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        <name>Heathrow Funding Ltd</name>
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        <name>UBS GROUP AG</name>
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        <name>HSBC Holdings PLC</name>
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        <name>Orange SA</name>
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        <name>BPCE SA</name>
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        <name>BNP PARIBAS</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>JPMorgan Chase &amp; Co</name>
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        <fairValLevel>2</fairValLevel>
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        <name>VOLKSWAGEN INTL FIN NV</name>
        <lei>5299004PWNHKYTR23649</lei>
        <title>Volkswagen International Finance NV</title>
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        <name>NATWEST MARKETS PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>JPMorgan Chase &amp; Co</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
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        <name>ANHEUSER-BUSCH INBEV SA/</name>
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        <title>Anheuser-Busch InBev SA/NV</title>
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        <name>UNIBAIL-RODAMCO-WESTFLD</name>
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        <name>SIEMENS FINANCIERINGSMAT</name>
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        <title>Siemens Financieringsmaatschappij NV</title>
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        <name>State Street Global Advisors</name>
        <lei>549300BZ5TGIFZUZDZ37</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Citigroup Inc</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup Inc</title>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Danone SA</name>
        <lei>969500KMUQ2B6CBAF162</lei>
        <title>Danone SA</title>
        <cusip>000000000</cusip>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>LLOYDS BANKING GROUP PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>IBERDROLA FINANZAS SAU</name>
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        <fairValLevel>2</fairValLevel>
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        <name>THERMO FISHER SC FNCE I</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>ELI LILLY &amp; CO</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-11-01</maturityDt>
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        <name>UNIBAIL-RODAMCO-WESTFLD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ANHEUSER-BUSCH INBEV SA/</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AT&amp;T Inc</name>
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        <name>Booking Holdings Inc</name>
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        <name>WINTERSHALL DEA FINANCE</name>
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        <title>Wintershall Dea Finance BV</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley</name>
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        <name>ING Groep NV</name>
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        <name>Morgan Stanley</name>
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        <name>BP Capital Markets PLC</name>
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        <name>CAIXABANK SA</name>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>ING GROEP NV</name>
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        <name>Eni SpA</name>
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        <name>ANHEUSER-BUSCH INBEV SA/</name>
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        <name>CREDIT SUISSE GROUP AG</name>
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        <name>UBS GROUP AG</name>
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        <name>AUTOROUTES DU SUD DE LA</name>
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        <title>Autoroutes du Sud de la France SA</title>
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        <name>BNP PARIBAS</name>
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        <name>TOYOTA MOTOR FINANCE BV</name>
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        <name>ENEL FINANCE INTL NV</name>
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        <name>SOCIETE GENERALE</name>
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        <name>CREDIT AGRICOLE LONDON</name>
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        <name>Bayer Capital Corp BV</name>
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        <name>Apple Inc</name>
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        <name>Amgen Inc</name>
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        <name>MERCEDES-BENZ GROUP AG</name>
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        <name>Wellcome Trust Ltd/The</name>
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        <name>MET LIFE GLOB FUNDING I</name>
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        <name>Capgemini SE</name>
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        <name>RICHEMONT INTERNATIONAL</name>
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        <invCountry>LU</invCountry>

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      <invstOrSec>
        <name>BORGWARNER INC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Berkshire Hathaway Inc</name>
        <lei>5493000C01ZX7D35SD85</lei>
        <title>Berkshire Hathaway Inc</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CREDIT AGRICOLE SA</name>
        <lei>969500TJ5KRTCJQWXH05</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MERCEDES-BENZ INT FINCE</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-04-09</maturityDt>
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        <name>Intesa Sanpaolo SpA</name>
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        <invCountry>IT</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-08-30</maturityDt>
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      <invstOrSec>
        <name>VERIZON COMMUNICATIONS</name>
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        <title>Verizon Communications Inc</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-04-02</maturityDt>
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      <invstOrSec>
        <name>TOTALENERGIES CAPITAL</name>
        <lei>549300U37G2I8G4RUG09</lei>
        <title>TotalEnergies Capital International SA</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-05-18</maturityDt>
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          <annualizedRt>1.62000000</annualizedRt>
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      <invstOrSec>
        <name>AIRBUS SE</name>
        <lei>MINO79WLOO247M1IL051</lei>
        <title>Airbus SE</title>
        <cusip>000000000</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-06-09</maturityDt>
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          <annualizedRt>1.63000000</annualizedRt>
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      <invstOrSec>
        <name>IBM CORP</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-01-31</maturityDt>
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          <annualizedRt>0.88000000</annualizedRt>
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        <name>SWEDBANK AB</name>
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        <invCountry>SE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-05-05</maturityDt>
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        <name>CREDIT AGRICOLE LONDON</name>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-05</maturityDt>
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      <invstOrSec>
        <name>Vodafone Group PLC</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>Vodafone Group PLC</title>
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        <balance>150000.00000000</balance>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-08-12</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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        <name>UNICREDIT SPA</name>
        <lei>549300TRUWO2CD2G5692</lei>
        <title>UniCredit SpA</title>
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        <invCountry>IT</invCountry>
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        <name>IBM CORP</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>ANHEUSER-BUSCH INBEV SA/</name>
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        <title>Anheuser-Busch InBev SA/NV</title>
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        <invCountry>BE</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Citigroup Inc</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup Inc</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-10</maturityDt>
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          <annualizedRt>1.25000000</annualizedRt>
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      <invstOrSec>
        <name>ABN AMRO BANK NV</name>
        <lei>BFXS5XCH7N0Y05NIXW11</lei>
        <title>ABN AMRO Bank NV</title>
        <cusip>000000000</cusip>
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        <balance>100000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-15</maturityDt>
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          <annualizedRt>0.60000000</annualizedRt>
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      <invstOrSec>
