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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Tata Chemicals Ltd.</name>
        <lei>335800H6MURUA6FBOW17</lei>
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          <isin value="INE092A01019"/>
          <ticker value="TTCH"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>Prakash Industries Limited</name>
        <lei>335800AJ8RIOQC6DLM11</lei>
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        <cusip>000000000</cusip>
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          <isin value="INE603A01013"/>
          <ticker value="PKI"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
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      <invstOrSec>
        <name>Union Bank of India</name>
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        <title>Union Bank of India INR10</title>
        <cusip>000000000</cusip>
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          <isin value="INE692A01016"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Suzlon Energy Ltd.</name>
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          <isin value="INE040H01021"/>
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          <other otherDesc="SEDOL" value="B0DX8R8"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Garware Technical Fibres Ltd</name>
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          <isin value="INE276A01018"/>
          <ticker value="GTFL"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Nuvoco Vistas Corporation Limited</name>
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        <cusip>000000000</cusip>
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          <isin value="INE118D01016"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Grasim Industries Ltd.</name>
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          <isin value="INE047A01021"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Great Eastern Shipping Co Ltd</name>
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          <isin value="INE017A01032"/>
          <ticker value="GESCO"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Biocon Ltd.</name>
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        <title>Biocon Ltd. INR5</title>
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          <isin value="INE376G01013"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Acc Limited</name>
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          <isin value="INE012A01025"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Alembic Pharmaceuticals ltd</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PB Fintech Ltd.</name>
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        <name>Hero Motocorp Ltd.</name>
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        <name>ACME Solar Holdings Pvt Ltd.</name>
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        <name>NCC Limited</name>
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        <name>Wipro Ltd.</name>
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        <name>Lodha Developers Ltd.</name>
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        <name>Eicher Motors Ltd.</name>
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        <name>ION Exchange</name>
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        <name>Escorts Kubota Ltd.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <name>Adani Power Limited</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AGI Greenpac Ltd.</name>
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          <isin value="INE415A01038"/>
          <ticker value="AGIG"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Mazagon Dock Shipbuilders Ltd</name>
        <lei>335800UWDDBKMF92JF96</lei>
        <title>Mazagon Dock Shipbuilders Ltd INR5(POST SUBD)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE249Z01020"/>
          <ticker value="MAZDOCK"/>
          <other otherDesc="SEDOL" value="BS6Y1L9"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Balmer Lawrie</name>
        <lei>3358003SURMYLPZHV529</lei>
        <title>Balmer Lawrie INR10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE164A01016"/>
          <ticker value="BLCL"/>
          <other otherDesc="SEDOL" value="6152745"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Cartrade Tech Ltd</name>
        <lei>984500F5CDO5D86C1326</lei>
        <title>Cartrade Tech Ltd INR10</title>
        <cusip>000000000</cusip>
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          <isin value="INE290S01011"/>
          <ticker value="CARTRADE"/>
          <other otherDesc="SEDOL" value="BNK8Z10"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>IRB Infrastructure Developers Ltd.</name>
        <lei>335800XGO3AITGW6AK27</lei>
        <title>IRB Infrastructure Developers Ltd. INR1 (POST SUB/ DIV)</title>
        <cusip>000000000</cusip>
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          <isin value="INE821I01022"/>
          <ticker value="IRB"/>
          <other otherDesc="SEDOL" value="BMTY040"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Caplin Point Labor</name>
        <lei>33580043U3LXMROY5J69</lei>
        <title>Caplin Point Labor INR2</title>
        <cusip>000000000</cusip>
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          <isin value="INE475E01026"/>
          <ticker value="CLPL"/>
          <other otherDesc="SEDOL" value="BYNJC27"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Senco Gold Ltd.</name>
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        <title>Senco Gold Ltd. INR5(POST SUBD)</title>
        <cusip>000000000</cusip>
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          <isin value="INE602W01027"/>
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          <other otherDesc="SEDOL" value="BSS9GR3"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Alkyl Amines</name>
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        <title>Alkyl Amines INR2(POST SUBD)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE150B01039"/>
          <ticker value="AACL"/>
          <other otherDesc="SEDOL" value="BMGH718"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Gail India Ltd.</name>
        <lei>335800N82LJD42ZA5L32</lei>
        <title>Gail India Ltd. INR10</title>
        <cusip>000000000</cusip>
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          <isin value="INE129A01019"/>
          <ticker value="GAIL"/>
          <other otherDesc="SEDOL" value="6133405"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>GMR Power &amp; Urban Infra Ltd.</name>
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        <cusip>000000000</cusip>
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          <ticker value="GMRPUI"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Bombay Burmah Trading Corporation Ltd.(The)</name>
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        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Goodluck India Limited</name>
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        <title>Goodluck India Limited INR2</title>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <name>Oracle Fin Service</name>
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        <name>Karur Vysya Bank Ltd.</name>
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        <name>KEI Industries Ltd</name>
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        <name>Kansai Nerolac Paints Ltd.</name>
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        <name>Nippon Life India Asset Management Limited</name>
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        <name>Hindalco Industries Ltd.</name>
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        <name>Page Industries Ltd.</name>
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        <invCountry>IN</invCountry>
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        <name>Siyaram Silk Mills Limited</name>
        <lei>335800ZRJXFRAURS2972</lei>
        <title>Siyaram Silk Mills Limited INR2</title>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <name>Bls International Services Ltd</name>
        <lei>335800SN9BX5PUTSHV77</lei>
        <title>Bls International Services Ltd INR1</title>
        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>HSBC BANK PLC</name>
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        <name>Tata Power Co Ltd.</name>
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        <name>Divis Laboratories Ltd.</name>
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        <name>Styrenix Performance Materials Ltd.</name>
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      <invstOrSec>
        <name>Digitide Solutions Ltd.</name>
        <lei>33580021ZU35YFCVXP79</lei>
        <title>Digitide Solutions Ltd. INR10</title>
        <cusip>000000000</cusip>
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          <isin value="INE0U4701011"/>
          <other otherDesc="SEDOL" value="BS85Z52"/>
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        <balance>108228.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ZEE Entertainment Enterprises Ltd.</name>
        <lei>254900EQIYPXZEO10B94</lei>
        <title>ZEE Entertainment Enterprises Ltd. INR1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE256A01028"/>
          <ticker value="Z"/>
          <other otherDesc="SEDOL" value="6188535"/>
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        <balance>385250.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DCB Bank Limited</name>
        <lei>549300HLUOQ4ZGINVI30</lei>
        <title>DCB Bank Limited INR10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE503A01015"/>
          <ticker value="DCBB"/>
          <other otherDesc="SEDOL" value="B0ZJXW4"/>
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        <balance>624787.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Cyient Limited</name>
        <lei>335800MJOXTUJ22Y4T72</lei>
        <title>Cyient Limited INR5</title>
        <cusip>000000000</cusip>
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          <isin value="INE136B01020"/>
          <ticker value="CYL"/>
          <other otherDesc="SEDOL" value="B19HGC2"/>
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        <balance>83740.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Karnataka Bank Ltd.</name>
        <lei>335800G1GTTVASBXVW10</lei>
        <title>Karnataka Bank Ltd. INR10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE614B01018"/>
          <ticker value="KBL"/>
          <other otherDesc="SEDOL" value="6130064"/>
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        <balance>774618.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sona BLW Precision Forgings Ltd.</name>
        <lei>335800LEL76GE6551Q27</lei>
        <title>Sona BLW Precision Forgings Ltd. INR10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE073K01018"/>
          <ticker value="SONACOM"/>
          <other otherDesc="SEDOL" value="BNR5NG5"/>
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        <balance>107879.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ICICI Prudential Life Insurance Co Ltd.</name>
        <lei>2138006W2MGOSH69C607</lei>
        <title>ICICI Prudential Life Insurance Co Ltd. INR10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE726G01019"/>
          <ticker value="IPRU"/>
          <other otherDesc="SEDOL" value="BYXL8H0"/>
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        <balance>163680.00000000</balance>
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        <pctVal>0.042109931098</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Canara Bank</name>
        <lei>335800E4RH82Z8XC3C30</lei>
        <title>Canara Bank INR2</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE476A01022"/>
          <ticker value="CBK"/>
          <other otherDesc="SEDOL" value="BS5WYP9"/>
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        <balance>10617259.00000000</balance>
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        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Motilal Oswal Financial Services Ltd</name>
        <lei>3358004GYYY6FUXX1P93</lei>
        <title>Motilal Oswal Financial Services Ltd INR1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE338I01027"/>
          <ticker value="MOFS"/>
          <other otherDesc="SEDOL" value="B233M14"/>
