[ARTICLE] 6
[CIK] 0000875186
[NAME] CONSULTING GROUP CAPITAL MARKETS FUNDS
[SERIES]
   [NUMBER] 9
   [NAME] SMALL CAPITALIZATION VALUE EQUITY INVESTMENTS
<TABLE>
<S>                             <C>
[PERIOD-TYPE]                   YEAR
[FISCAL-YEAR-END]                          AUG-31-1998
[PERIOD-END]                               AUG-31-1998
[INVESTMENTS-AT-COST]                      880,700,992
[INVESTMENTS-AT-VALUE]                     741,264,841
[RECEIVABLES]                                2,507,181
[ASSETS-OTHER]                                 278,154
[OTHER-ITEMS-ASSETS]                        51,221,121
[TOTAL-ASSETS]                             798,271,297
[PAYABLE-FOR-SECURITIES]                     2,266,309
[SENIOR-LONG-TERM-DEBT]                              0
[OTHER-ITEMS-LIABILITIES]                   55,665,267
[TOTAL-LIABILITIES]                         57,931,576
[SENIOR-EQUITY]                                      0
[PAID-IN-CAPITAL-COMMON]                   756,114,036
[SHARES-COMMON-STOCK]                       66,610,562
[SHARES-COMMON-PRIOR]                       43,074,435
[ACCUMULATED-NII-CURRENT]                    8,628,384
[OVERDISTRIBUTION-NII]                               0
[ACCUMULATED-NET-GAINS]                    116,995,752
[OVERDISTRIBUTION-GAINS]                             0
[ACCUM-APPREC-OR-DEPREC]                 (141,398,451)
[NET-ASSETS]                               740,339,721
[DIVIDEND-INCOME]                           19,434,475
[INTEREST-INCOME]                            1,135,128
[OTHER-INCOME]                                       0
[EXPENSES-NET]                               8,061,863
[NET-INVESTMENT-INCOME]                     12,507,740
[REALIZED-GAINS-CURRENT]                   126,717,993
[APPREC-INCREASE-CURRENT]                (267,653,788)
[NET-CHANGE-FROM-OPS]                    (128,428,055)
[EQUALIZATION]                                       0
[DISTRIBUTIONS-OF-INCOME]                    7,959,256
[DISTRIBUTIONS-OF-GAINS]                    92,050,884
[DISTRIBUTIONS-OTHER]                                0
[NUMBER-OF-SHARES-SOLD]                     34,807,977
[NUMBER-OF-SHARES-REDEEMED]                 18,387,418
[SHARES-REINVESTED]                          7,115,568
[NET-CHANGE-IN-ASSETS]                     117,967,725
[ACCUMULATED-NII-PRIOR]                      4,079,900
[ACCUMULATED-GAINS-PRIOR]                   82,328,643
[OVERDISTRIB-NII-PRIOR]                              0
[OVERDIST-NET-GAINS-PRIOR]                           0
[GROSS-ADVISORY-FEES]                        4,705,182
[INTEREST-EXPENSE]                                   0
[GROSS-EXPENSE]                              8,061,863
[AVERAGE-NET-ASSETS]                       861,205,335
[PER-SHARE-NAV-BEGIN]                            14.45
[PER-SHARE-NII]                                  00.17
[PER-SHARE-GAIN-APPREC]                        (01.66)
[PER-SHARE-DIVIDEND]                             00.13
[PER-SHARE-DISTRIBUTIONS]                        01.72
[RETURNS-OF-CAPITAL]                                 0
[PER-SHARE-NAV-END]                              11.11
[EXPENSE-RATIO]                                  00.94
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0
</TABLE>