<PAGE> PAGE 1
000 A000000 06/30/98
000 C000000 0000781905
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 HSBC FUNDS TRUST
001 B000000 811-4453
001 C000000 8006342536
002 A000000 3435 STELZER ROAD
002 B000000 COLUMBUS
002 C000000 OH
002 D010000 43219
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 4
007 C010100 1
007 C020100 CASH MANAGEMENT FUND
007 C030100 N
007 C010200 2
007 C020200 GOVERNMENT MONEY MARKET FUND
007 C030200 N
007 C010300 3
007 C020300 U.S. TREASURY MONEY MARKET FUND
007 C030300 N
007 C010400 4
007 C010500 5
007 C020500 NEW YORK TAX-FREE MONEY MARKET FUND
007 C030500 N
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
007 C011100 11
007 C011200 12
007 C011300 13
007 C011400 14
007 C011500 15
007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
008 A00AA01 HSBC ASSET MANAGEMENT AMERICAS INC
<PAGE> PAGE 2
008 B00AA01 A
008 C00AA01 801-25999
008 D01AA01 NEW YORK
008 D02AA01 NY
008 D03AA01 10177
010 A00AA01 BISYS FUND SERVICES
010 B00AA01 8-34626
010 C01AA01 COLUMBUS
010 C02AA01 OH
010 C03AA01 43219
010 A00AA02 HSBC ASSET MANAGEMENT AMERICAS, INC.
010 C01AA02 NEW YORK
010 C02AA02 NY
010 C03AA02 10177
011 A00AA01 BISYS FUND SERVICES
011 B00AA01 8-34626
011 C01AA01 COLUMBUS
011 C02AA01 OH
011 C03AA01 43219
012 A00AA01 BISYS FUND SERVICES
012 B00AA01 85-00000
012 C01AA01 COLUMBUS
012 C02AA01 OH
012 C03AA01 43219
013 A00AA01 ERNST & YOUNG LLP
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10019
014 A00AA01 MARINE MIDLAND SECURITIES, INC.
014 B00AA01 8-34626
015 A00AA01 BANK OF NEW YORK
015 B00AA01 C
015 C01AA01 NEW YORK
015 C02AA01 NY
015 C03AA01 10286
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 8
019 C00AA00 HSBCMUTUAL
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 0
<PAGE> PAGE 3
022 A000001 CHASE SECURITIES INC.
022 B000001 36-2669970
022 C000001 3448641
022 D000001 22400
022 A000002 DONALDSON, LUFKIN & JEANRETTE SECURITIES
022 B000002 13-2741729
022 C000002 627611
022 D000002 598
022 A000003 MERRILL LYNCH & CO., INC.
022 B000003 13-5674085
022 C000003 217850
022 D000003 12768
022 A000004 LEHMAN BROTHERS, INC.
022 B000004 13-2518466
022 C000004 160446
022 D000004 19335
022 A000005 PRUDENTIAL SECURITIES, INC.
022 B000005 22-2347336
022 C000005 78749
022 D000005 22488
022 A000006 FIRST BOSTON CORP.
022 B000006 13-5659485
022 C000006 84383
022 D000006 0
022 A000007 UBS SECURITIES
022 B000007 13-2932996
022 C000007 43053
022 D000007 27512
022 A000008 TEMPORARY INVESTMENT FUND
022 C000008 24452
022 D000008 27450
022 A000009 GOLDMAN, SACHS & CO.
022 B000009 13-5108880
022 C000009 44758
022 D000009 5059
022 A000010 BANK OF NEW YORK
022 B000010 13-5160385
022 C000010 19607
022 D000010 23198
023 C000000 5048605
023 D000000 235790
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
<PAGE> PAGE 4
029 00AA00 N
030 A00AA00 0
030 B00AA00 0.00
030 C00AA00 0.00
031 A00AA00 0
031 B00AA00 0
032 00AA00 0
033 00AA00 0
034 00AA00 N
035 00AA00 0
036 B00AA00 0
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 Y
041 00AA00 Y
045 00AA00 Y
046 00AA00 N
047 00AA00 Y
048 00AA00 0.000
048 A01AA00 500000
048 A02AA00 0.350
048 B01AA00 500000
048 B02AA00 0.315
048 C01AA00 500000
048 C02AA00 0.280
048 D01AA00 0
048 D02AA00 0.000
048 E01AA00 0
048 E02AA00 0.000
048 F01AA00 0
048 F02AA00 0.000
048 G01AA00 0
048 G02AA00 0.000
048 H01AA00 0
048 H02AA00 0.000
048 I01AA00 0
048 I02AA00 0.000
048 J01AA00 0
048 J02AA00 0.000
048 K01AA00 1500000
048 K02AA00 0.245
054 A00AA00 N
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 N
054 I00AA00 N
<PAGE> PAGE 5
054 J00AA00 N
054 K00AA00 N
054 L00AA00 N
054 M00AA00 N
054 N00AA00 N
054 O00AA00 N
077 A000000 Y
077 B000000 N