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        <balance>88900.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Newgen Software Technologies Limited</name>
        <lei>335800WRTIML8UTR8X82</lei>
        <title>Newgen Software Technologies Limited INR10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE619B01017"/>
          <ticker value="NEWGEN"/>
          <other otherDesc="SEDOL" value="BG06NL1"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Teamlease Services Ltd</name>
        <lei>335800SX5B4O4YX1WA11</lei>
        <title>Teamlease Services Ltd INR10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE985S01024"/>
          <ticker value="TEAM"/>
          <other otherDesc="SEDOL" value="BYT2WF3"/>
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        <balance>37072.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Gabriel India Ltd.</name>
        <lei>335800N5IVWLLVVTL509</lei>
        <title>Gabriel India Ltd. INR1</title>
        <cusip>000000000</cusip>
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          <isin value="INE524A01029"/>
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          <other otherDesc="SEDOL" value="B0V4MC6"/>
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        <balance>111542.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Ghcl Ltd</name>
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        <title>Ghcl Ltd INR10</title>
        <cusip>000000000</cusip>
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          <isin value="INE539A01019"/>
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          <other otherDesc="SEDOL" value="6397579"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Cummins India Ltd.</name>
        <lei>3358002PR6NKJRU4YS77</lei>
        <title>Cummins India Ltd. INR2</title>
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          <isin value="INE298A01020"/>
          <ticker value="KKC"/>
          <other otherDesc="SEDOL" value="6294863"/>
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        <balance>139672.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Delta Corp Ltd</name>
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        <title>Delta Corp Ltd INR1</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Indian Railway Catering And Tourism Corporation Limited</name>
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          <ticker value="IRCTC"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Century Plyboards India Ltd.</name>
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          <ticker value="CPBI"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Mrs. Bectors Food Specialities Limited</name>
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        <title>Mrs. Bectors Food Specialities Limited INR2(POST SUB)</title>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Godfrey Phillips</name>
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        <title>Godfrey Phillips INR2</title>
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          <ticker value="GP"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>NLC India Limited</name>
        <lei>335800ZUJIL59GOZUW75</lei>
        <title>NLC India Limited INR10</title>
        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Vishal Mega Mart Ltd.</name>
        <lei>335800AL4QPSIFSU3936</lei>
        <title>Vishal Mega Mart Ltd. INR10</title>
        <cusip>000000000</cusip>
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          <ticker value="VMM"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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        <name>Gujarat Industries Power Co.</name>
        <lei>335800CV3K9PSMR28954</lei>
        <title>Gujarat Industries Power Co. INR10</title>
        <cusip>000000000</cusip>
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          <ticker value="GIP"/>
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      <invstOrSec>
        <name>Ahluwalia Cont Ltd</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>KPIT Technologies Limited</name>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>Siemens Energy India Ltd.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>TATA Consumer Products Ltd.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Tega Industries Limited</name>
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        <assetCat>EC</assetCat>
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        <name>Aegis Logistics Ltd.</name>
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        <name>Gulf Oil Lubricants Ltd</name>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Cigniti Technologies Ltd.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>JK Cements Ltd</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Strides Pharma Science Ltd</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Gujarat Mineral Development Corp.</name>
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        <name>Electrosteel Castings Ltd.</name>
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        <name>Gramophone Co Of India Ltd</name>
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        <name>Samvardhana Motherson International ltd</name>
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        <name>Balkrishna Industries Ltd.</name>
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        <name>Heritage Foods Limited</name>
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        <name>PG Electroplast Lt</name>
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        <name>HDFC Bank Ltd.</name>
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        <name>Metropolis Healthcare Ltd</name>
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        <name>Metro Brands Ltd</name>
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        <name>LT Foods Ltd</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Blue Star Ltd.</name>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Sumitomo Chemical India Ltd</name>
        <lei>335800L1XZBQ95MM4J51</lei>
        <title>Sumitomo Chemical India Ltd INR10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE258G01013"/>
          <ticker value="SUMICHE"/>
          <other otherDesc="SEDOL" value="BL1N1S9"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Vijaya Diagnostic Centre Ltd.</name>
        <lei>33580036Q5DTJTG86994</lei>
        <title>Vijaya Diagnostic Centre Ltd. INR1</title>
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          <isin value="INE043W01024"/>
          <ticker value="VIJAYA"/>
          <other otherDesc="SEDOL" value="BPDXQ02"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Dalmia Bharat Refractories Ltd.</name>
        <lei>335800QSK4HO7KPETY31</lei>
        <title>Dalmia Bharat Refractories Ltd. INR10</title>
        <cusip>000000000</cusip>
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          <isin value="INE0EB001012"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>DREYFUS TRSY OBLIG CASH M</name>
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        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="DTRXX"/>
          <other otherDesc="INTERNAL" value="X9USDDRET"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PNC Infratech Limited</name>
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        <title>PNC Infratech Limited INR2</title>
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          <isin value="INE195J01029"/>
          <ticker value="PNCL"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HCL Technologies Ltd.</name>
        <lei>549300C1F8OLYSOQYB65</lei>
        <title>HCL Technologies Ltd. INR2</title>
        <cusip>000000000</cusip>
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          <isin value="INE860A01027"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Kalyani Steels Ltd.</name>
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          <isin value="INE907A01026"/>
          <ticker value="KS"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Carborundum Universal Limited</name>
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        <title>Carborundum Universal Limited INR1</title>
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          <isin value="INE120A01034"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Cosmo First Ltd.</name>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Blue Jet Healthcare Ltd.</name>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Ujjivan Small Finance Bank Limited</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>L&amp;T Technology Services Ltd.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Transrail Lighting Ltd.</name>
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        <assetCat>EC</assetCat>
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        <name>Welspun Corp Ltd</name>
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        <name>Jindal Steel Ltd.</name>
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        <name>Lloyds Metals &amp; Energy Ltd</name>
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        <name>Apar Industries Ltd.</name>
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        <name>SBI Cards &amp; Payment Services Ltd.</name>
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        <invCountry>IN</invCountry>
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        <name>Bank of Baroda</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <name>Indian Energy Exchange Ltd</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Force Motors Ltd</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Care Ratings Limited</name>
        <lei>335800BPDT71YUVM2E79</lei>
        <title>Care Ratings Limited INR10</title>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Lemon Tree Hotels Limited</name>
        <lei>335800QFBWIUBBCRJN72</lei>
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        <cusip>000000000</cusip>
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          <isin value="INE970X01018"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Kajaria Ceramics Ltd.</name>
        <lei>3358007XN6AXJ1V67M07</lei>
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          <isin value="INE217B01036"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>JK Tyre &amp; Industries Ltd.</name>
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        <title>JK Tyre &amp; Industries Ltd. INR2</title>
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          <isin value="INE573A01042"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Hindustan Oil Expl</name>
        <lei>335800K6OMG63FQXPZ86</lei>
        <title>Hindustan Oil Expl INR10</title>
        <cusip>000000000</cusip>
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          <isin value="INE345A01011"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Grindwell Norton Ltd.</name>
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        <title>Grindwell Norton Ltd. INR5</title>
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          <isin value="INE536A01023"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Clean Science &amp; Technology Ltd.</name>
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          <isin value="INE227W01023"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Chambal Fertilisers and Chemicals Ltd.</name>
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        <cusip>000000000</cusip>
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          <isin value="INE085A01013"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Avanti Feeds Ltd.</name>
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        <cusip>000000000</cusip>
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          <ticker value="AVNT"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Alivus Life Sciences Ltd.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Jai Balaji Industries Ltd.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Triveni Engineering &amp; Industries Ltd</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Godrej Properties Ltd.</name>
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        <invCountry>IN</invCountry>
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        <name>Go Fashion (India) Limited</name>
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        <name>Bhansali Eng Polym</name>
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        <name>Star Cement Ltd</name>
