JPM SERIES TRUST II
NSAR-A, 1997-08-28
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<PAGE>      PAGE  1
000 A000000 06/30/97
000 C000000 916118
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 JPM SERIES TRUST II
001 B000000 811-08212
001 C000000 6175570700
002 A000000 60 STATE STREET SUITE 1300
002 B000000 BOSTON
002 C000000 MA
002 D010000 02109
003  000000 Y
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  5
007 C010100  1
007 C020100 JPM TREASURY MONEY MARKET PORTFOLIO
007 C030100 N
007 C010200  2
007 C020200 JPM BOND PORTFOLIO
007 C030200 N
007 C010300  3
007 C020300 JPM EQUITY PORTFOLIO
007 C030300 N
007 C010400  4
007 C020400 JPM SMALL COMPANY PORTFOLIO
007 C030400 N
007 C010500  5
007 C020500 JPM INTERNATIONAL EQUITY PORTFOLIO
007 C030500 N
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 JP MORGAN INVESTMENT MANAGEMENT INC.
008 B00AA01 A
008 C00AA01 801-999999
008 D01AA01 NEW YORK
008 D02AA01 NY
008 D03AA01 10036
010 A00AA01 FUNDS DISTRIBUTOR, INC.
010 B00AA01 8-420518
010 C01AA01 BOSTON
<PAGE>      PAGE  2
010 C02AA01 MA
010 C03AA01 02116
010 A00AA02 MORGAN GUARANTY TRUST COMPANY OF NEW YORK
010 B00AA02 8-49999
010 C01AA02 NEW YORK
010 C02AA02 NY
010 C03AA02 10036
011 A00AA01 FUNDS DISTRIBUTOR, INC.
011 B00AA01 8-420518
011 C01AA01 BOSTON
011 C02AA01 MA
011 C03AA01 02116
012 A00AA01 STATE STREET BANK AND TRUST COMPANY
012 B00AA01 85-50003
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02101
013 A00AA01 PRICE WATERHOUSE LLP
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10036
014 A00AA01 J.P. MORGAN SECURITIES INC.
014 B00AA01 8-99999999
014 A00AA02 JPM SECURITIES LTD.
014 B00AA02 8-99999999
014 A00AA03 BOSTON INSTITUTIONAL SERVICES
014 B00AA03 8-99999999
014 A00AA04 FUNDS DISTRIBUTOR, INC.
014 B00AA04 8-99999999
015 A00AA01 STATE STREET BANK AND TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02101
015 E01AA01 X
018  00AA00 Y
019 A00AA00 Y
019 B00AA00    5
019 C00AA00 JPMSERTRII
020 A000001 SALOMON BROTHERS, INC.
020 C000001      1
020 A000002 CITIBANK
020 C000002      1
020 A000003 GOLDMAN SACHS
020 C000003      1
020 A000004 HG ASIA
020 C000004      1
020 A000005 COUNTY NATWEST
020 C000005      1
020 A000006 MORGAN STANLEY
020 C000006      1
<PAGE>      PAGE  3
020 A000007 BARCLAYS
020 C000007      1
020 A000008 WARBURG SECURITIES
020 C000008      1
020 A000009 BANCO SANTANDER
020 C000009      1
020 A000010 LEHMAN BROTHERS
020 C000010      1
021  000000       28
022 A000001 NATIONSBANK
022 C000001      3436
022 D000001      1205
022 A000002 HSBC SECURITIES
022 C000002      2501
022 D000002      1773
022 A000003 FIRST CHICAGO
022 C000003       724
022 D000003      1755
022 A000004 CS FIRST BOSTON
022 C000004      1331
022 D000004       487
022 A000005 GREENWICH CAPITAL
022 C000005       786
022 D000005       546
022 A000006 SALOMON BROTHERS
022 C000006       613
022 D000006       711
022 A000007 SMITH BARNEY / SHEARSON LEHMAN
022 C000007      1045
022 D000007       181
022 A000008 GOLDMAN
022 C000008       711
022 D000008       514
022 A000009 CHASE
022 C000009       558
022 D000009       512
022 A000010 MORGAN STANLEY
022 C000010       463
022 D000010       318
023 C000000      12168
023 D000000       8002
024  00AA00 N
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 Y
<PAGE>      PAGE  4
027  000000 Y
029  00AA00 N
030 A00AA00      0
030 B00AA00  0.00
030 C00AA00  0.00
031 A00AA00      0
031 B00AA00      0
032  00AA00      0
033  00AA00      0
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035  00AA00      0
036 B00AA00      0
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038  00AA00      0
039  00AA00 N
040  00AA00 N
041  00AA00 N
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044  00AA00      0
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054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 N
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
055 A00AA00 N
055 B00AA00 N
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<PAGE>      PAGE  5
