<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/nport" xmlns:com="http://www.sec.gov/edgar/common" xmlns:ncom="http://www.sec.gov/edgar/nportcommon">
    <headerData>
        <submissionType>NPORT-P</submissionType>
        <isConfidential>false</isConfidential>
        <filerInfo>

            <filer>
                <issuerCredentials>
                    <cik>0001845809</cik>
                    <ccc>XXXXXXXX</ccc>
                </issuerCredentials>
            </filer>


            <seriesClassInfo>
                <seriesId>S000077300</seriesId>
                <classId>C000237597</classId>
            </seriesClassInfo>


        </filerInfo>
    </headerData>
    <formData>
        <genInfo>
            <regName>Putnam ETF Trust</regName>
            <regFileNumber>811-23643</regFileNumber>
            <regCik>0001845809</regCik>
            <regLei>549300EMFKH8ETCKNO35</regLei>
            <regStreet1>100 FEDERAL STREET</regStreet1>
            <regCity>BOSTON</regCity>
            <regStateConditional regCountry="US" regState="US-MA"/>
            <regZipOrPostalCode>02110</regZipOrPostalCode>
            <regPhone>1-800-225-1581</regPhone>
            <seriesName>Putnam Panagora ESG Emerging Markets Equity ETF</seriesName>
            <seriesId>S000077300</seriesId>
            <seriesLei>549300D6DERBDQV65J18</seriesLei>
            <repPdEnd>2024-04-30</repPdEnd>
            <repPdDate>2023-10-31</repPdDate>
            <isFinalFiling>N</isFinalFiling>
        </genInfo>
        <fundInfo>
            <totAssets>18699706.45</totAssets>
            <totLiabs>9548.22</totLiabs>
            <netAssets>18690158.22</netAssets>
            <assetsAttrMiscSec>0.00</assetsAttrMiscSec>
            <assetsInvested>0.00</assetsInvested>
            <amtPayOneYrBanksBorr>0.00</amtPayOneYrBanksBorr>
            <amtPayOneYrCtrldComp>0.00</amtPayOneYrCtrldComp>
            <amtPayOneYrOthAffil>0.00</amtPayOneYrOthAffil>
            <amtPayOneYrOther>0.00</amtPayOneYrOther>
            <amtPayAftOneYrBanksBorr>0.00</amtPayAftOneYrBanksBorr>
            <amtPayAftOneYrCtrldComp>0.00</amtPayAftOneYrCtrldComp>
            <amtPayAftOneYrOthAffil>0.00</amtPayAftOneYrOthAffil>
            <amtPayAftOneYrOther>0.00</amtPayAftOneYrOther>
            <delayDeliv>0.00</delayDeliv>
            <standByCommit>0.00</standByCommit>
            <liquidPref>0.00</liquidPref>
            <cshNotRptdInCorD>39507.38</cshNotRptdInCorD>
            <isNonCashCollateral>N</isNonCashCollateral>
            <returnInfo>
                <monthlyTotReturns>
                    <monthlyTotReturn classId="C000237597" rtn1="-3.22" rtn2="-2.36" rtn3="-7"/>
                </monthlyTotReturns>
                <monthlyReturnCats>
                    <commodityContracts>
                        <mon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <mon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <mon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <forwardCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </forwardCategory>
                        <futureCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </futureCategory>
                        <optionCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </optionCategory>
                        <swaptionCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </swaptionCategory>
                        <swapCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </swapCategory>
                        <warrantCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </warrantCategory>
                        <otherCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </otherCategory>
                    </commodityContracts>
                    <creditContracts>
                        <mon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <mon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <mon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <forwardCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </forwardCategory>
                        <futureCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </futureCategory>
                        <optionCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </optionCategory>
                        <swaptionCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </swaptionCategory>
                        <swapCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </swapCategory>
                        <warrantCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </warrantCategory>
                        <otherCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </otherCategory>
                    </creditContracts>
                    <equityContracts>
                        <mon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <mon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <mon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <forwardCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </forwardCategory>
                        <futureCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </futureCategory>
                        <optionCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </optionCategory>
                        <swaptionCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </swaptionCategory>
                        <swapCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </swapCategory>
                        <warrantCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </warrantCategory>
                        <otherCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </otherCategory>
                    </equityContracts>
                    <foreignExchgContracts>
                        <mon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <mon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <mon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <forwardCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </forwardCategory>
                        <futureCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </futureCategory>
                        <optionCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </optionCategory>
                        <swaptionCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </swaptionCategory>
                        <swapCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </swapCategory>
                        <warrantCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </warrantCategory>
                        <otherCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </otherCategory>
                    </foreignExchgContracts>
                    <interestRtContracts>
                        <mon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <mon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <mon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <forwardCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </forwardCategory>