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        <name>Godrej Industries Ltd.</name>
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        <name>Godrej Agrovet Ltd.</name>
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        <name>R R Kabel Ltd .</name>
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        <name>Torrent Pharmaceuticals Ltd.</name>
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        <invCountry>IN</invCountry>
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        <name>Solar Industries India Limited</name>
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      </invstOrSec>
      <invstOrSec>
        <name>Kotak Mahindra Bank Ltd.</name>
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          <isin value="INE237A01036"/>
          <ticker value="KMB"/>
          <other otherDesc="SEDOL" value="BNBX1W7"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Patel Engineering Limited</name>
        <lei>335800DDGBBTMMDYA829</lei>
        <title>Patel Engineering Limited INR1</title>
        <cusip>000000000</cusip>
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          <isin value="INE244B01030"/>
          <ticker value="PEC"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Epl Limited</name>
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        <cusip>000000000</cusip>
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          <isin value="INE255A01020"/>
          <ticker value="EPLL"/>
          <other otherDesc="SEDOL" value="B15T3F4"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>National Aluminum</name>
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          <ticker value="NACL"/>
          <other otherDesc="SEDOL" value="6139447"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Graphite India Ltd.</name>
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          <isin value="INE371A01025"/>
          <ticker value="GRIL"/>
          <other otherDesc="SEDOL" value="B1KMXR0"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Narayana Hrudayalaya Limited</name>
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        <cusip>000000000</cusip>
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          <isin value="INE410P01011"/>
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          <other otherDesc="SEDOL" value="BD0CSH9"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>IIFL Capital Services Ltd.</name>
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        <cusip>000000000</cusip>
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          <isin value="INE489L01022"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Supreme Industries Ltd. (The)</name>
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        <cusip>000000000</cusip>
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          <isin value="INE195A01028"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>United Breweries Ltd.</name>
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        <title>United Breweries Ltd. INR1</title>
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          <isin value="INE686F01025"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Ambuja Cements Ltd.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Gillette India Ltd</name>
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        <title>Gillette India Ltd INR10</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Sudarshan Chemical Industries Ltd.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Firstsource Solutions Limited</name>
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        <assetCat>EC</assetCat>
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        <name>Max Financial Services Limited</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Mmtc Ltd.</name>
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        <name>Coforge Limited</name>
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        <name>Voltas Ltd.</name>
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      <invstOrSec>
        <name>Computer Age Management Services Ltd</name>
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        <name>Welspun Enterprises Ltd</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Steel Authority of India Ltd.</name>
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        <assetCat>EC</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Jubilant FoodWorks Ltd.</name>
        <lei>9845000D3B99893F5B14</lei>
        <title>Jubilant FoodWorks Ltd. INR2 (POST SUB)</title>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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      <invstOrSec>
        <name>Hitachi Energy India Limited</name>
        <lei>549300ASJQYQLII9F213</lei>
        <title>Hitachi Energy India Limited INR2</title>
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          <isin value="INE07Y701011"/>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>KEC International</name>
        <lei>335800UCWKGDJBU7ZT31</lei>
        <title>KEC International INR2</title>
        <cusip>000000000</cusip>
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          <isin value="INE389H01022"/>
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          <other otherDesc="SEDOL" value="B0YJJ27"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Motherson Sumi Wiring India Ltd.</name>
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        <title>Motherson Sumi Wiring India Ltd. INR1</title>
        <cusip>000000000</cusip>
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          <isin value="INE0FS801015"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TVS Motor Company Limited</name>
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        <title>TVS Motor Company Limited 6% PREF 01/09/2026</title>
        <cusip>000000000</cusip>
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          <isin value="INE494B04019"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Bharat Dynamics Limited</name>
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        <title>Bharat Dynamics Limited INR 5 (POST SUB)</title>
        <cusip>000000000</cusip>
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          <isin value="INE171Z01026"/>
          <ticker value="BDL"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Cie Automotive India Ltd.</name>
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        <title>Cie Automotive India Ltd. INR10</title>
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          <isin value="INE536H01010"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Waaree Energies Ltd.</name>
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          <isin value="INE377N01017"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Ratnamani Met &amp;Tbs</name>
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        <title>Ratnamani Met &amp;Tbs INR2</title>
        <cusip>000000000</cusip>
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          <isin value="INE703B01027"/>
          <ticker value="RMT"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Nesco Ltd.</name>
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        <title>Nesco Ltd. INR2</title>
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          <isin value="INE317F01035"/>
          <ticker value="NSE"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>NHPC Ltd.</name>
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        <title>NHPC Ltd. INR10</title>
        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Parag Milk Foods Private Ltd.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <name>Kaveri Seed Company Limited</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Beml Ltd</name>
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        <name>Uti Asset Management Co Ltd.</name>
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        <name>Supriya Lifescience Ltd</name>
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        <name>Chennai Petroleum Corporation Limited</name>
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        <name>NBCC (India) Limited</name>
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        <name>Bharti Hexacom Ltd.</name>
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        <name>CCL Products(Ind)</name>
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        <invCountry>IN</invCountry>
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        <name>Engineers India Ltd.</name>
        <lei>335800D8QCOQANG91D62</lei>
        <title>Engineers India Ltd. INR5</title>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <name>Alkem Laboratories Ltd.</name>
        <lei>335800GCAE5WIF4PSG69</lei>
        <title>Alkem Laboratories Ltd. INR2</title>
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          <ticker value="ALKEM"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Multi Commodity Exchange Of India Ltd.</name>
        <lei>254900BTZEPM27IOAM68</lei>
        <title>Multi Commodity Exchange Of India Ltd. INR2(POST SUBD)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE745G01043"/>
          <ticker value="MCX"/>
          <other otherDesc="SEDOL" value="BNBWQ85"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Ashoka Buildcon Ltd</name>
        <lei>33580029UHVG78GXPC56</lei>
        <title>Ashoka Buildcon Ltd INR5</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE442H01029"/>
          <ticker value="ASBL"/>
          <other otherDesc="SEDOL" value="BC43RR4"/>
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        <balance>852375.00000000</balance>
        <units>NS</units>
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        <valUSD>917809.24000000</valUSD>
        <pctVal>0.043952759617</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Titagarh Rail Systems Ltd.</name>
        <lei>335800TP8W734TPCXK95</lei>
        <title>Titagarh Rail Systems Ltd. INR2</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE615H01020"/>
          <ticker value="TITAGARH"/>
          <other otherDesc="SEDOL" value="BWZ1HS8"/>
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        <balance>788.00000000</balance>
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        <pctVal>0.000228708645</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Kirloskar Pneumati</name>
        <lei>335800A69RUOHVATLI89</lei>
        <title>Kirloskar Pneumati INR2 (POST SUB DIVISION)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE811A01020"/>
          <ticker value="KKPC"/>
          <other otherDesc="SEDOL" value="BGRDWR4"/>
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        <balance>28158.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
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        <pctVal>0.014785542240</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ITC Hotels Ltd.</name>
        <lei>335800IFHF7F1488ND22</lei>
        <title>ITC Hotels Ltd. INR1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE379A01028"/>
          <ticker value="ITCHOTEL"/>
          <other otherDesc="SEDOL" value="BRVVXW3"/>
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        <balance>50110.00000000</balance>
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        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
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        <pctVal>0.003488158943</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HDFC Asset Management Co Ltd.</name>
        <lei>3358002FLK8AK8WSEP31</lei>
        <title>HDFC Asset Management Co Ltd. INR5</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE127D01025"/>
          <ticker value="HDFCAMC"/>
          <other otherDesc="SEDOL" value="BG0R3M5"/>
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        <balance>223139.00000000</balance>
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        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
        <valUSD>5214251.95000000</valUSD>
        <pctVal>0.249704135187</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Laurus Labs Ltd</name>
        <lei>335800S8HO8QRYP3VQ26</lei>
        <title>Laurus Labs Ltd INR2 (POST SUBD)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE947Q01028"/>
          <ticker value="LAURUS"/>
          <other otherDesc="SEDOL" value="BMZ1CH2"/>
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        <balance>554483.00000000</balance>
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        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
