<ARTICLE>  6

<NUMBER>0103
<NAME>NATIONS HIGH YIELD BOND  INVESTOR A

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