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      <invstOrSec>
        <name>LTC GB LTD</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>INTL FINANCE CORP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MidAmerican Energy Co</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-07-15</maturityDt>
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          <annualizedRt>4.25000000</annualizedRt>
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        <name>BANCO NAC DE DESEN ECONO</name>
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        <curCd>USD</curCd>
        <valUSD>106990.50000000</valUSD>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>BR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-05-09</maturityDt>
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      <invstOrSec>
        <name>Duke Energy Progress LLC</name>
        <lei>0NIFZ782LS46WOC9QK20</lei>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>118852.74000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-15</maturityDt>
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          <annualizedRt>3.45000000</annualizedRt>
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      <invstOrSec>
        <name>AVANGRID INC</name>
        <lei>549300OX0Q38NLSKPB49</lei>
        <title>Avangrid Inc</title>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>110945.67000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-04-15</maturityDt>
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          <annualizedRt>3.20000000</annualizedRt>
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      <invstOrSec>
        <name>Kommunalbanken AS</name>
        <lei>I7ETN0QQO2AHZZGHJ389</lei>
        <title>Kommunalbanken AS</title>
        <cusip>50048MBX7</cusip>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>215247.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-02-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.13000000</annualizedRt>
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      <invstOrSec>
        <name>ReNew Power Synthetic</name>
        <lei>N/A</lei>
        <title>ReNew Power Synthetic</title>
        <cusip>75973NAA2</cusip>
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          <isin value="US75973NAA28"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>207720.06000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-03-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.67000000</annualizedRt>
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        <name>Nordic Investment Bank</name>
        <lei>213800HYL1S7VAXG6Z48</lei>
        <title>Nordic Investment Bank</title>
        <cusip>65562QAW5</cusip>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>102342.46000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>XX</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-09-30</maturityDt>
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          <annualizedRt>2.25000000</annualizedRt>
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        <name>AGRICULTURAL BK OF CHINA</name>
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        <title>Agricultural Bank of China Ltd</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-10-20</maturityDt>
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          <annualizedRt>2.75000000</annualizedRt>
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      <invstOrSec>
        <name>MODERN LAND CHINA CO LTD</name>
        <lei>549300PDOU6AR9Z9IN08</lei>
        <title>Modern Land China Co Ltd</title>
        <cusip>000000000</cusip>
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        <curCd>USD</curCd>
        <valUSD>222750.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-03-05</maturityDt>
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          <annualizedRt>7.95000000</annualizedRt>
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        <name>TRANSMANTARO</name>
        <lei>549300NL65DC6HVEJX96</lei>
        <title>Consorcio Transmantaro SA</title>
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        <valUSD>231712.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>PE</invCountry>
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          <annualizedRt>4.70000000</annualizedRt>
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        <name>Avangrid Inc</name>
        <lei>549300OX0Q38NLSKPB49</lei>
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        <balance>300000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2029-06-01</maturityDt>
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        <name>DUKE ENERGY FLORIDA LLC</name>
        <lei>7MOHLM3DKE63RX2ZCN83</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-12-01</maturityDt>
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          <annualizedRt>2.50000000</annualizedRt>
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        <name>NORTHERN STATES PWR-MINN</name>
        <lei>3S1GHB0TEH85KX44SB51</lei>
        <title>Northern States Power Co/MN</title>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>African Development Bank</name>
        <lei>549300LNCLMO3ITVCU07</lei>
        <title>African Development Bank</title>
        <cusip>00828EDF3</cusip>
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        <balance>150000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>XX</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-12-06</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>CHINA DEVELOPMENT BANK</name>
        <lei>300300C1020111000029</lei>
        <title>China Development Bank</title>
        <cusip>000000000</cusip>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>207812.65000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-11-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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      <invstOrSec>
        <name>KOREA MIDLAND POWER CO</name>
        <lei>988400Z1HCY1QUPS1W65</lei>
        <title>Korea Midland Power Co Ltd</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Fanniemae-Aces</name>
