WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000887428
<NAME> SMITH BARNEY ADJUSTABLE RATE GOVERNMENT INCOME FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAY-31-2000
<PERIOD-END> MAY-31-2000
<INVESTMENTS-AT-COST> 155,616,757
<INVESTMENTS-AT-VALUE> 154,075,511
<RECEIVABLES> 26,299,972
<ASSETS-OTHER> 202,810
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 180,578,293
<PAYABLE-FOR-SECURITIES> 3,743,390
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 44,412,962
<TOTAL-LIABILITIES> 48,156,352
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 141,037,841
<SHARES-COMMON-STOCK> 411,603
<SHARES-COMMON-PRIOR> 192,004
<ACCUMULATED-NII-CURRENT> (88,672)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (6,870,071)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1,657,157)
<NET-ASSETS> 132,421,941
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 8,781,850
<OTHER-INCOME> 0
<EXPENSES-NET> 2,023,336
<NET-INVESTMENT-INCOME> 6,758,514
<REALIZED-GAINS-CURRENT> 6,845
<APPREC-INCREASE-CURRENT> (1,283,470)
<NET-CHANGE-FROM-OPS> 5,481,889
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 163,131
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 7,603
<NUMBER-OF-SHARES-SOLD> 5,053,040
<NUMBER-OF-SHARES-REDEEMED> 3,083,343
<SHARES-REINVESTED> 152,084
<NET-CHANGE-IN-ASSETS> 7,530,564
<ACCUMULATED-NII-PRIOR> (60,564)
<ACCUMULATED-GAINS-PRIOR> (6,724,283)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 822,791
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,023,336
<AVERAGE-NET-ASSETS> 3,237,708
<PER-SHARE-NAV-BEGIN> 9.74
<PER-SHARE-NII> 0.48
<PER-SHARE-GAIN-APPREC> (0.11)
<PER-SHARE-DIVIDEND> 0.49
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.02
<PER-SHARE-NAV-END> 9.60
<EXPENSE-RATIO> 2.91
</TABLE>
