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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
048 J010400 0
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062 F000400 0.0
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062 H000400 0.0
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062 N000400 54.0
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062 P000400 16.6
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063 B000400 1.8
064 A000400 N
064 B000400 N
066 A000400 N
067 000400 N
068 A000400 N
068 B000400 N
069 000400 N
070 A010400 Y
070 A020400 Y
070 B010400 N
070 B020400 N
070 C010400 N
070 C020400 N
070 D010400 N
070 D020400 N
070 E010400 N
070 E020400 N
070 F010400 N
070 F020400 N
070 G010400 N
<PAGE> PAGE 22
070 G020400 N
070 H010400 N
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
070 K020400 N
070 L010400 Y
070 L020400 N
070 M010400 N
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 Y
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400 48530
071 B000400 22020
071 C000400 99563
071 D000400 22
072 A000400 12
072 B000400 5752
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<PAGE> PAGE 23
072 Y000400 193
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024 000500 Y
025 A000501 MERRILL LYNCH & CO, INC.
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025 A000502 MORGAN STANLEY, DEAN WITTER & CO.
<PAGE> PAGE 24
025 C000502 E
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025 A000503 CITIGROUP, INC.
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<PAGE> PAGE 25
037 000500 N
038 000500 0
039 000500 N
040 000500 Y
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048 I010500 0
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048 J010500 0
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050 000500 N
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<PAGE> PAGE 26
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066 C000500 N
066 D000500 N
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066 G000500 N
067 000500 N
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069 000500 N
070 A010500 Y
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070 D020500 N
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070 E020500 N
070 F010500 Y
070 F020500 N
070 G010500 Y
070 G020500 N
070 H010500 Y
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 Y
070 J020500 N
070 K010500 Y
070 K020500 N
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<PAGE> PAGE 27
070 L020500 Y
070 M010500 N
070 M020500 N
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070 N020500 N
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070 O020500 N
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070 Q010500 N
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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<PAGE> PAGE 31
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 34
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<PAGE> PAGE 35
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<PAGE> PAGE 36
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<PAGE> PAGE 37
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<PAGE> PAGE 38
076 000700 0.00
SIGNATURE STEVE KEANE
TITLE ASST. GEN. COUNSEL
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<CIK> 0000880934
<NAME> Regions Funds
<SERIES>
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<NAME> Regions Aggressive Growth Fund
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000880934
<NAME> Regions Funds
<SERIES>
<NUMBER> 062
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<ACCUMULATED-NET-GAINS> 5,237,223
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 31,301,481
<NET-ASSETS> 167,037,385
<DIVIDEND-INCOME> 914,164
<INTEREST-INCOME> 4,489,307
<OTHER-INCOME> 0
<EXPENSES-NET> (1,984,647)
<NET-INVESTMENT-INCOME> 3,418,824
<REALIZED-GAINS-CURRENT> 5,238,119
<APPREC-INCREASE-CURRENT> 5,433,879
<NET-CHANGE-FROM-OPS> 14,090,822
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,960,226)
<DISTRIBUTIONS-OF-GAINS> (3,589,045)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,867,047
<NUMBER-OF-SHARES-REDEEMED> (1,139,365)
<SHARES-REINVESTED> 410,240
<NET-CHANGE-IN-ASSETS> 60,236,219
<ACCUMULATED-NII-PRIOR> 261,774
<ACCUMULATED-GAINS-PRIOR> 3,927,071
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,248,069
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,057,400
<AVERAGE-NET-ASSETS> 143,310,259
<PER-SHARE-NAV-BEGIN> 15.320
<PER-SHARE-NII> 0.330
<PER-SHARE-GAIN-APPREC> 1.120
<PER-SHARE-DIVIDEND> (0.320)
<PER-SHARE-DISTRIBUTIONS> (0.490)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 15.960
<EXPENSE-RATIO> 1.29
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000880934
<NAME> Regions Funds
<SERIES>
<NUMBER> 061
<NAME> Regions Balanced Fund - Trust Shares
<S> <C>
<PERIOD-TYPE> 12-mos
<FISCAL-YEAR-END> Nov-30-1999
<PERIOD-END> Nov-30-1999
<INVESTMENTS-AT-COST> 150,325,195
<INVESTMENTS-AT-VALUE> 181,626,676
<RECEIVABLES> 1,362,111
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 95,658
<TOTAL-ASSETS> 183,084,445
<PAYABLE-FOR-SECURITIES> 3,275
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 175,757
<TOTAL-LIABILITIES> 179,032
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 145,933,369
<SHARES-COMMON-STOCK> 993,836
<SHARES-COMMON-PRIOR> 679,471
<ACCUMULATED-NII-CURRENT> 433,340
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 5,237,223
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 31,301,481
<NET-ASSETS> 15,868,028
<DIVIDEND-INCOME> 914,164
<INTEREST-INCOME> 4,489,307
<OTHER-INCOME> 0
<EXPENSES-NET> (1,984,647)
<NET-INVESTMENT-INCOME> 3,418,824
<REALIZED-GAINS-CURRENT> 5,238,119
<APPREC-INCREASE-CURRENT> 5,433,879
<NET-CHANGE-FROM-OPS> 14,090,822
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (287,625)
<DISTRIBUTIONS-OF-GAINS> (338,863)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 616,087
<NUMBER-OF-SHARES-REDEEMED> (301,722)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 60,236,219
<ACCUMULATED-NII-PRIOR> 261,774
<ACCUMULATED-GAINS-PRIOR> 3,927,071
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,248,069
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,057,400
