<PAGE> PAGE 1
000 B000000 02/28/97
000 C000000 0001000808
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 MARKETVEST FUNDS
001 B000000 811-07383
001 C000000 4122887403
002 A000000 FEDERATED INVESTORS TOWER
002 B000000 PITTSBURGH
002 C000000 PA
002 D010000 15222
002 D020000 3779
003 000000 Y
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 1
007 C010100 1
007 C020100 MARKETVEST PA INTERMEDIATE MUNI BOND FUND
007 C030100 N
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 DAUPHIN DEPOSIT BANK AND TRUST COMPANY
008 B00AA01 A
008 C00AA01 801-0000
008 D01AA01 HARRISBURG
008 D02AA01 PA
008 D03AA01 17101
010 A00AA01 FEDERATED ADMINISTRATIVE SERVICES
010 C01AA01 PITTSBURGH
010 C02AA01 PA
010 C03AA01 15222
010 C04AA01 3779
011 A00AA01 EDGEWOOD SERVICES, INC.
011 B00AA01 8-46985
011 C01AA01 PITTSBURGH
011 C02AA01 PA
011 C03AA01 15230
<PAGE> PAGE 2
011 C04AA01 0897
012 A00AA01 FEDERATED SHAREHOLDER SERVICES COMPANY
012 B00AA01 84-1869
012 C01AA01 PITTSBURGH
012 C02AA01 PA
012 C03AA01 15222
012 C04AA01 3779
013 A00AA01 ERNST & YOUNG LLP
013 B01AA01 PITTSBURGH
013 B02AA01 PA
013 B03AA01 15219
015 A00AA01 DAUPHIN DEPOSIT BANK AND TRUST COMPANY
015 B00AA01 C
015 C01AA01 HARRISBURG
015 C02AA01 PA
015 C03AA01 17101
015 E03AA01 X
015 A00AA02 NORTHERN TRUST CO.
015 B00AA02 S
015 C01AA02 CHICAGO
015 C02AA02 IL
015 C03AA02 60675
015 E01AA02 X
018 00AA00 Y
019 A00AA00 N
019 B00AA00 0
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 0
022 A000001 A.H. WILLIAMS & CO., INC.
022 B000001 23-2177819
022 C000001 155527
022 D000001 259899
022 A000002 PROVIDENT NATIONAL BANK PF PHILADELPHIA
022 B000002 23-0990507
022 C000002 139335
022 D000002 140036
022 A000003 BANK 17-A7
022 C000003 221137
022 D000003 0
022 A000004 LEGG MASON WOOD WALKER, INC.
022 B000004 13-2764283
022 C000004 8954
<PAGE> PAGE 3
022 D000004 18822
022 A000005 JANNEY MONTGOMERY SCOTT, INC.
022 B000005 23-0731260
022 C000005 18509
022 D000005 0
022 A000006 SMITH BARNEY, INC.
022 B000006 13-1912900
022 C000006 7743
022 D000006 6025
022 A000007 MELLON BANK, N.A.
022 B000007 25-0659306
022 C000007 12999
022 D000007 0
022 A000008 MERIDIAN CAPITAL CORPORATION
022 C000008 5750
022 D000008 6392
022 A000009 PNC SECURITIES CORP.
022 B000009 25-1471636
022 C000009 10407
022 D000009 163
022 A000010 ROBERT C. CARR & CO.
022 C000010 1988
022 D000010 4962
023 C000000 615268
023 D000000 436301
024 00AA00 N
025 D00AA01 0
025 D00AA02 0
025 D00AA03 0
025 D00AA04 0
025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
026 A000000 N
026 B000000 Y
026 C000000 Y
026 D000000 N
026 E000000 Y
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 Y
027 000000 Y
028 A01AA00 1033
028 A02AA00 0
028 A03AA00 0
028 A04AA00 3410
028 B01AA00 2016
028 B02AA00 0
028 B03AA00 0
<PAGE> PAGE 4
028 B04AA00 2724
028 C01AA00 1598
028 C02AA00 0
028 C03AA00 0
028 C04AA00 1642
