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 semi-annual
report dated April 30, 2000 for the J.P. Morgan Federal Money Market Fund and is
qualified in its entirety by reference to such semi-annual report.
</LEGEND>
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-2000
<PERIOD-END> APR-30-2000
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 1410813
<RECEIVABLES> 0
<ASSETS-OTHER> 6
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1410818
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 7539
<TOTAL-LIABILITIES> 7539
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1403314
<SHARES-COMMON-STOCK> 1403314
<SHARES-COMMON-PRIOR> 780153
<ACCUMULATED-NII-CURRENT> 2
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (37)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 1403279
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 33372
<OTHER-INCOME> 0
<EXPENSES-NET> 2700
<NET-INVESTMENT-INCOME> 30672
<REALIZED-GAINS-CURRENT> 3
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 30675
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 30670
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4319955
<NUMBER-OF-SHARES-REDEEMED> 3792053
<SHARES-REINVESTED> 5633
<NET-CHANGE-IN-ASSETS> 533541
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2700
<AVERAGE-NET-ASSETS> 1154057
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> .026
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> .026
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> .47
</TABLE>
