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      <registrantType>RMIC</registrantType>
      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <issuerCredentials>
          <cik>0000798290</cik>
          <ccc>XXXXXXXX</ccc>
          <!--Field: Pseudo-Tag; ID: Name; Data:-->
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      </filer>
      <flags>
        <overrideInternetFlag>false</overrideInternetFlag>
        <confirmingCopyFlag>false</confirmingCopyFlag>
      </flags>
      <investmentCompanyType>N-1A</investmentCompanyType>
      <periodOfReport>06/30/2025</periodOfReport>
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          <!--Field: Pseudo-Tag; ID: Series Name; Data: HSBC U.S. Government Money Market Fund-->
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            <!--Field: Pseudo-Tag; ID: Class Name; Data: Intermediary Class-->
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            <!--Field: Pseudo-Tag; ID: Class Name; Data: Class P-->
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        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
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          <!--Field: Pseudo-Tag; ID: Series Name; Data: HSBC U.S. Treasury Money Market Fund-->
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            <!--Field: Pseudo-Tag; ID: Class Name; Data: Y Shares-->
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            <!--Field: Pseudo-Tag; ID: Class Name; Data: Intermediary Class-->
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            <!--Field: Pseudo-Tag; ID: Class Name; Data: Intermediary Service Class-->
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            <!--Field: Pseudo-Tag; ID: Class Name; Data: Class P-->
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    <coverPage>
      <yearOrQuarter>YEAR</yearOrQuarter>
      <reportCalendarYear>2025</reportCalendarYear>
      <reportingPerson>
        <name>HSBC FUNDS</name>
        <phoneNumber>800-782-8183</phoneNumber>
        <address>
          <com:street1>66 Hudson Boulevard E., 4th Floor</com:street1>
          <com:city>NEW YORK</com:city>
          <com:stateOrCountry>NY</com:stateOrCountry>
          <com:zipCode>10001</com:zipCode>
        </address>
      </reportingPerson>
      <agentForService>
        <name>Stefano Michelagnoli</name>
        <address>
          <com:street1>66 Hudson Boulevard E., 4th Floor</com:street1>
          <com:city>New York</com:city>
          <com:stateOrCountry>NY</com:stateOrCountry>
          <com:zipCode>10001</com:zipCode>
        </address>
      </agentForService>
      <reportInfo>
        <reportType>FUND NOTICE REPORT</reportType>
      </reportInfo>
      <fileNumber>811-04782</fileNumber>
      <explanatoryInformation>
        <explanatoryChoice>N</explanatoryChoice>
      </explanatoryInformation>
    </coverPage>
    <seriesPage>
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      <seriesDetails>
        <seriesReports>
          <idOfSeries>S000005047</idOfSeries>
          <nameOfSeries>HSBC U.S. Government Money Market Fund</nameOfSeries>
          <leiOfSeries>213800MK2OTSN7TSAV83</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000005052</idOfSeries>
          <nameOfSeries>HSBC U.S. Treasury Money Market Fund</nameOfSeries>
          <leiOfSeries>213800RE7LTFGSCFQQ20</leiOfSeries>
        </seriesReports>
      </seriesDetails>
    </seriesPage>
    <signaturePage>
      <reportingPerson>HSBC FUNDS</reportingPerson>
      <txSignature>Stefano Michelagnoli</txSignature>
      <txPrintedSignature>Stefano Michelagnoli</txPrintedSignature>
      <txTitle>President</txTitle>
      <txAsOfDate>08/14/2025</txAsOfDate>
    </signaturePage>
  </formData>
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