<AVERAGE-NET-ASSETS> 12,698,370
<PER-SHARE-NAV-BEGIN> 15.320
<PER-SHARE-NII> 0.380
<PER-SHARE-GAIN-APPREC> 1.120
<PER-SHARE-DIVIDEND> (0.360)
<PER-SHARE-DISTRIBUTIONS> (0.490)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 15.970
<EXPENSE-RATIO> 1.04
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000880934
<NAME> Regions Funds
<SERIES>
<NUMBER> 022
<NAME> Regions Fixed Income Fund - Investment Shares
<S> <C>
<PERIOD-TYPE> 12-mos
<FISCAL-YEAR-END> Nov-30-1999
<PERIOD-END> Nov-30-1999
<INVESTMENTS-AT-COST> 267,776,338
<INVESTMENTS-AT-VALUE> 261,601,494
<RECEIVABLES> 3,873,842
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 265,475,336
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,553,870
<TOTAL-LIABILITIES> 1,553,870
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 273,087,320
<SHARES-COMMON-STOCK> 4,817,150
<SHARES-COMMON-PRIOR> 2,261,184
<ACCUMULATED-NII-CURRENT> 2,914
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (2,993,924)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (6,174,844)
<NET-ASSETS> 48,640,786
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 15,055,032
<OTHER-INCOME> 0
<EXPENSES-NET> (1,952,863)
<NET-INVESTMENT-INCOME> 13,102,169
<REALIZED-GAINS-CURRENT> (680,278)
<APPREC-INCREASE-CURRENT> (12,256,197)
<NET-CHANGE-FROM-OPS> 165,694
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,074,189)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,417,836
<NUMBER-OF-SHARES-REDEEMED> (1,950,716)
<SHARES-REINVESTED> 88,846
<NET-CHANGE-IN-ASSETS> 46,578,299
<ACCUMULATED-NII-PRIOR> 2,757
<ACCUMULATED-GAINS-PRIOR> (2,314,558)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,911,791
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,543,766
<AVERAGE-NET-ASSETS> 41,961,276
<PER-SHARE-NAV-BEGIN> 10.610
<PER-SHARE-NII> 0.510
<PER-SHARE-GAIN-APPREC> (0.510)
<PER-SHARE-DIVIDEND> (0.510)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.100
<EXPENSE-RATIO> 0.98
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000880934
<NAME> Regions Funds
<SERIES>
<NUMBER> 021
<NAME> Regions Fixed Income Fund - Trust Shares
<S> <C>
<PERIOD-TYPE> 12-mos
<FISCAL-YEAR-END> Nov-30-1999
<PERIOD-END> Nov-30-1999
<INVESTMENTS-AT-COST> 267,776,338
<INVESTMENTS-AT-VALUE> 261,601,494
<RECEIVABLES> 3,873,842
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 265,475,336
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,553,870
<TOTAL-LIABILITIES> 1,553,870
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 273,087,320
<SHARES-COMMON-STOCK> 21,320,475
<SHARES-COMMON-PRIOR> 18,223,168
<ACCUMULATED-NII-CURRENT> 2,914
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (2,993,924)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (6,174,844)
<NET-ASSETS> 215,280,680
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 15,055,032
<OTHER-INCOME> 0
<EXPENSES-NET> (1,952,863)
<NET-INVESTMENT-INCOME> 13,102,169
<REALIZED-GAINS-CURRENT> (680,278)
<APPREC-INCREASE-CURRENT> (12,256,197)
<NET-CHANGE-FROM-OPS> 165,694
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (11,026,911)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8,040,148
<NUMBER-OF-SHARES-REDEEMED> (4,942,841)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 46,578,299
<ACCUMULATED-NII-PRIOR> 2,757
<ACCUMULATED-GAINS-PRIOR> (2,314,558)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,911,791
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,543,766
<AVERAGE-NET-ASSETS> 212,944,142
<PER-SHARE-NAV-BEGIN> 10.610
<PER-SHARE-NII> 0.530
<PER-SHARE-GAIN-APPREC> (0.510)
<PER-SHARE-DIVIDEND> (0.530)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.100
<EXPENSE-RATIO> 0.73
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000880934
<NAME> Regions Funds
<SERIES>
<NUMBER> 032
<NAME> Regions Growth Fund - Investment Shares
<S> <C>
<PERIOD-TYPE> 12-mos
<FISCAL-YEAR-END> Nov-30-1999
<PERIOD-END> Nov-30-1999
<INVESTMENTS-AT-COST> 457,922,134
<INVESTMENTS-AT-VALUE> 697,212,806
<RECEIVABLES> 1,331,051
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 53,031
<TOTAL-ASSETS> 698,596,888
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 736,190
<TOTAL-LIABILITIES> 736,190
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 446,125,375
<SHARES-COMMON-STOCK> 13,659,223
<SHARES-COMMON-PRIOR> 7,018,666
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 12,444,651
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 239,290,672
<NET-ASSETS> 320,920,963
<DIVIDEND-INCOME> 4,597,029
<INTEREST-INCOME> 855,316
<OTHER-INCOME> 0
<EXPENSES-NET> (5,785,927)
<NET-INVESTMENT-INCOME> (333,582)
<REALIZED-GAINS-CURRENT> 22,659,850
<APPREC-INCREASE-CURRENT> 103,232,510
<NET-CHANGE-FROM-OPS> 125,558,778
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (14,565,540)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8,204,849
<NUMBER-OF-SHARES-REDEEMED> (2,186,242)
<SHARES-REINVESTED> 621,950
<NET-CHANGE-IN-ASSETS> 310,326,052
<ACCUMULATED-NII-PRIOR> 12,290
<ACCUMULATED-GAINS-PRIOR> 26,646,048
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,391,129
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 6,043,541
<AVERAGE-NET-ASSETS> 239,348,419
<PER-SHARE-NAV-BEGIN> 20.080
<PER-SHARE-NII> (0.030)
<PER-SHARE-GAIN-APPREC> 5.170
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> (1.730)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 23.490
<EXPENSE-RATIO> 1.19
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000880934
<NAME> Regions Funds
<SERIES>
<NUMBER> 031
<NAME> Regions Growth Fund - Trust Shares
<S> <C>
<PERIOD-TYPE> 12-mos
<FISCAL-YEAR-END> Nov-30-1999
<PERIOD-END> Nov-30-1999
<INVESTMENTS-AT-COST> 457,922,134
<INVESTMENTS-AT-VALUE> 697,212,806
<RECEIVABLES> 1,331,051
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 53,031
<TOTAL-ASSETS> 698,596,888
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 736,190
<TOTAL-LIABILITIES> 736,190
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 446,125,375
<SHARES-COMMON-STOCK> 16,008,136
<SHARES-COMMON-PRIOR> 12,280,727
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 12,444,651
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 239,290,672
<NET-ASSETS> 376,939,735
<DIVIDEND-INCOME> 4,597,029
<INTEREST-INCOME> 855,316