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
080 C00AA00 0
081 A00AA00 Y
081 B00AA00 4
082 A00AA00 N
082 B00AA00 0
083 B00AA00 0
084 B00AA00 0
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
024 000100 N
025 A000101 DELETE
025 D000101 0
025 A000102 DELETE
025 D000102 0
025 A000103 DELETE
<PAGE> PAGE 6
025 D000103 0
025 A000104 DELETE
025 D000104 0
025 A000105 DELETE
025 D000105 0
025 D000106 0
025 D000107 0
025 D000108 0
028 A010100 107967
028 A020100 562
028 A030100 0
028 A040100 90478
028 B010100 85186
028 B020100 539
028 B030100 0
028 B040100 89066
028 C010100 93839
028 C020100 508
028 C030100 0
028 C040100 107228
028 D010100 86169
028 D020100 607
028 D030100 0
028 D040100 75204
028 E010100 83781
028 E020100 619
028 E030100 0
028 E040100 83828
028 F010100 86408
028 F020100 648
028 F030100 0
028 F040100 85654
028 G010100 543350
028 G020100 3483
028 G030100 0
028 G040100 531458
028 H000100 0
042 A000100 0
042 B000100 0
042 C000100 0
042 D000100 100
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 0
043 000100 75
044 000100 0
049 000100 N
050 000100 N
051 000100 N
052 000100 N
<PAGE> PAGE 7
053 A000100 Y
053 B000100 Y
053 C000100 N
055 A000100 N
055 B000100 N
056 000100 Y
057 000100 N
058 A000100 N
059 000100 Y
060 A000100 Y
060 B000100 Y
061 000100 1000
062 A000100 Y
062 B000100 0.0
062 C000100 0.0
062 D000100 23.3
062 E000100 0.0
062 F000100 21.6
062 G000100 0.0
062 H000100 0.0
062 I000100 30.5
062 J000100 0.0
062 K000100 0.0
062 L000100 24.2
062 M000100 0.0
062 N000100 0.0
062 O000100 0.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
063 A000100 49
063 B000100 0.0
064 A000100 Y
064 B000100 N
066 A000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 Y
070 B010100 N
070 B020100 N
070 C010100 N
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 N
070 F020100 N
<PAGE> PAGE 8
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 N
070 J020100 N
070 K010100 Y
070 K020100 N
070 L010100 Y
070 L020100 Y
070 M010100 N
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 N
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 0
071 B000100 0
071 C000100 0
071 D000100 0
072 A000100 6
072 B000100 5612
072 C000100 13
072 D000100 0
072 E000100 0
072 F000100 342
072 G000100 147
072 H000100 0
072 I000100 72
072 J000100 9
072 K000100 0
072 L000100 0
072 M000100 0
072 N000100 0
072 O000100 0
072 P000100 0
072 Q000100 2
072 R000100 0
072 S000100 49
072 T000100 75
072 U000100 0
072 V000100 0
072 W000100 129
<PAGE> PAGE 9
072 X000100 825
072 Y000100 190
072 Z000100 4990
072AA000100 0
072BB000100 0
072CC010100 0
072CC020100 0
072DD010100 4990
072DD020100 0
072EE000100 0
073 A010100 0.0250
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 1
074 B000100 46410
074 C000100 152311
074 D000100 0
074 E000100 0
074 F000100 0
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 0
074 K000100 0
074 L000100 1825
074 M000100 15
074 N000100 200562
074 O000100 0
074 P000100 82
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 900
074 S000100 0
074 T000100 199580
074 U010100 199583
074 U020100 0
074 V010100 1.00
074 V020100 0.00
074 W000100 0.9997
074 X000100 1767
074 Y000100 0
075 A000100 197173
075 B000100 0
076 000100 0.00
024 000200 N
025 A000201 DELETE
025 D000201 0
025 A000202 DELETE
<PAGE> PAGE 10
025 D000202 0
025 A000203 DELETE
025 D000203 0
025 D000204 0
025 D000205 0
025 D000206 0
025 D000207 0
025 D000208 0
028 A010200 15371
028 A020200 130
028 A030200 0
028 A040200 43883
028 B010200 19180
028 B020200 150
028 B030200 0
028 B040200 18575
028 C010200 12708
028 C020200 105
028 C030200 0
028 C040200 21691
028 D010200 24455
028 D020200 72
028 D030200 0
028 D040200 24600
