[ARTICLE] 6
[CIK] 0001000077
[NAME] SMITH BARNEY CONCERT ALLOCATION SERIES
[SERIES]
   [NUMBER] 1
   [NAME] BALANCED PORTFOLIO CLASS Z
<TABLE>
<S>                             <C>
[PERIOD-TYPE]                   YEAR
[FISCAL-YEAR-END]                          JAN-31-1997
[PERIOD-END]                               JAN-31-1997
[INVESTMENTS-AT-COST]                      216,098,495
[INVESTMENTS-AT-VALUE]                     222,442,761
[RECEIVABLES]                                2,315,402
[ASSETS-OTHER]                                     971
[OTHER-ITEMS-ASSETS]                                 0
[TOTAL-ASSETS]                             224,759,134
[PAYABLE-FOR-SECURITIES]                     1,490,751
[SENIOR-LONG-TERM-DEBT]                              0
[OTHER-ITEMS-LIABILITIES]                      442,314
[TOTAL-LIABILITIES]                          1,933,065
[SENIOR-EQUITY]                                      0
[PAID-IN-CAPITAL-COMMON]                   212,315,182
[SHARES-COMMON-STOCK]                              211
[SHARES-COMMON-PRIOR]                                0
[ACCUMULATED-NII-CURRENT]                    4,704,927
[OVERDISTRIBUTION-NII]                        (35,195)
[ACCUMULATED-NET-GAINS]                      4,003,816
[OVERDISTRIBUTION-GAINS]                     4,003,816
[ACCUM-APPREC-OR-DEPREC]                     6,344,266
[NET-ASSETS]                               222,826,069
[DIVIDEND-INCOME]                            5,726,449
[INTEREST-INCOME]                               96,676
[OTHER-INCOME]                                       0
[EXPENSES-NET]                               1,118,198
[NET-INVESTMENT-INCOME]                      4,704,927
[REALIZED-GAINS-CURRENT]                     4,003,816
[APPREC-INCREASE-CURRENT]                    6,344,266
[NET-CHANGE-FROM-OPS]                       15,053,009
[EQUALIZATION]                                       0
[DISTRIBUTIONS-OF-INCOME]                            0
[DISTRIBUTIONS-OF-GAINS]                             0
[DISTRIBUTIONS-OTHER]                                0
[NUMBER-OF-SHARES-SOLD]                            211
[NUMBER-OF-SHARES-REDEEMED]                          0
[SHARES-REINVESTED]                                  0
[NET-CHANGE-IN-ASSETS]                     222,826,069
[ACCUMULATED-NII-PRIOR]                              0
[ACCUMULATED-GAINS-PRIOR]                            0
[OVERDISTRIB-NII-PRIOR]                              0
[OVERDIST-NET-GAINS-PRIOR]                           0
[GROSS-ADVISORY-FEES]                          369,783
[INTEREST-EXPENSE]                                   0
[GROSS-EXPENSE]                              1,118,198
[AVERAGE-NET-ASSETS]                             1,278
[PER-SHARE-NAV-BEGIN]                            12.10
[PER-SHARE-NII]                                      0
[PER-SHARE-GAIN-APPREC]                          00.03
[PER-SHARE-DIVIDEND]                                 0
[PER-SHARE-DISTRIBUTIONS]                            0
[RETURNS-OF-CAPITAL]                                 0
[PER-SHARE-NAV-END]                              12.13
[EXPENSE-RATIO]                                  00.35
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0
</TABLE>