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          <isin value="BMG2519Y1084"/>
          <ticker value="BAP"/>
        </identifiers>
        <balance>617</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>70757.56</valUSD>
        <pctVal>0.9604350516</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bancolombia S.A.</name>
        <lei>54930052NWJRPNMP1W58</lei>
        <title>Bancolombia S.A. SPON ADS EACH REP 4 PRF SHS</title>
        <cusip>05968L102</cusip>
        <identifiers>
          <isin value="US05968L1026"/>
          <ticker value="CIB"/>
        </identifiers>
        <balance>1139</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>29033.11</valUSD>
        <pctVal>0.3940839184</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GPO Fin Banorte</name>
        <lei>N/A</lei>
        <title>GPO Fin Banorte COM NPV SERIES O</title>
        <cusip>P49501201</cusip>
        <identifiers>
          <isin value="MXP370711014"/>
          <ticker value="GBOOF"/>
        </identifiers>
        <balance>11500</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="21.2115"/>
        <valUSD>51234</valUSD>
        <pctVal>0.6954299927</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ultrapar Participacoes S.A.</name>
        <lei>529900FU4XBXGQMLRE72</lei>
        <title>Ultrapar Participacoes S.A. SPON ADR (EACH REP ONE COM NPV) LVLIII</title>
        <cusip>90400P101</cusip>
        <identifiers>
          <isin value="US90400P1012"/>
          <ticker value="UGP"/>
        </identifiers>
        <balance>11420</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>32432.8</valUSD>
        <pctVal>0.4402299619</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Alicorp SAA</name>
        <lei>549300Z1XH47TTIIJS11</lei>
        <title>Alicorp SAA PEN1</title>
        <cusip>P0161K103</cusip>
        <identifiers>
          <isin value="PEP214001005"/>
          <ticker value="ALICORC1"/>
        </identifiers>
        <balance>9214</balance>
        <units>NS</units>
        <currencyConditional curCd="PEN" exchangeRt="3.6155"/>
        <valUSD>17839.3</valUSD>
        <pctVal>0.2421435818</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fomento Econ Mexic</name>
        <lei>549300A8MDWDJNMLV153</lei>
        <title>Fomento Econ Mexic SPON ADR RP 10 UTS(1B&amp;2D-B&amp;2'D-L</title>
        <cusip>344419106</cusip>
        <identifiers>
          <isin value="US3444191064"/>
          <ticker value="FMX"/>
        </identifiers>
        <balance>2705</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>145447.85</valUSD>
        <pctVal>1.9742514202</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ICICI Bank Limited</name>
        <lei>R7RX8ER1V4666J8D1I38</lei>
        <title>ICICI Bank Limited SPON ADR EACH REPR 2 ORD SHS</title>
        <cusip>45104G104</cusip>
        <identifiers>
          <isin value="US45104G1040"/>
          <ticker value="IBN"/>
        </identifiers>
        <balance>4150</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>43782.5</valUSD>
        <pctVal>0.5942862875</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Netease Inc</name>
        <lei>5299004AF4DSJDB0PA32</lei>
        <title>Netease Inc SPON ADS EACH REP 25 ORD SHS</title>
        <cusip>64110W102</cusip>
        <identifiers>
          <isin value="US64110W1027"/>
          <ticker value="NTES"/>
        </identifiers>
        <balance>1395</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>121072.05</valUSD>
        <pctVal>1.6433839803</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Mobile Limited</name>
        <lei>529900U2JJ7GK68NI589</lei>
        <title>China Mobile Limited SPON ADR REP 5 ORD HKD0.10</title>
        <cusip>16941M109</cusip>
        <identifiers>
          <isin value="US16941M1099"/>
          <ticker value="CHL"/>
        </identifiers>
        <balance>2034</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>62504.82</valUSD>
        <pctVal>0.8484156325</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GPO Aeroportuario</name>
        <lei>5299001W7JIDXCUOUC82</lei>
        <title>GPO Aeroportuario ADS EACH REPR 10 SER'B' SHS NPV</title>
        <cusip>40051E202</cusip>
        <identifiers>
          <isin value="US40051E2028"/>
          <ticker value="ASR"/>
        </identifiers>
        <balance>448</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>51676.8</valUSD>
        <pctVal>0.7014403842</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HDFC Bank Ltd</name>
        <lei>335800ZQ6I4E2JXENC50</lei>
        <title>HDFC Bank Ltd SPON ADS EACH REP 3 ORD SHS</title>
        <cusip>40415F101</cusip>
        <identifiers>
          <isin value="US40415F1012"/>
          <ticker value="HDB"/>
        </identifiers>
        <balance>2433</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>139751.52</valUSD>
        <pctVal>1.8969316963</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Banco Santander-Chile</name>
        <lei>3YJP8HORPAEXJ80D6368</lei>
        <title>Banco Santander-Chile ADR-EACH REPR 400 COM NPV</title>
        <cusip>05965X109</cusip>
        <identifiers>
          <isin value="US05965X1090"/>
          <ticker value="BSAC"/>
        </identifiers>
        <balance>4331</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>60114.28</valUSD>
        <pctVal>0.8159673908</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Safaricom Public Limited Company</name>
        <lei>N/A</lei>
        <title>Safaricom Public Limited Company KES0.05</title>
        <cusip>V74587102</cusip>
        <identifiers>
          <isin value="KE1000001402"/>
          <ticker value="SCOM"/>
        </identifiers>
        <balance>62300</balance>
        <units>NS</units>
        <currencyConditional curCd="KES" exchangeRt="108.8"/>
        <valUSD>17660.73</valUSD>
        <pctVal>0.2397197434</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JS Comm Bank Forei</name>
        <lei>2549004TS5QUBFGAWE51</lei>
        <title>JS Comm Bank Forei VND10000</title>
        <cusip>Y444A7106</cusip>
        <identifiers>
          <isin value="VN000000VCB4"/>
          <ticker value="VCB"/>
        </identifiers>
        <balance>15240</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="23182.5"/>
