<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000355747
<NAME> SMITH BARNEY INVESTMENT FUNDS INC.
<SERIES>
   <NUMBER> 3
   <NAME> CONCERT PEACHTREE GROWTH FUND, CLASS Y
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               JUN-30-1998
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<ASSETS-OTHER>                                       0
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<PAYABLE-FOR-SECURITIES>                             0
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<SHARES-COMMON-STOCK>                        9,923,602
<SHARES-COMMON-PRIOR>                        8,597,965
<ACCUMULATED-NII-CURRENT>                    (546,768)
<OVERDISTRIBUTION-NII>                               0
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<OVERDISTRIBUTION-GAINS>                             0
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<OTHER-INCOME>                                       0
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<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
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<DISTRIBUTIONS-OTHER>                                0
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<NUMBER-OF-SHARES-REDEEMED>                          0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              1,270,470
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<PER-SHARE-NAV-BEGIN>                            13.47
<PER-SHARE-NII>                                  00.01 
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<RETURNS-OF-CAPITAL>                                 0
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<EXPENSE-RATIO>                                  01.07
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>