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        <fairValLevel>1</fairValLevel>
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        <name>Zalando SE</name>
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      <invstOrSec>
        <name>Yakult Honsha Co Ltd</name>
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      <invstOrSec>
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        <name>Nippon Steel Corp</name>
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        <name>Entain PLC</name>
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        <invCountry>GB</invCountry>
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        <name>Swiss Prime Site AG</name>
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        <invCountry>CH</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Bank of Ireland Group PLC</name>
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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>Denso Corp</name>
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        <title>Denso Corp</title>
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          <isin value="JP3551500006"/>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Commonwealth Bank of Australia</name>
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        <name>Orange SA</name>
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        <name>Kingfisher PLC</name>
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        <name>Prosus NV</name>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>Japan Post Bank Co Ltd</name>
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        <name>Ashtead Group PLC</name>
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        <name>SoftBank Corp</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Power Assets Holdings Ltd</name>
        <lei>254900JOWYUW1ZX4DF47</lei>
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          <isin value="HK0006000050"/>
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        <assetCat>EC</assetCat>
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        <invCountry>HK</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Havas NV</name>
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        <assetCat>EC</assetCat>
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        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Volkswagen AG</name>
        <lei>529900NNUPAGGOMPXZ31</lei>
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        <assetCat>EP</assetCat>
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        <invCountry>DE</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <cusip>000000000</cusip>
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          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="CCTUSD__00566566"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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      <invstOrSec>
        <name>Big Shopping Centers Ltd</name>
        <lei>N/A</lei>
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          <isin value="IL0010972607"/>
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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>Rio Tinto PLC</name>
        <lei>213800YOEO5OQ72G2R82</lei>
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          <isin value="GB0007188757"/>
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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>Deutsche Telekom AG</name>
        <lei>549300V9QSIG4WX4GJ96</lei>
        <title>Deutsche Telekom AG</title>
        <cusip>000000000</cusip>
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          <isin value="DE0005557508"/>
          <ticker value="DTE"/>
          <other otherDesc="SEDOL" value="5842359"/>
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        <balance>164737.00000000</balance>
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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>Genting Singapore Ltd</name>
        <lei>254900Y2N3AK93K1O866</lei>
        <title>Genting Singapore Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="SGXE21576413"/>
          <ticker value="GENS"/>
          <other otherDesc="SEDOL" value="BDRTVP2"/>
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        <balance>492183.00000000</balance>
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        <currencyConditional curCd="SGD" exchangeRt="1.30570000"/>
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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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      <invstOrSec>
        <name>Makita Corp</name>
        <lei>529900CDR9E94BCM6294</lei>
        <title>Makita Corp</title>
        <cusip>000000000</cusip>
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          <isin value="JP3862400003"/>
          <ticker value="6586"/>
          <other otherDesc="SEDOL" value="6555805"/>
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        <balance>14620.00000000</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>Daiwa House Industry Co Ltd</name>
        <lei>353800K9WXR9XRZJZI46</lei>
        <title>Daiwa House Industry Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3505000004"/>
          <ticker value="1925"/>
          <other otherDesc="SEDOL" value="6251363"/>
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        <balance>35044.00000000</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>Groupe Bruxelles Lambert NV</name>
        <lei>549300KV0ZEHT2KVU152</lei>
        <title>Groupe Bruxelles Lambert NV</title>
        <cusip>000000000</cusip>
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          <isin value="BE0003797140"/>
          <ticker value="GBLB"/>
          <other otherDesc="SEDOL" value="7097328"/>
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        <balance>5406.00000000</balance>
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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>Neste Oyj</name>
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        <title>Neste Oyj</title>
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          <isin value="FI0009013296"/>
          <ticker value="NESTE"/>
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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>Fast Retailing Co Ltd</name>
        <lei>353800ZCXKHDPY0N5218</lei>
        <title>Fast Retailing Co Ltd</title>
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          <isin value="JP3802300008"/>
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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>Chugai Pharmaceutical Co Ltd</name>
        <lei>529900T9LAII161DCN95</lei>
        <title>Chugai Pharmaceutical Co Ltd</title>
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          <isin value="JP3519400000"/>
          <ticker value="4519"/>
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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>MORGAN STANLEY &amp; CO. LLC</name>
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          <ticker value="N/A"/>
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      <invstOrSec>
        <name>Smith &amp; Nephew PLC</name>
        <lei>213800ZTMDN8S67S1H61</lei>
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      <invstOrSec>
        <name>Daifuku Co Ltd</name>
        <lei>3538006FG1W4X3MYHL36</lei>
        <title>Daifuku Co Ltd</title>
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      <invstOrSec>
        <name>Delivery Hero SE</name>
        <lei>529900C3EX1FZGE48X78</lei>
        <title>Delivery Hero SE</title>
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        <name>Tokyu Fudosan Holdings Corp</name>
        <lei>N/A</lei>
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        <name>Brunello Cucinelli SpA</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Svenska Handelsbanken AB</name>
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        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>LY Corp</name>
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          <isin value="JP3933800009"/>
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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>Japan Post Holdings Co Ltd</name>
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        <title>Japan Post Holdings Co Ltd</title>
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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>British Land Co PLC/The</name>
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          <isin value="GB0001367019"/>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Anheuser-Busch InBev SA/NV</name>
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          <isin value="BE0974293251"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>The Bank of New York Mellon</name>
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          <ticker value="N/A"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Korea Zinc Co Ltd</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Asahi Intecc Co Ltd</name>
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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>Astellas Pharma Inc</name>
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        <title>Astellas Pharma Inc</title>
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          <isin value="JP3942400007"/>
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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>Advantest Corp</name>
        <lei>353800EMK32PDKS9XR54</lei>
        <title>Advantest Corp</title>
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          <isin value="JP3122400009"/>
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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>Admiral Group PLC</name>
        <lei>213800FGVM7Z9EJB2685</lei>
        <title>Admiral Group PLC</title>
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          <ticker value="ADM"/>
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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>Woori Financial Group Inc</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Secom Co Ltd</name>
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        <name>Korean Air Lines Co Ltd</name>
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        <name>Inpex Corp</name>
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        <name>AP Moller - Maersk A/S</name>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>CapitaLand Investment Ltd/Sing</name>
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        <name>Unibail-Rodamco-Westfield</name>
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        <name>Repsol SA</name>
        <lei>BSYCX13Y0NOTV14V9N85</lei>
        <title>Repsol SA</title>
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        <name>Hyundai Mobis Co Ltd</name>
        <lei>988400HJA9E0ZVDHRS65</lei>
        <title>Hyundai Mobis Co Ltd</title>
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      <invstOrSec>
        <name>Publicis Groupe SA</name>
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        <name>Lion Corp</name>
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      <invstOrSec>
        <name>NGK Insulators Ltd</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Akzo Nobel NV</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>Dino Polska SA</name>
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        <name>Kering SA</name>
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        <name>Endeavour Group Ltd/Australia</name>
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        <name>Brambles Ltd</name>
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        <name>Novartis AG</name>
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        <name>Weir Group PLC/The</name>
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        <name>Mapletree Industrial Trust</name>
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        <name>HD Hyundai Electric Co Ltd</name>
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        <name>Halma PLC</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Trend Micro Inc/Japan</name>
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          <isin value="JP3637300009"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>VAT Group AG</name>
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          <isin value="CH0311864901"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Nokia Oyj</name>
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          <isin value="FI0009000681"/>
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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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      <invstOrSec>
        <name>NatWest Group PLC</name>
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        <title>NatWest Group PLC</title>
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          <isin value="GB00BM8PJY71"/>
          <ticker value="NWG"/>
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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>Tokio Marine Holdings Inc</name>
