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>