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<PAGE> PAGE 10
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031 A000900 0
031 B000900 0
032 000900 0
033 000900 0
034 000900 Y
035 000900 92
036 A000900 N
036 B000900 0
037 000900 N
038 000900 0
039 000900 N
040 000900 Y
041 000900 Y
042 A000900 0
042 B000900 0
042 C000900 0
042 D000900 100
042 E000900 0
042 F000900 0
042 G000900 0
042 H000900 0
043 000900 176
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045 000900 Y
046 000900 Y
047 000900 Y
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048 A010900 100000
048 A020900 0.650
048 B010900 150000
048 B020900 0.550
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048 C020900 0.000
048 D010900 0
048 D020900 0.000
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<PAGE> PAGE 21
048 E020900 0.000
048 F010900 0
048 F020900 0.000
048 G010900 0
048 G020900 0.000
048 H010900 0
048 H020900 0.000
048 I010900 0
048 I020900 0.000
048 J010900 0
048 J020900 0.000
048 K010900 250000
048 K020900 0.500
049 000900 N
050 000900 N
051 000900 N
052 000900 N
053 A000900 Y
053 B000900 N
053 C000900 N
062 A000900 Y
062 B000900 0.0
062 C000900 0.0
062 D000900 1.4
062 E000900 0.0
062 F000900 0.0
062 G000900 0.0
062 H000900 0.0
062 I000900 0.0
062 J000900 0.0
062 K000900 0.0
062 L000900 0.0
062 M000900 40.4
062 N000900 3.4
062 O000900 0.0
062 P000900 0.0
062 Q000900 54.3
062 R000900 0.0
063 A000900 0
063 B000900 9.9
064 A000900 Y
064 B000900 N
066 A000900 N
067 000900 N
068 A000900 N
068 B000900 N
069 000900 N
070 A010900 Y
070 A020900 Y
070 B010900 N
070 B020900 N
<PAGE> PAGE 22
070 C010900 Y
070 C020900 N
070 D010900 N
070 D020900 N
070 E010900 Y
070 E020900 N
070 F010900 N
070 F020900 N
070 G010900 Y
070 G020900 N
070 H010900 N
070 H020900 N
070 I010900 N
070 I020900 N
070 J010900 Y
070 J020900 N
070 K010900 Y
070 K020900 N
070 L010900 N
070 L020900 N
070 M010900 N
070 M020900 N
070 N010900 Y
070 N020900 N
070 O010900 Y
070 O020900 N
070 P010900 N
070 P020900 N
070 Q010900 N
070 Q020900 N
070 R010900 N
070 R020900 N
071 A000900 223190
071 B000900 230591
071 C000900 113757
071 D000900 196
072 A000900 6
072 B000900 4092
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072 D000900 0
072 E000900 0
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072 I000900 35
072 J000900 14
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072 L000900 0
072 M000900 2
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<PAGE> PAGE 23
072 P000900 0
072 Q000900 0
072 R000900 8
072 S000900 19
072 T000900 176
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072 Y000900 79
072 Z000900 3452
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072BB000900 2802
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072DD020900 1742
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074 F000900 0
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<PAGE> PAGE 24
074 Y000900 0
075 A000900 116306
075 B000900 0
076 000900 0.00
008 A001101 NATIONSBANC ADVISORS INC.
008 B001101 A
008 C001101 801-9999
008 D011101 CHARLOTTE
008 D021101 NC
008 D031101 28255
008 A001102 GARTMORE GLOBAL PARTNERS
008 B001102 S
008 C001102 801-9999
008 D011102 CHARLOTTE
008 D021102 NC
008 D031102 28255
015 A001101 BANK OF NEW YORK
015 B001101 C
015 C011101 NEW YORK
015 C021101 NY
015 C031101 10015
015 E011101 X
028 A011100 29502
028 A021100 0
028 A031100 0
028 A041100 14260
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028 B041100 8627
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028 G011100 229042
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<PAGE> PAGE 25
029 001100 N
030 A001100 0
030 B001100 0.00
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031 A001100 0
031 B001100 0
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036 A001100 N
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038 001100 0
039 001100 N
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042 C001100 0
042 D001100 100
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042 F001100 0
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045 001100 Y
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<PAGE> PAGE 26
048 K011100 0
048 K021100 0.000
049 001100 N
050 001100 N
051 001100 N
052 001100 N
