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        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CONG TY CO PHAN TAP DOAN DABACO VIET NAM</name>
        <lei>254900PUN45PR07DEC82</lei>
        <title>DABACO CORP COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000DBC2"/>
        </identifiers>
        <balance>57400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>60589.50000000</valUSD>
        <pctVal>0.562119674056</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sai Gon Vrg Investment Corp</name>
        <lei>N/A</lei>
        <title>SAIGON VRG INVESTMENT CORP COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000SIP7"/>
        </identifiers>
        <balance>33495.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>81789.37000000</valUSD>
        <pctVal>0.758801673650</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tong Cong ty Phan bon va Hoa chat Dau khi - Cong ty Co phan</name>
        <lei>N/A</lei>
        <title>PETROVIETNAM FERT &amp; CHEMICAL COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000DPM1"/>
        </identifiers>
        <balance>48200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>60609.11000000</valUSD>
        <pctVal>0.562301606021</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CONG TY CO PHAN TAP DOAN GELEX</name>
        <lei>254900UZ9XPJL8YEZZ51</lei>
        <title>GELEX GROUP JSC COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000GEX5"/>
        </identifiers>
        <balance>151200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>154078.06000000</valUSD>
        <pctVal>1.429460696431</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CONG TY CO PHAN TAP DOAN HOA PHAT</name>
        <lei>549300ODJEFGL5CWKD32</lei>
        <title>HOA PHAT GROUP JSC COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000HPG4"/>
        </identifiers>
        <balance>1105114.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>1083653.41000000</valUSD>
        <pctVal>10.05360502428</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CONG TY CO PHAN THANH THANH CONG - BIEN HOA</name>
        <lei>N/A</lei>
        <title>THANH THANH CONG-BIEN HOA JS COMMON STOCK</title>
        <cusip>Y09690101</cusip>
        <identifiers>
          <isin value="VN000000SBT4"/>
        </identifiers>
        <balance>128858.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>84237.11000000</valUSD>
        <pctVal>0.781510605247</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NGAN HANG THUONG MAI CO PHAN VIET NAM THINH VUONG</name>
        <lei>254900A0PM1YPJVDW880</lei>
        <title>VIETNAM PROSPERITY JSC BANK COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000VPB6"/>
        </identifiers>
        <balance>419400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>266912.90000000</valUSD>
        <pctVal>2.476287019193</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CONG TY CO PHAN VINHOMES</name>
        <lei>2549007LS0F7J946DA02</lei>
        <title>VINHOMES JSC COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000VHM0"/>
        </identifiers>
        <balance>362000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>812951.36000000</valUSD>
        <pctVal>7.542164129210</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CONG TY CO PHAN VINCOM RETAIL</name>
        <lei>N/A</lei>
        <title>VINCOM RETAIL JSC COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000VRE6"/>
        </identifiers>
        <balance>328100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>298387.43000000</valUSD>
        <pctVal>2.768292276617</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TONG CONG TY KHI VIET NAM - CONG TY CO PHAN</name>
        <lei>N/A</lei>
        <title>PETROVIETNAM GAS JSC COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000GAS3"/>
        </identifiers>
        <balance>24744.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>55472.99000000</valUSD>
        <pctVal>0.514651202893</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cong ty Co phan Chung khoan VIX</name>
        <lei>N/A</lei>
        <title>VIX SECURITIES JSC COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000VIX5"/>
        </identifiers>
        <balance>462395.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>212482.99000000</valUSD>
        <pctVal>1.971313001119</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PetroVietnam Ca Mau Fertilizer JSC</name>
        <lei>N/A</lei>
        <title>PETROVIETNAM CA MAU FERTILIZ COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000DCM9"/>
        </identifiers>
        <balance>46800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>58128.82000000</valUSD>
        <pctVal>0.539290691484</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TONG CONG TY IDICO - CTCP</name>
        <lei>N/A</lei>
        <title>IDICO CORP JSC COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000IDC7"/>
        </identifiers>
        <balance>56940.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>79262.76000000</valUSD>
        <pctVal>0.735361024864</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NGAN HANG THUONG MAI CO PHAN SAI GON - HA NOI</name>
        <lei>2549007HTI2GPELM0894</lei>
        <title>SAIGON - HANOI COMMERICIAL COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000SHB9"/>
        </identifiers>
        <balance>429828.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>208261.21000000</valUSD>
        <pctVal>1.932145396211</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cong ty Co phan Chung khoan SSI</name>
        <lei>213800IF2RICE613K743</lei>
        <title>SSI SECURITIES CORP COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000SSI1"/>
