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        </identifiers>
        <balance>19042.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1940951.06000000</valUSD>
        <pctVal>0.555910930952</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MultiChoice Group Limited</name>
        <lei>254900BVQQ7DFBMSVJ81</lei>
        <title>MULTICHOICE GROUP LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="ZAE000265971"/>
        </identifiers>
        <balance>128582.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="18.05750000"/>
        <valUSD>832409.57000000</valUSD>
        <pctVal>0.238411770666</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>ZA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Allegro.eu SA</name>
        <lei>222100VRLXV3FPMG4982</lei>
        <title>ALLEGRO.EU SA COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="LU2237380790"/>
        </identifiers>
        <balance>281308.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="PLN" exchangeRt="3.74455000"/>
        <valUSD>2587668.49000000</valUSD>
        <pctVal>0.741138315600</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>PL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tongcheng Travel Holdings Limited</name>
        <lei>2549004WGGNOPL8NUL61</lei>
        <title>TONGCHENG TRAVEL HOLDINGS LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG8918W1069"/>
        </identifiers>
        <balance>272400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84155000"/>
        <valUSD>769447.37000000</valUSD>
        <pctVal>0.220378665176</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ANGEL ONE LIMITED</name>
        <lei>3358003DRK7SFA3Q3214</lei>
        <title>ANGEL ONE LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE732I01013"/>
        </identifiers>
        <balance>20728.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="85.57500000"/>
        <valUSD>735283.87000000</valUSD>
        <pctVal>0.210593841910</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEXON Co., Ltd.</name>
        <lei>5299005SFO0GAJFLKN43</lei>
        <title>NEXON CO LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3758190007"/>
        </identifiers>
        <balance>160800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="144.29500000"/>
        <valUSD>2910770.30000000</valUSD>
        <pctVal>0.833678427348</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>XP Inc.</name>
        <lei>5493008KDA8NBZRJST80</lei>
        <title>XP INC - CLASS A COMMON STOCK</title>
        <cusip>G98239109</cusip>
        <identifiers>
          <isin value="KYG982391099"/>
        </identifiers>
        <balance>172767.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3344769.12000000</valUSD>
        <pctVal>0.957980731013</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JIO FINANCIAL SERVICES LIMITED</name>
        <lei>3358003O268Q1OGBQR42</lei>
        <title>JIO FINANCIAL SERVICES LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE758E01017"/>
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        <balance>1579713.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="85.57500000"/>
        <valUSD>5291553.98000000</valUSD>
        <pctVal>1.515562530055</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tencent Holdings Limited</name>
        <lei>254900N4SLUMW4XUYY11</lei>
        <title>TENCENT HOLDINGS LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG875721634"/>
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        <balance>406700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84155000"/>
        <valUSD>25839016.52000000</valUSD>
        <pctVal>7.400594494396</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ZhongAn Online P &amp; C Insurance Co., Ltd.</name>
        <lei>5299006845ISFI2WAI41</lei>
        <title>ZHONGAN ONLINE P&amp;C INSURAN-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100002QY7"/>
        </identifiers>
        <balance>151300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84155000"/>
        <valUSD>371615.05000000</valUSD>
        <pctVal>0.106434867245</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MEITU, INC.</name>
        <lei>529900P2POH56W116T02</lei>
        <title>MEITU INC COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG5966D1051"/>
        </identifiers>
        <balance>624000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84155000"/>
        <valUSD>524406.53000000</valUSD>
        <pctVal>0.150196122044</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TRIP.COM GROUP LIMITED</name>
        <lei>2549004RMYDSRQL4KW41</lei>
        <title>TRIP.COM GROUP LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG9066F1019"/>
        </identifiers>
        <balance>133650.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84155000"/>
        <valUSD>8419649.18000000</valUSD>
        <pctVal>2.411485333353</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JD.COM, INC.</name>
        <lei>549300HVTWB0GJZ16V92</lei>