        <name>Commerzbank AG</name>
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        <name>DIGITAL EURO FINCO</name>
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      <invstOrSec>
        <name>BARCLAYS PLC</name>
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      <invstOrSec>
        <name>ANHEUSER-BUSCH INBEV SA/</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Microsoft Corp</name>
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        <title>Microsoft Corp</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-06</maturityDt>
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      <invstOrSec>
        <name>HSBC Holdings PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings PLC</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BANQUE FED CRED MUTUEL</name>
        <lei>VBHFXSYT7OG62HNT8T76</lei>
        <title>Banque Federative du Credit Mutuel SA</title>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-05-11</maturityDt>
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      <invstOrSec>
        <name>AMERICAN HONDA FINANCE</name>
        <lei>B6Q2VFHD1797Q7NZ3E43</lei>
        <title>American Honda Finance Corp</title>
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          <isin value="XS2159791990"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-10-18</maturityDt>
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      <invstOrSec>
        <name>BMW Finance NV</name>
        <lei>5299006ZHG3IXU0PNJ56</lei>
        <title>BMW Finance NV</title>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-07-10</maturityDt>
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      <invstOrSec>
        <name>LLOYDS BK CORP MKTS PLC</name>
        <lei>213800MBWEIJDM5CU638</lei>
        <title>Lloyds Bank Corporate Markets PLC</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-09</maturityDt>
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        <name>COCA-COLA CO/THE</name>
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        <title>Coca-Cola Co/The</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-15</maturityDt>
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        <name>MIZUHO FINANCIAL GROUP</name>
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        <title>Mizuho Financial Group Inc</title>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>MERCEDES-BENZ GROUP AG</name>
        <lei>529900R27DL06UVNT076</lei>
        <title>Mercedes-Benz Group AG</title>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-07-03</maturityDt>
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        <name>Eni SpA</name>
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        <title>Eni SpA</title>
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        <invCountry>IT</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>IMPERIAL BRANDS FIN NETH</name>
        <lei>724500GIEFJOBWGD0272</lei>
        <title>Imperial Brands Finance Netherlands BV</title>
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        <invCountry>NL</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-03-18</maturityDt>
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        <name>BANCO SANTANDER SA</name>
        <lei>5493006QMFDDMYWIAM13</lei>
        <title>Banco Santander SA</title>
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        <invCountry>ES</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Nordea Bank Abp</name>
        <lei>529900ODI3047E2LIV03</lei>
        <title>Nordea Bank Abp</title>
        <cusip>000000000</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-02-12</maturityDt>
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          <annualizedRt>1.13000000</annualizedRt>
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      <invstOrSec>
        <name>SCHLUMBERGER FINANCE BV</name>
        <lei>5299003L3TGTOIYBX911</lei>
        <title>Schlumberger Finance BV</title>
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        <name>ABN AMRO Bank NV</name>
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        <name>CaixaBank SA</name>
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        <name>VERIZON COMMUNICATIONS</name>
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        <fairValLevel>2</fairValLevel>
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        <name>VOLKSWAGEN FIN SERV AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SANTAN CONSUMER FINANCE</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BNP PARIBAS</name>
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        <fairValLevel>2</fairValLevel>
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        <name>DEUTSCHE TELEKOM INT FIN</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>HOLCIM FINANCE LUX SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BANCO SANTANDER SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GLAXOSMITHKLINE CAPITAL</name>
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        <title>GlaxoSmithKline Capital PLC</title>
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        <fairValLevel>2</fairValLevel>
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        <name>BRITISH TELECOMMUNICATIO</name>
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        <name>Barclays PLC</name>
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        <name>DIGITAL EURO FINCO</name>
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        <name>WELLS FARGO &amp; COMPANY</name>
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        <title>Wells Fargo &amp; Co</title>
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        <name>IBERDROLA INTL BV</name>
        <lei>549300ZMLFJKWC63XN87</lei>
        <title>Iberdrola International BV</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-03</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ENEL FINANCE INTL NV</name>
        <lei>0YQH6LCEF474UTUV4B96</lei>
        <title>Enel Finance International NV</title>
        <cusip>000000000</cusip>
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          <isin value="XS2353182376"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-06-17</maturityDt>
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          <annualizedRt>0.88000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MERCEDES-BENZ INT FINCE</name>
        <lei>529900RUGCXMPEENHQ31</lei>
        <title>Mercedes-Benz International Finance BV</title>
        <cusip>000000000</cusip>
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          <isin value="DE000A289XH6"/>
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        <balance>200000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-08-22</maturityDt>
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          <annualizedRt>1.63000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SMURFIT KAPPA ACQUISITIO</name>
        <lei>6354002XN4LUSDRPTR29</lei>
        <title>Smurfit Kappa Acquisitions ULC</title>
        <cusip>000000000</cusip>
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          <isin value="XS1849518276"/>
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        <balance>100000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-01-15</maturityDt>
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          <annualizedRt>2.88000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BERKSHIRE HATHAWAY FIN</name>
        <lei>549300RLHFT5RU20WM87</lei>
        <title>Berkshire Hathaway Finance Corp</title>
        <cusip>000000000</cusip>
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          <isin value="XS2014278944"/>
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        <balance>100000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-06-19</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LOGICOR FINANCING SARL</name>
        <lei>254900IS16Q1A2TQFN22</lei>
        <title>Logicor Financing Sarl</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2027364327"/>
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        <balance>100000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-15</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ING GROEP NV</name>
        <lei>549300NYKK9MWM7GGW15</lei>
        <title>ING Groep NV</title>
        <cusip>000000000</cusip>
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          <isin value="XS2390506546"/>
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        <balance>200000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.38000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BPCE SA</name>
        <lei>9695005MSX1OYEMGDF46</lei>
        <title>BPCE SA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0013534674"/>
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        <balance>200000.00000000</balance>
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        <valUSD>185676.08000000</valUSD>
        <pctVal>0.175097535630</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BARCLAYS PLC</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2373642102"/>
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        <balance>100000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.95652600"/>
        <valUSD>85050.07000000</valUSD>
        <pctVal>0.080204502713</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.58000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS1987097430"/>
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        <balance>100000.00000000</balance>
