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                <lei>5493001NTNQJDH60PM02</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>01609W102</cusip>
                <identifiers>
                    <isin value="US01609W1027"/>
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                <balance>6855</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>580549.95</valUSD>
                <pctVal>3.143340097340</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>PDD HOLDINGS INC</name>
                <lei>5493000573DS7005T657</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="US7223041028"/>
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                <balance>993</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>67672.95</valUSD>
                <pctVal>0.366409638379</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>ASE TECHNOLOGY HOLDING CO LTD</name>
                <lei>300300GO8QHPMV87NZ73</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>00215W100</cusip>
                <identifiers>
                    <isin value="US00215W1009"/>
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                <balance>22261</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>152710.46</valUSD>
                <pctVal>0.826838262929</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>TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD</name>
                <lei>549300KB6NK5SBD14S87</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>874039100</cusip>
                <identifiers>
                    <isin value="US8740391003"/>
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                <balance>15093</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>1272339.9</valUSD>
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                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TW</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
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                    <isLoanByFund>N</isLoanByFund>
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            <invstOrSec>
                <name>COCA-COLA FEMSA SAB DE CV</name>
                <lei>5493008KEVFYPMGTXO33</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>191241108</cusip>
                <identifiers>
                    <isin value="US1912411089"/>
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                <balance>1159</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>97842.78</valUSD>
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                <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>
                <name>BAIDU INC</name>
                <lei>254900AL64IANZYI1E02</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>056752108</cusip>
                <identifiers>
                    <isin value="US0567521085"/>
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                <balance>449</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>54153.89</valUSD>
                <pctVal>0.293211796614</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
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            </invstOrSec>
            <invstOrSec>
                <name>FOMENTO ECONOMICO MEXICANO SAB DE CV</name>
                <lei>549300A8MDWDJNMLV153</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>344419106</cusip>
                <identifiers>
                    <isin value="US3444191064"/>
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                <balance>3428</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>332584.56</valUSD>
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                <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>
                <name>ICICI BANK LTD</name>
                <lei>R7RX8ER1V4666J8D1I38</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>45104G104</cusip>
                <identifiers>
                    <isin value="US45104G1040"/>
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                <balance>64129</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>1458934.75</valUSD>
                <pctVal>7.899282566604</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>DR REDDY'S LABORATORIES LTD</name>
                <lei>335800OVDPY3DVZR2798</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>256135203</cusip>
                <identifiers>
                    <isin value="US2561352038"/>
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                <balance>4895</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>295951.7</valUSD>
                <pctVal>1.602406210673</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>GERDAU SA</name>
                <lei>254900YDV6SEQQPZVG24</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>373737105</cusip>
                <identifiers>
                    <isin value="US3737371050"/>
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                <balance>29513</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>147269.87</valUSD>
                <pctVal>0.797380634519</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>GOLD FIELDS LTD</name>
                <lei>5299003KXIBJQYCBBD72</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>38059T106</cusip>
                <identifiers>
                    <isin value="US38059T1060"/>
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                <balance>21523</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>334897.88</valUSD>
                <pctVal>1.813277108573</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>INFOSYS LTD</name>
                <lei>335800TYLGG93MM7PR89</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>456788108</cusip>
                <identifiers>
                    <isin value="US4567881085"/>
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                <balance>43297</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>672835.38</valUSD>
                <pctVal>3.643011990378</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>BANGKOK DUSIT MEDICAL SERVICES PCL</name>
                <lei>N/A</lei>
                <title>GLOBAL DEPOSITORY RECEIPT</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TH0264010R10"/>
                </identifiers>
                <balance>234800</balance>
                <units>NS</units>
                <currencyConditional curCd="THB" exchangeRt=".029284721"/>
                <valUSD>201611.65</valUSD>
