<PAGE> PAGE 1
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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 27
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<PAGE> PAGE 31
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<PAGE> PAGE 34
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<PAGE> PAGE 35
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<PAGE> PAGE 36
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<PAGE> PAGE 40
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<PAGE> PAGE 41
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SIGNATURE CHRISTINA HAAGE
TITLE ASSISTANT TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME>Smith Barney Premium Total Return Fund Class A
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<SERIES>
[NUMBER]1
<NAME>Smith Barney Premium Total Return Fund Class B
<S> <C>
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<PERIOD-END> JAN-31-1995
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[REALIZED-GAINS-CURRENT] 51,886,293
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<SERIES>
[NUMBER]1
<NAME>Smith Barney Premium Total Return Fund Class C
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1995
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<ARTICLE> 6
<SERIES>
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<NAME> SMITH BARNEY TAX EXEMPT INCOME FUND CLASS A
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<SERIES>
[NUMBER] 4
<NAME> SMITH BARNEY TAX EXEMPT INCOME FUND CLASS B
<S> <C>
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<PERIOD-END> JAN-31-1995
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<ARTICLE> 6
<SERIES>
[NUMBER] 4
<NAME> SMITH BARNEY TAX EXEMPT INCOME FUND CLASS C
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-1994
<PERIOD-END> JAN-31-1995
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[OVERDISTRIBUTION-GAINS] (6,892,075)
[ACCUM-APPREC-OR-DEPREC] (7,469,315)
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>5
<NAME>Smith Barney Exchange Reserve Fund Class B
<S> <C>
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[NUMBER]5
<NAME>Smith Barney Exchange Reserve Fund Class C
<S> <C>
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<FISCAL-YEAR-END> JUL-31-1995
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[INVESTMENTS-AT-COST] 193542152
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[NUMBER-OF-SHARES-SOLD] 10449591
[NUMBER-OF-SHARES-REDEEMED] 5880375
[SHARES-REINVESTED] 20948
[NET-CHANGE-IN-ASSETS] (61,301,626)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 107676
[GROSS-ADVISORY-FEES] 298265
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 1172877
[AVERAGE-NET-ASSETS] 197222456
[PER-SHARE-NAV-BEGIN] 1.00
[PER-SHARE-NII] 0.01
[PER-SHARE-GAIN-APPREC] 0.00
[PER-SHARE-DIVIDEND] 0.01
[PER-SHARE-DISTRIBUTIONS] 0.00
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 1.00
[EXPENSE-RATIO] 1.23
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>6
<NAME> Convertible Securities - Class A
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1995
<PERIOD-END> JAN-31-1995
<INVESTMENTS-AT-COST> 82,505,629
<INVESTMENTS-AT-VALUE> 78,521,030
<RECEIVABLES> 668,453
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 79,189,483
<PAYABLE-FOR-SECURITIES> 818,780
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 228,862
<TOTAL-LIABILITIES> 1,047,642
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 88,957,042
<SHARES-COMMON-STOCK> 2,465,140
<SHARES-COMMON-PRIOR> 157,572
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (66,840)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (6,763,762)
<ACCUM-APPREC-OR-DEPREC> (3,984,599)
<NET-ASSETS> 78,141,841
<DIVIDEND-INCOME> 1,386,129
<INTEREST-INCOME> 1,326,355
<OTHER-INCOME> 0
<EXPENSES-NET> 714,260
<NET-INVESTMENT-INCOME> 1,998,224
<REALIZED-GAINS-CURRENT> (584,940)
<APPREC-INCREASE-CURRENT> (3,916,824)
<NET-CHANGE-FROM-OPS> (2,503,540)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 771,244
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,402,286
<NUMBER-OF-SHARES-REDEEMED> 140,597
<SHARES-REINVESTED> 45,879
<NET-CHANGE-IN-ASSETS> (9,342,048)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 10,931,878
<OVERDISTRIB-NII-PRIOR> (65,206)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 208,560
