<informationTable xmlns="http://www.sec.gov/edgar/document/thirteenf/informationtable">		<infoTable>
			<nameOfIssuer>Aflac Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>001055102</cusip>
			<value>6524</value>
			<shrsOrPrnAmt>
				<sshPrnamt>149089</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>149089</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AT&amp;T Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00206R102</cusip>
			<value>36389</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1020723</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>1020723</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Abbott Laboratories</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>002824100</cusip>
			<value>17621</value>
			<shrsOrPrnAmt>
				<sshPrnamt>294069</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>294069</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AbbVie Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00287Y109</cusip>
			<value>29021</value>
			<shrsOrPrnAmt>
				<sshPrnamt>306618</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>306618</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Activision Blizzard Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00507V109</cusip>
			<value>9864</value>
			<shrsOrPrnAmt>
				<sshPrnamt>146213</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>146213</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Adobe Systems Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00724F101</cusip>
			<value>23103</value>
			<shrsOrPrnAmt>
				<sshPrnamt>106917</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>106917</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Advance Auto Parts Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00751Y106</cusip>
			<value>3932</value>
			<shrsOrPrnAmt>
				<sshPrnamt>33170</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>33170</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Aetna Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00817Y108</cusip>
			<value>7325</value>
			<shrsOrPrnAmt>
				<sshPrnamt>43343</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>43343</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Agilent Technologies Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00846U101</cusip>
			<value>3408</value>
			<shrsOrPrnAmt>
				<sshPrnamt>50935</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>50935</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Air Products &amp; Chemicals Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>009158106</cusip>
			<value>8481</value>
			<shrsOrPrnAmt>
				<sshPrnamt>53327</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>53327</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Akamai Technologies Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00971T101</cusip>
			<value>3897</value>
			<shrsOrPrnAmt>
				<sshPrnamt>54904</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>54904</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Alcoa Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>013872106</cusip>
			<value>2122</value>
			<shrsOrPrnAmt>
				<sshPrnamt>47193</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>47193</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Alexandria Real Estate Equities Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>015271109</cusip>
			<value>5665</value>
			<shrsOrPrnAmt>
				<sshPrnamt>45363</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>45363</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Alexion Pharmaceuticals Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>015351109</cusip>
			<value>5495</value>
			<shrsOrPrnAmt>
				<sshPrnamt>49299</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>49299</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Alibaba Group Holding Ltd</nameOfIssuer>
			<titleOfClass>SPONSORED ADS</titleOfClass>
			<cusip>01609W102</cusip>
			<value>17910</value>
			<shrsOrPrnAmt>
				<sshPrnamt>97583</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>97583</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Align Technology Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>016255101</cusip>
			<value>4360</value>
			<shrsOrPrnAmt>
				<sshPrnamt>17360</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>17360</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Alliant Energy Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>018802108</cusip>
			<value>3568</value>
			<shrsOrPrnAmt>
				<sshPrnamt>87311</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>87311</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Allstate Corp/The</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>020002101</cusip>
			<value>7071</value>
			<shrsOrPrnAmt>
				<sshPrnamt>74586</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>74586</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Alphabet Inc</nameOfIssuer>
			<titleOfClass>CAP STK CL C</titleOfClass>
			<cusip>02079K107</cusip>
			<value>47887</value>
			<shrsOrPrnAmt>
				<sshPrnamt>46412</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>46412</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Alphabet Inc</nameOfIssuer>
			<titleOfClass>CAP STK CL A</titleOfClass>
			<cusip>02079K305</cusip>
			<value>59166</value>
			<shrsOrPrnAmt>
				<sshPrnamt>57047</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>57047</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Altria Group Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>02209S103</cusip>
			<value>18960</value>
			<shrsOrPrnAmt>
				<sshPrnamt>304239</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>304239</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Amazon.com Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>023135106</cusip>
			<value>98292</value>
			<shrsOrPrnAmt>
				<sshPrnamt>67912</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>67912</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Ambev SA</nameOfIssuer>
			<titleOfClass>SPONSORED ADR</titleOfClass>
			<cusip>02319V103</cusip>
			<value>1451</value>
			<shrsOrPrnAmt>
				<sshPrnamt>199542</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>199542</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Ameren Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>023608102</cusip>
			<value>2366</value>
			<shrsOrPrnAmt>
				<sshPrnamt>41782</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>41782</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>America Movil SAB de CV</nameOfIssuer>
			<titleOfClass>SPON ADR L SHS</titleOfClass>
			<cusip>02364W105</cusip>
			<value>1043</value>
			<shrsOrPrnAmt>
				<sshPrnamt>54616</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>54616</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>American Airlines Group Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>02376R102</cusip>
			<value>1834</value>
			<shrsOrPrnAmt>
				<sshPrnamt>35288</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>35288</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>American Electric Power Co Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>025537101</cusip>
			<value>6228</value>
			<shrsOrPrnAmt>
				<sshPrnamt>90798</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>90798</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>American Express Co</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>025816109</cusip>
			<value>10717</value>
			<shrsOrPrnAmt>
				<sshPrnamt>114896</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>114896</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>American Financial Group Inc/OH</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>025932104</cusip>
			<value>1145</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>10200</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>American International Group Inc</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>026874784</cusip>
			<value>7798</value>
			<shrsOrPrnAmt>
				<sshPrnamt>143289</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>143289</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>American States Water Co</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>029899101</cusip>
			<value>791</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>14900</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>American Tower Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>03027X100</cusip>
			<value>12538</value>
			<shrsOrPrnAmt>
				<sshPrnamt>86270</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>86270</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>American Water Works Co Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>030420103</cusip>
			<value>5204</value>
			<shrsOrPrnAmt>
				<sshPrnamt>63358</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>63358</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AmerisourceBergen Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>03073E105</cusip>
			<value>2204</value>
			<shrsOrPrnAmt>
				<sshPrnamt>25567</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>25567</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Ameriprise Financial Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>03076C106</cusip>
			<value>3887</value>
			<shrsOrPrnAmt>
				<sshPrnamt>26275</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>26275</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMETEK Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>031100100</cusip>
			<value>4561</value>
			<shrsOrPrnAmt>
				<sshPrnamt>60038</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>60038</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Amgen Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>031162100</cusip>
			<value>22238</value>
			<shrsOrPrnAmt>
				<sshPrnamt>130442</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>130442</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Amphenol Corp</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>032095101</cusip>
			<value>5008</value>
			<shrsOrPrnAmt>
				<sshPrnamt>58145</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>58145</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Anadarko Petroleum Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>032511107</cusip>
			<value>13757</value>
			<shrsOrPrnAmt>
				<sshPrnamt>227732</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>227732</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Analog Devices Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>032654105</cusip>
			<value>6682</value>
			<shrsOrPrnAmt>
				<sshPrnamt>73324</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>73324</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Anthem Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>036752103</cusip>
			<value>8843</value>
			<shrsOrPrnAmt>
				<sshPrnamt>40250</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>40250</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Apple Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>037833100</cusip>
			<value>140</value>
			<shrsOrPrnAmt>
				<sshPrnamt>835</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>835</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Apple Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>037833100</cusip>
			<value>146452</value>
			<shrsOrPrnAmt>
				<sshPrnamt>872879</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>872879</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Applied Materials Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>038222105</cusip>
			<value>12788</value>
			<shrsOrPrnAmt>
				<sshPrnamt>229950</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>229950</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Aqua America Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>03836W103</cusip>
			<value>872</value>
			<shrsOrPrnAmt>
				<sshPrnamt>25600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>25600</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Archer-Daniels-Midland Co</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>039483102</cusip>
			<value>4985</value>
			<shrsOrPrnAmt>
				<sshPrnamt>114940</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>114940</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Arista Networks Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>040413106</cusip>
			<value>3085</value>
			<shrsOrPrnAmt>
				<sshPrnamt>12084</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>12084</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Associated Banc-Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>045487105</cusip>
			<value>837</value>
			<shrsOrPrnAmt>
				<sshPrnamt>33700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>33700</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Atmos Energy Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>049560105</cusip>
			<value>1137</value>
			<shrsOrPrnAmt>
				<sshPrnamt>13500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>13500</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Autodesk Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>052769106</cusip>
			<value>5486</value>
			<shrsOrPrnAmt>
				<sshPrnamt>43687</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>43687</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Autohome Inc</nameOfIssuer>
			<titleOfClass>SP ADR RP CL A</titleOfClass>
			<cusip>05278C107</cusip>
			<value>3072</value>
			<shrsOrPrnAmt>
				<sshPrnamt>35748</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>35748</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Autoliv Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>052800109</cusip>
			<value>4251</value>
			<shrsOrPrnAmt>
				<sshPrnamt>29127</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>29127</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Automatic Data Processing Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>053015103</cusip>
			<value>8479</value>
			<shrsOrPrnAmt>
				<sshPrnamt>74715</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>74715</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Avangrid Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>05351W103</cusip>
			<value>7000</value>
			<shrsOrPrnAmt>
				<sshPrnamt>136933</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>136933</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Avery Dennison Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>053611109</cusip>
			<value>3457</value>
			<shrsOrPrnAmt>
				<sshPrnamt>32541</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>32541</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BB&amp;T Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>054937107</cusip>
			<value>1665</value>
			<shrsOrPrnAmt>
				<sshPrnamt>32000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>32000</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Bank of America Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>060505104</cusip>
			<value>51727</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1724814</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>1724814</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Bank of Hawaii Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>062540109</cusip>
			<value>947</value>
			<shrsOrPrnAmt>
				<sshPrnamt>11400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>11400</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Bank of Montreal</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>063671101</cusip>
			<value>1283</value>
			<shrsOrPrnAmt>
				<sshPrnamt>17000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>17000</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Bank of Nova Scotia/The</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>064149107</cusip>
			<value>1299</value>
			<shrsOrPrnAmt>
				<sshPrnamt>21100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>21100</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BankUnited Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>06652K103</cusip>
			<value>812</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>20300</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Baxter International Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>071813109</cusip>
			<value>6346</value>
			<shrsOrPrnAmt>
				<sshPrnamt>97578</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>97578</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Becton Dickinson and Co</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>075887109</cusip>
			<value>10177</value>
			<shrsOrPrnAmt>
				<sshPrnamt>46963</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>46963</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Bemis Co Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>081437105</cusip>
			<value>783</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>18000</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Berkshire Hathaway Inc</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>084670108</cusip>
			<value>44566</value>
			<shrsOrPrnAmt>