                        <futureCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </futureCategory>
                        <optionCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </optionCategory>
                        <swaptionCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </swaptionCategory>
                        <swapCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </swapCategory>
                        <warrantCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </warrantCategory>
                        <otherCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </otherCategory>
                    </interestRtContracts>
                    <otherContracts>
                        <mon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <mon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <mon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        <forwardCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </forwardCategory>
                        <futureCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </futureCategory>
                        <optionCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </optionCategory>
                        <swaptionCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </swaptionCategory>
                        <swapCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </swapCategory>
                        <warrantCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </warrantCategory>
                        <otherCategory>
                            <instrMon1 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon2 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                            <instrMon3 netRealizedGain="0.00" netUnrealizedAppr="0.00"/>
                        </otherCategory>
                    </otherContracts>
                </monthlyReturnCats>
                <othMon1 netRealizedGain="-327172" netUnrealizedAppr="-313503.98"/>
                <othMon2 netRealizedGain="-291.97" netUnrealizedAppr="-482457.70"/>
                <othMon3 netRealizedGain="-1569.17" netUnrealizedAppr="-1440533.41"/>
            </returnInfo>
            <mon1Flow redemption="0" reinvestment="0" sales="477584.7"/>
            <mon2Flow redemption="0" reinvestment="0" sales="0"/>
            <mon3Flow redemption="0" reinvestment="0" sales="480770.55"/>



        </fundInfo>
        <invstOrSecs>
            <invstOrSec>
                <name>INFOSYS LTD</name>
                <lei>335800TYLGG93MM7PR89</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>456788108</cusip>
                <identifiers>
                    <isin value="US4567881085"/>
                </identifiers>
                <balance>52959</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>869586.78</valUSD>
                <pctVal>4.652645364283</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>GOLD FIELDS LTD</name>
                <lei>5299003KXIBJQYCBBD72</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>38059T106</cusip>
                <identifiers>
                    <isin value="US38059T1060"/>
                </identifiers>
                <balance>23694</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>308495.88</valUSD>
                <pctVal>1.650579285465</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>DR REDDY'S LABORATORIES LTD</name>
                <lei>335800OVDPY3DVZR2798</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>256135203</cusip>
                <identifiers>
                    <isin value="US2561352038"/>
                </identifiers>
                <balance>6548</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>426471.24</valUSD>
                <pctVal>2.281795771764</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>JD.COM INC</name>
                <lei>549300HVTWB0GJZ16V92</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>47215P106</cusip>
                <identifiers>
                    <isin value="US47215P1066"/>
                </identifiers>
                <balance>3398</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>86377.16</valUSD>
                <pctVal>0.462153177000</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>ALIBABA GROUP HOLDING LTD</name>
                <lei>5493001NTNQJDH60PM02</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>01609W102</cusip>
                <identifiers>
                    <isin value="US01609W1027"/>
                </identifiers>
                <balance>6377</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>526357.58</valUSD>
                <pctVal>2.816228593703</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>ICICI BANK LTD</name>
                <lei>R7RX8ER1V4666J8D1I38</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>45104G104</cusip>
                <identifiers>
                    <isin value="US45104G1040"/>
                </identifiers>
                <balance>76525</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>1698089.75</valUSD>
                <pctVal>9.085475521459</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>NETEASE INC</name>
                <lei>5299004AF4DSJDB0PA32</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>64110W102</cusip>
                <identifiers>
                    <isin value="US64110W1027"/>
                </identifiers>
                <balance>3458</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>369729.36</valUSD>
                <pctVal>1.978203478258</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>VIPSHOP HOLDINGS LTD</name>
                <lei>549300I9F52K06HPZX60</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>92763W103</cusip>
                <identifiers>
                    <isin value="US92763W1036"/>
                </identifiers>
                <balance>11423</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>162891.98</valUSD>
                <pctVal>0.871538796422</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>TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD</name>
                <lei>549300KB6NK5SBD14S87</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>874039100</cusip>
                <identifiers>
                    <isin value="US8740391003"/>
                </identifiers>
                <balance>16615</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>1434040.65</valUSD>
                <pctVal>7.672704709720</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>AMBEV SA</name>
                <lei>549300TH5Q6VRP8OT012</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>02319V103</cusip>
                <identifiers>
                    <isin value="US02319V1035"/>
                </identifiers>
                <balance>120882</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>305831.46</valUSD>
                <pctVal>1.636323547399</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>FOMENTO ECONOMICO MEXICANO SAB DE CV</name>
