A Prospectus Supplement filing for HSBC U.​S. Government Money Market Fund and HSBC U.​S. Treasury Money Market Fund says, "Upon the recommendation of HSBC Global Asset Management (​USA) Inc. (​the '​Adviser'), the Board of Trustees of HSBC Funds (​the '​Trust') has approved: (​i) the conversion of the outstanding Intermediary Class Shares of the HSBC U.​S. Government Money Market Fund (​the '​Government Fund') and the HSBC U.​S. Treasury Money Market Fund (​the '​Treasury Fund,' and with the Government Fund, the '​Funds') into Intermediary Service Class Shares of the same respective Fund; (​ii) the termination of the Intermediary Class Shares of the Funds; and (​iii) the elimination of the shareholder servicing fees for Intermediary Service Class Shares and Class P Shares of the Funds. These changes will take effect on or about September 11, 2026, or on such other date as the officers of the Trust determine (​the '​Effective Date')." It tells us, "Effective immediately, the Funds will no longer sell Intermediary Class Shares to new investors or existing shareholders (​except through reinvested dividends), including through exchanges into each Fund. Investors may continue to redeem shares of each Fund prior to the Effective Date." The filing adds, "​As a result, effective on the Effective Date, the following changes are being made to the Prospectus and SAI: 1. All references to Intermediary Class Shares of the Government and Treasury Funds are eliminated."

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