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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CHICAGO BOARD OF TRADE</name>
        <lei>N/A</lei>
        <title>US 2YR NOTE (CBT) FUT DEC19 TUZ9</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="TUZ9"/>
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        <balance>8.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-4078.17000000</valUSD>
        <pctVal>-0.00612729489</pctVal>
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        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CHICAGO BOARD OF TRADE</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>UST NOTES</issuerName>
                <issueTitle>UNDERLYING TREASURY 2 YR NOTE GENERIC IV FOR FUTURES TRADING</issueTitle>
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                  <other otherDesc="Internal" value="9128279L8"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2019-12-31</expDate>
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            <unrealizedAppr>-4078.17000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LAGARDERE SCA</name>
        <lei>969500VX2NV2AQQ65G45</lei>
        <title>LAGARDERE SCA 2.75% 04/13/2023 REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0013153160"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
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        <pctVal>0.517911960575</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-04-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.02750000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF IRELAND GROUP PLC</name>
        <lei>635400C8EK6DRI12LJ39</lei>
        <title>BANK IRELAND GROUP PLC 3.125%/VAR 09/19/2027 REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1685476175"/>
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        <balance>450000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.81330568"/>
        <valUSD>546049.30000000</valUSD>
        <pctVal>0.820418247796</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-19</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.03125000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK NOVA SCOTIA BC</name>
        <lei>N/A</lei>
        <title>BANK OF NOVA SCOTIA 4.65%/VAR PERP</title>
        <cusip>064159KJ4</cusip>
        <identifiers>
          <isin value="US064159KJ44"/>
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        <balance>450000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>446737.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LAGARDERE SCA</name>
        <lei>969500VX2NV2AQQ65G45</lei>
        <title>LAGARDERE SCA 1.625% 06/21/2024 REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0013262912"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
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        <pctVal>0.499145956505</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-06-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.01625000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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      <invstOrSec>
        <name>GENERAL ELECTRIC CO</name>
        <lei>3C7474T6CDKPR9K6YT90</lei>
        <title>GENERAL ELECTRIC CO 0.375% 05/17/2022</title>
        <cusip>369604BR3</cusip>
        <identifiers>
          <isin value="XS1612542669"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
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        <pctVal>0.162811019288</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-05-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00375000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>CITIBANK, N.A.</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>CITI SWAP CDS 6/20/24 AKZAN B</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Bloomberg" value="COSP18138R"/>
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        <balance>1200000.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
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        <pctVal>-0.05545636312</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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              <counterpartyName>CITIBANK, N.A.</counterpartyName>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>AKZO NOBEL NV</issuerName>
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                  <isin value="XS1134519120"/>
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            <swapFlag>Y</swapFlag>
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            <upfrontRcpt>37692.16000000</upfrontRcpt>
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            <unrealizedAppr>-27.24000000</unrealizedAppr>
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        <securityLending>
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      <invstOrSec>
        <name>HUDSON PAC PPTYS LP</name>
        <lei>5493007NTUGLGZ8T3526</lei>
        <title>HUDSON PAC PPTYS LP 3.95% 11/01/2027</title>
        <cusip>44409MAA4</cusip>
        <identifiers>
          <isin value="US44409MAA45"/>
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        <balance>350000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>366713.83000000</valUSD>
        <pctVal>0.550973543691</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03950000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PLAINS ALL AM PIPELN/PAA FIN C</name>
        <lei>N/A</lei>
        <title>PLAINS ALL AMER PIPELINE 4.65% 10/15/2025</title>
        <cusip>72650RBJ0</cusip>
        <identifiers>
          <isin value="US72650RBJ05"/>
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        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>427959.50000000</valUSD>
        <pctVal>0.642992827054</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04650000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GOLDMAN SACHS BANK USA</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
        <title>FX Forward: USD/EUR settle 2019-11-27</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal FX transaction ID" value="170532"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>377068.83000000</valUSD>
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        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>GOLDMAN SACHS BANK USA</counterpartyName>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BARCLAYS PLC (UNGTD)</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>BARCLAYS PLC (UNGTD) 2/VAR 02/07/2028 REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1678970291"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-07</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.02000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JPMORGAN CHASE BANK NA NEW YORK NY</name>
        <lei>7H6GLXDRUGQFU57RNE97</lei>
        <title>FX Forward: USD/EUR settle 2019-11-26</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal FX transaction ID" value="170883"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>226151.74000000</valUSD>
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        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>JPMORGAN CHASE BANK NA NEW YORK NY</counterpartyName>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JPMORGAN CHASE BANK NA NEW YORK NY</name>
        <lei>7H6GLXDRUGQFU57RNE97</lei>
        <title>FX Forward: EUR/USD settle 2019-11-27</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal FX transaction ID" value="172764"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>-1376.47000000</valUSD>
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        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>JPMORGAN CHASE BANK NA NEW YORK NY</counterpartyName>
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      <invstOrSec>
        <name>EUREX DEUTSCHLAND</name>
        <lei>N/A</lei>
        <title>EURO-BOBL FUTURE DEC19 OEZ9</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE000C317NT9"/>
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        <balance>-10.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
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        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>EUREX DEUTSCHLAND</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>GERMANY FEDERAL REPUBLIC OF</issuerName>
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                  <other otherDesc="Internal" value="093992HR9"/>
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            <expDate>2019-12-06</expDate>
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            <unrealizedAppr>967.11000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JPMORGAN CHASE BANK NA NEW YORK NY</name>
        <lei>7H6GLXDRUGQFU57RNE97</lei>
        <title>FX Forward: USD/EUR settle 2019-11-27</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal FX transaction ID" value="170919"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>2092.84000000</valUSD>
        <pctVal>0.003144412282</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>JPMORGAN CHASE BANK NA NEW YORK NY</counterpartyName>
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            <amtCurSold>96000.00000000</amtCurSold>
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            <amtCurPur>107167.08000000</amtCurPur>
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            <settlementDt>2019-11-27</settlementDt>
            <unrealizedAppr>2092.84000000</unrealizedAppr>
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        <name>TLG IMMOBILIEN AG</name>
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        <name>AERCAP IRELAND CAP LTD / AERCAP GLOBAL AVIATION TR</name>
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      <invstOrSec>
        <name>LUMINOR BANK AS/ESTONIA</name>
        <lei>213800JD2L89GGG7LF07</lei>
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        <cusip>N/A</cusip>
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          <isin value="XS2013518472"/>
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        <invCountry>EE</invCountry>
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        <name>QBE INS GROUP LTD</name>
        <lei>549300D2FBW76FPUSG65</lei>
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        <identifiers>
          <isin value="XS1707749229"/>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>BANK OF AMERICA, N.A.</name>
        <lei>B4TYDEB6GKMZO031MB27</lei>
        <title>FX Forward: USD/GBP settle 2019-11-27</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal FX transaction ID" value="172835"/>
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        <curCd>N/A</curCd>
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      <invstOrSec>