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        <valUSD>101235.09000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-04-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.50000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>KBC GROUP NV</name>
        <lei>213800X3Q9LSAKRUWY91</lei>
        <title>KBC Group NV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BE0002631126"/>
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        <balance>100000.00000000</balance>
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        <valUSD>102924.54000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-01-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.13000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ENEL FINANCE INTL NV</name>
        <lei>0YQH6LCEF474UTUV4B96</lei>
        <title>Enel Finance International NV</title>
        <cusip>000000000</cusip>
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          <isin value="XS2066706909"/>
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        <balance>500000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.38000000</annualizedRt>
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      <invstOrSec>
        <name>CREDIT SUISSE AG LONDON</name>
        <lei>ANGGYXNX0JLX3X63JN86</lei>
        <title>Credit Suisse AG/London</title>
        <cusip>000000000</cusip>
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          <isin value="XS2345981802"/>
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        <balance>100000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-15</maturityDt>
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          <annualizedRt>1.13000000</annualizedRt>
          <isDefault>N</isDefault>
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      <invstOrSec>
        <name>NATURGY FINANCE BV</name>
        <lei>2138005FTXOJUBQ5J563</lei>
        <title>Naturgy Finance BV</title>
        <cusip>000000000</cusip>
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          <isin value="XS2156506854"/>
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        <balance>100000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.25000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BPCE SA</name>
        <lei>9695005MSX1OYEMGDF46</lei>
        <title>BPCE SA</title>
        <cusip>000000000</cusip>
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          <isin value="FR0013396447"/>
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        <balance>100000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Apple Inc</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>Apple Inc</title>
        <cusip>037833BJ8</cusip>
        <identifiers>
          <isin value="XS1269175466"/>
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        <balance>100000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-31</maturityDt>
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          <annualizedRt>3.05000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>MEDTRONIC GLOBAL HLDINGS</name>
        <lei>549300JXMTTP8GKYIX14</lei>
        <title>Medtronic Global Holdings SCA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2238789460"/>
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        <balance>100000.00000000</balance>
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        <valUSD>90598.06000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.38000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NORDEA BANK ABP</name>
        <lei>529900ODI3047E2LIV03</lei>
        <title>Nordea Bank Abp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2443893255"/>
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        <balance>100000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.95652600"/>
        <valUSD>96138.11000000</valUSD>
        <pctVal>0.090660822552</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AIRBUS SE</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SHELL INTERNATIONAL FIN</name>
        <lei>213800ITMMKU4Z7I4F78</lei>
        <title>Shell International Finance BV</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GOLDMAN SACHS GROUP INC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BANQUE FED CRED MUTUEL</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-17</maturityDt>
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      <invstOrSec>
        <name>TAKEDA PHARMACEUTICAL</name>
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        <title>Takeda Pharmaceutical Co Ltd</title>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ABBOTT IRELAND FINANCING</name>
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        <title>Abbott Ireland Financing DAC</title>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-27</maturityDt>
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      <invstOrSec>
        <name>CAPGEMINI SE</name>
        <lei>96950077L0TN7BAROX36</lei>
        <title>Capgemini SE</title>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-15</maturityDt>
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          <annualizedRt>2.00000000</annualizedRt>
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        <name>INTESA SANPAOLO SPA</name>
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        <title>Intesa Sanpaolo SpA</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>IT</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-04</maturityDt>
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      <invstOrSec>
        <name>AT&amp;T Inc</name>
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        <title>AT&amp;T Inc</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-06-01</maturityDt>
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      <invstOrSec>
        <name>MERCEDES-BENZ GROUP AG</name>
        <lei>529900R27DL06UVNT076</lei>
        <title>Mercedes-Benz Group AG</title>
        <cusip>000000000</cusip>
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        <balance>100000.00000000</balance>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-15</maturityDt>
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      <invstOrSec>
        <name>Orange SA</name>
        <lei>969500MCOONR8990S771</lei>
        <title>Orange SA</title>
        <cusip>000000000</cusip>
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        <balance>350000.00000000</balance>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-01-28</maturityDt>
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        <name>Cooperatieve Rabobank UA</name>
        <lei>DG3RU1DBUFHT4ZF9WN62</lei>
        <title>Cooperatieve Rabobank UA</title>
        <cusip>000000000</cusip>
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        <balance>300000.00000000</balance>
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        <invCountry>NL</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-03-23</maturityDt>
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          <annualizedRt>1.25000000</annualizedRt>
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      <invstOrSec>
        <name>MERCEDES-BENZ GROUP AG</name>
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        <title>Mercedes-Benz Group AG</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Vodafone Group PLC</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>Vodafone Group PLC</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-25</maturityDt>
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        <name>IBM CORP</name>
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        <title>International Business Machines Corp</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Volkswagen Leasing GmbH</name>
        <lei>5299004GLEUX88BSNB74</lei>
        <title>Volkswagen Leasing GmbH</title>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-01-15</maturityDt>
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      <invstOrSec>
        <name>Cadent Finance PLC</name>
        <lei>5493005M8TJ0J6IMUF67</lei>
        <title>Cadent Finance PLC</title>
        <cusip>000000000</cusip>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-22</maturityDt>
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          <annualizedRt>2.13000000</annualizedRt>
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        <name>CREDIT SUISSE GROUP AG</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>THERMO FISHER SC FNCE I</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BANCO SANTANDER SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BPCE SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ABN AMRO Bank NV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>RYANAIR DAC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NESTLE FINANCE INTL LTD</name>
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        <name>SHELL INTERNATIONAL FIN</name>
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        <name>BPCE SA</name>
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        <name>Intesa Sanpaolo SpA</name>
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        <name>BAYER AG</name>
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        <name>WELLS FARGO &amp; COMPANY</name>
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        <name>BANCO SANTANDER SA</name>
        <lei>5493006QMFDDMYWIAM13</lei>
        <title>Banco Santander SA</title>
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        <invCountry>ES</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>SUMITOMO MITSUI FINL GRP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Vodafone Group PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BERKSHIRE HATHAWAY FIN</name>