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        <title>Tokio Marine Holdings Inc</title>
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          <isin value="JP3910660004"/>
          <ticker value="8766"/>
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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>Aristocrat Leisure Ltd</name>
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        <title>Aristocrat Leisure Ltd</title>
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          <isin value="AU000000ALL7"/>
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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>
        <name>Cellnex Telecom SA</name>
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        <assetCat>EC</assetCat>
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        <invCountry>ES</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Subaru Corp</name>
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        <title>Subaru Corp</title>
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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>MORGAN STANLEY &amp; CO. LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Industrial Bank of Korea</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Disco Corp</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Argenx SE</name>
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        <name>SSE PLC</name>
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        <name>Atlas Copco AB</name>
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        <name>ASM International NV</name>
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        <name>Straumann Holding AG</name>
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        <title>Straumann Holding AG</title>
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      <invstOrSec>
        <name>SoftBank Group Corp</name>
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        <name>DB Insurance Co Ltd</name>
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        <assetCat>EC</assetCat>
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        <name>Kakao Corp</name>
        <lei>988400FTKUBQXKVZP434</lei>
        <title>Kakao Corp</title>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fastighets AB Balder</name>
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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>Mercedes-Benz Group AG</name>
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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>IDP Education Ltd</name>
        <lei>98450014FAFE73Q0A257</lei>
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          <isin value="AU000000IEL5"/>
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        <balance>17784.00000000</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>
        <name>Rightmove PLC</name>
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          <isin value="GB00BGDT3G23"/>
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        <balance>42694.00000000</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>Isetan Mitsukoshi Holdings Ltd</name>
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          <isin value="JP3894900004"/>
          <ticker value="3099"/>
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        <balance>22863.00000000</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>Honda Motor Co Ltd</name>
        <lei>549300P7ZYCQJ36CCS16</lei>
        <title>Honda Motor Co Ltd</title>
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          <isin value="JP3854600008"/>
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        <balance>239835.00000000</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>Airbus SE</name>
        <lei>MINO79WLOO247M1IL051</lei>
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          <isin value="NL0000235190"/>
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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>United Overseas Bank Ltd</name>
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          <isin value="SG1M31001969"/>
          <ticker value="UOB"/>
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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>
        <name>Deutsche Boerse AG</name>
        <lei>529900G3SW56SHYNPR95</lei>
        <title>Deutsche Boerse AG</title>
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          <isin value="DE0005810055"/>
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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>Atlas Copco AB</name>
        <lei>213800T8PC8Q4FYJZR07</lei>
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          <isin value="SE0017486889"/>
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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>MORGAN STANLEY &amp; CO. LLC</name>
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      <invstOrSec>
        <name>Ageas SA/NV</name>
        <lei>5493005DJBML6LY3RV36</lei>
        <title>Ageas SA/NV</title>
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        <invCountry>BE</invCountry>
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      <invstOrSec>
        <name>Diageo PLC</name>
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        <name>UPM-Kymmene Oyj</name>
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        <invCountry>FI</invCountry>
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        <name>Bandai Namco Holdings Inc</name>
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        <name>Kewpie Corp</name>
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        <name>Samsung Electronics Co Ltd</name>
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        <name>M3 Inc</name>
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        <name>SBI Holdings Inc</name>
        <lei>353800L6LMHYIPSMRQ17</lei>
        <title>SBI Holdings Inc</title>
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          <isin value="JP3436120004"/>
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        <invCountry>JP</invCountry>
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      <invstOrSec>
        <name>Coloplast A/S</name>
        <lei>529900NN7SOJ5QG82X67</lei>
        <title>Coloplast A/S</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Vodafone Group PLC</name>
        <lei>213800TB53ELEUKM7Q61</lei>
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      <invstOrSec>
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        <name>Koninklijke Philips NV</name>
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        <name>Jardine Matheson Holdings Ltd</name>
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        <invCountry>HK</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ST Engineering</name>
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        <invCountry>SG</invCountry>
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      <invstOrSec>
        <name>Kongsberg Gruppen ASA</name>
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        <invCountry>NO</invCountry>
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      <invstOrSec>
        <name>Haleon PLC</name>
        <lei>549300PSB3WWEODCUP19</lei>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Sanrio Co Ltd</name>
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        <title>Sanrio Co Ltd</title>
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          <isin value="JP3343200006"/>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NTT Data Group Corp</name>
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        <name>Recordati Industria Chimica e</name>
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        <title>Recordati Industria Chimica e Farmaceutica SpA</title>
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        <invCountry>IT</invCountry>
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        <name>Brenntag SE</name>
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        <invCountry>DE</invCountry>
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        <name>Kuraray Co Ltd</name>
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        <name>Nippon Sanso Holdings Corp</name>
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        <name>Imperial Brands PLC</name>
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        <name>Sekisui House Ltd</name>
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        <name>Sumitomo Mitsui Financial Grou</name>
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        <name>Kansai Electric Power Co Inc/T</name>
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      <invstOrSec>
        <name>Technology One Ltd</name>
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      <invstOrSec>
        <name>Galp Energia SGPS SA</name>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>Shin-Etsu Chemical Co Ltd</name>
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        <name>Investor AB</name>
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      <invstOrSec>
        <name>Nintendo Co Ltd</name>
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        <name>Japan Tobacco Inc</name>
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        <name>Lotus Bakeries NV</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Aurizon Holdings Ltd</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Transurban Group</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Aviva PLC</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Telstra Group Ltd</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Allianz SE</name>
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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>Scentre Group</name>
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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>Skanska AB</name>
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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>Bankinter SA</name>
        <lei>VWMYAEQSTOPNV0SUGU82</lei>
        <title>Bankinter SA</title>
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          <ticker value="BKT"/>
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        <assetCat>EC</assetCat>
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        <invCountry>ES</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Coca-Cola HBC AG</name>
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        <title>Coca-Cola HBC AG</title>
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        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Telefonica SA</name>
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        <name>Davide Campari-Milano NV</name>
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        <name>Nice Ltd</name>
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        <name>ITOCHU Corp</name>
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        <name>The Bank of New York Mellon</name>
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        <name>Thales SA</name>
        <lei>529900FNDVTQJOVVPZ19</lei>
        <title>Thales SA</title>
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        <name>Central Japan Railway Co</name>
        <lei>353800YAR3OVUITHTG64</lei>
        <title>Central Japan Railway Co</title>
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        <invCountry>JP</invCountry>
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        <name>Takeda Pharmaceutical Co Ltd</name>
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        <title>Takeda Pharmaceutical Co Ltd</title>
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        <name>Mitsubishi Heavy Industries Lt</name>
        <lei>353800TJ98PCAZROVE69</lei>
        <title>Mitsubishi Heavy Industries Ltd</title>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <name>Meritz Financial Group Inc</name>
        <lei>N/A</lei>
        <title>Meritz Financial Group Inc</title>
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        <name>Telecom Italia SpA/Milano</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CAR Group Ltd</name>
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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>Rheinmetall AG</name>
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        <title>Rheinmetall AG</title>
        <cusip>000000000</cusip>
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          <isin value="DE0007030009"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Alteogen Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Skandinaviska Enskilda Banken</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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      <invstOrSec>
        <name>Sanwa Holdings Corp</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Gecina SA</name>
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        <invCountry>FR</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Suncorp Group Ltd</name>
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        <title>Suncorp Group Ltd</title>
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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>Sonova Holding AG</name>