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        <pctVal>0.277912683472</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Isgec Heavy Engineering Ltd</name>
        <lei>3358006TIMBO8LT28Z83</lei>
        <title>Isgec Heavy Engineering Ltd INR1(POST SUBDIVISION)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE858B01029"/>
          <ticker value="IGSEC"/>
          <other otherDesc="SEDOL" value="BJXFHW5"/>
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        <balance>34400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
        <valUSD>312723.15000000</valUSD>
        <pctVal>0.014975928373</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Balaji Amines Ltd</name>
        <lei>3358009DS8RG4Z8QBD69</lei>
        <title>Balaji Amines Ltd INR2</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE050E01027"/>
          <ticker value="BLA"/>
          <other otherDesc="SEDOL" value="B03RN31"/>
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        <balance>29063.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
        <valUSD>299427.92000000</valUSD>
        <pctVal>0.014339236103</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Godawari Power And Ispat Limited</name>
        <lei>335800BC29IHAN5IOG37</lei>
        <title>Godawari Power And Ispat Limited INR1 (POST SUBD)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE177H01039"/>
          <ticker value="GODPI"/>
          <other otherDesc="SEDOL" value="BP7ML77"/>
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        <balance>702941.00000000</balance>
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        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
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        <pctVal>0.095400412208</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Anant Raj Ltd</name>
        <lei>335800J1QMHJ15K7PF47</lei>
        <title>Anant Raj Ltd INR2.00</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE242C01024"/>
          <ticker value="ARCP"/>
          <other otherDesc="SEDOL" value="B0BP4L2"/>
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        <balance>86408.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
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        <pctVal>0.017699502807</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Icici Lombard Gen Insurance Co Ltd</name>
        <lei>335800ZZITZ7ZZZ2ZX87</lei>
        <title>Icici Lombard Gen Insurance Co Ltd INR10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE765G01017"/>
          <ticker value="ICICIGI"/>
          <other otherDesc="SEDOL" value="BYXH7P9"/>
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        <balance>257159.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
        <valUSD>4637870.14000000</valUSD>
        <pctVal>0.222101916732</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Texmaco Rail &amp; Engineering Ltd</name>
        <lei>335800JU417USDLP2O12</lei>
        <title>Texmaco Rail &amp; Engineering Ltd INR1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE621L01012"/>
          <ticker value="TXMRE"/>
          <other otherDesc="SEDOL" value="B3R7X83"/>
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        <balance>311839.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Deepak Fertilisers and Petrochemicals Corp Ltd</name>
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        <title>Deepak Fertilisers and Petrochemicals Corp Ltd INR10</title>
        <cusip>000000000</cusip>
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          <ticker value="DFPC"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Exide Industries Ltd.</name>
        <lei>335800X6SNGIZCBA9V34</lei>
        <title>Exide Industries Ltd. INR1</title>
        <cusip>000000000</cusip>
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          <isin value="INE302A01020"/>
          <ticker value="EXID"/>
          <other otherDesc="SEDOL" value="B1D3ZC9"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>INVENTURUS KNOWLEDGE SOLUTIONS LTD</name>
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        <title>Inventurus Knowledge Solutions Ltd. INR1</title>
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          <isin value="INE115Q01022"/>
          <ticker value="IKS"/>
          <other otherDesc="SEDOL" value="BTNLBF4"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Angel One Limited</name>
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        <title>Angel One Limited INR1(POST SUBD)</title>
        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Symphony Ltd</name>
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        <title>Symphony Ltd INR2</title>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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      <invstOrSec>
        <name>Ramkrishna Forgins Ltd.</name>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Apollo Hospitals Enterprise Ltd.</name>
        <lei>3358005YT7JQCWYLTG43</lei>
        <title>Apollo Hospitals Enterprise Ltd. INR5</title>
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          <ticker value="APHS"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Sun Pharmaceutical Industries Ltd.</name>
        <lei>335800KJ7GE29LB4SS73</lei>
        <title>Sun Pharmaceutical Industries Ltd. INR1(DEMAT)</title>
        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Astral Ltd</name>
        <lei>3358007M1SKFTVDRMC40</lei>
        <title>Astral Ltd INR1</title>
        <cusip>000000000</cusip>
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      <invstOrSec>
        <name>EID-Parry(India) Ltd</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Polycab India Limited</name>
        <lei>335800ZAL1L11ERZVW68</lei>
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        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>Premier Energies Ltd.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Indegene Ltd.</name>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
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      <invstOrSec>
        <name>Hindustan Unilever Ltd.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Happiest Minds Technologies Ltd</name>
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        <title>Happiest Minds Technologies Ltd INR2</title>
        <cusip>000000000</cusip>
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          <isin value="INE419U01012"/>
          <ticker value="HAPPSTM"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Mankind Pharma Ltd.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Cohance Lifesciences Ltd.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ABB India Ltd.</name>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>Pearl Global Industries Limited</name>
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      <invstOrSec>
        <name>Adani Energy Solutions Ltd.</name>
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        <name>NMDC Ltd.</name>
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        <name>Genus Prime Infra Ltd</name>
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        <name>TVS Motor Company Limited</name>
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        <name>VST Industries Ltd.</name>
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        <name>Indo Count Industries Ltd</name>
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        <name>Rites Limited</name>
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        <name>Kirloskar Oil Engi</name>
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        <name>Thermax Ltd.</name>
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        <name>Nocil Ltd</name>
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        <invCountry>IN</invCountry>
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        <name>Varroc Engineering Limited</name>
        <lei>335800FNOMF13H8K8484</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Vedanta Ltd.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NRB Bearings Limited</name>
        <lei>335800SD6UTQ9U6XCP10</lei>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>JSW Steel Ltd.</name>
        <lei>335800EK6HZSC4CVAJ09</lei>
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        <cusip>000000000</cusip>
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          <isin value="INE019A01038"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Rashtriya Chemicals And Fertilizers Limited</name>
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          <isin value="INE027A01015"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Astra Microwave Products Limited</name>
        <lei>3358006ZA3N8KZ1R6P76</lei>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Bank of India Ltd.</name>
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          <isin value="INE084A01016"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Quess Corp Ltd</name>
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        <title>Quess Corp Ltd INR10</title>
        <cusip>000000000</cusip>
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          <isin value="INE615P01015"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Kfin Technologies Ltd.</name>
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          <isin value="INE138Y01010"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Banco Products</name>
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          <isin value="INE213C01025"/>
          <ticker value="BNCO"/>
          <other otherDesc="SEDOL" value="B03G1S9"/>
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        <balance>41641.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PI Industries Ltd.</name>
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        <cusip>000000000</cusip>
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          <isin value="INE603J01030"/>
          <ticker value="PI"/>
          <other otherDesc="SEDOL" value="B992PT3"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Rainbow Childrens Medicare Ltd.</name>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>JBChemicals &amp; Ph</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Medplus Health Services Limited</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Syrma SGS Technology Ltd.</name>
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        <invCountry>IN</invCountry>
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        <name>Syngene International Ltd</name>
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        <name>Mahanagar Gas Ltd</name>
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        <name>HDFC Life Insurance Co Ltd.</name>
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        <invCountry>IN</invCountry>
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        <name>The New India Assurance Company Ltd</name>
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        <name>India Glycol</name>
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        <assetCat>EC</assetCat>
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        <name>Acutaas Chemicals Ltd.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <name>Bharti Airtel Ltd.</name>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Jana Small Finance Bank Limited</name>
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          <isin value="INE953L01027"/>
          <ticker value="JSFB"/>
          <other otherDesc="SEDOL" value="BMW63H7"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Jsw Infrastructure Ltd</name>
        <lei>3358003E3YFK92C9WX80</lei>
        <title>Jsw Infrastructure Ltd INR2</title>
        <cusip>000000000</cusip>
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          <isin value="INE880J01026"/>
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          <other otherDesc="SEDOL" value="BRJ9HQ1"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Mphasis Ltd.</name>
        <lei>335800NSYTIQLQKUYP62</lei>
        <title>Mphasis Ltd. INR10</title>
        <cusip>000000000</cusip>
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          <isin value="INE356A01018"/>
          <ticker value="MPHL"/>
          <other otherDesc="SEDOL" value="6151593"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Laxmi Organic Industries Ltd.</name>
        <lei>3358004DCKVZKHQZH569</lei>
        <title>Laxmi Organic Industries Ltd. INR2</title>
