<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 20
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<PAGE> PAGE 21
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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<PAGE> PAGE 31
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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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 37
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<PAGE> PAGE 38
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<PAGE> PAGE 39
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008 A001001 PILGRIM BAXTER & ASSOCIATES
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<PAGE> PAGE 40
010 C031001 10013
013 A001001 KPMG PEAT MARWICK LLP
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<PAGE> PAGE 41
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050 001000 N
051 001000 N
052 001000 N
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055 A001000 N
055 B001000 N
056 001000 N
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<PAGE> PAGE 42
060 B001000 Y
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<PAGE> PAGE 43
070 K011000 N
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<PAGE> PAGE 44
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013 A001101 KPMG PEAT MARWICK LLP
013 B011101 NEW YORK
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<PAGE> PAGE 45
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<PAGE> PAGE 46
048 I011100 0
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070 K011100 N
<PAGE> PAGE 47
070 K021100 N
070 L011100 Y
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070 R021100 N
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<PAGE> PAGE 48
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013 A001201 KPMG PEAT MARWICK LLP
013 B011201 NEW YORK
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013 B031201 10013
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<PAGE> PAGE 49
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<PAGE> PAGE 50
048 I021200 0.000
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062 A001200 Y
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066 A001200 N
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070 A011200 Y
070 A021200 Y
070 B011200 Y
070 B021200 N
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070 C021200 N
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070 D021200 N
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070 E021200 N
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070 F021200 N
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070 G021200 N
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070 J011200 Y
070 J021200 Y
070 K011200 N
<PAGE> PAGE 51
070 K021200 N
070 L011200 Y
070 L021200 Y
070 M011200 Y
070 M021200 Y
070 N011200 Y
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070 O011200 Y
070 O021200 N
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070 P021200 N
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070 Q021200 N
070 R011200 N
070 R021200 N
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<PAGE> PAGE 52
072EE001200 3361
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013 A001301 KPMG PEAT MARWICK LLP
013 B011301 NEW YORK
013 B021301 NY
013 B031301 10013
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<PAGE> PAGE 53
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<PAGE> PAGE 54
048 I021300 0.000
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<PAGE> PAGE 55
070 L011300 Y
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<PAGE> PAGE 56
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SIGNATURE THOMAS M. REYNOLDS
TITLE CONTROLLER
[ARTICLE] 6
[CIK] 0000875186
[NAME] CONSULTING GROUP CAPITAL MARKETS FUNDS
[SERIES]
[NUMBER] 1