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053 B001100 Y
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062 B001100 0.0
062 C001100 0.0
062 D001100 0.0
062 E001100 0.0
062 F001100 0.0
062 G001100 0.0
062 H001100 0.0
062 I001100 0.0
062 J001100 0.0
062 K001100 0.0
062 L001100 0.0
062 M001100 0.0
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062 O001100 0.0
062 P001100 0.0
062 Q001100 0.0
062 R001100 0.0
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066 A001100 Y
066 D001100 Y
067 001100 N
068 A001100 N
068 B001100 Y
069 001100 N
070 A011100 Y
070 A021100 N
070 B011100 Y
070 B021100 N
070 C011100 Y
070 C021100 N
070 D011100 Y
070 D021100 N
070 E011100 Y
070 E021100 N
070 F011100 Y
070 F021100 N
070 G011100 Y
070 G021100 N
070 H011100 Y
070 H021100 N
070 I011100 N
<PAGE> PAGE 27
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070 J011100 Y
070 J021100 N
070 K011100 Y
070 K021100 Y
070 L011100 Y
070 L021100 Y
070 M011100 Y
070 M021100 Y
070 N011100 Y
070 N021100 N
070 O011100 Y
070 O021100 N
070 P011100 N
070 P021100 N
070 Q011100 N
070 Q021100 N
070 R011100 N
070 R021100 N
071 A001100 256988
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<PAGE> PAGE 28
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SIGNATURE JOSEPH VISELLI
TITLE ASSISTANT TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<SERIES>
<NUMBER>012
<NAME>NATIONS FUND TREASURY PR-B
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<SERIES>
<NUMBER>013
<NAME>NATIONS FUND TREASURY INV-A
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>014
<NAME>NATIONS FUND TREASURY INV-B
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>015
<NAME>NATIONS FUND TREASURY INV-C
<S> <C>
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 6,878,183
<AVERAGE-NET-ASSETS> 10,598,604
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> (0.02)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.55
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.0000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>016
<NAME>NATIONS FUND TREASURY INV-D
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-1997
<PERIOD-END> SEP-30-1996
<INVESTMENTS-AT-COST> 3,145,456,328
<INVESTMENTS-AT-VALUE> 3,145,456,328
<RECEIVABLES> 12,560,106
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 77,343
<TOTAL-ASSETS> 3,158,093,777
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 751,025,965
<TOTAL-LIABILITIES> 751,025,965
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,485
<SHARES-COMMON-STOCK> 2,485
<SHARES-COMMON-PRIOR> 2,113
<ACCUMULATED-NII-CURRENT> 10,103
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (45,579)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 2,486
<DIVIDEND-INCOME> 504,850
<INTEREST-INCOME> 66,529,515
<OTHER-INCOME> 0
<EXPENSES-NET> 5,924,362
<NET-INVESTMENT-INCOME> 61,110,003
<REALIZED-GAINS-CURRENT> 11,375
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 61,121,378
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3,833)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 480,124
<NUMBER-OF-SHARES-REDEEMED> (480,316)
<SHARES-REINVESTED> 564
<NET-CHANGE-IN-ASSETS> (84,868,038)
<ACCUMULATED-NII-PRIOR> 10,103
<ACCUMULATED-GAINS-PRIOR> (56,954)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,528,920
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 6,878,183
<AVERAGE-NET-ASSETS> 164,071
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> (0.02)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.80
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.0000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>021
<NAME>NATIONS FUND PRIME PR-A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-1997
<PERIOD-END> SEP-30-1996
<INVESTMENTS-AT-COST> 4,207,896,443
<INVESTMENTS-AT-VALUE> 4,207,896,443
<RECEIVABLES> 34,303,839
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 60,281
<TOTAL-ASSETS> 4,242,260,563
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 73,675,278
<TOTAL-LIABILITIES> 73,675,278
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,494,881,654
<SHARES-COMMON-STOCK> 2,494,982,131
<SHARES-COMMON-PRIOR> 2,472,744,594
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (469,985)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 2,494,705,981