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 714,260
<AVERAGE-NET-ASSETS> 82,743,736
<PER-SHARE-NAV-BEGIN> 14.5600
<PER-SHARE-NII> 0.3400
<PER-SHARE-GAIN-APPREC> (0.7400)
<PER-SHARE-DIVIDEND> 0.3700
<PER-SHARE-DISTRIBUTIONS> 0.0000
<RETURNS-OF-CAPITAL> 0.0000
<PER-SHARE-NAV-END> 13.7900
<EXPENSE-RATIO> 1.39
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<ARTICLE> 6
<SERIES>
[NUMBER]6
<NAME> Convertible Securities - Class B
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1995
<PERIOD-END> JAN-31-1995
[INVESTMENTS-AT-COST] 82,505,629
[INVESTMENTS-AT-VALUE] 78,521,030
[RECEIVABLES] 668,453
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 79,189,483
[PAYABLE-FOR-SECURITIES] 818,780
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 228,862
[TOTAL-LIABILITIES] 1,047,642
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 88,957,042
[SHARES-COMMON-STOCK] 3,196,648
[SHARES-COMMON-PRIOR] 5,850,908
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (66,840)
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] (6,763,762)
[ACCUM-APPREC-OR-DEPREC] (3,984,599)
[NET-ASSETS] 78,141,841
[DIVIDEND-INCOME] 1,386,129
[INTEREST-INCOME] 1,326,355
[OTHER-INCOME] 0
[EXPENSES-NET] 714,260
[NET-INVESTMENT-INCOME] 1,998,224
[REALIZED-GAINS-CURRENT] (584,940)
[APPREC-INCREASE-CURRENT] (3,916,824)
[NET-CHANGE-FROM-OPS] (2,503,540)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 1,228,254
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 168,786
[NUMBER-OF-SHARES-REDEEMED] 2,981,585
[SHARES-REINVESTED] 68,539
[NET-CHANGE-IN-ASSETS] (9,342,048)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 10,931,878
[OVERDISTRIB-NII-PRIOR] (65,206)
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 208,560
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 714,260
[AVERAGE-NET-ASSETS] 82,743,736
[PER-SHARE-NAV-BEGIN] 14.5600
[PER-SHARE-NII] 0.3600
[PER-SHARE-GAIN-APPREC] (0.8000)
[PER-SHARE-DIVIDEND] 0.3300
[PER-SHARE-DISTRIBUTIONS] 0.0000
[RETURNS-OF-CAPITAL] 0.0000
[PER-SHARE-NAV-END] 13.7900
[EXPENSE-RATIO] 1.86
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<ARTICLE> 6
<SERIES>
[NUMBER]6
<NAME> Convertible Securities - Class C
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1995
<PERIOD-END> JAN-31-1995
[INVESTMENTS-AT-COST] 82,505,629
[INVESTMENTS-AT-VALUE] 78,521,030
[RECEIVABLES] 668,453
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 79,189,483
[PAYABLE-FOR-SECURITIES] 818,780
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 228,862
[TOTAL-LIABILITIES] 1,047,642
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 88,957,042
[SHARES-COMMON-STOCK] 2,986
[SHARES-COMMON-PRIOR] 1
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (66,840)
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] (6,763,762)
[ACCUM-APPREC-OR-DEPREC] (3,984,599)
[NET-ASSETS] 78,141,841
[DIVIDEND-INCOME] 1,386,129
[INTEREST-INCOME] 1,326,355
[OTHER-INCOME] 0
[EXPENSES-NET] 714,260
[NET-INVESTMENT-INCOME] 1,998,224
[REALIZED-GAINS-CURRENT] (584,940)
[APPREC-INCREASE-CURRENT] (3,916,824)
[NET-CHANGE-FROM-OPS] (2,503,540)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 360
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 2,958
[NUMBER-OF-SHARES-REDEEMED] 0
[SHARES-REINVESTED] 27
[NET-CHANGE-IN-ASSETS] (9,342,048)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 10,931,878
[OVERDISTRIB-NII-PRIOR] (65,206)
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 208,560
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 714,260
[AVERAGE-NET-ASSETS] 82,743,736
[PER-SHARE-NAV-BEGIN] 14.0900
[PER-SHARE-NII] 0.1500
[PER-SHARE-GAIN-APPREC] (0.2800)
[PER-SHARE-DIVIDEND] 0.1700
[PER-SHARE-DISTRIBUTIONS] 0.0000
[RETURNS-OF-CAPITAL] 0.0000
[PER-SHARE-NAV-END] 13.7900
[EXPENSE-RATIO] 1.84
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 7
<NAME> Smith Barney Global Bond Fund. - Class A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Jul-31-1995
<PERIOD-END> Jan-31-1995
<INVESTMENTS-AT-COST> 107,743,426
<INVESTMENTS-AT-VALUE> 107,191,486
<RECEIVABLES> 58,501,254
<ASSETS-OTHER> 4,853,423
<OTHER-ITEMS-ASSETS> 1,695,066
<TOTAL-ASSETS> 172,241,229
<PAYABLE-FOR-SECURITIES> 2,953,433
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 61,874,543
<TOTAL-LIABILITIES> 64,827,976
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 113,835,799