        <valUSD>54592.54</valUSD>
        <pctVal>0.7410174824</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>VN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ping An Insurance (Group) Company of China Ltd.</name>
        <lei>529900M9MC28JLN35U89</lei>
        <title>Ping An Insurance (Group) Company of China Ltd. 'A'CNY1</title>
        <cusip>Y69790114</cusip>
        <identifiers>
          <isin value="CNE000001R84"/>
          <ticker value="601318"/>
        </identifiers>
        <balance>11100</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.69645"/>
        <valUSD>129584.44</valUSD>
        <pctVal>1.7589277855</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Merchants Bank Co., Ltd.</name>
        <lei>549300MKO5B60FFIHF58</lei>
        <title>China Merchants Bank Co., Ltd. 'A'CNY1</title>
        <cusip>Y14896107</cusip>
        <identifiers>
          <isin value="CNE000001B33"/>
          <ticker value="600036"/>
        </identifiers>
        <balance>12200</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.69645"/>
        <valUSD>72696.04</valUSD>
        <pctVal>0.9867472101</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Jiangsu Yanghe Bre</name>
        <lei>N/A</lei>
        <title>Jiangsu Yanghe Bre 'A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE100000HB8"/>
          <ticker value="002304"/>
        </identifiers>
        <balance>2200</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.69645"/>
        <valUSD>55369.94</valUSD>
        <pctVal>0.7515696016</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SUOFEIYA HOME COLLECTION CO LTD</name>
        <lei>N/A</lei>
        <title>SUOFEIYA HOME COLLECTION CO LTD 'A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE100001203"/>
          <ticker value="002572"/>
        </identifiers>
        <balance>13700</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.69645"/>
        <valUSD>57996.15</valUSD>
        <pctVal>0.7872167344</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Tower Corp Ltd</name>
        <lei>N/A</lei>
        <title>China Tower Corp Ltd CNY1 H</title>
        <cusip>Y15076105</cusip>
        <identifiers>
          <isin value="CNE100003688"/>
          <ticker value="CHWRF"/>
        </identifiers>
        <balance>444000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7525"/>
        <valUSD>69331.37</valUSD>
        <pctVal>0.9410765143</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Helios Towers Plc</name>
        <lei>213800DGC7GS4XCHCU30</lei>
        <title>Helios Towers Plc ORD GBP0.01</title>
        <cusip>G4431S102</cusip>
        <identifiers>
          <isin value="GB00BJVQC708"/>
          <ticker value="HTWSF"/>
        </identifiers>
        <balance>8087</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".7719027"/>
        <valUSD>16898.63</valUSD>
        <pctVal>0.2293753003</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Banco Bradesco S.A.</name>
        <lei>549300CTUU1RFXHQJE44</lei>
        <title>Banco Bradesco S.A. SPONS ADR EACH REPR 1 PRF NPV</title>
        <cusip>059460303</cusip>
        <identifiers>
          <isin value="US0594603039"/>
          <ticker value="BBD"/>
        </identifiers>
        <balance>19936</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>69776</valUSD>
        <pctVal>0.9471117455</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>51job Inc</name>
        <lei>52990088ZF32Q8YHCJ53</lei>
        <title>51job Inc SPON ADS EACH REP 1 ORD SHS</title>
        <cusip>316827104</cusip>
        <identifiers>
          <isin value="US3168271043"/>
          <ticker value="JOBS"/>
        </identifiers>
        <balance>249</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17454.9</valUSD>
        <pctVal>0.2369258887</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mabanee Co</name>
        <lei>N/A</lei>
        <title>Mabanee Co KWD0.1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KW0EQ0400725"/>
          <ticker value="MABANEE"/>
        </identifiers>
        <balance>9375</balance>
        <units>NS</units>
        <currencyConditional curCd="KWD" exchangeRt=".3058"/>
        <valUSD>19863.6</valUSD>
        <pctVal>0.2696206270</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kotak Mahindra Bank Ltd.</name>
        <lei>335800E6GTTXKHXE2I75</lei>
        <title>Kotak Mahindra Bank Ltd. INR5</title>
        <cusip>Y4964H150</cusip>
        <identifiers>
          <isin value="INE237A01028"/>
          <ticker value="KOTAKBANK"/>
        </identifiers>
        <balance>1950</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="74.1075"/>
        <valUSD>40698.28</valUSD>
        <pctVal>0.5524223087</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AAC Technologies Holdings Inc.</name>
        <lei>549300SKEDE1VKS0A552</lei>
        <title>AAC Technologies Holdings Inc. USD0.01</title>
        <cusip>G2953R114</cusip>
        <identifiers>
          <isin value="KYG2953R1149"/>
          <ticker value="AACAF"/>
        </identifiers>
        <balance>7000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7525"/>
        <valUSD>36790.12</valUSD>
        <pctVal>0.4993744951</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Komercni Banka AS</name>
        <lei>IYKCAVNFR8QGF00HV840</lei>
        <title>Komercni Banka AS ORD CZK100</title>
        <cusip>X45471111</cusip>
        <identifiers>
          <isin value="CZ0008019106"/>
          <ticker value="KMERF"/>
        </identifiers>
        <balance>2407</balance>
        <units>NS</units>
        <currencyConditional curCd="CZK" exchangeRt="23.3963"/>
        <valUSD>48807.22</valUSD>
        <pctVal>0.6624898436</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CZ</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Copa Holdings Sa</name>
        <lei>529900BB9UQJV6QQHA59</lei>
        <title>Copa Holdings Sa NPV CLASS 'A'</title>
        <cusip>P31076105</cusip>
        <identifiers>
          <isin value="PAP310761054"/>
          <ticker value="CPA"/>
        </identifiers>
        <balance>840</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>41395.2</valUSD>
