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    <isConfidential>false</isConfidential>
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          <ccc>XXXXXXXX</ccc>
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      <regFileNumber>811-01879</regFileNumber>
      <regCik>0000277751</regCik>
      <regLei>W6UYDZFUOFJ4HQQ32382</regLei>
      <regStreet1>151 Detroit Street</regStreet1>
      <regCity>Denver</regCity>
      <regStateConditional regCountry="US" regState="US-CO"/>
      <regZipOrPostalCode>80206</regZipOrPostalCode>
      <regPhone>303-333-3863</regPhone>
      <seriesName>Janus Henderson Emerging Markets Fund</seriesName>
      <seriesId>S000057600</seriesId>
      <seriesLei>549300OPPFBZE65UIL89</seriesLei>
      <repPdEnd>2025-09-30</repPdEnd>
      <repPdDate>2025-03-31</repPdDate>
      <isFinalFiling>N</isFinalFiling>
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      <totLiabs>181286.460000000000</totLiabs>
      <netAssets>32304096.250000000000</netAssets>
      <assetsAttrMiscSec>0.000000000000</assetsAttrMiscSec>
      <assetsInvested>0.000000000000</assetsInvested>
      <amtPayOneYrBanksBorr>0.000000000000</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0.000000000000</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0.000000000000</amtPayOneYrOthAffil>
      <amtPayOneYrOther>0.000000000000</amtPayOneYrOther>
      <amtPayAftOneYrBanksBorr>0.000000000000</amtPayAftOneYrBanksBorr>
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      <delayDeliv>13786.340000000000</delayDeliv>
      <standByCommit>0.000000000000</standByCommit>
      <liquidPref>0.000000000000</liquidPref>
      <cshNotRptdInCorD>2744.340000000000</cshNotRptdInCorD>
      <isNonCashCollateral>N</isNonCashCollateral>
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        <name>Grupo Financiero Banorte S.A.B. de C.V.</name>
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          <ticker value="GBOOF"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Freeport-McMoRan Inc.</name>
        <lei>549300IRDTHJQ1PVET45</lei>
        <title>Freeport-McMoRan Inc. COM USD0.10</title>
        <cusip>35671D857</cusip>
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          <ticker value="FCX"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>265285.02</valUSD>
        <pctVal>0.8212117062</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Full Truck Alliance Co Ltd</name>
        <lei>984500884LB1DP8DAC57</lei>
        <title>Full Truck Alliance Co Ltd SPONSORED ADS</title>
        <cusip>35969L108</cusip>
        <identifiers>
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          <ticker value="YMM"/>
          <other otherDesc="SEDOL" value="BMD2L36"/>
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        <curCd>USD</curCd>
        <valUSD>1206177.58</valUSD>
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        <assetConditional assetCat="OTHER" desc="GDR"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Legend Biotech Corporation</name>
        <lei>254900EIUFZTW136H859</lei>
        <title>Legend Biotech Corporation SPONSORED ADS</title>
        <cusip>52490G102</cusip>
        <identifiers>
          <isin value="US52490G1022"/>
          <ticker value="LEGN"/>
          <other otherDesc="SEDOL" value="BMX9K07"/>
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        <balance>5090</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>172703.7</valUSD>
        <pctVal>0.5346185780</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="GDR"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Erste Group Bank AG</name>
        <lei>PQOH26KWDF7CG10L6792</lei>
        <title>Erste Group Bank AG NPV</title>
        <cusip>A19494102</cusip>
        <identifiers>
          <isin value="AT0000652011"/>
          <ticker value="EBKOF"/>
          <other otherDesc="SEDOL" value="5289837"/>
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        <balance>5924</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.9249"/>
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        <pctVal>1.2739713156</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Mercadolibre Inc</name>
        <lei>549300DKPDN9M5S8GB14</lei>
        <title>Mercadolibre Inc COM USD0.001</title>
        <cusip>58733R102</cusip>
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          <ticker value="MELI"/>
          <other otherDesc="SEDOL" value="B23X1H3"/>
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        <curCd>USD</curCd>
        <valUSD>505275.33</valUSD>