                <pctVal>1.091609746131</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TH</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>LAND  AND  HOUSES PCL</name>
                <lei>529900O7AEACUWP7KS87</lei>
                <title>GLOBAL DEPOSITORY RECEIPT</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TH0143010R16"/>
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                <balance>231800</balance>
                <units>NS</units>
                <currencyConditional curCd="THB" exchangeRt=".029284721"/>
                <valUSD>66666.24</valUSD>
                <pctVal>0.360958889637</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TH</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
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            </invstOrSec>
            <invstOrSec>
                <name>HOME PRODUCT CENTER PCL</name>
                <lei>N/A</lei>
                <title>GLOBAL DEPOSITORY RECEIPT</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TH0661010R17"/>
                </identifiers>
                <balance>161900</balance>
                <units>NS</units>
                <currencyConditional curCd="THB" exchangeRt=".029284721"/>
                <valUSD>66477.51</valUSD>
                <pctVal>0.359937026529</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TH</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
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            </invstOrSec>
            <invstOrSec>
                <name>CMOC GROUP LTD</name>
                <lei>2549008KG3638J59U652</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE100000114"/>
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                <balance>189000</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127394215"/>
                <valUSD>115802.72</valUSD>
                <pctVal>0.627004331250</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>RAIA DROGASIL SA</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="BRRADLACNOR0"/>
                </identifiers>
                <balance>24000</balance>
                <units>NS</units>
                <currencyConditional curCd="BRL" exchangeRt=".200489194"/>
                <valUSD>126452.54</valUSD>
                <pctVal>0.684666908321</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>JARIR MARKETING CO</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="SA000A0BLA62"/>
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                <balance>1247</balance>
                <units>NS</units>
                <currencyConditional curCd="SAR" exchangeRt=".266616898"/>
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                <pctVal>0.294326679424</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>SA</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
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            </invstOrSec>
            <invstOrSec>
                <name>MOBILE TELECOMMUNICATIONS CO SAUDI ARABIA</name>
                <lei>254900XHCET9KD2D4R78</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="SA121053DR18"/>
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                <balance>8790</balance>
                <units>NS</units>
                <currencyConditional curCd="SAR" exchangeRt=".266616898"/>
                <valUSD>35198.63</valUSD>
                <pctVal>0.190580095736</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>SA</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CELLTRION INC</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7068270008"/>
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                <balance>2345</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000747161"/>
                <valUSD>282730.45</valUSD>
                <pctVal>1.530820836733</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>KR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>SINOPHARM GROUP CO</name>
                <lei>529900N54X78YH9JYK92</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE100000FN7"/>
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                <balance>33600</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127394215"/>
                <valUSD>119040.36</valUSD>
                <pctVal>0.644534267533</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CHINA PACIFIC INSURANCE GROUP CO LTD</name>
                <lei>529900BA5ILEL308WX03</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE1000009Q7"/>
                </identifiers>
                <balance>35200</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127394215"/>
                <valUSD>105307.83</valUSD>
                <pctVal>0.570180609959</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>AGRICULTURAL BANK OF CHINA LTD</name>
                <lei>549300E7TSGLCOVSY746</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE100000Q43"/>
                </identifiers>
                <balance>300000</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127394215"/>
                <valUSD>115645.56</valUSD>
                <pctVal>0.626153401318</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CHINA MEDICAL SYSTEM HOLDINGS LTD</name>
                <lei>529900Z57DVJXUBLHX66</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KYG211081248"/>
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                <balance>38000</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127394215"/>
                <valUSD>63100.58</valUSD>
                <pctVal>0.341652915963</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>HK</invCountry>

                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CITIC SECURITIES CO</name>
                <lei>300300E1006744000068</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE1000016V2"/>
                </identifiers>
                <balance>64500</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127394215"/>
                <valUSD>135670.57</valUSD>
                <pctVal>0.734577175849</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CHOW TAI FOOK JEWELLERY GROUP LTD</name>
                <lei>254900VXRL7SRSF44G79</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KYG211461085"/>
                </identifiers>
                <balance>50400</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127394215"/>
                <valUSD>101274.14</valUSD>
