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          <ccc>XXXXXXXX</ccc>
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      <regCik>0001540305</regCik>
      <regLei>5493008BB0X0GYS3UI50</regLei>
      <regStreet1>615 E Michigan Street</regStreet1>
      <regCity>Milwaukee</regCity>
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      <regZipOrPostalCode>53202</regZipOrPostalCode>
      <regPhone>414-765-6076</regPhone>
      <seriesName>Vident International Equity Fund</seriesName>
      <seriesId>S000042078</seriesId>
      <seriesLei>5493004M2YRI1LYU4Y95</seriesLei>
      <repPdEnd>2020-08-31</repPdEnd>
      <repPdDate>2019-11-30</repPdDate>
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        <name>Samsung Fire &amp; Marine Insuranc</name>
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        <name>Wm Morrison Supermarkets PLC</name>
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        <name>Cia Paranaense de Energia</name>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Empire Co Ltd</name>
        <lei>549300TX0ZUSTEF7C719</lei>
        <title>Empire Co Ltd</title>
        <cusip>291843407</cusip>
        <identifiers>
          <isin value="CA2918434077"/>
          <ticker value="EMP/A"/>
        </identifiers>
        <balance>117432.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.328300000000"/>
        <valUSD>3144781.660000000000</valUSD>
        <pctVal>0.5076072496</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>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Manulife Financial Corp</name>
        <lei>5493007GBX87QOZACS27</lei>
        <title>Manulife Financial Corp</title>
        <cusip>56501R106</cusip>
        <identifiers>
          <isin value="CA56501R1064"/>
          <ticker value="MFC"/>
        </identifiers>
        <balance>163786.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.328300000000"/>
        <valUSD>3222080.320000000000</valUSD>
        <pctVal>0.5200842240</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>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Magna International Inc</name>
        <lei>95RWVLFZX6VGDZNNTN43</lei>
        <title>Magna International Inc</title>
        <cusip>559222401</cusip>
        <identifiers>
          <isin value="CA5592224011"/>
          <ticker value="MG"/>
        </identifiers>
        <balance>61363.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.328300000000"/>
        <valUSD>3380797.550000000000</valUSD>
        <pctVal>0.5457031780</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>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sugi Holdings Co Ltd</name>
        <lei>529900N86BFWB1FADG87</lei>
        <title>Sugi Holdings Co Ltd</title>
        <cusip>J7687M106</cusip>
        <identifiers>
          <isin value="JP3397060009"/>
          <ticker value="7649"/>
        </identifiers>
        <balance>63500.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="109.420000000000"/>
        <valUSD>3566112.680000000000</valUSD>
        <pctVal>0.5756153670</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Unicom Hong Kong Ltd</name>
        <lei>5299006RQXYNFYPOUS20</lei>
        <title>China Unicom Hong Kong Ltd</title>
        <cusip>Y1519S111</cusip>
        <identifiers>
          <isin value="HK0000049939"/>
          <ticker value="762"/>
        </identifiers>
        <balance>2970000.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.828200000000"/>
        <valUSD>2542109.800000000000</valUSD>
        <pctVal>0.4103284436</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sun Life Financial Inc</name>
        <lei>549300V040JZX5S66Z78</lei>
        <title>Sun Life Financial Inc</title>
        <cusip>866796105</cusip>
        <identifiers>
          <isin value="CA8667961053"/>
          <ticker value="SLF"/>
        </identifiers>
        <balance>72134.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.328300000000"/>
        <valUSD>3291580.460000000000</valUSD>
        <pctVal>0.5313024193</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>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Grupo Mexico SAB de CV</name>
        <lei>529900JWLZAYET2ZGW20</lei>
        <title>Grupo Mexico SAB de CV</title>
        <cusip>P49538112</cusip>
        <identifiers>
          <isin value="MXP370841019"/>
          <ticker value="GMEXICOB"/>
        </identifiers>
        <balance>1314961.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="19.572500000000"/>
        <valUSD>3457035.200000000000</valUSD>
        <pctVal>0.5580088920</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Onex Corp</name>
        <lei>894500LB8PNE5C7CEN88</lei>
        <title>Onex Corp</title>
        <cusip>68272K103</cusip>
        <identifiers>
          <isin value="CA68272K1030"/>
          <ticker value="ONEX"/>
        </identifiers>
        <balance>47782.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.328300000000"/>
        <valUSD>2845515.680000000000</valUSD>
        <pctVal>0.4593019625</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>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>America Movil SAB de CV</name>
        <lei>5493000FNR3UCEAONM59</lei>
        <title>America Movil SAB de CV</title>
        <cusip>P0280A101</cusip>
        <identifiers>
          <isin value="MXP001691213"/>
          <ticker value="AMXL"/>
        </identifiers>
        <balance>4172532.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="19.572500000000"/>
        <valUSD>3210874.130000000000</valUSD>
        <pctVal>0.5182754042</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Power Corp of Canada</name>
        <lei>549300BE2CB8T87IJV50</lei>
        <title>Power Corp of Canada</title>
        <cusip>739239101</cusip>
        <identifiers>
          <isin value="CA7392391016"/>
          <ticker value="POW"/>
        </identifiers>
        <balance>141725.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.328300000000"/>
        <valUSD>3440025.600000000000</valUSD>
        <pctVal>0.5552633290</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>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Power Financial Corp</name>
        <lei>549300RD0SS3HPUKXF62</lei>
        <title>Power Financial Corp</title>
        <cusip>73927C100</cusip>
        <identifiers>
          <isin value="CA73927C1005"/>
          <ticker value="PWF"/>
        </identifiers>
        <balance>71883.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.328300000000"/>
        <valUSD>1757771.380000000000</valUSD>
        <pctVal>0.2837263735</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>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Teck Resources Ltd</name>
        <lei>T8KI5SQ2JRWHL7XY0E11</lei>
        <title>Teck Resources Ltd</title>
        <cusip>878742204</cusip>
        <identifiers>
          <isin value="CA8787422044"/>
          <ticker value="TECK/B"/>
        </identifiers>
        <balance>61666.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.328300000000"/>
        <valUSD>965671.220000000000</valUSD>
        <pctVal>0.1558714611</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>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>First American Government Obli</name>
        <lei>549300R5MYM6VZF1RM44</lei>
        <title>First American Government Obligations Fund</title>
        <cusip>31846V336</cusip>
        <identifiers>
          <isin value="US31846V3362"/>
          <ticker value="FGXXX"/>
        </identifiers>
        <balance>1221748.030000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1221748.030000000000</valUSD>
        <pctVal>0.1972054738</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA TAIPING</name>
        <lei>529900C2G37NOIADYW07</lei>
        <title>China Taiping Insurance Holdings Co Ltd</title>
        <cusip>Y1456Z151</cusip>
        <identifiers>
          <isin value="HK0000055878"/>
          <ticker value="966"/>
        </identifiers>
        <balance>1102800.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.828200000000"/>
        <valUSD>2549989.460000000000</valUSD>
        <pctVal>0.4116003196</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nanya Technology Corp</name>
        <lei>254900STKVKJBRRO0835</lei>
        <title>Nanya Technology Corp</title>
        <cusip>Y62066108</cusip>
        <identifiers>
          <isin value="TW0002408002"/>
          <ticker value="2408"/>
        </identifiers>
        <balance>1310000.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="30.510500000000"/>
        <valUSD>3057045.940000000000</valUSD>
        <pctVal>0.4934456027</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LG Uplus Corp</name>
        <lei>N/A</lei>
        <title>LG Uplus Corp</title>
        <cusip>Y5276R125</cusip>
        <identifiers>
          <isin value="KR7032640005"/>
          <ticker value="032640"/>
        </identifiers>
        <balance>269359.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1181.150000000000"/>
        <valUSD>3055844.390000000000</valUSD>
        <pctVal>0.4932516575</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Singapore Exchange Ltd</name>
        <lei>549300IQ650PPXM76X03</lei>
        <title>Singapore Exchange Ltd</title>
        <cusip>Y79946102</cusip>
        <identifiers>
          <isin value="SG1J26887955"/>
          <ticker value="SGX"/>
        </identifiers>
        <balance>520200.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.367600000000"/>
        <valUSD>3366682.510000000000</valUSD>
        <pctVal>0.5434248333</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kingfisher PLC</name>
        <lei>213800KBMEV7I92FY281</lei>
        <title>Kingfisher PLC</title>
        <cusip>G5256E441</cusip>
        <identifiers>
          <isin value="GB0033195214"/>
          <ticker value="KGF"/>
        </identifiers>
        <balance>1099186.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".773220000000"/>
        <valUSD>2984337.620000000000</valUSD>
        <pctVal>0.4817095669</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>Assicurazioni Generali SpA</name>
        <lei>549300X5UKJVE386ZB61</lei>
        <title>Assicurazioni Generali SpA</title>
        <cusip>T05040109</cusip>
        <identifiers>
          <isin value="IT0000062072"/>
          <ticker value="G"/>
        </identifiers>
        <balance>161552.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".907610000000"/>
        <valUSD>3300687.540000000000</valUSD>
        <pctVal>0.5327724164</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CapitaLand Ltd</name>
        <lei>2549006LYGY45GHGWZ89</lei>
        <title>CapitaLand Ltd</title>
        <cusip>Y10923103</cusip>
        <identifiers>
          <isin value="SG1J27887962"/>
          <ticker value="CAPL"/>
        </identifiers>
        <balance>1143900.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.367600000000"/>
        <valUSD>3078395.550000000000</valUSD>
        <pctVal>0.4968916979</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tower Semiconductor Ltd</name>
        <lei>54930086ZSNXZOUX0C54</lei>
        <title>Tower Semiconductor Ltd</title>
        <cusip>M87915274</cusip>
        <identifiers>
          <isin value="IL0010823792"/>
          <ticker value="TSEM"/>
        </identifiers>
        <balance>51166.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="3.474400000000"/>
        <valUSD>1138005.210000000000</valUSD>
        <pctVal>0.1836883311</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sino-American Silicon Products</name>
        <lei>529900DMZ4STK7NEXO95</lei>
        <title>Sino-American Silicon Products Inc</title>
        <cusip>Y8022X107</cusip>
        <identifiers>
          <isin value="TW0005483002"/>
          <ticker value="5483"/>
        </identifiers>
        <balance>1090000.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="30.510500000000"/>
        <valUSD>3100965.240000000000</valUSD>
        <pctVal>0.5005347292</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kunlun Energy Co Ltd</name>
        <lei>5299007GRIKP15GM4927</lei>
        <title>Kunlun Energy Co Ltd</title>
        <cusip>G5320C108</cusip>
        <identifiers>
          <isin value="BMG5320C1082"/>
          <ticker value="135"/>
        </identifiers>
        <balance>3306000.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.828200000000"/>
        <valUSD>2800137.970000000000</valUSD>
        <pctVal>0.4519774303</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DNB ASA</name>
        <lei>5967007LIEEXZX78M803</lei>
        <title>DNB ASA</title>
        <cusip>R1640U124</cusip>
        <identifiers>
          <isin value="NO0010031479"/>
          <ticker value="DNB"/>
        </identifiers>
        <balance>166483.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="9.220800000000"/>
        <valUSD>2798337.430000000000</valUSD>
        <pctVal>0.4516868005</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hannover Rueck SE</name>
        <lei>529900KIN5BE45V5KB18</lei>
        <title>Hannover Rueck SE</title>
        <cusip>D3015J135</cusip>
        <identifiers>
          <isin value="DE0008402215"/>
          <ticker value="HNR1"/>
        </identifiers>
        <balance>19319.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".907610000000"/>
        <valUSD>3589229.280000000000</valUSD>
        <pctVal>0.5793466765</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Krung Thai Bank PCL</name>
        <lei>54930007ZQMYCRFQGE36</lei>
        <title>Krung Thai Bank PCL</title>
        <cusip>Y49885174</cusip>
        <identifiers>
          <isin value="TH0150010R11"/>
          <ticker value="KTB-R"/>
        </identifiers>
        <balance>4737600.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="30.217500000000"/>
        <valUSD>2571246.460000000000</valUSD>
        <pctVal>0.4150314664</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ratch Group PCL</name>
        <lei>2138004IGHN9UQGDSH20</lei>
        <title>Ratch Group PCL</title>
        <cusip>Y7198P120</cusip>
        <identifiers>
          <isin value="TH0637010R17"/>
          <ticker value="RATCH-R"/>
        </identifiers>
        <balance>273100.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="30.217500000000"/>
        <valUSD>639425.000000000000</valUSD>
        <pctVal>0.1032112244</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Siam Commercial Bank PCL/The</name>
        <lei>54930068OELHUBHH1U03</lei>
        <title>Siam Commercial Bank PCL/The</title>
        <cusip>Y7905M121</cusip>
        <identifiers>
