<PAGE> PAGE 1
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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
054 B00AA00 N
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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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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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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015 A000301 STATE STREET BANK AND TRUST COMPANY
015 B000301 C
015 C010301 BOSTON
015 C020301 MA
015 C030301 02266
015 E010301 X
015 A000302 CITIBANK N.A.
015 B000302 S
015 C010302 BUENOS AIRES
015 D010302 ARGENTINA
015 E040302 X
015 A000303 WESTPAC CUSTODIAN NOMINEE LTD
015 B000303 S
015 C010303 SIDNEY
015 D010303 AUSTRALIA
015 E040303 X
015 A000304 GIROCREDIT BANK AKTIENGELLSCHAFT DER SPARKASS
015 B000304 S
015 C010304 VIENNA
015 D010304 AUSTRIA
015 E040304 X
015 A000305 GENERALE DE BANQUE
015 B000305 S
015 C010305 BRUSSELS
015 D010305 BELGIUM
015 E040305 X
015 A000306 CANADA TRUST COMPANY
015 B000306 S
015 C010306 TORONTO, ONTARIO
015 D010306 CANADA
015 E040306 X
015 A000307 BARKLAY'S BANK PLC
015 B000307 S
015 C010307 NICOSIA
015 D010307 CYPRUS
<PAGE> PAGE 21
015 E040307 X
015 A000308 DEN DANSKE BANK
015 B000308 S
015 C010308 DK-1092 COPENHAGEN
015 D010308 DENMARK
015 E040308 X
015 A000309 KANSALLIS-OSAKE-PANKKI
015 B000309 S
015 C010309 00500 HELSINKI
015 D010309 FINLAND
015 E040309 X
015 A000310 BANQUE PARIBAS
015 B000310 S
015 C010310 75078 PARIS
015 D010310 FRANCE
015 E040310 X
015 A000311 BERLINER HANDES-UND FRANKFURTER BANK
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015 A000312 NATIONAL BANK OF GREECE
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015 D010312 GREECE
015 E040312 X
015 A000313 STANDARD CHARTERED BANK
015 B000313 S
015 C010313 HONG KONG
015 D010313 HONG KONG
015 E040313 X
015 A000314 STANDARD CHARTERED EQUITOR GROUP
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015 C010314 JAKARTA
015 D010314 INDONESIA
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015 B000315 S
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015 D010315 IRELAND
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015 C010316 20121 MILANO
015 D010316 ITALY
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<PAGE> PAGE 22
015 A000318 STANDARD CHARTERED BANK MALAYSIA
015 B000318 S
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<PAGE> PAGE 23
015 B000328 S
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<PAGE> PAGE 24
028 E020300 0
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<PAGE> PAGE 25
048 E020300 0.000
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050 000300 N
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052 000300 N
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056 000300 N
057 000300 N
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<PAGE> PAGE 26
067 000300 N
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<PAGE> PAGE 27
072 H000300 0
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<PAGE> PAGE 28
074 S000300 0
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015 A000401 STATE STREET BANK AND TRUST COMPANY
015 B000401 C
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015 C040401 8602
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015 A000404 CANADA TRUST COMPANY
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<PAGE> PAGE 29
015 C010408 20121 MILANO
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<PAGE> PAGE 30
015 D010418 FINLAND
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<PAGE> PAGE 31
015 E040428 X
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 34
069 000400 N
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<PAGE> PAGE 35
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<PAGE> PAGE 36
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SIGNATURE S. ELLIOT COHAN
TITLE ASST. GEN. COUNCIL
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 1
<NAME> Managed Series Trust
Federated Managed Aggressive Growth Fund
Select Shares
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Nov-30-1995
<PERIOD-END> May-31-1995
<INVESTMENTS-AT-COST> 21,364,993
<INVESTMENTS-AT-VALUE> 22,298,226
<RECEIVABLES> 305,667
<ASSETS-OTHER> 78,448
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 22,682,341
<PAYABLE-FOR-SECURITIES> 190,298
