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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Japan Metropolitan Fund Investment Corp.</name>
        <lei>353800QDHNIP60E1LQ93</lei>
        <title>Japan Metropolitan Fund Investment Corp. REIT</title>
        <cusip>000000000</cusip>
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          <isin value="JP3039710003"/>
          <ticker value="8953"/>
          <other otherDesc="SEDOL" value="6513342"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Swire Properties Ltd.</name>
        <lei>5299001L12PHYVQ92465</lei>
        <title>Swire Properties Ltd. HKD1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="HK0000063609"/>
          <ticker value="1972"/>
          <other otherDesc="SEDOL" value="B67C2G0"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Samhaellsbyggnadsbolaget I Norden AB</name>
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        <title>Samhaellsbyggnadsbolaget I Norden AB SER'B'NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0009554454"/>
          <ticker value="SBBB"/>
          <other otherDesc="SEDOL" value="BD7Y737"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Picton Property Income Ltd.</name>
        <lei>213800RYE59K9CKR4497</lei>
        <title>Picton Property Income Ltd. ORD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B0LCW208"/>
          <ticker value="PCTN"/>
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        <balance>527809.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Palm Hills Devs Sa</name>
        <lei>213800GJ1AR3ZHMJS148</lei>
        <title>Palm Hills Devs Sa EGP2</title>
        <cusip>000000000</cusip>
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          <isin value="EGS655L1C012"/>
          <ticker value="PHDC"/>
          <other otherDesc="SEDOL" value="B2R2W06"/>
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        <balance>957417.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>EG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Highwealth Construction Corp</name>
        <lei>N/A</lei>
        <title>Highwealth Construction Corp TWD10</title>
        <cusip>000000000</cusip>
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          <isin value="TW0002542008"/>
          <ticker value="2542"/>
          <other otherDesc="SEDOL" value="6154075"/>
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        <currencyConditional curCd="TWD" exchangeRt="31.21100000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Melisron Ltd.</name>
        <lei>213800B9SL62L9VLO604</lei>
        <title>Melisron Ltd. ILS1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0003230146"/>
          <ticker value="MLSR"/>
          <other otherDesc="SEDOL" value="6565310"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Esr Kendall Square Reit</name>
        <lei>N/A</lei>
        <title>Esr Kendall Square Reit KRW1000</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KR7365550003"/>
          <ticker value="365550"/>
          <other otherDesc="SEDOL" value="BNNGHG0"/>
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        <balance>172118.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Reysas Gyo</name>
        <lei>789000T4S7UQTKKLGO34</lei>
        <title>Reysas Gyo TRY1 (B SHARES)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TRERGYO00019"/>
          <ticker value="RYGYO"/>
          <other otherDesc="SEDOL" value="B3VKHD1"/>
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        <balance>556409.00000000</balance>
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        <currencyConditional curCd="TRY" exchangeRt="43.95215000"/>
        <valUSD>409659.03000000</valUSD>
        <pctVal>0.037828503206</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Poly Property Group Co. Limited</name>
        <lei>N/A</lei>
        <title>Poly Property Group Co. Limited NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="HK0119000674"/>
          <ticker value="119"/>
          <other otherDesc="SEDOL" value="6220987"/>
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        <balance>2093967.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Propnex Limited</name>
        <lei>N/A</lei>
        <title>Propnex Limited NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SGXE65086469"/>
          <ticker value="PROP"/>
          <other otherDesc="SEDOL" value="BD3W0Z8"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Frasers Centrepoint Trust</name>
        <lei>5493002RGQ266FKERZ83</lei>
        <title>Frasers Centrepoint Trust NPV (REAL ESTATE INVESTMENT TRUST)</title>
        <cusip>000000000</cusip>
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          <isin value="SG1T60930966"/>
          <ticker value="FCT"/>
          <other otherDesc="SEDOL" value="B17NZ47"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Aims Apac Reit</name>
        <lei>549300MGNQOBQ3KVN734</lei>
        <title>Aims Apac Reit NPV(REIT)</title>
        <cusip>000000000</cusip>
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          <isin value="SG2D63974620"/>
          <ticker value="AAREIT"/>
          <other otherDesc="SEDOL" value="B58DLN5"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>FirstService Corp.</name>
        <lei>5493000XUDIV75BCF118</lei>
        <title>FirstService Corp. COM NPV</title>
        <cusip>33767E202</cusip>
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          <isin value="CA33767E2024"/>
          <ticker value="FSV"/>
          <other otherDesc="SEDOL" value="BJMKSJ5"/>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>VGP NV</name>
        <lei>315700NENYPIXFR94T49</lei>
        <title>VGP NV NPV</title>
        <cusip>000000000</cusip>
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          <other otherDesc="SEDOL" value="B29L881"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Minto Apartment Real Estate Investment Trust</name>
        <lei>8945004CL5S09C4BXW65</lei>
        <title>Minto Apartment Real Estate Investment Trust UNIT</title>
        <cusip>60448E103</cusip>
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          <ticker value="MI-U"/>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Derwent London PLC</name>
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        <title>Derwent London PLC ORD GBP0.05</title>
        <cusip>000000000</cusip>
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          <ticker value="DLN"/>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Nomura Real Estate Master Fund, Inc.</name>
        <lei>353800TNNZOQ1CPZE086</lei>
        <title>Nomura Real Estate Master Fund, Inc. REIT</title>
        <cusip>000000000</cusip>
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          <isin value="JP3048110005"/>
          <ticker value="3462"/>
          <other otherDesc="SEDOL" value="BYSJJF4"/>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Waypoint Reit Ltd.</name>
        <lei>5493003CS5K82RREKA54</lei>
        <title>Waypoint Reit Ltd. NPV (STAPLED)</title>
        <cusip>000000000</cusip>
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          <isin value="AU0000088064"/>
          <ticker value="WPR"/>
          <other otherDesc="SEDOL" value="BLBQ285"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Centurion Corp Ltd</name>
        <lei>N/A</lei>
        <title>Centurion Corp Ltd NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SG2D51973063"/>
          <ticker value="CENT"/>
          <other otherDesc="SEDOL" value="B631Q03"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Wharf Real Estate Investment Co Ltd.</name>
        <lei>529900QLPKS8U9QOPB59</lei>
        <title>Wharf Real Estate Investment Co Ltd. HKD0.1</title>
        <cusip>000000000</cusip>
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          <isin value="KYG9593A1040"/>
          <ticker value="1997"/>
          <other otherDesc="SEDOL" value="BF0GWS4"/>
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        <balance>1571751.00000000</balance>
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        <valUSD>5807048.43000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Retail Estates</name>
        <lei>5493007CO5W5OBFG7L21</lei>
        <title>Retail Estates NPV</title>
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          <isin value="BE0003720340"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MBK Public Company Limited</name>
        <lei>N/A</lei>
        <title>MBK Public Company Limited THB1(NVDR)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TH0480010R12"/>
          <ticker value="MBK-R"/>
          <other otherDesc="SEDOL" value="6361723"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Irish Residential Properties REIT PLC</name>
        <lei>635400EOPACLULRENY18</lei>
        <title>Irish Residential Properties REIT PLC EUR0.10</title>
        <cusip>000000000</cusip>
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          <isin value="IE00BJ34P519"/>
          <ticker value="IRES"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Star Mica Holdings Co Ltd.</name>
        <lei>N/A</lei>
        <title>Star Mica Holdings Co Ltd. NPV</title>
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          <isin value="JP3399340003"/>
          <ticker value="2975"/>
          <other otherDesc="SEDOL" value="BJXRGM4"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Hulic Co Ltd.</name>
        <lei>3538002E12E7IHAKTB10</lei>
        <title>Hulic Co Ltd. NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3360800001"/>
          <ticker value="3003"/>
          <other otherDesc="SEDOL" value="6805317"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Goldcrest Co Ltd</name>
        <lei>N/A</lei>
        <title>Goldcrest Co Ltd NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3306800008"/>
          <ticker value="8871"/>
          <other otherDesc="SEDOL" value="6123343"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Sinpas Gayrimenkul</name>
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        <title>Sinpas Gayrimenkul TRY1 (C SHARES)</title>
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          <isin value="TRESNGY00019"/>
          <ticker value="SNGYO"/>
          <other otherDesc="SEDOL" value="B1YLGL8"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SM Prime Holdings Inc.</name>
        <lei>254900SZK83MIAB8CU32</lei>
        <title>SM Prime Holdings Inc. ORD PHP1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="PHY8076N1120"/>
          <ticker value="SMPH"/>
          <other otherDesc="SEDOL" value="6818843"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hufvudstaden AB</name>
        <lei>213800UEV5ZAFFVQ4J85</lei>
        <title>Hufvudstaden AB SER'A'NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0000170375"/>
          <ticker value="HUFVA"/>
          <other otherDesc="SEDOL" value="4449137"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Huang Hsiang Construction Corp.</name>
        <lei>N/A</lei>
        <title>Huang Hsiang Construction Corp. TWD10</title>
        <cusip>000000000</cusip>
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          <isin value="TW0002545001"/>
          <ticker value="2545"/>
          <other otherDesc="SEDOL" value="6156037"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Intea Fastigheter AB (publ)</name>
        <lei>549300KD3XGX3754UW61</lei>
        <title>Intea Fastigheter AB (publ) NPV B</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0017072259"/>
          <ticker value="INTEAB"/>
          <other otherDesc="SEDOL" value="BQ3QQ53"/>
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        <balance>197957.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SK Eternix Co Ltd.</name>
        <lei>988400SCOUZGV8BFWM17</lei>
        <title>SK Eternix Co Ltd. KRW200</title>
        <cusip>000000000</cusip>
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          <isin value="KR7475150009"/>
          <ticker value="475150"/>
          <other otherDesc="SEDOL" value="BMCM580"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Cencosud Shopping SA</name>
        <lei>N/A</lei>
        <title>Cencosud Shopping SA COM NPV</title>
        <cusip>000000000</cusip>
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          <isin value="CL0002941178"/>
          <ticker value="CENCOMAL"/>
          <other otherDesc="SEDOL" value="BSY13H2"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CL</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Hoshino Resorts Reit Inc</name>
        <lei>353800DF2MUZWFL4IL56</lei>
        <title>Hoshino Resorts Reit Inc REIT</title>
        <cusip>000000000</cusip>
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          <isin value="JP3047610005"/>
          <ticker value="3287"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Land &amp; Houses PCL</name>
        <lei>529900O7AEACUWP7KS87</lei>
        <title>Land &amp; Houses PCL THB1(NVDR)</title>
        <cusip>000000000</cusip>
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          <ticker value="LH-R"/>
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        <assetCat>EC</assetCat>
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        <invCountry>TH</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Emlak Konut Gayrimenkul Yatirim Ortakligi A.S.</name>
        <lei>789000IA5R88NAGSC462</lei>
        <title>Emlak Konut Gayrimenkul Yatirim Ortakligi A.S. TRY1 (B SHARES)</title>
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        <assetCat>EC</assetCat>
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        <invCountry>TR</invCountry>
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      <invstOrSec>
        <name>Mirvac Group</name>
        <lei>N/A</lei>
        <title>Mirvac Group STAPLED SECURITIES</title>
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        <invCountry>AU</invCountry>
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      <invstOrSec>
        <name>Mitsubishi Estate Logistics REIT Investment Corp.</name>
        <lei>353800YYSGZU31ICQK38</lei>
        <title>Mitsubishi Estate Logistics REIT Investment Corp. REIT</title>
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        <invCountry>JP</invCountry>
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        <name>Loadstar Capital K K</name>
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        <title>Loadstar Capital K K NPV</title>
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          <isin value="JP3982600003"/>
          <ticker value="3482"/>
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        <invCountry>JP</invCountry>
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      <invstOrSec>
        <name>Amata Corp. Public Co Ltd.</name>
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        <title>Amata Corp. Public Co Ltd. THB1(ALIEN)</title>
        <cusip>000000000</cusip>
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        <invCountry>TH</invCountry>
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      <invstOrSec>
        <name>Nomura Real Estate Holdings Inc.</name>
        <lei>353800UZ91CT24OL9P59</lei>
        <title>Nomura Real Estate Holdings Inc. NPV</title>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NTT UD REIT Investment Corporation</name>
