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        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>Y</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>HSBC Global Asset Management (USA) Inc.</investmentAdviserName>
            <investmentAdviserFileNo>801-25999</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105686</investmentAdviserCrdNo>
            <investmentAdviserLei>213800MB7UGCSL5S3P42</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <subAdvisers>
          <subAdviser>
            <subAdviserName>HSBC Global Asset Management (Hong Kong) Limited</subAdviserName>
            <subAdviserFileNo>801-29922</subAdviserFileNo>
            <subAdviserCrdNo>000105193</subAdviserCrdNo>
            <subAdviserLei>213800ICI7E9NI46L160</subAdviserLei>
            <isSubAdviserAffiliated>Y</isSubAdviserAffiliated>
            <subAdviserCountry>HK</subAdviserCountry>
            <isSubAdviserHired>N</isSubAdviserHired>
          </subAdviser>
        </subAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>DST Asset Manager Solutions, Inc.</transferAgentName>
            <transferAgentFileNo>084-00896</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Intercontinental Exchange</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-GA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>PricingDirect</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Thomson Reuters</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Investment Technology Group</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Northern Trust Company</custodianName>
            <custodianLei>6PTKHDJ8HDUF78PFWH30</custodianLei>
            <custodianStateCountry custodianState="US-IL" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>HSBC Bank USA, N.A.</shareholderServiceAgentName>
            <shareholderServiceAgentLei>1IE8VN30JCEQV1H4R804</shareholderServiceAgentLei>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-NY" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>Y</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>HSBC Global Asset Management (USA) Inc.</adminName>
            <adminLei>213800MB7UGCSL5S3P42</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokers>
          <broker>
            <brokerName>MORGAN STANLEY</brokerName>
            <brokerFileNo>008-15869</brokerFileNo>
            <brokerCrdNo>000008209</brokerCrdNo>
            <brokerLei>9R7GPTSO7KV3UQJZQ078</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>26873.19000000</grossCommission>
          </broker>
          <broker>
            <brokerName>CLSA LTD.</brokerName>
            <brokerFileNo>008-69166</brokerFileNo>
            <brokerCrdNo>000165533</brokerCrdNo>
            <brokerLei>213800M2DXATWY7JMS07</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>53193.91000000</grossCommission>
          </broker>
          <broker>
            <brokerName>J.P Morgan Securities</brokerName>
            <brokerFileNo>008-36950</brokerFileNo>
            <brokerCrdNo>000018718</brokerCrdNo>
            <brokerLei>K6Q0W1PS1L1O4IQL9C32</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>11126.86000000</grossCommission>
          </broker>
          <broker>
            <brokerName>INVESTMENT TECHNOLOGY GROUP</brokerName>
            <brokerFileNo>N/A</brokerFileNo>
            <brokerCrdNo>N/A</brokerCrdNo>
            <brokerLei>N/A</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>11451.44000000</grossCommission>
          </broker>
          <broker>
            <brokerName>CREDIT SUISSE</brokerName>
            <brokerFileNo>N/A</brokerFileNo>
            <brokerCrdNo>N/A</brokerCrdNo>
            <brokerLei>N/A</brokerLei>
            <brokerCountry>CH</brokerCountry>
            <grossCommission>41606.45000000</grossCommission>
          </broker>
          <broker>
            <brokerName>UBS</brokerName>
            <brokerFileNo>N/A</brokerFileNo>
            <brokerCrdNo>N/A</brokerCrdNo>
            <brokerLei>549300SZJ9VS8SGXAN81</brokerLei>
            <brokerCountry>CH</brokerCountry>
            <grossCommission>23427.90000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BANK OF AMERICA</brokerName>
            <brokerFileNo>N/A</brokerFileNo>
            <brokerCrdNo>000112613</brokerCrdNo>
            <brokerLei>EYKN6V0ZCB8VD9IULB80</brokerLei>
            <brokerStateCountry brokerState="US-NC" brokerCountry="US"/>
            <grossCommission>23057.35000000</grossCommission>
          </broker>
          <broker>
            <brokerName>LIQUIDNET</brokerName>
            <brokerFileNo>008-52461</brokerFileNo>
            <brokerCrdNo>000103987</brokerCrdNo>
            <brokerLei>213800HSKBBO1GCVRG79</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>13250.33000000</grossCommission>
          </broker>
          <broker>
            <brokerName>MACQUARIE SECURITIES LTD</brokerName>
            <brokerFileNo>008-47198</brokerFileNo>
            <brokerCrdNo>000036368</brokerCrdNo>
            <brokerLei>549300670K07JRB5UQ40</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>7313.34000000</grossCommission>
          </broker>
          <broker>
            <brokerName>CITIGROUP</brokerName>
            <brokerFileNo>008-08177</brokerFileNo>
            <brokerCrdNo>000007059</brokerCrdNo>
            <brokerLei>MBNUM2BPBDO7JBLYG310</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>36448.27000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>294156.74</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>WELLS FARGO</principalName>
            <principalFileNo>008-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>1069465.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>TD SECURITIES</principalName>
            <principalFileNo>008-36747</principalFileNo>
            <principalCrdNo>000018476</principalCrdNo>
