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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>U S DOLLAR</name>
        <lei>N/A</lei>
        <title>U S DOLLAR</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Internal" value="USD_20221019_BOAMERRILLLYNCH_26393"/>
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        <balance>49687320.00000000</balance>
        <units>OU</units>
        <descOthUnits>Contract Amount</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>2792349.13000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>BOA MERRILL LYNCH</counterpartyName>
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            <amtCurSold>49687320.00000000</amtCurSold>
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            <amtCurPur>34574633.44000000</amtCurPur>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW ZEALAND</name>
        <lei>N7LGVZM7X4UQ66T7LT74</lei>
        <title>BANK OF NEW ZEALAND</title>
        <cusip>06407EAC9</cusip>
        <identifiers>
          <isin value="US06407EAC93"/>
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        <balance>750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>651092.25000000</valUSD>
        <pctVal>0.193450126107</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NZ</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-03-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.00000000</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>Province de Quebec</name>
        <lei>549300WN65YFEQH74Y36</lei>
        <title>PROVINCE OF QUEBEC</title>
        <cusip>748149AQ4</cusip>
        <identifiers>
          <isin value="US748149AQ48"/>
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        <balance>5120000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4976926.72000000</valUSD>
        <pctVal>1.478726096976</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="Provincial" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-04-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</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>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U S TREASURY NOTE</title>
        <cusip>91282CDR9</cusip>
        <identifiers>
          <isin value="US91282CDR97"/>
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        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9571875.00000000</valUSD>
        <pctVal>2.843960169760</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.75000000</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>
        <name>Koninkrijk der Nederlanden</name>
        <lei>254900G14ALGVKORFN62</lei>
        <title>NETHERLANDS GOVERNMENT BOND</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NL0011220108"/>
        </identifiers>
        <balance>300000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="1.02051000"/>
        <valUSD>281182.94000000</valUSD>
        <pctVal>0.083544037273</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.25000000</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>AMAZON.COM, INC.</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>AMAZON COM INC</title>
        <cusip>023135CD6</cusip>
        <identifiers>
          <isin value="US023135CD60"/>
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        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1952768.00000000</valUSD>
        <pctVal>0.580199220401</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-04-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.73000000</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>Valtioneuvosto</name>
        <lei>743700M6Y2OQRVSBRD14</lei>
        <title>FINLAND GOVERNMENT BOND</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FI4000167317"/>
        </identifiers>
        <balance>1300000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="1.02051000"/>
        <valUSD>1225847.86000000</valUSD>
        <pctVal>0.364219391501</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>FI</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.87500000</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>European Financial Stability Facility SA</name>
        <lei>222100OW6UHQXNHKN143</lei>
        <title>EUROPEAN FINANCIAL STABILITY FACILITY</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="EU000A1G0BN7"/>
        </identifiers>
        <balance>700000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="1.02051000"/>
        <valUSD>684820.33000000</valUSD>
        <pctVal>0.203471288745</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="Supranational" issuerCat="OTHER"/>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-02-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.12500000</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>U S DOLLAR</name>
        <lei>N/A</lei>
        <title>U S DOLLAR</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="USD_20221025_STATESTREET_27162"/>
        </identifiers>
        <balance>462647.00000000</balance>
        <units>OU</units>
        <descOthUnits>Contract Amount</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-134.48000000</valUSD>
        <pctVal>-0.00003995620</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Forward" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>STATE STREET</counterpartyName>
              <counterpartyLei>549300ZFEEJ2IP5VME73</counterpartyLei>
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            <amtCurSold>462647.00000000</amtCurSold>
            <curSold>GBP</curSold>
            <amtCurPur>516575.96000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2022-10-25</settlementDt>
            <unrealizedAppr>-134.48000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Exportation et developpement Canada</name>
        <lei>Z6MHCSLXHKYG4B6PHW02</lei>
        <title>EXPORT DEVELOPMENT CANADA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1795387338"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.89582000"/>
        <valUSD>1074099.71000000</valUSD>
        <pctVal>0.319132541282</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="non-U.S. government agency" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-12-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.37500000</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>
        <name>Royaume de Belgique</name>
        <lei>549300SZ25JZFHRHWD76</lei>
        <title>KINGDOM OF BELGIUM GOVERNMENT BOND</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BE0000342510"/>
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        <balance>3300000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="1.02051000"/>
        <valUSD>3148954.93000000</valUSD>
        <pctVal>0.935605865861</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>BE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-10-22</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>U S DOLLAR</name>
        <lei>N/A</lei>
        <title>U S DOLLAR</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="USD_20221021_BOAMERRILLLYNCH_27003"/>
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        <balance>2239512.00000000</balance>
        <units>OU</units>
        <descOthUnits>Contract Amount</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>6061.46000000</valUSD>
        <pctVal>0.001800958622</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Forward" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>BOA MERRILL LYNCH</counterpartyName>
