WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001000077
<NAME> SMITH BARNEY CONCERT ALLOCATION SERIES
<SERIES>
   <NUMBER> 1
   <NAME> BALANCED PORTFOLIO CLASS B
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          JAN-31-1997
<PERIOD-END>                               JAN-31-1997
<INVESTMENTS-AT-COST>                      216,098,495
<INVESTMENTS-AT-VALUE>                     222,442,761
<RECEIVABLES>                                2,315,402
<ASSETS-OTHER>                                     971
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             224,759,134
<PAYABLE-FOR-SECURITIES>                     1,490,751
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      442,314
<TOTAL-LIABILITIES>                          1,933,065
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   212,315,182
<SHARES-COMMON-STOCK>                        9,220,667
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                    4,704,927
<OVERDISTRIBUTION-NII>                        (35,195)
<ACCUMULATED-NET-GAINS>                      4,003,816
<OVERDISTRIBUTION-GAINS>                     4,003,816
<ACCUM-APPREC-OR-DEPREC>                     6,344,266
<NET-ASSETS>                               222,826,069
<DIVIDEND-INCOME>                            5,726,449
<INTEREST-INCOME>                               96,676
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               1,118,198
<NET-INVESTMENT-INCOME>                      4,704,927
<REALIZED-GAINS-CURRENT>                     4,003,816
<APPREC-INCREASE-CURRENT>                    6,344,266
<NET-CHANGE-FROM-OPS>                       15,053,009
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    2,224,021
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      9,437,519
<NUMBER-OF-SHARES-REDEEMED>                    397,658
<SHARES-REINVESTED>                            180,806
<NET-CHANGE-IN-ASSETS>                     222,826,069
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          369,783
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              1,118,198
<AVERAGE-NET-ASSETS>                        55,179,984
<PER-SHARE-NAV-BEGIN>                            11.40
<PER-SHARE-NII>                                  00.37
<PER-SHARE-GAIN-APPREC>                          00.74
<PER-SHARE-DIVIDEND>                             00.37
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.14
<EXPENSE-RATIO>                                  01.35
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>