<SHARES-COMMON-STOCK> 4,214,262
<SHARES-COMMON-PRIOR> 2,604,781
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 3,382,501
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 2,379,148
<ACCUM-APPREC-OR-DEPREC> (660,897)
<NET-ASSETS> 107,413,253
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4,420,229
<OTHER-INCOME> 0
<EXPENSES-NET> 863,822
<NET-INVESTMENT-INCOME> 3,556,407
<REALIZED-GAINS-CURRENT> 673,015
<APPREC-INCREASE-CURRENT> (710,444)
<NET-CHANGE-FROM-OPS> 3,518,978
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,972,950
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,593,240
<NUMBER-OF-SHARES-REDEEMED> 1,067,106
<SHARES-REINVESTED> 83,347
<NET-CHANGE-IN-ASSETS> (15,095,604)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 3,516,824
<OVERDIST-NET-GAINS-PRIOR> 3,052,163
<GROSS-ADVISORY-FEES> 346,832
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,037,238
<AVERAGE-NET-ASSETS> 114,668,402
<PER-SHARE-NAV-BEGIN> 15.16
<PER-SHARE-NII> 0.50
<PER-SHARE-GAIN-APPREC> (0.01)
<PER-SHARE-DIVIDEND> 0.48
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 15.17
<EXPENSE-RATIO> 1.25
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<ARTICLE> 6
<SERIES>
[NUMBER] 7
<NAME> Smith Barney Global Bond Fund - Class B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Jul-31-1995
<PERIOD-END> Jan-31-1995
[INVESTMENTS-AT-COST] 107,743,426
[INVESTMENTS-AT-VALUE] 107,191,486
[RECEIVABLES] 58,501,254
[ASSETS-OTHER] 4,853,423
[OTHER-ITEMS-ASSETS] 1,695,066
[TOTAL-ASSETS] 172,241,229
[PAYABLE-FOR-SECURITIES] 2,953,433
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 61,874,543
[TOTAL-LIABILITIES] 64,827,976
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 113,835,799
[SHARES-COMMON-STOCK] 2,863,081
[SHARES-COMMON-PRIOR] 5,473,974
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 3,382,501
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] 2,379,148
[ACCUM-APPREC-OR-DEPREC] (660,897)
[NET-ASSETS] 107,413,253
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 4,420,229
[OTHER-INCOME] 0
[EXPENSES-NET] 863,822
[NET-INVESTMENT-INCOME] 3,556,407
[REALIZED-GAINS-CURRENT] 673,015
[APPREC-INCREASE-CURRENT] (710,444)
[NET-CHANGE-FROM-OPS] 3,518,978
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 1,447,969
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 293,689
[NUMBER-OF-SHARES-REDEEMED] 2,987,406
[SHARES-REINVESTED] 82,824
[NET-CHANGE-IN-ASSETS] (15,095,604)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 3,516,824
[OVERDIST-NET-GAINS-PRIOR] 3,052,163
[GROSS-ADVISORY-FEES] 346,832
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 1,037,238
[AVERAGE-NET-ASSETS] 114,668,402
[PER-SHARE-NAV-BEGIN] 15.16
[PER-SHARE-NII] 0.44
[PER-SHARE-GAIN-APPREC] 0.01
[PER-SHARE-DIVIDEND] 0.44
[PER-SHARE-DISTRIBUTIONS] 0.00
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 15.17
[EXPENSE-RATIO] 1.73
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<ARTICLE> 6
<SERIES>
[NUMBER] 7
<NAME> Smith Barney Global Bond Fund - Class C
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Jul-31-1995
<PERIOD-END> Jan-31-1995
[INVESTMENTS-AT-COST] 107,743,426
[INVESTMENTS-AT-VALUE] 107,191,486
[RECEIVABLES] 58,501,254
[ASSETS-OTHER] 4,853,423
[OTHER-ITEMS-ASSETS] 1,695,066
[TOTAL-ASSETS] 172,241,229
[PAYABLE-FOR-SECURITIES] 2,953,433
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 61,874,543
[TOTAL-LIABILITIES] 64,827,976
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 113,835,799
[SHARES-COMMON-STOCK] 2,394
[SHARES-COMMON-PRIOR] 1,846
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 3,382,501
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] 2,379,148
[ACCUM-APPREC-OR-DEPREC] (660,897)
[NET-ASSETS] 107,413,253
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 4,420,229
[OTHER-INCOME] 0
[EXPENSES-NET] 863,822
[NET-INVESTMENT-INCOME] 3,556,407
[REALIZED-GAINS-CURRENT] 673,015
[APPREC-INCREASE-CURRENT] (710,444)
[NET-CHANGE-FROM-OPS] 3,518,978
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 1,165
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 1,286
[NUMBER-OF-SHARES-REDEEMED] 815
[SHARES-REINVESTED] 77
[NET-CHANGE-IN-ASSETS] (15,095,604)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 3,516,824
[OVERDIST-NET-GAINS-PRIOR] 3,052,163
[GROSS-ADVISORY-FEES] 346,832
