<PAGE> PAGE 1
000 B000000 09/30/1999
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 INVESTMENT FUNDS INC.
001 B000000 811-3275
001 C000000 2128165665
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 1
007 C010100 1
007 C020100 SMITH BARNEY SMALL CAP VALUE FUND
007 C030100 N
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 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 LLC
010 B00AA01 000000000
010 C01AA01 NEW YORK
010 C02AA01 NY
010 C03AA01 10013
011 A00AA01 CFBDS, INC.
011 B00AA01 8-00000000
011 C01AA01 BOSTON
011 C02AA01 MA
011 C03AA01 02109
011 C04AA01 5408
<PAGE> PAGE 2
012 A00AA01 FIRST DATA INVESTOR SERVICES
012 B00AA01 84-0000000
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02109
013 A00AA01 KPMG PEAT MARWICK LLP
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10017
015 A00AA01 PNC BANK, NATIONAL ASSOCIATION
015 B00AA01 C
015 C01AA01 PHILADELPHIA
015 C02AA01 PA
015 C03AA01 19103
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 167
019 C00AA00 BARNEY0000
020 A000001 MORGAN STANLEY
020 B000001 13-2655998
020 C000001 52
020 A000002 ABN AMRO
020 B000002 N/A
020 C000002 17
020 A000003 RAYMOND JAMES
020 B000003 N/A
020 C000003 15
020 A000004 DONALDSON
020 B000004 N/A
020 C000004 15
020 A000005 MERRILL LYNCH
020 B000005 13-5674085
020 C000005 12
020 A000006 MCDONALD & CO.
020 B000006 N/A
020 C000006 12
020 A000007 SALOMON SMITH BARNEY
020 B000007 11-2418191
020 C000007 11
020 A000008 BERNSTEIN
020 B000008 N/A
020 C000008 11
020 A000009 CS FIRST BOSTON
020 B000009 13-5659485
020 C000009 10
020 A000010 PRUDENTIAL SECURITIES
020 B000010 22-2347336
020 C000010 10
021 000000 165
022 A000001 MORGAN STANLEY
<PAGE> PAGE 3
022 B000001 13-2655998
022 C000001 3451154
022 D000001 61
022 A000002 GOLDMAN SACHS
022 B000002 13-5108880
022 C000002 1100949
022 D000002 0
022 A000003 JP MORGAN SECURITIES
022 B000003 13-3224016
022 C000003 594915
022 D000003 0
022 A000004 MERRILL LYNCH
022 B000004 13-5674085
022 C000004 8031
022 D000004 173
022 A000005 KEEFE, BRUYETTE & WOODS, INC.
022 B000005 N/A
022 C000005 7551
022 D000005 0
022 A000006 BAIRD (ROBERT W.) & CO. INCORPORATED
022 B000006 N/A
022 C000006 2748
022 D000006 189
022 A000007 PIPER JAFFRAY INC.
022 B000007 N/A
022 C000007 2272
022 D000007 0
022 A000008 CS FIRST BOSTON
022 B000008 13-5659485
022 C000008 1270
022 D000008 549
022 A000009 SOUNDVIEW FINANCIAL GROUP, INC.
022 B000009 N/A
022 C000009 1535
022 D000009 0
022 A000010 LEHMAN BROTHERS INC.
022 B000010 13-2518466
022 C000010 1308
022 D000010 0
023 C000000 5171733
023 D000000 972
024 00AA00 N
025 D00AA01 0
025 D00AA02 0
025 D00AA03 0
025 D00AA04 0
025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
026 A000000 N
<PAGE> PAGE 4
026 B000000 N
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
028 A01AA00 17711
028 A02AA00 0
028 A03AA00 0
028 A04AA00 4543
028 B01AA00 24557
028 B02AA00 0
028 B03AA00 0
028 B04AA00 12036
028 C01AA00 8923
028 C02AA00 0
028 C03AA00 0
028 C04AA00 2014
028 D01AA00 6293
028 D02AA00 0
028 D03AA00 0
028 D04AA00 5805
028 E01AA00 2516
028 E02AA00 0
028 E03AA00 0
028 E04AA00 1678
028 F01AA00 1989
028 F02AA00 0
028 F03AA00 0
028 F04AA00 6677
028 G01AA00 61989
028 G02AA00 0
028 G03AA00 0
028 G04AA00 32753
028 H00AA00 41858
029 00AA00 Y
030 A00AA00 1290
030 B00AA00 5.00
030 C00AA00 0.00
031 A00AA00 1290
031 B00AA00 0
032 00AA00 0
033 00AA00 0
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 Y
