-tax Qualified ........................... 268 12.313961 3,300 23%
Fidelity VIP-II - Contrafund Portfolio -
Service Class:
Tax Qualified ............................... 378 11.270766 4,260 13%
Fidelity VIP-III - Growth Opportunities
Portfolio - Service Class:
Tax Qualified ............................... 1,929 9.863165 19,026 (1)%
Non-tax Qualified ........................... 311 9.863165 3,067 (1)%
Nationwide SAT -
Capital Appreciation Fund:
Tax Qualified ............................... 3,065 9.701077 29,734 (3)%
Nationwide SAT - Small Company Fund:
Tax Qualified ............................... 308 14.115240 4,347 41%
Nationwide SAT - Strategic Value Fund:
Tax Qualified ............................... 995 8.542404 8,500 (15)%
Nationwide SAT - Total Return Fund:
Tax Qualified ............................... 30 9.845340 295 (2)%
Oppenheimer VAF -
Capital Appreciation Fund:
Tax Qualified ............................... 5,062 12.750840 64,545 28%
Non-tax Qualified ........................... 270 12.750840 3,443 28%
Oppenheimer VAF -
Main Street Growth & Income Fund:
Non-tax Qualified ........................... 1,312 10.777319 14,140 8%
Nationwide SAT -
Select Advisers Small Cap Growth Fund:
Initial funding by depositor ................ 100,000 20.501257 2,050,126 105%(a)
Victory VIF - Diversified Stock Fund -
Class A:
Initial funding by depositor ................ 100,000 10.120885 1,012,088 1%(a)
Victory VIF - Investment Quality
Bond Fund - Class A:
Initial funding by depositor ................ 100,000 10.020857 1,002,086 2%(a)
Victory VIF - Small Company
Opportunity Fund - Class A:
Initial funding by depositor ................ 100,000 9.956513 995,651 (4)%(a)
========= ========== --------------
Reserves for annuity contracts in payout phase:
Non-tax qualified ........................... 17,085
--------------
$6,530,166,060
==============
</TABLE>
(a) Non-annualized. The return was computed for the period 9/27/99, 5/03/99,
5/03/99, 7/01/99, 7/01/99 and 7/01/99 (effective dates) through 12/31/99
for Dreyfus VIF - European Equities Fund, Federated Insurance Series:
Federated Quality Bond Fund II, Nationwide SAT - Select Advisors Small Cap
Growth Fund, Victory VIF - Diversified Stock Fund - Class A, Victory VIF -
Investment Quality Bond Fund - Class A and Victory VIF - Small Company
Opportunity Fund - Class A, respectively.
(b) The annual return does not include contract charges satisfied by
surrendering units.
- --------------------------------------------------------------------------------
77
<PAGE> 77
INDEPENDENT AUDITOR'S REPORT
----------------------------
The Board of Directors of Nationwide Life Insurance Company and
Contract Owners of Nationwide Variable Account-9:
We have audited the accompanying statement of assets, liabilities and
contract owners' equity of Nationwide Variable Account-9 (comprised of the
sub-accounts listed in note 1(b)) (collectively, "the Account") as of December
31, 1999, and the related statements of operations and changes in contract
owners' equity for each of the years in the two year period then ended. These
financial statements are the responsibility of the Account's management. Our
responsibility is to express an opinion on these financial statements based on
our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audits to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. Our procedures included
confirmation of securities owned as of December 31, 1999, by correspondence with
the transfer agents of the underlying mutual funds. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly,
in all material respects, the financial position of the Account as of December
31, 1999, and the results of its operations and its changes in contract owners'
equity for each of the years in the two year period then ended in conformity
with generally accepted accounting principles.
KPMG LLP
Columbus, Ohio
February 18, 2000
- --------------------------------------------------------------------------------
78
<PAGE> 78
[THIS PAGE LEFT BLANK INTENTIONALLY]
79
<PAGE> 79
<TABLE>
<CAPTION>
<S> <C>
--------------
NATIONWIDE LIFE INSURANCE COMPANY Bulk Rate
HOME OFFICE: ONE NATIONWIDE PLAZA - COLUMBUS, OHIO 43215-2220 U.S. Postage
PAID
Columbus, Ohio
Permit No. 521
--------------
Nationwide(R) is a registered federal service mark of Nationwide Mutual Insurance Company
</TABLE>
