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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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054 I000400 Y
054 J000400 Y
054 K000400 Y
054 L000400 Y
054 M000400 Y
054 N000400 Y
054 O000400 Y
055 A000400 N
055 B000400 N
<PAGE> PAGE 21
056 000400 Y
057 000400 N
062 A000400 N
062 B000400 0.0
062 C000400 0.0
062 D000400 0.0
062 E000400 0.0
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 0.0
062 J000400 0.0
062 K000400 0.0
062 L000400 0.0
062 M000400 0.0
062 N000400 0.0
062 O000400 0.0
062 P000400 0.0
062 Q000400 0.0
062 R000400 0.0
066 A000400 Y
066 B000400 N
066 C000400 Y
066 D000400 N
066 E000400 N
066 F000400 N
066 G000400 N
067 000400 N
068 A000400 N
068 B000400 N
069 000400 N
070 A010400 Y
070 A020400 N
070 B010400 N
070 B020400 N
070 C010400 N
070 C020400 N
070 D010400 N
070 D020400 N
070 E010400 N
070 E020400 N
070 F010400 N
070 F020400 N
070 G010400 N
070 G020400 N
070 H010400 N
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 N
070 J020400 N
<PAGE> PAGE 22
070 K010400 Y
070 K020400 Y
070 L010400 N
070 L020400 N
070 M010400 N
070 M020400 N
070 N010400 N
070 N020400 N
070 O010400 N
070 O020400 N
070 P010400 N
070 P020400 N
070 Q010400 N
070 Q020400 N
071 A000400 40234
071 B000400 22039
071 C000400 9326
071 D000400 236
072 A000400 12
072 B000400 66
072 C000400 59
072 D000400 0
072 E000400 1
072 F000400 74
072 G000400 9
072 H000400 0
072 I000400 3
072 J000400 4
072 K000400 0
072 L000400 19
072 M000400 19
072 N000400 0
072 O000400 0
072 P000400 0
072 Q000400 0
072 R000400 13
072 S000400 2
072 T000400 22
072 U000400 3
072 V000400 0
072 W000400 1
072 X000400 169
072 Y000400 73
072 Z000400 29
072AA000400 119
072BB000400 0
072CC010400 3641
072CC020400 0
072DD010400 0
072DD020400 0
072EE000400 0
<PAGE> PAGE 23
073 A010400 0.0000
073 A020400 0.0000
073 B000400 0.0000
073 C000400 0.0000
074 A000400 0
074 B000400 0
074 C000400 3099
074 D000400 0
074 E000400 0
074 F000400 21952
074 G000400 0
074 H000400 0
074 I000400 518
074 J000400 809
074 K000400 0
074 L000400 50
074 M000400 16
074 N000400 26444
074 O000400 1432
074 P000400 23
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 468
074 S000400 0
074 T000400 24521
074 U010400 1887
074 U020400 0
074 V010400 13.00
074 V020400 0.00
074 W000400 0.0000
074 X000400 15236
074 Y000400 0
075 A000400 0
075 B000400 11369
076 000400 0.00
028 A010500 1784
028 A020500 0
028 A030500 0
028 A040500 0
028 B010500 1404
028 B020500 0
028 B030500 0
028 B040500 0
028 C010500 1298
028 C020500 0
028 C030500 0
028 C040500 4
028 D010500 1084
028 D020500 0
<PAGE> PAGE 24
028 D030500 0
028 D040500 44
028 E010500 1191
028 E020500 0
028 E030500 0
028 E040500 57
028 F010500 1175
028 F020500 26
028 F030500 0
028 F040500 0
028 G010500 7936
028 G020500 26
028 G030500 0
028 G040500 105
028 H000500 0
042 A000500 0
042 B000500 0
042 C000500 0
042 D000500 100
042 E000500 0
042 F000500 0
042 G000500 0
042 H000500 0
043 000500 0
044 000500 0
045 000500 Y
046 000500 N
047 000500 Y
048 000500 0.850
048 A010500 0
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048 B010500 0
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048 C010500 0
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048 D010500 0
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048 E010500 0
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048 F010500 0
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048 G010500 0
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048 H010500 0
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048 I010500 0
048 I020500 0.000
048 J010500 0
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048 K010500 0
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<PAGE> PAGE 25
054 A000500 Y
054 B000500 Y
054 C000500 Y
054 D000500 Y
054 E000500 Y
054 F000500 Y
054 G000500 Y
054 H000500 Y
054 I000500 Y
054 J000500 Y
054 K000500 Y
054 L000500 Y
054 M000500 Y
054 N000500 Y
054 O000500 Y
055 A000500 N
055 B000500 N
056 000500 Y
057 000500 N
062 A000500 N
062 B000500 0.0
062 C000500 0.0
062 D000500 0.0
062 E000500 0.0
062 F000500 0.0
062 G000500 0.0
062 H000500 0.0
062 I000500 0.0
062 J000500 0.0
062 K000500 0.0
062 L000500 0.0
062 M000500 0.0
062 N000500 0.0
062 O000500 0.0
062 P000500 0.0
062 Q000500 0.0
062 R000500 0.0
066 A000500 Y
066 B000500 N
066 C000500 N
066 D000500 N
066 E000500 Y
066 F000500 N
066 G000500 N
067 000500 N
068 A000500 N
068 B000500 N
069 000500 N
070 A010500 Y
070 A020500 N
070 B010500 N
<PAGE> PAGE 26