        <name>SYDNEY FUTURES EXCHANGE LTD</name>
        <lei>N/A</lei>
        <title>AUST 10Y BOND FUT DEC19 XMZ9</title>
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        <name>CONAGRA BRANDS INC</name>
        <lei>54930035UDEIH090K650</lei>
        <title>CONAGRA BRANDS INC 4.6% 11/01/2025</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <name>BANK OF AMERICA, N.A.</name>
        <lei>B4TYDEB6GKMZO031MB27</lei>
        <title>FX Forward: USD/CAD settle 2019-11-27</title>
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        <identifiers>
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      <invstOrSec>
        <name>MONTREAL EXCHANGE (THE)</name>
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        <assetCat>DIR</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ALSTRIA OFFICE REIT-AG</name>
        <lei>529900QIJIGPI0DRL085</lei>
        <title>ALSTRIA OFFICE REIT-AG 0.5% 09/26/2025 REGS</title>
        <cusip>N/A</cusip>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>AVIVA  PLC</name>
        <lei>YF0Y5B0IB8SM0ZFG9G81</lei>
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          <isin value="XS0206511486"/>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UNICREDIT SPA</name>
        <lei>549300TRUWO2CD2G5692</lei>
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          <isin value="US904678AJ86"/>
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        <balance>700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>750892.53000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-01-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.06572000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>DASSAULT SYSTEMES SA</name>
        <lei>96950065LBWY0APQIM86</lei>
        <title>DASSAULT SYSTEMES SA 0.125% 09/16/2026 REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0013444544"/>
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        <balance>600000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
        <valUSD>652192.07000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00125000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>DANSKE BANK A/S</name>
        <lei>MAES062Z21O4RZ2U7M96</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2046595836"/>
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        <balance>550000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-27</maturityDt>
          <couponKind>Variable</couponKind>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CORPORATION</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK AMER FDG CORP 3.95% 04/21/2025</title>
        <cusip>06051GFP9</cusip>
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          <isin value="US06051GFP90"/>
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        <balance>215000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>228119.77000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-04-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03950000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>INDRA SISTEMAS</name>
        <lei>95980020140005308793</lei>
        <title>INDRA SISTEMAS 3% 04/19/2024 REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1809245829"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
        <valUSD>113714.48000000</valUSD>
        <pctVal>0.170851669310</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-04-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GOLDMAN SACHS BANK USA</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
        <title>FX Forward: EUR/USD settle 2019-11-27</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal FX transaction ID" value="172142"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>-1077.55000000</valUSD>
        <pctVal>-0.00161897777</pctVal>
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        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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              <counterpartyName>GOLDMAN SACHS BANK USA</counterpartyName>
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            <amtCurSold>71127.04000000</amtCurSold>
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            <amtCurPur>64000.00000000</amtCurPur>
            <curPur>EUR</curPur>
            <settlementDt>2019-11-27</settlementDt>
            <unrealizedAppr>-1077.55000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FORD MTR CR CO LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>FORD MTR CR CO LLC 1.514% 02/17/2023</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2013574202"/>
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        <balance>600000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
        <valUSD>652676.45000000</valUSD>
        <pctVal>0.980621474081</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-02-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.01514000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LONDON CLEARING HOUSE</name>
        <lei>N/A</lei>
        <title>LCH IRS 6MEURV01.25 MAC 12/18/39</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Bloomberg" value="COSLNZL79T"/>
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        <balance>560000.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
        <valUSD>56140.56000000</valUSD>
        <pctVal>0.084349050288</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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              <counterpartyName>LONDON CLEARING HOUSE</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="0.00000000" curCd="EUR" fixedOrFloating="Fixed" fixedRt="0.01250000"/>
            <floatingPmntDesc curCd="EUR" fixedOrFloating="Floating" floatingRtIndex="EURIBOR (6 MO) RATE" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
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            <pmntCurCd>EUR</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>EUR</rcptCurCd>
            <notionalAmt>704396.03000000</notionalAmt>
            <curCd>EUR</curCd>
            <unrealizedAppr>56140.56000000</unrealizedAppr>
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        <securityLending>
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      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
        <lei>G5GSEF7VJP5I7OUK5573</lei>
        <title>BARCLAYS 7.625% 11/21/22</title>
        <cusip>06740L8C2</cusip>
        <identifiers>
          <isin value="US06740L8C27"/>
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        <balance>778000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>857745.00000000</valUSD>
        <pctVal>1.288729149467</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED KINGDOM,G.B. and N.IRELAND</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
        <title>UK GILT 4.25% 12/7/49 REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00B39R3707"/>
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        <balance>277000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.81330568"/>
        <valUSD>632890.69000000</valUSD>
        <pctVal>0.950894124278</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04250000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ILIAD GROUP SA</name>
        <lei>969500FZ9BTRZS3JNB97</lei>
        <title>ILIAD GROUP SA 0.625% 11/25/2021 REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0013331188"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
        <valUSD>544992.44000000</valUSD>
        <pctVal>0.818830355953</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-11-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00625000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GOLDMAN SACHS BANK USA</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
        <title>GSCM ITXEX531 PAY 275 11/20/19</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Bloomberg" value="COSP9W2Y4X"/>
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        <balance>1250000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
        <valUSD>11482.42000000</valUSD>
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        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <writtenOrPur>Purchased</writtenOrPur>
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                    <counterpartyLei>KD3XUN7C6T14HNAYLU02</counterpartyLei>
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                    <name>GOLDMAN SACHS BANK USA</name>
                    <lei>KD3XUN7C6T14HNAYLU02</lei>
                    <title>GSCM SWAP ITRAXX EUROPECROSSOV</title>
                    <cusip>N/A</cusip>
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                      <other otherDesc="Internal" value="FAB813000"/>
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                    <balance>N/A</balance>
                    <units>NC</units>
                    <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
                    <valUSD>N/A</valUSD>
                    <pctVal>N/A</pctVal>
                    <assetCat>DCR</assetCat>
                    <issuerCat>CORP</issuerCat>
                    <invCountry>US</invCountry>
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                  <descRefInstrmnt>
                    <indexBasketInfo>
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                      <indexIdentifier>ITXEX531</indexIdentifier>
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                  <fixedPmntDesc amount="0.00000000" curCd="EUR" fixedOrFloating="Fixed" fixedRt="0.05000000"/>
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                  <upfrontRcpt>0.00000000</upfrontRcpt>
                  <rcptCurCd>EUR</rcptCurCd>
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                  <curCd>EUR</curCd>
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            <exercisePrice>275.00000000</exercisePrice>
            <exercisePriceCurCd>EUR</exercisePriceCurCd>
            <expDt>2019-11-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>1149.50000000</unrealizedAppr>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY 4.35% 09/08/2026</title>
        <cusip>6174467Y9</cusip>
        <identifiers>
          <isin value="US6174467Y92"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>216825.84000000</valUSD>
        <pctVal>0.325772555206</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04350000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS BANK USA</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
        <title>FX Forward: USD/EUR settle 2019-11-27</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal FX transaction ID" value="173702"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIBANK, N.A.</name>