<DIVIDEND-INCOME> 1,424,991
<INTEREST-INCOME> 112,226,959
<OTHER-INCOME> 0
<EXPENSES-NET> 8,906,000
<NET-INVESTMENT-INCOME> 104,745,950
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 104,745,950
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (63,300,754)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,254,450,233
<NUMBER-OF-SHARES-REDEEMED> (1,232,215,029)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 66,811,924
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (469,985)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,194,741
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 10,431,800
<AVERAGE-NET-ASSETS> 2,442,421,042
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.03
<PER-SHARE-GAIN-APPREC> (0.00)
<PER-SHARE-DIVIDEND> (0.03)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.30
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.0000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>022
<NAME>NATIONS FUND PRIME PR-B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-1997
<PERIOD-END> SEP-30-1996
<INVESTMENTS-AT-COST> 4,207,896,443
<INVESTMENTS-AT-VALUE> 4,207,896,443
<RECEIVABLES> 34,303,839
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 60,281
<TOTAL-ASSETS> 4,242,260,563
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 73,675,278
<TOTAL-LIABILITIES> 73,675,278
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 194,995,481
<SHARES-COMMON-STOCK> 194,995,481
<SHARES-COMMON-PRIOR> 96,315,951
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (469,985)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 194,974,081
<DIVIDEND-INCOME> 1,424,991
<INTEREST-INCOME> 112,226,959
<OTHER-INCOME> 0
<EXPENSES-NET> 8,906,000
<NET-INVESTMENT-INCOME> 104,745,950
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 104,745,950
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (5,219,220)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 882,334,403
<NUMBER-OF-SHARES-REDEEMED> (783,654,873)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 66,811,924
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (469,985)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,194,741
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 10,431,800
<AVERAGE-NET-ASSETS> 211,479,739
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> (0.02)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.55
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.0000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>023
<NAME>NATIONS FUND PRIME INV-A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-1997
<PERIOD-END> SEP-30-1996
<INVESTMENTS-AT-COST> 4,207,896,443
<INVESTMENTS-AT-VALUE> 4,207,896,443
<RECEIVABLES> 34,303,839
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 60,281
<TOTAL-ASSETS> 4,242,260,563
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 73,675,278
<TOTAL-LIABILITIES> 73,675,278
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,067,244,666
<SHARES-COMMON-STOCK> 1,067,134,079
<SHARES-COMMON-PRIOR> 1,099,612,862
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (469,985)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 1,067,016,964
<DIVIDEND-INCOME> 1,424,991
<INTEREST-INCOME> 112,226,959
<OTHER-INCOME> 0
<EXPENSES-NET> 8,906,000
<NET-INVESTMENT-INCOME> 104,745,950
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 104,745,950
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (26,258,772)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,739,707,730
<NUMBER-OF-SHARES-REDEEMED> (1,797,753,816)
<SHARES-REINVESTED> 25,567,303
<NET-CHANGE-IN-ASSETS> 66,811,924
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (469,985)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,194,741
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 10,431,800
<AVERAGE-NET-ASSETS> 1,086,413,263
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> (0.02)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.65
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.0000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>024
<NAME>NATIONS FUND PRIME INV-B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-1997
<PERIOD-END> SEP-30-1996
<INVESTMENTS-AT-COST> 4,207,896,443
<INVESTMENTS-AT-VALUE> 4,207,896,443