        </identifiers>
        <balance>447285.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>394739.12000000</valUSD>
        <pctVal>3.662196015343</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TONG CONG TY CO PHAN DICH VU KY THUAT DAU KHI VIET NAM</name>
        <lei>N/A</lei>
        <title>PETROVIETNAM TECHNICAL SERVI COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000PVS0"/>
        </identifiers>
        <balance>82600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>81313.59000000</valUSD>
        <pctVal>0.754387620085</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nam Kim Steel JSC</name>
        <lei>N/A</lei>
        <title>NAM KIM STEEL JSC COMMON STOCK</title>
        <cusip>Y618A4102</cusip>
        <identifiers>
          <isin value="VN000000NKG3"/>
        </identifiers>
        <balance>78580.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>35958.55000000</valUSD>
        <pctVal>0.333605796475</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CONG TY CO PHAN TAP DOAN CONG NGHE CMC</name>
        <lei>254900OB9BZ6WD0GZC08</lei>
        <title>CMC CORP COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000CMG2"/>
        </identifiers>
        <balance>29700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>35918.67000000</valUSD>
        <pctVal>0.333235809388</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CONG TY CO PHAN DAU TU VA KINH DOANH NHA KHANG DIEN</name>
        <lei>N/A</lei>
        <title>KHANG DIEN HOUSE TRADING AND COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000KDH2"/>
        </identifiers>
        <balance>178109.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>180471.92000000</valUSD>
        <pctVal>1.674329988640</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Viettel Construction JSC</name>
        <lei>N/A</lei>
        <title>VIETTEL CONSTRUCTION JOINT S COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000CTR4"/>
        </identifiers>
        <balance>12200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>39783.12000000</valUSD>
        <pctVal>0.369088281754</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TONG CONG TY CO PHAN BIA - RUOU - NUOC GIAI KHAT SAI GON</name>
        <lei>N/A</lei>
        <title>SAIGON BEER ALCOHOL BEVERAGE COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000SAB4"/>
        </identifiers>
        <balance>45000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>83233.99000000</valUSD>
        <pctVal>0.772204149715</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FPT Digital Retail JSC</name>
        <lei>N/A</lei>
        <title>FPT DIGITAL RETAIL JSC COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000FRT7"/>
        </identifiers>
        <balance>19280.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>124406.23000000</valUSD>
        <pctVal>1.154180005746</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cong ty Co phan Chung khoan VNDIRECT</name>
        <lei>254900CTFRJDDYA0L594</lei>
        <title>VNDIRECT SECURITIES CORP COMMON STOCK</title>
        <cusip>Y937AE104</cusip>
        <identifiers>
          <isin value="VN000000VND7"/>
        </identifiers>
        <balance>402350.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>225891.56000000</valUSD>
        <pctVal>2.095711139376</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CONG TY CO PHAN DAU TU DICH VU TAI CHINH HOANG HUY</name>
        <lei>N/A</lei>
        <title>HOANG HUY INVESTMENT FINANCI COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000TCH5"/>
        </identifiers>
        <balance>119916.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>79313.79000000</valUSD>
        <pctVal>0.735834456184</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CONG TY CO PHAN HANG KHONG VIETJET</name>
        <lei>254900B9MW90NGJLAM60</lei>
        <title>VIETJET AVIATION JSC COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000VJC7"/>
        </identifiers>
        <balance>57200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>189163.62000000</valUSD>
        <pctVal>1.754967319712</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SJ Group JSC</name>
        <lei>N/A</lei>
        <title>SONGDA URBAN &amp; INDUSTRIAL ZO COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000SJS9"/>
        </identifiers>
        <balance>12900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>43157.09000000</valUSD>
        <pctVal>0.400390321161</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CONG TY CO PHAN TASCO</name>
        <lei>N/A</lei>
        <title>TASCO JSC COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000HUT7"/>
        </identifiers>
        <balance>125700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>59937.70000000</valUSD>
        <pctVal>0.556072593232</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NGAN HANG THUONG MAI CO PHAN CONG THUONG VIET NAM</name>
        <lei>213800LHW17DHRGTI512</lei>
        <title>VIETNAM JS COMMERCIAL BANK F COMMON STOCK</title>
        <cusip>Y9366L105</cusip>
        <identifiers>
          <isin value="VN000000CTG7"/>
        </identifiers>
        <balance>75689.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>108272.67000000</valUSD>
        <pctVal>1.004500746327</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TONG CONG TY CO PHAN VAN TAI DAU KHI</name>
        <lei>N/A</lei>
        <title>PETROVIETNAM TRANSPORTATION COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000PVT8"/>
        </identifiers>
        <balance>61450.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>49268.70000000</valUSD>
        <pctVal>0.457090842228</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vinh Hoan Corp</name>
