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

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000875186
<NAME> International Fixed Income Investments
<SERIES>
   <NUMBER>012
   <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>                           233,836,572
<INVESTMENTS-AT-VALUE>                          221,244,231
<RECEIVABLES>                                    14,597,949
<ASSETS-OTHER>                                   40,092,332
<OTHER-ITEMS-ASSETS>                                      0
<TOTAL-ASSETS>                                  275,934,512
<PAYABLE-FOR-SECURITIES>                          3,320,333
<SENIOR-LONG-TERM-DEBT>                                   0
<OTHER-ITEMS-LIABILITIES>                        37,048,172
<TOTAL-LIABILITIES>                              40,368,505
<SENIOR-EQUITY>                                           0
<PAID-IN-CAPITAL-COMMON>                        264,659,056
<SHARES-COMMON-STOCK>                            32,541,148
<SHARES-COMMON-PRIOR>                            29,159,675
<ACCUMULATED-NII-CURRENT>                        (9,433,934)
<OVERDISTRIBUTION-NII>                                    0
<ACCUMULATED-NET-GAINS>                          (6,562,203)
<OVERDISTRIBUTION-GAINS>                                  0
<ACCUM-APPREC-OR-DEPREC>                        (13,096,912)
<NET-ASSETS>                                    235,566,007
<DIVIDEND-INCOME>                                         0
<INTEREST-INCOME>                                13,812,433
<OTHER-INCOME>                                            0
<EXPENSES-NET>                                    2,384,477
<NET-INVESTMENT-INCOME>                          11,427,956
<REALIZED-GAINS-CURRENT>                        (17,710,212)
<APPREC-INCREASE-CURRENT>                        (9,313,918)
<NET-CHANGE-FROM-OPS>                           (15,596,174)
<EQUALIZATION>                                            0
<DISTRIBUTIONS-OF-INCOME>                         1,966,695
<DISTRIBUTIONS-OF-GAINS>                                  0
<DISTRIBUTIONS-OTHER>                             9,890,447
<NUMBER-OF-SHARES-SOLD>                          11,789,951
<NUMBER-OF-SHARES-REDEEMED>                       9,908,083
<SHARES-REINVESTED>                               1,499,605
<NET-CHANGE-IN-ASSETS>                             (687,747)
<ACCUMULATED-NII-PRIOR>                          (7,747,186)
<ACCUMULATED-GAINS-PRIOR>                                 0
<OVERDISTRIB-NII-PRIOR>                                   0
<OVERDIST-NET-GAINS-PRIOR>                                0
<GROSS-ADVISORY-FEES>                             1,704,977
<INTEREST-EXPENSE>                                        0
<GROSS-EXPENSE>                                   2,384,477
<AVERAGE-NET-ASSETS>                            242,899,060
<PER-SHARE-NAV-BEGIN>                                 8.100
<PER-SHARE-NII>                                       0.360
<PER-SHARE-GAIN-APPREC>                              (0.840)
<PER-SHARE-DIVIDEND>                                  0.060
<PER-SHARE-DISTRIBUTIONS>                             0.000
<RETURNS-OF-CAPITAL>                                  0.320
<PER-SHARE-NAV-END>                                   7.240
<EXPENSE-RATIO>                                        0.98



</TABLE>