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 October 31, 2000 for the J.P. Morgan Emerging Markets Equity 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> OCT-31-2000
<PERIOD-END> OCT-31-2000
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 34206
<RECEIVABLES> 84
<ASSETS-OTHER> 14
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 34304
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 100
<TOTAL-LIABILITIES> 100
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 50290
<SHARES-COMMON-STOCK> 4781
<SHARES-COMMON-PRIOR> 4622
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 609
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 23817
<ACCUM-APPREC-OR-DEPREC> 8340
<NET-ASSETS> 34204
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 0
<OTHER-INCOME> 228
<EXPENSES-NET> 166
<NET-INVESTMENT-INCOME> 62
<REALIZED-GAINS-CURRENT> 102
<APPREC-INCREASE-CURRENT> (3012)
<NET-CHANGE-FROM-OPS> (2848)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 166
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 48673
<NUMBER-OF-SHARES-REDEEMED> 47395
<SHARES-REINVESTED> 153
<NET-CHANGE-IN-ASSETS> (1583)
<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> 798
<AVERAGE-NET-ASSETS> 40780
<PER-SHARE-NAV-BEGIN> 7.74
<PER-SHARE-NII> .02
<PER-SHARE-GAIN-APPREC> (.57)
<PER-SHARE-DIVIDEND> .04
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.15
<EXPENSE-RATIO> 1.75
</TABLE>