            <principalLei>SUVUFHICNZMP2WKHG940</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>3008879.09000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>UBS</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>549300SZJ9VS8SGXAN81</principalLei>
            <principalCountry>CH</principalCountry>
            <principalTotalPurchaseSale>2998155.22000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>224767920.36</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>53174615.07000000</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>HSBC Global High Income Bond Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000048474</mgmtInvSeriesId>
        <mgmtInvLei>549300F1MBZXRV6C2J23</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>2</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000152924" sharesOutstandingTickerSymbol="HBIAX"/>
          <sharesOutstanding sharesOutstandingClassName="Class I" sharesOutstandingClassId="C000152925" sharesOutstandingTickerSymbol="HBIIX"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>N</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>Y</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>HSBC Global Asset Management (USA) Inc.</investmentAdviserName>
            <investmentAdviserFileNo>801-25999</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105686</investmentAdviserCrdNo>
            <investmentAdviserLei>213800MB7UGCSL5S3P42</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <subAdvisers>
          <subAdviser>
            <subAdviserName>HSBC Global Asset Management (UK) Limited</subAdviserName>
            <subAdviserFileNo>801-71863</subAdviserFileNo>
            <subAdviserCrdNo>000154700</subAdviserCrdNo>
            <subAdviserLei>213800L6ERIFAN15KI98</subAdviserLei>
            <isSubAdviserAffiliated>Y</isSubAdviserAffiliated>
            <subAdviserCountry>GB</subAdviserCountry>
            <isSubAdviserHired>N</isSubAdviserHired>
          </subAdviser>
        </subAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>DST Asset Manager Solutions, Inc.</transferAgentName>
            <transferAgentFileNo>084-00896</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Intercontinental Exchange</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-GA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>PricingDirect</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Thomson Reuters</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Super Derivatives</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-GA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>WM/Reuters</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Northern Trust Company</custodianName>
            <custodianLei>6PTKHDJ8HDUF78PFWH30</custodianLei>
            <custodianStateCountry custodianState="US-IL" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>HSBC Bank USA, N.A.</shareholderServiceAgentName>
            <shareholderServiceAgentLei>1IE8VN30JCEQV1H4R804</shareholderServiceAgentLei>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-NY" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>Y</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>HSBC Global Asset Management (USA) Inc.</adminName>
            <adminLei>213800MB7UGCSL5S3P42</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokers>
          <broker>
            <brokerName>J.P Morgan Securities</brokerName>
            <brokerFileNo>008-36950</brokerFileNo>
            <brokerCrdNo>000018718</brokerCrdNo>
            <brokerLei>K6Q0W1PS1L1O4IQL9C32</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>92.00000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BARCLAYS</brokerName>
            <brokerFileNo>N/A</brokerFileNo>
            <brokerCrdNo>000018395</brokerCrdNo>
            <brokerLei>213800UYYZZYQPRT9B51</brokerLei>
            <brokerCountry>GB</brokerCountry>
            <grossCommission>49.65000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>141.65000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>MARKETAXESS</principalName>
            <principalFileNo>008-50727</principalFileNo>
            <principalCrdNo>000044542</principalCrdNo>
            <principalLei>GPSMMRI21JE7ZCVYF972</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1275277.59000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>GOLDMAN SACHS</principalName>
            <principalFileNo>008-00129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>549300CWUTEDC3CFJ739</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1811468.82000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P Morgan Securities</principalName>
            <principalFileNo>008-36950</principalFileNo>
            <principalCrdNo>000018718</principalCrdNo>
            <principalLei>K6Q0W1PS1L1O4IQL9C32</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2078398.73000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>CREDIT SUISSE</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>N/A</principalLei>
            <principalCountry>CH</principalCountry>
            <principalTotalPurchaseSale>1365564.96000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>MORGAN STANLEY</principalName>
            <principalFileNo>008-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1094949.52000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>000018395</principalCrdNo>
            <principalLei>213800UYYZZYQPRT9B51</principalLei>
            <principalCountry>GB</principalCountry>
            <principalTotalPurchaseSale>1918942.62000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>JEFFERIES</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>000002347</principalCrdNo>
            <principalLei>58PU97L1C0WSRCWADL48</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1223590.52000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>DEUTSCHE BANK</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>529900BXKPMXQTRE1V05</principalLei>
            <principalCountry>CH</principalCountry>
