<PAGE> PAGE 1
000 A000000 05/31/96
000 C000000 0000869393
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 NEWPOINT FUNDS
001 B000000 811-6224
001 C000000 4122886331
002 A000000 FEDERATED INVESTORS TOWER
002 B000000 PITTSBURGH
002 C000000 PA
002 D010000 15222
002 D020000 3779
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 2
007 C010100 1
007 C020100 NEWPOINT GOVERNMENT MONEY MARKET FUND
007 C030100 N
007 C010200 2
007 C020200 NEWPOINT EQUITY FUND
007 C030200 N
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 FIRST NATIONAL BANK OF OHIO
008 B00AA01 A
008 C00AA01 801-0000
008 D01AA01 AKRON
008 D02AA01 OH
008 D03AA01 44308
010 A00AA01 FEDERATED ADMINISTRATIVE SERVICES
010 C01AA01 PITTSBURGH
010 C02AA01 PA
010 C03AA01 15222
010 C04AA01 3779
011 A00AA01 FEDERATED SECURITIES CORP.
011 B00AA01 8-15561
011 C01AA01 PITTSBURGH
<PAGE> PAGE 2
011 C02AA01 PA
011 C03AA01 15222
011 C04AA01 3779
012 A00AA01 FEDERATED SHAREHOLDER SERVICES COMPANY
012 B00AA01 84-1869
012 C01AA01 PITTSBURGH
012 C02AA01 PA
012 C03AA01 15222
012 C04AA01 3779
013 A00AA01 ARTHUR ANDERSEN LLP
013 B01AA01 PITTSBURGH
013 B02AA01 PA
013 B03AA01 15222
015 A00AA01 STATE STREET BANK AND TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02266
015 C04AA01 8600
015 E01AA01 X
015 A00AA02 PNC BANK, NA
015 B00AA02 S
015 C01AA02 PITTSBURGH
015 C02AA02 PA
015 C03AA02 15265
015 E01AA02 X
015 A00AA03 NATIONSBANK OF NORTH CAROLINA
015 B00AA03 S
015 C01AA03 CHARLOTTE
015 C02AA03 NC
015 C03AA03 28255
015 E01AA03 X
015 A00AA04 MORGAN GUARANTY BANK & TRUST CO.
015 B00AA04 S
015 C01AA04 NEW YORK
015 C02AA04 NY
015 C03AA04 10015
015 E01AA04 X
015 A00AA05 CHEMICAL BANK & TRUST CO.
015 B00AA05 S
015 C01AA05 NEW YORK
015 C02AA05 NY
015 C03AA05 10006
015 E01AA05 X
015 A00AA06 BANK OF NEW YORK
015 B00AA06 S
015 C01AA06 NEW YORK
015 C02AA06 NY
015 C03AA06 10006
015 E01AA06 X
015 A00AA07 BANKERS TRUST CO.
<PAGE> PAGE 3
015 B00AA07 S
015 C01AA07 NEW YORK
015 C02AA07 NY
015 C03AA07 10015
015 E01AA07 X
018 00AA00 Y
019 A00AA00 N
019 B00AA00 0
020 A000001 BEAR, STEARNS & CO.
020 B000001 13-4946705
020 C000001 17
020 A000002 DAVIS (SHELBY CULLOM) & CO.
020 B000002 13-5533010
020 C000002 7
020 A000003 OPPENHEIMER & CO.
020 B000003 13-2798343
020 C000003 6
020 A000004 COWEN & CO.
020 B000004 13-5616116
020 C000004 2
020 A000005 DONALDSON, LUFKIN JENRETTE/PERSHING CO.
020 B000005 13-2741729
020 C000005 1
020 A000006 PAINEWEBBER, INC.
020 B000006 13-2638166
020 C000006 1
020 A000007 SHELBY, KERN, FREDRICK & SHELBY
020 C000007 1
020 A000008 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
020 B000008 13-5674085
020 C000008 1
020 C000009 0
020 C000010 0
021 000000 36
022 A000001 SMITH BARNEY, INC.
022 B000001 13-1912900
022 C000001 1870000
022 D000001 101
022 A000002 NATCITY INVESTMENTS, INC.
022 B000002 35-1660474
022 C000002 1440878
022 D000002 0
022 A000003 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 B000003 13-5674085
022 C000003 1081954
022 D000003 177
022 A000004 HSBC SECURITIES, INC.
022 B000004 13-2650272
022 C000004 120601
022 D000004 0
022 A000005 BANK ONE CAPITAL
<PAGE> PAGE 4
022 C000005 7787
022 D000005 0
022 A000006 BEAR, STEARNS & CO.
022 B000006 13-4946705
022 C000006 490
022 D000006 0
022 A000007 OPPENHEIMER & CO.
022 B000007 13-2798343
022 C000007 0
022 D000007 218
022 C000008 0
022 D000008 0
022 C000009 0
022 D000009 0
022 C000010 0
022 D000010 0
023 C000000 4521710
023 D000000 495
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 Y
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
034 00AA00 N
035 00AA00 0
036 B00AA00 0
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
049 00AA00 N
<PAGE> PAGE 5
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
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 1000
077 A000000 N
078 000000 N
028 A010100 18334
028 A020100 80
028 A030100 0
028 A040100 9343
028 B010100 13185
028 B020100 83
028 B030100 0
028 B040100 32009
028 C010100 14548
028 C020100 72
028 C030100 0
028 C040100 17843
028 D010100 11214
028 D020100 80
028 D030100 0
028 D040100 11747
028 E010100 18155
028 E020100 87
028 E030100 0
028 E040100 23277
028 F010100 14340
028 F020100 0
028 F030100 0
<PAGE> PAGE 6
028 F040100 17496
028 G010100 89776
028 G020100 402
028 G030100 0
028 G040100 111715