        <pctVal>0.5618820243</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sberbank of Russia</name>
        <lei>549300WE6TAF5EEWQS81</lei>
        <title>Sberbank of Russia SPON ADR EACH REPR 4 ORD SHS</title>
        <cusip>80585Y308</cusip>
        <identifiers>
          <isin value="US80585Y3080"/>
          <ticker value="SBRCY"/>
        </identifiers>
        <balance>7465</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>75436.54</valUSD>
        <pctVal>1.0239456701</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>RU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Asian Paints Ltd</name>
        <lei>335800HEHXGYRUNERD75</lei>
        <title>Asian Paints Ltd INR1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE021A01026"/>
          <ticker value="ASIANPAINT"/>
        </identifiers>
        <balance>2810</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="74.1075"/>
        <valUSD>83975.66</valUSD>
        <pctVal>1.1398522977</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Commercial Intl Bk</name>
        <lei>213800FIIXJAMEVRIH48</lei>
        <title>Commercial Intl Bk GDR EACH REPR 1 ORD EGP10 REG'S'</title>
        <cusip>201712205</cusip>
        <identifiers>
          <isin value="US2017122050"/>
          <ticker value="CMGGF"/>
        </identifiers>
        <balance>11703</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>45250.05</valUSD>
        <pctVal>0.6142062291</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>EG</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ING Bank Slaski SA</name>
        <lei>259400YLRTOBISHBVX41</lei>
        <title>ING Bank Slaski SA PLN1.00</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="PLBSK0000017"/>
          <ticker value="ING"/>
        </identifiers>
        <balance>505</balance>
        <units>NS</units>
        <currencyConditional curCd="PLN" exchangeRt="3.9586"/>
        <valUSD>13091.92</valUSD>
        <pctVal>0.1777045288</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BCA Transilvania</name>
        <lei>549300RG3H390KEL8896</lei>
        <title>BCA Transilvania RON1.00</title>
        <cusip>X0308Q105</cusip>
        <identifiers>
          <isin value="ROTLVAACNOR1"/>
          <ticker value="TLV"/>
        </identifiers>
        <balance>35213</balance>
        <units>NS</units>
        <currencyConditional curCd="RON" exchangeRt="4.1743"/>
        <valUSD>15946.47</valUSD>
        <pctVal>0.2164510582</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>RO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BIM Birlesik Magaz</name>
        <lei>N/A</lei>
        <title>BIM Birlesik Magaz TRY1</title>
        <cusip>M2014F102</cusip>
        <identifiers>
          <isin value="TREBIMM00018"/>
          <ticker value="BMBRF"/>
        </identifiers>
        <balance>11148</balance>
        <units>NS</units>
        <currencyConditional curCd="TRY" exchangeRt="8.3795"/>
        <valUSD>88948.68</valUSD>
        <pctVal>1.2073540985</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WEG Sa</name>
        <lei>N/A</lei>
        <title>WEG Sa COM STK NPV</title>
        <cusip>P9832B129</cusip>
        <identifiers>
          <isin value="BRWEGEACNOR0"/>
          <ticker value="WEGE3"/>
        </identifiers>
        <balance>3600</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="5.73795"/>
        <valUSD>47575.88</valUSD>
        <pctVal>0.6457761229</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New Oriental Education and Technology Group Inc</name>
        <lei>529900NHZVBZQZ8EKN29</lei>
        <title>New Oriental Education and Technology Group Inc SPON ADS EA REP 1 ORD SHS</title>
        <cusip>647581107</cusip>
        <identifiers>
          <isin value="US6475811070"/>
          <ticker value="EDU"/>
        </identifiers>
        <balance>261</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>41859.18</valUSD>
        <pctVal>0.5681799048</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nestle Nigeria Plc</name>
        <lei>0292002173F4KD5E5347</lei>
        <title>Nestle Nigeria Plc NGN0.50</title>
        <cusip>V6702N103</cusip>
        <identifiers>
          <isin value="NGNESTLE0006"/>
          <ticker value="NESTLE"/>
        </identifiers>
        <balance>5120</balance>
        <units>NS</units>
        <currencyConditional curCd="NGN" exchangeRt="386.33"/>
        <valUSD>18841.67</valUSD>
        <pctVal>0.2557493545</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Grupo Nutresa Sa</name>
        <lei>549300TN5BQ4P1MC6407</lei>
        <title>Grupo Nutresa Sa COP5</title>
        <cusip>P5041C114</cusip>
        <identifiers>
          <isin value="COT04PA00028"/>
          <ticker value="NUTRESA"/>
        </identifiers>
        <balance>3657</balance>
        <units>NS</units>
        <currencyConditional curCd="COP" exchangeRt="3870.35"/>
        <valUSD>20163.65</valUSD>
        <pctVal>0.2736933867</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Societatea National De Gaze N Romgaz Sa</name>
        <lei>2549009R7KJ38D9RW354</lei>
        <title>Societatea National De Gaze N Romgaz Sa RON1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="ROSNGNACNOR3"/>
          <ticker value="SNG"/>
        </identifiers>
        <balance>2060</balance>
        <units>NS</units>
        <currencyConditional curCd="RON" exchangeRt="4.1743"/>
        <valUSD>12724.1</valUSD>
        <pctVal>0.1727118860</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>RO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wal-Mart De Mexico</name>
        <lei>N/A</lei>
        <title>Wal-Mart De Mexico COM NPV</title>
        <cusip>P98180188</cusip>
        <identifiers>
          <isin value="MX01WA000038"/>
          <ticker value="WMMVF"/>
        </identifiers>
        <balance>57000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="21.2115"/>
        <valUSD>137720.1</valUSD>
        <pctVal>1.8693580071</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shenzhen Inovance</name>
        <lei>N/A</lei>
        <title>Shenzhen Inovance 'A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE100000V46"/>
          <ticker value="300124"/>
        </identifiers>
        <balance>7600</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.69645"/>
