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

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000355747
<NAME> SMITH BARNEY INVESTMENT FUNDS INC.
<SERIES>
   <NUMBER> 1
   <NAME> SMITH BARNEY SMALL CAP VALUE FUND - CLASS B

<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          SEP-30-2000
<PERIOD-END>                               MAR-31-2000
<INVESTMENTS-AT-COST>                      116,799,054
<INVESTMENTS-AT-VALUE>                     129,069,222
<RECEIVABLES>                                  364,180
<ASSETS-OTHER>                                     641
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             129,434,043
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      221,459
<TOTAL-LIABILITIES>                            221,459
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   116,653,645
<SHARES-COMMON-STOCK>                        4,446,352
<SHARES-COMMON-PRIOR>                        5,032,160
<ACCUMULATED-NII-CURRENT>                      233,500
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                         55,271
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                    12,270,168
<NET-ASSETS>                               129,212,584
<DIVIDEND-INCOME>                            1,494,999
<INTEREST-INCOME>                              216,718
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               1,221,308
<NET-INVESTMENT-INCOME>                        490,409
<REALIZED-GAINS-CURRENT>                     (322,516)
<APPREC-INCREASE-CURRENT>                    9,134,995
<NET-CHANGE-FROM-OPS>                        9,302,888
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      558,606
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        429,210
<NUMBER-OF-SHARES-REDEEMED>                  1,060,160
<SHARES-REINVESTED>                             45,142
<NET-CHANGE-IN-ASSETS>                    (11,927,486)
<ACCUMULATED-NII-PRIOR>                      1,242,590
<ACCUMULATED-GAINS-PRIOR>                      377,787
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          497,259
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              1,221,308
<AVERAGE-NET-ASSETS>                        57,677,051
<PER-SHARE-NAV-BEGIN>                            12.05
<PER-SHARE-NII>                                   0.03
<PER-SHARE-GAIN-APPREC>                           0.91
<PER-SHARE-DIVIDEND>                              0.12
<PER-SHARE-DISTRIBUTIONS>                         0.00
<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                              12.87
<EXPENSE-RATIO>                                   2.03


</TABLE>