<OTHER-INCOME> 0
<EXPENSES-NET> (5,785,927)
<NET-INVESTMENT-INCOME> (333,582)
<REALIZED-GAINS-CURRENT> 22,659,850
<APPREC-INCREASE-CURRENT> 103,232,510
<NET-CHANGE-FROM-OPS> 125,558,778
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (14,958)
<DISTRIBUTIONS-OF-GAINS> (22,293,041)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,123,410
<NUMBER-OF-SHARES-REDEEMED> (2,396,001)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 310,326,052
<ACCUMULATED-NII-PRIOR> 12,290
<ACCUMULATED-GAINS-PRIOR> 26,646,048
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,391,129
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 6,043,541
<AVERAGE-NET-ASSETS> 309,542,680
<PER-SHARE-NAV-BEGIN> 20.080
<PER-SHARE-NII> 0.030
<PER-SHARE-GAIN-APPREC> 5.180
<PER-SHARE-DIVIDEND> (0.010)
<PER-SHARE-DISTRIBUTIONS> (1.730)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 23.550
<EXPENSE-RATIO> 0.94
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000880934
<NAME> Regions Funds
<SERIES>
<NUMBER> 042
<NAME> Regions Limited Maturity Government Fund - Investment Shares
<S> <C>
<PERIOD-TYPE> 12-mos
<FISCAL-YEAR-END> Nov-30-1999
<PERIOD-END> Nov-30-1999
<INVESTMENTS-AT-COST> 113,334,727
<INVESTMENTS-AT-VALUE> 112,275,095
<RECEIVABLES> 1,743,187
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 114,018,282
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 661,448
<TOTAL-LIABILITIES> 661,448
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 114,483,382
<SHARES-COMMON-STOCK> 4,736,112
<SHARES-COMMON-PRIOR> 3,322,637
<ACCUMULATED-NII-CURRENT> 81,705
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (148,621)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1,059,632)
<NET-ASSETS> 46,678,983
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5,751,553
<OTHER-INCOME> 0
<EXPENSES-NET> (963,709)
<NET-INVESTMENT-INCOME> 4,787,844
<REALIZED-GAINS-CURRENT> (148,621)
<APPREC-INCREASE-CURRENT> (2,032,623)
<NET-CHANGE-FROM-OPS> 2,606,600
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,761,333)
<DISTRIBUTIONS-OF-GAINS> (32,311)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,367,359
<NUMBER-OF-SHARES-REDEEMED> (1,101,106)
<SHARES-REINVESTED> 147,222
<NET-CHANGE-IN-ASSETS> 24,272,972
<ACCUMULATED-NII-PRIOR> 40,930
<ACCUMULATED-GAINS-PRIOR> 85,034
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 729,204
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,156,873
<AVERAGE-NET-ASSETS> 40,938,356
<PER-SHARE-NAV-BEGIN> 10.070
<PER-SHARE-NII> 0.450
<PER-SHARE-GAIN-APPREC> (0.210)
<PER-SHARE-DIVIDEND> (0.440)
<PER-SHARE-DISTRIBUTIONS> (0.010)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 9.860
<EXPENSE-RATIO> 1.07
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000880934
<NAME> Regions Funds
<SERIES>
<NUMBER> 041
<NAME> Regions Limited Maturity Government Fund - Trust Shares
<S> <C>
<PERIOD-TYPE> 12-mos
<FISCAL-YEAR-END> Nov-30-1999
<PERIOD-END> Nov-30-1999
<INVESTMENTS-AT-COST> 113,334,727
<INVESTMENTS-AT-VALUE> 112,275,095
<RECEIVABLES> 1,743,187
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 114,018,282
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 661,448
<TOTAL-LIABILITIES> 661,448
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 114,483,382
<SHARES-COMMON-STOCK> 6,765,521
<SHARES-COMMON-PRIOR> 5,524,442
<ACCUMULATED-NII-CURRENT> 81,705
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (148,621)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1,059,632)
<NET-ASSETS> 66,677,851
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5,751,553
<OTHER-INCOME> 0
<EXPENSES-NET> (963,709)
<NET-INVESTMENT-INCOME> 4,787,844
<REALIZED-GAINS-CURRENT> (148,621)
<APPREC-INCREASE-CURRENT> (2,032,623)
<NET-CHANGE-FROM-OPS> 2,606,600
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,985,736)
<DISTRIBUTIONS-OF-GAINS> (52,723)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,895,955
<NUMBER-OF-SHARES-REDEEMED> (1,654,876)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 24,272,972
<ACCUMULATED-NII-PRIOR> 40,930
<ACCUMULATED-GAINS-PRIOR> 85,034
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 729,204
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,156,873
<AVERAGE-NET-ASSETS> 63,233,645
<PER-SHARE-NAV-BEGIN> 10.070
<PER-SHARE-NII> 0.460
<PER-SHARE-GAIN-APPREC> (0.200)
<PER-SHARE-DIVIDEND> (0.460)
<PER-SHARE-DISTRIBUTIONS> (0.010)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 9.860
<EXPENSE-RATIO> 0.82
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000880934
<NAME> Regions Funds
<SERIES>
<NUMBER> 012
<NAME> Regions Treasury Money Market Fund - Investment Shares
<S> <C>
<PERIOD-TYPE> 12-mos
<FISCAL-YEAR-END> Nov-30-1999
<PERIOD-END> Nov-30-1999
<INVESTMENTS-AT-COST> 612,466,628
<INVESTMENTS-AT-VALUE> 612,466,628
<RECEIVABLES> 4,640,582
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 617,107,210
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,859,189
<TOTAL-LIABILITIES> 3,859,189
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 613,248,021
<SHARES-COMMON-STOCK> 119,898,298
<SHARES-COMMON-PRIOR> 89,673,124
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 119,898,298
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 27,523,194
<OTHER-INCOME> 0
<EXPENSES-NET> (2,935,958)
<NET-INVESTMENT-INCOME> 24,587,236
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 24,587,236
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4,312,973)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 383,914,749
<NUMBER-OF-SHARES-REDEEMED> (357,134,611)
<SHARES-REINVESTED> 3,445,036
<NET-CHANGE-IN-ASSETS> (1,016,955)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3,017,941
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,599,484
<AVERAGE-NET-ASSETS> 110,978,670
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.040
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> (0.040)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 0.70
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000880934
<NAME> Regions Funds
<SERIES>
<NUMBER> 011
<NAME> Regions Treasury Money Market Fund - Trust Shares
<S> <C>
<PERIOD-TYPE> 12-mos
<FISCAL-YEAR-END> Nov-30-1999
<PERIOD-END> Nov-30-1999
<INVESTMENTS-AT-COST> 612,466,628