        <title>JD.COM INC-CLASS A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG8208B1014"/>
        </identifiers>
        <balance>616000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84155000"/>
        <valUSD>10125855.22000000</valUSD>
        <pctVal>2.900162563624</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Momo Com Inc</name>
        <lei>N/A</lei>
        <title>MOMO.COM INC COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0008454000"/>
        </identifiers>
        <balance>53749.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.96850000"/>
        <valUSD>547022.54000000</valUSD>
        <pctVal>0.156673610030</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fsn E-Commerce Ventures Ltd</name>
        <lei>335800X5BJYC18NHDQ91</lei>
        <title>FSN E-COMMERCE VENTURES LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE388Y01029"/>
        </identifiers>
        <balance>518913.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="85.57500000"/>
        <valUSD>1232535.86000000</valUSD>
        <pctVal>0.353012588253</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Inter &amp; Co, Inc.</name>
        <lei>N/A</lei>
        <title>INTER &amp; CO INC - BDR DEPOSITARY RECEIPT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BRINBRBDR007"/>
        </identifiers>
        <balance>141928.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="5.73205000"/>
        <valUSD>1008739.76000000</valUSD>
        <pctVal>0.288914785450</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>BR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NASPERS LIMITED</name>
        <lei>21380044BQ8812EEKT59</lei>
        <title>NASPERS LTD-N SHS COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="ZAE000325783"/>
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        <balance>38382.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="18.05750000"/>
        <valUSD>10975966.05000000</valUSD>
        <pctVal>3.143644180785</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>ZA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Delivery Hero SE</name>
        <lei>529900C3EX1FZGE48X78</lei>
        <title>DELIVERY HERO SE COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE000A2E4K43"/>
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        <balance>81066.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88086000"/>
        <valUSD>2243703.97000000</valUSD>
        <pctVal>0.642622881354</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MakeMyTrip Limited</name>
        <lei>529900DNT8HNJ7RYUO60</lei>
        <title>MAKEMYTRIP LTD COMMON STOCK</title>
        <cusip>V5633W109</cusip>
        <identifiers>
          <isin value="MU0295S00016"/>
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        <balance>31089.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3159575.07000000</valUSD>
        <pctVal>0.904939003757</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PAGSEGURO DIGITAL LTD.</name>
        <lei>391200VY4YW47I4HGH62</lei>
        <title>PAGSEGURO DIGITAL LTD-CL A COMMON STOCK</title>
        <cusip>G68707101</cusip>
        <identifiers>
          <isin value="KYG687071012"/>
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        <balance>102176.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>910388.16000000</valUSD>
        <pctVal>0.260745744693</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nu Holdings Ltd</name>
        <lei>5493002DG1RHWK9W2X27</lei>
        <title>NU HOLDINGS LTD/CAYMAN ISL-A COMMON STOCK</title>
        <cusip>G6683N103</cusip>
        <identifiers>
          <isin value="KYG6683N1034"/>
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        <balance>1154447.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13864908.47000000</valUSD>
        <pctVal>3.971070849734</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NCsoft Corporation</name>
        <lei>N/A</lei>
        <title>NCSOFT CORP COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KR7036570000"/>
        </identifiers>
        <balance>7022.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1379.70000000"/>
        <valUSD>776150.61000000</valUSD>
        <pctVal>0.222298550981</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PB Fintech Ltd</name>
        <lei>98450083AC6B01HF1F87</lei>
        <title>PB FINTECH LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE417T01026"/>
        </identifiers>
        <balance>158516.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="85.57500000"/>
        <valUSD>3263123.41000000</valUSD>
        <pctVal>0.934596451219</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NETEASE, INC.</name>
        <lei>5299004AF4DSJDB0PA32</lei>
        <title>NETEASE INC COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG6427A1022"/>
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        <balance>389000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84155000"/>
        <valUSD>9460157.75000000</valUSD>