057  00AA00 N
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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063 A000100  39
063 B000100  0.0
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070 D010100 N
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 N
070 L010100 N
070 L020100 N
070 M010100 N
070 M020100 N
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070 Q020100 N
<PAGE>      PAGE  8
070 R010100 N
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<PAGE>      PAGE  9
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<PAGE>      PAGE  10
028 G030200         0
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062 E000200   0.0
062 F000200   0.0
062 G000200   0.0
062 H000200   0.0
062 I000200   0.0
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062 K000200   0.0
062 L000200   0.0
062 M000200  14.7
062 N000200  31.8
062 O000200   0.0
062 P000200  26.4
062 Q000200  10.9
062 R000200   0.0
063 A000200   0
063 B000200  4.5
064 A000200 N
064 B000200 N
<PAGE>      PAGE  11
066 A000200 N
067  000200 N
068 A000200 N
068 B000200 N
069  000200 N
070 A010200 Y
070 A020200 Y
070 B010200 N
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 Y
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
070 K020200 N
070 L010200 Y
070 L020200 Y
070 M010200 Y
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<PAGE>      PAGE  12
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<PAGE>      PAGE  13
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025 A000301 SALOMON BROTHERS
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<PAGE>      PAGE  14
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<PAGE>      PAGE  15
066 E000300 N
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<PAGE>      PAGE  16
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<PAGE>      PAGE  17
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<PAGE>      PAGE  18
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<PAGE>      PAGE  19
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070 H010400 Y
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
070 K020400 Y
070 L010400 Y
070 L020400 N
070 M010400 Y
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 N
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400      2494
071 B000400      2140
071 C000400      4204
071 D000400   51
072 A000400  6
072 B000400        6
072 C000400       29
072 D000400        0
072 E000400        0
072 F000400       13
072 G000400        0
072 H000400        0
072 I000400        8
072 J000400       26
072 K000400        0
072 L000400        6
<PAGE>      PAGE  20
072 M000400        6
072 N000400        1
072 O000400        0
072 P000400        0
072 Q000400        0
072 R000400        8
072 S000400        1
072 T000400        0
072 U000400        1
072 V000400        0
072 W000400        4
072 X000400       74
072 Y000400       49
072 Z000400       10
072AA000400      167
072BB000400        0
072CC010400      199
072CC020400        0
072DD010400        0
072DD020400        0
072EE000400        0
073 A010400   0.0000
073 A020400   0.0000
073 B000400   0.6200
073 C000400   0.0000
074 A000400        0
074 B000400        0
074 C000400      261
074 D000400        0
074 E000400        0
074 F000400     4826
074 G000400        0
074 H000400        0
074 I000400        0
074 J000400       16
074 K000400       14
074 L000400        4
074 M000400       11
074 N000400     5132
074 O000400       84
074 P000400        3
074 Q000400        0
074 R010400        0
074 R020400        0
074 R030400        0
074 R040400       37
074 S000400        0
074 T000400     5008
074 U010400      393
074 U020400        0
074 V010400    12.75
<PAGE>      PAGE  21
074 V020400     0.00
074 W000400   0.0000
074 X000400        6
074 Y000400        0
075 A000400        0
075 B000400     4420
076  000400     0.00
028 A010500         5
028 A020500       298
028 A030500         0
028 A040500         6
