Important risk disclosure

Please click here and read carefully the summary of the key features and risks specific to this fund stated in the offering document prepared by the relevant fund house before making any investment decision.

You should not rely solely on the information contained on this webpage to make investment decisions. You should read carefully and understand the relevant fund's offering documents before making any investment decision.

HK0000465952
HSBC Global Money US Dollar

  • Cash management
  • Global
  • USD Cash
  • Accumulating
Invest with
USD Cash
Payout type
Accumulating
Risk rating
1
About this fund
Description
The Fund aims to preserve capital and provide daily liquidity together with an investment return that is comparable to US sovereign money market rate in the base currency of the Fund.
Key information
Annual report
Key fact sheet
Prospectus
Factsheet
Our perspective
Why we think this fund is best-in-class
product
Product
Offers a conservatively managed portfolio of USD-denominated ultra short-duration securities issued by both government and non-government issuers from around the world. Focus on capital preservation and liquidity, with yield generation being the second objective. A low-NAV LVNAV product that is suitable for smaller subscription amounts. Among the industry's earliest USD LVNAV funds, launched in 1991, it has demonstrated good risk control while delivering the investment objectives.
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people
People
Run by a team of Hong Kong-based money market managers, headed by a Lead PM with over two decades of experience. This team is reinforced by a backup PM. Oversight is provided by HSBC's Liquidity CIO, who brings more than 30 years of expertise to the table. The team further benefits from HSBC's rich credit research resources, allowing the team to create a highly granular and sophisticated portfolio of high-quality issuers to maximise risk-return characteristics. HSBC is an established money manager with extensive experience working with HKD liquidity products.
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performance
Performance
The Fund has consistently delivered favourable levels of yield and total return since its inception. Note that the Fund does not attempt to generate the highest returns among peer group, as it focuses on delivering a conservative and reliable solution for cash management. However, it's crucial to highlight that the net yield/total return could remain stable or potentially dip negative in low interest rate environments, aligning with its cautious investment mandate that does not aim to substantially outperform current rates.
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process
Process
In line with its objective of capital preservation and prudent liquidity management, the Fund does not pursue yield through opportunistic duration allocations. Portfolio maturity is capped at 60 days, and the average duration typically remains notably below the specified guidelines and tends to trail more prudently even compared to other money market peers. Historically, the Fund has consistently maintained liquidity levels surpassing regulatory requirements.
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cost
Cost
C Share Class with 100% trailer fee rebates to achieve the lowest possible fee. In periods of low-yield environments, management fee will generally be waived.
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selectionCriteria
How it fits in a portfolio
The fund aims to provide capital preservation and liquidity for investors looking for short-term liquidity management while generating some yield. Please note that while capital preservation is the primary objective of the fund, the fund is not a capital guarantee fund. Negative daily returns are not rare during extreme low-rate environments, specifically due to fund-level fees being greater than the yield. Although such negative returns are minimal, it may take a prolonged period for the fund to recover, and investors should be aware of such limitations during unfavourable market environments.
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Invest in this fund
Performance
Shows the total return of this accumulating fund, which includes dividends reinvested.
Total returns
All Time
17.73%
YTD
2.76%
1 month
0.32%
6 month
2.06%
1 year
4.38%
3 year
14.64%
5 year
15.22%
As of Aug 2025
Distributions
This is an accumulating fund, so dividends are re-invested at the fund level.
Yield
4.43%As of Jul 2025
Risk metrics
Volatility
0.60%As of Aug 2025
Calendar returns
YearTotalJanFebMarAprMayJunJulAugSepOctNovDec
2025-0.3%0.4%0.4%0.3%0.3%0.4%0.3%0.3%----
20245.1%0.5%0.4%0.4%0.5%0.4%0.4%0.5%0.4%0.4%0.4%0.4%0.4%
20235.0%0.4%0.3%0.4%0.4%0.4%0.4%0.4%0.4%0.4%0.5%0.4%0.4%
20221.5%0.0%0.0%0.0%0.0%0.0%0.1%0.1%0.2%0.2%0.2%0.3%0.3%
20210.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Subscription details
The fund manager of this fund requires an additional day for processing, and the trading price will be locked in on the next business day
Redemption details
The fund manager of this fund requires an additional day for processing, and the trading price will be locked in on the next business day
Top Exposures
Deposit37.39%
KB Kookmin Bank 0% (2025-10-31 Maturity)4.08%
Agence Francaise De Developpement 5.375%3.01%
Australia & New Zealand Banking Group Ltd. 0% (2025-09-19 Maturity)2.93%
Mizuho Bank, Ltd. Sydney Branch 0% (2025-10-20 Maturity)2.92%
DZ Bank AG Deutsche Zentral-Genossenschaftsbank 0% (2025-10-30 Maturity)2.63%
Rabobank International London Branch 0% (2025-11-10 Maturity)2.62%
MUFG Bank Ltd (Sydney Branch) 0% (2025-09-16 Maturity)2.49%
Bred Banque Populaire 0% (2025-11-28 Maturity)2.33%
Sumitomo Mitsui Banking Corporation, Sydney Branch 0% (2025-08-07 Maturity)2.21%
Sumitomo Mitsui Trust Bank Ltd Singapore Branch 0% (2025-08-22 Maturity)2.21%
BGL BNP Paribas S.A. 0% (2025-08-04 Maturity)2.21%
Temasek Financial (II) Private Limited 0% (2025-08-07 Maturity)2.21%
China Development Bank Hong Kong Branch 0% (2025-09-10 Maturity)2.20%
Shinhan Bank Singapore Branch 0% (2025-09-05 Maturity)2.20%
Top exposures represent up to 15 of the fund's largest exposures for each category. Allocation percentages may not sum up to 100% and can include negative values due to rounding or trading activities by the underlying fund managers, including short positions.
Fund fees
0.30%0.15% p.a.
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Fund facts
ISIN
HK0000465952
Fund house
HSBC AM
Fund size
US$705.9M
As of 09 Sep 2025
Fund inception date
04 Jan 2019
Fund class currency
USD
Fund share class
USD C Acc
Oldest share inception date
01 Mar 1991
Pricing frequency
Daily