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          <other otherDesc="Bloomberg" value="COSP18138T"/>
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        <fairValLevel>2</fairValLevel>
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                <issuerName>VOLVO TREAS AB</issuerName>
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      </invstOrSec>
      <invstOrSec>
        <name>CEMEX SAB DE CV</name>
        <lei>549300RIG2CXWN6IV731</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1964617879"/>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>BARCLAYS PLC (UNGTD)</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>BARCLAYS PLC (UNGTD) 2.625/VAR 11/11/2025 REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1319647068"/>
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        <balance>350000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
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        <pctVal>0.580141737287</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-11</maturityDt>
          <couponKind>Variable</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIBANK, N.A.</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>CITI ITXEX531 PAY 275 12/18/19</title>
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          <other otherDesc="Bloomberg" value="COSPA057GJ"/>
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        <balance>9250000.00000000</balance>
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        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="SWO">
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              <counterpartyName>CITIBANK, N.A.</counterpartyName>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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                    <name>CITIBANK, N.A.</name>
                    <lei>E57ODZWZ7FF32TWEFA76</lei>
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                    <identifiers>
                      <other otherDesc="Internal" value="FAD024000"/>
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                    <balance>N/A</balance>
                    <units>NC</units>
                    <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
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                    <pctVal>N/A</pctVal>
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                    <issuerCat>CORP</issuerCat>
                    <invCountry>US</invCountry>
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                    <indexBasketInfo>
                      <indexName>N/A</indexName>
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            <shareNo>1.00000000</shareNo>
            <exercisePrice>275.00000000</exercisePrice>
            <exercisePriceCurCd>EUR</exercisePriceCurCd>
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            <delta>XXXX</delta>
            <unrealizedAppr>46573.70000000</unrealizedAppr>
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      </invstOrSec>
      <invstOrSec>
        <name>MARKS and SPENCER PLC</name>
        <lei>213800CN1RI3UCIZWB95</lei>
        <title>MARKS and SPENCER PLC 3.25% 07/10/2027 REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2024535036"/>
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        <balance>450000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.81330568"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>WILLIS NORTH AMERICA INC</name>
        <lei>5493004KVU1HWZCP0C66</lei>
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        <cusip>970648AF8</cusip>
        <identifiers>
          <isin value="US970648AF88"/>
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        <balance>505000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>524826.03000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03600000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>GRAND CITY PROPERTIES SA</name>
        <lei>5299002QLUYKK2WBMB18</lei>
        <title>GRAND CITY PROPERTIES SA 3.75/VAR PERP</title>
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        <identifiers>
          <isin value="XS1191320297"/>
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        <balance>500000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
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        <pctVal>0.872353937113</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GOLDMAN SACHS BANK USA</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
        <title>GSCM SWAP CDS 12/20/24 CMZB B</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Bloomberg" value="COSP2S12II"/>
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        <balance>750000.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
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        <pctVal>0.040901954971</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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              <counterpartyName>GOLDMAN SACHS BANK USA</counterpartyName>
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                <issuerName>COMMERZBANK AG</issuerName>
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                  <isin value="DE000CB83CF0"/>
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            <swapFlag>Y</swapFlag>
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      <invstOrSec>
        <name>BLACKSTONE PROPERTY PARTNERS EUROPE HOLDINGS SARL</name>
        <lei>213800Y3B5GQFBGVHP79</lei>
        <title>BLACKSTONE PROP PARTNERS EUR HOLD 1.75% 03/12/2029 REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2051670300"/>
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        <balance>550000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
        <valUSD>601335.66000000</valUSD>
        <pctVal>0.903483895162</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ARES CAPITAL CORP</name>
        <lei>WEQ82666OJYSI5GUAB47</lei>
        <title>ARES CAPITAL CORP 4.25% 03/01/2025</title>
        <cusip>04010LAV5</cusip>
        <identifiers>
          <isin value="US04010LAV53"/>
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        <balance>650000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>669475.63000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04250000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PETROLEOS MEXICANOS</name>
        <lei>549300CAZKPF4HKMPX17</lei>
        <title>PETROLEOS MEXICANOS 3.75% 02/21/2024 REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1568874983"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
        <valUSD>1131163.73000000</valUSD>
        <pctVal>1.699530363536</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-02-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03750000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SITE CENTERS CORP</name>
        <lei>W2AVA6SODOQ1LCYJQR54</lei>
        <title>DDR CORP 4.7% 06/01/2027</title>
        <cusip>23317HAF9</cusip>
        <identifiers>
          <isin value="US23317HAF91"/>
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        <balance>550000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>602440.26000000</valUSD>
        <pctVal>0.905143514534</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04700000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CHICAGO BOARD OF TRADE</name>
        <lei>N/A</lei>
        <title>US 10YR ULTRA FUT DEC19 UXYZ9</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="UXYZ9"/>
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        <balance>4.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1492.37000000</valUSD>
        <pctVal>0.002242229008</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CHICAGO BOARD OF TRADE</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>UST NOTES</issuerName>
                <issueTitle>$US 10YR NOTE ULTRA FUT CONTRACT UNDERLYING</issueTitle>
                <identifiers>
                  <other otherDesc="Internal" value="AGE201000"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2019-12-19</expDate>
            <notionalAmt>568132.63000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>1492.37000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
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          <isin value="DE000C317NS1"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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            <payOffProf>Short</payOffProf>
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                <issuerName>GERMANY FEDERAL REPUBLIC OF</issuerName>
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      <invstOrSec>
        <name>IMPERIAL TOBACCO FINANCE</name>
        <lei>2138008L3B3MCG1DFS50</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AVIVA  PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LONDON CLEARING HOUSE</name>
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          <other otherDesc="Bloomberg" value="COSLS038MN"/>
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        <fairValLevel>2</fairValLevel>
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        <name>CITIBANK, N.A.</name>
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          <other otherDesc="Internal FX transaction ID" value="173474"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SAMVARDHANA MOTHERSON AUTOMOTIVE SYSTEMS GROUP B.V</name>
        <lei>7245003HPQ1HG4CHTL79</lei>
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          <isin value="XS1635870923"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CITIBANK, N.A.</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
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        <fairValLevel>2</fairValLevel>
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                    <balance>N/A</balance>
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                    <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
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      <invstOrSec>
        <name>CHICAGO BOARD OF TRADE</name>
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        <title>US LONG BOND(CBT) FUT DEC19 USZ9</title>
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        <identifiers>
          <ticker value="USZ9"/>
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        <balance>32.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-57473.54000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>UST NOTES</issuerName>
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            <expDate>2019-12-19</expDate>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>EXPRESS SCRIPTS HLDG CO</name>
        <lei>5493003UA6VMND084504</lei>