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 8,761
<TOTAL-LIABILITIES> 199,059
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 20,965,848
<SHARES-COMMON-STOCK> 401,383
<SHARES-COMMON-PRIOR> 170,737
<ACCUMULATED-NII-CURRENT> 150,313
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 287,532
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,079,589
<NET-ASSETS> 4,324,354
<DIVIDEND-INCOME> 112,973
<INTEREST-INCOME> 334,302
<OTHER-INCOME> 0
<EXPENSES-NET> 106,804
<NET-INVESTMENT-INCOME> 340,471
<REALIZED-GAINS-CURRENT> 254,802
<APPREC-INCREASE-CURRENT> 1,645,975
<NET-CHANGE-FROM-OPS> 2,241,248
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 28,797
<DISTRIBUTIONS-OF-GAINS> 3,092
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 269,145
<NUMBER-OF-SHARES-REDEEMED> 40,356
<SHARES-REINVESTED> 1,857
<NET-CHANGE-IN-ASSETS> 5,114,527
<ACCUMULATED-NII-PRIOR> 120,335
<ACCUMULATED-GAINS-PRIOR> 63,908
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 72,462
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 262,748
<AVERAGE-NET-ASSETS> 19,543,520
<PER-SHARE-NAV-BEGIN> 9.800
<PER-SHARE-NII> 0.150
<PER-SHARE-GAIN-APPREC> 0.980
<PER-SHARE-DIVIDEND> 0.140
<PER-SHARE-DISTRIBUTIONS> 0.020
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.770
<EXPENSE-RATIO> 175
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 2
<NAME> Managed Series Trust
Federated Managed Aggressive Growth Fund
Institutional Shares
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Nov-30-1995
<PERIOD-END> May-31-1995
<INVESTMENTS-AT-COST> 21,364,993
<INVESTMENTS-AT-VALUE> 22,298,226
<RECEIVABLES> 305,667
<ASSETS-OTHER> 78,448
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 22,682,341
<PAYABLE-FOR-SECURITIES> 190,298
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 8,761
<TOTAL-LIABILITIES> 199,059
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 20,965,848
<SHARES-COMMON-STOCK> 1,681,952
<SHARES-COMMON-PRIOR> 1,597,720
<ACCUMULATED-NII-CURRENT> 150,313
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 287,532
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,079,589
<NET-ASSETS> 18,158,928
<DIVIDEND-INCOME> 112,973
<INTEREST-INCOME> 334,302
<OTHER-INCOME> 0
<EXPENSES-NET> 106,804
<NET-INVESTMENT-INCOME> 340,471
<REALIZED-GAINS-CURRENT> 254,802
<APPREC-INCREASE-CURRENT> 1,645,975
<NET-CHANGE-FROM-OPS> 2,241,248
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 281,696
<DISTRIBUTIONS-OF-GAINS> 28,086
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 596,046
<NUMBER-OF-SHARES-REDEEMED> 532,317
<SHARES-REINVESTED> 20,503
<NET-CHANGE-IN-ASSETS> 5,114,527
<ACCUMULATED-NII-PRIOR> 120,335
<ACCUMULATED-GAINS-PRIOR> 63,908
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 72,462
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 262,748
<AVERAGE-NET-ASSETS> 19,543,520
<PER-SHARE-NAV-BEGIN> 9.820
<PER-SHARE-NII> 0.190
<PER-SHARE-GAIN-APPREC> 0.990
<PER-SHARE-DIVIDEND> 0.180
<PER-SHARE-DISTRIBUTIONS> 0.020
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.800
<EXPENSE-RATIO> 100
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 3
<NAME> Managed Series Trust
Federated Managed Growth Fund
Institutional Shares
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Nov-30-1995
<PERIOD-END> May-31-1995
<INVESTMENTS-AT-COST> 53,662,088
<INVESTMENTS-AT-VALUE> 55,950,888
<RECEIVABLES> 875,062
<ASSETS-OTHER> 52,465
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 56,878,415
<PAYABLE-FOR-SECURITIES> 425,754
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 8,495
<TOTAL-LIABILITIES> 434,249
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 52,648,939
<SHARES-COMMON-STOCK> 4,366,143
<SHARES-COMMON-PRIOR> 2,950,782
<ACCUMULATED-NII-CURRENT> 506,944
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 503,315
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,784,968
<NET-ASSETS> 47,302,119
<DIVIDEND-INCOME> 200,331
<INTEREST-INCOME> 977,494
<OTHER-INCOME> 0
<EXPENSES-NET> 229,403
<NET-INVESTMENT-INCOME> 948,422
<REALIZED-GAINS-CURRENT> 565,151
<APPREC-INCREASE-CURRENT> 3,660,415
<NET-CHANGE-FROM-OPS> 5,173,988
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 624,232
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,747,422
<NUMBER-OF-SHARES-REDEEMED> 363,940
<SHARES-REINVESTED> 31,880
<NET-CHANGE-IN-ASSETS> 24,519,003
<ACCUMULATED-NII-PRIOR> 252,009
<ACCUMULATED-GAINS-PRIOR> (61,697)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 156,474
