<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial data extracted from the semiannual
report dated October 31, 2000 for the J.P. Morgan California Bond Fund: Select
Shares and is qualified in its entirety by reference to such semiannual report.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> APR-30-2000
<PERIOD-END> OCT-31-2000
<INVESTMENTS-AT-COST> 136630
<INVESTMENTS-AT-VALUE> 139502
<RECEIVABLES> 2569
<ASSETS-OTHER> 9
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 142080
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 547
<TOTAL-LIABILITIES> 547
<SENIOR-EQUITY> 141533
<PAID-IN-CAPITAL-COMMON> 139621
<SHARES-COMMON-STOCK> 2379
<SHARES-COMMON-PRIOR> 1354
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (58)
<ACCUMULATED-NET-GAINS> (901)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2871
<NET-ASSETS> 141533
<DIVIDEND-INCOME> 127
<INTEREST-INCOME> 2819
<OTHER-INCOME> 0
<EXPENSES-NET> 309
<NET-INVESTMENT-INCOME> 2637
<REALIZED-GAINS-CURRENT> 99
<APPREC-INCREASE-CURRENT> 3129
<NET-CHANGE-FROM-OPS> 5865
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2677
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1255
<NUMBER-OF-SHARES-REDEEMED> 248
<SHARES-REINVESTED> 17
<NET-CHANGE-IN-ASSETS> 43142
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (999)
<OVERDISTRIB-NII-PRIOR> (19)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 170
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 366
<AVERAGE-NET-ASSETS> 18096
<PER-SHARE-NAV-BEGIN> 10.20
<PER-SHARE-NII> 0.23
<PER-SHARE-GAIN-APPREC> 0.29
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (0.23)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.49
<EXPENSE-RATIO> 0.65
</TABLE>