<INVESTMENTS-AT-VALUE> 612,466,628
<RECEIVABLES> 4,640,582
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 617,107,210
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,859,189
<TOTAL-LIABILITIES> 3,859,189
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 613,248,021
<SHARES-COMMON-STOCK> 493,349,723
<SHARES-COMMON-PRIOR> 524,591,852
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 493,349,723
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 27,523,194
<OTHER-INCOME> 0
<EXPENSES-NET> (2,935,958)
<NET-INVESTMENT-INCOME> 24,587,236
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 24,587,236
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (20,274,263)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 813,472,860
<NUMBER-OF-SHARES-REDEEMED> (846,684,535)
<SHARES-REINVESTED> 1,969,546
<NET-CHANGE-IN-ASSETS> (1,016,955)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3,017,941
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,599,484
<AVERAGE-NET-ASSETS> 492,609,472
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.040
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> (0.040)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 0.44
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000880934
<NAME> Regions Funds
<SERIES>
<NUMBER> 052
<NAME> Regions Value Fund - Investment Shares
<S> <C>
<PERIOD-TYPE> 12-mos
<FISCAL-YEAR-END> Nov-30-1999
<PERIOD-END> Nov-30-1999
<INVESTMENTS-AT-COST> 266,289,444
<INVESTMENTS-AT-VALUE> 282,185,523
<RECEIVABLES> 935,487
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 283,121,010
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 598,353
<TOTAL-LIABILITIES> 598,353
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 257,384,810
<SHARES-COMMON-STOCK> 4,858,460
<SHARES-COMMON-PRIOR> 2,768,194
<ACCUMULATED-NII-CURRENT> 343,668
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 8,898,100
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 15,896,079
<NET-ASSETS> 77,324,977
<DIVIDEND-INCOME> 4,609,808
<INTEREST-INCOME> 427,556
<OTHER-INCOME> 0
<EXPENSES-NET> (2,620,632)
<NET-INVESTMENT-INCOME> 2,416,732
<REALIZED-GAINS-CURRENT> 23,397,798
<APPREC-INCREASE-CURRENT> (15,524,648)
<NET-CHANGE-FROM-OPS> 10,289,882
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (477,590)
<DISTRIBUTIONS-OF-GAINS> (7,334,030)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,885,275
<NUMBER-OF-SHARES-REDEEMED> (1,164,029)
<SHARES-REINVESTED> 369,020
<NET-CHANGE-IN-ASSETS> 76,718,206
<ACCUMULATED-NII-PRIOR> 257,429
<ACCUMULATED-GAINS-PRIOR> 14,578,228
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,028,188
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,738,701
<AVERAGE-NET-ASSETS> 65,546,113
<PER-SHARE-NAV-BEGIN> 17.270
<PER-SHARE-NII> 0.090
<PER-SHARE-GAIN-APPREC> 0.780
<PER-SHARE-DIVIDEND> (0.130)
<PER-SHARE-DISTRIBUTIONS> (2.090)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 15.920
<EXPENSE-RATIO> 1.22
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000880934
<NAME> Regions Funds
<SERIES>
<NUMBER> 051
<NAME> Regions Value Fund - Trust Shares
<S> <C>
<PERIOD-TYPE> 12-mos
<FISCAL-YEAR-END> Nov-30-1999
<PERIOD-END> Nov-30-1999
<INVESTMENTS-AT-COST> 266,289,444
<INVESTMENTS-AT-VALUE> 282,185,523
<RECEIVABLES> 935,487
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 283,121,010
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 598,353
<TOTAL-LIABILITIES> 598,353
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 257,384,810
<SHARES-COMMON-STOCK> 12,883,586
<SHARES-COMMON-PRIOR> 9,145,338
<ACCUMULATED-NII-CURRENT> 343,668
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 8,898,100
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 15,896,079
<NET-ASSETS> 205,197,680
<DIVIDEND-INCOME> 4,609,808
<INTEREST-INCOME> 427,556
<OTHER-INCOME> 0
<EXPENSES-NET> (2,620,632)
<NET-INVESTMENT-INCOME> 2,416,732
<REALIZED-GAINS-CURRENT> 23,397,798
<APPREC-INCREASE-CURRENT> (15,524,648)
<NET-CHANGE-FROM-OPS> 10,289,882
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,853,308)
<DISTRIBUTIONS-OF-GAINS> (21,743,491)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,389,980
<NUMBER-OF-SHARES-REDEEMED> (1,651,732)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 76,718,206
<ACCUMULATED-NII-PRIOR> 257,429
<ACCUMULATED-GAINS-PRIOR> 14,578,228
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,028,188
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,738,701
<AVERAGE-NET-ASSETS> 187,977,419
<PER-SHARE-NAV-BEGIN> 17.280
<PER-SHARE-NII> 0.180
<PER-SHARE-GAIN-APPREC> 0.730
<PER-SHARE-DIVIDEND> (0.170)
<PER-SHARE-DISTRIBUTIONS> (2.090)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 15.930
<EXPENSE-RATIO> 0.97
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
INDEPENDENT AUDITORS' REPORT
To the Board of Trustees and Shareholders of
REGIONS FUNDS:
We have audited the accompanying statements of assets and liabilities of
Regions Funds (the "Funds") (comprised of the following portfolios:
Regions Treasury Money Market Fund, Regions Limited Maturity Government
Fund, Regions Fixed Income Fund, Regions Balanced Fund, Regions Value
Fund, Regions Growth Fund, and Regions Aggressive Growth Fund),
including the portfolios of investments, as of November 30, 1999, and
the related statements of operations for the year and period then ended,
the statements of changes in net assets for the years and period ended
November 30, 1999 and 1998, and the financial highlights for each of the
years and period presented. These financial statements and financial
highlights are the responsibility of the Fund's management. Our
responsibility is to express an opinion on these financial statements
and financial highlights based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit
to obtain reasonable assurance about whether the financial statements
and financial highlights are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. Our procedures included
confirmation of securities owned as of November 30, 1999, by
correspondence with the custodian and brokers; where replies were not
received from brokers, we performed other auditing procedures. An audit
also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.