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        <title>Sonova Holding AG</title>
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        <assetCat>EC</assetCat>
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        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>SAP SE</name>
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        <invCountry>DE</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Galaxy Entertainment Group Ltd</name>
        <lei>549300ZSEBV3HR826S10</lei>
        <title>Galaxy Entertainment Group Ltd</title>
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        <name>Cie Financiere Richemont SA</name>
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        <name>Kyushu Electric Power Co Inc</name>
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        <name>Intertek Group PLC</name>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>Sandoz Group AG</name>
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        <name>Yamato Holdings Co Ltd</name>
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      <invstOrSec>
        <name>MTU Aero Engines AG</name>
        <lei>529900807L67JY81RD65</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Japan Logistics Fund Inc</name>
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          <isin value="JP3046230003"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Smurfit WestRock PLC</name>
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        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Bic Camera Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>AXA SA</name>
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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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        <name>EDP SA</name>
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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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        <name>Spirax 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>NH Foods Ltd</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>Dexus</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Yokogawa Electric Corp</name>
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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>AGC Inc</name>
        <lei>JE4WFFEELMVPFZ0G1E77</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>Schibsted ASA</name>
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        <name>Swatch Group AG/The</name>
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        <name>Geberit AG</name>
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        <name>Koito Manufacturing Co Ltd</name>
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        <name>Bank Leumi Le-Israel BM</name>
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      <invstOrSec>
        <name>CJ CheilJedang Corp</name>
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      <invstOrSec>
        <name>Hongkong Land Holdings Ltd</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Marui Group Co Ltd</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Sands China Ltd</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Swedbank AB</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Israel Discount Bank Ltd</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Asahi Kasei Corp</name>
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          <isin value="JP3111200006"/>
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        <fairValLevel>1</fairValLevel>
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        <name>Snam SpA</name>
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        <name>BAE Systems PLC</name>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>PRADA SpA</name>
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        <name>Aena SME SA</name>
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        <name>Morinaga Milk Industry Co Ltd</name>
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        <name>Shimamura Co Ltd</name>
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        <name>Nisshin Seifun Group Inc</name>
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        <name>Sumitomo Corp</name>
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      <invstOrSec>
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        <name>Auto Trader Group PLC</name>
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        <name>Saab AB</name>
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        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>AIA Group Ltd</name>
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        <assetCat>EC</assetCat>
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        <name>Sumitomo Electric Industries L</name>
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          <isin value="JP3407400005"/>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Severn Trent PLC</name>
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        <invCountry>GB</invCountry>
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      <invstOrSec>
        <name>Keisei Electric Railway Co Ltd</name>
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          <isin value="JP3278600006"/>
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        <fairValLevel>1</fairValLevel>
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        <name>Idemitsu Kosan Co Ltd</name>
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        <title>Idemitsu Kosan Co Ltd</title>
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        <name>Engie SA</name>
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        <invCountry>FR</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>EXOR NV</name>
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        <name>Hankyu Hanshin Holdings Inc</name>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>IHI Corp</name>
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        <name>Vivendi SE</name>
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        <name>Zensho Holdings Co Ltd</name>
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        <name>Dentsu Group Inc</name>
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        <name>Nitto Denko Corp</name>
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        <name>Hitachi Ltd</name>
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        <name>Brother Industries Ltd</name>
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        <name>HENDERSON LAND</name>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>Lixil Corp</name>
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        <name>Wesfarmers Ltd</name>
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        <fairValLevel>1</fairValLevel>
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        <name>SK Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Anglo American PLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Roche Holding AG</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Standard Chartered PLC</name>
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          <isin value="GB0004082847"/>
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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>West Japan Railway Co</name>
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        <title>West Japan Railway Co</title>
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          <isin value="JP3659000008"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>STMicroelectronics NV</name>
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        <name>Nexon Co Ltd</name>
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        <name>HKEX</name>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>Cochlear Ltd</name>
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        <name>BNP Paribas SA</name>
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        <name>Arkema SA</name>
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        <name>National Grid PLC</name>
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        <name>Woolworths Group Ltd</name>
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        <name>RELX PLC</name>
        <lei>549300WSX3VBUFFJOO66</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Teleperformance SE</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Suntory Beverage &amp; Food Ltd</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>WiseTech Global Ltd</name>
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      <invstOrSec>
        <name>Dai Nippon Printing Co Ltd</name>
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          <isin value="JP3493800001"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>Carlsberg AS</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Iberdrola SA</name>
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        <assetCat>EC</assetCat>
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        <invCountry>ES</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Seatrium Ltd</name>
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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>Asahi Group Holdings Ltd</name>
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        <title>Asahi Group Holdings Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="JP3116000005"/>
          <ticker value="2502"/>
          <other otherDesc="SEDOL" value="6054409"/>
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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>Region RE Ltd</name>
        <lei>549300MS6NZV0B7K7D28</lei>
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        <cusip>000000000</cusip>
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          <isin value="AU0000253502"/>
          <ticker value="RGN"/>
          <other otherDesc="SEDOL" value="BPBMY63"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Celltrion Inc</name>
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        <title>Celltrion Inc</title>
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          <isin value="KR7068270008"/>
          <ticker value="068270"/>
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        <invCountry>KR</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Legrand SA</name>
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        <name>Samsonite Group SA</name>
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        <name>Dai-ichi Life Holdings Inc</name>
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        <name>mBank SA</name>
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        <name>Leonardo SpA</name>
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        <name>Grifols SA</name>
        <lei>959800HSSNXWRKBK4N60</lei>
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        <name>Smiths Group PLC</name>
        <lei>213800MJL6IPZS3ASA11</lei>
        <title>Smiths Group PLC</title>
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      <invstOrSec>
        <name>HSBC Holdings PLC</name>
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        <name>Santen Pharmaceutical Co Ltd</name>
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        <name>Nemetschek SE</name>
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        <name>Samsung Fire &amp; Marine Insuranc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Northern Star Resources Ltd</name>
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          <ticker value="NST"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Alfa Laval AB</name>
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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>Randstad NV</name>
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        <title>Randstad NV</title>
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          <isin value="NL0000379121"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Pandora A/S</name>
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          <isin value="DK0060252690"/>
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          <other otherDesc="SEDOL" value="B44XTX8"/>
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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>CSL Ltd</name>
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        <title>CSL Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000CSL8"/>
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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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      <invstOrSec>
        <name>3i Group PLC</name>
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          <isin value="GB00B1YW4409"/>
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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>Endeavour Mining PLC</name>
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          <isin value="GB00BL6K5J42"/>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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          <ticker value="N/A"/>
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        <curCd>USD</curCd>
