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<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000875186
<NAME> S&P 500 INDEX INVESTMENTS
<SERIES>
<NUMBER>016
<NAME>Consulting Group Capital Markets Funds
<S> <C>
<PERIOD-TYPE> 1-Year
<FISCAL-YEAR-END> Aug-31-2000
<PERIOD-END> Aug-31-2000
<INVESTMENTS-AT-COST> 32,809,211
<INVESTMENTS-AT-VALUE> 35,235,116
<RECEIVABLES> 221,280
<ASSETS-OTHER> 361
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 35,456,757
<PAYABLE-FOR-SECURITIES> 71,014
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 20,359
<TOTAL-LIABILITIES> 91,373
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 31,114,442
<SHARES-COMMON-STOCK> 3,757,014
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 199,315
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,514,104
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,537,523
<NET-ASSETS> 35,365,384
<DIVIDEND-INCOME> 284,782
<INTEREST-INCOME> 143,834
<OTHER-INCOME> 0
<EXPENSES-NET> 78,996
<NET-INVESTMENT-INCOME> 349,620
<REALIZED-GAINS-CURRENT> 1,514,104
<APPREC-INCREASE-CURRENT> 2,537,523
<NET-CHANGE-FROM-OPS> 4,401,247
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 150,305
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,235,418
<NUMBER-OF-SHARES-REDEEMED> 2,494,953
<SHARES-REINVESTED> 16,549
<NET-CHANGE-IN-ASSETS> 35,365,384
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 31,884
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 217,884
<AVERAGE-NET-ASSETS> 28,987,882
<PER-SHARE-NAV-BEGIN> 8.000
<PER-SHARE-NII> 0.110
<PER-SHARE-GAIN-APPREC> 1.350
<PER-SHARE-DIVIDEND> 0.050
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 9.410
<EXPENSE-RATIO> 0.30
</TABLE>