        <pctVal>2.709499075035</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GoTo Gojek Tokopedia PT Tbk</name>
        <lei>254900MT2CH1Y5Y7OX69</lei>
        <title>GOTO GOJEK TOKOPEDIA TBK PT COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="ID1000166903"/>
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        <balance>431280700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="16290.00000000"/>
        <valUSD>1694411.59000000</valUSD>
        <pctVal>0.485299162779</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>ID</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SEA LIMITED</name>
        <lei>529900OM6JLLW44YKI15</lei>
        <title>SEA LTD-ADR DEPOSITARY RECEIPT</title>
        <cusip>81141R100</cusip>
        <identifiers>
          <isin value="US81141R1005"/>
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        <balance>127111.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20384791.07000000</valUSD>
        <pctVal>5.838440965634</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kanzhun Ltd</name>
        <lei>254900F4ZCBITP7L0251</lei>
        <title>KANZHUN LTD - ADR DEPOSITARY RECEIPT</title>
        <cusip>48553T106</cusip>
        <identifiers>
          <isin value="US48553T1060"/>
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        <balance>77395.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1312619.20000000</valUSD>
        <pctVal>0.375949387130</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Brainbees Solutions Ltd</name>
        <lei>984500FBE5B11U0E8846</lei>
        <title>BRAINBEES SOLUTIONS LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE02RE01045"/>
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        <balance>104341.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="85.57500000"/>
        <valUSD>424862.65000000</valUSD>
        <pctVal>0.121685598444</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INFO EDGE (INDIA) LIMITED</name>
        <lei>335800MXUVHTBF9DEC78</lei>
        <title>INFO EDGE INDIA LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE663F01032"/>
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        <balance>150575.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="85.57500000"/>
        <valUSD>2511782.79000000</valUSD>
        <pctVal>0.719403769582</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Swiggy Ltd</name>
        <lei>335800R11DC3QR7KH186</lei>
        <title>SWIGGY LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE00H001014"/>
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        <balance>530482.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="85.57500000"/>
        <valUSD>2064586.97000000</valUSD>
        <pctVal>0.591321691812</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TENCENT MUSIC ENTERTAINMENT GROUP</name>
        <lei>213800XTZK2GOHQTYK41</lei>
        <title>TENCENT MUSIC ENTERTAINM-ADR DEPOSITARY RECEIPT</title>
        <cusip>88034P109</cusip>
        <identifiers>
          <isin value="US88034P1093"/>
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        <balance>192258.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3237624.72000000</valUSD>
        <pctVal>0.927293330193</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BAJAJ FINANCE LIMITED</name>
        <lei>335800YTEXC3DO4Z6F68</lei>
        <title>BAJAJ FINANCE LTD COMMON STOCK</title>
        <cusip>Y05473122</cusip>
        <identifiers>
          <isin value="INE296A01024"/>
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        <balance>133198.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="85.57500000"/>
        <valUSD>14289503.23000000</valUSD>
        <pctVal>4.092679721371</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MercadoLibre, Inc.</name>
        <lei>549300DKPDN9M5S8GB14</lei>
        <title>MERCADOLIBRE INC COMMON STOCK</title>
        <cusip>58733R102</cusip>
        <identifiers>
          <isin value="US58733R1023"/>
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        <balance>7287.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18678694.23000000</valUSD>
        <pctVal>5.349795011511</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Alibaba Group Holding Limited</name>
        <lei>5493001NTNQJDH60PM02</lei>
        <title>ALIBABA GROUP HOLDING LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG017191142"/>
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        <balance>1918000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84155000"/>
        <valUSD>27859313.53000000</valUSD>
        <pctVal>7.979231027163</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>China Ruyi Holdings Limited</name>
        <lei>984500976440498D1C06</lei>
        <title>CHINA RUYI HOLDINGS LTD COMMON STOCK</title>
        <cusip>G4404N114</cusip>
        <identifiers>
          <isin value="BMG4404N1149"/>
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        <balance>984000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84155000"/>
        <valUSD>257245.06000000</valUSD>