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        <assetCat>DFE</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Yaskawa Electric Corp</name>
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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>Money Forward Inc</name>
        <lei>35380017JS3GIGP6WN95</lei>
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          <isin value="JP3869960009"/>
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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>REA Group Ltd</name>
        <lei>894500KA4UBDATOFPN36</lei>
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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>Verbund AG</name>
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        <title>Verbund AG</title>
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          <isin value="AT0000746409"/>
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        <assetCat>EC</assetCat>
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        <invCountry>AT</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Lottery Corp Ltd/The</name>
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        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>DSV A/S</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Land Securities Group PLC</name>
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        <name>Mitsubishi Estate Co Ltd</name>
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        <name>CapitaLand Integrated Commerci</name>
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        <name>Boliden AB</name>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>Kirin Holdings Co Ltd</name>
        <lei>353800GBVL72LLMTYM96</lei>
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        <name>Aker BP ASA</name>
        <lei>549300NFTY73920OYK69</lei>
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      <invstOrSec>
        <name>DSM-Firmenich 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>
        <name>Tosoh Corp</name>
        <lei>529900YSLFVJF2MDBX02</lei>
        <title>Tosoh Corp</title>
        <cusip>000000000</cusip>
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          <isin value="JP3595200001"/>
          <ticker value="4042"/>
          <other otherDesc="SEDOL" value="6900289"/>
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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>Pro Medicus Ltd</name>
        <lei>N/A</lei>
        <title>Pro Medicus Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000PME8"/>
          <ticker value="PME"/>
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        <balance>2867.00000000</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>
        <name>NN Group NV</name>
        <lei>724500OHYNDT9OY6Q215</lei>
        <title>NN Group NV</title>
        <cusip>000000000</cusip>
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          <isin value="NL0010773842"/>
          <ticker value="NN"/>
          <other otherDesc="SEDOL" value="BNG8PQ9"/>
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        <balance>15560.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>UCB SA</name>
        <lei>2138008J191VLSGY5A09</lei>
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        <cusip>000000000</cusip>
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          <isin value="BE0003739530"/>
          <ticker value="UCB"/>
          <other otherDesc="SEDOL" value="5596991"/>
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        <balance>6087.00000000</balance>
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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>Zealand Pharma A/S</name>
        <lei>549300ITBB1ULBL4CZ12</lei>
        <title>Zealand Pharma A/S</title>
        <cusip>000000000</cusip>
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          <isin value="DK0060257814"/>
          <ticker value="ZEAL"/>
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        <balance>3438.00000000</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>Xinyi Glass Holdings Ltd</name>
        <lei>52990082YXVVZFK1QJ17</lei>
        <title>Xinyi Glass Holdings Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="KYG9828G1082"/>
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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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      <invstOrSec>
        <name>PZU</name>
        <lei>QLPCKOOKVX32FUELX240</lei>
        <title>Powszechny Zaklad Ubezpieczen SA</title>
        <cusip>000000000</cusip>
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          <isin value="PLPZU0000011"/>
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        <balance>40756.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>PL</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Otsuka Holdings Co Ltd</name>
        <lei>N/A</lei>
        <title>Otsuka Holdings Co Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="JP3188220002"/>
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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>Barratt Redrow 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>MORGAN STANLEY &amp; CO. LLC</name>
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        <curCd>USD</curCd>
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        <assetCat>DFE</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Segro PLC</name>
        <lei>213800XC35KGM9NFC641</lei>
        <title>Segro PLC</title>
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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>DBS Group Holdings Ltd</name>
        <lei>5493007FKT78NKPM5V55</lei>
        <title>DBS Group Holdings Ltd</title>
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          <isin value="SG1L01001701"/>
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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>Samsung Heavy Industries Co Lt</name>
        <lei>988400OSK0T9LDTWNC20</lei>
        <title>Samsung Heavy Industries Co Ltd</title>
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        <name>ConvaTec Group PLC</name>
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        <title>ConvaTec Group PLC</title>
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        <name>Nestle SA</name>
        <lei>KY37LUS27QQX7BB93L28</lei>
        <title>Nestle SA</title>
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        <name>SK Innovation Co Ltd</name>
        <lei>988400PXP70BWVSJVF07</lei>
        <title>SK Innovation Co Ltd</title>
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          <isin value="KR7096770003"/>
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        <name>Dreyfus Institutional Preferred Government Money Market Fund</name>
        <lei>549300RBWL04JG8SIX57</lei>
        <title>Dreyfus Institutional Preferred Government Money Market Fund</title>
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          <ticker value="DSVXX"/>
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        <name>ALS Ltd</name>
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        <title>ALS Ltd</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Obayashi Corp</name>
        <lei>529900YT4O5S0LCXWD54</lei>
        <title>Obayashi Corp</title>
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          <isin value="JP3190000004"/>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>BPER Banca SPA</name>
        <lei>N747OI7JINV7RUUH6190</lei>
        <title>BPER Banca SPA</title>
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          <ticker value="BPE"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IT</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <title>EDP Renovaveis SA</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Hannover Rueck SE</name>
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          <isin value="DE0008402215"/>
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        <invCountry>DE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Volvo AB</name>
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        <title>Volvo AB</title>
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          <isin value="SE0000115446"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SGS SA</name>
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        <assetCat>EC</assetCat>
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        <invCountry>CH</invCountry>
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      <invstOrSec>
        <name>Kyocera Corp</name>
        <lei>N/A</lei>
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          <isin value="JP3249600002"/>
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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>SMC Corp</name>
        <lei>353800O40V08DOZ70X62</lei>
        <title>SMC Corp</title>
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          <isin value="JP3162600005"/>
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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>TOTO Ltd</name>
        <lei>N/A</lei>
        <title>TOTO Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="JP3596200000"/>
          <ticker value="5332"/>
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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>CapitaLand Ascendas REIT</name>
        <lei>549300ILIBAEMQZK3L20</lei>
        <title>CapitaLand Ascendas REIT</title>
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          <isin value="SG1M77906915"/>
          <ticker value="CLAR"/>
          <other otherDesc="SEDOL" value="6563875"/>
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        <currencyConditional curCd="SGD" exchangeRt="1.30570000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>EssilorLuxottica SA</name>
        <lei>549300M3VH1A3ER1TB49</lei>
        <title>EssilorLuxottica SA</title>
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          <isin value="FR0000121667"/>
          <ticker value="EL"/>
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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>Var Energi ASA</name>
        <lei>549300LIVN3FFOJN2K47</lei>
        <title>Var Energi ASA</title>
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      <invstOrSec>
        <name>Svenska Cellulosa AB SCA</name>
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        <name>Sumitomo Realty &amp; Development</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Universal Music Group NV</name>
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        <invCountry>NL</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>The Bank of New York Mellon</name>
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        <name>Link REIT</name>
        <lei>529900XUE70U36QX5M62</lei>
        <title>Link REIT</title>
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        <name>InPost SA</name>
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        <name>Ecopro Materials Co Ltd</name>
        <lei>N/A</lei>
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        <name>South32 Ltd</name>
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        <name>Charter Hall Group</name>
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      <invstOrSec>
        <name>Daimler Truck Holding AG</name>
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      <invstOrSec>
        <name>Koninklijke Ahold Delhaize NV</name>
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      <invstOrSec>
        <name>Shizuoka Financial Group Inc</name>
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        <name>Mitsubishi Corp</name>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>Nexi SpA</name>
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        <name>Daikin Industries Ltd</name>
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        <name>Julius Baer Group Ltd</name>
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        <name>Banco de Sabadell SA</name>
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        <name>Epiroc AB</name>
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        <name>Nomura Holdings Inc</name>
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        <name>Nomura Research Institute Ltd</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CyberAgent Inc</name>
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          <isin value="JP3311400000"/>
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        <payoffProfile>Long</payoffProfile>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Wharf Real Estate Investment C</name>
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        <title>Wharf Real Estate Investment Co Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="KYG9593A1040"/>
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        <assetCat>EC</assetCat>
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        <invCountry>HK</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>M&amp;G 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>USS Co Ltd</name>
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          <isin value="JP3944130008"/>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>CTS Eventim AG &amp; Co KGaA</name>