<RECEIVABLES> 34,303,839
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 60,281
<TOTAL-ASSETS> 4,242,260,563
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 73,675,278
<TOTAL-LIABILITIES> 73,675,278
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 329,287,243
<SHARES-COMMON-STOCK> 329,287,243
<SHARES-COMMON-PRIOR> 358,686,426
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (469,985)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 329,251,105
<DIVIDEND-INCOME> 1,424,991
<INTEREST-INCOME> 112,226,959
<OTHER-INCOME> 0
<EXPENSES-NET> 8,906,000
<NET-INVESTMENT-INCOME> 104,745,950
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 104,745,950
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (8,031,192)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 684,572,655
<NUMBER-OF-SHARES-REDEEMED> (720,054,490)
<SHARES-REINVESTED> 6,082,652
<NET-CHANGE-IN-ASSETS> 66,811,924
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (469,985)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,194,741
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 10,431,800
<AVERAGE-NET-ASSETS> 325,513,485
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> (0.02)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.55
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.0000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>025
<NAME>NATIONS FUND PRIME INV-C
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-1997
<PERIOD-END> SEP-30-1996
<INVESTMENTS-AT-COST> 4,207,896,443
<INVESTMENTS-AT-VALUE> 4,207,896,443
<RECEIVABLES> 34,303,839
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 60,281
<TOTAL-ASSETS> 4,242,260,563
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 73,675,278
<TOTAL-LIABILITIES> 73,675,278
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 82,316,249
<SHARES-COMMON-STOCK> 82,316,249
<SHARES-COMMON-PRIOR> 74,830,596
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (469,985)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 82,307,215
<DIVIDEND-INCOME> 1,424,991
<INTEREST-INCOME> 112,226,959
<OTHER-INCOME> 0
<EXPENSES-NET> 8,906,000
<NET-INVESTMENT-INCOME> 104,745,950
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 104,745,950
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,929,682)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 118,975,636
<NUMBER-OF-SHARES-REDEEMED> (113,382,400)
<SHARES-REINVESTED> 1,892,417
<NET-CHANGE-IN-ASSETS> 66,811,924
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (469,985)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,194,741
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 10,431,800
<AVERAGE-NET-ASSETS> 78,190,499
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> (0.00)
<PER-SHARE-DIVIDEND> (0.02)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.55
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.0000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>026
<NAME>NATIONS FUND PRIME INV-D
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-1997
<PERIOD-END> SEP-30-1996
<INVESTMENTS-AT-COST> 4,207,896,443
<INVESTMENTS-AT-VALUE> 4,207,896,443
<RECEIVABLES> 34,303,839
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 60,281
<TOTAL-ASSETS> 4,242,260,563
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 73,675,278
<TOTAL-LIABILITIES> 73,675,278
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 329,977
<SHARES-COMMON-STOCK> 329,977
<SHARES-COMMON-PRIOR> 40,474
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (469,985)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 329,939
<DIVIDEND-INCOME> 1,424,991
<INTEREST-INCOME> 112,226,959
<OTHER-INCOME> 0
<EXPENSES-NET> 8,906,000
<NET-INVESTMENT-INCOME> 104,745,950
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 104,745,950
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (6,330)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,155,287
<NUMBER-OF-SHARES-REDEEMED> (1,871,860)
<SHARES-REINVESTED> 6,076
<NET-CHANGE-IN-ASSETS> 66,811,924
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (469,985)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,194,741
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 10,431,800
<AVERAGE-NET-ASSETS> 269,428
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> (0.00)