        <lei>N/A</lei>
        <title>VINH HOAN CORP COMMON STOCK</title>
        <cusip>Y9375V102</cusip>
        <identifiers>
          <isin value="VN000000VHC1"/>
        </identifiers>
        <balance>35580.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>67999.46000000</valUSD>
        <pctVal>0.630865649843</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NGAN HANG THUONG MAI CO PHAN SAI GON THUONG TIN</name>
        <lei>549300Y3VZJ8PV4GR334</lei>
        <title>SAIGON THUONG TIN COMMERCIAL COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000STB4"/>
        </identifiers>
        <balance>99600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>149754.28000000</valUSD>
        <pctVal>1.389346785534</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TONG CONG TY PHAT TRIEN DO THI KINH BAC-CTCP</name>
        <lei>N/A</lei>
        <title>KINH BAC CITY DEVELOPMENT HO COMMON STOCK</title>
        <cusip>Y4788W102</cusip>
        <identifiers>
          <isin value="VN000000KBC7"/>
        </identifiers>
        <balance>132600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>116257.64000000</valUSD>
        <pctVal>1.078581382968</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vietnam Dairy Products JSC</name>
        <lei>549300148GRJ07D21X63</lei>
        <title>VIETNAM DAIRY PRODUCTS JSC COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000VNM8"/>
        </identifiers>
        <balance>257800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>571016.34000000</valUSD>
        <pctVal>5.297609634039</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cong ty Co phan Chung khoan Sai Gon - Ha Noi</name>
        <lei>254900B4CEWABN6NH659</lei>
        <title>SAIGON - HANOI SECURITIES COMMON STOCK</title>
        <cusip>Y7398G102</cusip>
        <identifiers>
          <isin value="VN000000SHS3"/>
        </identifiers>
        <balance>154302.50000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>72982.92000000</valUSD>
        <pctVal>0.677099748340</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Binh Minh Plastics JSC</name>
        <lei>N/A</lei>
        <title>BINH MINH PLASTICS JSC COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000BMP5"/>
        </identifiers>
        <balance>9900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>55048.64000000</valUSD>
        <pctVal>0.510714291651</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CONG TY CO PHAN KOSY</name>
        <lei>N/A</lei>
        <title>KOSY JSC COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000KOS6"/>
        </identifiers>
        <balance>30300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>44975.20000000</valUSD>
        <pctVal>0.417257854324</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TAP DOAN VINGROUP - CONG TY CP</name>
        <lei>254900MJ9C15O3O1V757</lei>
        <title>VINGROUP JSC COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000VIC9"/>
        </identifiers>
        <balance>404400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>1057458.18000000</valUSD>
        <pctVal>9.810578523832</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CONG TY CO PHAN HOANG ANH GIA LAI</name>
        <lei>N/A</lei>
        <title>HAGL JSC COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000HAG6"/>
        </identifiers>
        <balance>182500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>91934.24000000</valUSD>
        <pctVal>0.852920803495</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TAP DOAN XANG DAU VIET NAM</name>
        <lei>N/A</lei>
        <title>VIETNAM NATIONAL PETROLEUM G COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000PLX1"/>
        </identifiers>
        <balance>22600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>29461.26000000</valUSD>
        <pctVal>0.273327125467</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NGAN HANG THUONG MAI CO PHAN NAM A</name>
        <lei>N/A</lei>
        <title>NAM A COMMERCIAL JSB COMMON STOCK</title>
        <cusip>Y61891100</cusip>
        <identifiers>
          <isin value="VN000000NAB5"/>
        </identifiers>
        <balance>139800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>88970.97000000</valUSD>
        <pctVal>0.825429037322</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Viettel Post Joint Stock Corp</name>
        <lei>N/A</lei>
        <title>VIETTEL POST JSC COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000VTP8"/>
        </identifiers>
        <balance>10900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>46106.52000000</valUSD>
        <pctVal>0.427753686600</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NGAN HANG THUONG MAI CO PHAN NGOAI THUONG VIET NAM</name>
        <lei>2549004TS5QUBFGAWE51</lei>
        <title>BANK FOR FOREIGN TRADE JSC COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000VCB4"/>
        </identifiers>
        <balance>294603.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>649134.85000000</valUSD>
        <pctVal>6.022354868427</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CONG TY CO PHAN TAP DOAN MASAN</name>
        <lei>254900M1892CMJ87XD24</lei>
        <title>MASAN GROUP CORP COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000MSN4"/>
        </identifiers>
        <balance>248420.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>597048.64000000</valUSD>
        <pctVal>5.539124549840</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cong ty Co phan Chung khoan Vietcap</name>
        <lei>254900HKR2EAQLPDRS52</lei>
        <title>VIETCAP SECURITIES JSC COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000VCI9"/>
