<PAGE> PAGE 1
000 A000000 02/28/95
000 C000000 0000894088
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 THE JPM INSTITUTIONAL FUNDS
001 B000000 811-7342
001 C000000 6174230800
002 A000000 6 ST. JAMES AVENUE
002 B000000 BOSTON
002 C000000 MA
002 D010000 02116
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 13
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C020600 THE JPM INSTITUTIONAL TAX EXEMPT BOND FUND
007 C030600 N
007 C010700 7
007 C020700 THE JPM INSTITUTIONAL TAX EXEMPT MONEY MKT FD
007 C030700 N
007 C010800 8
007 C010900 9
007 C011000 10
007 C011100 11
007 C011200 12
007 C011300 13
007 C011400 14
007 C011500 15
007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
011 A00AA01 SIGNATURE BROKER DEALER SERVICES INC.
011 B00AA01 8-41134
011 C01AA01 BOSTON
011 C02AA01 MA
011 C03AA01 02116
<PAGE> PAGE 2
012 A00AA01 STATE STREET BANK
012 B00AA01 85-50003
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02101
013 A00AA01 PRICE WATERHOUSE
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10020
015 A00AA01 STATE STREET BANK & TRUST
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02101
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 38
019 C00AA00 PIERPONTXX
020 C000001 0
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020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 0
022 A000001 THE TAX EXEMPT BOND PORTFOLIO
022 B000001 04-3194405
022 C000001 35086
022 D000001 8593
022 A000002 THE TAX EXEMPT MONEY MARKET PORTFOLIO
022 B000002 04-3194418
022 C000002 140198
022 D000002 115311
022 C000003 0
022 D000003 0
022 C000004 0
022 D000004 0
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<PAGE> PAGE 3
022 D000009 0
022 C000010 0
022 D000010 0
023 C000000 175284
023 D000000 123904
024 00AA00 N
026 A000000 N
026 B000000 N
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<PAGE> PAGE 4
048 H01AA00 0
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048 I01AA00 0
048 I02AA00 0.000
048 J01AA00 0
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062 P00AA00 0.0
062 Q00AA00 0.0
062 R00AA00 0.0
066 A00AA00 N
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028 A010600 5868
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<PAGE> PAGE 5
028 A030600 0
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055 A000600 N
055 B000600 N
056 000600 Y
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070 A010600 Y
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070 D010600 N
070 D020600 N
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070 E020600 N
070 F010600 N
070 F020600 N
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<PAGE> PAGE 6
070 H020600 N
070 I010600 N
070 I020600 N
070 J010600 Y
070 J020600 N
070 K010600 Y
070 K020600 Y
070 L010600 Y
070 L020600 N
070 M010600 N
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072 B000600 720
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<PAGE> PAGE 7
072AA000600 0
072BB000600 105
072CC010600 599
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072DD010600 710
072DD020600 0
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073 A010600 0.2400
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028 A010700 104045
028 A020700 56
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028 B020700 213
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<PAGE> PAGE 8
028 B040700 37242
028 C010700 8939
028 C020700 268
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028 C040700 24069
028 D010700 13499
028 D020700 243
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028 F020700 239
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028 F040700 8448
028 G010700 140198
028 G020700 1289
028 G030700 0
028 G040700 115197
028 H000700 0
055 A000700 N
055 B000700 N
056 000700 Y
057 000700 N
058 A000700 N
059 000700 Y
060 A000700 Y
060 B000700 Y
061 000700 10000000
070 A010700 Y
070 A020700 N
070 B010700 N
070 B020700 N
070 C010700 N
070 C020700 N
070 D010700 N
070 D020700 N
070 E010700 N
070 E020700 N
070 F010700 N
070 F020700 N
070 G010700 N
070 G020700 N
070 H010700 N
070 H020700 N
070 I010700 N
070 I020700 N
070 J010700 N
070 J020700 N
<PAGE> PAGE 9
070 K010700 Y
070 K020700 Y
070 L010700 N
070 L020700 N
070 M010700 N
070 M020700 N
070 N010700 N
070 N020700 N
070 O010700 N
070 O020700 N
070 P010700 N
070 P020700 N
070 Q010700 N
070 Q020700 N
070 R010700 N
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<PAGE> PAGE 10
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076 000700 0.00
SIGNATURE KURT W BAUMGARTEN
TITLE ASSISTANT TREASURER
