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The JPM Institutional Funds
Supplement dated May 20, 1997 to the Statement of Additional Information dated
April 30, 1997
(Supersedes May 12, 1997 Statement of Additional Information Supplement)
The following Funds have changed their respective names:
From To
The JPM Institutional Money Market The JPM Institutional Prime Money
Fund Market Fund
The JPM Institutional Selected U.S. The JPM Institutional U.S. Equity Fund
Equity Fund
The names of the Portfolios corresponding to these Funds changed accordingly.
The Portfolio corresponding to the International Equity Fund has also changed
its name to The International Equity Portfolio.
The paragraph entitled "Additional U.S. Government Obligations" under the
section "Money Market Instruments" is replaced with the following:
Additional U.S. Government Obligations. Each of the Funds may invest in
obligations issued or guaranteed by U.S. Government agencies or
instrumentalities. These obligations may or may not be backed by the "full faith
and credit" of the United States. Securities which are backed by the full faith
and credit of the United States include obligations of the Government National
Mortgage Association, the Farmers Home Administration, and the Export-Import
Bank. In the case of securities not backed by the full faith and credit of the
United States, each Fund must look principally to the federal agency issuing or
guaranteeing the obligation for ultimate repayment and may not be able to assert
a claim against the United States itself in the event the agency or
instrumentality does not meet its commitments. Securities in which each Fund may
invest that are not backed by the full faith and credit of the United States
include, but are not limited to: (i) obligations of the Tennessee Valley
Authority, the Federal Home Loan Mortgage Corporation, the Federal Home Loan
Banks and the U.S. Postal Service, each of which has the right to borrow from
the U.S. Treasury to meet its obligations; (ii) securities issued by the Federal
National Mortgage Association, which are supported by the discretionary
authority of the U.S. Government to purchase the agency's obligations; and (iii)
obligations of the Federal Farm Credit System and the Student Loan Marketing
Association, each of whose obligations may be satisfied only by the individual
credits of the issuing agency.