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        <cusip>30219GAN8</cusip>
        <identifiers>
          <isin value="US30219GAN88"/>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>MILLICOM INTL CELLULAR SA</name>
        <lei>549300CTHC1CP86P2G96</lei>
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          <isin value="US600814AP20"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>BNP PARIBAS</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
        <title>FX Forward: USD/EUR settle 2019-11-27</title>
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        <identifiers>
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        <curCd>N/A</curCd>
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      <invstOrSec>
        <name>DOLPHIN SUBSIDIARY II INC</name>
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          <isin value="US256882AD30"/>
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      <invstOrSec>
        <name>CHICAGO BOARD OF TRADE</name>
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        <title>US 10YR NOTE FUT (CBT) DEC19 TYZ9</title>
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          <ticker value="TYZ9"/>
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        <units>NC</units>
        <curCd>USD</curCd>
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        <fairValLevel>1</fairValLevel>
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                <issuerName>UST NOTES</issuerName>
                <issueTitle>UNDERLYING TREASURY 10 YR NOTEGENERIC IV FOR FUTURES TRADING</issueTitle>
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            <expDate>2019-12-19</expDate>
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      </invstOrSec>
      <invstOrSec>
        <name>NYKREDIT REALKREDIT AS</name>
        <lei>LIU16F6VZJSD6UKHD557</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1073143932"/>
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        <balance>500000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>DK</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AT and T INC</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT and T INC 5.45% 03/01/2047</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-03-01</maturityDt>
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      <invstOrSec>
        <name>CYBG PLC</name>
        <lei>213800ZK9VGCYYR6O495</lei>
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        <identifiers>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CENOVUS ENERGY INC</name>
        <lei>549300DK79J32SE1QE52</lei>
        <title>CENOVUS ENERGY INC 3% 8/15/22</title>
        <cusip>15135UAG4</cusip>
        <identifiers>
          <isin value="US15135UAG40"/>
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        <balance>373000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>375414.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>TEVA PHARMACEUTICAL FINANCE NETHERLANDS II BV</name>
        <lei>549300HSQCIKJAOYIT23</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1813724603"/>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BARCLAYS PLC (UNGTD)</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>BARCLAYS PLC (UNGTD) 3ML+161/VAR 05/07/2025</title>
        <cusip>06738EBH7</cusip>
        <identifiers>
          <isin value="US06738EBH71"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-05-07</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>CREDIT AGRICOLE ASSURANCES SA</name>
        <lei>969500K2MUPSI57XK083</lei>
        <title>CREDIT AGRICOLE ASSURANCES SA 4.25/VAR PERP REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0012444750"/>
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        <balance>500000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BAYER US FINANCE II LLC</name>
        <lei>529900XWNEXYNJ3X6T40</lei>
        <title>BAYER US FIN II LLC 4.25% 12/15/2025 144A</title>
        <cusip>07274NAJ2</cusip>
        <identifiers>
          <isin value="US07274NAJ28"/>
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        <balance>700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>747334.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04250000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TIME WARNER CABLE INC</name>
        <lei>B1WXCWLJVJXMWJX6O298</lei>
        <title>TIME WARNER CAB 4.5% 9/15/42</title>
        <cusip>88732JBD9</cusip>
        <identifiers>
          <isin value="US88732JBD90"/>
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        <balance>505000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>496613.07000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>BLACKSTONE PROPERTY PARTNERS EUROPE HOLDINGS SARL</name>
        <lei>213800Y3B5GQFBGVHP79</lei>
        <title>BLACKSTONE PROP PARTNERS EUR HOLD 2.2% 07/24/2025 REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1851268893"/>
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        <balance>550000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.02200000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>ORSTED A/S</name>
        <lei>W9NG6WMZIYEU8VEDOG48</lei>
        <title>ORSTED A/S 2.125% 05/17/2027 REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1997070781"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.81330568"/>
        <valUSD>259794.08000000</valUSD>
        <pctVal>0.390330697066</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.02125000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DISCOVER FINANCIAL SVS</name>
        <lei>Z1YLO2USPORE63VVUL20</lei>
        <title>DISCOVER FINANCIAL SVS 3.75% 03/04/25</title>
        <cusip>254709AL2</cusip>
        <identifiers>
          <isin value="US254709AL28"/>
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        <balance>550000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>575409.22000000</valUSD>
        <pctVal>0.864530407855</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03750000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GOLDMAN SACHS BANK USA</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
        <title>FX Forward: USD/EUR settle 2019-11-27</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal FX transaction ID" value="171698"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>472.52000000</valUSD>
        <pctVal>0.000709943278</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <amtCurPur>38780.84000000</amtCurPur>
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            <settlementDt>2019-11-27</settlementDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GENERAL ELECTRIC CO</name>
        <lei>3C7474T6CDKPR9K6YT90</lei>
        <title>GENERAL ELECTRIC CO 1.25% 05/26/2023</title>
        <cusip>369604BK8</cusip>
        <identifiers>
          <isin value="XS1238901166"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
        <valUSD>111125.85000000</valUSD>
        <pctVal>0.166962351461</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-05-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.01250000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EMERA US FINANCE LP</name>
        <lei>N/A</lei>
        <title>EMERA US FINANCE LP 3.55% 06/15/2026</title>
        <cusip>29103DAJ5</cusip>
        <identifiers>
          <isin value="US29103DAJ54"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>523715.18000000</valUSD>
        <pctVal>0.786862084284</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03550000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANCO BILBAO VIZCAYA ARGENTARIA S.A</name>
        <lei>K8MS7FD7N5Z2WQ51AZ71</lei>
        <title>BANCO BILBAO VIZ ARGENTARIA SA 5.875/VAR PERP REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="ES0813211002"/>
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        <balance>400000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
        <valUSD>461048.85000000</valUSD>
        <pctVal>0.692708313453</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NATIONWIDE BUILDING SOCIETY</name>
        <lei>549300XFX12G42QIKN82</lei>
        <title>NATIONWIDE BUILDING SOC(UNGTD) 3.622/VAR 04/26/2023 144A</title>
        <cusip>63861VAD9</cusip>
        <identifiers>
          <isin value="US63861VAD91"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>203895.59000000</valUSD>
        <pctVal>0.306345347720</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-04-26</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.03622000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIBANK, N.A.</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>FX Forward: GBP/USD settle 2019-11-27</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal FX transaction ID" value="173834"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>-346.41000000</valUSD>
        <pctVal>-0.00052046781</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>CITIBANK, N.A.</counterpartyName>
              <counterpartyLei>E57ODZWZ7FF32TWEFA76</counterpartyLei>
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            <amtCurSold>74283.67000000</amtCurSold>
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            <amtCurPur>60000.00000000</amtCurPur>
            <curPur>GBP</curPur>
            <settlementDt>2019-11-27</settlementDt>
            <unrealizedAppr>-346.41000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>REYNOLDS AMERICAN INC</name>
        <lei>02S2RPPVO9RP4NEU2740</lei>
        <title>REYNOLDS AMERICAN INC 4.45% 06/12/2025</title>
        <cusip>761713BG0</cusip>
        <identifiers>
          <isin value="US761713BG06"/>
        </identifiers>
        <balance>1279000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1364516.72000000</valUSD>
        <pctVal>2.050134331298</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04450000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GENERALI FINANCE BV</name>
        <lei>724500SJJXADYHYHO803</lei>
        <title>GENERALI FINANCE BV 4.596%/VAR PERP REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1140860534"/>
        </identifiers>
        <balance>150000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
        <valUSD>178669.57000000</valUSD>
        <pctVal>0.268444214751</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WPC EUROBOND BV</name>
        <lei>5493005XDMOLBARL5M14</lei>
        <title>WPC EUROBOND BV 2.25% 04/09/2026</title>
        <cusip>92940NAC3</cusip>
        <identifiers>
          <isin value="XS1843459600"/>
        </identifiers>
        <balance>300000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
        <valUSD>353113.06000000</valUSD>