        <lei>N/A</lei>
        <title>Fannie Mae-Aces</title>
        <cusip>3136B1XJ8</cusip>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ALEXANDRIA REAL ESTATE E</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DTE Electric Co</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-03-01</maturityDt>
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        <name>ERP Operating LP</name>
        <lei>DX5HQV5MLU50FEWZ5072</lei>
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          <isin value="US26884ABK88"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>WELLTOWER INC</name>
        <lei>T6IZ0MBEG5ACZDTR7D06</lei>
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        <curCd>USD</curCd>
        <valUSD>106400.01000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.70000000</annualizedRt>
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        <name>RENEW POWER PVT LTD</name>
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        <title>ReNew Power Pvt Ltd</title>
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        <curCd>USD</curCd>
        <valUSD>100338.12000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Asian Development Bank</name>
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        <title>Asian Development Bank</title>
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        <curCd>USD</curCd>
        <valUSD>119514.33000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>XX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-09-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.13000000</annualizedRt>
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        <name>PERUSAHAAN PENERBIT SBSN</name>
        <lei>254900G208H6Q0L5B953</lei>
        <title>Perusahaan Penerbit SBSN Indonesia III</title>
        <cusip>71567PAL4</cusip>
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        <curCd>USD</curCd>
        <valUSD>298953.88000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ID</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.90000000</annualizedRt>
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        <name>Kommunalbanken AS</name>
        <lei>I7ETN0QQO2AHZZGHJ389</lei>
        <title>Kommunalbanken AS</title>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>100248.26000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>1.38000000</annualizedRt>
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        <name>GREENKO SOLAR MAURITIUS</name>
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        <title>Greenko Solar Mauritius Ltd</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>MU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>BANK OF CHINA/LUXEMBOURG</name>
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        <curCd>USD</curCd>
        <valUSD>455175.09000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
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        <name>Digital Realty Trust LP</name>
        <lei>CD4SPTZ3YBTHY0C1AH38</lei>
        <title>Digital Realty Trust LP</title>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</annualizedRt>
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        <name>WUHAN METRO</name>
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        <title>Wuhan Metro Group Co Ltd</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>IND &amp; COMM BK CHN/LONDON</name>
        <lei>5493002ERZU2K9PZDL40</lei>
        <title>Industrial &amp; Commercial Bank of China Ltd/London</title>
        <cusip>000000000</cusip>
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        <balance>300000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Greenko Dutch BV</name>
        <lei>724500PT585P4JPVRP08</lei>
        <title>Greenko Dutch BV</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ING Groep NV</name>
        <lei>549300NYKK9MWM7GGW15</lei>
        <title>ING Groep NV</title>
        <cusip>45685NAA4</cusip>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>414874.92000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <isLoanByFund>N</isLoanByFund>
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        <name>REC Ltd</name>
        <lei>335800B4YRYWAMIJZ374</lei>
        <title>REC Ltd</title>
        <cusip>000000000</cusip>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>201256.95000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-07</maturityDt>
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          <annualizedRt>3.88000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Klabin Finance SA</name>
        <lei>222100T4G34Y3B3OF390</lei>
        <title>Klabin Finance SA</title>
        <cusip>49835LAB7</cusip>
        <identifiers>
          <isin value="US49835LAB71"/>
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        <balance>240000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>252258.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.88000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>European Investment Bank</name>
        <lei>5493006YXS1U5GIHE750</lei>
        <title>European Investment Bank</title>
        <cusip>298785HD1</cusip>
        <identifiers>
          <isin value="US298785HD17"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>274487.47000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>XX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.13000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>NEDER FINANCIERINGS-MAAT</name>
        <lei>XTC5E2QFTEF0435JWL77</lei>
        <title>Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden NV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS1953035844"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>216456.03000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-02-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EUROPEAN BK RECON &amp; DEV</name>
        <lei>549300HTGDOVDU6OGK19</lei>
        <title>European Bank for Reconstruction &amp; Development</title>
        <cusip>29874QEE0</cusip>
        <identifiers>
          <isin value="US29874QEE08"/>