        <pctVal>1.5641215470</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>ASMPT Ltd.</name>
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        <title>ASMPT Ltd. HKD0.10</title>
        <cusip>G0535Q133</cusip>
        <identifiers>
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          <ticker value="ASMVF"/>
          <other otherDesc="SEDOL" value="6002453"/>
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        <currencyConditional curCd="HKD" exchangeRt="7.7812"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Accton Technology Corp.</name>
        <lei>529900M1YRZ0GWMDF920</lei>
        <title>Accton Technology Corp. TWD10</title>
        <cusip>Y0002S109</cusip>
        <identifiers>
          <isin value="TW0002345006"/>
          <ticker value="ACTZF"/>
          <other otherDesc="SEDOL" value="6005214"/>
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        <balance>33000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="33.2"/>
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        <pctVal>1.8055168468</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Reliance Industries Ltd.</name>
        <lei>5493003UOETFYRONLG31</lei>
        <title>Reliance Industries Ltd. INR10(100%DEMAT)</title>
        <cusip>Y72596102</cusip>
        <identifiers>
          <isin value="INE002A01018"/>
          <ticker value="RLNJF"/>
          <other otherDesc="SEDOL" value="6099626"/>
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        <balance>61643</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="85.4675"/>
        <valUSD>916899.5</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Chroma Ate Inc</name>
        <lei>N/A</lei>
        <title>Chroma Ate Inc TWD10</title>
        <cusip>Y1604M102</cusip>
        <identifiers>
          <isin value="TW0002360005"/>
          <ticker value="CRMJF"/>
          <other otherDesc="SEDOL" value="6212100"/>
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        <balance>29000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="33.2"/>
        <valUSD>253856.24</valUSD>
        <pctVal>0.7858329731</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Delta Electronics Inc.</name>
        <lei>529900UVZWNWGDLJSM52</lei>
        <title>Delta Electronics Inc. TWD10</title>
        <cusip>Y20263102</cusip>
        <identifiers>
          <isin value="TW0002308004"/>
          <ticker value="DLTEF"/>
          <other otherDesc="SEDOL" value="6260734"/>
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        <balance>32000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="33.2"/>
        <valUSD>352754.54</valUSD>
        <pctVal>1.0919808351</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SK Hynix Inc.</name>
        <lei>988400XAIK6XISWQV045</lei>
        <title>SK Hynix Inc. KRW5000</title>
        <cusip>Y8085F100</cusip>
        <identifiers>
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          <ticker value="HXSCF"/>
          <other otherDesc="SEDOL" value="6450267"/>
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        <balance>4281</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1472.3"/>
        <valUSD>567789.94</valUSD>
        <pctVal>1.7576406893</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Bharti Airtel Ltd.</name>
        <lei>335800KQ1FPKOQ84OR26</lei>
        <title>Bharti Airtel Ltd. INR5</title>
        <cusip>Y0885K108</cusip>
        <identifiers>
          <isin value="INE397D01024"/>
          <ticker value="BHTIF"/>
          <other otherDesc="SEDOL" value="6442327"/>
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        <balance>46228</balance>
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        <currencyConditional curCd="INR" exchangeRt="85.4675"/>
        <valUSD>935297.47</valUSD>
        <pctVal>2.8952906243</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Kia Corp.</name>
        <lei>988400V8MJK9N7OI5X76</lei>
        <title>Kia Corp. KRW5000</title>
        <cusip>Y47601102</cusip>
        <identifiers>
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          <ticker value="KIMTF"/>
          <other otherDesc="SEDOL" value="6490928"/>
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        <balance>3639</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1472.3"/>
        <valUSD>229825.39</valUSD>
        <pctVal>0.7114434907</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NAVER Corp.</name>
        <lei>988400ULUQYDB2HQYJ61</lei>
        <title>NAVER Corp. KRW100</title>
        <cusip>Y62579100</cusip>
