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 Bond Fund and is qualified in
its entirety by reference to such semi-annual report.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-2000
<PERIOD-END> APR-30-2000
<INVESTMENTS-AT-COST> 229923
<INVESTMENTS-AT-VALUE> 225881
<RECEIVABLES> 0
<ASSETS-OTHER> 9
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 225890
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1223
<TOTAL-LIABILITIES> 1223
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 236659
<SHARES-COMMON-STOCK> 23149
<SHARES-COMMON-PRIOR> 23797
<ACCUMULATED-NII-CURRENT> 150
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (7583)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (4559)
<NET-ASSETS> 224667
<DIVIDEND-INCOME> 103
<INTEREST-INCOME> 7563
<OTHER-INCOME> 0
<EXPENSES-NET> (718)
<NET-INVESTMENT-INCOME> 6948
<REALIZED-GAINS-CURRENT> (2705)
<APPREC-INCREASE-CURRENT> (1209)
<NET-CHANGE-FROM-OPS> 3034
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 6984
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 50635
<NUMBER-OF-SHARES-REDEEMED> 62054
<SHARES-REINVESTED> 5162
<NET-CHANGE-IN-ASSETS> 10207
<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> 0
<AVERAGE-NET-ASSETS> 225782
<PER-SHARE-NAV-BEGIN> 9.87
<PER-SHARE-NII> .30
<PER-SHARE-GAIN-APPREC> (.16)
<PER-SHARE-DIVIDEND> .30
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.71
<EXPENSE-RATIO> .64
</TABLE>
