[ARTICLE] 6
[CIK] 0001000077
[NAME] SMITH BARNEY CONCERT ALLOCATION SERIES
[SERIES]
   [NUMBER] 3
   [NAME] CONSERVATIVE PORTFOLIO CLASS Z
<TABLE>
<S>                             <C>
[PERIOD-TYPE]                   YEAR
[FISCAL-YEAR-END]                          JAN-31-1997
[PERIOD-END]                               JAN-31-1997
[INVESTMENTS-AT-COST]                       62,179,344
[INVESTMENTS-AT-VALUE]                      63,310,028
[RECEIVABLES]                                  950,961
[ASSETS-OTHER]                                       0
[OTHER-ITEMS-ASSETS]                        63,310,154
[TOTAL-ASSETS]                              64,260,715
[PAYABLE-FOR-SECURITIES]                     1,021,888
[SENIOR-LONG-TERM-DEBT]                              0
[OTHER-ITEMS-LIABILITIES]                      333,450
[TOTAL-LIABILITIES]                          1,355,338
[SENIOR-EQUITY]                                      0
[PAID-IN-CAPITAL-COMMON]                    60,774,981
[SHARES-COMMON-STOCK]                               89
[SHARES-COMMON-PRIOR]                                0
[ACCUMULATED-NII-CURRENT]                    1,952,915
[OVERDISTRIBUTION-NII]                               0
[ACCUMULATED-NET-GAINS]                              0
[OVERDISTRIBUTION-GAINS]                             0
[ACCUM-APPREC-OR-DEPREC]                             0
[NET-ASSETS]                                62,905,377
[DIVIDEND-INCOME]                            1,920,695
[INTEREST-INCOME]                               32,220
[OTHER-INCOME]                                       0
[EXPENSES-NET]                                 267,804
[NET-INVESTMENT-INCOME]                      1,685,111
[REALIZED-GAINS-CURRENT]                       948,951
[APPREC-INCREASE-CURRENT]                    1,130,684
[NET-CHANGE-FROM-OPS]                        3,764,746
[EQUALIZATION]                                       0
[DISTRIBUTIONS-OF-INCOME]                            0
[DISTRIBUTIONS-OF-GAINS]                             0
[DISTRIBUTIONS-OTHER]                                0
[NUMBER-OF-SHARES-SOLD]                             89
[NUMBER-OF-SHARES-REDEEMED]                          0
[SHARES-REINVESTED]                                  0
[NET-CHANGE-IN-ASSETS]                      60,774,981
[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]                                267,804
[AVERAGE-NET-ASSETS]                               526
[PER-SHARE-NAV-BEGIN]                            11.89
[PER-SHARE-NII]                                  00.04
[PER-SHARE-GAIN-APPREC]                          00.01
[PER-SHARE-DIVIDEND]                                 0
[PER-SHARE-DISTRIBUTIONS]                        00.37
[RETURNS-OF-CAPITAL]                                 0
[PER-SHARE-NAV-END]                              12.13
[EXPENSE-RATIO]                                  00.35
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0
</TABLE>