[NAME] GOVERNMENT MONEY MARKET
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] AUG-31-1997
[PERIOD-END] FEB-28-1997
[INVESTMENTS-AT-COST] 289,711,020
[INVESTMENTS-AT-VALUE] 289,711,020
[RECEIVABLES] 2,539,312
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 292,451,741
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 696,227
[TOTAL-LIABILITIES] 696,227
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 291,510,723
[SHARES-COMMON-STOCK] 291,802
[SHARES-COMMON-PRIOR] 0
[ACCUMULATED-NII-CURRENT] 7,065,130
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] (54,539)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 0
[NET-ASSETS] 291,755,514
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 7,973,386
[OTHER-INCOME] 0
[EXPENSES-NET] 908,256
[NET-INVESTMENT-INCOME] 7,065,130
[REALIZED-GAINS-CURRENT] (494)
[APPREC-INCREASE-CURRENT] 0
[NET-CHANGE-FROM-OPS] 7,064,636
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 7,063,981
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 311,645,752
[NUMBER-OF-SHARES-REDEEMED] 7,180,719
[SHARES-REINVESTED] 305,233,372
[NET-CHANGE-IN-ASSETS] 13,593,099
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 512,608
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 908,256
[AVERAGE-NET-ASSETS] 296,319,705
[PER-SHARE-NAV-BEGIN] 1.00
[PER-SHARE-NII] 0.02
[PER-SHARE-GAIN-APPREC] 0
[PER-SHARE-DIVIDEND] 0.02
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 1.00
[EXPENSE-RATIO] 0.62
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000875186
[NAME] CONSULTING GROUP CAPITAL MARKETS FUNDS
[SERIES]
[NUMBER] 2
[NAME] INTERMEDIATE FIXED INCOME
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] AUG-31-1997
[PERIOD-END] FEB-28-1997
[INVESTMENTS-AT-COST] 312,116,737
[INVESTMENTS-AT-VALUE] 310,669,518
[RECEIVABLES] 19,515,379
[ASSETS-OTHER] 457
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 330,185,354
[PAYABLE-FOR-SECURITIES] 13,746,426
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 1,803,162
[TOTAL-LIABILITIES] 15,549,588
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 323,250,925
[SHARES-COMMON-STOCK] 39,213,643
[SHARES-COMMON-PRIOR] 37,386,377
[ACCUMULATED-NII-CURRENT] 26,727
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] 7,194,667
[ACCUM-APPREC-OR-DEPREC] (1,447,219)
[NET-ASSETS] 314,635,766
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 10,566,004
[OTHER-INCOME] 0
[EXPENSES-NET] 1,126,323
[NET-INVESTMENT-INCOME] 9,439,681
[REALIZED-GAINS-CURRENT] 134,061
[APPREC-INCREASE-CURRENT] 3,993,441
[NET-CHANGE-FROM-OPS] 13,567,183
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 9,749,791
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 8,490,629
[NUMBER-OF-SHARES-REDEEMED] (7,648,425)
[SHARES-REINVESTED] 985,062
[NET-CHANGE-IN-ASSETS] 1,827,266
[ACCUMULATED-NII-PRIOR] 336,837
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] (7,328,728)
[GROSS-ADVISORY-FEES] 607,196
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 1,126,323
[AVERAGE-NET-ASSETS] 306,795,813
[PER-SHARE-NAV-BEGIN] 7.92
[PER-SHARE-NII] 0.25
[PER-SHARE-GAIN-APPREC] 0.11
[PER-SHARE-DIVIDEND] 0.26
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 8.02
[EXPENSE-RATIO] 0.74
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000875186
[NAME] CONSULTING GROUP CAPITAL MARKETS FUNDS
[SERIES]
[NUMBER] 3
[NAME] LONG TERM BOND INVESTMENT
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] AUG-31-1997
[PERIOD-END] FEB-28-1997
[INVESTMENTS-AT-COST] 163,847,957
[INVESTMENTS-AT-VALUE] 163,672,046
[RECEIVABLES] 6,464,676
[ASSETS-OTHER] 703
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 170,137,425
[PAYABLE-FOR-SECURITIES] 3,686,857
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 1,079,610
[TOTAL-LIABILITIES] 4,766,467
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 166,788,243