        </identifiers>
        <balance>126582.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>180101.29000000</valUSD>
        <pctVal>1.670891465219</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TONG CONG TY DIEN LUC DAU KHI VIET NAM - CONG TY CO PHAN</name>
        <lei>N/A</lei>
        <title>PETROVIETNAM POWER CORP COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000POW7"/>
        </identifiers>
        <balance>206100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>93915.98000000</valUSD>
        <pctVal>0.871306415571</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TONG CONG TY CO PHAN XUAT NHAP KHAU VA XAY DUNG VIET NAM</name>
        <lei>N/A</lei>
        <title>VIETNAM CONSTRUCTION &amp; IMPOR COMMON STOCK</title>
        <cusip>Y9366E101</cusip>
        <identifiers>
          <isin value="VN000000VCG3"/>
        </identifiers>
        <balance>103357.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>84656.95000000</valUSD>
        <pctVal>0.785405674920</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CONG TY CO PHAN TAP DOAN KIDO</name>
        <lei>N/A</lei>
        <title>KIDO GROUP CORP COMMON STOCK</title>
        <cusip>Y4788V104</cusip>
        <identifiers>
          <isin value="VN000000KDC3"/>
        </identifiers>
        <balance>50973.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>111334.99000000</valUSD>
        <pctVal>1.032911449836</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CONG TY CO PHAN TAP DOAN C.E.O</name>
        <lei>N/A</lei>
        <title>CEO GROUP JSC COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000CEO3"/>
        </identifiers>
        <balance>92470.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>43737.01000000</valUSD>
        <pctVal>0.405770534587</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CONG TY CO PHAN TAP DOAN PC1</name>
        <lei>N/A</lei>
        <title>PC1 GROUP JSC COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000PC11"/>
        </identifiers>
        <balance>62938.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>50461.73000000</valUSD>
        <pctVal>0.468159189627</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CONG TY CO PHAN PHAT TRIEN BAT DONG SAN VAN PHU</name>
        <lei>N/A</lei>
        <title>VAN PHU REAL ESTALE DEVELOPM COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000VPI1"/>
        </identifiers>
        <balance>45864.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>93826.76000000</valUSD>
        <pctVal>0.870478676156</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CONG TY CO PHAN TAP DOAN DAU TU DIA OC NO VA</name>
        <lei>254900EFD5LHVZIE8I94</lei>
        <title>NOVALAND INVESTMENT GROUP COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000NVL0"/>
        </identifiers>
        <balance>336391.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>147466.16000000</valUSD>
        <pctVal>1.368118730036</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CONG TY CO PHAN TAP DOAN DAT XANH</name>
        <lei>254900IHB422QYOR7V95</lei>
        <title>DAT XANH GROUP COMMON STOCK</title>
        <cusip>Y20233105</cusip>
        <identifiers>
          <isin value="VN000000DXG7"/>
        </identifiers>
        <balance>153729.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>89559.48000000</valUSD>
        <pctVal>0.830888944557</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Digiworld Corp</name>
        <lei>N/A</lei>
        <title>DIGIWORLD CORP COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000DGW9"/>
        </identifiers>
        <balance>37686.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>47315.82000000</valUSD>
        <pctVal>0.438972979082</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TONG CONG TY CO PHAN KHOAN VA DICH VU KHOAN DAU KHI</name>
        <lei>N/A</lei>
        <title>PETROVIETNAM DRILLING AND WE COMMON STOCK</title>
        <cusip>Y6825E102</cusip>
        <identifiers>
          <isin value="VN000000PVD2"/>
        </identifiers>
        <balance>96052.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>64637.95000000</valUSD>
        <pctVal>0.599679208207</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NGAN HANG THUONG MAI CO PHAN DAU TU VA PHAT TRIEN VIET NAM</name>
        <lei>254900FSO240QVE6NR86</lei>
        <title>BANK FOR INVESTMENT AND DEVE COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000BID9"/>
        </identifiers>
        <balance>97283.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>129249.28000000</valUSD>
        <pctVal>1.199111449106</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cong ty Co phan Chung khoan FPT</name>
        <lei>N/A</lei>
        <title>FPT SECURITIES JSC COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000FTS5"/>
        </identifiers>
        <balance>43080.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>61957.01000000</valUSD>
        <pctVal>0.574806761348</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ducgiang Chemicals Group JSC</name>
        <lei>N/A</lei>
        <title>DUC GIANG CHEMICALS JSC COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="VN000000DGC1"/>
        </identifiers>
        <balance>65480.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="26005.00000000"/>
        <valUSD>229135.94000000</valUSD>
        <pctVal>2.125810906301</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-04-30</ncom:dateSigned>
      <ncom:nameOfApplicant>GLOBAL X FUNDS</ncom:nameOfApplicant>
      <ncom:signature>Joe Costello</ncom:signature>
      <ncom:signerName>Joe Costello</ncom:signerName>
      <ncom:title>CCO</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