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        <title>Berkshire Hathaway Finance Corp</title>
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        <fairValLevel>2</fairValLevel>
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        <name>IBM CORP</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-05-23</maturityDt>
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        <name>ENEL FINANCE INTL NV</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>LLOYDS BANKING GROUP PLC</name>
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        <title>Lloyds Banking Group PLC</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-12</maturityDt>
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        <name>Bank of America Corp</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-04</maturityDt>
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        <name>SANOFI</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AT&amp;T Inc</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>BANK OF AMERICA CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BPCE SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>COMMERZBANK AG</name>
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        <name>TORONTO-DOMINION BANK</name>
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        <name>CREDIT SUISSE GROUP AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SOCIETE GENERALE</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>Societe Generale SA</title>
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        <fairValLevel>2</fairValLevel>
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        <name>BNP PARIBAS</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
        <title>BNP Paribas SA</title>
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        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Merck &amp; Co Inc</name>
        <lei>4YV9Y5M8S0BRK1RP0397</lei>
        <title>Merck &amp; Co Inc</title>
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        <name>DH EUROPE FINANCE II</name>
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        <name>Vinci SA</name>
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        <name>Banco Santander SA</name>
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        <name>CARLSBERG BREWERIES A/S</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-05-28</maturityDt>
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        <name>HeidelbergCement AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ING Groep NV</name>
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        <invCountry>NL</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>DEUTSCHE BANK AG</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-06-26</maturityDt>
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        <name>ANHEUSER-BUSCH INBEV SA/</name>
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        <name>ABN AMRO BANK NV</name>
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        <name>ING Groep NV</name>
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        <invCountry>LU</invCountry>

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        <name>TORONTO-DOMINION BANK</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SHELL INTERNATIONAL FIN</name>
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        <name>SIEMENS FINANCIERINGSMAT</name>
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        <title>Siemens Financieringsmaatschappij NV</title>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Vonovia Finance BV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TRATON FINANCE LUX SA</name>
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        <invCountry>LU</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>BP CAPITAL MARKETS PLC</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>MEDTRONIC GLOBAL HLDINGS</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <invCountry>ES</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>NATIONWIDE BLDG SOCIETY</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>RICHEMONT INTERNATIONAL</name>
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        <invCountry>LU</invCountry>

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        <name>Snam SpA</name>
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        <name>SANTANDER UK GROUP HLDGS</name>
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        <title>GlaxoSmithKline Capital PLC</title>
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        <invCountry>GB</invCountry>
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        <name>GOLDMAN SACHS GROUP INC</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>VERIZON COMMUNICATIONS</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ENEL FINANCE INTL NV</name>
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        <title>Enel Finance International NV</title>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Centrica PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BMW Finance NV</name>
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        <title>BMW Finance NV</title>
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        <name>SIEMENS FINANCIERINGSMAT</name>
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        <fairValLevel>2</fairValLevel>
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        <name>State Street Global Advisors</name>
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        <fairValLevel>1</fairValLevel>
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        <name>AT&amp;T Inc</name>
        <lei>549300Z40J86GGSTL398</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>HEIDELBERGCEMENT FIN LUX</name>
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        <title>HeidelbergCement Finance Luxembourg SA</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>ENEL FINANCE INTL NV</name>
        <lei>0YQH6LCEF474UTUV4B96</lei>
        <title>Enel Finance International NV</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Telefonica Emisiones SAU</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CREDIT AGRICOLE LONDON</name>
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        <title>Credit Agricole SA/London</title>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>COMCAST CORP</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>Comcast Corp</title>
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        <fairValLevel>2</fairValLevel>
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        <name>BAT INTL FINANCE PLC</name>
        <lei>21380041YBGOQDFAC823</lei>
        <title>BAT International Finance PLC</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>BANCO BILBAO VIZCAYA ARG</name>
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        <title>Banco Bilbao Vizcaya Argentaria SA</title>
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        <name>SVENSKA HANDELSBANKEN AB</name>
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        <title>Svenska Handelsbanken AB</title>
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      <invstOrSec>
        <name>VOLKSWAGEN INTL FIN NV</name>
        <lei>5299004PWNHKYTR23649</lei>
        <title>Volkswagen International Finance NV</title>
        <cusip>000000000</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-30</maturityDt>
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        <name>MORGAN STANLEY</name>
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        <title>Morgan Stanley</title>
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        <name>ENEL FINANCE INTL NV</name>
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        <name>NESTLE FINANCE INTL LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>UNICREDIT SPA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Telefonica Emisiones SAU</name>
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        <fairValLevel>2</fairValLevel>
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        <name>JPMORGAN CHASE &amp; CO</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ING GROEP NV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BANCO SANTANDER SA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>VERIZON COMMUNICATIONS</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CREDIT SUISSE GROUP AG</name>
        <lei>549300506SI9CRFV9Z86</lei>
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        <invCountry>CH</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-14</maturityDt>
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      <invstOrSec>
        <name>HSBC Holdings PLC</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>1.50000000</annualizedRt>
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        <name>BNP PARIBAS</name>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-14</maturityDt>
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      <invstOrSec>
        <name>Danone SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MERCEDES-BENZ INT FINCE</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CREDIT AGRICOLE LONDON</name>
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        <name>Orange SA</name>
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        <name>VERIZON COMMUNICATIONS</name>
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        <name>TERNA RETE ELETTRICA</name>
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        <title>Terna - Rete Elettrica Nazionale</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Barclays PLC</name>