028 E010200 8783
028 E020200 66
028 E030200 0
028 E040200 14882
028 F010200 43676
028 F020200 63
028 F030200 0
028 F040200 11507
028 G010200 124173
028 G020200 586
028 G030200 0
028 G040200 135138
028 H000200 0
042 A000200 0
042 B000200 0
042 C000200 0
042 D000200 100
042 E000200 0
042 F000200 0
042 G000200 0
042 H000200 0
043 000200 16
044 000200 0
049 000200 N
050 000200 N
051 000200 N
052 000200 N
<PAGE> PAGE 11
053 A000200 Y
053 B000200 Y
053 C000200 N
055 A000200 Y
055 B000200 N
056 000200 Y
057 000200 N
058 A000200 N
059 000200 Y
060 A000200 Y
060 B000200 Y
061 000200 1000
062 A000200 Y
062 B000200 0.0
062 C000200 62.5
062 D000200 43.0
062 E000200 0.0
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 0.0
062 N000200 0.0
062 O000200 0.0
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
063 A000200 48
063 B000200 0.0
064 A000200 N
064 B000200 N
066 A000200 N
067 000200 N
068 A000200 N
068 B000200 N
069 000200 N
070 A010200 Y
070 A020200 Y
070 B010200 N
070 B020200 N
070 C010200 N
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
<PAGE> PAGE 12
070 G010200 N
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 N
070 J020200 N
070 K010200 Y
070 K020200 Y
070 L010200 N
070 L020200 N
070 M010200 N
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 N
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 0
071 B000200 0
071 C000200 0
071 D000200 0
072 A000200 6
072 B000200 1954
072 C000200 2
072 D000200 0
072 E000200 0
072 F000200 121
072 G000200 52
072 H000200 0
072 I000200 22
072 J000200 6
072 K000200 0
072 L000200 0
072 M000200 0
072 N000200 0
072 O000200 0
072 P000200 0
072 Q000200 1
072 R000200 0
072 S000200 20
072 T000200 16
072 U000200 0
072 V000200 0
072 W000200 45
<PAGE> PAGE 13
072 X000200 283
072 Y000200 65
072 Z000200 1738
072AA000200 0
072BB000200 0
072CC010200 0
072CC020200 0
072DD010200 1738
072DD020200 0
072EE000200 0
073 A010200 0.0250
073 A020200 0.0000
073 B000200 0.0000
073 C000200 0.0000
074 A000200 1
074 B000200 38957
074 C000200 56503
074 D000200 0
074 E000200 0
074 F000200 0
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 0
074 K000200 0
074 L000200 393
074 M000200 7
074 N000200 95861
074 O000200 5000
074 P000200 37
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 342
074 S000200 0
074 T000200 90482
074 U010200 90484
074 U020200 0
074 V010200 1.00
074 V020200 0.00
074 W000200 0.9999
074 X000200 261
074 Y000200 0
075 A000200 69817
075 B000200 0
076 000200 0.00
024 000300 N
025 A000301 DELETE
025 D000301 0
025 A000302 DELETE
<PAGE> PAGE 14
025 D000302 0
025 A000303 DELETE
025 D000303 0
025 A000304 DELETE
025 D000304 0
025 A000305 DELETE
025 D000305 0
025 A000306 DELETE
025 D000306 0
025 D000307 0
025 D000308 0
028 A010300 12755
028 A020300 51
028 A030300 0
028 A040300 9893
028 B010300 23691
028 B020300 57
028 B030300 0
028 B040300 26922
028 C010300 29113
028 C020300 48
028 C030300 0
028 C040300 28662
028 D010300 10432
028 D020300 61
028 D030300 0
028 D040300 9670
028 E010300 7596
028 E020300 51
028 E030300 0
028 E040300 7662
028 F010300 12336
028 F020300 54
028 F030300 0
028 F040300 10896
028 G010300 95923
028 G020300 322
028 G030300 0
028 G040300 93705
028 H000300 0
042 A000300 0
042 B000300 0
042 C000300 0
042 D000300 100
042 E000300 0
042 F000300 0
042 G000300 0
042 H000300 0
043 000300 4
044 000300 0
049 000300 N
<PAGE> PAGE 15
050 000300 N
051 000300 N
052 000300 N
053 A000300 Y
053 B000300 Y
053 C000300 N
055 A000300 N
055 B000300 N
056 000300 Y
057 000300 N
058 A000300 N
059 000300 Y
060 A000300 Y
060 B000300 Y
061 000300 1000
062 A000300 Y
062 B000300 58.2
062 C000300 0.0
062 D000300 42.3
062 E000300 0.0
062 F000300 0.0