028 D01AA00 1028
028 D02AA00 1
028 D03AA00 0
028 D04AA00 2948
028 E01AA00 1564
028 E02AA00 1
028 E03AA00 0
028 E04AA00 2289
028 F01AA00 1196
028 F02AA00 1
028 F03AA00 0
028 F04AA00 2494
028 G01AA00 8435
028 G02AA00 3
028 G03AA00 0
028 G04AA00 15507
028 H00AA00 8390
029 00AA00 Y
030 A00AA00 0
030 B00AA00 3.50
030 C00AA00 2.00
031 A00AA00 0
031 B00AA00 0
032 00AA00 0
033 00AA00 0
034 00AA00 N
035 00AA00 0
036 B00AA00 0
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 Y
041 00AA00 N
042 A00AA00 0
042 B00AA00 0
042 C00AA00 0
042 D00AA00 0
042 E00AA00 0
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
043 00AA00 0
044 00AA00 0
045 00AA00 Y
046 00AA00 N
047 00AA00 Y
<PAGE> PAGE 5
048 00AA00 0.750
048 A01AA00 0
048 A02AA00 0.000
048 B01AA00 0
048 B02AA00 0.000
048 C01AA00 0
048 C02AA00 0.000
048 D01AA00 0
048 D02AA00 0.000
048 E01AA00 0
048 E02AA00 0.000
048 F01AA00 0
048 F02AA00 0.000
048 G01AA00 0
048 G02AA00 0.000
048 H01AA00 0
048 H02AA00 0.000
048 I01AA00 0
048 I02AA00 0.000
048 J01AA00 0
048 J02AA00 0.000
048 K01AA00 0
048 K02AA00 0.000
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 Y
053 B00AA00 Y
053 C00AA00 N
054 A00AA00 N
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 N
054 I00AA00 N
054 J00AA00 N
054 K00AA00 N
054 L00AA00 N
054 M00AA00 N
054 N00AA00 N
054 O00AA00 N
055 A00AA00 N
055 B00AA00 N
056 00AA00 Y
057 00AA00 N
058 A00AA00 N
059 00AA00 Y
<PAGE> PAGE 6
060 A00AA00 N
060 B00AA00 N
061 00AA00 1000
062 A00AA00 Y
062 B00AA00 0.0
062 C00AA00 0.0
062 D00AA00 0.0
062 E00AA00 0.0
062 F00AA00 0.0
062 G00AA00 0.0
062 H00AA00 0.0
062 I00AA00 0.0
062 J00AA00 0.0
062 K00AA00 0.0
062 L00AA00 2.8
062 M00AA00 0.0
062 N00AA00 0.0
062 O00AA00 98.1
062 P00AA00 0.0
062 Q00AA00 0.0
062 R00AA00 1.5
063 A00AA00 0
063 B00AA00 8.2
064 A00AA00 Y
064 B00AA00 N
066 A00AA00 N
067 00AA00 N
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
070 A01AA00 Y
070 A02AA00 N
070 B01AA00 N
070 B02AA00 N
070 C01AA00 N
070 C02AA00 N
070 D01AA00 N
070 D02AA00 N
070 E01AA00 N
070 E02AA00 N
070 F01AA00 N
070 F02AA00 N
070 G01AA00 N
070 G02AA00 N
070 H01AA00 N
070 H02AA00 N
070 I01AA00 N
070 I02AA00 N
070 J01AA00 Y
070 J02AA00 N
070 K01AA00 Y
<PAGE> PAGE 7
070 K02AA00 Y
070 L01AA00 Y
070 L02AA00 N
070 M01AA00 N
070 M02AA00 N
070 N01AA00 Y
070 N02AA00 N
070 O01AA00 Y
070 O02AA00 N
070 P01AA00 Y
070 P02AA00 N
070 Q01AA00 N
070 Q02AA00 N
070 R01AA00 N
070 R02AA00 N
071 A00AA00 402665
071 B00AA00 189745
071 C00AA00 220634
071 D00AA00 86
072 A00AA00 11
072 B00AA00 10768
072 C00AA00 0
072 D00AA00 0
072 E00AA00 0
072 F00AA00 1541
072 G00AA00 321
072 H00AA00 0
072 I00AA00 22
072 J00AA00 36
072 K00AA00 0
072 L00AA00 8
072 M00AA00 4
072 N00AA00 77
072 O00AA00 0
072 P00AA00 0
072 Q00AA00 74
072 R00AA00 0
072 S00AA00 3
072 T00AA00 0
072 U00AA00 0
072 V00AA00 0
072 W00AA00 15
072 X00AA00 2101
072 Y00AA00 394
