<PAGE> PAGE 1
000 B000000 12/31/1999
000 C000000 355747
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 SMITH BARNEY INVESTMENTS FUNDS INC.
001 B000000 811-3275
001 C000000 2128166556
002 A000000 388 GREENWICH STREET
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10013
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 4
007 C010100 1
007 C020100 INVESTMENT GRADE BOND FUND
007 C030100 N
007 C010200 2
007 C020200 GOVERNMENT SECURITIES PORTFOLIO
007 C030200 N
007 C010300 3
007 C020300 CONCERT PEACHTREE GROWTH FUND
007 C030300 N
007 C010400 4
007 C020400 SMITH BARNEY CONTRARIAN FUND
007 C030400 N
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 SSB CITI FUND MANAGEMENT LLC.
008 B00AA01 A
008 C00AA01 801-000000
008 D01AA01 NEW YORK
008 D02AA01 NY
008 D03AA01 10013
010 A00AA01 SSB CITI FUND MANAGEMENT INC.
010 C01AA01 NEW YORK
010 C02AA01 NY
010 C03AA01 10013
011 A00AA01 CFBDS, INC.
<PAGE> PAGE 2
011 B00AA01 8-00000000
011 C01AA01 BOSTON
011 C02AA01 MA
011 C03AA01 02109
011 C04AA01 5408
012 A00AA01 FIRST DATA INVESTOR SERVICES GROUP, INC.
012 B00AA01 84-0000000
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02104
013 A00AA01 KPMG PEAT MARWICK LLP
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10017
015 A00AA01 PNC BANK
015 B00AA01 C
015 C01AA01 PHILIDELPHIA
015 C02AA01 PA
015 C03AA01 19101
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 167
019 C00AA00 BARNEY0000
020 A000001 LEHMAN BROTHERS
020 B000001 13-2518466
020 C000001 136
020 A000002 GOLDMAN SACHS
020 B000002 13-5108880
020 C000002 120
020 A000003 JEFFERIES & CO.
020 B000003 95-2622900
020 C000003 111
020 A000004 DONALDSON, LUFKIN JERETTE
020 B000004 13-2741729
020 C000004 92
020 A000005 WEEDEN
020 B000005 13-3364318
020 C000005 81
020 A000006 MERRILL LYNCH
020 B000006 13-5674085
020 C000006 70
020 A000007 PAINE WEBBER
020 B000007 13-2638166
020 C000007 58
020 A000008 CS FIRST BOSTON
020 B000008 13-5659485
020 C000008 54
020 A000009 BERNSTEIN
020 B000009 13-2625847
020 C000009 52
<PAGE> PAGE 3
020 A000010 PRUDENTIAL
020 B000010 22-2347336
020 C000010 49
021 000000 823
022 A000001 MORGAN STANLEY
022 B000001 13-2655998
022 C000001 6821397
022 D000001 216723
022 A000002 GOLDMAN SACHS
022 B000002 13-5108880
022 C000002 5007958
022 D000002 74089
022 A000003 PAINE WEBBER
022 B000003 13-2638166
022 C000003 1047770
022 D000003 555098
022 A000004 J.P. MORGAN SECURITIES, INC.
022 B000004 13-3224016
022 C000004 1485643
022 D000004 29748
022 A000005 UBS WARBURG DILLON READE
022 B000005 13-3873456
022 C000005 1031542
022 D000005 36676
022 A000006 GREENWICH CAPITAL
022 B000006 N/A
022 C000006 179288
022 D000006 458220
022 A000007 DONALDSON, LUFKIN JERETTE
022 B000007 13-2741729
022 C000007 173217
022 D000007 302801
022 A000008 CHASE SECURITIES
022 B000008 13-3112953
022 C000008 266513
022 D000008 0
022 A000009 PRUDENTIAL SECURITIES
022 B000009 22-2347336
022 C000009 72540
022 D000009 92679
022 A000010 BEAR STEARNS
022 B000010 13-3299429
022 C000010 67467
022 D000010 94399
023 C000000 16153335
023 D000000 1860433
024 00AA00 N
025 D00AA01 0
025 D00AA02 0
025 D00AA03 0
025 D00AA04 0
<PAGE> PAGE 4
025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
027 000000 Y
077 A000000 N
078 000000 N
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 C00AA00 120000
081 A00AA00 Y
081 B00AA00 167
082 A00AA00 N
082 B00AA00 0
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
028 A010100 7357
028 A020100 0
028 A030100 0
028 A040100 12986
028 B010100 12000
028 B020100 3233
028 B030100 0
028 B040100 12680
028 C010100 5179
028 C020100 1602
028 C030100 0
028 C040100 10256
028 D010100 6470
028 D020100 0
028 D030100 0
028 D040100 9114
028 E010100 12683
028 E020100 3168
028 E030100 0
028 E040100 12811
<PAGE> PAGE 5
028 F010100 13046
028 F020100 1542
028 F030100 0
028 F040100 22239
028 G010100 56735
028 G020100 9545
028 G030100 0
028 G040100 80086
028 H000100 21380
029 000100 Y
030 A000100 264
030 B000100 4.71
030 C000100 1.00
031 A000100 264
031 B000100 0
032 000100 0
033 000100 0
034 000100 Y
035 000100 370
036 A000100 Y
036 B000100 0
037 000100 N
038 000100 0
039 000100 N
040 000100 Y
041 000100 Y
042 A000100 0
042 B000100 0
042 C000100 0
042 D000100 0
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 0
043 000100 2422
044 000100 0
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.000
048 A010100 500000
048 A020100 0.450
048 B010100 0
048 B020100 0.000
048 C010100 0
048 C020100 0.000
048 D010100 0
048 D020100 0.000
048 E010100 0
048 E020100 0.000
048 F010100 0
<PAGE> PAGE 6
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 3000000
048 K020100 0.420
049 000100 N
050 000100 N
051 000100 N
052 000100 N
053 A000100 N
061 000100 0
062 A000100 Y
062 B000100 0.0
062 C000100 0.0
062 D000100 9.0
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 16.3
062 M000100 15.0
062 N000100 13.0
062 O000100 0.0
062 P000100 63.0
062 Q000100 0.0
062 R000100 0.0
063 A000100 0
063 B000100 21.9
064 A000100 N
064 B000100 N
066 A000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 Y
070 B010100 N
070 B020100 N
070 C010100 N
070 C020100 N
070 D010100 N
<PAGE> PAGE 7
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 N
