WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK>
<NAME> Federated Managed Allocation Portfolios
<SERIES>
<NUMBER> 021
<NAME> Federated Managed Conservative Growth Portfolio - Institutional Shares
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Nov-30-2000
<PERIOD-END> May-31-2000
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<SHARES-COMMON-PRIOR> 12,859,113
<ACCUMULATED-NII-CURRENT> 756,684
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<DISTRIBUTIONS-OF-INCOME> (2,836,976)
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<NUMBER-OF-SHARES-REDEEMED> (3,180,693)
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<NET-CHANGE-IN-ASSETS> (12,842,289)
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[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.000
</TABLE>