041 00AA00 Y
<PAGE> PAGE 5
042 A00AA00 0
042 B00AA00 0
042 C00AA00 0
042 D00AA00 0
042 E00AA00 0
042 F00AA00 0
042 G00AA00 100
042 H00AA00 0
043 00AA00 637
044 00AA00 0
045 00AA00 Y
046 00AA00 N
047 00AA00 Y
048 00AA00 0.750
048 A01AA00 0
048 A02AA00 0.000
048 B01AA00 0
048 B02AA00 0.000
048 C01AA00 0
048 C02AA00 0.000
048 D01AA00 0
048 D02AA00 0.000
048 E01AA00 0
048 E02AA00 0.000
048 F01AA00 0
048 F02AA00 0.000
048 G01AA00 0
048 G02AA00 0.000
048 H01AA00 0
048 H02AA00 0.000
048 I01AA00 0
048 I02AA00 0.000
048 J01AA00 0
048 J02AA00 0.000
048 K01AA00 0
048 K02AA00 0.000
049 00AA00 Y
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 N
054 A00AA00 Y
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 N
054 I00AA00 N
054 J00AA00 Y
<PAGE> PAGE 6
054 K00AA00 N
054 L00AA00 Y
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
055 A00AA00 N
055 B00AA00 N
056 00AA00 N
057 00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 1000
062 A00AA00 N
062 B00AA00 0.0
062 C00AA00 0.0
062 D00AA00 0.0
062 E00AA00 0.0
062 F00AA00 0.0
062 G00AA00 0.0
062 H00AA00 0.0
062 I00AA00 0.0
062 J00AA00 0.0
062 K00AA00 0.0
062 L00AA00 0.0
062 M00AA00 0.0
062 N00AA00 0.0
062 O00AA00 0.0
062 P00AA00 0.0
062 Q00AA00 0.0
062 R00AA00 0.0
063 A00AA00 0
063 B00AA00 0.0
066 A00AA00 Y
066 D00AA00 Y
067 00AA00 N
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
070 A01AA00 Y
070 A02AA00 Y
070 B01AA00 Y
070 B02AA00 N
070 C01AA00 Y
070 C02AA00 N
070 D01AA00 Y
070 D02AA00 N
070 E01AA00 Y
070 E02AA00 N
070 F01AA00 Y
<PAGE> PAGE 7
070 F02AA00 Y
070 G01AA00 Y
070 G02AA00 N
070 H01AA00 Y
070 H02AA00 N
070 I01AA00 Y
070 I02AA00 N
070 J01AA00 N
070 J02AA00 N
070 K01AA00 N
070 K02AA00 N
070 L01AA00 Y
070 L02AA00 N
070 M01AA00 N
070 M02AA00 N
070 N01AA00 Y
070 N02AA00 N
070 O01AA00 N
070 O02AA00 N
070 P01AA00 N
070 P02AA00 N
070 Q01AA00 N
070 Q02AA00 N
070 R01AA00 N
070 R02AA00 N
071 A00AA00 124809
071 B00AA00 6970
071 C00AA00 101764
071 D00AA00 7
072 A00AA00 8
072 B00AA00 1037
072 C00AA00 1661
072 D00AA00 0
072 E00AA00 0
072 F00AA00 616
072 G00AA00 0
072 H00AA00 0
072 I00AA00 80
072 J00AA00 7
072 K00AA00 0
072 L00AA00 53
072 M00AA00 8
072 N00AA00 81
072 O00AA00 0
072 P00AA00 0
072 Q00AA00 0
072 R00AA00 30
072 S00AA00 14
072 T00AA00 637
072 U00AA00 0
072 V00AA00 0
<PAGE> PAGE 8
072 W00AA00 3
072 X00AA00 1529
072 Y00AA00 0
072 Z00AA00 1169
072AA00AA00 378
072BB00AA00 0
072CC01AA00 3135
072CC02AA00 0
072DD01AA00 0
072DD02AA00 0
072EE00AA00 0
073 A01AA00 0.0000
073 A02AA00 0.0000
073 B00AA00 0.0000
073 C00AA00 0.0000
074 A00AA00 1
074 B00AA00 19635
074 C00AA00 1246
074 D00AA00 0
074 E00AA00 0
074 F00AA00 122425
074 G00AA00 0
074 H00AA00 0
074 I00AA00 0
074 J00AA00 1511
074 K00AA00 0
074 L00AA00 820
074 M00AA00 0
074 N00AA00 145638
074 O00AA00 4222
074 P00AA00 134
074 Q00AA00 0
074 R01AA00 0
074 R02AA00 0
074 R03AA00 0
074 R04AA00 142
074 S00AA00 0
074 T00AA00 141140
074 U01AA00 3083
074 U02AA00 8619
074 V01AA00 12.10
074 V02AA00 0.00
074 W00AA00 0.0000
074 X00AA00 14454
074 Y00AA00 0
075 A00AA00 0
075 B00AA00 138871
076 00AA00 0.00
077 A000000 N
078 000000 N
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
<PAGE> PAGE 9
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
034 000100 Y
035 000100 91
036 A000100 Y
036 B000100 0
SIGNATURE PAUL BROOK
TITLE CONTROLLER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000355747
<NAME> SMITH BARNEY INVESTMENT FUND, INC.
