497 1 g96066e497.txt NATIONS FUNDS TRUST INVESTMENT & EXPENSE INFORMATION SUPPLEMENT NATIONS FUNDS TRUST NATIONS CASH RESERVES NATIONS MONEY MARKET RESERVES NATIONS TREASURY RESERVES NATIONS GOVERNMENT RESERVES NATIONS MUNICIPAL RESERVES NATIONS TAX-EXEMPT RESERVES NATIONS CALIFORNIA TAX-EXEMPT RESERVES NATIONS NEW YORK TAX-EXEMPT RESERVES LIQUIDITY CLASS SHARES (THE "FUNDS") SUPPLEMENT DATED JUNE 30, 2005 TO THE PROSPECTUS DATED AUGUST 1, 2004, AS AMENDED The prospectus for the share class of the Funds is hereby supplemented to reflect the following: HYPOTHETICAL INVESTMENT AND EXPENSE INFORMATION The supplemental hypothetical investment information on the following pages provides additional information about the effect of the expenses of each Fund, including investment advisory fees and other Fund costs, on the Funds' returns over a 10-year period. The charts show the estimated expenses that would be charged on a hypothetical investment of $10,000 in the class of the Funds assuming a 5% return each year, the hypothetical year-end balance before expenses and the cumulative return after fees and expenses. The charts also assume that the annual expense ratios stay the same throughout the 10-year period and that all dividends and distributions are reinvested. The annual expense ratio used for each Fund, which is the same as that stated in the Annual Fund Operating Expenses tables, is reflected in the charts and is net of any contractual fee waiver or expense reimbursement. Your actual costs may be higher or lower. NATIONS CASH RESERVES -- LIQUIDITY CLASS SHARES
ANNUAL EXPENSE RATIO INITIAL HYPOTHETICAL INVESTMENT AMOUNT ASSUMED RATE OF RETURN 0.35% $10,000.00 5% CUMULATIVE RETURN HYPOTHETICAL YEAR- CUMULATIVE RETURN HYPOTHETICAL YEAR- ANNUAL BEFORE FEES AND END BALANCE BEFORE AFTER FEES AND END BALANCE AFTER FEES AND YEAR EXPENSES FEES AND EXPENSES EXPENSES FEES AND EXPENSES EXPENSES 1 5.00% $10,500.00 4.65% $10,465.00 $ 35.81 2 10.25% $11,025.00 9.52% $10,951.62 $ 37.48 3 15.76% $11,576.25 14.61% $11,460.87 $ 39.22 4 21.55% $12,155.06 19.94% $11,993.80 $ 41.05 5 27.63% $12,762.82 25.52% $12,551.52 $ 42.95 6 34.01% $13,400.96 31.35% $13,135.16 $ 44.95 7 40.71% $14,071.00 37.46% $13,745.95 $ 47.04 8 47.75% $14,774.55 43.85% $14,385.13 $ 49.23 9 55.13% $15,513.28 50.54% $15,054.04 $ 51.52 10 62.89% $16,288.95 57.54% $15,754.05 $ 53.91 TOTAL GAIN BEFORE FEES & EXPENSES $ 6,288.95 TOTAL GAIN AFTER FEES & EXPENSES $ 5,754.05 TOTAL ANNUAL FEES & EXPENSES PAID $443.17
NATIONS MONEY MARKET RESERVES -- LIQUIDITY CLASS SHARES
ANNUAL EXPENSE RATIO INITIAL HYPOTHETICAL INVESTMENT AMOUNT ASSUMED RATE OF RETURN 0.35% $10,000.00 5% CUMULATIVE RETURN HYPOTHETICAL YEAR- CUMULATIVE RETURN HYPOTHETICAL YEAR- ANNUAL BEFORE FEES AND END BALANCE BEFORE AFTER FEES AND END BALANCE AFTER FEES AND YEAR EXPENSES FEES AND EXPENSES EXPENSES FEES AND EXPENSES EXPENSES 1 5.00% $10,500.00 4.65% $10,465.00 $ 35.81 2 10.25% $11,025.00 9.52% $10,951.62 $ 37.48 3 15.76% $11,576.25 14.61% $11,460.87 $ 39.22 4 21.55% $12,155.06 19.94% $11,993.80 $ 41.05 5 27.63% $12,762.82 25.52% $12,551.52 $ 42.95 6 34.01% $13,400.96 31.35% $13,135.16 $ 44.95 7 40.71% $14,071.00 37.46% $13,745.95 $ 47.04 8 47.75% $14,774.55 43.85% $14,385.13 $ 49.23 9 55.13% $15,513.28 50.54% $15,054.04 $ 51.52 10 62.89% $16,288.95 57.54% $15,754.05 $ 53.91 TOTAL GAIN BEFORE FEES & EXPENSES $ 6,288.95 TOTAL GAIN AFTER FEES & EXPENSES $ 5,754.05 TOTAL ANNUAL FEES & EXPENSES PAID $443.17