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        <balance>150000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>156766.21000000</valUSD>
        <pctVal>0.449800542852</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>XX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-02-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>REPUBLIC OF CHILE</name>
        <lei>549300FLZTJM5YJF8D34</lei>
        <title>Chile Government International Bond</title>
        <cusip>168863DN5</cusip>
        <identifiers>
          <isin value="US168863DN50"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>215015.00000000</valUSD>
        <pctVal>0.616930547222</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.55000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Fanniemae-Aces</name>
        <lei>N/A</lei>
        <title>Fannie Mae-Aces</title>
        <cusip>3136B6XJ7</cusip>
        <identifiers>
          <isin value="US3136B6XJ73"/>
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        <balance>44000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>48841.57000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.52000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HYUNDAI CAPITAL SERVICES</name>
        <lei>549300MALMDAGL2ZJJ27</lei>
        <title>Hyundai Capital Services Inc</title>
        <cusip>44920UAG3</cusip>
        <identifiers>
          <isin value="US44920UAG31"/>
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        <balance>50000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50439.96000000</valUSD>
        <pctVal>0.144724563982</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-03-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.88000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HONG KONG</name>
        <lei>N/A</lei>
        <title>Hong Kong Government International Bond</title>
        <cusip>43858AAB6</cusip>
        <identifiers>
          <isin value="US43858AAB61"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>265307.68000000</valUSD>
        <pctVal>0.761232528915</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-05-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Nacional Financiera SNC</name>
        <lei>549300T46KUP3OWN3O73</lei>
        <title>Nacional Financiera SNC</title>
        <cusip>629598AS2</cusip>
        <identifiers>
          <isin value="US629598AS28"/>
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        <balance>150000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>150669.00000000</valUSD>
        <pctVal>0.432306158265</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-11-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.38000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PERUSAHAAN PENERBIT SBSN</name>
        <lei>254900G208H6Q0L5B953</lei>
        <title>Perusahaan Penerbit SBSN Indonesia III</title>
        <cusip>71567PAN0</cusip>
        <identifiers>
          <isin value="US71567PAN06"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>205750.00000000</valUSD>
        <pctVal>0.590346999470</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.30000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TOYOTA MOTOR CREDIT CORP</name>
        <lei>Z2VZBHUMB7PWWJ63I008</lei>
        <title>Toyota Motor Credit Corp</title>
        <cusip>89236TGU3</cusip>
        <identifiers>
          <isin value="US89236TGU34"/>
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        <balance>150000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>162418.50000000</valUSD>
        <pctVal>0.466018343297</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.15000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Asian Development Bank</name>
        <lei>549300X0MVH42CY8Q105</lei>
        <title>Asian Development Bank</title>
        <cusip>045167EB5</cusip>
        <identifiers>
          <isin value="US045167EB56"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>310078.55000000</valUSD>
        <pctVal>0.889691089149</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>XX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-08-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.88000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MIDAMERICAN ENERGY CO</name>
        <lei>NINLOILYRTLIMK26MZ18</lei>
        <title>MidAmerican Energy Co</title>
        <cusip>595620AV7</cusip>
        <identifiers>
          <isin value="US595620AV77"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>243218.13000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.15000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EUROPEAN INVESTMENT BANK</name>
        <lei>5493006YXS1U5GIHE750</lei>
        <title>European Investment Bank</title>
        <cusip>298785JA5</cusip>
        <identifiers>
          <isin value="US298785JA59"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>108270.84000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>XX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.63000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fanniemae-Aces</name>
        <lei>N/A</lei>
        <title>Fannie Mae-Aces</title>
        <cusip>3136B2GX4</cusip>
        <identifiers>
          <isin value="US3136B2GX47"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>230462.96000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.33000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KUNTARAHOITUS OYJ</name>
        <lei>529900HEKOENJHPNN480</lei>
        <title>Kuntarahoitus Oyj</title>
        <cusip>62630CAH4</cusip>
        <identifiers>
          <isin value="US62630CAH43"/>
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        <balance>50000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50628.65000000</valUSD>
        <pctVal>0.145265961675</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>FI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-09-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.38000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NATIONAL AUSTRALIA BK/NY</name>
        <lei>549300E2IPL06NDXMZ63</lei>