                <lei>549300A8MDWDJNMLV153</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>344419106</cusip>
                <identifiers>
                    <isin value="US3444191064"/>
                </identifiers>
                <balance>2807</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>318341.87</valUSD>
                <pctVal>1.703259363847</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>ASE TECHNOLOGY HOLDING CO LTD</name>
                <lei>300300GO8QHPMV87NZ73</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>00215W100</cusip>
                <identifiers>
                    <isin value="US00215W1009"/>
                </identifiers>
                <balance>24506</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>182569.7</valUSD>
                <pctVal>0.976822656347</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>WHA CORP PCL</name>
                <lei>254900E68VLEZZULQP27</lei>
                <title>GLOBAL DEPOSITORY RECEIPT</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TH3871010R19"/>
                </identifiers>
                <balance>63500</balance>
                <units>NS</units>
                <currencyConditional curCd="THB" exchangeRt=".027822216"/>
                <valUSD>8843.16</valUSD>
                <pctVal>0.047314527228</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>PTT OIL  AND  RETAIL BUSINESS PCL</name>
                <lei>254900E86F1OANU6B371</lei>
                <title>GLOBAL DEPOSITORY RECEIPT</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="THA099010R13"/>
                </identifiers>
                <balance>107000</balance>
                <units>NS</units>
                <currencyConditional curCd="THB" exchangeRt=".027822216"/>
                <valUSD>54548.9</valUSD>
                <pctVal>0.291858952492</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>ADVANCED INFO SERVICE PCL</name>
                <lei>529900DU2YW1NO5RMU78</lei>
                <title>GLOBAL DEPOSITORY RECEIPT</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TH0268010R11"/>
                </identifiers>
                <balance>33800</balance>
                <units>NS</units>
                <currencyConditional curCd="THB" exchangeRt=".027822216"/>
                <valUSD>207004.54</valUSD>
                <pctVal>1.107559056287</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>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>258600</balance>
                <units>NS</units>
                <currencyConditional curCd="THB" exchangeRt=".027822216"/>
                <valUSD>190819.97</valUSD>
                <pctVal>1.020964979290</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>MOBILE TELECOMMUNICATIONS CO SAUDI ARABIA</name>
                <lei>254900XHCET9KD2D4R78</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="SA121053DR18"/>
                </identifiers>
                <balance>15964</balance>
                <units>NS</units>
                <currencyConditional curCd="SAR" exchangeRt=".266552937"/>
                <valUSD>58719.35</valUSD>
                <pctVal>0.314172567770</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"/>
                </identifiers>
                <balance>2582</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000740439"/>
                <valUSD>286551.84</valUSD>
                <pctVal>1.533169685495</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>SUMBER ALFARIA TRIJAYA TBK PT</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="ID1000128705"/>
                </identifiers>
                <balance>682000</balance>
                <units>NS</units>
                <currencyConditional curCd="IDR" exchangeRt=".000062952"/>
                <valUSD>124030.79</valUSD>
                <pctVal>0.663615516466</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>SINOPHARM GROUP CO</name>
                <lei>529900N54X78YH9JYK92</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE100000FN7"/>
                </identifiers>
                <balance>48800</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127791444"/>
                <valUSD>117534.9</valUSD>
                <pctVal>0.628859844933</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 MINSHENG BANKING CORP LTD</name>
                <lei>549300HBUGSQD1VCXG94</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE100000HF9"/>
                </identifiers>
                <balance>288500</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127791444"/>
                <valUSD>96167.97</valUSD>
                <pctVal>0.514538019786</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"/>
                </identifiers>
                <balance>56000</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127791444"/>
                <valUSD>89866.57</valUSD>
                <pctVal>0.480822949395</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>SAMSUNG SDS CO LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7018260000"/>
                </identifiers>
                <balance>1557</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000740439"/>
                <valUSD>159444.45</valUSD>
                <pctVal>0.853093099177</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>2201</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000740439"/>
                <valUSD>173958.01</valUSD>
                <pctVal>0.930746588404</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>YUTONG BUS CO LTD</name>
                <lei>300300OMPRVW0Q75F037</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE000000PY4"/>
                </identifiers>
                <balance>9700</balance>
                <units>NS</units>
                <currencyConditional curCd="CNY" exchangeRt=".13664749"/>
                <valUSD>18086.37</valUSD>
                <pctVal>0.096769485775</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>SHANDONG NANSHAN ALUMINUM CO LTD</name>
                <lei>836800YU5J3RT2VPUO65</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE000001139"/>
                </identifiers>
                <balance>46300</balance>
                <units>NS</units>
                <currencyConditional curCd="CNY" exchangeRt=".13664749"/>
                <valUSD>19672.09</valUSD>
                <pctVal>0.105253737119</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>JIANGSU EXPRESSWAY CO LTD</name>
                <lei>529900UWWTWZ6AKLYD43</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE0000016S0"/>
                </identifiers>
                <balance>9900</balance>
                <units>NS</units>
                <currencyConditional curCd="CNY" exchangeRt=".13664749"/>
                <valUSD>13354</valUSD>
                <pctVal>0.071449368394</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>HUAXIN CEMENT CO LTD</name>
