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

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001000077
<NAME> Income Portfolio
<SERIES>
   <NUMBER>002
   <NAME>Smith Barney Allocation Series

<S>                             <C>
<PERIOD-TYPE>                  6-MOS
<FISCAL-YEAR-END>                               Jan-31-2001
<PERIOD-END>                                    Jul-31-2000
<INVESTMENTS-AT-COST>                            60,586,532
<INVESTMENTS-AT-VALUE>                           56,036,106
<RECEIVABLES>                                        21,565
<ASSETS-OTHER>                                            0
<OTHER-ITEMS-ASSETS>                                      0
<TOTAL-ASSETS>                                   56,057,671
<PAYABLE-FOR-SECURITIES>                                  0
<SENIOR-LONG-TERM-DEBT>                                   0
<OTHER-ITEMS-LIABILITIES>                           215,306
<TOTAL-LIABILITIES>                                 215,306
<SENIOR-EQUITY>                                           0
<PAID-IN-CAPITAL-COMMON>                         60,893,214
<SHARES-COMMON-STOCK>                             2,611,191
<SHARES-COMMON-PRIOR>                             3,017,575
<ACCUMULATED-NII-CURRENT>                           295,915
<OVERDISTRIBUTION-NII>                                    0
<ACCUMULATED-NET-GAINS>                            (796,338)
<OVERDISTRIBUTION-GAINS>                                  0
<ACCUM-APPREC-OR-DEPREC>                         (4,550,426)
<NET-ASSETS>                                     55,842,365
<DIVIDEND-INCOME>                                 2,100,046
<INTEREST-INCOME>                                        74
<OTHER-INCOME>                                            0
<EXPENSES-NET>                                      250,454
<NET-INVESTMENT-INCOME>                           1,849,666
<REALIZED-GAINS-CURRENT>                           (673,374)
<APPREC-INCREASE-CURRENT>                           795,485
<NET-CHANGE-FROM-OPS>                             1,971,777
<EQUALIZATION>                                            0
<DISTRIBUTIONS-OF-INCOME>                           835,418
<DISTRIBUTIONS-OF-GAINS>                             45,072
<DISTRIBUTIONS-OTHER>                                     0
<NUMBER-OF-SHARES-SOLD>                             153,253
<NUMBER-OF-SHARES-REDEEMED>                         638,289
<SHARES-REINVESTED>                                  78,652
<NET-CHANGE-IN-ASSETS>                           (8,268,205)
<ACCUMULATED-NII-PRIOR>                              43,298
<ACCUMULATED-GAINS-PRIOR>                           (32,735)
<OVERDISTRIB-NII-PRIOR>                                   0
<OVERDIST-NET-GAINS-PRIOR>                                0
<GROSS-ADVISORY-FEES>                                     0
<INTEREST-EXPENSE>                                        0
<GROSS-EXPENSE>                                     250,454
<AVERAGE-NET-ASSETS>                             29,524,048
<PER-SHARE-NAV-BEGIN>                                10.640
<PER-SHARE-NII>                                       0.350
<PER-SHARE-GAIN-APPREC>                               0.020
<PER-SHARE-DIVIDEND>                                  0.310
<PER-SHARE-DISTRIBUTIONS>                             0.020
<RETURNS-OF-CAPITAL>                                  0.000
<PER-SHARE-NAV-END>                                  10.680
<EXPENSE-RATIO>                                        0.60



</TABLE>