070 B020500 N
070 C010500 N
070 C020500 N
070 D010500 N
070 D020500 N
070 E010500 N
070 E020500 N
070 F010500 N
070 F020500 N
070 G010500 N
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 N
070 J020500 N
070 K010500 Y
070 K020500 Y
070 L010500 N
070 L020500 N
070 M010500 N
070 M020500 N
070 N010500 N
070 N020500 N
070 O010500 N
070 O020500 N
070 P010500 N
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
071 A000500 24719
071 B000500 12413
071 C000500 6741
071 D000500 184
072 A000500 12
072 B000500 46
072 C000500 45
072 D000500 0
072 E000500 1
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072 G000500 6
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072 I000500 2
072 J000500 2
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072 L000500 13
072 M000500 13
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<PAGE> PAGE 27
072 O000500 0
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072 S000500 2
072 T000500 15
072 U000500 3
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072 Z000500 24
072AA000500 0
072BB000500 263
072CC010500 2302
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072DD020500 0
072EE000500 0
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074 N000500 16772
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074 T000500 15576
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<PAGE> PAGE 28
074 X000500 5094
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076 000500 0.00
028 A010600 861
028 A020600 0
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028 D010600 272
028 D020600 0
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028 D040600 1
028 E010600 232
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028 E040600 14
028 F010600 360
028 F020600 62
028 F030600 0
028 F040600 5
028 G010600 2730
028 G020600 62
028 G030600 0
028 G040600 20
028 H000600 0
042 A000600 0
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042 D000600 100
042 E000600 0
042 F000600 0
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042 H000600 0
043 000600 14
044 000600 0
045 000600 Y
046 000600 N
047 000600 Y
048 000600 0.500
048 A010600 0
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<PAGE> PAGE 29
048 B020600 0.000
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048 F010600 0
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048 G010600 0
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048 H010600 0
048 H020600 0.000
048 I010600 0
048 I020600 0.000
048 J010600 0
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048 K010600 0
048 K020600 0.000
054 A000600 Y
054 B000600 Y
054 C000600 Y
054 D000600 Y
054 E000600 Y
054 F000600 Y
054 G000600 Y
054 H000600 Y
054 I000600 Y
054 J000600 Y
054 K000600 Y
054 L000600 Y
054 M000600 Y
054 N000600 Y
054 O000600 Y
055 A000600 N
055 B000600 N
056 000600 Y
057 000600 N
062 A000600 N
062 B000600 0.0
062 C000600 0.0
062 D000600 0.0
062 E000600 0.0
062 F000600 0.0
062 G000600 0.0
062 H000600 0.0
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<PAGE> PAGE 30
062 N000600 0.0
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066 A000600 Y
066 B000600 Y
066 C000600 N
066 D000600 N
066 E000600 N
066 F000600 N
066 G000600 N
067 000600 N
068 A000600 N
068 B000600 N
069 000600 Y
070 A010600 Y
070 A020600 N
070 B010600 N
070 B020600 N
070 C010600 N
070 C020600 N
070 D010600 N
070 D020600 N
070 E010600 N
070 E020600 N
070 F010600 N
070 F020600 N
070 G010600 N
070 G020600 N
070 H010600 N
070 H020600 N
070 I010600 N
070 I020600 N
070 J010600 N
070 J020600 N
070 K010600 Y
070 K020600 Y
070 L010600 N
070 L020600 N
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070 M020600 N
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<PAGE> PAGE 31
070 R020600 N
071 A000600 9761
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<PAGE> PAGE 32
074 J000600 57
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028 A010700 465
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<PAGE> PAGE 33
028 G040700 6
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043 000700 10
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054 A000700 Y
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<PAGE> PAGE 34
054 N000700 Y
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066 A000700 Y
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<PAGE> PAGE 35
070 I010700 N
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071 A000700 8532
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<PAGE> PAGE 36
072BB000700 277