            <principalTotalPurchaseSale>1234839.20000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BANK OF AMERICA</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>000112613</principalCrdNo>
            <principalLei>EYKN6V0ZCB8VD9IULB80</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>3263045.90000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>CITIGROUP</principalName>
            <principalFileNo>008-08177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2182524.93000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>50354683.3</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>27664700.53000000</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>HSBC Global High Yield Bond Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000048475</mgmtInvSeriesId>
        <mgmtInvLei>549300CT2XISJ4YF7Z47</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>2</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class I" sharesOutstandingClassId="C000152927" sharesOutstandingTickerSymbol="HBYIX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000152926" sharesOutstandingTickerSymbol="HBYAX"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>N</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>Y</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>HSBC Global Asset Management (USA) Inc.</investmentAdviserName>
            <investmentAdviserFileNo>801-25999</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105686</investmentAdviserCrdNo>
            <investmentAdviserLei>213800MB7UGCSL5S3P42</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <subAdvisers>
          <subAdviser>
            <subAdviserName>HSBC Global Asset Management (France)</subAdviserName>
            <subAdviserFileNo>801-72605</subAdviserFileNo>
            <subAdviserCrdNo>000158519</subAdviserCrdNo>
            <subAdviserLei>W85O53OGKSNJNYNJES25</subAdviserLei>
            <isSubAdviserAffiliated>Y</isSubAdviserAffiliated>
            <subAdviserCountry>FR</subAdviserCountry>
            <isSubAdviserHired>N</isSubAdviserHired>
          </subAdviser>
        </subAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>DST Asset Manager Solutions, Inc.</transferAgentName>
            <transferAgentFileNo>084-00896</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Intercontinental Exchange</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-GA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>PricingDirect</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Thomson Reuters</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Super Derivatives</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-GA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>WM/Reuters</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Northern Trust Company</custodianName>
            <custodianLei>6PTKHDJ8HDUF78PFWH30</custodianLei>
            <custodianStateCountry custodianState="US-IL" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>HSBC Bank USA, N.A.</shareholderServiceAgentName>
            <shareholderServiceAgentLei>1IE8VN30JCEQV1H4R804</shareholderServiceAgentLei>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-NY" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>Y</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>HSBC Global Asset Management (USA) Inc.</adminName>
            <adminLei>213800MB7UGCSL5S3P42</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokers>
          <broker>
            <brokerName>BARCLAYS</brokerName>
            <brokerFileNo>N/A</brokerFileNo>
            <brokerCrdNo>000018395</brokerCrdNo>
            <brokerLei>213800UYYZZYQPRT9B51</brokerLei>
            <brokerCountry>GB</brokerCountry>
            <grossCommission>20.70000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>20.70</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>BNP PARIBAS</principalName>
            <principalFileNo>008-32682</principalFileNo>
            <principalCrdNo>000015794</principalCrdNo>
            <principalLei>RCNB6OTYUAMMP879YW96</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1729408.37000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P Morgan Securities</principalName>
            <principalFileNo>008-36950</principalFileNo>
            <principalCrdNo>000018718</principalCrdNo>
            <principalLei>K6Q0W1PS1L1O4IQL9C32</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>3469708.97000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>WELLS FARGO</principalName>
            <principalFileNo>008-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>1605805.80000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>000018395</principalCrdNo>
            <principalLei>213800UYYZZYQPRT9B51</principalLei>
            <principalCountry>GB</principalCountry>
            <principalTotalPurchaseSale>1272909.87000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BANK OF AMERICA</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>000112613</principalCrdNo>
            <principalLei>EYKN6V0ZCB8VD9IULB80</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>1918278.65000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>CANTOR FITZGERALD</principalName>
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            <principalCrdNo>000000134</principalCrdNo>
            <principalLei>5493004J7H4GCPG6OB62</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1429470.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>CREDIT SUISSE</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>N/A</principalLei>
            <principalCountry>CH</principalCountry>
            <principalTotalPurchaseSale>2938932.44000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>MORGAN STANLEY</principalName>
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            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>922731.75000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>GOLDMAN SACHS</principalName>
