J.P. Morgan Funds
Supplement dated February 3, 2000, to the following Prospectus:
J.P. Morgan U.S. Equity Funds, dated October 1, 1999
The second paragraph under the heading "Portfolio Management" on page 6
with respect to J.P. Morgan U.S. Small Company Fund is hereby replaced with the
following:
The portfolio management team is led by Marian U. Pardo, managing
director, and Alexandra F. Wells, vice president. Ms. Pardo has been at
J.P. Morgan since 1968, except for five months in 1998 when she was
president of a small investment management firm. Prior to managing the
fund, Ms. Pardo managed small and large equity portfolios, equity and
convertible funds, and several institutional portfolios. Ms. Wells
joined the team in March 1998 and has been with J.P. Morgan since 1992.
Prior to managing the fund, Ms. Wells managed large cap equity
portfolios, and prior to that served as an equity research analyst.
The second paragraph under the heading "Portfolio Management" on page 8 with
respect to J.P. Morgan U.S. Small Company Opportunities Fund is hereby replaced
with the following:
The portfolio management team is led by Marian U. Pardo, managing
director, Saira Malik, vice president, and Carolyn Jones, associate.
Ms. Pardo has been at J.P. Morgan since 1968, except for five months in
1998 when she was president of a small investment management firm.
Prior to managing the fund, Ms. Pardo managed small and large equity
portfolios, equity and convertible funds, and several institutional
portfolios. Ms. Malik has been with J.P. Morgan since July 1995 as a
small company equity analyst and portfolio manager after graduating
from the University of Wisconsin with an M.S. in finance. Ms. Jones has
been with J.P. Morgan since July 1998. Prior to managing this fund, Ms.
Jones served as a portfolio manager in J.P Morgan's private banking
group and as a product specialist at Merrill Lynch Asset Management.
