<PAGE> PAGE 1
000 A000000 08/31/94
000 C000000 319460
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 SMITH BARNEY SHEARSON MANAGED MUNICIPALS FUND
001 B000000 811-3097
001 C000000 6172483403
002 A000000 TWO WORLD TRADE CENTER
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10048
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 GREENWICH STREET ADVISORS OF MUTUAL MGT. CORP
008 B000001 A
008 C000001 801-14437
008 D010001 NEW YORK
008 D020001 NY
008 D030001 10019
010 A000001 SMITH, BARNEY ADVISERS, INC.
010 B000001 801-14158
010 C010001 BOSTON
010 C020001 MA
010 C030001 02108
011 A000001 SMITH BARNEY, INC.
011 B000001 8-8510
011 C010001 NEW YORK
011 C020001 NY
011 C030001 10019
012 A000001 THE SHAREHOLDER SERVICES GROUP, INC.
012 B000001 84-99999
012 C010001 BOSTON
<PAGE> PAGE 2
012 C020001 MA
012 C030001 02109
013 A000001 COOPERS & LYBRAND
013 B010001 BOSTON
013 B020001 MA
013 B030001 02109
014 A000001 SMITH BARNEY, INC.
014 B000001 8-8510
015 A000001 BOSTON SAFE DEPOSIT & TRUST CO.
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02108
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 39
019 C000000 SHEARSONRE
020 A000001 MORGAN STANLEY & CO. INC.
020 B000001 13-2655998
020 C000001 218
020 A000002 GOLDMAN SACHS & CO.
020 B000002 13-2697091
020 C000002 56
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 274
022 A000001 MORGAN STANLEY & CO. INC.
022 B000001 13-2655998
022 C000001 216160
022 D000001 324856
022 A000002 GOLDMAN SACHS & CO.
022 B000002 13-5108880
022 C000002 317595
022 D000002 165708
022 A000003 MORGAN GUARANTY TRUST CO.
022 B000003 13-5123346
022 C000003 209392
022 D000003 180918
022 A000004 MERRILL LYNCH, PIERCE, FENNER & SMITH
022 B000004 13-5674085
022 C000004 186118
022 D000004 156511
022 A000005 SMITH BARNEY DAILY TAX FREE
022 B000005 06-1068202
<PAGE> PAGE 3
022 C000005 75100
022 D000005 248150
022 A000006 PAINE WEBBER INC.
022 B000006 13-2638166
022 C000006 165788
022 D000006 82406
022 A000007 LEHMAN BROTHERS
022 C000007 185015
022 D000007 60258
022 A000008 KIDDER PEABODY & CO., INC.
022 B000008 13-5650440
022 C000008 151900
022 D000008 19008
022 A000009 CHEMICAL SECURITIES
022 C000009 67969
022 D000009 75981
022 A000010 WILLIAM E. SIMON & SONS
022 C000010 80559
022 D000010 32881
023 C000000 2118062
023 D000000 1825531
024 000000 N
025 D000001 0
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 N
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
028 A010000 49127
028 A020000 6609
028 A030000 0
028 A040000 35782
028 B010000 47589
028 B020000 6636
028 B030000 0
028 B040000 26934
028 C010000 47948
028 C020000 6694
028 C030000 0
<PAGE> PAGE 4
028 C040000 29010
028 D010000 31952
028 D020000 6721
028 D030000 0
028 D040000 35708
028 E010000 40617
028 E020000 6750
028 E030000 0
028 E040000 17377
028 F010000 31860
028 F020000 6774
028 F030000 0
028 F040000 32435
028 G010000 249093
028 G020000 40184
028 G030000 0
028 G040000 177246
028 H000000 97141
029 000000 Y
030 A000000 1811
030 B000000 4.50
030 C000000 0.00
031 A000000 181
031 B000000 0
032 000000 0
033 000000 1630
034 000000 Y
035 000000 618
036 A000000 Y
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 Y
041 000000 N
042 A000000 0
042 B000000 0
042 C000000 0
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 0
044 000000 0
045 000000 Y
046 000000 Y
047 000000 Y
048 000000 0.000
048 A010000 500000
048 A020000 0.550
<PAGE> PAGE 5
048 B010000 1000000
048 B020000 0.500
048 C010000 0
048 C020000 0.000
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 1500000
048 K020000 0.450
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 Y
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 Y
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 Y
054 M000000 Y
054 N000000 N
054 O000000 Y
055 A000000 N
055 B000000 N
056 000000 Y
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 1000
062 A000000 Y
062 B000000 0.0
<PAGE> PAGE 6
062 C000000 0.0
062 D000000 0.0
062 E000000 1.5
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 101.3
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 0
063 B000000 24.8
064 A000000 Y
064 B000000 N
066 A000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 Y
070 B010000 N
070 B020000 N
070 C010000 Y
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 Y
070 E020000 Y
070 F010000 N
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 N
070 K020000 N
070 L010000 N
070 L020000 N
070 M010000 N
070 M020000 N
<PAGE> PAGE 7
070 N010000 N
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 1348488
071 B000000 972486
071 C000000 1971144
071 D000000 49
072 A000000 6
072 B000000 73615
072 C000000 0
072 D000000 0
072 E000000 0
072 F000000 3497
072 G000000 1964
072 H000000 0
072 I000000 373
072 J000000 124
072 K000000 0