				<sshPrnamt>149</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>149</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Berkshire Hathaway Inc</nameOfIssuer>
			<titleOfClass>CL B NEW</titleOfClass>
			<cusip>084670702</cusip>
			<value>14566</value>
			<shrsOrPrnAmt>
				<sshPrnamt>73020</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>73020</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Best Buy Co Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>086516101</cusip>
			<value>2826</value>
			<shrsOrPrnAmt>
				<sshPrnamt>40374</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>40374</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BEST Inc</nameOfIssuer>
			<titleOfClass>SPONSORED ADS</titleOfClass>
			<cusip>08653C106</cusip>
			<value>2359</value>
			<shrsOrPrnAmt>
				<sshPrnamt>229065</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>229065</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Biogen Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>09062X103</cusip>
			<value>9325</value>
			<shrsOrPrnAmt>
				<sshPrnamt>34054</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>34054</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Black Hills Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>092113109</cusip>
			<value>1401</value>
			<shrsOrPrnAmt>
				<sshPrnamt>25800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>25800</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BlackRock Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>09247X101</cusip>
			<value>13603</value>
			<shrsOrPrnAmt>
				<sshPrnamt>25111</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>25111</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Boeing Co/The</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>097023105</cusip>
			<value>29578</value>
			<shrsOrPrnAmt>
				<sshPrnamt>90210</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>90210</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Booking Holdings Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>09857L108</cusip>
			<value>16298</value>
			<shrsOrPrnAmt>
				<sshPrnamt>7834</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>7834</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Booz Allen Hamilton Holding Corp</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>099502106</cusip>
			<value>1460</value>
			<shrsOrPrnAmt>
				<sshPrnamt>37700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>37700</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Boston Private Financial Holdings Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>101119105</cusip>
			<value>963</value>
			<shrsOrPrnAmt>
				<sshPrnamt>64000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>64000</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Boston Scientific Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>101137107</cusip>
			<value>5879</value>
			<shrsOrPrnAmt>
				<sshPrnamt>215193</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>215193</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Briggs &amp; Stratton Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>109043109</cusip>
			<value>953</value>
			<shrsOrPrnAmt>
				<sshPrnamt>44500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>44500</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Bristol-Myers Squibb Co</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>110122108</cusip>
			<value>18893</value>
			<shrsOrPrnAmt>
				<sshPrnamt>298697</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>298697</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Brookline Bancorp Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>11373M107</cusip>
			<value>962</value>
			<shrsOrPrnAmt>
				<sshPrnamt>59400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>59400</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Brown-Forman Corp</nameOfIssuer>
			<titleOfClass>CL B</titleOfClass>
			<cusip>115637209</cusip>
			<value>2185</value>
			<shrsOrPrnAmt>
				<sshPrnamt>40163</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>40163</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CBS Corp</nameOfIssuer>
			<titleOfClass>CL B</titleOfClass>
			<cusip>124857202</cusip>
			<value>2565</value>
			<shrsOrPrnAmt>
				<sshPrnamt>49920</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>49920</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CBRE Group Inc</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>12504L109</cusip>
			<value>7630</value>
			<shrsOrPrnAmt>
				<sshPrnamt>161589</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>161589</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CF Industries Holdings Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>125269100</cusip>
			<value>1538</value>
			<shrsOrPrnAmt>
				<sshPrnamt>40769</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>40769</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CH Robinson Worldwide Inc</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>12541W209</cusip>
			<value>2079</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22188</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>22188</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Cigna Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>125509109</cusip>
			<value>5143</value>
			<shrsOrPrnAmt>
				<sshPrnamt>30663</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>30663</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CME Group Inc</nameOfIssuer>
			<titleOfClass>COM CL A</titleOfClass>
			<cusip>12572Q105</cusip>
			<value>11321</value>
			<shrsOrPrnAmt>
				<sshPrnamt>69995</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>69995</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CMS Energy Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>125896100</cusip>
			<value>4323</value>
			<shrsOrPrnAmt>
				<sshPrnamt>95458</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>95458</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CSX Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>126408103</cusip>
			<value>9119</value>
			<shrsOrPrnAmt>
				<sshPrnamt>163688</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>163688</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CVS Health Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>126650100</cusip>
			<value>9839</value>
			<shrsOrPrnAmt>
				<sshPrnamt>158159</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>158159</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CA Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>12673P105</cusip>
			<value>3</value>
			<shrsOrPrnAmt>
				<sshPrnamt>76</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>76</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Campbell Soup Co</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>134429109</cusip>
			<value>1208</value>
			<shrsOrPrnAmt>
				<sshPrnamt>27900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>27900</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Canadian National Railway Co</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>136375102</cusip>
			<value>759</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>10400</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Capital One Financial Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>14040H105</cusip>
			<value>7957</value>
			<shrsOrPrnAmt>
				<sshPrnamt>83040</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>83040</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Cardinal Health Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>14149Y108</cusip>
			<value>3872</value>
			<shrsOrPrnAmt>
				<sshPrnamt>61769</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>61769</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Carnival Corp</nameOfIssuer>
			<titleOfClass>UNIT 99/99/9999</titleOfClass>
			<cusip>143658300</cusip>
			<value>13710</value>
			<shrsOrPrnAmt>
				<sshPrnamt>209065</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>209065</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Caterpillar Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>149123101</cusip>
			<value>18699</value>
			<shrsOrPrnAmt>
				<sshPrnamt>126877</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>126877</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Cathay General Bancorp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>149150104</cusip>
			<value>796</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>19900</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Celgene Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>151020104</cusip>
			<value>10003</value>
			<shrsOrPrnAmt>
				<sshPrnamt>112132</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>112132</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Centene Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>15135B101</cusip>
			<value>6420</value>
			<shrsOrPrnAmt>
				<sshPrnamt>60073</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>60073</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CenturyLink Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>156700106</cusip>
			<value>3249</value>
			<shrsOrPrnAmt>
				<sshPrnamt>197749</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>197749</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Charter Communications Inc</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>16119P108</cusip>
			<value>9149</value>
			<shrsOrPrnAmt>
				<sshPrnamt>29397</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>29397</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Cheesecake Factory Inc/The</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>163072101</cusip>
			<value>993</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>20600</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Cheniere Energy Inc</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>16411R208</cusip>
			<value>5588</value>
			<shrsOrPrnAmt>
				<sshPrnamt>104542</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>104542</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Chevron Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>166764100</cusip>
			<value>37728</value>
			<shrsOrPrnAmt>
				<sshPrnamt>330832</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>330832</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>China Lodging Group Ltd</nameOfIssuer>
			<titleOfClass>SPONSORED ADR</titleOfClass>
			<cusip>16949N109</cusip>
			<value>2787</value>
			<shrsOrPrnAmt>
				<sshPrnamt>21158</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>21158</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Church &amp; Dwight Co Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>171340102</cusip>
			<value>3502</value>
			<shrsOrPrnAmt>
				<sshPrnamt>69544</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>69544</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Cinemark Holdings Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>17243V102</cusip>
			<value>1123</value>
			<shrsOrPrnAmt>
				<sshPrnamt>29800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>29800</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Cisco Systems Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>17275R102</cusip>
			<value>39029</value>
			<shrsOrPrnAmt>
				<sshPrnamt>909985</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>909985</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Cintas Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>172908105</cusip>
			<value>3281</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19233</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>19233</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Citigroup Inc</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>172967424</cusip>
			<value>29752</value>
			<shrsOrPrnAmt>
				<sshPrnamt>440775</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>440775</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>City Holding Co</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>177835105</cusip>
			<value>850</value>
			<shrsOrPrnAmt>
				<sshPrnamt>12400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>12400</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Clorox Co/The</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>189054109</cusip>
			<value>1745</value>
			<shrsOrPrnAmt>
				<sshPrnamt>13109</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>13109</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Coca-Cola Co/The</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>191216100</cusip>
			<value>28563</value>
			<shrsOrPrnAmt>
				<sshPrnamt>657681</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>657681</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Cognizant Technology Solutions Corp</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>192446102</cusip>
			<value>9100</value>
			<shrsOrPrnAmt>
				<sshPrnamt>113042</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>113042</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Colgate-Palmolive Co</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>194162103</cusip>
			<value>10280</value>
			<shrsOrPrnAmt>
				<sshPrnamt>143418</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>143418</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Columbia Banking System Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>197236102</cusip>
			<value>831</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>19800</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Comcast Corp</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>20030N101</cusip>
			<value>25807</value>
			<shrsOrPrnAmt>
				<sshPrnamt>755239</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>755239</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Comerica Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>200340107</cusip>
			<value>4828</value>
			<shrsOrPrnAmt>
				<sshPrnamt>50328</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>50328</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Community Bank System Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>203607106</cusip>
			<value>884</value>
			<shrsOrPrnAmt>
				<sshPrnamt>16500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>16500</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Conagra Brands Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>205887102</cusip>
			<value>2028</value>
			<shrsOrPrnAmt>
				<sshPrnamt>54997</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>54997</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Concho Resources Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>20605P101</cusip>
			<value>11169</value>
			<shrsOrPrnAmt>
				<sshPrnamt>74295</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>74295</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ConocoPhillips</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>20825C104</cusip>
			<value>18337</value>
			<shrsOrPrnAmt>
				<sshPrnamt>309272</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>309272</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Constellation Brands Inc</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>21036P108</cusip>
			<value>8707</value>
			<shrsOrPrnAmt>
				<sshPrnamt>38202</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>38202</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Costco Wholesale Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>22160K105</cusip>
			<value>13075</value>
			<shrsOrPrnAmt>
				<sshPrnamt>69389</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>69389</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Crown Castle International Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>22822V101</cusip>
			<value>11638</value>
			<shrsOrPrnAmt>
				<sshPrnamt>106181</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>106181</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Cullen/Frost Bankers Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>229899109</cusip>
			<value>1782</value>
			<shrsOrPrnAmt>
				<sshPrnamt>16800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>16800</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Cummins Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>231021106</cusip>
			<value>6315</value>
			<shrsOrPrnAmt>
				<sshPrnamt>38958</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>38958</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DR Horton Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>23331A109</cusip>
			<value>2394</value>
			<shrsOrPrnAmt>
				<sshPrnamt>54599</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>54599</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DTE Energy Co</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>233331107</cusip>
			<value>5960</value>
			<shrsOrPrnAmt>
				<sshPrnamt>57092</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>57092</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DXC Technology Co</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>23355L106</cusip>
			<value>6931</value>
			<shrsOrPrnAmt>