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        <title>Barclays PLC</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-02-12</maturityDt>
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        <name>SWEDBANK AB</name>
        <lei>M312WZV08Y7LYUC71685</lei>
        <title>Swedbank AB</title>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>AT&amp;T Inc</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T Inc</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-03-15</maturityDt>
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      <invstOrSec>
        <name>SIEMENS FINANCIERINGSMAT</name>
        <lei>TAFO772JB70PDRN5VS48</lei>
        <title>Siemens Financieringsmaatschappij NV</title>
        <cusip>000000000</cusip>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-10</maturityDt>
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          <annualizedRt>2.88000000</annualizedRt>
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      <invstOrSec>
        <name>LVMH MOET HENNESSY VUITT</name>
        <lei>IOG4E947OATN0KJYSD45</lei>
        <title>LVMH Moet Hennessy Louis Vuitton SE</title>
        <cusip>000000000</cusip>
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          <isin value="FR0013482817"/>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-02-11</maturityDt>
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      <invstOrSec>
        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
        <cusip>000000000</cusip>
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          <isin value="XS2404028230"/>
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        <balance>400000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-04-29</maturityDt>
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          <annualizedRt>1.10000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>STELLANTIS NV</name>
        <lei>549300LKT9PW7ZIBDF31</lei>
        <title>Stellantis NV</title>
        <cusip>000000000</cusip>
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          <isin value="XS2325733413"/>
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        <balance>200000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-30</maturityDt>
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          <annualizedRt>0.63000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BAYER AG</name>
        <lei>549300J4U55H3WP1XT59</lei>
        <title>Bayer AG</title>
        <cusip>000000000</cusip>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-01-06</maturityDt>
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          <annualizedRt>0.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BANQUE FED CRED MUTUEL</name>
        <lei>VBHFXSYT7OG62HNT8T76</lei>
        <title>Banque Federative du Credit Mutuel SA</title>
        <cusip>000000000</cusip>
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          <isin value="XS1346115295"/>
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        <balance>100000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-19</maturityDt>
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          <annualizedRt>1.63000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>VERIZON COMMUNICATIONS</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>Verizon Communications Inc</title>
        <cusip>92343VEV2</cusip>
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          <isin value="XS1979280853"/>
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        <balance>100000.00000000</balance>
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        <valUSD>96222.37000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.88000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NATIONAL GRID PLC</name>
        <lei>549300L22M2RCLXON143</lei>
        <title>Western Power Distribution West Midlands PLC</title>
        <cusip>000000000</cusip>
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          <isin value="XS0627336323"/>
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        <balance>100000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-16</maturityDt>
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          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>VODAFONE GROUP PLC</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>Vodafone Group PLC</title>
        <cusip>000000000</cusip>
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          <isin value="XS2002018500"/>
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        <balance>200000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-11-24</maturityDt>
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          <annualizedRt>1.63000000</annualizedRt>
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        <name>NATWEST GROUP PLC</name>
        <lei>2138005O9XJIJN4JPN90</lei>
        <title>NatWest Group PLC</title>
        <cusip>000000000</cusip>
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          <isin value="XS1795261822"/>
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        <balance>100000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-19</maturityDt>
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          <annualizedRt>2.88000000</annualizedRt>
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        <name>ABERTIS INFRAESTRUCTURAS</name>
        <lei>549300GKFVWI02JQ5332</lei>
        <title>Abertis Infraestructuras SA</title>
        <cusip>000000000</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-27</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ABN AMRO Bank NV</name>
        <lei>BFXS5XCH7N0Y05NIXW11</lei>
        <title>ABN AMRO Bank NV</title>
        <cusip>000000000</cusip>
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        <balance>100000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-11-29</maturityDt>
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          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>NORDEA BANK ABP</name>
        <lei>529900ODI3047E2LIV03</lei>
        <title>Nordea Bank Abp</title>
        <cusip>000000000</cusip>
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          <isin value="XS2171874519"/>
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        <balance>100000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-14</maturityDt>
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          <annualizedRt>0.50000000</annualizedRt>
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      <invstOrSec>
        <name>HSBC Holdings PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings PLC</title>
        <cusip>404280CB3</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-22</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Sanofi</name>
        <lei>549300E9PC51EN656011</lei>
        <title>Sanofi</title>
        <cusip>000000000</cusip>
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          <isin value="FR0013324373"/>
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        <balance>100000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-03-21</maturityDt>
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          <annualizedRt>1.88000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Lloyds Banking Group PLC</name>
        <lei>549300PPXHEU2JF0AM85</lei>
        <title>Lloyds Banking Group PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS1699636574"/>
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        <balance>200000.00000000</balance>
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        <valUSD>233240.95000000</valUSD>
        <pctVal>0.219952486895</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-10-16</maturityDt>
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        <name>BAYER AG</name>
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        <name>HSBC CONTINENTAL EUROPE</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MEDTRONIC GLOBAL HLDINGS</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>COMCAST CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>THERMO FISHER SCIENTIFIC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Intesa Sanpaolo SpA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AT&amp;T INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CK HUTCHISON FIN 16 II</name>
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        <invCountry>KY</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>INTESA SANPAOLO SPA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Citigroup Inc</name>
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        <name>CREDIT SUISSE GROUP AG</name>
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        <title>Credit Suisse Group AG</title>
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        <name>NESTLE FINANCE INTL LTD</name>
        <lei>0KLLMNHINTFDRMU6DI05</lei>
        <title>Nestle Finance International Ltd</title>
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        <invCountry>LU</invCountry>

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        <name>IBM CORP</name>
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        <name>GOLDMAN SACHS GROUP INC</name>
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        <title>Goldman Sachs Group Inc/The</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Altria Group Inc</name>
        <lei>XSGZFLO9YTNO9VCQV219</lei>
        <title>Altria Group Inc</title>
        <cusip>02209SAZ6</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-15</maturityDt>
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        <name>Sanofi</name>