In our opinion, the financial statements and financial highlights
referred to above present fairly, in all material respects, the
financial position of Regions Funds as of November 30, 1999, the results
of their operations, the changes in their net assets, and their
financial highlights for the respective stated periods, in conformity
with generally accepted accounting principles.
January 18, 2000
Item 77 C-1 -- Submission of Matters to a Vote of Security Holders
A Special Meeting of Shareholders of Regions Aggressive Growth Fund (the
"Fund"), a portfolio of Regions Funds (the "Trust"), was held on
June 15, 1999. The following items, which are required to be reported
under this Item 77C, were approved as follows:
AGENDA ITEM 1: To elect Trustees.*
SHARES VOTED SHARES WITHHELD
FOR AUTHORITY
________________________________________________________________________
Thomas G. Bigley 4,877,818 0
Nicholas P. Constantakis 4,877,818 0
John F. Cunningham 4,877,818 0
J. Christopher Donahue 4,877,818 0
Charles F. Mansfield, Jr. 4,877,818 0
John E. Murray, Jr. 4,877,818 0
John S. Walsh 4,877,818 0
AGENDA ITEM 2: To ratify the selection of Deloitte & Touche LLP as the
Trust's independent auditors.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
4,877,818 0 0 -
AGENDA ITEM 3: To make changes to the Fund's fundamental investment
policies:
(a) To amend the Fund's fundamental investment policy regarding
diversification.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
4,877,630 187 0 1
*The following Trustees of the Fund continued their terms as Trustees of
the Fund:
John F. Donahue, John T. Conroy, William J. Copeland, James E. Dowd,
Lawrence D. Ellis, M.D., Edward L. Flaherty, Jr., Edward C. Gonzales,
Peter E. Madden, Wesley W. Posvar, Marjorie P. Smuts
(b) To amend the Fund's fundamental investment policy regarding
borrowing money and issuing senior securities.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
4,877,630 187 0 1
(c) To amend the Fund's fundamental investment policy regarding
investments in real estate.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
4,877,630 187 0 1
(d) To amend the Fund's fundamental investment policy regarding
investments in commodities.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
4,877,630 187 0 1
(e) To amend the Fund's fundamental investment policy regarding
underwriting securities.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
4,877,630 187 0 1
(f) To amend the Fund's fundamental investment policy regarding lending
by the Fund.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
4,877,630 187 0 1
(g) To amend the Fund's fundamental investment policy regarding
concentration of the Fund's investments in the securities of
companies in the same industry.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
4,877,630 187 0 1
(h) To amend, and to make non-fundamental, the Fund's fundamental
investment policy regarding buying securities on margin.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
4,877,630 187 0 1
(i) To amend, and to make non-fundamental, the Fund's fundamental
investment policy regarding pledging assets.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
4,877,630 187 0 1
AGENDA ITEM 4: To eliminate the Fund's fundamental investment policy on
selling securities short.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
4,877,630 187 0 1
AGENDA ITEM 5: To approve an amendment and restatement to the Trust's
Declaration of Trust to permit the Board of Trustees to liquidate assets
of the Trust without seeking shareholder approval.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
4,877,630 187 0 1
The Definitive Proxy Statement for the Special Meeting held on June 15,
1999, was filed with the Securities and Exchange Commission on May 7,
1999, and is incorporated by reference. (File No. 811-6511)
Item 77 C-2 -- Submission of Matters to a Vote of Security Holders
A Special Meeting of Shareholders of Regions Balanced Fund (the
"Fund"), a portfolio of Regions Funds (the "Trust"), was held on
June 15, 1999. The following items, which are required to be reported
under this Item 77C, were approved as follows:
AGENDA ITEM 1: To elect Trustees.*
SHARES VOTED SHARES WITHHELD
FOR AUTHORITY
________________________________________________________________________
Thomas G. Bigley 8,083,789 8,467
Nicholas P. Constantakis 8,084,999 7,257
John F. Cunningham 8,083,213 9,043
J. Christopher Donahue 8,085,087 7,169
Charles F. Mansfield, Jr. 8,085,087 7,169
John E. Murray, Jr. 8,085,087 7,169
John S. Walsh 8,085,087 7,169
AGENDA ITEM 2: To ratify the selection of Deloitte & Touche LLP as the
Trust's independent auditors.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
8,071,556 161 20,538 -
AGENDA ITEM 3: To make changes to the Fund's fundamental investment
policies:
(a) To amend the Fund's fundamental investment policy regarding
diversification.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
8,058,107 10,057 24,091 1
*The following Trustees of the Fund continued their terms as Trustees of
the Fund:
John F. Donahue, John T. Conroy, William J. Copeland, James E. Dowd,
Lawrence D. Ellis, M.D., Edward L. Flaherty, Jr., Edward C. Gonzales,
Peter E. Madden, Wesley W. Posvar, Marjorie P. Smuts
(b) To amend the Fund's fundamental investment policy regarding
borrowing money and issuing senior securities.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
8,051,367 18,144 22,744 1
(c) To amend the Fund's fundamental investment policy regarding
investments in real estate.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
