[ARTICLE] 6
[CIK] 0000887428
[NAME] SMITH BARNEY ADJUSTABLE RATE GOVERNMENT INCOME FUND. CLASS I
<TABLE>
<S>                             <C>
[PERIOD-TYPE]                   YEAR
[FISCAL-YEAR-END]                          MAY-31-1998
[PERIOD-END]                               MAY-31-1998
[INVESTMENTS-AT-COST]                      137,434,975
[INVESTMENTS-AT-VALUE]                     137,947,220
[RECEIVABLES]                                6,027,641
[ASSETS-OTHER]                                       0
[OTHER-ITEMS-ASSETS]                                 0
[TOTAL-ASSETS]                             143,974,861
[PAYABLE-FOR-SECURITIES]                             0
[SENIOR-LONG-TERM-DEBT]                              0
[OTHER-ITEMS-LIABILITIES]                   31,247,725
[TOTAL-LIABILITIES]                         31,247,725
[SENIOR-EQUITY]                                      0
[PAID-IN-CAPITAL-COMMON]                   119,057,377
[SHARES-COMMON-STOCK]                          296,653
[SHARES-COMMON-PRIOR]                          245,215
[ACCUMULATED-NII-CURRENT]                            0
[OVERDISTRIBUTION-NII]                        (80,229)
[ACCUMULATED-NET-GAINS]                    (6,780,026)
[OVERDISTRIBUTION-GAINS]                             0
[ACCUM-APPREC-OR-DEPREC]                       530,014
[NET-ASSETS]                               112,727,136
[DIVIDEND-INCOME]                                    0
[INTEREST-INCOME]                            7,689,440
[OTHER-INCOME]                                       0
[EXPENSES-NET]                               1,841,428
[NET-INVESTMENT-INCOME]                      5,848,012
[REALIZED-GAINS-CURRENT]                        20,674
[APPREC-INCREASE-CURRENT]                      551,495
[NET-CHANGE-FROM-OPS]                        6,420,181
[EQUALIZATION]                                       0
[DISTRIBUTIONS-OF-INCOME]                      158,102
[DISTRIBUTIONS-OF-GAINS]                             0
[DISTRIBUTIONS-OTHER]                            3,032
[NUMBER-OF-SHARES-SOLD]                        501,868
[NUMBER-OF-SHARES-REDEEMED]                    465,215
[SHARES-REINVESTED]                             14,785
[NET-CHANGE-IN-ASSETS]                    (16,933,214)
[ACCUMULATED-NII-PRIOR]                              0
[ACCUMULATED-GAINS-PRIOR]                  (6,653,936)
[OVERDISTRIB-NII-PRIOR]                       (46,196)
[OVERDIST-NET-GAINS-PRIOR]                           0
[GROSS-ADVISORY-FEES]                          472,169
[INTEREST-EXPENSE]                           2,085,603
[GROSS-EXPENSE]                              1,841,428
[AVERAGE-NET-ASSETS]                         3,076,732
[PER-SHARE-NAV-BEGIN]                             9.85 
[PER-SHARE-NII]                                   0.55
[PER-SHARE-GAIN-APPREC]                           0.04
[PER-SHARE-DIVIDEND]                              0.56
[PER-SHARE-DISTRIBUTIONS]                            0
[RETURNS-OF-CAPITAL]                              0.01
[PER-SHARE-NAV-END]                               9.87
[EXPENSE-RATIO]                                   1.07
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0
</TABLE>