<PAGE> PAGE 1
000 A000000 02/28/97
000 C000000 0000894089
000 D000000 N
000 E000000 NF
000 F000000 Y
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001 A000000 THE JPM PIERPONT FUNDS
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002 C000000 MA
002 D010000 02109
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007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C020600 THE JPM PIERPONT TAX EXEMPT BOND FUND
007 C030600 N
007 C010700 7
007 C020700 THE JPM PIERPONT TAX EXEMPT MONEY MARKET FUND
007 C030700 N
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007 C010900 9
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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
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.
<PAGE> PAGE 2
011 B00AA01 8-420518
011 C01AA01 BOSTON
011 C02AA01 MA
011 C03AA01 02116
012 A00AA01 STATE STREET BANK AND TRUST
012 B00AA01 85-50003
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012 A00AA02 MORGAN GUARANTY TRUST COMPANY OF NEW YORK
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013 B02AA01 NY
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014 A00AA02 J.P. MORGAN SECURITIES, INC.
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014 A00AA03 J.P. MORGAN SECURITIES LTD.
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022 A000002 THE TAX EXEMPT BOND PORTFOLIO
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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SIGNATURE RICHARD W. INGRAM
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 semi-annual
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</TABLE>
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<LEGEND>
This schedule contains summary financial data extracted from the semi-annual
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</LEGEND>
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</TABLE>
