<PAGE> PAGE 1
000 A000000 09/30/97
000 C000000 894089
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 THE JPM PIERPONT FUNDS
001 B000000 811-7340
001 C000000 6175573334
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 21
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 C011400 14
007 C011500 15
007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
007 C022000 THE JPM PIERPONT NEW YORK TOTAL RETURN BND FD
007 C032000 N
010 A00AA01 FUNDS DISTRIBUTOR,INC.
010 B00AA01 8-420518
010 C01AA01 BOSTON
010 C02AA01 MA
010 C03AA01 02116
010 A00AA02 MORGAN GUARANTY TRUST COMPANY OF NEW YORK
010 B00AA02 8-49999
<PAGE> PAGE 2
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 & TRUST CO.
012 B00AA01 85-50003
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02101
012 A00AA02 MORGAN GUARANTY TRUST COMPANY OF NEW YORK
012 B00AA02 85-9999999
012 C01AA02 NEW YORK
012 C02AA02 NY
012 C03AA02 10036
013 A00AA01 PRICE WATERHOUSE LLP
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10036
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 & TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02101
015 E01AA01 X
018 00AA00 N
019 A00AA00 Y
019 B00AA00 70
019 C00AA00 JPM/PIERPO
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
<PAGE> PAGE 3
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 0
022 A000001 THE NEW YORK TOTAL RETURN BOND PORTFOLIO
022 B000001 04-3221851
022 C000001 124555
022 D000001 114617
022 C000002 0
022 D000002 0
022 C000003 0
022 D000003 0
022 C000004 0
022 D000004 0
022 C000005 0
022 D000005 0
022 C000006 0
022 D000006 0
022 C000007 0
022 D000007 0
022 C000008 0
022 D000008 0
022 C000009 0
022 D000009 0
022 C000010 0
022 D000010 0
023 C000000 124555
023 D000000 114617
024 00AA00 N
025 D00AA01 0
025 D00AA02 0
025 D00AA03 0
025 D00AA04 0
025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
029 00AA00 N
030 A00AA00 0
030 B00AA00 0.00
030 C00AA00 0.00
<PAGE> PAGE 4
031 A00AA00 0
031 B00AA00 0
032 00AA00 0
033 00AA00 0
034 00AA00 N
035 00AA00 0
036 B00AA00 0
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 N
041 00AA00 N
042 A00AA00 0
042 B00AA00 0
042 C00AA00 0
042 D00AA00 0
042 E00AA00 0
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
043 00AA00 0
044 00AA00 0
045 00AA00 N
048 00AA00 0.000
048 A01AA00 0
048 A02AA00 0.000
048 B01AA00 0
048 B02AA00 0.000
048 C01AA00 0
048 C02AA00 0.000
048 D01AA00 0
048 D02AA00 0.000
048 E01AA00 0
048 E02AA00 0.000
048 F01AA00 0
048 F02AA00 0.000
048 G01AA00 0
048 G02AA00 0.000
048 H01AA00 0
048 H02AA00 0.000
048 I01AA00 0
048 I02AA00 0.000
048 J01AA00 0
048 J02AA00 0.000
048 K01AA00 0
048 K02AA00 0.000
055 A00AA00 N
055 B00AA00 N
056 00AA00 N
057 00AA00 N
058 A00AA00 N
<PAGE> PAGE 5
059 00AA00 Y
060 A00AA00 N
060 B00AA00 N
061 00AA00 100000
062 A00AA00 N
062 B00AA00 0.0
062 C00AA00 0.0
062 D00AA00 0.0
062 E00AA00 0.0
062 F00AA00 0.0
062 G00AA00 0.0
062 H00AA00 0.0
062 I00AA00 0.0
062 J00AA00 0.0
062 K00AA00 0.0
062 L00AA00 0.0
062 M00AA00 0.0
062 N00AA00 0.0
062 O00AA00 0.0
062 P00AA00 0.0
062 Q00AA00 0.0
062 R00AA00 0.0
063 A00AA00 0
063 B00AA00 0.0
066 A00AA00 N
067 00AA00 N
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
070 A01AA00 Y
070 A02AA00 N
070 B01AA00 N
070 B02AA00 N
070 C01AA00 Y
070 C02AA00 N
070 D01AA00 N
070 D02AA00 N
070 E01AA00 Y
070 E02AA00 N
070 F01AA00 N
070 F02AA00 N
070 G01AA00 Y
070 G02AA00 N
070 H01AA00 N
070 H02AA00 N
070 I01AA00 N
070 I02AA00 N
070 J01AA00 Y
070 J02AA00 N
070 K01AA00 Y
070 K02AA00 Y
<PAGE> PAGE 6
070 L01AA00 N
070 L02AA00 N
070 M01AA00 N
070 M02AA00 N
070 N01AA00 Y
070 N02AA00 N
070 O01AA00 Y
070 O02AA00 N
070 P01AA00 Y
070 P02AA00 N
070 Q01AA00 N
070 Q02AA00 N
070 R01AA00 N
070 R02AA00 N
077 A000000 N
078 000000 N
080 A00AA00 CHUBB INSURANCE
080 C00AA00 18000
081 A00AA00 Y
081 B00AA00 17
082 A00AA00 Y
082 B00AA00 25
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
028 A011300 1485
028 A021300 144
028 A031300 0
028 A041300 311
028 B011300 972
028 B021300 146
028 B031300 0
028 B041300 2174
028 C011300 2792
028 C021300 232
028 C031300 0
<PAGE> PAGE 7
028 C041300 3947
028 D011300 5831
028 D021300 141
028 D031300 0
028 D041300 588
028 E011300 1666
028 E021300 156
028 E031300 0
028 E041300 1758
028 F011300 918
028 F021300 147
028 F031300 0
028 F041300 4701
028 G011300 13664
028 G021300 966
028 G031300 0
028 G041300 13479
028 H001300 0
071 A001300 0
071 B001300 0
071 C001300 0