				<sshPrnamt>68943</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>68943</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Danaher Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>235851102</cusip>
			<value>11086</value>
			<shrsOrPrnAmt>
				<sshPrnamt>113227</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>113227</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Darden Restaurants Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>237194105</cusip>
			<value>1781</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20892</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>20892</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Deere &amp; Co</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>244199105</cusip>
			<value>9239</value>
			<shrsOrPrnAmt>
				<sshPrnamt>59485</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>59485</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Delta Air Lines Inc</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>247361702</cusip>
			<value>2820</value>
			<shrsOrPrnAmt>
				<sshPrnamt>51450</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>51450</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Diamondback Energy Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>25278X109</cusip>
			<value>184</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1457</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>1457</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Walt Disney Co/The</nameOfIssuer>
			<titleOfClass>COM DISNEY</titleOfClass>
			<cusip>254687106</cusip>
			<value>24410</value>
			<shrsOrPrnAmt>
				<sshPrnamt>243034</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>243034</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Discover Financial Services</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>254709108</cusip>
			<value>5283</value>
			<shrsOrPrnAmt>
				<sshPrnamt>73442</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>73442</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Dollar General Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>256677105</cusip>
			<value>4667</value>
			<shrsOrPrnAmt>
				<sshPrnamt>49887</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>49887</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Dollar Tree Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>256746108</cusip>
			<value>3275</value>
			<shrsOrPrnAmt>
				<sshPrnamt>34509</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>34509</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Domino&apos;s Pizza Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>25754A201</cusip>
			<value>4678</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20027</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>20027</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Dover Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>260003108</cusip>
			<value>5135</value>
			<shrsOrPrnAmt>
				<sshPrnamt>52278</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>52278</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DowDuPont Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>26078J100</cusip>
			<value>24765</value>
			<shrsOrPrnAmt>
				<sshPrnamt>388708</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>388708</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Dr Pepper Snapple Group Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>26138E109</cusip>
			<value>4342</value>
			<shrsOrPrnAmt>
				<sshPrnamt>36679</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>36679</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Duke Energy Corp</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>26441C204</cusip>
			<value>11158</value>
			<shrsOrPrnAmt>
				<sshPrnamt>144029</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>144029</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EOG Resources Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>26875P101</cusip>
			<value>15271</value>
			<shrsOrPrnAmt>
				<sshPrnamt>145064</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>145064</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>E Trade Financial Corp</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>269246401</cusip>
			<value>4364</value>
			<shrsOrPrnAmt>
				<sshPrnamt>78760</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>78760</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Eastman Chemical Co</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>277432100</cusip>
			<value>6631</value>
			<shrsOrPrnAmt>
				<sshPrnamt>62804</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>62804</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>eBay Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>278642103</cusip>
			<value>8532</value>
			<shrsOrPrnAmt>
				<sshPrnamt>212034</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>212034</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Edison International</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>281020107</cusip>
			<value>5206</value>
			<shrsOrPrnAmt>
				<sshPrnamt>81778</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>81778</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Edwards Lifesciences Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>28176E108</cusip>
			<value>7211</value>
			<shrsOrPrnAmt>
				<sshPrnamt>51685</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>51685</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>El Paso Electric Co</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>283677854</cusip>
			<value>944</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>18500</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Electronic Arts Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>285512109</cusip>
			<value>8921</value>
			<shrsOrPrnAmt>
				<sshPrnamt>73583</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>73583</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Emerson Electric Co</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>291011104</cusip>
			<value>7849</value>
			<shrsOrPrnAmt>
				<sshPrnamt>114913</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>114913</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Entercom Communications Corp</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>293639100</cusip>
			<value>1224</value>
			<shrsOrPrnAmt>
				<sshPrnamt>126800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>126800</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Equinix Inc</nameOfIssuer>
			<titleOfClass>COM PAR $0.001</titleOfClass>
			<cusip>29444U700</cusip>
			<value>5061</value>
			<shrsOrPrnAmt>
				<sshPrnamt>12104</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>12104</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Essex Property Trust Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>297178105</cusip>
			<value>10715</value>
			<shrsOrPrnAmt>
				<sshPrnamt>44520</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>44520</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Eversource Energy</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>30040W108</cusip>
			<value>1119</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>19000</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Exelon Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>30161N101</cusip>
			<value>13148</value>
			<shrsOrPrnAmt>
				<sshPrnamt>337033</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>337033</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Expeditors International of Washington Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>302130109</cusip>
			<value>2543</value>
			<shrsOrPrnAmt>
				<sshPrnamt>40169</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>40169</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Express Scripts Holding Co</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>30219G108</cusip>
			<value>5583</value>
			<shrsOrPrnAmt>
				<sshPrnamt>80821</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>80821</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Extra Space Storage Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>30225T102</cusip>
			<value>6443</value>
			<shrsOrPrnAmt>
				<sshPrnamt>73755</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>73755</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Exxon Mobil Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>30231G102</cusip>
			<value>50705</value>
			<shrsOrPrnAmt>
				<sshPrnamt>679598</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>679598</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FNB Corp/PA</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>302520101</cusip>
			<value>1196</value>
			<shrsOrPrnAmt>
				<sshPrnamt>88900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>88900</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Facebook Inc</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>30303M102</cusip>
			<value>64276</value>
			<shrsOrPrnAmt>
				<sshPrnamt>402253</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>402253</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Fastenal Co</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>311900104</cusip>
			<value>5125</value>
			<shrsOrPrnAmt>
				<sshPrnamt>93876</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>93876</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Federated Investors Inc</nameOfIssuer>
			<titleOfClass>CL B</titleOfClass>
			<cusip>314211103</cusip>
			<value>1283</value>
			<shrsOrPrnAmt>
				<sshPrnamt>38400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>38400</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FedEx Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>31428X106</cusip>
			<value>11453</value>
			<shrsOrPrnAmt>
				<sshPrnamt>47699</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>47699</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>F5 Networks Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>315616102</cusip>
			<value>2955</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20435</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>20435</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Fidelity National Information Services Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>31620M106</cusip>
			<value>5806</value>
			<shrsOrPrnAmt>
				<sshPrnamt>60286</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>60286</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FNF Group</nameOfIssuer>
			<titleOfClass>FNF GROUP COM</titleOfClass>
			<cusip>31620R303</cusip>
			<value>1013</value>
			<shrsOrPrnAmt>
				<sshPrnamt>25300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>25300</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Fifth Third Bancorp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>316773100</cusip>
			<value>5738</value>
			<shrsOrPrnAmt>
				<sshPrnamt>180720</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>180720</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>First American Financial Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>31847R102</cusip>
			<value>1455</value>
			<shrsOrPrnAmt>
				<sshPrnamt>24800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>24800</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>First Commonwealth Financial Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>319829107</cusip>
			<value>794</value>
			<shrsOrPrnAmt>
				<sshPrnamt>56200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>56200</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>First Financial Bancorp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>320209109</cusip>
			<value>989</value>
			<shrsOrPrnAmt>
				<sshPrnamt>33700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>33700</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FEP  - FIRST TRUST EUROPE</nameOfIssuer>
			<titleOfClass>EUROPE ALPHADEX</titleOfClass>
			<cusip>33737J117</cusip>
			<value>2336</value>
			<shrsOrPrnAmt>
				<sshPrnamt>58300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>58300</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Fiserv Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>337738108</cusip>
			<value>6967</value>
			<shrsOrPrnAmt>
				<sshPrnamt>97694</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>97694</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FirstEnergy Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>337932107</cusip>
			<value>5746</value>
			<shrsOrPrnAmt>
				<sshPrnamt>168936</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>168936</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Five Below Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>33829M101</cusip>
			<value>1034</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>14100</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Foot Locker Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>344849104</cusip>
			<value>815</value>
			<shrsOrPrnAmt>
				<sshPrnamt>17900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>17900</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Ford Motor Co</nameOfIssuer>
			<titleOfClass>COM PAR $0.01</titleOfClass>
			<cusip>345370860</cusip>
			<value>8472</value>
			<shrsOrPrnAmt>
				<sshPrnamt>764591</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>764591</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Fortive Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>34959J108</cusip>
			<value>6062</value>
			<shrsOrPrnAmt>
				<sshPrnamt>78203</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>78203</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Freeport-McMoRan Inc</nameOfIssuer>
			<titleOfClass>CL B</titleOfClass>
			<cusip>35671D857</cusip>
			<value>5213</value>
			<shrsOrPrnAmt>
				<sshPrnamt>296706</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>296706</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Fulton Financial Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>360271100</cusip>
			<value>999</value>
			<shrsOrPrnAmt>
				<sshPrnamt>56300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>56300</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GATX Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>361448103</cusip>
			<value>1603</value>
			<shrsOrPrnAmt>
				<sshPrnamt>23400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>23400</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Arthur J Gallagher &amp; Co</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>363576109</cusip>
			<value>5968</value>
			<shrsOrPrnAmt>
				<sshPrnamt>86832</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>86832</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>General Dynamics Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>369550108</cusip>
			<value>10897</value>
			<shrsOrPrnAmt>
				<sshPrnamt>49332</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>49332</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>General Electric Co</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>369604103</cusip>
			<value>19368</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1436789</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>1436789</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>General Mills Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>370334104</cusip>
			<value>5199</value>
			<shrsOrPrnAmt>
				<sshPrnamt>115379</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>115379</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>General Motors Co</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>37045V100</cusip>
			<value>7681</value>
			<shrsOrPrnAmt>
				<sshPrnamt>211365</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>211365</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Gentex Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>371901109</cusip>
			<value>1548</value>
			<shrsOrPrnAmt>
				<sshPrnamt>67266</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>67266</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Gilead Sciences Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>375558103</cusip>
			<value>18395</value>
			<shrsOrPrnAmt>
				<sshPrnamt>244004</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>244004</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Glacier Bancorp Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>37637Q105</cusip>
			<value>1021</value>
			<shrsOrPrnAmt>
				<sshPrnamt>26600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>26600</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Global Payments Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>37940X102</cusip>
			<value>4831</value>
			<shrsOrPrnAmt>
				<sshPrnamt>43319</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>43319</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Goldman Sachs Group Inc/The</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>38141G104</cusip>
			<value>17540</value>
			<shrsOrPrnAmt>
				<sshPrnamt>69642</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>69642</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WW Grainger Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>384802104</cusip>