        <pctVal>0.073677973512</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Hello Group Inc.</name>
        <lei>549300YMGLID32W48529</lei>
        <title>HELLO GROUP INC -SPN ADR DEPOSITARY RECEIPT</title>
        <cusip>423403104</cusip>
        <identifiers>
          <isin value="US4234031049"/>
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        <balance>31217.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>189487.19000000</valUSD>
        <pctVal>0.054271332424</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BROWN BROTHERS HARRIMAN &amp; CO.</name>
        <lei>5493006KMX1VFTPYPW14</lei>
        <title>FX Forward Contract: USD/HKD SETTLE 2025-06-02</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="FX Forwards" value="CCTUSD__00082659"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-85.07000000</valUSD>
        <pctVal>-0.00002436503</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BROWN BROTHERS HARRIMAN &amp; CO.</counterpartyName>
              <counterpartyLei>5493006KMX1VFTPYPW14</counterpartyLei>
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            <amtCurPur>665168.54000000</amtCurPur>
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            <settlementDt>2025-06-02</settlementDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Kakao Corp.</name>
        <lei>988400FTKUBQXKVZP434</lei>
        <title>KAKAO CORP COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KR7035720002"/>
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        <balance>118152.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1379.70000000"/>
        <valUSD>3656657.53000000</valUSD>
        <pctVal>1.047309194739</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>KINGSOFT CORPORATION LIMITED</name>
        <lei>529900UVT35D3Q7YQY41</lei>
        <title>KINGSOFT CORP LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG5264Y1089"/>
        </identifiers>
        <balance>197200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84155000"/>
        <valUSD>839946.18000000</valUSD>
        <pctVal>0.240570343321</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ONE 97 COMMUNICATIONS LIMITED</name>
        <lei>335800ZRHU5J6GSTMI23</lei>
        <title>ONE 97 COMMUNICATIONS LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE982J01020"/>
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        <balance>143776.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="85.57500000"/>
        <valUSD>1496060.05000000</valUSD>
        <pctVal>0.428488977540</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>KINGDEE INTERNATIONAL SOFTWARE GROUP COMPANY LIMITED</name>
        <lei>529900SWRZN94C5SZO63</lei>
        <title>KINGDEE INTERNATIONAL SFTWR COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG525681477"/>
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        <balance>624000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84155000"/>
        <valUSD>978786.08000000</valUSD>
        <pctVal>0.280335703537</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Qifu Technology, Inc.</name>
        <lei>N/A</lei>
        <title>QIFU TECHNOLOGY INC DEPOSITARY RECEIPT</title>
        <cusip>88557W101</cusip>
        <identifiers>
          <isin value="US88557W1018"/>
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        <balance>33013.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1356834.30000000</valUSD>
        <pctVal>0.388613105402</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BILIBILI INC.</name>
        <lei>5493008V60M52L3PIS45</lei>
        <title>BILIBILI INC-CLASS Z COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG1098A1013"/>
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        <balance>63260.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84155000"/>
        <valUSD>1186697.27000000</valUSD>
        <pctVal>0.339883883586</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JD Health International Inc</name>
        <lei>254900OM3MAXYK8PCC84</lei>
        <title>JD HEALTH INTERNATIONAL INC COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG5074A1004"/>
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        <balance>223650.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84155000"/>
        <valUSD>1145124.05000000</valUSD>
        <pctVal>0.327976830436</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MEITUAN</name>
        <lei>21380033K525E5JLIA77</lei>
        <title>MEITUAN-CLASS B COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG596691041"/>
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        <balance>950700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84155000"/>
        <valUSD>16730952.43000000</valUSD>
        <pctVal>4.791939133737</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GRAB HOLDINGS LIMITED</name>
        <lei>549300N4VQX83VPJF439</lei>
        <title>GRAB HOLDINGS LTD - CL A COMMON STOCK</title>
        <cusip>G4124C109</cusip>
        <identifiers>
