JP MORGAN FUNDS
497, 1999-12-29
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J.P. Morgan Funds
Supplement dated December 29, 1999 to the following Prospectus:

J.P. Morgan Fixed Income Funds, dated December 1, 1999

Effective  January 1, 2000, the benchmark of the J.P.  Morgan  Emerging  Markets
Debt Fund will be the Emerging Markets Bond Index ("EMBI")  Global.  EMBI Global
is  a   broad-based   unmanaged   index  which  tracks  total  return  for  U.S.
dollar-denominated  emerging markets debt, including brady bonds, eurobonds, and
loans.



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