N-CSR Item 10 - Exhibits: Certifications EX-99.906CERT

                            SECTION 906 CERTIFICATION

Pursuant to 18 U.S.C.ss.  1350, the  undersigned  officers of Federated  Managed
Allocation   Portfolio  on  behalf  of  Federated  Managed  Conservative  Growth
Portfolio,   Federated  Managed  Growth  Portfolio,   Federated  Managed  Income
Portfolio,  Federated  Managed  Moderate  Growth  Portfolio (the  "Registrant"),
hereby certify,  to the best of our knowledge,  that the Registrant's  Report on
Form N-CSR for the period ended 5/31/03 (the  "Report")  fully complies with the
requirements  of Section 13(a) or 15(d),  as  applicable,  of the Securities and
Exchange Act of 1934 and that the  information  contained  in the Report  fairly
presents,  in all material  respects,  the  financial  condition  and results of
operations of the Registrant.


Dated: July 28, 2003

/s/ J. Christopher Donahue

Title: President, Principal Executive Officer



Dated: July 28, 2003

/s/ Richard J. Thomas

Title: Treasurer, Principal Financial Officer

This certification is being furnished solely pursuant to 18 U.S.C.ss. 1350 and
is not being filed as part of the Report or as a separate disclosure document.