                <lei>300300SD5S95ZOS05G37</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE000000DC6"/>
                </identifiers>
                <balance>4400</balance>
                <units>NS</units>
                <currencyConditional curCd="CNY" exchangeRt=".13664749"/>
                <valUSD>8965.38</valUSD>
                <pctVal>0.047968454277</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>INDUSTRIAL BANK CO LTD</name>
                <lei>300300C1030935001303</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE000001QZ7"/>
                </identifiers>
                <balance>49900</balance>
                <units>NS</units>
                <currencyConditional curCd="CNY" exchangeRt=".13664749"/>
                <valUSD>102875.29</valUSD>
                <pctVal>0.550424928398</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>UNIVERSAL SCIENTIFIC INDUSTRIAL SHANGHAI CO LTD</name>
                <lei>655600ZQ6P2GFIBK8C07</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE100001BZ8"/>
                </identifiers>
                <balance>9800</balance>
                <units>NS</units>
                <currencyConditional curCd="CNY" exchangeRt=".13664749"/>
                <valUSD>19537.6</valUSD>
                <pctVal>0.104534160546</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>ZHEJIANG CHINA COMMODITIES CIT</name>
                <lei>300300UELW04DCUGGZ27</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE000001BC8"/>
                </identifiers>
                <balance>19400</balance>
                <units>NS</units>
                <currencyConditional curCd="CNY" exchangeRt=".13664749"/>
                <valUSD>20708.42</valUSD>
                <pctVal>0.110798526991</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>BAOSHAN IRON  AND  STEEL CO LTD</name>
                <lei>300300PYAP4PEHORZT21</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE0000015R4"/>
                </identifiers>
                <balance>59500</balance>
                <units>NS</units>
                <currencyConditional curCd="CNY" exchangeRt=".13664749"/>
                <valUSD>50933.78</valUSD>
                <pctVal>0.272516580119</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>HUNDSUN TECHNOLOGIES INC</name>
                <lei>3003003LS77D1DRDDE25</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE000001GD5"/>
                </identifiers>
                <balance>9700</balance>
                <units>NS</units>
                <currencyConditional curCd="CNY" exchangeRt=".13664749"/>
                <valUSD>41605.47</valUSD>
                <pctVal>0.222606301725</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=".13664749"/>
                <valUSD>79411.09</valUSD>
                <pctVal>0.424881849930</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>LAO FENG XIANG CO LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE000000537"/>
                </identifiers>
                <balance>1100</balance>
                <units>NS</units>
                <currencyConditional curCd="CNY" exchangeRt=".13664749"/>
                <valUSD>9357.82</valUSD>
                <pctVal>0.050068168979</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>SHANGHAI YUYUAN TOURIST MART GROUP CO LTD</name>
                <lei>3003009LKEYMR1CGTI26</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE000000594"/>
                </identifiers>
                <balance>17500</balance>
                <units>NS</units>
                <currencyConditional curCd="CNY" exchangeRt=".13664749"/>
                <valUSD>15573.71</valUSD>
                <pctVal>0.083325725854</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="CNE100000LQ8"/>
                </identifiers>
                <balance>22300</balance>
                <units>NS</units>
                <currencyConditional curCd="CNY" exchangeRt=".13664749"/>
                <valUSD>48897.06</valUSD>
                <pctVal>0.261619294093</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=".127791444"/>
                <valUSD>58177.79</valUSD>
                <pctVal>0.311275000004</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 RAILWAY SIGNAL  AND  COMMUNICATION CORP LTD</name>
                <lei>529900GK68ZHDM38WD21</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE1000021L3"/>
                </identifiers>
                <balance>55000</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127791444"/>
                <valUSD>17216.12</valUSD>
                <pctVal>0.092113291912</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>ENEL CHILE SA</name>
                <lei>549300YM5CWCAUVOPB53</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CL0002266774"/>
                </identifiers>
                <balance>1175506</balance>
                <units>NS</units>
                <currencyConditional curCd="CLP" exchangeRt=".001117318"/>
                <valUSD>69610.97</valUSD>
                <pctVal>0.372447194832</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>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=".000740439"/>
                <valUSD>44940.68</valUSD>
                <pctVal>0.240451040976</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>UNISPLENDOUR CORP LTD</name>
                <lei>300300Z3RHZRXCNTRC53</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE0000010T1"/>
                </identifiers>
                <balance>12400</balance>
                <units>NS</units>
                <currencyConditional curCd="CNY" exchangeRt=".13664749"/>
                <valUSD>33461.51</valUSD>
                <pctVal>0.179032780815</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 RESOURCES SANJIU MEDICAL  AND  PHARMACEUTICAL CO LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE0000011K8"/>
                </identifiers>
                <balance>3500</balance>
                <units>NS</units>
                <currencyConditional curCd="CNY" exchangeRt=".13664749"/>
                <valUSD>20680.29</valUSD>
                <pctVal>0.110648019972</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>37 INTERACTIVE ENTERTAINMENT NETWORK TECHNOLOGY GROUP CO LTD</name>
                <lei>300300BE4IFCPHCUMI94</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE1000010N2"/>
                </identifiers>
                <balance>6600</balance>
                <units>NS</units>
                <currencyConditional curCd="CNY" exchangeRt=".13664749"/>
                <valUSD>18780.62</valUSD>
                <pctVal>0.100484007567</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 MERCHANTS SHEKOU INDUSTRIAL ZONE HOLDINGS CO LTD</name>
                <lei>300300T3ACALX7NIPW13</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE100002FC6"/>
                </identifiers>
                <balance>22400</balance>
