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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
054 C000400 N
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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070 F010700 N
070 F020700 N
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070 G020700 N
070 H010700 N
070 H020700 N
070 I010700 N
070 I020700 N
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070 J020700 N
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070 K020700 N
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070 O010700 Y
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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<PAGE> PAGE 22
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<PAGE> PAGE 23
068 A001200 N
068 B001200 N
069 001200 N
070 A011200 Y
070 A021200 N
070 B011200 Y
070 B021200 N
070 C011200 N
070 C021200 N
070 D011200 Y
070 D021200 N
070 E011200 Y
070 E021200 N
070 F011200 Y
070 F021200 N
070 G011200 Y
070 G021200 N
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070 I011200 N
070 I021200 N
070 J011200 N
070 J021200 N
070 K011200 Y
070 K021200 N
070 L011200 Y
070 L021200 N
070 M011200 N
070 M021200 N
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070 N021200 N
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070 Q021200 N
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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<PAGE> PAGE 31
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 34
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SIGNATURE MARY JANE MALONEY
TITLE MANAGER
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EXHIBIT INDEX
EXHIBIT A: Attachment to item 77B:
Accountants report on internal control
EXHIBIT B: Attachment to item 77C:
Submission of matters to a vote of security holders.
- -------------------------------------------------------
EXHIBIT A:
Report of Independent Accountants
To the Shareholders and Board of Directors of
Pacific Horizon Funds, Inc.
In planning and performing our audit of the financial
statements of Pacific Horizon California Municipal Bond Fund,
Pacific Horizon California Tax-Exempt Money Market Fund,
Pacific Horizon Asset Allocation Fund, Pacific Horizon Blue
Chip Fund, Pacific Horizon Capital Income Fund, and Pacific
Horizon Intermediate Bond Fund (hereinafter referred to as the
"Funds") for the period ended May 14, 1999, we considered its
internal control, including control activities for safeguarding
securities, in order to determine our auditing procedures for
the purpose of expressing our opinion on the financial
statements and to comply with the requirements of Form N-SAR,
not to provide assurance on internal control.
The management of the Funds is responsible for establishing and
maintaining internal control. In fulfilling this
responsibility, estimates and judgments by management are
required to assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an audit
pertain to the entity's objective of preparing financial
statements for external purposes that are fairly presented in
conformity with generally accepted accounting principles.
Those controls include the safeguarding of assets against
unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, errors or
fraud may occur and not be detected. Also, projection of any
evaluation of internal control to future periods is subject to
the risk that it may become inadequate because of changes in
conditions or that the effectiveness of the design and
operation may deteriorate.
Our consideration of internal control would not necessarily
disclose all matters in internal control that might be material
weaknesses under standards established by the American
Institute of Certified Public Accountants. A material weakness
is a condition in which the design or operation of one or more
of the internal control components does not reduce to a
relatively low level the risk that misstatements caused by
error or fraud in amounts that would be material in relation to
the financial statements being audited may occur and not be
detected within a timely period by employees in the normal
course of performing their assigned functions. However, we
noted no matters involving internal control and its operation,
including controls for safeguarding securities, that we
consider to be material weaknesses as defined above as of May
14, 1999.
This report is intended solely for the information and use of
management and the Board of Directors of Pacific Horizon Funds,
Inc. and the Securities and Exchange Commission.
PricewaterhouseCoopers LLP
July 8, 1999
EXHIBIT B:
SUB-ITEM 77C: Submission of matters to a vote of security
holders.
(a) A Special Meeting of Shareholders of Pacific Horizon
Funds, Inc.("Pacific Horizon"), originally convened on April
12, 1999, and reconvened on April 19, 1999, May 3, 1999, and May
4, 1999.
(b) N/A
(c) The approval or disapproval of the proposed Agreements
and Plans of Reorganization by and between Pacific Horizon and
Nations Fund, Inc., Nations Fund Trust and Nations Institutional
Reserves (collectively, "Nations"), with respect to Pacific
Horizon's Flexible Income, Short-Term Government, National
Municipal Bond, Aggressive Growth, International Equity, U.S.
Government Securities, Prime, Government, Treasury, Treasury
Only, Tax-Exempt Money, California Municipal Bond, California
Tax-Exempt Money Market, Asset Allocation and Capital Income
Funds and the proposed Agreement and Plan of Reorganization by
and between Pacific Horizon and Nations Institutional Reserves
("Nations"), with respect to the Intermediate Bond and Blue
Chip Funds was voted as follows:
Number of Shares Number of Shares
Voting For the Voting Against
Resolution the Resolution
Company-Wide Vote 11,719,599,139 193,929,807
Individual Fund Vote
(Nations Fund Trust Reorganization)
Flexible Income 1,205,868 34,684
Short-Term Government 1,921,777 420
National Municipal Bond 1,160,809 9,801
(Nations Fund, Inc. Reorganization)
Aggressive Growth 4,934,074 227,923
International Equity 3,271,610 14,864
U.S. Government Securities 3,733,927 125,338
(Nations Institutional Reserves Reorganization)
Prime 7,402,031,565 102,136,608
Government 309,621,581 22,930,309
Treasury 2,294,059,916 43,582,262
Treasury Only 264,529,840 10,178,951
Tax-Exempt Money 529,425,252 3,852,544
California Municipal Bond 16,098,006 867,521
California Tax-Exempt
Money Market 847,463,844 8,351,353
Asset Allocation 8,398,482 387,602
Capital Income 10,855,984 396,879
(Nations Institutional Reserves and Nations Master Investment
Trust Reorganizations)
Intermediate Bond 7,081,212 76,442
Blue Chip 13,805,392 756,306
