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        <name>RAITO KOGYO CO LTD</name>
        <lei>N/A</lei>
        <title>RAITO KOGYO CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3965800000"/>
          <ticker value="1926"/>
          <other otherDesc="SEDOL" value="6721004"/>
        </identifiers>
        <balance>29000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>726226.73000000</valUSD>
        <pctVal>0.070573733975</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LINDAB INTERNATIONAL AB</name>
        <lei>54930085MH6IRQ1JP227</lei>
        <title>LINDAB INTERNATIONAL AB NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0001852419"/>
          <ticker value="LIAB"/>
          <other otherDesc="SEDOL" value="B1HP071"/>
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        <balance>53056.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.67815000"/>
        <valUSD>714309.74000000</valUSD>
        <pctVal>0.069415656962</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AUDIOCODES LTD</name>
        <lei>529900TA48138NEVR854</lei>
        <title>AUDIOCODES LTD ILS0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0010829658"/>
          <ticker value="AUDC"/>
          <other otherDesc="SEDOL" value="6415352"/>
        </identifiers>
        <balance>49548.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="2.97945000"/>
        <valUSD>476779.66000000</valUSD>
        <pctVal>0.046332804205</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <loanByFundCondition isLoanByFund="Y" loanVal="182954.13918694"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FRANCHISE BRANDS PLC</name>
        <lei>213800CFRX6CJ8LCKN37</lei>
        <title>FRANCHISE BRANDS PLC ORD GBP0.005</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BD6P7Y24"/>
          <ticker value="FRAN"/>
          <other otherDesc="SEDOL" value="BD6P7Y2"/>
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        <balance>233723.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>438945.27000000</valUSD>
        <pctVal>0.042656109222</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>G CITY LTD</name>
        <lei>213800EO12XXGZSQ2A73</lei>
        <title>G CITY LTD ILS1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0001260111"/>
          <ticker value="GCT"/>
          <other otherDesc="SEDOL" value="6585396"/>
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        <balance>204191.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="2.97945000"/>
        <valUSD>763458.94000000</valUSD>
        <pctVal>0.074191909918</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>REVO INSURANCE SPA</name>
        <lei>815600BF2EA41687F764</lei>
        <title>REVO INSURANCE SPA NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IT0005513202"/>
          <ticker value="REVO"/>
          <other otherDesc="SEDOL" value="BP5J9L0"/>
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        <balance>17669.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>531285.49000000</valUSD>
        <pctVal>0.051629607239</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="390443.26887798"/>
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      </invstOrSec>
      <invstOrSec>
        <name>ALTRI SGPS SA</name>
        <lei>213800AKSTYRLHY3X497</lei>
        <title>ALTRI SGPS SA EUR0.125</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="PTALT0AE0002"/>
          <ticker value="ALTR"/>
          <other otherDesc="SEDOL" value="B13ZSL5"/>
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        <balance>269506.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>1463599.61000000</valUSD>
        <pctVal>0.142230635772</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="984706.36052163"/>
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      </invstOrSec>
      <invstOrSec>
        <name>LOUIS HACHETTE GROUP SA</name>
        <lei>969500CV8XQ2XKU2DO25</lei>
        <title>LOUIS HACHETTE GROUP SA EUR0.2</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR001400TL40"/>
          <ticker value="ALHG"/>
          <other otherDesc="SEDOL" value="BM8X1W3"/>
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        <balance>264387.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>528072.12000000</valUSD>
        <pctVal>0.051317336277</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>OMA SAASTOPANKKI OYJ</name>
        <lei>743700LE1ECAPXC5UT18</lei>
        <title>OMA SAASTOPANKKI OYJ NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FI4000306733"/>
          <ticker value="OMASP"/>
          <other otherDesc="SEDOL" value="BH31X10"/>
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        <balance>44260.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>582940.36000000</valUSD>
        <pctVal>0.056649357825</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AUSTEVOLL SEAFOOD AS</name>
        <lei>5967007LIEEXZXFFDC03</lei>
        <title>AUSTEVOLL SEAFOOD AS NOK0.50</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NO0010073489"/>
          <ticker value="AUSS"/>
          <other otherDesc="SEDOL" value="B16MKT5"/>
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        <balance>263927.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="9.89550000"/>
        <valUSD>2067034.76000000</valUSD>
        <pctVal>0.200871649644</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>IWATANI CORP</name>
        <lei>353800TSKIDNENNV2L96</lei>
        <title>IWATANI CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3151600008"/>
          <ticker value="8088"/>
          <other otherDesc="SEDOL" value="6468204"/>
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        <balance>111600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>1303974.16000000</valUSD>
        <pctVal>0.126718449868</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MONEX GROUP INC</name>
        <lei>353800SGXKLYGPUJ4648</lei>
        <title>MONEX GROUP INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3869970008"/>
          <ticker value="8698"/>
          <other otherDesc="SEDOL" value="B01S2L7"/>
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        <balance>113100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>434237.19000000</valUSD>
        <pctVal>0.042198584358</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ELMERA GROUP ASA</name>
        <lei>2138006BSHJVCD9SR489</lei>
        <title>ELMERA GROUP ASA NOK0.30</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NO0010815673"/>
          <ticker value="ELMRA"/>
          <other otherDesc="SEDOL" value="BG0SKQ1"/>
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        <balance>276958.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="9.89550000"/>
        <valUSD>1301454.90000000</valUSD>
        <pctVal>0.126473631580</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>C&amp;C GROUP PLC</name>
        <lei>635400LNUHA2LDXXV850</lei>
        <title>C&amp;C GROUP PLC ORD EUR0.01 (CDI)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE00B010DT83"/>
          <ticker value="CCR"/>
          <other otherDesc="SEDOL" value="B010DT8"/>
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        <balance>405557.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
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        <pctVal>0.049170327524</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SPIRE HEALTHCARE GROUP PLC</name>
        <lei>213800IBJPW3SE2RA350</lei>
        <title>SPIRE HEALTHCARE GROUP PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BNLPYF73"/>
          <ticker value="SPI"/>
          <other otherDesc="SEDOL" value="BNLPYF7"/>
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        <balance>166389.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>474805.29000000</valUSD>
        <pctVal>0.046140937592</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LYCOPODIUM LTD</name>
        <lei>2549001A9OUIDKVOOI57</lei>
        <title>LYCOPODIUM LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000LYL7"/>
          <ticker value="LYL"/>
          <other otherDesc="SEDOL" value="B044438"/>
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        <balance>65566.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
        <valUSD>818088.50000000</valUSD>
        <pctVal>0.079500736867</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HILL &amp; SMITH PLC</name>
        <lei>2138003A3ISGQZBOWI83</lei>
        <title>HILL &amp; SMITH PLC ORD GBP0.25</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0004270301"/>
          <ticker value="HILS"/>
          <other otherDesc="SEDOL" value="0427030"/>
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        <balance>60354.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
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        <pctVal>0.213683876383</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SPAREBANK 1 SMN ASA</name>
        <lei>7V6Z97IO7R1SEAO84Q32</lei>
        <title>SPAREBANK 1 SMN ASA NOK20 GRUNNFONDSBEVIS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NO0006390301"/>
          <ticker value="MING"/>
          <other otherDesc="SEDOL" value="B0LGG75"/>
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        <balance>188768.00000000</balance>
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        <currencyConditional curCd="NOK" exchangeRt="9.89550000"/>
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        <pctVal>0.348513292801</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NTN CORP</name>
        <lei>3538008XP7ZG9BKBQX64</lei>
        <title>NTN CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3165600002"/>
          <ticker value="6472"/>
          <other otherDesc="SEDOL" value="6651189"/>
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        <balance>179200.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>438393.60000000</valUSD>
        <pctVal>0.042602498675</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN ADVANCED MATERIALS PLC</name>
        <lei>I4K14LL95N2PHDL7EG85</lei>
        <title>MORGAN ADVANCED MATERIALS PLC ORD GBP0.25</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0006027295"/>
          <ticker value="MGAM"/>
          <other otherDesc="SEDOL" value="0602729"/>
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        <balance>308221.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>871353.36000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AISAN INDUSTRY CO LTD</name>
        <lei>N/A</lei>
        <title>AISAN INDUSTRY CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3101600009"/>
          <ticker value="7283"/>
          <other otherDesc="SEDOL" value="6010649"/>
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        <balance>26300.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>306974.93000000</valUSD>
        <pctVal>0.029831409602</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CENTRAL GLASS CO LTD</name>
        <lei>N/A</lei>
        <title>CENTRAL GLASS CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3425000001"/>
          <ticker value="4044"/>
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        <balance>12500.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JTC PLC</name>
        <lei>213800DVUG4KLF2ASK33</lei>
        <title>JTC PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JE00BF4X3P53"/>
          <ticker value="JTC"/>
          <other otherDesc="SEDOL" value="BF4X3P5"/>
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        <balance>46736.00000000</balance>
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        <valUSD>821281.43000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MUNTERS GROUP AB</name>
        <lei>549300KYCB37YAVUV523</lei>
        <title>MUNTERS GROUP AB NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0009806607"/>
          <ticker value="MTRS"/>
          <other otherDesc="SEDOL" value="BZ04921"/>
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        <balance>75143.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ASCOPIAVE SPA</name>
        <lei>815600ABFF26D15A4920</lei>
        <title>ASCOPIAVE SPA EUR1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IT0004093263"/>
          <ticker value="ASC"/>
          <other otherDesc="SEDOL" value="B1JMNT3"/>
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        <balance>255481.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
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        <pctVal>0.083452055802</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>Y</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>MEITAV INVESTMENTS HOUSE LTD</name>
        <lei>213800ZFO2DPAZ4UAL65</lei>
        <title>MEITAV INVESTMENTS HOUSE LTD ILS1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0010818438"/>
          <ticker value="MTAV"/>
          <other otherDesc="SEDOL" value="6141248"/>
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        <balance>33429.00000000</balance>
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        <currencyConditional curCd="ILS" exchangeRt="2.97945000"/>
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        <pctVal>0.140979729825</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>RELO GROUP INC</name>
        <lei>353800T595XRZDA8IB59</lei>
        <title>RELO GROUP INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3755200007"/>
          <ticker value="8876"/>
          <other otherDesc="SEDOL" value="6173906"/>
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        <balance>52900.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <pctVal>0.063134522626</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>NITTO KOGYO CORP</name>
        <lei>N/A</lei>
        <title>NITTO KOGYO CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3682400001"/>
          <ticker value="6651"/>
          <other otherDesc="SEDOL" value="6643283"/>
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        <balance>41200.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NIHON KOHDEN CORP</name>
        <lei>N/A</lei>
        <title>NIHON KOHDEN CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3706800004"/>
          <ticker value="6849"/>
          <other otherDesc="SEDOL" value="6639970"/>
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        <balance>34900.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BUFAB AB</name>
        <lei>5493002TF62S16D67T17</lei>
        <title>BUFAB AB NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0025010671"/>
          <ticker value="BUFAB"/>
          <other otherDesc="SEDOL" value="BTHZ679"/>
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        <balance>69594.00000000</balance>
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        <currencyConditional curCd="SEK" exchangeRt="9.67815000"/>
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        <pctVal>0.088607313272</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</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>FERRETTI SPA</name>
        <lei>815600F40754716D2D91</lei>
        <title>FERRETTI SPA NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IT0005383291"/>
          <ticker value="YACHT"/>
          <other otherDesc="SEDOL" value="BK5MNS9"/>
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        <balance>270675.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
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        <pctVal>0.089557909006</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HALFORDS GROUP PLC</name>
        <lei>54930086FKBWWJIOBI79</lei>
        <title>HALFORDS GROUP PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B012TP20"/>
          <ticker value="HFD"/>
          <other otherDesc="SEDOL" value="B012TP2"/>
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        <balance>401604.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
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        <pctVal>0.119396695440</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NSK LTD</name>
        <lei>353800FVQK6SULSPBC69</lei>
        <title>NSK LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3720800006"/>
          <ticker value="6471"/>
          <other otherDesc="SEDOL" value="6641544"/>
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        <balance>364300.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <pctVal>0.247450419817</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MACNICA HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>MACNICA HOLDINGS INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3862960006"/>
          <ticker value="3132"/>
          <other otherDesc="SEDOL" value="BVVQ8X2"/>
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        <balance>98200.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>AUSTRALIAN CLINICAL LABS LTD</name>
        <lei>N/A</lei>
        <title>AUSTRALIAN CLINICAL LABS LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU0000148496"/>
          <ticker value="ACL"/>
          <other otherDesc="SEDOL" value="BMWLLJ0"/>
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        <balance>385283.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NISSUI CORP</name>
        <lei>529900MPH5BMANQ3EC50</lei>
        <title>NISSUI CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3718800000"/>
          <ticker value="1332"/>
          <other otherDesc="SEDOL" value="6640927"/>
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        <balance>142000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>LECTRA SA</name>
        <lei>9695000KWQEBUDT6IO19</lei>
        <title>LECTRA SA EUR1.00</title>
        <cusip>000000000</cusip>
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          <isin value="FR0000065484"/>
          <ticker value="LSS"/>
          <other otherDesc="SEDOL" value="4508663"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ITOHAM YONEKYU HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>ITOHAM YONEKYU HOLDINGS INC NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3144500000"/>
          <ticker value="2296"/>
          <other otherDesc="SEDOL" value="BYPKSR5"/>
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        <balance>20000.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>GRAINGER PLC</name>
        <lei>2138007CEIRKZMNI2979</lei>
        <title>GRAINGER PLC ORD GBP0.05</title>
        <cusip>000000000</cusip>
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          <isin value="GB00B04V1276"/>
          <ticker value="GRI"/>
          <other otherDesc="SEDOL" value="B04V127"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>FILA FABBRICA ITALIANA LAPIS ED AFFINI SPA</name>
        <lei>81560094A389646CAF21</lei>
        <title>FILA FABBRICA ITALIANA LAPIS ED AFFINI SPA NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IT0004967292"/>
          <ticker value="FILA"/>
          <other otherDesc="SEDOL" value="BH89L26"/>
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        <balance>58544.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>METCASH LTD</name>
        <lei>25490065W4SN3LZMX216</lei>
        <title>METCASH LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000MTS0"/>
          <ticker value="MTS"/>
          <other otherDesc="SEDOL" value="B0744W4"/>
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        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MAN GROUP PLC</name>
        <lei>2549003YWC1DW6LALB09</lei>
        <title>MAN GROUP PLC ORD USD0.0342857142</title>
        <cusip>000000000</cusip>
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          <isin value="JE00BJ1DLW90"/>
          <ticker value="EMG"/>
          <other otherDesc="SEDOL" value="BJ1DLW9"/>
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        <balance>1438962.00000000</balance>
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        <pctVal>0.542316580377</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>KATO SANGYO CO LTD</name>
        <lei>N/A</lei>
        <title>KATO SANGYO CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3213300001"/>
          <ticker value="9869"/>
          <other otherDesc="SEDOL" value="6484181"/>
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        <balance>12700.00000000</balance>
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        <valUSD>465725.27000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GUNZE LTD</name>
        <lei>353800VSSDM5IY8UNW44</lei>
        <title>GUNZE LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3275200008"/>
          <ticker value="3002"/>
          <other otherDesc="SEDOL" value="6398709"/>
        </identifiers>
        <balance>13900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>330555.30000000</valUSD>
        <pctVal>0.032122918150</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LOOMIS AB</name>
        <lei>213800NS2XXVRYS7WP40</lei>
        <title>LOOMIS AB NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0014504817"/>
          <ticker value="LOOMIS"/>
          <other otherDesc="SEDOL" value="BMVB566"/>
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        <balance>49217.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.67815000"/>
        <valUSD>2416569.12000000</valUSD>
        <pctVal>0.234838927243</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TAKARA STANDARD CO LTD</name>
        <lei>N/A</lei>
        <title>TAKARA STANDARD CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3460000007"/>
          <ticker value="7981"/>
          <other otherDesc="SEDOL" value="6870906"/>
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        <balance>58400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>1113920.94000000</valUSD>
        <pctVal>0.108249334322</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TAKASAGO INTERNATIONAL CORP</name>
        <lei>N/A</lei>
        <title>TAKASAGO INTERNATIONAL CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3454400007"/>
          <ticker value="4914"/>
          <other otherDesc="SEDOL" value="6870360"/>
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        <balance>68900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>474383.02000000</valUSD>
        <pctVal>0.046099901963</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ENERGEAN PLC</name>
        <lei>549300RVMKU0CYUZBB05</lei>
        <title>ENERGEAN PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BG12Y042"/>
          <ticker value="ENOG"/>
          <other otherDesc="SEDOL" value="BG12Y04"/>
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        <balance>337324.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>3060118.47000000</valUSD>
        <pctVal>0.297378184958</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="16955.09783155"/>
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      </invstOrSec>
      <invstOrSec>
        <name>PROPNEX LTD</name>
        <lei>N/A</lei>
        <title>PROPNEX LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SGXE65086469"/>
          <ticker value="PROP"/>
          <other otherDesc="SEDOL" value="BD3W0Z8"/>
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        <balance>752400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.29345000"/>
        <valUSD>1081962.19000000</valUSD>
        <pctVal>0.105143626108</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="430685.37631970"/>
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      </invstOrSec>
      <invstOrSec>
        <name>DELTA ISRAEL BRANDS LTD</name>
        <lei>N/A</lei>
        <title>DELTA ISRAEL BRANDS LTD ILS0.1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0011736993"/>
          <ticker value="DLTI"/>
          <other otherDesc="SEDOL" value="BN6J313"/>
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        <balance>22753.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="2.97945000"/>
        <valUSD>950762.22000000</valUSD>
        <pctVal>0.092393790006</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="173036.80209451"/>
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      </invstOrSec>
      <invstOrSec>
        <name>VICAT SA</name>
        <lei>9695009YI1863TOVDP79</lei>
        <title>VICAT SA EUR4</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0000031775"/>
          <ticker value="VCT"/>
          <other otherDesc="SEDOL" value="5763201"/>
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        <balance>43629.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>3167446.02000000</valUSD>
        <pctVal>0.307808131487</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MITIE GROUP PLC</name>
        <lei>213800MTCLTKEHWZMJ03</lei>
        <title>MITIE GROUP PLC ORD GBP0.025</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0004657408"/>
          <ticker value="MTO"/>
          <other otherDesc="SEDOL" value="0465740"/>
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        <balance>883210.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>1751326.24000000</valUSD>
        <pctVal>0.170191521546</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SUPREME PLC</name>
        <lei>213800DBHCI5WQWECL16</lei>
        <title>SUPREME PLC ORD GBP0.10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BDT89C08"/>
          <ticker value="SUP"/>
          <other otherDesc="SEDOL" value="BDT89C0"/>
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        <balance>217527.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>450391.57000000</valUSD>
        <pctVal>0.043768445215</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RETAIL ESTATES SA</name>
        <lei>5493007CO5W5OBFG7L21</lei>
        <title>RETAIL ESTATES SA NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BE0003720340"/>
          <ticker value="RET"/>
          <other otherDesc="SEDOL" value="5438361"/>
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        <balance>25200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>1979326.85000000</valUSD>
        <pctVal>0.192348313264</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DAIICHIKOSHO COMPANY LTD</name>
        <lei>N/A</lei>
        <title>DAIICHIKOSHO COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3475200006"/>
          <ticker value="7458"/>
          <other otherDesc="SEDOL" value="6253132"/>
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        <balance>40000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>421350.56000000</valUSD>
        <pctVal>0.040946279038</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>OKUMA CORP</name>
        <lei>N/A</lei>
        <title>OKUMA CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3172100004"/>
          <ticker value="6103"/>
          <other otherDesc="SEDOL" value="6657789"/>
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        <balance>26000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>739886.17000000</valUSD>
        <pctVal>0.071901139928</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MAX CO LTD</name>
        <lei>N/A</lei>
        <title>MAX CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3864800002"/>
          <ticker value="6454"/>
          <other otherDesc="SEDOL" value="6574220"/>
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        <balance>96200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>1006245.19000000</valUSD>
        <pctVal>0.097785550186</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANYAN TREE HOLDINGS LTD</name>
        <lei>254900PU1R3XDPBY5390</lei>
        <title>BANYAN TREE HOLDINGS LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG1T49930665"/>
          <ticker value="BTH"/>
          <other otherDesc="SEDOL" value="B168CV9"/>
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        <balance>1107200.00000000</balance>
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        <currencyConditional curCd="SGD" exchangeRt="1.29345000"/>
        <valUSD>466522.87000000</valUSD>
        <pctVal>0.045336063189</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</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>KEIHAN HOLDINGS CO LTD</name>
        <lei>353800ADZSZ9AD39RL13</lei>
        <title>KEIHAN HOLDINGS CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3279400000"/>
          <ticker value="9045"/>
          <other otherDesc="SEDOL" value="6487232"/>
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        <balance>18000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</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>RELIANCE WORLDWIDE CORP LTD</name>
        <lei>52990084PQSDDJ8F5447</lei>
        <title>RELIANCE WORLDWIDE CORP LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000RWC7"/>
          <ticker value="RWC"/>
          <other otherDesc="SEDOL" value="BD1DM79"/>
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        <balance>408567.00000000</balance>
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        <pctVal>0.107552074585</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ONWARD HOLDINGS COMPANY LTD</name>
        <lei>N/A</lei>
        <title>ONWARD HOLDINGS COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3203500008"/>
          <ticker value="8016"/>
          <other otherDesc="SEDOL" value="6483821"/>
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        <balance>213600.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>YUASA CO LTD</name>
        <lei>N/A</lei>
        <title>YUASA CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3945200008"/>
          <ticker value="8074"/>
          <other otherDesc="SEDOL" value="6988520"/>
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        <balance>14600.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</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>AWA BANK LTD (THE)</name>
        <lei>353800YH8XWV0XAHXR13</lei>
        <title>AWA BANK LTD (THE) NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3126800006"/>
          <ticker value="8388"/>
          <other otherDesc="SEDOL" value="6068961"/>
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        <balance>5100.00000000</balance>
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        <valUSD>227189.66000000</valUSD>
        <pctVal>0.022077984690</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</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>NICK SCALI LTD</name>
        <lei>9845001BZF7580DX6460</lei>
        <title>NICK SCALI LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000NCK1"/>
          <ticker value="NCK"/>
          <other otherDesc="SEDOL" value="B00VZV8"/>
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        <balance>67008.00000000</balance>
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        <valUSD>757625.69000000</valUSD>
        <pctVal>0.073625042552</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INDUSTRIE DE NORA SPA</name>
        <lei>815600CD933CB2F89862</lei>
        <title>INDUSTRIE DE NORA SPA NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IT0005186371"/>
          <ticker value="DNR"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>IT</invCountry>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>YOUNG &amp; CO'S BREWERY PLC</name>
        <lei>213800JMZDORXCMKFW06</lei>
        <title>YOUNG &amp; CO'S BREWERY PLC 'A'ORD GBP0.125</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B2NDK765"/>
          <ticker value="YNGA"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>EIKEN CHEMICAL CO LTD</name>
        <lei>N/A</lei>
        <title>EIKEN CHEMICAL CO LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3160700005"/>
          <ticker value="4549"/>
          <other otherDesc="SEDOL" value="6307114"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>DOF GROUP ASA</name>
        <lei>213800GIV9N2A714T434</lei>
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        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NO0012851874"/>
          <ticker value="DOFG"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>NO</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ARTIENCE CO LTD</name>
        <lei>N/A</lei>
        <title>ARTIENCE CO LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3606600009"/>
          <ticker value="4634"/>
          <other otherDesc="SEDOL" value="6900104"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>NIKKON HOLDINGS CO LTD</name>
        <lei>3538005QJ1M73DPIMH49</lei>
        <title>NIKKON HOLDINGS CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3709600005"/>
          <ticker value="9072"/>
          <other otherDesc="SEDOL" value="6642202"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DECEUNINCK</name>
        <lei>549300R6YGQQ24P6WW72</lei>
        <title>DECEUNINCK NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BE0003789063"/>
          <ticker value="DECB"/>
          <other otherDesc="SEDOL" value="4646541"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TAIHEIYO CEMENT CORP</name>
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        <cusip>000000000</cusip>
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          <isin value="JP3449020001"/>
          <ticker value="5233"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AMBEA AB</name>
        <lei>549300AEVNZRHYI5HV24</lei>
        <title>AMBEA AB NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SE0009663826"/>
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          <other otherDesc="SEDOL" value="BYXPJQ8"/>
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        <assetCat>EC</assetCat>
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        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DAICEL CORP</name>
        <lei>353800ZG4XF6D7NZGS72</lei>
        <title>DAICEL CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3485800001"/>
          <ticker value="4202"/>
          <other otherDesc="SEDOL" value="6250542"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>OPEN UP GROUP INC</name>
        <lei>N/A</lei>
        <title>OPEN UP GROUP INC NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3635580008"/>
          <ticker value="2154"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HELIA GROUP LTD</name>
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        <title>HELIA GROUP LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="AU0000251498"/>
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        <assetCat>EC</assetCat>
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        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HARVIA OYJ</name>
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        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>FI</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>RANK GROUP PLC (THE)</name>
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        <title>RANK GROUP PLC (THE) ORD GBP0.1388888</title>
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        <fairValLevel>1</fairValLevel>
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        <name>PALTAC CORP</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
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          <isin value="JP3782200004"/>
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        <fairValLevel>1</fairValLevel>
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        <name>BANDO CHEMICAL INDUSTRIES LTD</name>
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        <name>PAL GROUP HOLDINGS CO LTD</name>
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        <name>MACMAHON HOLDINGS LTD</name>
        <lei>52990031UMN8E6ARZC86</lei>
        <title>MACMAHON HOLDINGS LTD NPV</title>
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      <invstOrSec>
        <name>EXEDY CORP</name>
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        <cusip>000000000</cusip>
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        <name>ALFRESA HOLDINGS CORP</name>
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        <name>AUSTRALIAN ETHICAL INVESTMENT LTD</name>
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        <title>AUSTRALIAN ETHICAL INVESTMENT LTD NPV</title>
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        <invCountry>AU</invCountry>
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        <name>WETHERSPOON (JD) PLC</name>
        <lei>213800CHWARFAAN7UB85</lei>
        <title>WETHERSPOON (JD) PLC ORD GBP0.02</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NORWEGIAN AIR SHUTTLE ASA</name>
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          <isin value="NO0010196140"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>SOFTWAREONE HOLDING AG</name>
        <lei>529900GBI88JKWXLGI05</lei>
        <title>SOFTWAREONE HOLDING AG CHF0.01</title>
        <cusip>000000000</cusip>
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          <isin value="CH0496451508"/>
          <ticker value="SWON"/>
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        <balance>169817.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BANCO DI DESIO E DELLA BRIANZA SPA</name>
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          <isin value="IT0001041000"/>
          <ticker value="BDB"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GALLIFORD TRY HOLDINGS PLC</name>
        <lei>213800MR6DRHCJIV8113</lei>
        <title>GALLIFORD TRY HOLDINGS PLC ORD GBP0.5</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BKY40Q38"/>
          <ticker value="GFRD"/>
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        <balance>155619.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JAPAN AIRPORT TERMINAL CO LTD</name>
        <lei>353800W9WEQSGUY2EO26</lei>
        <title>JAPAN AIRPORT TERMINAL CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3699400002"/>
          <ticker value="9706"/>
          <other otherDesc="SEDOL" value="6472175"/>
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        <balance>28000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GAMMA COMMUNICATIONS PLC</name>
        <lei>213800LAQZXPRIZUEH50</lei>
        <title>GAMMA COMMUNICATIONS PLC ORD GBP0.0025</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BQS10J50"/>
          <ticker value="GAMA"/>
          <other otherDesc="SEDOL" value="BQS10J5"/>
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        <balance>57288.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>NOEVIR HOLDINGS COMPANY LTD</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
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          <isin value="JP3760450001"/>
          <ticker value="4928"/>
          <other otherDesc="SEDOL" value="B458891"/>
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        <balance>19800.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KUMAGAI GUMI CO LTD</name>
        <lei>529900M993KYZI2Q1Q47</lei>
        <title>KUMAGAI GUMI CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3266800006"/>
          <ticker value="1861"/>
          <other otherDesc="SEDOL" value="6497565"/>
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        <balance>81700.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MARUZEN SHOWA UNYU CO LTD</name>
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        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3876000005"/>
          <ticker value="9068"/>
          <other otherDesc="SEDOL" value="6569624"/>
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        <balance>7700.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SANKYU INC</name>
        <lei>529900QWTXZZEM1T5G75</lei>
        <title>SANKYU INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3326000001"/>
          <ticker value="9065"/>
          <other otherDesc="SEDOL" value="6775380"/>
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        <balance>38800.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SYSTEMAIR AB</name>
        <lei>529900RK1R6HF8KKOI20</lei>
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        <cusip>000000000</cusip>
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          <isin value="SE0016609499"/>
          <ticker value="SYSR"/>
          <other otherDesc="SEDOL" value="BL0P6R0"/>
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        <assetCat>EC</assetCat>
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        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>U-NEXT HOLDINGS CO LTD</name>
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        <title>U-NEXT HOLDINGS CO LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3944640006"/>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ACADEMEDIA AB</name>
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          <isin value="SE0007897079"/>
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        <assetCat>EC</assetCat>
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        <name>KONINKLIJKE HEIJMANS NV</name>
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        <invCountry>NL</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>NICHICON CORP</name>
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        <cusip>000000000</cusip>
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        <fairValLevel>1</fairValLevel>
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        <name>TOKUYAMA CORP</name>
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        <name>ELECTROLUX PROFESSIONAL AB</name>
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        <name>SPAREBANKEN NORGE AS</name>
        <lei>213800M7T3CYVZ3ZRT12</lei>
        <title>SPAREBANKEN NORGE AS NOK25 GRUNNFONDSBEVIS</title>
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        <name>BIOGAIA AB</name>
        <lei>549300UBUJOY2L7TT361</lei>
        <title>BIOGAIA AB SER'B'NPV</title>
        <cusip>000000000</cusip>
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      <invstOrSec>
        <name>NIPPON SODA CO LTD</name>
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        <cusip>000000000</cusip>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>UACJ CORP</name>
        <lei>353800GO7FBE4RSRH831</lei>
        <title>UACJ CORP NPV</title>
        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MARUBUN CORP</name>
        <lei>N/A</lei>
        <title>MARUBUN CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3877500003"/>
          <ticker value="7537"/>
          <other otherDesc="SEDOL" value="6526500"/>
        </identifiers>
        <balance>5300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>53970.16000000</valUSD>
        <pctVal>0.005244747345</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TOAGOSEI CO LTD</name>
        <lei>N/A</lei>
        <title>TOAGOSEI CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3556400004"/>
          <ticker value="4045"/>
          <other otherDesc="SEDOL" value="6894467"/>
        </identifiers>
        <balance>68700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>735716.66000000</valUSD>
        <pctVal>0.071495952571</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KOATSU GAS KOGYO CO LTD</name>
        <lei>N/A</lei>
        <title>KOATSU GAS KOGYO CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3285800003"/>
          <ticker value="4097"/>
          <other otherDesc="SEDOL" value="6495967"/>
        </identifiers>
        <balance>25600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>172320.57000000</valUSD>
        <pctVal>0.016745880540</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DAIHEN CORP</name>
        <lei>353800VGTLA3QRNG5478</lei>
        <title>DAIHEN CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3497800007"/>
          <ticker value="6622"/>
          <other otherDesc="SEDOL" value="6661843"/>
        </identifiers>
        <balance>4800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>533087.22000000</valUSD>
        <pctVal>0.051804696930</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PLUS500 LTD</name>
        <lei>549300X8NGW9C5OJZU13</lei>
        <title>PLUS500 LTD ORD ILS0.01 (DI)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0011284465"/>
          <ticker value="PLUS"/>
          <other otherDesc="SEDOL" value="BBT3PS9"/>
        </identifiers>
        <balance>103758.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>6590931.01000000</valUSD>
        <pctVal>0.640497784695</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NIFCO INC</name>
        <lei>353800JMDOH68J9I5140</lei>
        <title>NIFCO INC NPV</title>
        <cusip>654101104</cusip>
        <identifiers>
          <isin value="JP3756200006"/>
          <ticker value="7988"/>
          <other otherDesc="SEDOL" value="6639163"/>
        </identifiers>
        <balance>41600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>1237313.64000000</valUSD>
        <pctVal>0.120240470457</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ACOMO NV</name>
        <lei>7245001M40ANG7IIS437</lei>
        <title>ACOMO NV EUR0.45</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL0000313286"/>
          <ticker value="ACOMO"/>
          <other otherDesc="SEDOL" value="4031459"/>
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        <balance>46497.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>1198758.55000000</valUSD>
        <pctVal>0.116493738820</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GPI SPA</name>
        <lei>815600320CCB55749A30</lei>
        <title>GPI SPA NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IT0005221517"/>
          <ticker value="GPI"/>
          <other otherDesc="SEDOL" value="BD3H5P8"/>
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        <balance>34520.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>581739.44000000</valUSD>
        <pctVal>0.056532654040</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="581722.58737971"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PACIFIC BASIN SHIPPING LTD</name>
        <lei>254900LNPK737X4Y3V26</lei>
        <title>PACIFIC BASIN SHIPPING LTD USD0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG684371393"/>
          <ticker value="2343"/>
          <other otherDesc="SEDOL" value="B01RQM3"/>
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        <balance>3359000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84205000"/>
        <valUSD>1156496.07000000</valUSD>
        <pctVal>0.112386728023</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MIVNE REAL ESTATE (K.D.) LTD</name>
        <lei>N/A</lei>
        <title>MIVNE REAL ESTATE (K.D.) LTD ILS1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0002260193"/>
          <ticker value="MVNE"/>
          <other otherDesc="SEDOL" value="6416980"/>
        </identifiers>
        <balance>225291.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="2.97945000"/>
        <valUSD>982994.51000000</valUSD>
        <pctVal>0.095526080468</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MATSUI SECURITIES COMPANY LTD</name>
        <lei>3538007PRKOSDN175V58</lei>
        <title>MATSUI SECURITIES COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3863800003"/>
          <ticker value="8628"/>
          <other otherDesc="SEDOL" value="6373892"/>
        </identifiers>
        <balance>224140.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>1325325.58000000</valUSD>
        <pctVal>0.128793352062</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KOTOBUKI SPIRITS COMPANY LTD</name>
        <lei>N/A</lei>
        <title>KOTOBUKI SPIRITS COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3299600001"/>
          <ticker value="2222"/>
          <other otherDesc="SEDOL" value="6489465"/>
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        <balance>22600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>346109.21000000</valUSD>
        <pctVal>0.033634426142</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="346093.89940489"/>
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      </invstOrSec>
      <invstOrSec>
        <name>CORBION NV</name>
        <lei>724500BKS1TSAVLTWG46</lei>
        <title>CORBION NV EUR0.25</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL0010583399"/>
          <ticker value="CRBN"/>
          <other otherDesc="SEDOL" value="BFRSRR7"/>
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        <balance>53148.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>1223789.24000000</valUSD>
        <pctVal>0.118926187509</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TAKUMA CO LTD</name>
        <lei>N/A</lei>
        <title>TAKUMA CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3462600002"/>
          <ticker value="6013"/>
          <other otherDesc="SEDOL" value="6870768"/>
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        <balance>36800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>819664.67000000</valUSD>
        <pctVal>0.079653906941</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AVON TECHNOLOGIES PLC</name>
        <lei>213800JM1AN62REBWA71</lei>
        <title>AVON TECHNOLOGIES PLC ORD GBP1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0000667013"/>
          <ticker value="AVON"/>
          <other otherDesc="SEDOL" value="0066701"/>
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        <balance>20674.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>470862.69000000</valUSD>
        <pctVal>0.045757801042</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ROUND ONE CORP</name>
        <lei>N/A</lei>
        <title>ROUND ONE CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3966800009"/>
          <ticker value="4680"/>
          <other otherDesc="SEDOL" value="6248365"/>
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        <balance>48600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>347473.93000000</valUSD>
        <pctVal>0.033767047791</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AJ BELL PLC</name>
        <lei>213800VNKA7DPWXWJJ36</lei>
        <title>AJ BELL PLC ORD GBP0.000125</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BFZNLB60"/>
          <ticker value="AJB"/>
          <other otherDesc="SEDOL" value="BFZNLB6"/>
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        <balance>285999.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>2321204.78000000</valUSD>
        <pctVal>0.225571549324</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GREENCORE GROUP PLC</name>
        <lei>635400GGBEWULJXM5868</lei>
        <title>GREENCORE GROUP PLC ORD GBP0.01 (CDI)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE0003864109"/>
          <ticker value="GNC"/>
          <other otherDesc="SEDOL" value="0386410"/>
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        <balance>173194.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>457214.62000000</valUSD>
        <pctVal>0.044431500010</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SERVCORP LTD</name>
        <lei>N/A</lei>
        <title>SERVCORP LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000SRV5"/>
          <ticker value="SRV"/>
          <other otherDesc="SEDOL" value="6196895"/>
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        <balance>155509.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
        <valUSD>706752.33000000</valUSD>
        <pctVal>0.068681238053</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OSG CORP</name>
        <lei>353800IWJAOVAFO6X450</lei>
        <title>OSG CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3170800001"/>
          <ticker value="6136"/>
          <other otherDesc="SEDOL" value="6655620"/>
