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> 4
   <NAME> SMITH BARNEY CONTRARIAN FUND. CLASS Y

<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-END>                               JUN-30-1999
<INVESTMENTS-AT-COST>                      381,555,844
<INVESTMENTS-AT-VALUE>                     444,290,992
<RECEIVABLES>                               56,841,775
<ASSETS-OTHER>                                     937
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             501,133,704
<PAYABLE-FOR-SECURITIES>                             0
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<TOTAL-LIABILITIES>                         56,292,349
<SENIOR-EQUITY>                                      0
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<SHARES-COMMON-STOCK>                        6,548,270
<SHARES-COMMON-PRIOR>                        6,192,821
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<OVERDISTRIBUTION-NII>                               0
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<OTHER-INCOME>                                       0
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<APPREC-INCREASE-CURRENT>                  (7,722,890)
<NET-CHANGE-FROM-OPS>                       49,953,842
<EQUALIZATION>                                       0
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<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        355,449
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                    (79,787,932)
<ACCUMULATED-NII-PRIOR>                        105,339
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<OVERDISTRIB-NII-PRIOR>                              0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              3,870,907
<AVERAGE-NET-ASSETS>                        90,920,410
<PER-SHARE-NAV-BEGIN>                            13.70
<PER-SHARE-NII>                                  00.09
<PER-SHARE-GAIN-APPREC>                          01.61
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<PER-SHARE-DISTRIBUTIONS>                         0.50
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              14.90
<EXPENSE-RATIO>                                  00.93
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0


</TABLE>