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

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000875186
<NAME> Small Capitalization Value Equity Investments
<SERIES>
   <NUMBER>009
   <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>                           888,049,850
<INVESTMENTS-AT-VALUE>                          848,095,428
<RECEIVABLES>                                     6,544,110
<ASSETS-OTHER>                                   36,549,034
<OTHER-ITEMS-ASSETS>                                      0
<TOTAL-ASSETS>                                  891,188,572
<PAYABLE-FOR-SECURITIES>                          1,149,394
<SENIOR-LONG-TERM-DEBT>                                   0
<OTHER-ITEMS-LIABILITIES>                        37,682,908
<TOTAL-LIABILITIES>                              38,832,302
<SENIOR-EQUITY>                                           0
<PAID-IN-CAPITAL-COMMON>                        882,980,536
<SHARES-COMMON-STOCK>                            79,504,025
<SHARES-COMMON-PRIOR>                            70,483,108
<ACCUMULATED-NII-CURRENT>                        10,953,868
<OVERDISTRIBUTION-NII>                                    0
<ACCUMULATED-NET-GAINS>                          (1,995,437)
<OVERDISTRIBUTION-GAINS>                                  0
<ACCUM-APPREC-OR-DEPREC>                        (39,582,697)
<NET-ASSETS>                                    852,356,270
<DIVIDEND-INCOME>                                21,279,420
<INTEREST-INCOME>                                 1,549,196
<OTHER-INCOME>                                            0
<EXPENSES-NET>                                    6,839,274
<NET-INVESTMENT-INCOME>                          15,989,342
<REALIZED-GAINS-CURRENT>                            895,402
<APPREC-INCREASE-CURRENT>                        27,487,027
<NET-CHANGE-FROM-OPS>                            44,371,771
<EQUALIZATION>                                            0
<DISTRIBUTIONS-OF-INCOME>                        11,434,061
<DISTRIBUTIONS-OF-GAINS>                         13,216,365
<DISTRIBUTIONS-OTHER>                                     0
<NUMBER-OF-SHARES-SOLD>                          39,831,689
<NUMBER-OF-SHARES-REDEEMED>                      33,310,074
<SHARES-REINVESTED>                               2,499,302
<NET-CHANGE-IN-ASSETS>                          108,392,173
<ACCUMULATED-NII-PRIOR>                           7,701,051
<ACCUMULATED-GAINS-PRIOR>                         9,023,062
<OVERDISTRIB-NII-PRIOR>                                   0
<OVERDIST-NET-GAINS-PRIOR>                                0
<GROSS-ADVISORY-FEES>                             5,712,274
<INTEREST-EXPENSE>                                        0
<GROSS-EXPENSE>                                   6,839,274
<AVERAGE-NET-ASSETS>                            755,711,535
<PER-SHARE-NAV-BEGIN>                                10.560
<PER-SHARE-NII>                                       0.200
<PER-SHARE-GAIN-APPREC>                               0.300
<PER-SHARE-DIVIDEND>                                  0.160
<PER-SHARE-DISTRIBUTIONS>                             0.180
<RETURNS-OF-CAPITAL>                                  0.000
<PER-SHARE-NAV-END>                                  10.720
<EXPENSE-RATIO>                                        0.91



</TABLE>