[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
   [NUMBER] 4
   [NAME] MANAGED GROWTH FUND CLASS Z
<TABLE>
<S>                             <C>
[PERIOD-TYPE]                   YEAR
[FISCAL-YEAR-END]                          DEC-31-1996
[PERIOD-END]                               DEC-31-1996
[INVESTMENTS-AT-COST]                      777,376,363
[INVESTMENTS-AT-VALUE]                     857,270,378
[RECEIVABLES]                                3,639,470
[ASSETS-OTHER]                                 273,169
[OTHER-ITEMS-ASSETS]                                21
[TOTAL-ASSETS]                             861,183,038
[PAYABLE-FOR-SECURITIES]                       137,698
[SENIOR-LONG-TERM-DEBT]                              0
[OTHER-ITEMS-LIABILITIES]                    1,310,348
[TOTAL-LIABILITIES]                          1,448,046
[SENIOR-EQUITY]                                      0
[PAID-IN-CAPITAL-COMMON]                   783,307,985
[SHARES-COMMON-STOCK]                        1,660,003
[SHARES-COMMON-PRIOR]                          834,527
[ACCUMULATED-NII-CURRENT]                      233,368
[OVERDISTRIBUTION-NII]                               0
[ACCUMULATED-NET-GAINS]                    (3,700,276)
[OVERDISTRIBUTION-GAINS]                             0
[ACCUM-APPREC-OR-DEPREC]                    79,894,015
[NET-ASSETS]                               859,734,992
[DIVIDEND-INCOME]                            8,962,487
[INTEREST-INCOME]                            5,975,218
[OTHER-INCOME]                                       0
[EXPENSES-NET]                              12,333,980
[NET-INVESTMENT-INCOME]                      2,523,667
[REALIZED-GAINS-CURRENT]                    35,218,574
[APPREC-INCREASE-CURRENT]                   66,836,563
[NET-CHANGE-FROM-OPS]                      104,578,804
[EQUALIZATION]                                       0
[DISTRIBUTIONS-OF-INCOME]                      211,504
[DISTRIBUTIONS-OF-GAINS]                       722,721
[DISTRIBUTIONS-OTHER]                                0
[NUMBER-OF-SHARES-SOLD]                        790,471
[NUMBER-OF-SHARES-REDEEMED]                     36,475
[SHARES-REINVESTED]                             71,480
[NET-CHANGE-IN-ASSETS]                     272,404,922
[ACCUMULATED-NII-PRIOR]                      5,290,575
[ACCUMULATED-GAINS-PRIOR]                 (10,963,695)
[OVERDISTRIB-NII-PRIOR]                              0
[OVERDIST-NET-GAINS-PRIOR]                           0
[GROSS-ADVISORY-FEES]                        6,034,652
[INTEREST-EXPENSE]                                   0
[GROSS-EXPENSE]                             12,333,980
[AVERAGE-NET-ASSETS]                        16,660,173
[PER-SHARE-NAV-BEGIN]                            12.03
[PER-SHARE-NII]                                  00.14
[PER-SHARE-GAIN-APPREC]                          01.85
[PER-SHARE-DIVIDEND]                             00.13
[PER-SHARE-DISTRIBUTIONS]                        00.46
[RETURNS-OF-CAPITAL]                                 0
[PER-SHARE-NAV-END]                              13.43
[EXPENSE-RATIO]                                  00.97
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0
</TABLE>