        <valUSD>72900.59</valUSD>
        <pctVal>0.9895236907</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WILCON DEPOT INC</name>
        <lei>N/A</lei>
        <title>WILCON DEPOT INC PHP1</title>
        <cusip>Y9584X105</cusip>
        <identifiers>
          <isin value="PHY9584X1055"/>
          <ticker value="WLCON"/>
        </identifiers>
        <balance>56500</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="48.4"/>
        <valUSD>16695.37</valUSD>
        <pctVal>0.2266163297</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S.F. Holding Co Ltd</name>
        <lei>N/A</lei>
        <title>S.F. Holding Co Ltd 'A'CNY1</title>
        <cusip>Y5349E101</cusip>
        <identifiers>
          <isin value="CNE100000L63"/>
          <ticker value="002352"/>
        </identifiers>
        <balance>5900</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.69645"/>
        <valUSD>73164.6</valUSD>
        <pctVal>0.9931072577</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank of the Philippine Islands</name>
        <lei>549300UW4UH6XT2X8C50</lei>
        <title>Bank of the Philippine Islands PHP10</title>
        <cusip>Y0967S169</cusip>
        <identifiers>
          <isin value="PHY0967S1694"/>
          <ticker value="BPHLF"/>
        </identifiers>
        <balance>26900</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="48.4"/>
        <valUSD>40881.92</valUSD>
        <pctVal>0.5549149652</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bumrungrad Hospital P</name>
        <lei>N/A</lei>
        <title>Bumrungrad Hospital P THB1(ALIEN MKT)</title>
        <cusip>Y1002E256</cusip>
        <identifiers>
          <isin value="TH0168A10Z19"/>
          <ticker value="BUHPF"/>
        </identifiers>
        <balance>10600</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="31.1675"/>
        <valUSD>30948.91</valUSD>
        <pctVal>0.4200882276</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shenzhou International Group Holdings Ltd.</name>
        <lei>529900B4W41TCUKJFM73</lei>
        <title>Shenzhou International Group Holdings Ltd. HKD0.10</title>
        <cusip>G8087W101</cusip>
        <identifiers>
          <isin value="KYG8087W1015"/>
          <ticker value="SZHIF"/>
        </identifiers>
        <balance>3000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7525"/>
        <valUSD>51843.68</valUSD>
        <pctVal>0.7037055471</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sino Biophamaceuti</name>
        <lei>529900LPR4ADFEJAR786</lei>
        <title>Sino Biophamaceuti HKD0.025</title>
        <cusip>G8167W138</cusip>
        <identifiers>
          <isin value="KYG8167W1380"/>
          <ticker value="SBMFF"/>
        </identifiers>
        <balance>45000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7525"/>
        <valUSD>45414.01</valUSD>
        <pctVal>0.6164317571</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cspc Pharmaceutical Group Limited</name>
        <lei>529900M3XQCW234H8O91</lei>
        <title>Cspc Pharmaceutical Group Limited NPV</title>
        <cusip>Y1837N109</cusip>
        <identifiers>
          <isin value="HK1093012172"/>
          <ticker value="CHJTF"/>
        </identifiers>
        <balance>46080</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7525"/>
        <valUSD>48581.1</valUSD>
        <pctVal>0.6594205804</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Tourism Group Duty Free Corp</name>
        <lei>N/A</lei>
        <title>China Tourism Group Duty Free Corp 'A'CNY1</title>
        <cusip>Y149A3100</cusip>
        <identifiers>
          <isin value="CNE100000G29"/>
          <ticker value="601888"/>
        </identifiers>
        <balance>1700</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.69645"/>
        <valUSD>50417.51</valUSD>
        <pctVal>0.6843472813</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hangzhou Hikvision Digital Technology Co., Ltd.</name>
        <lei>3003000T24CMHQ382Y71</lei>
        <title>Hangzhou Hikvision Digital Technology Co., Ltd. 'A'CNY1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE100000PM8"/>
          <ticker value="002415"/>
        </identifiers>
        <balance>10500</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.69645"/>
        <valUSD>70536.18</valUSD>
        <pctVal>0.9574301273</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>B3 S.A. - Brasil, Bolsa, Balcao</name>
        <lei>4GTK5S46E6H318LMDS44</lei>
        <title>B3 S.A. - Brasil, Bolsa, Balcao COM NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BRB3SAACNOR6"/>
          <ticker value="B3SA3"/>
        </identifiers>
        <balance>3300</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="5.73795"/>
        <valUSD>29359.79</valUSD>
        <pctVal>0.3985181431</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CIA BRASILEIRA DISTR(PAO DE ACUCAR)</name>
        <lei>5299003V5B6KLICZCC14</lei>
        <title>CIA BRASILEIRA DISTR(PAO DE ACUCAR) SPON ADR EACH REPR 1 COM STK</title>
        <cusip>20440T300</cusip>
        <identifiers>
          <isin value="US20440T3005"/>
          <ticker value="CBD"/>
        </identifiers>
        <balance>8181</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>88027.56</valUSD>
        <pctVal>1.1948511810</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Jarir Marketing Company</name>
        <lei>N/A</lei>
        <title>Jarir Marketing Company SAR10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SA000A0BLA62"/>
          <ticker value="JARIR"/>
        </identifiers>
        <balance>1292</balance>
        <units>NS</units>
        <currencyConditional curCd="SAR" exchangeRt="3.7503"/>
        <valUSD>59663.27</valUSD>
        <pctVal>0.8098455600</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Alibaba Group Holding Ltd</name>
        <lei>5493001NTNQJDH60PM02</lei>
        <title>Alibaba Group Holding Ltd SPON ADS EACH REP 8 ORD SHS</title>
        <cusip>01609W102</cusip>
        <identifiers>
          <isin value="US01609W1027"/>
          <ticker value="BABA"/>
        </identifiers>
        <balance>502</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>152954.38</valUSD>
