[ARTICLE] 6
[CIK] 0000875186
[NAME] CONSULTING GROUP CAPITAL MARKETS FUNDS
[SERIES]
   [NUMBER] 4
   [NAME] MUNICIPAL BOND INVESTMENTS FUND
<TABLE>
<S>                             <C>
[PERIOD-TYPE]                   6-MOS
[FISCAL-YEAR-END]                          AUG-31-1998
[PERIOD-END]                               FEB-28-1998
[INVESTMENTS-AT-COST]                       66,177,786
[INVESTMENTS-AT-VALUE]                      68,568,713
[RECEIVABLES]                                1,236,770
[ASSETS-OTHER]                                  27,751
[OTHER-ITEMS-ASSETS]                                 0
[TOTAL-ASSETS]                              69,833,234
[PAYABLE-FOR-SECURITIES]                     2,977,977
[SENIOR-LONG-TERM-DEBT]                              0
[OTHER-ITEMS-LIABILITIES]                      411,337
[TOTAL-LIABILITIES]                          3,389,314
[SENIOR-EQUITY]                                      0
[PAID-IN-CAPITAL-COMMON]                    65,770,835
[SHARES-COMMON-STOCK]                        7,520,493
[SHARES-COMMON-PRIOR]                        6,033,727
[ACCUMULATED-NII-CURRENT]                       42,730
[OVERDISTRIBUTION-NII]                               0
[ACCUMULATED-NET-GAINS]                    (1,760,572)
[OVERDISTRIBUTION-GAINS]                             0
[ACCUM-APPREC-OR-DEPREC]                     2,390,927
[NET-ASSETS]                                66,443,920
[DIVIDEND-INCOME]                                    0
[INTEREST-INCOME]                            1,463,503
[OTHER-INCOME]                                       0
[EXPENSES-NET]                                 229,606
[NET-INVESTMENT-INCOME]                      1,233,897
[REALIZED-GAINS-CURRENT]                       194,655
[APPREC-INCREASE-CURRENT]                    1,212,109
[NET-CHANGE-FROM-OPS]                        2,640,661
[EQUALIZATION]                                       0
[DISTRIBUTIONS-OF-INCOME]                    1,297,715
[DISTRIBUTIONS-OF-GAINS]                             0
[DISTRIBUTIONS-OTHER]                                0
[NUMBER-OF-SHARES-SOLD]                      2,445,100
[NUMBER-OF-SHARES-REDEEMED]                  1,073,377
[SHARES-REINVESTED]                            115,043
[NET-CHANGE-IN-ASSETS]                      14,420,076
[ACCUMULATED-NII-PRIOR]                        106,548
[ACCUMULATED-GAINS-PRIOR]                  (1,955,227)
[OVERDISTRIB-NII-PRIOR]                              0
[OVERDIST-NET-GAINS-PRIOR]                           0
[GROSS-ADVISORY-FEES]                          172,205
[INTEREST-EXPENSE]                                   0
[GROSS-EXPENSE]                                229,606
[AVERAGE-NET-ASSETS]                        58,279,480
[PER-SHARE-NAV-BEGIN]                             8.62
[PER-SHARE-NII]                                   0.18
[PER-SHARE-GAIN-APPREC]                           0.23
[PER-SHARE-DIVIDEND]                              0.19
[PER-SHARE-DISTRIBUTIONS]                            0
[RETURNS-OF-CAPITAL]                                 0
[PER-SHARE-NAV-END]                               8.84
[EXPENSE-RATIO]                                   0.80
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0
</TABLE>