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 annual report
dated July 31, 2000 for the J.P. Morgan Emerging Markets Debt Fund and is
qualified in its entirety by reference to such annual report.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-END> JUL-31-2000
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 20234
<RECEIVABLES> 13
<ASSETS-OTHER> 3
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 20250
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 87
<TOTAL-LIABILITIES> 87
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 20693
<SHARES-COMMON-STOCK> 2300
<SHARES-COMMON-PRIOR> 3596
<ACCUMULATED-NII-CURRENT> 367
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (3014)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2117
<NET-ASSETS> 20163
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2612
<OTHER-INCOME> 0
<EXPENSES-NET> 19
<NET-INVESTMENT-INCOME> 2593
<REALIZED-GAINS-CURRENT> 2479
<APPREC-INCREASE-CURRENT> 2102
<NET-CHANGE-FROM-OPS> 7174
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2589
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 11884
<NUMBER-OF-SHARES-REDEEMED> 2332
<SHARES-REINVESTED> 24854
<NET-CHANGE-IN-ASSETS> 6053
<ACCUMULATED-NII-PRIOR> 334
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 5512
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 14
<GROSS-EXPENSE> 157
<AVERAGE-NET-ASSETS> 23543
<PER-SHARE-NAV-BEGIN> 7.29
<PER-SHARE-NII> .95
<PER-SHARE-GAIN-APPREC> 1.42
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> .89
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 8.77
<EXPENSE-RATIO> 1.25
</TABLE>