<PER-SHARE-DIVIDEND> (0.02)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.80
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.0000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>071
<NAME>Nations Fund Equity Income Pr-A
<S> <C>
<PERIOD-TYPE> 6-Mos
<FISCAL-YEAR-END> March 31, 1997
<PERIOD-END> September 30, 1996
<INVESTMENTS-AT-COST> 345,058,288
<INVESTMENTS-AT-VALUE> 369,146,187
<RECEIVABLES> 8,396,257
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 13,625
<TOTAL-ASSETS> 377,556,069
<PAYABLE-FOR-SECURITIES> 2,730,864
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,344,139
<TOTAL-LIABILITIES> 5,075,003
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 154,616,432
<SHARES-COMMON-STOCK> 15,760,721
<SHARES-COMMON-PRIOR> 21,548,744
<ACCUMULATED-NII-CURRENT> 161,349
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 62,550,674
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 24,087,899
<NET-ASSETS> 216,872,242
<DIVIDEND-INCOME> 5,226,218
<INTEREST-INCOME> 2,974,779
<OTHER-INCOME> 0
<EXPENSES-NET> 2,213,789
<NET-INVESTMENT-INCOME> 5,987,208
<REALIZED-GAINS-CURRENT> 42,128,463
<APPREC-INCREASE-CURRENT> (22,988,523)
<NET-CHANGE-FROM-OPS> 25,127,148
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3,793,621)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,215,458
<NUMBER-OF-SHARES-REDEEMED> (8,143,564)
<SHARES-REINVESTED> 140,083
<NET-CHANGE-IN-ASSETS> (61,904,458)
<ACCUMULATED-NII-PRIOR> 163,990
<ACCUMULATED-GAINS-PRIOR> 20,422,211
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,333,948
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,213,789
<AVERAGE-NET-ASSETS> 241,145,050
<PER-SHARE-NAV-BEGIN> 13.14
<PER-SHARE-NII> 0.22
<PER-SHARE-GAIN-APPREC> 0.63
<PER-SHARE-DIVIDEND> (0.23)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 13.76
<EXPENSE-RATIO> 0.89
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.0000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>071
<NAME>Nations Fund Equity Income Pr-B
<S> <C>
<PERIOD-TYPE> 6-Mos
<FISCAL-YEAR-END> March 31, 1997
<PERIOD-END> September 30, 1996
<INVESTMENTS-AT-COST> 345,058,288
<INVESTMENTS-AT-VALUE> 369,146,187
<RECEIVABLES> 8,396,257
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 13,625
<TOTAL-ASSETS> 377,556,069
<PAYABLE-FOR-SECURITIES> 2,730,864
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,344,139
<TOTAL-LIABILITIES> 5,075,003
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,729,671
<SHARES-COMMON-STOCK> 130,626
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 161,349
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 62,550,674
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 24,087,899
<NET-ASSETS> 1,797,515
<DIVIDEND-INCOME> 5,226,218
<INTEREST-INCOME> 2,974,779
<OTHER-INCOME> 0
<EXPENSES-NET> 2,213,789
<NET-INVESTMENT-INCOME> 5,987,208
<REALIZED-GAINS-CURRENT> 42,128,463
<APPREC-INCREASE-CURRENT> (22,988,523)
<NET-CHANGE-FROM-OPS> 25,127,148
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (9,955)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 137,598
<NUMBER-OF-SHARES-REDEEMED> (7,047)
<SHARES-REINVESTED> 75
<NET-CHANGE-IN-ASSETS> (61,904,458)
<ACCUMULATED-NII-PRIOR> 163,990
<ACCUMULATED-GAINS-PRIOR> 20,422,211
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,333,948
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,213,789
<AVERAGE-NET-ASSETS> 1,258,310
<PER-SHARE-NAV-BEGIN> 13.50
<PER-SHARE-NII> 0.12
<PER-SHARE-GAIN-APPREC> 0.24
<PER-SHARE-DIVIDEND> (0.10)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 13.76
<EXPENSE-RATIO> 1.39
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.0000
<ARTICLE> 6
<SERIES>
[NUMBER]071
<NAME>Nations Fund Equity Income Pr-B
<S> <C>
<PERIOD-TYPE> 6-Mos
<FISCAL-YEAR-END> March 31, 1997
<PERIOD-END> September 30, 1996
[INVESTMENTS-AT-COST] 345,058,288
[INVESTMENTS-AT-VALUE] 369,146,187
[RECEIVABLES] 8,396,257
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 13,625
[TOTAL-ASSETS] 377,556,069
[PAYABLE-FOR-SECURITIES] 2,730,864
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 2,344,139
[TOTAL-LIABILITIES] 5,075,003
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 1,729,671
[SHARES-COMMON-STOCK] 130,626
[SHARES-COMMON-PRIOR] 0
[ACCUMULATED-NII-CURRENT] 161,349