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            <amtCurSold>2239512.00000000</amtCurSold>
            <curSold>DKK</curSold>
            <amtCurPur>301772.67000000</amtCurPur>
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            <settlementDt>2022-10-21</settlementDt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>European Investment Bank</name>
        <lei>5493006YXS1U5GIHE750</lei>
        <title>EUROPEAN INVESTMENT BANK</title>
        <cusip>298785GJ9</cusip>
        <identifiers>
          <isin value="US298785GJ95"/>
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        <balance>541000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>533368.65000000</valUSD>
        <pctVal>0.158472524599</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="Supranational" issuerCat="OTHER"/>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-01-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</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>
        <name>International Bank for Reconstruction and Development</name>
        <lei>ZTMSNXROF84AHWJNKQ93</lei>
        <title>INTERNATIONAL BANK FOR RECONSTRUCTION DEV</title>
        <cusip>45906M3C3</cusip>
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          <isin value="US45906M3C38"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>971558.00000000</valUSD>
        <pctVal>0.288665726893</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-03-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Corporacion Interamericana de Inversiones</name>
        <lei>5493001X4LH60PFRL744</lei>
        <title>INTER AMERICAN INVESTMENT CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2059665443"/>
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        <balance>324000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>307599.12000000</valUSD>
        <pctVal>0.091392715171</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="Supranational" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-10-02</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>
        <name>Kommuninvest i Sverige Aktiebolag</name>
        <lei>EV2XZWMLLXF2QRX0CD47</lei>
        <title>KOMMUNINVEST I SVERIGE AB</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="SE0011414010"/>
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        <balance>15000000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="SEK" exchangeRt="11.09190000"/>
        <valUSD>1273916.10000000</valUSD>
        <pctVal>0.378501249547</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="non-U.S. government agency" issuerCat="OTHER"/>
        <invCountry>SE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.00000000</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>ROYAL BANK OF CANADA SYDNEY</name>
        <lei>N/A</lei>
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        <name>Province of Ontario, Canada</name>
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        <name>United States of America</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Province of Ontario, Canada</name>
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        <name>United States of America</name>
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        <name>U S DOLLAR</name>
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        <name>Shell International Finance B.V.</name>
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        <name>QUEENSLAND TREASURY CORPORATION</name>
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        <name>Oesterreichische Kontrollbank Aktiengesellschaft</name>
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        <name>U S DOLLAR</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>NEW ZEALAND DOLLAR</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>WESTPAC BANKING CORPORATION</name>
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        <name>European Investment Bank</name>
        <lei>5493006YXS1U5GIHE750</lei>
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          <maturityDt>2025-10-17</maturityDt>
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        <name>Nordea Bank Abp</name>
        <lei>529900ODI3047E2LIV03</lei>
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          <isin value="US65559CAB72"/>
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        <curCd>USD</curCd>
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        <invCountry>FI</invCountry>

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      <invstOrSec>
        <name>NETWORK RAIL INFRASTRUCTURE FINANCE PLC</name>
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          <isin value="XS0210467873"/>
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        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2024-01-22</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Oesterreichische Kontrollbank Aktiengesellschaft</name>
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          <isin value="XS1957513580"/>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>U S DOLLAR</name>
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      <invstOrSec>
        <name>EUROPEAN INVESTMENT BANK</name>
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          <isin value="XS2036242803"/>
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        <name>United States of America</name>
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        <name>CPPIB CAPITAL INC.</name>
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        <name>Landeskreditbank Baden-Wuerttemberg -Foerderbank-</name>
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        <name>Asian Infrastructure Investment Bank</name>
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        <name>Konungariket Sverige</name>
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      <invstOrSec>
        <name>ASIAN DEVELOPMENT BANK</name>
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        <name>Republique Francaise</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>INTER AMERICAN DEVELOPMENT BANK</name>
        <lei>VKU1UKDS9E7LYLMACP54</lei>
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          <isin value="AU3CB0229227"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ROCHE HOLDINGS, INC.</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>Abbott Ireland Financing Designated Activity Company</name>
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          <isin value="XS2076154801"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>BANQUE DE MONTREAL</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>U S DOLLAR</name>
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      <invstOrSec>
        <name>CPPIB CAPITAL INC.</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

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        <name>NATIONAL SECURITIES CLEARING CORPORATION</name>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>Aktiebolaget Svensk Exportkredit</name>
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        <title>SVENSK EXPORTKREDIT AB</title>
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        <name>European Financial Stability Facility SA</name>
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        <name>INTERNATIONAL FINANCE CORPORATION</name>
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        <name>NESTLE HOLDINGS, INC.</name>