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        <name>ING GROEP NV</name>
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        <name>DEUTSCHE TELEKOM INT FIN</name>
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        <fairValLevel>2</fairValLevel>
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        <name>McDonald's Corp</name>
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        <name>SUMITOMO MITSUI FINL GRP</name>
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        <name>LVMH MOET HENNESSY VUITT</name>
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        <name>CREDIT SUISSE GROUP AG</name>
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        <name>Lloyds Bank PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LEASEPLAN CORPORATION NV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>JPMorgan Chase &amp; Co</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CK HUTCHISON GROUP</name>
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        <title>CK Hutchison Group Telecom Finance SA</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Coca-Cola Co/The</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Berkshire Hathaway Inc</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>TORONTO-DOMINION BANK</name>
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        <name>CaixaBank SA</name>
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        <name>DANSKE BANK A/S</name>
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        <name>AT&amp;T INC</name>
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        <name>SWEDBANK AB</name>
        <lei>M312WZV08Y7LYUC71685</lei>
        <title>Swedbank AB</title>
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        <name>Eni SpA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ING GROEP NV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>DANSKE BANK A/S</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AMERICAN INTL GROUP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Engie Alliance GIE</name>
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        <name>SOCIETE GENERALE</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Engie SA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>STELLANTIS NV</name>
        <lei>549300LKT9PW7ZIBDF31</lei>
        <title>Stellantis NV</title>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-01-05</maturityDt>
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        <name>E.ON INTL FINANCE BV</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-10-30</maturityDt>
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      <invstOrSec>
        <name>SHELL INTERNATIONAL FIN</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TELEFONICA EMISIONES SAU</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CREDIT AGRICOLE SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CREDIT AGRICOLE LONDON</name>
        <lei>969500TJ5KRTCJQWXH05</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>AIRBUS SE</name>
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        <title>Airbus SE</title>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-04-07</maturityDt>
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        <name>CAIXABANK SA</name>
        <lei>7CUNS533WID6K7DGFI87</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>ENEL FINANCE INTL NV</name>
        <lei>0YQH6LCEF474UTUV4B96</lei>
        <title>Enel Finance International NV</title>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>UNILEVER FINANCE</name>
        <lei>549300SWJ4YK4LLNT176</lei>
        <title>Unilever Finance Netherlands BV</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-03-25</maturityDt>
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        <name>NORDEA BANK ABP</name>
        <lei>529900ODI3047E2LIV03</lei>
        <title>Nordea Bank Abp</title>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>BNP PARIBAS</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AROUNDTOWN SA</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UBS GROUP AG</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Morgan Stanley</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Naturgy Finance BV</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-01-19</maturityDt>
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      <invstOrSec>
        <name>FIDELITY NATL INFO SERV</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-21</maturityDt>
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      <invstOrSec>
        <name>UTAH ACQUISITION SUB</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-11-22</maturityDt>
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          <annualizedRt>2.25000000</annualizedRt>
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      <invstOrSec>
        <name>OP CORPORATE BANK PLC</name>
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        <invCountry>FI</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-08-12</maturityDt>
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          <annualizedRt>0.50000000</annualizedRt>
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        <name>Sanofi</name>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-10</maturityDt>
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        <name>NOVARTIS FINANCE SA</name>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-09-23</maturityDt>
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        <name>JPMorgan Chase &amp; Co</name>
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        <fairValLevel>2</fairValLevel>
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        <name>UNICREDIT SPA</name>
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        <invCountry>IT</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-01-19</maturityDt>
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        <name>ANHEUSER-BUSCH INBEV SA/</name>
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        <invCountry>BE</invCountry>
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          <maturityDt>2027-01-22</maturityDt>
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        <name>GOLDMAN SACHS GROUP INC</name>
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        <name>AUST &amp; NZ BANKING GROUP</name>
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        <name>CAIXABANK SA</name>
        <lei>7CUNS533WID6K7DGFI87</lei>
        <title>CaixaBank SA</title>
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        <invCountry>ES</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>TOTALENERGIES CAPITAL</name>
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        <title>TotalEnergies Capital International SA</title>
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        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CaixaBank SA</name>
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        <name>BPCE SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CREDIT AGRICOLE SA</name>
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        <name>SHELL INTERNATIONAL FIN</name>
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        <fairValLevel>2</fairValLevel>
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        <name>WELLS FARGO &amp; COMPANY</name>
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        <fairValLevel>2</fairValLevel>
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        <name>VOLKSWAGEN INTL FIN NV</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>ASTM SPA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BANQUE FED CRED MUTUEL</name>
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        <name>Volkswagen Leasing GmbH</name>
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        <invCountry>DE</invCountry>
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        <name>BNP PARIBAS</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Barclays PLC</name>
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        <name>SHELL INTERNATIONAL FIN</name>
        <lei>213800ITMMKU4Z7I4F78</lei>
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        <name>ANHEUSER-BUSCH INBEV SA/</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SCHLUMBERGER FINANCE BV</name>
        <lei>5299003L3TGTOIYBX911</lei>
        <title>Schlumberger Finance BV</title>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <name>SANTAN CONSUMER FINANCE</name>
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        <fairValLevel>2</fairValLevel>
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        <name>APPLE INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BANQUE FED CRED MUTUEL</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BNP PARIBAS</name>
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        <fairValLevel>2</fairValLevel>
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        <name>EASYJET FINCO BV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Commerzbank AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Orange SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>DEUTSCHE BANK AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>Deutsche Bank AG</title>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-12-16</maturityDt>
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        <name>CITIGROUP INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SHELL INTERNATIONAL FIN</name>
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        <title>Shell International Finance BV</title>
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        <name>Citigroup Inc</name>
