[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
   [NUMBER] 2
   [NAME] HANSBERGER GLOBAL SMALL CAP VALUE FUND. CLASS B
<TABLE>
<S>                             <C>
[PERIOD-TYPE]                   6-MOS
[FISCAL-YEAR-END]                          APR-30-1999
[PERIOD-END]                               OCT-31-1998
[INVESTMENTS-AT-COST]                       23,477,984
[INVESTMENTS-AT-VALUE]                      19,027,605
[RECEIVABLES]                                  238,422
[ASSETS-OTHER]                                       0
[OTHER-ITEMS-ASSETS]                            57,618
[TOTAL-ASSETS]                              19,323,645
[PAYABLE-FOR-SECURITIES]                             0
[SENIOR-LONG-TERM-DEBT]                              0
[OTHER-ITEMS-LIABILITIES]                       78,181
[TOTAL-LIABILITIES]                             78,181
[SENIOR-EQUITY]                                      0
[PAID-IN-CAPITAL-COMMON]                    24,086,550
[SHARES-COMMON-STOCK]                          943,538
[SHARES-COMMON-PRIOR]                                0
[ACCUMULATED-NII-CURRENT]                      254,158
[OVERDISTRIBUTION-NII]                               0
[ACCUMULATED-NET-GAINS]                              0
[OVERDISTRIBUTION-GAINS]                       646,537
[ACCUM-APPREC-OR-DEPREC]                   (4,448,707)
[NET-ASSETS]                                19,245,464
[DIVIDEND-INCOME]                              214,849
[INTEREST-INCOME]                               41,227
[OTHER-INCOME]                                       0
[EXPENSES-NET]                                 247,897
[NET-INVESTMENT-INCOME]                        108,179
[REALIZED-GAINS-CURRENT]                     (663,187)
[APPREC-INCREASE-CURRENT]                  (6,014,322)
[NET-CHANGE-FROM-OPS]                      (6,569,330)
[EQUALIZATION]                                       0
[DISTRIBUTIONS-OF-INCOME]                            0
[DISTRIBUTIONS-OF-GAINS]                             0
[DISTRIBUTIONS-OTHER]                                0
[NUMBER-OF-SHARES-SOLD]                        114,609
[NUMBER-OF-SHARES-REDEEMED]                    111,788
[SHARES-REINVESTED]                                  0
[NET-CHANGE-IN-ASSETS]                     (4,572,738)
[ACCUMULATED-NII-PRIOR]                              0
[ACCUMULATED-GAINS-PRIOR]                            0
[OVERDISTRIB-NII-PRIOR]                              0
[OVERDIST-NET-GAINS-PRIOR]                           0
[GROSS-ADVISORY-FEES]                          114,531
[INTEREST-EXPENSE]                                   0
[GROSS-EXPENSE]                                390,197
[AVERAGE-NET-ASSETS]                        10,127,621
[PER-SHARE-NAV-BEGIN]                            12.34
[PER-SHARE-NII]                                  00.02
[PER-SHARE-GAIN-APPREC]                         (3.15)
[PER-SHARE-DIVIDEND]                                 0
[PER-SHARE-DISTRIBUTIONS]                            0
[RETURNS-OF-CAPITAL]                                 0
[PER-SHARE-NAV-END]                              09.21
[EXPENSE-RATIO]                                  02.60
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0
</TABLE>