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        <balance>36500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>815677.59000000</valUSD>
        <pctVal>0.079266447885</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VALOR HOLDINGS CO LTD</name>
        <lei>N/A</lei>
        <title>VALOR HOLDINGS CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3778400006"/>
          <ticker value="9956"/>
          <other otherDesc="SEDOL" value="6926553"/>
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        <balance>34600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>829207.81000000</valUSD>
        <pctVal>0.080581296413</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HEBA FASTIGHETS AB</name>
        <lei>549300B1UZTBDU27UJ88</lei>
        <title>HEBA FASTIGHETS AB SER'B'NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0017911480"/>
          <ticker value="HEBAB"/>
          <other otherDesc="SEDOL" value="BLDBCW2"/>
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        <balance>152039.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.67815000"/>
        <valUSD>379384.68000000</valUSD>
        <pctVal>0.036868091430</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PRASHKOVSKY INVESTMENTS AND CONSTRUCTION LTD</name>
        <lei>N/A</lei>
        <title>PRASHKOVSKY INVESTMENTS AND CONSTRUCTION LTD ILS0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0011021289"/>
          <ticker value="PRSK"/>
          <other otherDesc="SEDOL" value="B3CR140"/>
        </identifiers>
        <balance>9232.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="2.97945000"/>
        <valUSD>469431.61000000</valUSD>
        <pctVal>0.045618730618</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="305547.50037788"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JAPAN SECURITIES FINANCE CO LTD</name>
        <lei>3538000FYEWEUFDCS891</lei>
        <title>JAPAN SECURITIES FINANCE CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3714400003"/>
          <ticker value="8511"/>
          <other otherDesc="SEDOL" value="6470760"/>
        </identifiers>
        <balance>36900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>530597.14000000</valUSD>
        <pctVal>0.051562714314</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IMMOBILIARE GRANDE DISTRIBUZIONE SOCIETA' DI INVESTIMENTO IMMOBILIARE QUOTATA PA</name>
        <lei>815600CF8C0389D0E272</lei>
        <title>IMMOBILIARE GRANDE DISTRIBUZIONE SOCIETA' DI INVESTIMENTO IMMOBILIARE QUOTATA PA NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IT0005322612"/>
          <ticker value="IGD"/>
          <other otherDesc="SEDOL" value="BF0VLX7"/>
        </identifiers>
        <balance>135893.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>654869.72000000</valUSD>
        <pctVal>0.063639356001</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MIURA CO LTD</name>
        <lei>3538005VS7UNWU9PHX56</lei>
        <title>MIURA CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3880800002"/>
          <ticker value="6005"/>
          <other otherDesc="SEDOL" value="6597777"/>
        </identifiers>
        <balance>39900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>771854.18000000</valUSD>
        <pctVal>0.075007748017</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FORTERRA PLC</name>
        <lei>213800O5DD6ATBVJAD23</lei>
        <title>FORTERRA PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BYYW3C20"/>
          <ticker value="FORT"/>
          <other otherDesc="SEDOL" value="BYYW3C2"/>
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        <balance>213428.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>382983.95000000</valUSD>
        <pctVal>0.037217863633</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VERTU MOTORS PLC</name>
        <lei>213800GIKJEIUIGMI575</lei>
        <title>VERTU MOTORS PLC ORD GBP0.10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B1GK4645"/>
          <ticker value="VTU"/>
          <other otherDesc="SEDOL" value="B1GK464"/>
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        <balance>540611.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>530968.89000000</valUSD>
        <pctVal>0.051598840478</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PREMIER FOODS PLC</name>
        <lei>213800ZD5I8XHNMCJA67</lei>
        <title>PREMIER FOODS PLC ORD GBP0.10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B7N0K053"/>
          <ticker value="PFD"/>
          <other otherDesc="SEDOL" value="B7N0K05"/>
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        <balance>277091.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>750983.92000000</valUSD>
        <pctVal>0.072979604303</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CENTURION CORP LTD</name>
        <lei>N/A</lei>
        <title>CENTURION CORP LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG2D51973063"/>
          <ticker value="CENT"/>
          <other otherDesc="SEDOL" value="B631Q03"/>
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        <balance>942700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.29345000"/>
        <valUSD>1064085.97000000</valUSD>
        <pctVal>0.103406439162</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SVEDBERGS GROUP AB</name>
        <lei>549300233PQ1UWNYVK79</lei>
        <title>SVEDBERGS GROUP AB SER'B'NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0000407991"/>
          <ticker value="SVEDB"/>
          <other otherDesc="SEDOL" value="B12Z0T8"/>
        </identifiers>
        <balance>120640.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.67815000"/>
        <valUSD>804004.90000000</valUSD>
        <pctVal>0.078132111617</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="106745.24573431"/>
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      </invstOrSec>
      <invstOrSec>
        <name>IMDEX LTD</name>
        <lei>529900H31NX5KRKXB865</lei>
        <title>IMDEX LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000IMD5"/>
          <ticker value="IMD"/>
          <other otherDesc="SEDOL" value="6462154"/>
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        <balance>217672.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
        <valUSD>618292.97000000</valUSD>
        <pctVal>0.060084876776</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PLATZER FASTIGHETER HOLDING AB</name>
        <lei>5493009KPII4BZE70820</lei>
        <title>PLATZER FASTIGHETER HOLDING AB NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0004977692"/>
          <ticker value="PLAZB"/>
          <other otherDesc="SEDOL" value="BH0WHG9"/>
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        <balance>80896.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.67815000"/>
        <valUSD>572565.62000000</valUSD>
        <pctVal>0.055641154587</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>YAHAGI CONSTRUCTION CO LTD</name>
        <lei>N/A</lei>
        <title>YAHAGI CONSTRUCTION CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3933200002"/>
          <ticker value="1870"/>
          <other otherDesc="SEDOL" value="6985037"/>
        </identifiers>
        <balance>22200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>248465.16000000</valUSD>
        <pctVal>0.024145509080</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TANSEISHA CO LTD</name>
        <lei>N/A</lei>
        <title>TANSEISHA CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3472200009"/>
          <ticker value="9743"/>
          <other otherDesc="SEDOL" value="6871932"/>
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        <balance>33800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>283460.39000000</valUSD>
        <pctVal>0.027546298325</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TAYCA CORP</name>
        <lei>N/A</lei>
        <title>TAYCA CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3539300008"/>
          <ticker value="4027"/>
          <other otherDesc="SEDOL" value="6880864"/>
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        <balance>21700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>315102.29000000</valUSD>
        <pctVal>0.030621215484</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <loanByFundCondition isLoanByFund="Y" loanVal="181496.01600005"/>
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      <invstOrSec>
        <name>TKC CORP</name>
        <lei>N/A</lei>
        <title>TKC CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3539400006"/>
          <ticker value="9746"/>
          <other otherDesc="SEDOL" value="6892665"/>
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        <balance>23300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>489583.14000000</valUSD>
        <pctVal>0.047577029120</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VOLEX PLC</name>
        <lei>213800HBLQNH5FXXGE63</lei>
        <title>VOLEX PLC ORD GBP0.25</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0009390070"/>
          <ticker value="VLX"/>
          <other otherDesc="SEDOL" value="0939007"/>
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        <balance>98324.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
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        <pctVal>0.071398860409</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>APERAM SA</name>
        <lei>5493001136GE6L4R7M63</lei>
        <title>APERAM SA NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="LU0569974404"/>
          <ticker value="APAM"/>
          <other otherDesc="SEDOL" value="B58C6H1"/>
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        <balance>88793.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
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        <pctVal>0.419866720247</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</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>H.U. GROUP HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>H.U. GROUP HOLDINGS INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3822000000"/>
          <ticker value="4544"/>
          <other otherDesc="SEDOL" value="6356611"/>
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        <balance>23600.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</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>MATRIX IT LTD</name>
        <lei>N/A</lei>
        <title>MATRIX IT LTD ILS1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0004450156"/>
          <ticker value="MTRX"/>
          <other otherDesc="SEDOL" value="6747754"/>
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        <balance>68540.00000000</balance>
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        <currencyConditional curCd="ILS" exchangeRt="2.97945000"/>
        <valUSD>1738660.89000000</valUSD>
        <pctVal>0.168960719918</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MORROW BANK AB</name>
        <lei>9845009C8D6CC754F846</lei>
        <title>MORROW BANK AB NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0026852725"/>
          <ticker value="MORROW"/>
          <other otherDesc="SEDOL" value="BSSDQ64"/>
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        <balance>408370.00000000</balance>
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        <currencyConditional curCd="SEK" exchangeRt="9.67815000"/>
        <valUSD>497901.56000000</valUSD>
        <pctVal>0.048385401955</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="497900.34252584"/>
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      </invstOrSec>
      <invstOrSec>
        <name>CANCOM SE</name>
        <lei>391200T4AUN1BPBXAO14</lei>
        <title>CANCOM SE NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE0005419105"/>
          <ticker value="COK"/>
          <other otherDesc="SEDOL" value="5772627"/>
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        <balance>35803.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>951705.58000000</valUSD>
        <pctVal>0.092485464458</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MAX STOCK LTD</name>
        <lei>N/A</lei>
        <title>MAX STOCK LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="IL0011685588"/>
          <ticker value="MAXO"/>
          <other otherDesc="SEDOL" value="BMC5RW7"/>
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        <balance>103255.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HAKUTO CO LTD</name>
        <lei>N/A</lei>
        <title>HAKUTO CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3766400000"/>
          <ticker value="7433"/>
          <other otherDesc="SEDOL" value="6417251"/>
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        <balance>25600.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>KONTRON AG</name>
        <lei>5299002PSXXMVHB26433</lei>
        <title>KONTRON AG NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AT0000A0E9W5"/>
          <ticker value="KTN"/>
          <other otherDesc="SEDOL" value="4665933"/>
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        <balance>37389.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AT</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ALPS ALPINE CO LTD</name>
        <lei>529900PWNU4ASLY9VI90</lei>
        <title>ALPS ALPINE CO LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3126400005"/>
          <ticker value="6770"/>
          <other otherDesc="SEDOL" value="6021500"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NINE ENTERTAINMENT CO HOLDINGS LTD</name>
        <lei>529900WLXD3X7TFOAI42</lei>
        <title>NINE ENTERTAINMENT CO HOLDINGS LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000NEC4"/>
          <ticker value="NEC"/>
          <other otherDesc="SEDOL" value="BGQV183"/>
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        <balance>1995015.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>VICTORIAN PLUMBING GROUP PLC</name>
        <lei>894500R59II0S4WXGZ04</lei>
        <title>VICTORIAN PLUMBING GROUP PLC ORD GBP0.001</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BNVVHD43"/>
          <ticker value="VIC"/>
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        <balance>463916.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LAND DEVELOPMENT OF NIMRODI GROUP LTD</name>
        <lei>213800Z7833KR44LCC93</lei>
        <title>LAND DEVELOPMENT OF NIMRODI GROUP LTD ILS1</title>
        <cusip>000000000</cusip>
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          <isin value="IL0006120104"/>
          <ticker value="ILDC"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SHIBAURA MECHATRONICS CORP</name>
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        <title>SHIBAURA MECHATRONICS CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3355000005"/>
          <ticker value="6590"/>
          <other otherDesc="SEDOL" value="6804187"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WALLENSTAM AB</name>
        <lei>21380081R2P9MKFQBD25</lei>
        <title>WALLENSTAM AB SER'B'NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0017780133"/>
          <ticker value="WALLB"/>
          <other otherDesc="SEDOL" value="BLDB2F5"/>
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        <balance>182262.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FAR EAST ORCHARD LTD</name>
        <lei>N/A</lei>
        <title>FAR EAST ORCHARD LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG2P56002559"/>
          <ticker value="FEOR"/>
          <other otherDesc="SEDOL" value="6662880"/>
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        <balance>420500.00000000</balance>
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        <currencyConditional curCd="SGD" exchangeRt="1.29345000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SAN-A COMPANY LTD</name>
        <lei>N/A</lei>
        <title>SAN-A COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3324500002"/>
          <ticker value="2659"/>
          <other otherDesc="SEDOL" value="6280680"/>
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        <balance>22500.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MACFARLANE GROUP PLC</name>
        <lei>213800LVRYDERSJAAZ73</lei>
        <title>MACFARLANE GROUP PLC ORD GBP0.25</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0005518872"/>
          <ticker value="MACF"/>
          <other otherDesc="SEDOL" value="0551887"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KYORIN PHARMACEUTICAL INC</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3247090008"/>
          <ticker value="4569"/>
          <other otherDesc="SEDOL" value="B0YZFP0"/>
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        <balance>5990.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ARJO AB</name>
        <lei>549300OWGJPYKC6JF790</lei>
        <title>ARJO AB SER'B'NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SE0010468116"/>
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          <other otherDesc="SEDOL" value="BF17YL3"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>EM SYSTEMS COMPANY LTD</name>
        <lei>529900A0W2NTNPGSMM57</lei>
        <title>EM SYSTEMS COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3130200003"/>
          <ticker value="4820"/>
          <other otherDesc="SEDOL" value="6309455"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MONADELPHOUS GROUP LTD</name>
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        <title>MONADELPHOUS GROUP LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000MND5"/>
          <ticker value="MND"/>
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        <assetCat>EC</assetCat>
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        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CHESNARA PLC</name>
        <lei>213800VFRMBRTSZ3SJ06</lei>
        <title>CHESNARA PLC ORD GBP0.05</title>
        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>DATA 3 LTD</name>
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        <title>DATA 3 LTD NPV</title>
        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>DTS CORP</name>
        <lei>529900WBOTPBINBCF151</lei>
        <title>DTS CORP NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3548500002"/>
          <ticker value="9682"/>
          <other otherDesc="SEDOL" value="6255699"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>DERMAPHARM HOLDING SE</name>
        <lei>5299009F0KNZINQQQK37</lei>
        <title>DERMAPHARM HOLDING SE NPV</title>
        <cusip>000000000</cusip>
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          <isin value="DE000A2GS5D8"/>
          <ticker value="DMP"/>
          <other otherDesc="SEDOL" value="BFYTTC2"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TALENOM OYJ</name>
        <lei>7437008E4R0N45B8J675</lei>
        <title>TALENOM OYJ NPV</title>
        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</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>ELDERS LTD</name>
        <lei>254900Y0SQG962QL6549</lei>
        <title>ELDERS LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000ELD6"/>
          <ticker value="ELD"/>
          <other otherDesc="SEDOL" value="6357852"/>
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        <balance>175505.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JAPAN TRANSCITY CORP</name>
        <lei>N/A</lei>
        <title>JAPAN TRANSCITY CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3739600009"/>
          <ticker value="9310"/>
          <other otherDesc="SEDOL" value="6986386"/>
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        <balance>36900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>255195.20000000</valUSD>
        <pctVal>0.024799525289</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DISCOVERIE GROUP PLC</name>
        <lei>213800BMDLQU1VEEAN68</lei>
        <title>DISCOVERIE GROUP PLC ORD GBP0.05</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0000055888"/>
          <ticker value="DSCV"/>
          <other otherDesc="SEDOL" value="0005588"/>
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        <balance>73341.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>658030.47000000</valUSD>
        <pctVal>0.063946513422</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AUSTIN ENGINEERING LTD</name>
        <lei>549300PTFWS21NJC2396</lei>
        <title>AUSTIN ENGINEERING LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000ANG3"/>
          <ticker value="ANG"/>
          <other otherDesc="SEDOL" value="6710615"/>
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        <balance>2895224.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
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        <pctVal>0.027289083928</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</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>REACH SUBSEA ASA</name>
        <lei>5967007LIEEXZXK7FS45</lei>
        <title>REACH SUBSEA ASA NOK1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NO0003117202"/>
          <ticker value="REACH"/>
          <other otherDesc="SEDOL" value="4587695"/>
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        <balance>763389.00000000</balance>
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        <currencyConditional curCd="NOK" exchangeRt="9.89550000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NIPPON SHINYAKU CO LTD</name>
        <lei>N/A</lei>
        <title>NIPPON SHINYAKU CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3717600005"/>
          <ticker value="4516"/>
          <other otherDesc="SEDOL" value="6640563"/>
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        <balance>28500.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>704236.27000000</valUSD>
        <pctVal>0.068436730736</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TOKYO KIRABOSHI FINANCIAL GROUP INC</name>
        <lei>N/A</lei>
        <title>TOKYO KIRABOSHI FINANCIAL GROUP INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3584400000"/>
          <ticker value="7173"/>
          <other otherDesc="SEDOL" value="BQQ1JS9"/>
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        <balance>128800.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>1426488.23000000</valUSD>
        <pctVal>0.138624201925</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MAN WAH HOLDINGS LTD</name>
        <lei>52990005BW6K71UPKX41</lei>
        <title>MAN WAH HOLDINGS LTD HKD0.4</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG5800U1071"/>
          <ticker value="1999"/>
          <other otherDesc="SEDOL" value="B58YWF7"/>
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        <balance>4606000.00000000</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.84205000"/>
        <valUSD>1756165.80000000</valUSD>
        <pctVal>0.170661823458</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TIV TAAM HOLDINGS 1 LTD</name>
        <lei>N/A</lei>
        <title>TIV TAAM HOLDINGS 1 LTD ILS0.25</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0001030100"/>
          <ticker value="TTAM"/>
          <other otherDesc="SEDOL" value="B0LMR47"/>
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        <balance>137500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="2.97945000"/>
        <valUSD>533026.23000000</valUSD>
        <pctVal>0.051798770004</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KI STAR REAL ESTATE CO LTD</name>
        <lei>N/A</lei>
        <title>KI STAR REAL ESTATE CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3277620005"/>
          <ticker value="3465"/>
          <other otherDesc="SEDOL" value="BYZ0S75"/>
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        <balance>13300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>302375.02000000</valUSD>
        <pctVal>0.029384396553</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INFRONEER HOLDINGS INC</name>
        <lei>353800G6TWA2W0MY9K16</lei>
        <title>INFRONEER HOLDINGS INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3153850007"/>
          <ticker value="5076"/>
          <other otherDesc="SEDOL" value="BLGYFQ3"/>
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        <balance>152100.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>2504818.64000000</valUSD>
        <pctVal>0.243414896552</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ALTSHULER SHAHAM FINANCIAL SERVICES LTD</name>
        <lei>254900ZSMCNPCTEENA05</lei>
        <title>ALTSHULER SHAHAM FINANCIAL SERVICES LTD ILS0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0011849366"/>
          <ticker value="ALTF"/>
          <other otherDesc="SEDOL" value="BN11PN0"/>
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        <balance>286600.00000000</balance>
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        <currencyConditional curCd="ILS" exchangeRt="2.97945000"/>
        <valUSD>660744.57000000</valUSD>
        <pctVal>0.064210265999</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SCROLL CORP</name>
        <lei>N/A</lei>
        <title>SCROLL CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3913600007"/>
          <ticker value="8005"/>
          <other otherDesc="SEDOL" value="6611718"/>
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        <balance>80000.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FINTEL PLC</name>
        <lei>213800DXP1VY21GCTH04</lei>
        <title>FINTEL PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BG1THS43"/>
          <ticker value="FNTL"/>
          <other otherDesc="SEDOL" value="BG1THS4"/>
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        <balance>138787.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CIVMEC LTD</name>
        <lei>N/A</lei>
        <title>CIVMEC LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU0000012056"/>
          <ticker value="CVL"/>
          <other otherDesc="SEDOL" value="BFZL8R5"/>
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        <balance>627390.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JUPITER MINES LTD</name>
        <lei>254900OFKP9ZQXBCHE19</lei>
        <title>JUPITER MINES LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU0000005159"/>
          <ticker value="JMS"/>
          <other otherDesc="SEDOL" value="BF4J2C3"/>
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        <balance>3893038.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SKISTAR AB</name>
        <lei>529900CD7HSJ1CZS7089</lei>
        <title>SKISTAR AB SER'B'NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SE0012141687"/>
          <ticker value="SKISB"/>
          <other otherDesc="SEDOL" value="BGSCRG4"/>
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        <balance>40579.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KITRON ASA</name>
        <lei>5967007LIEEXZXIG6009</lei>
        <title>KITRON ASA NOK0.10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NO0003079709"/>
          <ticker value="KIT"/>
          <other otherDesc="SEDOL" value="5399684"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FUTURE CORP</name>
        <lei>N/A</lei>
        <title>FUTURE CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3826200002"/>
          <ticker value="4722"/>
          <other otherDesc="SEDOL" value="6221582"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TOTETSU KOGYO CO LTD</name>
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        <title>TOTETSU KOGYO CO LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3595400007"/>
          <ticker value="1835"/>
          <other otherDesc="SEDOL" value="6897444"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ELECNOR SA</name>
        <lei>95980020140005491250</lei>
        <title>ELECNOR SA EUR0.1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="ES0129743318"/>
          <ticker value="ENO"/>
          <other otherDesc="SEDOL" value="B3CTJS6"/>
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        <balance>168063.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</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>CASH CONVERTERS INTERNATIONAL LTD</name>
        <lei>529900XFNBTCIYK52250</lei>
        <title>CASH CONVERTERS INTERNATIONAL LTD ORD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000CCV1"/>
          <ticker value="CCV"/>
          <other otherDesc="SEDOL" value="6179603"/>
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        <balance>2057345.00000000</balance>
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        <valUSD>427598.59000000</valUSD>
        <pctVal>0.041553454165</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MATAS A/S</name>
        <lei>2138004PXX8LWGHGL872</lei>
        <title>MATAS A/S DKK2.50</title>
        <cusip>000000000</cusip>
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          <isin value="DK0060497295"/>
          <ticker value="MATAS"/>
          <other otherDesc="SEDOL" value="BBL4QM1"/>
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        <balance>26532.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>RATOS AB</name>
        <lei>2138008KECUUB9VR4798</lei>
        <title>RATOS AB SER'B'NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0000111940"/>
          <ticker value="RATOB"/>
          <other otherDesc="SEDOL" value="B130WD0"/>
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        <balance>216054.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ISRAMCO NEGEV 2 LP</name>
        <lei>213800N8SB4D3Y6BFI15</lei>
        <title>ISRAMCO NEGEV 2 LP ORD ILS1.00 (LIMITED PARTNERSHIP)</title>
        <cusip>000000000</cusip>
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          <isin value="IL0002320179"/>
          <ticker value="ISRA"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>F-SECURE OYJ</name>
        <lei>9845006BFDJF0375E466</lei>
        <title>F-SECURE OYJ NPV</title>
        <cusip>000000000</cusip>
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          <isin value="FI4000519236"/>
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          <other otherDesc="SEDOL" value="BMH2HP6"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>FI</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>YAMABIKO CORP</name>
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        <cusip>000000000</cusip>
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          <isin value="JP3943000004"/>
          <ticker value="6250"/>
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        <balance>26100.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BW OFFSHORE LTD</name>
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        <title>BW OFFSHORE LTD USD0.50</title>
        <cusip>000000000</cusip>
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          <isin value="BMG1738J1247"/>
          <ticker value="BWO"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PER AARSLEFF HOLDING A/S</name>
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        <title>PER AARSLEFF HOLDING A/S SER'B'DKK2</title>
        <cusip>000000000</cusip>
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          <isin value="DK0060700516"/>
          <ticker value="PAALB"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>DK</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LSL PROPERTY SERVICES PLC</name>
        <lei>213800T4VM5VR3C7S706</lei>
        <title>LSL PROPERTY SERVICES PLC ORD GBP0.002</title>
        <cusip>000000000</cusip>
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          <isin value="GB00B1G5HX72"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>SONAE SGPS SA</name>
        <lei>549300847SOBT7HY7R50</lei>
        <title>SONAE SGPS SA EUR1</title>
        <cusip>000000000</cusip>
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          <isin value="PTSON0AM0001"/>
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        <assetCat>EC</assetCat>
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        <invCountry>PT</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>ACROW LTD</name>
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        <cusip>000000000</cusip>
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          <isin value="AU0000006124"/>
          <ticker value="ACF"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>IRESS LTD</name>
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        <title>IRESS LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000IRE2"/>
          <ticker value="IRE"/>
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        <assetCat>EC</assetCat>
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        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AOZORA BANK LTD</name>
        <lei>X0XUGKC9FD2CYUQNC010</lei>
        <title>AOZORA BANK LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3711200000"/>
          <ticker value="8304"/>
          <other otherDesc="SEDOL" value="B1G1854"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>DEUTZ AG</name>
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        <cusip>000000000</cusip>
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        <fairValLevel>1</fairValLevel>
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        <name>FRIEDRICH VORWERK GROUP SE</name>
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        <cusip>000000000</cusip>
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        <fairValLevel>1</fairValLevel>
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        <name>NYAB AB</name>
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        <cusip>000000000</cusip>
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        <fairValLevel>1</fairValLevel>
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        <name>PS CONSTRUCTION CO LTD</name>
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        <title>PS CONSTRUCTION CO LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3801400007"/>
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        <name>EQT HOLDINGS LTD (AU)</name>
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        <cusip>000000000</cusip>
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        <name>POSTNL NV</name>
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        <title>POSTNL NV EUR0.08</title>
        <cusip>000000000</cusip>
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        <name>TOKAI TOKYO FINANCIAL HOLDINGS INC</name>
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        <name>TUAN SING HOLDINGS LTD</name>
        <lei>8755001UMEYVQ6IVUY87</lei>
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        <cusip>000000000</cusip>
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        <invCountry>SG</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>ATALAYA MINING COPPER SA</name>
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        <invCountry>ES</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ADDLIFE AB</name>
        <lei>5493005T3M7CD7XWE013</lei>
        <title>ADDLIFE AB SER'B'NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SE0014401378"/>
          <ticker value="ALIFB"/>
          <other otherDesc="SEDOL" value="BMVWYM8"/>
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        <balance>25424.00000000</balance>
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        <currencyConditional curCd="SEK" exchangeRt="9.67815000"/>
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        <pctVal>0.041713290695</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</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>AYALON INSURANCE CO LTD</name>
        <lei>N/A</lei>
        <title>AYALON INSURANCE CO LTD ILS1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0002090152"/>
          <ticker value="AYAL"/>
          <other otherDesc="SEDOL" value="6051897"/>
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        <balance>54194.00000000</balance>
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        <currencyConditional curCd="ILS" exchangeRt="2.97945000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SAKATA INX CORP</name>
        <lei>N/A</lei>
        <title>SAKATA INX CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3314800008"/>
          <ticker value="4633"/>
          <other otherDesc="SEDOL" value="6769833"/>
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        <balance>44700.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>OGAKI KYORITSU BANK LTD (THE)</name>
        <lei>549300M5X5T6C27W3H96</lei>
        <title>OGAKI KYORITSU BANK LTD (THE) NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3176000002"/>
          <ticker value="8361"/>
          <other otherDesc="SEDOL" value="6656485"/>
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        <balance>24400.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SLIGRO FOOD GROUP NV</name>
        <lei>724500YLB8OA6WK5CH48</lei>
        <title>SLIGRO FOOD GROUP NV EUR0.06</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL0000817179"/>
          <ticker value="SLIGR"/>
          <other otherDesc="SEDOL" value="B1VV9V2"/>
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        <balance>51372.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SEMAPA SOCIEDADE DE INVESTIMENTO E GESTAO SGPS SA</name>
        <lei>549300HNGOW85KIOH584</lei>
        <title>SEMAPA SOCIEDADE DE INVESTIMENTO E GESTAO SGPS SA NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="PTSEM0AM0004"/>
          <ticker value="SEM"/>
          <other otherDesc="SEDOL" value="5962934"/>
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        <balance>61941.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
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        <pctVal>0.139702878149</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CA IMMOBILIEN ANLAGEN AG</name>
        <lei>5299003ICAPV07J0R180</lei>
        <title>CA IMMOBILIEN ANLAGEN AG NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AT0000641352"/>
          <ticker value="CAI"/>
          <other otherDesc="SEDOL" value="5681046"/>
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        <balance>87207.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
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        <pctVal>0.220910977834</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AT</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SANGETSU CORP</name>
        <lei>N/A</lei>
        <title>SANGETSU CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3330000005"/>
          <ticker value="8130"/>
          <other otherDesc="SEDOL" value="6774655"/>
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        <balance>47500.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <pctVal>0.084267837537</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ABC ARBITRAGE SA</name>
        <lei>969500IZ7E6B3QVX2I11</lei>
        <title>ABC ARBITRAGE SA EUR0.016</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0004040608"/>
          <ticker value="ABCA"/>
          <other otherDesc="SEDOL" value="4121714"/>
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        <balance>110969.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
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        <pctVal>0.063864943606</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CHORI CO LTD</name>
        <lei>N/A</lei>
        <title>CHORI CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3528200003"/>
          <ticker value="8014"/>
          <other otherDesc="SEDOL" value="6193506"/>
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        <balance>21800.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CAREL INDUSTRIES SPA</name>
        <lei>815600115DA6E507AE33</lei>
        <title>CAREL INDUSTRIES SPA NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IT0005331019"/>
          <ticker value="CRL"/>
          <other otherDesc="SEDOL" value="BG1VQ16"/>
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        <balance>29293.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>RYOYO RYOSAN HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>RYOYO RYOSAN HOLDINGS INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3975410006"/>
          <ticker value="167A"/>
          <other otherDesc="SEDOL" value="BSLKXP0"/>
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        <balance>39100.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <pctVal>0.062749455137</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CRYSTAL INTERNATIONAL GROUP LTD</name>
        <lei>N/A</lei>
        <title>CRYSTAL INTERNATIONAL GROUP LTD HKD0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG2701R1011"/>
          <ticker value="2232"/>
          <other otherDesc="SEDOL" value="BF09MJ4"/>
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        <balance>2896000.00000000</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.84205000"/>
        <valUSD>2090188.15000000</valUSD>
        <pctVal>0.203121664851</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HOEGH AUTOLINERS ASA</name>
        <lei>549300D7GNMPKTA4HD46</lei>
        <title>HOEGH AUTOLINERS ASA NOK1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NO0011082075"/>
          <ticker value="HAUTO"/>
          <other otherDesc="SEDOL" value="BMFDP24"/>
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        <balance>502963.00000000</balance>
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        <currencyConditional curCd="NOK" exchangeRt="9.89550000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PENNON GROUP PLC</name>
        <lei>213800V1CCTS41GWH423</lei>
        <title>PENNON GROUP PLC ORD GBP0.6105</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BNNTLN49"/>
          <ticker value="PNN"/>
          <other otherDesc="SEDOL" value="BNNTLN4"/>
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        <balance>541882.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>OSB GROUP PLC</name>
        <lei>213800ZBKL9BHSL2K459</lei>
        <title>OSB GROUP PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BLDRH360"/>
          <ticker value="OSB"/>
          <other otherDesc="SEDOL" value="BLDRH36"/>
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        <balance>405270.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KENDRION NV</name>
        <lei>724500IGR5FBK0RLZI29</lei>
        <title>KENDRION NV EUR2</title>
        <cusip>000000000</cusip>
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          <isin value="NL0000852531"/>
          <ticker value="KENDR"/>
          <other otherDesc="SEDOL" value="B1VYCB2"/>
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        <balance>35589.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>GS YUASA CORP</name>
        <lei>353800MW7O6PQQHLDR79</lei>
        <title>GS YUASA CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3385820000"/>
          <ticker value="6674"/>
          <other otherDesc="SEDOL" value="6744250"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>DIOS FASTIGHETER AB</name>
        <lei>549300G3VF7LZQ9IW435</lei>
        <title>DIOS FASTIGHETER AB NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0001634262"/>
          <ticker value="DIOS"/>
          <other otherDesc="SEDOL" value="B1323T9"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CORPORATE TRAVEL MANAGEMENT LTD</name>
        <lei>529900NSAKXFXS5XED26</lei>
        <title>CORPORATE TRAVEL MANAGEMENT LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000CTD3"/>
          <ticker value="CTD"/>
          <other otherDesc="SEDOL" value="B3R1D52"/>
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        <balance>81192.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>YONEX CO LTD</name>
        <lei>353800AI38G8HRG7UJ91</lei>
        <title>YONEX CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3960000002"/>
          <ticker value="7906"/>
          <other otherDesc="SEDOL" value="6993784"/>
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        <balance>12000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SBO AG</name>
        <lei>549300ZD9ED8GSG3JW36</lei>
        <title>SBO AG EUR1 (BR)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AT0000946652"/>
          <ticker value="SBO"/>
          <other otherDesc="SEDOL" value="7571305"/>
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        <balance>28313.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>932263.36000000</valUSD>
        <pctVal>0.090596095745</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AT</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>NAKANISHI INC</name>
        <lei>353800EXA7IQ42YKF224</lei>
        <title>NAKANISHI INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3642500007"/>
          <ticker value="7716"/>
          <other otherDesc="SEDOL" value="6271071"/>
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        <balance>27300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>502242.73000000</valUSD>
        <pctVal>0.048807270999</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TODA CORP</name>
        <lei>N/A</lei>
        <title>TODA CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3627000007"/>
          <ticker value="1860"/>
          <other otherDesc="SEDOL" value="6893884"/>
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        <balance>134900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>1351697.58000000</valUSD>
        <pctVal>0.131356147447</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CATANA GROUP SA</name>
        <lei>96950079QAYBTB8V4F22</lei>
        <title>CATANA GROUP SA EUR0.50</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0010193052"/>
          <ticker value="ALCAT"/>
          <other otherDesc="SEDOL" value="B083S40"/>
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        <balance>70937.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>180047.06000000</valUSD>
        <pctVal>0.017496730415</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <loanByFundCondition isLoanByFund="Y" loanVal="37437.36144633"/>
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      </invstOrSec>
      <invstOrSec>
        <name>HEALTH &amp; HAPPINESS INTERNATIONAL HOLDINGS LTD</name>
        <lei>2138007WU5DJFZFDDV59</lei>
        <title>HEALTH &amp; HAPPINESS INTERNATIONAL HOLDINGS LTD HKD0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG4387E1070"/>
          <ticker value="1112"/>
          <other otherDesc="SEDOL" value="BF5L8M0"/>
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        <balance>381500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84205000"/>
        <valUSD>495236.58000000</valUSD>
        <pctVal>0.048126422793</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LUCECO PLC</name>
        <lei>213800BBFZK4W4P98U76</lei>
        <title>LUCECO PLC ORD GBP0.0005</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BZC0LP49"/>
          <ticker value="LUCE"/>
          <other otherDesc="SEDOL" value="BZC0LP4"/>
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        <balance>292627.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>1056417.97000000</valUSD>
        <pctVal>0.102661273266</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FULLER SMITH &amp; TURNER PLC</name>
        <lei>213800C7ACOFMRCQQW76</lei>
        <title>FULLER SMITH &amp; TURNER PLC 'A'ORD GBP0.40</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B1YPC344"/>
          <ticker value="FSTA"/>
          <other otherDesc="SEDOL" value="B1YPC34"/>
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        <balance>49670.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>478611.64000000</valUSD>
        <pctVal>0.046510833550</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VBG GROUP AB</name>
        <lei>549300O1V2ZWY6W9GZ14</lei>
        <title>VBG GROUP AB SER'B'NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0000115107"/>
          <ticker value="VBGB"/>
          <other otherDesc="SEDOL" value="B156Y18"/>
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        <balance>17595.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.67815000"/>
        <valUSD>577219.04000000</valUSD>
        <pctVal>0.056093367665</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NANTO BANK LTD (THE)</name>
        <lei>353800923E4YW3IDES52</lei>
        <title>NANTO BANK LTD (THE) NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3653400006"/>
          <ticker value="8367"/>
          <other otherDesc="SEDOL" value="6621524"/>
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        <balance>65900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>714854.33000000</valUSD>
        <pctVal>0.069468579484</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SANYO DENKI CO LTD</name>
        <lei>N/A</lei>
        <title>SANYO DENKI CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3340800006"/>
          <ticker value="6516"/>
          <other otherDesc="SEDOL" value="6776974"/>
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        <balance>6600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>264771.57000000</valUSD>
        <pctVal>0.025730144008</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BRAVURA SOLUTIONS LTD</name>
        <lei>529900RBSF446W3SB455</lei>
        <title>BRAVURA SOLUTIONS LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000BVS9"/>
          <ticker value="BVS"/>
          <other otherDesc="SEDOL" value="BZBHBM3"/>
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        <balance>289632.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
        <valUSD>405327.24000000</valUSD>
        <pctVal>0.039389154415</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AOYAMA TRADING CO LTD</name>
        <lei>549300FYZLM486BSOQ14</lei>
        <title>AOYAMA TRADING CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3106200003"/>
          <ticker value="8219"/>
          <other otherDesc="SEDOL" value="6045878"/>
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        <balance>137700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>582910.94000000</valUSD>
        <pctVal>0.056646498829</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PEXIP HOLDING ASA</name>
        <lei>549300S79JFZK79XBI07</lei>
        <title>PEXIP HOLDING ASA NOK0.015</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NO0010840507"/>
          <ticker value="PEXIP"/>
          <other otherDesc="SEDOL" value="BM8R3B8"/>
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        <balance>150504.00000000</balance>
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        <pctVal>0.116172600306</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RAMI LEVI CHAIN STORES HASHIKMA MARKETING 2006 LTD</name>
        <lei>N/A</lei>
        <title>RAMI LEVI CHAIN STORES HASHIKMA MARKETING 2006 LTD ILS0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0011042491"/>
          <ticker value="RMLI"/>
          <other otherDesc="SEDOL" value="B3CR162"/>
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        <balance>15237.00000000</balance>
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        <currencyConditional curCd="ILS" exchangeRt="2.97945000"/>
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        <pctVal>0.181395745780</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SPAREBANK 1 OSTLANDET</name>
        <lei>549300VRM6G42M8OWN49</lei>
        <title>SPAREBANK 1 OSTLANDET NOK50 GRUNNFONDSBEVIS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NO0010751910"/>
          <ticker value="SPOL"/>
          <other otherDesc="SEDOL" value="BZ12WQ9"/>
