NATIONS FUND TRUST
NATIONS FUND, INC.
NATIONS FUND PORTFOLIOS, INC.
Supplement dated December 9, 1998
to Prospectus dated August 1, 1998
The prospectus for the Primary B Shares of Nations Funds is hereby
supplemented by deleting the tables under the heading "Expenses Summary" for
Nations Value Fund, Nations Equity Income Fund, Nations Disciplined Equity
Fund, Nations Managed Index Fund, Nations Managed SmallCap Index Fund and
Nations Balanced Assets Fund and inserting in their place the following:
Expenses Summary
Expenses are one of several factors to consider when investing in the Funds.
The following tables summarize shareholder transaction and operating expenses
for Primary B Shares of the Funds. The Examples show the cumulative expenses
attributable to a hypothetical $1,000 investment in the Funds over specified
periods.
NATIONS FUNDS -- PRIMARY B SHARES
<TABLE>
<CAPTION>
Nations
Nations Value Nations Equity Disciplined
Shareholder Transaction Expenses Fund Income Fund Equity Fund
<S> <C> <C> <C>
Sales Load Imposed on Purchases None None None
- ---------------------------------------------------------------------------------------------------------
Deferred Sales Charge None None None
Annual Fund Operating Expenses
(as a percentage of average net assets)
Management Fees
(After Fee Waivers) .75% .63% .75%
- ---------------------------------------------------------------------------------------------------------
Other Expenses
(After Expense Reimbursements) .69% .73% .73%
- ---------------------------------------------------------------------------------------------------------
Total Operating Expenses (After Fee Waivers and Expense
Reimbursements) 1.44% 1.36% 1.48%
</TABLE>
<TABLE>
<CAPTION>
Nations
Nations Managed Nations
Managed SmallCap Balanced
Shareholder Transaction Expenses Index Fund Index Fund Assets Fund
<S> <C> <C> <C>
Sales Load Imposed on Purchases None None None
- ------------------------------------------------------------------------------------
Deferred Sales Charge None None None
- ------------------------------------------------------------------------------------
Annual Fund Operating Expenses
(as a percentage of average net assets)
Management Fees
(After Fee Waivers) .30% .30% .75%
- ------------------------------------------------------------------------------------
Other Expenses
(After Expense Reimbursements) .70% .70% .83%
- ------------------------------------------------------------------------------------
Total Operating Expenses (After Fee Waivers
and Expense Reimbursements) 1.00% 1.00% 1.58%
</TABLE>
Examples: You would pay the following expenses on a $1,000 investment in
Primary B Shares of the indicated Fund, assuming (1) a 5% annual return and (2)
redemption at the end of each time period.
<TABLE>
<CAPTION>
Nations
Nations Nations Nations Managed Nations
Nations Equity Income Disciplined Managed SmallCap Balanced
Value Fund Fund Equity Fund Index Fund Index Fund Assets Fund
<S> <C> <C> <C> <C> <C> <C>
1 Year $ 15 $ 14 $ 15 $ 10 $ 10 $ 16
- -------------------------------------------------------------------------------------------
3 Years $ 46 $ 43 $ 47 $ 32 $ 32 $ 50
- -------------------------------------------------------------------------------------------
5 Years $ 79 $ 74 $ 81 $ 55 $ 55 $ 68
- -------------------------------------------------------------------------------------------
10 Years $172 $164 $177 $122 $122 $188
</TABLE>
1