[SHARES-COMMON-STOCK] 0
[SHARES-COMMON-PRIOR] 0
[ACCUMULATED-NII-CURRENT] 5,301,835
[OVERDISTRIBUTION-NII] (107,680)
[ACCUMULATED-NET-GAINS] (1,133,688)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 5,117,609
[NET-ASSETS] 165,370,958
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 5,943,075
[OTHER-INCOME] 0
[EXPENSES-NET] 641,240
[NET-INVESTMENT-INCOME] 5,301,835
[REALIZED-GAINS-CURRENT] 607,597
[APPREC-INCREASE-CURRENT] 5,117,609
[NET-CHANGE-FROM-OPS] 11,027,041
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 6,606,892
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 3,797,848
[NUMBER-OF-SHARES-REDEEMED] 3,856,809
[SHARES-REINVESTED] 664,620
[NET-CHANGE-IN-ASSETS] 605,659
[ACCUMULATED-NII-PRIOR] 1,197,377
[ACCUMULATED-GAINS-PRIOR] (1,741,285)
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 324,829
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 324,829
[AVERAGE-NET-ASSETS] 164,266,249
[PER-SHARE-NAV-BEGIN] 7.87
[PER-SHARE-NII] 0.26
[PER-SHARE-GAIN-APPREC] 0.30
[PER-SHARE-DIVIDEND] 0.33
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 8.10
[EXPENSE-RATIO] 0.79
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000875186
[NAME] CONSULTING GROUP CAPITAL MARKETS FUNDS
[SERIES]
[NUMBER] 4
[NAME] MUNICIPAL BOND INVESTMENT
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] AUG-31-1997
[PERIOD-END] FEB-28-1997
[INVESTMENTS-AT-COST] 44,152,066
[INVESTMENTS-AT-VALUE] 44,648,406
[RECEIVABLES] 1,633,412
[ASSETS-OTHER] 3,977
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 46,285,795
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 246,143
[TOTAL-LIABILITIES] 246,143
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 47,488,982
[SHARES-COMMON-STOCK] 5,514,800
[SHARES-COMMON-PRIOR] 5,627,070
[ACCUMULATED-NII-CURRENT] 34,566
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] (1,980,236)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 496,340
[NET-ASSETS] 46,039,652
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 1,215,468
[OTHER-INCOME] 0
[EXPENSES-NET] 183,455
[NET-INVESTMENT-INCOME] 1,032,013
[REALIZED-GAINS-CURRENT] (71,980)
[APPREC-INCREASE-CURRENT] 1,357,438
[NET-CHANGE-FROM-OPS] 2,317,471
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 1,032,013
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 1,883,081
[NUMBER-OF-SHARES-REDEEMED] 2,183,890
[SHARES-REINVESTED] 89,539
[NET-CHANGE-IN-ASSETS] (445,194)
[ACCUMULATED-NII-PRIOR] 12,879
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 137,591
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 56,484
[AVERAGE-NET-ASSETS] 46,241,874
[PER-SHARE-NAV-BEGIN] 8.26
[PER-SHARE-NII] 0.19
[PER-SHARE-GAIN-APPREC] 0.23
[PER-SHARE-DIVIDEND] 0.18
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 8.50
[EXPENSE-RATIO] 4.50
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000875186
[NAME] CONSULTING GROUP CAPITAL MARKETS FUNDS
[SERIES]
[NUMBER] 5
[NAME] MORGAGE BACKED INVESTMENT
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] AUG-31-1997
[PERIOD-END] FEB-28-1997
[INVESTMENTS-AT-COST] 138,909,796
[INVESTMENTS-AT-VALUE] 137,994,792
[RECEIVABLES] 30,037,279
[ASSETS-OTHER] 759
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 168,032,830
[PAYABLE-FOR-SECURITIES] 28,744,958
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 10,957,738
[TOTAL-LIABILITIES] 39,702,696
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 130,490,471
[SHARES-COMMON-STOCK] 16,263,014
[SHARES-COMMON-PRIOR] 15,617,018
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 225,548
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] 1,057,035
[ACCUM-APPREC-OR-DEPREC] (877,754)
[NET-ASSETS] 128,330,134
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 4,362,401
[OTHER-INCOME] 0
[EXPENSES-NET] 497,565
[NET-INVESTMENT-INCOME] 3,864,836
[REALIZED-GAINS-CURRENT] 35,625