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        <balance>74758.00000000</balance>
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        <currencyConditional curCd="NOK" exchangeRt="9.89550000"/>
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        <pctVal>0.138961829713</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</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>ALINCO INC</name>
        <lei>N/A</lei>
        <title>ALINCO INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3126100001"/>
          <ticker value="5933"/>
          <other otherDesc="SEDOL" value="6014458"/>
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        <balance>7400.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SECURE TRUST BANK PLC</name>
        <lei>213800CXIBLC2TMIGI76</lei>
        <title>SECURE TRUST BANK PLC ORD GBP0.40</title>
        <cusip>000000000</cusip>
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          <isin value="GB00B6TKHP66"/>
          <ticker value="STB"/>
          <other otherDesc="SEDOL" value="B6TKHP6"/>
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        <balance>40326.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WELLNEO SUGAR CO LTD (NISSIN SUGAR CO LTD)</name>
        <lei>N/A</lei>
        <title>WELLNEO SUGAR CO LTD (NISSIN SUGAR CO LTD) NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3676600004"/>
          <ticker value="2117"/>
          <other otherDesc="SEDOL" value="B44QDD5"/>
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        <balance>35200.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>LANDIS+GYR GROUP AG</name>
        <lei>529900PZYVAKCYSLFL19</lei>
        <title>LANDIS+GYR GROUP AG CHF10 (REGD)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CH0371153492"/>
          <ticker value="LAND"/>
          <other otherDesc="SEDOL" value="BF41XY8"/>
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        <balance>12930.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TAIYO YUDEN CO LTD</name>
        <lei>353800V9G3X5PLB9AD43</lei>
        <title>TAIYO YUDEN CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3452000007"/>
          <ticker value="6976"/>
          <other otherDesc="SEDOL" value="6870564"/>
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        <balance>47700.00000000</balance>
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        <valUSD>5913890.17000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NIOX GROUP PLC</name>
        <lei>2138006YAT138TOGA556</lei>
        <title>NIOX GROUP PLC ORD GBP0.0008</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BJVD3B28"/>
          <ticker value="NIOX"/>
          <other otherDesc="SEDOL" value="BJVD3B2"/>
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        <balance>407945.00000000</balance>
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        <valUSD>322701.03000000</valUSD>
        <pctVal>0.031359650786</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HELICAL PLC</name>
        <lei>2138003SBD2Z7WV2MP70</lei>
        <title>HELICAL PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B0FYMT95"/>
          <ticker value="HLCL"/>
          <other otherDesc="SEDOL" value="B0FYMT9"/>
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        <balance>162919.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</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>GMO FINANCIAL HOLDINGS INC</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
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          <isin value="JP3386550002"/>
          <ticker value="7177"/>
          <other otherDesc="SEDOL" value="BVVQ8T8"/>
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        <balance>118700.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MORIMATSU INTERNATIONAL HOLDINGS CO LTD</name>
        <lei>254900S979D8JU8HAB24</lei>
        <title>MORIMATSU INTERNATIONAL HOLDINGS CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="HK0000709128"/>
          <ticker value="2155"/>
          <other otherDesc="SEDOL" value="BNKLJ40"/>
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        <balance>555000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>HK</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>HENRY BOOT PLC</name>
        <lei>213800H5873O9TC3XT22</lei>
        <title>HENRY BOOT PLC ORD GBP0.10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0001110096"/>
          <ticker value="BOOT"/>
          <other otherDesc="SEDOL" value="0111009"/>
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        <balance>151045.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SHIGA BANK LTD (THE)</name>
        <lei>3538002NUIQ8JFEJNS94</lei>
        <title>SHIGA BANK LTD (THE) NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3347600003"/>
          <ticker value="8366"/>
          <other otherDesc="SEDOL" value="6804240"/>
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        <balance>57100.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HOKKAIDO ELECTRIC POWER CO INC</name>
        <lei>353800XDXIIZDHUO0J51</lei>
        <title>HOKKAIDO ELECTRIC POWER CO INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3850200001"/>
          <ticker value="9509"/>
          <other otherDesc="SEDOL" value="6431325"/>
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        <balance>53400.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JAPAN LIFELINE CO LTD</name>
        <lei>353800QUW6LROZVA6765</lei>
        <title>JAPAN LIFELINE CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3754500001"/>
          <ticker value="7575"/>
          <other otherDesc="SEDOL" value="6093491"/>
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        <balance>36200.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NITTO BOSEKI CO LTD</name>
        <lei>3538005B13YMJ9BWQO82</lei>
        <title>NITTO BOSEKI CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3684400009"/>
          <ticker value="3110"/>
          <other otherDesc="SEDOL" value="6641083"/>
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        <balance>14000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MAUREL ET PROM SA</name>
        <lei>969500ZTYI9C1C594X25</lei>
        <title>MAUREL ET PROM SA EUR0.77</title>
        <cusip>000000000</cusip>
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          <isin value="FR0000051070"/>
          <ticker value="MAU"/>
          <other otherDesc="SEDOL" value="B05DY78"/>
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        <balance>298875.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WILMINGTON PLC</name>
        <lei>213800PFUQT4HHFYZJ63</lei>
        <title>WILMINGTON PLC ORD GBP0.05</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0009692319"/>
          <ticker value="WIL"/>
          <other otherDesc="SEDOL" value="0969231"/>
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        <balance>109496.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MCMILLAN SHAKESPEARE LTD</name>
        <lei>254900GPJQUGWJEAZ102</lei>
        <title>MCMILLAN SHAKESPEARE LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000MMS5"/>
          <ticker value="MMS"/>
          <other otherDesc="SEDOL" value="B00G1Q0"/>
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        <balance>130931.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ADVANCED MEDICAL SOLUTIONS GROUP PLC</name>
        <lei>213800HJP6OWOSZI1L74</lei>
        <title>ADVANCED MEDICAL SOLUTIONS GROUP PLC ORD GBP0.05</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0004536594"/>
          <ticker value="AMS"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HARWORTH GROUP PLC</name>
        <lei>213800R8JSSGK2KPFG21</lei>
        <title>HARWORTH GROUP PLC ORD GBP0.1</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BYZJ7G42"/>
          <ticker value="HWG"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SAF-HOLLAND SE</name>
        <lei>222100QJQLUJHWREL058</lei>
        <title>SAF-HOLLAND SE EUR1 (BR)</title>
        <cusip>000000000</cusip>
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          <isin value="DE000SAFH001"/>
          <ticker value="SFQ"/>
          <other otherDesc="SEDOL" value="BL5BYR9"/>
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        <assetCat>EC</assetCat>
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        <invCountry>DE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>KIYO BANK LTD (THE)</name>
        <lei>3538002347FGLMNPVY63</lei>
        <title>KIYO BANK LTD (THE) NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3248000006"/>
          <ticker value="8370"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AZORIM INVESTMENT DEVELOPMENT &amp; COSTRUCTION COMPANY LTD</name>
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        <title>AZORIM INVESTMENT DEVELOPMENT &amp; COSTRUCTION COMPANY LTD ILS1</title>
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          <ticker value="AZRM"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IL</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SAIZERIYA COMPANY LTD</name>
        <lei>N/A</lei>
        <title>SAIZERIYA COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3310500008"/>
          <ticker value="7581"/>
          <other otherDesc="SEDOL" value="6111779"/>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>NIHON M&amp;A CENTER HOLDINGS INC</name>
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        <cusip>000000000</cusip>
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          <isin value="JP3689050007"/>
          <ticker value="2127"/>
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        <invCountry>JP</invCountry>
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        <name>PERPETUAL LTD</name>
        <lei>549300US8OE0UQWXPO82</lei>
        <title>PERPETUAL LTD NPV</title>
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        <invCountry>AU</invCountry>
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      <invstOrSec>
        <name>TROAX GROUP AB</name>
        <lei>5493003TBEWGBIEG1X97</lei>
        <title>TROAX GROUP AB NPV</title>
        <cusip>000000000</cusip>
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          <other otherDesc="SEDOL" value="BJ84HW7"/>
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        <assetCat>EC</assetCat>
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        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>FIRST BANK OF TOYAMA LTD (THE)</name>
        <lei>98450054D3B87A37C666</lei>
        <title>FIRST BANK OF TOYAMA LTD (THE) NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3632150003"/>
          <ticker value="7184"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>EVERPLAY GROUP PLC</name>
        <lei>2138006EUUCCL4ZI5E51</lei>
        <title>EVERPLAY GROUP PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
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          <ticker value="EVPL"/>
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        <valUSD>296927.35000000</valUSD>
        <pctVal>0.028854999331</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="107124.42165119"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PINNACLE INVESTMENT MANAGEMENT GROUP LTD</name>
        <lei>N/A</lei>
        <title>PINNACLE INVESTMENT MANAGEMENT GROUP LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000PNI7"/>
          <ticker value="PNI"/>
          <other otherDesc="SEDOL" value="BD0F7H1"/>
        </identifiers>
        <balance>158754.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
        <valUSD>1881839.45000000</valUSD>
        <pctVal>0.182874619238</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DICKER DATA LTD</name>
        <lei>549300Z9AR1B5G2UQJ37</lei>
        <title>DICKER DATA LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000DDR5"/>
          <ticker value="DDR"/>
          <other otherDesc="SEDOL" value="B3YPKQ7"/>
        </identifiers>
        <balance>184876.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
        <valUSD>1611272.74000000</valUSD>
        <pctVal>0.156581311342</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ELEMENTIS PLC</name>
        <lei>549300LQIH685LI2ML36</lei>
        <title>ELEMENTIS PLC ORD GBP0.05</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0002418548"/>
          <ticker value="ELM"/>
          <other otherDesc="SEDOL" value="0241854"/>
        </identifiers>
        <balance>350553.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>715587.10000000</valUSD>
        <pctVal>0.069539789084</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COSMO NV</name>
        <lei>724500OX0EBQRYTVV639</lei>
        <title>COSMO NV EUR0.26 (REGD)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL0011832936"/>
          <ticker value="COPN"/>
          <other otherDesc="SEDOL" value="BYYLS68"/>
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        <balance>11988.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.80665000"/>
        <valUSD>988287.36000000</valUSD>
        <pctVal>0.096040432491</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="438744.18892974"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BRAVIDA HOLDING AB</name>
        <lei>549300H88IJGPNNL3T61</lei>
        <title>BRAVIDA HOLDING AB NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0007491303"/>
          <ticker value="BRAV"/>
          <other otherDesc="SEDOL" value="BZ1DP29"/>
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        <balance>172562.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.67815000"/>
        <valUSD>2203795.48000000</valUSD>
        <pctVal>0.214161871929</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TRISTEL PLC</name>
        <lei>2138009DZ4LH9CZGF662</lei>
        <title>TRISTEL PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B07RVT99"/>
          <ticker value="TSTL"/>
          <other otherDesc="SEDOL" value="B07RVT9"/>
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        <balance>98037.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>520478.13000000</valUSD>
        <pctVal>0.050579362572</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NETO MALINDA TRADING LTD</name>
        <lei>N/A</lei>
        <title>NETO MALINDA TRADING LTD ILS1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0011050973"/>
          <ticker value="NTML"/>
          <other otherDesc="SEDOL" value="B3CR0Y3"/>
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        <balance>31825.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="2.97945000"/>
        <valUSD>1465502.02000000</valUSD>
        <pctVal>0.142415509410</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KOJIMA CO LTD</name>
        <lei>N/A</lei>
        <title>KOJIMA CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3297380002"/>
          <ticker value="7513"/>
          <other otherDesc="SEDOL" value="6488912"/>
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        <balance>20400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>162672.82000000</valUSD>
        <pctVal>0.015808325209</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NABTESCO CORP</name>
        <lei>529900DVHQXYRTGW7739</lei>
        <title>NABTESCO CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3651210001"/>
          <ticker value="6268"/>
          <other otherDesc="SEDOL" value="6687571"/>
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        <balance>36400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>1151406.86000000</valUSD>
        <pctVal>0.111892165461</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TSUMURA &amp; COMPANY</name>
        <lei>3538005RS3M1OVJLC663</lei>
        <title>TSUMURA &amp; COMPANY NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3535800001"/>
          <ticker value="4540"/>
          <other otherDesc="SEDOL" value="6906919"/>
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        <balance>41601.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>951940.43000000</valUSD>
        <pctVal>0.092508286864</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BEACON LIGHTING GROUP LTD</name>
        <lei>N/A</lei>
        <title>BEACON LIGHTING GROUP LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000BLX0"/>
          <ticker value="BLX"/>
          <other otherDesc="SEDOL" value="BKXF175"/>
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        <balance>244470.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
        <valUSD>294701.74000000</valUSD>
        <pctVal>0.028638717554</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WisdomTree Treasury Money Market Digital Fund</name>
        <lei>N/A</lei>
        <title>WisdomTree Treasury Money Market Digital Fund</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="WTGXX"/>
          <other otherDesc="INTERNAL" value="BYM5QN7Q7"/>
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        <balance>16500000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16500000.00000000</valUSD>
        <pctVal>1.603447742275</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="16500000.00000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ENAV SPA</name>
        <lei>81560048ECF8D2059980</lei>
        <title>ENAV SPA NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IT0005176406"/>
          <ticker value="ENAV"/>
          <other otherDesc="SEDOL" value="BD0CRV6"/>
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        <balance>627263.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>3725593.45000000</valUSD>
        <pctVal>0.362048145820</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>COMPAGNIE DES ALPES SA</name>
        <lei>96950029IN3GW457GG90</lei>
        <title>COMPAGNIE DES ALPES SA NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0000053324"/>
          <ticker value="CDA"/>
          <other otherDesc="SEDOL" value="B1YBWR6"/>
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        <balance>58427.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>1472931.06000000</valUSD>
        <pctVal>0.143137453496</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SALZGITTER AG - STAHL UND TECHNOLOGIE</name>
        <lei>529900E12Z6HXIMHFA15</lei>
        <title>SALZGITTER AG - STAHL UND TECHNOLOGIE ORD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE0006202005"/>
          <ticker value="SZG"/>
          <other otherDesc="SEDOL" value="5465358"/>
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        <balance>14711.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>761231.91000000</valUSD>
        <pctVal>0.073975490147</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PIGEON CORP</name>
        <lei>2549006T3HT0TI9IRV62</lei>
        <title>PIGEON CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3801600002"/>
          <ticker value="7956"/>
          <other otherDesc="SEDOL" value="6688080"/>
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        <balance>66100.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>842086.14000000</valUSD>
        <pctVal>0.081832795150</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ALANTRA PARTNERS SA</name>
        <lei>95980078NDTDLTDH6130</lei>
        <title>ALANTRA PARTNERS SA EUR3</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="ES0126501131"/>
          <ticker value="ALNT"/>
          <other otherDesc="SEDOL" value="5377884"/>
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        <balance>42321.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>491113.87000000</valUSD>
        <pctVal>0.047725783397</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FOCUSRITE PLC</name>
        <lei>213800JJ51KA4LOTF736</lei>
        <title>FOCUSRITE PLC ORD GBP0.001</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BSBMW716"/>
          <ticker value="TUNE"/>
          <other otherDesc="SEDOL" value="BSBMW71"/>
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        <balance>189927.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>554577.02000000</valUSD>
        <pctVal>0.053893046705</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KONINKLIJKE BAM GROEP NV</name>
        <lei>724500V38C5KTDY5BS93</lei>
        <title>KONINKLIJKE BAM GROEP NV EUR0.10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL0000337319"/>
          <ticker value="BAMNB"/>
          <other otherDesc="SEDOL" value="B12W5Y9"/>
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        <balance>171062.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>2399707.70000000</valUSD>
        <pctVal>0.233200357193</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BREVILLE GROUP LTD</name>
        <lei>529900MM4WH0KSB3KW37</lei>
        <title>BREVILLE GROUP LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000BRG2"/>
          <ticker value="BRG"/>
          <other otherDesc="SEDOL" value="6158709"/>
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        <balance>53032.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
        <valUSD>1185250.79000000</valUSD>
        <pctVal>0.115181072924</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1185228.43694640"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DUNELM GROUP PLC</name>
        <lei>213800WCOWEI3T5DUV19</lei>
        <title>DUNELM GROUP PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B1CKQ739"/>
          <ticker value="DNLM"/>
          <other otherDesc="SEDOL" value="B1CKQ73"/>
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        <balance>375369.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>3918407.61000000</valUSD>
        <pctVal>0.380785565792</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FRENCKEN GROUP LTD</name>
        <lei>N/A</lei>
        <title>FRENCKEN GROUP LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG1R43925234"/>
          <ticker value="ELC"/>
          <other otherDesc="SEDOL" value="B088VB3"/>
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        <balance>406900.00000000</balance>
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        <pctVal>0.091712844621</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</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>NIHON NOHYAKU CO LTD</name>
        <lei>N/A</lei>
        <title>NIHON NOHYAKU CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3741800001"/>
          <ticker value="4997"/>
          <other otherDesc="SEDOL" value="6470362"/>
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        <balance>22500.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</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>BUMITAMA AGRI LTD</name>
        <lei>529900BOE6UQFFDNZR10</lei>
        <title>BUMITAMA AGRI LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG2E67980267"/>
          <ticker value="BAL"/>
          <other otherDesc="SEDOL" value="B7WJ188"/>
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        <balance>2113700.00000000</balance>
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        <currencyConditional curCd="SGD" exchangeRt="1.29345000"/>
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        <pctVal>0.260440437814</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BETSSON AB</name>
        <lei>549300W61XW8OFGBG077</lei>
        <title>BETSSON AB NPV B</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0022726485"/>
          <ticker value="BETSB"/>
          <other otherDesc="SEDOL" value="BMWC784"/>
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        <balance>122699.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</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>ELECOM COMPANY LTD</name>
        <lei>353800BXFUVR7EPC0G35</lei>
        <title>ELECOM COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3168200008"/>
          <ticker value="6750"/>
          <other otherDesc="SEDOL" value="6388528"/>
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        <balance>42300.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <pctVal>0.045273502489</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NIPPON KAYAKU CO LTD</name>
        <lei>N/A</lei>
        <title>NIPPON KAYAKU CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3694400007"/>
          <ticker value="4272"/>
          <other otherDesc="SEDOL" value="6640422"/>
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        <balance>115599.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FAGERHULT GROUP AB</name>
        <lei>549300G9NPD8LSJLMP91</lei>
        <title>FAGERHULT GROUP AB NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0010048884"/>
          <ticker value="FAG"/>
          <other otherDesc="SEDOL" value="BD8P085"/>
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        <balance>166341.00000000</balance>
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        <pctVal>0.028728057775</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</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>OKINAWA CELLULAR TELEPHONE COMPANY</name>
        <lei>N/A</lei>
        <title>OKINAWA CELLULAR TELEPHONE COMPANY NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3194650002"/>
          <ticker value="9436"/>
          <other otherDesc="SEDOL" value="6147428"/>
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        <balance>61400.00000000</balance>
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        <pctVal>0.134736458235</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>OEM INTERNATIONAL AB</name>
        <lei>549300Z7DLN54J8M4J79</lei>
        <title>OEM INTERNATIONAL AB SER'B'NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0017766843"/>
          <ticker value="OEMB"/>
          <other otherDesc="SEDOL" value="BMH6350"/>
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        <balance>52099.00000000</balance>
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        <currencyConditional curCd="SEK" exchangeRt="9.67815000"/>
        <valUSD>898987.20000000</valUSD>
        <pctVal>0.087362363404</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LINEA DIRECTA ASEGURADORA SA</name>
        <lei>95980079E2NBJT967T79</lei>
        <title>LINEA DIRECTA ASEGURADORA SA EUR0.04</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="ES0105546008"/>
          <ticker value="LDA"/>
          <other otherDesc="SEDOL" value="BNC0LH2"/>
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        <balance>654395.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>899300.17000000</valUSD>
        <pctVal>0.087392777406</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FUJI OIL CO LTD</name>
        <lei>N/A</lei>
        <title>FUJI OIL CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3816400000"/>
          <ticker value="2607"/>
          <other otherDesc="SEDOL" value="6356848"/>
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        <balance>12500.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>304414.71000000</valUSD>
        <pctVal>0.029582610876</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TRANSCOSMOS INC</name>
        <lei>353800AAR1GYRFDRTV97</lei>
        <title>TRANSCOSMOS INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3635700002"/>
          <ticker value="9715"/>
          <other otherDesc="SEDOL" value="6900955"/>
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        <balance>15200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>IINO KAIUN KAISHA LTD</name>
        <lei>353800VWL98SRNE0NX81</lei>
        <title>IINO KAIUN KAISHA LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3131200002"/>
          <ticker value="9119"/>
          <other otherDesc="SEDOL" value="6457008"/>
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        <balance>69100.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TOHO GAS CO LTD</name>
        <lei>353800BCVTE4F8012906</lei>
        <title>TOHO GAS CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3600200004"/>
          <ticker value="9533"/>
          <other otherDesc="SEDOL" value="6895222"/>
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        <balance>84100.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TAKARA HOLDINGS INC</name>
        <lei>3538001CXSU150WNEY98</lei>
        <title>TAKARA HOLDINGS INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3459600007"/>
          <ticker value="2531"/>
          <other otherDesc="SEDOL" value="6870382"/>
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        <balance>38800.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MARIMEKKO OYJ</name>
        <lei>74370053IOY42B9YJ350</lei>
        <title>MARIMEKKO OYJ NPV</title>
        <cusip>000000000</cusip>
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          <isin value="FI0009007660"/>
          <ticker value="MEKKO"/>
          <other otherDesc="SEDOL" value="5645837"/>
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        <assetCat>EC</assetCat>
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        <invCountry>FI</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HEMNET GROUP AB</name>
        <lei>5493008VIU67J3HUAR07</lei>
        <title>HEMNET GROUP AB NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SE0015671995"/>
          <ticker value="HEM"/>
          <other otherDesc="SEDOL" value="BN2RJ91"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HAPPINET CORP</name>
        <lei>N/A</lei>
        <title>HAPPINET CORP NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3770300006"/>
          <ticker value="7552"/>
          <other otherDesc="SEDOL" value="6042675"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>OVS SPA</name>
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        <title>OVS SPA NPV</title>
        <cusip>000000000</cusip>
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          <isin value="IT0005043507"/>
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          <other otherDesc="SEDOL" value="BW0D7R8"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Centuria Capital Group</name>
        <lei>N/A</lei>
        <title>Centuria Capital Group SUBS RTS</title>
        <cusip>000000000</cusip>
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          <isin value="AU0000475808"/>
          <ticker value="CNIAQ"/>
          <other otherDesc="SEDOL" value="BVSTMB0"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CNMC GOLDMINE HOLDINGS LTD</name>
        <lei>N/A</lei>
        <title>CNMC GOLDMINE HOLDINGS LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG2D72974892"/>
          <ticker value="CNMC"/>
          <other otherDesc="SEDOL" value="B429GM6"/>
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        <pctVal>0.041880020107</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</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>PETRONOR E&amp;P ASA</name>
        <lei>984500AEEH2D2AK42C11</lei>
        <title>PETRONOR E&amp;P ASA NOK0.01</title>
        <cusip>000000000</cusip>
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          <isin value="NO0012942525"/>
          <ticker value="PNOR"/>
          <other otherDesc="SEDOL" value="BRS79H1"/>
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        <balance>385828.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="9.89550000"/>
        <valUSD>410957.21000000</valUSD>
        <pctVal>0.039936267305</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHEMOMETEC A/S</name>
        <lei>213800533NBKECGONO68</lei>
        <title>CHEMOMETEC A/S DKK1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DK0060055861"/>
          <ticker value="CHEMM"/>
          <other otherDesc="SEDOL" value="B1KBGS9"/>
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        <balance>7560.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="6.53800000"/>
        <valUSD>418817.99000000</valUSD>
        <pctVal>0.040700167302</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ALFA FINANCIAL SOFTWARE HOLDINGS PLC</name>
        <lei>213800C5UOZHUTNUGA28</lei>
        <title>ALFA FINANCIAL SOFTWARE HOLDINGS PLC ORD GBP0.001</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BDHXPG30"/>
          <ticker value="ALFA"/>
          <other otherDesc="SEDOL" value="BDHXPG3"/>
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        <balance>304331.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>624465.09000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AUTOSPORTS GROUP LTD</name>
        <lei>N/A</lei>
        <title>AUTOSPORTS GROUP LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000ASG2"/>
          <ticker value="ASG"/>
          <other otherDesc="SEDOL" value="BZBHBJ0"/>
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        <balance>233024.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
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        <pctVal>0.027297863047</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</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>PLANISWARE SA</name>
        <lei>969500356FAUM2X41Q59</lei>
        <title>PLANISWARE SA EUR0.1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR001400PFU4"/>
          <ticker value="PLNW"/>
          <other otherDesc="SEDOL" value="BQLSWP3"/>
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        <balance>33852.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>703620.44000000</valUSD>
        <pctVal>0.068376885208</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>COBRAM ESTATE OLIVES LTD</name>
        <lei>9845009C0DEF11C8B496</lei>
        <title>COBRAM ESTATE OLIVES LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU0000167066"/>
          <ticker value="CBO"/>
          <other otherDesc="SEDOL" value="BKVC4C4"/>
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        <balance>217992.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
        <valUSD>664509.38000000</valUSD>
        <pctVal>0.064576125156</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SABRE INSURANCE GROUP PLC</name>
        <lei>2138006RXRQ8P8VKGV98</lei>
        <title>SABRE INSURANCE GROUP PLC ORD GBP0.001</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BYWVDP49"/>
          <ticker value="SBRE"/>
          <other otherDesc="SEDOL" value="BYWVDP4"/>
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        <balance>537184.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>1240580.06000000</valUSD>
        <pctVal>0.120557896746</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MITSUBOSHI BELTING LTD</name>
        <lei>894500XKIU25SIZKOI28</lei>
        <title>MITSUBOSHI BELTING LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3904000001"/>
          <ticker value="5192"/>
          <other otherDesc="SEDOL" value="6596989"/>
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        <balance>31400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>763144.13000000</valUSD>
        <pctVal>0.074161317107</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RYOBI LTD</name>
        <lei>N/A</lei>
        <title>RYOBI LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3975800008"/>
          <ticker value="5851"/>
          <other otherDesc="SEDOL" value="6762906"/>
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        <balance>8500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <pctVal>0.013188851347</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TOYOTA BOSHOKU CORP</name>
        <lei>529900KS87U6EY7PWG26</lei>
        <title>TOYOTA BOSHOKU CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3635400009"/>
          <ticker value="3116"/>
          <other otherDesc="SEDOL" value="6900591"/>
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        <balance>111500.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HAMMERSON PLC</name>
        <lei>213800G1C9KKVVDN1A60</lei>
        <title>HAMMERSON PLC ORD GBP0.05</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BRJQ8J25"/>
          <ticker value="HMSO"/>
          <other otherDesc="SEDOL" value="BRJQ8J2"/>
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        <balance>572132.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>2808119.77000000</valUSD>
        <pctVal>0.272889291227</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NORBIT ASA</name>
        <lei>254900C08RCMXVZYFY97</lei>
        <title>NORBIT ASA NOK0.10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NO0010856511"/>
          <ticker value="NORBT"/>
          <other otherDesc="SEDOL" value="BKBD1K4"/>
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        <balance>47539.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="9.89550000"/>
        <valUSD>812854.21000000</valUSD>
        <pctVal>0.078992075625</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BEGA CHEESE LTD</name>
        <lei>549300P1H1GM5BXPB476</lei>
        <title>BEGA CHEESE LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000BGA8"/>
          <ticker value="BGA"/>
          <other otherDesc="SEDOL" value="B56CQJ5"/>
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        <balance>202185.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
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        <pctVal>0.080039617753</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RIDLEY CORP LTD</name>
        <lei>549300UQM21UZW8DVW82</lei>
        <title>RIDLEY CORP LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000RIC6"/>
          <ticker value="RIC"/>
          <other otherDesc="SEDOL" value="6738929"/>
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        <balance>352909.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>POLAR CAPITAL HOLDINGS PLC</name>
        <lei>549300OXX7YE1947B825</lei>
        <title>POLAR CAPITAL HOLDINGS PLC ORD GBP0.025</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B1GCLT25"/>
          <ticker value="POLR"/>
          <other otherDesc="SEDOL" value="B1GCLT2"/>
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        <balance>193152.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>REIT AZORIM HF LIVING LTD</name>
        <lei>N/A</lei>
        <title>REIT AZORIM HF LIVING LTD ILS0.1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0011627754"/>
          <ticker value="AZRT"/>
          <other otherDesc="SEDOL" value="BKTW4D7"/>
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        <balance>0.40000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>VITASOY INTERNATIONAL HOLDINGS LTD</name>
        <lei>5493003LPGHN62KWIZ77</lei>
        <title>VITASOY INTERNATIONAL HOLDINGS LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="HK0345001611"/>
          <ticker value="345"/>
          <other otherDesc="SEDOL" value="6927590"/>
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        <balance>498000.00000000</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.84205000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NOTE AB</name>
        <lei>54930038JVQ3CMTEO084</lei>
        <title>NOTE AB NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0001161654"/>
          <ticker value="NOTE"/>
          <other otherDesc="SEDOL" value="B01GRL6"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ELIXIRR INTERNATIONAL PLC</name>
        <lei>213800MKY7OHMVAKW681</lei>
        <title>ELIXIRR INTERNATIONAL PLC ORD GBP0.00005</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BLPHTX84"/>
          <ticker value="ELIX"/>
          <other otherDesc="SEDOL" value="BLPHTX8"/>
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        <balance>48462.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AMP LTD</name>
        <lei>5299000D93LTLU0UJR35</lei>
        <title>AMP LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000AMP6"/>
          <ticker value="AMP"/>
          <other otherDesc="SEDOL" value="6709958"/>
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        <balance>1051757.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>REGAL PARTNERS LTD</name>
        <lei>21380053IWTO1FZTF831</lei>
        <title>REGAL PARTNERS LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU0000226300"/>
          <ticker value="RPL"/>
          <other otherDesc="SEDOL" value="BMFX892"/>
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        <balance>448378.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
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        <pctVal>0.086939178561</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</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>INABATA &amp; CO. LTD</name>
        <lei>N/A</lei>
        <title>INABATA &amp; CO. LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3146000009"/>
          <ticker value="8098"/>
          <other otherDesc="SEDOL" value="6461601"/>
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        <balance>37000.00000000</balance>
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        <valUSD>883310.26000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LEC INC</name>
        <lei>353800QEG7G3CQSZEA52</lei>
        <title>LEC INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3410800001"/>
          <ticker value="7874"/>
          <other otherDesc="SEDOL" value="6865270"/>
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        <balance>28400.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <pctVal>0.015707633550</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>F.W. THORPE PLC</name>
        <lei>2138007NXVPPRAXXHT76</lei>
        <title>F.W. THORPE PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BC9ZLX92"/>
          <ticker value="TFW"/>
          <other otherDesc="SEDOL" value="BC9ZLX9"/>
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        <balance>110433.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>370827.45000000</valUSD>
        <pctVal>0.036036511362</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ITO EN LTD</name>
        <lei>N/A</lei>
        <title>ITO EN LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3143000002"/>
          <ticker value="2593"/>
          <other otherDesc="SEDOL" value="6455789"/>
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        <balance>14900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>269671.44000000</valUSD>
        <pctVal>0.026206306765</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>YH DIMRI BUILDING &amp; DEVELOPMENT LTD</name>
        <lei>N/A</lei>
        <title>YH DIMRI BUILDING &amp; DEVELOPMENT LTD ILS1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0010903156"/>
          <ticker value="DIMRI"/>
          <other otherDesc="SEDOL" value="B02SX80"/>
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        <balance>6699.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="2.97945000"/>
        <valUSD>806501.64000000</valUSD>
        <pctVal>0.078374741442</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NOMURA MICRO SCIENCE COMPANY LTD</name>
        <lei>353800TK9TXKBPGJ2K14</lei>
        <title>NOMURA MICRO SCIENCE COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3762950008"/>
          <ticker value="6254"/>
          <other otherDesc="SEDOL" value="B248ZF3"/>
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        <balance>7300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>220987.54000000</valUSD>
        <pctVal>0.021475271035</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KATITAS CO LTD</name>
        <lei>N/A</lei>
        <title>KATITAS CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3932950003"/>
          <ticker value="8919"/>
          <other otherDesc="SEDOL" value="BF0QD69"/>
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        <balance>38500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <pctVal>0.076082168788</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HO BEE LAND LTD</name>
        <lei>213800ZLK1VGWKHRQV31</lei>
        <title>HO BEE LAND LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG1H41875896"/>
          <ticker value="HOBEE"/>
          <other otherDesc="SEDOL" value="6199355"/>
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        <balance>351400.00000000</balance>
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        <currencyConditional curCd="SGD" exchangeRt="1.29345000"/>
        <valUSD>554220.11000000</valUSD>
        <pctVal>0.053858362672</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ANYCOLOR INC</name>
        <lei>N/A</lei>
        <title>ANYCOLOR INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3164780003"/>
          <ticker value="5032"/>
          <other otherDesc="SEDOL" value="BP2QN78"/>
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        <balance>11000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>151607.45000000</valUSD>
        <pctVal>0.014733007479</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JEOL LTD</name>
        <lei>N/A</lei>
        <title>JEOL LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3735000006"/>
          <ticker value="6951"/>
          <other otherDesc="SEDOL" value="6470544"/>
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        <balance>12500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>572988.77000000</valUSD>
        <pctVal>0.055682275733</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CATENA AB</name>
        <lei>549300EMLM7AH5LDLY65</lei>
        <title>CATENA AB NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0001664707"/>
          <ticker value="CATE"/>
          <other otherDesc="SEDOL" value="B131GJ7"/>
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        <balance>27098.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.67815000"/>
        <valUSD>1165324.74000000</valUSD>
        <pctVal>0.113244686264</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DELTA GALIL INDUSTRIES LTD</name>
        <lei>213800THWVY4MIDWYH93</lei>
        <title>DELTA GALIL INDUSTRIES LTD ILS1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0006270347"/>
          <ticker value="DELG"/>
          <other otherDesc="SEDOL" value="6262020"/>
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        <balance>15001.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="2.97945000"/>
        <valUSD>821682.93000000</valUSD>
        <pctVal>0.079850038725</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="114480.18929679"/>
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      </invstOrSec>
      <invstOrSec>
        <name>DAI-DAN CO LTD</name>
        <lei>N/A</lei>
        <title>DAI-DAN CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3486000007"/>
          <ticker value="1980"/>
          <other otherDesc="SEDOL" value="6661735"/>
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        <balance>89400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>1579798.80000000</valUSD>
        <pctVal>0.153522716309</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CREATE SD HOLDINGS COMPANY LTD</name>
        <lei>N/A</lei>
        <title>CREATE SD HOLDINGS COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3269940007"/>
          <ticker value="3148"/>
          <other otherDesc="SEDOL" value="B3V2XQ2"/>
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        <balance>22100.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>441932.01000000</valUSD>
        <pctVal>0.042946356586</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CITY OF LONDON INVESTMENT GROUP PLC</name>
        <lei>549300BV85TFYXK2Y635</lei>
        <title>CITY OF LONDON INVESTMENT GROUP PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B104RS51"/>
          <ticker value="CLIG"/>
          <other otherDesc="SEDOL" value="B104RS5"/>
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        <balance>153231.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>911123.25000000</valUSD>
        <pctVal>0.088541728372</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GEO ENERGY RESOURCES LTD</name>
        <lei>254900KDTNYQVU0QS743</lei>
        <title>GEO ENERGY RESOURCES LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG2F24986083"/>
          <ticker value="GERL"/>
          <other otherDesc="SEDOL" value="B8QXRM9"/>
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        <balance>1318500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.29345000"/>
        <valUSD>474005.57000000</valUSD>
        <pctVal>0.046063221881</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BILIA AB</name>
        <lei>2138002GW5WN1UYZAO32</lei>
        <title>BILIA AB SER'A'NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0009921588"/>
          <ticker value="BILIA"/>
          <other otherDesc="SEDOL" value="BDVLJ38"/>
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        <balance>107892.00000000</balance>
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        <currencyConditional curCd="SEK" exchangeRt="9.67815000"/>
        <valUSD>1615344.96000000</valUSD>
        <pctVal>0.156977044188</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MEITAV TRADE INVESTMENTS LTD</name>
        <lei>N/A</lei>
        <title>MEITAV TRADE INVESTMENTS LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0012031816"/>
          <ticker value="MTRD"/>
          <other otherDesc="SEDOL" value="BRJYQ58"/>
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        <balance>69332.00000000</balance>
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        <currencyConditional curCd="ILS" exchangeRt="2.97945000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DERWENT LONDON PLC</name>
        <lei>213800BXKQ9KZNUR1M61</lei>
        <title>DERWENT LONDON PLC ORD GBP0.05</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0002652740"/>
          <ticker value="DLN"/>
          <other otherDesc="SEDOL" value="0265274"/>
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        <balance>99890.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>VALEO SE</name>
        <lei>5493006IH2N2WMIBB742</lei>
        <title>VALEO SE EUR1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0013176526"/>
          <ticker value="FR"/>
          <other otherDesc="SEDOL" value="BDC5ST8"/>
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        <balance>206588.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EL. EN. - ELECTRONIC ENGINEERING SPA</name>
        <lei>81560012F663E89E7085</lei>
        <title>EL. EN. - ELECTRONIC ENGINEERING SPA NPV (POST SPLIT)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IT0005453250"/>
          <ticker value="ELN"/>
          <other otherDesc="SEDOL" value="BMVFDR5"/>
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        <balance>43501.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>848971.28000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PENTA-OCEAN CONSTRUCTION CO LTD</name>
        <lei>529900QN42Q9UIW3AS17</lei>
        <title>PENTA-OCEAN CONSTRUCTION CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3309000002"/>
          <ticker value="1893"/>
          <other otherDesc="SEDOL" value="6680804"/>
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        <balance>88100.00000000</balance>
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        <valUSD>920706.66000000</valUSD>
        <pctVal>0.089473031228</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SEVEN BANK LTD</name>
        <lei>353800WMG1NLGHB7B594</lei>
        <title>SEVEN BANK LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3105220002"/>
          <ticker value="8410"/>
          <other otherDesc="SEDOL" value="B2NT8S1"/>
        </identifiers>
        <balance>674300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>1167500.51000000</valUSD>