072 Z00AA00 9061
072AA00AA00 1266
072BB00AA00 1632
072CC01AA00 4600
072CC02AA00 0
072DD01AA00 9061
072DD02AA00 0
<PAGE> PAGE 8
072EE00AA00 0
073 A01AA00 0.4000
073 A02AA00 0.0000
073 B00AA00 0.0000
073 C00AA00 0.0000
074 A00AA00 0
074 B00AA00 0
074 C00AA00 0
074 D00AA00 217135
074 E00AA00 0
074 F00AA00 0
074 G00AA00 0
074 H00AA00 0
074 I00AA00 6095
074 J00AA00 2186
074 K00AA00 0
074 L00AA00 3399
074 M00AA00 0
074 N00AA00 228815
074 O00AA00 6576
074 P00AA00 0
074 Q00AA00 0
074 R01AA00 0
074 R02AA00 0
074 R03AA00 0
074 R04AA00 846
074 S00AA00 0
074 T00AA00 221393
074 U01AA00 21948
074 U02AA00 0
074 V01AA00 10.09
074 V02AA00 0.00
074 W00AA00 0.0000
074 X00AA00 23
074 Y00AA00 0
075 A00AA00 0
075 B00AA00 191061
076 00AA00 0.00
077 A000000 Y
077 B000000 Y
077 C000000 Y
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
<PAGE> PAGE 9
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 N
077 Q020000 N
077 Q030000 N
078 000000 N
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 B00AA00 THE AETNA CASUALTY AND SURETY COMPANY
080 C00AA00 85000
081 A00AA00 Y
081 B00AA00 257
082 A00AA00 N
082 B00AA00 0
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
SIGNATURE S. ELLIOTT COHAN
TITLE ASST. GEN. COUNSEL
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 01
<NAME> Marketvest Funds
Marketvest Pennsylvania Intermediate Municipal
Fund
<PERIOD-TYPE> 11-MOS
<FISCAL-YEAR-END> Feb-28-1997
<PERIOD-END> Feb-28-1997
<INVESTMENTS-AT-COST> 218,629,573
<INVESTMENTS-AT-VALUE> 223,229,943
<RECEIVABLES> 5,585,383
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 228,815,326
<PAYABLE-FOR-SECURITIES> 6,575,673
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 846,539
<TOTAL-LIABILITIES> 7,422,212
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 217,158,321
<SHARES-COMMON-STOCK> 21,947,952
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (365,577)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 4,600,370
<NET-ASSETS> 221,393,114
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 10,768,105
<OTHER-INCOME> 0
<EXPENSES-NET> 1,700,543
<NET-INVESTMENT-INCOME> 9,067,562
<REALIZED-GAINS-CURRENT> (365,577)
<APPREC-INCREASE-CURRENT> 4,600,370
<NET-CHANGE-FROM-OPS> 13,302,355
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 9,067,562
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 24,925,809
<NUMBER-OF-SHARES-REDEEMED> 2,978,392
<SHARES-REINVESTED> 535
<NET-CHANGE-IN-ASSETS> 221,293,114
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,540,764
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,101,492
<AVERAGE-NET-ASSETS> 191,061,511
<PER-SHARE-NAV-BEGIN> 10.000
<PER-SHARE-NII> 0.400
<PER-SHARE-GAIN-APPREC> 0.090
<PER-SHARE-DIVIDEND> 0.400
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.090
<EXPENSE-RATIO> 0.83
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