062 G000300 0.0
062 H000300 0.0
062 I000300 0.0
062 J000300 0.0
062 K000300 0.0
062 L000300 0.0
062 M000300 0.0
062 N000300 0.0
062 O000300 0.0
062 P000300 0.0
062 Q000300 0.0
062 R000300 0.0
063 A000300 49
063 B000300 0.0
064 A000300 N
064 B000300 N
066 A000300 N
067 000300 N
068 A000300 N
068 B000300 N
069 000300 N
070 A010300 Y
070 A020300 Y
070 B010300 N
070 B020300 N
070 C010300 N
070 C020300 N
070 D010300 N
070 D020300 N
070 E010300 N
<PAGE> PAGE 16
070 E020300 N
070 F010300 N
070 F020300 N
070 G010300 N
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 N
070 J020300 N
070 K010300 Y
070 K020300 Y
070 L010300 N
070 L020300 N
070 M010300 N
070 M020300 N
070 N010300 N
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 N
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
071 A000300 0
071 B000300 0
071 C000300 0
071 D000300 0
072 A000300 6
072 B000300 761
072 C000300 5
072 D000300 0
072 E000300 0
072 F000300 48
072 G000300 21
072 H000300 0
072 I000300 27
072 J000300 4
072 K000300 0
072 L000300 0
072 M000300 0
072 N000300 0
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 0
072 S000300 8
072 T000300 4
<PAGE> PAGE 17
072 U000300 0
072 V000300 0
072 W000300 26
072 X000300 138
072 Y000300 48
072 Z000300 676
072AA000300 0
072BB000300 1
072CC010300 0
072CC020300 0
072DD010300 676
072DD020300 0
072EE000300 0
073 A010300 0.0240
073 A020300 0.0000
073 B000300 0.0000
073 C000300 0.0000
074 A000300 0
074 B000300 11863
074 C000300 16313
074 D000300 0
074 E000300 0
074 F000300 0
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 0
074 K000300 0
074 L000300 43
074 M000300 2
074 N000300 28221
074 O000300 0
074 P000300 31
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 144
074 S000300 0
074 T000300 28046
074 U010300 28046
074 U020300 0
074 V010300 1.00
074 V020300 0.00
074 W000300 0.9998
074 X000300 155
074 Y000300 0
075 A000300 27852
075 B000300 0
076 000300 0.00
024 000500 N
<PAGE> PAGE 18
025 A000501 DELETE
025 D000501 0
025 A000502 DELETE
025 D000502 0
025 D000503 0
025 D000504 0
025 D000505 0
025 D000506 0
025 D000507 0
025 D000508 0
028 A010500 13234
028 A020500 168
028 A030500 0
028 A040500 19631
028 B010500 11675
028 B020500 152
028 B030500 0
028 B040500 15129
028 C010500 11333
028 C020500 126
028 C030500 0
028 C040500 8387
028 D010500 10355
028 D020500 131
028 D030500 0
028 D040500 17449
028 E010500 13241
028 E020500 137
028 E030500 0
028 E040500 7111
028 F010500 14791
028 F020500 142
028 F030500 0
028 F040500 16009
028 G010500 74629
028 G020500 856
028 G030500 0
028 G040500 83716
028 H000500 0
042 A000500 0
042 B000500 0
042 C000500 0
042 D000500 100
042 E000500 0
042 F000500 0
042 G000500 0
042 H000500 0
043 000500 25
044 000500 0
049 000500 N
050 000500 N
<PAGE> PAGE 19
051 000500 N
052 000500 N
053 A000500 Y
053 B000500 Y
053 C000500 N
055 A000500 Y
055 B000500 N
056 000500 Y
057 000500 N
058 A000500 N
059 000500 Y
060 A000500 Y
060 B000500 Y
061 000500 1000
062 A000500 Y
062 B000500 0.0
062 C000500 0.0
062 D000500 0.0
062 E000500 91.5
062 F000500 0.0
062 G000500 0.0
062 H000500 0.0
062 I000500 0.0
062 J000500 0.0
062 K000500 0.0
062 L000500 0.0
062 M000500 0.0
062 N000500 0.0
062 O000500 0.0
062 P000500 0.0
062 Q000500 0.0
062 R000500 8.5
063 A000500 31
063 B000500 0.0
064 A000500 Y
064 B000500 N
066 A000500 N
067 000500 N
068 A000500 N
068 B000500 N
069 000500 N
070 A010500 Y
070 A020500 N
070 B010500 N
070 B020500 N
070 C010500 N
070 C020500 N
070 D010500 N
070 D020500 N
070 E010500 N
070 E020500 N
<PAGE> PAGE 20
070 F010500 N
070 F020500 N
070 G010500 N
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 N
070 J020500 N
070 K010500 Y
070 K020500 Y