        <pctVal>0.113456124658</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHUGOKU MARINE PAINTS LTD</name>
        <lei>N/A</lei>
        <title>CHUGOKU MARINE PAINTS LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3522600000"/>
          <ticker value="4617"/>
          <other otherDesc="SEDOL" value="6196000"/>
        </identifiers>
        <balance>34800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>708740.19000000</valUSD>
        <pctVal>0.068874415607</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA AVIATION OIL (SINGAPORE) CORP LTD</name>
        <lei>79GWRL7CPDKLUJ3L0772</lei>
        <title>CHINA AVIATION OIL (SINGAPORE) CORP LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG1T06929205"/>
          <ticker value="CAO"/>
          <other otherDesc="SEDOL" value="B10SYQ4"/>
        </identifiers>
        <balance>860900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.29345000"/>
        <valUSD>1218019.25000000</valUSD>
        <pctVal>0.118365467664</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EAGLE INDUSTRY CO LTD</name>
        <lei>N/A</lei>
        <title>EAGLE INDUSTRY CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3130400009"/>
          <ticker value="6486"/>
          <other otherDesc="SEDOL" value="6296706"/>
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        <balance>26900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>471712.04000000</valUSD>
        <pctVal>0.045840339729</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GENUS PLC</name>
        <lei>54930022EOITNKSIGH56</lei>
        <title>GENUS PLC ORD GBP0.10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0002074580"/>
          <ticker value="GNS"/>
          <other otherDesc="SEDOL" value="0207458"/>
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        <balance>22420.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>639178.80000000</valUSD>
        <pctVal>0.062114533561</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SHIN NIPPON AIR TECNOLOGIES CO LTD</name>
        <lei>N/A</lei>
        <title>SHIN NIPPON AIR TECNOLOGIES CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3380250005"/>
          <ticker value="1952"/>
          <other otherDesc="SEDOL" value="6805920"/>
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        <balance>24400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>562990.31000000</valUSD>
        <pctVal>0.054710638878</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="103830.17997375"/>
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      </invstOrSec>
      <invstOrSec>
        <name>AURA INVESTMENTS LTD</name>
        <lei>N/A</lei>
        <title>AURA INVESTMENTS LTD ILS1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0003730194"/>
          <ticker value="AURA"/>
          <other otherDesc="SEDOL" value="6060310"/>
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        <balance>72485.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="2.97945000"/>
        <valUSD>447884.29000000</valUSD>
        <pctVal>0.043524791127</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="335908.58379935"/>
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      </invstOrSec>
      <invstOrSec>
        <name>MYSTATE LTD</name>
        <lei>N/A</lei>
        <title>MYSTATE LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000MYS0"/>
          <ticker value="MYS"/>
          <other otherDesc="SEDOL" value="B41XHK4"/>
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        <balance>252018.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
        <valUSD>799659.17000000</valUSD>
        <pctVal>0.077709799437</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AUSSIE BROADBAND LTD</name>
        <lei>98450090EAD3778B9832</lei>
        <title>AUSSIE BROADBAND LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU0000106643"/>
          <ticker value="ABB"/>
          <other otherDesc="SEDOL" value="BM8HZC3"/>
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        <balance>157804.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
        <valUSD>538980.20000000</valUSD>
        <pctVal>0.052377368777</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OKINAWA FINANCIAL GROUP INC</name>
        <lei>N/A</lei>
        <title>OKINAWA FINANCIAL GROUP INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3194750000"/>
          <ticker value="7350"/>
          <other otherDesc="SEDOL" value="BMT97H7"/>
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        <balance>5500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>214890.02000000</valUSD>
        <pctVal>0.020882722267</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MTG CO LTD</name>
        <lei>N/A</lei>
        <title>MTG CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3167430002"/>
          <ticker value="7806"/>
          <other otherDesc="SEDOL" value="BG1VQG1"/>
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        <balance>4700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>215732.96000000</valUSD>
        <pctVal>0.020964638039</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SAVILLS PLC</name>
        <lei>213800WXICGMBWHTA933</lei>
        <title>SAVILLS PLC ORD GBP0.025</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B135BJ46"/>
          <ticker value="SVS"/>
          <other otherDesc="SEDOL" value="B135BJ4"/>
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        <balance>98278.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>1113952.47000000</valUSD>
        <pctVal>0.108252398365</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HOKURIKU ELECTRIC POWER COMPANY</name>
        <lei>353800Z4ZNGBULYR8W57</lei>
        <title>HOKURIKU ELECTRIC POWER COMPANY NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3845400005"/>
          <ticker value="9505"/>
          <other otherDesc="SEDOL" value="6433127"/>
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        <balance>46700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>249727.55000000</valUSD>
        <pctVal>0.024268186438</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ASANUMA CORP</name>
        <lei>N/A</lei>
        <title>ASANUMA CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3110000001"/>
          <ticker value="1852"/>
          <other otherDesc="SEDOL" value="6055907"/>
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        <balance>107100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>553539.46000000</valUSD>
        <pctVal>0.053792218024</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ESSENTRA PLC</name>
        <lei>5493007MOZNA03BVNE96</lei>
        <title>ESSENTRA PLC ORD GBP0.25</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B0744359"/>
          <ticker value="ESNT"/>
          <other otherDesc="SEDOL" value="B074435"/>
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        <balance>302270.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>320548.91000000</valUSD>
        <pctVal>0.031150510668</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SERVICE STREAM LTD</name>
        <lei>254900BGR8Y25CRN1892</lei>
        <title>SERVICE STREAM LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000SSM2"/>
          <ticker value="SSM"/>
          <other otherDesc="SEDOL" value="B04KLG8"/>
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        <balance>636240.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
        <valUSD>1168085.75000000</valUSD>
        <pctVal>0.113512997492</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ORORA LTD</name>
        <lei>549300WFEQJK35VDF789</lei>
        <title>ORORA LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000ORA8"/>
          <ticker value="ORA"/>
          <other otherDesc="SEDOL" value="BH4TCW7"/>
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        <balance>1331930.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
        <valUSD>1278024.14000000</valUSD>
        <pctVal>0.124196661930</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</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>
      <invstOrSec>
        <name>LOGISTEA AB</name>
        <lei>549300ZSB0ZCKM1SL747</lei>
        <title>LOGISTEA AB SER'B'NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0017131337"/>
          <ticker value="LOGIB"/>
          <other otherDesc="SEDOL" value="BPG98P6"/>
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        <balance>257905.00000000</balance>
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        <currencyConditional curCd="SEK" exchangeRt="9.67815000"/>
        <valUSD>354953.64000000</valUSD>
        <pctVal>0.034493915919</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SUN-WA TECHNOS CORP</name>
        <lei>N/A</lei>
        <title>SUN-WA TECHNOS CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3345400000"/>
          <ticker value="8137"/>
          <other otherDesc="SEDOL" value="6985156"/>
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        <balance>3700.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>82981.08000000</valUSD>
        <pctVal>0.008063989416</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SAN-AI OBBLI CO LTD</name>
        <lei>N/A</lei>
        <title>SAN-AI OBBLI CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3323600001"/>
          <ticker value="8097"/>
          <other otherDesc="SEDOL" value="6772808"/>
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        <balance>52200.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>671269.04000000</valUSD>
        <pctVal>0.065233019796</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NOS SGPS SA</name>
        <lei>5493004DM8FGIY6QKF37</lei>
        <title>NOS SGPS SA EUR 0.50</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="PTZON0AM0006"/>
          <ticker value="NOS"/>
          <other otherDesc="SEDOL" value="B0B9GS5"/>
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        <balance>897066.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>5174230.90000000</valUSD>
        <pctVal>0.502824779067</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HOCHSCHILD MINING PLC</name>
        <lei>549300JK10TVQ3CCJQ89</lei>
        <title>HOCHSCHILD MINING PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B1FW5029"/>
          <ticker value="HOC"/>
          <other otherDesc="SEDOL" value="B1FW502"/>
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        <balance>131418.00000000</balance>
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        <valUSD>806887.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>TASMEA LTD</name>
        <lei>N/A</lei>
        <title>TASMEA LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="AU0000326191"/>
          <ticker value="TEA"/>
          <other otherDesc="SEDOL" value="BRSCC77"/>
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        <balance>251993.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>RAYSEARCH LABORATORIES AB</name>
        <lei>549300TYFVYGS0JFWM28</lei>
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        <identifiers>
          <isin value="SE0000135485"/>
          <ticker value="RAYB"/>
          <other otherDesc="SEDOL" value="7591239"/>
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        <balance>20311.00000000</balance>
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        <valUSD>461701.87000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>COMET HOLDING AG</name>
        <lei>506700PGOL747J76WC96</lei>
        <title>COMET HOLDING AG CHF1 (REGD)</title>
        <cusip>000000000</cusip>
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          <isin value="CH0360826991"/>
          <ticker value="COTN"/>
          <other otherDesc="SEDOL" value="BD376K0"/>
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        <balance>2273.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>KLN LOGISTICS GROUP LTD</name>
        <lei>254900G739TFTQCVKO70</lei>
        <title>KLN LOGISTICS GROUP LTD HKD0.5</title>
        <cusip>000000000</cusip>
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          <isin value="BMG524181036"/>
          <ticker value="636"/>
          <other otherDesc="SEDOL" value="BH0W286"/>
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        <balance>1409000.00000000</balance>
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        <pctVal>0.095857168132</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RAI WAY SPA</name>
        <lei>815600303CCB3CFD2264</lei>
        <title>RAI WAY SPA NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IT0005054967"/>
          <ticker value="RWAY"/>
          <other otherDesc="SEDOL" value="BSM8WL2"/>
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        <balance>385961.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LA HOLDINGS CO LTD</name>
        <lei>N/A</lei>
        <title>LA HOLDINGS CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3968300008"/>
          <ticker value="2986"/>
          <other otherDesc="SEDOL" value="BKPN531"/>
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        <balance>22200.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ARYT INDUSTRIES LTD</name>
        <lei>N/A</lei>
        <title>ARYT INDUSTRIES LTD ILS0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0005870147"/>
          <ticker value="ARYT"/>
          <other otherDesc="SEDOL" value="6049740"/>
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        <balance>33485.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KID ASA</name>
        <lei>5967007LIEEXZXH53K17</lei>
        <title>KID ASA NOK1.20</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NO0010743545"/>
          <ticker value="KID"/>
          <other otherDesc="SEDOL" value="BYPK5G3"/>
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        <balance>62646.00000000</balance>
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        <currencyConditional curCd="NOK" exchangeRt="9.89550000"/>
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        <pctVal>0.073456595022</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ARE HOLDINGS INC</name>
        <lei>353800W25FCOFE32EM73</lei>
        <title>ARE HOLDINGS INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3116700000"/>
          <ticker value="5857"/>
          <other otherDesc="SEDOL" value="B60DQZ7"/>
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        <balance>37400.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>VOSSLOH AG</name>
        <lei>5299003HAEOUVX3HWX43</lei>
        <title>VOSSLOH AG NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE0007667107"/>
          <ticker value="VOS"/>
          <other otherDesc="SEDOL" value="5092336"/>
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        <balance>8530.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LOVISA HOLDINGS LTD</name>
        <lei>549300R4Y8GURIO5MN11</lei>
        <title>LOVISA HOLDINGS LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000LOV7"/>
          <ticker value="LOV"/>
          <other otherDesc="SEDOL" value="BT9PVP0"/>
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        <balance>73578.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LEROY SEAFOOD GROUP ASA</name>
        <lei>5967007LIEEXZXJ2JK50</lei>
        <title>LEROY SEAFOOD GROUP ASA NOK0.10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NO0003096208"/>
          <ticker value="LSG"/>
          <other otherDesc="SEDOL" value="4691916"/>
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        <balance>579413.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DAIWABO HOLDINGS COMPANY LTD</name>
        <lei>N/A</lei>
        <title>DAIWABO HOLDINGS COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3505400006"/>
          <ticker value="3107"/>
          <other otherDesc="SEDOL" value="6251426"/>
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        <balance>41800.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CRANEWARE PLC</name>
        <lei>213800O2CTJ1YFXNXG05</lei>
        <title>CRANEWARE PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
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          <isin value="GB00B2425G68"/>
          <ticker value="CRW"/>
          <other otherDesc="SEDOL" value="B2425G6"/>
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        <balance>23106.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PUUILO OYJ</name>
        <lei>743700UJUT6FWHBXPR69</lei>
        <title>PUUILO OYJ NPV</title>
        <cusip>000000000</cusip>
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          <isin value="FI4000507124"/>
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          <other otherDesc="SEDOL" value="BL979V2"/>
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        <assetCat>EC</assetCat>
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        <invCountry>FI</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>WAKITA &amp; COMPANY LTD</name>
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        <title>WAKITA &amp; COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3992000004"/>
          <ticker value="8125"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>LISI SA</name>
        <lei>969500UU4O58BR802Y55</lei>
        <title>LISI SA EUR0.40</title>
        <cusip>000000000</cusip>
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          <isin value="FR0000050353"/>
          <ticker value="FII"/>
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        <assetCat>EC</assetCat>
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        <invCountry>FR</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HYSAN DEVELOPMENT CO LTD</name>
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        <title>HYSAN DEVELOPMENT CO LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="HK0014000126"/>
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        <invCountry>HK</invCountry>
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      <invstOrSec>
        <name>MONTEA NV</name>
        <lei>5493006K5LQDD0GK1T60</lei>
        <title>MONTEA NV NPV</title>
        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>BE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>KEPPEL INFRASTRUCTURE TRUST</name>
        <lei>254900BF7L1ZCMAZS467</lei>
        <title>KEPPEL INFRASTRUCTURE TRUST WEF 2015</title>
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          <ticker value="KIT"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>C. UYEMURA &amp; COMPANY LTD</name>
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        <title>C. UYEMURA &amp; COMPANY LTD NPV</title>
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          <isin value="JP3155350006"/>
          <ticker value="4966"/>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HOKKAIDO GAS CO LTD</name>
        <lei>N/A</lei>
        <title>HOKKAIDO GAS CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3847000001"/>
          <ticker value="9534"/>
          <other otherDesc="SEDOL" value="6431347"/>
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        <balance>81200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <pctVal>0.036608173523</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BTG CONSULTING PLC</name>
        <lei>21380075TB4ROF7KWK30</lei>
        <title>BTG CONSULTING PLC ORD GBP0.05</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B0305S97"/>
          <ticker value="BTG"/>
          <other otherDesc="SEDOL" value="B0305S9"/>
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        <balance>513926.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>787834.61000000</valUSD>
        <pctVal>0.076560704647</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MOONPIG GROUP PLC</name>
        <lei>213800VAYO5KCAXZHK83</lei>
        <title>MOONPIG GROUP PLC ORD GBP0.1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BMT9K014"/>
          <ticker value="MOON"/>
          <other otherDesc="SEDOL" value="BMT9K01"/>
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        <balance>183486.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>583014.77000000</valUSD>
        <pctVal>0.056656588889</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ICHIGO INC</name>
        <lei>N/A</lei>
        <title>ICHIGO INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3120010008"/>
          <ticker value="2337"/>
          <other otherDesc="SEDOL" value="6549767"/>
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        <balance>147000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <pctVal>0.038674143055</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DEXERIALS CORP</name>
        <lei>N/A</lei>
        <title>DEXERIALS CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3548770001"/>
          <ticker value="4980"/>
          <other otherDesc="SEDOL" value="BYP97J7"/>
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        <balance>63600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>1664694.05000000</valUSD>
        <pctVal>0.161772722185</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HUSQVARNA AB</name>
        <lei>549300GYQIIJ3UXB7655</lei>
        <title>HUSQVARNA AB SER'B'NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0001662230"/>
          <ticker value="HUSQB"/>
          <other otherDesc="SEDOL" value="B12PJ24"/>
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        <balance>228403.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.67815000"/>
        <valUSD>891130.77000000</valUSD>
        <pctVal>0.086598886135</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="585235.81469798"/>
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      </invstOrSec>
      <invstOrSec>
        <name>SHIKOKU ELECTRIC POWER COMPANY INC</name>
        <lei>353800KWK6U7ZCIWXS64</lei>
        <title>SHIKOKU ELECTRIC POWER COMPANY INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3350800003"/>
          <ticker value="9507"/>
          <other otherDesc="SEDOL" value="6804347"/>
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        <balance>88200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>797748.04000000</valUSD>
        <pctVal>0.077524078402</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TOKAI CARBON CO LTD</name>
        <lei>5299002HKWA5B57KLT43</lei>
        <title>TOKAI CARBON CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3560800009"/>
          <ticker value="5301"/>
          <other otherDesc="SEDOL" value="6894003"/>
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        <balance>72600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>765868.02000000</valUSD>
        <pctVal>0.074426021063</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NSD COMPANY LTD</name>
        <lei>N/A</lei>
        <title>NSD COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3712600000"/>
          <ticker value="9759"/>
          <other otherDesc="SEDOL" value="6639602"/>
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        <balance>43000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>652176.59000000</valUSD>
        <pctVal>0.063377641260</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DREAM INTERNATIONAL LTD</name>
        <lei>984500F7E5EE7MCF8192</lei>
        <title>DREAM INTERNATIONAL LTD USD0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="HK1126010854"/>
          <ticker value="1126"/>
          <other otherDesc="SEDOL" value="6444497"/>
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        <balance>1207000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84205000"/>
        <valUSD>988126.83000000</valUSD>
        <pctVal>0.096024832402</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RATIO ENERGIES LP</name>
        <lei>984500B54B3D0958E560</lei>
        <title>RATIO ENERGIES LP ILS1 (LIMITED PARTNERSHIP)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0003940157"/>
          <ticker value="RATI"/>
          <other otherDesc="SEDOL" value="6721725"/>
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        <balance>1040232.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="2.97945000"/>
        <valUSD>1501282.99000000</valUSD>
        <pctVal>0.145892655808</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1075020.92668213"/>
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      <invstOrSec>
        <name>FIRST RESOURCES LTD</name>
        <lei>5493007RRD817HUP4O49</lei>
        <title>FIRST RESOURCES LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG1W35938974"/>
          <ticker value="FR"/>
          <other otherDesc="SEDOL" value="B2927P4"/>
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        <balance>1927400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.29345000"/>
        <valUSD>4634283.51000000</valUSD>
        <pctVal>0.450353420071</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ARNOLDO MONDADORI EDITORE SPA</name>
        <lei>815600049A1F9AFE6666</lei>
        <title>ARNOLDO MONDADORI EDITORE SPA EUR0.26</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IT0001469383"/>
          <ticker value="MN"/>
          <other otherDesc="SEDOL" value="4084895"/>
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        <balance>423502.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>975642.60000000</valUSD>
        <pctVal>0.094811631772</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PALFINGER AG</name>
        <lei>529900IFAV83BX8O1O91</lei>
        <title>PALFINGER AG NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AT0000758305"/>
          <ticker value="PAL"/>
          <other otherDesc="SEDOL" value="5700350"/>
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        <balance>24503.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>892254.89000000</valUSD>
        <pctVal>0.086708126600</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HYAKUGO BANK LTD (THE)</name>
        <lei>549300BYCCERC5EKUX15</lei>
        <title>HYAKUGO BANK LTD (THE) NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3793800008"/>
          <ticker value="8368"/>
          <other otherDesc="SEDOL" value="6659666"/>
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        <balance>80600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>981433.01000000</valUSD>
        <pctVal>0.095374336004</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PHARMA MAR SA</name>
        <lei>959800QWKZ45ZQC2AV58</lei>
        <title>PHARMA MAR SA EUR0.6 POST CONSOLIDATION</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="ES0169501022"/>
          <ticker value="PHM"/>
          <other otherDesc="SEDOL" value="BMW2GT8"/>
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        <balance>6697.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
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        <pctVal>0.056139772415</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HUFVUDSTADEN AB</name>
        <lei>213800UEV5ZAFFVQ4J85</lei>
        <title>HUFVUDSTADEN AB SER'A'NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0000170375"/>
          <ticker value="HUFVA"/>
          <other otherDesc="SEDOL" value="4449137"/>
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        <balance>93207.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.67815000"/>
        <valUSD>1151827.28000000</valUSD>
        <pctVal>0.111933021309</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ZEHNDER GROUP AG</name>
        <lei>8945000LUWFSSFRPU761</lei>
        <title>ZEHNDER GROUP AG CHF0.05 (REGD) 'A'</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CH0276534614"/>
          <ticker value="ZEHN"/>
          <other otherDesc="SEDOL" value="BWX5Y69"/>
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        <balance>6930.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.80665000"/>
        <valUSD>536083.80000000</valUSD>
        <pctVal>0.052095900532</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FOOD EMPIRE HOLDINGS LTD</name>
        <lei>N/A</lei>
        <title>FOOD EMPIRE HOLDINGS LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG1I44882534"/>
          <ticker value="FEH"/>
          <other otherDesc="SEDOL" value="6241546"/>
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        <balance>680640.00000000</balance>
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        <currencyConditional curCd="SGD" exchangeRt="1.29345000"/>
        <valUSD>1247142.76000000</valUSD>
        <pctVal>0.121195651079</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CURRYS PLC</name>
        <lei>2138001E12GWLLDQQF16</lei>
        <title>CURRYS PLC ORD GBP0.001</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B4Y7R145"/>
          <ticker value="CURY"/>
          <other otherDesc="SEDOL" value="B4Y7R14"/>
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        <balance>354133.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>750156.31000000</valUSD>
        <pctVal>0.072899178280</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AZTECH GLOBAL LTD</name>
        <lei>N/A</lei>
        <title>AZTECH GLOBAL LTD NPV ORD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SGXE54866863"/>
          <ticker value="AZTECH"/>
          <other otherDesc="SEDOL" value="BMFZSZ4"/>
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        <balance>1576600.00000000</balance>
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        <currencyConditional curCd="SGD" exchangeRt="1.29345000"/>
        <valUSD>1066546.83000000</valUSD>
        <pctVal>0.103645582217</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MAYTRONICS LTD</name>
        <lei>N/A</lei>
        <title>MAYTRONICS LTD ILS0.1</title>
        <cusip>000000000</cusip>
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          <isin value="IL0010910656"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>CAIRN HOMES PLC</name>
        <lei>635400DPX6WP2KKDOA83</lei>
        <title>CAIRN HOMES PLC ORD EUR0.001</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE00BWY4ZF18"/>
          <ticker value="C5H"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIZEN WATCH CO LTD</name>
        <lei>529900DUZBKERKGQ2628</lei>
        <title>CITIZEN WATCH CO LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3352400000"/>
          <ticker value="7762"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>MITSUBISHI MATERIALS CORP</name>
        <lei>35380076QOBOSOUBRT89</lei>
        <title>MITSUBISHI MATERIALS CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3903000002"/>
          <ticker value="5711"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SEIKO GROUP CORP</name>
        <lei>529900UXKCNCMYX20S74</lei>
        <title>SEIKO GROUP CORP NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3414700009"/>
          <ticker value="8050"/>
          <other otherDesc="SEDOL" value="6414809"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>TERVEYSTALO OYJ</name>
        <lei>7437001AEZHLL3UEX093</lei>
        <title>TERVEYSTALO OYJ NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FI4000252127"/>
          <ticker value="TTALO"/>
          <other otherDesc="SEDOL" value="BF2F6Q5"/>
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        <balance>130976.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>FI</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TOKAI RIKA CO LTD</name>
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        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3566600007"/>
          <ticker value="6995"/>
          <other otherDesc="SEDOL" value="6894025"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AI HOLDINGS CORP</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3105090009"/>
          <ticker value="3076"/>
          <other otherDesc="SEDOL" value="B1TK201"/>
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        <balance>33100.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RENEW HOLDINGS PLC</name>
        <lei>213800O3DC3V4WYA2E09</lei>
        <title>RENEW HOLDINGS PLC ORD GBP0.10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0005359004"/>
          <ticker value="RNWH"/>
          <other otherDesc="SEDOL" value="0535900"/>
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        <balance>52496.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AQ GROUP AB</name>
        <lei>549300CN568MD1JD3E40</lei>
        <title>AQ GROUP AB NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0022062196"/>
          <ticker value="AQ"/>
          <other otherDesc="SEDOL" value="BSD4GW8"/>
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        <balance>35860.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WACOAL HOLDINGS CORP</name>
        <lei>3538002U6NJ8QTW6VR34</lei>
        <title>WACOAL HOLDINGS CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3992400006"/>
          <ticker value="3591"/>
          <other otherDesc="SEDOL" value="6932204"/>
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        <balance>13500.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PROACT IT GROUP AB</name>
        <lei>549300HMPIC1B86ZHC96</lei>
        <title>PROACT IT GROUP AB NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SE0015961222"/>
          <ticker value="PACT"/>
          <other otherDesc="SEDOL" value="BMXVCK7"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>DENTSU SOKEN INC</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
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          <isin value="JP3551530003"/>
          <ticker value="4812"/>
          <other otherDesc="SEDOL" value="6295974"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>GENUIT GROUP PLC</name>
        <lei>2138005IF1N2RKJ6KO18</lei>
        <title>GENUIT GROUP PLC ORD GBP0.001</title>
        <cusip>000000000</cusip>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>JUPITER FUND MANAGEMENT PLC</name>
        <lei>5493003DJ1G01IMQ7S28</lei>
        <title>JUPITER FUND MANAGEMENT PLC ORD GBP0.02</title>
        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HAFNIA LTD</name>
        <lei>5493001KCFT0SCGJ2647</lei>
        <title>HAFNIA LTD USD0.01</title>
        <cusip>000000000</cusip>
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          <other otherDesc="SEDOL" value="BSY3S84"/>
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        <assetCat>EC</assetCat>
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        <invCountry>SG</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>REGIS RESOURCES LTD</name>
        <lei>213800XH9YUXBLYBD749</lei>
        <title>REGIS RESOURCES LTD NPV</title>
        <cusip>000000000</cusip>
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          <ticker value="RRL"/>
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        <assetCat>EC</assetCat>
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        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SAN-IN GODO BANK LTD (THE)</name>
        <lei>353800I3C5900CEME762</lei>
        <title>SAN-IN GODO BANK LTD (THE) NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3324000003"/>
          <ticker value="8381"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>KUSURI NO AOKI HOLDINGS CO LTD</name>
        <lei>N/A</lei>
        <title>KUSURI NO AOKI HOLDINGS CO LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3266190002"/>
          <ticker value="3549"/>
          <other otherDesc="SEDOL" value="BYX8TV2"/>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>RESTORE PLC</name>
        <lei>213800CE3EOGYML9AY08</lei>
        <title>RESTORE PLC GBP GBP0.05</title>
        <cusip>000000000</cusip>
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          <isin value="GB00B5NR1S72"/>
          <ticker value="RST"/>
          <other otherDesc="SEDOL" value="B5NR1S7"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MOLTIPLY GROUP SPA</name>
        <lei>8156004E40D6A02C5046</lei>
        <title>MOLTIPLY GROUP SPA NPV</title>
        <cusip>000000000</cusip>
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          <ticker value="MOL"/>
          <other otherDesc="SEDOL" value="B1Y6V63"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>PAZ RETAIL AND ENERGY LTD</name>
        <lei>N/A</lei>
        <title>PAZ RETAIL AND ENERGY LTD ILS5</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0011000077"/>
          <ticker value="PAZ"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FERRARI GROUP PLC</name>
        <lei>984500Y7F9EB3DRC4406</lei>
        <title>FERRARI GROUP PLC ORD EUR1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BN0VZ646"/>
          <ticker value="FERGR"/>
          <other otherDesc="SEDOL" value="BN0VZ64"/>
        </identifiers>
        <balance>109439.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>894619.57000000</valUSD>
        <pctVal>0.086937923012</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MUSASHINO BANK LTD (THE)</name>
        <lei>353800L8RJMVN2OOS612</lei>
        <title>MUSASHINO BANK LTD (THE) NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3912800004"/>
          <ticker value="8336"/>
          <other otherDesc="SEDOL" value="6611440"/>
        </identifiers>
        <balance>54200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>838053.22000000</valUSD>
        <pctVal>0.081440881425</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RVRC HOLDING AB</name>
        <lei>549300YU7003VHQV3J57</lei>
        <title>RVRC HOLDING AB NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0015962485"/>
          <ticker value="RVRC"/>
          <other otherDesc="SEDOL" value="BMCR1W1"/>
        </identifiers>
        <balance>98396.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.67815000"/>
        <valUSD>573408.60000000</valUSD>
        <pctVal>0.055723074246</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TOA CORP (TOKYO)</name>
        <lei>353800AT816JCLZ5WD63</lei>
        <title>TOA CORP (TOKYO) NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3556000002"/>
          <ticker value="1885"/>
          <other otherDesc="SEDOL" value="6894508"/>
        </identifiers>
        <balance>107200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>1366012.61000000</valUSD>
        <pctVal>0.132747262753</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ESPRINET SPA</name>
        <lei>8156007E3375956ADD08</lei>
        <title>ESPRINET SPA EUR0.15</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IT0003850929"/>
          <ticker value="PRT"/>
          <other otherDesc="SEDOL" value="B08QZ48"/>
        </identifiers>
        <balance>105407.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>809236.96000000</valUSD>
        <pctVal>0.078640556150</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BASIC NET SPA</name>
        <lei>8156008E82BF2BFE0A35</lei>
        <title>BASIC NET SPA NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IT0001033700"/>
          <ticker value="BAN"/>
          <other otherDesc="SEDOL" value="5815265"/>
        </identifiers>
        <balance>57579.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>462785.43000000</valUSD>
        <pctVal>0.044972863811</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="48015.42540483"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STOLT-NIELSEN LTD</name>
        <lei>213800VZX4LWJSGRLR94</lei>
        <title>STOLT-NIELSEN LTD USD1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG850801025"/>
          <ticker value="SNI"/>
          <other otherDesc="SEDOL" value="B4PKZG3"/>
        </identifiers>
        <balance>87506.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="9.89550000"/>
        <valUSD>2577737.25000000</valUSD>
        <pctVal>0.250501028708</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JOHNSON SERVICE GROUP PLC</name>
        <lei>2138004WZUPWV53KWV11</lei>
        <title>JOHNSON SERVICE GROUP PLC ORD GBP0.10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0004762810"/>
          <ticker value="JSG"/>
          <other otherDesc="SEDOL" value="0476281"/>
        </identifiers>
        <balance>375051.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>820351.58000000</valUSD>
        <pctVal>0.079720659928</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KS HOLDINGS CORP</name>
        <lei>3538003LJ09YLR6NHG27</lei>
        <title>KS HOLDINGS CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3277150003"/>
          <ticker value="8282"/>
          <other otherDesc="SEDOL" value="6484277"/>
        </identifiers>
        <balance>68200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>799600.68000000</valUSD>
        <pctVal>0.077704115458</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DAIO PAPER CORP</name>
        <lei>353800VL9DQ781ZR1G70</lei>
        <title>DAIO PAPER CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3440400004"/>
          <ticker value="3880"/>
          <other otherDesc="SEDOL" value="6870898"/>
        </identifiers>
        <balance>36900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>208651.59000000</valUSD>
        <pctVal>0.020276480055</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AKTIA BANK PLC</name>
        <lei>743700GC62JLHFBUND16</lei>
        <title>AKTIA BANK PLC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FI4000058870"/>
          <ticker value="AKTIA"/>
          <other otherDesc="SEDOL" value="BBVJ5R4"/>
        </identifiers>
        <balance>100711.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>1298811.86000000</valUSD>
        <pctVal>0.126216784518</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KSH HOLDINGS LTD</name>
        <lei>529900Q9UANFD74MQK18</lei>
        <title>KSH HOLDINGS LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG1W44939146"/>
          <ticker value="KSHH"/>
          <other otherDesc="SEDOL" value="B1QH443"/>
        </identifiers>
        <balance>1562000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.29345000"/>
        <valUSD>374363.14000000</valUSD>
        <pctVal>0.036380104946</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KANEKA CORP</name>
        <lei>529900FWWCF6RY313R16</lei>
        <title>KANEKA CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3215800008"/>
          <ticker value="4118"/>
          <other otherDesc="SEDOL" value="6483360"/>
        </identifiers>
        <balance>33500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>1174277.80000000</valUSD>
        <pctVal>0.114114732558</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SMARTGROUP CORP LTD</name>
        <lei>254900GHFZAMQGOYO431</lei>
        <title>SMARTGROUP CORP LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000SIQ4"/>
          <ticker value="SIQ"/>
          <other otherDesc="SEDOL" value="BNB5WS6"/>
        </identifiers>
        <balance>216205.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
        <valUSD>1915773.50000000</valUSD>
        <pctVal>0.186172284441</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOHMI BOSAI LTD</name>
        <lei>353800GLN5G6LQ5TQ132</lei>
        <title>NOHMI BOSAI LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3759800000"/>
          <ticker value="6744"/>
          <other otherDesc="SEDOL" value="6643681"/>
        </identifiers>
        <balance>35400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>890853.71000000</valUSD>
        <pctVal>0.086571961818</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COMFORTDELGRO CORP LTD</name>
        <lei>2549005O5PVA2JCH6Q33</lei>
        <title>COMFORTDELGRO CORP LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG1N31909426"/>
          <ticker value="CD"/>
          <other otherDesc="SEDOL" value="6603737"/>
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        <balance>2266000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.29345000"/>
        <valUSD>2347551.12000000</valUSD>
        <pctVal>0.228131851105</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="581088.31419920"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CVS GROUP PLC</name>
        <lei>213800J41XDQ2NX48O05</lei>
        <title>CVS GROUP PLC ORD GBP0.002</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B2863827"/>
          <ticker value="CVSG"/>
          <other otherDesc="SEDOL" value="B286382"/>
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        <balance>27871.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>433913.38000000</valUSD>
        <pctVal>0.042167116939</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ATEA ASA</name>
        <lei>5967007LIEEXZXINVS13</lei>
        <title>ATEA ASA NOK1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NO0004822503"/>
          <ticker value="ATEA"/>
          <other otherDesc="SEDOL" value="B12TR11"/>
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        <balance>116893.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="9.89550000"/>
        <valUSD>2041242.02000000</valUSD>
        <pctVal>0.198365145964</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MADER GROUP LTD</name>
        <lei>N/A</lei>
        <title>MADER GROUP LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU0000056269"/>
          <ticker value="MAD"/>
          <other otherDesc="SEDOL" value="BHNG8Z4"/>
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        <balance>93164.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
        <valUSD>511188.64000000</valUSD>
        <pctVal>0.049676622465</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PERSONAL GROUP HOLDINGS PLC</name>
        <lei>213800TN8BH2YYWAH345</lei>
        <title>PERSONAL GROUP HOLDINGS PLC ORD GBP0.05</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0002760279"/>
          <ticker value="PGH"/>
          <other otherDesc="SEDOL" value="0276027"/>
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        <balance>104696.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>534987.09000000</valUSD>
        <pctVal>0.051989323733</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMOTIV LTD</name>
        <lei>254900KHH5GGEGUIZS22</lei>
        <title>AMOTIV LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU0000340770"/>
          <ticker value="AOV"/>
          <other otherDesc="SEDOL" value="BQH8HH4"/>
        </identifiers>
        <balance>161596.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
        <valUSD>705308.37000000</valUSD>
        <pctVal>0.068540915968</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UBE CORP</name>
        <lei>529900XMRZ2VNF3ZPS69</lei>
        <title>UBE CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3158800007"/>
          <ticker value="4208"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>APAC REALTY LTD</name>
        <lei>N/A</lei>
        <title>APAC REALTY LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SG1DJ0000001"/>
          <ticker value="APAC"/>
          <other otherDesc="SEDOL" value="BF1H554"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>SG</invCountry>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>ELECTRA CONSUMER PRODUCTS (1970) LTD</name>
        <lei>N/A</lei>
        <title>ELECTRA CONSUMER PRODUCTS (1970) LTD ILS1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0050101299"/>
          <ticker value="ECP"/>
          <other otherDesc="SEDOL" value="B536CY7"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CKD CORP</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
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          <isin value="JP3346800000"/>
          <ticker value="6407"/>
          <other otherDesc="SEDOL" value="6160050"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FERROTEC CORP</name>
        <lei>3538005N4KWZD4R07U97</lei>
        <title>FERROTEC CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3802720007"/>
          <ticker value="6890"/>
          <other otherDesc="SEDOL" value="6354273"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PERENTI LTD</name>
        <lei>25490044GUNE4S2E6K11</lei>
        <title>PERENTI LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU0000061897"/>
          <ticker value="PRN"/>
          <other otherDesc="SEDOL" value="BKRKNV4"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ILUKA RESOURCES LTD</name>
        <lei>2549009N2Y1F4YNB0955</lei>
        <title>ILUKA RESOURCES LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000ILU1"/>
          <ticker value="ILU"/>
          <other otherDesc="SEDOL" value="6957575"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PLUXEE NV</name>
        <lei>213800RQNIQT48SEEO85</lei>
        <title>PLUXEE NV EUR0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL0015001W49"/>
          <ticker value="PLX"/>
          <other otherDesc="SEDOL" value="BPK85C5"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MABUCHI MOTOR CO LTD</name>
        <lei>N/A</lei>
        <title>MABUCHI MOTOR CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3870000001"/>
          <ticker value="6592"/>
          <other otherDesc="SEDOL" value="6551030"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RENGO CO LTD</name>
        <lei>N/A</lei>
        <title>RENGO CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3981400009"/>
          <ticker value="3941"/>
          <other otherDesc="SEDOL" value="6732200"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DURATEC LTD</name>
        <lei>984500585DA5E5BD0678</lei>
        <title>DURATEC LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="AU0000109159"/>
          <ticker value="DUR"/>
          <other otherDesc="SEDOL" value="BKS9J23"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AUB GROUP LTD</name>
        <lei>5493005X7SUBQF3OEG82</lei>
        <title>AUB GROUP LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000AUB9"/>
          <ticker value="AUB"/>
          <other otherDesc="SEDOL" value="B0MBNC3"/>
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        <balance>71199.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AICA KOGYO CO LTD</name>
        <lei>353800I589BKZAOJD116</lei>
        <title>AICA KOGYO CO LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3100800006"/>
          <ticker value="4206"/>
          <other otherDesc="SEDOL" value="6010047"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WACKER NEUSON SE</name>
        <lei>529900RJL86244E1I652</lei>
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        <cusip>000000000</cusip>
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          <isin value="DE000WACK012"/>
          <ticker value="WAC"/>
          <other otherDesc="SEDOL" value="B17R248"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>DE</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>GAROFALO HEALTH CARE SPA</name>
        <lei>815600C851C90CAE6438</lei>
        <title>GAROFALO HEALTH CARE SPA NPV</title>
        <cusip>000000000</cusip>
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          <isin value="IT0005345233"/>
          <ticker value="GHC"/>
          <other otherDesc="SEDOL" value="BG36158"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KYUSHU FINANCIAL GROUP INC</name>
        <lei>549300960TB5ID0J6819</lei>
        <title>KYUSHU FINANCIAL GROUP INC NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3246500007"/>
          <ticker value="7180"/>
          <other otherDesc="SEDOL" value="BYZ5XN1"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>GR ENGINEERING SERVICES LTD</name>
        <lei>N/A</lei>
        <title>GR ENGINEERING SERVICES LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000GNG0"/>
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        <fairValLevel>1</fairValLevel>