028 B010500        41
028 B020500         0
028 B030500         0
028 B040500        20
028 C010500       166
028 C020500       114
028 C030500         0
028 C040500         8
028 D010500         6
028 D020500         0
028 D030500         0
028 D040500       301
028 E010500         3
028 E020500         0
028 E030500         0
028 E040500         8
028 F010500         0
028 F020500         0
028 F030500         0
028 F040500        16
028 G010500       221
028 G020500       412
028 G030500         0
028 G040500       359
028 H000500         0
045  000500 Y
046  000500 N
047  000500 Y
048  000500  0.600
048 A010500        0
048 A020500 0.000
048 B010500        0
048 B020500 0.000
048 C010500        0
048 C020500 0.000
048 D010500        0
048 D020500 0.000
048 E010500        0
048 E020500 0.000
048 F010500        0
<PAGE>      PAGE  22
048 F020500 0.000
048 G010500        0
048 G020500 0.000
048 H010500        0
048 H020500 0.000
048 I010500        0
048 I020500 0.000
048 J010500        0
048 J020500 0.000
048 K010500        0
048 K020500 0.000
062 A000500 N
062 B000500   0.0
062 C000500   0.0
062 D000500   0.0
062 E000500   0.0
062 F000500   0.0
062 G000500   0.0
062 H000500   0.0
062 I000500   0.0
062 J000500   0.0
062 K000500   0.0
062 L000500   0.0
062 M000500   0.0
062 N000500   0.0
062 O000500   0.0
062 P000500   0.0
062 Q000500   0.0
062 R000500   0.0
063 A000500   0
063 B000500  0.0
066 A000500 Y
066 B000500 N
066 C000500 N
066 D000500 N
066 E000500 N
066 F000500 N
066 G000500 Y
067  000500 N
068 A000500 N
068 B000500 Y
069  000500 N
070 A010500 Y
070 A020500 N
070 B010500 Y
070 B020500 N
070 C010500 N
070 C020500 N
070 D010500 Y
070 D020500 N
070 E010500 N
<PAGE>      PAGE  23
070 E020500 N
070 F010500 Y
070 F020500 N
070 G010500 Y
070 G020500 N
070 H010500 Y
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 Y
070 J020500 Y
070 K010500 Y
070 K020500 N
070 L010500 Y
070 L020500 Y
070 M010500 Y
070 M020500 Y
070 N010500 Y
070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 N
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
071 A000500      5794
071 B000500      6012
071 C000500      6371
071 D000500   91
072 A000500  6
072 B000500        0
072 C000500       87
072 D000500        0
072 E000500        0
072 F000500       20
072 G000500        0
072 H000500        0
072 I000500        8
072 J000500       45
072 K000500        0
072 L000500        6
072 M000500       10
072 N000500        1
072 O000500        0
072 P000500        0
072 Q000500        0
072 R000500       12
072 S000500        2
072 T000500        0
<PAGE>      PAGE  24
072 U000500        1
072 V000500        0
072 W000500        5
072 X000500      110
072 Y000500       71
072 Z000500       48
072AA000500      414
072BB000500        0
072CC010500      204
072CC020500        0
072DD010500        0
072DD020500        0
072EE000500        0
073 A010500   0.0900
073 A020500   0.0000
073 B000500   0.1100
073 C000500   0.0000
074 A000500      261
074 B000500        0
074 C000500        0
074 D000500       49
074 E000500      276
074 F000500     6431
074 G000500        0
074 H000500        0
074 I000500       48
074 J000500      161
074 K000500        0
074 L000500       89
074 M000500       56
074 N000500     7371
074 O000500      233
074 P000500        3
074 Q000500        0
074 R010500        0
074 R020500        0
074 R030500        0
074 R040500       59
074 S000500        0
074 T000500     7076
074 U010500      556
074 U020500        0
074 V010500    12.73
074 V020500     0.00
074 W000500   0.0000
074 X000500        6
074 Y000500        0
075 A000500        0
075 B000500     6623
076  000500     0.00
<PAGE>      PAGE  25
SIGNATURE   RICHARD W. INGRAM                            
TITLE       TREASURER           
 

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 semi-annual
report dated 6/30/97 for the JPM Series Trust II - Treasury Money Market
Portfolio and is qualified in its entirety by reference to such semi-annual
report.
