[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
   [NUMBER] 1
   [NAME] SMITH BARNEY SMALL CAP VALUE FUND. CLASS B
<TABLE>
<S>                             <C>
[PERIOD-TYPE]                   6-MOS
[FISCAL-YEAR-END]                          SEP-30-1999
[PERIOD-END]                               MAR-31-1999
[INVESTMENTS-AT-COST]                      105,281,293
[INVESTMENTS-AT-VALUE]                     107,377,453
[RECEIVABLES]                                3,225,746
[ASSETS-OTHER]                                       0
[OTHER-ITEMS-ASSETS]                                 0
[TOTAL-ASSETS]                             110,603,199
[PAYABLE-FOR-SECURITIES]                     1,785,477
[SENIOR-LONG-TERM-DEBT]                              0
[OTHER-ITEMS-LIABILITIES]                      211,465
[TOTAL-LIABILITIES]                          2,006,942
[SENIOR-EQUITY]                                      0
[PAID-IN-CAPITAL-COMMON]                   107,222,257
[SHARES-COMMON-STOCK]                        3,679,533
[SHARES-COMMON-PRIOR]                                0
[ACCUMULATED-NII-CURRENT]                      383,950
[OVERDISTRIBUTION-NII]                               0
[ACCUMULATED-NET-GAINS]                    (1,078,235)
[OVERDISTRIBUTION-GAINS]                             0
[ACCUM-APPREC-OR-DEPREC]                     2,068,285
[NET-ASSETS]                               108,596,257
[DIVIDEND-INCOME]                              177,164
[INTEREST-INCOME]                              374,511
[OTHER-INCOME]                                       0
[EXPENSES-NET]                                 167,725
[NET-INVESTMENT-INCOME]                        383,950
[REALIZED-GAINS-CURRENT]                   (1,078,235)
[APPREC-INCREASE-CURRENT]                    2,068,285
[NET-CHANGE-FROM-OPS]                        1,374,000
[EQUALIZATION]                                       0
[DISTRIBUTIONS-OF-INCOME]                            0
[DISTRIBUTIONS-OF-GAINS]                             0
[DISTRIBUTIONS-OTHER]                                0
[NUMBER-OF-SHARES-SOLD]                      3,687,971
[NUMBER-OF-SHARES-REDEEMED]                      8,438
[SHARES-REINVESTED]                                  0
[NET-CHANGE-IN-ASSETS]                     108,596,257
[ACCUMULATED-NII-PRIOR]                              0
[ACCUMULATED-GAINS-PRIOR]                            0
[OVERDISTRIB-NII-PRIOR]                              0
[OVERDIST-NET-GAINS-PRIOR]                           0
[GROSS-ADVISORY-FEES]                           70,902
[INTEREST-EXPENSE]                                   0
[GROSS-EXPENSE]                                167,725
[AVERAGE-NET-ASSETS]                        41,344,087
[PER-SHARE-NAV-BEGIN]                            11.40
[PER-SHARE-NII]                                  00.04
[PER-SHARE-GAIN-APPREC]                          00.11
[PER-SHARE-DIVIDEND]                                 0
[PER-SHARE-DISTRIBUTIONS]                            0
[RETURNS-OF-CAPITAL]                                 0
[PER-SHARE-NAV-END]                              11.55
[EXPENSE-RATIO]                                  01.94
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0
</TABLE>