			<value>4135</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14648</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>14648</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Greif Inc</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>397624107</cusip>
			<value>1050</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>20100</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HCA Healthcare Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>40412C101</cusip>
			<value>6174</value>
			<shrsOrPrnAmt>
				<sshPrnamt>63652</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>63652</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HNI Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>404251100</cusip>
			<value>992</value>
			<shrsOrPrnAmt>
				<sshPrnamt>27500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>27500</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HP Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>40434L105</cusip>
			<value>8142</value>
			<shrsOrPrnAmt>
				<sshPrnamt>371446</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>371446</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Halliburton Co</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>406216101</cusip>
			<value>7446</value>
			<shrsOrPrnAmt>
				<sshPrnamt>158629</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>158629</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Hanesbrands Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>410345102</cusip>
			<value>862</value>
			<shrsOrPrnAmt>
				<sshPrnamt>46800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>46800</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Harley-Davidson Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>412822108</cusip>
			<value>892</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>20800</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Harris Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>413875105</cusip>
			<value>6369</value>
			<shrsOrPrnAmt>
				<sshPrnamt>39492</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>39492</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Hartford Financial Services Group Inc/The</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>416515104</cusip>
			<value>4280</value>
			<shrsOrPrnAmt>
				<sshPrnamt>83069</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>83069</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Hasbro Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>418056107</cusip>
			<value>801</value>
			<shrsOrPrnAmt>
				<sshPrnamt>9500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>9500</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Hershey Co/The</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>427866108</cusip>
			<value>1237</value>
			<shrsOrPrnAmt>
				<sshPrnamt>12500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>12500</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Hewlett Packard Enterprise Co</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>42824C109</cusip>
			<value>6358</value>
			<shrsOrPrnAmt>
				<sshPrnamt>362473</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>362473</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Hilton Grand Vacations Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>43283X105</cusip>
			<value>873</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20283</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>20283</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Hilton Worldwide Holdings Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>43300A203</cusip>
			<value>3231</value>
			<shrsOrPrnAmt>
				<sshPrnamt>41029</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>41029</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Home Depot Inc/The</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>437076102</cusip>
			<value>34957</value>
			<shrsOrPrnAmt>
				<sshPrnamt>196126</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>196126</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Honeywell International Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>438516106</cusip>
			<value>22026</value>
			<shrsOrPrnAmt>
				<sshPrnamt>152418</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>152418</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Hormel Foods Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>440452100</cusip>
			<value>872</value>
			<shrsOrPrnAmt>
				<sshPrnamt>25400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>25400</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Host Hotels &amp; Resorts Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>44107P104</cusip>
			<value>4813</value>
			<shrsOrPrnAmt>
				<sshPrnamt>258190</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>258190</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Humana Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>444859102</cusip>
			<value>5997</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22306</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>22306</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>JB Hunt Transport Services Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>445658107</cusip>
			<value>3605</value>
			<shrsOrPrnAmt>
				<sshPrnamt>30769</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>30769</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Huntington Bancshares Inc/OH</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>446150104</cusip>
			<value>5474</value>
			<shrsOrPrnAmt>
				<sshPrnamt>362519</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>362519</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>IDACORP Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>451107106</cusip>
			<value>2251</value>
			<shrsOrPrnAmt>
				<sshPrnamt>25500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>25500</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Illinois Tool Works Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>452308109</cusip>
			<value>9121</value>
			<shrsOrPrnAmt>
				<sshPrnamt>58219</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>58219</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Illumina Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>452327109</cusip>
			<value>8546</value>
			<shrsOrPrnAmt>
				<sshPrnamt>36149</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>36149</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Incyte Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>45337C102</cusip>
			<value>2202</value>
			<shrsOrPrnAmt>
				<sshPrnamt>26422</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>26422</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Infinity Property &amp; Casualty Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>45665Q103</cusip>
			<value>793</value>
			<shrsOrPrnAmt>
				<sshPrnamt>6700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>6700</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Ingles Markets Inc</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>457030104</cusip>
			<value>846</value>
			<shrsOrPrnAmt>
				<sshPrnamt>25000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>25000</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Intel Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>458140100</cusip>
			<value>43310</value>
			<shrsOrPrnAmt>
				<sshPrnamt>831604</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>831604</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Intercontinental Exchange Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>45866F104</cusip>
			<value>7712</value>
			<shrsOrPrnAmt>
				<sshPrnamt>106337</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>106337</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>International Business Machines Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>459200101</cusip>
			<value>23593</value>
			<shrsOrPrnAmt>
				<sshPrnamt>153773</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>153773</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>International Flavors &amp; Fragrances Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>459506101</cusip>
			<value>2387</value>
			<shrsOrPrnAmt>
				<sshPrnamt>17438</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>17438</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>International Paper Co</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>460146103</cusip>
			<value>2722</value>
			<shrsOrPrnAmt>
				<sshPrnamt>50947</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>50947</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Intuit Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>461202103</cusip>
			<value>8503</value>
			<shrsOrPrnAmt>
				<sshPrnamt>49050</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>49050</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Intuitive Surgical Inc</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>46120E602</cusip>
			<value>8623</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20888</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>20888</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Investors Bancorp Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>46146L101</cusip>
			<value>877</value>
			<shrsOrPrnAmt>
				<sshPrnamt>64300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>64300</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>IQVIA Holdings Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>46266C105</cusip>
			<value>4011</value>
			<shrsOrPrnAmt>
				<sshPrnamt>40879</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>40879</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EWZ  - ISHARES MSCI BRAZIL ETF</nameOfIssuer>
			<titleOfClass>MSCI BRAZIL ETF</titleOfClass>
			<cusip>464286400</cusip>
			<value>8442</value>
			<shrsOrPrnAmt>
				<sshPrnamt>193007</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>193007</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>iShares MSCI Brazil ETF</nameOfIssuer>
			<titleOfClass>MSCI BRAZIL ETF</titleOfClass>
			<cusip>464286400</cusip>
			<value>29416</value>
			<shrsOrPrnAmt>
				<sshPrnamt>655428</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>655428</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>iShares MSCI Canada ETF</nameOfIssuer>
			<titleOfClass>MSCI CDA ETF</titleOfClass>
			<cusip>464286509</cusip>
			<value>31217</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1132700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>1132700</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>iShares MSCI Eurozone ETF</nameOfIssuer>
			<titleOfClass>MSCI EURZONE ETF</titleOfClass>
			<cusip>464286608</cusip>
			<value>208</value>
			<shrsOrPrnAmt>
				<sshPrnamt>4850</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>4850</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ECH  - ISHARES MSCI CHILE ETF</nameOfIssuer>
			<titleOfClass>MSCI CHILE ETF</titleOfClass>
			<cusip>464286640</cusip>
			<value>292</value>
			<shrsOrPrnAmt>
				<sshPrnamt>5377</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>5377</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>iShares MSCI Pacific ex Japan ETF</nameOfIssuer>
			<titleOfClass>MSCI PAC JP ETF</titleOfClass>
			<cusip>464286665</cusip>
			<value>42</value>
			<shrsOrPrnAmt>
				<sshPrnamt>915</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>915</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EWQ  - ISHARES MSCI FRANCE ETF</nameOfIssuer>
			<titleOfClass>MSCI FRANCE ETF</titleOfClass>
			<cusip>464286707</cusip>
			<value>917</value>
			<shrsOrPrnAmt>
				<sshPrnamt>28533</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>28533</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EWP  - ISHARES MSCI SPAIN ETF</nameOfIssuer>
			<titleOfClass>MSCI SPAIN ETF</titleOfClass>
			<cusip>464286764</cusip>
			<value>911</value>
			<shrsOrPrnAmt>
				<sshPrnamt>27512</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>27512</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EWY  - ISHARES MSCI SOUTH KOREA ETF</nameOfIssuer>
			<titleOfClass>MSCI STH KOR ETF</titleOfClass>
			<cusip>464286772</cusip>
			<value>1877</value>
			<shrsOrPrnAmt>
				<sshPrnamt>25298</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>25298</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EWG  - ISHARES MSCI GERMANY ETF</nameOfIssuer>
			<titleOfClass>MSCI GERMANY ETF</titleOfClass>
			<cusip>464286806</cusip>
			<value>1065</value>
			<shrsOrPrnAmt>
				<sshPrnamt>32695</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>32695</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EWW  - ISHARES MSCI MEXICO ETF</nameOfIssuer>
			<titleOfClass>MSCI MEXICO ETF</titleOfClass>
			<cusip>464286822</cusip>
			<value>469</value>
			<shrsOrPrnAmt>
				<sshPrnamt>8842</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>8842</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EWH  - ISHARES MSCI HONG KONG ETF</nameOfIssuer>
			<titleOfClass>MSCI HONG KG ETF</titleOfClass>
			<cusip>464286871</cusip>
			<value>1553</value>
			<shrsOrPrnAmt>
				<sshPrnamt>60210</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>60210</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>IVV  - ISHARES CORE S&amp;P 500 ETF</nameOfIssuer>
			<titleOfClass>CORE S&amp;P500 ETF</titleOfClass>
			<cusip>464287200</cusip>
			<value>11365</value>
			<shrsOrPrnAmt>
				<sshPrnamt>42801</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>42801</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>iShares MSCI Emerging Markets ETF</nameOfIssuer>
			<titleOfClass>MSCI EMG MKT ETF</titleOfClass>
			<cusip>464287234</cusip>
			<value>143</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2955</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>2955</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ILF  - ISHARES LATIN AMERICA 40 ETF</nameOfIssuer>
			<titleOfClass>LATN AMER 40 ETF</titleOfClass>
			<cusip>464287390</cusip>
			<value>3478</value>
			<shrsOrPrnAmt>
				<sshPrnamt>92412</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>92412</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>IEV  - ISHARES EUROPE ETF</nameOfIssuer>
			<titleOfClass>EUROPE ETF</titleOfClass>
			<cusip>464287861</cusip>
			<value>4960</value>
			<shrsOrPrnAmt>
				<sshPrnamt>104823</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>104823</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AAXJ  - ISHARES MSCI ALL COUNTRY ASI</nameOfIssuer>
			<titleOfClass>MSCI AC ASIA ETF</titleOfClass>
			<cusip>464288182</cusip>
			<value>3319</value>
			<shrsOrPrnAmt>
				<sshPrnamt>42652</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>42652</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ACWI  - ISHARES MSCI ACWI ETF</nameOfIssuer>
			<titleOfClass>MSCI ACWI ETF</titleOfClass>
			<cusip>464288257</cusip>
			<value>2036</value>
			<shrsOrPrnAmt>
				<sshPrnamt>28332</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>28332</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>iShares MSCI ACWI ETF</nameOfIssuer>
			<titleOfClass>MSCI ACWI ETF</titleOfClass>
			<cusip>464288257</cusip>
			<value>1076</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15150</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>15150</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EPU  - ISHARES MSCI PERU ETF</nameOfIssuer>
			<titleOfClass>MSCI PERU ETF</titleOfClass>
			<cusip>464289842</cusip>
			<value>559</value>
			<shrsOrPrnAmt>
				<sshPrnamt>12755</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>12755</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EWT  - ISHARES MSCI TAIWAN ETF</nameOfIssuer>
			<titleOfClass>MSCI TAIWAN ETF</titleOfClass>
			<cusip>46434G772</cusip>
			<value>2304</value>
			<shrsOrPrnAmt>
				<sshPrnamt>60366</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>60366</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EWJ  - ISHARES MSCI JAPAN ETF</nameOfIssuer>
			<titleOfClass>MSCI JPN ETF NEW</titleOfClass>
			<cusip>46434G822</cusip>
			<value>2924</value>
			<shrsOrPrnAmt>
				<sshPrnamt>48390</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>48390</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>iShares MSCI Japan ETF</nameOfIssuer>
			<titleOfClass>MSCI JPN ETF NEW</titleOfClass>
			<cusip>46434G822</cusip>
			<value>98</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1613</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>1613</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EWU  - ISHARES MSCI UNITED KINGDOM</nameOfIssuer>
			<titleOfClass>MSCI UK ETF NEW</titleOfClass>
			<cusip>46435G334</cusip>
			<value>230</value>
			<shrsOrPrnAmt>
				<sshPrnamt>6381</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>6381</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>JPMorgan Chase &amp; Co</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>46625H100</cusip>
			<value>70284</value>
			<shrsOrPrnAmt>