070 J020100 N
070 K010100 N
070 K020100 N
070 L010100 Y
070 L020100 N
070 M010100 N
070 M020100 N
070 N010100 Y
070 N020100 Y
070 O010100 N
070 O020100 N
070 P010100 N
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 831845
071 B000100 870870
071 C000100 5654446
071 D000100 147
072 A000100 12
072 B000100 40548
072 C000100 0
072 D000100 0
072 E000100 0
072 F000100 2595
072 G000100 1148
072 H000100 0
072 I000100 392
072 J000100 24
072 K000100 0
072 L000100 0
072 M000100 42
072 N000100 73
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 26
<PAGE> PAGE 8
072 S000100 22
072 T000100 2422
072 U000100 0
072 V000100 64
072 W000100 19
072 X000100 6827
072 Y000100 0
072 Z000100 33721
072AA000100 0
072BB000100 14376
072CC010100 0
072CC020100 76014
072DD010100 14330
072DD020100 19399
072EE000100 0
073 A010100 0.7300
073 A020100 2.0900
073 B000100 0.0000
073 C000100 0.0400
074 A000100 1
074 B000100 49503
074 C000100 0
074 D000100 472932
074 E000100 0
074 F000100 0
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 0
074 K000100 0
074 L000100 9801
074 M000100 0
074 N000100 532237
074 O000100 0
074 P000100 300
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 1425
074 S000100 0
074 T000100 530512
074 U010100 18818
074 U020100 28486
074 V010100 11.22
074 V020100 33.62
074 W000100 0.0000
074 X000100 25
074 Y000100 0
075 A000100 0
075 B000100 581365
<PAGE> PAGE 9
076 000100 0.00
028 A010200 15909
028 A020200 0
028 A030200 0
028 A040200 18139
028 B010200 10478
028 B020200 2907
028 B030200 0
028 B040200 14859
028 C010200 3642
028 C020200 1428
028 C030200 0
028 C040200 10882
028 D010200 7055
028 D020200 0
028 D030200 0
028 D040200 11520
028 E010200 14178
028 E020200 2847
028 E030200 0
028 E040200 11966
028 F010200 7920
028 F020200 1374
028 F030200 0
028 F040200 14781
028 G010200 59182
028 G020200 8556
028 G030200 0
028 G040200 82147
028 H000200 32345
029 000200 Y
030 A000200 235
030 B000200 4.50
030 C000200 0.00
031 A000200 235
031 B000200 0
032 000200 0
033 000200 0
034 000200 Y
035 000200 120
036 A000200 Y
036 B000200 0
037 000200 N
038 000200 0
039 000200 Y
040 000200 Y
041 000200 Y
042 A000200 0
042 B000200 0
042 C000200 0
042 D000200 0
<PAGE> PAGE 10
042 E000200 0
042 F000200 0
042 G000200 0
042 H000200 0
043 000200 1438
044 000200 0
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.000
048 A010200 2000000
048 A020200 0.350
048 B010200 2000000
048 B020200 0.300
048 C010200 2000000
048 C020200 0.250
048 D010200 2000000
048 D020200 0.200
048 E010200 0
048 E020200 0.150
048 F010200 0
048 F020200 0.000
048 G010200 0
048 G020200 0.000
048 H010200 0
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 0
048 K020200 0.000
049 000200 N
050 000200 N
051 000200 N
052 000200 N
053 A000200 N
062 A000200 Y
062 B000200 0.0
062 C000200 0.0
062 D000200 0.0
062 E000200 0.0
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 0.0
062 N000200 99.8
<PAGE> PAGE 11
062 O000200 0.0
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
063 A000200 0
063 B000200 21.0
064 A000200 N
064 B000200 N
066 A000200 N
067 000200 N
068 A000200 N
068 B000200 N
069 000200 N
070 A010200 Y
070 A020200 Y
070 B010200 N
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 Y
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 N
070 J020200 N
070 K010200 N
070 K020200 N
070 L010200 N
070 L020200 N
070 M010200 N
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 N
070 O020200 N
070 P010200 N
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 1208800
071 B000200 1136628
<PAGE> PAGE 12
071 C000200 708123
071 D000200 161
072 A000200 12
072 B000200 41760
072 C000200 0
072 D000200 0
072 E000200 0
072 F000200 2376
072 G000200 1358
072 H000200 0
072 I000200 339
072 J000200 40
072 K000200 0
072 L000200 81
072 M000200 45
072 N000200 57
072 O000200 0
072 P000200 48
072 Q000200 0
072 R000200 25
072 S000200 17
072 T000200 1438
072 U000200 0
072 V000200 0
072 W000200 35
072 X000200 5859
072 Y000200 0
072 Z000200 35901
072AA000200 0
072BB000200 45976
072CC010200 0
072CC020200 25346
072DD010200 16539
072DD020200 19329
072EE000200 0
073 A010200 0.4900
073 A020200 0.0000
073 B000200 0.0000
073 C000200 0.0000
074 A000200 0
074 B000200 0
074 C000200 0
074 D000200 635697
074 E000200 0
074 F000200 0
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 0
074 K000200 0
074 L000200 3134
<PAGE> PAGE 13
074 M000200 0
074 N000200 638831
074 O000200 0
074 P000200 0
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 1919
074 S000200 0
074 T000200 636912
074 U010200 32037
074 U020200 38776
074 V010200 8.99
074 V020200 8.99
074 W000200 0.0000
074 X000200 22399
074 Y000200 0
075 A000200 678880
075 B000200 0
076 000200 0.00
028 A010300 6395
028 A020300 0
028 A030300 0
028 A040300 2892
028 B010300 8431
028 B020300 0
028 B030300 0
028 B040300 3668
028 C010300 9967
028 C020300 0
028 C030300 0
028 C040300 2713
028 D010300 5461
028 D020300 0
028 D030300 0
028 D040300 2615
028 E010300 23753
028 E020300 22126
028 E030300 0
028 E040300 19235
028 F010300 12406
028 F020300 0
028 F030300 0
028 F040300 7535
028 G010300 66413
028 G020300 22126
028 G030300 0
028 G040300 38658
028 H000300 36700
029 000300 Y
<PAGE> PAGE 14