        <title>National Australia Bank Ltd/New York</title>
        <cusip>63254ABA5</cusip>
        <identifiers>
          <isin value="US63254ABA51"/>
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        <balance>225000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>245188.63000000</valUSD>
        <pctVal>0.703506060873</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.63000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <loanByFundCondition isLoanByFund="Y" loanVal="232111.90425000"/>
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      <invstOrSec>
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      <invstOrSec>
        <name>ICBCIL FINANCE CO LTD</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Asian Development Bank</name>
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        <name>EUROPEAN BK RECON &amp; DEV</name>
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        <title>European Bank for Reconstruction &amp; Development</title>
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        <name>INTERSTATE POWER &amp; LIGHT</name>
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        <name>KFW</name>
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        <title>Kreditanstalt fuer Wiederaufbau</title>
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        <fairValLevel>2</fairValLevel>
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        <name>KOMMUNINVEST I SVERIGE</name>
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        <title>Kommuninvest I Sverige AB</title>
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        <invCountry>SE</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>IND &amp; COMM BK CHN/LONDON</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FIBRIA OVERSEAS FINANCE</name>
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        <title>Fibria Overseas Finance Ltd</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>VERIZON COMMUNICATIONS</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>Verizon Communications Inc</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Electricite de France SA</name>
        <lei>549300X3UK4GG3FNMO06</lei>
        <title>Electricite de France SA</title>
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        <name>Avangrid Inc</name>
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        <title>Avangrid Inc</title>
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        <invCountry>US</invCountry>
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        <name>City of San Francisco CA Public Utilities Commission Water Revenue</name>
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        <name>IND &amp; COMM BK CHINA/SG</name>
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        <name>PUBLIC SERVICE COLORADO</name>
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        <name>MTR CORP CI LTD</name>
        <lei>254900SEVE6JAZLGDW04</lei>
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        <invCountry>KY</invCountry>

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        <name>Greenko Investment Co</name>
        <lei>21380023V4N5Y8KXN552</lei>
        <title>Greenko Investment Co</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>BANK OF CHINA/PARIS</name>
        <lei>54930053HGCFWVHYZX42</lei>
        <title>Bank of China Ltd/Paris</title>
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        <valUSD>301423.50000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <name>IND &amp; COMM BK CHINA/HK</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AXIS BANK/DUBAI</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HOST HOTELS &amp; RESORTS LP</name>
        <lei>FXB7X4WXVA8QPMNOGS12</lei>
        <title>Host Hotels &amp; Resorts LP</title>
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        <fairValLevel>2</fairValLevel>
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        <name>PNC FINANCIAL SERVICES</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-11-01</maturityDt>
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          <annualizedRt>2.20000000</annualizedRt>
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        <name>SOUTHWESTERN PUBLIC SERV</name>
        <lei>OL6FE7QD5EQ3DOYEO258</lei>
        <title>Southwestern Public Service Co</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-05-01</maturityDt>
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        <name>DUKE ENERGY CAROLINAS</name>
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        <title>Duke Energy Carolinas LLC</title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</annualizedRt>
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      <invstOrSec>
        <name>MidAmerican Energy Co</name>
        <lei>NINLOILYRTLIMK26MZ18</lei>
        <title>MidAmerican Energy Co</title>
        <cusip>595620AS4</cusip>
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          <isin value="US595620AS49"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>130566.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.65000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KAISER FOUNDATION HOSPIT</name>
        <lei>DW4Z57L3G4IRMHYZYK62</lei>
        <title>Kaiser Foundation Hospitals</title>
        <cusip>48305QAC7</cusip>
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          <isin value="US48305QAC78"/>
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        <balance>180000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>203513.32000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.15000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Neerg Energy Ltd</name>
        <lei>N/A</lei>
        <title>Neerg Energy Ltd</title>
        <cusip>64009VAA6</cusip>
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          <isin value="US64009VAA61"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>100503.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-02-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>EUROPEAN BK RECON &amp; DEV</name>
        <lei>549300HTGDOVDU6OGK19</lei>
