[ARTICLE] 6
[CIK] 0000355747
[NAME] CONCERT PEACHTREE GROWTH FUND
[SERIES]
   [NUMBER] 003
   [NAME] SMITH BARNEY INVESTMENT FUNDS INC. - CLASS B
<TABLE>
<S>                             <C>
[PERIOD-TYPE]                   YEAR
[FISCAL-YEAR-END]                          DEC-31-1999
[PERIOD-END]                               DEC-31-1999
[INVESTMENTS-AT-COST]                      345,543,853
[INVESTMENTS-AT-VALUE]                     477,120,285
[RECEIVABLES]                                  482,091
[ASSETS-OTHER]                              96,912,473
[OTHER-ITEMS-ASSETS]                                 0
[TOTAL-ASSETS]                             544,514,849
[PAYABLE-FOR-SECURITIES]                       180,504
[SENIOR-LONG-TERM-DEBT]                              0
[OTHER-ITEMS-LIABILITIES]                   97,363,268
[TOTAL-LIABILITIES]                         97,543,772
[SENIOR-EQUITY]                                      0
[PAID-IN-CAPITAL-COMMON]                   334,454,031
[SHARES-COMMON-STOCK]                        5,132,920
[SHARES-COMMON-PRIOR]                        3,404,171
[ACCUMULATED-NII-CURRENT]                            0
[OVERDISTRIBUTION-NII]                               0
[ACCUMULATED-NET-GAINS]                     10,940,614
[OVERDISTRIBUTION-GAINS]                             0
[ACCUM-APPREC-OR-DEPREC]                   101,576,432
[NET-ASSETS]                               446,971,077
[DIVIDEND-INCOME]                            2,567,609
[INTEREST-INCOME]                              466,596
[OTHER-INCOME]                                       0
[EXPENSES-NET]                               5,165,545
[NET-INVESTMENT-INCOME]                    (2,131,340)
[REALIZED-GAINS-CURRENT]                    57,223,625
[APPREC-INCREASE-CURRENT]                   20,550,178
[NET-CHANGE-FROM-OPS]                       75,642,463
[EQUALIZATION]                                       0
[DISTRIBUTIONS-OF-INCOME]                            0
[DISTRIBUTIONS-OF-GAINS]                     9,452,104
[DISTRIBUTIONS-OTHER]                                0
[NUMBER-OF-SHARES-SOLD]                      2,044,383
[NUMBER-OF-SHARES-REDEEMED]                    830,572
[SHARES-REINVESTED]                            514,938
[NET-CHANGE-IN-ASSETS]                     113,428,742
[ACCUMULATED-NII-PRIOR]                            920
[ACCUMULATED-GAINS-PRIOR]                    3,021,639
[OVERDISTRIB-NII-PRIOR]                              0
[OVERDIST-NET-GAINS-PRIOR]                           0
[GROSS-ADVISORY-FEES]                        3,598,241
[INTEREST-EXPENSE]                                   0
[GROSS-EXPENSE]                              5,165,545
[AVERAGE-NET-ASSETS]                        73,840,918
[PER-SHARE-NAV-BEGIN]                            17.35
[PER-SHARE-NII]                                 (0.26)
[PER-SHARE-GAIN-APPREC]                           3.50
[PER-SHARE-DIVIDEND]                              0.00
[PER-SHARE-DISTRIBUTIONS]                         2.09
[RETURNS-OF-CAPITAL]                              0.00
[PER-SHARE-NAV-END]                              18.50
[EXPENSE-RATIO]                                   2.24
</TABLE>