<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>0103
<NAME>NATIONS HIGH YIELD BOND INVESTOR A
<S> <C>
<MULTIPLIER>1000
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Mar-31-2001
<PERIOD-END> Sep-30-2000
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 25,290
<RECEIVABLES> 9
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 25,299
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> (41)
<TOTAL-LIABILITIES> (41)
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 25,774
<SHARES-COMMON-STOCK> 132
<SHARES-COMMON-PRIOR> 38
<ACCUMULATED-NII-CURRENT> 52
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (98)
<ACCUM-APPREC-OR-DEPREC> (470)
<NET-ASSETS> 25,258
<DIVIDEND-INCOME> 31
<INTEREST-INCOME> 1,057
<OTHER-INCOME> 0
<EXPENSES-NET> 121
<NET-INVESTMENT-INCOME> 967
<REALIZED-GAINS-CURRENT> (134)
<APPREC-INCREASE-CURRENT> (300)
<NET-CHANGE-FROM-OPS> 533
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (43)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 918
<NUMBER-OF-SHARES-REDEEMED> (11)
<SHARES-REINVESTED> 19
<NET-CHANGE-IN-ASSETS> 12,008
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 36
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 243
<AVERAGE-NET-ASSETS> 819
<PER-SHARE-NAV-BEGIN> 9.88
<PER-SHARE-NII> 0.53
<PER-SHARE-GAIN-APPREC> (0.20)
<PER-SHARE-DIVIDEND> (0.50)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 9.71
<EXPENSE-RATIO> 1.18
</TABLE>