          <isin value="TH0015010R16"/>
          <ticker value="SCB-R"/>
        </identifiers>
        <balance>666300.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="30.217500000000"/>
        <valUSD>2668066.520000000000</valUSD>
        <pctVal>0.4306594398</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>True Corp PCL</name>
        <lei>529900XJSWQEQFFF7B09</lei>
        <title>True Corp PCL</title>
        <cusip>Y3187S126</cusip>
        <identifiers>
          <isin value="TH0375010R14"/>
          <ticker value="TRUE-R"/>
        </identifiers>
        <balance>14729600.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="30.217500000000"/>
        <valUSD>2164289.700000000000</valUSD>
        <pctVal>0.3493435350</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kasikornbank PCL</name>
        <lei>5493004COSQ54937AW41</lei>
        <title>Kasikornbank PCL</title>
        <cusip>Y4591R126</cusip>
        <identifiers>
          <isin value="TH0016010R14"/>
          <ticker value="KBANK-R"/>
        </identifiers>
        <balance>336900.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="30.217500000000"/>
        <valUSD>1728121.120000000000</valUSD>
        <pctVal>0.2789404492</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bangkok Bank PCL</name>
        <lei>549300CCL2BKJGMYXV60</lei>
        <title>Bangkok Bank PCL</title>
        <cusip>Y06070109</cusip>
        <identifiers>
          <isin value="TH0001010R16"/>
          <ticker value="BBL-R"/>
        </identifiers>
        <balance>473400.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="30.217500000000"/>
        <valUSD>2765122.860000000000</valUSD>
        <pctVal>0.4463255519</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OZ Minerals Ltd</name>
        <lei>529900O2VBT5CL7EZT27</lei>
        <title>OZ Minerals Ltd</title>
        <cusip>Q7161P122</cusip>
        <identifiers>
          <isin value="AU000000OZL8"/>
          <ticker value="OZL"/>
        </identifiers>
        <balance>283582.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.478420000000"/>
        <valUSD>2023640.170000000000</valUSD>
        <pctVal>0.3266409347</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Haseko Corp</name>
        <lei>529900EH7TSG348O4045</lei>
        <title>Haseko Corp</title>
        <cusip>J18984153</cusip>
        <identifiers>
          <isin value="JP3768600003"/>
          <ticker value="1808"/>
        </identifiers>
        <balance>274700.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="109.420000000000"/>
        <valUSD>3531892.980000000000</valUSD>
        <pctVal>0.5700918777</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>International Consolidated Air</name>
        <lei>959800TZHQRUSH1ESL13</lei>
        <title>International Consolidated Airlines Group SA</title>
        <cusip>459348108</cusip>
        <identifiers>
          <isin value="US4593481082"/>
          <ticker value="ICAGY"/>
        </identifiers>
        <balance>8131.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>116452.180000000000</valUSD>
        <pctVal>0.0187968442</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>Continental AG</name>
        <lei>529900A7YD9C0LLXM621</lei>
        <title>Continental AG</title>
        <cusip>D16212140</cusip>
        <identifiers>
          <isin value="DE0005439004"/>
          <ticker value="CON"/>
        </identifiers>
        <balance>3061.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".907610000000"/>
        <valUSD>400280.720000000000</valUSD>
        <pctVal>0.0646103346</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Leroy Seafood Group ASA</name>
        <lei>5967007LIEEXZXJ2JK50</lei>
        <title>Leroy Seafood Group ASA</title>
        <cusip>R4279D108</cusip>
        <identifiers>
          <isin value="NO0003096208"/>
          <ticker value="LSG"/>
        </identifiers>
        <balance>29018.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="9.220800000000"/>
        <valUSD>183694.120000000000</valUSD>
        <pctVal>0.0296505377</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Telenor ASA</name>
        <lei>549300IM1QSBY4SLPM26</lei>
        <title>Telenor ASA</title>
        <cusip>R21882106</cusip>
        <identifiers>
          <isin value="NO0010063308"/>
          <ticker value="TEL"/>
        </identifiers>
        <balance>149741.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="9.220800000000"/>
        <valUSD>2734802.400000000000</valUSD>
        <pctVal>0.4414314489</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Exxaro Resources Ltd</name>
        <lei>378900BC3D9BFF4E4A37</lei>
        <title>Exxaro Resources Ltd</title>
        <cusip>S26949107</cusip>
        <identifiers>
          <isin value="ZAE000084992"/>
          <ticker value="EXX"/>
        </identifiers>
        <balance>159614.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="14.650500000000"/>
        <valUSD>1452353.420000000000</valUSD>
        <pctVal>0.2344280795</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>CapitaLand Mall Trust</name>
        <lei>54930031292WUTXF0L29</lei>
        <title>CapitaLand Mall Trust</title>
        <cusip>Y1100L160</cusip>
        <identifiers>
          <isin value="SG1M51904654"/>
          <ticker value="CT"/>
        </identifiers>
        <balance>1577000.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.367600000000"/>
        <valUSD>2906168.420000000000</valUSD>
        <pctVal>0.4690920764</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PTT PCL</name>
        <lei>549300QOGMPTKB6W7G56</lei>
        <title>PTT PCL</title>
        <cusip>Y6883U121</cusip>
        <identifiers>
          <isin value="TH0646010R18"/>
          <ticker value="PTT-R"/>
        </identifiers>
        <balance>1944070.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="30.217500000000"/>
        <valUSD>2782527.590000000000</valUSD>
        <pctVal>0.4491348938</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hitachi Ltd</name>
        <lei>549300T6IPOCDWLKC615</lei>
        <title>Hitachi Ltd</title>
        <cusip>J20454112</cusip>
        <identifiers>
          <isin value="JP3788600009"/>
          <ticker value="6501"/>
        </identifiers>
        <balance>36600.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="109.420000000000"/>
        <valUSD>1437129.030000000000</valUSD>
        <pctVal>0.2319706718</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>Merck KGaA</name>
        <lei>529900OAREIS0MOPTW25</lei>
        <title>Merck KGaA</title>
        <cusip>D5357W103</cusip>
        <identifiers>
          <isin value="DE0006599905"/>
          <ticker value="MRK"/>
        </identifiers>
        <balance>28388.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".907610000000"/>
        <valUSD>3317854.350000000000</valUSD>
        <pctVal>0.5355433551</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Storebrand ASA</name>
        <lei>5967007LIEEXZX7NA051</lei>
        <title>Storebrand ASA</title>
        <cusip>R85746106</cusip>
        <identifiers>
          <isin value="NO0003053605"/>
          <ticker value="STB"/>
        </identifiers>
        <balance>436725.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="9.220800000000"/>
        <valUSD>3131658.160000000000</valUSD>
        <pctVal>0.5054889519</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hyundai Mobis Co Ltd</name>
        <lei>988400HJA9E0ZVDHRS65</lei>
        <title>Hyundai Mobis Co Ltd</title>
        <cusip>Y3849A109</cusip>
        <identifiers>
          <isin value="KR7012330007"/>
          <ticker value="012330"/>
        </identifiers>
        <balance>15432.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1181.150000000000"/>
        <valUSD>3200982.090000000000</valUSD>
        <pctVal>0.5166787048</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SK Hynix Inc</name>
        <lei>988400XAIK6XISWQV045</lei>
        <title>SK Hynix Inc</title>
        <cusip>Y8085F100</cusip>
        <identifiers>
          <isin value="KR7000660001"/>
          <ticker value="000660"/>
        </identifiers>
        <balance>45641.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1181.150000000000"/>
        <valUSD>3126069.420000000000</valUSD>
        <pctVal>0.5045868591</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>E.ON SE</name>
        <lei>Q9MAIUP40P25UFBFG033</lei>
        <title>E.ON SE</title>
        <cusip>D24914133</cusip>
        <identifiers>
          <isin value="DE000ENAG999"/>
          <ticker value="EOAN"/>
        </identifiers>
        <balance>296728.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".907610000000"/>
        <valUSD>3107472.900000000000</valUSD>
        <pctVal>0.5015851473</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kulicke &amp; Soffa Industries Inc</name>
        <lei>529900H6BEIRBF429744</lei>
        <title>Kulicke and Soffa Industries Inc</title>
        <cusip>501242101</cusip>
        <identifiers>
          <isin value="US5012421013"/>
          <ticker value="KLIC"/>
        </identifiers>
        <balance>83890.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2104800.100000000000</valUSD>
        <pctVal>0.3397411666</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Israel Discount Bank Ltd</name>
        <lei>549300XWZ7BG5G23OF51</lei>
        <title>Israel Discount Bank Ltd</title>
        <cusip>465074201</cusip>
        <identifiers>
          <isin value="IL0006912120"/>
          <ticker value="DSCT"/>
        </identifiers>
        <balance>718140.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="3.474400000000"/>
        <valUSD>3311212.930000000000</valUSD>
        <pctVal>0.5344713465</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kerry Properties Ltd</name>
        <lei>5299006T5ULIIRZ7LK49</lei>
        <title>Kerry Properties Ltd</title>
        <cusip>G52440107</cusip>
        <identifiers>
          <isin value="BMG524401079"/>
          <ticker value="683"/>
        </identifiers>
        <balance>730500.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.828200000000"/>
        <valUSD>2356376.350000000000</valUSD>
        <pctVal>0.3803487324</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kia Motors Corp</name>
        <lei>988400V8MJK9N7OI5X76</lei>
        <title>Kia Motors Corp</title>
        <cusip>Y47601102</cusip>
        <identifiers>
          <isin value="KR7000270009"/>
          <ticker value="000270"/>
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        <balance>84410.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1181.150000000000"/>
        <valUSD>3090828.850000000000</valUSD>
        <pctVal>0.4988985886</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Korea Zinc Co Ltd</name>
        <lei>988400D0HSQUB1I1VO41</lei>
        <title>Korea Zinc Co Ltd</title>
        <cusip>Y4960Y108</cusip>
        <identifiers>
          <isin value="KR7010130003"/>
          <ticker value="010130"/>
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        <balance>7766.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1181.150000000000"/>
        <valUSD>2669428.950000000000</valUSD>
        <pctVal>0.4308793531</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lite-On Technology Corp</name>
        <lei>2549005GU1PQ73SZBT32</lei>
        <title>Lite-On Technology Corp</title>
        <cusip>Y5313K109</cusip>
        <identifiers>
          <isin value="TW0002301009"/>
          <ticker value="2301"/>
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        <balance>2241000.000000000000</balance>
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        <currencyConditional curCd="TWD" exchangeRt="30.510500000000"/>
        <valUSD>3554985.990000000000</valUSD>
        <pctVal>0.5738193795</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Radiant Opto-Electronics Corp</name>
        <lei>N/A</lei>
        <title>Radiant Opto-Electronics Corp</title>
        <cusip>Y7174K103</cusip>
        <identifiers>
          <isin value="TW0006176001"/>
          <ticker value="6176"/>
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        <balance>771000.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="30.510500000000"/>
        <valUSD>2956588.720000000000</valUSD>
        <pctVal>0.4772305459</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HOCHTIEF AG</name>
        <lei>529900Y25S8NZIYTT924</lei>
        <title>HOCHTIEF AG</title>
        <cusip>D33134103</cusip>
        <identifiers>
          <isin value="DE0006070006"/>
          <ticker value="HOT"/>
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        <balance>1378.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".907610000000"/>
        <valUSD>169410.660000000000</valUSD>
        <pctVal>0.0273450079</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Gazprom PJSC</name>
        <lei>213800FD9J2IHTA7YX78</lei>
        <title>Gazprom PJSC</title>
        <cusip>368287207</cusip>
        <identifiers>
          <isin value="US3682872078"/>
          <ticker value="OGZD"/>
        </identifiers>
        <balance>448191.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3560429.300000000000</valUSD>
        <pctVal>0.5746979981</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>RU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LG Electronics Inc</name>
        <lei>988400RMQFTGZIOG0609</lei>
        <title>LG Electronics Inc</title>
        <cusip>Y5275H177</cusip>
        <identifiers>
          <isin value="KR7066570003"/>
          <ticker value="066570"/>
        </identifiers>
        <balance>50796.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1181.150000000000"/>
        <valUSD>3006087.630000000000</valUSD>
        <pctVal>0.4852202916</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Geely Automobile Holdings Ltd</name>
        <lei>549300YS3T1KVQ2SNI84</lei>
        <title>Geely Automobile Holdings Ltd</title>
        <cusip>G3777B103</cusip>
        <identifiers>
          <isin value="KYG3777B1032"/>
          <ticker value="175"/>
        </identifiers>
        <balance>1972000.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.828200000000"/>
        <valUSD>3688170.930000000000</valUSD>
        <pctVal>0.5953171013</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Royal Dutch Shell PLC</name>
        <lei>21380068P1DRHMJ8KU70</lei>
        <title>Royal Dutch Shell PLC</title>
        <cusip>G7690A118</cusip>
        <identifiers>
          <isin value="GB00B03MM408"/>
          <ticker value="RDSB"/>