        <pctVal>2.0761420807</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Jiangsu Hengrui Me</name>
        <lei>N/A</lei>
        <title>Jiangsu Hengrui Me 'A'CNY1</title>
        <cusip>Y4446S105</cusip>
        <identifiers>
          <isin value="CNE0000014W7"/>
          <ticker value="600276"/>
        </identifiers>
        <balance>5400</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.69645"/>
        <valUSD>71898.11</valUSD>
        <pctVal>0.9759164248</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bupa Arabia For Co</name>
        <lei>558600B2WJHD5P31XS68</lei>
        <title>Bupa Arabia For Co SAR10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SA1210540914"/>
          <ticker value="BUPA"/>
        </identifiers>
        <balance>1690</balance>
        <units>NS</units>
        <currencyConditional curCd="SAR" exchangeRt="3.7503"/>
        <valUSD>51646.81</valUSD>
        <pctVal>0.7010333119</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fuyao Glass Industry Group Co.,Ltd</name>
        <lei>549300AS5CSLWETN0P64</lei>
        <title>Fuyao Glass Industry Group Co.,Ltd 'H' CNY1</title>
        <cusip>Y2680G100</cusip>
        <identifiers>
          <isin value="CNE100001TR7"/>
          <ticker value="3606"/>
        </identifiers>
        <balance>11600</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7525"/>
        <valUSD>49358</valUSD>
        <pctVal>0.6699659128</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Gree Electric Appliances, Inc. Of Zhuhai</name>
        <lei>N/A</lei>
        <title>Gree Electric Appliances, Inc. Of Zhuhai 'A'CNY1</title>
        <cusip>Y9890H109</cusip>
        <identifiers>
          <isin value="CNE0000001D4"/>
          <ticker value="000651"/>
        </identifiers>
        <balance>4700</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="6.69645"/>
        <valUSD>41199.57</valUSD>
        <pctVal>0.5592266203</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Meituan</name>
        <lei>21380033K525E5JLIA77</lei>
        <title>Meituan USD0.00001 (A &amp; B CLASS)</title>
        <cusip>G59669104</cusip>
        <identifiers>
          <isin value="KYG596691041"/>
          <ticker value="MPNGF"/>
        </identifiers>
        <balance>2200</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7525"/>
        <valUSD>82295.16</valUSD>
        <pctVal>1.1170418573</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ambev Sa</name>
        <lei>549300TH5Q6VRP8OT012</lei>
        <title>Ambev Sa SPON ADR EACH REP 1 ORD SHS</title>
        <cusip>02319V103</cusip>
        <identifiers>
          <isin value="US02319V1035"/>
          <ticker value="ABEV"/>
        </identifiers>
        <balance>20505</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>43880.7</valUSD>
        <pctVal>0.5956192154</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tencent Holdings Limited</name>
        <lei>254900N4SLUMW4XUYY11</lei>
        <title>Tencent Holdings Limited HKD0.00002</title>
        <cusip>G87572163</cusip>
        <identifiers>
          <isin value="KYG875721634"/>
          <ticker value="TCTZF"/>
        </identifiers>
        <balance>1900</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7525"/>
        <valUSD>145742.21</valUSD>
        <pctVal>1.9782469460</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JD.com Inc</name>
        <lei>549300HVTWB0GJZ16V92</lei>
        <title>JD.com Inc SPON ADS EACH REPR 2 ORD SHS CLASS A</title>
        <cusip>47215P106</cusip>
        <identifiers>
          <isin value="US47215P1066"/>
          <ticker value="JD"/>
        </identifiers>
        <balance>1651</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>134589.52</valUSD>
        <pctVal>1.8268647560</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Autohome Inc</name>
        <lei>529900NYB6ZGZN3MVT56</lei>
        <title>Autohome Inc SPON ADS EACH REP 1 ORD SHS CL A</title>
        <cusip>05278C107</cusip>
        <identifiers>
          <isin value="US05278C1071"/>
          <ticker value="ATHM"/>
        </identifiers>
        <balance>442</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>42233.1</valUSD>
        <pctVal>0.5732553465</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Robinsons Retail Hldgs Inc</name>
        <lei>N/A</lei>
        <title>Robinsons Retail Hldgs Inc PHP1</title>
        <cusip>Y7318T101</cusip>
        <identifiers>
          <isin value="PHY7318T1017"/>
          <ticker value="RBNTF"/>
        </identifiers>
        <balance>15670</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="48.4"/>
        <valUSD>20719.92</valUSD>
        <pctVal>0.2812439750</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Jiangsu Expressway Company Limited</name>
        <lei>529900UWWTWZ6AKLYD43</lei>
        <title>Jiangsu Expressway Company Limited H SHS CNY1</title>
        <cusip>Y4443L103</cusip>
        <identifiers>
          <isin value="CNE1000003J5"/>
          <ticker value="JEXYF"/>
        </identifiers>
        <balance>50000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7525"/>
        <valUSD>49911.15</valUSD>
        <pctVal>0.6774741515</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Advantech</name>
        <lei>2549002OSTKE9HB9IY03</lei>
        <title>Advantech TWD10</title>
        <cusip>Y0017P108</cusip>
        <identifiers>
          <isin value="TW0002395001"/>
          <ticker value="ADTEF"/>
        </identifiers>
        <balance>5499</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="28.6035"/>
        <valUSD>55655.42</valUSD>
        <pctVal>0.7554445939</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Discovery Limited</name>
        <lei>378900245A26169C8132</lei>
        <title>Discovery Limited ZAR0.001</title>
        <cusip>S2192Y109</cusip>
        <identifiers>
          <isin value="ZAE000022331"/>
          <ticker value="DCYHF"/>
        </identifiers>
        <balance>7600</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="16.27375"/>
        <valUSD>49980.04</valUSD>
        <pctVal>0.6784092371</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Travelsky Technolo</name>
        <lei>5299007TAWP4DZ6QFG73</lei>
        <title>Travelsky Technolo CLS'H' CNY1</title>
