<PAGE> PAGE 1
000 A000000 05/31/99
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 J.P. MORGAN INSTITUTIONAL FUNDS
001 B000000 811-7342
001 C000000 6175570700
002 A000000 60 STATE STREET SUITE 1300
002 B000000 BOSTON
002 C000000 MA
002 D010000 02109
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 22
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 C011000 10
007 C011100 11
007 C011200 12
007 C011300 13
007 C021300 J.P. MORGAN INST PRIME MONEY MARKET FUND
007 C031300 N
007 C011400 14
007 C011500 15
007 C021500 J.P. MORGAN INSTITUTIONAL EUROPEAN EQUITY FD
007 C031500 N
007 C011600 16
007 C011700 17
007 C021700 J.P. MORGAN INSTITUTIONAL INT'L OPPORTUNITIES
007 C031700 N
007 C011800 18
007 C011900 19
007 C012000 20
007 C012100 21
007 C012200 22
007 C022200 J.P. MORGAN INST SERV PRIME MONEY MARKET FUND
<PAGE> PAGE 2
007 C032200 N
007 C012300 23
007 C012400 24
007 C012500 25
007 C012600 26
007 C012700 27
007 C012800 28
007 C012900 29
007 C013000 30
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<PAGE> PAGE 3
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010 A00AA01 FUNDS DISTRIBUTOR, INC.
010 B00AA01 8-420518
010 C01AA01 BOSTON
010 C02AA01 NY
010 C03AA01 02116
010 A00AA02 MORGAN GUARANTY TRUST COMPANY OF NEW YORK
010 B00AA02 8-49999999
010 C01AA02 NEW YORK
010 C02AA02 NY
010 C03AA02 10036
010 A00AA03 PIERPONT GROUP, INC.
010 C01AA03 NEW YORK
010 C02AA03 NY
010 C03AA03 10017
011 A00AA01 FUNDS DISTRIBUTOR, INC.
011 B00AA01 8-420518
011 C01AA01 BOSTON
011 C02AA01 MA
011 C03AA01 02116
012 A00AA01 STATE STREET BANK AND TRUST COMPANY
012 B00AA01 85-50003
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02101
012 A00AA02 MORGAN GUARANTY TRUST COMPANY OF NEW YORK
012 B00AA02 84-9999999
012 C01AA02 NEW YORK
012 C02AA02 NY
012 C03AA02 10036
013 A00AA01 PRICEWATERHOUSECOOPERS LLP
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10036
<PAGE> PAGE 4
014 A00AA01 FUNDS DISTRIBUTOR, INC.
014 B00AA01 8-420518
014 A00AA02 JP MORGAN SECURITIES, INC.
014 B00AA02 8-99999
014 A00AA03 JP MORGAN SECURITIES LTD.
014 B00AA03 8-99999
014 A00AA04 BOSTON INSTITUTIONAL SERVICES INC.
014 B00AA04 8-99999
015 A00AA01 STATE STREET BANK AND TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 NY
015 C03AA01 02101
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 69
019 C00AA00 J.P MORGAN
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020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
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020 C000009 0
020 C000010 0
021 000000 0
022 A000001 THE PRIME MONEY MARKET PORTFOLIO
022 B000001 04-3194414
022 C000001 34552961
022 D000001 32056826
022 A000002 THE INTERNATIONAL OPPORTUNITIES PORTFOLIO
022 B000002 98-0165901
022 C000002 44793
022 D000002 111545
022 A000003 THE EUROPEAN EQUITY PORTFOLIO
022 B000003 98-0150124
022 C000003 2355
022 D000003 2739
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<PAGE> PAGE 5
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039 00AA00 N
040 00AA00 N
041 00AA00 N
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<PAGE> PAGE 6
045 00AA00 N
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066 A00AA00 N
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069 00AA00 N
077 A000000 N
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<PAGE> PAGE 7
080 A00AA00 .
080 C00AA00 0
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<PAGE> PAGE 8
072 M001200 0
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055 A001300 N
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061 001300 10000000
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<PAGE> PAGE 9
070 A021300 N
070 B011300 N
070 B021300 N
070 C011300 N
070 C021300 N
070 D011300 N
070 D021300 N
070 E011300 N
070 E021300 N
070 F011300 N
070 F021300 N
070 G011300 N
070 G021300 N
070 H011300 N
070 H021300 N
070 I011300 N
070 I021300 N
070 J011300 Y
070 J021300 N
070 K011300 Y
070 K021300 Y
070 L011300 Y
070 L021300 N
070 M011300 N
070 M021300 N
070 N011300 Y
070 N021300 N
070 O011300 Y
070 O021300 N
070 P011300 N
070 P021300 N
070 Q011300 N
070 Q021300 N
070 R011300 N
070 R021300 N
071 A001300 0
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<PAGE> PAGE 10
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074 R041300 8131
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074 V011300 1.00
<PAGE> PAGE 11
074 V021300 0.00
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075 A001300 4950621
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028 A011500 0
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028 A041500 460
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028 G011500 2207
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028 G041500 2738
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055 A001500 N
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056 001500 N
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059 001500 Y
060 A001500 Y
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061 001500 10000000
070 A011500 Y
070 A021500 N
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070 B021500 N
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<PAGE> PAGE 12
070 D011500 Y
070 D021500 N
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070 H011500 Y
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070 L021500 N
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070 P021500 N
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070 R021500 N
071 A001500 0
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<PAGE> PAGE 13
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<PAGE> PAGE 14
075 B001500 11664
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028 A011700 3719
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055 A001700 N
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061 001700 1000000
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
072EE003200 0
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SIGNATURE GEOGRE A. RIO
TITLE TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial data extracted from the semiannual
report dated May 31, 1999 for the J.P. Morgan Institutional International
Opportunities Fund and is qualified in its entirety by reference to such
semiannual report
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1999
