000 A000000 12/31/95
000 C000000 0000894088
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
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 C010700 7
007 C010800 8
007 C010900 9
007 C020900 THE JPM INSTITUTIONAL DIVERSIFIED FUND
007 C030900 N
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
007 C012100 21
007 C012200 22
007 C012300 23
007 C012400 24
007 C012500 25
007 C012600 26
007 C012700 27
007 C012800 28
007 C012900 29
007 C013000 30
007 C013100 31
007 C013200 32
007 C013300 33
007 C013400 34
007 C013500 35
007 C013600 36
007 C013700 37
007 C013800 38
007 C013900 39
007 C014000 40
007 C014100 41
007 C014200 42
007 C014300 43
007 C014400 44
007 C014500 45
007 C014600 46
007 C014700 47
007 C014800 48
007 C014900 49
007 C015000 50
010 A00AA01 SIGNATURE BROKER DEALER SERVICES INC.
010 C01AA01 BOSTON
010 C02AA01 MA
010 C03AA01 02116
011 A00AA01 SIGNATURE BROKER DEALER SERVICES INC.
011 B00AA01 8-41134
011 C01AA01 BOSTON
011 C02AA01 MA
011 C03AA01 02116
012 A00AA01 STATE STREET BANK & TRUST
012 B00AA01 85-50003
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02101
013 A00AA01 PRICE WATERHOUSE LLP
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10036
014 A00AA01 JP MORGAN SECURITIES
014 B00AA01 8-99999999
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 53
019 C00AA00 JPM\PIERPO
020 A000001 NONE
020 C000001 0
020 C000002 0
020 C000003 0
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 DIVERSIFIED PORTFOLIO
022 B000001 04-3194478
022 C000001 26712
022 D000001 61305
022 C000002 0
022 D000002 0
022 C000003 0
022 D000003 0
022 C000004 0
022 D000004 0
022 C000005 0
022 D000005 0
022 C000006 0
022 D000006 0
022 C000007 0
022 D000007 0
022 C000008 0
022 D000008 0
022 C000009 0
022 D000009 0
022 C000010 0
022 D000010 0
023 C000000 26712
023 D000000 61305
024 00AA00 N
025 D00AA01 0
025 D00AA02 0
025 D00AA03 0
025 D00AA04 0
025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 Y
027 000000 Y
029 00AA00 N
030 A00AA00 0
030 B00AA00 0.00
030 C00AA00 0.00
031 A00AA00 0
031 B00AA00 0
032 00AA00 0
033 00AA00 0
034 00AA00 N
035 00AA00 0
036 B00AA00 0
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 N
041 00AA00 N
042 A00AA00 0
042 B00AA00 0
042 C00AA00 0
042 D00AA00 0
042 E00AA00 0
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
043 00AA00 0
044 00AA00 0
045 00AA00 N
048 00AA00 0.000
048 A01AA00 0
048 A02AA00 0.000
048 B01AA00 0
048 B02AA00 0.000
048 C01AA00 0
048 C02AA00 0.000
048 D01AA00 0
048 D02AA00 0.000
048 E01AA00 0
048 E02AA00 0.000
048 F01AA00 0
048 F02AA00 0.000
048 G01AA00 0
048 G02AA00 0.000
048 H01AA00 0
048 H02AA00 0.000
048 I01AA00 0
048 I02AA00 0.000
048 J01AA00 0
048 J02AA00 0.000
048 K01AA00 0
048 K02AA00 0.000
062 A00AA00 N
062 B00AA00 0.0
062 C00AA00 0.0
062 D00AA00 0.0
062 E00AA00 0.0
062 F00AA00 0.0
062 G00AA00 0.0
062 H00AA00 0.0
062 I00AA00 0.0
062 J00AA00 0.0
062 K00AA00 0.0
062 L00AA00 0.0
062 M00AA00 0.0
062 N00AA00 0.0
062 O00AA00 0.0
062 P00AA00 0.0
062 Q00AA00 0.0
062 R00AA00 0.0
066 A00AA00 N
067 00AA00 Y
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
070 A01AA00 Y
070 A02AA00 N
070 B01AA00 Y
070 B02AA00 N
070 C01AA00 Y
070 C02AA00 N
070 D01AA00 Y
070 D02AA00 N
070 E01AA00 Y
070 E02AA00 N
070 F01AA00 Y
070 F02AA00 N
070 G01AA00 Y
070 G02AA00 N
070 H01AA00 Y
070 H02AA00 N
070 I01AA00 Y
070 I02AA00 N
070 J01AA00 N
070 J02AA00 N
070 K01AA00 Y
070 K02AA00 Y
070 L01AA00 Y
070 L02AA00 N
070 M01AA00 Y
070 M02AA00 N
070 N01AA00 Y
070 N02AA00 N
070 O01AA00 Y
070 O02AA00 N
070 P01AA00 Y
070 P02AA00 N
070 Q01AA00 N
070 Q02AA00 N
070 R01AA00 N
070 R02AA00 N
077 A000000 N
078 000000 N
080 A00AA00 CHUBB INSURANCE GROUP
080 C00AA00 25000
081 B00AA00 38
082 B00AA00 25
083 B00AA00 0
084 B00AA00 0
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
072 Y000800 121
072 Z000800 2738
072AA000800 9053
072BB000800 0
072CC010800 5657
072CC020800 0
072DD010800 5653
072DD020800 0
