<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the Form
N-SAR and the financial statements and is qualified in its entirety by
references to such documents.
</LEGEND>
<SERIES>
   <NUMBER> 062
   <NAME> NUVEEN FLAGSHIP NM MUNICIPAL BOND FUND - CLASS B
<MULTIPLIER> 1000

<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          MAY-31-2000
<PERIOD-START>                             JUN-01-1999
<PERIOD-END>                               MAY-31-2000
<INVESTMENTS-AT-COST>                            51771
<INVESTMENTS-AT-VALUE>                           50711
<RECEIVABLES>                                     1017
<ASSETS-OTHER>                                     737
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   52465
<PAYABLE-FOR-SECURITIES>                          1046
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          152
<TOTAL-LIABILITIES>                               1198
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         53721
<SHARES-COMMON-STOCK>                              281
<SHARES-COMMON-PRIOR>                              257
<ACCUMULATED-NII-CURRENT>                         (67)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                         (1327)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        (1060)
<NET-ASSETS>                                     51267
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                 3310
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     696
<NET-INVESTMENT-INCOME>                           2614
<REALIZED-GAINS-CURRENT>                         (736)
<APPREC-INCREASE-CURRENT>                       (4421)
<NET-CHANGE-FROM-OPS>                           (2543)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                          111
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                             68
<NUMBER-OF-SHARES-REDEEMED>                         50
<SHARES-REINVESTED>                                  6
<NET-CHANGE-IN-ASSETS>                         (10641)
<ACCUMULATED-NII-PRIOR>                             37
<ACCUMULATED-GAINS-PRIOR>                        (591)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              307
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    700
<AVERAGE-NET-ASSETS>                              2688
<PER-SHARE-NAV-BEGIN>                            10.57
<PER-SHARE-NII>                                    .40
<PER-SHARE-GAIN-APPREC>                          (.90)
<PER-SHARE-DIVIDEND>                             (.41)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.66
<EXPENSE-RATIO>                                   1.96



</TABLE>