[APPREC-INCREASE-CURRENT] 2,431,907
[NET-CHANGE-FROM-OPS] 6,332,638
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 4,062,312
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 2,466,593
[NUMBER-OF-SHARES-REDEEMED] 2,310,887
[SHARES-REINVESTED] 490,290
[NET-CHANGE-IN-ASSETS] 7,384,798
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 28,072
[OVERDIST-NET-GAINS-PRIOR] 1,092,660
[GROSS-ADVISORY-FEES] 312,236
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 278,822
[AVERAGE-NET-ASSETS] 125,974,804
[PER-SHARE-NAV-BEGIN] 7.74
[PER-SHARE-NII] 0.24
[PER-SHARE-GAIN-APPREC] 0.16
[PER-SHARE-DIVIDEND] 0.26
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 7.88
[EXPENSE-RATIO] 0.80
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000875186
[NAME] CONSULTING GROUP CAPITAL MARKETS FUNDS
[SERIES]
[NUMBER] 6
[NAME] BALANCED PORTFOLIO
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] AUG-31-1997
[PERIOD-END] FEB-28-1997
[INVESTMENTS-AT-COST] 52,332,804
[INVESTMENTS-AT-VALUE] 61,498,808
[RECEIVABLES] 245,852
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 18,288
[TOTAL-ASSETS] 61,762,948
[PAYABLE-FOR-SECURITIES] 905,905
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 253,882
[TOTAL-LIABILITIES] 1,159,787
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 50,755,329
[SHARES-COMMON-STOCK] 5,509,058
[SHARES-COMMON-PRIOR] 5,028,511
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 2,922
[ACCUMULATED-NET-GAINS] 684,750
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 9,166,004
[NET-ASSETS] 60,603,161
[DIVIDEND-INCOME] 453,116
[INTEREST-INCOME] 531,017
[OTHER-INCOME] 0
[EXPENSES-NET] 281,767
[NET-INVESTMENT-INCOME] 702,366
[REALIZED-GAINS-CURRENT] 766,568
[APPREC-INCREASE-CURRENT] 5,900,834
[NET-CHANGE-FROM-OPS] 6,667,402
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 815,306
[DISTRIBUTIONS-OF-GAINS] 1,389,750
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 1,555,268
[NUMBER-OF-SHARES-REDEEMED] 1,270,956
[SHARES-REINVESTED] 196,235
[NET-CHANGE-IN-ASSETS] 10,322,374
[ACCUMULATED-NII-PRIOR] 110,018
[ACCUMULATED-GAINS-PRIOR] 1,307,932
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 168,325
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 300,276
[AVERAGE-NET-ASSETS] 56,631,016
[PER-SHARE-NAV-BEGIN] 10.00
[PER-SHARE-NII] 00.13
[PER-SHARE-GAIN-APPREC] 01.28
[PER-SHARE-DIVIDEND] 00.15
[PER-SHARE-DISTRIBUTIONS] 00.26
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 11.00
[EXPENSE-RATIO] 01.00
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000875186
[NAME] CONSULTING GROUP CAPITAL MARKETS FUNDS
[SERIES]
[NUMBER] 7
[NAME] LARGE CAP VALUE EQUITY INVESTMENT
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] AUG-31-1997
[PERIOD-END] FEB-28-1997
[INVESTMENTS-AT-COST] 1,379,056,233
[INVESTMENTS-AT-VALUE] 1,763,186,926
[RECEIVABLES] 11,183,826
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 1,055
[TOTAL-ASSETS] 1,773,371,807
[PAYABLE-FOR-SECURITIES] 5,179,599
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 1,109,857
[TOTAL-LIABILITIES] 6,289,456
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 1,295,372,384
[SHARES-COMMON-STOCK] 135,954,398
[SHARES-COMMON-PRIOR] 130,926,138
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (6,654,219)
[ACCUMULATED-NET-GAINS] 95,333,493
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 383,130,693
[NET-ASSETS] 1,767,082,351
[DIVIDEND-INCOME] 21,229,024
[INTEREST-INCOME] 404,118
[OTHER-INCOME] 0
[EXPENSES-NET] 6,353,705
[NET-INVESTMENT-INCOME] 15,279,437
[REALIZED-GAINS-CURRENT] 119,538,319
[APPREC-INCREASE-CURRENT] 177,850,095
[NET-CHANGE-FROM-OPS] 312,667,851
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 44,380,995
[DISTRIBUTIONS-OF-GAINS] 78,157,401
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 21,094,586