        <title>European Bank for Reconstruction &amp; Development</title>
        <cusip>29874QAY0</cusip>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>158082.73000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>XX</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-09-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.63000000</annualizedRt>
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      <invstOrSec>
        <name>VENA ENERGY CAP PTE LTD</name>
        <lei>254900WSETM7TQMYGS40</lei>
        <title>Vena Energy Capital Pte Ltd</title>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-02-26</maturityDt>
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          <annualizedRt>3.13000000</annualizedRt>
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        <name>ALEXANDRIA REAL ESTATE E</name>
        <lei>MGCJBT4MKTQBVLNUIS88</lei>
        <title>Alexandria Real Estate Equities Inc</title>
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          <maturityDt>2024-01-15</maturityDt>
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        <name>Asian Development Bank</name>
        <lei>549300X0MVH42CY8Q105</lei>
        <title>Asian Development Bank</title>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>XX</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-03-19</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>BEIJING CAPITAL POLARIS</name>
        <lei>3003003WGUXVPX0I6P97</lei>
        <title>Beijing Capital Polaris Investment Co Ltd</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>VG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2021-03-26</maturityDt>
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      <invstOrSec>
        <name>DBS Group Holdings Ltd</name>
        <lei>5493007FKT78NKPM5V55</lei>
        <title>DBS Group Holdings Ltd</title>
        <cusip>24023KAC2</cusip>
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        <balance>200000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>RONGSHI INTERNATIONAL FI</name>
        <lei>5493002NOQBAWLD8YZ55</lei>
        <title>Rongshi International Finance Ltd</title>
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          <isin value="XS1989704843"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>212121.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>VG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>District of Columbia Water &amp; Sewer Authority</name>
        <lei>549300OT2FIJQJ5PSH71</lei>
        <title>DIST OF COLUMBIA WTR &amp; SWR AUTH PUBLIC UTILITY REVENUE</title>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>31528.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>INTL BK RECON &amp; DEVELOP</name>
        <lei>ZTMSNXROF84AHWJNKQ93</lei>
        <title>International Bank for Reconstruction &amp; Development</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CHINA CONSTRUCT BANK/HK</name>
        <lei>5493001KQW6DM7KEDR62</lei>
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        <curCd>USD</curCd>
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        <invCountry>CN</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fanniemae-Aces</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EXPORT-IMPORT BANK KOREA</name>
        <lei>549300APVP4R32PI3Y06</lei>
        <title>Export-Import Bank of Korea</title>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MASS INSTITUTE OF TECH</name>
        <lei>DLZO3A31IADZ27B62557</lei>
        <title>Massachusetts Institute of Technology</title>
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          <isin value="US575718AE16"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DEVELOPMENT BK OF JAPAN</name>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Suzano Austria GmbH</name>
        <lei>254900287ZNSGVP1R341</lei>
        <title>Suzano Austria GmbH</title>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>225014.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>MidAmerican Energy Co</name>
        <lei>NINLOILYRTLIMK26MZ18</lei>
        <title>MidAmerican Energy Co</title>
        <cusip>595620AQ8</cusip>
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          <isin value="US595620AQ82"/>
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        <curCd>USD</curCd>
        <valUSD>113840.58000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-01</maturityDt>
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        <name>NORTHERN STATES PWR-MINN</name>
        <lei>3S1GHB0TEH85KX44SB51</lei>
        <title>Northern States Power Co/MN</title>
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        <curCd>USD</curCd>
        <valUSD>175118.57000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
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      <invstOrSec>
        <name>LB BADEN-WUERTTEMBERG</name>
        <lei>B81CK4ESI35472RHJ606</lei>
        <title>Landesbank Baden-Wuerttemberg</title>
        <cusip>000000000</cusip>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>207157.49000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-05-31</maturityDt>
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        <name>KOREA ELECTRIC POWER CO</name>
        <lei>988400QG33WS7JEIV602</lei>
        <title>Korea Electric Power Corp</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>MAF SUKUK LTD</name>
        <lei>549300IS9H0W5N2N4K34</lei>
        <title>MAF Sukuk Ltd</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-05-14</maturityDt>
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          <annualizedRt>4.64000000</annualizedRt>
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        <name>State Street Global Advisors</name>
        <lei>5493008BJIBKQ5KTIF74</lei>
        <title>State Street Navigator Securities Lending Government Money Market Portfolio</title>
        <cusip>857492706</cusip>
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          <isin value="US8574927062"/>
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        <balance>463832.50000000</balance>