030 A000300 15
030 B000300 5.00
030 C000300 1.00
031 A000300 15
031 B000300 0
032 000300 0
033 000300 0
034 000300 Y
035 000300 3
036 A000300 Y
036 B000300 0
037 000300 N
038 000300 0
039 000300 N
040 000300 Y
041 000300 Y
042 A000300 0
042 B000300 0
042 C000300 0
042 D000300 0
042 E000300 0
042 F000300 0
042 G000300 0
042 H000300 100
043 000300 994
044 000300 0
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.000
048 A010300 250000
048 A020300 1.000
048 B010300 250000
048 B020300 0.850
048 C010300 0
048 C020300 0.000
048 D010300 0
048 D020300 0.000
048 E010300 0
048 E020300 0.000
048 F010300 0
048 F020300 0.000
048 G010300 0
048 G020300 0.000
048 H010300 0
048 H020300 0.000
048 I010300 0
048 I020300 0.000
048 J010300 0
048 J020300 0.000
048 K010300 0
<PAGE> PAGE 15
048 K020300 0.000
062 A000300 N
062 B000300 0.0
062 C000300 0.0
062 D000300 0.0
062 E000300 0.0
062 F000300 0.0
062 G000300 0.0
062 H000300 0.0
062 I000300 0.0
062 J000300 0.0
062 K000300 0.0
062 L000300 0.0
062 M000300 0.0
062 N000300 0.0
062 O000300 0.0
062 P000300 0.0
062 Q000300 0.0
062 R000300 0.0
063 A000300 0
063 B000300 0.0
066 A000300 Y
066 B000300 N
066 C000300 Y
066 D000300 N
066 E000300 N
066 F000300 N
066 G000300 N
067 000300 N
068 A000300 N
068 B000300 N
069 000300 N
070 A010300 N
070 A020300 Y
070 B010300 N
070 B020300 N
070 C010300 N
070 C020300 N
070 D010300 N
070 D020300 N
070 E010300 N
070 E020300 N
070 F010300 N
070 F020300 N
070 G010300 N
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 N
<PAGE> PAGE 16
070 J020300 N
070 K010300 N
070 K020300 N
070 L010300 N
070 L020300 N
070 M010300 N
070 M020300 N
070 N010300 N
070 N020300 Y
070 O010300 N
070 O020300 N
070 P010300 N
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
071 A000300 383486
071 B000300 347558
071 C000300 369083
071 D000300 94
072 A000300 12
072 B000300 467
072 C000300 2572
072 D000300 0
072 E000300 0
072 F000300 3598
072 G000300 0
072 H000300 0
072 I000300 341
072 J000300 0
072 K000300 0
072 L000300 0
072 M000300 35
072 N000300 77
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 37
072 S000300 30
072 T000300 994
072 U000300 0
072 V000300 45
072 W000300 9
072 X000300 5166
072 Y000300 0
072 Z000300 -2131
072AA000300 57224
072BB000300 0
072CC010300 20550
072CC020300 0
<PAGE> PAGE 17
072DD010300 0
072DD020300 0
072EE000300 47172
073 A010300 0.0000
073 A020300 0.0000
073 B000300 2.0900
073 C000300 0.0000
074 A000300 1
074 B000300 1342
074 C000300 0
074 D000300 0
074 E000300 0
074 F000300 445778
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 168
074 K000300 0
074 L000300 314
074 M000300 0
074 N000300 447603
074 O000300 0
074 P000300 353
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 279
074 S000300 0
074 T000300 446971
074 U010300 6471
074 U020300 16977
074 V010300 19.10
074 V020300 56.33
074 W000300 0.0000
074 X000300 39762
074 Y000300 0
075 A000300 0
075 B000300 378220
076 000300 0.00
028 A010400 1642
028 A020400 0
028 A030400 0
028 A040400 11392
028 B010400 4430
028 B020400 0
028 B030400 0
028 B040400 18235
028 C010400 1908
028 C020400 0
028 C030400 0
<PAGE> PAGE 18
028 C040400 14235
028 D010400 1332
028 D020400 0
028 D030400 0
028 D040400 14269
028 E010400 20694
028 E020400 18108
028 E030400 0
028 E040400 31252
028 F010400 5392
028 F020400 836
028 F030400 0
028 F040400 26304
028 G010400 35398
028 G020400 18944
028 G030400 0
028 G040400 115687
028 H000400 12342
029 000400 Y
030 A000400 22
030 B000400 5.00
030 C000400 1.00
031 A000400 22
031 B000400 0
032 000400 0
033 000400 0
034 000400 Y
035 000400 929
036 A000400 Y
036 B000400 0
037 000400 N
038 000400 0
039 000400 N
040 000400 Y
041 000400 Y
042 A000400 0
042 B000400 0
042 C000400 0
042 D000400 0
042 E000400 0
042 F000400 0
042 G000400 0
042 H000400 100
043 000400 2511
044 000400 0
045 000400 Y
046 000400 N
047 000400 Y
048 000400 0.850
048 A010400 0
048 A020400 0.000
<PAGE> PAGE 19
048 B010400 0
048 B020400 0.000
048 C010400 0
048 C020400 0.000
048 D010400 0
048 D020400 0.000
048 E010400 0
048 E020400 0.000
048 F010400 0
048 F020400 0.000
048 G010400 0
048 G020400 0.000
048 H010400 0
048 H020400 0.000
048 I010400 0
048 I020400 0.000
048 J010400 0
048 J020400 0.000
048 K010400 0
048 K020400 0.000
049 000400 N
050 000400 N
051 000400 N
052 000400 N
053 A000400 N
062 A000400 N
062 B000400 0.0
062 C000400 0.0
062 D000400 0.0
062 E000400 0.0
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 0.0
062 J000400 0.0
062 K000400 0.0
062 L000400 0.0
062 M000400 0.0
062 N000400 0.0
062 O000400 0.0
062 P000400 0.0
062 Q000400 0.0
062 R000400 0.0
063 A000400 0
063 B000400 0.0
066 A000400 Y
066 B000400 N
066 C000400 N
066 D000400 Y
066 E000400 N
066 F000400 N
<PAGE> PAGE 20
066 G000400 N
067 000400 N
068 A000400 N
068 B000400 N
069 000400 N
070 A010400 Y
070 A020400 Y
070 B010400 Y
070 B020400 Y
070 C010400 Y
070 C020400 N
070 D010400 Y
070 D020400 N
070 E010400 N
070 E020400 N
070 F010400 N
070 F020400 N
070 G010400 Y
070 G020400 N
070 H010400 N
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
070 K020400 Y
070 L010400 Y
070 L020400 Y
070 M010400 Y
070 M020400 N
070 N010400 Y
070 N020400 Y
070 O010400 N
070 O020400 N
070 P010400 N