071 D001300 0
072 A001300 12
072 B001300 0
072 C001300 0
072 D001300 0
072 E001300 2636
072 F001300 0
072 G001300 22
072 H001300 0
072 I001300 132
072 J001300 0
072 K001300 0
072 L001300 29
072 M001300 2
072 N001300 4
072 O001300 0
072 P001300 0
072 Q001300 0
072 R001300 13
072 S001300 1
072 T001300 0
072 U001300 3
072 V001300 0
072 W001300 3
072 X001300 209
072 Y001300 33
072 Z001300 2460
072AA001300 46
072BB001300 0
072CC011300 0
<PAGE> PAGE 8
072CC021300 178
072DD011300 2460
072DD021300 0
072EE001300 140
073 A011300 0.4600
073 A021300 0.0000
073 B001300 0.0300
073 C001300 0.0000
074 A001300 0
074 B001300 0
074 C001300 0
074 D001300 0
074 E001300 0
074 F001300 0
074 G001300 0
074 H001300 0
074 I001300 56813
074 J001300 0
074 K001300 8
074 L001300 0
074 M001300 6
074 N001300 56827
074 O001300 0
074 P001300 12
074 Q001300 0
074 R011300 0
074 R021300 0
074 R031300 0
074 R041300 617
074 S001300 0
074 T001300 56198
074 U011300 5465
074 U021300 0
074 V011300 10.28
074 V021300 0.00
074 W001300 0.0000
074 X001300 139
074 Y001300 0
075 A001300 0
075 B001300 55445
076 001300 0.00
028 A012000 3175
028 A022000 159
028 A032000 0
028 A042000 1502
028 B012000 1195
028 B022000 153
028 B032000 0
028 B042000 2194
028 C012000 6113
028 C022000 160
<PAGE> PAGE 9
028 C032000 0
028 C042000 2872
028 D012000 2484
028 D022000 171
028 D032000 0
028 D042000 704
028 E012000 1408
028 E022000 175
028 E032000 0
028 E042000 187
028 F012000 3560
028 F022000 177
028 F032000 0
028 F042000 2094
028 G012000 17935
028 G022000 995
028 G032000 0
028 G042000 9553
028 H002000 0
071 A002000 0
071 B002000 0
071 C002000 0
071 D002000 0
072 A002000 6
072 B002000 0
072 C002000 0
072 D002000 0
072 E002000 1455
072 F002000 0
072 G002000 9
072 H002000 0
072 I002000 74
072 J002000 0
072 K002000 0
072 L002000 7
072 M002000 1
072 N002000 2
072 O002000 0
072 P002000 0
072 Q002000 0
072 R002000 4
072 S002000 1
072 T002000 0
072 U002000 1
072 V002000 0
072 W002000 3
072 X002000 102
072 Y002000 4
072 Z002000 1357
072AA002000 226
072BB002000 0
<PAGE> PAGE 10
072CC012000 1690
072CC022000 0
072DD012000 1357
072DD022000 0
072EE002000 0
073 A012000 0.2300
073 A022000 0.0000
073 B002000 0.0000
073 C002000 0.0000
074 A002000 0
074 B002000 0
074 C002000 0
074 D002000 0
074 E002000 0
074 F002000 0
074 G002000 0
074 H002000 0
074 I002000 67599
074 J002000 0
074 K002000 1
074 L002000 0
074 M002000 5
074 N002000 67605
074 O002000 0
074 P002000 5
074 Q002000 0
074 R012000 0
074 R022000 0
074 R032000 0
074 R042000 109
074 S002000 0
074 T002000 67491
074 U012000 6355
074 U022000 0
074 V012000 10.62
074 V022000 0.00
074 W002000 0.0000
074 X002000 139
074 Y002000 0
075 A002000 0
075 B002000 61319
076 002000 0.00
SIGNATURE RICHARD W. INGRAM
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule cotains summary financial data extracted from the semi-annual
report dated September 30, 1997 for The JPM Pierpont New York Total Return Bond
Fund and is qualified in its entirety by reference to such semi-annual report.
</LEGEND>
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-1998
<PERIOD-END> SEP-30-1997
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 67598
<RECEIVABLES> 1
<ASSETS-OTHER> 5
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 67604
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 114
<TOTAL-LIABILITIES> 114
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 64510
<SHARES-COMMON-STOCK> 6355
<SHARES-COMMON-PRIOR> 5465
<ACCUMULATED-NII-CURRENT> 21
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 226
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2733
<NET-ASSETS> 67490
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1455
<OTHER-INCOME> 0
<EXPENSES-NET> 98
<NET-INVESTMENT-INCOME> 1357
<REALIZED-GAINS-CURRENT> 226
<APPREC-INCREASE-CURRENT> 1690
<NET-CHANGE-FROM-OPS> 3273
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1357
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 17935
<NUMBER-OF-SHARES-REDEEMED> 9553
<SHARES-REINVESTED> 995
<NET-CHANGE-IN-ASSETS> 11293
<ACCUMULATED-NII-PRIOR> 21
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 102
<AVERAGE-NET-ASSETS> 61319
<PER-SHARE-NAV-BEGIN> 10.28
<PER-SHARE-NII> .23
<PER-SHARE-GAIN-APPREC> .34
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> .23
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.62
<EXPENSE-RATIO> .72
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
