<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial data extracted from the annual report
dated June 30, 2000 for the J.P. Morgan Diversified Fund and is qualified in its
entirety by reference to such annual report.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUN-30-2000
<PERIOD-END> JUN-30-2000
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 360991
<RECEIVABLES> 99
<ASSETS-OTHER> 2
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 361091
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2592
<TOTAL-LIABILITIES> 2592
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 302248
<SHARES-COMMON-STOCK> 21583
<SHARES-COMMON-PRIOR> 16274
<ACCUMULATED-NII-CURRENT> 2199
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 8274
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 45779
<NET-ASSETS> 358500
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 0
<OTHER-INCOME> 8304
<EXPENSES-NET> 1071
<NET-INVESTMENT-INCOME> 7233
<REALIZED-GAINS-CURRENT> 10552
<APPREC-INCREASE-CURRENT> 4740
<NET-CHANGE-FROM-OPS> 22525
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 5267
<DISTRIBUTIONS-OF-GAINS> 10741
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 167393
<NUMBER-OF-SHARES-REDEEMED> 97570
<SHARES-REINVESTED> 15834
<NET-CHANGE-IN-ASSETS> 92174
<ACCUMULATED-NII-PRIOR> 32
<ACCUMULATED-GAINS-PRIOR> 8676
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1072
<AVERAGE-NET-ASSETS> 330677
<PER-SHARE-NAV-BEGIN> 16.36
<PER-SHARE-NII> .36
<PER-SHARE-GAIN-APPREC> .70
<PER-SHARE-DIVIDEND> .26
<PER-SHARE-DISTRIBUTIONS> .55
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.61
<EXPENSE-RATIO> .96
</TABLE>
