<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>081
<NAME>NATIONS HIGH YIELD BOND PORTFOLIO
<S> <C>
<MULTIPLIER>1000
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> Mar-31-2000
<PERIOD-END> Mar-31-2000
<INVESTMENTS-AT-COST> 13,939
<INVESTMENTS-AT-VALUE> 13,756
<RECEIVABLES> 349
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 150
<TOTAL-ASSETS> 14,255
<PAYABLE-FOR-SECURITIES> (704)
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> (51)
<TOTAL-LIABILITIES> (755)
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 13,500
<DIVIDEND-INCOME> 1
<INTEREST-INCOME> 121
<OTHER-INCOME> 0
<EXPENSES-NET> 43
<NET-INVESTMENT-INCOME> 79
<REALIZED-GAINS-CURRENT> 38
<APPREC-INCREASE-CURRENT> (180)
<NET-CHANGE-FROM-OPS> (63)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 15,797
<NUMBER-OF-SHARES-REDEEMED> (2,234)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 13,500
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 8
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 44
<AVERAGE-NET-ASSETS> 3,492
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 2.82
</TABLE>