        <cusip>Y8972V101</cusip>
        <identifiers>
          <isin value="CNE1000004J3"/>
          <ticker value="TSYHF"/>
        </identifiers>
        <balance>23000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7525"/>
        <valUSD>48414.93</valUSD>
        <pctVal>0.6571650548</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hero Motocorp Limited</name>
        <lei>335800Q49FBMZJTRLK49</lei>
        <title>Hero Motocorp Limited INR2</title>
        <cusip>Y3194B108</cusip>
        <identifiers>
          <isin value="INE158A01026"/>
          <ticker value="HEROMOTOCO"/>
        </identifiers>
        <balance>2039</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="74.1075"/>
        <valUSD>76997.88</valUSD>
        <pctVal>1.0451386799</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LG Household &amp; Health Care Ltd</name>
        <lei>N/A</lei>
        <title>LG Household &amp; Health Care Ltd KRW5000</title>
        <cusip>Y5275R100</cusip>
        <identifiers>
          <isin value="KR7051900009"/>
          <ticker value="LGHHF"/>
        </identifiers>
        <balance>106</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1134.7"/>
        <valUSD>139161.64</valUSD>
        <pctVal>1.8889248992</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Largan Precision C</name>
        <lei>N/A</lei>
        <title>Largan Precision C TWD10</title>
        <cusip>Y52144105</cusip>
        <identifiers>
          <isin value="TW0003008009"/>
          <ticker value="3008"/>
        </identifiers>
        <balance>700</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="28.6035"/>
        <valUSD>74419.69</valUSD>
        <pctVal>1.0101433515</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Coway Co Limited</name>
        <lei>N/A</lei>
        <title>Coway Co Limited KRW500</title>
        <cusip>Y9694W104</cusip>
        <identifiers>
          <isin value="KR7021240007"/>
          <ticker value="A021240"/>
        </identifiers>
        <balance>1760</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1134.7"/>
        <valUSD>108095.13</valUSD>
        <pctVal>1.4672404158</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Naver Corp</name>
        <lei>N/A</lei>
        <title>Naver Corp KRW100</title>
        <cusip>Y62579100</cusip>
        <identifiers>
          <isin value="KR7035420009"/>
          <ticker value="NHNCF"/>
        </identifiers>
        <balance>546</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1134.7"/>
        <valUSD>140750.26</valUSD>
        <pctVal>1.9104881969</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Unilever Indonesia</name>
        <lei>549300MUHUFNRRI19O72</lei>
        <title>Unilever Indonesia IDR2</title>
        <cusip>Y9064H141</cusip>
        <identifiers>
          <isin value="ID1000095706"/>
          <ticker value="UNLRF"/>
        </identifiers>
        <balance>105000</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="14625"/>
        <valUSD>55905.95</valUSD>
        <pctVal>0.7588451887</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dialog Group</name>
        <lei>N/A</lei>
        <title>Dialog Group NPV</title>
        <cusip>Y20641109</cusip>
        <identifiers>
          <isin value="MYL7277OO006"/>
          <ticker value="DLG"/>
        </identifiers>
        <balance>63800</balance>
        <units>NS</units>
        <currencyConditional curCd="MYR" exchangeRt="4.155"/>
        <valUSD>56839.55</valUSD>
        <pctVal>0.7715175048</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tata Consultancy S</name>
        <lei>335800ZJKU9GPQRE2U66</lei>
        <title>Tata Consultancy S INR1</title>
        <cusip>Y85279100</cusip>
        <identifiers>
          <isin value="INE467B01029"/>
          <ticker value="TCS"/>
        </identifiers>
        <balance>3947</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="74.1075"/>
        <valUSD>141853.23</valUSD>
        <pctVal>1.9254594742</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OIL &amp; Gas Developm</name>
        <lei>N/A</lei>
        <title>OIL &amp; Gas Developm PKR10</title>
        <cusip>Y6448X107</cusip>
        <identifiers>
          <isin value="PK0080201012"/>
          <ticker value="OGDC"/>
        </identifiers>
        <balance>27700</balance>
        <units>NS</units>
        <currencyConditional curCd="PKR" exchangeRt="160.2"/>
        <valUSD>16143.81</valUSD>
        <pctVal>0.2191296731</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Amorepacific Corporation</name>
        <lei>N/A</lei>
        <title>Amorepacific Corporation KRW500</title>
        <cusip>Y01258105</cusip>
        <identifiers>
          <isin value="KR7090430000"/>
          <ticker value="AMRPF"/>
        </identifiers>
        <balance>1048</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1134.7"/>
        <valUSD>146523.53</valUSD>
        <pctVal>1.9888522738</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Pidilite Industrie</name>
        <lei>335800APXGEBZ349GN74</lei>
        <title>Pidilite Industrie INR1(POST SUBDIVISION)</title>
        <cusip>Y6977T139</cusip>
        <identifiers>
          <isin value="INE318A01026"/>
          <ticker value="PIDILITIND"/>
        </identifiers>
        <balance>2034</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="74.1075"/>
        <valUSD>43138.63</valUSD>
        <pctVal>0.5855466515</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Eclat Textile Co</name>
        <lei>N/A</lei>
        <title>Eclat Textile Co TWD10</title>
        <cusip>Y2237Y109</cusip>
        <identifiers>
          <isin value="TW0001476000"/>
          <ticker value="1476"/>
        </identifiers>
        <balance>11000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="28.6035"/>
        <valUSD>145825.05</valUSD>
        <pctVal>1.9793713833</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Maroc Telecom</name>
        <lei>254900LH0G1ZIZ78Y462</lei>
        <title>Maroc Telecom MAD6</title>
        <cusip>V5721T117</cusip>
        <identifiers>
          <isin value="MA0000011488"/>
          <ticker value="MAOTF"/>
        </identifiers>
        <balance>1491</balance>
        <units>NS</units>
