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            <invstOrSec>
                <name>MAKEMYTRIP LTD</name>
                <lei>529900DNT8HNJ7RYUO60</lei>
                <title>ORDINARY SHARES</title>
                <cusip>V5633W109</cusip>
                <identifiers>
                    <isin value="MU0295S00016"/>
                </identifiers>
                <balance>1686</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>65298.78</valUSD>
                <pctVal>1.096897226285</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>PRIO SA/BRAZIL</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="BRPRIOACNOR1"/>
                </identifiers>
                <balance>11900</balance>
                <units>NS</units>
                <currencyConditional curCd="BRL" exchangeRt=".198343829"/>
                <valUSD>112585.91</valUSD>
                <pctVal>1.891232460970</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>AREZZO INDUSTRIA E COMERCIO SA</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="BRARZZACNOR3"/>
                </identifiers>
                <balance>4038</balance>
                <units>NS</units>
                <currencyConditional curCd="BRL" exchangeRt=".198343829"/>
                <valUSD>46765.27</valUSD>
                <pctVal>0.785568963914</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>APL APOLLO TUBES LTD</name>
                <lei>335800ZU4GXSB7Q4IU95</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE702C01027"/>
                </identifiers>
                <balance>3017</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".01201075"/>
                <valUSD>56756.51</valUSD>
                <pctVal>0.953403086438</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>DINO POLSKA SA</name>
                <lei>259400H4L81SMPRTW956</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="PLDINPL00011"/>
                </identifiers>
                <balance>625</balance>
                <units>NS</units>
                <currencyConditional curCd="PLN" exchangeRt=".237414086"/>
                <valUSD>59257.37</valUSD>
                <pctVal>0.995412851357</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>MAX HEALTHCARE INSTITUTE LTD</name>
                <lei>3358005LALYV4GZOYF67</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE027H01010"/>
                </identifiers>
                <balance>18902</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".01201075"/>
                <valUSD>130240.83</valUSD>
                <pctVal>2.187802056578</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>INPOST SA</name>
                <lei>2221003M23QLERR89585</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="LU2290522684"/>
                </identifiers>
                <balance>5581</balance>
                <units>NS</units>
                <currencyConditional curCd="EUR" exchangeRt="1.058100287"/>
                <valUSD>55302.43</valUSD>
                <pctVal>0.928977265330</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>TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD</name>
                <lei>549300KB6NK5SBD14S87</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TW0002330008"/>
                </identifiers>
                <balance>40000</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".030830893"/>
                <valUSD>659024.89</valUSD>
                <pctVal>11.070384069865</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>SHOPRITE HOLDINGS LTD</name>
                <lei>529900Q4O1EYP6NH5150</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="ZAE000012084"/>
                </identifiers>
                <balance>8365</balance>
                <units>NS</units>
                <currencyConditional curCd="ZAR" exchangeRt=".053655265"/>
                <valUSD>107199.08</valUSD>
                <pctVal>1.800743804284</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>ASTRAZENECA PLC</name>
                <lei>PY6ZZQWO2IZFZC3IOL08</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="GB0009895292"/>
                </identifiers>
                <balance>695</balance>
                <units>NS</units>
                <currencyConditional curCd="GBP" exchangeRt="1.215449333"/>
                <valUSD>86871.99</valUSD>
                <pctVal>1.459286756550</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>GB</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>6187</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000740439"/>
                <valUSD>308518.94</valUSD>
                <pctVal>5.182540463119</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>WAL-MART DE MEXICO SAB DE CV</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="MX01WA000038"/>
                </identifiers>
                <balance>16869</balance>
                <units>NS</units>
                <currencyConditional curCd="MXN" exchangeRt=".055466193"/>
                <valUSD>60443.59</valUSD>
                <pctVal>1.015339126056</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>SAMSUNG SDI CO LTD</name>
                <lei>9884002AESDO4YW87G32</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7006400006"/>
                </identifiers>
                <balance>355</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000740439"/>
                <valUSD>113307.66</valUSD>
                <pctVal>1.903356509430</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>ANGLO AMERICAN PLC</name>
                <lei>549300S9XF92D1X8ME43</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="GB00B1XZS820"/>
                </identifiers>
                <balance>2503</balance>
                <units>NS</units>
                <currencyConditional curCd="GBP" exchangeRt="1.215449333"/>
                <valUSD>63892.42</valUSD>
                <pctVal>1.073273011818</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>GB</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>RELIANCE INDUSTRIES LTD</name>
                <lei>5493003UOETFYRONLG31</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE002A01018"/>
                </identifiers>
                <balance>3287</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".01201075"/>
                <valUSD>90659.87</valUSD>
                <pctVal>1.522916047411</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>KEI INDUSTRIES LTD</name>
