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 April 30, 2000 for the J.P. Morgan Institutional International
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> OCT-31-2000
<PERIOD-END> APR-30-2000
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 487542
<RECEIVABLES> 0
<ASSETS-OTHER> 3
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 487545
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 122
<TOTAL-LIABILITIES> 122
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 343482
<SHARES-COMMON-STOCK> 34845
<SHARES-COMMON-PRIOR> 34742
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (1409)
<ACCUMULATED-NET-GAINS> 38385
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 106965
<NET-ASSETS> 487423
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 0
<OTHER-INCOME> 3395
<EXPENSES-NET> 2376
<NET-INVESTMENT-INCOME> 1019
<REALIZED-GAINS-CURRENT> 39125
<APPREC-INCREASE-CURRENT> (540)
<NET-CHANGE-FROM-OPS> 39604
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 5509
<DISTRIBUTIONS-OF-GAINS> 17820
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 10511
<NUMBER-OF-SHARES-REDEEMED> 11545
<SHARES-REINVESTED> 1137
<NET-CHANGE-IN-ASSETS> 16228
<ACCUMULATED-NII-PRIOR> 3081
<ACCUMULATED-GAINS-PRIOR> 17080
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2376
<AVERAGE-NET-ASSETS> 512655
<PER-SHARE-NAV-BEGIN> 13.56
<PER-SHARE-NII> 0.03
<PER-SHARE-GAIN-APPREC> 1.07
<PER-SHARE-DIVIDEND> 0.67
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.99
<EXPENSE-RATIO> 0.93
</TABLE>