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028 A010800 479
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<PAGE> PAGE 37
028 C010800 420
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<PAGE> PAGE 38
048 I010800 0
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054 A000800 Y
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066 A000800 N
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070 A010800 Y
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<PAGE> PAGE 39
070 B020800 N
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070 E020800 N
070 F010800 N
070 F020800 N
070 G010800 N
070 G020800 N
070 H010800 N
070 H020800 N
070 I010800 N
070 I020800 N
070 J010800 N
070 J020800 N
070 K010800 Y
070 K020800 Y
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070 M020800 N
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070 N020800 N
070 O010800 N
070 O020800 N
070 P010800 N
070 P020800 N
070 Q010800 N
070 Q020800 N
070 R010800 N
070 R020800 N
071 A000800 4884
071 B000800 1570
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<PAGE> PAGE 40
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074 I000800 755
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074 N000800 4157
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074 R040800 323
074 S000800 0
074 T000800 3823
074 U010800 395
074 U020800 0
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<PAGE> PAGE 41
074 X000800 3
074 Y000800 0
075 A000800 0
075 B000800 2052
076 000800 0.00
SIGNATURE JAMES BANKS
TITLE ASSISTANT SECRETARY
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<S>
<SERIES>
<NUMBER> 080
<NAME> Nations Annuity Balanced Assets Portfolio
<C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 3,849,935
<INVESTMENTS-AT-VALUE> 4,108,373
<RECEIVABLES> 32,065
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 16,227
<TOTAL-ASSETS> 4,156,665
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 333,824
<TOTAL-LIABILITIES> 333,824
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,779,311
<SHARES-COMMON-STOCK> 395,088
<SHARES-COMMON-PRIOR> 1,000
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (214,908)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 258,438
<NET-ASSETS> 3,822,841
<DIVIDEND-INCOME> 25,715
<INTEREST-INCOME> 26,985
<OTHER-INCOME> 213
<EXPENSES-NET> 15,726
<NET-INVESTMENT-INCOME> 37,187
<REALIZED-GAINS-CURRENT> (214,908)
<APPREC-INCREASE-CURRENT> 258,438
<NET-CHANGE-FROM-OPS> 80,717
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (37,836)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 400,013
<NUMBER-OF-SHARES-REDEEMED> (9,842)
<SHARES-REINVESTED> 3,917
<NET-CHANGE-IN-ASSETS> 3,812,841
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 11,806
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 42,679
<AVERAGE-NET-ASSETS> 2,051,926
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.09
<PER-SHARE-GAIN-APPREC> (0.31)
<PER-SHARE-DIVIDEND> (0.10)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 9.68
<EXPENSE-RATIO> 1.00
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<S>
<SERIES>
<NUMBER> 030
<NAME> Nations Annuity Disciplined Equity Portfolio
<C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 4,204,421
<INVESTMENTS-AT-VALUE> 4,802,534
<RECEIVABLES> 3,304
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 16,500
<TOTAL-ASSETS> 4,822,338
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 26,013
<TOTAL-LIABILITIES> 26,013
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4,418,499
<SHARES-COMMON-STOCK> 451,540
<SHARES-COMMON-PRIOR> 1,000
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (220,287)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 598,113
<NET-ASSETS> 4,796,325
<DIVIDEND-INCOME> 30,098
<INTEREST-INCOME> 526
<OTHER-INCOME> 11
<EXPENSES-NET> 21,314
<NET-INVESTMENT-INCOME> 9,321
<REALIZED-GAINS-CURRENT> (220,287)
<APPREC-INCREASE-CURRENT> 598,113
<NET-CHANGE-FROM-OPS> 387,147
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (10,798)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 454,328
<NUMBER-OF-SHARES-REDEEMED> (4,815)
<SHARES-REINVESTED> 1,027
<NET-CHANGE-IN-ASSETS> 4,786,325
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 15,986
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 51,335
<AVERAGE-NET-ASSETS> 2,778,465
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 0.62
<PER-SHARE-DIVIDEND> (0.02)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.62
<EXPENSE-RATIO> 1.00