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        <name>TOKYU CONSTRUCTION COMPANY LTD (NEW)</name>
        <lei>529900AF5X5AZCMDF192</lei>
        <title>TOKYU CONSTRUCTION COMPANY LTD (NEW) NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3567410000"/>
          <ticker value="1720"/>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MOTORCYCLE HOLDINGS LTD</name>
        <lei>N/A</lei>
        <title>MOTORCYCLE HOLDINGS LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000MTO9"/>
          <ticker value="MTO"/>
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        <assetCat>EC</assetCat>
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        <invCountry>AU</invCountry>
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      <invstOrSec>
        <name>DMG MORI CO LTD</name>
        <lei>353800P4I3FIXTQV2E13</lei>
        <title>DMG MORI CO LTD NPV</title>
        <cusip>000000000</cusip>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SAFESTORE HOLDINGS PLC</name>
        <lei>213800WGA3YSJC1YOH73</lei>
        <title>SAFESTORE HOLDINGS PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>BORREGAARD ASA</name>
        <lei>5967007LIEEXZXGYXC05</lei>
        <title>BORREGAARD ASA NOK1</title>
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        <pctVal>0.077805545675</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CARD FACTORY PLC</name>
        <lei>213800TTSOPFVCKPFQ11</lei>
        <title>CARD FACTORY PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BLY2F708"/>
          <ticker value="CARD"/>
          <other otherDesc="SEDOL" value="BLY2F70"/>
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        <balance>595461.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>530308.17000000</valUSD>
        <pctVal>0.051534632599</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SOTETSU HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>SOTETSU HOLDINGS INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3316400005"/>
          <ticker value="9003"/>
          <other otherDesc="SEDOL" value="6767202"/>
        </identifiers>
        <balance>32600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>498452.55000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>LUK FOOK HOLDINGS (INTERNATIONAL) LTD</name>
        <lei>529900U7PECBLERIIX44</lei>
        <title>LUK FOOK HOLDINGS (INTERNATIONAL) LTD HKD0.10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG5695X1258"/>
          <ticker value="590"/>
          <other otherDesc="SEDOL" value="6536156"/>
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        <balance>552000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84205000"/>
        <valUSD>1558429.24000000</valUSD>
        <pctVal>0.151446051295</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SIMS LTD</name>
        <lei>5493002YM7ZHVDMFC916</lei>
        <title>SIMS LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000SGM7"/>
          <ticker value="SGM"/>
          <other otherDesc="SEDOL" value="B0LCW75"/>
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        <balance>92735.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
        <valUSD>1770642.05000000</valUSD>
        <pctVal>0.172068605906</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</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>TP ICAP GROUP PLC</name>
        <lei>2138006YAA7IRVKKGE63</lei>
        <title>TP ICAP GROUP PLC ORD GBP0.25</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JE00BMDZN391"/>
          <ticker value="TCAP"/>
          <other otherDesc="SEDOL" value="BMDZN39"/>
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        <balance>887766.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>3987322.30000000</valUSD>
        <pctVal>0.387482602403</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AOKI HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>AOKI HOLDINGS INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3105400000"/>
          <ticker value="8214"/>
          <other otherDesc="SEDOL" value="6045759"/>
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        <balance>97100.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MULTICONSULT ASA</name>
        <lei>5967007LIEEXZXG9GO07</lei>
        <title>MULTICONSULT ASA NOK0.50</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NO0010734338"/>
          <ticker value="MULTI"/>
          <other otherDesc="SEDOL" value="BWWBXN8"/>
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        <balance>45540.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="9.89550000"/>
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        <pctVal>0.064847636476</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GRUPO EMPRESARIAL SAN JOSE SA</name>
        <lei>9598002SMUBZZBE58976</lei>
        <title>GRUPO EMPRESARIAL SAN JOSE SA EUR0.03</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="ES0180918015"/>
          <ticker value="GSJ"/>
          <other otherDesc="SEDOL" value="B3NQ9K8"/>
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        <balance>74614.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>761784.30000000</valUSD>
        <pctVal>0.074029170662</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ALIMAK GROUP AB</name>
        <lei>549300LC2ER06GDV6565</lei>
        <title>ALIMAK GROUP AB NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0007158910"/>
          <ticker value="ALIG"/>
          <other otherDesc="SEDOL" value="BZ0Y0T5"/>
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        <balance>72496.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.67815000"/>
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        <pctVal>0.086478670313</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JAPAN INVESTMENT ADVISER CO LTD</name>
        <lei>N/A</lei>
        <title>JAPAN INVESTMENT ADVISER CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3389470000"/>
          <ticker value="7172"/>
          <other otherDesc="SEDOL" value="BQ25C20"/>
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        <balance>25700.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>321477.31000000</valUSD>
        <pctVal>0.031240731328</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PRAEMIUM LTD</name>
        <lei>529900VN8NJ2AI2EDC32</lei>
        <title>PRAEMIUM LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000PPS1"/>
          <ticker value="PPS"/>
          <other otherDesc="SEDOL" value="B13YTQ4"/>
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        <balance>894461.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
        <valUSD>418285.75000000</valUSD>
        <pctVal>0.040648444937</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AF GRUPPEN ASA</name>
        <lei>5967007LIEEXZXFU1405</lei>
        <title>AF GRUPPEN ASA ORD NOK0.05</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NO0003078107"/>
          <ticker value="AFG"/>
          <other otherDesc="SEDOL" value="5714771"/>
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        <balance>57769.00000000</balance>
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        <currencyConditional curCd="NOK" exchangeRt="9.89550000"/>
        <valUSD>1129051.04000000</valUSD>
        <pctVal>0.109719657030</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AS ONE CORP</name>
        <lei>N/A</lei>
        <title>AS ONE CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3131300000"/>
          <ticker value="7476"/>
          <other otherDesc="SEDOL" value="6480929"/>
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        <balance>22000.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>KNIGHTS GROUP HOLDINGS PLC</name>
        <lei>213800URB59EOGJKT919</lei>
        <title>KNIGHTS GROUP HOLDINGS PLC ORD GBP0.002</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BFYF6298"/>
          <ticker value="KGH"/>
          <other otherDesc="SEDOL" value="BFYF629"/>
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        <balance>197777.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>492186.32000000</valUSD>
        <pctVal>0.047830002641</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CSE GLOBAL LTD</name>
        <lei>549300CNUGIB5L3RNJ48</lei>
        <title>CSE GLOBAL LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG1G47869290"/>
          <ticker value="CSE"/>
          <other otherDesc="SEDOL" value="6143998"/>
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        <balance>1399673.00000000</balance>
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        <currencyConditional curCd="SGD" exchangeRt="1.29345000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Y.D. MORE INVESTMENTS LTD</name>
        <lei>8945002CZNG0EZOGOI09</lei>
        <title>Y.D. MORE INVESTMENTS LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="IL0011414641"/>
          <ticker value="MRIN"/>
          <other otherDesc="SEDOL" value="BDFCKF6"/>
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        <balance>80406.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TEIKOKU CORP</name>
        <lei>N/A</lei>
        <title>TEIKOKU CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3541800003"/>
          <ticker value="6333"/>
          <other otherDesc="SEDOL" value="6155829"/>
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        <balance>12500.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PETER WARREN AUTOMOTIVE HOLDINGS LTD</name>
        <lei>N/A</lei>
        <title>PETER WARREN AUTOMOTIVE HOLDINGS LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU0000143711"/>
          <ticker value="PWR"/>
          <other otherDesc="SEDOL" value="BN4MWX9"/>
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        <balance>373986.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BERGMAN &amp; BEVING AB</name>
        <lei>549300RC0HUZSJYJO751</lei>
        <title>BERGMAN &amp; BEVING AB SER'B'NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SE0000101362"/>
          <ticker value="BERGB"/>
          <other otherDesc="SEDOL" value="4093437"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GAV-YAM LANDS CORP LTD</name>
        <lei>N/A</lei>
        <title>GAV-YAM LANDS CORP LTD ILS0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0007590198"/>
          <ticker value="GVYM"/>
          <other otherDesc="SEDOL" value="6089724"/>
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        <balance>123543.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RAISIO PLC</name>
        <lei>74370083282NHIP4QD02</lei>
        <title>RAISIO PLC SER'V'NPV(CNV)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FI0009002943"/>
          <ticker value="RAIVV"/>
          <other otherDesc="SEDOL" value="5446632"/>
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        <balance>206023.00000000</balance>
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        <valUSD>601820.33000000</valUSD>
        <pctVal>0.058484087842</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HEIWA REAL ESTATE CO LTD</name>
        <lei>N/A</lei>
        <title>HEIWA REAL ESTATE CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3834800009"/>
          <ticker value="8803"/>
          <other otherDesc="SEDOL" value="6419600"/>
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        <balance>34400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <pctVal>0.049529691260</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</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>SENIOR PLC</name>
        <lei>5493002HQHWN5JQHKQ51</lei>
        <title>SENIOR PLC GBP0.10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0007958233"/>
          <ticker value="SNR"/>
          <other otherDesc="SEDOL" value="0795823"/>
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        <balance>224973.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>859954.29000000</valUSD>
        <pctVal>0.083569197864</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</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>HIROGIN HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>HIROGIN HOLDINGS INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3796150005"/>
          <ticker value="7337"/>
          <other otherDesc="SEDOL" value="BJK6DZ6"/>
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        <balance>160200.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <pctVal>0.200964194817</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HAVAS NV</name>
        <lei>894500L53AVOFQK7T710</lei>
        <title>HAVAS NV EUR2 (POST CONS)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL0015002K83"/>
          <ticker value="HAVAS"/>
          <other otherDesc="SEDOL" value="BVD9FN8"/>
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        <balance>112689.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>2196676.71000000</valUSD>
        <pctVal>0.213470079464</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SAKAI MOVING SERVICE COMPANY LTD</name>
        <lei>N/A</lei>
        <title>SAKAI MOVING SERVICE COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3314200001"/>
          <ticker value="9039"/>
          <other otherDesc="SEDOL" value="6768432"/>
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        <balance>22800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>408092.29000000</valUSD>
        <pctVal>0.039657858244</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KLAVENESS COMBINATION CARRIERS ASA</name>
        <lei>213800ZFB2MQM3JA6K52</lei>
        <title>KLAVENESS COMBINATION CARRIERS ASA NOK1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NO0010833262"/>
          <ticker value="KCC"/>
          <other otherDesc="SEDOL" value="BGR6L09"/>
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        <balance>118617.00000000</balance>
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        <currencyConditional curCd="NOK" exchangeRt="9.89550000"/>
        <valUSD>1045263.24000000</valUSD>
        <pctVal>0.101577271652</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>KALMAR OYJ</name>
        <lei>636700Z25ZQXLMZ3CY73</lei>
        <title>KALMAR OYJ SER'B'NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FI4000571054"/>
          <ticker value="KALMAR"/>
          <other otherDesc="SEDOL" value="BT19600"/>
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        <balance>47530.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
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        <pctVal>0.202887961857</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BYTES TECHNOLOGY GROUP PLC</name>
        <lei>213800LA4DZLFBAC9O33</lei>
        <title>BYTES TECHNOLOGY GROUP PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BMH18Q19"/>
          <ticker value="BYIT"/>
          <other otherDesc="SEDOL" value="BMH18Q1"/>
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        <balance>255624.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>1282466.14000000</valUSD>
        <pctVal>0.124628329498</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NP3 FASTIGHETER AB</name>
        <lei>549300MGVITW8GYJHZ50</lei>
        <title>NP3 FASTIGHETER AB NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0006342333"/>
          <ticker value="NP3"/>
          <other otherDesc="SEDOL" value="BT6SSF1"/>
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        <balance>32928.00000000</balance>
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        <currencyConditional curCd="SEK" exchangeRt="9.67815000"/>
        <valUSD>906713.78000000</valUSD>
        <pctVal>0.088113222026</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NETLINK NBN TRUST</name>
        <lei>25490032IBVZHHXJIM98</lei>
        <title>NETLINK NBN TRUST UNITS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG1DH9000006"/>
          <ticker value="NETLINK"/>
          <other otherDesc="SEDOL" value="BF5GLW6"/>
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        <balance>3970500.00000000</balance>
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        <currencyConditional curCd="SGD" exchangeRt="1.29345000"/>
        <valUSD>2992954.89000000</valUSD>
        <pctVal>0.290851318854</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EXEO GROUP INC</name>
        <lei>N/A</lei>
        <title>EXEO GROUP INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3254200003"/>
          <ticker value="1951"/>
          <other otherDesc="SEDOL" value="6499420"/>
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        <balance>146600.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CROMWELL PROPERTY GROUP LTD</name>
        <lei>N/A</lei>
        <title>CROMWELL PROPERTY GROUP LTD NPV (STAPLED UNITS)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000CMW8"/>
          <ticker value="CMW"/>
          <other otherDesc="SEDOL" value="6225476"/>
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        <balance>3836763.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FUJI SEAL INTERNATIONAL INC</name>
        <lei>N/A</lei>
        <title>FUJI SEAL INTERNATIONAL INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3813800004"/>
          <ticker value="7864"/>
          <other otherDesc="SEDOL" value="6083704"/>
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        <balance>34200.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RORZE CORP</name>
        <lei>529900ORJHC47686AS71</lei>
        <title>RORZE CORP NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3982200002"/>
          <ticker value="6323"/>
          <other otherDesc="SEDOL" value="6096650"/>
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        <balance>21200.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SEINO HOLDINGS COMPANY LTD</name>
        <lei>3538001D12EPCPYTTF24</lei>
        <title>SEINO HOLDINGS COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3415400005"/>
          <ticker value="9076"/>
          <other otherDesc="SEDOL" value="6793423"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FORESIGHT GROUP HOLDINGS LTD</name>
        <lei>213800NNT42FFIZB1T09</lei>
        <title>FORESIGHT GROUP HOLDINGS LTD ORD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="GG00BMD8MJ76"/>
          <ticker value="FSG"/>
          <other otherDesc="SEDOL" value="BMD8MJ7"/>
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        <assetCat>EC</assetCat>
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        <invCountry>GG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>OUTOKUMPU OYJ</name>
        <lei>5493009YRUJJDCFF0R80</lei>
        <title>OUTOKUMPU OYJ SER'A'NPV</title>
        <cusip>000000000</cusip>
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          <isin value="FI0009002422"/>
          <ticker value="OUT1V"/>
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        <assetCat>EC</assetCat>
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        <invCountry>FI</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ADAIRS LTD</name>
        <lei>529900HLMXKO4QLZNW81</lei>
        <title>ADAIRS LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000ADH2"/>
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          <other otherDesc="SEDOL" value="BYYT7Q5"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TOMY CO LTD</name>
        <lei>N/A</lei>
        <title>TOMY CO LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3630550006"/>
          <ticker value="7867"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SHO-BOND HOLDINGS COMPANY LTD</name>
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        <title>SHO-BOND HOLDINGS COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3360250009"/>
          <ticker value="1414"/>
          <other otherDesc="SEDOL" value="B29T1W0"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MIPS AB</name>
        <lei>549300LZSA4S0L54VQ25</lei>
        <title>MIPS AB NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SE0009216278"/>
          <ticker value="MIPS"/>
          <other otherDesc="SEDOL" value="BF2CVV6"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>TAG IMMOBILIEN AG</name>
        <lei>529900TAE68USJNXLR59</lei>
        <title>TAG IMMOBILIEN AG NPV</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>FIRSTGROUP PLC</name>
        <lei>549300DEJZCPWA4HKM93</lei>
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        <cusip>000000000</cusip>
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          <isin value="GB0003452173"/>
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      <invstOrSec>
        <name>NEW WAVE GROUP AB</name>
        <lei>5493006EIYZZYQILKS31</lei>
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          <isin value="SE0020356970"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CAFE DE CORAL HOLDINGS LTD</name>
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          <isin value="BMG1744V1037"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TOKYO SEIMITSU CO LTD</name>
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          <isin value="JP3580200008"/>
          <ticker value="7729"/>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>STARTS CORP INC</name>
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          <isin value="JP3399200009"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ONE SOFTWARE TECHNOLOGIES LTD</name>
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          <isin value="IL0001610182"/>
          <ticker value="ONE"/>
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        <invCountry>IL</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>JAMES HALSTEAD PLC</name>
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          <isin value="GB00B0LS8535"/>
          <ticker value="JHD"/>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MITSUI-SOKO HOLDING CO LTD</name>
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          <isin value="JP3891200002"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CTT CORREIOS DE PORTUGAL SA</name>
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        <invCountry>PT</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>JUSTSYSTEMS CORP</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CHUGOKU ELECTRIC POWER COMPANY INC</name>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>TORIDOLL HOLDINGS CORP</name>
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        <fairValLevel>1</fairValLevel>
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        <name>ISRAEL CANADA TR LTD</name>
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        <name>TELEVISION FRANCAISE 1 SA</name>
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        <name>MITSUI DM SUGAR CO LTD</name>
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        <name>SANKI ENGINEERING CO LTD</name>
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        <name>YAMAGUCHI FINANCIAL GROUP INC</name>
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        <name>COATS GROUP PLC</name>
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        <name>BODYCOTE PLC</name>
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        <name>OUE LTD</name>
        <lei>254900MR17VBF15G0543</lei>
        <title>OUE LTD NPV</title>
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      <invstOrSec>
        <name>KYB CORP</name>
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        <title>KYB CORP NPV</title>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NANKAI CO LTD</name>
        <lei>N/A</lei>
        <title>NANKAI CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3653000004"/>
          <ticker value="9044"/>
          <other otherDesc="SEDOL" value="6621472"/>
        </identifiers>
        <balance>24300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>425147.21000000</valUSD>
        <pctVal>0.041315232364</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>H2O RETAILING CORP</name>
        <lei>N/A</lei>
        <title>H2O RETAILING CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3774600005"/>
          <ticker value="8242"/>
          <other otherDesc="SEDOL" value="6408705"/>
        </identifiers>
        <balance>32100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>563786.80000000</valUSD>
        <pctVal>0.054788040702</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RIKEN VITAMIN CO LTD</name>
        <lei>N/A</lei>
        <title>RIKEN VITAMIN CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3972600005"/>
          <ticker value="4526"/>
          <other otherDesc="SEDOL" value="6739944"/>
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        <balance>27700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>521532.07000000</valUSD>
        <pctVal>0.050681783040</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KAINOS GROUP PLC (THE)</name>
        <lei>213800H2PQMIF3OVZY47</lei>
        <title>KAINOS GROUP PLC (THE) ORD GBP0.005</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BZ0D6727"/>
          <ticker value="KNOS"/>
          <other otherDesc="SEDOL" value="BZ0D672"/>
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        <balance>81554.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>830219.85000000</valUSD>
        <pctVal>0.080679645095</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ALZCHEM GROUP AG</name>
        <lei>8945004EL7WZK3ERG181</lei>
        <title>ALZCHEM GROUP AG NPV (POST SPLIT)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE000A2YNT30"/>
          <ticker value="ACT"/>
          <other otherDesc="SEDOL" value="BKFHT86"/>
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        <balance>4278.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>849084.16000000</valUSD>
        <pctVal>0.082512853294</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TAIKISHA LTD</name>
        <lei>3538005OOQOUE7DBWV52</lei>
        <title>TAIKISHA LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3441200007"/>
          <ticker value="1979"/>
          <other otherDesc="SEDOL" value="6869959"/>
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        <balance>25900.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>791222.89000000</valUSD>
        <pctVal>0.076889973127</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNIVERSAL STORE HOLDINGS LTD</name>
        <lei>N/A</lei>
        <title>UNIVERSAL STORE HOLDINGS LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU0000113565"/>
          <ticker value="UNI"/>
          <other otherDesc="SEDOL" value="BMCK9H1"/>
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        <balance>136382.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
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        <pctVal>0.071435715412</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <loanByFundCondition isLoanByFund="Y" loanVal="735091.41496100"/>
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      </invstOrSec>
      <invstOrSec>
        <name>WERELDHAVE NV</name>
        <lei>724500YRQCY3BD9RJZ92</lei>
        <title>WERELDHAVE NV EUR1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL0000289213"/>
          <ticker value="WHA"/>
          <other otherDesc="SEDOL" value="4948623"/>
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        <balance>98853.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>2249071.01000000</valUSD>
        <pctVal>0.218561686860</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Q &amp; M DENTAL GROUP (S) LTD</name>
        <lei>N/A</lei>
        <title>Q &amp; M DENTAL GROUP (S) LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG2E73981531"/>
          <ticker value="QNM"/>
          <other otherDesc="SEDOL" value="B8BXJQ2"/>
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        <balance>1471400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.29345000"/>
        <valUSD>625667.79000000</valUSD>
        <pctVal>0.060801551835</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ARB CORP LTD</name>
        <lei>98450097B6B8GE0BAE73</lei>
        <title>ARB CORP LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000ARB5"/>
          <ticker value="ARB"/>
          <other otherDesc="SEDOL" value="BWV03W5"/>
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        <balance>37534.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
        <valUSD>491987.27000000</valUSD>
        <pctVal>0.047810659230</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DAIICHI JITSUGYO CO LTD</name>
        <lei>N/A</lei>
        <title>DAIICHI JITSUGYO CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3475800003"/>
          <ticker value="8059"/>
          <other otherDesc="SEDOL" value="6250188"/>
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        <balance>6000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>112598.06000000</valUSD>
        <pctVal>0.010942127581</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ELOPAK ASA</name>
        <lei>529900BIDQN2AOKV6N08</lei>
        <title>ELOPAK ASA NOK1.40</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NO0011002586"/>
          <ticker value="ELO"/>
          <other otherDesc="SEDOL" value="BMCQVP1"/>
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        <balance>223492.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="9.89550000"/>
        <valUSD>793870.32000000</valUSD>
        <pctVal>0.077147246803</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FIDUCIAN GROUP LTD</name>
        <lei>N/A</lei>
        <title>FIDUCIAN GROUP LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000FID9"/>
          <ticker value="FID"/>
          <other otherDesc="SEDOL" value="BVFMGM1"/>
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        <balance>72856.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
        <valUSD>429034.42000000</valUSD>
        <pctVal>0.041692986188</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MLP SE</name>
        <lei>529900M25NF9TALIWQ20</lei>
        <title>MLP SE NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE0006569908"/>
          <ticker value="MLP"/>
          <other otherDesc="SEDOL" value="5720273"/>
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        <balance>125508.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>1048936.08000000</valUSD>
        <pctVal>0.101934193288</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SYNSAM AB</name>
        <lei>5493000TMEGW9DHNOQ70</lei>
        <title>SYNSAM AB NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0016829709"/>
          <ticker value="SYNSAM"/>
          <other otherDesc="SEDOL" value="BP4DDM2"/>
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        <balance>133200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.67815000"/>
        <valUSD>743199.89000000</valUSD>
        <pctVal>0.072223162768</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</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>ARIAKE JAPAN CO LTD</name>
        <lei>353800PBX8D0J0H60M72</lei>
        <title>ARIAKE JAPAN CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3125800007"/>
          <ticker value="2815"/>
          <other otherDesc="SEDOL" value="6049632"/>
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        <balance>8200.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>253277.96000000</valUSD>
        <pctVal>0.024613210492</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BISALLOY STEEL GROUP LTD</name>
        <lei>N/A</lei>
        <title>BISALLOY STEEL GROUP LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000BIS6"/>
          <ticker value="BIS"/>
          <other otherDesc="SEDOL" value="6622680"/>
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        <balance>150712.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
        <valUSD>464639.07000000</valUSD>
        <pctVal>0.045152998046</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DIC CORP</name>
        <lei>549300F1YB9ARLPUKB67</lei>
        <title>DIC CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3493400000"/>
          <ticker value="4631"/>
          <other otherDesc="SEDOL" value="6250821"/>
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        <balance>36900.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <pctVal>0.106170209716</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</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>CLARKSON PLC</name>
        <lei>2138007G6BGTEHI3OT22</lei>
        <title>CLARKSON PLC ORD GBP0.25</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0002018363"/>
          <ticker value="CKN"/>
          <other otherDesc="SEDOL" value="0201836"/>
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        <balance>22672.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>1253607.49000000</valUSD>
        <pctVal>0.121823884820</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SAN JU SAN FINANCIAL GROUP INC</name>
        <lei>N/A</lei>
        <title>SAN JU SAN FINANCIAL GROUP INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3333500001"/>
          <ticker value="7322"/>
          <other otherDesc="SEDOL" value="BFX06B4"/>
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        <balance>51400.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>543965.54000000</valUSD>
        <pctVal>0.052861837393</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UMIOS CORP</name>
        <lei>529900HGXVKT576NWZ27</lei>
        <title>UMIOS CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3876600002"/>
          <ticker value="1333"/>
          <other otherDesc="SEDOL" value="BKGHM19"/>
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        <balance>72600.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>584284.26000000</valUSD>
        <pctVal>0.056779956214</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>COOR SERVICE MANAGEMENT HOLDING AB</name>
        <lei>529900TMO6717OKBSU69</lei>
        <title>COOR SERVICE MANAGEMENT HOLDING AB NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0007158829"/>
          <ticker value="COOR"/>
          <other otherDesc="SEDOL" value="BYZG7C1"/>
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        <balance>113240.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>WIHLBORGS FASTIGHETER AB</name>
        <lei>549300RC1YDJPITF8X06</lei>
        <title>WIHLBORGS FASTIGHETER AB NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0018012635"/>
          <ticker value="WIHL"/>
          <other otherDesc="SEDOL" value="BPMQMP9"/>
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        <balance>211686.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NISSIN FOODS CO LTD</name>
        <lei>353800BDH75N9VLV9Z07</lei>
        <title>NISSIN FOODS CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="HK0000376142"/>
          <ticker value="1475"/>
          <other otherDesc="SEDOL" value="BD2CBX4"/>
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        <balance>634000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ASHDOD REFINERY LTD</name>
        <lei>549300PCINY5ZLVLX226</lei>
        <title>ASHDOD REFINERY LTD ILS0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0011989105"/>
          <ticker value="ARF"/>
          <other otherDesc="SEDOL" value="BRCFJN7"/>
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        <balance>0.57000000</balance>
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        <currencyConditional curCd="ILS" exchangeRt="2.97945000"/>
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        <pctVal>0.000001877491</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</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>BEACH ENERGY LTD</name>
        <lei>8Q9PJD25OKTQT5FHUF40</lei>
        <title>BEACH ENERGY LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000BPT9"/>
          <ticker value="BPT"/>
          <other otherDesc="SEDOL" value="6088204"/>
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        <balance>3689008.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>POLA ORBIS HOLDINGS INC</name>
        <lei>353800E8OIV0XYBABS79</lei>
        <title>POLA ORBIS HOLDINGS INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3855900001"/>
          <ticker value="4927"/>
          <other otherDesc="SEDOL" value="B5N4QN8"/>
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        <balance>131500.00000000</balance>
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        <pctVal>0.099503554066</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SWCC CORP</name>
        <lei>353800A7RNYOC4KL4T49</lei>
        <title>SWCC CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3368400002"/>
          <ticker value="5805"/>
          <other otherDesc="SEDOL" value="6805481"/>
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        <balance>6400.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</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>BUNKA SHUTTER CO LTD</name>
        <lei>3538006KDHDR2E6VDJ47</lei>
        <title>BUNKA SHUTTER CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3831600006"/>
          <ticker value="5930"/>
          <other otherDesc="SEDOL" value="6152466"/>
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        <balance>37500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>442547.30000000</valUSD>
        <pctVal>0.043006149638</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KURABO INDUSTRIES LTD</name>
        <lei>N/A</lei>
        <title>KURABO INDUSTRIES LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3268800004"/>
          <ticker value="3106"/>
          <other otherDesc="SEDOL" value="6497651"/>
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        <balance>11995.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GRAINCORP LTD</name>
        <lei>529900XVBL825SSW9081</lei>
        <title>GRAINCORP LTD 'A'NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000GNC9"/>
          <ticker value="GNC"/>
          <other otherDesc="SEDOL" value="6102331"/>
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        <balance>240328.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LIFE CORP</name>
        <lei>N/A</lei>
        <title>LIFE CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3966600003"/>
          <ticker value="8194"/>
          <other otherDesc="SEDOL" value="6515821"/>
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        <balance>51900.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <pctVal>0.081832944805</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</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>MIZUNO CORP</name>
        <lei>353800HVH84K5YH37819</lei>
        <title>MIZUNO CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3905200006"/>
          <ticker value="8022"/>
          <other otherDesc="SEDOL" value="6597960"/>
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        <balance>18800.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>387509.61000000</valUSD>
        <pctVal>0.037657661167</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SISRAM MEDICAL LTD</name>
        <lei>N/A</lei>
        <title>SISRAM MEDICAL LTD ILS0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0011418113"/>
          <ticker value="1696"/>
          <other otherDesc="SEDOL" value="BD9G4P2"/>
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        <balance>736000.00000000</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.84205000"/>
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        <pctVal>0.020703554959</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AMANO CORP</name>
        <lei>N/A</lei>
        <title>AMANO CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3124400007"/>
          <ticker value="6436"/>
          <other otherDesc="SEDOL" value="6027304"/>
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        <balance>50500.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DANYA CEBUS LTD</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
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          <isin value="IL0011731374"/>
          <ticker value="DNYA"/>
          <other otherDesc="SEDOL" value="BNKHD79"/>
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        <balance>24503.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WIIT SPA</name>
        <lei>815600AB2BDB42BC0E81</lei>
        <title>WIIT SPA NPV</title>
        <cusip>000000000</cusip>
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          <isin value="IT0005440893"/>
          <ticker value="WIIT"/>
          <other otherDesc="SEDOL" value="BLPK799"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TOENEC CORP</name>
        <lei>N/A</lei>
        <title>TOENEC CORP NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3552230009"/>
          <ticker value="1946"/>
          <other otherDesc="SEDOL" value="6895620"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BILLERUD AB</name>
        <lei>549300YJUYJ9A24RXL71</lei>
        <title>BILLERUD AB NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SE0000862997"/>
          <ticker value="BILL"/>
          <other otherDesc="SEDOL" value="7240371"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MEGA OR HOLDINGS LTD</name>
        <lei>N/A</lei>
        <title>MEGA OR HOLDINGS LTD ILS1</title>
        <cusip>000000000</cusip>
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          <isin value="IL0011044885"/>
          <ticker value="MGOR"/>
          <other otherDesc="SEDOL" value="B2N78D0"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IL</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>FAGRON NV</name>
        <lei>549300TRKRUFK2RRG779</lei>
        <title>FAGRON NV NPV</title>
        <cusip>000000000</cusip>
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          <isin value="BE0003874915"/>
          <ticker value="FAGR"/>
          <other otherDesc="SEDOL" value="B281L72"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>KINEPOLIS GROUP NV</name>
        <lei>5493002BJQRO0S06F161</lei>
        <title>KINEPOLIS GROUP NV NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BE0974274061"/>
          <ticker value="KIN"/>
          <other otherDesc="SEDOL" value="BN3ZYS8"/>
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        <balance>12901.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>GUOCOLAND LTD</name>
        <lei>N/A</lei>
        <title>GUOCOLAND LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG1R95002270"/>
          <ticker value="GUOL"/>
          <other otherDesc="SEDOL" value="6786735"/>
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        <balance>710400.00000000</balance>
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        <valUSD>1169857.36000000</valUSD>
        <pctVal>0.113685160162</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DIP CORP</name>
        <lei>N/A</lei>
        <title>DIP CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3548640006"/>
          <ticker value="2379"/>
          <other otherDesc="SEDOL" value="6714071"/>
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        <balance>26500.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <pctVal>0.029535374277</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NIPPON DENKO CO LTD</name>
        <lei>3538004G9RTDJWY4O927</lei>
        <title>NIPPON DENKO CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3734600004"/>
          <ticker value="5563"/>
          <other otherDesc="SEDOL" value="6640369"/>
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        <balance>86200.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <pctVal>0.022369057101</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ASAHI KOGYOSHA CO LTD</name>
        <lei>N/A</lei>
        <title>ASAHI KOGYOSHA CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3112800002"/>
          <ticker value="1975"/>
          <other otherDesc="SEDOL" value="6055242"/>
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        <balance>13800.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</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>ADEKA CORP</name>
        <lei>N/A</lei>
        <title>ADEKA CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3114800000"/>
          <ticker value="4401"/>
          <other otherDesc="SEDOL" value="6054904"/>
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        <balance>77501.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>QUADIENT SA</name>
        <lei>549300K4W3A5ITOPTK67</lei>
        <title>QUADIENT SA EUR1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0000120560"/>
          <ticker value="QDT"/>
          <other otherDesc="SEDOL" value="5617096"/>
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        <balance>51366.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
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        <pctVal>0.067342441790</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MORE PROVIDENT FUNDS &amp; PENSION LTD</name>
        <lei>8945001Z4S0WYNZBSJ26</lei>
        <title>MORE PROVIDENT FUNDS &amp; PENSION LTD ILS0.1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0011843815"/>
          <ticker value="MPP"/>
          <other otherDesc="SEDOL" value="BMCDV07"/>
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        <balance>143109.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RUSTA AB</name>
        <lei>549300V512S3QMRNO618</lei>
        <title>RUSTA AB NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0020848356"/>
          <ticker value="RUSTA"/>
          <other otherDesc="SEDOL" value="BS85S97"/>
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        <balance>92052.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FURYU CORP</name>
        <lei>N/A</lei>
        <title>FURYU CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3826770004"/>
          <ticker value="6238"/>
          <other otherDesc="SEDOL" value="BYYHNF0"/>
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        <balance>21300.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <pctVal>0.017371793654</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BORUSSIA DORTMUND GMBH &amp; CO. KGAA</name>
        <lei>529900XO0YTOOKCLQB44</lei>
        <title>BORUSSIA DORTMUND GMBH &amp; CO. KGAA NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE0005493092"/>
          <ticker value="BVB"/>
          <other otherDesc="SEDOL" value="4627193"/>
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        <balance>102089.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
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        <pctVal>0.034027599303</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ALLEIMA AB</name>
        <lei>529900EBHTYGLA6PGP77</lei>
        <title>ALLEIMA AB NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0017615644"/>
          <ticker value="ALLEI"/>
          <other otherDesc="SEDOL" value="BMQ4ZX7"/>
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        <balance>172143.00000000</balance>
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        <currencyConditional curCd="SEK" exchangeRt="9.67815000"/>
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        <pctVal>0.153317420578</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>KANEMATSU CORP</name>
        <lei>353800N574WR0FX80I71</lei>
        <title>KANEMATSU CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3217100001"/>
          <ticker value="8020"/>
          <other otherDesc="SEDOL" value="6483467"/>
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        <balance>124400.00000000</balance>
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        <valUSD>1577914.78000000</valUSD>
        <pctVal>0.153339629787</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TESSENDERLO GROUP NV/SA</name>
        <lei>549300ZKLIF7RP6EH823</lei>
        <title>TESSENDERLO GROUP NV/SA NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BE0003555639"/>
          <ticker value="TESB"/>
          <other otherDesc="SEDOL" value="4884006"/>
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        <balance>41052.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HILAN LTD</name>
        <lei>N/A</lei>
        <title>HILAN LTD ILS1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0010846983"/>
          <ticker value="HLAN"/>
          <other otherDesc="SEDOL" value="6267230"/>
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        <balance>9923.00000000</balance>
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        <currencyConditional curCd="ILS" exchangeRt="2.97945000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>INTEA FASTIGHETER AB</name>
        <lei>549300KD3XGX3754UW61</lei>
        <title>INTEA FASTIGHETER AB NPV B</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0017072259"/>
          <ticker value="INTEAB"/>
          <other otherDesc="SEDOL" value="BQ3QQ53"/>
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        <balance>62370.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SANLORENZO SPA</name>
        <lei>8156006C71E895860132</lei>
        <title>SANLORENZO SPA NPV</title>
        <cusip>000000000</cusip>
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          <isin value="IT0003549422"/>
          <ticker value="SL"/>
          <other otherDesc="SEDOL" value="BKKCLZ7"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>IT</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>EDION CORP</name>
        <lei>353800697NBCW7EAHZ97</lei>
        <title>EDION CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3164470001"/>
          <ticker value="2730"/>
          <other otherDesc="SEDOL" value="6512714"/>
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        <balance>38200.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PAYPOINT PLC</name>
        <lei>5493004YKWI8U0GDD138</lei>
        <title>PAYPOINT PLC ORD GBP0.003611</title>
        <cusip>000000000</cusip>
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        <balance>91150.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PROPEL FUNERAL PARTNERS LTD</name>
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        <title>PROPEL FUNERAL PARTNERS LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000PFP8"/>
          <ticker value="PFP"/>
          <other otherDesc="SEDOL" value="BYWQNJ3"/>
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        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NAGARRO SE</name>
        <lei>9845008396BA67DA9B37</lei>
        <title>NAGARRO SE NPV</title>
        <cusip>000000000</cusip>
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          <isin value="DE000A3H2200"/>
          <ticker value="NA9"/>
          <other otherDesc="SEDOL" value="BMT6455"/>
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        <invCountry>DE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SOUTHERN CROSS ELECTRICAL ENGINEERING LTD</name>
        <lei>N/A</lei>
        <title>SOUTHERN CROSS ELECTRICAL ENGINEERING LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000SXE9"/>
          <ticker value="SXE"/>
          <other otherDesc="SEDOL" value="B296336"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KANAMOTO COMPANY LTD</name>
        <lei>N/A</lei>
        <title>KANAMOTO COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3215200001"/>
          <ticker value="9678"/>
          <other otherDesc="SEDOL" value="6482903"/>
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        <balance>12500.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ZOTEFOAMS PLC</name>
        <lei>213800B6P256B5XN8D32</lei>
