[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
   [NUMBER] 2
   [NAME] SB GOVERNMENT SECURITIES FUND, CLASS B
<TABLE>
<S>                             <C>
[PERIOD-TYPE]                   YEAR
[FISCAL-YEAR-END]                          DEC-31-1997
[PERIOD-END]                               DEC-31-1997
[INVESTMENTS-AT-COST]                      555,081,464
[INVESTMENTS-AT-VALUE]                     564,898,629
[RECEIVABLES]                              416,647,519
[ASSETS-OTHER]                                  42,409
[OTHER-ITEMS-ASSETS]                                 0
[TOTAL-ASSETS]                             981,588,357
[PAYABLE-FOR-SECURITIES]                   405,794,201
[SENIOR-LONG-TERM-DEBT]                              0
[OTHER-ITEMS-LIABILITIES]                    1,177,603
[TOTAL-LIABILITIES]                        406,971,804
[SENIOR-EQUITY]                                      0
[PAID-IN-CAPITAL-COMMON]                   621,487,927
[SHARES-COMMON-STOCK]                       10,349,123
[SHARES-COMMON-PRIOR]                       12,991,397
[ACCUMULATED-NII-CURRENT]                            0
[OVERDISTRIBUTION-NII]                         874,292
[ACCUMULATED-NET-GAINS]                   (55,814,247)
[OVERDISTRIBUTION-GAINS]                             0
[ACCUM-APPREC-OR-DEPREC]                     9,817,165
[NET-ASSETS]                               574,616,553
[DIVIDEND-INCOME]                                    0
[INTEREST-INCOME]                           38,821,596
[OTHER-INCOME]                                       0
[EXPENSES-NET]                               5,362,375
[NET-INVESTMENT-INCOME]                     33,459,221
[REALIZED-GAINS-CURRENT]                    13,136,258
[APPREC-INCREASE-CURRENT]                   11,264,896
[NET-CHANGE-FROM-OPS]                       57,860,372
[EQUALIZATION]                                       0
[DISTRIBUTIONS-OF-INCOME]                        6,495
[DISTRIBUTIONS-OF-GAINS]                             0
[DISTRIBUTIONS-OTHER]                                0
[NUMBER-OF-SHARES-SOLD]                      1,269,885
[NUMBER-OF-SHARES-REDEEMED]                  4,379,419
[SHARES-REINVESTED]                            467,262
[NET-CHANGE-IN-ASSETS]                      23,049,895
[ACCUMULATED-NII-PRIOR]                              0
[ACCUMULATED-GAINS-PRIOR]                            0
[OVERDISTRIB-NII-PRIOR]                        874,292
[OVERDIST-NET-GAINS-PRIOR]                  55,814,247
[GROSS-ADVISORY-FEES]                        1,901,510
[INTEREST-EXPENSE]                           4,606,360
[GROSS-EXPENSE]                              9,968,735
[AVERAGE-NET-ASSETS]                       108,876,034
[PER-SHARE-NAV-BEGIN]                             9.38
[PER-SHARE-NII]                                   0.54
[PER-SHARE-GAIN-APPREC]                           0.44
[PER-SHARE-DIVIDEND]                              0.57
[PER-SHARE-DISTRIBUTIONS]                            0
[RETURNS-OF-CAPITAL]                                 0
[PER-SHARE-NAV-END]                               9.79
[EXPENSE-RATIO]                                   1.44
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0
</TABLE>