Two HSBC Tax-Free Money Market funds to liquidate March 28

By Toni Weeks

San Luis Obispo, Calif., Jan. 31 - HSBC Global Asset Management (USA) Inc. is delaying the liquidation of the HSBC New York Tax-Free Money Market Fund and the HSBC Tax-Free Money Market Fund until March 28, according to a 497 filing with the Securities and Exchange Commission.

The board of trustees of HSBC Funds approved on Dec. 18 a plan of liquidation for each fund. The liquidations were planned for Dec. 28 and then pushed out to Jan. 31.

The New York-based investment adviser is again postponing the liquidations to provide additional time to notify shareholders and financial intermediaries, the filing said.

The funds no longer sell shares to new investors, including through exchanges into each fund from other funds of the HSBC Funds.

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