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        <name>KOMMUNALBANKEN AS</name>
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        <name>Province of Ontario, Canada</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <isRestrictedSec>N</isRestrictedSec>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-05-16</maturityDt>
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        <name>CAISSE AMORTISSEMENT DE LA DETTE SOCIALE</name>
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          <isin value="XS1046806821"/>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>U S DOLLAR</name>
        <lei>N/A</lei>
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          <other otherDesc="Internal" value="USD_20221025_STATESTREET_26696"/>
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        <assetCat>DFE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>STATE STREET</counterpartyName>
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      <invstOrSec>
        <name>LA BANQUE TORONTO-DOMINION</name>
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          <isin value="CA89117FFK09"/>
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        <name>U S DOLLAR</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>INTERNATIONAL FINANCE CORPORATION</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-22</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>National Australia Bank Ltd (New York Branch)</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-01-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
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        <name>DEXIA CREDIT LOCAL SA</name>
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        <name>United States of America</name>
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        <name>Roche Finance Europe B.V.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BERKSHIRE HATHAWAY INC.</name>
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          <isin value="XS2133056114"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Aktiebolaget Svensk Exportkredit</name>
        <lei>1FOLRR5RWTWWI397R131</lei>
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          <isin value="US87031CAG87"/>
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      <invstOrSec>
        <name>OP Yrityspankki Oyj</name>
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          <isin value="XS1823485039"/>
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          <maturityDt>2025-05-22</maturityDt>
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          <annualizedRt>1.00000000</annualizedRt>
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        <name>BANQUE DE MONTREAL</name>
        <lei>NQQ6HPCNCCU6TUTQYE16</lei>
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          <isin value="CA06368AAD24"/>
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        <issuerCat>RF</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-09-11</maturityDt>
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          <annualizedRt>2.70000000</annualizedRt>
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        <name>SFIL SA</name>
        <lei>549300HFEHJOXGE4ZE63</lei>
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          <isin value="FR0014001VD2"/>
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        <balance>3800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3349320.00000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2026-02-09</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>BERKSHIRE HATHAWAY INC.</name>
        <lei>5493000C01ZX7D35SD85</lei>
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          <isin value="US084670BS67"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-03-15</maturityDt>
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        <name>KOMMUNALBANKEN AS</name>
        <lei>I7ETN0QQO2AHZZGHJ389</lei>
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          <isin value="XS1946056766"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>DEXIA CREDIT LOCAL SA</name>
        <lei>F4G136OIPBYND1F41110</lei>
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          <isin value="XS1143093976"/>
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        <balance>1300000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="1.02051000"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-11-26</maturityDt>
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          <annualizedRt>1.25000000</annualizedRt>
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        <name>U S DOLLAR</name>
        <lei>N/A</lei>
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        <name>UNEDIC</name>
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        <name>Kommuninvest i Sverige Aktiebolag</name>
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        <name>INTER AMERICAN DEVELOPMENT BANK</name>
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          <isin value="XS1873152638"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>U S DOLLAR</name>
        <lei>N/A</lei>
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          <other otherDesc="Internal" value="USD_20221116_CITIGROUP_26986"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>CITIGROUP</counterpartyName>
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      <invstOrSec>
        <name>Western Australian Treasury Corporation</name>
        <lei>213800FKHP5ME5Y3CF47</lei>
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        <cusip>N/A</cusip>
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          <isin value="AU3SG0001639"/>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>LANDESKREDITBANK BADEN WUERTTEMBERG FOERDERBANK</name>
        <lei>N/A</lei>
        <title>LANDESKREDITBANK BADEN WUERTTEMBERG FOERDERBANK</title>
        <cusip>BJ9810000</cusip>
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          <isin value="XS2190436357"/>
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        <balance>250000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-12-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.37500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KREDITANSTALT FUER WIEDERAUFBAU</name>
        <lei>N/A</lei>
        <title>KREDITANSTALT FUER WIEDERAUFBAU</title>
        <cusip>BH3422418</cusip>
        <identifiers>
          <isin value="DE000A254PS3"/>
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        <balance>64000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-31</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.01000000</annualizedRt>
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      <invstOrSec>
        <name>Erste Abwicklungsanstalt</name>
        <lei>7TG4VWERK338227TR435</lei>
        <title>ERSTE ABWICKLUNGSANSTALT</title>
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          <isin value="XS2403919702"/>
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        <balance>2400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2231976.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-10-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CANADIAN DOLLAR</name>
        <lei>N/A</lei>
        <title>CANADIAN DOLLAR</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Internal" value="CAD_20221024_UBSWARBURG_26980"/>