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 Y
070 R020400 N
071 A000400 354626
071 B000400 572527
071 C000400 396946
071 D000400 89
072 A000400 12
072 B000400 443
072 C000400 8465
072 D000400 0
072 E000400 0
072 F000400 3442
<PAGE> PAGE 21
072 G000400 0
072 H000400 0
072 I000400 389
072 J000400 19
072 K000400 0
072 L000400 0
072 M000400 31
072 N000400 3
072 O000400 0
072 P000400 0
072 Q000400 0
072 R000400 31
072 S000400 20
072 T000400 2511
072 U000400 0
072 V000400 85
072 W000400 12
072 X000400 6543
072 Y000400 0
072 Z000400 2365
072AA000400 44461
072BB000400 0
072CC010400 0
072CC020400 66691
072DD010400 529
072DD020400 1685
072EE000400 41630
073 A010400 0.1100
073 A020400 0.2100
073 B000400 1.5200
073 C000400 0.0000
074 A000400 1
074 B000400 5614
074 C000400 0
074 D000400 0
074 E000400 0
074 F000400 278544
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 1412
074 K000400 0
074 L000400 635
074 M000400 0
074 N000400 286206
074 O000400 8
074 P000400 225
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
<PAGE> PAGE 22
074 R040400 1265
074 S000400 0
074 T000400 284708
074 U010400 4605
074 U020400 20672
074 V010400 11.33
074 V020400 33.69
074 W000400 0.0000
074 X000400 20722
074 Y000400 0
075 A000400 0
075 B000400 351664
076 000400 0.00
028 A010500 121700
028 A020500 0
028 A030500 0
028 A040500 131944
028 B010500 94455
028 B020500 0
028 B030500 0
028 B040500 127975
028 C010500 41671
028 C020500 0
028 C030500 0
028 C040500 75763
028 D010500 327
028 D020500 0
028 D030500 0
028 D040500 12254
028 E010500 218
028 E020500 0
028 E030500 0
028 E040500 9062
028 F010500 230
028 F020500 0
028 F030500 0
028 F040500 12267
028 G010500 258601
028 G020500 0
028 G030500 0
028 G040500 369265
028 H000500 257304
029 000500 Y
030 A000500 12
030 B000500 5.00
030 C000500 0.00
031 A000500 0
031 B000500 0
032 000500 12
033 000500 0
034 000500 Y
<PAGE> PAGE 23
035 000500 235
036 A000500 Y
036 B000500 0
037 000500 N
038 000500 0
039 000500 N
040 000500 Y
041 000500 Y
042 A000500 0
042 B000500 0
042 C000500 0
042 D000500 0
042 E000500 0
042 F000500 0
042 G000500 100
042 H000500 0
043 000500 845
044 000500 0
045 000500 Y
046 000500 N
047 000500 Y
048 000500 0.550
048 A010500 0
048 A020500 0.000
048 B010500 0
048 B020500 0.000
048 C010500 0
048 C020500 0.000
048 D010500 0
048 D020500 0.000
048 E010500 0
048 E020500 0.000
048 F010500 0
048 F020500 0.000
048 G010500 0
048 G020500 0.000
048 H010500 0
048 H020500 0.000
048 I010500 0
048 I020500 0.000
048 J010500 0
048 J020500 0.000
048 K010500 0
048 K020500 0.000
049 000500 N
050 000500 N
051 000500 N
052 000500 N
053 A000500 N
062 A000500 N
062 B000500 0.0
<PAGE> PAGE 24
062 C000500 0.0
062 D000500 0.0
062 E000500 0.0
062 F000500 0.0
062 G000500 0.0
062 H000500 0.0
062 I000500 0.0
062 J000500 0.0
062 K000500 0.0
062 L000500 0.0
062 M000500 0.0
062 N000500 0.0
062 O000500 0.0
062 P000500 0.0
062 Q000500 0.0
062 R000500 0.0
063 A000500 0
063 B000500 0.0
066 A000500 Y
066 C000500 Y
067 000500 N
068 A000500 N
068 B000500 N
069 000500 N
070 A010500 Y
070 A020500 Y
070 B010500 Y
070 B020500 N
070 C010500 Y
070 C020500 N
070 D010500 Y
070 D020500 N
070 E010500 Y
070 E020500 N
070 F010500 Y
070 F020500 N
070 G010500 Y
070 G020500 N
070 H010500 Y
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 Y
070 J020500 N
070 K010500 N
070 K020500 N
070 L010500 Y
070 L020500 N
070 M010500 Y
070 M020500 N
070 N010500 Y
<PAGE> PAGE 25
070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 N
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 Y
070 R020500 N
071 A000500 60654
071 B000500 174664
071 C000500 262359
071 D000500 23
072 A000500 6
072 B000500 128
072 C000500 242
072 D000500 0
072 E000500 0
072 F000500 723
072 G000500 263
072 H000500 0
072 I000500 151
072 J000500 12
072 K000500 0
072 L000500 67
072 M000500 18
072 N000500 50
072 O000500 0
072 P000500 0
072 Q000500 0
072 R000500 13
072 S000500 7
072 T000500 845
072 U000500 0
072 V000500 0
072 W000500 7
072 X000500 2156
072 Y000500 0
072 Z000500 -1786
072AA000500 53234
072BB000500 0
072CC010500 0
072CC020500 4967
072DD010500 0
072DD020500 0
072EE000500 0
073 A010500 0.0000
073 A020500 0.0000
073 B000500 0.0000
073 C000500 0.0000
074 A000500 0
<PAGE> PAGE 26
074 B000500 902
074 C000500 0
074 D000500 0
074 E000500 0
074 F000500 243510
074 G000500 0
074 H000500 0
074 I000500 0
074 J000500 0
074 K000500 0
074 L000500 4531
074 M000500 0
074 N000500 248943
074 O000500 1787
074 P000500 143
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
074 R040500 566
074 S000500 0
074 T000500 246447
074 U010500 3333
074 U020500 2896
074 V010500 0.00
074 V020500 0.00
074 W000500 0.0000
074 X000500 29806
074 Y000500 0
075 A000500 0
075 B000500 264749
076 000500 0.00
SIGNATURE PAUL BROOK
TITLE CONTROLLER
[ARTICLE] 6
[CIK] 0000355747
[NAME] CONTRARIAN FUND - CLASS A
[SERIES]
[NUMBER] 004
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] DEC-31-1999
[PERIOD-END] DEC-31-1999
[INVESTMENTS-AT-COST] 280,391,076
[INVESTMENTS-AT-VALUE] 284,157,924
[RECEIVABLES] 69,050,523
[ASSETS-OTHER] 877
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 35,320,9324
[PAYABLE-FOR-SECURITIES] 8,090
