WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000355747
<NAME> CONTRARIAN FUND - CLASS L
<SERIES>
   <NUMBER> 004
   <NAME> SMITH BARNEY INVESTMENT FUNDS INC.

<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-END>                               DEC-31-1999
<INVESTMENTS-AT-COST>                      280,391,076
<INVESTMENTS-AT-VALUE>                     284,157,924
<RECEIVABLES>                               69,050,523
<ASSETS-OTHER>                                     877
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             35,320,9324
<PAYABLE-FOR-SECURITIES>                         8,090
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                   68,493,020
<TOTAL-LIABILITIES>                         68,501,110
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   263,025,188
<SHARES-COMMON-STOCK>                        1,276,022
<SHARES-COMMON-PRIOR>                        2,476,781
<ACCUMULATED-NII-CURRENT>                      223,189
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                     17,692,989
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     3,766,848
<NET-ASSETS>                               284,708,214
<DIVIDEND-INCOME>                            8,465,172
<INTEREST-INCOME>                              442,978
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               6,542,912
<NET-INVESTMENT-INCOME>                      2,365,238
<REALIZED-GAINS-CURRENT>                    44,461,397
<APPREC-INCREASE-CURRENT>                 (66,691,190)
<NET-CHANGE-FROM-OPS>                     (19,864,555)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       40,161
<DISTRIBUTIONS-OF-GAINS>                     2,206,687
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         58,978
<NUMBER-OF-SHARES-REDEEMED>                  1,440,155
<SHARES-REINVESTED>                            180,418
<NET-CHANGE-IN-ASSETS>                   (239,921,073)
<ACCUMULATED-NII-PRIOR>                        105,339
<ACCUMULATED-GAINS-PRIOR>                   14,827,377
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                        3,442,248
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              6,542,912
<AVERAGE-NET-ASSETS>                        23,139,365
<PER-SHARE-NAV-BEGIN>                            13.42
<PER-SHARE-NII>                                   0.03
<PER-SHARE-GAIN-APPREC>                         (0.75)
<PER-SHARE-DIVIDEND>                              0.03
<PER-SHARE-DISTRIBUTIONS>                         1.52
<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                              11.15
<EXPENSE-RATIO>                                   1.97


</TABLE>