        <pctVal>0.530538905478</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.02250000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BARCLAYS PLC (UNGTD)</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>BARCLAYS PLC (UNGTD) 6.375/VAR PERP REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2049810356"/>
        </identifiers>
        <balance>350000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.81330568"/>
        <valUSD>432855.70000000</valUSD>
        <pctVal>0.650349180820</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2199-12-31</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.06375000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SAMHALLSBYGGNADSBOLAGET I NORDEN AB</name>
        <lei>549300HX9MRFY47AH564</lei>
        <title>SAMHALLSBYGGNADSBOLAGET I NORDEN AB 4.625%/VAR PERP REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1974894138"/>
        </identifiers>
        <balance>430000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
        <valUSD>504138.71000000</valUSD>
        <pctVal>0.757449184725</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UST NOTES</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UST NOTES 2.625% 02/15/2029</title>
        <cusip>9128286B1</cusip>
        <identifiers>
          <isin value="US9128286B18"/>
        </identifiers>
        <balance>135000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>146148.05000000</valUSD>
        <pctVal>0.219581871270</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.02625000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JOHN LEWIS PLC</name>
        <lei>213800JSUFNZLZLCVJ25</lei>
        <title>JOHN LEWIS PLC 6.125% 1/21/25</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS0527985583"/>
        </identifiers>
        <balance>236000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.81330568"/>
        <valUSD>330690.77000000</valUSD>
        <pctVal>0.496850269904</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-01-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.06125000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CPI PROPERTY GROUP SA</name>
        <lei>222100CO2ZOTEPGJO223</lei>
        <title>CPI PROPERTY GROUP SA 4.375/VAR PERP REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1819537132"/>
        </identifiers>
        <balance>300000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
        <valUSD>333025.72000000</valUSD>
        <pctVal>0.500358443227</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GRUMA SAB DE CV</name>
        <lei>5493000XJLJ6C4T0PG82</lei>
        <title>GRUMA SAB DE CV 4.875% 12/1/24 REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="USP4948KAD74"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>215687.50000000</valUSD>
        <pctVal>0.324062242771</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04875000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HEIMSTADEN BOSTAD AB</name>
        <lei>549300TJR3PR8EXILG79</lei>
        <title>HEIMSTADEN BOSTAD AB 1.75% 12/07/2021 REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1918007458"/>
        </identifiers>
        <balance>760000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
        <valUSD>853511.07000000</valUSD>
        <pctVal>1.282367831117</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-12-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.01750000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DEUTSCHE BANK AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>DEUTSCHE BANK AG 6%/VAR PERP RGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE000DB7XHP3"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
        <valUSD>193862.87000000</valUSD>
        <pctVal>0.291271568552</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>YPF SOCIEDAD ANONIMA</name>
        <lei>5493003N7447U18U5U53</lei>
        <title>YPF SOCIEDAD ANONIMA 8.5% 03/23/2021 REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="USP989MJBG51"/>
        </identifiers>
        <balance>560000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>483280.00000000</valUSD>
        <pctVal>0.726109768468</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-03-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.08500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CLOVERIE PLC</name>
        <lei>5493002N598MXOKUEF55</lei>
        <title>CLOVERIE PLC 4.5/VAR 09/11/2044 REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1108784510"/>
        </identifiers>
        <balance>465000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>481275.00000000</valUSD>
        <pctVal>0.723097332435</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-09-11</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.04500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BAYER AG</name>
        <lei>549300J4U55H3WP1XT59</lei>
        <title>BAYER AG 0 04/02/2075 REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE000A14J611"/>
        </identifiers>
        <balance>1800000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
        <valUSD>1982918.13000000</valUSD>
        <pctVal>2.979258864975</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2075-04-02</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.02375000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SAMHALLSBYGGNADSBOLAGET I NORDEN AB</name>
        <lei>549300HX9MRFY47AH564</lei>
        <title>SAMHALLSBYGGNADSBOLAGET I NORDEN AB 1.75% 01/14/2025 REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1993969515"/>
        </identifiers>
        <balance>710000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
        <valUSD>802296.44000000</valUSD>
        <pctVal>1.205419802787</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-01-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.01750000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DELL INTERNATIONAL LLC / EMC CORP</name>
        <lei>N/A</lei>
        <title>DIAMOND 1 FINANCE CORP / DIAMOND 2 FINANCE CORP 5.45% 06/15/2023 144A</title>
        <cusip>25272KAG8</cusip>
        <identifiers>
          <isin value="US25272KAG85"/>
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        <balance>600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>653353.82000000</valUSD>
        <pctVal>0.981639196672</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05450000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CITIBANK, N.A.</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>CITI SWAP CDS 12/20/24 LDOIM B</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Bloomberg" value="COSP2S12G4"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
        <valUSD>-116868.47000000</valUSD>
        <pctVal>-0.17559041899</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>CITIBANK, N.A.</counterpartyName>
              <counterpartyLei>E57ODZWZ7FF32TWEFA76</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>LEONARDO SPA</issuerName>
                <issueTitle>LEONARDO SPA 1.5% 06/07/2024 REGS</issueTitle>
                <identifiers>
                  <isin value="XS1627782771"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="0.00000000" curCd="EUR" fixedOrFloating="Fixed" fixedRt="0.00000000"/>
            <fixedPmntDesc amount="0.00000000" curCd="EUR" fixedOrFloating="Fixed" fixedRt="0.05000000"/>
            <terminationDt>2024-12-20</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>EUR</pmntCurCd>
            <upfrontRcpt>118869.78000000</upfrontRcpt>
            <rcptCurCd>EUR</rcptCurCd>
            <notionalAmt>500000.00000000</notionalAmt>
            <curCd>EUR</curCd>
            <unrealizedAppr>1517.72000000</unrealizedAppr>
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      <invstOrSec>
        <name>GERMANY FEDERAL REPUBLIC OF</name>
        <lei>529900AQBND3S6YJLY83</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>ELANCO ANIMAL HEALTH INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>INTERCONTINENTAL EXCHANGE</name>
        <lei>N/A</lei>
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          <other otherDesc="Bloomberg" value="COSP1A3OLD"/>
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        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
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            <descRefInstrmnt>
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        <name>VOLKSWAGEN INTL FINANCE NV</name>
        <lei>5299004PWNHKYTR23649</lei>
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          <isin value="XS1629658755"/>
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        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
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        <assetCat>EP</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <name>GOLDMAN SACHS GROUP INC (THE)</name>
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        <cusip>38141GVR2</cusip>
        <identifiers>
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        <curCd>USD</curCd>
        <valUSD>564939.48000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UNITED STATES TREASURY BOND</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TREASURY BOND 2.50% 02/15/2045</title>
        <cusip>912810RK6</cusip>
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        <balance>13000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>BAYER AG</name>
        <lei>549300J4U55H3WP1XT59</lei>
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        <identifiers>
          <isin value="DE000A11QR65"/>
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        <balance>100000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>BNP PARIBAS</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
        <title>BNPS SWAP CDS 6/20/22 GASSM B</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Bloomberg" value="COSP1A5CC1"/>
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        <balance>500000.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
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        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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                <issuerName>GAS NATURAL CAPITAL MARKETS SA</issuerName>
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      <invstOrSec>
        <name>STATE STREET BANK AND TRUST COMPANY</name>
        <lei>571474TGEMMWANRLN572</lei>
        <title>FX Forward: GBP/USD settle 2019-11-27</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal FX transaction ID" value="172823"/>
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        <curCd>N/A</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>VOYA FINANCIAL INC</name>
        <lei>549300T065Z4KJ686G75</lei>
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        <cusip>929089AB6</cusip>
