THE JPM ADVISOR FUNDS SUPPLEMENT DATED JULY 19, 1996 TO THE FOLLOWING
PROSPECTUSES AND THE STATEMENT OF ADDITIONAL INFORMATION DATED JULY 1, 1996:
THE JPM ADVISOR U.S. FIXED INCOME FUND, DATED 3/1/96
THE JPM ADVISOR INTERNATIONAL FIXED INCOME FUND, DATED 1/31/96
THE JPM ADVISOR U.S. EQUITY FUND, DATED 1/31/96
THE JPM ADVISOR U.S. SMALL CAP EQUITY FUND, DATED 1/31/96
THE JPM ADVISOR INTERNATIONAL EQUITY FUND, DATED 1/31/96
(AS SUPPLEMENTED 6/24/96)
THE JPM ADVISOR EMERGING MARKETS EQUITY FUND, DATED 1/31/96
(AS SUPPLEMENTED 7/1/96)
THE JPM ADVISOR EUROPEAN EQUITY FUND, DATED 3/31/95 (AS SUPPLEMENTED 5/1/96)
THE JPM ADVISOR JAPAN EQUITY FUND, DATED 3/31/95 (AS SUPPLEMENTED 5/1/96)
THE JPM ADVISOR ASIA GROWTH FUND, DATED 8/28/95 (AS SUPPLEMENTED 5/1/96)
The following changes are effective August 1, 1996. The Funds' address will be
60 State Street, Boston, Massachusetts 02109. Administrative functions currently
provided to the Funds by Signature Broker-Dealer Services, Inc. will be provided
by Funds Distributor, Inc. ("FDI") or Morgan Guaranty Trust Company of New York
("Morgan"), and FDI will become the distributor of the Funds and exclusive
placement agent for the Funds' corresponding Portfolios. FDI, a registered
broker-dealer, is a wholly owned indirect subsidiary of Boston Institutional
Group, Inc. In addition, certain accounting services provided by Morgan are
being provided by State Street Bank and Trust Company.
Each Fund will continue to invest all its assets in its corresponding Portfolio
and will operate in a master-feeder structure.
There is no adverse impact on the expenses of any Fund as a result of these
changes.
