<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000355747
<NAME> SMITH BARNEY INVESTMENT FUNDS INC.
<SERIES>
   <NUMBER> 2
   <NAME> SB GOVERNMENT SECURITIES FUND, CLASS Y
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               DEC-31-1997
<INVESTMENTS-AT-COST>                      555,081,464
<INVESTMENTS-AT-VALUE>                     564,898,629
<RECEIVABLES>                              416,647,519
<ASSETS-OTHER>                                  42,409
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             981,588,357
<PAYABLE-FOR-SECURITIES>                   405,794,201
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    1,177,603
<TOTAL-LIABILITIES>                        406,971,804
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   621,487,927
<SHARES-COMMON-STOCK>                       11,258,233
<SHARES-COMMON-PRIOR>                        4,245,386
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                         874,292
<ACCUMULATED-NET-GAINS>                   (55,814,247)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     9,817,165
<NET-ASSETS>                               574,616,553
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                           38,821,596
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               5,362,375
<NET-INVESTMENT-INCOME>                     33,459,221
<REALIZED-GAINS-CURRENT>                    13,136,258
<APPREC-INCREASE-CURRENT>                   11,264,896
<NET-CHANGE-FROM-OPS>                       57,860,372
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        4,466
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      7,012,847
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                      23,049,895
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                        874,292
<OVERDIST-NET-GAINS-PRIOR>                  55,814,247
<GROSS-ADVISORY-FEES>                        1,901,510
<INTEREST-EXPENSE>                           4,606,360
<GROSS-EXPENSE>                              9,968,735
<AVERAGE-NET-ASSETS>                        64,471,559
<PER-SHARE-NAV-BEGIN>                             9.34
<PER-SHARE-NII>                                   0.61
<PER-SHARE-GAIN-APPREC>                           0.44
<PER-SHARE-DIVIDEND>                              0.63
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.76
<EXPENSE-RATIO>                                   0.58
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>