<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000875186
<NAME> CONSULTING GROUP CAPITAL MARKETS FUNDS
<SERIES>
   <NUMBER> 5
   <NAME> MORTGAGE BACKED INVESTMENTS
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          AUG-31-1996
<PERIOD-END>                               AUG-31-1996
<INVESTMENTS-AT-COST>                      123,120,803
<INVESTMENTS-AT-VALUE>                     119,811,142
<RECEIVABLES>                                1,465,990
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                            31,606
<TOTAL-ASSETS>                             121,308,738
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                            0
<TOTAL-LIABILITIES>                            363,402
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   125,789,011
<SHARES-COMMON-STOCK>                       15,617,018
<SHARES-COMMON-PRIOR>                       13,240,341
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                       (421,759)
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                   (1,112,255)
<ACCUM-APPREC-OR-DEPREC>                   (3,309,661)
<NET-ASSETS>                               120,945,336
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            7,897,592
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 913,743
<NET-INVESTMENT-INCOME>                      6,983,849
<REALIZED-GAINS-CURRENT>                      (26,586)
<APPREC-INCREASE-CURRENT>                  (2,294,645)
<NET-CHANGE-FROM-OPS>                        4,662,618
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    7,405,608
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                     43,928,000
<NUMBER-OF-SHARES-REDEEMED>               (32,112,636)
<SHARES-REINVESTED>                          7,083,593
<NET-CHANGE-IN-ASSETS>                      18,898,957
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                  (1,085,669)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          570,243
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              1,220,303
<AVERAGE-NET-ASSETS>                       114,073,896
<PER-SHARE-NAV-BEGIN>                             7.91
<PER-SHARE-NII>                                   0.48
<PER-SHARE-GAIN-APPREC>                         (0.14)
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                         0.51
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               7.74
<EXPENSE-RATIO>                                  0.801
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>