Independent Auditors' Consent
To the Shareholders and Board of Directors of
Smith Barney Investment Funds Inc.:
- Smith Barney Government Securities Fund
We consent to the incorporation by reference, of our report
dated February 11, 2000 with respect to the Smith Barney
Government Securities Fund (the "Fund") of Smith Barney
Investment Funds Inc., in the Registration Statement on Form N-
14 for the Fund and to the references to our firm under the
headings "Synopsis" and "Agreement and Plan of Reorganization"
in the Proxy Statement/Prospectus.
/s/ KPMG LLP
KPMG LLP
New York, New York
July 13, 2000
