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CONSENT OF INDEPENDENT ACCOUNTANTS
We hereby consent to the incorporation by reference in this Registration
Statement on Form N-1A of our reports dated August 15, 2000, relating to the
financial statements and financial highlights of J.P. Morgan Institutional
Diversified Fund and the financial statements and supplementary data of The
Diversified Portfolio which appear in the June 30, 2000 Annual Reports to
Trustees and Shareholders, which are also incorporated by reference into the
Registration Statement. We also consent to the references to us under the
headings "Independent Accountants", "Financial Statements" and "Financial
Highlights" in such Registration Statement.
PricewaterhouseCoopers LLP
New York, New York
October 27, 2000
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CONSENT OF INDEPENDENT ACCOUNTANTS
We hereby consent to the references to us under the headings "Independent
Accountants" and "Financial Statements" in this Post-Effective Amendment No.80
to the registration statement on Form N-1A.
PricewaterhouseCoopers LLP
New York, New York
October 27, 2000