072EE000800 8399
073 A010800 0.4200
073 A020800 0.0000
073 B000800 0.6400
073 C000800 0.0000
028 A010900 2251
028 A020900 0
028 A030900 0
028 A040900 1855
028 B010900 3338
028 B020900 0
028 B030900 0
028 B040900 878
028 C010900 5338
028 C020900 5685
028 C030900 0
028 C040900 2313
028 D010900 3675
028 D020900 0
028 D030900 0
028 D040900 30020
028 E010900 3907
028 E020900 0
028 E030900 0
028 E040900 363
028 F010900 8436
028 F020900 8187
028 F030900 0
028 F040900 26606
028 G010900 26945
028 G020900 13872
028 G030900 0
028 G040900 62035
028 H000900 0
055 A000900 N
055 B000900 N
056 000900 Y
057 000900 N
058 A000900 N
058 B000900 N
058 C000900 N
058 D000900 N
058 E000900 N
059 000900 Y
060 A000900 Y
060 B000900 Y
061 000900 3000000
071 A000900 0
071 B000900 0
071 C000900 0
071 D000900 0
072 A000900 6
072 B000900 0
072 C000900 0
072 D000900 0
072 E000900 2738
072 F000900 0
072 G000900 21
072 H000900 0
072 I000900 51
072 J000900 0
072 K000900 0
072 L000900 11
072 M000900 2
072 N000900 17
072 O000900 0
072 P000900 0
072 Q000900 6
072 R000900 0
072 S000900 0
072 T000900 0
072 U000900 5
072 V000900 0
072 W000900 8
072 X000900 121
072 Y000900 121
072 Z000900 2738
072AA000900 9053
072BB000900 0
072CC010900 5657
072CC020900 0
072DD010900 5653
072DD020900 0
072EE000900 8399
073 A010900 0.4200
073 A020900 0.0000
073 B000900 0.6400
073 C000900 0.0000
074 A000900 0
074 B000900 0
074 C000900 0
074 D000900 0
074 E000900 0
074 F000900 0
074 G000900 0
074 H000900 0
074 I000900 147524
074 J000900 0
074 K000900 13
074 L000900 390
074 M000900 27
074 N000900 147954
074 O000900 0
074 P000900 7
074 Q000900 0
074 R010900 0
074 R020900 0
074 R030900 0
074 R040900 914
074 S000900 0
074 T000900 147033
074 U010900 12878
074 U020900 0
074 V010900 11.42
074 V020900 0.00
074 W000900 0.0000
074 X000900 26
074 Y000900 0
075 A000900 0
075 B000900 164011
076 000900 0.00
SIGNATURE DANIEL E. SHEA
TITLE ASSISTANT TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary information extracted from The JPM Institutional
Diversified Fund Semiannual Report dated December 31, 1995 and is qualified
in its entirety by reference to such Semiannual Report.
</LEGEND>
<CIK> 0000894088
<NAME> THE JPM INSTITUTIONAL FUNDS
<SERIES>
<NUMBER> 9
<NAME> THE JPM INSTITUTIONAL DIVERSIFIED FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1996
<PERIOD-START> JUL-01-1995
<PERIOD-END> DEC-31-1995
<INVESTMENTS-AT-COST> 130,782,372
<INVESTMENTS-AT-VALUE> 147,524,320
<RECEIVABLES> 403,253
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 27,011
<TOTAL-ASSETS> 147,954,584
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 921,368
<TOTAL-LIABILITIES> 921,368
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 127,120,711
<SHARES-COMMON-STOCK> 12,878,397
<SHARES-COMMON-PRIOR> 14,642,108
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 543,263
<ACCUMULATED-NET-GAINS> 3,713,820
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 16,741,948
<NET-ASSETS> 147,033,216
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 0
<OTHER-INCOME> 2,738,050
<EXPENSES-NET> 192
<NET-INVESTMENT-INCOME> 2,737,858
<REALIZED-GAINS-CURRENT> 9,052,569
<APPREC-INCREASE-CURRENT> 5,656,913
<NET-CHANGE-FROM-OPS> 17,447,340
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 5,652,711
<DISTRIBUTIONS-OF-GAINS> 8,398,968
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,270,197
<NUMBER-OF-SHARES-REDEEMED> 5,215,953
<SHARES-REINVESTED> 1,224,447
<NET-CHANGE-IN-ASSETS> (17,821,635)
<ACCUMULATED-NII-PRIOR> 2,371,590
<ACCUMULATED-GAINS-PRIOR> 3,060,219
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 121,077
<AVERAGE-NET-ASSETS> 164,011,169
<PER-SHARE-NAV-BEGIN> 11.26
<PER-SHARE-NII> 0.62
<PER-SHARE-GAIN-APPREC> 0.60
<PER-SHARE-DIVIDEND> 0.42
<PER-SHARE-DISTRIBUTIONS> 0.64
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.42
<EXPENSE-RATIO> 0.65
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