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            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>549300CWUTEDC3CFJ739</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1597689.74000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>CITIGROUP</principalName>
            <principalFileNo>008-08177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2090723.05000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>55490296.27</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>30092230.64000000</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>HSBC U.S. Treasury Money Market Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000005052</mgmtInvSeriesId>
        <mgmtInvLei>213800RE7LTFGSCFQQ20</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>8</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000013811" sharesOutstandingTickerSymbol="HUCXX"/>
          <sharesOutstanding sharesOutstandingClassName="Class Y" sharesOutstandingClassId="C000013809" sharesOutstandingTickerSymbol="HTYXX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000013808" sharesOutstandingTickerSymbol="HWAXX"/>
          <sharesOutstanding sharesOutstandingClassName="Class I" sharesOutstandingClassId="C000013813" sharesOutstandingTickerSymbol="HBIXX"/>
          <sharesOutstanding sharesOutstandingClassName="Intermediary Class" sharesOutstandingClassId="C000167218" sharesOutstandingTickerSymbol="HTGXX"/>
          <sharesOutstanding sharesOutstandingClassName="Class E" sharesOutstandingClassId="C000081886" sharesOutstandingTickerSymbol="HTEXX"/>
          <sharesOutstanding sharesOutstandingClassName="Class D" sharesOutstandingClassId="C000013812" sharesOutstandingTickerSymbol="HTDXX"/>
          <sharesOutstanding sharesOutstandingClassName="Intermediary Service Class" sharesOutstandingClassId="C000167219" sharesOutstandingTickerSymbol="HTFXX"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Money Market Fund</fundType>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>N</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>Y</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>HSBC Global Asset Management (USA) Inc.</investmentAdviserName>
            <investmentAdviserFileNo>801-25999</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105686</investmentAdviserCrdNo>
            <investmentAdviserLei>213800MB7UGCSL5S3P42</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>DST Asset Manager Solutions, Inc.</transferAgentName>
            <transferAgentFileNo>084-00896</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Intercontinental Exchange</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-GA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>PricingDirect</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Thomson Reuters</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Northern Trust Company</custodianName>
            <custodianLei>6PTKHDJ8HDUF78PFWH30</custodianLei>
            <custodianStateCountry custodianState="US-IL" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>HSBC Bank USA, N.A.</shareholderServiceAgentName>
            <shareholderServiceAgentLei>1IE8VN30JCEQV1H4R804</shareholderServiceAgentLei>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-NY" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>Y</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>HSBC Global Asset Management (USA) Inc.</adminName>
            <adminLei>213800MB7UGCSL5S3P42</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <aggregateCommission>0</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>J.P Morgan Securities</principalName>
            <principalFileNo>008-36950</principalFileNo>
            <principalCrdNo>000018718</principalCrdNo>
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            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1227129092.86000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BANK OF AMERICA</principalName>
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            <principalCrdNo>000112613</principalCrdNo>
            <principalLei>EYKN6V0ZCB8VD9IULB80</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>2644057584.88000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BANK OF MONTREAL CORP</principalName>
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            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>549300XXOFRGCUQF1Y98</principalLei>
            <principalCountry>CA</principalCountry>
            <principalTotalPurchaseSale>903073850.43000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS</principalName>
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            <principalCrdNo>000018395</principalCrdNo>
            <principalLei>213800UYYZZYQPRT9B51</principalLei>
            <principalCountry>GB</principalCountry>
            <principalTotalPurchaseSale>2518849460.85000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>WELLS FARGO</principalName>
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            <principalCrdNo>000126292</principalCrdNo>
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            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>2627281575.83000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>MIZUHO SECURITIES</principalName>
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            <principalStateCountry principalState="US-NY" principalCountry="US"/>
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          <principalTransaction>
            <principalName>TD SECURITIES</principalName>
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            <principalLei>SUVUFHICNZMP2WKHG940</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1013259689.29000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>CITIGROUP</principalName>
            <principalFileNo>008-08177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>3210700728.98000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>DEUTSCHE BANK</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>529900BXKPMXQTRE1V05</principalLei>
