<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001000077
<NAME> SMITH BARNEY CONCERT ALLOCATION SERIES
<SERIES>
   <NUMBER> 3
   <NAME> CONSERVATIVE PORTFOLIO CLASS Z
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          JAN-31-1997
<PERIOD-END>                               JAN-31-1997
<INVESTMENTS-AT-COST>                       62,179,344
<INVESTMENTS-AT-VALUE>                      63,310,028
<RECEIVABLES>                                  950,961
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                        63,310,154
<TOTAL-ASSETS>                              64,260,715
<PAYABLE-FOR-SECURITIES>                     1,021,888
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      333,450
<TOTAL-LIABILITIES>                          1,355,338
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    60,774,981
<SHARES-COMMON-STOCK>                               89
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                    1,952,915
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                62,905,377
<DIVIDEND-INCOME>                            1,920,695
<INTEREST-INCOME>                               32,220
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 267,804
<NET-INVESTMENT-INCOME>                      1,685,111
<REALIZED-GAINS-CURRENT>                       948,951
<APPREC-INCREASE-CURRENT>                    1,130,684
<NET-CHANGE-FROM-OPS>                        3,764,746
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                             89
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                      60,774,981
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                267,804
<AVERAGE-NET-ASSETS>                               526
<PER-SHARE-NAV-BEGIN>                            11.89
<PER-SHARE-NII>                                  00.04
<PER-SHARE-GAIN-APPREC>                          00.01
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                        00.37
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.13
<EXPENSE-RATIO>                                  00.35
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>