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          <isin value="INE576O01020"/>
          <ticker value="LXCHEM"/>
          <other otherDesc="SEDOL" value="BMW25T1"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ITC Ltd.</name>
        <lei>335800WLOU3OFWFTMP43</lei>
        <title>ITC Ltd. INR1</title>
        <cusip>000000000</cusip>
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          <isin value="INE154A01025"/>
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          <other otherDesc="SEDOL" value="B0JGGP5"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Indian Hotels Co Ltd. (The)</name>
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        <cusip>000000000</cusip>
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          <isin value="INE053A01029"/>
          <ticker value="IH"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SRF Limited</name>
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        <title>SRF Limited INR10(DEMAT)</title>
        <cusip>000000000</cusip>
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          <isin value="INE647A01010"/>
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          <other otherDesc="SEDOL" value="6374947"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Zensar Technologies Ltd.</name>
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        <title>Zensar Technologies Ltd. INR2(POST SUB-DIVISION)</title>
        <cusip>000000000</cusip>
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          <isin value="INE520A01027"/>
          <ticker value="ZENT"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Apollo Tyres Limited</name>
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          <isin value="INE438A01022"/>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>RBL Bank Ltd.</name>
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        <title>RBL Bank Ltd. INR10</title>
        <cusip>000000000</cusip>
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          <isin value="INE976G01028"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Jubilant Ingrevia Limited</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Tips Music Ltd.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Indian Bank</name>
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        <name>Shyam Metalics And Energy Ltd.</name>
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        <name>Schaeffler India Ltd</name>
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        <name>Dilip Buildcon Ltd</name>
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        <name>Shree Cement Ltd.</name>
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        <name>Kiri Dyes And Chem</name>
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        <name>Life Insurance Corp. Of India</name>
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        <name>OIL India Ltd.</name>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Steel Strips Wheel</name>
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        <title>Steel Strips Wheel IN1.00 (POST SUBD)</title>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Rallis India Ltd</name>
        <lei>335800HI7I928BFJB442</lei>
        <title>Rallis India Ltd INR1</title>
        <cusip>000000000</cusip>
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        <name>Krishna Institute of Medical Sciences Ltd.</name>
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        <assetCat>EC</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>GANESH HOUSING LTD</name>
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        <title>Ganesh Housing Ltd. INR10(DEMAT)</title>
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          <isin value="INE460C01014"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Jamna Auto Industries Ltd</name>
        <lei>3358006EVPQJ73L2ZB08</lei>
        <title>Jamna Auto Industries Ltd INR1</title>
        <cusip>000000000</cusip>
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          <isin value="INE039C01032"/>
          <ticker value="JMNA"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Bikaji Foods International Ltd.</name>
        <lei>335800L7NF5DOD1W7A75</lei>
        <title>Bikaji Foods International Ltd. INR1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE00E101023"/>
          <ticker value="BIKAJI"/>
          <other otherDesc="SEDOL" value="BN95Y82"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Max Healthcare Institute Ltd.</name>
        <lei>3358005LALYV4GZOYF67</lei>
        <title>Max Healthcare Institute Ltd. INR10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE027H01010"/>
          <ticker value="MAXHEALT"/>
          <other otherDesc="SEDOL" value="BMB2291"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SUN Tv Network Ltd</name>
        <lei>335800IW6TQ3AJJLEO48</lei>
        <title>SUN Tv Network Ltd INR5</title>
        <cusip>000000000</cusip>
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          <isin value="INE424H01027"/>
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          <other otherDesc="SEDOL" value="B128WL3"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Minda Corp Ltd</name>
        <lei>335800VFUI1QAYGOYK17</lei>
        <title>Minda Corp Ltd INR2</title>
        <cusip>000000000</cusip>
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          <isin value="INE842C01021"/>
          <ticker value="MDA"/>
          <other otherDesc="SEDOL" value="BV7KKK9"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Deepak Nitrite Limited</name>
        <lei>335800FKRXU8C9F4PI09</lei>
        <title>Deepak Nitrite Limited INR2</title>
        <cusip>000000000</cusip>
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          <isin value="INE288B01029"/>
          <ticker value="DN"/>
          <other otherDesc="SEDOL" value="BNGMX23"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Colgate-Palmolive (India) Ltd.</name>
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          <isin value="INE259A01022"/>
          <ticker value="CLGT"/>
          <other otherDesc="SEDOL" value="6139696"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Linde India Ltd</name>
        <lei>549300I8YN6PVG2KEU64</lei>
        <title>Linde India Ltd INR10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE473A01011"/>
          <ticker value="LIIL"/>
          <other otherDesc="SEDOL" value="6180694"/>
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        <balance>9493.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Dabur India Ltd.</name>
        <lei>335800MJPUA2E1FSFL38</lei>
        <title>Dabur India Ltd. INR1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE016A01026"/>
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          <other otherDesc="SEDOL" value="6297356"/>
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        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mayur Uniquoters Ltd.</name>
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        <title>Mayur Uniquoters Ltd. INR5</title>
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          <isin value="INE040D01038"/>
          <ticker value="MUNI"/>
          <other otherDesc="SEDOL" value="BF5GCK1"/>
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        <balance>40385.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TD Power Systems P</name>
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          <isin value="INE419M01027"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Bharat Heavy Electricals Ltd.</name>
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          <ticker value="BHEL"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Aurionpro Solutions Ltd.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <name>Rattanindia Enterprises Limited</name>
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        <invCountry>IN</invCountry>
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        <name>Bosch Ltd.</name>
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        <name>Safari Industries</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <name>Timken India Ltd.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <name>Adani Total Gas Ltd.</name>
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          <ticker value="ATGL"/>
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        <invCountry>IN</invCountry>
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        <name>Surya Roshni Limited</name>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>AIA Engeneering Limited</name>
        <lei>3358009DFG4JFX1O8H85</lei>
        <title>AIA Engeneering Limited INR2</title>
        <cusip>000000000</cusip>
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          <ticker value="AIAE"/>
          <other otherDesc="SEDOL" value="B0QDXM5"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Craftsman Automation Ltd</name>
        <lei>335800Q4QC33YL9M8C65</lei>
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          <isin value="INE00LO01017"/>
          <ticker value="CRAFTSM"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Coromandel International Ltd</name>
        <lei>335800U73K3HJSQKT249</lei>
        <title>Coromandel International Ltd INR1</title>
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          <isin value="INE169A01031"/>
          <ticker value="CRIN"/>
          <other otherDesc="SEDOL" value="B0VDZN5"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Whirlpool Of India Ltd.</name>
        <lei>335800XP84MJSVAKMW93</lei>
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          <isin value="INE716A01013"/>
          <ticker value="WHIRL"/>
          <other otherDesc="SEDOL" value="6291790"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Indian Oil Corp Ltd.</name>
        <lei>335800J8OBWE4VFUDG88</lei>
        <title>Indian Oil Corp Ltd. INR10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE242A01010"/>
          <ticker value="IOCL"/>
          <other otherDesc="SEDOL" value="6253767"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>JK Lakshmi Cement Ltd.</name>
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        <title>JK Lakshmi Cement Ltd. INR5</title>
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          <isin value="INE786A01032"/>
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          <other otherDesc="SEDOL" value="B12G4M2"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Krsnaa Diagnostics Ltd</name>
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          <isin value="INE08LI01020"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Archean Chemical Industries Ltd.</name>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>AWL Agri Business Ltd.</name>
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          <isin value="INE699H01024"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Britannia Industries Ltd.</name>
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          <ticker value="BRIT"/>
          <other otherDesc="SEDOL" value="BGSQG47"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Tata Steel Ltd.</name>
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          <ticker value="TATA"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Krbl Ltd</name>
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        <title>Krbl Ltd INR1</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Cipla Ltd.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Marksans Pharma Lt</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Cemindia Projects Ltd.</name>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Brigade Enterprises Ltd.</name>
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        <invCountry>IN</invCountry>
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        <name>Star Health &amp; Allied Insurance Co Ltd.</name>
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        <name>Bandhan Bank Ltd.</name>
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        <invCountry>IN</invCountry>
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        <name>Uno Minda Ltd.</name>
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        <invCountry>IN</invCountry>
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        <name>IndiaMART InterMESH Ltd.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Container Corporation of India Ltd.</name>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Polyplex Corp Ltd.</name>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Kirloskar Brothers Limited</name>