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 68,493,020
[TOTAL-LIABILITIES] 68,501,110
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 263,025,188
[SHARES-COMMON-STOCK] 4,604,992
[SHARES-COMMON-PRIOR] 8,477,978
[ACCUMULATED-NII-CURRENT] 223,189
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 17,692,989
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 3,766,848
[NET-ASSETS] 284,708,214
[DIVIDEND-INCOME] 8,465,172
[INTEREST-INCOME] 442,978
[OTHER-INCOME] 0
[EXPENSES-NET] 6,542,912
[NET-INVESTMENT-INCOME] 2,365,238
[REALIZED-GAINS-CURRENT] 44,461,397
[APPREC-INCREASE-CURRENT] (66,691,190)
[NET-CHANGE-FROM-OPS] (19,864,555)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 529,066
[DISTRIBUTIONS-OF-GAINS] 8,922,704
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 2,004,542
[NUMBER-OF-SHARES-REDEEMED] 6,602,940
[SHARES-REINVESTED] 725,412
[NET-CHANGE-IN-ASSETS] (239,921,073)
[ACCUMULATED-NII-PRIOR] 105,339
[ACCUMULATED-GAINS-PRIOR] 14,827,377
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 3,442,248
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 6,542,912
[AVERAGE-NET-ASSETS] 84,362,655
[PER-SHARE-NAV-BEGIN] 13.62
[PER-SHARE-NII] 0.12
[PER-SHARE-GAIN-APPREC] (0.78)
[PER-SHARE-DIVIDEND] 0.11
[PER-SHARE-DISTRIBUTIONS] 1.52
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 11.33
[EXPENSE-RATIO] 1.28
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] CONTRARIAN FUND - CLASS B
[SERIES]
[NUMBER] 004
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] DEC-31-1999
[PERIOD-END] DEC-31-1999
[INVESTMENTS-AT-COST] 280,391,076
[INVESTMENTS-AT-VALUE] 284,157,924
[RECEIVABLES] 69,050,523
[ASSETS-OTHER] 877
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 35,320,9324
[PAYABLE-FOR-SECURITIES] 8,090
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 68,493,020
[TOTAL-LIABILITIES] 68,501,110
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 263,025,188
[SHARES-COMMON-STOCK] 10,965,476
[SHARES-COMMON-PRIOR] 21,693,149
[ACCUMULATED-NII-CURRENT] 223,189
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 17,692,989
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 3,766,848
[NET-ASSETS] 284,708,214
[DIVIDEND-INCOME] 8,465,172
[INTEREST-INCOME] 442,978
[OTHER-INCOME] 0
[EXPENSES-NET] 6,542,912
[NET-INVESTMENT-INCOME] 2,365,238
[REALIZED-GAINS-CURRENT] 44,461,397
[APPREC-INCREASE-CURRENT] (66,691,190)
[NET-CHANGE-FROM-OPS] (19,864,555)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 328,524
[DISTRIBUTIONS-OF-GAINS] 19,705,400
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 115,810
[NUMBER-OF-SHARES-REDEEMED] 12,419,170
[SHARES-REINVESTED] 1,575,687
[NET-CHANGE-IN-ASSETS] (239,921,073)
[ACCUMULATED-NII-PRIOR] 105,339
[ACCUMULATED-GAINS-PRIOR] 14,827,377
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 3,442,248
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 6,542,912
[AVERAGE-NET-ASSETS] 206,316,582
[PER-SHARE-NAV-BEGIN] 13.42
[PER-SHARE-NII] 0.02
[PER-SHARE-GAIN-APPREC] (0.76)
[PER-SHARE-DIVIDEND] 0.03
[PER-SHARE-DISTRIBUTIONS] 1.52
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 11.13
[EXPENSE-RATIO] 2.05
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] CONTRARIAN FUND - CLASS L
[SERIES]
[NUMBER] 004
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] DEC-31-1999
[PERIOD-END] DEC-31-1999
[INVESTMENTS-AT-COST] 280,391,076
[INVESTMENTS-AT-VALUE] 284,157,924
[RECEIVABLES] 69,050,523
[ASSETS-OTHER] 877
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 35,320,9324
[PAYABLE-FOR-SECURITIES] 8,090
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 68,493,020
[TOTAL-LIABILITIES] 68,501,110
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 263,025,188
[SHARES-COMMON-STOCK] 1,276,022
[SHARES-COMMON-PRIOR] 2,476,781
[ACCUMULATED-NII-CURRENT] 223,189
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 17,692,989
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 3,766,848
[NET-ASSETS] 284,708,214
[DIVIDEND-INCOME] 8,465,172
[INTEREST-INCOME] 442,978
[OTHER-INCOME] 0
[EXPENSES-NET] 6,542,912
[NET-INVESTMENT-INCOME] 2,365,238
[REALIZED-GAINS-CURRENT] 44,461,397
[APPREC-INCREASE-CURRENT] (66,691,190)
[NET-CHANGE-FROM-OPS] (19,864,555)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 40,161
[DISTRIBUTIONS-OF-GAINS] 2,206,687
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 58,978
[NUMBER-OF-SHARES-REDEEMED] 1,440,155
[SHARES-REINVESTED] 180,418
[NET-CHANGE-IN-ASSETS] (239,921,073)
[ACCUMULATED-NII-PRIOR] 105,339
[ACCUMULATED-GAINS-PRIOR] 14,827,377
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 3,442,248
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 6,542,912
[AVERAGE-NET-ASSETS] 23,139,365
[PER-SHARE-NAV-BEGIN] 13.42
[PER-SHARE-NII] 0.03
[PER-SHARE-GAIN-APPREC] (0.75)
[PER-SHARE-DIVIDEND] 0.03
[PER-SHARE-DISTRIBUTIONS] 1.52
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 11.15
[EXPENSE-RATIO] 1.97
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] CONTRARIAN FUND - CLASS Y
[SERIES]
[NUMBER] 004
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] DEC-31-1999
[PERIOD-END] DEC-31-1999
[INVESTMENTS-AT-COST] 280,391,076
[INVESTMENTS-AT-VALUE] 284,157,924
[RECEIVABLES] 69,050,523