8,049,916 14,980 27,359 1
(d) To amend the Fund's fundamental investment policy regarding
investments in commodities.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
8,054,684 12,166 25,405 1
(e) To amend the Fund's fundamental investment policy regarding
underwriting securities.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
8,051,804 16,196 24,255 1
(f) To amend the Fund's fundamental investment policy regarding lending
by the Fund.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
8,047,948 16,543 27,764 1
(g) To amend the Fund's fundamental investment policy regarding
concentration of the Fund's investments in the securities of
companies in the same industry.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
8,055,649 6,674 29,932 1
(h) To amend, and to make non-fundamental, the Fund's fundamental
investment policy regarding buying securities on margin.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
8,041,721 17,418 33,116 1
(i) To amend, and to make non-fundamental, the Fund's fundamental
investment policy regarding pledging assets.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
8,048,287 13,275 30,693 1
AGENDA ITEM 4: To eliminate the Fund's fundamental investment policy on
selling securities short.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
8,043,263 23,012 25,980 1
AGENDA ITEM 5: To approve an amendment and restatement to the Trust's
Declaration of Trust to permit the Board of Trustees to liquidate assets
of the Trust without seeking shareholder approval.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
8,019,877 49,884 22,494 1
The Definitive Proxy Statement for the Special Meeting held on June 15,
1999, was filed with the Securities and Exchange Commission on May 7,
1999, and is incorporated by reference. (File No. 811-6511)
Item 77 C-3 -- Submission of Matters to a Vote of Security Holders
A Special Meeting of Shareholders of Regions Fixed Income Fund (the
"Fund"), a portfolio of Regions Funds (the "Trust"), was held on
June 15, 1999. The following items, which are required to be reported
under this Item 77C, were approved as follows:
AGENDA ITEM 1: To elect Trustees.*
SHARES VOTED SHARES WITHHELD
FOR AUTHORITY
________________________________________________________________________
Thomas G. Bigley 25,014,467 2,858
Nicholas P. Constantakis 25,014,467 2,858
John F. Cunningham 25,014,467 2,858
J. Christopher Donahue 25,016,196 1,129
Charles F. Mansfield, Jr. 25,016,196 1,129
John E. Murray, Jr. 25,016,196 1,129
John S. Walsh 25,016,196 1,129
AGENDA ITEM 2: To ratify the selection of Deloitte & Touche LLP as the
Trust's independent auditors.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
25,003,901 0 13,423 -
AGENDA ITEM 3: To make changes to the Fund's fundamental investment
policies:
(a) To amend the Fund's fundamental investment policy regarding
diversification.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
25,003,901 0 13,423 1
*The following Trustees of the Fund continued their terms as Trustees of
the Fund:
John F. Donahue, John T. Conroy, William J. Copeland, James E. Dowd,
Lawrence D. Ellis, M.D., Edward L. Flaherty, Jr., Edward C. Gonzales,
Peter E. Madden, Wesley W. Posvar, Marjorie P. Smuts
(b) To amend the Fund's fundamental investment policy regarding
borrowing money and issuing senior securities.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
25,005,315 3,218 8,792 0
(c) To amend the Fund's fundamental investment policy regarding
investments in real estate.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
25,016,309 0 4,016 0
(d) To amend the Fund's fundamental investment policy regarding
investments in commodities.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
25,001,452 2,449 13,423 1
(e) To amend the Fund's fundamental investment policy regarding
underwriting securities.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
25,002,413 1,488 13,423 1
(f) To amend the Fund's fundamental investment policy regarding lending
by the Fund.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
25,002,544 1,488 13,293 0
(g) To amend the Fund's fundamental investment policy regarding
concentration of the Fund's investments in the securities of
companies in the same industry.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
25,013,309 0 4,016 0
(h) To amend, and to make non-fundamental, the Fund's fundamental
investment policy regarding buying securities on margin.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
25,007,058 6,250 4,016 1
(i) To amend, and to make non-fundamental, the Fund's fundamental
investment policy regarding pledging assets.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
25,002,283 6,250 8,792 0
AGENDA ITEM 4: To eliminate the Fund's fundamental investment policy on
selling securities short.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
25,007,058 6,250 4,016 1
AGENDA ITEM 5: To approve an amendment and restatement to the Trust's
Declaration of Trust to permit the Board of Trustees to liquidate assets
of the Trust without seeking shareholder approval.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
25,001,065 11,593 4,667 0
The Definitive Proxy Statement for the Special Meeting held on June 15,
1999, was filed with the Securities and Exchange Commission on May 7,
1999, and is incorporated by reference. (File No. 811-6511)
Item 77 C-4 -- Submission of Matters to a Vote of Security Holders
A Special Meeting of Shareholders of Regions Growth Fund (the "Fund"),
a portfolio of Regions Funds (the "Trust"), was held on June 15, 1999.