        </identifiers>
        <balance>52545.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".773220000000"/>
        <valUSD>1488129.320000000000</valUSD>
        <pctVal>0.2402027590</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Allianz SE</name>
        <lei>529900K9B0N5BT694847</lei>
        <title>Allianz SE</title>
        <cusip>D03080112</cusip>
        <identifiers>
          <isin value="DE0008404005"/>
          <ticker value="ALV"/>
        </identifiers>
        <balance>12688.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".907610000000"/>
        <valUSD>3040671.260000000000</valUSD>
        <pctVal>0.4908025237</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Deutsche Lufthansa AG</name>
        <lei>529900PH63HYJ86ASW55</lei>
        <title>Deutsche Lufthansa AG</title>
        <cusip>D1908N106</cusip>
        <identifiers>
          <isin value="DE0008232125"/>
          <ticker value="LHA"/>
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        <balance>179335.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".907610000000"/>
        <valUSD>3404982.300000000000</valUSD>
        <pctVal>0.5496069003</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Munich Re</name>
        <lei>529900MUF4C20K50JS49</lei>
        <title>Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen</title>
        <cusip>D55535104</cusip>
        <identifiers>
          <isin value="DE0008430026"/>
          <ticker value="MUV2"/>
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        <balance>12346.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".907610000000"/>
        <valUSD>3547458.630000000000</valUSD>
        <pctVal>0.5726043691</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Rheinmetall AG</name>
        <lei>5299001OU9CSE29O6S05</lei>
        <title>Rheinmetall AG</title>
        <cusip>D65111102</cusip>
        <identifiers>
          <isin value="DE0007030009"/>
          <ticker value="RHM"/>
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        <balance>25913.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".907610000000"/>
        <valUSD>2761158.080000000000</valUSD>
        <pctVal>0.4456855866</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Volkswagen AG</name>
        <lei>529900NNUPAGGOMPXZ31</lei>
        <title>Volkswagen AG</title>
        <cusip>D94523103</cusip>
        <identifiers>
          <isin value="DE0007664039"/>
          <ticker value="VOW3"/>
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        <balance>17409.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".907610000000"/>
        <valUSD>3368356.930000000000</valUSD>
        <pctVal>0.5436951057</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UCB SA</name>
        <lei>2138008J191VLSGY5A09</lei>
        <title>UCB SA</title>
        <cusip>B93562120</cusip>
        <identifiers>
          <isin value="BE0003739530"/>
          <ticker value="UCB"/>
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        <balance>2514.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".907610000000"/>
        <valUSD>203903.020000000000</valUSD>
        <pctVal>0.0329125079</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BlueScope Steel Ltd</name>
        <lei>529900H6UQI16XACWC95</lei>
        <title>BlueScope Steel Ltd</title>
        <cusip>Q1415L177</cusip>
        <identifiers>
          <isin value="AU000000BSL0"/>
          <ticker value="BSL"/>
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        <balance>338575.000000000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.478420000000"/>
        <valUSD>3332115.540000000000</valUSD>
        <pctVal>0.5378452903</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>GS Engineering &amp; Construction</name>
        <lei>988400BQ69DJXXFA0D28</lei>
        <title>GS Engineering and Construction Corp</title>
        <cusip>Y2901E108</cusip>
        <identifiers>
          <isin value="KR7006360002"/>
          <ticker value="006360"/>
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        <balance>76868.000000000000</balance>
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        <currencyConditional curCd="KRW" exchangeRt="1181.150000000000"/>
        <valUSD>1952368.450000000000</valUSD>
        <pctVal>0.3151367842</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Sino-Thai Engineering &amp; Constr</name>
        <lei>52990031W69XUIL5KM46</lei>
        <title>Sino-Thai Engineering &amp; Construction PCL</title>
        <cusip>Y8048P146</cusip>
        <identifiers>
          <isin value="TH0307010R17"/>
          <ticker value="STEC-R"/>
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        <balance>3621000.000000000000</balance>
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        <currencyConditional curCd="THB" exchangeRt="30.217500000000"/>
        <valUSD>1749535.860000000000</valUSD>
        <pctVal>0.2823970571</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="674161.910000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Makino Milling Machine Co Ltd</name>
        <lei>353800JAOIGQ7V5T9078</lei>
        <title>Makino Milling Machine Co Ltd</title>
        <cusip>J39530100</cusip>
        <identifiers>
          <isin value="JP3862800004"/>
          <ticker value="6135"/>
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        <balance>71300.000000000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="109.420000000000"/>
        <valUSD>3515843.300000000000</valUSD>
        <pctVal>0.5675012578</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>Repsol SA</name>
        <lei>BSYCX13Y0NOTV14V9N85</lei>
        <title>Repsol SA</title>
        <cusip>E8471S130</cusip>
        <identifiers>
          <isin value="ES0173516115"/>
          <ticker value="REP"/>
        </identifiers>
        <balance>179320.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".907610000000"/>
        <valUSD>2825384.860000000000</valUSD>
        <pctVal>0.4560525954</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Suedzucker AG</name>
        <lei>529900S8QNB101D40S72</lei>
        <title>Suedzucker AG</title>
        <cusip>D82781101</cusip>
        <identifiers>
          <isin value="DE0007297004"/>
          <ticker value="SZU"/>
        </identifiers>
        <balance>58370.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".907610000000"/>
        <valUSD>876563.650000000000</valUSD>
        <pctVal>0.1414883803</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="172030.020000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STMicroelectronics NV</name>
        <lei>213800Z8NOHIKRI42W10</lei>
        <title>STMicroelectronics NV</title>
        <cusip>N83574108</cusip>
        <identifiers>
          <isin value="NL0000226223"/>
          <ticker value="STM"/>
        </identifiers>
        <balance>160921.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".907610000000"/>
        <valUSD>3956710.180000000000</valUSD>
        <pctVal>0.6386627083</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dialog Semiconductor PLC</name>
        <lei>529900QA2LORU6646N15</lei>
        <title>Dialog Semiconductor PLC</title>
        <cusip>G5821P111</cusip>
        <identifiers>
          <isin value="GB0059822006"/>
          <ticker value="DLG"/>
        </identifiers>
        <balance>62902.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".907610000000"/>
        <valUSD>3202838.480000000000</valUSD>
        <pctVal>0.5169783494</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>Eregli Demir ve Celik Fabrikal</name>
        <lei>789000VYQF5IDGG49908</lei>
        <title>Eregli Demir ve Celik Fabrikalari TAS</title>
        <cusip>M40710101</cusip>
        <identifiers>
          <isin value="TRAEREGL91G3"/>
          <ticker value="EREGL"/>
        </identifiers>
        <balance>2263476.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TRY" exchangeRt="5.750250000000"/>
        <valUSD>3160629.850000000000</valUSD>
        <pctVal>0.5101653465</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KOC Holding AS</name>
        <lei>7890005U0H950VH19H45</lei>
        <title>KOC Holding AS</title>
        <cusip>M63751107</cusip>
        <identifiers>
          <isin value="TRAKCHOL91Q8"/>
          <ticker value="KCHOL"/>
        </identifiers>
        <balance>907488.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TRY" exchangeRt="5.750250000000"/>
        <valUSD>3163212.290000000000</valUSD>
        <pctVal>0.5105821848</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Soda Sanayii AS</name>
        <lei>7890003F5C19ALZBS418</lei>
        <title>Soda Sanayii AS</title>
        <cusip>M9067M108</cusip>
        <identifiers>
          <isin value="TRASODAS91E5"/>
          <ticker value="SODA"/>
        </identifiers>
        <balance>2332936.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TRY" exchangeRt="5.750250000000"/>
        <valUSD>2355885.570000000000</valUSD>
        <pctVal>0.3802695144</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Turkiye Sise ve Cam Fabrikalar</name>
        <lei>789000KWOK751Q6R8875</lei>
        <title>Turkiye Sise ve Cam Fabrikalari AS</title>
        <cusip>M9013U105</cusip>
        <identifiers>
          <isin value="TRASISEW91Q3"/>
          <ticker value="SISE"/>
        </identifiers>
        <balance>2894345.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TRY" exchangeRt="5.750250000000"/>
        <valUSD>2514630.720000000000</valUSD>
        <pctVal>0.4058929750</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zurich Insurance Group AG</name>
        <lei>529900QVNRBND50TXP03</lei>
        <title>Zurich Insurance Group AG</title>
        <cusip>H9870Y105</cusip>
        <identifiers>
          <isin value="CH0011075394"/>
          <ticker value="ZURN"/>
        </identifiers>
        <balance>8628.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt=".999750000000"/>
        <valUSD>3386965.930000000000</valUSD>
        <pctVal>0.5466988320</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Koninklijke Philips NV</name>
        <lei>H1FJE8H61JGM1JSGM897</lei>
        <title>Koninklijke Philips NV</title>
        <cusip>N7637U112</cusip>
        <identifiers>
          <isin value="NL0000009538"/>
          <ticker value="PHIA"/>
        </identifiers>
        <balance>4918.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".907610000000"/>
        <valUSD>228534.220000000000</valUSD>
        <pctVal>0.0368882929</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Turkcell Iletisim Hizmetleri A</name>
        <lei>7890003EX1LTLS2FFL84</lei>
        <title>Turkcell Iletisim Hizmetleri AS</title>
        <cusip>M8903B102</cusip>
        <identifiers>
          <isin value="TRATCELL91M1"/>
          <ticker value="TCELL"/>
        </identifiers>
        <balance>114902.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TRY" exchangeRt="5.750250000000"/>
        <valUSD>271275.550000000000</valUSD>
        <pctVal>0.0437872802</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Turkiye Garanti Bankasi AS</name>
        <lei>5493002XSS7K7RHN1V37</lei>
        <title>Turkiye Garanti Bankasi AS</title>
        <cusip>M4752S106</cusip>
        <identifiers>
          <isin value="TRAGARAN91N1"/>
          <ticker value="GARAN"/>
        </identifiers>
        <balance>1782652.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TRY" exchangeRt="5.750250000000"/>
        <valUSD>3134810.690000000000</valUSD>
        <pctVal>0.5059978099</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ST Engineering</name>
        <lei>254900OEXGGWCR24DG90</lei>
        <title>Singapore Technologies Engineering Ltd</title>
        <cusip>Y7996W103</cusip>
        <identifiers>
          <isin value="SG1F60858221"/>
          <ticker value="STE"/>
        </identifiers>
        <balance>900300.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.367600000000"/>
        <valUSD>2719104.170000000000</valUSD>
        <pctVal>0.4388975574</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Mobile Ltd</name>
        <lei>529900U2JJ7GK68NI589</lei>
        <title>China Mobile Ltd</title>
        <cusip>Y14965100</cusip>
        <identifiers>
          <isin value="HK0941009539"/>
          <ticker value="941"/>
        </identifiers>
        <balance>344500.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.828200000000"/>
        <valUSD>2596595.450000000000</valUSD>
        <pctVal>0.4191231117</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Turkiye Is Bankasi AS</name>
        <lei>789000FIRX9MDN0KTM91</lei>
        <title>Turkiye Is Bankasi AS</title>
        <cusip>M8933F115</cusip>
        <identifiers>
          <isin value="TRAISCTR91N2"/>
          <ticker value="ISCTR"/>
        </identifiers>
        <balance>2801394.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TRY" exchangeRt="5.750250000000"/>
        <valUSD>2999664.510000000000</valUSD>
        <pctVal>0.4841835194</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tupras Turkiye Petrol Rafineri</name>
        <lei>789000RCNG97UV50EE03</lei>
        <title>Tupras Turkiye Petrol Rafinerileri AS</title>
        <cusip>M8966X108</cusip>
        <identifiers>
          <isin value="TRATUPRS91E8"/>
          <ticker value="TUPRS"/>
        </identifiers>
        <balance>54580.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TRY" exchangeRt="5.750250000000"/>
        <valUSD>1177411.330000000000</valUSD>
        <pctVal>0.1900489737</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Malayan Banking Bhd</name>
        <lei>5493004OT3TOY404V310</lei>
        <title>Malayan Banking Bhd</title>
        <cusip>Y54671105</cusip>
        <identifiers>
          <isin value="MYL1155OO000"/>
          <ticker value="MAY"/>
        </identifiers>
        <balance>387900.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MYR" exchangeRt="4.176500000000"/>
        <valUSD>792239.200000000000</valUSD>
        <pctVal>0.1278773552</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MISC Bhd</name>
        <lei>N/A</lei>
        <title>MISC Bhd</title>
        <cusip>Y6080H105</cusip>
        <identifiers>
          <isin value="MYL3816OO005"/>
          <ticker value="MISC"/>
        </identifiers>
        <balance>1753900.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MYR" exchangeRt="4.176500000000"/>
        <valUSD>3422551.180000000000</valUSD>
        <pctVal>0.5524427382</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Yapi ve Kredi Bankasi AS</name>
        <lei>B85ZYWEZ5IZCZ2WNIO12</lei>