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        <title>Kirloskar Brothers Limited INR2</title>
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          <isin value="INE732A01036"/>
          <ticker value="KKB"/>
          <other otherDesc="SEDOL" value="B0F4S35"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Schneider Electric Infrastructure Ltd.</name>
        <lei>335800RG2MGPWVQQG739</lei>
        <title>Schneider Electric Infrastructure Ltd. INR2</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE839M01018"/>
          <ticker value="SCHN"/>
          <other otherDesc="SEDOL" value="B73XF87"/>
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        <balance>16284.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Time Technoplast Limited</name>
        <lei>335800CUG2DKZU3BVX77</lei>
        <title>Time Technoplast Limited INR1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE508G01029"/>
          <ticker value="TIME"/>
          <other otherDesc="SEDOL" value="B1XF611"/>
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        <balance>594169.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Supreme Petrochem Ltd.</name>
        <lei>335800LHH1GWIUIFOS83</lei>
        <title>Supreme Petrochem Ltd. INR2(POST SUB/DIV)</title>
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        <identifiers>
          <isin value="INE663A01033"/>
          <ticker value="SPPT"/>
          <other otherDesc="SEDOL" value="BMFWQD9"/>
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        <balance>33782.00000000</balance>
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        <pctVal>0.012594448356</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Dixon Technologies (India) Pvt Ltd</name>
        <lei>335800D7XO7AVXXJ8575</lei>
        <title>Dixon Technologies (India) Pvt Ltd INR2.00 (POST SUBD)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE935N01020"/>
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          <other otherDesc="SEDOL" value="BNC5412"/>
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        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Paradeep Phosphates Ltd.</name>
        <lei>335800FQJ3X6Y6V2YG94</lei>
        <title>Paradeep Phosphates Ltd. INR10</title>
        <cusip>000000000</cusip>
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          <isin value="INE088F01024"/>
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          <other otherDesc="SEDOL" value="BMGJRL4"/>
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        <balance>551594.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tanla Platforms Ltd</name>
        <lei>335800WPW7BCANYPB766</lei>
        <title>Tanla Platforms Ltd INR1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE483C01032"/>
          <ticker value="TANLA"/>
          <other otherDesc="SEDOL" value="B1LGZV9"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Vinati Organics Ltd.</name>
        <lei>254900Q2IRNXURG92U10</lei>
        <title>Vinati Organics Ltd. INR1 (POST S/D)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE410B01037"/>
          <ticker value="VO"/>
          <other otherDesc="SEDOL" value="BKKKN11"/>
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        <balance>39368.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Crompton Greaves Consumer Electricals Ltd.</name>
        <lei>335800DIIEEWMH3UDH51</lei>
        <title>Crompton Greaves Consumer Electricals Ltd. INR2</title>
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        <identifiers>
          <isin value="INE299U01018"/>
          <ticker value="CROMPTON"/>
          <other otherDesc="SEDOL" value="BD87BS8"/>
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        <balance>583318.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Birlasoft (India) Ltd</name>
        <lei>335800287UMX47DWBF82</lei>
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        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE836A01035"/>
          <ticker value="BSOFT"/>
          <other otherDesc="SEDOL" value="B1LQJY0"/>
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        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Kalpataru Projects International Ltd.</name>
        <lei>3358005ZIDG7MGP6TY07</lei>
        <title>Kalpataru Projects International Ltd. INR2 DEMATERIALISED</title>
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        <identifiers>
          <isin value="INE220B01022"/>
          <ticker value="KPIL"/>
          <other otherDesc="SEDOL" value="B02N266"/>
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        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Eternal Ltd.</name>
        <lei>335800T4VOF9ETHF8W59</lei>
        <title>Eternal Ltd. INR1.00</title>
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        <identifiers>
          <isin value="INE758T01015"/>
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          <other otherDesc="SEDOL" value="BL6P210"/>
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        <balance>162174.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Oberoi Realty Ltd.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Ultratech Cement Ltd.</name>
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        <title>Ultratech Cement Ltd. INR10</title>
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          <ticker value="UTCEM"/>
          <other otherDesc="SEDOL" value="B01GZF6"/>
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        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Usha Martin Ltd.</name>
        <lei>33580037BPBHOK655A23</lei>
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          <isin value="INE228A01035"/>
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          <other otherDesc="SEDOL" value="6142854"/>
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        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Oil &amp; Natural Gas Corp Ltd.</name>
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          <ticker value="ONGC"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <name>Global Heath Ltd.</name>
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          <ticker value="MEDANTA"/>
          <other otherDesc="SEDOL" value="BN960L0"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <name>Cera Sanitaryware Limited</name>
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          <other otherDesc="SEDOL" value="B02N2W2"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Trent Ltd.</name>
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        <title>Trent Ltd. INR1</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Bajaj Housing Finance Ltd.</name>
        <lei>335800SMB1SBAU9WHJ26</lei>
        <title>Bajaj Housing Finance Ltd. INR10</title>
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          <ticker value="BAJAJHF"/>
          <other otherDesc="SEDOL" value="BQ9BN51"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Sharda Cropchem Limited</name>
        <lei>335800D6YDEC9V93VC08</lei>
        <title>Sharda Cropchem Limited INR10</title>
        <cusip>000000000</cusip>
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          <ticker value="SHCR"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Anupam Rasayan India Ltd.</name>
        <lei>3358004GQZY8E2J1SV40</lei>
        <title>Anupam Rasayan India Ltd. INR10.00</title>
        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Welspun Living Ltd.</name>
        <lei>335800A8GZ4VWQVNYI40</lei>
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          <isin value="INE192B01031"/>
          <ticker value="WELSPUN"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Tilaknagar Industries</name>
        <lei>894500IYPP2CKQNUR875</lei>
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        <cusip>000000000</cusip>
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          <ticker value="TLNGR"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Mahindra Lifespace Developers Ltd</name>
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        <cusip>000000000</cusip>
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          <isin value="INE813A01018"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>JK Paper Limited</name>
        <lei>335800JW9BQEHI6ASI59</lei>
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        <cusip>000000000</cusip>
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          <isin value="INE789E01012"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Navin Fluorine International Ltd.</name>
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          <isin value="INE048G01026"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Prestige Estate Projects Ltd.</name>
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        <title>Prestige Estate Projects Ltd. INR10</title>
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          <isin value="INE811K01011"/>
          <ticker value="PEPL"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Adani Green Energy Ltd.</name>
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          <isin value="INE364U01010"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>JSW Energy Ltd</name>
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          <isin value="INE121E01018"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Maruti Suzuki India Ltd.</name>
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        <title>Maruti Suzuki India Ltd. INR5</title>
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          <ticker value="MSIL"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Central Bank of India</name>
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        <assetCat>EC</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Gujarat Gas Ltd.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Hindustan Petroleum Corp Ltd.</name>
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        <name>Mishra Dhatu Nigam Limited</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <name>Hatsun Agro Product Limited</name>
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        <invCountry>IN</invCountry>
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        <name>Iol Chemicals &amp; Pharmaceuticals Ltd.</name>
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        <name>Zydus Lifesciences Ltd.</name>
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        <name>APL Apollo Tubes Ltd.</name>
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        <invCountry>IN</invCountry>
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        <name>Waaree Renewable Technologies Ltd</name>
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        <name>Adani Ports And Special Economic Zone Ltd.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>VA Tech Wabag Ltd</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Hindustan Copper Limited</name>
        <lei>33580013OQMTB8N3IV37</lei>
        <title>Hindustan Copper Limited INR5(DEMAT)</title>
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          <ticker value="HCP"/>
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        <name>SOM Distil &amp; Brew</name>
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        <name>Gland Pharma Ltd.</name>
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        <name>IPCA Laboratories Ltd.</name>
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        <name>Embassy Developments Ltd.</name>
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        <name>Fiem Industries Ltd.</name>
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        <name>Tube Investments Of India Ltd.</name>
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        <name>Niit Learning Systems Ltd.</name>
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        <name>Datamatics Global Services Ltd.</name>
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        <name>Sjvn Ltd</name>
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        <name>Castrol India Ltd.</name>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Gujarat State Petronet Limited</name>
        <lei>335800J69QRMS7KSSR96</lei>
        <title>Gujarat State Petronet Limited INR10(DEMAT)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE246F01010"/>
          <ticker value="GUJS"/>
          <other otherDesc="SEDOL" value="B0YVBS3"/>
        </identifiers>