          <isin value="KYG4124C1096"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Jubilant FoodWorks Limited</name>
        <lei>9845000D3B99893F5B14</lei>
        <title>JUBILANT FOODWORKS LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
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          <isin value="INE797F01020"/>
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        <balance>186754.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>VIPSHOP HOLDINGS LIMITED</name>
        <lei>549300I9F52K06HPZX60</lei>
        <title>VIPSHOP HOLDINGS LTD - ADR DEPOSITARY RECEIPT</title>
        <cusip>92763W103</cusip>
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          <isin value="US92763W1036"/>
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        <balance>104383.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>China Literature Ltd</name>
        <lei>529900YXWIZUFHMK8W28</lei>
        <title>CHINA LITERATURE LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
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          <isin value="KYG2121R1039"/>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PHOENIX TREE HOLDINGS LTD</name>
        <lei>N/A</lei>
        <title>PHOENIX TREE HOLDINGS LTD DEPOSITARY RECEIPT</title>
        <cusip>719156101</cusip>
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          <isin value="US7191561015"/>
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        <balance>179833.00000000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CD Projekt SA</name>
        <lei>259400TYO5Q8SH8TL437</lei>
        <title>CD PROJEKT SA COMMON STOCK</title>
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          <isin value="PLOPTTC00011"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ke Holdings Inc</name>
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        <title>KE HOLDINGS INC-CL A COMMON STOCK</title>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>IQIYI, INC.</name>
        <lei>222100XL8T2Q5B8MS302</lei>
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          <isin value="US46267X1081"/>
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        <balance>114170.00000000</balance>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>COUPANG, INC.</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Eternal Ltd</name>
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        <title>ETERNAL LTD COMMON STOCK</title>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Joint Stock Company Kaspi.kz</name>
        <lei>2549003YU6FARG8OAZ13</lei>
        <title>JSC KASPI.KZ ADR DEPOSITARY RECEIPT</title>
        <cusip>48581R205</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BAIDU, INC.</name>
        <lei>254900AL64IANZYI1E02</lei>
        <title>BAIDU INC-CLASS A COMMON STOCK</title>
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        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PDD Holdings Inc.</name>
        <lei>5493000573DS7005T657</lei>
        <title>PDD HOLDINGS INC DEPOSITARY RECEIPT</title>
        <cusip>722304102</cusip>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Full Truck Alliance Co Ltd</name>
        <lei>984500884LB1DP8DAC57</lei>
        <title>FULL TRUCK ALLIANCE -SPN ADR DEPOSITARY RECEIPT</title>
        <cusip>35969L108</cusip>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KUAISHOU TECHNOLOGY</name>
        <lei>300300FCDZBE6UP9ED24</lei>
        <title>KUAISHOU TECHNOLOGY COMMON STOCK</title>
        <cusip>N/A</cusip>
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        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Indian Energy Exchange Ltd</name>
        <lei>335800JRG8ZOKN1KAE97</lei>
        <title>INDIAN ENERGY EXCHANGE LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>KakaoBank Corp</name>
        <lei>988400VAVCFSK6VF9Q87</lei>
        <title>KAKAOBANK CORP COMMON STOCK</title>
        <cusip>N/A</cusip>
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        <balance>86250.00000000</balance>
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        <issuerConditional desc="N/A" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>StoneCo Ltd.</name>
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        <title>STONECO LTD-A COMMON STOCK</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Invesco Government &amp; Agency Portfolio</name>
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        <title>Invesco Government &amp; Agency Portfolio</title>
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        <assetCat>STIV</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="1778911.35" isCashCollateral="Y"/>
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      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-05-31</ncom:dateSigned>
      <ncom:nameOfApplicant>EXCHANGE TRADED CONCEPTS TRUST</ncom:nameOfApplicant>
      <ncom:signature>Dennis Lowenfels</ncom:signature>
      <ncom:signerName>Dennis Lowenfels</ncom:signerName>
      <ncom:title>CCO</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