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 62,550,674
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 24,087,899
[NET-ASSETS] 1,797,515
[DIVIDEND-INCOME] 5,226,218
[INTEREST-INCOME] 2,974,779
[OTHER-INCOME] 0
[EXPENSES-NET] 2,213,789
[NET-INVESTMENT-INCOME] 5,987,208
[REALIZED-GAINS-CURRENT] 42,128,463
[APPREC-INCREASE-CURRENT] (22,988,523)
[NET-CHANGE-FROM-OPS] 25,127,148
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] (9,955)
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 137,598
[NUMBER-OF-SHARES-REDEEMED] (7,047)
[SHARES-REINVESTED] 75
[NET-CHANGE-IN-ASSETS] (61,904,458)
[ACCUMULATED-NII-PRIOR] 163,990
[ACCUMULATED-GAINS-PRIOR] 20,422,211
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 1,333,948
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 2,213,789
[AVERAGE-NET-ASSETS] 1,258,310
[PER-SHARE-NAV-BEGIN] 13.50
[PER-SHARE-NII] 0.12
[PER-SHARE-GAIN-APPREC] 0.24
[PER-SHARE-DIVIDEND] (0.10)
[PER-SHARE-DISTRIBUTIONS] 0.00
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 13.76
[EXPENSE-RATIO] 1.39
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.0000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>071
<NAME>Nations Fund Equity Income Inv-A
<S> <C>
<PERIOD-TYPE> 6-Mos
<FISCAL-YEAR-END> March 31, 1997
<PERIOD-END> September 30, 1996
<INVESTMENTS-AT-COST> 345,058,288
<INVESTMENTS-AT-VALUE> 369,146,187
<RECEIVABLES> 8,396,257
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 13,625
<TOTAL-ASSETS> 377,556,069
<PAYABLE-FOR-SECURITIES> 2,730,864
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,344,139
<TOTAL-LIABILITIES> 5,075,003
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 35,389,623
<SHARES-COMMON-STOCK> 3,181,328
<SHARES-COMMON-PRIOR> 3,249,950
<ACCUMULATED-NII-CURRENT> 161,349
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 62,550,674
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 24,087,899
<NET-ASSETS> 43,671,195
<DIVIDEND-INCOME> 5,226,218
<INTEREST-INCOME> 2,974,779
<OTHER-INCOME> 0
<EXPENSES-NET> 2,213,789
<NET-INVESTMENT-INCOME> 5,987,208
<REALIZED-GAINS-CURRENT> 42,128,463
<APPREC-INCREASE-CURRENT> (22,988,523)
<NET-CHANGE-FROM-OPS> 25,127,148
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (695,023)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 233,740
<NUMBER-OF-SHARES-REDEEMED> (349,298)
<SHARES-REINVESTED> 46,936
<NET-CHANGE-IN-ASSETS> (61,904,458)
<ACCUMULATED-NII-PRIOR> 163,990
<ACCUMULATED-GAINS-PRIOR> 20,422,211
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,333,948
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,213,789
<AVERAGE-NET-ASSETS> 42,762,731
<PER-SHARE-NAV-BEGIN> 13.11
<PER-SHARE-NII> 0.20
<PER-SHARE-GAIN-APPREC> 0.64
<PER-SHARE-DIVIDEND> (0.22)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 13.73
<EXPENSE-RATIO> 1.14
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.0000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>371
<NAME>Nations Fund Equity Index Pr-B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-1997
<PERIOD-END> SEP-30-1996
<INVESTMENTS-AT-COST> 391,419,782
<INVESTMENTS-AT-VALUE> 451,329,520
<RECEIVABLES> 3,480,976
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 4,333
<TOTAL-ASSETS> 454,814,829
<PAYABLE-FOR-SECURITIES> 1,091,070
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,042,275
<TOTAL-LIABILITIES> 3,133,345
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,390,171
<SHARES-COMMON-STOCK> 97,645
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 156,139
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (80,279)
<ACCUM-APPREC-OR-DEPREC> 59,922,388
<NET-ASSETS> 1,414,720
<DIVIDEND-INCOME> 3,902,939
<INTEREST-INCOME> 423,667
<OTHER-INCOME> 0
<EXPENSES-NET> 589,242
<NET-INVESTMENT-INCOME> 3,737,364
<REALIZED-GAINS-CURRENT> (40,600)
<APPREC-INCREASE-CURRENT> 19,425,327
<NET-CHANGE-FROM-OPS> 23,122,091
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3,762)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 97,545
<NUMBER-OF-SHARES-REDEEMED> (134)
<SHARES-REINVESTED> 234
<NET-CHANGE-IN-ASSETS> 259,198,844
<ACCUMULATED-NII-PRIOR> 68,696
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (39,679)
<GROSS-ADVISORY-FEES> 839,437
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,180,403