The following items, which are required to be reported under this Item
77C, were approved as follows:
AGENDA ITEM 1: To elect Trustees.*
SHARES VOTED SHARES WITHHELD
FOR AUTHORITY
________________________________________________________________________
Thomas G. Bigley 23,258,486 7,734
Nicholas P. Constantakis 23,258,561 7,659
John F. Cunningham 23,258,561 7,659
J. Christopher Donahue 23,258,600 7,620
Charles F. Mansfield, Jr. 23,258,741 7,479
John E. Murray, Jr. 23,258,741 7,479
John S. Walsh 23,258,766 7,454
AGENDA ITEM 2: To ratify the selection of Deloitte & Touche LLP as the
Trust's independent auditors.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
23,236,114 6,488 23,616 -
AGENDA ITEM 3: To make changes to the Fund's fundamental investment
policies:
(a) To amend the Fund's fundamental investment policy regarding
diversification.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
23,225,792 11,476 27,354 1,598
*The following Trustees of the Fund continued their terms as Trustees of
the Fund:
John F. Donahue, John T. Conroy, William J. Copeland, James E. Dowd,
Lawrence D. Ellis, M.D., Edward L. Flaherty, Jr., Edward C. Gonzales,
Peter E. Madden, Wesley W. Posvar, Marjorie P. Smuts
(b) To amend the Fund's fundamental investment policy regarding
borrowing money and issuing senior securities.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
23,208,555 22,054 34,013 1,598
(c) To amend the Fund's fundamental investment policy regarding
investments in real estate.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
23,217,283 22,296 25,043 1,598
(d) To amend the Fund's fundamental investment policy regarding
investments in commodities.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
23,208,420 24,386 31,817 1,597
(e) To amend the Fund's fundamental investment policy regarding
underwriting securities.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
23,218,743 18,990 26,889 1,598
(f) To amend the Fund's fundamental investment policy regarding lending
by the Fund.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
23,215,593 20,671 28,358 1,598
(g) To amend the Fund's fundamental investment policy regarding
concentration of the Fund's investments in the securities of
companies in the same industry.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
23,211,255 16,796 36,571 1,598
(h) To amend, and to make non-fundamental, the Fund's fundamental
investment policy regarding buying securities on margin.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
23,204,014 31,176 29,433 1,597
(i) To amend, and to make non-fundamental, the Fund's fundamental
investment policy regarding pledging assets.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
23,211,387 25,164 28,072 1,597
AGENDA ITEM 4: To eliminate the Fund's fundamental investment policy on
selling securities short.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
23,211,063 18,763 34,797 1,597
AGENDA ITEM 5: To approve an amendment and restatement to the Trust's
Declaration of Trust to permit the Board of Trustees to liquidate assets
of the Trust without seeking shareholder approval.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
23,186,569 44,975 33,078 1,598
The Definitive Proxy Statement for the Special Meeting held on June 15,
1999, was filed with the Securities and Exchange Commission on May 7,
1999, and is incorporated by reference. (File No. 811-6511)
Item 77 C-5 -- Submission of Matters to a Vote of Security Holders
A Special Meeting of Shareholders of Regions Limited Maturity Government
Fund (the "Fund"), a portfolio of Regions Funds (the "Trust"), was
held on June 15, 1999. The following items, which are required to be
reported under this Item 77C, were approved as follows:
AGENDA ITEM 1: To elect Trustees.*
SHARES VOTED SHARES WITHHELD
FOR AUTHORITY
________________________________________________________________________
Thomas G. Bigley 9,863,419 6,475
Nicholas P. Constantakis 9,863,419 6,475
John F. Cunningham 9,863,419 6,475
J. Christopher Donahue 9,863,419 6,475
Charles F. Mansfield, Jr. 9,863,419 6,475
John E. Murray, Jr. 9,863,419 6,475
John S. Walsh 9,863,419 6,475
AGENDA ITEM 2: To ratify the selection of Deloitte & Touche LLP as the
Trust's independent auditors.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
9,854,727 6,475 8,692 -
AGENDA ITEM 3: To make changes to the Fund's fundamental investment
policies:
(a) To amend the Fund's fundamental investment policy regarding
diversification.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
9,854,647 6,475 8,772 0
*The following Trustees of the Fund continued their terms as Trustees of
the Fund:
John F. Donahue, John T. Conroy, William J. Copeland, James E. Dowd,
Lawrence D. Ellis, M.D., Edward L. Flaherty, Jr., Edward C. Gonzales,
Peter E. Madden, Wesley W. Posvar, Marjorie P. Smuts
(b) To amend the Fund's fundamental investment policy regarding
borrowing money and issuing senior securities.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
9,857,901 6,475 5,518 0
(c) To amend the Fund's fundamental investment policy regarding
investments in real estate.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
9,864,376 0 5,518 0
(d) To amend the Fund's fundamental investment policy regarding
investments in commodities.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
9,857,901 6,475 5,518 0
(e) To amend the Fund's fundamental investment policy regarding
underwriting securities.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
9,856,570 0 13,324 0
(f) To amend the Fund's fundamental investment policy regarding lending
by the Fund.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
9,857,901 6,475 5,518 0
(g) To amend the Fund's fundamental investment policy regarding
concentration of the Fund's investments in the securities of
companies in the same industry.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
9,857,901 6,475 5,518 0
(h) To amend, and to make non-fundamental, the Fund's fundamental
investment policy regarding buying securities on margin.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
9,857,901 6,475 5,518 0
(i) To amend, and to make non-fundamental, the Fund's fundamental
investment policy regarding pledging assets.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
_______________________________________________________________________
9,864,376 0 5,518 0
AGENDA ITEM 4: To eliminate the Fund's fundamental investment policy on
selling securities short.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
9,857,901 6,475 5,518 0
AGENDA ITEM 5: To approve an amendment and restatement to the Trust's
Declaration of Trust to permit the Board of Trustees to liquidate assets
of the Trust without seeking shareholder approval.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
9,857,901 6,475 5,518 0
The Definitive Proxy Statement for the Special Meeting held on June 15,
1999, was filed with the Securities and Exchange Commission on May 7,
1999, and is incorporated by reference. (File No. 811-6511)
Item 77 C-6 -- Submission of Matters to a Vote of Security Holders
A Special Meeting of Shareholders of Regions Treasury Money Market Fund
(the "Fund"), a portfolio of Regions Funds (the "Trust"), was held
