CONSENT OF INDEPENDENT ACCOUNTANTS



We hereby consent to the incorporation by reference in the Combined
Prospectus/Proxy Statement and Statement of Additional Information constituting
parts of this registration statement on Form N-14 (the "N-14 Registration
Statement") of our reports dated August 16, 2000, relating to the June 30, 2000
financial statements and financial highlights of J.P. Morgan Institutional
Diversified Fund and the financial statements and supplemental data of The
Diversified Portfolio, which appear in the June 30, 2000 Annual Reports to
Shareholders, which are also incorporated by reference into the N-14
Registration Statement. We also consent to the references to us under the
headings "Certain Arrangements with Service Providers- Other Services,"
"Accountants," "Financial Statements and Experts" and "Financial Statements" in
such Registration Statement.

We also consent to the references to us under the headings "Financial
Highlights," "Independent Accountants" and "Financial Statements" in J.P. Morgan
Institutional Diversified Fund's registration statement on Form N-1A, dated
November 1, 2000, which is incorporated by reference into this N-14 Registration
Statement.




PricewaterhouseCoopers LLP
1177 Avenue of the Americas
New York, NY 10036
April 12, 2001



                       CONSENT OF INDEPENDENT ACCOUNTANTS



We hereby consent to the incorporation by reference in the Combined
Prospectus/Proxy Statement and Statement of Additional Information constituting
parts of this registration statement on Form N-14 (the "N-14 Registration
Statement") of our reports dated August 16, 2000, relating to the June 30, 2000
financial statements and financial highlights of J.P. Morgan Diversified Fund
and the financial statements and supplemental data of The Diversified Portfolio,
which appear in the June 30, 2000 Annual Reports to Shareholders, which are also
incorporated by reference into the N-14 Registration Statement. We also consent
to the references to us under the headings "Certain Arrangements with Service
Providers- Other Services," "Accountants," "Financial Statements and Experts"
and "Financial Statements" in such Registration Statement.

We also consent to the references to us under the headings "Financial
Highlights," "Independent Accountants" and "Financial Statements" in J.P. Morgan
Diversified Fund's registration statement on Form N-1A, dated November 1, 2000,
which is incorporated by reference into this N-14 Registration Statement.




PricewaterhouseCoopers LLP
1177 Avenue of the Americas
New York, NY 10036
April 12, 2001