                <lei>335800UDWBC2AWPU7M56</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE878B01027"/>
                </identifiers>
                <balance>6746</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".01201075"/>
                <valUSD>194604.44</valUSD>
                <pctVal>3.268990178051</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>PHOENIX MILLS LTD/THE</name>
                <lei>33580037PCXCE5PNQU51</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE211B01039"/>
                </identifiers>
                <balance>4154</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".01201075"/>
                <valUSD>90541.2</valUSD>
                <pctVal>1.520922613631</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>SUPREME INDUSTRIES LTD</name>
                <lei>33580094NA85GD34LN25</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE195A01028"/>
                </identifiers>
                <balance>2203</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".01201075"/>
                <valUSD>114645.88</valUSD>
                <pctVal>1.925836099495</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>MERCADOLIBRE INC</name>
                <lei>549300DKPDN9M5S8GB14</lei>
                <title>ORDINARY SHARES</title>
                <cusip>58733R102</cusip>
                <identifiers>
                    <isin value="US58733R1023"/>
                </identifiers>
                <balance>92</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>114148.08</valUSD>
                <pctVal>1.917473991669</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>UY</invCountry>

                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>SK HYNIX INC</name>
                <lei>988400XAIK6XISWQV045</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7000660001"/>
                </identifiers>
                <balance>2300</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000740439"/>
                <valUSD>200929.94</valUSD>
                <pctVal>3.375246732995</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>LVMH MOET HENNESSY LOUIS VUITTON SA</name>
                <lei>IOG4E947OATN0KJYSD45</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="FR0000121014"/>
                </identifiers>
                <balance>164</balance>
                <units>NS</units>
                <currencyConditional curCd="EUR" exchangeRt="1.058100287"/>
                <valUSD>117369.5</valUSD>
                <pctVal>1.971587815277</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>FR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ALSEA SAB DE CV</name>
                <lei>4469000001BJLPKNUN21</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="MXP001391012"/>
                </identifiers>
                <balance>23959</balance>
                <units>NS</units>
                <currencyConditional curCd="MXN" exchangeRt=".055466193"/>
                <valUSD>79522.25</valUSD>
                <pctVal>1.335824887585</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>BANCO DO BRASIL SA</name>
                <lei>QE0Q0253K88YAGNPE356</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="BRBBASACNOR3"/>
                </identifiers>
                <balance>7900</balance>
                <units>NS</units>
                <currencyConditional curCd="BRL" exchangeRt=".198343829"/>
                <valUSD>75760.4</valUSD>
                <pctVal>1.272632851980</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>GRUPO FINANCIERO BANORTE SAB DE CV</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>P49501201</cusip>
                <identifiers>
                    <isin value="MXP370711014"/>
                </identifiers>
                <balance>22804</balance>
                <units>NS</units>
                <currencyConditional curCd="MXN" exchangeRt=".055466193"/>
                <valUSD>184731.5</valUSD>
                <pctVal>3.103143274000</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>JUMBO SA</name>
                <lei>549300TGIVUUMY40MZ05</lei>
                <title>ORDINARY SHARES</title>
                <cusip>X4114P111</cusip>
                <identifiers>
                    <isin value="GRS282183003"/>
                </identifiers>
                <balance>3695</balance>
                <units>NS</units>
                <currencyConditional curCd="EUR" exchangeRt="1.058100287"/>
                <valUSD>97210.79</valUSD>
                <pctVal>1.632959236236</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>GR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ACCTON TECHNOLOGY CORP</name>
                <lei>529900M1YRZ0GWMDF920</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TW0002345006"/>
                </identifiers>
                <balance>12000</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".030830893"/>
                <valUSD>187006.52</valUSD>
                <pctVal>3.141359349825</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>LARSEN  AND  TOUBRO LTD</name>
                <lei>3358003FR3JIC5FRXA90</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE018A01030"/>
                </identifiers>
                <balance>1677</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".01201075"/>
                <valUSD>59028.63</valUSD>
                <pctVal>0.991570447693</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ICICI BANK LTD</name>
                <lei>R7RX8ER1V4666J8D1I38</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE090A01021"/>
                </identifiers>
                <balance>25749</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".01201075"/>
                <valUSD>283152.62</valUSD>
                <pctVal>4.756433787787</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>INDIAN HOTELS CO LTD</name>
                <lei>33580076CH5SBY5HWA22</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE053A01029"/>
                </identifiers>
                <balance>34765</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".01201075"/>
                <valUSD>160238.66</valUSD>
                <pctVal>2.691709427000</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>SUN PHARMACEUTICAL INDUSTRIES LTD</name>
                <lei>335800KJ7GE29LB4SS73</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE044A01036"/>