				<sshPrnamt>639121</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>639121</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>JD.com Inc</nameOfIssuer>
			<titleOfClass>SPON ADR CL A</titleOfClass>
			<cusip>47215P106</cusip>
			<value>1936</value>
			<shrsOrPrnAmt>
				<sshPrnamt>47809</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>47809</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Johnson &amp; Johnson</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>478160104</cusip>
			<value>61486</value>
			<shrsOrPrnAmt>
				<sshPrnamt>479795</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>479795</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KLA-Tencor Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>482480100</cusip>
			<value>2907</value>
			<shrsOrPrnAmt>
				<sshPrnamt>26671</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>26671</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Kansas City Southern</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>485170302</cusip>
			<value>1623</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14775</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>14775</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Kellogg Co</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>487836108</cusip>
			<value>3179</value>
			<shrsOrPrnAmt>
				<sshPrnamt>48903</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>48903</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KeyCorp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>493267108</cusip>
			<value>6671</value>
			<shrsOrPrnAmt>
				<sshPrnamt>341211</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>341211</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Keysight Technologies Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>49338L103</cusip>
			<value>2742</value>
			<shrsOrPrnAmt>
				<sshPrnamt>52342</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>52342</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Kimberly-Clark Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>494368103</cusip>
			<value>5166</value>
			<shrsOrPrnAmt>
				<sshPrnamt>46912</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>46912</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Kimco Realty Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>49446R109</cusip>
			<value>1811</value>
			<shrsOrPrnAmt>
				<sshPrnamt>125780</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>125780</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Kohl&apos;s Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>500255104</cusip>
			<value>4597</value>
			<shrsOrPrnAmt>
				<sshPrnamt>70165</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>70165</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Kraft Heinz Co/The</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>500754106</cusip>
			<value>6480</value>
			<shrsOrPrnAmt>
				<sshPrnamt>104036</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>104036</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Kroger Co/The</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>501044101</cusip>
			<value>2848</value>
			<shrsOrPrnAmt>
				<sshPrnamt>118973</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>118973</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LKQ Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>501889208</cusip>
			<value>3241</value>
			<shrsOrPrnAmt>
				<sshPrnamt>85412</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>85412</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>L3 Technologies Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>502413107</cusip>
			<value>2526</value>
			<shrsOrPrnAmt>
				<sshPrnamt>12144</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>12144</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Laboratory Corp of America Holdings</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>50540R409</cusip>
			<value>4686</value>
			<shrsOrPrnAmt>
				<sshPrnamt>28970</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>28970</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Lam Research Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>512807108</cusip>
			<value>737</value>
			<shrsOrPrnAmt>
				<sshPrnamt>3628</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>3628</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Las Vegas Sands Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>517834107</cusip>
			<value>5058</value>
			<shrsOrPrnAmt>
				<sshPrnamt>70352</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>70352</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Estee Lauder Cos Inc/The</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>518439104</cusip>
			<value>14448</value>
			<shrsOrPrnAmt>
				<sshPrnamt>96500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>96500</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Lear Corp</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>521865204</cusip>
			<value>3666</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>19700</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Legg Mason Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>524901105</cusip>
			<value>1077</value>
			<shrsOrPrnAmt>
				<sshPrnamt>26500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>26500</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Lennar Corp</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>526057104</cusip>
			<value>3454</value>
			<shrsOrPrnAmt>
				<sshPrnamt>58610</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>58610</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Lennar Corp</nameOfIssuer>
			<titleOfClass>CL B</titleOfClass>
			<cusip>526057302</cusip>
			<value>41</value>
			<shrsOrPrnAmt>
				<sshPrnamt>870</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>870</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Liberty Interactive Corp QVC Group</nameOfIssuer>
			<titleOfClass>QVC GP COM SER A</titleOfClass>
			<cusip>53071M104</cusip>
			<value>2487</value>
			<shrsOrPrnAmt>
				<sshPrnamt>98818</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>98818</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Eli Lilly &amp; Co</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>532457108</cusip>
			<value>11983</value>
			<shrsOrPrnAmt>
				<sshPrnamt>154882</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>154882</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Lincoln National Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>534187109</cusip>
			<value>4051</value>
			<shrsOrPrnAmt>
				<sshPrnamt>55451</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>55451</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Lockheed Martin Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>539830109</cusip>
			<value>14081</value>
			<shrsOrPrnAmt>
				<sshPrnamt>41668</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>41668</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Loews Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>540424108</cusip>
			<value>4020</value>
			<shrsOrPrnAmt>
				<sshPrnamt>80834</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>80834</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Lowe&apos;s Cos Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>548661107</cusip>
			<value>11725</value>
			<shrsOrPrnAmt>
				<sshPrnamt>133614</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>133614</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Lululemon Athletica Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>550021109</cusip>
			<value>3439</value>
			<shrsOrPrnAmt>
				<sshPrnamt>38583</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>38583</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>M&amp;T Bank Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>55261F104</cusip>
			<value>5722</value>
			<shrsOrPrnAmt>
				<sshPrnamt>31038</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>31038</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MB Financial Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>55264U108</cusip>
			<value>806</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>19900</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MGM Resorts International</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>552953101</cusip>
			<value>4530</value>
			<shrsOrPrnAmt>
				<sshPrnamt>129356</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>129356</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MSC Industrial Direct Co Inc</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>553530106</cusip>
			<value>1000</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>10900</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Macy&apos;s Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>55616P104</cusip>
			<value>4351</value>
			<shrsOrPrnAmt>
				<sshPrnamt>146301</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>146301</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Magna International Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>559222401</cusip>
			<value>154</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2805</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>2805</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Magna International Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>559222401</cusip>
			<value>1120</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>19900</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Marathon Petroleum Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>56585A102</cusip>
			<value>9955</value>
			<shrsOrPrnAmt>
				<sshPrnamt>136163</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>136163</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Markel Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>570535104</cusip>
			<value>4184</value>
			<shrsOrPrnAmt>
				<sshPrnamt>3575</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>3575</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Marsh &amp; McLennan Cos Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>571748102</cusip>
			<value>8476</value>
			<shrsOrPrnAmt>
				<sshPrnamt>102622</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>102622</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Marriott International Inc/MD</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>571903202</cusip>
			<value>8716</value>
			<shrsOrPrnAmt>
				<sshPrnamt>64096</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>64096</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Masco Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>574599106</cusip>
			<value>1713</value>
			<shrsOrPrnAmt>
				<sshPrnamt>42348</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>42348</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Mastercard Inc</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>57636Q104</cusip>
			<value>28874</value>
			<shrsOrPrnAmt>
				<sshPrnamt>164841</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>164841</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Maxim Integrated Products Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>57772K101</cusip>
			<value>1349</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>22400</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>McCormick &amp; Co Inc/MD</nameOfIssuer>
			<titleOfClass>COM NON VTG</titleOfClass>
			<cusip>579780206</cusip>
			<value>3886</value>
			<shrsOrPrnAmt>
				<sshPrnamt>36528</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>36528</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>McDonald&apos;s Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>580135101</cusip>
			<value>20358</value>
			<shrsOrPrnAmt>
				<sshPrnamt>130185</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>130185</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Merck &amp; Co Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>58933Y105</cusip>
			<value>23642</value>
			<shrsOrPrnAmt>
				<sshPrnamt>434036</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>434036</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MetLife Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>59156R108</cusip>
			<value>6155</value>
			<shrsOrPrnAmt>
				<sshPrnamt>134134</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>134134</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Microsoft Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>594918104</cusip>
			<value>120543</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1320731</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>1320731</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Micron Technology Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>595112103</cusip>
			<value>10005</value>
			<shrsOrPrnAmt>
				<sshPrnamt>191883</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>191883</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Mobile Mini Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>60740F105</cusip>
			<value>874</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>20100</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Mondelez International Inc</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>609207105</cusip>
			<value>13430</value>
			<shrsOrPrnAmt>
				<sshPrnamt>321820</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>321820</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Monsanto Co</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>61166W101</cusip>
			<value>8758</value>
			<shrsOrPrnAmt>
				<sshPrnamt>75054</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>75054</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Monster Beverage Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>61174X109</cusip>
			<value>3751</value>
			<shrsOrPrnAmt>
				<sshPrnamt>65563</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>65563</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Moody&apos;s Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>615369105</cusip>
			<value>7534</value>
			<shrsOrPrnAmt>
				<sshPrnamt>46706</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>46706</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Morgan Stanley</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>617446448</cusip>
			<value>13444</value>
			<shrsOrPrnAmt>
				<sshPrnamt>249155</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>249155</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Mosaic Co/The</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>61945C103</cusip>
			<value>1336</value>
			<shrsOrPrnAmt>
				<sshPrnamt>55033</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>55033</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Motorola Solutions Inc</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>620076307</cusip>
			<value>2719</value>
			<shrsOrPrnAmt>
				<sshPrnamt>25818</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>25818</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NBT Bancorp Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>628778102</cusip>
			<value>866</value>
			<shrsOrPrnAmt>
				<sshPrnamt>24400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>24400</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NRG Energy Inc</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>629377508</cusip>
			<value>8441</value>
			<shrsOrPrnAmt>
				<sshPrnamt>276480</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>276480</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>National Oilwell Varco Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>637071101</cusip>
			<value>7704</value>
			<shrsOrPrnAmt>
				<sshPrnamt>209283</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>209283</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Neenah Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>640079109</cusip>
			<value>760</value>
			<shrsOrPrnAmt>
				<sshPrnamt>9700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>9700</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NetApp Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>64110D104</cusip>
			<value>3238</value>
			<shrsOrPrnAmt>
				<sshPrnamt>52488</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>52488</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Netflix Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>64110L106</cusip>
			<value>20082</value>
			<shrsOrPrnAmt>
				<sshPrnamt>67993</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>67993</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>New Oriental Education &amp; Technology Group Inc</nameOfIssuer>
			<titleOfClass>SPON ADR</titleOfClass>
			<cusip>647581107</cusip>
			<value>2408</value>
			<shrsOrPrnAmt>
				<sshPrnamt>27477</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>27477</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Newmont Mining Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>651639106</cusip>
			<value>4848</value>
			<shrsOrPrnAmt>