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          <isin value="KR7035420009"/>
          <ticker value="NHNCF"/>
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        <currencyConditional curCd="KRW" exchangeRt="1472.3"/>
        <valUSD>663225.87</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>E Ink Holdings Inc.</name>
        <lei>529900UOR451FJJYL571</lei>
        <title>E Ink Holdings Inc. TWD10</title>
        <cusip>Y2266Z100</cusip>
        <identifiers>
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          <ticker value="PVWIF"/>
          <other otherDesc="SEDOL" value="6744283"/>
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        <currencyConditional curCd="TWD" exchangeRt="33.2"/>
        <valUSD>345958.72</valUSD>
        <pctVal>1.0709438126</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Samsung Electronics Co Ltd.</name>
        <lei>9884007ER46L6N7EI764</lei>
        <title>Samsung Electronics Co Ltd. KRW100</title>
        <cusip>Y74718100</cusip>
        <identifiers>
          <isin value="KR7005930003"/>
          <ticker value="SSNLF"/>
          <other otherDesc="SEDOL" value="6771720"/>
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        <balance>34086</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1472.3"/>
        <valUSD>1350048.07</valUSD>
        <pctVal>4.1791853874</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Taiwan Semiconductor Manufacturing Co., Ltd.</name>
        <lei>549300KB6NK5SBD14S87</lei>
        <title>Taiwan Semiconductor Manufacturing Co., Ltd. TWD10</title>
        <cusip>Y84629107</cusip>
        <identifiers>
          <isin value="TW0002330008"/>
          <ticker value="TSMWF"/>
          <other otherDesc="SEDOL" value="6889106"/>
        </identifiers>
        <balance>110000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="33.2"/>
        <valUSD>3066789.63</valUSD>
        <pctVal>9.4935007817</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>API Holdings Ltd</name>
        <lei>N/A</lei>
        <title>API Holdings Private Ltd</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DU0000403033"/>
          <ticker value="1810068D"/>
          <other otherDesc="SEDOL" value="7729367"/>
        </identifiers>
        <balance>758340</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="85.4675"/>
        <valUSD>44985.33</valUSD>
        <pctVal>0.1392558072</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sea Ltd.</name>
        <lei>529900OM6JLLW44YKI15</lei>
        <title>Sea Ltd. ADS EACH REP ONE CL A SHS</title>
        <cusip>81141R100</cusip>
        <identifiers>
          <isin value="US81141R1005"/>
          <ticker value="SE"/>
          <other otherDesc="SEDOL" value="BYWD7L4"/>
        </identifiers>
        <balance>3135</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>409086.15</valUSD>
        <pctVal>1.2663599899</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="GDR"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Structure Therapeutics Inc</name>
        <lei>N/A</lei>
        <title>Structure Therapeutics Inc SPONSORED ADS</title>
        <cusip>86366E106</cusip>
        <identifiers>
          <isin value="US86366E1064"/>
          <ticker value="GPCR"/>
          <other otherDesc="SEDOL" value="BQS9486"/>
        </identifiers>
        <balance>7924</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>137164.44</valUSD>
        <pctVal>0.4246038612</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="GDR"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tencent Holdings Ltd.</name>
        <lei>254900N4SLUMW4XUYY11</lei>
        <title>Tencent Holdings Ltd. UNSP ADR EACH REP 1 ORD</title>
        <cusip>88032Q109</cusip>
        <identifiers>
          <isin value="US88032Q1094"/>
          <ticker value="TCEHY"/>
          <other otherDesc="SEDOL" value="B3F2DZ7"/>
        </identifiers>
        <balance>14700</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>938448</valUSD>
        <pctVal>2.9050433503</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="GDR"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JANUS CAPITAL GROUP INC</name>
        <lei>N/A</lei>
        <title>Janus Henderson Cash Liquidity Fund LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="895"/>
        </identifiers>
        <balance>822989.372</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>823153.97</valUSD>
        <pctVal>2.5481411510</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BYD Co Ltd.</name>
        <lei>5299005557VL7ULJ7A69</lei>
        <title>BYD Co Ltd. 'H'CNY1</title>