        <title>Yapi ve Kredi Bankasi AS</title>
        <cusip>M9869G101</cusip>
        <identifiers>
          <isin value="TRAYKBNK91N6"/>
          <ticker value="YKBNK"/>
        </identifiers>
        <balance>6267418.612000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TRY" exchangeRt="5.750250000000"/>
        <valUSD>2618926.560000000000</valUSD>
        <pctVal>0.4227276332</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Haci Omer Sabanci Holding AS</name>
        <lei>78900090FFOWNLGP0F20</lei>
        <title>Haci Omer Sabanci Holding AS</title>
        <cusip>M8223R100</cusip>
        <identifiers>
          <isin value="TRASAHOL91Q5"/>
          <ticker value="SAHOL"/>
        </identifiers>
        <balance>1835010.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TRY" exchangeRt="5.750250000000"/>
        <valUSD>2907389.400000000000</valUSD>
        <pctVal>0.4692891579</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mobile TeleSystems PJSC</name>
        <lei>2534008FX8EXH1FMJA74</lei>
        <title>Mobile TeleSystems PJSC</title>
        <cusip>607409109</cusip>
        <identifiers>
          <isin value="US6074091090"/>
          <ticker value="MBT"/>
        </identifiers>
        <balance>329888.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3114142.720000000000</valUSD>
        <pctVal>0.5026617400</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>RU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Barloworld Ltd</name>
        <lei>N/A</lei>
        <title>Barloworld Ltd</title>
        <cusip>S08470189</cusip>
        <identifiers>
          <isin value="ZAE000026639"/>
          <ticker value="BAW"/>
        </identifiers>
        <balance>67718.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="14.650500000000"/>
        <valUSD>526243.680000000000</valUSD>
        <pctVal>0.0849423381</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>Telstra Corp Ltd</name>
        <lei>PCTXNQGRJVR3OG33JG65</lei>
        <title>Telstra Corp Ltd</title>
        <cusip>Q8975N105</cusip>
        <identifiers>
          <isin value="AU000000TLS2"/>
          <ticker value="TLS"/>
        </identifiers>
        <balance>1142133.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.478420000000"/>
        <valUSD>2981989.810000000000</valUSD>
        <pctVal>0.4813306008</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Yanzhou Coal Mining Co Ltd</name>
        <lei>3003005N7A6HYZ4Z0K39</lei>
        <title>Yanzhou Coal Mining Co Ltd</title>
        <cusip>Y97417102</cusip>
        <identifiers>
          <isin value="CNE1000004Q8"/>
          <ticker value="1171"/>
        </identifiers>
        <balance>3430000.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.828200000000"/>
        <valUSD>3032237.870000000000</valUSD>
        <pctVal>0.4894412687</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hudbay Minerals Inc</name>
        <lei>549300WI524AL577IX21</lei>
        <title>Hudbay Minerals Inc</title>
        <cusip>443628102</cusip>
        <identifiers>
          <isin value="CA4436281022"/>
          <ticker value="HBM"/>
        </identifiers>
        <balance>133315.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.328300000000"/>
        <valUSD>434597.360000000000</valUSD>
        <pctVal>0.0701494712</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>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Metcash Ltd</name>
        <lei>25490065W4SN3LZMX216</lei>
        <title>Metcash Ltd</title>
        <cusip>Q6014C106</cusip>
        <identifiers>
          <isin value="AU000000MTS0"/>
          <ticker value="MTS"/>
        </identifiers>
        <balance>1399652.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.478420000000"/>
        <valUSD>2840164.500000000000</valUSD>
        <pctVal>0.4584382149</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>MTN Group Ltd</name>
        <lei>2549009JD6Q6XHZS5E05</lei>
        <title>MTN Group Ltd</title>
        <cusip>S8039R108</cusip>
        <identifiers>
          <isin value="ZAE000042164"/>
          <ticker value="MTN"/>
        </identifiers>
        <balance>388496.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="14.650500000000"/>
        <valUSD>2449012.180000000000</valUSD>
        <pctVal>0.3953013186</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="2282595.260000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Telkom SA SOC Ltd</name>
        <lei>N/A</lei>
        <title>Telkom SA SOC Ltd</title>
        <cusip>S84197102</cusip>
        <identifiers>
          <isin value="ZAE000044897"/>
          <ticker value="TKG"/>
        </identifiers>
        <balance>485592.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="14.650500000000"/>
        <valUSD>1553907.660000000000</valUSD>
        <pctVal>0.2508202091</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="1410119.930000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Shenhua Energy Co Ltd</name>
        <lei>529900N9JOX4C108MA40</lei>
        <title>China Shenhua Energy Co Ltd</title>
        <cusip>Y1504C113</cusip>
        <identifiers>
          <isin value="CNE1000002R0"/>
          <ticker value="1088"/>
        </identifiers>
        <balance>861500.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.828200000000"/>
        <valUSD>1668466.670000000000</valUSD>
        <pctVal>0.2693114718</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EDP - Energias do Brasil SA</name>
        <lei>N/A</lei>
        <title>EDP - Energias do Brasil SA</title>
        <cusip>P3769R108</cusip>
        <identifiers>
          <isin value="BRENBRACNOR2"/>
          <ticker value="ENBR3"/>
        </identifiers>
        <balance>583377.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.233700000000"/>
        <valUSD>2738697.220000000000</valUSD>
        <pctVal>0.4420601217</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Oversea-Chinese Banking Corp L</name>
        <lei>5493007O3QFXCPOGWK22</lei>
        <title>Oversea-Chinese Banking Corp Ltd</title>
        <cusip>Y64248209</cusip>
        <identifiers>
          <isin value="SG1S04926220"/>
          <ticker value="OCBC"/>
        </identifiers>
        <balance>357800.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.367600000000"/>
        <valUSD>2820639.880000000000</valUSD>
        <pctVal>0.4552866960</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Turkiye Vakiflar Bankasi TAO</name>
        <lei>789000KAIHOLSQKQ9858</lei>
        <title>Turkiye Vakiflar Bankasi TAO</title>
        <cusip>M9037B109</cusip>
        <identifiers>
          <isin value="TREVKFB00019"/>
          <ticker value="VAKBN"/>
        </identifiers>
        <balance>3579068.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TRY" exchangeRt="5.750250000000"/>
        <valUSD>3196764.840000000000</valUSD>
        <pctVal>0.5159979877</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mitsubishi Heavy Industries Lt</name>
        <lei>353800TJ98PCAZROVE69</lei>
        <title>Mitsubishi Heavy Industries Ltd</title>
        <cusip>J44002178</cusip>
        <identifiers>
          <isin value="JP3900000005"/>
          <ticker value="7011"/>
        </identifiers>
        <balance>71200.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="109.420000000000"/>
        <valUSD>2722907.500000000000</valUSD>
        <pctVal>0.4395114626</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ComfortDelGro Corp Ltd</name>
        <lei>2549005O5PVA2JCH6Q33</lei>
        <title>ComfortDelGro Corp Ltd</title>
        <cusip>Y1690R106</cusip>
        <identifiers>
          <isin value="SG1N31909426"/>
          <ticker value="CD"/>
        </identifiers>
        <balance>1486800.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.367600000000"/>
        <valUSD>2555106.220000000000</valUSD>
        <pctVal>0.4124262289</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Novolipetsk Steel PJSC</name>
        <lei>213800913TPW32I84456</lei>
        <title>Novolipetsk Steel PJSC</title>
        <cusip>67011E204</cusip>
        <identifiers>
          <isin value="US67011E2046"/>
          <ticker value="NLMK"/>
        </identifiers>
        <balance>34801.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>700892.140000000000</valUSD>
        <pctVal>0.1131327927</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>RU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ICA Gruppen AB</name>
        <lei>549300ZEFN8VKPK9I111</lei>
        <title>ICA Gruppen AB</title>
        <cusip>W4241E105</cusip>
        <identifiers>
          <isin value="SE0000652216"/>
          <ticker value="ICA"/>
        </identifiers>
        <balance>68175.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.576350000000"/>
        <valUSD>2977089.790000000000</valUSD>
        <pctVal>0.4805396761</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>NTT</name>
        <lei>353800VHQU5VIXVUA841</lei>
        <title>Nippon Telegraph and Telephone Corp</title>
        <cusip>J59396101</cusip>
        <identifiers>
          <isin value="JP3735400008"/>
          <ticker value="9432"/>
        </identifiers>
        <balance>64600.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="109.420000000000"/>
        <valUSD>3260379.870000000000</valUSD>
        <pctVal>0.5262662523</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>Alfresa Holdings Corp</name>
        <lei>N/A</lei>
        <title>Alfresa Holdings Corp</title>
        <cusip>J0109X107</cusip>
        <identifiers>
          <isin value="JP3126340003"/>
          <ticker value="2784"/>
        </identifiers>
        <balance>107600.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="109.420000000000"/>
        <valUSD>2221565.150000000000</valUSD>
        <pctVal>0.3585885119</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>JB Hi-Fi Ltd</name>
        <lei>529900TPC8H040Y3ZQ65</lei>
        <title>JB Hi-Fi Ltd</title>
        <cusip>Q5029L101</cusip>
        <identifiers>
          <isin value="AU000000JBH7"/>
          <ticker value="JBH"/>
        </identifiers>
        <balance>64421.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.478420000000"/>
        <valUSD>1630111.610000000000</valUSD>
        <pctVal>0.2631204835</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="713200.750000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Great Wall Motor Co Ltd</name>
        <lei>254900CR8AHWTMFZHH60</lei>
        <title>Great Wall Motor Co Ltd</title>
        <cusip>Y2882P106</cusip>
        <identifiers>
          <isin value="CNE100000338"/>
          <ticker value="2333"/>
        </identifiers>
        <balance>4292500.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.828200000000"/>
        <valUSD>3317635.970000000000</valUSD>
        <pctVal>0.5355081058</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ND PAPER</name>
        <lei>529900TBMYEYJ2LEV906</lei>
        <title>Nine Dragons Paper Holdings Ltd</title>
        <cusip>G65318100</cusip>
        <identifiers>
          <isin value="BMG653181005"/>
          <ticker value="2689"/>
        </identifiers>
        <balance>3160000.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.828200000000"/>
        <valUSD>3217425.190000000000</valUSD>
        <pctVal>0.5193328276</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Norsk Hydro ASA</name>
        <lei>549300N1SDN71ZZ8BO45</lei>
        <title>Norsk Hydro ASA</title>
        <cusip>R61115102</cusip>
        <identifiers>
          <isin value="NO0005052605"/>
          <ticker value="NHY"/>
        </identifiers>
        <balance>187507.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="9.220800000000"/>
        <valUSD>663734.390000000000</valUSD>
        <pctVal>0.1071350652</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PTT Exploration &amp; Production P</name>
        <lei>2549001O8YYGP5N7Q076</lei>
        <title>PTT Exploration and Production PCL</title>
        <cusip>Y7145P140</cusip>
        <identifiers>
          <isin value="TH0355010R16"/>
          <ticker value="PTTEP-R"/>
        </identifiers>
        <balance>690700.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="30.217500000000"/>
        <valUSD>2742913.870000000000</valUSD>
        <pctVal>0.4427407420</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DNO ASA</name>
        <lei>5967007LIEEXZXH3K072</lei>
        <title>DNO ASA</title>
        <cusip>R6007G105</cusip>
        <identifiers>
          <isin value="NO0003921009"/>
          <ticker value="DNO"/>
        </identifiers>
        <balance>1808021.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="9.220800000000"/>
        <valUSD>2057424.870000000000</valUSD>
        <pctVal>0.3320942096</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TGS NOPEC Geophysical Co ASA</name>
        <lei>549300NUPLAXPB0WYH90</lei>
        <title>TGS NOPEC Geophysical Co ASA</title>
        <cusip>R9138B102</cusip>
        <identifiers>
          <isin value="NO0003078800"/>
          <ticker value="TGS"/>
        </identifiers>
        <balance>110201.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="9.220800000000"/>
        <valUSD>3141044.400000000000</valUSD>
        <pctVal>0.5070040089</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Rosneft Oil Co PJSC</name>
        <lei>253400JT3MQWNDKMJE44</lei>
        <title>Rosneft Oil Co PJSC</title>
        <cusip>67812M207</cusip>
        <identifiers>
          <isin value="US67812M2070"/>
          <ticker value="ROSN"/>
        </identifiers>
        <balance>289313.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1961542.140000000000</valUSD>
        <pctVal>0.3166175329</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>RU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Weichai Power Co Ltd</name>
        <lei>529900OKTPKBG85F9502</lei>
        <title>Weichai Power Co Ltd</title>
        <cusip>Y9531A109</cusip>
        <identifiers>
          <isin value="CNE1000004L9"/>
          <ticker value="2338"/>
        </identifiers>
        <balance>1897000.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.828200000000"/>
        <valUSD>3242548.630000000000</valUSD>
        <pctVal>0.5233880663</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Samsung Electro-Mechanics Co L</name>
        <lei>N/A</lei>
        <title>Samsung Electro-Mechanics Co Ltd</title>
        <cusip>Y7470U102</cusip>
        <identifiers>
          <isin value="KR7009150004"/>
          <ticker value="009150"/>
        </identifiers>
        <balance>37407.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1181.150000000000"/>
