[ARTICLE] 6
[CIK] 0000875186
[NAME] CONSULTING GROUP CAPITAL MARKETS FUNDS
[SERIES]
   [NUMBER] 10
   [NAME] SMALL CAPITALIZATION GROWTH INVESTMENTS
<TABLE>
<S>                             <C>
[PERIOD-TYPE]                   YEAR
[FISCAL-YEAR-END]                          AUG-31-1998
[PERIOD-END]                               AUG-31-1998
[INVESTMENTS-AT-COST]                    1,065,180,136
[INVESTMENTS-AT-VALUE]                     848,807,547
[RECEIVABLES]                               14,996,382
[ASSETS-OTHER]                                   1,355
[OTHER-ITEMS-ASSETS]                       163,916,165
[TOTAL-ASSETS]                           1,027,721,449
[PAYABLE-FOR-SECURITIES]                       322,134
[SENIOR-LONG-TERM-DEBT]                              0
[OTHER-ITEMS-LIABILITIES]                  168,743,089
[TOTAL-LIABILITIES]                        169,065,223
[SENIOR-EQUITY]                                      0
[PAID-IN-CAPITAL-COMMON]                 1,051,384,935
[SHARES-COMMON-STOCK]                       66,913,275
[SHARES-COMMON-PRIOR]                       42,505,689
[ACCUMULATED-NII-CURRENT]                            0
[OVERDISTRIBUTION-NII]                       4,516,922
[ACCUMULATED-NET-GAINS]                     29,305,602
[OVERDISTRIBUTION-GAINS]                             0
[ACCUM-APPREC-OR-DEPREC]                 (215,517,389)
[NET-ASSETS]                               858,656,226
[DIVIDEND-INCOME]                            3,393,924
[INTEREST-INCOME]                            2,839,040
[OTHER-INCOME]                                       0
[EXPENSES-NET]                              10,831,657
[NET-INVESTMENT-INCOME]                    (4,598,693)
[REALIZED-GAINS-CURRENT]                    63,217,819
[APPREC-INCREASE-CURRENT]                (355,139,504)
[NET-CHANGE-FROM-OPS]                    (296,520,378)
[EQUALIZATION]                                       0
[DISTRIBUTIONS-OF-INCOME]                            0
[DISTRIBUTIONS-OF-GAINS]                    63,933,403
[DISTRIBUTIONS-OTHER]                                0
[NUMBER-OF-SHARES-SOLD]                     48,873,021
[NUMBER-OF-SHARES-REDEEMED]                 28,168,884
[SHARES-REINVESTED]                          3,703,449
[NET-CHANGE-IN-ASSETS]                      81,335,086
[ACCUMULATED-NII-PRIOR]                         81,771
[ACCUMULATED-GAINS-PRIOR]                   20,021,186
[OVERDISTRIB-NII-PRIOR]                              0
[OVERDIST-NET-GAINS-PRIOR]                           0
[GROSS-ADVISORY-FEES]                        6,308,016
[INTEREST-EXPENSE]                                   0
[GROSS-EXPENSE]                             10,831,657
[AVERAGE-NET-ASSETS]                     1,102,719,707
[PER-SHARE-NAV-BEGIN]                            18.29
[PER-SHARE-NII]                                 (0.07)
[PER-SHARE-GAIN-APPREC]                         (4.23)
[PER-SHARE-DIVIDEND]                                 0
[PER-SHARE-DISTRIBUTIONS]                        01.16
[RETURNS-OF-CAPITAL]                                 0
[PER-SHARE-NAV-END]                              12.83
[EXPENSE-RATIO]                                  01.01
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0
</TABLE>