WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000355747
<NAME> SMITH BARNEY INVESTMENT FUNDS, INC.
<SERIES>
<NUMBER> 2
<NAME> SMITH BARNEY SMALL CAP GROWTH - CLASS L
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 236,845,867
<INVESTMENTS-AT-VALUE> 254,001,574
<RECEIVABLES> 9,393,911
<ASSETS-OTHER> 979
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 263,396,464
<PAYABLE-FOR-SECURITIES> 11,511,637
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 311,639
<TOTAL-LIABILITIES> 11,823,276
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 240,596,378
<SHARES-COMMON-STOCK> 3,194,337
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (571,834)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (5,607,063)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 17,155,707
<NET-ASSETS> 251,573,188
<DIVIDEND-INCOME> 6,276
<INTEREST-INCOME> 218,852
<OTHER-INCOME> 0
<EXPENSES-NET> 747,066
<NET-INVESTMENT-INCOME> (521,938)
<REALIZED-GAINS-CURRENT> (5,607,063)
<APPREC-INCREASE-CURRENT> 17,155,707
<NET-CHANGE-FROM-OPS> 11,026,706
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 10,782
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,277,275
<NUMBER-OF-SHARES-REDEEMED> 83,709
<SHARES-REINVESTED> 771
<NET-CHANGE-IN-ASSETS> 251,573,188
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 318,946
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 747,066
<AVERAGE-NET-ASSETS> 32,745,941
<PER-SHARE-NAV-BEGIN> 11.40
<PER-SHARE-NII> (0.09)
<PER-SHARE-GAIN-APPREC> 6.39
<PER-SHARE-DIVIDEND> 0.01
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 17.69
<EXPENSE-RATIO> 2.09
</TABLE>
