INVESTMENT SERIES FUNDS INC
NSAR-A, 1999-06-28
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<PAGE>      PAGE  1
000 A000000 04/30/99
000 C000000 0000889388
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 INVESTMENT SERIES FUNDS, INC.
001 B000000 811-07021
001 C000000 4122888515
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  1
007 C010100  1
007 C020100 FEDERATED BOND FUND
007 C030100 N
007 C010200  2
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 FEDERATED INVESTMENT MANAGEMENT COMPANY
008 B00AA01 A
008 C00AA01 801-34612
008 D01AA01 PITTSBURGH
008 D02AA01 PA
008 D03AA01 15222
008 D04AA01 3779
010 A00AA01 FEDERATED SERVICES COMPANY
010 C01AA01 PITTSBURGH
010 C02AA01 PA
010 C03AA01 15222
010 C04AA01 3779
011 A00AA01 FEDERATED SECURITIES CORP.
011 B00AA01 8-15561
011 C01AA01 PITTSBURGH
011 C02AA01 PA
<PAGE>      PAGE  2
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 ERNST & YOUNG LLP
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02116
015 A00AA01 STATE STREET BANK AND TRUST CO.
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02266
015 C04AA01 8600
015 E01AA01 X
018  00AA00 Y
019 A00AA00 N
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020 C000001      0
020 C000002      0
020 C000003      0
020 C000004      0
020 C000005      0
020 C000006      0
020 C000007      0
020 C000008      0
020 C000009      0
020 C000010      0
021  000000        0
022 A000001 ABN AMRO CHICAGO CORPORATION
022 C000001    630190
022 D000001         0
022 A000002 WESTDEUTSCHE LANDESBANK
022 C000002    340665
022 D000002         0
022 A000003 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 B000003 13-5674085
022 C000003     75341
022 D000003      6586
022 A000004 STATE STREET BANK & TRUST CO.
022 B000004 04-1867445
022 C000004     60500
022 D000004     15000
022 A000005 MORGAN STANLEY & CO.
022 B000005 13-2655998
022 C000005     43309
022 D000005      8317
<PAGE>      PAGE  3
022 A000006 SALOMON SMITH BARNEY INC.
022 C000006     10590
022 D000006     36301
022 A000007 BEAR STEARNS SECURITIES
022 C000007     31442
022 D000007      2923
022 A000008 RAYMOND JAMES & ASSOCIATES, INC.
022 B000008 59-1237041
022 C000008     27309
022 D000008      2550
022 A000009 LEHMAN BROTHERS, INC.
022 B000009 13-2518466
022 C000009     16076
022 D000009      2925
022 A000010 GREENWICH CAPITAL MARKETS
022 C000010     11186
022 D000010         0
023 C000000    1285140
023 D000000      92539
026 A000000 N
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 Y
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027  000000 Y
028 A01AA00     41703
028 A02AA00      3160
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<PAGE>      PAGE  4
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028 G01AA00    249828
028 G02AA00     21005
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028 G04AA00    136914
028 H00AA00    233775
029  00AA00 Y
030 A00AA00   5153
030 B00AA00  4.50
030 C00AA00  0.00
031 A00AA00    109
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032  00AA00   5044
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035  00AA00    694
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042 F00AA00   0
042 G00AA00   0
042 H00AA00   0
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047  00AA00 Y
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<PAGE>      PAGE  5
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053 B00AA00 Y
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054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
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054 H00AA00 N
054 I00AA00 N
054 J00AA00 N
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054 M00AA00 N
054 N00AA00 N
054 O00AA00 N
055 A00AA00 N
055 B00AA00 N
056  00AA00 N
057  00AA00 N
058 A00AA00 N
059  00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061  00AA00      500
062 A00AA00 Y
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<PAGE>      PAGE  6
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063 B00AA00 11.1
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070 C02AA00 N
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070 D02AA00 N
070 E01AA00 N
070 E02AA00 N
070 F01AA00 N
070 F02AA00 N
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070 I01AA00 N
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<PAGE>      PAGE  7
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<PAGE>      PAGE  8
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074 J00AA00     4219
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074 O00AA00     4170
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074 Q00AA00        0
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074 R04AA00     3589
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074 T00AA00  1102921
074 U01AA00    41288
074 U02AA00    72374
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074 X00AA00    27734
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075 B00AA00  1064405
076  00AA00     0.00
077 A000000 Y
077 B000000 N
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
078  000000 N
080 A00AA00 LLOYD'S OF LONDON
080 B00AA00 ZURICH INSURANCE COMPANY; RELIANCE INS. CO.
080 C00AA00    70000
081 A00AA00 Y
081 B00AA00 158
082 A00AA00 N
082 B00AA00        0
083 A00AA00 N
<PAGE>      PAGE  9
083 B00AA00        0
084 A00AA00 N
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086 A020000      0
086 B010000      0
086 B020000      0
086 C010000      0
086 C020000      0
086 D010000      0
086 D020000      0
086 E010000      0
086 E020000      0
086 F010000      0
086 F020000      0
024  000100 N
025 A000101 DELETE
025 D000101       0
025 A000102 DELETE
025 D000102       0
025 A000103 DELETE
025 D000103       0
025 D000104       0
025 D000105       0
025 D000106       0
025 D000107       0
025 D000108       0
SIGNATURE   STEVE KEANE
TITLE       GENERAL COUNSEL


WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE>                         6
<CIK>                             0000889388
<NAME>                            Investment Series Funds, Inc.
<SERIES>
     <NUMBER>                     011
     <NAME>                       Federated Bond Fund, Class A

<S>                               <C>
<PERIOD-TYPE>                     6-MOS
<FISCAL-YEAR-END>                 Oct-31-1999
<PERIOD-END>                      Apr-30-1999
<INVESTMENTS-AT-COST>             1,093,763,713
<INVESTMENTS-AT-VALUE>            1,085,514,975
<RECEIVABLES>                     25,164,939
<ASSETS-OTHER>                    0
<OTHER-ITEMS-ASSETS>              0
<TOTAL-ASSETS>                    1,110,679,914
<PAYABLE-FOR-SECURITIES>          4,170,311
<SENIOR-LONG-TERM-DEBT>           0
<OTHER-ITEMS-LIABILITIES>         3,588,785
<TOTAL-LIABILITIES>               7,759,096
<SENIOR-EQUITY>                   0
<PAID-IN-CAPITAL-COMMON>          1,118,980,627
<SHARES-COMMON-STOCK>             26,052,344
<SHARES-COMMON-PRIOR>             21,470,168
<ACCUMULATED-NII-CURRENT>         0
<OVERDISTRIBUTION-NII>            (1,658,799)
<ACCUMULATED-NET-GAINS>           (6,152,272)
<OVERDISTRIBUTION-GAINS>          0
<ACCUM-APPREC-OR-DEPREC>          (8,248,738)
<NET-ASSETS>                      252,586,172
<DIVIDEND-INCOME>                 10,146,747
<INTEREST-INCOME>                 31,638,692
<OTHER-INCOME>                    0
<EXPENSES-NET>                    (7,291,907)
<NET-INVESTMENT-INCOME>           34,493,532
<REALIZED-GAINS-CURRENT>          (2,538,158)
<APPREC-INCREASE-CURRENT>         (10,647,892)
<NET-CHANGE-FROM-OPS>             21,307,482
<EQUALIZATION>                    0
<DISTRIBUTIONS-OF-INCOME>         (8,278,366)
<DISTRIBUTIONS-OF-GAINS>          0
<DISTRIBUTIONS-OTHER>             0
<NUMBER-OF-SHARES-SOLD>           7,489,421
<NUMBER-OF-SHARES-REDEEMED>       (3,516,793)
<SHARES-REINVESTED>               609,548
<NET-CHANGE-IN-ASSETS>            119,592,397
<ACCUMULATED-NII-PRIOR>           0
<ACCUMULATED-GAINS-PRIOR>         (3,614,114)
<OVERDISTRIB-NII-PRIOR>           (519,025)
<OVERDIST-NET-GAINS-PRIOR>        0
<GROSS-ADVISORY-FEES>             3,958,712
<INTEREST-EXPENSE>                0
<GROSS-EXPENSE>                   7,934,060
<AVERAGE-NET-ASSETS>              235,704,859
<PER-SHARE-NAV-BEGIN>             9.820
<PER-SHARE-NII>                   0.330
<PER-SHARE-GAIN-APPREC>           (0.110)
<PER-SHARE-DIVIDEND>              (0.340)
<PER-SHARE-DISTRIBUTIONS>         0.000
<RETURNS-OF-CAPITAL>              0.000
<PER-SHARE-NAV-END>               9.700
<EXPENSE-RATIO>                   1.05
[AVG-DEBT-OUTSTANDING]            0
[AVG-DEBT-PER-SHARE]              0.000



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE>                         6
<CIK>                             0000889388
<NAME>                            Investment Series Funds, Inc.
<SERIES>
     <NUMBER>                     012
     <NAME>                       Federated Bond Fund, Class B

