CONSENT OF INDEPENDENT ACCOUNTANTS
We hereby consent to the incorporation by reference in this Registration
Statement on Form N-1A of our reports dated December 15, 1999, relating to the
financial statements and financial highlights which appear in the October 31,
1999 Annual Reports to Trustees and Shareholders of J.P. Morgan Institutional
Tax Aware Disciplined Equity Fund and J.P. Morgan Tax Aware U.S. Equity Fund,
which are also incorporated by reference into the Registration Statement.
We hereby consent to the incorporation by reference in this Registration
Statement on Form N-1A of our reports dated July 14, 2000, relating to the
financial statements and financial highlights which appear in the May 31, 2000
Annual Reports to Trustees and Shareholders of J.P. Morgan Institutional
SmartIndex Fund, J.P. Morgan Institutional Large Cap Growth Fund and J.P. Morgan
Institutional Market Neutral Fund, which are also incorporated by reference into
the Registration Statement.
We also consent to the references to us under the headings "Independent
Accountants", "Financial Statements" and "Financial Highlights" in such
Registration Statement.
PricewaterhouseCoopers LLP
New York, New York
September 28, 2000