        <lei>N/A</lei>
        <title>NTT UD REIT Investment Corporation REIT</title>
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          <isin value="JP3041770003"/>
          <ticker value="8956"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Klabin S.A.</name>
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        <assetCat>EP</assetCat>
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        <invCountry>BR</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Slate Grocery Reit</name>
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          <isin value="CA8310622037"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Sankei Real Estate Incorporation</name>
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          <isin value="JP3048880003"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Mugen Estate Co Ltd</name>
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          <isin value="JP3912500000"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Ayala Corp.</name>
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          <isin value="PHY0486V1154"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>China Resources Land Ltd.</name>
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          <isin value="KYG2108Y1052"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Suntec Real Estate Investment Trust</name>
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        <title>Suntec Real Estate Investment Trust NPV (REAL ESTATE INVESTMENT TRUST)</title>
        <cusip>000000000</cusip>
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          <isin value="SG1Q52922370"/>
          <ticker value="SUN"/>
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        <assetCat>EC</assetCat>
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        <invCountry>SG</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PT Pakuwon Jati Tbk</name>
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        <title>PT Pakuwon Jati Tbk IDR25</title>
        <cusip>000000000</cusip>
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          <isin value="ID1000122500"/>
          <ticker value="PWON"/>
          <other otherDesc="SEDOL" value="B4KWQ72"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Sella Capital Real Estated Ltd</name>
        <lei>N/A</lei>
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          <isin value="IL0011096448"/>
          <ticker value="SLARL"/>
          <other otherDesc="SEDOL" value="B2QF712"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SCENTRE GROUP LTD</name>
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        <title>Scentre Group Ltd. NPV STAPLED UNIT</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000SCG8"/>
          <ticker value="SCG"/>
          <other otherDesc="SEDOL" value="BLZH0Z7"/>
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        <assetCat>EC</assetCat>
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        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Ziraat Gayr Menkul Yatirim Ortaklig</name>
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        <invCountry>TR</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Frasers Logistics &amp; Commercial Trust</name>
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          <ticker value="FLT"/>
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        <invCountry>SG</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Homeco Daily Needs Reit</name>
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        <title>Homeco Daily Needs Reit NPV</title>
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        <invCountry>AU</invCountry>
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      <invstOrSec>
        <name>Ayala Land Inc.</name>
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        <name>DWS GOVERNMENT AND AGENCY SECURITIES PORTFOLIO DWS GOVERNMENT CASH INSTITUTIONAL SHARES</name>
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        <issuerCat>RF</issuerCat>
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        <name>Quality Houses Public Co Ltd.</name>
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        <name>Heiwa Real Estate Co.,Ltd.</name>
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        <name>Nippon Building Fund Inc.</name>
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        <title>Nippon Building Fund Inc. REIT</title>
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          <ticker value="8951"/>
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        <name>Grand City Properties SA</name>
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          <ticker value="GYC"/>
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        <invCountry>DE</invCountry>
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        <name>Neinor Homes SA</name>
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        <title>Neinor Homes SA EUR4.2073</title>
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        <name>Sun Frontier Fudosan Co Ltd</name>
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        <title>Sun Frontier Fudosan Co Ltd NPV</title>
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          <ticker value="8934"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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      <invstOrSec>
        <name>Swiss Prime Site AG</name>
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          <isin value="CH0008038389"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>China Overseas Land &amp; Investment Ltd.</name>
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        <title>China Overseas Land &amp; Investment Ltd. NPV</title>
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          <isin value="HK0688002218"/>
          <ticker value="688"/>
          <other otherDesc="SEDOL" value="6192150"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Pandox AB (publ)</name>
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        <title>Pandox AB (publ) SER'B'NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SE0007100359"/>
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          <other otherDesc="SEDOL" value="BZ0CT92"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Redefine Properties Ltd.</name>
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          <isin value="ZAE000190252"/>
          <ticker value="RDF"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>ZA</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Dios Fastigheter AB</name>
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        <title>Dios Fastigheter AB NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0001634262"/>
          <ticker value="DIOS"/>
          <other otherDesc="SEDOL" value="B1323T9"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ichigo Office REIT Investment Corp.</name>
        <lei>N/A</lei>
        <title>Ichigo Office REIT Investment Corp. REIT</title>
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          <isin value="JP3046300004"/>
          <ticker value="8975"/>
          <other otherDesc="SEDOL" value="B0LNCF6"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Safestore Holdings PLC</name>
        <lei>213800WGA3YSJC1YOH73</lei>
        <title>Safestore Holdings PLC ORD GBP0.01</title>
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          <isin value="GB00B1N7Z094"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Savills PLC</name>
        <lei>213800WXICGMBWHTA933</lei>
        <title>Savills PLC ORD GBP0.025</title>
        <cusip>000000000</cusip>
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          <isin value="GB00B135BJ46"/>
          <ticker value="SVS"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Logistea AB</name>
        <lei>549300ZSB0ZCKM1SL747</lei>
        <title>Logistea AB SER'B'NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SE0017131337"/>
          <ticker value="LOGIB"/>
          <other otherDesc="SEDOL" value="BPG98P6"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Amata Corp. Public Co Ltd.</name>
        <lei>N/A</lei>
        <title>Amata Corp. Public Co Ltd. THB1(NVDR)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TH0617010R19"/>
          <ticker value="AMATA-R"/>
          <other otherDesc="SEDOL" value="6592965"/>
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        <currencyConditional curCd="THB" exchangeRt="31.08500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Gecina SA</name>
        <lei>9695003E4MMA10IBTR26</lei>
        <title>Gecina SA EUR7.50</title>
        <cusip>000000000</cusip>
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          <isin value="FR0010040865"/>
          <ticker value="GFC"/>
          <other otherDesc="SEDOL" value="7742468"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Ingenia Communities Group</name>
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          <isin value="AU000000INA9"/>
          <ticker value="INA"/>
          <other otherDesc="SEDOL" value="B84GSC7"/>
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        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Swedish Logistic Property AB</name>
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        <title>Swedish Logistic Property AB SER'B'NPV</title>
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          <ticker value="SLPB"/>
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        <assetCat>EC</assetCat>
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        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Crombie Real Estate Investment Trust</name>
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        <title>Crombie Real Estate Investment Trust TRUST UNITS</title>
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          <ticker value="CRR-U"/>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Matrix Concepts Holdings Berhad</name>
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        <invCountry>MY</invCountry>
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        <name>Kerry Properties Ltd.</name>
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        <title>Kerry Properties Ltd. ORD HKD1</title>
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        <name>SK REIT Co Ltd</name>
        <lei>N/A</lei>
        <title>SK REIT Co Ltd KRW500</title>
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        <name>Growthpoint Properties Australia Ltd.</name>
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        <title>Growthpoint Properties Australia Ltd. UNITS NPV</title>
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        <name>Centuria Office REIT</name>
        <lei>984500D9D1RFE9AF4796</lei>
        <title>Centuria Office REIT NPV</title>
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          <ticker value="COF"/>
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        <invCountry>AU</invCountry>
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      <invstOrSec>
        <name>Allos SA</name>
        <lei>N/A</lei>
        <title>Allos SA COM NPV</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
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      <invstOrSec>
        <name>Nippon Kanzai Holdings Co Ltd.</name>
        <lei>N/A</lei>
        <title>Nippon Kanzai Holdings Co Ltd. NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3695010003"/>
          <ticker value="9347"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TMG Holding</name>
        <lei>N/A</lei>
        <title>TMG Holding EGP10</title>
        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>EG</invCountry>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>ESR-REIT</name>
        <lei>5493008PFX3JN1RMMD48</lei>
        <title>ESR-REIT NPV REIT (POST-SPLT)</title>
        <cusip>000000000</cusip>
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          <isin value="SGXC55341835"/>
          <ticker value="EREIT"/>
          <other otherDesc="SEDOL" value="BVDJZ16"/>
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        <balance>766946.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>SG</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Atrium Ljungberg AB</name>
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        <title>Atrium Ljungberg AB SER'B'NPV</title>
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        <identifiers>
          <isin value="SE0024320832"/>
          <ticker value="ATRLJB"/>
          <other otherDesc="SEDOL" value="BTXYPL7"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>China Overseas Property Holdings Ltd.</name>
        <lei>N/A</lei>
        <title>China Overseas Property Holdings Ltd. HKD0.001</title>
        <cusip>000000000</cusip>
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          <isin value="KYG2118M1096"/>
          <ticker value="2669"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Japan Logistics Fund Inc.</name>
        <lei>3538004KZWISCQO70151</lei>
        <title>Japan Logistics Fund Inc. REIT</title>
        <cusip>000000000</cusip>
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          <isin value="JP3046230003"/>
          <ticker value="8967"/>
          <other otherDesc="SEDOL" value="B07NL19"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Mirarth Holdings Inc.</name>
        <lei>N/A</lei>
        <title>Mirarth Holdings Inc. NPV</title>
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          <isin value="JP3460800000"/>
          <ticker value="8897"/>
          <other otherDesc="SEDOL" value="6416355"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Argan</name>
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        <title>Argan EUR2</title>
        <cusip>000000000</cusip>
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          <isin value="FR0010481960"/>
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          <other otherDesc="SEDOL" value="B1YKDN6"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>GemLife Communities Group Ltd.</name>
        <lei>N/A</lei>
        <title>GemLife Communities Group Ltd. NPV</title>
        <cusip>000000000</cusip>
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          <isin value="AU0000402562"/>
          <ticker value="GLF"/>
          <other otherDesc="SEDOL" value="BQYL129"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Citycon Oyj</name>
        <lei>549300P8N0P6KDGTJ206</lei>
        <title>Citycon Oyj NPV</title>
        <cusip>000000000</cusip>
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          <isin value="FI4000369947"/>
          <ticker value="CTY1S"/>
          <other otherDesc="SEDOL" value="BHWV281"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mitsui Fudosan Accommodations Fund Inc.</name>
        <lei>N/A</lei>
        <title>Mitsui Fudosan Accommodations Fund Inc. REIT</title>
        <cusip>000000000</cusip>
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          <isin value="JP3046440008"/>
          <ticker value="3226"/>
          <other otherDesc="SEDOL" value="B182BB2"/>
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        <balance>2547.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Axis Real Estate Investment Trust</name>
        <lei>N/A</lei>