                </identifiers>
                <balance>5156</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".01201075"/>
                <valUSD>67478.98</valUSD>
                <pctVal>1.133520503668</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>APOLLO HOSPITALS ENTERPRISE LTD</name>
                <lei>3358005YT7JQCWYLTG43</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE437A01024"/>
                </identifiers>
                <balance>1062</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".01201075"/>
                <valUSD>61377.4</valUSD>
                <pctVal>1.031025385414</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ELITE MATERIAL CO LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y2290G102</cusip>
                <identifiers>
                    <isin value="TW0002383007"/>
                </identifiers>
                <balance>5000</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".030830893"/>
                <valUSD>55522.75</valUSD>
                <pctVal>0.932678228762</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>BANK CENTRAL ASIA TBK PT</name>
                <lei>254900BR956G2OHVOM21</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="ID1000109507"/>
                </identifiers>
                <balance>151000</balance>
                <units>NS</units>
                <currencyConditional curCd="IDR" exchangeRt=".000062952"/>
                <valUSD>83249.65</valUSD>
                <pctVal>1.398438227700</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>INTERNATIONAL CONTAINER TERMINAL SERVICES INC</name>
                <lei>254900FU1MWK0I0Q4J61</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="PHY411571011"/>
                </identifiers>
                <balance>25110</balance>
                <units>NS</units>
                <currencyConditional curCd="PHP" exchangeRt=".017624251"/>
                <valUSD>89138.43</valUSD>
                <pctVal>1.497358704441</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>KIA CORP</name>
                <lei>988400V8MJK9N7OI5X76</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7000270009"/>
                </identifiers>
                <balance>2217</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000740439"/>
                <valUSD>126876.74</valUSD>
                <pctVal>2.131291644133</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>HANSOL CHEMICAL CO LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7014680003"/>
                </identifiers>
                <balance>386</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000740439"/>
                <valUSD>43307.21</valUSD>
                <pctVal>0.727480031436</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>SINBON ELECTRONICS CO LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TW0003023008"/>
                </identifiers>
                <balance>13000</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".030830893"/>
                <valUSD>111092.65</valUSD>
                <pctVal>1.866148489231</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>BANK MANDIRI PERSERO PT</name>
                <lei>549300RSKQN4Z5ZSGH94</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="ID1000095003"/>
                </identifiers>
                <balance>349900</balance>
                <units>NS</units>
                <currencyConditional curCd="IDR" exchangeRt=".000062952"/>
                <valUSD>125390.88</valUSD>
                <pctVal>2.106331978536</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>TATA CONSULTANCY SERVICES LTD</name>
                <lei>335800ZJKU9GPQRE2U66</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y85279100</cusip>
                <identifiers>
                    <isin value="INE467B01029"/>
                </identifiers>
                <balance>3690</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".01201075"/>
                <valUSD>149706.48</valUSD>
                <pctVal>2.514788525434</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ULTRATECH CEMENT LTD</name>
                <lei>335800PC9O9B4BQHG814</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="INE481G01011"/>
                </identifiers>
                <balance>662</balance>
                <units>NS</units>
                <currencyConditional curCd="INR" exchangeRt=".01201075"/>
                <valUSD>67027.36</valUSD>
                <pctVal>1.125934133367</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IN</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>AURAS TECHNOLOGY CO LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TW0003324000"/>
                </identifiers>
                <balance>5000</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".030830893"/>
                <valUSD>44709.74</valUSD>
                <pctVal>0.751039909075</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>COPA HOLDINGS SA</name>
                <lei>529900BB9UQJV6QQHA59</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="PAP310761054"/>
                </identifiers>
                <balance>649</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>52990.85</valUSD>
                <pctVal>0.890147049967</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>PA</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</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>54235</balance>
                <units>NS</units>
                <currencyConditional curCd="AED" exchangeRt=".272257011"/>
                <valUSD>151999.52</valUSD>
                <pctVal>2.553307303515</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>TOTVS SA</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="BRTOTSACNOR8"/>
                </identifiers>
                <balance>10214</balance>
                <units>NS</units>
                <currencyConditional curCd="BRL" exchangeRt=".198343829"/>
                <valUSD>51275.12</valUSD>
                <pctVal>0.861325998823</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>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>162245</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>162245</valUSD>
                <pctVal>2.725412181952</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>
        </invstOrSecs>
        <signature>
            <ncom:dateSigned>2023-12-21</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>