        <title>ZOTEFOAMS PLC ORD GBP0.05</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0009896605"/>
          <ticker value="ZTF"/>
          <other otherDesc="SEDOL" value="0989660"/>
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        <balance>83598.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>488203.67000000</valUSD>
        <pctVal>0.047442974086</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>XEBIO HOLDINGS CO LTD</name>
        <lei>N/A</lei>
        <title>XEBIO HOLDINGS CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3428800001"/>
          <ticker value="8281"/>
          <other otherDesc="SEDOL" value="6984948"/>
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        <balance>44000.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>284805.41000000</valUSD>
        <pctVal>0.027677005554</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NORTH PACIFIC BANK LTD</name>
        <lei>549300A1ZLTL4KX3DZ92</lei>
        <title>NORTH PACIFIC BANK LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3843400007"/>
          <ticker value="8524"/>
          <other otherDesc="SEDOL" value="B7VKZP7"/>
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        <balance>151900.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <pctVal>0.101179762380</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NCC AB</name>
        <lei>213800WRGLW3CY4MHW53</lei>
        <title>NCC AB SER'B'NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0000117970"/>
          <ticker value="NCCB"/>
          <other otherDesc="SEDOL" value="4645742"/>
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        <balance>109111.00000000</balance>
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        <currencyConditional curCd="SEK" exchangeRt="9.67815000"/>
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        <pctVal>0.208928528499</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</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>HOUSE FOODS GROUP INC</name>
        <lei>N/A</lei>
        <title>HOUSE FOODS GROUP INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3765400001"/>
          <ticker value="2810"/>
          <other otherDesc="SEDOL" value="6440503"/>
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        <balance>20500.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <pctVal>0.045929132835</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FEED ONE CO LTD</name>
        <lei>N/A</lei>
        <title>FEED ONE CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3802960009"/>
          <ticker value="2060"/>
          <other otherDesc="SEDOL" value="BQQ1JQ7"/>
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        <balance>28000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <pctVal>0.020542499809</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DAMPSKIBSSELSKABET NORDEN A/S</name>
        <lei>529900RGXD3CBR3BRU63</lei>
        <title>DAMPSKIBSSELSKABET NORDEN A/S DKK1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DK0060083210"/>
          <ticker value="DNORD"/>
          <other otherDesc="SEDOL" value="B1WP656"/>
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        <balance>26519.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="6.53800000"/>
        <valUSD>1114625.45000000</valUSD>
        <pctVal>0.108317797653</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TAMRON COMPANY LTD</name>
        <lei>N/A</lei>
        <title>TAMRON COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3471800007"/>
          <ticker value="7740"/>
          <other otherDesc="SEDOL" value="6871028"/>
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        <balance>84200.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>598375.63000000</valUSD>
        <pctVal>0.058149336542</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KH NEOCHEM CO LTD</name>
        <lei>N/A</lei>
        <title>KH NEOCHEM CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3277040006"/>
          <ticker value="4189"/>
          <other otherDesc="SEDOL" value="BZCRNM6"/>
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        <balance>12000.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>218994.00000000</valUSD>
        <pctVal>0.021281541507</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RESORTTRUST INC</name>
        <lei>353800FM9MYWH105SE11</lei>
        <title>RESORTTRUST INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3974450003"/>
          <ticker value="4681"/>
          <other otherDesc="SEDOL" value="6044132"/>
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        <balance>91800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <pctVal>0.095481185875</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HEIWADO CO LTD</name>
        <lei>N/A</lei>
        <title>HEIWADO CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3834400008"/>
          <ticker value="8276"/>
          <other otherDesc="SEDOL" value="6419611"/>
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        <balance>17800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>276870.64000000</valUSD>
        <pctVal>0.026905915309</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>REJLERS AB</name>
        <lei>549300K5464VN6QLVB64</lei>
        <title>REJLERS AB SER'B'NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0000123671"/>
          <ticker value="REJLB"/>
          <other otherDesc="SEDOL" value="B40BM93"/>
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        <balance>23861.00000000</balance>
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        <currencyConditional curCd="SEK" exchangeRt="9.67815000"/>
        <valUSD>347628.52000000</valUSD>
        <pctVal>0.033782070639</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>YOKOREI CO LTD</name>
        <lei>N/A</lei>
        <title>YOKOREI CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3957000007"/>
          <ticker value="2874"/>
          <other otherDesc="SEDOL" value="6986483"/>
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        <balance>15400.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHUGIN FINANCIAL GROUP INC</name>
        <lei>N/A</lei>
        <title>CHUGIN FINANCIAL GROUP INC NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3520700000"/>
          <ticker value="5832"/>
          <other otherDesc="SEDOL" value="BP29PY8"/>
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        <balance>143700.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NAGOYA RAILROAD CO LTD</name>
        <lei>353800P62OOYUY3I8T51</lei>
        <title>NAGOYA RAILROAD CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3649800004"/>
          <ticker value="9048"/>
          <other otherDesc="SEDOL" value="6619864"/>
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        <balance>49800.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JAC RECRUITMENT COMPANY LTD</name>
        <lei>N/A</lei>
        <title>JAC RECRUITMENT COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3386130003"/>
          <ticker value="2124"/>
          <other otherDesc="SEDOL" value="B1CC1X0"/>
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        <balance>95500.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>S4 CAPITAL PLC</name>
        <lei>21380068SP9V65KPQN68</lei>
        <title>S4 CAPITAL PLC ORD GBP0.25</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BFZZM640"/>
          <ticker value="SFOR"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>THULE GROUP AB</name>
        <lei>549300XHHOGBOERKU333</lei>
        <title>THULE GROUP AB NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SE0006422390"/>
          <ticker value="THULE"/>
          <other otherDesc="SEDOL" value="BSQXJ01"/>
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        <assetCat>EC</assetCat>
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        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>DAISHI HOKUETSU FINANCIAL GROUP INC</name>
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        <title>DAISHI HOKUETSU FINANCIAL GROUP INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3483850008"/>
          <ticker value="7327"/>
          <other otherDesc="SEDOL" value="BFYGQ44"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>LEOPALACE21 CORP</name>
        <lei>529900Z3BHJUW1DY6254</lei>
        <title>LEOPALACE21 CORP NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3167500002"/>
          <ticker value="8848"/>
          <other otherDesc="SEDOL" value="6598424"/>
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        <balance>85800.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>NICHIAS CORP</name>
        <lei>N/A</lei>
        <title>NICHIAS CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3660400007"/>
          <ticker value="5393"/>
          <other otherDesc="SEDOL" value="6641146"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JAPAN ELEVATOR SERVICE HOLDINGS CO LTD</name>
        <lei>N/A</lei>
        <title>JAPAN ELEVATOR SERVICE HOLDINGS CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3389510003"/>
          <ticker value="6544"/>
          <other otherDesc="SEDOL" value="BF0QWT5"/>
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        <balance>28600.00000000</balance>
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        <valUSD>306016.92000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MEITEC GROUP HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>MEITEC GROUP HOLDINGS INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3919200000"/>
          <ticker value="9744"/>
          <other otherDesc="SEDOL" value="6576356"/>
        </identifiers>
        <balance>80400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>1537011.54000000</valUSD>
        <pctVal>0.149364708100</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ACCENT GROUP LTD</name>
        <lei>N/A</lei>
        <title>ACCENT GROUP LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000AX19"/>
          <ticker value="AX1"/>
          <other otherDesc="SEDOL" value="BD20RS5"/>
        </identifiers>
        <balance>888442.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
        <valUSD>437013.96000000</valUSD>
        <pctVal>0.042468427121</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FURUNO ELECTRIC COMPANY LTD</name>
        <lei>N/A</lei>
        <title>FURUNO ELECTRIC COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3828400006"/>
          <ticker value="6814"/>
          <other otherDesc="SEDOL" value="6357614"/>
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        <balance>9300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>325592.99000000</valUSD>
        <pctVal>0.031640687558</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VETROPACK HOLDING AG</name>
        <lei>894500HGD08C8B6GS128</lei>
        <title>VETROPACK HOLDING AG CHF1(BR)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CH0530235594"/>
          <ticker value="VETN"/>
          <other otherDesc="SEDOL" value="BLD1K17"/>
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        <balance>20672.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.80665000"/>
        <valUSD>461798.10000000</valUSD>
        <pctVal>0.044876916414</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MEIDENSHA CORP</name>
        <lei>529900VFKHJPVURD7985</lei>
        <title>MEIDENSHA CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3919800007"/>
          <ticker value="6508"/>
          <other otherDesc="SEDOL" value="6575900"/>
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        <balance>20500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>1232333.49000000</valUSD>
        <pctVal>0.119756506198</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PAN AFRICAN RESOURCES PLC</name>
        <lei>213800EAXURCXMX6RL85</lei>
        <title>PAN AFRICAN RESOURCES PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0004300496"/>
          <ticker value="PAF"/>
          <other otherDesc="SEDOL" value="0430049"/>
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        <balance>1228123.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>1556674.17000000</valUSD>
        <pctVal>0.151275495960</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="171218.27542550"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OHSHO FOOD SERVICE CORP</name>
        <lei>N/A</lei>
        <title>OHSHO FOOD SERVICE CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3174300008"/>
          <ticker value="9936"/>
          <other otherDesc="SEDOL" value="6660936"/>
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        <balance>18700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>327918.78000000</valUSD>
        <pctVal>0.031866704693</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="327901.24596670"/>
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      </invstOrSec>
      <invstOrSec>
        <name>TOTECH CORP</name>
        <lei>N/A</lei>
        <title>TOTECH CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3595300009"/>
          <ticker value="9960"/>
          <other otherDesc="SEDOL" value="6900096"/>
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        <balance>33000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>840609.14000000</valUSD>
        <pctVal>0.081689262282</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ORSERO SPA</name>
        <lei>8156001895E0F4E7A803</lei>
        <title>ORSERO SPA NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IT0005138703"/>
          <ticker value="ORS"/>
          <other otherDesc="SEDOL" value="BYZB102"/>
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        <balance>31265.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>548332.55000000</valUSD>
        <pctVal>0.053286217534</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NICHIREI CORP</name>
        <lei>529900MX3GPXXKO0MT06</lei>
        <title>NICHIREI CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3665200006"/>
          <ticker value="2871"/>
          <other otherDesc="SEDOL" value="6640864"/>
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        <balance>89300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>1192864.48000000</valUSD>
        <pctVal>0.115920961048</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CALBEE INC</name>
        <lei>529900CIHZID6O8LJH81</lei>
        <title>CALBEE INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3220580009"/>
          <ticker value="2229"/>
          <other otherDesc="SEDOL" value="B3TBRZ8"/>
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        <balance>36500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>663411.78000000</valUSD>
        <pctVal>0.064469461869</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>REN - REDES ENERGETICAS NACIONAIS SGPS SA</name>
        <lei>549300FR1FN48IGHR915</lei>
        <title>REN - REDES ENERGETICAS NACIONAIS SGPS SA EUR1(REGD)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="PTREL0AM0008"/>
          <ticker value="RENE"/>
          <other otherDesc="SEDOL" value="B233HR5"/>
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        <balance>937748.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>4047280.83000000</valUSD>
        <pctVal>0.393309291467</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>YOKOGAWA BRIDGE HOLDINGS CORP</name>
        <lei>N/A</lei>
        <title>YOKOGAWA BRIDGE HOLDINGS CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3955200005"/>
          <ticker value="5911"/>
          <other otherDesc="SEDOL" value="6986405"/>
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        <balance>36900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>644799.26000000</valUSD>
        <pctVal>0.062660722282</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PNE AG</name>
        <lei>391200KEHI6OQSGGN373</lei>
        <title>PNE AG NPV (REGD)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE000A0JBPG2"/>
          <ticker value="PNE3"/>
          <other otherDesc="SEDOL" value="B0QCZ26"/>
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        <balance>23443.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>294290.18000000</valUSD>
        <pctVal>0.028598722708</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WESTGOLD RESOURCES LTD</name>
        <lei>2549003AMX9BL7CKBQ74</lei>
        <title>WESTGOLD RESOURCES LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000WGX6"/>
          <ticker value="WGX"/>
          <other otherDesc="SEDOL" value="BYVQ673"/>
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        <balance>203742.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
        <valUSD>663416.56000000</valUSD>
        <pctVal>0.064469926383</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SKY PERFECT JSAT CORP</name>
        <lei>5299009SAF34W9TVEF26</lei>
        <title>SKY PERFECT JSAT CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3396350005"/>
          <ticker value="9412"/>
          <other otherDesc="SEDOL" value="B1TK234"/>
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        <balance>100900.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <pctVal>0.161506582900</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SHUFERSAL LTD</name>
        <lei>984500F64E05B78E0D41</lei>
        <title>SHUFERSAL LTD ORD ILS0.1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0007770378"/>
          <ticker value="SAE"/>
          <other otherDesc="SEDOL" value="6860543"/>
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        <balance>228547.00000000</balance>
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        <currencyConditional curCd="ILS" exchangeRt="2.97945000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CEDAR WOODS PROPERTIES LTD</name>
        <lei>9845005E52CDEBDEF822</lei>
        <title>CEDAR WOODS PROPERTIES LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000CWP1"/>
          <ticker value="CWP"/>
          <other otherDesc="SEDOL" value="6182281"/>
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        <balance>169024.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JUMBO INTERACTIVE LTD</name>
        <lei>52990094T9F7X0NC0X54</lei>
        <title>JUMBO INTERACTIVE LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000JIN0"/>
          <ticker value="JIN"/>
          <other otherDesc="SEDOL" value="6524474"/>
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        <balance>124812.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>KAMEI CORP</name>
        <lei>N/A</lei>
        <title>KAMEI CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3219400003"/>
          <ticker value="8037"/>
          <other otherDesc="SEDOL" value="6482550"/>
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        <balance>16100.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <pctVal>0.032778847806</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</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>KONOIKE TRANSPORT COMPANY LTD</name>
        <lei>3538004PLQ2IF2DMNC61</lei>
        <title>KONOIKE TRANSPORT COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3288970001"/>
          <ticker value="9025"/>
          <other otherDesc="SEDOL" value="B99HH03"/>
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        <balance>41600.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>692885.40000000</valUSD>
        <pctVal>0.067333668502</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NIPPON DENSETSU KOGYO CO LTD</name>
        <lei>N/A</lei>
        <title>NIPPON DENSETSU KOGYO CO LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3736200001"/>
          <ticker value="1950"/>
          <other otherDesc="SEDOL" value="6640325"/>
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        <balance>22600.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN SINDALL GROUP PLC</name>
        <lei>2138008339ULDGZRB345</lei>
        <title>MORGAN SINDALL GROUP PLC ORD GBP0.05</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0008085614"/>
          <ticker value="MGNS"/>
          <other otherDesc="SEDOL" value="0808561"/>
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        <balance>39142.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>2553920.46000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MORELD ASA</name>
        <lei>6488UNV33KXZ9498L870</lei>
        <title>MORELD ASA NOK0.10</title>
        <cusip>000000000</cusip>
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          <isin value="NO0013325506"/>
          <ticker value="MORLD"/>
          <other otherDesc="SEDOL" value="BRT59V8"/>
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        <balance>340198.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HAKUHODO DY HOLDINGS INC</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
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          <isin value="JP3766550002"/>
          <ticker value="2433"/>
          <other otherDesc="SEDOL" value="B05LZ02"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SHINAGAWA REFRA CO LTD</name>
        <lei>N/A</lei>
        <title>SHINAGAWA REFRA CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3353200003"/>
          <ticker value="5351"/>
          <other otherDesc="SEDOL" value="6804466"/>
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        <balance>34500.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>VSTECS HOLDINGS LTD</name>
        <lei>N/A</lei>
        <title>VSTECS HOLDINGS LTD HKD0.10</title>
        <cusip>000000000</cusip>
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          <isin value="KYG9400C1116"/>
          <ticker value="856"/>
          <other otherDesc="SEDOL" value="6527031"/>
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        <balance>880000.00000000</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.84205000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BIC CAMERA INC</name>
        <lei>353800MQU1LJXY6N8N97</lei>
        <title>BIC CAMERA INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3800390001"/>
          <ticker value="3048"/>
          <other otherDesc="SEDOL" value="B194YN0"/>
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        <balance>64500.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CLAS OHLSON AB</name>
        <lei>549300MH8OETHBBKJU80</lei>
        <title>CLAS OHLSON AB SER'B'NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0000584948"/>
          <ticker value="CLASB"/>
          <other otherDesc="SEDOL" value="B033YF8"/>
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        <balance>39056.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FUNAI SOKEN HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>FUNAI SOKEN HOLDINGS INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3825800000"/>
          <ticker value="9757"/>
          <other otherDesc="SEDOL" value="6357368"/>
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        <balance>58600.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CORTICEIRA AMORIM SGPS SA</name>
        <lei>213800J5M11TDEP3LQ76</lei>
        <title>CORTICEIRA AMORIM SGPS SA EUR1</title>
        <cusip>000000000</cusip>
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          <isin value="PTCOR0AE0006"/>
          <ticker value="COR"/>
          <other otherDesc="SEDOL" value="4657736"/>
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        <balance>167847.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SHIP HEALTHCARE HOLDINGS INC</name>
        <lei>353800BIFUE1L527TH13</lei>
        <title>SHIP HEALTHCARE HOLDINGS INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3274150006"/>
          <ticker value="3360"/>
          <other otherDesc="SEDOL" value="B05MTR0"/>
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        <balance>17100.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NISSHIN OILLIO GROUP LTD (THE)</name>
        <lei>549300DMFXTY70ZEGQ59</lei>
        <title>NISSHIN OILLIO GROUP LTD (THE) NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3677200002"/>
          <ticker value="2602"/>
          <other otherDesc="SEDOL" value="6641049"/>
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        <balance>53400.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>WARPAINT LONDON PLC</name>
        <lei>213800EBJ2CN6KIDCO78</lei>
        <title>WARPAINT LONDON PLC ORD GBP0.25</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BYMF3676"/>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ENGCON AB</name>
        <lei>549300EMZ2B768S85S50</lei>
        <title>ENGCON AB SER'B'NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SE0017769847"/>
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          <other otherDesc="SEDOL" value="BNBS2J6"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PROPERTY FRANCHISE GROUP PLC (THE)</name>
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        <title>PROPERTY FRANCHISE GROUP PLC (THE) ORD GBP0.01</title>
        <cusip>000000000</cusip>
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          <ticker value="TPFG"/>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NORITAKE CO LTD</name>
        <lei>529900EN4XJGJXV4A581</lei>
        <title>NORITAKE CO LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3763000001"/>
          <ticker value="5331"/>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ME GROUP INTERNATIONAL PLC</name>
        <lei>2138006YJ65EKBYYYX41</lei>
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        <cusip>000000000</cusip>
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          <isin value="GB0008481250"/>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>UMS INTEGRATION LTD</name>
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        <cusip>000000000</cusip>
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        <invCountry>SG</invCountry>
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        <name>SUN FRONTIER FUDOUSAN COMPANY LTD</name>
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        <cusip>000000000</cusip>
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          <isin value="JP3336950005"/>
          <ticker value="8934"/>
          <other otherDesc="SEDOL" value="B03BJB3"/>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>RICEGROWERS LTD</name>
        <lei>549300RYODFD7C80YZ70</lei>
        <title>RICEGROWERS LTD NPV CLASS B NON-VOTING</title>
        <cusip>000000000</cusip>
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          <isin value="AU0000040982"/>
          <ticker value="SGLLV"/>
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        <assetCat>EC</assetCat>
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        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>OPMOBILITY SE</name>
        <lei>9695001VLC2KYXX0DW73</lei>
        <title>OPMOBILITY SE EUR0.06</title>
        <cusip>000000000</cusip>
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          <isin value="FR0000124570"/>
          <ticker value="OPM"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>IZUMI CO LTD</name>
        <lei>N/A</lei>
        <title>IZUMI CO LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3138400001"/>
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        <balance>63000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ZINZINO AB</name>
        <lei>549300Z20D1BP4MA0040</lei>
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        <cusip>000000000</cusip>
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          <isin value="SE0002480442"/>
          <ticker value="ZZB"/>
          <other otherDesc="SEDOL" value="B67JMR2"/>
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        <balance>38624.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>FRP ADVISORY GROUP PLC</name>
        <lei>213800IPCG6DE1CVLY36</lei>
        <title>FRP ADVISORY GROUP PLC ORD GBP0.001</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BL9BW044"/>
          <ticker value="FRP"/>
          <other otherDesc="SEDOL" value="BL9BW04"/>
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        <balance>344943.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>FEVERTREE DRINKS PLC</name>
        <lei>2138007AJRLHRVQZLD07</lei>
        <title>FEVERTREE DRINKS PLC ORD GBP0.0025</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BRJ9BJ26"/>
          <ticker value="FEVR"/>
          <other otherDesc="SEDOL" value="BRJ9BJ2"/>
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        <balance>63363.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SEIKA CORP</name>
        <lei>N/A</lei>
        <title>SEIKA CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3414200000"/>
          <ticker value="8061"/>
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        <balance>23800.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NOLATO AB</name>
        <lei>213800T7T7I7WAOX8Y72</lei>
        <title>NOLATO AB SER'B'NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0015962477"/>
          <ticker value="NOLAB"/>
          <other otherDesc="SEDOL" value="BMXT8K3"/>
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        <balance>154747.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AICHI STEEL CORP</name>
        <lei>353800P9OWOVHHY4ML18</lei>
        <title>AICHI STEEL CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3103600007"/>
          <ticker value="5482"/>
          <other otherDesc="SEDOL" value="6010207"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PCB TECHNOLOGIES LTD</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
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          <isin value="IL0010916851"/>
          <ticker value="PCBT"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ZEON CORP</name>
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        <cusip>000000000</cusip>
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          <isin value="JP3725400000"/>
          <ticker value="4205"/>
          <other otherDesc="SEDOL" value="6644015"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NIPPON SHOKUBAI CO LTD</name>
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        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3715200006"/>
          <ticker value="4114"/>
          <other otherDesc="SEDOL" value="6470588"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NICHOLS PLC</name>
        <lei>213800EF5CMR3K8PND54</lei>
        <title>NICHOLS PLC ORD GBP0.10</title>
        <cusip>000000000</cusip>
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          <isin value="GB0006389398"/>
          <ticker value="NICL"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NS UNITED KAIUN KAISHA LTD</name>
        <lei>353800MK2Y7X2PZGXN23</lei>
        <title>NS UNITED KAIUN KAISHA LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3385000009"/>
          <ticker value="9110"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SURUGA BANK LTD</name>
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        <title>SURUGA BANK LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3411000007"/>
          <ticker value="8358"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ION BEAM APPLICATIONS SA</name>
        <lei>5493002RVRZ1S3CPUI26</lei>
        <title>ION BEAM APPLICATIONS SA NPV</title>
        <cusip>000000000</cusip>
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          <isin value="BE0003766806"/>
          <ticker value="IBAB"/>
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        <assetCat>EC</assetCat>
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        <invCountry>BE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>OKUMURA CORP</name>
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        <fairValLevel>1</fairValLevel>
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        <name>LIBRA INSURANCE CO LTD</name>
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        <fairValLevel>1</fairValLevel>
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        <name>TRUECALLER AB</name>
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        <name>BEFESA SA</name>
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      <invstOrSec>
        <name>SUPER RETAIL GROUP LTD</name>
        <lei>9845001C5140A8CK7D81</lei>
        <title>SUPER RETAIL GROUP LTD NPV</title>
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      <invstOrSec>
        <name>ON THE BEACH GROUP PLC</name>
        <lei>213800K51Y9BZY7F9R69</lei>
        <title>ON THE BEACH GROUP PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
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        <fairValLevel>1</fairValLevel>
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        <name>MEDITR TOWER</name>
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        <name>GLOBAL DOMINION ACCESS SA</name>
        <lei>95980020140005225955</lei>
        <title>GLOBAL DOMINION ACCESS SA EUR0.125</title>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>KAGA ELECTRONICS CO LTD</name>
        <lei>3538005V2HARHWLTPJ42</lei>
        <title>KAGA ELECTRONICS CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3206200002"/>
          <ticker value="8154"/>
          <other otherDesc="SEDOL" value="6480758"/>
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        <balance>30400.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SMITHS NEWS PLC</name>
        <lei>2138004O33ONVOOQXB02</lei>
        <title>SMITHS NEWS PLC ORD GBP0.05</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B17WCR61"/>
          <ticker value="SNWS"/>
          <other otherDesc="SEDOL" value="B17WCR6"/>
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        <balance>962947.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>904874.03000000</valUSD>
        <pctVal>0.087934437602</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>PZ CUSSONS PLC</name>
        <lei>XB3CXKKKED7OMV80FY35</lei>
        <title>PZ CUSSONS PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B19Z1432"/>
          <ticker value="PZC"/>
          <other otherDesc="SEDOL" value="B19Z143"/>
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        <balance>621062.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>NIPPON LIGHT METAL HOLDINGS CO LTD</name>
        <lei>353800J9KCFJSF2CGT47</lei>
        <title>NIPPON LIGHT METAL HOLDINGS CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3700200003"/>
          <ticker value="5703"/>
          <other otherDesc="SEDOL" value="B51WP26"/>
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        <balance>8200.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ECKERT &amp; ZIEGLER STRAHLEN UND MEDIZINTECHNIK SE</name>
        <lei>391200EUDABLUKXCKG48</lei>
        <title>ECKERT &amp; ZIEGLER STRAHLEN UND MEDIZINTECHNIK SE NPV (BR)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE0005659700"/>
          <ticker value="EUZ"/>
          <other otherDesc="SEDOL" value="5689857"/>
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        <balance>26073.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>UCHIDA YOKO CO LTD</name>
        <lei>N/A</lei>
        <title>UCHIDA YOKO CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3157200001"/>
          <ticker value="8057"/>
          <other otherDesc="SEDOL" value="6910965"/>
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        <balance>24000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>IMPLENIA AG</name>
        <lei>52990006TKCUQQJ79B11</lei>
        <title>IMPLENIA AG CHF1.02 (REGD)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CH0023868554"/>
          <ticker value="IMPN"/>
          <other otherDesc="SEDOL" value="B10DQJ6"/>
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        <balance>7666.00000000</balance>
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        <currencyConditional curCd="CHF" exchangeRt="0.80665000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BEKAERT SA/NV</name>
        <lei>5493008SR6XZECH6BN71</lei>
        <title>BEKAERT SA/NV NPV</title>
        <cusip>000000000</cusip>
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          <isin value="BE0974258874"/>
          <ticker value="BEKB"/>
          <other otherDesc="SEDOL" value="5827431"/>
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        <balance>53121.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JUROKU FINANCIAL GROUP INC</name>
        <lei>N/A</lei>
        <title>JUROKU FINANCIAL GROUP INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3392650002"/>
          <ticker value="7380"/>
          <other otherDesc="SEDOL" value="BLGYF07"/>
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        <balance>113800.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PREMIER MITON GROUP PLC</name>
        <lei>213800LK2M4CLJ4H2V85</lei>
        <title>PREMIER MITON GROUP PLC ORD GBP0.0002</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BZB2KR63"/>
          <ticker value="PMI"/>
          <other otherDesc="SEDOL" value="BZB2KR6"/>
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        <balance>611475.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FIBI HOLDINGS LTD</name>
        <lei>N/A</lei>
        <title>FIBI HOLDINGS LTD ILS0.05</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0007630119"/>
          <ticker value="FIBIH"/>
          <other otherDesc="SEDOL" value="6339429"/>
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        <balance>48851.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>YAMAZEN CORP</name>
        <lei>353800VADDW91MPELT42</lei>
        <title>YAMAZEN CORP NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3936800006"/>
          <ticker value="8051"/>
          <other otherDesc="SEDOL" value="6985587"/>
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        <balance>46000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>FAES FARMA SA</name>
        <lei>959800FXZQY7U3P1G969</lei>
        <title>FAES FARMA SA EUR0.1(REGD)</title>
        <cusip>000000000</cusip>
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          <isin value="ES0134950F36"/>
          <ticker value="FAE"/>
          <other otherDesc="SEDOL" value="B1PQHS6"/>
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        <balance>371998.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>IDI INSURANCE CO LTD</name>
        <lei>N/A</lei>
        <title>IDI INSURANCE CO LTD ILS1.00</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0011295016"/>
          <ticker value="IDIN"/>
          <other otherDesc="SEDOL" value="BD04HH8"/>
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        <balance>23463.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PARK24 CO LTD</name>
        <lei>549300LFG2WZWCWM4M68</lei>
        <title>PARK24 CO LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3780100008"/>
          <ticker value="4666"/>
          <other otherDesc="SEDOL" value="6667733"/>
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        <balance>28700.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>HANWA CO LTD</name>
        <lei>8EUP1TJYZFX3T1E5AJ33</lei>
        <title>HANWA CO LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3777800008"/>
          <ticker value="8078"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>KONICA MINOLTA INC</name>
        <lei>549300SVK6KRUOL1A740</lei>
        <title>KONICA MINOLTA INC NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3300600008"/>
          <ticker value="4902"/>
          <other otherDesc="SEDOL" value="6496700"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>OOH! MEDIA LTD</name>
        <lei>984500D581E7E7A88078</lei>
        <title>OOH! MEDIA LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000OML6"/>
          <ticker value="OML"/>
          <other otherDesc="SEDOL" value="BSXN8D0"/>
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        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>WING TAI HOLDINGS LTD</name>
        <lei>984500SB157F8C2A6839</lei>
        <title>WING TAI HOLDINGS LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SG1K66001688"/>
          <ticker value="WINGT"/>
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        <assetCat>EC</assetCat>
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        <invCountry>SG</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>DREYFUS TRSY OBLIG CASH M</name>
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        <title>DREYFUS TRSY OBLIG CASH M</title>
        <cusip>000000000</cusip>
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        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OKASAN SECURITIES GROUP INC</name>
        <lei>N/A</lei>
        <title>OKASAN SECURITIES GROUP INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3190800007"/>
          <ticker value="8609"/>
          <other otherDesc="SEDOL" value="6657949"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WAYPOINT REIT LTD</name>
        <lei>5493003CS5K82RREKA54</lei>
        <title>WAYPOINT REIT LTD NPV (STAPLED)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU0000088064"/>
          <ticker value="WPR"/>
          <other otherDesc="SEDOL" value="BLBQ285"/>
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        <balance>1134757.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
        <valUSD>1910367.97000000</valUSD>
        <pctVal>0.185646982328</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FRANCE BED HOLDINGS COMPANY LTD</name>
        <lei>353800EBNDTCYMRTFU33</lei>
        <title>FRANCE BED HOLDINGS COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3826500005"/>
          <ticker value="7840"/>
          <other otherDesc="SEDOL" value="6744056"/>
        </identifiers>
        <balance>29700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>224954.31000000</valUSD>
        <pctVal>0.021860756393</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DCM HOLDINGS COMPANY LTD</name>
        <lei>353800S1QF5V2DN70A36</lei>
        <title>DCM HOLDINGS COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3548660004"/>
          <ticker value="3050"/>
          <other otherDesc="SEDOL" value="B1B0V35"/>
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        <balance>53500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>501999.69000000</valUSD>
        <pctVal>0.048783652700</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NISHI-NIPPON FINANCIAL HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>NISHI-NIPPON FINANCIAL HOLDINGS INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3658850007"/>
          <ticker value="7189"/>
          <other otherDesc="SEDOL" value="BD57ZM3"/>
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        <balance>83800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>2133090.91000000</valUSD>
        <pctVal>0.207290897194</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AUTOBACS SEVEN CO LTD</name>
        <lei>5299006NCUSCPURTQB07</lei>
        <title>AUTOBACS SEVEN CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3172500005"/>
          <ticker value="9832"/>
          <other otherDesc="SEDOL" value="6068422"/>
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        <balance>27403.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>245830.33000000</valUSD>
        <pctVal>0.023889459855</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SMARTONE TELECOMMUNICATIONS HOLDINGS LTD</name>
        <lei>529900CT7EGMVQRYNQ45</lei>
        <title>SMARTONE TELECOMMUNICATIONS HOLDINGS LTD ORD HKD0.10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG8219Z1059"/>
          <ticker value="315"/>
          <other otherDesc="SEDOL" value="6856995"/>
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        <balance>1756500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84205000"/>
        <valUSD>1039289.47000000</valUSD>
        <pctVal>0.100996748741</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>YELLOW HAT LTD</name>
        <lei>N/A</lei>
        <title>YELLOW HAT LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3131350005"/>
          <ticker value="9882"/>
          <other otherDesc="SEDOL" value="6753591"/>
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        <balance>24400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>264230.12000000</valUSD>
        <pctVal>0.025677526627</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DATALOGIC SPA</name>
        <lei>815600A033443037ED66</lei>
        <title>DATALOGIC SPA EUR0.52</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IT0004053440"/>
          <ticker value="DAL"/>
          <other otherDesc="SEDOL" value="B14P8W5"/>
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        <balance>87331.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>581101.04000000</valUSD>
        <pctVal>0.056470615189</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WILH.WILHELMSEN HOLDING ASA</name>
        <lei>54930050TPKOLSE1ZZ71</lei>
        <title>WILH.WILHELMSEN HOLDING ASA SER'A'NOK20</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NO0010571698"/>
          <ticker value="WWI"/>
          <other otherDesc="SEDOL" value="B682WX6"/>
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        <balance>32988.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="9.89550000"/>
        <valUSD>2290208.28000000</valUSD>
        <pctVal>0.222559351267</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>OXFORD INSTRUMENTS PLC</name>
        <lei>213800J364EZD6UCE231</lei>
        <title>OXFORD INSTRUMENTS PLC ORD GBP0.05</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0006650450"/>
          <ticker value="OXIG"/>
          <other otherDesc="SEDOL" value="0665045"/>
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        <balance>24875.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>1006307.09000000</valUSD>
        <pctVal>0.097791565545</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ELMOS SEMICONDUCTOR SE</name>
        <lei>529900UMKKDCAP4P4H63</lei>
        <title>ELMOS SEMICONDUCTOR SE NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE0005677108"/>
          <ticker value="ELG"/>
          <other otherDesc="SEDOL" value="5695423"/>
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        <balance>9703.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>2001256.72000000</valUSD>
        <pctVal>0.194479428448</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NORCROS PLC</name>
        <lei>213800EIMJZZA1GBIE18</lei>
        <title>NORCROS PLC ORD GBP0.1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BYYJL418"/>
          <ticker value="NXR"/>
          <other otherDesc="SEDOL" value="BYYJL41"/>
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        <balance>145678.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>568451.98000000</valUSD>
        <pctVal>0.055241396601</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ES-CON JAPAN LTD</name>
        <lei>N/A</lei>
        <title>ES-CON JAPAN LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3688330004"/>
          <ticker value="8892"/>
          <other otherDesc="SEDOL" value="6380643"/>
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        <balance>85900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>569759.73000000</valUSD>
        <pctVal>0.055368481982</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EUROCELL PLC</name>
        <lei>213800RH62IQ7S9OFQ55</lei>
        <title>EUROCELL PLC ORD GBP0.001</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BVV2KN49"/>
          <ticker value="ECEL"/>
          <other otherDesc="SEDOL" value="BVV2KN4"/>
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        <balance>202135.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
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        <pctVal>0.028678573434</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PORR AG</name>
        <lei>529900ARBU9SBJFNX419</lei>
        <title>PORR AG NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AT0000609607"/>
          <ticker value="POS"/>
          <other otherDesc="SEDOL" value="4019950"/>
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        <balance>28115.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
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        <pctVal>0.138223684974</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AT</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>DERICHEBOURG SA</name>
        <lei>969500QOO4C4IPGID263</lei>
        <title>DERICHEBOURG SA EUR0.25</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0000053381"/>
          <ticker value="DBG"/>
          <other otherDesc="SEDOL" value="4457088"/>
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        <balance>106222.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RAMSDENS HOLDINGS PLC</name>
        <lei>2138004439PRUV6WB123</lei>
        <title>RAMSDENS HOLDINGS PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BDR6V192"/>
          <ticker value="RFX"/>
          <other otherDesc="SEDOL" value="BDR6V19"/>
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        <balance>97563.00000000</balance>
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        <pctVal>0.074243852879</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</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>PARADOX INTERACTIVE AB</name>
        <lei>529900QNSZUY53R5WW95</lei>
        <title>PARADOX INTERACTIVE AB NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0008294953"/>
          <ticker value="PDX"/>
          <other otherDesc="SEDOL" value="BD4F658"/>
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        <balance>50211.00000000</balance>
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        <currencyConditional curCd="SEK" exchangeRt="9.67815000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HARGREAVES SERVICES PLC</name>
        <lei>213800O17BER1SHMH466</lei>
        <title>HARGREAVES SERVICES PLC ORD GBP0.10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B0MTC970"/>
          <ticker value="HSP"/>
          <other otherDesc="SEDOL" value="B0MTC97"/>
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        <balance>75314.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>DR MARTENS PLC</name>
        <lei>213800QPT8YM6NQZPH28</lei>
        <title>DR MARTENS PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BL6NGV24"/>
          <ticker value="DOCS"/>
          <other otherDesc="SEDOL" value="BL6NGV2"/>
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        <balance>716001.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>INGHAMS GROUP LTD</name>
        <lei>529900ZZ4VRHSGVBNE41</lei>
        <title>INGHAMS GROUP LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000ING6"/>
          <ticker value="ING"/>
          <other otherDesc="SEDOL" value="BZCNHW2"/>
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        <balance>669282.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
        <valUSD>955177.86000000</valUSD>
        <pctVal>0.092822895944</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LAPIDOTH CAPITAL LTD</name>
        <lei>N/A</lei>
        <title>LAPIDOTH CAPITAL LTD ILS1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0006420173"/>
          <ticker value="LAPD"/>
          <other otherDesc="SEDOL" value="6505532"/>
        </identifiers>
        <balance>46412.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="2.97945000"/>