<S>                               <C>
<PERIOD-TYPE>                     6-MOS
<FISCAL-YEAR-END>                 Oct-31-1999
<PERIOD-END>                      Apr-30-1999
<INVESTMENTS-AT-COST>             1,093,763,713
<INVESTMENTS-AT-VALUE>            1,085,514,975
<RECEIVABLES>                     25,164,939
<ASSETS-OTHER>                    0
<OTHER-ITEMS-ASSETS>              0
<TOTAL-ASSETS>                    1,110,679,914
<PAYABLE-FOR-SECURITIES>          4,170,311
<SENIOR-LONG-TERM-DEBT>           0
<OTHER-ITEMS-LIABILITIES>         3,588,785
<TOTAL-LIABILITIES>               7,759,096
<SENIOR-EQUITY>                   0
<PAID-IN-CAPITAL-COMMON>          1,118,980,627
<SHARES-COMMON-STOCK>             36,444,465
<SHARES-COMMON-PRIOR>             30,731,921
<ACCUMULATED-NII-CURRENT>         0
<OVERDISTRIBUTION-NII>            (1,658,799)
<ACCUMULATED-NET-GAINS>           (6,152,272)
<OVERDISTRIBUTION-GAINS>          0
<ACCUM-APPREC-OR-DEPREC>          (8,248,738)
<NET-ASSETS>                      353,649,657
<DIVIDEND-INCOME>                 10,146,747
<INTEREST-INCOME>                 31,638,692
<OTHER-INCOME>                    0
<EXPENSES-NET>                    (7,291,907)
<NET-INVESTMENT-INCOME>           34,493,532
<REALIZED-GAINS-CURRENT>          (2,538,158)
<APPREC-INCREASE-CURRENT>         (10,647,892)
<NET-CHANGE-FROM-OPS>             21,307,482
<EQUALIZATION>                    0
<DISTRIBUTIONS-OF-INCOME>         (10,410,370)
<DISTRIBUTIONS-OF-GAINS>          0
<DISTRIBUTIONS-OTHER>             0
<NUMBER-OF-SHARES-SOLD>           8,368,130
<NUMBER-OF-SHARES-REDEEMED>       (3,302,765)
<SHARES-REINVESTED>               647,179
<NET-CHANGE-IN-ASSETS>            119,592,397
<ACCUMULATED-NII-PRIOR>           0
<ACCUMULATED-GAINS-PRIOR>         (3,614,114)
<OVERDISTRIB-NII-PRIOR>           (519,025)
<OVERDIST-NET-GAINS-PRIOR>        0
<GROSS-ADVISORY-FEES>             3,958,712
<INTEREST-EXPENSE>                0
<GROSS-EXPENSE>                   7,934,060
<AVERAGE-NET-ASSETS>              333,079,889
<PER-SHARE-NAV-BEGIN>             9.830
<PER-SHARE-NII>                   0.300
<PER-SHARE-GAIN-APPREC>           (0.120)
<PER-SHARE-DIVIDEND>              (0.310)
<PER-SHARE-DISTRIBUTIONS>         0.000
<RETURNS-OF-CAPITAL>              0.000
<PER-SHARE-NAV-END>               9.700
<EXPENSE-RATIO>                   1.85
[AVG-DEBT-OUTSTANDING]            0
[AVG-DEBT-PER-SHARE]              0.000



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE>                         6
<CIK>                             0000889388
<NAME>                            Investment Series Funds, Inc.
<SERIES>
     <NUMBER>                     013
     <NAME>                       Federated Bond Fund, Class C