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        <name>CREDIT SUISSE AG LONDON</name>
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        <name>HSBC Holdings PLC</name>
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        <name>AIRBUS SE</name>
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        <title>Airbus SE</title>
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        <fairValLevel>2</fairValLevel>
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        <name>CREDIT AGRICOLE LONDON</name>
        <lei>969500TJ5KRTCJQWXH05</lei>
        <title>Credit Agricole SA/London</title>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>DEUTSCHE BANK AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DH EUROPE FINANCE II</name>
        <lei>222100KDGL314CKTZ511</lei>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LOGICOR 2019 1 UK</name>
        <lei>635400V9BO1NJKELQ692</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AIR LIQUIDE FINANCE</name>
        <lei>549300YGXL5Z3R14K812</lei>
        <title>Air Liquide Finance SA</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GLAXOSMITHKLINE CAPITAL</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JPMorgan Chase &amp; Co</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MERCEDES-BENZ GROUP AG</name>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>THFC FUNDING NO 3 PLC</name>
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        <title>THFC Funding No 3 PLC</title>
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          <isin value="XS0690140032"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Heathrow Funding Ltd</name>
        <lei>7TI96JO3DYEIQWZ7Z726</lei>
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        <assetCat>DBT</assetCat>
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        <invCountry>JE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-03</maturityDt>
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          <annualizedRt>6.75000000</annualizedRt>
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      <invstOrSec>
        <name>IBM CORP</name>
        <lei>VGRQXHF3J8VDLUA7XE92</lei>
        <title>International Business Machines Corp</title>
        <cusip>459200KF7</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-02-11</maturityDt>
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        <name>WELLS FARGO &amp; COMPANY</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-06-04</maturityDt>
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      <invstOrSec>
        <name>DEUTSCHE BANK AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>Deutsche Bank AG</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AT&amp;T Inc</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T Inc</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>ESSILORLUXOTTICA</name>
        <lei>549300M3VH1A3ER1TB49</lei>
        <title>EssilorLuxottica SA</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GLAXOSMITHKLINE CAPITAL</name>
        <lei>549300U0LV41VX7LEP38</lei>
        <title>GlaxoSmithKline Capital PLC</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>DIAGEO FINANCE PLC</name>
        <lei>BPF79TJMIH3DK8XCKI50</lei>
        <title>Diageo Finance PLC</title>
        <cusip>000000000</cusip>
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        <balance>100000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-03-27</maturityDt>
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          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>RICHEMONT INTERNATIONAL</name>
        <lei>549300V9893NUQX6X069</lei>
        <title>Richemont International Holding SA</title>
        <cusip>000000000</cusip>
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        <balance>100000.00000000</balance>
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        <valUSD>86900.93000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-03-26</maturityDt>
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      <invstOrSec>
        <name>Volkswagen Leasing GmbH</name>
        <lei>5299004GLEUX88BSNB74</lei>
        <title>Volkswagen Leasing GmbH</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Coca-Cola Co/The</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Deutsche Bank AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ABBOTT IRELAND FINANCING</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BNP PARIBAS</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AROUNDTOWN SA</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CREDIT AGRICOLE SA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HSBC Holdings PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-09-06</maturityDt>
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      <invstOrSec>
        <name>ING Groep NV</name>
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        <invCountry>NL</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-09-20</maturityDt>
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      <invstOrSec>
        <name>Procter &amp; Gamble Co/The</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TAKEDA PHARMACEUTICAL</name>
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        <title>Takeda Pharmaceutical Co Ltd</title>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>BANCO SANTANDER SA</name>
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        <name>TERNA RETE ELETTRICA</name>
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        <title>Terna - Rete Elettrica Nazionale</title>
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        <invCountry>IT</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>OMV AG</name>
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        <name>BPCE SA</name>
        <lei>9695005MSX1OYEMGDF46</lei>
        <title>BPCE SA</title>
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        <invCountry>FR</invCountry>
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        <name>SIEMENS FINANCIERINGSMAT</name>
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        <title>Siemens Financieringsmaatschappij NV</title>
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        <fairValLevel>2</fairValLevel>
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        <name>AT&amp;T Inc</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T Inc</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-09-04</maturityDt>
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      <invstOrSec>
        <name>Barclays PLC</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays PLC</title>
        <cusip>000000000</cusip>
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        <name>LVMH MOET HENNESSY VUITT</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>CAIXABANK SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TAKEDA PHARMACEUTICAL</name>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>MERCEDES-BENZ INT FINCE</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LEASEPLAN CORPORATION NV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>UNICREDIT SPA</name>
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        <name>DOW CHEMICAL CO/THE</name>
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        <name>CAIXABANK SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Vodafone Group PLC</name>
        <lei>213800TB53ELEUKM7Q61</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>SAP SE</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GOLDMAN SACHS GROUP INC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BNP PARIBAS</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Vonovia Finance BV</name>
        <lei>5299009XLZLD9TALOZ03</lei>
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          <isin value="DE000A189ZX0"/>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>COOPERATIEVE RABOBANK UA</name>
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        <invCountry>NL</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-05</maturityDt>
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      <invstOrSec>
        <name>THERMO FISHER SCIENTIFIC</name>
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        <title>Thermo Fisher Scientific Inc</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-09-12</maturityDt>
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      <invstOrSec>
        <name>SHELL INTERNATIONAL FIN</name>
        <lei>213800ITMMKU4Z7I4F78</lei>
        <title>Shell International Finance BV</title>
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        <balance>100000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-07</maturityDt>
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          <annualizedRt>1.50000000</annualizedRt>
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      <invstOrSec>
        <name>BARCLAYS PLC</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays PLC</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-04-02</maturityDt>
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          <annualizedRt>3.38000000</annualizedRt>
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      <invstOrSec>
        <name>UBS GROUP AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS Group AG</title>
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        <invCountry>CH</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-02-24</maturityDt>
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          <annualizedRt>0.25000000</annualizedRt>
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        <name>Apple Inc</name>
