WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000355747
<NAME> SMITH BARNEY INVESTMENT FUNDS INC.
<SERIES>
   <NUMBER> 2
   <NAME> SMITH BARNEY GOVERNMENT SECURITIES FUND. CLASS L

<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-END>                               JUN-30-1999
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<INVESTMENTS-AT-VALUE>                     694,985,568
<RECEIVABLES>                              289,353,537
<ASSETS-OTHER>                                       0
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<TOTAL-ASSETS>                             984,339,105
<PAYABLE-FOR-SECURITIES>                   301,001,268
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    6,967,992
<TOTAL-LIABILITIES>                        307,969,260
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   751,869,024
<SHARES-COMMON-STOCK>                          702,427
<SHARES-COMMON-PRIOR>                          442,458
<ACCUMULATED-NII-CURRENT>                    (774,230)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                   (58,512,122)
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<DIVIDEND-INCOME>                                    0
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<OTHER-INCOME>                                       0
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<REALIZED-GAINS-CURRENT>                  (25,597,341)
<APPREC-INCREASE-CURRENT>                 (19,188,899)
<NET-CHANGE-FROM-OPS>                     (27,241,672)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      145,462
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        430,768
<NUMBER-OF-SHARES-REDEEMED>                    181,440
<SHARES-REINVESTED>                             10,641
<NET-CHANGE-IN-ASSETS>                      41,001,824
<ACCUMULATED-NII-PRIOR>                        (2,303)
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<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                        1,907,861
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              2,989,776
<AVERAGE-NET-ASSETS>                         6,056,933
<PER-SHARE-NAV-BEGIN>                             9.97
<PER-SHARE-NII>                                   0.22
<PER-SHARE-GAIN-APPREC>                         (0.62)
<PER-SHARE-DIVIDEND>                              0.23
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.34
<EXPENSE-RATIO>                                   1.40
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0


</TABLE>