[NUMBER-OF-SHARES-REDEEMED] 25,657,339
[SHARES-REINVESTED] 9,591,013
[NET-CHANGE-IN-ASSETS] 254,631,700
[ACCUMULATED-NII-PRIOR] 22,347,339
[ACCUMULATED-GAINS-PRIOR] 53,952,575
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 4,004,513
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 6,353,705
[AVERAGE-NET-ASSETS] 1,651,663,357
[PER-SHARE-NAV-BEGIN] 11.55
[PER-SHARE-NII] 00.12
[PER-SHARE-GAIN-APPREC] 02.29
[PER-SHARE-DIVIDEND] 00.34
[PER-SHARE-DISTRIBUTIONS] 00.62
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 13.00
[EXPENSE-RATIO] 00.78
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000875186
[NAME] CONSULTING GROUP CAPITAL MARKETS FUNDS
[SERIES]
[NUMBER] 8
[NAME] LARGE CAP GROWTH INVESTMENT
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] AUG-31-1997
[PERIOD-END] FEB-28-1997
[INVESTMENTS-AT-COST] 1,196,923
[INVESTMENTS-AT-VALUE] 1,570,384
[RECEIVABLES] 40,566
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 1,610,950
[PAYABLE-FOR-SECURITIES] 37,109
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 1,100
[TOTAL-LIABILITIES] 38,209
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 1,162,470
[SHARES-COMMON-STOCK] 104,868
[SHARES-COMMON-PRIOR] 0
[ACCUMULATED-NII-CURRENT] 765
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 33,983
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 375,523
[NET-ASSETS] 1,572,741
[DIVIDEND-INCOME] 7,564
[INTEREST-INCOME] 1,340
[OTHER-INCOME] 0
[EXPENSES-NET] 5,526
[NET-INVESTMENT-INCOME] 3,379
[REALIZED-GAINS-CURRENT] 39,573
[APPREC-INCREASE-CURRENT] 198,405
[NET-CHANGE-FROM-OPS] 237,976
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 8,126
[DISTRIBUTIONS-OF-GAINS] 52,552
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 21,429
[NUMBER-OF-SHARES-REDEEMED] 12,717
[SHARES-REINVESTED] 4,117
[NET-CHANGE-IN-ASSETS] 376,324
[ACCUMULATED-NII-PRIOR] 765
[ACCUMULATED-GAINS-PRIOR] 33,983
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 3,464
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 5,526
[AVERAGE-NET-ASSETS] 1,141,945
[PER-SHARE-NAV-BEGIN] 13.10
[PER-SHARE-NII] 00.03
[PER-SHARE-GAIN-APPREC] 02.49
[PER-SHARE-DIVIDEND] 00.62
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 15.00
[EXPENSE-RATIO] 00.78
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000875186
[NAME] CONSULTING GROUP CAPITAL MARKETS FUNDS
[SERIES]
[NUMBER] 9
[NAME] SMALL CAPITALIZATION VALUE EQUITY INVESTMENT
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] AUG-31-1997
[PERIOD-END] FEB-28-1997
[INVESTMENTS-AT-COST] 416,452,679
[INVESTMENTS-AT-VALUE] 512,478,193
[RECEIVABLES] 5,417,310
[ASSETS-OTHER] 168,265
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 518,063,768
[PAYABLE-FOR-SECURITIES] 4,369,375
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 369,572
[TOTAL-LIABILITIES] 4,738,947
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 402,393,406
[SHARES-COMMON-STOCK] 42,685,656
[SHARES-COMMON-PRIOR] 43,091,306
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (16,556)
[ACCUMULATED-NET-GAINS] 14,922,457
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 96,025,514
[NET-ASSETS] 513,324,821
[DIVIDEND-INCOME] 6,096,266
[INTEREST-INCOME] 207,293
[OTHER-INCOME] 0
[EXPENSES-NET] 2,124,191
[NET-INVESTMENT-INCOME] 4,179,368
[REALIZED-GAINS-CURRENT] 25,441,329
[APPREC-INCREASE-CURRENT] 53,516,780
[NET-CHANGE-FROM-OPS] 83,137,477
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 8,320,877
[DISTRIBUTIONS-OF-GAINS] 34,884,922
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 8,687,232
[NUMBER-OF-SHARES-REDEEMED] 12,811,299
[SHARES-REINVESTED] 3,718,417
[NET-CHANGE-IN-ASSETS] 34,440,750
[ACCUMULATED-NII-PRIOR] 4,124,953
[ACCUMULATED-GAINS-PRIOR] 24,366,050
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 1,292,627
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 1,292,627
