NATIONS INSTITUTIONAL RESERVES
NSAR-A, EX-27.6, 2000-11-27
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<TABLE> <S> <C>


<ARTICLE>  6
<SERIES>
<NUMBER>0106
<NAME>NATIONS MUNICIPAL RESERVES MARKET

<S>                                <C>
<MULTIPLIER>1000
<PERIOD-TYPE>                      6-MOS
<FISCAL-YEAR-END>                  Mar-31-2001
<PERIOD-END>                       Sep-30-2000
<INVESTMENTS-AT-COST>                       1,442,551
<INVESTMENTS-AT-VALUE>                      1,442,551
<RECEIVABLES>                                  41,694
<ASSETS-OTHER>                                      0
<OTHER-ITEMS-ASSETS>                                0
<TOTAL-ASSETS>                              1,484,245
<PAYABLE-FOR-SECURITIES>                      (31,369)
<SENIOR-LONG-TERM-DEBT>                             0
<OTHER-ITEMS-LIABILITIES>                     (25,435)
<TOTAL-LIABILITIES>                           (56,804)
<SENIOR-EQUITY>                                     0
<PAID-IN-CAPITAL-COMMON>                    1,427,629
<SHARES-COMMON-STOCK>                         165,000
<SHARES-COMMON-PRIOR>                         149,000
<ACCUMULATED-NII-CURRENT>                           0
<OVERDISTRIBUTION-NII>                              0
<ACCUMULATED-NET-GAINS>                             0
<OVERDISTRIBUTION-GAINS>                         (188)
<ACCUM-APPREC-OR-DEPREC>                            0
<NET-ASSETS>                                1,427,441
<DIVIDEND-INCOME>                                   0
<INTEREST-INCOME>                              32,980
<OTHER-INCOME>                                      0
<EXPENSES-NET>                                  3,893
<NET-INVESTMENT-INCOME>                        29,087
<REALIZED-GAINS-CURRENT>                           (1)
<APPREC-INCREASE-CURRENT>                           0
<NET-CHANGE-FROM-OPS>                          29,086
<EQUALIZATION>                                      0
<DISTRIBUTIONS-OF-INCOME>                      (2,818)
<DISTRIBUTIONS-OF-GAINS>                            0
<DISTRIBUTIONS-OTHER>                               0
<NUMBER-OF-SHARES-SOLD>                       429,019
<NUMBER-OF-SHARES-REDEEMED>                  (413,000)
<SHARES-REINVESTED>                                 0
<NET-CHANGE-IN-ASSETS>                              0
<ACCUMULATED-NII-PRIOR>                             0
<ACCUMULATED-GAINS-PRIOR>                           0
<OVERDISTRIB-NII-PRIOR>                             0
<OVERDIST-NET-GAINS-PRIOR>                       (187)
<GROSS-ADVISORY-FEES>                           1,153
<INTEREST-EXPENSE>                                  0
<GROSS-EXPENSE>                                 4,863
<AVERAGE-NET-ASSETS>                          154,449
<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


</TABLE>


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