[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
   [NUMBER] 3
   [NAME] CONCERT PEACHTREE GROWTH FUND, CLASS B
<TABLE>
<S>                             <C>
[PERIOD-TYPE]                   YEAR
[FISCAL-YEAR-END]                          DEC-31-1997
[PERIOD-END]                               DEC-31-1997
[INVESTMENTS-AT-COST]                      220,111,578
[INVESTMENTS-AT-VALUE]                     225,851,950
[RECEIVABLES]                                2,455,626
[ASSETS-OTHER]                                     179
[OTHER-ITEMS-ASSETS]                                 0
[TOTAL-ASSETS]                             228,307,755
[PAYABLE-FOR-SECURITIES]                     2,750,484
[SENIOR-LONG-TERM-DEBT]                              0
[OTHER-ITEMS-LIABILITIES]                      489,759
[TOTAL-LIABILITIES]                          3,240,243
[SENIOR-EQUITY]                                      0
[PAID-IN-CAPITAL-COMMON]                   220,410,437
[SHARES-COMMON-STOCK]                        3,185,557
[SHARES-COMMON-PRIOR]                        3,140,115
[ACCUMULATED-NII-CURRENT]                      898,523
[OVERDISTRIBUTION-NII]                               0
[ACCUMULATED-NET-GAINS]                        184,774
[OVERDISTRIBUTION-GAINS]                             0
[ACCUM-APPREC-OR-DEPREC]                     5,740,372
[NET-ASSETS]                               225,067,512
[DIVIDEND-INCOME]                            1,378,180
[INTEREST-INCOME]                              989,087
[OTHER-INCOME]                                       0
[EXPENSES-NET]                               2,350,260
[NET-INVESTMENT-INCOME]                         17,007
[REALIZED-GAINS-CURRENT]                     7,329,771
[APPREC-INCREASE-CURRENT]                      583,993
[NET-CHANGE-FROM-OPS]                        7,930,771
[EQUALIZATION]                                       0
[DISTRIBUTIONS-OF-INCOME]                            0
[DISTRIBUTIONS-OF-GAINS]                     3,184,763
[DISTRIBUTIONS-OTHER]                                0
[NUMBER-OF-SHARES-SOLD]                        412,467
[NUMBER-OF-SHARES-REDEEMED]                    615,046
[SHARES-REINVESTED]                            248,022
[NET-CHANGE-IN-ASSETS]                     109,565,815
[ACCUMULATED-NII-PRIOR]                              0
[ACCUMULATED-GAINS-PRIOR]                    3,907,187
[OVERDISTRIB-NII-PRIOR]                        144,841
[OVERDIST-NET-GAINS-PRIOR]                           0
[GROSS-ADVISORY-FEES]                        1,262,626
[INTEREST-EXPENSE]                                   0
[GROSS-EXPENSE]                              1,262,626
[AVERAGE-NET-ASSETS]                        42,352,373
[PER-SHARE-NAV-BEGIN]                            13.74
[PER-SHARE-NII]                                  00.07
[PER-SHARE-GAIN-APPREC]                          00.64
[PER-SHARE-DIVIDEND]                                 0
[PER-SHARE-DISTRIBUTIONS]                        01.07
[RETURNS-OF-CAPITAL]                                 0
[PER-SHARE-NAV-END]                              13.24
[EXPENSE-RATIO]                                  02.42
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0
</TABLE>