FEDERATED EQUITY FUNDS
24F-2NT, 2001-01-17
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                                  UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                   FORM 24F-2

                        ANNUAL NOTICE OF SECURITIES SOLD

                             PURSUANT TO RULE 24F-2



READ INSTRUCTIONS AT END OF FORM BEFORE PREPARING FORM. PLEASE PRINT OR TYPE.

1.   Name and address of issuer:

                             Federated Equity Funds

                               Federated Investors

                            Federated Investors Tower

                       Pittsburgh, Pennsylvania 15222-3779

2.   The name of each series or class of securities for which this Form is filed
     (If the Form is being filed for all series and classes of securities of the
     issuer, check the box but do not list series or classes): [ X ]


3.    Investment Company Act File Number:    811-4017
      Securities Act File Number:            2-91090


4(a). Last day of fiscal year for which this Form is filed:OCTOBER 31, 2000


4(b).[ ] Check  box if  this  Form is  being  filed  late  (i.e.,  more  than 90
     calendar days after the end of the issuer's fiscal year).  (See Instruction
     A.2)

     NOTE:  IF THE  FORM  IS  BEING  FILED  LATE,  INTEREST  MUST BE PAID ON THE
REGISTRATION FEE DUE.


4(c).[ ] Check box if this is the last time the issuer will be filing this Form.



5.   Calculation of registration fee:

     (i)  Aggregate  sale  price of  securities  sold  during  the  fiscal  year
          pursuant to section 24(f): $6,706,212,944

     (ii) Aggregate  price of  securities  redeemed  or  repurchased  during the
          fiscal year:$3,403,624,640

     (iii)Aggregate  price of  securities  redeemed  or  repurchased  during any
          PRIOR  fiscal year ending no earlier  than  October 11, 1995 that were
          not  previously  used  to  reduce  registration  fees  payable  to the
          Commission: $ 0

     (iv) Total  available  redemption  credits  [add Items  5(ii) and  5(iii)]:
          --$3,403,624,640

     (v)  Net sales -- if Item 5(i) is greater  than Item 5(iv)  [subtract  Item
          5(iv) from Item 5(i)]: $3,302,588,304

     (vi) Redemption  credits  available for use in future years -- if Item 5(i)
          is less than Item 5(iv) [subtract Item 5(iv) from Item 5(i)]: $(0)

     (vii)Multiplier for determining  registration fee (See Instruction  C.9): x
          0.000250

     (viii) Registration  fee due [multiply Item 5(v) by Item 5(vii)] (enter "0"
          if no fee is due): =$825,647

6.   Prepaid Shares

     If the  response  to item 5(i) was  determined  by  deducting  an amount of
     securities that were  registered  under the Securities Act of 1933 pursuant
     to rule 24e-2 as in effect  before  [effective  date of  rescisison of rule
     24e-2],  then  report the amount of  securities  (number of shares or other
     units)  deducted  here:  -0-. If there is a number of shares or other units
     that were registered  pursuant to rule 24e-2 remaining unsold at the end of
     the fiscal year for which this form is filed that are  available for use by
     the issuer in future fiscal years, then state that number here: -0-.

7.   Interest due -- if this Form is being filed more than 90 days after the end
     of the issuer's fiscal year (see Instruction D): +$____________

8.   Total of the amount of the registration fee due plus any interest due [line
     5(viii) plus line 7]: =   $ 825,647

9.   Date  the  registration  fee  and  any  interest  payment  was  sent to the
     Commission's lockbox depository: January 16, 2001 Method of Delivery:

            [X ]  Wire Transfer
            [   ] Mail or other means


                                   SIGNATURES

     This Form has been signed below by the  following  persons on behalf of the
issuer and in the capacities and on the dates indicated.

By (Signature and Title)* /s/  Deborah M. Molini
                               Deborah M. Molini, Assistant Treasurer

Date:  January 10, 2001


* Please print the name and title of the signing officer below the signature.





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