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        <balance>-8327370.00000000</balance>
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        <assetCat>DFE</assetCat>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>UBS WARBURG</counterpartyName>
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      <invstOrSec>
        <name>Skandinaviska Enskilda Banken AB</name>
        <lei>F3JS33DEI6XQ4ZBPTN86</lei>
        <title>SKANDINAVISKA ENSKILDA</title>
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          <isin value="US83051GAR92"/>
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        <valUSD>1761348.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-09-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.85000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>THE PROCTER &amp; GAMBLE COMPANY</name>
        <lei>2572IBTT8CCZW6AU4141</lei>
        <title>PROCTER GAMBLE CO THE</title>
        <cusip>742718FP9</cusip>
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          <isin value="US742718FP97"/>
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        <balance>4406000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.00000000</annualizedRt>
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      <invstOrSec>
        <name>KfW</name>
        <lei>549300GDPG70E3MBBU98</lei>
        <title>KREDITANSTALT FUER WIEDERAUFBAU</title>
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          <isin value="DE000A2GSNW0"/>
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        <balance>159000.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>U S DOLLAR</name>
        <lei>N/A</lei>
        <title>U S DOLLAR</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Internal" value="USD_20221025_STATESTREET_26634"/>
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        <balance>185382.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U S TREASURY NOTE</title>
        <cusip>91282CCN9</cusip>
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          <isin value="US91282CCN92"/>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>VISA INC.</name>
        <lei>549300JZ4OKEHW3DPJ59</lei>
        <title>VISA INC</title>
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        <issuerCat>CORP</issuerCat>
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        <name>U S DOLLAR</name>
        <lei>N/A</lei>
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        <name>ASIAN DEVELOPMENT BANK</name>
        <lei>549300X0MVH42CY8Q105</lei>
        <title>ASIAN DEVELOPMENT BANK</title>
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        <invCountry>PH</invCountry>

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        <name>ROCHE HOLDINGS, INC.</name>
        <lei>PVJRP0EQNV6OGDPZGY95</lei>
        <title>ROCHE HOLDING INC</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NEW ZEALAND LOCAL GOVERNMENT FUNDING AGENCY LIMITED</name>
        <lei>254900ZJG39H1CAH6K02</lei>
        <title>NEW ZEALAND LOCAL GOVERNMENT FUNDING AGENCY BOND</title>
        <cusip>N/A</cusip>
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        <name>Province of Alberta</name>
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        <name>COMMONWEALTH BANK OF AUSTRALIA</name>
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        <name>NEDERLANDSE WATERSCHAPSBANK NV</name>
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          <maturityDt>2024-12-16</maturityDt>
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          <annualizedRt>2.00000000</annualizedRt>
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        <name>ASIAN DEVELOPMENT BANK</name>
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          <isin value="XS2521786272"/>
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        <invCountry>US</invCountry>

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          <maturityDt>2024-12-19</maturityDt>
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        <name>U S DOLLAR</name>
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          <other otherDesc="Internal" value="USD_20221025_CITIGROUP_26804"/>
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        <balance>509703.00000000</balance>
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        <valUSD>18032.18000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>KfW</name>
        <lei>549300GDPG70E3MBBU98</lei>
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        <identifiers>
          <isin value="DE000A2DAJ57"/>
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        <balance>400000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="1.02051000"/>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Kommuninvest i Sverige Aktiebolag</name>
        <lei>EV2XZWMLLXF2QRX0CD47</lei>
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        <identifiers>
          <isin value="XS2191421374"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.37500000</annualizedRt>
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        <name>KfW</name>
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          <isin value="AU000KFWHAE5"/>
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          <annualizedRt>3.20000000</annualizedRt>
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        <name>AGENCE FRANCAISE DE DEVELOPPEMENT EPIC</name>
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        <name>Ireland</name>
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        <name>Nederlandse Waterschapsbank N.V.</name>
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        <name>Asian Infrastructure Investment Bank</name>
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        <name>WESTPAC BANKING CORPORATION</name>
        <lei>EN5TNI6CI43VEPAMHL14</lei>
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        <name>Eurofima Europaeische Gesellschaft fuer die Finanzierung von Eisenbahnmaterial</name>
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      <invstOrSec>
        <name>Exportation et developpement Canada</name>
        <lei>Z6MHCSLXHKYG4B6PHW02</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Valtioneuvosto</name>
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          <isin value="FI4000391529"/>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>KommuneKredit</name>
        <lei>529900D8QLTZ6PRLJL76</lei>
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          <isin value="XS2480504542"/>
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      <invstOrSec>
        <name>QUEENSLAND TREASURY CORPORATION</name>
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          <isin value="AU0000XQLQZ9"/>
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      <invstOrSec>
        <name>U S DOLLAR</name>
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          <other otherDesc="Internal" value="USD_20221020_CITIGROUP_26400"/>
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      <invstOrSec>
        <name>WESTPAC BANKING CORPORATION</name>
        <lei>EN5TNI6CI43VEPAMHL14</lei>
        <title>WESTPAC BANKING CORP</title>
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          <isin value="US961214EU39"/>
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        <curCd>USD</curCd>
        <valUSD>925344.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>U S DOLLAR</name>