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 385,489
<AVERAGE-NET-ASSETS> 42,288,291
<PER-SHARE-NAV-BEGIN> 9.820
<PER-SHARE-NII> 0.220
<PER-SHARE-GAIN-APPREC> 0.990
<PER-SHARE-DIVIDEND> 0.200
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.830
<EXPENSE-RATIO> 100
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 4
<NAME> Managed Series Trust
Federated Managed Growth Fund
Select Shares
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Nov-30-1995
<PERIOD-END> May-31-1995
<INVESTMENTS-AT-COST> 53,662,088
<INVESTMENTS-AT-VALUE> 55,950,888
<RECEIVABLES> 875,062
<ASSETS-OTHER> 52,465
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 56,878,415
<PAYABLE-FOR-SECURITIES> 425,754
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 8,495
<TOTAL-LIABILITIES> 434,249
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 52,648,939
<SHARES-COMMON-STOCK> 845,074
<SHARES-COMMON-PRIOR> 301,010
<ACCUMULATED-NII-CURRENT> 506,944
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 503,315
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,784,968
<NET-ASSETS> 9,142,047
<DIVIDEND-INCOME> 200,331
<INTEREST-INCOME> 977,494
<OTHER-INCOME> 0
<EXPENSES-NET> 229,403
<NET-INVESTMENT-INCOME> 948,422
<REALIZED-GAINS-CURRENT> 565,151
<APPREC-INCREASE-CURRENT> 3,660,415
<NET-CHANGE-FROM-OPS> 5,173,988
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 69,394
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 645,032
<NUMBER-OF-SHARES-REDEEMED> 106,343
<SHARES-REINVESTED> 5,374
<NET-CHANGE-IN-ASSETS> 24,519,003
<ACCUMULATED-NII-PRIOR> 252,009
<ACCUMULATED-GAINS-PRIOR> (61,697)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 156,474
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 385,489
<AVERAGE-NET-ASSETS> 42,288,291
<PER-SHARE-NAV-BEGIN> 9.810
<PER-SHARE-NII> 0.180
<PER-SHARE-GAIN-APPREC> 0.990
<PER-SHARE-DIVIDEND> 0.160
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.820
<EXPENSE-RATIO> 175
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 5
<NAME> Managed Series Trust
Federated Managed Growth and Income Fund
Select Shares
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Nov-30-1995
<PERIOD-END> May-31-1995
<INVESTMENTS-AT-COST> 74,122,629
<INVESTMENTS-AT-VALUE> 76,825,130
<RECEIVABLES> 754,289
<ASSETS-OTHER> 55,133
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 77,634,552
<PAYABLE-FOR-SECURITIES> 794,415
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 16,672
<TOTAL-LIABILITIES> 811,087
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 72,471,303
<SHARES-COMMON-STOCK> 896,137
<SHARES-COMMON-PRIOR> 376,032
<ACCUMULATED-NII-CURRENT> 798,153
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 556,680
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,997,329
<NET-ASSETS> 9,547,093
<DIVIDEND-INCOME> 269,311
<INTEREST-INCOME> 1,644,343
<OTHER-INCOME> 0
<EXPENSES-NET> 319,187
<NET-INVESTMENT-INCOME> 1,594,467
<REALIZED-GAINS-CURRENT> 1,005,351
<APPREC-INCREASE-CURRENT> 3,853,690
<NET-CHANGE-FROM-OPS> 6,453,508
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 109,619
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 572,711
<NUMBER-OF-SHARES-REDEEMED> 60,000
<SHARES-REINVESTED> 7,394
<NET-CHANGE-IN-ASSETS> 29,333,187
<ACCUMULATED-NII-PRIOR> 455,224
<ACCUMULATED-GAINS-PRIOR> (447,919)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 221,565
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 456,023
<AVERAGE-NET-ASSETS> 59,114,916
<PER-SHARE-NAV-BEGIN> 9.830
<PER-SHARE-NII> 0.210
<PER-SHARE-GAIN-APPREC> 0.820
<PER-SHARE-DIVIDEND> 0.210
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.650
<EXPENSE-RATIO> 175
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 6
<NAME> Managed Series Trust
Federated Managed Growth and Income Fund
Institutional Shares
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Nov-30-1995
<PERIOD-END> May-31-1995
<INVESTMENTS-AT-COST> 74,122,629
<INVESTMENTS-AT-VALUE> 76,825,130
<RECEIVABLES> 754,289
<ASSETS-OTHER> 55,133
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 77,634,552
<PAYABLE-FOR-SECURITIES> 794,415
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 16,672
<TOTAL-LIABILITIES> 811,087
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 72,471,303
<SHARES-COMMON-STOCK> 6,303,361
<SHARES-COMMON-PRIOR> 4,447,084
<ACCUMULATED-NII-CURRENT> 798,153
