24F-2NT

                              Rule 24f-2 Notice

                               TRADEMARK FUNDS

                                 (Fund Name)


                          Federated Investors Tower
                     Pittsburgh, Pennsylvania 15222-3779

                            1933 Act No. 33-49201


   (i) fiscal period for which notice is filed January 31, 1995

  (ii) The number or amount of securities of the
       same class or series, if any, which had
       been registered under the Securities Act
       of 1933, other than pursuant to Rule 24f-2
       but which remained unsold at February 1, 1994,
       the beginning of the Registrant's fiscal
       period                                             -0-

 (iii) The number or amount of securities, if
       any, registered during the fiscal period
       of this notice other than pursuant to
       Rule 24f-2                                         -0-           -0-

  (iv) The number or amount of securities
       sold during the fiscal period of this
       notice                                                     7,098,495

  (v)  The number or amount of securities sold
       during the fiscal period of this notice
       in reliance upon registration pursuant
       to Rule 24f-2 (see attached Computation
       of Fee)
      7,098,495


      WITNESS the due execution hereof this 15th day of March, 1995.



                                    By:   /s/ C. Grant Anderson
                                       Fund Attorney
                                       Secretary

                             COMPUTATION OF FEE


1. Actual aggregate sale price of Registrant's
   securities sold pursuant to Rule 24f-2 during
   the fiscal period for which the 24f-2 notice
   is filed (see Section v)                                  $70,180,253

2. Reduced by the difference between:

   (a) actual aggregate redemption price
       of such securities redeemed by the
       issuer during the fiscal period for
       which the 24f-2 notice is filed       $402,987,996

   (b) actual aggregate redemption price
       of such redeemed securities
       previously applied by the issuer
       pursuant to Section 24e(2)(a) for
       the fiscal period for which the
       24f-2 notice is filed                           -0-    402,987,996


Total amount upon which the fee calculation specified
in Section 6(b) of the Securities Act of 1933 is
based                                                       $ (332,807,743)


   FEE SUBMITTED (1/29 of 1% of Total amount)               $           -0-



                      CONVERSION OF NET REDEMPTIONS ON
                         RULE 24f-2 NOTICE TO FILING
                              UNDER RULE 24e-2


When a negative amount appears on the line captioned "Total amount upon
which the fee calculated specified in Section 6(b) of the Securities Act of
1933 is based", the following calculation should be made to determine the
share information needed to file under Rule 24e-2:


Total redemptions (per annual report)         41,848,220
Less:  Line (v) - Rule 24f-2 Notice            7,098,495
Shares available to register under
      Rule 24e-2                              34,749,725(a)

Fund's Current Net Asset Value               $     -0-  (b)

Multiply:  Shares available to register
under Rule 24e-2 by the fund's current
net asset value (a x b) to obtain Proposed
Maximum Aggregate Offering Price             $      -0-

EX-99.OPINIONLETTER

   Federated Administrative
                Services

                                                   FEDERATED INVESTORS TOWER
                                                   PITTSBURGH, PA 15222-3779
                                                   412-288-1900
                                                   March 15, 1995


Trademark Funds
Federated Investors Tower
Pittsburgh, PA  15222-3779

Gentlemen:

      You have requested my opinion for use in conjunction with a Rule 24f-2
Notice for Trademark Funds ("Trust") to be filed in respect of shares of the
Trust ("Shares") sold for the fiscal year ended January 31, 1995, pursuant to
the Trust's registration statement filed with the Securities and Exchange
Commission ("SEC") under the Securities Act of 1933 (File No. 33-49201)
("Registration Statement").

      In its Registration Statement, the Trust elected to register an
indefinite number of shares pursuant to the provisions of Investment Company
Act Rule 24f-2.

      As counsel I have participated in the preparation and filing of the
Trust's amended Registration Statement under the Securities Act of 1933.
Further, I have examined and am familiar with the provisions of the
Declaration of Trust dated
August 6, 1992 ("Declaration of Trust"), the Bylaws of the Trust and such
other documents and records deemed relevant. I have also reviewed questions of
law and consulted with counsel thereon as deemed necessary or appropriate by
me for the purposes of this opinion.

      On the basis of the foregoing, it is my opinion the Shares sold for the
fiscal year ended January 31, 1995, registration of which the Rule 24f-2
Notice makes definite in number, were legally issued, fully paid and non-
assessable by the Trust.

      I hereby consent to the filing of this opinion as an exhibit to the Rule
24f-2 Notice referred to above, the Registration Statement of the Trust and to
any application or registration statement filed under the securities laws of
any of the States of the United States.

                                          Very truly yours,

                                          /s/C. Grant Anderson
                                          C. Grant Anderson
                                          Secretary