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          <other otherDesc="Internal" value="USD_20221122_CITIGROUP_26768"/>
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              <counterpartyName>CITIGROUP</counterpartyName>
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      <invstOrSec>
        <name>U S DOLLAR</name>
        <lei>N/A</lei>
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          <other otherDesc="Internal" value="USD_20221118_BOAMERRILLLYNCH_26576"/>
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        <balance>2034532.00000000</balance>
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              <counterpartyName>BOA MERRILL LYNCH</counterpartyName>
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        <name>ROCHE HOLDINGS, INC.</name>
        <lei>PVJRP0EQNV6OGDPZGY95</lei>
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          <isin value="US771196BK70"/>
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        <name>Kommuninvest i Sverige Aktiebolag</name>
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          <isin value="US50046PBW41"/>
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        <name>MERCK &amp; CO., INC.</name>
        <lei>4YV9Y5M8S0BRK1RP0397</lei>
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          <isin value="US58933YAY14"/>
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        <name>Erste Abwicklungsanstalt</name>
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        <name>U S DOLLAR</name>
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        <name>EUROPEAN FINANCIAL STABILITY FACILITY</name>
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        <name>South Australian Government Financing Authority</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>DEXIA CREDIT LOCAL SA</name>
        <lei>F4G136OIPBYND1F41110</lei>
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        <name>UNEDIC</name>
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      <invstOrSec>
        <name>Aktiebolaget Svensk Exportkredit</name>
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        <title>SWEDISH EXPORT CREDIT</title>
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        <curCd>USD</curCd>
        <valUSD>1915916.00000000</valUSD>
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        <name>European Investment Bank</name>
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        <name>BNG BANK N.V.</name>
        <lei>529900GGYMNGRQTDOO93</lei>
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        <name>U S DOLLAR</name>
        <lei>N/A</lei>
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          <other otherDesc="Internal" value="USD_20221025_UBSWARBURG_26577"/>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Republique Francaise</name>
        <lei>969500KCGF3SUYJHPV70</lei>
        <title>FRENCH REPUBLIC GOVERNMENT BOND OAT</title>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Novo Nordisk Finance (Netherlands) B.V.</name>
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        <name>EXXON MOBIL CORPORATION</name>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-06-26</maturityDt>
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          <annualizedRt>0.14200000</annualizedRt>
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        <name>Kommuninvest i Sverige Aktiebolag</name>
        <lei>EV2XZWMLLXF2QRX0CD47</lei>
        <title>KOMMUNINVEST I SVERIGE AB</title>
        <cusip>50046PBY0</cusip>
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          <isin value="US50046PBY07"/>
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        <curCd>USD</curCd>
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          <annualizedRt>2.87500000</annualizedRt>
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      <invstOrSec>
        <name>CHEVRON CORPORATION</name>
        <lei>N/A</lei>
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          <isin value="US166764BW97"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

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        <name>AMAZON.COM, INC.</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
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        <valUSD>1407514.50000000</valUSD>
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        <invCountry>US</invCountry>

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          <annualizedRt>0.45000000</annualizedRt>
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        <name>BANQUE ROYALE DU CANADA</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>ROYAL BANK OF CANADA</title>
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          <isin value="CA780086NK64"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.33300000</annualizedRt>
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        <name>Nordiska Investeringsbanken, Pohjoismaiden Investointipankki NIB, Nordic Investment Bank</name>
        <lei>213800HYL1S7VAXG6Z48</lei>
        <title>NORDIC INVESTMENT BANK</title>
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        <invCountry>FI</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>United States of America</name>
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        <title>U S TREASURY NOTE</title>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>BNG BANK N.V.</name>
        <lei>529900GGYMNGRQTDOO93</lei>
        <title>BNG BANK NV</title>
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        <balance>900000.00000000</balance>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>NOVARTIS CAPITAL CORPORATION</name>
        <lei>5493002KF87V5RSRQS84</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>European Union</name>
        <lei>529900FZRK8FGMPEOM08</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>0.80000000</annualizedRt>
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        <name>Treasury Corporation Of Victoria</name>
        <lei>549300ZJM7BQW1P9UV75</lei>
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          <isin value="AU3SG0002421"/>
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        <balance>8400000.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.56372000"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.50000000</annualizedRt>
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        <name>NEW ZEALAND LOCAL GOVERNMENT FUNDING AGENCY LIMITED</name>
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        <cusip>N/A</cusip>
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          <isin value="NZLGFDT008C2"/>
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        <invCountry>NZ</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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      <invstOrSec>
        <name>Kommuninvest i Sverige Aktiebolag</name>
        <lei>EV2XZWMLLXF2QRX0CD47</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2496002614"/>
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        <balance>1200000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>SE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-01-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Cooperatieve Rabobank UA (New York Branch)</name>
        <lei>N/A</lei>
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        <cusip>21688AAS1</cusip>
        <identifiers>
          <isin value="US21688AAS15"/>