        <cusip>Y1023R104</cusip>
        <identifiers>
          <isin value="CNE100000296"/>
          <ticker value="BYDDF"/>
          <other otherDesc="SEDOL" value="6536651"/>
        </identifiers>
        <balance>24000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7812"/>
        <valUSD>1213163.8</valUSD>
        <pctVal>3.7554488156</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Aspirasi Hidup Indonesia Tbk PT</name>
        <lei>529900WER46RYFNZER60</lei>
        <title>Aspirasi Hidup Indonesia Tbk PT IDR10</title>
        <cusip>Y000CY105</cusip>
        <identifiers>
          <isin value="ID1000125503"/>
          <ticker value="ACEHF"/>
          <other otherDesc="SEDOL" value="B7JW351"/>
        </identifiers>
        <balance>7255200</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="16555"/>
        <valUSD>218960.01</valUSD>
        <pctVal>0.6778088088</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Becle Sab DE CV</name>
        <lei>529900JY55CZKMJLCE09</lei>
        <title>Becle Sab DE CV NPV</title>
        <cusip>P0929Y106</cusip>
        <identifiers>
          <isin value="MX01CU010003"/>
          <ticker value="BCCLF"/>
          <other otherDesc="SEDOL" value="BYM4063"/>
        </identifiers>
        <balance>259556</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="20.4615"/>
        <valUSD>238733.42</valUSD>
        <pctVal>0.7390190338</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vale S.A.</name>
        <lei>254900SMTWBX7RU2SR20</lei>
        <title>Vale S.A. SPONS ADS REPR 1 COM NPV</title>
        <cusip>91912E105</cusip>
        <identifiers>
          <isin value="US91912E1055"/>
          <ticker value="VALE"/>
          <other otherDesc="SEDOL" value="2857334"/>
        </identifiers>
        <balance>73544</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>733969.12</valUSD>
        <pctVal>2.2720620763</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="GDR"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vipshop Holdings Ltd.</name>
        <lei>549300I9F52K06HPZX60</lei>
        <title>Vipshop Holdings Ltd. SPON ADS EA REP 0.2 ORD A</title>
        <cusip>92763W103</cusip>
        <identifiers>
          <isin value="US92763W1036"/>
          <ticker value="VIPS"/>
          <other otherDesc="SEDOL" value="B3N0H17"/>
        </identifiers>
        <balance>25496</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>399777.28</valUSD>
        <pctVal>1.2375436134</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="GDR"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Yapi Ve Kredi Bankasi A.S.</name>
        <lei>B85ZYWEZ5IZCZ2WNIO12</lei>
        <title>Yapi Ve Kredi Bankasi A.S. TRY1</title>
        <cusip>M9869G101</cusip>
        <identifiers>
          <isin value="TRAYKBNK91N6"/>
          <ticker value="YVKBF"/>
          <other otherDesc="SEDOL" value="B03MZJ6"/>
        </identifiers>
        <balance>317582</balance>
        <units>NS</units>
        <currencyConditional curCd="TRY" exchangeRt="37.9256"/>
        <valUSD>201059.94</valUSD>
        <pctVal>0.6223976626</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Powszechna Kasa Oszczednosci Bank Polski SA</name>
        <lei>P4GTT6GF1W40CVIMFR43</lei>
        <title>Powszechna Kasa Oszczednosci Bank Polski SA PLN1.00</title>
        <cusip>X6919X108</cusip>
        <identifiers>
          <isin value="PLPKO0000016"/>
          <ticker value="PSZKF"/>
          <other otherDesc="SEDOL" value="B03NGS5"/>
        </identifiers>
        <balance>20647</balance>
        <units>NS</units>
        <currencyConditional curCd="PLN" exchangeRt="3.8714"/>
        <valUSD>403679.72</valUSD>
        <pctVal>1.2496239389</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hana Financial Group Inc.</name>
        <lei>N/A</lei>
        <title>Hana Financial Group Inc. KRW5000</title>
        <cusip>Y29975102</cusip>
        <identifiers>
          <isin value="KR7086790003"/>
          <ticker value="HNFGF"/>
          <other otherDesc="SEDOL" value="B0RNRF5"/>
        </identifiers>
        <balance>11322</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1472.3"/>
        <valUSD>460831.1</valUSD>
        <pctVal>1.4265407595</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Epl Limited</name>
        <lei>335800SHKQVLNEGB2W80</lei>
        <title>Epl Limited INR2 (POST SUBDIVISION)</title>
        <cusip>Y2297N142</cusip>
        <identifiers>
          <isin value="INE255A01020"/>
          <ticker value="ESPGF"/>
          <other otherDesc="SEDOL" value="B15T3F4"/>
        </identifiers>