        <balance>341714.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
        <valUSD>827365.89000000</valUSD>
        <pctVal>0.039621538434</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>InterGlobe Aviation Ltd.</name>
        <lei>33580079R8SLLO23XD19</lei>
        <title>InterGlobe Aviation Ltd. INR10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE646L01027"/>
          <ticker value="INDIGO"/>
          <other otherDesc="SEDOL" value="BYYZ7D0"/>
        </identifiers>
        <balance>106715.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
        <valUSD>4436859.76000000</valUSD>
        <pctVal>0.212475775997</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DLF Ltd.</name>
        <lei>335800PJLUEOB8914F48</lei>
        <title>DLF Ltd. INR2</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE271C01023"/>
          <ticker value="DLFU"/>
          <other otherDesc="SEDOL" value="B1YLCV0"/>
        </identifiers>
        <balance>378963.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
        <valUSD>2014104.02000000</valUSD>
        <pctVal>0.096452972989</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lupin Ltd.</name>
        <lei>335800HHXTESDEE2FC65</lei>
        <title>Lupin Ltd. INR2</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE326A01037"/>
          <ticker value="LPC"/>
          <other otherDesc="SEDOL" value="6143761"/>
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        <balance>135453.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
        <valUSD>3304468.39000000</valUSD>
        <pctVal>0.158246941170</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Patanjali Foods Ltd.</name>
        <lei>335800EXLHZBCGE81H10</lei>
        <title>Patanjali Foods Ltd. INR2</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE619A01035"/>
          <ticker value="PATANJA"/>
          <other otherDesc="SEDOL" value="BKVLFJ5"/>
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        <balance>200567.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
        <valUSD>972186.54000000</valUSD>
        <pctVal>0.046556821868</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Jubilant Pharmova Limited</name>
        <lei>335800C6LDKWF4HQH833</lei>
        <title>Jubilant Pharmova Limited INR1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE700A01033"/>
          <ticker value="JUBLPHA"/>
          <other otherDesc="SEDOL" value="B10SSN9"/>
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        <balance>25746.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
        <valUSD>221619.39000000</valUSD>
        <pctVal>0.010613080965</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Godrej Consumer Products Ltd.</name>
        <lei>335800P4GUWLGZFK2D63</lei>
        <title>Godrej Consumer Products Ltd. INR1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE102D01028"/>
          <ticker value="GCPL"/>
          <other otherDesc="SEDOL" value="B1BDGY0"/>
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        <balance>217697.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
        <valUSD>2260314.50000000</valUSD>
        <pctVal>0.108243691115</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>THE Ramco Cements Limited</name>
        <lei>3358003MPDJN515PDG51</lei>
        <title>THE Ramco Cements Limited INR1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE331A01037"/>
          <ticker value="TRCL"/>
          <other otherDesc="SEDOL" value="6698153"/>
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        <balance>62345.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
        <valUSD>604790.62000000</valUSD>
        <pctVal>0.028962681547</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Fortis Healthcare Ltd.</name>
        <lei>3358001Q5ZJC4M83WH02</lei>
        <title>Fortis Healthcare Ltd. INR10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE061F01013"/>
          <ticker value="FORH"/>
          <other otherDesc="SEDOL" value="B1XC098"/>
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        <balance>426303.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
        <valUSD>3573171.87000000</valUSD>
        <pctVal>0.171114821499</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Gujarat Ambuja Exports Limited</name>
        <lei>335800M9TVMR5FIXZ129</lei>
        <title>Gujarat Ambuja Exports Limited INR1(POST SUB/DIV)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE036B01030"/>
          <ticker value="GAEX"/>
          <other otherDesc="SEDOL" value="BNGFSG1"/>
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        <balance>195864.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
        <valUSD>280614.76000000</valUSD>
        <pctVal>0.013438296929</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Campus Activewear Ltd</name>
        <lei>3358004PT3NRFB1FYG32</lei>
        <title>Campus Activewear Ltd INR5</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE278Y01022"/>
          <ticker value="CAMPUS"/>
          <other otherDesc="SEDOL" value="BN71Y82"/>
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        <balance>281902.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
        <valUSD>650448.77000000</valUSD>
        <pctVal>0.031149194391</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Siemens India Ltd</name>
        <lei>335800HJQJFZ3CJLJ709</lei>
        <title>Siemens India Ltd INR2 (POST SUBDIVISION)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE003A01024"/>
          <ticker value="SIEM"/>
          <other otherDesc="SEDOL" value="B15T569"/>
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        <balance>45099.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
        <valUSD>1395543.59000000</valUSD>
        <pctVal>0.066830872117</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Crisil Ltd</name>
        <lei>335800XLQ1LWF1M6KM87</lei>
        <title>Crisil Ltd INR1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE007A01025"/>
          <ticker value="CRISIL"/>
          <other otherDesc="SEDOL" value="B45Z353"/>
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        <balance>14611.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
        <valUSD>579395.02000000</valUSD>
        <pctVal>0.027746517389</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HEG Limited</name>
        <lei>335800E4LMUNWK4CCM21</lei>
        <title>HEG Limited INR2(POST SUBD)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE545A01024"/>
          <ticker value="HEG"/>
          <other otherDesc="SEDOL" value="BMCCWJ0"/>
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        <balance>207333.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
        <valUSD>1185649.99000000</valUSD>
        <pctVal>0.056779324863</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>KPR Mill Ltd</name>
        <lei>335800FO9PJG5CJ1BL81</lei>
        <title>KPR Mill Ltd INR1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE930H01031"/>
          <ticker value="KPR"/>
          <other otherDesc="SEDOL" value="BMDP7V5"/>
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        <balance>104034.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
        <valUSD>909774.79000000</valUSD>
        <pctVal>0.043567999653</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sonata Software Ltd.</name>
        <lei>335800G5IMSVQ5JFBB25</lei>
        <title>Sonata Software Ltd. INR1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE269A01021"/>
          <ticker value="SSOF"/>
          <other otherDesc="SEDOL" value="6289922"/>
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        <balance>141234.00000000</balance>
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        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Nestle India Ltd.</name>
        <lei>3358008SYYY9CPWH5D94</lei>
        <title>Nestle India Ltd. INR1(POST SUB)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE239A01024"/>
          <ticker value="NEST"/>
          <other otherDesc="SEDOL" value="BQB8GH3"/>
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        <balance>345812.00000000</balance>
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        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Genus Power Infrastructures Ltd.</name>
        <lei>335800XEI1BL7GACEX81</lei>
        <title>Genus Power Infrastructures Ltd. INR1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE955D01029"/>
          <ticker value="GPIN"/>
          <other otherDesc="SEDOL" value="6404996"/>
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        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Axis Bank Ltd.</name>
        <lei>549300HVNWMJPOFVNI41</lei>
        <title>Axis Bank Ltd. INR2</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE238A01034"/>
          <ticker value="AXSB"/>
          <other otherDesc="SEDOL" value="BPFJHC7"/>
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        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Varun Beverages Ltd.</name>
        <lei>33580058NWEMWBDNMD48</lei>
        <title>Varun Beverages Ltd. INR2(POST SUBD)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE200M01039"/>
          <ticker value="VBL"/>
          <other otherDesc="SEDOL" value="BQB80M6"/>
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        <balance>576276.00000000</balance>
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        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
        <valUSD>2333690.34000000</valUSD>
        <pctVal>0.111757570162</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Petronet LNG Ltd.</name>
        <lei>335800KIIKNA7GRD9351</lei>
        <title>Petronet LNG Ltd. INR10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE347G01014"/>
          <ticker value="PLNG"/>
          <other otherDesc="SEDOL" value="B00KT68"/>
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        <balance>2710405.00000000</balance>
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        <currencyConditional curCd="INR" exchangeRt="94.84875000"/>
        <valUSD>7099725.85000000</valUSD>
        <pctVal>0.339997169382</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Atul Ltd.</name>
        <lei>335800RE4LWLLDL2OQ62</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Aarti Drugs Limited</name>
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          <isin value="INE767A01016"/>
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      <invstOrSec>
        <name>EIH Ltd</name>
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      <invstOrSec>
        <name>Knr Constructions Limited</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Mstc Limited</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>360 One Wam Ltd.</name>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Trident Ltd.</name>
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          <isin value="INE064C01022"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Dodla Dairy Limited</name>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Voltamp Transformers Limited</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Jaiprakash Power Ventures Ltd.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Anand Rathi Wealth Ltd.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Orient Cement Ltd.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Vaibhav Global Ltd</name>
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        <name>Indus Towers Ltd.</name>
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        <name>Bharat Petroleum Corp Ltd.</name>
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        <name>Asahi India Glass Ltd.</name>
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        <name>Csb Bank Ltd</name>
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        <name>Larsen &amp; Toubro Ltd.</name>
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        <name>Tata Elxsi Ltd.</name>
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        <name>Mindspace Business Parks REIT</name>
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        <invCountry>IN</invCountry>
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        <name>Jyothy Labs Limited</name>
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        <title>Jyothy Labs Limited INR1</title>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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      <invstOrSec>
        <name>Dr. Lal PathLabs Ltd.</name>
