<PAGE> PAGE 1
000 B000000 11/30/98
000 C000000 0000869393
000 D000000 N
000 E000000 NF
000 F000000 Y
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000 H000000 N
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000 J000000 U
001 A000000 NEWPOINT FUNDS
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004 000000 N
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007 C020200 NEWPOINT EQUITY FUND
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007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
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008 A00AA01 FIRSTMERIT BANK, N.A.
008 B00AA01 A
008 C00AA01 801-0000
008 D01AA01 AKRON
008 D02AA01 OH
008 D03AA01 44308
008 D04AA01 1440
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
<PAGE> PAGE 2
011 C01AA01 PITTSBURGH
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
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018 00AA00 Y
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020 A000001 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
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020 C000001 8
020 A000002 SMITH BARNEY, INC.
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020 C000002 6
020 A000003 BERNSTEIN (SANFORD CO.) & CO.,INC.
020 B000003 13-2625874
020 C000003 4
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020 B000004 13- 263816
020 C000004 4
020 A000005 SOUNDVIEW FINANCIAL GROUP, INC.
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<PAGE> PAGE 3
022 B000003 13-2655998
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022 C000004 32622
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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015 A000101 STATE STREET BANK & TRUST COMPANY
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
070 I010100 N
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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SIGNATURE STEVE KEANE
TITLE GENERAL COUNSEL
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000869393
<NAME> Newpoint Funds
<SERIES>
<NUMBER> 001
<NAME> Newpoint Government Money Market Fund
<S> <C>
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<PERIOD-END> Nov-30-1998
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<DIVIDEND-INCOME> 0
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<EXPENSES-NET> (723,809)
<NET-INVESTMENT-INCOME> 5,778,501
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 5,778,501
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (5,778,501)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 237,093,604
<NUMBER-OF-SHARES-REDEEMED> (228,101,846)
<SHARES-REINVESTED> 2,832,030
<NET-CHANGE-IN-ASSETS> 11,823,788
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<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.050
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<PER-SHARE-DIVIDEND> (0.050)
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<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 0.60
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<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000869393
<NAME> Newpoint Funds
<SERIES>
<NUMBER> 002
<NAME> Newpoint Equity Fund
<S> <C>
<PERIOD-TYPE> 12-MOS
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<PERIOD-END> Nov-30-1998
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<SHARES-COMMON-PRIOR> 2,763,265
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<OVERDISTRIBUTION-NII> 0
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<OVERDISTRIBUTION-GAINS> 0
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<NET-CHANGE-FROM-OPS> 8,952,398
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (40,878)
<DISTRIBUTIONS-OF-GAINS> (2,622,798)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 209,947
<NUMBER-OF-SHARES-REDEEMED> (177,349)
<SHARES-REINVESTED> 163,745
<NET-CHANGE-IN-ASSETS> 9,431,286
<ACCUMULATED-NII-PRIOR> 9,690
<ACCUMULATED-GAINS-PRIOR> 2,622,808
<OVERDISTRIB-NII-PRIOR> 0
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<PER-SHARE-NAV-BEGIN> 17.690
<PER-SHARE-NII> 0.010
<PER-SHARE-GAIN-APPREC> 2.970
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</TABLE>
CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
As independent public accountants, we hereby consent to the use in Post-
Effective Amendment No. 16 to Form N-1A Registration Statement of Newpoint
Funds of our report dated January 15, 1999, on the financial statements as of
November 30, 1998, of Newpoint Government Money Market Fund and Newpoint
Equity Fund (the two portfolios comprising Newpoint Funds), included in or
made a part of this registration statement.
ARTHUR ANDERSEN LLP
Boston, Massachusetts
January 26, 1999