<S>                               <C>
<PERIOD-TYPE>                     6-MOS
<FISCAL-YEAR-END>                 Oct-31-1999
<PERIOD-END>                      Apr-30-1999
<INVESTMENTS-AT-COST>             1,093,763,713
<INVESTMENTS-AT-VALUE>            1,085,514,975
<RECEIVABLES>                     25,164,939
<ASSETS-OTHER>                    0
<OTHER-ITEMS-ASSETS>              0
<TOTAL-ASSETS>                    1,110,679,914
<PAYABLE-FOR-SECURITIES>          4,170,311
<SENIOR-LONG-TERM-DEBT>           0
<OTHER-ITEMS-LIABILITIES>         3,588,785
<TOTAL-LIABILITIES>               7,759,096
<SENIOR-EQUITY>                   0
<PAID-IN-CAPITAL-COMMON>          1,118,980,627
<SHARES-COMMON-STOCK>             9,877,391
<SHARES-COMMON-PRIOR>             7,796,769
<ACCUMULATED-NII-CURRENT>         0
<OVERDISTRIBUTION-NII>            (1,658,799)
<ACCUMULATED-NET-GAINS>           (6,152,272)
<OVERDISTRIBUTION-GAINS>          0
<ACCUM-APPREC-OR-DEPREC>          (8,248,738)
<NET-ASSETS>                      95,876,368
<DIVIDEND-INCOME>                 10,146,747
<INTEREST-INCOME>                 31,638,692
<OTHER-INCOME>                    0
<EXPENSES-NET>                    (7,291,907)
<NET-INVESTMENT-INCOME>           34,493,532
<REALIZED-GAINS-CURRENT>          (2,538,158)
<APPREC-INCREASE-CURRENT>         (10,647,892)
<NET-CHANGE-FROM-OPS>             21,307,482
<EQUALIZATION>                    0
<DISTRIBUTIONS-OF-INCOME>         (2,747,628)
<DISTRIBUTIONS-OF-GAINS>          0
<DISTRIBUTIONS-OTHER>             0
<NUMBER-OF-SHARES-SOLD>           3,005,544
<NUMBER-OF-SHARES-REDEEMED>       (1,111,859)
<SHARES-REINVESTED>               186,937
<NET-CHANGE-IN-ASSETS>            119,592,397
<ACCUMULATED-NII-PRIOR>           0
<ACCUMULATED-GAINS-PRIOR>         (3,614,114)
<OVERDISTRIB-NII-PRIOR>           (519,025)
<OVERDIST-NET-GAINS-PRIOR>        0
<GROSS-ADVISORY-FEES>             3,958,712
<INTEREST-EXPENSE>                0
<GROSS-EXPENSE>                   7,934,060
<AVERAGE-NET-ASSETS>              87,755,015
<PER-SHARE-NAV-BEGIN>             9.830
<PER-SHARE-NII>                   0.300
<PER-SHARE-GAIN-APPREC>           (0.110)
<PER-SHARE-DIVIDEND>              (0.310)
<PER-SHARE-DISTRIBUTIONS>         0.000
<RETURNS-OF-CAPITAL>              0.000
<PER-SHARE-NAV-END>               9.710
<EXPENSE-RATIO>                   1.85
[AVG-DEBT-OUTSTANDING]            0
[AVG-DEBT-PER-SHARE]              0.000



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE>                         6
<CIK>                             0000889388
<NAME>                            Investment Series Funds, Inc.
<SERIES>
     <NUMBER>                     014
     <NAME>                       Federated Bond Fund, Class F

<S>                               <C>
<PERIOD-TYPE>                     6-MOS
<FISCAL-YEAR-END>                 Oct-31-1999
<PERIOD-END>                      Apr-30-1999
<INVESTMENTS-AT-COST>             1,093,763,713
<INVESTMENTS-AT-VALUE>            1,085,514,975
<RECEIVABLES>                     25,164,939
<ASSETS-OTHER>                    0
<OTHER-ITEMS-ASSETS>              0
<TOTAL-ASSETS>                    1,110,679,914
<PAYABLE-FOR-SECURITIES>          4,170,311
<SENIOR-LONG-TERM-DEBT>           0
<OTHER-ITEMS-LIABILITIES>         3,588,785
<TOTAL-LIABILITIES>               7,759,096
<SENIOR-EQUITY>                   0
<PAID-IN-CAPITAL-COMMON>          1,118,980,627
<SHARES-COMMON-STOCK>             41,288,175
<SHARES-COMMON-PRIOR>             40,068,486
<ACCUMULATED-NII-CURRENT>         0
<OVERDISTRIBUTION-NII>            (1,658,799)
<ACCUMULATED-NET-GAINS>           (6,152,272)
<OVERDISTRIBUTION-GAINS>          0
<ACCUM-APPREC-OR-DEPREC>          (8,248,738)
<NET-ASSETS>                      400,808,621
<DIVIDEND-INCOME>                 10,146,747
<INTEREST-INCOME>                 31,638,692
<OTHER-INCOME>                    0
<EXPENSES-NET>                    (7,291,907)
<NET-INVESTMENT-INCOME>           34,493,532
<REALIZED-GAINS-CURRENT>          (2,538,158)
<APPREC-INCREASE-CURRENT>         (10,647,892)
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<PER-SHARE-NAV-BEGIN>             9.830
<PER-SHARE-NII>                   0.330
<PER-SHARE-GAIN-APPREC>           (0.110)
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<EXPENSE-RATIO>                   1.08
[AVG-DEBT-OUTSTANDING]            0
[AVG-DEBT-PER-SHARE]



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