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        <title>Dr. Lal PathLabs Ltd. INR10</title>
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      <invstOrSec>
        <name>GE Vernova T&amp;D India Ltd.</name>
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        <name>Balrampur Chini Mi</name>
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        <name>HSBC BANK PLC</name>
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        <name>India Shelter Finance Corporation Limited</name>
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        <name>Bajaj Auto Ltd.</name>
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        <name>Glaxo Smithkline P</name>
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        <name>City Union Bank Limited</name>
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        <name>Gokaldas Exports Ltd.</name>
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        <name>Nava Ltd.</name>
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        <name>Zydus Wellness Ltd</name>
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        <name>Thyrocare Technologies Ltd</name>
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        <name>Dalmia Bharat Ltd.</name>
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        <name>ICICI Bank Ltd.</name>
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      <invstOrSec>
        <name>Aarti Pharmalabs Ltd.</name>
        <lei>335800TTAKRBNDK5P363</lei>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>Bajaj Consumer Care Ltd</name>
        <lei>3358005AGVT9BD4VZC81</lei>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Maharashtra Seamless Ltd.</name>
        <lei>3358005CN9WUZJFMHV66</lei>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Sula Vineyards Ltd.</name>
        <lei>335800YWVHGFST1K9N93</lei>
        <title>Sula Vineyards Ltd. INR2</title>
        <cusip>000000000</cusip>
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          <isin value="INE142Q01026"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Blackbuck Ltd.</name>
        <lei>3358003IBMJFDHOYF615</lei>
        <title>Blackbuck Ltd. INR1</title>
        <cusip>000000000</cusip>
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          <isin value="INE0UIZ01018"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>JSW Dulux Ltd.</name>
        <lei>335800Z6FCJYII12VJ88</lei>
        <title>JSW Dulux Ltd. INR10</title>
        <cusip>000000000</cusip>
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          <isin value="INE133A01011"/>
          <ticker value="AKZO"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Infosys Ltd.</name>
        <lei>335800TYLGG93MM7PR89</lei>
        <title>Infosys Ltd. INR5</title>
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          <isin value="INE009A01021"/>
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          <other otherDesc="SEDOL" value="6205122"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Coal India Ltd.</name>
        <lei>335800NLJQZNHM9LBB31</lei>
        <title>Coal India Ltd. INR10</title>
        <cusip>000000000</cusip>
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          <isin value="INE522F01014"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Emami Ltd</name>
        <lei>335800CCQHJCDEUS7G90</lei>
        <title>Emami Ltd INR1</title>
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          <isin value="INE548C01032"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Techno Electric &amp; Engineering Co Ltd.</name>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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      <invstOrSec>
        <name>J Kumar Infaprojects Ltd.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <name>Ashok Leyland Ltd.</name>
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        <name>Olectra Greentech Ltd</name>
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        <name>YES Bank Ltd.</name>
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        <name>Dr. Reddy's Laboratories Ltd.</name>
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        <name>Aarti Industries Limited</name>
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        <name>Ajanta Pharma Ltd.</name>
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        <name>JBM Auto Ltd</name>
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        <name>The Anup Engineering Limited</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Capacit'E Infraprojects Ltd</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>LG Balakrishna &amp; Bros Ltd.</name>
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        <name>Torrent Power Limited</name>
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        <name>Vardhman Textiles Ltd</name>
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        <name>Dhanuka Agritech Ltd.</name>
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        <name>Reliance Industries Ltd.</name>
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        <name>Aster Dm Healthcare Limited</name>
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        <name>Sandur Manganese And Iron Ores Limited (The)</name>
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        <name>Intellect Design Arena Ltd</name>
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        <name>Garden Reach Shipbuilders &amp; Engineers Limited</name>
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        <name>CESC Limited</name>
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        <name>Adani Enterprises Ltd.</name>
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        <name>Natco Pharma Limited</name>
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        <name>Sai Lifesciences Ltd.</name>
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        <name>Bharat Electronics Ltd.</name>
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        <name>Data Patterns India Limited</name>
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        <name>General Insurance Corp Of India</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Carysil Ltd.</name>
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          <ticker value="CARYSIL"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Action Construction Equipments Ltd.</name>
        <lei>335800E2SPJUKN6OTB20</lei>
        <title>Action Construction Equipments Ltd. INR2</title>
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          <isin value="INE731H01025"/>
          <ticker value="ACCE"/>
          <other otherDesc="SEDOL" value="B131PK1"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Sundram Fastners Limited</name>
        <lei>3358003EQ1YWXUE2HH94</lei>
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        <cusip>000000000</cusip>
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          <isin value="INE387A01021"/>
          <ticker value="SF"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Berger Paints India Ltd.</name>
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        <title>Berger Paints India Ltd. INR1</title>
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          <isin value="INE463A01038"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NTPC Ltd.</name>
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        <cusip>000000000</cusip>
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          <isin value="INE733E01010"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Affle 3I Ltd.</name>
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        <title>Affle 3I Ltd. INR2 (POST SUB DIVISON)</title>
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          <isin value="INE00WC01027"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Globus Spirits Lim</name>
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          <isin value="INE615I01010"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>UCO Bank</name>
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        <cusip>000000000</cusip>
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          <isin value="INE691A01018"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Transport Corporation Of India Ltd.</name>
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          <isin value="INE688A01022"/>
          <ticker value="TRPC"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Indigo Paints Ltd.</name>
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          <other otherDesc="SEDOL" value="BMH5R55"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Sanghvi Movers Limited</name>
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          <ticker value="SGM"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Ashapura Mine Chem</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Jindal Stainless Ltd.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>International Gemmological Institute India Pvt Ltd.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <name>V-Guard Industries Limited</name>
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        <name>Kalyan Jewellers India Ltd.</name>
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        <name>Transformers And R</name>
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        <name>Hindustan Zinc Ltd.</name>
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        <name>Tata Consultancy Services Ltd.</name>
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        <name>VRL Logistics Ltd</name>
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        <invCountry>IN</invCountry>
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        <name>AU Small Finance Bank Ltd.</name>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

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        <name>Arvind Ltd</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Himadri Speciality Chemical Limited</name>
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      <invstOrSec>
        <name>Federal Bank Ltd.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Shipping Cp India</name>
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          <isin value="INE109A01011"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <name>GMM Pfaudler Ltd</name>
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        <assetCat>EC</assetCat>
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        <name>Amber Enterprises India Limited</name>
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        <fairValLevel>1</fairValLevel>
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        <name>State Bank of India</name>
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        <assetCat>EC</assetCat>
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        <name>HBL Engineering Ltd.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Marico Ltd.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Rail Vikas Nigam Limited</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Finolex Industries Ltd.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>CG Power and Industrial Solns Ltd</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Tata Technologies Ltd.</name>
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        <name>Tamilnad Mercantile Bank Ltd</name>
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        <name>Hindustan Aeronautics Limited</name>
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        <name>SKF INDIA LTD</name>
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        <name>Bharat Bijlee Ltd.</name>
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        <name>Titan Co Ltd.</name>
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        <name>DCM Shriram Ltd</name>
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        <name>Tata Communications LTD</name>
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        <name>Cello World Ltd.</name>
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        <name>Havells India Ltd.</name>
        <lei>549300U1LOGHTTNT7D47</lei>
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    <signature>
      <ncom:dateSigned>2026-06-01</ncom:dateSigned>
      <ncom:nameOfApplicant>WisdomTree Trust</ncom:nameOfApplicant>
      <ncom:signature>Clint Martin</ncom:signature>
      <ncom:signerName>Clint Martin</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
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</edgarSubmission>