                <pctVal>0.548340526230</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>HK</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>VOLTRONIC POWER TECHNOLOGY CORP</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TW0006409006"/>
                </identifiers>
                <balance>731</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".032528259"/>
                <valUSD>41923.88</valUSD>
                <pctVal>0.226993410369</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TW</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>SAMSUNG SDS CO LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7018260000"/>
                </identifiers>
                <balance>905</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000747161"/>
                <valUSD>79653.31</valUSD>
                <pctVal>0.431276315171</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>KR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>SAMSUNG C AND T CORP</name>
                <lei>988400GFRE4IDFPE9E64</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7028260008"/>
                </identifiers>
                <balance>1999</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000747161"/>
                <valUSD>164292.26</valUSD>
                <pctVal>0.889546969284</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>KR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>KWEICHOW MOUTAI CO LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE0000018R8"/>
                </identifiers>
                <balance>300</balance>
                <units>NS</units>
                <currencyConditional curCd="CNY" exchangeRt=".144337635"/>
                <valUSD>76551.75</valUSD>
                <pctVal>0.414483172889</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>OFFSHORE OIL ENGINEERING CO LT</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE0000019T2"/>
                </identifiers>
                <balance>93100</balance>
                <units>NS</units>
                <currencyConditional curCd="CNY" exchangeRt=".144337635"/>
                <valUSD>90494.77</valUSD>
                <pctVal>0.489976511307</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>HUATAI SECURITIES CO LTD</name>
                <lei>3003009ABT0UCWO79Q77</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE100001YQ9"/>
                </identifiers>
                <balance>44200</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127394215"/>
                <valUSD>57101.33</valUSD>
                <pctVal>0.309170468795</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>DOOSAN BOBCAT INC</name>
                <lei>9884007K6X0Q0112FX44</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7241560002"/>
                </identifiers>
                <balance>1565</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000747161"/>
                <valUSD>60077.74</valUSD>
                <pctVal>0.325285996665</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>KR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>WUXI BIOLOGICS CAYMAN INC</name>
                <lei>5493001TD2TH6VDTJU11</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KYG970081173"/>
                </identifiers>
                <balance>10899</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127394215"/>
                <valUSD>65196.3</valUSD>
                <pctVal>0.353000020047</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>NEPI ROCKCASTLE NV</name>
                <lei>549300FMWM53K9ULYT15</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="NL0015000RT3"/>
                </identifiers>
                <balance>12259</balance>
                <units>NS</units>
                <currencyConditional curCd="ZAR" exchangeRt=".054667213"/>
                <valUSD>74061.41</valUSD>
                <pctVal>0.400999431175</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>NL</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CELLTRION HEALTHCARE CO LTD</name>
                <lei>988400KI4VU01I1E7I73</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7091990002"/>
                </identifiers>
                <balance>1608</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000747161"/>
                <valUSD>83879.92</valUSD>
                <pctVal>0.454160948421</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>KR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ABU DHABI NATIONAL OIL CO FOR DISTRIBUTION PJSC</name>
                <lei>213800YI1ZIOJB3HLB11</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="AEA006101017"/>
                </identifiers>
                <balance>68374</balance>
                <units>NS</units>
                <currencyConditional curCd="AED" exchangeRt=".272308907"/>
                <valUSD>81747.86</valUSD>
                <pctVal>0.442617084387</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>AE</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>XIAOMI CORP</name>
                <lei>2549001ACVFAZRNMKL32</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KYG9830T1067"/>
                </identifiers>
                <balance>51800</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127394215"/>
                <valUSD>73482.63</valUSD>
                <pctVal>0.397865674327</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>MEITUAN</name>
                <lei>21380033K525E5JLIA77</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KYG596691041"/>
                </identifiers>
                <balance>15300</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127394215"/>
                <valUSD>261113.94</valUSD>
                <pctVal>1.413780015960</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>FOXCONN INDUSTRIAL INTERNET CO LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE1000031P3"/>
                </identifiers>
                <balance>11800</balance>
                <units>NS</units>
                <currencyConditional curCd="CNY" exchangeRt=".144337635"/>
                <valUSD>27512.79</valUSD>
                <pctVal>0.148965745319</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ZHEFU HOLDING GROUP CO LTD</name>
                <lei>30030076Y21FIWN1VY24</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE100000CL8"/>
                </identifiers>
                <balance>47300</balance>
                <units>NS</units>
                <currencyConditional curCd="CNY" exchangeRt=".144337635"/>
                <valUSD>26115.36</valUSD>
