J.P. Morgan Funds
Supplement dated April 12, 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 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. Henry D. Cavanna, managing director, and Bradford L. Frishberg, vice
president, oversee the portfolio and manage its cash flows. Mr. Cavana joined
the team in February of 1998, and has been at J.P. Morgan since 1971. He served
as manager of U.S. equity portfolios prior to managing the fund. 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.