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        <balance>20000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>18416.04000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-01-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.37500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>U S DOLLAR</name>
        <lei>N/A</lei>
        <title>U S DOLLAR</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="USD_20221021_BOAMERRILLLYNCH_26679"/>
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        <balance>455550.00000000</balance>
        <units>OU</units>
        <descOthUnits>Contract Amount</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>7723.93000000</valUSD>
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        <assetCat>DFE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>BOA MERRILL LYNCH</counterpartyName>
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        <securityLending>
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      <invstOrSec>
        <name>NATIONAL AUSTRALIA BANK LIMITED</name>
        <lei>F8SB4JFBSYQFRQEH3Z21</lei>
        <title>NATIONAL AUSTRALIA BANK LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1998797663"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="1.02051000"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>International Bank for Reconstruction and Development</name>
        <lei>ZTMSNXROF84AHWJNKQ93</lei>
        <title>INTERNATIONAL BANK FOR RECONSTRUCTION</title>
        <cusip>459058GQ0</cusip>
        <identifiers>
          <isin value="US459058GQ03"/>
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        <balance>3714000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3623066.42000000</valUSD>
        <pctVal>1.076472121802</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="Supranational" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-03-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>U S DOLLAR</name>
        <lei>N/A</lei>
        <title>U S DOLLAR</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="USD_20221014_HSBC_26941"/>
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        <balance>14309637.00000000</balance>
        <units>OU</units>
        <descOthUnits>Contract Amount</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>82213.15000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>HSBC</counterpartyName>
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            <amtCurSold>14309637.00000000</amtCurSold>
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        <securityLending>
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        <name>STATE OF HESSE</name>
        <lei>N/A</lei>
        <title>STATE OF HESSE</title>
        <cusip>BG4908599</cusip>
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          <isin value="DE000A1RQDR4"/>
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        <balance>200000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="1.02051000"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>U S DOLLAR</name>
        <lei>N/A</lei>
        <title>U S DOLLAR</title>
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          <other otherDesc="Internal" value="USD_20221025_STATESTREET_27133"/>
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      <invstOrSec>
        <name>Koninkrijk der Nederlanden</name>
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        <title>NETHERLANDS GOVERNMENT BOND</title>
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        <name>European Stability Mechanism</name>
        <lei>222100W4EEAQ77386N50</lei>
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          <isin value="EU000A1Z99J2"/>
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        <invCountry>LU</invCountry>

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          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <name>U S DOLLAR</name>
        <lei>N/A</lei>
        <title>U S DOLLAR</title>
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          <other otherDesc="Internal" value="USD_20221128_CITIGROUP_27086"/>
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        <units>OU</units>
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        <valUSD>-29589.82000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

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              <counterpartyName>CITIGROUP</counterpartyName>
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      <invstOrSec>
        <name>DEXIA CREDIT LOCAL SA</name>
        <lei>F4G136OIPBYND1F41110</lei>
        <title>DEXIA CREDIT LOCAL SA</title>
        <cusip>N/A</cusip>
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          <isin value="XS2182067277"/>
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        <balance>900000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Landeskreditbank Baden-Wuerttemberg -Foerderbank-</name>
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        <name>WESTPAC BANKING CORPORATION</name>
        <lei>EN5TNI6CI43VEPAMHL14</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU3CB0234573"/>
        </identifiers>
        <balance>2400000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="AUD" exchangeRt="1.56372000"/>
        <valUSD>1494804.70000000</valUSD>
        <pctVal>0.444130855069</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</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>European Financial Stability Facility SA</name>
        <lei>222100OW6UHQXNHKN143</lei>
        <title>EUROPEAN FINANCIAL STABILITY FACILITY</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="EU000A1G0D62"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="1.02051000"/>
        <valUSD>186775.24000000</valUSD>
        <pctVal>0.055493969912</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="Supranational" issuerCat="OTHER"/>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-02-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.40000000</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>Konungariket Sverige</name>
        <lei>ERE94C0BSULG2RM19605</lei>
        <title>SWEDEN GOVERNMENT BOND</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="SE0005676608"/>
        </identifiers>
        <balance>17000000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="SEK" exchangeRt="11.09190000"/>
        <valUSD>1533155.73000000</valUSD>
        <pctVal>0.455525571547</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>SE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</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>U S DOLLAR</name>
        <lei>N/A</lei>
        <title>U S DOLLAR</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="USD_20221006_CITIGROUP_26190"/>
        </identifiers>
        <balance>4930747.00000000</balance>
        <units>OU</units>
        <descOthUnits>Contract Amount</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>311566.35000000</valUSD>
        <pctVal>0.092571443905</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Forward" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>CITIGROUP</counterpartyName>
              <counterpartyLei>6SHGI4ZSSLCXXQSBB395</counterpartyLei>
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            <amtCurSold>4930747.00000000</amtCurSold>
            <curSold>NZD</curSold>
            <amtCurPur>3069844.13000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2022-10-06</settlementDt>