                <units>NS</units>
                <currencyConditional curCd="CNY" exchangeRt=".13664749"/>
                <valUSD>33897.81</valUSD>
                <pctVal>0.181367164478</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>GREE ELECTRIC APPLIANCES INC OF ZHUHAI</name>
                <lei>655600UY069MU9JRAN62</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE0000001D4"/>
                </identifiers>
                <balance>8000</balance>
                <units>NS</units>
                <currencyConditional curCd="CNY" exchangeRt=".13664749"/>
                <valUSD>37239.85</valUSD>
                <pctVal>0.199248447026</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>YUNNAN BAIYAO GROUP CO LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE0000008X7"/>
                </identifiers>
                <balance>4900</balance>
                <units>NS</units>
                <currencyConditional curCd="CNY" exchangeRt=".13664749"/>
                <valUSD>34065</valUSD>
                <pctVal>0.182261699441</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 TOWER CORP LTD</name>
                <lei>300300T6BNNP0L7O7H91</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE100003688"/>
                </identifiers>
                <balance>1710000</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127791444"/>
                <valUSD>160176.97</valUSD>
                <pctVal>0.857012381140</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>14800</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127791444"/>
                <valUSD>210260.3</valUSD>
                <pctVal>1.124978705504</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>25300</balance>
                <units>NS</units>
                <currencyConditional curCd="CNY" exchangeRt=".13664749"/>
                <valUSD>51611.48</valUSD>
                <pctVal>0.276142552634</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>ZHEJIANG WEIXING NEW BUILDING MATERIALS CO LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE100000MK9"/>
                </identifiers>
                <balance>7100</balance>
                <units>NS</units>
                <currencyConditional curCd="CNY" exchangeRt=".13664749"/>
                <valUSD>16030.11</valUSD>
                <pctVal>0.085767652747</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>SHANGHAI FLYCO ELECTRICAL APPLIANCE CO LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE100002771"/>
                </identifiers>
                <balance>1000</balance>
                <units>NS</units>
                <currencyConditional curCd="CNY" exchangeRt=".13664749"/>
                <valUSD>7358.31</valUSD>
                <pctVal>0.039369971690</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>SHANDONG SUN PAPER INDUSTRY JSC LTD</name>
                <lei>3003003IDX6WN6H5CH12</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE000001P52"/>
                </identifiers>
                <balance>11400</balance>
                <units>NS</units>
                <currencyConditional curCd="CNY" exchangeRt=".13664749"/>
                <valUSD>19386.21</valUSD>
                <pctVal>0.103724162053</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>SINOTRANS LIMITED</name>
                <lei>5299005U1RZLKVFWR249</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE100003GS8"/>
                </identifiers>
                <balance>13100</balance>
                <units>NS</units>
                <currencyConditional curCd="CNY" exchangeRt=".13664749"/>
                <valUSD>7879.21</valUSD>
                <pctVal>0.042156999996</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>CNOOC ENERGY TECHNOLOGY  AND  SERVICES LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE100003L78"/>
                </identifiers>
                <balance>20100</balance>
                <units>NS</units>
                <currencyConditional curCd="CNY" exchangeRt=".13664749"/>
                <valUSD>8353.56</valUSD>
                <pctVal>0.044694966740</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>CGN POWER CO LTD</name>
                <lei>529900D2UINCGWQYBK45</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE100003N43"/>
                </identifiers>
                <balance>249000</balance>
                <units>NS</units>
                <currencyConditional curCd="CNY" exchangeRt=".13664749"/>
                <valUSD>101066.72</valUSD>
                <pctVal>0.540748338298</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>2926</balance>
                <units>NS</units>
                <currencyConditional curCd="SAR" exchangeRt=".266552937"/>
                <valUSD>196282.72</valUSD>
                <pctVal>1.050192928757</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=".198343829"/>
                <valUSD>77629</valUSD>
                <pctVal>0.415346938673</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>CAIXA SEGURIDADE PARTICIPACOES S/A</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="BRCXSEACNOR7"/>
                </identifiers>
                <balance>4100</balance>
                <units>NS</units>
                <currencyConditional curCd="BRL" exchangeRt=".198343829"/>
                <valUSD>8798.93</valUSD>
                <pctVal>0.047077878616</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>ADNOC DRILLING CO PJSC</name>
                <lei>254900JPRSQL1PM0JV19</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="AEA007301012"/>
                </identifiers>
                <balance>13188</balance>
                <units>NS</units>
                <currencyConditional curCd="AED" exchangeRt=".272257011"/>
                <valUSD>13073.98</valUSD>
                <pctVal>0.069951146727</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>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=".03531167"/>
                <valUSD>35035.31</valUSD>
                <pctVal>0.187453255278</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>FIRSTRAND LTD</name>
                <lei>529900XYOP8CUZU7R671</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="ZAE000066304"/>
                </identifiers>
                <balance>44948</balance>
                <units>NS</units>
                <currencyConditional curCd="ZAR" exchangeRt=".053655265"/>
                <valUSD>148233.63</valUSD>
                <pctVal>0.793110621404</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>INDAH KIAT PULP AND PAPER CORP TBK PT</name>
                <lei>529900F19DXXA9HNCB51</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="ID1000062201"/>
                </identifiers>
                <balance>128400</balance>
                <units>NS</units>
                <currencyConditional curCd="IDR" exchangeRt=".000062952"/>
                <valUSD>77732.91</valUSD>