        <valUSD>3515368.070000000000</valUSD>
        <pctVal>0.5674245497</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wilmar International Ltd</name>
        <lei>549300H2EAI4YRLWBB20</lei>
        <title>Wilmar International Ltd</title>
        <cusip>Y9586L109</cusip>
        <identifiers>
          <isin value="SG1T56930848"/>
          <ticker value="WIL"/>
        </identifiers>
        <balance>1056600.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.367600000000"/>
        <valUSD>3160257.410000000000</valUSD>
        <pctVal>0.5101052300</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mapfre SA</name>
        <lei>95980020140005693107</lei>
        <title>Mapfre SA</title>
        <cusip>E7347B107</cusip>
        <identifiers>
          <isin value="ES0124244E34"/>
          <ticker value="MAP"/>
        </identifiers>
        <balance>125279.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".907610000000"/>
        <valUSD>353480.300000000000</valUSD>
        <pctVal>0.0570561591</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Samsung Electronics Co Ltd</name>
        <lei>9884007ER46L6N7EI764</lei>
        <title>Samsung Electronics Co Ltd</title>
        <cusip>Y74718100</cusip>
        <identifiers>
          <isin value="KR7005930003"/>
          <ticker value="005930"/>
        </identifiers>
        <balance>76036.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1181.150000000000"/>
        <valUSD>3238039.880000000000</valUSD>
        <pctVal>0.5226602974</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sankyo Co Ltd</name>
        <lei>3538009H2R9ZBZAOAK48</lei>
        <title>Sankyo Co Ltd</title>
        <cusip>J67844100</cusip>
        <identifiers>
          <isin value="JP3326410002"/>
          <ticker value="6417"/>
        </identifiers>
        <balance>89100.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="109.420000000000"/>
        <valUSD>3010410.010000000000</valUSD>
        <pctVal>0.4859179780</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="2749261.460000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Medipal Holdings Corp</name>
        <lei>353800PJDODZEA4NP730</lei>
        <title>Medipal Holdings Corp</title>
        <cusip>J4189T101</cusip>
        <identifiers>
          <isin value="JP3268950007"/>
          <ticker value="7459"/>
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        <balance>138700.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="109.420000000000"/>
        <valUSD>2973861.750000000000</valUSD>
        <pctVal>0.4800186299</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>Sawai Pharmaceutical Co Ltd</name>
        <lei>N/A</lei>
        <title>Sawai Pharmaceutical Co Ltd</title>
        <cusip>J69811107</cusip>
        <identifiers>
          <isin value="JP3323050009"/>
          <ticker value="4555"/>
        </identifiers>
        <balance>54800.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="109.420000000000"/>
        <valUSD>3232654.550000000000</valUSD>
        <pctVal>0.5217910375</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>Sekisui Chemical Co Ltd</name>
        <lei>N/A</lei>
        <title>Sekisui Chemical Co Ltd</title>
        <cusip>J70703137</cusip>
        <identifiers>
          <isin value="JP3419400001"/>
          <ticker value="4204"/>
        </identifiers>
        <balance>207900.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="109.420000000000"/>
        <valUSD>3616560.130000000000</valUSD>
        <pctVal>0.5837582189</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>Singapore Airlines Ltd</name>
        <lei>549300ZG62N2599PWR15</lei>
        <title>Singapore Airlines Ltd</title>
        <cusip>Y7992P128</cusip>
        <identifiers>
          <isin value="SG1V61937297"/>
          <ticker value="SIA"/>
        </identifiers>
        <balance>280400.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.367600000000"/>
        <valUSD>1884438.920000000000</valUSD>
        <pctVal>0.3041721050</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Suzuken Co Ltd/Aichi Japan</name>
        <lei>N/A</lei>
        <title>Suzuken Co Ltd/Aichi Japan</title>
        <cusip>J78454105</cusip>
        <identifiers>
          <isin value="JP3398000004"/>
          <ticker value="9987"/>
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        <balance>53200.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="109.420000000000"/>
        <valUSD>2324554.840000000000</valUSD>
        <pctVal>0.3752123411</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Swire Pacific Ltd</name>
        <lei>549300KZOZHII0DGF611</lei>
        <title>Swire Pacific Ltd</title>
        <cusip>Y83310105</cusip>
        <identifiers>
          <isin value="HK0019000162"/>
          <ticker value="19"/>
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        <balance>56000.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.828200000000"/>
        <valUSD>504001.790000000000</valUSD>
        <pctVal>0.0813522178</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="900.100000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Severstal PJSC</name>
        <lei>213800OKDPTV6K4ONO53</lei>
        <title>Severstal PJSC</title>
        <cusip>818150302</cusip>
        <identifiers>
          <isin value="US8181503025"/>
          <ticker value="SVJTY"/>
        </identifiers>
        <balance>63885.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>897584.250000000000</valUSD>
        <pctVal>0.1448813691</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>RU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Grupo Aeroportuario del Centro</name>
        <lei>529900HUSBARAFSXJ605</lei>
        <title>Grupo Aeroportuario del Centro Norte SAB de CV</title>
        <cusip>P49530101</cusip>
        <identifiers>
          <isin value="MX01OM000018"/>
          <ticker value="OMAB"/>
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        <balance>491974.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="19.572500000000"/>
        <valUSD>3284955.210000000000</valUSD>
        <pctVal>0.5302330208</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Electrolux AB</name>
        <lei>549300Y3HHZB1ZGFPJ93</lei>
        <title>Electrolux AB</title>
        <cusip>W24713120</cusip>
        <identifiers>
          <isin value="SE0000103814"/>
          <ticker value="ELUXB"/>
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        <balance>121719.000000000000</balance>
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        <currencyConditional curCd="SEK" exchangeRt="9.576350000000"/>
        <valUSD>3129395.790000000000</valUSD>
        <pctVal>0.5051237770</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SKF AB</name>
        <lei>549300B6HWYEE57O8J84</lei>
        <title>SKF AB</title>
        <cusip>W84237143</cusip>
        <identifiers>
          <isin value="SE0000108227"/>
          <ticker value="SKFB"/>
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        <balance>172162.000000000000</balance>
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        <currencyConditional curCd="SEK" exchangeRt="9.576350000000"/>
        <valUSD>3289588.000000000000</valUSD>
        <pctVal>0.5309808113</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>THK Co Ltd</name>
        <lei>N/A</lei>
        <title>THK Co Ltd</title>
        <cusip>J83345108</cusip>
        <identifiers>
          <isin value="JP3539250005"/>
          <ticker value="6481"/>
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        <balance>118700.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="109.420000000000"/>
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        <pctVal>0.5379964112</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Taiyo Yuden Co Ltd</name>
        <lei>353800V9G3X5PLB9AD43</lei>
        <title>Taiyo Yuden Co Ltd</title>
        <cusip>J80206113</cusip>
        <identifiers>
          <isin value="JP3452000007"/>
          <ticker value="6976"/>
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        <balance>147900.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="109.420000000000"/>
        <valUSD>3870709.520000000000</valUSD>
        <pctVal>0.6247811219</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="2354756.250000000000"/>
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      <invstOrSec>
        <name>United Microelectronics Corp</name>
        <lei>391200YJCAGH9LF96P73</lei>
        <title>United Microelectronics Corp</title>
        <cusip>Y92370108</cusip>
        <identifiers>
          <isin value="TW0002303005"/>
          <ticker value="2303"/>
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        <balance>6969000.000000000000</balance>
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        <currencyConditional curCd="TWD" exchangeRt="30.510500000000"/>
        <valUSD>3414776.880000000000</valUSD>
        <pctVal>0.5511878685</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Mizrahi Tefahot Bank Ltd</name>
        <lei>YZO9YEGEO4VYDZMDWF93</lei>
        <title>Mizrahi Tefahot Bank Ltd</title>
        <cusip>M7031A135</cusip>
        <identifiers>
          <isin value="IL0006954379"/>
          <ticker value="MZTF"/>
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        <balance>85975.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ILS" exchangeRt="3.474400000000"/>
        <valUSD>2301189.590000000000</valUSD>
        <pctVal>0.3714408964</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>United Overseas Bank Ltd</name>
        <lei>IO66REGK3RCBAMA8HR66</lei>
        <title>United Overseas Bank Ltd</title>
        <cusip>Y9T10P105</cusip>
        <identifiers>
          <isin value="SG1M31001969"/>
          <ticker value="UOB"/>
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        <balance>158219.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.367600000000"/>
        <valUSD>2987469.070000000000</valUSD>
        <pctVal>0.4822150222</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UOL Group Ltd</name>
        <lei>254900O9PRCWTMR86R25</lei>
        <title>UOL Group Ltd</title>
        <cusip>Y9299W103</cusip>
        <identifiers>
          <isin value="SG1S83002349"/>
          <ticker value="UOL"/>
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        <balance>115900.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.367600000000"/>
        <valUSD>657708.870000000000</valUSD>
        <pctVal>0.1061624706</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Venture Corp Ltd</name>
        <lei>254900B1NLZC3J1MAE72</lei>
        <title>Venture Corp Ltd</title>
        <cusip>Y9361F111</cusip>
        <identifiers>
          <isin value="SG0531000230"/>
          <ticker value="VMS"/>
        </identifiers>
        <balance>265700.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.367600000000"/>
        <valUSD>3083592.820000000000</valUSD>
        <pctVal>0.4977306025</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wesfarmers Ltd</name>
        <lei>5493003L32ZX9557ST85</lei>
        <title>Wesfarmers Ltd</title>
        <cusip>Q95870103</cusip>
        <identifiers>
          <isin value="AU000000WES1"/>
          <ticker value="WES"/>
        </identifiers>
        <balance>111948.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.478420000000"/>
        <valUSD>3208314.800000000000</valUSD>
        <pctVal>0.5178622962</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Volvo AB</name>
        <lei>549300HGV012CNC8JD22</lei>
        <title>Volvo AB</title>
        <cusip>928856301</cusip>
        <identifiers>
          <isin value="SE0000115446"/>
          <ticker value="VOLVB"/>
        </identifiers>
        <balance>192852.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.576350000000"/>
        <valUSD>2982792.640000000000</valUSD>
        <pctVal>0.4814601877</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>TAV Havalimanlari Holding AS</name>
        <lei>789000PBM9TT5D88M597</lei>
        <title>TAV Havalimanlari Holding AS</title>
        <cusip>M8782T109</cusip>
        <identifiers>
          <isin value="TRETAVH00018"/>
          <ticker value="TAVHL"/>
        </identifiers>
        <balance>675404.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TRY" exchangeRt="5.750250000000"/>
        <valUSD>3163292.000000000000</valUSD>
        <pctVal>0.5105950510</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>H Lundbeck A/S</name>
        <lei>5493006R4KC2OI5D3470</lei>
        <title>H Lundbeck A/S</title>
        <cusip>K4406L129</cusip>
        <identifiers>
          <isin value="DK0010287234"/>
          <ticker value="LUN"/>
        </identifiers>
        <balance>78323.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="6.781450000000"/>
        <valUSD>3002820.880000000000</valUSD>
        <pctVal>0.4846929971</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Novartis AG</name>
        <lei>5493007HIVTX6SY6XD66</lei>
        <title>Novartis AG</title>
        <cusip>H5820Q150</cusip>
        <identifiers>
          <isin value="CH0012005267"/>
          <ticker value="NOVN"/>
        </identifiers>
        <balance>32494.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt=".999750000000"/>
        <valUSD>2993343.310000000000</valUSD>
        <pctVal>0.4831631983</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JBS SA</name>
        <lei>N/A</lei>
        <title>JBS SA</title>
        <cusip>P59695109</cusip>
        <identifiers>
          <isin value="BRJBSSACNOR8"/>
          <ticker value="JBSS3"/>
        </identifiers>
        <balance>448418.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.233700000000"/>
        <valUSD>2989594.740000000000</valUSD>
        <pctVal>0.4825581320</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Orkla ASA</name>
        <lei>549300PZS8G8RG6RVZ52</lei>
        <title>Orkla ASA</title>
        <cusip>R67787102</cusip>
        <identifiers>
          <isin value="NO0003733800"/>
          <ticker value="ORK"/>
        </identifiers>
        <balance>343359.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="9.220800000000"/>
        <valUSD>3327856.190000000000</valUSD>
        <pctVal>0.5371577777</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Peugeot SA</name>
        <lei>969500TZ5950IT5FPQ42</lei>
        <title>Peugeot SA</title>
        <cusip>F72313111</cusip>
        <identifiers>
          <isin value="FR0000121501"/>
          <ticker value="UG"/>
        </identifiers>
