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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 8
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SIGNATURE THOMAS M. REYNOLDS
TITLE CONTROLLER
[ARTICLE] 6
[CIK] 0000887428
[NAME] SMITH BARNEY ADJUSTABLE RATE GOVERNMENT INCOME FUND, CLASS A
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] MAY-31-1998
[PERIOD-END] NOV-30-1997
[INVESTMENTS-AT-COST] 144,337,021
[INVESTMENTS-AT-VALUE] 144,863,795
[RECEIVABLES] 9,137,149
[ASSETS-OTHER] 1,414,790
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 155,415,734
[PAYABLE-FOR-SECURITIES] 8,959,948
[SENIOR-LONG-TERM-DEBT] 30,177,797
[OTHER-ITEMS-LIABILITIES] 0
[TOTAL-LIABILITIES] 39,137,745
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 122,584,999
[SHARES-COMMON-STOCK] 11,191,600
[SHARES-COMMON-PRIOR] 12,578,205
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 18,585
[ACCUMULATED-NET-GAINS] (6,817,244)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 528,819
[NET-ASSETS] 166,277,989
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 4,210,297
[OTHER-INCOME] 0
[EXPENSES-NET] 980,441
[NET-INVESTMENT-INCOME] 3,229,856
[REALIZED-GAINS-CURRENT] (163,308)
[APPREC-INCREASE-CURRENT] 550,300
[NET-CHANGE-FROM-OPS] 386,992
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 3,022,673
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 6,069,699
[NUMBER-OF-SHARES-REDEEMED] 7,693,915
[SHARES-REINVESTED] 237,677
[NET-CHANGE-IN-ASSETS] (13,382,361)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] (6,653,936)
[OVERDISTRIB-NII-PRIOR] 46,196
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 246,456
[INTEREST-EXPENSE] 1,163,590
[GROSS-EXPENSE] 980,441
[AVERAGE-NET-ASSETS] 117,517,010
[PER-SHARE-NAV-BEGIN] 9.84
[PER-SHARE-NII] 0.26
[PER-SHARE-GAIN-APPREC] 0.03
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0.26
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 9.87
[EXPENSE-RATIO] 1.42
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000887428
[NAME] SMITH BARNEY ADJUSTABLE RATE GOVERNMENT INCOME FUND, CLASS B
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] MAY-31-1998
[PERIOD-END] NOV-30-1997
[INVESTMENTS-AT-COST] 144,337,021
[INVESTMENTS-AT-VALUE] 144,863,795
[RECEIVABLES] 9,137,149
[ASSETS-OTHER] 1,414,790
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 155,415,734
[PAYABLE-FOR-SECURITIES] 8,959,948
[SENIOR-LONG-TERM-DEBT] 30,177,797
[OTHER-ITEMS-LIABILITIES] 0
[TOTAL-LIABILITIES] 39,137,745
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 122,584,999
[SHARES-COMMON-STOCK] 288,858
[SHARES-COMMON-PRIOR] 364,689
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 18,585
[ACCUMULATED-NET-GAINS] (6,817,244)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 528,819
[NET-ASSETS] 166,277,989
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 4,210,297
[OTHER-INCOME] 0
[EXPENSES-NET] 980,441
[NET-INVESTMENT-INCOME] 3,229,856
[REALIZED-GAINS-CURRENT] (163,308)
[APPREC-INCREASE-CURRENT] 550,300
[NET-CHANGE-FROM-OPS] 386,992
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 86,641
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 1,451,199
[NUMBER-OF-SHARES-REDEEMED] 1,514,548
[SHARES-REINVESTED] 5,518
[NET-CHANGE-IN-ASSETS] (13,382,361)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] (6,653,936)
[OVERDISTRIB-NII-PRIOR] 46,196
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 246,456
[INTEREST-EXPENSE] 1,163,590
[GROSS-EXPENSE] 980,441
[AVERAGE-NET-ASSETS] 3,322,531
[PER-SHARE-NAV-BEGIN] 9.82
[PER-SHARE-NII] 0.26
[PER-SHARE-GAIN-APPREC] 0.03
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0.25
