Two HSBC Tax-Free Money Market funds to liquidate Jan. 31

By Toni Weeks

San Diego, Dec. 26 - The board of trustees of HSBC Funds approved on Dec. 18 a plan of liquidation for the HSBC New York Tax-Free Money Market Fund and the HSBC Tax-Free Money Market Fund, according to a 497 filing with the Securities and Exchange Commission.

The liquidations will occur on or about Jan. 31.

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

New York-based HSBC Global Asset Management (USA) Inc. is the funds' investment adviser.

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