SMITH BARNEY SHEARSON INVESTMENT FUNDS INC
24F-2NT, 1998-07-10
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

FORM 24F-2
Annual Notice of Securities Sold
Pursuant to Rule 24f-2


1.

Name and address of issuer:
Smith Barney Investment Funds Inc.
388 Greenwich Street 
New York, NY 10013


2.

Name of each series or class of securities for which this Form is 
filed (If the Form is being filed for all series and classes of 
securities of the issuer, check the box but do not list series of 
classes):                               [  ]
Smith Barney Hansberger Global Value Fund
Smith Barney Hansberger Global Small Cap Value Fund


3.

Investment Company Act File Number:
811-3275
Securities Act File Number:
02-74288


4.(
a)

Last day of fiscal year for which this Form is filed:
April 30, 1998

4.(
b)
[   ]    Check box if this Form is being filed late (i.e., more 
than 90 calendar days after the end of the
          issuer's fiscal year).

4.(
c)
[   ]    Check box if this is the last time the issuer will be 
filing this form.


5.

Calculation of registration fee:

(i)    Aggregate sale price of securities sold during the fiscal 
year
pursuant to section 24(f):                                       
$ 156,045,199


(ii)   Aggregate price of securities redeemed or
        repurchased during the fiscal year:                      
$ 1,634,336


(iii)  Aggregate price of securities redeemed or 
        repurchased during any prior fiscal year ending no
        earlier than October 11, 1995 that were not 
        previously used to reduce registration fees payable
        to the commission:                                       
$________0 


(iv)  Total available redemption credits [add Item 5(ii) and 
(iii):                                  - $ 1,634,336


(v)  Net sales - if Item 5(i) is greater than Item 5(iv)
      [subtract Item 5(iv)from Item 5(i)]:                 
$ 154,410,863


(vi)  Redemption credits available for use in 
future years            $_(__________)_
       -if Item 5(I) is less than Item 5(iv) 
[subtract Item               
        5(iv) from Item 5(i):   



(vii)Multiplier for determining registration fee        
x _0.000295



(viii) Registration fee due [multiply Item 5(v) by Item
         5(vii) (enter *0* if no fee is due):            
= $ 45,551.20

6.
Prepaid Shares

If the response to item 5(i) was determined by deducting an amount 
of securities that were registered under the Securities Act of 
1933 pursuant to rule 24e-2 as in effect before [effective date of 
rescisison of rule 24e-2], then report the amount of securities 
(number of shares or other units) deducted here: ________.  If 
there is a number of shares of other units that were registered 
pursuant to rule 24e-2 remaining unsold at the end of the fiscal 
year for which this form is filed that are available for use by 
the issuer in future fiscal years, then state that number here: 
__________.
7.
Interest due - if this Form is being filed more than 90 days after 
the end of the issuer's fiscal year:     
                                                                   
                                                                   
+ $__________


8.
Total of the amount of the registration fee due plus any interest 
due [line 5(viii) plus line 7]:

                                                                   
= _$ 45,551.20

9.
Date the registration fee and any interest payment was sent to the 
Commission's lockbox depository:
CIK# 355747

      Method of Delivery:

                                      [X]        Wire Transfer
                                      [   ]         Mail or other 
means


SIGNATURES
This report has been signed below by the following persons on 
behalf of the issuer and in the capacities and on the dates 
indicated.

By (Signature and Title)* ___________________________________
                                                _Irving P. David - 
Controller_______

Date _07/07/98_

*Please print the name and title of the signing officer below the 
signature.






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