<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>1
<NAME>NATIONS ANNUITY VALUE PORTFOLIO
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Dec-31-2000
<PERIOD-END> Jun-30-2000
<INVESTMENTS-AT-COST> 9,056,304
<INVESTMENTS-AT-VALUE> 9,377,555
<RECEIVABLES> 591,482
<ASSETS-OTHER> 10,986
<OTHER-ITEMS-ASSETS> 871
<TOTAL-ASSETS> 9,980,894
<PAYABLE-FOR-SECURITIES> (67,248)
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> (30,579)
<TOTAL-LIABILITIES> (97,827)
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 9,809,906
<SHARES-COMMON-STOCK> 962,045
<SHARES-COMMON-PRIOR> 1,003,156
<ACCUMULATED-NII-CURRENT> 48,044
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (296,134)
<ACCUM-APPREC-OR-DEPREC> 321,251
<NET-ASSETS> 9,883,067
<DIVIDEND-INCOME> 88,008
<INTEREST-INCOME> 8,907
<OTHER-INCOME> 139
<EXPENSES-NET> 49,010
<NET-INVESTMENT-INCOME> 48,044
<REALIZED-GAINS-CURRENT> 96,428
<APPREC-INCREASE-CURRENT> (542,892)
<NET-CHANGE-FROM-OPS> (398,420)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 129,776
<NUMBER-OF-SHARES-REDEEMED> (170,887)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (761,706)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (392,562)
<GROSS-ADVISORY-FEES> 31,724
<INTEREST-EXPENSE> 202
<GROSS-EXPENSE> 89,847
<AVERAGE-NET-ASSETS> 4,873,093
<PER-SHARE-NAV-BEGIN> 10.61
<PER-SHARE-NII> 0.05
<PER-SHARE-GAIN-APPREC> (0.39)
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.27
<EXPENSE-RATIO> 1.00
</TABLE>