				<sshPrnamt>124090</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>124090</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NextEra Energy Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>65339F101</cusip>
			<value>25398</value>
			<shrsOrPrnAmt>
				<sshPrnamt>155502</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>155502</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NIKE Inc</nameOfIssuer>
			<titleOfClass>CL B</titleOfClass>
			<cusip>654106103</cusip>
			<value>15346</value>
			<shrsOrPrnAmt>
				<sshPrnamt>230975</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>230975</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Nordstrom Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>655664100</cusip>
			<value>726</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>15000</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Norfolk Southern Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>655844108</cusip>
			<value>7152</value>
			<shrsOrPrnAmt>
				<sshPrnamt>52677</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>52677</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Northern Trust Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>665859104</cusip>
			<value>5137</value>
			<shrsOrPrnAmt>
				<sshPrnamt>49807</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>49807</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Northrop Grumman Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>666807102</cusip>
			<value>16334</value>
			<shrsOrPrnAmt>
				<sshPrnamt>46786</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>46786</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Nucor Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>670346105</cusip>
			<value>4515</value>
			<shrsOrPrnAmt>
				<sshPrnamt>73913</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>73913</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NVIDIA Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>67066G104</cusip>
			<value>24437</value>
			<shrsOrPrnAmt>
				<sshPrnamt>105519</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>105519</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Omnicom Group Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>681919106</cusip>
			<value>3881</value>
			<shrsOrPrnAmt>
				<sshPrnamt>53406</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>53406</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ONEOK Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>682680103</cusip>
			<value>7933</value>
			<shrsOrPrnAmt>
				<sshPrnamt>139368</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>139368</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Oracle Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>68389X105</cusip>
			<value>22937</value>
			<shrsOrPrnAmt>
				<sshPrnamt>501350</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>501350</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PG&amp;E Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>69331C108</cusip>
			<value>6175</value>
			<shrsOrPrnAmt>
				<sshPrnamt>140566</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>140566</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PNC Financial Services Group Inc/The</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>693475105</cusip>
			<value>18770</value>
			<shrsOrPrnAmt>
				<sshPrnamt>124109</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>124109</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PNM Resources Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>69349H107</cusip>
			<value>956</value>
			<shrsOrPrnAmt>
				<sshPrnamt>25000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>25000</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PPG Industries Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>693506107</cusip>
			<value>7150</value>
			<shrsOrPrnAmt>
				<sshPrnamt>64070</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>64070</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PPL Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>69351T106</cusip>
			<value>5242</value>
			<shrsOrPrnAmt>
				<sshPrnamt>185292</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>185292</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PVH Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>693656100</cusip>
			<value>2864</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18914</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>18914</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PACCAR Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>693718108</cusip>
			<value>3570</value>
			<shrsOrPrnAmt>
				<sshPrnamt>53957</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>53957</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Packaging Corp of America</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>695156109</cusip>
			<value>1860</value>
			<shrsOrPrnAmt>
				<sshPrnamt>16500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>16500</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Palo Alto Networks Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>697435105</cusip>
			<value>5254</value>
			<shrsOrPrnAmt>
				<sshPrnamt>28946</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>28946</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Parker-Hannifin Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>701094104</cusip>
			<value>3991</value>
			<shrsOrPrnAmt>
				<sshPrnamt>23333</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>23333</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PayPal Holdings Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>70450Y103</cusip>
			<value>15266</value>
			<shrsOrPrnAmt>
				<sshPrnamt>201213</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>201213</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Penske Automotive Group Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>70959W103</cusip>
			<value>1201</value>
			<shrsOrPrnAmt>
				<sshPrnamt>27100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>27100</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>People&apos;s United Financial Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>712704105</cusip>
			<value>1329</value>
			<shrsOrPrnAmt>
				<sshPrnamt>71200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>71200</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PepsiCo Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>713448108</cusip>
			<value>26176</value>
			<shrsOrPrnAmt>
				<sshPrnamt>239821</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>239821</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PetMed Express Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>716382106</cusip>
			<value>827</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>19800</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Pfizer Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>717081103</cusip>
			<value>37349</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1052389</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>1052389</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Philip Morris International Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>718172109</cusip>
			<value>24074</value>
			<shrsOrPrnAmt>
				<sshPrnamt>242193</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>242193</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Phillips 66</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>718546104</cusip>
			<value>8794</value>
			<shrsOrPrnAmt>
				<sshPrnamt>91680</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>91680</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Pioneer Natural Resources Co</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>723787107</cusip>
			<value>9229</value>
			<shrsOrPrnAmt>
				<sshPrnamt>53726</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>53726</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Portland General Electric Co</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>736508847</cusip>
			<value>1576</value>
			<shrsOrPrnAmt>
				<sshPrnamt>38900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>38900</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PowerShares QQQ Trust Series 1</nameOfIssuer>
			<titleOfClass>UNIT SER 1</titleOfClass>
			<cusip>73935A104</cusip>
			<value>59308</value>
			<shrsOrPrnAmt>
				<sshPrnamt>370374</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>370374</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>QQQ  - POWERSHARES QQQ TRUST SERIES</nameOfIssuer>
			<titleOfClass>UNIT SER 1</titleOfClass>
			<cusip>73935A104</cusip>
			<value>3695</value>
			<shrsOrPrnAmt>
				<sshPrnamt>23054</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>23054</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PIN  - POWERSHARES INDIA PORTFOLIO</nameOfIssuer>
			<titleOfClass>INDIA PORT</titleOfClass>
			<cusip>73935L100</cusip>
			<value>995</value>
			<shrsOrPrnAmt>
				<sshPrnamt>38905</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>38905</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Powershares WilderHill Clean Energy Portfolio</nameOfIssuer>
			<titleOfClass>WILDERHILL CN EN</titleOfClass>
			<cusip>73935X112</cusip>
			<value>5199</value>
			<shrsOrPrnAmt>
				<sshPrnamt>207962</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>207962</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PowerShares DB Agriculture Fund</nameOfIssuer>
			<titleOfClass>PS DB AGRICUL FD</titleOfClass>
			<cusip>73936B408</cusip>
			<value>1997</value>
			<shrsOrPrnAmt>
				<sshPrnamt>106182</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>106182</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>T Rowe Price Group Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74144T108</cusip>
			<value>7218</value>
			<shrsOrPrnAmt>
				<sshPrnamt>66851</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>66851</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Principal Financial Group Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74251V102</cusip>
			<value>938</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>15400</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Procter &amp; Gamble Co/The</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>742718109</cusip>
			<value>31548</value>
			<shrsOrPrnAmt>
				<sshPrnamt>397929</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>397929</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Progressive Corp/The</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>743315103</cusip>
			<value>9220</value>
			<shrsOrPrnAmt>
				<sshPrnamt>151321</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>151321</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Prologis Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74340W103</cusip>
			<value>7186</value>
			<shrsOrPrnAmt>
				<sshPrnamt>114087</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>114087</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Provident Financial Services Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74386T105</cusip>
			<value>1484</value>
			<shrsOrPrnAmt>
				<sshPrnamt>58000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>58000</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Prudential Financial Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>744320102</cusip>
			<value>7665</value>
			<shrsOrPrnAmt>
				<sshPrnamt>74019</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>74019</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Public Service Enterprise Group Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>744573106</cusip>
			<value>9451</value>
			<shrsOrPrnAmt>
				<sshPrnamt>188119</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>188119</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Qorvo Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74736K101</cusip>
			<value>1339</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19005</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>19005</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>QUALCOMM Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>747525103</cusip>
			<value>13077</value>
			<shrsOrPrnAmt>
				<sshPrnamt>236007</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>236007</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Raymond James Financial Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>754730109</cusip>
			<value>2287</value>
			<shrsOrPrnAmt>
				<sshPrnamt>25584</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>25584</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Raytheon Co</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>755111507</cusip>
			<value>11136</value>
			<shrsOrPrnAmt>
				<sshPrnamt>51600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>51600</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Realty Income Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>756109104</cusip>
			<value>3305</value>
			<shrsOrPrnAmt>
				<sshPrnamt>63897</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>63897</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Red Hat Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>756577102</cusip>
			<value>6295</value>
			<shrsOrPrnAmt>
				<sshPrnamt>42101</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>42101</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Regeneron Pharmaceuticals Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>75886F107</cusip>
			<value>3367</value>
			<shrsOrPrnAmt>
				<sshPrnamt>9777</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>9777</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Regions Financial Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>7591EP100</cusip>
			<value>4585</value>
			<shrsOrPrnAmt>
				<sshPrnamt>246764</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>246764</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Republic Services Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>760759100</cusip>
			<value>4375</value>
			<shrsOrPrnAmt>
				<sshPrnamt>66058</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>66058</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ResMed Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>761152107</cusip>
			<value>2905</value>
			<shrsOrPrnAmt>
				<sshPrnamt>29501</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>29501</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Ritchie Bros Auctioneers Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>767744105</cusip>
			<value>782</value>
			<shrsOrPrnAmt>
				<sshPrnamt>24900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>24900</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Rockwell Collins Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>774341101</cusip>
			<value>5196</value>
			<shrsOrPrnAmt>
				<sshPrnamt>38530</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>38530</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Roper Technologies Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>776696106</cusip>
			<value>6557</value>
			<shrsOrPrnAmt>
				<sshPrnamt>23359</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>23359</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Ross Stores Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>778296103</cusip>
			<value>5888</value>
			<shrsOrPrnAmt>
				<sshPrnamt>75503</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>75503</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>S&amp;P Global Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>78409V104</cusip>
			<value>12302</value>
			<shrsOrPrnAmt>
				<sshPrnamt>64389</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>64389</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SBA Communications Corp</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>78410G104</cusip>
			<value>8039</value>
			<shrsOrPrnAmt>
				<sshPrnamt>47036</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>47036</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SEI Investments Co</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>784117103</cusip>
			<value>5002</value>
			<shrsOrPrnAmt>
				<sshPrnamt>66773</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>66773</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SPDR S&amp;P 500 ETF Trust</nameOfIssuer>
			<titleOfClass>TR UNIT</titleOfClass>
			<cusip>78462F103</cusip>
			<value>627</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2380</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>2380</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SPY  - SPDR S&amp;P 500 ETF TRUST</nameOfIssuer>
			<titleOfClass>TR UNIT</titleOfClass>
			<cusip>78462F103</cusip>
			<value>8490</value>
			<shrsOrPrnAmt>
				<sshPrnamt>32187</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>32187</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GLD  - SPDR GOLD SHARES</nameOfIssuer>
			<titleOfClass>GOLD SHS</titleOfClass>
			<cusip>78463V107</cusip>
			<value>1335</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10420</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>10420</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>salesforce.com Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>79466L302</cusip>