[AVERAGE-NET-ASSETS] 491,690,188
[PER-SHARE-NAV-BEGIN] 11.11
[PER-SHARE-NII] 00.10
[PER-SHARE-GAIN-APPREC] 01.89
[PER-SHARE-DIVIDEND] 00.19
[PER-SHARE-DISTRIBUTIONS] 00.88
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 12.03
[EXPENSE-RATIO] 00.87
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000875186
[NAME] CONSULTING GROUP CAPITAL MARKETS FUNDS
[SERIES]
[NUMBER] 10
[NAME] SMALL CAPITALIZATION GROWTH INVESTMENT
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] AUG-31-1997
[PERIOD-END] FEB-28-1997
[INVESTMENTS-AT-COST] 552,954,207
[INVESTMENTS-AT-VALUE] 577,477,789
[RECEIVABLES] 2,795,605
[ASSETS-OTHER] 350
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 580,273,744
[PAYABLE-FOR-SECURITIES] 1,036,191
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 496,635
[TOTAL-LIABILITIES] 1,532,826
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 541,915,000
[SHARES-COMMON-STOCK] 0
[SHARES-COMMON-PRIOR] 0
[ACCUMULATED-NII-CURRENT] (932,242)
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 13,484,888
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 24,273,272
[NET-ASSETS] 578,740,918
[DIVIDEND-INCOME] 983,491
[INTEREST-INCOME] 481,134
[OTHER-INCOME] 0
[EXPENSES-NET] 2,396,867
[NET-INVESTMENT-INCOME] (932,242)
[REALIZED-GAINS-CURRENT] 28,248,889
[APPREC-INCREASE-CURRENT] (43,827,204)
[NET-CHANGE-FROM-OPS] (16,510,557)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 71,806,746
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 17,454,990
[NUMBER-OF-SHARES-REDEEMED] 11,686,381
[SHARES-REINVESTED] 4,411,606
[NET-CHANGE-IN-ASSETS] 10,180,215
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 57,042,745
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 1,333,635
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 1,333,635
[AVERAGE-NET-ASSETS] 569,389,955
[PER-SHARE-NAV-BEGIN] 17.79
[PER-SHARE-NII] (0.03)
[PER-SHARE-GAIN-APPREC] (0.21)
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 02.31
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 15.24
[EXPENSE-RATIO] 00.85
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000875186
[NAME] CONSULTING GROUP CAPITAL MARKETS FUNDS
[SERIES]
[NUMBER] 11
[NAME] INTERNATIONAL EQUITY INVESTMENT
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] AUG-31-1997
[PERIOD-END] FEB-28-1997
[INVESTMENTS-AT-COST] 903,972,067
[INVESTMENTS-AT-VALUE] 941,308,843
[RECEIVABLES] 4,952,196
[ASSETS-OTHER] 27,937,466
[OTHER-ITEMS-ASSETS] 12,686,017
[TOTAL-ASSETS] 986,884,522
[PAYABLE-FOR-SECURITIES] 14,319,482
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 8,309,124
[TOTAL-LIABILITIES] 22,628,606
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 927,436,764
[SHARES-COMMON-STOCK] 96,978,289
[SHARES-COMMON-PRIOR] 80,446,288
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (9,803,929)
[ACCUMULATED-NET-GAINS] 7,602,025
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 39,021,056
[NET-ASSETS] 964,255,916
[DIVIDEND-INCOME] 3,886,754
[INTEREST-INCOME] 1,451,732
[OTHER-INCOME] 0
[EXPENSES-NET] 4,122,222
[NET-INVESTMENT-INCOME] 1,216,264
[REALIZED-GAINS-CURRENT] 5,719,953
[APPREC-INCREASE-CURRENT] 14,468,017
[NET-CHANGE-FROM-OPS] 21,404,234
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 11,115,299
[DISTRIBUTIONS-OF-GAINS] 58,250,387
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 319,354,805
[NUMBER-OF-SHARES-REDEEMED] 150,867,004
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] 168,487,801
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 59,286,761
[OVERDISTRIB-NII-PRIOR] 957,182
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 3,252,539
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 4,122,222
[AVERAGE-NET-ASSETS] 890,098,257
[PER-SHARE-NAV-BEGIN] 10.49
[PER-SHARE-NII] 00.02
[PER-SHARE-GAIN-APPREC] (0.25)
[PER-SHARE-DIVIDEND] 00.12