        <balance>158373</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="85.4675"/>
        <valUSD>372374.04</valUSD>
        <pctVal>1.1527146190</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Anglo American PLC</name>
        <lei>549300S9XF92D1X8ME43</lei>
        <title>Anglo American PLC ORD USD0.54945</title>
        <cusip>G03764134</cusip>
        <identifiers>
          <isin value="GB00B1XZS820"/>
          <ticker value="AAUKF"/>
          <other otherDesc="SEDOL" value="B1XZS82"/>
        </identifiers>
        <balance>8331</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.77429"/>
        <valUSD>233826.47</valUSD>
        <pctVal>0.7238291645</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Alchip Technologies Ltd.</name>
        <lei>529900HKE9RIY07SLX84</lei>
        <title>Alchip Technologies Ltd. TWD10</title>
        <cusip>G02242108</cusip>
        <identifiers>
          <isin value="KYG022421088"/>
          <ticker value="ALCPF"/>
          <other otherDesc="SEDOL" value="B4TPSL0"/>
        </identifiers>
        <balance>5000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="33.2"/>
        <valUSD>421591.5</valUSD>
        <pctVal>1.3050713344</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AIA Group Ltd, Hong Kong</name>
        <lei>ZP5ILWVSYE4LJGMMVD57</lei>
        <title>AIA Group Ltd, Hong Kong NPV</title>
        <cusip>Y002A1105</cusip>
        <identifiers>
          <isin value="HK0000069689"/>
          <ticker value="AAIGF"/>
          <other otherDesc="SEDOL" value="B4TX8S1"/>
        </identifiers>
        <balance>125000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7812"/>
        <valUSD>944931.78</valUSD>
        <pctVal>2.9251144272</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Techwing Inc</name>
        <lei>988400SCZD1UJPMA1865</lei>
        <title>Techwing Inc KRW500</title>
        <cusip>Y8563H107</cusip>
        <identifiers>
          <isin value="KR7089030001"/>
          <ticker value="TCHWF"/>
          <other otherDesc="SEDOL" value="B6R1245"/>
        </identifiers>
        <balance>7452</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1472.3"/>
        <valUSD>164014.12</valUSD>
        <pctVal>0.5077192649</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Park Systems Corp</name>
        <lei>N/A</lei>
        <title>Park Systems Corp KRW500</title>
        <cusip>Y6S06Q106</cusip>
        <identifiers>
          <isin value="KR7140860008"/>
          <ticker value="A140860"/>
          <other otherDesc="SEDOL" value="BD0CJ98"/>
        </identifiers>
        <balance>1906</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1472.3"/>
        <valUSD>275563.87</valUSD>
        <pctVal>0.8530307360</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dino Polska SA</name>
        <lei>259400H4L81SMPRTW956</lei>
        <title>Dino Polska SA PLN0.10</title>
        <cusip>X188AF102</cusip>
        <identifiers>
          <isin value="PLDINPL00011"/>
          <ticker value="DNOPF"/>
          <other otherDesc="SEDOL" value="BD0YVN2"/>
        </identifiers>
        <balance>2477</balance>
        <units>NS</units>
        <currencyConditional curCd="PLN" exchangeRt="3.8714"/>
        <valUSD>289306.99</valUSD>
        <pctVal>0.8955736999</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HDFC Life Insurance Co Ltd.</name>
        <lei>335800RQI8GAFHIRGZ37</lei>
        <title>HDFC Life Insurance Co Ltd. INR10</title>
        <cusip>Y3R1AP109</cusip>
        <identifiers>
          <isin value="INE795G01014"/>
          <ticker value="HDFCLIFE"/>
          <other otherDesc="SEDOL" value="BF0TRG6"/>
        </identifiers>
        <balance>74643</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="85.4675"/>
        <valUSD>595034.47</valUSD>
        <pctVal>1.8419783838</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vietnam Technological &amp; Commercial Joint Stock Bank</name>
        <lei>5493001XNKHV3FNIUD50</lei>
        <title>Vietnam Technological &amp; Commercial Joint Stock Bank VND10000</title>
        <cusip>Y937GK104</cusip>
        <identifiers>
          <isin value="VN000000TCB8"/>
          <ticker value="TCB"/>
          <other otherDesc="SEDOL" value="BFWX744"/>
        </identifiers>
        <balance>313800</balance>
        <units>NS</units>
        <currencyConditional curCd="VND" exchangeRt="25547"/>
        <valUSD>338825.85</valUSD>
        <pctVal>1.0488634239</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>VN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Contemporary Amperex Technology Co Ltd.</name>