        <title>Axis Real Estate Investment Trust NPV (REAL ESTATE INVESTMENT TRUST)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="MYL5106TO008"/>
          <ticker value="AXRB"/>
          <other otherDesc="SEDOL" value="B0CMCL8"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MY</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Tera Yatirim Teknoloji Holding AS</name>
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        <title>Tera Yatirim Teknoloji Holding AS TRY1</title>
        <cusip>000000000</cusip>
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          <isin value="TRAGLOBL91Q0"/>
          <ticker value="TEHOL"/>
          <other otherDesc="SEDOL" value="B03MT61"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Catena AB</name>
        <lei>549300EMLM7AH5LDLY65</lei>
        <title>Catena AB NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SE0001664707"/>
          <ticker value="CATE"/>
          <other otherDesc="SEDOL" value="B131GJ7"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Interrent Real Estate Investment Trust</name>
        <lei>N/A</lei>
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        <cusip>46071W205</cusip>
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          <isin value="CA46071W2058"/>
          <ticker value="IIP-U"/>
          <other otherDesc="SEDOL" value="B1L9R12"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>CHINA VANKE COMPANY LTD</name>
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        <title>China Vanke Co Ltd. 'H'CNY1</title>
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        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>FIBRA MONTERREY SAPI DE CV</name>
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        <title>Banco Invex SA CBFI (FIBRA MTYSAPI DE CV) NPV</title>
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        <invCountry>MX</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>International Workplace Group PLC</name>
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        <title>International Workplace Group PLC ORD USD0.0124</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Dexus</name>
        <lei>N/A</lei>
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          <ticker value="DXS"/>
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        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Is Gayrimenkul Yatirim Ortakligi A.S.</name>
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        <invCountry>TR</invCountry>
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        <name>Entra ASA</name>
        <lei>549300APU14LQKTYCH34</lei>
        <title>Entra ASA NOK1</title>
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          <ticker value="ENTRA"/>
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        <assetCat>EC</assetCat>
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        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>United Urban Investment Corp.</name>
        <lei>353800GYZWBD7BDCN841</lei>
        <title>United Urban Investment Corp. REIT</title>
        <cusip>000000000</cusip>
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          <isin value="JP3045540006"/>
          <ticker value="8960"/>
          <other otherDesc="SEDOL" value="6723839"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Pik-Specialized Homebuilder Pjsc</name>
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        <title>Pik-Specialized Homebuilder Pjsc RUB62.5(RUB)</title>
        <cusip>000000000</cusip>
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          <ticker value="PIKK"/>
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        <invCountry>RU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Ki-Star Real Estate Co Ltd</name>
        <lei>N/A</lei>
        <title>Ki-Star Real Estate Co Ltd NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3277620005"/>
          <ticker value="3465"/>
          <other otherDesc="SEDOL" value="BYZ0S75"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EUREX DEUTSCHLAND</name>
        <lei>529900LN3S50JPU47S06</lei>
        <title>EURO STOXX 50 Index Futures(FESX) Index Fut</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE000C7PXYX3"/>
          <ticker value="VGH6"/>
          <other otherDesc="FIGI" value="BBG01FZGXT10"/>
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        <pctVal>0.004471746707</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>EUREX DEUTSCHLAND</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>EURO STOXX 50</issuerName>
                <issueTitle>EURO STOXX 50</issueTitle>
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                  <cusip value="000000000"/>
                  <ticker value="SX5E"/>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>A-LIVING SMART CITY SERVICES CO LTD</name>
        <lei>3003007MSHCO6ZTTSZ09</lei>
        <title>A-Living Smart City Services Co Ltd. CNY1 H</title>
        <cusip>000000000</cusip>
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          <isin value="CNE100002RY5"/>
          <ticker value="3319"/>
          <other otherDesc="SEDOL" value="BFWK4M2"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Open House Group Co Ltd</name>
        <lei>529900WQOGPBIJEHW865</lei>
        <title>Open House Group Co Ltd NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3173540000"/>
          <ticker value="3288"/>
          <other otherDesc="SEDOL" value="BD3D170"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Tosei Corporation</name>
        <lei>N/A</lei>
        <title>Tosei Corporation NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3595070008"/>
          <ticker value="8923"/>
          <other otherDesc="SEDOL" value="6735823"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Isras Investment Company Ltd.</name>
        <lei>N/A</lei>
        <title>Isras Investment Company Ltd. ILS1</title>
        <cusip>000000000</cusip>
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          <isin value="IL0006130343"/>
          <ticker value="ISRS"/>
          <other otherDesc="SEDOL" value="6461496"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CA Immobilien Anlagen AG</name>
        <lei>5299003ICAPV07J0R180</lei>
        <title>CA Immobilien Anlagen AG NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AT0000641352"/>
          <ticker value="CAI"/>
          <other otherDesc="SEDOL" value="5681046"/>
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        <balance>29340.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.84695450"/>
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        <pctVal>0.084450179974</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Advancetek Enterpr</name>
        <lei>N/A</lei>
        <title>Advancetek Enterpr TWD10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0001442002"/>
          <ticker value="1442"/>
          <other otherDesc="SEDOL" value="6871664"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hammerson PLC</name>
        <lei>213800G1C9KKVVDN1A60</lei>
        <title>Hammerson PLC ORD GBP0.05</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BRJQ8J25"/>
          <ticker value="HMSO"/>
          <other otherDesc="SEDOL" value="BRJQ8J2"/>
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        <balance>538681.00000000</balance>
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        <pctVal>0.246239125537</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Kiwi Property Group Limited</name>
        <lei>N/A</lei>
        <title>Kiwi Property Group Limited NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NZKPGE0001S9"/>
          <ticker value="KPG"/>
          <other otherDesc="SEDOL" value="BTDY2M7"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NZ</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City Developments Ltd.</name>
        <lei>254900BPLPJS0RJ72373</lei>
        <title>City Developments Ltd. NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SG1R89002252"/>
          <ticker value="CIT"/>
          <other otherDesc="SEDOL" value="6197928"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Nepi Rockcastle NV</name>
        <lei>549300FMWM53K9ULYT15</lei>
        <title>Nepi Rockcastle NV EUR 0.01</title>
        <cusip>000000000</cusip>
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          <isin value="NL0015000RT3"/>
          <ticker value="NRP"/>
          <other otherDesc="SEDOL" value="BLF9GQ6"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Kiler Holding AS</name>
        <lei>789000K4SQFMZFF45621</lei>
        <title>Kiler Holding AS TRY1</title>
        <cusip>000000000</cusip>
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          <ticker value="KLRHO"/>
          <other otherDesc="SEDOL" value="BMWPNC9"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CapitaLand China Trust</name>
        <lei>5493007T7JU82E186P49</lei>
        <title>CapitaLand China Trust NPV (REAL ESTATE INVESTMENT TRUST)</title>
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          <isin value="SG1U25933169"/>
          <ticker value="CLCT"/>
          <other otherDesc="SEDOL" value="B1HL3P8"/>
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        <assetCat>EC</assetCat>
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        <invCountry>SG</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Starts Corporation Inc.</name>
        <lei>N/A</lei>
        <title>Starts Corporation Inc. NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3399200009"/>
          <ticker value="8850"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Wallenstam AB</name>
        <lei>21380081R2P9MKFQBD25</lei>
        <title>Wallenstam AB SER'B'NPV</title>
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          <ticker value="WALLB"/>
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        <invCountry>SE</invCountry>
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      <invstOrSec>
        <name>UEM Sunrise Berhad</name>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MY</invCountry>
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        <name>Parque Arauco Sa</name>
        <lei>2549001WW2PV1Y0UEU97</lei>
        <title>Parque Arauco Sa NPV</title>
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        <name>Airport City Ltd.</name>
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        <title>Airport City Ltd. ILS0.01</title>
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          <ticker value="ARPT"/>
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        <invCountry>IL</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Ichigo Hotel Reit Inv Corp</name>
        <lei>N/A</lei>
        <title>Ichigo Hotel Reit Inv Corp REIT</title>
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          <ticker value="3463"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Huaku Development Company Ltd.</name>
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        <title>Huaku Development Company Ltd. TWD10</title>
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      <invstOrSec>
        <name>STOCKLAND TRUST MANAGEMENT LTD</name>
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      <invstOrSec>
        <name>Kawasan Industri Jababeka Tbk PT</name>
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          <isin value="ID1000072507"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Platzer Fastigheter Holding AB (publ)</name>
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          <isin value="SE0004977692"/>
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        <name>Sunway Real Estate</name>
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          <isin value="MYL5176TO001"/>
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        <invCountry>MY</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>KEPPEL REIT LTD</name>
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        <title>Keppel REIT Ltd. NPV (REIT)</title>
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          <isin value="SG1T22929874"/>
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          <other otherDesc="SEDOL" value="B12RQH4"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Samty Residential Investment Corp</name>
        <lei>N/A</lei>
        <title>Samty Residential Investment Corp REIT</title>
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          <isin value="JP3047960004"/>
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      <invstOrSec>
        <name>Digital Core REIT Management Pte Ltd</name>
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        <title>Digital Core REIT Management Pte Ltd NPV (REIT)</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Heba Fastighets Ab</name>
        <lei>549300B1UZTBDU27UJ88</lei>
        <title>Heba Fastighets Ab SER'B'NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SE0017911480"/>
          <ticker value="HEBAB"/>
          <other otherDesc="SEDOL" value="BLDBCW2"/>
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        <assetCat>EC</assetCat>
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        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Japan Excellent Inc</name>
        <lei>35380015J62221TE0D86</lei>
        <title>Japan Excellent Inc REIT</title>
        <cusip>000000000</cusip>
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          <isin value="JP3046420000"/>
          <ticker value="8987"/>
          <other otherDesc="SEDOL" value="B15T1R2"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Fukuoka Reit Corp</name>
        <lei>N/A</lei>
        <title>Fukuoka Reit Corp REIT</title>
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          <isin value="JP3046240002"/>
          <ticker value="8968"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>HONGKONG LAND HOLDINGS LTD</name>
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        <curCd>USD</curCd>
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        <invCountry>BM</invCountry>

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        <fairValLevel>1</fairValLevel>
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        <name>DigiCo Infrastructure REIT</name>
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        <title>DigiCo Infrastructure REIT NPV</title>
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        <name>Chong Hong Construction Co Ltd</name>
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          <ticker value="5534"/>
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        <name>Arealink Co Ltd</name>
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          <isin value="JP3167620008"/>
          <ticker value="8914"/>
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        <name>Mobimo Holding AG</name>
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        <name>Advance Residence Investment Corp.</name>
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        <name>Gav-Yam Lands Corp Ltd.</name>
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        <name>Montea NV</name>
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        <title>Montea NV NPV</title>
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        <invCountry>BE</invCountry>
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      <invstOrSec>
