<p><span style="color: rgb(0,0,0);font-size: 8pt;font-family: Arial;">The Fund aims to provide short term capital growth and income by investing in a portfolio of bonds and money market instruments whose average duration of the portfolio holdings of the Fund is not expected to exceed one year, which is considered to be ultra-short duration.</span></p>


HSBC Investment Funds (Luxembourg) S.A.

HSBC Global Asset Management (USA) Inc.

USD Ultra Short-Term Bond

Morningstar US 0-1 Core exYnk TR USD

Fixed Income

Not Benchmarked

HSBC GIF Ultra Short Duration Bd PCHKD

HSBC GIF Ultra Short Duration Bd PC

2024

2023

2022

2021

2020

FixedIncome

CashEquivalents

United States

United Kingdom

Australia

France

Canada

Netherlands

Luxembourg

Germany

Japan

Supranational

Ireland

Sweden

Switzerland

Other countries

Unclassified

Bond - Corporate Bond

Bond - Capital Contingent Debt

Bond - Treasury Future

Mutual Fund - Open End

Bond - Asset Backed

Bond - Supranational

Bond - Non-Agency Residential MBS

Bond - Gov't Agency Debt

Bond - Short-term Government Bills

Bond - Global Non-Agency CMO

Bond - U.S. Agency Credit Risk CMO

Bond - Gov't/Treasury

Bond - Covered Bond

Bond - Commercial MBS

Bond - Collateralized Loan Obligations (CLO)

2 Year Treasury Note Future Sept 25 (2025-09-30 Maturity)

HSBC GIF Global IG Sec Credit Bd ZC

United States Treasury Bills 0% (2025-09-11 Maturity)

Federal Home Loan Mortgage Corp. 4.5448% (2028-07-07 Maturity)

New York Life Global Funding 5.00134% (2028-07-25 Maturity)

United States Treasury Notes 4.43983% (2027-07-31 Maturity)

National Rural Utilities Cooperative Finance Corp. 4.74077% (2025-12-03 Maturity)

Royal Bank of Canada 4.8003% (2026-08-03 Maturity)

Massmutual Global Funding II 5.06943% (2027-04-09 Maturity)

International Finance Corporation 4.56022% (2027-07-30 Maturity)