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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 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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SIGNATURE IRVING DAVID
TITLE CONTROLLER
[ARTICLE] 6
[CIK] 0000943309
[NAME] SMITH BARNEY INSTITUTIONAL CASH MANAGEMENT FUND
[SERIES]
[NUMBER] 1
[NAME] INSTITUTIONAL CASH
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] MAY-31-1998
[PERIOD-END] NOV-30-1997
[INVESTMENTS-AT-COST] 434,835,440
[INVESTMENTS-AT-VALUE] 434,835,440
[RECEIVABLES] 1,885,324
[ASSETS-OTHER] 435,825
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 437,156,589
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 2,601,568
[TOTAL-LIABILITIES] 434,555,021
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 434,555,021
[SHARES-COMMON-STOCK] 434,555,021
[SHARES-COMMON-PRIOR] 216,054,985
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 0
[NET-ASSETS] 434,555,021
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 9,853,662
[OTHER-INCOME] 0
[EXPENSES-NET] 392,461
[NET-INVESTMENT-INCOME] 9,461,201
[REALIZED-GAINS-CURRENT] 0
[APPREC-INCREASE-CURRENT] 0
[NET-CHANGE-FROM-OPS] 9,461,201
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 2,130,723,732
[NUMBER-OF-SHARES-REDEEMED] 1,921,520,166
[SHARES-REINVESTED] 8,295,609
[NET-CHANGE-IN-ASSETS] 218,500,036
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 469,367
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 587,534
[AVERAGE-NET-ASSETS] 346,543,296
[PER-SHARE-NAV-BEGIN] 1.00
[PER-SHARE-NII] .027
[PER-SHARE-GAIN-APPREC] 0
[PER-SHARE-DIVIDEND] (.027)
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 1.00
[EXPENSE-RATIO] .23
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000943309
[NAME] SB INSTITUTIONAL CASH MANAGEMENT FUND
[SERIES]
[NUMBER] 2
[NAME] INSTITUTIONAL CASH B
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] MAY-31-1998
[PERIOD-END] NOV-30-1997
[INVESTMENTS-AT-COST] 434,835,440
[INVESTMENTS-AT-VALUE] 434,835,440
[RECEIVABLES] 1,885,324
[ASSETS-OTHER] 435,825
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 437,156,589
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 2,601,568
[TOTAL-LIABILITIES] 434,555,021
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 434,555,021
[SHARES-COMMON-STOCK] 1,000,861
[SHARES-COMMON-PRIOR] 1
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 0
[NET-ASSETS] 434,555,021
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 9,853,662
[OTHER-INCOME] 0
[EXPENSES-NET] 392,461
[NET-INVESTMENT-INCOME] 9,461,201
[REALIZED-GAINS-CURRENT] 0
[APPREC-INCREASE-CURRENT] 0
[NET-CHANGE-FROM-OPS] 9,461,201
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 21,791
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 1,000,000
[NUMBER-OF-SHARES-REDEEMED] 860
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] 218,500,036
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 469,367
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 587,534
[AVERAGE-NET-ASSETS] 185,925
[PER-SHARE-NAV-BEGIN] 1.00
[PER-SHARE-NII] .005
[PER-SHARE-GAIN-APPREC] 0
[PER-SHARE-DIVIDEND] (.005)
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 1.00
[EXPENSE-RATIO] .47
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000943309
[NAME] SB INSTITUTIONAL CASH MANAGEMENT FUND
[SERIES]
[NUMBER] 3
[NAME] INSTITUTIONAL GOVERNMENT A
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] MAY-31-1998
[PERIOD-END] NOV-30-1997
[INVESTMENTS-AT-COST] 129,227,937
[INVESTMENTS-AT-VALUE] 129,227,937
[RECEIVABLES] 130,286
[ASSETS-OTHER] 575
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 129,358,796
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 653,113
[TOTAL-LIABILITIES] 653,113
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 128,705,683
[SHARES-COMMON-STOCK] 128,705,683
[SHARES-COMMON-PRIOR] 57,679,729
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 0
[NET-ASSETS] 128,705,683
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 3,938,187
[OTHER-INCOME] 0
[EXPENSES-NET] 164,482
[NET-INVESTMENT-INCOME] 3,773,345
[REALIZED-GAINS-CURRENT] 0
[APPREC-INCREASE-CURRENT] 0
[NET-CHANGE-FROM-OPS] 3,733,345
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 3,773,345
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 365,651,698
[NUMBER-OF-SHARES-REDEEMED] 329,479,544
[SHARES-REINVESTED] 3,693,317
[NET-CHANGE-IN-ASSETS] 23,134,529
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 192,241
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 262,786
[AVERAGE-NET-ASSETS] 141,861,198
[PER-SHARE-NAV-BEGIN] 1.00
[PER-SHARE-NII] .026
[PER-SHARE-GAIN-APPREC] 0
[PER-SHARE-DIVIDEND] (.026)
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 1.00
[EXPENSE-RATIO] .23
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000943309
[NAME] SB INSTITUTIONAL CASH MANAGEMENT FUND
[SERIES]
[NUMBER] 4
[NAME] INSTITUTIONAL MUNICIPAL A
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] MAY-31-1998
[PERIOD-END] NOV-30-1998
[INVESTMENTS-AT-COST] 79,375,290
[INVESTMENTS-AT-VALUE] 79,375,290
[RECEIVABLES] 696,025
[ASSETS-OTHER] 13,086
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 80,084,401
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 292,193
[TOTAL-LIABILITIES] 292,193
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 79,792,208
[SHARES-COMMON-STOCK] 79,792,207
[SHARES-COMMON-PRIOR] 23,665,848
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 0
[NET-ASSETS] 79,792,208
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 1,158,499
[OTHER-INCOME] 0
[EXPENSES-NET] 68,891
[NET-INVESTMENT-INCOME] 1,089,608
[REALIZED-GAINS-CURRENT] 290
[APPREC-INCREASE-CURRENT] 0
[NET-CHANGE-FROM-OPS] 1,089,898
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 1,089,898
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 366,297,905
[NUMBER-OF-SHARES-REDEEMED] 311,048,652
[SHARES-REINVESTED] (876,667)
[NET-CHANGE-IN-ASSETS] 56,126,210
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 82,798
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 68,891
[AVERAGE-NET-ASSETS] 61,368,086
[PER-SHARE-NAV-BEGIN] 1.00
[PER-SHARE-NII] .018
[PER-SHARE-GAIN-APPREC] 0
[PER-SHARE-DIVIDEND] (.018)
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 1.00
[EXPENSE-RATIO] .23
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