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          <isin value="DE0005470306"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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          <ticker value="N/A"/>
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      <invstOrSec>
        <name>ESR Group Ltd</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Holcim AG</name>
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        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Naturgy Energy Group SA</name>
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        <name>Tokyo Electron Ltd</name>
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        <name>Pola Orbis Holdings Inc</name>
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        <name>Nissan Chemical Corp</name>
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        <name>The Bank of New York Mellon</name>
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        <name>Adecco Group AG</name>
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        <name>TEPCO</name>
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        <title>Tokyo Electric Power Co Holdings Inc</title>
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        <name>Howden Joinery Group PLC</name>
        <lei>213800KC1LJOJTY3JP45</lei>
        <title>Howden Joinery Group PLC</title>
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        <name>Thai Beverage PCL</name>
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        <name>Nibe Industrier AB</name>
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        <name>Samsung Electronics Co Ltd</name>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>Japan Steel Works Ltd/The</name>
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        <name>MatsukiyoCocokara &amp; Co</name>
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        <name>Samsung SDS Co Ltd</name>
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        <name>Hong Kong &amp; China Gas Co Ltd</name>
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        <name>Samsung SDI Co Ltd</name>
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      <invstOrSec>
        <name>UBS Group AG</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Munich Re</name>
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        <cusip>000000000</cusip>
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          <isin value="DE0008430026"/>
          <ticker value="MUV2"/>
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        <invCountry>DE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Melrose Industries PLC</name>
        <lei>213800RGNXXZY2M7TR85</lei>
        <title>Melrose Industries PLC</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BNGDN821"/>
          <ticker value="MRO"/>
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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>Whitbread PLC</name>
        <lei>21380099VMZKRMN3EX36</lei>
        <title>Whitbread PLC</title>
        <cusip>000000000</cusip>
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          <isin value="GB00B1KJJ408"/>
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          <other otherDesc="SEDOL" value="B1KJJ40"/>
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        <balance>10001.00000000</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>Daiwa Securities Group Inc</name>
        <lei>353800WRC7Y23PWFJG38</lei>
        <title>Daiwa Securities Group Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3502200003"/>
          <ticker value="8601"/>
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        <balance>96092.00000000</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>Tryg A/S</name>
        <lei>213800ZRS8AC4LSTCE39</lei>
        <title>Tryg A/S</title>
        <cusip>000000000</cusip>
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          <isin value="DK0060636678"/>
          <ticker value="TRYG"/>
          <other otherDesc="SEDOL" value="BXDZ972"/>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Asics Corp</name>
        <lei>3538002LJMRZ83SU0B85</lei>
        <title>Asics Corp</title>
        <cusip>000000000</cusip>
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          <isin value="JP3118000003"/>
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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>MORGAN STANLEY &amp; CO. LLC</name>
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        <cusip>000000000</cusip>
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          <ticker value="N/A"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Scout24 SE</name>
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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>Murata Manufacturing Co Ltd</name>
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        <title>Murata Manufacturing Co Ltd</title>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Mitsui OSK Lines Ltd</name>
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          <isin value="JP3362700001"/>
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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>ANDRITZ AG</name>
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          <isin value="AT0000730007"/>
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        <invCountry>AT</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Hirose Electric Co Ltd</name>
        <lei>N/A</lei>
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        <name>Stellantis NV</name>
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        <title>Stellantis NV</title>
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        <name>Contact Energy Ltd</name>
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        <title>Contact Energy Ltd</title>
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        <name>GSK PLC</name>
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        <name>MINEBEA MITSUMI Inc</name>
        <lei>353800CCB0CZ75YZ4010</lei>
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        <name>Recruit Holdings Co Ltd</name>
        <lei>353800R2LRSMVVC4I806</lei>
        <title>Recruit Holdings Co Ltd</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Bouygues SA</name>
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      <invstOrSec>
        <name>JD Sports Fashion PLC</name>
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        <name>Korea Electric Power Corp</name>
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      <invstOrSec>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>Toho Co Ltd/Tokyo</name>
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        <fairValLevel>1</fairValLevel>
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        <name>ORIX Corp</name>
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          <isin value="JP3200450009"/>
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        <invCountry>JP</invCountry>
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        <name>HMM Co Ltd</name>
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          <isin value="KR7011200003"/>
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        <name>Capcom Co Ltd</name>
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        <fairValLevel>1</fairValLevel>
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        <name>BioMerieux</name>
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        <name>Continental AG</name>
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        <name>MISUMI Group Inc</name>
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        <name>Zenkoku Hosho Co Ltd</name>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Informa PLC</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Krafton Inc</name>
        <lei>988400CE024EWSCICK17</lei>
        <title>Krafton Inc</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>The Bank of New York Mellon</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Yara International ASA</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Mineral Resources Ltd</name>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Insurance Australia Group Ltd</name>
        <lei>549300PFEWKNHRG25N08</lei>
        <title>Insurance Australia Group Ltd</title>
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          <isin value="AU000000IAG3"/>
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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>Commerzbank AG</name>
        <lei>851WYGNLUQLFZBSYGB56</lei>
        <title>Commerzbank AG</title>
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          <isin value="DE000CBK1001"/>
          <ticker value="CBK"/>
          <other otherDesc="SEDOL" value="B90LKT4"/>
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        <balance>45888.00000000</balance>
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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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      <invstOrSec>
        <name>Hoya Corp</name>
        <lei>353800X4VR3BHEUCJB42</lei>
        <title>Hoya Corp</title>
        <cusip>000000000</cusip>
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          <isin value="JP3837800006"/>
          <ticker value="7741"/>
          <other otherDesc="SEDOL" value="6441506"/>
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        <balance>18115.00000000</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>
        <name>Chubu Electric Power Co Inc</name>
        <lei>529900A76GOP0PGNHT63</lei>
        <title>Chubu Electric Power Co Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3526600006"/>
          <ticker value="9502"/>
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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>Oversea-Chinese Banking Corp L</name>
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        <title>Oversea-Chinese Banking Corp Ltd</title>
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          <isin value="SG1S04926220"/>
          <ticker value="OCBC"/>
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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>Singapore Exchange Ltd</name>
        <lei>549300IQ650PPXM76X03</lei>
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        <invCountry>SG</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Spark New Zealand Ltd</name>
        <lei>529900HUN51H3Y7QBB66</lei>
        <title>Spark New Zealand Ltd</title>
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        <invCountry>NZ</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Prysmian SpA</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IT</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>Safran SA</name>
        <lei>969500UIC89GT3UL7L24</lei>
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        <name>Powszechna Kasa Oszczednosci B</name>
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        <title>Powszechna Kasa Oszczednosci Bank Polski SA</title>
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        <name>Sandvik AB</name>
        <lei>5299008ZUAXN43LVZF54</lei>
        <title>Sandvik AB</title>
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        <name>DCC PLC</name>
        <lei>213800UPS1QEE4TD3T45</lei>
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        <assetCat>EC</assetCat>
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        <invCountry>IE</invCountry>

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        <name>Kawasaki Kisen Kaisha Ltd</name>
        <lei>353800FL04R73DS5P870</lei>
        <title>Kawasaki Kisen Kaisha Ltd</title>
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        <name>Vinci SA</name>
        <lei>213800WFQ334R8UXUG83</lei>
        <title>Vinci SA</title>
        <cusip>000000000</cusip>
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          <ticker value="DG"/>
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        <invCountry>FR</invCountry>
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      <invstOrSec>
        <name>Seven &amp; i Holdings Co Ltd</name>
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        <title>Seven &amp; i Holdings Co Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="JP3422950000"/>
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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>KakaoBank Corp</name>
        <lei>988400VAVCFSK6VF9Q87</lei>
        <title>KakaoBank Corp</title>
        <cusip>000000000</cusip>
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          <isin value="KR7323410001"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>KR</invCountry>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>ASR Nederland NV</name>
        <lei>7245000G0HS48PZWUD53</lei>
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        <cusip>000000000</cusip>
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          <isin value="NL0011872643"/>
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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>Kia Corp</name>
        <lei>988400V8MJK9N7OI5X76</lei>
        <title>Kia Corp</title>