</LEGEND>
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                             1481
<INVESTMENTS-AT-VALUE>                            1481
<RECEIVABLES>                                       18
<ASSETS-OTHER>                                       7
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                    1506
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           22
<TOTAL-LIABILITIES>                                 22
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                          1451
<SHARES-COMMON-STOCK>                              144
<SHARES-COMMON-PRIOR>                              137
<ACCUMULATED-NII-CURRENT>                           33
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                      1484
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                   38
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                       5
<NET-INVESTMENT-INCOME>                             33
<REALIZED-GAINS-CURRENT>                             0
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                               33
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              8
<NUMBER-OF-SHARES-REDEEMED>                          7
<SHARES-REINVESTED>                                  6
<NET-CHANGE-IN-ASSETS>                              97
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                1
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                     25
<AVERAGE-NET-ASSETS>                              1470
<PER-SHARE-NAV-BEGIN>                            10.09
<PER-SHARE-NII>                                    .23
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.32
<EXPENSE-RATIO>                                    .60
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>
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 semi-annual
report dated 6/30/97 for the JPM Series Trust II - Bond Portfolio and is
qualified in its entirety by reference to such semi-annual report.
</LEGEND>
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                             5177
<INVESTMENTS-AT-VALUE>                            5201
<RECEIVABLES>                                       54
<ASSETS-OTHER>                                      10
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                    5265
<PAYABLE-FOR-SECURITIES>                            15
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           27
<TOTAL-LIABILITIES>                                 42
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                          5027
<SHARES-COMMON-STOCK>                              479
<SHARES-COMMON-PRIOR>                              261
<ACCUMULATED-NII-CURRENT>                          150
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                             21
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                            24
<NET-ASSETS>                                      5223
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                  168
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                      18
<NET-INVESTMENT-INCOME>                            150
<REALIZED-GAINS-CURRENT>                            21
<APPREC-INCREASE-CURRENT>                           17
<NET-CHANGE-FROM-OPS>                              154
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            1
<DISTRIBUTIONS-OF-GAINS>                            20
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            209
<NUMBER-OF-SHARES-REDEEMED>                          5
<SHARES-REINVESTED>                                 14
<NET-CHANGE-IN-ASSETS>                            2440
<ACCUMULATED-NII-PRIOR>                              1
<ACCUMULATED-GAINS-PRIOR>                           20
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                7
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                     40
<AVERAGE-NET-ASSETS>                              3975
<PER-SHARE-NAV-BEGIN>                            10.65
<PER-SHARE-NII>                                    .31
<PER-SHARE-GAIN-APPREC>                          (.02)
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                          .04
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.90
<EXPENSE-RATIO>                                    .75
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>
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 semi-annual
report dated 6/30/97 for the JPM Series Trust II - JPM Equity Portfolio and is
qualified to such semi-annual report.