        <name>Africa Israel Residences Ltd.</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
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      <invstOrSec>
        <name>LaSalle LOGIPORT REIT</name>
        <lei>353800II3DI1RPKBB314</lei>
        <title>LaSalle LOGIPORT REIT REIT</title>
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          <isin value="JP3048180008"/>
          <ticker value="3466"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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      </invstOrSec>
      <invstOrSec>
        <name>Goodman Group</name>
        <lei>N/A</lei>
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          <isin value="AU000000GMG2"/>
          <ticker value="GMG"/>
          <other otherDesc="SEDOL" value="B03FYZ4"/>
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        <balance>2084962.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Parkway Life Real Estate Investment Trust</name>
        <lei>549300I4DKVD2OF5LW91</lei>
        <title>Parkway Life Real Estate Investment Trust NPV (REAL ESTATE INVESTMENT TRUST)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG1V52937132"/>
          <ticker value="PREIT"/>
          <other otherDesc="SEDOL" value="B23WXW9"/>
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        <balance>462612.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Daiwa Office Investment Corporation</name>
        <lei>N/A</lei>
        <title>Daiwa Office Investment Corporation REIT</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3046310003"/>
          <ticker value="8976"/>
          <other otherDesc="SEDOL" value="B0LNTF5"/>
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        <balance>569.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Daiwa Securities Living Investment Corporation</name>
        <lei>N/A</lei>
        <title>Daiwa Securities Living Investment Corporation REIT</title>
        <cusip>000000000</cusip>
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          <isin value="JP3046410001"/>
          <ticker value="8986"/>
          <other otherDesc="SEDOL" value="B15T1S3"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hysan Development Co Ltd.</name>
        <lei>5299007BABFLKIH9HL03</lei>
        <title>Hysan Development Co Ltd. NPV</title>
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          <isin value="HK0014000126"/>
          <ticker value="14"/>
          <other otherDesc="SEDOL" value="6449629"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Vonovia SE</name>
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        <title>Vonovia SE NPV</title>
        <cusip>000000000</cusip>
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          <isin value="DE000A1ML7J1"/>
          <ticker value="VNA"/>
          <other otherDesc="SEDOL" value="BBJPFY1"/>
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        <balance>742032.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hyprop Investments</name>
        <lei>3789003E3E1AD1E96166</lei>
        <title>Hyprop Investments NPV</title>
        <cusip>000000000</cusip>
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          <isin value="ZAE000190724"/>
          <ticker value="HYP"/>
          <other otherDesc="SEDOL" value="BN8SXL8"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hung Sheng Constru</name>
        <lei>N/A</lei>
        <title>Hung Sheng Constru TWD10</title>
        <cusip>000000000</cusip>
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          <isin value="TW0002534005"/>
          <ticker value="2534"/>
          <other otherDesc="SEDOL" value="6432889"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Nexus Industrial Reit</name>
        <lei>549300VXQ93JIP08X629</lei>
        <title>Nexus Industrial Reit TR UNIT</title>
        <cusip>65344U101</cusip>
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          <isin value="CA65344U1012"/>
          <ticker value="NXR-U"/>
          <other otherDesc="SEDOL" value="BNC3CQ7"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Sakura Development</name>
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        <title>Sakura Development TWD10</title>
        <cusip>000000000</cusip>
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          <isin value="TW0002539004"/>
          <ticker value="2539"/>
          <other otherDesc="SEDOL" value="6018632"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Londonmetric Property PLC</name>
        <lei>213800OCERWWPQDURL87</lei>
        <title>Londonmetric Property PLC ORD GBP0.10</title>
        <cusip>000000000</cusip>
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          <isin value="GB00B4WFW713"/>
          <ticker value="LMP"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>GLP J-REIT</name>
        <lei>353800E27V9KA51K2I90</lei>
        <title>GLP J-REIT REIT</title>
        <cusip>000000000</cusip>
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          <isin value="JP3047510007"/>
          <ticker value="3281"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Hang Lung Properties Ltd.</name>
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        <title>Hang Lung Properties Ltd. NPV</title>
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          <isin value="HK0101000591"/>
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        <assetCat>EC</assetCat>
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        <invCountry>HK</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Covivio SA</name>
        <lei>969500P8M3W2XX376054</lei>
        <title>Covivio SA EUR3</title>
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          <ticker value="COV"/>
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        <invCountry>FR</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Shaftesbury Capital PLC</name>
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        <name>Eco World Development Group Berhad</name>
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        <name>Keppel DC REIT Management Pte Ltd.</name>
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        <name>Hulic Reit, Inc.</name>
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        <name>WHA Corporation Public Co Ltd.</name>
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        <invCountry>TH</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>RL Commercial REIT Inc.</name>
        <lei>N/A</lei>
        <title>RL Commercial REIT Inc. PHP1</title>
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        <invCountry>PH</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Peker Gayrimenkul Yatirim Ortakligi AS</name>
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        <title>Peker Gayrimenkul Yatirim Ortakligi AS TRY1</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>TAG Immobilien AG</name>
        <lei>529900TAE68USJNXLR59</lei>
        <title>TAG Immobilien AG NPV</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Henderson Land Development Co Ltd.</name>
        <lei>529900SYQB7IVR9QGN76</lei>
        <title>Henderson Land Development Co Ltd. NPV</title>
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          <isin value="HK0012000102"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>UNITE Group PLC</name>
        <lei>213800BBUUWVDH9YI827</lei>
        <title>UNITE Group PLC ORD GBP0.25</title>
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          <isin value="GB0006928617"/>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>FIBRA UNO ADMINISTRACION SA DE CV</name>
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        <title>Banco Actinver SA CBFI (FIBRA UNO ADMINISTRACION SA DE CV)</title>
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      <invstOrSec>
        <name>Shurgard Self Storage Ltd</name>
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        <title>Shurgard Self Storage Ltd NPV</title>
        <cusip>000000000</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Boardwalk Real Estate Investment Trust</name>
        <lei>549300RMNRTTJRCOYW23</lei>
        <title>Boardwalk Real Estate Investment Trust TRUST UNITS</title>
        <cusip>096631106</cusip>
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          <isin value="CA0966311064"/>
          <ticker value="BEI-U"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Relo Group Inc</name>
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        <title>Relo Group Inc NPV</title>
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          <isin value="JP3755200007"/>
          <ticker value="8876"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AP (Thailand) Public Co Ltd.</name>
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        <title>AP (Thailand) Public Co Ltd. THB1(NVDR)</title>
        <cusip>000000000</cusip>
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          <isin value="TH0308010R15"/>
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        <assetCat>EC</assetCat>
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        <invCountry>TH</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Mori Trust Reit Inc.</name>
        <lei>N/A</lei>
        <title>Mori Trust Reit Inc. REIT</title>
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          <isin value="JP3046170001"/>
          <ticker value="8961"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Taiwan Land Development Corp</name>
        <lei>N/A</lei>
        <title>Taiwan Land Development Corp</title>
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          <isin value="TW0002841004"/>
          <ticker value="2841"/>
          <other otherDesc="SEDOL" value="6141088"/>
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        <invCountry>TW</invCountry>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>First Capital Real Estate Investment Trust</name>
        <lei>54930042UG2WCIIAQZ39</lei>
        <title>First Capital Real Estate Investment Trust UNIT</title>
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          <ticker value="FCR-U"/>
          <other otherDesc="SEDOL" value="BKSLS55"/>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Cibus Nordic Real Estate AB</name>
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        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Vanguard International Equity Index Funds</name>
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        <title>Vanguard International Equity Index Funds GLB EX US ETF</title>
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          <ticker value="VNQI"/>
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        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Nippon REIT Investment Corporation</name>
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      <invstOrSec>
        <name>Central Pattana Public Co Ltd.</name>
        <lei>N/A</lei>
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        <invCountry>TH</invCountry>
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        <name>Growthpoint Properties Ltd</name>
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        <name>Jalco Holdings Inc</name>
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        <name>SmartCentres Real Estate Investment Trust</name>
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        <title>SmartCentres Real Estate Investment Trust VARIABLE VTG UNITS</title>
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        <name>Japan Prime Realty Investment Corporation</name>
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        <title>Japan Prime Realty Investment Corporation REIT</title>
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        <name>REGION GROUP</name>
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        <title>REGION GROUP NPV</title>
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      <invstOrSec>
        <name>Sun Hung Kai Properties Ltd.</name>
        <lei>529900LUMD393RD3S874</lei>
        <title>Sun Hung Kai Properties Ltd. NPV</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Israel Canada T.R Ltd.</name>
        <lei>984500FA8AEA2CE5RB18</lei>
        <title>Israel Canada T.R Ltd. ILS1</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Corem Property Group AB</name>
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          <isin value="SE0010714287"/>
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        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Asset World Corp PCL</name>
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        <title>Asset World Corp PCL THB1 (NVDR)</title>
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          <isin value="TH9436010R15"/>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>TH</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Aroundtown SA</name>
        <lei>529900H4DWG3KWMBMQ39</lei>
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        <cusip>000000000</cusip>
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          <isin value="LU1673108939"/>
          <ticker value="AT1"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>DE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Sansiri Public Co Ltd.</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
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          <isin value="TH0577C10Z12"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>TH</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HMC Capital Limited</name>
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        <title>HMC Capital Limited NPV</title>
        <cusip>000000000</cusip>
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          <isin value="AU0000058943"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Avrupakent Gayrimenkul Yatirim Ortakligi AS</name>
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        <cusip>000000000</cusip>
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          <isin value="TREAVRK00024"/>
          <ticker value="AVPGY"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>TR</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Tritax Big Box REIT PLC</name>
        <lei>213800L6X88MIYPVR714</lei>
        <title>Tritax Big Box REIT PLC ORD GBP0.01</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BG49KP99"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Lydia Holding AS</name>
        <lei>789000HL93GPG4KIXY82</lei>
        <title>Lydia Holding AS TRY1</title>
        <cusip>000000000</cusip>
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          <isin value="TRAMIPAZ91J8"/>
          <ticker value="LYDHO"/>
          <other otherDesc="SEDOL" value="B03MWD9"/>
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        <balance>81075.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>TR</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Capitaland Ascott Trust</name>
        <lei>549300W6RTG7Y32IWY65</lei>
        <title>Capitaland Ascott Trust NPV STAPLES UNITS (REIT)</title>
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          <isin value="SGXC16332337"/>
          <ticker value="CLAS"/>
          <other otherDesc="SEDOL" value="BG0RZ29"/>
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        <assetCat>EC</assetCat>