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          <isin value="KR7000270009"/>
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        <assetCat>EC</assetCat>
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        <invCountry>KR</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <cusip>000000000</cusip>
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          <ticker value="N/A"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Erste Group Bank AG</name>
        <lei>PQOH26KWDF7CG10L6792</lei>
        <title>Erste Group Bank AG</title>
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          <isin value="AT0000652011"/>
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        <assetCat>EC</assetCat>
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        <invCountry>AT</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Nitori Holdings Co Ltd</name>
        <lei>N/A</lei>
        <title>Nitori Holdings Co Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="JP3756100008"/>
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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>Sekisui Chemical Co Ltd</name>
        <lei>529900KQIVT7NWFNMI70</lei>
        <title>Sekisui Chemical Co Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="JP3419400001"/>
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        <balance>29586.00000000</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>NIDEC CORP</name>
        <lei>353800IF171MZTNL6Y31</lei>
        <title>NIDEC CORP</title>
        <cusip>000000000</cusip>
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          <isin value="JP3734800000"/>
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        <balance>56675.00000000</balance>
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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>Temenos AG</name>
        <lei>5067007NW6550481FH64</lei>
        <title>Temenos AG</title>
        <cusip>000000000</cusip>
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          <isin value="CH0012453913"/>
          <ticker value="TEMN"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>CH</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Nissan Motor Co Ltd</name>
        <lei>353800DRBDH1LUTNAY26</lei>
        <title>Nissan Motor Co Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="JP3672400003"/>
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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>Compass Group PLC</name>
        <lei>2138008M6MH9OZ6U2T68</lei>
        <title>Compass Group PLC</title>
        <cusip>000000000</cusip>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>TDK Corp</name>
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        <title>TDK Corp</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Canal+ SA</name>
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        <invCountry>FR</invCountry>
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        <name>Hikari Tsushin Inc</name>
        <lei>3538001SOIIV8U3OXH94</lei>
        <title>Hikari Tsushin Inc</title>
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          <isin value="JP3783420007"/>
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        <invCountry>JP</invCountry>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>CaixaBank SA</name>
        <lei>7CUNS533WID6K7DGFI87</lei>
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        <name>Cie de Saint-Gobain SA</name>
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        <title>Cie de Saint-Gobain SA</title>
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        <name>Shionogi &amp; Co Ltd</name>
        <lei>35380049VXDTHZI3DY35</lei>
        <title>Shionogi &amp; Co Ltd</title>
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        <name>Nissin Foods Holdings Co Ltd</name>
        <lei>529900YMZMNSHC1W6V41</lei>
        <title>Nissin Foods Holdings Co Ltd</title>
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        <name>FinecoBank Banca Fineco SpA</name>
        <lei>549300L7YCATGO57ZE10</lei>
        <title>FinecoBank Banca Fineco SpA</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Mainfreight Ltd</name>
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          <ticker value="MFT"/>
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        <assetCat>EC</assetCat>
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        <invCountry>NZ</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Socionext Inc</name>
        <lei>N/A</lei>
        <title>Socionext Inc</title>
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          <isin value="JP3433500000"/>
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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>LG Energy Solution Ltd</name>
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        <title>LG Energy Solution Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="KR7373220003"/>
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          <other otherDesc="SEDOL" value="BNSP8W5"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>KR</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Covestro AG</name>
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          <isin value="DE000A40KY26"/>
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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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      <invstOrSec>
        <name>BOC Aviation Ltd</name>
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          <isin value="SG9999015267"/>
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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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      <invstOrSec>
        <name>The Bank of New York Mellon</name>
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          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="CCTUSD__00571623"/>
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        <curCd>USD</curCd>
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        <assetCat>DFE</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SingTel</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SHENZHOU INTL</name>
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        <title>Shenzhou International Group Holdings Ltd</title>
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          <other otherDesc="SEDOL" value="B0MP1B0"/>
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        <assetCat>EC</assetCat>
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        <invCountry>CN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CK Hutchison Holdings Ltd</name>
        <lei>254900Z8HM1VEPOQ2G79</lei>
        <title>CK Hutchison Holdings Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="KYG217651051"/>
          <ticker value="1"/>
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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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      <invstOrSec>
        <name>Nippon Building Fund Inc</name>
        <lei>52990053R8NL2MB32172</lei>
        <title>Nippon Building Fund Inc</title>
        <cusip>000000000</cusip>
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          <isin value="JP3027670003"/>
          <ticker value="8951"/>
          <other otherDesc="SEDOL" value="6396800"/>
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        <balance>673.00000000</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>Rakuten Group Inc</name>
        <lei>529900IMXUCQKUL1H943</lei>
        <title>Rakuten Group Inc</title>
        <cusip>000000000</cusip>
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          <isin value="JP3967200001"/>
          <ticker value="4755"/>
          <other otherDesc="SEDOL" value="6229597"/>
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        <balance>79435.00000000</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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      <invstOrSec>
        <name>Bechtle AG</name>
        <lei>529900HA2QT774RUXW59</lei>
        <title>Bechtle AG</title>
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          <isin value="DE0005158703"/>
          <ticker value="BC8"/>
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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>OMV AG</name>
        <lei>549300V62YJ9HTLRI486</lei>
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        <assetCat>EC</assetCat>
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        <invCountry>AT</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Hanwha Vision Co Ltd</name>
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        <name>East Japan Railway Co</name>
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        <name>ACS Actividades de Construccio</name>
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        <invCountry>ES</invCountry>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>RWE AG</name>
        <lei>529900GB7KCA94ACC940</lei>
        <title>RWE AG</title>
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        <assetCat>EC</assetCat>
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        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Sartorius Stedim Biotech</name>
        <lei>52990006IVXY7GCSSR39</lei>
        <title>Sartorius Stedim Biotech</title>
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        <invCountry>FR</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Helvetia Holding AG</name>
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          <isin value="CH0466642201"/>
          <ticker value="HELN"/>
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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>
        <name>Kubota Corp</name>
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          <isin value="JP3266400005"/>
          <ticker value="6326"/>
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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>ORLEN SA</name>
        <lei>259400VVMM70CQREJT74</lei>
        <title>ORLEN SA</title>
        <cusip>000000000</cusip>
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          <isin value="PLPKN0000018"/>
          <ticker value="PKN"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AstraZeneca PLC</name>
        <lei>PY6ZZQWO2IZFZC3IOL08</lei>
        <title>AstraZeneca PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0009895292"/>
          <ticker value="AZN"/>
          <other otherDesc="SEDOL" value="0989529"/>
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        <balance>74077.00000000</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>EDP Renovaveis SA</name>
        <lei>529900MUFAH07Q1TAX06</lei>
        <title>EDP Renovaveis SA</title>
        <cusip>000000000</cusip>
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          <isin value="ES0127797019"/>
          <ticker value="EDPR"/>
          <other otherDesc="SEDOL" value="B39GNW2"/>
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        <balance>23024.00000000</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>Kuehne + Nagel International A</name>
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        <title>Kuehne + Nagel International AG</title>
        <cusip>000000000</cusip>
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          <isin value="CH0025238863"/>
          <ticker value="KNIN"/>
          <other otherDesc="SEDOL" value="B142S60"/>
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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>
        <name>ENEOS Holdings Inc</name>
        <lei>3538001KQ5SAOZSQTT44</lei>
        <title>ENEOS Holdings Inc</title>
        <cusip>000000000</cusip>
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          <isin value="JP3386450005"/>
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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>Kyoto Financial Group Inc</name>
        <lei>N/A</lei>
        <title>Kyoto Financial Group Inc</title>
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          <isin value="JP3252200005"/>
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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>MORGAN STANLEY &amp; CO. LLC</name>
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        <cusip>000000000</cusip>
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          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="CCTUSD__00565568"/>
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        <curCd>USD</curCd>
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        <assetCat>DFE</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Coway Co Ltd</name>
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        <invCountry>KR</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Chocoladefabriken Lindt &amp; Spru</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>SK Hynix Inc</name>
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        <name>Siemens Energy AG</name>
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        <title>Siemens Energy AG</title>
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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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        <name>Fortescue Ltd</name>