[PER-SHARE-DISTRIBUTIONS] 00.70
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 09.94
[EXPENSE-RATIO] 00.93
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000875186
[NAME] CONSULTING GROUP CAPITAL MARKETS FUNDS
[SERIES]
[NUMBER] 12
[NAME] INTERNATIONAL FIXED INCOME INVESTMENT
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] AUG-31-1997
[PERIOD-END] FEB-28-1997
[INVESTMENTS-AT-COST] 127,798,142
[INVESTMENTS-AT-VALUE] 122,921,200
[RECEIVABLES] 21,502,545
[ASSETS-OTHER] 9,960,867
[OTHER-ITEMS-ASSETS] 23,311
[TOTAL-ASSETS] 154,407,923
[PAYABLE-FOR-SECURITIES] 25,836,065
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 1,099,694
[TOTAL-LIABILITIES] 26,935,759
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 128,886,098
[SHARES-COMMON-STOCK] 14,883,098
[SHARES-COMMON-PRIOR] 14,201,520
[ACCUMULATED-NII-CURRENT] 1,780,783
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 1,524,064
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] (4,718,781)
[NET-ASSETS] 127,472,164
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 4,475,140
[OTHER-INCOME] 10,540
[EXPENSES-NET] 614,294
[NET-INVESTMENT-INCOME] 3,850,306
[REALIZED-GAINS-CURRENT] 3,086,969
[APPREC-INCREASE-CURRENT] (7,214,058)
[NET-CHANGE-FROM-OPS] (276,783)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 4,381,709
[DISTRIBUTIONS-OF-GAINS] 3,360,508
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 24,773,817
[NUMBER-OF-SHARES-REDEEMED] 122,869,397
[SHARES-REINVESTED] 4,176,363
[NET-CHANGE-IN-ASSETS] 6,080,783
[ACCUMULATED-NII-PRIOR] 1,474,190
[ACCUMULATED-GAINS-PRIOR] 2,635,599
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 449,130
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 614,294
[AVERAGE-NET-ASSETS] 129,733,842
[PER-SHARE-NAV-BEGIN] 9.11
[PER-SHARE-NII] 0.27
[PER-SHARE-GAIN-APPREC] (0.26)
[PER-SHARE-DIVIDEND] 0.31
[PER-SHARE-DISTRIBUTIONS] 0.24
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 8.56
[EXPENSE-RATIO] 0.95
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000875186
[NAME] CONSULTING GROUP CAPITAL MARKETS FUNDS
[SERIES]
[NUMBER] 13
[NAME] EMERGING MARKET EQUITY INVESTMENT
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] AUG-31-1997
[PERIOD-END] FEB-28-1997
[INVESTMENTS-AT-COST] 175,421,055
[INVESTMENTS-AT-VALUE] 198,400,837
[RECEIVABLES] 3,359,813
[ASSETS-OTHER] 1,042,102
[OTHER-ITEMS-ASSETS] 6,335,263
[TOTAL-ASSETS] 209,129,015
[PAYABLE-FOR-SECURITIES] 2,001,691
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 332,827
[TOTAL-LIABILITIES] 2,334,518
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 182,517,781
[SHARES-COMMON-STOCK] 21,566,014
[SHARES-COMMON-PRIOR] 11,474,511
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (804,908)
[ACCUMULATED-NET-GAINS] 2,114,843
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 22,966,781
[NET-ASSETS] 206,794,497
[DIVIDEND-INCOME] 633,102
[INTEREST-INCOME] 305,894
[OTHER-INCOME] 0
[EXPENSES-NET] 1,047,566
[NET-INVESTMENT-INCOME] 108,570
[REALIZED-GAINS-CURRENT] 2,053,093
[APPREC-INCREASE-CURRENT] 21,621,352
[NET-CHANGE-FROM-OPS] 23,565,875
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 236,636
[DISTRIBUTIONS-OF-GAINS] 274,654
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 139,176,845
[NUMBER-OF-SHARES-REDEEMED] 53,434,941
[SHARES-REINVESTED] 508,577
[NET-CHANGE-IN-ASSETS] 109,305,066
[ACCUMULATED-NII-PRIOR] 243,721
[ACCUMULATED-GAINS-PRIOR] 120,421
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 824,114
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 1,047,566
[AVERAGE-NET-ASSETS] 134,950,407
[PER-SHARE-NAV-BEGIN] 8.50
[PER-SHARE-NII] 1.09
[PER-SHARE-GAIN-APPREC] 0
[PER-SHARE-DIVIDEND] 0.01
[PER-SHARE-DISTRIBUTIONS] 0.01
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 9.57
[EXPENSE-RATIO] 1.55
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
