[ARTICLE] 6
[CIK] 0001000077
[NAME] SMITH BARNEY CONCERT ALLOCATION SERIES INC.
[SERIES]
   [NUMBER] 1
   [NAME] BALANCED PORTFOLIO, CLASS L
<TABLE>
<S>                             <C>
[PERIOD-TYPE]                   6-MOS
[FISCAL-YEAR-END]                          JAN-31-1999
[PERIOD-END]                               JUL-31-1998
[INVESTMENTS-AT-COST]                      468,376,486
[INVESTMENTS-AT-VALUE]                     485,483,165
[RECEIVABLES]                                  219,487
[ASSETS-OTHER]                                       0
[OTHER-ITEMS-ASSETS]                                 0
[TOTAL-ASSETS]                             485,702,652
[PAYABLE-FOR-SECURITIES]                    24,145,292
[SENIOR-LONG-TERM-DEBT]                              0
[OTHER-ITEMS-LIABILITIES]                   11,130,267
[TOTAL-LIABILITIES]                         35,275,559
[SENIOR-EQUITY]                                      0
[PAID-IN-CAPITAL-COMMON]                   429,997,891
[SHARES-COMMON-STOCK]                        2,406,701
[SHARES-COMMON-PRIOR]                        2,178,436
[ACCUMULATED-NII-CURRENT]                      333,466
[OVERDISTRIBUTION-NII]                               0
[ACCUMULATED-NET-GAINS]                      2,989,057
[OVERDISTRIBUTION-GAINS]                             0
[ACCUM-APPREC-OR-DEPREC]                    17,106,679
[NET-ASSETS]                               450,427,093
[DIVIDEND-INCOME]                            8,497,090
[INTEREST-INCOME]                               95,448
[OTHER-INCOME]                                       0
[EXPENSES-NET]                               2,214,404
[NET-INVESTMENT-INCOME]                      6,378,134
[REALIZED-GAINS-CURRENT]                     2,997,724
[APPREC-INCREASE-CURRENT]                    8,812,773
[NET-CHANGE-FROM-OPS]                       18,188,773
[EQUALIZATION]                                       0
[DISTRIBUTIONS-OF-INCOME]                      451,381
[DISTRIBUTIONS-OF-GAINS]                       697,758
[DISTRIBUTIONS-OTHER]                                0
[NUMBER-OF-SHARES-SOLD]                        475,743
[NUMBER-OF-SHARES-REDEEMED]                    277,410
[SHARES-REINVESTED]                             29,932
[NET-CHANGE-IN-ASSETS]                      18,188,773
[ACCUMULATED-NII-PRIOR]                      1,216,914
[ACCUMULATED-GAINS-PRIOR]                   10,257,592
[OVERDISTRIB-NII-PRIOR]                              0
[OVERDIST-NET-GAINS-PRIOR]                           0
[GROSS-ADVISORY-FEES]                          761,623
[INTEREST-EXPENSE]                                   0
[GROSS-EXPENSE]                              2,214,404
[AVERAGE-NET-ASSETS]                        30,035,161
[PER-SHARE-NAV-BEGIN]                            12.61
[PER-SHARE-NII]                                  00.17
[PER-SHARE-GAIN-APPREC]                          00.40
[PER-SHARE-DIVIDEND]                             00.20
[PER-SHARE-DISTRIBUTIONS]                        00.29
[RETURNS-OF-CAPITAL]                                 0
[PER-SHARE-NAV-END]                              12.69
[EXPENSE-RATIO]                                  01.35
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0
</TABLE>