WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000875186
<NAME> Mortgage Backed Investments
<SERIES>
<NUMBER>005
<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> 101,654,057
<INVESTMENTS-AT-VALUE> 99,713,440
<RECEIVABLES> 871,794
<ASSETS-OTHER> 39
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 100,585,273
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 243,415
<TOTAL-LIABILITIES> 243,415
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 103,208,791
<SHARES-COMMON-STOCK> 12,800,954
<SHARES-COMMON-PRIOR> 16,961,221
<ACCUMULATED-NII-CURRENT> 441,188
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1,367,504)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1,940,617)
<NET-ASSETS> 100,341,858
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7,747,530
<OTHER-INCOME> 0
<EXPENSES-NET> 880,049
<NET-INVESTMENT-INCOME> 6,867,481
<REALIZED-GAINS-CURRENT> (792,133)
<APPREC-INCREASE-CURRENT> 1,897,240
<NET-CHANGE-FROM-OPS> 7,972,588
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 6,414,367
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,680,371
<NUMBER-OF-SHARES-REDEEMED> 7,629,237
<SHARES-REINVESTED> 788,599
<NET-CHANGE-IN-ASSETS> (30,697,412)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (587,297)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 770,042
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,059,117
<AVERAGE-NET-ASSETS> 109,621,550
<PER-SHARE-NAV-BEGIN> 7.730
<PER-SHARE-NII> 0.490
<PER-SHARE-GAIN-APPREC> 0.080
<PER-SHARE-DIVIDEND> 0.460
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 7.840
<EXPENSE-RATIO> 0.85
</TABLE>