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        <title>Fortescue Ltd</title>
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          <ticker value="FMG"/>
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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>Taisei Corp</name>
        <lei>529900TF7XJKIOWMLQ79</lei>
        <title>Taisei Corp</title>
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          <isin value="JP3443600006"/>
          <ticker value="1801"/>
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        <name>Fuji Electric Co Ltd</name>
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        <name>Logitech International SA</name>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>NEC Corp</name>
        <lei>5493000QYMPFRTEY4K28</lei>
        <title>NEC Corp</title>
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        <name>BE Semiconductor Industries NV</name>
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        <name>BP PLC</name>
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        <name>Heineken Holding NV</name>
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        <name>Shimizu Corp</name>
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        <name>KGHM Polska Miedz SA</name>
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        <name>SCREEN Holdings Co Ltd</name>
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        <name>Associated British Foods PLC</name>
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        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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      <invstOrSec>
        <name>Ricoh Co Ltd</name>
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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>Toyota Industries Corp</name>
        <lei>35380000WKGEAHEMW830</lei>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Glencore PLC</name>
        <lei>2138002658CPO9NBH955</lei>
        <title>Glencore PLC</title>
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          <other otherDesc="SEDOL" value="B4T3BW6"/>
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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>Eni SpA</name>
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        <cusip>000000000</cusip>
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          <isin value="IT0003132476"/>
          <ticker value="ENI"/>
          <other otherDesc="SEDOL" value="7145056"/>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Beijer Ref AB</name>
        <lei>549300PZZEUVH08H4G75</lei>
        <title>Beijer Ref AB</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0015949748"/>
          <ticker value="BEIJB"/>
          <other otherDesc="SEDOL" value="BP2NJ48"/>
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        <balance>23226.00000000</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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      <invstOrSec>
        <name>Wilmar International Ltd</name>
        <lei>549300H2EAI4YRLWBB20</lei>
        <title>Wilmar International Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="SG1T56930848"/>
          <ticker value="WIL"/>
          <other otherDesc="SEDOL" value="B17KC69"/>
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        <balance>164403.00000000</balance>
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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>D'ieteren Group</name>
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        <title>D'ieteren Group</title>
        <cusip>000000000</cusip>
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          <isin value="BE0974259880"/>
          <ticker value="DIE"/>
          <other otherDesc="SEDOL" value="4247494"/>
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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>MEIJI Holdings Co Ltd</name>
        <lei>5299002D52YIP6DWMV49</lei>
        <title>MEIJI Holdings Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3918000005"/>
          <ticker value="2269"/>
          <other otherDesc="SEDOL" value="B60DQV3"/>
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        <balance>19857.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Keyence Corp</name>
        <lei>529900M7PQBS7A89DZ11</lei>
        <title>Keyence Corp</title>
        <cusip>000000000</cusip>
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          <isin value="JP3236200006"/>
          <ticker value="6861"/>
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        <balance>9408.00000000</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>Mediobanca Banca di Credito Fi</name>
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        <title>Mediobanca Banca di Credito Finanziario SpA</title>
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          <isin value="IT0000062957"/>
          <ticker value="MB"/>
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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>MORGAN STANLEY &amp; CO. LLC</name>
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        <title>CURRENCY CONTRACT - DKK</title>
        <cusip>000000000</cusip>
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          <ticker value="N/A"/>
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        <assetCat>DFE</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Kobe Bussan Co Ltd</name>
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          <isin value="JP3291200008"/>
          <ticker value="3038"/>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Swire Pacific Ltd</name>
        <lei>549300KZOZHII0DGF611</lei>
        <title>Swire Pacific Ltd</title>
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          <isin value="HK0019000162"/>
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        <invCountry>HK</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Sony Group Corp</name>
        <lei>529900R5WX9N2OI2N910</lei>
        <title>Sony Group Corp</title>
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          <isin value="JP3435000009"/>
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        <name>Omron Corp</name>
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        <title>Omron Corp</title>
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        <name>Societe Generale SA</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
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        <name>Goodman Group</name>
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        <name>Croda International PLC</name>
        <lei>2138004WCNBFJEEOXV26</lei>
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        <name>Barry Callebaut AG</name>
        <lei>213800Y5RWKLDPUTT265</lei>
        <title>Barry Callebaut AG</title>
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      <invstOrSec>
        <name>Ajinomoto Co Inc</name>
        <lei>353800UT0TLROREPIC92</lei>
        <title>Ajinomoto Co Inc</title>
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        <invCountry>JP</invCountry>
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        <name>Norsk Hydro ASA</name>
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        <title>Norsk Hydro ASA</title>
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      <invstOrSec>
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        <name>Doosan Enerbility Co Ltd</name>
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        <name>CLP Holdings Ltd</name>
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      <invstOrSec>
        <name>Daiwa Securities Living Invest</name>
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          <isin value="JP3046410001"/>
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        <invCountry>JP</invCountry>
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      <invstOrSec>
        <name>Toray Industries Inc</name>
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          <isin value="JP3621000003"/>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Danone SA</name>
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        <invCountry>FR</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BHP Group Ltd</name>
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        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Unilever PLC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Elisa Oyj</name>
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        <name>Redeia Corp SA</name>
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        <name>Samsung SDI Co Ltd</name>
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        <name>Bayerische Motoren Werke AG</name>
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        <name>Avolta AG</name>
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        <name>British American Tobacco PLC</name>
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        <name>Michelin</name>
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        <name>Veolia Environnement SA</name>
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        <name>Hexagon AB</name>
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        <name>Novonesis Novozymes B</name>
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        <name>Sumitomo Metal Mining Co Ltd</name>
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        <name>Sun Hung Kai Properties Ltd</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Pan Pacific International Hold</name>
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          <isin value="JP3639650005"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ICL Group Ltd</name>
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        <invCountry>IL</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Marubeni Corp</name>
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          <isin value="JP3877600001"/>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Industria de Diseno Textil SA</name>
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        <title>Industria de Diseno Textil SA</title>
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          <isin value="ES0148396007"/>
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        <invCountry>ES</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Shimadzu Corp</name>
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          <isin value="JP3357200009"/>
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        <name>Evolution AB</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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          <ticker value="N/A"/>
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        <name>Ferrovial SE</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Nippon Prologis REIT Inc</name>
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          <isin value="JP3047550003"/>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>J Front Retailing Co Ltd</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Mitsubishi UFJ Financial Group</name>
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          <isin value="JP3902900004"/>
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        <fairValLevel>1</fairValLevel>
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        <name>Kyowa Kirin Co Ltd</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Hermes International SCA</name>
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        <name>Fujitsu Ltd</name>
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        <name>Trelleborg AB</name>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>Sampo Oyj</name>
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        <name>Kao Corp</name>
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        <name>Centrica PLC</name>
        <lei>E26EDV109X6EEPBKVH76</lei>
        <title>Centrica PLC</title>
        <cusip>000000000</cusip>
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          <isin value="GB00B033F229"/>
          <ticker value="CNA"/>
          <other otherDesc="SEDOL" value="B033F22"/>
        </identifiers>
        <balance>275256.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74867000"/>
        <valUSD>588807.46000000</valUSD>
        <pctVal>0.061240427124</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>QBE Insurance Group Ltd</name>
        <lei>549300D2FBW76FPUSG65</lei>
        <title>QBE Insurance Group Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000QBE9"/>
          <ticker value="QBE"/>
          <other otherDesc="SEDOL" value="6715740"/>
        </identifiers>
        <balance>79006.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.56287000"/>
        <valUSD>1091414.86000000</valUSD>
        <pctVal>0.113515396350</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>Mitsubishi Chemical Group Corp</name>
        <lei>353800YNKX4RQUGAR072</lei>
        <title>Mitsubishi Chemical Group Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3897700005"/>
          <ticker value="4188"/>
          <other otherDesc="SEDOL" value="B0JQTJ0"/>
        </identifiers>