        <currencyConditional curCd="MAD" exchangeRt="9.2339"/>
        <valUSD>22849.55</valUSD>
        <pctVal>0.3101507278</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Godrej Consumer Pr</name>
        <lei>335800P4GUWLGZFK2D63</lei>
        <title>Godrej Consumer Pr INR1</title>
        <cusip>Y2732X135</cusip>
        <identifiers>
          <isin value="INE102D01028"/>
          <ticker value="GODREJCP"/>
        </identifiers>
        <balance>7970</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="74.1075"/>
        <valUSD>71468.94</valUSD>
        <pctVal>0.9700910415</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vietnam Dairy Prod</name>
        <lei>N/A</lei>
        <title>Vietnam Dairy Prod VND10000</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="VN000000VNM8"/>
          <ticker value="VNM"/>
        </identifiers>
        <balance>11810.36</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="23182.5"/>
        <valUSD>55129.1</valUSD>
        <pctVal>0.7483005350</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>VN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Haitian International Holdings Limited</name>
        <lei>30030093DDRS825TVP62</lei>
        <title>Haitian International Holdings Limited HKD0.10</title>
        <cusip>G4232C108</cusip>
        <identifiers>
          <isin value="KYG4232C1087"/>
          <ticker value="HAIIF"/>
        </identifiers>
        <balance>15000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7525"/>
        <valUSD>37180.4</valUSD>
        <pctVal>0.5046720010</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Krka Dd</name>
        <lei>549300H9RLRTRTLRUZ73</lei>
        <title>Krka Dd NPV</title>
        <cusip>X4571Y100</cusip>
        <identifiers>
          <isin value="SI0031102120"/>
          <ticker value="KRKG"/>
        </identifiers>
        <balance>174</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".858627"/>
        <valUSD>15607.02</valUSD>
        <pctVal>0.2118434985</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hon Hai Precision Industry Co., Ltd.</name>
        <lei>30030004CM3GSZXX7O56</lei>
        <title>Hon Hai Precision Industry Co., Ltd. TWD10</title>
        <cusip>Y36861105</cusip>
        <identifiers>
          <isin value="TW0002317005"/>
          <ticker value="HNHAF"/>
        </identifiers>
        <balance>49000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="28.6035"/>
        <valUSD>132929.43</valUSD>
        <pctVal>1.8043313528</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Max Financial Services Limited</name>
        <lei>N/A</lei>
        <title>Max Financial Services Limited INR2</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE180A01020"/>
          <ticker value="MFSL"/>
        </identifiers>
        <balance>5458</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="74.1075"/>
        <valUSD>43504.44</valUSD>
        <pctVal>0.5905120114</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MCB Bank</name>
        <lei>2549002SIFOER1TFOK04</lei>
        <title>MCB Bank PKRP10</title>
        <cusip>Y61898105</cusip>
        <identifiers>
          <isin value="PK0055601014"/>
          <ticker value="MCB"/>
        </identifiers>
        <balance>17600</balance>
        <units>NS</units>
        <currencyConditional curCd="PKR" exchangeRt="160.2"/>
        <valUSD>18264.08</valUSD>
        <pctVal>0.2479093770</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Security Bank Corporation</name>
        <lei>549300JSVDZIR2CPTP95</lei>
        <title>Security Bank Corporation PHP10</title>
        <cusip>Y7571C100</cusip>
        <identifiers>
          <isin value="PHY7571C1000"/>
          <ticker value="SYBJF"/>
        </identifiers>
        <balance>10700</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="48.4"/>
        <valUSD>21314.89</valUSD>
        <pctVal>0.2893198617</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SM Prime Holdings Inc</name>
        <lei>254900SZK83MIAB8CU32</lei>
        <title>SM Prime Holdings Inc ORD PHP1</title>
        <cusip>Y8076N112</cusip>
        <identifiers>
          <isin value="PHY8076N1120"/>
          <ticker value="SPHXF"/>
        </identifiers>
        <balance>72700</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="48.4"/>
        <valUSD>50625.3</valUSD>
        <pctVal>0.6871677403</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Square Pharma</name>
        <lei>254900R3NU1J5X39Y909</lei>
        <title>Square Pharma BDT10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BD0473SQPH00"/>
          <ticker value="SQURPHARMA"/>
        </identifiers>
        <balance>10331</balance>
        <units>NS</units>
        <currencyConditional curCd="BDT" exchangeRt="84.75"/>
        <valUSD>24192.42</valUSD>
        <pctVal>0.3283783125</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BD</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Taiwan Semiconductor Manufacturing Co., Ltd.</name>
        <lei>549300KB6NK5SBD14S87</lei>
        <title>Taiwan Semiconductor Manufacturing Co., Ltd. TWD10</title>
        <cusip>Y84629107</cusip>
        <identifiers>
          <isin value="TW0002330008"/>
          <ticker value="2330"/>
        </identifiers>
        <balance>10000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="28.6035"/>
        <valUSD>150920.07</valUSD>
        <pctVal>2.0485291637</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Siam Commercial Bank Public Company Limited</name>
        <lei>54930068OELHUBHH1U03</lei>
        <title>Siam Commercial Bank Public Company Limited THB10 (ALIEN MARKET)</title>
        <cusip>Y7905M113</cusip>
        <identifiers>
          <isin value="TH0015010018"/>
          <ticker value="SMCBF"/>
        </identifiers>
        <balance>32000</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="31.1675"/>
        <valUSD>66736.18</valUSD>
        <pctVal>0.9058504346</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Universal Robina</name>
        <lei>N/A</lei>
        <title>Universal Robina PHP1</title>
        <cusip>Y9297P100</cusip>
        <identifiers>
          <isin value="PHY9297P1004"/>
          <ticker value="UVRBF"/>
        </identifiers>