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          <isin value="US929089AB68"/>
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        <balance>575000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY 5.0% 11/24/2025</title>
        <cusip>6174467X1</cusip>
        <identifiers>
          <isin value="US6174467X10"/>
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        <balance>355000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>397773.05000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>AERCAP IRELAND CAP LTD / AERCAP GLOBAL AVIATION TR</name>
        <lei>N/A</lei>
        <title>AERCAP IRELAND CAP LTD / AERCAP GLOBAL AVIATION TR 4.625% 07/01/2022</title>
        <cusip>00772BAP6</cusip>
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          <isin value="US00772BAP67"/>
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        <curCd>USD</curCd>
        <valUSD>221752.34000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04625000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>MICHAEL KORS (USA) INC</name>
        <lei>549300MIBZ1H6BCOET19</lei>
        <title>MICHAEL KORS USA INC 4% 11/01/2024 144A</title>
        <cusip>59408TAA8</cusip>
        <identifiers>
          <isin value="US59408TAA88"/>
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        <balance>212000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>216871.86000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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      <invstOrSec>
        <name>GOLDMAN SACHS BANK USA</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
        <title>FX Forward: USD/GBP settle 2019-11-27</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal FX transaction ID" value="171434"/>
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        <units>NC</units>
        <curCd>N/A</curCd>
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              <counterpartyName>GOLDMAN SACHS BANK USA</counterpartyName>
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        <name>FIDELITY REVERE STREET TRUST</name>
        <lei>549300BDV45LJNXBZC55</lei>
        <title>Fidelity Cash Central Fund</title>
        <cusip>31635A105</cusip>
        <identifiers>
          <isin value="US31635A1051"/>
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        <balance>625346.43300000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>625471.50000000</valUSD>
        <pctVal>0.939747074260</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>VONOVIA FINANCE BV</name>
        <lei>5299009XLZLD9TALOZ03</lei>
        <title>DEUTSCHE ANNINGTON FINANCE BV 5.0% 10/02/2023 144A</title>
        <cusip>25155FAB2</cusip>
        <identifiers>
          <isin value="US25155FAB22"/>
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        <balance>314000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>331032.89000000</valUSD>
        <pctVal>0.497364292156</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>PETROLEOS MEXICANOS</name>
        <lei>549300CAZKPF4HKMPX17</lei>
        <title>PETROLEOS MEXICANOS 3.625% 11/24/2025 REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1824425182"/>
        </identifiers>
        <balance>270000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
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        <pctVal>0.445470401327</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03625000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LONDON CLEARING HOUSE</name>
        <lei>N/A</lei>
        <title>LCH IRS 6MEURV0.75 MAC 12/18/29</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Bloomberg" value="COSLS01GIN"/>
        </identifiers>
        <balance>1610000.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
        <valUSD>77690.55000000</valUSD>
        <pctVal>0.116727088380</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>LONDON CLEARING HOUSE</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="0.00000000" curCd="EUR" fixedOrFloating="Fixed" fixedRt="0.00750000"/>
            <floatingPmntDesc curCd="EUR" fixedOrFloating="Floating" floatingRtIndex="EURIBOR (6 MO) RATE" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
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                <rtResetTenor rateTenor="Month" rateTenorUnit="6" resetDt="Month" resetDtUnit="6"/>
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            <terminationDt>2029-12-18</terminationDt>
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            <pmntCurCd>EUR</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>EUR</rcptCurCd>
            <notionalAmt>1879228.53000000</notionalAmt>
            <curCd>EUR</curCd>
            <unrealizedAppr>77690.55000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHICAGO BOARD OF TRADE</name>
        <lei>N/A</lei>
        <title>US 5YR NOTE (CBT) FUT DEC19 FVZ9</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="FVZ9"/>
        </identifiers>
        <balance>-54.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>34485.20000000</valUSD>
        <pctVal>0.051812697789</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CHICAGO BOARD OF TRADE</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>UST NOTES</issuerName>
                <issueTitle>UNDERLYING TREAS 5 YEAR NOTE GENERIC IV FOR FUTURES TRADING</issueTitle>
                <identifiers>
                  <other otherDesc="Internal" value="9128279K0"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2019-12-31</expDate>
            <notionalAmt>-6468500.83000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>34485.20000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LOGICOR FINANCING SARL</name>
        <lei>254900IS16Q1A2TQFN22</lei>
        <title>LOGICOR FINANCING SARL 1.625% 07/15/2027 REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2027364327"/>
        </identifiers>
        <balance>610000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
        <valUSD>677403.62000000</valUSD>
        <pctVal>1.017773103951</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.01625000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN CHASE BANK NA NEW YORK NY</name>
        <lei>7H6GLXDRUGQFU57RNE97</lei>
        <title>FX Forward: USD/GBP settle 2019-11-27</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal FX transaction ID" value="170529"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>-17915.33000000</valUSD>
        <pctVal>-0.02691710006</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>JPMORGAN CHASE BANK NA NEW YORK NY</counterpartyName>
              <counterpartyLei>7H6GLXDRUGQFU57RNE97</counterpartyLei>
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            <amtCurSold>6278000.00000000</amtCurSold>
            <curSold>GBP</curSold>
            <amtCurPur>7718386.65000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2019-11-27</settlementDt>
            <unrealizedAppr>-17915.33000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CB RICHARD ELLIS SERVICES INC</name>
        <lei>549300CTE3HOMEUMM603</lei>
        <title>CBRE SERVICES INC 4.875% 03/01/26</title>
        <cusip>12505BAD2</cusip>
        <identifiers>
          <isin value="US12505BAD29"/>
        </identifiers>
        <balance>190000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>211012.58000000</valUSD>
        <pctVal>0.317038353765</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04875000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CREDIT SUISSE AG</name>
        <lei>ANGGYXNX0JLX3X63JN86</lei>
        <title>CREDIT SUISSE AG 6.5% 08/08/2023 REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS0957135212"/>
        </identifiers>
        <balance>1050000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1168125.00000000</valUSD>
        <pctVal>1.755063262067</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-08-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.06500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STICHTING AK RABOBANK CERTIFICATEN</name>
        <lei>DG3RU1DBUFHT4ZF9WN62</lei>
        <title>STICHTING AK RABOBANK CERTIFICATEN 6.5% PERP REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1002121454"/>
        </identifiers>
        <balance>325000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
        <valUSD>444740.47000000</valUSD>
        <pctVal>0.668205594479</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNUM GROUP</name>
        <lei>549300E32YFDO6TZ8R31</lei>
        <title>UNUM GROUP 4.0% 03/15/2024</title>
        <cusip>91529YAK2</cusip>
        <identifiers>
          <isin value="US91529YAK29"/>
        </identifiers>
        <balance>755000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>797716.87000000</valUSD>
        <pctVal>1.198539173520</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INTERCONTINENTAL EXCHANGE</name>
        <lei>N/A</lei>
        <title>ICE CDX ITXES525 06/20/21</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Bloomberg" value="COSP3A3JQR"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
        <valUSD>14029.28000000</valUSD>
        <pctVal>0.021078458145</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>INTERCONTINENTAL EXCHANGE</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>ITRAXX EUR SNR FI S25 06/20/21</indexName>
                <indexIdentifier>ITXES525</indexIdentifier>
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            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="0.00000000" curCd="EUR" fixedOrFloating="Fixed" fixedRt="0.01000000"/>
            <fixedPmntDesc amount="0.00000000" curCd="EUR" fixedOrFloating="Fixed" fixedRt="0.00000000"/>
            <terminationDt>2021-06-20</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>EUR</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>EUR</rcptCurCd>
            <notionalAmt>1123265.23000000</notionalAmt>
            <curCd>EUR</curCd>
            <unrealizedAppr>14029.28000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LONDON CLEARING HOUSE</name>
        <lei>N/A</lei>
        <title>LCH IRS 6MEURV01.25 MAC 12/18/34</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Bloomberg" value="COSLRV1LOY"/>
        </identifiers>
        <balance>1100000.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
        <valUSD>128942.23000000</valUSD>
        <pctVal>0.193730782923</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>LONDON CLEARING HOUSE</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="0.00000000" curCd="EUR" fixedOrFloating="Fixed" fixedRt="0.01250000"/>
            <floatingPmntDesc curCd="EUR" fixedOrFloating="Floating" floatingRtIndex="EURIBOR (6 MO) RATE" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="6" resetDt="Month" resetDtUnit="6"/>
