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

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000875186
<NAME> Emerging Markets Equity Investments
<SERIES>
   <NUMBER>013
   <NAME>Consulting Group Capital Markets Funds

<S>                             <C>
<PERIOD-TYPE>                  1-year
<FISCAL-YEAR-END>                               Aug-31-2000
<PERIOD-END>                                    Aug-31-2000
<INVESTMENTS-AT-COST>                           277,368,807
<INVESTMENTS-AT-VALUE>                          302,268,591
<RECEIVABLES>                                     3,446,498
<ASSETS-OTHER>                                    4,309,781
<OTHER-ITEMS-ASSETS>                                      0
<TOTAL-ASSETS>                                  310,024,870
<PAYABLE-FOR-SECURITIES>                            887,369
<SENIOR-LONG-TERM-DEBT>                                   0
<OTHER-ITEMS-LIABILITIES>                         4,071,309
<TOTAL-LIABILITIES>                               4,958,678
<SENIOR-EQUITY>                                           0
<PAID-IN-CAPITAL-COMMON>                        367,471,521
<SHARES-COMMON-STOCK>                            41,514,430
<SHARES-COMMON-PRIOR>                            47,119,192
<ACCUMULATED-NII-CURRENT>                          (142,940)
<OVERDISTRIBUTION-NII>                                    0
<ACCUMULATED-NET-GAINS>                         (86,753,871)
<OVERDISTRIBUTION-GAINS>                                  0
<ACCUM-APPREC-OR-DEPREC>                         24,491,482
<NET-ASSETS>                                    305,066,192
<DIVIDEND-INCOME>                                 3,401,836
<INTEREST-INCOME>                                   516,437
<OTHER-INCOME>                                            0
<EXPENSES-NET>                                    4,570,240
<NET-INVESTMENT-INCOME>                            (651,967)
<REALIZED-GAINS-CURRENT>                         46,111,839
<APPREC-INCREASE-CURRENT>                       (29,806,823)
<NET-CHANGE-FROM-OPS>                            15,653,049
<EQUALIZATION>                                            0
<DISTRIBUTIONS-OF-INCOME>                         1,264,598
<DISTRIBUTIONS-OF-GAINS>                                  0
<DISTRIBUTIONS-OTHER>                                     0
<NUMBER-OF-SHARES-SOLD>                         202,690,130
<NUMBER-OF-SHARES-REDEEMED>                     230,891,689
<SHARES-REINVESTED>                               1,253,787
<NET-CHANGE-IN-ASSETS>                          (12,559,321)
<ACCUMULATED-NII-PRIOR>                             620,781
<ACCUMULATED-GAINS-PRIOR>                      (132,690,006)
<OVERDISTRIB-NII-PRIOR>                                   0
<OVERDIST-NET-GAINS-PRIOR>                                0
<GROSS-ADVISORY-FEES>                             3,045,216
<INTEREST-EXPENSE>                                        0
<GROSS-EXPENSE>                                   4,570,240
<AVERAGE-NET-ASSETS>                            276,047,227
<PER-SHARE-NAV-BEGIN>                                 6.740
<PER-SHARE-NII>                                      (0.020)
<PER-SHARE-GAIN-APPREC>                               0.670
<PER-SHARE-DIVIDEND>                                  0.040
<PER-SHARE-DISTRIBUTIONS>                             0.000
<RETURNS-OF-CAPITAL>                                  0.000
<PER-SHARE-NAV-END>                                   7.350
<EXPENSE-RATIO>                                        1.66



</TABLE>