        <balance>69399.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".907610000000"/>
        <valUSD>1677298.730000000000</valUSD>
        <pctVal>0.2707370772</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Roche Holding AG</name>
        <lei>549300U41AUUVOAAOB37</lei>
        <title>Roche Holding AG</title>
        <cusip>H69293217</cusip>
        <identifiers>
          <isin value="CH0012032048"/>
          <ticker value="ROG"/>
        </identifiers>
        <balance>11377.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt=".999750000000"/>
        <valUSD>3508672.040000000000</valUSD>
        <pctVal>0.5663437264</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Adecco Group AG</name>
        <lei>NI14Y5UMU60O7JE9P611</lei>
        <title>Adecco Group AG</title>
        <cusip>H00392318</cusip>
        <identifiers>
          <isin value="CH0012138605"/>
          <ticker value="ADEN"/>
        </identifiers>
        <balance>54998.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt=".999750000000"/>
        <valUSD>3402187.780000000000</valUSD>
        <pctVal>0.5491558297</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Baloise Holding AG</name>
        <lei>529900G5XKBZN48T6283</lei>
        <title>Baloise Holding AG</title>
        <cusip>H04530202</cusip>
        <identifiers>
          <isin value="CH0012410517"/>
          <ticker value="BALN"/>
        </identifiers>
        <balance>16616.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt=".999750000000"/>
        <valUSD>2889739.130000000000</valUSD>
        <pctVal>0.4664401827</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Yangzijiang Shipbuilding Holdi</name>
        <lei>254900Z3JEM14YIGLM66</lei>
        <title>Yangzijiang Shipbuilding Holdings Ltd</title>
        <cusip>Y9728A102</cusip>
        <identifiers>
          <isin value="SG1U76934819"/>
          <ticker value="YZJSGD"/>
        </identifiers>
        <balance>2739100.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.367600000000"/>
        <valUSD>2063163.550000000000</valUSD>
        <pctVal>0.3330205046</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Genting Bhd</name>
        <lei>N/A</lei>
        <title>Genting Bhd</title>
        <cusip>Y26926116</cusip>
        <identifiers>
          <isin value="MYL3182OO002"/>
          <ticker value="GENT"/>
        </identifiers>
        <balance>1888800.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MYR" exchangeRt="4.176500000000"/>
        <valUSD>2636586.620000000000</valUSD>
        <pctVal>0.4255781887</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Salmar ASA</name>
        <lei>5967007LIEEXZXGDBK67</lei>
        <title>Salmar ASA</title>
        <cusip>R7445C102</cusip>
        <identifiers>
          <isin value="NO0010310956"/>
          <ticker value="SALM"/>
        </identifiers>
        <balance>61440.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="9.220800000000"/>
        <valUSD>2928700.490000000000</valUSD>
        <pctVal>0.4727290354</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ferrexpo PLC</name>
        <lei>213800CEDKSNUTPAQZ41</lei>
        <title>Ferrexpo PLC</title>
        <cusip>G3435Y107</cusip>
        <identifiers>
          <isin value="GB00B1XH2C03"/>
          <ticker value="FXPO"/>
        </identifiers>
        <balance>249844.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".773220000000"/>
        <valUSD>463428.140000000000</valUSD>
        <pctVal>0.0748031212</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Anglo American PLC</name>
        <lei>549300S9XF92D1X8ME43</lei>
        <title>Anglo American PLC</title>
        <cusip>G03764134</cusip>
        <identifiers>
          <isin value="GB00B1XZS820"/>
          <ticker value="AAL"/>
        </identifiers>
        <balance>108475.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".773220000000"/>
        <valUSD>2843417.250000000000</valUSD>
        <pctVal>0.4589632496</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>Cia de Saneamento Basico do Es</name>
        <lei>254900UOXRZRS2TNWP19</lei>
        <title>Cia de Saneamento Basico do Estado de Sao Paulo</title>
        <cusip>P8228H104</cusip>
        <identifiers>
          <isin value="BRSBSPACNOR5"/>
          <ticker value="SBSP3"/>
        </identifiers>
        <balance>193472.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.233700000000"/>
        <valUSD>2600796.650000000000</valUSD>
        <pctVal>0.4198012381</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Equinor ASA</name>
        <lei>OW6OFBNCKXC4US5C7523</lei>
        <title>Equinor ASA</title>
        <cusip>R2R90P103</cusip>
        <identifiers>
          <isin value="NO0010096985"/>
          <ticker value="EQNR"/>
        </identifiers>
        <balance>160576.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="9.220800000000"/>
        <valUSD>2960585.130000000000</valUSD>
        <pctVal>0.4778756167</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Enel SpA</name>
        <lei>WOCMU6HCI0OJWNPRZS33</lei>
        <title>Enel SpA</title>
        <cusip>T3679P115</cusip>
        <identifiers>
          <isin value="IT0003128367"/>
          <ticker value="ENEL"/>
        </identifiers>
        <balance>435931.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".907610000000"/>
        <valUSD>3295377.840000000000</valUSD>
        <pctVal>0.5319153642</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ecopetrol SA</name>
        <lei>254900IDGKCJICKBPA66</lei>
        <title>Ecopetrol SA</title>
        <cusip>P3661P101</cusip>
        <identifiers>
          <isin value="COC04PA00016"/>
          <ticker value="ECOPETL"/>
        </identifiers>
        <balance>3221043.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="COP" exchangeRt="3517.070000000000"/>
        <valUSD>2956586.190000000000</valUSD>
        <pctVal>0.4772301376</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sinotruk Hong Kong Ltd</name>
        <lei>529900BB4WA4W576X724</lei>
        <title>Sinotruk Hong Kong Ltd</title>
        <cusip>Y8014Z102</cusip>
        <identifiers>
          <isin value="HK3808041546"/>
          <ticker value="3808"/>
        </identifiers>
        <balance>1936500.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.828200000000"/>
        <valUSD>3270483.860000000000</valUSD>
        <pctVal>0.5278971632</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BYD ELECTRONIC</name>
        <lei>5299001O3LAFGRPZ3Y63</lei>
        <title>BYD Electronic International Co Ltd</title>
        <cusip>Y1045N107</cusip>
        <identifiers>
          <isin value="HK0285041858"/>
          <ticker value="285"/>
        </identifiers>
        <balance>2210500.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.828200000000"/>
        <valUSD>3953498.770000000000</valUSD>
        <pctVal>0.6381443464</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="636744.300000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sime Darby Bhd</name>
        <lei>N/A</lei>
        <title>Sime Darby Bhd</title>
        <cusip>Y7962G108</cusip>
        <identifiers>
          <isin value="MYL4197OO009"/>
          <ticker value="SIME"/>
        </identifiers>
        <balance>3607900.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MYR" exchangeRt="4.176500000000"/>
        <valUSD>1943678.920000000000</valUSD>
        <pctVal>0.3137341849</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Eni SpA</name>
        <lei>BUCRF72VH5RBN7X3VL35</lei>
        <title>Eni SpA</title>
        <cusip>T3643A145</cusip>
        <identifiers>
          <isin value="IT0003132476"/>
          <ticker value="ENI"/>
        </identifiers>
        <balance>190071.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".907610000000"/>
        <valUSD>2874065.490000000000</valUSD>
        <pctVal>0.4639102604</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Swiss Life Holding AG</name>
        <lei>5493000KUC3Z24U77V93</lei>
        <title>Swiss Life Holding AG</title>
        <cusip>H8404J162</cusip>
        <identifiers>
          <isin value="CH0014852781"/>
          <ticker value="SLHN"/>
        </identifiers>
        <balance>6119.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt=".999750000000"/>
        <valUSD>3035773.450000000000</valUSD>
        <pctVal>0.4900119557</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Magnit PJSC</name>
        <lei>2534009KKPTVL99W2Y12</lei>
        <title>Magnit PJSC</title>
        <cusip>55953Q202</cusip>
        <identifiers>
          <isin value="US55953Q2021"/>
          <ticker value="MGNT"/>
        </identifiers>
        <balance>52875.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>603568.130000000000</valUSD>
        <pctVal>0.0974234753</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>RU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Turk Telekomunikasyon AS</name>
        <lei>789000A2TXOI10JZLF90</lei>
        <title>Turk Telekomunikasyon AS</title>
        <cusip>M9T40N131</cusip>
        <identifiers>
          <isin value="TRETTLK00013"/>
          <ticker value="TTKOM"/>
        </identifiers>
        <balance>3122700.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TRY" exchangeRt="5.750250000000"/>
        <valUSD>3675363.800000000000</valUSD>
        <pctVal>0.5932498697</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LG Innotek Co Ltd</name>
        <lei>N/A</lei>
        <title>LG Innotek Co Ltd</title>
        <cusip>Y5S54X104</cusip>
        <identifiers>
          <isin value="KR7011070000"/>
          <ticker value="011070"/>
        </identifiers>
        <balance>31270.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1181.150000000000"/>
        <valUSD>3229852.260000000000</valUSD>
        <pctVal>0.5213387127</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sun Art Retail Group Ltd</name>
        <lei>3003009IMRZ363PQCP28</lei>
        <title>Sun Art Retail Group Ltd</title>
        <cusip>Y8184B109</cusip>
        <identifiers>
          <isin value="HK0000083920"/>
          <ticker value="6808"/>
        </identifiers>
        <balance>2060000.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.828200000000"/>
        <valUSD>2331653.410000000000</valUSD>
        <pctVal>0.3763581395</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Qudian Inc</name>
        <lei>549300MY8WXPOW8RKH11</lei>
        <title>Qudian Inc</title>
        <cusip>747798106</cusip>
        <identifiers>
          <isin value="US7477981069"/>
          <ticker value="QD"/>
        </identifiers>
        <balance>357982.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1775590.720000000000</valUSD>
        <pctVal>0.2866026387</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Getinge AB</name>
        <lei>5493003PZ4F570G3W735</lei>
        <title>Getinge AB</title>
        <cusip>W3443C107</cusip>
        <identifiers>
          <isin value="SE0000202624"/>
          <ticker value="GETIB"/>
        </identifiers>
        <balance>204990.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.576350000000"/>
        <valUSD>3560285.570000000000</valUSD>
        <pctVal>0.5746747983</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>Telefonica Brasil SA</name>
        <lei>529900MTGG2HSDBIWG79</lei>
        <title>Telefonica Brasil SA</title>
        <cusip>P90337166</cusip>
        <identifiers>
          <isin value="BRVIVTACNPR7"/>
          <ticker value="VIVT4"/>
        </identifiers>
        <balance>214646.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.233700000000"/>
        <valUSD>2841268.740000000000</valUSD>
        <pctVal>0.4586164531</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Resources Cement Holding</name>
        <lei>529900E0EOYXYJ0GHY66</lei>
        <title>China Resources Cement Holdings Ltd</title>
        <cusip>G2113L106</cusip>
        <identifiers>
          <isin value="KYG2113L1068"/>
          <ticker value="1313"/>
        </identifiers>
        <balance>3242000.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.828200000000"/>
        <valUSD>3880749.900000000000</valUSD>
        <pctVal>0.6264017653</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Qualicorp Consultoria e Corret</name>
        <lei>N/A</lei>
        <title>Qualicorp Consultoria e Corretora de Seguros SA</title>
        <cusip>P7S21H105</cusip>
        <identifiers>
          <isin value="BRQUALACNOR6"/>
          <ticker value="QUAL3"/>
        </identifiers>
        <balance>523536.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.233700000000"/>
        <valUSD>4360839.560000000000</valUSD>
        <pctVal>0.7038942650</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Gjensidige Forsikring ASA</name>
        <lei>5967007LIEEXZX6FAO47</lei>
        <title>Gjensidige Forsikring ASA</title>
        <cusip>R2763X101</cusip>
        <identifiers>
          <isin value="NO0010582521"/>
          <ticker value="GJF"/>
        </identifiers>
        <balance>152404.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="9.220800000000"/>
        <valUSD>2870317.260000000000</valUSD>
        <pctVal>0.4633052490</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tata Motors Ltd</name>
        <lei>335800BO2LHWJJ8TZI32</lei>
        <title>Tata Motors Ltd</title>
        <cusip>876568502</cusip>
        <identifiers>
          <isin value="US8765685024"/>
          <ticker value="TTM"/>
        </identifiers>
        <balance>17226.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>193275.720000000000</valUSD>
        <pctVal>0.0311971282</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VEON Ltd</name>
        <lei>5493008CA3NMHYEVT131</lei>
        <title>VEON Ltd</title>
        <cusip>91822M106</cusip>
        <identifiers>
          <isin value="US91822M1062"/>
          <ticker value="VEON"/>
        </identifiers>
        <balance>993299.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2622309.360000000000</valUSD>
        <pctVal>0.4232736596</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Glencore PLC</name>
        <lei>2138002658CPO9NBH955</lei>
        <title>Glencore PLC</title>
        <cusip>G39420107</cusip>
        <identifiers>
          <isin value="JE00B4T3BW64"/>
          <ticker value="GLEN"/>
        </identifiers>
        <balance>638609.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".773220000000"/>
        <valUSD>2014703.600000000000</valUSD>
        <pctVal>0.3251984601</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hutchison Port Holdings Trust</name>
        <lei>529900E8LS83XV4W6889</lei>
