<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001000077
<NAME> Balanced Portfolio
<SERIES>
<NUMBER>001
<NAME>Smith Barney Allocation Series
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Jan-31-2001
<PERIOD-END> Jul-31-2000
<INVESTMENTS-AT-COST> 476,714,911
<INVESTMENTS-AT-VALUE> 482,938,183
<RECEIVABLES> 2,059,720
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 484,997,903
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,153,567
<TOTAL-LIABILITIES> 3,153,567
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 469,554,682
<SHARES-COMMON-STOCK> 47,323
<SHARES-COMMON-PRIOR> 2,362,282
<ACCUMULATED-NII-CURRENT> 1,638,118
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 4,428,264
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 6,223,272
<NET-ASSETS> 481,844,336
<DIVIDEND-INCOME> 10,501,651
<INTEREST-INCOME> 66,079
<OTHER-INCOME> 0
<EXPENSES-NET> 2,537,226
<NET-INVESTMENT-INCOME> 8,030,504
<REALIZED-GAINS-CURRENT> 4,560,111
<APPREC-INCREASE-CURRENT> 10,228,723
<NET-CHANGE-FROM-OPS> 22,819,338
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 526,383
<DISTRIBUTIONS-OF-GAINS> 25,084
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 602,428
<NUMBER-OF-SHARES-REDEEMED> 2,959,798
<SHARES-REINVESTED> 42,411
<NET-CHANGE-IN-ASSETS> (42,528,683)
<ACCUMULATED-NII-PRIOR> 1,448,907
<ACCUMULATED-GAINS-PRIOR> 20,482,583
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,537,226
<AVERAGE-NET-ASSETS> 24,658,202
<PER-SHARE-NAV-BEGIN> 12.550
<PER-SHARE-NII> 0.230
<PER-SHARE-GAIN-APPREC> 0.350
<PER-SHARE-DIVIDEND> 0.240
<PER-SHARE-DISTRIBUTIONS> 0.550
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 12.380
<EXPENSE-RATIO> 0.35
</TABLE>