            <principalCountry>CH</principalCountry>
            <principalTotalPurchaseSale>2551966274.82000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>NOMURA</principalName>
            <principalFileNo>008-50057</principalFileNo>
            <principalCrdNo>000042885</principalCrdNo>
            <principalLei>N/A</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>3933654042.46000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>27277098221.7</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <dailyAvgNetAssets>1955215864.61000000</dailyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>HSBC Opportunity Portfolio</mgmtInvFundName>
        <mgmtInvSeriesId>S000055061</mgmtInvSeriesId>
        <mgmtInvLei>213800HO64XDKSZCIW67</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>1</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Master Portfolio" sharesOutstandingClassId="C000173143" sharesOutstandingTickerSymbol="N/A"/>
        </sharesOutstandings>
        <fundTypes>
          <masterFeederFundInfo fundType="Master-Feeder Fund">
            <feederFunds feederFundName="HSBC Opportunity Fund" regFeederFundFileNo="811-04782" regFeederFundSeriesIdNo="S000005038" regFeederFundLei="213800KVTVYOA4N6AY73" unregFeederFileNo="N/A" unregFeederFundLei="N/A"/>
          </masterFeederFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>N</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>N</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>N</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>HSBC Global Asset Management (USA) Inc.</investmentAdviserName>
            <investmentAdviserFileNo>801-25999</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105686</investmentAdviserCrdNo>
            <investmentAdviserLei>213800MB7UGCSL5S3P42</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <subAdvisers>
          <subAdviser>
            <subAdviserName>Westfield Capital Management Company, L.P.</subAdviserName>
            <subAdviserFileNo>801-69413</subAdviserFileNo>
            <subAdviserCrdNo>000146990</subAdviserCrdNo>
            <subAdviserLei>549300S6UXVEE0EKUL97</subAdviserLei>
            <isSubAdviserAffiliated>N</isSubAdviserAffiliated>
            <subAdviserStateCountry subAdviserState="US-MA" subAdviserCountry="US"/>
            <isSubAdviserHired>N</isSubAdviserHired>
          </subAdviser>
        </subAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>DST Asset Manager Solutions, Inc.</transferAgentName>
            <transferAgentFileNo>084-00896</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Bloomberg</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Thomson Reuters</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Intercontinental Exchange</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-GA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Northern Trust Company</custodianName>
            <custodianLei>6PTKHDJ8HDUF78PFWH30</custodianLei>
            <custodianStateCountry custodianState="US-IL" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>HSBC Global Asset Management (USA) Inc.</adminName>
            <adminLei>213800MB7UGCSL5S3P42</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokers>
          <broker>
            <brokerName>ISI GROUP</brokerName>
            <brokerFileNo>008-43515</brokerFileNo>
            <brokerCrdNo>000028195</brokerCrdNo>
            <brokerLei>213800AWTJESHH3ZZM26</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>5955.60000000</grossCommission>
          </broker>
          <broker>
            <brokerName>CREDIT SUISSE</brokerName>
            <brokerFileNo>N/A</brokerFileNo>
            <brokerCrdNo>N/A</brokerCrdNo>
            <brokerLei>N/A</brokerLei>
            <brokerCountry>CH</brokerCountry>
            <grossCommission>7483.50000000</grossCommission>
          </broker>
          <broker>
            <brokerName>LIQUIDNET</brokerName>
            <brokerFileNo>008-52461</brokerFileNo>
            <brokerCrdNo>000103987</brokerCrdNo>
            <brokerLei>213800HSKBBO1GCVRG79</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>16566.09000000</grossCommission>
          </broker>
          <broker>
            <brokerName>SANFORD BERNSTEIN</brokerName>
            <brokerFileNo>008-52942</brokerFileNo>
            <brokerCrdNo>000104474</brokerCrdNo>
            <brokerLei>549300XBDNFQ7T12YS53</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>5518.15000000</grossCommission>
          </broker>
          <broker>
            <brokerName>INSTINET</brokerName>
            <brokerFileNo>008-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>9247.20000000</grossCommission>
          </broker>
          <broker>
            <brokerName>GOLDMAN SACHS</brokerName>
            <brokerFileNo>008-00129</brokerFileNo>
            <brokerCrdNo>000000361</brokerCrdNo>
            <brokerLei>549300CWUTEDC3CFJ739</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>4644.00000000</grossCommission>
          </broker>
          <broker>
            <brokerName>INVESTMENT TECHNOLOGY GROUP</brokerName>
            <brokerFileNo>N/A</brokerFileNo>
            <brokerCrdNo>N/A</brokerCrdNo>
            <brokerLei>N/A</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>6787.59000000</grossCommission>
          </broker>
          <broker>
            <brokerName>JONES TRADING</brokerName>
            <brokerFileNo>008-26089</brokerFileNo>
            <brokerCrdNo>000006888</brokerCrdNo>
            <brokerLei>2138008JJ5PA8H5UIL69</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>5715.54000000</grossCommission>
          </broker>
          <broker>
            <brokerName>J.P Morgan Securities</brokerName>
            <brokerFileNo>008-36950</brokerFileNo>
            <brokerCrdNo>000018718</brokerCrdNo>
            <brokerLei>K6Q0W1PS1L1O4IQL9C32</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>12849.44000000</grossCommission>