        <title>Hutchison Port Holdings Trust</title>
        <cusip>Y3780D104</cusip>
        <identifiers>
          <isin value="SG2D00968206"/>
          <ticker value="HPHT"/>
        </identifiers>
        <balance>1412820.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>223225.560000000000</valUSD>
        <pctVal>0.0360314085</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Proximus SADP</name>
        <lei>549300CWRXC5EP004533</lei>
        <title>Proximus SADP</title>
        <cusip>B6951K109</cusip>
        <identifiers>
          <isin value="BE0003810273"/>
          <ticker value="PROX"/>
        </identifiers>
        <balance>99278.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".907610000000"/>
        <valUSD>2997113.010000000000</valUSD>
        <pctVal>0.4837716752</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CNOOC Ltd</name>
        <lei>549300XIVJCBIGMRUD48</lei>
        <title>CNOOC Ltd</title>
        <cusip>Y1662W117</cusip>
        <identifiers>
          <isin value="HK0883013259"/>
          <ticker value="883"/>
        </identifiers>
        <balance>1829000.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.828200000000"/>
        <valUSD>2654331.070000000000</valUSD>
        <pctVal>0.4284423657</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NCI</name>
        <lei>529900QCDGPLPB62KH67</lei>
        <title>New China Life Insurance Co Ltd</title>
        <cusip>Y625A4115</cusip>
        <identifiers>
          <isin value="CNE100001922"/>
          <ticker value="1336"/>
        </identifiers>
        <balance>654200.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.828200000000"/>
        <valUSD>2519770.050000000000</valUSD>
        <pctVal>0.4067225274</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Parex Resources Inc</name>
        <lei>549300U7LWRGTY6XWK67</lei>
        <title>Parex Resources Inc</title>
        <cusip>69946Q104</cusip>
        <identifiers>
          <isin value="CA69946Q1046"/>
          <ticker value="PXT"/>
        </identifiers>
        <balance>154654.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.328300000000"/>
        <valUSD>2287936.080000000000</valUSD>
        <pctVal>0.3693016134</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>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sino Biopharmaceutical Ltd</name>
        <lei>529900LPR4ADFEJAR786</lei>
        <title>Sino Biopharmaceutical Ltd</title>
        <cusip>G8167W138</cusip>
        <identifiers>
          <isin value="KYG8167W1380"/>
          <ticker value="1177"/>
        </identifiers>
        <balance>2591000.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.828200000000"/>
        <valUSD>3343119.030000000000</valUSD>
        <pctVal>0.5396213917</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>J Sainsbury PLC</name>
        <lei>213800VGZAAJIKJ9Y484</lei>
        <title>J Sainsbury PLC</title>
        <cusip>G77732173</cusip>
        <identifiers>
          <isin value="GB00B019KW72"/>
          <ticker value="SBRY"/>
        </identifiers>
        <balance>764569.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".773220000000"/>
        <valUSD>2119352.430000000000</valUSD>
        <pctVal>0.3420900954</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>GS Holdings Corp</name>
        <lei>N/A</lei>
        <title>GS Holdings Corp</title>
        <cusip>Y2901P103</cusip>
        <identifiers>
          <isin value="KR7078930005"/>
          <ticker value="078930"/>
        </identifiers>
        <balance>34448.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1181.150000000000"/>
        <valUSD>1395535.540000000000</valUSD>
        <pctVal>0.2252569602</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Berkeley Group Holdings PLC</name>
        <lei>2138009OQSSLVVHQAL78</lei>
        <title>Berkeley Group Holdings PLC</title>
        <cusip>G1191G120</cusip>
        <identifiers>
          <isin value="GB00B02L3W35"/>
          <ticker value="BKG"/>
        </identifiers>
        <balance>9650.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".773220000000"/>
        <valUSD>572434.360000000000</valUSD>
        <pctVal>0.0923980939</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>Petronas Chemicals Group Bhd</name>
        <lei>N/A</lei>
        <title>Petronas Chemicals Group Bhd</title>
        <cusip>Y6811G103</cusip>
        <identifiers>
          <isin value="MYL5183OO008"/>
          <ticker value="PCHEM"/>
        </identifiers>
        <balance>1425400.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MYR" exchangeRt="4.176500000000"/>
        <valUSD>2409511.310000000000</valUSD>
        <pctVal>0.3889253822</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>International Consolidated Air</name>
        <lei>959800TZHQRUSH1ESL13</lei>
        <title>International Consolidated Airlines Group SA</title>
        <cusip>E67674106</cusip>
        <identifiers>
          <isin value="ES0177542018"/>
          <ticker value="IAG"/>
        </identifiers>
        <balance>355941.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".773220000000"/>
        <valUSD>2550657.280000000000</valUSD>
        <pctVal>0.4117081142</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>Mowi ASA</name>
        <lei>549300W1OGQF5LZIH349</lei>
        <title>Marine Harvest ASA</title>
        <cusip>R2326D113</cusip>
        <identifiers>
          <isin value="NO0003054108"/>
          <ticker value="MHG"/>
        </identifiers>
        <balance>119853.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="9.220800000000"/>
        <valUSD>2974982.170000000000</valUSD>
        <pctVal>0.4801994797</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SingTel</name>
        <lei>2549003XJKIQO8YDYD89</lei>
        <title>Singapore Telecommunications Ltd</title>
        <cusip>Y79985209</cusip>
        <identifiers>
          <isin value="SG1T75931496"/>
          <ticker value="ST"/>
        </identifiers>
        <balance>1182900.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.367600000000"/>
        <valUSD>2923837.800000000000</valUSD>
        <pctVal>0.4719441362</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fibra Uno Administracion SA de</name>
        <lei>N/A</lei>
        <title>Fibra Uno Administracion SA de CV</title>
        <cusip>P3515D163</cusip>
        <identifiers>
          <isin value="MXCFFU000001"/>
          <ticker value="FUNO11"/>
        </identifiers>
        <balance>2390817.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="19.572500000000"/>
        <valUSD>3677142.860000000000</valUSD>
        <pctVal>0.5935370323</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zhen Ding Technology Holding L</name>
        <lei>N/A</lei>
        <title>Zhen Ding Technology Holding Ltd</title>
        <cusip>G98922100</cusip>
        <identifiers>
          <isin value="KYG989221000"/>
          <ticker value="4958"/>
        </identifiers>
        <balance>821000.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="30.510500000000"/>
        <valUSD>3619229.450000000000</valUSD>
        <pctVal>0.5841890807</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PTT Global Chemical PCL</name>
        <lei>5493007X3230PPPZFF40</lei>
        <title>PTT Global Chemical PCL</title>
        <cusip>Y7150W121</cusip>
        <identifiers>
          <isin value="TH1074010R12"/>
          <ticker value="PTTGC-R"/>
        </identifiers>
        <balance>1398600.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="30.217500000000"/>
        <valUSD>2487788.530000000000</valUSD>
        <pctVal>0.4015603084</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hankook Tire &amp; Technology Co L</name>
        <lei>9884001BIEVM09M7AH02</lei>
        <title>Hankook Tire Co Ltd</title>
        <cusip>Y3R57J108</cusip>
        <identifiers>
          <isin value="KR7161390000"/>
          <ticker value="161390"/>
        </identifiers>
        <balance>82366.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1181.150000000000"/>
        <valUSD>2318646.660000000000</valUSD>
        <pctVal>0.3742586867</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UnipolSai Assicurazioni SpA</name>
        <lei>815600E31C4E7006AB54</lei>
        <title>UnipolSai Assicurazioni SpA</title>
        <cusip>T9647G103</cusip>
        <identifiers>
          <isin value="IT0004827447"/>
          <ticker value="US"/>
        </identifiers>
        <balance>490569.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".907610000000"/>
        <valUSD>1429597.960000000000</valUSD>
        <pctVal>0.2307550625</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PTG Energy PCL</name>
        <lei>N/A</lei>
        <title>PTG Energy PCL</title>
        <cusip>Y708F6127</cusip>
        <identifiers>
          <isin value="TH4547010R14"/>
          <ticker value="PTG-R"/>
        </identifiers>
        <balance>4135000.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="30.217500000000"/>
        <valUSD>2668404.070000000000</valUSD>
        <pctVal>0.4307139246</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Plus500 Ltd</name>
        <lei>549300X8NGW9C5OJZU13</lei>
        <title>Plus500 Ltd</title>
        <cusip>M7S2CK109</cusip>
        <identifiers>
          <isin value="IL0011284465"/>
          <ticker value="PLUS"/>
        </identifiers>
        <balance>93052.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".773220000000"/>
        <valUSD>926788.770000000000</valUSD>
        <pctVal>0.1495953454</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NHN Corp</name>
        <lei>N/A</lei>
        <title>NHN Corp</title>
        <cusip>Y6347N101</cusip>
        <identifiers>
          <isin value="KR7181710005"/>
          <ticker value="181710"/>
        </identifiers>
        <balance>56094.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1181.150000000000"/>
        <valUSD>3215141.010000000000</valUSD>
        <pctVal>0.5189641322</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Koninklijke Ahold Delhaize NV</name>
        <lei>724500C9GNBV20UYRX36</lei>
        <title>Koninklijke Ahold Delhaize NV</title>
        <cusip>N0074E105</cusip>
        <identifiers>
          <isin value="NL0011794037"/>
          <ticker value="AD"/>
        </identifiers>
        <balance>118618.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".907610000000"/>
        <valUSD>3058472.830000000000</valUSD>
        <pctVal>0.4936759207</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASR Nederland NV</name>
        <lei>7245000G0HS48PZWUD53</lei>
        <title>ASR Nederland NV</title>
        <cusip>N0709G103</cusip>
        <identifiers>
          <isin value="NL0011872643"/>
          <ticker value="ASRNL"/>
        </identifiers>
        <balance>26462.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".907610000000"/>
        <valUSD>984137.230000000000</valUSD>
        <pctVal>0.1588521069</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Genting Singapore Ltd</name>
        <lei>254900Y2N3AK93K1O866</lei>
        <title>Genting Singapore Ltd</title>
        <cusip>Y2692C139</cusip>
        <identifiers>
          <isin value="SGXE21576413"/>
          <ticker value="GENS"/>
        </identifiers>
        <balance>4451800.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.367600000000"/>
        <valUSD>3011382.500000000000</valUSD>
        <pctVal>0.4860749501</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Royal Mail PLC</name>
        <lei>213800TCZZU84G8Z2M70</lei>
        <title>Royal Mail PLC</title>
        <cusip>G7368G108</cusip>
        <identifiers>
          <isin value="GB00BDVZYZ77"/>
          <ticker value="RMG"/>
        </identifiers>
        <balance>543517.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt=".773220000000"/>
        <valUSD>1465829.710000000000</valUSD>
        <pctVal>0.2366033219</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>iA Financial Corp Inc</name>
        <lei>549300ZXLJVHQAIXV215</lei>
        <title>iA Financial Corp Inc</title>
        <cusip>45075E104</cusip>
        <identifiers>
          <isin value="CA45075E1043"/>
          <ticker value="IAG"/>
        </identifiers>
        <balance>42820.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.328300000000"/>
        <valUSD>2192177.680000000000</valUSD>
        <pctVal>0.3538450052</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>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Aoyuan Group Ltd</name>
        <lei>549300YSOKQO5QD6MP25</lei>
        <title>China Aoyuan Group Ltd</title>
        <cusip>G2119Z109</cusip>
        <identifiers>
          <isin value="KYG2119Z1090"/>
          <ticker value="3883"/>
        </identifiers>
        <balance>2264000.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.828200000000"/>
        <valUSD>3239347.190000000000</valUSD>
        <pctVal>0.5228713137</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Boliden AB</name>
        <lei>21380059QU7IM1ONDJ56</lei>
        <title>Boliden AB</title>
        <cusip>W17218152</cusip>
        <identifiers>
          <isin value="SE0012455673"/>
          <ticker value="BOL"/>
        </identifiers>
        <balance>127870.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.576350000000"/>
        <valUSD>3299560.700000000000</valUSD>
        <pctVal>0.5325905303</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>Helvetia Holding AG</name>
        <lei>529900SUJBXTORH0LT80</lei>
        <title>Helvetia Holding AG</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CH0466642201"/>
          <ticker value="HELN"/>
        </identifiers>
        <balance>14439.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt=".999750000000"/>
        <valUSD>1972205.430000000000</valUSD>
        <pctVal>0.3183387218</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WH Group Ltd</name>
        <lei>254900A4AYEDRWYSE928</lei>
        <title>WH Group Ltd</title>
        <cusip>G96007102</cusip>
        <identifiers>
          <isin value="KYG960071028"/>
          <ticker value="288"/>
        </identifiers>
        <balance>2948500.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.828200000000"/>
        <valUSD>3028448.790000000000</valUSD>
        <pctVal>0.4888296636</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fiat Chrysler Automobiles NV</name>
        <lei>549300LKT9PW7ZIBDF31</lei>
        <title>Fiat Chrysler Automobiles NV</title>
        <cusip>N31738102</cusip>
        <identifiers>
          <isin value="NL0010877643"/>
          <ticker value="FCA"/>
        </identifiers>