                <pctVal>0.415902899724</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>NESTLE MALAYSIA BHD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="MYL4707OO005"/>
                </identifiers>
                <balance>2447</balance>
                <units>NS</units>
                <currencyConditional curCd="MYR" exchangeRt=".209885612"/>
                <valUSD>63558.1</valUSD>
                <pctVal>0.340061861713</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>483</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000740439"/>
                <valUSD>92782.92</valUSD>
                <pctVal>0.496426616125</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>YAPI VE KREDI BANKASI AS</name>
                <lei>B85ZYWEZ5IZCZ2WNIO12</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TRAYKBNK91N6"/>
                </identifiers>
                <balance>137686</balance>
                <units>NS</units>
                <currencyConditional curCd="TRY" exchangeRt=".03531167"/>
                <valUSD>84404.85</valUSD>
                <pctVal>0.451600510849</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>LENOVO GROUP LTD</name>
                <lei>254900VUZRGD5U73RE46</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y5257Y107</cusip>
                <identifiers>
                    <isin value="HK0992009065"/>
                </identifiers>
                <balance>229065</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127791444"/>
                <valUSD>267762.96</valUSD>
                <pctVal>1.432641483545</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="ZAE000325783"/>
                </identifiers>
                <balance>713</balance>
                <units>NS</units>
                <currencyConditional curCd="ZAR" exchangeRt=".053655265"/>
                <valUSD>111153.23</valUSD>
                <pctVal>0.594715297172</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>20999</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000740439"/>
                <valUSD>1047129.34</valUSD>
                <pctVal>5.602570763042</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=".237414086"/>
                <valUSD>15112.56</valUSD>
                <pctVal>0.080858384515</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>CIA ENERGETICA DE MINAS GERAIS</name>
                <lei>254900W703PXLDSEM056</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="BRCMIGACNPR3"/>
                </identifiers>
                <balance>56800</balance>
                <units>NS</units>
                <currencyConditional curCd="BRL" exchangeRt=".198343829"/>
                <valUSD>132262.01</valUSD>
                <pctVal>0.707655914108</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>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=".002766636"/>
                <valUSD>70257.26</valUSD>
                <pctVal>0.375905110984</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=".000062952"/>
                <valUSD>60439.07</valUSD>
                <pctVal>0.323373773986</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>COMPAL ELECTRONICS INC</name>
                <lei>529900ZPKWFDL21LW166</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TW0002324001"/>
                </identifiers>
                <balance>170000</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".030830893"/>
                <valUSD>147314.23</valUSD>
                <pctVal>0.788191454914</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>HYUNDAI MOBIS</name>
                <lei>988400HJA9E0ZVDHRS65</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7012330007"/>
                </identifiers>
                <balance>1590</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000740439"/>
                <valUSD>248006.51</valUSD>
                <pctVal>1.326936385881</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=".127791444"/>
                <valUSD>35427.79</valUSD>
                <pctVal>0.189553183997</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>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=".055466193"/>
                <valUSD>91360.59</valUSD>
                <pctVal>0.488816568188</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>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=".000740439"/>
                <valUSD>12743.36</valUSD>
                <pctVal>0.068182194340</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 SANTANDER</name>
                <lei>3YJP8HORPAEXJ80D6368</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CLP1506A1070"/>
                </identifiers>
                <balance>2628028</balance>
                <units>NS</units>
                <currencyConditional curCd="CLP" exchangeRt=".001117318"/>
                <valUSD>114576.15</valUSD>
                <pctVal>0.613029320840</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=".001117318"/>
                <valUSD>69133.83</valUSD>
                <pctVal>0.369894300445</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 FINANCIERO BANORTE SAB DE CV</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>P49501201</cusip>
                <identifiers>
                    <isin value="MXP370711014"/>
                </identifiers>
                <balance>24400</balance>
                <units>NS</units>
                <currencyConditional curCd="MXN" exchangeRt=".055466193"/>
                <valUSD>197660.44</valUSD>
                <pctVal>1.057564294927</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>109146</balance>
                <units>NS</units>
                <currencyConditional curCd="TRY" exchangeRt=".03531167"/>
                <valUSD>114614.66</valUSD>
                <pctVal>0.613235365110</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>BORUSAN BIRLESIK BORU FABRIKALARI SANAYI VE TICARET AS</name>
                <lei>789000AZXX6WQ8RA1J39</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TRABRSAN91G8"/>
                </identifiers>
                <balance>3381</balance>
                <units>NS</units>
                <currencyConditional curCd="TRY" exchangeRt=".03531167"/>
                <valUSD>111192.76</valUSD>
                <pctVal>0.594926798859</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>TURK HAVA YOLLARI AO</name>
                <lei>789000EV8M3BL7ZPFB03</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TRATHYAO91M5"/>
                </identifiers>
                <balance>22092</balance>
                <units>NS</units>
                <currencyConditional curCd="TRY" exchangeRt=".03531167"/>
                <valUSD>171409.73</valUSD>
                <pctVal>0.917112246897</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>ACER INC</name>
                <lei>2549006Z3IVAZIQEUM25</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y0003F171</cusip>
                <identifiers>