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        <invCountry>SG</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NorthWest Healthcare Properties REIT</name>
        <lei>254900P6YIXMWDQDD912</lei>
        <title>NorthWest Healthcare Properties REIT UNITS</title>
        <cusip>667495105</cusip>
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          <isin value="CA6674951059"/>
          <ticker value="NWH-U"/>
          <other otherDesc="SEDOL" value="B4Y8WM3"/>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CK Asset Holdings Ltd.</name>
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        <title>CK Asset Holdings Ltd. HKD1</title>
        <cusip>000000000</cusip>
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          <isin value="KYG2177B1014"/>
          <ticker value="1113"/>
          <other otherDesc="SEDOL" value="BYZQ077"/>
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        <assetCat>EC</assetCat>
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        <invCountry>HK</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Hankyu Hanshin REIT Inc</name>
        <lei>N/A</lei>
        <title>Hankyu Hanshin REIT Inc REIT</title>
        <cusip>000000000</cusip>
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          <isin value="JP3046320002"/>
          <ticker value="8977"/>
          <other otherDesc="SEDOL" value="B0LLJ37"/>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>IGB Real Estate Investment Trust</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
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          <isin value="MYL5227TO002"/>
          <ticker value="IGBREIT"/>
          <other otherDesc="SEDOL" value="B89JCF2"/>
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        <assetCat>EC</assetCat>
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        <invCountry>MY</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Allreal Holding AG</name>
        <lei>5067006XH174LA44H658</lei>
        <title>Allreal Holding AG CHF1</title>
        <cusip>000000000</cusip>
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          <isin value="CH0008837566"/>
          <ticker value="ALLN"/>
          <other otherDesc="SEDOL" value="5914270"/>
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        <assetCat>EC</assetCat>
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        <invCountry>CH</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SOSiLA Logistics REIT Inc</name>
        <lei>N/A</lei>
        <title>SOSiLA Logistics REIT Inc REIT</title>
        <cusip>000000000</cusip>
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          <isin value="JP3048960003"/>
          <ticker value="2979"/>
          <other otherDesc="SEDOL" value="BG0WNL9"/>
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        <invCountry>JP</invCountry>
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        <name>EZ Tec Empreendimentos Participacoes SA</name>
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        <invCountry>BR</invCountry>
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        <name>Delpha Construction Co Ltd.</name>
        <lei>N/A</lei>
        <title>Delpha Construction Co Ltd. TWD10</title>
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        <invCountry>TW</invCountry>
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        <name>S P Setia Berhad</name>
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        <invCountry>MY</invCountry>
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        <name>Starts Proceed Investment Corporation</name>
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        <title>Starts Proceed Investment Corporation REIT</title>
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          <isin value="JP3046340000"/>
          <ticker value="8979"/>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Guangzhou R&amp;F Properties Co Ltd.</name>
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        <title>Guangzhou R&amp;F Properties Co Ltd. 'H'CNY0.25</title>
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          <ticker value="2777"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Mirarth Real Estate Investment Corp.</name>
        <lei>353800B55299YP0HS329</lei>
        <title>Mirarth Real Estate Investment Corp. REIT</title>
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          <isin value="JP3048750008"/>
          <ticker value="3492"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Comforia Residential REIT.Inc</name>
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        <name>Chong Hong Construction Co Ltd</name>
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        <name>Fabege AB</name>
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        <name>Nippon Prologis Reit Inc</name>
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        <name>Killam Apartment Real Estate Investment Trust</name>
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        <name>Wihlborgs Fastigheter AB</name>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Precinct Properties Nz &amp; Precinct Pro Inv</name>
        <lei>N/A</lei>
        <title>Precinct Properties Nz &amp; Precinct Pro Inv UNITS NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NZAPTE0001S3"/>
          <ticker value="PCT"/>
          <other otherDesc="SEDOL" value="6093275"/>
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        <balance>1845195.00000000</balance>
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        <valUSD>1212394.35000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NZ</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Farglory Land Development Co., Ltd.</name>
        <lei>N/A</lei>
        <title>Farglory Land Development Co., Ltd. TWD10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0005522007"/>
          <ticker value="5522"/>
          <other otherDesc="SEDOL" value="6203687"/>
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        <balance>270840.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="31.21100000"/>
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        <pctVal>0.054328965826</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Bangun Kosambi Sukses</name>
        <lei>N/A</lei>
        <title>Bangun Kosambi Sukses IDR20</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="ID1000208309"/>
          <ticker value="CBDK"/>
          <other otherDesc="SEDOL" value="BTTMXC2"/>
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        <balance>535069.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="16765.00000000"/>
        <valUSD>180324.48000000</valUSD>
        <pctVal>0.016651421475</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Vicinity Centres Re Ltd</name>
        <lei>549300S7GOEVR0EGFN47</lei>
        <title>Vicinity Centres Re Ltd NPV (STAPLED SECURITY)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000VCX7"/>
          <ticker value="VCX"/>
          <other otherDesc="SEDOL" value="BY7QXS7"/>
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        <balance>3972211.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.40321300"/>
        <valUSD>6935452.39000000</valUSD>
        <pctVal>0.640429634803</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Xior Student Housing NV</name>
        <lei>549300JK7HFOCP0U8K85</lei>
        <title>Xior Student Housing NV NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BE0974288202"/>
          <ticker value="XIOR"/>
          <other otherDesc="SEDOL" value="BZ1NNF8"/>
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        <balance>38923.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84695450"/>
        <valUSD>1378692.72000000</valUSD>
        <pctVal>0.127310465925</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Primary Health Properties PLC</name>
        <lei>213800Y5CJHXOATK7X11</lei>
        <title>Primary Health Properties PLC ORD GBP0.125</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BYRJ5J14"/>
          <ticker value="PHP"/>
          <other otherDesc="SEDOL" value="BYRJ5J1"/>
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        <balance>2666741.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74379800"/>
        <valUSD>3882882.85000000</valUSD>
        <pctVal>0.358550979197</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Merlin Properties Socimi SA</name>
        <lei>959800L8KD863DP30X04</lei>
        <title>Merlin Properties Socimi SA EUR1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="ES0105025003"/>
          <ticker value="MRL"/>
          <other otherDesc="SEDOL" value="BNGNB77"/>
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        <balance>389467.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84695450"/>
        <valUSD>6902259.41000000</valUSD>
        <pctVal>0.637364547356</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Pavilion Real Estate Investment Trust</name>
        <lei>N/A</lei>
        <title>Pavilion Real Estate Investment Trust UNITS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="MYL5212TO004"/>
          <ticker value="PREIT"/>
          <other otherDesc="SEDOL" value="B79YDV3"/>
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        <balance>1236750.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MYR" exchangeRt="3.89100000"/>
        <valUSD>619805.32000000</valUSD>
        <pctVal>0.057233713450</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MY</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 RESOURCES MIXC LIFESTYLE SERVICES LTD</name>
        <lei>N/A</lei>
        <title>China Resources Mixc Lifestyle Services Ltd. USD0.00001</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG2122G1064"/>
          <ticker value="1209"/>
          <other otherDesc="SEDOL" value="BMXWXT6"/>
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        <balance>639695.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.82215000"/>
        <valUSD>3892725.40000000</valUSD>
        <pctVal>0.359459854400</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Charter Hall Retail Reit</name>
        <lei>N/A</lei>
        <title>Charter Hall Retail Reit UNITS NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000CQR9"/>
          <ticker value="CQR"/>
          <other otherDesc="SEDOL" value="6225595"/>
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        <balance>507223.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.40321300"/>
        <valUSD>1463963.88000000</valUSD>
        <pctVal>0.135184527311</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Anant Raj Ltd</name>
        <lei>335800J1QMHJ15K7PF47</lei>
        <title>Anant Raj Ltd INR2.00</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE242C01024"/>
          <ticker value="ARCP"/>
          <other otherDesc="SEDOL" value="B0BP4L2"/>
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        <balance>172739.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="90.97625000"/>
        <valUSD>1005945.20000000</valUSD>
        <pctVal>0.092890424566</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>REA Group Ltd.</name>
        <lei>894500KA4UBDATOFPN36</lei>
        <title>REA Group Ltd. ORD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000REA9"/>
          <ticker value="REA"/>
          <other otherDesc="SEDOL" value="6198578"/>
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        <balance>52290.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.40321300"/>
        <valUSD>6200436.50000000</valUSD>
        <pctVal>0.572557211847</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Onewo Inc.</name>
        <lei>N/A</lei>
        <title>Onewo Inc. CNY1 H</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE100005K85"/>
          <ticker value="2602"/>
          <other otherDesc="SEDOL" value="BPJPDT0"/>
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        <balance>317632.00000000</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.82215000"/>
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        <pctVal>0.071431490916</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CRE Logistics REIT Inc</name>
        <lei>N/A</lei>
        <title>CRE Logistics REIT Inc REIT</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3048680007"/>
          <ticker value="3487"/>
          <other otherDesc="SEDOL" value="BFXZ9X2"/>
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        <balance>677.00000000</balance>
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        <valUSD>712449.00000000</valUSD>
        <pctVal>0.065788563921</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Land Securities Group PLC</name>
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        <title>Land Securities Group PLC ORD GBP0.106666666</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BYW0PQ60"/>
          <ticker value="LAND"/>
          <other otherDesc="SEDOL" value="BYW0PQ6"/>
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        <currencyConditional curCd="GBP" exchangeRt="0.74379800"/>
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        <pctVal>0.616871501436</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Mitsubishi Estate Co Ltd</name>
        <lei>353800KOFMRGOXSJ5Z65</lei>
        <title>Mitsubishi Estate Co Ltd NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3899600005"/>
          <ticker value="8802"/>
          <other otherDesc="SEDOL" value="6596729"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CapitaLand Integrated Commercial Trust</name>
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        <title>CapitaLand Integrated Commercial Trust NPV (REAL ESTATE INVESTMENT TRUST)</title>
        <cusip>000000000</cusip>
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          <isin value="SG1M51904654"/>
          <ticker value="CICT"/>
          <other otherDesc="SEDOL" value="6420129"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>RFA Financial Inc.</name>
        <lei>N/A</lei>
        <title>RFA Financial Inc. COM</title>
        <cusip>761927102</cusip>
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          <ticker value="RFA"/>
          <other otherDesc="SEDOL" value="BTPNFJ0"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Kindom Development Company Limited</name>
        <lei>N/A</lei>
        <title>Kindom Development Company Limited TWD10</title>
        <cusip>000000000</cusip>
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          <isin value="TW0002520004"/>
          <ticker value="2520"/>
          <other otherDesc="SEDOL" value="6491329"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Canadian Apartment Properties Real Estate Investment Trust</name>
        <lei>549300B1MYVTQEB2DI90</lei>
        <title>Canadian Apartment Properties Real Estate Investment Trust TRUST UNITS</title>
        <cusip>134921105</cusip>
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          <isin value="CA1349211054"/>
          <ticker value="CAR-U"/>
          <other otherDesc="SEDOL" value="2117599"/>
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        <balance>160077.00000000</balance>
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        <valUSD>4429597.08000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>KLCC Property Holdings Berhad</name>
        <lei>N/A</lei>