on June 15, 1999. The following items, which are required to be reported
under this Item 77C, were approved as follows:
AGENDA ITEM 1: To elect Trustees.*
SHARES VOTED SHARES WITHHELD
FOR AUTHORITY
________________________________________________________________________
Thomas G. Bigley 535,208,967 97,920
Nicholas P. Constantakis 535,208,967 97,920
John F. Cunningham 535,208,967 97,920
J. Christopher Donahue 535,208,967 97,920
Charles F. Mansfield, Jr. 535,208,967 97,920
John E. Murray, Jr. 535,208,967 97,920
John S. Walsh 535,208,967 97,920
AGENDA ITEM 2: To ratify the selection of Deloitte & Touche LLP as the
Trust's independent auditors.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
531,725,574 71,203 3,510,109 -
AGENDA ITEM 3: To make changes to the Fund's fundamental investment
policies:
(a) To amend the Fund's fundamental investment policy regarding
diversification.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
529,897,644 1,511 3,897,732 1
*The following Trustees of the Fund continued their terms as Trustees of
the Fund:
John F. Donahue, John T. Conroy, William J. Copeland, James E. Dowd,
Lawrence D. Ellis, M.D., Edward L. Flaherty, Jr., Edward C. Gonzales,
Peter E. Madden, Wesley W. Posvar, Marjorie P. Smuts
(b) To amend the Fund's fundamental investment policy regarding
borrowing money and issuing senior securities.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
529,307,718 2,075,922 3,923,246 1
(c) To amend the Fund's fundamental investment policy regarding
investments in real estate.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
529,606,710 1,749,638 3,950,538 1
(d) To amend the Fund's fundamental investment policy regarding
investments in commodities.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
529,131,184 2,287,494 3,888,209 1
(e) To amend the Fund's fundamental investment policy regarding
underwriting securities.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
529,367,609 2,042,981 3,896,297 0
(f) To amend the Fund's fundamental investment policy regarding lending
by the Fund.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
529,151,027 2,364,572 3,791,288 0
(g) To amend the Fund's fundamental investment policy regarding
concentration of the Fund's investments in the securities of
companies in the same industry.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
529,313,453 2,207,221 3,786,213 0
(h) To amend, and to make non-fundamental, the Fund's fundamental
investment policy regarding buying securities on margin.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
528,737,774 2,736,222 3,832,890 1
(i) To amend, and to make non-fundamental, the Fund's fundamental
investment policy regarding pledging assets.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
528,859,247 2,639,146 3,808,494 0
AGENDA ITEM 4: To eliminate the Fund's fundamental investment policy on
selling securities short.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
529,106,277 2,338,200 3,862,410 0
AGENDA ITEM 5: To approve an amendment and restatement to the Trust's
Declaration of Trust to permit the Board of Trustees to liquidate assets
of the Trust without seeking shareholder approval.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
529,037,733 2,353,277 3,915,877 0
The Definitive Proxy Statement for the Special Meeting held on June 15,
1999, was filed with the Securities and Exchange Commission on May 7,
1999, and is incorporated by reference. (File No. 811-6511)
Item 77 C-7 -- Submission of Matters to a Vote of Security Holders
A Special Meeting of Shareholders of Regions Value Fund (the "Fund"),
a portfolio of Regions Funds (the "Trust"), was held on June 15, 1999.
The following items, which are required to be reported under this Item
77C, were approved as follows:
AGENDA ITEM 1: To elect Trustees.*
SHARES VOTED SHARES WITHHELD
FOR AUTHORITY
________________________________________________________________________
Thomas G. Bigley 13,593,768 1,616
Nicholas P. Constantakis 13,593,768 1,616
John F. Cunningham 13,593,768 1,616
J. Christopher Donahue 13,593,768 1,616
Charles F. Mansfield, Jr. 13,593,768 1,616
John E. Murray, Jr. 13,593,768 1,616
John S. Walsh 13,593,768 1,616
AGENDA ITEM 2: To ratify the selection of Deloitte & Touche LLP as the
Trust's independent auditors.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
13,587,862 1,080 6,442 -
AGENDA ITEM 3: To make changes to the Fund's fundamental investment
policies:
(a) To amend the Fund's fundamental investment policy regarding
diversification.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
13,585,832 1,135 8,416 1
*The following Trustees of the Fund continued their terms as Trustees of
the Fund:
John F. Donahue, John T. Conroy, William J. Copeland, James E. Dowd,
Lawrence D. Ellis, M.D., Edward L. Flaherty, Jr., Edward C. Gonzales,
Peter E. Madden, Wesley W. Posvar, Marjorie P. Smuts
(b) To amend the Fund's fundamental investment policy regarding
borrowing money and issuing senior securities.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
13,582,108 5,212 8,063 1
(c) To amend the Fund's fundamental investment policy regarding
investments in real estate.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
13,584,458 2,802 8,123 1
(d) To amend the Fund's fundamental investment policy regarding
investments in commodities.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
13,584,475 3,962 6,946 1
(e) To amend the Fund's fundamental investment policy regarding
underwriting securities.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
13,584,744 3,693 6,946 1
(f) To amend the Fund's fundamental investment policy regarding lending
by the Fund.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
13,583,298 4,292 7,793 1
(g) To amend the Fund's fundamental investment policy regarding
concentration of the Fund's investments in the securities of
companies in the same industry.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
13,586,284 139 8,960 1
(h) To amend, and to make non-fundamental, the Fund's fundamental
investment policy regarding buying securities on margin.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
13,582,568 2,046 10,770 0
(i) To amend, and to make non-fundamental, the Fund's fundamental
investment policy regarding pledging assets.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
13,582,601 5,714 7,068 1
AGENDA ITEM 4: To eliminate the Fund's fundamental investment policy on
selling securities short.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
13,585,907 2,033 7,443 1
AGENDA ITEM 5: To approve an amendment and restatement to the Trust's
Declaration of Trust to permit the Board of Trustees to liquidate assets
of the Trust without seeking shareholder approval.
The results of shareholders voting were as follows:
SHARES VOTED SHARES VOTED SHARES BROKER
FOR AGAINST ABSTAIN NON VOTE
________________________________________________________________________
13,578,232 8,896 8,255 1
The Definitive Proxy Statement for the Special Meeting held on June 15,
1999, was filed with the Securities and Exchange Commission on May 7,
1999, and is incorporated by reference. (File No. 811-6511)