                <pctVal>0.141399475178</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>DR SULAIMAN AL HABIB MEDICAL SERVICES GROUP CO</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="SA1510P1UMH1"/>
                </identifiers>
                <balance>1974</balance>
                <units>NS</units>
                <currencyConditional curCd="SAR" exchangeRt=".266616898"/>
                <valUSD>151257.81</valUSD>
                <pctVal>0.818973008625</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>SA</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>TIM SA/BRAZIL</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="BRTIMSACNOR5"/>
                </identifiers>
                <balance>25800</balance>
                <units>NS</units>
                <currencyConditional curCd="BRL" exchangeRt=".200489194"/>
                <valUSD>72416.7</valUSD>
                <pctVal>0.392094283751</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>ELM CO</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="SA15GG53GHH3"/>
                </identifiers>
                <balance>515</balance>
                <units>NS</units>
                <currencyConditional curCd="SAR" exchangeRt=".266616898"/>
                <valUSD>60888.69</valUSD>
                <pctVal>0.329676818940</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>SA</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>TURKIYE PETROL RAFINERILERI AS</name>
                <lei>789000RCNG97UV50EE03</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TRATUPRS91E8"/>
                </identifiers>
                <balance>6916</balance>
                <units>NS</units>
                <currencyConditional curCd="TRY" exchangeRt=".051409917"/>
                <valUSD>23546.96</valUSD>
                <pctVal>0.127493083995</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ABSA GROUP LTD</name>
                <lei>2138006IPPRD4N6XLT30</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="ZAE000255915"/>
                </identifiers>
                <balance>18263</balance>
                <units>NS</units>
                <currencyConditional curCd="ZAR" exchangeRt=".054667213"/>
                <valUSD>177606.07</valUSD>
                <pctVal>0.961633501755</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>ZA</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CHINA RESOURCES LAND LTD</name>
                <lei>5299001HL0TU7X15HK51</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KYG2108Y1052"/>
                </identifiers>
                <balance>18472</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127394215"/>
                <valUSD>86127.94</valUSD>
                <pctVal>0.466332668366</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>HK</invCountry>

                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>NESTLE MALAYSIA BHD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="MYL4707OO005"/>
                </identifiers>
                <balance>1847</balance>
                <units>NS</units>
                <currencyConditional curCd="MYR" exchangeRt=".224190113"/>
                <valUSD>56089.21</valUSD>
                <pctVal>0.303690428052</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>MY</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>SAMSUNG FIRE  AND  MARINE INSURANCE CO LTD</name>
                <lei>988400JMBDK47EW0Z936</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7000810002"/>
                </identifiers>
                <balance>639</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000747161"/>
                <valUSD>107678.17</valUSD>
                <pctVal>0.583014621514</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>KR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>METROPOLITAN BANK  AND  TRUST CO</name>
                <lei>549300SQYI82RVWFN715</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="PHY6028G1361"/>
                </identifiers>
                <balance>32530</balance>
                <units>NS</units>
                <currencyConditional curCd="PHP" exchangeRt=".01805543"/>
                <valUSD>34441.61</valUSD>
                <pctVal>0.186481273024</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>PH</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</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>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TRAYKBNK91N6"/>
                </identifiers>
                <balance>58888</balance>
                <units>NS</units>
                <currencyConditional curCd="TRY" exchangeRt=".051409917"/>
                <valUSD>28627.73</valUSD>
                <pctVal>0.155002496520</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ANGLO AMERICAN PLATINUM LTD</name>
                <lei>529900RORCZ0E5S5FX81</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="ZAE000013181"/>
                </identifiers>
                <balance>1345</balance>
                <units>NS</units>
                <currencyConditional curCd="ZAR" exchangeRt=".054667213"/>
                <valUSD>79961.69</valUSD>
                <pctVal>0.432946013393</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>ZA</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>LENOVO GROUP LTD</name>
                <lei>254900VUZRGD5U73RE46</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y5257Y107</cusip>
                <identifiers>
                    <isin value="HK0992009065"/>
                </identifiers>
                <balance>177065</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127394215"/>
                <valUSD>181651.12</valUSD>
                <pctVal>0.983535093273</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>NASPERS LTD</name>
                <lei>21380044BQ8812EEKT59</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="ZAE000015889"/>
                </identifiers>
                <balance>669</balance>
                <units>NS</units>
                <currencyConditional curCd="ZAR" exchangeRt=".054667213"/>
                <valUSD>119491.64</valUSD>
                <pctVal>0.646977686087</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>ZA</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>SAMSUNG ELECTRONICS CO LTD</name>
                <lei>9884007ER46L6N7EI764</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7005930003"/>
                </identifiers>
                <balance>19075</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000747161"/>
                <valUSD>939794.57</valUSD>