        <balance>97589.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="142.64000000"/>
        <valUSD>472756.58000000</valUSD>
        <pctVal>0.049170258279</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>Reckitt Benckiser Group PLC</name>
        <lei>5493003JFSMOJG48V108</lei>
        <title>Reckitt Benckiser Group PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B24CGK77"/>
          <ticker value="RKT"/>
          <other otherDesc="SEDOL" value="B24CGK7"/>
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        <balance>34757.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74867000"/>
        <valUSD>2246041.19000000</valUSD>
        <pctVal>0.233605263449</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>Next PLC</name>
        <lei>213800WQD8ECPZP9PH98</lei>
        <title>Next PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0032089863"/>
          <ticker value="NXT"/>
          <other otherDesc="SEDOL" value="3208986"/>
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        <balance>6140.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74867000"/>
        <valUSD>1011209.21000000</valUSD>
        <pctVal>0.105173402409</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>ASMPT Ltd</name>
        <lei>529900PYFA1HFYKPT360</lei>
        <title>ASMPT Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG0535Q1331"/>
          <ticker value="522"/>
          <other otherDesc="SEDOL" value="6002453"/>
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        <balance>18943.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75470000"/>
        <valUSD>127512.94000000</valUSD>
        <pctVal>0.013262309736</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>Partners Group Holding AG</name>
        <lei>549300I3IVVWZWDHI788</lei>
        <title>Partners Group Holding AG</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CH0024608827"/>
          <ticker value="PGHN"/>
          <other otherDesc="SEDOL" value="B119QG0"/>
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        <balance>1100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.82175000"/>
        <valUSD>1439671.43000000</valUSD>
        <pctVal>0.149736712391</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>Industrivarden AB</name>
        <lei>549300TM1DLIQI3B3T37</lei>
        <title>Industrivarden AB</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0000190126"/>
          <ticker value="INDUA"/>
          <other otherDesc="SEDOL" value="B1VSK10"/>
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        <balance>18057.00000000</balance>
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        <currencyConditional curCd="SEK" exchangeRt="9.64490000"/>
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        <pctVal>0.066010416632</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>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>CURRENCY CONTRACT - SEK</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="CCTSEK__00564177"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>4891.53000000</valUSD>
        <pctVal>0.000508756099</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO. LLC</counterpartyName>
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            <amtCurSold>-132741.29000000</amtCurSold>
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            <unrealizedAppr>4891.53000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Nordea Bank Abp</name>
        <lei>529900ODI3047E2LIV03</lei>
        <title>Nordea Bank Abp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FI4000297767"/>
          <ticker value="NDA"/>
          <other otherDesc="SEDOL" value="BFM0SV9"/>
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        <balance>167131.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87970000"/>
        <valUSD>2313083.93000000</valUSD>
        <pctVal>0.240578215241</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>
      <invstOrSec>
        <name>Eiffage SA</name>
        <lei>969500OQXKE5WDM9M994</lei>
        <title>Eiffage SA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0000130452"/>
          <ticker value="FGR"/>
          <other otherDesc="SEDOL" value="B13X013"/>
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        <balance>4021.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87970000"/>
        <valUSD>547362.45000000</valUSD>
        <pctVal>0.056929832767</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>EMS-Chemie Holding AG</name>
        <lei>529900G1XFTGSE0DIX60</lei>
        <title>EMS-Chemie Holding AG</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CH0016440353"/>
          <ticker value="EMSN"/>
          <other otherDesc="SEDOL" value="7635610"/>
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        <balance>426.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.82175000"/>
        <valUSD>314931.55000000</valUSD>
        <pctVal>0.032755262029</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>
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      </invstOrSec>
      <invstOrSec>
        <name>LG Chem Ltd</name>
        <lei>988400IES4EIG7O06940</lei>
        <title>LG Chem Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KR7051910008"/>
          <ticker value="051910"/>
          <other otherDesc="SEDOL" value="6346913"/>
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        <balance>3372.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1421.50000000"/>
        <valUSD>512382.69000000</valUSD>
        <pctVal>0.053291673286</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</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>Henkel AG &amp; Co KGaA</name>
        <lei>549300VZCL1HTH4O4Y49</lei>
        <title>Henkel AG &amp; Co KGaA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE0006048432"/>
          <ticker value="HEN3"/>
          <other otherDesc="SEDOL" value="5076705"/>
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        <balance>8806.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87970000"/>
        <valUSD>684699.78000000</valUSD>
        <pctVal>0.071213953334</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</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>Barclays PLC</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0031348658"/>
          <ticker value="BARC"/>
          <other otherDesc="SEDOL" value="3134865"/>
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        <balance>727405.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74867000"/>
        <valUSD>2883697.81000000</valUSD>
        <pctVal>0.299926372505</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>Fujikura Ltd</name>
        <lei>353800PSDZ8VRCKVPL51</lei>
        <title>Fujikura Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3811000003"/>
          <ticker value="5803"/>
          <other otherDesc="SEDOL" value="6356707"/>
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        <balance>13151.00000000</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>
        <name>Ryohin Keikaku Co Ltd</name>
        <lei>549300PMNF56J66BY371</lei>
        <title>Ryohin Keikaku Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3976300008"/>
          <ticker value="7453"/>
          <other otherDesc="SEDOL" value="6758455"/>
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        <balance>14226.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="142.64000000"/>
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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>Hang Seng Bank Ltd</name>
        <lei>5493009Z5F07LWZYMK62</lei>
        <title>Hang Seng Bank Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="HK0011000095"/>
          <ticker value="11"/>
          <other otherDesc="SEDOL" value="6408374"/>
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        <balance>43765.00000000</balance>
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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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      <invstOrSec>
        <name>Toyo Suisan Kaisha Ltd</name>
        <lei>N/A</lei>
        <title>Toyo Suisan Kaisha Ltd</title>
        <cusip>892306101</cusip>
        <identifiers>
          <isin value="JP3613000003"/>
          <ticker value="2875"/>
          <other otherDesc="SEDOL" value="6899967"/>
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        <balance>5980.00000000</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>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>CURRENCY CONTRACT - NZD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="CCTNZD__00567625"/>
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        <balance>1.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-295.27000000</valUSD>
        <pctVal>-0.00003071031</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Mondi PLC</name>
        <lei>213800LOZA69QFDC9N34</lei>
        <title>Mondi PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BMWC6P49"/>
          <ticker value="MNDI"/>
          <other otherDesc="SEDOL" value="BMWC6P4"/>
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        <balance>23265.00000000</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>
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      <invstOrSec>
        <name>Eurofins Scientific SE</name>
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        <invCountry>LU</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Toyota Tsusho Corp</name>
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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>Experian PLC</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Prudential PLC</name>
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          <isin value="GB0007099541"/>
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        <assetCat>EC</assetCat>
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        <invCountry>HK</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Heineken NV</name>
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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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        <name>Sino Land Co Ltd</name>
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        <fairValLevel>1</fairValLevel>
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        <name>GPT Group/The</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Bunzl PLC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>Edenred SE</name>
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        <name>Hankook Tire &amp; Technology Co L</name>
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        <name>LG Corp</name>
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        <name>Rentokil Initial PLC</name>
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        <name>LG Display Co Ltd</name>
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        <name>Bank Hapoalim BM</name>
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        <name>Vestas Wind Systems A/S</name>
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              <counterpartyName>MORGAN STANLEY &amp; CO. LLC</counterpartyName>
              <counterpartyLei>9R7GPTSO7KV3UQJZQ078</counterpartyLei>
            </counterparties>
            <amtCurSold>-26368.00000000</amtCurSold>
            <curSold>SGD</curSold>
            <amtCurPur>20099.52000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2025-05-08</settlementDt>
            <unrealizedAppr>-100.89000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>CURRENCY CONTRACT - USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="CCTUSD__00571599"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-2601.98000000</valUSD>
        <pctVal>-0.00027062559</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO. LLC</counterpartyName>
              <counterpartyLei>9R7GPTSO7KV3UQJZQ078</counterpartyLei>
            </counterparties>
            <amtCurSold>-8533289.00000000</amtCurSold>
            <curSold>SGD</curSold>
            <amtCurPur>6545765.49000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2025-06-03</settlementDt>
            <unrealizedAppr>-2601.98000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>CURRENCY CONTRACT - GBP</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="CCTGBP__00567619"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>37015.39000000</valUSD>
        <pctVal>0.003849880390</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO. LLC</counterpartyName>
              <counterpartyLei>9R7GPTSO7KV3UQJZQ078</counterpartyLei>
            </counterparties>
            <amtCurSold>-3980667.97000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>3007919.00000000</amtCurPur>
            <curPur>GBP</curPur>
            <settlementDt>2025-05-08</settlementDt>
            <unrealizedAppr>37015.39000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-06-23</ncom:dateSigned>
      <ncom:nameOfApplicant>New York Life Investments ETF Trust</ncom:nameOfApplicant>
      <ncom:signature>Adefolahan Oyefeso</ncom:signature>
      <ncom:signerName>Adefolahan Oyefeso</ncom:signerName>
      <ncom:title>Director and Vice President, IndexIQ</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