</LEGEND>
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                             6411
<INVESTMENTS-AT-VALUE>                            7533
<RECEIVABLES>                                      141
<ASSETS-OTHER>                                       6
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                    7680
<PAYABLE-FOR-SECURITIES>                            65
<SENIOR-LONG-TERM-DEBT>                             39
<OTHER-ITEMS-LIABILITIES>                            0
<TOTAL-LIABILITIES>                                104
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                          5725
<SHARES-COMMON-STOCK>                              477
<SHARES-COMMON-PRIOR>                              390
<ACCUMULATED-NII-CURRENT>                           29
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                            700
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                          1122
<NET-ASSETS>                                      7576
<DIVIDEND-INCOME>                                   51
<INTEREST-INCOME>                                    9
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                      74
<NET-INVESTMENT-INCOME>                             29
<REALIZED-GAINS-CURRENT>                           708
<APPREC-INCREASE-CURRENT>                          362
<NET-CHANGE-FROM-OPS>                             1099
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                            62
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                             46
<NUMBER-OF-SHARES-REDEEMED>                          4
<SHARES-REINVESTED>                                 45
<NET-CHANGE-IN-ASSETS>                            2236
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                           61
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                               14
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                     74
<AVERAGE-NET-ASSETS>                              6863
<PER-SHARE-NAV-BEGIN>                            13.68
<PER-SHARE-NII>                                    .06
<PER-SHARE-GAIN-APPREC>                           2.28
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                          .13
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              15.89
<EXPENSE-RATIO>                                    .90
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>
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 semi-annual
report dated 6/30/97 for the JPM Series Trust II - Small Company Portfolio and
is qualified in its entirety by reference to such semi-annual report.
</LEGEND>
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                             4511
<INVESTMENTS-AT-VALUE>                            5087
<RECEIVABLES>                                       34
<ASSETS-OTHER>                                      11
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                    5132
<PAYABLE-FOR-SECURITIES>                            84
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           40
<TOTAL-LIABILITIES>                                125
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                          4273
<SHARES-COMMON-STOCK>                              393
<SHARES-COMMON-PRIOR>                              309
<ACCUMULATED-NII-CURRENT>                           10
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                            150
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                           576
<NET-ASSETS>                                      5009
<DIVIDEND-INCOME>                                   29
<INTEREST-INCOME>                                    6
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                      25
<NET-INVESTMENT-INCOME>                             10
<REALIZED-GAINS-CURRENT>                           167
<APPREC-INCREASE-CURRENT>                          198
<NET-CHANGE-FROM-OPS>                              375
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                           217
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                             33
<NUMBER-OF-SHARES-REDEEMED>                          2
<SHARES-REINVESTED>                                 53
<NET-CHANGE-IN-ASSETS>                            1142
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                          220
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                               13
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                     61
<AVERAGE-NET-ASSETS>                              4420
<PER-SHARE-NAV-BEGIN>                            12.53
<PER-SHARE-NII>                                    .03
<PER-SHARE-GAIN-APPREC>                            .81
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                        (.62)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.75
<EXPENSE-RATIO>                                   1.15
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains summary financial data extracted from the semi-annual
report dated 6/30/97 for the JPM Series Trust II - International Equity
Portfolio and is qualified in its entirety by reference to such semi-annual
report.
</LEGEND>
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                             6074
<INVESTMENTS-AT-VALUE>                            6805
<RECEIVABLES>                                      160
<ASSETS-OTHER>                                     406
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                    7371
<PAYABLE-FOR-SECURITIES>                           233
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           62
<TOTAL-LIABILITIES>                                295
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                          5877
<SHARES-COMMON-STOCK>                              556
<SHARES-COMMON-PRIOR>                              533
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               2
<ACCUMULATED-NET-GAINS>                            446
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                           754
<NET-ASSETS>                                      7076
<DIVIDEND-INCOME>                                   87
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                      39
<NET-INVESTMENT-INCOME>                             48
<REALIZED-GAINS-CURRENT>                           414
<APPREC-INCREASE-CURRENT>                          204
<NET-CHANGE-FROM-OPS>                              666
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                           49
<DISTRIBUTIONS-OF-GAINS>                            64
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                             19
<NUMBER-OF-SHARES-REDEEMED>                         31
<SHARES-REINVESTED>                                 35
<NET-CHANGE-IN-ASSETS>                             826
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                           96
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                               20
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                     91
<AVERAGE-NET-ASSETS>                              6623
<PER-SHARE-NAV-BEGIN>                            11.73
<PER-SHARE-NII>                                    .08
<PER-SHARE-GAIN-APPREC>                           1.12
<PER-SHARE-DIVIDEND>                               .09
<PER-SHARE-DISTRIBUTIONS>                          .11
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.73
<EXPENSE-RATIO>                                   1.20
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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