[ARTICLE] 6
[CIK] 0000887428
[NAME] SMITH BARNEY ADJUSTABLE RATE GOVERNMENT INCOME FUND. CLASS B
<TABLE>
<S>                             <C>
[PERIOD-TYPE]                   6-MOS
[FISCAL-YEAR-END]                          MAY-31-1997
[PERIOD-END]                               NOV-30-1996
[INVESTMENTS-AT-COST]                      174,223,905
[INVESTMENTS-AT-VALUE]                     175,575,511
[RECEIVABLES]                               31,051,908
[ASSETS-OTHER]                                  15,793
[OTHER-ITEMS-ASSETS]                                 0
[TOTAL-ASSETS]                             206,643,212
[PAYABLE-FOR-SECURITIES]                     7,042,833
[SENIOR-LONG-TERM-DEBT]                              0
[OTHER-ITEMS-LIABILITIES]                   54,429,174
[TOTAL-LIABILITIES]                         61,472,007
[SENIOR-EQUITY]                                      0
[PAID-IN-CAPITAL-COMMON]                             0
[SHARES-COMMON-STOCK]                                0
[SHARES-COMMON-PRIOR]                                0
[ACCUMULATED-NII-CURRENT]                    2,853,921
[OVERDISTRIBUTION-NII]                     (3,951,029)
[ACCUMULATED-NET-GAINS]                    (7,158,476)
[OVERDISTRIBUTION-GAINS]                             0
[ACCUM-APPREC-OR-DEPREC]                     1,313,461
[NET-ASSETS]                               145,171,205
[DIVIDEND-INCOME]                                    0
[INTEREST-INCOME]                            4,113,116
[OTHER-INCOME]                                       0
[EXPENSES-NET]                               1,179,284
[NET-INVESTMENT-INCOME]                      2,933,832
[REALIZED-GAINS-CURRENT]                      (91,488)
[APPREC-INCREASE-CURRENT]                    1,651,610
[NET-CHANGE-FROM-OPS]                        4,493,954
[EQUALIZATION]                                       0
[DISTRIBUTIONS-OF-INCOME]                      150,716
[DISTRIBUTIONS-OF-GAINS]                             0
[DISTRIBUTIONS-OTHER]                                0
[NUMBER-OF-SHARES-SOLD]                      3,039,556
[NUMBER-OF-SHARES-REDEEMED]                  3,155,872
[SHARES-REINVESTED]                              9,173
[NET-CHANGE-IN-ASSETS]                    (16,196,650)
[ACCUMULATED-NII-PRIOR]                      9,851,103
[ACCUMULATED-GAINS-PRIOR]                  (7,066,988)
[OVERDISTRIB-NII-PRIOR]                    (9,931,014)
[OVERDIST-NET-GAINS-PRIOR]                           0
[GROSS-ADVISORY-FEES]                          301,547
[INTEREST-EXPENSE]                                   0
[GROSS-EXPENSE]                              1,179,284
[AVERAGE-NET-ASSETS]                             6,812
[PER-SHARE-NAV-BEGIN]                             9.84
[PER-SHARE-NII]                                   0.20
[PER-SHARE-GAIN-APPREC]                           0.09
[PER-SHARE-DIVIDEND]                                 0
[PER-SHARE-DISTRIBUTIONS]                         0.27
[RETURNS-OF-CAPITAL]                                 0
[PER-SHARE-NAV-END]                               9.86
[EXPENSE-RATIO]                                   1.60
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0
</TABLE>