<PAGE> PAGE 1
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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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SIGNATURE S. ELLIOT COHAN
TITLE ASST. GEN. COUNSEL
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 01
<NAME> Federated Investment Portfolios
Bond Index Fund
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<PERIOD-END> May-31-1996
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<NET-INVESTMENT-INCOME> 1,141,277
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<NET-CHANGE-IN-ASSETS> 6,318,587
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</TABLE>