028 H000100 0
029 000100 N
030 A000100 0
030 B000100 0.00
030 C000100 0.00
031 A000100 0
031 B000100 0
032 000100 0
033 000100 0
037 000100 N
038 000100 0
039 000100 N
040 000100 N
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.500
048 A010100 0
048 A020100 0.000
048 B010100 0
048 B020100 0.000
048 C010100 0
048 C020100 0.000
048 D010100 0
048 D020100 0.000
048 E010100 0
048 E020100 0.000
048 F010100 0
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 0
048 K020100 0.000
055 A000100 N
055 B000100 N
056 000100 Y
057 000100 N
062 A000100 Y
062 B000100 16.2
062 C000100 63.5
<PAGE> PAGE 7
062 D000100 20.7
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 0.0
062 N000100 0.0
062 O000100 0.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
063 A000100 83
063 B000100 0.0
064 A000100 N
064 B000100 N
066 A000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 Y
070 B010100 N
070 B020100 N
070 C010100 N
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 N
070 K020100 N
070 L010100 N
070 L020100 N
070 M010100 N
070 M020100 N
070 N010100 Y
<PAGE> PAGE 8
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 Y
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 0
071 B000100 0
071 C000100 0
071 D000100 0
072 A000100 6
072 B000100 2456
072 C000100 0
072 D000100 0
072 E000100 0
072 F000100 227
072 G000100 68
072 H000100 0
072 I000100 21
072 J000100 14
072 K000100 0
072 L000100 6
072 M000100 3
072 N000100 9
072 O000100 0
072 P000100 0
072 Q000100 20
072 R000100 9
072 S000100 3
072 T000100 0
072 U000100 0
072 V000100 0
072 W000100 2
072 X000100 382
072 Y000100 91
072 Z000100 2165
072AA000100 0
072BB000100 0
072CC010100 0
072CC020100 0
072DD010100 2165
072DD020100 0
072EE000100 0
073 A010100 0.0200
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 0
<PAGE> PAGE 9
074 B000100 16146
074 C000100 62263
074 D000100 0
074 E000100 0
074 F000100 0
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 0
074 K000100 0
074 L000100 72
074 M000100 0
074 N000100 78481
074 O000100 0
074 P000100 0
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 345
074 S000100 0
074 T000100 78136
074 U010100 0
074 U020100 0
074 V010100 1.00
074 V020100 0.00
074 W000100 0.9993
074 X000100 0
074 Y000100 0
075 A000100 90849
075 B000100 0
076 000100 0.00
028 A010200 439
028 A020200 14
028 A030200 0
028 A040200 68
028 B010200 202
028 B020200 0
028 B030200 0
028 B040200 76
028 C010200 335
028 C020200 0
028 C030200 0
028 C040200 314
028 D010200 525
028 D020200 71
028 D030200 0
028 D040200 98
028 E010200 1166
028 E020200 234
028 E030200 0
<PAGE> PAGE 10
028 E040200 78
028 F010200 1851
028 F020200 304
028 F030200 0
028 F040200 54
028 G010200 4518
028 G020200 623
028 G030200 0
028 G040200 688
028 H000200 4315
029 000200 Y
030 A000200 0
030 B000200 4.50
030 C000200 0.00
031 A000200 0
031 B000200 0
032 000200 0
033 000200 0
037 000200 N
038 000200 0
039 000200 N
040 000200 Y
041 000200 N
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.750
048 A010200 0
048 A020200 0.000
048 B010200 0
048 B020200 0.000
048 C010200 0
048 C020200 0.000
048 D010200 0
048 D020200 0.000
048 E010200 0
048 E020200 0.000
048 F010200 0
048 F020200 0.000
048 G010200 0
048 G020200 0.000
048 H010200 0
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 0
048 K020200 0.000
055 A000200 Y
055 B000200 N
<PAGE> PAGE 11
056 000200 Y
057 000200 N
062 A000200 N
062 B000200 0.0
062 C000200 0.0
062 D000200 0.0
062 E000200 0.0
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 0.0
062 N000200 0.0
062 O000200 0.0
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
063 A000200 0
063 B000200 0.0
066 A000200 Y
066 B000200 N
066 C000200 N
066 D000200 N
066 E000200 Y
066 F000200 N
066 G000200 N
067 000200 N
068 A000200 N
068 B000200 N
069 000200 N
070 A010200 Y
070 A020200 Y
070 B010200 Y
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 Y
070 D020200 N
070 E010200 Y
070 E020200 N
070 F010200 Y
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 Y
070 H020200 N
070 I010200 N
070 I020200 N
<PAGE> PAGE 12
070 J010200 Y
070 J020200 N
070 K010200 Y
070 K020200 N
070 L010200 Y
070 L020200 N
070 M010200 Y
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 Y
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 18024