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 9.86
[EXPENSE-RATIO] 1.44
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000887428
[NAME] SMITH BARNEY ADJUSTABLE RATE GOVERNMENT INCOME FUND, CLASS C
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] MAY-31-1998
[PERIOD-END] NOV-30-1997
[INVESTMENTS-AT-COST] 144,337,021
[INVESTMENTS-AT-VALUE] 144,863,795
[RECEIVABLES] 9,137,149
[ASSETS-OTHER] 1,414,790
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 155,415,734
[PAYABLE-FOR-SECURITIES] 8,959,948
[SENIOR-LONG-TERM-DEBT] 30,177,797
[OTHER-ITEMS-LIABILITIES] 0
[TOTAL-LIABILITIES] 39,137,745
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 122,584,999
[SHARES-COMMON-STOCK] 7,934
[SHARES-COMMON-PRIOR] 7,010
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 18,585
[ACCUMULATED-NET-GAINS] (6,817,244)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 528,819
[NET-ASSETS] 166,277,989
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 4,210,297
[OTHER-INCOME] 0
[EXPENSES-NET] 980,441
[NET-INVESTMENT-INCOME] 3,229,856
[REALIZED-GAINS-CURRENT] (163,308)
[APPREC-INCREASE-CURRENT] 550,300
[NET-CHANGE-FROM-OPS] 386,992
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 1,918
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 809
[NUMBER-OF-SHARES-REDEEMED] 45
[SHARES-REINVESTED] 160
[NET-CHANGE-IN-ASSETS] (13,382,361)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] (6,653,936)
[OVERDISTRIB-NII-PRIOR] 46,196
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 246,456
[INTEREST-EXPENSE] 1,163,590
[GROSS-EXPENSE] 980,441
[AVERAGE-NET-ASSETS] 73,992
[PER-SHARE-NAV-BEGIN] 9.84
[PER-SHARE-NII] 0.26
[PER-SHARE-GAIN-APPREC] 0.03
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0.26
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 9.87
[EXPENSE-RATIO] 1.41
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000887428
[NAME] SMITH BARNEY ADJUSTABLE RATE GOVERNMENT INCOME FUND, CLASS I
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] MAY-31-1998
[PERIOD-END] NOV-30-1997
[INVESTMENTS-AT-COST] 144,337,021
[INVESTMENTS-AT-VALUE] 144,863,795
[RECEIVABLES] 9,137,149
[ASSETS-OTHER] 1,414,790
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 155,415,734
[PAYABLE-FOR-SECURITIES] 8,959,948
[SENIOR-LONG-TERM-DEBT] 30,177,797
[OTHER-ITEMS-LIABILITIES] 0
[TOTAL-LIABILITIES] 39,137,745
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 122,584,999
[SHARES-COMMON-STOCK] 290,092
[SHARES-COMMON-PRIOR] 245,215
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 18,585
[ACCUMULATED-NET-GAINS] (6,817,244)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 528,819
[NET-ASSETS] 166,277,989
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 4,210,297
[OTHER-INCOME] 0
[EXPENSES-NET] 980,441
[NET-INVESTMENT-INCOME] 3,229,856
[REALIZED-GAINS-CURRENT] (163,308)
[APPREC-INCREASE-CURRENT] 550,300
[NET-CHANGE-FROM-OPS] 386,992
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 91,013
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 284,969
[NUMBER-OF-SHARES-REDEEMED] 246,324
[SHARES-REINVESTED] 6,232
[NET-CHANGE-IN-ASSETS] (13,382,361)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] (6,653,936)
[OVERDISTRIB-NII-PRIOR] 46,196
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 246,456
[INTEREST-EXPENSE] 1,163,590
[GROSS-EXPENSE] 980,441
[AVERAGE-NET-ASSETS] 3,254,428
[PER-SHARE-NAV-BEGIN] 9.85
[PER-SHARE-NII] 0.27
[PER-SHARE-GAIN-APPREC] 0.04
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0.28
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 9.88
[EXPENSE-RATIO] 0.90
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