          </broker>
          <broker>
            <brokerName>WELLS FARGO</brokerName>
            <brokerFileNo>N/A</brokerFileNo>
            <brokerCrdNo>000126292</brokerCrdNo>
            <brokerLei>VYVVCKR63DVZZN70PB21</brokerLei>
            <brokerStateCountry brokerState="US-NC" brokerCountry="US"/>
            <grossCommission>7139.20000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>141154.75</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>J.P Morgan Securities</principalName>
            <principalFileNo>008-36950</principalFileNo>
            <principalCrdNo>000018718</principalCrdNo>
            <principalLei>K6Q0W1PS1L1O4IQL9C32</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>30360.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>CITIGROUP</principalName>
            <principalFileNo>008-08177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2827930.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>UBS</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>549300SZJ9VS8SGXAN81</principalLei>
            <principalCountry>CH</principalCountry>
            <principalTotalPurchaseSale>1419600.00000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>154635910.43</principalAggregatePurchase>
        <isBrokerageResearchPayment>Y</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>153810006.48000000</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>HSBC Emerging Markets Debt Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000012975</mgmtInvSeriesId>
        <mgmtInvLei>549300BFPLUHG6BMH621</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>2</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class I" sharesOutstandingClassId="C000035070" sharesOutstandingTickerSymbol="HCGIX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000035069" sharesOutstandingTickerSymbol="HCGAX"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>N</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>Y</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>HSBC Global Asset Management (USA) Inc.</investmentAdviserName>
            <investmentAdviserFileNo>801-25999</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105686</investmentAdviserCrdNo>
            <investmentAdviserLei>213800MB7UGCSL5S3P42</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>DST Asset Manager Solutions, Inc.</transferAgentName>
            <transferAgentFileNo>084-00896</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Intercontinental Exchange</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-GA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>PricingDirect</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Thomson Reuters</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Super Derivatives</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-GA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>WM/Reuters</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Northern Trust Company</custodianName>
            <custodianLei>6PTKHDJ8HDUF78PFWH30</custodianLei>
            <custodianStateCountry custodianState="US-IL" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>HSBC Bank USA, N.A.</shareholderServiceAgentName>
            <shareholderServiceAgentLei>1IE8VN30JCEQV1H4R804</shareholderServiceAgentLei>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-NY" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>Y</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>HSBC Global Asset Management (USA) Inc.</adminName>
            <adminLei>213800MB7UGCSL5S3P42</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokers>
          <broker>
            <brokerName>BARCLAYS</brokerName>
            <brokerFileNo>N/A</brokerFileNo>
            <brokerCrdNo>000018395</brokerCrdNo>
            <brokerLei>213800UYYZZYQPRT9B51</brokerLei>
            <brokerCountry>GB</brokerCountry>
            <grossCommission>331.50000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>331.50000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>DEUTSCHE BANK</principalName>
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            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>529900BXKPMXQTRE1V05</principalLei>
            <principalCountry>CH</principalCountry>
            <principalTotalPurchaseSale>2102812.30000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>JEFFERIES</principalName>
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            <principalCrdNo>000002347</principalCrdNo>
            <principalLei>58PU97L1C0WSRCWADL48</principalLei>
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            <principalTotalPurchaseSale>2551431.20000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P Morgan Securities</principalName>
            <principalFileNo>008-36950</principalFileNo>
            <principalCrdNo>000018718</principalCrdNo>
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            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>6114192.05000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BBVA</principalName>
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            <principalLei>K8MS7FD7N5Z2WQ51AZ71</principalLei>
            <principalCountry>ES</principalCountry>
            <principalTotalPurchaseSale>4625513.79000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>STANDARD CHARTER BANK</principalName>
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            <principalCrdNo>000130847</principalCrdNo>
            <principalLei>N/A</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2174635.59000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BNP PARIBAS</principalName>
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            <principalCrdNo>000015794</principalCrdNo>
            <principalLei>RCNB6OTYUAMMP879YW96</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2833822.82000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>CITIGROUP</principalName>