070 L010500 Y
070 L020500 N
070 M010500 N
070 M020500 N
070 N010500 Y
070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 N
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
071 A000500 0
071 B000500 0
071 C000500 0
071 D000500 0
072 A000500 6
072 B000500 1332
072 C000500 75
072 D000500 0
072 E000500 0
072 F000500 138
072 G000500 59
072 H000500 0
072 I000500 26
072 J000500 8
072 K000500 0
072 L000500 0
072 M000500 0
072 N000500 0
072 O000500 0
072 P000500 0
072 Q000500 3
072 R000500 0
072 S000500 24
072 T000500 32
072 U000500 0
<PAGE> PAGE 21
072 V000500 0
072 W000500 49
072 X000500 339
072 Y000500 87
072 Z000500 1155
072AA000500 0
072BB000500 1
072CC010500 0
072CC020500 0
072DD010500 1155
072DD020500 0
072EE000500 0
073 A010500 0.0150
073 A020500 0.0000
073 B000500 0.0000
073 C000500 0.0000
074 A000500 0
074 B000500 0
074 C000500 78497
074 D000500 0
074 E000500 0
074 F000500 0
074 G000500 0
074 H000500 0
074 I000500 0
074 J000500 0
074 K000500 0
074 L000500 540
074 M000500 7
074 N000500 79044
074 O000500 0
074 P000500 44
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
074 R040500 504
074 S000500 0
074 T000500 78496
074 U010500 78505
074 U020500 0
074 V010500 1.00
074 V020500 0.00
074 W000500 0.9999
074 X000500 361
074 Y000500 0
075 A000500 79540
075 B000500 0
076 000500 0.00
SIGNATURE WALLACE LAU
TITLE FINANCIAL ANALYST
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000781905
<NAME> HSBC FUNDS TRUST
<SERIES>
<NUMBER> 010
<NAME> CASH MANAGEMENT FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 198720830
<INVESTMENTS-AT-VALUE> 198720830
<RECEIVABLES> 1825175
<ASSETS-OTHER> 16301
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 200562306
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 982350
<TOTAL-LIABILITIES> 982350
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 199585697
<SHARES-COMMON-STOCK> 199582563
<SHARES-COMMON-PRIOR> 184207871
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (5741)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 199579956
<DIVIDEND-INCOME> 13160
<INTEREST-INCOME> 5612186
<OTHER-INCOME> 0
<EXPENSES-NET> 635479
<NET-INVESTMENT-INCOME> 4989867
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 4989867
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 4989867
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 543349544
<NUMBER-OF-SHARES-REDEEMED> 531457539
<SHARES-REINVESTED> 3482687
<NET-CHANGE-IN-ASSETS> 15374692
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 5741
<GROSS-ADVISORY-FEES> 342220
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 825321
<AVERAGE-NET-ASSETS> 197173268
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .025
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> .025
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .65
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000781905
<NAME> HSBC FUNDS TRUST
<SERIES>
<NUMBER> 020
<NAME> GOVERNMENT MONEY MARKET FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 95460068
<INVESTMENTS-AT-VALUE> 95460068
<RECEIVABLES> 393347
<ASSETS-OTHER> 8059
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 95861474
<PAYABLE-FOR-SECURITIES> 5000000
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 379412
<TOTAL-LIABILITIES> 5379412
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 90483102
<SHARES-COMMON-STOCK> 90483969
<SHARES-COMMON-PRIOR> 100863402
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1040)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 90482062
<DIVIDEND-INCOME> 1548
<INTEREST-INCOME> 1954179
<OTHER-INCOME> 0
<EXPENSES-NET> 217765
<NET-INVESTMENT-INCOME> 1737962