        <valUSD>1176091.56000000</valUSD>
        <pctVal>0.114290991308</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MIDWICH GROUP PLC</name>
        <lei>213800TUH2ZU68PZZN12</lei>
        <title>MIDWICH GROUP PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BYSXWW41"/>
          <ticker value="MIDW"/>
          <other otherDesc="SEDOL" value="BYSXWW4"/>
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        <balance>264261.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>469290.40000000</valUSD>
        <pctVal>0.045605008021</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INABA DENKISANGYO CO LTD</name>
        <lei>N/A</lei>
        <title>INABA DENKISANGYO CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3146200005"/>
          <ticker value="9934"/>
          <other otherDesc="SEDOL" value="6459219"/>
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        <balance>86200.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>1443694.20000000</valUSD>
        <pctVal>0.140296254880</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ULVAC INC</name>
        <lei>N/A</lei>
        <title>ULVAC INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3126190002"/>
          <ticker value="6728"/>
          <other otherDesc="SEDOL" value="6599483"/>
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        <balance>14300.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <pctVal>0.088453948840</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>RIGAKU HOLDINGS CORP</name>
        <lei>529900Y0KH94TFOLAZ47</lei>
        <title>RIGAKU HOLDINGS CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3969750003"/>
          <ticker value="268A"/>
          <other otherDesc="SEDOL" value="BRZWM70"/>
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        <balance>22600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>347638.82000000</valUSD>
        <pctVal>0.033783071579</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <loanByFundCondition isLoanByFund="Y" loanVal="249177.04968812"/>
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      </invstOrSec>
      <invstOrSec>
        <name>BONDUELLE SCA</name>
        <lei>969500QVHHN3NNVYRE94</lei>
        <title>BONDUELLE SCA EUR1.75</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0000063935"/>
          <ticker value="BON"/>
          <other otherDesc="SEDOL" value="5481989"/>
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        <balance>45856.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>398446.48000000</valUSD>
        <pctVal>0.038720491440</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <loanByFundCondition isLoanByFund="Y" loanVal="366514.11232475"/>
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      </invstOrSec>
      <invstOrSec>
        <name>MOTA ENGIL SGPS SA</name>
        <lei>549300L6RR1203WN9F57</lei>
        <title>MOTA ENGIL SGPS SA EUR1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="PTMEN0AE0005"/>
          <ticker value="EGL"/>
          <other otherDesc="SEDOL" value="7025471"/>
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        <balance>181537.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>968019.12000000</valUSD>
        <pctVal>0.094070792269</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <loanByFundCondition isLoanByFund="Y" loanVal="967736.50134190"/>
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      </invstOrSec>
      <invstOrSec>
        <name>ODFJELL SE</name>
        <lei>529900J8VSH14TP5VD23</lei>
        <title>ODFJELL SE SER'A'NOK2.50</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NO0003399909"/>
          <ticker value="ODF"/>
          <other otherDesc="SEDOL" value="B086463"/>
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        <balance>134543.00000000</balance>
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        <currencyConditional curCd="NOK" exchangeRt="9.89550000"/>
        <valUSD>1416743.02000000</valUSD>
        <pctVal>0.137677175563</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TACHI-S CO LTD</name>
        <lei>N/A</lei>
        <title>TACHI-S CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3465400004"/>
          <ticker value="7239"/>
          <other otherDesc="SEDOL" value="6869498"/>
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        <balance>37000.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>483316.41000000</valUSD>
        <pctVal>0.046968036752</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ASHOT ASHKELON INDUSTRIES LTD</name>
        <lei>N/A</lei>
        <title>ASHOT ASHKELON INDUSTRIES LTD ILS1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0003120172"/>
          <ticker value="ASHO"/>
          <other otherDesc="SEDOL" value="6051875"/>
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        <balance>20740.00000000</balance>
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        <currencyConditional curCd="ILS" exchangeRt="2.97945000"/>
        <valUSD>581314.47000000</valUSD>
        <pctVal>0.056491356028</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <loanByFundCondition isLoanByFund="Y" loanVal="420317.83047247"/>
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      </invstOrSec>
      <invstOrSec>
        <name>KUREHA CORP</name>
        <lei>N/A</lei>
        <title>KUREHA CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3271600003"/>
          <ticker value="4023"/>
          <other otherDesc="SEDOL" value="6497907"/>
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        <balance>23800.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VENTURE CORP LTD</name>
        <lei>254900B1NLZC3J1MAE72</lei>
        <title>VENTURE CORP LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG0531000230"/>
          <ticker value="VMS"/>
          <other otherDesc="SEDOL" value="6927374"/>
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        <balance>282100.00000000</balance>
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        <currencyConditional curCd="SGD" exchangeRt="1.29345000"/>
        <valUSD>3731671.89000000</valUSD>
        <pctVal>0.362638840420</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SPAREBANK 1 NORD-NORGE ASA</name>
        <lei>549300SXM92LQ05OJQ76</lei>
        <title>SPAREBANK 1 NORD-NORGE ASA NOK18 GRUNNFONDSBEVIS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NO0006000801"/>
          <ticker value="NONG"/>
          <other otherDesc="SEDOL" value="B06T259"/>
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        <balance>203563.00000000</balance>
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        <currencyConditional curCd="NOK" exchangeRt="9.89550000"/>
        <valUSD>3147404.27000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INTEGRAL DIAGNOSTICS LTD</name>
        <lei>N/A</lei>
        <title>INTEGRAL DIAGNOSTICS LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000IDX2"/>
          <ticker value="IDX"/>
          <other otherDesc="SEDOL" value="BYV2ZK7"/>
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        <balance>361047.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MONY GROUP PLC</name>
        <lei>54930016B7VO33FBE722</lei>
        <title>MONY GROUP PLC ORD GBP0.0002</title>
        <cusip>000000000</cusip>
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          <isin value="GB00B1ZBKY84"/>
          <ticker value="MONY"/>
          <other otherDesc="SEDOL" value="B1ZBKY8"/>
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        <balance>721056.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CENTURIA CAPITAL LTD</name>
        <lei>N/A</lei>
        <title>CENTURIA CAPITAL LTD NPV STAPLED</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000CNI5"/>
          <ticker value="CNI"/>
          <other otherDesc="SEDOL" value="6518745"/>
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        <balance>891754.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SRG GLOBAL LTD</name>
        <lei>984500DDOA7EBAC95715</lei>
        <title>SRG GLOBAL LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="AU0000032914"/>
          <ticker value="SRG"/>
          <other otherDesc="SEDOL" value="BFMZB82"/>
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        <balance>686624.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FONIX PLC</name>
        <lei>213800GBZCWQ7HR2ZE92</lei>
        <title>FONIX PLC ORD GBP0.001</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BN789668"/>
          <ticker value="FNX"/>
          <other otherDesc="SEDOL" value="BN78966"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KEIKYU CORP</name>
        <lei>N/A</lei>
        <title>KEIKYU CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3280200001"/>
          <ticker value="9006"/>
          <other otherDesc="SEDOL" value="6487306"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MELIA HOTELS INTERNATIONAL SA</name>
        <lei>959800JRKSZ6YZD4EL80</lei>
        <title>MELIA HOTELS INTERNATIONAL SA EUR0.2</title>
        <cusip>000000000</cusip>
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          <isin value="ES0176252718"/>
          <ticker value="MEL"/>
          <other otherDesc="SEDOL" value="5738298"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SCANDIC HOTELS GROUP AB</name>
        <lei>529900JY9ZBGUXGRKQ86</lei>
        <title>SCANDIC HOTELS GROUP AB NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0007640156"/>
          <ticker value="SHOT"/>
          <other otherDesc="SEDOL" value="BYSXJH8"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SESA SPA</name>
        <lei>81560005C031D4E76707</lei>
        <title>SESA SPA NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IT0004729759"/>
          <ticker value="SES"/>
          <other otherDesc="SEDOL" value="B56RD66"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>SUSS MICROTEC SE</name>
        <lei>529900C3KRUTSYDK7N87</lei>
        <title>SUSS MICROTEC SE NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE000A1K0235"/>
          <ticker value="SMHN"/>
          <other otherDesc="SEDOL" value="B6YT190"/>
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        <balance>10867.00000000</balance>
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        <pctVal>0.112345879949</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>VTECH HOLDINGS LTD</name>
        <lei>N/A</lei>
        <title>VTECH HOLDINGS LTD USD0.05</title>
        <cusip>000000000</cusip>
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          <isin value="BMG9400S1329"/>
          <ticker value="303"/>
          <other otherDesc="SEDOL" value="6928560"/>
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        <balance>386100.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TUBACEX SA</name>
        <lei>95980020140005703680</lei>
        <title>TUBACEX SA EUR0.45</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="ES0132945017"/>
          <ticker value="TUB"/>
          <other otherDesc="SEDOL" value="4908735"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EVI LTD</name>
        <lei>N/A</lei>
        <title>EVI LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000EVT1"/>
          <ticker value="EVT"/>
          <other otherDesc="SEDOL" value="BDG0N49"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ALERION CLEAN POWER SPA</name>
        <lei>81560090173FFC67B069</lei>
        <title>ALERION CLEAN POWER SPA NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IT0004720733"/>
          <ticker value="ARN"/>
          <other otherDesc="SEDOL" value="4360487"/>
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        <balance>56839.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KEIO CORP</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3277800003"/>
          <ticker value="9008"/>
          <other otherDesc="SEDOL" value="6487362"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>OBJECTIVE CORP LTD</name>
        <lei>N/A</lei>
        <title>OBJECTIVE CORP LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000OCL7"/>
          <ticker value="OCL"/>
          <other otherDesc="SEDOL" value="6283407"/>
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        <balance>49588.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>INTEGRAFIN HOLDINGS PLC</name>
        <lei>213800CYIZKXK9PQYE87</lei>
        <title>INTEGRAFIN HOLDINGS PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BD45SH49"/>
          <ticker value="IHP"/>
          <other otherDesc="SEDOL" value="BD45SH4"/>
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        <balance>204533.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PRIMA MEAT PACKERS LTD</name>
        <lei>353800FLEUUL20RKCU14</lei>
        <title>PRIMA MEAT PACKERS LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3833200003"/>
          <ticker value="2281"/>
          <other otherDesc="SEDOL" value="6703400"/>
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        <balance>27800.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MAAS GROUP HOLDINGS LTD</name>
        <lei>9845002E61U3EB3DD061</lei>
        <title>MAAS GROUP HOLDINGS LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU0000118564"/>
          <ticker value="MGH"/>
          <other otherDesc="SEDOL" value="BLD4919"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GESTAMP AUTOMOCION SA</name>
        <lei>95980020140005484363</lei>
        <title>GESTAMP AUTOMOCION SA EUR0.5</title>
        <cusip>000000000</cusip>
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          <isin value="ES0105223004"/>
          <ticker value="GEST"/>
          <other otherDesc="SEDOL" value="BD6K6R3"/>
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        <balance>385335.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TRIAL HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>TRIAL HOLDINGS INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3635490000"/>
          <ticker value="141A"/>
          <other otherDesc="SEDOL" value="BMGS119"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>DAINICHISEIKA COLOUR &amp; CHEMICALS MFG CO LTD</name>
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        <cusip>000000000</cusip>
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          <isin value="JP3492200005"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>STROEER SE &amp; CO. KGAA</name>
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        <cusip>000000000</cusip>
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          <isin value="DE0007493991"/>
          <ticker value="SAX"/>
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        <invCountry>DE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>WICKES GROUP PLC</name>
        <lei>213800IEX9ZXJRAOL133</lei>
        <title>WICKES GROUP PLC ORD GBP0.1</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BL6C2002"/>
          <ticker value="WIX"/>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AIXTRON SE</name>
        <lei>5299004UJ4D51M25LD67</lei>
        <title>AIXTRON SE ORD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="DE000A0WMPJ6"/>
          <ticker value="AIXA"/>
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        <invCountry>DE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>WisdomTree Trust</name>
        <lei>549300SEVJBU47TE8855</lei>
        <title>WisdomTree Japan SmallCap Dividend Fund</title>
        <cusip>97717W836</cusip>
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          <ticker value="DFJ"/>
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        <balance>882.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>DAIDO STEEL COMPANY LTD</name>
        <lei>353800WZKGRNG0T2FR92</lei>
        <title>DAIDO STEEL COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3491000000"/>
          <ticker value="5471"/>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>INDUS HOLDING AG</name>
        <lei>529900GE4O7ZOMRWR939</lei>
        <title>INDUS HOLDING AG NPV</title>
        <cusip>000000000</cusip>
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          <isin value="DE0006200108"/>
          <ticker value="INH"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TOKAI HOLDINGS CORP</name>
        <lei>N/A</lei>
        <title>TOKAI HOLDINGS CORP NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3552260006"/>
          <ticker value="3167"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>NIPPON ELECTRIC GLASS CO LTD</name>
        <lei>529900NCIGSAX4V03234</lei>
        <title>NIPPON ELECTRIC GLASS CO LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3733400000"/>
          <ticker value="5214"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>OKAMURA CORP</name>
        <lei>35380084C4I8EO2QWD96</lei>
        <title>OKAMURA CORP NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3192400004"/>
          <ticker value="7994"/>
          <other otherDesc="SEDOL" value="6657842"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>YAMANASHI CHUO BANK LTD (THE)</name>
        <lei>353800DUD9B4IAIADJ68</lei>
        <title>YAMANASHI CHUO BANK LTD (THE) NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3942000005"/>
          <ticker value="8360"/>
          <other otherDesc="SEDOL" value="6985361"/>
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        <balance>12000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SUMITOMO HEAVY INDUSTRIES LTD</name>
        <lei>353800VSTEIRMBC3S374</lei>
        <title>SUMITOMO HEAVY INDUSTRIES LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3405400007"/>
          <ticker value="6302"/>
          <other otherDesc="SEDOL" value="6858731"/>
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        <balance>69200.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DEEP VALUE DRILLER AS</name>
        <lei>549300QEVW47ULJE4O08</lei>
        <title>DEEP VALUE DRILLER AS NOK0.10</title>
        <cusip>000000000</cusip>
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          <isin value="NO0010955917"/>
          <ticker value="DVD"/>
          <other otherDesc="SEDOL" value="BLF8SJ0"/>
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        <balance>296989.00000000</balance>
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        <currencyConditional curCd="NOK" exchangeRt="9.89550000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>IVE GROUP LTD</name>
        <lei>N/A</lei>
        <title>IVE GROUP LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000IGL0"/>
          <ticker value="IGL"/>
          <other otherDesc="SEDOL" value="BD08J52"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SHIN-ETSU POLYMER CO LTD</name>
        <lei>N/A</lei>
        <title>SHIN-ETSU POLYMER CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3371600002"/>
          <ticker value="7970"/>
          <other otherDesc="SEDOL" value="6805704"/>
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        <balance>48800.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MORTGAGE ADVICE BUREAU (HOLDINGS) PLC</name>
        <lei>2138008AY1RA61T6W960</lei>
        <title>MORTGAGE ADVICE BUREAU (HOLDINGS) PLC ORD GBP0.001</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BQSBH502"/>
          <ticker value="MAB1"/>
          <other otherDesc="SEDOL" value="BQSBH50"/>
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        <balance>64569.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PALRAM INDUSTRIES (1990) LTD</name>
        <lei>N/A</lei>
        <title>PALRAM INDUSTRIES (1990) LTD ORD ILS1(NON-VTG)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0006440130"/>
          <ticker value="PLRM"/>
          <other otherDesc="SEDOL" value="6685531"/>
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        <balance>53994.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SENKO GROUP HOLDINGS CO LTD</name>
        <lei>35380077MB9W0NB6BA14</lei>
        <title>SENKO GROUP HOLDINGS CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3423800006"/>
          <ticker value="9069"/>
          <other otherDesc="SEDOL" value="6795203"/>
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        <balance>88800.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AICHI FINANCIAL GROUP INC</name>
        <lei>N/A</lei>
        <title>AICHI FINANCIAL GROUP INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3104790005"/>
          <ticker value="7389"/>
          <other otherDesc="SEDOL" value="BP29PF9"/>
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        <balance>58900.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KEYSTONE LAW GROUP PLC</name>
        <lei>213800RTARHELL51S215</lei>
        <title>KEYSTONE LAW GROUP PLC ORD GBP0.002</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BZ020557"/>
          <ticker value="KEYS"/>
          <other otherDesc="SEDOL" value="BZ02055"/>
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        <balance>67149.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ASPIAL LIFESTYLE LTD</name>
        <lei>9845004K5E0B9X8BLW10</lei>
        <title>ASPIAL LIFESTYLE LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SG2E90982678"/>
          <ticker value="ASPL"/>
          <other otherDesc="SEDOL" value="B89V894"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MERSEN SA</name>
        <lei>OQXDLNM5DTBULYMF5U27</lei>
        <title>MERSEN SA EUR2</title>
        <cusip>000000000</cusip>
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          <isin value="FR0000039620"/>
          <ticker value="MRN"/>
          <other otherDesc="SEDOL" value="5481202"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>FR</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TEL AVIV STOCK EXCHANGE LTD (THE)</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
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          <isin value="IL0011590291"/>
          <ticker value="TASE"/>
          <other otherDesc="SEDOL" value="BK5HCP4"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IL</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>JMDC INC</name>
        <lei>3538002M2SQV6WJ6MQ67</lei>
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        <cusip>000000000</cusip>
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          <isin value="JP3386690006"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>SIA ENGINEERING COMPANY LTD</name>
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        <title>SIA ENGINEERING COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SG1I53882771"/>
          <ticker value="SIE"/>
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      <invstOrSec>
        <name>UNIPHAR PLC</name>
        <lei>21380028LJSQGRUAX965</lei>
        <title>UNIPHAR PLC ORD EUR0.08</title>
        <cusip>000000000</cusip>
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          <isin value="IE00BJ5FQX74"/>
          <ticker value="UPR"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AND ST HD CO LTD</name>
        <lei>353800DZZIJ399PIWU03</lei>
        <title>AND ST HD CO LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3856000009"/>
          <ticker value="2685"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SSP GROUP PLC</name>
        <lei>213800QGNIWTXFMENJ24</lei>
        <title>SSP GROUP PLC ORD GBP0.01085</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BGBN7C04"/>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>COLLINS FOODS LTD</name>
        <lei>529900SNO1ZIFF0A2094</lei>
        <title>COLLINS FOODS LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000CKF7"/>
          <ticker value="CKF"/>
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        <assetCat>EC</assetCat>
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        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NISHI-NIPPON RAILROAD CO LTD</name>
        <lei>353800IYLMHYH4972387</lei>
        <title>NISHI-NIPPON RAILROAD CO LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3658800002"/>
          <ticker value="9031"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>GL EVENTS SA</name>
        <lei>9695002PXZMQNBPY2P44</lei>
        <title>GL EVENTS SA EUR4</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0000066672"/>
          <ticker value="GLO"/>
          <other otherDesc="SEDOL" value="7154104"/>
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        <balance>31902.00000000</balance>
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        <valUSD>1223687.92000000</valUSD>
        <pctVal>0.118916341368</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</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>LINTEC CORP</name>
        <lei>3538002YOJO0IAM1PD28</lei>
        <title>LINTEC CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3977200009"/>
          <ticker value="7966"/>
          <other otherDesc="SEDOL" value="6330080"/>
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        <balance>45630.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>1990565.76000000</valUSD>
        <pctVal>0.193440495377</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALMIRALL SA</name>
        <lei>95980020140005007996</lei>
        <title>ALMIRALL SA EUR0.12</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="ES0157097017"/>
          <ticker value="ALM"/>
          <other otherDesc="SEDOL" value="B1YY662"/>
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        <balance>88381.00000000</balance>
        <units>NS</units>
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        <valUSD>1137778.02000000</valUSD>
        <pctVal>0.110567733174</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COMPUTER ENGINEERING &amp; CONSULTING LTD</name>
        <lei>N/A</lei>
        <title>COMPUTER ENGINEERING &amp; CONSULTING LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3346200003"/>
          <ticker value="9692"/>
          <other otherDesc="SEDOL" value="6215314"/>
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        <balance>13800.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>178565.76000000</valUSD>
        <pctVal>0.017352779679</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MITSUI E&amp;S CO LTD</name>
        <lei>5493007T2YKKWF2NYN82</lei>
        <title>MITSUI E&amp;S CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3891600003"/>
          <ticker value="7003"/>
          <other otherDesc="SEDOL" value="6597380"/>
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        <balance>12700.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <pctVal>0.031126646507</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LION CORP</name>
        <lei>529900MPGS2GM7VPG855</lei>
        <title>LION CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3965400009"/>
          <ticker value="4912"/>
          <other otherDesc="SEDOL" value="6518808"/>
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        <balance>67200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>708902.63000000</valUSD>
        <pctVal>0.068890201307</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FNM SPA</name>
        <lei>815600AB6FA8AADC8739</lei>
        <title>FNM SPA NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IT0000060886"/>
          <ticker value="FNM"/>
          <other otherDesc="SEDOL" value="4641289"/>
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        <balance>868110.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>455562.20000000</valUSD>
        <pctVal>0.044270920064</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="27655.62886650"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FUJIMI INC</name>
        <lei>N/A</lei>
        <title>FUJIMI INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3820900003"/>
          <ticker value="5384"/>
          <other otherDesc="SEDOL" value="6355276"/>
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        <balance>31623.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>890172.13000000</valUSD>
        <pctVal>0.086505726793</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ANSELL LTD</name>
        <lei>549300NEGJ5G23VCJM45</lei>
        <title>ANSELL LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000ANN9"/>
          <ticker value="ANN"/>
          <other otherDesc="SEDOL" value="6286611"/>
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        <balance>70592.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
        <valUSD>1552280.82000000</valUSD>
        <pctVal>0.150848556133</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MUTARES SE &amp; CO. KGAA</name>
        <lei>391200NWMO6NLQFSCU64</lei>
        <title>MUTARES SE &amp; CO. KGAA NPV (REG)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE000A2NB650"/>
          <ticker value="MUX"/>
          <other otherDesc="SEDOL" value="BFYG8K4"/>
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        <balance>32587.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>1013382.78000000</valUSD>
        <pctVal>0.098479171554</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KOGAN.COM LTD</name>
        <lei>529900EOAC36USKQV388</lei>
        <title>KOGAN.COM LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000KGN2"/>
          <ticker value="KGN"/>
          <other otherDesc="SEDOL" value="BYYY339"/>
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        <balance>209028.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
        <valUSD>641528.68000000</valUSD>
        <pctVal>0.062342891730</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BRCK GROUP PLC</name>
        <lei>213800SK28MWXB3K3P26</lei>
        <title>BRCK GROUP PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BK63S759"/>
          <ticker value="BRCK"/>
          <other otherDesc="SEDOL" value="BK63S75"/>
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        <balance>779022.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>511808.39000000</valUSD>
        <pctVal>0.049736848934</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TOSEI CORP</name>
        <lei>N/A</lei>
        <title>TOSEI CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3595070008"/>
          <ticker value="8923"/>
          <other otherDesc="SEDOL" value="6735823"/>
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        <balance>50000.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>521150.59000000</valUSD>
        <pctVal>0.050644711328</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DAIEI KANKYO CO LTD</name>
        <lei>N/A</lei>
        <title>DAIEI KANKYO CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3480470008"/>
          <ticker value="9336"/>
          <other otherDesc="SEDOL" value="BLGVJD9"/>
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        <balance>16200.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>377277.34000000</valUSD>
        <pctVal>0.036663302971</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BARCO NV</name>
        <lei>549300N17QCD827TII61</lei>
        <title>BARCO NV NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BE0974362940"/>
          <ticker value="BAR"/>
          <other otherDesc="SEDOL" value="BMB3BN1"/>
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        <balance>85366.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>818855.24000000</valUSD>
        <pctVal>0.079575247625</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>COSTAIN GROUP PLC</name>
        <lei>213800PKIJBZ2EDTKC88</lei>
        <title>COSTAIN GROUP PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B64NSP76"/>
          <ticker value="COST"/>
          <other otherDesc="SEDOL" value="B64NSP7"/>
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        <balance>220855.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>608243.98000000</valUSD>
        <pctVal>0.059108329483</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INTERPARFUMS SA</name>
        <lei>969500SARWF33OPQED48</lei>
        <title>INTERPARFUMS SA EUR3</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0004024222"/>
          <ticker value="ITP"/>
          <other otherDesc="SEDOL" value="4433839"/>
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        <balance>69299.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>2009261.46000000</valUSD>
        <pctVal>0.195257318283</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</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>RAIZNEXT CORP</name>
        <lei>N/A</lei>
        <title>RAIZNEXT CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3331600001"/>
          <ticker value="6379"/>
          <other otherDesc="SEDOL" value="6774989"/>
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        <balance>30500.00000000</balance>
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        <pctVal>0.041051216433</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</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>FIERA MILANO SPA</name>
        <lei>81560026FB4FD48C6110</lei>
        <title>FIERA MILANO SPA NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IT0003365613"/>
          <ticker value="FM"/>
          <other otherDesc="SEDOL" value="7518324"/>
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        <balance>108437.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
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        <pctVal>0.101683630770</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</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>TATTON ASSET MANAGEMENT PLC</name>
        <lei>213800G2F8I1N7HTVP88</lei>
        <title>TATTON ASSET MANAGEMENT PLC ORD GBP0.20</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BYX1P358"/>
          <ticker value="TAM"/>
          <other otherDesc="SEDOL" value="BYX1P35"/>
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        <balance>55016.00000000</balance>
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        <valUSD>543268.38000000</valUSD>
        <pctVal>0.052794088324</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>OSAKA SODA CO LTD</name>
        <lei>N/A</lei>
        <title>OSAKA SODA CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3485900009"/>
          <ticker value="4046"/>
          <other otherDesc="SEDOL" value="6661780"/>
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        <balance>20700.00000000</balance>
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        <valUSD>239955.70000000</valUSD>
        <pctVal>0.023318571237</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GOLDWIN INC</name>
        <lei>N/A</lei>
        <title>GOLDWIN INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3306600002"/>
          <ticker value="8111"/>
          <other otherDesc="SEDOL" value="6376169"/>
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        <balance>42200.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>564484.23000000</valUSD>
        <pctVal>0.054855816008</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DAH SING BANKING GROUP LTD</name>
        <lei>529900DXBMKJOLLQOM66</lei>
        <title>DAH SING BANKING GROUP LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="HK2356013600"/>
          <ticker value="2356"/>
          <other otherDesc="SEDOL" value="B01G0P1"/>
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        <balance>2601200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84205000"/>
        <valUSD>3837757.22000000</valUSD>
        <pctVal>0.372948069685</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HANSEN TECHNOLOGIES LTD</name>
        <lei>N/A</lei>
        <title>HANSEN TECHNOLOGIES LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000HSN3"/>
          <ticker value="HSN"/>
          <other otherDesc="SEDOL" value="6243252"/>
        </identifiers>
        <balance>161236.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
        <valUSD>495967.10000000</valUSD>
        <pctVal>0.048197413741</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HARMONIC DRIVE SYSTEMS INC</name>
        <lei>353800XFIX2EUARGOE85</lei>
        <title>HARMONIC DRIVE SYSTEMS INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3765150002"/>
          <ticker value="6324"/>
          <other otherDesc="SEDOL" value="6108179"/>
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        <balance>7400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>354690.05000000</valUSD>
        <pctVal>0.034468300598</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DAH SING FINANCIAL HOLDINGS LTD</name>
        <lei>529900J55QMXMR5KMH32</lei>
        <title>DAH SING FINANCIAL HOLDINGS LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="HK0440001847"/>
          <ticker value="440"/>
          <other otherDesc="SEDOL" value="6249799"/>
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        <balance>597829.00000000</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.84205000"/>
        <valUSD>2875537.63000000</valUSD>
        <pctVal>0.279440867918</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ENERGIXS-RENEWABLE ENERGIES LTD</name>
        <lei>N/A</lei>
        <title>ENERGIXS-RENEWABLE ENERGIES LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0011233553"/>
          <ticker value="ENRG"/>
          <other otherDesc="SEDOL" value="B469X43"/>
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        <balance>277732.00000000</balance>
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        <currencyConditional curCd="ILS" exchangeRt="2.97945000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ALLIGO AB</name>
        <lei>549300AZV2TAMUBEZS90</lei>
        <title>ALLIGO AB SER'B'NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0009922305"/>
          <ticker value="ALLIGOB"/>
          <other otherDesc="SEDOL" value="BF345V9"/>
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        <balance>37935.00000000</balance>
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        <pctVal>0.050736771580</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</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>CMC MARKETS PLC</name>
        <lei>213800VB75KAZBFH5U07</lei>
        <title>CMC MARKETS PLC ORD GBP0.25</title>
        <cusip>000000000</cusip>
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          <isin value="GB00B14SKR37"/>
          <ticker value="CMCX"/>
          <other otherDesc="SEDOL" value="B14SKR3"/>
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        <balance>344055.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</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>NISSHINBO HOLDINGS INC</name>
        <lei>353800YAM89GL5GPHB47</lei>
        <title>NISSHINBO HOLDINGS INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3678000005"/>
          <ticker value="3105"/>
          <other otherDesc="SEDOL" value="6642923"/>
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        <balance>52100.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <pctVal>0.077101640862</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>IWAICOSMO HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>IWAICOSMO HOLDINGS INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3149950002"/>
          <ticker value="8707"/>
          <other otherDesc="SEDOL" value="B0WGLX5"/>
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        <balance>14100.00000000</balance>
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        <pctVal>0.033596817033</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DOMINO'S PIZZA GROUP PLC</name>
        <lei>213800Q6ZKHAOV48JL75</lei>
        <title>DOMINO'S PIZZA GROUP PLC ORD GBP0.00520833</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BYN59130"/>
          <ticker value="DOM"/>
          <other otherDesc="SEDOL" value="BYN5913"/>
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        <balance>517845.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>YU GROUP PLC</name>
        <lei>213800ACO9GDDBM7DS35</lei>
        <title>YU GROUP PLC ORD GBP0.005</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BYQDPD80"/>
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          <other otherDesc="SEDOL" value="BYQDPD8"/>
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        <balance>24135.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TAKEUCHI MANUFACTURING CO LTD</name>
        <lei>N/A</lei>
        <title>TAKEUCHI MANUFACTURING CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3462660006"/>
          <ticker value="6432"/>
          <other otherDesc="SEDOL" value="6565031"/>
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        <balance>28900.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SHENG SIONG GROUP LTD</name>
        <lei>N/A</lei>
        <title>SHENG SIONG GROUP LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SG2D54973185"/>
          <ticker value="SSG"/>
          <other otherDesc="SEDOL" value="B657MH8"/>
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        <assetCat>EC</assetCat>
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        <invCountry>SG</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GWA GROUP LTD</name>
        <lei>N/A</lei>
        <title>GWA GROUP LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000GWA4"/>
          <ticker value="GWA"/>
          <other otherDesc="SEDOL" value="6392949"/>
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        <assetCat>EC</assetCat>
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        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>VENTIA SERVICES GROUP LTD</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
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          <isin value="AU0000184459"/>
          <ticker value="VNT"/>
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        <assetCat>EC</assetCat>
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        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>A.G. BARR PLC</name>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MAGELLAN FINANCIAL GROUP LTD</name>
        <lei>549300X5WFW6USQQ9U26</lei>
        <title>MAGELLAN FINANCIAL GROUP LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000MFG4"/>
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        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>GRANGES AB</name>
        <lei>5493006UG44TYSIXOB13</lei>
        <title>GRANGES AB NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SE0006288015"/>
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          <other otherDesc="SEDOL" value="BRJ3BP0"/>
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        <assetCat>EC</assetCat>
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        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>PROCREDIT HOLDING AG</name>
        <lei>529900LIN8L1K9MLTR09</lei>
        <title>PROCREDIT HOLDING AG EUR5</title>
        <cusip>000000000</cusip>
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          <isin value="DE0006223407"/>
          <ticker value="PCZ"/>
          <other otherDesc="SEDOL" value="BYZCP69"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HOKUETSU CORP</name>
        <lei>549300CBTMD053ZJ7C79</lei>
        <title>HOKUETSU CORP NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3841800000"/>
          <ticker value="3865"/>
          <other otherDesc="SEDOL" value="6433105"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PROSIEBENSAT.1 MEDIA SE</name>
        <lei>529900NY0WWQUKOMWQ37</lei>
        <title>PROSIEBENSAT.1 MEDIA SE NPV</title>
        <cusip>000000000</cusip>
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          <isin value="DE000PSM7770"/>
          <ticker value="PSM"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</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>PARATUS ENERGY SERVICES LTD</name>
        <lei>549300XB7T5BX418QX67</lei>
        <title>PARATUS ENERGY SERVICES LTD USD0.00002</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG6904D1083"/>
          <ticker value="PLSV"/>
          <other otherDesc="SEDOL" value="BLCCJ92"/>
        </identifiers>
        <balance>253076.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="9.89550000"/>
        <valUSD>1181558.41000000</valUSD>
        <pctVal>0.114822252417</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BOUVET ASA</name>
        <lei>5967007LIEEXZXFMBC26</lei>
        <title>BOUVET ASA NOK0.10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NO0010360266"/>
          <ticker value="BOUV"/>
          <other otherDesc="SEDOL" value="B1XGD46"/>
        </identifiers>
        <balance>158702.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="9.89550000"/>
        <valUSD>688823.29000000</valUSD>
        <pctVal>0.066938918131</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VGP NV</name>
        <lei>315700NENYPIXFR94T49</lei>
        <title>VGP NV NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BE0003878957"/>
          <ticker value="VGP"/>
          <other otherDesc="SEDOL" value="B29L881"/>
        </identifiers>
        <balance>18140.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>1746262.84000000</valUSD>
        <pctVal>0.169699467164</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TOMOKU CO LTD</name>
        <lei>353800L6Q5CBPI6NIQ21</lei>
        <title>TOMOKU CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3554000004"/>
          <ticker value="3946"/>
          <other otherDesc="SEDOL" value="6896311"/>
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        <balance>12400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>295265.34000000</valUSD>
        <pctVal>0.028693487442</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ACKERSTEIN GROUP LTD</name>
        <lei>N/A</lei>
        <title>ACKERSTEIN GROUP LTD NPV ORD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0011762056"/>
          <ticker value="ACKR"/>
          <other otherDesc="SEDOL" value="BM9Y6T7"/>
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        <balance>187052.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="2.97945000"/>
        <valUSD>522712.23000000</valUSD>
        <pctVal>0.050796469397</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="100209.89108738"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FORFARMERS NV</name>
        <lei>724500YEIHQKMHTXW058</lei>
        <title>FORFARMERS NV EUR0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL0011832811"/>
          <ticker value="FFARM"/>
          <other otherDesc="SEDOL" value="BD6S9Q7"/>
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        <balance>155241.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>1103969.45000000</valUSD>
        <pctVal>0.107282261948</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SWIRE PACIFIC LTD</name>
        <lei>549300KZOZHII0DGF611</lei>
        <title>SWIRE PACIFIC LTD 'B' NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="HK0087000532"/>
          <ticker value="87"/>
          <other otherDesc="SEDOL" value="6867760"/>
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        <balance>1887500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84205000"/>
        <valUSD>2998992.61000000</valUSD>
        <pctVal>0.291438056339</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FLEETWOOD LTD</name>
        <lei>549300LT0ZUXCGI95197</lei>
        <title>FLEETWOOD LTD ORD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000FWD0"/>
          <ticker value="FWD"/>
          <other otherDesc="SEDOL" value="6341855"/>
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        <balance>314207.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
        <valUSD>395093.94000000</valUSD>
        <pctVal>0.038394696126</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BROOKS MACDONALD GROUP PLC</name>
        <lei>213800WRDF8LB8MIEX37</lei>
        <title>BROOKS MACDONALD GROUP PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B067N833"/>
          <ticker value="BRK"/>
          <other otherDesc="SEDOL" value="B067N83"/>
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        <balance>23157.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>384188.88000000</valUSD>
        <pctVal>0.037334957105</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NOMURA CO LTD</name>
        <lei>N/A</lei>
        <title>NOMURA CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3762400004"/>
          <ticker value="9716"/>
          <other otherDesc="SEDOL" value="6646237"/>
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        <balance>69200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>461120.44000000</valUSD>
        <pctVal>0.044811062329</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MICHELMERSH BRICK HOLDINGS PLC</name>
        <lei>213800CIFQFPAHIQE695</lei>
        <title>MICHELMERSH BRICK HOLDINGS PLC ORD GBP0.2</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B013H060"/>
          <ticker value="MBH"/>
          <other otherDesc="SEDOL" value="B013H06"/>
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        <balance>349225.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>370806.89000000</valUSD>
        <pctVal>0.036034513369</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="162027.39973301"/>
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      </invstOrSec>
      <invstOrSec>
        <name>ITOCHU ENEX COMPANY LTD</name>
        <lei>549300WO21DGCU3JY132</lei>
        <title>ITOCHU ENEX COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3144000001"/>
          <ticker value="8133"/>
          <other otherDesc="SEDOL" value="6467825"/>
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        <balance>81901.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>1005337.61000000</valUSD>
        <pctVal>0.097697352786</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>COHORT PLC</name>
        <lei>213800WE61C73LZZNW11</lei>
        <title>COHORT PLC ORD GBP0.10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B0YD2B94"/>
          <ticker value="CHRT"/>
          <other otherDesc="SEDOL" value="B0YD2B9"/>
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        <balance>31009.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>506227.06000000</valUSD>
        <pctVal>0.049194462814</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CEMENTIR HOLDING NV</name>
        <lei>8156008B101B97A43B02</lei>
        <title>CEMENTIR HOLDING NV EUR1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL0013995087"/>
          <ticker value="CEM"/>
          <other otherDesc="SEDOL" value="BKRWS93"/>
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        <balance>72437.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
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        <pctVal>0.117099368806</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ATREYU CAPITAL MARKETS LTD</name>
        <lei>N/A</lei>
        <title>ATREYU CAPITAL MARKETS LTD ILS0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0010961063"/>
          <ticker value="ATRY"/>
          <other otherDesc="SEDOL" value="B116X26"/>
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        <balance>27607.00000000</balance>
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        <currencyConditional curCd="ILS" exchangeRt="2.97945000"/>
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        <pctVal>0.060023219837</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INGENIA COMMUNITIES GROUP</name>
        <lei>N/A</lei>
        <title>INGENIA COMMUNITIES GROUP NPV (UNITS)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000INA9"/>
          <ticker value="INA"/>