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 1,037,238
[AVERAGE-NET-ASSETS] 114,668,402
[PER-SHARE-NAV-BEGIN] 15.16
[PER-SHARE-NII] 0.48
[PER-SHARE-GAIN-APPREC] (0.03)
[PER-SHARE-DIVIDEND] 0.44
[PER-SHARE-DISTRIBUTIONS] 0.00
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 15.17
[EXPENSE-RATIO] 1.75
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 8
<NAME> Smith Barney High Income Fund. - Class A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Jul-31-1995
<PERIOD-END> Jan-31-1995
<INVESTMENTS-AT-COST> 743,349,524
<INVESTMENTS-AT-VALUE> 687,650,878
<RECEIVABLES> 24,359,756
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 93,196
<TOTAL-ASSETS> 712,103,830
<PAYABLE-FOR-SECURITIES> 4,577,292
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,359,287
<TOTAL-LIABILITIES> 5,936,579
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 994,232,452
<SHARES-COMMON-STOCK> 27,654,466
<SHARES-COMMON-PRIOR> 20,045,330
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 3,611,214
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 228,748,924
<ACCUM-APPREC-OR-DEPREC> (55,705,063)
<NET-ASSETS> 706,167,251
<DIVIDEND-INCOME> 1,388,493
<INTEREST-INCOME> 38,761,036
<OTHER-INCOME> 0
<EXPENSES-NET> 5,054,028
<NET-INVESTMENT-INCOME> 35,095,501
<REALIZED-GAINS-CURRENT> (22,699,414)
<APPREC-INCREASE-CURRENT> (24,802,824)
<NET-CHANGE-FROM-OPS> (12,406,737)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 14,583,915
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 10,548,207
<NUMBER-OF-SHARES-REDEEMED> 3,721,284
<SHARES-REINVESTED> 782,213
<NET-CHANGE-IN-ASSETS> (38,489,620)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 2,710,484
<OVERDIST-NET-GAINS-PRIOR> 206,049,510
<GROSS-ADVISORY-FEES> 1,800,691
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5,054,028
<AVERAGE-NET-ASSETS> 714,404,663
<PER-SHARE-NAV-BEGIN> 11.16
<PER-SHARE-NII> 0.53
<PER-SHARE-GAIN-APPREC> (0.69)
<PER-SHARE-DIVIDEND> 0.56
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.44
<EXPENSE-RATIO> 1.11
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<ARTICLE> 6
<SERIES>
[NUMBER] 8
<NAME> Smith Barney High Income Fund - Class B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Jul-31-1995
<PERIOD-END> Jan-31-1995
[INVESTMENTS-AT-COST] 743,349,524
[INVESTMENTS-AT-VALUE] 687,650,878
[RECEIVABLES] 24,359,756
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 93,196
[TOTAL-ASSETS] 712,103,830
[PAYABLE-FOR-SECURITIES] 4,577,292
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 1,359,287
[TOTAL-LIABILITIES] 5,936,579
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 994,232,452
[SHARES-COMMON-STOCK] 38,949,340
[SHARES-COMMON-PRIOR] 45,660,599
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 3,611,214
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] 228,748,924
[ACCUM-APPREC-OR-DEPREC] (55,705,063)
[NET-ASSETS] 706,167,251
[DIVIDEND-INCOME] 1,388,493
[INTEREST-INCOME] 38,761,036
[OTHER-INCOME] 0
[EXPENSES-NET] 5,054,028
[NET-INVESTMENT-INCOME] 35,095,501
[REALIZED-GAINS-CURRENT] (22,699,414)
[APPREC-INCREASE-CURRENT] (24,802,824)
[NET-CHANGE-FROM-OPS] (12,406,737)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 20,834,793
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 5,369,601
[NUMBER-OF-SHARES-REDEEMED] 13,056,692
[SHARES-REINVESTED] 975,832
[NET-CHANGE-IN-ASSETS] (38,489,620)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 2,710,484
[OVERDIST-NET-GAINS-PRIOR] 206,049,510
[GROSS-ADVISORY-FEES] 1,800,691
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 5,054,028
[AVERAGE-NET-ASSETS] 714,404,663
[PER-SHARE-NAV-BEGIN] 11.16
[PER-SHARE-NII] 0.52
[PER-SHARE-GAIN-APPREC] (0.71)
[PER-SHARE-DIVIDEND] 0.53
[PER-SHARE-DISTRIBUTIONS] 0.00
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 10.44
[EXPENSE-RATIO] 1.60
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<ARTICLE> 6
<SERIES>
[NUMBER] 8
<NAME> Smith Barney High Income Fund - Class C
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Jul-31-1995
<PERIOD-END> Jan-31-1995
[INVESTMENTS-AT-COST] 743,349,524
[INVESTMENTS-AT-VALUE] 687,650,878
[RECEIVABLES] 24,359,756
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 93,196
[TOTAL-ASSETS] 712,103,830
[PAYABLE-FOR-SECURITIES] 4,577,292
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 1,359,287
[TOTAL-LIABILITIES] 5,936,579
