JPM ADVISOR FUNDS
NSAR-B, 1996-08-13
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<PAGE>      
000 B000000 05/31/96
000 C000000 0000931068
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 THE JPM ADVISOR FUNDS
001 B000000 811-8794
001 C000000 6174230800
002 A000000 6 ST. JAMES AVENUE
002 B000000 BOSTON
002 C000000 MA
002 D010000 02116
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  9
007 C010100  1
007 C010200  2
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
007 C020600 THE JPM ADVISOR U.S. EQUITY FUND
007 C030600 N
007 C010700  7
007 C020700 THE JPM ADVISOR U.S. SMALL CAP FUND
007 C030700 N
007 C010800  8
007 C010900  9
007 C011000 10
010 A00AA01 SIGNATURE BROKER-DEALER SERVICES
010 B00AA01 8-41134
010 C01AA01 BOSTON
010 C02AA01 MA
010 C03AA01 02116
010 A00AA02 MORGAN GUARANTY TRUST COMPANY OF NEW YORK
010 C01AA02 NEW YORK
010 C02AA02 NY
010 C03AA02 10036
010 A00AA03 PIERPONT GROUP, INC.
010 C01AA03 NEW YORK
010 C02AA03 NY
010 C03AA03 10017
011 A00AA01 SIGNATURE BROKER-DEALER SERVICES, INC.
011 B00AA01 8-41134
<PAGE>      
011 C01AA01 BOSTON
011 C02AA01 MA
011 C03AA01 02116
012 A00AA01 STATE STREET BANK & TRUST COMPANY
012 B00AA01 85-50003
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02101
012 A00AA02 MORGAN GUARANTY TRUST COMPANY OF NEW YORK
012 B00AA02 84-0000000
012 C01AA02 NEW YORK
012 C02AA02 NY
012 C03AA02 10036
013 A00AA01 PRICE WATERHOUSE LLP
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10023
014 A00AA01 SIGNATURE BROKER-DEALER SERVICES, INC
014 B00AA01 8-41134
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   40
019 C00AA00 JPM/PIERPO
020 C000001      0
020 C000002      0
020 C000003      0
020 C000004      0
020 C000005      0
020 C000006      0
020 C000007      0
020 C000008      0
020 C000009      0
020 C000010      0
021  000000        0
022 A000001 THE SELECTED U.S. EQUITY PORTFOLIO
022 B000001 04-3194421
022 C000001       135
022 D000001         0
022 A000002 THE U.S. SMALL COMPANY PORTFOLIO
022 B000002 04-3194469
022 C000002      1325
022 D000002      1252
022 C000003         0
022 D000003         0
022 C000004         0
<PAGE>      
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023 D000000       1252
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026 G020000 N
026 H000000 N
027  000000 Y
029  00AA00 N
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031 B00AA00      0
032  00AA00      0
033  00AA00      0
034  00AA00 N
035  00AA00      0
036 B00AA00      0
037  00AA00 N
038  00AA00      0
039  00AA00 N
040  00AA00 N
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042 C00AA00   0
042 D00AA00   0
042 E00AA00   0
042 F00AA00   0
042 G00AA00   0
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<PAGE>      
045  00AA00 N
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048 B01AA00        0
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048 C01AA00        0
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048 I01AA00        0
048 I02AA00 0.000
048 J01AA00        0
048 J02AA00 0.000
048 K01AA00        0
048 K02AA00 0.000
055 A00AA00 N
055 B00AA00 N
056  00AA00 Y
057  00AA00 N
058 A00AA00 N
059  00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061  00AA00     5000
062 A00AA00 N
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062 O00AA00   0.0
062 P00AA00   0.0
062 Q00AA00   0.0
062 R00AA00   0.0
<PAGE>      
066 A00AA00 N
067  00AA00 N
068 A00AA00 N
068 B00AA00 N
069  00AA00 N
070 A01AA00 N
070 A02AA00 N
070 B01AA00 N
070 B02AA00 N
070 C01AA00 N
070 C02AA00 N
070 D01AA00 N
070 D02AA00 N
070 E01AA00 N
070 E02AA00 N
070 F01AA00 N
070 F02AA00 N
070 G01AA00 N
070 G02AA00 N
070 H01AA00 N
070 H02AA00 N
070 I01AA00 N
070 I02AA00 N
070 J01AA00 N
070 J02AA00 N
070 K01AA00 Y
070 K02AA00 Y
070 L01AA00 N
070 L02AA00 N
070 M01AA00 N
070 M02AA00 N
070 N01AA00 N
070 N02AA00 N
070 O01AA00 N
070 O02AA00 N
070 P01AA00 N
070 P02AA00 N
070 Q01AA00 N
070 Q02AA00 N
070 R01AA00 N
070 R02AA00 N
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077 H000000 N
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077 J000000 N
<PAGE>      
077 K000000 N
077 L000000 N
077 M000000 N
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077 Q010000 Y
077 Q020000 N
077 Q030000 N
078  000000 N
080 A00AA00 GULF INSURANCE COMPANY
080 C00AA00      250
081 A00AA00 N
081 B00AA00   0
082 A00AA00 Y
082 B00AA00       10
083 A00AA00 N
083 B00AA00        0
084 A00AA00 N
084 B00AA00        0
085 A00AA00 Y
085 B00AA00 N
086 A010000      0
086 A020000      0
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028 A010600         0
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<PAGE>      
028 E020600         0
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028 F040600         0
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072 O000600        0
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072DD020600        0
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073 A010600   0.0000
073 A020600   0.0000
<PAGE>      
073 B000600   0.0000
073 C000600   0.0000
074 A000600        0
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074 R040600       32
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074 U020600        0
074 V010600    10.73
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074 W000600   0.0000
074 X000600        1
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075 A000600        0
075 B000600       49
076  000600     0.00
028 A010700         0
028 A020700         0
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028 A040700         0
028 B010700         5
028 B020700         0
028 B030700         0
028 B040700         0
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<PAGE>      
028 E010700        52
028 E020700         0
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028 F010700      1268
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071 A000700         0
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072 B000700        0
