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> 2
   <NAME> INCOME PORTFOLIO CLASS A
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          JAN-31-1997
<PERIOD-END>                               JAN-31-1997
<INVESTMENTS-AT-COST>                       37,751,136
<INVESTMENTS-AT-VALUE>                      38,129,554
<RECEIVABLES>                                  685,654
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                        37,570,457
<TOTAL-ASSETS>                              38,256,111
<PAYABLE-FOR-SECURITIES>                       459,884
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       65,764
<TOTAL-LIABILITIES>                            525,640
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    36,915,806
<SHARES-COMMON-STOCK>                        1,545,691
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                    1,372,727
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                37,730,463
<DIVIDEND-INCOME>                            1,356,405
<INTEREST-INCOME>                               16,322
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 172,845
<NET-INVESTMENT-INCOME>                      1,199,882
<REALIZED-GAINS-CURRENT>                       378,418
<APPREC-INCREASE-CURRENT>                      378,418
<NET-CHANGE-FROM-OPS>                        2,019,934
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      564,732
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      1,693,882
<NUMBER-OF-SHARES-REDEEMED>                    187,425
<SHARES-REINVESTED>                             39,234
<NET-CHANGE-IN-ASSETS>                      36,915,806
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                172,845
<AVERAGE-NET-ASSETS>                         8,987,415
<PER-SHARE-NAV-BEGIN>                            11.46
<PER-SHARE-NII>                                  00.63
<PER-SHARE-GAIN-APPREC>                          00.07
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                        00.63
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.53
<EXPENSE-RATIO>                                  00.60
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>