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 annual report
dated April 30, 2000 for the J.P. Morgan Emerging markets Equity Fund and is
qualified in it's entirety by reference to such 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> 0
<INVESTMENTS-AT-VALUE> 40365
<RECEIVABLES> 12
<ASSETS-OTHER> 2
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 40379
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 45
<TOTAL-LIABILITIES> 45
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 49411
<SHARES-COMMON-STOCK> 4652
<SHARES-COMMON-PRIOR> 4622
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 674
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 21792
<ACCUM-APPREC-OR-DEPREC> 13389
<NET-ASSETS> 40334
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 0
<OTHER-INCOME> 96
<EXPENSES-NET> 97
<NET-INVESTMENT-INCOME> (1)
<REALIZED-GAINS-CURRENT> 2114
<APPREC-INCREASE-CURRENT> 2036
<NET-CHANGE-FROM-OPS> 4149
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 166
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 25598
<NUMBER-OF-SHARES-REDEEMED> 25186
<SHARES-REINVESTED> 153
<NET-CHANGE-IN-ASSETS> 4548
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 507
<OVERDIST-NET-GAINS-PRIOR> 23907
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 118
<AVERAGE-NET-ASSETS> 42575
<PER-SHARE-NAV-BEGIN> 7.74
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> .97
<PER-SHARE-DIVIDEND> .04
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 8.67
<EXPENSE-RATIO> 1.75
</TABLE>