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            <terminationDt>2034-12-18</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>EUR</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>EUR</rcptCurCd>
            <notionalAmt>1315688.26000000</notionalAmt>
            <curCd>EUR</curCd>
            <unrealizedAppr>128942.23000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TLG FINANCE SARL</name>
        <lei>549300VIITIKUS3JVN97</lei>
        <title>TLG FINANCE SARL 3.375%/VAR PERP REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2055106210"/>
        </identifiers>
        <balance>800000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
        <valUSD>888527.24000000</valUSD>
        <pctVal>1.334978291081</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2199-12-31</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.03375000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS BANK USA</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
        <title>GSCM SWAP CDS 6/20/21 STANLN B</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="STANLN"/>
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        <balance>550000.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
        <valUSD>-8039.46000000</valUSD>
        <pctVal>-0.01207898203</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>GOLDMAN SACHS BANK USA</counterpartyName>
              <counterpartyLei>KD3XUN7C6T14HNAYLU02</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>STANDARD CHARTERED PLC</issuerName>
                <issueTitle>STANDARD CHARTERED PLC 3.125% 11/19/2024 REGS</issueTitle>
                <identifiers>
                  <isin value="XS1140857316"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="0.00000000" curCd="EUR" fixedOrFloating="Fixed" fixedRt="0.00000000"/>
            <fixedPmntDesc amount="0.00000000" curCd="EUR" fixedOrFloating="Fixed" fixedRt="0.01000000"/>
            <terminationDt>2021-06-20</terminationDt>
            <upfrontPmnt>18991.89000000</upfrontPmnt>
            <pmntCurCd>EUR</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>EUR</rcptCurCd>
            <notionalAmt>550000.00000000</notionalAmt>
            <curCd>EUR</curCd>
            <unrealizedAppr>-27155.99000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIGROUP INC</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP INC 4.45% 09/29/27</title>
        <cusip>172967KA8</cusip>
        <identifiers>
          <isin value="US172967KA87"/>
        </identifiers>
        <balance>600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>654623.98000000</valUSD>
        <pctVal>0.983547563630</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04450000</annualizedRt>
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        <name>DANSKE BANK A/S</name>
        <lei>MAES062Z21O4RZ2U7M96</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CLECO CORPORATE HLDGS LLC</name>
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      <invstOrSec>
        <name>BRANDYWINE OPER PARTNERSHIP LP</name>
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          <isin value="US105340AN33"/>
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      <invstOrSec>
        <name>STATE STREET BANK AND TRUST COMPANY</name>
        <lei>571474TGEMMWANRLN572</lei>
        <title>FX Forward: EUR/USD settle 2019-11-27</title>
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          <other otherDesc="Internal FX transaction ID" value="173503"/>
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      <invstOrSec>
        <name>UBS AG</name>
        <lei>BFM8T61CT2L1QCEMIK50</lei>
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        <name>DANSKE BANK A/S</name>
        <lei>MAES062Z21O4RZ2U7M96</lei>
        <title>DANSKE BANK AS (UNGTD) 1.375% 05/24/2022 REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1957541953"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CITIBANK, N.A.</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>FX Forward: USD/GBP settle 2019-11-27</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal FX transaction ID" value="171577"/>
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        <curCd>N/A</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TELEFONICA EUROPE BV</name>
        <lei>7245007FZS0M65WUGP67</lei>
        <title>TELEFONICA EUROPE BV 2.625/VAR PERP REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1731823255"/>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CITIBANK, N.A.</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>CITI SWAP CDS 12/20/24 BNP B</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Bloomberg" value="COSP2S12GE"/>
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        <balance>600000.00000000</balance>
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        <assetCat>DCR</assetCat>
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                <issuerName>BNP PARIBAS</issuerName>
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        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY 3.95% 04/23/2027</title>
        <cusip>61761JZN2</cusip>
        <identifiers>
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        <balance>156000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ROYAL BANK OF CANADA</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>FX Forward: USD/EUR settle 2019-11-27</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal FX transaction ID" value="172020"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>1087.36000000</valUSD>
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        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>TRAVIS PERKINS PLC</name>
        <lei>2138001I27OUBAF22K83</lei>
        <title>TRAVIS PERKINS PLC 4.5% 09/07/2023 REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1407695680"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>WESTINGHOUSE AIR BR CO</name>
        <lei>N/A</lei>
        <title>WESTINGHOUSE AIR BRAKE TECH CORP STEP 03/15/2024</title>
        <cusip>960386AN0</cusip>
        <identifiers>
          <isin value="US960386AN02"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
          <annualizedRt>0.04400000</annualizedRt>
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      <invstOrSec>
        <name>CITIGROUP INC</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP INC 4.3% 11/20/2026</title>
        <cusip>172967JC6</cusip>
        <identifiers>
          <isin value="US172967JC62"/>
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        <balance>82000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>88233.73000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04300000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VOLKSWAGEN INTL FINANCE NV</name>
        <lei>5299004PWNHKYTR23649</lei>
        <title>VOLKSWAGEN INTL FINANCE NV 2.5% PERP REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1206540806"/>
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        <balance>600000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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        <name>GREECE GOVERNMENT OF</name>
        <lei>2138003EKTMKZ5598902</lei>
        <title>GREECE GOVERNMENT OF 1.875% 07/23/2026 144A REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GR0118019679"/>
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        <balance>690000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
        <valUSD>790826.95000000</valUSD>
        <pctVal>1.188187331490</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.01875000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NATIONWIDE BUILDING SOCIETY</name>
        <lei>549300XFX12G42QIKN82</lei>
        <title>NATIONWIDE BLDG SOCIETY 10.25% PRFD PERP RGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00BBQ33664"/>
        </identifiers>
        <balance>1350.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.81330568"/>
        <valUSD>259773.18000000</valUSD>
        <pctVal>0.390299295613</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CANADIAN IMPERIAL BANK OF COMMERCE</name>
        <lei>2IGI19DL77OX0HC3ZE78</lei>
        <title>FX Forward: USD/EUR settle 2019-11-27</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal FX transaction ID" value="173588"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>361.68000000</valUSD>
        <pctVal>0.000543410406</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>CANADIAN IMPERIAL BANK OF COMMERCE</counterpartyName>
              <counterpartyLei>2IGI19DL77OX0HC3ZE78</counterpartyLei>
            </counterparties>
            <amtCurSold>35000.00000000</amtCurSold>
            <curSold>EUR</curSold>
            <amtCurPur>38670.00000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2019-11-27</settlementDt>
            <unrealizedAppr>361.68000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WILLIAMS COS INC</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
        <title>WILLIAMS COS INC 4.55% 06/24/2024</title>
        <cusip>969457BW9</cusip>
        <identifiers>
          <isin value="US969457BW96"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>538362.00000000</valUSD>
        <pctVal>0.808868372728</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-06-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04550000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INDONESIA REPUBLIC OF</name>
        <lei>254900G208H6Q0L5B953</lei>
        <title>INDONESIA GOVT 2.625% 06/14/23 RGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1432493879"/>
        </identifiers>
        <balance>580000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
        <valUSD>684325.11000000</valUSD>
        <pctVal>1.028172378701</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-06-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.02625000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DCP MIDSTREAM LLC</name>
        <lei>VQOHU6HCVU6YY1KUKU03</lei>
        <title>DCP MIDSTRM LLC 4.75 9/21 144A</title>
        <cusip>23311RAE6</cusip>
        <identifiers>
          <isin value="US23311RAE62"/>
        </identifiers>
        <balance>613000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>628325.00000000</valUSD>
        <pctVal>0.944034349182</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04750000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN CHASE BANK NA NEW YORK NY</name>
        <lei>7H6GLXDRUGQFU57RNE97</lei>
        <title>FX Forward: USD/CAD settle 2019-11-27</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal FX transaction ID" value="172245"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>343.66000000</valUSD>