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 994,232,452
[SHARES-COMMON-STOCK] 133,472
[SHARES-COMMON-PRIOR] 1
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 3,611,214
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] 228,748,924
[ACCUM-APPREC-OR-DEPREC] (55,705,063)
[NET-ASSETS] 706,167,251
[DIVIDEND-INCOME] 1,388,493
[INTEREST-INCOME] 38,761,036
[OTHER-INCOME] 0
[EXPENSES-NET] 5,054,028
[NET-INVESTMENT-INCOME] 35,095,501
[REALIZED-GAINS-CURRENT] (22,699,414)
[APPREC-INCREASE-CURRENT] (24,802,824)
[NET-CHANGE-FROM-OPS] (12,406,737)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 16,888
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 148,818
[NUMBER-OF-SHARES-REDEEMED] 16,685
[SHARES-REINVESTED] 1,338
[NET-CHANGE-IN-ASSETS] (38,489,620)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 2,710,484
[OVERDIST-NET-GAINS-PRIOR] 206,049,510
[GROSS-ADVISORY-FEES] 1,800,691
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 5,054,028
[AVERAGE-NET-ASSETS] 714,404,663
[PER-SHARE-NAV-BEGIN] 10.90
[PER-SHARE-NII] 0.43
[PER-SHARE-GAIN-APPREC] (0.45)
[PER-SHARE-DIVIDEND] 0.44
[PER-SHARE-DISTRIBUTIONS] 0.00
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 10.44
[EXPENSE-RATIO] 1.56
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<ARTICLE> 6
<SERIES>
[NUMBER] 8
<NAME> Smith Barney High Income Fund - Class Z
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Jul-31-1995
<PERIOD-END> Jan-31-1995
[INVESTMENTS-AT-COST] 743,349,524
[INVESTMENTS-AT-VALUE] 687,650,878
[RECEIVABLES] 24,359,756
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 93,196
[TOTAL-ASSETS] 712,103,830
[PAYABLE-FOR-SECURITIES] 4,577,292
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 1,359,287
[TOTAL-LIABILITIES] 5,936,579
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 994,232,452
[SHARES-COMMON-STOCK] 935,118
[SHARES-COMMON-PRIOR] 1,018,864
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 3,611,214
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] 228,748,924
[ACCUM-APPREC-OR-DEPREC] (55,705,063)
[NET-ASSETS] 706,167,251
[DIVIDEND-INCOME] 1,388,493
[INTEREST-INCOME] 38,761,036
[OTHER-INCOME] 0
[EXPENSES-NET] 5,054,028
[NET-INVESTMENT-INCOME] 35,095,501
[REALIZED-GAINS-CURRENT] (22,699,414)
[APPREC-INCREASE-CURRENT] (24,802,824)
[NET-CHANGE-FROM-OPS] (12,406,737)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 560,635
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 9,481
[NUMBER-OF-SHARES-REDEEMED] 145,880
[SHARES-REINVESTED] 52,653
[NET-CHANGE-IN-ASSETS] (38,489,620)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 2,710,484
[OVERDIST-NET-GAINS-PRIOR] 206,049,510
[GROSS-ADVISORY-FEES] 1,800,691
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 5,054,028
[AVERAGE-NET-ASSETS] 714,404,663
[PER-SHARE-NAV-BEGIN] 11.16
[PER-SHARE-NII] 0.56
[PER-SHARE-GAIN-APPREC] (0.70)
[PER-SHARE-DIVIDEND] 0.58
[PER-SHARE-DISTRIBUTIONS] 0.00
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 10.44
[EXPENSE-RATIO] 0.76
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>9
<NAME> Utilities - Class A
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1995
<PERIOD-END> JAN-31-1995
<INVESTMENTS-AT-COST> 1,767,753,546
<INVESTMENTS-AT-VALUE> 1,722,028,643
<RECEIVABLES> 56,862,466
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,778,891,109
<PAYABLE-FOR-SECURITIES> 20,555,889
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4,786,481
<TOTAL-LIABILITIES> 25,342,370
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,820,593,974
<SHARES-COMMON-STOCK> 12,989,754
<SHARES-COMMON-PRIOR> 3,122,957
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (5,563,725)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (15,756,607)
<ACCUM-APPREC-OR-DEPREC> (45,724,903)
<NET-ASSETS> 1,753,548,739
<DIVIDEND-INCOME> 34,259,129
<INTEREST-INCOME> 30,466,344
<OTHER-INCOME> 0
<EXPENSES-NET> 13,164,878
<NET-INVESTMENT-INCOME> 51,560,595
<REALIZED-GAINS-CURRENT> (26,688,485)
<APPREC-INCREASE-CURRENT> 36,175,137
<NET-CHANGE-FROM-OPS> 61,047,247
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 4,249,761
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 11,623,094
<NUMBER-OF-SHARES-REDEEMED> 2,018,219
<SHARES-REINVESTED> 261,922
<NET-CHANGE-IN-ASSETS> (123,720,819)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 10,931,878
