<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 Portfolio 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> 944708
<INVESTMENTS-AT-VALUE> 1081329
<RECEIVABLES> 9660
<ASSETS-OTHER> 6034
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1097023
<PAYABLE-FOR-SECURITIES> 112895
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1028
<TOTAL-LIABILITIES> 113923
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 983100
<DIVIDEND-INCOME> 8121
<INTEREST-INCOME> 21968
<OTHER-INCOME> 0
<EXPENSES-NET> 6089
<NET-INVESTMENT-INCOME> 24000
<REALIZED-GAINS-CURRENT> 31840
<APPREC-INCREASE-CURRENT> 10706
<NET-CHANGE-FROM-OPS> 66546
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 239595
<NUMBER-OF-SHARES-REDEEMED> 196922
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 109219
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5129
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 6328
<AVERAGE-NET-ASSETS> 959593
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> .65
</TABLE>