2 NATIONS TREASURY RESERVES -- LIQUIDITY CLASS SHARES
ANNUAL EXPENSE RATIO INITIAL HYPOTHETICAL INVESTMENT AMOUNT ASSUMED RATE OF RETURN 0.35% $10,000.00 5% CUMULATIVE RETURN HYPOTHETICAL YEAR- CUMULATIVE RETURN HYPOTHETICAL YEAR- ANNUAL BEFORE FEES AND END BALANCE BEFORE AFTER FEES AND END BALANCE AFTER FEES AND YEAR EXPENSES FEES AND EXPENSES EXPENSES FEES AND EXPENSES EXPENSES 1 5.00% $10,500.00 4.65% $10,465.00 $ 35.81 2 10.25% $11,025.00 9.52% $10,951.62 $ 37.48 3 15.76% $11,576.25 14.61% $11,460.87 $ 39.22 4 21.55% $12,155.06 19.94% $11,993.80 $ 41.05 5 27.63% $12,762.82 25.52% $12,551.52 $ 42.95 6 34.01% $13,400.96 31.35% $13,135.16 $ 44.95 7 40.71% $14,071.00 37.46% $13,745.95 $ 47.04 8 47.75% $14,774.55 43.85% $14,385.13 $ 49.23 9 55.13% $15,513.28 50.54% $15,054.04 $ 51.52 10 62.89% $16,288.95 57.54% $15,754.05 $ 53.91 TOTAL GAIN BEFORE FEES & EXPENSES $ 6,288.95 TOTAL GAIN AFTER FEES & EXPENSES $ 5,754.05 TOTAL ANNUAL FEES & EXPENSES PAID $443.17
NATIONS GOVERNMENT RESERVES -- LIQUIDITY CLASS SHARES
ANNUAL EXPENSE RATIO INITIAL HYPOTHETICAL INVESTMENT AMOUNT ASSUMED RATE OF RETURN 0.35% $10,000.00 5% CUMULATIVE RETURN HYPOTHETICAL YEAR- CUMULATIVE RETURN HYPOTHETICAL YEAR- ANNUAL BEFORE FEES AND END BALANCE BEFORE AFTER FEES AND END BALANCE AFTER FEES AND YEAR EXPENSES FEES AND EXPENSES EXPENSES FEES AND EXPENSES EXPENSES 1 5.00% $10,500.00 4.65% $10,465.00 $ 35.81 2 10.25% $11,025.00 9.52% $10,951.62 $ 37.48 3 15.76% $11,576.25 14.61% $11,460.87 $ 39.22 4 21.55% $12,155.06 19.94% $11,993.80 $ 41.05 5 27.63% $12,762.82 25.52% $12,551.52 $ 42.95 6 34.01% $13,400.96 31.35% $13,135.16 $ 44.95 7 40.71% $14,071.00 37.46% $13,745.95 $ 47.04 8 47.75% $14,774.55 43.85% $14,385.13 $ 49.23 9 55.13% $15,513.28 50.54% $15,054.04 $ 51.52 10 62.89% $16,288.95 57.54% $15,754.05 $ 53.91 TOTAL GAIN BEFORE FEES & EXPENSES $ 6,288.95 TOTAL GAIN AFTER FEES & EXPENSES $ 5,754.05 TOTAL ANNUAL FEES & EXPENSES PAID $443.17
3 NATIONS MUNICIPAL RESERVES -- LIQUIDITY CLASS SHARES
ANNUAL EXPENSE RATIO INITIAL HYPOTHETICAL INVESTMENT AMOUNT ASSUMED RATE OF RETURN 0.35% $10,000.00 5% CUMULATIVE RETURN HYPOTHETICAL YEAR- CUMULATIVE RETURN HYPOTHETICAL YEAR- ANNUAL BEFORE FEES AND END BALANCE BEFORE AFTER FEES AND END BALANCE AFTER FEES AND YEAR EXPENSES FEES AND EXPENSES EXPENSES FEES AND EXPENSES EXPENSES 1 5.00% $10,500.00 4.65% $10,465.00 $ 35.81 2 10.25% $11,025.00 9.52% $10,951.62 $ 37.48 3 15.76% $11,576.25 14.61% $11,460.87 $ 39.22 4 21.55% $12,155.06 19.94% $11,993.80 $ 41.05 5 27.63% $12,762.82 25.52% $12,551.52 $ 42.95 6 34.01% $13,400.96 31.35% $13,135.16 $ 44.95 7 40.71% $14,071.00 37.46% $13,745.95 $ 47.04 8 47.75% $14,774.55 43.85% $14,385.13 $ 49.23 9 55.13% $15,513.28 50.54% $15,054.04 $ 51.52 10 62.89% $16,288.95 57.54% $15,754.05 $ 53.91 TOTAL GAIN BEFORE FEES & EXPENSES $ 6,288.95 TOTAL GAIN AFTER FEES & EXPENSES $ 5,754.05 TOTAL ANNUAL FEES & EXPENSES PAID $443.17