<OVERDISTRIB-NII-PRIOR> (2,665,596)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3,928,172
<INTEREST-EXPENSE> 36,668
<GROSS-EXPENSE> 13,164,878
<AVERAGE-NET-ASSETS> 1,731,621,670
<PER-SHARE-NAV-BEGIN> 13.2800
<PER-SHARE-NII> 0.3900
<PER-SHARE-GAIN-APPREC> 0.1100
<PER-SHARE-DIVIDEND> 0.4300
<PER-SHARE-DISTRIBUTIONS> 0.0000
<RETURNS-OF-CAPITAL> 0.0000
<PER-SHARE-NAV-END> 13.3500
<EXPENSE-RATIO> 1.15
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<ARTICLE> 6
<SERIES>
[NUMBER]9
<NAME> Utilities - Class B
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1995
<PERIOD-END> JAN-31-1995
[INVESTMENTS-AT-COST] 1,767,753,546
[INVESTMENTS-AT-VALUE] 1,722,028,643
[RECEIVABLES] 56,862,466
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 1,778,891,109
[PAYABLE-FOR-SECURITIES] 20,555,889
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 4,786,481
[TOTAL-LIABILITIES] 25,342,370
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 1,820,593,974
[SHARES-COMMON-STOCK] 117,232,151
[SHARES-COMMON-PRIOR] 137,282,790
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (5,563,725)
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] (15,756,607)
[ACCUM-APPREC-OR-DEPREC] (45,724,903)
[NET-ASSETS] 1,753,548,739
[DIVIDEND-INCOME] 34,259,129
[INTEREST-INCOME] 30,466,344
[OTHER-INCOME] 0
[EXPENSES-NET] 13,164,878
[NET-INVESTMENT-INCOME] 51,560,595
[REALIZED-GAINS-CURRENT] (26,688,485)
[APPREC-INCREASE-CURRENT] 36,175,137
[NET-CHANGE-FROM-OPS] 61,047,247
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 49,767,707
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 4,771,070
[NUMBER-OF-SHARES-REDEEMED] 27,721,591
[SHARES-REINVESTED] 2,899,882
[NET-CHANGE-IN-ASSETS] (123,720,819)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 10,931,878
[OVERDISTRIB-NII-PRIOR] (2,665,596)
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 3,928,172
[INTEREST-EXPENSE] 36,668
[GROSS-EXPENSE] 13,164,878
[AVERAGE-NET-ASSETS] 1,731,621,670
[PER-SHARE-NAV-BEGIN] 13.2800
[PER-SHARE-NII] 0.3700
[PER-SHARE-GAIN-APPREC] 0.1000
[PER-SHARE-DIVIDEND] 0.4000
[PER-SHARE-DISTRIBUTIONS] 0.0000
[RETURNS-OF-CAPITAL] 0.0000
[PER-SHARE-NAV-END] 13.3500
[EXPENSE-RATIO] 1.54
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<ARTICLE> 6
<SERIES>
[NUMBER]9
<NAME> Utilities - Class C
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1995
<PERIOD-END> JAN-31-1995
[INVESTMENTS-AT-COST] 1,767,753,546
[INVESTMENTS-AT-VALUE] 1,722,028,643
[RECEIVABLES] 56,862,466
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 1,778,891,109
[PAYABLE-FOR-SECURITIES] 20,555,889
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 4,786,481
[TOTAL-LIABILITIES] 25,342,370
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 1,820,593,974
[SHARES-COMMON-STOCK] 214,823
[SHARES-COMMON-PRIOR] 142,614
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (5,563,725)
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] (15,756,607)
[ACCUM-APPREC-OR-DEPREC] (45,724,903)
[NET-ASSETS] 1,753,548,739
[DIVIDEND-INCOME] 34,259,129
[INTEREST-INCOME] 30,466,344
[OTHER-INCOME] 0
[EXPENSES-NET] 13,164,878
[NET-INVESTMENT-INCOME] 51,560,595
[REALIZED-GAINS-CURRENT] (26,688,485)
[APPREC-INCREASE-CURRENT] 36,175,137
[NET-CHANGE-FROM-OPS] 61,047,247
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 72,201
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 103,580
[NUMBER-OF-SHARES-REDEEMED] 35,964
[SHARES-REINVESTED] 4,593
[NET-CHANGE-IN-ASSETS] (123,720,819)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 10,931,878
[OVERDISTRIB-NII-PRIOR] (2,665,596)
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 3,928,172
[INTEREST-EXPENSE] 36,668
[GROSS-EXPENSE] 13,164,878
[AVERAGE-NET-ASSETS] 1,731,621,670
[PER-SHARE-NAV-BEGIN] 13.2800
[PER-SHARE-NII] 0.3300
[PER-SHARE-GAIN-APPREC] 0.1400
[PER-SHARE-DIVIDEND] 0.4000
[PER-SHARE-DISTRIBUTIONS] 0.0000
[RETURNS-OF-CAPITAL] 0.0000
[PER-SHARE-NAV-END] 13.3500
[EXPENSE-RATIO] 1.43
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<ARTICLE> 6
<SERIES>
[NUMBER]9
<NAME> Utilities - Class Z
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1995
<PERIOD-END> JAN-31-1995
[INVESTMENTS-AT-COST] 1,767,753,546
[INVESTMENTS-AT-VALUE] 1,722,028,643
[RECEIVABLES] 56,862,466
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 1,778,891,109
[PAYABLE-FOR-SECURITIES] 20,555,889