<REALIZED-GAINS-CURRENT> (116)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 1737846
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1737962
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 124173238
<NUMBER-OF-SHARES-REDEEMED> 135138383
<SHARES-REINVESTED> 585712
<NET-CHANGE-IN-ASSETS> (10379549)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 924
<GROSS-ADVISORY-FEES> 121178
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 282594
<AVERAGE-NET-ASSETS> 69817155
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .025
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> .025
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .63
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000781905
<NAME> HSBC FUNDS TRUST
<SERIES>
<NUMBER> 030
<NAME> U.S. TREASURY MONEY MARKET FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 28175421
<INVESTMENTS-AT-VALUE> 28175421
<RECEIVABLES> 43218
<ASSETS-OTHER> 2072
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 28220711
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 174663
<TOTAL-LIABILITIES> 174663
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 28046404
<SHARES-COMMON-STOCK> 28046060
<SHARES-COMMON-PRIOR> 25506739
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (356)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 28046048
<DIVIDEND-INCOME> 4878
<INTEREST-INCOME> 760682
<OTHER-INCOME> 0
<EXPENSES-NET> 89771
<NET-INVESTMENT-INCOME> 675789
<REALIZED-GAINS-CURRENT> (540)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 675249
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 675789
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 95922627
<NUMBER-OF-SHARES-REDEEMED> 93704762
<SHARES-REINVESTED> 321456
<NET-CHANGE-IN-ASSETS> 2538781
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 184
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 48338
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 137943
<AVERAGE-NET-ASSETS> 27851621
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .024
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> .024
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .65
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000781905
<NAME> HSBC FUNDS TRUST
<SERIES>
<NUMBER> 050
<NAME> NEW YORK TAX-FREE MONEY MARKET FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 78496879
<INVESTMENTS-AT-VALUE> 78496879
<RECEIVABLES> 540510
<ASSETS-OTHER> 6702
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 79044091
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 547662
<TOTAL-LIABILITIES> 547662
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 78539327
<SHARES-COMMON-STOCK> 78505220
<SHARES-COMMON-PRIOR> 86736588
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (42898)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 78496429
<DIVIDEND-INCOME> 74848
<INTEREST-INCOME> 1332318
<OTHER-INCOME> 0
<EXPENSES-NET> 252362
<NET-INVESTMENT-INCOME> 1154804
<REALIZED-GAINS-CURRENT> (1030)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 1153774
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1154804
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 74628636
<NUMBER-OF-SHARES-REDEEMED> 83716000
<SHARES-REINVESTED> 855996
<NET-CHANGE-IN-ASSETS> (8232398)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 41868
<GROSS-ADVISORY-FEES> 138066
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 339180
<AVERAGE-NET-ASSETS> 79539924
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .015
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> .015
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .64
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>