[ARTICLE] 6
[CIK] 0000764624
[NAME] SMITH BARNEY PREMIUM TOTAL RETURN FUND, CLASS Y
<TABLE>
<S>                             <C>
[PERIOD-TYPE]                   YEAR
[FISCAL-YEAR-END]                          DEC-31-1997
[PERIOD-END]                               DEC-31-1997
[INVESTMENTS-AT-COST]                    2,991,385,925
[INVESTMENTS-AT-VALUE]                   4,164,418,526
[RECEIVABLES]                               23,956,266
[ASSETS-OTHER]                             551,623,866
[OTHER-ITEMS-ASSETS]                                 0
[TOTAL-ASSETS]                           4,739,998,658
[PAYABLE-FOR-SECURITIES]                     3,526,174
[SENIOR-LONG-TERM-DEBT]                              0
[OTHER-ITEMS-LIABILITIES]                  588,727,052
[TOTAL-LIABILITIES]                        592,253,226
[SENIOR-EQUITY]                                      0
[PAID-IN-CAPITAL-COMMON]                 2,901,431,680
[SHARES-COMMON-STOCK]                        2,287,922
[SHARES-COMMON-PRIOR]                        1,387,020
[ACCUMULATED-NII-CURRENT]                            0
[OVERDISTRIBUTION-NII]                     155,395,820
[ACCUMULATED-NET-GAINS]                    191,115,485
[OVERDISTRIBUTION-GAINS]                             0
[ACCUM-APPREC-OR-DEPREC]                 1,210,594,087
[NET-ASSETS]                             4,147,745,432
[DIVIDEND-INCOME]                           76,679,657
[INTEREST-INCOME]                           31,517,880
[OTHER-INCOME]                                       0
[EXPENSES-NET]                              53,977,834
[NET-INVESTMENT-INCOME]                     54,219,703
[REALIZED-GAINS-CURRENT]                   246,317,401
[APPREC-INCREASE-CURRENT]                  491,156,780
[NET-CHANGE-FROM-OPS]                      791,693,884
[EQUALIZATION]                                       0
[DISTRIBUTIONS-OF-INCOME]                    2,558,926
[DISTRIBUTIONS-OF-GAINS]                       767,205
[DISTRIBUTIONS-OTHER]                                0
[NUMBER-OF-SHARES-SOLD]                      1,113,070
[NUMBER-OF-SHARES-REDEEMED]                    212,175
[SHARES-REINVESTED]                                  7
[NET-CHANGE-IN-ASSETS]                   1,115,002,824
[ACCUMULATED-NII-PRIOR]                      1,192,859
[ACCUMULATED-GAINS-PRIOR]                    7,300,708
[OVERDISTRIB-NII-PRIOR]                              0
[OVERDIST-NET-GAINS-PRIOR]                           0
[GROSS-ADVISORY-FEES]                       19,865,936
[INTEREST-EXPENSE]                                   0
[GROSS-EXPENSE]                             53,977,834
[AVERAGE-NET-ASSETS]                        33,911,796
[PER-SHARE-NAV-BEGIN]                            19.17
[PER-SHARE-NII]                                  00.47
[PER-SHARE-GAIN-APPREC]                          04.29
[PER-SHARE-DIVIDEND]                             00.43
[PER-SHARE-DISTRIBUTIONS]                        01.26
[RETURNS-OF-CAPITAL]                                 0
[PER-SHARE-NAV-END]                              22.24
[EXPENSE-RATIO]                                  00.76
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0
</TABLE>