        <lei>300300KINDY1K0E9I032</lei>
        <title>Contemporary Amperex Technology Co Ltd. 'A' CNY1</title>
        <cusip>Y1R48E105</cusip>
        <identifiers>
          <isin value="CNE100003662"/>
          <ticker value="300750"/>
          <other otherDesc="SEDOL" value="BHQPSY7"/>
        </identifiers>
        <balance>29436</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.265"/>
        <valUSD>1029784.54</valUSD>
        <pctVal>3.1877831592</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HDFC Bank Ltd.</name>
        <lei>335800ZQ6I4E2JXENC50</lei>
        <title>HDFC Bank Ltd. INR1</title>
        <cusip>Y3119P190</cusip>
        <identifiers>
          <isin value="INE040A01034"/>
          <ticker value="HDFCBANK"/>
          <other otherDesc="SEDOL" value="BK1N461"/>
        </identifiers>
        <balance>54227</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="85.4675"/>
        <valUSD>1155098.78</valUSD>
        <pctVal>3.5757037469</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Devyani International Ltd.</name>
        <lei>335800QL2YIWJ1DFK350</lei>
        <title>Devyani International Ltd. INR1</title>
        <cusip>Y2R58Y114</cusip>
        <identifiers>
          <isin value="INE872J01023"/>
          <ticker value="DEVYANI"/>
          <other otherDesc="SEDOL" value="BKVD654"/>
        </identifiers>
        <balance>93735</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="85.4675"/>
        <valUSD>163296.01</valUSD>
        <pctVal>0.5054962960</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Macrotech Developers Ltd.</name>
        <lei>254900B5QCN52ETNU557</lei>
        <title>Macrotech Developers Ltd. INR10</title>
        <cusip>Y5311S112</cusip>
        <identifiers>
          <isin value="INE670K01029"/>
          <ticker value="LODHA"/>
          <other otherDesc="SEDOL" value="BM9G370"/>
        </identifiers>
        <balance>13552</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="85.4675"/>
        <valUSD>189084.65</valUSD>
        <pctVal>0.5853271627</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>H World Group Ltd.</name>
        <lei>549300Y5ML31FVN83730</lei>
        <title>H World Group Ltd. USD0.00001</title>
        <cusip>G46587112</cusip>
        <identifiers>
          <isin value="KYG465871120"/>
          <ticker value="HWLDF"/>
          <other otherDesc="SEDOL" value="BMB5YK5"/>
        </identifiers>
        <balance>151200</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7812"/>
        <valUSD>558767.78</valUSD>
        <pctVal>1.7297118473</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Allegro.eu SA</name>
        <lei>222100VRLXV3FPMG4982</lei>
        <title>Allegro.eu SA PLN0.01</title>
        <cusip>L0R67D109</cusip>
        <identifiers>
          <isin value="LU2237380790"/>
          <ticker value="ALEGF"/>
          <other otherDesc="SEDOL" value="BMBQDF6"/>
        </identifiers>
        <balance>92544</balance>
        <units>NS</units>
        <currencyConditional curCd="PLN" exchangeRt="3.8714"/>
        <valUSD>753297.94</valUSD>
        <pctVal>2.3318960362</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tencent Holdings Ltd.</name>
        <lei>254900N4SLUMW4XUYY11</lei>
        <title>Tencent Holdings Ltd. HKD0.00002</title>
        <cusip>G87572163</cusip>
        <identifiers>
          <isin value="KYG875721634"/>
          <ticker value="TCTZF"/>
          <other otherDesc="SEDOL" value="BMMV2K8"/>
        </identifiers>
        <balance>22900</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7812"/>
        <valUSD>1459521.69</valUSD>
        <pctVal>4.5180700265</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Eicher Motors Ltd.</name>
        <lei>25490059S64CN2OY7239</lei>
        <title>Eicher Motors Ltd. INR1</title>
        <cusip>Y2251M148</cusip>
        <identifiers>
          <isin value="INE066A01021"/>
          <ticker value="EICHERMOT"/>
          <other otherDesc="SEDOL" value="BMW4CV8"/>
        </identifiers>
        <balance>9115</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="85.4675"/>
        <valUSD>570211.9</valUSD>
        <pctVal>1.7651380667</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Yum China Holdings Inc.</name>
        <lei>529900DO9BYZ7VA3K502</lei>
        <title>Yum China Holdings Inc. COM</title>
        <cusip>98850P109</cusip>
        <identifiers>
          <isin value="US98850P1093"/>
          <ticker value="YUMC"/>
          <other otherDesc="SEDOL" value="BN2BD13"/>
        </identifiers>