        <title>KLCC Property Holdings Berhad STAPLED UNITS(REIT &amp; SHARE)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="MYL5235SS008"/>
          <ticker value="KLCCSS"/>
          <other otherDesc="SEDOL" value="B92NSW7"/>
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        <valUSD>472917.73000000</valUSD>
        <pctVal>0.043669902420</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Aedifica SA</name>
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        <cusip>000000000</cusip>
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          <isin value="BE0003851681"/>
          <ticker value="AED"/>
          <other otherDesc="SEDOL" value="B1G5XP1"/>
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        <assetCat>EC</assetCat>
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        <invCountry>BE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Da-Li Construction Co Ltd</name>
        <lei>N/A</lei>
        <title>Da-Li Construction Co Ltd TWD10</title>
        <cusip>000000000</cusip>
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          <isin value="TW0006177009"/>
          <ticker value="6177"/>
          <other otherDesc="SEDOL" value="6432458"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Klepierre SA</name>
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        <title>Klepierre SA EUR1.40</title>
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          <isin value="FR0000121964"/>
          <ticker value="LI"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>FR</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Cyrela Brazil Realty S.A. Empreendimentos E Participacoes</name>
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          <isin value="BRCYREACNPR4"/>
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        <assetCat>EP</assetCat>
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        <invCountry>BR</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Menivim-The New Reit Ltd</name>
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        <cusip>000000000</cusip>
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          <isin value="IL0011405730"/>
          <ticker value="MNRT"/>
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        <invCountry>IL</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UOL Group Ltd.</name>
        <lei>254900O9PRCWTMR86R25</lei>
        <title>UOL Group Ltd. NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SG1S83002349"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>SG</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sansiri Public Co Ltd.</name>
        <lei>N/A</lei>
        <title>Sansiri Public Co Ltd. THB1.07(NVDR)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TH0577010R15"/>
          <ticker value="SIRI-R"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>TH</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ruentex Development Co Ltd</name>
        <lei>N/A</lei>
        <title>Ruentex Development Co Ltd TWD10</title>
        <cusip>000000000</cusip>
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          <isin value="TW0009945006"/>
          <ticker value="9945"/>
          <other otherDesc="SEDOL" value="6748423"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PT Bumi Serpong Damai Tbk</name>
        <lei>N/A</lei>
        <title>PT Bumi Serpong Damai Tbk IDR100</title>
        <cusip>000000000</cusip>
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          <isin value="ID1000110802"/>
          <ticker value="BSDE"/>
          <other otherDesc="SEDOL" value="B2RJPM0"/>
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        <balance>7204715.00000000</balance>
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        <currencyConditional curCd="IDR" exchangeRt="16765.00000000"/>
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        <pctVal>0.032937297372</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>prashkovsky investments and construction ltd</name>
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        <title>prashkovsky investments and construction ltd ILS0.01</title>
        <cusip>000000000</cusip>
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          <isin value="IL0011021289"/>
          <ticker value="PRSK"/>
          <other otherDesc="SEDOL" value="B3CR140"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sekisui House REIT,Inc.</name>
        <lei>N/A</lei>
        <title>Sekisui House REIT,Inc. REIT</title>
        <cusip>000000000</cusip>
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          <isin value="JP3047820000"/>
          <ticker value="3309"/>
          <other otherDesc="SEDOL" value="BSKRKL7"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Azrieli Group</name>
        <lei>N/A</lei>
        <title>Azrieli Group ILS0.10</title>
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          <isin value="IL0011194789"/>
          <ticker value="AZRG"/>
          <other otherDesc="SEDOL" value="B5MN1W0"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Aspen Group Limited ( Australia)</name>
        <lei>529900EO4LDRP0T6V445</lei>
        <title>Aspen Group Limited ( Australia) STAPLED NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000APZ8"/>
          <ticker value="APZ"/>
          <other otherDesc="SEDOL" value="6361057"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Mitsui Fudosan Co Ltd.</name>
        <lei>353800ND4ZKNZDYKMF33</lei>
        <title>Mitsui Fudosan Co Ltd. NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3893200000"/>
          <ticker value="8801"/>
          <other otherDesc="SEDOL" value="6597603"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Capitaland India Trust</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
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          <isin value="SG1V35936920"/>
          <ticker value="CLINT"/>
          <other otherDesc="SEDOL" value="B23DMQ9"/>
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        <assetCat>EC</assetCat>
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        <invCountry>SG</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Deutsche Wohnen SE</name>
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        <title>Deutsche Wohnen SE NPV (BR)</title>
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          <ticker value="DWNI"/>
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        <invCountry>DE</invCountry>
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        <name>Great Portland Estates PLC</name>
        <lei>213800JMEDD2Q4N1MC42</lei>
        <title>Great Portland Estates PLC ORD GBP0.15263157894</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Centuria Industrial REIT</name>
        <lei>N/A</lei>
        <title>Centuria Industrial REIT NPV</title>
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        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Altarea SCA</name>
        <lei>969500ICGCY1PD6OT783</lei>
        <title>Altarea SCA NPV</title>
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          <ticker value="ALTA"/>
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        <invCountry>FR</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>DWS GOVERNMENT MONEY MARKET SERIES INSTITUTIONAL SHARES</name>
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        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BIG Shopping Centers</name>
        <lei>N/A</lei>
        <title>BIG Shopping Centers ILS1</title>
        <cusip>000000000</cusip>
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          <isin value="IL0010972607"/>
          <ticker value="BIG"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Global one Real Estate Investment</name>
        <lei>N/A</lei>
        <title>Global one Real Estate Investment REIT</title>
        <cusip>000000000</cusip>
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          <isin value="JP3044520009"/>
          <ticker value="8958"/>
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        <balance>971.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="156.12500000"/>
        <valUSD>872578.38000000</valUSD>
        <pctVal>0.080575140858</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Lifestyle Communities Ltd.</name>
        <lei>984500BDEL5B024BCA39</lei>
        <title>Lifestyle Communities Ltd. NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000LIC9"/>
          <ticker value="LIC"/>
          <other otherDesc="SEDOL" value="6137195"/>
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        <balance>107971.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.40321300"/>
        <valUSD>381649.94000000</valUSD>
        <pctVal>0.035242103608</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DLF Ltd.</name>
        <lei>335800PJLUEOB8914F48</lei>
        <title>DLF Ltd. INR2</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="INE271C01023"/>
          <ticker value="DLFU"/>
          <other otherDesc="SEDOL" value="B1YLCV0"/>
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        <balance>964819.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="90.97625000"/>
        <valUSD>6403934.58000000</valUSD>
        <pctVal>0.591348516830</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Dream Industrial Real Estate Investment Trust</name>
        <lei>549300QOI0TM3CBYUH79</lei>
        <title>Dream Industrial Real Estate Investment Trust TRUST UNIT</title>
        <cusip>26153W109</cusip>
        <identifiers>
          <isin value="CA26153W1095"/>
          <ticker value="DIR-U"/>
          <other otherDesc="SEDOL" value="BMH4P92"/>
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        <balance>288729.00000000</balance>
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        <currencyConditional curCd="CAD" exchangeRt="1.36385000"/>
        <valUSD>2811395.04000000</valUSD>
        <pctVal>0.259608255887</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Castellum AB</name>
        <lei>549300GU5OHTR1T5IY68</lei>
        <title>Castellum AB NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0000379190"/>
          <ticker value="CAST"/>
          <other otherDesc="SEDOL" value="B0XP0T0"/>
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        <balance>371744.00000000</balance>
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        <currencyConditional curCd="SEK" exchangeRt="9.02260000"/>
        <valUSD>4950351.52000000</valUSD>
        <pctVal>0.457122569347</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Warehouse De Pauw SCA</name>
        <lei>549300HWDYC5JXC85138</lei>
        <title>Warehouse De Pauw SCA NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BE0974349814"/>
          <ticker value="WDP"/>
          <other otherDesc="SEDOL" value="BK8VQD9"/>
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        <balance>192600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84695450"/>
        <valUSD>5921574.30000000</valUSD>
        <pctVal>0.546806675780</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JSL Construction &amp; Development Co Ltd</name>
        <lei>N/A</lei>
        <title>JSL Construction &amp; Development Co Ltd TWD10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="TW0002540002"/>
          <ticker value="2540"/>
          <other otherDesc="SEDOL" value="6872151"/>
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        <balance>300280.00000000</balance>
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        <currencyConditional curCd="TWD" exchangeRt="31.21100000"/>
        <valUSD>447374.96000000</valUSD>
        <pctVal>0.041311246353</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SEGRO PLC</name>
        <lei>213800XC35KGM9NFC641</lei>
        <title>SEGRO PLC ORD GBP0.10</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B5ZN1N88"/>
          <ticker value="SGRO"/>
          <other otherDesc="SEDOL" value="B5ZN1N8"/>
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        <balance>1268354.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.74379800"/>
        <valUSD>14344477.73000000</valUSD>
        <pctVal>1.324589675983</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Poly Property Services Co Ltd.</name>
        <lei>N/A</lei>
        <title>Poly Property Services Co Ltd. CNY1 H</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CNE100003PV3"/>
          <ticker value="6049"/>
          <other otherDesc="SEDOL" value="BHR0FS4"/>
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        <balance>155393.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.82215000"/>
        <valUSD>636499.14000000</valUSD>
        <pctVal>0.058775244765</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Electra Real Estate Ltd.</name>
        <lei>N/A</lei>
        <title>Electra Real Estate Ltd. NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0010940448"/>
          <ticker value="ELCRE"/>
          <other otherDesc="SEDOL" value="B0H5D31"/>
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        <balance>33017.00000000</balance>
        <units>NS</units>
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        <valUSD>586973.57000000</valUSD>
        <pctVal>0.054201982500</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Jinushi Co Ltd</name>
        <lei>N/A</lei>
        <title>Jinushi Co Ltd NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3714200007"/>
          <ticker value="3252"/>
          <other otherDesc="SEDOL" value="B28BWW4"/>
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        <balance>18200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="156.12500000"/>
        <valUSD>398097.68000000</valUSD>
        <pctVal>0.036760911542</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Resilient REIT Ltd.</name>
        <lei>378900F37FF47D486C58</lei>
        <title>Resilient REIT Ltd. NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="ZAE000209557"/>
          <ticker value="RES"/>
          <other otherDesc="SEDOL" value="BZ1MVY0"/>
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        <balance>260623.00000000</balance>
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        <currencyConditional curCd="ZAR" exchangeRt="15.91750000"/>
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        <pctVal>0.134683599028</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Workspace Group PLC</name>
        <lei>2138003GUZRFIN3UT430</lei>
        <title>Workspace Group PLC ORD GBP1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B67G5X01"/>
          <ticker value="WKP"/>
          <other otherDesc="SEDOL" value="B67G5X0"/>
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        <balance>137622.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.74379800"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Amot Investments Limited</name>
        <lei>N/A</lei>
        <title>Amot Investments Limited ILS1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0010972789"/>
          <ticker value="AMOT"/>
          <other otherDesc="SEDOL" value="B18MCB9"/>
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        <balance>253973.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Nyfosa AB</name>
        <lei>5493000YR2B83SILCJ50</lei>
        <title>Nyfosa AB SER'A'NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0011426428"/>