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        <title>Apple Inc</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-05-24</maturityDt>
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          <annualizedRt>0.88000000</annualizedRt>
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        <name>DH EUROPE FINANCE II</name>
        <lei>222100KDGL314CKTZ511</lei>
        <title>DH Europe Finance II Sarl</title>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-03-18</maturityDt>
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          <annualizedRt>0.20000000</annualizedRt>
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      <invstOrSec>
        <name>ENEL FINANCE INTL NV</name>
        <lei>0YQH6LCEF474UTUV4B96</lei>
        <title>Enel Finance International NV</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>GLAXOSMITHKLINE CAPITAL</name>
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        <title>GlaxoSmithKline Capital PLC</title>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Roche Finance Europe BV</name>
        <lei>724500MMYDP2MJLGB718</lei>
        <title>Roche Finance Europe BV</title>
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        <fairValLevel>2</fairValLevel>
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        <name>MERCEDES-BENZ INT FINCE</name>
        <lei>529900RUGCXMPEENHQ31</lei>
        <title>Mercedes-Benz International Finance BV</title>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>1.00000000</annualizedRt>
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      <invstOrSec>
        <name>Bank of America Corp</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp</title>
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        <balance>300000.00000000</balance>
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        <valUSD>292395.61000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <name>Heineken NV</name>
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        <name>MERCEDES-BENZ GROUP AG</name>
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        <name>THERMO FISHER SC FNCE I</name>
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        <name>ORANGE SA</name>
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        <name>ESSILORLUXOTTICA</name>
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        <name>BAYER AG</name>
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        <name>OP CORPORATE BANK PLC</name>
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        <name>SOCIETE GENERALE</name>
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        <name>BNP PARIBAS</name>
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        <name>ROYAL BANK OF CANADA</name>
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        <name>BPCE SA</name>
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        <name>LVMH MOET HENNESSY VUITT</name>
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        <title>LVMH Moet Hennessy Louis Vuitton SE</title>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MERCEDES-BENZ GROUP AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Cadent Finance PLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SOCIETE GENERALE</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Novartis Finance SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CARREFOUR SA</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-15</maturityDt>
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        <name>Koninklijke KPN NV</name>
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        <invCountry>NL</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>TOTALENERGIES CAPITAL</name>
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        <title>TotalEnergies Capital International SA</title>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-04-08</maturityDt>
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        <name>CAPGEMINI SE</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BANQUE FED CRED MUTUEL</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Walmart Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ESSILORLUXOTTICA</name>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>BOUYGUES SA</name>
        <lei>969500MOCLNQFNZN0D63</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-24</maturityDt>
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        <name>Vodafone Group PLC</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>BANCO SANTANDER SA</name>
        <lei>5493006QMFDDMYWIAM13</lei>
        <title>Banco Santander SA</title>
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        <invCountry>ES</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>BHP Billiton Finance Ltd</name>
        <lei>549300KZMIS43NMT0A66</lei>
        <title>BHP Billiton Finance Ltd</title>
        <cusip>000000000</cusip>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-09-25</maturityDt>
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          <annualizedRt>4.30000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SHELL INTERNATIONAL FIN</name>
        <lei>213800ITMMKU4Z7I4F78</lei>
        <title>Shell International Finance BV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2170384130"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.95652600"/>
        <valUSD>102537.73000000</valUSD>
        <pctVal>0.096695836276</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-05-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNILEVER FINANCE</name>
        <lei>549300SWJ4YK4LLNT176</lei>
        <title>Unilever Finance Netherlands BV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2147133578"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.95652600"/>
        <valUSD>98015.11000000</valUSD>
        <pctVal>0.092430884018</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BNP PARIBAS</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
        <title>BNP Paribas SA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0013532280"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.95652600"/>
        <valUSD>178713.80000000</valUSD>
        <pctVal>0.168531918398</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DASSAULT SYSTEMES</name>
        <lei>96950065LBWY0APQIM86</lei>
        <title>Dassault Systemes SE</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0013444551"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.95652600"/>
        <valUSD>177611.90000000</valUSD>
        <pctVal>0.167492797071</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.38000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Engie SA</name>
        <lei>LAXUQCHT4FH58LRZDY46</lei>
        <title>Engie SA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0010946855"/>
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        <balance>150000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.82341800"/>
        <valUSD>196476.76000000</valUSD>
        <pctVal>0.185282867263</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2060-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NATWEST MARKETS PLC</name>
        <lei>RR3QWICWWIPCS8A4S074</lei>
        <title>NatWest Markets PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2355599197"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.95652600"/>
        <valUSD>280168.86000000</valUSD>
        <pctVal>0.264206767755</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.13000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Intesa Sanpaolo SpA</name>
        <lei>2W8N8UU78PMDQKZENC08</lei>
        <title>Intesa Sanpaolo SpA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS0986194883"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.95652600"/>
        <valUSD>107274.87000000</valUSD>
        <pctVal>0.101163086661</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-10-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EXXON MOBIL CORPORATION</name>
        <lei>J3WHBG0MTS7O8ZVMDC91</lei>
        <title>Exxon Mobil Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2196322312"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.95652600"/>
        <valUSD>92602.19000000</valUSD>
        <pctVal>0.087326354923</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.52000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LEASEPLAN CORPORATION NV</name>
        <lei>724500C60L930FVHS484</lei>
        <title>LeasePlan Corp NV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2384269101"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.95652600"/>
        <valUSD>91466.41000000</valUSD>
        <pctVal>0.086255283846</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CITIGROUP INC</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2167003685"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.95652600"/>
        <valUSD>198966.26000000</valUSD>
        <pctVal>0.187630532697</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BP Capital Markets PLC</name>
        <lei>549300CRVT18MXX0AG93</lei>
        <title>BP Capital Markets PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS1040506898"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.95652600"/>
        <valUSD>212084.15000000</valUSD>
        <pctVal>0.200001055662</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.97000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2022-07-27</ncom:dateSigned>
      <ncom:nameOfApplicant>SPDR SERIES TRUST</ncom:nameOfApplicant>
      <ncom:signature>Arthur Jensen</ncom:signature>
      <ncom:signerName>Arthur Jensen</ncom:signerName>
      <ncom:title>Deputy Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