        <pctVal>0.000516336043</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>JPMORGAN CHASE BANK NA NEW YORK NY</counterpartyName>
              <counterpartyLei>7H6GLXDRUGQFU57RNE97</counterpartyLei>
            </counterparties>
            <amtCurSold>54000.00000000</amtCurSold>
            <curSold>CAD</curSold>
            <amtCurPur>41138.28000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2019-11-27</settlementDt>
            <unrealizedAppr>343.66000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STATE STREET BANK AND TRUST COMPANY</name>
        <lei>571474TGEMMWANRLN572</lei>
        <title>FX Forward: EUR/USD settle 2019-11-27</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal FX transaction ID" value="172820"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>-21825.83000000</valUSD>
        <pctVal>-0.03279247717</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>STATE STREET BANK AND TRUST COMPANY</counterpartyName>
              <counterpartyLei>571474TGEMMWANRLN572</counterpartyLei>
            </counterparties>
            <amtCurSold>2094853.02000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>1894000.00000000</amtCurPur>
            <curPur>EUR</curPur>
            <settlementDt>2019-11-27</settlementDt>
            <unrealizedAppr>-21825.83000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DANSKE BANK A/S</name>
        <lei>MAES062Z21O4RZ2U7M96</lei>
        <title>DANSKE BANK AS (UNGTD) 5.875%/VAR PERP REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1190987427"/>
        </identifiers>
        <balance>400000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
        <valUSD>461657.48000000</valUSD>
        <pctVal>0.693622756816</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TURKIYE GARANTI BANKASI AS</name>
        <lei>5493002XSS7K7RHN1V37</lei>
        <title>TURKIYE GARANTI BANKASI AS 6.25% 04/20/2021 REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="USM8931TAA71"/>
        </identifiers>
        <balance>440000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>450450.00000000</valUSD>
        <pctVal>0.676783945552</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.06250000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OMEGA HEALTHCARE INVESTORS INC</name>
        <lei>549300OJ7ENK42CZ8E73</lei>
        <title>OMEGA HEALTHCARE INVESTORS INC 4.95% 04/01/24</title>
        <cusip>681936BB5</cusip>
        <identifiers>
          <isin value="US681936BB51"/>
        </identifiers>
        <balance>550000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>589610.08000000</valUSD>
        <pctVal>0.885866658407</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04950000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEXTERA ENERGY PARTNERS LP</name>
        <lei>5493008F4ZOQFNG3WN54</lei>
        <title>NEXTERA ENERGY PARTNERS LP 4.25% 09/15/2024 144A</title>
        <cusip>65342QAC6</cusip>
        <identifiers>
          <isin value="US65342QAC69"/>
        </identifiers>
        <balance>550000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>567187.50000000</valUSD>
        <pctVal>0.852177587119</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04250000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DEUTSCHE BANK AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>DEUTSCHE BANK AG 1.625% 02/12/2021 REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE000DL19UQ0"/>
        </identifiers>
        <balance>700000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
        <valUSD>771433.91000000</valUSD>
        <pctVal>1.159050028510</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-02-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.01625000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BRIXMOR OPERATING PARTNERSHIP LP</name>
        <lei>549300CJHBL7JBUA6503</lei>
        <title>BRIXMOR OPERATING PARTNERSHIP LP 4.125% 06/15/2026</title>
        <cusip>11120VAC7</cusip>
        <identifiers>
          <isin value="US11120VAC72"/>
        </identifiers>
        <balance>26000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>27579.90000000</valUSD>
        <pctVal>0.041437747896</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04125000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CYBG PLC</name>
        <lei>213800ZK9VGCYYR6O495</lei>
        <title>CYBG PLC 3.125/VAR 06/22/2025 REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1637124741"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.81330568"/>
        <valUSD>240180.30000000</valUSD>
        <pctVal>0.360861740654</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-22</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.03125000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PETROLEOS MEXICANOS</name>
        <lei>549300CAZKPF4HKMPX17</lei>
        <title>PETROLEOS MEXICANOS 2.5% 11/30/2022 REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1824425349"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
        <valUSD>110629.92000000</valUSD>
        <pctVal>0.166217235550</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-11-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.02500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TOLL BROS FIN CORP</name>
        <lei>N/A</lei>
        <title>TOLL BROS FIN CORP 4.875% 03/15/2027</title>
        <cusip>88947EAS9</cusip>
        <identifiers>
          <isin value="US88947EAS90"/>
        </identifiers>
        <balance>650000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>696312.50000000</valUSD>
        <pctVal>1.046182974996</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04875000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BARCLAYS PLC (UNGTD)</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>BARCLAYS PLC (UNGTD) 7.125/VAR PERP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1998799792"/>
        </identifiers>
        <balance>400000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.81330568"/>
        <valUSD>520714.43000000</valUSD>
        <pctVal>0.782353571853</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BLACKSTONE PROPERTY PARTNERS EUROPE HOLDINGS SARL</name>
        <lei>213800Y3B5GQFBGVHP79</lei>
        <title>BLACKSTONE PROP PARTNERS EUR HOLD 2% 02/15/2024 REGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1951927315"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
        <valUSD>114947.22000000</valUSD>
        <pctVal>0.172703814145</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.02000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SUNOCO LOGISTICS PRTNR OPER LP</name>
        <lei>5493006LL0CKP8WQW329</lei>
        <title>SUNOCO LOGISTICS PRTNR OPER LP 4% 10/01/2027</title>
        <cusip>86765BAU3</cusip>
        <identifiers>
          <isin value="US86765BAU35"/>
        </identifiers>
        <balance>600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>621138.19000000</valUSD>
        <pctVal>0.933236441250</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BNP PARIBAS</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
        <title>FX Forward: USD/EUR settle 2019-11-27</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal FX transaction ID" value="173196"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>6240.17000000</valUSD>
        <pctVal>0.009375617434</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BNP PARIBAS</counterpartyName>
              <counterpartyLei>R0MUWSFPU8MPRO8K5P83</counterpartyLei>
            </counterparties>
            <amtCurSold>404000.00000000</amtCurSold>
            <curSold>EUR</curSold>
            <amtCurPur>448427.60000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2019-11-27</settlementDt>
            <unrealizedAppr>6240.17000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHICAGO BOARD OF TRADE</name>
        <lei>N/A</lei>
        <title>US ULTRA BOND CBT FUT DEC19 WNZ9</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="WNZ9"/>
        </identifiers>
        <balance>25.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-149273.60000000</valUSD>
        <pctVal>-0.22427789094</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CHICAGO BOARD OF TRADE</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>UNITED STATES TREASURY BOND</issuerName>
                <issueTitle>UNDERLYING TREASURY BOND GENERIC IV FOR FUTURES TRADING</issueTitle>
                <identifiers>
                  <other otherDesc="Internal" value="912995BD8"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2019-12-19</expDate>
            <notionalAmt>4946929.85000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-149273.60000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALLIED IRISH BANKS PLC</name>
        <lei>3U8WV1YX2VMUHH7Z1Q21</lei>
        <title>ALLIED IRISH BANKS PLC (UNGTD) 7.375%/VAR PERP RGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1328798779"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
        <valUSD>231309.19000000</valUSD>
        <pctVal>0.347533236209</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ELANCO ANIMAL HEALTH INC</name>
        <lei>549300SHPNDCE059M934</lei>
        <title>ELANCO ANIMAL HEALTH INC 4.9% 08/28/2028</title>
        <cusip>28414HAG8</cusip>
        <identifiers>
          <isin value="US28414HAG83"/>
        </identifiers>
        <balance>350000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>381866.91000000</valUSD>
        <pctVal>0.573740468477</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04900000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CENOVUS ENERGY INC</name>
        <lei>549300DK79J32SE1QE52</lei>
        <title>CENOVUS ENERGY INC 4.25% 04/15/2027</title>
        <cusip>15135UAM1</cusip>
        <identifiers>
          <isin value="US15135UAM18"/>
        </identifiers>
        <balance>514000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>535935.10000000</valUSD>
        <pctVal>0.805222048036</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04250000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC HOLDINGS PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC HOLDINGS PLC 5.25 PERP REGS 144A</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1111123987"/>
        </identifiers>
        <balance>250000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747328"/>
        <valUSD>292924.06000000</valUSD>
        <pctVal>0.440107228491</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2019-10-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Laura M. Del Prato</ncom:nameOfApplicant>
      <ncom:signature>Laura M. Del Prato</ncom:signature>
      <ncom:signerName>Laura M. Del Prato</ncom:signerName>
      <ncom:title>President and Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