<SERIES>
<NUMBER> 1
<NAME> SMALL CAP VALUE FUND. CLASS A
<S> <C>
<PERIOD-TYPE> 8-MOS
<FISCAL-YEAR-END> SEP-30-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 139,429,010
<INVESTMENTS-AT-VALUE> 143,306,445
<RECEIVABLES> 2,331,013
<ASSETS-OTHER> 900
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 145,638,358
<PAYABLE-FOR-SECURITIES> 4,221,824
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 276,464
<TOTAL-LIABILITIES> 4,498,288
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 136,384,520
<SHARES-COMMON-STOCK> 3,083,434
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 1,242,590
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 377,787
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,135,173
<NET-ASSETS> 141,140,070
<DIVIDEND-INCOME> 1,661,369
<INTEREST-INCOME> 1,036,405
<OTHER-INCOME> 0
<EXPENSES-NET> 1,528,510
<NET-INVESTMENT-INCOME> 1,169,264
<REALIZED-GAINS-CURRENT> 377,787
<APPREC-INCREASE-CURRENT> 3,135,173
<NET-CHANGE-FROM-OPS> 4,682,224
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,201,406
<NUMBER-OF-SHARES-REDEEMED> 2,117,972
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 141,140,070
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 616,315
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,528,510
<AVERAGE-NET-ASSETS> 41,661,124
<PER-SHARE-NAV-BEGIN> 11.40
<PER-SHARE-NII> 00.15
<PER-SHARE-GAIN-APPREC> 00.55
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.10
<EXPENSE-RATIO> 01.32
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000355747
<NAME> SMITH BARNEY INVESTMENT FUND, INC.
<SERIES>
<NUMBER> 1
<NAME> SMALL CAP VALUE FUND. CLASS B
<S> <C>
<PERIOD-TYPE> 8-MOS
<FISCAL-YEAR-END> SEP-30-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 139,429,010
<INVESTMENTS-AT-VALUE> 143,306,445
<RECEIVABLES> 2,331,013
<ASSETS-OTHER> 900
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 145,638,358
<PAYABLE-FOR-SECURITIES> 4,221,824
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 276,464
<TOTAL-LIABILITIES> 4,498,288
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 136,384,520
<SHARES-COMMON-STOCK> 5,032,160
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 1,242,590
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 377,787
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,135,173
<NET-ASSETS> 141,140,070
<DIVIDEND-INCOME> 1,661,369
<INTEREST-INCOME> 1,036,405
<OTHER-INCOME> 0
<EXPENSES-NET> 1,528,510
<NET-INVESTMENT-INCOME> 1,169,264
<REALIZED-GAINS-CURRENT> 377,787
<APPREC-INCREASE-CURRENT> 3,135,173
<NET-CHANGE-FROM-OPS> 4,682,224
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,263,462
<NUMBER-OF-SHARES-REDEEMED> 231,302
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 141,140,070
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 616,315
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,528,510
<AVERAGE-NET-ASSETS> 56,047,251
<PER-SHARE-NAV-BEGIN> 11.40
<PER-SHARE-NII> 00.09
<PER-SHARE-GAIN-APPREC> 00.56
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.05
<EXPENSE-RATIO> 02.08
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000355747
<NAME> SMITH BARNEY INVESTMENT FUND, INC.
<SERIES>
<NUMBER> 1
<NAME> SMALL CAP VALUE FUND. CLASS L
<S> <C>
<PERIOD-TYPE> 8-MOS
<FISCAL-YEAR-END> SEP-30-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 139,429,010
<INVESTMENTS-AT-VALUE> 143,306,445
<RECEIVABLES> 2,331,013
<ASSETS-OTHER> 900
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 145,638,358
<PAYABLE-FOR-SECURITIES> 4,221,824
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 276,464
<TOTAL-LIABILITIES> 4,498,288
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 136,384,520
<SHARES-COMMON-STOCK> 3,587,156
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 1,242,590
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 377,787
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,135,173
<NET-ASSETS> 141,140,070
<DIVIDEND-INCOME> 1,661,369
<INTEREST-INCOME> 1,036,405
<OTHER-INCOME> 0
<EXPENSES-NET> 1,528,510
<NET-INVESTMENT-INCOME> 1,169,264
<REALIZED-GAINS-CURRENT> 377,787
<APPREC-INCREASE-CURRENT> 3,135,173
<NET-CHANGE-FROM-OPS> 4,682,224
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,831,202
<NUMBER-OF-SHARES-REDEEMED> 244,046
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 141,140,070
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 616,315
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,528,510
<AVERAGE-NET-ASSETS> 41,162,853
<PER-SHARE-NAV-BEGIN> 11.40
<PER-SHARE-NII> 00.09
<PER-SHARE-GAIN-APPREC> 00.56
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.05
<EXPENSE-RATIO> 02.08
</TABLE>