          <ticker value="NYF"/>
          <other otherDesc="SEDOL" value="BFD2NK8"/>
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        <balance>167855.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GOODMAN (NZ) LTD</name>
        <lei>N/A</lei>
        <title>Goodman Property Trust NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NZCPTE0001S9"/>
          <ticker value="GMT"/>
          <other otherDesc="SEDOL" value="6299192"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NZ</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AEON REIT Investment Corporation</name>
        <lei>353800P59F8MJB4FE788</lei>
        <title>AEON REIT Investment Corporation REIT</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3047650001"/>
          <ticker value="3292"/>
          <other otherDesc="SEDOL" value="BFSSCF9"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Torunlar Gyo</name>
        <lei>789000AZI3NB7PA5A670</lei>
        <title>Torunlar Gyo TRY1 (C SHARES)</title>
        <cusip>000000000</cusip>
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          <isin value="TRETRGY00018"/>
          <ticker value="TRGYO"/>
          <other otherDesc="SEDOL" value="B4WW142"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GPT MANAGEMENT HOLDINGS LTD</name>
        <lei>N/A</lei>
        <title>GPT Group (The) NPV (STAPLED SECURITIES)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000GPT8"/>
          <ticker value="GPT"/>
          <other otherDesc="SEDOL" value="6365866"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Cathay Real Estate</name>
        <lei>N/A</lei>
        <title>Cathay Real Estate TWD10</title>
        <cusip>000000000</cusip>
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          <isin value="TW0002501004"/>
          <ticker value="2501"/>
          <other otherDesc="SEDOL" value="6179733"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Aura Investments Ltd.</name>
        <lei>N/A</lei>
        <title>Aura Investments Ltd. ILS1</title>
        <cusip>000000000</cusip>
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          <isin value="IL0003730194"/>
          <ticker value="AURA"/>
          <other otherDesc="SEDOL" value="6060310"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CTP NV</name>
        <lei>3157000YTVO4TN65UM14</lei>
        <title>CTP NV EUR0.16</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL00150006R6"/>
          <ticker value="CTPNV"/>
          <other otherDesc="SEDOL" value="BLF7T27"/>
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        <balance>132544.00000000</balance>
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        <valUSD>2813777.03000000</valUSD>
        <pctVal>0.259828212264</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Sagax AB</name>
        <lei>549300LJX28T6OM8DT95</lei>
        <title>Sagax AB SER'D'NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SE0009161052"/>
          <ticker value="SAGAD"/>
          <other otherDesc="SEDOL" value="BDQZF59"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Yuexiu Property Co Ltd</name>
        <lei>529900GASK6R1FD08W10</lei>
        <title>Yuexiu Property Co Ltd NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="HK0000745908"/>
          <ticker value="123"/>
          <other otherDesc="SEDOL" value="BNR5PB4"/>
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        <balance>1508477.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Daito Trust Construction Co Ltd.</name>
        <lei>353800QQ4DRI3KXS3038</lei>
        <title>Daito Trust Construction Co Ltd. NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3486800000"/>
          <ticker value="1878"/>
          <other otherDesc="SEDOL" value="6250508"/>
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        <balance>332552.00000000</balance>
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        <pctVal>0.708086376790</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Japan Real Estate Investment Corp.</name>
        <lei>3538003YAIR3CBGJJ928</lei>
        <title>Japan Real Estate Investment Corp. REIT</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3027680002"/>
          <ticker value="8952"/>
          <other otherDesc="SEDOL" value="6397580"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>H&amp;R Real Estate Investment Trust</name>
        <lei>549300TGNP6B6GUVGW10</lei>
        <title>H&amp;R Real Estate Investment Trust UNITS</title>
        <cusip>403925407</cusip>
        <identifiers>
          <isin value="CA4039254079"/>
          <ticker value="HR-U"/>
          <other otherDesc="SEDOL" value="BGM8DW6"/>
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        <balance>273671.00000000</balance>
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        <currencyConditional curCd="CAD" exchangeRt="1.36385000"/>
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        <pctVal>0.193260502699</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HealthCo Healthcare And Wellness REIT</name>
        <lei>N/A</lei>
        <title>HealthCo Healthcare And Wellness REIT NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU0000169302"/>
          <ticker value="HCW"/>
          <other otherDesc="SEDOL" value="BNHNN03"/>
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        <balance>431626.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.40321300"/>
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        <pctVal>0.020450932685</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fortress Real Estate Investment Ltd .</name>
        <lei>378900FE98E30F24D975</lei>
        <title>Fortress Real Estate Investment Ltd . B SHS NPV</title>
        <cusip>000000000</cusip>
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          <isin value="ZAE000248506"/>
          <ticker value="FFB"/>
          <other otherDesc="SEDOL" value="BD9FS68"/>
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        <balance>923869.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Reit 1 Ltd</name>
        <lei>N/A</lei>
        <title>Reit 1 Ltd ILS1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0010989205"/>
          <ticker value="RIT1"/>
          <other otherDesc="SEDOL" value="B1NYV46"/>
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        <balance>201048.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="3.13535000"/>
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        <pctVal>0.138556278821</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Good Com Asset Co Ltd</name>
        <lei>N/A</lei>
        <title>Good Com Asset Co Ltd NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3273750004"/>
          <ticker value="3475"/>
          <other otherDesc="SEDOL" value="BZCD4J8"/>
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        <balance>14836.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="156.12500000"/>
        <valUSD>147956.14000000</valUSD>
        <pctVal>0.013662482471</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>C&amp;D INTERNATIONAL INVESTMENT GROUP LTD</name>
        <lei>N/A</lei>
        <title>C&amp;D International Investment Group Ltd. HKD0.1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG3165D1097"/>
          <ticker value="1908"/>
          <other otherDesc="SEDOL" value="BZBY9R5"/>
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        <balance>1001749.00000000</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.82215000"/>
        <valUSD>1936353.16000000</valUSD>
        <pctVal>0.178805631900</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Cofinimmo S.A./N.V.</name>
        <lei>549300TM914CSF6KI389</lei>
        <title>Cofinimmo S.A./N.V. NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BE0003593044"/>
          <ticker value="COFB"/>
          <other otherDesc="SEDOL" value="4177988"/>
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        <balance>39371.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.84695450"/>
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        <pctVal>0.397917212022</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Corporacion Inmobiliaria Vesta S A B De C V</name>
        <lei>4469000001BIRIFZJ959</lei>
        <title>Corporacion Inmobiliaria Vesta S A B De C V COM NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="MX01VE0M0003"/>
          <ticker value="VESTA*"/>
          <other otherDesc="SEDOL" value="B8F6ZF8"/>
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        <balance>896390.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Arena REIT</name>
        <lei>984500FEAC9A1C1FC967</lei>
        <title>Arena REIT STAPLED UNITS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000ARF6"/>
          <ticker value="ARF"/>
          <other otherDesc="SEDOL" value="B99K263"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CapitaLand Ascendas REIT</name>
        <lei>549300ILIBAEMQZK3L20</lei>
        <title>CapitaLand Ascendas REIT NPV(REAL ESTATE INVESTMENT TRUSTS)</title>
        <cusip>000000000</cusip>
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          <isin value="SG1M77906915"/>
          <ticker value="CLAR"/>
          <other otherDesc="SEDOL" value="6563875"/>
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        <assetCat>EC</assetCat>
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        <invCountry>SG</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Areit Inc</name>
        <lei>N/A</lei>
        <title>Areit Inc PHP10</title>
        <cusip>000000000</cusip>
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          <isin value="PHY1001D1010"/>
          <ticker value="AREIT"/>
          <other otherDesc="SEDOL" value="BMW2NN1"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>PH</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>KSL Hldgs Berhad</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
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          <isin value="MYL5038OO004"/>
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        <assetCat>EC</assetCat>
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        <invCountry>MY</invCountry>
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      <invstOrSec>
        <name>Japan Hotel REIT Investment Corporation</name>
        <lei>353800L8KG849FP1JI68</lei>
        <title>Japan Hotel REIT Investment Corporation REIT</title>
        <cusip>000000000</cusip>
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          <isin value="JP3046400002"/>
          <ticker value="8985"/>
          <other otherDesc="SEDOL" value="B1530B1"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Lendlease Global Commercial REIT</name>
        <lei>N/A</lei>
        <title>Lendlease Global Commercial REIT NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SGXC61949712"/>
          <ticker value="LREIT"/>
          <other otherDesc="SEDOL" value="BKBPXB5"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
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      <invstOrSec>
        <name>RioCan Real Estate Investment Trust</name>
        <lei>549300S8HVUSEU3JBY60</lei>
        <title>RioCan Real Estate Investment Trust UNIT</title>
        <cusip>766910103</cusip>
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          <isin value="CA7669101031"/>
          <ticker value="REI-U"/>
          <other otherDesc="SEDOL" value="2229610"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Tanco Holdings Berhad</name>
        <lei>N/A</lei>
        <title>Tanco Holdings Berhad MYR0.05</title>
        <cusip>000000000</cusip>
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          <isin value="MYL2429OO008"/>
          <ticker value="TANC"/>
          <other otherDesc="SEDOL" value="6472818"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Carmila SAS</name>
        <lei>222100P6D3QKU33LZQ72</lei>
        <title>Carmila SAS EUR6</title>
        <cusip>000000000</cusip>
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          <isin value="FR0010828137"/>
          <ticker value="CARM"/>
          <other otherDesc="SEDOL" value="B4Y0230"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Akis Gayrimenkul Yatririm Ortakligi As</name>
        <lei>789000E8HRSI0VGVLY65</lei>
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        <name>Sumitomo Realty &amp; Development Co Ltd.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Link Real Estate Investment Trust</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Daiwa House REIT Investment Corp.</name>
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          <isin value="JP3046390005"/>
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        <fairValLevel>1</fairValLevel>
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        <name>New World Development Co Ltd.</name>
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          <isin value="HK0000608585"/>
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        <fairValLevel>1</fairValLevel>
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        <name>Centuria Capital Group</name>
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          <isin value="AU000000CNI5"/>
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        <fairValLevel>1</fairValLevel>
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        <name>Charter Hall Group</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Rural Funds Group</name>
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          <isin value="AU000000RFF5"/>
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        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>PSP Swiss Property AG</name>
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        <fairValLevel>1</fairValLevel>
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        <name>LEG Immobilien SE</name>
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        <name>EUREX DEUTSCHLAND</name>
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        <title>STOXX Europe 600 Real Estate Futures(FSTL) Index Fut</title>
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        <name>SRE Holdings Corp</name>
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        <name>Granite Real Estate Investment Trust</name>
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        <name>FIDEICOMISO IRREVOCABLE 1721 BANCO ACTINVER SA</name>
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        <title>Banco Actinver SA CBFI (PROLOGIS PROPERTY MEXICO SA DE CV)</title>
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        <name>Mitsui Fudosan Logistics Park Inc</name>
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        <name>One REIT Inc.</name>
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        <name>Vukile Property Fund Limited</name>
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        <name>Hoosiers Holdings Co Ltd.</name>
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        <name>Alony Hetz Properties &amp; Investments Ltd.</name>
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        <invCountry>IL</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Dexus Industria REIT</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Kuyas Yatirim Anonim Sirketi</name>
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        <assetCat>EC</assetCat>