                <pctVal>5.088440633133</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>KR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ORANGE POLSKA SA</name>
                <lei>259400TOMPUOLS65II22</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="PLTLKPL00017"/>
                </identifiers>
                <balance>8155</balance>
                <units>NS</units>
                <currencyConditional curCd="PLN" exchangeRt=".240263329"/>
                <valUSD>14230.22</valUSD>
                <pctVal>0.077048359267</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>PL</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>TELKOM INDONESIA PERSERO TBK PT</name>
                <lei>529900M5SQZAOKV1PC81</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="ID1000129000"/>
                </identifiers>
                <balance>1155200</balance>
                <units>NS</units>
                <currencyConditional curCd="IDR" exchangeRt=".000068166"/>
                <valUSD>333864.18</valUSD>
                <pctVal>1.807680224690</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>ID</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CIA ENERGETICA DE MINAS GERAIS</name>
                <lei>254900W703PXLDSEM056</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="BRCMIGACNPR3"/>
                </identifiers>
                <balance>38000</balance>
                <units>NS</units>
                <currencyConditional curCd="BRL" exchangeRt=".200489194"/>
                <valUSD>94089.58</valUSD>
                <pctVal>0.509440315266</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>TAIWAN MOBILE CO LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TW0003045001"/>
                </identifiers>
                <balance>22893</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".032528259"/>
                <valUSD>77283.54</valUSD>
                <pctVal>0.418445389835</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TW</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>MOL HUNGARIAN OIL  AND  GAS PLC</name>
                <lei>213800R83KX5FQFGXS67</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="HU0000153937"/>
                </identifiers>
                <balance>8827</balance>
                <units>NS</units>
                <currencyConditional curCd="HUF" exchangeRt=".002953759"/>
                <valUSD>71548.4</valUSD>
                <pctVal>0.387392944605</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>HU</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>KALBE FARMA TBK PT</name>
                <lei>529900PRQI8S32HOE387</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="ID1000125107"/>
                </identifiers>
                <balance>567000</balance>
                <units>NS</units>
                <currencyConditional curCd="IDR" exchangeRt=".000068166"/>
                <valUSD>82070.33</valUSD>
                <pctVal>0.444363071758</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>ID</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>HYUNDAI MOBIS</name>
                <lei>988400HJA9E0ZVDHRS65</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7012330007"/>
                </identifiers>
                <balance>1444</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000747161"/>
                <valUSD>235705.03</valUSD>
                <pctVal>1.276205556376</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>KR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>JIANGSU EXPRESSWAY CO LTD</name>
                <lei>529900UWWTWZ6AKLYD43</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE1000003J5"/>
                </identifiers>
                <balance>38944</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127394215"/>
                <valUSD>39460.2</valUSD>
                <pctVal>0.213654017039</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>EREGLI DEMIR VE CELIK FABRIKALARI TAS</name>
                <lei>789000VYQF5IDGG49908</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TRAEREGL91G3"/>
                </identifiers>
                <balance>19413</balance>
                <units>NS</units>
                <currencyConditional curCd="TRY" exchangeRt=".051409917"/>
                <valUSD>33042.92</valUSD>
                <pctVal>0.178908180716</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</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>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="MXP370841019"/>
                </identifiers>
                <balance>22000</balance>
                <units>NS</units>
                <currencyConditional curCd="MXN" exchangeRt=".055618899"/>
                <valUSD>107592.54</valUSD>
                <pctVal>0.582550984901</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>ZHEJIANG EXPRESSWAY</name>
                <lei>213800X1ZRKM85U9H438</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE1000004S4"/>
                </identifiers>
                <balance>26000</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127394215"/>
                <valUSD>21556.34</valUSD>
                <pctVal>0.116715035242</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>SK TELECOM CO LTD</name>
                <lei>9884003WEA1PHW006037</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7017670001"/>
                </identifiers>
                <balance>349</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000747161"/>
                <valUSD>12427.86</valUSD>
                <pctVal>0.067289628846</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>KR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>BANCO DE CHILE</name>
                <lei>8B4EZFY8IHJC44TT2K84</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CLP0939W1081"/>
                </identifiers>
                <balance>941017</balance>
                <units>NS</units>
                <currencyConditional curCd="CLP" exchangeRt=".001238774"/>
                <valUSD>100192.52</valUSD>
                <pctVal>0.542484183436</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CL</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>EMPRESAS COPEC SA</name>
                <lei>549300Q3IDJYG6Z7PA50</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CLP7847L1080"/>
                </identifiers>
                <balance>10443</balance>
                <units>NS</units>
                <currencyConditional curCd="CLP" exchangeRt=".001238774"/>