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<S>
<SERIES>
<NUMBER> 040
<NAME> Nations Annuity Focused Equities Portfolio
<C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 21,927,332
<INVESTMENTS-AT-VALUE> 25,568,624
<RECEIVABLES> 858,875
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 16,452
<TOTAL-ASSETS> 26,443,951
<PAYABLE-FOR-SECURITIES> 1,431,583
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 491,761
<TOTAL-LIABILITIES> 1,923,344
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 20,761,772
<SHARES-COMMON-STOCK> 1,886,520
<SHARES-COMMON-PRIOR> 1,000
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 117,543
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,641,292
<NET-ASSETS> 24,520,607
<DIVIDEND-INCOME> 58,579
<INTEREST-INCOME> 65,501
<OTHER-INCOME> 762
<EXPENSES-NET> 95,939
<NET-INVESTMENT-INCOME> 28,903
<REALIZED-GAINS-CURRENT> 118,670
<APPREC-INCREASE-CURRENT> 3,641,292
<NET-CHANGE-FROM-OPS> 3,788,865
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (28,837)
<DISTRIBUTIONS-OF-GAINS> (1,193)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,889,080
<NUMBER-OF-SHARES-REDEEMED> (5,861)
<SHARES-REINVESTED> 2,301
<NET-CHANGE-IN-ASSETS> 24,510,607
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 74,135
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 169,100
<AVERAGE-NET-ASSETS> 11,369,416
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 3.00
<PER-SHARE-DIVIDEND> (0.02)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 13.00
<EXPENSE-RATIO> 1.10
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<S>
<SERIES>
<NUMBER> 050
<NAME> Nations Annuity Growth & Income Portfolio
<C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 14,001,745
<INVESTMENTS-AT-VALUE> 16,303,889
<RECEIVABLES> 450,936
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 16,693
<TOTAL-ASSETS> 16,771,518
<PAYABLE-FOR-SECURITIES> 776,160
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 419,662
<TOTAL-LIABILITIES> 1,195,822
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 13,536,850
<SHARES-COMMON-STOCK> 1,280,727
<SHARES-COMMON-PRIOR> 1,000
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (263,298)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,302,144
<NET-ASSETS> 15,575,696
<DIVIDEND-INCOME> 45,186
<INTEREST-INCOME> 46,015
<OTHER-INCOME> 1,055
<EXPENSES-NET> 67,806
<NET-INVESTMENT-INCOME> 24,450
<REALIZED-GAINS-CURRENT> (263,298)
<APPREC-INCREASE-CURRENT> 2,302,144
<NET-CHANGE-FROM-OPS> 2,063,296
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (25,528)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,290,360
<NUMBER-OF-SHARES-REDEEMED> (12,725)
<SHARES-REINVESTED> 2,092
<NET-CHANGE-IN-ASSETS> 15,565,696
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 52,396
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 122,793
<AVERAGE-NET-ASSETS> 8,361,572
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 2.16
<PER-SHARE-DIVIDEND> (0.02)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 12.16
<EXPENSE-RATIO> 1.10
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<S>
<SERIES>
<NUMBER> 020
<NAME> Nations Annuity International Growth Portfolio
<C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 1,855,518
<INVESTMENTS-AT-VALUE> 2,047,462
<RECEIVABLES> 2,105
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 311,042
<TOTAL-ASSETS> 2,360,609
<PAYABLE-FOR-SECURITIES> 25,246
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 25,726
<TOTAL-LIABILITIES> 50,972
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,206,774
<SHARES-COMMON-STOCK> 224,768
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (52)
<ACCUMULATED-NET-GAINS> (89,253)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 192,168
<NET-ASSETS> 2,309,637
<DIVIDEND-INCOME> 10,767
<INTEREST-INCOME> 17,439
<OTHER-INCOME> 0
<EXPENSES-NET> 15,046
<NET-INVESTMENT-INCOME> 13,160
<REALIZED-GAINS-CURRENT> (95,792)
<APPREC-INCREASE-CURRENT> 192,168
<NET-CHANGE-FROM-OPS> 109,536
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (6,943)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 225,359
<NUMBER-OF-SHARES-REDEEMED> (2,269)
<SHARES-REINVESTED> 678
<NET-CHANGE-IN-ASSETS> 2,299,637
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 10,834
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 49,219
<AVERAGE-NET-ASSETS> 1,569,197
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.06
<PER-SHARE-GAIN-APPREC> 0.25
<PER-SHARE-DIVIDEND> (0.03)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.28