			<value>14037</value>
			<shrsOrPrnAmt>
				<sshPrnamt>120693</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>120693</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Sanofi</nameOfIssuer>
			<titleOfClass>SPONSORED ADR</titleOfClass>
			<cusip>80105N105</cusip>
			<value>15</value>
			<shrsOrPrnAmt>
				<sshPrnamt>380</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>380</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Schlumberger Ltd</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>806857108</cusip>
			<value>18205</value>
			<shrsOrPrnAmt>
				<sshPrnamt>281035</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>281035</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Charles Schwab Corp/The</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>808513105</cusip>
			<value>14279</value>
			<shrsOrPrnAmt>
				<sshPrnamt>273435</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>273435</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>XLV  - HEALTH CARE SELECT SECTOR</nameOfIssuer>
			<titleOfClass>SBI HEALTHCARE</titleOfClass>
			<cusip>81369Y209</cusip>
			<value>899</value>
			<shrsOrPrnAmt>
				<sshPrnamt>11049</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>11049</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>XLY  - CONSUMER DISCRETIONARY SELT</nameOfIssuer>
			<titleOfClass>SBI CONS DISCR</titleOfClass>
			<cusip>81369Y407</cusip>
			<value>1536</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15160</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>15160</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>XLE  - ENERGY SELECT SECTOR SPDR</nameOfIssuer>
			<titleOfClass>ENERGY</titleOfClass>
			<cusip>81369Y506</cusip>
			<value>609</value>
			<shrsOrPrnAmt>
				<sshPrnamt>8625</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>8625</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>XLF  - FINANCIAL SELECT SECTOR SPDR</nameOfIssuer>
			<titleOfClass>SBI INT-FINL</titleOfClass>
			<cusip>81369Y605</cusip>
			<value>3334</value>
			<shrsOrPrnAmt>
				<sshPrnamt>121679</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>121679</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Sempra Energy</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>816851109</cusip>
			<value>8650</value>
			<shrsOrPrnAmt>
				<sshPrnamt>77778</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>77778</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ServiceNow Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>81762P102</cusip>
			<value>4380</value>
			<shrsOrPrnAmt>
				<sshPrnamt>26475</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>26475</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Sherwin-Williams Co/The</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>824348106</cusip>
			<value>6899</value>
			<shrsOrPrnAmt>
				<sshPrnamt>17594</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>17594</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Simon Property Group Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>828806109</cusip>
			<value>10077</value>
			<shrsOrPrnAmt>
				<sshPrnamt>65287</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>65287</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Sirius XM Holdings Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>82968B103</cusip>
			<value>1486</value>
			<shrsOrPrnAmt>
				<sshPrnamt>238100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>238100</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Skyworks Solutions Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>83088M102</cusip>
			<value>3808</value>
			<shrsOrPrnAmt>
				<sshPrnamt>37980</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>37980</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>JM Smucker Co/The</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>832696405</cusip>
			<value>2833</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22843</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>22843</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Snap-on Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>833034101</cusip>
			<value>767</value>
			<shrsOrPrnAmt>
				<sshPrnamt>5200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>5200</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Sonoco Products Co</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>835495102</cusip>
			<value>1601</value>
			<shrsOrPrnAmt>
				<sshPrnamt>33000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>33000</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Southwest Gas Holdings Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>844895102</cusip>
			<value>1765</value>
			<shrsOrPrnAmt>
				<sshPrnamt>26100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>26100</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Spire Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>84857L101</cusip>
			<value>983</value>
			<shrsOrPrnAmt>
				<sshPrnamt>13600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>13600</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Splunk Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>848637104</cusip>
			<value>3264</value>
			<shrsOrPrnAmt>
				<sshPrnamt>33178</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>33178</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Stanley Black &amp; Decker Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>854502101</cusip>
			<value>4364</value>
			<shrsOrPrnAmt>
				<sshPrnamt>28484</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>28484</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Starbucks Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>855244109</cusip>
			<value>13648</value>
			<shrsOrPrnAmt>
				<sshPrnamt>235760</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>235760</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>State Street Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>857477103</cusip>
			<value>6732</value>
			<shrsOrPrnAmt>
				<sshPrnamt>67500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>67500</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Stryker Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>863667101</cusip>
			<value>15412</value>
			<shrsOrPrnAmt>
				<sshPrnamt>95777</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>95777</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Sun Life Financial Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>866796105</cusip>
			<value>1461</value>
			<shrsOrPrnAmt>
				<sshPrnamt>35600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>35600</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SunTrust Banks Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>867914103</cusip>
			<value>7900</value>
			<shrsOrPrnAmt>
				<sshPrnamt>116102</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>116102</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Synchrony Financial</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>87165B103</cusip>
			<value>3497</value>
			<shrsOrPrnAmt>
				<sshPrnamt>104284</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>104284</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Sysco Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>871829107</cusip>
			<value>4605</value>
			<shrsOrPrnAmt>
				<sshPrnamt>76801</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>76801</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TD Ameritrade Holding Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>87236Y108</cusip>
			<value>4831</value>
			<shrsOrPrnAmt>
				<sshPrnamt>81557</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>81557</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TJX Cos Inc/The</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>872540109</cusip>
			<value>9495</value>
			<shrsOrPrnAmt>
				<sshPrnamt>116418</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>116418</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>T-Mobile US Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>872590104</cusip>
			<value>3327</value>
			<shrsOrPrnAmt>
				<sshPrnamt>54499</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>54499</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Taiwan Semiconductor Manufacturing Co Ltd</nameOfIssuer>
			<titleOfClass>SPONSORED ADR</titleOfClass>
			<cusip>874039100</cusip>
			<value>19915</value>
			<shrsOrPrnAmt>
				<sshPrnamt>455105</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>455105</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Tapestry Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>876030107</cusip>
			<value>4777</value>
			<shrsOrPrnAmt>
				<sshPrnamt>90805</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>90805</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Target Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>87612E106</cusip>
			<value>5922</value>
			<shrsOrPrnAmt>
				<sshPrnamt>85291</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>85291</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Tesla Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>88160R101</cusip>
			<value>5271</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19806</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>19806</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Texas Instruments Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>882508104</cusip>
			<value>16556</value>
			<shrsOrPrnAmt>
				<sshPrnamt>159360</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>159360</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Textron Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>883203101</cusip>
			<value>3303</value>
			<shrsOrPrnAmt>
				<sshPrnamt>56009</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>56009</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Thermo Fisher Scientific Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>883556102</cusip>
			<value>14054</value>
			<shrsOrPrnAmt>
				<sshPrnamt>68072</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>68072</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>3M Co</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>88579Y101</cusip>
			<value>21173</value>
			<shrsOrPrnAmt>
				<sshPrnamt>96453</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>96453</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Tiffany &amp; Co</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>886547108</cusip>
			<value>3947</value>
			<shrsOrPrnAmt>
				<sshPrnamt>40416</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>40416</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Time Warner Inc</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>887317303</cusip>
			<value>13309</value>
			<shrsOrPrnAmt>
				<sshPrnamt>140718</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>140718</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Toronto-Dominion Bank/The</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>891160509</cusip>
			<value>1655</value>
			<shrsOrPrnAmt>
				<sshPrnamt>29200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>29200</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Total System Services Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>891906109</cusip>
			<value>5483</value>
			<shrsOrPrnAmt>
				<sshPrnamt>63559</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>63559</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Towne Bank/Portsmouth VA</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>89214P109</cusip>
			<value>749</value>
			<shrsOrPrnAmt>
				<sshPrnamt>26200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>26200</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TransDigm Group Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>893641100</cusip>
			<value>3940</value>
			<shrsOrPrnAmt>
				<sshPrnamt>12837</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>12837</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Travelers Cos Inc/The</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>89417E109</cusip>
			<value>7877</value>
			<shrsOrPrnAmt>
				<sshPrnamt>56725</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>56725</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Trustmark Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>898402102</cusip>
			<value>916</value>
			<shrsOrPrnAmt>
				<sshPrnamt>29400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>29400</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Twenty-First Century Fox Inc</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>90130A101</cusip>
			<value>9376</value>
			<shrsOrPrnAmt>
				<sshPrnamt>255550</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>255550</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Twitter Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>90184L102</cusip>
			<value>3258</value>
			<shrsOrPrnAmt>
				<sshPrnamt>112300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>112300</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Tyson Foods Inc</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>902494103</cusip>
			<value>3376</value>
			<shrsOrPrnAmt>
				<sshPrnamt>46128</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>46128</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>UGI Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>902681105</cusip>
			<value>826</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>18600</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>US Bancorp</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>902973304</cusip>
			<value>12709</value>
			<shrsOrPrnAmt>
				<sshPrnamt>251660</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>251660</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Ulta Beauty Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>90384S303</cusip>
			<value>2314</value>
			<shrsOrPrnAmt>
				<sshPrnamt>11328</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>11328</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Umpqua Holdings Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>904214103</cusip>
			<value>1732</value>
			<shrsOrPrnAmt>
				<sshPrnamt>80900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>80900</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Union Bankshares Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>90539J109</cusip>
			<value>892</value>
			<shrsOrPrnAmt>
				<sshPrnamt>24300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>24300</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Union Pacific Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>907818108</cusip>
			<value>18686</value>
			<shrsOrPrnAmt>
				<sshPrnamt>139001</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>139001</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>United Parcel Service Inc</nameOfIssuer>
			<titleOfClass>CL B</titleOfClass>
			<cusip>911312106</cusip>
			<value>11494</value>
			<shrsOrPrnAmt>
				<sshPrnamt>109824</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>109824</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>United Rentals Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>911363109</cusip>
			<value>3858</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22333</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>22333</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>United Technologies Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>913017109</cusip>
			<value>16066</value>
			<shrsOrPrnAmt>
				<sshPrnamt>127689</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>127689</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>UnitedHealth Group Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>91324P102</cusip>
			<value>32211</value>
			<shrsOrPrnAmt>
				<sshPrnamt>150520</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>150520</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VF Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>918204108</cusip>
			<value>5050</value>
			<shrsOrPrnAmt>
				<sshPrnamt>68135</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>68135</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Valero Energy Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>91913Y100</cusip>
			<value>11857</value>
			<shrsOrPrnAmt>
				<sshPrnamt>127814</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>127814</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Valley National Bancorp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>919794107</cusip>
			<value>1342</value>
			<shrsOrPrnAmt>
				<sshPrnamt>107700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>107700</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Vanguard FTSE Europe ETF</nameOfIssuer>
			<titleOfClass>FTSE EUROPE ETF</titleOfClass>
			<cusip>922042874</cusip>
			<value>224</value>
			<shrsOrPrnAmt>
				<sshPrnamt>3855</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>3855</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VOO  - VANGUARD S&amp;P 500 ETF</nameOfIssuer>