<PERIOD-END> MAY-31-1999
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 275799
<RECEIVABLES> 2421
<ASSETS-OTHER> 11
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 278231
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 94
<TOTAL-LIABILITIES> 94
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 277092
<SHARES-COMMON-STOCK> 25765
<SHARES-COMMON-PRIOR> 32054
<ACCUMULATED-NII-CURRENT> 810
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (27828)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 28063
<NET-ASSETS> 278137
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 0
<OTHER-INCOME> 2028
<EXPENSES-NET> 233
<NET-INVESTMENT-INCOME> 1795
<REALIZED-GAINS-CURRENT> 6128
<APPREC-INCREASE-CURRENT> 18194
<NET-CHANGE-FROM-OPS> 26117
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 7774
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4253
<NUMBER-OF-SHARES-REDEEMED> 10810
<SHARES-REINVESTED> 269
<NET-CHANGE-IN-ASSETS> (45781)
<ACCUMULATED-NII-PRIOR> 6790
<ACCUMULATED-GAINS-PRIOR> (33957)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 18
<GROSS-EXPENSE> 256
<AVERAGE-NET-ASSETS> 280542
<PER-SHARE-NAV-BEGIN> 10.11
<PER-SHARE-NII> 0.07
<PER-SHARE-GAIN-APPREC> 0.89
<PER-SHARE-DIVIDEND> 0.27
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.80
<EXPENSE-RATIO> 1.00
[AVG-DEBT-OUTSTANDING] 703
[AVG-DEBT-PER-SHARE] .03
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial data extracted from the semi-annual
report dated May 31, 1999 for the J.P. Morgan Istitutional European Equity Fund
and is qualified in its entirety by reference to such semi-annual report.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1999
<PERIOD-END> MAY-31-1999
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 11,747
<RECEIVABLES> 85
<ASSETS-OTHER> 3
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 11,835
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 43
<TOTAL-LIABILITIES> 43
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 11,962
<SHARES-COMMON-STOCK> 822
<SHARES-COMMON-PRIOR> 845
<ACCUMULATED-NII-CURRENT> 67
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (432)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 194
<NET-ASSETS> 11,792
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 0
<OTHER-INCOME> 93
<EXPENSES-NET> 1
<NET-INVESTMENT-INCOME> 92
<REALIZED-GAINS-CURRENT> 32
<APPREC-INCREASE-CURRENT> 107
<NET-CHANGE-FROM-OPS> 231
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 186
<DISTRIBUTIONS-OF-GAINS> 309
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,207
<NUMBER-OF-SHARES-REDEEMED> 2,738
<SHARES-REINVESTED> 148
<NET-CHANGE-IN-ASSETS> 647
<ACCUMULATED-NII-PRIOR> 161
<ACCUMULATED-GAINS-PRIOR> (155)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 1
<GROSS-EXPENSE> 39
<AVERAGE-NET-ASSETS> 11,664
<PER-SHARE-NAV-BEGIN> 14.73
<PER-SHARE-NII> .12
<PER-SHARE-GAIN-APPREC> .11
<PER-SHARE-DIVIDEND> .23
<PER-SHARE-DISTRIBUTIONS> .38
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.35
<EXPENSE-RATIO> 1.00
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains financial data extracted from the semi-annual report
dated May 31, 1999 for the J.P. Morgan Instituional Prime Money Market Fund
and is qualified in its entirety by reference to such semi-annual report.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1999
<PERIOD-END> MAY-31-1999
<INVESTMENTS-AT-COST> 4553458
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 719
<ASSETS-OTHER> 20
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4554197
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 8635
<TOTAL-LIABILITIES> 8635
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4545912
<SHARES-COMMON-STOCK> 4545902
<SHARES-COMMON-PRIOR> 3458886
<ACCUMULATED-NII-CURRENT> (278)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (72)
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 4545562
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 0
<OTHER-INCOME> 122734
<EXPENSES-NET> 1243
<NET-INVESTMENT-INCOME> 121491
<REALIZED-GAINS-CURRENT> (225)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 121266
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 121355
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 29433584
<NUMBER-OF-SHARES-REDEEMED> 28411658
<SHARES-REINVESTED> 65091
<NET-CHANGE-IN-ASSETS> 1086928
<ACCUMULATED-NII-PRIOR> (53)
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 209
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3413
<AVERAGE-NET-ASSETS> 4950621
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.025
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0.025
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.20
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial data extracted from the semi-annual
report dated May 31, 1999 for the J.P. Morgan Institutional Service Prime Money
Market Fund and is qualified in its entirety by reference to such semi-annual
report.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1999
<PERIOD-END> MAY-31-1999
<INVESTMENTS-AT-COST> 1957329
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 132
<ASSETS-OTHER> 10
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1957471
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 5941
<TOTAL-LIABILITIES> 5941
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1951587
<SHARES-COMMON-STOCK> 1951590
<SHARES-COMMON-PRIOR> 470869
<ACCUMULATED-NII-CURRENT> 3
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (60)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 1951530
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 0
<OTHER-INCOME> 28076
<EXPENSES-NET> 1710
<NET-INVESTMENT-INCOME> 26366
<REALIZED-GAINS-CURRENT> (55)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 26311
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 26366
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5119377
<NUMBER-OF-SHARES-REDEEMED> 3645168
<SHARES-REINVESTED> 6512
<NET-CHANGE-IN-ASSETS> 1480666
<ACCUMULATED-NII-PRIOR> 2331
<ACCUMULATED-GAINS-PRIOR> (5)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1973
<AVERAGE-NET-ASSETS> 1142198
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.023
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0.023
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.45
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