          <other otherDesc="SEDOL" value="B84GSC7"/>
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        <balance>225799.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
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        <pctVal>0.067192845947</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>TAMAR PETROLEUM LTD</name>
        <lei>N/A</lei>
        <title>TAMAR PETROLEUM LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0011413577"/>
          <ticker value="TMRP"/>
          <other otherDesc="SEDOL" value="BDC3QV0"/>
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        <balance>56962.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UT GROUP CO LTD</name>
        <lei>N/A</lei>
        <title>UT GROUP CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3949500007"/>
          <ticker value="2146"/>
          <other otherDesc="SEDOL" value="B1V04K3"/>
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        <balance>597000.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PIHLAJALINNA OYJ</name>
        <lei>74370058MTRLEDOCHV67</lei>
        <title>PIHLAJALINNA OYJ NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FI4000092556"/>
          <ticker value="PIHLIS"/>
          <other otherDesc="SEDOL" value="BYZFLR1"/>
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        <balance>26722.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GB GROUP PLC</name>
        <lei>213800RBAFZIBCV7XR29</lei>
        <title>GB GROUP PLC ORD GBP0.025</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0006870611"/>
          <ticker value="GBG"/>
          <other otherDesc="SEDOL" value="0687061"/>
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        <balance>120289.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</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>CERILLION PLC</name>
        <lei>213800ISIZMUC3P46850</lei>
        <title>CERILLION PLC ORD GBP0.005</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BYYX6C66"/>
          <ticker value="CER"/>
          <other otherDesc="SEDOL" value="BYYX6C6"/>
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        <balance>22275.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RETAILORS LTD</name>
        <lei>2549006QHZTQOYRBB695</lei>
        <title>RETAILORS LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0011754889"/>
          <ticker value="RTLS"/>
          <other otherDesc="SEDOL" value="BMC2Y16"/>
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        <balance>40086.00000000</balance>
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        <valUSD>329626.94000000</valUSD>
        <pctVal>0.032032701377</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EZAKI GLICO CO LTD</name>
        <lei>3538001RG4BHKDFV6G61</lei>
        <title>EZAKI GLICO CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3161200005"/>
          <ticker value="2206"/>
          <other otherDesc="SEDOL" value="6327703"/>
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        <balance>13800.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>453844.02000000</valUSD>
        <pctVal>0.044103949649</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CLOETTA AB</name>
        <lei>549300CSLHPO6Y1AZN37</lei>
        <title>CLOETTA AB SER'B'NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0002626861"/>
          <ticker value="CLAB"/>
          <other otherDesc="SEDOL" value="B3K5QQ3"/>
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        <balance>287254.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.67815000"/>
        <valUSD>1459695.47000000</valUSD>
        <pctVal>0.141851236714</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</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>KITZ CORP</name>
        <lei>52990071D57KBWPS6S92</lei>
        <title>KITZ CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3240700009"/>
          <ticker value="6498"/>
          <other otherDesc="SEDOL" value="6494276"/>
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        <balance>58500.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>908860.18000000</valUSD>
        <pctVal>0.088321806282</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</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>TRAVIS PERKINS PLC</name>
        <lei>2138001I27OUBAF22K83</lei>
        <title>TRAVIS PERKINS PLC ORD GBP0.11205105</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BK9RKT01"/>
          <ticker value="TPK"/>
          <other otherDesc="SEDOL" value="BK9RKT0"/>
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        <balance>112762.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>826889.60000000</valUSD>
        <pctVal>0.080356015892</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PETS AT HOME GROUP PLC</name>
        <lei>2138003Y9ULD24PD3J93</lei>
        <title>PETS AT HOME GROUP PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BJ62K685"/>
          <ticker value="PETS"/>
          <other otherDesc="SEDOL" value="BJ62K68"/>
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        <balance>578718.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>1362614.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ISHIHARA SANGYO KAISHA LTD</name>
        <lei>N/A</lei>
        <title>ISHIHARA SANGYO KAISHA LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3136800004"/>
          <ticker value="4028"/>
          <other otherDesc="SEDOL" value="6466866"/>
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        <balance>40100.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SHAPE AUSTRALIA CORP LTD</name>
        <lei>N/A</lei>
        <title>SHAPE AUSTRALIA CORP LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU0000189292"/>
          <ticker value="SHA"/>
          <other otherDesc="SEDOL" value="BP9SCF8"/>
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        <balance>171678.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
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        <pctVal>0.080907994517</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SENSHU IKEDA HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>SENSHU IKEDA HOLDINGS INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3132600002"/>
          <ticker value="8714"/>
          <other otherDesc="SEDOL" value="B40T3T4"/>
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        <balance>89900.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>540976.47000000</valUSD>
        <pctVal>0.052571363602</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>IPSOS SA</name>
        <lei>9695002OY2X35E9X8W87</lei>
        <title>IPSOS SA EUR0.25</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0000073298"/>
          <ticker value="IPS"/>
          <other otherDesc="SEDOL" value="B188NJ2"/>
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        <balance>44684.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>1779878.79000000</valUSD>
        <pctVal>0.172966219839</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KAUFMAN &amp; BROAD SA</name>
        <lei>969500CE0X343D8ALO86</lei>
        <title>KAUFMAN &amp; BROAD SA EUR0.26</title>
        <cusip>000000000</cusip>
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          <isin value="FR0004007813"/>
          <ticker value="KOF"/>
          <other otherDesc="SEDOL" value="B138HB7"/>
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        <balance>36489.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HUTCHISON TELECOMMUNICATIONS HONG KONG HOLDINGS LTD</name>
        <lei>254900ZIRESZ56ME6215</lei>
        <title>HUTCHISON TELECOMMUNICATIONS HONG KONG HOLDINGS LTD HKD0.25</title>
        <cusip>000000000</cusip>
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          <isin value="KYG4672G1064"/>
          <ticker value="215"/>
          <other otherDesc="SEDOL" value="B3XH0P3"/>
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        <balance>7946000.00000000</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.84205000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GREGGS PLC</name>
        <lei>213800I71QMUFJ64IW20</lei>
        <title>GREGGS PLC ORD GBP0.02</title>
        <cusip>000000000</cusip>
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          <isin value="GB00B63QSB39"/>
          <ticker value="GRG"/>
          <other otherDesc="SEDOL" value="B63QSB3"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NIPPON GAS CO LTD</name>
        <lei>549300N3DC5V2XON9C60</lei>
        <title>NIPPON GAS CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3695600001"/>
          <ticker value="8174"/>
          <other otherDesc="SEDOL" value="6640068"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PPHE HOTEL GROUP LTD</name>
        <lei>2138003H1BZGR6KM5823</lei>
        <title>PPHE HOTEL GROUP LTD ORD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="GG00B1Z5FH87"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>STARHUB LTD</name>
        <lei>254900993L0UTJFD3A68</lei>
        <title>STARHUB LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SG1V12936232"/>
          <ticker value="STH"/>
          <other otherDesc="SEDOL" value="B1CNDB5"/>
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        <assetCat>EC</assetCat>
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        <invCountry>SG</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>WESURE GLOBAL TECH LTD</name>
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        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>IL</invCountry>
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      <invstOrSec>
        <name>SERIA COMPANY LTD</name>
        <lei>N/A</lei>
        <title>SERIA COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3423520000"/>
          <ticker value="2782"/>
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        <invCountry>JP</invCountry>
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        <name>EUROPRIS ASA</name>
        <lei>5967007LIEEXZXGA8G28</lei>
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          <ticker value="EPR"/>
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      <invstOrSec>
        <name>BRUNEL INTERNATIONAL NV</name>
        <lei>724500Y5L5UIEYCJCZ03</lei>
        <title>BRUNEL INTERNATIONAL NV EUR0.03</title>
        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>NL</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HUNTING PLC</name>
        <lei>2138008S5FL78ITZRN66</lei>
        <title>HUNTING PLC ORD GBP0.25</title>
        <cusip>000000000</cusip>
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          <isin value="GB0004478896"/>
          <ticker value="HTG"/>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>INVISIO AB</name>
        <lei>54930054EB7KX3MY2Q11</lei>
        <title>INVISIO AB NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0001200015"/>
          <ticker value="IVSO"/>
          <other otherDesc="SEDOL" value="B06G108"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>EVS SA</name>
        <lei>549300J0AJACIPKLTD62</lei>
        <title>EVS SA NPV</title>
        <cusip>000000000</cusip>
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          <isin value="BE0003820371"/>
          <ticker value="EVS"/>
          <other otherDesc="SEDOL" value="B08CHG2"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>SOCIETE BIC SA</name>
        <lei>969500UR00DF63I0VH67</lei>
        <title>SOCIETE BIC SA EUR3.82</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0000120966"/>
          <ticker value="BB"/>
          <other otherDesc="SEDOL" value="5298781"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>NEXT 15 GROUP PLC</name>
        <lei>213800BK9MBUZUUPMZ63</lei>
        <title>NEXT 15 GROUP PLC ORD GBP0.025</title>
        <cusip>000000000</cusip>
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          <isin value="GB0030026057"/>
          <ticker value="NFG"/>
          <other otherDesc="SEDOL" value="3002605"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>PREMIER INVESTMENTS LTD</name>
        <lei>N/A</lei>
        <title>PREMIER INVESTMENTS LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000PMV2"/>
          <ticker value="PMV"/>
          <other otherDesc="SEDOL" value="6699781"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DUNI AB</name>
        <lei>549300MWQEN1427O5L53</lei>
        <title>DUNI AB NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0000616716"/>
          <ticker value="DUNI"/>
          <other otherDesc="SEDOL" value="B03RSL4"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TEIJIN LTD</name>
        <lei>3538000RF6UCIMPKCO54</lei>
        <title>TEIJIN LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3544000007"/>
          <ticker value="3401"/>
          <other otherDesc="SEDOL" value="6880507"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ASHTROM GROUP LTD</name>
        <lei>N/A</lei>
        <title>ASHTROM GROUP LTD ILS0.01</title>
        <cusip>000000000</cusip>
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          <isin value="IL0011323156"/>
          <ticker value="ASHG"/>
          <other otherDesc="SEDOL" value="BN5SBF1"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KELLER GROUP PLC</name>
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        <title>KELLER GROUP PLC ORD GBP0.10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0004866223"/>
          <ticker value="KLR"/>
          <other otherDesc="SEDOL" value="0486622"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NOJIMA CORP</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3761600000"/>
          <ticker value="7419"/>
          <other otherDesc="SEDOL" value="6616876"/>
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        <balance>61900.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KIER GROUP PLC</name>
        <lei>2138002RKCU2OM4Y7O48</lei>
        <title>KIER GROUP PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0004915632"/>
          <ticker value="KIE"/>
          <other otherDesc="SEDOL" value="0491563"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TOHO HOLDINGS COMPANY LTD</name>
        <lei>353800Z8BQ3ZHELA4J90</lei>
        <title>TOHO HOLDINGS COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3602600003"/>
          <ticker value="8129"/>
          <other otherDesc="SEDOL" value="6895556"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FUTABA INDUSTRIAL CO LTD</name>
        <lei>N/A</lei>
        <title>FUTABA INDUSTRIAL CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3824000008"/>
          <ticker value="7241"/>
          <other otherDesc="SEDOL" value="6357744"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>KYOKUTO KAIHATSU KOGYO CO LTD</name>
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        <cusip>000000000</cusip>
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          <isin value="JP3256900006"/>
          <ticker value="7226"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ADDNODE GROUP AB</name>
        <lei>213800CQXEA3W1YWXZ31</lei>
        <title>ADDNODE GROUP AB SER'B'NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SE0017885767"/>
          <ticker value="ANODB"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>KANSAI PAINT CO LTD</name>
        <lei>549300ERRV6FTKH9NN70</lei>
        <title>KANSAI PAINT CO LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3229400001"/>
          <ticker value="4613"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>INFICON HOLDING AG</name>
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        <assetCat>EC</assetCat>
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        <invCountry>CH</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>HYAKUJUSHI BANK LTD (THE)</name>
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        <title>HYAKUJUSHI BANK LTD (THE) NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3794200000"/>
          <ticker value="8386"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TOPY INDUSTRIES LTD</name>
        <lei>N/A</lei>
        <title>TOPY INDUSTRIES LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3630200008"/>
          <ticker value="7231"/>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>SUPPLY NETWORK LTD</name>
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        <cusip>000000000</cusip>
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          <isin value="AU000000SNL5"/>
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        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>ODFJELL DRILLING LTD</name>
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        <title>ODFJELL DRILLING LTD USD0.01</title>
        <cusip>000000000</cusip>
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          <ticker value="ODL"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ABACUS GROUP</name>
        <lei>N/A</lei>
        <title>ABACUS GROUP NPV (STAPLED)</title>
        <cusip>000000000</cusip>
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          <ticker value="ABG"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BEIJER ALMA AB</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ROLAND CORP</name>
        <lei>N/A</lei>
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          <isin value="JP3983400007"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>EUROCOMMERCIAL PROPERTIES NV</name>
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          <isin value="NL0015000K93"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NINETY ONE PLC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>NAGASE &amp; CO. LTD</name>
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          <isin value="JP3647800006"/>
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        <fairValLevel>1</fairValLevel>
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        <name>PULLUP ENTERTAINMENT SA</name>
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        <fairValLevel>1</fairValLevel>
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        <name>ORIGIN ENTERPRISES PLC</name>
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        <invCountry>IE</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>CASIO COMPUTER CO LTD</name>
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          <isin value="JP3209000003"/>
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        <fairValLevel>1</fairValLevel>
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        <name>REDOX LTD</name>
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        <cusip>000000000</cusip>
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          <isin value="AU0000284895"/>
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        <assetCat>EC</assetCat>
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        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>WORKSPACE GROUP PLC</name>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>SINFONIA TECHNOLOGY COMPANY LTD</name>
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          <isin value="JP3375400003"/>
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        <fairValLevel>1</fairValLevel>
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        <name>BANK OF NAGOYA LTD (THE)</name>
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          <isin value="JP3648800005"/>
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        <fairValLevel>1</fairValLevel>
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        <name>NISSEI ASB MACHINE COMPANY LTD</name>
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        <name>YAMAGATA BANK LTD (THE)</name>
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        <name>NRW HOLDINGS LTD</name>
        <lei>5493003S2MORCH0HEL95</lei>
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        <name>PEAB AB</name>
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        <name>SEIREN CO LTD</name>
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        <name>IPD GROUP LTD</name>
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        <name>FASTPARTNER AB</name>
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        <name>TABCORP HOLDINGS LTD</name>
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        <name>NPR-RIKEN CORP</name>
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        <name>CLARIANT AG</name>
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        <assetCat>EC</assetCat>
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        <invCountry>CH</invCountry>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>G8 EDUCATION LTD</name>
        <lei>5299008FNTQ0LDQ3UZ44</lei>
        <title>G8 EDUCATION LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000GEM7"/>
          <ticker value="GEM"/>
          <other otherDesc="SEDOL" value="B296314"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>REGIS HEALTHCARE LTD</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
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          <isin value="AU000000REG6"/>
          <ticker value="REG"/>
          <other otherDesc="SEDOL" value="BQV68F9"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>SCANDI STANDARD AB</name>
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        <cusip>000000000</cusip>
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          <isin value="SE0005999760"/>
          <ticker value="SCST"/>
          <other otherDesc="SEDOL" value="BNJZRJ4"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MITSUBISHI LOGISTICS CORP</name>
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        <cusip>000000000</cusip>
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          <isin value="JP3902000003"/>
          <ticker value="9301"/>
          <other otherDesc="SEDOL" value="6596848"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ELCO LTD</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
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          <isin value="IL0006940345"/>
          <ticker value="ELCO"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>VULCAN STEEL LTD</name>
        <lei>98450060022AC677C824</lei>
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        <cusip>000000000</cusip>
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          <isin value="AU0000181984"/>
          <ticker value="VSL"/>
          <other otherDesc="SEDOL" value="BMG3PV2"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NZ</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DOWA HOLDINGS COMPANY LTD</name>
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        <title>DOWA HOLDINGS COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3638600001"/>
          <ticker value="5714"/>
          <other otherDesc="SEDOL" value="6278306"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SUNEVISION HOLDINGS LTD</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
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          <isin value="KYG857001054"/>
          <ticker value="1686"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HUMANA AB</name>
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        <cusip>000000000</cusip>
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          <isin value="SE0008040653"/>
          <ticker value="HUM"/>
          <other otherDesc="SEDOL" value="BYZJ8V6"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>INTERNATIONAL WORKPLACE GROUP PLC</name>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AUTOMATIC BANK SERVICES LTD</name>
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        <fairValLevel>1</fairValLevel>
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        <name>SHAVER SHOP GROUP LTD</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>DALRYMPLE BAY INFRASTRUCTURE LTD</name>
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        <fairValLevel>1</fairValLevel>
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        <name>NIPPN CORP</name>
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        <name>ANRITSU CORP</name>
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        <name>KOKUYO CO LTD</name>
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        <name>VEIDEKKE ASA</name>
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        <name>DREY INST PREF GOV MM-M</name>
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        <name>CARASSO REAL ESTATE LTD</name>
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        <name>BAHNHOF AB</name>
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        <name>COREM PROPERTY GROUP AB</name>
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        <title>COREM PROPERTY GROUP AB SER'B'NPV</title>
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        <assetCat>EC</assetCat>
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        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>XPS PENSIONS GROUP PLC</name>
        <lei>2138004Y8OBPJEAACJ11</lei>
        <title>XPS PENSIONS GROUP PLC ORD GBP0.0005</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BDDN1T20"/>
          <ticker value="XPS"/>
          <other otherDesc="SEDOL" value="BDDN1T2"/>
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        <balance>199442.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
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        <pctVal>0.079101566811</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HAZAMA ANDO CORP</name>
        <lei>353800YSSP5B2GMQ6E51</lei>
        <title>HAZAMA ANDO CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3767810009"/>
          <ticker value="1719"/>
          <other otherDesc="SEDOL" value="6687991"/>
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        <balance>207200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>2287773.57000000</valUSD>
        <pctVal>0.222322749433</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>NORCONSULT ASA</name>
        <lei>635400VFBLRSFRXLGQ03</lei>
        <title>NORCONSULT ASA NOK0.02</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NO0013052209"/>
          <ticker value="NORCO"/>
          <other otherDesc="SEDOL" value="BMTQPF2"/>
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        <balance>357844.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="9.89550000"/>
        <valUSD>1301842.66000000</valUSD>
        <pctVal>0.126511313574</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EXOSENS SA</name>
        <lei>969500R3AKTPEDO9EG76</lei>
        <title>EXOSENS SA EUR0.425</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR001400Q9V2"/>
          <ticker value="EXENS"/>
          <other otherDesc="SEDOL" value="BQKMP24"/>
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        <balance>7744.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
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        <pctVal>0.049128392993</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BLOOMSBURY PUBLISHING PLC</name>
        <lei>213800ZL2PEC4C6UOQ53</lei>
        <title>BLOOMSBURY PUBLISHING PLC ORD GBP0.0125</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0033147751"/>
          <ticker value="BMY"/>
          <other otherDesc="SEDOL" value="3314775"/>
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        <balance>77084.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>635343.11000000</valUSD>
        <pctVal>0.061741786381</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SOGEFI SPA</name>
        <lei>5493005HPJ40IY377O47</lei>
        <title>SOGEFI SPA EUR0.52</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IT0000076536"/>
          <ticker value="SGF"/>
          <other otherDesc="SEDOL" value="4820668"/>
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        <balance>278594.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>656144.08000000</valUSD>
        <pctVal>0.063763196586</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CHEMRING GROUP PLC</name>
        <lei>213800U9A54VQJ5P2J41</lei>
        <title>CHEMRING GROUP PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B45C9X44"/>
          <ticker value="CHG"/>
          <other otherDesc="SEDOL" value="B45C9X4"/>
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        <balance>111815.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>759840.62000000</valUSD>
        <pctVal>0.073840286462</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TELECOM PLUS PLC</name>
        <lei>549300QGHDX5UKE58G86</lei>
        <title>TELECOM PLUS PLC ORD GBP0.05</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0008794710"/>
          <ticker value="TEP"/>
          <other otherDesc="SEDOL" value="0879471"/>
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        <balance>81805.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>806716.88000000</valUSD>
        <pctVal>0.078395658175</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NIB HOLDINGS LTD</name>
        <lei>529900SPKHL951XMJC07</lei>
        <title>NIB HOLDINGS LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000NHF0"/>
          <ticker value="NHF"/>
          <other otherDesc="SEDOL" value="B28ZM60"/>
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        <balance>390528.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
        <valUSD>1910138.08000000</valUSD>
        <pctVal>0.185624641927</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MIRAIT ONE CORP</name>
        <lei>353800RI3EZVEIDAEL62</lei>
        <title>MIRAIT ONE CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3910620008"/>
          <ticker value="1417"/>
          <other otherDesc="SEDOL" value="B64KR62"/>
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        <balance>35900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>851306.57000000</valUSD>
        <pctVal>0.082728824100</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BIG YELLOW GROUP PLC</name>
        <lei>213800W7Q4V2ZI8LIW31</lei>
        <title>BIG YELLOW GROUP PLC ORD GBP0.10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0002869419"/>
          <ticker value="BYG"/>
          <other otherDesc="SEDOL" value="0286941"/>
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        <balance>156964.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>1880181.38000000</valUSD>
        <pctVal>0.182713490232</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MORINAGA MILK INDUSTRY CO LTD</name>
        <lei>529900FB91P7MVO08949</lei>
        <title>MORINAGA MILK INDUSTRY CO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3926800008"/>
          <ticker value="2264"/>
          <other otherDesc="SEDOL" value="6602648"/>
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        <balance>122400.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>YOUGOV PLC</name>
        <lei>213800MZGBGCJIPOBB41</lei>
        <title>YOUGOV PLC ORD GBP0.002</title>
        <cusip>000000000</cusip>
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          <isin value="GB00B1VQ6H25"/>
          <ticker value="YOU"/>
          <other otherDesc="SEDOL" value="B1VQ6H2"/>
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        <balance>145314.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PROSEGUR CASH SA</name>
        <lei>9598005HY5DEFPU2SM35</lei>
        <title>PROSEGUR CASH SA EUR0.02</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="ES0105229001"/>
          <ticker value="CASH"/>
          <other otherDesc="SEDOL" value="BDH3Q71"/>
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        <balance>1218501.00000000</balance>
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        <pctVal>0.085696029413</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CONSTRUCCIONES Y AUXILIAR DE FERROCARRILES SA</name>
        <lei>95980020140005275134</lei>
        <title>CONSTRUCCIONES Y AUXILIAR DE FERROCARRILES SA EUR0.301</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="ES0121975009"/>
          <ticker value="CAF"/>
          <other otherDesc="SEDOL" value="BYX98X0"/>
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        <balance>26685.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>INROM CONSTRUCTION INDUSTRIES LTD</name>
        <lei>N/A</lei>
        <title>INROM CONSTRUCTION INDUSTRIES LTD ILS0.01</title>
        <cusip>000000000</cusip>
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          <isin value="IL0011323560"/>
          <ticker value="INRM"/>
          <other otherDesc="SEDOL" value="BN7ZFB4"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>INWIDO AB</name>
        <lei>529900A9NKQW5UTHBG13</lei>
        <title>INWIDO AB NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SE0006220018"/>
          <ticker value="INWI"/>
          <other otherDesc="SEDOL" value="BQY78Q0"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ASPEN GROUP LTD (AUSTRALIA)</name>
        <lei>529900EO4LDRP0T6V445</lei>
        <title>ASPEN GROUP LTD (AUSTRALIA) STAPLED NPV</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000APZ8"/>
          <ticker value="APZ"/>
          <other otherDesc="SEDOL" value="6361057"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>GAS PLUS SPA</name>
        <lei>815600CF7B5169BBF109</lei>
        <title>GAS PLUS SPA NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IT0004098510"/>
          <ticker value="GSP"/>
          <other otherDesc="SEDOL" value="B1J0FQ8"/>
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        <balance>74604.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SANOMA OYJ</name>
        <lei>743700XJC24THUPK0S03</lei>
        <title>SANOMA OYJ NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FI0009007694"/>
          <ticker value="SANOMA"/>
          <other otherDesc="SEDOL" value="5964640"/>
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        <valUSD>515089.66000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TOCALO COMPANY LTD</name>
        <lei>N/A</lei>
        <title>TOCALO COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3552290003"/>
          <ticker value="3433"/>
          <other otherDesc="SEDOL" value="6714974"/>
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        <balance>52700.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>HANG LUNG GROUP LTD</name>
        <lei>529900V2T2EPOQYH0981</lei>
        <title>HANG LUNG GROUP LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="HK0010000088"/>
          <ticker value="10"/>
          <other otherDesc="SEDOL" value="6408352"/>
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        <balance>1546000.00000000</balance>
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        <pctVal>0.241007962118</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SUZUKEN COMPANY LTD</name>
        <lei>529900LRLSX7F1Q8TN71</lei>
        <title>SUZUKEN COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3398000004"/>
          <ticker value="9987"/>
          <other otherDesc="SEDOL" value="6865560"/>
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        <balance>16500.00000000</balance>
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        <pctVal>0.048697849782</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</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>YURTEC CORP</name>
        <lei>N/A</lei>
        <title>YURTEC CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3946200007"/>
          <ticker value="1934"/>
          <other otherDesc="SEDOL" value="6894672"/>
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        <balance>46100.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</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>ATTENDO AB</name>
        <lei>549300KEJDL2FNITUW65</lei>
        <title>ATTENDO AB NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0007666110"/>
          <ticker value="ATT"/>
          <other otherDesc="SEDOL" value="BZ1N262"/>
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        <balance>80931.00000000</balance>
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        <currencyConditional curCd="SEK" exchangeRt="9.67815000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>Y</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>PARETO BANK ASA</name>
        <lei>5967007LIEEXZX75J484</lei>
        <title>PARETO BANK ASA NOK12.00</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NO0010397581"/>
          <ticker value="PARB"/>
          <other otherDesc="SEDOL" value="BKM3XN0"/>
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        <balance>100390.00000000</balance>
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        <currencyConditional curCd="NOK" exchangeRt="9.89550000"/>
        <valUSD>689861.05000000</valUSD>
        <pctVal>0.067039766248</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LANCASHIRE HOLDINGS LTD</name>
        <lei>5493002UNUYXLHOWF752</lei>
        <title>LANCASHIRE HOLDINGS LTD COM SHS USD0.50</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG5361W1047"/>
          <ticker value="LRE"/>
          <other otherDesc="SEDOL" value="B0PYHC7"/>
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        <balance>187605.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>1607285.91000000</valUSD>
        <pctVal>0.156193876580</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HOLLYWOOD BOWL GROUP PLC</name>
        <lei>213800XB8YZNGJYDEZ97</lei>
        <title>HOLLYWOOD BOWL GROUP PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BD0NVK62"/>
          <ticker value="BOWL"/>
          <other otherDesc="SEDOL" value="BD0NVK6"/>
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        <balance>219069.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>798133.90000000</valUSD>
        <pctVal>0.077561575756</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BALTIC CLASSIFIEDS GROUP PLC</name>
        <lei>213800I1RPHCFSSQS969</lei>
        <title>BALTIC CLASSIFIEDS GROUP PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BN44P254"/>
          <ticker value="BCG"/>
          <other otherDesc="SEDOL" value="BN44P25"/>
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        <balance>168539.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>420767.02000000</valUSD>
        <pctVal>0.040889571408</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TSUBAKIMOTO CHAIN COMPANY</name>
        <lei>N/A</lei>
        <title>TSUBAKIMOTO CHAIN COMPANY NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3535400000"/>
          <ticker value="6371"/>
          <other otherDesc="SEDOL" value="6906704"/>
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        <balance>76900.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
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        <pctVal>0.117435100638</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WEE HUR HOLDINGS LTD</name>
        <lei>2549003CUAHCW7JG5S36</lei>
        <title>WEE HUR HOLDINGS LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG1W55939399"/>
          <ticker value="WHUR"/>
          <other otherDesc="SEDOL" value="B2N7F28"/>
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        <balance>977500.00000000</balance>
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        <currencyConditional curCd="SGD" exchangeRt="1.29345000"/>
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        <pctVal>0.047002175612</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ALUMASC GROUP PLC (THE)</name>
        <lei>2138002MV11VKZFJ4359</lei>
        <title>ALUMASC GROUP PLC (THE) ORD GBP0.125</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0000280353"/>
          <ticker value="ALU"/>
          <other otherDesc="SEDOL" value="0028035"/>
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        <balance>93005.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
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        <pctVal>0.029389738464</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DELFI LTD</name>
        <lei>N/A</lei>
        <title>DELFI LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG1Q25921608"/>
          <ticker value="DELFI"/>
          <other otherDesc="SEDOL" value="B039445"/>
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        <balance>803000.00000000</balance>
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        <currencyConditional curCd="SGD" exchangeRt="1.29345000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KELSIAN GROUP LTD</name>
        <lei>984500FAK68AD2A97558</lei>
        <title>KELSIAN GROUP LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU0000186678"/>
          <ticker value="KLS"/>
          <other otherDesc="SEDOL" value="BPBKR80"/>
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        <balance>255236.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.44341800"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AMG CRITICAL MATERIALS NV</name>
        <lei>5493006MN6OH67U2YI74</lei>
        <title>AMG CRITICAL MATERIALS NV EUR0.02</title>
        <cusip>000000000</cusip>
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          <isin value="NL0000888691"/>
          <ticker value="AMG"/>
          <other otherDesc="SEDOL" value="B1Z95S1"/>
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        <balance>15797.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KURIMOTO LTD</name>
        <lei>N/A</lei>
        <title>KURIMOTO LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3270800000"/>
          <ticker value="5602"/>
          <other otherDesc="SEDOL" value="6497941"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>FP CORP</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
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          <isin value="JP3167000003"/>
          <ticker value="7947"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SIRIUS REAL ESTATE LTD</name>
        <lei>213800NURUF5W8QSK566</lei>
        <title>SIRIUS REAL ESTATE LTD ORD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="GG00B1W3VF54"/>
          <ticker value="SRE"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MEGMILK SNOW BRAND COMPANY LTD</name>
        <lei>N/A</lei>
        <title>MEGMILK SNOW BRAND COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3947800003"/>
          <ticker value="2270"/>
          <other otherDesc="SEDOL" value="B3ZC078"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>IFAST CORP LTD</name>
        <lei>254900R8J6BPHWK23Z14</lei>
        <title>IFAST CORP LTD NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SG1AF5000000"/>
          <ticker value="IFAST"/>
          <other otherDesc="SEDOL" value="BTDY3B3"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PROXIMUS SA</name>
        <lei>549300CWRXC5EP004533</lei>
        <title>PROXIMUS SA NPV</title>
        <cusip>000000000</cusip>
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          <isin value="BE0003810273"/>
          <ticker value="PROX"/>
          <other otherDesc="SEDOL" value="B00D9P6"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ELEKTA AB</name>
        <lei>54930044O54BK617EP80</lei>
        <title>ELEKTA AB SER'B'NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SE0000163628"/>
          <ticker value="EKTAB"/>
          <other otherDesc="SEDOL" value="B0M42T2"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ARCS COMPANY LTD</name>
        <lei>N/A</lei>
        <title>ARCS COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3968600001"/>
          <ticker value="9948"/>
          <other otherDesc="SEDOL" value="6721930"/>
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        <balance>25900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>541027.53000000</valUSD>
        <pctVal>0.052576325544</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TOMONY HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>TOMONY HOLDINGS INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3631700006"/>
          <ticker value="8600"/>
          <other otherDesc="SEDOL" value="B6391L3"/>
        </identifiers>
        <balance>120800.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>652591.29000000</valUSD>
        <pctVal>0.063417941247</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GLORY LTD</name>
        <lei>3538003FKID28TGG5U64</lei>
        <title>GLORY LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3274400005"/>
          <ticker value="6457"/>
          <other otherDesc="SEDOL" value="6374226"/>
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        <balance>23177.00000000</balance>
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        <pctVal>0.054171839621</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WisdomTree Trust</name>
        <lei>549300SEVJBU47TE8855</lei>
        <title>WisdomTree Europe SmallCap Dividend Fund</title>
        <cusip>97717W869</cusip>
        <identifiers>
          <isin value="US97717W8698"/>
          <ticker value="DFE"/>
        </identifiers>
        <balance>1549.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>111481.53000000</valUSD>
        <pctVal>0.010833624702</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HILTON FOOD GROUP PLC</name>
        <lei>213800JY7VJFS2OOX355</lei>
        <title>HILTON FOOD GROUP PLC ORD GBP0.10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B1V9NW54"/>
          <ticker value="HFG"/>
          <other otherDesc="SEDOL" value="B1V9NW5"/>
        </identifiers>
        <balance>111190.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>760020.73000000</valUSD>
        <pctVal>0.073857789309</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOKIAN TYRES PLC</name>
        <lei>743700YQIO8Y4L4WKR40</lei>
        <title>NOKIAN TYRES PLC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FI0009005318"/>
          <ticker value="TYRES"/>
          <other otherDesc="SEDOL" value="B07G378"/>
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        <balance>113547.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87466100"/>
        <valUSD>1553924.99000000</valUSD>
        <pctVal>0.151008334356</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1412446.34206888"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CREATE RESTAURANTS HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>CREATE RESTAURANTS HOLDINGS INC NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3269930008"/>
          <ticker value="3387"/>
          <other otherDesc="SEDOL" value="B0J2LC5"/>
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        <balance>86800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>393076.76000000</valUSD>
        <pctVal>0.038198669294</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="393072.22889331"/>
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      </invstOrSec>
      <invstOrSec>
        <name>PARTNER COMMUNICATIONS COMPANY LTD</name>
        <lei>529900P1P6RZ1NC37U33</lei>
        <title>PARTNER COMMUNICATIONS COMPANY LTD ILS0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0010834849"/>
          <ticker value="PTNR"/>
          <other otherDesc="SEDOL" value="6374420"/>
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        <balance>149980.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="2.97945000"/>
        <valUSD>1830295.12000000</valUSD>
        <pctVal>0.177865610779</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MEIKO ELECTRONICS COMPANY LTD</name>
        <lei>529900LGRXWX2ACMWR86</lei>
        <title>MEIKO ELECTRONICS COMPANY LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3915350007"/>
          <ticker value="6787"/>
          <other otherDesc="SEDOL" value="6302454"/>
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        <balance>4400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>839255.50000000</valUSD>
        <pctVal>0.081557717373</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VOLUTION GROUP PLC</name>
        <lei>213800EPT84EQCDHO768</lei>
        <title>VOLUTION GROUP PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BN3ZZ526"/>
          <ticker value="FAN"/>
          <other otherDesc="SEDOL" value="BN3ZZ52"/>
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        <balance>95265.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75343800"/>
        <valUSD>772550.83000000</valUSD>
        <pctVal>0.075075447524</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SYSTENA CORP</name>
        <lei>N/A</lei>
        <title>SYSTENA CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3351050004"/>
          <ticker value="2317"/>
          <other otherDesc="SEDOL" value="6537881"/>
        </identifiers>
        <balance>214200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>521908.63000000</valUSD>
        <pctVal>0.050718376633</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TOA ROAD CORP</name>
        <lei>N/A</lei>
        <title>TOA ROAD CORP NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3558000000"/>
          <ticker value="1882"/>
          <other otherDesc="SEDOL" value="6894586"/>
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        <balance>55600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>528546.38000000</valUSD>
        <pctVal>0.051363424224</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="382758.83710729"/>
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      </invstOrSec>
      <invstOrSec>
        <name>PAN-UNITED CORP LTD</name>
        <lei>25490013KRZW2JQ13645</lei>
        <title>PAN-UNITED CORP LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG1A67000830"/>
          <ticker value="PAN"/>
          <other otherDesc="SEDOL" value="6669814"/>
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        <balance>751100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.29345000"/>
        <valUSD>783938.30000000</valUSD>
        <pctVal>0.076182066498</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MORINAGA &amp; CO. LTD</name>
        <lei>N/A</lei>
        <title>MORINAGA &amp; CO. LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3926400007"/>
          <ticker value="2201"/>
          <other otherDesc="SEDOL" value="6602604"/>
        </identifiers>
        <balance>36000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="162.52500000"/>
        <valUSD>575689.89000000</valUSD>
        <pctVal>0.055944766931</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HEXPOL AB</name>
        <lei>549300MN30TBRLYN3465</lei>
        <title>HEXPOL AB SER'B'NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0007074281"/>
          <ticker value="HPOLB"/>
          <other otherDesc="SEDOL" value="BXBZB01"/>
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        <balance>317851.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.67815000"/>
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        <pctVal>0.230589724644</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LHN LTD</name>
        <lei>N/A</lei>
        <title>LHN LTD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG1AH9000002"/>
          <ticker value="LHN"/>
          <other otherDesc="SEDOL" value="BWTV881"/>
        </identifiers>
        <balance>683000.00000000</balance>
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        <currencyConditional curCd="SGD" exchangeRt="1.29345000"/>
        <valUSD>300985.74000000</valUSD>
        <pctVal>0.029249388197</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="79322.74150538"/>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-08-28</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>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
