<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000764624
<NAME> SMITH BARNEY PREMIUM TOTAL RETURN FUND, CLASS Y
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               DEC-31-1997
<INVESTMENTS-AT-COST>                    2,991,385,925
<INVESTMENTS-AT-VALUE>                   4,164,418,526
<RECEIVABLES>                               23,956,266
<ASSETS-OTHER>                             551,623,866
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                           4,739,998,658
<PAYABLE-FOR-SECURITIES>                     3,526,174
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                  588,727,052
<TOTAL-LIABILITIES>                        592,253,226
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                 2,901,431,680
<SHARES-COMMON-STOCK>                        2,287,922
<SHARES-COMMON-PRIOR>                        1,387,020
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                     155,395,820
<ACCUMULATED-NET-GAINS>                    191,115,485
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                 1,210,594,087
<NET-ASSETS>                             4,147,745,432
<DIVIDEND-INCOME>                           76,679,657
<INTEREST-INCOME>                           31,517,880
<OTHER-INCOME>                                       0
<EXPENSES-NET>                              53,977,834
<NET-INVESTMENT-INCOME>                     54,219,703
<REALIZED-GAINS-CURRENT>                   246,317,401
<APPREC-INCREASE-CURRENT>                  491,156,780
<NET-CHANGE-FROM-OPS>                      791,693,884
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    2,558,926
<DISTRIBUTIONS-OF-GAINS>                       767,205
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      1,113,070
<NUMBER-OF-SHARES-REDEEMED>                    212,175
<SHARES-REINVESTED>                                  7
<NET-CHANGE-IN-ASSETS>                   1,115,002,824
<ACCUMULATED-NII-PRIOR>                      1,192,859
<ACCUMULATED-GAINS-PRIOR>                    7,300,708
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                       19,865,936
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                             53,977,834
<AVERAGE-NET-ASSETS>                        33,911,796
<PER-SHARE-NAV-BEGIN>                            19.17
<PER-SHARE-NII>                                  00.47
<PER-SHARE-GAIN-APPREC>                          04.29
<PER-SHARE-DIVIDEND>                             00.43
<PER-SHARE-DISTRIBUTIONS>                        01.26
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              22.24
<EXPENSE-RATIO>                                  00.76
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>