WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial data extracted from the semiannual
report dated April 30, 2000 for the J.P. Morgan Institutional Tax Aware Enhanced Income Fund
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> OCT-30-2000
<PERIOD-END> APR-30-2000
<INVESTMENTS-AT-COST> 291635
<INVESTMENTS-AT-VALUE> 290621
<RECEIVABLES> 4648
<ASSETS-OTHER> 18223
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 313492
<PAYABLE-FOR-SECURITIES> 5048
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 349
<TOTAL-LIABILITIES> 5397
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 310142
<SHARES-COMMON-STOCK> 140900
<SHARES-COMMON-PRIOR> 178636
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1033)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1014)
<NET-ASSETS> 308095
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 8154
<OTHER-INCOME> 0
<EXPENSES-NET> 491
<NET-INVESTMENT-INCOME> 7663
<REALIZED-GAINS-CURRENT> (585)
<APPREC-INCREASE-CURRENT> 84
<NET-CHANGE-FROM-OPS> 7162
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 7056
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 74165
<NUMBER-OF-SHARES-REDEEMED> 114603
<SHARES-REINVESTED> 2702
<NET-CHANGE-IN-ASSETS> (74450)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (447)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 453
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 885
<AVERAGE-NET-ASSETS> 333980
<PER-SHARE-NAV-BEGIN> 1.99
<PER-SHARE-NII> 0.04
<PER-SHARE-GAIN-APPREC> (0.01)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (0.04)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.98
<EXPENSE-RATIO> 0.25
</TABLE>