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072 D000700        0
072 E000700        1
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072 H000700        0
072 I000700        6
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072 L000700        7
072 M000700        5
072 N000700        7
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072 R000700        9
072 S000700        2
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072EE000700        0
073 A010700   0.0000
<PAGE>      
073 A020700   0.0000
073 B000700   0.0000
073 C000700   0.0000
074 A000700        0
074 B000700        0
074 C000700        0
074 D000700        0
074 E000700        0
074 F000700       71
074 G000700        0
074 H000700        0
074 I000700        0
074 J000700        0
074 K000700        0
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074 M000700       30
074 N000700      101
074 O000700        0
074 P000700        0
074 Q000700        0
074 R010700        0
074 R020700        0
074 R030700        0
074 R040700       30
074 S000700        0
074 T000700       71
074 U010700        5
074 U020700        0
074 V010700    13.38
074 V020700     0.00
074 W000700   0.0000
074 X000700        4
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075 A000700        0
075 B000700       80
076  000700     0.00
SIGNATURE   JOHN R. ELDER                                
TITLE       TREASURER           
 


<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains summary financial data extracted from the annual report
dated May 31, 1996 for the JPM Advisor U.S. Select Equity Fund and is qualified
in its entirety by reference to such annual report.
</LEGEND>
<CIK> 0000931068
<NAME> THE JPM ADVISOR FUNDS
<SERIES>
   <NUMBER> 060
   <NAME> THE JPM ADVISOR U.S. SELECT EQUITY FUND
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          MAY-31-1996
<PERIOD-START>                             JUN-01-1995
<PERIOD-END>                               MAY-31-1996
<INVESTMENTS-AT-COST>                                0
<INVESTMENTS-AT-VALUE>                             139
<RECEIVABLES>                                        0
<ASSETS-OTHER>                                      32
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                     171
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           32
<TOTAL-LIABILITIES>                                 32
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                           135
<SHARES-COMMON-STOCK>                               13
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              2
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             2
<NET-ASSETS>                                       139
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                       0
<NET-INVESTMENT-INCOME>                              0
<REALIZED-GAINS-CURRENT>                             2
<APPREC-INCREASE-CURRENT>                            2
<NET-CHANGE-FROM-OPS>                                4
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                             13
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                              13
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                     48
<AVERAGE-NET-ASSETS>                                49
<PER-SHARE-NAV-BEGIN>                            10.00
<PER-SHARE-NII>                                   0.02
<PER-SHARE-GAIN-APPREC>                           0.71
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.73
<EXPENSE-RATIO>                                      0
<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 annual report
dated May 31, 1996 for the JPM Advisor U.S. Small Cap Fund and is qualified in
its entirety by reference to such annual report.
</LEGEND>
<CIK> 0000931068
<NAME> THE JPM ADVISOR FUNDS
<SERIES>
   <NUMBER> 070
   <NAME> THE JPM ADVISOR U.S. SMALL CAP FUND
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          MAY-31-1996
<PERIOD-START>                             JUN-01-1995
<PERIOD-END>                               MAY-31-1996
<INVESTMENTS-AT-COST>                                0
<INVESTMENTS-AT-VALUE>                              71
<RECEIVABLES>                                        0
<ASSETS-OTHER>                                      30
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                     101
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           30
<TOTAL-LIABILITIES>                                 30
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                            73
<SHARES-COMMON-STOCK>                                5
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              6
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                           (8)
<NET-ASSETS>                                        71
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                       0
<NET-INVESTMENT-INCOME>                              0
<REALIZED-GAINS-CURRENT>                             6
<APPREC-INCREASE-CURRENT>                            8
<NET-CHANGE-FROM-OPS>                                2
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          1,325
<NUMBER-OF-SHARES-REDEEMED>                      1,252
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                              73
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                     40
<AVERAGE-NET-ASSETS>                                80
<PER-SHARE-NAV-BEGIN>                            11.32
<PER-SHARE-NII>                                 (0.03)
<PER-SHARE-GAIN-APPREC>                           2.09
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.38
<EXPENSE-RATIO>                                   1.29
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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