			<titleOfClass>S&amp;P 500 ETF SHS</titleOfClass>
			<cusip>922908363</cusip>
			<value>10379</value>
			<shrsOrPrnAmt>
				<sshPrnamt>42845</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>42845</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VeriSign Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>92343E102</cusip>
			<value>4223</value>
			<shrsOrPrnAmt>
				<sshPrnamt>35615</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>35615</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Verizon Communications Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>92343V104</cusip>
			<value>31104</value>
			<shrsOrPrnAmt>
				<sshPrnamt>650445</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>650445</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Verisk Analytics Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>92345Y106</cusip>
			<value>3437</value>
			<shrsOrPrnAmt>
				<sshPrnamt>33048</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>33048</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Vertex Pharmaceuticals Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>92532F100</cusip>
			<value>8825</value>
			<shrsOrPrnAmt>
				<sshPrnamt>54147</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>54147</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Viacom Inc</nameOfIssuer>
			<titleOfClass>CL B</titleOfClass>
			<cusip>92553P201</cusip>
			<value>2068</value>
			<shrsOrPrnAmt>
				<sshPrnamt>66585</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>66585</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Vipshop Holdings Ltd</nameOfIssuer>
			<titleOfClass>SPONSORED ADR</titleOfClass>
			<cusip>92763W103</cusip>
			<value>2453</value>
			<shrsOrPrnAmt>
				<sshPrnamt>147581</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>147581</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Visa Inc</nameOfIssuer>
			<titleOfClass>COM CL A</titleOfClass>
			<cusip>92826C839</cusip>
			<value>41492</value>
			<shrsOrPrnAmt>
				<sshPrnamt>346863</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>346863</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Walmart Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>931142103</cusip>
			<value>22355</value>
			<shrsOrPrnAmt>
				<sshPrnamt>251263</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>251263</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Walgreens Boots Alliance Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>931427108</cusip>
			<value>9738</value>
			<shrsOrPrnAmt>
				<sshPrnamt>148739</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>148739</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Washington Federal Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>938824109</cusip>
			<value>751</value>
			<shrsOrPrnAmt>
				<sshPrnamt>21700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>21700</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Waste Management Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>94106L109</cusip>
			<value>7588</value>
			<shrsOrPrnAmt>
				<sshPrnamt>90200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>90200</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Waters Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>941848103</cusip>
			<value>3616</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18204</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>18204</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Watsco Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>942622200</cusip>
			<value>1900</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>10500</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Wells Fargo &amp; Co</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>949746101</cusip>
			<value>37371</value>
			<shrsOrPrnAmt>
				<sshPrnamt>713048</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>713048</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WesBanco Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>950810101</cusip>
			<value>935</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>22100</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Westlake Chemical Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>960413102</cusip>
			<value>6168</value>
			<shrsOrPrnAmt>
				<sshPrnamt>55494</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>55494</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WestRock Co</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>96145D105</cusip>
			<value>4362</value>
			<shrsOrPrnAmt>
				<sshPrnamt>67970</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>67970</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Weyerhaeuser Co</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>962166104</cusip>
			<value>6973</value>
			<shrsOrPrnAmt>
				<sshPrnamt>199215</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>199215</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Whirlpool Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>963320106</cusip>
			<value>2986</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19503</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>19503</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Williams-Sonoma Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>969904101</cusip>
			<value>1087</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>20600</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WCHN  - WISDOMTREE ICBCCS SP 500</nameOfIssuer>
			<titleOfClass>ICBCCS S&amp;P CHINA</titleOfClass>
			<cusip>97717Y832</cusip>
			<value>1432</value>
			<shrsOrPrnAmt>
				<sshPrnamt>44599</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>44599</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Workday Inc</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>98138H101</cusip>
			<value>3531</value>
			<shrsOrPrnAmt>
				<sshPrnamt>27781</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>27781</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Worldpay Inc</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>981558109</cusip>
			<value>6704</value>
			<shrsOrPrnAmt>
				<sshPrnamt>81926</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>81926</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Wyndham Worldwide Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>98310W108</cusip>
			<value>3287</value>
			<shrsOrPrnAmt>
				<sshPrnamt>28728</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>28728</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Wynn Resorts Ltd</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>983134107</cusip>
			<value>2990</value>
			<shrsOrPrnAmt>
				<sshPrnamt>16394</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>16394</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Xcel Energy Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>98389B100</cusip>
			<value>2397</value>
			<shrsOrPrnAmt>
				<sshPrnamt>52700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>52700</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Xylem Inc/NY</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>98419M100</cusip>
			<value>3147</value>
			<shrsOrPrnAmt>
				<sshPrnamt>40911</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>40911</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Yum! Brands Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>988498101</cusip>
			<value>5503</value>
			<shrsOrPrnAmt>
				<sshPrnamt>64643</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>64643</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Yum China Holdings Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>98850P109</cusip>
			<value>2346</value>
			<shrsOrPrnAmt>
				<sshPrnamt>56522</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>56522</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Zions Bancorporation</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>989701107</cusip>
			<value>3169</value>
			<shrsOrPrnAmt>
				<sshPrnamt>60099</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>60099</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Zoetis Inc</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>98978V103</cusip>
			<value>12548</value>
			<shrsOrPrnAmt>
				<sshPrnamt>150259</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>150259</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Deutsche Bank AG</nameOfIssuer>
			<titleOfClass>NAMEN AKT</titleOfClass>
			<cusip>D18190898</cusip>
			<value>138</value>
			<shrsOrPrnAmt>
				<sshPrnamt>9834</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>9834</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Deutsche Bank AG</nameOfIssuer>
			<titleOfClass>NAMEN AKT</titleOfClass>
			<cusip>D18190898</cusip>
			<value>4834</value>
			<shrsOrPrnAmt>
				<sshPrnamt>346430</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>346430</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Aircastle Ltd</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G0129K104</cusip>
			<value>1986</value>
			<shrsOrPrnAmt>
				<sshPrnamt>100000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>100000</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Allegion PLC</nameOfIssuer>
			<titleOfClass>ORD SHS</titleOfClass>
			<cusip>G0176J109</cusip>
			<value>3077</value>
			<shrsOrPrnAmt>
				<sshPrnamt>36079</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>36079</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Allergan PLC</nameOfIssuer>
			<titleOfClass>SHS</titleOfClass>
			<cusip>G0177J108</cusip>
			<value>9222</value>
			<shrsOrPrnAmt>
				<sshPrnamt>54798</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>54798</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Aon PLC</nameOfIssuer>
			<titleOfClass>SHS CL A</titleOfClass>
			<cusip>G0408V102</cusip>
			<value>7267</value>
			<shrsOrPrnAmt>
				<sshPrnamt>51784</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>51784</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Accenture PLC</nameOfIssuer>
			<titleOfClass>SHS CLASS A</titleOfClass>
			<cusip>G1151C101</cusip>
			<value>17647</value>
			<shrsOrPrnAmt>
				<sshPrnamt>114962</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>114962</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Eaton Corp PLC</nameOfIssuer>
			<titleOfClass>SHS</titleOfClass>
			<cusip>G29183103</cusip>
			<value>7629</value>
			<shrsOrPrnAmt>
				<sshPrnamt>95465</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>95465</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Everest Re Group Ltd</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G3223R108</cusip>
			<value>3862</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15036</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>15036</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Janus Henderson Group PLC</nameOfIssuer>
			<titleOfClass>ORD SHS</titleOfClass>
			<cusip>G4474Y214</cusip>
			<value>1118</value>
			<shrsOrPrnAmt>
				<sshPrnamt>33800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>33800</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Invesco Ltd</nameOfIssuer>
			<titleOfClass>SHS</titleOfClass>
			<cusip>G491BT108</cusip>
			<value>3131</value>
			<shrsOrPrnAmt>
				<sshPrnamt>97799</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>97799</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Medtronic PLC</nameOfIssuer>
			<titleOfClass>SHS</titleOfClass>
			<cusip>G5960L103</cusip>
			<value>18043</value>
			<shrsOrPrnAmt>
				<sshPrnamt>224924</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>224924</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Aptiv PLC</nameOfIssuer>
			<titleOfClass>SHS</titleOfClass>
			<cusip>G6095L109</cusip>
			<value>3849</value>
			<shrsOrPrnAmt>
				<sshPrnamt>45303</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>45303</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Nielsen Holdings PLC</nameOfIssuer>
			<titleOfClass>SHS EUR</titleOfClass>
			<cusip>G6518L108</cusip>
			<value>1240</value>
			<shrsOrPrnAmt>
				<sshPrnamt>39000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>39000</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Seagate Technology PLC</nameOfIssuer>
			<titleOfClass>SHS</titleOfClass>
			<cusip>G7945M107</cusip>
			<value>7974</value>
			<shrsOrPrnAmt>
				<sshPrnamt>136262</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>136262</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Pentair PLC</nameOfIssuer>
			<titleOfClass>SHS</titleOfClass>
			<cusip>G7S00T104</cusip>
			<value>2501</value>
			<shrsOrPrnAmt>
				<sshPrnamt>36716</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>36716</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Signet Jewelers Ltd</nameOfIssuer>
			<titleOfClass>SHS</titleOfClass>
			<cusip>G81276100</cusip>
			<value>628</value>
			<shrsOrPrnAmt>
				<sshPrnamt>16300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>16300</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TechnipFMC PLC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G87110105</cusip>
			<value>627</value>
			<shrsOrPrnAmt>
				<sshPrnamt>21521</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>21521</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Chubb Ltd</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>H1467J104</cusip>
			<value>10545</value>
			<shrsOrPrnAmt>
				<sshPrnamt>77100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>77100</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>UBS Group AG</nameOfIssuer>
			<titleOfClass>SHS</titleOfClass>
			<cusip>H42097107</cusip>
			<value>418</value>
			<shrsOrPrnAmt>
				<sshPrnamt>23732</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>23732</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>UBS Group AG</nameOfIssuer>
			<titleOfClass>SHS</titleOfClass>
			<cusip>H42097107</cusip>
			<value>13732</value>
			<shrsOrPrnAmt>
				<sshPrnamt>779624</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>779624</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Logitech International SA</nameOfIssuer>
			<titleOfClass>SHS</titleOfClass>
			<cusip>H50430232</cusip>
			<value>5924</value>
			<shrsOrPrnAmt>
				<sshPrnamt>161571</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>161571</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TE Connectivity Ltd</nameOfIssuer>
			<titleOfClass>REG SHS</titleOfClass>
			<cusip>H84989104</cusip>
			<value>6993</value>
			<shrsOrPrnAmt>
				<sshPrnamt>69995</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>69995</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CNH Industrial NV</nameOfIssuer>
			<titleOfClass>SHS</titleOfClass>
			<cusip>N20944109</cusip>
			<value>2301</value>
			<shrsOrPrnAmt>
				<sshPrnamt>186203</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>186203</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Ferrari NV</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>N3167Y103</cusip>
			<value>399</value>
			<shrsOrPrnAmt>
				<sshPrnamt>3323</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>3323</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Ferrari NV</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>N3167Y103</cusip>
			<value>2925</value>
			<shrsOrPrnAmt>
				<sshPrnamt>24337</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>24337</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Fiat Chrysler Automobiles NV</nameOfIssuer>
			<titleOfClass>SHS</titleOfClass>
			<cusip>N31738102</cusip>
			<value>4352</value>
			<shrsOrPrnAmt>
				<sshPrnamt>214050</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>214050</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LyondellBasell Industries NV</nameOfIssuer>
			<titleOfClass>SHS - A -</titleOfClass>
			<cusip>N53745100</cusip>
			<value>6269</value>
			<shrsOrPrnAmt>
				<sshPrnamt>59324</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>59324</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Mylan NV</nameOfIssuer>
			<titleOfClass>SHS EURO</titleOfClass>
			<cusip>N59465109</cusip>
			<value>4158</value>
			<shrsOrPrnAmt>
				<sshPrnamt>101004</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>101004</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NXP Semiconductors NV</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>N6596X109</cusip>
			<value>7576</value>
			<shrsOrPrnAmt>
				<sshPrnamt>64754</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>64754</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>QIAGEN NV</nameOfIssuer>
			<titleOfClass>SHS NEW</titleOfClass>
			<cusip>N72482123</cusip>
			<value>1389</value>
			<shrsOrPrnAmt>
				<sshPrnamt>42941</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>42941</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Royal Caribbean Cruises Ltd</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>V7780T103</cusip>
			<value>3955</value>
			<shrsOrPrnAmt>
				<sshPrnamt>33591</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>33591</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
</informationTable>