Warning statements

  • All investments involve risks (including the possibility of loss of the capital invested) and the price of fund units may go up as well as down.
  • Past performance is not indicative of future performance.
  • Although this fund has been authorised by the Hong Kong Securities and Futures Commission (“SFC”), it does not imply an official recommendation or endorsement by the SFC nor does it guarantee the commercial merits of the fund or its performance.
  • If you are in any doubt, you should clarify with us or seek independent professional advice.

Risk Warnings Investment involves risk. Past performance is not an indicator nor a guarantee of future performance or returns. Projected performance or returns are not guaranteed to materialise. The value of investments and the income from them can go down as well as up, and you may not get the full amount you invested. Rates of exchange may cause the value of investments to go up or down. Individual stock performance does not represent the return of a fund.

The value of the fund can be volatile and can go down substantially within a short period of time. It is possible that a certain amount or all of your investment could be lost.

Generic risk warnings relating to collective investment schemes

Funds are not a bank deposit and not capital guaranteed, and is subject to investment risks, including the possible loss of the principal amount invested. There is no assurance that a fund will have sufficient liquidity to meet redemption requests and that the fund's investment objectives and strategies will be achieved.

The funds' investment may involve substantial market, currency, volatility, liquidity, regulatory and political risks. Some funds may use derivatives, whether for hedging or for investment purposes. The risks associated with derivatives include counterparty/credit, liquidity, valuation, volatility and market risks. The fund's volatility may increase or decrease from its derivative usage and such fund may suffer losses from its derivative usage. Do not invest in these funds unless you fully understand and are willing to assume the risks associated with them.

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