J.P. Morgan Institutional Funds
J.P. Morgan Institutional Short Term Bond Fund
J.P. Morgan Institutional Bond Fund
Global Strategic Income Fund
Supplement dated July 27, 1998 to the Statement of Additional Information dated
March 2, 1998:
Effective August 1, 1998, the second paragraph under "Shareholder Servicing" is
replaced with the following:
Under the Shareholder Servicing Agreement, each Fund has agreed to pay Morgan
for these services a fee at an annual rate of 0.10% (expressed as a percentage
of the average daily net asset values of Fund shares owned by or for
shareholders for whom Morgan is acting as shareholder servicing agent). Morgan
acts as shareholder servicing agent for all shareholders.
