<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial data extracterd from the semiannual
report dated April 30, 2000 for the J.P. Morgan Institutional Glaobal Strategic
Income Fund and is qualified in its entirety by reference to such semiannual
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> 7106
<RECEIVABLES> 36
<ASSETS-OTHER> 2
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 7144
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 75
<TOTAL-LIABILITIES> 75
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7069
<SHARES-COMMON-STOCK> 761
<SHARES-COMMON-PRIOR> 965
<ACCUMULATED-NII-CURRENT> 67
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 845
<ACCUM-APPREC-OR-DEPREC> (199)
<NET-ASSETS> 7069
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 307
<OTHER-INCOME> 0
<EXPENSES-NET> 15
<NET-INVESTMENT-INCOME> 292
<REALIZED-GAINS-CURRENT> (197)
<APPREC-INCREASE-CURRENT> 112
<NET-CHANGE-FROM-OPS> 206
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 286
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 105
<NUMBER-OF-SHARES-REDEEMED> 331
<SHARES-REINVESTED> 22
<NET-CHANGE-IN-ASSETS> (2004)
<ACCUMULATED-NII-PRIOR> 61
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (648)
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 85
<AVERAGE-NET-ASSETS> 8077
<PER-SHARE-NAV-BEGIN> 9.4
<PER-SHARE-NII> .36
<PER-SHARE-GAIN-APPREC> (.13)
<PER-SHARE-DIVIDEND> .34
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.29
<EXPENSE-RATIO> 1.0
</TABLE>