<AVERAGE-NET-ASSETS> 935,014
<PER-SHARE-NAV-BEGIN> 14.13
<PER-SHARE-NII> 0.06
<PER-SHARE-GAIN-APPREC> 0.36
<PER-SHARE-DIVIDEND> (0.06)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 14.49
<EXPENSE-RATIO> 0.85
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.0000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>071
<NAME>Nations Fund Equity Income Inv-A
<S> <C>
<PERIOD-TYPE> 6-Mos
<FISCAL-YEAR-END> March 31, 1997
<PERIOD-END> September 30, 1996
<INVESTMENTS-AT-COST> 345,058,288
<INVESTMENTS-AT-VALUE> 369,146,187
<RECEIVABLES> 8,396,257
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 13,625
<TOTAL-ASSETS> 377,556,069
<PAYABLE-FOR-SECURITIES> 2,730,864
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,344,139
<TOTAL-LIABILITIES> 5,075,003
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 35,389,623
<SHARES-COMMON-STOCK> 3,181,328
<SHARES-COMMON-PRIOR> 3,249,950
<ACCUMULATED-NII-CURRENT> 161,349
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 62,550,674
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 24,087,899
<NET-ASSETS> 43,671,195
<DIVIDEND-INCOME> 5,226,218
<INTEREST-INCOME> 2,974,779
<OTHER-INCOME> 0
<EXPENSES-NET> 2,213,789
<NET-INVESTMENT-INCOME> 5,987,208
<REALIZED-GAINS-CURRENT> 42,128,463
<APPREC-INCREASE-CURRENT> (22,988,523)
<NET-CHANGE-FROM-OPS> 25,127,148
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (695,023)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 233,740
<NUMBER-OF-SHARES-REDEEMED> (349,298)
<SHARES-REINVESTED> 46,936
<NET-CHANGE-IN-ASSETS> (61,904,458)
<ACCUMULATED-NII-PRIOR> 163,990
<ACCUMULATED-GAINS-PRIOR> 20,422,211
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,333,948
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,213,789
<AVERAGE-NET-ASSETS> 42,762,731
<PER-SHARE-NAV-BEGIN> 13.11
<PER-SHARE-NII> 0.20
<PER-SHARE-GAIN-APPREC> 0.64
<PER-SHARE-DIVIDEND> (0.22)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 13.73
<EXPENSE-RATIO> 1.14
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.0000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>091
<NAME>Nations Fund Govt Securities Pr-A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-1996
<PERIOD-END> SEP-30-1996
<INVESTMENTS-AT-COST> 112,678,694
<INVESTMENTS-AT-VALUE> 112,018,878
<RECEIVABLES> 1,158,932
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 5,025
<TOTAL-ASSETS> 113,182,835
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 574,673
<TOTAL-LIABILITIES> 574,673
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 57,651,467
<SHARES-COMMON-STOCK> 5,628,673
<SHARES-COMMON-PRIOR> 5,786,936
<ACCUMULATED-NII-CURRENT> (604,959)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (9,684,462)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (659,816)
<NET-ASSETS> 53,571,264
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4,091,702
<OTHER-INCOME> 0
<EXPENSES-NET> 640,092
<NET-INVESTMENT-INCOME> 3,451,610
<REALIZED-GAINS-CURRENT> (2,801,929)
<APPREC-INCREASE-CURRENT> 845,892
<NET-CHANGE-FROM-OPS> 1,495,573
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,709,982)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,058,615
<NUMBER-OF-SHARES-REDEEMED> (1,236,310)
<SHARES-REINVESTED> 19,432
<NET-CHANGE-IN-ASSETS> (8,531,568)
<ACCUMULATED-NII-PRIOR> (604,959)
<ACCUMULATED-GAINS-PRIOR> (6,882,533)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 370,856
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 719,385
<AVERAGE-NET-ASSETS> 54,787,292
<PER-SHARE-NAV-BEGIN> 9.67
<PER-SHARE-NII> 0.30
<PER-SHARE-GAIN-APPREC> (0.15)
<PER-SHARE-DIVIDEND> (0.30)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 9.52
<EXPENSE-RATIO> 0.80
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.0000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>092
<NAME>Nations Fund Govt Securities Pr-B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-1996
<PERIOD-END> SEP-30-1996
<INVESTMENTS-AT-COST> 112,678,694
<INVESTMENTS-AT-VALUE> 112,018,878
<RECEIVABLES> 1,158,932
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 5,025
<TOTAL-ASSETS> 113,182,835
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 574,673
<TOTAL-LIABILITIES> 574,673
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 522,159
<SHARES-COMMON-STOCK> 54,964
