<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001000077
<NAME> SMITH BARNEY CONCERT SERIES FUND
<SERIES>
   <NUMBER> 022
   <NAME> CONSERVATIVE PORTFOLIO - CLASS B
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JAN-31-1996
<PERIOD-END>                               MAY-31-1996
<INVESTMENTS-AT-COST>                       32,978,856
<INVESTMENTS-AT-VALUE>                      32,597,478
<RECEIVABLES>                                  181,199
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              32,778,677
<PAYABLE-FOR-SECURITIES>                     1,006,480
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       13,193
<TOTAL-LIABILITIES>                          1,019,673
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    32,028,296
<SHARES-COMMON-STOCK>                        1,262,476
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                      452,823
<OVERDISTRIBUTION-NII>                         112,086
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     (381,378)
<NET-ASSETS>                                31,759,004
<DIVIDEND-INCOME>                              499,847
<INTEREST-INCOME>                               13,029
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  60,053
<NET-INVESTMENT-INCOME>                        452,823
<REALIZED-GAINS-CURRENT>                             0
<APPREC-INCREASE-CURRENT>                    (381,378)
<NET-CHANGE-FROM-OPS>                           71,445
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      151,173
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      1,299,269
<NUMBER-OF-SHARES-REDEEMED>                     49,050
<SHARES-REINVESTED>                             12,257
<NET-CHANGE-IN-ASSETS>                      31,759,004
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                      0
<AVERAGE-NET-ASSETS>                         6,843,233
<PER-SHARE-NAV-BEGIN>                            11.46
<PER-SHARE-NII>                                   0.26
<PER-SHARE-GAIN-APPREC>                         (0.28)
<PER-SHARE-DIVIDEND>                              0.18
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.26
<EXPENSE-RATIO>                                   1.10
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>