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        <invCountry>TR</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Mapletree Pan Asia Commercial Trust</name>
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        <title>Mapletree Pan Asia Commercial Trust NPV(REAL ESTATE INVESTMENT TRUSTS)REG S</title>
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          <ticker value="MPACT"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>China Jinmao Holdings Group Ltd.</name>
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        <title>China Jinmao Holdings Group Ltd. NPV</title>
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          <isin value="HK0817039453"/>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Kojamo Oyj</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Multiplan Empreendimentos Imobiliarios SA</name>
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        <name>ORIX JREIT Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>National Storage REIT</name>
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        <assetCat>EC</assetCat>
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        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Fortune Real Estate Investment Trust</name>
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        <cusip>000000000</cusip>
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          <isin value="SG1O33912138"/>
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        <assetCat>EC</assetCat>
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        <invCountry>HK</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Chartwell Retirement Residences</name>
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        <name>Allied Properties REIT</name>
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        <name>Tokyu Fudosan Holdings Corp.</name>
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        <name>Big Yellow Group PLC</name>
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        <name>Abacus Storage King</name>
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        <name>THE MONTREAL EXCHANGE / BOURSE DE MONTREAL</name>
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        <name>Blue Square Real Estate Ltd.</name>
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        <name>Icade SA</name>
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        <name>ES-CON Japan Ltd</name>
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        <name>British Land Company PLC</name>
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        <invCountry>GB</invCountry>
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      <invstOrSec>
        <name>Dear Life CoLtd</name>
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        <title>Dear Life CoLtd NPV</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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      <invstOrSec>
        <name>Industrial &amp; Infrastructure Fund Investment Corp.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Tokyu REIT Inc.</name>
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          <ticker value="8957"/>
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        <name>Charter Hall Long WALE REIT</name>
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        <name>Eurocommercial Properties N.V</name>
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        <name>CHICAGO MERCANTILE EXCHANGE INC.</name>
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        <name>Capitaland Investment Ltd.</name>
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        <name>Frontier Real Estate Investment Corporation</name>
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        <assetCat>EC</assetCat>
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        <name>Shenzhen Investment Ltd.</name>
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        <invCountry>HK</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Sagax AB</name>
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        <assetCat>EC</assetCat>
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        <name>Unibail-Rodamco-Westfield SE</name>
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        <name>Kasumigaseki Capital Co Ltd</name>
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        <name>Cyrela Brazil Realty S.A. Empreendimentos E Participacoes</name>
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        <name>Colonial SFL Socimi SA</name>
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        <name>EURONEXT PARIS MONEP</name>
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        <name>Mercialys S.A.</name>
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        <name>CDL Hospitality Trusts</name>
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        <name>Shanghai Industrial Holdings Ltd</name>
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        <title>Shanghai Industrial Holdings Ltd NPV</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Leopalace21 Corp</name>
        <lei>529900Z3BHJUW1DY6254</lei>
        <title>Leopalace21 Corp NPV</title>
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          <isin value="JP3167500002"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Mapletree Industrial Trust</name>
        <lei>549300R7WZFHXNKDJF41</lei>
        <title>Mapletree Industrial Trust NPV (REIT)</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Heiwa Real Estate Reit Inc</name>
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        <title>Heiwa Real Estate Reit Inc REIT</title>
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          <isin value="JP3046220004"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Grainger PLC</name>
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        <title>Grainger PLC ORD GBP0.05</title>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Centurion Accommodation REIT</name>
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        <title>Centurion Accommodation REIT NPV</title>
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          <isin value="SGXC43938841"/>
          <ticker value="CAREIT"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Mapletree Logistic Trust Management Ltd.</name>
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        <title>Mapletree Logistic Trust Management Ltd. NPV (REIT)</title>
        <cusip>000000000</cusip>
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          <isin value="SG1S03926213"/>
          <ticker value="MLT"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Mivne Real Estate (K.D) Ltd</name>
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          <isin value="IL0002260193"/>
          <ticker value="MVNE"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IL</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Wharf (Holdings) Ltd. The</name>
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        <title>Wharf (Holdings) Ltd. The NPV</title>
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          <isin value="HK0004000045"/>
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        <assetCat>EC</assetCat>
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        <invCountry>HK</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Plaza SA</name>
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        <title>Plaza SA NPV</title>
        <cusip>000000000</cusip>
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          <isin value="CL0002456714"/>
          <ticker value="MALLPLA"/>
          <other otherDesc="SEDOL" value="BYVW0G8"/>
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        <assetCat>EC</assetCat>
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        <invCountry>CL</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>LAMDA Development SA</name>
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        <title>LAMDA Development SA EUR0.3</title>
        <cusip>000000000</cusip>
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          <isin value="GRS245213004"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GR</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>KDX Realty Investment Corporation</name>
        <lei>353800FFT483NCIHFY42</lei>
        <title>KDX Realty Investment Corporation REIT</title>
        <cusip>000000000</cusip>
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          <isin value="JP3046270009"/>
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        <fairValLevel>1</fairValLevel>
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        <name>Mirai Corporation</name>
        <lei>353800HQCYM7P10R9D93</lei>
        <title>Mirai Corporation REIT</title>
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          <ticker value="3476"/>
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        <name>PT Summarecon Agung Tbk</name>
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        <title>PT Summarecon Agung Tbk IDR100</title>
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          <ticker value="SMRA"/>
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        <invCountry>ID</invCountry>
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        <name>Charter Hall Social Infrastructure REIT</name>
        <lei>254900W31UGIMDQW3W98</lei>
        <title>Charter Hall Social Infrastructure REIT NPV</title>
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        <name>Seobu T&amp;D Co Ltd</name>
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        <name>Invincible Investment Corporation</name>
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        <title>Invincible Investment Corporation REIT</title>
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      <invstOrSec>
        <name>Ichigo Inc.</name>
        <lei>N/A</lei>
        <title>Ichigo Inc. NPV</title>
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        <name>Cedar Woods Properties Ltd.</name>
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        <name>Tokyo Tatemono Co Ltd.</name>
        <lei>529900RQA4JTW1869J86</lei>
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        <name>Sentul City Tbk</name>
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        <title>Sentul City Tbk LKD SHS(IDR2000 &amp; IDR400)</title>
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        <invCountry>ID</invCountry>
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      <invstOrSec>
        <name>Mori Hills REIT Investment Corp</name>
        <lei>N/A</lei>
        <title>Mori Hills REIT Investment Corp REIT</title>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Equites Property Fund Limited</name>
        <lei>378900F47D60FBC7C419</lei>
        <title>Equites Property Fund Limited NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="ZAE000188843"/>
          <ticker value="EQU"/>
          <other otherDesc="SEDOL" value="BN898F0"/>
        </identifiers>
        <balance>667366.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="15.91750000"/>
        <valUSD>804151.40000000</valUSD>
        <pctVal>0.074256495246</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Activia Properties Inc</name>
        <lei>353800RPGYN3ML8CXV54</lei>
        <title>Activia Properties Inc REIT</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3047490002"/>
          <ticker value="3279"/>
          <other otherDesc="SEDOL" value="B8BSRY1"/>
        </identifiers>
        <balance>2121.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="156.12500000"/>
        <valUSD>2029639.07000000</valUSD>
        <pctVal>0.187419786812</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cpi Europe AG</name>
        <lei>5299000DUMZ99SBBX121</lei>
        <title>Cpi Europe AG NPV (POST SPLIT)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AT0000A21KS2"/>
          <ticker value="CPI"/>
          <other otherDesc="SEDOL" value="BFZ5BQ7"/>
        </identifiers>
        <balance>36338.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84695450"/>
        <valUSD>689472.29000000</valUSD>
        <pctVal>0.063666861519</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="273944.65700342"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fastighets AB Balder</name>
        <lei>549300GHKJCEZOAEUU82</lei>
        <title>Fastighets AB Balder SER'B'NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0017832488"/>
          <ticker value="BALDB"/>
          <other otherDesc="SEDOL" value="BPMRNZ9"/>
        </identifiers>
        <balance>715333.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.02260000"/>
        <valUSD>5384857.73000000</valUSD>
        <pctVal>0.497245496842</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Rightmove PLC</name>
        <lei>2138001JXGCFKBXYB828</lei>
        <title>Rightmove PLC ORD GBP0.001</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BGDT3G23"/>
          <ticker value="RMV"/>
          <other otherDesc="SEDOL" value="BGDT3G2"/>
        </identifiers>
        <balance>788724.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74379800"/>
        <valUSD>4744233.22000000</valUSD>
        <pctVal>0.438089309485</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CT Real Estate Investment Trust</name>
        <lei>549300QXEHJXT6D53X16</lei>
        <title>CT Real Estate Investment Trust UNITS</title>
        <cusip>126462100</cusip>
        <identifiers>
          <isin value="CA1264621006"/>
          <ticker value="CRT-U"/>
          <other otherDesc="SEDOL" value="BFSRSC5"/>
        </identifiers>
        <balance>81010.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.36385000"/>
        <valUSD>1021646.08000000</valUSD>
        <pctVal>0.094340266376</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1008908.60431872"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Choice Properties Real Estate Investment Trust</name>
        <lei>5493007MYGFSLOZGT937</lei>
        <title>Choice Properties Real Estate Investment Trust TRUST UNITS</title>
        <cusip>17039A106</cusip>
        <identifiers>
          <isin value="CA17039A1066"/>
          <ticker value="CHP-U"/>
          <other otherDesc="SEDOL" value="BBX46Q3"/>
        </identifiers>
        <balance>253034.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.36385000"/>
        <valUSD>2942493.12000000</valUSD>
        <pctVal>0.271714040885</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="279092.27554351"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Star Asia Investoment Corporation</name>
        <lei>N/A</lei>
        <title>Star Asia Investoment Corporation REIT</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3048200004"/>
          <ticker value="3468"/>
          <other otherDesc="SEDOL" value="BYYJ8J5"/>
        </identifiers>
        <balance>2764.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="156.12500000"/>
        <valUSD>1076388.79000000</valUSD>
        <pctVal>0.099395286842</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-04-29</ncom:dateSigned>
      <ncom:nameOfApplicant>DBX ETF Trust</ncom:nameOfApplicant>
      <ncom:signature>Diane Kenneally</ncom:signature>
      <ncom:signerName>Diane Kenneally</ncom:signerName>
      <ncom:title>Treasurer and Chief Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