        <balance>220935.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".907610000000"/>
        <valUSD>3269141.300000000000</valUSD>
        <pctVal>0.5276804571</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>Globalwafers Co Ltd</name>
        <lei>529900V6RTNF3U5EGX67</lei>
        <title>Globalwafers Co Ltd</title>
        <cusip>Y2722U109</cusip>
        <identifiers>
          <isin value="TW0006488000"/>
          <ticker value="6488"/>
        </identifiers>
        <balance>143000.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="30.510500000000"/>
        <valUSD>1551367.560000000000</valUSD>
        <pctVal>0.2504102050</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Air Canada</name>
        <lei>4B4HI3CGXMBDC0G6BM51</lei>
        <title>Air Canada</title>
        <cusip>008911877</cusip>
        <identifiers>
          <isin value="CA0089118776"/>
          <ticker value="AC"/>
        </identifiers>
        <balance>90620.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.328300000000"/>
        <valUSD>3414666.670000000000</valUSD>
        <pctVal>0.5511700793</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>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hella GmbH &amp; Co KGaA</name>
        <lei>529900PLX4ADJFWIY024</lei>
        <title>Hella GmbH and Co KGaA</title>
        <cusip>D3R112160</cusip>
        <identifiers>
          <isin value="DE000A13SX22"/>
          <ticker value="HLE"/>
        </identifiers>
        <balance>28480.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".907610000000"/>
        <valUSD>1538067.590000000000</valUSD>
        <pctVal>0.2482634229</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AGL Energy Ltd</name>
        <lei>549300QAZ8A74DEDXO80</lei>
        <title>AGL Energy Ltd</title>
        <cusip>Q01630195</cusip>
        <identifiers>
          <isin value="AU000000AGL7"/>
          <ticker value="AGL"/>
        </identifiers>
        <balance>210436.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.478420000000"/>
        <valUSD>2905127.610000000000</valUSD>
        <pctVal>0.4689240766</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wal-Mart de Mexico SAB de CV</name>
        <lei>N/A</lei>
        <title>Wal-Mart de Mexico SAB de CV</title>
        <cusip>P98180188</cusip>
        <identifiers>
          <isin value="MX01WA000038"/>
          <ticker value="WALMEX*"/>
        </identifiers>
        <balance>1054126.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="19.572500000000"/>
        <valUSD>2911809.940000000000</valUSD>
        <pctVal>0.4700026886</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>South32 Ltd</name>
        <lei>213800LAZNPXSBKVHR17</lei>
        <title>South32 Ltd</title>
        <cusip>Q86668102</cusip>
        <identifiers>
          <isin value="AU000000S320"/>
          <ticker value="S32"/>
        </identifiers>
        <balance>1215121.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.478420000000"/>
        <valUSD>2219143.880000000000</valUSD>
        <pctVal>0.3581976885</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EXOR NV</name>
        <lei>5493002ENHZ6NYET7405</lei>
        <title>EXOR NV</title>
        <cusip>N3140A107</cusip>
        <identifiers>
          <isin value="NL0012059018"/>
          <ticker value="EXO"/>
        </identifiers>
        <balance>43141.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".907610000000"/>
        <valUSD>3303060.850000000000</valUSD>
        <pctVal>0.5331554985</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dometic Group AB</name>
        <lei>549300STIPMK5VSA7Y59</lei>
        <title>Dometic Group AB</title>
        <cusip>W2R936106</cusip>
        <identifiers>
          <isin value="SE0007691613"/>
          <ticker value="DOM"/>
        </identifiers>
        <balance>51283.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.576350000000"/>
        <valUSD>513786.320000000000</valUSD>
        <pctVal>0.0829315638</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>Covestro AG</name>
        <lei>3912005AWHKLQ1CPLV11</lei>
        <title>Covestro AG</title>
        <cusip>D15349109</cusip>
        <identifiers>
          <isin value="DE0006062144"/>
          <ticker value="1COV"/>
        </identifiers>
        <balance>63313.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".907610000000"/>
        <valUSD>2966869.730000000000</valUSD>
        <pctVal>0.4788900301</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tatneft PJSC</name>
        <lei>253400PAT768SVJMV121</lei>
        <title>Tatneft PJSC</title>
        <cusip>876629205</cusip>
        <identifiers>
          <isin value="US8766292051"/>
          <ticker value="OAOFY"/>
        </identifiers>
        <balance>27996.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1930604.160000000000</valUSD>
        <pctVal>0.3116237544</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>RU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Signify NV</name>
        <lei>549300072P3J1X8NZO35</lei>
        <title>Signify NV</title>
        <cusip>N3577R102</cusip>
        <identifiers>
          <isin value="NL0011821392"/>
          <ticker value="LIGHT"/>
        </identifiers>
        <balance>99843.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".907610000000"/>
        <valUSD>2980043.010000000000</valUSD>
        <pctVal>0.4810163629</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LUKOIL PJSC</name>
        <lei>549300LCJ1UJXHYBWI24</lei>
        <title>LUKOIL PJSC</title>
        <cusip>69343P105</cusip>
        <identifiers>
          <isin value="US69343P1057"/>
          <ticker value="LUKOY"/>
        </identifiers>
        <balance>37161.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3543672.960000000000</valUSD>
        <pctVal>0.5719933144</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>RU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BOC Aviation Ltd</name>
        <lei>254900H06V5RMEB3KE72</lei>
        <title>BOC Aviation Ltd</title>
        <cusip>Y09292106</cusip>
        <identifiers>
          <isin value="SG9999015267"/>
          <ticker value="2588"/>
        </identifiers>
        <balance>338800.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.828200000000"/>
        <valUSD>3200697.520000000000</valUSD>
        <pctVal>0.5166327716</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Schaeffler AG</name>
        <lei>549300Q7E782X7GC1P43</lei>
        <title>Schaeffler AG</title>
        <cusip>D6T0B6130</cusip>
        <identifiers>
          <isin value="DE000SHA0159"/>
          <ticker value="SHA"/>
        </identifiers>
        <balance>172571.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".907610000000"/>
        <valUSD>1887159.360000000000</valUSD>
        <pctVal>0.3046112182</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Banco Comercial Portugues SA</name>
        <lei>JU1U6S0DG9YLT7N8ZV32</lei>
        <title>Banco Comercial Portugues SA</title>
        <cusip>X03188319</cusip>
        <identifiers>
          <isin value="PTBCP0AM0015"/>
          <ticker value="BCP"/>
        </identifiers>
        <balance>6577631.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".907610000000"/>
        <valUSD>1421484.840000000000</valUSD>
        <pctVal>0.2294455031</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="673609.910000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Adient PLC</name>
        <lei>5493002QLDY8O75RTR78</lei>
        <title>Adient PLC</title>
        <cusip>G0084W101</cusip>
        <identifiers>
          <isin value="IE00BD845X29"/>
          <ticker value="ADNT"/>
        </identifiers>
        <balance>5050.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>110393.000000000000</valUSD>
        <pctVal>0.0178188164</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ICON PLC</name>
        <lei>6354008SRQGEMC4XFI67</lei>
        <title>ICON PLC</title>
        <cusip>G4705A100</cusip>
        <identifiers>
          <isin value="IE0005711209"/>
          <ticker value="ICLR"/>
        </identifiers>
        <balance>5685.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>927564.600000000000</valUSD>
        <pctVal>0.1497205741</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Medtronic PLC</name>
        <lei>549300GX3ZBSQWUXY261</lei>
        <title>Medtronic PLC</title>
        <cusip>G5960L103</cusip>
        <identifiers>
          <isin value="IE00BTN1Y115"/>
          <ticker value="MDT"/>
        </identifiers>
        <balance>30015.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3343370.850000000000</valUSD>
        <pctVal>0.5396620386</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Perrigo Co PLC</name>
        <lei>549300IFOQS6R1QLY196</lei>
        <title>Perrigo Co PLC</title>
        <cusip>G97822103</cusip>
        <identifiers>
          <isin value="IE00BGH1M568"/>
          <ticker value="PRGO"/>
        </identifiers>
        <balance>56646.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2901974.580000000000</valUSD>
        <pctVal>0.4684151379</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chubb Ltd</name>
        <lei>E0JAN6VLUDI1HITHT809</lei>
        <title>Chubb Ltd</title>
        <cusip>H1467J104</cusip>
        <identifiers>
          <isin value="CH0044328745"/>
          <ticker value="CB"/>
        </identifiers>
        <balance>20785.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3148511.800000000000</valUSD>
        <pctVal>0.5082093411</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Garmin Ltd</name>
        <lei>2549001E0HIPIJQ0W046</lei>
        <title>Garmin Ltd</title>
        <cusip>H2906T109</cusip>
        <identifiers>
          <isin value="CH0114405324"/>
          <ticker value="GRMN"/>
        </identifiers>
        <balance>37946.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3706944.740000000000</valUSD>
        <pctVal>0.5983474300</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC SECURITIES USA INC REPO.</name>
        <lei>N/A</lei>
        <title>HSBC SECURITIES USA INC REPO. SLRPA 1.63% 12/02/2019</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="1905325527"/>
        </identifiers>
        <balance>545305</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>545305</valUSD>
        <pctVal>0.0880190745</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="CYYGQCGNHMHPSMRL3R97" name="HSBC SECURITIES USA INC REPO."/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>1.63</repurchaseRt>
          <maturityDt>2019-12-02</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>545305</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>556211.11</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="556211.110000000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DAIWA CAPITAL MARKETS AMERICA REPO</name>
        <lei>N/A</lei>
        <title>DAIWA CAPITAL MARKETS AMERICA REPO SLRPD 1.64% 12/02/2019</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="1905325590"/>
        </identifiers>
        <balance>1841715</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1841715</valUSD>
        <pctVal>0.2972759278</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="M67H5PRC0NQKM73ZAS82" name="DAIWA CAPITAL MARKETS AMERICA REPO"/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>1.64</repurchaseRt>
          <maturityDt>2019-12-02</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>1841715</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>1878549.32</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>AMBS</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="1878549.320000000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS &amp; CO LLC REPO</name>
        <lei>N/A</lei>
        <title>GOLDMAN SACHS &amp; CO LLC REPO SLRPD 1.62% 12/02/2019</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="1905325592"/>
        </identifiers>
        <balance>1841715</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1841715</valUSD>
        <pctVal>0.2972759278</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="FOR8UP27PHTHYVLBNG30" name="GOLDMAN SACHS &amp; CO LLC REPO"/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>1.62</repurchaseRt>
          <maturityDt>2019-12-02</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>1841715</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>1878549.30</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>AMBS</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="1878549.300000000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MUFG SECURITIES AMERICA INC REPO</name>
        <lei>N/A</lei>
        <title>MUFG SECURITIES AMERICA INC REPO SLRPD 1.65% 12/02/2019</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="1905325598"/>
        </identifiers>
        <balance>1841715</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1841715</valUSD>
        <pctVal>0.2972759278</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="K5HU16E3LMSVCCJJJ255" name="MUFG SECURITIES AMERICA INC REPO"/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>1.65</repurchaseRt>
          <maturityDt>2019-12-02</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>1841715</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>1878549.30</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>AMBS</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="1878549.300000000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CITIGROUP GLOBAL MARKETS INC REPO</name>
        <lei>N/A</lei>
        <title>CITIGROUP GLOBAL MARKETS INC REPO SLRPD 1.65% 12/02/2019</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="1905325602"/>
        </identifiers>
        <balance>1841715</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1841715</valUSD>
        <pctVal>0.2972759278</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="MBNUM2BPBDO7JBLYG310" name="CITIGROUP GLOBAL MARKETS INC REPO"/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>1.65</repurchaseRt>
          <maturityDt>2019-12-02</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>1841715</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>1878549.30</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>AMBS</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="1878549.300000000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2019-12-27</ncom:dateSigned>
      <ncom:nameOfApplicant>ETF Series Solutions</ncom:nameOfApplicant>
      <ncom:signature>Kristen Weitzel</ncom:signature>
      <ncom:signerName>ETF Series Solutions</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