[ASSETS-OTHER] 877
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 35,320,9324
[PAYABLE-FOR-SECURITIES] 8,090
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 68,493,020
[TOTAL-LIABILITIES] 68,501,110
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 263,025,188
[SHARES-COMMON-STOCK] 8,430,342
[SHARES-COMMON-PRIOR] 6,192,821
[ACCUMULATED-NII-CURRENT] 223,189
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 17,692,989
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 3,766,848
[NET-ASSETS] 284,708,214
[DIVIDEND-INCOME] 8,465,172
[INTEREST-INCOME] 442,978
[OTHER-INCOME] 0
[EXPENSES-NET] 6,542,912
[NET-INVESTMENT-INCOME] 2,365,238
[REALIZED-GAINS-CURRENT] 44,461,397
[APPREC-INCREASE-CURRENT] (66,691,190)
[NET-CHANGE-FROM-OPS] (19,864,555)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 1,315,865
[DISTRIBUTIONS-OF-GAINS] 10,794,766
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 2,237,521
[NUMBER-OF-SHARES-REDEEMED] 0
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] (239,921,073)
[ACCUMULATED-NII-PRIOR] 105,339
[ACCUMULATED-GAINS-PRIOR] 14,827,377
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 3,442,248
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 6,542,912
[AVERAGE-NET-ASSETS] 90,315,191
[PER-SHARE-NAV-BEGIN] 13.70
[PER-SHARE-NII] 0.18
[PER-SHARE-GAIN-APPREC] (0.80)
[PER-SHARE-DIVIDEND] 0.15
[PER-SHARE-DISTRIBUTIONS] 1.52
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 11.41
[EXPENSE-RATIO] 0.87
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] GOVERNMENT SECURITIES FUND - CLASS A
[SERIES]
[NUMBER] 002
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] DEC-31-1999
[PERIOD-END] DEC-31-1999
[INVESTMENTS-AT-COST] 657,067,265
[INVESTMENTS-AT-VALUE] 635,697,343
[RECEIVABLES] 3,134,058
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 638,831,401
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 1,919,127
[TOTAL-LIABILITIES] 1,919,127
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 737,142,701
[SHARES-COMMON-STOCK] 32,037,370
[SHARES-COMMON-PRIOR] 34,863,415
[ACCUMULATED-NII-CURRENT] (3,771)
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] (78,856,734)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 21,369,922
[NET-ASSETS] 636,912,274
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 41,711,695
[OTHER-INCOME] 0
[EXPENSES-NET] 5,810,866
[NET-INVESTMENT-INCOME] 35,900,829
[REALIZED-GAINS-CURRENT] (45,975,860)
[APPREC-INCREASE-CURRENT] (24,345,994)
[NET-CHANGE-FROM-OPS] (34,421,025)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 16,539,405
[DISTRIBUTIONS-OF-GAINS] 149,124
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 15,324,130
[NUMBER-OF-SHARES-REDEEMED] 19,332,917
[SHARES-REINVESTED] 1,182,742
[NET-CHANGE-IN-ASSETS] 1,544,253
[ACCUMULATED-NII-PRIOR] (2,303)
[ACCUMULATED-GAINS-PRIOR] (32,914,781)
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 3,733,815
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 5,810,866
[AVERAGE-NET-ASSETS] 319,140,584
[PER-SHARE-NAV-BEGIN] 9.97
[PER-SHARE-NII] 0.49
[PER-SHARE-GAIN-APPREC] (0.98)
[PER-SHARE-DIVIDEND] 0.49
[PER-SHARE-DISTRIBUTIONS] 0.00
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 8.99
[EXPENSE-RATIO] 0.94
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] GOVERNMENT SECURITIES FUND - CLASS B
[SERIES]
[NUMBER] 002
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] DEC-31-1999
[PERIOD-END] DEC-31-1999
[INVESTMENTS-AT-COST] 657,067,265
[INVESTMENTS-AT-VALUE] 635,697,343
[RECEIVABLES] 3,134,058
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 638,831,401
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 1,919,127
[TOTAL-LIABILITIES] 1,919,127
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 737,142,701
[SHARES-COMMON-STOCK] 7,330,763
[SHARES-COMMON-PRIOR] 9,231,706
[ACCUMULATED-NII-CURRENT] (3,771)
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] (78,856,734)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 21,369,922
[NET-ASSETS] 636,912,274
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 41,711,695
[OTHER-INCOME] 0
[EXPENSES-NET] 5,810,866
[NET-INVESTMENT-INCOME] 35,900,829
[REALIZED-GAINS-CURRENT] (45,975,860)
[APPREC-INCREASE-CURRENT] (24,345,994)
[NET-CHANGE-FROM-OPS] (34,421,025)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 3,686,615
[DISTRIBUTIONS-OF-GAINS] 37,089
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 1,937,860
[NUMBER-OF-SHARES-REDEEMED] 4,101,258
[SHARES-REINVESTED] 262,455
[NET-CHANGE-IN-ASSETS] 1,544,253
[ACCUMULATED-NII-PRIOR] (2,303)
[ACCUMULATED-GAINS-PRIOR] (32,914,781)
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 3,733,815
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 5,810,866
[AVERAGE-NET-ASSETS] 79,375,171
[PER-SHARE-NAV-BEGIN] 9.97
[PER-SHARE-NII] 0.45
[PER-SHARE-GAIN-APPREC] (0.97)
[PER-SHARE-DIVIDEND] 0.45
[PER-SHARE-DISTRIBUTIONS] 0.00
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 9.00
[EXPENSE-RATIO] 1.42
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] GOVERNMENT SECURITIES FUND - CLASS L
[SERIES]
[NUMBER] 002
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] DEC-31-1999
