SMITH BARNEY SHEARSON INVESTMENT FUNDS INC
NSAR-A, EX-27, 2000-09-14
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000355747
<NAME> INVESTMENT GRADE BOND FUND
<SERIES>
   <NUMBER>001
   <NAME>SMITH BARNEY INVESTMENT FUNDS INC.

<S>                             <C>
<PERIOD-TYPE>                  6-MOS
<FISCAL-YEAR-END>                               Dec-31-2000
<PERIOD-END>                                    Jun-30-2000
<INVESTMENTS-AT-COST>                           515,175,016
<INVESTMENTS-AT-VALUE>                          494,582,939
<RECEIVABLES>                                    14,344,145
<ASSETS-OTHER>                                   59,208,091
<OTHER-ITEMS-ASSETS>                                      0
<TOTAL-ASSETS>                                  568,135,175
<PAYABLE-FOR-SECURITIES>                          2,033,307
<SENIOR-LONG-TERM-DEBT>                                   0
<OTHER-ITEMS-LIABILITIES>                        62,168,772
<TOTAL-LIABILITIES>                              64,202,079
<SENIOR-EQUITY>                                           0
<PAID-IN-CAPITAL-COMMON>                        543,471,011
<SHARES-COMMON-STOCK>                            18,008,923
<SHARES-COMMON-PRIOR>                            18,818,072
<ACCUMULATED-NII-CURRENT>                           612,682
<OVERDISTRIBUTION-NII>                                    0
<ACCUMULATED-NET-GAINS>                         (19,558,520)
<OVERDISTRIBUTION-GAINS>                                  0
<ACCUM-APPREC-OR-DEPREC>                        (20,592,077)
<NET-ASSETS>                                    503,933,096
<DIVIDEND-INCOME>                                         0
<INTEREST-INCOME>                                18,994,919
<OTHER-INCOME>                                            0
<EXPENSES-NET>                                    2,887,699
<NET-INVESTMENT-INCOME>                          16,107,220
<REALIZED-GAINS-CURRENT>                         (3,853,145)
<APPREC-INCREASE-CURRENT>                         5,613,415
<NET-CHANGE-FROM-OPS>                            17,867,490
<EQUALIZATION>                                            0
<DISTRIBUTIONS-OF-INCOME>                         6,319,546
<DISTRIBUTIONS-OF-GAINS>                                  0
<DISTRIBUTIONS-OTHER>                                     0
<NUMBER-OF-SHARES-SOLD>                           2,206,505
<NUMBER-OF-SHARES-REDEEMED>                       3,371,379
<SHARES-REINVESTED>                                 355,725
<NET-CHANGE-IN-ASSETS>                          (26,578,597)
<ACCUMULATED-NII-PRIOR>                              (3,374)
<ACCUMULATED-GAINS-PRIOR>                       (15,705,375)
<OVERDISTRIB-NII-PRIOR>                                   0
<OVERDIST-NET-GAINS-PRIOR>                                0
<GROSS-ADVISORY-FEES>                             1,655,109
<INTEREST-EXPENSE>                                        0
<GROSS-EXPENSE>                                   2,887,699
<AVERAGE-NET-ASSETS>                            206,328,465
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<RETURNS-OF-CAPITAL>                                  0.000
<PER-SHARE-NAV-END>                                  11.270
<EXPENSE-RATIO>                                        1.03



</TABLE>


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