            <principalFileNo>008-08177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>11921793.26000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>CREDIT SUISSE</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>N/A</principalLei>
            <principalCountry>CH</principalCountry>
            <principalTotalPurchaseSale>3417518.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>MORGAN STANLEY</principalName>
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            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>5630871.27000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BANK OF AMERICA</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>000112613</principalCrdNo>
            <principalLei>EYKN6V0ZCB8VD9IULB80</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>4296570.72000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>108767264.09</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>53399558.50000000</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>HSBC U.S. Government Money Market Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000005047</mgmtInvSeriesId>
        <mgmtInvLei>213800MK2OTSN7TSAV83</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>8</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Intermediary Service Class" sharesOutstandingClassId="C000167215" sharesOutstandingTickerSymbol="HGFXX"/>
          <sharesOutstanding sharesOutstandingClassName="Class D" sharesOutstandingClassId="C000013787" sharesOutstandingTickerSymbol="HGDXX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000013786" sharesOutstandingTickerSymbol="HUMXX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000013783" sharesOutstandingTickerSymbol="FTRXX"/>
          <sharesOutstanding sharesOutstandingClassName="Class Y" sharesOutstandingClassId="C000013784" sharesOutstandingTickerSymbol="RGYXX"/>
          <sharesOutstanding sharesOutstandingClassName="Class I" sharesOutstandingClassId="C000013788" sharesOutstandingTickerSymbol="HGIXX"/>
          <sharesOutstanding sharesOutstandingClassName="Class E" sharesOutstandingClassId="C000081883" sharesOutstandingTickerSymbol="HGEXX"/>
          <sharesOutstanding sharesOutstandingClassName="Intermediary Class" sharesOutstandingClassId="C000167214" sharesOutstandingTickerSymbol="HGGXX"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Money Market Fund</fundType>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>N</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>Y</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>HSBC Global Asset Management (USA) Inc.</investmentAdviserName>
            <investmentAdviserFileNo>801-25999</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105686</investmentAdviserCrdNo>
            <investmentAdviserLei>213800MB7UGCSL5S3P42</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>DST Asset Manager Solutions, Inc.</transferAgentName>
            <transferAgentFileNo>084-00896</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Intercontinental Exchange</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-GA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>PricingDirect</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Thomson Reuters</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Northern Trust Company</custodianName>
            <custodianLei>6PTKHDJ8HDUF78PFWH30</custodianLei>
            <custodianStateCountry custodianState="US-IL" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>HSBC Bank USA, N.A.</shareholderServiceAgentName>
            <shareholderServiceAgentLei>1IE8VN30JCEQV1H4R804</shareholderServiceAgentLei>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-NY" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>Y</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>HSBC Global Asset Management (USA) Inc.</adminName>
            <adminLei>213800MB7UGCSL5S3P42</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <aggregateCommission>0</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>SOCIETE GENERALE</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>000042731</principalCrdNo>
            <principalLei>969500E0BD5PO8N2HS42</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>124196476750.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>CITIGROUP</principalName>
            <principalFileNo>008-08177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>28540580930.15000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BNP PARIBAS</principalName>
            <principalFileNo>008-32682</principalFileNo>
            <principalCrdNo>000015794</principalCrdNo>
            <principalLei>RCNB6OTYUAMMP879YW96</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>282636686050.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>DEUTSCHE BANK</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>529900BXKPMXQTRE1V05</principalLei>
            <principalCountry>CH</principalCountry>
            <principalTotalPurchaseSale>116223514289.43000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>CREDIT AGRICOLE SECURITIES</principalName>
            <principalFileNo>008-13753</principalFileNo>
            <principalCrdNo>000000190</principalCrdNo>
            <principalLei>549300WO2DKF0Q3YMV43</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>215782674814.44000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BANK OF AMERICA</principalName>
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            <principalCrdNo>000112613</principalCrdNo>
            <principalLei>EYKN6V0ZCB8VD9IULB80</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>30456763485.17000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>RBC CAPITAL MARKETS CORP</principalName>
            <principalFileNo>008-45411</principalFileNo>
            <principalCrdNo>000031194</principalCrdNo>
