[ARTICLE] 6
[CIK] 0000355747                            
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
   [NUMBER] 4
   [NAME] MANAGED GROWTH PORTFOLIO. CLASS Z
<TABLE>
<S>                             <C>
[PERIOD-TYPE]                   6-MOS
[FISCAL-YEAR-END]                          DEC-31-1997
[PERIOD-END]                               JUN-30-1997
[INVESTMENTS-AT-COST]                      854,799,161
[INVESTMENTS-AT-VALUE]                     968,906,109
[RECEIVABLES]                                1,761,612
[ASSETS-OTHER]                                 265,037
[OTHER-ITEMS-ASSETS]                        25,644,273
[TOTAL-ASSETS]                             996,577,031
[PAYABLE-FOR-SECURITIES]                             0
[SENIOR-LONG-TERM-DEBT]                              0
[OTHER-ITEMS-LIABILITIES]                   28,131,321
[TOTAL-LIABILITIES]                         28,131,321
[SENIOR-EQUITY]                                      0
[PAID-IN-CAPITAL-COMMON]                   805,845,382
[SHARES-COMMON-STOCK]                        1,860,594
[SHARES-COMMON-PRIOR]                        1,660,003
[ACCUMULATED-NII-CURRENT]                      585,467
[OVERDISTRIBUTION-NII]                               0
[ACCUMULATED-NET-GAINS]                     48,177,192
[OVERDISTRIBUTION-GAINS]                             0
[ACCUM-APPREC-OR-DEPREC]                   133,837,669
[NET-ASSETS]                               968,445,710
[DIVIDEND-INCOME]                            4,811,987
[INTEREST-INCOME]                            3,281,762
[OTHER-INCOME]                                       0
[EXPENSES-NET]                               7,741,550
[NET-INVESTMENT-INCOME]                        352,199
[REALIZED-GAINS-CURRENT]                    51,877,468
[APPREC-INCREASE-CURRENT]                   33,943,654
[NET-CHANGE-FROM-OPS]                       86,173,321
[EQUALIZATION]                                       0
[DISTRIBUTIONS-OF-INCOME]                            0
[DISTRIBUTIONS-OF-GAINS]                             0
[DISTRIBUTIONS-OTHER]                                0
[NUMBER-OF-SHARES-SOLD]                        287,160
[NUMBER-OF-SHARES-REDEEMED]                     86,569
[SHARES-REINVESTED]                                  0
[NET-CHANGE-IN-ASSETS]                     108,710,718
[ACCUMULATED-NII-PRIOR]                        233,268
[ACCUMULATED-GAINS-PRIOR]                            0
[OVERDISTRIB-NII-PRIOR]                              0
[OVERDIST-NET-GAINS-PRIOR]                 (3,700,276)
[GROSS-ADVISORY-FEES]                        3,788,849
[INTEREST-EXPENSE]                                   0
[GROSS-EXPENSE]                              7,741,550
[AVERAGE-NET-ASSETS]                        25,033,929
[PER-SHARE-NAV-BEGIN]                            13.43
[PER-SHARE-NII]                                  00.06
[PER-SHARE-GAIN-APPREC]                          01.31
[PER-SHARE-DIVIDEND]                                 0
[PER-SHARE-DISTRIBUTIONS]                            0
[RETURNS-OF-CAPITAL]                                 0
[PER-SHARE-NAV-END]                              14.80
[EXPENSE-RATIO]                                  00.96
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0
</TABLE>