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        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Klabin Austria GmbH</name>
        <lei>984500578YEA8DD41B09</lei>
        <title>Klabin Austria GmbH</title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-04-03</maturityDt>
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          <annualizedRt>7.00000000</annualizedRt>
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        <name>BANK OF PHILIPPINE ISLAN</name>
        <lei>549300UW4UH6XT2X8C50</lei>
        <title>Bank of the Philippine Islands</title>
        <cusip>000000000</cusip>
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          <isin value="XS2050923825"/>
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        <balance>200000.00000000</balance>
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        <valUSD>203763.83000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <name>Apple Inc</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>Apple Inc</title>
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        <curCd>USD</curCd>
        <valUSD>454374.78000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.00000000</annualizedRt>
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        <name>INTL FINANCE CORP</name>
        <lei>QKL54NQY28TCDAI75F60</lei>
        <title>International Finance Corp</title>
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        <curCd>USD</curCd>
        <valUSD>350617.57000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>XX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.13000000</annualizedRt>
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        <name>REPUBLIC OF CHILE</name>
        <lei>549300FLZTJM5YJF8D34</lei>
        <title>Chile Government International Bond</title>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>732300.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CL</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <name>European Investment Bank</name>
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        <name>Fanniemae-Aces</name>
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          <maturityDt>2024-07-25</maturityDt>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.20000000</annualizedRt>
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        <name>LG Chem Ltd</name>
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        <invCountry>KR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-15</maturityDt>
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        <name>TORONTO-DOMINION BANK</name>
        <lei>PT3QB789TSUIDF371261</lei>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-09-11</maturityDt>
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        <name>KOREA HYDRO &amp; NUCLEAR PO</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-07-25</maturityDt>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>Fanniemae-Aces</name>
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        <name>KFW</name>
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        <title>Kreditanstalt fuer Wiederaufbau</title>
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        <name>INTL BK RECON &amp; DEVELOP</name>
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        <issuerCat>NUSS</issuerCat>
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        <name>EVERGY KANSAS CENTRAL</name>
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        <name>Apple Inc</name>
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        <title>Apple Inc</title>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>IND &amp; COMM BK CHINA/LUX</name>
        <lei>5493002ERZU2K9PZDL40</lei>
        <title>Industrial &amp; Commercial Bank of China Ltd/Luxembourg</title>
        <cusip>000000000</cusip>
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          <isin value="XS1692890343"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>200085.03000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-10-12</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>STAR ENERGY GEOTHERMAL</name>
        <lei>N/A</lei>
        <title>Star Energy Geothermal Wayang Windu Ltd</title>
        <cusip>85511XAC4</cusip>
        <identifiers>
          <isin value="US85511XAC48"/>
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        <balance>90700.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>97632.07000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>VG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-04-24</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Kilroy Realty LP</name>
        <lei>5493008CT3N3JR7P1552</lei>
        <title>Kilroy Realty LP</title>
        <cusip>49427RAN2</cusip>
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          <isin value="US49427RAN26"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>115874.21000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Regency Centers LP</name>
        <lei>5493008PTR2GAOYBXW28</lei>
        <title>Regency Centers LP</title>
        <cusip>75884RAT0</cusip>
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          <isin value="US75884RAT05"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>79166.81000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>INDIAN RAILWAY FINANCE</name>
        <lei>335800F2JHSOGXQEBY56</lei>
        <title>Indian Railway Finance Corp Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="XS1733877762"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>214744.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.84000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Metropolitan Transportation Authority</name>
        <lei>5493000TKYODLXADQD60</lei>
        <title>MET TRANSPRTN AUTH NY REVENUE</title>
        <cusip>59261AG76</cusip>
        <identifiers>
          <isin value="US59261AG765"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>117560.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.18000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NSTAR Electric Co</name>
        <lei>54930080R72Y2Z31UR68</lei>
