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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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008 A000901 HSBC ASSET MANAGEMENT AMERICAS INC.
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<PAGE> PAGE 25
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SIGNATURE RICK CLEMENS
TITLE SUPERVISOR
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<INVESTMENTS-AT-VALUE> 15807608
<RECEIVABLES> 1213971
<ASSETS-OTHER> 239557
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 17261136
<PAYABLE-FOR-SECURITIES> 558439
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 53418
<TOTAL-LIABILITIES> 611857
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 15946020
<SHARES-COMMON-STOCK> 1558346
<SHARES-COMMON-PRIOR> 1594032
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 21069
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 269074
<ACCUM-APPREC-OR-DEPREC> 993402
<NET-ASSETS> 16649279
<DIVIDEND-INCOME> 157708
<INTEREST-INCOME> 8755
<OTHER-INCOME> 0
<EXPENSES-NET> 187532
<NET-INVESTMENT-INCOME> (21069)
<REALIZED-GAINS-CURRENT> 507123
<APPREC-INCREASE-CURRENT> 172733
<NET-CHANGE-FROM-OPS> 658787
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1989673
<NUMBER-OF-SHARES-REDEEMED> (1909575)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 738885
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 70698
<OVERDIST-NET-GAINS-PRIOR> 584588
<GROSS-ADVISORY-FEES> 74124
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 249131
<AVERAGE-NET-ASSETS> 570321
<PER-SHARE-NAV-BEGIN> 9.97<F1>
<PER-SHARE-NII> (.03)<F1>
<PER-SHARE-GAIN-APPREC> .46<F1>
<PER-SHARE-DIVIDEND> 0<F1>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 10.40<F1>
<EXPENSE-RATIO> 2.29<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A Shares
</FN>
</TABLE>