            <unrealizedAppr>311566.35000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>U S DOLLAR</name>
        <lei>N/A</lei>
        <title>U S DOLLAR</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="USD_20221021_BOAMERRILLLYNCH_26619"/>
        </identifiers>
        <balance>1469748.00000000</balance>
        <units>OU</units>
        <descOthUnits>Contract Amount</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>36292.02000000</valUSD>
        <pctVal>0.010782951026</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Forward" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BOA MERRILL LYNCH</counterpartyName>
              <counterpartyLei>EQYXK86SF381Q21S3020</counterpartyLei>
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            <amtCurSold>1469748.00000000</amtCurSold>
            <curSold>EUR</curSold>
            <amtCurPur>1478619.84000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2022-10-21</settlementDt>
            <unrealizedAppr>36292.02000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Ontario Teachers' Finance Trust</name>
        <lei>635400ZZE5J8OXXBBY26</lei>
        <title>ONTARIO TEACHERS FINANCE TRUST</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2162004209"/>
        </identifiers>
        <balance>950000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="1.02051000"/>
        <valUSD>875294.71000000</valUSD>
        <pctVal>0.260064333481</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-06</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INTER AMERICAN DEVELOPMENT BANK</name>
        <lei>N/A</lei>
        <title>INTER AMERICAN DEVELOPMENT BANK</title>
        <cusip>EK3017432</cusip>
        <identifiers>
          <isin value="AU3CB0221661"/>
        </identifiers>
        <balance>300000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="AUD" exchangeRt="1.56372000"/>
        <valUSD>190459.29000000</valUSD>
        <pctVal>0.056588561250</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</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>KOMMUNALBANKEN AS</name>
        <lei>N/A</lei>
        <title>KOMMUNALBANKEN AS</title>
        <cusip>ZP2999750</cusip>
        <identifiers>
          <isin value="XS2100849756"/>
        </identifiers>
        <balance>150000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.89582000"/>
        <valUSD>153967.09000000</valUSD>
        <pctVal>0.045746133481</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-12-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.00000000</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>KOMMUNALBANKEN AS</name>
        <lei>I7ETN0QQO2AHZZGHJ389</lei>
        <title>KOMMUNALBANKEN AS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2014307800"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>960910.00000000</valUSD>
        <pctVal>0.285502032436</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="non-U.S. government agency" issuerCat="OTHER"/>
        <invCountry>NO</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-06-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</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>FMS Wertmanagement</name>
        <lei>HZFDOR6TCRSIQLKQTX32</lei>
        <title>FMS WERTMANAGEMENT</title>
        <cusip>30254WAP4</cusip>
        <identifiers>
          <isin value="US30254WAP41"/>
        </identifiers>
        <balance>205000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>200800.58000000</valUSD>
        <pctVal>0.059661127165</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="non-U.S. government agency" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-01-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</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>DEXIA CREDIT LOCAL SA</name>
        <lei>F4G136OIPBYND1F41110</lei>
        <title>DEXIA CREDIT LOCAL SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2328877704"/>
        </identifiers>
        <balance>1466000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1299164.80000000</valUSD>
        <pctVal>0.386003050097</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.12500000</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>INTER AMERICAN DEVELOPMENT BANK</name>
        <lei>VKU1UKDS9E7LYLMACP54</lei>
        <title>INTER AMERICAN DEVELOPMENT BANK</title>
        <cusip>4581X0CF3</cusip>
        <identifiers>
          <isin value="US4581X0CF37"/>
        </identifiers>
        <balance>454000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>445868.86000000</valUSD>
        <pctVal>0.132474909960</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="Supranational" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-02-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</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>U S DOLLAR</name>
        <lei>N/A</lei>
        <title>U S DOLLAR</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="USD_20221122_STATESTREET_26901"/>
        </identifiers>
        <balance>627207.00000000</balance>
        <units>OU</units>
        <descOthUnits>Contract Amount</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>20413.53000000</valUSD>
        <pctVal>0.006065192686</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Forward" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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              <counterpartyName>STATE STREET</counterpartyName>
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            <amtCurSold>627207.00000000</amtCurSold>
            <curSold>EUR</curSold>
            <amtCurPur>637314.88000000</amtCurPur>
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            <settlementDt>2022-11-22</settlementDt>
            <unrealizedAppr>20413.53000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DENMARK GOVERNMENT BOND</name>
        <lei>N/A</lei>
        <title>DENMARK GOVERNMENT BOND</title>
        <cusip>BP0924236</cusip>
        <identifiers>
          <isin value="DK0009924292"/>
        </identifiers>
        <balance>66000000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="DKK" exchangeRt="7.58510000"/>
        <valUSD>8327898.12000000</valUSD>
        <pctVal>2.474354350751</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-11-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</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>AGENCE FRANCAISE DE DEVELOPPEMENT EPIC</name>
        <lei>9695008K5N8MKIT4XJ91</lei>
        <title>AGENCE FRANCAISE DE DEVELOPPEMENT EPIC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0013483526"/>
        </identifiers>
        <balance>1200000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="1.02051000"/>
        <valUSD>1111573.62000000</valUSD>
        <pctVal>0.330266651104</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="non-U.S. government agency" issuerCat="OTHER"/>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-25</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Province of Ontario, Canada</name>
        <lei>C7PVKCRGLG18EBQGZV36</lei>
        <title>PROVINCE OF ONTARIO CANADA</title>
        <cusip>68323AFC3</cusip>
        <identifiers>
          <isin value="US68323AFC36"/>
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        <balance>2400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2356953.60000000</valUSD>