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 556,680
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,997,329
<NET-ASSETS> 67,276,372
<DIVIDEND-INCOME> 269,311
<INTEREST-INCOME> 1,644,343
<OTHER-INCOME> 0
<EXPENSES-NET> 319,187
<NET-INVESTMENT-INCOME> 1,594,467
<REALIZED-GAINS-CURRENT> 1,005,351
<APPREC-INCREASE-CURRENT> 3,853,690
<NET-CHANGE-FROM-OPS> 6,453,508
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,142,671
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,529,641
<NUMBER-OF-SHARES-REDEEMED> 725,699
<SHARES-REINVESTED> 52,335
<NET-CHANGE-IN-ASSETS> 29,333,187
<ACCUMULATED-NII-PRIOR> 455,224
<ACCUMULATED-GAINS-PRIOR> (447,919)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 221,565
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 456,023
<AVERAGE-NET-ASSETS> 59,114,916
<PER-SHARE-NAV-BEGIN> 9.850
<PER-SHARE-NII> 0.260
<PER-SHARE-GAIN-APPREC> 0.810
<PER-SHARE-DIVIDEND> 0.250
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.670
<EXPENSE-RATIO> 100
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 7
<NAME> Managed Series Trust
Federated Managed Income Fund
Select Shares
<PERIOD-TYPE> 6-Mos
<FISCAL-YEAR-END> Nov-30-1995
<PERIOD-END> May-31-1995
<INVESTMENTS-AT-COST> 63,762,055
<INVESTMENTS-AT-VALUE> 65,145,529
<RECEIVABLES> 364,469
<ASSETS-OTHER> 43,769
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 65,553,767
<PAYABLE-FOR-SECURITIES> 20,329,361
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 18,130
<TOTAL-LIABILITIES> 20,347,491
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 43,620,263
<SHARES-COMMON-STOCK> 677,248
<SHARES-COMMON-PRIOR> 327,436
<ACCUMULATED-NII-CURRENT> 40,223
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 159,733
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,386,057
<NET-ASSETS> 7,015,993
<DIVIDEND-INCOME> 98,072
<INTEREST-INCOME> 1,298,028
<OTHER-INCOME> 0
<EXPENSES-NET> 171,202
<NET-INVESTMENT-INCOME> 1,224,898
<REALIZED-GAINS-CURRENT> 489,125
<APPREC-INCREASE-CURRENT> 1,995,520
<NET-CHANGE-FROM-OPS> 3,709,543
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 124,491
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 436,256
<NUMBER-OF-SHARES-REDEEMED> 90,929
<SHARES-REINVESTED> 4,485
<NET-CHANGE-IN-ASSETS> 7,316,363
<ACCUMULATED-NII-PRIOR> 45,969
<ACCUMULATED-GAINS-PRIOR> (329,392)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 153,307
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 368,208
<AVERAGE-NET-ASSETS> 41,102,813
<PER-SHARE-NAV-BEGIN> 9.770
<PER-SHARE-NII> 0.270
<PER-SHARE-GAIN-APPREC> 0.590
<PER-SHARE-DIVIDEND> 0.270
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.360
<EXPENSE-RATIO> 150
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 8
<NAME> Managed Series Trust
Federated Managed Income Fund
Institutional Shares
<PERIOD-TYPE> 6-Mos
<FISCAL-YEAR-END> Nov-30-1995
<PERIOD-END> May-31-1995
<INVESTMENTS-AT-COST> 63,762,055
<INVESTMENTS-AT-VALUE> 65,145,529
<RECEIVABLES> 364,469
<ASSETS-OTHER> 43,769
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 65,553,767
<PAYABLE-FOR-SECURITIES> 20,329,361
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 18,130
<TOTAL-LIABILITIES> 20,347,491
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 43,620,263
<SHARES-COMMON-STOCK> 3,686,834
<SHARES-COMMON-PRIOR> 3,552,816
<ACCUMULATED-NII-CURRENT> 40,223
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 159,733
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,386,057
<NET-ASSETS> 38,190,283
<DIVIDEND-INCOME> 98,072
<INTEREST-INCOME> 1,298,028
<OTHER-INCOME> 0
<EXPENSES-NET> 171,202
<NET-INVESTMENT-INCOME> 1,224,898
<REALIZED-GAINS-CURRENT> 489,125
<APPREC-INCREASE-CURRENT> 1,995,520
<NET-CHANGE-FROM-OPS> 3,709,543
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,097,454
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 8,699
<NUMBER-OF-SHARES-SOLD> 795,930
<NUMBER-OF-SHARES-REDEEMED> 693,179
<SHARES-REINVESTED> 31,267
<NET-CHANGE-IN-ASSETS> 7,316,363
<ACCUMULATED-NII-PRIOR> 45,969
<ACCUMULATED-GAINS-PRIOR> (329,392)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 153,307
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 368,208
<AVERAGE-NET-ASSETS> 41,102,813
<PER-SHARE-NAV-BEGIN> 9.760
<PER-SHARE-NII> 0.310
<PER-SHARE-GAIN-APPREC> 0.600
<PER-SHARE-DIVIDEND> 0.310
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.360
<EXPENSE-RATIO> 75
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