                <valUSD>72664.39</valUSD>
                <pctVal>0.393435380945</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CL</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>GRUPO BIMBO SAB DE CV</name>
                <lei>5493000RIXURZEBFEV60</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="MXP495211262"/>
                </identifiers>
                <balance>31900</balance>
                <units>NS</units>
                <currencyConditional curCd="MXN" exchangeRt=".055618899"/>
                <valUSD>171214.44</valUSD>
                <pctVal>0.927026545254</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>GRUPO FINANCIERO BANORTE SAB DE CV</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>P49501201</cusip>
                <identifiers>
                    <isin value="MXP370711014"/>
                </identifiers>
                <balance>22000</balance>
                <units>NS</units>
                <currencyConditional curCd="MXN" exchangeRt=".055618899"/>
                <valUSD>190663.81</valUSD>
                <pctVal>1.032333564209</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>AKBANK TAS</name>
                <lei>789000TUMN63Z28TJ497</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TRAAKBNK91N6"/>
                </identifiers>
                <balance>85131</balance>
                <units>NS</units>
                <currencyConditional curCd="TRY" exchangeRt=".051409917"/>
                <valUSD>70147.9</valUSD>
                <pctVal>0.379810052200</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>DELTA ELECTRONICS INC</name>
                <lei>529900UVZWNWGDLJSM52</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TW0002308004"/>
                </identifiers>
                <balance>30000</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".032528259"/>
                <valUSD>294773.75</valUSD>
                <pctVal>1.596028296994</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TW</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CHUNGHWA TELECOM CO LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TW0002412004"/>
                </identifiers>
                <balance>18420</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".032528259"/>
                <valUSD>76237.79</valUSD>
                <pctVal>0.412783262215</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TW</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ENN ENERGY HOLDINGS LTD</name>
                <lei>549300V7BXPWT6WIPR03</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KYG3066L1014"/>
                </identifiers>
                <balance>18530</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127394215"/>
                <valUSD>253734.29</valUSD>
                <pctVal>1.373823506189</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>BANK CENTRAL ASIA TBK PT</name>
                <lei>254900BR956G2OHVOM21</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="ID1000109507"/>
                </identifiers>
                <balance>344300</balance>
                <units>NS</units>
                <currencyConditional curCd="IDR" exchangeRt=".000068166"/>
                <valUSD>212807.86</valUSD>
                <pctVal>1.152230707051</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>ID</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>MEDIATEK INC</name>
                <lei>254900UEGBK1I4DM4E14</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y5945U103</cusip>
                <identifiers>
                    <isin value="TW0002454006"/>
                </identifiers>
                <balance>14851</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".032528259"/>
                <valUSD>322748.79</valUSD>
                <pctVal>1.747496857032</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TW</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>LITE-ON TECHNOLOGY CORP</name>
                <lei>2549005GU1PQ73SZBT32</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TW0002301009"/>
                </identifiers>
                <balance>21864</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".032528259"/>
                <valUSD>52432</valUSD>
                <pctVal>0.283888764410</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TW</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>PPB GROUP BHD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="MYL4065OO008"/>
                </identifiers>
                <balance>17500</balance>
                <units>NS</units>
                <currencyConditional curCd="MYR" exchangeRt=".224190113"/>
                <valUSD>63819.39</valUSD>
                <pctVal>0.345544853763</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>MY</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>UNI-PRESIDENT ENTERPRISES CORP</name>
                <lei>254900DAXBDMVEXU5959</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TW0001216000"/>
                </identifiers>
                <balance>55000</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".032528259"/>
                <valUSD>132006.87</valUSD>
                <pctVal>0.714740372634</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TW</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>UNIVERSAL ROBINA CORP</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="PHY9297P1004"/>
                </identifiers>
                <balance>24620</balance>
                <units>NS</units>
                <currencyConditional curCd="PHP" exchangeRt=".01805543"/>
                <valUSD>65459.16</valUSD>
                <pctVal>0.354423253962</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>PH</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>SANTANDER BANK POLSKA SA</name>
                <lei>259400LGXW3K0GDAG361</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="PLBZ00000044"/>
                </identifiers>
                <balance>684</balance>
                <units>NS</units>
                <currencyConditional curCd="PLN" exchangeRt=".240263329"/>
                <valUSD>55707.77</valUSD>
                <pctVal>0.301625152451</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>PL</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>EMBOTELLADORAS ARCA SA DE CV</name>
                <lei>254900U2BSJCQHJCXN24</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="MX01AC100006"/>
                </identifiers>
                <balance>11400</balance>
                <units>NS</units>
