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 June 30, 2000 for the J.P. Morgan Bond Portfolio and is qualified
in its entirety by reference to such semi-annual report.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-2000
<PERIOD-END> JUN-30-2000
<INVESTMENTS-AT-COST> 103637
<INVESTMENTS-AT-VALUE> 103338
<RECEIVABLES> 12107
<ASSETS-OTHER> 514
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 115959
<PAYABLE-FOR-SECURITIES> 38040
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3992
<TOTAL-LIABILITIES> 42032
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 74115
<SHARES-COMMON-STOCK> 6504
<SHARES-COMMON-PRIOR> 5896
<ACCUMULATED-NII-CURRENT> 2068
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (2110)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (146)
<NET-ASSETS> 73927
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2322
<OTHER-INCOME> 0
<EXPENSES-NET> 254
<NET-INVESTMENT-INCOME> 2068
<REALIZED-GAINS-CURRENT> (1130)
<APPREC-INCREASE-CURRENT> 1103
<NET-CHANGE-FROM-OPS> 2041
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1238
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2158
<NUMBER-OF-SHARES-REDEEMED> 1659
<SHARES-REINVESTED> 110
<NET-CHANGE-IN-ASSETS> 7709
<ACCUMULATED-NII-PRIOR> 1238
<ACCUMULATED-GAINS-PRIOR> (980)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 99
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 69393
<PER-SHARE-NAV-BEGIN> 11.23
<PER-SHARE-NII> .34
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.20)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.37
<EXPENSE-RATIO> .75
</TABLE>