        <title>NSTAR Electric Co</title>
        <cusip>67021CAN7</cusip>
        <identifiers>
          <isin value="US67021CAN74"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>116369.82000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HAT HOLDINGS I LLC/HAT</name>
        <lei>N/A</lei>
        <title>HAT Holdings I LLC / HAT Holdings II LLC</title>
        <cusip>418751AA1</cusip>
        <identifiers>
          <isin value="US418751AA11"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>104385.50000000</valUSD>
        <pctVal>0.299507493138</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MITSUBISHI UFJ FIN GRP</name>
        <lei>353800V2V8PUY9TK3E06</lei>
        <title>Mitsubishi UFJ Financial Group Inc</title>
        <cusip>606822AH7</cusip>
        <identifiers>
          <isin value="US606822AH76"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>105530.65000000</valUSD>
        <pctVal>0.302793208163</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-09-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.53000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>IND &amp; COMM BK CHINA/SG</name>
        <lei>5493002ERZU2K9PZDL40</lei>
        <title>Industrial &amp; Commercial Bank of China Ltd/Singapore</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS1982691070"/>
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        <balance>275000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>274622.66000000</valUSD>
        <pctVal>0.787959481494</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-04-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.96000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FIRST ABU DHABI BK PJSC</name>
        <lei>2138002Y3WMK6RZS8H90</lei>
        <title>First Abu Dhabi Bank PJSC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS1587035996"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>207005.20000000</valUSD>
        <pctVal>0.593948474822</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-03-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fanniemae-Aces</name>
        <lei>N/A</lei>
        <title>Fannie Mae-Aces</title>
        <cusip>3136AY6X6</cusip>
        <identifiers>
          <isin value="US3136AY6X67"/>
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        <balance>260000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>294872.86000000</valUSD>
        <pctVal>0.846062250917</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.96000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MidAmerican Energy Co</name>
        <lei>NINLOILYRTLIMK26MZ18</lei>
        <title>MidAmerican Energy Co</title>
        <cusip>595620AR6</cusip>
        <identifiers>
          <isin value="US595620AR65"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>266435.56000000</valUSD>
        <pctVal>0.764468692093</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PERUSAHAAN PENERBIT SBSN</name>
        <lei>254900G208H6Q0L5B953</lei>
        <title>Perusahaan Penerbit SBSN Indonesia III</title>
        <cusip>71567PAJ9</cusip>
        <identifiers>
          <isin value="US71567PAJ93"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>105609.50000000</valUSD>
        <pctVal>0.303019448070</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CGNPC INTERNATIONAL LTD</name>
        <lei>3003007JIKH4XTQVZT05</lei>
        <title>CGNPC International Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2014454933"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>210260.00000000</valUSD>
        <pctVal>0.603287290928</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-07-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PERUSAHAAN PENERBIT SBSN</name>
        <lei>254900G208H6Q0L5B953</lei>
        <title>Perusahaan Penerbit SBSN Indonesia III</title>
        <cusip>71567PAM2</cusip>
        <identifiers>
          <isin value="US71567PAM23"/>
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        <balance>0.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.45000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ADANI GREEN ENERGY UP</name>
        <lei>N/A</lei>
        <title>Adani Green Energy UP Ltd / Prayatna Developers Pvt Ltd / Parampujya Solar Energ</title>
        <cusip>000000000</cusip>
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          <isin value="XS1854172043"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>211523.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-12-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Southern Power Co</name>
        <lei>5LADC78JBG2BMZD5XF57</lei>
        <title>Southern Power Co</title>
        <cusip>843646AM2</cusip>
        <identifiers>
          <isin value="US843646AM23"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>291965.96000000</valUSD>
        <pctVal>0.837721644877</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.15000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Inversiones CMPC SA</name>
        <lei>549300G475ACIABB4385</lei>
        <title>Inversiones CMPC SA</title>
        <cusip>46128MAJ0</cusip>
        <identifiers>
          <isin value="US46128MAJ09"/>
        </identifiers>
        <balance>150000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>163284.00000000</valUSD>
        <pctVal>0.468501674175</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.38000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Azure Power Energy Ltd</name>
        <lei>54930051LQDFHGQMHF47</lei>
        <title>Azure Power Energy Ltd</title>
        <cusip>05502JAA8</cusip>
        <identifiers>
          <isin value="US05502JAA88"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>204484.00000000</valUSD>
        <pctVal>0.586714536280</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-11-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2020-08-31</ncom:dateSigned>
      <ncom:nameOfApplicant>VanEck Vectors ETF Trust</ncom:nameOfApplicant>
      <ncom:signature>James Parker</ncom:signature>
      <ncom:signerName>James Parker</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
