N-CSR Item 12(b) - Exhibits:
Certifications

                            SECTION 906 CERTIFICATION

Pursuant to 18 U.S.C.ss.  1350, the  undersigned  officers of Federated  Managed
Allocation Portfolios on behalf of Federated Balanced Allocation Fund, Federated
Conservative  Allocation  Fund,  Federated  Growth  Allocation  Fund,  Federated
Moderate Allocation Fund,  Federated Target ETF Fund 2015,  Federated Target ETF
Fund 2025, Federated Target ETF Fund 2035 (the "Registrant"), hereby certify, to
the best of our knowledge,  that the  Registrant's  Report on Form N-CSR for the
period ended May 31, 2006 (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 25, 2006

/s/ J. Christopher Donahue
Name:  J. Christopher Donahue
Title: President, Principal Executive Officer



Dated: July 25, 2006

/s/ Richard A. Novak
Name:  Richard A. Novak
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.