            <principalLei>549300LCO2FLSSVFFR64</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>148468172644.99000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BANK OF NEW YORK</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>000112559</principalCrdNo>
            <principalLei>HPFHU0OQ28E4N0NFVK49</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>12331600000.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>TD SECURITIES</principalName>
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            <principalCrdNo>000018476</principalCrdNo>
            <principalLei>SUVUFHICNZMP2WKHG940</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>84890477498.11000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>GOLDMAN SACHS</principalName>
            <principalFileNo>008-00129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>549300CWUTEDC3CFJ739</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>28032876041.47000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>1128395051632.99</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <dailyAvgNetAssets>10471102576.04000000</dailyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>HSBC Opportunity Fund Class I</mgmtInvFundName>
        <mgmtInvSeriesId>S000053727</mgmtInvSeriesId>
        <mgmtInvLei>213800YYS6TTIK3H4G84</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>1</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class I" sharesOutstandingClassId="C000168898" sharesOutstandingTickerSymbol="RESCX"/>
        </sharesOutstandings>
        <fundTypes>
          <masterFeederFundInfo fundType="Master-Feeder Fund">
            <masterFunds masterFundName="HSBC Opportunity Portfolio" masterFundFileNo="811-04782" masterFundSECFileNo="801-25999" masterFundLei="213800HO64XDKSZCIW67"/>
          </masterFeederFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>N</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>Y</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>HSBC Global Asset Management (USA) Inc.</investmentAdviserName>
            <investmentAdviserFileNo>801-25999</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105686</investmentAdviserCrdNo>
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            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>DST Asset Manager Solutions, Inc.</transferAgentName>
            <transferAgentFileNo>084-00896</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Northern Trust Company</custodianName>
            <custodianLei>6PTKHDJ8HDUF78PFWH30</custodianLei>
            <custodianStateCountry custodianState="US-IL" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>HSBC Bank USA, N.A.</shareholderServiceAgentName>
            <shareholderServiceAgentLei>1IE8VN30JCEQV1H4R804</shareholderServiceAgentLei>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-NY" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>Y</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>HSBC Global Asset Management (USA) Inc.</adminName>
            <adminLei>213800MB7UGCSL5S3P42</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <aggregateCommission>0</aggregateCommission>
        <principalAggregatePurchase>0</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>143306131.70</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>HSBC Opportunity Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000005038</mgmtInvSeriesId>
        <mgmtInvLei>213800KVTVYOA4N6AY73</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>3</numAuthorizedClass>
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        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000013749" sharesOutstandingTickerSymbol="HSOAX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000013751" sharesOutstandingTickerSymbol="HOPCX"/>
          <sharesOutstanding sharesOutstandingClassName="Class B" sharesOutstandingClassId="C000013750" sharesOutstandingTickerSymbol="HOPBX"/>
        </sharesOutstandings>
        <fundTypes>
          <masterFeederFundInfo fundType="Master-Feeder Fund">
            <masterFunds masterFundName="HSBC Opportunity Portfolio" masterFundFileNo="811-04782" masterFundSECFileNo="801-25999" masterFundLei="213800HO64XDKSZCIW67"/>
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        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>N</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>Y</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>HSBC Global Asset Management (USA) Inc.</investmentAdviserName>
            <investmentAdviserFileNo>801-25999</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105686</investmentAdviserCrdNo>
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            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>DST Asset Manager Solutions, Inc.</transferAgentName>
            <transferAgentFileNo>084-00896</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Northern Trust Company</custodianName>
            <custodianLei>6PTKHDJ8HDUF78PFWH30</custodianLei>
            <custodianStateCountry custodianState="US-IL" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>HSBC Bank USA, N.A.</shareholderServiceAgentName>
            <shareholderServiceAgentLei>1IE8VN30JCEQV1H4R804</shareholderServiceAgentLei>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-NY" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>Y</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>HSBC Global Asset Management (USA) Inc.</adminName>
            <adminLei>213800MB7UGCSL5S3P42</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <aggregateCommission>0</aggregateCommission>
        <principalAggregatePurchase>0</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>10434588.44</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
    </managementInvestmentQuestionSeriesInfo>
    <attachmentsTab>
      <isIPAReportInternalControl>true</isIPAReportInternalControl>
    </attachmentsTab>
    <signature registrantSignedName="HSBC Funds" signedDate="2019-01-11" signature="Allan Shaer" title="Treasurer"/>
  </formData>
</edgarSubmission>