<EXPENSE-RATIO> 1.25
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<S>
<SERIES>
<NUMBER> 060
<NAME> Nations Annuity Managed Index Portfolio
<C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 8,902,623
<INVESTMENTS-AT-VALUE> 9,916,850
<RECEIVABLES> 74,172
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 16,641
<TOTAL-ASSETS> 10,007,663
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 76,579
<TOTAL-LIABILITIES> 76,579
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 9,020,345
<SHARES-COMMON-STOCK> 897,839
<SHARES-COMMON-PRIOR> 2,000
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (103,488)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,014,227
<NET-ASSETS> 9,931,084
<DIVIDEND-INCOME> 78,846
<INTEREST-INCOME> 19,051
<OTHER-INCOME> 0
<EXPENSES-NET> 41,005
<NET-INVESTMENT-INCOME> 56,892
<REALIZED-GAINS-CURRENT> (103,488)
<APPREC-INCREASE-CURRENT> 1,014,227
<NET-CHANGE-FROM-OPS> 967,631
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (61,525)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 892,094
<NUMBER-OF-SHARES-REDEEMED> (1,813)
<SHARES-REINVESTED> 5,558
<NET-CHANGE-IN-ASSETS> 9,911,084
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 27,337
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 88,599
<AVERAGE-NET-ASSETS> 7,127,023
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.06
<PER-SHARE-GAIN-APPREC> 1.07
<PER-SHARE-DIVIDEND> (0.07)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 11.06
<EXPENSE-RATIO> 0.75
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<S>
<SERIES>
<NUMBER> 070
<NAME> Nations Annuity Managed Small Cap Index Portfolio
<C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 6,408,921
<INVESTMENTS-AT-VALUE> 6,159,673
<RECEIVABLES> 8,906
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 16,467
<TOTAL-ASSETS> 6,185,046
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 87,528
<TOTAL-LIABILITIES> 87,528
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 6,624,218
<SHARES-COMMON-STOCK> 675,481
<SHARES-COMMON-PRIOR> 2,000
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (277,452)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (249,248)
<NET-ASSETS> 6,097,518
<DIVIDEND-INCOME> 47,690
<INTEREST-INCOME> 2,489
<OTHER-INCOME> 446
<EXPENSES-NET> 30,704
<NET-INVESTMENT-INCOME> 19,921
<REALIZED-GAINS-CURRENT> (277,452)
<APPREC-INCREASE-CURRENT> (249,248)
<NET-CHANGE-FROM-OPS> (506,779)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (22,876)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 671,552
<NUMBER-OF-SHARES-REDEEMED> (673)
<SHARES-REINVESTED> 2,602
<NET-CHANGE-IN-ASSETS> 6,077,518
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 20,469
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 69,563
<AVERAGE-NET-ASSETS> 5,336,520
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.03
<PER-SHARE-GAIN-APPREC> (0.97)
<PER-SHARE-DIVIDEND> (0.03)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 9.03
<EXPENSE-RATIO> 0.75
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<S>
<SERIES>
<NUMBER> 010
<NAME> Nations Annuity Value Portfolio
<C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 5,158,183
<INVESTMENTS-AT-VALUE> 5,655,826
<RECEIVABLES> 35,794
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 16,880
<TOTAL-ASSETS> 5,708,500
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 63,443
<TOTAL-LIABILITIES> 63,443
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 5,287,669
<SHARES-COMMON-STOCK> 542,341
<SHARES-COMMON-PRIOR> 1,000
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (140,255)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 497,643
<NET-ASSETS> 5,645,057
<DIVIDEND-INCOME> 43,749
<INTEREST-INCOME> 0
<OTHER-INCOME> 125
<EXPENSES-NET> 23,997
<NET-INVESTMENT-INCOME> 19,877
<REALIZED-GAINS-CURRENT> (140,255)
<APPREC-INCREASE-CURRENT> 497,643
<NET-CHANGE-FROM-OPS> 377,265
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (20,520)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 550,414
<NUMBER-OF-SHARES-REDEEMED> (11,054)
<SHARES-REINVESTED> 1,981
<NET-CHANGE-IN-ASSETS> 5,635,057
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 17,997
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 55,561
<AVERAGE-NET-ASSETS> 3,128,129
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.04
<PER-SHARE-GAIN-APPREC> 0.41
<PER-SHARE-DIVIDEND> (0.04)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.41
<EXPENSE-RATIO> 1.00
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