        <balance>15950</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="48.4"/>
        <valUSD>45377.59</valUSD>
        <pctVal>0.6159374064</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Guaranty Trust Ban</name>
        <lei>0292001868F6N5VI5G15</lei>
        <title>Guaranty Trust Ban NGN0.50</title>
        <cusip>V41619103</cusip>
        <identifiers>
          <isin value="NGGUARANTY06"/>
          <ticker value="GUARANTY"/>
        </identifiers>
        <balance>261863</balance>
        <units>NS</units>
        <currencyConditional curCd="NGN" exchangeRt="386.33"/>
        <valUSD>22029.61</valUSD>
        <pctVal>0.2990211875</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Housing Development Finance Corporation Ltd</name>
        <lei>335800OX2H9AP7NHLT64</lei>
        <title>Housing Development Finance Corporation Ltd INR2</title>
        <cusip>Y37246207</cusip>
        <identifiers>
          <isin value="INE001A01036"/>
          <ticker value="HDFC"/>
        </identifiers>
        <balance>1478</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="74.1075"/>
        <valUSD>38336.77</valUSD>
        <pctVal>0.5203681087</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Raia Drogasil Sa</name>
        <lei>N/A</lei>
        <title>Raia Drogasil Sa COM NPV</title>
        <cusip>P7942C102</cusip>
        <identifiers>
          <isin value="BRRADLACNOR0"/>
          <ticker value="RADL3"/>
        </identifiers>
        <balance>8000</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="5.73795"/>
        <valUSD>33545.08</valUSD>
        <pctVal>0.4553276094</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zenith Bank Plc</name>
        <lei>029200268F8M5YI5I629</lei>
        <title>Zenith Bank Plc NGN0.50</title>
        <cusip>V9T871109</cusip>
        <identifiers>
          <isin value="NGZENITHBNK9"/>
          <ticker value="ZENITHBANK"/>
        </identifiers>
        <balance>414394</balance>
        <units>NS</units>
        <currencyConditional curCd="NGN" exchangeRt="386.33"/>
        <valUSD>23705.85</valUSD>
        <pctVal>0.3217738043</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Grameenphone Ltd</name>
        <lei>N/A</lei>
        <title>Grameenphone Ltd BDT10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BD0001GP0004"/>
          <ticker value="GP"/>
        </identifiers>
        <balance>5493</balance>
        <units>NS</units>
        <currencyConditional curCd="BDT" exchangeRt="84.75"/>
        <valUSD>21377.31</valUSD>
        <pctVal>0.2901671261</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BD</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Silergy Corporation</name>
        <lei>N/A</lei>
        <title>Silergy Corporation TWD10</title>
        <cusip>G8190F102</cusip>
        <identifiers>
          <isin value="KYG8190F1028"/>
          <ticker value="SLRGF"/>
        </identifiers>
        <balance>1100</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="28.6035"/>
        <valUSD>67910.22</valUSD>
        <pctVal>0.9217863879</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Northern Inst Fds</name>
        <lei>549300Y178DO5JBR1S04</lei>
        <title>Northern Inst Fds TREAS PRT PRMR</title>
        <cusip>665279873</cusip>
        <identifiers>
          <isin value="US6652798736"/>
          <ticker value="NTPXX"/>
        </identifiers>
        <balance>79261.64</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>79261.64</valUSD>
        <pctVal>1.0758660601</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Clicks Group Ltd</name>
        <lei>378900E967958A677472</lei>
        <title>Clicks Group Ltd ZAR0.01</title>
        <cusip>S17249111</cusip>
        <identifiers>
          <isin value="ZAE000134854"/>
          <ticker value="CLS"/>
        </identifiers>
        <balance>7577</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="16.27375"/>
        <valUSD>109956.68</valUSD>
        <pctVal>1.4925083571</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ENN Energy Holdings Limited</name>
        <lei>549300V7BXPWT6WIPR03</lei>
        <title>ENN Energy Holdings Limited HKD0.10</title>
        <cusip>G3066L101</cusip>
        <identifiers>
          <isin value="KYG3066L1014"/>
          <ticker value="XNGSF"/>
        </identifiers>
        <balance>9000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7525"/>
        <valUSD>114051.7</valUSD>
        <pctVal>1.5480925342</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Emaar Properties</name>
        <lei>N/A</lei>
        <title>Emaar Properties AED1</title>
        <cusip>M4025S107</cusip>
        <identifiers>
          <isin value="AEE000301011"/>
          <ticker value="EMAAR"/>
        </identifiers>
        <balance>53031</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67315"/>
        <valUSD>38413.71</valUSD>
        <pctVal>0.5214124617</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank Rakyat Indonesia (Persero) Tbk</name>
        <lei>254900HB6S4B12GBNP64</lei>
        <title>Bank Rakyat Indonesia (Persero) Tbk IDR50</title>
        <cusip>Y0697U112</cusip>
        <identifiers>
          <isin value="ID1000118201"/>
          <ticker value="BKRKF"/>
        </identifiers>
        <balance>152000</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="14625"/>
        <valUSD>34436.78</valUSD>
        <pctVal>0.4674311915</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Astra International Tbk Pt</name>
        <lei>529900L49TRJOMG4DK47</lei>
        <title>Astra International Tbk Pt IDR50</title>
        <cusip>Y7117N172</cusip>
        <identifiers>
          <isin value="ID1000122807"/>
          <ticker value="PTAIF"/>
        </identifiers>
        <balance>59300</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="14625"/>
        <valUSD>21916.11</valUSD>
        <pctVal>0.2974805835</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2020-11-16</ncom:dateSigned>
      <ncom:nameOfApplicant>HARDING LOEVNER FUNDS INC</ncom:nameOfApplicant>
      <ncom:signature>Tracy L. Dotolo</ncom:signature>
      <ncom:signerName>Tracy L. Dotolo</ncom:signerName>
      <ncom:title>Chief Financial Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