071 B000200 9887
071 C000200 26951
071 D000200 37
072 A000200 6
072 B000200 32
072 C000200 219
072 D000200 0
072 E000200 0
072 F000200 105
072 G000200 50
072 H000200 0
072 I000200 15
072 J000200 12
072 K000200 0
072 L000200 4
072 M000200 1
072 N000200 8
072 O000200 0
072 P000200 0
072 Q000200 27
072 R000200 7
072 S000200 3
072 T000200 0
072 U000200 0
072 V000200 0
072 W000200 4
072 X000200 236
072 Y000200 63
072 Z000200 78
072AA000200 1873
072BB000200 298
072CC010200 1150
<PAGE> PAGE 13
072CC020200 0
072DD010200 70
072DD020200 0
072EE000200 315
073 A010200 0.0300
073 A020200 0.0000
073 B000200 0.1600
073 C000200 0.0000
074 A000200 0
074 B000200 139
074 C000200 0
074 D000200 0
074 E000200 0
074 F000200 31835
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 0
074 K000200 0
074 L000200 166
074 M000200 0
074 N000200 32140
074 O000200 0
074 P000200 0
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 88
074 S000200 0
074 T000200 32052
074 U010200 2317
074 U020200 0
074 V010200 13.83
074 V020200 0.00
074 W000200 0.0000
074 X000200 111
074 Y000200 0
075 A000200 0
075 B000200 28204
076 000200 0.00
SIGNATURE S. ELLIOTT COHAN
TITLE ASST. GEN. COUNSEL
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 01
<NAME> Newpoint Funds
Newpoint Government Money Market Fund
<PERIOD-TYPE> 6-Mos
<FISCAL-YEAR-END> Nov-30-1996
<PERIOD-END> May-31-1996
<INVESTMENTS-AT-COST> 78,409,244
<INVESTMENTS-AT-VALUE> 78,409,244
<RECEIVABLES> 72,534
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 78,481,778
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 345,108
<TOTAL-LIABILITIES> 345,108
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 78,136,670
<SHARES-COMMON-STOCK> 78,136,670
<SHARES-COMMON-PRIOR> 99,673,706
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 78,136,670
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,456,652
<OTHER-INCOME> 0
<EXPENSES-NET> 291,942
<NET-INVESTMENT-INCOME> 2,164,710
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 2,164,710
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2,164,710
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 89,776,058
<NUMBER-OF-SHARES-REDEEMED> 111,715,228
<SHARES-REINVESTED> 402,134
<NET-CHANGE-IN-ASSETS> (21,537,036)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 227,123
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 382,791
<AVERAGE-NET-ASSETS> 90,849
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.020
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> 0.020
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 0.64
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 02
<NAME> Newpoint Funds
Newpoint Equity Fund
<PERIOD-TYPE> 6-Mos
<FISCAL-YEAR-END> Nov-30-1996
<PERIOD-END> May-31-1996
<INVESTMENTS-AT-COST> 26,062,584
<INVESTMENTS-AT-VALUE> 31,973,600
<RECEIVABLES> 166,385
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 32,052,229
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 87,756
<TOTAL-LIABILITIES> 87,756
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 24,562,864
<SHARES-COMMON-STOCK> 2,317,080
<SHARES-COMMON-PRIOR> 2,033,868
<ACCUMULATED-NII-CURRENT> 13,950
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,564,399
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 5,911,016
<NET-ASSETS> 32,052,229
<DIVIDEND-INCOME> 219,112
<INTEREST-INCOME> 32,125
<OTHER-INCOME> 0
<EXPENSES-NET> 172,854
<NET-INVESTMENT-INCOME> 78,383
<REALIZED-GAINS-CURRENT> 1,574,541
<APPREC-INCREASE-CURRENT> 1,150,401
<NET-CHANGE-FROM-OPS> 2,803,325
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 69,834
<DISTRIBUTIONS-OF-GAINS> 315,173
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 334,645
<NUMBER-OF-SHARES-REDEEMED> 51,478
<SHARES-REINVESTED> 45
<NET-CHANGE-IN-ASSETS> 6,249,669
<ACCUMULATED-NII-PRIOR> 5,401
<ACCUMULATED-GAINS-PRIOR> 305,031
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 105,085
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 236,188
<AVERAGE-NET-ASSETS> 28,204,200
<PER-SHARE-NAV-BEGIN> 12.690
<PER-SHARE-NII> 0.030
<PER-SHARE-GAIN-APPREC> 1.300
<PER-SHARE-DIVIDEND> 0.030
<PER-SHARE-DISTRIBUTIONS> 0.160
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 13.830
<EXPENSE-RATIO> 1.23
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