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 4,786,481
[TOTAL-LIABILITIES] 25,342,370
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 1,820,593,974
[SHARES-COMMON-STOCK] 868,057
[SHARES-COMMON-PRIOR] 856,647
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (5,563,725)
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] (15,756,607)
[ACCUM-APPREC-OR-DEPREC] (45,724,903)
[NET-ASSETS] 1,753,548,739
[DIVIDEND-INCOME] 34,259,129
[INTEREST-INCOME] 30,466,344
[OTHER-INCOME] 0
[EXPENSES-NET] 13,164,878
[NET-INVESTMENT-INCOME] 51,560,595
[REALIZED-GAINS-CURRENT] (26,688,485)
[APPREC-INCREASE-CURRENT] 36,175,137
[NET-CHANGE-FROM-OPS] 61,047,247
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 369,055
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 142,089
[NUMBER-OF-SHARES-REDEEMED] 159,462
[SHARES-REINVESTED] 28,783
[NET-CHANGE-IN-ASSETS] (123,720,819)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 10,931,878
[OVERDISTRIB-NII-PRIOR] (2,665,596)
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 3,928,172
[INTEREST-EXPENSE] 36,668
[GROSS-EXPENSE] 13,164,878
[AVERAGE-NET-ASSETS] 1,731,621,670
[PER-SHARE-NAV-BEGIN] 13.2800
[PER-SHARE-NII] 0.4200
[PER-SHARE-GAIN-APPREC] 0.1000
[PER-SHARE-DIVIDEND] 0.4500
[PER-SHARE-DISTRIBUTIONS] 0.0000
[RETURNS-OF-CAPITAL] 0.0000
[PER-SHARE-NAV-END] 13.3500
[EXPENSE-RATIO] 0.67
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 10
<NAME> SB DIVERSIFIED STRATEGIC INCOME - CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JAN-31-1995
<PERIOD-END> JAN-31-1995
<INVESTMENTS-AT-COST> 2,508,486,463
<INVESTMENTS-AT-VALUE> 2,373,994,294
<RECEIVABLES> 562,230,590
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 6,968,426
<TOTAL-ASSETS> 2,943,193,310
<PAYABLE-FOR-SECURITIES> 219,326,055
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 301,802,815
<TOTAL-LIABILITIES> 521,128,870
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,663,513,454
<SHARES-COMMON-STOCK> 21,421,059
<SHARES-COMMON-PRIOR> 9,791,914
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 42,366,680
<ACCUMULATED-NET-GAINS> (63,629,427)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (135,452,907)
<NET-ASSETS> 2,422,064,440
<DIVIDEND-INCOME> 1,450,672
<INTEREST-INCOME> 118,735,632
<OTHER-INCOME> 0
<EXPENSES-NET> 18,795,678
<NET-INVESTMENT-INCOME> 101,390,626
<REALIZED-GAINS-CURRENT> (59,571,931)
<APPREC-INCREASE-CURRENT> (23,982,305)
<NET-CHANGE-FROM-OPS> 17,836,390
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 6,042,084
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 13,645,711
<NUMBER-OF-SHARES-REDEEMED> 2,506,874
<SHARES-REINVESTED> 490,308
<NET-CHANGE-IN-ASSETS> (135,493,226)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (4,057,496)
<OVERDISTRIB-NII-PRIOR> 40,386,368
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5,628,234
<INTEREST-EXPENSE> 48,857
<GROSS-EXPENSE> 19,421,037
<AVERAGE-NET-ASSETS> 2,481,045,314
<PER-SHARE-NAV-BEGIN> 7.76
<PER-SHARE-NII> 0.32
<PER-SHARE-GAIN-APPREC> (0.24)
<PER-SHARE-DIVIDEND> 0.34
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 7.50
<EXPENSE-RATIO> 1.08
<AVG-DEBT-OUTSTANDING> 1,701,630
<AVG-DEBT-PER-SHARE> 0.01
<ARTICLE> 6
<SERIES>
[NUMBER] 10
<NAME> SB DIVERSIFIED STRATEGIC INCOME - CLASS B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JAN-31-1995
<PERIOD-END> JAN-31-1995
[INVESTMENTS-AT-COST] 2,508,486,463
[INVESTMENTS-AT-VALUE] 2,373,994,294
[RECEIVABLES] 562,230,590
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 6,968,426
[TOTAL-ASSETS] 2,943,193,310
[PAYABLE-FOR-SECURITIES] 219,326,055
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 301,802,815
[TOTAL-LIABILITIES] 521,128,870
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 2,663,513,454
[SHARES-COMMON-STOCK] 299,290,202
[SHARES-COMMON-PRIOR] 318,021,578
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 42,366,680
[ACCUMULATED-NET-GAINS] (63,629,427)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] (135,452,907)
[NET-ASSETS] 2,422,064,440
[DIVIDEND-INCOME] 1,450,672
[INTEREST-INCOME] 118,735,632
[OTHER-INCOME] 0
[EXPENSES-NET] 18,795,678
[NET-INVESTMENT-INCOME] 101,390,626
[REALIZED-GAINS-CURRENT] (59,571,931)
[APPREC-INCREASE-CURRENT] (23,982,305)
[NET-CHANGE-FROM-OPS] 17,836,390
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 96,718,018