                <currencyConditional curCd="MXN" exchangeRt=".055618899"/>
                <valUSD>108899.02</valUSD>
                <pctVal>0.589624813725</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>YUANTA FINANCIAL HOLDING CO LTD</name>
                <lei>21380045JG57LJEFFE13</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y2169H108</cusip>
                <identifiers>
                    <isin value="TW0002885001"/>
                </identifiers>
                <balance>127000</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".032528259"/>
                <valUSD>93720.75</valUSD>
                <pctVal>0.507443315477</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TW</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>LG ELECTRONICS INC</name>
                <lei>988400RMQFTGZIOG0609</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7066570003"/>
                </identifiers>
                <balance>406</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000747161"/>
                <valUSD>33340.64</valUSD>
                <pctVal>0.180520161242</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>KR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>FIRST FINANCIAL HOLDING CO LTD</name>
                <lei>529900BC1U046Q2GUZ64</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TW0002892007"/>
                </identifiers>
                <balance>141000</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".032528259"/>
                <valUSD>124626.09</valUSD>
                <pctVal>0.674777744571</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>TW</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>PEOPLE'S INSURANCE CO GROUP OF CHINA LTD/THE</name>
                <lei>3003000P2JHYHQ524P66</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE100001MK7"/>
                </identifiers>
                <balance>198000</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127394215"/>
                <valUSD>77880.25</valUSD>
                <pctVal>0.421676227198</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>PICC PROPERTY  AND  CASUALTY CO LTD</name>
                <lei>300300F1000311000017</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y6975Z103</cusip>
                <identifiers>
                    <isin value="CNE100000593"/>
                </identifiers>
                <balance>90000</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127394215"/>
                <valUSD>108685.25</valUSD>
                <pctVal>0.588467373590</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CHINA LIFE INSURANCE CO LTD</name>
                <lei>549300J6TFLDXGH6S048</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE1000002L3"/>
                </identifiers>
                <balance>141540</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127394215"/>
                <valUSD>271573.35</valUSD>
                <pctVal>1.470411633700</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CCR SA</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="BRCCROACNOR2"/>
                </identifiers>
                <balance>25800</balance>
                <units>NS</units>
                <currencyConditional curCd="BRL" exchangeRt=".200489194"/>
                <valUSD>70192.47</valUSD>
                <pctVal>0.380051372810</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>ZIJIN MINING GROUP CO LTD</name>
                <lei>836800JRNL2393Z2I561</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE100000502"/>
                </identifiers>
                <balance>17607</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127394215"/>
                <valUSD>29573.92</valUSD>
                <pctVal>0.160125564685</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>WEICHAI POWER CO LTD</name>
                <lei>529900OKTPKBG85F9502</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE1000004L9"/>
                </identifiers>
                <balance>63371</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127394215"/>
                <valUSD>93702.89</valUSD>
                <pctVal>0.507346613971</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CHINA MENGNIU DAIRY CO LTD</name>
                <lei>2549005Q343BSJ8RSS21</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KYG210961051"/>
                </identifiers>
                <balance>40220</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127394215"/>
                <valUSD>162153.64</valUSD>
                <pctVal>0.877967586668</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>HK</invCountry>

                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>TENCENT HOLDINGS LTD</name>
                <lei>254900N4SLUMW4XUYY11</lei>
                <title>ORDINARY SHARES</title>
                <cusip>G87572163</cusip>
                <identifiers>
                    <isin value="KYG875721634"/>
                </identifiers>
                <balance>17488</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127394215"/>
                <valUSD>773620.76</valUSD>
                <pctVal>4.188706165667</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>PING AN INSURANCE GROUP CO OF CHINA LTD</name>
                <lei>529900M9MC28JLN35U89</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE1000003X6"/>
                </identifiers>
                <balance>55302</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127394215"/>
                <valUSD>403011.48</valUSD>
                <pctVal>2.182072610242</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ZTE CORP</name>
                <lei>3003004FBGVVG1CW5U45</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE1000004Y2"/>
                </identifiers>
                <balance>30400</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127394215"/>
                <valUSD>97980.15</valUSD>
                <pctVal>0.530505487492</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>AAC TECHNOLOGIES HOLDINGS INC</name>
                <lei>549300SKEDE1VKS0A552</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KYG2953R1149"/>
                </identifiers>
                <balance>21255</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127394215"/>
                <valUSD>44900.83</valUSD>
                <pctVal>0.243111862025</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CHINA CONSTRUCTION BANK CORP</name>
                <lei>5493001KQW6DM7KEDR62</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE1000002H1"/>
