FIRST AMERICAN INVESTMENT FUNDS INC
485APOS, 1995-06-07
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                                              1933 Act Registration No. 33-16905
                                              1940 Act Registration No. 811-5309

      As filed with the Securities and Exchange Commission on June 7, 1995


                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM N-1A

           REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 [x]


                         Pre-Effective Amendment No. [ ]
                       Post-Effective Amendment No. 22 [x]


                                     and/or

                  REGISTRATION STATEMENT UNDER THE INVESTMENT
                            COMPANY ACT OF 1940 [x]


                                Amendment No. 23

                     FIRST AMERICAN INVESTMENT FUNDS, INC.
               (Exact Name of Registrant as Specified in Charter)

              680 EAST SWEDESFORD ROAD, WAYNE, PENNSYLVANIA 19087
                 (Address of Principal Executive Offices) (Zip Code)

                                 (610) 254-1924
              (Registrant's Telephone Number, including Area Code)

                                   DAVID LEE
    C/O SEI CORPORATION, 680 EAST SWEDESFORD ROAD, WAYNE, PENNSYLVANIA 19087
                    (Name and Address of Agent for Service)

                                   Copies to:

     Kathryn Stanton, Esq.                           Michael J. Radmer, Esq.
       SEI Corporation                                  James D. Alt, Esq.
   680 East Swedesford Road                         Dorsey & Whitney P.L.L.P.
   Wayne, Pennsylvania 19087                          220 South Sixth Street
                                                   Minneapolis, Minnesota  55402

It is proposed that this filing shall become effective (check appropriate box):

         [ ] immediately upon filing pursuant to paragraph (b) of rule 485
         [ ] on (date) pursuant to paragraph (b) of rule 485
         [ ] 60 days after filing pursuant to paragraph (a)(i) of Rule 485
         [ ] on (date) pursuant to paragraph (a)(i) of Rule 485
         [ ] 75 days after filing pursuant to paragraph (a)(ii) of Rule 485
         [x] with respect to Real Estate Securities Fund, on June 30, 1995
             pursuant to paragraph (a)(ii) of rule 485

Registrant has registered an indefinite number or amount of securities under the
Securities Act of 1933 pursuant to Rule 24f-2 under the Investment Company Act
of 1940. A Rule 24f-2 Notice was filed with the Securities and Exchange
Commission on November 16, 1994.



                                   SIGNATURES

       Pursuant to the requirements of the Securities Act of 1933 and the
Investment Company Act of 1940, as amended, the Registrant certifies that it has
duly caused this Post-Effective Amendment No. 22 to Registration Statement No.
33-16905 to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Wayne, Commonwealth of Pennsylvania, on the 7th day
of June, 1995.

                                          FIRST AMERICAN INVESTMENT FUNDS, INC.


   ATTEST: /s/ Stephen G. Meyer                       By: /s/ David Lee
           Stephen Meyer                                  David Lee, President

       Pursuant to the requirements of the Securities Act of 1933, this
Amendment to the Registration Statement has been signed below by the following
persons in the capacity and on the dates indicated.

     SIGNATURE                        TITLE                              DATE


 /s/ Stephen G. Meyer            Controller (Principal                    **
    Stephen Meyer                Financial and Accounting
                                 Officer)

          *                      Director                                 **
  Robert J. Dayton


          *                      Director                                 **
  Welles B. Eastman


          *                      Director                                 **
   Irving D. Fish


          *                      Director                                **
 Leonard W. Kedrowski


          *                      Director                                **
  Joseph D. Strauss


          *                      Director                                **
 Virginia L. Stringer


          *                      Director                                **
    Gae B. Veit


* By:  /s/ David Lee
         David Lee
      Attorney in Fact

**    June 7, 1995.




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