<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>031
<NAME>NATIONS INTERMEDIATE BOND PORTFOLIO
<S> <C>
<MULTIPLIER>1000
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> Mar-31-2000
<PERIOD-END> Mar-31-2000
<INVESTMENTS-AT-COST> 128,696
<INVESTMENTS-AT-VALUE> 123,953
<RECEIVABLES> 1,421
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 125,374
<PAYABLE-FOR-SECURITIES> (5,679)
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> (194)
<TOTAL-LIABILITIES> (5,873)
<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> 119,501
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 8,026
<OTHER-INCOME> 0
<EXPENSES-NET> 655
<NET-INVESTMENT-INCOME> 7,371
<REALIZED-GAINS-CURRENT> (2,483)
<APPREC-INCREASE-CURRENT> (2,726)
<NET-CHANGE-FROM-OPS> 2,162
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8,040
<NUMBER-OF-SHARES-REDEEMED> (46,594)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (36,392)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 479
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 665
<AVERAGE-NET-ASSETS> 120,858
<PER-SHARE-NAV-BEGIN> 0.00
<PER-SHARE-NII> 0.00
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 0.00
<EXPENSE-RATIO> 0.54
</TABLE>