                </identifiers>
                <balance>240000</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127394215"/>
                <valUSD>161015.41</valUSD>
                <pctVal>0.871804733671</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>HANA FINANCIAL GROUP INC</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y29975102</cusip>
                <identifiers>
                    <isin value="KR7086790003"/>
                </identifiers>
                <balance>6415</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000747161"/>
                <valUSD>201610.76</valUSD>
                <pctVal>1.091604927299</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>KR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>EMIRATES TELECOMMUNICATIONS GROUP CO PJSC</name>
                <lei>529900XDPQPWEQ9BGB80</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="AEE000401019"/>
                </identifiers>
                <balance>40919</balance>
                <units>NS</units>
                <currencyConditional curCd="AED" exchangeRt=".272308907"/>
                <valUSD>267594.82</valUSD>
                <pctVal>1.448870209267</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>AE</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ABU DHABI COMMERCIAL BANK PJSC</name>
                <lei>213800RWVKKIRX1AUH58</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="AEA000201011"/>
                </identifiers>
                <balance>56676</balance>
                <units>NS</units>
                <currencyConditional curCd="AED" exchangeRt=".272308907"/>
                <valUSD>136128.66</valUSD>
                <pctVal>0.737057466589</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>AE</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ABU DHABI ISLAMIC BANK PJSC</name>
                <lei>5493006DOLY8O98XHD74</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="AEA000801018"/>
                </identifiers>
                <balance>26319</balance>
                <units>NS</units>
                <currencyConditional curCd="AED" exchangeRt=".272308907"/>
                <valUSD>81509.67</valUSD>
                <pctVal>0.441327424164</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>AE</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>NINE DRAGONS PAPER HOLDINGS LTD</name>
                <lei>529900TBMYEYJ2LEV906</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="BMG653181005"/>
                </identifiers>
                <balance>46000</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127394215"/>
                <valUSD>31866.95</valUSD>
                <pctVal>0.172540987584</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>HK</invCountry>

                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>SAUDI INVESTMENT BANK/THE</name>
                <lei>558600V3J4M5TUY9HR70</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="SA0007879063"/>
                </identifiers>
                <balance>10250</balance>
                <units>NS</units>
                <currencyConditional curCd="SAR" exchangeRt=".266616898"/>
                <valUSD>44897.71</valUSD>
                <pctVal>0.243094969041</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>SA</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ALDAR PROPERTIES PJSC</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="AEA002001013"/>
                </identifiers>
                <balance>85809</balance>
                <units>NS</units>
                <currencyConditional curCd="AED" exchangeRt=".272308907"/>
                <valUSD>126358.81</valUSD>
                <pctVal>0.684159414922</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>AE</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>PUTNAM INVESTMENT FUNDS-PUTNAM GOVERNMENT MONEY MARKET FUND</name>
                <lei>549300SEUI2XMME8T893</lei>
                <title>SHORT TERM INV FUND</title>
                <cusip>74680A869</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="1823199"/>
                </identifiers>
                <balance>9539</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>9539</valUSD>
                <pctVal>0.051648133272</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>STIV</assetCat>
                <issuerCat>PF</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>DIGITAL TELECOMMUNICATIONS INFRASTRUCTURE FUND</name>
                <lei>N/A</lei>
                <title>STOCK UNIT</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TH5097010018"/>
                </identifiers>
                <balance>33400</balance>
                <units>OU</units>
                <currencyConditional curCd="THB" exchangeRt=".029284721"/>
                <valUSD>12421.99</valUSD>
                <pctVal>0.067257846212</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>
        </invstOrSecs>
        <explntrNotes>
            <explntrNote note="Monthly total returns provided exclude any applicable sales loads or redemption fees. " noteItem="B.5.a"/>
            <explntrNote note="For certain swaptions, if any, the value provided may include any unpaid or received premium and as a result may be a negative value." noteItem="C.2.c"/>
            <explntrNote note="For total return swaps, interest rate swaps or spread swaps, if any, the mark to market payment may be either received or paid, depending on the change in value of the underlying index, basket or equity. For credit default swaps, if any, floating rate index related payments are only made upon the occurrence of a credit event on the reference obligation." noteItem="C.11.f.i.1"/>
            <explntrNote note="For total return swaps, interest rate swaps or spread swaps, if any, the mark to market payment may be either paid or received, depending on the change in value of the underlying index, basket or equity. For credit default swaps, if any, floating rate index related payments are only made upon the occurrence of a credit event on the reference obligation." noteItem="C.11.f.i.2"/>
        </explntrNotes>
        <signature>
            <ncom:dateSigned>2023-06-23</ncom:dateSigned>
            <ncom:nameOfApplicant>Putnam Investments Inc</ncom:nameOfApplicant>
            <ncom:signature>Janet C. Smith</ncom:signature>
            <ncom:signerName>NPORT</ncom:signerName>
            <ncom:title>Principal Financial Officer</ncom:title>
        </signature>
    </formData>
</edgarSubmission>