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 18,755,974
[NUMBER-OF-SHARES-REDEEMED] 44,721,955
[SHARES-REINVESTED] 7,234,605
[NET-CHANGE-IN-ASSETS] (135,493,226)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] (4,057,496)
[OVERDISTRIB-NII-PRIOR] 40,386,368
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 5,628,234
[INTEREST-EXPENSE] 48,857
[GROSS-EXPENSE] 19,421,037
[AVERAGE-NET-ASSETS] 2,481,045,314
[PER-SHARE-NAV-BEGIN] 7.76
[PER-SHARE-NII] 0.31
[PER-SHARE-GAIN-APPREC] (0.25)
[PER-SHARE-DIVIDEND] 0.32
[PER-SHARE-DISTRIBUTIONS] 0.00
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 7.50
[EXPENSE-RATIO] 1.53
[AVG-DEBT-OUTSTANDING] 1,701,630
[AVG-DEBT-PER-SHARE] 0.01
<ARTICLE> 6
<SERIES>
[NUMBER] 10
<NAME> SB DIVERSIFIED STRATEGIC INCOME - CLASS C
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JAN-31-1995
<PERIOD-END> JAN-31-1995
[INVESTMENTS-AT-COST] 2,508,486,463
[INVESTMENTS-AT-VALUE] 2,373,994,294
[RECEIVABLES] 562,230,590
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 6,968,426
[TOTAL-ASSETS] 2,943,193,310
[PAYABLE-FOR-SECURITIES] 219,326,055
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 301,802,815
[TOTAL-LIABILITIES] 521,128,870
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 2,663,513,454
[SHARES-COMMON-STOCK] 476,118
[SHARES-COMMON-PRIOR] 137,173
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 42,366,680
[ACCUMULATED-NET-GAINS] (63,629,427)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] (135,452,907)
[NET-ASSETS] 2,422,064,440
[DIVIDEND-INCOME] 1,450,672
[INTEREST-INCOME] 118,735,632
[OTHER-INCOME] 0
[EXPENSES-NET] 18,795,678
[NET-INVESTMENT-INCOME] 101,390,626
[REALIZED-GAINS-CURRENT] (59,571,931)
[APPREC-INCREASE-CURRENT] (23,982,305)
[NET-CHANGE-FROM-OPS] 17,836,390
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 71,037
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 342,899
[NUMBER-OF-SHARES-REDEEMED] 12,788
[SHARES-REINVESTED] 8,834
[NET-CHANGE-IN-ASSETS] (135,493,226)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] (4,057,496)
[OVERDISTRIB-NII-PRIOR] 40,386,368
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 5,628,234
[INTEREST-EXPENSE] 48,857
[GROSS-EXPENSE] 19,421,037
[AVERAGE-NET-ASSETS] 2,481,045,314
[PER-SHARE-NAV-BEGIN] 7.76
[PER-SHARE-NII] 0.30
[PER-SHARE-GAIN-APPREC] (0.24)
[PER-SHARE-DIVIDEND] 0.32
[PER-SHARE-DISTRIBUTIONS] 0.00
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 7.50
[EXPENSE-RATIO] 1.46
[AVG-DEBT-OUTSTANDING] 1,701,630
[AVG-DEBT-PER-SHARE] 0.01
<ARTICLE> 6
<SERIES>
[NUMBER] 10
<NAME> SB DIVERSIFIED STRATEGIC INCOME - CLASS Z
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JAN-31-1995
<PERIOD-END> JAN-31-1995
[INVESTMENTS-AT-COST] 2,508,486,463
[INVESTMENTS-AT-VALUE] 2,373,994,294
[RECEIVABLES] 562,230,590
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 6,968,426
[TOTAL-ASSETS] 2,943,193,310
[PAYABLE-FOR-SECURITIES] 219,326,055
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 301,802,815
[TOTAL-LIABILITIES] 521,128,870
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 2,663,513,454
[SHARES-COMMON-STOCK] 1,640,316
[SHARES-COMMON-PRIOR] 1,488,000
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 42,366,680
[ACCUMULATED-NET-GAINS] (63,629,427)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] (135,452,907)
[NET-ASSETS] 2,422,064,440
[DIVIDEND-INCOME] 1,450,672
[INTEREST-INCOME] 118,735,632
[OTHER-INCOME] 0
[EXPENSES-NET] 18,795,678
[NET-INVESTMENT-INCOME] 101,390,626
[REALIZED-GAINS-CURRENT] (59,571,931)
[APPREC-INCREASE-CURRENT] (23,982,305)
[NET-CHANGE-FROM-OPS] 17,836,390
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 539,799
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 213,264
[NUMBER-OF-SHARES-REDEEMED] 131,191
[SHARES-REINVESTED] 70,243
[NET-CHANGE-IN-ASSETS] (135,493,226)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] (4,057,496)
[OVERDISTRIB-NII-PRIOR] 40,386,368
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 5,628,234
[INTEREST-EXPENSE] 48,857
[GROSS-EXPENSE] 19,421,037
[AVERAGE-NET-ASSETS] 2,481,045,314
[PER-SHARE-NAV-BEGIN] 7.76
[PER-SHARE-NII] 0.34
[PER-SHARE-GAIN-APPREC] (0.25)
[PER-SHARE-DIVIDEND] 0.35
[PER-SHARE-DISTRIBUTIONS] 0.00
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 7.50
[EXPENSE-RATIO] 0.72
[AVG-DEBT-OUTSTANDING] 1,701,630
[AVG-DEBT-PER-SHARE] 0.01
</TABLE>
