[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
   [NUMBER] 4
   [NAME] SB MANAGED GROWTH FUND, CLASS Z
<TABLE>
<S>                             <C>
[PERIOD-TYPE]                   YEAR
[FISCAL-YEAR-END]                          DEC-31-1997
[PERIOD-END]                               DEC-31-1997
[INVESTMENTS-AT-COST]                      842,075,303
[INVESTMENTS-AT-VALUE]                     952,699,820
[RECEIVABLES]                               11,076,506
[ASSETS-OTHER]                                  80,029
[OTHER-ITEMS-ASSETS]                        51,703,767
[TOTAL-ASSETS]                           1,015,560,122
[PAYABLE-FOR-SECURITIES]                     1,360,674
[SENIOR-LONG-TERM-DEBT]                              0
[OTHER-ITEMS-LIABILITIES]                   53,567,625
[TOTAL-LIABILITIES]                         54,928,299
[SENIOR-EQUITY]                                      0
[PAID-IN-CAPITAL-COMMON]                   836,773,111
[SHARES-COMMON-STOCK]                        2,076,500
[SHARES-COMMON-PRIOR]                        1,660,003
[ACCUMULATED-NII-CURRENT]                            0
[OVERDISTRIBUTION-NII]                         427,514
[ACCUMULATED-NET-GAINS]                     13,198,025
[OVERDISTRIBUTION-GAINS]                             0
[ACCUM-APPREC-OR-DEPREC]                   111,088,201
[NET-ASSETS]                               960,631,823
[DIVIDEND-INCOME]                            9,389,749
[INTEREST-INCOME]                            8,053,894
[OTHER-INCOME]                                       0
[EXPENSES-NET]                              16,431,807
[NET-INVESTMENT-INCOME]                      1,011,836
[REALIZED-GAINS-CURRENT]                    84,230,909
[APPREC-INCREASE-CURRENT]                   31,194,186
[NET-CHANGE-FROM-OPS]                      116,436,931
[EQUALIZATION]                                       0
[DISTRIBUTIONS-OF-INCOME]                      154,663
[DISTRIBUTIONS-OF-GAINS]                     1,945,273
[DISTRIBUTIONS-OTHER]                                0
[NUMBER-OF-SHARES-SOLD]                        420,890
[NUMBER-OF-SHARES-REDEEMED]                    149,503
[SHARES-REINVESTED]                            145,503
[NET-CHANGE-IN-ASSETS]                     100,896,831
[ACCUMULATED-NII-PRIOR]                        233,268
[ACCUMULATED-GAINS-PRIOR]                            0
[OVERDISTRIB-NII-PRIOR]                              0
[OVERDIST-NET-GAINS-PRIOR]                 (3,700,276)
[GROSS-ADVISORY-FEES]                        8,127,871
[INTEREST-EXPENSE]                                   0
[GROSS-EXPENSE]                             16,431,807
[AVERAGE-NET-ASSETS]                        27,089,854
[PER-SHARE-NAV-BEGIN]                            13.43
[PER-SHARE-NII]                                  00.13
[PER-SHARE-GAIN-APPREC]                          01.79
[PER-SHARE-DIVIDEND]                             00.07
[PER-SHARE-DISTRIBUTIONS]                        01.04
[RETURNS-OF-CAPITAL]                                 0
[PER-SHARE-NAV-END]                              14.24
[EXPENSE-RATIO]                                  00.92
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0
</TABLE>