072 L000000 0
072 M000000 32
072 N000000 0
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 58
072 S000000 44
072 T000000 1011
072 U000000 0
072 V000000 0
072 W000000 1920
072 X000000 9023
072 Y000000 0
072 Z000000 64592
072AA000000 24644
072BB000000 0
072CC010000 0
072CC020000 87769
072DD010000 0
072DD020000 0
072EE000000 0
073 A010000 0.0000
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
<PAGE> PAGE 8
074 A000000 0
074 B000000 0
074 C000000 34900
074 D000000 2272758
074 E000000 0
074 F000000 0
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 13571
074 K000000 0
074 L000000 42280
074 M000000 0
074 N000000 2363509
074 O000000 114046
074 P000000 1406
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 3264
074 S000000 0
074 T000000 2244793
074 U010000 114536
074 U020000 28865
074 V010000 15.65
074 V020000 15.65
074 W000000 0.0000
074 X000000 50455
074 Y000000 0
075 A000000 2185423
075 B000000 0
076 000000 0.00
077 A000000 Y
077 O000000 Y
078 000000 N
SIGNATURE CHRISTINA HAAGE
TITLE ASSISTANT TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>
<NAME>MANAGED MUNICIPALS FUND-CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> FEBRUARY-28-1994
<PERIOD-END> AUGUST-31-1994
<INVESTMENTS-AT-COST> 2,294,450,335
<INVESTMENTS-AT-VALUE> 2,307,658,248
<RECEIVABLES> 55,849,985
<ASSETS-OTHER> 594
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2,363,508,827
<PAYABLE-FOR-SECURITIES> 114,045,710
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4,670,441
<TOTAL-LIABILITIES> 118,716,151
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,181,781,857
<SHARES-COMMON-STOCK> 114,536,392
<SHARES-COMMON-PRIOR> 114,538,900
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (2,063,894)
<ACCUMULATED-NET-GAINS> 51,866,800
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 13,207,913
<NET-ASSETS> 2,244,792,676
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 73,614,724
<OTHER-INCOME> 0
<EXPENSES-NET> 9,022,910
<NET-INVESTMENT-INCOME> 64,591,814
<REALIZED-GAINS-CURRENT> 24,644,348
<APPREC-INCREASE-CURRENT> (87,769,478)
<NET-CHANGE-FROM-OPS> 1,466,684
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 54,377,856
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTION-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7,942,193
<NUMBER-OF-SHARES-REDEEMED> 10,045,717
<SHARES-REINVESTED> 2,101,016
<NET-CHANGE-IN-ASSETS> 47,975,718
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 27,222,452
<OVERDISTRIB-NII-PRIOR> (1,133,368)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3,497,375
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 9,022,910
<AVERAGE-NET-ASSETS> 2,185,422,866
<PER-SHARE-NAV-BEGIN> 16.130
<PER-SHARE-NII> 0.470
<PER-SHARE-GAIN-APPREC> (0.470)
<PER-SHARE-DIVIDEND> (0.480)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 15.650
<EXPENSE-RATIO> 0.72
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<ARTICLE> 6
<SERIES>
[NUMBER]
<NAME>MANAGED MUNICIPALS FUND-CLASS B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> FEBRUARY-28-1994
<PERIOD-END> AUGUST-31-1994
[INVESTMENTS-AT-COST] 2,294,450,335
[INVESTMENTS-AT-VALUE] 2,307,658,248
[RECEIVABLES] 55,849,985
[ASSETS-OTHER] 594
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 2,363,508,827
[PAYABLE-FOR-SECURITIES] 114,045,710
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 4,670,441
[TOTAL-LIABILITIES] 118,716,151
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 2,181,781,857
[SHARES-COMMON-STOCK] 28,865,388
[SHARES-COMMON-PRIOR] 21,680,115
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (2,063,894)
[ACCUMULATED-NET-GAINS] 51,866,800
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 13,207,913
[NET-ASSETS] 2,244,792,676
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 73,614,724
[OTHER-INCOME] 0
[EXPENSES-NET] 9,022,910
[NET-INVESTMENT-INCOME] 64,591,814
[REALIZED-GAINS-CURRENT] 24,644,348
[APPREC-INCREASE-CURRENT] (87,769,478)
[NET-CHANGE-FROM-OPS] 1,466,684
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 11,144,484
[DISTRIBUTIONS-OF-GAINS] 0
<DISTRIBUTION-OTHER> 0
[NUMBER-OF-SHARES-SOLD] 8,018,394
[NUMBER-OF-SHARES-REDEEMED] 1,305,174
[SHARES-REINVESTED] 472,053
[NET-CHANGE-IN-ASSETS] 47,975,718
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 27,222,452
[OVERDISTRIB-NII-PRIOR] (1,133,368)
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 3,497,375
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 9,022,910
[AVERAGE-NET-ASSETS] 2,185,422,866
[PER-SHARE-NAV-BEGIN] 16.130
[PER-SHARE-NII] 0.420
[PER-SHARE-GAIN-APPREC] (0.470)
[PER-SHARE-DIVIDEND] (0.430)
[PER-SHARE-DISTRIBUTIONS] 0.000
[RETURNS-OF-CAPITAL] 0.000
[PER-SHARE-NAV-END] 15.650
[EXPENSE-RATIO] 1.24
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