                    <isin value="TW0002353000"/>
                </identifiers>
                <balance>119000</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".030830893"/>
                <valUSD>125354.39</valUSD>
                <pctVal>0.670697318474</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 NEGARA INDONESIA PERSERO TBK PT</name>
                <lei>549300HZ8J3MLVXQ8F85</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="ID1000096605"/>
                </identifiers>
                <balance>479700</balance>
                <units>NS</units>
                <currencyConditional curCd="IDR" exchangeRt=".000062952"/>
                <valUSD>144650.73</valUSD>
                <pctVal>0.773940639225</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>GUANGZHOU BAIYUNSHAN PHARMACEUTICAL HOLDINGS CO LTD</name>
                <lei>529900ROARJHMUIME057</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y2932P106</cusip>
                <identifiers>
                    <isin value="CNE100000387"/>
                </identifiers>
                <balance>8000</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127791444"/>
                <valUSD>21409.95</valUSD>
                <pctVal>0.114551999764</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>DELTA ELECTRONICS INC</name>
                <lei>529900UVZWNWGDLJSM52</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TW0002308004"/>
                </identifiers>
                <balance>33000</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".030830893"/>
                <valUSD>298738.22</valUSD>
                <pctVal>1.598371808754</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=".030830893"/>
                <valUSD>65983.77</valUSD>
                <pctVal>0.353040189512</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>KUNLUN ENERGY CO LTD</name>
                <lei>5299007GRIKP15GM4927</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="BMG5320C1082"/>
                </identifiers>
                <balance>128000</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127791444"/>
                <valUSD>106616.03</valUSD>
                <pctVal>0.570439419212</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>BANK CENTRAL ASIA TBK PT</name>
                <lei>254900BR956G2OHVOM21</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="ID1000109507"/>
                </identifiers>
                <balance>379100</balance>
                <units>NS</units>
                <currencyConditional curCd="IDR" exchangeRt=".000062952"/>
                <valUSD>209006.23</valUSD>
                <pctVal>1.118268917469</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>35700</balance>
                <units>NS</units>
                <currencyConditional curCd="PHP" exchangeRt=".017624251"/>
                <valUSD>126732.06</valUSD>
                <pctVal>0.678068417122</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>CHINA RESOURCES GAS GROUP LTD</name>
                <lei>529900A0E1J5JSOKEK83</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="BMG2113B1081"/>
                </identifiers>
                <balance>37300</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127791444"/>
                <valUSD>110294.74</valUSD>
                <pctVal>0.590122024125</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>PETRONAS DAGANGAN BHD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="MYL5681OO001"/>
                </identifiers>
                <balance>12900</balance>
                <units>NS</units>
                <currencyConditional curCd="MYR" exchangeRt=".209885612"/>
                <valUSD>61863.06</valUSD>
                <pctVal>0.330992703603</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>107000</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".030830893"/>
                <valUSD>225676.1</valUSD>
                <pctVal>1.207459548194</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 ENGINEERING CO LTD</name>
                <lei>988400HDAY5KIVHGZ188</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KR7028050003"/>
                </identifiers>
                <balance>4565</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000740439"/>
                <valUSD>80817.67</valUSD>
                <pctVal>0.432407628917</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>TECO ELECTRIC AND MACHINERY CO LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TW0001504009"/>
                </identifiers>
                <balance>8000</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".030830893"/>
                <valUSD>11429.5</valUSD>
                <pctVal>0.061152505321</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>FUBON FINANACIAL HOLDING CO</name>
                <lei>549300G7Y2TS2XNIB476</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="TW0002881000"/>
                </identifiers>
                <balance>4450</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".030830893"/>
                <valUSD>8282.3</valUSD>
                <pctVal>0.044313696559</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>YUANTA FINANCIAL HOLDING CO LTD</name>
                <lei>21380045JG57LJEFFE13</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y2169H108</cusip>
                <identifiers>
                    <isin value="TW0002885001"/>
                </identifiers>
                <balance>144000</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".030830893"/>
                <valUSD>108348.65</valUSD>
                <pctVal>0.579709645711</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>3624</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000740439"/>
                <valUSD>269683.47</valUSD>
                <pctVal>1.442916998484</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>ULTRAPAR PARTICIPACOES SA</name>
                <lei>529900FU4XBXGQMLRE72</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="BRUGPAACNOR8"/>
                </identifiers>
                <balance>22900</balance>
                <units>NS</units>
                <currencyConditional curCd="BRL" exchangeRt=".198343829"/>
                <valUSD>92885.41</valUSD>
                <pctVal>0.496974979594</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>CTBC FINANCIAL HOLDING CO LTD</name>
                <lei>549300IWDYIFW6JXM387</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y15093100</cusip>
                <identifiers>
                    <isin value="TW0002891009"/>
                </identifiers>
                <balance>225000</balance>
                <units>NS</units>
                <currencyConditional curCd="TWD" exchangeRt=".030830893"/>
                <valUSD>169129.1</valUSD>
                <pctVal>0.904909942491</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>NAVER CORP</name>