        <balance>11154</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7812"/>
        <valUSD>580931.27</valUSD>
        <pctVal>1.7983207625</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Trip.com Group Ltd.</name>
        <lei>2549004RMYDSRQL4KW41</lei>
        <title>Trip.com Group Ltd. USD0.00125</title>
        <cusip>G9066F101</cusip>
        <identifiers>
          <isin value="KYG9066F1019"/>
          <ticker value="TRPCF"/>
          <other otherDesc="SEDOL" value="BNYK8H9"/>
        </identifiers>
        <balance>11350</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7812"/>
        <valUSD>724468.29</valUSD>
        <pctVal>2.2426514718</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zai Lab Ltd.</name>
        <lei>549300P2UYQ9U5LY1T58</lei>
        <title>Zai Lab Ltd. USD0.000006</title>
        <cusip>G9887T116</cusip>
        <identifiers>
          <isin value="KYG9887T1168"/>
          <ticker value="ZAILF"/>
          <other otherDesc="SEDOL" value="BP8L269"/>
        </identifiers>
        <balance>63500</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7812"/>
        <valUSD>231047.8</valUSD>
        <pctVal>0.7152275619</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sichuan Kelun Biotech Biopharmaceutical Co Ltd.</name>
        <lei>N/A</lei>
        <title>Sichuan Kelun Biotech Biopharmaceutical Co Ltd. CNY1 A</title>
        <cusip>Y793HA102</cusip>
        <identifiers>
          <isin value="CNE1000062J1"/>
          <ticker value="6990"/>
          <other otherDesc="SEDOL" value="BPXZ192"/>
        </identifiers>
        <balance>10500</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7812"/>
        <valUSD>395376.69</valUSD>
        <pctVal>1.2239212233</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Talabat Holding PLC</name>
        <lei>529900MAA20AIKRXOA24</lei>
        <title>Talabat Holding PLC AED0.04</title>
        <cusip>M8765Z106</cusip>
        <identifiers>
          <isin value="AEE01569T248"/>
          <ticker value="TALABAT"/>
          <other otherDesc="SEDOL" value="BRPSDQ4"/>
        </identifiers>
        <balance>1381052</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.6728"/>
        <valUSD>532725.2</valUSD>
        <pctVal>1.6490948884</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shriram Finance Ltd.</name>
        <lei>335800TM2YO24B76XL26</lei>
        <title>Shriram Finance Ltd. INR2 (POST SUBD)</title>
        <cusip>Y775S1107</cusip>
        <identifiers>
          <isin value="INE721A01047"/>
          <ticker value="SHRIRAMFIN"/>
          <other otherDesc="SEDOL" value="BS4DBX0"/>
        </identifiers>
        <balance>86509</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="85.4675"/>
        <valUSD>660734.42</valUSD>
        <pctVal>2.0453580094</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wal-Mart De Mexico</name>
        <lei>N/A</lei>
        <title>Wal-Mart De Mexico COM NPV</title>
        <cusip>P98180188</cusip>
        <identifiers>
          <isin value="MX01WA000038"/>
          <ticker value="WMMVF"/>
          <other otherDesc="SEDOL" value="BW1YVH8"/>
        </identifiers>
        <balance>137163</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="20.4615"/>
        <valUSD>377807.43</valUSD>
        <pctVal>1.1695341268</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vtex</name>
        <lei>N/A</lei>
        <title>Vtex SHS CL A</title>
        <cusip>G9470A102</cusip>
        <identifiers>
          <isin value="KYG9470A1022"/>
          <ticker value="VTEX"/>
          <other otherDesc="SEDOL" value="BNLYJD7"/>
        </identifiers>
        <balance>58106</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>294597.42</valUSD>
        <pctVal>0.9119506632</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Globant S.A</name>
        <lei>2221008DCMSPYS42DS88</lei>
        <title>Globant S.A USD1.20</title>
        <cusip>L44385109</cusip>
        <identifiers>
          <isin value="LU0974299876"/>
          <ticker value="GLOB"/>
          <other otherDesc="SEDOL" value="BP40HF4"/>
        </identifiers>
        <balance>2834</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>333618.48</valUSD>
        <pctVal>1.0327435797</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-05-15</ncom:dateSigned>
      <ncom:nameOfApplicant>JANUS INVESTMENT FUND</ncom:nameOfApplicant>
      <ncom:signature>JESPER NERGAARD</ncom:signature>
      <ncom:signerName>JESPER NERGAARD</ncom:signerName>
      <ncom:title>VP, CFO, TREASURER, AND PRINCIPAL ACCOUNTING OFFICER</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
