J.P. Morgan
Funds Supplement dated March 23, 2000, to the following Prospectus:
J.P. Morgan U.S. Equity Funds, dated March 1, 2000
The second paragraph under the heading "Portfolio Management" on page 1 with
respect to J.P. Morgan Disciplined Equity Fund is hereby replaced with the
following:
The portfolio management team is led by Bernard A. Kroll, managing
director, Timothy J. Devlin, vice president, and Nanette Buziak, vice
president. Mr. Kroll has been at J.P. Morgan since August of 1996 and
prior to managing this fund was an equity derivatives specialist at
Goldman Sachs & Co. Mr. Devlin has been at J.P. Morgan since July of
1996, and prior to that time was an equity portfolio manager at
Mitchell Hutchins Asset Management Inc. Ms. Buziak has been at J.P.
Morgan since March of 1997 and prior to that time was an index
arbitrage trader and convertible bond portfolio manager at First
Marathon America Inc.
The second paragraph under the heading "Portfolio Management" on page 3
with respect to J.P. Morgan U.S. Equity Fund is hereby replaced with the
following:
The portfolio management team is comprised of 23 research analysts, who
select stocks in their respective sectors using the investment process
described on page 12. Bradford L. Frishberg, vice president, oversees
the portfolio and manages its cash flows. Mr. Frishberg has been at
J.P. Morgan since 1996 and is a portfolio manager in the equity and
balanced groups. Prior to joining J.P. Morgan he managed portfolios for
Aetna Investment Management in Hong Kong.
The first sentence of the last paragraph on the last page is hereby replaced
with the following:
Text-only versions of these documents and this prospectus are
available, upon payment of a duplicating fee, from the Public Reference
Room of the Securities and Exchange Commission in Washington, D.C.
(1-202-942-8090) and may be viewed on-screen or downloaded from the
SEC's Internet site at http://www.sec.gov.