                <lei>988400ULUQYDB2HQYJ61</lei>
                <title>ORDINARY SHARES</title>
                <cusip>Y6347M103</cusip>
                <identifiers>
                    <isin value="KR7035420009"/>
                </identifiers>
                <balance>732</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000740439"/>
                <valUSD>102630.45</valUSD>
                <pctVal>0.549114934138</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>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=".127791444"/>
                <valUSD>65527.78</valUSD>
                <pctVal>0.350600456287</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>156540</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127791444"/>
                <valUSD>211929.92</valUSD>
                <pctVal>1.133911856205</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>33100</balance>
                <units>NS</units>
                <currencyConditional curCd="BRL" exchangeRt=".198343829"/>
                <valUSD>78650.87</valUSD>
                <pctVal>0.420814361624</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=".127791444"/>
                <valUSD>27350.58</valUSD>
                <pctVal>0.146336802921</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=".127791444"/>
                <valUSD>94718.88</valUSD>
                <pctVal>0.506784794891</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>CHINASOFT INTERNATIONAL LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>G2110A111</cusip>
                <identifiers>
                    <isin value="KYG2110A1114"/>
                </identifiers>
                <balance>112000</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127791444"/>
                <valUSD>81143.42</valUSD>
                <pctVal>0.434150524810</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>TENCENT HOLDINGS LTD</name>
                <lei>254900N4SLUMW4XUYY11</lei>
                <title>ORDINARY SHARES</title>
                <cusip>G87572163</cusip>
                <identifiers>
                    <isin value="KYG875721634"/>
                </identifiers>
                <balance>19488</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127791444"/>
                <valUSD>721929.79</valUSD>
                <pctVal>3.862620003010</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>61302</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127791444"/>
                <valUSD>309883.85</valUSD>
                <pctVal>1.658005493332</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>31600</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127791444"/>
                <valUSD>70162.39</valUSD>
                <pctVal>0.375397517635</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>7062</balance>
                <units>NS</units>
                <currencyConditional curCd="KRW" exchangeRt=".000740439"/>
                <valUSD>206027.57</valUSD>
                <pctVal>1.102331866723</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>SABIC AGRI-NUTRIENTS CO</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="SA0007879139"/>
                </identifiers>
                <balance>580</balance>
                <units>NS</units>
                <currencyConditional curCd="SAR" exchangeRt=".266552937"/>
                <valUSD>20682.33</valUSD>
                <pctVal>0.110658934807</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>EMIRATES TELECOMMUNICATIONS GROUP CO PJSC</name>
                <lei>529900XDPQPWEQ9BGB80</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="AEE000401019"/>
                </identifiers>
                <balance>45048</balance>
                <units>NS</units>
                <currencyConditional curCd="AED" exchangeRt=".272257011"/>
                <valUSD>226410.57</valUSD>
                <pctVal>1.211389263456</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>58287</balance>
                <units>NS</units>
                <currencyConditional curCd="AED" exchangeRt=".272257011"/>
                <valUSD>163355.69</valUSD>
                <pctVal>0.874019834809</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>CHINA NATIONAL BUILDING MATERIAL CO LTD</name>
                <lei>52990085PGF8YEPLBZ26</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="CNE1000002N9"/>
                </identifiers>
                <balance>122000</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127791444"/>
                <valUSD>57968.62</valUSD>
                <pctVal>0.310155854850</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>ALDAR PROPERTIES PJSC</name>
                <lei>98450048CD8AEF13B480</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="AEA002001013"/>
                </identifiers>
                <balance>152413</balance>
                <units>NS</units>
                <currencyConditional curCd="AED" exchangeRt=".272257011"/>
                <valUSD>215858.39</valUSD>
                <pctVal>1.154930779393</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>GREENTOWN CHINA HOLDINGS LTD</name>
                <lei>529900BLBC6YDNWS8530</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="KYG4100M1050"/>
                </identifiers>
                <balance>46000</balance>
                <units>NS</units>
                <currencyConditional curCd="HKD" exchangeRt=".127791444"/>
                <valUSD>44586.18</valUSD>
                <pctVal>0.238554320810</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>KUMBA IRON ORE LTD</name>
                <lei>3789006C753402643048</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="ZAE000085346"/>
                </identifiers>
                <balance>2751</balance>
                <units>NS</units>
                <currencyConditional curCd="ZAR" exchangeRt=".053655265"/>
                <valUSD>72530.39</valUSD>
                <pctVal>0.388067287319</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>GRUPO AEROPORTUARIO DEL CENTRO NORTE SAB DE CV</name>
                <lei>529900HUSBARAFSXJ605</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="MX01OM000018"/>
                </identifiers>
                <balance>1100</balance>
                <units>NS</units>
                <currencyConditional curCd="MXN" exchangeRt=".055466193"/>
                <valUSD>8432.58</valUSD>
                <pctVal>0.045117756098</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>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>137520</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>137520</valUSD>
                <pctVal>0.735788313728</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=".027822216"/>
                <valUSD>7480.56</valUSD>
                <pctVal>0.040024059251</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>2023-12-21</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>