[PERIOD-END] DEC-31-1999
[INVESTMENTS-AT-COST] 657,067,265
[INVESTMENTS-AT-VALUE] 635,697,343
[RECEIVABLES] 3,134,058
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 638,831,401
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 1,919,127
[TOTAL-LIABILITIES] 1,919,127
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 737,142,701
[SHARES-COMMON-STOCK] 734,972
[SHARES-COMMON-PRIOR] 442,458
[ACCUMULATED-NII-CURRENT] (3,771)
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] (78,856,734)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 21,369,922
[NET-ASSETS] 636,912,274
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 41,711,695
[OTHER-INCOME] 0
[EXPENSES-NET] 5,810,866
[NET-INVESTMENT-INCOME] 35,900,829
[REALIZED-GAINS-CURRENT] (45,975,860)
[APPREC-INCREASE-CURRENT] (24,345,994)
[NET-CHANGE-FROM-OPS] (34,421,025)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 299,972
[DISTRIBUTIONS-OF-GAINS] 2,937
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 807,944
[NUMBER-OF-SHARES-REDEEMED] 539,025
[SHARES-REINVESTED] 23,595
[NET-CHANGE-IN-ASSETS] 1,544,253
[ACCUMULATED-NII-PRIOR] (2,303)
[ACCUMULATED-GAINS-PRIOR] (32,914,781)
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 3,733,815
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 5,810,866
[AVERAGE-NET-ASSETS] 6,286,073
[PER-SHARE-NAV-BEGIN] 9.97
[PER-SHARE-NII] 0.46
[PER-SHARE-GAIN-APPREC] (0.99)
[PER-SHARE-DIVIDEND] 0.45
[PER-SHARE-DISTRIBUTIONS] 0.00
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 8.99
[EXPENSE-RATIO] 1.40
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] GOVERNMENT SECURITIES FUND - CLASS Y
[SERIES]
[NUMBER] 002
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] DEC-31-1999
[PERIOD-END] DEC-31-1999
[INVESTMENTS-AT-COST] 657,067,265
[INVESTMENTS-AT-VALUE] 635,697,343
[RECEIVABLES] 3,134,058
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 638,831,401
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 1,919,127
[TOTAL-LIABILITIES] 1,919,127
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 737,142,701
[SHARES-COMMON-STOCK] 23,699,407
[SHARES-COMMON-PRIOR] 19,173,820
[ACCUMULATED-NII-CURRENT] (3,771)
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] (78,856,734)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 21,369,922
[NET-ASSETS] 636,912,274
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 41,711,695
[OTHER-INCOME] 0
[EXPENSES-NET] 5,810,866
[NET-INVESTMENT-INCOME] 35,900,829
[REALIZED-GAINS-CURRENT] (45,975,860)
[APPREC-INCREASE-CURRENT] (24,345,994)
[NET-CHANGE-FROM-OPS] (34,421,025)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 11,401,511
[DISTRIBUTIONS-OF-GAINS] 95,244
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 4,636,231
[NUMBER-OF-SHARES-REDEEMED] 110,644
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] 1,544,253
[ACCUMULATED-NII-PRIOR] (2,303)
[ACCUMULATED-GAINS-PRIOR] (32,914,781)
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 3,733,815
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 5,810,866
[AVERAGE-NET-ASSETS] 203,833,700
[PER-SHARE-NAV-BEGIN] 9.97
[PER-SHARE-NII] 0.53
[PER-SHARE-GAIN-APPREC] (0.98)
[PER-SHARE-DIVIDEND] 0.53
[PER-SHARE-DISTRIBUTIONS] 0.00
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 8.99
[EXPENSE-RATIO] 0.60
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] CONCERT PEACHTREE GROWTH FUND
[SERIES]
[NUMBER] 003
[NAME] SMITH BARNEY INVESTMENT FUNDS INC. - CLASS A
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] DEC-31-1999
[PERIOD-END] DEC-31-1999
[INVESTMENTS-AT-COST] 345,543,853
[INVESTMENTS-AT-VALUE] 477,120,285
[RECEIVABLES] 482,091
[ASSETS-OTHER] 96,912,473
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 544,514,849
[PAYABLE-FOR-SECURITIES] 180,504
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 97,363,268
[TOTAL-LIABILITIES] 97,543,772
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 334,454,031
[SHARES-COMMON-STOCK] 6,471,160
[SHARES-COMMON-PRIOR] 4,895,280
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 10,940,614
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 101,576,432
[NET-ASSETS] 446,971,077
[DIVIDEND-INCOME] 2,567,609
[INTEREST-INCOME] 466,596
[OTHER-INCOME] 0
[EXPENSES-NET] 5,165,545
[NET-INVESTMENT-INCOME] (2,131,340)
[REALIZED-GAINS-CURRENT] 57,223,625
[APPREC-INCREASE-CURRENT] 20,550,178
[NET-CHANGE-FROM-OPS] 75,642,463
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 13,661,588
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 3,067,687
[NUMBER-OF-SHARES-REDEEMED] 2,209,240
[SHARES-REINVESTED] 717,433
[NET-CHANGE-IN-ASSETS] 113,428,742
[ACCUMULATED-NII-PRIOR] 920
[ACCUMULATED-GAINS-PRIOR] 3,021,639
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 3,598,241
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 5,165,545
[AVERAGE-NET-ASSETS] 100,718,396
[PER-SHARE-NAV-BEGIN] 17.71
[PER-SHARE-NII] (0.12)
[PER-SHARE-GAIN-APPREC] 3.60
[PER-SHARE-DIVIDEND] 0.00
[PER-SHARE-DISTRIBUTIONS] 2.09
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 19.10
[EXPENSE-RATIO] 1.44
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] CONCERT PEACHTREE GROWTH FUND
[SERIES]
[NUMBER] 003