        <pctVal>0.700289354005</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="Provincial" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-01-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.05000000</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>NATIONAL AUSTRALIA BANK LIMITED</name>
        <lei>F8SB4JFBSYQFRQEH3Z21</lei>
        <title>NATIONAL AUSTRALIA BANK LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU3CB0286763"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="AUD" exchangeRt="1.56372000"/>
        <valUSD>293294.20000000</valUSD>
        <pctVal>0.087142490141</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>2.90000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>European Investment Bank</name>
        <lei>5493006YXS1U5GIHE750</lei>
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          <isin value="XS1247736793"/>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-09-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.87500000</annualizedRt>
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      <invstOrSec>
        <name>CPPIB CAPITAL INC.</name>
        <lei>549300KW9NB55HTDK075</lei>
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          <isin value="US22411WAM82"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>923340.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-03-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Aktiebolaget Svensk Exportkredit</name>
        <lei>1FOLRR5RWTWWI397R131</lei>
        <title>SWEDISH EXPORT CREDIT</title>
        <cusip>00254ENA6</cusip>
        <identifiers>
          <isin value="US00254ENA63"/>
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        <balance>2800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2606156.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>SE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-07-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.37500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LA BANQUE TORONTO-DOMINION</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>TORONTO DOMINION BANK THE</title>
        <cusip>89114QCP1</cusip>
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          <isin value="US89114QCP19"/>
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        <balance>3315000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2880197.97000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-01-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New South Wales Treasury Corporation</name>
        <lei>TC7LRO17HPNPLTAV0H77</lei>
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          <isin value="AU3SG0001373"/>
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        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bpifrance SA</name>
        <lei>969500STN7T9MRUMJ267</lei>
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          <isin value="FR0013244415"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-11-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KommuneKredit</name>
        <lei>529900D8QLTZ6PRLJL76</lei>
        <title>KOMMUNEKREDIT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2434510785"/>
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        <balance>1300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1250509.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>DK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Nordiska Investeringsbanken, Pohjoismaiden Investointipankki NIB, Nordic Investment Bank</name>
        <lei>213800HYL1S7VAXG6Z48</lei>
        <title>NORDIC INVESTMENT BANK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1185971923"/>
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        <balance>4000000.00000000</balance>
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        <currencyConditional curCd="NOK" exchangeRt="10.88270000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>FI</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-03-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
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      <invstOrSec>
        <name>United Kingdom of Great Britain and Northern Ireland</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
        <title>UNITED KINGDOM GILT</title>
        <cusip>N/A</cusip>
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          <isin value="GB00BMGR2791"/>
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        <balance>2100000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.12500000</annualizedRt>
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      <invstOrSec>
        <name>LA BANQUE TORONTO-DOMINION</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>TORONTO DOMINION BANK THE</title>
        <cusip>891160LV3</cusip>
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          <isin value="CA891160LV34"/>
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        <balance>2500000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-07-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.90900000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Banque de Developpement du Conseil de l Europe</name>
        <lei>549300UYNXMI821WYG82</lei>
        <title>COUNCIL OF EUROPE DEVELOPMENT BANK</title>
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          <isin value="XS1799045197"/>
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        <balance>438000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="1.02051000"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-03-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.37500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>U S DOLLAR</name>
        <lei>N/A</lei>
        <title>U S DOLLAR</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Internal" value="USD_20221006_STATESTREET_25924"/>
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        <assetCat>DFE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>International Bank for Reconstruction and Development</name>
        <lei>ZTMSNXROF84AHWJNKQ93</lei>
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          <isin value="CA459058GJ61"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <name>U S DOLLAR</name>
        <lei>N/A</lei>
        <title>U S DOLLAR</title>
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          <other otherDesc="Internal" value="USD_20221011_BNYCAPITALMARKETS_26852"/>
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        <name>Province of Alberta</name>
        <lei>LQPXMHHNJKIPJYE53543</lei>
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          <isin value="XS2156776309"/>
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        <currencyConditional curCd="EUR" exchangeRt="1.02051000"/>
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        <assetCat>DBT</assetCat>
        <issuerConditional desc="Provincial" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SANOFI SA</name>
        <lei>549300E9PC51EN656011</lei>
        <title>SANOFI</title>
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        <balance>100000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-04-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2022-10-31</ncom:dateSigned>
      <ncom:nameOfApplicant>Allianz Variable Insurance Products Trust</ncom:nameOfApplicant>
      <ncom:signature>Bashir C. Asad</ncom:signature>
      <ncom:signerName>Bashir C. Asad</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
