OPERATIONAL SUPPORT SERVICES AGREEMENT HSBC Investor Funds 3435 Stelzer Road Columbus, Ohio 43219

1.

The Adviser agrees to provide the following operational support services to the Funds:

(i)

manage and coordinate the Funds’ operations, including the development of new product features and benefits;

(ii)

compile statistical and research data required for the preparation of reports and statements which are periodically distributed to the Funds’ officers and Trustees;

(iii)

handle general inquiries from account representatives, such as advice as to the status of shareholder accounts, the current yield and dividends declared to date and provide assistance with other questions related to shareholder accounts;

(iv)

provide support to account representatives regarding Fund benefits and features;

(v)

provide operational assistance to account representatives regarding opening new accounts, closing accounts and making changes to the set-up of existing accounts;

(vi)

provide marketing and promotional support to the account representatives, including the development, production and distribution of materials that promote the Funds, their features and benefits;

(vii)

assist in the development and ongoing operation of “sweep” accounts utilizing the Funds;

(viii)

compile information required in connection with the Funds’ filings with the Securities and Exchange Commission; and

(ix)

provide such other services as agreed upon by both parities.

2.

For its services, the Adviser shall be entitled to a fee (the “Operational Support Fee”) from each Fund’s Class A, Class B, Class C, Class D and Class Y shares, computed daily and paid monthly, equal on an annual basis to the percentage of each Fund’s average daily net assets set forth on Schedule A, as in effect from time to time. The Adviser, in its sole discretion, may waive all or any part the Operational Support Fee for any class of shares of a Fund.

3.

This Agreement shall remain in full force and effect through December 31, 2009, and thereafter from year to year to the extent continuance is approved annually by the Board of Trustees of the Trust.

4.

This Agreement may be amended or modified from time to time by both parties in writing.

5.

This Agreement may be terminated by the Trust at any time on sixty (60) days’ written notice without payment of penalty, provided that such termination by the Trust shall be directed or approved by the vote of a majority of the Trustees of the Trust in office at the time or by the vote of a majority of the outstanding voting securities of the Trust as defined by the Investment Company Act of 1940 Act (“1940 Act”); and shall automatically and immediately terminate in the event of its assignment as defined by the 1940 Act.

6.

In the absence of willful misfeasance, bad faith or gross negligence on the part of the Adviser, or of reckless disregard of its duties and obligations hereunder, the Adviser shall not be subject to liability for any act or omission in the course of, or connected with, rendering services hereunder.

HSBC INVESTOR FUNDS

By:

/s/ ▇▇▇▇ ▇▇▇▇▇▇▇

Name: ▇▇▇▇ ▇▇▇▇▇▇▇

Title: Vice President

HSBC GLOBAL ASSET MANAGEMENT (USA) INC.

By:

/s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇

Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇

Title: Senior Vice President

Fund

Operational Support Fee

Money Market Fund

0.10%

U.S. Government Money Market Fund

0.10%

U.S. Treasury Money Market Fund

0.10%

New York Tax-Free Money Market Fund

0.05%

Cash Management Fund

0.10%

California Tax-Free Money Market Fund

0.10%

Tax-Free Money Market Fund

0.10%