[NAME] SMITH BARNEY INVESTMENT FUNDS INC. - CLASS B
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] DEC-31-1999
[PERIOD-END] DEC-31-1999
[INVESTMENTS-AT-COST] 345,543,853
[INVESTMENTS-AT-VALUE] 477,120,285
[RECEIVABLES] 482,091
[ASSETS-OTHER] 96,912,473
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 544,514,849
[PAYABLE-FOR-SECURITIES] 180,504
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 97,363,268
[TOTAL-LIABILITIES] 97,543,772
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 334,454,031
[SHARES-COMMON-STOCK] 5,132,920
[SHARES-COMMON-PRIOR] 3,404,171
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 10,940,614
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 101,576,432
[NET-ASSETS] 446,971,077
[DIVIDEND-INCOME] 2,567,609
[INTEREST-INCOME] 466,596
[OTHER-INCOME] 0
[EXPENSES-NET] 5,165,545
[NET-INVESTMENT-INCOME] (2,131,340)
[REALIZED-GAINS-CURRENT] 57,223,625
[APPREC-INCREASE-CURRENT] 20,550,178
[NET-CHANGE-FROM-OPS] 75,642,463
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 9,452,104
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 2,044,383
[NUMBER-OF-SHARES-REDEEMED] 830,572
[SHARES-REINVESTED] 514,938
[NET-CHANGE-IN-ASSETS] 113,428,742
[ACCUMULATED-NII-PRIOR] 920
[ACCUMULATED-GAINS-PRIOR] 3,021,639
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 3,598,241
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 5,165,545
[AVERAGE-NET-ASSETS] 73,840,918
[PER-SHARE-NAV-BEGIN] 17.35
[PER-SHARE-NII] (0.26)
[PER-SHARE-GAIN-APPREC] 3.50
[PER-SHARE-DIVIDEND] 0.00
[PER-SHARE-DISTRIBUTIONS] 2.09
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 18.50
[EXPENSE-RATIO] 2.24
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] CONCERT PEACHTREE GROWTH FUND
[SERIES]
[NUMBER] 003
[NAME] SMITH BARNEY INVESTMENT FUNDS INC. - CLASS L
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] DEC-31-1999
[PERIOD-END] DEC-31-1999
[INVESTMENTS-AT-COST] 345,543,853
[INVESTMENTS-AT-VALUE] 477,120,285
[RECEIVABLES] 482,091
[ASSETS-OTHER] 96,912,473
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 544,514,849
[PAYABLE-FOR-SECURITIES] 180,504
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 97,363,268
[TOTAL-LIABILITIES] 97,543,772
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 334,454,031
[SHARES-COMMON-STOCK] 34,707
[SHARES-COMMON-PRIOR] 12,759
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 10,940,614
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 101,576,432
[NET-ASSETS] 446,971,077
[DIVIDEND-INCOME] 2,567,609
[INTEREST-INCOME] 466,596
[OTHER-INCOME] 0
[EXPENSES-NET] 5,165,545
[NET-INVESTMENT-INCOME] (2,131,340)
[REALIZED-GAINS-CURRENT] 57,223,625
[APPREC-INCREASE-CURRENT] 20,550,178
[NET-CHANGE-FROM-OPS] 75,642,463
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 66,773
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 22,055
[NUMBER-OF-SHARES-REDEEMED] 3,730
[SHARES-REINVESTED] 3,623
[NET-CHANGE-IN-ASSETS] 113,428,742
[ACCUMULATED-NII-PRIOR] 920
[ACCUMULATED-GAINS-PRIOR] 3,021,639
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 3,598,241
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 5,165,545
[AVERAGE-NET-ASSETS] 485,750
[PER-SHARE-NAV-BEGIN] 17.41
[PER-SHARE-NII] (0.32)
[PER-SHARE-GAIN-APPREC] 3.54
[PER-SHARE-DIVIDEND] 0.00
[PER-SHARE-DISTRIBUTIONS] 2.09
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 18.54
[EXPENSE-RATIO] 2.56
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] CONCERT PEACHTREE GROWTH FUND
[SERIES]
[NUMBER] 003
[NAME] SMITH BARNEY INVESTMENT FUNDS INC. - CLASS Y
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] DEC-31-1999
[PERIOD-END] DEC-31-1999
[INVESTMENTS-AT-COST] 345,543,853
[INVESTMENTS-AT-VALUE] 477,120,285
[RECEIVABLES] 482,091
[ASSETS-OTHER] 96,912,473
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 544,514,849
[PAYABLE-FOR-SECURITIES] 180,504
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 97,363,268
[TOTAL-LIABILITIES] 97,543,772
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 334,454,031
[SHARES-COMMON-STOCK] 11,809,556
[SHARES-COMMON-PRIOR] 10,541,684
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 10,940,614
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 101,576,432
[NET-ASSETS] 446,971,077
[DIVIDEND-INCOME] 2,567,609
[INTEREST-INCOME] 466,596
[OTHER-INCOME] 0
[EXPENSES-NET] 5,165,545
[NET-INVESTMENT-INCOME] (2,131,340)
[REALIZED-GAINS-CURRENT] 57,223,625
[APPREC-INCREASE-CURRENT] 20,550,178
[NET-CHANGE-FROM-OPS] 75,642,463
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 26,991,925
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 1,281,857
[NUMBER-OF-SHARES-REDEEMED] 37,899
[SHARES-REINVESTED] 23,914
[NET-CHANGE-IN-ASSETS] 113,428,742
[ACCUMULATED-NII-PRIOR] 920
[ACCUMULATED-GAINS-PRIOR] 3,021,639
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 3,598,241
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 5,165,545
[AVERAGE-NET-ASSETS] 204,470,154
[PER-SHARE-NAV-BEGIN] 17.79
[PER-SHARE-NII] (0.04)
[PER-SHARE-GAIN-APPREC] 3.63
[PER-SHARE-DIVIDEND] 0.00
[PER-SHARE-DISTRIBUTIONS] 2.09
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 19.29
[EXPENSE-RATIO] 1.00
</TABLE>
