WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000745968
<NAME> FEDERATED EQUITY FUNDS
<SERIES>
<NUMBER> 043
<NAME> FEDERATED AGGRESSIVE GROWTH FUND- CLASS C
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> Oct-31-2000
<PERIOD-END> Oct-31-2000
<INVESTMENTS-AT-COST> 488,633,028
<INVESTMENTS-AT-VALUE> 387,712,066
<RECEIVABLES> 16,791,078
<ASSETS-OTHER> 2,965
<OTHER-ITEMS-ASSETS> 25
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<PAYABLE-FOR-SECURITIES> 13,406,722
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,173,001
<TOTAL-LIABILITIES> 15,579,723
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 491,767,089
<SHARES-COMMON-STOCK> 2,075,510
<SHARES-COMMON-PRIOR> 401,683
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1,919,712)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (100,920,966)
<NET-ASSETS> 42,107,472
<DIVIDEND-INCOME> 38,620
<INTEREST-INCOME> 142,687
<OTHER-INCOME> 0
<EXPENSES-NET> (5,774,985)
<NET-INVESTMENT-INCOME> (5,593,678)
<REALIZED-GAINS-CURRENT> (1,027,005)
<APPREC-INCREASE-CURRENT> (133,844,050)
<NET-CHANGE-FROM-OPS> (140,464,733)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (82,111)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,662,224
<NUMBER-OF-SHARES-REDEEMED> (1,991,504)
<SHARES-REINVESTED> 3,107
<NET-CHANGE-IN-ASSETS> 318,506,475
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 557,950
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,880,883
<INTEREST-EXPENSE> 0
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<PER-SHARE-NAV-BEGIN> 20.540
<PER-SHARE-NII> (0.600)
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<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> (0.200)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 20.290
<EXPENSE-RATIO> 2.330
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
</TABLE>