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (604,959)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (9,684,462)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (659,816)
<NET-ASSETS> 523,131
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4,091,702
<OTHER-INCOME> 0
<EXPENSES-NET> 640,092
<NET-INVESTMENT-INCOME> 3,451,610
<REALIZED-GAINS-CURRENT> (2,801,929)
<APPREC-INCREASE-CURRENT> 845,892
<NET-CHANGE-FROM-OPS> 1,495,573
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (6,537)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 58,108
<NUMBER-OF-SHARES-REDEEMED> (3,249)
<SHARES-REINVESTED> 105
<NET-CHANGE-IN-ASSETS> (8,531,568)
<ACCUMULATED-NII-PRIOR> (604,959)
<ACCUMULATED-GAINS-PRIOR> (6,882,533)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 370,856
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 719,385
<AVERAGE-NET-ASSETS> 458,157
<PER-SHARE-NAV-BEGIN> 9.51
<PER-SHARE-NII> 0.14
<PER-SHARE-GAIN-APPREC> 0.01
<PER-SHARE-DIVIDEND> (0.14)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 9.52
<EXPENSE-RATIO> 1.30
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.0000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>093
<NAME>Nations Fund Govt Securities Inv-A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-1996
<PERIOD-END> SEP-30-1996
<INVESTMENTS-AT-COST> 112,678,694
<INVESTMENTS-AT-VALUE> 112,018,878
<RECEIVABLES> 1,158,932
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 5,025
<TOTAL-ASSETS> 113,182,835
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 574,673
<TOTAL-LIABILITIES> 574,673
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 12,074,089
<SHARES-COMMON-STOCK> 1,130,330
<SHARES-COMMON-PRIOR> 1,205,962
<ACCUMULATED-NII-CURRENT> (604,959)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (9,684,462)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (659,816)
<NET-ASSETS> 10,758,012
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4,091,702
<OTHER-INCOME> 0
<EXPENSES-NET> 640,092
<NET-INVESTMENT-INCOME> 3,451,610
<REALIZED-GAINS-CURRENT> (2,801,929)
<APPREC-INCREASE-CURRENT> 845,892
<NET-CHANGE-FROM-OPS> 1,495,573
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (333,533)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 18,724
<NUMBER-OF-SHARES-REDEEMED> (115,767)
<SHARES-REINVESTED> 21,411
<NET-CHANGE-IN-ASSETS> (8,531,568)
<ACCUMULATED-NII-PRIOR> (604,959)
<ACCUMULATED-GAINS-PRIOR> (6,882,533)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 370,856
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 719,385
<AVERAGE-NET-ASSETS> 11,133,464
<PER-SHARE-NAV-BEGIN> 9.67
<PER-SHARE-NII> 0.28
<PER-SHARE-GAIN-APPREC> (0.15)
<PER-SHARE-DIVIDEND> (0.28)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 9.52
<EXPENSE-RATIO> 1.05
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.0000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>094
<NAME>Nations Fund Govt Securities Inv-C
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-1996
<PERIOD-END> SEP-30-1996
<INVESTMENTS-AT-COST> 112,678,694
<INVESTMENTS-AT-VALUE> 112,018,878
<RECEIVABLES> 1,158,932
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 5,025
<TOTAL-ASSETS> 113,182,835
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 574,673
<TOTAL-LIABILITIES> 574,673
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,725,453
<SHARES-COMMON-STOCK> 233,274
<SHARES-COMMON-PRIOR> 264,514
<ACCUMULATED-NII-CURRENT> (604,959)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (9,684,462)
<OVERDISTRIBUTION-GAINS> 0
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
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<NAME>Nations Fund Govt Securities Inv-N
<S> <C>
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>111
<NAME>NATIONS FUND INT'L EQUITY PR-A
<S> <C>
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>112
<NAME>NATIONS FUND INT'L EQUITY PR-B
<S> <C>
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>113
<NAME>NATIONS FUND INT'L EQUITY INV-A
<S> <C>
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 114
<NAME>NATIONS FUND INT'L EQUITY INV-C
<S> <C>
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 115
<NAME>NATIONS FUND INT'L EQUITY INV-N
<S> <C>
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</TABLE>