NATIONS TAX-EXEMPT RESERVES -- LIQUIDITY CLASS SHARES
ANNUAL EXPENSE RATIO INITIAL HYPOTHETICAL INVESTMENT AMOUNT ASSUMED RATE OF RETURN 0.35% $10,000.00 5% CUMULATIVE RETURN HYPOTHETICAL YEAR- CUMULATIVE RETURN HYPOTHETICAL YEAR- ANNUAL BEFORE FEES AND END BALANCE BEFORE AFTER FEES AND END BALANCE AFTER FEES AND YEAR EXPENSES FEES AND EXPENSES EXPENSES FEES AND EXPENSES EXPENSES 1 5.00% $10,500.00 4.65% $10,465.00 $ 35.81 2 10.25% $11,025.00 9.52% $10,951.62 $ 37.48 3 15.76% $11,576.25 14.61% $11,460.87 $ 39.22 4 21.55% $12,155.06 19.94% $11,993.80 $ 41.05 5 27.63% $12,762.82 25.52% $12,551.52 $ 42.95 6 34.01% $13,400.96 31.35% $13,135.16 $ 44.95 7 40.71% $14,071.00 37.46% $13,745.95 $ 47.04 8 47.75% $14,774.55 43.85% $14,385.13 $ 49.23 9 55.13% $15,513.28 50.54% $15,054.04 $ 51.52 10 62.89% $16,288.95 57.54% $15,754.05 $ 53.91 TOTAL GAIN BEFORE FEES & EXPENSES $ 6,288.95 TOTAL GAIN AFTER FEES & EXPENSES $ 5,754.05 TOTAL ANNUAL FEES & EXPENSES PAID $443.17
4 NATIONS CALIFORNIA TAX-EXEMPT RESERVES -- LIQUIDITY CLASS SHARES
ANNUAL EXPENSE RATIO INITIAL HYPOTHETICAL INVESTMENT AMOUNT ASSUMED RATE OF RETURN 0.35% $10,000.00 5% CUMULATIVE RETURN HYPOTHETICAL YEAR- CUMULATIVE RETURN HYPOTHETICAL YEAR- ANNUAL BEFORE FEES AND END BALANCE BEFORE AFTER FEES AND END BALANCE AFTER FEES AND YEAR EXPENSES FEES AND EXPENSES EXPENSES FEES AND EXPENSES EXPENSES 1 5.00% $10,500.00 4.65% $10,465.00 $ 35.81 2 10.25% $11,025.00 9.52% $10,951.62 $ 37.48 3 15.76% $11,576.25 14.61% $11,460.87 $ 39.22 4 21.55% $12,155.06 19.94% $11,993.80 $ 41.05 5 27.63% $12,762.82 25.52% $12,551.52 $ 42.95 6 34.01% $13,400.96 31.35% $13,135.16 $ 44.95 7 40.71% $14,071.00 37.46% $13,745.95 $ 47.04 8 47.75% $14,774.55 43.85% $14,385.13 $ 49.23 9 55.13% $15,513.28 50.54% $15,054.04 $ 51.52 10 62.89% $16,288.95 57.54% $15,754.05 $ 53.91 TOTAL GAIN BEFORE FEES & EXPENSES $ 6,288.95 TOTAL GAIN AFTER FEES & EXPENSES $ 5,754.05 TOTAL ANNUAL FEES & EXPENSES PAID $443.17
NATIONS NEW YORK TAX-EXEMPT RESERVES -- LIQUIDITY CLASS SHARES
ANNUAL EXPENSE RATIO INITIAL HYPOTHETICAL INVESTMENT AMOUNT ASSUMED RATE OF RETURN 0.35% $10,000.00 5% CUMULATIVE RETURN HYPOTHETICAL YEAR- CUMULATIVE RETURN HYPOTHETICAL YEAR- ANNUAL BEFORE FEES AND END BALANCE BEFORE AFTER FEES AND END BALANCE AFTER FEES AND YEAR EXPENSES FEES AND EXPENSES EXPENSES FEES AND EXPENSES EXPENSES 1 5.00% $10,500.00 4.65% $10,465.00 $ 35.81 2 10.25% $11,025.00 9.52% $10,951.62 $ 37.48 3 15.76% $11,576.25 14.61% $11,460.87 $ 39.22 4 21.55% $12,155.06 19.94% $11,993.80 $ 41.05 5 27.63% $12,762.82 25.52% $12,551.52 $ 42.95 6 34.01% $13,400.96 31.35% $13,135.16 $ 44.95 7 40.71% $14,071.00 37.46% $13,745.95 $ 47.04 8 47.75% $14,774.55 43.85% $14,385.13 $ 49.23 9 55.13% $15,513.28 50.54% $15,054.04 $ 51.52 10 62.89% $16,288.95 57.54% $15,754.05 $ 53.91 TOTAL GAIN BEFORE FEES & EXPENSES $ 6,288.95 TOTAL GAIN AFTER FEES & EXPENSES $ 5,754.05 TOTAL ANNUAL FEES & EXPENSES PAID $443.17
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