<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>443
<NAME>NATIONS MANAGED SMALLCAP VALUE INVESTOR A
<S> <C>
<MULTIPLIER>1000
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> Mar-31-2000
<PERIOD-END> Mar-31-2000
<INVESTMENTS-AT-COST> 2,903
<INVESTMENTS-AT-VALUE> 2,981
<RECEIVABLES> 87
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 3,068
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> (102)
<TOTAL-LIABILITIES> (102)
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,149
<SHARES-COMMON-STOCK> 129
<SHARES-COMMON-PRIOR> 212
<ACCUMULATED-NII-CURRENT> 5
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (299)
<ACCUM-APPREC-OR-DEPREC> 78
<NET-ASSETS> 2,933
<DIVIDEND-INCOME> 54
<INTEREST-INCOME> 2
<OTHER-INCOME> 0
<EXPENSES-NET> 30
<NET-INVESTMENT-INCOME> 27
<REALIZED-GAINS-CURRENT> (199)
<APPREC-INCREASE-CURRENT> 758
<NET-CHANGE-FROM-OPS> 586
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (8)
<DISTRIBUTIONS-OF-GAINS> (6)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 31
<NUMBER-OF-SHARES-REDEEMED> 115
<SHARES-REINVESTED> 1
<NET-CHANGE-IN-ASSETS> (2,056)
<ACCUMULATED-NII-PRIOR> 6
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (83)
<GROSS-ADVISORY-FEES> 20
<INTEREST-EXPENSE> 1
<GROSS-EXPENSE> 304
<AVERAGE-NET-ASSETS> 1,858
<PER-SHARE-NAV-BEGIN> 8.99
<PER-SHARE-NII> 0.04
<PER-SHARE-GAIN-APPREC> 1.20
<PER-SHARE-DIVIDEND> (0.04)
<PER-SHARE-DISTRIBUTIONS> (0.03)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.16
<EXPENSE-RATIO> 0.75
</TABLE>
